Note C - Transfer of Gold Bar Mill and Associated Liabilities	12 Months Ended
Dec. 31, 2016
Notes
Note C - Transfer of Gold Bar Mill and Associated Liabilities	Note C – Transfer of Gold Bar Mill and associated Liabilities On December 30, 2016, we transferred the Gold Bar Mill and its associated liabilities - consisting of severance pay notes payable plus accrued interest owed to former officers and directors Terry Turner and Tracy Madsen - to a wholly-owned subsidiary, Quove Corporation, which we formed on October 31, 2016. Also on December 30, 2016, we subsequently transferred the shares of the subsidiary to a trust owned by Gulf Coast Capital, a minority shareholder of GEII and a company owned by our prior officer, Mark Bogani. When permitted by the rules and regulations of the Securities and Exchange Commission, the shares will be distributed to our shareholders who owned eleven or more shares of our common stock at the close of business on October 27, 2016. Quove Corporation has not had any operations since its inception. The Gold Bar Mill was transferred to Quove Corporation at its book value of $350,000. A note payable to Terry Turner in the principal amount of $350,000 along with $77,575 of accrued interest was transferred to Quove Corporation. This note carries an interest rate of 5%. On August 31, 2016, the Company and Mr. Turner agreed to satisfy principal and interest with proceeds from the sale of the Gold Bar Mill. In consideration of this concession, Mr. Turner was issued 1,000 shares of the Company's common stock in 2016. A note payable to Tracy Madsen in the principal amount of $266,667 along with $47,817 of accrued interest was transferred to Quove Corporation. This note carries an interest rate of 5%. On August 31, 2016, the Company and Mr. Madsen agreed to satisfy principal and interest with proceeds from the sale of the Gold Bar Mill. In consideration of this concession, Mr. Madsen was issued 1,000 shares of the Company's common stock in 2016.

Note C - Transfer of Gold Bar Mill and Associated Liabilities

12 Months Ended

Dec. 31, 2016

Note C - Transfer of Gold Bar Mill and Associated Liabilities

Note C – Transfer of Gold Bar Mill and associated Liabilities

On December 30, 2016, we transferred the Gold Bar Mill and its associated liabilities - consisting of severance pay notes payable plus accrued interest owed to former officers and directors Terry Turner and Tracy Madsen - to a wholly-owned subsidiary, Quove Corporation, which we formed on October 31, 2016. Also on December 30, 2016, we subsequently transferred the shares of the subsidiary to a trust owned by Gulf Coast Capital, a minority shareholder of GEII and a company owned by our prior officer, Mark Bogani. When permitted by the rules and regulations of the Securities and Exchange Commission, the shares will be distributed to our shareholders who owned eleven or more shares of our common stock at the close of business on October 27, 2016. Quove Corporation has not had any operations since its inception.

The Gold Bar Mill was transferred to Quove Corporation at its book value of $350,000.

A note payable to Terry Turner in the principal amount of $350,000 along with $77,575 of accrued interest was transferred to Quove Corporation. This note carries an interest rate of 5%. On August 31, 2016, the Company and Mr. Turner agreed to satisfy principal and interest with proceeds from the sale of the Gold Bar Mill. In consideration of this concession, Mr. Turner was issued 1,000 shares of the Company's common stock in 2016.

A note payable to Tracy Madsen in the principal amount of $266,667 along with $47,817 of accrued interest was transferred to Quove Corporation. This note carries an interest rate of 5%. On August 31, 2016, the Company and Mr. Madsen agreed to satisfy principal and interest with proceeds from the sale of the Gold Bar Mill. In consideration of this concession, Mr. Madsen was issued 1,000 shares of the Company's common stock in 2016.