WellTek (WTKN)

[highlandernew]

July-17,2020: WTKN moves to COAL MINING with MacArthur Resources?

*** WHO ARE THE REDACTED NAMES UH? ***







https://www.sec.gov/Archives/edgar/data/1818789/000157570520000138/0001575705-20-000138-index.htm

Great competent people running this show?





...Our Corporate History
We were incorporated on July 17, 2020 in Florida. Kenneth D. Bland is our founder. We will found a joint venture subsidiary, 10sion Coal, Inc., immediately following the first sale of our common stock pursuant to this offering circular. Our interest in the joint venture subsidiary will begin at fifty-one percent and declines to forty-nine percent by 2022.
...The address of our website is www.10sionenergy.com.
...Overview of Our Business
Our joint venture partner, MacArthur Resources, LLC, a West Virginia limited liability company founded in 2015, has a letter of intent to purchase three mining leases for covering nine operating areas in Greenbrier County, West Virginia. We will contribute the net proceeds from the sale of our shares to the joint venture subsidiary and MacArthur will contribute the letter of intent to purchase the mining leases to our joint venture subsidiary, which will then contract with the seller to complete the purchase and commence mining operations. MacArthur will manage the business and operations of our joint venture subsidiary. For information about MacArthur see, Management of Our Joint Venture Partner.

The Properties to be Leased
The properties we intend to lease contain total reserves estimated at 12.62 million tons mid-vol coal. Mid-vol coal is also known as medium volatile bituminous coal or medium coking coal and is used in steel production. Three of the properties are permitted for immediate mining operations. The reserves have been fully de-risked by extensive core drilling and mapping specific to these properties. The following table summarizes information about each property...

https://www.sec.gov/Archives/edgar/data/1818789/000157570520000138/a1_10sion.htm

What are your thoughts about this?