OTC Bulletin Board

S & P Company Insight for FIRST LIBERTY POWER
 
 Profile

 
Business Summary: First Liberty Power Corp., in the exploration stage as of Jan. 31, 2010, engages in the exploration of domestic strategic energy and mineral properties to supply the emerging demand for clean energy.
 
Address
  114 West Magnolia St., #400-136
  Bellingham , WA 98225
  Phone: 702-990-8402
  Website: http://www.firstlibertypower.com
Auditor
  Davis Accounting Group P.C.
Transfer Agent
  Island Stock Transfer
ShareHolders:  39
Founded:  2007
Domicile:  Nevada
 
  
 
 Background

 
First Liberty Power Corp., in the exploration stage as of Jan. 31, 2010, engages in the exploration of domestic strategic energy and mineral properties to supply the emerging demand for clean energy. The company seeks to capitalize on the anticipated increase in demand for both lithium carbonate and vanadium that is projected to result from the adoption and use of clean renewable energy that First Liberty Power believes will fuel demand for products that utilize lithium-ion batteries and vanadium redox batteries. The company holds the rights to an 84-claim, 12,800-acre property located in Esmeralda County, Nevada (the LVW claims). The company's 66 vanadium-uranium mineral lode claims are located in San Juan County, Utah (the Uravan mineral claims). In April 2010, First Liberty Power announced its planned upcoming work program for the Lida Valley Lithium Brine Prospect (the LVW claims). The initial phase of the exploration program will consist of a complete gravity survey over the claim area to determine the depths of the basin and delineate troughs or traps that might contain economic values and concentrations of lithium brines. Work was scheduled to begin in May 2010. The project, including mobilization-demobilization, was expected to take approximately 16 days for field completion and another 30 days for the interpretation and final report. If results from the gravity surveys are deemed successful, a controlled source audio magnetotellurics/magentotellurics (CAMT/MT) method would be recommended as the next step to define brine filled layers and bedrock within the basin. Also in April 2010, First Liberty Power released the results from a radon survey conducted on the company's Uravan mineral claims in San Juan County, Utah. The Uravan mineral claims radon survey consisted of 101 readings with a minimum reading of 0.35 and a maximum reading of 27.75. The median reading was 6.75 with a midrange of 14.05. The preliminary radon survey data indicated an anomalous east-west radiometric trend. According to the company, a detailed radon survey would further define drill targets and thereby delineate tonnage and grade within the Uravan Claim Block. The company was previously focused on developing and offering a server-based software product for the creation of wireless communities. In December 2009, the company changed its business direction to focus on mineral exploration.
History:  INCORPORATED in Nevada Mar. 28, 2007, as Quuibus Technology, Inc.; name changed to First Liberty Power Corp. Dec. 22, 2009.
 
 
 
 
  
 
 Management

 

Management
OfficersPosition
 Glyn R. GarnerPresident

Directors
 Glyn R. Garner
 
  
 
 Annual Report

 
Annual Report
 
Income Statement
  20092008
EXPENSES:
General and administrative2042
Oper. income as calculated(20)(42)
Net income(20)(42)
Share earns. basic($0.01)($0.02)
Share earns. diluted($0.01)($0.02)
Avge. com. shs. (Thou.)2,5252,016
 
Balance Sheet
  20092008
Assets:
Cash & equiv. 15
Tot. curr. assets 15
Total assets 15
Liabilities:
Accts. pay.5
Due to Shareholder1-
Accruals34
Tot. curr. liabs.94
STOCKHOLDERS' EQUITY (DEFICIT):
Com. stk. p.$0.00122
Paid-in cap.5151
Retained earns.(62)(42)
Total stockholders' equity (deficit)(9)11
Total liabs. 15
Common Shares (Thou.)2,5252,525
 
  
 
 Interim Report

 
Interim Report    08/01/2009  -  01/31/2010
 
Income Statement
  2010
EXPENSES:
General and administrative7
Oper. income as calculated(7)
Interest income (expense)(2)
Net income(9)
Share earns. basicNil
Share earns. dilutedNil
Avge. com. shs. (Thou.)68,281
 
Balance Sheet
  2010
Assets:
Cash & equiv.2
Tot. curr. assets2
Mineral properties220
Total assets222
Liabilities:
Due to shareholder10
Loan payable195
Accts. pay.5
Accruals5
Tot. curr. liabs.215
STOCKHOLDERS' EQUITY (DEFICIT):
Com. stk. p.$0.00169
Paid-in cap.9
Retained earns.(71)
Total stockholders' equity (deficit)7
Total liabs.222
Common Shares (Thou.)68,675
 
  
 
 Pro Forma Report

 
Pro Forma Report   
 
Data Not Available
 
 
 
 
  
 
 Quarterly Report

 
Quarterly Report Information   
 
Quarterly Revenue
 
Data Not Available
 
Quarterly Net Income, US$
YearQuarterRevenue
  2010   2(10,000)
  2010   3(60,000)
  2009   Full Year (20,000)
  2008   Full Year (40,000)
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2010   1Nil
  2010   2Nil
  2010   3Nil
  2009   1Nil
  2009   2Nil
  2009   3Nil
  2009   4Nil
  2009   Full Year (.01)
  2008   1Nil
  2008   2Nil
  2008   3(.01)
  2008   4(.01)
  2008   Full Year (.02)
 
  
 
 Stock Data

 
 
Capitalization as of 01/31/2010:
 
 Authorized SharesOutstanding Shares
Common $0.001 par540,000,00068,675,000
 
LONG TERM DEBT: None.
 
Common $0.001 par
 
Stockholders:  10/26/2009, 39.
Transfer Agent:  Island Stock Transfer   St. Petersburg , FL
 
OTC Bulletin Board( Primary): FLPC
 
 
DIVIDENDS: Common $0.001 par: No cash. Common split 27-for-1, Feb. 4, 2010.