U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-KSB
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED
DECEMBER 31, 1999
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM
________ TO _________
COMMISSION FILE NUMBER: 000-26051
TheInternetCorp.net, Inc.
(Exact name of registrant as specified in its charter)
Nevada 88-0424430
(State or jurisdiction of incorporation I.R.S. Employer
or organization) Identification No.)
3158 Redhill Avenue, Suite 240, Costa Mesa, California 92626
(Address of principal executive offices) (Zip Code)
Registrant's telephone number: (949) 770-2578
Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act:
Common Stock, $0.001 Par Value
Check whether the issuer (1) 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 (or for such shorter period
that the Registrant was required to file such reports), and (2)
been subject to such filing requirements for the past 90 days.
Yes X No
Check if there is no disclosure of delinquent filers in response
to Item 405 or Regulation S-B is not contained in this form, and
no disclosure will be contained, to the best of registrant's
knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-KSB or any
amendment to this Form 10-KSB. [ ]
State issuer's revenues for the most recent fiscal year: $0.00
The number of shares outstanding of the Company's $.001 Par Value
Common Stock, as of December 31, 1999 were 1,000,000. The
aggregate number of shares of the voting stock held by non-
affiliates on December 31, 1999 was 0. The Company's common is
not traded on any exchange or other trading medium.
DOCUMENTS INCORPORATED BY REFERENCE: None.
As of December 31, 1999, the Registrant had 1,000,000 shares
of common stock issued and outstanding.
Transitional Small Business Disclosure Format (check one):
Yes No X .
PART I.
Item 1. Description of Business.
TheInternetCorp.net, Inc. (the "Company") was organized under the
laws of the State of Nevada on April 29, 1999, and has December
31 as its fiscal year end. Since inception, the primary activity
of the Company has been directed to organizational efforts. The
Company was formed as a vehicle to acquire a private company
desiring to become an SEC reporting company in order thereafter
to secure a listing on the OTC Electronic Bulletin Board. The
Company plans to capitalize on current technology and the
Internet to develop a direct-to-customer relationship in the
motorcycle news industry.
In May, 1999, the Company entered into an Agreement and Plan of
Reorganization to acquire RiderNews.com, Inc. ("Rider"), a
Florida corporation formerly known as Cycle-Parts.com, Inc. This
agreement provides for the Company to issue and register
10,660,000 shares of its common stock (post-split) to the
shareholders of Rider and reserve for issuance and register
2,000,000 shares of its common stock for issuance upon exercise
of Rider's outstanding warrants, which will be converted into
warrants to purchase the Company's common stock, upon the same
terms and conditions of the outstanding Rider warrants. The
Company has filed its Registration Statement on Form S-4 to
register the stock issuance described above. The Registration
Statement has not been declared effective and the Company has not
yet completed its acquisition of Rider.
Rider was incorporated in the State of Florida on March 16, 1999.
Rider's executive offices are located in Jacksonville, Florida.
Rider is a development stage company engaged in the development
and marketing of an online motorcycle and racing sports magazine
(called an "ezine") on the Internet.
Item 2. Description of Property.
None.
Item 3. Legal Proceedings.
The Company is not a party to any material pending legal
proceedings and, to the best of its knowledge, no such action by
or against the company has been threatened.
Item 4. Submission of Matters to a Vote of Security Holders.
None.
Part II
Item 5. Market Price for Common Equity and Related Stockholder
Matters.
(a) Market Information.
The Shares have not previously been traded on any securities
exchange. There is no common stock of the Company that is
subject to outstanding options or warrants to purchase, or
securities convertible into that stock. There are 1,000,000
common shares of the Company outstanding at December 31, 1999.
(b) Holders of Common Equity.
As of December 31, 1999, there was one shareholder of record of
the Company's common stock.
(c) Dividends.
The Company has not declared or paid any dividends. The Board of
Directors presently intends to retain any earnings to finance the
Company's operations and does not expect to authorize cash
dividends in the foreseeable future. Any payment of cash
dividends in the future will depend upon the Company's earnings,
capital requirements and other factors.
Item 6. Management's Discussion and Analysis or Plan of Operations.
The following discussion should be read in conjunction with the
financial statements of the Company and notes thereto contained
elsewhere in this report.
Initial Operation.
The Company has been engaged in organizational activities
since it was incorporated on April 29, 1999. On May 15, 1999,
the Company entered into an Agreement and Plan of Reorganization
(the "Agreement") with RiderNews.com, Inc. ("Rider"), formerly
known as Cycle-Parts.com, Inc., a Florida corporation, whereby
the Company is acquiring Rider in exchange for the issuance of
10,660,000 shares of the Company's common stock, post-split, plus
reserving for issuance an additional 2,000,000 shares of the
Company's common stock upon exercise of certain outstanding Rider
warrants. The Company is presently in the process of registering
the shares to be issued pursuant to the Agreement. Rider is a
development stage company which is developing an online magazine
(an "ezine") directed at motorcyclists.
Upon completion of the registration process, the Company intends
to concentrate its efforts on the development and enhancement of
the RiderNews web site (www.ridernews.com). These changes will
include additional information and articles of interest for
motorcycle enthusiasts. The Company intends to enhance
advertising revenues through the placement of additional
advertising on the web site.
The current cash in RiderNews is anticipated to be sufficient to
satisfy the cash needs of the Company after the completion of its
acquisition of RiderNews for approximately six months.
Thereafter, the Company will need to raise additional capital in
order to continue its operations. The Company anticipates that
such financing will likely consist of debt and equity financing.
However, there can be no assurance that such financing will be
available at all or on such terms as are acceptable to the
Company.
The Company has no present intentions of making significant
purchases of equipment in the next twelve months nor does it plan
to significantly change the number of employees presently
employed by RiderNews.
Liquidity and Capital Resources.
For the year ended December 31, 1999, the Company continued as a
development stage company. The Company continues to incur
limited development expenses, is deriving no revenues and has
experienced an ongoing deficit in working capital. The Company's
continued existence is dependent on its ability to obtain
additional financing to proceed with its proposed plan of
operations.
Capital Expenditures.
No material capital expenditures were made during the year ended
December 31, 1999.
Forward Looking Statements.
The foregoing Management's Discussion and Analysis contains
"forward looking statements" within the meaning of Rule 175 under
the Securities Act of 1933, as amended, and Rule 3b-6 under the
Securities Act of 1934, as amended, including statements
regarding, among other items, the Company's business strategies,
continued growth in the Company's markets, projections, and
anticipated trends in the Company's business and the industry in
which it operates. The words "believe," "expect,"
"anticipate", "intends," "forecast," "project," and similar
expressions identify forward-looking statements. These forward-
looking statements are based largely on the Company's
expectations and are subject to a number of risks and
uncertainties, certain of which are beyond the Company's control.
The Company cautions that these statements are further qualified
by important factors that could cause actual results to differ
materially from those in the forward looking statements,
including, among others, the following: reduced or lack of
increase in demand for the Company's products, competitive
pricing pressures, changes in the market price of ingredients
used in the Company's products and the level of expenses incurred
in the Company's operations. In light of these risks and
uncertainties, there can be no assurance that the forward-looking
information contained herein will in fact transpire or prove to
be accurate. The Company disclaims any intent or obligation to
update "forward looking statements".
Item 7. Financial Statements.
See the financial statements for the year ended December 31, 1999
attached hereto and incorporated herein by this reference.
Item 8. Changes in and Disagreements with Accountants on
Accounting and Financial Disclosure.
None.
Part III.
Item 9. Directors, Executive Officers, Promoters and Control
Persons; Compliance with Section 16(a) of the Exchange Act.
Identification of Directors and Executive Officers of the
Company.
The following table sets forth the names and ages of all
directors and executive officers of the Company and all persons
nominated or chosen to become a director, indicating all
positions and offices with the Company held by each such person
and the period during which he has served as a director:
The principal executive officers and directors of the Company are
as follows:
Name Position Term(s) of Office
Vincent van den Brink Director, CFO,CEO April, 29, 1999
to the present
Business Experience.
The following is a brief account of the business experience
during at the least the last five years of the director and
executive officer, indicating his principal occupation and
employment during that period, and the names and principal
businesses of the organizations in which such occupations and
employment were carried out.
Vincent van den Brink, President/Secretary/Sole Director. Mr.
van den Brink, age 58, has been President, Secretary and Director
of the Issuer since April 29, 1999. Since October 1997 to
present, he has been a Financial Consultant with Airway Capital,
Costa Mesa, California, providing asset based lending, factoring,
equipment leasing, and export financing for various businesses.
From June 1985 until May 1997, he was a Business Consultant
writing business plans and business development plans for
companies across the country. Since 1978 to present, in addition
to working for the above companies, he has been operating an
export business providing export consulting, exporting products
and sourcing products for international clients. He holds
degrees in automotive engineering, business administration, and
small business management. He is fluent in English, Dutch, German
and Afrikaans.
Upon completion of the acquisition of Rider, the following
persons have been nominated to serve as officers and directors of
the Company:
Karen Bohringer, President/Director ? RiderNews.com, Inc.
Ms. Bohringer, age 39, will serve as a Director of
TheInternetCorp.net, Inc. and RiderNews.com, Inc.. From 1990 to
present, she has been the owner of Bohringer & Associates, a
computer training company in Queensland, Australia. In 1983 Ms.
Bohringer moved to the United States to undertake computer
programming studies. In 1986 she received a Certificate with
Honors from Harvard University, Boston, MA in Advanced Cobol
Programming and a Diploma in 1985 from the American Institute of
Computer Programming in Atlanta, GA. Upon returning to
Australia, Ms. Bohringer lectured on programming languages at
Hales Private College, Melbourne, for 18 months. From 1987 to
1989, she was employed as the Australian Training Manager for MAI
Basic Four, an American computer hardware/software company, and
traveled extensive completing software installations and staff
training. In 1990, Ms. Bohringer formed Bohringer & Associates,
to do contract computer training for such companies as the
Australian Securities Commission, Australian Wool Corporation,
B.H.P., Shell Oil, the Supreme Court, the Premiers Department,
Director of Public Prosecutions, Department of Health, and the
Department of Housing. Ms. Bohringer has lectured as the Royal
Melbourne Institute of Technology on Pascal Programming.
Gerald I. Quinn, Vice President/Secretary/Director RiderNews.com, Inc..
Mr. Quinn, age 56, will be Vice-President, Secretary and a
Director of TheInternetCorp.net, Inc. and RiderNews.com, Inc..
From May, 1996 to the present, Mr. Quinn has served as Chief
Executive Officer and a Director of Wavetech International, Inc.,
a reporting public company. Prior to this, he was President of
Interpretel (Canada) Inc., a subsidiary of Wavetech, from 1995 to
1996. From 1986 to 1994, Mr. Quinn was Vice President of
University Affairs and Development at the University of Guelph,
one of Canada's leading teaching and research universities, where
he was responsible for marketing, image development, constituent
relations and media relations, including systems development,
telemarketing and the development of affinity programs. Since
1984, Mr. Quinn has served as a consultant to Cableshare
Interactive Technology, Inc., a Canadian Toronto Securities
Exchange listed public company that operates in the interactive
television industry and became a director in 1993. In 1997, Mr.
Quinn negotiated the acquisition of Cableshare by Source Media,
Inc. (NASDAQ: SRCM).
Terry Cuthberston, Director.
Mr. Cuthbertson, age 49, will serve as the President and a
Director of TheInternetCorp.net, Inc. and RiderNews.com, Inc..
From 1995 to 1999, Mr. Cuthbertson was the Director of Finance of
Tech Pacific Group, the largest distributors of information
technology and telecommunications products in the Asia-Pacific
region. Tech Pacific is part of the worldwide Hagemeyer Group of
the Netherlands. Hegemeyer is publicly listed on the Amsterdam
Stock Exchange with worldwide revenues exceeding U.S. $7 billion.
Prior to joining Tech Pacific, he spent the previous 25 years
with KPMG Peat Marwick, Sidney, Australia. While at KPMG, Mr.
Cuthberston worked as a partner in both Audit Services and KPMG
Corporate Services, where he was involved in company refinancing,
public offerings, acquisition reviews, and company restructuring
. He was made a director of KPMG Corporate (NSW) Pty. Ltd. in
1989. Mr. Cuthberston received a Bachelor of Business degree in
1981 from the New South Wales University of Technology, an
Accounting Procedures Certificate from St. George Technical
College, and is an Associate of the Institute of Chartered
Accountants in Australia.
Section 16(a) Compliance.
During the year ended December 31, 1999, the following persons
were officers, directors and more than ten-percent shareholders
of the Company's common stock:
Name Position Filed Reports
Vincent van den Brink CEO, Director, No
Shareholder, CFO
Item 10. Executive Compensation.
No officer or director of the Company presently receives any
remuneration. There is no annuity, profit sharing, pension or
retirement benefits proposed to be paid to officers, directors,
or employees of the Company in the event of retirement at normal
retirement date as there is no existing plan provided or
contributed to by the Company. No stock options are proposed to
be paid in the future directly or indirectly by the Company to
any officer or director as there is no such plan which presently
exists.
Item 11. Security Ownership of Certain Beneficial Owners and
Management.
The following table sets forth information regarding the
beneficial ownership of shares of the Company's common stock as
of December 31,1999 by all stockholders known to each company to
be beneficial owners of more than 5% of the outstanding common
stock; each director; and all officers and directors of the
Company as a group (each person has sole voting power and sole
dispositive power as to all of the shares shown as beneficially
owned by them):
Title of Name and Addess Amount of Percent of
Class of Beneficial Owner Beneficial Class
Ownership
Common
Stock Vincent van den Brink 1,000,000 100.0%
3158 Redhill Avenue
Suite 240
Costa Mesa, Ca 92626
Common
Stock Shares of all directors 1,000,000 100.0%
and executive officers
as a group (1 person)
Item 12. Certain Relationships and Related Transactions.
In April, 1999, the Company issued 1,000,000 of its common stock
to its sole Director and President, Mr. van den Brink in exchange
for the organizational services rendered to the company by him
In May, 1999, the Company entered into an Agreement and Plan of
Reorganization with RiderNews.com, Inc. whereby the Company
proposes to approve a 100-to-1 reverse split, reducing the number
of its issued and outstanding shares to 10,000 and issuing
10,660,000 to the shareholders of Rider as well as reserving for
issuance 2,000,000 shares of the Company's common stock for
issuance upon the exercise of 2,000,000 warrants of Rider which
will be converted to warrants for the Company's stock upon
completion of the Agreement. The Company has filed a
Registration Statement on Form S-4 which is not yet effective to
register the shares to be issued under this agreement.
Item 13. Exhibits and Reports on Form 8-K.
Financial Statements and Schedules
The following financial statements and schedules are filed as
part of this report:
Independent Auditors' Report
Balance Sheet
Statement of Operations
Statement of Stockholders Equity
Statement of Cash Flows
Notes to Financial Statements
List of Exhibits
The following exhibits are filed with this report.
Financial Statements.
Financial Data Schedule
Reports filed on Form 8-K.
There were no Reports filed on Form 8-K during the fourth quarter
of the Company's fiscal year ended December 31, 1998.
In accordance with Section 13 or 15(d) of the Exchange Act, the
registrant has caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
April 17, 2000 THEINTERNETCORP.NET, INC.
/s/ Vincent van den Brink
Vincent van den Brink, President, CFO
In accordance with the Exchange Act, this report has been signed
by the following persons on behalf of the registrant and in the
capacities and on the dates indicated.
April 17, 2000 /s/ Vincent van den Brink
Vincent van den Brink, Sole Director
INDEPENDENT AUDITORS' REPORT
Board of Directors
TheInternetCorp.net, Inc.
I have audited the accompanying balance sheet of
TheInternetCorp.net, Inc. (a development stage company), as of
December 31, 1999, and the related statements of operations,
stockholders? equity and cash flows for the period from inception
(April 29, 1999) to December 31, 1999. These financial
statements are the responsibility of the Company's management.
My responsibility is to express an opinion on these financial
statements based on my audit in accordance with standards
established by the American Institute of Certified Public
Accountants.
I conducted my audit in accordance with generally accepted
auditing standards. Those standards require that I plan and
perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement. An
audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An
audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating
the overall financial statement presentation. I believe that my
audit provides a reasonable basis for my opinion.
In my opinion, the financial statements referred to above present
fairly, in all material respects, the financial position of
TheInternetCorp.net, Inc. as of December 31, 1999 and the results
of its operations and its cash flows for the period from
inception (April 29, 1999 ) to December 31, 1999 in conformity
with generally accepted accounting principles.
Kurt D. Saliger C.P.A. (Nevada State License No. 2335)
Las Vegas, Nevada
March 28, 2000
TheInternetCorp.net, Inc.
(A Development Stage Company)
BALANCE SHEET
Dated December 31, 1999
(For the Period of April 29, 1999 to December 31, 1999)
December 31, 1999
ASSETS
CURRENT ASSETS:
Cash $ 0
Accounts Receivable $ 0
TOTAL CURRENT ASSETS $ 0
ORGANIZATIONAL COSTS, NET $ 0
TOTAL ASSETS $ 0
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts Payable $ 0
TOTAL CURRENT LIABILITIES $ 0
LONG-TERM DEBT $ 0
STOCKHOLDERS' EQUITY:
common stock, $.001 par value
authorized 50,000,000 shares issued
and outstanding at December 31, 1999,
1,000,000 shares $ 1,000
Stock Subscription Receivable $ (765)
Additional paid in Capital $ 0
Deficit Accumulated During Development Stage $ (235)
TOTAL STOCKHOLDERS' EQUITY $ 0
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 0
See accompanying notes to financial statements & audit report
TheInternetCorp.net, Inc.
(A Development Stage Company)
STATEMENT OF OPERATIONS
Dated December 31, 1999
(For the Period of April 29, 1999 to December 31, 1999)
INCOME:
Revenue $ 0
TOTAL INCOME $ 0
EXPENSES:
General, and Administrative $ 235
Amortization $ 0
Total Expenses $ 235
Net Profit/Loss(-) From Operations $ (235)
Interest Income $ 0
INCOME (LOSS) BEFORE INCOME TAXES $ (235)
Provision for income tax $ 0
NET INCOME (LOSS) $ (235)
NET INCOME (LOSS)PER SHARE-BASIC AND DILUTED $ 0.00
AVERAGE NUMBER OF SHARES OF COMMON STOCK
OUTSTANDING 1,000,000
See accompanying notes to financial statements & audit report
TheInternetCorp.net, Inc.
(A Development Stage Company)
STATEMENT OF STOCKHOLDERS' EQUITY
Dated December 31, 1999
(For the Period of April 29, 1999 to December 31, 1999)
Common Stock Additional (Deficit)
Shares Amount paid-in Accumulatd
Capital During
Development
Stage
Issued for
cash and
organizational costs
April 29, 1999 1,000,000 $1,000 $ 0
Stock Subscription
Receivable $ (765)
Net Income April 29
1999 (inception) to
December 31, 1999 $ (235)
Balance December 31
1999 1,000,000 $ 235 $ 0 $ (235)
See accompanying notes to financial statements & audit report
TheInternetCorp.net, Inc.
(A Development Stage Company)
STATEMENT OF CASH FLOWS
Dated December 31, 1999
(For the Period of April 29, 1999 to December 31, 1999)
Cash Flows from Operating Activities:
Net Income $ (235)
(Increase) Amortization $ 0
Net Cash (Used) In Operating Activities $ (235)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of organizational
Costs $ 0
CASH FLOWS FROM FINANCING ACTIVITIES
Issuance of common stock for cash $ 235
Net Increase in Cash $ 0
Cash, April 29, 1999 $ 0
Cash, December 31, 1999 $ 0
See accompanying notes to financial statements & audit report
TheInternetCorp.net, Inc.
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
Dated December 31, 1999
(For the Period of April 29, 1999 to December 31, 1999)
NOTE 1 - HISTORY AND ORGANIZATION OF THE COMPANY.
TheInternetCorp.net, Inc. was incorporated on April 29, 1999
under the laws of the State of Nevada. TheInternetCorp.net, Inc.
was organized to engage in any lawful activity.
TheInternetCorp.net, Inc. currently has no operations and, in
accordance with SFAS #7, is considered a development stage company.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES.
Accounting Method.
TheInternetCorp.net, Inc. records income and expenses on the
accrual method.
Estimates.
The preparation of financial statements in conformity with
generally accepted accounting principles requires management to
make estimates and assumptions that affect the reported amounts
of assets and liabilities and disclosure of contingent assets and
liabilities at the date of the financial statements and the
reported amounts of revenue and expenses during the reporting
period. Actual results could differ from those estimates.
Organizational Costs.
Organizational costs are stated at cost and have been expensed as
incurred.
Income Taxes.
Income taxes are provided for using the liability method of
accounting in accordance with Statement of Financial Accounting
Standards No. 109, (SFAS #109), "Accounting for Income Taxes". A
deferred tax asset or liability is recorded for all temporary
difference between financial and tax reporting. Deferred tax
expense (benefit) results from the net change during the year of
deferred tax assets and liabilities.
Loss Per Share.
Net loss per share is provided in accordance with Statement of
Financial Accounting Standards No. 128, (SFAS #128), "Earnings
Per Share". Basic loss per share is computed by dividing losses
available to common stockholders by the weighted average number
of common shares outstanding during the period. Diluted loss per
share reflects per share amounts that would have resulted if
dilative common stock equivalents had been converted to common
stock. As of December 31, 1999, TheInternetCorp.net, Inc. had no
dilative common stock equivalents such as stock options.
NOTE 3- INCOME TAXES.
There is no provision for income taxes for the period ended April
29, 1999 (inception) to December 31, 1999 due to the zero net
income and no Nevada state Income tax in the state of
TheInternetCorp.net, Inc. domicile.
NOTE 4- SHAREHOLDERS? EQUITY.
Common Stock.
The authorized common stock of TheInternetCorp.net, Inc. consists
of 50,000,000 shares with a par value of $0.001 per share.
Preferred Stock.
The authorized Preferred Stock of TheInternetCorp.net, Inc.
consists of 10,000,000 shares with a par value of $0.001 per
share.
NOTE 5 - MERGER AGREEMENT.
In May of 1999, RiderNews.com, Inc. entered into a merger
agreement with TheInternetCorp.net, Inc. Pursuant to terms of
the agreement, RiderNews.com, Inc.?s shareholders will be issued
one share of TheInternetCorp.net, Inc.?s common stock in exchange
for each share of their common stock in RiderNews.com, Inc.
NOTE 6 - RELATED PARTY TRANSACTIONS.
TheInternetCorp.net, Inc. neither owns nor leases any real or
personal property. Office services are provided without charge
by the sole director of this company. Such costs are immaterial
to the financial statements and accordingly have not been
reflected therein. The sole director of TheInternetCorp.net,
Inc. is involved in other business activities and may, in the
future, become involved in other business opportunities. If a
specific business opportunity becomes available, such person may
face a conflict in selecting between TheInternetCorp.net, Inc.
and the other business interests. TheInternetCorp.net, Inc. has
not formulated a policy for the resolution of such conflicts.
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<LEGEND>THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM THE REGISTRANT'S FORM 10-KSB AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
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<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<CASH> 0
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 0
<DEPRECIATION> 0
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<COMMON> 1,000
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<OTHER-EXPENSES> 235
<LOSS-PROVISION> 0
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<INCOME-PRETAX> (235)
<INCOME-TAX> 0
<INCOME-CONTINUING> (235)
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