The Company has obtained a commitment from two groups of private investors to provide the cost of commercialization of its mineral claims. Expenditures from these sources are reflected on our balance sheet under “Capitalized Mining Expenses” and Startup Costs”. Since no revenues have been realized, these expenditures do not appear on the Company’s Statement of Operations. Such capitalized expenses include payment of $3000 in compensation to each of James Louis Porter and Clay Franks. A subsidiary of the Company, CARE, has obtained a letter of intent from Aegis Capital Inc. in New York City to raise funds on a “best efforts” basis, the outcome of which remains to be seen. There can be no assurance that the Company’s mining operations will ever be undertaken or, if undertaken, profitable. Management's Discussion and Analysis of Financial Condition and Results of Operations. The following discussion and analysis is management's assessment of the results and financial condition of the Company for the six months ended June 301, 2012. Our goal and commitment towards development has positioned us for a solid chance to be operational; anticipated to be in the Fourth Quarter of 2012. Cash needs have been met by investors pursuant to agreement with them to do so. The company expects to be generating revenue from an oil and gas contract later in 2012 (amounts undetermined), but none from any mining ventures. Our mining support agreements in place will position the company for growth that could prove to be significant. Without this support and growth, our plans to move towards becoming operational will not be successful.
You will notice CTL has been increasing leases serviced; although it does not look like they have produced anything as of yet. You may hear of Bayport aquiring Rio before any production. About 124million shares left in O/S to play with. Don't forget Porter still has to collect 5% due to his employment contract. 42.5M if O/S 850M.
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