10-Q 1 0001.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OF 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2000 Commission file number 001-08187 MINERAL MOUNTAIN MINING & MILLING COMPANY (Exact name of registrant as specified in its charter) IDAHO 82-0144710 (State or other jurisdiction of (IRS Employer incorporation or organization) Identification Number) 421 Coeur d'Alene Ave. - Ste 3 Coeur d'Alene, Idaho (Address of principal executive offices) 83814-2862 (Zip Code) (208) 664-3544 (Registrant's Telephone Number, Including Area Code) Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No X APPLICABLE ONLY TO CORPORATE ISSUERS Indicate the number of shares outstanding of each of the issuer's classes of common stock as of September 30, 2000: 3,078,049 MINERAL MOUNTAIN MINING & MILLING COMPANY Form 10-Q For the quarterly period ended September 30, 2000 PART I ITEM 1 Statement of Financial Position as of September 30, 2000 and March 31, 2000 Statement of Operations for the Six Month Periods Ended September 30, 2000 and 1999 Statement of Changes in Stockholders' Equity for the Six Month Periods Ended September 30, 2000 and 1999 Statement of Cash Flows for the Six Month Periods Ended September 30, 2000 and 1999 Notes to Financial Statements as of September 30, 2000 MINERAL MOUNTAIN MINING & MILLING COMPANY Statement of Financial Position as of September 30, 2000 and March 31, 2000 (UNAUDITED) ASSETS ------ Sept. 30, March 31, 2000 2000 ------------ ------------- CURRENT ASSETS Cash in banks $ 14,088 $ 13,864 Prepaids 300 300 ------------ ------------- Total current assets 14,388 14,164 MINING PROPERTY 53,808 53,808 ------------ ------------- TOTAL ASSETS $ 68,196 $ 67,672 ============ ============= LIABILITIES AND STOCKHOLDERS' EQUITY ------------------------------------ CURRENT LIABILITIES Accounts payable to Officers and Directors $ 1,560 $ 1,560 ------------ ------------- Total current liabilities 1,560 1,560 ------------ ------------- STOCKHOLDERS' EQUITY Common stock; $0.10 par value; 15,000,000 shares authorized; 3,078,049 shares issued and outstanding 153,902 153,902 Additional paid-in capital 339,978 339,978 Accumulated deficit (427,244) (427,468) ------------ ------------- Total stockholders' equity 66,636 66,412 ------------ ------------- TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 68,196 $ 67,972 ============ ============= Prepared by management. The accompanying notes are an integral part of these financial statements. MINERAL MOUNTAIN MINING & MILLING COMPANY Statement of Operations For the Six Month Periods Ended September 30, 2000 and September 30, 1999 (UNAUDITED) Three Months Period Six Months Period ----------------------- ---------------------- Sept. 30, Sept. 30, Sept. 30, Sept. 30, 2000 1999 2000 1999 --------- --------- --------- --------- REVENUES Interest Income $ 196 $ 200 $ 393 $ 435 --------- --------- --------- --------- OPERATING EXPENSES Accounting - 235 - 470 Other professional services 151 450 151 450 Office expenses 9 95 18 257 Spokane Quotation fee - - - 300 Taxes - - - 10 --------- --------- --------- --------- Total operating expenses 160 780 169 1,487 --------- --------- --------- --------- NET GAIN (LOSS) $ 36 $ (580) $ 224 $ (1,052) ========= ========= ========= ========= NET (LOSS) PER SHARE $ NIL $ NIL $ NIL $ NIL ========= ========= ========= ========= Prepared by management. The accompanying notes are an integral part of these financial statements. MINERAL MOUNTAIN MINING & MILLING COMPANY Statement of Changes in Stockholders' Equity For the Three Month Periods Ended September 30, 2000 and September 30, 1999 (UNAUDITED) Shares Amount Capital Deficit Total --------- ---------- --------- ---------- --------- Balances as of June 30, 2000 3,078,049 $ 153,902 $ 339,978 $ (427,280) $ 66,600 Net Gain 36 36 --------- ---------- --------- ---------- --------- Balances as of September 30, 2000 3,078,049 $ 153,902 $ 339,978 $ (427,244) $ 66,636 ========= ========== ========= ========== ========= Shares Amount Capital Deficit Total --------- ---------- --------- ---------- --------- Balances as of June 30, 1999 3,078,049 $ 153,902 $ 339,978 $ (426,362) $ 67,518 Net (Loss) (580) (580) --------- ---------- --------- ---------- --------- Balances as of September 30, 1999 3,078,049 $ 153,902 $ 339,978 $ (426,942) $ 66,938 ========= ========== ========= ========== ========= Prepared by management. The accompanying notes are an integral part of these financial statements. MINERAL MOUNTAIN MINING & MILLING COMPANY Statement of Cash Flows For the Three and Six Month Periods Ended September 30, 2000 and 1999 (UNAUDITED) Three Months Period Six Months Period ----------------------- ---------------------- Sept. 30, Sept. 30, Sept. 30, Sept. 30, 2000 1999 2000 1999 --------- --------- --------- --------- CASH FLOWS FROM OPERATING ACTIVITIES Net income (Loss) $ 36 $ (580) $ 224 $ (1,052) Increase (decrease) in accounts payable - 691 - 1,092 Decrease in prepaids - - - - --------- --------- --------- --------- Net cash provided by operating activities 36 111 224 40 --------- --------- --------- --------- NET INCREASE IN CASH 36 111 224 40 CASH AT BEGINNING OF PERIOD 14,052 15,773 13,864 15,844 --------- --------- --------- --------- CASH AT END OF PERIOD $ 14,088 $ 15,884 $ 14,088 $ 15,884 ========= ========= ========= ========= Prepared by management. The accompanying notes are an integral part of these financial statements. MINERAL MOUNTAIN MINING & MILLING COMPANY Notes to Financial Statements as of September 30, 2000 (UNAUDITED) The financial statements of Mineral Mountain Mining & Milling Company included herein, have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Although certain information normally included in financial statements prepared in accordance with generally accepted accounting principles has been condensed or omitted, Mineral Mountain believes that the disclosures are adequate to make the information presented not misleading. These financial statements should be read in conjunction with the financial statements and notes thereto included in Mineral Mountain's annual report on Form 10-k for the fiscal year ended March 31, 2000. The financial statements included herein reflect all normal recurring adjustments that, in the opinion of management, are necessary for a fair presentation. The results for interim periods are not necessarily indicative of trends or of results to be expected for a full year. MINERAL MOUNTAIN MINING & MILLING COMPANY Form 10-Q For the quarterly period ended September 30, 2000 ITEM 2 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION The Company presently has no revenues other than interest income. The Company's mineral property consists of an ownership interest in a consolidated area consisting of portions of 13 patented mining claims situated in Shoshone County, Idaho. This area lies between two mining holdings owned by Sunshine Mining Company, the Consolidated Silver property to the east and the Sunshine Mine operations to the west. Sunshine Mining Company closed the Sunshine mine in February 2001 PART II ITEM 1 LEGAL PROCEEDINGS NONE ITEM 2 CHANGES IN SECURITIES NONE ITEM 3 DEFAULTS UPON SENIOR SECURITIES NONE ITEM 4 SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS NONE ITEM 5 OTHER INFORMATION NONE ITEM 6 EXHIBITS AND REPORTS ON FORM 8-K NONE SIGNATURES Pursuant to the requirements of Section 13 of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Mineral Mountain Mining & Milling Company (Registrant) Dated: February 23, 2001 By /S/ DONALD L HESS ------------------------------------ Donald L. Hess Secretary - Treasurer