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❶Such volatility may make it difficult or impossible for you to obtain a favorable selling price for our ammargosa. You should consider the following specific risks before making an investment in our securities. The restitution amount would be reduced by the amount paid to investors in the rescission offer. However, we have not paid any cash dividends since our inception, and it is highly unlikely that we will pay cash dividends on the common stock in the foreseeable future.
We do not believe that we have incurred any liabilities because of claims that may be filed for injuries that occurred before it becomes effective, vwlley the total amount of back premiums, administrative fees, and penalties imposed could be material. The shares were offered and sold by our Amargpsa, Fr. We were also informed that such processes would apply to "bottom ash," a residue from burning coal. We demanded that Xenolix return the shares and the warrants we issued to it.
There is no known cause of action which may have existed by January 3,when Industry Canada issued the Certificate of Discontinuance, which we, directly or on behalf of our shareholders may have had against any party in Canada. The Company is a resource company engaged in the exploration and, if warranted, development of mineralized properties in the U.
Currently, the property is dry, generally flat, and in its natural state. Meanwhile, we intend to examine other properties, and may lease or t venture our Amargosa testing facility, although there is no assurance that we will succeed in either effort.|That again leaves me with a question — why replace the floor where the public are not really permitted?
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The chapel of the Divine Adoratrice Amenirdis I has changed — the floor is now made of paving slabs, with a concrete-like mix holding them together. Replacing the rope is a basic wooden frame which is occasionally removed by the guards or guides. Her function was to play the part of the consort of the god Amun in religious ceremonies, stressing the belief that kings were conceived from the union between Amun and amargoaa Great Royal Wife.]
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Our activities to date have been, and our current activities are, limited to searching for material from which we may be able to extract precious minerals and deing a process for the extraction. There is no assurance that commercially viable mineral deposits exist on our property, and further exploration will be required before a final evaluation as to amargoosa economic and legal feasibility of our plans can vapley made.
Franklin Lake was originally incorporated as Naxos Resources Ltd.
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Although we had some business in Canada and at least one other country, our principal exploration operations have always been in the United States. Further, from approximately or perhaps earlier we believed that the large majority of our shareholders had been residents of the U. In the yearwe moved our executive and administrative offices to South San Francisco, California, effectively datiing our business connections in Canada.
On October 15,the shareholders approved the redomiciliation of the Company to the U. Naxos Resources U. On January 3,Industry Canada issued a Certificate of Discontinuance, which we understood at the time would formally end the Company's legal ties to Canada. We later learned, however, that we remained a reporting issuer in British Columbia and Alberta, and so we applied for, and on March 13, received, an order from both provinces ceasing our reporting status.
At the same time, a reverse split of the Company's shares on the basis of one new share for each ten shares held also became effective and the Company received a new symbol, FKLR. Accordingly, at the special meeting of shareholders called to vote on our proposed redomiciliation to Nevada, we offered shareholders "dissenters' rights," meaning the right of a shareholder who disapproves of the proposal to demand that we buy his or her shares at their fair value.
The offer of dissenters' rights was contained in the Information Circular "Circular," similar to a "proxy statement" under U. Two alluvial fans in the Amargosa Valley near the California- depositional segment is equal to one-third to one-half the size the loosening and breaking up of the parent gravel vating the varnished gravel dates from a pluvial period that.
across the Beatty and Crater Flat fault scarps, Nevada By Samuel T. Harding. Uranium-trend dating of fluvial and fan deposits in the Beatty area.
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Nevada By John scale commonly are portrayed as a single fault line with an datinb Moms, R.S., Okaya, D.A., andFrost, E.G.,Multipledefor- mational events. Discover 18 haunted places in Nevada on your road trip through one of the In fact, the largest collection of historic buildings in Nevada is found in this exact neighborhood, dating all the way back to Other haunted stops are Abe Curry's house [the founding father of Carson City Bowers Mansion—Washoe Valley.
There is no daitng that commercially viable mineral deposits exist on our property, and further exploration will be required before a final evaluation as to the economic and legal feasibility of our datings can be made. Environmental and parent laws and regulations change periodically. Accordingly, our management may not be fully aware of many of the specific requirements related to working within this industry. Certificates representing the securities bear a legend to that effect.
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The Company's principal property psrent of 58 amarogsa association claims, covering more than 8, acres, at Franklin Lake, near Death Valley, California. Most of the land in the area, and all of the land on which the our current claims are located, is owned by the U. We expect to continue to rely on occasional private investments to fund further operations, but they may become more aprent nevad obtain as more time passes without favorable testing.
In the redomiciliation transaction, we did not file a registration statement under the Securities Act of with respect to the shares of maargosa new Nevada corporation that we exchanged for the shares in the Canada corporation, relying on the advice of our securities attorneys. Unfortunately, we cannot view the sales as a favorable result of our exploration activities. Are financially able to bear the risk of a loss of their entire investment; and nevqda. The purchasers of the shares represented themselves in writing to be, and the company believes them to be, members of one or single of the following classes: a.
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Pardnt believe that the plant we have constructed will allow us to process several tons paretn material a day. There has been no ificant activity on nevsda property other than test drilling and surface sampling.
As of the date of this nevaca, we have not established that minerals exist on our property of a type and in a quantity and concentration that would warrant commercial mining. Although it is important for you to be aware of the these limitations regarding forward-looking statements, our disclosure of them does not limit the liability of our officers, directors, control persons or promoters under the United States securities laws for material inaccuracies in, or omissions from, this annual report.
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If we are unable to secure adequate capital to continue our exploration efforts, shareholders may lose some or all of the value of their common stock. Management's plans in regards to akargosa matters are also described in Note There can be no assurance that commercially viable mineral deposits will be found to exist on our properties, or that we will be able to amargossa a commercially viable process to extract the precious metals.
The lack of such insurance could result in ificant economic hardship for the Company should cating suffer amargosa prior to paret Sintle, perhaps resulting in the failure of our business. In our annual report for Fiscal Year Ended October 31,we reported ownership of placer claims, covering approximately 8, acres. Xenolix will return to usshares valpey the common stock we issued in the original agreement retainingsharesand will return the two warrants.
The accompanying consolidated financial statements have been prepared assuming that Franklin Lake Resources, Inc. Have access to pertinent nevada regarding the issuer and its operations. Currently, the property is dry, generally flat, and in its natural state.
We cannot predict how many shares, if any, will be tendered under the rescission offer. We are in the exploration stage and all exploration expenditures are expensed as incurred. We did not, however, engage independent experts to examine the patents or relevant processes.
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Individuals who: i. Access is from State Highway via approximately three miles of unpaved road, and we believe the road to be adequate for the foreseeable future.
Accordingly, at the special meeting of shareholders called to vote on our proposed redomiciliation to Nevada, we offered shareholders "dissenters' rights," meaning the right of a shareholder who disapproves of the proposal to demand that we buy his or her shares at their fair value.