Tonopah Divide Mining : Ending 12-31-2021 TDMC Financials signed

Tonopah Divide Mining Company

Table of Contents

December 31, 2021

	Page
Financial Statements
∙ Balance Sheets	1
∙ Statements of Income (Loss)	2
∙ Statements of Stockholders' Equity	3
∙ Statements of Cash Flows	4
∙ Notes to Financial Statements	5

Tonopah Divide Mining Company

Balance Sheets

December 31, 2021 and 2020 (Unaudited)

Assets		2021			2020
Current Assets
Cash and cash equivalents	$	139,872	$	180,960
Prepaid expenses		2,300			1,100
Royalty receivable		74			40
Total Current Assets		142,246			182,100
Property and Equipment
Lode mining claims		151,781			151,781
Equipment		-			533
Less accumulated depreciation		-			(533)
Property and Equipment, net		151,781			151,781
Other Assets
Investment securities		402,970			234,460
Deferred income tax asset		-			6,818
Total Other Assets		402,970			241,278
Total Assets	$	696,997	$	575,159
Liabilities and Stockholders' Equity
Current Liabilities
Accrued liabilities	$	250	$	250
Total Current Liabilities		250			250
Other Liabilities
Deferred income tax liability		20,622			-
Total Liabilities		20,872			250
Stockholders' Equity
Common stock - $1.00 par value:
2,500,000 shares authorized and issued; 2,233,827 and
2,253,327 shares outstanding in 2021 and 2020, respectively		2,500,000			2,500,000
Stock discount		(1,926,047)			(1,926,047)
Treasury stock at cost: 266,173 and 246,673 shares in 2021
and 2020, respectively		(6,197)			(4,189)
Retained earnings		108,369			5,145
Total Stockholders' Equity		676,125			574,909
Total Liabilities and Stockholders' Equity	$	696,997	$	575,159

The accompanying notes are an integral part of these financial statements.

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Tonopah Divide Mining Company

Statements of Income (Loss)

For the Years Ended December 31, 2021, 2020 and 2019 (Unaudited)

Revenue		2021			2020			2019
Oil and gas royalty	$	26,765	$	24,353	$	35,470
Dividend income		16			463			2,939
Total Revenue		26,781			24,816			38,409
Operating and General Expenses
Claim and advance royalty payments		33,505			29,255			-
Taxes and fees		9,936			3,423			1,175
Professional services		9,884			10,232			9,608
Rent		7,442			7,000			-
Insurance		1,444			1,444			1,455
Stock maintenance fee		1,000			1,000			-
Water well		669			138			-
Office		385			895			1,986
Miscellaneous		362			-			-
Travel		-			-			19
Total Operating and General Expenses		64,627			53,387			14,243
(Loss) Income from Operations		(37,846)			(28,571)			24,166
Other Income (Expense)
Unrealized gains (losses) on equity investments		168,510			(138,750)			79,390
Total Other Income (Expense)		168,510			(138,750)			79,390
Income (Loss) Before Taxes		130,664			(167,321)			103,556
Income Tax (Expense) Benefit		(27,440)			35,137			(21,747)
Net Income (Loss)	$	103,224	$	(132,184)	$	81,809

The accompanying notes are an integral part of these financial statements.

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Tonopah Divide Mining Company

Statements of Stockholders' Equity

For the Years Ended December 31, 2021, 2020 and 2019 (Unaudited)

		2021			2020			2019
Common Stock
$1.00 par value: 2,500,000 shares authorized and issued;
2,233,827 shares outstanding in 2021, 2,253,327 shares
outstanding in 2020 and 2019	$	2,500,000	$	2,500,000	$	2,500,000
Stock Discount		(1,926,047)			(1,926,047)			(1,926,047)
Treasury Stock
Balance at beginning of year		(4,189)			(4,189)			(4,189)
Purchase of treasury stock		(2,008)			-			-
Balance at end of year		(6,197)			(4,189)			(4,189)
Accumulated Other Comprehensive Loss
Balance at beginning of year		-			-			(161,617)
Reclassification under ASU 2016-01		-			-			161,617
Balance at end of year		-			-			-
Retained Earnings
Balance at beginning of year		5,145			137,329			217,137
Net income (loss)		103,224			(132,184)			81,809
Reclassification under ASU 2016-01		-			-			(161,617)
Balance at end of year		108,369			5,145			137,329
Total Stockholders' Equity	$	676,125	$	574,909	$	707,093

The accompanying notes are an integral part of these financial statements.

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