10-Q Filing

MESABI TRUST CIK: 65172 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001104659-13-047135`
Period End Date	20130430
Filing Date	20130605
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	msb-20130430.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 38 Income Statement 16 Cash Flow Statement 37

Balance Sheet 38 line items

Line Item	Tag	Value	Unit	Period
Certificate of beneficial interest of land trust, units	`CertificateOfBeneficialInterestUnits`	13.12M	shares	Point-in-time
Certificate of beneficial interest of land trust, units	`CertificateOfBeneficialInterestUnits`	13.12M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.11M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.23M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.73M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.25M	USD	Point-in-time
U.S. Government securities, at amortized cost (which approximates market)	`USGovernmentSecuritiesAtCarryingValue`	$438.81K	USD	Point-in-time
U.S. Government securities, at amortized cost (which approximates market)	`USGovernmentSecuritiesAtCarryingValue`	$460.96K	USD	Point-in-time
Accrued income receivable (Note 2)	`AccruedIncomeReceivable`	$218.05K	USD	Point-in-time
Accrued income receivable (Note 2)	`AccruedIncomeReceivable`	$1.60M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$56.57K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$54.73K	USD	Point-in-time
Current assets	`AssetsCurrent`	$3.34M	USD	Point-in-time
Current assets	`AssetsCurrent`	$7.44M	USD	Point-in-time
U.S. Government securities, at amortized cost (which approximates market)	`USGovernmentSecuritiesAtCarryingValueNoncurrent`	$205.06K	USD	Point-in-time
U.S. Government securities, at amortized cost (which approximates market)	`USGovernmentSecuritiesAtCarryingValueNoncurrent`	$182.29K	USD	Point-in-time
Amended Assignment of Peters Lease	`AmendedAssignmentsOfLeaseProperty`	$1.00	USD	Point-in-time
Amended Assignment of Peters Lease	`AmendedAssignmentsOfLeaseProperty`	$1.00	USD	Point-in-time
Assignment of Cloquet Lease	`AssignmentsOfLeasedProperty`	$1.00	USD	Point-in-time
Assignment of Cloquet Lease	`AssignmentsOfLeasedProperty`	$1.00	USD	Point-in-time
Certificate of beneficial interest for 13,120,010 units of land trust	`CertificateOfBeneficialInterestLandTrust`	$1.00	USD	Point-in-time
Certificate of beneficial interest for 13,120,010 units of land trust	`CertificateOfBeneficialInterestLandTrust`	$1.00	USD	Point-in-time
Total fixed property, including intangibles, at nominal values	`FixedPropertyIncludingIntangible`	$3.00	USD	Point-in-time
Total fixed property, including intangibles, at nominal values	`FixedPropertyIncludingIntangible`	$3.00	USD	Point-in-time
Total assets	`Assets`	$3.52M	USD	Point-in-time
Total assets	`Assets`	$7.65M	USD	Point-in-time
Distribution payable	`InterestAndDividendsPayableCurrent`	$1.05M	USD	Point-in-time
Distribution payable	`InterestAndDividendsPayableCurrent`	$6.43M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrentAndNoncurrent`	$137.99K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrentAndNoncurrent`	$34.93K	USD	Point-in-time
Total liabilities	`Liabilities`	$6.46M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.19M	USD	Point-in-time
Unallocated Reserve (Note 4)	`UnallocatedReserve`	$2.34M	USD	Point-in-time
Unallocated Reserve (Note 4)	`UnallocatedReserve`	$1.18M	USD	Point-in-time
Trust Corpus	`CapitalUnits`	$3.00	USD	Point-in-time
Trust Corpus	`CapitalUnits`	$3.00	USD	Point-in-time
Total Liabilities, unallocated reserve and trust corpus	`LiabilitiesAndStockholdersEquity`	$3.52M	USD	Point-in-time
Total Liabilities, unallocated reserve and trust corpus	`LiabilitiesAndStockholdersEquity`	$7.65M	USD	Point-in-time

Income Statement 16 line items

Line Item	Tag	Value	Unit	Period
Royalty income	`RoyaltyRevenue`	$2.53M	USD	1 Quarter
Royalty income	`RoyaltyRevenue`	$3.69M	USD	1 Quarter
Interest income	`InterestIncomeSecuritiesUSTreasuryAndOtherUSGovernment`	$390.00	USD	1 Quarter
Interest income	`InterestIncomeSecuritiesUSTreasuryAndOtherUSGovernment`	$325.00	USD	1 Quarter
Total revenues	`Revenues`	$2.53M	USD	1 Quarter
Total revenues	`Revenues`	$3.69M	USD	1 Quarter
Expenses	`GeneralAndAdministrativeExpense`	$326.42K	USD	1 Quarter
Expenses	`GeneralAndAdministrativeExpense`	$323.55K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.20M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.37M	USD	1 Quarter
Number of units outstanding	`WeightedAverageNumberOfUnitsOutstanding`	13.12M	shares	1 Quarter
Number of units outstanding	`WeightedAverageNumberOfUnitsOutstanding`	13.12M	shares	1 Quarter
Net income per unit (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$0.26	USD	1 Quarter
Net income per unit (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$0.17	USD	1 Quarter
Distributions declared per unit (Note 3) (in dollars per unit)	`DistributionDeclaredPerUnit`	$0.07	USD	1 Quarter
Distributions declared per unit (Note 3) (in dollars per unit)	`DistributionDeclaredPerUnit`	$0.08	USD	1 Quarter

Cash Flow Statement 37 line items

Line Item	Tag	Value	Unit	Period
Royalties received	`ProceedsFromRoyaltiesReceived`	$1.17M	USD	1 Quarter
Royalties received	`ProceedsFromRoyaltiesReceived`	$1.15M	USD	1 Quarter
Interest received	`InterestReceivedGovernmentSecurities`	$553.00	USD	1 Quarter
Interest received	`InterestReceivedGovernmentSecurities`	$541.00	USD	1 Quarter
Expenses paid	`PaymentsForOperatingActivities`	$369.02K	USD	1 Quarter
Expenses paid	`PaymentsForOperatingActivities`	$221.51K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$925.94K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$796.87K	USD	1 Quarter
Maturities of U.S. Government Securities	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$83.00K	USD	1 Quarter
Maturities of U.S. Government Securities	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$35.00K	USD	1 Quarter
Purchases of U.S. Government Securities	`PaymentsToAcquireHeldToMaturitySecurities`	$82.38K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$35.00K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$620.00	USD	1 Quarter
Distributions to Unitholders	`PaymentsOfDistributionsToUnitholders`	$6.43M	USD	1 Quarter
Distributions to Unitholders	`PaymentsOfDistributionsToUnitholders`	$9.97M	USD	1 Quarter
Net change in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-5.50M	USD	1 Quarter
Net change in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-9.14M	USD	1 Quarter
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.11M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.23M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$6.73M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$10.25M	USD	Point-in-time
Cash and cash equivalents, end of quarter	`CashAndCashEquivalentsAtCarryingValue`	$1.11M	USD	Point-in-time
Cash and cash equivalents, end of quarter	`CashAndCashEquivalentsAtCarryingValue`	$1.23M	USD	Point-in-time
Cash and cash equivalents, end of quarter	`CashAndCashEquivalentsAtCarryingValue`	$6.73M	USD	Point-in-time
Cash and cash equivalents, end of quarter	`CashAndCashEquivalentsAtCarryingValue`	$10.25M	USD	Point-in-time
Net income	`NetIncomeLoss`	$2.20M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.37M	USD	1 Quarter
Increase in accrued income receivable	`IncreaseDecreaseInAccruedInvestmentIncomeReceivable`	$1.38M	USD	1 Quarter
Increase in accrued income receivable	`IncreaseDecreaseInAccruedInvestmentIncomeReceivable`	$2.53M	USD	1 Quarter
Decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-1.84K	USD	1 Quarter
Decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-3.47K	USD	1 Quarter
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-48.94K	USD	1 Quarter
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$103.06K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$925.94K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$796.87K	USD	1 Quarter
Distributions declared	`DistributionsDeclared`	$852.80K	USD	1 Quarter
Distributions declared	`DistributionsDeclared`	$1.05M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.