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TINTIC GOLD MINING CO - 10-Q - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

August 12, 2014



Results of Operations

We currently have no assets and no operations. During the three and six months ended June 30, 2014, we realized no revenue and incurred $7,238 and $15,443, respectively, in operating expenses, resulting in losses from operations and net losses in those amounts. During the three and six months ended June 30, 2013, we realized no revenue and incurred $12,001 and $12,720, respectively, in operating expenses, resulting in net losses in that amount. The expenses incurred in the second quarter of 2013 exceeded those incurred in the second quarter of 2014 due to the Company's delay in filing its annual report on Form 10-K for 2012. As work on the annual report was not commenced until the second quarter of 2013, the related expenses were pushed into that quarter. In contrast, we filed our 2013 annual report on time and incurred related expenses in the first quarter of 2014. Expenses in the second quarter of 2014 related primarily to preparation of the quarterly report filed in that quarter.

Control of Tintic Gold Mining Company was transferred to Ding Lieping in December 2009. During his tenure, through December 31, 2013, Mr. Ding financed our operations by making loans to cover our expenses. In the first quarter of 2014, Mr. Ding decided to reclassify the payments he had made from loans to capital contributions. Therefore, the balance of loans payable at December 31, 2013, $83,969, was recorded as a contribution to capital. In addition, the $15,443 in expenses that Mr. Ding paid on behalf of the Company in the first six months of 2014 was also recorded as a contribution to capital. We expect that Ding Lieping will continue to fund our operations until we have completed an acquisition of an operating company, and that we will, therefore, have sufficient cash to maintain our existence as a shell company for the next twelve months, if necessary. Our management is not required to fund our operations, however, by any contract or other obligation.

Our major expenses consisted of fees to lawyers and accountants necessary to maintain our standing as a fully-reporting public company and other administration expenses attendant to the trading of our common stock. We do not expect the level of our operating expenses to change in the future until we again undertake to implement a business plan or effect an acquisition.

Liquidity and Capital Resources

At June 30, 2014 we had no working capital deficit, as we had no assets and no liabilities. This represented an improvement from December 31, 2013, when we had a working capital deficit of $83,969 as a result of the amounts then payable to Ding Lieping. We expect our working capital to be nil or a small deficit for the indefinite future, as long as Ding Lieping continues to contribute the sums necessary to pay our expenses.

Our operations consumed $15,443 in cash during the six months ended June 30, 2014. Our operations consumed $10,889 in cash during the six months ended June 30, 2013, as we accrued the remainder of our expenses in that period. In the future, unless we achieve the financial and/or operational wherewithal to sustain our operations, it is likely that we will continue to rely on loans and capital contributions to sustain our operations.

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To date we have supplied our cash needs by obtaining loans and capital contributions from management and shareholders. We expect that our President will fund our operations until we have completed an acquisition of an operating company and that we will, therefore, have sufficient cash to maintain our existence as a shell company for the next twelve months, if necessary.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition or results of operations.


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Source: Edgar Glimpses


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