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NCAP > SEC Filings for NCAP > Form 10-Q on 19-Nov-2012All Recent SEC Filings

Show all filings for NORTHSIGHT CAPITAL, INC.

Form 10-Q for NORTHSIGHT CAPITAL, INC.


19-Nov-2012

Quarterly Report


Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.

Forward-looking Statements

Statements made in this Quarterly Report which are not purely historical are forward-looking statements with respect to the goals, plan objectives, intentions, expectations, financial condition, results of operations, future performance and our business, including, without limitation, (i) our ability to raise capital, and (ii) statements preceded by, followed by or that include the words "may," "would," "could," "should," "expects," "projects," "anticipates," "believes," "estimates," "plans," "intends," "targets" or similar expressions.

Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond our control) that could cause actual results to differ materially from those set forth in the forward-looking statements, including the following: general economic or industry conditions, nationally and/or in the communities in which we may conduct business, changes in the interest rate environment, legislation or regulatory requirements, conditions of the securities markets, our ability to raise capital, changes in accounting principles, policies or guidelines, financial or political instability, acts of war or terrorism, other economic, competitive, governmental, regulatory and technical factors affecting our current or potential business and related matters.

Accordingly, results actually achieved may differ materially from expected results in these statements. Forward-looking statements speak only as of the date they are made. We do not undertake, and specifically disclaim, any obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of such statements.

Plan of Operations

Our Company's plan of operation for the next 12 months is to: (i) consider a possible acquisition of going concern, including the possibility of engaging in a transaction with our parent company, (ii) adopt a business plan for any acquired business, and (iii) upon completion of an acquisition and funding, to commence the business operations of the acquired business.

During the next 12 months, provided we do not complete an acquisition during such period, our only foreseeable cash requirements will relate to maintaining our good standing as a corporation in our state of organization; the payment of our Securities and Exchange Commission and the Exchange Act reporting filing expenses, including associated legal and accounting fees; and costs incident to reviewing or investigating any potential business venture. We may have to raise additional funds during the next 12 months to fund our basic operating expenses.
Our common stock is currently quoted on the Over-the-Counter Bulletin Board (OTCBB) under the symbol NCAP.OB.

Results of Operations

Three Months Ended September 30, 2012 Compared to Three Months Ended September 30, 2011

We had no operations during the quarterly period ended September 30, 2012, nor do we have operations as of the date of this filing. We reported no sales during the three month periods ended September 30, 2012 and 2011. For the three months ended September 30, 2012 and 2011, we incurred operating expenses of approximately $14,000 and $11,000, respectively, an increase of approximately $3,000. This increase is primarily attributable to an increase of approximately $2,300 for in general administrative expenses. For the three months ended September 30, 2012 and 2011, the Company reported a net loss of approximately $14,000 and $11,000, respectively, an increase in net loss of approximately $3,000.

Nine Months Ended September 30, 2012 Compared to Nine Months Ended September 30, 2011

We had no operations during the nine month period ended September 30, 2012, nor do we have operations as of the date of this filing. We reported no sales during the nine month periods ended September 30, 2012 and 2011. For the nine months ended September 30, 2012 and 2011, we incurred operating expenses of approximately $29,000 and $298,000, respectively, a decrease of approximately $270,000. This decrease is primarily attributable to a decrease of approximately $250,000 in consulting expense - related party and a $21,000 decrease in professional fees. For the nine months ended September 30, 2012, net loss decreased approximately $270,000 to $29,000 from $298,000. This decrease in net loss is primarily attributable to the decrease of approximately $250,000 in consulting expense - related party and a $21,000 decrease in professional fees.


Liquidity and Capital Requirements

We have no cash or cash equivalents on hand. If additional funds are required, such funds may be provided by our parent company or we may raise funds from third parties, either in the form of debt or equity. During the nine month period ended September 30, 2012, SAFE paid our expenses of $29,491 (consisting of outside professional and other fees for services rendered on behalf of the Company). These payments by SAFE were treated as a contribution by SAFE to our capital.

Off-balance Sheet Arrangements

None.

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