<PAGE>
U. S. Securities and Exchange Commission
Washington, D. C. 20549
FORM 10-QSB
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended July 31, 2000
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from to
-------------- ---------------
Commission File No. 333-75297
R & R RANCHING, INC.
--------------------
(Name of Small Business Issuer in its Charter)
NEVADA 87-0616524
------ ----------
(State or Other Jurisdiction of (I.R.S. Employer I.D. No.)
incorporation or organization)
899 South Artistic Circle
Springville, Utah 84663
-----------------------
(Address of Principal Executive Offices)
Issuer's Telephone Number: (801) 489-3238
Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Sections 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.
(1) Yes X No (2) Yes X No
--- --- --- ---
<PAGE>
APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDINGS DURING THE PRECEDING FIVE YEARS
Not applicable.
APPLICABLE ONLY TO CORPORATE ISSUERS
Indicate the number of shares outstanding of each of the Registrant's classes
of common stock, as of the latest practicable date:
July 31, 2000
1,100,000
---------
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements.
The Financial Statements of the Registrant required to be filed with
this 10-QSB Quarterly Report were prepared by management, and commence on the
following page, together with Related Notes. In the opinion of management,
the Financial Statements fairly present the financial condition of the
Registrant.
<PAGE>
R & R RANCHING, INC.
[A Development Stage Company]
UNAUDITED CONDENSED FINANCIAL STATEMENTS
JULY 31, 2000
<PAGE>
R & R RANCHING, INC.
[A Development Stage Company]
CONTENTS
PAGE
Unaudited Condensed Balance Sheets, July 31, 2000 and
October 31, 1999 1
Unaudited Condensed Statements of Operations, for the three
months and nine months ended July 31, 2000 and 1999
and from inception on August 3, 1998 through
July 31, 2000 2
Unaudited Condensed Statements of Cash Flows, for
the nine months ended July 31, 2000 and 1999 and from
inception on August 3, 1998 through July 31, 2000 3 - 4
Notes to Unaudited Condensed Financial Statements 5 - 9
<PAGE>
<TABLE>
R & R RANCHING, INC.
[A Development Stage Company]
CONDENSED BALANCE SHEETS
[Unaudited]
ASSETS
<CAPTION>
<S> <C> <C>
July 31, October 31,
2000 1999
_________ _________
CURRENT ASSETS:
Cash in bank $ 26,283 $ 4,010
_________ _________
Total Current Assets 26,283 4,010
PROPERTY BISON, net 90,200 85,675
DEFERRED STOCK OFFERING COSTS - 12,330
_________ _________
$ 116,483 $ 102,015
__________ __________
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $ 2,370 $ 11,707
Accounts payable related party 2,125 2,851
Interest payable related party - 5,542
Notes payable related party - 70,000
_________ _________
Total Current Liabilities 4,495 90,100
_________ _________
STOCKHOLDERS' EQUITY:
Preferred stock, $.001 par value
10,000,000 shares authorized,
no shares issued and outstanding - -
Common stock, $.001 par value,
50,000,000 shares authorized,
1,100,000 and 1,000,000 shares
issued and outstanding, respectively 1,100 1,000
Capital in excess of par value 136,570 24,000
Deficit accumulated during the
development stage (25,682) (13,085)
_________ _________
Total Stockholders' Equity 111,988 11,915
_________ _________
$ 116,483 $ 102,015
__________ __________
</TABLE>
Note: The balance sheet at October 31, 1999 was taken from the audited
financial statements at the date and condensed.
The accompanying notes are an integral part of this unaudited financial
statement.
<TABLE>
R & R RANCHING, INC.
[A Development Stage Company]
CONDENSED STATEMENTS OF OPERATIONS
[Unaudited]
<CAPTION>
For the Three For the Nine From Inception
Months Ended Months Ended on August 3,
July 31, July 31, 1998 Through
________________________________ July 31,
2000 1999 2000 1999 2000
_______ _______ _______ _______ ____________
<S> <C> <C> <C> <C> <C>
REVENUE $ - $ - $ 14,450 $ - $ 14,450
_______ _______ _______ _______ ____________
EXPENSES:
Bison Operating Expenses 513 529 12,042 1,646 13,717
General & Administrative 3,205 1,143 12,818 3,586 18,685
_______ _______ _______ _______ ____________
Total Expenses 3,718 1,672 24,860 5,232 32,402
_______ _______ _______ _______ ____________
LOSS BEFORE OTHER
EXPENSE: (3,718) (1,672) (10,410) (5,232) (17,952)
OTHER EXPENSE:
Interest Expense - 1,750 2,188 3,733 7,730
_______ _______ _______ _______ ____________
LOSS BEFORE INCOME
TAXES (3,718) (3,472) (12,598) (8,956) (25,682)
CURRENT TAX EXPENSE - - - - -
DEFERRED TAX EXPENSE - - - - -
_______ _______ _______ _______ ____________
NET LOSS $ (3,718) $(3,472)$(12,598)$(8,965) $ (25,682)
________ ________ ________ _______ ____________
LOSS PER COMMON
SHARE $ (.00) $ (.00)$ (.01)$ (.01) $ (.03)
________ ________ ________ _______ ____________
</TABLE>
The accompanying notes are an integral part of these unaudited condensed
financial statements.
<TABLE>
R & R RANCHING, INC.
[A Development Stage Company]
CONDENSED STATEMENTS OF CASH FLOWS
Increase (Decrease) in Cash and Cash Equivalents
[Unaudited]
<CAPTION>
For the Nine From Inception
Months Ended on August 3,
July 31, 1998 Through
________________ July 31,
2000 1999 2000
_______ _______ ____________
<S> <C> <C> <C>
Cash Flows from Operating Activities:
Net loss $ (12,598) $ (8,965) $ (25,682)
Adjustments to reconcile net loss to net
cash used in operating activities:
Write-off of organization costs - 475 475
Depreciation and amortization - - 25
Changes in assets and liabilities:
(Increase) in bison calves (4,524) (700) (6,200)
Increase (decrease) in accounts payable (9,337) 4,259 2,370
Increase (decrease) in accounts payable
related party (726) 1,751 2,125
Increase (decrease) in interest payable
related party (5,542) 3,733 -
_______ _______ ____________
Net Cash Provided (Used) by Operating
Activities (32,727) 553 (26,887)
_______ _______ ____________
Cash Flows from Investing Activities:
Payment of organization costs - - (500)
Purchase of bison - (84,000) (84,000)
_______ _______ ____________
Net Cash (Used) in Investing Activities - (84,000) (84,500)
_______ _______ ____________
Cash Flows from Financing Activities:
Proceeds from of note payable related party - 70,000 70,000
Payment on note payable (70,000) - (70,000)
Proceeds from common stock issuance 125,000 4,196 150,000
Payment of stock offering costs - (7,521) (12,330)
_______ _______ ____________
Net Cash Provided by Financing Activities 55,000 66,675 137,670
_______ _______ ____________
Net Increase (Decrease) in Cash and Cash
Equivalents 22,273 (16,772) 26,283
Cash at Beginning of Period 4,010 20,782 -
_______ _______ ____________
Cash at End of Period $ 26,283 $ 4,010 $ 26,283
________ ________ ____________
<PAGE>
[Continued]
</TABLE>
<TABLE>
R & R RANCHING, INC.
[A Development Stage Company]
CONDENSED STATEMENTS OF CASH FLOWS
Increase (Decrease) in Cash and Cash Equivalents
[Unaudited]
<CAPTION>
For the Nine From Inception
Months Ended on August 3,
July 31, 1998 Through
________________ July 31,
2000 1999 2000
_______ _______ ____________
<S> <C> <C> <C>
Supplemental Disclosures of Cash Flow information:
Cash paid during the period for:
Interest $ 7,730 $ - $ 7,730
Income taxes $ - $ - $ -
Supplemental schedule of Noncash Investing and Financing Activities:
For the period ended July 31, 2000:
None
</TABLE>
The accompanying notes are an integral part of these condensed financial
statements.
<PAGE>
R & R RANCHING, INC.
[A Development Stage Company]
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Organization R & R Ranching, Inc. (the Company) was organized under the
laws of the State of Nevada on August 3, 1998. The Company is considered
a development stage company as defined in Statement of Financial
Accounting Standards (SFAS) No. 7. The Company is engaged in the
business of breeding and raising bison. The Company at the present time,
has not paid any dividends and any dividends that may be paid in the
future will depend upon the financial requirements of the Company and
other relevant factors.
Property - Bison Inventory consists of bison which are being held for
breeding purposes. The bison are recorded at the lower of cost or market
value [See Note 2].
Organization Costs Organization costs of $500, which reflect amounts
expended to organize the Company, were expensed during 1999 in accordance
with Statement of Position 98-5.
Loss Per Share The Company accounts for loss per share in accordance
with Statement of Financial Accounting Standards (SFAS) No. 128 "Earnings
Per Share". This statement requires the Company to present basic
earnings per share and dilutive earnings per share when the effect is
dilutive [See Note 6].
Income Taxes The Company accounts for income taxes in accordance with
Statement of Financial Accounting Standards No. 109 "Accounting for
Income Taxes". This statement requires an asset and liability approach
for accounting for income taxes [See Note 7].
Recently Enacted Accounting Standards Statement of Financial Accounting
Standards No. 135. "Rescission of FASB Statement No. 75 and Technical
Corrections", SFAS No. 136, "Transfers of Assets to a not for profit
organization or charitable trust that raises or holds contributions for
others", and SFAS No. 137, "Accounting for Derivative Instruments and
Hedging Activities deferral of the effective date of FASB statement No.
133 ( an amendment of FASB Statement No. 133.)," were recently issued.
SFAS No. 135, 136 and 137 have no current applicability to the Company or
their effect on the financial statements would not have been significant.
Cash and Cash Equivalents For purposes of the statement of cash flows,
the Company considers all highly liquid debt investments purchased with a
maturity of three months or less to be cash equivalents.
Accounting Estimates The preparation of financial statements in
conformity with generally accepted accounting principles requires
management to make estimates and assumptions that effect the reported
amounts of assets and liabilities, the disclosures of contingent assets
and liabilities at the date of the financial statements, and the reported
amounts of revenues and expenses during the reporting period. Actual
results could differ from those estimated by management.
<PAGE>
R & R RANCHING, INC.
[A Development Stage Company]
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Continued]
Condensed Financial Statements - The accompanying financial statements
have been prepared by the Company without audit. In the opinion of
management, all adjustments (which include only normal recurring
adjustments) necessary to present fairly the financial position,
results of operations and cash flows at July 31, 2000 and 1999 and for
the periods then ended have been made.
Certain information and footnote disclosures normally included in
financial statements prepared in accordance with generally accepted
accounting principles have been condensed or omitted. It is suggested
that these condensed financial statements be read in conjunction with
the financial statements and notes thereto included in the Company's
October 31, 1999 audited financial statements. The results of
operations for the periods ended July 31, 2000 are not necessarily
indicative of the operating results for the full year.
NOTE 2 BISON
Bison that are purchased for breeding are recorded at cost and
depreciated over their useful lives (15 years), using the straight-line
method. If a bison dies or is sold the full remaining amount is
expensed.
Bison that are internally developed are recorded by capitalizing one
year's depreciation of the mother and all direct development costs
until the bison have reached maturity and have been selected for
breeding or other productive purposes. At the point of maturity, the
bison are depreciated over their estimated useful lives of 15 years.
If the bison are sold, the costs are charged to costs of goods sold.
During the nine months ended July 2000, operating costs related to the
bison calves in the amount of $1,465 and $6,178 in depreciation was
capitalized. The Company also sold 20 calves for $14,450 and purchased
5 additional cows for $10,838.
The following is a summary of bison as of July 31, 2000:
Accumulated
Quantity Cost Additions Depreciation Net
_____________________________________________________
Breeding Stock 25 $ 84,000 10,838 $(11,778) $83,060
Calves 24 - 7,140 - 7,140
_____________________________________________________
Total Bison 49 $ 84,000 17,978 $(11,778) $90,200
_____________________________________________________
NOTE 3 RELATED PARTY TRANSACTIONS
Bison Care and Management Agreement - During December, 1998 the Company
entered into an agreement with Blue Sky Bison Ranch, Ltd., of Carvel,
Alberta, Canada ("Blue Sky") under which Blue Sky would house, feed,
manage and market the Company's bison for a period of one year commencing
January 1, 1999. The agreement provides for the Company to pay a monthly
management fee of $500 (Canadian) which is approximately $335 US and 25%
of the proceed from the sale of calves The agreement has been amended
such that Blue Sky can receive some of the calves in lieu of the monthly
management fee, the number of calves is to be determined by the Company's
management. Blue Sky's president, director and controlling shareholder is
the father of the Company's President and controlling shareholder. At
July 31, 2000 the Company owed management fees of $2,125.
<PAGE>
R & R RANCHING, INC.
[A Development Stage Company]
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS
NOTE 3 RELATED PARTY TRANSACTIONS [CONTINUE]
Convertible Notes Payable During January, 1999, the Company borrowed
$70,000 from Libco Equities, Inc., a corporation organized under the laws
of the Province of Alberta, Canada ("Libco"). The loan is due on demand
and provides for interest at 10% per annum. The President and sole
shareholder of the Company is also the President, director and controlling
shareholder of Libco. Accrued interest amounted to $7,730 at January 31,
2000. The note payable with its related accrued interest was paid in
February 2000.
Management Compensation - The Company has not paid any compensation to its
officers and directors.
Office Space - The Company has not had a need to rent office space. An
officer/shareholder of the Company is allowing the Company to use his
office as a mailing address, as needed, at no expense to the Company.
NOTE 4 - CAPITAL STOCK
Preferred Stock The Company has authorized 10,000,000 shares of
preferred stock, $.001 par value, with such rights, preferences and
designations and to be issued in such series as determined by the Board of
Directors. No shares are issued and outstanding at July 31, 2000.
Common Stock During the period ended October 31, 1998, the Company
issued 1,000,000 shares of its previously authorized, but unissued common
stock for cash of $20,804 and a stock subscription receivable of $4,196.
The stock subscription receivable was paid in full during November, 1998.
Public Offering of Common Stock - During the six months ended July 31,
2000, the Company completed a public stock offering and issued 100,000
shares of its previously authorized, but unissued common stock and related
A and B warrants for cash of $125,000, net of $12,330 in deferred offering
costs. The Company filed a registration statement with the United States
Securities and Exchange Commission on Form SB-2 under the Securities Act
of 1933. The offering consisted of 100,000 units consisting of a total of
100,000 shares of common stock, 100,000 A warrants and 100,000 B warrants.
Each A warrant allows the holder to purchase one share of common stock at
a price of $2.50. Each B warrant allows the holder to purchase one share
of common stock at a price of $5.00. The warrants are subject to
adjustment in certain events and are exercisable for a period of five
years from the date of the offering. The Company may call the warrants at
their exercise price on 30 days notice at any time after issuance and
prior to the expiration date of the warrants. The warrants may only be
exercised or redeemed if a current prospectus is in effect.
Stock Option Plan - On August 10, 1998, the Board of Directors of the
Company adopted and the stockholders at that time approved, the 1998 Stock
Option Plan. The plan provides for the granting of awards of up to
1,000,000 shares of common stock to sales representatives, officers,
directors, consultants and employees. The awards can consist of stock
options, restricted stock awards, deferred stock awards, stock
appreciation rights and other stock-based awards as described in the plan.
Awards under the plan will be granted as determined by the board of
directors. As of July 31, 2000, no awards have been granted under the
plan.
<PAGE>
R & R RANCHING, INC.
[A Development Stage Company]
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS
NOTE 4 - CAPITAL STOCK [Continued]
Common Stock Split During March, 1999 the Company effected a forward
split of its issued and outstanding common stock on the basis of two
shares issued for each one share previously issued. There were 500,000
shares of common stock issued and outstanding immediately prior to the
split and 1,000,000 shares of common stock issued and outstanding
immediately after the split. There was no change in the number of
authorized common shares or the par value of common shares. The financial
statements for all periods presented have been restated to reflect the
stock split.
NOTE 6 LOSS PER SHARE
The following data show the amounts used in computing loss per share and
the effect on income and the weighted average number of shares for the
periods ended
For the Three For the Nine From Inception
Months Ended Months Ended on August 3,
July 31, July 31, 1998 Through
____________________________ July 31,
2000 1999 2000 1999 2000
________________________________________
(Loss) from continuing operations
applicable to common stock
(numerator) $(3,718) $(3,472) $(12,598)$ (8,965)$(25,682)
________ ________ ________ ________ _________
Weighted average number of
common shares outstanding
used in (loss) per share during
the period (denominator) 1,100,000 1,000,000 1,094,319 1,000,000 770,445
_________ _________ _________ _________ _______
<PAGE>
R & R RANCHING, INC.
[A Development Stage Company]
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS
NOTE 7 - INCOME TAXES
The Company accounts for income taxes in accordance with Statement of
Financial Accounting Standards No. 109 "Accounting for Income Taxes".
FASB 109 requires the Company to provide a net deferred tax
asset/liability equal to the expected future tax benefit/expense of
temporary reporting differences between book and tax accounting methods
and any available operating loss or tax credit carryforwards. At July 31,
2000, the Company has available unused operating loss carryforwards of
approximately $25,000, which may be applied against future taxable income
and which expire in various years through 2020.
The amount of and ultimate realization of the benefits from the operating
loss carryforwards for income tax purposes is dependent, in part, upon the
tax laws in effect, the future earnings of the Company, and other future
events, the effects of which cannot be determined. Because of the
uncertainty surrounding the realization of the loss carryforwards the
Company has established a valuation allowance equal to the tax effect of
the loss carryforwards and, therefore, no deferred tax asset has been
recognized for the loss carryforwards. The net deferred tax assets are
approximately $8,000 as of July 31, 2000, with an offsetting valuation
allowance of the same amount resulting in a change in the valuation
allowance of approximately $3,600 during the six month period ended July
31, 2000.
<PAGE>
Item 2. Management's Discussion and Analysis or Plan of Operation.
--------------------------------------------------------------------
Plan of Operation.
------------------
R & R Ranching's plan of operation for the next 12 months is to
continue operating under its management agreement with Blue Sky Bison. Each
of the 20 cows purchased in 1999 has been retained and bred and should deliver
a calf during the 2000 calving season. It appears that all 20 cows have been
bred; however, R & R Ranching will not be able to know precisely the number of
cows that will calve until after the 2000 season.
Because all of R & R Ranching's cows are young (about three to
five years old), management hopes that it will not have to use many of its
heifer calves to replace cows. This would allow R & R Ranching to sell almost
all of its heifer calves while its cows are in their breeding prime. However,
many factors, including illness and death of its existing cows, could force R
& R Ranching to keep some of its annual heifer calf crop; this would have a
negative effect on revenues because the replacement heifers would not be made
available for sale.
Most bison operations breed bulls at the rate of about one bull to
10 cows. Because the cows that it received under the Purchase Agreement were
already pregnant, breeding bulls will not be used until the 1999 fall breeding
season. The Management Agreement provides for Blue Sky to supply bulls for
breeding, so R & R Ranching will not require breeding bulls of its own until
it moves its operations to its own location as discussed below. Once this
occurs, R & R Ranching will keep about one bull for every 10 cows, to be bred
for two years. R & R Ranching will have to keep replacement bulls from its
own herd (or purchase them, on a regular basis) in order to ensure genetic
diversity and avoid inbreeding.
Bison ranches commonly keep bulls and cows together and let nature
dictate the breeding season. Most breeding occurs in July and August, with a
275 day gestation period. R & R Ranching will breed its 20 cows during each
cow's normal cycle during the months of July and August.
R & R Ranching will continue to pay Blue Sky $500 (Canadian)
(approximately $US 335) per month under the management agreement, and will pay
to Blue Sky one-fourth (1/4) of the proceeds from the sales of its bulls and
heifers for each year that a management agreement is in force. In exchange,
Blue Sky will provide grazing of the herd, winter feeding, veterinary care,
handling, identification tagging and records maintenance, and provision of
breeding bulls (at the rate of one bull per 20 cows). With additional feed
expenses and reimbursement of out-of-pocket expenses of its directors and
officers, R & R Ranching expects annual costs of operation in 2000 to equal
approximately $6,500.
Management estimates that it will cost approximately $500 to raise
a calf to the point where it is weaned and ready for sale. This figure
includes the payment of one-fourth of sales proceeds to Blue Sky as discussed
above. The current price range for weaned heifer calves is about $600 to
$1,000; for weaned bulls it is $600 to $800. Therefore, R & R Ranching
expects to make a profit of $100 to $500 per heifer calf and $100 to $300 per
bull calf. These figures depend on many factors, including for example:
a calf crop of 90%;
lack of factors that would complicate pregnancy and birth
(e.g., unusually harsh weather, brucellosis and other
diseases, inferior genetic stock); and
stability of feed and bison prices.
If any one of these factors changes, R & R Ranching's
profitability could decrease significantly.
During the next 12 months, management plans to begin searching for
a suitable 1/4 section (160 acres) property to lease for its operations.
Management intends to limit its search to the Province of Alberta, Canada, and
will try to locate a full section (640 acres), with W. Malcolm C. Davidson,
William R. Davidson's father, to lease three quarters and R & R Ranching to
lease one quarter. R & R Ranching is still in the process of reviewing
potential sites that would permit a joint operation with Blue Sky. We are
currently considering several options that would permit movement of the bison
cows after the 2000 weaning season.
If R & R Ranching is successful in its property search, it will
have to transport the herd to the new facility, hire herd management personnel
and begin paying directly for all costs that are currently covered by the
management agreement. R & R Ranching would also be responsible for the
purchase or lease of its own handling facilities (pens and chutes for
restraining animals during breeding, veterinary treatment and transportation).
Management believes that by locating R & R Ranching's herd next to W. Malcolm
C. Davidson's herd, both parties will be able to share handling facilities and
reduce expenses. However, there is no formal agreement between the parties in
this regard and it is possible that R & R Ranching may have to purchase
handling facilities of its own. These facilities typically cost from $2,000
to $2,500. R & R Ranching will have to obtain them with operating revenues or
through additional debt or equity funding if handling facilities become
necessary in the next 12 months. R & R Ranching can provide no assurance that
it will have enough money to acquire these facilities.
Management expects that it will hire one person to operate its
ranch once it has located a suitable property. The standard rate for ranch
workers in Alberta is approximately $10 to $12 (Canadian) (approximately US$
6.70 to US$ 8.04) per hour. R & R Ranching believes that the labor pool in
Alberta is large enough that it will not have difficulty finding a suitable
worker.
During the next 12 months, R & R Ranching will be able to meet its
current operating expenses from anticipated bison sales. However, management
expects that the net proceeds from its recently completed public offering will
be necessary in order to lease and fence its ranch.
Results of Operations.
----------------------
During the quarterly period ended July 31, 2000, the Registrant
received total revenues of $0 and sustained a net loss of ($3,718).
It appears that at least 24 of R & R Ranching's 25 cows have calved
as of July 31, 2000. However, an accurate inventory can not be made until all
of the calves are weaned in the fall of 2000.
Liquidity.
----------
During the quarterly period ended July 31, 2000, the Registrant
had total expenses of $3,718, while receiving no revenues. At July 31, 2000,
the Registrant had total assets of $116,483, of which $26,283 consisted of
cash.
During the next 12 months, the Registrant will be able to meet its
current operating expenses from anticipated bison sales.
PART II - OTHER INFORMATION
Item 1. Legal Proceedings.
----------------------------
None; not applicable.
Item 2. Changes in Securities.
--------------------------------
None; not applicable.
Item 3. Defaults Upon Senior Securities.
------------------------------------------
None; not applicable.
Item 4. Submission of Matters to a Vote of Security Holders.
--------------------------------------------------------------
None; not applicable.
Item 5. Other Information.
----------------------------
None; not applicable.
Item 6. Exhibits and Reports on Form 8-K.
-------------------------------------------
(a) Exhibits.
27 - Financial Data Schedule.
(b) Reports on 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.
R & R RANCHING, INC.
Date: 9-20-00 By: /s/ William R. Davidson
-------------- -------------------------------------
William R. Davidson, President and
Director
Date: 9-20-00 By: /s/ Allyson R. N. Davidson
-------------- -------------------------------------
Allyson R. N. Davidson, Secretary/
Treasurer
