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MGHL > SEC Filings for MGHL > Form 10-Q on 7-May-2013All Recent SEC Filings

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Quarterly Report

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


The Company currently has no operating businesses and actively seeking acquisitions as part of its strategic alternatives. Its only costs are the expenses required to make the regulatory filings needed to maintain its public status and to find and evaluate potential acquisitions. These costs are estimated at $25,000 to $75,000 per year.

Results of Operations

For the three months ended March 31, 2013, the Company incurred $26,316 of administrative expenses an increase of $9,043 from the $17,273 of expenses in the three months ended March 31, 2012, due to activity associated with acquisition evaluation, the costs of Directors and Officers Insurance and other administrative costs of maintaining in public status.

The company may from time to time invest in marketable securities that are subject to a publicly disclosed acquisition offer but are trading below the proposed acquisition price. No investments have been made during 2013. During the three months ended March 31, 2012, the company recorded $1,198 of net realized and unrealized gains from this activity, no realized or unrealized gains or losses were recorded during 2013. In addition, the Company also received $290 in dividend income for the three months ended March 31, 2012 as compared to $0 for the three months ended March 31, 2013, also as a result of this marketable security program.

Interest income from the Company investments in a money market fund that invests in United States Treasury securities was $11 during the three months ended March 31, 2013 as compared to $0 during the three months ended March 31, 2012.

Liquidity and Capital Resources

As of March 31, 2013, the Company's principal assets consisted of cash and cash equivalents of $321,507 and a capital loss carry forward of about $4.4 million which it expects will substantially expire in 2013. The ability to utilize this carry forward is dependent on the Company's ability to generate a capital gain prior to its expiration, which is unlikely at this time.

Off Balance Sheet Arrangements


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