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
February 29, 2000
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR
15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from
to
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 ofeach of the issuer's classes of
common equity, as of the latest practicable date.
Class Outstanding at February 29, 2000
Common Stock, par value $0.0001 5,000,000
<PAGE>
TALGER MANAGEMENT, INC.
(A Development Stage Company)
Financial Statements
(unaudited)
February 29, 2000
<PAGE>
TALGER MANAGEMENT, INC.
(A Development Stage Company)
Balance Sheet
February 29, 2000
(unaudited)
Assets
------
Cash $ 439
----------
Total Assets $ 439
==========
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 (3,349)
----------
Total Stockholder's Equity (Deficit) (2,849)
----------
Total Liabilities and Stockholder's Equity (Deficit) $ 439
==========
See accompanying notes to financial statements
<PAGE>
TALGER MANAGEMENT, INC.
(A Development Stage Company)
Statement of Operations
(unaudited)
July 16, 1999 (inception) Three months ended
to February 29, 2000 February 29, 2000
Income $ -- $ --
Expenses
Bank charges 61 17
Organizational expenses 239 --
Professional fees 3,049 --
---------- ----------
Net Loss for the period $ (3,349) $ (17)
========== ==========
See accompanying notes to financial statements
<PAGE>
TALGER MANAGEMENT, INC.
(A Development Stage Company)
Statement of Changes in Stockholder's Equity for the Period
July 16, 1999 (inception) to February 29, 2000
(unaudited)
Accumulated
Deficit
During
Development
Common Stock Stage Total
------------ ----- -----
Common stock issuance $ 500 $ -- $ 500
Net loss for the period July 16,
1999 to November 30, 1999 -- (3,349) (3,349)
---------- ---------- ----------
$ 500 $ (3,349) $ (2,849)
========== ========== ==========
See accompanying notes to financial statements
<PAGE>
TALGER MANAGEMENT, INC.
(A Development Stage Company)
Statement of Cash Flows
(unaudited)
July 16, 1999 Three months
(inception) to ended February
February 29, 2000 29, 2000
Cash flows from operating activities
Net loss $ (3,349) $ (17)
Adjustments to reconcile net loss to
net cash used by operating activities:
Increase in accounts payable 2,249 --
Due to related parties 1,039 --
---------- ----------
Net cash (used) in operating activities (61) (17)
---------- ----------
Cash flows from investing activities -- --
---------- ----------
Cash flows from financing activities
Proceeds from issuance of common stock 500 --
---------- ----------
Net cash provided by financing activities 500 --
---------- ----------
Increase (decrease) in cash and cash equivalents 439 (17)
Cash, beginning of period -- 456
---------- ----------
Cash, end of period $ 439 $ 439
========== ==========
See accompanying notes to financial statements
<PAGE>
TALGER MANAGEMENT, INC.
(A Development Stage Company)
Notes to Financial Statements
February 29, 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 February 29, 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.
