INTERNATIONAL BRANDS INC
10QSB, 2000-11-21
NON-OPERATING ESTABLISHMENTS
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                           Form 10-QSB
             U. S. Securities and Exchange Commission
                      Washington, D. C. 20549

[X] Quarterly report pursuant section 13 or 15(d) of the Securities Act
of 1934

        For the quarterly period ended September 30th, 2000

               Commission file number:  000-28207


                    INTERNATIONAL BRANDS, INC.
     (Exact Name of Registrant as Specified in its Charter)


        Nevada		                          					33-0652291
(State of Incorporation)				              (I.R.S. Employer
                                           Identification
							                                    Number)


          7729 Othello Ave.
           San Diego, CA.			                       			92111
       (Address of Principal 				                   (Zip Code)
        Executive Offices)

                               (858) 292-3380
                          Fax: (858) 292-1528
                (Registrant's Executive Office Telephone Number)


Check whether the issuer:

[]	filed all reports required to be filed by Section 13 or 15(d) of
the Exchange Act 	during the past 12 months (or for such shorter period
that the registrant was 	required to file such reports), and
has been subject to such filing requirements for the past
90 days.
	Yes____X_____     No___________-



Item 1. Financial Statements

The required financials are hereby attached..

Item 2. Management's Discussion and Analysis or Plan of Operation

International Brands' Inc. is a diversified company whose current
emphasis has been on an e-commerce shopping mall. Our revenues are generated
by sales of products from this site as well as income we receive from notes
receivable from Z3 Capital Corporation. Our operating expenses include rent,
payments to independent contractors and payment for merchandise sold on our
website, various professional expenses, such as audit, and legal.

We plan to enhance our website by acquiring new products and heighten
the products appeal to potential buyers with improved presentations. We
also plan to implement our acquisition in spin-off strategies. The plan
would increase investors equity through distribution of shares in new
companies. The company is currently in negotiations to acquire three
spin-off three "bricks-and-mortar" companies to enhance the value of
shareholder holdings and help insulate the company from wild
fluctuations in any one segment of the stock market. At this particular
time, it is important to remember that International Brands is and
always has been a diversified company with interests outside-as well as
inside the world of e-commerce. Currently, the directors are
negotiating with several companies to increase the diversity of your
portfolio by acquiring those companies and spinning them off into
independent enterprises in which all current IBI stockholders would
automatically be granted shares.

Possible uncertainties which may have an impact on the International
Brands, Inc short and long term liquidity include, market conditions,
competition from other dot com companies and Z3 Capital's ability to
maintain its payments on the promissory notes to IBI and possible legal
challenges. A minor material commitment for a capital expenditure
exists in a pending agreement to purchase an additional server/backup
for our website.





NOTE REGARDING PROJECTIONS AND FORWARD LOOKING STATEMENTS
This statement includes projections of future results and "forward-
looking statements" as that term is defined in Section 27A of the
Securities Act of 1933 as amended (the "Securities Act"), and Section
21E of the Securities Exchange Act of 1934 as amended (the "Exchange
Act"). All statements that are included in this Registration Statement,
other than statements of historical fact, are forward-looking
statements. Although the management of INBR believes that the
expectations reflected in these forward-looking statements are
reasonable, it can give no assurance that such expectations will prove
to have been correct. There may be factors that could cause actual
results to differ materially from the expectations are disclosed in
this Statement, including, without limitation, in conjunction with
those forward-looking statements contained in this Statement.



Part II.

Item 1.  Legal Proceedings.

On May 9, 2000, the Company received a final judgement against it as a
result of litigation initiated by the State of New Jersey against
International Brands and several other defendants.  As a result, the
Company is enjoined from selling any of its stock within the State of
New Jersey. In addition, International Brands shall send a notice to
all New Jersey residents who purchased stock, allowing them a right of
recision. International Brands, Z3 Capital Corporation and its chief
executive are liable to the State of New Jersey for $7,770 in civil
monetary penalties. This amount has been accrued on the Company's books
and is reflected as a liability at December 31, 1999 and March 31, 2000
since the source for payment of the penalty shall come from the
Company. The Company is currently appealing this judgement, however the
success of this appeal is in doubt.

A judgement was settled one year ago against IBI by Plaintiff Persall
for $6,081.81. This judgement has not yet been satisfied. Plaintiff has
filed to collect claim. Court date is December 5th, 2000.

Judgement settled on 8/31/00 against Worldbestbuy for $4,481.00 from
Alshire International.

Notice of legal action filed against Worldbestbuy from S&S Public
Relations for monies due.  This court date is set for January 2001.

Item 2.  Changes in Securities and Use of Proceeds.

The Company issued 853,100 shares of restricted common stock having a
market value of approximately $127,965 for Appreciation rights. It also
issued 302,285 shares of restricted common stock having a market value
of approximately $45,343 in exchange for preferred series IV stock. In
addition the company cancelled 7690 shares of preferred series IV stock
and reissued 535,265 of restricted common stock having a market value
of approximately $80,290. The company issued 193,571 shares of
restricted common shares to stockholders who exercised warrants in
exchange for $28,576. The company also issued 2,262,251 shares of
restricted common stock  in exchanges for services. These shares had an
approximate market value of $339,338.

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)


3.1              Certification of Incorporation filed as an exhibit to the
                 Company's registration statement on Form 10-SB filed on
                 November 19, 1999, and incorporated herein by reference.

3.2              By-Laws filed as an exhibit to the Company's registration
                 statement on Form 10-SB filed on November 19, 1999, and
                 incorporated herein by reference.

(b)

The Corporation filed an 8-K on January 12, 2000, and an amended 8-K on
January 18th. Pursuant  to an Acquisition Agreement and Plan  of  Merger
dated  as of January 12, 2000  between  International Brands, Inc
("IBI"), a Nevada corporation, and Tele Special.Com ("TSC"),  a Nevada
corporation, all the outstanding shares of common stock of TSC  were
exchanged  for  25,000 shares of common stock of IBI in  a  transaction
in which IBI was the surviving corporation. All document relating to such
transaction are incorporated by reference.


27.1 Unaudited Financials for September 30th, 2000.



SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant
caused this report  to be signed on its behalf by the undersigned,
thereunto duly authorized.


International Brands, Inc.

__/s/________________________
Kellie Fitzgerald, CFO




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