-----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, Wc/x6OfyQu7YqKmW+IKW1M/SEh0giva03zQpU9nfyXh+WjgeeRDcZyNuj1RimKGV LsUeWTmaJZZHLzVXidsP6g== 0001014909-98-000157.txt : 19981014 0001014909-98-000157.hdr.sgml : 19981014 ACCESSION NUMBER: 0001014909-98-000157 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980930 FILED AS OF DATE: 19981013 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: SILVERTHORNE PRODUCTION CO CENTRAL INDEX KEY: 0000726293 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 840189377 STATE OF INCORPORATION: CO FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 000-11730 FILM NUMBER: 98724135 BUSINESS ADDRESS: STREET 1: 708 MARGARITA AVE CITY: CORONADO STATE: CA ZIP: 92118 BUSINESS PHONE: 6195220010 MAIL ADDRESS: STREET 1: 708 MARGARITA AVE CITY: CORONADO STATE: CA ZIP: 92118 10-Q 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-Q Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarter ended September 30, 1998 Commission File No. 2-85845-D ------------------------------------------------------------------------------ SILVERTHORNE PRODUCTION COMPANY (Exact name of Registrant as specified in its charter) COLORADO 84-0189377 (State or other jurisdiction of (IRS Employer Identification No.) incorporation or organization) 16053 Via Viajera, Rancho Santa Fe, CA 92091 (619) 759-9123 (Current address of principal executive office) (Registrant's telephone No. with area code) Indicate by check mark whether 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 Registrant was required to file such reports, and (2) has been subject to such filing requirements for the past 90 days. [x] Yes [ ] No The number of shares outstanding of each class of Registrant's classes of Common Stock ($.001 par value)as of end of period covered by report was: September 30, 1998: 15,757,047 PART I - FINANCIAL INFORMATION ------------------------------ ITEM 1. FINANCIAL STATEMENTS. - ------- -------------------- Financial Statements (unaudited) for quarter year ended September 30, 1998, attached nd incorporated herein by reference. (See following pages)
SILVERTHORNE PRODUCTION COMPANY Unaudited - compiled by management (A Developmental Stage Company) BALANCE SHEET -- September 30, 1998 Unaudited Audited Sept. 30, 1998 June 30, 1998 -------------- ------------- ASSETS - ------ CURRENT ASSETS: Cash $ 0 $ 0 --------- --------- $ 0 $ 0 ========= ========= LIABILITIES AND SHAREHOLDERS' EQUITY - ------------------------------------ CURRENT LIABILITIES: Accounts Payable 8,326 7,018 --------- -------- $ 8,326 $ 7,018 --------- --------- SHAREHOLDERS' EQUITY (DEFICIENCY) Common Stock: par value $.001 authorized 50,000,000 shares; issued and outstanding: 15,757,047 shares $ 15,757 $ 15,757 Additional paid-in capital 748,230 748,230 --------- --------- Retained earnings deficit: From regular operations (617,286) (617,286) Accumulated: developmental stage (155,027) (153,719) --------- --------- TOTAL SHAREHOLDERS' EQUITY $( 8,326) $( 7,018) --------- --------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 0 $ 0 ========= ========= The accompanying notes are an integral part of the financial statements.
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SILVERTHORNE PRODUCTION COMPANY Unaudited - compiled by management (A Developmental Stage Company) STATEMENT OF OPERATIONS -- September 30, 1998 Unaudited Unaudited 3 months ended 3 months ended Sept. 30, 1998 Sept. 30, 1997 -------------- -------------- REVENUES: Miscellaneous income $ 0 $ 0 ---------- --------- EXPENSES: $ 1,308 $ 1,351 ---------- --------- NET INCOME (LOSS) $( 1,308) $( 1,351) ========== ========= NET (LOSS) PER COMMON SHARE $( .0000) $( .0004) ---------- --------- COMMON SHARES OUTSTANDING 15,757,047 3,505,047 ========== =========
The accompanying notes are an integral part of the financial statements. -3-
SILVERTHORNE PRODUCTION COMPANY Unaudited - compiled by management (A Developmental Stage Company) CASH FLOW STATEMENT -- September 30, 1998 Unaudited Unaudited 3 months ended 3 months ended Sept. 30, 1998 Sept. 30, 1997 -------------- -------------- CASH FLOWS FROM OPERATING ACTIVITIES: Net (loss) $(1,308) $(1,378) Increase (decrease) in accounts payable 1,308 677 Increase in accrued interest 0 674 ------- ------- Net cash flows from operation $ 0 $( 27) ------- ------- CASH FLOWS FROM FINANCING ACTIVITIES: $ 0 $ 0 ------- ------- Net cash flows from financing $ 0 $ 0 ------- ------- CASH FLOWS F0R INVESTMENT ACTIVITIES: $ 0 $ 0 ------- ------- Net cash flows for investments $ 0 $ 0 ------- ------- NET INCREASE IN CASH AND CASH EQUIVALENT $ 0 $( 27) Cash at beginning of period 0 26 ------- ------- Cash at end of period $ 0 $( 1) ======= =======
The accompanying notes are an integral part of the financial statements. -4-
SILVERTHORNE PRODUCTION COMPANY Unaudited - compiled by management (A Developmental Stage Company) STATEMENTS OF SHAREHOLDERSO EQUITY (DEFICIT) -- September 30, 1998 Total Common Stock Additional shareholders' ------------------------ paid-in Accumulated equity Shares Amount capital deficit (deficiency) ----------- ------- ---------- ------------ -------------- BALANCES, June 30, 1998 #15,757,047 $15,757 $748,230 $(771,005) $(7,018) NET INCOME (LOSS) from Developmental Stage: Sept. 30, 1998 ( 1,308) (1,308) ----------- ------- -------- --------- ------- BALANCES, Sept. 30, 1997 #15,757,047 $15,757 $748,230 $(772,313) $(8,326) =========== ======= ======== ========= =======
The accompanying notes are an integral part of the financial statements. NOTES TO FINANCIAL STATEMENTS -- September 30, 1998 The accounting policies followed by Company are set forth in the notes to the CompanyOs audited financial statements in the Form 10-K Report filed for the year ended June 30, 1998, which is incorporated by reference. Such policies have been continued without change. Also, refer to those notes for details of the CompanyOs financial condition, results of operations and cash flows. All material items in those note have not changed. In the opinion of management, the accompanying interim financial statements contain all adjustments necessary to present fairly the CompanyOs financial position as of September 30, 1998, and the results of it operations and cash flows for the three month period ended. -5- ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND - ------- --------------------------------------------------------------- RESULTS OF OPERATION. --------------------- As of March 31, 1989, the Company had returned to a developmental stage company. The CompanyOs financial condition did not change materially during the quarter covered by this report. LIQUIDITY. The Company's liquidity did not change materially during the quarter year covered by this report. Company had no material liquid assets at the beginning nor at the ending. CAPITAL RESOURCES. The Company had no commitments for any capital expenditures nor increases in capital resources during the quarter year covered by this report. RESULTS OF OPERATION. The Company has not had any business operations during the quarter year covered by this report. The CompanyOs pursuit of business operations through acquisition by stock exchange or merger has not materialized. No mergers are being negoitated. PART II - OTHER INFORMATION --------------------------- ITEM 3. EXHIBITS AND REPORTS ON FORM 8-K. - ------- --------------------------------- Exhibits: -------- Exhibit 27 - Financial Data Schedule Form 8-K: -------- None. SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, Registrant has duly caused this report to be signed on its behalf by the officers, undersigned, thereunto duly authorized. SILVERTHORNE PRODUCTION COMPANY Dated: October 2, 1998 By: /s/ David L. Jackson --------------------------------------- David L. Jackson, President, Chief Executive Officer and Director Dated: October 2, 1998 By: /s/ T.M. Jackson --------------------------------------- T. M Jackson, Secretary and Director -6- EX-27 2
5 THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE REGISTRANT'S FORM 10-Q FOR THE QUARTER ENDED SEPTEMBER 30, 1998 AND IS QUALIFIED IN ITS ENTIRETY TO SUCH FORM 10-Q. 3-MOS JUN-30-1998 SEP-30-1998 0 0 0 0 0 0 0 0 0 8,326 0 0 0 15,757 0 0 0 0 0 0 1,308 0 0 0 0 0 0 0 0 (1,308) 0.00 0.00
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