<PAGE>
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 March 31, 1998
[ ] 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. 0-23905
COOKIE CUP INTERNATIONAL
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(Name of Small Business Issuer in its Charter)
NEVADA 87-0447497
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(State or Other Jurisdiction of (I.R.S. Employer I.D. No.)
incorporation or organization)
3255 South 8820 West
Magna, Utah 84044
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(Address of Principal Executive Offices)
Issuer's Telephone Number: (801) 250-3433
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 No X
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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:
May 15, 1998
50,000,000
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PART I - FINANCIAL INFORMATION
Item 1. Financial Statements.
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, together with Related Notes. In the opinion of management,
the Financial Statements fairly present the financial condition of the
Registrant.
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COOKIE CUP INTERNATIONAL
(A Development Stage Company)
FINANCIAL STATEMENTS
March 31, 1998 and June 30, 1997
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<TABLE>
COOKIE CUP INTERNATIONAL
(A Development Stage Company)
Balance Sheets
<CAPTION>
ASSETS
March 31, June 30,
1998 1997
(Unaudited)
<S> <C> <C>
CURRENT ASSETS
Cash $ - $ -
Total Current Assets - -
TOTAL ASSETS $ - $ -
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable $ 2,000 $ 2,000
Total Current Liabilities 2,000 2,000
STOCKHOLDERS' EQUITY
Common stock; 50,000,000 shares
authorized of $0.001 par value,
50,000,000 shares issued
and outstanding 50,000 50,000
Additional paid-in capital 255,500 254,750
Deficit accumulated during the
development stage (307,500) (306,750)
Total Stockholders' Equity (2,000) (2,000)
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY $ - $ -
</TABLE>
<TABLE>
COOKIE CUP INTERNATIONAL
(A Development Stage Company)
Statements of Operations
(Unaudited)
<CAPTION>
From
Inception on
For the For the April 15,
Nine Months Ended Three Months Ended 1977 Through
March 31, March 31, March 31,
1998 1997 1998 1997 1998
<S> <C> <C> <C> <C> <C>
REVENUES $ - $ - $ - $ - $ -
EXPENSES 750 - - - 307,500
NET LOSS $ (750) $ - $ - $ - $(307,500)
NET LOSS PER SHARE $ (0.00) $ (0.00) $ (0.00) $ (0.00)
</TABLE>
<TABLE>
COOKIE CUP INTERNATIONAL
(A Development Stage Company)
Statements of Stockholders' Equity
<CAPTION>
Deficit
Accumulated
Additional During the
Common Stock Paid-in Development
Shares Amount Capital Stage
<S> <C> <C> <C> <C>
Balance, April 15, 1977 - $ - $ - $ -
Common stock issued at an
average of $0.01 per share 50,000,000 50,000 253,500 -
Additional capital contributed - - 500 -
Net loss from the year ended
June 30, 1996 - - - (304,000)
Balance, June 30, 1995 50,000,000 50,000 254,000 (304,000)
Net loss for the year ended
June 30, 1996 - - - -
Balance, June 30, 1996 50,000,000 50,000 254,000 (304,000)
Additional capital contributed - - 750 -
Net loss for the year ended
June 30, 1997 - - - (2,750)
Balance, June 30, 1997 50,000,000 50,000 254,750 (306,750)
Additional capital contributed - - 750 -
Net loss for the nine months
ended March 31, 1998 - - - (750)
Balance, March 31, 1998 50,000,000 $ 50,000 $ 255,500 $(307,500)
</TABLE>
<TABLE>
COOKIE CUP INTERNATIONAL
(A Development Stage Company)
Statements of Cash Flows
(Unaudited)
<CAPTION>
From
Inception on
For the For the April 15,
Nine Months Ended Three Months Ended 1977 Through
March 31, March 31, March 31,
1998 1997 1998 1997 1998
<S> <C> <C> <C> <C> <C>
CASH FLOWS FROM
OPERATING ACTIVITIES
Net loss $(750) $ - $ - $ - $(307,500)
Increase in accounts
payable - - - - 2,000
Net Cash Provided
(Used)by Operating
Activities (750) - - - (305,500)
CASH FLOWS FROM
INVESTING ACTIVITIES - - - - -
CASH FLOWS FROM
FINANCING ACTIVITIES
Common stock issued
for cash - - - - 303,500
Additional capital
contributed 750 - - - 2,000
Net Cash Provided
(Used) by
Financing
Activities 750 - - - -
NET INCREASE
(DECREASE) IN CASH
AND CASH EQUIVALENTS - - - - -
CASH AND CASH
EQUIVALENTS AT
BEGINNING OF PERIOD - - - - -
CASH AND CASH
EQUIVALENTS AT END
OF PERIOD $ - $ - $ - $ - $ -
CASH PAID FOR
Interest $ - $ - $ - $ - $ -
Taxes $ - $ - $ - $ - $ -
</TABLE>
COOKIE CUP INTERNATIONAL
(A Development Stage Company)
Notes to the Financial Statements
March 31, 1998 and June 30, 1997
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
This summary of significant accounting policies of Cookie Cup International
is presented to assist in understanding the Company's financial statements.
The financial statements and notes are representations of the Company's
management, which is responsible for their integrity and objectivity. These
accounting policies conform to generally accepted accounting principles and
have been consistently applied in the preparation of the financial statements.
a. Organization
The financial statements presented are those of Cookie Cup International (the
Company). The Company was originally incorporated under the laws of he State
of Utah on April 15, 1977. Subsequently, the Corporation was
"re-incorporated" under the laws of the State of Nevada on May 11, 1987.
The Company is an outgrowth of a merger between Sierra Development, (a Utah
corporation that became public via an offering in October 1977) and Cookie Cup
International, (a Nevada corporation) that merged in 1987. Sierra Development
was organized as a "blind pool" corporation. Cookie Cup International was
organized to engage in the retail and wholesale business of ice cream and
frozen dessert novelties. The intended business of the corporation was not
successful and the corporation has been dormant and operationally inactive for
many years. The Company has been seeking new business opportunities believed
to hold a potential profit or to merge with an existing, operating company.
b. Fiscal Year
The Company has elected a June 30 year end.
c. Basis of Operation
The Company prepares its financial statements and federal income taxes on the
accrual basis of accounting.
d. Unaudited Financial Statements
The accompanying unaudited financial statements include all of the adjustments
which, in the opinion of management, are necessary for a fair presentation.
Such adjustments are of a normal, recurring nature.
e. Estimates
The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial statements and
the reported amounts of revenues and expenses during the reporting period.
Actual results could differ from those estimates.
f. Income Taxes
No provision for income taxes has been accrued because the Company has net
operating losses from inception. No tax benefit has been reported in the
financial statements because the Company is uncertain if the carryforwards
will expire unused. Accordingly, the potential tax benefits are offset by a
valuation account of the same amount.
NOTE 2 - OPTIONS AND WARRANTS
There are no options or warrants outstanding against the common stock of
the Company.
NOTE 3 - DIVIDEND POLICY
The Company has not yet adopted a policy regarding dividends.
<PAGE>
Item 2. Management's Discussion and Analysis or Plan of Operation.
- --------------------------------------------------------------------
Plan of Operation.
- ------------------
The Company has not engaged in any material operations since the
calendar year ended December 31, 1991, or during the quarterly period ended
March 31, 1998. During this period, the Company received revenues of $0.
During the same period, total expenses were $750 and net income totaled
$(750).
The Company's plan of operation for the next 12 months is to continue
to seek the acquisition of assets, properties or businesses that may benefit
the Company and its stockholders. Management anticipates that to achieve any
such acquisition, the Company will issue shares of its common stock as the
sole consideration for such acquisition.
During the next 12 months, the Company's only foreseeable cash
requirements will relate to maintaining the Company in good standing or the
payment of expenses associated with reviewing or investigating any potential
business venture, which the Company expects to pay from its cash resources.
Results of Operations.
- ----------------------
During the quarterly period ended March 31, 1998, the Company had no
business operations. During this period, the Company received total revenues
of $0 and had net income of $(750).
Liquidity.
- ----------
At March 31, 1998, the Company had no total current assets, with
total current liabilities of $2,000. Total stockholder's equity was $(2,000).
In order to meet its expenses during the next 12 months, management expects
that the Company may be required to sell shares of its common stock to
accredited or sophisticated investors.
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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None; not applicable.
Item 5. Other Information.
- ----------------------------
None; not applicable.
Item 6. Exhibits and Reports on Form 8-K.
- -------------------------------------------
(a) Exhibits.
Financial Data Schedule.
(b) Reports on Form 8-K.
None.
<PAGE>
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.
COOKIE CUP INTERNATIONAL
Date: 5/15/98 By/s/Charles Johnson
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Charles Johnson
Director, President, and Sec/Tres
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<CIK> 0001057653
<NAME> COOKIE CUP INTERNATIONAL
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> JUN-30-1998
<PERIOD-END> MAR-31-1998
<CASH> 0
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 0
<CURRENT-LIABILITIES> 2000
<BONDS> 0
0
0
<COMMON> 50000
<OTHER-SE> (52000)
<TOTAL-LIABILITY-AND-EQUITY> 0
<SALES> 0
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 750
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 0
<INCOME-TAX> 0
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (750)
<EPS-PRIMARY> (0.00)
<EPS-DILUTED> (0.00)
</TABLE>
