Sze Tang (Albert) Li - 04 Oct 2024 Form 4 Insider Report for FORMATION MINERALS, INC. (FOMI)

Role: 10%+ Owner
Signature: /s/ Sze Tang (Albert) Li
Issuer symbol: FOMI
Transactions as of: 04 Oct 2024
Net transactions value: +$100,050
Form type: 4
Filing time: 08 Oct 2024, 17:23:11 UTC
Previous filing: 23 Sep 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FOMI	Common Stock	Award	$100,050	+2,501,250	+9.3%	$0.0400	29,385,250	04 Oct 2024	Direct	F1
holding	FOMI	Common Stock						500,000	04 Oct 2024	Affluence Asset Holdings PTE. Ltd.	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	SensaSure Technologies Inc., now known as Formation Minerals, Inc., a Nevada corporation (the "Issuer") previously received certain loans and advances from the Reporting Person in the amount of $100,050. Pursuant to that certain Conversion and Subscription Agreement (the " Conversion Agreement"), dated as of October 4, 2024, by and between the Reporting Person and the Issuer, the Issuer and the Reporting Person agreed to convert such indebtedness into shares of common stock, par value $0.01 per share ("Common Stock") of the Issuer. The Reporting Person received 2,501,250 shares of Common Stock, at a conversion price of $0.04, pursuant to the Conversion Agreement.
F2	The Reporting Person serves as the sole director, officer and beneficial owner of Affluence Asset Holdings PTE. Ltd. ("Affluence") and, accordingly, the Reporting Person may also be deemed to beneficially own the shares of Common Stock held directly by Affluence. The Reporting Person disclaims beneficial ownership of the shares of Common Stock held directly by Affluence except to the extent of the Reporting Person's pecuniary interest therein.

Content

SensaSure Technologies Inc., now known as Formation Minerals, Inc., a Nevada corporation (the "Issuer") previously received certain loans and advances from the Reporting Person in the amount of $100,050. Pursuant to that certain Conversion and Subscription Agreement (the " Conversion Agreement"), dated as of October 4, 2024, by and between the Reporting Person and the Issuer, the Issuer and the Reporting Person agreed to convert such indebtedness into shares of common stock, par value $0.01 per share ("Common Stock") of the Issuer. The Reporting Person received 2,501,250 shares of Common Stock, at a conversion price of $0.04, pursuant to the Conversion Agreement.

The Reporting Person serves as the sole director, officer and beneficial owner of Affluence Asset Holdings PTE. Ltd. ("Affluence") and, accordingly, the Reporting Person may also be deemed to beneficially own the shares of Common Stock held directly by Affluence. The Reporting Person disclaims beneficial ownership of the shares of Common Stock held directly by Affluence except to the extent of the Reporting Person's pecuniary interest therein.