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Update to Shareholders

I want to update all our shareholders as to where we are now. Since the last letter providing you with a bit of history and our need for funds to keep us going until a Joint Venture or sale of our assets could be secured, I have received numerous calls and emails seeking more information with a sincere desire to help. Unfortunately, most were simply not in a financial position to assist. Our CPA firm has received $7,000 from our Directors, Eric, Glenn, and Robert D. to date with an additional $3,000 pledged by Robert M. In addition, several like Richard promised to discuss with their spouses. Our CPA paid $3,928.50 to the Nevada Agency & Transfer Company due April 24th for the annual Business License, Registration, & Registered Agent fee. Curtis (CPA) also paid $2,784.24 to the State of Arizona for Rental & Non-Scheduled Royalties due May 4th.

More importantly, regarding our lease with the Arizona Land Department, I was able to obtain an extension for the required liability insurance so the $26,325 is presently on hold and our lease is secure for now which is a real blessing for such a time as this. I personally paid NMC’s March expenses of $3,120 and took no salary. The Director’s & Officer’s Liability Insurance of $27,766 is due May 3rd, however, I have a contingency plan just in case we cannot raise enough funds in time to protect our Directors and  Officers as we can finance at 18% interest with a down-payment of $5,136.71, paying over ten months. Having spoken to so many shareholders this past week that promised to consider helping us, it is my hope that more funds are on the way as your prayer and financial support are greatly appreciated.

In your service,

Michael Sheppard

michaelsheppard@comcast.net
(615) 400-1099

 

 

Disclaimer: An investment in securities involves a high degree of risk.  These factor are not identified herein but suffice it to say they are substantial as there is no current public market for NMC shares, nor is it expected that such a market is likely to develop unless we sell or joint venture with a publicly held company.

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