NATC:
Hi doubloon, starting my dd on this one and notice the following dilution mentioned in the 11/29/10 8K (copy/paste) aml
Effective October 12, 2010, our articles of incorporation were amended to increase our authorized capital from 75,000,000 shares of common stock with a par value of $0.001 per share to 500,000,000 shares of common stock with a par value of $0.001 per share.
In November 2010, we effected a forward split, payable by way of the declaration of a share dividend on the issued and outstanding shares of our common stock, to be paid by the issuance of 20 additional shares for each issued and outstanding share held by stockholders of record as of November 7, 2010.
Los Amoles Property
On October 4, 2010, we entered into a letter of intent with Yale Resources Ltd., whereby Yale Resources has agreed to grant us an option to acquire a 70% interest in its wholly owned Los Amoles Property located in the municipality of Villa Hidalgo, Sonora State, Mexico, subject to the entering into of a definitive agreement.
On November 26, 2010, we entered into a definitive option agreement with Yale Resources Ltd. pursuant to which Yale Resources granted to our company an exclusive right and option to acquire undivided legal and beneficial interests of 70% in and to the mining concessions known as Los Amoles Property. The Los Amoles Property covers approximately 1,504.74 hectares and is located in Sonora State, Mexico.
The option is to be exercised on or before December 1, 2013 and we may exercise the option by performing, paying or issuing the following:
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