Related Party Transactions

12 Months Ended

Jun. 30, 2018

NOTE 10 – Related Party Transactions

Everest Hill Group Inc.

Everest Hill Group Inc. (“Everest Hill Group”) is the controlling shareholder of ARC, owning approximately 52.7% of its shares outstanding as of June 30, 2018. Everest Hill Group also owns 100% of Quadrant Management Inc. (“QMI”), which indirectly owned 74% of the membership interests of Quadrant Metals Technologies LLC (“QMT”) prior to ARC’s acquisition of QMT in August 2012. ARC and QMI are under common control of Everest Hill Group.

In addition, the following individuals are also affiliated with QMI and Everest Hill Group:

Mr. Alan Quasha is the Chief Executive Officer of QMI. On March 31, 2016, Mr. Quasha was appointment as Chairman of the Board of Directors of the Company. On May 3, 2018, the Board of Directors appointment Mr. Quasha as Chief Executive Officer of the Company. Mr. Quasha serves the Company without payment or salary or other compensation.

Mr. Eli Davidai, the Company’s General Manager of Operations as of May 2017, has been a Managing Director at QMI since 1992, where he is responsible for making investments and overseeing companies at the firm. Additionally, Mr. Davidai was elected to the Company’s Board of Directors on June 5, 2018.