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Subsequent Events
9 Months Ended
Sep. 30, 2011
Notes to Financial Statements  
Subsequent Events

NOTE 8 – SUBSEQUENT EVENTS

 

In February 2012, the Company entered into a Master Services Agreement (“MSA”) with CH2M Hill for the performance of various engineering services by CH2 relative to the Company’s potential development of a nitrogen fertilizer facility in the CFTZ to be paid on a negotiated basis.

In February 2012, following the suspension of the Company’s securities by the Securities and Exchange Commission, to induce Mr. Bellen to continue his efforts on behalf of the Company, the Company’s Board of Director’s voted to issue Mr. Bellen 4,000,000 restricted common shares of the Company’s stock.

 

On February 23, 2012 the Company was informed effective immediately it shares had been suspended from trading by the United States Securities and Exchange Commission (the “Commission”), and the Commission has initiated administrative proceedings File No. 3-14767 to determine whether revocation of the Company’s registration due to its delinquency in filing its periodic reports with the Commission pursuant to Section 12 of the Exchange Act. The Company filed an answer with affirmative defenses and is requesting that such administrative proceeding be dismissed. There can be no assurance that the Company will be successful in being able to halt the Commissions efforts to revoke of the Company’s registration.

 

In March of 2012, the Company initiated a $1,000,000 offering at $0.05 per share pursuant to Regulation D. On March 29, 2012, the Company has received proceeds from this offering of $20,000 and the Company issued 400,000 shares of its common stock.