SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-Q
[X] Quarterly Report Under Section 13 or 15(d)
of the Securities Exchange Act of 1934
Commission File No.: 33-18385-LA
ASTIR, INC.
(Exact name of registrant as it appears in its charter)
NEVADA 88-0306861
(State or jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
4016 N. Tenaya Way, Suite 184, Las Vegas, NV 89129
(Address of Principal Executive Office) (Zip Code)
Registrant's telephone number, including area code: (702)-768-0555
Securities registered pursuant to Section 12 (b) of the Act:
None
Securities registered pursuant to Section 12 (b) of the Act:
Class A Common Stock $0.001 Par Value
Indicate by check mark whether the registrant (1) has filed all
reports to be filed by Section 13 or 15 (d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or 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
At the end of the quarter ending June 30, 1999 there were
2,500,000 issued and outstanding shares of the registrants common
stock.
There is no active market for the registrant's securities.
<PAGE> 2
PART I. FINANCIAL INFORMATION
Item 1. FINANCIAL STATEMENTS
Balance Sheet
Statement of Operations
Statement of Stockholders Equity
Statement of Cash Flows
Notes to Financial Statements
Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATION.
Results of Operations
The Company has had no operations during this quarter.
<PAGE> 3
PART II. OTHER INFORMATION
Item 1. Legal Proceedings.
None
Item 2. Changes in Securities
None
Item 3. Default Upon Senior Securities
None
Item 4. Submission of matters To a Vote of Security Holders
None
Item 5. Other Information.
None
Item 6. Exhibits and Reports on Form 8-K
(a) The following documents are filed as part of this report:
Financial Statements as of June 30, 1999 as prepared by the
Company
<PAGE> 4
ASTIR, INC.
FINANCIAL STATEMENTS
CONTENTS
Page
Independent Auditor's Report 1
Finacial Statements
Balance Sheet 2
Statement of Operations 3
Statement of Changes in Stocholder's Equity 4
Statement of Cash Flows 5
Notes to Financials 6-7
<PAGE> 1
Board of Directors
Astir, Inc.
Las Vegas, Nevada
KURT D. SALIGER, CPA
Certified Public Accountant
INDEPENDENT AUDITOR'S REPORT
Member Nevada Society
of Certified Public Accountants
I have audited the accompanying balance sheets of Astir, Inc. (a
development stage company), as of June 30, 1999 and the related
statements of operations, changes in stockholders' equity and
cash flows for the period then ended. These financial statements
are the responsibility of the Company's management. My
responsibility is to express an opinion on these financial
statements based on my audit.
I conducted my audit in accordance with generally accepted
auditing standards. Those standards require that I plan and
perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement. An
audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating
the overall financial statement presentation. I believe that my
audit provides a reasonable basis for my opinion.
In my opinion, the financial statements referred to above
present. fairly, in all material respects, the financial position
of Astir, Inc. (a development stage company) at June 30, 1999 and
the results of its operations and its cash flows for the period
then ended in conformity with generally accepted accounting
principles.
The accompanying financial statements have been prepared assuming
the Company will continue as a going concern. As discussed in
Note 3 to the financial statements, the Company has had no
operations and has no established source of revenue. This raises
substantial doubt about its ability to continue as a going
concern. Management's plan in regard to these matters are also
described in Note 3. The financial statements do not include any
adjustments that might result from the outcome of this
uncertainty.
/s/ Kurt D. Saliger, C.P.A.
Kurt D. Saliger C.P.A.
July 28, 1999
5000 W. Oakey, Suite A-4, Las Vegas, Nevada 89146
Phone: (702) 367-1988 Fax: (702) 870-8388
<PAGE> 2
ASTIR, INC.
(A Development Stage Company)
Balance Sheet
June 30, 1999
ASSETS
CURRNET ASSETS
Cash $ 400.00
TOTAL CURRENT ASSETS 400.00
TOTAL ASSETS $ 400.00
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Officers Advances $7,265.00
TOTAL CURRENT LIABILITIES $7,265.00
LONG-TERM DEBT $ -0-
STOCKHOLDERS' EQUITY
Common Stock, $.001 par value
authorized 50,000,000 shares issued
and outstanding at June 30, 1999
2,500,000 shares $2,500.00
Additional Paid In Capital $ -0-
Deficit Accumulated During
Development Stage ($9,365.00)
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY ($6,865.00)
See accompanying notes to financial statements.
<PAGE> 3
ASTIR, INC.
(A Development Stage Company)
STATEMENTS OF OPERATIONS
Jan. 1, 1999 Sept. 21, 1993
to June 30, 1999 (inception)
to June 30, 1999
INCOME
Revenue $ -0- $ -0-
TOTAL INCOME $ -0- $ -0-
EXPENSES
General and
Administrative $ 500.00 $ 9,365.00
TOTAL EXPENSES $ 500.00 $ 9,635.00
NET PROFIT (LOSS) ($ 500.00) ($ 9,635.00)
NET PROFIT (LOSS)
PER SHARE ($ 0.0002) ($ 0.0039)
AVERAGE NUMBER OF
SHARES OF COMMON
STOCK OUTSTANDING 2,500,000 2,500,000
See accompanying notes to financial statements.
<PAGE> 4
ASTIR, INC.
(A Development Stage Company)
STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
June 30, 1999
Common Stock (Deficit)
Accumulated
Number Additional During
of Paid In Development
Shares Amount Capital Stage
Balance
December 31, 1997 2,500,000 $2,500 $ -0- ($2,500)
Net (loss) year ended
December 31, 1998 ($6,365)
Balance
December 31, 1998 2,500,000 $2,500 $ -0- ($8,865)
Net (loss) six months
ended June 30, 1999 ($ 500)
Balance
June 30, 1999 2,500,000 $2,500 $ -0- ($9,365)
See accompanying notes to financial statements.
<PAGE> 5
ASTIR, INC.
(A Development Stage Company)
STATEMENT OF CASH FLOWS
January 1, 1999 Sept. 21, 1993
to June 30, 1999 (inception) to
June 30, 1999
CASH FLOWS FROM
OPERATING ACTIVITIES
Net (Loss) ($ 500.00) ($9,635.00)
Adjustment to
reconcile net (loss) to
net cash provided by
operating activities:
Increase in officers
advances $ -0- $7,265.00
Net cash provided by
operations ($ 500.00) ($2,370.00)
CASH FLOWS FROM
INVESTING ACTIVITIES $ -0- $ -0-
CASH FLOWS FROM
FINANCING ACTIVITIES
Issue common stock $ -0- $2,500.00
Net increase in cash $ 500.00 $ 800.00
Cash, Beginning of Period $ 900.00 $ -0-
Cash, Ending of Period $ 400.00 $ 800.00
See accompanying notes to fiancial statements.
<PAGE> 6
ASTIR, INC.
(A Development Stage Company)
NOTES'TO FINANCIAL STATEMENTS
June 30, 1999
NOTE 1 - HISTORY AND ORGANIZATION OF THE COMPANY
The Company was organized in September 21, 1993 under the laws
of the State of Nevada. The Company currently has no operations
and, in accordance with SFAS V, is considered a development stage
company. On October 20, 1993 the Company issued 2,500,000 shares
of $0.001 par value common stock for $2,500 in cash. on July 22,
1998 the State of Nevada approved the Company's restated Articles
of Incorporation, which increased its capitalization from
3,000,000 common shares to 50,000,000 common shares. The par
value of the common stock was unchanged at $0.001 per share.
NOTE 2 - ACCOUNTING POLICIES AND PROCEDURES
The Company has not determined its accounting policies and
procedures, except as follows:
(A) The Company uses the accrual method of accounting.
(B) Earnings or loss per share is calculated using the number of
shares of common stock outstanding as of the balance sheet date.
(C) The Company has not yet adopted any policy regarding payment
of dividends. No dividends have been paid since inception.
NOTE 3 - GOING CONCERN
The Company's financial statements are prepared using the
generally accepted accounting principles applicable to a going
concern. However, the Company has no current source of revenue.
Without realization of acyitional capital, it would be unlikely
for the Company to contirl&e as a going concern. It is
management's plan to seek additional capital to keep the Company
operating.
NOTE 4 - WARRANTS AND OPTIONS
There are no warrants or options outstanding to acquire any
additional shares of common stock.
<PAGE> 7
ASTIR, INC.
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
June 30, 1999
NOTE 5 - RELATED PARTY TRANSACTIONS
The Company neither owns or leases any real or personal property.
office services are provided without charge by a director. Such
costs are immaterial to the financial statements and are not
reflected. The officers and directors of the Company are involved
in other business opportunities and may, in the future, become
involved in another business opportunity. If a specific business
opportunity becomes available, such persons may face a conflict
in selecting between the Company and their other business
interests. The Company has not formulated a policy for the
resolution of such conflicts.
NOTE 6 - OFFICERS ADVANCES
While the Company is seeking additional capital through a merger
with an existing operating company, an officer of the Company has
advanced funds on behalf of the Company to pay for costs incurred
by A These funds are interest free.
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.
Astir, Inc.
Dated: May 15, 1999 By: /s/ Jorge Melgar, President
Jorge Melgar, President
