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From filing by Sylios Corp in November... referencing

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Brouski   Monday, 01/13/20 10:56:38 PM
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From filing by Sylios Corp in November... referencing 13 oil wells sold to Soligen.




"NOTE F – OIL AND GAS OPERATING BONDS
The Company is required to put up for bond either cash or a Surety bond for each well it elects to act as operator. The amount of the
bond is calculated based on the total depth of the well. In the event the Company were to abandon the wells, the Kentucky Department
of Natural Resources would claim the cash bond and use the funds for reclamation.
The Company hopes to reclaim the cash bonds totaling $24,500 for the 13 wells sold in the Asset Purchase Agreement with Soligen
Technologies, Inc. when Soligen replaces the Company’s cash bonds by funding with its own bond, which has not yet occurred at the
date of issuance of these financial statements. Please see NOTE E - OIL AND GAS ROYALTY INTERESTS for further information."

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