U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-QSB
(Mark One)
(X) Quarterly report pursuant to section 13 or 15(d) of the
SECURITIES AND EXCHANGE ACT OF 1934
For the Quarterly period ended March 31, 2000
( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934 for the transition
period from to
Commission File No. 000-26605
CLARION INTERNET, INC.
- -----------------------------------------------------------------
(Name of Small Business Issuer in its Charter)
Nevada, U.S.A. 33-0860027
(State or other Jurisdiction (IRS Employer
of Incorporation or Organization) Identification No.)
44489 Town Center Way, Suite D487, Palm Desert, California 92260
(Address of Principal Executive Offices)
(760) 674-8859
(Issuer's Telephone Number)
Check whether the issuer (1) filed all reports required to
be filed by section 13 or 15(d) of the Exchange Act during the
past 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.
Yes [X] No [ ]
APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDING DURING THE PRECEDING FIVE YEARS
Check whether the registrant filed all documents and reports
required to be filed by Section 12, 13, or 15(d) of the Exchange
Act after the distribution of Securities under a plan confirmed
by court.
Yes [ ] No [ ]
APPLICABLE ONLY TO CORPORATE ISSUERS
Indicate the number of shares outstanding of each of the
issuers classes of common stock, as of the latest practicable
date: 5,000,000 shares as of March 31, 2000.
<PAGE>
TABLE OF CONTENTS AND INFORMATION REQUIRED IN REPORT
Part I. Financial Information
- -------
Item 1. Financial Statements (unaudited):
Balance Sheet as of March 31, 2000
Statement of Operations for the quarter ended
March 31, 2000
Statements of Cash Flows for the quarter ended
March 31, 2000
Item 2. Managements Discussion and Analysis or Plan of
Operation
Part II. Other Information
- --------
Item 1. Legal Proceedings
Item 2. Changes in Securities
Item 3. Defaults upon Senior Securities
Item 4. Submission of Matters to a Vote of Security holders
Item 5. Other Information
Item 6. Exhibits and reports on form 8-K
SIGNATURES
<PAGE>
PART I
ITEM 1. FINANCIAL STATEMENTS
<TABLE>
CLARION INTERNET, INC.
Balance Sheet
March 31, 2000
<S> <C>
ASSETS
March 31
2000
CURRENT ASSETS:
Cash $ 8,796
----------
TOTAL CURRENT ASSETS $ 8,796
----------
OTHER ASSETS: $ 0
----------
TOTAL OTHER ASSETS $ 0
----------
TOTAL ASSETS $ 8,796
==========
</TABLE>
<PAGE>
<TABLE>
CLARION INTERNET, INC.
Balance Sheet
March 31, 2000
<S> <C>
LIABILITIES AND STOCKHOLDERS' EQUITY
March 31
2000
CURRENT LIABILITIES:
Accounts Payable $ 0
Salaries Payable $ 1,000
TOTAL CURRENT LIABILITIES $ 1,000
--------
STOCKHOLDERS' EQUITY
Common stock, $.00005 par value
Authorized 100,000,000 shares
Issued and Outstanding
5,000,000 shares $ 250
Additional Paid-In Capital $ 44,800
Deficit Accumulated during
Development stage $(37,254)
Total Stockholders' Equity $ 7,796
--------
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY $ 8,796
========
</TABLE>
<PAGE>
<TABLE>
CLARION INTERNET, INC.
Statement of Operations
For three months ended March 31, 2000
<S> <C>
January 1, 2000 to
March 31, 2000
REVENUE:
Revenue from operations $ 0
-------
Total Revenue $ 0
-------
EXPENSES:
Accounting Fees $1,750
Legal Fees 2,722
State Fees 145
Telephone 366
-------
Total Expenses $4,983
-------
Net Income (loss) ($4,983)
=======
</TABLE>
<PAGE>
<TABLE>
CLARION INTERNET, INC.
Statements of Cash Flows
For three months ended March 31, 2000
<S> <C>
For Period of
January 1, 2000 to
March 31, 2000
______________
CASH FLOWS FROM
OPERATING ACTIVITIES:
Net Loss $ (4,983)
Adjustments to reconcile
Net loss to net cash
Provided by operating
Activities.
Common stock issued for
Services $ 0
---------
Changes in assets and
Liabilities:
Increase in current
Assets
Increase in current
liabilities $ 0
Net cash used in
Operating activities $ 0
Cash Flows from
Investing Activities $ 0
Cash Flows from
Financing Activities
Issuance of common
Stock for cash $ 0
---------
Net increase (decrease)
in cash $ 0
Cash,
Beginning of period $ 13,779
---------
Cash,
End of period $ 8,796
=========
</TABLE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF
OPERATION.
(a) Plan of Operation.
During the first quarter of 2000, the Company had no revenue
from operations. At the beginning of the period, the Company had
cash on hand of $13,779, reflecting a net loss of $4,983. The
Company's net loss resulted from expenses for accounting fees,
legal fees, office expense and telephone. As a result, the
Company's Deficit Accumulated During Development Stage increased
from $32,271 to $37,254, during the first quarter of 2000.
Management intends to continue its general operational
strategy by soliciting customers from the greater Coachella
Valley area of the Inland Basin/Palm Springs regions of
California, a region currently under-serviced for purposes of
Internet and electronic commerce applications. This will be
accomplished through print media advertisement and by
word-of-mouth through existing contacts of the two employed
personnel.
The Company has already solicited clients for listing on its
DesertYellowPages.com website, and has received tentative
commitments from some of these businesses to list. The
commitments are in the form of agreements to pay the proposed
fees charged, with a first month's fee assessed upon sign-up, in
addition to a one-time, associated charge for preparation and
setup of the website listing. The Company has chosen not to
collect these charges until the product is prepared and delivered
to the customer, at which time the pre-agreed fees are due and
payable, and the customer's information will be displayed on the
website. None of these customers have been asked to pay as of
March 31, 2000, because the site had not been formalized for
purposes of displaying actual customer listings. Once
DesertYellowPages.com is completed and prepared for commercial
use, then these customers will constitute the initial listing
resource and will provide immediate income for the Company. This
will aid the Company in meeting its revenue goals, and will
establish a cadre of satisfied customers, who should in turn
refer clients to the site.
Based upon the low monthly overhead associated with current
operations, the Company believes that it has sufficient cash on
hand to meet its anticipated needs for working capital, capital
expenditures and business expansion for the next six months of
operations. The Company received revenue from sales during the
month of April, 2000, and expects revenue to increase during the
second and third quarters of 2000.
PART II
ITEM 1. LEGAL PROCEEDINGS
To the best knowledge of the officers and directors of the
Company, neither the Company nor any of its officers or directors
is a party to any material legal proceeding or litigation and
such persons know of no other material legal proceeding or
litigation contemplated or threatened.
ITEM 2. CHANGES IN SECURITIES
None.
ITEM 3. DEFAULTS 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
None.
SIGNATURES
In accordance with Section 12 of the Securities Exchange Act of
1934, the registrant has caused this registration statement to be
signed on its behalf by the undersigned, thereunto duly
authorized.
CLARION INTERNET, INC.
Date: May 11, 2000 By: /s/ Matthew Blansett
Matthew Blansett
President, Secretary, Chairman
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-2000
<PERIOD-END> MAR-31-2000
<CASH> 8796
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 8796
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 8796
<CURRENT-LIABILITIES> 0
<BONDS> 0
0
0
<COMMON> 250
<OTHER-SE> 44800
<TOTAL-LIABILITY-AND-EQUITY> 8796
<SALES> 0
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 4983
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> (4983)
<INCOME-TAX> 0
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (4983)
<EPS-BASIC> (0.001)
<EPS-DILUTED> (0.001)
</TABLE>
