According to independent sources.....
If some of these bogus "exploration companies" spent their money on actual mineral exploration rather than stock promotion, they might have something worthwhile. But, as we know, so many of these companies are not really in the mineral exploration business at all - it is just a front. They are really in the stock selling business. Which helps explain why they are so willing to use stock photos of other people's operations on their websites. Another red flag.
Transferring the asset (or, in this case, the story of an asset) to a sub which just R/S and increased its A/S is a massive red flag. Little doubt that entire new A/S will probably be used before this one is toast, too.