SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
__________________________________________
FORM 10-QSB
(MARK ONE)
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE
ACT OF 1934 FOR THE QUARTERLY PERIOD ENDING SEPTEMBER 30, 2000
OR
[_] TRANSITION REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE
ACT OF 1934 FOR THE TRANSITION PERIOD FROM _______ TO _______
COMMISSION FILE NUMBER 0-25389
FOREFRONT, INC.
----------------------------------------------
(NAME OF SMALL BUSINESS ISSUER IN ITS CHARTER)
NEVADA 98-0199128
------------------- ---------------
(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
1413 South Howard Avenue, Suite 104
Tampa, FL 33606
-------------------------------------- ---------------
(address of principal executive offices) (Zip Code)
Issuer's telephone number: 813-253-2267
540 N. TAMIAMI TRAIL
SARASOTA, FL 34236
---------------------------------------------------
(Former address of principal executive offices)
CHECK WHETHER THE ISSUER (1) FILED ALL REPORTS REQUIRED TO BE FILED BY SECTION
13 OR 15(D) OF THE SECURITIES 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.
YES X NO
--- ---
State the number of shares outstanding of each of the issuer's classes of common
Equity, as of the latest practicable date:
On November 16, 2000, giving effect to an October 27, 2000
five-for-one forward stock split, the registrant had 75,450,055 shares of
Common Stock, par value $0.0002 per share, outstanding.
TRANSITIONAL SMALL BUSINESS DISCLOSURE FORMAT (CHECK ONE): YES [ ] NO [X]
<PAGE>
Page
Number
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PART I - FINANCIAL INFORMATION . . . . . . . . . . . . . . . . . . . . . . . 3
Item 1. Consolidated Balance Sheets as at September 30, 2000 and June 30,
2000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
Consolidated Statement of Operations for the three months ended
September 30, 2000 and September 30, 1999 . . . . . . . . . . . . . 5
Consolidated Statement of Cash Flows for the three months ended
September 30, 2000 and September 30, 1999 . . . . . . . . . . . . . 6
Notes for the Financial Statements . . . . . . . . . . . . . . . . 7
Item 2. Management's Discussion and Analysis . . . . . . . . . . . . . . . 8
<PAGE>
PART I - FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
<TABLE>
<CAPTION>
==========================================================================================================
FOREFRONT, INC. AND SUBSIDIARY
(FORMERLY KNOWN AS ANYOX RESOURCES, INC.)
(A DEVELOPMENTAL STAGE COMPANY)
UNAUDITED CONSOLIDATED BALANCE SHEETS
==========================================================================================================
ASSETS
SEPTEMBER 30, JUNE 30,
2000 2000
--------------- ------------
<S> <C> <C>
CURRENT ASSETS
Cash $ $ 3,615
Due from related party 55,826 55,826
Employee Advances 100,865 -0-
Prepaid expenses -0- 21,734
--------------- ------------
Total current assets 156,691 81,175
Property and equipment, net 491,292 628,583
Other Assets
Goodwill - net 6,460,007 7,091,997
Deposits 2,310 7,577
Capitalized software costs less accumulated amortization
of $26,103 81,783 74,916
Patent rights, less accumulated amortization of $54,457 18,042 38,822
--------------- ------------
Total other assets 6,562,142 7,213,312
--------------- ------------
TOTAL ASSETS $ 7,210,125 $ 7,923,070
=============== ============
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable $ 745,494 $ 508,490
Accounts payable - related party 318,243 318,243
Accrued liabilities 586,828 172,572
Current portion of capital leases 54,675 54,626
Current portion of long-term debt 108,464 191,686
Notes payable - convertible debentures 80,000 -0-
Notes payable 500,000 500,000
Notes payable - related party 190,000 106,000
--------------- ------------
Total current liabilities 2,583,704 1,851,617
Long-term debt -0- -0-
Long-term capital lease liability -0- -0-
Commitments and contingencies - Note 5 -0- -0-
Stockholders' equity (deficit)
Class A - Preferred stock, $0.001 par value, 200,000 shares
authorized; 200,000 shares issued and outstanding 200 200
Common stock, $0.001 par value, 200,000,000
shares authorized; 19,590,011 shares issued and outstanding
and 15,090,011 outstanding, respectively 19,591 15,091
Subscription receivable (4,500) -0-
Additional paid-in capital 7,924,348 8,070,386
Deficit accumulated during the development stage (3,313,218) (2,014,224)
--------------- ------------
Total stockholders' equity (deficit) 4,626,421 6,071,453
--------------- ------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 7,210,125 $ 7,923,070
=============== ============
==========================================================================================================
The accompanying notes are an integral part of these consolidated financial statements.
</TABLE>
- 2 -
<PAGE>
<TABLE>
<CAPTION>
================================================================================================
FOREFRONT, INC. AND SUBSIDIARY
(FORMERLY KNOWN AS ANYOX RESOURCES, INC.)
(A DEVELOPMENTAL STAGE COMPANY)
CONSOLIDATED STATEMENTS OF OPERATIONS
================================================================================================
FOR THE THREE MONTHS Ended INCEPTION TO
September 30, September 30,
2000 1999 2000
<S> <C> <C> <C>
REVENUE
Interest $ 5 $ -0- $ 2,579
EXPENSES
Selling general and administrative 604,724 4,335 3,301,744
Research and development 107,973 -0- 1,307,340
Depreciation and amortization 718,715 -0- 1,342,741
------------ ------------ ---------------
1,431,412 4,335 5,951,825
------------ ------------ ---------------
OTHER INCOME
Gain on disposition of asset 1,475 1,475
NET (LOSS) BEFORE MINORITY SHARE (5,947,771)
LESS: MINORITY SHARE OF
OPERATIONAL LOSSES 2,503,615
NET (LOSS) $(1,429,932) $ (4,335) $ (3,444,156)
============ ============ ===============
BASIC AND FULLY DILUTED LOSS PER SHARE $ (0.16) $ (0.00)
============ ============
WEIGHTED AVERAGE NUMBER OF COMMON
SHARES OUTSTANDING 17,403,198 10,028,500
============ ============
================================================================================================
The accompanying notes are an integral part of these consolidated financial statements.
</TABLE>
- 3 -
<PAGE>
<TABLE>
<CAPTION>
====================================================================================================
FOREFRONT, INC. AND SUBSIDIARY
(FORMERLY KNOWN AS ANYOX RESOURCES, INC.)
(A DEVELOPMENTAL STAGE COMPANY)
UNAUDITED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT)
====================================================================================================
COMMON STOCK PREFERRED STOCK
---------------------- ----------------
SHARES AMOUNT SHARES AMOUNT
---------- ---------- ------- -------
BALANCE - JUNE 30, 2000 15,090,011 $ 15,091 200,000 $ 200
---------- ---------- ------- -------
<S> <C> <C> <C> <C>
Common Stock issued in private placement
(never funded; shares cancelled October
2000) - August 10, 2000 1,000,000 1,000
Common Stock issued in private placement
(never funded; shares cancelled October
2000) - August 14, 2000 1,000,000 1,000
Common Stock issued as collateral in debt
Transaction ( transaction not completed;
Shares cancelled October 2000) - August
16, 2000 2,500,000 2,500
BALANCE - SEPTEMBER 30, 2000 19,590,011 $ 19,591 200,000 $ 200
---------- ---------- ------- -------
====================================================================================================
The accompanying notes are an integral part of these financial statements.
</TABLE>
- 4 -
<PAGE>
<TABLE>
<CAPTION>
====================================================================================================
FOREFRONT, INC. AND SUBSIDIARY
(FORMERLY KNOWN AS ANYOX RESOURCES, INC.)
(A DEVELOPMENTAL STAGE COMPANY)
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2000, 1999
====================================================================================================
FOR THE THREE MONTHS Ended INCEPTION TO
September 30, September 30,
2000 1999 2000
CASH FLOWS FROM OPERATING ACTIVITIES
<S> <C> <C>
Net loss $ (1,429,932) $(4,335) (5,947,771)
Adjustment to reconcile net loss to
net cash used in operating activities
Minority interest in net loss of
consolidated subsidiary - net of capital -0- -0- 1,222,385
Depreciation and amortization 718,715 -0- 1,342,741
Gain on disposition of asset (1,475) -0- (1,475)
Decrease in deposits
Expenses in-kind -0- 1,080 3,300
Changes in operating assets and liabilities
(Increase) in due from Cyberquest -0- -0- (55,826)
(Increase)in employee advances (100,865) (100,865)
Decrease in prepaid expenses 21,734 -0- -0-
Decrease in deposits 5,267 -0- (2,310)
Increase in accounts payable 236,942 (2,065) 1,063,674
Increase in accrued liabilities 414,256 -0- 586,829
Increase in accounts payable - related party -0- 5,500 -0-
------------ --------- -----------------
Net cash (used) in operating activities (135,358) 180 (1,889,318)
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures -0- -0- (404,576)
Intangible asset expenditures (13,742) -0- (179,416)
------------ --------- ----------------
Net cash (used) in investing activities (13,742) -0- (583,992)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from notes payable 164,000 -0- 770,000
Payments on long-term debt 49 -0- (40,500)
Capital lease payments (3,626) -0- (20,975)
Issuance of common stock -0- -0- 18,112
Cost of capital (15,000) -0- (15,000)
Proceeds from equity investors net of
issue costs -0- -0- 1,761,611
------------ --------- ----------------
Net cash provided by financing activities 145,423 12,850 2,473,248
------------ --------- ----------------
NET INCREASE (DECREASE) IN CASH (3,677) 180 (62)
Cash - beginning of period 3,615 1,283 -0-
------------ --------- ----------------
CASH - END OF PERIOD $ (62) $ 1,463 (62)
============ ========= ================
Non-cash financing and investing activities:
--------------------------------------------
In September 2000 a company vehicle was repossessed. The amount removed from fixed assets was
$93,745 with $15,624 in accumulated depreciation, and a liability of $79,596 was removed as well.
====================================================================================================
</TABLE>
The accompanying notes are an integral part of these financial statements.
- 5 -
<PAGE>
FOREFRONT, INC
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
September 30, 2000
(Unaudited - Prepared by Management)
1. ORGANIZATION
The Company was incorporated under the laws of the State of Nevada on July
13, 1998 with the authorized common shares of 200,000,000 shares at $0.001
par value. Although the Company was organized for the purpose of acquiring
and developing mineral properties, it disposed of its mineral properties
and acquired 57% of Web Partners, Inc. (WPI) during March 2000, and the
remaining 43% in May, 2000. WPI, a Florida Corporation formed in September
1998, is a development-stage company with its core business focused on the
research and development of new web-based technologies. As part of the
merger transaction, WPI was dissolved into the Company and a new Nevada
corporation (Forefront Technologies, Inc.) was simultaneously formed and
carries on in place of WPI. Since its inception the Company has completed a
series of Regulation D offerings of 12,028,500 shares of its capital stock
for cash. In March 2000 it exchanged 4,000,000 shares of stock for its 57%
interest in WPI. In addition, 4,000,000 shares were returned to treasury in
March 2000 and canceled. In May, 2000 the Company issued 3,024,754 shares
for the remaining 43% of WPI. In August 2000, the Company issued 4,500,00
shares in two separate transactions that were never funded. The shares were
returned and canceled in October 2000.
2. BASIS OF PRESENTATION
The accompanying unaudited balance sheets of Forefront, Inc. (the
"Company") (a development stage company) at September 30, and the unaudited
statements of operations and unaudited statements of cash flow for the
three months ended September 30, 2000 and 1999 have been prepared by the
Company's management and they do not include all information and notes to
the financial statements necessary for a complete presentation of the
financial position, results of operations, and cash flows in conformity
with generally accepted accounting principles. In the opinion of
management, all adjustments considered necessary for a fair presentation of
the results of operations and financial position have been included and all
such adjustments are of a normal recurring nature.
Operating results for the quarter ended September 30, 2000, are not
necessarily indicative of the results that can be expected for the year
ending June 30, 2001, in part because of serious cash flow deficiencies the
Company experienced during the past several months.
<PAGE>
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Methods
The Company and WPI (now Forefront Tech) recognize income and expenses
Based on the accrual method of accounting. Forefront Tech - WPI revenue
recognition practices will conform to appropriate software revenue
recognition standards.
Dividend Policy
The Company has not yet adopted a policy regarding payment of dividends.
Income Taxes
On June 30, 2000, the Company had a net loss carry forward of approximately
$2,000,000. These losses, in addition to current period losses of
$1,429,932, will be available to offset income in future years. The Company
has fully reserved the tax benefit of these losses. As part of the
acquisition of 57% of the outstanding stock of WPI on March 15, 2000, the
Company also has available approximately $2,205,000 of net operating loss
carryforwards that are subject to certain annual limitations under Internal
revenue Code. These losses were incurred prior to the ownership change.
Loss per Share
Loss per share amounts are computed based on the weighted average number of
shares actually outstanding using the treasury stock method in accordance
with FASB Statement No. 128.
Foreign Currency Translation
Part of the transactions of the Company in 2000 and 1999 were completed in
Canadian dollars and have been translated to US dollars as incurred, at the
exchange rate in effect at the time, and therefore, no gain or loss from
the translation is recognized. All WPI transactions have been in US
dollars.
4. GOING CONCERN
The Company and Forefront Tech will need additional working capital to be
successful in its planned activity and therefore continuation of the
Company as a going concern is dependent upon obtaining additional working
capital. Management of the Company and Forefront Tech have developed a
strategy, which it believes will accomplish this objective through
additional equity funding, and long term financing, which will enable the
Company and Forefront Tech to operate for the coming years. This strategy
has been slow in execution, and accordingly, the Company has run out of
cash.
As discussed in more detail under "Managements Discussion and Analysis",
the Company is in immediate need of capital due to significant cash flow
deficiency and may not continue as a going concern. The Company has no cash
to run its operation. In short, the Company requires an immediate cash
infusion or may have to suspend operations, with one alternative being to
seek protection under the appropriate Federal Bankruptcy procedures. Should
the company be unable to continue as a going concern, the assets and
liabilities listed in the accompanying financial statements would require
restatement on a liquidation basis which would differ materially from the
values as a going concern.
5. COMMITMENTS AND CONTINGENCIES
-------------------------------
As part of the merger agreement with Web Partners, Inc. on May 25, 2000,
the Company is obligated to make its best efforts to implement a stock
option plan and match, in similar terms, the options previously available
to Web Partners, Inc. shareholders and vendors approximating 2,041,000
options. The Web Partners plan was terminated at the merger date. The
Company has not yet completed the required Securities and Exchange
Commission filings as of the balance sheet date. Accordingly, no new
options have been granted. This contingency may effect the reported
acquisition costs of Web Partners, Inc. in the future when the stock option
grants are issued.
6. Debt
----
Due to the financial condition of the Company as of and subsequent to the
balance sheet, the Company defaulted on the capital leases, which are
considered payable on demand by leasing companies. In addition, on Sepember
14, 2000, one company owned vehicle was repossessed by the lender to
satisfy the unpaid debt. The estimated cost of repo fees and interest has
been accrued as of September 30, 2000.
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS
This Form 10-QSB contains forward-looking statements. The words
"anticipate", "believe", "expect", "plan", "intend", "estimate", "project",
"could", "may", "foresee", and similar expressions identify forward-looking
statements that involve risks and uncertainties. You should not place undue
reliance on forward- looking statements in this Form 10-QSB because of
their inherent uncertainty. The following discussion and analysis should be
read in conjunction with the Financial Statements and Notes thereto and
other financial information included in this Form 10-QSB and our Form
10-KSB filed November 14, 2000. Actual results could differ materially from
the results discussed in the forward-looking statements.
Plan of Operation -Background
Forefront, Inc. (the "Company"), was formerly named Anyox Resources, Inc.
("Anyox"). Anyox, a Nevada corporation, was formed in 1998 and operated as
an early development stage company until March, 2000 when it acquired 57%
of Web Partners, Inc. ("WPI"), a Florida corporation. The remaining 43%
minority interest was subsequently acquired in May 2000. At that time, WPI
was merged into a subsidiary of Anyox; Forefront Technologies, Inc.
("Forefront Tech") which took on the assets, liabilities and business of
WPI. Anyox changed its name to Forefront, Inc. At that time, Forefront Tech
(formerly WPI) was an early development stage company, which was formed in
September 1998 and began operations in August 1999. Forefront Tech's core
business is focused on the research and development of new web-based
technologies. Forefront Tech also provides creative production services in
connection with developing online 30-second commercial spot advertisements.
Neither business unit has had any revenue to date. Forefront Tech had
accumulated approximately $4,517,839 in deficits through June 30, 2000. Due
to minority interest accounting, the Company reported only $2,014,224 of
this accumulated deficit at June 30, 2000.
The major spending areas comprising the approximately $4,500,000 of
Forefront Tech deficits at June 30,2000 include advertising expenses of
$162,000 and other selling, general, and administrative expenses of
$2,500,000, research and development cost approximated $1,200,000 and
depreciation and amortization $624,000.
Forefront Tech's technology toolkit is designed to deliver a complete
online advertising platform. The toolkit is comprised of a 30-second
online commercial spot system, called a CyberSpot, and an audience
measurement and commercial delivery verification system, called Delivery
Verification Technology ("DVT"). CyberSpots are Web-based interactive
multi-media commercial spots which use Forefront Tech's Instant On User
Interface ("IOUi") technology which enables the spot to reach the audience
quickly and with minimal disruptions. DVT provides an online advertising
measurement system that verifies audience reach and spot delivery.
Forefront Tech intends to generate revenue from licensing fees, creative /
production fees and a technology license based on a cost-per-play model.
Forefront Tech plans to produce and distribute CyberSpot production
software that will enable global production of CyberSpots by advertisers,
agencies and web development firms. WPI plans to license its family of
technologies within the U.S., Asia and Europe.
Forefront Tech's revenue model currently focuses on four distinct revenue
drivers: (1) the development of CyberSpot ads; (2) the delivery of
CyberSpot ads; (3) CyberSpot enterprise licensing; and (4) DVT licensing.
Each revenue driver has associated variable expenses. Ad production
variable costs are comprised entirely of human resources. A certain number
of personnel are needed to produce and test each ad. The CyberSpot per play
variable cost is comprised of the fee charged by the ad delivery strategic
partner. DVT variable costs are also comprised entirely of human resources.
The DVT team will be responsible for marketing the DVT technology and
identifying additional applications for the technology. Development of the
toolkit is the largest expense item included in the operating expenses.
Executive and operational team salaries and benefits, CyberSpot licensee
technical support, legal fees and advertising also account for a
significant portion of the operating expenses.
<PAGE>
Results of Operations:
Revenue
The Company was involved in the exploration and development of mineral
properties. Since inception the property has generated no revenue and the
property was never developed because of the lack of financing. The
Company's future revenue stream is based on its 100% owned subsidiary
Forefront Tech. Through November 15, 2000, Forefront Tech has recognized no
revenue but does have contracts, orders, and letters of intent from
customers. In addition, Forefront Tech is presently producing commercial
spot advertisements that may generate future revenue. Revenue recognition
in the last quarter of 2000 and beyond will depend upon the status of the
projects at that time and the applicable revenue recognition accounting
standards.
Expenses
For the three months ended September 30, 2000, the Company and Forefront
Tech have recognized expense of approximately $1,431,000 compared to
spending of $4,335 for the period three months ended September 30, 1999.
The Company and its subsidiary have ten full time employees, with Forefront
Tech absorbing all personnel and indirect costs.
Although WPI (now Forefront Tech) was organized in 1998 it did not start
meaningful operations until July 1999. Personnel and personnel related
costs were $493,625 in 2000 and $0 in 1999. Although cash flow shortfalls
caused the Company to curtail operations during this quarter, it continued
to accrue payroll and payroll related expenses for employees who chose to
continue to work and accept payment at a later date. Legal, accounting,
and other professional consulting fees were $101,209 in 2000 and $1,893 in
1999. In addition, the Company recognized approximately $719,000 of
depreciation and amortization in 2000, with no corresponding expense in
1999. The $719,000 consists principally of the amortization of goodwill
related to the acquisition of Forefront Tech/WPI.
Liquidity and Capital Resources
The Company and WPI individually financed their operations to date with a
series of Regulation D offerings of their respective shares of capital
stock, generally for cash. The Company's March 2000 private placement was
for 2,250,000 shares at $0.85 per share with proceeds of $1,912,500. Prior
to the merger, WPI raised $500,000 in the form of bridge financing from a
shareholder group. The notes are past due and the shareholder group has
sent the Company a demand letter. The Company also raised a total of
$190,000 in bridge financing from the two founders through September 30,
2000. During the first quarter of this fiscal year, the Company has entered
into a number of non-binding agreements with various financial groups to
raise both debt and equity capital. In one such transaction, the Company
issued 2,500,000 shares of Class A Common Stock as collateral for a loan
transaction. The transaction failed to go through. In a separate
transaction, the Company issued 2,000,000 shares of Class A Common Stock in
a private placement that was never funded. The stock from both transactions
has been returned and canceled subsequent to September 30, 2000.
In other transactions, the Company raised $80,000 by issuing convertible
corporate debentures with stock warrants in August, 2000. Just recently,
the Company sold 375,000 post split shares at $0.10 per share.
<PAGE>
The combined operations had a net working capital deficit of $2,427,014 at
September 30, 2000. The current Liabilities of $2,583,643 at September 30,
2000 include $500,000 of past due bridge financing from a shareholder
Group, $190,000 of bridge financing from two company founders, $30,000 of
bridge financing from a director and a business associate of a director.
Accounts payable of $1,063,675 include $355,743 payable to a Forefront Tech
Consulting firm founded by this same director. This consulting has been in
the areas typical to a development stage Company and has included
assistance with business plan development, pricing models, and intellectual
property. These services were contracted for in the ordinary course of
business, prior to the director being appointed to the Company's board of
directors, and management believes the pricing and terms were as favorable
as that which could have been obtained from an independent third party.
Also included in other liabilities at September 30, 2000, was $566,703 of
payroll related liabilities. The Company has been unable to fund employee
payrolls since early July, 2000, but continues to accrue payroll for those
employees continuing to work and for employees with contractual
obligations.
The Company's estimated monthly cash requirements approximate $275,000.
This amount may decrease as revenue is generated. However, like most other
development stage companies, Forefront Tech and the Company may not
generate cash from operations for a number of quarters, if at all. The
Company experienced severe cash flow deficiencies starting in June 2000 and
effectively ran out of money during the summer of 2000.
The Company is in immediate need of capital due to significant cash flow
deficiency and may not continue as a going concern. The Company has no cash
to run its operation. Each week it continues to build up additional past
due payroll and vendor liabilities. In short, the Company requires an
immediate cash infusion or may have to suspend operations, with one
alternative being to seek protection under the appropriate Federal
Bankruptcy Procedures. If the Company goes into Chapter 11, existing
shareholder investments may be diluted substantially or be completely lost
through satisfaction of creditor claims. If a Chapter 11 reorganization is
not successful, the Company may be forced into Chapter 7, in which case
shareholders may lose their investment completely.
In recognition of this issue, the Company is continually searching for
sources of additional financing and pursuing venture capital investors.
Although the competition for funding is strong, the Company believes it has
unique, protectable technology. It also believes its public status will be
appealing for potential venture capital investors to execute their
respective exit strategies. Should the Company be unable to continue as a
going concern, the assets and liabilities listed in the accompanying
financial statements would require restatement on a liquidation basis which
would differ materially from the values as a going concern.
<PAGE>
PART II - OTHER INFORMATION
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) EXHIBITS
The following exhibit accompanies this Form 10-QSB:
Exhibit No. Description
27.1 Financial Data Schedule
(b) REPORTS ON FORM 8-K
The following reports on Form 8-K were filed during the third quarter of 2000:
None;
<PAGE>
SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
FOREFRONT, INC.
/s/ Santu Rohatgi 11/20/00
------------------- --------
Santu Rohatgi, President Date
<PAGE>
EXHIBIT INDEX
Exhibit No. Description
27.1 Financial Data Schedule
<PAGE>
