From the quarter report just out;
Plan of Operation
We have not generated any revenues during the nine months ended September 30, 2007 and do not expect to generate any revenues over the next six to twelve months. The company's strategy is to complete the procedural steps necessary to register UniverCompany as a wholly-owned subsidiary of StarGold and to raise funds to prove and possibly exploit the Nerchinskie and Karalon properties. Further, Company will continue to seek out investment and acquisition opportunities in Russia and Eastern Europe with the aim of extracting natural resources from existing licenses and acquiring and exploiting other natural resource licenses and properties ultimately developing a portfolio of natural resource opportunities attractive to Western investors.
Our principal business objective for the next twelve months will be to raise funds. If we are not successful, we will then have to seek, investigate and, if such investigation warrants, engage in a business combination with another private entity whose business presents an opportunity for our shareholders.
As of September 30, 2007, we had $6,990 in cash. We incurred a net loss of $205,622 for the period July 1, 2007 to September 30, 2007. During the quarter covered by this Report, the Company made a $99,000 non-interest bearing, unsecured loan to UniverCompany. During the quarter ended September 30, 2007, there was an in increase in professional fees corresponding with the increase in legal and accounting activity associated with completing the acquisition of UniverCompany. Salaries and benefits for the six and nine month period ending June 30, 2007 and September 30, 2007, was $40,000 and $60,000 respectively, as Marcus Segal, the Company's Chief Executive Officer and Chief Financial Officer receives a salary of $20,000 per quarter for services.
During the next twelve months we anticipate incurring costs related to finalizing the acquisition of UniverCompany and the filing of the appropriate SEC periodic reports. We believe we will be able to meet these costs through funds to be loaned by or invested in us by our stockholders, management or other investors. We have no specific plans, understandings or agreements with respect to the raising of such funds, and we may seek to raise the required capital by the issuance of equity or debt securities or by other means. Since we have no such arrangements or plans currently in effect, our inability to raise funds for the consummation of an acquisition may have a severe negative impact on our ability to become a viable company
