UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
[X] | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended March 31, 2012
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ___ to ___
Commission file number: 000-31549
BINGHAM CANYON CORPORATION
(Exact name of registrant as specified in its charter)
Nevada (State or other jurisdiction of incorporation or organization) |
90-0578516 (I.R.S. Employer Identification No.) |
#281, 369 East 900 South, Salt Lake City, Utah (Address of principal executive offices) |
84111 (Zip Code) |
(801) 323-2395
(Registrant’s telephone number, including area code)
Indicate by check mark whether the registrant (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 [X] No [ ]
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).
Yes [X] No [ ]
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer [ ] Non-accelerated filer [ ] |
Accelerated filer [ ] Smaller reporting company [X] |
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes [X] No [ ]
The number of shares outstanding of the registrant’s common stock as of May 8, 2012 was 19,150,000.
TABLE OF CONTENTS
PART I – FINANCIAL INFORMATION
Item 1 | Financial Statements | 2 |
Condensed Balance Sheets | 3 | |
Condensed Statements of Operations | 4 | |
Condensed Statements of Cash Flows | 5 | |
Notes to the Unaudited Condensed Financial Statements | 6 | |
Item 2 | Management's Discussion and Analysis of Financial Condition and Results of Operations | 7 |
Item 3 | Quantitative and Qualitative Disclosures about Market Risk | 8 |
Item4 | Controls and Procedures | 9 |
PART II – OTHER INFORMATION
Item 6 | Exhibits | 9 |
Signatures | 10 |
PART I – FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
BINGHAM CANYON CORPORATION
(A Development Stage Company)
Financial Statements
March 31, 2012
2 |
BINGHAM CANYON CORPORATION
(a Development Stage Company)
Balance Sheets
MAR 31, 2012 | DEC 31, 2011 | |
(Unaudited) | ||
ASSETS | ||
CURRENT ASSETS | ||
Cash | $ 1,850 | $ 365 |
Prepaid expense | 4,000 | - |
Total current assets | 5,850 | 365 |
TOTAL ASSETS | $ 5,850 | $ 365 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||
CURRENT LIABILITIES | ||
Accounts payable | $ 27,998 | $ 23,170 |
Loans | 86,450 | 76,450 |
Accrued interest | 7,741 | 6,019 |
Total current liabilities | 122,189 | 105,639 |
Total liabilities | 122,189 | 105,639 |
STOCKHOLDERS' EQUITY | ||
Common stock,
$.001 par value; 100,000,000 shares authorized; 19,150,000 shares issued and outstanding |
19,150 | 19,150 |
Additional paid-in capital | 30,850 | 30,850 |
Deficit accumulated during the development stage | (166,339) | (155,274) |
Total stockholders' equity | (116,339) | (105,274) |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 5,850 | $ 365 |
The accompanying notes are an integral part of these financial statements.
3 |
BINGHAM CANYON CORPORATION
(a Development Stage Company)
Statements of Operations
(Unaudited)
FOR THE THREE MONTHS ENDED MAR 31, 2012 | FOR THE THREE MONTHS ENDED MAR 31, 2011 | FROM INCEPTION ON FEB 27, 1986 TO MAR 31, 2012 | |
Revenues | $ 0 | $ 0 | $ 0 |
Expenses | |||
General and administrative | 9,343 | 2,918 | 158,598 |
Total expenses | 9,343 | 2,918 | 158,598 |
Net loss before other expense | (9,343) | (2,918) | (158,598) |
Other income (expense) | |||
Interest expense | (1,722) | (1,535) | (7,741) |
Total other income (expense) | (1,722) | (1,535) | (7,741) |
Loss from operations before income taxes | (11,065) | (4,453) | (166,339) |
Income taxes | 0 | 0 | 0 |
Net loss | $ (11,065) | $ (4,453) | $ (166,339) |
Basic and diluted net loss per share | $ (0.00) | $ (0.00) | |
Weighted average shares outstanding | 19,150,000 | 19,150,000 | |
The accompanying notes are an integral part of these financial statements.
4 |
BINGHAM CANYON CORPORATION
(a Development Stage Company)
Statements of Cash Flows
(Unaudited)
FOR
THE THREE MONTHS ENDED MAR 31, 2012 |
FOR
THE THREE MONTHS ENDED MAR 31, 2011 |
FROM
INCEPTION ON FEB 27, 1986 TO MAR 31, 2012 | |
Cash Flows from Operating Activities | |||
Net loss | $ (11,065) | $ (4,453) | $ (166,339) |
Adjustments to
reconcile net loss to cash provided (used) by operating activities: |
|||
Depreciation and amortization | 0 | 0 | 17,000 |
Common stock issued for services rendered | 0 | 0 | 33,000 |
Changes in assets and liabilities: | |||
Increase in prepaid expenses | (4,000) | 0 | (4,000) |
Increase in accounts payable and accrued expenses | 4,828 | 0 | 64,848 |
Accrued interest | 1,722 | 1,535 | 7,741 |
Net cash provided (used) by operating activities | (8,515) | (2,918) | (47,750) |
Cash Flows from Investing Activities | |||
Net cash provided (used) by investing activities | 0 | 0 | 0 |
Cash Flows from Financing Activities | |||
Proceeds from notes payable | 10,000 | 5,000 | 49,600 |
Net cash provided (used) by financing activities | 10,000 | 5,000 | 49,600 |
Increase (decrease) in cash | 1,485 | 2,082 | 1,850 |
Cash and cash equivalents at beginning of period | 365 | 1,284 | 0 |
Cash and cash equivalents at end of period | $ 1,850 | $ 3,366 | $ 1,850 |
Supplemental Cash Flow Information: | |||
Cash paid for interest | $ 0 | $ 0 | $ 0 |
Cash paid for income taxes | $ 0 | $ 0 | $ 0 |
Non-Cash Investing and Financing Activities | |||
Stock issued for marketing rights | $ 0 | $ 0 | $ 17,000 |
Converted accounts payable and advances into loans | 0 | 0 | 71,450 |
The accompanying notes are an integral part of these financial statements
5 |
Bingham Canyon Corporation
(A Development Stage Company)
Notes to the Unaudited Condensed Financial Statements
March 31, 2012
NOTE 1 – Condensed Financial Statements
The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows as of and for the period ended March 31, 2012 and for all periods presented have been made.
Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s December 31, 2011 audited financial statements as reported in its Form 10-K. The results of operations for the period ended March 31, 2012 are not necessarily indicative of the operating results for the full year ended December 31, 2012.
NOTE 2 – Going Concern
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company has limited assets, has incurred losses since inception, has negative cash flows from operations, and has no revenue-generating activities. Its activities have been limited for the past several years and it is dependent upon financing to continue operations. These factors raise substantial doubt about the ability of the Company to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. It is management’s plan to acquire or merge with other operating companies.
6 |
In this report references to “Bingham Canyon,” “the Company,” “we,” “us,” and “our” refer to Bingham Canyon Corporation.
FORWARD LOOKING STATEMENTS
The Securities and Exchange Commission (“SEC”) encourages reporting companies to disclose forward-looking information so that investors can better understand future prospects and make informed investment decisions. This report contains these types of statements. Words such as “may,” “intend,” “expect,” “believe,” “anticipate,” “estimate,” “project,” or “continue” or comparable terminology used in connection with any discussion of future operating results or financial performance identify forward-looking statements. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this report. All forward-looking statements reflect our present expectation of future events and are subject to a number of important factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements.
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Executive Overview
We are a development stage company that has not recorded revenues for the past two fiscal years. At March 31, 2012 we had cash of $1,850 and total liabilities of $122,189. We are dependent upon financing to continue basic operations. Management intends to rely upon advances or loans from management, significant stockholders or third parties to meet our cash requirements, but we have not entered into written agreements guaranteeing funds and, therefore, no one is obligated to provide funds to us in the future. These factors raise doubt as to our ability to continue as a going concern. Our plan is to combine with an operating company to generate revenue.
As of the date of this report, our management has not had any discussions with any representative of any other entity regarding a business combination with us. Any target business that is selected may be a financially unstable company or an entity in its early stages of development or growth, including entities without established records of sales or earnings. In that event, we will be subject to numerous risks inherent in the business and operations of financially unstable and early stage or potential emerging growth companies. In addition, we may effect a business combination with an entity in an industry characterized by a high level of risk, and, although our management will endeavor to evaluate the risks inherent in a particular target business, there can be no assurance that we will properly ascertain or assess all significant risks. In addition, any business combination or transaction will likely result in a significant issuance of shares and substantial dilution to present stockholders of the Company.
We anticipate that the selection of a business opportunity will be complex and extremely risky. Because of general economic conditions, rapid technological advances being made in some industries and shortages of available capital, our management believes that there are numerous firms seeking the perceived benefits of becoming a publicly traded corporation. Such perceived benefits of becoming a publicly traded corporation include, among other things, facilitating or improving the terms on which additional equity financing may be obtained, providing liquidity for the principals of and investors in a business, creating a means for providing incentive stock options or similar benefits to key employees, and offering greater flexibility in structuring acquisitions, joint ventures and the like through the issuance of securities. Potentially available business combinations may occur in many different industries and at various stages of development, all of which will make the task of comparative investigation and analysis of such business opportunities extremely difficult and complex.
Management anticipates that the struggling global economy will restrict the number of business opportunities available to us and will restrict the cash available for such transactions. There can be no assurance in the current economy that we will be able to acquire an interest in an operating company.
If we obtain a business opportunity, then it may be necessary to raise additional capital. We anticipate that we will sell our common stock to raise this additional capital. We expect that we would issue such stock pursuant to
7 |
exemptions to the registration requirements provided by federal and state securities laws. The purchasers and manner of issuance will be determined according to our financial needs and the available exemptions to the registration requirements of the Securities Act of 1933. We do not currently intend to make a public offering of our stock. We also note that if we issue more shares of our common stock, then our stockholders may experience dilution in the value per share of their common stock.
Liquidity and Capital Resources
We have not recorded revenues from operations since inception and we have not established an ongoing source of revenue sufficient to cover our operating costs. During the year ended December 31, 2011 we primarily relied upon advances and loans from third parties to fund our operations. At March 31, 2012, we had $1,850 in cash compared to $365 cash at December 31, 2011. The increase in cash resulted from proceeds from additional loans. We had total liabilities of $122,189 at March 31, 2012 compared to total liabilities of $105,639 at December 31, 2011. The increase in total liabilities primarily represents additional loans of $10,000, along with $6,550 in accounts payable related to administrative and professional services, accrued interest and out-of-pocket costs provided to or paid on behalf of the Company by a third party.
We intend to obtain capital from management, significant stockholders and/or third parties to cover minimal operations; however, there is no assurance that additional funding will be available. Our ability to continue as a going concern during the long term is dependent upon our ability to find a suitable business opportunity and acquire or enter into a merger with such company. The type of business opportunity with which we acquire or merge will affect our profitability for the long term.
During the next 12 months we anticipate incurring additional costs related to the filing of Exchange Act reports. We believe we will be able to meet these costs through funds provided by management, significant stockholders and/or third parties. We may also rely on the issuance of our common stock in lieu of cash to convert debt or pay for expenses.
Results of Operations
We did not record revenues in either three month period ended March 31, 2012 or 2011 (“first quarter”). General and administrative expense increased from $2,918 for the 2011 first quarter compared to $9,343 for 2012 first quarter and reflects increased costs related to professional services and audit fees. Accordingly, our net loss increased from $4,453 for the 2011 first quarter compared to $11,065 for 2012 first quarter.
Commitments and Obligations
At March 31, 2012 we recorded loans totaling $86,450 and at December 31, 2011 we recorded loans of $76,450 representing services received, as well as cash advances received from unrelated parties. At December 31, 2010 management intended to issue common stock to convert $71,450 owed to third parties; however, it was subsequently determined that it was not in the best interests of all parties to issue stock for the advances and, therefore, the parties agreed that these liabilities would be treated as loans effective January 1, 2011. All of the loans are non-collateralized, carry interest at 8% and are due on demand.
Off-Balance Sheet Arrangements
We have not entered into any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources and would be considered material to investors.
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
Not applicable to smaller reporting companies.
8 |
ITEM 4. CONTROLS AND PROCEDURES
Disclosure Controls and Procedures
We maintain disclosure controls and procedures (as defined in Rule 13a-15(e) or 15d-15(e) under the Exchange Act) that are designed to ensure that information required to be disclosed in our filings under the Exchange Act is recorded, processed, summarized and reported within the periods specified in the rules and forms of the SEC. This information is accumulated to allow our management to make timely decisions regarding required disclosure. Our President, who serves as our principal executive officer and principal financial officer, evaluated the effectiveness of our disclosure controls and procedures as of the end of the period covered by this report and he determined that our disclosure controls and procedures were ineffective due to a control deficiency. During the period we did not have additional personnel to allow segregation of duties to ensure the completeness or accuracy of our information. Due to the size and operations of the Company we are unable to remediate this deficiency until we acquire or merge with another company.
Changes to Internal Control over Financial Reporting
Our management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act). Management conducted an evaluation of our internal control over financial reporting and determined that there were no changes made in our internal control over financial reporting during the quarter ended March 31, 2012 that have materially affected, or are reasonably likely to materially affect our internal control over financial reporting.
PART II – OTHER INFORMATION
ITEM 6. EXHIBITS
Part I Exhibits
No. | Description |
31.1 | Principal Executive Officer Certification |
31.2 | Principal Financial Officer Certification |
32.1 | Section 1350 Certification |
Part II Exhibits
No. | Description |
3(i) | Articles of Incorporation (Incorporated by reference to exhibit 3.1 to Form 10-SB, filed September 18, 2000) |
3(ii) | Bylaws of Bingham Canyon (Incorporated by reference to exhibit 3.3 to Form 10-SB filed September 18, 2000) |
101.INS | XBRL Instance Document |
101.SCH | XBRL Taxonomy Extension Schema Document |
101.CAL | XBRL Taxonomy Calculation Linkbase Document |
101.DEF | XBRL Taxonomy Extension Definition Linkbase Document |
9 |
Part II Exhibits - continued
No. | Description |
101.LAB | XBRL Taxonomy Label Linkbase Document |
101.PRE | XBRL Taxonomy Presentation Linkbase Document |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Date: May 15, 2012 |
BINGHAM CANYON CORPORATION
By: /s/ Brett D. Mayer Brett D. Mayer President and Director Principal Financial Officer |
Exhibit 31.1
PRINCIPAL EXECUTIVE OFFICER CERTIFICATION
I, Brett D. Mayer, certify that:
1. | I have reviewed this quarterly report on Form 10-Q of Bingham Canyon Corporation; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statement made, in light of the circumstances under which statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report. |
4. | The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5. | The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent function): |
(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
Date: May 15, 2012 |
/s/ Brett D. Mayer Brett D. Mayer Principal Executive Officer |
Exhibit 31.2
PRINCIPAL FINANCIAL OFFICER CERTIFICATION
I, Brett D. Mayer, certify that:
1. | I have reviewed this quarterly report on Form 10-Q of Bingham Canyon Corporation; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statement made, in light of the circumstances under which statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report. |
4. | The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5. | The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent function): |
(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
Date: May 15, 2012 |
/s/ Brett D. Mayer Brett D. Mayer Principal Financial Officer |
Exhibit 32.1
BINGHAM CANYON CORPORATION
CERTIFICATION OF PERIODIC REPORT
Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
18 U.S.C. Section 1350
The undersigned executive officer of Bingham Canyon Corporation certifies pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 that:
a. the quarterly report on Form 10-Q of Bingham Canyon Corporation for the quarter ended March 31, 2012 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
b. the information contained in the Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of Bingham Canyon Corporation.
Date: May 15, 2012 |
/s/ Brett D. Mayer Brett D. Mayer Principal Executive Officer Principal Financial Officer |
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Balance Sheets (USD $)
|
Mar. 31, 2012
|
Dec. 31, 2011
|
---|---|---|
CURRENT ASSETS | ||
Cash | $ 1,850 | $ 365 |
Prepaid expense | 4,000 | |
Total current assets | 5,850 | 365 |
TOTAL ASSETS | 5,850 | 365 |
CURRENT LIABILITIES | ||
Accounts payable | 27,998 | 23,170 |
Loans | 86,450 | 76,450 |
Accrued interest | 7,741 | 6,019 |
Total current liabilities | 122,189 | 105,639 |
Total liabilities | 122,189 | 105,639 |
STOCKHOLDERS' EQUITY | ||
Common stock, $.001 par value; 100,000,000 shares authorized; 19,150,000 shares issued and outstanding | 19,150 | 19,150 |
Additional paid-in capital | 30,850 | 30,850 |
Deficit accumulated during the development stage | (166,339) | (155,274) |
Total stockholders' equity | (116,339) | (105,274) |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 5,850 | $ 365 |
Condensed Financial Statements
|
3 Months Ended |
---|---|
Mar. 31, 2012
|
|
Notes to Financial Statements | |
Condensed Financial Statements |
NOTE 1 Condensed Financial Statements
The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows as of and for the period ended March 31, 2012 and for all periods presented have been made.
Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Companys December 31, 2011 audited financial statements as reported in its Form 10-K. The results of operations for the period ended March 31, 2012 are not necessarily indicative of the operating results for the full year ended December 31, 2012. |
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Going Concern
|
3 Months Ended |
---|---|
Mar. 31, 2012
|
|
Notes to Financial Statements | |
Going Concern |
NOTE 2 Going Concern
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company has limited assets, has incurred losses since inception, has negative cash flows from operations, and has no revenue-generating activities. Its activities have been limited for the past several years and it is dependent upon financing to continue operations. These factors raise substantial doubt about the ability of the Company to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. It is managements plan to acquire or merge with other operating companies. |
Balance Sheets (Parenthetical) (USD $)
|
Mar. 31, 2012
|
Dec. 31, 2011
|
---|---|---|
Statement of Financial Position [Abstract] | ||
Common stock par value | $ 0.001 | $ 0.001 |
Common stock shares authorized | 100,000,000 | 100,000,000 |
Common stock shares issued | 19,150,000 | 19,150,000 |
Common stock shares outstanding | 19,150,000 | 19,150,000 |
Document and Entity Information
|
3 Months Ended | |
---|---|---|
Mar. 31, 2012
|
May 08, 2012
|
|
Document And Entity Information | ||
Entity Registrant Name | Bingham Canyon Corporation | |
Entity Central Index Key | 0001119897 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2012 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Is Entity a Well-known Seasoned Issuer? | No | |
Is Entity a Voluntary Filer? | Yes | |
Is Entity's Reporting Status Current? | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 19,150,000 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2012 |
Statements of Operations (USD $)
|
3 Months Ended | 313 Months Ended | |
---|---|---|---|
Mar. 31, 2012
|
Mar. 31, 2011
|
Mar. 31, 2012
|
|
Income Statement [Abstract] | |||
Revenues | $ 0 | $ 0 | $ 0 |
Expenses | |||
General and administrative | 9,343 | 2,918 | 158,598 |
Total expenses | 9,343 | 2,918 | 158,598 |
Net loss before other expense | (9,343) | (2,918) | (158,598) |
Other income (expense) | |||
Interest expense | (1,722) | (1,535) | (7,741) |
Total other income (expense) | (1,722) | (1,535) | (7,741) |
Loss from operations before income taxes | (11,065) | (4,453) | (166,339) |
Income taxes | 0 | 0 | 0 |
Net loss | $ (11,065) | $ (4,453) | $ (166,339) |
Basic and diluted net loss per share | $ 0.00 | $ 0.00 | |
Weighted average shares outstanding | 19,150,000 | 19,150,000 |