Balance Sheet

Original Sixteen to One Mine, Inc. is a distinct company. It is the only operating company of its kind remaining in the United States. Management knows the assets of the Company are understated due to the age of acquisition. Exploration and development expenses are not capitalized. The Company celebrated its 100-year anniversary on Oct. 9, 2011. It is the oldest gold mining corporation in the United States. Gold inventory is recorded at spot price despite proven additional value.

No value is recorded on the balance sheet for timber. The company owns 470 acres of prime forested timberland. No value is recorded on the balance sheet for the Company owned water- rights. Reduced value is recorded on the balance sheet for buildings, equipment and land. No value is recorded on the balance sheet for marketable aggregate and decorative stone currently stockpiled. No value is recorded on the balance sheet for goodwill. Fixed assets are recorded at historic cost less depreciation.

(A) Comparisons of 2020 with 2019.

Balance Sheet Comparisons

Assets:

For the one-year period ended December 31, 2020, compared to the one-year period ended December 31, 2019, cash increased by $17,389 (392%) due to cash flow variations. Accounts receivable increased by $250 (.5%).

For the one-year period ended December 31, 2020, compared to the one-year period ended December 31, 2019 inventory increased by $3,734 (1.2%) due to changes in mining objectives in 2020 and sales of inventory to fund operations.

Liabilities:

For the one-year period ended December 31, 2020, compared to the one-year period ended December 31, 2019, accounts payable decreased by $18,821 as the company relied on loans to finance the operation.

For the one-year period ended December 31, 2020, compared to the one-year period ended December 31, 2019, notes due related parties increased by $89,200 (200%) due to a combination of additional loans and interest expense.

For the one-year period ended December 31, 2020, compared to the one-year period ended December 31, 2019, long-term notes decreased by $50,864 (25%) as a result of scheduled payments.

Statement of Operations

Income:

For the one-year period ended December 31, 2020, compared to the one-year period ended December 31, 2019, revenue decreased by $138,061 (60%) primarily due to a reduction in mining and increase in maintenance.

Operating Expenses:

For the one-year period ended December 31, 2020, compared to the one-year period ended December 31, 2019, operating expenses decreased overall by $176,629 (40%) due to reduced operations in 2020.

Other Income and Expense:

For the one-year period ended December 31, 2020, compared to the one-year period ended December 31, 2019, other income increased by $2,000 (71%) due to more rent collected on a company house.

For the one-year period ended December 31, 2020, compared to the one-year period ended December 31, 2019, other expenses decreased by $16,784 (100%)primarily due to a reconciliation of the stock account that was needed due to a discrepancy accumulated by years of rounding.(par value $0.033)

The company showed a loss of $173,578 in 2020 compared to a loss of $230,933 in 2019. The $57,355 (25%) difference is primarily due to lower operating costs and reduced operations in 2020 compared to 2019. The basic and diluted loss per share was (.012) in 2020 compared to (.016) in 2019. The number of shares used for the 2020 calculation was 14,390,631 and the number of shares for the 2019 calculation was 14,342,097.

(A) Comparisons of 2019 with 2018.

Balance Sheet Comparisons

Assets:

For the one-year period ended December 31, 2019, compared to the one-year period ended December 31, 2018, cash increased by $1,137 (34%) due to cash flow variations. Accounts receivable decreased by $10,651 (16%).

For the one-year period ended December 31, 2019, compared to the one-year period ended December 31, 2018, inventory decreased by $123,638 (29%) due to changes in mining objectives in 2019 and sales of inventory to fund operations.

For the one-year period ended December 31, 2019, compared to the one-year period ended December 31, 2018, equipment increased by $3,450 due to the purchase of a pump.

Liabilities:

For the one-year period ended December 31, 2019, compared to the one-year period ended December 31, 2018, accounts payable increased by $68,159 as the company relied on credit to finance the operation.

For the one-year period ended December 31, 2019, compared to the one-year period ended December 31, 2018, notes due related parties increased by $18,439 (7%) due to a combination of additional loans and interest expense.

For the one-year period ended December 31, 2019, compared to the one-year period ended December 31, 2018, long-term notes decreased by $9,231 (8%) as a result of scheduled payments with no new loans taken out.



Statement of Operations

Income:

For the one-year period ended December 31, 2019, compared to the one-year period ended December 31, 2018, revenue increased by $23,716 (11%) primarily due to increased gold sales in 2019.

Operating Expenses:

For the one-year period ended December 31, 2019, compared to the one-year period ended December 31, 2018, operating expenses decreased overall by $90,608 (17%) due to reduced operations in 2019.

Other Income and Expense:

For the one-year period ended December 31, 2019, compared to the one-year period ended December 31, 2018, other income decreased by $1,795 (39%) due to less rent collected on a company house.

For the one-year period ended December 31, 2019, compared to the one-year period ended December 31, 2018, other expenses decreased by $16,274 (50%)primarily due to a reconciliation of the stock account that was needed due to a discrepancy accumulated by years of rounding.(par value $0.033)

The company showed a loss of $230,933 in 2019 compared to a loss of $359,736 in 2018. The $128,803 (36%) difference is primarily due to lower operating costs in 2019 as the result of reduced operations compared to 2018. The basic and diluted loss per share was (.016) in 2019 compared to (.025) in 2018. The number of shares used for the 2019 calculation was 14,390,631 and the number of shares for the 2018 calculation was 14,342,097.

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