10-Q Filing

MESABI TRUST CIK: 65172 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001104659-14-044501`
Period End Date	20140430
Filing Date	20140606
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	msb-20140430.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 37 Income Statement 15 Cash Flow Statement 38

Balance Sheet 37 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`	$1.23M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.72M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.73M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$518.62K	USD	Point-in-time
U.S. Government securities, at amortized cost (which approximates market)	`USGovernmentSecuritiesAtCarryingValue`	$82.32K	USD	Point-in-time
U.S. Government securities, at amortized cost (which approximates market)	`USGovernmentSecuritiesAtCarryingValue`	$205.06K	USD	Point-in-time
Accrued income receivable	`AccruedIncomeReceivable`	$45.52K	USD	Point-in-time
Accrued income receivable	`AccruedIncomeReceivable`	$63.25K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$54.95K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$53.97K	USD	Point-in-time
Current assets	`AssetsCurrent`	$8.04M	USD	Point-in-time
Current assets	`AssetsCurrent`	$700.44K	USD	Point-in-time
U.S. Government securities, at amortized cost (which approximates market)	`USGovernmentSecuritiesAtCarryingValueNoncurrent`	$528.59K	USD	Point-in-time
U.S. Government securities, at amortized cost (which approximates market)	`USGovernmentSecuritiesAtCarryingValueNoncurrent`	$510.57K	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`	$1.23M	USD	Point-in-time
Total assets	`Assets`	$8.55M	USD	Point-in-time
Distribution payable	`InterestAndDividendsPayableCurrent`	$7.48M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrentAndNoncurrent`	$91.29K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrentAndNoncurrent`	$107.72K	USD	Point-in-time
Total liabilities	`Liabilities`	$7.57M	USD	Point-in-time
Total liabilities	`Liabilities`	$107.72K	USD	Point-in-time
Unallocated Reserve (Note 4)	`UnallocatedReserve`	$1.12M	USD	Point-in-time
Unallocated Reserve (Note 4)	`UnallocatedReserve`	$984.09K	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`	$1.23M	USD	Point-in-time
Total Liabilities, unallocated reserve and trust corpus	`LiabilitiesAndStockholdersEquity`	$8.55M	USD	Point-in-time

Income Statement 15 line items

Line Item	Tag	Value	Unit	Period
Royalty income	`RoyaltyRevenue`	$2.53M	USD	1 Quarter
Royalty income	`RoyaltyRevenue`	$501.30K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.13K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$390.00	USD	1 Quarter
Total revenues	`Revenues`	$2.53M	USD	1 Quarter
Total revenues	`Revenues`	$503.44K	USD	1 Quarter
Expenses	`GeneralAndAdministrativeExpense`	$326.42K	USD	1 Quarter
Expenses	`GeneralAndAdministrativeExpense`	$366.22K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.20M	USD	1 Quarter
Net income	`NetIncomeLoss`	$137.22K	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`	$0.17	USD	1 Quarter
Net income per unit (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Distributions declared per unit (Note 3) (in dollars per unit)	`DistributionDeclaredPerUnit`	$0.08	USD	1 Quarter

Cash Flow Statement 38 line items

Line Item	Tag	Value	Unit	Period
Royalties received	`ProceedsFromRoyaltiesReceived`	$1.15M	USD	1 Quarter
Royalties received	`ProceedsFromRoyaltiesReceived`	$520.94K	USD	1 Quarter
Interest received	`InterestReceivedGovernmentSecurities`	$229.00	USD	1 Quarter
Interest received	`InterestReceivedGovernmentSecurities`	$553.00	USD	1 Quarter
Expenses paid	`PaymentsForOperatingActivities`	$348.82K	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`	$172.35K	USD	1 Quarter
Maturities of U.S. Government Securities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities`	$105.00K	USD	1 Quarter
Maturities of U.S. Government Securities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities`	$83.00K	USD	1 Quarter
Sale of U.S. Government Securities	`ProceedsFromSaleOfHeldToMaturitySecurities`	$100.06K	USD	1 Quarter
Purchases of U.S. Government Securities	`PaymentsToAcquireHeldToMaturitySecurities`	$100.34K	USD	1 Quarter
Purchases of U.S. Government Securities	`PaymentsToAcquireHeldToMaturitySecurities`	$82.38K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$620.00	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$104.72K	USD	1 Quarter
Distributions to Unitholders	`PaymentsOfDistributionsToUnitholders`	$7.48M	USD	1 Quarter
Distributions to Unitholders	`PaymentsOfDistributionsToUnitholders`	$6.43M	USD	1 Quarter
Net change in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-5.50M	USD	1 Quarter
Net change in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-7.20M	USD	1 Quarter
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.23M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$7.72M	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`	$518.62K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.23M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.72M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.73M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$518.62K	USD	Point-in-time
Net income	`NetIncomeLoss`	$2.20M	USD	1 Quarter
Net income	`NetIncomeLoss`	$137.22K	USD	1 Quarter
Decrease (increase) in accrued income receivable	`IncreaseDecreaseInAccruedInvestmentIncomeReceivable`	$-17.73K	USD	1 Quarter
Decrease (increase) in accrued income receivable	`IncreaseDecreaseInAccruedInvestmentIncomeReceivable`	$1.38M	USD	1 Quarter
Decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-1.84K	USD	1 Quarter
Decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-978.00	USD	1 Quarter
Increase in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$103.06K	USD	1 Quarter
Increase in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$16.42K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$925.94K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$172.35K	USD	1 Quarter
Distributions payable	`DistributionsDeclared`	$1.05M	USD	1 Quarter

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