SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB
(Mark One)
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended
May 31, 2000
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR
15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from
Commission file number 0-27731
TALGER MANAGEMENT INC
(Exact name of registrant as specified in its charter)
Delaware 980212039
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
8148 153A Street, Surrey, B.C. V3S 7X8
(Address of principal executive offices (zip code))
604/599-4607
(Registrant's telephone number, including area code)
Indicate by check mark whether the registrant (1) filed all reports required to
be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the last 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 [ ]
Indicate the number of shares outstanding of each of the issuer's classes of
common equity, as of the latest practicable date.
Class Outstanding at May 31, 2000
Common Stock, par value $0.0001 5,000,000
<PAGE>
TALGER MANAGEMENT, INC.
(A Development Stage Company)
Financial Statements
(unaudited)
May 31, 2000
<PAGE>
TALGER MANAGEMENT, INC.
(A Development Stage Company)
Balance Sheet
May 31, 2000
(unaudited)
Assets
------
Cash $ 422
----------
Total Assets $ 422
==========
Liabilities and Stockholder's Equity (Deficit)
----------------------------------------------
Liabilities
Accounts payable $ 2,249
Due to related party 1,039
----------
Total liabilities 3,288
----------
Stockholder's Equity (Deficit)
Common stock, $.0001 par value, 100,000,000 shares
authorized, 5,000,000 shares issued and outstanding 500
Accumulated deficit during development stage (3,366)
----------
Total Stockholder's Equity (Deficit) (2,866)
----------
Total Liabilities and Stockholder's Equity (Deficit) $ 422
==========
See accompanying notes to financial statements
<PAGE>
TALGER MANAGEMENT, INC.
(A Development Stage Company)
Statement of Operations
(unaudited)
Three months ended Three months ended
February 29, 2000 May 31, 2000
---------- ----------
Income $ -- $ --
Expenses
Bank charges 17 17
Organizational expenses -- --
Professional fees -- --
---------- ----------
Net Loss for the period $ (17) $ (17)
========== ==========
See accompanying notes to financial statements
<PAGE>
TALGER MANAGEMENT, INC.
(A Development Stage Company)
Statementof Changes in Stockholder's Equity for the Period July 16,
1999 (inception) to May 31, 2000
(unaudited)
<TABLE>
<CAPTION>
Accumulated
Deficit During
Common Stock Development Stage Total
------------ ----------------- -----
<S> <C> <C> <C>
Common stock issuance $ 500 $ -- $ 500
Net loss for the period July 16,
1999 to November 30, 1999
(3,366) (3,366)
---------- ---------- ----------
$ 500 $ (3,366) $ (2,866)
========== ========== ==========
</TABLE>
See accompanying notes to financial statements
<PAGE>
TALGER MANAGEMENT, INC.
(A Development Stage Company)
Statement of Cash Flows
(unaudited)
<TABLE>
<CAPTION>
Three months Three months
ended February ended May
29, 2000 31, 2000
-------- --------
Cash flows from operating activities
<S> <C> <C>
Net loss $ (17) $ (17)
Adjustments to reconcile net loss to net
cash used by operating activities:
Increase in accounts payable -- --
Due to related parties -- --
---------- ----------
Net cash (used) in operating activities (17) (17)
---------- ----------
Cash flows from investing activities -- --
---------- ----------
Cash flows from financing activities
Proceeds from issuance of common stock -- --
---------- ----------
Net cash provided by financing activities -- --
---------- ----------
Increase (decrease) in cash and cash equivalents (17) (17)
Cash, beginning of period 456 439
---------- ----------
Cash, end of period $ 439 $ 422
========== ==========
</TABLE>
See accompanying notes to financial statements
<PAGE>
TALGER MANAGEMENT, INC.
(A Development Stage Company)
Notes to Financial Statements
May 31, 2000
(unaudited)
Note 1 - Summary of significant accounting policies
Organization and Business Operations
------------------------------------
Talger Management, Inc. (a development stage company) ("the Company") was
incorporated in Delaware on July 16, 1999 to serve as a vehicle to effect a
merger, exchange of capital stock, asset acquisition or other business
combination with a domestic or foreign private business. At May 31, 2000, the
Company had not yet commenced any formal business operations, and all activity
to date relates to the Company's formation and proposed fund raising.
The Company's ability to commence operations is contingent upon its ability to
identify a prospective target business and raise the capital it will require
through the issuance of equity securities, debt securities, bank borrowings or a
combination thereof.
Use of Estimates
----------------
The preparation of the financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenue and expenses during the reporting
period. Actual results could differ from those estimates.
Cash
----
For purposes of the statement of cash flows, the Company considers all highly
liquid investments purchased with an original maturity of three months or less
to be cash equivalents.
Note 2 - Stockholder's Equity
Common Stock
------------
The Company is authorized to issue 100,000,000 shares of common stock at $.0001
par value. The Company issued 5,000,000 shares to 517093 B.C. LTD., which is
owned by a director of the Company.
