Polarx is an exploration stage company engaged in the identification, acquisition, exploration and, if warranted, development of mineral resource projects in the United States. Co. has not placed any of its mineral properties into production and has not yet determined whether its properties contain ore reserves that are economically recoverable. The recoverability of the amounts spent for mineral properties is dependent upon the existence of economically recoverable reserves, the ability of Co. to obtain the necessary financing to complete the exploration and development of its properties, and upon future profitable production or proceeds from the disposition of the properties.