U. S. Securities and Exchange Commission
Washington, D. C. 20549
FORM 10-QSB
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the quarterly period ended April 30, 2000
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the transition period from to
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Commission File No.
0-28325
LITTLE CREEK, INC.
(Name of Small Business Issuer in its Charter)
UTAH 87-0642252
(State or Other Jurisdiction of (I.R.S. Employer I.D. No.)
incorporation or organization)
5525 South 900 East, Suite 110
Salt Lake City, Utah 84117
(Address of Principal Executive Offices)
Issuer's Telephone Number: (801)262-8844
N/A
-----------
(Former Name or Former Address, if changed since last Report)
Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Sections 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 such
filing requirements for the past 90 days.
(1) Yes X No (2) Yes X No
---- ---- ---- ----
<PAGE>
APPLICABLE ONLY TO CORPORATE ISSUERS Indicate the number of shares
outstanding of each of the Registrant's classes of common stock, as of the
latest practicable date:
APRIL 30, 2000
1,491,483
DOCUMENTS INCORPORATED BY REFERENCE
A description of any "Documents Incorporated by Reference" is contained in
Item 6 of this Report.
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 and commence on the
following page, together with related Notes. In the opinion of management, the
Financial Statements fairly present the financial condition of the Registrant.
In accordance with the Securities and Exchange Commission's Audit Committee
Disclosure requiring that companies' independent auditors review the companies
financial information prior to the companies filing their Quarterly Reports on
Form 10-Q or Form 10-QSB with the Commission. The Company's auditor, Mantyla
McReynolds, CPA, has reviewed and has retained a copy of these financial
statements, but has offered no opinion as to their accuracy, completion, or
conformance to accounting standards.
<PAGE>
LITTLE CREEK, INC.
BALANCE SHEETS
April 30, 2000 and July 31, 1999
<TABLE>
<CAPTION>
4/30/00 7/31/99
----------------- -----------------
[Unaudited]
ASSETS
Assets
<S> <C> <C>
Cash $ 16,000 $ 16,000
Total Assets $ 0 $ 0
================= =================
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities:
Accounts payable $ 1,000 $ 1,000
Loans from stockholders $ 1,862 $ 1,476
Other Liabilities:
Notes Payable $ 16,000 $ 0
----------------- -----------------
Total Liabilities 18,862 2,476
Stockholders' Equity:
Common Stock, $.001 par value;
authorized 50,000,000 shares; issued and
outstanding, 1,491,483 shares 1,491 4,875
Paid-in Capital 41,491 36,631
Accumulated Deficit (45,844) (43,982)
----------------- -----------------
Total Stockholders' Deficit (2,862) (2,476)
----------------- -----------------
Total Liabilities and Stockholders' Deficit $ 16,000 $ 0
================= =================
</TABLE>
NOTE TO FINANCIAL STATEMENTS:
Interim financial statements reflect all adjustments which are, in the opinion
of management, necessary to a fair statement of the results for the periods. The
July 31, 1999, balance sheet has been derived from the audited financial
statements. These interim financial statements conform with the requirements for
interim financial statements and consequently do not include all the disclosures
normally required by generally accepted accounting principles.
<PAGE>
LITTLE CREEK, INC.
STATEMENTS OF OPERATIONS
For the Three and Nine Month Periods Ended April 30, 2000 and 1999
<TABLE>
<CAPTION>
Three Months Three Months Nine Months Nine Months
Ended Ended Ended Ended
4/30/00 4/30/99 4/30/00 4/30/99
---------------- --------------- ------------- -------------
[Unaudited] [Unaudited] [Unaudited] [Unaudited]
REVENUE
<S> <C> <C> <C> <C>
Income $ 0 $ 0 $ 0 $ 0
---------------- --------------- ------------- -------------
NET REVENUE 0 0 0 0
Operating Expenses
Office Expenses 793 0 987 0
Professional Fees 875 0 875 0
---------------- --------------- ------------- -------------
Total Operating Expenses 1,668 0 1,862 0
---------------- --------------- ------------- -------------
Net Income Before Taxes $ (1,668) $ 0 $ (1,862)$ 0
================ =============== ============= =============
Income/Franchise taxes 0 0 0 0
Net loss (1,668) 0 (1,862) 0
Loss Per Share $ (0.01) $ (0.01)$ (0.01)$ (0.01)
================ =============== ============= =============
Weighted Average Shares Outstanding 1,491,483 4,875,000 1,679,456 4,875,000
================ =============== ============= =============
</TABLE>
<PAGE>
LITTLE CREEK, INC.
STATEMENTS OF CASH FLOWS
For the Three and Nine Month Periods Ended April 30, 2000 and 1999
<TABLE>
<CAPTION>
Three Months Three Months Nine Months Nine Months
Ended Ended Ended Ended
4/30/00 4/30/99 4/30/00 4/30/99
-------------- -------------- --------------- ---------------
[Unaudited] [Unaudited] [Unaudited] [Unaudited]
Cash Flows Used For Operating Activities
---------------------------------------------------
<S> <C> <C> <C> <C>
Net Loss $ (1.668) $ 0 $ (1,862) $ 0
Adjustments to reconcile net loss to net cash
used in operating activities:
Increase/(Decrease) in Accounts Payable 0 0 0 0
Increase/(Decrease) in loans from shareholder 1,668 0 1,862 0
-------------- -------------- --------------- ---------------
Net Cash Used For Operating Activities 0 0 0 0
============== ============== =============== ===============
Cash Flows Provided by Financing Activities
-------------------------------------------------------
Increase/(Decrease) in Notes Payable 16,000 0 16,000 0
Net Increase In Cash 0 0 0 0
Beginning Cash Balance 0 0 0 0
Ending Cash Balance $ 16,000 $ 0 $ 16,000 $ 0
-------------- -------------- --------------- ---------------
</TABLE>
<PAGE>
Item 2.Management's Discussion and Analysis or Plan of Operation.
Plan of Operation.
The Company has commenced initiation of it business plan during the period
ending April 30, 2000. The Company raised capital, through a debt offering, to
purchase recreational vehicles for the intent of renting or leasing them to
individuals or companies.
The Company's only foreseeable cash requirements during the next 12 months
will relate to maintaining the Company's vehicles and acquiring more vehicles if
neccessary, insuring the vehicles, advertising, payroll, and general office
expenses, which include but are not limited to: maintaining the Company's "good
standing" status in the State of Utah, keeping its reports "current" with the
Securities and Exchange Commission, and the payment of expenses associated with
reviewing or investigating any additional business ventures. Management does not
anticipate that the Company will have to raise additional funds during the next
12 months.
Results of Operations.
The Company initiated operations during the quarterly period ended April
30, 2000. During the quarterly period ended April 30, 2000, the Company received
no revenue, incurred expenses of $1,668, resulting from general office expenses,
and raised $16,000 through debt financing to further the Company's business
plan.
Liquidity.
At April 30, 2000, the Company had total current assets of $16,000 and
total liabilities of $18,862.
<PAGE>
PART II - OTHER INFORMATION
Item 1.Legal Proceedings.
None; not applicable.
Item 2.Changes in Securities.
None; not applicable.
Item 3.Defaults Upon Senior Securities.
None; not applicable.
Item 4.Submission of Matters to a Vote of Security Holders.
None; not applicable.
Item 5.Other Information.
None; not applicable
Item 6.Exhibits and Reports on Form 8-K.
(a)Exhibits.
None; Not Applicable.
(b)Reports on Form 8-K.
None; Not Applicable
<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.
LITTLE CREEK, INC.
Date:5/11/00 /S/TRAVIS JENSON
Travis Jenson, President and Director
Date:5/11/00 /S/JAMES DOOLIN
James Doolin, Treasurer and Director
