History
A company taken over by Ken Liebscher moved from Nevada silver into graphite, left him holding 97.41% in 2014, and deregistered from SEC reporting in 2019.
2009-2010: A change of control and a silver start
The company was then called Sierra Ventures, Inc., a Wyoming company. On December 11, 2009, Ken Liebscher bought 6,000,000 shares, 67.4% of the 8,900,000 outstanding, from sole director Ian Jackson for $200,000. Liebscher became president, treasurer, secretary and a director, and Jackson was to resign.
On February 8, 2010 Liebscher agreed to acquire 38 unpatented claims and 2 historic silver mine leases, Lucky Boy and Black Butte, in Mineral County, Nevada. The price was $55,000 plus 75,000 shares each to Monte Cristo Projects LLC and Alan Chambers. He assigned the deal to the company on February 23 for $1.00, making it the company's first mineral property.
In October 2010, now named Lucky Boy Silver, the company signed an equity financing agreement for up to $2,500,000 with Cardinal Capital Holdings, Limited. A first draw of $225,000 brought 346,154 restricted shares. Up to $1,500,000 could be drawn through October 19, 2011, with a further $1,000,000 at $0.65 at the investor's discretion. This funded the company but meant more new shares. The record does not show what happened to this arrangement afterwards.
2012-2014: Turning to graphite
In April 2012 the company moved into graphite. On April 20 it agreed to buy four Quebec claim applications (about 65 claims, roughly 3,900 hectares) from Habitants Minerals Ltd. for US$50,000 in two payments plus 100,000 shares. On April 24 it agreed with GeoXplor Corporation to buy the Chedic Graphite Property in Nevada (20 lode claims, about 400 acres). The terms were $425,000 cash over four years, 2,500,000 restricted shares, at least $1,000,000 of work over four years, a 2.5% net return royalty and a $500,000 bonus on certain outcomes.
The record then goes quiet. A 1-for-30 reverse split took effect on May 8, 2014. On September 22, 2014, Liebscher converted 675,000 preferred shares into 67,500,000 restricted common shares. He then held 67,988,334 shares, or 97.41%, leaving other holders about 2.6%. Auditors had flagged going-concern doubt, and funding the Chedic commitments remained open.
2015-2019: Deregistration
The record is quiet for several years. On February 13, 2019, National Graphite Corp deregistered its securities, ending its obligation to file reports with the SEC. Liebscher's last reported holding, in September 2014, was 97.41%, and the beats do not say whether the Nevada silver, Quebec or Chedic interests were still held.
Written from the 7 story beats below (2009 to 13 Feb 2019), which come from the company's own announcements and filings.