UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-Q/A-1
[X] | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 |
| FOR THE QUARTERLY PERIOD ENDED June 30, 2011 |
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[ ] | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 |
| FOR THE TRANSITION PERIOD FROM _____________ TO _____________ |
Commission file number 000-53309
RIVERDALE MINING INC.
(Exact name of registrant as specified in its charter)
NEVADA |
| 68-0672900 |
(State or other jurisdiction of incorporation or organization) |
| (IRS Employer Identification No.) |
20 Carl Crescent
Toronto, Ontario
Canada M1W 3R2
(Address of principal executive offices, including zip code.)
1-877-536-0333
(Registrant's telephone number, including area code)
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. Yes [X] No [ ]
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).
Yes [ ] No [ ]
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer, “accelerated filer,” “non-accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.
Large Accelerated filer |
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| Accelerated filer |
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Non-accelerated filer |
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| Smaller reporting company |
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(Do not check if a smaller reporting company) |
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Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES [X] NO [ ]
State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date: 7,000,000 as of August 12, 2011.
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EXPLANATORY NOTE
Our company is filing this Amendment No. 1 on Form 10-Q/A (the “Amendment”) to our quarterly report on Form 10-Q for the period ended June 30, 2011 (the “Form 10-Q”), filed with the Securities and Exchange Commission on August 15, 2011 (the “Original Filing Date”), to correct errors made on the statement of cash flows page, whereas the column heading for the three months ended June 30, 2010 has been properly reflected and to correct the total of net cash provided by financing activities for the three months ended June 30, 2011 of $11,092 instead of $31,092. Additionally, we are amending the original filing to furnish Exhibit 101 to the Form 10-Q in accordance with Rule 405 of Regulation S-T. Exhibit 101 consists of the following materials from our Form 10-Q, formatted in XBRL (eXtensible Business Reporting Language):
101.INS | XBRL Instance Document |
101.SCH | XBRL Taxonomy Schema |
101.CAL | XBRL Taxonomy Calculation Linkbase |
101.DEF | XBRL Taxonomy Definition Linkbase |
101.LAB | XBRL Taxonomy Label Linkbase |
101.PRE | XBRL Taxonomy Presentation Linkbase |
This Amendment speaks as of the Original Filing Date, does not reflect events that may have occurred subsequent to the Original Filing Date, and does not modify or update in any way disclosures made in the Form 10-Q. No other changes have been made to the Form 10-Q.
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PART I – FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
Riverdale Mining Inc.
(An Exploration Stage Company)
June 30, 2011
Basis of Presentation
The accompanying statements are presented in accordance with U.S. generally accepted accounting principles for interim financial information and the instructions to Form 10-Q and Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting only of normal occurring adjustments) considered necessary in order to make the financial statements not misleading, have been included. Operating results for the three months ended June 30, 2011 are not necessarily indicative of results that may be expected for the year ending March 31, 2012.
| Condensed Balance Sheets (unaudited) | F-1 |
| Condensed Statements of Expenses (unaudited) | F-2 |
| Condensed Statements of Cash Flows (unaudited) | F-3 |
| Notes to (unaudited) Condensed Financial Statements | F-4 |
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RIVERDALE MINING INC. | ||||||
(AN EXPLORATION STAGE COMPANY) | ||||||
BALANCE SHEETS Unaudited | ||||||
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| June 30, |
| March 31, | ||
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| 2011 |
| 2010 | ||
ASSETS |
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| CURRENT ASSETS |
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Cash | $ | 2,057 | $ | 2,677 | ||
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Total Current Assets |
| 2,057 |
| 2,677 | ||
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| TOTAL ASSETS | $ | 2,057 | $ | 2,677 | |
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LIABILITIES AND STOCKHOLDERS' DEFICIT |
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| CURRENT LIABILITIES |
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| Accounts payable and accrued expenses | $ | 63,128 | $ | 12,863 | |
| Demand note payable |
| 50,000 |
| 40,000 | |
| Accounts payable – related party |
| 12,497 |
| 11,405 | |
| TOTAL LIABILITIES | 125,625 |
| 64,268 | ||
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| COMMITMENTS AND CONTINGENCIES |
| - |
| - | |
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| STOCKHOLDERS' DEFICIT |
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| Preferred Stock, 100,000,000 shares authorized, $0.00001 par value |
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| No shares are issued and outstanding |
| - |
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| Common stock, 100,000,000 shares authorized, $0.00001 par value; |
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7,000,000 shares issued and outstanding |
| 70 |
| 70 | ||
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| Additional paid-in capital |
| 199,980 |
| 199,980 |
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| Deficit accumulated during exploration stage |
| (323,618) |
| (261,641) |
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| TOTAL STOCKHOLDERS' DEFICIT |
| (123,568) |
| (61,591) |
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| TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ | 2,057 | $ | 2,677 | |
See accompanying condensed notes to interim unaudited condensed financial statements.
F-1
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RIVERDALE MINING INC. | |||||||
(AN EXPLORATION STAGE ENTERPRISE) | |||||||
CONDENSED STATEMENTS OF EXPENSES | |||||||
(Unaudited) | |||||||
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| For the period from March 30, | |
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| Three Month Ended |
| Three Month Ended |
| 2007 (Inception) Through | |
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| June 30, 2011 |
| June 30, 2010 |
| June 30, 2011 | |
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EXPENSES |
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| Consulting fees | $ | 54,765 | $ | 4,500 | $ | 166,752 |
| Legal and accounting |
| 280 |
| 2,500 |
| 75,959 |
| Exploration |
| - |
| - |
| 16,500 |
| Loan Interest |
| 1,247 |
| - |
| 2,680 |
| Other general and administrative |
| 5,685 |
| 2,974 |
| 61,727 |
NET LOSS | $ | (61,977) | $ | (9,974) |
| (323,618) | |
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| NET LOSS PER COMMON SHARE- BASIC AND DILUTED |
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$ |
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| WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - BASIC AND DILUTED |
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See accompanying condensed notes to interim unaudited condensed financial statements.
F-2
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RIVERDALE MINING INC. | ||||||||
(AN EXPLORATION STAGE COMPANY) | ||||||||
CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) | ||||||||
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| For the period from | ||||
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| Months Ended | Months Ended | (Inception) through | ||||
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| June 30, 2011 | June 30, 2010 | June 30, 2011 | ||||
CASH FLOWS FROM OPERATING ACTIVITIES |
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| Net loss | $ | (61,977) | $ | (9,974) | $ | (323,618) | |
| Adjustments to reconcile net loss to net cash used in operating activities: |
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| Increase in accounts payable and accrued expenses |
| 50,265 |
| (705) |
| 63,128 | |
Net cash used in operating activities |
| (11,712) |
| (10,679) |
| (260,490) | ||
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CASH FLOWS FROM INVESTING ACTIVITIES |
| - |
| - |
| - | ||
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CASH FLOWS FROM FINANCING ACTIVITIES |
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| Net advances from (repayments to) related party |
| 1,092 |
| 16,789 |
| 12,497 | |
| Proceeds from sale of common stock |
| - |
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| 200,050 | |
| Proceeds from note payable |
| 10,000 |
| - |
| 50,000 | |
Net cash provided by financing activities |
| 11,092 |
| 16,789 |
| 262,547 | ||
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Change in cash |
| (620) |
| 6,110 |
| 2,057 | ||
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Cash, beginning of period | $ | 2,677 | $ | 128 | $ | - | ||
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Cash, end of period | $ | 2,057 | $ | 6,238 | $ | 2,057 | ||
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SUPPLEMENTAL CASHFLOW DISCLOSURES |
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| Interest paid | $ | - | $ | - | $ | - | |
| Income taxes paid | $ | - | $ | - | $ | - | |
See accompanying condensed notes to interim unaudited condensed financial statements.
F-3
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RIVERDALE MINING INC. |
(AN EXPLORATION STAGE COMPANY) |
NOTES TO CONDENSEDFINANCIAL STATEMENTS |
(Unaudited) |
NOTE 1. - BASIS OF PRESENTATION
The accompanying unaudited interim financial statements of Riverdale Mining Inc. (“Riverdale Mining or the “Company”), have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in Riverdale’s Annual Report filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which substantially duplicate the disclosure contained in the audited financial statements for fiscal 2010 as reported in the Form 10-K have been omitted.
NOTE 2. - GOING CONCERN
From March 30, 2007 (date of inception) to June 30, 2011, Riverdale Mining has not generated revenues and has accumulated losses since inception. The continuation of Riverdale Mining as a going concern is dependent upon the continued financial support from its shareholders, the ability of Riverdale Mining to obtain necessary equity financing to continue operations, and the attainment of profitable operations. There is no guarantee that Riverdale Mining will be able to complete any of the above objectives. These factors raise substantial doubt regarding the Riverdale Mining’s ability to continue as a going concern.
NOTE 3. – RELATED PARTY TRANSACTIONS
The Company occupies office space provided by the president of the Company at no cost. The value of the space is not considered materially significant for financial reporting purposes. Advances on behalf of the Company are non-interest bearing.
NOTE 4 – MINING CLAIMS
On January 31, 2011, the Company was unaware of its mineral title renew and inadvertently did not renew the Sheelagh Creek Gold mining claim in time. The claim was automatically forfeited and was re-staked by Speebo Inc. On February 15, 2011, Speebo Inc. agreed to resell the claim to the Company for $2,500, which was paid on February 15, 2011. The Sheelagh Creek Gold mining claim is held in the name of the Company’s president, Vladimir Vaskevich.
F-4
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RIVERDALE MINING INC. |
(AN EXPLORATION STAGE COMPANY) |
NOTES TO CONDENSEDFINANCIAL STATEMENTS |
(Unaudited) |
NOTE 5 - DEMAND NOTE PAYABLE
As of June 30, 2011, Riverdale borrowed $50,000 from CRG Finance. The note bears 10% interest and is due on demand.
NOTE 6 - SUBSEQUENT EVENTS
On July 27, 2011, the Company arranged to borrow another $25,000 from CRG Finance AG. The loan is due upon demand and compounds interest at 10.0% per annum.
F-5
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ITEM 6. EXHIBITS.
The following documents are included herein:
Exhibit No. | Document Description |
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31.1 | Certification of Principal Executive Officer and Principal Financial Officer pursuant to Rule 13a-15(e) and 15d-15(e), promulgated under the Securities and Exchange Act of 1934, as amended. |
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32.1 | Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (Chief Executive Officer and Chief Financial Officer). |
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101 | Interactive Data Files(Form 10-Q for the quarterly period ended June 30, 2011 furnished in XBRL). |
| 101 INS - XBRL Instance Document |
| 101 SCH -XBRL Taxonomy Schema |
| 101 CAL -XBRL Taxonomy Calculation Linkbase |
| 101 DEF -XBRL Taxonomy Definition Linkbase |
| 101 LAB -XBRL Taxonomy Label Linkbase |
| 101 PRE -XBRL Taxonomy Presentation Linkbase |
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SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized on this 14th day of September, 2011.
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| RIVERDALE MINING INC. | |
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| BY: | VLADIMIR VASKEVICH |
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| Vladimir Vaskevich, President, Principal |
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| Executive Officer, Treasurer, Principal |
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| Financial Officer and Principal Accounting |
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| Officer |
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EXHIBIT INDEX
Exhibit No. | Document Description |
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31.1 | Certification of Principal Executive Officer and Principal Financial Officer pursuant to Rule 13a-15(e) and 15d-15(e), promulgated under the Securities and Exchange Act of 1934, as amended. |
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32.1 | Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (Chief Executive Officer and Chief Financial Officer). |
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101 | Interactive Data Files(Form 10-Q for the quarterly period ended June 30, 2011 furnished in XBRL). |
| 101 INS - XBRL Instance Document |
| 101 SCH -XBRL Taxonomy Schema |
| 101 CAL -XBRL Taxonomy Calculation Linkbase |
| 101 DEF -XBRL Taxonomy Definition Linkbase |
| 101 LAB -XBRL Taxonomy Label Linkbase |
| 101 PRE -XBRL Taxonomy Presentation Linkbase |
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