PAGE 1
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington DC 20549
FORM 10-Q
Quarterly Report Under Section 13 or 15(d) of the
Securities Exchange Act of 1934
For the quarterly period ended December.31, 1999
Commission file Number 0-8730
AMERICAN INDUSTRIES, LTD (Registrant)
(State of Incorporation)
Nevada
(IRS Employer ID No.)
88-0119436
(Address of Principal Executive Offices)
101 Convention Center Drive Suite 1200
Las Vegas NV 89109
Indicate by check mark whether the registrant (1) 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, and (2) has been subject to such filing requirements
for the past 90 days.
Yes___X__ No____
As of December 31, 1999, there were 20,006,586 shares of
common stock outstanding.
<PAGE>
PART I., FINANCIAL INFORMATION
Item 1. Financial Statements
Financial statements are attached at the end of the 10-Q
Item 1. Management's Discussion and Analysis of Financial
Condition and Operating Results.
Results of Operations-Quarter Ended
During the quarter the Company had no income. The quarter
ended December 31, 1999, showed no income also.
General administrative expenses increased from the previous
year's quarter. These expenses represent bare bones
administrative costs.
Liquidity and Capital Resources
As mentioned above, the company has no income. The
Company's newly elected Chief Executive Officer, George
Balis, is in constant search of income sources. The lack of
income production has put the Company into a negative cash
flow position. Currently, any shortfall in the company's
administrative and operating expenses are being paid by
George Balis and Mary Kinn, two shareholders. The
investments listed on the balance sheet are not liquid and
will provide no immediate relief from the negative cash
flow. Mr. Balis is working on hiring new staff and
revitalizing the revenue stream. His efforts are being
hampered by shortage of operating capital and, therefore,
there are no assurances that Mr. Balis's efforts will prove
successful.
The remainder of this page is intentionally blank.
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SIGNATURE
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 thereunder duly
authorized.
AMERICAN INDUSTRIES, LTD.
Registrant
/ss/George Balis, President
(Chief Accounting Officer)
Date: February 15, 2000
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AMERICAN INDUSTRiES, LTD
CONSOLIDATED BALANCE SHEETS
(Unaudited)
as ofDecember 31, 1999 and March 31,1999
<TABLE>
<CAPTION>
ASSETS
Cash
12/31/99 3/31/99
<S> <C> <C>
13,671 13,749
Total Current Assets 13,671 13,749
Investments 61,084,822 16,084,822
Total Assets 61,098,493 61,098,571
LIABILITIES
Accounts Payable152,441 104,023
Total Liabilities152,441 104,023
STOCKHOLDERS EQUITY
Common Stock
authorized
50,000,000 shares,
20,006,586 shares
outstanding
par value $.10 2,000,659 2,000,659
Paid in Capital 60,042,884 60,042,884
Retained Earnings
(loss) (1,097,491) (1,048,995)
_____________ _____________
Total Stockholders
Equity 60,946,052 60,994,548
Total Liabilities
and Stockholders
Equity 61,098,493 61,098,571
</TABLE>
[FN] 1
The above statement is unaudited and is prepared by
management.
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<TABLE>
AMERICAN INDUSTRIES, LTD
CONSOLIDATED STATEMENTS OF OPERATIONS
for the nine months ended December 31, 1999 and 1998
and the six months ended September 30, 1999 and 1998
<CAPTION> '
9mth9mth 6 mth 6mth
endedended ended ended
12/31/9912/31/98 9/30/99 9/30/98
<S> <C> <C> <C> <C>
Revenue 0 0 0 0
General and
Administrative
Expenses 152,44113,653 120,091 13,641
Net Income (loss)
before taxes (152,441) (13,653) (120,091) (13,631)
Provision for
income taxes 0 0 0 0
Net Income (loss) (152,441) (13,653) (120,091) (13,631)
Earnings per
common share 0 0 0 0
Weighted Average
Number of Shares
Outstanding 20,006,586 20,006,586 20,006,586 20,006,586
<FN> 2
The above statement is unaudited and is prepared by
management
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</TABLE>
<TABLE>
AMERICAN INDUSTRIES, LTD
CONSOLIDATED STATEMENTS OF CASH FLOW
(unaudited)
for the nine months ended December 31, 1999 and 1998
<CAPTION>
<S> <C> <C>
9 mths ended9 mths ended
12/31/9912/31/98
Cash from Operations
Net Income (loss) (152,441)(13,653)
Change in Receivables 0 0
Change in Payables(152,441)(13,653)
Net Cash from Operations0(13,653)
Cash used for Investments0 0
Cash from Investments 0 0
Net Change in Cash (94) (13,653)
Beginning Cash Balance 13,749 27,413
Ending Cash Balance 13,671 13,760
</TABLE>
[FN] 3 '
The above statement is unaudited and is prepared by
management.
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AMERICAN INDUSTRIES, LTD
NOTES TO FINANCIAL STATEMENTS
Note 1. General and Accounting Policies
American Industries, Ltd (the Company) was originally
organized December 26, 1919 in Nevada. The company has one
wholly owned subsidiary, Global Technologies S.A. Global
Technologies was organized in Europe in the country of
Luxembourg. In 1993 the company purchased Global
Technologies from its previous owner. The purchase was done
using purchase accounting.
Notwithstanding the use of purchase accounting, at the time
of the merger in 1993, the book value of Global's assets was
equal to the fair market value of the assets. At the time
of the merger appraisals were obtained to verify value.
Subsequently, these appraisals have been updated.
Management feels that these statements correctly reflect the
financial condition and operations of the company for the
period stated.
Principles of Consolidation
The consolidated financial statements include the companies
of American Industries, Ltd. and its wholly owned subsidiary
Global Technologies, S.A. All significant intercompany
transactions have been,eliminated.
Earnings per Share
Earnings per share is computed on the weighted average
number of common shares outstanding during the year.
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