SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10QSB
Quarterly Report under Section 13 or 15(d) of
the Securities Exchange Act of 1934
For Quarter Ended Commission File Number
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March 31, 2000 0-114873
TEMPUS, INC.
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(Exact name of registrant as specified in its charter)
Wyoming 83-0321934
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(State of incorporation) (I.R.S. Employer
Identification No.)
214 South Center Street, Casper, Wyoming, 82601
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: None
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 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 the filing
requirements for at least the past 90 days.
Yes No X
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Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.
780,000 common shares as of March 31, 2000
<PAGE>
TEMPUS, INC.
(A Development Stage Company)
FINANCIAL STATEMENTS
For the Three Months Ended March 31, 2000
(Unaudited)
<PAGE>
<TABLE>
<CAPTION>
TEMPUS, INC.
(A Development Stage Company)
Balance Sheet
For the Threee Month Period Ended March 31, 2000
(Unaudited)
Three-Months Three-Months
Ended Ended
ASSETS Mar 31, 2000 Mar 31, 1999
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<S> <C> <C>
Current Assets:
Cash $ 391 $ 550
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Total Current Assets 391 550
Other Assets:
Investment in Western Technology 750 750
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Total Other Assets 750 750
Total Assets $ 1,141 $ 1,300
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LIABILITIES & STOCKHOLDERS' EQUITY
Stockholders's Equity (Note 2)
50,000,000 shares authorized at $.001 par value
510,000 shares issued and outstanding in 1999 & $ 1,230 $ 510
1,230,000 shares issued and outstanding in 2000
Additional Paid-in Capital 2,333 990
Deficit accumulated during the development stage (2,422) (200)
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Total Liabilities & Stockholders' Equity $ 1,141 $ 1,300
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</TABLE>
The accompanying notes are an integral part of these financial statements.
<PAGE>
<TABLE>
<CAPTION>
TEMPUS, INC.
Stockholders' Equity
March 31, 2000
(Unaudited)
COMMON STOCKS Additional Retained Total
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Paid-In Earnings Stockholders'
Shares Amount Capital (Deficit) Equity
------ ------ ------- --------- -------------
<S> <C> <C> <C> <C> <C>
Issuance of Stock for Cash 510,000 $ 510 $ 990 $ - $ 1,500
Net Deficit 12/31/98 - - - (200) (200)
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Balance 12/31/98 510,000 510 990 (200) 1,300
Issuance of Stock for Cash 720,000 720 1,343 - 2,063
Net Deficit 12/31/99 - - - (2,222) (2,222)
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Balance 12/31/99 1,230,000 1,230 2,333 (2,422) 1,141
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Net Deficit 3/31/00 - - - - -
---------- -------- ------- -------- ---------
Balance 3/31/00 1,230,000 $ 1,230 $ 2,333 $(2,422) $ 1,141
========== ======== ======= ======== =========
</TABLE>
The accompanying notes are an integral part of these financial statements.
<PAGE>
<TABLE>
<CAPTION>
TEMPUS, INC.
(A Development Stage Company)
Statement of Operations
For the Period Apr. 16, 1998 (Inception) to March 31, 2000
(Untitled)
Apr. 16, 1998
March 31, March 31, Inception to
2000 1999 March 31, 2000
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<S> <C> <C> <C>
Revenue: $ - $ - $ -
Costs and Expenses:
Office Expenses - - 287
Accounting Expense - - 2,000
Filing Fees - 25 135
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Net Loss $ - ($ 25) ($ 2,422)
============ ============ ==================
Per Share Information:
Weighted average number
of common shares outstanding 750,000 297,500 750,000
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Net Loss per common share * * *
============ ============ ==================
</TABLE>
The accompanying notes are an integral part of these financial statements.
<PAGE>
<TABLE>
<CAPTION>
TEMPUS, INC.
(A Development Stage Company)
Statement of Cash Flows
For the Three Months Ended March 31, 2000
(Untitled)
April 16, 1998
March 31 March 31 Inception to
Cash Flows from Operating Activities: 2000 1999 March 31, 2000
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<S> <C> <C> <C>
Net Loss $ 0 $ (200) $ (2,422)
(Increase) in Investment - (750) (750)
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Net Cash Provided by Operating Activities 0 (950) (3,172)
Cash Flows from Financing Activities:
Proceeds from stock issuance 0 1,500 3,563
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Net Cash Provided by Financing Activities 0 1,500 3,563
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Net Increase in Cash & Cash Equivalent 0 550 391
Beginning Cash & Cash Equivalent 391 - -
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Ending Cash & Cash Equivalent $ 391 $ 550 $ 391
============ ============ ==================
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash Paid During the Year for:
Interest - - -
Income Taxes - - -
</TABLE>
The accompanying notes are an integral part of these financial statements.
<PAGE>
TEMPUS, INC.
(A Development Stage Company)
March 31, 2000
(Unaudited)
Note 1 - Organization and Summary of Significant Accounting Policies:
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Organization:
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The Company was incorporated on April 16, 1998, in the state of Wyoming. The
Company is in the development stages and was organized for the purpose of
raising capital. The Company's fiscal year end is December 31.
Basis of Presentation:
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The Company is primarily engaged in capital raising. The authorized capital
stock of the corporation is 50,000,000 shares of common stock $.001 par value.
Cash and Cash Equivalents:
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The Company considers all highly-liquid debt instruments, purchased with an
original maturity of three months or less, to be cash equivalents.
Revenue Recognition:
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Revenue is recognized when earned and expenses are recognized when they occur.
Use of estimates:
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The preparation of financial statements, in conformity with generally accepted
accounting principles, requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities, and disclosure of
contingent assets and liabilities at the date of the financial statements and
the reported amounts of revenue and expenses during the reporting period. Actual
results could differ from those estimates.
Net Loss Per Share
------------------
Net loss per share is based on the weighted average number of common shares and
common shares equivalents outstanding during the period.
<PAGE>
TEMPUS, INC.
(A Development Stage Company)
March 31, 2000
(Unaudited)
Note 2 - Stockholders' Equity
--------------------
During the period, the Corporation issued 1,230,000 shares of its $.001 par
value common stock. 510,000 shares were sold in May 1998 for cash of $1,500, and
720,000 were sold in August 1999 for cash of $2,063.
Note 3 - Federal Income Taxes:
--------------------
The Company accounts for income taxes under SFAS No. 109, which requires the
assets and liability approach to accounting for income taxes. Under this
approach, deferred income taxes are determined based upon differences between
the financial statement and tax bases of the Company's assets and liabilities
and operating loss carryforwards using enacted tax rates in effect for the years
in which the differences are expected to reverse. Deferred tax assets are
recognized if it is more likely than not that the future tax benefit will be
realized.
Note 4 - Related Party Transactions
--------------------------
The officers and directors of this Corporation are also officers and directors
of other companies.
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS
RESULTS OF OPERATIONS FOR THE QUARTER ENDED MARCH 31, 2000 COMPARED TO THE SAME
QUARTER IN 1999
The Company had no revenues in the quarter in 2000 or 1999. The Company
incurred no expenses in the quarter in 2000 and $25 in the quarter in 1999. The
company had no gain or loss in the period in 2000 as compared to ($25) in the
quarter in 1999. The profit or loss per share was nominal in the quarter in both
2000 and 1999.
The Company expects the lack of revenue to continue until a merger or
acquisition is completed.
LIQUIDITY AND CAPITAL RESOURCES
The Company has no liquid assets or cash. Its sole capital resources are it
shares of stock with which to make private placements.
PART II - OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
None
ITEM 2. CHANGES IN SECURITIES
None
ITEM 3. DEFAULT 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
No reports on Form 8-K were made for the period for which this report
is filed.
<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.
Date: May 22, 2000
TEMPUS, INC.
/s/ William A. Erickson
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William A. Erickson, President
