U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB
(Mark One)
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 1999
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF
THE EXCHANGE ACT
For the transition period from to
Commission File No. 0-26951
QUENTIN ROAD PRODUCTIONS, INC.
(Name of Small Business Issuer in Its Charter)
Delaware 65-0830670
(State of Other Jurisdiction of (I.R.S. Employer
Incorporation or Organization) Identification No.)
701 Brickell Avenue, Suite 3120, Miami, Florida 33131
(Address of Principal Executive Offices) (Zip Code)
(305) 539-0900
(Issuer's Telephone Number, Including Area Code)
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 December 15, 1999, the Company
had 3,050,000 shares of Common Stock outstanding, $0.0001
par value.
QUENTIN ROAD PRODUCTIONS, INC.
Form 10-QSB Quarterly Report
For the Period Ended September 30, 1999
<TABLE>
<S> <C>
Page
Part I - FINANCIAL INFORMATION
Item 1. Financial Statements 3
Unaudited Balance Sheet at September 30, 1999 and
December 31, 1998 for Quentin Road Productions, Inc. 5
Unaudited Statement of Operations for the Three and
Nine Months ended September 30, 1999 and 1998 and
from Inception (April 20, 1998) through September
30, 1999 for Quentin Road Productions, Inc. 6
Unaudited Statement of Cash Flows for the Nine Months
ended September 30, 1999 and 1998 for
Quentin Road Productions, Inc. 7
Unaudited Statement of Changes in Stockholders
Equity (Deficit)at September 30, 1999 for
Quentin Road Productions, Inc. 8-9
Notes to Interim Financial Statements 10
Item 2. Management's Discussion and Analysis of Financial
Conditions and Results of Operations 15
PART II - OTHER INFORMATION 16
Item 1. Legal Proceedings 16
Item 2. Changes in Securities 16
Item 3. Defaults Upon Senior Securities 16
Item 4. Submission of Matters to a Vote of Security Holders 16
Item 5. Other Information 16
Signatures 16
</TABLE>
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements
BASIS OF PRESENTATION
The accompanying unaudited financial statements are
presented in accordance with generally accepted
accounting principles for interim financial information
and the instructions to Form 10-QSB and item 310 under
subpart A of Regulation S-B. Accordingly, they do not
include all of the information and footnotes required by
generally accepted accounting principles for complete
financial statements. The accompanying statements should
be read in conjunction with the audited financial
statements for the year ended December 31, 1998. In the
opinion of management, all adjustments (consisting only
of normal occurring accruals) considered necessary in
order to make the financial statements not misleading,
have been included. Operating results for the three
months ended September 30, 1999 are not necessarily
indicative of results that may be expected for the year
ending December 31, 1999. The financial statements are
presented on the accrual basis.
<TABLE>
<S> <C> <C>
QUENTIN ROAD PRODUCTIONS, INC. & SUBSIDIARY
(A DEVELOPMENT STAGE COMPANY)
BALANCE SHEET
ASSETS
AUDITED UNAUDITED
June 30, 1999 September 30, 1999
------------- -------------------
CURRENT ASSETS:
Cash $22,690 $11,219
Prepaid expenses 1,200 0
------------- --------------
Total Current Assets 23,890 11,219
PROPERTY AND EQUIPMENT:
Property and equipment, net of
accumulated depreciation of $50 2,941
OTHER ASSETS
Organization costs, net of
accumulated amortization of
$212 and $293 respectively 850 1,315
Investment 5,000 5,000
------------- -------------
Total Other Assets 5,850 6,315
TOTAL ASSETS $29,740 $20,475
============= ==============
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY IN ASSETS)
------------------------------------------------------------
CURRENT LIABILITIES:
Accounts payable $986 $2,173
Accrued expenses 13,000 10,850
--------------- ----------
Total Current Liabilities 13,986 13,023
STOCKHOLDERS' EQUITY (DEFICIENCY IN ASSETS):
Preferred stock, $.0001 par value,
1,000,000 shares authorized,
No shares issued and outstanding 0 0
Common stock, $.0001 par value,
50,000,000 shares authorized, 725,000 and
3,050,000 shares issued and
outstanding respectively 305 305
Additional paid-in-capital 52,695 52,695
Deficit accumulated during
the development stage (37,246) (45,548)
---------------- ------------
Total Stockholders' Equity
(Deficiency in Assets) 15,754 7,452
---------------- ------------
TOTAL LIABILITIES AND STOCKHOLDERS'
EQUITY (DEFICIENCY IN ASSETS) $29,740 $20,475
================ ============
</TABLE>
See accompanying notes.
<TABLE>
<S> <C> <C> <C>
QUENTIN ROAD PRODUCTIONS, INC. & SUBSIDIARY
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF OPERATIONS
INACTIVE UNAUDITED UNAUDITED
For the For the From April 20, 1998
Quarter Ended Quarter Ended (Inception) through
September 30, 1998 September 30, 1999 September 30, 1999
---------------------------------------------------------
DEVELOPMENT STAGE REVENUES $0 $0 $0
---------------------------------------------------------
DEVELOPMENT STAGE EXPENSES:
Amortization 80 292
Bank Charges 0 110
Consulting fees 12,500
Depreciation 50 50
Dues and subscriptions 110
Licenses and taxes 286
Office expenses 3,888 8,006
Professional fees 2,675 21,676
Travel 1,608 2,518
---------------------------------------------------------
Total Development
Stage Expenses 0 8,301 45,548
---------------------------------------------------------
DEFICIT ACCUMULATED DURING
THE DEVELOPMENT STAGE $0 $8,301 $45,548
=========================================================
LOSS PER SHARE OF COMMON STOCK
BASIC AND DILUTED 0.003 0.017
WEIGHTED AVERAGE SHARES OUTSTANDING
BASIC AND DILUTED 0 3,050,000 2,713,068
See accompanying notes.
</TABLE>
QUENTIN ROAD PRODUCTIONS, INC. & SUBSIDIARY
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF CASH FLOWS
<TABLE>
<S> <C> <C> <C>
INACTIVE UNAUDITED UNAUDITED
For the Three For the Three From April 20, 1998
Months Ended Months Ended (Inception) through
September 30, 1998 September 30, 1999 September 30, 1999
---------------------------------------------------------
OPERATING ACTIVITIES:
Deficit accumulated during the
development stage - $(8,301) $(45,548)
Amortization 80 292
Depreciation 50 50
(Increase) Decrease in prepaid expenses 1,200
Increase other assets (546) (1,608)
Common stock issued for consulting services 0 3,000
Increase in accounts payable 1,187 2,174
Increase (decrease) in
accrued expenses (2,150) 10,850
---------------------------------------------------------
Net Cash Used by
Operating Activities - (8,480) (30,790)
---------------------------------------------------------
INVESTING ACTIVITIES:
Purchase office equipment (2,991) (2,991)
Investment in Wealthhound, Inc. 0 (5,000)
---------------------------------------------------------
Net Cash Used by Investing Activities (7,991)
FINANCING ACTIVITIES:
Proceeds from the issuance of
common stock 0 50,000
---------------------------------------------------------
Net Cash Provided by
Financing Activities 0 - 50,000
--------------------------------------------------------
INCREASE (DECREASE) IN CASH - (11,471) 11,219
CASH, BEGINNING 22,690 -
--------------------------------------------------------
CASH, ENDING - $11,219 $11,219
========================================================
Supplemental disclosures of non-cash investing and
financing activities:
Issuance of common stock in connection with consulting services $3,000
See Accompanying notes.
</TABLE>
QUENTIN ROAD PRODUCTIONS, INC & SUBSIDIARY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
UNAUDITED
1. GENERAL
The accompanying unaudited consolidated financial
statements of the Company have been prepared in
accordance with rule 10-01 of regulation S-X promulgated
by the Securities and Exchange Commission and do not
include all of the information and footnotes required by
generally accepted accounting principles for complete
financial statements. In the opinion of management, the
Company has made all adjustments necessary for a fair
presentation of the results of the interim periods, and
such adjustments consist of only normal recurring
adjustments. The results of operations for such interim
periods are not necessarily indicative of results of
operations for a full year. The preparation of financial
statements in conformity with generally accepted
accounting principles requires management to make
estimates and assumptions that affect the amounts
reported in the financial statements and accompanying
notes. Actual results could differ from those estimates.
2. NET LOSS PER COMMON SHARE
Net loss per common share has been computed (basic and
diluted) for all periods presented and is based on the
weighted average number of shares outstanding during the
period. There are no common stock equivalents resulting
from dilutive stock options.
Managements Discussion and Analysis of Financial
Condition and Results of Operations.
SAFE HARBOR STATEMENT
Certain statements in this Form 10-QSB, including
information set forth under Item 3 - Management's
Discussion and Analysis of Financial Condition and
Results of Operations constitute "forward-looking
statements" within the meaning of the Private Securities
Litigation Reform Act of 1995 (the Act). Quentin Road
Productions, Inc. desires to avail itself of certain
"safe harbor" provisions of the Act and is therefore
including this special note to enable us to do so.
Forward -looking statements in this form 10-QSB or
hereafter included in other publicly available documents
filed with the Securities and Exchange Commission,
reports to our stockholders and other publicly available
statements issued or released by us involve known and
unknown risks, uncertainties and other factors which
could cause our actual results, performance (financial or
operating) or achievements to differ from future results,
performance(financial or operating) or achievements
expressed or implied by such forward-looking statements.
Such future results are based on managements best
estimates.
DEVELOPMENT STAGE EXPENSES
Development stage expenses increased significantly the
three months ended September 30, 1999, as compared to the
same period 1998. The increase can be attributed to the
inactivity of the same period 1998.Expenses incurred the
first quarter ended September 30, 1999 are primarily
professional fees in connection with various
registrations and office expenses.
PART II - OTHER INFORMATION
Item 1. Legal Proceedings. Not applicable
Item 2. Changes in Securities. None
Item 3. Defaults Upon Senior Securities. Not Applicable
Item 4. Submission of Matters to a Vote of Security
Holders. None.
Item 5. Other Information. None
Item 6. Exhibits and Reports of Form 8-K. None
Exhibit 27 - Financial Date Schedule - Electronic Filing
Only
SIGNATURES
Pursuant to the requirements of section 13 or 15(d) of
the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed in its behalf by the
undersigned, there unto duly authorized, on December 15,
1999.
QUENTIN ROAD PRODUCTIONS, INC.
(Registrant)
Date: December 15, 1999 /s/ Rebecca Brock
------------------
Rebecca Brock
Chairman, Chief
Executive Officer,
President,
Secretary and
Treasurer
EXHIBIT 27 - FINANCIAL DATA SCHEDULE
------------------------------------
[DESCRIPTION] ART. 5 FDS FOR 10QSB
[ARTICLE] 5
[MULTIPLIER] 1,000
<TABLE>
<S> <C>
[PERIOD-TYPE] 9
[FISCAL-YEAR-END] DEC-31-1999
[PERIOD-END] SEP-30-1999
[CASH] 11,219
[SECURITIES] 0
[RECEIVABLES] 0
[ALLOWANCES] 0
[INVENTORY] 0
[CURRENT-ASSETS] 11,219
[PP&E] 2,941
[DEPRECIATION] 0
[TOTAL-ASSETS] 20,475
[CURRENT-LIABILITIES] 13,023
[BONDS] 0
[PREFERRED-MANDATORY] 0
[PREFERRED] 0
[COMMON] 305
[OTHER-SE] 7,147
[TOTAL-LIABILITY-AND-EQUITY] 20,475
[SALES] 0
[TOTAL-REVENUES] 0
[CGS] 0
[TOTAL-COSTS] 0
[OTHER-EXPENSES] 8,301
[LOSS-PROVISION] 0
[INTEREST-EXPENSE] 0
[INCOME-PRETAX] <8,301>
[INCOME-TAX] 0
[INCOME-CONTINUING] <8,301>
[DISCONTINUED] 0
[EXTRAORDINARY] 0
[CHANGES] 0
[NET-INCOME] <8,301>
[EPS-BASIC] <.003>
[EPS-DILUTED] <.003>
</TABLE>
