FORM 10Q
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Quarterly Report Under Section 13 or 15(D) of the
Securities and Exchange Act of 1934
FOR QUARTER ENDED: JUNE 30, 2000
DELTA STATES OIL INC.
(Exact name as specified in charter)
Delaware Commission File: 10-7539
(State or other jurisdiction
of incorporation or organization) IRS Employer Identification:
#13-2599131
(Address of principal executive offices)
Alfred D. Morgan, Ph.D., Pres.
Delta States Oil Inc.
888 Riverbank Road, Stamford, Ct. 06903
Registrant's Telephone No.: 203 322 1003
Indicate by check mark whether the registrant (1) has filed all reports required
to by filed by Section 13 or 15(D) of the Securities and Exchange Act of 1934
during the preceding twelve 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 [ ]
Indicate the number of shares outstanding of each of the registrant's classes of
common stock as of the latest practicable date:
As of June 30, 2000 there were 2,390,000 shares of the Company's common shares
outstanding, of which 780,132 were Treasury shares not in public float.
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PART 1 MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS:
Registrant did not conduct any operations during this quarter. Management,
however, continued to search for means of engaging in active operations by
merger or acquisition. Although financial resources at hand are inadequate for a
significant acquisition by cash, liquid assets at hand appear adequate to
support anticipated administrative costs for this fiscal years.
PART II
1. The Company has not been informed of any legal proceedings against it during
this quarter or in the preceding fiscal year. Nor have any legal actions been
commenced by the company in the period herein referred to.
2. No changes in securities issued occurred during this Quarter. However, during
fiscal 1994 the Board voted to issue to each Director 20,000 shares of common
stock in lieu of a cash stipend for work performed and responsibilities assumed
in behalf of the Company, and in view of lack of Directorial insurance or other
per quisites,
3. The above-mentioned issuance of 60,000 shares to Directors increased the
common outstanding to 2,390,000 shares of which, however, 780,132 shares remain
as Treasury shares not in public hands or float.
4. No securities were issued in the Quarter concerned.
5. No matters required to be voted on by stockholders were submitted during this
period. When Corporate actions will require vote by stockholders, such Board
changes made by vote of the Board will be submitted for vote by proxy to
shareholders as may be required by Company by-laws.
6. EXHIBITS THIS REPORT: FINANCIAL STATEMENTS, PART I
Pursuant to the requirements of the Securities Exchange act of 1934, and as
amended, the Registrant has duly caused this Report to be signed by the duly
authorized officer shown below:
/s/ ALFRED D. MORGAN
------------------------------
Alfred D. Morgan, Ph.D.
President, Chairman, Treasurer
June 30, 2000
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PART I DELTA STATES OIL INC. 10Q QUARTERLY REPORT
FINANCIAL STATEMENTS QUARTER ENDED JUNE 30, 2000
UNAUDITED
BALANCE SHEET--UNAUDITED
(ROUNDED TO NEAREST DOLLAR)
6/30/00 6/30/99
$ $
ASSETS (cash bank accts) 8,722 9,250
LIABILITIES (Est. current) 500 500
SHAREHOLDER EQUITY
Authorized common, 6,000,000
Shares; issued and outstanding
2,390,000 including 780,832
Treasury shares not in float 108,500 108,500
Additional paid-in capital 7,660 7,660
Accumulated deficit 59,997 59,397
Less Cost, Treasury shares 39,042 39,042
EQUITY 15,405 15,905
INCOME STATEMENT-UNAUDITED:
INTEREST RECEIVED (bank fund) 126 104
EXPENSES (Transfer agent, phone, 546 600
10Q Filing, travel, mail)
NET INCOME (Loss) (420) (496)
Per Share loss nm nm
(nm: not meaningful)
Note: Assets consist of cash or equivalent in account at Fleet Bank, Stamford,
Ct. Expenses consist principally of annual corporate registration fee to State
of Delaware, accounting services, transfer agent services, travel and
communication expenses in behalf of corporation. The above expenses do not
include annual registration fee or accounting expense and in the 6/30/00 quarter
herein principally account for a payment to Liberty Transfer for recent
stockholder list required for deal negotiations.
