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Previous: NORTH STAR ASSET MANAGEMENT INC, 13F-HR, 2000-09-07 |
Next: RAVEN MOON INTERNATIONAL INC, 10QSB, EX-27, 2000-09-07 |
SECURITIES AND EXCHANGE COMMISSION
Washington , D.C.
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, 2000
RAVEN MOON INTERNATIONAL, INC.
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(Exact name of registrant as specified in its charter)
Florida 000-24727 59-3485779
------------------ ---------------- ---------------
(State of the 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 of former address, if changed since lst report)
<PAGE>
RAVEN MOON INTERNATIONAL, INC.
INDEX
Page(s)
Item 7. Financial Statements and Exhibits
(a) Financial Statements:
Balance Sheet as of June 30, 2000 2
Statement of Operations and Accumulated Deficit 3
Statements of Stockholders' Equity 4
Statement of Cash Flows as of June 30, 2000 5
Notes to Financial Statements 6
(b) Exhibits - None.
Item 2. Acquisition or Disposition of Assets 7
Signature 8
<PAGE>
RAVEN MOON INTERNATIONAL, INC.
Balance Sheets
ASSETS June 30, December 31,
2000 1999
----------- -----------
CURRENT ASSETS:
Cash and cash equivalents $ 9,480 $ 1,158
Advances 3,185 2,800
----------- -----------
Total current assets 12,665 3,958
OFFICE EQUIPMENT, net of 3,269 and
$1,813 of accumulated depreciation 4,208 5,087
MASTER PRODUCTION COSTS 50,754 50,754
ROYALTY RIGHTS 50,000 50,000
PRODUCTION RIGHTS 3,000 3,000
ORGANIZATION COSTS, net of $8,208
and $6,254 of accumulated amortization 11,330 13,284
----------- -----------
$ 131,957 $ 126,083
=========== ===========
LIABILITIES
CURRENT LIABILITIES:
Accrued liabilities $ 298,536 $ 105,700
Debentures payable 29,000 --
Loans payable - private placement 100,000 --
----------- -----------
Total current liabilities 427,536 105,700
=========== ===========
LONG TERM DEBT TO AFFILIATED COMPANIES,
OFFICERS AND STOCKHOLDERS' 464,666 440,917
----------- -----------
COMMITMENTS AND CONTINGENCIES (see note 9)
STOCKHOLDERS' EQUITY
Preferred stock, $.0001 par vallue,
authorized 5,000,000 shares; issued
and outstanding 2,517,816 in 2000
and 208,178 in 1999 252 21
Common stock, $.0001 par value,
authorized 10,000,000 shares;
issued and outstanding 6,754,293
in 2000 and 5,390,123 in 1999 675 539
Additional paid-in capital 2,463,667 1,692,797
Accumulated deficit (3,224,839) (2,113,891)
----------- -----------
Total stockholders' equity (760,245) (420,534)
----------- -----------
$ 131,957 $ 126,083
=========== ===========
See notes to Financial Statements.
2
<PAGE>
RAVEN MOON INTERNATIONAL, INC.
STATEMENTS OF OPERATIONS AND ACCUMULATED DEFICIT
For the six months and the three months ended June 30, 2000
Six Months Three Months
ended ended
June 30, June 30,
2000 2000
----------- -----------
REVENUES:
Sales $ 6,702 $ 352
COSTS AND EXPENSES:
Cost of revenues 787,754 778,144
Depreciation 879 439
Selling expense 2,207 1,495
Interest 30,000 15,000
General and administative expense 296,810 187,663
----------- -----------
Total costs and expenses 1,117,650 982,741
Net loss (1,110,948) (982,389)
Accumulated deficit, prior year (2,113,891) (2,242,450)
----------- -----------
Accumulated deficit, current year $(3,224,839) $(3,224,839)
=========== ===========
Net loss per share $ (0.19) $ (0.16)
=========== ===========
See notes to Financial Statements.
3
<PAGE>
<TABLE>
<CAPTION>
RAVEN MOON INTERNATIONAL, INC.
STATEMENTS OF STOCKHOLDERS' EQUITY
For the three months ended March 31, 2000
Preferred Stock Common Stock Additional
--------------- --------------- paid-in Accumulated
Shares Amount Shares Amount capital deficit Total
-------- -------- -------- -------- -------- -------- --------
<S> <C> <C> <C> <C> <C> <C> <C>
Balance December 31, 1999 208,178 $ 21 5,390,123 $ 539 $ 1,692,797 $ (2,113,891) $ (420,534)
Preferred shares issued 2,309,638 231 -- -- (231) -- --
Shares issued for cash -- -- 24,000 2 488 -- 490
Shares issued for expenses -- -- 2,020,900 202 770,545 -- 770,747
Cancelled shares -- -- (680,730) (68) 68 -- --
Net loss for the period -- -- -- -- -- (1,110,948) (1,110,948)
--------- ----- --------- --------- ----------- ------------ ----------
Balance June 30, 2000 2,517,816 $ 252 6,754,293 $ 675 $ 2,463,667 $ (3,224,839) $ (760,245)
========= ===== ========= ========= =========== ============ ==========
See notes to Financial Statements.
</TABLE>
4
<PAGE>
<TABLE>
<CAPTION>
RAVEN MOON INTERNATIONAL, INC.
STATEMENTS OF CASH FLOWS
For the six months and the three months ended June 30, 2000
Six Months Three Months
ended ended
June 30, June 30,
2000 2000
----------- -----------
CASH FLOWS FROM OPERATING ACTIVITIES
<S> <C> <C>
Net loss $(1,110,948) $ (982,389)
Adjustments to reconcile net loss to net cash used
by operating activities:
(Increase) in Advances (385) (385)
Depreciation and amortization 3,410 1,993
Increase in accrued expenses 192,836 91,436
Shares issued for expenses 770,747 769,902
----------- -----------
Net cash used by operations (144,340) (119,443)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of equipment (577) (577)
----------- -----------
Net cash (used) by investing activities (577) (577)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from sale of common stock 490 --
Debentures payable 29,000 29,000
Loans payable - private placement 100,000 100,000
Notes payable - shareholders 23,749 (4,800)
----------- -----------
Net cash provided by financing activities 153,239 124,200
Net increase in cash 8,322 4,180
Cash at beginning of period 1,158 5,300
----------- -----------
Cash at end of period $ 9,480 $ 9,480
=========== ===========
See notes to Financial Statements.
</TABLE>
5
<PAGE>
RAVEN MOON INTERNATIONL, INC
NOTES TO FINANCIAL STATEMENTS
June 30, 2000 and December 31, 1999
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 5,861,226 and 6,192,762 for the six
months and the three months ended June 30, 2000, respectively. There were no
outstanding common stock equivalents during the fiscal period.
6
<PAGE>
RAVEN MOON INTERNATIONL, INC
NOTES TO FINANCIAL STATEMENTS
June 30, 2000 and December 31, 1999
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 issused and outstanding were reversed 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.
7
<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 hereunto duly authorized.
RAVEN MOON INTERNATIONAL, INC.
Dated: August 23, 2000 By: /s/ Joey DiFrancesco
------------------------------------
Joey DiFrancesco
President
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