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NCAP > SEC Filings for NCAP > Form 10-K on 1-Apr-2013All Recent SEC Filings

Show all filings for NORTHSIGHT CAPITAL, INC. | Request a Trial to NEW EDGAR Online Pro



Annual Report


When used in this Annual Report, the words "may," "will," "expect," "anticipate," "continue," "estimate," "project," "intend," and similar expressions are intended to identify forward-looking statements within the meaning of Section 27a of the Securities Act and Section 21e of the Exchange Act regarding events, conditions, and financial trends that may affect our future plans of operations, business strategy, operating results, and financial position. Persons reviewing this Annual Report are cautioned that any forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties and actual results may differ materially from those included within the forward-looking statements as a result of various factors. Such factors are discussed further below under "Trends and Uncertainties," and also include general economic factors and conditions that may directly or indirectly impact our financial condition or results of operations.

Plan of Operation

Our Company's plan of operation for the next 12 months is to: (i) consider a possible acquisition of a 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 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.

Liquidity and Capital Resources

We have no cash or cash equivalents on hand. If additional funds are required, such funds may be provided by our parent company (which is currently experiencing a shortage of capital) or we may raise funds from third parties, either in the form of debt or equity. We may not be able to raise the funds we need to sustain our business operations. During 2012, Kuboo, Inc., the Company's parent, paid $35,283 to outside professionals and other service providers for services rendered to the Company. These payments were treated as a contribution to our capital by Kuboo.

Results of Operations

We had no operations during the year ended December 31, 2012, nor do we have operations as of the date of this filing. We reported no sales for the years ended December 31, 2012 and 2011. For the years ended December 31, 2012 and 2011, we incurred operating expenses of $41,038 and $360,550, an 89% decrease. This decrease is primarily attributable to the decrease of approximately $300,000 in consulting fees, the decrease of approximately $24,500 in professional fees, partially offset by an increase of approximately $4,987 in general and administrative expenses.

For the year ended December 31, 2012, net loss decreased $319,512 to $41,038 from $360,550 reported for the year ended December 31, 2011, a decrease of 89%.
This decrease in net loss was primarily attributable to the decrease of approximately $317,500 in operating expenses.

Off-Balance Sheet Arrangements

We had no off-balance sheet arrangements during the year ended December 31, 2012.

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