UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND
EXCHANGE ACT OF 1934
For the Quarter ended March 31, 2000.
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THEE EXCHANGE ACT
For the transition period _____________ to _____________
Commission file number 0-26359
LAL MIAMI ENTERPRISES, INC.
(Exact name of Small Business Company in its charter)
NEVADA 59-3356011
(State or other jurisdiction of (IRS Employer incorporation or organization)
Identification No.)
3355 Somerset Trace,
Marietta, GA 30067
(Address of principal executive offices)
Registrant's Telephone number, including area code: (770) 953-6439
Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities and Exchange Act of 1934
during the preceding twelve months (or such shorter period that the Registrant
was required to file such reports), and (2) has been subject to file such filing
requirements for the past thirty days.
Yes [ ] No [ X ]
Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the close of the period covered by this report: 5,000,000
Shares of Common Stock ($.001 par value)
Transitional Small Business Disclosure Format (check one):
Yes [ ] No [ X ]
LAL MIAMI ENTERPRISES, INC.
<PAGE>
PART I: Financial Information
ITEM 1 - Financial statements
ITEM 2 - Management's' discussion and analysis of
financial condition and results of operations
PART II: Other Information
LAL MIAMI ENTERPRISES, INC.
---------------------------
(A DEVELOPMENT STATE COMPANY)
-----------------------------
BALANCE SHEET
-------------
March 31, 2000
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ASSETS
------
Current Assets:
---------------
Total Current Assets $ -
-------
TOTAL ASSETS $ -
=======
LIABILITIES AND STOCKHOLDERS' EQUITY
---------------------------------------
Current Liabilities:
--------------------
Total Current Liabilities $ -
-------
TOTAL LIABILITIES $ -
----- -------
Stockholders' Equity:
---------------------
Capital Stock -
Common stock, $.00005 par value
200,000 shares authorized,
5,000,000 shares issued and outstanding 2,000
Capital in excess of par value
(Deficit) accumulated during development stage (2,600)
-------
Total Stockholders' Equity $ -
-------
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY $ -
=======
See accompanying Notes to Financial Statements.
<PAGE>
<TABLE>
<CAPTION>
LAL MIAMI ENTERPRISES, INC.
---------------------------
(A DEVELOPMENT STAGE COMPANY)
-----------------------------
STATEMENTS OF OPERATIONS AND RETAINED EARNINGS (DEFICIT)
--------------------------------------------------------
FOR THE THREE MONTHS ENDED MARCH 31, 2000 AND 1999
--------------------------------------------------
THREE MONTHS ENDED THREE MONTHS ENDED
------------------ ------------------
MARCH 31, 2000 MARCH 31, 1999
<S> <C> <C>
Operating Expenses $ - $ -
------------------ ------------------
Income (loss) from operations $ - $ -
RETAINED EARNINGS
(DEFICIT), BEGINNING
OF PERIOD (2,600) (2,000)
------------------ ------------------
RETAINED EARNINGS
(DEFICIT), END OF
PERIOD $ (2,600) $ (2,000)
================== ==================
Per share information:
Basic and diluted (loss)
per common share $ - $ -
================== ==================
Weighted average shares
outstanding 5,000,000 5,000,000
================== ==================
</TABLE>
See accompanying Notes to Financial Statements.
<PAGE>
LAL MIAMI ENTERPRISES, INC.
---------------------------
(A DEVELOPMENT STAGE COMPANY)
-----------------------------
STATEMENT OF CASH FLOWS
-----------------------
FOR THE THREE MONTHS ENDED MARCH 31, 2000 AND 1999
--------------------------------------------------
2000 1999
---- ----
Cash Flows From Operating Activities:
----------------------------------------
Net Income (Loss) $ - $ -
Adjustments to reconcile net income to net cash
provided by operating activities - -
---- ----
Net Cash Provided By (Used By)
Operating Activities $ - $ -
---- ----
Cash Flows From Investing Activities:
----------------------------------------
Net cash provided by (used in) investing activities $ - $ -
---- ----
Cash Flows From Financing Activities:
----------------------------------------
Net cash provided by (used in) financing activities $ - $ -
---- ----
Net increase in cash and cash equivalents $ - $ -
Cash and Cash Equivalents at the
Beginning of the Period - -
---- ----
Cash and Cash Equivalents at the
End of the Period $ - $ -
==== ====
Additional Cash Flow Information:
-----------------------------------
Cash paid during the period for:
Interest (noncapitalized) $ - $ -
Income taxes $ - $ -
See accompanying Notes to Consolidated Financial Statements.
<PAGE>
LAL MIAMI ENTERPRISES, INC.
---------------------------
NOTES TO FINANCIAL STATEMENTS
-----------------------------
FOR THE THREE MONTHS ENDED MARCH 31, 2000
-----------------------------------------
Notes to Financial Statements
--------------------------------
Organization
The Company was incorporated in Nevada on April 4, 1997. The Company is in
its development stage and to date its activities have been limited to
organization and capital formation.
Basis of Presentation
The accompanying condensed unaudited financial statements have been
prepared in accordance with generally accepted accounting principles for interim
financial information and with the instructions to form 10-QSB. Accordingly,
they do not include all of the information and footnotes required by generally
accepted accounting principles for complete financial statements. In the opinion
of management, all adjustments (consisting of normal recurring adjustments)
considered necessary for a fair presentation have been included. The results of
operations for the periods presented are not necessarily indicative of the
results to be expected for the full year. The accompanying financial statements
should be read in conjunction with the Company's form 10K-SB filed for the year
ended December 31, 1999.
Stockholders' Equity
Basic (loss) per share was computed using the weighted average number of
common shares outstanding. During the period ended March 31, 2000 the Company
recorded $2,000, as the fair value services provided by its president for
management of the Company and for the provision of office space and related
administrative services. This amount has been accounted for as a capital
contribution to the Company by its president.
<PAGE>
Item 2. Management's Discussion and Analysis of Financial
Condition and Results of Operations:
Plan of Operation
-------------------
LAL Miami Enterprises, Inc. (the "Company") was organized under the laws
of the State of Nevada to engage in any lawful business. The Company was formed
for the purpose of creating a vehicle to obtain capital to take advantage of
business opportunities that may have potential for profit. Management of the
Company has unlimited discretion in determining the business activities in which
the Company will become engaged. Such companies are commonly referred to as
"blind pool/blank check" companies. There is and can be no assurance that the
Company will be able to acquire an interest in any such opportunities that may
exist or that any activity of the Company, even after any such acquisition, will
be profitable.
The Company has generated no revenues from its operations and has been a
development stage company since inception. Since the Company has not generated
revenues and has never been in a profitable position, it operates with minimal
overhead.
During the period of this report, the Company has not engaged in any
preliminary efforts intended to identify any possible acquisitions nor entered
into a letter of intent concerning any business opportunity.
Liquidity and Capital Resources
----------------------------------
At March 31, 2000, the Company had no material cash or other assets with
which to conduct operations. There can be no assurance that the Company will
be able to complete its business plan and to exploit fully any business
opportunity that management may be able to locate on behalf of the Company.
Due to the lack of a specified business opportunity, the Company is unable
to predict the period for which it can conduct operations. Accordingly, the
Company will need to seek additional financing through loans, the sale and
issuance of additional debt and/or equity securities, or other financing
arrangements. Management of the Company has advised that they will pay
certain costs and expenses of the Company from their personal funds as
interest free loans in order to facilitate development of the Company's
business plan. Management believes that the Company has inadequate working
capital to pursue any operations at this time; however, loans to the Company
from management may facilitate development of the business plan. For the
foreseeable future, the Company through its management intends to pursue
acquisitions as a means to develop the Company. The Company does not intend to
pay dividends in the foreseeable future. As of the end of the reporting period,
the Company had no material cash or cash equivalents. There was no
significant change in working capital during this quarter.
Year 2000 Issues
------------------
The Company did not encounter any Y2K problems.
PART II--OTHER INFORMATION
<PAGE>
Item 1. Legal Proceedings.
There are no pending legal proceedings, and the Company is not aware of any
threatened legal proceedings, to which the Company is a party or to which its
property is subject.
Item 2. Changes in Securities.
(a) There have been no material modifications in any of the instruments
defining the rights of the holders of any of the Company's registered
securities.
(b) None of the rights evidenced by any class of the Company's registered
securities have been materially limited or qualified by the issuance or
modification of any other class of the Company's securities.
Item 3. Defaults Upon Senior Securities.
(Not applicable)
Item 4. Submission of Matters to a Vote of Security Holders.
(Not applicable)
Item 5. Other Information.
(Not applicable)
Item 6. Exhibits and Reports on Form 8-K.
(a) Exhibits
No exhibits as set forth in Regulation SB, are considered necessary for
this filing.
(b) Reports on Form 8-K
None.
<PAGE>
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
Undersigned thereunto duly authorized.
Date: June 12, 2000 /s/ Michael H. Fridovich
--------------- ----------------------------------
Michael H. Fridovich, President
<PAGE>
