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AGREEMENTS AND COMMITMENTS
9 Months Ended
Sep. 30, 2013
AGREEMENTS AND COMMITMENTS  
AGREEMENTS AND COMMITMENTS

NOTE 5 AGREEMENTS AND COMMITMENTS

 

On September 6, 2013, the Company, and its majority shareholder, entered into an Asset Purchase Agreement with Shannon Anderson and Herbert “Chris” Christopherson, pursuant to which the Company purchased two parcels of real property located in Mineral County Montana from Messrs. Anderson and Christopherson. The acres consist of approximately 32 acres of usable land. The 32 acres was encumbered by a loan obligation. The balance of the loan obligation as of September 30, 2013 was $109,443. The note has a 7% per annum stated interest rate and is due and payable March 1, 2021. Payments in the amount of $1,581 are required to be made monthly. The Asset Purchase Agreement also included the purchase of several items of mining machinery and equipment owned by Mr. Anderson in consideration of 54,000,000 shares of common stock valued at $285,480 (valued at $0.005287 per share). The Asset Purchase Agreement closed on September 9, 2013.

 

On September 9, 2013, the Company entered into a verbal employment agreement with an individual to serve as a Director and Chief Executive Officer. This agreement is for a period of one year. Any compensation is dependent on certain milestones to be met before any compensation will go into effect.

 

On September 9, 2013, the Company entered into a verbal employment agreement with an individual to serve as a Director and Chief Financial Officer. This agreement is for a period of one year. Any compensation is dependent on certain milestones to be met before any compensation will go into effect.

 

On September 9, 2013, the Company entered into a verbal employment agreement with an individual to serve as a Director and Vice President. This agreement is for a period of one year. Any compensation is dependent on certain milestones to be met before any compensation will go into effect.

 

On September 9, 2013, the Company entered into a verbal employment agreement with an individual to serve as a Director and Secretary. This agreement is for a period of one year. Any compensation is dependent on certain milestones to be met before any compensation will go into effect.