-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Wt9+HWRV6owUmzxOvaaH2CL8Ctv9Yxi/NoSQ2gALXbRb6hZV2fwwHZddeRpILMLY nBJ+FtwktdWJrLYlHmjOmg== 0000316704-97-000004.txt : 19970815 0000316704-97-000004.hdr.sgml : 19970815 ACCESSION NUMBER: 0000316704-97-000004 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970630 FILED AS OF DATE: 19970814 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACK DOME ENERGY CORP CENTRAL INDEX KEY: 0000316704 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 840808397 STATE OF INCORPORATION: CO FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-09394 FILM NUMBER: 97660827 BUSINESS ADDRESS: STREET 1: 1536 COLE BLVD. , STE #325 STREET 2: SUITE 325 CITY: GOLDEN STATE: CO ZIP: 80401 BUSINESS PHONE: 303-231-9059 MAIL ADDRESS: STREET 1: 1536 COLE BLVD STREET 2: SUITE 325 CITY: DENVER STATE: CO ZIP: 80401 10-Q 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10Q QUARTERLY REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For Quarter Ended June 30, 1997 Commission File Number 0-9394 ----------------------------------- BLACK DOME ENERGY CORPORATION ------------------------------------------------------ (Exact name of registrant as specified in its charter) Colorado 84-0808397 ----------------------------- ------------- (State or other jurisdiction of (IRS Employer incorporation or organization) Identification No.) 1536 Cole Blvd., Ste #325 Golden, Colorado 80401 ------------------------------- ---------- (Address of principal executive (Zip code) offices) Registrant's telephone number, including area code: (303)231-9059 ---------------- Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. __X__ Yes _____ No At June 30, 1997, 73,755 shares of no par value common stock (the registrant's only class of voting stock) were outstanding. Page 1 BLACK DOME ENERGY CORPORATION ----------------------------- INDEX TO FORM 10-Q ------------------ JUNE 30, 1997 ------------- PART I - FINANCIAL INFORMATION PAGE ---- Item 1. Financial Statements - ----------------------------- Condensed balance sheet 3 at June 30, 1997 and December 31, 1996. Statement of operations for 5 for the six-month periods ended June 30, 1997 and 1996 Statement of cash flows 6 for the six-month periods ended June 30, 1997 and 1996 Notes to Financial Statements 7 PART II - OTHER INFORMATION 8 ------------------------------ The financial information furnished in this Form 10-Q reflects all adjustments which are, in the opinion of management, necessary for a fair presentation of the financial position of the Company and results of its operations for the interim periods presented. Page 2 PART I- FINANCIAL INFORMATION - ----------------------------- Item 1. Financial Statements - ----------------------------- BLACK DOME ENERGY CORPORATION - ----------------------------- CONDENSED BALANCE SHEET - -----------------------
June 30, December 31, 1997 1996 --------- ---------- (Unaudited) (Note) ASSETS ------ Current Assets: Cash $ < 4,980> $ 128,220 Cash, Money Market Fund 864,912 -- Accounts Receivable 103,657 -------- -------- Total current assets $ 859,932 $ 231,877 Property and equipment, at cost: Oil and gas properties - net (successful efforts method) -- 161,511 Materials and supplies -- 9,772 --------- -------- 171,283 Deferred income tax assets -- 300,000 Total assets $ 859,932 $ 703,160 ========== ==========
Note: The balance sheet at December 31, 1996 has been taken from the audited financial statements at that date, and condensed. Page 3 BLACK DOME ENERGY CORPORATION ----------------------------- CONDENSED BALANCE SHEET (CONT'D) --------------------------------
June 30, December 31, 1997 1996 --------- ------------ (Unaudited) (Note) LIABILITIES AND STOCKHOLDER'S EQUITY ------------------------------------ Current Liabilities: Accounts Payable $ 24,308 $ 99,431 Deferred Compensation -- 132,100 ---------- ---------- Total Current Liabilities 24,308 231,531 Stockholders' Equity: Common stock; no par value; authorized 10,000,000 shares, issued and outstanding 73,755 2,188,353 2,188,353 Retained earnings (deficit) <1,357,729> <1,716,724> --------- --------- Total stockholders' equity 830,624 471,629 --------- --------- Total liabilities and stockholders' equity $ 854,932 $ 703,160 =========== ===========
Note: The balance sheet at December 31, 1996 has been taken from the audited financial statements at that date, and condensed. Page 4 BLACK DOME ENERGY CORPORATION - ----------------------------- CONDENSED STATEMENT OF OPERATIONS - ---------------------------------
Six Months Ended June 30, 1997 1996 ---------------------- (Unaudited) Income from discontinued operations $ -- $< 73,902> --------- -------- Expenses during liquidation period <78,500> -- Gain on sale of oil and gas properties 742,484 -- Less income taxes 300,000 -- -------- ------- $ 442,484 -- -------- ------- Net income $ 363,984 $< 73,902> -------- ------- Earnings per share $4.94 <$1.01> ========= ========
At the December 1996 Stockholders' Meeting, the stockholders approved the sale of the Company's oil and gas properties and the liquidation of the Company. In February 1997, the Company completed the sale of all its properties effective December 31, 1996. The Company has discontinued operating and plans to liquidate in the next calendar year. Page 5 BLACK DOME ENERGY CORPORATION - ----------------------------- STATEMENT OF CASH FLOWS - -----------------------
Six Months Ended June 30, 1997 1996 --------------------- (Unaudited) Cash flows from operating activities: Net income $ 363,994 $< 73,902> Depreciation, depletion, amortization -- 130,250 Less gain on sale of oil and gas properties <742,484> -- Changes in assets and liabilities: decrease in accounts receivables 103,657 < 1,796> Increase in accounts payable < 75,033> 32 Decrease in deferred tax asset 300,000 -- Increase in deferred comp. <132,100> 62,500 Increase in note payable -- < 31,690> ------- ------- Net cash provided (used) by <181,966> 85,394 operating activities ------- ------- Cash flows from investing activities: Proceeds from sale of oil and gas properties 921,250 -- Purchase of capital items < 7,572> <13,640> ------- ------ Net cash (used in) provided by investing activities 913,678 <13,640> ------- ------ Cash flows from financing activities: Increase (decrease) in cash 731,712 71,754 Cash balance at beginning of period 128,220 63,008 ------- ------ Cash balance at end of period $ 859,932 $ 134,762 ========= =========
Page 6 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. General - ------- This discussion and analysis covers variations in the balance sheets December 31, 1996, and June 30, 1997, and in the statements of operations and changes in cash flows for the six-month periods ended June 30, 1997 and 1996. Liquidity and Capital Resources - ------------------------------- As a result of the sale of all the Corporation's oil and gas properties, working capital at June 30, 1997 was $830,624 compared to the $346 at December 31, 1996. Results of Operations - ---------------------- The Corporation sold all of its operating oil and gas properties effective December 31, 1996 and ceased operations. Costs incurred in the six months ended June 30, 1997 resulted mostly from administrative costs incurred in the closing of operations. Page 7 PART II - OTHER INFORMATION Item 6. Exhibits and Reports on Form 8-K. - ------------------------------------------ (a) Exhibits: None (b) Reports: None SIGNATURES ---------- Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on behalf of the undersigned thereunto duly authorized. (Registrant) BLACK DOME ENERGY CORPORATION (Date) August 8, 1997 BY:(Signature) /s/Edgar J. Huff (Name and Title) Edgar J. Huff, President and Chief Financial Officer Page 8 EX-27 2
5 3-MOS DEC-31-1996 JUN-30-1997 859,932 0 0 0 0 859,932 0 0 859,932 24,308 0 0 0 73,755 0 854,932 0 0 0 78,500 0 0 0 663,984 300,000 0 0 742,484 0 363,984 4.94 4.94
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