It appears to me to be a shell company set up for trading stock. As you say Molson, if the property was purchased by ARCO from Lloyd Brewer for $1000, there seems to be very little asset to establish a company upon. To further, in this paragraph below, there may be fantastic forward looking statements intentionally to entice investors into buying stock. What I see in the excerpt below, is that the company is promoting 3 veins, but if these 3 veins were promising upon initial inspection, would it seem reasonable for Mr Brewer to part with this property for a measly $1000?

To see an affiliation by the above company,s owner, to Danny Aaron, our once PR/IR guy, and a similar theme of many shell companies set up that seem to go nowhere, may suggest the main interest for setting up so many shell company,s, is for the sole purpose of making an income from trading stock, rather than creating investor value?

To further yet, it appears that the PR company that may be set up for investor relations and promotional efforts is affiliated with Deutche Bank, which has admitted to recent tax evasion employment. Although the connection process is more complicated than this, at first glance, it suggests this to me.

http://www.huffingtonpost.com/2010/12/21/deutsche-bank-fraud-probe_n_799813.html

We were incorporated under the laws of the State of Nevada on September 17,
2012. We are an exploration-stage company engaged in exploration of the Golden
Idol Mine located in the Yavapai County in the State of Arizona for gold. We
have identified three gold bearing quartz veins on the Golden Idol

 Mine. We
intend to explore those three veins to test the mineralization within the
property. Provided that we successfully identify commercially viable mineral
deposits, we intend to engage in a joint venture or partnership with a larger,
more established mining operator to commence mining, processing and distributing
the mineral deposits.
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The address of our principal executive office is at Suite 22, Postnet P.O. Box
1006 Plettenberg Bay, 6600 South Africa, and our telephone number is
+27764965865, and our website is www.arco-iris.co.za.

Read more: http://www.nasdaq.com/markets/ipos/company/arcoiris-gold-corp-914463-73378#ixzz3Jvr3097O