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.: 00-26045
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 No
At the end of the quarter ending March 31, 2000 there were 2,500,000 issued and
outstanding shares of the registrants common stock.
There is no active market for the registrant's securities.
PART I. FINANCIAL INFORMATION
Item 1. FINANCIAL STATEMENTS
See attached exhibit
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:
Financial Statements as of March 31, 2000 as prepared by an independent auditor
Board of Directors
Astir, Inc.
Las Vegas, Nevada
KURT D. SALIGER, CPA.
Certified Public Accountant
INDEPENDENT AUDITOR'S REPORT
ASTIR, INC.
FINANCIAL STATEMENTS
MARCH 31, 2000
ASTIR, INC.
FINANCIAL STATEMENTS
CONTENTS
Page
Independent Auditor's Report 1
Financial Statements
Balance Sheet 2
Statement of Operations 3
Statement of Changes in Stockholder's Equity 4
Statement of Cash Flows 5
Notes to Financial Statements 6-7
Kurt D. Saliger, CPA
5000 W. Oakey, Suite A-4
Las Vegas, NV 89146
(702) 367-1988
<TABLE>
ASTIR, INC.
(A DEVELOPMENT STAGE COMPANY)
BALANCE SHEET
MARCH 31, 2000
<CAPTION>
<S> <C>
ASSETS
CURRENT ASSETS
Cash $315
-----
TOTAL CURRENT ASSETS $315
TOTAL ASSETS $315
======
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Officers Advances $7,265
------
TOTAL CURRENT LIABILITIES $7,265
LONG-TERM DEBT $0
STOCKHOLDERS' EQUITY
Common Stock, $0.001 par value
authorized 50,000,000 shares issued
and outstanding at March 31, 2000
2,500,000 $2,500
Additional Paid in Capital $0
Deficit Accumulated During Development $(9,450)
--------
TOTAL STOCKHOLDERS' EQUITY $(6,950)
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY $315
=========
</TABLE>
See accompanying notes to financial statements.
<TABLE>
ASTIR, INC.
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF OPERATIONS
<CAPTION>
<S> <C> <C>
JAN. 1, SEPT. 21, 1993
2000 TO (INCEPTION)
MARCH 31, TO MARCH 31,
2000 2000
--------- ---------------
INCOME
Revenue $0 $0
--------- ---------------
TOTAL INCOME $0 $0
EXPENSES
General and
Administrative $0 $9,450
--------- ---------------
TOTAL EXPENSES $0 $9,450
--------- ---------------
NET PROFIT (LOSS) $0 $9,450
========= ===============
NET PROFIT (LOSS)
PER SHARE $0 $(0.0039)
========= ===============
AVERAGE NUMBER OF
SHARES OF COMMON
STOCK OUTSTANDING 2,500,000 2,500,000
========= ===============
</TABLE>
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
<TABLE>
ASTIR, INC.
(A DEVELOPMENT STAGE COMPANY)
STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
MARCH 31, 2000
<CAPTION>
<S> <C> <C> <C> <C>
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) YEAR ENDED
DECEMBER 31, 1999 ($585)
--------- ------- ---------- ------------
BALANCE DECEMBER
31, 1999 2,500,000 $2,500 $0 ($9,450)
NET (LOSS) THREE MONTHS
ENDED MARCH 31, 2000 $0
--------- ------- ----------- -------------
BALANCE MARCH
31, 2000 2,500,000 $2,500 $0 ($9,450)
========= ======= ============ =============
</TABLE>
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
<TABLE>
ASTIR, INC.
(A DEVELOPMENT STAGE COMPANY)
STATEMENT OF CASH FLOWS
<CAPTION>
JAN. 1 SEPT. 21, 1993
2000 TO (INCEPTION)
MARCH TO MARCH
31, 2000 31, 2000
----------- ---------------
<S> <C> <C>
CASH FLOWS FROM OPERATING ACTIVITIES
NET (LOSS) $0 ($9,450)
ADJUSTMENTS TO RECONCILE NET
(LOSS) TO NET CASH PROVIDED
BY OPERATING ACTIVITIES:
INCREASE IN OFFICERS ADVANCES $0 $7,265
----------- ---------------
NET CASH PROVIDED BY OPERATIONS $0 ($2,185)
----------- ---------------
CASH FLOWS FROM INVESTING ACTIVITIES $0 $0
CASH FLOWS FROM FINANCING ACTIVITIES
Issue common stock $0 $2,500
----------- ---------------
Net increase in cash $0 $315
Cash, Beginning of Period $315 $0
----------- ---------------
Cash, Ending of Period $315 $0
=========== ===============
</TABLE>
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
ASTIR, INC.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS
MARCH 31, 2000
NOTE 1- HISTORY AND ORGANIZATION OF THE COMPANY
THE COMPANY WAS ORGANIZED IN SEPTEMBER 21,1990 UNDER THE LAWS OF THE STATE OF
NEVADA. THE COMPANY CURRENTLY HAS NO OPERATIONS AND, IN ACCORDANCE WITH 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 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 HAS NOT DETERMINED ITS ACCOUNTING POLICIES AND PROCEDURES,
EXCEPT AS FOLLOWS:
B.) EARININGS OR LOSS PER SHARE IS CALULATED 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 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.
ASTIR, INC.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS
MARCH 31, 2000
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
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 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 15, 1999 By: /S/
Jorge Melgar, President
