<PAGE>
U.S. Securities and Exchange Commission
Washington D.C. 20549
Form 10-QSB
[X] Quarterly Report Pursuant to Section 13 or
15(d) of the Securities Exchange Act of 1934.
For the Quarter Ended March 31, 2000
OR
[ ] Transition Report Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Commission file number: 000-27867
Dendo Global Corporation
(name of small business issuer as specified in its charter)
Nevada 87-0533626
(State of other jurisdiction of (I.R.S. employer
incorporation or organization) identification No.)
227 South Ninth Avenue
Pocatello, Idaho 83201
(Address of principal executive offices)
Registrant's telephone no., including area code: (208) 233-8001
N/A
Former name, former address, and former
fiscal year, if changed since last report.
Securities registered pursuant to Section 12(b) of the Exchange Act: None
Securities registered pursuant to Section 12(g) of the Exchange Act: None
Check whether the Issuer (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the preceding 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___.
Common Stock outstanding at May 15, 2000 - 2,775,000 shares of $.001 par
value Common Stock.
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PART I - FINANCIAL INFORMATION
Item 1 Financial Statements
The Financial Statements of the Registrant required to be filed
with this 10-QSB Quarterly Report were prepared by management together with
Related Notes. In the opinion of management, the Financial Statements fairly
present the financial condition of the Registrant.
Dendo Global Corp.
[Development Stage Company]
CONDENSED BALANCE SHEETS
[Unaudited]
<TABLE>
ASSETS
March 31, 2000 Dec. 31, 1999
<S> <C> <C>
CURRENT ASSETS:
Cash $ 11,092 $ 11,630
Total Current Assets 11,092 11,630
TOTAL ASSETS $ 11,092 $ 11,630
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
March 31, 2000 Dec. 31,1999
CURRENT LIABILITIES:
Accounts payable $ 1,650 $ 0
Total Current Liabilities 1,650 0
STOCKHOLDERS' EQUITY (DEFICIT):
Common stock; authorized 50,000,000
shares at $0.001 par value; 2,775 2,775
$0.001 par value; 2,775,000
shares issued and outstanding
Additional paid-in Capital 70,398 70,398
Deficit accumulated during the
development stage ( 63,731) ( 61,543)
Total Stockholders' Equity 9,442 11,630
TOTAL LIABILITIES & EQUITY $ 11,092 $ 11,630
</TABLE>
The accompanying notes are an integral part of these financial statements.
NOTE: The balance sheet at December 31, 1999 was taken from the audited
financial statements at that date and condensed.
<PAGE>
Dendo Global Corp.
[Development Stage Companies]
CONDENSED STATEMENTS OF OPERATIONS
[Unaudited]
<TABLE>
For the Three From Inception
Months Ended On March 28, 1988
March 31, Through March 31,
2000 1999 2000
<S> <C> <C> <C>
REVENUE $ 0 $ 0 $ 0
Total Revenue $ 0 $ 0 $ 0
OPERATING EXPENSES
General and Administrative Expenses $2,215 $ 2,223 $ 19,018
Total Expenses $2,215 $ 2,223 $ 19,018
LOSS FROM OPERATION ($2,215) ($ 2,223) $ ($19,018)
OTHER INCOME
Interest Income $ 27 $ 22 $ 328
Total Other Income $ 27 $ 22 $ 328
INCOME TAXES CURRENT 0 0 $ 0
LOSS FROM CONTINUING OPERATIONS ($2,188) ($2,201) $ (18,690)
DISCONTINUED OPERATIONS: 0 0 $ (44,975)
NET LOSS ($2,188) ($2,201) $ (63,731)
NET LOSS PER SHARE (.00) (.00) (.00)
</TABLE>
The accompanying notes are an integral part of these financial statements.
Dendo Global Corp.
[Development Stage Company]
STATEMENTS OF CASH FLOWS
[Unaudited]
<TABLE>
For the Three From Inception
Months Ended On March 28, 1998
March 31, Through March 31,
2000 1999 2000
<S> <C> <C> <C>
Cash Flows to Operating Activities:
Net income (loss) $(2,188) $(2,201) $(63,731)
Adjustments to reconcile net
income to net cash used by
Operating activities:
Amortization and depreciation 10,339
Non-cash expense 8,545
Changes in assets and liabilities
Other current assets
Accounts payable $ 1,650 $ 0 2,188
Net Cash Flows to
Operating Activities $ ( 538) (2,201) (42,659)
Cash Flows to Investing Activities:
Organization costs - (330)
Purchase of equipment - (6,023)
Payment of software development - (12,531)
Net Cash (Used) by Investing
Activities $ 0 (18,884)
Cash Flows from (to) Financing
Activities:
Proceeds from common stock
issuance - - 77,500
Costs of issuing stock - - (4,327)
Proceeds from capital lease - - 8,500
Payments on capital lease - - (8,500)
Net cash Flows from(to)
Financing Activities $ 0 0 $ 73,173
Net Increase (Decrease) in Cash ( 538) ($2,201) 11,630
Cash at Beginning of Period $ 11,630 $29,943 $ -
Cash at End of Period $ 11,092 $27,742 $ 11,630
</TABLE>
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Dendo Global Corp.
[A Development Stage Company]
NOTES TO UNAUDITED CONDENSED & CONSOLIDATED FINANCIAL STATEMENTS
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Condensed Financial Statements - The accompanying financial statements have
been prepared by the Company without audit. In the opinion of management,
all adjustments (which include only normal recurring adjustments) necessary to
present fairly the financial position, results of operations and cash flows at
March 31, 2000 and 1999, and for all periods presented have been made.
Certain information and footnote disclosures normally included in financial
statements prepared in accordance with generally accepted accounting principles
have been condensed or omitted. It is suggested that these condensed financial
statements be read in conjunction with the financial statements and notes there-
to included in the Company's December 31, 1999, audited financial statements.
The results of operations for the period ended March 31, 2000 and 1999, are not
necessarily indicative of the operation results for the full year.
NOTE 2 - Going Concern
The accompanying financial statements of Capital Growth, Inc., have been
prepared on a going-concern basis, which contemplates profitable operations and
the satisfaction of liabilities in the normal course of business. There are
uncertainties that raise substantial doubt about the ability of the Company to
continue as a going concern. As shown in the statement of operations, the Com-
pany has had no revenues from operations and has a stockholders' equity of$9,442
as of March 31, 2000.
The Company's continuation as a going concern is dependent upon its ability
to satisfactorily meet its debt obligations, secure adequate new financing and
generate sufficient cash flows from operations to meet it obligations. The fin-
ancial statements do not include any adjustments that might result from the out-
come of these uncertainties.
NOTE 3 - Income Taxes
The Company has net operating loss carryforwards of approximately $61,500
which begin to expire in the year 2019. The amount of net operating loss
carryforward that can be used in any one year will be limited by significant
changes in the ownership of the company and by the applicable tax laws which are
in effect at the time such carryforwards can be utilized.
NOTE 4 -Common Stock
Change in Control - During August 1998, an individual purchased 2,500,000
shares of common stock of the Company giving him 90% controlling interest in the
Company. Total proceeds from the sale of stock amounted to $25,000 (or $.01 per
share). The former officer and director resigned and the individual was elected
as the new president and board member.
Preferred Stock - The Company has authorized 5,000,000 shares of preferred
stock, $.001 par value with such rights, preferences and designations and to be
issued in such series as determined by the Board of Directors. No shares are
issued or outstanding at March 31, 2000.
NOTE 5 - Related Party Transactions
Rent - The Company has not had a need to rent office space. An officer of
the Company is allowing the Company to use his office as a mailing address, as
needed, at no expense to the Company.
Management Compensation - The Company had previously agreed to pay its
former president 35% of sales as partial compensation or in lieu of regular com-
pensation for services to be rendered ($700 minimum per month). Management re-
served the right to change this arrangement at any time. During 1999, the Com-
pany transferred the remaining net assets of the Company, valued at $8,545 to
the former president in payment of compensation owed to him.
No compensation has been paid to the Company's current officers and di-
rectors as the services provided by them to date have only been nominal.
NOTE 6 - Supplemental Cash Flow Information
The Company paid no interest during the period ending March 31, 2000. No
income taxes were paid during the periods ended March 31, 2000 and 1999, and
since inception.
NOTE 7 - Subsequent Event
None.
<PAGE>
ITEM 2.
Management's Discussion and Analysis of Financial Condition
And Results of Operations
Plan of Operation
Dendo has not engaged in any material operations or had any revenues from
operations during the last two fiscal years. Dendo's plan of operation for the
next 9 months is to formulate a business plan detailing the industries or field
in which the Company desires to concentrate its efforts. Dendo has virtually
resources, and management anticipates that to achieve any such acquisition,
Dendo will be required to issue shares of its common stock as the sole consid-
eration for such venture.
During the next 12 months, Dendo's only foreseeable cash requirements will
relate to maintaining Dendo in good standing or the payment of expenses associ-
ated with reviewing or investigating any potential business venture; current
cash assets are believed to be sufficient for this purpose during the next 12
months.
Liquidity and Capital Resources
During the period ended March 31, 2000, cash in the bank was $11,092, com-
pared to $27,742 for the period ended March 31, 1999, with liabilities of $1,650
and $0 respectively. $25,000 was provided by subscriptions for the purchase of
2,500,000 shares of Dendo's common stock at a price of $0.01 per share during
1998.
Results of Operations
Three-month period ended March 31, 2000 and March 31, 1999.
Dendo has had no material operations for over five years. It incurred los-
ses of ($2,188), for the period ended March 31, 2000; and ($2,201) for the
Period ended March 31, 1999, from discontinued operations.
There were no revenues during the periods ended March 31, 2000 and 1999.
General and administrative expenses were $2,188 during March 31, 2000, and
$2,201 during the period ended March 31, 1999. These expenses are primarily
legal and accounting costs.
PART II - OTHER INFORMATION
ITEM I Legal Proceedings
None.
ITEM 2 Change in Securities
None.
ITEM 3 Defaults on Senior Securities
None.
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ITEM 4 Submission on Matters to a Vote of Security Holders
None.
ITEM 5 Other Information
None.
ITEM 6 Exhibits and Reports on Form 8-K
(A) Exhibits
None.
(B) Reports on Form 8-K;
None.
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, hereunto duly authorized.
Dendo Global Corp.
Date: 05/15/00 By /s/ Cornelius Hofman
Cornelius Hofman
President and Chief Executive Officer
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 5
<CIK> 0001097945
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-2000
<PERIOD-END> MAR-31-2000
<CASH> 11,092
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 11,092
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 11,092
<CURRENT-LIABILITIES> 1,650
<BONDS> 0
0
0
<COMMON> 2,775
<OTHER-SE> 6,667
<TOTAL-LIABILITY-AND-EQUITY> 11,092
<SALES> 0
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 2,215
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> (27)
<INCOME-PRETAX> 0
<INCOME-TAX> (2,188)
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (2,188)
<EPS-BASIC> .00
<EPS-DILUTED> .00
</TABLE>
