SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report: July 23, 1998
BOULDER CAPITAL OPPORTUNITIES III, INC.
(Exact name of registrant as specified in its charter)
COLORADO 0-22273 84-1383888
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
NEW ADDRESS:
15662 COMMERCE LANE, HUNTINGTON BEACH, CA 92649
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:(714) 895-0944
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Item 1. CHANGES IN CONTROL OF REGISTRANT
None.
Item 2. ACQUISITION OR DISPOSITION OF ASSETS
None.
Item 3. BANKRUPTCY OR RECEIVERSHIP
None.
Item 4. CHANGES IN REGISTRANTS CERTIFYING ACCOUNTANT
None.
Item 5. OTHER EVENTS
None.
Item 6. RESIGNATION OF DIRECTORS AND APPOINTMENT OF NEW DIRECTORS
None.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL STATEMENTS & EXHIBITS
a. Financial Statements - Pro Forma Combined Financial Statements of
Boulder Capital Opportunities III, Inc. as of December 31, 1997 (when combined
with Sonic Jet Performance, LLC Financial Statements as of December 31, 1997).
b. Exhibits - None.
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.
Date: July 23, 1998 Boulder Capital Opportunities III, Inc.
By:/s/Alex Mardikian
Vice-President
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BOULDER CAPITAL OPPORTUNITIES III, INC.
(A Development Stage Company)
PRO FORMA BALANCE SHEET AS OF DECEMBER 31, 1997
ASSETS
Current Assets
Cash $ 663,940
Accounts Receivable 172,639
Inventories 1,789,866
Related Party Receivable 37,766
---------------
Total Current Assets $ 2,664,211
Property, Plant & Equipment
Property, Plant & Equipment, net 2,685,233
Other Assets
Investment in joint venture $ 840,130
Organization costs, net 1,390
Deposits 1,200
--------------
Total Other Assets 842,720
---------------
TOTAL ASSETS $ 6,192,164
=================
LIABILITIES AND STOCKHOLDER'S EQUITY
Current Liabilities
Accounts Payable $ 120,555
Accrued Interest Payable 27,667
Other Payables 91,074
---------------
Total Current Liabilities $ 239,296
Long Term Liabilities
Related Party Payable 600,000
---------------
TOTAL LIABILITIES $ 839,296
Stockholder's Equity Preferred stock,
no par value 10,000,000 shares authorized,
none issued and outstanding
Common stock, no par value
100,000,000 shares authorized,
6,010,000 issued and outstanding 5,775,259
Accumulated (Deficit) (422,391)
---------------
TOTAL STOCKHOLDER'S EQUITY 5,352,868
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 6,192,164
==================
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BOULDER CAPITAL OPPORTUNITIES III, INC.
(A Development Stage Company)
PRO FORMA INCOME STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 1997
Revenue
Sales $ 238,083
Cost of Sales 88,166
---------------
Gross Profit on Sales 149,917
Expenses
Rent $ 31,815
General & Administrative 182,987
Research & Development 175,980
Depreciation 95,587
---------------
Total Expenses 486,369
Other Income and (Expenses)
Interest Income $ 9,036
Interest Expense (36,946)
Loss from joint venture (52,702)
Income Taxes (800)
--------------
Total Other Income and (Expenses) (81,412)
--------------
NET INCOME (LOSS) $ (417,864)
==================
Per Share (0.07)
Weighted Average Shares Outstanding 6,010,000
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BOULDER CAPITAL OPPORTUNITIES III, INC.
(A Development Stage Company)
Pro Forma Statement of Cash Flow
For the Year Ended December 31, 1997
Cash flows from operating activities:
Net Loss $ (417,864)
Adjustments to reconcile net loss to net cash
provided by operating activities
Depreciation and amortization 95,587
Changes in assets and liabilities
Increase in accounts receivable (172,639)
Increase in inventory (309,557)
Increase in related party receivable (28,666)
Increase in other assets (1,200)
Increase in accounts payable 39,194
Increase in accrued interest 15,439
Increase in other payables 44,080
--------------
Net Cash used in operating activities (735,626)
Cash flows used in investing activities:
Purchase of property, plant and equipment (16,071)
Investment in joint venture (137,425)
----------------
Net cash used in investing activities (153,496)
Cash flows from financing activities:
Proceeds from related party debt 600,000
Payment of related party payables (550,691)
Investment by stockholders 1,500,000
-----------------
Net cash provided by financing activities 1,549,309
Net increase in cash 660,187
Cash at beginning of year 3,753
Cash at end of year $ 663,940
===============
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BOULDER CAPITAL OPPORTUNITIES III, INC.
(A Development Stage Company)
PRO FORMA STATEMENT OF CHANGES IN STOCKHOLDER'S EQUITY
For the Period from November 27,
1996 (date of inception)
through December 31, 1997
<TABLE>
<CAPTION>
Preferred Stock Common Stock Accumulated
No./shares Amount No./shares Amount (Deficit) Total
-----------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Balance at
November 27, 1996 -- -- -- -- -- --
Common stock issued
for services, at
inception, at $.0025
per share -- -- 710,000 1,775 -- 1,775
Common stock issued
for cash at $.0025
per share -- -- 100,000 250 -- 250
Common stock issued
for cash at $.04 per
share -- -- 200,000 8,000 -- 8,000
Net loss for the period
ended December 31, 1996 -- -- -- -- (4,527) (4,527)
------------------------------------------------------------
Balance at December 31,
1996 -- -- 1,010,000 10,025 (4,527) 5,498
Common stock issued for
acquisition of Sonic Jet
Performance LLC -- -- 5,000,000 5,765,234 (412,777) 5,352,457
Net loss - year ended
December 31, 1997 -- -- -- -- (417,864) (417,864)
------------------------------------------------------------
Balance at December 31,
1997 -- -- 6,010,000 5,775,259 (835,168) 4,940,091
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</TABLE>
