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 March 31, 2000
[ ] 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
DATIGEN.COM, INC.
(Exact name of small business issuer as specified in its
charter)
87-0626333
Utah (IRS Employer Identification No.)
(State or other jurisdiction of
incorporation or organization)
887 W. Center Street, Orem, Utah 84057
(Address of principal executive offices)
(801) 229-1288
(Issuer's telephone number)
ATOMIC GIANT.COM, INC.
4643 North Mile High Drive, Provo, Utah 84604
(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 [ X] No [ ]
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 May 9, 2000:
825,000 shares of common stock.
Transitional Small Business Format: Yes [ ] No [ X ]
Documents incorporated by reference: None
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FORM 10-QSB
DATIGEN.COM, INC.
INDEX
Page
PART I. Financial Information 3
Balance Sheets for the Period Ending 4
March 31, 2000 (unaudited)
5
Statement of Operations from February 10,
1999 (Date of Inception) to March 31,
1999 and for the Three Months Ended march
31, 2000 (unaudited) 6
Statement of Cash Flows from February 10,
1999 (Date of Inception) to March 31,
1999 and for the Three Months Ended march 7
31, 2000 (unaudited)
8
Notes to Financial Statements
Management's Discussion and Analysis of
Financial Condition
PART II. Other Information 9
Changes in Securities and Use of Proceeds 9
Submission of Matters to a Vote of 9
Securities Holders
9
Exhibits and Repots on Form 8-K
Signatures 10
2
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PART I.
Financial Information
In the opinion of management, the accompanying unaudited
financial statements included in this Form 10-QSB reflect
all adjustments (consisting only of normal recurring
accruals) necessary for a fair presentation of the results
of operations for the periods presented. The results of
operations for the periods presented are not necessarily
indicative of the results to be expected for the full year.
3
<PAGE>
Balance Sheet
March 31, 2000
(Unaudited)
Assets
Current assets:
Cash $ 1,811
Accounts receivable 6,000
Notes receivables 917,828
Total current assets 925,639
Property and equipment, net of accumulated
depreciation of $2,585 35,764
Technology, net of accumulated amortization of
$22,500 427,500
-------
Total assets $1,388,903
==========
Liabilities and Stockholders' Equity
Current liabilities -
Accounts payable and accrued liabilities $ 3,296
Stockholders= equity:
Common stock, no par value, 50,000,000 shares
authorized; 825,000 shares issued and
outstanding 1,465,100
Accumulated deficit (79,493)
Total stockholders' equity 1,385,607
Total liabilities and stockholders' equity $ 1,388,903
===========
See accompanying notes to financial statements.
4
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Statement of Operations
(Unaudited)
February 10,
Three Months 1999 (Date of Cumulative
Ended Inception) to Amounts
March 31, March 31, from
Revenue: 2000 1999 Inception
Sales $ 8,000 $ - $ 8,000
Interest 19,094 2,902 103,289
27,094 2,902 111,289
Expenses:
General and administrative expense (102,732) (25,500) (190,782)
Loss before income taxes (75,638) (22,598) (79,493)
Income tax expense - - -
Net loss $ (75,638) $ (22,598) $ (79,493)
Net loss per share - basic and diluted $ (.09) $ $ .12)
Weighted average common shares -
basic and diluted 825,000 625,000 668,000
See accompanying notes to financial statements.
5
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Statement of Cash Flows
Three February 10,
Months 1999 (Date of Cumulative
Ended Inception) to Amounts
March 31, March 31, From
2000 1999 Inception
Cash flows from operating activities:
Net loss $ (75,638) $ (22,598) $ (79,493)
Adjustments to reconcile net loss to
net cash used in operating activities:
Depreciation and amortization 24,000 29 25,085
Issuance of below market warrants - 20,500 20,500
Increase in:
Prepaid expenses - (2,367)
Accounts receivable (6,000) - (6,000)
Accounts payable and accrued liabilties 2,738 5,813 3,296
Net cash (used in) provided by
operating activities (54,900) 1.377 (36,612)
Cash flows from investing activities:
Purchase of equipment (10,468) (3,646) (38,349)
Decrease (increase) in notes receivable 45,000 - (917,828)
Net cash provided by (used in)
investing activities 34,532 (3,646) (956,177)
Cash flows from financing activities -
issuance of common stock - 994,600 994,600
Net (decrease) increase in cash (20,368) 992,331 1,811
Cash, beginning of period 22,179 - -
Cash, end of period $ 1,811 $ 992,331 $ 1,811
See accompanying notes to financial statements.
6
<PAGE>
Notes to Financial Statements
(1) The unaudited financial statements include the accounts of
Datigen.com 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 March 31, 2000 and the results of operations
and changes in financial position for the three month
periods ended March 31, 2000, and cumulative amounts since
inception. The results of operations for the three months
ended March 31, 2000 are not necessarily indicative of the
results to be expected for the entire year.
(2) Loss per common share is based on the weighted average
number of shares outstanding during the period.
(3) During the three months ended March 31, 2000, the Company
issued 200,000 shares of common stock in exchange for
technology of $450,000.
The Company has not paid any cash for interest or income
taxes since inception.
7
<PAGE>
MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION
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.
Results of Operations
Period From Inception on February 10, 1999 to March 31, 1999 and
for the Three Months Ended March 31, 2000
The Company had $2,902 revenue from continuing operations
for the period from inception on February 10, 1999 to March 31,
1999 and recognized $27,094 in revenue for the three months ended
march 31, 2000. All revenue was attributed to interest.
General and administrative expenses for the period from
inception to March 31, 1999 consisted of general corporate
administration, legal and professional expenses, and accounting
costs totaling $25,500 compared to $102,732 for the period ending
March 31, 2000. The increase in general and administrative
expenses is contributed to increasing the number of employees and
relocating office facilities.
The Company's cash is invested in short-term, mortgage
loans. Net cash used in investing activities for the period from
inception to March 31, 1999 was $3,646 compared to net cash
provided by investing activities for the three month period
ending March 31, 2000 was $34,532.
As a result of the foregoing factors, the Company realized
net loss of $22,598 for the period from inception to March 31,
1999 and a net loss of $75,638 for the three months ended March
31, 2000. The loss is attributed to the Company's expansion and
growth.
Liquidity and Capital Resources
At March 31, 2000, the Company had cash of $1,811 and
accounts receivable of $6,000, and notes receivable of $917,828.
Additional assets include $35,764 in property and equipment, net
of accumulated depreciation of $2,585 and technology valued at
$427,500 net of accumulated amortization of $22,500.
Current liabilities include accounts payable and accrued
liabilities of $3,296.
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. In
addition, the Company is now realizing product sales which the
Company anticipates will generate adequate revenue to continue
operations and expansion. However, there can be no assurances to
that effect, as the Company has
8
<PAGE>
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.
PART II. OTHER INFORMATION
Changes in Securities and Use of Proceeds:
In January 2000, the Company issued 200,000 shares of common
stock to an officer and director of the Company in exchange for
technology valued at $450,000. The shares were issued to an
individual and not in connection with any public offering. The
Company relied upon Section 4(2) of the Securities Act to effect
the transaction.
Submission of Matters to a Vote of Securities Holders:
An annual meeting of stockholders was held on April 11,
2000. Three proposals were submitted for a vote by the
stockholders. There were 825,000 shares eligible to vote at the
annual meeting.
The first proposal was the election of the Board of
Directors.
Name For Against Abstain
Steven Lloyd 547,500 -0- -0-
Joseph Ollivier 547,500 -0- -0-
Josh James 547,500 -0- -0-
The second proposal was to change the Corporation's name
from Atomic Giant.Com, Inc., to Datigen.Com, Inc.
For Against Abstain
535,000 12,500 -0-
The third proposal was for the implementation of the
Company's long-term incentive stock plan.
For Against Abstain
536,000 11,000 500
Exhibits and Reports on Form 8-K.
Reports on Form 8-K: The Corporation filed a Form 8-K
identifying changes in control of registrant on January 18, 2000.
Exhibits: Included only with the electronic filing of this report
is the Financial Data Schedule for the three month period ended
March 31, 2000 (Exhibit ref. No. 27).
9
<PAGE>
SIGNATURES
In accordance with the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned
thereunto duly authorized.
DATIGEN.COM, INC.
Date: 5/8/00 By: /s/ Steven Lloyd, President
Date: 5/8/00 By: /s/ Joseph Ollivier, Chief Financial Officer
10
<PAGE>
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