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 January 31, 2000
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the transition period from to
-------------- ------------------
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:
JANUARY 31, 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.
<PAGE>
LITTLE CREEK, INC.
BALANCE SHEETS
January 31, 2000 and July 31, 1999
<TABLE>
<CAPTION>
1/31/00 7/31/99
----------------- -----------------
[Unaudited]
ASSETS
Assets
<S> <C> <C>
Cash $ 0 $ 0
Total Assets $ 0 $ 0
================= =================
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities:
Accounts payable $ 1,000 $ 1,000
Loans from stockholders $ 194 $ 1,476
----------------- -----------------
Total Liabilities 1,194 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 (44,176) (43,982)
----------------- -----------------
Total Stockholders' Deficit (1,194) (2,476)
----------------- -----------------
Total Liabilities and Stockholders' Deficit $ 0 $ 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 Six Month Periods Ended January 31, 2000 and 1999
<TABLE>
<CAPTION>
Three Months Three Months Six Months Six Months
Ended Ended Ended Ended
1/31/00 1/31/99 1/31/00 1/31/99
---------------- --------------- ------------- -------------
[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 100 0 194 0
Professional Fees 0 0 0 0
---------------- --------------- ------------- -------------
Total Operating Expenses 100 0 194 0
---------------- --------------- ------------- -------------
Net Income Before Taxes $ (100) $ 0 $ (194)$ 0
================ =============== ============= =============
Income/Franchise taxes 0 0 0 0
Net loss (100) 0 (194) 0
Loss Per Share $ (0.01) $ (0.01)$ (0.01)$ (0.01)
================ =============== ============= =============
Weighted Average Shares Outstanding 1,491,483 4,875,000 1,773,443 4,875,000
================ =============== ============= =============
</TABLE>
<PAGE>
LITTLE CREEK, INC.
STATEMENTS OF CASH FLOWS
For the Three and Six Month Periods Ended January 31, 2000 and 1999
<TABLE>
<CAPTION>
Three Months Three Months Six Months Six Months
Ended Ended Ended Ended
1/31/00 1/31/99 1/31/00 1/31/99
-------------- -------------- --------------- ---------------
[Unaudited] [Unaudited] [Unaudited] [Unaudited]
Cash Flows Used For Operating Activities
- ---------------------------------------------------
<S> <C> <C> <C> <C>
Net Loss $ (100) $ 0 $ (194) $ 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 100 0 194 0
-------------- -------------- --------------- ---------------
Net Cash Used For Operating Activities 0 0 0 0
============== ============== =============== ===============
Cash Flows Provided by Financing Activities 0 0 0 0
- -------------------------------------------------------
Net Increase In Cash 0 0 0 0
Beginning Cash Balance 0 0 0 0
Ending Cash Balance $ 0 $ 0 $ 0 $ 0
-------------- -------------- --------------- ---------------
</TABLE>
<PAGE>
Item 2.Management's Discussion and Analysis or Plan of Operation.
Plan of Operation.
The Company has not engaged in any material operations during the period
ending January 31, 2000, or since before 1989. The Company intends to continue
to seek out the acquisition of assets, property or business that may be
beneficial to the Company and its stockholders.
The Company's only foreseeable cash requirements during the next 12 months
will relate to maintaining the Company in good standing in the State of Utah,
keeping its reports "current" with the Securities and Exchange Commission or the
payment of expenses associated with reviewing or investigating any potential
business venture. Management does not anticipate that the Company will have to
raise additional funds during the next 12 months, however, if additional moneys
are needed, they may be advance by management or principal stockholders as loans
to the Company. Because the Company has not identified any such venture as of
the date of this Report, it is impossible to predict the amont of any such loan.
However, any such loan will not exceed $25,000 and will be on terms no less
favorable to the Company than would be available from a commercial lender in an
arm's length transaction. As of the date of this Report, the Company has not
begun seeking any acquisition.
Results of Operations.
The Company has had no business operations during the quarterly period
ended January 31, 2000 or since on or before approximatly 1989. During the
quarterly period ended January 31, 2000, the Company received no revenue and
incurred expenses of $100, stemming from general office expenses.
Liquidity.
At January 31, 2000, the Company had total current assets of $0 and total
liabilities of $1,194.
<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: 2-1-00 /S/ TRAVIS JENSON
Travis Jenson, President and Director
Date: 2-1-00 /S/ THOMAS HOWELLS
Thomas Howells, Vice President and Director
Date: 2-1-00 /S/ JAMES DOOLIN
James Doolin, Treasurer and Director
<TABLE> <S> <C>
<ARTICLE> 5
<CIK> 0001100125
<NAME> LITTLE CREEK, INC.
<MULTIPLIER> 1
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-START> NOV-01-1999
<PERIOD-END> JAN-31-2000
<EXCHANGE-RATE> 1
<CASH> 0
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 0
<CURRENT-LIABILITIES> 1,194
<BONDS> 0
0
0
<COMMON> 1,491
<OTHER-SE> (2,685)
<TOTAL-LIABILITY-AND-EQUITY> 0
<SALES> 0
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 100
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 0
<INCOME-TAX> 0
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (100)
<EPS-BASIC> (0.01)
<EPS-DILUTED> (0.01)
</TABLE>
