|
|
|
|
|
|
|
|
|
|
|
|
|
|
Previous: ORDERPRO LOGISTICS INC, 10QSB, 2000-11-20 |
Next: DOMESTIC FUNDINGS INC, 10QSB, EX-27, 2000-11-20 |
FORM 10Q-SB
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
QUARTERLY REPORT UNDER SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the Three Months Ended Commission File Number
September 30, 2000 0-30873
DOMESTIC FUNDINGS, INC.
(Exact Name of Registrant as Specified in its Charter)
DELAWARE 11-3522227
(State of Other Jurisdiction of I.R.S. Employer
Incorporation or Organization) Identification No.
1040 East 22nd Street, Brooklyn, NY 11210
(Address of Principal Executive Offices) Zip Code
Registrant's Telephone Number, Including Area Code (718) 692-2743
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for 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. Yes [X] No [_]
APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDINGS DURING THE PRECEDING FIVE YEARS:
Indicate by check mark whether the issuer has filed all documents and reports
required to be filed by Sections 2, 13 or 15(d) of the Securities Act of 1934
subsequent to the distribution of securities under a plan confirmed by a court.
Yes [_] No [_]
APPLICABLE ONLY TO CORPORATE ISSUERS:
Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.
Common Stock $.0001 par value, 5,000,000
(Title of Class) (Shares outstanding at
September 30, 2000)
<PAGE>
DOMESTIC FUNDINGS, INC.
FORM 10Q-SB
THREE MONTHS ENDED SEPTEMBER 30, 2000
INDEX
Page
PART I FINANCIAL INFORMATION
ITEM 1 Balance Sheet, September 30, 2000 2
Statement of Operations
September 30, 2000 3
Statement of Stockholders' Equity
for the period ended September 30,
2000 4
Statement of Cash Flows
September 30, 2000 5
Notes to Financial Statements 6
Management's Discussion and
Analysis of Results of Operations 7
PART II Other Information - Items 1-6 8
Signatures 9
<PAGE>
DOMESTIC FUNDINGS, INC.
(A development stage company)
BALANCE SHEET
<TABLE>
<CAPTION>
SEPTEMBER DECEMBER
30, 2000 31, 1999
------ ------
<S> <C> <C>
CURRENT ASSETS
CASH $ 464 $1,500
----- ------
TOTAL CURRENT ASSETS 464 1,500
----- ------
OTHER ASSETS
ORGANIZATION COSTS-NET 340 400
----- ------
TOTAL OTHER ASSETS 340 400
----- ------
TOTAL ASSETS $ 804 $1,900
===== ======
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
ACCRUED EXPENSES $ 400 $ 400
----- ------
TOTAL CURRENT LIABILITIES 400 400
----- ------
STOCKHOLDERS' EQUITY
COMMON STOCK, PAR VALUE $.0001;AUTHORIZED 50,000,000 SHARES,
ISSUED AND OUTSTANDING 5,000,000 500 500
----- ------
PREFERRED STOCK, PAR VALUE $.0001; AUTHORIZED
10,000,000 SHARES, NONE ISSUED AND OUTSTANDING 0
ADDITIONAL PAID IN CAPITAL 412 1,000
ACCUMULATED DEFICIT (508) 0
----- ------
TOTAL STOCKHOLDERS' EQUITY 404 1,500
----- ------
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY $ 804 $1,900
===== ======
</TABLE>
<PAGE>
DOMESTIC FUNDINGS, INC.
(A development stage company)
STATEMENT OF OPERATIONS
<TABLE>
<CAPTION>
FOR THE THREE FOR THE THREE FOR THE NINE FOR THE NINE
MONTHS MONTHS MONTHS ENDED MONTHS ENDED
SEPTEMBER SEPTEMBER SEPTEMBER SEPTEMBER
30, 2000 30, 1999 31, 2000 30, 1999
----------- ----------- ----------- -----------
<S> <C> <C> <C> <C>
REVENUES $0 $0 $0 $0
GENERAL AND OPERATING EXPENSES 448 0 0 0
AMORTIZATION 60 0 0 0
--------- --------- --------- ---------
TOTAL EXPENSES 508 0 0 0
--------- --------- --------- ---------
NET LOSS ($508) $0 $0 $0
--------- --------- --------- ---------
LOSS PER SHARE $-0.00 $-0.00 $-0.00 $-0.00
========= ========= ========= =========
WEIGHTED NUMBER OF SHARES OUTSTANDING 5,000,000 5,000,000 5,000,000 5,000,000
========= ========= ========= =========
</TABLE>
<PAGE>
DOMESTIC FUNDINGS, INC.
(A development stage company)
STATEMENT OF STOCKHOLDERS EQUITY
<TABLE>
<CAPTION>
STOCK ADDITIONAL
COMMON ISSUED ACCUMULATED PAID IN
SHARES AMOUNT DEFICIT CAPITAL TOTAL
<S> <C> <C> <C> <C> <C>
ISSUANCE OF SHARES ON DECEMBER 19, 1997
AT PAR VALUE $.0001 PER SHARE FOR CASH 5,000,000 $500 $1,000 $1,500
--------- ---- ------ ------
TOTAL STOCKHOLDERS' EQUITY DECEMBER 31, 1999 5,000,000 500 1,000 $1,500
NET LOSS FOR THE PERIOD ENDED SEPTEMBER 30, 2000 ($508) ($508)
DEFERRED OFFERING COSTS CHARGED AGAINST
ADDITIONAL PAID IN CAPITAL ($588) ($588)
--------- ---- ----- ------ ------
TOTAL STOCKHOLDERS' EQUITY DECEMBER 31, 1999 5,000,000 $500 ($508) $ 412 $ 404
========= ==== ===== ====== ======
</TABLE>
<PAGE>
DOMESTIC FUNDINGS, INC.
(A development stage company)
STATEMENT OF CASH FLOWS
<TABLE>
<CAPTION>
FOR PERIOD FOR PERIOD
ENDED ENDED
SEPTEMBER 30, SEPTEMBER 30,
2000 1999
------------- -------------
<S> <C> <C>
Cash flows from operating activities
Net loss ($508) $0
Adjustments to reconcile net loss to net
cash provided by operating activities:
Amortization 60 0
Changes in assets and liabilities:
accrued expenses
security deposit
deferred offering costs (588) 0
------- ------
Net cash used in operating activities (1,036) 0
------- ------
Cash flows from investing activities
Purchase of fixed assets 0 0
------- ------
Net cash used in financing activities 0 0
------- ------
Cash flows from financing activities
Proceeds from sale of shares 0 0
------- ------
Net cash provided by financing activities 0 0
------- ------
Net decrease in cash and cash equivalents ($1,036) $0
------- ------
Cash and cash equivalents, beginning of period $ 1,500 $1,500
------- ------
Cash and cash equivalents, end of period $464 $1,500
======= ======
</TABLE>
<PAGE>
(1) Basis of presentation
The accompanying unaudited financial statements have been prepared in accordance
with generally accepted accounting principles for interim financial information
and the instructions to Form 10-QSB. Accordingly, they do not include all of the
information and footnotes required by generally accepted accounting principles
for complete financial statements. In the opinion of management, all adjustments
(consisting of only normal recurring accruals) considered necessary for a fair
presentation of the Company's financial position at September 30, 2000, the
results of operations for the three and nine months ended September 30, 2000 and
September 30, 1999, and the cash flows for the nine months ended September 30,
2000 and September 30, 2000 are included. Operating results for the three and
nine month period ended September 30, 1999 are not necessarily indicative of the
results that may be expected for the year ending December 31, 2000
The information contained in this Form 10-QSB should be read in conjunction with
audited financial statements as of December 31, 1999 filed as part of the
Company's Annual Report on Form 10-KSB.
<PAGE>
STATESIDE FUNDINGS, INC.
MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS
September 30, 2000
At September 30, 2000, the Company's current assets amounted to $464, while
current liabilities amounted to $400.
PART II OTHER INFORMATION
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 of Securities Holders - None
Item 5 Other Information - None
Item 6 Exhibits and Reports on Form 8-K - None
<PAGE>
SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
DOMESTIC FUNDINGS, INC.
By: /s/ Nachum Blumenfrucht
-------------------------------
Nachum Blumenfrucht
President, Secretary-Treasurer
and Director
Date: November 17, 2000
|
|