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Previous: SUPERIOR BANK FSB AFC MORTGAGE LN ASSET BK CERT SER 1999 1, 8-K, 1999-08-30 |
Next: ADVANCE TECHNOLOGIES INC, 10SB12G, 1999-08-30 |
OMB APPROVAL
OMB Number: 3235-0419
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-SB
GENERAL FORM FOR REGISTRATION OF SECURITIES OF SMALL BUSINESS ISSUERS
Under Section 12(b) or (g) of the Securities Exchange Act of 1934
AMERI-CAN RAILWAY SYSTEMS, INCORPORATED
(Name of Small Business Issuer in its charter)
NEW HAMPSHIRE 14-1805077
(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
100 WALNUT STREET - CHAMPLAIN, NEW YORK 12919
(Address of principal executive offices) (Zip Code)
Issuer's telephone number, (518) 298-2042
Securities to be registered under Section 12(b) of the Act:
Title of each class Name of each exchange on which
to be so registered each class is to be registered
COMMON STOCK OTCBB NASDAQ
Securities to be registered under Section 12(g) of the Act:
COMMON STOCK $000.1
____________________________
(Title of class)
____________________________
(Title of class)
<PAGE>
ITEM 15. FINANCIAL STATEMENTS AND EXHIBITS.
27 Financial Data Schedule
99 Additional Exhibits
Financial Statements for Ameri-can Railway Systems, Incorporated.
SIGNATURES
In accordance with Section 12 of the Securities Exchange Act of
1934, the registrant caused this registration statement to be
signed on its behalf by the undersigned, thereunto duly authorized.
Ameri-can Railway Systems, Incorporated
---------------------------------------
(Registrant)
Date June 25, 1999 By /s/ Sydney A. Harland
---------------------------------------
Sydney A. Harland, Chairman,
Chief Executive Officer
(Signature)
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> OTHER
<FISCAL-YEAR-END> JAN-31-1999
<PERIOD-END> JAN-31-1999
<CASH> 10,650
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 10,650
<PP&E> 1
<DEPRECIATION> 0
<TOTAL-ASSETS> 10,651
<CURRENT-LIABILITIES> 63,025
<BONDS> 0
0
0
<COMMON> 973
<OTHER-SE> (53,347)
<TOTAL-LIABILITY-AND-EQUITY> 10,651
<SALES> 0
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 751,778
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> (751,778)
<INCOME-TAX> 0
<INCOME-CONTINUING> (751,778)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (751,778)
<EPS-BASIC> 0
<EPS-DILUTED> 0
</TABLE>
<TABLE>
AMERI-CAN RAILWAY SYSTEMS, INCORPORATED
(A Development Stage Company)
BALANCE SHEET
($US)
ASSETS
<CAPTION>
April 30, 1999
January 31, 1999 (Unaudited)
<S> <C> <C>
CURRENT
Cash in bank $ 10,650 $ 34,600
OTHER ASSETS
Non-compete agreements (Note 5) 1 1
Patents pending (Note 5) 0 0
------------- ----------
------------- ----------
$ 10,651 $ 34,601
============= ==========
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable and accrued liabilities $ 13,025 $11,000
Note payable (Note 3) 50,000 50,000
------------- ----------
63,025 61,000
------------- ----------
COMMITMENTS AND CONTINGENCIES (NOTES 5 AND 6)
STOCKHOLDERS' DEFICIT
Preferred stock, $.0001 par value -
25,000,000 shares authorized; none
outstanding
Common stock - $.0001 par value - 50,000,000
shares authorized; 9,726,489 and 10,010,489
outstanding 973 1,001
Additional paid in capital 698,431 783,928
Deficit - accumulated during the
development stage (751,778) (811,328)
------------- ---------
(52,374) (26,399)
------------- ---------
$ 10,651 $ 34,601
============= =========
See accompanying notes
Approved:
_________________________ Director
</TABLE>
<PAGE>
<TABLE>
AMERI-CAN RAILWAY SYSTEMS, INCORPORATED
(A Development Stage Company)
STATEMENT OF LOSS
($US)
<CAPTION>
From the Inception
From the Inception of Incorporation
of Incorporation Three Months Ended May 4, 1998 to
May 4, 1998 to April 30, 1999 April 30, 1999
January 31, 1999 (Unaudited) (Unaudited)
<S> <C> <C> <C>
SALES $ 0 $ 0 $ 0
------------- ------------ ----------
EXPENSES
Officers' compensation (Note 5) 154,500 51,500 206,000
Professional fees (Notes 3 and 8) 585,436 2,021 587,457
Development expenses 7,856 4,201 12,057
Rent and telecommunications 3,116 1,637 4,753
General 711 77 788
Bank charges 159 114 273
------------- ------------ ----------
TOTAL EXPENSES 751,778 59,550 811,328
------------- ------------ ----------
NET LOSS $ (751,778) $ (59,550) $(811,328)
============= ============ ===========
LOSS PER SHARE (BASIC):
Net loss $ (.09) $ (.01)
============= ============
LOSS PER SHARE (DILUTED):
Net loss $ (.09) $ (.01)
============= ============
WEIGHTED AVERAGE SHARES OUTSTANDING 8,495,239 9,775,198
============ ============
See accompanying notes
</TABLE>
<PAGE>
<TABLE>
AMERI-CAN RAILWAY SYSTEMS, INCORPORATED
(A Development Stage Company)
STATEMENT OF STOCKHOLDERS' DEFICIT (NOTES 5 AND 7)
($US)
<CAPTION>
From Inception of Additional Total
Incorporation May 4, 1998 Common Stock Paid-In Stockholders'
to January 31, 1999 Date Shares Value Capital Deficit Deficit
<S> <C> <C> <C> <C> <C> <C>
Balance - May 4, 1998 0 $ 0 $ 0 $ 0 $ 0
Net loss 0 0 0 (751,778) (751,778)
Common stock for
acquisition of assets of
Ameri-can Equipment
Sales & Leasing Inc.,
valued at $.00 per share 5/11/98 50,000 5 (5) 0 0
Common stock for acquisition
of patents and non-compete
agreement, valued at $.00
per share 5/11/98 4,520,239 452 (452) 0 0
Stock options issued to
officer for 50,000 shares,
valued at $.10 per share 5/20/98 0 0 5,000 0 5,000
Stock options issued to
officer for 115,000 shares,
valued at $.10 per share 5/29/98 0 0 11,500 0 11,500
Common stock sold for
$.001 in cash, valued at
$.10 per share 6/1/98 1,941,250 194 193,931 0 194,125
Exercise of options for
42,250 shares at $.0001 6/1/98 42,250 4 0 0 4
Common stock for lock-up
agreement, valued at $.10
per share 6/1/98 6,500 1 649 0 650
Common stock for service
contracts, valued at $.10
per share 6/1/98 251,250 25 25,100 0 25,125
Common stock sold for
$0.0001 in cash, valued
at $.10 per share 6/20/98 1,915,000 192 191,308 0 191,500
Stock options issued
for 500,000 shares for
consulting services,
valued at $.10 per share 7/1/98 0 0 50,000 0 50,000
Common stock sold for
$0.10 in cash, valued at
$.10 per share 11/25/98 1,000,000 100 99,900 0 100,000
Officers' compensation
contributed to capital 0 0 121,500 0 121,500
----------- -------- -------- --------- --------
Balance - January 31, 1999 9,726,489 $ 973 $698,431 $(751,778) $ (52,374)
=========== ======== ======== ========= =========
</TABLE>
<PAGE>
<TABLE>
AMERI-CAN RAILWAY SYSTEMS, INCORPORATED
(A Development Stage Company)
STATEMENT OF STOCKHOLDERS' DEFICIT (NOTES 5 AND 7) (CONTINUED)
($US)
<CAPTION>
Additional Total
Common Stock Paid-In Stockholders'
Date Shares Value Capital Deficit Deficit
<S> <C> <C> <C> <C> <C> <C>
Three Months Ended April 30, 1999 (Unaudited)
Balance - January 31, 1999 9,726,489 $ 973 $698,431 $(751,778) $ (52,374)
Common stock sold for
$1.00 in cash, valued at
$1.00 per share 3/22/99 2,000 - 2,000 - 2,000
Common stock sold for
$1.00 in cash, valued at
$1.00 per share 3/30/99 5,000 1 4,999 - 5,000
Exercise of options for
250,000 shares at $.0001 4/15/99 250,000 25 - - 25
Common stock sold for
$1.00 in cash, valued at
$1.00 per share 4/21/99 2,000 - 2,000 - 2,000
Common stock sold for
$1.00 in cash, valued at
$1.00 per share 4/28/99 25,000 2 24,998 - 25,000
Officers' compensation
contributed to capital 0 0 51,500 - 51,500
Net loss (unaudited) 0 0 0 (59,550) (59,550)
---------- ------ -------- ---------- --------
Balance - April 30, 1999 (unaudited) 10,010,489 $ 1,001 $783,928 $(811,328) $ (26,399)
========== ====== ======== ========== =========
See accompanying notes
</TABLE>
<PAGE>
<TABLE>
AMERI-CAN RAILWAY SYSTEMS, INCORPORATED
(A Development Stage Company)
STATEMENT OF CASH FLOWS (NOTE 8)
($US)
<CAPTION>
From the Inception
From the Inception of Incorporation
of Incorporation Three Months Ended May 4, 1998 to
May 4, 1998 to April 30, 1999 April 30, 1999
January 31, 1999 (Unaudited) (Unaudited)
<S> <C> <C> <C>
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss $(751,778) $ (59,550) $(811,328)
---------- --------- ----------
Adjustments to reconcile net loss to
net cash (used in) operating activities:
Officers' compensation 154,500 51,500 206,000
Professional fees 492,654 0 492,654
Changes in assets and liabilities:
Increase in other assets (1) 0 (1)
Increase (decrease) in accounts payable
and accrued liabilities 13,025 (2,025) 11,000
---------- --------- ----------
TOTAL ADJUSTMENTS 660,178 49,475 709,653
---------- --------- ----------
NET CASH (USED IN) OPERATING ACTIVITIES (91,600) (10,075) (101,675)
---------- --------- ----------
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the sale of stock 102,250 34,025 136,275
---------- --------- ----------
NET INCREASE IN CASH 10,650 23,950 34,600
CASH AT BEGINNING OF PERIOD 0 10,650 0
---------- --------- ----------
CASH AT THE END OF PERIOD $ 10,650 $ 34,600 $ 34,600
========== ========== ==========
See accompanying notes
</TABLE>
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