SECURITIES AND EXCHANGE COMMISSION
Washingtion, D.C. 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 is appears in its charter)
NEVADA 88-0306861
(State of jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
8100 W. Sahara, 2nd Floor, Las Vegas, Nevada 89117
(Address of Principal Executive Office) (Zip Code)
Registrant's telephone number, including area code: (702)-732-2253
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 Securties
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 September 30th, 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.
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.
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 as prepared by the
Company
ASTIR, INC.
FINANCIAL STATEMENTS
SEPTEMBER 30,1999
ASTIR, INC.
FINANCIAL STATEMENTS
CONTENTS
Page
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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
INDEPENDENT AUDITOR'S REPORT
Board of Directors
Astir, Inc.
Las Vegas, NV
I have audited the accompanying balance sheets of Astir, Inc. (a
development stage company), as of September 30, 1999 and the related statements
of operations, changes in stockholder's equity and cash flows for the period
then ended. These financial statements are the responsibility of the Company's
management. My responsibilty is to express an opinion on these financials
statements based on my audits.
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
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 September 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 assuming
the Company will continue as a going concern. As discussed in Note 3 to the
financial statement, the Company has had no operations and has no established
source of revenue. This raises substancial doubt about its possiblity 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.
February 25, 2000
ASTIR, INC.
(A Development Stage Company)
BALANCE SHEET
September 30, 1999
ASSETTS
CURRENT ASSETTS $315
Cash _____
TOTAL CURRENT ASSETTS $315
TOTAL ASSETTS $315
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Officers Advances $7,265
_______
TOTAL CURRENT LIABILITIES $7,265
LONG-TERM DEBT $0
STOCKHOLDERS' EQUITY
Common Stock, $.001 par value
authorized 50,000,000 shares issued
and outstanding at September 30, 1999
2,500,000 shares $2,500
Additional Paid In Capital $0
Deficit Accumulated During Development
Stage ($9,450)
___________
TOTAL STOCKHOLDERS' EQUITY ($6,950)
___________
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY $315
__________
See accompanying notes to financial statements.
ASTIR, INC.
(A Development Stage Company)
STATEMENTS AND OPERATIONS
Jan. 1, Sept.21, 1993
1999 to (inception)
Septemeber to September
30,1999 30, 1999
INCOME
Revenue $0 $0
_________ _______
TOTAL INCOME $0 $0
EXPENSES
General and
Administrative $585 $9,450
__________ _______
TOTAL EXPENSES $585 $9,450
NET PROFIT (LOSS) ($585) ($9,450)
__________ _______
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.
ASTIR, INC.
(A Development Stage Company)
STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
September 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, 1999 ($6,365)
_________ _________ __________ __________
Balance December
31, 1998 2,500,000 $2,500 $0 ($8,865)
Net (loss) nine months
ended September 30, 1999 ($585)
________ __________ __________ _________
Balance September
30, 1999 2,500,000 $2,500 $0 ($9,450)
_________ _________ __________ _________
See accompanying notes to financial statements.
ASTIR, INC.
(A Development Stage Company)
STATEMENT OF CASH FLOWS
Jan. 1, Sept. 21, 1993
1999 to (inception)
Sept. 30, to September
1999 30, 1999
CASH FLOWS FROM OPERATING ACTIVITIES
Net (Loss) ($585) ($9,450)
Adjustment to reconcile net
(loss) to net cash provided
by operating activities:
Increase in officers advance $0 $7,265
_______ ________
Net cash provided by
operations ($585) ($2,185)
CASH FLOWS FROM INVESTING ACTIVITIES $0 $0
CASH FLOWS FROM INVESTING ACTIVITIES
Issue common stock $0 $2,500
_______ ________
Net increase in cash ($585) $315
Cash, Beginning of Period $900 $0
_______ ________
Cash, Ending of Period $315 $315
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 #7, is considered a development stage company.
On October 20, 1993 the Company issued 2,500,000 shares of $0.001 par
value of the 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 yet determined its accounting poicies 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 if 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.
NOTE 5 - RELATED PARTY TRANSACTIONS
The Company neither owns or leases any real or personal property.
Officer services are provided without charge by a director. Such costa 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 5 - 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.
