Commission File
Number 333-6388
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 1O-QSB
QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 1997
VIVA GOLF MANUFACTURING, INC.
(Exact Name of Small Business Issuer as Specified in Its Charter)
Florida 65-0594832
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
737 N.E. 70th Street
Boca Raton, Florida 33487
(Address of Principal Executive Office) (Zip Code)
Registrant's telephone number, including area code: (800) 216-4083
Check whether issuer (1) filed in reports required to be filed by Section
13 or 15(d) of the Exchange Act 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|
Number of shares of Common Stock outstanding as of September 30, 1997:__________
Transitional Small Business Disclosure Format (Check One): Yes |_| No |_|
<PAGE>
Viva Golf Mfg & Sub
Balance Sheet
as of September 30, 1997
Sep 30, 97
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ASSETS
Current Assets
Checking/Savings
108 - Republic Checking 189.98
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Total Checking/Savings 189.98
Other Current Assets
236 - Inventory Golf Clubs 4,062.00
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Total Other Current Assets 4,062.00
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Total Current Assets 4,251.96
Fixed Assets
233 - Equipment Fixed Assets 1,370.31
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Total Fixed Assets 1,370.31
Other Assets
251 - Other Assets
257 - Organization Costs 7,664.00
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Total 261 - Other Assets 7,664.00
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Total Other Assets 7,664.00
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TOTAL ASSETS 13,288.29
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LIABILITIES & EQUITY
Liabilities
Current Liabilities
Other Current Liabilities
350 - Loan Payable
332 - LP to bal audit 11/30/98 18,372.00
331 - LP GMM, Ltd 25,997.31
337 - LP audit 8/30/98 1,880.00
338 - LP audit 3/31/97 9,362.00
341 - LP Edco Financial 25,000.00
347 - LP Shdrs StockRetire 5,000.00
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Total 330 - Loan Payable 85,611.31
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Total Other Current Liabilities 85,611.31
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Total Current Liabilities 85,611.31
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Total Liabilities 85,611.31
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Equity
370 - Capital Stock
371 - Common Stock Par $.001 11,700.00
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Total 378 - Capital Stock 11,700.00
3008 - Retained Earnings (48,711.00)
Net Income (35,314.02)
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Total Equity (72,325.02)
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TOTAL LIABILITIES & EQUITY 13,296.28
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<PAGE>
Viva Golf Mfg & Sub
Profit and Loss
as of September 30, 1997
Jul -
Sep 97
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Ordinary Income/Expenses
Income
487 - Wholesale Sales 3,482.34
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Total Income 3,482.34
Cost of Goods Sold
995 - Cost of Goods Sold Equipment 0.00
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Total Cost 0.00
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Gross Profit 3,482.34
Expense
801 - Marketing & Promotion 211.78
831 - Repairs Equipment 430.94
731 - Licenses & Permit Fees 316.20
303 - Office & Administration 2,189.53
343 - Accounting 0.00
348 - Legal Fees 1,000.00
639 - Amortizaton Expense 500.00
641 - Depreciation Expense 91.00
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Total Expense 4,719.45
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Net ordinary Income (1,297.11)
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Net Income (1,297.11)
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<PAGE>
2. Management Discussion and Analysis of Financial Condition and Results
of Operations
Registrant has insignificant operations or substantial assets and intends to
seek out and obtain candidates with which it can merge or whose operations or
assets can be acquired through the issuance of common stock and possibly debt of
a combination thereof.
The Registrant has approximately 60 shareholders.
It is the present expectation of the Management of Registrant that in connection
with any such merger or acquisition of operations or assets that the Management
of Registrant will be transferred to the new controlling shareholders. The
Management of Registrant intends to negotiate covenants with any such company or
controlling shareholders that it/they will maintain Registrant's registration
with the Securities and Exchange Commission, comply with the terms of its
Articles of Incorporation and Bylaws in all respects, maintain and promote an
orderly market in Registrant's Common Stock and otherwise treat Registrant's
shareholders fairly.
Liquidity and Capital Resources
Registrant is a development-stage company and has conducted limited business
operations. The Company's cash resources and liquidity are extremely limited.
The Company has no assets to use as collateral to allow the Company to borrow,
and there is no available external funding source other than loans from
shareholder which has agreed to provide up to $10,000 for expenses connected
with the attempt to find a business combination partner. If no combination
partner is found in 24 months, Registrant will experience severe cash flow
difficulties. Registrant's principal needs for capital are for Securities and
Exchange Commission reporting requirements, bookkeeping, and professional fees.
6. Exhibits and Reports on Form 8K
(a) Exhibit 27 - Financial Data Schedule
(b) The Company Filed No Reports on Form 8K During the Period.
In accordance with the requirements of the Exchange Act, the Registrant has
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
VIVA Golf Manufacturing Inc.
March 9, 1999
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Date Ralph T. Woolbright
Director/CFO
