The Board of USCorp (OTCPK:USCS) announced the spin-off of Southwest Resource Development Inc. on February 19, 2013. Under the terms of the deal, shareholders of USCorp will receive one spinoff share in Southwest Resource Development Inc. for each 10 shares of USCorp owned as of the record date. As of February 19, 2013, the record date was currently being determined but is anticipated to occur within the next 45 days. As on April 9, 2013, USCorp determined that all holders of USCorp shares as of April 15, 2013 (record date) will be entitled to receive one common share of Southwest Resource Development Inc. for every 10 shares (or shares convertible into common shares) held in USCorp. However, on April 23, 2013 USCorp received notification from FINRA that the required forms notifying FINRA and the USCorp's shareholders of the spin-off and record date had not been filed. As on June 26, 2013, USCorp announced a new record date of July 1, 2013 for the deal.

Initially, the Board of Directors of USCorp and the Officers of both Southwest Resource Development, Inc. will continue to be the same as the Directors and Officers of USCorp. In a related deal, the Board of USCorp announced the spin-off of USMetals, Inc. on February 19, 2013. In June, 2013, Southwest Resource Development, Inc.'s name was changed to Imperial Metals, Inc.