Mustang owns 100% interest in three geothermal leases totaling 6,582 acres (26.3sq km) on property owned by the federal government in Nevada. The company is also involved in uranium mining activities.
The Financial Industry Regulatory Authority also approved a 1-200 reverse common stock split that leaves all shareholders with ownership of at least 200 shares.
A reverse split reduces the number of outstanding shares but does not change the immediate market value.
