##### Table of Contents



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 FORM 10-Q
 þ
    
    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the quarterly period ended March 31, 2008
  o
    
    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the transition period from  to
 Commission File No 001-32440
 READY MIX, INC.
  Nevada
    
    86-0830443(State or other Jurisdiction of
    
    (I.R.S. Employer Identification No.)incorporation or organization)
 3430 East Flamingo Road, Suite 100
Las Vegas, Nevada 89121
(702) 433-2090
 þ o
  Large accelerated filer o

    

    Accelerated filer o

    

    Non-accelerated filer  
þ
(Do not check if a smaller reporting company)

    

    Smaller reporting company o
 o þ
  3,809,500 shares of Common Stock, $.001 par value per share




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##### 



READY MIX, INC.
INDEX
REPORT ON FORM 10-Q
FOR THE QUARTER ENDED MARCH 31, 2008
 PART I. FINANCIAL INFORMATIONItem 1. Financial StatementsCondensed Balance Sheets  As of March 31, 2008 (Unaudited) and
December 31, 2007
    
    
    3Condensed Statements of Operations (Unaudited)  Three months ended
March 31, 2008 and 2007 and Changes in Stockholders
Equity (Unaudited)
    
    
    4Condensed Statements of Cash Flows (Unaudited)  Three months ended
March 31, 2008 and 2007
    
    
    5Notes to Condensed Financial Statements
    
    
    6Item 2. Managements Discussion and Analysis of Financial Condition and
Results of Operations
    
    
    14Item 3. Quantitative and Qualitative Disclosure About Market Risk
    
    
    21Item 4T. Controls and Procedures
    
    
    21PART II. OTHER INFORMATIONItem 1. Legal Proceedings
    
    
    22Item 1A. Risk Factors
    
    
    22Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
    
    
    22Item 3. Defaults Upon Senior Securities
    
    
    22Item 4. Submission of Matters to a Vote of Security Holders
    
    
    22Item 5. Other Information
    
    
    22Item 6. Exhibits
    
    
    22EX-31.1EX-31.2EX-32
  2




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##### Table of Contents



PART I  FINANCIAL INFORMATION
 
 Item 1. Financial Statements
 READY MIX, INC.
 
 CONDENSED BALANCE SHEETS
 March 31,
    
    
    December 31,2008
    
    
    2007(Unaudited)Assets:Current assets:Cash and cash equivalents
    
    $
    6,953,190
    
    
    $
    9,157,868Accounts receivable, net
    
    
    8,952,383
    
    
    
    7,892,523Inventory
    
    
    1,278,941
    
    
    
    1,151,926Prepaid expenses
    
    
    989,504
    
    
    
    1,156,086Due from affiliate
    
    
    
    
    
    
    37,859Income tax receivable
    
    
    366,601
    
    
    
    Deferred tax asset
    
    
    380,599
    
    
    
    359,396Total current assets
    
    
    18,921,218
    
    
    
    19,755,658Property and equipment, net
    
    
    26,089,380
    
    
    
    26,347,234Refundable deposits
    
    
    318,388
    
    
    
    176,188Total assets
    
    $
    45,328,986
    
    
    $
    46,279,080Liabilities and stockholders equity:Current liabilities:Accounts payable
    
    $
    3,444,450
    
    
    $
    3,888,856Accrued liabilities
    
    
    1,644,785
    
    
    
    2,023,403Notes payable
    
    
    2,226,273
    
    
    
    2,019,192Obligations under capital leases
    
    
    
    
    
    
    4,634Due to affiliate
    
    
    65,474
    
    
    
    Income tax payable
    
    
    
    
    
    
    11,738Total current liabilities
    
    
    7,380,982
    
    
    
    7,947,823Notes payable, less current portion
    
    
    8,010,380
    
    
    
    7,821,295Deferred tax liability
    
    
    1,290,823
    
    
    
    1,290,823Total liabilities
    
    
    16,682,185
    
    
    
    17,059,941Commitments and contingenciesStockholders equity:Preferred stock  $.001 par value; 5,000,000 shares authorized,
none issued and outstanding
    
    
    
    
    
    
    Common stock  $.001 par value; 15,000,000 shares authorized,
3,809,500 issued and outstanding
    
    
    3,810
    
    
    
    3,810Additional paid-in capital
    
    
    18,269,713
    
    
    
    18,190,971Retained earnings
    
    
    10,373,278
    
    
    
    11,024,358Total stockholders equity
    
    
    28,646,801
    
    
    
    29,219,139Total liabilities and stockholders equity
    
    $
    45,328,986
    
    
    $
    46,279,080
  3




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##### Table of Contents



READY MIX, INC.
 
 CONDENSED STATEMENTS OF OPERATIONS AND
 CHANGES IN STOCKHOLDERS EQUITY
(Unaudited)
 Three months endedMarch 31,2008
    
    
    2007Revenue:Revenue
    
    $
    15,690,411
    
    
    $
    19,710,557Revenue  related parties
    
    
    96,111
    
    
    
    651,885Total revenue
    
    
    15,786,522
    
    
    
    20,362,442Cost of revenue
    
    
    15,789,207
    
    
    
    18,261,428Gross profit (loss)
    
    
    (2,685
    )
    
    
    2,101,014General and administrative expenses
    
    
    1,031,850
    
    
    
    1,161,996Income (loss) from operations
    
    
    (1,034,535
    )
    
    
    939,018Other income (expense):Interest income
    
    
    71,338
    
    
    
    88,447Interest expense
    
    
    (27,520
    )
    
    
    (42,118
    )Other income (expense)
    
    
    (26,595
    )
    
    
    95,81017,223
    
    
    
    142,139Income (loss) before income taxes
    
    
    (1,017,312
    )
    
    
    1,081,157Income tax benefit (expense)
    
    
    366,232
    
    
    
    (382,671
    )Net income (loss)
    
    $
    (651,080
    )
    
    $
    698,486Basic net income (loss) per common share
    
    $
    (0.17
    )
    
    $
    0.18Diluted net income (loss) per common share
    
    $
    (0.17
    )
    
    $
    0.18Basic weighted average common
shares outstanding
    
    
    3,809,500
    
    
    
    3,807,500Diluted weighted average common
shares outstanding
    
    
    3,809,500
    
    
    
    3,818,693
 Common StockNumber of
    
    
    
    
    
    
    AdditionalShares
    
    
    
    
    
    
    Paid-in
    
    
    RetainedOutstanding
    
    
    Amount
    
    
    Capital
    
    
    EarningsBalance at January 1, 2008
    
    
    3,809,500
    
    
    $
    3,810
    
    
    $
    18,190,971
    
    
    $
    11,024,358Stock based compensation
    
    
    
    
    
    
    
    
    
    
    78,742Net loss for the three months
ended March 31, 2008
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (651,080
    )Balance at March 31, 2008
    
    
    3,809,500
    
    
    $
    3,810
    
    
    $
    18,269,713
    
    
    $
    10,373,278
  4




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##### Table of Contents



READY MIX, INC.
 
 CONDENSED STATEMENTS OF CASH FLOWS
(Unaudited)
 Three months endedMarch 31,2008
    
    
    2007Increase (decrease) in cash and cash equivalents:Cash flows from operating activities:Cash received from customers
    
    $
    14,784,597
    
    
    $
    20,243,860Cash paid to suppliers and employees
    
    
    (16,494,096
    )
    
    
    (17,440,156
    )Taxes paid
    
    
    (33,310
    )
    
    
    (181,202
    )Interest received
    
    
    71,338
    
    
    
    88,447Interest paid
    
    
    (27,520
    )
    
    
    (42,118
    )Net cash provided by (used in) operating activities
    
    
    (1,698,991
    )
    
    
    2,668,831Cash flows from investing activities:Purchase of property and equipment
    
    
    (22,629
    )
    
    
    (1,843,947
    )Cash received from sale of equipment
    
    
    111,726
    
    
    
    168,951Net cash provided by (used in) investing activities
    
    
    89,097
    
    
    
    (1,674,996
    )Cash flows from financing activities:Received from (paid to) due to affiliate
    
    
    103,333
    
    
    
    (46,088
    )Proceeds from notes payable
    
    
    
    
    
    
    1,335,942Repayment of notes payable
    
    
    (693,483
    )
    
    
    (921,747
    )Repayment of capital lease obligations
    
    
    (4,634
    )
    
    
    (121,843
    )Net cash provided by (used in) financing activities
    
    
    (594,784
    )
    
    
    246,264Net increase (decrease) in cash and cash equivalents
    
    
    (2,204,678
    )
    
    
    1,240,099Cash and cash equivalents at beginning of period
    
    
    9,157,868
    
    
    
    8,369,875Cash and cash equivalents at end of period
    
    $
    6,953,190
    
    
    $
    9,609,974Reconciliation of net income (loss) to net cash provided by (used in)
operating activities:Net income (loss)
    
    $
    (651,080
    )
    
    $
    698,486Adjustments to reconcile net income (loss) to net cash
provided by (used in) operating activities:Depreciation and amortization
    
    
    1,150,085
    
    
    
    993,816(Gain) loss on sale of equipment
    
    
    108,320
    
    
    
    (54,374
    )Deferred taxes, net
    
    
    (21,203
    )
    
    
    (6,546
    )Stock-based compensation expense
    
    
    78,742
    
    
    
    67,721Provision for doubtful accounts
    
    
    23,790
    
    
    
    (13,708
    )Changes in operating assets and liabilities:Accounts receivable
    
    
    (1,083,650
    )
    
    
    (160,018
    )Prepaid expenses
    
    
    166,582
    
    
    
    138,201Inventory
    
    
    (127,015
    )
    
    
    156,005Refundable deposits
    
    
    (142,199
    )
    
    
    991,944Accounts payable
    
    
    (444,406
    )
    
    
    155,210Accrued liabilities
    
    
    (378,618
    )
    
    
    (505,921
    )Income tax receivable (payable)
    
    
    (378,339
    )
    
    
    208,015Net cash provided by (used in) operating activities
    
    $
    (1,698,991
    )
    
    $
    2,668,831
  5




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##### Table of Contents



READY MIX, INC.
 
 NOTES TO CONDENSED FINANCIAL STATEMENTS
 1. Summary of Significant Accounting Policies and Use of Estimates:
 Presentation of Interim Information:
  Seasonal Variations:
  Nature of Corporation:
  Accounting Estimates:
   Revenue Recognition:
  Earnings per Share:
  6




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##### Table of Contents



READY MIX, INC.
NOTES TO CONDENSED FINANCIAL STATEMENTS
 1. Summary of Significant Accounting Policies and Use of Estimates (Continued):
 Stock-Based Compensation:
   
    
    Expected term is determined using a weighted average of the contractual term and vesting
period of the award;
    
    Expected volatility is measured using the average of historical daily changes in the
market price of the Companys common stock over the expected term of the award;
    
    Risk-free interest rate is equivalent to the implied yield on zero-coupon U.S. Treasury
bonds with a remaining maturity equal to the expected term of the awards; and
    
    Forfeitures are based on the history of cancellations of similar awards granted by the
Company and managements analysis of potential forfeitures.
 Recent Accounting Pronouncements:
      7




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##### Table of Contents



READY MIX, INC.
NOTES TO CONDENSED FINANCIAL STATEMENTS
 2. Stock-Based Compensation:
   Equity Incentive Plan
    Awards grantedduring the three
    
    Awards grantedmonths ended
    
    prior toMarch 31, 2008
    
    January 1, 2008Dividend yield
    
    
    0
    %
    
    
    0
    %Expected volatility
    
    
    35.5
    %
    
    
    21.4% - 39.1
    %Weighted-average volatility
    
    
    35.50
    %
    
    
    27.18
    %Risk-free interest rate
    
    
    3.00
    %
    
    
    5.00
    %Expected life of options (in years)
    
    
    5
    
    
    
    3-5Weighted-average grant-date fair value
    
    $
    2.31
    
    
    $
    2.40
  8




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##### Table of Contents



READY MIX, INC.
NOTES TO CONDENSED FINANCIAL STATEMENTS
 2. Stock-Based Compensation (Continued):
  Weighted AverageWeighted Average
    
    
    Remaining
    
    
    Aggregate
    
    
    AggregateExercise Price
    
    
    Contractual
    
    
    Fair
    
    
    IntrinsicShares
    
    
    per Share
    
    
    Term (1)
    
    
    Value
    
    
    Value (2)Outstanding January 1, 2008
    
    
    366,125
    
    
    $
    11.01
    
    
    
    2.75
    
    
    $
    935,166Granted
    
    
    20,000
    
    
    
    6.40
    
    
    
    
    
    
    
    46,200Exercised
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Forfeited or expired
    
    
    (4,500
    )
    
    
    11.00
    
    
    
    
    
    
    
    (8,775
    )Outstanding March 31, 2008
    
    
    381,625
    
    
    $
    10.77
    
    
    
    2.63
    
    
    $
    972,591
    
    
    $
    Exercisable March 31, 2008
    
    
    308,208
    
    
    $
    10.82
    
    
    
    2.41
    
    
    $
    185,543
    
    
    $
    
 
 (1)
    
    Remaining contractual term is presented in years.(2)
    
    The aggregate intrinsic value is calculated as the difference between the
exercise price of the underlying awards and the closing price of our common stock as of
March 31, 2008, for those awards that have an exercise price currently below the
closing price as of March 31, 2008. Awards with an exercise price above the closing
price as of March 31, 2008 are considered to have no intrinsic value.  Weighted AverageGrant-DateShares
    
    Fair ValueNonvested stock options at January 1, 2008
    
    
    149,375
    
    
    $
    2.61Granted
    
    
    20,000
    
    
    
    Vested
    
    
    (91,458
    )
    
    
    2.03Forfeited
    
    
    (4,500
    )
    
    
    1.95Nonvested stock options at March 31, 2008
    
    
    73,417
    
    
    $
    3.28
  3. Statement of Cash Flows:
 Non-Cash Investing and Financing Activities:
    9




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##### Table of Contents



READY MIX, INC.
NOTES TO CONDENSED FINANCIAL STATEMENTS
 4. Notes Payable:
  March 31,
    
    
    December 31,2008
    
    
    20075.99% note payable, with monthly payments of $471, due
September 28, 2008, collateralized by a vehicle
    
    $
    2,780
    
    
    $
    4,1385.31% note payable, with monthly payments of $1,730, due
March 22, 2009, collateralized by vehicles
    
    
    3,619
    
    
    
    4,8585.31% note payable, with monthly payments of $788, due
April 8, 2009, collateralized by a vehicle
    
    
    9,186
    
    
    
    11,4086.21% note payable, with monthly payments of $4,921 and a
principal payment of $443,902, due April 16, 2009, collateralized
by land
    
    
    471,662
    
    
    
    479,0436.34% note payable, with monthly payments of $3,450 and a
principal payment of $309,412, due April 16, 2009, collateralized
by land
    
    
    328,551
    
    
    
    333,6525.22% note payable, with monthly payments of $10,398, due
May 25, 2008, collateralized by equipment
    
    
    20,690
    
    
    
    51,3467.05% note payable, with monthly payments of $2,930 and a principal
payment of $254,742, due August 27, 2009, collateralized by land
    
    
    274,685
    
    
    
    278,6015.90% note payable, with monthly payments of $593, due
December 15, 2009, collateralized a vehicle
    
    
    11,809
    
    
    
    13,3985.90% notes payable, with combined monthly payments
of $5,322, due dates ranging from January 31, 2010
to March 11, 2010, collateralized by vehicles
    
    
    112,925
    
    
    
    127,0877.25% note payable, with monthly payments of $4,153, due
May 4, 2009, collateralized by equipment
    
    
    54,411
    
    
    
    66,4557.50% notes payable, with combined monthly principal payments
of $11,212 plus interest, due September 1, 2008, collateralized
by equipment
    
    
    56,061
    
    
    
    89,6976.85% notes payable, with combined monthly payments of $1,098,
due September 28, 2010, collateralized by vehicles
    
    
    30,200
    
    
    
    32,9466.85% note payable, with a monthly payment of $522, due
October 13, 2010, collateralized by a vehicle
    
    
    14,788
    
    
    
    16,0867.99% note payable, with monthly principal payments of
$14,362 plus interest, due March 25, 2011, collateralized
by equipment
    
    
    517,028
    
    
    
    560,114$
    1,908,395
    
    
    $
    2,068,829
 10




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##### Table of Contents



READY MIX, INC.
NOTES TO CONDENSED FINANCIAL STATEMENTS
 4. Notes Payable (Continued):
  March 31,
    
    
    December 31,2008
    
    
    2007Total from previous page
    
    $
    1,908,395
    
    
    $
    2,068,8298.14% note payable, with monthly principal payments of
$30,470 plus interest, due March 28, 2011, collateralized
by equipment
    
    
    1,096,934
    
    
    
    1,188,3468.45% notes payable, with combined monthly principal
payments of $26,182 plus interest, due June 28, 2011,
collateralized by equipment
    
    
    1,021,117
    
    
    
    1,099,6657.46% note payable, with a monthly payment of $13,867, due
May 26, 2021, collateralized by a building and land
    
    
    1,391,115
    
    
    
    1,406,6897.55% note payable, with a monthly payment of $550, due
July 20, 2011, collateralized by a vehicle
    
    
    19,386
    
    
    
    20,6547.90% note payable, with monthly principal payments of
$10,774 plus interest, due November 30, 2011,
collateralized by equipment
    
    
    474,068
    
    
    
    506,3917.04% note payable, with monthly principal payments of
$4,496 plus interest, due September 30, 2009,
collateralized by equipment
    
    
    80,934
    
    
    
    94,4237.13% note payable, with monthly principal payments of
$34,966 plus interest, due February 28, 2013,
collateralized by equipment
    
    
    2,063,020
    
    
    
    2,167,9197.94% note payable, with a monthly payment of $2,654, due
January 13, 2012, collateralized by vehicles
    
    
    104,936
    
    
    
    110,7367.13% note payable, with monthly principal payments of
$5,375 plus interest, due February 28, 2012,
collateralized by equipment
    
    
    252,641
    
    
    
    268,7677.35% note payable, with monthly principal payments of
$2,793 plus interest, due September 28, 2012,
collateralized by equipment
    
    
    150,805
    
    
    
    159,1836.77% note payable, with a monthly payment of $1,745, due
September 17, 2012, collateralized by vehicles
    
    
    81,051
    
    
    
    84,8736.25% notes payable, with combined monthly principal
payments of $5,705 plus interest, due January 28, 2012,
collateralized by equipment
    
    
    262,446
    
    
    
    $
    8,906,848
    
    
    $
    9,176,475
 11




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##### Table of Contents



READY MIX, INC.
NOTES TO CONDENSED FINANCIAL STATEMENTS
 4. Notes Payable (Continued):
  March 31,
    
    
    December 31,2008
    
    
    2007Total from previous page
    
    $
    8,906,848
    
    
    $
    9,176,4755.39% note payable, with monthly principal payments of
$2,695 plus interest, due March 21, 2012,
collateralized by equipment
    
    
    129,366
    
    
    
    5.65% note payable, with monthly principal payments of
$11,440 plus interest, due April 18, 2013,
collateralized by equipment
    
    
    686,427
    
    
    
    Line of credit, variable interest rate was 5.50% at March 31,
2008, interest only payments until December 31, 2008, 36 equal
monthly principal payments plus interest therafter, collateralized
by all of the Companys assets
    
    
    514,012
    
    
    
    664,01210,236,653
    
    
    
    9,840,487Less: current portion
    
    
    (2,226,273
    )
    
    
    (2,019,192
    )$
    8,010,380
    
    
    $
    7,821,295
  2009
    
    $
    2,226,2732010
    
    
    3,142,3432011
    
    
    2,046,6352012
    
    
    1,160,3412013
    
    
    636,073Subsequent to 2013
    
    
    1,024,988$
    10,236,653
 5. Line of Credit:
   12




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##### Table of Contents



READY MIX, INC.
NOTES TO CONDENSED FINANCIAL STATEMENTS
 6. Commitments:
    7. Earnings per Share:
   Three months endedMarch 31,2008
    
    2007Weighted average common shares
outstanding
    
    
    3,809,500
    
    
    
    3,807,500Dilutive
effect of: Stock options and warrants
    
    
    
    
    
    
    11,193Weighted average common shares
outstanding assuming dilution
    
    
    3,809,500
    
    
    
    3,818,693
 13




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##### Table of Contents



READY MIX, INC.
NOTES TO CONDENSED FINANCIAL STATEMENTS
 7. Earnings per Share (Continued):
   8. Income Taxes:
   
 Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations
 Forward-Looking Statement Disclosure
  14




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General
   Overview
   15




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##### Table of Contents



The Phoenix Housing Market Letter The Las
Vegas Housing Market Letter
 Critical Accounting Policies, Estimates and Judgments
      16




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##### Table of Contents



New Accounting Pronouncements
     17




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##### Table of Contents



Results of Operations
  Three months endedMarch 31,(dollars in thousands)
    
    2008
    
    
    2007(Unaudited)Revenue
    
    $
    15,690
    
    
    
    99.4
    %
    
    $
    19,710
    
    
    
    96.8
    %Related party revenue
    
    
    96
    
    
    
    0.6
    %
    
    
    652
    
    
    
    3.2
    %Total revenue
    
    
    15,786
    
    
    
    100.0
    %
    
    
    20,362
    
    
    
    100.0
    %Gross profit (loss)
    
    
    (3
    )
    
    
    0.0
    %
    
    
    2,101
    
    
    
    10.3
    %General and administrative expenses
    
    
    1,032
    
    
    
    6.5
    %
    
    
    1,162
    
    
    
    5.7
    %Income (loss) from operations
    
    
    (1,035
    )
    
    
    -6.6
    %
    
    
    939
    
    
    
    4.6
    %Interest income
    
    
    71
    
    
    
    0.5
    %
    
    
    88
    
    
    
    0.4
    %Interest expense
    
    
    (28
    )
    
    
    -0.2
    %
    
    
    (42
    )
    
    
    -0.2
    %Income tax benefit (expense)
    
    
    366
    
    
    
    2.3
    %
    
    
    (383
    )
    
    
    -1.9
    %Net income (loss)
    
    $
    (651
    )
    
    
    -4.1
    %
    
    $
    698
    
    
    
    3.4
    %Depreciation and
amortization
    
    $
    1,150
    
    
    
    7.3
    %
    
    $
    994
    
    
    
    4.9
    %
 Three Months Ended March 31, 2008 compared to Three Months Ended March 31, 2007
 Revenue
 Gross Profit (loss).
 Depreciation and Amortization.
 General and Administrative Expenses.
 18




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##### Table of Contents



Interest Income and Expense.
 Income Taxes.
 Net Income (loss).
 Liquidity and Capital Resources
     19




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##### Table of Contents



Three months endedMarch 31,(dollars in thousands)
    
    2008
    
    2007(Unaudited)Cash flows provided by (used in) operating activities
    
    $
    (1,699
    )
    
    $
    2,669Cash flows provided by (used in) investing activities
    
    
    89
    
    
    
    (1,675
    )Cash flows provided by (used in) financing activities
    
    
    (595
    )
    
    
    246
    Summary of Contractual Obligations and Commercial Commitments
  Payments Due by PeriodLess than
    
    
    1 - 3
    
    
    4 - 5
    
    
    More thanTotal
    
    
    1 Year
    
    
    Years
    
    
    Years
    
    
    5 Years(dollars in thousands)Contractual ObligationsLong-term debt obligations
    
    $
    10,237
    
    
    $
    2,227
    
    
    $
    5,189
    
    
    $
    1,796
    
    
    $
    1,025Interest payments on
long-term debt (1)
    
    
    1,838
    
    
    
    656
    
    
    
    786
    
    
    
    256
    
    
    
    140Operating lease obligations
    
    
    6,103
    
    
    
    2,501
    
    
    
    3,331
    
    
    
    271
    
    
    
    Purchase obligations
    
    
    23,097
    
    
    
    3,853
    
    
    
    6,011
    
    
    
    4,740
    
    
    
    8,493Other long-term liabilities (2)
    
    
    198
    
    
    
    198
    
    
    
    
    
    
    
    
    
    
    
    Total contractual obligations
    
    $
    41,473
    
    
    $
    9,435
    
    
    $
    15,317
    
    
    $
    7,063
    
    
    $
    9,658
 
 (1)
    
    Interest payments are based on the individual interest rates of each
obligation, which range from 5.22% to 8.45% per annum. We do not assume an increase in
the variable interest rate. See Note 4Notes payable in the accompanying condensed
financial statements.(2)
    
    Other long-term liabilities include an administrative services agreement with
Meadow Valley in the amount of $22,000 per month expiring December 31, 2008. 20




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##### Table of Contents



Website Access
  
 Item 3. Quantitative and Qualitative Disclosures About Market Risk
    
 Item 4T. Controls and Procedures
        21




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##### Table of Contents



PART II  OTHER INFORMATION
 
 Item 1. Legal Proceedings
  
 Item 1A. Risk Factors
  
 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
  
 Item 3. Defaults Upon Senior Securities
  
 Item 4. Submission of Matters to a Vote of Security Holders
  
 Item 5. Other Information
  
 Item 6. Exhibits
  31.1
    
    Certification of Chief Executive Officer Pursuant to Rules 13a-14 and 15d-14 of
the Securities Exchange Act of 193431.2
    
    Certification of Chief Financial Officer Pursuant to Rules 13a-14 and 15d-14 of
the Securities Exchange Act of 193432
    
    Certification of Chief Executive Officer and Chief Financial Officer Pursuant
to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act
of 2002
 22




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##### Table of Contents



SIGNATURE
  READY MIX, INC.
(Registrant)By
    /s/ Bradley E. LarsonBradley E. LarsonChief Executive OfficerMay 8, 2008By
    /s/ Clint TryonClint TryonChief  Financial Officer, Secretary and Treasurer
(Principal Accounting Officer)May 8, 2008 23