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- ORGANIZATION AND DESCRIPTION OF BUSINESS
12 Months Ended
Jun. 30, 2011
- ORGANIZATION AND DESCRIPTION OF BUSINESS

NOTE 1 -     ORGANIZATION AND DESCRIPTION OF BUSINESS

 

Verde Resources, Inc. (the “Company”) was incorporated on April 22, 2010 in the State of Nevada, U.S.A.  The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America, and the Company’s fiscal year end is June 30.

 

The Company is an exploration stage company that intends to engage principally in the acquisition, exploration and development of resource properties. The Company signed an option agreement to acquire a property (Note 5). Prior to this, the Company’s activities have been limited to its formation and the raising of equity capital.

 

Exploration Stage Company

 

The Company is considered to be in the exploration stage as defined in FASC 915-10-05 “Development Stage Entities,” and interpreted by the Securities and Exchange Commission for mining companies in Industry Guide 7.  The Company is devoting substantially all of its efforts to development of business plans and the acquisition of mineral properties.