Following are highlights from NMGL’s 10K Filed on July 16, 2010:
ITEM 1A. RISK FACTORS IF WE DO NOT OBTAIN ADDITIONAL FINANCING, OUR BUSINESS WILL FAIL. As of February 28, 2010, we had no cash. Our current operating funds are less than necessary to complete all intended exploration of the Paymaster, Yaba and North Rawhide claims, and therefore we will need to obtain additional financing in order to complete our business plan. We currently have limited operations and we have no income.
NUMBER OF EMPLOYEES Our only employee is our officer, Ronald Yadin Lowenthal, who currently devotes approximately 20% of his time to company matters but he will devote as much time as the board of directors determines is necessary to manage the affairs of the company.
ITEM 1A. RISK FACTORS IF WE DO NOT OBTAIN ADDITIONAL FINANCING, OUR BUSINESS WILL FAIL. As of February 28, 2010, we had no cash. Our current operating funds are less than necessary to complete all intended exploration of the Paymaster, Yaba and North Rawhide claims, and therefore we will need to obtain additional financing in order to complete our business plan. We currently have limited operations and we have no income.
We will require additional financing to sustain our business operations if we are not successful in earning revenues once exploration is complete. We do not currently have any arrangements for financing and may not be able to find such financing if required.
BECAUSE OUR SOLE DIRECTOR AND OFFICER HAS OTHER BUSINESS INTERESTS, HE MAY NOT BE ABLE OR WILLING TO DEVOTE A SUFFICIENT AMOUNT OF TIME TO OUR BUSINESS OPERATIONS, CAUSING OUR BUSINESS TO FAIL. Our president, Mr. Ronald Y. Lowenthal, intends to devote approximately 20% of his business time providing his services to us. While he presently possesses adequate time to attend to our interests, it is possible that the demands on Mr. Lowenthal from his other obligations could increase with the result that he would no longer be able to devote sufficient time to the management of our business. IF A MARKET FOR OUR COMMON STOCK DOES NOT DEVELOP, SHAREHOLDERS MAY BE UNABLE TO SELL THEIR SHARES AND WILL INCUR LOSSES AS A RESULT. There is currently only a limited market for our common stock and no certainty that an active and liquid market will develop. While our common stock is quoted on the OTC Bulletin Board, a quotation medium for subscribing FINRA members (ticker symbol "NMGL.OB"), an active market has not yet developed in our common stock. upon our becoming a reporting entity under the Securities Exchange Act of 1934 (the "Exchange Act"). If an active and liquid market is never developed for our shares, it will be difficult for shareholders to sell their stock. In such a case, shareholders may find that they are unable to achieve benefits from their investment.
ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS Since September 20, 2007 our common stock has been listed for quotation on the Over-the-Counter Bulletin Board. The present symbol is NMGL. There has been no active trading market and thus no high and low sales prices to report.
