Statements of Cash Flows. 7 Notes to the Financial Statements.............................. 8 AMCI INTERNATIONAL, INC. (A Development Stage Company) Balance Sheet ASSETS ------ June 30, December 31, 1999 1998 ------------ --------- CURRENT ASSETS (Unaudited) Cash $ - $ - -------- --------- Total Current Assets - - -------- --------- TOTAL ASSETS $ - $ ======== ========= LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) ---------------------------------------------- CURRENT LIABILITIES Accounts payable $ 13,854 $ 9,881 -------- --------- Total Current Liabilities 13,854 9,881 -------- --------- TOTAL LIABILITIES 13,854 9,881 -------- --------- STOCKHOLDERS' EQUITY (DEFICIT) Common stock: 50,000,000 shares authorized of $0.001 par value, 1,471,391 shares issued and outstanding 1,471 1,471 Additional paid-in capital 74,894 73,654 Deficit accumulated during the development stage (90,219) (85,006) -------- --------- Total Stockholders' Equity (Deficit) (13,854) (9,881) -------- --------- TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ - $ - ======== ========= The accompanying notes are an integral part of these financial statements AMCI INTERNATIONAL, INC (The Development Stage Company) Statements of Operations (Unaudited) From For the For the Inception on Three Months ended Six Months Ended July 26, June 30, June 30, 1983 Through ---------------------------- -------------------------- June 30, 1999 1998 1999 1998 1999 --------- -------- --------- -------- --------- REVENUES $ - $ - $ - $ - $ - EXPENSES 947 8,565 5,213 8,565 90,219 ---------- -------- --------- -------- --------- NET INCOME $ (947) $ (8,565) (5,213) $ (8,565) $ (90,219) ========== ======== ========= ======== ========= BASIC NET LOSS PER SHARE OF COMMON STOCK $ (0.00) $ (0.00) $ (0.00) $ (0.00) ========== ======== ========= ======== BASIC WEIGHTED AVERAGE OF SHARES OUTSTANDING 1,471,391 1,471,391 1,471,391 1,471,391 ========== ========= ========== ========= ========= The accompanying notes are an integral part of these financial statements AMCI INTERNATIONAL, INC. (A Development Stage Company Statements of Stockholders' Equity (Deficit) Deficit Accumulated Common Stock Additional During the ------------------------- Paid-in Development Shares Amount Capital Stage --------- --------- --------- --------- At inception on July 26, 1983 - $ - $ - $ - Common stock issued for services at $0.20 per share 4,772 5 949 - Common stock issued for cash at approximately $2.00 per share 12,500 12 24,988 - Common stock issued to acquire subsidiary recorded at predecessor cost of $0.00 27,000 27 (27) - Net loss from inception July 26, 1983 to December 31, 1994 - - - (27,155) ----------- ------- -------- --------- Balance, December 31, 1994 44,272 44 25,910 (27,155) Net loss for the year ended December 31, 1995 - - - (100) ----------- ------- -------- --------- Balance, December 31, 1995 44,272 44 25,910 (27,255) Common stock issued for services at approximately $0.03 per share 1,427,088 1,427 39,800 - Stock split adjustment 31 - - Contributed capital - - 1,920 - Net loss for the year ended December 31, 1996 - - - (42,746) ----------- ------- -------- --------- Balance, December 31, 1996 1,471,391 1,471 67,630 (70,001) Contributed capital - - 2,991 - Net loss for the year ended December 31, 1997 - - - (4,136) ----------- ------- -------- --------- Balance, December 31, 1997 $ 1,471,391 $ 1,471 $ 70,621 $ (74,137) ----------- ------- -------- --------- Contributed capital - - 3,033 - Net loss for the year ended December 31, 1998 - - - (10,869) ----------- ------- -------- --------- Balance, December 31, 1998 1,471,391 $ 1,471 $ 73,654 $ (85,006) =========== ======= ======== ========= The accompanying notes are an integral part of these financial statements AMCI INTERNATIONAL, INC. (A Development Stage Company Statements of Stockholders' Equity (Deficit) (Continued) Deficit Accumulated Common Stock Additional During the ------------------------ Paid-in Development Shares Amount Capital Stage ---------- -------- ----------- ----------------- Balance, December 31, 1998 1,471,391 $ 1,471 $ 73,654 $ (85,006) Contributed capital (unaudited) - - 1,240 - Net loss for the six months ended June 30, 1999 (unaudited) - - - (5,213) --------- ------- -------- --------- Balance, June 30, 1999 (unaudited) 1,471,391 $ 1,471 $ 74,894 $ (90,219) ========= ======= ======== ========= The accompanying notes are an integral part of these financial statements AMCI INTERNATIONAL, INC. (A Development Stage Company Statement of Cash Flows (Unaudited) From For the For the Inception on Three Months ended Six Months Ended July 26, June 30, June 30, 1983 Through ---------------------- -------------------- June 30, 1999 1998 1999 1998 1999 ------ ------ ------ ------ ------ CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (947) $ (8,565) $ (5,213) $ (8,565) $ (90,219) Adjustments to reconcile net loss to net cash used by operating activities: Contributed capital for expenses 1,000 1,747 1,240 1,747 9,184 Stock issued for services - - - - 42,181 Increase (decrease) in accounts payable (53) 6,818 3,973 6,818 13,854 ------- -------- -------- -------- --------- Net Cash Used by Operating Activities - - - - (25,000) ------- -------- -------- -------- --------- CASH FLOWS FROM INVESTING ACTIVITIES: - - - - - ------- -------- -------- -------- --------- CASH FLOWS FROM FINANCING ACTIVITIES: Issuance of common stock for cash - - - - 25,000 ------- -------- -------- -------- --------- Net Cash Provided by Financing Activities - - - - 25,000 ------- -------- -------- -------- --------- NET INCREASE (DECREASE) IN CASH - - - - - ------- -------- -------- -------- --------- CASH AT BEGINNING OF PERIOD - - - - - ------- -------- -------- -------- --------- CASH AT END OF PERIOD $ - $ - $ - $ - - ======= ======== ======== ======== ========= CASH PAID FOR: Interest $ - $ - $ - $ - $ - Income taxes $ - $ - $ - $ - $ - NON-CASH FINANCING ACTIVITIES Contributed capital for expenses $ 1,000 $ 1,747 $ 1,240 $ 1,277 $ 9,184 Common stock issued for services $ - $ - $ - $ - $ 42,181 The accompanying notes are an integral part of these financial statements AMCI INTERNATIONAL, INC. (A Development Stage Company Notes to the Financial Statements December 31, 1998 NOTE 1 - ORGANIZATION AND HISTORY The Company was incorporated on July 26, 1983 under the laws of State of Utah as HJK, Ltd. The purpose of the business was to acquire and operate or lease natural resource properties and engage in mining, milling, production, buying and developing natural resource properties. On August 16, 1985 the Company issued 27,000 shares common stock to acquire 100% of the common stock of AMCI International, Inc. (AMCI). AMCI was engaged in manufacturing and selling quality furniture. The subsidiary was involuntarily dissolved on December 31, 1987. Presently, the Company is seeking a new business opportunity.
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Statements of Cash Flows. 7 Notes to For the Financial Statements.............................. 8 AMCI INTERNATIONAL, INC. (A Development Stage Company) Balance Sheet ASSETS ------ June Nine Months Ended September 30, December 31, 2000 and 1999 1998 ------------ --------- CURRENT ASSETS (Unaudited) 2000 1999 ---- ---- Net cash provided by (used for) operating activities $29,914 $(57,497) Net cash used for investing activities ($16,776) ($43,763) Net cash used for financing activity ($3,200,000) -- ------------- ----------- Net decrease in cash and cash equivalents ($3,186,862) ($101,260) Cash $ - $ - -------- --------- Total Current Assets - - -------- --------- TOTAL ASSETS $ - $ and cash equivalents, beginning $3,359,153 $159,298 ------------- ----------- Cash and cash equivalents, ending $172,291 $58,038 ======== ========= LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) ---------------------------------------------- CURRENT LIABILITIES Accounts payable $ 13,854 $ 9,881 -------- --------- Total Current Liabilities 13,854 9,881 -------- --------- TOTAL LIABILITIES 13,854 9,881 -------- --------- STOCKHOLDERS' EQUITY (DEFICIT) Common stock: 50,000,000 shares authorized of $0.001 par value, 1,471,391 shares issued and outstanding 1,471 1,471 Additional paid-in capital 74,894 73,654 Deficit accumulated during the development stage (90,219) (85,006) -------- --------- Total Stockholders' Equity (Deficit) (13,854) (9,881) -------- --------- TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ - $ - ======== ========= The accompanying notes are an integral part of these financial statements AMCI INTERNATIONAL, INC (The Development Stage Company) Statements of Operations (Unaudited) From For the For the Inception on Three Months ended Six Months Ended July 26, June 30, June 30, 1983 Through ---------------------------- -------------------------- June 30, 1999 1998 1999 1998 1999 --------- -------- --------- -------- --------- REVENUES $ - $ - $ - $ - $ - EXPENSES 947 8,565 5,213 8,565 90,219 ---------- -------- --------- -------- --------- NET INCOME $ (947) $ (8,565) (5,213) $ (8,565) $ (90,219) ========== ======== ========= FROM FORM 10-KSB FOR YEAR ENDING DECEMBER 31, 1999 BALANCE SHEET ASSETS Cash and cash equivalents $3,359,153 Interest receivable $12,664 Marketable securities, at fair value $1,055,252 Investment in Local Limited Partnerships $246,883 ----------- Total Assets $4,673,952 ======== ========= BASIC NET LOSS PER SHARE OF COMMON STOCK $ (0.00) $ (0.00) $ (0.00) $ (0.00) ========== LIABILITIES AND PARTNERS' EQUITY LIABILITIES: Accounts payable to affiliate (Note 6) $7,156 Accounts payable and accrued expenses $37,180 ======== ========= ======== BASIC WEIGHTED AVERAGE OF SHARES OUTSTANDING 1,471,391 1,471,391 1,471,391 1,471,391 ========== Total Liabilities $44,336 Partners' Equity $4,629,616 ------------ Total Liabilities and Partners' Equity $4,673,952 ============ STATEMENTS OF OPERATIONS For the Years Ended December 31, 1999 and 1998 1999 1998 ---- ---- REVENUE: Distribution income $126,726 $198,606 Investment $63,439 $53,747 Other $1,955 $7,825 ---------- ---------- Total Revenue $192,120 $260,178 ---------- ---------- EXPENSES: General and administrative expenses (includes reimbursements to affiliates in the amounts of $62,410 and $64,244, respectively) $109,653 $112,156 Management Fees, related party $18,924 $19,860 ---------- ---------- Total Expenses $128,577 $132,016 ---------- ---------- Income before equity in income of Local Limited Partnerships and loss on disposition $63,543 $128,162 ---------- ---------- Equity in income of Local Limited Partnerships $3,509,392 -- ---------- ---------- Net Income $3,572,935 $128,162 ========== ========== Net Income allocated: To General Partners $38,271 $6,408 To Limited Partners $3,534,664 $121,754 ---------- ---------- $3,572,935 $128,162 ========== ========== The accompanying notes are an integral part Basic income before equity in income of these financial statements AMCI INTERNATIONAL, INC. Local Limited Partnership and loss on disposition of Interest allocated to the Limited Partners per Limited Partnership Unit (A Development Stage Company Statements of Stockholders' Equity (Deficit21,915 Units) Deficit Accumulated Common Stock Additional During the ------------------------- Paid-in Development Shares Amount Capital Stage --------- --------- --------- --------- At inception on July 26, 1983 - $ - $ - $ - Common stock issued for services at $0.20 per share 4,772 5 949 - Common stock issued for cash at approximately 2.75 $2.00 per share 12,500 12 24,988 - Common stock issued to acquire subsidiary recorded at predecessor cost of $0.00 27,000 27 (27) - Net loss from inception July 26, 1983 to December 31, 1994 - - - (27,155) ----------- ------- -------- --------- Balance, December 31, 1994 44,272 44 25,910 (27,155) Net loss for the year ended December 31, 1995 - - - (100) ----------- ------- -------- --------- Balance, December 31, 1995 44,272 44 25,910 (27,255) Common stock issued for services at approximately $0.03 per share 1,427,088 1,427 39,800 - Stock split adjustment 31 - - Contributed capital - - 1,920 - Net loss for the year ended December 31, 1996 - - - (42,746) ----------- ------- -------- --------- Balance, December 31, 1996 1,471,391 1,471 67,630 (70,001) Contributed capital - - 2,991 - Net loss for the year ended December 31, 1997 - - - (4,136) ----------- ------- -------- --------- Balance, December 31, 1997 $ 1,471,391 $ 1,471 $ 70,621 $ (74,137) ----------- ------- -------- --------- Contributed capital - - 3,033 - Net loss for the year ended December 31, 1998 - - - (10,869) ----------- ------- -------- --------- Balance, December 31, 1998 1,471,391 $ 1,471 $ 73,654 $ (85,006) =5.56 ========== =========== Equity income and loss on disposition of interest allocated to the Limited Partners per Limited Partnership Unit (21,915 Units) $158.54 -- ========== ========== The accompanying notes are an integral part of these financial statements AMCI INTERNATIONAL, INC. Basic Net Income per Limited Partnership Unit (A Development Stage Company Statements of Stockholders' Equity (Deficit21,915 Units) (Continued) Deficit Accumulated Common Stock Additional During the ------------------------ Paid-in Development Shares Amount Capital Stage ---------- -------- ----------- ----------------- Balance, December 31, 1998 1,471,391 $ 1,471 $ 73,654 $ (85,006) Contributed capital (unaudited) - - 1,240 - Net loss for the six months ended June 30, 1999 (unaudited) - - - (5,213) --------- ------- -------- --------- Balance, June 30, 1999 (unaudited) 1,471,391 $ 1,471 $ 74,894 $ (90,219) $161.29 $5.56 ========= ======= ======== ========== The accompanying notes are an integral part of these financial statements AMCI INTERNATIONAL, INC. (A Development Stage Company Statement of Cash Flows (Unaudited) From STATEMENTS OF CASH FLOWS For the For the Inception on Three Months ended Six Months Years Ended July 26, June 30, June 30, 1983 Through ---------------------- -------------------- June 30December 31, 1999 and 1998 1999 1998 1999 ------ ------ ------ ------ ------ CASH FLOWS FROM OPERATING ACTIVITIES---- ---- Cash flows from operating activities: Net loss $ (947) $ (8,565) $ (5,213) $ (8,565) $ (90,219) income $3,572,935 $128,162 Adjustments to reconcile net loss income to net cash used by for operating activities: Contributed capital for expenses 1,000 1,747 1,240 1,747 9,184 Stock issued for services - - - - 42,181 Equity in income of Local Limited Partnerships ($3,509,392) -- Distribution income included in cash distributions received from Local Limited Partnerships ($126,726) ($198,606) Gains on sales of marketable securities ($846) ($821) Increase (decrease) in accounts cash arising from changes in operating assets and liabilities: Interest receivable ($1,306) $1,834 Other assets $1,475 $51 Accounts payable to affiliates $1,943 $103 Accounts payable and accrued expenses $4,255 (53$1,950) 6,818 3,973 6,818 13,854 ------- -------- -------- -------- --------- ---------- ----------- Net cash used for operating activities ($57,662) ($71,227) ---------- ----------- Cash Used flows from investing activities: Purchases of marketable securities ($1,096,704) ($1,124,016) Proceeds from sales and maturities of marketable securities $964,986 $1,013,095 Cash distributions received from Local Limited Partnerships $3,389,235 $198,606 ---------- ----------- Net cash provided by Operating Activities - - - - (25,000) ------- -------- -------- -------- --------- CASH FLOWS FROM INVESTING ACTIVITIES: - - - - - ------- -------- -------- -------- --------- CASH FLOWS FROM FINANCING ACTIVITIES: Issuance of common stock for investing activities $3,257,517 $87,685 ---------- ----------- Net increase in cash - - - - 25,000 ------- -------- -------- -------- --------- Net and cash equivalents $3,199,855 $16,458 Cash Provided by Financing Activities - - - - 25,000 ------- -------- -------- -------- --------- NET INCREASE (DECREASE) IN CASH - - - - - ------- -------- -------- -------- --------- CASH AT BEGINNING OF PERIOD - - - - - ------- -------- -------- -------- --------- CASH AT END OF PERIOD $ - $ - $ - $ - - and cash equivalents, beginning $159,298 $142,840 ---------- ----------- Cash and cash equivalents, ending $3,359,153 $159,298 ======= ======== ======== ======== ========= CASH PAID FOR: Interest $ - $ - $ - $ - $ - Income taxes $ - $ - $ - $ - $ - NON-CASH FINANCING ACTIVITIES Contributed capital for expenses $ 1,000 $ 1,747 $ 1,240 $ 1,277 $ 9,184 Common stock issued for services $ - $ - $ - $ - $ 42,181 The accompanying notes are an integral part of these financial statements AMCI INTERNATIONAL, INC. (A Development Stage Company Notes to the Financial Statements December 31, 1998 NOTE 1 - ORGANIZATION AND HISTORY The Company was incorporated on July 26, 1983 under the laws of State of Utah as HJK, Ltd. The purpose of the business was to acquire and operate or lease natural resource properties and engage in mining, milling, production, buying and developing natural resource properties. On August 16, 1985 the Company issued 27,000 shares common stock to acquire 100% of the common stock of AMCI International, Inc. (AMCI). AMCI was engaged in manufacturing and selling quality furniture. The subsidiary was involuntarily dissolved on December 31, 1987. Presently, the Company is seeking a new business opportunity.===
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Sources: Offer to Purchase (Equity Resource Group Inc Et Al)
Statements of Cash Flows. 7 Notes to the Financial Statements.............................. 8 AMCI INTERNATIONAL, INC. (A Development Stage Company) Balance Sheet ASSETS ------ June 30, December 31, 1999 1998 ------------ --------- CURRENT ASSETS (Unaudited) Cash $ - $ - -------- --------- Total Current Assets - - -------- --------- TOTAL ASSETS $ - $ - ======== ========= LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) ---------------------------------------------- CURRENT LIABILITIES Accounts payable $ 13,854 $ 9,881 -------- --------- Total Current Liabilities 13,854 9,881 -------- --------- TOTAL LIABILITIES 13,854 9,881 -------- --------- STOCKHOLDERS' EQUITY (DEFICIT) Common stock: 50,000,000 shares authorized of $0.001 par value, 1,471,391 shares issued and outstanding 1,471 1,471 Additional paid-in capital 74,894 73,654 Deficit accumulated during the development stage (90,219) (85,006) -------- --------- Total Stockholders' Equity (Deficit) (13,854) (9,881) -------- --------- TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ - $ - ======== ========= The accompanying notes are an integral part of these financial statements AMCI INTERNATIONAL, INC (The Development Stage Company) Statements of Operations (Unaudited) From For the For the Inception on Three Months ended Six Months Ended July 26, June 30, June 30, 1983 Through ---------------------------- -------------------------- June 30, 1999 1998 1999 1998 1999 --------- -------- --------- -------- --------- REVENUES $ - $ - $ - $ - $ - EXPENSES 947 8,565 5,213 8,565 90,219 ---------- -------- --------- -------- --------- NET INCOME $ (947) $ (8,565) (5,213) $ (8,565) $ (90,219) ========== ======== ========= ======== ========= BASIC NET LOSS PER SHARE OF COMMON STOCK $ (0.00) $ (0.00) $ (0.00) $ (0.00) ========== ======== ========= ======== BASIC WEIGHTED AVERAGE OF SHARES OUTSTANDING 1,471,391 1,471,391 1,471,391 1,471,391 ========== ========= ========== ========= ========= The accompanying notes are an integral part of these financial statements AMCI INTERNATIONAL, INC. (A Development Stage Company Statements of Stockholders' Equity (Deficit) Deficit Accumulated Common Stock Additional During the ------------------------- Paid-in Development Shares Amount Capital Stage --------- --------- --------- --------- At inception on July 26, 1983 - $ - $ - $ - Common stock issued for services at $0.20 per share 4,772 5 949 - Common stock issued for cash at approximately $2.00 per share 12,500 12 24,988 - Common stock issued to acquire subsidiary recorded at predecessor cost of $0.00 27,000 27 (27) - Net loss from inception July 26, 1983 to December 31, 1994 - - - (27,155) ----------- ------- -------- --------- Balance, December 31, 1994 44,272 44 25,910 (27,155) Net loss for the year ended December 31, 1995 - - - (100) ----------- ------- -------- --------- Balance, December 31, 1995 44,272 44 25,910 (27,255) Common stock issued for services at approximately $0.03 per share 1,427,088 1,427 39,800 - Stock split adjustment 31 - - Contributed capital - - 1,920 - Net loss for the year ended December 31, 1996 - - - (42,746) ----------- ------- -------- --------- Balance, December 31, 1996 1,471,391 1,471 67,630 (70,001) Contributed capital - - 2,991 - Net loss for the year ended December 31, 1997 - - - (4,136) ----------- ------- -------- --------- Balance, December 31, 1997 $ 1,471,391 $ 1,471 $ 70,621 $ (74,137) ----------- ------- -------- --------- Contributed capital - - 3,033 - Net loss for the year ended December 31, 1998 - - - (10,869) ----------- ------- -------- --------- Balance, December 31, 1998 1,471,391 $ 1,471 $ 73,654 $ (85,006) =========== ======= ======== ========= The accompanying notes are an integral part of these financial statements AMCI INTERNATIONAL, INC. (A Development Stage Company Statements of Stockholders' Equity (Deficit) (Continued) Deficit Accumulated Common Stock Additional During the ------------------------ Paid-in Development Shares Amount Capital Stage ---------- -------- ----------- ----------------- Balance, December 31, 1998 1,471,391 $ 1,471 $ 73,654 $ (85,006) Contributed capital (unaudited) - - 1,240 - Net loss for the six months ended June 30, 1999 (unaudited) - - - (5,213) --------- ------- -------- --------- Balance, June 30, 1999 (unaudited) 1,471,391 $ 1,471 $ 74,894 $ (90,219) ========= ======= ======== ========= The accompanying notes are an integral part of these financial statements AMCI INTERNATIONAL, INC. (A Development Stage Company Statement of Cash Flows (Unaudited) From For the For the Inception on Three Months ended Six Months Ended July 26, June 30, June 30, 1983 Through ---------------------- -------------------- June 30, 1999 1998 1999 1998 1999 ------ ------ ------ ------ ------ CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (947) $ (8,565) $ (5,213) $ (8,565) $ (90,219) Adjustments to reconcile net loss to net cash used by operating activities: Contributed capital for expenses 1,000 1,747 1,240 1,747 9,184 Stock issued for services - - - - 42,181 Increase (decrease) in accounts payable (53) 6,818 3,973 6,818 13,854 ------- -------- -------- -------- --------- Net Cash Used by Operating Activities - - - - (25,000) ------- -------- -------- -------- --------- CASH FLOWS FROM INVESTING ACTIVITIES: - - - - - ------- -------- -------- -------- --------- CASH FLOWS FROM FINANCING ACTIVITIES: Issuance of common stock for cash - - - - 25,000 ------- -------- -------- -------- --------- Net Cash Provided by Financing Activities - - - - 25,000 ------- -------- -------- -------- --------- NET INCREASE (DECREASE) IN CASH - - - - - ------- -------- -------- -------- --------- CASH AT BEGINNING OF PERIOD - - - - - ------- -------- -------- -------- --------- CASH AT END OF PERIOD $ - $ - $ - $ - - ======= ======== ======== ======== ========= CASH PAID FOR: Interest $ - $ - $ - $ - $ - Income taxes $ - $ - $ - $ - $ - NON-CASH FINANCING ACTIVITIES Contributed capital for expenses $ 1,000 $ 1,747 $ 1,240 $ 1,277 $ 9,184 Common stock issued for services $ - $ - $ - $ - $ 42,181 The accompanying notes are an integral part of these financial statements AMCI INTERNATIONAL, INC. (A Development Stage Company Notes to the Financial Statements December 31, 1998 NOTE 1 - ORGANIZATION AND HISTORY The Company was incorporated on July 26, 1983 under the laws of State of Utah as HJK, Ltd. The purpose of the business was to acquire and operate or lease natural resource properties and engage in mining, milling, production, buying and developing natural resource properties. On August 16, 1985 the Company issued 27,000 shares common stock to acquire 100% of the common stock of AMCI International, Inc. (AMCI). AMCI was engaged in manufacturing and selling quality furniture. The subsidiary was involuntarily dissolved on December 31, 1987. Presently, the Company is seeking a new business opportunity.
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