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Previous: THATLOOK COM INC/NV, PRE 14C, 2000-05-24 |
Next: RAVEN MOON INTERNATIONAL INC, 10QSB, 2000-05-24 |
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
For the Quarterly Period Ended June 30, 1999
RAVEN MOON INTERNATIONAL, INC.
----------------------------------------------------
(Exact name of registrant as specified in its charter)
Florida 000-24727 59-3485779
- ------------------------- ----------------- ------------------
(State or other juris- (Commission File (IRS Employer
diction of incorporation) 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.)
<PAGE>
Item 1. Financial Statements
RAVEN MOON INTERNATIONAL, INC.
(Formerly Ybor City Shuttle Services, Inc.)
Balance Sheets
ASSETS
June 30, December 31,
1999 1998
----------- ------------
CURRENT ASSETS:
Cash and cash equivalents $ -- $ 5,669
Accounts receivable 2,800 1,400
Receivable from affiliated companies 65,306 --
-----------
Total current assets 68,106 7,069
OFFICE EQUIPMENT, net of $1,218 and
$1,029 of accumulated
depreciation 3,745 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 $4,300 and
$2,346 of accumulated
amortization 15,238 17,192
DEPOSITS 2,546 2,546
----------- -----------
$ 193,389 $ 134,680
=========== ===========
LIABILITIES
CURRENT LIABILITIES:
Accounts payable $ 8,290 $ --
Accrued liabilities 3,010 3,508
Note payable - Officer 28,700 28,700
Note payable 186,193 186,193
Payable to affiliated company 102,606 28,395
----------- -----------
Total current liabilities 328,799 246,796
----------- -----------
COMMITMENTS AND CONTINGENCIES (see note 8)
STOCKHOLDERS' EQUITY
Common stock, $.0001 par value
(authorized 10,000,000 shares;
issued and outstanding 2,112,189 in
1999 and 754,787 in 1998 211 75
Additional paid-in capital 1,668,081 1,538,061
Accumulated deficit (1,803,702) (1,650,252)
----------- -----------
Total stockholders' equity (135,410) (112,116)
----------- -----------
$ 193,389 $ 134,680
=========== ===========
See notes to Financial Statements.
2
<PAGE>
RAVEN MOON INTERNATIONAL, INC.
(Formerly Ybor City Shuttle Services, Inc.)
STATEMENTS OF OPERATIONS AND ACCUMULATED DEFICIT
For the six months and the three months ended June 30, 1999
Six Months Three Months
ended ended
June 30, 1999 June 30, 1999
------------- -------------
REVENUES:
Sales $ 17,181 $ 15,005
----------- -----------
Total revenues 17,181 15,005
----------- -----------
COSTS AND EXPENSES:
Cost of revenues 58,576 33,402
Depreciation 586 293
Selling expense 2,110 1,708
General and administative expense 109,359 48,886
----------- -----------
Total costs and expenses 170,631 84,289
Net loss (153,450) (69,284)
Accumulated deficit, prior period (1,650,252) (1,734,418)
----------- -----------
Accumulated deficit, current year $(1,803,702) $(1,803,702)
=========== ===========
Net loss per share $ (0.15) $ (0.06)
=========== ===========
See notes to Financial Statements.
3
<PAGE>
<TABLE>
<CAPTION>
RAVEN MOON INTERNATIONAL, INC.
(Formerly Ybor City Shuttle Services, Inc.)
STATEMENTS OF STOCKHOLDERS' EQUITY
For the six months ended June 30, 1999
Common Stock Additional
----------------------- paid-in Accumulated
Shares Amount capital deficit Total
------ ------ ------- ------- -----
<S> <C> <C> <C> <C> <C>
Balance December 31, 1998 754,787 $ 75 $ 1,538,061 $(1,650,252) $ (112,116)
Shares issued for cash 94,526 10 128,884 128,894
Shares issued for expenses 1,262,876 126 1,136 1,262
Net loss for the period (153,450) (153,450)
----------- ----------- ----------- ----------- -----------
Balance June 30, 1999 2,112,189 $ 211 $ 1,668,081 $(1,803,702) $ (135,410)
=========== =========== =========== =========== ===========
See notes to Financial Statements.
4
<PAGE>
RAVEN MOON INTERNATIONAL, INC.
(Formerly Ybor City Shuttle Services, Inc.)
STATEMENTS OF CASH FLOWS
For the six months and the three months ended June 30, 1999
Six Months Three Months
ended ended
June 30, 1999 June 30, 1999
------------- -------------
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss $(153,450) $ (69,284)
Adjustments to reconcile net loss to net cash used
by operating activities:
(Increase) in receivables (1,400) --
(Increase) in receivables from affiliated company (65,306) (25,798)
Depreciation and amortization 2,540 1,270
Increase in accounts payable 8,290 8,290
(Decrease) in accrued expenses (498) (1,014)
Increase in payable to affiliated company 74,211 20,307
Shares issued for expenses 1,896 1,446
--------- ---------
Net cash used by operations (133,717) (64,783)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of equipment (212) (212)
Deposit on leased premises -- --
--------- ---------
Net cash used by investing activities (212) (212)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from sale of common stock 128,260 63,301
Notes payable - officers -- --
Notes payable -- --
--------- ---------
Net cash provided by financing activities 128,260 63,301
Net increase in cash (5,669) (1,694)
Cash at beginning of period 5,669 1,694
--------- ---------
Cash at end of period $ -- $ --
========= =========
See notes to Financial Statements.
5
</TABLE>
<PAGE>
RAVEN MOON INTERNATIONL,
INC (Formerly Ybor City Shuttle Services, Inc.)
NOTES TO FINANCIAL STATEMENTS
June 30, 1999 and December 31, 1998
Notes 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 1,023,627 and 1,247,526 for the six
months and the three months ended June 30, 1999, respectively. There were no
outstanding common stock equivalents during the fiscal period.
<PAGE>
Item 2. Acquisition or Disposition of Assets.
The Company amended its Articles of Incorporation on June 17, 1999 to
decrease the capitalization from One Hundred Million (100,000,000) shares of
Common Stock to Ten Million (10,000,000) shares of Common Stock having a par
value of $0.0001 per share. The authorized Preferred Stock was reduced to Five
Million (5,000,000) shares having a value of $0.0001 per share. The common
shares issued and outstanding were reverse split by the same proportion (one
share for ten shares).
The Company determined that its proposed transportation operation for
Tampa, Florida and its hearing aid division should be terminated. The Company
elected to limit its business to the entertainment field and more specifically
to music and television production.
<PAGE>
Item 7. Financial Statements and Exhibits.
(a) Financial Statements:
Consolidated Balance Sheet as of June 30, 1999
Consolidated Income Statement as of June 30, 1999
Consolidated Statement of Retained Earning as of June 30, 1999
Consolidated Statement of Cash Flows as of June 30, 1999
Notes to Consolidated Financial Statements
(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 hereunto duly authorized.
RAVEN MOON INTERNATIONAL, INC.
Date: May 14, 2000 By: /s/ Joey DiFrancesco
------------------------------------
Joey DiFrancesco, President
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1999
<CASH> 0
<SECURITIES> 0
<RECEIVABLES> 68,106
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 68,106
<PP&E> 4,963
<DEPRECIATION> 1,218
<TOTAL-ASSETS> 193,389
<CURRENT-LIABILITIES> 328,799
<BONDS> 0
0
0
<COMMON> 211
<OTHER-SE> (135,621)
<TOTAL-LIABILITY-AND-EQUITY> 0
<SALES> 17,181
<TOTAL-REVENUES> 17,181
<CGS> 58,576
<TOTAL-COSTS> 170,631
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> (153,450)
<INCOME-TAX> 0
<INCOME-CONTINUING> (153,450)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (153,450)
<EPS-BASIC> (.15)
<EPS-DILUTED> (.15)
</TABLE>
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