SECURITIES AND EXCHANGE COMMISSION
                                 WASHINGTON, D.C.  20549


                                     FORM 10-Q/A



                      QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
                        OF THE SECURITIES EXCHANGE ACT OF 1934



   For the Quarter Ended March 31, 2012       Commission File No. 001-10156



                          ORIGINAL SIXTEEN TO ONE MINE, INC.
                (Exact name of registrant as specified in its charter)



                   CALIFORNIA                            94-0735390
      (State or other jurisdiction of     (I.R.S. Employer Identification No.)
        incorporated or organization)

                     Post Office Box 909, Alleghany, CA  95910
                      (Address of principal executive offices)


                                    (530) 287-3223
                            (Registrant's telephone number)
                                (including area code)

Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 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
requirement for the past 90 days.

                        Yes:                        No:   X



As of March 31, 2012, 13,399,505 shares of Common Stock, par value $.03 per
share, were issued and outstanding.

<page>


                                   PART I

1.  FINANCIAL INFORMATION

                        Original Sixteen to One Mine, Inc.
                              Condensed Balance Sheet
                     March 31, 2012 and December 31, 2011

                                    March 31, 2012       December 31, 2011
ASSETS

Current Assets
   Cash                                  $      730              $   6,339
   Accounts receivable                           -                   1,522
   Inventory                                354,676                396,883
                                         ----------             ----------
     Total current assets                   355,406                404,744
                                         ----------             ----------

Mining Property
   Real estate and property rights
      net of depletion of $524,145          230,401                230,401
   Real estate and mineral property          47,976                 47,976
                                         ----------             ----------
                                            278,377                278,377
                                         ----------             ----------
Fixed Assets at Cost
   Equipment                                810,404                810,404
   Buildings                                209,487                209,487
   Vehicles                                 105,414                105,414
                                         ----------             ----------
                                          1,125,305              1,125,305
Less accumulated depreciation            (1,068,822)            (1,066,860)
                                         ----------             ----------
     Net fixed assets                        56,483                 58,445
                                         ----------             ----------
Other Assets
   Bonds and misc. deposits                   5,460                  5,460
                                         ----------             ----------

     Total Assets                        $  695,726             $  747,026
                                         ==========             ==========

LIABILITIES & STOCKHOLDERS' EQUITY

Current Liabilities
   Accounts payable &
      accrued expenses                      860,297                815,746
Due to related party                        352,267                442,870
Notes payable due within one year               -                     -
                                         ----------             ----------
     Total Current Liabilities            1,212,564             1,258,616
                                         ----------             ----------
Long Term Liabilities
   Notes payable due after one year         97,236                  97,236
                                         ----------             ----------
     Total Liabilities                    1,309,800              1,355,852
                                         ----------             ----------

Stockholders' Equity
   Capital stock, par value $.03:
     30,000,000 shares authorized:
     13,399,505 shares issued and
     outstanding as of March 31, 2012 and
     as of December 31, 2011                440,656                440,656
   Additional paid-in capital             2,063,202              2,063,202
   (Accumulated deficit)
      retained earnings                  (3,117,932)           (3,112,684)
                                         ----------             ----------
     Total Stockholders' Equity           (614,074)              (608,826)
                                         ----------             ----------
Total Liabilities and
  Stockholders' Equity                   $  695,726             $  747,026
                                         ==========             ==========

                              See Accompanying Notes

<page>

                         Original Sixteen to One Mine, Inc.
                     Statement of Operations and Retained Earnings
                Three Months Ended March 31, 2012 and March 31, 2011

                             Three Months Ending March 31,
                                      2012            2011
                                    ------          ------
Revenues:
  Gold & jewelry sales             $  74,449  $     56,872
                                   -----------   -----------
     Total revenues                   74,449        56,872
                                 -----------   -----------
Operating expenses:
  Salaries and wages                  16,412        26,470
  Contract Labor                       2,367        11,622
  Telephone & utilities               10,718        15,603
  Taxes - property & payroll           5,846         6,362
  Insurance                              562         2,972
  Supplies                             3,239         3,648
  Small equipment & repairs            2,884         1,850
  Drayage                              3,034         4,240
  Corporate expenses                   1,500         1,500
  Legal and accounting                18,790         7,145
  Mine Maintenance                     2,540         8,250
  Depreciation & amortization          1,961         2,876
  Other expenses                       1,072         1,384
                                   ----------   ----------
  Total operating expenses            70,925        93,922
                                 ----------    ----------
  Profit (Loss) from operations        3,524      (37,050)

Other Income & Expenses:

Other Income                          1,978         5,797
Other Expenses                      (10,751)       (6,510)
                                    -------       --------
Total Other Income (Expense)         (8,773)          (713)
                                 ----------    -----------
Profit (Loss) before taxes           (5,249)       (37,763)
                                 ----------     -----------
Income Tax Benefit                       -             -
Net Profit (Loss)             $      (5,249)   $   (37,763)
                               ============     ===========

Basic and diluted Gain
   (Loss) per share           $      (.0001)   $     (.003)
                                 ============    ==========
Shares used in the
   calculation of net
   loss income per share           13,399,505    13,399,505
                                 ============    ==========


                              See Accompanying Notes

<page>


                      Original Sixteen to One Mine, Inc.
                           Statement of Cash Flows
         Three Months Ended March 31, 2012 and March 31, 2011

                                              Three Months Ended March 31,
                                               2012                   2011
                                         --------------         --------------
Cash Flows From Operating Activities:
Net profit (loss)                       $          (5,249)         $   (37,763)
  operating activities:
     Depreciation and amortization                   1,961                2,876
     (Increase)Decrease in
        accounts receivable                          1,522                  690
     Decrease(Increase) in inventory                42,209                  504
     (Increase)Decrease in other
       current assets                                  -                     -
     (Decrease) increase in accounts payable
       and accrued expenses                         44,551               16,863
    (Decrease) increase in short term notes       (90,603)                9,372


                                              ------------            ----------
  Net cash (used) provided by
     operating activities                          (5,609)              (7,458)
                                              ------------           -----------

Cash Flows From Investing Activities:

  Sale of Real Estate                                   -                 -
  Mining Claim fees, capitalized                        -                 -
  (Increase) Decrease Bonds, Misc Deposits              -                 2,502
                                             -------------           ----------

  Net cash (used) provided by
    investing activities                                -                 2,502
                                             -------------          -----------

Cash Flows From Financing Activities

  Increase (decrease) notes payable                      -                 -
  (Increase) decrease in notes receivable                -                 -
  Proceeds from sale of common stock                     -                 -
  Additional paid-in capital                             -                 -
                                              ------------         ------------
  Net cash provided (used) by
    financing activities                              -                     -
                                              ------------         ------------

  (Decrease) increase in cash                      (5,609)              (4,956)

Cash, beginning of period                            6,339                4,956
                                              ------------           ----------
Cash, end of period                            $       730        $          0
                                              ============         ============

Supplemental schedule of other cash flows:

  Cash paid during the period for:

    Interest expense                         $      11,441         $      6,363
    Income Taxes                             $          -          $         -
                                              ============          ============

                              See Accompanying Notes
<page>

                        NOTES TO THE FINANCIAL STATEMENTS

I.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Business: Original Sixteen to One Mine, Inc. (the Company) was
incorporated in 1911 and is actively involved in operating gold mines in
Alleghany, California; currently, in maintenance status.

Inventory: Inventory consists of gold bullion, specimens and jewelry.  Gold
bullion and specimens are quoted at the market price for gold bullion.
Jewelry is quoted at the market price for gold content plus labor cost.
Gold bullion is accounted for using the FIFO method.  All other inventory is
accounted for using the specific identification method.

Fixed Assets:  Fixed assets are stated at historical cost.  Depreciation is
calculated using straight-line and accelerated methods over the following
useful lives: Vehicles 3 to 5 years, Equipment 5 to 7 years, Buildings 18 to
31.5 years.

Depletion Policy:  Because of the geological formation in the Alleghany Mining
District, estimates of ore reserves cannot be calculated, and accordingly, a
cost per unit depletion factor cannot be determined.  Should estimates of ore
reserves become available, the units of production method of depletion will be
used.  Until such time, no depletion deduction will be recorded.

Revenue Recognition:  As they are mined, gold specimens are recorded in
inventory and revenue is recognized using quoted market prices for gold.
For income tax purposes revenues are not recognized until the gold is sold.

Use of Estimates:  The preparation of financial statements in conformity with
generally accepted accounting principles requires management to make estimates
and assumptions.  These estimates and assumptions affect the reported amounts
of assets and liabilities at the date of the financial statements and the
reported amounts of revenues and expenses during the reporting period.  Actual
results could differ from these estimates.

  GENERAL NOTES

1.  In accordance with directive from the Securities and Exchange Commission
(SEC)and Industry Guide 7, reference for all intent and purposes to the
Company's employees as miners, its properties as mines or its operation as
mining does not diminish the fact that the Company has no proven reserves and
is in the "exploration state" as defined in Guide 7(a)(4)(iii).

2. In the opinion of management, the financial statements contain all
adjustments (consisting only of normal recurring accruals) necessary to present
fairly the Company's financial position at March 31, 2012 and December 31,
2011, the results of operations and cash flows for the three-month periods
ended March 31, 2012 and 2011.  The unaudited financial statements have been
prepared in accordance with Generally Accepted Accounting Principles for
interim financial information and with the instructions to Form 10-Q and Item
310(b) of Regulation S-B.

II.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF PLAN OF OPERATION

The Sixteen to One mine in the Alleghany Mining District is a unique mine and
requires a unique operation, which has been recognized by its owners, its
miners, geologists, engineers, and some public agencies during the last decade
of the twentieth century and to the present.  It is a traditional high-grade,
hard rock, underground gold mine.  The same company owns and operates
(maintains) the mine. Original Sixteen to One Mine Inc, (owner) was
incorporated in California in 1911.  Experts estimate that less than twenty
percent of the deposit has been mined.  Production is approximately 1,500,000
ounces of gold.

There are over thirty miles of horizontal workings and millions of cubic
feet of vertical excavations called stopes.  The entire grounds are not
maintained for mining.  Once an area is targeted for mining, travel ways and
escape routes are brought into safety compliance.  Production miners set up a
heading (face) and begin a drill-blast-muck sequence into the quartz.  Gold is
hosted in the quartz vein in exceedingly rich concentrations called "pockets".
Metal detectors are regularly used underground as a tool for guiding the
direction of the work.  Metal detectors are also used as a tool to classify the
ore underground.  This has the positive affect of reducing the volume of rock
taken from the mine, thereby reducing costs.

In 1992, the company initiated a gold marketing plan of selling gold in quartz
as a gemstone.  This produces revenue significantly greater than selling gold
into the spot market.  Demand for the Sixteen to One gold-in-quartz gemstone
exceeds supply.

Production has been termed a "feast or famine" situation for over 100 years.
Reserves in a high-grade gold mine cannot be termed as "proven".  By industry
wide definition of phases of a mine operation, the operation during this
quarter is exploration. Exploration aims at locating the presence of economic
deposits and establishing their nature, shape and grade. The investigation may
be divided into (1) initial and (2) final. At the Sixteen to one the search for
gold or ore embraces: (1) geological surveys; (2) geophysical prospecting; (3)
boreholes; (4) surface or underground headings, drifts or tunnels. When
operations detect the presence of gold, the Company evaluates the indicators
and if warranted, moves its operation from exploration to development. When the
presence of gold is evaluated, the Company moves its operation into production.
The company hoards gold and sells it according to short-term cash needs.  This
fact requires an operator to manage its cash flow to operate between pockets.
It is difficult to undertake major expansion plans with an uncertain supply of
capital.  The Company has announced general plans to build a new shaft in the
northern section of its Alleghany patented claims when funds are available.


BALANCE SHEET COMPARISONS

For the three-month period ending March 31, 2012, current assets decreased by
$49,338 (12%) primarily due to a decrease in inventory.

Related-party payables decreased by $90,603 (20%) primarily due to the pay-off
of a note using gold inventory.


STATEMENT OF OPERATIONS

Revenues for the three-month period ending March 31, 2012 increased by $17,577
(31%) compared with the same period in 2011 due to increased sales in 2012.

For the three-month period ended March 31, 2012 compared to the same period in
2011 operating expenses decreased by $41,738 (44%) primarily due to less
activity in 2012. This is reflected by a decrease in salaries of $10,058 (38%),
a decrease in contract labor of $9,251 (80%), a decrease in utilities of $4,855
(31%), a decrease in insurance of $2,410 (81%) and a decrease in supplies of
 $409 (11%). The increase in legal and accounting of $11,645 (163%) was
mainly due to environmental compliance expenses related directly to the
settlement in January of case number 7097 (see legal proceedings below).

For the three-month period ended March 31, 2012 compared to the same period in
2011 other income decreased by $3,810 (65%) primarily due to donations to the
legal fund that were recieved in 2011 and not 2012. Other expenses increased by
$4,241(65%) due to increased interest expense in 2012.

For the three-month period ended March 31, 2012 compared to the same period in
2011 the company showed a loss of $5,249 compared to a loss of $37,763. The
change of $32,514 (86%) is attributable to higher revenue and lower
expenses for the first quarter of 2012.

LIQUIDITY AND CAPITAL RESOURCES

The Company's liquidity is substantially dependent upon the results of
operations.  The Company maintains a gold inventory which it liquidates to
satisfy working capital needs.  There is no assurance that inventory is
adequate to sustain the Company.

PART II

LEGAL PROCEEDINGS

In July 2009 the Company and its president were served a complaint for damages
in Superior Court of the State of California, County of Sierra by the
California Regional Water Quality Control Board, Central Valley Region.
On March 18,2011, the second, third and fourth causes of action were dismissed
leaving only the first cause of action; also, Michael Miller was dismissed as
a defendant in the case.  The case number is: No. 7019.

On January 6, 2010, the California Department of Conservation, formally the
Division of Mines and Geology filed a complaint for statutory reporting and
mining fees and penalties alleging failures by the Company.  Various Public
Resources Code Sections were cited substantially related to surface mining.
On January 25, 2012 the Company agreed to settle under serious duress due to
its lack of money to wage a defense on the advice of its attorney. Settlement
amount is $30,000, payable at $500 per month. The Company denies any
wrongdoing.  The pressure and threats from State of California agents
complimented its monetary extortion instead of the right of due process and a
public trial. Case number 7097

SUBSEQUENT EVENTS

none

OTHER INFORMATION

The unaudited interim consolidated financial statements of Original Sixteen to
One Mine, Inc. (the Company) have been prepared by management in accordance
with generally accepted accounting practices.  Such rules allow the omission of
certain information and footnote disclosures normally included in financial
statements prepared in accordance with generally accepted audited accounting
principles as long as the statements are not misleading.

In the opinion of management, verified by signature below, all adjustments
necessary for a fair presentation of these interim statements have been
included.  These adjustments are of a normal recurring nature.

The preparation of the Company's financial statements in conformity with
accounting principles accepted in the United States requires management to make
estimates and assumptions.  These estimates and assumptions affect the reported
amounts of assets and liabilities and disclosure of contingent liabilities at
the date of the financial statements, as well as the reported amount of
revenues and expenses during the reporting period.  On an ongoing basis,
management evaluates its estimates and assumptions; however, actual amounts
could differ from those based on such estimates and assumptions.  No accounting
principle upon which the Company's financial status depends, requires estimates
of proven and probable reserves and/or assumptions of future gold prices.
Commodity prices may significantly affect the company's profitability and cash
flow.  No independent accounting firm or auditors have any responsibility for
the accounting and written statements of the Form 10-Q.

The Company and its president assume responsibility for the accuracy of this
filing and certify the financial statements present fairly in all material
respects, the financial position of Original Sixteen to One Mine, Inc at March
31, 2012.

CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE
PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

From time to time the Original Sixteen to One Mine, Inc.  (the Company), will
make written and oral forward-looking statements about matters that involve
risks and uncertainties that could cause actual results to differ materially
from projected results.  Important factors that could cause actual results to
differ materially include, among others:

- Fluctuations in the market prices of gold
- General domestic and international economic and political
  conditions
- Unexpected geological conditions or rock stability conditions
  resulting in cave-ins, flooding, rock-bursts or rock slides
- Difficulties associated with managing complex operations in remote areas
- Unanticipated milling and other processing problems
- The speculative nature of mineral exploration
- Environmental risks
- Changes in laws and government regulations, including those
  relating to taxes and the environment
- The availability and timing of receipt of necessary governmental
  permits and approval relating to operations, expansion of operations,
  and financing of operations
- Fluctuations in interest rates and other adverse financial market conditions
- Other unanticipated difficulties in obtaining necessary financing with
  specifications or expectations
- Labor relations
- Accidents
- Unusual weather or operating conditions
- Force majeure events
- Other risk factors described from time to time in the Original Sixteen to One
Mine, Inc., filings with the Securities and Exchange Commission

Many of these factors are beyond the Company's ability to control or predict.
Investors are cautioned not to place undue reliance on forward-looking
statements.  The Company disclaims any intent or obligation to update its
forward-looking statements, whether as a result of receiving new information,
the occurrence of future events or otherwise.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

ORIGINAL SIXTEEN TO ONE MINE, INC.
(Registrant)


/s/Michael M. Miller
President and Director
Dated: November 13,2012