U. S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10QSB
(Mark One)
[X] Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934
For the quarterly period ended March 31, 2000
--------------
[ ] Transition report pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934
For the transition period from to
----------------------- ----------------------
Commission File Number 00022783
-------------------
Osteo Systems, Inc.
--------------------------------------------------------------------------------
(Exact Name of Small Business Issuer as Specified in its Charter)
Colorado 841385900
--------------- -------------
(State or Other Jurisdiction of (I.R.S. Employer Identification No.)
Incorporation or Organization)
2449 Lyric Avenue, Los Angeles, CA 90027
--------------------------------------------------------------------------------
(Address of Principal Executive Offices)
(323) 6608665
--------------------------------------------------------------------------------
(Issuer's Telephone Number, Including Area Code)
================================================================================
(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 No X
------ ------
State the number of shares of each of the issuer's classes of common equity, as
of the latest practicable date: July 12, 2000, Common Stock, $.001 par value,
----------------------------------------------
6,150,000 shares
----------------
Transitional Small Business Disclosure Format (check one): Yes No X
------- -------
<PAGE>
PART 1 FINANCIAL INFORMATION
Item 1. Financial Statements.
OSTEO SYSTEMS, INC.
(A Development Stage Company)
Balance Sheet
As of March 31, 2000
ASSETS
------
Other Assets:
Organization Costs, less Accumulated Amortization of $306 $ 194
--------
Total Assets $ 194
========
LIABILITIES AND STOCKHOLDERS' EQUITY
Stockholder's Equity:
Preferred Stock, par value $.01, 10,000,000 shares authorized,
none issued and outstanding --
Common Stock, par value $.001, 100,000,000 shares authorized,
6,150,000 issued and outstanding $ 6 ,150
Additional paidin capital 17,145
Deficit accumulated during development stage (23,101)
--------
Total Stockholders' Equity $ 194
--------
Total Liabilities and Stockholders' Equity $ 194
========
<PAGE>
OSTEO SYSTEMS, INC.
(A Development Stage Company)
Statements of Operations
For the Three Months Ended March 31, 2000 and 1999
Three Months Ended
------------------
March 31, 2000 March 31, 1999
-------------- --------------
REVENUE $ -- $ --
COSTS AND EXPENSES:
Amortization 25 25
----------- -----------
Loss Before Income Taxes (25) (25)
Income Tax Benefit -- --
----------- -----------
Net Loss $ (25) $ (25)
=========== ===========
Earnings (loss) per share:
Net loss $ -- $ --
=========== ===========
Weighted Average Number of Common
and Common Equivalent Shares
Outstanding 6,150,000 6,150,000
=========== ===========
<PAGE>
OSTEO SYSTEMS, INC.
(A Development Stage Company)
Statements of Cash Flows
For the Three Months Ended March 31, 2000 and 1999
Three Months Ended
------------------
March 31, 2000 March 31, 1999
-------------- --------------
Reconciliation of Net Loss to Net Cash
Flows from Operating Activities:
Net Loss $(25) $(25)
Amortization 25 25
---- ----
Net Cash Flows From Operating Activities -- --
Investing Activities -- --
Financing Activities -- --
---- ----
Increase (Decrease) in Cash -- --
Cash, beginning of period -- --
---- ----
Cash, end of period $ $
==== ====
<PAGE>
OSTEO SYSTEMS, INC.
(A Development Stage Company)
Notes to Financial Statements
March 31, 2000
Osteo Systems, Inc. (the "Company") was incorporated under the laws of the
State of Colorado on March 6, 1997. The Company has generally been inactive and
has conducted no business operations since its inception except for
organizational and fund raising activities. The Company's previous plans were
unsuccessful and the Company is presently seeking a merger partner.
The information included in these financial statements includes all
adjustments, consisting 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 fiscal year ended
December 31, 1999 included in the Company's Form 10KSB filed April 11, 2000.
<PAGE>
Item 2. Management's Discussion and Analysis or Plan of Operation.
--------------------------------------------------------------------------------
a. Plan of Operation. The Company has generally been inactive and has
conducted no business operations since its inception except for
organizational and fund raising activities. The Company's previous
plans were unsuccessful and the Company is presently seeking a merger
partner.
The Company's auditor has noted in her opinion that there is
substantial doubt about the Company's ability to continue as a going
concern (see financial statements attached to the Company's Form 10KSB
for the fiscal year ended December 31, 1999). Management believes that
in order to continue in business it will be required to find a merger
partner or raise additional capital. No potential capital resources
exist at this time. The Company's directors and executive officers
have been personally absorbing the cost of maintaining the Company's
corporate existence, but there can be no assurance they will continue
to do so. Management currently intends to find a merger partner, but
there can be no assurance this will occur.
<PAGE>
PART II - OTHER INFORMATION
Item 1. Legal Proceedings. Not applicable.
Item 2. Changes in Securities and Use of Proceeds. Not applicable.
Item 3. Defaults upon Senior Securities. Not applicable.
Item 4. Submission of Matters to a Vote of Security Holders. Not Applicable.
Item 5. Other Information. Not applicable.
Item 6. Exhibits and Reports on Form 8K.
(a) Exhibit Index.
--------------------------------------------------------------------------------
Item
Number Description
3.1 Articles of Incorporation of Blue Mountain Capital, Inc., filed March 6,
1997.1
3.2 Articles of Amendment to the Articles of Incorporation of Blue Mountain
Capital, Inc., filed June 20, 1997. 2
3.3 Articles of Amendment to the Articles of Incorporation of Blue Mountain
Capital, Inc., filed June 17, 1998.3
3.4 Bylaws of Blue Mountain Capital, Inc. 4
-------------------
1 Previously filed as Exhibit 2.1 to the registration statement on Form
10SB12G filed July 1, 1997.
2 Previously filed as Exhibit 2.2 to the registration statement on Form
10SB12G filed July 1, 1997.
3 Previously filed as Exhibit 3.3 to the annual report on Form 10KSB for the
fiscal year ended December 31, 1999 filed April 11, 2000.
4 Previously filed as Exhibit 2.3 to the registration statement on Form
10SB12G filed July 1, 1997.
(b) Reports on Form 8K. Not applicable.
<PAGE>
SIGNATURES
In accordance with Section 13 or 15(d) of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
OSTEO SYSTEMS, INC.
------------------------------
(Registrant)
Date: July 12, 2000 /s/ Roland W. Fink
-----------------------------
Roland W. Fink, President
