some facts from the report:Summary Analysis
Franklin Mining, Inc. is an exploration stage enterprise currently focused solely on two mining
properties in the Republic of Bolivia
? The Company’s financial statements have been prepared in accordance with generally accepted
accounting principles requiring management to make certain estimates and assumptions affecting
the reported amounts of assets and liabilities at the date of the financial statements as well as
reported amounts of revenues and expenses during the reporting period. While actual results could
differ from these estimates, management does not expect such variances – if any – to have a
material effect on the financial statements.
? Revenues – if any – from the sale of metals and minerals will be recognized by the Company only
upon receipt of final settlement (funds).
? There were no revenues to report for the year ending December 31, 2014.
? To date, the Company’s operating expenses have been met by obtaining capital from management
and significant shareholders.
? The Company has incurred recurring operating losses, and as of December 31, 2014 has an
accumulated deficit of $50,663,208.[color=red][/color]
? On December 31, 2014, the Company was indebted to related parties in the aggregate amount
of $656,880. These notes bear interest at a rate of 8.0% per annum, and are due on demand.
? On December 31, 2014, the Company was indebted to unrelated third-party entities in the
aggregate amount of $244,178. These notes bear interest at a rate of 8.0% per annum, and are
due on demand.
? During the six months ended June 30, 2013 the Company received notice of a settlement of the
judgment payable and related debts totaling $2,263,051 in exchange for certain mineral
properties in the state of Colorado.
o The Company had previously impaired the value of the mineral properties to $0.00.
o Accordingly the Company recorded a gain on the settlement of debt for the ....blah blah
[[color=red]b]The report goes on to talk about maybe not being able to "continue operations" What operations?[color=red][color=red][/color][/color][/color]
