U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10QSB
[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 ____________________.
Apex Capital Group, Inc.
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(Name of Small Business Issuer as specified in its charter)
NEVADA 000-27001 91-1939535
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(State or other jurisdiction of SEC File (I.R.S. incorporation or
organization) Number Employer I.D. No.)
83-888 Ave. 51
Coachella, CA 92236
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(Address of Principal Executive Office)
Issuer's Telephone Number, including Area Code: (760) 398-9700
Idicate by check mark whether the Registrant (i) has filed all reports
required to be filed by Section 13,or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (of for such shorter period
that the Registrant was required to file such reports) and (ii) has been
subject to such filing requirements for the past 90 days.
Yes X No
Indicate the number of shares outstanding of each of the issuer's
classes of Common Stock, as of the latest practicable date.
Common Stock $0.001 par value 1,004,520
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No Exhibits Included.
General
The condensed consolidated financial statements of Apex Capital Group,
Inc. included herein, have been prepared without audit pursuant to the
rules and regulations of the Securities and Exchange Commission. Although
certain information normally included in financial statements prepared
in accordance with generally accepted accounting principles has been
condensed or omitted, Apex Capital Group, Inc.'s management believes
that the disclosures are adequate to make the informaton presented not
misleading. The condensed financial statements for the three months
and the nine months ended September 30, 1999 should be read in conjunction
with the financial statements and notes thereto included in this report
and Apex Capital Group, Inc.'s Form 10 with attached financials of
12-31-1998 and stub period finacials through June 30, 1999.
The condensed financial statements included herein reflectr all normal
recurring adjustments that, in the opinion of management, are necessary
for a fair presentation. The result for the interim period are not
necessarily indicative of trends or results to be expected for a full
year.
Item 2. MANAGEMENTS DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND
FINANCIAL CONDITION
The Company has not commenced operations and has no working capital.
SIGNATURES
In accordance with Section 12 of the Securities Exchange Act of 1934, the
Registrant has caused this Registration Statement to be signed on its behalf
by the undersigned, thereunto duly authorized.
Apex Capital Group, Inc.
Date: 11/8/99 By: /s/ Dempsey K. Mork
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Dempsey K. Mork, Director
and President
APEX CAPITAL GROUP, INC.
BALANCE SHEETS
December 31, 1998 and September 30. 1999
12/31 9/30
1998 1999
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ASSETS
CURRENT ASSETS
Cash in Bank 685 685
PROPERTY AND EQUIPMENT -0- -0-
OTHER ASSETS -0- -0-
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TOTAL ASSETS 685 -0-
====== ======
LIABILITIES AND SHAREHOLDERS' EQUITY
LIABILITIES
CURRENT LIABILITIES -0- -0-
LONG TERM LIABILITIES -0- -0-
------ ------
TOTAL LIABILITIES -0- -0-
SHAREHOLDERS' EQUITY
COMMON STOCK 701 701
RETAINED EARNINGS (16) (16)
------ ------
TOTAL SHAREHOLDERS' EQUITY
685 685
TOTAL LIABILITIES AND
SHAREHOLDERS' EQUITY 685 685
====== ======
The accompanying notes are an integral part of these financial statements.
-2-
APEX CAPITAL GROUP, INC.
STATEMENTS OF INCOME AND RETAINED EARNINGS
For the three months ended 9/30/99 and the nine months ended 9/30/99
3 Months 9 Months
9/30/99 9/30/99
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REVENUES -0- -0-
EXPENSES
Consulting Fees -0- -0-
------ ------
INCOME BEFORE INCOME TAXES -0- -0-
INCOME TAXES -0- -0-
------ ------
NET INCOME -0- -0-
BEGINNING RETAINED EARNINGS (16) (16)
DIVIDENDS -0- -0-
------ ------
ENDING RETAINED EARNINGS -0- -0-
====== ======
The accompanying notes are an integral part of these financial statements
-3-
APEX CAPITAL GROUP, INC.
STATEMENTS OF CASH FLOWS
For the three months ended 9/30/99 and the nine months ended September 30,
1999
3 months 9 months
9/30/99 9/30/99
1999 1999
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CASH FLOWS FROM OPERATING ACTIVITIES
NET INCOME -0- -0-
ADJUSTMENTS TO RECONCILE NET INCOME
TO NET CASH PROVIDED BY OPERATING
ACTIVITIES -0- -0-
------ ------
NET CASH PROVIDED (USED) BY
OPERATING ACTIVITIES -0- -0-
CASH FLOWS FROM INVESTING ACTIVITIES
-0- -0-
CASH FLOWS FROM FINANCING ACTIVITIES
ISSUE CAPITAL STOCK -0- -0-
------ ------
NET INCREASE (DECREASE) IN CASH -0- -0-
CASH AT BEGINNING OF YEAR -0- -0-
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CASH AT END OF YEAR -0- -0-
====== ======
SUPPLEMENTAL DISCLOSURES
INTEREST PAID -0- -0-
INCOME TAXES PAID -0- -0-
The accompanying notes are an integral part of these financial statements
-4-
APEX CAPITAL GROUP, INC.
NOTES TO FINANCIAL STATEMENTS
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Nature of Business
Apex Capital Group, Inc. was organized under the laws of the State of Nevada
on January 25, 1996 under the name of Pinnacle Management Group, Inc. On
February 6, 1996 the articles were amended to record its new name Apex
Capital Group, Inc. The Company was incorporated primarily to egange in any
lawful activity.
NOTE 2 STOCK TRANSACTIONS
The Articles of Incorporation initially authorized the Company to issue up to
60,000 shares of stock as follows: 50,000 shares common stock at a par value
of $.001; and 10,000 shares of preferred stock at a par value of $.001.
On March 16, 1996, 16,001 shares were issued to individuals in return for
services rendered.
On October 6, 1998, the Articles of Incorporation were amended to authorize
the Company to issue 100,000,000 shares of stock as follows: 99,990,000
shares of common stock at a par value of $.001; and 10,000 shares of
preferred stock at a par value of $.001.
On October 15, 1998, the Board of Directors issued a 20 to 1 forward split of
its capital stock shares.
On December 15, 1998, the Board of Directors agreed to sell up to 700,000
shares of its common stock at the stated par value of $.001.
As of September 30, 1999, the Company had issued a total of 1,004,520
shares of common stock.
-5-
APEX CAPITAL GROUP, INC.
Notes to Financial Statements
NOTE 3 RELATED PARTY TRANSACTIONS
On March 16, 1996, shares of capital stock were issued to individuals in
return for services rendered. These individuals include officers of the
corporation.
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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