ASPA Gold Corp. (fka RENS)

[layton]

EXTRAORDINARY ITEMS
In the Last Quarter for the Year Ended September 30, 2015, the Company wrote off its investments and in and loans to both ASPA Gold Corp. and North American Gold & Minerals Fund. These were irrecoverable. A total amount of $429,950 was written off

The Company acquired the amount of 142,500,000 (One hundred and forty two million five hundred thousand) restricted shares in ASPA Gold Corp. (“ASPA”) from North American Gold & Minerals Fund (“NMGL”) on December 1, 2014. At that time, GNCC controlled an amount of 70.13% of ASPA shares of outstanding Common Stock. The Company has written off this as irrecoverable.

The Company’s stockholding in ASPA shares of Common Stock, was been accounted for at GNCC’s purchase price, that being $265,000 (Two hundred and sixty five thousand dollars), regardless of the market price of the ASPA shares of Common Stock from time to time. The Company has written this off as irrecoverable

https://backend.otcmarkets.com/otcapi/company/financial-report/222039/content