Reverse Mergers

[lockednready]

FGOCQ - The 8-K was released this evening It’s in line with what occurred on Apr 20, 2010 at the BK courthouse. Seems like everything is falling into place...this could have a significant increase (see FGOCQ sticky for below information):

"MR. HARRIS: We’re not going to reorganize around the
25 real and personal property collateral of Platinum.
EXCEPTIONAL REPORTING SERVICES, INC
15
1 THE COURT: What’s left?
2 MR. HARRIS: Your Honor, we have approximately 40,
3 50-million-dollar NOL that we want to preserve, and there is
4 benefit for the creditors as far as money --
5 THE COURT: So, you’re going to use their net
6 operating losses?
7 MR. HARRIS: No, no. We’re going to -- we’re going
8 to merge -- our goal is to merge with Dura Rock or have Dura
9 Rock acquire us or we’ll acquire Dura Rock, which will then
10 infuse --
11 THE COURT: The successor gets to utilize the NOL’s.
12 MR. HARRIS: Right. And then we’ll have some
13 infusion of monies so we can -- you know, the goal is to pay
14 the employee wage claims, to issue stock to the other accounts
15 payable creditors, and to have something in it for shareholders
16 if the code allows for it."


Form 8-K for STEELE RESOURCES CORP
________________________________________
30-Sep-2010
Entry into a Material Definitive Agreement, Other Events, Financial Stateme

Item 1.01 Entry into Material Definitive Agreement
On September 24, 2010 the Registrant's wholly owned subsidiary, Steele Resources, Inc. ("SRI") entered into an Asset Purchase Agreement and Assignment of Contract pursuant to which SRI acquired the mineral lease rights to explore the Fairview Hunter Gold Exploration Project (the "Fairview Hunter Project"). The property is comprised of 115 mineral claims covering approximately 2,300 acres located 30 miles southeast of Fallon, Nevada. The Fairview Hunter Project lease has a term of ten years (through July 2020) and annual lease payments commencing at $25,000 and ending at $50,000 in the fifth year of the lease
(2015). The Lessor also retains a production royalty of 3% of the Net Smelter Returns from the leased property of which SRI can buyout up to 2% of such royalty upon payment of $1,000,000 per 1% royalty amount. SRI acquired the mineral lease rights in exchange for the issuance of 500,000 shares of the Registrant's restricted common stock and the prior lessee retained a 2% net production royalty which SRI can acquire upon payment of $1,000,000 per each 1% royalty amount. The transaction closed on September 30, 2010.
The Fairview Hunter Project lease was acquired from Durarock Resources, Inc., a company of which Scott Dockter (CEO of the Registrant) is a majority stockholder and David McClelland (a Director of the Registrant) is a less that 5% stockholder. Mr. Dockter, Mr. McClelland and Chris Whitaker (a Director of SRI) serve as directors of Durarock. The transaction was approved unanimously by both the Board of Directors of SRI and the Registrant with Mr. Dockter abstaining from such votes.