|
|
|
|
|
|
|
|
|
|
|
|
|
|
Previous: WASTE CONNECTIONS INC/DE, 8-K, EX-1.1, 2000-08-16 |
Next: RAVEN MOON INTERNATIONAL INC, 10QSB, EX-27, 2000-08-16 |
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-QSB
Quarterly Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report For the Quarterly Period Ended March 31, 1999
RAVEN MOON INTERNATIONAL, INC.
----------------------------------------------------
(Exact name of registrant as specified in its charter)
Florida 000-24727 99-3485779
------- --------- ----------
(State or other jurisdiciton Commission IRS Employer
of incorporation) File Number Identification No.)
120 International Parkway, Suite 220, Heathrow, FL 32746
--------------------------------------------------------
(Address of principal executive offices)
Registrant's telephone number, including area code (407) 304-4764
--------------------------------------------------------------------------------
(Former name or former address, if changed since last report.
RAVEN MOON INTERNATIONAL, INC.
QUARTERLY FINANCIAL STATEMENTS
MARCH 31, 1999
RICHARD L. BROWN & COMPANY, P.A.
CERTIFIED PUBLIC ACCOUNTANTS
<PAGE>
RAVEN MOON INTERNATIONAL, INC.
TABLE OF CONTENTS
--------------------------------------------------------------------------------
Quarterly Statements - March 31, 1999
Page
----
Balance Sheets 2
Statements of Operations and Accumulated Deficit 3
Statements of Stockholders' Equity 4
Statements of Cash Flows 5
Notes to Financial Statements 6
<PAGE>
<TABLE>
<CAPTION>
RAVEN MOON INTERNATIONAL, INC.
Balance Sheets
ASSETS
March 31, December 31,
1999 1998
----------- ------------
<S> <C> <C>
CURRENT ASSETS:
Cash and cash equivalents $ 1,694 $ 5,669
Receivable from affiliated companies 39,508 --
Advances 2,800 1,400
----------- -----------
Total current assets 44,002 7,069
OFFICE EQUIPMENT, net of $1,322 and $1,029
of accumulated depreciation 3,826 4,119
MASTER PRODUCTION COSTS 50,754 50,754
ROYALTY RIGHTS 50,000 50,000
PRODUCTION RIGHTS 3,000 3,000
ORGANIZATION COSTS, net of $3,323 and
$2,346 of accumulated amortization 16,215 17,192
DEPOSITS 2,546 2,546
----------- -----------
$ 170,343 $ 134,680
=========== ===========
LIABILITIES
CURRENT LIABILITIES:
Accrued liabilities $ 4,024 $ 3,508
Note payable - Officer 28,700 28,700
Payable to affiliated company 268,491 214,588
----------- -----------
Total current liabilities 301,215 246,796
----------- -----------
COMMITMENTS AND CONTINGENCIES (see note 9)
STOCKHOLDERS' EQUITY
Common stock, $.0001 par value,
authorized 10,000,000 shares;
issued and outstanding 864,291
in 1999 and 754,787 in 1998 86 75
Additional paid-in capital 1,603,459 1,538,061
Accumulated deficit (1,734,417) (1,650,252)
----------- -----------
Total stockholders' equity (130,872) (112,116)
----------- -----------
$ 170,343 $ 134,680
=========== ===========
See notes to Financial Statements.
2
<PAGE>
RAVEN MOON INTERNATIONAL, INC.
STATEMENTS OF OPERATIONS AND ACCUMULATED DEFICIT
For the three months ended March 31, 1999 and 1998
Three Months ended
March 31, March 31,
1999 1998
----------- -----------
REVENUES:
Sales $ 2,176 $ 86,225
COSTS AND EXPENSES:
Cost of revenues 25,174 260,858
Depreciation 402 227
Selling expense 293 --
General and administative expense 60,472 52,778
----------- -----------
Total costs and expenses 86,341 313,863
Net loss before discontinued operations (84,165) (227,638)
Loss from discontinued operations -- 320,752
----------- -----------
Net loss (84,165) (548,390)
Accumulated deficit, prior year (1,650,252) (342,532)
----------- -----------
Accumulated deficit, current year $(1,734,417) $ (890,922)
=========== ===========
Net loss per share $ (0.11) $ (1.93)
=========== ===========
See notes to Financial Statements.
3
<PAGE>
RAVEN MOON INTERNATIONAL, INC.
STATEMENTS OF STOCKHOLDERS' EQUITY
For the three months ended March 31, 1999
Common Stock Additional
---------------------------- paid-in Accumulated
Shares Amount capital deficit Total
------ ------ ------- ------- -----
Balance December 31, 1998 754,787 $ 75 $ 1,538,061 $(1,650,252) $ (112,116)
Shares issued for cash 56,093 6 65,350 65,356
Shares issued for expenses 53,411 5 48 53
Net loss for the period (84,165) (84,165)
----------- ----------- ----------- ----------- -----------
Balance March 31, 1999 864,291 $ 86 $ 1,603,459 $(1,734,417) $ (130,872)
=========== =========== =========== =========== ===========
See notes to Financial Statements.
4
<PAGE>
RAVEN MOON INTERNATIONAL, INC.
STATEMENTS OF CASH FLOWS
For the three months ended March 31, 1999 and 1998
Three months ended
March 31, March 31,
1999 1998
--------- ---------
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss $ (84,165) $(548,390)
Adjustments to reconcile net loss to net cash used
by operating activities:
Decrease in receivables 1,400 --
(Increase) in Advances (2,800) --
(Increase) decrease in receivables from affiliated company (39,508) 23,500
Depreciation and amortization 1,270 477
Increase in organization costs -- (5,000)
(Increase) decrease in accrued expenses 516 (21,438)
Increase in payable to affiliated company 53,903 22,778
Shares issued for expenses 53 --
--------- ---------
Net cash used by operations (69,331) (528,073)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of equipment -- --
Deposit on leased premises -- --
--------- ---------
Net cash provided (used) by investing activities -- --
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from sale of common stock 65,356 616,964
--------- ---------
Net cash provided by financing activities 65,356 616,964
Net (decrease) increase in cash (3,975) 88,891
Cash at beginning of period 5,669 5,524
--------- ---------
Cash at end of period $ 1,694 $ 94,415
========= =========
See notes to Financial Statements.
5
</TABLE>
<PAGE>
RAVEN MOON INTERNATIONAL, INC.
NOTES TO FINANCIAL STATEMENTS
March 31, 1999 and 1998
Note 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
NET LOSS PER SHARE - Primary loss per share computations are based on the
weighted average number of shares outstanding during the period. The weighted
average number of shares outstanding was 797,240 and 284,127 for the three month
periods ended March 31, 1999 and 1998, respectively. There were no outstanding
common stock equivalents during the fiscal period.
6
<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.
RAVEN MOON INTERNATIONAL, INC.
Dated: August 9, 2000 By: /s/ Joey DiFrancesco
---------------------------
Joey DiFrancesco
President
7
|
|