UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB/A
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934
For the Quarter ended June 30, 2000
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THEE EXCHANGE ACT
For the transition period _____________ to _____________
Commission file number 000-30108
IJC Ventures Corp.
(Exact name of Small Business Company in its charter)
FLORIDA 65-0911072
(State or other jurisdiction of (IRS Employer incorporation
Identification No.) or organization)
114 West Magnolia Street, Suite 400-117
Bellingham, WA 98225
(Address of principal executive offices)
Registrant's Telephone number, including area code:(360) 392-2868
Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Securities and Exchange Act of 1934 during the preceding twelve months
(or such shorter period that the Registrant was required to file such reports), and (2) has been
subject to file such filing requirements for the past thirty days.
Yes [ X ] No [ ]
Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the close
of the period covered by this report: 5,000,000 Shares of Common Stock ($.001 par value)
Transitional Small Business Disclosure Format (check one):
Yes [ ] No [ X ]
IJC Ventures Corp.
PART I: Financial Information
ITEM 1 - Financial statements
ITEM 2 - Management's' discussion and analysis of
financial condition and results of operations
PART II: Other Information
IJC Ventures Corp.
(A Development Stage Company)
Balance Sheet
June 30, 2000
(Unaudited)
ASSETS
Current assets: 2,000
Cash $ 89,619
Total current assets 89,819
Total assets $ 89,619
LIABILITIES AND STOCKHOLDERS'
EQUITY
Current liabilities:
Notes payable 100,000
Accrued interest payable 2,667
Total current liabilities 102,667
Stockholders' equity:
Preferred stock, $.01 par value,
500,000 shares authorized, 500,000 shares
issued and outstanding 2,500
Common stock, $.01 par value
200,000,000 shares authorized, 5,000,000 shares
issued and outstanding 2,500
Additional paid-in capital 1,800
(Deficit) accumulated during
development stage (19,848)
(13,048)
$ 89,619
See accompanying notes to financial statements
IJC Ventures Corp.
(A Development Stage Company)
Statements of Operations
Three Months and Six Months Ended June 30, 2000
(Unaudited)
Three Months Three Months Six Months
Ended Ended Ended
June 30, June 30, June 30,
2000 1999 2000
Operating expenses $ 11,274 $ 150 $ 11,424
(Loss from operators) (11,274) (150) (11,424)
Other income and expense
Interest expense (2,667) 0 (2,667)
Interest income 743 0 743
Net (loss) $ 13,198 $ 150 $ (13,348)
Per share information:
Basic and diluted (loss) per common share 0 0 0
Weight average shares outstanding $5,000,000 $5,000,000 $5,000,000
See accompanying notes to financial statements
IJC Ventures Corp.
(A Development Stage Company)
Statements of Cash Flows
Six Months Ended June 30, 2000
(Unaudited)
Six Months Six Months Period From
Ended Ended Inception
June 30, June 30, June 30,
2000 1999 2000
Net income (loss) $ (13,348) $ (300) $ 19,848
Adjustments to reconcile net income to net
cash provided by operating activities:
Stock issued for services 5,000
Corporate expenses paid and
contributed to capital 300 300 1,800
Changes in assets and liabilities:
Increase in accrued interest payable 2,667 0 2,667
Total adjustments 2,967 300 9,467
Net cash provided by (used in)
operating activities (10,381) 0 (10,381)
Cash flows from financing activities:
Proceeds from notes payable 100,000 0 100,000
Net cash provided by
financing activities 100,000 0 100,000
Increase (decrease) in cash 89,619 0 89,619
Cash and cash equivalents,
beginning of period 0 0 0
Cash and cash equivalents,
end of period $ 89,619 $ 0 $ 89,619
See accompanying notes to financial statements
IJC Ventures, Inc.
Notes to Financial Statements
Basis of presentation
The accompanying unaudited financial statements have been prepared in accordance with generally accepted
accounting principles for interim financial information and with the instructions incorporated in Regulation
10-SB of the Securities and Exchange Commission. Accordingly, they do not include all of the information and
footnotes required by generally accepted accounting principles for complete financial statements. In the
opinion of management, all adjustments (consisting of normal recurring adjustments and accruals) considered
necessary for a fair presentation have been included.
The results of operations for the periods presented are not necessarily indicative of the results to be expected
for the full year. The accompanying financial statements should be read in conjunction with the Company's
financial statements for the year ended December 31, 1999.
Basic loss per share was computed using the weighted average number of common shares outstanding.
During the six months ended June 30, 2000, an officer of the Company contributed an aggregate of $300 to the
Company for management services and office expenses. This amount has been accounted for as a contribution of
capital to the Company.
On April 12, 2000, the Company received $100,000 as proceeds from a short term note payable. The note is due
on July 12, 2000 unless extended with interest at 12% per annum.
Item 2. Management's Discussion and Analysis of Financial
Condition and Results of Operations:
Plan of Operation
IJC Ventures Corp. (the "Company") was organized under the laws of the State of Florida to engage in
any lawful business. The Company was formed for the purpose of creating a vehicle to obtain capital to take
advantage of business opportunities that may have potential for profit. Management of the Company has unlimited
discretion in determining the business activities in which the Company will become engaged. Such companies are
commonly referred to as "blind pool/blank check" companies. There is and can be no assurance that the Company will
be able to acquire an interest in any such opportunities that may exist or that any activity of the Company, even
after any such acquisition, will be profitable.
The Company has generated no revenues from its operations and has been a development stage company since
inception. Since the Company has not generated revenues and has never been in a profitable position, it operates
with minimal overhead.
During the period of this report, the Company has not engaged in any preliminary efforts intended to identify
any possible acquisitions nor entered into a letter of intent concerning any business opportunity.
Liquidity and Capital Resources
At June 30, 2000, the Company had cash of $89,619. Even with this cash there can be no assurance that
the Company will be able to complete its business plan and to exploit fully any business opportunity
that management may be able to locate on behalf of the Company. Due to the lack of a specified business
opportunity, the Company is unable to predict the period for which it can conduct operations. Accordingly,
the Company will need to seek additional financing through loans, the sale and issuance of additional debt
and/or equity securities, or other financing arrangements. Management of the Company has advised that
they will pay certain costs and expenses of the Company from their personal funds as interest free loans in
order to facilitate development of the Company's business plan. Management believes that the Company has
inadequate working capital to pursue any operations at this time; however, loans to the Company from
management may facilitate development of the business plan. For the foreseeable future, the Company through
its management intends to pursue acquisitions as a means to develop the Company. The Company does not intend
to pay dividends in the foreseeable future.
Year 2000 Issues
The Company encountered no Y2K problems.
PART II--OTHER INFORMATION
Item 1. Legal Proceedings.
There are no pending legal proceedings, and the Company is not aware of any threatened legal proceedings,
to which the Company is a party or to which its property is subject.
Item 2. Changes in Securities.
(a) There have been no material modifications in any of the instruments defining the rights of the holders of
any of the Company's registered securities.
(b) None of the rights evidenced by any class of the Company's registered securities have been materially
limited or qualified by the issuance or modification of any other class of the Company's securities.
Item 3. Defaults Upon Senior Securities.
(Not applicable)
Item 4. Submission of Matters to a Vote of Security Holders.
(Not applicable)
Item 5. Other Information.
(Not applicable)
Item 6. Exhibits and Reports on Form 8-K.
(a) Exhibits
No exhibits as set forth in Regulation SB, are considered necessary for this filing.
(b) Reports on Form 8-K
None
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this
report to be signed on its behalf by the Undersigned thereunto duly authorized.
Date: September 1 , 2000 /s/ John Meyer
John Meyer, President
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<FISCAL-YEAR-END> DEC-31-2000
<PERIOD-START> JAN-01-2000
<PERIOD-END> JUNE-30-2000
<CASH> 89,619
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 89,619
<CURRENT-LIABILITIES> 102,667
<BONDS> 0
<PREFERRED-MANDATORY> 0
<PREFERRED> 2,500
<COMMON> 2,500
<OTHER-SE> 1,800
<TOTAL-LIABILITY-AND-EQUITY> 89,619
<SALES> 0
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 11,274
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 1,924
<INCOME-PRETAX> (13,198)
<INCOME-TAX 0
<INCOME-CONTINUING> (13,198)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (13,198)
<EPS-PRIMARY> 0
<EPS-DI 0
