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.: 000-26045
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 X No .
At the end of the quarter ending March 31, 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. Total number of
pages, including cover page 4.
PART I. FINANCIAL INFORMATION
Item 1. FINANCIAL STATEMENTS Reference
Exhibit A
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.
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:
(1) Financial Statements as of March 31, 1999 as
prepared by the Company
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 11, 1999 By: /S/ Jorge Melgar
Jorge Melgar, President
ASTIR, INC.
FINANCIAL STATEMENTS
TABLE OF CONTENTS PAGE
INDEPENDENT AUDITORS' REPORT 1
FINANCIAL STATEMENTS
BALANCE SHEET 2
STATEMENT OF OPERATIONS 3
STATEMENT OF STOCKHOLDERS' EQUITY 4
STATEMENT OF CASH FLOWS 5
NOTES TO FINANCIAL STATEMENTS 6-7
KURT D. SALIGER
Certified Public Accountant
INDEPENDENT AUDITORS' REPORT
Board of Directors
Astir, Inc.
Las Vegas, Nevada
I have audited the accompanying balance sheet of Astir, Inc. (a
development stage company), as of December 31, 1998, and March 31,
1999; and the related statements of operations, stockholders' equity
and cash flows for the periods 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 December 31, 1998 and March 31,
1999 the results of its operations and its cash flows for the periods
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 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.
Kurt D. Saliger C.P.A.
May 03, 1999
/
/S/ Kurt D. Saliger
Kurt D. Saliger
Certified Public Accountant
ASTIR
(A Development Stage Company)
BALANCE SHEET
March 31,
1999
December
31, 1998
ASSETS
CURRENT ASSETS:
Cash
$800
$900
TOTAL CURRENT ASSETS
$ 800
$900
TOTAL ASSETS
$800
$900
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Officers Advances
$7,265
$7,265
TOTAL CURRENT LIABILITIES
$7,265
$7,265
LONG-TERM DEBT
$0
$0
STOCKHOLDERS' EQUITY:
Preferred stock, par value, $.001 authorized
50,000,000 shares issued and outstanding at
December 31, 1998 and outstanding at March
31, 1999 2,500,000 shares
$2,500
$2,500
Additional paid in Capital
$0
$0
Deficit Accumulated During Development
($8,965)
($8,865)
TOTAL STOCKHOLDERS' EQUITY
($6,465)
($6,365)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
$800
$900
See accompanying notes to financial statements & audit report
ASTIR, INC.
(A Development Stage Company)
STATEMENT OF OPERATIONS
Jan 1, 1999
to March
31, 1999
Jan. 1, 1998
to December
31,1998
Sept. 21,
1993
(inception)
to March
31, 1999
INCOME:
Revenue
$ 0
$ 0
$ 0
TOTAL INCOME
$0
$0
$0
EXPENSES
General, Selling and
Administrative
$ 100
$6,365
$8,965
TOTAL EXPENSES
$100
$6,365
$8,965
Net Profit/Loss(-)
($100)
($6,365)
($8,965)
Net Profit/Loss(-) per
share
($0.0000)
($0.0025)
($0.0036)
Average number of common
shares outstanding
2,500,000
2,500,000
2,500,000
See accompanying notes to financial statements & audit report
ASTIR, INC.
(A Development Stage Company)
STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
Common
Shares
Stock
Amount
Additional
paid-in
capital
Accumulated
Deficit
Balance, December
31, 1997
2,500,000
$2,500
0
($2,500)
Net Income/ Loss
year ended December
31, 1998
$(6,365)
Balance, December
31, 1998
2,500,000
$2,500
$0
($8,865)
Net (loss) three
months ended March
31, 1999
($100)
Balance March 31,
1999
2,500,000
$2,500
$0
($8,965)
See accompanying notes to financial statements & audit report
ASTIR, INC.
(A Development Stage Company)
STATEMENT OF CASH FLOWS
Jan. 1, 1999
to March 31,
1999
Jan.1, 1998
to December
31, 1998
Sept. 21,
1993
(inception)
to March 31,
1999
Cash Flows from Operating
Activities:
Net Loss
($100)
($6,365)
($8,965)
Adjustment to reconcile
net loss to net cash
provided by operating
activities:
Increase in officers
advances
$0
$7,265
$7,265
Net Cash provided by
operations
($100)
$900
($1,700)
Cash flows from investing
activities
$0
$0
$0
Cash Flows from financing
activities
Issue Common Stock
$0
$0
$2,500
Net increase in cash
($100)
$900
$800
Cash, Beginning of Period
$900
$0
$0
Cash, Ending of Period
$800
$900
$800
See accompanying notes to financial statements & audit report
ASTIR, INC.
A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
December 31, 1998 AND March, 31, 1999
NOTE 1 - HISTORY AND ORGANIZATION OF THE COMPANY
The Company was organized September 21, 1993, under laws of the State
of Nevada. The company currently has no operations and, in
accordance SFAS #7, 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. The par value of the common
stock was unchanged at $0.001 per share.
NOTE 2 - ACCOUNTING POLICIES AND PROCEDURES
Accounting Method
The Company has not determined its accounting policies and
procedures, except as follows:
The Company uses the accrual method of accounting.
Earnings or loss per share is calculated using the number of shares
of common stock outstanding as of the balance sheet date.
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 additional capital, it would be unlikely for the
Company to continue 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.
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 the 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 it.
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 11, 1999 By: /S/ Jorge Melgar
Jorge Melgar, President
B:\10FINAL.10K
