MONUMENT RESOURCES INC Financials

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MONUMENT RESOURCES INC Files SEC form 8-K/A, Change in Directors or Principal Officers

Show all filings for MONUMENT RESOURCES INC | Request a Trial to NEW EDGAR Online Pro Form 8-K/A for MONUMENT RESOURCES INC 27-Aug-2009Change in Directors or Principal Officers Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purp...
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MONUMENT RESOURCES INC Files SEC form 8-K, Change in Directors or Principal Officers

Show all filings for MONUMENT RESOURCES INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for MONUMENT RESOURCES INC 26-Aug-2009Change in Directors or Principal Officers Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purp...
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MONUMENT RESOURCES INC Files SEC form 10-Q, Quarterly Report

Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. LIQUIDITY AND CAPITAL RESOURCES At June 30, 2009, our current assets were $528,262 and current liabilities were $133,203 and we had working capital of $395,059 compared to current assets of $921,862 and current liabilities of $167,488 and working capital of $754,374 at September 30, 2008. Our working capital decreased $359,315, or about 48%. This decrease in working capital is due to the capital invested in property and equipment of approximately $112,000 and our net operating loss of approximately $248,000. This amount does not take into consideration the non-cash items of depletion and depreciation of $65,638 and impairment expense of $699,688. Effective March 5, 2008, we sold 2,000,000 unregistered common shares of stock to an unaffiliated party and 400,000 shares of common stock to our president. The price was $0.25 per share, which included warrants to buy an additional unregistered common share of stock for each share purchased. The warrant exercise price is $0.40 per share and exercisable over two years. The total funds we received for the sale was $600,000. We are using these funds to re-complete some of our existing gas wells in Leavenworth County, Kansas and acquire additional gas wells and oil and gas leases in the Leavenworth County area if the opportunity arises. Refer to our report on Form 8-K which was filed with the Securities and Exchange Commission on March 6, 2008. At the present time, our primary source of cash for operations and exploration is our current working capital, cash that can be raised by selling our investment in U.S. government sovereign agency securities and other corporate bonds and funds derived from our oil and gas operations. We expect that we will be spending our current working capital to support operations for the remainder of this fiscal year as natural gas prices are forecasted to remain relatively low. We have in the past, ...
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MONUMENT RESOURCES INC Files SEC form 10-Q, Quarterly Report

Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. LIQUIDITY AND CAPITAL RESOURCES At March 31, 2009, our current assets were $623,427 and current liabilities were $128,841 and we had working capital of $494,586 compared to current assets of $921,862 and current liabilities of $167,488 and working capital of $754,374 at September 30, 2008. Our working capital decreased $259,788, or about 34%. This decrease in working capital is due to the capital invested in property and equipment of approximately $98,000 and our net operating loss of approximately $175,000 for the six months ended March 31, 2009. The non-cash items of depletion and depreciation of $42,437 and impairment expense of $699,688, were also charged to our earnings for the same period. Effective March 5, 2008, we sold 2,000,000 unregistered common shares of stock to an unaffiliated party and 400,000 shares of common stock to our president. The price was $0.25 per share, which included warrants to buy an additional unregistered common share of stock for each share purchased. The warrant exercise price is $0.40 per share and exercisable over two years. The total funds we received for the sale was $600,000. We are using these funds to re-complete some of our existing gas wells in Leavenworth County, Kansas and acquire additional gas wells and oil and gas leases in the Leavenworth County area if the opportunity arises. Refer to our report on Form 8-K which was filed with the Securities and Exchange Commission on March 6, 2008. At the present time, our primary source of cash for operations and exploration is our current working capital, cash that can be raised by selling our investment in U.S. government sovereign agency securities and other corporate bonds and funds derived from our oil and gas operations. We expect that we will be spending our current working capital to support operations for the remainder of this fiscal year as natural gas prices are forecast...
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MONUMENT RESOURCES INC Files SEC form 10-Q, Quarterly Report

Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. LIQUIDITY AND CAPITAL RESOURCES At December 31, 2008, our current assets were $788,061 and current liabilities were $133,998 and we had working capital of $654,063 compared to current assets of $921,862 and current liabilities of $167,488 at September 30, 2008, resulting in working capital at September 30, 2008 of $754,374. Our working capital decreased $100,311, or about 13%. This decrease in working capital is due to the capital invested in recompleting wells of approximately $38,000 and our net loss for the three months ended December 31, 2008 of approximately $100,000. Effective March 5, 2008, we sold 2,000,000 unregistered common shares of stock to an unaffiliated party and 400,000 shares of common stock to our president. The price was $0.25 per share, which included warrants to buy an additional unregistered common share of stock for each share purchased. The warrant exercise price is $0.40 per share and exercisable over two years. The total funds we received for the sale was $600,000. We are using these funds to re-complete some of our existing gas wells in Leavenworth County, Kansas and acquire additional gas wells and oil and gas leases in the Leavenworth County area. Refer to our report on Form 8-K which was filed with the Securities and Exchange Commission on March 6, 2008. At the present time, our primary source of cash for operations and exploration is our current working capital, cash that can be raised by selling our investment in U.S. government sovereign agency securities and other corporate bonds and funds derived from our oil and gas operations. We have in the past, and plan in the future, to rely on joint venture partners or equity funding to supply some of the funds needed to evaluate and develop our properties. Any inability we may have to raise additional capital through a stock offering, to liquidate our securities holdings or obtain third part...
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MONUMENT RESOURCES INC Files SEC form 10-K, Annual Report

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. GENERAL See Note 1 to our Consolidated Financial Statements included in this annual report for a summary of our significant accounting policies. CRITICAL ACCOUNTING POLICIES AND ESTIMATES We believe the following critical accounting policies affect our most significant judgments and estimates used in the preparation of our Consolidated Financial Statements and in understanding our discussion and analysis of operating results. ACCOUNTS RECEIVABLE Accounts receivable balances are evaluated on a continual basis and allowances are provided for potentially uncollectible accounts based on management's estimate of the collectability of customer accounts. If the financial condition of a customer were to deteriorate, resulting in an impairment of its ability to make payments, an additional allowance may be required. Allowance adjustments are charged to operations in the period in which the facts that give rise to the adjustments become known. The fact that we have only one customer for our natural gas sales, and if for any reason, it refused to timely pay our invoices, we would have little or no income. This event would impair our ability to continue our operations and satisfy our financial obligations. REVENUE RECOGNITION Sales of oil and gas revenues are generated from the sale of oil and gas. The oil and gas revenues are recognized at the time of delivery of the product to the purchaser. Gas pipeline revenue is generated from the transportation of gas from the well to a purchaser. The gas pipeline revenues result from the net sale of gas to the purchaser and are recognized at the time of delivery of the product to the purchaser. RESERVE ESTIMATES Our estimates of oil and natural gas reserves, by necessity, are projections based on geologic and engineering data, and there are uncertaintie...
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