SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 10-Q

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarter Ended June 30, 2017 Commission File No. 001-10156

ORIGINAL SIXTEEN TO ONE MINE, INC.
(Exact name of registrant as specified in its charter) 

                   CALIFORNIA                            94-0735390
      (State or other jurisdiction of     (I.R.S. Employer Identification No.)
        incorporated or organization)
Post Office Box 909, Alleghany, CA 95910
(Address of principal executive offices)

(530) 287-3223
(Registrant's telephone number)

(including area code)

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirement for the past 90 days.

N/A Voluntary Filer Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer,""accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer [ ] Accelerated filer [ ]

Non-accelerated filer [ ] (do not check if smaller reporting company)

Smaller reporting company [X]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-d of the Exchange Act). Yes [ ] No [X]

As of June 30, 2017, 14,338,855 shares of Common Stock, par value $.03 per share, were issued and outstanding.

PART I

ITEM 1. FINANCIAL INFORMATION

Original Sixteen to One Mine, Inc.
Condensed Balance Sheet

June 30, 2017 & December 31, 2016

ASSETS 

Current Assets
  Cash                                             $ 39,386    $    6,956
   Accounts receivable                               69,275       105,417
   Inventory                                        815,533     1,010,213
   Other current assets                                 -             -
                                                    -------       -------
    Total current assets                            924,194     1,122,586
                                                    -------       -------

Mining Property
   Real estate and property rights
        net of depletion of $524,145                230,401      230,401
   Mineral property                                  47,976       47,976
                                                    -------      -------
   Total Mining Property                            278,377      278,377
                                                    -------      -------

Fixed Assets at Cost
   Equipment                                        885,307      885,307
   Buildings                                        209,487      209,487
   Vehicles                                         171,522      171,522
                                                  ---------    ---------
  Total fixed assets at cost                      1,266,316    1,266,316
                                                  ---------    ---------
Less accumulated depreciation                   (1,162,380)  (1,151,296)
                                                -----------  -----------
   Net fixed assets                                103,936      115,020
                                                -----------  -----------

Other Assets
   Bonds and misc. deposits                         21,460       21,460
                                                  ---------      -------

   Total Assets                                  $1,327,967   $1,537,443
                                                ==========    ==========

Original sixteen to One Mine, Inc.
Condensed Balance Sheet Continued

LIABILITIES & STOCKHOLDERS' EQUITY
                                      June 30, 2017 & December 31, 2016

Current Liabilities
   Accounts payable & accrued expenses              $1,180,665 1,187,920
   Due to related party                                188,458   175,533
   Notes payable Short-term                            535,973   534,691
                                                      --------   -------
   Total Current Liabilities                        1,905,096  1,898,144
                                                      --------   -------

Long Term Liabilities
   Notes payable due after one year                    135,842   144,449
                                                      --------   -------
Total Liabilities                                   2,040,938  2,042,593
                                                      --------   -------

Stockholders' Equity
   Capital stock, par value $.03:
   30,000,000 shares authorized: 14,338,855
   issued and outstanding as of March 31,2017
   and as of December 31, 2016                     468,836       468,836
   Additional paid-in capital                    2,222,892     2,222,892
   (Accumulated deficit)
   Retained earnings                           (3,404,699)   (3,196,878)
                                              ------------   -----------
   Total Stockholders' Equity                    (712,971)     (505,150)
                                              ------------   -----------

Total Liabilities and Stockholders' Equity      $1,327,967    $1,537,443
                                              ============  ============

See Accompanying Notes

Original Sixteen to One Mine, Inc.
Statement of Operations and Retained Earnings

Three Months Ending June. 30, Six Months Ending June. 30, 

                              2017            2016           2017           2016
                             ------          ------         ------         -----
Revenues:
     Gold & Jewelry Sales     156,999       183,657       101,171       497,824
     Other Revenue             24,000        24,000        48,000        48,000

                             ---------    ---------      --------      --------
     Total revenues         $ 180,999 $    207,657   $    149,171   $   545,824
                             ---------    ---------      --------      --------
Operating expenses:
  Salaries and wages           15,000       15,000         30,000        30,000
  Contract Labor               72,962      122,291        141,930       214,549
  Utilities                    25,217       14,510         41,938        34,642
  Taxes - property & payroll    4,028        5,348          8,084        11,028
  Supplies                     10,862        9,079         20,110        36,560
  Insurance                     1,091        1,007          2,127         1,589
  Small equipment & repairs     3,052        3,697         21,466        25,024
  Drayage                       5,116        3,757          7,325         6,694
  Corporate expenses            7,341        5,617          9,181         9,517
  Legal and Compliance          1,404       21,993          7,322        24,446
  Mine Maintenance             23,335       14,700         42,702        39,861
  Depreciation & amortization   5,542        5,542         11,084        11,084
  Other expenses                1,928        1,191          2,821         4,706
                           ----------   ----------        -------       -------
  Total operating expenses    176,878      223,732        346,090       449,700
                          ----------    ----------       --------      --------
Profit (Loss) from operations   4,121     (16,075)      (196,919)        96,124

Other Income:                   1,642        1,155          3,229         1,955
Other Expense:                  7,133        8,573         13,330        23,098
                             --------     ---------      ---------    ---------
 Total Other income(expense)  (5,491)       (7,418)      (10,101)      (21,143)
                             --------    ----------       -------      --------
Profit (Loss) before taxes    (1,370)      (23,493)      (207,020)       74,981
                             --------    ----------     ---------     ---------
Income tax benefit (expense)    (800)                       (800)         (800)
                             --------    ----------      ---------     --------
Net profit (loss)      $      (2,170) $    (23,493)   $   (207,820)  $   74,181
                         ============    ===========    ==========   ==========

Basic and diluted (loss)
 earnings per share     $   (.0002)     $     .002   $     (.015)    $     .006
                      ============    ============      =========     =========
Shares used in the
calculation of net

(loss) income per share 14,338,855 13,399,505 14,338,855 13,399,505

See Accompanying Notes

Original Sixteen to One Mine, Inc. Statement of Cash Flows Six Months Ended June 30, 2017 and June 30, 2016 

                                             Six Months Ended June 30,
                                                 2017                   2016
                                           --------------         ------------


Net profit (loss)                             $   (207,820)        $     74,182
  Cash Flows From Operating Activities:
     Depreciation and amortization                  11,084               11,084
          (Increase)Decrease in
        accounts receivable                         36,142                   16
     Decrease(Increase) in inventory               194,680              221,831
     (Increase)Decrease in other
       current assets                                   -                  -
     (Decrease) increase in accounts payable
       and accrued expenses                        (7,255)               20,194
    (Decrease) increase in related party loans      12,925            (354,273)
    (Decrease) increase in short term notes          1,281            (496,643)

                                              ------------           ----------
  Net cash (used) provided by
     operating activities                           41,037            (523,609)
                                              ------------           ----------

Cash Flows From Investing Activities:
  Fixed Asset Purchases                              _                   -
  Proceed from sale real estate                      -                   -
  Other assets bonds misc. deposits                  -                 460
                                               -----------         -----------
  Net cash (used) provided by
    investing activities                             -                 460
                                                -----------         -----------

Cash Flows From Financing Activities

   Increase (decrease) notes payable               (8,607)             (7,203)
  Proceeds from sale of common stock                  -                  -
  Additional paid-in capital                          -                  -
                                                -----------        -----------
  Net cash provided (used) by
    financing activities                           (8,607)             (7,203)
                                               ------------        ------------

(Decrease) increase in cash                        32,430            (530,352)

Cash, beginning of period                           6,956              540,662
                                                ------------         ----------
Cash, end of period                               $39,386    $          10,310
                                               ============        ============

Supplemental schedule of other cash flows:

  Cash paid during the period for:

    Interest expense                         $      13,091         $     22,301
                                               ============         ===========
    Income taxes                             $         800          $       800
                                               ============         ===========

See Accompanying Notes

I. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Business: Original Sixteen to One Mine, Inc. (the Company) was incorporated in 1911 and is actively involved in operating The Sixteen to one mine in Alleghany, California.

Inventory: Inventory consists of gold bullion, specimens and jewelry. Gold bullion and specimens are quoted at the market price for gold bullion. Jewelry is quoted at the market price for gold content plus labor cost. Due to limitations of the Company's accounting software all inventory is accounted for using average cost.

Fixed Assets: Fixed assets are stated at historical cost. Depreciation is calculated using straight-line and accelerated methods over the following useful lives: Vehicles 3 to 5 years, Equipment 5 to 7 years, Buildings 18 to 31.5 years.

Depletion Policy: Because of the geological formation in the Alleghany Mining District, estimates of ore reserves cannot be calculated, and accordingly, a cost per unit depletion factor cannot be determined. Should estimates of ore reserves become available, the units of production method of depletion will be used. Until such time, no depletion deduction will be recorded.

Revenue Recognition: As they are mined, gold specimens are recorded in inventory and revenue is recognized using quoted market prices for gold. For income tax purposes revenues are not recognized until the gold is sold.

Use of Estimates: The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.

GENERAL NOTES

1. In accordance with directive from the Securities and Exchange Commission (SEC)and Industry Guide 7, reference for all intent and purposes to the Company's employees as miners, its properties as mines or its operation as mining does not diminish the fact that the Company has no proven reserves and is in the "exploration state" as defined in Guide 7(a)(4)(iii).

2. In the opinion of management, the financial statements contain all adjustments (consisting only of normal recurring accruals) necessary to present fairly the Company's financial position at June 30, 2017 and December 31, 2016, the results of operations and cash flows for the three-month and six- month periods ended June 30, 2017 and 2016. The unaudited financial statements have been prepared in accordance with Generally Accepted Accounting Principles for interim financial information and with the instructions to Form 10-Q and Item 310(b) of Regulation S-B.

II. MANAGEMENT'S DISCUSSION AND ANALYSIS OF PLAN OF OPERATION

The Sixteen to One mine in the Alleghany Mining District is a unique mine and requires a unique operation, which has been recognized by its owners, its miners, geologists, engineers, and some public agencies during the last decade of the twentieth century and to the present. It is a traditional high-grade, hard rock, underground gold mine. The same company owns and operates (maintains) the mine. Original Sixteen to One Mine Inc, (owner) was incorporated in California in 1911. Experts estimate that less than twenty percent of the deposit has been mined. Production is approximately 1,500,000 ounces of gold.

There are over thirty miles of horizontal workings and millions of cubic feet of vertical excavations called stopes. The entire grounds are not maintained for mining. Once an area is targeted for mining, travel ways and escape routes are brought into safety compliance. Production miners set up a heading (face) and begin a drill-blast-muck sequence into the quartz. Gold is hosted in the quartz vein in exceedingly rich concentrations called "pockets". Metal detectors are regularly used underground as a tool for guiding the direction of the work. Metal detectors are also used as a tool to classify the ore underground. This has the positive affect of reducing the volume of rock taken from the mine, thereby reducing costs.

In 1992, the company initiated a gold marketing plan of selling gold in quartz as a gemstone. This produces revenue significantly greater than selling gold into the spot market. Demand for the Sixteen to One gold-in-quartz gemstone exceeds supply.

Production has been termed a "feast or famine" situation for over 100 years. Reserves in a high-grade gold mine cannot be termed as "proven". By industry wide definition of phases of a mine operation, the operation during this quarter is rehabilitation. Due to the extensive workings and small size of the crew, maintenance and rehabilitation must periodically be prioritized over exploration, development and production. Exploration aims at locating the presence of economic deposits and establishing their nature, shape and grade. The investigation may be divided into (1) initial and (2) final. At the Sixteen to one the search for gold or ore embraces: (1) geological surveys;
(2) geophysical prospecting; (3) boreholes; (4) surface or underground headings, drifts or tunnels. When operations detect the presence of gold, the Company evaluates the indicators and if warranted, moves its operation from exploration to development. When the presence of gold is evaluated, the Company moves its operation into production. The company hoards gold and sells it according to short-term cash needs. This fact requires an operator to manage its cash flow to operate between pockets. It is difficult to undertake major expansion plans with an uncertain supply of capital. The Company has announced general plans to build a new shaft in the northern section of its Alleghany patented claims when funds are available.

BALANCE SHEET COMPARISONS

Assets:
For the six-month period from December 31, 2016 to June 30, 2017 cash increased by $32,430 (466%) and Accounts Receivable decreased by $36,142 (34%) due to payments on account by customers.

For the same six-month period inventory decreased by $194,680 (19%) due to the sale of inventory combined with a lack of gold-production. No gold production is anticipated while the company focuses its efforts on rehabilitation of the 49 winze.

Liabilities:
Liabilities did not change significantly.

STATEMENT OF OPERATIONS

Revenues for the three-month and six-month periods ended June 30, 2017 were $26,658 (13%) and $396,653 (73%)lower respectively than the same periods in 2016 primarily due to less gold sales in 2017 and higher cost-of-goods sold as more material was sold as bullion rather than value-added jewelry material in 2017.

Operating expenses for the three-month period ended June 30,2017 decreased overall by 21% compared to the same period in 2016. Specific categories which decreased substantially include: Contract Labor 40% due to a smaller crew in 2017, Legal & Compliance 94% due to penalties in 2016, Mine Maintenance 59% due to a smaller operation as noted above.

Operating expenses for the six-month period ended June 30,2017 decreased by 23% compared to the same period in 2016 due to changes in the categories listed above.

For the three-month period ended June 30, 2017 the company showed a loss of $2,170 compared to a loss of $23,493 for the same period in 2016. The 94% difference is due to lower operating expenses in 2017. For the six-month period ended June 30,2017 the company showed a loss of $207,820 compared to a profit of $74,181 for the same period in 2016. The 380% difference is primarily due to the lack of gold production in 2017 combined with higher cost- of-goods sold (COGS).

ITEM 3 QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

From time to time the Original Sixteen to One Mine, Inc. (the Company), will make written and oral forward-looking statements about matters that involve risks and uncertainties that could cause actual results to differ materially from projected results. Important factors that could cause actual results to differ materially include, among others:

- Fluctuations in the market prices of gold
- General domestic and international economic and political conditions
- Unexpected geological conditions or rock stability conditions resulting in cave-ins, flooding, rock-bursts or rock slides
- Difficulties associated with managing complex operations in remote areas
- Unanticipated milling and other processing problems
- The speculative nature of mineral exploration
- Environmental risks
- Changes in laws and government regulations, including those relating to taxes and the environment
- The availability and timing of receipt of necessary governmental permits and approval relating to operations, expansion of operations, and financing of operations
- Fluctuations in interest rates and other adverse financial market conditions
- Other unanticipated difficulties in obtaining necessary financing with specifications or expectations
- Labor relations
- Accidents
- Unusual weather or operating conditions
- Force majeure events
- Other risk factors described from time to time in the Original Sixteen to One Mine, Inc., filings with the Securities and Exchange Commission

Many of these factors are beyond the Company's ability to control or predict. Investors are cautioned not to place undue reliance on forward-looking statements. The Company disclaims any intent or obligation to update its forward-looking statements, whether as a result of receiving new information, the occurrence of future events or otherwise.

ITEM 4 CONTROLS AND PROCEDURES

See notes to financial statements.

PART II

ITEM 1 LEGAL PROCEEDINGS

The Company filed a petition for review with the United States court of Appeals for the Ninth Circuit, accepted July 12, 2016. File number is: No. 16-72349.

Original Sixteen to One Mine, Inc. (operator) and its miners (WE) have been adversely affected by an order of the Federal Mine Safety and Health Review Commission (FMSHRC) under the Federal Mine Safety and Health Act of 1977, Public Law 91-173 (ACT). WE ask for a review of such order in your court in our district, the Ninth Circuit. WE pray that the order be modified or set aside as allowed in Sec.106. (a)(1) of the ACT.

Citations were written outside of the law specified in SEC 4 under the heading, MINES SUBJECT TO ACT: Each coal or other mine, the products of which enter commerce, or the operations or products of which affect commerce, and each operator of such mine, and every miner in such mine shall be subject to the provisions of the ACT.

The Secretary of Labor is designated to carry out the intents by Congress of ACT, SEC. 2. Congress declares the importance of our most precious resource the miner. The Mine Safety and Health Administration (MSHA) was established to carryout CFR 30 Mineral Resources and issue citations. During the public hearing for citations, MSHA placed no supportive testimony to refute its position that Plumbago meets the requirement for regulations under ACT. No case rulings to support the Administrative Law Judge (ALJ) or FMSHRC decisions are entered into the record.

While there are instances where SEC. 4. language was challenged by an operator and the challenge fails, there are no cases or situations that resemble Plumbago. WE entered over eighty pages of testimony supporting our position, including the recent decision by the United States Supreme Court regarding the Affordable Care Act and its effect on interstate commerce.The argument that at one time, Plumbago was a mine and affected commerce, has merit.

The argument that the operation at Plumbago meets the requirement of SEC. 4. during recent times has no standing. MSHA actions followed by the ALJ and FMSHRC, violates the intent of Congress as written in ACT.

This important law must be honestly enforced in its entirety, not through a selective interpretational process. This behavior must be severed, not the law but its abuse. Only the Judicial Branch remains to protect the American miner from extinction by overreaching power. The Legislative Branch held numerous public meeting in the 1970s on the subject of mining health and safety in the industry. Congress passed a law for the Executive Branch to implement. Over a span of 39 years regulators have drifted away from its stated purposes. WE pray for relief and support from the Judicial Branch to return the course of health and safety to the most endangered species in America, the underground gold miner.

On May 30, 2017, the Company attorney contacted the governments attorneys and suggested Original Sixteen to One Mine, Inc (The Company) would consider a voluntary dismissal with each party to bear its own costs and fees. The attorneys for MSHA and the Secretary of Labor agreed and a stipulated motion for voluntary dismissal and granted by the Ninth Circuit on June 6, 2017. The illegality surrounding Section 4 of the Mine Act is an important subject for all miners. The Ninth Circuit is often characterized as an outlier court that is frequently reversed by the Supreme Court. Perhaps it would understand this issue and (as outlier) rule for The Company.

President Miller has given careful consideration to this issue. The time arrived to move MSHA into accountability in the 21st century regarding the law. Plumbago presented overwhelming facts that the Plumbago did not meet the intent of Congress in passing An Act in 1977. A Court challenge, however, must wait due to the Utah prairie dog.

The Tenth Circuit (Denver) on March 29, 2017 affirmed an Endangered Species Act (ESA) challenge that the intrastate Utah prairie dog required protection because: Interstate travelers stimulate interstate commerce through recreational observation and scientific study of endangered or threatened species. This decision added fuel to a burning California issue of the delta smelt, which the Ninth Circuit reasoned also affected interstate commerce (2014).

The Tenth Circuit expressly approved the Ninth Circuits reasoning in the delta smelt case, and similarly found the ESA had a substantial relation to interstate commerce even if the prairie dog itself did not. [We] conclude that Congress had a rational basis to believe that providing for the regulation of take of purely intrastate species like the Utah prairie dog is essential to ESAss comprehensive regulatory schemes. The Tenth Circuit ultimately therefore found that federal regulation of the purely intrastate prairie dog was within the federal power under the Commerce Clause.

The prairie dog case is recent and may lead to a request for review with the Supreme Court. Seeking review by the U.S. Supreme Court is always a time- consuming and expensive proposition, particularly since it requires 16/1 to go through the Ninth Circuit appellate process. The Company sees no chance of prevailing due to judicial affirmation of travelers admiring the Utah prairie dog over property rights of Utah residents.

ITEM 1A RISK FACTORS

The Company's liquidity is substantially dependent upon the results of operations. The Company maintains a gold inventory which it liquidates to satisfy working capital needs. There is no assurance that inventory is adequate to sustain the Company.

ITEM 2 UNREGISTERED SALES OF EQUITY

None

ITEM 3 DEFAULTS UPON SENIOR SECURITIES

None

ITEM 4 MINE SAFETY DISCLOSURES

For the three-month period ended June 30,2017 no citations under Section 104(a) S&S was issued. No citations under 104(b) Orders, 104 (d) S&S Citations Section
110 (b)(2) Violations or Section 107 (a) Orders were issued.

One citation was issued during the three-month period ended June 30, 2017. The penalty has not been assessed yet.

An appeal to a judges' decision has been filed (see LEGAL PROCEEDINGS above) for citations issued in previous periods.

Several citations from previous periods are being contested.

ITEM 5 OTHER INFORMATION

The unaudited interim consolidated financial statements of Original Sixteen to One Mine, Inc. (the Company) have been prepared by management in accordance with generally accepted accounting practices. Such rules allow the omission of certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted audited accounting principles as long as the statements are not misleading.

In the opinion of management, verified by signature below, all adjustments necessary for a fair presentation of these interim statements have been included. These adjustments are of a normal recurring nature.

The preparation of the Company's financial statements in conformity with accounting principles accepted in the United States requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements, as well as the reported amount of revenues and expenses during the reporting period. On an ongoing basis, management evaluates its estimates and assumptions; however, actual amounts could differ from those based on such estimates and assumptions. No accounting principle upon which the Company's financial status depends, requires estimates of proven and probable reserves and/or assumptions of future gold prices. Commodity prices may significantly affect the company's profitability and cash flow. No independent accounting firm or auditors have any responsibility for the accounting and written statements of the Form 10-Q.

The Company and its president assume responsibility for the accuracy of this filing and certify the financial statements present fairly in all material respects, the financial position of Original Sixteen to One Mine, Inc at June 30, 2017.

ITEM 6 SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

ORIGINAL SIXTEEN TO ONE MINE, INC.
(Registrant) 

/s/Michael M. Miller
President and Director
Dated:  August 15, 2017

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