[X] | QUARTERLY REPORT UNDER TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED |
OR | |
[ ] | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
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Page | ||
Financial Information. | 3 | |
Balance Sheets (Unaudited) | ||
Statements of Operations (Unaudited) | ||
Statements of Cash Flows (Unaudited) | ||
Notes to Financial Statements (Unaudited) | ||
Management’s Discussion and Analysis of Financial Condition and Results of Operations. | 8 | |
Quantitative and Qualitative Disclosures About Market Risk. | 9 | |
Controls and Procedures. | 9 | |
Risk Factors. | 10 | |
Exhibits. | 10 | |
11 | ||
12 |
(An Exploration Stage Company) | |||||
Balance Sheets | |||||
(Expressed in US Dollars) | |||||
May 31, | November 30, | ||||
2011 | 2010 | ||||
(Unaudited) | |||||
Assets | |||||
Current Assets | |||||
Cash | $ | 43,916 | $ | 56,941 | |
Total Assets | $ | 43,916 | $ | 56,941 | |
Liabilities and Stockholders' Equity | |||||
Current Liabilities | |||||
Accounts payable and accrued liabilities | $ | 3,834 | $ | 7,000 | |
Total Liabilities | 3,834 | 7,000 | |||
Stockholders' Equity | |||||
Preferred Stock, 100,000,000 shares authorized, $0.00001 par value | |||||
None issued | - | - | |||
Common Stock, 100,000,000 shares authorized, $0.00001 par value | |||||
6,906,300 and 6,906,300 shares issued and outstanding, respectively | 69 | 69 | |||
Additional paid in capital | 271,881 | 271,881 | |||
Deficit accumulated during the exploration stage | (231,868) | (222,009) | |||
Total Stockholders' Equity | 40,082 | 49,941 | |||
Total Liabilities and Stockholders' Equity | $ | 43,916 | $ | 56,941 |
(An Exploration Stage Company) | |||||
Balance Sheets | |||||
(Expressed in US Dollars) | |||||
August 31, | November 30, | ||||
2011 | 2010 | ||||
(Unaudited) | |||||
Assets | |||||
Current Assets | |||||
Cash | $ | 41,499 | $ | 56,941 | |
Total Assets | $ | 41,499 | $ | 56,941 | |
Liabilities and Stockholders' Equity | |||||
Current Liabilities | |||||
Accounts payable and accrued liabilities | $ | 5,672 | $ | 7,000 | |
Total Liabilities | 5,672 | 7,000 | |||
Stockholders' Equity | |||||
Preferred Stock, 100,000,000 shares authorized, $0.00001 par value None issued | - | - | |||
Common Stock, 100,000,000 shares authorized, $0.00001 par value 6,906,300 and 6,906,300 shares issued and outstanding, respectively | 69 | 69 | |||
Additional paid in capital | 271,881 | 271,881 | |||
Deficit accumulated during the exploration stage | (236,123) | (222,009) | |||
Total Stockholders' Equity | 35,827 | 49,941 | |||
Total Liabilities and Stockholders' Equity | $ | 41,499 | $ | 56,941 |
(An Exploration Stage Company) | ||||||||||||
Statements of Operations | ||||||||||||
(Expressed in US Dollars) | ||||||||||||
(Unaudited) | ||||||||||||
Period From | ||||||||||||
Three Months | Three Months | Six Months | Six Months | August 31, 2006 | ||||||||
Ended | Ended | Ended | Ended | (Date of Inception) | ||||||||
May 31, | May 31, | May 31, | May 31, | to May 31, | ||||||||
2011 | 2010 | 2011 | 2010 | 2011 | ||||||||
Expenses | ||||||||||||
General and administrative | $ | 483 | $ | 318 | $ | 919 | $ | 527 | $ | 89,298 | ||
Mineral property costs | - | - | - | - | 25,227 | |||||||
Professional fees | 3,670 | 5,010 | 8,940 | 7,110 | 117,343 | |||||||
Total expenses | 4,153 | 5,328 | 9,859 | 7,637 | 231,868 | |||||||
Net loss for the period | $ | (4,153) | $ | (5,328) | $ | (9,859) | $ | (7,637) | $ | (231,868) | ||
Net loss per share | ||||||||||||
Basic and diluted | $ | (0.00) | $ | (0.00) | $ | (0.00) | $ | (0.00) | $ | (0.03) | ||
Weighted average number of shares | ||||||||||||
outstanding - basic and diluted | 6,906,300 | 6,906,300 | 6,906,300 | 6,906,300 | 6,906,300 |
(An Exploration Stage Company) | ||||||||||||
Statements of Operations | ||||||||||||
(Expressed in US Dollars) | ||||||||||||
(Unaudited) | ||||||||||||
Period | ||||||||||||
From | ||||||||||||
August 31, | ||||||||||||
Three | Three | Nine | Nine | 2006 | ||||||||
Months | Months | Months | Months | (Date of | ||||||||
Ended | Ended | Ended | Ended | Inception) | ||||||||
August 31, | August 31, | August 31, | August 31, | to August 31, | ||||||||
2011 | 2010 | 2011 | 2010 | 2011 | ||||||||
Expenses | ||||||||||||
General and administrative | $ | 579 | $ | 571 | $ | 1,498 | $ | 1,099 | $ | 89,877 | ||
Mineral property costs | - | - | - | - | 25,227 | |||||||
Professional fees | 3,676 | 6,799 | 12,616 | 13,909 | 121,019 | |||||||
Total expenses | 4,255 | 7,370 | 14,114 | 15,008 | 236,123 | |||||||
Net loss for the period | $ | (4,255) | $ | (7,370) | $ | (14,114) | $ | (15,008) | $ | (236,123) | ||
Net loss per share | ||||||||||||
Basic and diluted | $ | (0.00) | $ | (0.00) | $ | (0.00) | $ | (0.00) | $ | (0.03) | ||
Weighted average number of shares | ||||||||||||
outstanding - basic and diluted | 6,906,300 | 6,906,300 | 6,906,300 | 6,906,300 | 6,906,300 |
FLM Minerals Inc. | |||||||||||
(An Exploration Stage Company) | |||||||||||
From period August 31, 2006 (inception) through May 31, 2011 | |||||||||||
Additional | |||||||||||
Common Stock | Paid in | Subscriptions | Accumulated | ||||||||
Shares | Amount | Capital | Receivable | Deficit | Total | ||||||
Balance at August 31, 2006 | |||||||||||
(inception) | - | $ | - | $ | - | $ | - | $ | - | $ | - |
Capital stock issued for cash | |||||||||||
at $0.00001 per share | 6,000,000 | 60 | - | - | - | 60 | |||||
Capital stock issued for cash | |||||||||||
at $0.30 per share | 906,300 | 9 | 271,881 | (42,600) | - | 229,290 | |||||
Net loss for period | - | - | - | - | (18,200) | (18,200) | |||||
Balance at November 30, 2006 | 6,906,300 | 69 | 271,881 | (42,600) | (18,200) | 211,150 | |||||
Share subscriptions received | - | - | - | 42,600 | - | 42,600 | |||||
Net loss for year | - | - | - | - | (78,370) | (78,370) | |||||
Balance at November 30, 2007 | 6,906,300 | 69 | 271,881 | - | (96,570) | 175,380 | |||||
Net loss for year | - | - | - | - | (77,781) | (77,781) | |||||
Balance at November 30, 2008 | 6,906,300 | 69 | 271,881 | - | (174,351) | 97,599 | |||||
Net loss for year ended November 30, 2009 | - | - | - | - | (22,904) | (22,904) | |||||
Balance at November 30, 2009 | 6,906,300 | 69 | 271,881 | - | (197,255) | 74,695 | |||||
Net loss for year ended November 30, 2010 | - | - | - | - | (24,754) | (24,754) | |||||
Balance at November 30, 2010 | 6,906,300 | 69 | 271,881 | - | (222,009) | 49,941 | |||||
Unaudited: | |||||||||||
Net loss for the period ended May 31, 2011 | - | - | - | - | (9,859) | (9,859.00) | |||||
Balance at May 31, 2011 | 6,906,300 | $ | 69 | $ | 271,881 | $ | - | $ | (231,868) | $ | 40,082 |
(An Exploration Stage Company) | |||||||||
Statements of Cash Flows | |||||||||
(Expressed in US Dollars) | |||||||||
(Unaudited) | |||||||||
Period | |||||||||
From | |||||||||
Six Months | Six Months | August 31 ,2006 | |||||||
Ended | Ended | (Date of Inception) | |||||||
May 31, | May 31, | to May 31, | |||||||
2011 | 2010 | 2011 | |||||||
Cash flows used in operating activities | |||||||||
Net loss for the period | $ | (9,859) | $ | (7,637) | $ | (231,868) | |||
Changes in operating assets and liabilities | |||||||||
Increase (decrease) in accounts payable and accrued liabilities | (3,166) | (3,400) | 3,834 | ||||||
Net cash used in operating activities | (13,025) | (11,037) | (228,034) | ||||||
Cash flows from financing activities | |||||||||
Proceeds from sale of common stock | - | - | 271,950 | ||||||
Net cash from financing activities | - | - | 271,950 | ||||||
Cash increase (decrease) during the period | (13,025) | (11,037) | 43,916 | ||||||
Cash beginning of the period | 56,941 | 81,795 | - | ||||||
Cash end of the period | $ | 43,916 | $ | 70,758 | $ | 43,916 | |||
Supplemental cash flow information: | |||||||||
Interest paid | $ | - | $ | - | $ | - | |||
Income taxes paid | $ | - | $ | - | $ | - |
(An Exploration Stage Company) | |||||||||||
Statements of Changes in Stockholders’ Equity | |||||||||||
From period August 31, 2006 (inception) through August 31, 2011 | |||||||||||
Additional | |||||||||||
Common Stock | Paid in | Subscriptions | Accumulated | ||||||||
Shares | Amount | Capital | Receivable | Deficit | Total | ||||||
Balance at August 31, 2006 (inception) | - | $ | - | $ | - | $ | - | $ | - | $ | - |
Capital stock issued for cash at $0.00001 per share | 6,000,000 | 60 | - | - | - | 60 | |||||
Capital stock issued for cash at $0.30 per share | 906,300 | 9 | 271,881 | (42,600) | - | 229,290 | |||||
Net loss for period | - | - | - | - | (18,200) | (18,200) | |||||
Balance at November 30, 2006 | 6,906,300 | 69 | 271,881 | (42,600) | (18,200) | 211,150 | |||||
Share subscriptions received | - | - | - | 42,600 | - | 42,600 | |||||
Net loss for year | - | - | - | - | (78,370) | (78,370) | |||||
Balance at November 30, 2007 | 6,906,300 | 69 | 271,881 | - | (96,570) | 175,380 | |||||
Net loss for year | - | - | - | - | (77,781) | (77,781) | |||||
Balance at November 30, 2008 | 6,906,300 | 69 | 271,881 | - | (174,351) | 97,599 | |||||
Net loss for year ended November 30, 2009 | - | - | - | - | (22,904) | (22,904) | |||||
Balance at November 30, 2009 | 6,906,300 | 69 | 271,881 | - | (197,255) | 74,695 | |||||
Net loss for year ended November 30, 2010 | - | - | - | - | (24,754) | (24,754) | |||||
Balance at November 30, 2010 | 6,906,300 | 69 | 271,881 | - | (222,009) | 49,941 | |||||
Unaudited: | |||||||||||
Net loss for the period ended August 31, 2011 | - | - | - | - | (14,114) | (14,114) | |||||
Balance at August 31, 2011 | 6,906,300 | $ | 69 | $ | 271,881 | $ | - | $ | (236,123) | $ | 35,827 |
(An Exploration Stage Company) | |||||||||
Statements of Cash Flows | |||||||||
(Expressed in US Dollars) | |||||||||
(Unaudited) | |||||||||
Period | |||||||||
From | |||||||||
August 31, | |||||||||
Nine | Nine | 2006 | |||||||
Months | Months | (Date of | |||||||
Ended | Ended | Inception) | |||||||
August 31, | August 31, | to August 31, | |||||||
2011 | 2010 | 2011 | |||||||
Cash flows used in operating activities | |||||||||
Net loss for the period | $ | (14,114) | $ | (15,008) | $ | (236,123) | |||
Changes in operating assets and liabilities | |||||||||
Increase (decrease) in accounts payable and accrued liabilities | (1,328) | (5,300) | 5,672 | ||||||
Net cash used in operating activities | (15,442) | (20,308) | (230,451) | ||||||
Cash flows from financing activities | |||||||||
Proceeds from sale of common stock | - | - | 271,950 | ||||||
Net cash from financing activities | - | - | 271,950 | ||||||
Cash increase (decrease) during the period | (15,442) | (20,308) | 41,499 | ||||||
Cash beginning of the period | 56,941 | 81,795 | - | ||||||
Cash end of the period | $ | 41,499 | $ | 61,487 | $ | 41,499 | |||
Supplemental cash flow information: | |||||||||
Interest paid | $ | - | $ | - | $ | - | |||
Income taxes paid | $ | - | $ | - | $ | - |
Incorporated by reference | Incorporated by reference | |||||||||
Exhibit | Document Description | Form | Date | Number | Filed herewith | Document Description | Form | Date | Number | Filed herewith |
3.1 | Articles of Incorporation. | SB-2 | 07-12-07 | 3.1 | Articles of Incorporation. | SB-2 | 07-12-07 | 3.1 | ||
3.2 | Bylaws. | SB-2 | 07-12-07 | 3.2 | Bylaws. | SB-2 | 07-12-07 | 3.2 | ||
4.1 | Specimen Stock Certificate. | SB-2 | 07-12-07 | 4.1 | Specimen Stock Certificate. | SB-2 | 07-12-07 | 4.1 | ||
10.1 | Option Agreement | SB-2 | 07-12-07 | 10.1 | Option Agreement | SB-2 | 07-12-07 | 10.1 | ||
14.1 | Code of Ethics. | 10-K | 02/28/08 | 14.1 | Code of Ethics. | 10-K | 02/28/08 | 14.1 | ||
31.1 | Certification of Principal Executive and Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | X | Certification of Principal Executive and Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | X | ||||||
32.1 | Certification of Chief Executive and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. | X | Certification of Chief Executive and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. | X | ||||||
99.1 | Audit Committee Charter. | 10-K | 02/28/08 | 99.1 | Audit Committee Charter. | 10-K | 02/28/08 | 99.1 | ||
99.2 | Disclosure Committee Charter. | 10-K | 02/28/08 | 99.2 | Disclosure Committee Charter. | 10-K | 02/28/08 | 99.2 | ||
101.INS | XBRL Instance Document. | X | ||||||||
101.SCH | XBRL Taxonomy Extension – Schema. | X | ||||||||
101.CAL | XBRL Taxonomy Extension – Calculations. | X | ||||||||
101.DEF | XBRL Taxonomy Extension – Definitions. | X | ||||||||
101.LAB | XBRL Taxonomy Extension – Labels. | X | ||||||||
101.PRE | XBRL Taxonomy Extension – Presentation. | X |
FLM MINERALS INC. | ||
BY: | XIN CHEN | |
Xin Chen | ||
President, Principal Executive Officer, Principal Accounting Officer, Principal Financial Officer, Secretary, Treasurer and a member of the Board of Directors |
Incorporated by reference | Incorporated by reference | |||||||||
Exhibit | Document Description | Form | Date | Number | Filed herewith | Document Description | Form | Date | Number | Filed herewith |
3.1 | Articles of Incorporation. | SB-2 | 07-12-07 | 3.1 | Articles of Incorporation. | SB-2 | 07-12-07 | 3.1 | ||
3.2 | Bylaws. | SB-2 | 07-12-07 | 3.2 | Bylaws. | SB-2 | 07-12-07 | 3.2 | ||
4.1 | Specimen Stock Certificate. | SB-2 | 07-12-07 | 4.1 | Specimen Stock Certificate. | SB-2 | 07-12-07 | 4.1 | ||
10.1 | Option Agreement | SB-2 | 07-12-07 | 10.1 | Option Agreement | SB-2 | 07-12-07 | 10.1 | ||
14.1 | Code of Ethics. | 10-K | 02/28/08 | 14.1 | Code of Ethics. | 10-K | 02/28/08 | 14.1 | ||
31.1 | Certification of Principal Executive and Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | X | Certification of Principal Executive and Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | X | ||||||
32.1 | Certification of Chief Executive and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. | X | Certification of Chief Executive and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. | X | ||||||
99.1 | Audit Committee Charter. | 10-K | 02/28/08 | 99.1 | Audit Committee Charter. | 10-K | 02/28/08 | 99.1 | ||
99.2 | Disclosure Committee Charter. | 10-K | 02/28/08 | 99.2 | Disclosure Committee Charter. | 10-K | 02/28/08 | 99.2 | ||
101.INS | XBRL Instance Document. | X | ||||||||
101.SCH | XBRL Taxonomy Extension – Schema. | X | ||||||||
101.CAL | XBRL Taxonomy Extension – Calculations. | X | ||||||||
101.DEF | XBRL Taxonomy Extension – Definitions. | X | ||||||||
101.LAB | XBRL Taxonomy Extension – Labels. | X | ||||||||
101.PRE | XBRL Taxonomy Extension – Presentation. | X |