U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB
[ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 1999
[ ] 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. 0-26027
ATOMIC GIANT.COM, INC.
(Exact name of small business issuer as specified in its charter)
Utah 87-0626333
(State or Other Jurisdiction of (IRS Employer
Incorporation or Organization) Identification No.)
4643 North Mile High Drive, Provo, Utah 84604
(Address of principal executive offices)
(801) 373-3990
(Issuer's telephone number)
Not Applicable
(Former name, address and fiscal year, if changed since last report)
Check whether the issuer (1) has filed all reports required to
be filed by Section 13 or 15(d) of the Exchange Act during the
preceding 12 months (or for such shorter period that the issuer
was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days. Yes [ ] No
[ X ]
APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS
DURING THE PRECEDING FIVE YEARS:
Check whether the registrant has filed all documents and reports
required to be filed by Sections 12, 13, or 15(d) of the
Exchange Act subsequent to the distribution of securities under
a plan confirmed by a court. Yes [ ] No [ ]
APPLICABLE ONLY TO CORPORATE ISSUERS:
State the number of shares outstanding of each of the issuer's
classes of common equity, as of the latest practicable date:
625,000 shares of common stock.
<PAGE>
FORM 10-QSB
ATOMIC GIANT.COM, INC.
INDEX
Page
PART I. Financial Information
Item 1. Financial Statements
Balance Sheet, September 30, 1999 (audited) 3
Statement of operations for the three months
ended September 30, 1999 (unaudited) and
for the period from February 10, 1999
(date of inception) to September 30, 1999 (unaudited) 4
Statement of cash flows for the
period from February 10, 1999 (date
of inception) to September 30, 1999 (unaudited) 5
Notes to financial statements 7
Item 2. Management's Discussion and Analysis of
Financial Condition or Plan of Operation 8
PART II. Other Information 9
Item 6. Exhibits and Reports on Form 8-K 9
Signatures 9
2
<PAGE>
PART I.
Financial Information
Item 1. Financial Statements
ATOMICGIANT.COM, INC.
(A Development Stage Company)
Balance Sheet
September 30, 1999
(Unaudited)
Assets
Current assets:
Cash $32,392
Mortgage loans receivable 986,962
Total current assets 1,019,354
Equipment, net of accumulated depreciation of$441 3,696
Total assets $1,023,050
Liabilities and Stockholders' Deficit
Current liabilities -
accounts payable and accrued liabilities $1,296
Stockholders' deficit:
Common stock, no par value, 50,000,000
shares authorized, 625,000 shares
issued and outstanding 1,015,100
Retained earnings 6,654
Total stockholders' deficit 1,021,754
Total liabilities and stockholders' deficit $1,023,050
See accompanying notes to financial statements.
3
<PAGE>
ATOMICGIANT.COM, INC.
(A Development Stage Company)
Statement of Operations
(Unaudited)
February 10,
Three Months 1999 (Date of
Ended Inception) to
September 30, September 30,
1999 1999
Interest Income $29,686 $55,545
General and administrative expenses (7,742) (47,891)
Income before income taxes 21,944 7,654
Income tax expense (3,000) (1,000)
Net income $18,944 $6,654
Income per share - basic and diluted $ .03 $ .01
Weighted average number of
shares outstanding - basic and diluted 625,000 625,000
See accompanying notes to financial statements.
4
<PAGE>
ATOMICGIANT.COM, INC.
(A Development Stage Company)
Statement of Cash Flows
(Unaudited)
February 10,
1999 (Date of
Inception) to
September
30, 1999
Cash flows from operating activities:
Net income $6,654
Adjustments to reconcile net income to net
cash used in operating activities:
Depreciation 441
Increase in mortgage loans receivable (986,962)
Increase in accounts payable and
accrued liabilities 1,296
Net cash used in
operating activities (978,571)
Cash flows from investing activities-
purchase of equipment (4,137)
Cash flows from financing activities:
Proceeds from issuance of warrants 20,500
Proceeds from issuance of stock 994,600
Net cash provided by
financing activities 1,015,100
Net increase in cash 32,392
Cash, beginning of period -
Cash, end of period $32,392
See accompanying notes to financial statements.
5
<PAGE>
ATOMICGIANT.COM, INC.
(A Development Stage Company)
Statement of Cash Flows
(Unaudited)
Continued
February 10,
1999 (Date of
Inception) to
September 30,
1999
Supplemental disclosure of cash flow information:
Interest paid $ -
Income taxes paid $ -
See accompanying notes to financial statements.
6
<PAGE>
ATOMICGIANT.COM, INC.
(A Development Stage Company)
Notes to Financial Statements
(1) The unaudited financial statements include the accounts of
AtomicGiant.com, Inc. and include all adjustments
(consisting of normal recurring items) which are, in the
opinion of management, necessary to present fairly the
financial position as of September 30, 1999 and the results
of operations for the three months ended September 30, 1999,
and cumulative amounts since inception, and cash flows for
the cumulative amounts since inception. The results of
operations for the three months ended September 30, 1999 are
not necessarily indicative of the results to be expected for
the entire year.
(2) Income per common share is based on the weighted average
number of shares outstanding during the period.
7
<PAGE>
Item 2. Management's Discussion and Analysis of Financial Condition
or Plan of Operation
Results of Operations
Period From Inception on February 10, 1999 to September 30, 1999
The Company had no revenue from continuing operations for
the period from inception on February 10, 1999, to September 30,
1999.
General and administrative expenses for the period consisted
of general corporate administration, legal and professional
expenses, and accounting costs totaling $47,891.
The Company's cash is invested in short-term, mortgage
loans. Interest income in the period from inception to September
30, 1999, was $55,545.
As a result of the foregoing factors, the Company realized
net income of $6,654 for the period from inception to September
30, 1999.
Liquidity and Capital Resources
At September 30, 1999, the Company had working capital of
approximately $1,018,058. Working capital consisted of short-
term mortgage notes and cash.
Management believes that the Company has sufficient cash and
short-term investments to meet the anticipated needs of the
Company's operations through at least the next 12 months.
However, there can be no assurances to that effect, as the
Company has no significant revenues and the Company's need for
capital may change dramatically as it attempts to implement its
proposed business to provide internet mailing and advertising
services. The Company's current operating plan is to (i) pursue
implementation of its proposed internet business, and (ii) handle
the administrative and reporting requirements of a public
company. At present, the Company is still conducting a market
evaluation of its internet business, and does not propose to roll-
out marketing efforts for its service until that evaluation is
complete. There can be no assurance that the Company will be
successful in establishing its internet business.
Forward-Looking Statements
This Form 10-QSB includes, without limitation, certain
statements containing the words "believes", "anticipates",
"estimates", and words of a similar nature, constitute "forward-
looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. This Act provides a "safe harbor"
for forward-looking statements to encourage companies to provide
prospective information about themselves so long as they identify
these statements as forward looking and provide meaningful,
cautionary statements identifying important factors that could
cause actual results to differ from the projected results. All
statements other than statements of historical fact made in this
Form 10-QSB are forward-looking. In particular, the statements
herein regarding industry prospects and future results of
operations or financial position are forward-looking statements.
Forward-looking statements reflect management's current
expectations and are inherently uncertain. The Company's actual
results may differ significantly from management's expectations.
8
<PAGE>
PART II.
Other Information
Item 6. Exhibits and Reports on Form 8-K
Exhibits: Included only with the electronic filing of this
report is the Financial Data Schedule for the period ended
September 30, 1999 (Exhibit Ref. No. 27).
Reports on Form 8-K: None
SIGNATURES
In accordance with the requirements of the Exchange Act, the
registrant caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
ATOMIC GIANT.COM, INC.
Date: November 5, 1999 By: /s/ Miles Pitcher, President
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