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CDMC > SEC Filings for CDMC > Form 10-Q on 13-Jun-2012All Recent SEC Filings

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Form 10-Q for CINDISUE MINING CORP


13-Jun-2012

Quarterly Report


ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

FORWARD LOOKING STATEMENTS

This report contains forward-looking statements that involve risk and uncertainties. We use words such as "anticipate", "believe", "plan", "expect", "future", "intend", and similar expressions to identify such forward-looking statements. Investors should be aware that all forward-looking statements contained within this filing are good faith estimates of management as of the date of this report and actual results may differ materially from historical results or our predictions of future results.

RESULTS OF OPERATIONS

We are still in our exploration stage and have generated no revenue to date.

We incurred operating expenses of $25,605 and $18,965 for the three months ended April 30, 2012 and 2011, respectively. These expenses consisted of general operating expenses, professional fees and interest expense. For the period ended April 30, 2011 there was also $8,000 in exploration costs. Our net loss from inception (January 8, 2010) through April 30, 2012 was $75,239 which includes $13,500 in exploration expenses.

We received our initial funding of $15,000 through the sale of common stock to Donovan L. Cooper, an officer and director, who purchased 3,000,000 shares of our common stock at $0.005 per share on January 22, 2010.

On March 8, 2011, the company completed its offering of 2,500,000 shares of common stock, pursuant to a Registration Statement on Form S-1, to 27 individuals for cash in the amount of $0.01 per share for a total of $25,000.

On March 12, 2011 3,000,000 shares of common stock were issued to a director of the Company, Mr. Donavan L. Cooper, in exchange for services from inception through January 31, 2011. The shares were valued at $5,000. The shares were issued under Rule 144 and are restricted securities within the meaning of the rule.

As of April 30, 2012 the Company had 8,500,000 shares of common stock issued and outstanding held by 28 shareholders of record.

The following table provides selected financial data about our company for the period ended April 30, 2012.

                    Balance Sheet Data:            4/30/12
                    -------------------            -------

                    Cash                          $    382
                    Total assets                  $    382
                    Total liabilities             $ 30,621
                    Shareholders' equity          $(30,239)

LIQUIDITY AND CAPITAL RESOURCES

Our cash balance at April 30, 2012 was $382, with outstanding liabilities of $30,621, consisting of $6,537 in accounts payable, $267 in accrued interest payable, $18,517 in advances from officers and $5,300 in notes payable to an unrelated party. If we experience a shortage of funds in the next twelve months we may utilize funds from our director, who has agreed to advance funds for operations, however he has no formal commitment, arrangement or legal obligation to advance or loan funds to us.

PLAN OF OPERATION

The Company has completed the Phase 1 study of its Ford 1-4 Mineral Claim in Esmeralda County, Nevada. Phase 1 consisted of mobile metal ion (MMI) soil sampling, proprietary IONIC Leach (IL) digestion and induction coupled plasma (ICP) analysis. The Phase 1 work involved a total of 45 grid controlled MMI soil samples.

The Phase 1 data rendered poor results. It is not likely that further study of the claim will yield any better result.

Management, with the prime objective of maximizing shareholder value, is considering the options of obtaining additional funds to seek additional claims for exploration or an outright sale of the company.

OFF-BALANCE SHEET ARRANGEMENTS

We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.

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