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 October 31, 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
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(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
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<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:
October 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>
<TABLE>
<CAPTION>
Little Creek, Inc.
Balance Sheet
October 31, 2000
10/31/2000 07/31/2000
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[Unaudited] [Audited]
ASSETS
Assets
Current Assets:
<S> <C> <C>
Cash $ 1,444 $ 869
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Total Current Assets: 1,444 869
Rental Equipment 12,387 12,387
Accumulated Depreciation (1,238) (619)
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Net Property 11,149 11,768
Total Assets $ 12,593 $ 12,637
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LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities:
Current Liabilities:
Accrued Interest $ 800 $ 400
Payable to shareholders 1,862 1,862
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Total Current Liabilities 2,662 2,262
Notes Payable 16,000 16,000
Total Liabilities 18,662 18,262
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Stockholders' Deficit:
Common Stock, $.001 par value;
authorized 50,000,000 shares; issued and
outstanding, 1,491,483 shares 1,491 1,491
Paid-in Capital 46,491 46,491
Accumulated Deficit (54,051) (53,607)
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Total Stockholders' Deficit (6,069) (5,625)
Total Liabilities and Stockholders' Deficit $ 12,593 $ 12,637
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</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Little Creek, Inc.
Statement of Operations
For the three month period ended October 31, 2000 and 1999
Three Three
Months Months
Ended Ended
10/31/2000 10/31/1999
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[Unaudited] [Unaudited]
REVENUE
<S> <C> <C>
Income $ 1,768 $ 0
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NET REVENUE 1,768 0
Operating Expenses
General & Administrative Expenses 2,212 94
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Total Operating Expenses 2,212 94
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Net Income Before Taxes $ (444) $ (94)
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Income/Franchise taxes 0
Net loss (444) (94)
Loss Per Share $ (0.01) $ (0.01)
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Weighted Average Shares Outstanding 1,491,483 2,055,403
============= =============
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Little Creek, Inc.
STATEMENTS OF CASH FLOWS
For the Three Month Period Ended October 31, 2000 and 1999
Three Three
Months Months
Ended Ended
10/31/2000 10/31/1999
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[Unaudited] [Unaudited]
Cash Flows Used For Operating
Activities
-----------------------------------------
<S> <C> <C>
Net Loss $ (444) $ (94)
Adjustments to reconcile net loss to net
cash
used in operating activities:
Increase/(Decrease) in Depreciation 619 0
Increase/(Decrease) in interest expense 400 0
Shares issued for forgiveness of debt 0 0
Increase/(Decrease) in accounts payable 0 0
Increase/(Decrease) in loans from 0 94
shareholder
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Net Cash Used For Operating Activities 575 0
============ ============
Cash Flows Provided by Financing Activities 0 0
--------------------------------------------
Net Increase In Cash 575 0
Beginning Cash Balance 869 0
Ending Cash Balance $ 1,444 $ 0
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</TABLE>
<PAGE>
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, 2000 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>
Item 2.Management's Discussion and Analysis or Plan of Operation.
Plan of Operation.
The Company's plan of operation for the next 12 months is to continue its
current rental business and to advertise through a variety of mediums including:
web-page, newspapers and flyers. During teh next 12 months, the Company's only
foreseeable cash requirements will relate to maintaining the Company's rental
equipment and advertisements. As of October 31, 2000, the Company had $1,444
cash on hand. If additional funds are required, such funds may be advanced by
management or stockholders as loans to the Company. As of the date of this
report, the Company has not engaged in any negotiations with any person
regarding such ventures.
Results of Operations.
The Company has been involved in renting recreational vehicles during the
quarterly period ended October 31, 2000. During the quarterly period ended
October 31, 2000, the Company received $1,768 in revenue and incurred expenses
of $2,212, stemming from general, administrative and interest expenses.
Liquidity.
At October 31, 2000, the Company had total current assets of $12,593 and
total liabilities of $18,662.
<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:11/22/00 /S/ TRAVIS JENSON
Travis Jenson, President and Director
Date:11/22/00 /S/ JAMES DOOLIN
James Doolin, Treasurer and Director
