FORM 10-QSB

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended April 30, 2007

[   ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT
For the transition period from _____________ to _____________

Commission file number: 000-27667

Metalline Mining Company
(Exact name of small business issuer as specified in its charter)
 
Nevada
91-1766677
(State or other jurisdiction
of incorporation or organization)
(IRS Employer Identification No.)
 
1330 E. Margaret Ave.
Coeur d'Alene, ID 83815
(Address of principal executive offices)

Issuer's telephone number, including area code: (208) 665-2002


Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 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 o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No x

There were 37,053,733 shares of the issuer's common stock, par value $0.01, outstanding as of June 12, 2007.

Transitional Small Business Disclosure Format (Check one): Yes o No x


 
METALLINE MINING COMPANY
QUARTERLY REPORTON FORM 10-QSB
FOR THE QUARTERLY PERIOD ENDED APRIL 30, 2007

INDEX TO CONSOLIDATED FINANCIAL STATEMENTS

 
 
PAGE
   
Consolidated Financial Statements:
 
   
Consolidated Balance Sheets as of April 30, 2007 and October 31, 2006
F-2
   
Consolidated Statements of Operations for the six-month periods ended April 30, 2007 and April 30, 2006 and for the period from inception (November 8, 1993) to April 30, 2007
F-3
   
Consolidated Statements of Cash Flow for the six-month periods ended April 30, 2007 and April 30, 2006, and for the period from inception (November 8, 1993) to April 30, 2007
F-4
   
Condensed Notes to Consolidated Financial Statements
F-9
 
F-1


METALLINE MINING COMPANY
(AN EXPLORATION STAGE COMPANY)
CONSOLIDATED BALANCE SHEETS


   
April 30,
 
October 31,
 
   
2007
 
2006
 
ASSETS
 
(Unaudited)
     
           
CURRENT ASSETS
             
Cash and cash equivalents
 
$
6,844,346
 
$
689,994
 
Marketable securities
   
2,500,000
   
5,925,000
 
Accounts receivable
   
32,640
   
35,934
 
Tax refunds receivable
   
501,032
   
-
 
Other receivables
   
29,343
   
-
 
Employee advances
   
1,903
   
-
 
Prepaid expenses
   
29,855
   
14,288
 
Total Current Assets
   
9,939,119
   
6,665,216
 
               
PROPERTY CONCESSIONS
             
Sierra Mojada, Mojada 3
   
15,875
   
15,875
 
Fortuna
   
76,725
   
76,725
 
Esmeralda
   
255,647
   
255,647
 
Esmeralda I
   
180,988
   
180,988
 
U.M. Nortenos, Vulcano
   
3,682,772
   
3,682,772
 
La Blanca
   
122,760
   
122,760
 
Total Property Concessions
   
4,334,767
   
4,334,767
 
               
EQUIPMENT
             
Office and mining equipment, net
   
592,533
   
611,966
 
Total Equipment
   
592,533
   
611,966
 
               
TOTAL ASSETS
 
$
14,866,419
 
$
11,611,949
 
               
LIABILITIES AND STOCKHOLDERS' EQUITY
             
               
CURRENT LIABILITIES
             
Accounts payable
 
$
100,096
 
$
238,198
 
Accounts payable - related parties
   
55,800
   
125,460
 
Accrued liabilities and expenses
   
82,854
   
116,162
 
Other liabilities
   
10,000
   
10,000
 
Total Current Liabilities
   
248,750
   
489,820
 
               
LONG-TERM LIABILITIES
   
-
   
-
 
               
COMMITMENTS AND CONTINGENCIES
   
-
   
-
 
               
STOCKHOLDERS' EQUITY
             
Common stock, $0.01 par value; 160,000,000 shares authorized,
36,885,733 and 34,207,912 shares issued and outstanding, respectively
   
368,857
   
342,079
 
Additional paid-in capital
   
45,607,786
   
38,594,886
 
Deficit accumulated during exploration stage
   
(31,358,974
)
 
(27,814,836
)
Total Stockholders' Equity
   
14,617,669
   
11,122,129
 
               
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
 
$
14,866,419
 
$
11,611,949
 

The accompanying notes are an integral part of these consolidated financial statements.
 
F-2


METALLINE MINING COMPANY
(AN EXPLORATION STAGE COMPANY)
CONSOLIDATED STATEMENTS OF OPERATIONS

 
                   
November 8,
 
                   
1993
 
                   
(Inception)
 
   
Three Months Ended
 
Six Months Ended
 
to
 
   
April 30,
 
April 30,
 
April 30,
 
April 30,
 
April 30,
 
   
2007
 
2006
 
2007
 
2006
 
2007
 
   
(Unaudited)
 
(Unaudited)
 
(Unaudited)
 
(Unaudited)
 
(Unaudited)
 
                       
REVENUES
 
$
-
 
$
-
   
-
 
$
-
 
$
-
 
                                 
GENERAL AND ADMINISTRATIVE EXPENSES
                               
Salaries and payroll expenses
   
168,614
   
707,418
   
332,012
   
838,114
   
9,128,375
 
Office and administrative expenses
   
88,640
   
114,610
   
420,447
   
165,483
   
1,824,674
 
Taxes and fees
   
122,342
   
54,136
   
123,487
   
173,678
   
920,847
 
Professional services
   
303,777
   
505,538
   
1,656,722
   
611,889
   
7,041,604
 
Directors fees
   
70,800
         
148,800
   
-
   
1,984,964
 
Property expenses
   
-
   
135,492
   
15,318
   
145,427
   
2,073,383
 
Depreciation
   
3,785
   
20,843
   
7,570
   
41,443
   
438,785
 
Exploration and research
   
621,391
   
53,710
   
978,209
   
71,862
   
8,391,073
 
TOTAL GENERAL AND ADMINISTRATIVE EXPENSES
   
1,379,349
   
1,591,747
   
3,682,565
   
2,047,896
   
31,803,705
 
                                 
LOSS FROM OPERATIONS
   
(1,379,349
)
 
(1,591,747
)
 
(3,682,565
)
 
(2,047,896
)
 
(31,803,705
)
                                 
OTHER INCOME (EXPENSES)
                               
Miscellaneous ore sales, net of expenses
   
-
   
-
   
-
   
(41,537
)
 
134,242
 
VAT tax refunds
   
-
   
-
   
-
   
13,045
   
132,660
 
Miscellaneous income
   
2,718
   
61,500
   
2,814
   
61,500
   
(11,670
)
Interest and investment income
   
67,148
   
(3,292
)
 
137,781
   
14,434
   
387,952
 
Interest and financing expense
   
(830
)
 
(520
)
 
(2,167
)
 
(855
)
 
(292,453
)
Rental income
   
-
   
-
   
-
         
94,000
 
           
 
   
 
   
 
   
 
 
TOTAL OTHER INCOME
   
69,036
   
57,688
   
138,428
   
46,587
   
444,731
 
                                 
LOSS BEFORE INCOME TAXES
   
(1,310,313
)
 
(1,534,059
)
 
(3,544,137
)
 
(2,001,309
)
 
(31,358,974
)
                                 
INCOME TAXES
   
-
   
-
   
-
   
-
   
-
 
                                 
NET LOSS
 
$
(1,310,313
)
$
(1,534,059
)
 
(3,544,137
)
$
(2,001,309
)
 
(31,358,974
)
                                 
BASIC AND DILUTED NET LOSS PER
COMMON SHARE
 
$
(0.04
)
$
(0.05
)
 
(0.10
)
$
(0.07
)
     
                                 
BASIC AND DILUTED
                               
WEIGHTED AVERAGE NUMBER
                               
OF COMMON SHARES OUTSTANDING
   
35,650,954
   
32,770,130
   
34,915,983
   
27,209,376
       
 
 
The accompanying notes are an integral part of these consolidated financial statements.
 
F-3


(AN EXPLORATION STAGE COMPANY)
CONSOLIDATED STATEMENTS OF CASH FLOWS

 
           
Period from
 
           
November 8, 1993
 
           
(Inception)
 
   
Six Months Ended
 
to
 
   
April 30
 
April 30
 
April 30
 
   
2007
 
2006
 
2007
 
   
(Unaudited)
 
(Unaudited)
 
(Unaudited)
 
CASH FLOWS FROM OPERATING ACTIVITIES:
             
Net loss
 
$
(3,544,137
)
$
(2,001,309
)
$
(31,358,973
)
Adjustments to reconcile net loss to net cash used by operating activities:
                   
Depreciation
   
44,277
   
41,443
   
475,522
 
Noncash expenses
         
-
   
126,864
 
Common stock issued for services
   
-
   
-
   
1,025,487
 
Common stock issued for compensation
   
-
   
668,715
   
977,106
 
Options issued for compensation
   
-
   
-
   
4,360,000
 
Common stock issued for directors fees.
   
188,460
         
188,460
 
Options and warrants issued for directors fees
   
-
         
1,665,705
 
Stock options issued for services
   
-
   
-
   
849,892
 
Stock options issued for financing fees
   
-
   
-
   
276,000
 
Common stock issued for payment of expenses
   
-
   
-
   
326,527
 
Stock warrants issued for services
   
1,094,950
   
-
   
1,783,721
 
(Increase) decrease in:
                   
Accounts receivable
   
3,294
   
(1,673
)
 
(32,640
)
Tax refunds receivable
   
(501,032
)
       
(501,032
)
Other receivables
   
(29,343
)
       
(29,343
)
Prepaid expenses
   
(15,567
)
 
(24,857
)
 
(29,855
)
Employee advances
   
(1,903
)
 
(6,791
)
 
(1,903
)
Increase (decrease) in:
                   
Related party payable
   
(69,660
)
 
-
   
55,800
 
Accounts payable
   
(138,102
)
 
25,947
   
100,096
 
Accrued liabilities and expenses
   
(33,308
)
 
(22,199
)
 
92,854
 
Net cash used by operating activities
   
(3,002,071
)
 
(1,320,724
)
 
(19,649,712
)
CASH FLOWS FROM INVESTING ACTIVITIES:
                   
Marketable securities
   
3,425,000
   
-
   
(2,500,000
)
Purchase of investments
   
-
   
-
   
(484,447
)
Proceeds from investments
   
-
   
-
   
484,447
 
Equipment purchases
   
(24,845
)
 
(2,424
)
 
(1,012,250
)
Mining property acquisitions
   
-
   
-
   
(4,452,631
)
Net cash used by investing activities
   
3,400,155
   
(2,424
)
 
(7,964,881
)
                     
CASH FLOWS FROM FINANCING ACTIVITIES:
                   
Proceeds from sales of common stock
   
5,671,893
   
10,758,737
   
33,253,707
 
Proceeds from sales of options and warrants
   
84,375
   
-
   
1,065,515
 
Deposits for sale of stock
   
-
   
-
   
125,500
 
Proceeds from shareholder loans
   
-
   
-
   
30,000
 
Payment of note payable
   
-
   
(2,105
)
 
(15,783
)
Net cash provided by financing activities:
   
5,756,268
   
10,756,632
   
34,458,939
 
Net increase (decrease) in cash and cash equivalents
   
6,154,352
   
9,433,484
   
6,844,346
 
Cash and cash equivalents beginning of period
   
689,994
   
213,369
   
-
 
Cash and cash equivalents end of period
 
$
6,844,346
 
$
9,646,853
 
$
6,844,346
 
                     
SUPPLEMENTAL CASH FLOW DISCLOSURES:
                   
                     
Income taxes paid
 
$
-
 
$
-
 
$
-
 
Interest paid
 
$
2,167
 
$
855
 
$
288,938
 
                     
NON-CASH INVESTING AND FINANCING ACTIVITIES:
                   
                     
Common stock issued for equipment
 
$
-
 
$
-
 
$
25,000
 
Common stock options issued for financing fees
 
$
-
 
$
-
 
$
276,000
 
Common stock options issued for non-cash options 
  $ 59,220   $ -   $ 59,220  
 
 
The accompanying notes are an integral part of these consolidated financial statements.
 
F-4


(AN EXPLORATION STAGE COMPANY)
CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY


                       
Accumulated
     
   
Common Stock
 
Additional
 
Stock
 
Stock
 
Deficit During
     
   
Number of
     
Paid-in
 
Subscriptions
 
Options and
 
Exploration
     
   
Shares
 
Amount
 
Capital
 
Receivable
 
Warrants
 
Stage
 
Total
 
                               
Common stock issuance prior to inception (no value)
   
960,800
 
$
9,608
 
$
(9,608
)
$
-
 
$
-
 
$
-
 
$
-
 
                                             
1:5 reverse common stock split
   
(768,640
)
 
(7,686
)
 
7,686
   
-
   
-
   
-
   
-
 
                                             
Net loss for the year ended October 31, 1994
   
-
   
-
   
-
   
-
   
-
   
(8,831
)
 
(8,831
)
                                             
Balances, October 31, 1994
   
192,160
   
1,922
   
(1,922
)
 
-
   
-
   
(8,831
)
 
(8,831
)
                                             
3:1 common stock split
   
384,320
   
3,843
   
(3,843
)
 
-
   
-
   
-
   
-
 
                                             
Net loss for the year ended October 31, 1995
   
-
   
-
   
-
   
-
   
-
   
(7,761
)
 
(7,761
)
                                             
Balances, October 31, 1995
   
576,480
   
5,765
   
(5,765
)
 
-
   
-
   
(16,592
)
 
(16,592
)
                                             
Issuances of common stock as follows:
                                           
- for par value at transfer of ownership
   
2,000
   
20
   
-
   
-
   
-
   
-
   
20
 
- for cash at an average of $0.11 per share
   
1,320,859
   
13,209
   
133,150
   
-
   
-
   
-
   
146,359
 
- for services at an average of $0.08 per share
   
185,000
   
1,850
   
12,600
   
-
   
-
   
-
   
14,450
 
- for computer equipment at $0.01 per share
   
150,000
   
1,500
   
13,500
   
-
   
-
   
-
   
15,000
 
- for mineral property at $0.01 per share
   
900,000
   
9,000
   
-
   
-
   
-
   
-
   
9,000
 
                                             
Net loss for the year ended October 31, 1996
   
-
   
-
   
-
   
-
   
-
   
(40,670
)
 
(40,670
)
                                             
Balances, October 31, 1996
   
3,134,339
   
31,344
   
153,485
   
-
   
-
   
(57,262
)
 
127,567
 
                                             
Issuances of common stock as follows:
                                           
- for cash at an average of $0.61 per share
   
926,600
   
9,266
   
594,794
   
-
   
-
   
-
   
604,060
 
- for services at an average of $0.74 per share
   
291,300
   
2,913
   
159,545
   
-
   
-
   
-
   
162,458
 
- for payment of a loan at $0.32 per share
   
100,200
   
1,002
   
30,528
   
-
   
-
   
-
   
31,530
 
                                             
Options issued as follows:
                                           
- 300,000 options for cash
   
-
   
-
   
3,000
   
-
   
-
   
-
   
3,000
 
                                             
Net loss for the year ended October 31, 1997
   
-
   
-
   
-
   
-
   
-
   
(582,919
)
 
(582,919
)
                                             
Balances, October 31, 1997
   
4,452,439
   
44,525
   
941,352
   
-
   
-
   
(640,181
)
 
345,696
 
                                             
Issuances of common stock as follows:
                                           
- for cash at an average of $1.00 per share
   
843,500
   
8,435
   
832,010
   
-
   
-
   
-
   
840,445
 
- for cash and receivables at $1.00 per share
   
555,000
   
5,550
   
519,450
   
(300,000
)
 
-
   
-
   
225,000
 
- for services at an average of $0.53 per share
   
41,800
   
418
   
21,882
   
-
   
-
   
-
   
22,300
 
- for mine data base at $1.63 per share
   
200,000
   
2,000
   
323,000
   
-
   
-
   
-
   
325,000
 
                                             
Options issued or granted as follows:
                                           
- 1,200,000 options for cash
   
-
   
-
   
120,000
   
-
   
-
   
-
   
120,000
 
- for financing fees
   
-
   
-
   
-
   
-
   
60,000
   
-
   
60,000
 
- for consulting fees
   
-
   
-
   
-
   
-
   
117,000
   
-
   
117,000
 
                                             
Warrants issued for services
   
-
   
-
   
-
   
-
   
488,980
   
(488,980
)
 
-
 
                                             
Net loss for the year ended October 31, 1998
   
-
   
-
   
-
   
-
   
-
   
(906,036
)
 
(906,036
)
                                             
Balance, October 31, 1998
   
6,092,739
 
$
60,928
 
$
2,757,694
 
$
(300,000
)
$
665,980
 
$
(2,035,197
)
$
1,149,405
 
 
 
The accompanying notes are an integral part of these consolidated financial statements.
 
F-5


METALLINE MINING COMPANY
(AN EXPLORATION STAGE COMPANY)
CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (CONTINUED)


                       
Accumulated
     
   
Common Stock
 
Additional
 
Stock
 
Stock
 
Deficit During
     
   
Number of
     
Paid-in
 
Subscriptions
 
Options and
 
Exploration
     
   
Shares
 
Amount
 
Capital
 
Receivable
 
Warrants
 
Stage
 
Total
 
                               
Balance, October 31, 1998
   
6,092,739
 
$
60,928
 
$
2,757,694
 
$
(300,000
)
$
665,980
 
$
(2,035,197
)
$
1,149,405
 
                                             
Issuances of common stock as follows:
                                           
- for cash at an average of $1.04 per share
   
818,800
   
8,188
   
842,712
   
-
   
-
   
-
   
850,900
 
- for drilling fees at $0.90 per share
   
55,556
   
556
   
49,444
   
-
   
-
   
-
   
50,000
 
                                             
Stock option and warrant activity as follows:
                                           
- exercise of options at $0.90 per share
   
250,000
   
2,500
   
267,500
   
-
   
(45,000
)
 
-
   
225,000
 
- issuance of options for financing fees
   
-
   
-
   
-
   
-
   
216,000
   
-
   
216,000
 
- expiration of options
   
-
   
-
   
60,000
   
-
   
(60,000
)
 
-
   
-
 
                                             
Stock subscription received
   
-
   
-
   
-
   
300,000
   
-
   
-
   
300,000
 
                                             
Net loss for the year ended October 31, 1999
   
-
   
-
   
-
   
-
   
-
   
(1,423,045
)
 
(1,423,045
)
                                             
Balance, October 31, 1999
   
7,217,095
   
72,172
   
3,977,350
   
-
   
776,980
   
(3,458,242
)
 
1,368,260
 
                                             
Stock option and warrant activity as follows:
                                           
Exercise of options at $0.86 per share
   
950,000
   
9,500
   
1,090,750
   
-
   
(288,000
)
 
-
   
812,250
 
Warrants issued for services
   
-
   
-
   
-
   
-
   
55,000
   
-
   
55,000
 
                                             
Issuances of common stock as follows:
                                           
- for cash at an average of $2.77 per share
   
1,440,500
   
14,405
   
3,972,220
   
-
   
-
   
-
   
3,986,625
 
- for services at $1.28 per share
   
120,000
   
1,200
   
152,160
   
-
   
-
   
-
   
153,360
 
- for equipment at $1.67 per share
   
15,000
   
150
   
24,850
   
-
   
-
   
-
   
25,000
 
                                             
Net loss for the year ended October 31, 2000
   
-
   
-
   
-
   
-
   
-
   
(882,208
)
 
(882,208
)
                                             
Balances, October 31, 2000
   
9,742,595
   
97,427
   
9,217,330
   
-
   
543,980
   
(4,340,450
)
 
5,518,287
 
                                             
Stock option and warrant activity as follows:
                                           
- Warrants exercised at $0.75 per share
   
20,000
   
200
   
25,560
   
-
   
(10,760
)
 
-
   
15,000
 
- Options issued for consulting fees
   
-
   
-
   
-
   
-
   
740,892
   
-
   
740,892
 
- Warrants issued for consulting fees
   
-
   
-
   
-
   
-
   
144,791
   
-
   
144,791
 
                                             
Issuances of common stock as follows:
                                           
- for cash at $2.00 per share
   
250,000
   
2,500
   
494,076
   
-
   
3,424
   
-
   
500,000
 
- for cash of $210 and services at $2.07 per share
   
21,000
   
210
   
43,260
   
-
   
-
   
-
   
43,470
 
- for cash of $180 and services at $2.05 per share
   
18,000
   
180
   
36,720
   
-
   
-
   
-
   
36,900
 
- for services at $2.45 per share
   
6,000
   
60
   
14,640
   
-
   
-
   
-
   
14,700
 
- for services at $1.50 per share
   
12,000
   
120
   
17,880
   
-
   
-
   
-
   
18,000
 
                                             
Net loss for the year ended October 31, 2001
   
-
   
-
   
-
   
-
   
-
   
(2,069,390
)
 
(2,069,390
)
                                             
Balance, October 31, 2001
   
10,069,595
   
100,697
   
9,849,466
   
-
   
1,422,327
   
(6,409,840
)
 
4,962,650
 
                                             
Issuances of common stock as follows:
                                           
- for cash at $2.00 per share
   
50,000
   
500
   
99,500
   
-
   
-
   
-
   
100,000
 
- for cash and warrants at $1.50 per share
   
96,000
   
960
   
134,400
   
-
   
8,640
   
-
   
144,000
 
- for cash and warrants at $1.50 per share
   
66,667
   
667
   
93,333
   
-
   
6,000
   
-
   
100,000
 
- for compensation at an average of $1.23 per share
   
86,078
   
861
   
104,014
   
-
   
-
   
-
   
104,875
 
                                             
Stock option activity as follows:
                                           
- for compensation at $0.61 per share
   
-
   
-
   
-
   
-
   
61,000
   
-
   
61,000
 
                                             
Net loss for the year ended October 31, 2002
   
-
   
-
   
-
   
-
   
-
   
(765,765
)
 
(765,765
)
                                             
Balance, October 31, 2002
   
10,368,340
 
$
103,685
 
$
10,280,713
 
$
-
 
$
1,497,967
 
$
(7,175,605
)
$
4,706,760
 
 
 
The accompanying notes are an integral part of these consolidated financial statements.
 
F-6


(AN EXPLORATION STAGE COMPANY)
CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (CONTINUED)


                       
Accumulated
     
           
Additional
 
Stock
 
Stock
 
Deficit During
     
   
Common Stock
 
Paid-in
 
Subscriptions
 
Options and
 
Exploration
     
   
Shares
 
Amount
 
Capital
 
Receivable
 
Warrants
 
Stage
 
Total
 
                               
Balance, October 31, 2002
   
10,368,340
 
$
103,685
 
$
10,280,713
 
$
-
 
$
1,497,967
 
$
(7,175,605
)
$
4,706,760
 
                                             
Issuances of common stock as follows:
                                           
- for cash at $2.00 per share
   
100,000
   
1,000
   
199,000
   
-
   
-
   
-
   
200,000
 
- for cash at an average of $0.98 per share
   
849,000
   
8,489
   
821,510
   
-
   
-
   
-
   
829,999
 
- for cash and warrants at $1.50 per share
   
7,000
   
70
   
9,847
   
-
   
583
   
-
   
10,500
 
- for compensation at an average of $1.25 per share
   
391,332
   
3,913
   
487,275
   
-
   
-
   
-
   
491,188
 
- for services at an average of $1.23 per share
   
91,383
   
914
   
119,320
   
-
   
-
   
-
   
120,234
 
- for subscriptions receivable at $1.00 per share
   
38,000
   
380
   
37,620
   
(38,000
)
 
-
   
-
   
-
 
                                             
Net loss for the year ended October 31, 2003
   
-
   
-
   
-
   
-
   
-
   
(1,107,228
)
 
(1,107,228
)
                                             
Balance, October 31, 2003
   
11,845,055
   
118,451
   
11,955,285
   
(38,000
)
 
1,498,550
   
(8,282,833
)
 
5,251,453
 
                                             
Issuances of common stock as follows:
                                           
- for cash at $1.00 per share, less issuance costs of $698,863
   
7,580,150
   
75,802
   
6,805,485
   
-
   
-
   
-
   
6,881,287
 
- for compensation at an average of $1.26 per share
   
120,655
   
1,207
   
151,064
   
-
   
-
   
-
   
152,271
 
- for services at various prices
   
141,286
   
1,413
   
153,801
   
-
   
-
   
-
   
155,214
 
                                             
Stock subscription received
   
-
   
-
   
-
   
38,000
   
-
   
-
   
38,000
 
                                             
Miscellaneous corrections and adjustments
   
64,263
   
643
   
(643
)
 
-
   
-
   
-
   
-