SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB
Quarterly Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
For the quarterly period ended: November 30, 1999
Commission File number: 0-28519
INVESTRA ENTERPRISES, INC.
(Exact name of registrant as specified in its charter)
FLORIDA 91-1997143
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State or Other Jurisdiction (I.R.S. Employer
of incorporation or organization) Identification Number)
465 OCEAN DRIVE, #224, MIAMI BEACH, FL 33139
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(Address of principal executive offices) (Zip Code)
Issuer's telephone number: 303-440-5356
Indicate by check mark whether the registrant (1) 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 (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to the filing
requirements for at least the past 90 days.
YES NO X
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As of November 30, 1999, there were 672,000 shares of no par value common stock
outstanding
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<CAPTION>
PART 1. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
INVESTRA ENTERPRISES, INC.
(A Development Stage Company)
UNAUDITED BALANCE SHEETS
<S> <C> <C>
ASSETS
November 30, August 31,
1999 1999
----------------------- -------------------
CURRENT ASSETS, Cash $6,008 $221
======================= ===================
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
CURRENT LIABILITIES
Accrued interest, related party $75 -
Notes payable, related party 7,500 -
Total Current Liabilities 7,575 -
----------------------- -------------------
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY (DEFICIT):
Common stock, no par value 1,000,000 shares 300 300
authorized, 672,000 shares issued and outstanding
(Deficit) accumulated during the development stage (1,867) (79)
----------------------- -------------------
Total Stockholders' Equity (Deficit) (1,567) 221
----------------------- -------------------
$6,008 $221
======================= ===================
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
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<CAPTION>
INVESTRA ENTERPRISES, INC.
(A Development Stage Company)
UNAUDITED STATEMENTS OF OPERATIONS
<S> <C> <C>
For the Three Cumulative from
Months Ended March 4, 1999
November 30, (Inception) to
1999 November 30,
1999
----------------------- ----------------------
REVENUE
Interest income $37 $37
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EXPENSES:
General and administrative 1,750 1,829
Interest expense, related party 75 75
Total Expenses 1,825 1,904
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NET (LOSS) $(1,788) $(1,867)
======================= ======================
NET (LOSS) PER COMMON SHARE - BASIC $*
=======================
WEIGHTED AVERAGE NUMBER OF 672,000
COMMON SHARES OUTSTANDING
=======================
* Less than $(.01)
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
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<CAPTION>
INVESTRA ENTERPRISES, INC.
(A Development Stage Company)
UNAUDITED STATEMENTS OF CASH FLOWS
<S> <C> <C>
For the Three Cumulative from
Months Ended March 4, 1999
November 30, (inception) to
1999 November 30,
1999
-------------------- ----------------------
CASH FLOWS FROM (TO) OPERATING
ACTIVITIES:
Net (loss) from operations $(1,788) $(1,867)
Adjustments to reconcile net (loss) to net cash (used)
by operating activities:
Changes in:
Accrued interest, related party 75 75
-------------------- ----------------------
Net Cash (Used) by Operating Activities (1,713) (1,792)
-------------------- ----------------------
CASH FLOWS FROM (TO) FINANCING
ACTIVITIES:
Common stock issued for cash - 300
Proceeds from loan payable 7,500 7,500
Net Cash provided by Financing Activities 7,500 7,800
-------------------- ----------------------
NET INCREASE IN CASH 5,787 6,008
CASH, beginning of period 221 -
CASH, end of period $6,008 $6,008
==================== ======================
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
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INVESTRA ENTERPRISES, INC.
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
NOTE 1 - BASIS OF PRESENTATION
The accompanying unaudited financial statements include the accounts of Investra
Enterprises, Inc. (the "Company"). The financial statements have been prepared
in accordance with generally accepted accounting principles for interim
financial information. Accordingly, they do not include all of the information
and footnotes required by generally accepted accounting principles.
In the opinion of management, the unaudited interim financial statements for the
period ended November 30, 1999 are presented on a basis consistent with the
audited financial statements and reflect all adjustments, consisting only of
normal recurring accruals, necessary for fair presentation of the results of
such period.
The results for the three months ended November 30, 1999 are not necessarily
indicative of the results of operations for the full year. These financial
statements and related footnotes should be read in conjunction with the
financial statements and footnotes thereto included in the Company's financial
statements of the period ended August 31, 1999.
NOTE 2 - RELATED PARTY TRANSACTIONS
On October 5, 1999, the Company received loans, in the form of notes payable,
from stockholders in the amount of $7,500. The notes payable are due upon
demand, with interest accruing at 6%.
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ITEM 2.
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
RESULTS OF OPERATIONS FOR THE THREE MONTH PERIOD ENDED NOVEMBER 30, 1999
COMPARED TO THE SAME PERIOD IN 1998.
No operations were conducted by the Company in the quarter period ended
November 30, 1999, and no revenues were achieved except interest income of $37.
The operations expenses in the three month period in 1998 were $0 and for the
same period in 1999 were $1,750. The gross profit (loss) for the 1998 third
quarter period was $0 compared to ($1,788) for the 1999 period.
The Company incurred operating expenses for the three month period of
$0 in 1998 compared to $1,825 in the same period in 1999. The Company recorded a
net operating loss of $0 for the 1998 period as compared to ($1,788) for the
same period in fiscal year 1999. The Company losses will continue until business
can be achieved and profitable operations are achieved. While the Company is
seeking capital sources for investment, there is no assurance that capital
sources can be found. The loss per share for the 1998 fiscal quarter was $0
compared to less than ($.01) in the fiscal quarter of 1999.
LIQUIDITY AND CAPITAL RESOURCES
The Company had cash capital of $6,008 at the end of the period. The
Company will be forced to make private placements of stock in order to fund
operations continuance. No assurance exists as to the ability to make private
placements of stock. At November 30, 1999, it had no accounts receivable. The
Company has current liabilities of $7,575 which exceed current assets by
approximately $1,567. The Company is in default on notes totaling $7,500,
although no demand for payment has been issued.
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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
(a) The following are filed as Exhibits to this
Quarterly Report. The numbers refer to the Exhibit Table of
Item 601 of Regulation S-K:
None.
(b) Reports on Form 8-K filed during the three months
ended November 30, 1999. (incorporated by reference)
None.
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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 of the
undersigned thereunto duly authorized.
Dated: March 8, 2000
INVESTRA ENTERPRISES, INC.
by:/s/Scott Deitler
Scott Deitler, President
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> AUG-31-2000
<PERIOD-END> NOV-30-1999
<CASH> 6,008
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 6,008
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 6,008
<CURRENT-LIABILITIES> 7,575
<BONDS> 0
0
0
<COMMON> 300
<OTHER-SE> (1,867)
<TOTAL-LIABILITY-AND-EQUITY> 6,008
<SALES> 0
<TOTAL-REVENUES> 37
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 1,750
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 75
<INCOME-PRETAX> (1,788)
<INCOME-TAX> 0
<INCOME-CONTINUING> (1,788)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (1,788)
<EPS-BASIC> (.0)
<EPS-DILUTED> (.0)
</TABLE>
