U.S.SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB/A
AMENDMENT NO. 1
Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934 for the quarterly period ended September 30, 1998.
Commission File Number 0-13963
MIMBRES VALLEY FARMERS ASSOCIATION, INC.
(Exact name of registrant as specified in its charter)
NEW MEXICO 85-0054230
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
811 South Platinum, Deming, New Mexico 88030
(505) 546-2769
<PAGE> This amendment to the Form 10-QSB of Mimbres Valley Farmers
Association, Inc. ("Farmers" or the "Company") for the quarter ended
September 30, 1998 has been filed to supplement Item 2 "Management's Discussion
and Analysis of Financial Condition and Results of Operation."
1. THE INFORMATION CONTAINED IN THIS SUPPLEMENT
TO ITEM 2 TO FORM 10-QSB/A AMENDS AND SUPPLEMENTS
THE INFORMATION CONTAINED IN ITEM 2 TO THE COMPANY'S
FORM 10-QSB DATED NOVEMBER 14, 1998.
Year 2000 Readiness Disclosure
The Company has conducted a review of its computers systems to identify
the systems that could be affected by the year 2000 problem. The year 2000
problem is the effect of computer programs using two digits (rather than four)
to define the applicable year. Any of the Company's programs that utilizes
date sensitive software could recognize the year "00"as 1900 rather than the
year 2000. This could result in a major computer system failure or
malfunction.
The Company presently believes that, with modifications to existing
software and conversion to new software and replacement of some equipment, the
Year 2000 problem will not pose a significant operational problem for the
Company's information systems as so modified and converted.
The Company has replaced its office and accounting systems with new PCs
and with new software that are warranted to be Year 2000 compliant. During
the second and third quarter, the Company will work with NCR to ensure the
Company's cash registers are Year 2000 compliant. The process of upgrading
the Company's cash registers to make them Year 2000 compliant should be
completed during the third quarter. The cost of the Company's Year 2000
efforts is approximately $19,000 through the first quarter of 1999. The
Company estimates that the total cost of its Year 2000 remediation efforts
will be $20,000.
The Company's main supplier, Fleming Foods, has represented to the
Company that it is Year 2000 compliant with respect to its dealings with the
Company. The Company is continually working with Fleming Foods to ensure they
remain Year 2000 compliant. If Fleming Foods is not Year 2000 compliant and
is unable supply the Company due to Year 2000 problems, the Company believes
it can obtain its grocery supplies from numerous other suppliers without
suffering a material impact on the Company's profit margins. Assuming a worst
case scenario, if these other suppliers cannot supply the Company and the
Company is unable to replace its inventory for any significant period due to
Year 2000 problems, the Company will likely suffer material adverse effects.
Unfortunately, the Company cannot stockpile inventory since much of the
inventory is perishable. Furthermore, it would be cost prohibitive for the
Company to build or purchase storage facilities for the stockpiling of this
inventory.
<PAGE>SIGNATURES
In accordance with the requirements of the Securities Exchange Act of
1934, the registrant has caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Dated: March 15, 1999.
MIMBRES VALLEY FARMERS ASSOCIATION, INC.
By /s/ Wallace Burke
Wallace Burke
Acting General Manager
(Authorized Representative)
