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Gold/Mining/Energy : Dynamix Corp (DYX was Dakota Resources, DAK) -- Ignore unavailable to you. Want to Upgrade?

To: John Gorham who wrote (549)	10/13/1999 4:34:00 PM
From: Benjamin Ng	Read Replies (1) \| Respond to of 587

1999 Q3 Report Was posted to SEDAR on September 30. See sedar.com 1999 THIRD QUARTER REPORT The company is pleased to report that the problems with the Kentucky gas production have been resolved, gas prices are strong, and the results for the fourth quarter are expected to be very acceptable. The commencement of the second four wells has been delayed, and will probably not be until spring. The company should be in a position to participate at that time. The outlook for the upcoming seismic season is very promising. Many of the exploration companies have greatly increase their projected budgets, and with the sustained major increases in oil and gas prices, there will be a great deal more seismic projects than expected. The company expects to have an average of three crews operating for the season, which will enable it to return to a profitable operation. The company is assessing a possible opportunity in a petroleum oriented operation and will shortly be able to ascertain the feasibility of the operation. DYNAMIX CORPORATION STATEMENT OF CHANGES IN FINANCIAL POSITION FOR THE NINE MONTHS ENDED JUNE 30, 1999 (UNAUDITED) 1999 1998 OPERATING ACTIVITIES INCOME (LOSS) FOR THE PERIOD (386459) 170580 DEPRECIATION 160166 91240 LOSS ON EQUIPMENT DISPOSAL 550 1237 --------- --------- (225746) 263057 CHANGES IN NON-CASH WORKING CAPITAL ITEMS 229 445810 INVESTING ACTIVITIES CAPITAL ASSETS - NET (8283) (12320) EXPENDITURE ON MINERAL PROPERTIES (10242) EXPENDITURE ON PETROLEUM PROPERTIES (9010) 272775 INVESTMENTS IN SUBSIDIARY 809000 --------- --------- (17373) (1104337) FINANCE ACTIVITIES PROCEEDS ON ISSUANCE OF COMMON SHARES-NET (16520) 657435 INCREASE(DECREASE) IN LONG TERM DEBT (75418) (302389) PAYABLE ON EQUIPMENT 213640 --------- --------- (91938) 568696 INCREASE(DECREASE) IN CASH DURING PERIOD (334825) 173216 CASH AT BEGINNING OF PERIOD (54201) (181600) CASH (BANK INDEBTEDNESS) END OF PERIOD (389026) (8384) DYNAMIX CORPORATION CONSOLIDATED BALANCE SHEET JUNE 30, 1999 (UNAUDITED) 1999 1998 ASSETS CURRENT CASH 2433 89624 ACCOUNTS RECEIVABLE 715711 600932 PREPAID EXPENSES 27327 15264 --------- --------- 745471 705820 CAPITAL ASSETS AT BOOK VALUE 517627 739910 PETROLEUM & NATURAL GAS PROPERTIES 317371 272775 MINERAL PROPERTIES 69380 160475 LOAN RECEIVABLE 60000 60000 MWSTNMNTS-AT COST 12750 21750 RECOVERABLE DEPOSITS 9403 8623 CHARTER 763 --------- --------- 1732765 1909353 LIABILITIIES CURRENT CHEQUES ISSUED IN EXCESS OF FUNDS ON HAND 391459 ACCOUNTS PAYABLE 648391 1343977 INCOME TAX PAYABLE 111868 CURRENT PORTION OF LONG TERM DEBT 100008 100008 DEPOSIT ON EQUIPMENT 42852 --------- --------- 1182710 734196 LONG TERM DEBT 66672 166680 NOTES PAYABLE 274496 136388 --------- --------- 1523878 1037264 SHAREHOLDERS EQUITY SHARE CAP 3528188 3494898 DEFICIT 3319301 2622809 --------- --------- 208882 872089 --------- --------- 1732765 1909353 SIGNED ON BEHALF OF THE BOARD "J.R. BATEMAN" DIRECTOR "J.A. PETERS" DIRECTOR DYNAMIX CORPORATION CONSOLIDATED STATEMENT OF INCOME OLOSS) AND DEFICIT FOR THE NINE MONTHS ENDED JUNE 30,1999 1999 1998 REVENUE GEOPHYSICAL SERVICES 2027197 4066705 NATURAL GAS SALES-NET 33879 --------- --------- 2061076 EXPENSE OPERATING 1934465 3464106 GENERAL ADMINISTRATIVE 341373 322436 DEPRECIATION 160166 91240 --------- --------- 2436004 3877782 INCOME(LOSS) BEFORE OTHER CHARGES (374928) 188923 OTHER CHARGES LOSS ON DISPOSAL OF EQUIPMENT 550 1237 FINANCING FEES 19000 --------- --------- 550 20237 --------- --------- INCOME(LOSS) FOR THE PERIOD (375478) 168686 DEFICIT, BEGINNING OF PERIOD 2955204 2454123 DEFICIT, END OF PERIOD 3330682 2285437 NET INCOME(LOSS) PER SHARE 0.019 0.008