UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-QSB
QUARTERLY REPORT FOR SMALL BUSINESS ISSUERS SUBJECT TO THE 1934
ACT REPORTING REQUIREMENTS
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2000
Commission File No. 000-29577
MELLONCAMP, INC.
(Exact name of registrant as specified in its charter)
Nevada 88-0386352
(State of organization) (I.R.S. Employer Identification No.)
2080 E. Flamingo Rd., Suite 112, Las Vegas, NV 89119
(Address of principal executive offices)
Registrant's telephone number, including area code (702) 650-5660
Check whether the issuer (1) filed all reports required to be
file by Section 13 or 15(d) of the Exchange Act during the past
12 months and (2) has been subject to such filing requirements
for the past 90 days. No X
There are 3,000,000 shares of common stock outstanding as of
September 30, 2000.
PART I - FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
INDEPENDENT AUDITORS' REPORT
Board of Directors October 20, 2000
Melloncamp, Inc.
Las Vegas, Nevada
We have compiled the accompanying balance sheets of Melloncamp,
Inc. as of September 30, 2000 and September 30, 1999, and the related
statements of income, changes in stockholders' equity and cash flows
for the nine months then ended, in accordance with the Statement of
Standards for Accounting and Review Services issued by the American
Institute of Certified Public Accountants.
A compilation is limited to presenting in the form of financial
statements information that is the representation of management. We
have not audited or reviewed the accompanying financial statements
and supplementary information, and, accordingly, do not express an
opinion or any other form of assurance on them.
As discussed in Note 1, the Company has been in the development
stage since its inception on February 19, 1998. Realization of the
major portion of its assets is dependent upon the Company's ability
to meet its future financing requirements, and the success of future
operations. The accompanying financial statements have been prepared
assuming that the Company will continue as a going concern.
The financial statements for the year ended December 31, 1999,
were audited by us and we expressed an unqualified opinion on the
statements in their report dated January 21, 2000. We have not
performed any auditing procedures since that date.
/s/ Michael L. Stuck,
Certified Public Accountant
Melloncamp, Inc.
(A Development Stage Company)
BALANCE SHEET
<TABLE>
<S> <C> <C>
Unaudited Audited
September 30, 2000 December 31, 1999
ASSETS
CURRENT ASSETS
Cash -0- -0-
PROPERTY AND EQUIPMENT -0- -0-
======== ========
-0- -0-
LIABILITIES AND STOCKHOLDERS'
EQUITY
CURRENT LIABILITIES
Loan payable -0- -0-
-------- --------
TOTAL CURRENT LIABILITIES -0- -0-
-------- --------
STOCKHOLDERS' EQUITY
Common stock, $.001 par value,
25,000,000 shares authorized,
3,000,000 shares issued and
outstanding 3,000 3,000
Preferred stock, $.001 par
value, 5,000,000 shares authorized,
no shares issued and
outstanding -0- -0-
Deficit accumulated during
development stage (3,000) (3,000)
TOTAL STOCKHOLDERS' EQUITY -0- -0-
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY -0- -0-
</TABLE>
The accompanying notes are an integral part of these financial
statements.
MELLONCAMP, INC.
(A Development Stage Company)
STATEMENT OF INCOME
<TABLE>
<S> <C> <C> <C> <C> <C> <C>
Unaudited Unaudited Unaudited Unaudited Audited February
Three Three Months Nine Months Nine Year Ended 19, 1998
Months Ended Ended Months December (inception)
Ended September September Ended 31, 1999 to
September 30, 1999 30, 2000 September September
30, 2000 30, 2000 30, 2000
REVENUE -0- -0- -0- -0- -0- -0-
COST OF SALES -0- -0- -0- -0- -0- -0-
--------- --------- --------- -------- --------- --------
GROSS PROFIT -0- -0- -0- -0- -0- -0-
OPERATING EXPENSES
Filing Fees -0- -0- -0- -0- -0- 300
Professional Fees -0- -0- -0- -0- -0- 2,700
--------- --------- --------- -------- --------- --------
-0- -0- -0- -0- -0- 3,000
--------- --------- --------- -------- --------- --------
NET INCOME (LOSS)
BEFORE INCOME TAXES (-0-) (-0-) (-0-) (-0-) (-0-) (3,000)
INCOME TAXES -0- -0- -0- -0- -0- -0-
--------- --------- --------- -------- --------- --------
NET INCOME (LOSS) (-0-) (-0-) (-0-) (-0-) (-0-) (3,000)
========= ========= ========= ======== ========= ========
EARNINGS PER SHARE
OF COMMON STOCK -0- -0- -0- -0- -0-
WEIGHTED AVERAGE
NUMBERS OF SHARES
OUTSTANDING 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000
</TABLE>
The accompanying notes are an integral part of these financial statements.
MELLONCAMP, INC.
(A Development Stage Company)
STATEMENT OF STOCKHOLDERS' EQUITY
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C>
Deficit
Accumulated
During
Preferred Stock Common Stock Paid in Development
Stock Amount Stock Amount Capital Stage Total
Balance February 19,
1998 -0- -0- -0- -0- -0- -0- -0-
Stock Issued -0- -0- 3,000,000 3,000 -0- -0- 3,000
Retained Earnings
(Loss) -0- -0- -0- -0- -0- (3,000) (3,000)
------ ------ --------- ------ ------ ------- -------
Balance December 31,
1998 -0- -0- 3,000,000 3,000 -0- (3,000) -0-
Retained Earnings
(Loss) -0- -0- -0- -0- -0- -0- -0-
------ ------ --------- ------ ------ ------- -------
Balance December 31,
1999 -0- -0- 3,000,000 3,000 -0- (3,000) -0-
Retained Earnings
(Loss) -0- -0- -0- -0- -0- -0- -0-
------ ------ -------- ------ ------ ------- -------
Balance September
30, 2000 -0- -0- 3,000,000 3,000 -0- (3,000) -0-
</TABLE>
The accompanying notes are an integral part of these financial statements.
MELLONCAMP, INC.
(A Development Stage Company)
STATEMENT OF CASH FLOWS
For the Nine Months Ended September 30, 2000 and September 30, 1999
the Year Ended December 31, 1999
and the Period February 19, 1998 (inception) to September 30, 2000
<TABLE>
<S> <C> <C> <C> <C> <C> <C>
Unaudited Unaudited Unaudited Unaudited Audited February
Three Three Nine Months Nine Months Year Ended 19, 1998
Months Months Ended Ended December (inception)
Ended Ended September September 31, 1999 to
September September 30, 2000 30, 1999 September
30, 2000 30, 2000 30, 2000
Net Income/(Loss) -0- -0- -0- -0- -0- $(3,000)
Adjustments to
reconcile net income
to net cash provided
by operating
activities: -0- -0- -0- -0- -0- -0-
Cash From Operations -0- -0- -0- -0- -0- (3,000)
Cash From Investing
Activities -0- -0- -0- -0- -0- -0-
Cash From Financing
Activities
Stock Issued -0- -0- -0- -0- -0- 3,000
Net Increase in Cash -0- -0- -0- -0- -0- -0-
Beginning Cash
Balance -0- -0- -0- -0- -0- -0-
Ending Cash Balance -0- -0- -0- -0- -0- -0-
</TABLE>
The accompanying notes are an integral part of these financial statements.
MELLONCAMP, INC.
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
September 30, 2000, December 31, 1999 and September 30, 1999
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Description of Operations
The Company was organized under the laws of the State of Nevada in
1998 and is authorized to do business in the United State. The
Company has no revenue from operations during the period covered
by this financial statement.
Method of Accounting
These financial statements are prepared on the accrual basis of
accounting in accordance with generally accepted accounting
principles. Consequently, revenues are recognized when earned
and expenses are recognized when the obligation is actually
incurred.
Income Taxes and Cash Flows
The Company accounts for income taxes and the statement of cash
flows in accordance with Financial Accounting Standards Board
Statement No. 109 and No. 95.
Cash and Cash Equivalents
Cash and cash equivalents include all highly liquid investments
with a maturity of three months or less when purchased.
NOTE 2: CASH
The Company has no bank accounts at this time.
NOTE 3 - EARNINGS PER SHARE
Earnings per share has been computed by dividing net income/(loss)
by the weighted average number of common shares outstanding for
the period. There are no items which are deemed to be common
stock equivalents during the audit period.
NOTE 4: COMMON STOCK
As of September 30, 2000, December 31, 1999 and September 30, 1999,
the Company had 3,000,000 shares of common stock, par value
$.001, issued and outstanding.
NOTE 5: LEASE COMMITMENTS
The Company currently has no commitments for leases or
contingences.
NOTE 6: USE OF ESTIMATES
The preparation of financial statements in conformity with
Generally Accepted Accounting Principles requires management to
make estimates and assumptions that affect certain reported
amounts and disclosures. Accordingly, actual results could
differ from these estimates.
ITEM 2. MANAGEMENT'S PLAN OF OPERATION
NOTE REGARDING PROJECTIONS AND FORWARD LOOKING STATEMENTS
This statement includes projections of future results and
"forward-looking statements" as that term is defined in Section
27A of the Securities Act of 1933 as amended (the "Securities
Act"), and Section 21E of the Securities Exchange Act of 1934 as
amended (the "Exchange Act"). All statements that are included in
this Registration Statement, other than statements of historical
fact, are forward-looking statements. Although Management
believes that the expectations reflected in these forward-looking
statements are reasonable, it can give no assurance that such
expectations will prove to have been correct. Important factors
that could cause actual results to differ materially from the
expectations are disclosed in this Statement, including, without
limitation, those expectations reflected in forward-looking
statements contained in this Statement.
Plan of Operation
The Company's Plan of Operation has not changed since the filing
of its amended Form 10-SB filed with the SEC on March 1, 2000.
The description of the current plan of operation is incorporated
by reference to Section 2 of its Form 10-SB.
Competition
The Company is an insignificant participant among firms which
engage in business combinations with, or financing of,
development-stage enterprises. There are many established
management and financial consulting companies and venture capital
firms which have significantly greater financial and personal
resources, technical expertise and experience than the Company.
In view of the Company's limited financial resources and
management availability, the Company will continue to be at
significant competitive disadvantage vis-a-vis the Company's
competitors.
Employees
The Company's only employees at the present time are its officers
and directors, who will devote as much time as the Board of
Directors determine is necessary to carry out the affairs of the
Company.
Current Developments
On September 28, 2000, the Company filed a Certificate of
Amendment to increase the number of authorized shares to
100,000,000 shares of common stock and 10,000,000 shares of
preferred stock each with a par value of $0.001.
PART II - OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
The Company is not a party to any material pending legal
proceedings and, to the best of its knowledge, no such action has
been threatened by or against the Company.
ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS
No issues of securities and no changes in the existing securities
took place during the period covered by this report. At the end
of the quarter there were 3,000,000 shares of common stock
outstanding.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
No such matters were submitted during the most recent quarter.
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
EXHIBITS
a) The exhibit consisting of the Company's Articles of
Incorporation is attached to the Company's Amended Form 10-SB,
filed on March 1, 2000. This exhibit is incorporated by reference
to that Form.
b) The exhibit consisting of the Company's Bylaws is attached
to the Company's Amended Form 10-SB, filed on March 1, 2000. This
exhibit is incorporated by reference to that Form.
Reports on Form 8-K: None
27 Financial Data Schedule
SIGNATURES
Pursuant to the requirements of Section 12 of the Securities
Exchange Act of 1934, the Registrant has duly caused this
registration statement to be signed on its behalf by the
undersigned, thereunto duly authorized.
Melloncamp, Inc.
By: /s/ Kenneth D. Greble
Kenneth D. Greble, President
Date: October 31, 2000
