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Re: Ruellit post# 6013

Tuesday, 06/28/2011 11:43:22 PM

Tuesday, June 28, 2011 11:43:22 PM

Post# of 9281
I think this is what I found...
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7918890

Like I said...$20mm in debt, $10k in the bank, and almost $1mm in notes

ASSETS
Current Assets
   Cash 10,601    
Prepaid expenses and deposits 41,440
Total Current Assets 52,041
Deferred financing costs 36,019
Total Assets 88,060

LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current Liabilities
   Accounts payable (Note 4) 270,924
Accrued liabilities 9,940
Due to related parties (Note 4) 411,650
Total Current Liabilities 692,514
Due to related parties (Note 4) 204,369
Total Liabilities 896,883

Nature of Operations and Continuance of Business (Note 1)
Contingent Liability (Note 8)
Commitment (Note 9)
Subsequent Event (Note 10)

Stockholders’ Deficit
Preferred stock 5
   Authorized: 100,000,000 shares, par value $0.00001
   Issued and outstanding: 500,000 shares
Common stock 619
   Authorized: 131,666,666 shares, par value $0.00001
   Issued and outstanding: 61,928,359 shares
Additional paid-in capital 20,803,609
Deficit accumulated during the exploration stage (21,613,056 )
Total Stockholders’ Deficit (808,820)
Total Liabilities and Stockholders’ Deficit 88,060


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