Gotesco Land, Inc. (GO) was originally registered with the Securities and Exchange Commission (SEC) on August 28, 1935 as Surigao Consolidated Mining Co., Inc. (SCM) and engaged in the exploration and mining of gold, silver, copper and iron ores in Surigao del Norte and Zamboanga del Sur. However, adverse and unfavorable economic conditions brought about by natural calamities and the continuous decline in market prices of precious metals burdened the company with high production costs, forcing SCM to suspend its mining operations. In 1992, the company changed its corporate name to Suricon Resources Corporation. In line with the entry of the Ever-Gotesco Group, SRC diversified into non-mining activities and amended its primary purpose to include property development with focus on leisure and resort development. In 1996, SRC changed its name to Gotesco Land, Inc. GO's business is to primarily engage in acquiring, developing, administering, selling, managing or otherwise dealing in real estate transactions in exchange for revenue and other considerations. At present, GO has two projects, namely, The Evercrest Cebu Golf Club and Resort, Inc. in Cebu City, and The Chateau Royale Sports & Country Club, Inc in Nasugbu, Batangas. GO also has three subsidiaries, namely, Multi-Resources Holding Co., Inc., Nasugbu Resort, Inc. and Gulod Resort, Inc. Source: SEC Form 17-A (2006)