-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, K7q88Wm8Tmo+8yG0NnbpVgM3eTIw4OcQqAcMmDJ+Dtgl2V1JRXLh6WZrDhk/vHAN vOJUzRYYRgsBvyP5MlTUuA== 0001052918-99-000005.txt : 19990122 0001052918-99-000005.hdr.sgml : 19990122 ACCESSION NUMBER: 0001052918-99-000005 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19981231 FILED AS OF DATE: 19990121 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MINERAL MOUNTAIN MINING & MILLING CO CENTRAL INDEX KEY: 0000066600 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS METAL ORES [1090] IRS NUMBER: 820144710 STATE OF INCORPORATION: ID FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 001-03319 FILM NUMBER: 99509381 BUSINESS ADDRESS: STREET 1: 421 COEUR D ALENE AVE STREET 2: STE 3 CITY: COEUR D ALENE STATE: ID ZIP: 83814 BUSINESS PHONE: 2086643544 MAIL ADDRESS: STREET 1: 421 COEUR D ALENE AVE STREET 2: STE 3 CITY: COEUR D ALENE STATE: ID ZIP: 83814 10-Q 1 NOTE: FORMAT GUIDE FOR PRINTING READABLE HARD COPY PAGE LENGTH: 63 LINES PROBABLE MARGINS: 0.5" AT TOP AND BOTTOM, 0.5" AT RIGHT AND LEFT FONT: COURIER NEW, 10PT LINE ONE BEGINS AT "START" (This space left blank intentionally) 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 December 31, 1998 Commission file number 1-8187 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 (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)* * The last Form 10-K filed by the company was the Form 10-K for the fiscal year ended March 31, 1991. The most recent 10-Q was for the quarter ended September 30, 1998. APPLICABLE ONLY TO CORPORATE ISSUERS Indicate the number of shares outstanding of each of the issuer's classes of common stock as of December 31, 1998: 3,078,049 Document page 1 of 9 MINERAL MOUNTAIN MINING & MILLING COMPANY PART I ITEM 1 Statement of Financial Position as of December 31, 1998 and March 31, 1998 3 Statement of Operations for the Three and Nine Month Periods Ended December 31, 1998 and 1997 4 Statement of Changes in Stockholders' Equity for the Three Month Periods Ended December 31, 1998 and 1997 5 Statement of Cash Flows for the Three and Nine Month Periods Ended December 31, 1998 and 1997 6 Notes to Financial Statements as of December 31, 1998 7
Document page 2 of 9 MINERAL MOUNTAIN MINING & MILLING COMPANY Statement of Financial Position as of December 31, 1998 and March 31, 1998 (UNAUDITED) - --------------------------------------------------------------- ASSETS -------- Dec. 31, March 31, 1998 1998 ---------- ---------- CURRENT ASSETS Cash in banks $ 15,730 $ 16,688 Prepaids 500 2,000 ----------- ----------- Total current assets 16,230 18,688 ----------- ----------- MINING PROPERTY 53,808 53,808 ----------- ----------- TOTAL ASSETS $ 70,038 $ 72,496 =========== =========== LIABILITIES AND STOCKHOLDERS' EQUITY -------------------------------------- CURRENT LIABILITIES Accounts payable to Officers and Directors $ 210 $ 683 ----------- ----------- Total current liabilities 210 683 ----------- ----------- 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 <424,052> <422,067> ----------- ----------- Total stockholders' equity 69,828 71,813 ----------- ----------- TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 70,038 $ 72,496 =========== ===========
Prepared by management. The accompanying notes are an integral part of these financial statements. Document page 3 of 9 MINERAL MOUNTAIN MINING & MILLING COMPANY Statement of Operations For the Three and Nine Month Periods Ended December 31, 1998 and December 31, 1997 (UNAUDITED) - ---------------------------------------------------------------- Three Months Period Nine Months Period ------------------- ------------------ Dec. 31, Dec. 31, Dec. 31, Dec. 31, 1998 1997 1998 1997 -------- -------- -------- -------- REVENUES Interest Income $ 242 $ 307 $ 719 $ 962 -------- -------- -------- -------- OPERATING EXPENSES Accounting 119 898 Other profes- sional services 500 1,500 Office expenses 80 103 703 328 Spokane Quotation fee 300 300 SEC Fees 46 46 Taxes 26 26 36 36 -------- -------- -------- -------- Total operating expenses 652 129 2,704 1,562 -------- -------- -------- -------- NET INCOME $ <410> $ 178 $<1,985> $ <600> ======== ======== ======== ======== NET INCOME PER SHARE NIL NIL NIL NIL ======== ======== ======== ========
Prepared by management. The accompanying notes are an integral part of these financial statements. Document page 4 of 9 MINERAL MOUNTAIN MINING & MILLING COMPANY Statement of Changes in Stockholders' Equity For the Three Month Periods Ended December 31, 1998 and December 31, 1997 (UNAUDITED) - ----------------------------------------------------------------- Shares Amount Capital Deficit Total --------- -------- --------- ---------- ------- Balances as of 09-30-97 2,887,469 $144,373 $ 339,978 $<417,984> $66,397 Net Income 178 178 ---------- --------- ---------- ---------- -------- Balances as of 12-31-97 2,887,469 $144,373 $ 339,978 $<417,776> $66,575 ========== ========= ========== ========== ======== Balances as of 09-30-98 3,078,049 $153,902 $ 339,978 $<423,642> $70,238 Net Income <410> <410> ---------- --------- ---------- ---------- -------- Balances as of 12-31-98 3,078,049 $153,902 $ 339,978 $<424,052> $69,828 ========== ========= ========== ========== ========
Prepared by management. The accompanying notes are an integral part of these financial statements. Document page 5 of 9 MINERAL MOUNTAIN MINING & MILLING COMPANY Statement of Cash Flows For the Three and Nine Month Periods Ended December 31, 1998 and 1997 (UNAUDITED) - ----------------------------------------------------------------- Three Months Period Nine Months Period ------------------- ------------------ Dec. 31, Dec. 31, Dec. 31, Dec. 31, 1998 1997 1998 1997 -------- -------- -------- -------- CASH FLOW FROM OPERATING ACTIVITIES: Net Income $ <410> $ 178 $<1,985> $ <600> Increase in accounts payable 70 85 <473> <91> Decrease in prepaids 500 1,500 -------- -------- -------- -------- Net cash used from operating activities 160 263 <958> <691> -------- -------- -------- -------- NET INCREASE IN CASH 160 263 <958> <691> CASH AT BEGINNING OF PERIOD 15,570 16,942 16,688 17,896 -------- -------- -------- -------- CASH AT END OF PERIOD $15,730 $17,205 $15,730 $17,205 ======== ======== ======== ========
Prepared by management. The accompanying notes are an integral part of these financial statements. Document page 6 of 9 MINERAL MOUNTAIN MINING & MILLING COMPANY Notes to Financial Statements as of December 31, 1998 (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. 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. Document page 7 of 9 MINERAL MOUNTAIN MINING & MILLING COMPANY 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 interest consist 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's 1997 annual report to shareholders discusses possible exploration work to the east as follows: "In addition to proven probable reserves there is a realistic probability to significantly expand the reserves and assure continuous mining for many years. Studies have delineated several areas of favorable geologic conditions that may host significant deposits. Some of these favorable structures continue to the east. The 1995 acquisition of the ConSil property, on the eastern flank of the workings of the Sunshine Mine, permits evaluation of these veins and expands the company's resource base. The ConSil property contains a shaft (500 tons per day capacity) from the surface adit to a depth of 5,400 feet and connects to the Sunshine's eastern workings on the 3100 level. In 1998, the company will begin rehab work on the ConSil shaft and start exploration drilling to test the potential for extensions of the Chester and Yankee Girl veins in the eastern part of the Sunshine Mine, including the former ConSil property." In November 1998, Sunshine Mining Company reported that it had suspended construction of the $2 million ramp between the Sunshine Mine and the ConSil Mine due to low silver, copper, lead and antimony prices. Document page 8 of 9 MINERAL MOUNTAIN MINING & MILLING COMPANY 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: December 16, 1998 By /s/ Donald L. Hess ----------------------------- Donald L. Hess Secretary / Treasurer Pursuant to the requirements of the Securities and Exchange act of 1934, the report has been signed below by the following person on behalf of the registrant and in the capacity and on the date indicated. Dated: December 16, 1998 By /s/ Donald L. Hess ----------------------------- Donald L. Hess Secretary / Treasurer Document page 9 of 9 EX-27 2
5 Financial Data Schedule This schedule contains summary financial information extracted from the Statement of Financial Condition for Mineral Mountain Mining & Milling Company at December 31, 1998, the Statements of Income for the nine month period ended December 31, 1998, and is qualified in its entirety by reference to such financial statements. 3-MOS MAR-31-1999 DEC-31-1998 15,530 0 500 0 0 16,230 53,808 0 70,238 210 0 0 0 493,880 (424,052) 70,038 0 719 0 0 2,704 0 0 (1,985) 0 (1,985) 0 0 0 (1,985) 0 0
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