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Previous: EYE CATCHING MARKETING CORP, 10QSB, 2000-05-15 |
Next: EXPRESS INVESTMENTS ASSOCIATES INC, 10QSB, 2000-05-15 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-QSB
[xx] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2000
Commission file Number: 000-27397
NEWSGURUS.COM, INC.
(FORMERLY ANNEX BUSINESS RESOURCES, INC.)
(Exact name of small business issuer as specified in its charter)
Nevada
(State or other jurisdiction of incorporation or organization)
98-0204280
(I.R.S. Employer Identification Number)
5774 Deadpine Drive
Kelowna, British Columbia
V1P 1A3
(Address of principal executive offices)
(250)765-6424
(Issuer's telephone number)
State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date: 9,290,000 common shares as at March
31, 2000
Transitional Small Business Disclosure Format (check one): Yes [ ] No [ X ]
<PAGE>
2
NEWSGURUS.COM, INC.
(formerly Annex Business Resources Inc.)
INDEX
PART 1. FINANCIAL INFORMATION
Item 1. Financial Statements
Consolidated Balance Sheets as of June 30, 1999 and March 31,
2000
Consolidated Income Statement for the periods ended June 30,
1999 and March 31, 2000
Consolidated Statements of Cash Flows for the periods ended
June 30, 1999 and March 31, 2000
PART II. OTHER INFORMATION
SIGNATURES
<PAGE>
3
NEWSGURUS.COM, INC.
(A DEVELOPMENT STAGE COMPANY)
CONSOLIDATED BALANCE SHEET
PREPARED BY MANAGEMENT WITHOUT AUDIT
<TABLE>
<CAPTION>
AS AT AS AT
MARCH 31 JUNE 30
2000 1999
----------------------
<S> <C> <C>
ASSETS
Bank $124,410 $0
Accounts receivable 200 0
Investment 0 0
Capital assets 2,529 0
Web site development costs 54,621 0
Goodwill 2,796 0
---------------------
TOTAL ASSETS $184,557 $0
=====================
LIABILITIES
Accounts payable and accrued liabilities $37,432 $235
---------------------
SHAREHOLDERS' EQUITY
Capital Stock
Authorized
50,000,000 common shares with a par value of $0.001
25,000,000 preferred shares with a par value of $0.001
Issued and outstanding
9,290,000 common shares (June 30, 1999 - 7,000,000 common shares) 9,290 1,000
Additional paid in capital 199,129 0
Deficit accumulated during the development stage (61,294) (1,235)
---------------------
147,125 (235)
---------------------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $184,557 $0
=====================
</TABLE>
<PAGE>
4
NEWSGURUS.COM, INC.
(A DEVELOPMENT STAGE COMPANY)
CONSOLIDATED INCOME STATEMENT
PREPARED BY MANAGEMENT WITHOUT AUDIT
<TABLE>
<CAPTION>
FROM MAY 16, 1997 FOR THE NINE FOR THE
(INCORPORATION) MONTHS ENDED YEAR ENDED
TO MARCH 31 MARCH 31 JUNE 30
2000 2000 1999
---------------------------------------------
<S> <C> <C> <C>
REVENUE $0 $0 $0
---------------------------------------------
EXPENSES
Amortization 588 588 0
Bank charges 92 92 0
Licenses and fees 744 509 235
Office 1,409 909 500
Professional fees 53,283 53,283 0
Telephone 26 26 0
Travel and promotion 2,407 2,407 0
---------------------------------------------
58,549 57,814 735
---------------------------------------------
NET LOSS FOR THE PERIOD $(58,549) $(57,814) $(735)
=============================================
Basic (Loss) Per Common Share $(0.01) $(0.01)
===========================
Basic Common Shares Outstanding 9,290,000 1,000,000
---------------------------
</TABLE>
<PAGE>
5
NEWSGURUS.COM, INC.
(A DEVELOPMENT STAGE COMPANY)
CONSOLIDATED STATEMENT OF CASH FLOWS
PREPARED BY MANAGEMENT WITHOUT AUDIT
<TABLE>
<CAPTION>
FROM MAY 16, 1997 FOR THE NINE FOR THE
(INCORPORATION) MONTHS ENDED YEAR ENDED
TO MARCH 31 MARCH 31 JUNE 30
2000 2000 1999
---------------------------------------------
<S> <C> <C> <C>
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss for the period $(58,549) $(57,814) $(235)
Items not affecting cash:
Amortization 588 588 $0
Stock issued for services 4,000 3,500 $0
Changes in working capital items:
Increase in accounts receivable (200) (200) 0
Increase in accounts payable 37,432 37,197 235
---------------------------------------------
(16,729) (16,729) 0
---------------------------------------------
CASH FLOWS FROM FINANCING ACTIVITIES
Share capital $196,148 196,148 0
---------------------------------------------
CASH FLOWS FROM INVESTING ACTIVITIES
Capital assets 2,763 2,763 0
Web site development costs (54,622) (54,622) 0
Goodwill (3,150) (3,150)
---------------------------------------------
(55,009) (55,009)
---------------------------------------------
CHANGE IN CASH POSITION DURING THE PERIOD 124,410 124,410 0
Cash position, beginning of period 0 0 0
---------------------------------------------
CASH POSITION, END OF PERIOD $124,410 $124,410 $0
=============================================
- ---------------------------------------------------------------------------------------------------------------
Supplemental disclosure with respect to cash flows
Cash paid for income taxes $0 $0 $0
Cash paid for interest $0 $0 $0
- ---------------------------------------------------------------------------------------------------------------
Supplemental disclosure of non-cash operating, investing,
and financing activities:
Common shares issued for services $4,000 $3,500 $0
Common shares issued for takeover $3,500 $3,500 $0
- ---------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
6
PART II
OTHER INFORMATION
Item 1. LEGAL PROCEEDINGS
None
Item 2 CHANGES IN SECURITIES AND USE OF PROCEEDS
None
Item 3 DEFAULTS UPON SENIOR SECURITIES
None
Item 4 SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
None
Item 5 OTHER INFORMATION
None
Item 6 EXHIBITS AND REPORTS ON FORM 8-K
(a) Exhibits
Exhibit 27.1 Financial Data Schedule
(b) Reports on Form 8-K
The Issuer filed a Form 8K on January 13, 2000 and on
February 2, 2000.
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.
NEWSGURUS.COM, INC.
(formerly Annex Business Resources Inc.)
Dated: May 12, 2000 Per: /s/ Chris Bunka
------------------------------
Chris Bunka, President and Director
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
UNAUDITED FINANCIAL STATEMENTS FOR THE NINE MONTH PERIOD ENDED MARCH 31, 2000
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS
</LEGEND>
<CIK> 0001088211
<NAME> NEWSGURUS.COM, INC.
<MULTIPLIER> 1
<CURRENCY> US
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-START> JAN-01-2000
<PERIOD-END> MAR-31-2000
<EXCHANGE-RATE> 1
<CASH> 124,410
<SECURITIES> 0
<RECEIVABLES> 200
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 124,610
<PP&E> 2,763
<DEPRECIATION> 234
<TOTAL-ASSETS> 184,557
<CURRENT-LIABILITIES> 37,432
<BONDS> 0
0
0
<COMMON> 9,290
<OTHER-SE> 137,835
<TOTAL-LIABILITY-AND-EQUITY> 184,557
<SALES> 0
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 57,814
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> (57,814)
<INCOME-TAX> 0
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (57,814)
<EPS-BASIC> (0.01)
<EPS-DILUTED> (0.01)
</TABLE>
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