UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB
(Mark One)
[X] QUARTERLY REPORT PURSUANT TO
SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended: September 30, 2000
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:
ALD Services, Inc.
(Exact name of registrant as specified in its charter)
Nevada 88-0408274
(State or other jurisdiction of (I.R.S. Employer Identification
incorporation or organization) No.)
8787 Washburn Road, Las Vegas, 89129
Nevada (Zip Code)
(Address of principal executive
offices)
(702) 683-7896
(Registrant's telephone number, including area code)
N/A
(Former name, former address and former fiscal year, if changed
since last report)
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 [ ]
APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS
DURING THE PRECEDING FIVE YEARS:
Indicate by check mark whether the registrant has filed all
documents and reports required to be filed by Sections 12, 13 or
15(d) of the Securities Exchange Act of 1934 subsequent to the
distribution of securities under a plan confirmed by a court.
Yes [ ] No [ ]
APPLICABLE ONLY TO CORPORATE ISSUERS:
Indicate the number of shares outstanding of each of the issuer's
classes of common stock, as of the latest practicable date:
2,106,000
/1/
ALD SERVICES, INC.
(A Development Stage Company)
Table of Contents
Page
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements
Independent Auditors' Report 4
Balance Sheet As At December 31, 1999 and September 30, 2000 5
Statement of Operations for Period Ended September 30, 2000 6
and Period Ended September 30, 1999
Statement of Cash Flows for Period Ended September 30, 2000 7
and Period Ended September 30, 1999
Notes to Financial Statements 8
Item 2. Management's Discussion and Plan of Operation 10
PART II - OTHER INFORMATION
Item 6. Exhibits 11
SIGNATURES 12
/2/
ALD Services, Inc.
(A DEVELOPMENT STAGE COMPANY)
FINANCIAL STATEMENTS
FOR PERIOD ENDING
September 30, 2000
/3/
James E. Slayton, CPA
2858 WEST MARKET STREET
SUITE C
FAIRLAWN, OHIO 44333
1-330-864-3553
INDEPENDENT AUDITORS' REPORT
October 30, 2000
Board of Directors
ALD Services, Inc. (the Company)
Las Vegas, Nevada 89102
I have reviewed the accompanying balance sheet of ALD
Services, Inc. (A Development Stage Company), as of September 30,
2000, and related statements of income and cash flows for the
period then ended, in accordance with Statements on Standards for
Accounting and Review Services issued by the American Institute
of Certified Public Accountants. All information included in
these financial statements is the representation of the
management of ALD Services, Inc. (A Development Stage Company).
A review consists principally of inquiries of company
personnel and analytical procedures applied to financial data.
It is substantially less in scope than an audit in accordance
with generally accepted auditing standards, the objective of
which is the expression of an opinion regarding the financial
statements taken as a whole. Accordingly, I do not express such
an opinion.
Based on my review, I am not aware of any material
modifications that should be made to the accompanying financial
statements in order for them to be in conformity with generally
accepted accounting principles.
/s/ James E. Slayton
James E. Slayton, CPA
Ohio License #04-1-15582
/4/
PART I - FINANCIAL INFORMATION
Item 1. Audited Financial Statements
ALD Services, Inc.
(A Development Stage Company)
BALANCE SHEET
AS AT
December 31, 1999 and September 30, 2000
September 30 December 31
2000 1999
ASSETS
CURRENT ASSETS
Cash 1,832.00 739.00
Accounts Receivable 4,353.00 0.00
Other Current Assets 1,307.00 1,307.00
-------- ---------
Total Current Assets 7,492.00 2,046.00
PROPERTY AND EQUIPMENT
Land 10,000.00 10,000.00
--------- ---------
Total Property and Equipment 10,000.00 10,000.00
OTHER ASSETS
Organizational Costs net of 0.00 235.00
Amortization
TOTAL ASSETS 17,492.00 12,281.00
LIABILITIES & EQUITY
CURRENT LIABILITIES
Accounts Payable 0.00 0.00
-------- --------
Total Current Liabilities 0.00 0.00
OTHER LIABILITIES
Due to Shareholder 7,720.00 11,920.00
-------- ---------
Total Other Liabilities 7,720.00 11,920.00
-------- ---------
Total Liabilities 7,720.00 11,920.00
EQUITY
Capital Stock 2,106.00 2,106.00
Additional Paid in Capital 1,024.00 1,024.00
Donated Capital 295.00 295.00
Retained Earnings or (Deficit 6,347.00 (3,064.00)
accumulated during development -------- ---------
stage)
Total Stockholders' Equity 9,772.00 361.00
TOTAL LIABILITIES & OWNER'S 17,492.00 12,281.00
EQUITY ========= =========
See accompanying notes to financial statements
/5/
ALD Services, Inc.
(A Development Stage Company)
STATEMENT OF OPERATIONS
FOR PERIOD ENDING
September 30, 2000
September September
30, 2000 30, 1999
REVENUE
Services 16,667.00 0.00
COSTS AND EXPENSES
Selling, General and 7,021.00 2,483.00
Administrative
Amortization of 235.00 13.00
Organization Costs --------- --------
Total Costs and 7,256.00 2,496.00
Expenses --------- --------
Net Ordinary Income 9,411.00 (2,496.00)
or (Loss) ========= ========
Weighted average 2,106,000 2,106,000
number of common
shares outstanding
Net Income 0.004 0.00
Per Share
See accompanying notes to financial statements
/6/
ALD Services, Inc.
(A Development Stage Company)
STATEMENT OF CASH FLOWS
FOR PERIOD ENDING
September 30, 2000
September September
30, 2000 30, 1999
CASH FLOWS FROM OPERATING
ACTIVITIES
Net income or (loss) from 9,411.00 (2,496.00)
operations
Adjustments to reconcile net
income to net cash Provided
Amortization of organization costs 235.00 12.00
Services in exchange for stock 0.00 0.00
Decrease (Increase) in current (4,353.00) 0.00
assets
(Decrease)/Increase in current (4,200.00)
liabilities -------- --------
Net Cash provided by Operating 1,093.00 (2,484.00)
Activities
CASH FLOWS FROM INVESTING
ACTIVITIES
Purchase of land 0.00 0
-------- -------
Net Cash used by investing 0.00 0
activities
CASH FLOWS FROM FINANCING
ACTIVITIES
Issuance of Capital Stock 0.00 905.00
Advances from Shareholders 0.00 2,275.00
------- -------
Net Cash provided by financing 0.00 3,180.00
activities
Balance at beginning of period 739.00 43.00
Net increase (decrease) in cash 1,093.00 696.00
Balance as at end of period 1,832.00 739.00
See accompanying notes to financial statements
/7/
ALD Services, Inc.
A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
NOTE 1 - HISTORY AND ORGANIZATION OF THE COMPANY
The Company was organized November 10, 1998 (Date of
Inception) under the laws of the State of Nevada, ALD Services,
Inc. The Company has no operations and in accordance with SFAS
#7, the Company is considered a development stage company.
On November 12, 1998, the Company issued 1,900,000 Shares of
its $0.001 par value common stock for cash of $100.00 and the
cancellation of $2,000.00 of debt.
On April 2, 1999, the company issued 206,000 Shares of its
$0.001 par value common stock for cash of $905.00 and services
rendered in the amount of $125.00, pursuant to Regulation D, Rule
504.
On June 30, 1999, the Company split its common stock 20
shares for 1 share. This change is reflected in the shares issued
on November 12, 1998 and April 2, 1999.
NOTE 2 - ACCOUNTING POLICIES AND PROCEDURES
Accounting policies and procedures have not been determined
except as follows:
1.The Company uses the accrual method of accounting.
2.The Company adopted SOP 98-5 in July 2000 and accordingly
expense the balance of organization costs at that time.
3.Basic earnings per share is computed using the weighted
average number of shares of common stock outstanding.
4.The Company has not yet adopted any policy regarding
payment of dividends. No dividends have been paid since
inception.
5.The cost of equipment is depreciated over the estimated
useful life of the equipment utilizing the straight line
method of depreciation.
6.The Company experienced losses for its first fiscal tax
year. The Company will review its need for a provision
for federal income tax after each operating quarter and
each period for which a statement of operations is
issued.
7.The Company's Statement of Cash Flows is reported
utilizing cash (currency on hand and demand deposits) and
cash equivalents (short-term, highly liquid investments).
The Company's Statement of Cash Flows is reported
utilizing the indirect method of reporting cash flows.
/8/
ALD Services, Inc.
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
NOTE 3 - GOING CONCERN
The Company's financial statements are prepared using the
generally accepted accounting principles applicable to a going
concern, which contemplates the realization of assets and
liquidation of liabilities in the normal course of business.
However, the Company has not commenced its planned principal
operations. Without the realization of additional capital, it
would be unlikely for the Company to continue as a going concern.
It is management's plan to seek additional capital through a
private offering of its securities once it gets listed on the NQB
"Pink Sheets" or the NASD OTC-BB.
NOTE 4 - RELATED PARTY TRANSACTIONS
The Company neither owns or leases any real or personal
property. The officers and directors of the Company are involved
in other business activities and may, in the future, become
involved in other business opportunities. If a specific business
opportunity becomes available, such persons may face a conflict
in selecting between the Company and their other business
interests. The Company has not formulated a policy for the
resolution of such conflicts.
NOTE 5 - WARRANTS AND OPTIONS
There are no warrants or options outstanding to acquire any
additional shares of common stock.
/9/
Item 2. Management's Discussion and Plan of Operation
Forward-Looking Statements
This Quarterly Report contains forward-looking statements about
our business, financial condition and prospects that reflect our
assumptions and beliefs based on information currently available.
We can give no assurance that the expectations indicated by such
forward-looking statements will be realized. If any of our
assumptions should prove incorrect, or if any of the risks and
uncertainties underlying such expectations should materialize,
our actual results may differ materially from those indicated by
the forward-looking statements. The key factors that are not
within our control and that may have a direct bearing on
operating results include, but are not limited to, acceptance of
our services, our ability to expand our customer base, our
ability to raise capital in the future, the retention of key
employees and changes in the regulation of our industry.
General
ALD Services, Inc. ("ALD" or the "Company"), a Nevada
corporation, incorporated on November 10, 1998. We are a
developmental stage consulting company whose principal business
objective is to promote the use of our professional services and
soon to be developed corporate software to help companies better
manage their operational processes. Such processes would include
supply, transportation, contracting, financial and manpower
management. ALD seeks to provide reputable consultations,
recommendations for operational improvements and ultimately
proprietary systems software to improve upon our clients'
decision-making skills and methods of operation.
Results of Operations
The Company generated revenues of $16,667 as of September 30,
2000. Although the Company has a limited operating history,
activities to date have been primarily designed to further our
principal business objective as stated above. Final completion
of two projects that had begun just after the turn of the year
resulted in the revenues generated for this quarter. In
completing these projects it became clear as to the types of
future projects the Company will pursue. We came to the
conclusion that the return on future projects must be greater
given the time invested. The strategic partnerships entered
into and mentioned in the previous quarterly report remain
intact and should provide returns in line with previous
forecasts.
This, in turn, has helped define our business plan and aided in
the recruitment of more qualified personnel to improve the
company's efficiency of operation. With the completion of three
projects, previously agreed upon strategic alliances, and
initiating talks with two developing companies to build their
infrastructure and implement the copyrighted software, ALD
appears a step closer to developing the stand alone package for
project management we have been designing. While there are no
new products or services to announce, the process continues to
refine the Company's software. The Company has found that only
through true project implementation (as opposed to modeling) can
the software be best refined for use.
Future Business
We believe over the next several months the software will be
refined to the point where it will require less personal
involvement from the Company for its use. That in turn will
provide needed time by management to explore more avenues for
revenue generation. It is the Company's desire in the next 12
calendar months we will be able to work with, support, and
develop at least one new start-up company per month.
Liquidity and Capital Resources
To date, the Company has attained cash from offerings of its
common stock. On November 10, 1998, the Company issued 1,900,000
shares of its $0.001 par value common shares for cash of $100 and
the cancellation of $2,000 of debt. On April 2, 1999, the
Company issued 206,000 shares of its common stock for cash of
$905 and in exchange for services rendered of $125.
Although the Company has begun to generate revenues, without the
realization of additional capital, it would be unlikely for the
Company to continue as a going concern. It is management's plan
to increase revenues through increasing sales over the next 2
years, however, if we are unsuccessful we may need to seek
additional capital through a private offering of our securities
once we are listed on the NQB's "Pink Sheets" or the OTC-BB. The
Company does not have significant cash or other material assets
nor does it have an established source of revenue sufficient to
cover its operating costs indefinitely.
/10/
PART II - OTHER INFORMATION
Item 6. Exhibits
Exhibit Name and/or Identification of Exhibit
Number
3 Articles of Incorporation & By-Laws
(a)Articles of Incorporation of the Company filed November
10, 1998. Incorporated by reference to the exhibits to
the Company's General Form For Registration Of Securities
Of Small Business Issuers on Form 10-SB, previously filed
with the Commission.
(b)By-Laws of the Company adopted November 12, 1998.
Incorporated by reference to the exhibits to the Company's
General Form For Registration Of Securities Of Small
Business Issuers on Form 10-SB, previously filed with the
Commission.
13 Annual or Quarterly Reports
(a) Form 10-QSB for the Quarter ended June 30, 2000.
Incorporated by reference to the Company's Quarterly
Report for Small Business Issuers on Form 10-QSB,
previously filed with the Commission.
23 Consent of Experts and Counsel
Consent of Independent Public Accountant
27 Financial Data Schedule
Financial Data Schedule of ALD Services, Inc. ending
September 30, 2000
/11/
SIGNATURES
Pursuant to the requirements of the Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
ALD Services, Inc.
(Registrant)
Date: November 10, 2000
By: /s/ Frank Danesi, Jr.
Frank Danesi, Jr., President and Director
/12/
