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 September 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.
0-30657
WASATCH WEB ADVISORS, INC.
(Name of Small Business Issuer in its Charter)
UTAH 87-0638510
(State or Other Jurisdiction of (I.R.S. Employer I.D. No.)
incorporation or organization)
941 East 3665 South
Salt Lake City, Utah 84106
(Address of Principal Executive Offices)
Issuer's Telephone Number: (801)231-6735
None, Not Applicable;
-----------
(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 ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE
PRECEDING FIVE YEARS
None, Not Applicable;
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:
September 30, 2000
1,142,857
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. The
Financial Statements have been reviewed and are on file with the Company's
Auditor.
<PAGE>
<TABLE>
<CAPTION>
WASATCH WEB ADVISORS, INC.
[A Development Stage Company]
Balance Sheet
For the Period ending September 30, 2000 and the
Year Ended December 31, 1999
09/30/2000 12/31/1999
---------- ----------
[Unaudited]
ASSETS
Current Assets
<S> <C> <C>
Cash $ 20,721 $ 24,963
-------- --------
Total Current Assets $ 20,721 $ 24,963
Property and Equipment
Property and Equipment $ 4,003 $ 4,003
Less: Accumulated Depreciation (1,010) (311)
Total Property and Equipment $ 2,993 $ 3,692
-------- --------
TOTAL ASSETS $ 23,714 $ 28,655
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES
Current Liabilities
Accrued Liabilities $ 138 $ 138
Payable to shareholder 0 3,500
Income taxes payable - 100 100
------- --------
Total Current Liabilities 238 3,738
TOTAL LIABILITIES 238 3,738
STOCKHOLDERS' EQUITY
Capital stock - 50,000,000 shares authorized at $0.01 par;
1,142,857 and 1,000,000, respectively, shares issued and
outstanding 10,143 10,000
Additional paid-in capital 24,857 20,000
Deficit accumulated during development stage (11,524) (5,083)
TOTAL STOCKHOLDERS EQUITY 23,476 24,917
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY $ 23,714 28,655
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
WASATCH WEB ADVISORS, INC.
[A Development Stage Company]
STATEMENTS OF OPERATIONS
For the Three Months and Nine Months Ended September 30, 2000
and for the period from inception through September 30, 2000
For the
period from
Inception
[9/14/99]
through
Three Months Nine Months 9/30/00
Ended Ended
9/30/00 9/30/00
--------------- --------------- -----------
[Unaudited] [Unaudited]
<S> <C> <C>
Revenues $ 226 $ 3,217 $ 4,152
Cost of Sales $ 0 $ 0 $ 935
--------------- --------------- -----------
Gross Margin 226 3,217 3,217
General and Administrative Expenses 4,067 9,658 14,641
--------------- --------------- -----------
Net Income/(Loss) from Operations (3,841) (6,441) (11,424)
--------------- --------------- -----------
Net Income/(Loss) Before Taxes $ (3,841) $ (6,441) $ (11,424)
=============== =============== ===========
Income/Franchise taxes 0 0 100
Net Income/ (Loss) (3,841) (6,441) (11,524)
Income/(Loss) Per Share $ (0.01) $ (0.01) $ (0.01)
=============== =============== ===========
Weighted Average Shares Outstanding 1,142,857 1,072,487 1,056,564
=============== =============== ===========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
WASATCH WEB ADVISORS, INC.
[A Development Stage Company]
STATEMENTS OF CASH FLOWS
For the Three Month and Nine Month Periods Ended September 30, 2000
and for the period from inception through September 30, 2000
For the
period from
Inception
[09/14/99]
through
Three Months Nine Months 9/30/00
Ended Ended
9/30/00 9/30/00
------------- -------------- ------------
[Unaudited] [Unaudited]
Cash Flows Used For Operating Activities
------------------------------------------------
<S> <C> <C>
Net Loss $ (3,841) $ (6,441) $ (11,524)
Adjustments to reconcile net loss to net cash
used in operating activities:
Depreciation 233 699 1,010
Increase/(Decrease) in accounts payable 0 0 0
Increase/(Decrease) in Taxes Payable 0 0 100
Shares issued for forgiveness of debt 0 1,500 5,000
Increase in accrued liabilities 0 0 138
------------- -------------- ------------
Net Cash Used For Operating Activities (3,608) 4,242) (5,276)
============= ============== ============
Cash Flows Provided by Investing Activities
----------------------------------------------------
Increase/(Decrease) in Property, Plant & 0 0 4,003
Equipment ------------- -------------- ------------
Net Cash Used for Investing Activities 0 0 (4,003)
============= ============== ============
Cash Flows Provided by Financing Activities
---------------------------------------------------
Issued stock for cash 0 0 30,000
------------- -------------- ------------
Net Cash Provided by Financing Activities 0 0 30,000
============= ============== ============
Net Increase/(Decrease) In Cash (3,608) (4,242) 0
Beginning Cash Balance 24,329 24,963 0
Ending Cash Balance $ 20,721$ 20,721 20,721
------------- -------------- ------------
</TABLE>
<PAGE>
WASATCH WEB ADVISORS, INC.
Notes to the Interim Financial Statements
NOTE 1- BASIS OF PRESENTATION
The accompanying unaudited interim financial statements of Wasatch Web
Advisors, Inc. have been prepared in accordance with generally
accepted accounting principles and the rule of the Securities and
Exchange Commission ("SEC"), and should be read in conjunction with
the audited financial statements and notes thereto contained in this
Registration Statement. In the opinion of management, all adjustments,
consisting of normal recurring adjustments, necessary for a fair
presentation of financial position and the results of operations for
interim are not necessarily indicative of the results to be expected
for the full year.
<PAGE>
Item 2.Management's Discussion and Analysis or Plan of Operation.
Plan of Operation.
The Company has created relationships with several clients through a
all-in-one website service contract. Furthermore, the Company plans on
increasing its client base through advertisement and by broadening the services
in which it currently provides.
The Company's operations during the quarterly period ended September 30,
2000, resulted in $226 in revenues and incurred expenses of $4,067, stemming
from costs related to sales, and also, general and administrative expenses.
Liquidity
At September 30, 2000, the Company had total current assets of $20,721 and
total liabilities of $238.
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; applicable
Item 6.Exhibits and Reports on Form 8-K.
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.
WASATCH WEB ADVISORS, INC.
Date:10/11/2000 /S/ JAMES DOOLIN
James Doolin, President and Director
Date:10/11/2000 /S/ ALYCIA ANTHONY
Alycia Anthony, Secretary and Director
