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cents per ton or $5,000,000. As a result of losing the Kaiser lease, DCC and Peerless believe that some 8 million tons of coal were reliquished. The major asset of PRI is its state coal mining permit, which Debtor estimates is worth 548,000. Under the 5 permit, Peerless and DCC can mine the leased property. ~jDCC 'plans to mine 110,000 tons of coal during the mines first year of production; 250,000 tons to be mined in the second year; 350,000 tons to be mined during the third year; 450,000 tons to be mined during year four; and 500,000 tons to be mined during year fi~'ve. These figures were originally projections for the first five years of mine operations. Due to the earlier work performed on the mine site, DCC is in a position to mine the coal so long as PRI's state permit is in effect. DCC has been negotiating with Denver Coal Company and believes that it will have a contract to sell up to 100,A00ff=tons a year with this company shortly. The minimum sale pY~ice is 522 per ton. DCC stands to earn 57 per ton after mining and shipping costs are subtracted. As indicated, Peerless owes DCC an unsecured debt of $445,000. DCC would waive said amount and contribute 51.50 per ton of coal mined and sold on a monthly basis to a fund to be established to pay off creditors as to the principal amounts of their debts only. In return, DCC would require PRI to relinquish all rights, claims and title etc. under the Joint Venture Agreement. Following payment of all creditors, DCC would receive PRI's permit. During reor- ganization, PRI would keep no employees and would make no profits or sustain losses. Following DCC's payment of creditors, PRI would be absolved of financial liability. EFFECTUATION OF THE PLAN OF REORGANIZATION The Plan is based upon Debtor's belief that present forced liquidation of its liquid assets would leave all creditors in jeopardy of recovering their claims against Debtor. Debtor believes that should liquidation of its assets occur at this time, most all of its creditors would not be paid much of anything. However, if creditors would confirm the Plan of Reorganization proposed, the creditors would be paid as highlighted under the Plan which Debtor believes is substantially more that would be available under a forced liquidation. The Debtors reserve the right to object to the allowance of one or more unsecured claims if the claims differ from those listed on the Schedules of the Debtor as filed in this proceeding. Claims listed on the Schedules of the Debtor in this proceeding are not disputed as to the amount unless set forth therein. According to applicable provisions of Title 121, United States Code, claims of