I can't find what you posted about the 10-Q. But I found this, it trumps everything you mention. Basically what this says, uspr does own some property, an old computer, a push button phone, some filing cabinets, several whatnot's. However, it does not list any real property.
I find no mention of real property only hearsay that uspr might have some land in Mexico, but so far no-one is interested in that land. Land, which uspr might or might not have.
Here's what I found on page 44.
Net loss
The net loss for the nine months ended February 28, 2014 was $20,101,778 compared to $4,468,404 during the nine months ended February 28, 2013, an increase of $15,633,374 due to the factors discussed above.
Page 46 it appears no-one owns, or has rights to some Mexican land. Appears the Mexican's bam-boozled the bam-boolers
We have retained counsel in Mexico to represent our subsidiary in this matter. We strongly dispute the allegations raised in the lawsuit and intend to vigorously defend our rights to the mining concession. We have filed an answer to the complaint pursuant to which we alleged numerous defects in both fact and law. Part of our answer includes the position that when we contracted with Plaintiff and the seven other parties in 2003, their rights to the Solidaridad I exploration concession had expired in 2001, and thus they had no ownership rights to convey to us in 2003. As a result, we have asserted that they are not entitled to receive any additional consideration from us, and, in addition, we have demanded a return of the 1.5 million shares previously issued to them. In addition, we have filed a proceeding in a separate court (Superior Court, Mexico City) under Mexican law seeking a dismissal of the case due to the lack of jurisdiction by the current court.
This is interesting on page 47.
During the three and nine month periods ending February 28, 2014 and, 2013, we did not conduct mining operations nor maintain any mining properties in the US. Consequently we were not subject to any health or safety violations, orders and citations, related assessments and legal actions, and mining-related fatalities during the three and nine month periods ending February 28, 2014 and, 2013 .
AI
