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 September 30, 2000
[ ] TRANSITION REPORT UNDER SECTION 14 OR 15(D) OF THE EXCHANGE ACT
For the transition period from__________ to ___________
NEW CENTURY CAPITAL & CONSULTING CORP.
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(Name of Registrant as specified in its charter)
N/A
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(Former Name of Registrant)
Florida 0-31269 65-0981179
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(State or other jurisdiction of (Commission File (IRS Employer
incorporation or organization) No.) Identification No.)
2505 NW Boca Raton Boulevard, Suite 1A, Boca Raton, Florida 33431
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(Address and telephone number of principal executive offices)
Check whether the issuer has (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months, (or such
shorter period that the Registrant was required to file such report(s), and (2)
has been subject to such filing requirements for the past 90 days.
Yes (X ) No ( )
APPLICABLE ONLY TO CORPORATE ISSUERS
State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date: October 31, 2000
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CLASS Outstanding at October 31, 2000
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Common stock $.001 Par Value 1,000,000
<PAGE>
NEW CENTURY CAPITAL & CONSULTING CORP.
<TABLE>
<CAPTION>
PART I: FINANCIAL INFORMATION PAGE
----
<S> <C>
Balance Sheet as of September 30, 2000 (Unaudited) 2
Statement of Operations for the Three Months Ended September 30,
2000 (Unaudited) and for the period January 13, 2000 (Inception)
to September 30, 2000 (Unaudited) 3
Statement of Changes in Stockholders' Equity for the period
From January 13, 2000 (Inception) to September 30, 2000 4
Statement of Cash Flows for the Period from January 13,
2000 (Inception) to September 30, 2000 (Unaudited) 5
Notes to Financial Statements
(Unaudited) as of September 30, 2000 6
Management Discussion and Analysis of Financial
Condition and Results of Operations 7
PART II: OTHER INFORMATION & SIGNATURES
Signatures 8
</TABLE>
<PAGE>
NEW CENTURY CAPITAL & CONSULTING CORP.
(A DEVELOPMENT STAGE COMPANY)
BALANCE SHEET
SEPTEMBER 30, 2000
ASSETS
Cash $ 3,300
-------
TOTAL ASSETS $ 3,300
=======
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES
Accounts Payable $ 500
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STOCKHOLDERS' EQUITY
Preferred stock, $0.001 par value, 5,000,000 shares authorized,
none issued and outstanding --
Common Stock, $0.001 par value, 25,000,000 shares authorized,
1,000,000 issued and outstanding 1,000
Additional paid-in capital 7,841
Deficit accumulated during development stage (4,441)
-------
4,400
Less subscriptions receivable (1,600)
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Total Stockholders' Equity 2,800
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TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 3,300
------------------------------------------ =======
See accompanying notes to financial statements
2
<PAGE>
NEW CENTURY CAPITAL & CONSULTING CORP.
(A DEVELOPMENT STAGE COMPANY)
STATEMENT OF OPERATIONS
<TABLE>
<CAPTION>
From January 13,
Three Months Ended 2000 (inception) to
September 30, 2000 September 30, 2000
------------------ -------------------
<S> <C> <C>
Revenues $ -- $ --
Expenses
Compensation expense 70 370
Consulting fees -- 1,541
Bank charges -- 30
Accounting and Legal 2,500 2,500
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Total expenses 2,570 (4,441)
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NET LOSS $ (2,570) $ (1,941)
=========== ===========
Net loss per common share - basic and
diluted $ -- $ --
=========== ===========
Weighted average number of common
shares outstanding - basic and diluted 1,000,000 995,705
=========== ===========
</TABLE>
See accompanying notes to financial statements
3
<PAGE>
NEW CENTURY CAPITAL & CONSULTING CORP.
(A DEVELOPMENT STAGE COMPANY)
STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
FOR THE PERIOD FROM JANUARY 13, 2000 (INCEPTION)
TO SEPTEMBER 30, 2000
<TABLE>
<CAPTION>
DEFICIT
ACCUMULATED
COMMON STOCK ADDITIONAL DURING
PAID-IN DEVELOPMENT SUBSCRIPTIONS
SHARES AMOUNT CAPITAL STAGE RECEIVABLE TOTAL
--------- --------- --------- --------- --------- ---------
<S> <C> <C> <C> <C> <C> <C>
Common stock issued to founders for
services 941,000 $ 941 $ -- $ -- $ -- $ 941
Common stock issued for cash 53,000 53 5,247 (1,600) 3,700
Common stock issued for services 6,000 6 594 -- -- 600
Contributed services -- -- 2,000 -- -- 2,000
Net loss from January 13, 2000 (inception)
to September 30, 2000 -- -- -- (4,441) -- (4,441)
--------- --------- --------- --------- --------- ---------
BALANCE, SEPTEMBER 30, 2000 1,000,000 $ 1,000 $ 7,841 $ (4,441) $ (1,600) $ 2,800
========= ========= ========= ========= ========= =========
</TABLE>
See accompanying notes to financial statements
4
<PAGE>
NEW CENTURY CAPITAL & CONSULTING CORP.
(A DEVELOPMENT STAGE COMPANY)
STATEMENT OF CASH FLOWS
FOR THE PERIOD FROM JANUARY 13, 2000 (INCEPTION)
TO SEPTEMBER 30, 2000
<TABLE>
<CAPTION>
CASH FLOWS FROM OPERATING ACTIVITIES:
<S> <C>
Net loss $(4,441)
Adjustment to reconcile net loss to net cash used in operating activities
Stock issued for services 1,541
Contributed services 2,000
Increase in accounts payable 500
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Net cash used in operating activities (400)
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CASH FLOWS FROM INVESTING ACTIVITIES --
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CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock 3,700
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Net cash provided by financing activities 3,700
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INCREASE IN CASH AND CASH EQUIVALENTS 3,330
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD --
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CASH AND CASH EQUIVALENTS - END OF PERIOD $ 3,330
=======
</TABLE>
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES
--------------------------------------------------------
During January 2000, the Company issued 53,000 shares of its common stock for
cash of $3,700 and a stock subscription receivable of $1,600.
See accompanying notes to financial statements
5
<PAGE>
NEW CENTURY CAPITAL & CONSULTING CORP.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS
AS OF SEPTEMBER, 2000
NOTE 1 BASIS OF PRESENTATION
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The accompanying unaudited financial statements have been
prepared in accordance with generally accepted accounting
principles and the rules and regulations of the Securities and
Exchange Commission for interim financial information.
Accordingly, they do not include all the information and
footnotes necessary for a comprehensive presentation of
financial position and results of operations.
It is management's opinion, however, that all material
adjustments (consisting of normal recurring adjustments) have
been made which are necessary for a fair financial statements
presentation. The results for the interim period are not
necessarily indicative of the results to be expected for the
year.
For further information, refer to the audited financial
statements and footnotes for the period from January 13, 2000
(inception) to May 31, 2000 included in the Company's Form
10-SB, as amended.
NOTE 2 CONTRIBUTED SERVICES
------ --------------------
From July 1, 2000 to September 30, 2000 a principal
stockholder contributed legal services valued at $1,000 and
paid for accounting services on behalf of the company of
$1,000.
6
<PAGE>
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
THE FOLLOWING DISCUSSION OF THE RESULTS OF OUR OPERATIONS AND FINANCIAL
CONDITION SHOULD BE READ IN CONJUNCTION WITH OUR FINANCIAL STATEMENTS AND THE
NOTES THERETO INCLUDED ELSEWHERE IN THIS REPORT. EXCEPT FOR THE HISTORICAL
INFORMATION CONTAINED HEREIN, THE DISCUSSION CONTAINED IN THIS REPORT CONTAINS
"FORWARD-LOOKING STATEMENTS" THAT INVOLVE RISK AND UNCERTAINTIES. THESE
STATEMENTS MAY BE IDENTIFIED BY THE USE OF FORWARD-LOOKING TERMINOLOGY SUCH AS
"BELIEVES," "EXPECTS," "MAY," "WILL," "SHOULD" OR "ANTICIPATES" OR THE NEGATIVE
THEREOF OR SIMILAR EXPRESSIONS OR BY DISCUSSIONS OF STRATEGY. THE CAUTIONARY
STATEMENTS MADE IN THIS REPORT SHOULD BE READ AS BEING APPLICABLE TO ALL RELATED
FORWARD-LOOKING STATEMENTS WHEREVER THEY APPEAR IN THIS REPORT. OUR ACTUAL
RESULTS COULD DIFFER MATERIALLY FROM THOSE DISCUSSED IN THIS REPORT.
Results of Operations
For the three months ended September 30, 2000 the Company has not generated any
revenues. Management's efforts to date have been devoted to the filing of the
Company's registration statement. Management intends to focus on prospective
business opportunities to effect a merger, exchange of capital stock, asset
acquisition or other similar business combination . The Company has incurred
operating losses to date of $4,441 and will continue to incur losses until such
time as an acquisition candidate is identified and, even if successful in
acquiring a business or consummating a business combination, there can be no
assurance that this business will be profitable.
Liquidity and Capital Resources
The Company has a total of $3,300 in cash and $500 in liabilities. The
investigation of prospective business candidates will involve the expenditure of
capital. The Company's officer has indicated that he will advance funds to
assist the company in its efforts to evaluate business opportunities. However,
he has not given a definitive commitment regarding the amount of capital he will
commit nor can there be any assurances that the amount of capital to be
committed will be sufficient to conclude a business combination.
7
<PAGE>
PART II. OTHER INFORMATION AND SIGNATURES
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
New Century Capital & Consulting Corp.
/s/ Mark Colacurcio
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BY: Mark Colacurcio, president
Dated: This 17th day of November 2000
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