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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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 September 30, 2000
Commission file number 0-22245
ALPHACOM CORPORATION
(Exact Name of Small Business Issuer as Specified in Its Charter)
Delaware 98-0206030
(State or Other Jurisdiction of (I.R.S. Employer
Incorporation or Organization) Identification No.)
151 Bloor Street West, Suite 890, Toronto, Ontario Canada M5S-1S4
(Address of Principal Executive Offices)
(416)927-7000
(Issuer's Telephone Number, Including Area Code)
N/A
(Former Name, Former Address and Former Fiscal Year, if Changed
Since Last Report)
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 [ ]
State the number of shares outstanding of each of the issuer's classes
of common equity, as of the latest practicable date: as of November 13, 2000,
11,100,000 shares of Common Stock, par value $0.001 per share, were issued and
outstanding.
Transitional Small Business Disclosure Format (check one):
Yes [ ] No [X]
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Table of Contents
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Page
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Part I. FINANCIAL INFORMATION........................................................1
Item 1. Financial Statements
Balance Sheet as of September 30, 2000 and
September 30, 1999 (Unaudited).....................................2
Statements of Retained Earnings for the
Nine Months and Three Months Ended September 30, 2000 and
September 30, 1999 (Unaudited).....................................3
Statements of Cash Flows for the Nine Months and
Three Months Ended September 30, 2000 and
September 30, 1999 (Unaudited).....................................4
Statements of Operations for the
Nine Months and Three Months Ended September 30, 2000 and
September 30, 1999 (Unaudited).....................................5
Notes to Financial Statements (unaudited)..........................6
Item 2. Management's Discussion and Analysis or Plan of
Operation...... ...................................................7
Part II. OTHER INFORMATION...........................................................7
Item 2. Changes in Securities and Use of Proceeds..........................7
Item 6. Exhibits and Reports on Form 8-K...................................7
Signatures...........................................................................7
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PART I...FINANCIAL INFORMATION
ITEM 1...FINANCIAL STATEMENTS
1
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ALPHACOM CORPORATION
INTERIM BALANCE SHEET
(Unaudited)
SEPTEMBER 30, 2000
ASSETS
<TABLE>
<CAPTION>
2000 1999
---- ----
<S> <C> <C>
Bank $ 504 $ 30,917
Loan Receivable - 4,000
---------- ---------
$ 504 $ 34,917
CAPITAL ASSETS 475 -
---------- ---------
$ 979 $ 34,917
========== =========
LIABILITIES
Accounts Payable and Accrued Liabilities 44,511 12,699
Advances From Parent Company 17,715 3,214
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62,225 15,913
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SHAREHOLDERS' EQUITY
CAPITAL STOCK
Authorized 49,990,000 common shares, par value $0.001
10,000 preferred shares, par value $0.001
Issued 11,100,000 Common Shares 11,000 11,000
Additional Paid in Capital 100,000 100,000
Retained Earnings (Deficit) (172,246) (91,996)
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(61,246) 19,004
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TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 979 $ 34,917
========== =========
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2
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ALPHACOM CORPORATION
INTERIM STATEMENT OF RETAINED EARNINGS (DEFICIT)
(Unaudited)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000
<TABLE>
<CAPTION>
THREE MONTHS ENDED NINE MONTHS ENDED
SEPTEMBER 30 SEPTEMBER 30
------------------- --------------------
2000 1999 2000 1999
---- ---- ---- ----
<S> <C> <C> <C> <C>
Retained Earnings (Deficit), beginning of the period (165,360) (74,802) (125,701) (26,710)
Net Income (loss) for the period (6,886) (17,194) (46,545) (65,286)
--------- -------- ---------- ---------
Retained Earnings (Deficit), end of the period (172,246) (91,996) (172,246) (91,996)
========= ======== ========== =========
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3
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ALPHACOM CORPORATION
INTERIM STATEMENT OF OPERATIONS
(Unaudited)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000
<TABLE>
<CAPTION>
THREE MONTHS ENDED NINE MONTHS ENDED
SEPTEMBER 30 SEPTEMBER 30
---------------------- ------------------------
2000 1999 2000 1999
---- ---- ---- ----
<S> <C> <C> <C> <C>
REVENUE
Sales $ 194,667 $ - $ 194,667 $ -
COST OF SALES
Cost of Sales and Direct Costs 164,223 - 164,223 -
---------- ---------- ---------- ----------
GROSS PROFIT $ 30,444 $ - $ 30,444 $ -
---------- ---------- ---------- ----------
EXPENSES
General and Administrative $ 3,685 $ 2,963 $ 19,789 $ 13,843
Management Services 24,000 - 27,000 30,000
Professional Fees and Shareholder Services 9,645 14,231 30,200 21,443
---------- ---------- ---------- ----------
$ 37,330 $ 17,194 $ 76,989 $ 65,286
---------- ---------- ---------- ----------
NET INCOME (LOSS) BEFORE TAXES (6,886) (17,194) (46,545) (65,286)
Income Taxes
Current ( Recovery ) - - - -
---------- ---------- ---------- ----------
NET INCOME (LOSS) FOR THE PERIOD $ (6,886) $ (17,194) $ (46,545) $ (65,286)
========== ========== ========== ==========
Loss per Shares - Basic $ (0.001) $ (0.002) $ (0.004) $ (0.006)
========== ========== ========== ==========
Earnings per Shares- Fully Diluted $ (0.001) $ (0.002) $ (0.004) $ (0.006)
========== ========== ========== ==========
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4
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ALPHACOM CORPORATION
STATEMENT OF CASH FLOWS
(Unaudited)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000
<TABLE>
<CAPTION>
THREE MONTHS ENDED NINE MONTHS ENDED
SEPTEMBER 30 SEPTEMBER 30
---------------------- ----------------------
2000 1999 2000 1999
---- ---- ---- ----
<S> <C> <C> <C> <C>
OPERATING ACTIVITIES
Net Income (Loss) $ (6,886) $ (17,194) $ (46,545) $ (65,286)
Increase (decrease) in accounts payable 3,679 10,881 18,213 (563)
Prepaid Expenses - - 126 -
--------- ---------- ---------- ----------
(3,207) (6,313) (28,206) (65,849)
--------- ---------- ---------- ----------
INVESTING ACTIVITIES
Increase in Loans Receivable / Payable - - - -
Acquisition of Capital Assets - - (475) -
--------- ---------- ---------- ----------
- - (475) -
--------- ---------- ---------- ----------
FINANCING ACTIVITIES
Issuance of Capital Stock - - - 100,000
Advances To/From Parent Company 250 - 18,501 (3,695)
--------- ---------- ---------- ----------
250 - 18,501 96,305
--------- ---------- ---------- ----------
Change in Cash (Bank Indebtedness) (2,957) (6,313) (10,181) 30,456
Cash - Beginning of period 3,461 37,230 10,685 461
--------- ---------- ---------- ----------
CASH (BANK INDEBTEDNESS) - END OF PERIOD $ 504 $ 30,917 $ 504 $ 30,917
========= ========== ========== ==========
</TABLE>
5
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ALPHACOM CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
SEPTEMBER 30, 2000
1. COMPANY
The company was incorporated under the laws of the State of
Delaware on December 15, 1997 and is a marketing distribution
company operating in the specialty publishing business.
2. ADVANCES FROM RELATED COMPANY
Advances from related company are non-interest bearing with no
specific date of repayment.
3. CAPITAL STOCK
Issued upon incorporation:
11,000,000 common shares $ 11,000
Issued during the period:
100,000 common shares 100,000
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11,100,000 Common Shares $ 111,000
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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION
GENERAL.
The Company was organized on December 15, 1997 under the laws of the
State of Delaware. The Company was formed for the express purpose of operating
in the specialty publishing business within the United States marketplace.
The Company will have to raise additional funds in the next twelve
months. Currently, the Company is funded through cash advances from its
directors and officers. There are no specific terms for repayment. In September
2000, the Company commenced trading on the Over The Counter Bulletin Board under
the symbol "AHMC". The Company is currently seeking to raise $500,000 to
$900,000 through a private placement.
To date, the Company has (i) defined the market opportunities for the
Company in the specialty publishing business; (ii) assembled a staff with
knowledge and experience in the North American publishing industry; and (iii)
has begun the initial implementation of its marketing and distribution plan.
Currently, the Company has paid no compensation to any of its officers or
directors. It is the Company's intention upon the receipt of additional funding
to compensate certain officers of the Company on a reasonable basis in keeping
with industry standards.
DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS.
This report contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995, including statements
regarding our plans, objectives, expectations and intentions. Although we
believe the statements and projections are based upon reasonable assumptions,
actual results may differ from those that we have projected.
PART II
OTHER INFORMATION
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) No exhibits are included herein.
(b) No reports on Form 8-K were filed during the quarter for which this report
is being filed.
7
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SIGNATURES
In accordance with the requirements of the Securities Exchange Act of
1934, the registrant caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
ALPHACOM CORP.
Date: November 14, 2000 By: \s\ Michael P. Kraft
----------------------------------
Michael P. Kraft,
President, CEO, Secretary
Date: November 14, 2000 By: \s\ Khurram Qureshi
---------------------
Khurram Qureshi,
Chief Financial Officer
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