DIMGROUP, INC
(A DEVELOPMENT STAGE COMPANY)
CONSOLIDATED BALANCE SHEET
AS OF MARCH 31, 2000
<TABLE>
ASSETS
<S> <C>
CURRENT ASSETS
Cash $73,937
Total current assets 73,937
PROPERTY AND EQUIPMENT, NET 1,915
$75,852
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable and accrued expenses $14,845
Loans payable 124,430
Loans payable - officers 6,289
Total current liabilities 145,564
LONG-TERM LIABILITIES
Note payable 90,300
STOCKHOLDERS EQUITY
Preferred stock, $.001 par value, 20,000,000
shares authorized, none issued and outstanding 0
Common stock, $.001 par value, 80,000,000
shares authorized, 8,519,800 shares
issued and outstanding 6,413
Additional paid-in capital 0
Deficit accumulated during the development stage (163,256)
Accumulated other comprehensive income:
Currency translation adjustment (3169)
Total stockholders' equity (160,012)
$75,852
</TABLE>
Read the accompanying notes to the Financial statements.
<PAGE>
DIMGROUP, INC
(A DEVELOPMENT STAGE COMPANY)
CONSOLIDATED STATEMENT OF OPERATIONS
THREE MONTHS ENDED MARCH 31, 2000 AND
PERIOD FROM INCEPTION (APRIL 23, 1999)
TO MARCH 31, 2000
<TABLE>
<CAPTION>
THREE MONTHS INCEPTION
ENDED TO MARCH 31
MARCH 31, 2000
2000
___________ ___________
<S> <C> <C>
OPERATING COSTS AND EXPENSES
General and administrative $26,653 $152,651
Depreciation and amortization 171 740
TOTAL 26,824 153,391
OTHER EXPENSES
Interest expense 5,500 9,865
NET (LOSS) (32,324) (163,256)
Other comprehensive income:
Foreign currency translation adjustment (3,125) (3,169)
COMPREHENSIVE (LOSS) (35,449) ($166,425)
PER SHARE INFORMATION (basic and fully diluted)
Weighted average common shares outstanding 17,039,449 17,039,600
(Loss) per share 0 ($0.01)
</TABLE>
Read the accompanying notes to the financial statements.
<PAGE>
DIMGROUP, INC.
(A DEVELOPMENT STAGE COMPANY)
CONSOLIDATED STATEMENT OF CHANGES OF STOCKHOLDERS' EQUITY
PERIOD FROM INCEPTION (APRIL 23, 1999) TO MARCH 31, 2000
<TABLE>
<CAPTION>
Deficit Accumulate Currency
Common Stock Additional During the Translation
Shares Amount Paid in Capital Development Stage Adjustment Total
<S> <C> <C> <C> <C> <C> <C>
Shares issued at inception for cash 15,335,640 $100 $0 $0 $0 $100
Cash capital contributions by shareholders 2,500 2,500
Non cash capital contributions by shareholders 3,774 3,774
Reclassification of paid in capital 6,274 (6,274) 0
Acquisition of the net assets of MAS 1,703,960 39 39
Acquisition Corp VII
Currency translation adjustment (44) (44)
Net (loss) for the period 0 0 0 (130,932) 0 (130,932)
BALANCE - DECEMBER 31, 1999 17,039,600 $6,413 $0 ($130,932) ($44) ($124,563)
CURRENCY TRANSLATION ADJUSTMENT (3,125) (3,125)
NET (LOSS) FOR THE PERIOD (32,324) (32,324)
BALANCE - MARCH 31, 2000 17,039,600 $6,413 $0 ($163,256) ($3,169) ($160,012)
</TABLE>
Read the accompanying notes to the financial statements.
<PAGE>
DIMGROUP, INC
(A DEVELOPMENT STAGE COMPANY)
CONSOLIDATED STATEMENT OF CASH FLOWS
THREE MONTHS ENDED MARCH 31, 2000 AND
PERIOD FROM INCEPTION (APRIL 23, 1999) TO MARCH 31, 2000
<TABLE>
<CAPTION>
THREE MONTHS INCEPTION
ENDED TO MARCH 31
MARCH 31, 2000
2000
___________ ___________
<S> <C> <C>
Cash flow from operations
Net cash (used in) operating activities: $(29,778) $(59,382)
Cash flows from investing activities:
Net cash (used in) investing activities 0 0
Cash flows from financing activities:
Proceeds from loans payable 81,430 129,430
Repayment of loans payable - (5,000)
Proceeds from loans payable - officers - 9,722
Repayment of loans payable - officers - (3,433)
Common stock issued for cash - 100
Capital contributions - 2,500
Net cash provided by financing activities 81,430 133,319
Increase in cash 51,652 73,937
Cash - beginning of period 22,285 0
CASH - END OF PERIOD 73,937 $73,937
</TABLE>
Read the accompanying notes to the financial statements.
<PAGE>
MANAGEMENT'S DISCUSSION
In our Management's Discussion we review our past
performance and, where appropriate, state our expectations
about future activity in forward-looking statements. Our
future results may differ from our expectations.
OVERVIEW
Dimgroup.com (the "Company") is striving to become a leading
web-based provider of comprehensive, timely, original and
trustworthy financial information aimed at helping investors
make informed decisions. The Company currently has a community
of loyal readers who turn to Dimgroup.com for their financial
and investment information. The Company plans to grow this
community and increase the web-based content in order to
maintain a high level of service for its readers. The site
provides investors with extensive and useful financial
information free of charge.
At the present time, the Company issues newsletters weekly to
subscribers, which provide them with an overview of the past
week's market movement and trends. The web site is broken down
into several sections:
1) OTC Section: investors can find information on listing
requirements for companies wanting to apply for Small Cap
Listing, the filing schedule for non reporting companies to
become fully reporting, a complete listing of all OTC stocks,
an address finder and an article from a former market Maker
outlining some of inner workings of OTC MMs. In addition,
dimgroup.com maintains a daily list all the new 10sb filings
submitted by OTC quoted companies to the SEC.
2) Nasdaq Short Positions: Dimgroup.com is one of only a
handful of financial sites that offers a friendly way to
search and retrieve Nasdaq monthly short positions.
3) Tech charts: Free advanced technical charts for most North
American stocks are provided.
4) Premier Articles: A popular section that provides a number
of informative educational essays on advanced topics submitted
by industry professionals and investors. Topics include Market
Maker analysis, Shorting techniques, Stock schemes and more.
5) IPOs: Extensive IPO information including most recent filings
and pricing. Dimgroup.com is developing a financial analysis
program that will provide free financial analysis. Dimgroup.com
is currently testing an extensive message board system that will
provide thousands of message boards for stock followers.
RESULTS OF OPERATIONS
The Company has yet to generate revenue and in view of
the explosive growth of the Internet industry and limited
history of operations, it would be difficult to forecast
revenues. Noting this, comparing quarter-to-quarter results
at this point would not hold much value and makes it
difficult to forecast.
Its operating expenses are mainly attributable to
transfer agent fees, office lease and expenses, telephone
and Internet server. Compared to previous results of
operations the Company has increased its expenses and it
can be expected that future-operating expenses will also
rise with the purchase of new equipment and the need to
upgrade our technology. Noting this, the Company expects
to have Operating losses continue in the near future.
FUTURE OUTLOOK
The Company intends to open up its message boards at
this year at which point it will also have finished the
development of new content. The Company expects its user
base to increase significantly once we complete the above
and commence our sales and marketing campaign. In order to
ensure users are able to access these new services expediently
the Company may have to upgrade its server and hire more staff.
LIQUIDITY AND CAPITAL RESOURCES The Company expects to raise
funds via private placements during the first half of 2000.
Capital contribution from these private placements will be
sufficient to meet its working capital needs at least through
the next twelve months.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the
Securities and Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
Dimgroup.com Inc.
Date: May 12, 2000
By: /s/ Nick Montesano
Nick Montesano
Chief Operating Officer and Director
