SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-QSB
[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
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934 for the transition
period from __________________to __________________
Commission File Number 000-31379
Northstar Ventures , Inc.
(Exact Name of Registrant as specified in its Charter)
Nevada 91-20556816
(State or other Jurisdiction of I.R.S. Employer Identi-
Incorporation or Organization fication No.)
83-888 Avenue 51, Coachella, California 92236
(Address of Principal Executive Offices) (Zip Code)
(760) 398-9700
(Registrant's Telephone Number, including Area Code)
Indicate by check mark whether the Registrant (i) 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 (of for such shorter period that
the Registrant was required to file such reports) and (ii)
has been subject to such filing requirements for the past 90
days.
Yes X No
Indicate the number of shares outstanding of each of
the issuer's classes of Common Stock, as of the latest
practicable date.
Common Stock, $.001 par value 473,250
----------------------------------------------------------
Title of Class Number of Shares outstanding
at September 30, 2000
No Exhibits included.
General
The condensed consolidated financial statements of
Northstar Ventures, Inc. included herein, have
been prepared without audit pursuant to the rules and
regulations of the Securities and Exchange Commission.
Although certain information normally included in
financial statements prepared in accordance with generally
accepted accounting principles has been condensed or
omitted, Northstar Ventures, Inc.'s management
believes that the disclosures are adequate to make the
information presented not misleading. The condensed
financial statements for the nine months ended September 30,
2000 should be read in conjunction with the financial
statements and notes thereto included in this report and
Northstar Ventures, Inc.'s Form 10 filed 8/22/2000 for the
period through 6/30/2000.
The condensed financial statements included herein reflect
all normal recurring adjustments that, in the opinion of
management, are necessary for a fair presentation. The
result for the interim period are not necessarily
indicative of trends or of results to be expected for a
full year.
Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS
OF OPERATIONS AND FINANCIAL CONDITION
The Company has not commenced operations and has no
working capital.
NORTHSTAR VENTURES, INC.
BALANCE SHEET
Sept 30 December 31,
2000 1999
ASSETS:
Total Assets $ 0 $ 0
========= ========
LIABILITIES AND STOCKHOLDERS' DEFICIT:
Current Liabilities: 30,000 20,000
Total Liabilities: $ 30,000 $ 20,000
Stockholders' Equity:
Common Stock, 80,000,000 shares
authorized, $ .001 par value,
473,250 shares issued and
outstanding 4,000 4,000
Preferred stock, 20,000,000 shares
authorized, $ .001 par value, no shares
issued and outstanding 0 0
Additional Paid-In Capital 0 0
Accumulated Deficit (34,000) (24,000)
Total Stockholders' Deficit (30,000) (20,000)
Total Liabilities and
Stockholders' Deficit $ 0 $ 0
The accompanying notes are an integral part of these financial statements.
NORTHSTAR VENTURES, INC.
STATEMENTS OF OPERATIONS
For the 9 Months ended 9/30/2000 and 9/30/1999
3 Months 3 Months 9 Months 9 Months
9/30/00 9/30/99 9/30/00 9/30/00
Operating Expenses:
Total Operating Expense $ - $ - $ 10,000 $ 10,000
Net (Loss) Income from Operations $ - $ - $(10,000)$(10,000)
Weighted average number of
shares outstanding 473,250 473,250 473,250 473,250
Net Loss per Share $ - $ - $ - $ -
The accompanying notes are an integral part of these financial statements.
NORTHSTAR VENTURES, INC.
STATEMENTS OF CASH FLOWS
For the 3 Months and 9 Months Ended September 30, 2000 and 1999
3 Months 9 Months
2000 1999 2000 1999
Cash Flows From
Operating Activities: $ - $ - $ - $ -
Net Profit (Loss) - - (10,000) (10,000)
for Operations:
Increase in current liabilities
Notes Payable/related party 0 0 10,000 10,000
Net Cash Provide (Used) by
Operating Activities - - - -
Increase (Decrease) in Cash
Cash and Cash Equivalents,
Beginning of Period - - - -
Cash and Cash Equivalents,
End of Period $ - $ - $ - $ -
The accompanying notes are an integral part of these financial statements.
NORTHSTAR VENTURES, INC.
STATEMENT OF STOCKHOLDERS' EQUITY
For the Years End December 31, 1998 and 1999
and
For the Period Ending September 30, 2000
Accumulated
Shares Common Stock Pd in Cap Deficit Net Equity
Balance
12/31/98 473,250 $ 4,000 $ 0 $(14,000) $ (10,000)
Balance
12/31/99 473,250 $ 4,000 $ 0 $(24,000) $ (20,000)
Balance
3/31/00 473,250 $ 4,000 $ 0 $(34,000) $ (30,000)
Balance
6/30/00 473,250 $ 4,000 $ 0 $(34,000) $ (30,000)
Balance
9/30/00 473,250 $ 4,000 $ 0 $(34,000) $ (30,000)
NORTHSTAR VENTURES, INC.
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
September 30, 2000
NOTE 1 - ORGANIZATION:
Northstar Ventures, Inc. was organized under the laws of the state of Nevada
on December 3, 1998. The company was incorporated primarily to evaluate,
negotiate, structure and complete a merger with, or an acquisition of,
prospects consisting of private companies, partnerships or sole
proprietorships. The company may seek to acquire a controlling interest in such
entities in contemplation of later completing an acquisition. The company
is not limited to any operation or geographic area in seeking out opportunities.
Management has not identified any particular industry within which the company
will seek an aquisition or merger.
The company intends to continue to seek the acquisition of assets, property or
business that may benefit the company and its stockholders. Management
anticipates that any such acquisition would require it to issue shares of
its common stock as the sole consideration for the acquisition. The company
does not intend to restrict its search to any particular business or industry,
and the areas in which it will seek out acquisitions, reorganizations, or
mergers will be restriction free.
NOTE 2 - STOCK TRANSACTIONS:
The Articles of Incorporation authorize the company to issue up to
80,000,000 shares of common stock and 20,000,000 of Preferred Stock
both with a par value of $.001.
On December 15, 1998 473,250 shares of common stock was issued to
individuals in return for service rendered.
As of December 31, 1998 and 1999 and September 30, 2000, 473,250 shares
of common stock were issured and outstanding.
No Preferred stock shares have been issued from the date of inception
(December 3, 1998) through the period ending September 30, 2000
NOTE 3 - Related party transactions
On December 15, 1998, 376,500 shares of common stock were issued to Related
Parties and 96,750 shares of common stock was issued to associates in return
for services rendered. These individuals include officers of the corporation.
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 MATTER TO A VOTE OF SECURITY HOLDERS
None
Item 5. OTHER INFORMATION
None
Item 6. EXHIBITS AND REPORTS ON FORM 8-K
None
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 by the undersigned thereunto duly authorized.
Date: November 7, 2000 By: /s/ Dempsey K. Mork
---------------------------
Dempsey K. Mork
President and Chief
Financial Officer
