ANONYMOUS DATA CORP
10QSB/A, 1999-08-12
MISC HEALTH & ALLIED SERVICES, NEC
Previous: ITURF INC, 8-K, 1999-08-12
Next: SNELLING TRAVEL INC, 10SB12G/A, 1999-08-12



                               UNITED STATES
                    SECURITIES AND EXCHANGE COMMISSION
                         Washington, D.C.   20549



                                FORM 10-QSB
                Quarterly Report Under Section 13 or 15(d)
                  of the Securities Exchange Act of 1934.


For the quarter ended March 31, 1999    Commission file number   000-25523




                        Anonymous Data Corporation
          (Exact name of registrant as specified in its charter)



Nevada                                            86-0857752
(State or other jurisdiction of                   (I.R.S. Employer
incorporation or organization)                    Identification No.)

4340 South Valley View, Suite 210
Las Vegas, Nevada                                      89103
(Address of principal executive offices)               (Zip Code)


                              (702) 221-0756
            Registrant's telephone number, including area code


     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               No    X


    As of March 31, 1999, there were 9,413,160 shares of common stock
                               outstanding.

<PAGE>

                                   INDEX

PART I - FINANCIAL INFORMATION                                   Page No.

     Item 1.   Financial Statements

               Balance Sheet as of March 31, 1999                     3

               Income Statement for the three months
               ending March 31, 1999                                  4

               Statement of Cash Flow for the three months
               ending March 31, 1999                                  5

               Statement of Changes in Financial Position
               for the three months ended March 31, 1999              6

     Item 2.   Management's Discussion and Analysis of
               Financial Condition and Results of Operation           7-9


PART II - OTHER INFORMATION

     Item 1.   Legal Proceedings                                      8

     Item 2.   Changes in Securities                                  8

     Item 3.   Defaults by the Company upon its
               Senior Securities                                      8

     Item 4.   Submission of Matter to a Vote of
               Security Holders                                       9

     Item 5.   Other Information                                      9

     Item 6.   Exhibits and Reports of Form 8-K                       9

     SIGNATURES                                                       9

<PAGE>
<TABLE>
BALANCE SHEET
MARCH 31, 1999

                      PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

                                  ASSETS
<S>                                                    <C>       <C>
Current Assets
  Cash on Hand                                          $300.00
  BankWest Checking Account                            5,024.89
  Nevada State Bank Checking                         219,571.36
  Other Current Assets - CD                          100,000.00
                                                  ---------------------------
Total Current Assets                                             324,896.25

Property and Equipment
  Furniture Fixtures & Equipment                      28,765.54
  Accum. Depr. F.F. & E.                              (9762.00)
                                                  ---------------------------
Total Property and Equipment                                      19,003.54

Other Assets
  Suspense                                             2,750.00
  Prepaid Expenses                                     1,000.00
  Patents                                             73,626.49
  Offering Costs                                     157,700.00
                                                  ---------------------------
Total Other Assets                                               235,076.49
                                                  ---------------------------
Total Assets                                                    $578,976.28
                                                  ===========================
</TABLE>
<TABLE>
                           LIABILITIES & CAPITAL
<S>                                                 <C>         <C>
Current Liabilities
  Accounts Payable                                    $5,869.61
  Federal Tax Withheld                                 1,449.47
  Current Portion-Lease                              (7,003.90)
                                                   --------------------------
Total Current Liabilities                                            315.18

Long-Term Liabilities
  Total Long-Term Liabilities                                          0.00
                                                   --------------------------
  Total Liabilities                                                  315.18

Capital
  Capital Stock Issued                               553,919.00
  Additional Paid-In Capital                         463,134.68
  Beginning Balance Equity                         (156,786.35)
  Retained Earnings                                 (85,179.29)
  Net Income                                       (196,426.94)
                                                   --------------------------
Total Capital                                                    578,661.10
                                                   --------------------------
Total Liabilities & Capital                                     $578,976.28
                                                   ==========================
</TABLE>


                 Unaudited - For Management Purposes Only

<PAGE>
<TABLE>
INCOME STATEMENT
FOR THREE MONTHS ENDING MARCH 31, 1999

<S>                                                              <C>
Revenues
  Sales/Fee Refunds                                                   9.69
                                                                 ---------
Total Revenues                                                        9.69
                                                                 ---------

Cost of Sales
  Cost of Sales                                                       0.00
  Cost of Sales - Salaries & Wages                                    0.00
                                                                 ---------
Total Cost of Sales                                                   0.00
                                                                 ---------

Gross Profit                                                          9.69
                                                                 ---------

Expenses                                                        196,436.63
                                                              ------------
Total Expenses                                                  196,436.63
                                                              ------------
Net Income (Loss)                                            ($196,426.94)
                                                             =============
</TABLE>


                 Unaudited - For Management Purposes Only

<PAGE>
<TABLE>
STATEMENT OF CASH FLOWS
FOR THE THREE MONTHS ENDING MARCH 31, 1999

<S>                                                         <C>
Cash Flow from operating  activities
  Net Income (Loss)                                           (196,426.94)
Adjustments to reconcile net
income to net cash provided by
operating activities
  Other Current Assets                                        (100,000.00)
  Accrued Interest                                              (1,757,67)
                                                             -------------
Total Adjustments                                             (101,757.67)
                                                             -------------
Net Cash provided by Operations                               (298,184.61)
                                                           ===============

Cash Flows from investing activities
Used For
  Furniture Fixtures & Equipment                                (6,024.54)
  Suspense                                                      (2,750.00)
  Patents                                                      (13,062.99)
  Offering costs                                               (13,700.00)
                                                           ---------------
Net cash used in investing                                     (35,537.53)
                                                           ===============
Cash Flows from financing activities
  Capital Stock Issued                                          544,750.00

Net cash used in financing                                      544,750.00
                                                           ---------------
Net increase <decrease> in cash                                 211,027.86
                                                           ===============
Summary
  Cash Balance at End of Period                                 224,896.25
  Cash Balance at Beginning of Period                          (13,793.39)
                                                           ---------------
Net Increase (Decrease) in Cash                                 211,102.86
                                                           ===============
</TABLE>
<PAGE>
<TABLE>
STATEMENT OF CHANGES IN FINANCIAL POSITION
FOR THE THREE MONTHS ENDING MARCH 31, 1999

<S>                                                          <C>
Sources of Working Capital
  Net Income (Loss)                                           (196,426.94)
                                                             -------------
  Working capital from operations                             (196,426.94)
Other sources
  Patents                                                            75.00
  Capital Stock Issued                                          544,750.00
                                                             -------------
Total Sources                                                   348,398.06
                                                             -------------
Uses of working capital
  Furniture Fixtures & Equipment                                (6,024.54)
  Suspense                                                      (2,750.00)
  Patents                                                      (13,062.99)
  Offering Costs                                               (13,700.00)
                                                             -------------
Total Uses                                                     (35,537.53)
                                                             -------------
Net Change                                                      312,860.53
                                                             =============
Analysis of components of changes
Increase <Decrease> in Current Assets
  BankWest Checking Account                                     (8,468.50)
  Nevada State Bank Checking                                    219,571.36
  Other Current Assets - CD                                     100,000.00
  Current Portion - Lease                                         1,757.67
                                                             -------------
Net change                                                      312,860.53
                                                             =============
</TABLE>

                 Unaudited - For Management Purposes Only

<PAGE>

Item 2.    Management's Discussion and Analysis of Financial Condition and
          Results of Operations.

   The following discussion and analysis should be read in conjunction with
the   Company's  financial  statements  and  the  notes  thereto  contained
elsewhere in this filing.

Overview

     Anonymous  Data  Corporation,  a Nevada  corporation  (the  "Company")
formed  in  November 1996, is a development stage company  engaged  in  the
business  of medical data management systems utilizing a medical  biometric
identification  system that; (i) links individuals to the medical  specimen
they  donate for testing by scanning a portion of their anatomy as ID; and,
(ii)  after  testing,  permits access control of the test  results  to  the
benefit  of  the  tested person and/or an authorized person  interested  in
viewing those results.

Results of Operations for the three months ended March 31, 1999

      Total operating expenses from continuing operations were $196,437 for
the  three  months  ended  March 31, 1999, as  compared  to  the  operating
expenses  of $159,227 for the period of December 31, 1997 through  December
31,  1998 its year end. Utilizing an average daily calculation of operating
expenses of $2,182.63 for the period ending March 31, 1999, and an  average
daily  calculation of operating expenses of $436.24 for the  period  ending
December  31,  1998,  this  represented a 400% increase  in  average  daily
operating expenses.

      The  increase  in expenses was primarily the result  of  the  Company
increasing   Computer  and  material  expenses  in  the  sum  of   $96,764,
Advertising  expenses in the sum of $29,373, Professional Expenses  in  the
sum  of  $14,813 and Payroll in the sum of $27,661 during the period ending
March 31, 1999.

Forward-Looking Statements and Associated Risks

     This   Quarterly   Report  on  Form  10-QSB  contains  forward-looking
statements  made pursuant to the safe harbor provisions of  the  Securities
Litigation Reform Act of 1995.  These forward looking statements are  based
largely on the Company's expectations and are subject to a number of  risks
and  uncertainties,  many  of  which  are  beyond  the  Company's  control,
including,  but  not limited to, economic, competitive  and  other  factors
affecting   the  Company's  operations,  markets,  products  and  services,
expansion  strategies and other factors discussed elsewhere in this  report
and  the  documents filed by the Company with the Securities  and  Exchange
Commission.   Actual  results could differ materially from  these  forward-
looking  statements.  In light of these risks and uncertainties, there  can
be  no  assurance  that the forward-looking information contained  in  this
report  will  in fact prove accurate.  The Company does not  undertake  any
obligation  to  revise these forward-looking statements to  reflect  future
events or circumstances.

<PAGE>

Liquidity and Capital Reserves

As of March 31, 1999 (Unaudited)

     As  of  March  31,  1999, the Company's assets were $578,976  and  its
liabilities were $315.18 resulting in an excess of assets of $578,661. Cash
was  $324,896 at March 31, 1999 as compared to cash of $14,793 on  December
31,  1998,  an increase of $310,103. This represented a 2096%  increase  in
available cash.

     The  Company has continued to fund its deficit cash flow from  private
placements of the Company's common stock. It is anticipated that loans  and
the  sale  of  the  Company's stock will continue until such  time  as  the
Company  generates  sufficient  revenues  from  its  operations  to   cover
operating expenses.

     One  of the Company's products has been successfully installed in  the
Family  Court  System in Las Vegas, Nevada.  The system is  anticipated  to
generate revenue to the Company by year end.

Year 2000 Issues

     Certain  of the Company's computer systems and software may  interpret
the  year  2000 as some other date. The operating system generally employed
by the Company is Windows 95, which is year 2000 compliant. The networking,
general ledger and accounts payable and facility point-of-sale and software
programs require software updates or modifications to address the year 2000
problem. The Company is further addressing the matter by replacing  certain
older computers and installing off-the-shelf and other third-party software
that is year 2000 compliant, at an estimated cost of less than $1,000.  The
Company  anticipates that installation of year 2000 compliant software  and
hardware will be completed by the end of 1999. The Company does not believe
that  the  year  2000 problem will have a material affect on the  Company's
operations,  however, no assurance can be given that the  software  updates
and  new  computers will resolve the problem as scheduled or at  all.   The
Company's  major  vender  Laser Barcode Solutions,  Inc  has  provided  the
Company with certification of year 2000 compliance.

PART II--OTHER INFORMATION

Item 1.       Legal Proceedings.

     None

Item 2.       Changes in Securities.

     None.

Item 3.       Defaults by the Company upon its Senior Securities.

     None.

<PAGE>

Item 4.       Submission of Matter to a Vote of Security Holders.

     None

Item 5.       Other Information.

     None

Item 6.       Exhibits and Reports of Form 8--K.

     None

                                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.


ANONYMOUS DATA CORPORATION
(Registrant)



By:/s/ Thomas M. Yokoyama                 By:/s/ Karen Cavallaro
   -----------------------                   ------------------------
  Thomas M. Yokoyama                         Karen Cavallaro
  President                                  Secretary


Date: May 14,1999                         Date: May 14, 1999


<TABLE> <S> <C>

<ARTICLE> 5

<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-END>                               MAR-31-1999
<CASH>                                         324,896
<SECURITIES>                                         0
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                               324,896
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                                 578,976
<CURRENT-LIABILITIES>                              315
<BONDS>                                              0
                                0
                                          0
<COMMON>                                             0
<OTHER-SE>                                           0
<TOTAL-LIABILITY-AND-EQUITY>                   578,976
<SALES>                                              0
<TOTAL-REVENUES>                                    10
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                               196,437
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                              (196,427)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                          (196,427)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 (196,427)
<EPS-BASIC>                                    (.02)
<EPS-DILUTED>                                    (.02)


</TABLE>


© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission