SEC Annual Note 4
“On March 24, 2014, the Company resigned as the operator of the Joint Venture with Minerals La Negra S. de R.L. de C.V. and Trinidad Pacifica S. de R.L. de C.V. and sold 50 shares of the minimum fixed capital stock of Mexus Enterprises S.A. de C.V. to First Pursuit Silver de Mexico S. de R.L. de C.V. for the following consideration:
| i) | Assumption of $468,000 of accounts payable; |
| ii) | Payment of $100,000 and $100,000 on July 2014 and July 2015, respectively, on behalf of the Company to Minerales de Tarchi S. de R.L. de C.V. for lease payments under an exploration agreement; |
| iii) | 1,660,000 shares of common stock of Silver Pursuit Resources Limited; and |
| iv) | $4,000,000 due on or before March 24, 2015. |
The sale of Mexus Enterprises S.A. de C.V. met the criteria for being reported as a discontinued operation and has been segregated from continuing operations for all periods presented.”
As I recall the initial $100K payment was to purchase the ejido rights so the 2nd $100K in July should complete that purchase at no cost to Mexus and transfers rights to Atzec ‘s new JV . Was one of the main things they wished to enter our original JV after loan to Kenneth was deemed a total loss and ended our contract.
Today’s PPS .04C worth $53,120. Since sale Mar 24 ’14, 1,260,200 shares traded from 11.5 mullion. According to annual insiders hold near 60% and same near 60% are listed as by institution. All as I usually assumed, Atzec is a private fund wanting to control San Felix for about a decade needing assist to jail Kenneth. Any kind of businessmen would NOT pay a cent of $4 million price much before due date as long as free hand at Trinidad knowing Paul wishes to concentrate totally on other properties. 8