SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
QUARTERLY REPORT
PURSUANT TO SECTION 13 OR 15 (D)
of the
SECURITIES AND EXCHANGE ACT OF 1934
For the quarter ended March 31, 1998
PLANET RESOURCES, INC.
(Formerly Allied Silver-Lead Company)
(Exact name of registrant as specified in its charter)
DELAWARE
(Formerly Idaho)
(State or other jurisdiction of incorporation or organization)
1-7149 82-0277987
(Commission File Number) (IRS Employer Identification Number)
C/O A.W. DUGAN
1415 LOUISIANA, SUITE 3100
HOUSTON, TEXAS 77002
(Address of principal executive offices)
(713) 658-1142
(Registrant's telephone number, including area code)
Indicate by check mark whether the Registrant (1) has filed all documents
and reports required to be filed by Section 13 or 15(d) of the Securities and
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.
X Yes No
-
Indicate the number of shares outstanding of each of the issuer's classes
of common stock, as of the latest practicable date.
Class Outstanding at March 31, 1998
----- -----------------------------
Common Stock, $.001 par value 1,605,818
FORM 10-Q
PLANET RESOURCES, INC.
(Formerly Allied Silver-Lead Company)
INDEX AND REPORT
PART 1. FINANCIAL INFORMATION
Planet Resources, Inc. is a mining company in the development stage and
is not required to file Part I of Form 10-Q (Financial Information) under the
terms of Rule 13(a) -13(b).
PART II. OTHER INFORMATION AND SIGNATURES
CHANGES IN SECURITIES AND USE OF PROCEEDS. On February 17, 1998, the
Company agreed to sell 370,000 of its unregistered common stock for a cash
consideration of $55,500 to a company related to the Company's president. It
is anticipated by management that these funds will be used to investigate the
feasibility of acquiring additional acreage to the south of its present
holdings in the Mullan Idaho area.
The Company has reviewed the reporting requirements of Part II of Form
10-Q. No corporate or other activities have occurred which require a report.
No exhibits are attached.
Pursuant to the requirements 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.
PLANET RESOURCES, INC.
(formerly Allied Silver-Lead Company)
By: /s/A.W. Dugan
------------------
A.W. Dugan, Chief Executive Officer
and Chairman of the Board
Date: April 2, 1998
