U.S. Securities and Exchange Commission
Washington, D.C. 20549
Form 10 - SB
GENERAL FORM FOR REGISTRATION OF SECURITIES
FOR SMALL BUSINESS ISSUERS
Under Section 12(b) or (g) of the Securities Exchange
Act of 1934
XAIBE, INC.
(Name of Small Business Issuer in its Charter)
Nevada
76 B 059 - 4907
(State or other jurisdiction (IRS Employer ID
of incorporation or number)
organization)
2400 Loop 35, #1502, Alvin TX
77512
(Address of Principal Executive Offices)
(Zip Code)
Issuer's Telephone Number: (281) 331-5580
Securities to be Registered under Section 12(b) of
the Act:
Title of each class Name of each
exchange on which
to be so registered Each class is
to be registered
Not Applicable
Securities to be registered under Section 12(b) of
the Act:
Common Stock
(Title of Class)
XAIBE, INC.
(A Development Stage Enterprise)
FINANCIAL STATEMENTS
For the Period from July 17, 1998
(Inception) through October 31, 1999
/S/ Janet Loss, C.P.A., P.C.
Certified Public Accountant
3525 South Tamarac Drive, Suite 120
Denver, Colorado 80237
XAIBE, INC.
(A Development Stage Enterprise)
INDEX TO FINANCIAL STATEMENTS
TABLE OF CONTENTS
Condensed Balance Sheet, October 31, 1999
Condensed Statement of Operations, for the
Period from July 17, 1998 (Inception)
Thru October 31, 1999
Condensed Statement of Stockholders' Equity (Deficit),
For the period from July 17, 1998 (Inception)
Thru October 31, 1999
Condensed Statement of Cash Flows, for the
Period from July 17, 1998 (Inception)
Thru October 31, 1999
Notes to Financial Statements
XAIBE, INC.
(A Development Stage Enterprise)
CONDENSED BALANCE SHEET
<TABLE>
<CAPTION>
October 31, 1999
ASSETS
<S> <C>
CURRENT ASSETS:
Cash in checking $2,204
OTHER ASSETS:
License Rights $1,000
Deferred Offering Costs $10,005
Total other Asset $11,005
TOTAL ASSETS $13,209
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES: $0
STOCKHOLDERS' EQUITY:
Common stock, $0.001 Par
value, 10,000,000 shares
Authorized, 1,600,000 shares
Issued and outstanding 1,600
Additional Paid-In capital 19,900
Retained earnings (Deficit) (8,291)
Total Stockholders' Equity 13,209
Total Liabilities and
Stockholders' Equity $13,209
</TABLE>
"See notes to condensed financial statements."
XAIBE, INC.
(A Development Stage Enterprise)
CONDENSED STATEMENT OF OPERATIONS
For the period July 17, 1998 (Inception)
Thru October 31, 1999
<TABLE>
<S> <C>
REVENUES: $0
OPERATING EXPENSES:
Bank charges 66
Management fees 5,000
Legal and Accounting Fees 3,000
Office Expenses 225
Total Operating Expenses 8,291
NET (LOSS) $(8,291)
NET (LOSS) PER
SHARE OF COMMON STOCK (.0085)
Weighted Average
Number of shares
Outstanding 966,666
</TABLE>
"See notes to condensed financial statements."
XAIBE, INC.
(A Development Stage Enterprise)
CONDENSED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT)
For the period from July 17, 1998 (Inception)
Thru October 31, 1999
<TABLE>
<CAPTION>
Common Common Additional Deficit Total
Stock Stock Paid-in Accumulated Stockholders
Number of Amount Capital During Equity
Shares Developement
Stage
<S> <C> <C> <C> <C> <C>
Balance 0 $0 $0 $0 $0
July 17,
1998
October 6,
1998, shares
issued for
organizational
costs 500,000 500 0 0 500
May 28, 1999,
shares issued
for license
agreement 1,000,000 1,000 0 0 1,000
May 31, 1999,
shares issued
for cash 100,000 100 19,900 0 20,000
Net (Loss)
for the
period ended
October 31,
1999 0 0 0 (8291) (8291)
Balance
October 31,
1999 1,600,000 1,600 19,900 (8291) 13209
</TABLE>
"See notes to condensed financial statements."
XAIBE, INC.
(A Development Stage Enterprise)
CONDENSED STATEMENT OF CASH FLOWS
For the period from July 17, 1998 (Inception)
Thru October 31, 1999
<TABLE>
<CAPTION>
CASH FLOWS FROM OPERATING
ACTIVITIES:
<S> <C>
Net Income (Loss) $(8,291)
Adjustments to Reconcile
Net (Loss) to Cash Flow From
Operating Activities:
Increase in license rights $(1,000)
Increase in deferred
offering costs (10,005)
Net cash provided (Used)
By operating activities (19,296)
CASH FLOWS FROM FINANCING
ACTIVITIES:
Issuance of Common
Stock 21,500
Net increase in Cash 2,204
CASH, BEGINNING OF PERIOD 0
CASH, END OF PERIOD $2,204
</TABLE>
"See notes to condensed financial statements."
XAIBE, INC.
(A Development Stage Enterprise)
NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)
NOTE A - BASIS OF PRESENTATION
The accompanying unaudited financial statements have been prepared in
accordance with generally accepted accounting principles for interim
financial information and with instructions to Regulation S-B. Accordingly,
they do no 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 statement of May 31, 1999. In the opinion of management, all
adjustments (consisting only of normal recurring accruals) considered
necessary in order to make the financial statements not misleading, have
been included. Operating results for the period ended October 31, 1999 are
not necessarily indicative of the results that may be expected for full
calendar years ended June 30, 2000. The financial statements are
presented on the accrual basis.
