U. S. SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
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FORM 10-QSB
(Mark One)
[X] Quarterly Report Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2000
Or
[ ] Transition Report Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
For the transition period from ________ to ________
0-31071
Commission File Number
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LAPTA ACQUISITION CORPORATION VIII
(Exact name of small business issuer as specified in its charter)
NEVADA 91-2056347
(State of Incorporation) (IRS Employer Identification No.)
1800 CENTURY PARK EAST, SUITE 600, LOS ANGELES, CA 90067
(Address of Principal Executive Offices)
Registrant's telephone number, including area code: (310) 229-5722
Check whether the issuer (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 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.
Yes X No
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As of November 12, 2000, the registrant had outstanding 5,000,000 shares of
its Common Stock, $.0001 par value.
<PAGE>
LAPTA ACQUISITION CORPORATION VIII
FORM 10-QSB REPORT INDEX
PAGE NO.
PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS (UNAUDITED)
Consolidated Balance Sheet as of September 30, 2000 3
Consolidated Statements of Losses for the Three Months
Ended September 30, 2000 4
Consolidated Statements of Cash Flows
Months Ended September 30, 2000 5
Notes to Unaudited Consolidated Financial Statements
September 30, 2000 6
ITEM 2. MANAGEMENT'S PLAN OF OPERATION 6
PART II. OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS 7
ITEM 5. OTHER INFORMATION 7
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K 7
SIGNATURES 8
<PAGE>
PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS (UNAUDITED)
LAPTA ACQUISITION CORPORATION VIII
(A DEVELOPMENTAL STAGE COMPANY)
CONSOLIDATED BALANCE SHEET
SINCE
INCEPTION
SEPTEMBER 30,2000 JUNE 30, 2000
ASSETS
Current assets:
Cash $ 500 $ 500
Organization costs less
accumulated amortization - -
--------- -------
$ 500 $ 500
======== =======
LIABILITIES AND STOCKHOLDERS EQUITY
Current liabilities:
Total current liabilities - -
Stockholders' equity:
Preferred stock, par value, $.001
per share; 20,000,000 shares
authorized ; none issued - -
Common stock, par value $.0001 per
share; 100,000,000 shares
authorized; 5,000,000 shares
issued 500 500
Additional paid-in capital 1,330 1,330
Deficit accumulated during
development stage (1,330) (1,330)
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Total stockholders' equity 500 500
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$ 500 $ 500
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The accompanying notes are an integral part of these statements.
<PAGE>
LAPTA ACQUISITION CORPORATION VIII
(A DEVELOPMENTAL STAGE COMPANY)
STATEMENTS OF LOSSES
PERIOD FROM
JUN 30, 2000
THREE (DATE OF
MONTHS INCEPTION)
ENDED THROUGH
SEPT 30,2000 SEPT 30,2000
------------ ------------
(UNAUDITED) (UNAUDITED)
Costs and expenses:
Professional Fees - 750
Organization Costs $ - $ 580
Net Loss $ $ 1,330
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Loss per common share
(basic and assuming dilution) $ 0.00 $ 0.00
Weighted average common shares
Outstanding 5,000,000 5,000,000
========= =========
The accompanying notes are an integral part of these statements.
<PAGE>
LAPTA ACQUISITION CORPORATION VIII
STATEMENTS OF CASH FLOWS
(A DEVELOPMENTAL STAGE COMPANY)
PERIOD FROM
JUN 30, 2000
THREE (DATE OF
MONTHS INCEPTION)
ENDED THROUGH
SEPT 30,2000 SEPT 30,2000
------------ ------------
(UNAUDITED) (UNAUDITED)
Cash flows from operating activities:
Net loss $ - $ (1,330)
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Net cash provided by operating
Activities - (1,330)
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Cash flows from financing activities:
Issuance of common stock - 1,830
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Net increase in cash 0 1,830
Cash - beginning of period 500 500
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Cash - end of period $ 500 $ 500
========== ==========
The accompanying notes are an integral part of these statements.
<PAGE>
LAPTA ACQUISITION CORPORATION VIII
(A DEVELOPLMENTAL STAGE COMPANY)
NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
SEPTEMBER 30, 2000
(UNAUDITED)
NOTE A
1. Basis of Presentation
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The accompanying unaudited financial statements have been prepared by
LAPTA ACQUISITION CORPORATION VIII, (the "Company") pursuant to the rules and
regulations of the U. S. Securities and Exchange Commission. Certain
information and disclosures normally included in annual financial statements
prepared in accordance with generally accepted accounting principles have been
condensed or omitted pursuant to such rules and regulations. In the opinion of
management, all adjustments and disclosures necessary for a fair presentation
of these financial statements have been included. Such adjustments consist of
normal recurring adjustments. This Form 10-QSB Report should be read in
conjunction with annual report of LAPTA ACQUISITION CORPORATION VIII included
in the Form 10-SB for the period ended June 30, 2000, as filed with the U. S.
Securities and Exchange Commission.
The results of operations for the period ended September 30, 2000 are
not indicative of the results that may be expected for the year ended December
31, 2000.
2. 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 revenue and expenses during the
reporting period.
Actual results could differ from those estimates.
ITEM 2. MANAGEMENT'S PLAN OF OPERATION
The Company intends to merge with or acquire a business entity in
exchange for the Company's securities. The Company has no particular
acquisition in mind and has not entered into any negotiations regarding such
an acquisition. Neither the Company's officer and director nor any affiliate
has engaged in any negotiations with any representative of any company
regarding the possibility of an acquisition or merger between the Company and
such other company or identified any particular acquisition candidate.
Management anticipates seeking out a target company through solicitation. Such
solicitation may include newspaper or magazine advertisements, mailings and
other distributions to law firms, accounting firms, investment bankers,
financial advisors and similar persons, the use of one or more World Wide Web
sites and similar methods. No estimate can be made as to the number of persons
who will be contacted or solicited and no assurance can be given that any of
the persons contacted or solicited will be interested in consummating a
business combination. Management may engage in such solicitation directly or
may employ one or more other entities to conduct or assist in such
solicitation. Management and its affiliates may pay referral fees to
consultants and others who refer target businesses for mergers into public
companies in which management and its affiliates have an interest. Payments
are made if a business combination occurs, and may consist of cash or a
portion of the stock in the Company retained by management and its affiliates,
or both. Additionally, the Company's sole officer and director may receive a
referral fee or other compensation from the target business with which the
Company consummates a business combination. The Company has no full time
employees. The Company's president has agreed to allocate a portion of his
time to the activities of the Company up to a maximum of 10 hours per month,
without cash compensation. The president anticipates that the business plan of
the Company can be implemented by his devoting no more than 10 hours per month
to the business affairs of the Company and, consequently, conflicts of
interest may arise with respect to the limited time commitment by such
officer. Management is currently involved with soliciting target companies on
behalf of blank check companies, and is involved in creating additional blank
check companies similar to this one. A conflict may arise in the event that
another blank check company with which management is affiliated actively seeks
a target company. Management anticipates that target companies will be located
for the Company and other blank check companies in chronological order of the
date of formation of such blank check companies or by lot. Other blank check
companies that may be formed, however, may differ from the Company in certain
matters such as place of incorporation, number of shares and shareholders,
working capital, types of authorized securities, or other characteristics. It
may be that a target company may be more suitable for or may prefer a certain
blank check company formed after the Company. In such case, a business
combination might be negotiated on behalf of the more suitable or preferred
blank check company regardless of date of formation or choice by lot.
PART II. OTHER INFORMATION.
ITEM 1. LEGAL PROCEEDINGS.
None.
ITEM 5. OTHER INFORMATION.
None.
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.
(a) Furnish the exhibits required by Item 601 of Regulation S-B.
None
(b) Reports on Form 8-K.
None
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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.
LAPTA ACQUISITION CORPORATION VIII
By: /s/ Mike M. Mustafoglu
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Mike M. Mustafoglu
Chairman and CEO
Date: November 12, 2000
