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Previous: ANC RENTAL CORP, 4, 2000-09-07 |
Next: SPACE LAUNCHES FINANCING INC, 10QSB, EX-27, 2000-09-07 |
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 quarterly period ended June 30, 2000
[ ] 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 0-27873
CIK Number 0001098009
SPACE LAUNCHES FINANCING, INC.
(Exact Name of small business issuer as specified in its charter)
Nevada 98-0178621
(State or other Jurisdiction of I.R.S. Employer Identi-
Incorporation or Organization fication
No.)
56 Quai Gustave Ador, Geneva, Switzerland CH-1206
(Address of Principal Executive Offices) (Zip Code)
(949) 489-2400
(Issuer's Telephone Number, including Area Code)
Indicate by check mark whether the Registrant (i) has filed all reports
required to be filed by Section 13, or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (of for such shorter period that the
Registrant was required to file such reports) and (ii) 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.
Common Stock, $.001 par value 6,017,471
---------------------------------- ------------
Title of Class Number of Shares outstanding
at June 30, 2000
Transitional Small Business Format Yes No X
No exhibits included.
1
<PAGE>
<TABLE>
<CAPTION>
SPACE LAUNCHES FINANCING, INC.
(A Company in the Development Stage)
BALANCE SHEETS
ASSETS
Dec. 31, June 30,
1999 2000
<S> <C> <C>
Current Assets - Cash 107,420 110,156
TOTAL ASSETS $ 107,420 $ 110,156
LIABILITIES AND STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY
Common Stock, $.00001 par value; 100,000,000 shares
authorized; 6,017,471 shares issued and outstanding 61 61
Additional paid-in capital 141,559 141,559
Accumulated deficit during the development stage (34,201) (31,464)
TOTAL STOCKHOLDERS' EQUITY 107,420 110,156
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 107,420 $ 110,156
</TABLE>
The accompanying notes are an integral part of
the financial statements.
2
<PAGE>
<TABLE>
<CAPTION>
SPACE LAUNCHES FINANCING, INC.
(A Company in the Development Stage)
STATEMENTS OF OPERATIONS
CUMULATIVE
FOR THE SIX FOR THE THREE FROM INCEPTION
MONTHS ENDED MONTHS ENDED (Feb. 11, 1997)
June 30, June 30, TO
2000 1999 2000 1999 June 30, 2000
<S> <C> <C> <C> <C> <C>
REVENUES - Interest $ 3,077 $ 2,200 $ 1,605 $ 1,178 $ 8,393
OPERATING EXPENSES
General
and Administrative 341 241 39,857
TOTAL OPERATING EXPENSES 341 241 39,857
NET INCOME (LOSS) 2,736 2,200 1,364 $ 1,178 $ (31,464)
NET INCOME (LOSS)
PER SHARE $ Nil $ Nil $ $ Nil $ Nil
WEIGHTED AVERAGE NUMBER
OF SHARES OUTSTANDING 6,017,471 6,017,471 6,017,471 6,017,471
</TABLE>
See accompanying Notes to Financial Statements.
3
<PAGE>
<TABLE>
<CAPTION>
SPACE LAUNCHES FIANCING, INC.
(A Company in the Development Stage)
STATEMENTS OF CASH FLOWS
CUMULATIVE
FOR THE SIX FOR THE THREE FROM INCEPTION
MONTHS ENDED MONTHS ENDED (Feb. 11, 1997)
June 30, June 30, TO
2000 1999 2000 1999 June 30, 2000
CASH FLOWS FROM OPERATING
ACTIVITIES
<S> <C> <C> <C> <C> <C>
Net Income (Loss) $ 2,736 $ 2,200 $ 1,364 $ 1,178 $ (31,464)
Net cash flows from operating
activities 2,736 2,200 1,364 1,178 (31,464)
CASH FLOWS FROM INVESTING ACTIVITIES
CASH FLOWS FROM FINANCING
ACTIVITIES
Sale of Common Stock 141,621
Net Cash flows from financing
activities 141,621
NET INCREASE (DECREASE)
IN CASH 2,736 2,200 1,364 1,178 110,156
CASH BALANCE AT BEGINNING
OF PERIOD 107,420 103,528 109,292 104,550 0
CASH BALANCE AT END OF
PERIOD 110,156 105,728 $ 110,656 $ 105,728 $ 110,156
</TABLE>
See accompanying Notes to Financial Statements.
4
<PAGE>
SPACE LAUNCHES FINANCING, INC.
(A Company in the Development Stage)
NOTES TO CONDENSED FINANCIAL STATEMENTS
(UNAUDITED)
June 30, 2000
1. Comments
The accompanying financial statements are unaudited, but in the opinion
of the management of the Company, contain all adjustments, consisting
of only normal recurring accruals, necessary to present fairly the
financial position at June 30, 2000, the results of operations for the
three months ended June 30, 2000 and 1999, and the cash flows for the
three months ended June 30, 2000 and 1999.
Reference is made to the Company's Form 10-KSB for the year ended
December 31, 1999. The results of operations for the nine and three
months ended June 30, 2000 are not necessarily indicative of the
results of operations to be expected for the full fiscal year ending
December 31, 2000.
Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND
FINANCIAL CONDITION
The Company has limited working capital and activities.
PART II. OTHER INFORMATION
Item 1. LEGAL PROCEEDINGS - None
Item 2. CHANGES IN SECURITIES - None
---------------------
Item 3. DEFAULTS UPON SENIOR SECURITIES - None
-------------------------------
Item 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS - None
---------------------------------------------------
Item 5. OTHER INFORMATION - None
Item 6. EXHIBITS AND REPORTS ON FORM 8-K
Exhibits--None
Reports on Form 8-K--None.
5
<PAGE>
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.
SPACE LAUNCHES FINANCING, INC.
Date: August 15, 2000 By:/s/ Maurice Tolub
-----------------
Maurice Tolub,
President and Chief Financial
Officer (chief financial officer
and accounting officer and duly
authorized officer)
6
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