U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 10-QSB
(Mark One)
[ X ] Quarterly report under Section 13 or 15 (d) of the Securities Exchange Act
of 1934
For the quarterly period ended September 30, 1997
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Transition report under Section 13 or 15(d) of the Exchange Act
For the transition period from ___________ to ____________
Commission file number 000 - 22783
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Jewelnique Designs, Inc.
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(Exact Name of Small Business Issuer as Specified in Its Charter)
Colorado 84-1385900
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(State or Other Jurisdiction of (I.R.S. Employer Identification No.)
Incorporation or Organization)
2449 Lyric Avenue, Los Angeles, CA 90027
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(Address of Principal Executive Offices)
(213) 660-8665
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(Issuer's Telephone Number, Including Area Code)
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(Former Name, Former Address and Former Fiscal Year,
if Changed Since Last Report)
Check whether the issuer: (1) filed all 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 requirements for the past 90 days.
Yes X No
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State the number of shares outstanding of each of the issuer's classes of
common equity, as of the latest practicable date: November 13, 1997: Common
Stock, 408,000 Shares
Traditional Small Business Disclosure Format (check one):
Yes No X
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JEWELNIQUE DESIGNS, INC.
Form 10-QSB
September 30, 1997
INDEX
PART I -- FINANCIAL INFORMATION
Item 1. Financial Statements
Balance Sheet - September 30, 1997 .............................. 3
Statement of Operations - For the Three Months Ended September
30, 1997 and the period March 6, 1997 (Inception) to
September 30, 1997............................................. 4
Statement of Cash Flows - For the
Period March 6, 1997 (Inception)
to September 30, 1997.......................................... 5
Notes to Financial Staements ................................... 6
Item 2. Management's Discussion and Analysis
or Plan of Operation .......................................... 7
PART II -- OTHER INFORMATION ............................................ 8
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<PAGE>
PART I - FINANCIAL INFORMATION.
Item 1. Financial Statements.
JEWELNIQUE DESIGNS, INC.
(A Development Stage Company)
BALANCE SHEET
As of September 30, 1997
ASSETS
------
Current Assets:
Cash $ 1,338
Other Assets:
Organization costs, less accumulated
amortization of $56 444
--------
Total Assets $ 1,782
========
LIABILITIES AND SHAREHOLDERS' EQUITY
- ------------------------------------
Shareholders' Equity:
Preferred Stock, par value $0.01,
10,000,000 shares authorized, none issued
and outstanding $ --
Common stock, par value $0.001,
100,000,000 shares authorized, 408,000
issued and outstanding 408
Additional paid-in capital 17,887
Accumulated deficit (16,513)
--------
Total Shareholders' Equity 1,782
--------
Total Liabilities and Shareholders' Equity $ 1,782
========
The accompanying notes are an integral part of the financial statements.
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<PAGE>
JEWELNIQUE DESIGNS, INC.
(A Development Stage Company)
STATEMENT OF OPERATIONS
For the Three Months Ended September 30, 1997 and the
period March 6, 1997 (Inception) to September 30, 1997
Three Months March 6, 1997
Ended (Inception)
September 30,1997 to September 30,1997
----------------- --------------------
REVENUES $ -- $ --
COSTS AND EXPENSES:
Amortization 25 56
Legal and professional fees 1,250 15,705
Other 684 829
--------- ---------
1,959 16,590
--------- ---------
Loss from Operations (1,959) (16,590)
Interest Income 41 77
--------- ---------
Loss before Income Taxes (1,918) (16,513)
Income Tax Benefit -- --
--------- ---------
Net Loss $ (1,918) $ (16,513)
========= =========
Loss per Share $ -- $ (0.04)
========= =========
Weighted Average Number of Common
and Common Equivalent Shares
Outstanding 408,000 408,000
========= =========
The accompanying notes are an integral part of the financial statements.
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<PAGE>
JEWELNIQUE DESIGNS, INC.
(A Development Stage Company)
STATEMENT OF CASH FLOWS
For the period March 6, 1997 (Inception) to September 30, 1997
RECONCILIATION OF NET LOSS TO NET CASH
FLOWS USED IN OPERATING ACTIVITIES:
Net loss $(16,513)
Amortization 56
Stock issued for services 2,320
--------
Net Cash Used in Operating Activities (14,137)
--------
INVESTING ACTIVITIES:
Organization Costs (500)
--------
Net Cash Used in Investing Activities (500)
--------
FINANCING ACTIVES:
Proceeds from sale of common stock,
less related expenses of $ 4,025 15,975
------- --------
Net Cash Provided by Financing Activities 15,975
--------
Increase in Cash 1,338
Cash, beginning of period --
--------
Cash, end of period $ 1,338
========
The accompanying are an integral part of the financial statements.
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<PAGE>
JEWELNIQUE DESIGNS, INC
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
June 30,1997
Jewelnique Designs, Inc. ("JDI" or the "Company") was formed March 6, 1997
for the purpose of designing, manufacturing, marketing, and distributing a
specialized line of unique jewelry products. The company is in the development
stage and has had no operations to date.
The information included in these financial statements includes all
adjustments, consisting only of normal recurring adjustments which, in the
opinion of management, are necessary to a fair presentation of the financial
statements for the periods presented. The financial statements should be read in
conjunction with the financial statements and notes thereto for the period from
inception March 6, 1997 to March 31, 1997 included in the Company's Registration
Statement on Form 10-SB filed July 1, 1997.
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<PAGE>
ITEM 2. Management's Discussion and Analysis or Plan of Operation.
Plan of Operation
- -----------------
Since its inception, the Company has conducted no business operations
except for organizational and capital raising activities. For the period from
inception (March 6, 1997) through September 30, 1997, the Company had no income
from operations and operating expenses aggregating $16,590. The Company proposes
to engage in business in the design, manufacture, marketing and wholesale
distribution of a specialized line of jewelry products. Management expects that
the Company's proposed product line will initially be distributed to boutiques,
hair salons, beauty supply stores, department stores, and children's stores.
Management intends to explore all available alternatives for debt and/or equity
financing, including but not limited to private and public securities offerings.
Financial Condition, Capital Resources and Liquidity
- ----------------------------------------------------
At September 30, 1997, the Company had assets totaling $1,782 and no
liabilities. Since the Company's inception, it has received $20,000 in cash
contributed as consideration for the issuance of shares of Common Stock.
The Company has no potential capital resources at this time. The Company
believes that in order to continue in business beyond the next twelve months it
will be required to raise additional capital.
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<PAGE>
PART II - OTHER INFORMATION
Item 1. Legal Proceedings.
The Company knows of no legal proceedings to which it is a party or to
which any of its property is the subject which are pending, threatened or
contemplated or any unsatisfied judgements against the Company.
Item 2. Changes in Securities.
(a) No instruments defining the rights of shareholders of the Company's
Common Stock have been modified.
(b) No rights evidenced by the Company's Common Stock have been limited or
qualified by the issuance or modification of any other class of securities.
Item 3. Defaults Upon Senior Securities.
The Company has no indebtedness as of the date of this report.
Item 4. Submission of Matters to a Vote of Security Holders.
No matter was submitted to a vote of the Company's shareholders, by the
means of the solicitation of proxies or otherwise, during the quarter ended
September 30, 1997, covered by this report.
Item 5. Other Information.
There is no information with respect to which information is not otherwise
called for by this form.
Item 6. Exhibits and Reports on Form 8-K.
(a) Index to Exhibits
There are no exhibits required to be furnished by Item 601 of Regulation
S-B.
-8-
<PAGE>
(b) Reports on Form 8-K
No reports on form 8-K were filed during the quarter ended September 30,
1997, for which this report is filed.
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<PAGE>
SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed in its behalf, thereunto duly authorized.
JEWELNIQUE DESIGNS, INC.
( Registrant)
Date: November 13, 1997 /s/ Roland W. Fink
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Roland W. Fink, President
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