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 No X
=============================================================
There were 3.678.500 shares of common stock with a par value
of $0.001 per share outstanding at March 20, 2000.
<PAGE>
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements (Unaudited)
Consolidated balance sheets - January 31, 2000
And October 31, 1999.
Consolidated statements of income - Three months
ended October 31,1999 and January 31, 2000.
Notes to consolidated financial statements -
January 31, 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)
<TABLE>
<C> <C> <C>
For six months For Three months
ended For ended
Revenue 01/31/2000 10/31/1999
Sales $ 172.766 $ 75.400
* TOTAL $ 172.766 $ 75.400
======= =======
Cost of Sales
Purchase $ 81.200 $ 35.250
* TOTAL $ 81.200 $ 35.250
========= =======
*NET SALES $ 91.566 $ 40.150
========= =======
Selling Expenses
Advertising $ 6.325 $ 2.575
Advertising Printing 9.050 3.500
Travel & Entertainment 14.674 6.157
*TOTAL $ 30.049 $ 12.232
========= =========
General Expenses
Accounting $ 6.350 $ 2.500
Payroll 6.750 3.500
Depreciation 0 0
Legal Fee 7.850 4.250
Offices 3.225 1.250
Bank 2.214 1.107
Postage 3.304 1.476
Telephone 3.224 1.574
Rent 6.204 3.102
Electric 537 240
Misc 1.954 975
*TOTAL $ 41.612 $ 19.974
======= =======
*TOTAL EXPENSES $ 71.661 $ 32.206
*NET $ 19.905 $ 7.944
</TABLE>
<PAGE>
ENGENYOUS Technologies, Inc.
Interim Consolidated Balance Sheet ( Unaudited)
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<C> <C> <C>
ASSETS 01/31/2000 10/31/1999
Current Assets
Cash $ 9.215 13.315
Trade Receivable 39.734 43.314
Inventory 105.757 120.750
-------- -------
TOTAL Current Assets 154.706 177.379
Property & Rquipment ( Net) 77.546 77.546
Research & Development 351.809 301.809
TOTAL Assets $ 584.061 556.734
========= ========
LIABILITES & STOCKHOLDERS LIABILITIES
Current Liabilities
Trade Acct. Patable $ 42.193 44.727
Current potion L/T Debt 41.750 41.750
----------- -------
TOTAL Current Liabilities $ 83.943 86.477
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 9.000
Retained Earning 211.963 21l.963
Net Profit 19.905 7.944
-------- --------
TOTAL Stockholders' Equity $ 500.118 470.257
----------- --------
Total Liabilities $
Stockholders's Equity $ 584.061 556.734
</TABLE>
<PAGE>
ENGENYOUS Technologies. Inc.
Notes to Consolidated Financial Statements (unaudited)
For the three Months ending October 31, 1999 and for the six
Months ending January 31, 2000.
The Consolidated financial statements as of October 31, 1999
and for the three months then ended and for January 31, 2000
for the six months then ended were prepared by the Registrant
without audit pursuantto the rules and regulations of the
Securitiesand 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 respective periods 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 is engaging in the business-to-business e-commerce of
providing turnkey conversions of e-commerce websites into 150
languages.
The Company commenced operations in its Hallandale Beach location
on August 1997 developing and marketing encryption software,
encryptionand decryption protocol for LANs, WANs and E-commerce
digital certificateto secure information and E-commerce
transactions. At the same time theCompany has been 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, e-conversions2.com to provide
fully turnkey conversions of e-commerce websites into 150
languages 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 in ten different
languages.
As the Company's activities have expanded and to maintain its
state-of-artstatus 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 Jerseywith 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
computerhardware 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 managementsfor global business that
realize the international potential of their business - is
to present their products in the Global market. An obvious
step in this process is to ensure that they communicate
effectively with these foreign markets in their own
languages - CONVERSION.
PART II - OTHER INFORMATION
Item 1. Legal Proceedings
NONE
Item 2. Changes in Securities and use of Proceeds
During the first and second fiscal quarter, ended January 31,
2000 the Company sold the following shares of common stock
pursuant to rule 506, Regulation D of the Securities Act of 1933.
<TABLE>
<C> <C> <C> <C> <C> <C>
Date Name Relationship Common Per Paid
To Company Stock Shares
# shares
08/23/99 Private Investor None 200 6.00 1.200
08/22/99 Private Investor None 400 6.00 2.400
08/30/99 Private Investor None 1.200 5.00 6.000
11/15/99 Private Investor None 125.000 0.10 12.500
11/15/99 Financial OfficerDirector 48.800 0.10 4.800
</TABLE>
No underwriting discounts or commissions were paid in connection
with anyof the above sales. For all of the above sales, the
registrant claimed exemption from registration under 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.
a) Shareholders list regarding services rendered and
additional paid in capital.
Equity securities of the registrant sold by the Registrant
during the period January 1998 and ended July 31, 1999 that
were not registered under the Securities Act were:
<TABLE>
<C> <C> <C> <C> <C>
Date of Title Number
of of
Shares Shares Purchases Consideration
05/01/98 Common Stock 225.000 Cynthia Robinson Prepaid Services
value at 22500
05/01/98 Common Stock 5.000 Larry Berk Prepaid Sevices
valued at $3000
05/01/98 Common Stock 25.000 Rosetta Brownlee Prepaid Services
valued at $ 7500
05/01/98 Common Stock 1.500 Interspace Prepaid Services
Bill Ellison valued at $525
05/01/98 Common Stock 5.000 Ted Robinson Prepaid Services
valued at $1500
05/01/98 Common Stock 50.000 Seymore Systems Prepaid Services
Jesse Seymore valued at $25000
05/01/98 Common Stock 73.200 Corey Smyth Prepaid Services
valued at $25000
05/01/98 Common Stock 5.000 Cecilia Hunter Prepaid Services
valued at $1500
05/01/98 Common Stock 75.000 Melba Outler Prepaid Services
valued at $35000
05/01/98 Common Stock 15.000 Rosa Porter Prepaid Services
valued at $1500
</TABLE>
No underwriting discounts or commissions were paid in connection
with any of the above sales. For all of the above sales, the
registrant claimed exemption from registration under Section 4(2)
of the Securities Act of 1933.
(b) Identity of officers, directors and principal
shareholders that own 5 percent or more of the
securities are:
Clyde Smyth , Officer, Director, Principal shareholder
Margareta Totems, Officer, Director , Principal Shareholder
Cynthia B Robinson, Officer, Director, Principal Shareholder
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 six months ended January 31, 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 March 20, 2000 /s/ Clyde Smyth
----------------------------
Clyde Smyth, Chairman, and
Chief Executive Officer
Dated March 20, 2000 /s/ Margareta Totems
----------------------------
Margareta Totems
Chief Financial Officer
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 5
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL
FORMATION EXTRACTED FROM INTERIM BALANCE SHEET 01/31/2000
AND INTERIM INCOME STATEMENT 01/31/2000 AND IS QUALIFIED IN
ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS
FINANCIAL DATA SCHEDULE
<C> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JULY-31-2000
<PERIOD-START> AUGUST-01-1999
<PERIOD-END> JAN-31-2000
<CASH> 9.000
<SECURITIES> 0
<RECEIVABLES> 39.734
<ALLOWANCES> 0
<INVENTORY> 105.757
<CURRENT-ASSETS> 154.757
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 584.061
<CURRENT-LIABILITIES> 83.943
<BONDS> 0
0
0
<COMMON> 5.000
<OTHER-SE> 0
<TOTAL-LIABILITY-AND-EQUITY> 584.061
<SALES> 172.766
<TOTAL-REVENUES> 172.766
<CGS> 0
<TOTAL-COSTS> 71.661
<OTHER-EXPENSE> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 0
<INCOME-TAX> 0
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 19.905
<EPS-BASIC> 0
<EPS-DILUTED> 0
</TABLE>
