--------------------------------------------------------------------------------
Miller Mays III
PRESIDENT
Mayscom, Inc.
4 Normandy Drive, Kenner LA 70065
(Name and Address of Person Authorized to Receive Notices
and Communications on Behalf of the Person Filing Statement)
--------------------------------------------------------------------------------
WITH A COPY TO:
KARL E. RODRIGUEZ, ESQ
24843 Del Prado, #318
Dana Point, CA 92629
(949) 248-9561
fax (949) 248-1688
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FORM 10-QSB
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
Commission File Number: 0-30809
For the Quarter ended September 30, 2000
MAYSCOM, INC.
(formerly NNN-HUNTOR ASSOCIATES, INC.)
Nevada Optional
(Jurisdiction of Incorporation) (I.R.S. Employer Identification No.)
4 Normandy Drive, Kenner LA 70065
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (504) 466-7004
Securities registered pursuant to Section 12(b) of the Act: 8,444,000 Common
Stock
Yes [X] No [ ] (Indicate by check mark whether the Registrant (1) has filed
all report 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 such filing requirements for the past 90 days.)
As of September 30, 2000, the number of shares of Common Stock outstanding was
8,444,000.
1
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PART I: FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS.
Attached hereto and incorporated herein by this reference are the following
financial statements:
--------------------------------------------------------------------------------
Exhibit FINANCIAL STATEMENTS
--------------------------------------------------------------------------------
00-QF3 Un-Audited Financial Statements for the three months and nine months
ended September 30, 2000
--------------------------------------------------------------------------------
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.
(A) PLAN OF OPERATION: NEXT TWELVE MONTHS.
(1) CASH REQUIREMENTS AND OF NEED FOR ADDITIONAL FUNDS, TWELVE MONTHS. We
have substantial cash requirements for the next twelve months, for the reason
that we anticipate considerable expenses in researching and compliance with
regulatory filings, and launching our activities during the next twelve months,
in addition to compliance with our reporting requirements.
Reference is made to Note 3, Going Concern, of the Registrant's Audited
Financial Statements previously filed: The Company's financial statements are
prepared using the generally accepted accounting principles applicable to a
going concern, which contemplates the realization of assets and liquidation of
liabilities in the normal course of business. However, the Company has no
current source of revenue. Without realization of additional capital, it would
be unlikely for the Company to continue as a going concern. It is management's
plan to seek additional capital through a merger with an existing operating
company.
Whereas consideration was given to attracting capital to achieve our plan,
through a business combination, we have determined that such a plan is not
feasible or attractive for our shareholders. We are not a candidate for
acquisition and intend to pursue our business plan. Since the end of 1999, we
have acquired cash of about $100,000. This amount is sufficient to sustain us in
pre-launch development mode, but is not considered sufficient to launch
operations.
In order to achieve significant revenues, it will be necessary for us to
pursue capital formation in two or more phases. The first phase will most likely
be an additional private placement, or limited offering to accredited or
sophisticated investors. We think that we would require an infusion of
$250,000.00 to accomplish our first phase, to launch operations. These amounts
would be allocated to legal and professional expenses to meet our regulatory
requirements, both applicable to our business, and for our continued compliance
with the Securities Exchange Act of 1934, for our continuing audit, for web-site
maintenance and up-grades, and a minimal staff of a few employees. Unless we are
able to achieve this level of additional funding, we may not be able to launch
operations in the next twelve months.
As a practical matter, we have exhausted our ability to raise funds as a
non-trading company. In order to pursue capital expansion, our common stock must
be quotable for purchase and sale in brokerage transactions, to provide
investors with minimal confidence that a market value for our common stock can
be ascertained.
It is not at all clear that this first phase of funding will provide
sufficient working capital to sustain our operations until profitability can be
achieved. It is likely that we would attain significant revenues before such
2
<PAGE>
revenues rise to the level of profitability, such that we may be required to
incur quarterly and annual deficits, even after significant revenues are
established.
It is management's intention to seek additional second phase funding, as
soon as revenues establish the potential viability of our operation, to sustain
those operations until true profitability is achieved. The amount of such a
second phase offering, and the method of offering have not been determined, and
are difficult to determine in advance of completion of our first phase funding
and launch of operations. While it may be possible to approach the second phase
by a private offering, it is likely that we would pursue a registered public
offering, without underwriting, of a sufficient number of shares to meet our
needs as then determined.
We do not anticipate any contingency upon which we would voluntarily cease
filing reports with the SEC, even though it may cease to be required to do so,
after the effectiveness of this 1934 Act registration. It is in our compelling
interest to report our affairs quarterly, annually and currently, as the case
may be, generally to provide accessible public information to interested
parties, and also specifically to establish and maintain our qualification for
the OTCBB.
(B) DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
(1) OPERATIONS AND RESULTS FOR THE PAST TWO FISCAL YEARS. We have not
launched our operations and have recently modified and substantially refined our
business plan. We had no significant operations during the past several years.
We have recorded no revenues or expenses during that time. Beginning with this
year 2000, we have incurred substantial legal, professional and auditing
expenses.
(2) SELECTED FINANCIAL INFORMATION.
<TABLE>
<CAPTION>
<S> <C> <C>
Balance Sheet . . Sept 30, 2000 December 31, 1999
----------------------------------------------------
Cash. . . . . . . $ 8,612 0$
Other . . . . . . 0 0
Total Assets. . . 8,612 0
====================================================
Accounts Payable. 2,376 0
Other . . . . . . 0 0
Total Liabilities 2,376 0
====================================================
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
SECOND QUARTER. . Inception
June 19,
1990
to
Operations July 1 to Sept 30 Jan 1 to Sept 30 Sept 30
2000 1999 2000 1999 2000
------------------------------------------------------------------------------------------------
Misc Revenues:. . . . . . $ 1,000 $ 0 $ 1,750 $ 0 $ 1,750
Total Revenues . . . . . 1,000 0 1,750 0 1,750
General & Administrative. 16,178 0 106,514 0 110,621
Total Expenses . . . . . 16,178 0 106,514 0 110,621
Net (Loss). . . . . . . . (15,178) 0 (104,764) 0 (108,871)
</TABLE>
3
<PAGE>
(3) FUTURE PROSPECTS. Our business plan is deemed to be ambitious, in
the light of competitive factors, and the need for substantial capital and
investor support before significant revenues. The risks of business failure
cannot be ignored. There is no assurance that we can attract the capital we
need, and no guaranty that even if we achieve our desired funding, and launch
operations, that our program will succeed. Even if successfully launched and
funded, there is no guaranty that our business will prove profitable over time,
or that new technologies will not obviate our program or impose on us additional
costs to re-tool or change or method of operation.
Investment in our corporation must be deemed highly speculative for the
present and indefinite future.
PART II: OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS. None
ITEM 2. CHANGE IN SECURITIES. None
ITEM 3. DEFAULTS UPON SENIOR SECURITIES. None
ITEM 4. SUBMISSION OF MATTERS TO VOTE OF SECURITY HOLDERS. None
ITEM 5. OTHER INFORMATION. None
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K. None
EXHIBIT INDEX
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Exhibit FINANCIAL STATEMENTS
--------------------------------------------------------------------------------
00-QF3 Un-Audited Financial Statements for the three months and nine months
ended September 30, 2000
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, this
Form 10-Q Report for the Quarter ended September 30, 2000, has been signed below
by the following person on behalf of the Registrant and in the capacity and on
the date indicated.
Dated: September 30, 2000
MAYSCOM, INC.
(formerly NNN-HUNTOR ASSOCIATES)
by
/s/Miller Mays III
Miller Mays III
sole officer and director
4
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EXHIBIT 00-QF3
UN-AUDITED FINANCIAL STATEMENTS
FOR THE THREE MONTHS AND NINE MONTHS ENDED
SEPTEMBER 30, 2000
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5
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MAYSCOM, INC.
BALANCE SHEETS (UNAUDITED)
For the fiscal year ended December 31, 1999
And the nine month period ended September 30, 2000
<TABLE>
<CAPTION>
<S> <C> <C>
September 30, December 31,
2,000 1999
(Unaudited)
-----------------------------------------------------------------------------
ASSETS
CURRENT ASSETS
Cash . . . . . . . . . . . . . . . . . . . . $ 8,612 $ 0
--------------- --------------
Total Current Assets . . . . . . . . . . . . 8,612 0
TOTAL ASSETS . . . . . . . . . . . . . . . . $ 8,612 $ 0
=============== ==============
LIABILITIES & STOCKHOLDERS' EQUITY
LIABILITIES
Accounts payable . . . . . . . . . . . . . . $ 2,376 $ 0
--------------- --------------
Total Accounts payable . . . . . . . . . . . 2,376 0
STOCKHOLDERS' EQUITY
Common Stock, $.001 par value; authorized
100,000,000 shares; issued and outstanding,
8,000,000 shares and 8,444,000 shares. . . . 8,444 8,000
Additional paid-in capital . . . . . . . . . 104,556 (6,000)
Accumulated Surplus (Deficit). . . . . . . . (106,764) (2,000)
--------------- --------------
Total Stockholders' Equity . . . . . . . . . 6,236 -0-
--------------- --------------
STOCKHOLDERS' EQUITY . . . . . . . . . . . . $ 8,612 $ 0
=============== ==============
</TABLE>
The accompanying notes are an integral part of these financial statements.
6
<PAGE>
MAYSCOM, INC.
STATEMENTS OF OPERATIONS (UNAUDITED)
September 30, 1999 and 2000
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
From
Inception
From July From July From January From January (June
1, 2000 to. 1, 1999 to 1, 2000 to 1, 1999 to 13, 1990) to
September 30, September 30, September 30, September 30, September 30,
2000 1999 2000 1999 2000
--------------------------------------------------------------------------------------------------------
Revenues. . . . . . . . . $ 1,000 $ 0 $ 1,750 $ 0 $ 1,750
-------------- -------------- ------------- -------------- -----------
Net Loss from Operations. 16,178 0 106,514 0 108,514
============== ============== =============== ============== ===========
Net Income (Loss) . . . . ($15,178) $ 0 ($104,764) $ 0 ($106,764)
============== ============== =============== ============== ===========
Loss per Share. . . . . . $ (0.00185) $ (0.00000) $ (0.01277) $ (0.00000) $ (0.01333)
============== ============== =============== ============== ===========
Weighted Average
Shares Outstanding. . 8,213,508 8,000,000 8,201,845 8,000,000 8,010,829
============== ============== =============== ============== ===========
</TABLE>
The accompanying notes are an integral part of these financial statements.
7
<PAGE>
MAYSCOM, INC.
STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT)
For the period from inception (June 13, 1990) through December 31, 1990,
And for the years ended December 31, 1991 through December 31, 1999
And the nine month period ended September 30, 2000
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
Common Stock Additional Accumulated Total Stock-
Number of Par Paid-In Surplus holders' Equity
Shares Value Capital (Deficit) (Deficit)
----------------------------------------------------------------------------------------------------------
Inception (June 13, 1990) . . -0- $ 0 $ 0 $ 0 $ 0
Inception through December
31, 1990: Stock issued for
cash and services . . . . . . 8,000,000 8,000 (6,000) (220) 1,780
Year ended December 31, 1991. -0- -0- -0- (400) 1,380
Year ended December 31, 1992. -0- -0- -0- (400) 980
Year ended December 31, 1993. -0- -0- -0- (400) 580
Year ended December 31, 1994. -0- -0- -0- (400) 180
Year ended December 31, 1995. -0- -0- -0- (180) -0-
Year ended December 31, 1996. -0- -0- -0- -0- -0-
Year ended December 31, 1997. -0- -0- -0- -0- -0-
Year ended December 31, 1998. -0- -0- -0- -0- -0-
Year ended December 31, 1999. -0- -0- -0- -0- -0-
Sale of Common stock for
cash @ $.25 per share . . 444,000 444 110,556 0 0
Net loss during period ended
September 30, 2000. . . . 0 0 0 (104,764) 0
----------------------------------------------------------------------------------------------------------
Balances, September 30, 2000. 8,444,000 $ 8,444 $ 104,556 ($106,764) $ 6,236
==========================================================================================================
</TABLE>
The accompanying notes are an integral part of these financial statements.
8
<PAGE>
MAYSCOM, INC.
STATEMENTS OF CASH FLOW (UNAUDITED)
For the nine month periods ended September 30, 1999 and 2000
<TABLE>
<CAPTION>
<S> <C> <C> <C>
June 13, 1990
(inception)
September 30, to September 30,
2000 1999 2000
----------------------------------------------------------------------------------
Operating Activities
Net Income (Loss) . . . . . . . . ($104,764) -0- ($106,764)
Items not affecting cash:
increase in accounts payable. 2,376 -0- 2,376
-------------- ---------------- ------------
Total working capital (used). . . (102,388) -0- (106,764)
-------------- ---------------- ------------
Increase (Decrease) in
working capital . . . . . . . . . ($102,388) -0- ($106,764)
-------------- ---------------- ------------
Cash flows from financing
activities; sale of common stock. 111,000 0 113,000
Net increase (decrease) in cash . $ 8,612 -0- $ 8,612
-------------- ---------------- ------------
Cash at Beginning of Period . . . -0- -0- -0-
Cash at End of Period . . . . . . $ 8,612 $ 0 $ 8,612
============== ================ ===========
</TABLE>
The accompanying notes are an integral part of these financial statements.
9
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MAYSCOM, INC.
(a Development Stage Company)
Notes to The Financial Statements
December 31, 1999 and the periods ended September 30, 1999 and 2000
NOTES TO FINANCIAL STATEMENTS
Mayscom, Inc., ("the Company") has elected to omit substantially all footnotes
to the financial statements for the nine months ended September 30, 2000, since
there have been no material changes (other than indicated in other footnotes) to
the information previously reported by the Company in their Annual Report filed
on Form 10-KSB for the Fiscal year ended December 31, 1999.
UNAUDITED INFORMATION
The information furnished herein was taken from the books and records of the
Company without audit. However, such information reflects all adjustments which
are, in the opinion of management, necessary to properly reflect the results of
the period presented. The information presented is not necessarily indicative
of the results from operations expected for the full fiscal year.
10
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