MANAGEMENT AGREEMENT

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

NOTE 6 - MANAGEMENT AGREEMENT

On April 13, 2015, ERC entered into a mining and management agreement with an unrelated entity, to operate a coal mining and processing facility in Jasonville, Indiana. Under the management agreement funds advanced for the six month period ended June 30, 2017 and 2016 are $75,000 and $1,525,000, respectively and the amounts repaid totaled $198,917 and $0, respectively.