Nature of Operations. Tasman Metals Ltd. ("
Nature of Operations. Washington Gas Light Company (Washington Gas or the company) is a public utility that delivers and sells natural gas to over 875,000 customers in Washington, D.C. and parts of Maryland and Virginia. Deliveries to firm customers accounted for 68.7 percent of the company’s total therm deliveries in fiscal year 2000. The company does not depend on one customer or group of customers. During the fiscal year ended September 30, 2000, the company had a regulated distribution company, Shenandoah Gas Company (Shenandoah) that served the northern Shenandoah Valley in Virginia. Effective April 1, 2000, that subsidiary’s operations were merged into Washington Gas and the company continues to serve the former subsidiary’s customers. The company also had one wholly owned regulated subsidiary that operates an underground gas storage field on the company’s behalf. In fiscal year 2000, most of the company’s unregulated operations were organized under a wholly owned subsidiary, Washington Gas Resources Corp. (Washington Gas Resources). These unregulated operations include retail energy marketing; heating, ventilating and air conditioning (HVAC) products and services; and financing of gas appliances and other energy-related equipment for consumers. Effective November 1, 2000, a corporate restructuring occurred in which Washington Gas and its subsidiaries became separate subsidiaries of WGL Holdings, Inc. (WGL Holdings), a newly formed holding company. See Note 2 for details regarding the restructuring.
Nature of Operations. Substantially change the nature or operations of their business as conducted on the date hereof;
Nature of Operations. The Town hereby grants to the Service Provider, in accordance with the Town’s ordinances and regulations governing the collection, hauling and disposal of Municipal Solid Waste and Construction and Demolition Waste, the title to all Municipal Solid Waste or Construction and Demolition Waste collected, hauled and disposed of by the Service Provider over, upon, along and across the present and future streets, alleys, bridges, rights-of-ways and public properties. All title to and liability for materials excluded from this Agreement shall remain with the generator of such materials.
Nature of Operations. The Company is a diversified corporation with primary revenues and assets based in four different segments: Transportation, Forestry, Sugar and Real Estate. The Forestry segment has operations in both Florida and Georgia while the remaining segments operate principally within the state of Florida. Transportation -- The Transportation segment, which accounted for 56% of the Company's net sales and operating revenues in 1995, consists of both railway and trucking operations. The two railroads, one serving the northwest Florida area from Port St. Xxx to Chattahoochee and the other serving the eastern seaboard of Florida from Jacksonville to Miami, provide transportation services for the common carriage of goods by rail between their terminating points. Since the rail operations are within the state of Florida, more than one-half of its transportation revenue is generated by shipments which originate and terminate within Florida. Additionally, a significant portion of the traffic handled is received from or transferred to other rail carriers. The principal commodities carried by rail include crushed stone, cement, automobile vehicles and parts, trailer-on-flatcar, container-on-flatcar, basic consumer goods such as foodstuffs and building material, coal, pulpboard, pulpwood, woodchips, tall oil chemicals, stone and clay products and recyclables. The trucking portion of the Company's operation is an interstate, irregular route, common carrier with terminals located throughout the eastern half of the United States. Forestry -- The Forestry segment, which accounted for 18% of the Company's net sales and operating revenues in 1995, consists of the growing and harvesting of timber on approximately one million acres of timberlands in Florida and Georgia. The major customer for the wood harvested by the Company has been the Company's linerboard mill. As discussed in Note 3, the Company has agreed to sell its linerboard mill. The Company will retain its timberlands and will enter into a fifteen year fiber supply agreement with the buyer with two five-year extensions. Annual wood fiber tonnage to be supplied from the Company's lands will not exceed that currently provided and will be at negotiated market prices adjusted on a quarterly basis. The Company plans in the future to shift its remaining fiber production from the Company's lands to higher margin timber products. Sugar -- The Sugar segment, which accounted for 17% of the Company's net sales and operating revenues...
Nature of Operations. The Company’s and Bank’s revenues, operating income and assets are primarily from the banking industry. The Bank operates ten offices in Adams, Brown, Fayette and Highland Counties in Ohio. The Bank generates commercial, mortgage and consumer loans and receives deposits from customers located primarily in South-central Ohio. Accordingly, a substantial portion of the debtors’ ability to honor their contracts is dependent upon the financial health of the local economy and market. The Bank is a state chartered bank subject to regulation by the Ohio Department of Commerce, Division of Financial Institutions and the Federal Deposit Insurance Corporation (FDIC). The Bank is also a member of the Federal Home Loan Bank (FHLB) system, and as a member, maintains a required investment in the capital stock of the FHLB of Cincinnati. Deposit accounts are insured within certain limitations by the Deposit Insurance Fund (DIF), which is administered by the FDIC. An annual premium is required by the DIF for insurance of such deposits. Basis of presentation The accounting and reporting policies of the Company conform with accounting principles generally accepted in United States of America (GAAP) as contained in the Accounting Standards Codification (ASC) issued by the Financial Accounting Standards Board (FASB) and general practices within the financial services industry. Use of estimates The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the allowance for loan losses. Actual results could differ from those estimates. Cash and cash equivalents For purposes of the consolidated statement of cash flows, cash includes federal funds sold and other interest earning demand deposits. The Company and Bank may at times maintain deposit accounts with other financial institutions in excess of FDIC limits. The Company and Bank have not experienced any losses in such accounts and do not believe they are exposed to any significant credit risk on cash. Investment securities Investment securities are classified upon acquisition into one of three categories: held-to-maturit...
Nature of Operations. The St. Xxx Company, (the "Company") is a real estate operating company primarily engaged in community residential, commercial, hospitality and leisure resort development, along with residential and commercial real estate services and land sales. The Company also has significant interests in timber and a transportation operation. Until recently, the Company also had ongoing sugar operations, which it discontinued for accounting purposes in the fourth quarter of 1998 and ceased all operations by the end of 1999. While the Company's real estate operations are in various states throughout the southeast, the majority of the real estate operations, as well as the transportation operation, are principally within the state of Florida. Forestry has operations in both Florida and Georgia. Consequently, the Company's performance, and particularly that of its real estate operations, is significantly affected by the general health of the Florida economy. FLA Spin-off On October 9, 2000, the Company distributed to its shareholders all of its equity interest in Florida East Coast Industries, Inc. ("FLA"). To effect the distribution, the Company exchanged its 19,609,216 shares of FLA common stock for an equal number of shares of a new class of FLA common stock. On October 9, 2000, the new class of stock, FLA.B, was distributed pro-rata to the Company's shareholders in a tax-free distribution. For each share of the Company common stock owned of record on September 18, 2000, the Company's shareholders received 0.23103369 of a share of FLA.B common stock. The holders of the new class of FLA common stock will be entitled to elect 80% of the members of the Board of Directors of FLA, but the new FLA common stock will otherwise have substantially identical rights to the existing common stock. The Company did not retain any equity interest in FLA after the spin-off. The December 31, 2000 balance sheet reflects the deconsolidation and dividend distribution at net book value of the Company's 54% equity interest in FLA as of October 9, 2000, which totaled $393,460. The results of operations of FLA have been included in the Company's consolidated results of operations through October 9, 2000. In contemplating the spin-off, the Company and FLA entered into an Amended and Restated Master Agreement, which provides for several property management and development service agreements between the two companies. In consideration of FLA's execution of the Amended and Restated Master Agreement...
Nature of Operations. Applicant shall continue to operate its Facility as described in Section 5 and shall not substantially reduce or change the nature of the Facility’s operations except by written amendment pursuant to Section 14.
Nature of Operations. The City hereby grants to the Service Provider, in accordance with the City's ordinances and regulations governing the collection, hauling and recycling or disposal of Household Hazardous Waste, the title to all Household Hazardous Waste collected, hauled and recycled or disposed of by the Service Provider over, upon, along and across the City's present and future streets, alleys, bridges and public properties. All title to and liability for materials excluded from this Agreement shall remain with the generator of such materials.
Nature of Operations. BASIC OF PRESENTATION CLI Resources Inc. (the “Company” or “CLI”) was incorporated on October 16, 2009. Pursuant to the Plan of Arrangement, dated November 2, 2009, between the Company and its former parent company, RTN Stealth Software Inc. (“RTN”) which was formerly known as Arris Resources Inc., the Company owned substantially all of RTN’s Interests in five mineral claims in Atlin, British Columbia. As consideration for this asset, the Company had issued 17,583,372 common shares to RTN, which were distributed to the shareholders of RTN pro-rata based on their relative shareholdings of RTN (Note 4). Upon completion of this transaction, the Company became an exploration and development stage company with the principal business being the exploration and development of mining properties. The Company may also acquire additional properties and will carry out early stage exploration on such mineral properties and then sell, option or joint venture the properties. These interim financial statements have been prepared in accordance with Canadian generally accepted accounting principles (“Canadian GAAP”) pursuant to the recommendations of the Canadian Institute of Chartered Accountants (“CICA”) standard on interim financial statements. These interim financial statements do not include all the disclosures as required for annual financial statements under Canadian GAAP and should be read in conjunction with the Company's audited annual financial statements for the year ended June 30, 2010, which are available through the internet on SEDAR at xxx.xxxxx.xxx. Operating results for the three months ended September 30, 2010 are not necessarily indicative of the results that may be expected for the full year ending June 30, 2011 or for any other periods. These interim financial statements have been prepared in accordance with Canadian GAAP with the assumption that the Company will be able to realize its assets and discharge its liabilities in the normal course of business rather than through a process of forced liquidation. The Company’s continuing operations, as intended, and its financial success may be dependent upon the extent to which it can discover mineralization and the economic viability of developing any such additional properties. The discovery of mineralization and the development of properties to the point where they may be sold, optioned, or joint ventured may take years to complete and the amount of resulting income, if any, is difficult to determine with ...
