United States
Securities and Exchange Commission
Washington, D.C. 20549
------------------------
Form 10-KSB
[X] Annual Report Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
For the Fiscal Year Ended December 31, 1999
[ ] 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 0-27035
ALD Services, Inc.
(Exact Name of Registrant as Specified in its Charter)
Nevada 88-0408274
(State or other (I.R.S. employer
jurisdiction of identification number)
incorporation or
organization)
8787 Washburn Road Las Vegas, 89129
Nevada
(Address of principal executive (Zip code)
offices)
Registrant's Telephone Number, Including Area Code: (702)
683-7896
Securities Registered Pursuant to Section 12(b) of the Act:
NONE
Securities Registered Pursuant to Section 12(g) of the Act:
Common Stock, $0.001 par value per share, 25,000,000 shares
authorized, 2,106,000 issued and outstanding as of December
31, 1999.
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 []
Indicate by check mark if disclosure of delinquent filers
pursuant to Item 405 of Regulation S-B is not contained
herein, and will not be contained, to the best of
registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this
Form 10-KSB or any amendment to this Form 10-KSB. [ ]
The Company's stock is not, and has not, been traded or
quoted. Therefore, there is no way to ascertain a market
value for the stock.
The number of shares of Common Stock outstanding as of
December 31, 1999 was 2,106,000.
----------------------------
DOCUMENTS INCORPORATED BY REFERENCE
Sections of the registrant's definitive Proxy Statement for
the registrant's Annual Meeting of Stockholders, which will
be filed with the Securities and Exchange Commission, are
incorporated by reference into Part III of this Report to
the extent stated herein.
----------------------------
The following discussion contains, in addition to historical
information, forward-looking statements that involve risks
and uncertainties. The Company's actual results could differ
significantly from the results discussed in the forward-
looking statements. Factors that could cause or contribute
to such differences include, but are not limited to, those
discussed below and in Item 7, "Management's Discussion and
Analysis of Financial Condition."
PART I
ITEM 1 -- BUSINESS.
General
ALD Services, Inc. ("ALD" or the "Company"), a Nevada
corporation incorporated on November 10, 1998, is a
developmental stage consulting company with a principal
business objective to integrate the spectrum of processes
within the logistics, supply, transportation, contracting,
financial management, and manpower management environments.
ALD seeks to provide reputable consultations,
recommendations for improvements, and if so desired, flow-
systems for improved decision making and implementation.
The Company believes that the founders and promoters of
primarily new, development stage companies have unrealistic
expectations regarding initial capital formation and
organizational issues. As such, the Company will seek to
provide guidance in regards to the client company's
business, organizational, and financial status.
Industry Background
The global business environment is undergoing rapid,
profound change, which has placed great competitive pressure
on start-up and small businesses. The changing business
environment has produced an evolving range of strategic and
operating options for businesses, many of which do not have
the financial resources to cost-effectively employ larger
and more expensive consulting firms to assist them in
streamlining their operations. In response, the smaller
firms are formulating and implementing new strategies and
tactics, including overseeing their own redesigning and
restructuring of business processes and workflow, acquiring
better technology and adopting or remodeling customer
service and marketing programs. Although these methods can
provide benefits and cost savings, the Company believes that
businesses will turn to outside consultants to assist in
this process for several reasons: the pace of change is
eclipsing their own internal resources and capability to
identify, evaluate and implement the full range of options;
consultants enable them to develop better solutions in
shorter time frames; and purchasing consulting experience
can be more cost-effective. By employing outside
experience, businesses can often improve their ability to
compete by rapidly deploying new processes.
The business consulting industry is highly fragmented and
consists primarily of: (i) larger systems integration firms,
including the consulting divisions of the "Big Six"
accounting firms; (ii) information system vendors that focus
on services related to the software solutions they offer;
(iii) consulting firms that focus on selected specialty
areas, such as strategic planning or vendor-specific
implementation; and (iv) other large general management
consulting firms that do not specialize in specific
consulting areas and/or offer systems implementation.
Increasingly, the competitive advantage in business
consulting will be gained by those consulting firms which:
(i) are able to marshal the necessary expertise and
resources to offer comprehensive skill sets to clients; (ii)
have the strength and consistency of advice along the entire
service continuum (from strategy to selection to
implementation); and (iii) offer the flexibility to meet the
challenges of the rapidly changing business environment.
Services
The Company seeks to provide guidance in functional areas
such as logistics, supply, transportation, contracting,
financial and manpower management. The Company intends to
establish these functional areas to assist client companies
in developing and implementing the procedures necessary to
operate effectively.
The Company faces risks which include, but are not limited
to, an evolving and unpredictable business model, dependence
on the growth in use of services such as the Company
provides, the acceptance of the Company's services, the
ability to obtain information about developments in business
consulting, rapid technological change and the management of
growth. There can be no assurance that the Company will be
successful in addressing such risks, and the failure to do
so could have a material adverse effect on the Company's
business, prospects, financial condition and results of
operations.
Government Regulation
The Company's business is subject to a variety of state and
local governmental regulations and licensing requirements
relating to general business activities.
The Company believes that the current regulations governing
business activities will not have a material effect on its
operations, which has been limited to developing its
services and establishing its presence in the business
services market. However, various federal and state agencies
may propose new legislation that may adversely affect the
Company's business, financial condition and results of
operations.
Employees
As a start up company in the research and development phase
- in order to more prudently manage the Company's limited
resources the Company presently has no (0) full time
employees and one (1) part time employee. The Company's
employees are currently not represented by a collective
bargaining agreement, and the Company believes that its
relations with its employee is good.
The names, ages and positions of the Company's directors and
executive officers are as follows:
Name Age Position
Frank Danesi, Jr. 45 President & CEO
Frank Danesi, Jr. - President, Chief Executive Officer, CFO:
Mr. Danesi is the founder of Bandit Brewing Company (BBC)
and has been Chairman, Chief Executive Officer, and
President of the Company since its inception. Prior to
incorporating Bandit Brewing Company and since June 1995,
Mr. Danesi was General Partner of Black Sheep Brewing
Company L.P. (BSBC), whose assets were merged into BBC in
September 1996. In February 1991, he formed Lone Mountain
Brewing, Inc. and opened its first subsidiary - The Home
Brewery in Las Vegas, Nevada. He then formed Major Brewing
Services (MBS) in December 1994 as a second subsidiary. The
Home Brewery, which he subsequently sold, was a retail
equipment and supplier store which primarily targets the
home brewing and beer hobby market. MBS was created to
provide advising and equipment services to the brewing
industry. MBS was the general partner and manager of the
predecessor company (BSBC). Mr. Danesi and Lone Mountain
Brewing helped develop, manage, and construct a 12,000
square foot Bandit Brewing Company facility which includes
brewing, bottling, packaging, cold storage, and executive
office facilities. Mr. Danesi is formerly a Major for the
United States Air Force where he served 15 years until his
retirement. His USAF career was spent in Aircraft
Maintenance, Munitions and Logistics working in the
continental United States and the Pacific and European
regions. He supervised aircraft and munitions organizations
worldwide, ranging from 150 to 750 people and commanded a
500 person aircraft maintenance squadron with assets over
$250 million and an annual budget in excess of $3 million.
Mr. Danesi was awarded the Air Force Meritorious Service
Medal with two Bronze Oak Leaf Clusters, Air Force
Commendation with one Bronze Oak Leaf Cluster, National
Defense Medal, and the Southwest Asia Service Medal with one
Oak Leaf Cluster. Mr. Danesi holds a Bachelor of Science
Degree in Psychology from Ursinus College and a Masters of
Business Administration Degree from LaSalle College.
ITEM 2. PROPERTIES.
The Company's corporate headquarters are located at 8787
Washburn Road, Las Vegas, Nevada 89129. The office space is
provided by the sole officer and director of the Company at
no cost to the Company. The Company does not have any
additional facilities. Additionally, there are currently no
proposed programs for the renovation, improvement or
development of the property currently being utilized by the
Company. Management believes this is currently suitable as
the main administrative office and should remain so for the
next approximately twelve (12) months.
ITEM 3 -- LEGAL PROCEEDINGS.
The Company is not subject to any legal proceedings.
ITEM 4 -- SUBMISSION OF MATTERS TO A VOTE OF SECURITY
HOLDERS.
Not applicable.
PART II
ITEM 5 -- MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED
STOCKHOLDER MATTERS.
The Company's common stock has been registered in a Form 10-
SB filing with the Securities and Exchange Commission. The
Form 10-SB filing has been approved, and the Company's
shares are registered under the Securities Act of 1933 (the
"Act"). The Company intends to meet the fully-reporting
requirements of the Act and file reports in the required
intervals. The Company is currently seeking to be listed on
the NASD OTC Electronic Bulletin Board sponsored by the
National Association of Securities Dealers, Inc.
The following table sets forth certain information as of the
end of 1999, with respect to the beneficial ownership of the
Company's Common Stock by all persons known by the Company
to be beneficial owners of more than 5% of any such
outstanding classes, and by each director and executive
officer, and by all officers and directors as a group.
Unless otherwise specified, the named beneficial owner has,
to the Company's knowledge, either sole or majority voting
and investment power.
COMMON STOCK
Name of Number of % of Class
Beneficial Owner Shares
Frank Danesi, Jr. 1,900,000 90.22
(1)
All Executive 1,900,000 90.22
Officers and
Directors as a
Group (1 persons)
Footnotes to Principal Shareholders:
1. The address of each executive officer and director is
c/o 8787 Washburn Road, Las Vegas, Nevada 89129.
As of December 31, 1999, there were 32 stockholders of
record and approximately one (1) beneficial owner of the
Company's common stock.
ITEM 6 -- MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF
OPERATION.
FORWARD LOOKING STATEMENTS
The statements contained in this report that are not
historical facts are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act.
Forward-looking statements are made based upon management's
current expectations and beliefs concerning future
developments and their potential effects upon the Company.
There can be no assurance that future developments affecting
the Company will be those anticipated by management. Actual
results may differ materially from those included in the
forward-looking statements.
Readers are also directed to other risks and uncertainties
discussed in other documents filed by the Company with the
Securities and Exchange Commission. The Company undertakes
no obligation to update or revise any forward-looking
information, whether as a result of new information, future
developments or otherwise.
Overview
The Company was organized November 10, 1998, and is
considered to be a developmental stage company engaged in
the consulting and operations management consulting. The
Company has a limited operating history and has not
generated revenues from its operations. ALD Services'
activities have been limited to start-up procedures.
Consequently, the Company has incurred the expenses of such
procedures. Future operating results will depend on many
factors, including its ability to raise adequate working
capital, demand for its services, the level of competition
and its ability to satisfy governmental regulations and
deliver its services while maintaining quality and
controlling costs.
Plan of Operation
Management of the Company believes that the need for
additional capital going forward will be derived somewhat
from internal revenues and earnings generated from the sale
of its services. If the Company is unable to generate
revenues from its services, however, management believes the
Company will need to raise additional funds to meet its cash
requirements. It is the intent of the Company to seek to
raise additional capital via a private placement offering,
once the Company is trading on the OTC-BB. In the meantime,
management of the Company plans to advance funds to the
Company on an as-needed basis although there is no
definitive or legally binding arrangement to do so. The
Company currently has no arrangements or commitments for
accounts and accounts receivable financing. There can be no
assurance that any such financing can be obtained or, if
obtained that it will be on reasonable terms. This is a
development stage company. The Company believes that its
initial revenues will be primarily dependent upon the
Company's ability to cost effectively and efficiently
develop a consulting services. The Company designates as its
priorities for the next twelve (12) months of operations as
developing and marketing its services to establish its
business in the business services industry. Realization of
sales of the Company's services during the fiscal year
ending December 31, 2000 is vital to its plan of operations.
There are no guarantees that the Company will be able to
compete successfully or that the competitive pressures the
Company may face will not have a material adverse effect on
the Company's business, results of operations and financial
condition. Additionally, a superior competitive service
could force the Company out of business.
Results of Operations
Period from January 31, 1999 to December 31, 1999.
The operational period from January 31, 1999 to December 31,
1999, achieved two main goals for the Corporation. The
Company's goals were the formation of the organization to
pursue the Company's business objective and to obtain
sufficient capital to commence initial operations.
Revenues. ALD Services is a developmental stage company as
defined in SFAS #7. The Company has not generated any
revenues to date. The Company has devoted substantially all
of its present efforts to: (1) developing its presence in
the business services market, (2) marketing its services to
small to medium sized companies and (3) maintaining its
12(g) reporting requirements with the Securities Act of 1934
and its commencement of trading on the NASD Over-the-Counter
Bulletin Board ("OTC-BB").
Expenses. The Company incurred expenses for the operating
period January 31, 1999 to December 31, 1999, totaling
$2,997. Expenditures were primarily due to costs incurred
for professional fees, services and general and
administrative expenses. The Company's professional and
service expenses were incurred from its public listing
process on the NASD's OTC-BB which included the process of
the public offering in the State of Nevada, state Blue Sky
registrations, attorneys' fees, escrow and EDGARization
costs related to the offering, and audits and public filing
costs.
Net Loss. Due to the significant operating expenses, ALD
Services experienced a net loss of $2,997. The Company
anticipated incurring this loss during the initial
commencement of operations until such time that it will
realize revenues from employment services operations in the
fiscal year 2000.
Liquidity and Capital Resources
The Company has generated no revenues during this period and
it is unknown when it will generate significant revenues. It
is anticipated that the Company will realize revenues from
its services during the next twelve (12) months, of which
the Company cannot guarantee. The receipt of funds from
Private Placement Offerings or loans obtained through
private and public sources by ALD Services may be
anticipated to offset its near term cash equivalents for the
next twelve (12) months. The Company has financed its cash
flow requirements through issuance of common stock. During
its normal course of business, the Company may experience
net negative cash flows from operations, pending receipt of
revenues. Further, the Company may be required to obtain
additional financing to fund operations through common stock
offerings and bank borrowings, to the extent available, or
to obtain additional financing to the extent necessary to
augment its working capital.
Year 2000 Issue
The Company uses computer software programs and operating
systems in its internal operations, including applications
used in financial business systems and various
administrative functions. Although the Company's software
applications contain source code that appropriately
interpreted the calendar year 2000, failure by the Company
to make any future modifications resulting from "Year 2000"
could result in systems interruptions or failures that could
have a material adverse effect on the Company's business.
The Company has not incurred, nor anticipates that it will
incur material expenses to make its computer software
programs and operating systems "Year 2000" compliant.
However, there can be no assurance that unanticipated costs
necessary to update software, or potential systems
interruptions, will not exceed the Company's expectations
and have a material adverse effect on the Company's
business, financial condition and results of operations. In
addition, failure by key service providers to the Company,
such as its Web hosting service provider to make any future
modifications resulting from "Year 2000" could result in
systems interruptions or failures that could have a material
adverse effect on the Company's business.
ITEM 7. FINANCIAL STATEMENTS.
TABLE OF CONTENTS
PAGE
INDEPENDENT AUDITORS' REPORT 1
BALANCE SHEET 2
STATEMENT OF OPERATIONS 3
STATEMENT OF STOCKHOLDERS' EQUITY 4
STATEMENT OF CASH FLOWS 5
NOTES TO FINANCIAL STATEMENTS 6
James E. Slayton, CPA
2858 WEST MARKET STREET
SUITE C
FAIRLAWN, OHIO 44333
1 330-864-3553
INDEPENDENT AUDITORS REPORT
March 3, 2000
Board of Directors
ALD Services, Inc- (the Company)
Las Vegas, Nevada 89102
I have audited the Balance Sheet of ALD Services, Inc. (A
Development Stage Company), as, of December 31, 1998 and
December 31, 1999, and the related Statements of Operations,
Stockholders' Equity and Cash Flows for the period November
10, 1998 (Date of Inception) to December 31, 1998 and the
years ending December 31, 1999 and December 31, 1998. These
financial statements are the responsibility of the Company's
management. My responsibility is to express an opinion on
these financial statements based on my audit.
I conducted my audit in accordance with generally accepted
auditing standards. Those standards require that I plan and
perform the audit to obtain reasonable assurance about
whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis
evidence supporting the amounts and disclosures in the
financial statement presentation. An audit also assessing
the accounting principles used and significant estimates
made by management, as well as evaluating the overall
financial statement presentation. I believe that my audit
provides a reasonable basis for my opinion.
In my opinion, the financial statement referred to above
present fairly, in all material respects, the financial
position of ALD Services, Inc., (A Development Stage
Company), as of December 31, 1998 and December 31, 1999, and
the results of its operations and cash flows for the period
November 10, 1998 (Date of Inception) to December 31, 1999,
and years ending December 31, 1998 and December 31, 1999 in
conformity with generally accepted accounting principles.
The accompanying financial statements have been prepared
assuming the Company will continue as a going concern. As
discussed in Note 3 to the financial statements, the Company
has had limited operations and have not commenced planned
principal operations. This raises substantial doubt about
its ability to continue as a going concern. Management's
plan in regard to these matters are also described in Note
3. The financial statements do not include any adjustments
that might result from the outcome of this uncertainty.
/s/James E. Slayton, CPA
Ohio License ID# 04-1-15582
-1-
ALD Services, Inc.
(A Development Stage Company)
BALANCE. SHEET
AS AT
December 31, 1998 and December 31, 1999
December 31 December 31
1999 1998
ASSETS
CURRENT ASSETS
Cash 739.00 43.00
Other Current Assets 1,307.00 2,000.00
Total Current Assets 2,046.00 2,043.00
PROPERTY AND EQUIPMENT
Land 10,000.00 0.00
Total Property and Equipment 10,000.00 0.00
OTHER ASSETS
Organization Costs net of Amortization 235.00 285.00
TOTAL ASSETS 12,281.00 2,328.00
Liabilities & Equities
CURRENT LIABILITIES
Accounts Payable 0.00 0.00
Total Current Liabilities 0.00 0.00
OTHER LIABILITIES
Due to Shareholder 11,920.00 0.00
Total Other Liabilities 11,920.00 0.00
Total Liabilities 11,920.00 0.00
EQUITY
Capital Stock 2,106.00 1,900.00
Additional Paid in Capital 1,024.00 200.00
Donated Capital 295.00 295.00
Retained Earnings or (Deficit accumulated during (3,064.00) (67.00)
development stage)
Total Stockholders' Equity 361.00 2,328.00
TOTAL LIABILITIES & OWNER'S EQUITY 12,281.00 2,328.00
See accompanying notes to financial statements
-2-
ALD Services, Inc
(A Development Stage Company)
STATEMENT OF OPERATIONS
FOR PERIOD
November 10, 1998 (Date of Inception) to December 31, 1998
and the years ending December 31, 1999 and December 31, 1998
November 10, December 31 December 31
1998 1999 1998
(Date of
Inception)
to December
31,1999
REVENUE
Services 0.00 0.00 0,00
COSTS AND EXPENSES
Selling, General and 3,004.00 2,947.00 57.00
Administrative
Amortization of Organization 60.00 50.00 10.00
Costs
Total Costs and Expenses 3,064.00 2,997.00 67.00
Net Ordinary Income or (Loss) (3,064.00) (2,997.00) (67.00)
Weighted average number of 2,106,000 2,106,000 2,106,000
common shares outstanding
Not Loss Per Share (0.001) (0.001) 0.000
See accompanying notes to financial statements
-3-
ALD Services, Inc.
(A Development Stage Company)
STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY FOR PERIOD
November 10, 1998 (Date of Inception) to December 31, 1998
and the years ending December 31, 1999 and December 31,1998
Common Stock Addition Donated Deficit Total
al paid- Capital Accumula Sotckho
in ted lder's
Capital During Equity
Developm
ent
Stage
Shares Amount
November 10, 295.00 295.00
1998 Donated
Capital from
Stockholders
November 12, 1,900,000 1,900.00 200.00 2,100.0
1998 Issued 0
for cash
Net loss (67.00) (67.00)
November 10,
1998
(inception) to
December 31,
1998
Balances as at 1,900,000 1,900.00 200.00 295.00 (67.00) 2,328.00
December 31,
1998
April 2, 1999 206,000.0 206.00 824.00 1,030.0
Received stock 0 0
Subscription
for cash and
services
rendered
Net loss (2,997.0 (2,997.
January 1, 0) 00)
1990 to
December
31,1999
Balances as at 2,106,000 2,106.00 1,024.00 295.00 (3,064.0 361.00
December 0)
31,1999
See accompanying notes to financial statements
-4-
ALD Services, Inc.
(A Development Stage Company)
STATEMENT OF CASH FLOWS FOR PERIOD
November 10, 1998 (Date of Inception) to December 31, 1993
and the years ending December 31, 1999 and December 31, 1998
November 10, December 31 December 31
1998 1999 1998
(date of
Inception)
to
December 31,
1999
Cash Flows From Operating Activities
Net Income Or (Loss) From Operations (3,064.00) (2,997.00) (67.00)
Adjustments To Reconcile Net Income
To Net Cash Provided
Amortization Of Organization Costs 60.00 50.00 10.00
Services In Exchange For Stock 125.00 125.00
Decrease (Increase) In Current 693.00 693.00 (2,000.00)
Assets
Net Cash Provided By Operating (2,186.00) (2,129.00) (2,057.00)
Activities
Cash Flows From Investing Activities
Purchase Of Land (10,000.00) (10,000.00) 0.00
Net Cash Used By Investing (10,000.00) (10,000.00) 0.00
Activities
Cash Flows From Financing Activities
Issuance Of Capital Stock 1,005.00 905.00 2,100.00
Advances From Shareholders 11,920.00 11,920.00 0.00
Net Cash Provided By Financing 12,925.00 12,825.00 2,100.00
Activities
Balance At Beginning Of Period 0.00 43.00 0.00
Net Increase (Decrease) In Cash 739.00 696.00 43.00
Balance As At End Of Period 739.00 739.00 43.00
See accompanying notes to financial statements
-5-
ALD Services, Inc.
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
NOTE I - HISTORY AND ORGANIZATION OFTHE 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
S.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 cost of organization, $295.00, is being
amortized over a period of 60 months (November
1998 through October 2003)
3. Basic earnings per share are 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.
-6-
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 TRANSACTION
The Company neither owns or leases any real or personal
property. The officers and director 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.
-7-
PART III
ITEM 9. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL
PERSONS; COMPLIANCE WITH SECTION 16(A) OF THE EXCHANGE ACT.
The information required in this item is incorporated by
reference to this document and the section entitled
"EMPLOYEES".
ITEM 10. EXECUTIVE COMPENSATION.
The following table sets forth all cash compensation to be
paid by the Company to its officers, directors, and
significant employees.
NAME OF POSITION WITH COMPANY ANNUAL COMPENSATION
INDIVIDUAL
Frank Danesi, President and Director $12,000
Jr.
Footnotes to Executive Compensation:
1. No executive officer of the Company prior to December
31, 1999 drew a salary from the Company.
2. There were no arrangements, pursuant to which any
director of the Company was compensated for the period from
inception for any service provided as a director. While the
Company's only directors are its current executive officers
who are already drawing a salary for the management of the
Company it may be necessary for the Company to compensate
newly appointed Directors in order to attract a quality
governance team. At this time the Company has not identified
any specific individuals or candidates nor has it entered
into any negotiations or activities in this regard.
EMPLOYMENT AGREEMENTS
The Company does not currently have employment agreements
with its executive officers but expects to sign employment
agreements with each in the near future.
ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
MANAGEMENT.
The information required by this Item concerning the stock
ownership of management and five percent beneficial owners
is incorporated herein by reference to ITEM 5 of this
document entitled, "MARKET FOR REGISTRANT'S COMMON EQUITY
AND RELATED STOCKHOLDER MATTERS".
ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.
None.
ITEM 13. EXHIBITS
(a) Exhibits:
A list of exhibits required to be filed as part of this
Annual Report is set forth in the Index to Exhibits, which
immediately precedes such exhibits and is incorporated
herein by reference.
SIGNATURES
In accordance with the requirements of Section 13 or 15(d)
of the Exchange Act, the registrant caused this report to be
signed on its behalf by the undersigned, thereunto duly
authorized.
ALD Services, Inc.
Date: March 30, 2000
By: /s/Frank Danesi, Jr.
President and Director
INDEX TO EXHIBITS
Exhibi Name and/or Identification of Exhibit
Number
3. (1) Articles of Incorporation & By-Laws
(a) Articles of Incorporation of the Company filed November
30, 1998
(b) By-Laws of the Company adopted November 12, 1998
4. Instruments Defining the Rights of Security Holders
No instruments other than those included in Exhibit 3
11. Statement Re-Computation of Per Share Earnings
Computation of per share earnings can be clearly determined
from the table set forth in Note 2 of the Company's
financial statements
23. Consent of Experts and Counsel
Consents of independent public accountants
27. Financial Data Schedule
Financial Data Schedule of ALD Services, Inc. ending
December 31, 1999
(1) The copy of this exhibit filed as the same exhibit to
the Company's Registration Statement on Form 10-SB and
amendments thereto, is incorporated herein by reference.
SIGNATURES
In accordance with Section 12 of the Securities Exchange Act
of 1934, the registrant caused this registration statement
to be signed on its behalf by the undersigned, thereunto
duly authorized.
ALD Services, Inc.
------------------------------------------------------------
--------------------
(Registrant)
Date: March 30, 2000
By: /s/Frank Danesi, Jr., President and Director
