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Previous: RAVEN MOON INTERNATIONAL INC, 10QSB, EX-27, 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 September 30, 1998
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.
<PAGE>
RAVEN MOON INTERNATIONAL, INC.
QUARTERLY FINANCIAL STATEMENTS
SEPTEMBER 30, 1998
RICHARD L. BROWN & COMPANY, P.A.
CERTIFIED PUBLIC ACCOUNTANTS
<PAGE>
RAVEN MOON INTERNATIONAL, INC.
TABLE OF CONTENTS
--------------------------------------------------------------------------------
Quarterly Statements - September 30, 1998
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>
RAVEN MOON INTERNATIONAL, INC.
(Formerly Ybor City Shuttle Services, Inc.)
Balance Sheets
ASSETS
September 30, December 31,
1998 1997
------------- ------------
CURRENT ASSETS:
Cash and cash equivalents $ 32,974 $ 5,524
Accounts receivable 1,400 --
Receivable from affiliated companies -- 44,500
----------- -----------
Total current assets 34,374 50,024
OFFICE EQUIPMENT, net of $803 and $122
of accumulated depreciation 4,345 3,526
MASTER PRODUCTION COSTS 48,622 --
ROYALTY RIGHTS 50,000 50,000
PRODUCTION RIGHTS 3,000 3,000
ORGANIZATION COSTS, net of $2,346
of accumulated amortization 17,192 --
DEPOSITS 2,546 2,546
----------- -----------
$ 160,079 $ 109,096
=========== ===========
LIABILITIES
CURRENT LIABILITIES:
Accounts payable $ 4,368 $ 3,105
Accrued liabilities 5,954 18,333
Note payable - Officer 6,900 --
Payable to affiliated company 177,270 800
----------- -----------
Total current liabilities 194,492 22,238
----------- -----------
COMMITMENTS AND CONTINGENCIES (see note 8)
STOCKHOLDERS' EQUITY
Common stock, $.0001 par value
(authorized 10,000,000 shares;
issued and outstanding 616,274
in 1998 and 62,168 in 1997) 62 6
Additional paid-in capital 1,403,197 429,384
Accumulated deficit (1,437,672) (342,532)
----------- -----------
Total stockholders' equity (34,413) 86,858
----------- -----------
$ 160,079 $ 109,096
=========== ===========
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, 1998
Nine months Three months
ended ended
September 30, September 30,
1998 1998
----------- -------------
REVENUES:
Sales $ 230,030 $ 57,635
----------- -----------
Total revenues 230,030 57,635
COSTS AND EXPENSES:
Cost of revenues 753,119 241,077
Depreciation 681 227
General and administative expense 170,579 53,006
----------- -----------
Total costs and expenses 924,379 294,310
----------- -----------
Net loss before discontinued operations (694,349) (236,675)
Discontinued operations 400,791 --
----------- -----------
Net loss (1,095,140) (236,675)
Accumulated deficit, prior year (342,532) (1,200,997)
----------- -----------
Accumulated deficit, current year $(1,437,672) $(1,437,672)
=========== ===========
Net loss per share $ (2.24) $ (0.40)
=========== ===========
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, 1998
Common Stock Additional
----------------------------- paid-in Accumulated
Shares Amount capital deficit Total
------ ------ ------- ------- -----
<S> <C> <C> <C> <C> <C>
Balance December 31, 1997 62,168 $ 6 $ 429,384 $ (342,532) $ 86,858
Shares issued for cash 370,820 37 969,810 969,847
Shares issued for expenses 183,286 19 $ 4,003 4,022
Net loss for the period (1,095,140) (1,095,140)
----------- ----------- ----------- ----------- -----------
Balance September 30, 1998 616,274 $ 62 $ 1,403,197 $(1,437,672) $ (34,413)
=========== =========== =========== =========== ===========
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, 1998
Nine Months Three Months
Ended Ended
September 30, September 30,
1998 1998
----------- ----------
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss $(1,095,140) (236,675)
Adjustments to reconcile net loss to
net cash used by operating activities:
(Increase) in receivables (1,400) --
Decrease in receivables from
affiliated company 44,500 6,500
Depreciation and amortization 3,027 1,615
Increase in production costs (48,622) (27,597)
Increase in organization costs (19,538) (5,399)
(Decrease) in accounts payable 1,263 4,368
Increase (Decrease) in accrued expenses (12,379) 4,069
Increase in payable to affiliated company 176,470 169,021
Shares issued for expenses 4,004 14
----------- -----------
Net cash used by operations (947,815) (84,084)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of equipment (1,500) --
----------- -----------
Net cash used by investing activities (1,500) --
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from sale of common stock 969,865 105,212
Notes payable - officers 6,900 6,900
----------- -----------
Net cash provided by financing activities 976,765 112,112
Net increase in cash 27,450 28,028
Cash at beginning of period 5,524 4,946
----------- -----------
Cash at end of period $ 32,974 $ 32,974
=========== ===========
</TABLE>
See notes to Financial Statements.
5
<PAGE>
RAVEN MOON INTERNATIONL, INC
(Formerly Ybor City Shuttle Services, Inc.)
NOTES TO FINANCIAL STATEMENTS
September 30, 1998 and December 31, 1997
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 448,685 and 595,953 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>
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
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