|
|
|
|
|
|
|
|
|
|
|
|
|
|
Previous: WNC HOUSING TAX CREDIT FUND VI LP SERIES 7, 424B3, 2000-08-29 |
Next: WAKE FOREST BANCSHARES INC, 8-K/A, 2000-08-29 |
<PAGE>
As filed with the Securities and Exchange Commission on August 29, 2000
--------------------------------------------------------------------------------
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 JUNE 30, 2000.
--------------
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934. For the transition period from _________ to _________
Commission file number: 0-26703
-------
--------------------
ALPHACOM CORPORATION
(NAME OF SMALL BUSINESS ISSUER IN ITS CHARTER)
--------------------
<TABLE>
<S> <C> <C>
DELAWARE 2731 98-0206030
(STATE OR JURISDICTION OF (PRIMARY STANDARD INDUSTRIAL (I.R.S. EMPLOYER
INCORPORATION OR ORGANIZATION) CLASSIFICATION CODE NUMBER) IDENTIFICATION NUMBER)
</TABLE>
151 BLOOR STREET WEST
SUITE 890
TORONTO, ONTARIO
CANADA M5S-1S4
(416) 927-7000
(ADDRESS AND TELEPHONE NUMBER OF PRINCIPAL EXECUTIVE OFFICES
AND PRINCIPAL PLACE OF BUSINESS)
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 [] No [ X]
State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date. As of August 29, 2000, there were
approximately 11,100,000 shares of the Company's Common Stock issued and
outstanding.
Transitional Small Business Disclosure Format: Yes [ ] No [X]
<PAGE>
TABLE OF CONTENTS
TABLE OF CONTENTS
PART I
ITEM 1 FINANCIAL STATEMENTS
Balance Sheet as of June 30, 2000
Statement of Retained Earnings for the six
months ended June 30, 2000, for the
six months ended June 30, 1999 and
from inception to June 30, 2000
Statement of Operations for the six months
ended June 30, 2000, for the six
months ended June 30, 1999 and from
inception to June 30, 2000
Statement of Cash Flow for the six months
ended June 30, 2000, for the six
months ended June 30, 1999 and from
inception to June 30, 2000
Notes to Financial Statements
ITEM 2 MANAGEMENT'S DISCUSSION AND ANALYSIS
PART II
ITEM 1 LEGAL PROCEEDINGS
<PAGE>
PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
<PAGE>
ALPHACOM CORPORATION
(A Development Stage Enterprise)
INTERIM FINANCIAL STATEMENTS
(Unaudited)
June 30, 2000
INDEX
Page
----
Interim Financial Statements:
Balance Sheet I
Statement of Retained Earnings (Deficit) II
Statement of Operations (Loss) III
Statement of Cash Flows IV
Notes to Financial Statements V
<PAGE>
ALPHACOM CORPORATION
(A Development Stage Enterprise)
INTERIM BALANCE SHEET
(Unaudited)
June 30, 2000
ASSETS
<TABLE>
<CAPTION>
2000 1999
---- ----
<S> <C> <C>
Bank $ 3,461 $ 37,231
Loan Receivable 4,000
-
---------------- ----------------
$ 3,461 $ 41,231
CAPITAL ASSETS 475 -
---------------- ----------------
$ 3,936 $41,231
================ ================
LIABILITIES
Accounts Payable and Accrued Liabilities 40,832 1,819
Advances From Parent Company 17,465 3,214
---------------- ----------------
58,296 5,033
================ ================
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 11,100 11,100
Additional Paid in Capital 99,900 99,900
Retained Earnings (Deficit) (165,360) (74,802)
---------------- ----------------
(54,360) 36,198
---------------- ----------------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 3,936 $41,231
================ ================
</TABLE>
<PAGE>
ALPHACOM CORPORATION
(A Development Stage Enterprise)
INTERIM STATEMENT OF RETAINED EARNINGS (DEFICIT)
(Unaudited)
FOR THE SIX MONTHS ENDED JUNE 30, 2000
<TABLE>
<CAPTION>
Period From
Six Months Ended Six Months Ended December 15, 1997
June 30, 2000 June 30, 1999 To June 30, 2000
------------- ------------- ----------------
<S> <C> <C> <C>
Retained Earnings (Deficit), beginning of the period (125,701) (26,710) -
Net Income (loss) for the period (39,659) (48,092) (165,360)
------------------- -------------------- ---------------------
Retained Earnings (Deficit), end of the period (165,360) (74,802) (165,360)
=================== ==================== =====================
</TABLE>
<PAGE>
ALPHACOM CORPORATION
(A Development Stage Enterprise)
INTERIM STATEMENT OF OPERATIONS
(Unaudited)
FOR THE SIX MONTHS ENDED JUNE 30, 2000
<TABLE>
<CAPTION>
Period From
Six Months Ended Six Months Ended December 15, 1997
June 30, 2000 June 30, 1999 To June 30, 2000
------------- ------------- --------------------
<S> <C> <C> <C>
REVENUE
Sales $ - $ - $ -
COST OF SALES
Cost of Sales and Direct Costs - - -
-------------------- --------------------- ----------------------
GROSS PROFIT $ - $ - $ -
-------------------- --------------------- ----------------------
EXPENSES
General and Administrative $ 16,104 $ 25,880 $ 75,603
Management Services 3,000 15,000 36,000
Professional Fees and Shareholder Services 20,555 7,212 53,757
-------------------- --------------------- ----------------------
$ 39,659 $ 48,092 $ 165,360
-------------------- --------------------- ----------------------
NET INCOME (LOSS) BEFORE INCOME TAXES (39,659) (48,092) (165,360)
Income Taxes
Current ( Recovery ) - - -
-------------------- --------------------- ----------------------
NET INCOME (LOSS) FOR THE PERIOD $ (39,659) $ (48,092) $ (165,360)
==================== ===================== ======================
Loss per Shares - Basic $ (0.004) $ (0.004) $ (0.015)
==================== ===================== ======================
Earnings per Shares- Fully Diluted $ (0.004) $ (0.004) $ (0.015)
==================== ===================== ======================
</TABLE>
<PAGE>
ALPHACOM CORPORATION
(A Development Stage Enterprise)
STATEMENT OF CASH FLOWS
(Unaudited)
FOR THE SIX MONTHS ENDED JUNE 30, 2000
<TABLE>
<CAPTION>
Six Months Six Months Period From
Ended June Ended June December 15, 1997
30, 2000 30, 1999 To June 30, 2000
---------- -------------- -----------------
<S> <C> <C> <C>
OPERATING ACTIVITIES
Net Income (Loss) $ (39,659) $ (48,092) $ (165,360)
Increase (decrease) in accounts payable 14,534 (7,442) 40,832
Prepaid Expenses 126 - -
--------------------- ----------------- --------------------
(24,999) (55,534) (124,528)
--------------------- ----------------- --------------------
INVESTING ACTIVITIES
Increase in Loans Receivable / Payable - (4,000) -
Acquisition of Capital Assets (475) - (475)
--------------------- ----------------- --------------------
(475) (4,000) (475)
--------------------- ----------------- --------------------
FINANCING ACTIVITIES
Issuance of Capital Stock - 100,000 111,000
Advances To/From Parent Company 18,251 (3,695) 17,465
--------------------- ----------------- --------------------
18,251 96,305 128,465
--------------------- ----------------- --------------------
Change in Cash (Bank Indebtedness) (7,224) 36,771 3,461
Cash - Beginning of period 10,685 461 -
--------------------- ----------------- --------------------
Cash (Bank Indebtedness) - End of period $ 3,461 $ 37,232 $ 3,461
===================== ================= ====================
</TABLE>
<PAGE>
ALPHACOM CORPORATION
(A Development Stage Enterprise)
NOTE TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
June 30, 2000
1. Company
The company was incorporated under the laws of the State of Delaware on
December 15, 1997 and is a development stage 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
------------------------------------------------------------------------------
11,100,000 Common Shares $11,100
------------------------------------------------------------------------------
<PAGE>
ITEM 2 MANAGEMENT'S DISCUSSION AND ANALYSIS
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. Once the
Company begins trading on the NASDAQ Bulletin Board, the Company expects 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.
PART II. OTHER INFORMATION
ITEM 1 LEGAL PROCEEDINGS
The Company is not a party to any legal proceedings or claims that
it believes will have, individually or in the aggregate, a material adverse
effect on the Company's business, financial condition or results of operations.
SIGNATURES
In accordance with Section 12 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 CORPORATION
Date: August 29, 2000 By: \s\ Michael P. Kraft
------------------- --------------------------------
Michael P. Kraft
President, CEO, Secretary
Date: August 29, 2000 By: \s\ Khurram Qureshi
------------------- --------------------
Khurram Qureshi
Chief Financial Officer
|
|