Canadian Imperial Bank or investment company of Commerce, a diversified lender, provides various financial services to specific small business, commercial, corporate, and institutional clients in Canada, the United States, and internationally. The business works through four proper business units: Canadian Personal and SMALL COMPANY Banking; Canadian Commercial Banking and Wealth Management; U.S. Commercial Banking and Wealth Management; and Capital Markets.

● Impairment of Unproved Coal and oil Properties: Impairment expenditure is acknowledged if a determination is made a well will not be in a position to be commercially productive. The quantities include amounts paid according of the drilling functions as well as geological and geophysical costs and different amounts which were paid to Israeli regulatory specialists. ● General and Administrative Expenses: Overhead, including benefits and payroll for our corporate staff, costs of managing our exploratory functions, audit and other professional fees, and legal compliance are included in administrative and general expenses. General and administrative expenses include non-cash stock-based compensation expense also, investor relations-related expenses, lease, and insurance and related expenses.

● Depreciation, Depletion, Amortization, and Accretion: The organized expensing of the capital costs incurred to explore for gas and essential oil represents a principal element of our cost framework. As a full-cost company, we capitalize all costs associated with our exploration and apportion these costs to each unit of creation, if any, through depreciation, amortization, and depletion expense.

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As we have yet to have creation, the costs of empty wells are written off immediately versus being included in this amortization pool. Management’s discussion and analysis of financial condition and results of operations are based upon our financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America. We have determined the accounting principles which we believe are most significant to the reported financial status by considering accounting policies that involve the most complex or subjective decisions or assessment.

We follow the full-cost method of accounting for coal and oil properties. Accordingly, all costs associated with acquisition, development, and exploration of oil and gas reserves, including straight-related overhead costs, are capitalized. All capitalized costs of coal and oil properties, including the approximated future costs to build up demonstrated reserves, are amortized on the unit-of-production method using estimations of proved reserves.

Investments in unproved properties and major development projects aren’t amortized until proved reserves from the projects can be decided or until impairment occurs. Our coal and oil properties signify an investment in unproved properties. These costs are excluded from the amortized cost pool until proved reserves are located or until it is determined that the expenses are impaired.