| Document
and Entity Information (USD $) |
3 Months Ended |
|
| Sep. 30,
2011 |
Nov. 14, 2011 |
| Document
and Entity Information |
|
| Entity
Registrant Name |
ALLIED RESOURCES INC
| |
| Document
Type |
10-Q |
|
| Document
Period End Date |
30-Sep-11 |
|
| Amendment
Flag |
FALSE |
|
| Entity
Central Index Key |
1211524 |
|
| Current
Fiscal Year End Date |
-19 |
|
| Entity
Common Stock, Shares Outstanding |
|
5,653,011 |
| Entity
Public Float |
|
$ 3,573,011 |
| Entity
Filer Category |
Smaller Reporting Comp=
any |
|
| Entity
Current Reporting Status |
Yes |
|
| Entity
Voluntary Filers |
No |
|
| Entity
Well-known Seasoned Issuer |
No |
|
| Document
Fiscal Year Focus |
2011 |
|
| Document
Fiscal Period Focus |
Q3 |
|
|
|
|
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| ALLIED
RESOURCES BALANCE SHEETS (USD $) |
Sep. 30, 2=
011 |
Dec. 31, 2010 |
| Assets,
Current: |
|
| Cash and
cash equivalent investments |
$ 1,301,600 |
|
$ 1,311,002 |
| Accounts
receivable |
81,789
| |
56,303
|
| Assets,
Current |
1,383,38=
9 |
|
1,367,30=
5 |
| Assets,
Noncurrent: |
|
| Oil and
gas properties (proven), net (succesful efforts method) |
834,414<=
/td>
| |
906,147<=
/td>
|
| Deferred
tax asset |
939,000<=
/td>
| |
906,000<=
/td>
|
| Deposits |
704,701<=
/td>
| |
704,701<=
/td>
|
| Assets |
3,861,50=
4 |
|
3,884,15=
3 |
| Liabilities,
Current: |
|
| Accounts
payable, net |
31,550
| |
29,716
|
| Liabilities,
Current |
31,550
| |
29,716
|
| Liabilities,
Noncurrent: |
|
| Asset
retirement obligation |
193,072<=
/td>
| |
186,142<=
/td>
|
| Liabilities,
Total: |
224,622<=
/td>
| |
215,858<=
/td>
|
| Stockholders'
Equity: |
|
| Common
stock, Value |
5,653
| [1] |
5,653
|
| Additional
Paid in Capital, Common Stock, Value |
9,848,85=
4 |
|
9,819,88=
0 |
| Accumulated
deficit |
-6,217,6=
25 |
|
-6,157,2=
38 |
| Stockholders'
Equity, Value |
3,636,88=
2 |
|
3,668,29=
5 |
| Liabilities
and Stockholders' Equity |
$ 3,861,504 |
|
$ 3,884,153 |
|
| [1] |
$.00=
1 par value;
50,000,000 shares authorized, 5,653,911 issued and outstanding |
|
|
|
|
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| ALLIED
RESOURCES UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS (USD $) |
3 Months E=
nded |
9 Months E=
nded |
| Sep. 30,
2011 |
Sep. 30, 2010 |
Sep. 30, 2011 |
Sep. 30, 2010 |
| Net Cash
Provided by (Used in) Operating Activities: |
|
| Net
Income (Loss) |
|
$ (60,387) |
$ (20,552) |
| Adjustments
to Reconcile Income (Loss) to Net Cash Provided by (Used in) Continuing
Operations |
|
| Depletion
and amortization |
24,871 |
31,077 |
71,733 |
85,641 |
| Stock
option compensation expense |
|
28,974 |
28,974 |
| Accretion
expense |
|
6,930 |
6,601 |
| Deferred
tax asset |
-33,000
| -9,000 |
-33,000
| -9,000 |
| Increase
in accounts receivable |
|
-25,486
| -28,235
|
| Increase
in accounts payable |
|
1,834 |
4,876 |
| Net cash
provided by operating activities |
|
-9,402 |
68,305 |
| Increase
in cash and cash equivalents |
|
-9,402 |
68,305 |
| CASH -
BEGINNING OF PERIOD |
|
1,311,002<=
/td>
| 1,177,765<=
/td>
|
| CASH -
END OF PERIOD |
$ 1,301,600 |
$ 1,246,070 |
$ 1,301,600 |
$ 1,246,070 |
|
|
|
|
|
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| Organization,
Consolidation and Presentation of Financial Statements |
3 Months Ended |
| Sep. 30,
2011 |
| Organization,
Consolidation and Presentation of Financial Statements |
|
| Organization, Consolidation and Presentation of Financial
Statements Disclosure and Significant Accounting Policies [Text Block]
| Note 1 ̵=
1; Basis
of Presentation |
|
| The
accompanying unaudited condensed financial statements have been prepared =
by
management in accordance with the instructions in Form 10-Q and, therefor=
e,
do not include all information and footnotes required by generally accept=
ed
accounting principles and should, therefore, be read in conjunction with
Allied’s Form 10-K for the year ended December 31, 2010, filed with=
the
Securities and Exchange Commission. These statements do include all normal
recurring adjustments which Allied believes necessary for a fair presenta=
tion
of the statements. The interim operations are not necessarily indicative =
of
the results to be expected for the full year ended December 31, 2011. |
|
|
| Note 2
– Additional Footnotes Included By Reference |
|
| There
has been no material changes in the information disclosed in the notes to=
the
financial statements included in Allied’s Form 10-K for the year en=
ded
December 31, 2010, filed with the Securities and Exchange Commission.
Therefore, those footnotes are included herein by reference. |
|
|
| Note 3
– Subsequent Events |
|
| Allied
evaluated its September 30, 2011 financial statements for subsequent even=
ts
through the date the financial statements were issued. Allied is not awar=
e of
any subsequent events which would require recognition or disclosure in the
financial statements. |
|
|
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