URANIUMCORE CO Files SEC form 10QSB, Quarterly Report

Released: 05/24/2006

Quarterly Report

Item 2. Managements Discussion and Analysis or Plan of Operation.

General

The following discussion and analysis should be read in conjunction with the Consolidated Condensed Financial Statements and Notes thereto appearing elsewhere herein. The following discussion contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934 and the Company intends that such forward-looking statements be subject to the safe harbors created thereby. These forward-looking statements include predictions, estimates and other statements that involve a number of risks and uncertainties. While this outlook represents the Company's current judgment on the future direction of the business, such risks and uncertainties could cause actual results to differ materially from any future performance suggested herein.

The Company has experienced recurring losses from operations and has relied on the sale of equity interests in the Company to fund its operations. If necessary, the Company intends to provide additional working capital through the sale of equity interests in the Company. Although, in the past, the Company has been able to provide working capital through the sale of equity interests in the Company, there can be no assurances that the Company will succeed in its efforts, which creates a doubt about its ability to continue as a going concern.

The Company has disposed of its business through a dividend distribution and intends to commence operations in the Uranium Mining Industry. Our plan is to explore this property to determine whether the property contains minable reserves of uranium.

Total expenditures over the next 12 months are therefore expected to be $650,000. Over the next 24 months we anticipate spending a total of $1,300,000. We will not be able to proceed with our exploration program, or meet our administrative expense requirements, without additional financing. We currently do not have a specific plan of how we will obtain such funding, however, we anticipate that additional funding will be in the form of equity financing from the sale of our common stock. We may also seek to obtain short-term loans from our director, although no such arrangement has been made.

At this time, we cannot provide investors with any assurance that we will be able to raise sufficient funding from the sale of our common stock or through a loan from our directors to meet our obligations over the next twelve months. We do not have any arrangements in place for any future equity financing. Due to these factors, raise substantial doubt that the Company will be able to continue as a going concern. To the extent management's plans are unsuccessful in circumventing the going concern uncertainty; the Company will cease all operations and no longer continue as a going concern.

In addition, we anticipate spending $10,000 on professional fees and $10,000 on other administrative expenses.

Top of page

News Release index