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Tarja Morado
PRESIDENT
eStaff.com, Inc.
24843 Del Prado, #318
Dana Point, CA 92629
(Name and Address of Person Authorized to Receive Notices
and Communications on Behalf of the Person Filing Statement)
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WITH A COPY TO:
KARL E. RODRIGUEZ, ESQ
34700 Pacific Coast Highway, Suite 300
Capistrano Beach, CA 92624
(949) 248-9561
fax (949) 248-1688
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FORM 10-QSB
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
Commission File Number: 0-31467
For the Quarter ended December 31, 2000
eStaff.com, Inc.
Nevada 91-1979826
(Jurisdiction of Incorporation) (I.R.S. Employer Identification No.)
24843 Del Prado, Suite 318, Dana Point California, 92629
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (949) 248-1765
The following Securities are to be registered pursuant to Section 12(g) of the
Act:
Class-A Common Voting Equity Stock
25,435,000
Yes [X] No [ ] (Indicate by check mark whether the Registrant (1) has filed
all report 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) has been subject
to such filing requirements for the past 90 days.)
As of December 31, 2000, the number of shares outstanding of the Registrant's
Common Stock was 25,435,000.
1
<PAGE>
PART I: FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS.
Attached hereto and incorporated herein by this reference are the following
financial statements:
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Exhibit FINANCIAL STATEMENTS
--------------------------------------------------------------------------------
00-QF3 Un-Audited Financial Statements for the three months and nine months
ended December 31, 2000.
--------------------------------------------------------------------------------
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.
(A) PLAN OF OPERATION.
(1) CASH REQUIREMENTS AND OF NEED FOR ADDITIONAL FUNDS, TWELVE MONTHS.
This Registrant has certain limited need for additional funding, during the next
twelve months. We would estimate the maximum need for working and start up
capital would not exceed a total of $100,000. We have receivables of $50,000
which we expect to realize in cash within the next three months. Accordingly we
would expect to seek additional private placements, not to exceed a second
$50,000 within the next twelve months.
Our $54,499 total assets consist of about $4,499 in cash, and the $50,000
in receivables (see Note 4, of our Audited Financial Statements. We made a
related party loan of $50,000, in exchange for some intangible assistance, at a
time when our cash was not productive. Although the note which underlay this
loan did not provide for interest, the parties intended and have agreed to
impute a 5% per annum interest rate to these funds. Management anticipates no
difficulty in securing timely repayment, within the next three months.
(2) SUMMARY OF PRODUCT RESEARCH AND DEVELOPMENT. None.
(3) EXPECTED PURCHASE OR SALE OF PLANT AND SIGNIFICANT EQUIPMENT. None.
(4) EXPECTED SIGNIFICANT CHANGE IN THE NUMBER OF EMPLOYEES. None at this
time.
(B) DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
(1) OPERATIONS AND RESULTS FOR THE PAST TWO FISCAL YEARS. eStaff.com,
Inc. was organized on April 21, 1999, to become an employee leasing
organization. We are currently focusing on raising capital to develop our
operations. (See Audited Financial Statements, Note 1(a). Our Financial
Statements have been prepared assuming that we will continue as a going concern.
We have few assets and no operations, and we are dependent upon financing to
continue operations. The financial statements do not include any adjustments
that might result from the outcome of this uncertainty. It is management's plan
to raise capital in order to pursue our business operations to create revenues.
(See Audited Financial Statements, Note 2.) We are a development stage company
as defined in Financial Accounting Standards Board Statement No. 7. We are
concentrating substantially all of our efforts in raising capital and defining
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our business operation in order to generate revenues. (See Audited Financial
Statements, Note 3.)
SELECTED FINANCIAL INFORMATION. The following tabular information
summarizes information drawn from our financial statements. We have not launched
any operations, and our activities to date have been entirely organizational,
and legal and professional in connection with our auditing, preparation and
filing of this 1934 Act Registration Statement. Our financial condition is
substantially unchanged during the nine months of the current fiscal year. We
have incurred legal and professional fees in the nine months of fiscal year
2000, including auditing expenses, in connection with our 1934 Act Registration.
Balance Sheet: . . . . . December 31 March 31
Selected Information . . 2000 2000
-------------------------------------------------
Cash and Equivalents . . 4,999 4,999
Note Receivable. . . . . 50,000 50,000
Current Assets . . . . . 54,999 54,999
======================== ============ =========
Total Assets . . . . . . 54,999 54,999
======================== ============ =========
Accounts Payable . . . . 13,422 0
Total Liabilities. . . . 13,422 0
======================== ============ =========
Common Stock . . . . . . 25,435 25,425
Paid-in Capital. . . . . 81,440 80,450
Accumulated Deficit. . . (65,798) (51,376)
Total Equity . . . . . . 41,077 54,499
======================== ============ =========
Total Liabilities/Equity 54,499 54,499
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
Inception
3/24/99
Operations. . To
Third Quarter. . . . . . . . . . . Three Months to 12/31 Nine Months to 12/31 12/31/00
2000 1999 2000 1999 2000
------------------------------------------------------------------------------------------------------------------
Revenues:. . . . . . . . . . . . . . 0 0 1,000 0 1,000
Total Expenses . . . . . . . . . . . (699) (39,576) (15,422) (51,376) (66,798)
Net (Loss) . . . . . . . . . . . . . (699) (39,576) (14,422) (51,376) (65,798)
Net (Loss) Per Share . . . . . . . . (.00003) (.0002) (.0006) (.002)) (.003)
Weighted Average Shares Outstanding. 25,425,000 21,235,675 25,425,000 21,235,675 24,219,000
</TABLE>
3
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PART II: OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS. None.
ITEM 2. CHANGE IN SECURITIES. None.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES. None.
ITEM 4. SUBMISSION OF MATTERS TO VOTE OF SECURITY HOLDERS. None.
ITEM 5. OTHER INFORMATION. None.
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K. None.
EXHIBIT INDEX
--------------------------------------------------------------------------------
Exhibit FINANCIAL STATEMENTS
--------------------------------------------------------------------------------
00-QF3 Un-Audited Financial Statements for the three months and nine months
ended December 31, 2000.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, this
Form 10-QSB Report for the Quarter ended December 31, 2000, has been signed
below by the following person on behalf of the Registrant and in the capacity
and on the date indicated.
Dated: January 16, 2001
ESTAFF.COM, INC
by
/s/Tarja Morado
Tarja Morado
sole initial officer/director
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--------------------------------------------------------------------------------
EXHIBIT OO-QF3
FINANCIAL STATEMENTS
UN-AUDITED FINANCIAL STATEMENTS FOR THE THREE MONTHS AND NINE MONTHS ENDED
DECEMBER 31, 2000.
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5
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ESTAFF.COM, INC.
BALANCE SHEETS (UNAUDITED)
December 31, and March 31, 2000
<TABLE>
<CAPTION>
<S> <C> <C>
December 31, March 31,
2000 2000
(Unaudited)
-----------------------------------------------------------------------------------
ASSETS
CURRENT ASSETS
Cash . . . . . . . . . . . . . . . . . . . . . . . . . $ 4,499 $ 4,499
Note Receivable - Related Party (Note 4) . . . . . . . $ 50,000 $ 50,000
-----------------------------------------------------------------------------------
TOTAL CURRENT ASSETS . . . . . . . . . . . . . . . . . 54,499 54,499
-----------------------------------------------------------------------------------
TOTAL ASSETS . . . . . . . . . . . . . . . . . . . . . $ 54,499 $ 54,499
===================================================================================
LIABILITIES & STOCKHOLDERS' EQUITY
LIABILITIES
Accounts payable . . . . . . . . . . . . . . . . . . . $ 13,422 $ 0
-----------------------------------------------------------------------------------
Total accounts payable . . . . . . . . . . . . . . . . 13,422 0
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STOCKHOLDERS' EQUITY
Common Stock, $.001 par value; authorized 100,000,000
shares; issued and outstanding, 25,435,000 shares
and 25,425,000 shares respectively. . . . . . . . . 25,435 25,425
Additional paid in capital . . . . . . . . . . . . . . 81,440 80,450
Accumulated Deficit. . . . . . . . . . . . . . . . . . (65,798) (51,376)
Total Stockholders' Equity . . . . . . . . . . . . . . 41,077 54,499
-----------------------------------------------------------------------------------
TOTAL STOCKHOLDERS' EQUITY . . . . . . . . . . . . . . $ 54,499 $ 54,499
===================================================================================
</TABLE>
The accompanying notes are an integral part of these financial statements.
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ESTAFF.COM, INC.
STATEMENT OF OPERATIONS (UNAUDITED)
For the periods ended December 31, 1999 and 2000
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
From
Inception on
From October From October From April From April April 21,
1, 2000 to. 1, 1999 to 1, 2000 to 21, 1999 to 1999 through
December 31, . December 31, December 31, December 31, December 31,
2000 1999 2000 1999 2000
------------------------------------------------------------------------------------------------------------
Revenues. . . . . . . . . $ 0 $ 0 $ 1,000 $ 0 $ 1,000
------------------------------------------------------------------------------------------------------------
Total Expenses. . . . . . 699 39,576 15,422 51,376 66,798
------------------------------------------------------------------------------------------------------------
Net Loss from Operations. (699) (39,576) (14,422) (51,376) (65,798)
Net Income (Loss) . . . . ($699) ($39,576) ($14,422) ($51,376) ($65,798)
============================================================================================================
Loss per Share. . . . . . $ (0.00003) $ (0.00186) $ (0.00057) $ (0.00242) $ (0.00272)
============================================================================================================
Weighted Average
Shares Outstanding. . 25,425,000 21,235,675 25,425,000 21,235,675 24,219,000
============================================================================================================
</TABLE>
The accompanying notes are an integral part of these financial statements.
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ESTAFF.COM, INC.
STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT)(UNAUDITED)
For the period from inception of the Development Stage
On April 21, 1999, through March 31, 2000
And for the nine months ended December 31, 2000
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
Additional Accumulated Total Stock-
Common Par Paid-In Equity holders' Equity
Stock Value Capital (Deficit) (Deficit)
Common Stock issued at inception 15,375,000 $ 15,375 ($10,000) $ 0 $ 5,375
Common Stock sold for cash . . . 10,050,000 10,050 90,450 0 0
Net Loss for the period. . . . . 0 0 0 (51,376) 0
---------------------------------------------------------------------------------------------------------
Balance at March 31, 2000. . . . 25,425,000 $ 25,425 $ 80,450 ($51,376) $ 54,499
Common Stock issued for services 10,000 10 990 0 0
Net Loss for the nine months
ended December 31, 2000. . . 0 0 0 (14,422) 0
---------------------------------------------------------------------------------------------------------
Balance at December 31, 2000 . . 25,435,000 $ 25,435 $ 81,440 ($65,798) $ 41,077
=========================================================================================================
</TABLE>
The accompanying notes are an integral part of these financial statements.
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ESTAFF.COM, INC.
STATEMENTS OF CASH FLOWS (UNAUDITED)
For the periods ended December 31, 1999 and 2000
<TABLE>
<CAPTION>
<S> <C> <C> <C>
From
Inception on
April 21,
For the periods .1999 through
ended December 31, December 31,
2000 1999 2000
---------------------------------------------------------------------------------------
Net Loss. . . . . . . . . . . . . . . . . . ($14,422) ($51,376) ($65,798)
---------------------------------------------------------------------------------------
Adjustments: Stock for services . . . . . . $ 1,000 $ 5,375 $ 6,375
---------------------------------------------------------------------------------------
Net cash from operating activities. . . . . ($13,422) ($46,001) ($59,423)
---------------------------------------------------------------------------------------
Cash paid for note receivable-Related Party $ 0 $ 0 ($50,000)
---------------------------------------------------------------------------------------
Net cash (used) by investing activities . . $ 0 ($50,000) ($50,000)
---------------------------------------------------------------------------------------
Issued common stock for cash. . . . . . . . 0 $ 100,500 $ 100,500
---------------------------------------------------------------------------------------
Net cash from increase in accounts payable. $ 13,422 $ 0 $ 13,422
---------------------------------------------------------------------------------------
Net cash provided by financing activities . $ 0 $ 0 $ 113,922
---------------------------------------------------------------------------------------
Net increase (decrease) in cash . . . . . . 0 4,499 4,499
Cash beginning of period. . . . . . . . . . $ 4,499 $ 0 $ 0
---------------------------------------------------------------------------------------
Cash end of period. . . . . . . . . . . . . $ 4,499 $ 4,499 $ 4,499
=======================================================================================
</TABLE>
The accompanying notes are an integral part of these financial statements.
9
<PAGE>
ESTAFF.COM, INC.
NOTES TO FINANCIAL STATEMENTS
December 31, 2000
NOTES TO FINANCIAL STATEMENTS
eStaff.com, Inc. ("the Company") has elected to omit substantially all footnotes
to the financial statements for the nine months ended December 31, 2000, since
there have been no material changes (other than indicated in other footnotes) to
the information previously reported by the Company in their Annual Report filed
on Form 10-KSB for the Fiscal year ended March 31, 2000.
UNAUDITED INFORMATION
The information furnished herein was taken from the books and records of the
Company without audit. However, such information reflects all adjustments which
are, in the opinion of management, necessary to properly reflect the results of
the period presented. The information presented is not necessarily indicative
of the results from operations expected for the full fiscal year.
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