Monday, March 31, 2014 1:27:16 PM
Besides that, A National Instrument 43-101 Technical Report applies to CANADA--not Arizona. See how slimy this all is?
a National Instrument 43-101 (the "NI 43-101" or the "NI") is a national instrument for the Standards of Disclosure for Mineral Projects within Canada.
Here's what it says in their 10Q
Based upon current plans, we expect to incur operating losses in future periods. This will happen because there are expenses associated with the research and exploration of our mineral properties. As a result, we may not generate revenues in the future. Failure to generate revenues will cause us to suspend or cease activities.
They are in default
We are in default on our note to Freedom Boat, LLC for $250,000 which is secured by 10,000,000 shares of common stock of the Company. We have preliminarily agreed with Freedom Boat to pay monthly interest for another 2 years from September 30, 2013 with the balance due at the end of the 24-month term. On September 24, 2013 the Company entered into an agreement with Gunner Gold LLC in which Gunner agreed to pay $2,500 for 24 months to lease the Company’s Hull Lode claim. The $2,500 monthly payment will be used to repay the interest of note payable to Freedom Boat.
We are in need of approximately $65,000 per month in order to meet our operating expenses. We are currently in discussion with Tonaquint for additional funding.
A nation of sheep will beget a government of wolves. — Edward R. Murrow
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