UNITED STATES
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 13 or 15(d) of the Exchange Act
For the transition period from to
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Commission File Number:
DRGOODTEETH.COM
----------------------------------------------------
(Exact name of Registrant as specified in its charter)
Nevada 88-0451554
--------------------------- -----------------
(State or other jurisdiction (I.R.S. Employer
of incorporation or organization Identification No.)
Times Square Bldg., Suite 11-4, (212) 386-5695
246 Sukhumvit Road -----------------------
Klongtoey 10110 Bangkok, Thailand (Registrant's telephone
------------------------------------- number, including area code)
(Address of principal executive offices)
Securities to be registered pursuant to 12(b) of the Act: NONE
Securities to be registered pursuant to 12(g) of the Act:
COMMON STOCK $.001 PAR VALUE
(Title of Class)
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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
The number of shares outstanding of the registrant's common stock as of
September 30, 2000 was 4,000,000.
Registrant's common stock is listed on the OTCBB under the symbol "DRGT".
The aggregate market value of the voting common stock held by non-affiliates of
Registrant is $100,000, or $.05 per share.
Registrant's Form 10SB12G and all exhibits thereto, filed on September 18, 2000
are incorporated herein by reference.
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PART I
ITEM 1. FINANCIAL STATEMENTS.
The financial statements included herein have been prepared by the Company,
without audit, pursuant to the rules and regulations of the Securities and
Exchange Commission. Certain information and footnote disclosures normally
included in financial statements prepared in accordance with the generally
accepted accounting principles have been omitted. However, in the opinion of
management, all adjustments (which include only normal recurring accruals)
necessary to present fairly the financial position and results of operations for
the period presented have been made. The results for interim periods are not
necessarily indicative of trends or of results to be expected for the full year
These financial statements should be read in conjunction with the financial
statements and notes thereto included in the Company's registration statement
Form 10KSB, as amended.
REPORT OF INDEPENDENT ACCOUNTANT
To the Board of Directors
DrGoodTeeth.com
We have made a review of the consolidated balance sheet of DrGoodTeeth.Com as of
September 30, 2000, and the related consolidated statements of operations,
statement of Stockholders' equity, and cash flows for the three months period
ended September 30, 2000, in accordance with the standards established by the
American Institute of Certified Public Accountants. These financial statements
are the responsibility of the Company's management.
A review of interim financial information consists principally of obtaining an
understanding of the system for the preparation of interim financial
information, applying analytical review procedures to financial data, and making
inquiries of persons responsible for financial and accounting matters. It is
substantially less in scope than an audit in accordance with generally accepted
auditing standards, the objective of which is the expression of an opinion
regarding the financial statements taken as a whole. Accordingly, we do not
express such an opinion.
Based on our review, we are not aware of any material modifications that should
be made to the consolidated financial statements referred to above for them to
be in conformity with generally accepted accounting principles.
We have previously audited, in accordance with generally accepted auditing
standards, the consolidated balance sheet as of July 24, 2000, and the related
consolidated statements of operations, cash flows and changes in shareholders'
equity (deficit) for the year then ended (not presented herein); and in our
report dated July 26, 2000, we expressed an unqualified opinion on those
financial statements. In our opinion, the information set forth in the
accompanying financial statements as of September 30, 2000, is fairly stated in
all material respects in relation to the financial statements from which it has
been derived.
/s/ Clyde Bailey P.C.
San Antonio, Texas
October 25, 2000
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<TABLE>
<CAPTION>
DrGoodTeeth.Com
(A Development Stage Enterprise)
Balance Sheet
September 30, 2000 July 24, 2000
A S S E T (Unaudited) (Audited)
------------------ -------------
<S> <C> <C>
Current Assets
Cash $ 97,331 $ 104,201
------------- -------------
Total Current Assets 97,331 104,201
Other Assets
Web Development 10,000 10,000
------------- -------------
Total Other Assets 10,000 10,000
------------- -------------
Total Assets $ 107,331 $ 114,201
============= =============
L I A B I L I T I E S
Current Liabilities
Accounts Payable $ 10,000 $ 10,000
------------- -------------
Total Current Liabilities 10,000 10,000
------------- -------------
Total Liabilities 10,000 10,000
Commitments and Contingencies - -
S T O C K H O L D E R S ' E Q U I T Y
Common Stock $ 4,000 $ 4,000
100,000,000 authorized shares,
par value $ .001
4,000,000 shares issued and outstanding
Additional Paid-in-Capital 101,000 101,000
Accumulated Deficit (7,669) (799)
------------ ------------
Total Stockholders' Equity (Deficit) 97,331 104,201
------------ ------------
Total Liabilities and Stockholders' Equity $ 107,331 $ 114,201
============ ============
</TABLE>
The accompanying notes are integral part of the
consolidated financial statements.
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<TABLE>
<CAPTION>
DrGoodTeeth.Com
(A Development Stage Enterprise)
Statement of Operations
(Unaudited)
-------------------------- ------------
For the Three Months Ended From 2/15/00
September 30 to Sept 30
-------------------------- ------------
2000 1999 2000
------------- ------------ ------------
<S> <C> <C> <C>
Revenues:
Revenues - - -
------------- ------------ ------------
Total Revenues $ - $ - $ -
Expenses:
Consulting Services - - -
Professional Fees 6,000 0 6,000
Operating Expenses 870 - 1,669
------------- ------------ ------------
Total Expenses 6,870 - 7,669
Net Income (Loss)
from Operations $ (6,870) $ - $ (7,669)
Other Income and Expenses:
Sale of Assets - - -
------------- ------------ ------------
Net Income before Taxes (6,780) - (7,669)
Provision for Income Taxes:
Income Tax Benefit - - -
Net Income (Loss) $ 6,870 $ - $ 7,669
============= ============ ============
Basic and Diluted Earnings
per Common Share (0.002) N/A (0.002)
------------- ------------ ------------
Weighted Average number of
Common Shares used in per 4,000,000 - 4,000,000
share calculations ============= ============ ============
</TABLE>
The accompanying notes are integral part of consolidated financial statements.
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<TABLE>
<CAPTION>
DrGoodTeeth.Com
(A Development Stage Enterprise)
Statement of Cash Flows
(Unaudited)
-------------------------- ------------
For the Three Months Ended From 2/15/00
September 30 to Sept 30
-------------------------- ------------
2000 1999 2000
------------- ------------ ------------
<S> <C> <C> <C>
Cash Flows from Operating Activities:
Net Income (Loss) $ (6,870) $ - $ (7,669)
Changes in assets and liabilities
Accounts Payable - - 10,000
------------- ------------ ------------
Total Adjustments - - 10,000
------------- ------------ ------------
NetCash from Operating
Activities $ (6,870) $ - $ 2,331
Cash Flows from Investing Activities:
Other Assets - - (10,000)
------------- ------------ ------------
Net Cash Used in $ - $ - $ (10,000)
Investing Activities ============= ============ ============
Cash Flows from Financing Activities:
Note Payable - - -
Common Stock - - 105,000
------------- ------------ ------------
Net Cash Provided for $ - $ - $ 105,000
Financing Activities ============= ============ ============
Net Increase (Decrease) in Cash $ (6,780) $ - $ 97,331
Cash Balance, Begin Period 104,201 - -
Cash Balance, End Period $ 97,331 $ - $ 97,331
============= ============ ============
Supplemental Disclosures:
Cash Paid for interest $ - $ - $ -
Cash Paid for income taxes $ - $ - $ -
Stock Issued for Services - - -
</TABLE>
The accompanying notes are integral part of consolidated financial statments.
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<TABLE>
<CAPTION>
DrGoodTeeth.Com
(A Development Stage Company)
STATEMENT OF SHAREHOLDER'S EQUITY
As of September 30, 2000
$0.001 Paid-In Accumulated Stockholders'
Shares Par Value Capital Deficit Equity
---------- --------- --------- ---------- -----------
<S> <C> <C> <C> <C> <C>
Balance,
February 15, 2000 - $ - $ - $ - $ -
Stock Issuance 4,000,000 4,000 101,000 - 105,000
Net Income (Loss) (799) (799)
----------------------------------------------------------
Balance,
February 15, 2000 4,000,000 $ 4,000 $101,000 $ (799) $ 104,201
Net Income (Loss) (6,870) (6,870)
--------- --------- -------- -------- ---------
Balance,
September 30, 2000 4,000,000 $ 4,000 $101,000 $(7,669) $ 97,331
========= ========= ======== ======== =========
</TABLE>
The accompanying notes are integral part of consolidated financial statements.
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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION
Results of Operations
---------------------
Registrant has not yet commenced full business operations and has not yet
realized any revenues for the period from inception to the three months
ended September 30, 2000.
Registrant had a net loss of $6,870 for the period from inception to
the three months ended September 30, 2000, resulting in a net loss per share of
$0.002.
General and administrative expenses for the period from inception to the
three months ended September 30, 2000 were $6870, and consisted primarily of
professional fees representing legal and accounting fees incurred in the filing
of Registrant's initial public offering documents pursuant to Rule 504,
Regulation D of the Securities Act of 1933, as amended.
LIQUIDITY AND CAPITAL RESOURCES
At the three months ended September 30, 2000,Registrant's primary source of
liquidity included cash and cash equivalents of $97,331. Cash in the bank at
the three months ended September 30, 2000 was the balance of proceeds raised
in Registrant's initial public offering conducted in the State of Nevada,
pursuant to Rule 504 of Regulation D.
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Registrant believes that its existing cash balance and future operating cash
flows will be sufficient for near term operating needs. The extent to which
such sources will be sufficient to meet Registrant's anticipated cash
requirements is subject to a number of uncertainties, the most important of
which is Registrant's ability to generate sufficient cash flow to support its
proposed business operations.
UNCERTAINTIES RELATING TO FORWARD-LOOKING STATEMENTS
Certain parts of this Form 10-QSB may contain "forward-looking statements"
within the meaning of the Securities Exchange Act of 1934, as amended, based on
current management expectations. Actual results could differ materially from
those in the forward-looking statements due to a number of uncertainties,
including, but not limited to, those discussed in this section. Factors that
could cause future results to differ from these expectations include general
economic conditions particularly related to demand for Registrant's services;
changes in business strategy; competitive factors (including the introduction
or enhancement of competitive services); pricing pressures; changes in
operating expenses; inability to attract or retain consulting, sales and/or
development talent; changes in customer requirements; and/or evolving industry
standards.
PART II - OTHER INFORMATION
ITEM 6. EXHIBITS AND REPORTS OF FORM 8-K
A) All exhibits required to be filed herein are incorporated by reference to
Registrant's Form 10SB, previously filed with the Commisson on September 18,
2000.
B) There were no reports on Form 8-K filed during the quarter.
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 the
undersigned thereunto duly authorized.
DrGoodTeeth.com
Dated: November 13, 2000 By:/s/ Dr. Anthana Chayawatana, President and
Director
Dated: November 13, 2000 By:/s/ Lt.Dr. Sondul Manpiankarn, Treasurer
and Director
Dated: November 13, 2000 By:/s/ Dr. Bancha Luangaram, Vice-President-
Marketing and Director
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