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 November 30, 1999
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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
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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)
10612 Aquaway South, Seattle, Washington 98168
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(Address of principal executive offices)
(206) 261-3231
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(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 November 30, 1999
<PAGE>
5 STARLIVING ONLINE, INC.
I N D E X
Page
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PART I. FINANCIAL INFORMATION
Item 1. Financial Statements (Unaudited)
Condensed Balance Sheet
November 30, 1999 (Unaudited) 3
Statements of Income
Three months ended November 30,
1999 (Unaudited) 4
Statement of Stockholders' Equity
For the quarter ended November 30,
1999 5
Condensed Statements of Cash Flows
Three months ended November 30,
1999 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 CORPORATION )
BALANCE SHEET
SEPTEMBER 1/99 - NOVEMBER 30/99
<TABLE>
<CAPTION>
ASSETS
<S> <C>
CURRENT ASSETS:
CASH: $18,290.00
TOTAL CURRENT ASSETS: $18,290.00
TOTAL ASSETS: $18,290.00
LIABILITIES & STOCKHOLDERS' EQUITY
CURRENT LIABILITIES $ -0-
COMMITMENTS & CONTINGENCIES $ -0-
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. $ 425.00
ADDITIONAL PAID-IN-CAPITAL $59,575.00
DEFICIT ACCUMULATED DURING DEVELOPMENT STAGE ($41,710.00)
TOTAL STOCKHOLDERS EQUITY $18,290.00
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $18,290.00
</TABLE>
1
<PAGE>
5 STARLIVING ONLINE, INC.
(A DEVELOPMENT STAGE CORPORATION)
STATEMENT OF OPERATIONS AND ACCUMULATED DEFICIT
September 1,1999 - November 30, 1999
REVENUES $ -
EXPENSES
Consulting $ -
Filing fees $ 710
Legal and professional $ 5,000
Office expenses $ 764
Transfer agent $ 363
TOTAL EXPENSES $ 6,837
NET LOSS FROM OPERATIONS $ 6,837
INCOME TAXES $ -
NET LOSS ($ 6,837)
ACCUMULATED DEFICIT, BEGINNING BALANCE ($34,873)
ACCUMULATED DEFICIT, ENDING BALANCE ($41,710)
NET LOSS PER SHARE -0.001
2
<PAGE>
5 STARLIVING ONLINE, INC.
(A DEVELOPMENT STAGE CORPORATION)
STATEMENT OF STOCKHOLDERS' EQUITY
For the quarter ended November 30, 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 quarter ending,
November 30, 1999 - - - (41,710) (41,710)
--------- ---- --------- -------- - -------
Balance
November 30, 1999 4,250,000 $425 $ 59,575 $(41,710) $ 18,290
========= ==== ========= ======== ========
</TABLE>
3
<PAGE>
5 STARLIVING ONLINE, INC.
(A DEVELOPMENT STAGE CORPORATION)
INCOME STATEMENT
September 1,1999 - November 30, 1999
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss $(6,837)
-------
Net cash (used) in operating activities (6,837)
-------
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 6,837
Cash, beginning of period 25,127
-------
Cash, end of period $18,290
=======
Supplemental disclosures:
Interest paid $ -
=======
Income taxes paid $ -
=======
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 November 30, 1999, the statement of
operations for the three-month period ended November 30, 1999 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 November 30, 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 November 30, 1999 are not necessarily indicative
of the operating results for the full year.
5
<PAGE>
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS
AND RESULTS OF OPERATIONS
The company has devoted all of its efforts in the past 3 months in
refining its database program. There has been no income in quarter ended
November 30, 1999. There were expenses of $6,837, for a net loss in the quarter
ended November 30, 1999 of $6,837, 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
November 30, 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 January 14, 2000 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> SEP-01-1999
<PERIOD-END> NOV-30-1999
<CASH> 18,290
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 18,290
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 18,290
<CURRENT-LIABILITIES> 0
<BONDS> 0
0
0
<COMMON> 425
<OTHER-SE> (41,710)
<TOTAL-LIABILITY-AND-EQUITY> 18,290
<SALES> 0
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 6,837
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> (6,837)
<INCOME-TAX> 0
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (6,837)
<EPS-BASIC> (0.001)
<EPS-DILUTED> (0.001)
</TABLE>
