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Previous: OAKWOOD MORTGAGE INVESTORS INC OMI TRUST 1999-C, 15-15D, 1999-10-28 |
Next: ABN AMRO MORTGAGE CORP SERIES 1999-5, 8-K, 1999-10-28 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 10-Q
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended August 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
---------------------------------------------------------
5 STARLIVING ONLINE, INC.
(Exact name of registrant as specified in its charter)
Delaware 33-0814123
- --------------------------------------- --------------------------------------
(State or other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
8717 16th Avenue South West, Seattle, Washington 98116
------------------------------------------------------
(Address of principal executive offices)
(206) 763-8653
------------------------------------------------------
(Registrant's telephone number, including area code)
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 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.
Yes _X_ No ___
4,250,000 Common Shares were outstanding as of October 15, 1999
<PAGE>
5 STARLIVING ONLINE, INC.
I N D E X
Page
----
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements (Unaudited)
Condensed Balance Sheet
August 31, 1999 (Unaudited) and
May 31, 1999 3
Statements of Income
Three months ended August 31,
1999 and 1998 (Unaudited) 4
Statement of Stockholders' Equity
For the quarter ended August 31,
1999 5
Condensed Statements of Cash Flows
Three months ended August 31,
1999 and 1998 6
Selected Notes to Condensed Financial
Statements (Unaudited) 7
Item 2. Management's Discussion and Analysis of Financial
Condition and Results of Operations 8
PART II. OTHER INFORMATION 9
<PAGE>
Part I. FINANCIAL INFORMATION
Item 1. FINANCIAL STATEMENTS
5 STARLIVING ONLINE, INC.
(A DEVELOPMENT STAGE ENTERPRISE)
BALANCE SHEET
<TABLE>
<CAPTION>
JUNE 1/99-AUGUST 31/99 May 31, 1999
<S> <C> <C>
ASSETS
CURRENT ASSETS
Cash: $ 25,419 $ 40,178
---------- ----------
Total current assets: 25,419 40,178
---------- ----------
TOTAL ASSETS $ 25,419 $ 40,178
========== ==========
LIABILITIES & STOCKHOLDERS' EQUITY
CURRENT LIABILITIES $ -- $ --
COMMITMENTS & CONTINGENCIES -- --
STOCKHOLDERS' EQUITY
Preferred stock, 20,000,000 shares authorized, $0.0001 par value;
no shares issued and outstanding -- --
Common stock, 80,000,000 shares authorized, $0.0001 par value;
4,250,000 shares issued and outstanding 425 425
Additional paid-in-capital 59,575 59,575
Deficit accumulated during development stage (34,581) (19,822)
---------- ----------
TOTAL STOCKHOLDERS' EQUITY 25,419 40,178
---------- ----------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 25,419 $ 40,178
========== ==========
</TABLE>
1
<PAGE>
5 STARLIVING ONLINE, INC.
(A DEVELOPMENT STAGE ENTERPRISE)
STATEMENT OF OPERATIONS AND ACCUMULATED DEFICIT
<TABLE>
<CAPTION>
For the Year Ended May 31, 1999 June 1, 1999 - August 31, 1999
<S> <C> <C>
REVENUES $ -- $ --
------------ ------------
EXPENSES
Consulting 14,229 --
Filing fees 3,005 304
Legal and professional 2,000 13,373
Office expense 88 821
Transfer agent 500 553
------------ ------------
TOTAL EXPENSES 19,822 15,051
------------ ------------
NET LOSS FROM OPERATIONS (19,822) (15,051)
INCOME TAXES -- --
NET LOSS (19,822) (15,051)
ACCUMULATED DEFICIT, BEGINNING BALANCE -- (19,822)
------------ ------------
ACCUMULATED DEFICIT, ENDING BALANCE $ (19,822) $ (34,873)
============ ============
NET LOSS PER COMMON SHARE $ (0.01) $ (0.001)
============ ============
WEIGHTED AVERAGE NUMBER OF
COMMON STOCK SHARES OUTSTANDING 3,008,334
============
</TABLE>
The accompanying notes are an integral part of these financial statements.
2
<PAGE>
5 STARLIVING ONLINE, INC.
(A DEVELOPMENT STAGE ENTERPISE)
STATEMENT OF STOCKHOLDERS' EQUITY
For the quarter ended August 31, 1999
<TABLE>
<CAPTION>
Common Stock
------------------------- Additional Total
Number Paid-In Accumulated Stockholders'
of Shares Amount Capital Deficit Equity
--------- ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
Issuance of common stock
for cash at $.0025 per share 40,000 $ 4 $ 96 $ -- $ 100
Issuance of common stock
from sale of private placement
for cash at $.0025 per share 3,960,000 396 9,504 -- 9,900
Issuance of common stock
from sale of private placement
for cash at $.20 per share 250,000 25 49,975 -- 50,000
Loss for period ending,
August 31, 1999 -- -- -- (34,873) (34,873)
--------- ------------ ------------ ------------ ------------
Balance
August 31, 1999 4,250,000 $ 425 $ 59,575 $ (34,873) $ 25,127
========= ============ ============ ============ ============
</TABLE>
The accompanying notes are an integral part of these financial statements.
3
<PAGE>
5 STARLIVING ONLINE, INC.
(A DEVELOPMENT STAGE ENTERPRISE)
STATEMENT OF CASH FLOWS
June 1,1999 - August 31, 1999
<TABLE>
<S> <C>
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss $ (34,873)
-----------
Net cash (used) in operating activities (34,873)
-----------
CASH FLOWS FROM INVESTING ACTIVITIES --
-----------
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from sale of common stock 60,000
-----------
Net cash provided by financing activities 60,000
-----------
Change in cash 25,127
Cash, beginning of period --
-----------
Cash, end of period $ 25,127
===========
Supplemental disclosures:
Interest paid $ --
===========
Income taxes paid $ --
===========
</TABLE>
The accompanying notes are an integral part of these financial statements.
4
<PAGE>
5 STARLIVING ONLINE, INC.
NOTES TO CONDENSED FINANCIAL STATEMENTS
(Unaudited)
Note 1. Condensed Financial Statements:
The condensed balance sheet as of August 31, 1999, the statement of
operations for the three-month periods ended August 31, 1999 and 1998,
and the condensed statement of cash flows for the three-month periods
then ended have been prepared by the Company, without audit. In the
opinion of management, all adjustments (which include only normal
recurring adjustments) necessary to present fairly the financial
position, results of operations and changes in cash flows at August 31,
1999 and for all periods presented have been made.
Certain information and footnote disclosures normally included in
financial statements prepared in accordance with generally accepted
accounting principles have been condensed or omitted. It is suggested
that these condensed financial statements be read in conjunction with
the financial statements and notes thereto included in the Company's
May 31, 1999 audited financial statements. The results of operations
for the period ended August 31, 1999 are not necessarily indicative of
the operating results for the full year.
5
<PAGE>
JURAK CORPORATION WORLD WIDE, INC.
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
The Company has devoted all of its efforts in the past three months to
the completion of its web site and database. There has been no income in quarter
ended August 31, 1999. There were expenses of $15,051, for a net loss in the
quarter ended August 31, 1999 of $15,051, or, $.001 per share.
6
<PAGE>
PART II. OTHER INFORMATION
Item 1. Legal Proceedings
The Company is aware of no legal proceeding which is pending or
threatened to which the Company is a party or of which its property is
subject.
Item 6. Exhibits and Reports on Form 8-K
(b) No reports on Form 8-K were filed during the three months ended
August 31, 1999.
7
<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.
5 STARLIVING ONLINE, INC.
Date October 15, 1999 By: /s/ Paul Hayward
-------------------------------------
President and Director
8
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> MAY-31-2000
<PERIOD-START> JUN-01-1999
<PERIOD-END> AUG-31-1999
<CASH> 25,419
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 25,419
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 25,419
<CURRENT-LIABILITIES> 0
<BONDS> 0
0
0
<COMMON> 425
<OTHER-SE> (34,581)
<TOTAL-LIABILITY-AND-EQUITY> 25,419
<SALES> 0
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 15,051
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> (15,051)
<INCOME-TAX> 0
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (15,051)
<EPS-BASIC> (0.001)
<EPS-DILUTED> (0.001)
</TABLE>
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