SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (x)ANNAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 Commission File No. 001-10156 ORIGINAL SIXTEEN TO ONE MINE, INC. (Exact name of registrant as specified in its charter) CALIFORNIA 94-0735390 (State or other jurisdiction of (I.R.S. Employer ID#) incorporation or organization) Post Office Box 909, Alleghany, CA 95910 (Address of principal executive offices) (530) 287-3223 (Registrant's telephone number) (including area code) Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes [] No [x] Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the act. Yes [] No [x] 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 [] No [x] Indicate by check mark whether the registrant has submitted electronically 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 (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[x] ? Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K. Yes[x] 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" and "smaller reporting company" in Rule 12b-2 of the Exchange Act. Large accelerated filer [ ] Accelerated filer [ ] Non-accelerated filer [ ] Smaller reporting company [X] Indicate by check mark whether the registrant is a shell company (as defined in rule 12b-d of the act). Yes [] No[x] As of December 31, 2019, 14,390,631 shares of Common Stock, par value $.033 per share, were issued and outstanding. PART I GENERAL NOTE In accordance with directive from the Securities and Exchange Commission(SEC) and Industry Guide 7, reference for all intent and purposes to the Company's employees as miners, its properties as mines or its operation as mining does not diminish the fact that the Company has no proven reserves and is in the "exploration state" as defined in Guide 7(a)(4)(iii); however, the Company continues to produce gold over its 108 years of operating its mines in the Alleghany Mining district. Proceeds from the annual production for 2015 and 2016 realized profitable years. Gold production in 2018 and 2019 was minimal as management directed the crew to begin a tough but significant project December 2016: reestablish the 49 WINZE for mining. Work continued through 2019, as planned. The 49 WINZE, access to the deep levels of the Sixteen was abandoned in 2005. The winze is a vital component for resuming gold production on established gold headings. ? In addition, safe travel was secured and approve by the federal regulatory agency known as MSHA in the winze, the 1000 foot level and the 1700 foot level. Another primary goal included lowering the water. As of December 31, 2019, the water is 10 feet below the 1900 level. During 2019, very little time was spent detecting for and mining gold. With one prior profitable year, management decided to place rehabilitation/maintenance ahead of mining for gold. Operating capital came from inventory and recent production, which were sold to preexisting markets. In addition to significant underground improvements, relations with federal and California regulators improved significantly during 2019. California is known for its active environmental perspectives and advocates. Its reputation is global. Significant progress continues towards achieving lawful interpretation of the Porter Cologne Act, the basis of water administration. SUBSEQUENT EVENTS In 2012, a shareholder approached Michael Miller with his idea ?to develop and apply the latest in sensing and detection technology to enhance the odds of finding gold?. He was a Silicon Valley promoter capable of hiring engineers to develop new technology in locating gold in quartz veins. The Shareholder wrote ?our development team has over forty years combined experience in all fields of RF technology and is confident it can enhance current detection ability by a considerable margin.? The Silicon Valley group formed a shell company with a billionaire?s money. A contract with the mine was negotiated. This group became a California code violating triumvirate! The Company?s agreement entitled it to use a portion of the mine to develop new technology in locating gold in exchange for a percentage of gold found using their technology. It was unsuccessful, a 100% failure as no gold target was ever identified. Years of our time were lost, including expenses billed to this shell which were unpaid and ignored. The triumvirate?s true plan was a scheme called ?loan to own? the mine. The billionaire supplied the money as his partners led us into worthless pursuits underground. The objective, according to a later statement, was to give the Sixteen to One mine to the billionaire. When that didn?t work the trio modified its business. Their plans to interfere with the mining operations at the Sixteen to One became more devious. Harassing 16 to 1 miners, putting hidden cameras in the mine, and intimidating key associates until they disassociate themselves from the mine is called ?Intentional Interference in a Business Relationship?. It worked. I lost a director. Scott didn?t need the hassles and knew the triumvirate would continue hoping to bankrupt Original Sixteen to One Mine, Inc. Our shareholders and I lost time and money but we repaid a $500,000 loan. Nevertheless, the interferences continue. The trio contacted government mining regulating agencies (Central Valley Water Board, MSHA, etc.), local law enforcements and Sixteen to One shareholders with bogus accusations to draw negative attention to the mine and its operations. Last October (2019) our property found itself under siege by County, State, and Federal government bureaucrats. The triumvirate had secured two former disgruntled employees guilty of violating serious Company policies to file an affidavit that 1000 gallons of oil was buried near Kanaka Creek. The regulators, some armed with pistols and rifles (about 50 of them all told), spent a week occupying the property, excluding our miners from entering. Neither the Company nor I authorized the placement of toxic material in a pit prepared for a small amount of worthless metal. Kanaka Creek is about three football fields away from the pit. Personal garbage (not ours) and small amount of some liquids were placed in the pit by these ex-employees. JUDICIAL EVENT Nine months later in June 2020, the Company and I were cited for four pollution criminal violations. We are defending this injustice. These are bad actors with deep pockets and will stop at nothing to trash my credibility and take over our beloved mine. It is my responsibility to shareholders to protect and promote the rich history of the mine, our town and the California Gold Rush era, which continued for 30+ years. Of course, we are looking for gold. If these dirty birds win, say good bye to the last real authentic gold mining operation in California and, just as important, any opportunity for kids and young adults to experience what it was like in those golden days of yesteryear. ITEM 1: BUSINESS Description of Business Original Sixteen to One Mine, Inc. (the Company) was incorporated in 1911 in California. It mines gold on properties it owns under fee simple grant deeds. The Alleghany Mining District is about 65 miles northeast of the intersection of I-80 and California State Route 49. Sixteen to One mine from which more than 1,113,266 troy ounces of gold have been retrieved is the primary operation. It is a traditional hard rock underground mine where miners create horizontal levels at various elevations and raise into favorable areas. Geology of the mineral deposit is well documented. Gold is not distributed evenly within the quartz veins; however, concentrations of gold deposits are found scattered within these quartz veins, in recognized ore shoots. Because the gold appears intermittently, the Company has never declared reserves according to contemporary industry standards. Operations are characterized by significant amounts of preparation, tunneling, underground maintenance and upgrading. The Company from time to time focuses substantially all of its resources on infrastructure development or maintenance. During these periods little gold is mined. At other times, miners are primarily exploring for gold. Accordingly, business is subjected to very different cycles: one dependent on whether the Company is directing its resources towards infrastructure or underground development and the other is gold production. The operation resembles the classical "boom or bust" cycles regardless of outside influences. Metal detection technology enables exploration to detect gold from zero to 48 inches from quartz faces in the wall rock.(The size of the concentration is a factor). Advancement in off the shelf metal detection technology has steadily progressed over the past twenty years. Greater sensitivity in metal detectors has historically increased gold production throughout the mine. It is impossible to predict when new devices will be developed. Twenty-first century detection skills have yet to find the Sixteen to One. For accounting purposes gold revenues are accrued when the metal is recovered. For tax purposes revenues are not recognized until the gold is sold. Rare high-grade gold and quartz is sold at a premium to museums, collectors and jewelry manufacturers. This market is a significant financial factor with revenue significantly greater than prevailing spot price. Demand for the Sixteen to One gold quartz gemstone is greater than the amount mined. The Company lacks sufficient funds to implement its long-term construction projects: sinking a new shaft in the center of the property is a long-standing objective. Other Company projects are: joining a public stock exchange, building and testing a gold detector specifically designed for the Sixteen to One vein and dewatering the entire mine. Supplies and equipment used for underground exploration are commonly available. Labor requirements are available, but are a concern throughout the mining industry. No particular seasonality exists for the marketing of gold. Adverse effects of winter storms sometimes limit the ability of the crew to access the mine. Management believes it is in substantial compliance with all applicable federal, state and local laws and regulations relating to the environment. The Company does not presently anticipate any material capital expenditures for environmental control facilities, either for the remainder of its current fiscal year or for the succeeding fiscal year. The Company's executive office is located at 527 Miners Street, Alleghany, California 95910. It maintains two websites: origsix.com and original16to1.com. ITEM 1A RISK FACTORS (a) Price of Gold The daily spot price of gold has a modest effect on gross revenue if it's between $1,000 and $1,300 an ounce. A significant drop below $1,000 may have an adverse effect on the Company's operation. Closing spot price on December 31 2019 was $1,520. The Company's realized gold values usually exceed the bullion price due to the jewelry and specimen markets which are not affected by the spot price of gold. (b) Lack of Proven Reserves Because proven reserves are not utilized as a component for evaluating future earnings or ore values, a sense of uncertainty of existence is perceived by some. Caution is recommended in using the doctrines of reserves as an economic tool for valuing the Sixteen to One mine. While (i) the Company has recovered over one million ounces of gold and (ii) management knows that substantial additional virgin veins exists in the Sixteen to One mine, the Company has no ability to measure potential gold production using the mathematical tools generally recognized in the mining industry; however, the company can prove that approximately seventy percent (70%) of its vein systems have not been developed. (c) Governmental Regulation The attached financial statements have not been audited by a Securities Exchange Commission (SEC) accounting firm. Therefore, the Company is not in full compliance with this SEC regulation for companies listed on an exchange. Mining is generally subjected to regulation. State and federal statutes regulate environmental quality, safety, exploration procedures, reclamation, employee?s health and safety, use of explosives, air quality standards, pollution of stream and fresh water sources, noxious odors, noise, dust, and other environmental protection controls as well as the rights of adjoining property owners. Laws may change preventing or delaying the commencement or continuance of given operations. The Company is substantially in compliance with all known safety and environmental standards and regulations, however; it faces reoccurring unreasonable and unlawful demands from the Central Valley Regional Water Quality Control Board (CVRWCB) or its staff. The Company is forced to expend working capital and time defending excessive and punitive behavior. There can be no assurance that future changes in the laws, regulations or reckless interpretations will not have a material adverse effect. During 2018, CVRWCB staff was invited and accepted invitations to visit the mine property. Ongoing discussions during 2019 have improved the requirements of our 5-year discharge permit. (d) Liquidity Gold inventory at December 31, 2019, was $305,691 primarily as specimens or gold held as jewelry. While history of actual cash sales supports an inventory value exceeding the spot price, no such increases are used to compute the inventory. All inventory of raw material is recorded at spot price per troy ounce. In addition, contract manufacturing costs of jewelry are included in the finished jewelry inventory. Periodic shortfalls in liquidity occur which are not likely to be bridged by institutional debt financing. Management addresses these issues as they arise. (e) Price of Stock Bids and offers are publicly recorded on the stock page of the Company's web site. Exposure is limited. The price of stock may not accurately reflect its fair market value because of the limited marketplace and the existence of a wild and free Gray Market. The company maintains no program to support or promote its stock and is unlikely to conduct a program until a public marketplace is secured. There are conflicting bids, offers and trades between the Company's website and the unregulated Pink Sheet Gray Market, ticker symbol OSTO. Because of these discrepancies the market price is unpredictable. ITEM 2: PROPERTIES Properties The Sixteen to One Mine was incorporated into Original Sixteen to One Mine, Inc. in 1911. Properties acquired prior to 1925 are carried on the Company's books at their original purchase price and are fully amortized through depletion. In 1999, the Company acquired the Plumbago mine in the Alleghany Mining District, which is located approximately two miles southeast of the Sixteen to One mine. The property includes a twenty-acre patented claim, mineral rights to eight patented claims and sixteen unpatented claims. The property has a history of rich gold production. The Company will pursue the potential within this property when funding becomes available for exploration and development. On June 22, 2005, the Company acquired the mineral rights to fourteen claims, the patent rights to one claim and the mill of the Gold Crown mine, adjacent to the Sixteen to One Mine. The Board of Directors decided that it is a long-term investment and important to the long-term welfare of the Company. No depletion has been applied to the Gold Crown or Plumbago properties. The Alleghany properties consist of 26 patented claims (470 acres), 160 acres of mineral rights on patented claims and approximately 320 acres of unpatented claims. The following table sets forth further information with respect to the Company's mining claims. PATENTED MINING CLAIMS OWNED 100% BY THE COMPANY NAME OF CLAIM NAME OF CLAIM Belmont				Rainbow Fraction Number Three 	Twenty-One Eclipse Quartz Eclipse Extension Tightner Extension Contract Alene 		Valentine Red Star 		Bartlett Farnham Gold Quartz Mine Belmont #2 Contract Extension Hanley Quartz Mine Noble 		Sixteen to One Groves Gold Quartz Mine Denver Happy Jack Extension Ophir Rainbow Extension 	Happy Jack Marion Lode 	Sphoon MINERAL RIGHTS - PATENTED CLAIMS NAME OF CLAIM 	NAME OF CLAIM Standard Lode 	Standard Lode Extension Gold Beater Lode 	Clute Lode Hope Extension Lode 	Crafts Lode Plumbago Mine Mill Site Enterprise Quartz UNPATENTED CLAIMS NAME OF CLAIM 	NAME OF CLAIM Alice 		Alice Annex General Sherman N.Ext. Jumbo No Better 	 	No Better Ext. Right Place 		Wonder #1 Wonder #2 		Wonder Goldmines MS Tightner #2 Lode 	Tightner #3 Lode Tightner #4 Lode 	Tightner #5 Lode Tightner #6 Lode 	Alene Ext. Quartz Bartlett Ext. Quartz 	Illocano Quartz East Bartlett Lode 	Bal Quartz ITEM 3: LEGAL PROCEEDINGS See subsequent events on page 3 ITEM 4 MINE SAFETY DISCLOSURES For the twelve-month period ended December 31, 2019 a total of 8 citations were issued with a total assessed value of $1,976. The 8 citations included eight 104(a) S&S citations and no 104(b) orders. All of the citations were contested and a settlement was reached for most of them. ? PART II ITEM 5: MARKET FOR THE REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS Market Information Currently there is no public marketplace for the Company's common stock. Data from 2013 through 2017 is based upon activity on the X-Mart posted on the Company's web-site. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter High Low High Low High Low High Low ------ ----- ------ ----- ------ ----- ------ ----- 2019 NO TRADES ON XMART FOR 2019 2018 NO TRADES ON XMART FOR 2018 2017 $ .52 $ .52 $ * $ * $ .49 $ .49 $ .49 $ .49 2016 * * * * * * .52 .52 2015 * * .44 .44 .56 .56 * * 2014 * * .46 .54 * * .42 .42 2013 .89 .89 .86 .65 * * * * 2012 .49 .49 .49 .49 * * * * 2011 * * .55 .55 * * * * 2010 * * .89 .45 * * .55 .50 * No trades took place on the Company website in these quarters. ITEM 6: SELECTED FINANCIAL DATA Year		 2019	 2018	 2017	 2016		 2015 ---- ---- ---- ---- ---- Sales 228,286 204,570 287,212 1,452,169 1,037,972 Income(loss)(230,933) (359,736) (429,965) 610,160 76,443 Income(loss) per share (.016) (.025) (.03) .04 .01 Total Assets 707,948 862,814 1,127,813 1,537,443 1,757,262 Total Debt 2,230,279 2,152,912 2,062,927 2,042,593 3,060,443 SH Equity (1,522,331) (1,290,098) (935,114) (505,150) (1,303,181) ? ITEM 7: MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION Balance Sheet Original Sixteen to One Mine, Inc. is a distinct company in that 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 for specimen and gem-stone material which is substantially greater than spot price. Jewelry inventory is recorded at labor plus gold cost. 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 2018 with 2019. 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 $359,936 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. (A) Comparisons of 2018 with 2017. Balance Sheet Comparisons Assets: For the one-year period ended December 31, 2018, compared to the one-year period ended December 31, 2017, cash decreased by $3,690 (53%) due to cash flow variations. Accounts receivable decreased by $12,742 (16%) as a customer paid off his account. For the one-year period ended December 31, 2018, compared to the one-year period ended December 31, 2017 inventory decreased by $222,899 (34%) due to changes in mining objectives in 2018 and sales of inventory to fund operations. For the one-year period ended December 31, 2018, compared to the one-year period ended December 31, 2017 equipment decreased by $291,155 as the result of write-offs of fully depreciated equipment. This is offset by corresponding decrease in accumulated depreciation with a net change of $596 as reflected on the statement of cash flows. Liabilities: For the one-year period ended December 31, 2018, compared to the one-year period ended December 31, 2017 accounts payable increased by $77,533 as the company relied on credit to finance the operation. For the one-year period ended December 31, 2018, compared to the one-year period ended December 31, 2017 notes due related parties increased by $28,590 (12%) due to a combination of additional loans and interest expense. For the one-year period ended December 31, 2018, compared to the one-year period ended December 31, 2017 long-term notes decreased by $17,420 (14%) as a result of scheduled payments with no new loans taken out. Statement of Operations Income: For the one-year period ended December 31, 2018 compared to the one-year period ended December 31, 2017, revenue decreased by $82,642 (29%) primarily due to decreased gold sales in 2018. Operating Expenses: For the one-year period ended December 31, 2018, compared to the one-year period ended December 31, 2017, operating expenses decreased overall by $150,515 (22%) due to reduced operations in 2018. Other Income and Expense: For the one-year period ended December 31, 2018, compared to the one-year period ended December 31, 2017 other income decreased by $1,266 (22%) due to less rent collected on a company house. For the one-year period ended December 31, 2018, compared to the one-year period ended December 31, 2017 other expenses increased by $4,709 (14%)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) For the one-year period ended December 31, 2018, compared to the one-year period ended December 31, 2017, interest expense did not change significantly. The company showed a loss of $359,736 in 2018 compared to a loss of $429,965 in 2017. The $70,229 (16%) difference is primarily due to lower operating costs in 2018 as the result of reduced operations compared to 2017. The basic and diluted loss per share was (.025) in 2018 compared to (.03) in 2017. The number of shares used for the 2018 calculation was 14,342,097 and the number of shares for the 2017 calculation was 14,338,855. ITEM 7A: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK From time to time the Original Sixteen to One Mine, Inc. (the Company), will make written and oral forward-looking statements about matters that involve risks and uncertainties that could cause actual results to differ materially from projected results. Important factors that could cause actual results to differ materially include, among others: - Fluctuations in the market prices of gold - General domestic and international economic and political conditions - Unexpected geological conditions or rock stability conditions resulting in cave-ins, flooding, rock-bursts or rock slides - Difficulties associated with managing complex operations in remote areas - Unanticipated milling and other processing problems - The speculative nature of mineral exploration - Environmental risks - Changes in laws and government regulations, including those relating to taxes and the environment - The availability and timing of receipt of necessary governmental permits and approval relating to operations, expansion of operations, and financing of operations - Fluctuations in interest rates and other adverse financial market conditions - Other unanticipated difficulties in obtaining necessary financing with specifications or expectations - Labor relations - Accidents - Unusual weather or operating conditions - Force majeure events - Other risk factors described from time to time in the Original Sixteen to One Mine, Inc., filings with the Securities and Exchange Commission Many of these factors are beyond the Company's ability to control or predict. Investors are cautioned not to place undue reliance on forward-looking statements. The Company disclaims any intent or obligation to update its forward-looking statements, whether as a result of receiving new information, the occurrence of future events or otherwise. ITEM 8: FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA The unaudited financial statements of the Company are attached at the end of this document. ITEM 9: CONTROLS AND PROCEDURES Security procedures include multiple levels of gold custody, from the mine to sales. Inventory control procedures were set up by an SEC certified auditing firm and continue to be followed. PART III ITEM 10: DIRECTORS AND EXECUTIVE OFFICERS OF REGISTRANT Officers and Directors The following table sets forth the Officers and Directors of the Company. The directors listed below will serve until the next annual shareholders meeting to be held on August 31, 2019. All of the officers of the Company serve at the pleasure of the Board of Directors. Name Age Position Officer Since Director Since Michael M. Miller 77 President 1983 1977 & Director Hugh Daniel O'Neill 77 Secretary 2016 2002 & Director Robert Beso 68 Treasurer 2016 2016 & Director Michael M. Miller-Director, President and CEO As President and Chief Executive Officer, Mr. Miller is responsible for the day-to-day operations of the Company. In 1975, Mr. Miller became the sole proprietor of Morning Glory Gold Mines. Prior to that, he was self-employed in Santa Barbara County, California from 1965 to 1974. Mr. Miller served as a trustee and President of the Sierra County Board of Education (1979 to 1983 trustee) (President in 1983). In 1991 he was appointed a member of the Sierra County Planning Commission (Chairman in 1992, 1993, 1999 and 2000) until 2001. Mr. Miller is licensed as a California Class A general engineering contractor. He was a member of the American Institute of Mining Engineers. In 1965, Mr. Miller received a B.A. from the University of California at Santa Barbara in combined Social Sciences-Economics. He was born in Sacramento, California. Hugh Daniel O'Neill III ~ Director, Secretary Mr. O'Neill was born April 21, 1942 at a naval base in Virginia. He was raised in seventeen states over a fourteen-year period, settling in Nevada City, California. He attended the University of San Francisco, where he created Odd Bodkins in 1961. The San Francisco Chronicle syndicated Odd Bodkins in 1963 making Mr. O'Neill the youngest cartoonist ever hired by a national syndicate. It was published in 350 newspapers. At its peak readership was 50 million daily. Dan is an historian, an accomplished journalist and a former War Correspondent. Robert Beso ~ Director, Treasurer Robert John Besso was born in Sacramento. Just out of high school, he drew draft # 32 but joined the US Army 101st Airborne Division where he was assigned to tanks. Once in Vietnam he was promoted to Sargent at age 19 and took POINT for nine months. In 1971 he was decorated with two bronze stars (combat infantry badges): oak leaf cluster and V for valor. He earned Soldier of the Month and was the personal body guard for Officer Coast. He declined the offer to continue his military career at West Point and almost died from malaria. He returned to California attending American River College and El Camino College. Robert decided to cut hair which he has done for thirty-eight years. He has continued to serve our country with 25 years working with Alcoholics Anonymous, Jail and Prison inmates, Boys Ranch and Teen Substance addiction groups. He has and continues to take "point" to protect the things that he values. "Like farmers and ranchers, the miners have value. The Sixteen to One is a reality and will work to reduce the ignorance about mining." ITEM 11: EXECUTIVE COMPENSATION Name/ Principal Annual Position Year Salary Bonus Compensation Securities --------- ------ ------ ----- ------------ ---------- Michael Miller/ 2018 $ 60,000 0 0 		 0 President & CEO 2017 $ 60,000 0 0 	 0 2016 $ 60,000 0 0 0 ITEM 12: SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT Security Ownership of Certain Beneficial Owners and Management Title of Name and Address Amount and Nature Percent Class of Beneficial Owner of Beneficial Owner of Class ------- ------------------- ------------------- -------- Common Michael M. Miller 2,123,597 15% Officer and Director P.O. Box 941 Alleghany, CA 95910 Common M. Blair Hull 1,962,822 14% Hull Trading Co. 401 So. LaSalle, Ste. 505 Chicago, IL 60605 Common Kathy N. Hull 1,490,250 10% 11 Sierra Ave. Piedmont, CA 94611 Common Charles I. Brown Family Partnership LTD 833,668 6% 29922 N 133rd Lane Peoria, CO 85383 Common Hugh Daniel O'Neill 143,077 1% Director - Secretary 227 Prospect St. Nevada City, CA 95959 Common Robert Beso 7,500 .1% Director - Treasurer PO Box 909 Alleghany, CA 95910 Common All Officers & Directors 2,274,174 16% (as a group) ITEM 13: CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS See notes to financial statements. ITEM 14: PRINCIPLE ACCOUNTING FEES AND SERVICES Due to monetary constraints, the Company has not hired a SEC certified CPA firm for several years. Most accounting functions are performed by the Company in-house with the exception of the depreciation schedule and tax returns which are handled by outside CPA firms. PART IV ITEM 15: UNAUDITED FINANCIAL STATEMENTS In the opinion of management, the financial statements contain all adjustments (consisting only of normal recurring accruals) necessary to present fairly the Company's financial position at December 31, 2019 and December 31, 2018, the results of operations and cash flows for the twelve-month periods ended December 30, 2017, 2018 and 2019. The unaudited financial statements have been prepared in accordance with Generally Accepted Accounting Principles. SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this Annual Report to be signed on its behalf by the undersigned, thereunto duly authorized. ORIGINAL SIXTEEN TO ONE MINE, INC. Registrant By: Michael M. Miller President and Director Date April 18, 2020 ? Original Sixteen to One Mine, Inc. Condensed Balance Sheet December 31, 2019 & December 31, 2018 ASSETS 2019 2018 Current Assets Cash $ 4,433 $ 3,296 Accounts receivable 56,525 67,175 Inventory (see Note 1) 305,691 429,329 Other current assets - - ------- ------- Total current assets 366,649 499,800 ------- ------- Mining Property Real estate and property rights net of depletion of $524,145 230,401 230,401 Mineral property 47,976 47,976 ------- ------- Total Mining Property (see Note 2) 278,377 278,377 ------- ------- Fixed Assets at Cost Equipment 597,602 594,152 Buildings 209,487 209,487 Vehicles 168,925 168,925 --------- --------- Total fixed assets at cost 976,014 972,564 --------- --------- Less accumulated depreciation (927,961) (909,387) ----------- ----------- Net fixed assets 48,053 63,177 ----------- ----------- Other Assets Bonds and misc. deposits 14,869 21,460 --------- ------- Total Assets $ 707,948 $ 862,814 ========== ========== ? Original sixteen to One Mine, Inc. Condensed Balance Sheet Continued LIABILITIES & STOCKHOLDERS' EQUITY 2019 2018 Current Liabilities Accounts payable & accrued expenses (see Note 3) $ 1,342,718 1,274,559 Due to related party (see Note 4) 247,911 229,472 Notes payable Short-term (see Note 6) 538,558 538,558 --------- ------- Total Current Liabilities 2,129,187 2,042,589 -------- ------- Long Term Liabilities Notes payable due after one year (see Note 7) 101,092 110,323 -------- ------- Total Liabilities 2,230,279 2,152,912 ---------- --------- Stockholders' Equity Capital stock, par value $.033: 30,000,000 shares authorized: 14,390,631 issued and outstanding as of Dec. 31, 2019 & 14,342,097 as of Dec. 31, 2018(see Note 8) 474,891 473,289 Additional paid-in capital 2,221,290 2,222,892 (Accumulated deficit) Retained earnings (4,218,512) (3,986,279) ------------ ----------- Total Stockholders' Equity (1,522,331) (1,290,098) ------------ ----------- Total Liabilities and Stockholders' Equity $ 707,948 $862,814 ============ ============ ? Original Sixteen to One Mine, Inc. Statement of Operations 2019 2018 2017 Revenues: Gold & jewelry sales 228,286 156,570 191,212 Other Income - 48,000 96,000 --------- -------- ------- - Total Revenues 228,286 204,570 287,212 Operating expenses: Salaries and wages 60,000 60,000 60,000 Contract Labor 163,855 239,601 272,095 Utilities 85,829 87,178 82,855 Taxes - property & payroll 18,028 17,584 18,093 Insurance 5,275 4,755 5,541 Supplies 17,560 20,608 29,335 Small equipment & repairs 9,981 9,240 26,404 Drayage 15,993 20,610 14,750 Corporate expense 11,767 9,317 11,419 Legal and compliance 15,652 13,577 17,908 Mine Maintenance 14,111 22,024 115,135 Depreciation & amortization 18,573 25,371 26,175 Other expenses 7,811 5,178 5,848 -------- -------- -------- Total operating expenses 444,435 535,043 685,558 Profit (Loss) from operations (216,149) (330,473) (398,346) Other Income & (Expense): Other Income 2,800 4,595 5,861 Interest Expense (15,277) (27,594) (27,609) Other expense (1,507) (5,464) (740) --------- -------- --------- Total Other Income (Expense) (13,984) (28,463) (22,488) Profit (Loss) before taxes (230,133) (358,936) (420,834) Provision for income taxes 800 800 9,131 Net (loss) income $ (230,933)(359,736) (429,965) ========== ========== ========= Basic and diluted gain (loss) per share $(.016) $(.025) $(.03) Shares used in the calculation of net(loss) income per share 14,390,631 14,342,097 14,338,855 ========== ========= ========= ? Original Sixteen to One Mine, Inc. Statement of Cash Flow For the Years Ended December 31, 2019 2018 2017 Cash Flows From Operating Activities: Net profit (loss) $ (230,933) (359,736) (429,965) Operating activities: Depreciation and amortization 18,573 25,371 26,175 Decrease(Increase) in accounts receivable 29,501 12,742 25,501 Decrease(Increase) in inventory 123,638 222,899 357,985 (Decrease) Increase in accounts payable accrued expenses 66,859 77,533 9,106 (Decrease) Increase in related party loans (411) 28,590 25,349 (Decrease) Increase in short-term notes - 1,282 2,585 -------- ------- --------- Net cash (used) provided by operating activities 7,227 8,681 16,736 Cash Flows From Investing Activities: Sale (Purchase) of Real Estate - - - Write-off (Purchase) of fixed assets (3,450) 596 - Decrease (Increase) Bonds Misc. deposits 6,591 - - --------- -------- -------- Net cash (used) provided by investing activities - 596 - Cash Flows From Financing Activities Increase (Decrease) notes payable (9,231) (17,420) (16,706) Proceeds from sale of common stock - 4,453 - Paid in Capital from Shareholders - - - -------- -------- -------- Net cash provided (used) by financing activities (9,231	) (12,967) (16,706) (Decrease)increase in cash 1,137 (3,690) 180 Cash, beginning of period 3,296 6,986 6,956 ------ ------- -------- Cash, end of period $ 4,433 3,296 7,136 ========= ========= ======== ? NOTES TO THE FINANCIAL STATEMENTS 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Business: Original Sixteen to One Mine, Inc. (the Company) was incorporated in 1911 and is actively involved in operating a gold mine in Alleghany, California. In accordance with directive from the Securities and Exchange Commission (SEC)and Industry Guide 7, reference for all intent and purposes to the Company's employees as miners, its properties as mines or its operation as mining does not diminish the fact that the Company has no proven reserves and is in the "exploration state" as defined in Guide 7(a)(4)(iii). Inventory: Inventory consists of gold bullion, specimens and jewelry. Gold bullion and specimens are quoted at the market price for gold bullion. Jewelry is quoted at the market price for the gold content plus labor cost. Inventory is accounted for using the Average Cost method due to the limitations of the Company's accounting software. Valuation adjustments to account for changes in the price of gold are made quarterly. Fixed Assets: Fixed assets are stated at historical cost. Depreciation is calculated using straight-line and accelerated methods over the following useful lives: Vehicles 3 to 5 years, Equipment 5 to 7 years, Buildings 18 to 31.5 years. Depletion Policy: Because of the geological formation in the Alleghany Mining District, estimates of ore reserves cannot be calculated. Accordingly, a cost per unit depletion factor cannot be determined. Should estimates of ore reserves become available, the units of production method of depletion will be used. Until such time, no depletion deduction will be recorded. Revenue Recognition: As it is mined, gold is recorded in inventory and revenue is recognized using quoted market prices for gold. For income tax purposes revenues are not recognized until the gold is sold. Use of Estimates: The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. ? 2. PROPERTY The company's original property is carried at the 1924 value of $628,662 and has been fully amortized through depletion charges of $524,145. Other properties included in the "real estate and property rights" category are a lot purchased in 1984 for $1,000, Surface rights purchased at the townsite auction in 1996 for $76,574 and $48,310 for the Sphoon Mine which is patented property included with the purchase of the Gold Crown Mine in 2005. The category "mineral property" includes the Plumbago Mine which was exchanged for 50,000 shares of restricted stock in 1999. 3. ACCOUNTS PAYABLE & ACCRUED EXPENSES Accounts payable and accrued expenses was $1,342,718 at December 31, 2019. This balance includes $804,852 in accrued wages owed to Michael Miller. Mr. Miller's salary has been mostly accrued (not paid) for over ten years and is secured with real estate. 4. NOTES PAYABLE RELATED PARTIES Notes payable related parties at December 31, 2019 of $247,911 consists of a loan from a shareholder in the amount of $203,458 secured by gold and $35,425 owed to Michael Miller. 5. RELATED PARTY TRANSACTIONS None 6. NOTES PAYABLE SHORT-TERM Notes payable short-term of $538,558 at December 31, 2018 consists of a $500,000 interest-free line of credit as well as accrued interest on a previous loan. There is no specific due date on these loans which are convertible to stock at $1.00 per share. 7. NOTES PAYABLE Notes payable due after one-year totaling $101,092 consists of the balance remaining on the mortgage for the Gold Crown Mine of $97,236 as well as $3,855 remaining on a note secured in 2014 for the purchase of a vehicle. 8. STOCK Capital authorized: 30,000,000 non-assessable shares of common stock, par value $.033. Issued and outstanding: 14,390,631 shares of common stock. With approx. 3 Million of the total restricted. Restricted common stock cannot be sold within two years of the issuance date. After the required holding period, the shareholder can take steps to remove the indicated restriction. 10