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Previous: FINDERS KEEPERS INC, PRE 14A, 2000-05-18 |
Next: TRIAD HOSPITALS HOLDINGS INC, 424B3, 2000-05-18 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB
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(Mark One) |
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[X] |
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
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For the quarterly period ended: March 31, 2000 |
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Or |
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[ ] |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
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For the transition period from ____________ to _____________ |
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Commission File Number: |
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ALD Services, Inc. (Exact name of registrant as specified in its charter) |
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Nevada (State or other jurisdiction of incorporation or organization) |
88-0408274 (I.R.S. Employer Identification No.) |
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8787 Washburn Road, Las Vegas, Nevada (Address of principal executive offices) |
89129 (Zip Code) |
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(702) 683-7896 |
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N/A (Former name, former address and former fiscal year, if changed since last report) |
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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
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Page |
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PART I - FINANCIAL INFORMATION |
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Item 1. Financial Statements |
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Independent Accountant's Review Report |
4 |
Balance Sheet March 31, 2000, December 31, 1999 and December 31, 1998 |
5 |
Income Statement for the period November 10, 1998 (Date of Inception) to March 31, 2000; the Quarter ended March 31, 2000; the year ended December 31, 1999 and the year ended December 31, 1998. |
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Statement of Changes in Stockholders' Equity for the period November 10, 1998 (Date of Inception) to March 31, 2000; the Quarter ended March 31, 2000; the year ended December 31, 1999 and the year ended December 31, 1998. |
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Statement of Cash Flows for the period November 10, 1998 (Date of Inception) to March 31, 2000; the Quarter ended March 31, 2000; the year ended December 31, 1999 and the year ended December 31, 1998. |
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Notes to Financial Statements |
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Item 2. Management's Discussion and Plan of Operation |
11 |
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PART II - OTHER INFORMATION |
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Item 6. Exhibits |
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SIGNATURES |
12 |
James E. Slayton, CPA
INDEPENDENT AUDITORS' REPORT
April 27, 2000
Board of Directors
ALD Services, Inc. (the Company)
Las Vegas, Nevada 89102
I have reviewed the Balance Sheet of ALD Services, Inc. (A Development Stage Company), as of December 31, 1998, December 31, 1999 and March 31, 2000 and the related Statements of Operations, Stockholder's Equity and Cash Flows for the period November 10, 1998 (Date of Inception) to March 31, 2000 and the years ending December 31, 1998 and December 31, 1999. 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 from material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statement presentation. An audit also includes 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 statements 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, December 31, 1999 and March 31, 2000, 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 #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, 1998, December 31, 1999 and March 31, 2000
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March 31, 2000 |
December 31, 1999 |
December 31, 1998 |
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ASSETS |
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CURRENT ASSETS |
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Cash |
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703.00 |
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739.00 |
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43.00 |
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Other Current Assets |
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1,307.00 |
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1,307.00 |
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2,000.00 |
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Total Current Assets |
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2,010.00 |
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2,046.00 |
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2,043.00 |
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PROPERTY AND EQUIPMENT |
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Land |
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10,000.00 |
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10,000.00 |
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0.00 |
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Total Property and Equipment |
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10,000.00 |
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10,000.00 |
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0.00 |
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OTHER ASSETS |
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Organizational Costs net of Amortization |
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220.00 |
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235.00 |
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285.00 |
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TOTAL ASSETS |
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12,232.00 |
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12,281.00 |
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2,328.00 |
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LIABILITIES & EQUITY |
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CURRENT LIABILITIES |
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Accounts Payable |
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0.00 |
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0.00 |
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0.00 |
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Total Current Liabilities |
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0.00 |
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0.00 |
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0.00 |
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OTHER LIABILITIES |
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Due to Shareholder |
11,920.00 |
11,920.00 |
0.00 |
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Total Other Liabilities |
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11,920.00 |
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11,920.00 |
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0.00 |
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Total Liabilities |
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11,920.00 |
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11,920.00 |
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0.00 |
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EQUITY |
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Capital Stock |
2,106.00 |
2,106.00 |
1,900.00 |
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Additional Paid in Capital |
1,024.00 |
1,024.00 |
200.00 |
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Donated Capital |
295.00 |
295.00 |
295.00 |
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Retained Earnings or (Deficit accumulated during development stage) |
(3,113.00) |
(3,064.00) |
(67.00) |
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Total Stockholders' Equity |
312.00 |
361.00 |
2,328.00 |
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TOTAL LIABILITIES & STOCKHOLDERS' EQUITY |
12,232.00 |
12,281.00 |
2,328.00 |
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See accompanying notes to financial statements
ALD Services, Inc.
(A Development Stage Company)
STATEMENT OF OPERATIONS
FOR PERIOD
November 10, 1998 (Date of Inception) to March 31, 2000
and the years ending December 31, 1999 and December 31, 1998
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November 10, 1998 (Date of Inception) to March 31, 2000 |
March 31 2000 |
December 31 1999 |
December 31 1998 |
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REVENUE |
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Services |
0.00 |
0.00 |
0.00 |
0.00 |
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COSTS AND EXPENSES |
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Selling, General and Administrative |
3,040.00 |
36.00 |
2,947.00 |
57.00 |
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Amortization of Organization Costs |
73.00 |
13.00 |
50.00 |
10.00 |
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Total Costs and Expenses |
3,113.00 |
49.00 |
2,997.00 |
67.00 |
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Net Ordinary Income or (Loss) |
(3,113.00) |
(49.00) |
(2,997.00) |
(67.00) |
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Weighted average number of common shares outstanding |
2,106,000 |
2,106,000 |
2,106,000 |
2,106,000 |
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Net Loss Per Share |
(0.001) |
0.000 |
(0.001) |
0.000 |
See accompanying notes to financial statements
ALD Services, Inc.
(A Development Stage Company)
STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
FOR PERIOD
November 10, 1998 (Date of Inception) to March 31, 2000
and the years ending December 31, 1999 and December 31, 1998
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Common Stock |
Additional Paid-In |
Donated |
Accumulated |
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Shares |
Amount |
Capital |
Capital |
Deficit |
Total |
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November 10, 1998 Donated Capital from Stockholders |
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295.00 |
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295.00 |
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November 12, 1998 Issued for cash |
1,900,000 |
1,900.00 |
200.00 |
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2,100.00 |
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Net loss November 10, 1998 (Inception) to December 31, 1998 |
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(67.00) |
(67.00) |
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Balances as at December 31, 1998 |
1,900,000 |
1,900.00 |
200.00 |
295.00 |
(67.00) |
2,328.00 |
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April 2, 1999 Received stock subscription For cash and services Rendered |
206,000 |
206.00 |
824.00 |
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1,030.00 |
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Net loss January 1, 1999 To December 31, 1999 |
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(2,997.00) |
(2,997.00) |
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Balances as at December 31, 1999 |
2,106,000 |
2,106.00 |
1,024.00 |
295.00 |
(3,064.00) |
361.00 |
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Net loss January 1, 2000 To March 31, 2000 |
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(49.00) |
(49.00) |
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Balances as at March 31, 2000 |
2,106,000 |
2,106.00 |
1,024.00 |
295.00 |
(3,113.00) |
312.00 |
See accompanying notes to financial statements
ALD Services, Inc.
(A Development Stage Company)
STATEMENT OF CASH FLOWS
FOR PERIOD
November 10, 1998 (Date of Inception) to March 31, 2000
and the years ending December 31, 1999 and December 31, 1998
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November 10, 1998 (Date of Inception) to March 31, 2000 |
March 31 2000 |
December 31 1999 |
December 31 1998 |
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CASH FLOWS FROM OPERATING ACTIVITIES |
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Net income or (loss) from operations |
(3,113.00) |
(49.00) |
(2,997.00) |
(67.00) |
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Adjustments to reconcile net Income to net cash Provided |
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Amortization of organization costs |
73.00 |
13.00 |
50.00 |
10.00 |
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Services in exchange for stock |
125.00 |
0.00 |
125.00 |
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Decrease (Increase) in current assets |
693.00 |
0.00 |
693.00 |
(2,000.00) |
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Net Cash provided by Operating Activities |
(2,222.00) |
(36.00) |
(2,129.00) |
(2,057.00) |
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CASH FLOWS FROM INVESTING ACTIVITIES |
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Purchase of land |
10,000.00 |
0.00 |
10,000.00 |
0.00 |
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Net Cash used by Investing Activities |
(10,000.00) |
0.00 |
(10,000.00) |
0.00 |
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CASH FLOWS FROM FINANCING ACTIVITIES |
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Issuance of Capital Stock |
1,005.00 |
0.00 |
905.00 |
2,100.00 |
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Advances from Shareholders |
11,920.00 |
0.00 |
11,920.00 |
0.00 |
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Net Cash provided by financing activities |
12,925.00 |
0.00 |
12,825.00 |
2,100.00 |
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Balance at beginning of period |
0.00 |
739.00 |
43.00 |
0.00 |
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Net increase (decrease) in cash |
703.00 |
(36.00) |
696.00 |
43.00 |
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Balance as at end of period |
703.00 |
703.00 |
739.00 |
43.00 |
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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, as 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:
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, 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.
Results of Operations
The Company has not generated any revenues since its inception. The Company has limited operating history. The Company was organized on November 10, 1998. Activities to date have been limited primarily to organization, initial capitalization, finding and securing a management team and board of directors, the development of a business plan and web site operations and commencing with initial operational plans.
As of March 31, 2000, the Company has developed a business plan, recruited and retained a management team and raised capital via a private placement offering of stock made pursuant to Section 4(2) of the Securities Act of 1933, as amended, and 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. As a start-up and development stage company, the Company has no new products or services to announce.
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.
The Company has yet to generate any 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 to allow it to continue as a going concern indefinitely. Until that time, the officers have committed to advance the operating costs the company interest free.
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.
PART II - OTHER INFORMATION
Item 6. Exhibits
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Exhibit Number |
Name and/or Identification of Exhibit |
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3 |
Articles of Incorporation & By-Laws |
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(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. |
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(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. |
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13 |
Annual or Quarterly Reports (a) Form 10-KSB for the year ended December 31, 1999. Incorporated by reference to the Company's Quarterly Report for Small Business Issuers on Form 10-KSB, previously filed with the Commission. |
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23 |
Consent of Experts and Counsel |
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Consents of independent public accountants |
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27 |
Financial Data Schedule |
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Financial Data Schedule of ALD Services, Inc. ending March 31, 2000 |
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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: May 17, 2000
By:/s/ Frank Danesi, Jr.
Frank Danesi, Jr., President and Director
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