(a) Business Development

We were originally incorporated as McGinnis-Powell & Sons, Inc., under the laws of the State of Montana on July 29, 1983. Our corporate name was changed to "Missouri River Gold and Gem Corp." in September of 1984. In 1985, we conducted a public offering of our common stock pursuant to a Regulation A exemption from registration under the Securities Act of 1933. Proceeds of the offering were used to acquire equipment and search for commercial quantities of quality gemstones and gold along six thousand feet of the Missouri River, which was leased from the State of Montana. No commercial quantities of gold or gems were found.
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