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<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 10-QSB
Quarterly Report pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
For the Period ended: September 30, 1999
Commission File No. 0-26885
PLUME CREEK, INC.
- -----------------------------
(Exact name of registrant as specified in its charter)
Nevada 82-0511729
- --------------------- ---------------
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
6352 Almquist Avenue
P.O. Box 396
Murray, Idaho 83874
- --------------------------------------- --------
(Address of principal executive offices) (Zip code)
Issuer's telephone number: (208) 682-4739
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.
( x ) Yes ( ) No
As of September 30, 1999, Registrant had 2,166,282 shares of Common Stock
outstanding.
- --------------------
(Title of Class)
<PAGE>
INDEX
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements
Balance Sheets, December 31, 1998 and 4
September 31, 1999.
Statements of Operations, Nine Months 5
Ended September 30, 1998 and Nine Months
Ended September 30, 1999 (Unaudited) and
From March 25, 1970 (Date of Inception)
Through September 30, 1999.
Statements of Stockholders' Equity, 6
From March 25, 1970 (Date of Inception)
Through September 30, 1999 (Unaudited).
Statements of Cash Flows, Nine Months 8
Ended September 30, 1998 and Nine Months
Ended September 30, 1999 (Unaudited) and
From March 25, 1970(Date of Inception)
Through September 30, 1999 (Unaudited).
Notes to Financial Statements 9
Item 2. Management's Discussion and Analysis of 9
Financial conditions and Results of
Operations.
PART II. OTHER INFORMATION 10
Item 1. Index to Exhibits
a. Reports on Form 8-K
b. Signatures
c. Exhibit 27 - Financial Data Schedule
<PAGE>
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements
PLUME CREEK, INC.
(A development stage company)
Balance Sheets
<TABLE>
(Unaudited)
DECEMBER 31, SEPTEMBER 30,
1998 1999
------------ -------------
<S> <C> <C>
ASSETS
Cash $ 4,941 $ 3,298
============ ============
LIABILITIES $ - $ -
STOCKHOLDERS' EQUITY
Common stock, 100,000,000 shares
$.005 par value, authorized:
2,166,282 shares issued and
outstanding $ 10,831 $ 10,831
Additional paid-in capital 331,734 331,734
Deficit accumulated during the
development stage (337,624) (339,267)
------------ ------------
TOTAL STOCKHOLDERS' EQUITY 4,941 3,298
------------ ------------
$ 4,941 $ 3,298
============ ============
</TABLE>
<PAGE>
See accompanying notes to financial statements.
PLUME CREEK, INC.
(A development stage company)
Statements of Operations
<TABLE>
Period from
March 25, 1970 Nine months ended
(Date of September 30, September 30,
Inception) to 1998 1999
December 31, 1998 (Unaudited) (Unaudited)
----------------- ----------- ----------
<S> <C> <C> <C>
REVENUES $ - $ - $ -
EXPENSES 6,889 59 1,643
----------------- ----------- ----------
NET LOSS FROM
OPERATIONS (6,889) 1830 (1,643)
LOSS FROM
DISCONTINUED
OPERATIONS (330,735) - -
----------------- ----------- ----------
NET LOSS $ (337,624) $ (1889) $ (1,643)
================= ============ ===========
HISTORICAL BASIC
AND DILUTED
LOSS PER SHARE $ (2.28) $ - -
================= ============ ===========
HISTORICAL
WEIGHTED AVERAGE
SHARES
OUTSTANDING 148,325 166,282 2,166,282
================= ============ ===========
</TABLE>
<PAGE>
See accompanying notes to financial statements.
PLUME CREEK, INC.
(A development stage company)
Statements of Stockholders' Equity
Period from March 25, 1970 (Date of inception) to September 30, 1999
<TABLE>
Deficit
Accumulated
Additional During the
Common Paid-in Development
Stock Capital Stage Total
--------- ---------- ------------ ---------
<S> <C> <C> <C> <C>
At Inception, March 25, 1970 $ - $ - $ - $ -
Add (Deduct)
1970 - 75,000 shares issued
for mining rights for $2.00
per share 375 149,625 - 150,000
1970 - 9,172 shares issued
for services for $2.00
per share 46 18,299 - 18,345
1972 - 11,350 shares issued
for services for $2.00
per share 57 22,643 - 22,700
1973 - 8,745 shares issued
for services for $2.00
per share 44 17,446 - 17,490
1974 - 7,550 shares issued
for services for $2.00
per share 38 15,062 - 15,100
1975 - 3,000 shares issued
for services for $2.00
per share 15 5,985 - 6,000
1976 - 3,000 shares issued
for services for $2.00
per share 15 5,985 - 6,000
1977 - 3,000 shares issued
for services for $2.00
per share 15 5,985 - 6,000
1978 - 4,200 shares issued
for services for $2.00
per share 21 8,379 - 8,400
1979 - 6,350 shares issued
for services for $2.00
per share 32 12,668 - 12,700
1981 - 2,500 shares issued
for services for $2.00
per share 12 4,988 - 5,000
1983 - 1,500 shares issued
for services for $2.00
per share 7 2,993 - 3,000
<PAGE>
1984 - 5,000 shares issued
for services for $2.00
per share 25 9,975 - 10,000
1987 - 25,000 shares issued
for services for $2.00
per share 125 49,875 - 50,000
Net loss from inception
through December 31, 1996 - - (330,735) (330,735)
--------- ---------- ------------ ----------
Balances, December 31, 1996 827 329,908 (330,735) -
</TABLE>
<PAGE>
PLUME CREEK, INC.
(A development stage company)
Statements of Stockholders' Equity
Period from March 25, 1970 (Date of inception) to September 30, 1999
<TABLE>
Deficit
Accumulated
Additional During the
Common Paid-in Development
Stock Capital Stage Total
--------- ---------- ------------ ----------
<S> <C> <C> <C> <C>
Balance forward 827 329,908 (330,735) -
Deduct:
Net loss for the year ended
December 31, 1997 - - - -
--------- ---------- ------------ ----------
Balances December 31, 1997 827 329,908 (330,735) -
Add (Deduct)
915 shares issued
for services for $2.00
per share, on July 15, 1998 4 1,826 - 1,830
1,000,000 shares issued
for services for $.005 per share
on October 20, 1998 5,000 - - 5,000
1,000,000 shares issued
for services for $.005 per share
on December 8, 1998 5,000 - - 5,000
Net loss for the year ended
December 31, 1998 - - (6,889) (6,889)
--------- ---------- ------------ ----------
Balances, December 31, 1998 10,831 331,734 (337,624) 4,941
--------- ---------- ------------ ----------
Add (Deduct):
Net loss for the nine months
Ended September 30, 1999
(Unaudited) - - (1,643) (1,643)
--------- ---------- ------------ ----------
Balances, September 30, 1999,
(Unaudited) 10,831 $ 331,734 $ (339,267) $ 3,298
========= ========== ============ ==========
</TABLE>
<PAGE>
See accompanying financial statements.
PLUME CREEK, INC.
(A development stage company)
Statements of Cash Flows
<TABLE>
Period from
March 25, 1970 Nine months ended
(Date of September 30, September 30,
Inception) to 1998 1999
December 31, 1998 (Unaudited) (Unaudited)
----------------- ----------- ----------
<S> <C> <C> <C>
Increase (Decrease)
In Cash
CASH FLOWS FROM
OPERATING
ACTIVITIES:
Net Loss $ (337,624) $ (59) $ (1,643)
Adjustments to
reconcile net
loss to net
cash provided
by operating
activities:
Issuance of
common stock
for services
rendered and
claims 337,565 1,830 -
----------------- ------------ --------------
Net cash used in
Operating
Activities (59) (59) (1,643)
CASH FLOWS FROM
FINANCING
ACTIVITIES:
Common stock
issued 5,000 1,830 -
----------------- ----------- --------------
Net Increase
(Decrease)
in Cash 4,941 4,941 (1,643)
Cash, beginning
of period - - 4,941
----------------- ----------- --------------
>page>
Cash, end of Year/
Period $ 4,941 $ 4,941 $ 3,298
================= ============== =============
</TABLE>
<PAGE>
See accompanying financial statements.
PLUME CREEK, INC.
(A development stage company)
Notes to Financial statements
The accompanying financial statements reflect the activities of the Company
from its inception through December 31, 1998 and the nine month periods
ending September 30, 1997 and September 30, 1998. The Company operates
on a fiscal year ending December 31.
Unaudited interim financial data - The unaudited financial statements as of
June 30, 1999, and for the six months ended June 30, 1998 and 1999 have been
prepared on the same basis as the audited financial statements and, in the
opinion of management, include all adjustments necessary to present fairly the
information set forth within, in accordance with generally accepted
accounting principles.
Item 2. Management's Discussion and Analysis of Financial Conditions and
Results of Operations.
The Company was formed in 1970 and obtained certain mining claims and
rights. Those rights were subsequently abandoned and the Company has
conducted no business since 1985. The Company has never generated any
revenue in its history. The Company is currently reorganizing its capital
structure and is pursuing registration as a public company. The Company's
ability to continue in business is dependent upon obtaining sufficient
financing or attaining future profitable operations.
<PAGE>
PART II OTHER INFORMATION
Item 1. Exhibit Index
a. Reports on Form 8-K
b. Signatures
c. (27) Financial Data Schedule
(a) There have been no reports on Form 8-K for the nine months ended
September 30, 1999.
(b) SIGNATURES
Pursuant to the requirements of Section 12 of the Securities Exchange Act of
1934, the Registrant has duly caused this Registration Statement to be signed on
its behalf by the undersigned, thereunto duly authorized.
PLUME CREEK, INC.
(Registrant)
Date: July 21, 1999 /s/Dale F. Miller
------------------------------
Dale F. Miller, President
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> DEC-31-1999
<PERIOD-END> SEP-30-1999
<CASH> 3,298
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 3,298
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 3,298
<CURRENT-LIABILITIES> 0
<BONDS> 0
0
0
<COMMON> 10,831
<OTHER-SE> (7,533)
<TOTAL-LIABILITY-AND-EQUITY> 3,298
<SALES> 0
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 8,532
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> (8,532)
<INCOME-TAX> 0
<INCOME-CONTINUING> (8,532)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (8,532)
<EPS-BASIC> (0.02)
<EPS-DILUTED> (0.02)
</TABLE>
