First Spouse Coins To Buy

10-Q/A: BIOLOG, INC

10-Q/A: BIOLOG, INC

(EDGAR Online via COMTEX) -- ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION

Forward Looking Statements

This Form 10-Q/A contains forward-looking statements (rather than historical facts) that involve risks and uncertainties. You can identify these statements by the use of forward-looking words such as "may," "will," "expect," "anticipate," "estimate," "continue" or other similar words. Such forward-looking statements discuss our current expectations of future results of operations or financial condition. However, there may be events in the future that we are unable to accurately predict or control and there may be risks, uncertainties and events that may cause our actual results to differ materially from the expectations we describe in our forward-looking statements, which could have a material adverse effect on our business, operating results and financial condition. The forward-looking statements included herein are only made as of the date of the filing of this Form 10-Q/A , and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

BASIS OF PRESENTATION

The unaudited financial statements of Biolog Inc., a Utah corporation ("Biolog," the "Company," "our" or "we"), should be read in conjunction with the notes thereto. In the opinion of management, the unaudited financial statements presented herein reflect all adjustments (consisting only of normal recurring adjustments) necessary for fair presentation. Interim results are not necessarily indicative of results to be expected for the entire year.

We prepare our financial statements in accordance with U.S. generally accepted accounting principals, which require that management make estimates and assumptions that affect reported amounts. Actual results could differ from these estimates.

DESCRIPTION OF BUSINESS

Corporate History

We were incorporated under the name "National Treasure Mines Company" on February 18, 1927 under the laws of the State of Utah. Our original purpose was to engage in, carry on and conduct a general mining business in the State of Utah.

On October 31, 1986, we approved the merger and reorganization between our Company and Roskamp Manley Associates Inc., a California corporation ("RMA"), resulting in RMA becoming our wholly owned subsidiary. RMA remained our wholly owned subsidiary until when it was unable to remain in good standing and did not reinstate its business charter in California, resulting in the dissolution of RMA.

Julia Grant First Spouse Gold Coins

On the reverse of the coin is a scene of young Julia Dent and her future husband Ulysses S. Grant. The two are pictured during their courtship, riding horseback on her family's plantation, White Haven. The inscriptions include "United States of America", "E Pluribus Unum", the legal tender face value, and the weight and fineness of the gold content. The reverse was designed by Richard Masters and sculpted by Charles L. Vickers. Initial pricing for the coins will be $929 for the proof version and $916 for the uncirculated version. This is based on an average gold price within the $1,500 to $1,549.99 range and may be adjusted throughout the course of sales as the average gold price moves into different pricing tiers. The previous Eliza Johnson gold coins had the same initial pricing, had a one week decrease, and then moved back to the original pricing. The following issues of the series remained available for approximately one year from the initial release date. The US Mint would end sales sales of one particular issue to coincide with the release of the coin one year ahead in the schedule. The only aberration to this pattern was when the US Mint ended sales of both the Letitia and Julia Tyler coins together to adjust for the extra coin issued for that year. The next change in the pattern of availability came with the 2010-dated releases. Each issue carried a maximum mintage of 15,000 and there was no reason to believe sales would proceed any differently than in the past. In early 2011, the proof version of the James Buchanan's Liberty coin unexpectedly sold out with sales well under the maximum mintage. It turned out that the US Mint had struck fewer than the maximum mintage based on demand forecasts, and no further coins could be produced since it was already 2011. Similar sell outs occurred for the other 2011 issues, and now the only one that remains available is the proof version of the Mary Todd Lincoln coin.

I was planning on going ahead and buying my 1 proof and 2 uncirculated Julia Grant coins today, since it seemed yesterday that gold was firmly in the current pricing tier, and might be flirting with an increase next week. However, I just saw on Kitco that gold has taken a serious hit this morning. Now I find myself wanting to wait a week or two to see if maybe I can save myself $75.

The FED is in disarray, the democrats want to continue spending like there is no problem, economic activity in third world countries like India and China are passing the USA up, the treasury secretary is stating we need more tax increases (i.e., less economic activity from the private sector), and we are currently fighting multiple wars. These are the facts. The price of gold drops $30 and everyone thinks it's going to $1000. I have to ask what is going to drive gold lower (other than overt manipulation)? I wish it was true...I really do...and not just from a coin purchasing standpoint (I am thinking of this country's future). Out leaders (and I use that word tongue and check) have lost control and we are in uncharted territory. Only fiscal sanity (and someone forgiving our debt) will drive gold down. Someone please let me know when that happens.

One-Minute Coin Expert

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