On June 1, 2017, Dr. Carson and the Company agreed to extend the agreement to May 31, 2018 under the same terms and conditions. During the term of the agreement, Dr. Carson was paid a base salary in equal semi-monthly installments. During the three months ended June 30, 2019 and 2018, salary and payroll expense totaled $21,840 and $32,760, respectively. During the three months ended June 30, 2019 we incurred $0 of exploration costs as compared to $3,255 during the same period in 2018.

Therefore, Aspirants must download the admit card by providing valid details as in the Application Form. Contenders can go through the complete article to get more information about Karnataka Bank Clerk Admit Card 2019. Karnataka Bank Hall Ticket 2019has been released on 17th August 2019. The Interview Call Letter is available for the candidates who cleared the written examination. Candidates got cleared in the examination can download the Call Letter from the below table. The Karnataka bank Clerk Interview will be held from 28th August to 09th September 2019. Candidates interested in CMOH Jobs can check their eligibility with the details below to apply online.

• We have not presently determined whether the properties to which we have mining rights contain mineral reserves that are economically recoverable.
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• “Non-Employee Director” means a member of the Board who, at the time of his or her service, is not an employee of the Company or any Affiliate.
• In this, the selection process consists of two rounds such as the Written Examination and Interview.
• On December 31, 2014, we again amended the credit agreement to increase the borrowing limit to $900,000 and extend the maturity date to December 31, 2015.
• During the six months ended June 30, 2019, $32,500 was received from a third party with the intention to convert to a note payable of which the terms are still being finalized.

In January 2014, we entered into an additional unsecured loan from Mr. Power, evidenced by a $50,000 promissory note. The ICO (cryptocurrencies) promissory note bears interest at 6.75% per annum and is payable on demand with thirty days’ notice from the lender.

In addition, the Company entered into an agreement to purchase a comprehensive El Dorado data package including diamond drill core and technical information for a price of $120,000, payable in cash and Magellan common stock. As of December 31, 2018, $10,000 of cash and 20,261 shares of common stock, with an issuance day fair value of $18,235, have been issued. As of June 30, 2019, $40,000 in cash and $30,000 in stock is due and payable under this agreement.

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Some leasing arrangements may require variable payments that are dependent on usage, output, or may vary for other reasons, such as insurance and tax payments. The variable lease payments are not presented as part of the initial ROU asset or lease liability. The Company’s lease agreements do not contain any material restrictive covenants.

There were no changes in our internal control over financial reporting that occurred during the last fiscal quarter covered by this report that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting. Our financial instruments which potentially subject us to credit risk are our cash and cash equivalents. We maintain our cash and cash equivalents at reputable financial institutions and currently, we are not exposed to significant credit risk.

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Our consolidated financial statements have been prepared on a going concern basis, which assumes that we will be able to meet our obligations and continue our operations during the next fiscal year. Asset realization values may be significantly different from carrying values as shown in our consolidated financial statements and do not give effect to adjustments that would be necessary to the carrying values of assets and liabilities should we be unable to continue as a going concern. At June 30, 2019 we had a working capital deficit, we had not yet generated any significant revenues or achieved profitable operations and we have accumulated losses of $7,558,633. We expect to incur further losses in the development of our business, all of which raises substantial doubt as to our ability to continue as a going concern. Our ability to continue as a going concern depends on our ability to generate future profits and/or to obtain the necessary financing to meet our obligations arising from normal business operations when they come due.

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The properties acquired from Columbus were assigned into our subsidiary Gulf+Western Industries, Inc. and our total acquisition cost capitalized was $323,200. The units are to be settled by the Company by the issuance of restricted Common Stock after vesting as more fully set forth in the Restricted Stock Unit Agreement.

The purchase price for the SDA Mill consisted of $850,000 cash, a $50,000 promissory note, the $50,000 non-refundable option payment, the $100,000 for the option-to-purchase payment, and 284,017 shares of common stock (the “Shares”) with a fair value of $426,025 at the closing date. The lexatrade reviews note is non-interest bearing and was due on March 10, 2018 and paid in April 2018. The Shares were held in escrow for a period of 12 months and the Company had the option to repurchase the Shares from Rose for the sum of $500,000 in the first six months and $550,000 in months 7 to 12.

In January 2019 the Company issued Mr. Martinez 14,118 shares in settlement of liabilities for services provided in 2018 of $24,000. The Company also agreed to issue 2,000 shares for services rendered during the six months ended June 30, 2019. The Company recognized expense of $5,600 related to this commitment, and the shares were issued in April 2019. During the six months ended June 30, 2019, $32,500 was received from a third party with the intention to convert to a note payable of which the terms are still being finalized. The amounts received are included in Advanced payable, third party on the balance sheet. On December 31, 2013 we amended our credit agreement with Mr. Gibbs to increase the borrowing limit under the line of credit to $750,000.

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