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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
February 27, 2007
Littlefield Corporation
(Exact name of registrant as specified in its charter)
Delaware 0-24805 74-2723809
(State or other jurisdiction of (Commission File Number) (IRS Employer
incorporation or organization) Identification No.)
2501 North Lamar Boulevard
Austin, Texas 78705
(Address of principal executive office)
Issuer's telephone number: (512) 476-5141
Section 3 - Securities and Trading Markets
Item 3.02 Unregistered Sales of Equity Securities
On February 27, 2007, Littlefield Corporation agreed to sell 400,000 shares of
its restricted common stock to an affiliate of Value Fund Advisors, LLC, of
Tulsa, Oklahoma, for $1.19 per share, which represents a fifteen percent (15%)
premium over the company's average closing price on the OTC Bulletin Board for
the last five trading days. The investor has also agreed to purchase an
additional 100,000 shares of Littlefield's common stock in open market purchases
over the next three months.
The sale was made in a privately negotiated transaction in reliance on the
exemption from federal securities laws contained in Section 4(2) of the
Securities Act of 1933.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
LITTLEFIELD CORPORATION
Date: March 2, 2007 /s/ Jeffrey L. Minch
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Jeffrey L. Minch, President and
Chief Executive Officer