Item 2. Properties
Item
2.
Properties.
Our
principal office is 1521 North Cooper St., Suite 205, Arlington, Texas 76011, leased at a rate of $981.00 per month. We believe these
facilities are adequate for at least the next 12 months. We expect that we could locate to other suitable facilities at comparable rates,
should we need more or less space.
We
have unpatented mining claims for the Arizona Property. An unpatented mining claim is one that is still owned by the federal government,
but which the claimant has a right to possession to extracted minerals, provided the land is open to mineral entry. A description of
the Arizona Property is included in “Item 1. Business” and is incorporated herein by reference. We believe that we have satisfactory
title to the Arizona Property, subject to liens for taxes not yet payable, liens incident to minor encumbrances, liens for credit arrangements
and easements and restrictions that do not materially detract from the value of these properties, our interests in these properties,
or the use of these properties in a business. We believe that the Arizona Property is adequate and suitable for the conduct of a mining
business, should we decide to proceed with such operations in the future.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.