**SECURITIES
        AND EXCHANGE COMMISSION**
 
 **Washington,
        D.C. 20549**
  **FORM
        10-QSB**
 
 **ý**
              **Quarterly
                  Report Pursuant to Section 13 or 15 (d) of the Securities Exchange
                  Act of
                  1934for the period ended September 30,
                  2003**
 
 **o**
              **Transition
                  report under Section 13 or 15(d) of the Exchange Act for the transition
                  period from         
                  to**
  **Commission
        file number:   000-30805**
  **DUTCH
        GOLD RESOURCES, INC.**
 
 (FORMERLY
        SMALL TOWN RADIO, INC.)
 
 (Exact
        name of small business issuer as specified in its charter)
  **Nevada**
              
              **84-1125214**(State
                  of Incorporation)
              
              (I.R.S.
                  Employer Identification No.)**3500
                  Lenox Road, NE**Suite
                  1500Atlanta,
                  Georgia  30326(Address
                  of principal executive offices)**(404)
                  419-2440**(Issuer’s
                  telephone number, including area
                  code)
  Check
        whether the issuer (1) has filed all reports required to be filed by Section
        13
        or 15(d) of the Securities Exchange Act of1934 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 requirements for the past 90
        days.
 Yeso  
                     
Noý
  State
        the
        number of shares outstanding of each of the issuer’s classes of common equity,
        as of the latest practicable date:
 
  Class
              
              Outstanding
                  at September 30, 2003Common
                  Stock, par value $0.001 per share
              
              13,109,000
  Transitional
        Small Business Disclosure
        Format:                            
Yeso   
               
Noý
  
  TABLE
        OF CONTENTS
  PART
                  —
              FINANCIAL
                  INFORMATIONITEM
                  1.
              FINANCIAL
                  STATEMENTSCONSOLIDATED
                  BALANCE SHEETCONSOLIDATED
                  STATEMENTS OF OPERATIONCONSOLIDATED
                  STATEMENTS OF CASH FLOWSNOTES
                  TO CONSOLIDATED FINANCIAL
                  STATEMENTSITEM
                  2.
              MANAGEMENT’S
                  DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS
                  AND FINANCIAL CONDITIONFORWARD
                  LOOKING STATEMENTSOVERVIEW
                  AND RESULTS OF OPERATIONSTWELVE
                  MONTH BUSINESS OUTLOOKOPERATING
                  EXPENSES AND CAPITAL
                  EXPENDITURESSOURCE
                  OF REVENUEDISPOSITION
                  OF ASSETSOPERATING
                  LOSSESLIQUIDITY
                  AND CAPITAL RESOURCESITEM
                  3.
              CONTROLS
                  AND PROCEDURESPART
                  II
              —
OTHER
                  INFORMATIONITEM
                  1.
              LEGAL
                  PROCEEDINGSITEM
                  2.
              CHANGES
                  IN SECURITIES AND USE OF
                  PROCEEDSITEM
                  3.
              DEFAULTS
                  UPON SENIOR SECURITIESITEM
                  4.
              SUBMISSION
                  OF MATTERS TO A VOTE OF SECURITY
                  HOLDERSITEM
                  5.
              OTHER
                  INFORMATIONITEM
                  6.
              EXHIBITS
                  AND REPORTS ON FORM 8-KSIGNATURES
  i
 *Table
            of Contents*
  **DUTCH
                  GOLD RESOURCES, INC.****(Formerly
                  Small Town Radio, Inc.)****CONSOLIDATED
                  BALANCE SHEET****AS
                  OF SEPTEMBER 30, 2003**September
                  30, 2003**Assets**Current
                  AssetsBank
                  overdraft
              
              $
              (188
              )Total
                  current assets
              
              
              (188
              )TOTAL
                  ASSETS
              
              $
              (188
              )**Liabilities
                  and Stockholders' Deficit**Current
                  LiabilitiesNotes
                  payable-stockholders
              
              $
              655,300Accounts
                  payable
              
              
              619,118Accounts
                  payable-related party
              
              
              281,250Accrued
                  interest
              
              
              97,826Accrued
                  settlement costs
              
              
              260,000Loans
                  from shareholders
              
              
              27,982Total
                  current liabilities
              
              
              1,941,476Stockholders’
                  DeficitPreferred
                  stock, $.001 par value 100,000,000 authorized, no share issued
                  and
                  outstanding
              
              
              -Common
                  stock, $.001 par value 100,000,000 authorized, 11,059,000 issued
                  and
                  outstanding
              
              
              13,109Additional
                  paid-in-capital
              
              
              1,819,814Accumulated
                  deficit
              
              
              (3,774,587
              )Total
                  stockholders’ deficit
              
              
              (1,941,664
              )TOTAL
                  LIABILITIES AND STOCKHOLDERS' DEFICIT
              
              $
              (188
              )
  *See
        notes to consolidated financial statements*
  F-1
 *Table
            of Contents*
 
 **DUTCH
                  GOLD RESOURCES, INC.****(Formerly
                  Small Town Radio, Inc.)****CONSOLIDATED
                  STATEMENT OF OPERATIONS****FOR
                  THE THREE MONTHS ENDED SEPTEMBER 30, 2003 AND
                  2002**Three
                  Months Ended September 30, 2003
              
              
              Three
                  Months Ended September 30, 2002Net
                  Sales
              
              $
              -
              
              
              $
              31,008Operational
                  Expenses
              
              
              68,042
              
              
              
              193,333Operating
                  loss
              
              
              (68,042
              )
              
              
              (162,325
              )Other
                  income (expense)Interest
              
              
              (6,050
              )
              
              
              (15,975
              )Income
                  before income taxes
              
              
              (74,092
              )
              
              
              (178,300
              )Income
                  tax provision
              
              
              -
              
              
              
              -Net
                  income (loss)
              
              
              (74,092
              )
              
              
              (178,300
              )Basic
                  and fully diluted earnings per share
              
              $
              (0.01
              )
              
              $
              (0.02
              )Weighted
                  Average Shares Outstanding
              
              
              13,109,000
              
              
              
              10,023,172
 
 *See
        notes to consolidated financial statements*
  F-2
 *Table
            of Contents*
  **DUTCH
                  GOLD RESOURCES, INC.****(Formerly
                  Small Town Radio, Inc.)****CONSOLIDATED
                  STATEMENT OF CASH FLOWS****FOR
                  THE THREE MONTHS ENDED SEPTEMBER 30, 2003 AND
                  2002**Three
                  Months Ended September 30, 2003
              
              
              Three
                  Months Ended September 30, 2002Operating
                  ActivitiesNet
                  income (loss)
              
              $
              (74,092
              )
              
              $
              (178,300
              )Adjustments
                  to reconcile net loss to cash used by operating activitiesDepreciation
              
              
              -
              
              
              
              135Changes
                  in assets and liabilitiesAccounts
                  receivable
              
              
              -
              
              
              
              (5,606
              )Accounts
                  payable
              
              
              2,901
              
              
              
              112,152Accrued
                  interest
              
              
              6,050
              
              
              
              15,975Accrued
                  expenses
              
              
              8,172
              
              
              
              -Net
                  cash used by operating activities
              
              
              (56,969
              )
              
              
              (55,644
              )Investing
                  activitiesNote
                  receivable lending
              
              
              -
              
              
              
              -Net
                  cash used by investing activities
              
              
              -
              
              
              
              -Financing
                  activitiesIncrease
                  in notes payable-stockholders
              
              
              -
              
              
              
              57,000Loans
                  from shareholders
              
              
              56,250
              
              
              
              -Net
                  cash provided by financing activities
              
              
              56,250
              
              
              
              57,000Net
                  (decrease)increase in cash
              
              
              (719
              )
              
              
              1,356Cash,
                  beginning of period
              
              
              531
              
              
              
              48Cash,
                  end of period
              
              $
              (188
              )
              
              $
              1,404
 
 *See
        notes to consolidated financial statements*
  F-3
 *Table
            of Contents*
  **DUTCH
        GOLD RESOURCES, INC. (formerly SMALL TOWN RADIO,
        INC.)**
 **NOTES
        TO CONSOLIDATED FINANCIAL STATEMENTS**
 
 
 **NOTE 1—NATURE
        OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING
        POLICIES**
 
 The
        accompanying unaudited financial statements have been prepared in accordance
        with the instructions to Form 10-QSB and do not include all of the information
        and disclosures required by generally accepted accounting principles for
        complete financial statements. All adjustments which are, in the opinion
        of
        management, necessary for a fair presentation of the results of operations
        for
        the interim periods have been made and are of a recurring nature unless
        otherwise disclosed herein. The results of operations for such interim periods
        are not necessarily indicative of operations for a full year.
 
 
 **NATURE
        OF OPERATIONS**
 
 The
        Company was incorporated in Colorado on October 13, 1989 as Ogden, McDonald
        & Company for the purpose of seeking out acquisitions of properties,
        businesses, or merger candidates, without limitation as to the nature of
        the
        business operations or geographic location of the acquisition candidate.
        On July
        22, 1996, Ogden, McDonald & Company completed a transaction pursuant to
        which the shareholders of Worldwide PetroMoly Corporation, a Texas corporation,
        acquired approximately 90.6% of the shares outstanding in Ogden, McDonald
&
Company, and Worldwide PetroMoly Corporation became a wholly owned subsidiary
        of
        Ogden, McDonald & Company. On October 11, 1996, Ogden, McDonald &
Company changed its name to Worldwide PetroMoly, Inc.
 
 From
        July
        22, 1996, until June 1, 2001, the Company through Worldwide PetroMoly
        Corporation, engaged in the business of manufacturing, marketing and
        distributing a line of molybdenum fortified lubricant products called
        PetroMoly(TM), an engine oil additive designed to enhance and maintain
        engines.  On June 1, 2001, the Company consummated a transaction
        pursuant to which Small Town Radio, Inc., a Georgia corporation, was merged
        into
        our subsidiary created for the purpose of this merger. Pursuant to this
        transaction, all of the outstanding shares of Small Town Radio, Inc. were
        exchanged for shares of common stock. As a result, the former shareholders
        of
        Small Town Radio, Inc. now beneficially own an aggregate of 118,467,860 shares,
        approximately 75% of the Company's outstanding common stock as of the effective
        date of the merger. Also, and in connection with the acquisition of Small
        Town
        Radio, Inc. by the Company, on June 7, 2001 all of the capital stock of
        Worldwide PetroMoly Corporation was sold to Mr. Gilbert Gertner, the former
        Chairman of the Board.
 
 On
        May
        18, 2003, Small Town Radio, Inc. and its wholly owned subsidiary, Small Town
        Radio of Georgia, Inc., filed voluntary petitions under chapter 11 of title
        11,
        United States Code in the United States Bankruptcy Court for the Northern
        District of Georgia (Case Nos. 03-67044 and 03-67043,
        respectively).  The Company refocused to become a natural resources
        company, changing its name to Tombstone Western Resources, Inc. on May 1,
        2006.
        On December 7, 2007 the Company changed its name to Dutch Gold Resources,
        Inc.
        in anticipation of its’ acquisition of Dutch Mining, LLC which occurred January
        7, 2007.
 
 **PRINCIPLES
        OF CONSOLIDATION**
 
 The
        consolidated financial statements include the operations of Small Town
        Radio, Inc. and its wholly owned subsidiary. All intercompany accounts and
        transactions have been eliminated.
 
 **ORGANIZATIONAL
        AND START-UP EXPENSES**
 
 The
        Company has expensed all organizational and start-up expenses for financial
        reporting purposes.
 
 **EARNINGS
        PER SHARE**
 
 Earnings
        per share have been computed based upon the weighted-average common shares
        outstanding during each year. Diluted earnings per share have not been presented
        due to the Company incurring a loss from continuing operations.
  F-4
 *Table
            of Contents*
  **USE
        OF ESTIMATES**
 
 The
        preparation of financial statements in conformity with generally accepted
        accounting principles requires management to make estimates and assumptions
        that
        affect the reported amounts of assets and liabilities and disclosure of
        contingent assets and liabilities at the date of the consolidated financials
        statements and the reported amounts of revenues and expenses during the
        reporting period. Actual results could differ from those estimates.
 
  **REVENUE
        RECOGNITION**
 
 Revenue
        is recognized on an accrual basis as earned under contract terms.
 
 **INCOME
        TAX**
 
 The
        Company accounts for income taxes under Statement of Financial Accounting
        Standards No. 109 (“SFAS 109”). Under SFAS 109 deferred taxes are provided on a
        liability method whereby deferred tax assets are recognized for deductible
        temporary differences and operating loss carry-forwards and deferred tax
        liabilities are recognized for taxable temporary differences. Temporary
        differences are the differences between the reported amounts of assets and
        liabilities and their tax bases. Deferred tax assets are reduced by a valuation
        allowance when, in the opinion of management, it is more likely than not
        that
        some portion or all of the deferred tax assets will not be realized. Deferred
        tax assets and liabilities are adjusted for the effects of changes in tax
        laws
        and rates on the date of enactment.
 
  **FINANCIAL
        INSTRUMENTS**
 
 The
        carrying value of the Company’s financial instruments, as reported in the
        accompanying financial statements, approximates fair value.
 
 **FISCAL
        YEAR**
 
 The
        Company employs a fiscal year ending June 30.
 
 **STOCK
        BASED COMPENSATION**
 
 The
        Company accounts for employee and non-employee stock awards under SFAS 123(r),
        whereby equity instruments issued to employees for services are recorded
        based
        on the fair value of the instrument issued and those issued to non-employees
        are
        recorded based on the fair value of the consideration received or the fair
        value
        of the equity instrument, whichever is more reliably measurable.
 
 
 **NOTE 2—FINANCIAL
        CONDITION AND GOING CONCERN**
 
 The
        Company's continuance is dependent on raising capital and generating revenues
        sufficient to sustain operations. The Company believes that the necessary
        capital will be raised and has entered into discussions to do so with certain
        individuals and companies. However, as of the date of these consolidated
        financial statements, no formal agreement exists.
 
 The
        accompanying consolidated financial statements do not include any adjustments
        that might be necessary should the Company be unable to secure the necessary
        capital and continue as a going concern.
  F-5
 *Table
            of Contents*
  **ITEM
        2.    MANAGEMENT’S DISCUSSION AND ANALYSIS OF
        RESULTS OF OPERATIONS AND FINANCIAL CONDITION.**
 
 **Forward
        Looking Statements**
 
 This
        report may contain certain “forward-looking statements” including statements
        concerning plans, objectives, future events or performance and assumptions
        and
        other statements that are not statements of historical fact.  The Company
        cautions readers that the following important factors, among others, could
        cause
        the Company’s actual results to differ materially from the forward-looking
        statements contained in this report:  (i) the ability of the Company to
        successfully purchase radio stations in accordance with its business plan,
        and
        to successfully leverage these aggregated radio station operations to
        profitability; (ii) the ability of the Company to obtain adequate financing
        to
        operate and execute its business plan; (iii) the effect on the Company’s
        competitive position within its market area of the increasing consolidation
        within the radiobroadcast industry; (iv) the effect of changes in laws and
        regulations, including federal laws and regulations governing the ownership
        and
        operation of radio stations, with which the Company and its subsidiary must
        comply, and the associated costs of compliance with such laws and regulations
        either currently or in the future as applicable; (v) the effect of changes
        in
        accounting policies and practices, as may be adopted by the regulatory agencies
        as well as by the Financial Accounting Standards Board, or of changes in
        the
        Company’s organization, compensation and benefit plans; and (vi) shifts in
        population and demographics, competition, cost fluctuations, technology advances
        and challenges. The Company cautions that the foregoing list of important
        factors is not exclusive.
 
 **Overview
        and Results of Operations**
 
 Our
        business strategy is to complete the sale of the Company’s assets, seek
        additional financing to recapitalize the business and become a natural resources
        business.
 
 During
        the period ended September 30, 2003, the Company generated no revenue as
        an
        early-stage operating company.  From June 1, 2001 to date, the bulk of our
        activities have been focused on raising capital in order to fund our acquisition
        plan, which we have now decided to forego.
 
 During
        the three month interim period ended September 30, 2003, the Company incurred
        operating expenses of $68,042 and interest expenses of $6,050. The Company's
        net
        loss during the three month period ended September 30, 2003 was
        $74,092.
 
 **Twelve
        Month Business Outlook**
  We
        do not
        currently have funds sufficient to carry out any of our operations, or to
        execute our plan of becoming a natural resources company.  In order to act
        upon our operating plan discussed herein, we must be able to raise sufficient
        funds from (i) debt financing; or, (ii) new investments from private investors.
        There can be no assurance that we will be able to obtain debt or equity
        financing or generate sufficient revenue to produce positive cash flow from
        operations.
 
 
 **Operating
        Expenses and Capital Expenditures**
  *Operating
        Expenses*
 
 Assuming
        that the Company is successful raising funds, we anticipate incurring operating
        expenses of approximately $400,000 during the next twelve months.
 
 The
        primary operating expenses incurred include management and consulting fees
        associated with the sale of assets, fundraising and the transition to a natural
        resources company.
  *Table
            of Contents*
  **Source
        of Revenue**
 
 We
        do not
        anticipate generating revenues during the next twelve months.
 
 
 **Disposition
        of Assets**
 
 Assuming
        that the Company is successful in executing its asset disposition plan, we
        hope
        to generate proceeds greater than $250,000 from the resale of excess equipment
        and other assets.  However, there can be no assurance that we will be able
        to resell any acquired assets.  The Company’s ability to resell these
        assets, and the revenues derived from these asset dispositions, will be directly
        dependent upon prevailing external markets for radio equipment and related
        assets.
 
 **Operating
        Losses**
 
 Assuming
        that the Company is successful in executing its disposition plan realize
        an
        operating loss of approximately $159,000 during the next twelve months.
  **Liquidity
        and Capital Resources**
 
 We
        do not
        currently have funds sufficient to carry out any of our operating or to execute
        our plan of becoming a natural resources company. In order to act upon our
        operating plan discussed herein, we must be able to raise sufficient funds
        from
        (i) debt financing; or, (ii) new investments from private Investors. There
        can
        be no assurance that we will be able to obtain debt or equity financing or
        generate sufficient revenue to produce positive cash flow from
        operations.
 
 Our
        major
        sources of capital during the interim period ended September 30, 2003 have
        been
        short-term loans from our shareholders, as presented in the Statement of
        Cash
        Flow herein.
  We
        anticipate that, with the combination of the sale of assets and new investments
        from private investors, that these facilities would provide adequate capital
        to
        ensure sufficient liquidity and capitalization over the next twelve months.
        However, in addition to these potential sources of funds, we are also pursuing
        alternative sources of liquidity and capital resources to fund the on going
        operation of the Company.
 
 In
        conjunction with their audit report on our consolidated financial statements
        as
        of June 30, 2002, our independent certified public accountants expressed
        doubt
        about our ability to continue as a going concern because such continuance
        is
        dependent upon our ability to raise capital.
 
 
 **ITEM
        3.  Controls and Procedures**
 
 (a)
        Evaluation of Disclosure Controls and Procedures
 
 The
        Company maintains controls and procedures designed to ensure that information
        required to be disclosed in the reports that the Company files or submits
        under
        the  Securities  Exchange Act of 1934, as
        amended,  is recorded, processed, summarized and reported within the
        time periods specified in the rules and forms of the Securities and Exchange
        Commission.  Based upon their evaluation of those controls and
        procedures performed within 90 days of the filing date of this report, the
        Chief
        Executive and Financial Officer of the Company concluded that the Company's
        disclosure controls and procedures were adequate.
 
 (b)
        Changes in Internal Controls
 
 The
        Company made no significant  changes in its internal controls or in
        other factors that could significantly affect these controls subsequent to
        the
        date of the evaluation of those controls by its Chief  Executive and
        Financial Officer.
  *Table
            of Contents*
  **PART
        II — OTHER INFORMATION**
 
 **Item
        1.        Legal Proceedings**
 
 The
        Company is currently involved in a dispute with a former executive officer.
        We
        believe this matter can be settled by a payment of $350,000 to the former
        executive officer. Upon such payment, the shares held by the former executive
        officer may be forfeited in connection with the settlement and he will waive
        his
        rights to amounts due from the Company of $90,000. Accordingly, the net cost
        of
        the settlement if it occurs will be $260,000 and that amount is accrued for
        on
        September 30, 2003.
 
 
 **Item
        2.        Changes in
        Securities and Use of Proceeds**
  Not
        applicable.
   **Item
        3.        Defaults Upon
        Senior Securities**
  Not
        applicable.
 
 **Item
        4.        Submission of
        Matters to a Vote of Security Holders**
  Not
        applicable.
 
 
 **Item
        5.        Other Information**
  Not
        applicable
  
 **Item
        6.        Exhibits and
        Reports on Form 8-K**
  *Exhibits*.
 
 31.1
        - Certification  Pursuant to Section 302 of
        the  Sarbanes-Oxley Act of 2002
 
 32.1
        - Certification  Pursuant to Section 906 of
        the  Sarbanes-Oxley Act of 2002
 
 
 *Reports
        on Form 8-K*.  During the fiscal quarter ended September 30, 2003, the
        Company filed the following Current Reports on Form 8-K:
 
 None.
  *Table
            of Contents*
  **SIGNATURES**
 
 In
        accordance with Section 13 or 15(d) of the Exchange Act, the Registrant caused
        this report to be signed on its behalf by the undersigned, thereunto duly
        authorized.
 
 DUTCH
                  GOLD RESOURCES, INC.By:
              /s/Daniel
                  W. HollisDaniel
                  W. Hollis, Chief Executive OfficerBy:
              /s/Daniel
                  W. HollisDaniel
                  W. Hollis, Chief Financial Officer
 
 Date: November
        8, 2007