SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16 OF
THE SECURITIES AND EXCHANGE ACT OF 1934
For the quarter ended September 30, 2000
AYOTTE MUSIC INC. 000-30683
----------------------------------------------- --------------------------
(Translation of Registrant's name into English) SEC File No.
2060 Pine Street, Vancouver, BC, Canada V6J 4P8
--------------------------------------------------------------------------------
(Address of principal executive offices)
[Indicate by check mark whether the Registrant files or will file annual reports
under cover of forms 20-F or Form 40-F.]
Form 20-F X Form 40-F
------- --------
[Indicate by check mark whether the Registrant by furnishing the information
contained in this form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act 1934.]
Yes No X
-------- -------
1
<PAGE>
AYOTTE MUSIC INC. OCTOBER 6, 2000
TO THE SHAREHOLDERS:
Ayotte Music Inc. successfully completed the re-design of a "new" e-commerce
website that went "live" on September 1st, 2000. The new site offers a number of
features to greatly improve the on- line experience.
Ayotte, in conjunction with Rethink Advertising have successfully completed a
new print advertising campaign which is scheduled to roll-out in the North
American market in late August, 2000 and in the European market in late October,
2000.
Ayotte has completed the process of registering its common stock with the U.S.
Securities and Exchange Commission (SEC) on Form 20-F. This will allow Ayotte to
register its common stock for trading in the US Equity markets.
Management is continuing to actively seek out other web-based businesses to
merge into the company.
Management is also actively searching for new products to add to the website for
sale directly to consumers.
Sincerely,
/s/ Louis Eisman
Acting President and CEO
2
<PAGE>
AYOTTE MUSIC INC.
Balance Sheet
August 31, 2000
--------------------------------------------------------------------------------
2000 1999
--------------------------------------------------------------------------------
ASSETS
CURRENT
Cash and term deposits $ 842,620 $ 105,090
Accounts receivable 95,808 457,484
Inventories 271,284 356,884
Prepaid expenses 29,748 10,855
--------------------------------------------------------------------------------
1,239,460 930,313
--------------------------------------------------------------------------------
CAPITAL 220,140 270,091
PATENT 1,016 1,016
--------------------------------------------------------------------------------
$ 1,460,616 $ 1,201,420
================================================================================
LIABILITIES
CURRENT
Accounts payable and accrued liabilities $ 115,556 $ 334,823
OBLIGATIONS UNDER CAPITAL LEASES -- 18,453
--------------------------------------------------------------------------------
115,556 353,276
--------------------------------------------------------------------------------
SHAREHOLDERS' EQUITY
SHARE CAPITAL 3,019,737 2,525,737
DEFICIT (1,674,677) (1,677,593)
--------------------------------------------------------------------------------
1,345,060 848,144
--------------------------------------------------------------------------------
$ 1,460,616 $ 1,201,420
================================================================================
3
<PAGE>
AYOTTE MUSIC INC.
Statement of Operations and Deficit
Second Quarter ended August 31, 2000
--------------------------------------------------------------------------------
2000 1999
--------------------------------------------------------------------------------
SALES $ 681,974 $ 1,107,182
COST OF GOODS SOLD 392,295 833,835
--------------------------------------------------------------------------------
GROSS MARGIN 289,679 273,347
--------------------------------------------------------------------------------
EXPENSES
Advertising and promotion 35,834 147,214
Amortization 30,000 29,953
Auto 422 873
Bad debts 800 63,943
Bank charges and interest 17,058 11,714
Computer 3,480 3,559
Insurance 7,508 10,204
Internet and Website 10,275 --
Legal and accounting 16,860 32,725
Management fees 24,000 24,000
Office 6,228 16,980
Rent 4,083 55,096
Repairs and maintenance 1,900 2,146
Salaries and employee benefits 101,185 166,062
Telephone and fax 11,927 7,932
Utilities 1,303 11,762
*One Time Corporate expenses 89,411 --
--------------------------------------------------------------------------------
362,274 584,163
--------------------------------------------------------------------------------
INCOME (LOSS) FROM OPERATIONS (310,816) (72,595)
OTHER
Expense recovery 44,049 --
Other income 2,137 406
Gain (loss) on foreign exchange 6,312 (2,068)
--------------------------------------------------------------------------------
NET INCOME (LOSS) FOR THE PERIOD (20,097) (312,478)
DEFICIT, beginning of period (1,654,580)
--------------------------------------------------------------------------------
DEFICIT, end of period $(1,674,677) $(1,677,593
================================================================================
Note:*Corporate Expenses are those expenses that relate to the SEC listing and
the search for other web based businesses.
4
<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.
AYOTTE MUSIC INC.
(Registrant)
Date: October 10, 2000 By: /s/ Don Mazankowski
-----------------------------------
General Manager
5
