On June 28, 2013, the Company entered into a Lette

On June 28, 2013, the Company entered into a Letter of Intent to acquire an interest in Bayano Lake Wood Products Corp., a company organized under the laws of Panama. Under the terms of the Letter of Intent the Company would be contracted by B & B Madera S.A. for the harvesting, extraction and processing of trees from Lake Bayano, Panama in the area of Parti, Nacruz Gandi y Tabardi with the approval of the General Congress of the Kuna of Madungandi (the “Concession”). On October 21, 2013, the Company finalized and executed a Contract Agreement with B&B Madera S.A. (the “Contract Agreement”), whereby the Company made its final payment of $60,030 and joint ventured with B&B Madera S.A. for the harvesting, extraction and processing of trees from Lake Bayano, Panama. The partnership called for B&B Madera S.A. to provide the funding required for the initial project and the Company has paid an aggregate of $157,500 (inclusive of deposits, professional fees, penalties and final concession/work-permit cost) as of the date of this report. Under the terms of the Contract Agreement the Company has acquired a 13.8% share in Bayano Lake Wood Products Corp and a profit share of 9%. The Company will also receive additional revenues from a wood recovery volume based royalty of 0.16 cents per board foot on heavy hardwoods and 0.10 cents per board foot on light hardwoods. The Company shall have an option to purchase an additional 11.2% of the shares of Bayano Lake Products and 8% of the profit share by December 31, 2013.

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