LOUGHRAN GO CORP
10QSB, 2000-09-08
NON-OPERATING ESTABLISHMENTS
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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 June 30,2000.
[ ] Transition report under Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from ------------ to --------------

Commission file number: 000-28457

LOUGHRAN/GO CORPORATION.
--------------------------------------
(Exact name of small business issuer as specified in its charter)

Nevada
(State or other jurisdiction of
incorporation or organization)		 86-0955239
(I.R.S. Employer Identification No.)

18036 N 15th Street
Phoenix, AZ 85022
------------------------------------------
(Address of principal executive office) (Zip Code)

(602) 647-9700
----------------------
(Issuer's telephone number)

Check whether the issuer: (1) 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 (2) has been subject to such filing requirements for the past 90 days.

Yes XX   No -----  

The number of outstanding shares of the issuer's common stock, $0.001 par value, as of June 30, 2000 was 500,000.

TABLE OF CONTENTS

Part I Financial Information   Page
       
Item 1. Financial Statements:    
       
  Condensed Balance Sheets
June 30, 2000 (unaudited) and December 31, 1999		   2
       
  Condensed Statements of Operations for the three months ended June 30, 2000 and 1999 (unaudited), and cummulative from inception on April 29, 1996 through March 31, 2000   3
       
  Condensed Statements of Cash Flows for the three months ended June 30, 2000 and 1999 (unaudited), and cummulative from inception on April 29, 1996 through June 30, 2000   4
       
  Notes to Financial Statements (unaudited)   5
       
Item 2. Plan of operation   5
       
Part II Other Information   5

 

Part I - Financial Information

LOUGHRAN/GO CORPORATION
(a Development Stage Company)
CONDENSED BALANCE SHEETS

June 30
December 31,
           

2000

1999
           

(unaudited)

 
      ASSETS        
               
CURRENT ASSETS            
               
               
Cash           $ - $ -
               
Total Current Assets       $ - $ -
               
               
            $ - $ -
               
  LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)  
               
               
CURRENT LIABILITIES          
               
Accounts payable       $ 2.955 $ 2,280
Accounts payable-shareholder     7,325 3,015
               
Total Current Liabilities       10,280 5,295
               
COMMITMENTS AND CONTINGENCIES        
               
STOCKHOLDERS' EQUITY (DEFICIT)        
               
Common stock, par value $.001, 25,000,000 shares      
authorized, 500,000 issued and outstanding   500 500
Paid-in capital         500 500
Contributed capital       10,680 9,600
(Deficit) accumulated during the development stage   (21,960) (15,895)
               
               
Total Stockholders' Equity (Deficit)     (10,280) (5,295)
               
            $ - $ -
               

The accompanying note are an integral part of the unaudited financial statements

LOUGHRAN/GO CORPORATION
(a Development Stage Company)
CONDENSED STATEMENTS OF OPERATIONS
(UNAUDITED)

Cummulative

 

from

 

April 29,

 

1996

 
Six Months Ended

(Inception)

 

June 30

   to
 

2000

1999 March 31, 2000
 
REVENUES       $ - $ -

$ -

               
EXPENSES            
General and administrative     5,950 1,080 21,845
Interest         115   115
               
          6,065 1,080 21,960
               
NET (LOSS)       $ (6,065) $ (1,080) $ (21,960)
NET (LOSS) PER SHARE     $(0.00) $ -  
               
WEIGHTED AVERAGE NUMBER OF        
COMMON SHARES OUTSTANDING   500,000 500,000  

The accompanying note are an integral part of the unaudited financial statements

LOUGHRAN/GO CORPORATION
(a Development Stage Company)
CONDENSED STATEMENTS OF CASH FLOWS
(UNAUDITED)

Cummulative

 

from

 

April 29,

 

1996

 
Six Months Ended

(Inception)

 

June 30,

  to
 

2000

1999 March 31, 2000
 
CASH FLOWS FROM OPERATING ACTIVITIES      
               
Net ( loss)       (6,065) (1,080) (21,960)
Adjustments to reconcile net loss to        
net cash used by operating activities:        
  Capital contributed for services   1,080 1,080 10,680
  Capital stock issued for services       1,000
Changes in operating assets and liabilities:      
  Increase (decrease) in accounts payable 4,985   10,280
               
  Net Cash (Used) by Operating Activities - - -
               
NET (DECREASE) IN CASH     - - -
               
CASH AT BEGINNING OF PERIOD,   - - -
               
CASH AT END OF PERIOD     $ - $ - $ -

The accompanying note are an integral part of the unaudited financial statements

Note 1. BASIS OF PRESENTATION

In the opinion of management, the accompanying unaudited condensed financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the Company's financial position as of June 30, 2000 and the results of its operations and cash flows for the six months ended June 30, 2000 and 1999 have been included. Operating results for the six months ended June 30, 2000 are not necessarily indicative of the results that may be expected for the year ended December 31, 2000.

These condensed financial statements should be read in conjunction with the financial statements and notes thereto contained in the Company's Form 10-KSB for the year ended December 31, 1999.

ITEM 2. PLAN OF OPERATION

For the near term, the Company continues to seek merger and/or acquisition candidates. It has had no operations since inception and is financially dependent on its shareholders, who have financed its existence to date. Management of the Company believes that its shareholders will continue to provide the finances the Company requires, without the need to raise additional capital.

 

PART II-OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS
None.

ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS
None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None/Not Applicable.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITIES HOLDERS
None/Not Applicable.

ITEM 5. OTHER INFORMATION
None.

 

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, this 08th day of September, 2000.

/s/ David M. Young
David M. Young, President
September 08, 2000



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