Securities and Exchange Commission
Washington, D.C. 20549
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Form 10
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GENERAL FORM FOR REGISTRATION OF SECURITIES
PURSUANT TO SECTION 12(b) OR 12(g) OF
THE SECURITIES EXCHANGE ACT OF 1934
PACIFIC WEBWORKS, INC.
(Exact name of registrant as specified in its charter)
NEVADA 87-0627910
(State of incorporation) (I. R. S. Employer Identification No.)
180 South 300 West, Suite 400
Salt Lake City, Utah 84101
(801) 578-9020
(Address and telephone number of registrant's principal
executive offices and principal place of business)
Securities to be registered pursuant to Section 12(b) of the Act:
None
_______________________________________________________
Securities to be registered pursuant to Section 12(g) of the Act:
Common Stock, par value $.001 per share
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INDEPENDENT AUDITOR'S REPORT
To the Board of Directors and Stockholders of
Pacific WebWorks, Inc.
We have audited the accompanying balance sheets of Pacific WebWorks, Inc. as of
December 31, 1998 and 1997 and the related statements of operations,
stockholders' equity and cash flows for the years then ended. These financial
statements are the responsibility of the Company's management. Our
responsibility is to express an opinion on these financial statements based on
our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audits 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.
We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of Pacific WebWorks, Inc. as of
December 31, 1998 and 1997 and the results of its operations and cash flows for
the years then ended in conformity with generally accepted accounting
principles.
The accompanying financial statements have been prepared assuming that the
Company will continue as a going concern. As discussed in Note 2 to the
financial statements, the Company has had recurring operating losses and is
dependent upon financing to continue operations. These factors raise substantial
doubt about its ability to continue as a going concern. Management's plans in
regard to these matters are also described in the Note 2. The financial
statements do not include any adjustments that might result from the outcome of
this uncertainty.
CROUCH, BIERWOLF & CHISHOM
Salt Lake City, Utah
January 26, 1998
