Tsz King Chan - 30 Apr 2024 Form 5 Insider Report for FORMATION MINERALS, INC. (FOMI)

Role
10%+ Owner
Signature
/s/ Tsz King Chan
Issuer symbol
FOMI
Transactions as of
30 Apr 2024
Net transactions value
+$122,800
Form type
5
Filing time
02 Aug 2024, 20:11:13 UTC
Previous filing
02 Aug 2024
Next filing
08 Oct 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FOMI Common Stock Award $0 +8,800,000 +423% $0.000000 10,881,000 15 Dec 2022 Direct F1
transaction FOMI Common Stock Purchase $122,800 +1,228,000 +49% $0.1000 3,758,000 19 May 2023 Horizon Fund Private Limited F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person was awarded 8,800,000 shares of common stock, par value $0.01 per share ("Common Stock"), of SensaSure Technologies, Inc., now known as Formation Minerals, Inc. (the "Issuer"), for his service as president and a director of the Issuer, which were subject to vesting. Upon Mr. Chan's resignation as president and director of the Issuer on December 15, 2023, such shares of Common Stock were accelerated to become fully vested.
F2 Horizon Fund Private Limited ("Horizon") purchased 1,228,000 shares of Common Stock from a private seller for $0.1 per share.
F3 The Reporting Person serves as the sole director, officer and beneficial owner of Horizon and, accordingly, the Reporting Person may also be deemed to beneficially own the shares of Common Stock held directly by Horizon. The Reporting Person disclaims beneficial ownership of the shares of Common Stock held directly by Horizon except to the extent of the Reporting Person's pecuniary interest therein.