Balance sheet
Original Sixteen at Mine, Inc. is a separate business. It is the only operating company of its type to remain in United States. Management knows that the assets of the Company are underestimated due to the age of the acquisition. Exploration and development costs are not capitalized. The Society celebrated its 100th anniversary on October 9, 2011. It is the oldest gold mining company in United States. The gold stock is recorded at the spot price despite proven added value.
No value is entered in the balance sheet for timber. The company owns 470 acres of prime woodland. No value is entered in the balance sheet for the water rights held by the Company. Depreciation is entered in the balance sheet for buildings, equipment and land. No value is entered in the balance sheet for marketable aggregates and decorative stones currently in stock. No value is entered in the balance sheet for goodwill. Fixed assets are recorded at historical cost less depreciation.
(A) Comparisons of 2020 with 2019.
Balance sheet comparisons
Assets:
For the period of one year ended December 31, 2020, compared to the one-year period ended December 31, 2019, cash flow increased by
$ 17,389 (392%) due to cash flow variations. Accounts receivable increased by $ 250 (.5%).
For the period of one year ended December 31, 2020, compared to the one-year period ended December 31, 2019 stocks increased by
$ 3,734 (1.2%) due to changes in mining targets in 2020 and sales of inventory to finance operations.
Liabilities:
For the period of one year ended December 31, 2020, compared to the one-year period ended December 31, 2019, accounts payable decreased by $ 18,821 because the company relied on loans to finance the operation.
For the period of one year ended December 31, 2020, compared to the one-year period ended December 31, 2019, notes receivable from related parties increased by $ 89,200 (200%) due to a combination of additional loans and interest charges.
For the period of one year ended December 31, 2020, compared to the one-year period ended December 31, 2019, long-term notes fell by $ 50,864 (25%) due to scheduled payments.
Status of the results
Returned:
For the period of one year ended December 31, 2020, compared to the one-year period ended December 31, 2019, the turnover decreased by
$ 138,061 (60%) mainly due to reduced mining and increased maintenance.
Operating Expenses :
For the period of one year ended December 31, 2020, compared to the one-year period ended December 31, 2019, operating expenses have decreased overall by $ 176,629 (40%) due to the reduction in operations in 2020.
Other income and expenses:
For the period of one year ended December 31, 2020, compared to the one-year period ended December 31, 2019, other income increased by $ 2,000 (71%) due to an increase in rents collected on a company house.
For the period of one year ended December 31, 2020, compared to the one-year period ended December 31, 2019, other expenses decreased by $ 16,784 (100%) mainly due to an inventory account reconciliation that was required due to a variance accumulated through rounding years. (nominal value $ 0.033)
The company recorded a loss of $ 173,578 in 2020 compared to a loss of $ 230,933 in 2019. The $ 57,355 The difference (25%) is mainly due to lower operating costs and reduced operations in 2020 compared to 2019. Basic and diluted loss per share was (.012) in 2020 compared to ( .016) in 2019. The number of shares used for the 2020 calculation was 14,390,631 and the number of shares for the 2019 calculation was 14,342,097.
(A) Comparisons of 2019 with 2018.
Balance sheet comparisons
Assets:
For the period of one year ended December 31, 2019, compared to the one-year period ended December 31, 2018, cash flow increased by
$ 1,137 (34%) due to cash flow variations. Accounts receivable decreased by $ 10,651 (16%).
For the period of one year ended December 31, 2019, compared to the one-year period ended December 31, 2018, stocks decreased by
$ 123,638 (29%) due to changes in mining targets in 2019 and sales of inventory to finance operations.
For the period of one year ended December 31, 2019, compared to the one-year period ended December 31, 2018, equipment increased by
$ 3,450 due to the purchase of a pump.
Liabilities:
For the period of one year ended December 31, 2019, compared to the one-year period ended December 31, 2018, accounts payable increased by $ 68,159 because the company relied on credit to finance the operation.
For the period of one year ended December 31, 2019, compared to the one-year period ended December 31, 2018, notes receivable from related parties increased by $ 18,439 (7%) due to a combination of additional loans and interest charges.
For the period of one year ended December 31, 2019, compared to the one-year period ended December 31, 2018, long-term notes fell by $ 9,231 (8%) due to payment deadlines without new borrowing.
Statement of Operations
Income:
For the period of one year ended December 31, 2019, compared to the one-year period ended December 31, 2018, the turnover increased by
$ 23,716 (11%) mainly due to the increase in gold sales in 2019.
Operating Expenses :
For the period of one year ended December 31, 2019, compared to the one-year period ended December 31, 2018, operating expenses have decreased overall by $ 90,608 (17%) due to the reduction in operations in 2019.
Other income and expenses:
For the period of one year ended December 31, 2019, compared to the one-year period ended December 31, 2018, other income decreased by $ 1,795 (39%) due to the drop in rents received on a company house.
For the period of one year ended December 31, 2019, compared to the one-year period ended December 31, 2018, other expenses decreased by $ 16,274 (50%) primarily due to an inventory account reconciliation that was required due to a variance accumulated through rounding years. (nominal value $ 0.033)
The company recorded a loss of $ 230,933 in 2019 compared to a loss of $ 359,736 in 2018. The $ 128,803 The difference (36%) is mainly due to lower operating costs in 2019 due to lower operations compared to 2018. Basic and diluted loss per share was (0.016) in 2019 compared to ( 0.025) in 2018. The number of shares used for the 2019 calculation was 14,390,631 and the number of shares for the 2018 calculation was 14,342,097.
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