UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10QSB
X QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Commission file number 0-27285
ENGENYOUS Technologies, Inc
(Name of registrant as specified in its charter)
Delaware 13-375-4705
(State or other jurisdiction (I.R.S. Employer Identification No)
of incorporation or organization)
400 S Dixie Highway Hallandale Beach Fl 33009
(Address of principal executive offices) (Zip Code)
Registrant's telephone number (954) 458-3311
Indicate by check mark whether the registrant (1) has filed
all reports required to be filed by Section 13 or 15(d) of
the SecuritiesExchange Act of 1934 during the preceding 12
months (or for such shorterperiod 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
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There were 3.769.385 shares of common stock with a par value
of $0.001 per share outstanding at April 30, 2000.
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PART I - FINANCIAL INFORMATION
Item 1. Financial Statements (Unaudited)
Consolidated balance sheets - April 30, 2000.
Consolidated statements of income - Nine months
April 30, 2000.
Notes to consolidated financial statements -
April 30, 2000.
Item 2. Management's Discussion and Analysis or Plan of Operation.
PART II - OTHER INFORMATION
Item 1. Legal Proceedings
Item 2. Changes in Securities and use of Proceeds
Item 3. Defaults upon Senior Securities.
Item 4. Submission of Matters to a Vote of Security Holders.
Item 5. Other Information.
Item 6. Exhibits and Reports on Form 8-K.
SIGNATURES
ENGENYOUS Technologies Inc.
Interim Consolidated Statement
of Income & Retained Earnings ( Unaudited)
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For six months For nine months
ended For ended
Revenue 01/31/2000 04/30 2000
Sales $ 172.766 $ 215.956
* TOTAL $ 172.766 $ 215.956
======= =======
Cost of Sales
Purchase $ 81.200 $ 105.316
* TOTAL $ 81.200 $ 105.316
========= =======
*NET SALES $ 91.566 $ 110.640
========= =======
Selling Expenses
Advertising $ 6.325 $ 6.325
Advertising Printing 9.050 10.250
Travel & Entertainment 14.674 18.572
*TOTAL $ 30.049 $ 35.147
========= =========
General Expenses
Accounting $ 6.350 $ 8.550
Payroll 6.750 11.250
Depreciation 0 0
Legal Fee 7.850 9.350
Offices 3.225 4.725
Bank 2.214 3.125
Postage 3.304 3.672
Telephone 3.224 4.824
Rent 6.204 9.306
Electric 537 806
Misc 1.954 2.931
*TOTAL $ 41.612 $ 58.537
======= =======
*TOTAL EXPENSES $ 71.661 $ 93.684
*NET $ 19.905 $ 16.956
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ENGENYOUS Technologies, Inc.
Interim Consolidated Balance Sheet ( Unaudited)
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ASSETS 01/31/2000 04/30/2000
Current Assets
Cash $ 9.215 3.251
Trade Receivable 39.734 37.193
Inventory 105.757 102.757
-------- -------
TOTAL Current Assets 154.706 143.201
Property & Rquipment ( Net) 77.546 77.546
Research & Development 351.809 351.809
TOTAL Assets $ 584.061 572.556
========= ========
LIABILITES & STOCKHOLDERS LIABILITIES
Current Liabilities
Trade Acct. Patable $ 42.193 33.637
Current potion L/T Debt 41.750 41.750
----------- -------
TOTAL Current Liabilities $ 83.943 75.387
Long Term Liabilities 0 0
TOTAL Long Term Liabilities 0 0
Stockholders' Equity
Common Stock $.001 par value 5.000 5.000
Authorized- 20.000.000 Shares
Issued and Outanding -
3.678.500 Shares
Share Premium 236.350 236.350
Addtional paid Capital 26.900 26.900
Retained Earning 211.963 211.963
Net Profit 19.905 16.956
-------- --------
TOTAL Stockholders' Equity $ 500.118 497.169
----------- --------
Total Liabilities $
Stockholders's Equity $ 584.061 572.556
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ENGENYOUS Technologies Incc
Statement of Cash Flows (unaudited)
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For 6 months For 9 months
ended 01/31/2000 04/30/2000
Cash Flows from operating 19.905 3.251
activities: Net profit (loss)
Adjustments to Reconcile Net Loss
to Net Cash Used in Operating
Activities:
Changes in Assets and Liabilites
Increase/(Decrease) in
Accounts Payable and Accrued
Expenses 0 0
Additional Paid in Capital
Contributed by Shareholders 26.900 26.900
Total Adjustments 46.805 43.844
Net Cash Used in
Operating Activites 152.861 199.000
Cash Flows from financing
Activites:
Increase in Loan Payable 0 0
Net Cash Provided by
Financing Activities 0 0
Net Change in Cash 10.690 13.705
Cash at Beginning of Period 9.215 3.251
Cash at End of Period 19.905 16.956
Supplemental Disclosure of
Cash Flow Information
Cash Paid During the period for
Interest Expense 2.214 3.125
Corporate Tax 0 0
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<PAGE>
ENGENYOUS Technologies. Inc.
Notes to Consolidated Financial Statements (unaudited)
For the 9 Months ending April 30, 2000.
The Consolidated financial statements for the nine months as
of April 30, 2000, were prepared by the Registrant without
audit pursuant to the rules and regulations of the
Securities and Exchange Commission ("SEC"). Certain information
and footnote disclosures normally included in financial
statements prepared in accordance with generally accepted
accounting principles have been condensed or omitted pursuant
to such rules and regulations. In the option of management,
all necessary adjustments to the financial statements have been
made to present fairly the financial position, results of
operations, and cash flows. The results of operations for
the period presented are not necessarily indicative
of the results for the respective complete years. The Registrant
has previously filed with the SEC an annual report on
Form 10SB12G/A, which included audited financial statements for
the year ended July 31, 1999. The financial statements contained
in this filing should be read in conjunction with the statements
and notes thereto.
Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS
ENGENYOUS Technologies Ind (the "Company") was incorporated on
April 7 1988, under the laws of the State of Delaware to engage
in any lawful corporate undertaking. On September 8, 1999 as
amended October 21, 1999 the Company submitted its Form 10-SB
to the Securities and Exchange Commission, which was declared
effective on November 10,1999, at which time the Company became
a reporting company under Section 12(g) of the 1934 Securities
and Exchange Act.
The Company will engage in the business-to-business e-commerce
of providing turnkey conversions of e-commerce websites into any
language. This website will be launched on May 12, 2000 on 130
search engines around the world. We do not translate and adapt
the software content, but rebuild, test and fix the localized
product by converting it into any language of the world.
e-Conversions2.com will enable a successful web conversion
for e-commerce for the customer on an international scale.
The Company commenced operations in its Hallandale Beach location
on August 1997 developing and marketing encryption software,
encryption and decryption protocol for LANs, WANs and E-commerce
digital certificate to secure information and E-commerce
transactions. The UEL/2001 Encryption digital certificate ensures
that e-transations is not altered in transit. The identity of
both sender and recipient is validated, and one party cannot later
repudiate it. Digital certificates, which are being encourage by
the European Commission and the US administration, are designed
to authenticate the identity of e-commerce traders. This market
islikely to grow significantly as online sales rise.
At the same time the Company is marketing its languages courses
Learn English, Learn Spanish and Aprenda Ingles on CD-Rom for
computers.
Further the Company has during the last year developed four
web sites: Engenyous.com to serve as an identity site and
sell its encryption and languages products, Electradoc.com
to serve as e-commerce communication site for secure document
delivery with evidence tracking using the Company's UEL/2001
encryption software, e-conversions2.com to provide
fully turnkey conversions of e-commerce websites into any
language and Edocshop as a commercial site with merchandise
for sale and free turnkey web sites for edocshop members to
start their own business in the cyber space at present in eleven
different languages.
As the Company's activities have expanded and to maintain its
state-of-art status the management is constantly being updated
on all new industry developments. The need to increase both
facilities and staff has become imperative. The Company's is
currently negotiating for a 6.800 sq.ft office space at 550
Broad Street, Newark, New Jersey with First Union Bank.
The management intends to augment its staff immediately to
30 people; administration, marketing and technical staff for
further development of its products as well as all the
computer hardware and software necessary to implement its
marketing efforts to companies and on the Internet and
especially with the e-conversions2.com in mind, which will
addresses its task to managements for global business that
realize the international potential of their business - is
to present their products in the Global market.
PART II - OTHER INFORMATION
Item 1. Legal Proceedings
NONE
Item 2. Changes in Securities and use of Proceeds
In April 2000, the Company issued 90,885 shares to Clyde Smyth
having an aggregate value of $ 90.885. The shares were issued as
consideration for services rendered for the period from august
1997 to april 1, 1998 for the development of electradoc
technology and specifications.
The $90.885 was previously recorded as retained earnings in
our July 31,1999 Financial Statements.
The shares are exempt from the registration requirements of the
Securities Act pursuant to Section 4(2) of the Securities Act
of 1933.
Item 3. Defaults upon Senior Securities.
NONE
Item 4. Submission of Matters to a Vote of Security Holders.
NONE
Item 5. Other Information.
NONE
Item 6. Exhibits and Reports on Form 8-K
(a) Exhibit 27.1 Financial Data Schedule
(b) The Company did not file any reports on Form 8-K during
the nine months ended April 30, 2000.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly
authorized.
Dated May 5, 2000 /s/ Clyde Smyth
----------------------------
Clyde Smyth, Chairman, and
Chief Executive Officer
Dated May 5, 2000 /s/ Margareta Totems
----------------------------
Margareta Totems
Chief Financial Officer
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<ARTICLE> 5
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL
FORMATION EXTRACTED FROM INTERIM BALANCE SHEET 04/30/2000
AND IS QUALIFIED INITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS
FINANCIAL DATA SCHEDULE
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<PERIOD-END> APRIL 30-2000
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<COMMON> 5.000
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</TABLE>
