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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_____________
FORM 10-QSB
_____________
(Mark One)
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the quarterly period ended June 30, 2005
[_] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the transition period ____________ to ____________
Commission file number 33-00215
UNITED STATES ANTIMONY CORPORATION
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(Name of small business issuer in its charter)
MONTANA 81-0305822
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
P.O. BOX 643, THOMPSON FALLS, MONTANA 59873
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (406) 827-3523
Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 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 [_]
At August 11, 2005, the registrant had outstanding 32,592,483 shares of par
value $0.01 common stock.
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UNITED STATES ANTIMONY CORPORATION
QUARTERLY REPORT ON FORM 10-QSB
FOR THE QUARTERLY PERIOD
ENDED JUNE 30, 2005
TABLE OF CONTENTS
Page
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PART I - FINANCIAL INFORMATION
Item 1: Financial Statements..................................................1
Item 2: Management's Discussion and Analysis of Financial
Condition and Results of Operations...................................6
Item 3: Controls and Procedures...............................................9
PART II - OTHER INFORMATION
Item 1: Legal Proceedings.....................................................9
Item 2: Changes in Securities.................................................9
Item 3: Defaults upon Senior Securities.......................................9
Item 4: Submission of Matters to a Vote of Security Holders...................9
Item 5: Other Information.....................................................9
Item 6: Exhibits and Reports on Form 8-K......................................9
SIGNATURE....................................................................10
CERTIFICATIONS...............................................................11
[The balance of this page has been intentionally left blank.]
PART I-FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
UNITED STATES ANTIMONY CORPORATION AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
JUNE 30, DECEMBER 31,
2005 2004
------------ ------------
ASSETS
Current assets:
Cash $ 113,764 $ 11,642
Accounts receivable, less allowance for doubtful accounts
of $30,000 103,468 56,774
Inventories 234,368 237,806
------------ ------------
Total current assets 451,600 306,222
Investment in USAMSA, net 1,763 3,527
Properties, plants and equipment, net 835,536 683,003
Restricted cash for reclamation bonds 89,417 91,512
Deferred financing costs, net amortization 18,750 22,500
------------ ------------
Total assets $ 1,397,066 $ 1,106,764
============ ============
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities:
Accounts payable $ 627,082 $ 441,085
Accrued payroll and related taxes 120,566 102,428
Other accrued liabilities 71,607 76,385
Deferred revenue 0 30,000
Accrued interest payable 45,470 30,890
Payable to related parties 293,250 287,687
Long-term debt, current 47,117 30,235
Accrued reclamation costs, current 71,250 100,000
------------ ------------
Total current liabilities 1,276,342 1,098,710
Convertible notes payable 350,000 350,000
Long-term debt, noncurrent 644,955 636,695
Accrued reclamations costs, noncurrent 71,250 42,500
------------ ------------
Total liabilities 2,342,547 2,127,905
------------ ------------
Commitments and contingencies (Note 3) Stockholders' deficit:
Preferred stock, $0.01 par value, 10,000,000 shares authorized:
Series A: None and 4,500 shares issued and outstanding 0 45
Series B: 750,000 shares issued and outstanding 7,500 7,500
Series C: 177,904 shares issued and outstanding 1,779 1,779
Series D: 1,899,672 shares issued and outstanding 18,996 18,996
Common stock, $0.01 par value, 50,000,000 shares authorized;
32,475,483 issued and outstanding 324,755 315,289
Additional paid-in capital 18,373,278 18,117,824
Accumulated deficit (19,671,789) (19,482,574)
------------ ------------
Total stockholders' deficit (945,481) (1,021,141)
------------ ------------
Total liabilities and stockholders' deficit $ 1,397,066 $ 1,106,764
============ ============
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THE FINANCIAL STATEMENTS.
1
UNITED STATES ANTIMONY CORPORATION AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
FOR THE THREE MONTHS ENDED FOR THE SIX MONTHS ENDED
---------------------------- ----------------------------
JUNE 30, JUNE 30, JUNE 30, JUNE 30,
2005 2004 2005 2004
------------ ------------ ------------ ------------
Revenues:
Sales of antimony products $ 633,505 $ 510,324 $ 1,356,040 $ 1,092,739
Sales of zeolite products 377,689 342,013 687,678 537,099
------------ ------------ ------------ ------------
1,011,194 852,337 2,043,718 1,629,838
------------ ------------ ------------ ------------
Cost of sales:
Cost of antimony production 508,742 442,614 992,446 849,235
Antimony depreciation 10,300 10,300 20,600 20,600
Antimony freight and delivery 41,960 35,526 92,344 79,683
Cost of zeolite production 239,770 192,320 498,165 346,920
Zeolite depreciation 18,200 13,800 36,400 27,600
Zeolite freight and delivery 26,289 115,843 48,851 130,514
------------ ------------ ------------ ------------
845,261 810,403 1,688,806 1,454,552
------------ ------------ ------------ ------------
Gross profit 165,933 41,934 354,912 175,286
------------ ------------ ------------ ------------
Other operating expenses:
Corporate general and administrative 45,639 48,316 127,076 129,944
Antimony general and administrative 33,694 13,688 39,927 22,600
Antimony sales expenses 13,219 11,805 26,985 25,873
Bear River Zeolite general and administrative 85,949 18,789 157,248 89,950
Bear River Zeolite sales expenses 44,517 15,428 63,986 34,592
------------ ------------ ------------ ------------
223,018 108,026 415,222 302,959
------------ ------------ ------------ ------------
Other (income) expense:
USAMSA expense 882 0 1,764 0
Interest expense 38,363 30,473 73,849 57,785
Factoring expense 25,686 20,964 53,945 40,243
Interest income and other (321) (1,977) (653) (2,463)
------------ ------------ ------------ ------------
64,610 49,460 128,905 95,565
------------ ------------ ------------ ------------
Net loss $ (121,695) $ (115,552) $ (189,215) $ (223,238)
============ ============ ============ ============
Basic net loss per share of common stock $ Nil $ Nil $ Nil $ Nil
============ ============ ============ ============
Basic weighted average shares outstanding 31,912,670 30,435,217 31,731,925 29,512,745
============ ============ ============ ============
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THE FINANCIAL STATEMENTS.
2
UNITED STATES ANTIMONY CORPORATION AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
FOR THE SIX MONTHS ENDED
----------------------------
JUNE 30 JUNE 30,
2005 2004
------------ ------------
Cash flows from operating activities:
Net loss $ (189,215) $ (223,238)
Adjustments to reconcile net loss to
net cash provided (used) by operating activities:
Depreciation and amortization 62,514 52,750
Change in:
Restricted cash 2,095 105,649
Accounts receivable (46,694) 8,530
Inventories 3,438 12,917
Accounts payable 185,997 (199,727)
Accrued payroll and related taxes 18,138 (39,178)
Other accrued liabilities (4,778) 2,239
Judgment payable 1,700
Deferred revenue (30,000) 0
Accrued interest payable 14,580 2,961
Payable to related parties 5,563 9,743
------------ ------------
Net cash provided (used) by operating activities 21,638 (265,654)
------------ ------------
Cash flows from investing activities:
Purchase of properties, plants and equipment (209,533) (127,289)
------------ ------------
Net cash used by investing activities (209,533) (127,289)
------------ ------------
Cash flows from financing activities:
Proceeds from issuance of common stock and warrants 264,875 397,214
Principle payments on notes payable to bank (57,877) (142,090)
Proceeds from notes payable to bank 58,019 122,121
Proceeds from related party note payable 25,000 0
Change in checks issued and payable 0 15,698
------------ ------------
Net cash provided by financing activities 290,017 392,943
------------ ------------
Net change in cash 102,122 0
Cash, beginning of period 11,642 0
------------ ------------
Cash, end of period $ 113,764 $ 0
============ ============
Supplemental disclosures:
Non-cash investing activities:
Series A preferred stock converted to common stock $ 45
============
Non cash financing activities:
Common stock issued in satisfaction of accounts payable $ 150,145
============
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THE FINANCIAL STATEMENTS.
3
PART I - FINANCIAL INFORMATION, CONTINUED:
UNITED STATES ANTIMONY CORPORATION AND SUBSIDIARY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
1. BASIS OF PRESENTATION:
The unaudited consolidated financial statements have been prepared by the
Company in accordance with accounting principles generally accepted in the
United States of America for interim financial information, as well as the
instructions to Form 10-QSB. Accordingly, they do not include all of the
information and footnotes required by accounting principles generally
accepted in the United States of America for complete financial statements.
In the opinion of the Company's management, all adjustments (consisting of
only normal recurring accruals) considered necessary for a fair presentation
of the interim financial statements have been included. Operating results
for the three-month period ended June 30, 2005 are not necessarily
indicative of the results that may be expected for the full year ending
December 31, 2005. Certain consolidated financial statement amounts for the
three-month period ended June 30, 2004 have been reclassified to conform to
the 2005 presentation. These reclassifications had no effect on the net loss
or accumulated deficit as previously reported.
For further information refer to the financial statements and footnotes
thereto in the Company's Annual Report on Form 10-KSB for the year ended
December 31, 2004.
2. LOSS PER COMMON SHARE:
The Company accounts for its income (loss) per common share according to
Statement of Financial Accounting Standards No. 128 "Earnings Per Share"
("SFAS No. 128"). Under the provisions of SFAS No. 128, primary and fully
diluted earnings per share are replaced with basic and diluted earnings per
share. Basic earnings per share is arrived at by dividing net income (loss)
available to common stockholders by the weighted average number of common
shares outstanding, and does not include the impact of any potentially
dilutive common stock equivalents. Common stock equivalents, including
warrants to purchase the Company's common stock and common stock issuable
upon the conversion of debentures, are excluded from the calculations when
their effect is antidilutive.
3. COMMITMENTS AND CONTINGENCIES:
Until 1989, the Company mined, milled and leached gold and silver in the
Yankee Fork Mining District in Custer County, Idaho. In 1994, the U.S.
Forest Service, under the provisions of the Comprehensive Environmental
Response Liability Act of 1980 ("CERCLA"), designated the cyanide leach
plant as a contaminated site. In 1996, the Idaho Department of Environmental
Quality requested that the Company sign a consent decree related to
completing the reclamation and remediation at the Preachers Cove mill. The
Company has been diligently reclaiming the property and anticipates it will
have the reclamation complete in the near term.
In November of 2001, the Environmental Protection Agency ("EPA") listed two
by-products of the Company's antimony oxide manufacturing process as
hazardous wastes under subtitle C of the Resource Conservation and Recovery
Act ("RCRA"), and emergency notification requirements for releases to the
environment under CERCLA. On November 26, 2002, the Company received a
notice of violation related to a hazardous waste discharge that was
discovered during a hazardous waste compliance evaluation inspection
conducted at the Company's Thompson Falls antimony facility. In response to
the notice, the Company removed certain antimony materials from its
production area and agreed to ensure that future releases of hazardous waste
would not occur. At June 30, 2005, management believes that no additional
liability will result from the violation.
4
UNITED STATES ANTIMONY CORPORATION AND SUBSIDIARY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED), CONTINUED:
3. COMMITMENTS AND CONTINGENCIES, CONTINUED:
The Company's management believes that USAC is currently in substantial
compliance with environmental regulatory requirements and that its accrued
environmental reclamation costs are representative of management's estimate
of costs required to fulfill its reclamation obligations. Such costs are
accrued at the time the expenditure becomes probable and the costs can
reasonably be estimated. The Company recognizes, however, that in some cases
future environmental expenditures cannot be reliably determined due to the
uncertainty of specific remediation methods, conflicts between regulating
agencies relating to remediation methods and environmental law
interpretations, and changes in environmental laws and regulations. Any
changes to the Company's reclamation plans as a result of these factors
could have an adverse affect on the Company's operations. The range of
possible losses in excess of the amounts accrued cannot be reasonably
estimated at this time.
4. BUSINESS SEGMENTS
The Company has two operating segments, antimony and zeolite. Management
reviews and evaluates the operating segments exclusive of interest and
factoring expenses. Therefore, interest expense is not allocated to the
segments. Selected information with respect to segments for the quarters
ended June 30, 2005 and 2004 are as follows:
2005 2004
------------ ------------
Revenues:
Antimony $ 633,505 $ 510,324
Zeolite 377,689 342,013
------------ ------------
$ 1,011,194 $ 852,337
============ ============
Cost of sales:
Production and freight and delivery:
Antimony $ 550,702 $ 478,140
Zeolite 266,059 308,163
Depreciation:
Antimony 10,300 10,300
Zeolite 18,200 13,800
------------ ------------
$ 845,261 $ 810,403
============ ============
Gross profit (loss) $ 165,933 $ 41,934
============ ============
Other operating expenses:
Sales expense:
Antimony $ 13,219 $ 11,805
Zeolite 44,517 15,428
General and administrative expense:
Corporate 45,639 48,316
Antimony 33,694 13,688
Zeolite 85,949 18,789
------------ ------------
$ 223,018 $ 108,026
============ ============
Capital expenditures:
Antimony $ 0 $ 19,700
Zeolite 100,721 58,218
------------ ------------
$ 100,721 $ 77,918
============ ============
Properties, plant and equipment, net $ 835,536 $ 683,003
============ ============
5
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
GENERAL
This report contains both historical and prospective statements concerning
the Company and its operations. Prospective statements (known as
"forward-looking statements") may or may not prove true with the passage of
time because of future risks and uncertainties. The Company cannot predict
what factors might cause actual results to differ materially from those
indicated by prospective statements.
RESULTS OF OPERATIONS
FOR THE THREE-MONTH PERIOD ENDED JUNE 30, 2005 COMPARED TO THE THREE-MONTH
PERIOD ENDED JUNE 30, 2004
The Company's operations resulted in a net loss of $121,695 for the
three-month period ended June 30, 2005, which is comparable with the net
loss of $115,552 for the same period ended June 30, 2004.
Total revenues from antimony product sales for the second quarter of 2005
were $ 633,505 compared with $510,324 for the comparable quarter of 2004, an
increase of $123,181. During the three-month period ended June 30, 2005, 45%
of the Company's antimony product sales were from sales to one customer
(Kohler, Co.) and 18% were from sales to a second customer (Sarnafil). Sales
of antimony products during the second quarter of 2005 consisted of 406,657
pounds at an average sale price of $1.56 per pound. During the second
quarter of 2004 sales of antimony products consisted of 326,465 pounds at an
average sale price of $1.56 per pound.
Sales of zeolite products during the second quarter of 2005 were $377,689
compared with second quarter sales in 2004 of $342,013. The increase in
sales for the second quarter of 2005 compared to the same quarter of 2004
was due to the Company's marketing efforts and a corresponding increase in
the number of zeolite customers. During the three month period ended June
30, 2005 sales of zeolite products consisted of 4,108 tons compared to 1,976
tons for the same period in 2004.
Gross profit from antimony and zeolite sales during the second quarter of
2005 was $165,933 compared with gross profit of $41,934 during the second
quarter of 2004.
The cost of antimony sales was $508,742, or $1.25 per pound sold, during the
second quarter of 2005 compared to $442,614 or $1.36 per pound sold, during
the second quarter of 2004. The increase was due to increased volume of
production.
The cost of zeolite sales was $239,770 for the second quarter of 2005
compared to $192,320 during the second quarter of 2004. The increase in cost
of zeolite sales during the second quarter of 2005 is related to the
increase in sales.
Antimony depreciation for the second quarter of 2005 was $10,300 compared to
$10,300 for the second quarter of 2004.
Zeolite depreciation for the second quarter of 2005 was $18,200 compared to
$13,800 for the second quarter of 2004. The increase in depreciation is due
to the continued purchase of capital assets associated with zeolite
production.
Antimony freight and delivery for the second quarter of 2005 was $41,960 and
was comparable to $35,526 of freight and delivery expense during the second
quarter of 2004.
Zeolite freight and delivery for the second quarter of 2005 was $26,289
compared to $115,843 for the second quarter of 2004. The decrease from 2004
to 2005 is due to customers transporting their own product as opposed to the
Company paying to have it shipped.
6
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS, CONTINUED:
During the second quarter of 2005, the Company incurred costs totaling
$85,949 associated with general and administrative expenses of its 100%
owned subsidiary, Bear River Zeolite Company, compared to $18,789 of such
expenses in the comparable quarter of 2004. The increase is due to an
increase in royalties that correspond to an increase in sales.
Zeolite sales expenses were $44,517 during the second quarter of 2005
compared to $15,428 during the second quarter of 2004.
General and administrative expenses in the antimony division were $33,694
during the second quarter of 2005 compared to $13,688 during the same
quarter of 2004.
Antimony sales expenses were $13,219 in the second quarter of 2005 and were
comparable with $11,805 during the second quarter of 2004.
Interest expense of $38,363 was incurred during the second quarter of 2005
compared to $30,473 during the second quarter of 2004.
Accounts receivable factoring expense was $25,686 during the second quarter
of 2005 compared to $20,964 during the second quarter of 2004. The increase
was primarily due to an increase in sales.
Interest and other income decreased from $1,977 during the second quarter of
2004 to $321 during the second quarter of 2005. The decrease was the result
of less funds invested during the second quarter of 2005.
FOR THE SIX-MONTH PERIOD ENDED JUNE 30, 2005 COMPARED TO THE SIX-MONTH
PERIOD ENDED JUNE 30, 2004
The Company's operations resulted in a net loss of $189,215 for the
six-month period ended June 30, 2005 compared with a net loss of $223,238
for the six-month period ended June 30, 2004. The decrease in net loss for
the first six months of 2005 as compared to the first six months of 2004 is
due to increased sales prices of antimony oxide and an increase in sales of
zeolite during the first six months of 2005.
Total revenues from antimony product sales for the first six months of 2005
were $1,356,040 compared with $1,092,739 for the comparable period of 2004,
an increase of $263,301. During the six-month period ended June 30, 2005,
54% of the Company's revenues from antimony products sales were from sales
to one customer (Kohler Co.).
Sales of zeolite products during the first six months of 2005 were $687,678
compared with the first six months of 2004 of $537,099. The increase in
sales for the first six months in 2005 compared to the same period of 2004
was due to the Company's marketing efforts and a corresponding increase in
the number of zeolite customers. During the six-month period ended June 30,
2005 sales of zeolite products consisted of 7,682 tons compared to 4,441
tons for the same period in 2004.
Gross profit from antimony and zeolite sales during the first six months of
2005 was $354,912 compared with gross profit of $175,286 during the first
six months of 2004.
The cost of antimony sales was $992,446 during the first six months of 2005
compared to $849,235, during the first six months of 2004. The increase was
due to increased volume of production and sales.
The cost of zeolite sales was $498,165 for the first six months of 2005
compared to $346,920 during the first six months of 2004. The increase in
cost of zeolite sales during 2005 is related to the increase in sales.
Antimony depreciation for the first six months of 2005 was $20,600 compared
to $20,600 for the first six months of 2004.
Zeolite depreciation for the first six months of 2005 was $36,400 compared
to $27,600 for the first six months of 2004. The increase in depreciation is
due to the continued purchase of capital assets associated with zeolite
production.
7
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS
AND FINANCIAL CONDITION, CONTINUED:
Antimony freight and delivery for the first six months of 2005 was $92,344
compared to $79,683 of freight and delivery expense during the first six
months of 2004. The increase corresponds to the increase in antimony sales
and an increase in fuel prices.
Zeolite freight and delivery for the first six months of 2005 was $48,851
compared to $130,514 for the first six months of 2004. The decrease from
2004 to 2005 is due to customers transporting their own product as opposed
to the Company paying to have it shipped.
During the first six months of 2005, the Company incurred costs totaling
$157,248 associated with general and administrative expenses of its 100%
owned subsidiary, Bear River Zeolite Company, compared to $89,950 of such
expenses in the comparable period of 2004. The increase is due to royalties
included in the general and administrative expenses during 2005.
Zeolite sales expenses were $63,986 during the first six months of 2005
compared to $34,592 during the first six months of 2004. The increase
corresponds to the increase in sales.
General and administrative expenses in the antimony division were $39,927
during the first six months of 2005 compared to $22,600 during the same
period of 2004. The increase is due to expenses related to researching a new
antimony operations in Coaluila, Mexico.
Antimony sales expenses were $26,985 in the first six months of 2005 and
were comparable with $25,873 during the first six months of 2004.
Interest expense of $73,849 was incurred during the first six months of 2005
compared to $57,785 during the first six months of 2004. The increase
corresponds to an increase in the amount of debt the Company has
outstanding.
Accounts receivable factoring expense was $53,945 during the first six
months of 2005 compared to $40,243 during the first six months of 2004. The
increase was primarily due to an increase in sales.
Interest and other income decreased from $2,463 during the first six months
of 2004 to $653 during the first six months of 2005. The decrease was the
result of less funds invested during the first six months of 2005.
FINANCIAL CONDITION AND LIQUIDITY
At June 30, 2005, Company assets totaled $1,397,066, and there was a
stockholders' deficit of $945,481. The stockholders' deficit decreased
$75,660 from December 31, 2004. At June 30, 2005 the Company's total current
liabilities exceeded its total current assets by $824,742. Due to the
Company's operating losses, negative working capital, and stockholders'
deficit, the Company's independent accountants included a paragraph in the
Company's 2004 financial statements relating to a going concern uncertainty.
To continue as a going concern the Company must generate profits from its
antimony and zeolite sales and acquire additional capital resources through
the sale of its securities or from short and long-term debt financing.
Without financing and profitable operations, the Company may not be able to
meet its obligations, fund operations and continue in existence. While
management is optimistic that the Company will be able to sustain profitable
operations and meet its financial obligations, there can be no assurance of
such.
Cash provided by operating activities during the first six months of 2005
was $21,638.
8
Cash used in investing activities during the first six months of 2005 was
$209,533 and related to the construction of capital assets at the Bear River
Zeolite facility.
Net cash provided by financing activities was $290,017 during the first six
months of 2005, and was primarily generated from an increase in proceeds
from the issuance of common stock and warrants.
ITEM 3. CONTROLS AND PROCEDURES
An evaluation was performed by the Company's president and principal
financial officer of the effectiveness of the design and operation of our
disclosure controls and procedures. Based on that evaluation, the Company's
president and principal financial officer concluded that disclosure controls
and procedures were effective as of June 30, 2005, in ensuring that all
material information required to be filed in this quarterly report has been
made known to him in a timely fashion.
There has been no change in our internal controls over financial reporting
during the quarter ended June 30, 2005 that has materially affected, or is
reasonable likely to materially affect, our internal controls over financial
reporting.
PART II - OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
None
ITEM 2. CHANGES IN SECURITIES
Neither the constituent instruments defining the rights of the registrant's
securities filers nor the rights evidenced by the registrant's outstanding
common stock have been modified, limited or qualified.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
The registrant has no outstanding senior securities.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
None
ITEM 5. OTHER INFORMATION
None
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
None
Reports on Form 8-K None
9
SIGNATURE
---------
Pursuant to the requirements of Section 13 or 15(b) of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.
UNITED STATES ANTIMONY CORPORATION
(Registrant)
By: /s/ John C. Lawrence Date: August 12, 2005
-----------------------------------------------------
John C. Lawrence, Director and President
(Principal Executive, Financial and Accounting Officer)
10