0001096906-13-001175.txt : 20130729 0001096906-13-001175.hdr.sgml : 20130729 20130729154851 ACCESSION NUMBER: 0001096906-13-001175 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 9 CONFORMED PERIOD OF REPORT: 20130630 FILED AS OF DATE: 20130729 DATE AS OF CHANGE: 20130729 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Tintic Gold Mining CO CENTRAL INDEX KEY: 0001301839 STANDARD INDUSTRIAL CLASSIFICATION: GOLD & SILVER ORES [1040] IRS NUMBER: 870448400 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-52368 FILM NUMBER: 13992451 BUSINESS ADDRESS: STREET 1: 1288 JIGAO ROAD STREET 2: MINBEI INDUSTRIAL DISTRICT, MINHANG CITY: SHANGHAI STATE: F4 ZIP: 00000 BUSINESS PHONE: 86-21-62965657 MAIL ADDRESS: STREET 1: 1288 JIGAO ROAD STREET 2: MINBEI INDUSTRIAL DISTRICT, MINHANG CITY: SHANGHAI STATE: F4 ZIP: 00000 10-Q 1 tinti.htm TINTIC GOLD MINING COMPANY 10Q 2013-06-30 tinti.htm


U. S. Securities and Exchange Commission
Washington, D. C. 20549

FORM 10-Q
 
[X]
QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
   
 
For the quarterly period ended June 30, 2013
   
[   ]
TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
   
 
For the transition period from _____ to _____

Commission File No. 0-52368
 
  TINTIC GOLD MINING COMPANY
 
(Exact Name of Registrant in its Charter)
 
     
Nevada
87-0448400
(State or Other Jurisdiction of incorporation or organization)
(I.R.S. Employer I.D. No.)
     
1288 Jigao Road, Minbei Industrial District, Minhang, Shanghai, P.R. China 201107
  (Address of Principal Executive Offices)
     
  Issuer’s Telephone Number: 86-21-62965657
 
Indicate  by check mark  whether the  Registrant  (1) has filed all reports required to be filed by Sections 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 shell company (as defined in Rule 12b-2 of the Exchange Act) 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. (Check One)
 
Large accelerated filer             Accelerated filer           Non-accelerated filer          Smaller reporting company [X] 
 
APPLICABLE ONLY TO CORPORATE ISSUERS:  Indicate the number of shares outstanding of each of the Registrant's classes of common stock, as of the latest practicable date:
 
July 29, 2013
Common Voting Stock: 1,858,338
 
 
 

 

TINTIC GOLD MINING COMPANY
 
[A Development Stage Company]
 
             
BALANCE SHEETS
 
   
June 30,
   
December 31,
 
   
2013
   
2012
 
ASSETS
 
(Unaudited)
       
             
CURRENT ASSETS:
           
Cash
  $ -     $ -  
Total Assets
  $ -     $ -  
                 
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
               
                 
CURRENT LIABILITIES:
               
Accounts payable and accrued expense
  $ 6,478     $ 4,647  
Loan from related party
    68,532       57,643  
Total Current Liabilities
    75,010       62,290  
                 
STOCKHOLDERS' EQUITY (DEFICIT)
               
      1,858       1,858  
Common stock, $.001 par value, 50,000,000 shares authorized, 1,858,338 issued and outstanding
               
Capital in excess of par value
    255,349       255,349  
Deficit accumulated during the development stage
    (332,217 )     (319,497 )
Total Stockholders' Equity (Deficit)
    (75,010 )     (62,290 )
Total Liabilities and Stockholders' Equity (Deficit)
  $ -     $ -  
 
The accompanying notes are an integral part of these condensed financial statements.

 
1

 

TINTIC GOLD MINING COMPANY
 
[A Development Stage Company]
 
                               
STATEMENTS OF OPERATIONS (UNAUDITED)
 
                               
                           
From inception of
 
                           
development stage
 
                           
on December 31,
 
   
For the Three Months Ended
   
For the Six Months Ended
   
1997, through
 
   
June 30,
   
June 30,
   
June 30,
   
June 30,
   
June 30,
 
   
2013
   
2012
   
2013
   
2012
   
2013
 
                               
Revenues
  $ -     $ -     $ -     $ -     $ -  
Total Revenues
    -       -       -       -       -  
                                         
Expenses
                                       
General & Administrative
    12,001       8,923       12,720       11,529       262,285  
Failed acquisition costs
    -       -       -       -       85,758  
Total Expenses
    12,001       8,923       12,720       11,529       348,043  
                                         
Loss From Operations
    (12,001 )     (8,923 )     (12,720 )     (11,529 )     (348,043 )
                                         
Other Income (Expense)
                                       
Interest Income
    -       -       -       -       8,632  
Interest Expense
    -       -       -       -       (44 )
Warrant Grant
    -       (746 )     -       (746 )     (2,611 )
Gain on Sale of Securities
    -       -       -       -       8,084  
Total Other Income & Expense
    -       (746 )     -       (746 )     14,061  
                                         
Loss Before Income Taxes
    (12,001 )     (9,669 )     (12,720 )     (12,275 )     (333,982 )
                                         
Current Income Taxes (Benefit)
    -       -       -       -       (1,765 )
Deferred Tax Expense
    -       -       -       -       -  
                                         
Net Loss
  $ (12,001 )   $ (9,669 )   $ (12,720 )   $ (12,275 )   $ (332,217 )
                                         
Loss per Share
  $ (0.01 )   $ (0.01 )   $ (0.01 )   $ (0.01 )        

The accompanying notes are an integral part of these condensed financial statements.

 
2

 
TINTIC GOLD MINING COMPANY
 
[A Development Stage Company]
 
                   
STATEMENTS OF CASH FLOWS (UNAUDITED)
 
               
From inception of
 
               
development stage on
 
               
December 31, 1997
 
   
For the Six Months Ended
   
through
 
   
June 30,
   
June 30,
   
June 30,
 
   
2013
   
2012
   
2013
 
Cash flows used in operating activities:
                 
Net loss
  $ (12,720 )   $ (12,275 )   $ (332,217 )
Adjustments to reconcile net loss to cash used in operating activities:
                       
Non-cash stock issued for services rendered
    -       -       97,846  
Gain on sale of securities
    -       -       (8,084 )
Warrant grant
    -       746       2,611  
Change in operating assets and liabilities:
                       
(Decrease) increase in accounts payable
    1,831       12       6,331  
Payment of expenses by related party
    -       -       33,975  
Decrease in income taxes payable
    -       -       (565 )
Net cash used in operating activities
    (10,889 )     (11,517 )     (200,103 )
                         
Cash flows from investing activities:
                       
Purchase of securities
    -       -       (7,609 )
Proceeds from sale of securities
    -       -       23,960  
Net cash flows provided by investing activities
    -       -       16,351  
                         
Cash flows from financing activities:
                       
Proceeds from note payable - related party
    -       -       3,501  
Proceeds from loans - related party
    10,889       11,517       92,878  
Proceeds from sale of common stock
    -       -       55,000  
Net cash flows provided by financing activities
    10,889       11,517       151,379  
                         
Net decrease  in cash
    -       -       (32,373 )
Cash and cash equivalents at beginning of period
    -       -       32,373  
Cash and cash equivalents at end of period
  $ -     $ -     $ -  
Supplemental Disclosures of Cash Flow Information:
                       
Cash paid during the periods for:
                       
Interest
  $ -     $ -     $ -  
Income taxes
  $ -     $ -     $ 3,565  

The accompanying notes are an integral part of these condensed financial statements.

 
3

 

TINTIC GOLD MINING COMPANY
[A Development Stage Company]

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

 
NOTE 1 -- ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

History and Nature of Business - Tintic Gold Mining Company (“the Company”) was organized under the laws of the State of Nevada on March 8, 2004 as a wholly-owned subsidiary of Tintic Gold Mining Company (“Parent”), a Utah corporation, (now known as KIWA Bio-Tech Products Group Corporation).  The Company was founded for the purpose of continuing the exploration of the mining claims transferred to it by Parent.  In 2006 Parent distributed the outstanding shares of the Company to its shareholders pursuant to a registration statement declared effective by the Securities and Exchange Commission on October 18, 2006.

As a part of a change in control of the Company in December 2009 and in consideration of the waiver of debt owed by the Company to the previous controlling shareholders, the Company agreed to a put and call agreement wherein the shareholders were given an irrevocable option to acquire the Company’s right, title and interest in all of the mining claims.  The shareholders also granted to the Company an irrevocable option to require the shareholders to accept title to the mining claims at any time during the option period.  The Company exercised the option on February 8, 2010, and transferred all of its mining assets to the previous controlling shareholders.

The Company currently has no business assets and no business operations.

Financial Statement Presentation. The accompanying financial statements include the prior operations of Parent from its inception of exploration stage activities on December 31, 1997 through the spin-off of the Company, and include the accounts of the Company from its date of incorporation to the date of the financial statements.

Development Stage.  On and prior to December 31, 2009, the Company was considered to be an Exploration Stage Company, although, as of December 31, 2009, the Company did not have any current mining exploration, development or production activities on its existing properties.  After transferring its mining assets to its prior majority shareholders in February 2010, the Company became a development stage company.

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 at June 30, 2013 and 2012 and for the periods then ended 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, 2012 audited financial statements.  The results of operations for the period ended June 30, 2013 are not necessarily indicative of the operating results for the full year.

 
4

 

TINTIC GOLD MINING COMPANY
[A Development Stage Company]

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS


NOTE 1 -- ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
 
Cash and Cash Equivalents - The Company considers all highly-liquid debt investments purchased with a maturity of three months or less to be cash equivalents.

Income Taxes - The Company adopted the provisions of ASC Topic No. 740, “Accounting for Income Taxes”, on January 1, 2007.  As a result of the implementation of ASC Topic No. 740, the Company recognized approximately no increase in the liability for unrecognized tax benefits.

The Company has no tax positions at June 30, 2013 and December 31, 2012 for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility.

The Company recognizes interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses.  During the six month periods ended June 30, 2013 and 2012, the Company recognized no interest and penalties.  The Company had no accruals for interest and penalties at June 30, 2013 or December 31, 2012.  All tax years starting with 2009 are open for examination.

Loss Per Share - The computation of loss per share is based on the weighted average number of common shares outstanding during the period presented in accordance with ASC Topic No. 260, “Earnings Per Share” [See Note 5].

Accounting Estimates - The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amount of revenues and expenses during the reported period.  Actual results could differ from those estimated.

Recently Enacted Accounting Standards - There were no recently enacted accounting standards that the Company expects to have a material effect on its financial statements for future periods.

NOTE 2 - CAPITAL STOCK

Common Stock - The Company has authorized 50,000,000 shares of common stock with a par value of $.001.

Warrants - In conjunction with the change in control in December 2009, the Company exchanged common stock purchase warrants in exchange for 270,584 shares of the Company’s common stock, which shares were being held as treasury shares.  The common stock purchase warrants allowed the holders to acquire 0.4% of the outstanding common stock of the Company within two years from the date of issuance of said purchase warrants.  The warrants were valued at $.20 per share given up or $54,117.

 
5

 

TINTIC GOLD MINING COMPANY
[A Development Stage Company]

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS


NOTE 2 - CAPITAL STOCK (Continued)

In December 2011 the termination date of the warrants was extended to June 18, 2012.  The fair value of $1,119 for the six month extension was calculated using a Black-Scholes option pricing model with the following assumptions:

Expected life
 
0.5 years
 
Expected volatility
    1 %
Risk-free interest rate
    1.46 %
Expected dividend yield
    0.00 %

In June 2012 the termination date of the warrants was extended to December 18, 2012.  The fair value of $746 for the six month extension was calculated using a Black-Scholes option pricing model with the following assumptions:

Expected life
 
0.5 years
 
Expected volatility
    1 %
Risk-free interest rate
    0.625 %
Expected dividend yield
    0.00 %

In December 2012 the termination date of the warrants was extended to June 18, 2013.  The fair value of $746 for the six month extension was calculated using a Black-Scholes option pricing model with the following assumptions:

Expected life
 
0.5 years
 
Expected volatility
    1 %
Risk-free interest rate
    0.77 %
Expected dividend yield
    0.00 %

On June 18, 2013 the warrants expired.

NOTE 3 - RELATED PARTY TRANSACTIONS
 
Related Party Loans – During the six month periods ended June 30, 2013 and 2012, a portion of the expenses of the Company were paid by its majority shareholder.  The payments were recorded as “loans from related party.”  The loans are payable on demand and do not bear interest.

Management Compensation - During the six month periods ended June 30, 2013 and 2012, the Company did not pay any compensation to any officer or director of the Company.

Office Space - The Company has not had a need to rent office space.  An officer of the Company allows the Company to use his address, as needed, at no expense to the Company.

 
6

 

TINTIC GOLD MINING COMPANY
[A Development Stage Company]

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

 
NOTE 4 - GOING CONCERN
 
The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of the Company as a going concern.  However, the Company has not yet been successful in establishing profitable operations and, as of June 30, 2013, the Company had no assets.
 
These factors raise substantial doubt about the ability of the Company to continue as a going concern.  In this regard, management is proposing to raise any necessary additional funds not provided by operations through loans or through additional sales of its common stock or through a possible business combination.  There is no assurance that the Company will be successful in raising this additional capital or in achieving profitable operations.  The financial statements do not include any adjustments that might result from the outcome of these uncertainties.

NOTE 5 - LOSS PER SHARE

The following data shows the amounts used in computing loss per share:

   
For the Three Months Ended
   
For the Six Months Ended
 
   
June 30,
   
June 30,
 
   
2013
   
2012
   
2013
   
2012
 
                         
Loss from continuing operations available to common shareholders (numerator)
  $ ( 12,001 )   $ ( 9,669 )   $ ( 12,720 )   $ ( 12,275 )
                                 
Weighted average number of common shares outstanding used in loss per share for the period (denominator)
        1,858,338           1,858,338       1,858,338       1,858,338  

Dilutive loss per share was not presented, as the Company had no common stock equivalent shares for all periods presented that would affect the computation of diluted loss per share or the effect would be anti-dilutive.
 
NOTE 6 - SUBSEQUENT EVENTS

The Company has evaluated subsequent events from the balance sheet date and determined there are no events to disclose through the date the financial statements were issued.

 
7

 
 
ITEM 2.   MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Results of Operations

We currently have no assets and no operations.  During the three months ended June 30, 2013, we realized no revenue and incurred $12,001 in operating expenses, resulting in a loss from operations and net loss in that amount.  During the three months ended June 30, 2012, we realized no revenue and incurred $8,923 in operating expenses, resulting in a loss from operations in that amount.  We also incurred an other expense of $746 during the three months ended June 30, 2012, which was the fair value of the warrant extension that we granted on June 18, 2012.  The increase in expenses from the second quarter of 2012 to the second quarter of 2013 resulted from 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 2011 annual report on time and incurred most of the related expenses in the first quarter of 2012.
 
 
Results of our operations for the six month periods ended June 30, 2013 and 2012 were substantially similar.  During the six months ended June 30, 2013, we realized no revenue and incurred $12,720 in operating expenses, resulting in a loss from operations and net loss in that amount.  During the six months ended June 30, 2012, we realized no revenue and incurred $11,529 in operating expenses and the aforementioned other expense of $746, resulting in a net loss of $12,275.  The increased loss from operations and net loss arose from increases in professional fees.
 
 
Control of Tintic Gold Mining Company was transferred to Ding Lieping in December 2009.  During his tenure, Mr. Ding has financed our operations by making loans to cover our expenses. 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, 2013 we had a working capital deficit of $75,010, as we had no assets and $75,010 in liabilities.  The majority of our liabilities, $68,532, consist of loans payable to Ding Lieping, our majority shareholder, who is funding our operations.  The loans are payable on demand and do not bear interest.  We expect our working capital deficit to continue indefinitely, as long as Ding Lieping continues to lend us the sums necessary to pay our expenses.
 
 
8

 
 
Our operations used $10,889 in cash during the six months ended June 30, 2013, as we increased our accounts payable by $1,831 during that period and borrowed the remainder of our cash requirements from Ding Lieping.  Our operations consumed $11,517 in cash during the six months ended June 30, 2012, but Ding Lieping loaned us that amount, resulting in no change in our cash balance.  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.

To date we have supplied our cash needs by obtaining loans 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.
 
ITEM 3  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
 
Not applicable.

ITEM 4   CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures.  Ding Lieping, our Chief Executive Officer and Chief Financial Officer, carried out an evaluation of the effectiveness of the Company’s disclosure controls and procedures as of June 30, 2013.  Pursuant to Rule 13a-15(e) promulgated by the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, “disclosure controls and procedures” means controls and other procedures that are designed to insure that information required to be disclosed by the Company in the reports that it files with the Securities and Exchange Commission is recorded, processed, summarized and reported within the time limits specified in the Commission’s rules.  “Disclosure controls and procedures” include, without limitation, controls and procedures designed to insure that information the Company is required to disclose in the reports it files with the Commission is accumulated and communicated to our Chief Executive Officer and Chief Financial Officer as appropriate to allow timely decisions regarding required disclosure.  Based on his evaluation, Mr. Ding concluded that the Company’s system of disclosure controls and procedures was effective as of June 30, 2013 for the purposes described in this paragraph.

Changes in Internal Controls.  There was no change in internal controls over financial reporting (as defined in Rule 13a-15(f) promulgated under the Securities Exchange Act of 1934) identified in connection with the evaluation described in the preceding paragraph that occurred during the Company’s second fiscal quarter that has materially affected or is reasonably likely to materially affect the Company’s internal control over financial reporting.

 
9

 
 
PART II   -   OTHER INFORMATION
 
Item 6.                 Exhibits
 
31
Rule 13a-14(a) Certification
   
32
Rule 13a-14(b) Certification
   
101.INS
XBRL Instance
   
101.SCH
XBRL Schema
   
101.CAL
XBRL Calculation
   
101.DEF
XBRL Definition
   
101.LAB
XBRL Label
   
101.PRE
XBRL Presentation


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.
 
 
TINTIC GOLD MINING COMPANY
   
Date: July 29, 2013
By: /s/ Ding Lieping
 
Ding Lieping, Chief Executive Officer  and Chief Financial Officer
 
 
 
 
 
10

 
EX-31 2 tintiexh31.htm RULE 13A-14(A) CERTIFICATION tintiexh31.htm
EXHIBIT 31



EXHIBIT 31: Rule 13a-14(a) Certifications

I, Ding Lieping, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Tintic Gold Mining Company;
 
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 statements made, in light of the circumstances under which such 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 officers 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 controls 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 controls over financial reporting, or caused such internal controls 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 officers and I have disclosed, based on our most recent evaluation of internal controls over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
 
a) All significant deficiencies and material weaknesses in the design or operation of internal controls 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 controls over financial reporting.
 
 
Date: July 29, 2013
By: /s/ Ding Lieping
 
Ding Lieping, Chief Executive Officer and Chief Financial Officer

 
 
 
 

 
EX-32 3 tintiexh32.htm RULE 13A-14(B) CERTIFICATION tintiexh32.htm
EXHIBIT 32



EXHIBIT 32: Rule 13a-14(b) Certification
 
 
Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, the undersigned officer of Tintic Gold Mining Company (the “Company”) certifies that:
 
1. The Quarterly Report on Form 10-Q of the Company for the period ended June 30, 2013 (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)); and
 
2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
 

Date: July 29, 2013
By: /s/ Ding Lieping
 
Ding Lieping, Chief Executive Officer and Chief Financial Officer

 
 
 

 
EX-101.INS 4 tmgg-20130630.xml XBRL INSTANCE 12 1831 6331 4647 6478 false 255349 255349 0 0 0 0 32373 0.001 50000000 1858338 1858338 1858338 1858338 1858 1858 --12-31 1765 -565 0 0 0 0 0 319497 332217 Q2 2013 2013-06-30 10-Q 0001301839 1858338 Yes Smaller Reporting Company TINTIC GOLD MINING CO No No 85758 8084 11529 12720 262285 8923 12001 3565 0 0 0 44 8632 57643 68532 -12275 -12720 -333982 -9669 -12001 -11529 -12720 -348043 -8923 -12001 -0.01 -0.01 -0.01 -0.01 11517 10889 151379 16351 -11517 -10889 -200103 -32373 -12275 -12720 -332217 -9669 -12001 97846 33975 11517 10889 92878 3501 55000 23960 7609 0 0 0 0 0 0 0 62290 75010 11529 12720 348043 8923 12001 0 0 -746 14061 -746 0 0 0 0 0 -62290 -75010 746 746 746 2611 746 <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'><b>NOTE 1 -- ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</b></p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;text-align:justify;line-height:12.0pt'><b>History and Nature of Business</b> - Tintic Gold Mining Company (&#147;the Company&#148;) was organized under the laws of the State of Nevada on March 8, 2004 as a wholly-owned subsidiary of Tintic Gold Mining Company (&#147;Parent&#148;), a Utah corporation, (now known as KIWA Bio-Tech Products Group Corporation).&#160; The Company was founded for the purpose of continuing the exploration of the mining claims transferred to it by Parent.&#160; In 2006 Parent distributed the outstanding shares of the Company to its shareholders pursuant to a registration statement declared effective by the Securities and Exchange Commission on October 18, 2006.&#160;&#160; </p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;text-align:justify;line-height:12.0pt'>As a part of a change in control of the Company in December 2009 and in consideration of the waiver of debt owed by the Company to the previous controlling shareholders, the Company agreed to a put and call agreement wherein the shareholders were given an irrevocable option to acquire the Company&#146;s right, title and interest in all of the mining claims.&#160; The shareholders also granted to the Company an irrevocable option to require the shareholders to accept title to the mining claims at any time during the option period.&#160; The Company exercised the option on February 8, 2010, and transferred all of its mining assets to the previous controlling shareholders.</p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;text-align:justify;line-height:12.0pt'>The Company currently has no business assets and no business operations.</p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:27.0pt;text-align:justify;line-height:12.0pt'><b>Financial Statement Presentation. </b>The accompanying financial statements include the prior operations of Parent from its inception of exploration stage activities on December 31, 1997 through the spin-off of the Company, and include the accounts of the Company from its date of incorporation to the date of the financial statements.</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:27.0pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;text-align:justify;line-height:12.0pt'><b>Development Stage.</b>&#160; On and prior to December 31, 2009, the Company was considered to be an Exploration Stage Company, although, as of December 31, 2009, the Company did not have any current mining exploration, development or production activities on its existing properties.&#160; After transferring its mining assets to its prior majority shareholders in February 2010, the Company became a development stage company.</p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'><b>Condensed Financial Statements.</b> &nbsp;The accompanying financial statements have been prepared by the Company without audit. &nbsp;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 at June 30, 2013 and 2012 and for the periods then ended have been made.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'>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. &nbsp;It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company&#146;s December 31, 2012 audited financial statements. &nbsp;The results of operations for the period ended June 30, 2013 are not necessarily indicative of the operating results for the full year. </p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:27.0pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:27.0pt;text-align:justify;line-height:12.0pt'><b>Cash and Cash Equivalents -</b> The Company considers all highly-liquid debt investments purchased with a maturity of three months or less to be cash equivalents.</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-.25in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-3.9pt;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'><b>Income Taxes - </b>The Company adopted the provisions of ASC Topic No. 740, &#147;Accounting for Income Taxes&#148;, on January 1, 2007.&nbsp;&nbsp;As a result of the implementation of ASC Topic No. 740, the Company recognized approximately no increase in the liability for unrecognized tax benefits.&#160; </p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-3.9pt;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-.05in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'>The Company has no tax positions at June 30, 2013 and December 31, 2012 for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility.</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-.05in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-.05in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'>The Company recognizes interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses.&nbsp;&nbsp;During the six month periods ended June 30, 2013 and 2012, the Company recognized no interest and penalties.&nbsp;&nbsp;The Company had no accruals for interest and penalties at June 30, 2013 or December 31, 2012.&#160; All tax years starting with 2009 are open for examination.</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-.05in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-3.9pt;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;line-height:12.0pt'><b>Loss Per Share -</b> The computation of loss per share is based on the weighted average number of common shares outstanding during the period presented in accordance with ASC Topic No. 260, &#147;Earnings Per Share&#148; [<i>See Note 5</i>].</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-3.9pt;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-.05in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'><b>Accounting Estimates</b> <b>-</b> The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amount of revenues and expenses during the reported period.&#160; Actual results could differ from those estimated.</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-.05in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:27.0pt;text-align:justify;line-height:12.0pt'><b>Recently Enacted Accounting Standards - </b>There were no recently enacted accounting standards that the Company expects to have a material effect on its financial statements for future periods.&#160; </p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-right:-.25in;text-align:justify;line-height:12.0pt'><b>NOTE 2 - CAPITAL STOCK</b></p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-right:-.25in;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'><b>Common Stock - </b>The Company has authorized 50,000,000 shares of common stock with a par value of $.001.&#160; </p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'><b>Warrants - </b>In conjunction with the change in control in December 2009, the Company exchanged common stock purchase warrants in exchange for 270,584 shares of the Company&#146;s common stock, which shares were being held as treasury shares.&#160; The common stock purchase warrants allowed the holders to acquire 0.4% of the outstanding common stock of the Company within two years from the date of issuance of said purchase warrants.&#160; The warrants were valued at $.20 per share given up or $54,117.</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'>In December 2011 the termination date of the warrants was extended to June 18, 2012.&#160; The fair value of $1,119 for the six month extension was calculated using a Black-Scholes option pricing model with the following assumptions:</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'>&nbsp;</p> <table border="1" cellspacing="0" cellpadding="0" style='margin-left:77.4pt;border-collapse:collapse;border:none'> <tr align="left"> <td width="270" valign="bottom" style='width:202.5pt;border:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;line-height:12.0pt'>Expected life</p> </td> <td width="120" valign="bottom" style='width:1.25in;border:solid windowtext 1.0pt;border-left:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right;line-height:12.0pt'>0.5 years</p> </td> </tr> <tr align="left"> <td width="270" valign="bottom" style='width:202.5pt;border:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;line-height:12.0pt'>Expected volatility</p> </td> <td width="120" valign="bottom" style='width:1.25in;border-top:none;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right;line-height:12.0pt'>1%</p> </td> </tr> <tr align="left"> <td width="270" valign="bottom" style='width:202.5pt;border:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;line-height:12.0pt'>Risk-free interest rate</p> </td> <td width="120" valign="bottom" style='width:1.25in;border-top:none;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right;line-height:12.0pt'>1.46%</p> </td> </tr> <tr align="left"> <td width="270" valign="bottom" style='width:202.5pt;border:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;line-height:12.0pt'>Expected dividend yield</p> </td> <td width="120" valign="bottom" style='width:1.25in;border-top:none;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right;line-height:12.0pt'>0.00%</p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'>In June 2012 the termination date of the warrants was extended to December 18, 2012.&#160; The fair value of $746 for the six month extension was calculated using a Black-Scholes option pricing model with the following assumptions:</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'>&nbsp;</p> <table border="1" cellspacing="0" cellpadding="0" style='margin-left:77.4pt;border-collapse:collapse;border:none'> <tr align="left"> <td width="270" valign="bottom" style='width:202.5pt;border:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;line-height:12.0pt'>Expected life</p> </td> <td width="120" valign="bottom" style='width:1.25in;border:solid windowtext 1.0pt;border-left:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right;line-height:12.0pt'>0.5 years</p> </td> </tr> <tr align="left"> <td width="270" valign="bottom" style='width:202.5pt;border:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;line-height:12.0pt'>Expected volatility</p> </td> <td width="120" valign="bottom" style='width:1.25in;border-top:none;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right;line-height:12.0pt'>1%</p> </td> </tr> <tr align="left"> <td width="270" valign="bottom" style='width:202.5pt;border:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;line-height:12.0pt'>Risk-free interest rate</p> </td> <td width="120" valign="bottom" style='width:1.25in;border-top:none;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right;line-height:12.0pt'>0.625%</p> </td> </tr> <tr align="left"> <td width="270" valign="bottom" style='width:202.5pt;border:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;line-height:12.0pt'>Expected dividend yield</p> </td> <td width="120" valign="bottom" style='width:1.25in;border-top:none;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right;line-height:12.0pt'>0.00%</p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'>In December 2012 the termination date of the warrants was extended to June 18, 2013.&#160; The fair value of $746 for the six month extension was calculated using a Black-Scholes option pricing model with the following assumptions:</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'>&nbsp;</p> <table border="1" cellspacing="0" cellpadding="0" style='margin-left:77.4pt;border-collapse:collapse;border:none'> <tr align="left"> <td width="270" valign="bottom" style='width:202.5pt;border:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;line-height:12.0pt'>Expected life</p> </td> <td width="120" valign="bottom" style='width:1.25in;border:solid windowtext 1.0pt;border-left:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right;line-height:12.0pt'>0.5 years</p> </td> </tr> <tr align="left"> <td width="270" valign="bottom" style='width:202.5pt;border:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;line-height:12.0pt'>Expected volatility</p> </td> <td width="120" valign="bottom" style='width:1.25in;border-top:none;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right;line-height:12.0pt'>1%</p> </td> </tr> <tr align="left"> <td width="270" valign="bottom" style='width:202.5pt;border:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;line-height:12.0pt'>Risk-free interest rate</p> </td> <td width="120" valign="bottom" style='width:1.25in;border-top:none;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right;line-height:12.0pt'>0.77%</p> </td> </tr> <tr align="left"> <td width="270" valign="bottom" style='width:202.5pt;border:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;line-height:12.0pt'>Expected dividend yield</p> </td> <td width="120" valign="bottom" style='width:1.25in;border-top:none;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right;line-height:12.0pt'>0.00%</p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'>&nbsp;</p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-bottom:6.0pt;text-align:justify;line-height:12.0pt'><b>NOTE 3 RELATED PARTY TRANSACTIONS</b></p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'><b>Related Party Loans &#150; </b>During the six month periods ended June 30, 2013 and 2012, a portion of the expenses of the Company were paid by its majority shareholder.&#160; The payments were recorded as &#147;loans from related party.&#148;&#160; The loans are payable on demand and do not bear interest.&#160; </p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'><b>Management Compensation -</b> During the six month periods ended June 30, 2013 and 2012, the Company did not pay any compensation to any officer or director of the Company.</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'><b>Office Space -</b> The Company has not had a need to rent office space.&#160; An officer of the Company allows the Company to use his address, as needed, at no expense to the Company.</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-.25in;margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-align:center;line-height:12.0pt'>&nbsp;</p> <b><font style='layout-grid-mode:line'> </font></b> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-.25in;margin-bottom:6.0pt;margin-left:0in;text-align:justify;line-height:12.0pt'>&nbsp;</p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-.25in;margin-bottom:6.0pt;margin-left:0in;text-align:justify;line-height:12.0pt'><b>NOTE 4 GOING CONCERN</b></p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:.25in;text-align:justify;line-height:12.0pt'>The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of the Company as a going concern.&#160; However, the Company has not yet been successful in establishing profitable operations and, as of June 30, 2013, the Company had no assets.</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'>These factors raise substantial doubt about the ability of the Company to continue as a going concern.&#160; In this regard, management is proposing to raise any necessary additional funds not provided by operations through loans or through additional sales of its common stock or through a possible business combination.&#160; There is no assurance that the Company will be successful in raising this additional capital or in achieving profitable operations.&#160; The financial statements do not include any adjustments that might result from the outcome of these uncertainties.</p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-right:-.25in;text-align:justify;line-height:12.0pt'><b>NOTE 5 LOSS PER SHARE</b></p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-.25in;margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin-top:0in;margin-right:-.25in;margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-align:justify;line-height:11.0pt;line-height:12.0pt'>The following data shows the amounts used in computing loss per share: </p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-right:-.5in;line-height:12.0pt'>&#160;&#160;&#160;&#160;&#160; </p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-right:-.5in;line-height:12.0pt'>&nbsp;</p> <table border="0" cellspacing="0" cellpadding="0" width="712" style='width:534.2pt;margin-left:23.4pt;border-collapse:collapse'> <tr style='height:15.0pt'> <td width="224" valign="bottom" style='width:168.05pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="16" valign="bottom" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="203" colspan="3" valign="bottom" style='width:152.15pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'><b>For the Three Months Ended</b></p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'>&nbsp;</p> </td> <td width="254" colspan="3" valign="bottom" style='width:190.4pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'><b>For the Six Months Ended</b></p> </td> </tr> <tr style='height:15.0pt'> <td width="224" valign="bottom" style='width:168.05pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="16" valign="bottom" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="203" colspan="3" valign="bottom" style='width:152.15pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'><b>June 30,</b></p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'>&nbsp;</p> </td> <td width="254" colspan="3" valign="bottom" style='width:190.4pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'><b>June 30,</b></p> </td> </tr> <tr style='height:15.0pt'> <td width="224" valign="bottom" style='width:168.05pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="16" valign="bottom" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:75.9pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'><b>2013</b></p> </td> <td width="18" valign="bottom" style='width:13.45pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'>&nbsp;</p> </td> <td width="84" valign="bottom" style='width:62.8pt;border-top:solid windowtext 1.0pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'><b>2012</b></p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'>&nbsp;</p> </td> <td width="149" valign="bottom" style='width:1.55in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'><b>2013</b></p> </td> <td width="21" valign="bottom" style='width:15.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'>&nbsp;</p> </td> <td width="84" valign="bottom" style='width:63.0pt;border-top:solid windowtext 1.0pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'><b>2012</b></p> </td> </tr> <tr style='height:15.0pt'> <td width="224" valign="bottom" style='width:168.05pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>Loss from continuing operations available to common </p> </td> <td width="16" valign="bottom" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="101" valign="top" style='width:75.9pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="18" valign="top" style='width:13.45pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="84" valign="top" style='width:62.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="149" valign="bottom" style='width:1.55in;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="21" valign="bottom" style='width:15.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="84" valign="bottom" style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> </tr> <tr style='height:10.85pt'> <td width="224" valign="bottom" style='width:168.05pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>shareholders (numerator)</p> </td> <td width="16" valign="bottom" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="101" valign="top" style='width:75.9pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>($&#160; 12,001)</p> </td> <td width="18" valign="top" style='width:13.45pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="84" valign="top" style='width:62.8pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>($&#160; 9,669)</p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="149" valign="bottom" style='width:1.55in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>($&#160; 12,720)</p> </td> <td width="21" valign="bottom" style='width:15.8pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="84" valign="bottom" style='width:63.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>($&#160; 12,275)</p> </td> </tr> <tr style='height:15.0pt'> <td width="224" valign="bottom" style='width:168.05pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="16" valign="bottom" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="101" valign="top" style='width:75.9pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="18" valign="top" style='width:13.45pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="84" valign="top" style='width:62.8pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="149" valign="bottom" style='width:1.55in;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="21" valign="bottom" style='width:15.8pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="84" valign="bottom" style='width:63.0pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> </tr> <tr style='height:15.0pt'> <td width="224" valign="bottom" style='width:168.05pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>Weighted average number of common shares outstanding used in loss per share for the period (denominator)</p> </td> <td width="16" valign="bottom" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="101" valign="top" style='width:75.9pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>1,858,338</p> </td> <td width="18" valign="top" style='width:13.45pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="84" valign="top" style='width:62.8pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>1,858,338</p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="149" valign="bottom" style='width:1.55in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>1,858,338</p> </td> <td width="21" valign="bottom" style='width:15.8pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="84" valign="bottom" style='width:63.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>1,858,338</p> </td> </tr> <tr style='height:15.0pt'> <td width="224" valign="bottom" style='width:168.05pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="16" valign="bottom" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="101" valign="top" style='width:75.9pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="18" valign="top" style='width:13.45pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="84" valign="top" style='width:62.8pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="149" valign="top" style='width:1.55in;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="21" valign="top" style='width:15.8pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="84" valign="top" style='width:63.0pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-.25in;margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;line-height:12.0pt'>Dilutive loss per share was not presented, as the Company had no common stock equivalent shares for all periods presented that would affect the computation of diluted loss per share or the effect would be anti-dilutive.</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-right:-.25in;text-align:center;line-height:12.0pt'>&nbsp;</p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-right:-.25in;text-align:justify;line-height:12.0pt'><b>NOTE 6 - SUBSEQUENT EVENTS</b></p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-right:-.25in;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'>The Company has evaluated subsequent events from the balance sheet date and determined there are no events to disclose through the date the financial statements were issued.&#160; </p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'>&nbsp;</p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:27.0pt;text-align:justify;line-height:12.0pt'><b>Financial Statement Presentation. </b>The accompanying financial statements include the prior operations of Parent from its inception of exploration stage activities on December 31, 1997 through the spin-off of the Company, and include the accounts of the Company from its date of incorporation to the date of the financial statements.</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:27.0pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;text-align:justify;line-height:12.0pt'><b>Development Stage.</b>&#160; On and prior to December 31, 2009, the Company was considered to be an Exploration Stage Company, although, as of December 31, 2009, the Company did not have any current mining exploration, development or production activities on its existing properties.&#160; After transferring its mining assets to its prior majority shareholders in February 2010, the Company became a development stage company.</p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <!--egx--><p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'><b>Condensed Financial Statements.</b> &nbsp;The accompanying financial statements have been prepared by the Company without audit. &nbsp;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 at June 30, 2013 and 2012 and for the periods then ended have been made.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'>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. &nbsp;It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company&#146;s December 31, 2012 audited financial statements. &nbsp;The results of operations for the period ended June 30, 2013 are not necessarily indicative of the operating results for the full year.</p> <!--egx--> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:27.0pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:27.0pt;text-align:justify;line-height:12.0pt'><b>Cash and Cash Equivalents -</b> The Company considers all highly-liquid debt investments purchased with a maturity of three months or less to be cash equivalents.</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-.25in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-3.9pt;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'><b>Income Taxes - </b>The Company adopted the provisions of ASC Topic No. 740, &#147;Accounting for Income Taxes&#148;, on January 1, 2007.&nbsp;&nbsp;As a result of the implementation of ASC Topic No. 740, the Company recognized approximately no increase in the liability for unrecognized tax benefits.&#160; </p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-3.9pt;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-.05in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'>The Company has no tax positions at June 30, 2013 and December 31, 2012 for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility.</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-.05in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-.05in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'>The Company recognizes interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses.&nbsp;&nbsp;During the six month periods ended June 30, 2013 and 2012, the Company recognized no interest and penalties.&nbsp;&nbsp;The Company had no accruals for interest and penalties at June 30, 2013 or December 31, 2012.&#160; All tax years starting with 2009 are open for examination.</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-.05in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-3.9pt;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;line-height:12.0pt'><b>Loss Per Share -</b> The computation of loss per share is based on the weighted average number of common shares outstanding during the period presented in accordance with ASC Topic No. 260, &#147;Earnings Per Share&#148; [<i>See Note 5</i>].</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-3.9pt;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;line-height:12.0pt'>&nbsp;</p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-.05in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'><b>Accounting Estimates</b> <b>-</b> The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amount of revenues and expenses during the reported period.&#160; Actual results could differ from those estimated.</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-.05in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:27.0pt;text-align:justify;line-height:12.0pt'><b>Recently Enacted Accounting Standards - </b>There were no recently enacted accounting standards that the Company expects to have a material effect on its financial statements for future periods.&#160; </p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-right:-.5in;line-height:12.0pt'>&nbsp;</p> <table border="0" cellspacing="0" cellpadding="0" width="712" style='width:534.2pt;margin-left:23.4pt;border-collapse:collapse'> <tr style='height:15.0pt'> <td width="224" valign="bottom" style='width:168.05pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="16" valign="bottom" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="203" colspan="3" valign="bottom" style='width:152.15pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'><b>For the Three Months Ended</b></p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'>&nbsp;</p> </td> <td width="254" colspan="3" valign="bottom" style='width:190.4pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'><b>For the Six Months Ended</b></p> </td> </tr> <tr style='height:15.0pt'> <td width="224" valign="bottom" style='width:168.05pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="16" valign="bottom" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="203" colspan="3" valign="bottom" style='width:152.15pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'><b>June 30,</b></p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'>&nbsp;</p> </td> <td width="254" colspan="3" valign="bottom" style='width:190.4pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'><b>June 30,</b></p> </td> </tr> <tr style='height:15.0pt'> <td width="224" valign="bottom" style='width:168.05pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="16" valign="bottom" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:75.9pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'><b>2013</b></p> </td> <td width="18" valign="bottom" style='width:13.45pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'>&nbsp;</p> </td> <td width="84" valign="bottom" style='width:62.8pt;border-top:solid windowtext 1.0pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'><b>2012</b></p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'>&nbsp;</p> </td> <td width="149" valign="bottom" style='width:1.55in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'><b>2013</b></p> </td> <td width="21" valign="bottom" style='width:15.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'>&nbsp;</p> </td> <td width="84" valign="bottom" style='width:63.0pt;border-top:solid windowtext 1.0pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'><b>2012</b></p> </td> </tr> <tr style='height:15.0pt'> <td width="224" valign="bottom" style='width:168.05pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>Loss from continuing operations available to common </p> </td> <td width="16" valign="bottom" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="101" valign="top" style='width:75.9pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="18" valign="top" style='width:13.45pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="84" valign="top" style='width:62.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="149" valign="bottom" style='width:1.55in;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="21" valign="bottom" style='width:15.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="84" valign="bottom" style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> </tr> <tr style='height:10.85pt'> <td width="224" valign="bottom" style='width:168.05pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>shareholders (numerator)</p> </td> <td width="16" valign="bottom" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="101" valign="top" style='width:75.9pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>($&#160; 12,001)</p> </td> <td width="18" valign="top" style='width:13.45pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="84" valign="top" style='width:62.8pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>($&#160; 9,669)</p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="149" valign="bottom" style='width:1.55in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>($&#160; 12,720)</p> </td> <td width="21" valign="bottom" style='width:15.8pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="84" valign="bottom" style='width:63.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>($&#160; 12,275)</p> </td> </tr> <tr style='height:15.0pt'> <td width="224" valign="bottom" style='width:168.05pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="16" valign="bottom" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="101" valign="top" style='width:75.9pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="18" valign="top" style='width:13.45pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="84" valign="top" style='width:62.8pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="149" valign="bottom" style='width:1.55in;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="21" valign="bottom" style='width:15.8pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="84" valign="bottom" style='width:63.0pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> </tr> <tr style='height:15.0pt'> <td width="224" valign="bottom" style='width:168.05pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>Weighted average number of common shares outstanding used in loss per share for the period (denominator)</p> </td> <td width="16" valign="bottom" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="101" valign="top" style='width:75.9pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>1,858,338</p> </td> <td width="18" valign="top" style='width:13.45pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="84" valign="top" style='width:62.8pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>1,858,338</p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="149" valign="bottom" style='width:1.55in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>1,858,338</p> </td> <td width="21" valign="bottom" style='width:15.8pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="84" valign="bottom" style='width:63.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>1,858,338</p> </td> </tr> <tr style='height:15.0pt'> <td width="224" valign="bottom" style='width:168.05pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="16" valign="bottom" 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The Company was founded for the purpose of continuing the exploration of the mining claims transferred to it by Parent.&#160; In 2006 Parent distributed the outstanding shares of the Company to its shareholders pursuant to a registration statement declared effective by the Securities and Exchange Commission on October 18, 2006.&#160;&#160; </p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;text-align:justify;line-height:12.0pt'>As a part of a change in control of the Company in December 2009 and in consideration of the waiver of debt owed by the Company to the previous controlling shareholders, the Company agreed to a put and call agreement wherein the shareholders were given an irrevocable option to acquire the Company&#146;s right, title and interest in all of the mining claims.&#160; The shareholders also granted to the Company an irrevocable option to require the shareholders to accept title to the mining claims at any time during the option period.&#160; The Company exercised the option on February 8, 2010, and transferred all of its mining assets to the previous controlling shareholders.</p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;text-align:justify;line-height:12.0pt'>The Company currently has no business assets and no business operations.</p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:27.0pt;text-align:justify;line-height:12.0pt'><b>Financial Statement Presentation. </b>The accompanying financial statements include the prior operations of Parent from its inception of exploration stage activities on December 31, 1997 through the spin-off of the Company, and include the accounts of the Company from its date of incorporation to the date of the financial statements.</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:27.0pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;text-align:justify;line-height:12.0pt'><b>Development Stage.</b>&#160; On and prior to December 31, 2009, the Company was considered to be an Exploration Stage Company, although, as of December 31, 2009, the Company did not have any current mining exploration, development or production activities on its existing properties.&#160; After transferring its mining assets to its prior majority shareholders in February 2010, the Company became a development stage company.</p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'><b>Condensed Financial Statements.</b> &nbsp;The accompanying financial statements have been prepared by the Company without audit. &nbsp;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 at June 30, 2013 and 2012 and for the periods then ended have been made.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'>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. &nbsp;It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company&#146;s December 31, 2012 audited financial statements. &nbsp;The results of operations for the period ended June 30, 2013 are not necessarily indicative of the operating results for the full year. </p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:27.0pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:27.0pt;text-align:justify;line-height:12.0pt'><b>Cash and Cash Equivalents -</b> The Company considers all highly-liquid debt investments purchased with a maturity of three months or less to be cash equivalents.</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-.25in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-3.9pt;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'><b>Income Taxes - </b>The Company adopted the provisions of ASC Topic No. 740, &#147;Accounting for Income Taxes&#148;, on January 1, 2007.&nbsp;&nbsp;As a result of the implementation of ASC Topic No. 740, the Company recognized approximately no increase in the liability for unrecognized tax benefits.&#160; </p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-3.9pt;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-.05in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'>The Company has no tax positions at June 30, 2013 and December 31, 2012 for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility.</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-.05in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-.05in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'>The Company recognizes interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses.&nbsp;&nbsp;During the six month periods ended June 30, 2013 and 2012, the Company recognized no interest and penalties.&nbsp;&nbsp;The Company had no accruals for interest and penalties at June 30, 2013 or December 31, 2012.&#160; All tax years starting with 2009 are open for examination.</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-.05in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-3.9pt;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;line-height:12.0pt'><b>Loss Per Share -</b> The computation of loss per share is based on the weighted average number of common shares outstanding during the period presented in accordance with ASC Topic No. 260, &#147;Earnings Per Share&#148; [<i>See Note 5</i>].</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-3.9pt;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-.05in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'><b>Accounting Estimates</b> <b>-</b> The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amount of revenues and expenses during the reported period.&#160; 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Note 1 -- Organization and Summary of Significant Accounting Policies: Loss Per Share (Policies)
6 Months Ended
Jun. 30, 2013
Policies  
Loss Per Share

Loss Per Share - The computation of loss per share is based on the weighted average number of common shares outstanding during the period presented in accordance with ASC Topic No. 260, “Earnings Per Share” [See Note 5].

 

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CONDENSED STATEMENTS OF OPERATIONS (USD $)
3 Months Ended 6 Months Ended 186 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
CONDENSED STATEMENTS OF OPERATIONS          
Revenues $ 0 $ 0 $ 0 $ 0 $ 0
Total Revenues 0 0 0 0 0
General & Administrative 12,001 8,923 12,720 11,529 262,285
Failed acquisition costs         85,758
Total Expenses 12,001 8,923 12,720 11,529 348,043
Loss From Operations (12,001) (8,923) (12,720) (11,529) (348,043)
Interest Income         8,632
Interest Expense         (44)
Warrant Grant   (746)   (746) (2,611)
Gain on Sale of Securities         8,084
Total Other Income & Expense   (746)   (746) 14,061
Loss Before Income Taxes (12,001) (9,669) (12,720) (12,275) (333,982)
Current Income Taxes (Benefit)         (1,765)
Deferred Tax Expense 0 0 0 0 0
Net Loss $ (12,001) $ (9,669) $ (12,720) $ (12,275) $ (332,217)
Loss per Share $ (0.01) $ (0.01) $ (0.01) $ (0.01)   
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Note 5 Loss Per Share
6 Months Ended
Jun. 30, 2013
Notes  
Note 5 Loss Per Share

NOTE 5 LOSS PER SHARE

 

The following data shows the amounts used in computing loss per share:

     

 

 

 

For the Three Months Ended

 

For the Six Months Ended

 

 

June 30,

 

June 30,

 

 

2013

 

2012

 

2013

 

2012

Loss from continuing operations available to common

 

 

 

 

 

 

 

 

shareholders (numerator)

 

($  12,001)

 

($  9,669)

 

($  12,720)

 

($  12,275)

 

 

 

 

 

 

 

 

 

Weighted average number of common shares outstanding used in loss per share for the period (denominator)

 

 

 

 

1,858,338

 

 

 

 

1,858,338

 

1,858,338

 

1,858,338

 

 

 

 

 

 

 

 

 

 

Dilutive loss per share was not presented, as the Company had no common stock equivalent shares for all periods presented that would affect the computation of diluted loss per share or the effect would be anti-dilutive.

 

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Note 1 -- Organization and Summary of Significant Accounting Policies: Accounting Estimates (Policies)
6 Months Ended
Jun. 30, 2013
Policies  
Accounting Estimates

Accounting Estimates - The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amount of revenues and expenses during the reported period.  Actual results could differ from those estimated.

 

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Note 1 -- Organization and Summary of Significant Accounting Policies
6 Months Ended
Jun. 30, 2013
Notes  
Note 1 -- Organization and Summary of Significant Accounting Policies

NOTE 1 -- ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

History and Nature of Business - Tintic Gold Mining Company (“the Company”) was organized under the laws of the State of Nevada on March 8, 2004 as a wholly-owned subsidiary of Tintic Gold Mining Company (“Parent”), a Utah corporation, (now known as KIWA Bio-Tech Products Group Corporation).  The Company was founded for the purpose of continuing the exploration of the mining claims transferred to it by Parent.  In 2006 Parent distributed the outstanding shares of the Company to its shareholders pursuant to a registration statement declared effective by the Securities and Exchange Commission on October 18, 2006.  

 

As a part of a change in control of the Company in December 2009 and in consideration of the waiver of debt owed by the Company to the previous controlling shareholders, the Company agreed to a put and call agreement wherein the shareholders were given an irrevocable option to acquire the Company’s right, title and interest in all of the mining claims.  The shareholders also granted to the Company an irrevocable option to require the shareholders to accept title to the mining claims at any time during the option period.  The Company exercised the option on February 8, 2010, and transferred all of its mining assets to the previous controlling shareholders.

 

The Company currently has no business assets and no business operations.

 

Financial Statement Presentation. The accompanying financial statements include the prior operations of Parent from its inception of exploration stage activities on December 31, 1997 through the spin-off of the Company, and include the accounts of the Company from its date of incorporation to the date of the financial statements.

 

Development Stage.  On and prior to December 31, 2009, the Company was considered to be an Exploration Stage Company, although, as of December 31, 2009, the Company did not have any current mining exploration, development or production activities on its existing properties.  After transferring its mining assets to its prior majority shareholders in February 2010, the Company became a development stage company.

 

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 at June 30, 2013 and 2012 and for the periods then ended 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, 2012 audited financial statements.  The results of operations for the period ended June 30, 2013 are not necessarily indicative of the operating results for the full year.

 

Cash and Cash Equivalents - The Company considers all highly-liquid debt investments purchased with a maturity of three months or less to be cash equivalents.

 

Income Taxes - The Company adopted the provisions of ASC Topic No. 740, “Accounting for Income Taxes”, on January 1, 2007.  As a result of the implementation of ASC Topic No. 740, the Company recognized approximately no increase in the liability for unrecognized tax benefits. 

 

The Company has no tax positions at June 30, 2013 and December 31, 2012 for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility.

 

The Company recognizes interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses.  During the six month periods ended June 30, 2013 and 2012, the Company recognized no interest and penalties.  The Company had no accruals for interest and penalties at June 30, 2013 or December 31, 2012.  All tax years starting with 2009 are open for examination.

 

Loss Per Share - The computation of loss per share is based on the weighted average number of common shares outstanding during the period presented in accordance with ASC Topic No. 260, “Earnings Per Share” [See Note 5].

 

Accounting Estimates - The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amount of revenues and expenses during the reported period.  Actual results could differ from those estimated.

 

Recently Enacted Accounting Standards - There were no recently enacted accounting standards that the Company expects to have a material effect on its financial statements for future periods. 

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Note 3 Related Party Transactions
6 Months Ended
Jun. 30, 2013
Notes  
Note 3 Related Party Transactions

NOTE 3 RELATED PARTY TRANSACTIONS

Related Party Loans – During the six month periods ended June 30, 2013 and 2012, a portion of the expenses of the Company were paid by its majority shareholder.  The payments were recorded as “loans from related party.”  The loans are payable on demand and do not bear interest. 

 

Management Compensation - During the six month periods ended June 30, 2013 and 2012, the Company did not pay any compensation to any officer or director of the Company.

 

Office Space - The Company has not had a need to rent office space.  An officer of the Company allows the Company to use his address, as needed, at no expense to the Company.

 

 

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Note 6 - Subsequent Events
6 Months Ended
Jun. 30, 2013
Notes  
Note 6 - Subsequent Events

NOTE 6 - SUBSEQUENT EVENTS

 

The Company has evaluated subsequent events from the balance sheet date and determined there are no events to disclose through the date the financial statements were issued. 

 

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Note 4 Going Concern
6 Months Ended
Jun. 30, 2013
Notes  
Note 4 Going Concern

NOTE 4 GOING CONCERN

The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of the Company as a going concern.  However, the Company has not yet been successful in establishing profitable operations and, as of June 30, 2013, the Company had no assets.

These factors raise substantial doubt about the ability of the Company to continue as a going concern.  In this regard, management is proposing to raise any necessary additional funds not provided by operations through loans or through additional sales of its common stock or through a possible business combination.  There is no assurance that the Company will be successful in raising this additional capital or in achieving profitable operations.  The financial statements do not include any adjustments that might result from the outcome of these uncertainties.

XML 27 R10.xml IDEA: Note 5 Loss Per Share 2.4.0.8000100 - Disclosure - Note 5 Loss Per Sharetruefalsefalse1false falsefalseD130101_130630http://www.sec.gov/CIK0001301839duration2013-01-01T00:00:002013-06-30T00:00:001true 1us-gaap_DisclosureTextBlockAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse02false 2us-gaap_EarningsPerShareTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<!--egx--><p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-right:-.25in;text-align:justify;line-height:12.0pt'><b>NOTE 5 LOSS PER SHARE</b></p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-top:0in;margin-right:-.25in;margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin-top:0in;margin-right:-.25in;margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-align:justify;line-height:11.0pt;line-height:12.0pt'>The following data shows the amounts used in computing loss per share: </p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-right:-.5in;line-height:12.0pt'>&#160;&#160;&#160;&#160;&#160; </p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-right:-.5in;line-height:12.0pt'>&nbsp;</p> <table border="0" cellspacing="0" cellpadding="0" width="712" style='width:534.2pt;margin-left:23.4pt;border-collapse:collapse'> <tr style='height:15.0pt'> <td width="224" valign="bottom" style='width:168.05pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="16" valign="bottom" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="203" colspan="3" valign="bottom" style='width:152.15pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'><b>For the Three Months Ended</b></p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'>&nbsp;</p> </td> <td width="254" colspan="3" valign="bottom" style='width:190.4pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'><b>For the Six Months Ended</b></p> </td> </tr> <tr style='height:15.0pt'> <td width="224" valign="bottom" style='width:168.05pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="16" valign="bottom" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="203" colspan="3" valign="bottom" style='width:152.15pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'><b>June 30,</b></p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'>&nbsp;</p> </td> <td width="254" colspan="3" valign="bottom" style='width:190.4pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'><b>June 30,</b></p> </td> </tr> <tr style='height:15.0pt'> <td width="224" valign="bottom" style='width:168.05pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="16" valign="bottom" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:75.9pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'><b>2013</b></p> </td> <td width="18" valign="bottom" style='width:13.45pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'>&nbsp;</p> </td> <td width="84" valign="bottom" style='width:62.8pt;border-top:solid windowtext 1.0pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'><b>2012</b></p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'>&nbsp;</p> </td> <td width="149" valign="bottom" style='width:1.55in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'><b>2013</b></p> </td> <td width="21" valign="bottom" style='width:15.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'>&nbsp;</p> </td> <td width="84" valign="bottom" style='width:63.0pt;border-top:solid windowtext 1.0pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:center'><b>2012</b></p> </td> </tr> <tr style='height:15.0pt'> <td width="224" valign="bottom" style='width:168.05pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>Loss from continuing operations available to common </p> </td> <td width="16" valign="bottom" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="101" valign="top" style='width:75.9pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="18" valign="top" style='width:13.45pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="84" valign="top" style='width:62.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="149" valign="bottom" style='width:1.55in;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="21" valign="bottom" style='width:15.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="84" valign="bottom" style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> </tr> <tr style='height:10.85pt'> <td width="224" valign="bottom" style='width:168.05pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>shareholders (numerator)</p> </td> <td width="16" valign="bottom" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="101" valign="top" style='width:75.9pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>($&#160; 12,001)</p> </td> <td width="18" valign="top" style='width:13.45pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="84" valign="top" style='width:62.8pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>($&#160; 9,669)</p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="149" valign="bottom" style='width:1.55in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>($&#160; 12,720)</p> </td> <td width="21" valign="bottom" style='width:15.8pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="84" valign="bottom" style='width:63.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>($&#160; 12,275)</p> </td> </tr> <tr style='height:15.0pt'> <td width="224" valign="bottom" style='width:168.05pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="16" valign="bottom" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="101" valign="top" style='width:75.9pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="18" valign="top" style='width:13.45pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="84" valign="top" style='width:62.8pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="149" valign="bottom" style='width:1.55in;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="21" valign="bottom" style='width:15.8pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="84" valign="bottom" style='width:63.0pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> </tr> <tr style='height:15.0pt'> <td width="224" valign="bottom" style='width:168.05pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>Weighted average number of common shares outstanding used in loss per share for the period (denominator)</p> </td> <td width="16" valign="bottom" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="101" valign="top" style='width:75.9pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>1,858,338</p> </td> <td width="18" valign="top" style='width:13.45pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="84" valign="top" style='width:62.8pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>1,858,338</p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="149" valign="bottom" style='width:1.55in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>1,858,338</p> </td> <td width="21" valign="bottom" style='width:15.8pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="84" valign="bottom" style='width:63.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>1,858,338</p> </td> </tr> <tr 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BALANCE SHEETS PARENTHETICAL (USD $)
Jun. 30, 2013
Dec. 31, 2012
BALANCE SHEETS PARENTHETICAL    
Common stock par value $ 0.001 $ 0.001
Common stock shares authorized 50,000,000 50,000,000
Common stock shares issued 1,858,338 1,858,338
Common stock shares outstanding 1,858,338 1,858,338
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Note 1 -- Organization and Summary of Significant Accounting Policies: Basis of Accounting, Policy (Policies)
6 Months Ended
Jun. 30, 2013
Policies  
Basis of Accounting, Policy

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 at June 30, 2013 and 2012 and for the periods then ended 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, 2012 audited financial statements.  The results of operations for the period ended June 30, 2013 are not necessarily indicative of the operating results for the full year.

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style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="18" valign="top" style='width:13.45pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="84" valign="top" style='width:62.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="149" valign="bottom" style='width:1.55in;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="21" valign="bottom" style='width:15.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="84" valign="bottom" style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> </tr> <tr style='height:10.85pt'> <td width="224" valign="bottom" style='width:168.05pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>shareholders (numerator)</p> </td> <td width="16" valign="bottom" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="101" valign="top" style='width:75.9pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>($&#160; 12,001)</p> </td> <td width="18" valign="top" style='width:13.45pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="84" valign="top" style='width:62.8pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>($&#160; 9,669)</p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="149" valign="bottom" style='width:1.55in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>($&#160; 12,720)</p> </td> <td width="21" valign="bottom" style='width:15.8pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="84" valign="bottom" style='width:63.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:10.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>($&#160; 12,275)</p> </td> </tr> <tr style='height:15.0pt'> <td width="224" valign="bottom" style='width:168.05pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="16" valign="bottom" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="101" valign="top" style='width:75.9pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="18" valign="top" style='width:13.45pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="84" valign="top" style='width:62.8pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="149" valign="bottom" style='width:1.55in;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="21" valign="bottom" style='width:15.8pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="84" valign="bottom" style='width:63.0pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> </tr> <tr style='height:15.0pt'> <td width="224" valign="bottom" style='width:168.05pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>Weighted average number of common shares outstanding used in loss per share for the period (denominator)</p> </td> <td width="16" valign="bottom" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="101" valign="top" style='width:75.9pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>1,858,338</p> </td> <td width="18" valign="top" style='width:13.45pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="84" valign="top" style='width:62.8pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>1,858,338</p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="149" valign="bottom" style='width:1.55in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>1,858,338</p> </td> <td width="21" valign="bottom" style='width:15.8pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>&nbsp;</p> </td> <td width="84" valign="bottom" style='width:63.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right'>1,858,338</p> </td> </tr> <tr style='height:15.0pt'> <td width="224" valign="bottom" style='width:168.05pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="16" valign="bottom" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="101" valign="top" style='width:75.9pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="18" valign="top" style='width:13.45pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="84" valign="top" style='width:62.8pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="149" valign="top" style='width:1.55in;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="21" valign="top" style='width:15.8pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> <td width="84" valign="top" style='width:63.0pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line'>&nbsp;</p> </td> </tr> </table>falsefalsefalsenonnum:textBlockItemTypenaTabular disclosure of the numerators and the denominators of the basic and diluted per-share (or per-unit) computations for income from continuing operations, including the effect that has been given to preferred dividends.No definition available.false0falseNote 5 Loss Per Share: Schedule of Loss per Share (Tables)UnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://tmggxbrl.com/20130630/role/idr_DisclosureNote5LossPerShareScheduleOfLossPerShareTables12 XML 35 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
STATEMENTS OF CASH FLOWS (USD $)
6 Months Ended 186 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
STATEMENTS OF CASH FLOWS      
Net loss $ (12,720) $ (12,275) $ (332,217)
Non-cash stock issued for services rendered     97,846
Gain on sale of securities     (8,084)
Warrant Grant   746 2,611
(Decrease) increase in accounts payable 1,831 12 6,331
Payment of expenses by related party     33,975
Decrease in income taxes payable     (565)
Net cash used in operating activities (10,889) (11,517) (200,103)
Purchase of securities     (7,609)
Proceeds from sale of securities     23,960
Net cash flows provided by investing activities     16,351
Proceeds from note payable - related party     3,501
Proceeds from loans - related party 10,889 11,517 92,878
Proceeds from sale of common stock     55,000
Net cash flows provided by financing activities 10,889 11,517 151,379
Net decrease in cash     (32,373)
Cash and cash equivalents at beginning of period 0 0 32,373
Cash and cash equivalents at end of period 0 0 0
Interest 0 0 0
Income taxes     $ 3,565
XML 36 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
BALANCE SHEETS (USD $)
Jun. 30, 2013
Dec. 31, 2012
BALANCE SHEETS    
Cash $ 0 $ 0
Total Assets 0 0
Accounts payable and accrued expense 6,478 4,647
Loan from related party 68,532 57,643
Total Current Liabilities 75,010 62,290
Common stock, $.001 par value, 50,000,000 shares authorized, 1,858,338 issued and outstanding 1,858 1,858
Capital in excess of par value 255,349 255,349
Deficit accumulated during the development stage (332,217) (319,497)
Total Stockholders' Equity (Deficit) (75,010) (62,290)
Total Liabilities and Stockholders' Equity (Deficit) $ 0 $ 0
XML 37 R7.xml IDEA: Note 2 - Capital Stock 2.4.0.8000070 - Disclosure - Note 2 - Capital Stocktruefalsefalse1false falsefalseD130101_130630http://www.sec.gov/CIK0001301839duration2013-01-01T00:00:002013-06-30T00:00:001true 1us-gaap_DisclosureTextBlockAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse02false 2us-gaap_StockholdersEquityNoteDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<!--egx--><p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-right:-.25in;text-align:justify;line-height:12.0pt'><b>NOTE 2 - CAPITAL STOCK</b></p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-right:-.25in;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'><b>Common Stock - </b>The Company has authorized 50,000,000 shares of common stock with a par value of $.001.&#160; </p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'><b>Warrants - </b>In conjunction with the change in control in December 2009, the Company exchanged common stock purchase warrants in exchange for 270,584 shares of the Company&#146;s common stock, which shares were being held as treasury shares.&#160; The common stock purchase warrants allowed the holders to acquire 0.4% of the outstanding common stock of the Company within two years from the date of issuance of said purchase warrants.&#160; The warrants were valued at $.20 per share given up or $54,117.</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'>In December 2011 the termination date of the warrants was extended to June 18, 2012.&#160; The fair value of $1,119 for the six month extension was calculated using a Black-Scholes option pricing model with the following assumptions:</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'>&nbsp;</p> <table border="1" cellspacing="0" cellpadding="0" style='margin-left:77.4pt;border-collapse:collapse;border:none'> <tr align="left"> <td width="270" valign="bottom" style='width:202.5pt;border:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;line-height:12.0pt'>Expected life</p> </td> <td width="120" valign="bottom" style='width:1.25in;border:solid windowtext 1.0pt;border-left:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right;line-height:12.0pt'>0.5 years</p> </td> </tr> <tr align="left"> <td width="270" valign="bottom" style='width:202.5pt;border:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;line-height:12.0pt'>Expected volatility</p> </td> <td width="120" valign="bottom" style='width:1.25in;border-top:none;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right;line-height:12.0pt'>1%</p> </td> </tr> <tr align="left"> <td width="270" valign="bottom" style='width:202.5pt;border:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;line-height:12.0pt'>Risk-free interest rate</p> </td> <td width="120" valign="bottom" style='width:1.25in;border-top:none;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right;line-height:12.0pt'>1.46%</p> </td> </tr> <tr align="left"> <td width="270" valign="bottom" style='width:202.5pt;border:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;line-height:12.0pt'>Expected dividend yield</p> </td> <td width="120" valign="bottom" style='width:1.25in;border-top:none;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right;line-height:12.0pt'>0.00%</p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'>In June 2012 the termination date of the warrants was extended to December 18, 2012.&#160; The fair value of $746 for the six month extension was calculated using a Black-Scholes option pricing model with the following assumptions:</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'>&nbsp;</p> <table border="1" cellspacing="0" cellpadding="0" style='margin-left:77.4pt;border-collapse:collapse;border:none'> <tr align="left"> <td width="270" valign="bottom" style='width:202.5pt;border:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;line-height:12.0pt'>Expected life</p> </td> <td width="120" valign="bottom" style='width:1.25in;border:solid windowtext 1.0pt;border-left:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right;line-height:12.0pt'>0.5 years</p> </td> </tr> <tr align="left"> <td width="270" valign="bottom" style='width:202.5pt;border:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;line-height:12.0pt'>Expected volatility</p> </td> <td width="120" valign="bottom" style='width:1.25in;border-top:none;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right;line-height:12.0pt'>1%</p> </td> </tr> <tr align="left"> <td width="270" valign="bottom" style='width:202.5pt;border:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;line-height:12.0pt'>Risk-free interest rate</p> </td> <td width="120" valign="bottom" style='width:1.25in;border-top:none;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right;line-height:12.0pt'>0.625%</p> </td> </tr> <tr align="left"> <td width="270" valign="bottom" style='width:202.5pt;border:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;line-height:12.0pt'>Expected dividend yield</p> </td> <td width="120" valign="bottom" style='width:1.25in;border-top:none;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right;line-height:12.0pt'>0.00%</p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'>In December 2012 the termination date of the warrants was extended to June 18, 2013.&#160; The fair value of $746 for the six month extension was calculated using a Black-Scholes option pricing model with the following assumptions:</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'>&nbsp;</p> <table border="1" cellspacing="0" cellpadding="0" style='margin-left:77.4pt;border-collapse:collapse;border:none'> <tr align="left"> <td width="270" valign="bottom" style='width:202.5pt;border:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;line-height:12.0pt'>Expected life</p> </td> <td width="120" valign="bottom" style='width:1.25in;border:solid windowtext 1.0pt;border-left:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right;line-height:12.0pt'>0.5 years</p> </td> </tr> <tr align="left"> <td width="270" valign="bottom" style='width:202.5pt;border:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;line-height:12.0pt'>Expected volatility</p> </td> <td width="120" valign="bottom" style='width:1.25in;border-top:none;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right;line-height:12.0pt'>1%</p> </td> </tr> <tr align="left"> <td width="270" valign="bottom" style='width:202.5pt;border:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;line-height:12.0pt'>Risk-free interest rate</p> </td> <td width="120" valign="bottom" style='width:1.25in;border-top:none;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right;line-height:12.0pt'>0.77%</p> </td> </tr> <tr align="left"> <td width="270" valign="bottom" style='width:202.5pt;border:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;line-height:12.0pt'>Expected dividend yield</p> </td> <td width="120" valign="bottom" style='width:1.25in;border-top:none;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:right;line-height:12.0pt'>0.00%</p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;margin-left:.25in;text-align:justify;line-height:12.0pt'>&nbsp;</p>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. 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Note 5 Loss Per Share: Schedule of Loss per Share (Details) (USD $)
3 Months Ended 6 Months Ended 186 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Details          
Loss Before Income Taxes $ (12,001) $ (9,669) $ (12,720) $ (12,275) $ (333,982)
Weighted Average Number of Shares Outstanding, Basic 1,858,338 1,858,338 1,858,338 1,858,338  
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Note 1 -- Organization and Summary of Significant Accounting Policies: Development Stage Enterprise General Disclosures (Policies)
6 Months Ended
Jun. 30, 2013
Policies  
Development Stage Enterprise General Disclosures

Development Stage.  On and prior to December 31, 2009, the Company was considered to be an Exploration Stage Company, although, as of December 31, 2009, the Company did not have any current mining exploration, development or production activities on its existing properties.  After transferring its mining assets to its prior majority shareholders in February 2010, the Company became a development stage company.

 

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Note 1 -- Organization and Summary of Significant Accounting Policies: Income Taxes (Policies)
6 Months Ended
Jun. 30, 2013
Policies  
Income Taxes

Income Taxes - The Company adopted the provisions of ASC Topic No. 740, “Accounting for Income Taxes”, on January 1, 2007.  As a result of the implementation of ASC Topic No. 740, the Company recognized approximately no increase in the liability for unrecognized tax benefits. 

 

The Company has no tax positions at June 30, 2013 and December 31, 2012 for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility.

 

The Company recognizes interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses.  During the six month periods ended June 30, 2013 and 2012, the Company recognized no interest and penalties.  The Company had no accruals for interest and penalties at June 30, 2013 or December 31, 2012.  All tax years starting with 2009 are open for examination.

 

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Note 1 -- Organization and Summary of Significant Accounting Policies: Business Description and Basis of Presentation (Policies)
6 Months Ended
Jun. 30, 2013
Policies  
Business Description and Basis of Presentation

Financial Statement Presentation. The accompanying financial statements include the prior operations of Parent from its inception of exploration stage activities on December 31, 1997 through the spin-off of the Company, and include the accounts of the Company from its date of incorporation to the date of the financial statements.

 

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Note 2 - Capital Stock
6 Months Ended
Jun. 30, 2013
Notes  
Note 2 - Capital Stock

NOTE 2 - CAPITAL STOCK

 

Common Stock - The Company has authorized 50,000,000 shares of common stock with a par value of $.001. 

 

Warrants - In conjunction with the change in control in December 2009, the Company exchanged common stock purchase warrants in exchange for 270,584 shares of the Company’s common stock, which shares were being held as treasury shares.  The common stock purchase warrants allowed the holders to acquire 0.4% of the outstanding common stock of the Company within two years from the date of issuance of said purchase warrants.  The warrants were valued at $.20 per share given up or $54,117.

 

In December 2011 the termination date of the warrants was extended to June 18, 2012.  The fair value of $1,119 for the six month extension was calculated using a Black-Scholes option pricing model with the following assumptions:

 

Expected life

0.5 years

Expected volatility

1%

Risk-free interest rate

1.46%

Expected dividend yield

0.00%

 

In June 2012 the termination date of the warrants was extended to December 18, 2012.  The fair value of $746 for the six month extension was calculated using a Black-Scholes option pricing model with the following assumptions:

 

Expected life

0.5 years

Expected volatility

1%

Risk-free interest rate

0.625%

Expected dividend yield

0.00%

 

In December 2012 the termination date of the warrants was extended to June 18, 2013.  The fair value of $746 for the six month extension was calculated using a Black-Scholes option pricing model with the following assumptions:

 

Expected life

0.5 years

Expected volatility

1%

Risk-free interest rate

0.77%

Expected dividend yield

0.00%

 

 

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Note 1 -- Organization and Summary of Significant Accounting Policies: Recently Enacted Accounting Standards (Policies)
6 Months Ended
Jun. 30, 2013
Policies  
Recently Enacted Accounting Standards

Recently Enacted Accounting Standards - There were no recently enacted accounting standards that the Company expects to have a material effect on its financial statements for future periods. 

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Note 1 -- Organization and Summary of Significant Accounting Policies: Cash and Cash Equivilents (Policies)
6 Months Ended
Jun. 30, 2013
Policies  
Cash and Cash Equivilents

 

Cash and Cash Equivalents - The Company considers all highly-liquid debt investments purchased with a maturity of three months or less to be cash equivalents.

 

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Note 2 - Capital Stock: Warrants (Details) (USD $)
1 Months Ended
Dec. 31, 2012
Jun. 30, 2012
Dec. 31, 2011
Dec. 31, 2009
Details        
common stock shares exchanged       270,584
Purchase warrant terms       The common stock purchase warrants allowed the holders to acquire 0.4% of the outstanding common stock of the Company within two years from the date of issuance of said purchase warrants.
Purchase warrants value per share       $ 0.20
Purchase warrants value       $ 54,117
Fair Value Adjustment of Warrants $ 746 $ 746 $ 1,119  
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Note 5 Loss Per Share: Schedule of Loss per Share (Tables)
6 Months Ended
Jun. 30, 2013
Tables/Schedules  
Schedule of Loss per Share

 

 

 

For the Three Months Ended

 

For the Six Months Ended

 

 

June 30,

 

June 30,

 

 

2013

 

2012

 

2013

 

2012

Loss from continuing operations available to common

 

 

 

 

 

 

 

 

shareholders (numerator)

 

($  12,001)

 

($  9,669)

 

($  12,720)

 

($  12,275)

 

 

 

 

 

 

 

 

 

Weighted average number of common shares outstanding used in loss per share for the period (denominator)

 

 

 

 

1,858,338

 

 

 

 

1,858,338

 

1,858,338

 

1,858,338

 

 

 

 

 

 

 

 

 

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Document and Entity Information
6 Months Ended
Jun. 30, 2013
Jul. 29, 2013
Document and Entity Information    
Entity Registrant Name TINTIC GOLD MINING CO  
Document Type 10-Q  
Document Period End Date Jun. 30, 2013  
Amendment Flag false  
Entity Central Index Key 0001301839  
Current Fiscal Year End Date --12-31  
Entity Common Stock, Shares Outstanding   1,858,338
Entity Filer Category Smaller Reporting Company  
Entity Current Reporting Status Yes  
Entity Voluntary Filers No  
Entity Well-known Seasoned Issuer No  
Document Fiscal Year Focus 2013  
Document Fiscal Period Focus Q2  
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Note 2 - Capital Stock: Common Stock (Details) (USD $)
Jun. 30, 2013
Dec. 31, 2012
Details    
Common stock shares authorized 50,000,000 50,000,000
Common stock par value $ 0.001 $ 0.001
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