SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-Q
Quarterly report pursuant to Section 13 of 15(d) of the Securities Exchange
Commission Act of 1934
For the quarterly period ended December 31, 1999
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)
Check whether the issuer (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, 2000. The most recent 10-Q was for the quarter ended September
30, 1999.
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, 1999:
3,078,049
<PAGE>
MINERAL MOUNTAIN MINING & MILLING COMPANY
Form 10Q
For the quarterly period ended December 31, 1999
Part I
Item 1.
Statement of Financial Position as of December 31, 1999 and March 31, 1999
Statement of Operations for the Three and Nine Month Periods Ended December 31,
1999 and 1998
Statement of Changes in Stockholders' Equity for the Three Month Periods Ended
December 31, 1999, and 1998
Statement of Cash flows for the Three and Nine Month Periods Ended December 31,
1999 and 1998
Notes to Financial Statements as of December 31, 1999
<PAGE>
MINERAL MOUNTAIN MINING & MILLING COMPANY
Statement of Financial Position as of December 31, 1999 and March 31, 1999
(UNAUDITED)
<TABLE>
Dec. 31, 1999 March 31, 1999
------------- --------------
<S> <C> <C>
ASSETS
------
CURRENT ASSETS
Cash in banks $ 15,617 $ 15,844
------------- --------------
Total current assets 15,617 15,844
MINING PROPERTY 53,808 53,808
------------- --------------
TOTAL ASSETS $ 69,425 $ 69,652
============= ==============
LIABILITIES AND STOCKHOLDERS' EQUITY
------------------------------------
CURRENT LIABILITIES
Accounts payable To Officers and Directors $ 3,050 $ 1,662
------------- --------------
TOTAL CURRENT LIABILTITES 3,050 1,662
SHAREHOLDERS' EQUITY
Common stock, $.10 par value;
15,000,000 shares authorized; issued and
outstanding, 3,078,049 shares 153,902 153,902
Additional paid-in capital 339,978 339,978
Accumulated deficit 427,505 (425,890)
------------- --------------
TOTAL SHAREHOLDER'S EQUITY 66,375 67,990
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 69,425 $ 69,652
============= ==============
</TABLE>
Prepared by management.
The accompanying notes are an integral part of these financial statements
<PAGE>
MINERAL MOUNTAIN MINING & MILLING COMPANY
Statement of Operations for the Three and Nine Month Periods
Ended December 31, 1999 and December 31, 1998
(UNAUDITED)
<TABLE>
Three Months Period Nine Months Period
Dec. 31, Dec. 31, Dec. 31, Dec. 31,
1999 1998 1999 1998
------- --------- -------- --------
<S> <C> <C> <C> <C>
REVENUES
Interest Income $ 222 $ 242 $ 657 $ 719
-------- --------- -------- --------
OPERATING EXPENSES
Accounting 235 705 119
Officers & Directors 150 600
Other professional services 276 500 276 1,500
Office expenses 98 800 193 703
Spokane Quotation fee 300 300
SEC Fees 46 162 46
Taxes 26 26 36 36
-------- --------- -------- --------
Total operating expenses 785 652 2,272 2,704
-------- --------- -------- --------
NET <LOSS> $ (563) $ (410) $ (1,615) $ (1,985)
======== ========== ======== ========
NET <LOSS> PER SHARE NIL NIL NIL NIL
======== ========== ======== ========
</TABLE>
Prepared by management.
The accompanying notes are an integral part of these financial statements.
<PAGE>
MINERAL MOUNTAIN MINING & MILLING COMPANY
Statement of changes in Stockholders' Equity for the Three Months
Ended December 31, 1998 and December 31, 1999
(UNAUDITED)
<TABLE>
Shares Amount Capital Deficit Total
--------- ---------- --------- ---------- ---------
<S> <C> <C> <C> <C> <C>
Balances as of
Sept. 30, 1998 3,078,049 $ 153,902 $ 339,978 $(423,642) $ 70,238
Net (loss) - - - (410) (410)
--------- ---------- --------- ---------- ---------
Balances as of
Dec. 31, 1998 3,078,049 $ 153,902 $ 339,978 $(424,052) $ 69,828
========= ========== ========= ========== ==========
Balances as of
Sept 30, 1999 3,078,049 $ 153,902 $ 339,978 $(426,942) $ 66,938
Net <loss> - - - (563) (563)
--------- ---------- --------- ---------- ---------
Balances as of
Dec. 31, 1999 3,078,049 $ 153,902 $ 339,978 $(427,505) $ 66,375
========= ========== ========= ========== ==========
</TABLE>
Prepared by management.
The accompanying notes are an integral part of these financial statements.
<PAGE>
MINERAL MOUNTAIN MINING & MILLING COMPANY
Statement of Cash Flows for the Three and Nine Month Periods
Ended December 31, 1998 and December 31, 1999
(Unaudited)
<TABLE>
Three Months Period Nine Months Period
Dec. 31, Dec. 31, Dec. 31, Dec. 31,
1999 1998 1999 1998
------- --------- -------- --------
<S> <C> <C> <C> <C>
CASH FLOWs FROM OPERATING
ACTIVITIES:
Net (Loss) $ (563) $ ( 410) $ (1,615) $ (1,985)
Increase (Decrease) in
accounts payable 296 70 1,338 (473)
Decrease in prepaids - 500 - 1,500
------- --------- -------- --------
Net cash used from
operating activities (267) 160 (227) (958)
------- --------- -------- --------
NET INCREASE (DECREASE) IN CASH (267) 160 (227) (958)
------- --------- -------- --------
CASH AT BEGINNING OF PERIOD 15,884 15,570 15,884 16,688
------- --------- -------- --------
CASH AT END OF PERIOD $15,617 $ 15,730 $ 15,617 $ 15,730
======== ========== ======== ========
</TABLE>
Prepared by management.
The accompanying notes are an integral part of these financial statements.
<PAGE>
MINERAL MOUNTAIN MINING & MILLING COMPANY
Notes to Financial Statements as of December 31, 1999
(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.
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.
<PAGE>
MINERAL MOUNTAIN MINING & MILLING COMPANY
PART II
ITEM 1 LEGAL PROCEEDINGS
NONE
ITEM 2 CHANGES IN SECURITIES
NONE
ITEM 3 DEFAULTS UPON SENIOR SECURITES
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
<PAGE>
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: January 3, 2001 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: January 3, 2001 By /S/ Donald L Hess
----------------- --------------------
Donald L. Hess
Secretary-Treasurer
