UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-QSB/A
(Mark One)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
FOR THE QUARTERLY PERIOD ENDED MARCH 31, 1999
or
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
FOR THE TRANSITION PERIOD FROM ________ TO ________
COMMISSION FILE NUMBER 333-62167
ATLAS-ENERGY FOR THE NINETIES-PUBLIC #7, LTD.
(Exact name of registrant as specified in its charter)
PENNSYLVANIA 25-1814688
(State of incorporation or organization) (IRS Employer Identification No.)
311 Rouser Road, Moon Township, Pennsylvania, 15108
(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code: (412) 262-2830
NONE
(Former name, former address and former fiscal year, if changed since
last report)
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days. YES X NO
Transitional Small Business Disclosure Format
(Check one) YES X NO
This report is an amendment to the Atlas-Energy For The Nineties - Public #7,
Ltd. ("Partnership") quarterly report on Form 10-QSB for the quarter ended
March 31, 1999. The report is being amended to refile the Statement of Income
and the Statement of Cash Flows, which have been modified to show the impact
ofthe initial adoption of the AICPA's Statement of Position 98-5 ("SOP 98-5")
as a cumulative effect of change in accounting principle. In its
previously-filed Form 10-QSB for the quarter ended March 31, 1999, the
Partnership recorded such impact as a direct charge to Partners' capital.
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:
ATLAS-ENERGY FOR THE NINETIES - PUBLIC #7, LTD.
(Registrant)
/s/ James R. O'Mara
--------------------------------------------
James R. O'Mara
President, CEO and a Director
/s/ Tony C. Banks
--------------------------------------------
Tony C. Banks
Vice President and CFO
Date: September 23, 1999
ATLAS-ENERGY FOR THE NINETIES - PUBLIC #7, LTD.
Statement of Income (Unaudited)
For the three months ended March 31, 1999
Three Months Ended
March 31,
1999
----
Natural gas sales $103,363
Interest income 92
--------
Total revenue 103,455
EXPENSES
Well operating expense 14,373
Depl. and depr. of oil & gas wells and leases 81,470
General and administrative fees 2,944
Professional fees 5,259
Amortization of organizational/syndication costs 0
Other 589
--------
Total expenses 104,635
--------
Earnings before cum. effect of change in acct. prin. (1,180)
Cumulative effect of change in accounting principle (1,798,253)
-----------
Net loss $(1,799,433)
============
The notes to Financial Statements are an integral part of this statement.
ATLAS-ENERGY FOR THE NINETIES - PUBLIC #7, LTD.
Statement of Cash Flows (Unaudited)
For the three months ended March 31, 1999
Three Months Ended
March 31,
1999
----
Cash flows from operating activities
Net loss $(1,799,433)
Adjustments to reconcile net income to net cash
provided by operating activities:
Cumulative effect of change in acct. prin. 1,798,253
Depletion and depreciation 81,470
Amortization 0
Increase in accounts receivable (59,397)
Increase in accounts payable 8,783
---------
Cash provided by operating activities 29,676
Cash flows used in financing activities:
Distributions to partners (29,592)
----------
Net increase in cash 84
Cash at beginning of period 0
----------
Cash at end of period $84
==========
The notes to Financial Statements are an integral part of this statement.
