--------------------------------------------------------------------------------
Jeffrey A. Harry
PRESIDENT
Webmaster.com, Inc.
24843 Del Prado, #318
Dana Point, CA 92629
(Name and Address of Person Authorized to Receive Notices
and Communications on Behalf of the Person Filing Statement)
--------------------------------------------------------------------------------
WITH A COPY TO:
KARL E. RODRIGUEZ, ESQ
34700 Pacific Coast Highway, Suite 303
Capistrano Beach, CA 92624
(949) 248-9561
fax (949) 248-1688
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FORM 10-QSB
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
AND
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
Commission File Number: 0-31177
For the Quarter ended September 30, 2000
WebMaster.com, Inc.
Nevada Optional
(Jurisdiction of Incorporation) (I.R.S. Employer Identification No.)
24843 Del Prado, Suite 318, Dana Point California 92629
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (949) 248-1765
Securities registered pursuant to Section 12(g) of the Act: 4,950,800
Class-A Common Voting Equity Stock
Yes [X] No [ ] (Indicate by check mark whether the Registrant (1) has filed
all report required to be filed by Section 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.)
As of September 30, 2000, the number of shares outstanding of the Registrant's
Common Stock was 4,950,800.
1
<PAGE>
UNNUMBERED INTRODUCTION
Our Form 10-SB was filed voluntarily about July 27, 2000 and became
effective by operation of law sixty days later, on or about September 25, 2000.
Our Form 10-SB has not cleared Comments by the Staff of the SEC. It is therefore
foreseeable that this quarterly report may be amended responsively to such SEC
Comments as may be directed to us by the Staff.
PART I: FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS.
Attached hereto and incorporated herein by this reference are the following
financial statements:
--------------------------------------------------------------------------------
Exhibit FINANCIAL STATEMENTS
--------------------------------------------------------------------------------
00-QF2 Un-Audited Financial Statements for the three months and six months
ended September 30, 2000
--------------------------------------------------------------------------------
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.
(A) PLAN OF OPERATION.
(1) CASH REQUIREMENTS AND OF NEED FOR ADDITIONAL FUNDS, TWELVE MONTHS. We
have an immediate and forseeable need for additional funding, from sources
outside of our circle of shareholders, during the next twelve months; however,
as a practical matter we cannot begin to formulate the capital requirements,
before the completion of this 1934 Act Registration, and the achievement of
quotability on the OTCBB. Management estimates that we need $500,000 to launch
and another $500,000 to continue operations for the next twelve months.
We do not anticipate any contingency upon which we would voluntarily cease
filing reports with the SEC, even though it may cease to be required to do so.
It is in our compelling interest to report our Company affairs quarterly,
annually and currently, as the case may be, generally to provide accessible
public information to interested parties, and also specifically to maintain its
qualification for the OTCBB, if and when the Issuer's intended application for
submission be effective.
(2) SUMMARY OF PRODUCT RESEARCH AND DEVELOPMENT. None.
(3) EXPECTED PURCHASE OR SALE OF PLANT AND SIGNIFICANT EQUIPMENT. None
(4) EXPECTED SIGNIFICANT CHANGE IN THE NUMBER OF EMPLOYEES. None at this
time.
Reference is made to NOTES TO FINANCIAL STATEMENTS: "The Company has
elected to omit substantially all footnotes to the financial statements for the
nine months ended September 30, 2000, since there have been no material changes
(other than indicated in other footnotes) to the information previously reported
by the Company in their Audited Financial Statements for the Fiscal Year ended
March 31, 2000.
(B) SELECTED FINANCIAL INFORMATION. This is our second Quarterly Report. It
began with our second quarter. Accordingly the following information is
summarized and displayed for convenient comparison:
2
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Balance Sheet . . 9/30/00 6/30/00 3/31/00
-----------------------------------------------
Cash. . . . . . . $ 2,489 $ 2,500 $ 7,500
Prepaid Expense . 1,842 5,524 5,524
===============================================
Total Assets. . . 4,331 8,024 13,024
Accounts Payable. 0 3,241 0
Other . . . . . . 0 0 0
===============================================
Total Liabilities 0 3,241 0
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
SECOND QUARTER. Inception
May 19,
1999
to
Operations July 1 to Sept 30 April 1 to Sept 30 Sept 30
2000 1999 2000 1999 2000
-----------------------------------------------------------------------------------------------------
Misc Revenues:. . . . . . $ 1,000 $ 0 $ 1,000 $ 0 $ 1,000
Total Revenues . . . . . 1,000 0 1,000 0 1,000
General & Administrative. 9,693 97,970 9,693 97,970 110,740
Total Expenses . . . . . 9,693 97,970 9,693 97,970 110,740
Net (Loss). . . . . . . . (8,693) (97,970) (8,693) (97,970) (109,740)
</TABLE>
(C) DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
Our first Fiscal Year ended March 31, 2000. Our financial condition is barely
changed since the end of our first fiscal year.
The bulk of our expenses to date have been legal and professional fees and
costs, including auditing and accounting, to prepare this 1934 Act Registration
statement.
(D) REVERSE ACQUISITION CANDIDATE. This Registrant is not a candidate for any
reverse or direct acquisition transactions, or other business combinations. Our
intention is to develop and realize our business plan.
PART II: OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
None
ITEM 2. CHANGE IN SECURITIES
None
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None
3
<PAGE>
ITEM 4. SUBMISSION OF MATTERS TO VOTE OF SECURITY HOLDERS
None
ITEM 5. OTHER INFORMATION
None
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
None
EXHIBIT INDEX
FINANCIAL STATEMENTS
--------------------------------------------------------------------------------
Exhibit FINANCIAL STATEMENTS
--------------------------------------------------------------------------------
00-QF2 Un-Audited Financial Statements for the three months and six months
ended September 30, 2000
--------------------------------------------------------------------------------
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, this
Form 10-Q Report for the Quarter ended September 30, 2000, has been signed below
by the following person on behalf of the Registrant and in the capacity and on
the date indicated.
WebMaster.com, Inc.
by
October 24, 2000
/s/Jeffrey A. Harry
Jeffrey A. Harry
sole initial officer/director
4
<PAGE>
--------------------------------------------------------------------------------
EXHIBIT 00-QF2
UN-AUDITED FINANCIAL STATEMENTS
FOR THE THREE MONTHS AND SIX MONTHS ENDED
SEPTEMBER 30, 2000
--------------------------------------------------------------------------------
5
<PAGE>
WEBMASTER.COM, INC.
BALANCE SHEET (UNAUDITED)
For the fiscal year ended March 31, 2000
And for the period ended September 30, 2000
<TABLE>
<CAPTION>
<S> <C> <C>
September 30, March 31,
2000 2000
(Unaudited)
------------------------------------------------------------------------------------
ASSETS
CURRENT ASSETS
Cash. . . . . . . . . . . . . . . . . . . . . . . . . $ 2,489 $ 7,500
TOTAL CURRENT ASSETS. . . . . . . . . . . . . . . . . 2,489 7,500
-------------- -----------
OTHER ASSETS
Prepaid expenses. . . . . . . . . . . . . . . . . . . 1,842 5,524
-------------- -----------
TOTAL OTHER ASSETS. . . . . . . . . . . . . . . . . . 1,842 5,524
-------------- -----------
TOTAL ASSETS. . . . . . . . . . . . . . . . . . . . . $ 4,331 $ 13,024
LIABILITIES & STOCKHOLDERS' EQUITY
LIABILITIES
Accounts payable. . . . . . . . . . . . . . . . . . . $ 0 -0-
-------------- -----------
TOTAL LIABILITIES . . . . . . . . . . . . . . . . . . 0 -0-
STOCKHOLDERS' EQUITY
Common Stock, $.001 par value; authorized 50,000,000
shares; issued and outstanding, 4,950,800 shares
and 4,950,800 shares respectively. . . . . . . . . 4,951 4,951
Additional paid-in capital. . . . . . . . . . . . . . 109,120 109,120
Accumulated equity (deficit). . . . . . . . . . . . . (109,740) (101,047)
Subscription Receivable
Total Stockholders' Equity. . . . . . . . . . . . . . 4,331 13,024
-------------- -----------
TOTAL STOCKHOLDERS' EQUITY. . . . . . . . . . . . . . $ 4,331 $ 13,024
</TABLE>
The accompanying notes are an integral part of these financial statements.
6
<PAGE>
WEBMASTER.COM, INC.
STATEMENTS OF LOSS AND ACCUMULATED DEFICIT (UNAUDITED)
For the periods ended September 30, 2000 and 1999
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
From
Inception on
From July From July From April From May May 19, 1999
1, 2000 to. 1, 1999 to 1, 2000 to 19, 1999 to through
September 30, September 30, September 30, September 30, September 30,
2000 1999 2000 1999 2000
---------------------------------------------------------------------------------------------------------------
Revenues. . . . . . . . . . $ 1,000 $ 0 $ 1,000 $ 0 $ 1,000
-------------- --------------- -------------- -------------- --------------
General and Administrative. 9,693 97,970 9,693 97,970 110,740
Net Loss from Operations. . (8,693) (97,970) (8,693) (97,970) (109,740)
-------------- --------------- -------------- -------------- --------------
Net Income (Loss) . . . . . ($8,693) ($97,970) ($8,693) ($97,970) ($109,740)
============== ================ =============== =============== ==============
Loss per Share. . . . . . . $ (0.00176) $ (0.02407) $ (0.00176) $ (0.02407) $ (0.02312)
============== ================ =============== =============== ==============
Weighted Average
Shares Outstanding. . . 4,950,800 4,070,800 4,950,800 4,070,800 4,745,868
============== ================ =============== =============== ==============
</TABLE>
The accompanying notes are an integral part of these financial statements.
7
<PAGE>
WEBMASTER.COM, INC.
STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT)(UNAUDITED)
For the period from inception of the Development Stage
On May 19, 1999, through the fiscal year ended March 31, 2000
And for the period ended September 30, 2000
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
Additional Accumulated Total Stock-
Common Par Paid-In Equity holders' Equity
Stock Value Capital (Deficit) (Deficit)
Common Stock issued at inception 2,419,000 $ 2,419 $ 0 $ 0 $ 2,419
Common Stock issued for
operating expenses . . . . . 1,651,800 1,652 0 0 0
Common Stock sold for cash . . . 880,000 880 109,120 0 0
Net Loss for the period. . . . . 0 0 0 (101,047) 0
Balance at March 31, 2000. . . . 4,950,800 $ 4,951 $ 109,120 ($101,047) $ 13,024
---------- ------------ ------------- ----------- -----------------
Net Loss for the period. . . . . 0 0 0 (8,693) 0
Balance at September 30, 2000 . . 4,950,800 $ 4,951 $ 109,120 ($109,740) $ 4,331
---------- ------------ ------------- ----------- -----------------
</TABLE>
The accompanying notes are an integral part of these financial statements.
8
<PAGE>
WEBMASTER.COM, INC.
STATEMENT OF CASH FLOW (UNAUDITED)
For the fiscal year ended March 31, 2000
And for the periods ended September 30, 2000 and 1999
<TABLE>
<CAPTION>
<S> <C> <C> <C>
From
Inception on
From April From May May 19, 1999
1, 2000 to 19, 1999 to through
September 30, September 30, September 30,
2000 1999 2000
------------------------------------------------------------------------------------------------------
Operating Activities
Net Income (Loss). . . . . . . . . . . . . . . . ($9,693) ($97,970) ($109,740)
Items not effecting cash
Stock for services. . . . . . . . . . . . . . 0 4,071 4,071
Ending Prepaid expense. . . . . . . . . . . . 1,842 7,101 1,842
Beginning prepaid expense . . . . . . . . . . 6,524 0 0
Cash increase from creation of account payable . 0 0 0
--------------- -------------- --------------
Net Cash from Operations . . . . . . . . . . . . (5,011) (101,000) (107,511)
Cash Increase (Decrease) . . . . . . . . . . . . (5,011) (101,000) (107,511)
Cash infused from sale/issuance of common stock. 0 110,000 110,000
--------------- -------------- --------------
Net increase (decrease) in cash. . . . . . . . . (5,011) 9,000 2,489
Beginning Cash . . . . . . . . . . . . . . . . . 7,500 0 0
Cash as of Statement Date. . . . . . . . . . . . $ 2,489 $ 9,000 $ 2,489
============== ============== ==============
</TABLE>
The accompanying notes are an integral part of these financial statements.
9
<PAGE>
WEBMASTER.COM, INC.
(A Development Stage Company)
Notes to the Financial Statements
September 30, 2000
Webmaster.com, Inc.
NOTES TO FINANCIAL STATEMENTS
Webmaste.com, Inc. ("the Company") has elected to omit substantially all
footnotes to the financial statements for the six months ended September 30,
2000, since there have been no material changes (other than indicated in other
footnotes) to the information previously reported by the Company in their
Audited Financial Statements for the Fiscal year ended March 31, 2000.
UNAUDITED INFORMATION
The information furnished herein was taken from the books and records of the
Company without audit. However, such information reflects all adjustments which
are, in the opinion of management, necessary to properly reflect the results of
the period presented. The information presented is not necessarily indicative
of the results from operations expected for the full fiscal year.
10
<PAGE>
