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Previous: RAVEN MOON INTERNATIONAL INC, 10QSB, 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 September 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>
RAVEN MOON INTERNATIONAL, INC.
(Formerly Ybor City Shuttle Services, Inc.)
Balance Sheets
ASSETS
September 30, December 31,
1999 1998
------------ ------------
CURRENT ASSETS:
Cash and cash equivalents $ 2,831 $ 5,669
Accounts receivable 2,800 1,400
Receivable from affiliated companies 78,957 --
----------- -----------
Total current assets 84,588 7,069
OFFICE EQUIPMENT, net of $1,511 and $1,029
of accumulated depreciation 5,396 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 $5,277 and
$2,346 of accumulated amortization 14,261 17,192
DEPOSITS 2,546 2,546
----------- -----------
$ 210,545 $ 134,680
=========== ===========
LIABILITIES
CURRENT LIABILITIES:
Accounts payable $ 1,099 $ --
Accrued liabilities -- 3,508
Note payable - Officer 28,700 28,700
Note payable 186,193 186,193
Payable to affiliated company 127,156 28,395
----------- -----------
Total current liabilities 343,148 246,796
----------- -----------
COMMITMENTS AND CONTINGENCIES (see note 8)
STOCKHOLDERS' EQUITY
Common stock, $.0001 par value
(authorized 10,000,000 shares;
issued and outstanding 5,321,324
in 1999 and 754,787 in 1998) 532 75
Additional paid-in capital 1,687,505 1,538,061
Accumulated deficit (1,820,640) (1,650,252)
----------- -----------
Total stockholders' equity (132,603) (112,116)
----------- -----------
$ 210,545 $ 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 nine months and the three months ended September 30, 1999
Nine months Three months
ended ended
September 30, September 30,
1999 1999
------------- -------------
REVENUES:
Sales $ 31,480 $ 14,299
----------- -----------
Total revenues 31,480 14,299
COSTS AND EXPENSES:
Cost of revenues 68,539 9,963
Depreciation 879 293
Selling expense 7,085 4,973
General and administative expense 125,365 16,008
----------- -----------
Total costs and expenses 201,868 31,237
----------- -----------
Net loss (170,388) (16,938)
Accumulated deficit, prior year (1,650,252) (1,803,702)
----------- -----------
Accumulated deficit, current year $(1,820,640) $(1,820,640)
=========== ===========
Net loss per share $ (0.08) $ (0.01)
=========== ===========
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 nine months ended September 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 104,976 11 145,430 145,441
Shares issued for expenses 4,461,561 446 $ 4,014 4,460
Net loss for the period (170,388) (170,388)
----------- ---------- ----------- ----------- -----------
Balance June 30, 1999 5,321,324 $ 532 $ 1,687,505 $(1,820,640) $ (132,603)
=========== =========== =========== =========== ===========
See notes to Financial Statements.
4
<PAGE>
RAVEN MOON INTERNATIONAL, INC.
(Formerly Ybor City Shuttle Services, Inc.)
STATEMENTS OF CASH FLOWS
For the nine months and the three months ended September 30, 1999
Nine Months Three Months
Ended Ended
September 30, September 30,
1999 1999
------------- -------------
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss $(170,388) (16,938)
Adjustments to reconcile net loss
to net cash used by operating activities:
(Increase) in receivables (1,400) --
(Increase) in receivables from
affiliated company (78,957) (13,651)
Depreciation and amortization 3,810 1,270
(Decrease) in accounts payable -- (8,290)
(Decrease) in accrued expenses (2,409) (1,911)
Increase in payable to affiliated company 98,761 24,550
Shares issued for expenses 5,420 3,524
--------- ---------
Net cash used by operations (145,163) (11,446)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of equipment (2,156) (1,944)
Deposit on leased premises -- --
--------- ---------
Net cash used by investing activities (2,156) (1,944)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from sale of common stock 144,481 16,221
Notes payable - officers -- --
Notes payable -- --
--------- ---------
Net cash provided by financing activities 144,481 16,221
Net increase in cash (2,838) 2,831
Cash at beginning of period 5,669 --
--------- ---------
Cash at end of period $ 2,831 $ 2,831
========= =========
See notes to Financial Statements.
5
</TABLE>
<PAGE>
RAVEN MOON INTERNATIONL, INC.
(Formerly Ybor City Shuttle Services, Inc.)
NOTES TO FINANCIAL STATEMENTS
September 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 2,391,055 and 5,081,323 for the nine
months and the three months ended September 30, 1999, respectively. There were
no outstanding common stock equivalents during the fiscal period.
6
<PAGE>
Item 2. Acquisition or Disposition of Assets.
The Company has continued to work on development of its music, audio, video
and television entertainment business.
Item 7. Financial Statements and Exhibits.
(a) Financial Statements:
Consolidated Balance Sheet as of September 30, 1999
Consolidated Income Statement as of September 30, 1999
Consolidated Statement of Retained Earning as of September 30, 1999
Consolidated Statement of Cash Flows as of September 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 10, 2000 By: /s/ Joey DiFrancesco
-------------------------------
Joey DiFrancesco, President
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> SEP-30-1999
<CASH> 2,831
<SECURITIES> 0
<RECEIVABLES> 81,757
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 84,588
<PP&E> 6,907
<DEPRECIATION> 1,511
<TOTAL-ASSETS> 210,545
<CURRENT-LIABILITIES> 343,148
<BONDS> 0
0
0
<COMMON> 532
<OTHER-SE> (133,135)
<TOTAL-LIABILITY-AND-EQUITY> 210,545
<SALES> 31,480
<TOTAL-REVENUES> 31,480
<CGS> 68,539
<TOTAL-COSTS> 201,868
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> (170,388)
<INCOME-TAX> 0
<INCOME-CONTINUING> (170,388)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (170,388)
<EPS-BASIC> (.08)
<EPS-DILUTED> (.08)
</TABLE>
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