1. State of the company’s investments and assets

1.1 Legal Status

     – concession agreement between the County Council and our company, concluded for a period of 30 years (with the possibility of extension for a period of 15 years by the mere agreement of the parties), in force from 01.01.2008 (until 01.01.2038).

     – sale contract between a company (seller) and our company (buyer) for: 10 fully equipped cottages, built of wood with reed roofs, each equipped with interior bathroom, 1 dining room with kitchen, bathroom and annex – central heating (buildings are located on the land area of ​​9.402 square meters of belonging to the C.A. Rosetti administration

     – sale contract between a company (seller) and our company (buyer) for four brick buildings :
*the following buildings located in C.A. Rosetti and the Periprava Popina colony:
1) C96, which occupies an area of ​​400 sqm,
2) C97, which occupies an area of ​374 sqm,
3) C98, which occupies an area of ​​222 square meters and
4) C99, which occupies an area of ​​252 sq.m.

     – sale contract between a company (seller) and our company (buyer) for:
these assets related to the EC16 and EC17 basins which include: pumping station 9, feed shed 9, station platform 9, concrete pier 9, electrical installation 9, int dam section – 16, channel drainer EC16, EC16 trap nursery, loft works 16, side drainer EC17, 7a/EC17 pumping station, sewage EC16, electrical installation ST9 , EC17 art works, earthworks trail 17-19 , 16-19 embankment dam, fishing hole EC17, art works 16, retrained EC16 food channel, 3100 ml separating dam – EC16 -19, EC15-16 – 5000 ml separating dam, dividing dam – 1000 ml EC17 -19, EC16 pier – 2000 ml ST9 electrical installation, platform 7, electrical networks, Suction pipe EC17.

     – owned boats: 4 fishing boats 16CV, 1 lug boat of 4.5m made of fiberglass, the jet motor boat “Paradise”, the cabin boat “Sparrow”, boat engines, mobile dock, floating pontoon.

     – concession agreement between the Local Council of CA Rosetti and our company, for a 49 years period (with the possibility of extension for a period equal to more than half of the original length), from 25.05.2004 – land of 9402 mp belonging to the C.A. Rosetti administration, Tulcea county, intended for building 20 holiday cottages, a kitchen with dining room and an administrative building.

1.2 The company’s investments

The company’s investments are grouped in the following activity fields:
          – Fish farm – 736 hectares = 1,819 acres – (not yet exploited, in preservation);
          – Reed exploitation – 600 hectares (within the 736 hectares)
          – Means of transportation by water – 40% operational.
          – Touring complex:
                    – 10 wooden cabins (250 sq. m) with reed roofs, each with its own bathroom, dining room, kitchen – 95% operational;
                    – 4 brickwork building complex (1,200 sq. m) – 30% operational;
          NOTE 1: All investments are decommissioned for the moment and need an improvement budget to be put into service.

1.3 General presentation

The company’s investments and assets are located in Grind-Popina area, on the administrative territory of C.A. ROSETTI locality, Tulcea county, near Periprava, Letea and Cardon villages.

     Our company signed a concession contract over a 45 year period (up until 2053) for 736 hectares of land (EC16 and EC17 tanks – according to the sketch and satellite photos).

     Our company owns the assets belonging to the fish farm, the most important being the 15 km dams, where you can place the lake houses presented in the next chapter and where you can develop several aquaculture activities. These assets were built in the 80’s, and the construction cost is nowadays evaluated at 20,000,000

     We mention the fact that for fish farming in the two tanks and for tourists transportation we own 4 (four) fishing boats and a 20 place capacity boat. This boat was built after the plans of Jacques-Yves Cousteau, the famous French scientist, in partnership with the Romanian Television to film a documentary about the Danube Delta, documentary viewed all around the globe. The boat was taken in an advanced state of decay, was rebuilt and the preserved, but unfortunately was vandalized in the recent years, requiring a reconditioning project.

The complex has a constructed surface of 1,200 square meters, is composed of 4 buildings (2 x 400square m + 2 x 200 square m) and is situated on a 3.5 hectares area, near the fish farm.
     The building complex was initially designed for the fish farming specialists and is decommissioned for the moment.

 On a 9,402 square meter surface, inside C.A. Rosetti locality, Tulcea county, Grind area, near the fish farm and the building complex, our company owns 10 wooden holiday cabins, completely equipped, with reed roofs, each with its own bathroom. The cabin complex includes a brickwork building as a dinning room, equipped with a kitchen, bathroom and central heating.

     The complex is for the tourists who come in the area for hunting and fishing in our tanks, but also for boat trips on different routes in the Danube Delta, the main attraction point being the Letea forest, just 3 km away. Letea is an oak forest, but it includes many more types of trees. Moreover, Letea is the only place in Europe where you can find vines. The vines are hanging like in the exotic landscapes and some are wrapped around trees like a floral arrangement. You can also find big dunes of sand, good for sunbathing.