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 October 31, 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.
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0-30499
CHIROPRACTIC 21 INTERNATIONAL, INC.
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(Name of Small Business Issuer in its Charter)
NEVADA 84-0911532
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(State or Other Jurisdiction of (I.R.S. Employer I.D. No.)
incorporation or organization)
5525 South 900 East, Suite 110
Salt Lake City, Utah 84117
(Address of Principal Executive Offices)
Issuer's Telephone Number: (801)262-8844
N/A
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(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
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<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:
November 9, 2000
1,398,208
DOCUMENTS INCORPORATED BY REFERENCE
A description of any "Documents Incorporated by Reference" is contained in
Item 6 of this Report.
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.
<PAGE>
<TABLE>
<CAPTION>
CHIROPRACTIC 21 INTERNATIONAL, INC.
BALANCE SHEETS
October 31, 2000 and April 30, 2000
10/31/2000 04/30/2000
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[Unaudited]
ASSETS
<S> <C> <C>
Assets $ 0 $ 0
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Total Assets $ 0 $ 0
============== ==============
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities:
Loans from stockholders $ 7,511 $ 5,165
Accounts Payable 0 0
Income Taxes Payable 0 0
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Total Current Liabilities 7,511 5,165
Total Liabilities 7,511 5,165
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Stockholders' Deficit:
Common Stock, $.004 par value;
authorized 75,000,000 shares; issued and
outstanding, 1,398,208 shares 5,593 5,593
Paid-in Capital 958,923 958,923
Deficit accumulated prior to the development stage (938,764) (938,764)
Deficit accumulated during the development stage (33,263) (30,917)
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Total Stockholders' Deficit (7,511) (5,165)
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Total Liabilities and Stockholders' Deficit $ 0 $ 0
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</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CHIROPRACTIC 21 INTERNATIONAL, INC.
STATEMENTS OF OPERATIONS
For the Three Month and Six Month Periods Ended October 31, 2000, 1999 and
for the Period from Reactivation [December 15, 1998] through October 31, 2000
Three Three Six Six From the
Months Months Months Months Beginning of
Ended Ended Ended Ended Reactivation
through
10/31/2000 10/31/1999 10/31/2000 10/31/1999 10/31/2000
---------- ---------- ---------- ---------- ----------------
[Unaudited] [Unaudited] [Unaudited] [Unaudited] [Unaudited]
REVENUE
<S> <C> <C> <C> <C> <C>
Income $ 0 $ 0 $ 0 $ 0 $ 0
---------- ---------- ---------- ---------- ----------------
NET REVENUE 0 0 0 0 0
Operating Expenses
General and Administrative $ 1,815 $ 27,640 $ 2,346 $ 28,183 $ 33,263
Expenses
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Total Operating Expenses 1,815 27,640 2,346 28,183 33,263
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Net Income Before Taxes $ (1,815)$ (27,640)$ (2,346)$ (28,183)$ (33,263)
========== ========== ========== ========== ================
Income/Franchise taxes 0 0 0 0 0
Net loss (1,815) (27,640) (2,346) (28,183) (33,263)
Loss Per Share $ (0.01)$ (0.01)$ (0.01)$ (0.01)$ (0.01)
========== ========== ========== ========== ================
Weighted Average Shares Outstanding 1,398,208 6,159,732 1,398,208 6,159,735 1,145,595
========== ========== ========== ========== ================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CHIROPRACTIC 21 INTERNATIONAL, INC.
STATEMENTS OF CASH FLOWS
For the Three Month and Six Month Periods Ended October 31, 2000, 1999 and
for the Period from Reactivation [December 15, 1998] through October 31, 2000
Three Three Six Six From the
Months Months Months Months Beginning of
Ended Ended Ended Ended Reactivation
through
10/31/2000 10/31/1999 10/31/2000 10/31/1999 10/31/2000
---------- ---------- ---------- --------- ---------------
[Unaudited] [Unaudited] [Unaudited] [Unaudited] [Unaudited]
Cash Flows Used For Operating Activities
-----------------------------------------------
<S> <C> <C> <C> <C> <C>
Net Loss $ (1,815) $ (27,640) $ (2,346) $ (28,183)$ (33,263)
Adjustments to reconcile net loss to net cash
used in operating activities:
Issued stock for forgiveness of debt 0 0 0 552
Issued stock for services 25,200 25,200 25,200
Increase/(Decrease) in loans from 1,815 2,440 2,346 2,983 7,511
shareholder
---------- ---------- ---------- --------- ---------------
Net Cash Used For Operating 0 0 0 0 0
Activities
========== ========== ========== ========= ===============
Cash Flows Provided by Financing 0 0 0 0 0
Activities
-------------------------------------
Net Increase In Cash 0 0 0 0 0
Beginning Cash Balance 0 0 0 0 0
Ending Cash Balance $ 0$ 0$ 0$ 0$ 0
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</TABLE>
<PAGE>
NOTE TO FINANCIAL STATEMENTS: Interim financial statements reflect all
adjustments which are, in the opinion of management, necessary to a fair
statement of the results for the periods. The April 30, 2000 balance sheet has
been derived from the audited financial statements. These interim financial
statements conform with the requirements for interim financial statements and
consequently do not include all the disclosures normally required by generally
accepted accounting principles.
<PAGE>
Item 2.Management's Discussion and Analysis or Plan of Operation.
Plan of Operation.
The Company has not engaged in any material operations in the period ending
October 31, 2000, the Company has had no material business operations for over
ten years. The Company intends to continue to seek out the acquisition of
assets, property or business that may be beneficial to the Company and its
stockholders.
The Company's only foreseeable cash requirements during the next 12 months
will relate to maintaining the Company in good standing in the State of Nevada,
keeping its reports "current" with the Securities and Exchange Commission or the
payment of expenses associated with reviewing or investigating any potential
business venture. Management does not anticipate that the Company will have to
raise additional funds during the next 12 months, however, if additional moneys
are needed, they may be advanced by management or principal stockholders as
loans to the Company. Because the Company has not identified any such venture as
of the date of this Report, it is impossible to predict the amont of any such
loan. However, any such loan will not exceed $25,000 and will be on terms no
less favorable to the Company than would be available from a commercial lender
in an arm's length transaction. As of the date of this Report, the Company has
not begun seeking any acquisition.
Results of Operations.
The Company has had no operations during the quarterly period ended October
31, 2000, or since on or before approximately 1989. During the quarterly period
covered by this Report, the Company received no revenue and incurred expenses of
$1,815, stemming from general and administrative expenses.
Liquidity
At October 31, 2000, the Company had total current assets of $0 and total
liabilities of $7,511.
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.
CHIROPRACTIC 21 INTERNATIONAL, INC.
Date:11/22/00 /S/ VICKIE ROSENKRANTZ
Vickie Rosenkrantz, Secretary and Director
