TARA GOLD FILES 10Q for second quarterTARA GOLD files its second quarter 10Q
Reads with the usual 'boiler plate ' disclaimers re only ability to raise money will assure success.
Fairly brief discussions of intents. Hopefully we will see more information once the shares become listed
"The Company will need to raise a substantial amount of capital in order to continue its business plan. Management intends to initiate their business plan in late 2015 which includes the establishment of a strong foothold in the marketplace for income producing “small mine” operations along with advanced real estate income and growth. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty."
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Our new appointed management seeks to establish a strong foothold in the marketplace for income producing “small mine” operations along with advanced real estate income and growth.
Our new officers and directors bring us over 125 years of experience in mine management and exploration in geology, reserve development, metallurgy, permitting, mine health and safety, and production. In addition, the real estate team brings in over 110 years of experience in real estate development, management, finance, and construction.
The management team and board of directors have identified near term acquisitions in both mine operations with historical production and data as well as income producing real estate to balance out the new anticipated portfolio of properties under consideration.
Our initiatives for 2015 are to acquire income-producing assets that generate sales in the first year of operation and improve the asset base of the company."
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On August 1, 2015 the Company entered into a line of credit with a related part for an undetermined amount for one (1) year, 15% interest. Upon execution of the line of credit, Company borrowed $27,759, and may borrow additional amounts through the first year of operations of the borrower. In association with this line of credit, Tara Gold issued an option to purchase shares which expires 3 years from the date of grant; are not exercisable until the common stock is trading; assets with the related party are incorporated into the Company. The option exercise price is 50% of the average closing price of Tara Gold’s shares for the twenty trading days preceding the option exercise date but no less than $0.25 per share and the total exercise price may not exceed $320,000."
Lets hope their efforts to attain listing occurs SOON !!!