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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended May 29, 1996
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
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Commission File No. 0-27390
JUNGLE STREET, INC.
(Name of Small Business Issuer in its Charter)
UTAH 87-0368236
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(State or Other Jurisdiction of (I.R.S.
incorporated or organization) Employer I.D. No.)
1787 East Fort Union Blvd., #106
Salt Lake City, Utah 84121
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(Address of Principal Executive Offices)
Issuer's Telephone Number: (801) 942-7722
Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Sections 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 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.
(1) Yes X No (2) Yes X No
---- ---- ---- -----
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APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDINGS DURING THE PRECEDING FIVE YEARS
Not applicable.
APPLICABLE ONLY TO CORPORATE ISSUERS
Indicate the number of shares outstanding of each of the Registrant's classes
of common stock, as of the latest practicable date:
July 2, 1996
Common Voting Stock - 1,697,420
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements.
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The Financial Statements of the Registrant required to be filed with
this 10-QSB Quarterly Report were prepared by management and commence on the
following page. In the opinion of management, the Financial Statements fairly
present the financial condition of the Registrant.
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<TABLE>
<CAPTION>
JUNGLE STREET, INC.
BALANCE SHEETS
May 31, 1996 and August 31, 1995
05/31/96 08/31/95
[Unaudited]
<S> <C> <C>
ASSETS
Assets $ 0 $ 0
TOTAL ASSETS $ 0 $ 0
LIABILITIES & EQUITY
LIABILITIES
Current Liabilities
Accounts Payable $ 0 $ 0
Loans from Stockholders 9,814 1,000
Income taxes payable 100 100
Total Current Liabilities 9,914 1,100
TOTAL LIABILITIES 9,914 1,100
EQUITY
Common Stock 1,697 1,697
Paid-in Capital 228,757 228,757
Accumulated Deficit (240,368) (231,554)
TOTAL EQUITY (9,914) (1,100)
TOTAL LIABILITIES & EQUITY $ 0 $ 0
</TABLE>
NOTE TO FINANCIAL STATEMENTS:
Interim financial statements reflect all adjustments which are, in the opinion
of management, necessary to a fair statement of the results for the periods.
The August 31, 1995 balance sheet has been derived from the audited financial
statements. These interim financial statements conform with the requirements
for interim financial statements and consequently do not include all the
disclosures normally required by generally accepted accounting principles.
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JUNGLE STREET, INC.
STATEMENTS OF OPERATIONS
For the Three-Month and Nine-Month Periods Ended
May 31, 1996 and 1995
<TABLE>
<CAPTION>
Three Months Three Months Nine Months Nine Months
Ended Ended Ended Ended
05/31/96 05/31/95 05/31/96 05/31/95
[Unaudited] [Unaudited] [Unaudited] [Unaudited]
<S> <C> <C> <C> <C>
REVENUE
Income $ 0 $ 0 $ 0 $ 0
NET REVENUE 0 0 0 0
OPERATING
EXPENSES
office
expenses 0 0 190 0
Professional
Fees 1,746 6,247 8,624 6,247
TOTAL
OPERATING
EXPENSES 1,746 6,247 8,814 6,247
NET INCOME/
(LOSS) $(1,746) $(6,247) $(8,814) $(6,247)
NET LOSS
PER SHARE $ 0.01 $ 0.01 $ 0.01 $ 0.01
WEIGHTED
AVERAGE
NUMBER
OF SHARES
OUTSTAND-
ING 1,697,420 699,820 1,697,420 899,340
</TABLE>
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JUNGLE STREET, INC.
STATEMENTS OF CASH FLOWS
For the Nine-Month periods Ended
May 31, 1996 and 1995
<TABLE>
<CAPTION>
Nine Months Nine Months
Ended Ended
05/31/96 05/31/95
[Unaudited] [Unaudited]
<S> <C> <C>
Cash Flows Used for Operating
Activities
Net Loss $(8,814) $(6,247)
Adjustment to reconcile net
loss to net cash used in
operating activities:
Decrease in accounts
payable 0 (1,000)
Issuance of common stock
for services 0 6,147
Increase/(Decrease) in
franchise taxes payable 0 100
Net Cash Used for
Operating Activities (8,814) (1,000)
Cash Flows Provided by Financing
Activities
Loans from stockholders $ 8,814 $ 1,000
Net Cash Provided by
Financing Activities 8,814 1,000
Net Increase in Cash 0 0
Beginning Cash Balance 0 0
Ending Cash Balance 0 0
Supplemental Disclosure of Cash
Flow Information
Cash paid for interest $ 0 $ 0
Cash paid for income taxes 0 0
</TABLE>
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Item 2. Management's Discussion and Analysis or Plan of Operation.
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Plan of Operation.
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The Company has not engaged in any material operations in the last
fiscal year or the period ending May 31,1996. The Company intends to continue
to seek out the acquisition of assets, property or business that may be
beneficial to the Company and its stockholders.
Results of Operations.
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The Company discontinued its operations in approximately August, 1994.
During the quarterly period ended May 31, 1996, the Company received no
revenue. Expenses during this period totalled $1,746; the Company sustained a
net loss during this period of $1,746.
PART II - OTHER INFORMATION
Item 1. Legal Proceedings.
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None; not applicable.
Item 2. Changes in Securities.
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None; not applicable.
Item 3. Defaults Upon Senior Securities.
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None; not applicable.
Item 4. Submission of Matters to a Vote of Security Holders.
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No matter was submitted to a vote of security holders of the Company
during the period covered by this Report, whether through the solicitation of
proxies or otherwise.
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Item 5. Other Information.
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None. Not applicable.
Item 6. Exhibits and Reports on Form 8-K.
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(a) Exhibits.*
Exhibit
Number Description*
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27 Financial Data Schedule
(b) Reports on Form 8-K.
None.
*A summary of any Exhibit is modified in its entirety by reference to
the actual Exhibit.
SIGNATURES
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.
JUNGLE STREET, INC.
Date: 7/9/96 By /s/
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Don C. Morrison
Director and President
Date: 7/9/96 By /s/
----------------------
Jason Kershaw,
Director and Vice
President
Date: 7/9/96 By /s/
----------------------
Yolanda Oyler,
Director and
Secretary/Treasurer
<TABLE> <S> <C>
<ARTICLE> 5
<CIK> 0001004932
<NAME> JUNGLE STREET, INC.
<S> <C> <C>
<PERIOD-TYPE> 3-MOS 9-MOS
<FISCAL-YEAR-END> AUG-31-1996 AUG-31-1996
<PERIOD-END> MAY-31-1996 MAY-31-1996
<CASH> 0 0
<SECURITIES> 0 0
<RECEIVABLES> 0 0
<ALLOWANCES> 0 0
<INVENTORY> 0 0
<CURRENT-ASSETS> 0 0
<PP&E> 0 0
<DEPRECIATION> 0 0
<TOTAL-ASSETS> 0 0
<CURRENT-LIABILITIES> 9,914 9,914
<BONDS> 0 0
0 0
0 0
<COMMON> 1,697 1,697
<OTHER-SE> (11,611) (11,611)
<TOTAL-LIABILITY-AND-EQUITY> 0 0
<SALES> 0 0
<TOTAL-REVENUES> 0 0
<CGS> 0 0
<TOTAL-COSTS> 0 0
<OTHER-EXPENSES> 1,746 8,814
<LOSS-PROVISION> 0 0
<INTEREST-EXPENSE> 0 0
<INCOME-PRETAX> 0 0
<INCOME-TAX> 0 0
<INCOME-CONTINUING> 0 0
<DISCONTINUED> 0 0
<EXTRAORDINARY> 0 0
<CHANGES> 0 0
<NET-INCOME> (1,746) (8,814)
<EPS-PRIMARY> 0 0
<EPS-DILUTED> 0 0
</TABLE>
