U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10Q-SB/A
General Form for Registration of Securities
of Small Business Issuers
Under Section 12(b) or (g) of
the Securities Exchange Act of 1934
BRAZILIAN-INDIO SERVICES.COM, INC.
(Name of Small Business Issuer)
Oregon 93-1281442
----------------------------- -------------------------------------
(State or Other Jurisdiction of I.R.S. Employer Identification Number
Incorporation or Organization)
7410 S.W. Oleson Rd., Ste. 325, Portland, OR 97223
(Address of Principal Executive Offices including Zip Code)
503/641-2105
(Issuer's Telephone Number)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2000
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
Indicate the number of shares outstanding of each of the registrant's classes of
common stock, as of the latest practicable date.
Class Outstanding as of June 30, 2000
----------------------------- -----------------------------------
$.001 PAR VALUE CLASS A 5,000,000 SHARES
COMMON STOCK
<PAGE>
TABLE OF CONTENTS
PART 1 3
ITEM 1. FINANCIAL STATEMENTS 9
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION 9
ITEM 3. EVENTS SUBSEQUENT TO THE SECOND QUARTER 9
ITEM 4. RESULTS OF OPERATIONS 9
PART II
ITEM 1. LEGAL PROCEEDINGS 9
ITEM 2. CHANGES IN SECURITIES 9
ITEM 3. DEFAULTS UPON SENIOR SECURITIES 9
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS 9
ITEM 5. OTHER INFORMATION 10
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K 10
SIGNATURES 11
INDEX TO EXHIBITS 11
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PART 1. FINANCIAL INFORMATION
Item 1. Unaudited Financial Statement.
The accompanying unaudited financial statements, set forth herein under
Part II as an Exhibit, have been prepared by management in accordance with the
instructions to Form 10-Q and, therefore, do not include all information and
footnotes necessary for a complete presentation of financial position, results
of operations, cash flows and stockholders' equity in conformity with generally
accepted accounting principles. In the opinion of management, all adjustments
considered necessary for a fair presentation of the results of operations and
financial position have been included and all such adjustments are of a normal
recurring nature. Operating results for the quarter ended June 30, 2000, are
not necessarily indicative of the results that can be expected for the year
ending June 30, 2000.
BRAZILIAN-INDIO SERVICES.COM, INC.
(A DEVELOPMENT STAGE COMPANY)
FINANCIAL STATEMENTS
June 30, 2000
C O N T E N T S
Balance Sheet F-1
Statements of Operations F-2
Statement of Stockholders' Equity F-3
Statement of Cash Flows F-4
Notes to Unaudited Financial Statements F-5
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<TABLE>
<CAPTION>
BRAZILIAN-INDIO SERVICES.COM, INC.
(A Development Stage Company)
Balance Sheet
(Unaudited)
ASSETS
<S> <C>
CURRENT ASSETS
Cash held by related party $ 109,862.00
Total Current Assets $ 109,862.00
TOTAL ASSETS $ 109,862.00
-------------
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Payable to Shareholders $ 109,862.00
Total Current Liabilities $ 109,862.00
STOCKHOLDERS' EQUITY
Preferred stock
0.001 par value, 5,000,000 shares authorized;
-0- shares issued and outstanding
Common stock, $0.001 par value, 50,000,000 shares authorized;
5,000,000 shares issued and outstanding 5,000
Deficit accumulated during the development stage (4,500)
Total Stockholders' Equity 500
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 109,862.00
===========
</TABLE>
See accompanying notes to unaudited financial statements.
F-1
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<TABLE>
<CAPTION>
BRAZILIAN-INDIO SERVICES.COM, INC.
(A Development Stage Company)
Statements of Operations
(Unaudited)
From Inception
For the three For the Six on October 5,
Months ended Months Ended 1999, through
June 30, 2000 June 30, 2000 June 30, 2000
<S> <C> <C> <C>
REVENUES $ - $ - $ -
EXPENSES - - 4,500.00
General and administrative
Total Expenses - - 4,500.00
(LOSS) FROM OPERATIONS - - ($4,500.00)
INCOME TAX EXPENSE - - -
NET(LOSS) $ - $ - ($4,500.00)
-------------------- ==============
BASIC (LOSS) PER SHARE$ $ - $ - $ 0.00
-------------------- --------------- ==============
</TABLE>
See accompanying notes to unaudited financial statements.
F-2
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<TABLE>
<CAPTION>
BRAZILIAN-INDIO SERVICES.COM, INC.
(A Development Stage Company)
Statement of Stockholders' Equity
(Unaudited)
Deficit
Accumulated
During the
Preferred Stock Common Stock Development
Shares Amount Shares Amount Stage
<S> <C> <C> <C> <C> <C>
Balance at inception on
October 5, 1999 $ - $ - $ - $ - $ -
Issuance of common capital stock
for cash, services and expenses
paid on behalf of the Company
at $0.001 per share -
October 6, 1999 $ - $ - $5,000,000 $5,000 $ -
Net loss from inception on
October 5, 1999 through
December 31, 1999 $ - $ - $ - $ - $(4,500)
----- ----- ----- ----- -------
Balance, December 31, 1999 $ - $ - $5,000,000 $5,000 $(4,500)
Year 2000 Activity $ - $ - $ - $ - $ -
Balance, June 30, 2000 $ - $ - $5,000,000 $5,000 $4,500
========== ====== ======
</TABLE>
See accompanying notes to unaudited financial statements.
F-3
<PAGE>
<TABLE>
<CAPTION>
BRAZILIAN-INDIO SERVICES.COM,INC.
(A Development Stage Company)
Statement of Cash Flows
(Unaudited)
From
Inception on
October 5,
1999 Through
June 30, 2000
<S> <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
Net(loss) $ (4,500)
Adjustments to reconcile net loss to net cash (used) by
operating activities:
Common stock issued for services and expenses paid
on behalf of the Company 4,500
Net Cash Provided (Used) by Operating Activities -
CASH FLOWS FROM INVESTING ACTIVITIES -
CASH FLOWS FROM FINANCING ACTIVITIES:
Common stock issued for cash 500
Net Cash Provided by Financing Activities 500
NET INCREASE IN CASH 500
CASH AT BEGINNING OF PERIOD -
CASH AT END OF PERIOD $ 500
========
CASH PAID FOR:
Interest expense $ -
Income taxes $ -
</TABLE>
See accompanying notes to unaudited financial statements.
F-4
<PAGE>
BRAZILIAN-INDIO SERVICES.COM, INC.
(A Development Stage Company)
Notes to the Unaudited Financial Statements
June 30, 2000
NOTE 1 - NATURE OF ORGANIZATION
The financial statements presented are those of Brazilian-Indio Services.com,
Inc. (a development stage company)(the Company). The Company was organized
under the laws of the State of Oregon on October 5, 1999. The Company was
organized to seek potential business opportunities or merge with an existing
operating company.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
a. Accounting Method
The Financial statements are prepared using the accrual method of
accounting. The Company has elected a December 31 year end.
b. Basic Loss Per Share
The computation of basic loss per share of common stock is based on the
weighted average number of shares outstanding during the period of the financial
statements.
c. Use of Estimates
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 revenues and expenses during the
reporting period. Actual results could differ from those estimates.
d. Unaudited Interim Financial Statements
The unaudited interim Financial Statements as of June 30, 2000 and for the
six months ended June 30, 2000 and 1999 have been prepared on the same
basis as the December 31, 1999 audited financial statements.
In the opinion, of management, such unaudited interim financial statements
include all adjustments (consisting only of normal recurring adjustments)
necessary to present fairly the results of such periods. The operating results
for the six months ended June 30, 2000 are not necessarily indicative of the
operating results to be expected for the full fiscal year or for any
future period.
NOTE 3 - GOING CONCERN
The Company's financial statements are prepared using 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 does not have any significant operations to
date, nor does it have an established source of revenues sufficient to allow it
to continue as a going concern. It is the intent of the Company to seek a
merger with an existing operating company. In the interim, the company's
officers, directors and major shareholders have made an oral undertaking to make
loans to the Company to meet its obligations.
F-5
<PAGE>
BRAZILIAN-INDIO SERVICES.COM, INC.
(A Development Stage Company)
Notes to the Financial Statements
(unaudited)
June 30, 2000
NOTE 4 - ISSUANCE OF STOCK
During October 1999, the Company issued 5,000,000 shares of its previously
authorized but unissued common stock for cash of $500, services of $4,450 and
expenses paid on behalf of the Company of $50 (or, $0.001 per share) to a
related party.
<PAGE>
Item 2. Management's Discussion and Analysis of Financial Condition and Results
of Operations.
The Company has had no operational history and has yet to engage in
business of any kind. All risks inherent in new and inexperienced enterprises
are inherent in the Company's business. The Company has not made a formal study
of the economic potential of any business. At the present, the Company has not
identified any assets or business opportunities for acquisition.
As of June 30, 2000, the Company has no available capital resources, and is
contemplating a variety of alternative initiatives. Should management decide
not to further pursue any of its options or opportunities, management may
abandon its activities and the shares of the Company would become worthless.
The Company's officers, directors and major shareholder have made an oral
undertaking to make loans to the Company in amounts sufficient to enable it to
satisfy its reporting requirements and other obligations incumbent on it as a
public company, and to commence, on a limited basis, the process of
investigating possible opportunities. The Company's status as a publicly-held
corporation may enhance its ability to locate potential business ventures. The
loans will be interest free and are intended to be repaid at a future date, if
or when the Company shall have received sufficient funds through any business
acquisition. The loans are intended to provide for the payment of filing fees,
printing and copying fees and other miscellaneous fees.
Based on current economic and regulatory conditions, Management believes
that it is possible, if not probable, for a company like the Company, with
assets or and no liabilities, to negotiate a variety of business options,
including but not limited to, merger or acquisition with a viable private
company. The opportunity arises principally because of the high legal and
accounting fees and the length of time associated with the registration process
of "going public". However, should any of these conditions change, it is very
possible that there would be little or no economic value for anyone
contemplating doing business with the Company.
Item 3. Events Subsequent to the First Quarter.
No events have occurred subsequent to the first quarter ending March 31,
2000.
Item 4. Results of Operations.
There were no gross revenues for the three month period ended June 30,
2000. Costs of revenues was $0 for the three month period ended June 30, 2000.
Item 5. Capital Resources and Liquidity.
During the second quarter of 2000, the Company did not issue any additional
shares.
PART II
ITEM 1. Legal Proceedings
None.
ITEM 2. Changes in Securities
None.
ITEM 3. Defaults upon Senior Securities
None.
ITEM 4. Submission of Matters to a Vote Security Holders
None.
ITEM 5. Other Information
None.
Item 6. Exhibits.
Exhibit 1, Financial Data Schedule
<PAGE>
SIGNATURES
In accordance with Section 12 of the Securities Exchange Act of 1934, the
Registrant caused this Registration Statement to be signed on its behalf by the
undersigned thereunto duly authorized this 18th day of August, 2000.
Brazilian-Indio Services.com, Inc.
By: /s/ Emiliano Lakota
_______________________________
President & Director
