Wednesday, September 04, 2013 12:48:09 PM
16. SUBSEQUENT EVENTS
During the period from March 1, 2013 to the date of this report, the following subsequent events have taken place:
The Company issued 600,000 shares of common stock for cash, together with 300,000 warrants exercisable at $1.00 for twelve months from time of issuance.
The Company issued 750,000 shares to its directors for services.
The Company leased mining claims covering 24 hectares in Baja, California in March of 2013. The Company began production at these leased facilities and has received $94,500 from resultant sales of gold.
On March 7, 2013, the Company formed a subsidiary incorporated in Tijuana, Mexico, "AIVN de Mexico," to conduct mining operations.
The Company has received $95,000 in proceeds on a $1,250,000 convertible note offering, with interest at 16%. The notes, together with accrued interest, are convertible to stock at an exercise price of $.20.
On July 5, 2013, the CEO of the Company resigned to devote more attention to mining operations.
The Company has also approved a $1,000,000 discounted convertible offering for an accredited investor at an exercise price of $.20 per share.
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