U.S. SECURITIES AND EXCHANGE COMMISSION
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Washington, D.C. 20549
FORM 10-QSB
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(Mark One)
[X] QUARTERLY REPORT UNDER 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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[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF
THE EXCHANGE ACT
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For the transition period from to
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Commission File No. #0-15303
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TCT FINANCIAL GROUP A, INC.
(Exact name of registrant as specified in its charter)
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Nevada
(State or other jurisdiction of incorporation or
organization)
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88-0431561
(IRS Employer Identification Number)
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5424 Comchec Way, Unit 105, Las Vegas, Nevada 89108
(Address of principal executive offices ) (Zip Code)
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(702) 631-8751
(Registrant's telephone no., including area code)
(Issuer's Telephone Number, Including Area Code)
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Check whether the issuer: (1) filed all reports required
to be filed by Section 13 or 15(d) of the Exchange Act
during the past 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.
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Yes No X
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State the number of shares outstanding of each of the
issuer's classes of common equity, as of the latest
practicable date: As of May 24,2000 the Company had
7,937,614 shares of Common Stock outstanding, $0.0001 par
value.
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TCT FINANCIAL GROUP A, INC.
Form 10-QSB Quarterly Report
For the Period Ended March 31, 2000
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Page
Part I - FINANCIAL INFORMATION
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Item 1. Financial Statements 3
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Reviewed Balance Sheet at March 31, 2000
for TCT Financial Group A, Inc. 5
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Reviewed Statement of Operations for the Three Months
ended March 31, 2000 for TCT Financial Group A, Inc 6
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Reviewed Statement of Cash Flows for the Three Months
ended at March 31, 2000 for TCT Financial Group A, Inc. 7
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Notes to Financial Statements 10
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Item 2. Management's Discussion and Analysis of Financial
Conditions and Results of Operations 15
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PART II - OTHER INFORMATION 16
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Item 1. Legal Proceedings 16
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Item 2. Changes in Securities 16
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Item 3. Defaults Upon Senior Securities 16
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Item 4. Submission of Matters to a Vote of Security Holders 16
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Item 5. Other Information 16
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Signatures 16
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PART I - FINANCIAL INFORMATION
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Item 1. Financial Statements
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BASIS OF PRESENTATION
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The accompanying reviewed financial statements are
presented in accordance with generally accepted
accounting principles for interim financial information
and the instructions to Form 10-QSB and item 310 under
subpart A of Regulation S-B. Accordingly, they do not
include all of the information and footnotes required by
generally accepted accounting principles for complete
financial statements. The accompanying statements should
be read in conjunction with the audited financial
statements for the year ended December 31, 1999. In the
opinion of management, all adjustments (consisting only
of normal occurring accruals) considered
necessary in order to make the financial statements not
misleading, have been included. Operating results for
the three months ended March 31, 2000 are not
necessarily indicative of results that may be expected
for the year ending December 31, 2000. The financial
statements are presented on the accrual basis.
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TCT FINANCIAL GROUP A, INC.
(A DEVELOPMENT STAGE COMPANY)
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TABLE OF CONTENTS
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Report of Independent Public Accountants 1
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Balance Sheet 2
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Statement of Operations Three Months Ended
March 31, 2000 3
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Statement of Cash Flows - Three Months Ended
March 31, 2000 4
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Statement of Stockholder's Equity
March 31, 2000 4
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Notes to Financial Statements 5
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REPORT OF INDEPENDENT PUBLIC ACCOUNTS
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We have reviewed the accompanying balance sheet,
statements of operations, and cash flows of TCT FINANCIAL
GROUP A, INC. (the "Company") as of March 31, 2000, and
for the three-month period then ended. These financial
statements are the responsibility of the company's
management.
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We conducted our review in accordance with standards
established by the American Institute of Certified Public
Accountants. A review of interim financial information
consists principally of applying analytical procedures to
financial data and making inquiries of persons
responsible for financial and accounting matters. It is
substantially less in scope than an audit conducted 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, we do not express such an opinion.
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Based on our review, we are not aware of any material
modifications that should be made to the accompanying
financial statements for them to be in conformity with
generally accepted accounting principles.
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The accompanying financial statements have been prepared
assuming that the Company will continue as a going
concern. The Company has not yet demonstrated the
ability to generate revenues, and these financial
statements do not include any adjustments that might
result from the outcome of this uncertainty.
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/s/ Jay J. Shapiro, C.P.A.
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Jay J. Shapiro, C.P.A.
A professional corporation
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Encino, California
May 18, 2000
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TCT FINANCIAL GROUP A, INC.
A development stage company
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BALANCE SHEET
March 31, 2000
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ASSETS:
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Cash $ 0
Organization costs-net 4,400
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Total Assets 4,400
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LIABILITIES AND EQUITY:
Liabilities:
Account payable 1,000
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Total Liabilities 1,000
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Equity
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25,000,000 shares of $.001 par value
common stock authorized;
7,937,614 shares issued and outstanding 7,938
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Additional Paid-In-Capital 62
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Accumulated deficit (4,600)
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Total Equity 3,400
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Total Liabilities and Equity $ 4,400
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The accompanying notes are an integral part of these
financial statements.
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TCT FINANCIAL GROUP A, INC.
A development stage company
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STATEMENT OF OPERATIONS
Three Months Ended March 31, 2000
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Revenue $ 0
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Amortization Expense $ 300
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Net Loss $ (300)
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The accompanying notes are an integral part of these
financial statements.
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TCT FINANCIAL GROUP A, INC.
A development stage company
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STATEMENT OF CASH FLOWS
Three Months Ended March 31, 2000
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Net Loss $ (300)
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Add Back:
Amortization 300
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Net funds used by operations 0
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Increase in cash 0
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Cash - Inception 0
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Cash - March 31, 2000 $ 0
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The accompanying notes are an integral part of these
financial statements.
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TCT FINANCIAL GROUP A, INC.
A development stage Company
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STATEMENT OF STOCKHOLDERS' EQUITY
March 31, 2000
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<S> <C> <C> <C> <C>
Deficit
Accumulated
Common Stock Additional During
Number Paid In Development
of shares Amount Capital Stage
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August 1999
Issued for cash to
founders 7,937,614 $7,938 $62
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Net (loss), 06-11-99
(inception) to 12/31/99 - - - $(4,300)
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Balance
December 31, 1999 7,937,614 $7,938 $62 $(4,300)
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Net (loss), three months
ended March 31, 2000 - - - (300)
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Balance
March 31, 2000 7,937,614 $7,938 $62 $(4,600)
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The accompanying notes are an integral part of
these financial statements.
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TCT FINANCIAL GROUP A, INC.
A development stage company
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NOTES TO FINANCIAL STATEMENTS
March 31, 2000
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1. Organization and Management Plans:
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TCT FINANCIAL GROUP A, INC. (the "Company") was
incorporated in Nevada on June 11, 1999. The Company
sold 7.9 million shares of common stock to an officer and
director for $8,000 cash. The Company has not engaged in
any business activities as of March 31, 2000. No
anticipated revenues have commenced as of this date.
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2. Organization Costs:
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These costs of $5,000 are being amortized on a straight-
line basis over sixty- month period.
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3. Other Significant Policies:
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a) Management makes estimates and assumptions that
affect certain reported amounts and disclosures during
the preparation of financial statements in conformity
with generally accepted accounting principles.
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b) For purposes of the Statement of Cash Flows, the
Company considers all highly liquid investments purchased
with a maturity of 3 months or less to be cash
equivalents.
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c) The Company does not have any items considered to be
Other Comprehensive Income as defined by SFAS #130 during
the reporting period.
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d) There are no differences between financial reporting
and Federal tax reporting. The Company has a net
operating loss of $4,600.
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Item 6. Management's Discussion and Analysis Plan of
Operation
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Certain matters discussed herein (including the documents
incorporated herein by reference) are forward-looking
statements intended to qualify for the safe harbors from
liabilities established by the Private Litigation Reform
Act of 1995. These forward-looking statements can
generally be identified as such because the context of
the statement will include words such as the Company
"believes," "plans," "intends," "anticipates," "expects,"
or words of similar import. Similarly, statements that
describe the Company's future plans, objectives,
estimates, or goals are also forward-looking statements.
Such statements address future events and conditions
concerning capital expenditures, earnings, litigation,
liquidity and capital resources and accounting matters.
Actual results in each case could differ materially from
those currently anticipated in such statements by reason
of factors such as future economic conditions, including
changes in customer demands; future legislative,
regulatory and competitive developments in markets in
which the Company operates; and other circumstances
affecting anticipated revenues and costs.
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There are no limitations on the percentage of assets
which may be invested in any one investment, or type of
investment. It is issuer's policy to acquire assets
primarily for possible capital gain.
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PART II - OTHER INFORMATION
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Item 1. Legal Proceedings. Not applicable
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Item 2. Changes in Securities. None
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Item 3. Defaults Upon Senior Securities. Not Applicable
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Item 4. Submission of Matters to a Vote of Security
Holders. None.
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Item 5. Other Information. None
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Item 6. Exhibits and Reports of Form 8-K. None
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Exhibit 27 - Financial Date Schedule -
Electronic Filing Only
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SIGNATURES
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Pursuant to the requirements of section 13 or 15(d) of
the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed in its behalf by the
undersigned, thereunto duly authorized, on May 31, 2000.
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TCT FINANCIAL GROUP A, INC.
(Registrant)
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Date: May 31, 2000
By: /s/ Lloyd Eisenhower
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Lloyd Eisenhower,
Treasurer, Chief
Financial Officer and
Director
