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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
FORM 10Q
Quarterly Report Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934.
For the Quarter Ended SEPTEMBER 30, 2002
Commission File #07883
BAGDAD CHASE, INC.
===========================================================================
(Exact Name of Registrant as Specified in its Charter)
State of Incorporation: Nevada I.R.S. I.D. 95-236978
Address of Principal Executive Office: 359 San Miguel Dr., Suite 203
Newport Beach, CA 92660
Registrants Telephone Number including Area Code: (949) 644-4633
Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act: $1.00 par value
common stock. Currently not registered with any exchange.
Shares of common stock issued and outstanding on September 30, 2002:
1,689,921 Number of Shareholders: 582.
The registrant has filed all reports required to be filed by Section 13 or
15(d) of the Securities and Exchange Act of 1934 during the preceding
twelve months and has been subject to such filing requirements for the past
ninety (90) days. X Yes No
DOCUMENTS INCORPORATED BY REFERENCE: NONE
PART TWO
Current disclosure requirements covering the business, leases,
properties, legal proceedings and beneficial ownership.
1. Legal Proceedings:
None pending.
2. No Change in Securities:
(a) No increase in amount of securities
(b) No decrease in amount of securities
3. No Defaults in Senior Securities
4. Submission of Matters to a Vote of Security Holders: N/A
5. Other Material Events: The Castle Mountain joint venture referenced in
1st and 2nd qrtr 10 Q reports continues production. During the 3rd quarter
authorization was granted for the sale and wire transfer of the proceeds of
60 oz. of Gold to cover expenses and claim maintenance and assessments.
6. Exhibits and Reports on Form
(a) Not applicable
(b) Not applicable
7. Management's Discussion and Analysis of Financial Condition and
Results of Operations:
No effort was extended nor further funds expended on the Golden Anchor
property or the Stedman Mining District claims except for necessary claim
maintenance and assessments.
Viceroy Resources, holder of the lease agreement on the Oro Belle property
in the Castle Mountain District of Eastern San Bernardino County,
California, continues pouring of gold bars during the third 3 months of
2002 from its large production plant.
BAGDAD CHASE, INC.
COMPARATIVE STATEMENT OF FINANCIAL CONDITION
AS OF SEPTEMBER 30, 2001 AND 2002
Increase or
Quarter Ended SEPTEMBER 30 (Decrease)
---------------------------------------
2001 2002
Current Assets
Cash in Bank $ 3,911 $ 361 (3,550)
Investments 0 0 0
Other current assets 83,086 83,086 0
Allowance for Cost (76,836) (76,836) 0
Income tax receivable 0 0 0
from 2001 loss carry over
Total Current Assets 10,161 6,611 (3,550)
Fixed Assets
Field Equipment 9,495 9,495 0
Depreciation (9,495) (9,495) 0
Machinery & Equipment 2,178 2,178 0
Depreciation (2,178) (2,178) 0
Mine Development Cost 38,707 38,707 0
Non-producing Properties 20,833 20,833 0
Total Fixed Assets 59,540 59,540 0
TOTAL ASSETS 69,701 66,151 (3,550)
PLEASE SEE ACCOUNTANT'S LAST COMPILATION REPORT
BAGDAD CHASE, INC.
COMPARATIVE STATEMENT OF FINANCIAL CONDITION
AS OF SEPTEMBER 30, 2001 AND 2002
Increase or
Quarter Ended SEPTEMBER 30 (Decrease)
--------------------------------------
2001 2002
LIABILITIES AND CAPITAL
Current Liabilities
Accounts Payable $ 0 $ 0 0
Accrued Income Taxes
Total Current Liabilities $ 0 $ 0 0
Long Term Liabilities $ 0 $ 0 0
Deferred Income Taxes $ 0 $ 0 0
TOTAL LIABILITIES $ 0 $ 0 0
CAPITAL
Common Stock @ $1 par
4,000,000 shs authorized;
1,698,921 issued and
Outstanding in '93/'94 1,689,921 1,689,921 0
Paid in Capital
(below par) (1,396,461)(1,396,461) 0
Accumulated Deficit (230,468) (230,468) 0
Retained Earnings 3,076 3,834 758
Net Income 4,433 140 (4,293)
Total Equity 70,501 66,966 (3,535)
TOTAL LIABILITIES
& CAPITAL 69,701 66,166 (3,535)
PLEASE SEE ACCOUNTANT'S LAST COMPILATION REPORT
BAGDAD CHASE, INC.
COMPARATIVE STATEMENT OF INCOME AND EXPENSE
FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2002 AND 2001
(UNAUDITED)
Increase or
Quarter Ended SEPTEMBER 30 (Decrease)
------------------------------------
2002 2001
REVENUE $ 18,748 29,764 (11,016)
Less Operating Expense:
Director's expense & travel 0 0 0
Director's Fees 0 0 0
Bank Fees 15 0 15
Assessment/ Claim Maint. 24,300 7,100 17,200
Stedman Placer Costs 0 0 0
Registration/Agent Fee 800 600 200
Office Expense(Rent) 1,650 1,650 0
Professional Fees 650 650 0
Taxes & Licenses 0 0 0
Insurance 0 1,726 (1,726)
Loan Repayment 0 20,685 (20,685)
Miscellaneous 0 80 (80)
27,425 32,492 (5,082)
--------------------------------
NET INCOME (LOSS) (8,662) (2,728) (5,934)
--------------------------------
PLEASE SEE ACCOUNTANT'S LAST COMPILATION REPORT
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10 Q
FOR THE QUARTER ENDING SEPTEMBER 30, 2002
Pursuant to the requirements of the Securities and Exchange Act of
1934, the registrant has duly caused this report, on its behalf by the
Undersigned, thereunto duly authorized.
BAGDAD CHASE, INC.
a Nevada corporation
/s/ Phillip J. Buller
----------------------------
PHILLIP J. BULLER, PRESIDENT
(SEAL)
/s/ George Rodda, Jr.
-----------------------------
GEORGE RODDA, JR., Secretary,
Chief Financial Officer