why has glasier returned to u3o8, page-21

For those interested, I dug a little deeper and have solved the mystery. Had to look through the company's SEC filings to work it out.

The reason for the confusion is because there are 2 companies with the same name. In January 2012, American Strategic Minerals Corp (ASMC incorporated in Nevada) acquired American Strategic Minerals Corp (Amicor incorporated in Colorado) through the exchange of shares. Because of this 'acquisition', George Glasier was elected as CEO of ASMC. Then in March 2012, Amicor (NOT ASMC), then a 100% subsidiary of ASMC, entered into a JV with Ablation Tech.

However in June 2012, for reasons unknown and undisclosed, the acquisition of Amicor by ASMC was unwound and George Glasier resigned as director of ASMC but remained as the CEO of Amicor. So that's the reason George Glasier was able to assign the rights to Amicor's share of Ablation Tech to BLR.

My point however still stands though. The JV between Amicor and Ablation was conditional on Amicor funding the JV. This clearly didn't happen but George Glasier somehow convinced BLR to fully fund the JV instead and still pay him for Amicors rights to Ablation Tech through the issue of shares in BLR eventhough it could be argued that he didn't really have any rights to the Technology in the first place because Amicor didn't end up funding the JV. I hope the payment we made to George was not significant and was simply for arranging the deal between BLR and Ablation Tech.

The good news is that George is clearly a very good negotiator and is probably very well connected in the uranium industry and most likely to Ablation Tech and having him as a consultant should be a positive for BLR.