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Previous: UNIVERSAL BEVERAGES HOLDINGS CORP, 3, 2000-11-03 |
Next: RAVEN MOON INTERNATIONAL INC, 10QSB, EX-27, 2000-11-03 |
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 September 30, 2000
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>
<TABLE>
<CAPTION>
RAVEN MOON INTERNATIONAL, INC.
Balance Sheets
ASSETS
September 30, December 31,
2000 1999
----------- -----------
CURRENT ASSETS:
<S> <C> <C>
Cash and cash equivalents $ 9,526 $ 1,158
Advances 3,185 2,800
----------- -----------
Total current assets 12,711 3,958
OFFICE EQUIPMENT, net of 3,132 and $1,813 of accumulated
depreciation 3,768 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 $9,185 and $6,254 of accumulated
amortization 10,353 13,284
----------- -----------
$ 130,586 $ 126,083
=========== ===========
LIABILITIES
CURRENT LIABILITIES:
Accrued liabilities $ 387,940 $ 105,700
Debentures payable 63,000 --
Loans payable - private placement 100,000 --
----------- -----------
Total current liabilities 550,940 105,700
----------- -----------
LONG TERM DEBT TO AFFILIATED COMPANIES,
OFFICERS AND STOCKHOLDERS' 536,528 440,917
----------- -----------
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 6,739,168 in 2000 and 5,390,123 in 1999 673 539
Additional paid-in capital 2,720,336 1,692,797
Accumulated deficit (3,678,143) (2,113,891)
----------- -----------
Total stockholders' equity (956,882) (420,534)
----------- -----------
$ 130,586 $ 126,083
=========== ===========
See notes to Financial Statements.
2
</TABLE>
<PAGE>
RAVEN MOON INTERNATIONAL, INC.
STATEMENTS OF OPERATIONS AND ACCUMULATED DEFICIT
For the nine months and the three months ended September 30, 2000
Nine Months Three Months
ended ended
September 30, September 30,
2000 2000
----------- -----------
REVENUES:
Sales $ 6,702 $ --
COSTS AND EXPENSES:
Cost of revenues 1,028,420 240,667
Depreciation 1,319 440
Selling expense 2,957 750
Interest 35,403 5,403
General and administative expense 502,855 206,044
----------- -----------
Total costs and expenses 1,570,954 453,304
Net loss (1,564,252) (453,304)
Accumulated deficit, prior year (2,113,891) (3,224,839)
----------- -----------
Accumulated deficit, current year $(3,678,143) $(3,678,143)
=========== ===========
Net loss per share $ 0.25 $ 0.07
=========== ===========
See notes to Financial Statements.
3
<PAGE>
<TABLE>
<CAPTION>
RAVEN MOON INTERNATIONAL, INC.
STATEMENTS OF STOCKHOLDERS' EQUITY
For the nine months ended September 30, 2000
Preferred Stock Common Stock
-------------------------- --------------------------
Shares Amount Shares Amount
----------- ----------- ----------- ------------
<S> <C> <C> <C> <C>
Balance December 31, 1999 208,178 $ 21 5,390,123 $ 539
Preferred shares issued 2,309,638 231
Shares issued for cash 24,000 2
Shares issued for expenses 2,020,900 202
Cancelled shares (695,855) (70)
Net loss for the period
----------- ----------- ----------- ------------
Balance September 30, 2000 2,517,816 $ 252 6,739,168 $ 673
=========== =========== =========== ============
See notes to Financial Statements
4
</TABLE>
<PAGE>
RAVEN MOON INTERNATIONAL, INC.
STATEMENTS OF STOCKHOLDERS' EQUITY
For the nine months ended September 30, 2000
Additional
paid-in Accumulated
capital deficit Total
----------- ----------- -----------
Balance December 31, 1999 $ 1,692,797 $(2,113,891) $ (420,534)
Preferred shares issued (231) --
Shares issued for cash 488 490
Shares issued for expenses 1,027,212 1,027,414
Cancelled shares 70 --
Net loss for the period (1,564,252) (1,564,252)
----------- ----------- -----------
Balance September 30, 2000 $ 2,720,336 $(3,678,143) $ (956,882)
=========== =========== ===========
See notes to Financial Statements
4B
<PAGE>
<TABLE>
<CAPTION>
RAVEN MOON INTERNATIONAL, INC.
STATEMENTS OF CASH FLOWS
For the nine months and the three months ended September 30, 2000
Nine Months Three Months
ended ended
September 30, September 30,
2000 2000
----------- -----------
CASH FLOWS FROM OPERATING ACTIVITIES
<S> <C> <C>
Net loss $(1,564,252) $ (453,304)
Adjustments to reconcile net loss to net cash used
by operating activities:
(Increase) in Advances (385) --
Depreciation and amortization 4,250 1,417
Increase in accrued expenses 282,240 89,404
Shares issued for expenses 1,027,414 256,667
----------- -----------
Net cash used by operations (250,733) (105,816)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of equipment -- --
----------- -----------
Net cash (used) by investing activities -- --
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from sale of common stock 490 --
Debentures payable 63,000 34,000
Loans payable - private placement 100,000 --
Notes payable - shareholders 95,611 71,862
----------- -----------
Net cash provided by financing activities 259,101 105,862
Net increase in cash 8,368 46
Cash at beginning of period 1,158 9,480
----------- -----------
Cash at end of period $ 9,526 $ 9,526
=========== ===========
See notes to Financial Statements.
5
</TABLE>
<PAGE>
RAVEN MOON INTERNATIONL, INC
NOTES TO FINANCIAL STATEMENTS
September 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 6,156,561 and 6,767,774 for the nine
months and the three months ended September 30, 2000, 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:
Balance Sheet as of September 30, 2000
Statement of Operations and Accumulated Deficit as of September 30, 2000
Statement of Stockholders' Equity as of September 30, 2000
Statement of Cash Flows as of September 30, 2000
Notes to Financial Statements
(b) Exhibits
Ex-27 Financial Data Schedule (FDS)
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: October 30, 2000 By: /s/ Joey DiFrancesco
-----------------------------
Joey DiFrancesco
President
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