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Posted On: 02/28/2018 4:50:16 PM
Post# of 1521
$PSGR Searching through some past Press Releases, I found something I had forgotten. Please read the ENTIRE NOTE 9. Of particular interest is the paragraph about the purchase of an 197 acre property in California for 9 Million restricted shares and some (later) additional compensation. There is SUPPOSED to be an existing mine on the property but I can find NO REFERENCE by Pershing Resources with respect to the property AFTER this financial statement.....I need a little help from some readers to expand upon this purchase.
FROM:
PERSHING RESOURCES COMPANY, INC. AND SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED JUNE 30, 2017 AND 2016
NOTE 9 — SUBSEQUENT EVENTS (CONTINUED)
Enterprise Property near Kingman, Arizona and has an on going consulting agreement with Duncan Bain Consulting Ltd of London Ontario, Canada to provide supplemental geologic consulting to the Company. The monthly consulting fee is $500.00. Duncan Bain Consulting Ltd and/or a subcontractor will be brought in to execute the mapping and sampling program in Q3 or Q4 of 2017 and execute the Phase 1 Report. The estimated fee for the sampling program and Phase 1 Report has been agreed on as $35,500 Additional costs related to lab analysis and travel expenses will be incurred by the Company as well.
The Company has filed documentation with the BLM and has received a permit to begin road clearing and site preparation work in advance of a beginning a bulk sampling program on the New Enterprise mine site. The Company has hired to complete the work required to begin the program and expects to take charges in the Q3 2017 and Q4 2017 before realizing revenue from the bulk sampling program.
The Company has formed an Advisory Board currently comprised of three named members. Members of the Advisory Board serve for 2 years and are compensated over the 2 year period in restricted common stock in PSGR. As of Q3 2017, the Company has so far paid an additional 40, 000 shares of restricted to each of 3 named Advisory Board members.
The Company has sent signed a contract to purchase a 197 acre private property located in California for 9,000,000 restricted shares of common stock and is currently negotiating additional terms and conditions for the purchase. the Company as part of the transaction entered into an accompanying but separate service contract that provides up to 10 million restricted common shares as incentive for completion of critical task to open the existing mine on the property.
The Company has entered into a lease/purchase agreement on a 60 acre property located in Arizona and currently negotiating the final terms of the purchase agreement. The lease portion of the agreement began as of July 1, 2017 and runs through June 30th 2018. The Company will pay a monthly lease payment of $3000.00 which is to be credited towards the final purchase price. The final purchase price will be determined by a exploration and drilling program that is expected to be completed in Q4 2017 and/or after funding from the Regulation A, Form 1-A offering statement filing is qualified and receives adequate funding.
Either I have forgotten about the contents of this Financial Statement or somehow MISSED NOTE 9. THE TIME IS UP for Q4 2017....WHERE IS THE REPORT?????? Oh yeah.....there is that qualifier again 'and/or AFTER FUNDING FROM THE REGULATION A, FORM 1-A......'
I am POSITIVE that the review of past posts and Press Releases will be FUN!!!!!
FROM:
PERSHING RESOURCES COMPANY, INC. AND SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED JUNE 30, 2017 AND 2016
NOTE 9 — SUBSEQUENT EVENTS (CONTINUED)
Enterprise Property near Kingman, Arizona and has an on going consulting agreement with Duncan Bain Consulting Ltd of London Ontario, Canada to provide supplemental geologic consulting to the Company. The monthly consulting fee is $500.00. Duncan Bain Consulting Ltd and/or a subcontractor will be brought in to execute the mapping and sampling program in Q3 or Q4 of 2017 and execute the Phase 1 Report. The estimated fee for the sampling program and Phase 1 Report has been agreed on as $35,500 Additional costs related to lab analysis and travel expenses will be incurred by the Company as well.
The Company has filed documentation with the BLM and has received a permit to begin road clearing and site preparation work in advance of a beginning a bulk sampling program on the New Enterprise mine site. The Company has hired to complete the work required to begin the program and expects to take charges in the Q3 2017 and Q4 2017 before realizing revenue from the bulk sampling program.
The Company has formed an Advisory Board currently comprised of three named members. Members of the Advisory Board serve for 2 years and are compensated over the 2 year period in restricted common stock in PSGR. As of Q3 2017, the Company has so far paid an additional 40, 000 shares of restricted to each of 3 named Advisory Board members.
The Company has sent signed a contract to purchase a 197 acre private property located in California for 9,000,000 restricted shares of common stock and is currently negotiating additional terms and conditions for the purchase. the Company as part of the transaction entered into an accompanying but separate service contract that provides up to 10 million restricted common shares as incentive for completion of critical task to open the existing mine on the property.
The Company has entered into a lease/purchase agreement on a 60 acre property located in Arizona and currently negotiating the final terms of the purchase agreement. The lease portion of the agreement began as of July 1, 2017 and runs through June 30th 2018. The Company will pay a monthly lease payment of $3000.00 which is to be credited towards the final purchase price. The final purchase price will be determined by a exploration and drilling program that is expected to be completed in Q4 2017 and/or after funding from the Regulation A, Form 1-A offering statement filing is qualified and receives adequate funding.
Either I have forgotten about the contents of this Financial Statement or somehow MISSED NOTE 9. THE TIME IS UP for Q4 2017....WHERE IS THE REPORT?????? Oh yeah.....there is that qualifier again 'and/or AFTER FUNDING FROM THE REGULATION A, FORM 1-A......'
I am POSITIVE that the review of past posts and Press Releases will be FUN!!!!!
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