Blaine Development, Inc.

28 Jun 2011

Blaine Development made a profit of $2,847 and the loan to Gateway Resources USA grew to $29,825.

4 Oct 2010

Blaine Development earned $2,602 in interest during the 09-10 year and made a profit of $2,135.  However because Gateway Resources USA's funds are tied up paying interest and principal to other parties, this profit was on paper only and the loan balance to Gateway Resources USA grew to $27,603.

25 Mar 2010

Blaine Exploration Ltd. (Canada) has increased its credit via Blaine Development, Inc. to Gateway Resources U.S.A., Inc. to $27,375 US.  The objective of providing in-house financing is proceeding ahead and with time will allow me to shift loans from external institutions to internal loans.  We earned $2,265 in interest during the 08-09 year and said funds were reinvested into additional loans to Gateway Resources USA.