U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
<P>
AMENDMENT NO. 1 TO
FORM 10-QSB
<P>
(Mark One)
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
<P>
For the quarterly period ended June 30, 2000
<P>
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF
THE EXCHANGE ACT
<P>
For the transition period from to
<P>
Commission File No. 000-27143
<P>
EUROSOFT CORPORATION
<P>
(Name of Small Business Issuer in Its Charter)
<TABLE>
<S> <C>
Florida 22-3538310
(State or Other Jurisdiction of (I.R.S. Employer Identification No.)
Incorporation or Organization)
</TABLE>
<P>
703 LUCERNE AVENUE, SUITE 201, LAKE WORTH, FLORIDA 33460
(Address of Principal Executive Offices) (Zip Code)
<P>
(561)540-5886
(Issuer's Telephone Number, Including Area Code)
<P>
Check whether the issuer: (1) filed all reports required to
be filed by Section 13 or 15(d) of the Exchange Act during
the past 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.
<P>
Yes X No
<P>
State the number of shares outstanding of each of the
issuer's classes of common equity, as of the latest
practicable date: As of August 8, 2000, the Company had
24,623,320 shares of Common Stock outstanding, $0.001 par
value.
<P>
EUROSOFT CORPORATION
Form 10-QSB Quarterly Report
For the Period Ended June 30, 2000
<TABLE>
<S> <C>
Part I - FINANCIAL INFORMATION Page
<P>
Item 1. Financial Statements 3
<P>
Consolidated Balance Sheet at December 31, 1999
and June 30, 2000 4
Consolidated Statements of Operations and
Comprehensive 5
Income (Loss) for the Six Months Ended June 30, 2000
and June 30, 1999
Consolidated Statement of Stockholders' Equity 6
Consolidated Statements of Cash Flows for the Six
Months Ended June 30, 2000 and June 30, 1999 7-8
Notes to Condensed Financial Statements 9-11
<P>
Item 2. Management's Discussion and Analysis of Financial
Condition and Results of Operations 12
<P>
PART II - OTHER INFORMATION 13
<P>
Item 1. Legal Proceedings 13
<P>
Item 2. Changes in Securities 13
<P>
Item 3. Defaults Upon Senior Securities 14
<P>
Item 4. Submission of Matters to a Vote of Security Holders 14
<P>
Item 5. Other Information 14
<P>
Signatures 14
</TABLE>
<P>
PART I - FINANCIAL INFORMATION
<P>
Item 1. Financial Statements:
<P>
BASIS OF PRESENTATION
<P>
The accompanying reviewed financial statements are presented
in accordance with generally accepted accounting principles
for interim financial information and the instructions to
Form 10-QSB and item 310 under subpart A of Regulation S-B.
Accordingly, they do not include all of the information and
footnotes required by generally accepted accounting
principles for complete financial statements. The
accompanying statements should be read in conjunction with
the audited financial statements for the years ended
December 31, 1999. In the opinion of management, all
adjustments (consisting only of normal occurring accruals)
considered necessary in order to make the financial
statements not misleading, have been included. Operating
results for the six months ended June 30, 2000 are not
necessarily indicative of results that may be expected for
the year ending December 31, 2000. The financial statements
are presented on the accrual basis.
Eurosoft Corporation
Consolidated Balance Sheets
<TABLE>
<S> <C> <C>
December 31, June 30,
1999 2000
-------------------------------------
(unaudited)
CURRENT ASSETS
Cash $ 66,035 $ 90,184
Accounts receivable - net of allowance of
$46,919 and $0, respectively 192,699 154,838
Accounts receivable - related parties 20,532 13,958
Accounts receivable - projects in process 170,415 52,526
VAT receivable 16,728 0
Government grants receivable 60,437 57,402
Prepaid expenses and other current assets 7,369 15,830
-------------------------------------
Total current assets 534,215 384,738
-------------------------------------
PROPERTY AND EQUIPMENT
Automobiles 113,202 105,997
Computer equipment 113,259 106,568
Office furniture and equipment 63,407 59,482
-------------------------------------
Total property and equipment 289,868 272,047
Less: accumulated depreciation (84,341) (103,724)
-------------------------------------
Total property and equipment 205,527 168,323
-------------------------------------
OTHER ASSETS
Goodwill 0 16,618
Deposits 1,173 1,129
-------------------------------------
Total other assets 1,173 17,747
-------------------------------------
Total Assets $740,915 $570,808
=====================================
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable $174,567 $165,276
Accounts payable - related parties 568 0
Accrued salaries and payroll taxes 144,037 181,609
Current portion of long-term debt 44,566 47,176
Accrued expenses 11,543 3,052
-------------------------------------
Total current liabilities 375,281 397,113
-------------------------------------
LONG-TERM DEBT 33,502 0
-------------------------------------
Total Liabilities 408,783 397,113
-------------------------------------
STOCKHOLDERS' EQUITY
Preferred stock, $0.0001 par value,
10,000,000 shares authorized;0 shares
outstanding at December 31, 1999 and
June 30, 2000 0 0
Common stock, $0.0001par value,
50,000,000 shares authorized;
22,963,320 and 24,223,320 outstanding 2,296 2,422
Additional paid-in capital 12,679,002 13,105,376
Accumulated comprehensive income (loss) (103,342) (130,166)
Accumulated deficit (12,245,824) (12,803,937)
-------------------------------------
Total stockholders' equity 332,132 173,695
-------------------------------------
Total Liabilities and Stockholders' Equity $740,915 $570,808
</TABLE>
Eurosoft Corporation
Consolidated Statements of Operations and
Comprehensive Income(Loss)
Six Months Ended June 30,
(Unaudited)
<TABLE>
<S> <C> <C>
2000 1999
----------------------------
REVENUES
Software consulting, training, Y2K repair $ 142,503 $ 863,894
Software resales, PC hardware sales 143,798 716,233
----------------------------
Total revenues 286,301 1,580,127
COST OF SALES
Cost of sales 168,270 551,891
----------------------------
Gross margin 118,031 1,028,236
OPERATING EXPENSES
Compensation:
Officers 93,050 164,552
Others 26,223 113,076
Consultants and others 427,617 462,763
Advertising and marketing 5,632 10,516
General and administrative 92,789 433,200
Bad debt provision 0 0
Goodwill amortization 282 0
Depreciation 25,146 29,653
-----------------------------
Total operating expenses 670,739 1,213,760
-----------------------------
Operating loss (552,708) (185,524)
-----------------------------
OTHER INCOME (EXPENSE)
Gain(loss) on sale of equipment 0 (8,073)
Interest income 309 228
Foreign currency transaction gain (loss) (35) (111)
Interest expense (5,679) (5,118)
------------------------------
Total other income and expense (5,405) (13,074)
------------------------------
Net loss before foreign income tax (558,113) (198,598)
Foreign income tax 0 (9,226)
------------------------------
Net loss (558,113) (207,824)
<P>
Other comprehensive income(loss):
Foreign currency translation gain (loss) (26,824) (81,342)
------------------------------
Net comprehensive loss $(584,937) $(289,166)
===============================
Net loss per common share $ (0.01) $ (0.01)
===============================
Weighted average number of shares of
common stock outstanding 23,702,209 22,889,070
================================
</TABLE>
<P>
Eurosoft Corporation
Consolidated Statement of Stockholders' Equity
<TABLE>
<S> <C> <C> <C> <C> <C> <C>
Accumulated
Common Stock Additional Comprehensive Total
Number Par Paid-in Income Accumulated Stockholders'
of Shares Value Capital (Loss) Deficit Equity
----------------------------------------------------------------------------
BEGINNING BALANCE,
December 31, 1997 4,000,000 $ 400 $ 49,800 $(3,630) $(68,034) $(21,464)
<P>
Year ended December 31, 1998:
-----------------------------
Shares contributed
to company (1,900,000) (190) 190 0 0 0
Shares issued
for services 625,000 63 14,937 0 0 15,000
Shares issued
for acquisitions 19,474,070 1,947 11,294,151 0 0 11,296,098
Shares canceled (2,800,000) (280) 280 0 0 0
Shares issued
for cash 3,490,000 349 789,651 0 0 790,000
Foreign currency
translation
gain (loss) 0 0 0 5,741 0 5,741
<P>
Net loss 0 0 0 0 (11,857,899) (11,857,899)
---------------------------------------------------------------------------
BALANCE,
December 31,
1998 22,889,070 2,289 12,149,009 2,111 (11,925,933) 227,476
<P>
Year ended December 31, 1999:
-----------------------------
Shares issued
for cash 74,250 7 529,993 0 0 530,000
Foreign currency
translation
gain (loss) 0 0 0 (105,453) 0 (105,453)
<P>
Net loss 0 0 0 0 (319,891) (319,891)
--------------------------------------------------------------------------
BALANCE, December 31,
1999 22,963,320 2,296 12,679,002 (103,342) (12,245,824) 332,132
<P>
Six Months ended June 30, 2000: (unaudited)
----------------------------------------
Shares issued
for acquisition 100,000 10 17,490 0 0 17,500
Shares issued
for services 1,160,000 116 408,884 0 0 409,000
Foreign currency
translation
gain (loss) 0 0 0 (26,824) 0 (26,824)
<P>
Net loss 0 0 0 0 (558,113) (558,113)
------------------------------------------------------------------------
BALANCE, June 30,
2000
(unaudited) 24,223,320 $ 2,422 $ 13,105,376 $(130,166)$(12,803,937) $173,695
========================================================================
</TABLE>
<TABLE>
EuroSoft Corporation
Consolidated Statements of Cash Flows
Six Months Ended June 30,
(Unaudited)
<S> <C> <C>
2000 1999
-----------------------------
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss $ (558,113) $(207,824)
Adjustments to reconcile net loss to
net cash used by operating
activities:
Depreciation 25,146 29,653
Goodwill amortization 282 0
Common stock issued for services 409,000 0
Loss on sale of property and equipment 0 8,073
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable 84,780 (61,139)
(Increase) decrease in accounts receivable
- related parties 6,574 3,098
(Increase) decrease in accounts receivable
- projects in process 117,889 141,272
(Increase) decrease in deposits 0 3,739
(Increase) decrease in VAT receivable 16,728 (7,119)
(Increase) decrease in government grants
receivable 3,035 (105,840)
(Increase) decrease in prepaid expenses
and other assets (8,461) 37,984
Increase (decrease) in accounts payable (9,291) 10,478
Increase (decrease) in accounts payable
- related parties (568) (32,495)
Increase (decrease) in accrued expense (11,543) (44,505)
Increase (decrease) in accrued salaries
and payroll taxes 37,572 53,664
Increase (decrease) in deferred revenue 0 (6,238)
-----------------------------
Net cash provided (used) by operating activities 113,030 (177,199)
-----------------------------
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property and equipment 0 (18,673)
-----------------------------
Net cash (used) by investing activities 0 (18,673)
-----------------------------
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of common stock for cash 0 327,500
Repayment of debt (30,892) (22,860)
-----------------------------
Net cash provided (used) by financing activities (30,892) 304,640
-----------------------------
Effect of exchange rates on cash (57,989) (29,653)
-----------------------------
Net increase (decrease) in cash and equivalents 24,149 79,115
<P>
CASH and equivalents, beginning of period 66,035 167,518
-----------------------------
CASH and equivalents, end of period $90,184 $246,633
=============================
SUPPLEMENTAL DISCLOSURE OF CASH FLOW
INFORMATION:
Interest paid in cash $5,679 $5,118
=============================
Non-Cash Financing Activities:
------------------------------
Acquisition of subsidiary $17,500 $0
=============================
</TABLE>
<P>
Eurosoft Corporation
Notes to Consolidated Financial Statements
(Information with respect to the six months ended June 30,
2000 and 1999 is unaudited)
<P>
(1) Summary of Significant Accounting Principles
--------------------------------------------
<P>
The Company Eurosoft Corporation (the
Company) is a Florida corporation specializing in computer
software consulting, training and Y2K repair. The Company also
acts as a computer software reseller as well as constructs PCs
on a custom order basis. The Company maintains its executive
offices in Lake Worth, Florida and has operating subsidiaries
in Londonderry, Northern Ireland, Helsinki, Finland, and
Darmstadt, Germany. The Company was incorporated on September
15, 1997, under the laws of the State of Florida.
<P>
The consolidated financial statements have been prepared
in conformity with generally accepted accounting principles.
The following summarize the more significant accounting and
reporting policies and practices of the Company:
<P>
a) Basis of presentation The Company acquired NewSoft,
GmbH, a German corporation, Do It Development International,
OY, a Finnish corporation, Millennium Three Solutions, Ltd, a
Northern Ireland Corporation, and Sicor, Inc. a Florida
corporation, in stock for stock transactions, in a multiple
reverse merger accounted for as a reorganization of the four
operating subsidiaries. In May 2000, the Company acquired
Amenity Zone, Inc., a Florida corporation, in a stock for stock
transaction accounted for as a purchase. The consolidated
financial statements include the accounts of Newsoft, Do It,
Millennium Three, Sicor and Amenity Zone, its wholly owned
subsidiaries. Inter-company accounts and transactions have been
eliminated in the consolidation.
<P>
b) Revenue recognition For the Company's software
consulting, training and Y2K repair operations, the Company
records revenue as the project proceeds on a billed as earned
basis. For the software reselling and custom PC construction
operations, the Company records revenue when the goods are
delivered and accepted by the customer.
<P>
c) Use of estimates In preparing the consolidated
financial statements, management is required to make estimates
and assumptions that affect the reported amounts of assets and
liabilities as of the date of the statements of financial
condition, and revenues and expenses for the year then ended.
Actual results may differ significantly from those estimates.
<P>
d) Net loss per common share Basic net loss per common
share is computed by dividing the net loss by the weighted
average number of common shares outstanding during the period.
<P>
e) Property and equipment All property and equipment are
recorded at cost and depreciated over their estimated useful
lives, using the straight-line method. Upon sale or
retirement, the costs and related accumulated depreciation are
eliminated from their respective accounts, and the resulting
gain or loss is included in the results of operations. Repairs
and maintenance charges which do not increase the useful lives
of the assets are charged to operations as incurred.
<P>
f) Advertising costs The company expenses the costs of
advertising the first time the advertising takes place.
<P>
g) Interim financial information The financial statements
for the six months ended June 30, 2000 and 1999 are unaudited
and include all adjustments which in the opinion of management
are necessary for fair presentation, and such adjustments are
of a normal and recurring nature. The results for the six
months are not indicative of a full year results.
<P>
Eurosoft Corporation
Notes to Consolidated Financial Statements
<P>
(2) Significant Acquisitions The Company acquired 100% of
------------------------
the issued and outstanding common stock of Newsoft, in exchange
for 550,000 shares of common stock of the Company, 500,000
shares of common stock of Sicor, which became 1,000,000 shares
of the Company, and a $300,000 cash investment in Newsoft. The
Company acquired 100% of the issued and outstanding stock of Do
It in exchange for 1,000,000 shares of common stock of the
Company, and $100,000 in cash. The Company acquired 100% of
the issued and outstanding common stock of Millennium Three in
exchange for 4,000,000 shares of common stock of the Company
and a $500,000 cash investment in Millennium Three. The
Company acquired 100% of the issued and outstanding common
stock of Sicor in exchange for 25,922,070 shares of common
stock of the Company. The acquisitions were a multiple reverse
merger accounted for as a reorganization of the four operating
subsidiaries. In May 2000, the Company issued 100,000 shares
of common stock to acquire Amenity Zone in exchange for 100% of
its issued and outstanding common stock. This transaction was
accounted for as a purchase. As a result, the Company recorded
goodwill in the amount of $16,900, which the Company is
amortizing over five years. The Company recorded $282 of
amortization at June 30, 2000.
<P>
(3) Stockholders' Equity The Company has authorized
--------------------
50,000,000 shares of $0.0001 par value common stock and
10,000,000 shares of $0.0001 par value preferred stock. Rights
and privileges of the preferred stock are to be determined by
the Board of Directors prior to issuance. At inception, the
Company issued 2,000,000 shares to the founders for services
valued at par. In 1997 the Company issued 2,000,000 shares in
exchange for $50,000 in cash. In 1998 the Company issued
625,000 shares for services valued at $15,625. In 1998 the
Company issued 3,490,000 shares for $790,000 in cash. In 1998
the Company issued 550,000 shares in connection with the
acquisition of Newsoft, 1,000,000 shares for Do It, 4,000,000
for Millennium Three, and 19,472,070 for Sicor. 1,900,000
shares were contributed back to the Company and 2,800,000
shares previously owned by Sicor were retired at acquisition
date. In 1999, the Company issued 74,250 shares in exchange
for $530,000 in cash. In May 2000, the Company issued 100,000
shares of common stock to acquire 100% of the issued and
outstanding common stock of Amenity Zone. In May 2000, under
S-8 registration, the Company issued 60,000 shares of common
stock to settle a legal bill in the amount of $24,000 and
1,100,000 shares of common stock for services valued at
$385,000.
<P>
(4) Income Taxes The Company has a consolidated net
------------
operating loss carryforward for US income tax purposes,
amounting to $12,804,000 at June 30, 1999, expiring $68,000 at
December 31, 2014, $11,858,000 at December 31, 2018, $320,000
at December 31, 2019 and $558,000 at December 31, 2020.
There may be certain limitations on the Company's ability to
utilize the loss carry-forwards due to the change in control of
the subsidiaries where the losses were incurred. At December
31, 1999, the Company had approximately $60,300 in operating
loss carryforward for Finnish income tax purpose, $118,700 in
Northen Ireland, and $5,700 in Germany. At June 30, 1999, the
Company has a deferred U.S. tax asset of approximately
$5,122,000, for which the Company has established a 100%
valuation allowance, as the Company has no history of
profitable operations.
<P>
(5) Commitments and Contingencies The Company is committed
-----------------------------
to operating leases in Northern Ireland, Germany and Finland.
Under the exchange rates in effect at December 31, 1999, the
Company is obligated to lease payments totaling $71,300 in
2000, $20,500 in 2001, $4,100 in 2002, $1,000 in 2003 and $0
thereafter, for an aggregate commitment of $96,900. The
Company's office space in the US and Finland are leased under
month to month lease agreements.
<P>
The Company is also obligated under two employment
agreements with an officer and another employee for $72,700 and
$56,600 per year at exchange rates in effect at December 31,
1999, for a total remaining commitment at December 31, 1999 of
$258,600.
<P>
Eurosoft Corporation
Notes to Consolidated Financial Statements
<P>
(6) Advertising and Marketing In 1998, the Company
-------------------------
undertook a very extensive and expensive advertising and
marketing campaign with the expectation of generating
substantial revenue from Y2K consulting and repair. This
campaign failed to generate any material revenues or contracts
beyond that which the Company's existing personnel were able to
generate from their personal efforts. The Company expended
approximately $10.5 million on this campaign.
<P>
(7) VAT Tax Receivable In Germany, Finland and Northern
------------------
Ireland, as in many other countries, the government charges a
Value Added Tax, (VAT), that is similar in nature to sales tax
in the U.S. There are three major differences. First is that
VAT is charged at each point of sale. Second is that there are
no exemptions from the collection of VAT. Finally, each
company files a VAT return with the government monthly
reflecting the gross VAT collected and VAT paid. If the VAT
paid is greater than the amount collected, the Company receives
a refund from the government approximately two to five months
later.
<P>
(8) Going Concern As reflected in the accompanying
-------------
financial statements, the Company incurred a significant net
loss of approximately $11,858,000 in 1998, and $320,000 in
1999, resulting in an accumulated deficit of approximately
$12,092,000 at December 31, 1999. The ability of the Company to
continue as a going concern is dependent upon achieving
profitability in its ongoing operations and potentially
obtaining additional capital and/or financing. The Company is
currently seeking to raise additional equity in order to expand
its existing operations. The financial statements do not
include any adjustments that might be necessary if the Company
is unable to continue as a going concern.
<P>
(9) Subsequent Events
-----------------
a) Stockholders' equity - In July 2000, the Company issued
500,000 shares of common stock for services valued at $175,000.
<P>
Item 2. Management's Discussion and Analysis of Financial
Conditions and Results of Operations
<P>
EUROSOFT CORPORATION
MANAGEMENT'S DISCUSSION AND ANALYSIS
<P>
Forward-Looking Statements
<P>
Forward-looking statements, based on management's current views
and assumptions, are made throughout the Management's
Discussion and Analysis and elsewhere in this report to
stockholders. These statements are subject to certain risks and
uncertainties that could cause actual results to differ
materially from historical results and those presently
anticipated or projected. Among the factors that may affect
operating results are the following: success of the Company's
change in focus; competitive environment; and general economic
conditions.
<P>
Results of Operations:
<P>
The Company achieved limited revenues for the six months ended
June 30, 2000 of $286,301 compared to $1,580,127 for the six
months ended June 30, 1999. The Company's core competencies as
an IT services provider/software provider and management
consulting firm provided the majority of the revenue for the
six month period ended June 30, 2000. The decrease in
revenues was a result of the Company redefining its initiatives
after leaving the disappointing Y2K remediation business
behind. The Company's operating expenses decreased nominally
for the six month period ending June 30, 2000 ($1,160,739) from
the six month period ending June 30, 1999 ($1,213,760). This
was based on the following factors: (i) The Company's general
and administrative expenses decreased from $433,200 (for period
ending June 30, 1999) to $92,789 (for period ending June 30,
2000) due to a nominal amount of expenses for Y2K remediation
work; (ii) The Company's operating expenses for consultants
increased from $462,763 (for period ending June 30, 1999) to
$917,617 (for period ending June 30, 2000) due to the Company
hiring additional consultants to reinvent itself and increase
its competencies in IT and management consulting; (iii) The
Company's expenses for Officers and others decreased from
$277,628 (for period ending June 30, 1999) to $119,273 (for
period ending June 30, 2000) based on a decrease in Y2K
remediation work. The above increases and decreases basically
offset each other. Therefore, this resulted in a nominal
decrease in operating expenses for the Company during the six
month period ending June 30, 2000 from the six month period
ending June 30, 1999.
<P>
Liquidity:
<P>
Net cash provided (used) by operating activities increased from
($177,199) for the six month period ending June 30, 1999 to
$113,030 for the six month period ending June 30, 2000. This
was due mainly to the Company issuing its common stock for
services rendered
<P>
Future Outlook:
<P>
The Company intends to reinvent itself over the next several
months through a modification in business plan. The Company
will continue in its core competencies, IT and management
consulting, but begin a new marketing initiative, which will
allow the Company to tap into new revenue streams. The Company
will launch this initiative sometime in the fiscal third
quarter of 2000. The primary basis is to capitalize on the
Company's broad global diversity and technology skills. The
initiative will be an offering of services to aid businesses in
the development of their foreign markets in an efficient and
affordable scale. US Companies will be able to launch German
based commerce sites for less than $2,000. The Company also has
premium products developed for this market, as well as the
planned addition of Swedish and Finnish before year-end and
Spanish, French and Italian during Fiscal 2001. The Company's
marketing strategy will initially seek a partnership with a US
based Internet marketing firm and will expand as resources
allow.
<P>
PART II - OTHER INFORMATION
<P>
Item 1. Legal Proceedings. Not applicable
<P>
Item 2. Changes in Securities.
<P>
On June 2, 2000, the Company issued the following shares
under an S-8 Registration Statement:
<P>
Richard I. Anslow- 50,000 shares
Gregg E. Jaclin- 10,000 shares
<P>
On June 16, 2000, the Company issued the following shares
under an S-8 Registration Statement:
<P>
Darin S. Reubel-100,000 shares
Mark A. Mintmire-300,000 shares
Donald F. Mintmire-700,000 shares
<P>
Item 3. Defaults Upon Senior Securities. Not Applicable
<P>
Item 4. Submission of Matters to a Vote of Security Holders.
<P>
None.
<P>
Item 5. Other Information. None
<P>
Item 6. Exhibits and Reports of Form 8-K. On May 10, 2000, the
Company filed an 8-K12g3 for the Stock Acquisition and
Reorganization Agreement between the Company and Amenity Zone,
Inc. ("Amenity) dated May 8, 2000.
<P>
Exhibit 27 - Financial Date Schedule - Electronic Filing
Only
<P>
SIGNATURES
<P>
Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the Registrant has duly caused
this 10-QSB report to be signed on its behalf by the
undersigned there unto duly authorized.
<P>
EUROSOFT CORPORATION
(Registrant)
<P>
By: /S/ William H. Luckman
------------------------------------
William H. Luckman
Executive Vice President
Date: September 7, 2000
<P>
