6-K 1 june3020016k.txt QUARTERLY STATEMENT FOR JUNE 30, 2001 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 6-K SEC File No. 0-26447 Report of Foreign Private Issuer Pursuant to Rules 13a-16 and 15d-16 under the Securities Exchange Act of 1934 For the three month period ended June 30, 2001. LEADER MINING INTERNATIONAL, INC. --------------------------------- (Translation of registrant's name into English) 400 - Fifth Avenue, SW., Suite #810, Calgary, Alberta T2P 0L6 ------------------------------------------------------------ (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F X Form 40-F _______ Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes X No _______ If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b); 82-2467
LEADER MINING INTERNATIONAL INC. INTERIM FINANCIAL STATEMENTS THREE MONTHS ENDED JUNE 30, 2001 BALANCE SHEET ( Unaudited ) As at June 30, 2001 (expressed in Canadian dollars) As at As at ASSETS June 30, 2001 March 31, 2001 ------ -------------- --------------- CURRENT ASSETS Cash and Short -Term Deposits $ 29,171 $ 303,216 Accounts Receivable 30,429 58,991 Shares Subscription Receivable 500,000 0 Deposits and Prepaid Expense 138,761 114,717 -------------- --------------- 698,361 476,924 CAPITAL ASSETS 19,245 19,245 MINERAL PROPERTIES AND DEFERRED EXPLORATION COSTS 7,909,238 7,862,416 -------------- --------------- $ 8,626,844 $ 8,358,585 ============== =============== LIABILITIES ----------- CURRENT LIABILITIES Accounts Payable and Accrued Liabilities $ 99,286 $ 196,437 DUE TO RELATED PARTIES 161,090 177,089 -------------- --------------- $ 260,376 $ 373,526 -------------- --------------- SHAREHOLDERS' EQUITY -------------------- CAPITAL STOCK $ 22,414,840 $ 21,914,840 DEFICIT (14,048,372) (13,929,781) -------------- --------------- 8,366,468 7,985,059 -------------- --------------- $ 8,626,844 $ 8,358,585 ============== ===============
2
STATEMENT OF CASH FLOWS ( Unaudited ) Three Months ended June 30, 2001 (expressed in Canadian dollars) 2001 2000 ------------ ------------- OPERATING ACTIVITIES Net loss for the period $ (118,592) $ (92,561) Change in non-cash working capital balances Accounts Receivable 28,562 0 Deposits and Prepaid Expenses (24,043) (145,182) Accounts Payable and Accrued Liabilities (97,149) (3,958) ------------- ------------- (211,222) (241,702) ------------ ------------- FINANCING Issuance of Common Shares 0 3,500 Advances from Shareholders and Directors 0 257,142 Repayments to Shareholders and Directors (16,000) 0 ------------- ------------- (16,000) 260,642 ------------- ------------- INVESTING Mineral Properties and Deferred Exploration Expenditures (46,822) 0 Purchase of Capital Assets 0 (680) ------------- ------------- (46,822) (680) ------------- ------------- INCREASE (DECREASE) IN CASH (274,045) 18,260 CASH AND SHORT-TERM DEPOSITS, BEGINNING OF PERIOD 303,216 211,124 ------------- ------------- CASH AND SHORT-TERM DEPOSITS, END OF PERIOD $ 29,171 $ 229,384 ============= ============= CASH & SHORT-TERM DEPOSITS ARE COMPRISED OF: Cash $ 29,171 $ 11,964 Short-term deposits 0 217,420 ------------- ------------- $ 29,171 $ 229,384 ============= =============
3
STATEMENT OF LOSS AND DEFICIT ( Unaudited ) Three months ended June 30, 2001 (expressed in Canadian dollars) 2001 2000 -------------- -------------- REVENUE Management Fees $ 0 $ 15,858 Equipment Rental Income 0 10,800 Interest 220 3,196 -------------- -------------- Total Revenue 220 29,854 EXPENSES Exploration Expenditures 0 8,087 Amortization (1,177) 0 General & Administrative Expense 119,990 114,328 -------------- -------------- Total Expense 118,813 122,415 NET LOSS FOR THE PERIOD 118,592 (92,561) -------------- -------------- DEFICIT, BEGINNING OF PERIOD (13,929,780) (12,744,512) -------------- -------------- DEFICIT, END OF PERIOD $(13,811,187) $(12,837,073) ============== ============== LOSS PER SHARE ( NOTE 2 ) $0.01 $0.01 ============== ==============
4 LEADER MINING INTERNATIONAL INC. NOTES TO FINANCIAL STATEMENTS THREE MONTHS ENDED JUNE 30, 2001 1. BASIS OF PRESENTATION These financial statements have been prepared in accordance with generally accepted accounting principles following the same accounting policies and methods of computation as the financial statements for the fiscal year ended March 31, 2001 and should be read in conjunction with the March 31, 2001 annual financial statements. 2. LOSS PER SHARE Effective January 1, 2001, a new accounting standard related to calculation and disclosure of earnings per share was established. All earnings per share information and disclosures presented in these interim financial statements conform to this new standard. Adoption of the new standard had no effect on previously reported per share amounts. Per share information is calculated on the basis of the weighted average number of common shares outstanding during the period. 5 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. Leader Mining International, Inc. October 23, 2001 by:/s/Jasi Nikhanj Jasi Nikhanj, President 6