4. Discontinued Operations

6 Months Ended

Dec. 31, 2014

Notes

4. Discontinued Operations

4.         Discontinued Operations

Pursuant to the Securities Exchange, the pre-existing mining business was discontinued.

On April 28, 2014 the Company notified Mexivada Mining Corp. and Compania Minera Mexivada S.A de C.V., of termination of the Mexivada Property Option Agreement dated as of February 11, 2011, as amended October 24, 2011, and that the Company would not pay any further fees or expenses associated with the Agreement. The remaining interests were sold on July 24, 2014.

The following table presents summarized operating results for these discontinued operations. The table below does not present MV Patents because the historical financial information represents the activity of MV Patents as the predecessor business to VRE, and does not include any of the operations of the discontinued exploration stage mining business. The historical financial information for MV Patents for the six months ended December 31, 2013 is included in the accompanying consolidated financial statements.

	Six Months Ended December 31, 2014
Loss from discontinued operations	$               3,608

Components of assets from discontinued operations consist of the following as of December 31, 2014 and June 30, 2014

	December 31, 2014	June 30, 2014
Current assets:
Property and equipment	$                        -	$           8,809
Less: accumulated depreciation	-	(5,201)
Total assets held for sale	$                        -	$           3,608