Santo Mining Corp (SANP)

[towerclimber92]

NOTE 13 – SUBSEQUENT EVENTS
In accordance with ASC Topic 855-10, the Company has analyzed its operations
subsequent to December 11, 2017 the date these financial statements were issued, and
has determined that it does not have any other material subsequent events to disclose
in these financial statements other than the events discussed below.
Since the end of the third quarter ended September 30, 2017 1,664,637,000 common
shares were converted against convertible notes payable substantially further reducing
the Legacy financing outlined above.
On November 17, 2017, the Company received 12 high-end Cryptocurrency processing
servers from Canoe Pool under the terms outlined in its MOU with Canoe Pool. These
processing servers are preconfigured for Bit Coin mining and related processing. The
Company is currently conducting Research and Development with these units while
Canoe Pool is enhancing its software to enable transaction and encrypted storage
functions for BitCash. BitCash is alternative to Bitcoin, which enjoys greater payouts to mining pools and does not share the same volatility of Bitcoin. Canoe Pool expects to
begin BitCash mining on December 20, 2017.
The Company is conducting its Research and Development activities on the servers to
among other purposes to optimize processing power while improving electric power
consumption reduction of ambient sound. Each unit has potential to process up to 12
TeraHashes, preliminary results led to the Company ordering 75 additional units.
The company is analyzing the rental of colocation data space versus developing
container pods to house units to mining crypto currencies. Availability of cost efficient
electricity is a major factor in determining where the company will locate the mining
systems.