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1) Nature of Business and Basis of Presentation
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9 Months Ended |
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Sep. 30, 2013
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| Notes | |
| 1) Nature of Business and Basis of Presentation | 1) NATURE OF BUSINESS AND BASIS OF PRESENTATION
All Grade Mining, Inc. and Subsidiary (a development stage company) (the Company) is a corporation organized under the laws of the State of Colorado. The Company is currently engaged in the acquisition and exploration of mining properties and maintains its corporate offices in Hackensack, New Jersey.
The Company has generated nominal revenues to date; accordingly, the Company is considered a development stage enterprise as defined in the Accounting Standards Codification 915 Development Stage Entities. The Company is subject to a number of risks similar to those of other companies in an early stage of development.
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information. Accordingly, these interim financial statements do not include all of the information and footnotes required for annual financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary to make the financial statements not misleading have been included. The accompanying condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2012 included in the Companys Annual Report on Form 10-K as filed with the SEC on July 8, 2013.
The results for the nine month periods ended September 30, 2013, are not necessarily indicative of the results to be expected for any subsequent quarter or the entire fiscal year. The balance sheet at December 31, 2012 has been derived from the audited financial statements at that date. |