The Beard Company (Beard) has four operating segments: oil and gas (Oil & Gas), coal reclamation (Coal), carbon dioxide (CO2) and e-Commerce. The Company's Oil & Gas segment, is engaged in the business of producing oil and gas. The Coal segment is engaged in the business of operating coal fines reclamation facilities in the United States. Its carbon dioxide activities comprise the CO2 segment, consisting of the production of CO2 gas, which is conducted through Beard. The Companyâs e-Commerce activities, which are conducted by starpay.com, l.l.c. (starpay) and its parent, Advanced Internet Technologies, L.L.C. (AIT), consists the e-Commerce segment. The Company also conducts minerals exploration and development through its investment in Geohedral LLC, a 25.68%-owned partnership, to explore for hard minerals in Alaska.
BEARD CO. (THE) 
