UNITED STATES
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 quarterly period ended: June 30, 2000
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)
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
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 June 30, 2000 and December 31, 1999 5
Income Statement for the period ended June 30, 2000 and the 6
period ended June 30, 1999
Statement of Cash Flows for the period ended June 30, 2000 7
and the period ended June 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
ALD Services, Inc.
(A DEVELOPMENT STAGE COMPANY)
FINANCIAL STATEMENTS
FOR PERIOD ENDING
June 30, 2000
James E. Slayton, CPA
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2858 WEST MARKET STREET
SUITE C
FAIRLAWN, OHIO 44333
1-330-864-3553
INDEPENDENT AUDITORS' REPORT
July 13, 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 June 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
PART I - FINANCIAL INFORMATION
Item 1. Audited Financial Statements
ALD Services, Inc.
(A Development Stage Company)
BALANCE SHEET
AS AT
December 31, 1999 and June 30, 2000
June 30 December 31
2000 1999
ASSETS
CURRENT ASSETS
Cash 3,224.00 739.00
Accounts Receivable 1,611.00 0.00
Other Current Assets 1,307.00 1,307.00
Total Current Assets 6,142.00 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 222.00 235.00
Amortization
TOTAL ASSETS 16,364.00 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 9,720.00 11,920.00
Total Other Liabilities 9,720.00 11,920.00
Total Liabilities 9,720.00 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 3,219.00 (3,064.00)
accumulated during development
stage)
Total Stockholders' Equity 6,644.00 361.00
TOTAL LIABILITIES & 16,364.00 12,281.00
STOCKHOLDERS' EQUITY
See accompanying notes to financial statements
ALD Services, Inc.
(A Development Stage Company)
STATEMENT OF OPERATIONS
FOR PERIOD ENDING
June 30, 2000
June 30 June 30
2000 1999
REVENUE
Services 11,517.00 0.00
COSTS AND
EXPENSES
Selling, General and 5,221.00 2,483.00
Administrative
Amortization of 13.00 13.00
Organization Costs
Total Costs and 5,234.00 2,496.00
Expenses
Net 6,283.00 (2,496.00)
Ordinary Income or
(Loss)
Weighted average 2,106,000 2,106,000
number of common
shares outstanding
Net Income 0.003 0.00
Per Share
See accompanying notes to financial statements
ALD Services, Inc.
(A Development Stage Company)
STATEMENT OF CASH FLOWS
FOR PERIOD ENDING
June 30, 2000
June 30, June 30,
2000 1999
CASH FLOWS FROM OPERATING ACTIVITIES
Net income or (loss) from 6,283.00 (2,496.00
operations )
Adjustments to reconcile net
income to net cash
Provided
Amortization of organization costs 13.00 12.00
Services in exchange for stock 0.00 0.00
Decrease (Increase) in current (1,611.00) 0.00
assets
(Decrease)/Increase in current (2,200.00)
liabilities
Net Cash provided by 2,485.00 (2,484.00
Operating 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 0.00 3,180.00
financing activities
Balance at beginning of 739.00 43.00
period
Net increase (decrease) in 2,485.00 696.00
cash
Balance as at end of period 3,224.00 739.00
See accompanying notes to financial statements
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 cost of organization, $295.00, is being amortized over
a period of 60 months (November 1998
through October 2003).
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.
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.
Item 2. Management's Discussion and Plan of Operation
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 $11,517 as of June 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. From January through March of calendar
year 2000, ALD provided support services for Stockwatchman, Inc. by
aiding them in the development of their company's infrastructure.
Payment for these services is reflected in the revenues generated as
of June 30, 2000. Additionally, the company has entered in several
other strategic partnerships that should add proportionately to
revenues in the following two quarters.
As of June 30, 2000, the Company has developed a business plan,
recruited and retained a management team and raised capital via an
offering made in reliance upon an exemption from the registration
provisions of the Securities Act of 1933, as amended, in accordance
with Regulation D, Rule 504. Also they have executed one contract,
as stated above, and are in talks with two other companies to
provide similar support services. At this time, the Company has no
new products or services to announce, however, they are in the
process of writing software to improve the quality of project
management. It will differ from existing project management
software, in that ALD's software will provide numerous prompts in a
variety of areas to ensure that the execution of mandatory daily
events occur.
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
seek additional capital through a private offering of its securities
once it gets 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. Until such time as the company
has the required revenue to cover the cost of operations, the
officer and director of the company has committed to advance the
operating of the company interest free.
The officer and director of the Company is involved in other
business activities and may, in the future, become involved in other
business opportunities. If a specific business opportunity becomes
available, said person might face a conflict in selecting between
the Company and his other business interests. The Company has not
formulated a policy for the resolution of such conflicts.
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 March 31, 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
Consents of independent public accountants
27 Financial Data Schedule
Financial Data Schedule of ALD Services, Inc. ending June
30, 2000
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: August 9, 2000
By:/s/ Frank Danesi, Jr.
Frank Danesi, Jr., President and Director
