<PAGE> 1
U.S. SECURITIES & EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-QSB
( X ) Amended Quarterly report under Section 13 or 15(d) of the Securities
Exchange Act of 1934 for the quarter period of March 31, 1997.
( ) Transition report under Section 13 or 15(d) of the Securities Exchange
Act of 1934 for the transition period from to .
Commission File Number 0-9185
MEDCO HEALTH CORPORATION
(Formerly Williston Oil Corporation)
Nevada 22-1934084
(State or other jurisdiction of (IRS Employer Identification Number)
incorporation or organization)
532 Sylvan Avenue
Englewood Cliffs, New Jersey 07632
(address of Principal Executive Offices) (Zip Code)
(201)541-8444
(Registrant's telephone number, including area code)
Securities registered under Section 12(b) of the Exchange Act:
None
Securities registered under Section 12(g) of the Exchange Act:
Class A Common Stock, $.001 Par Value
Check whether the issuer (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the preceding twelve (12) months
(or for such shorter period that registrant was required to file such
reports), and (2) has been subject to such filing requirements for the past
ninety (90) days. YES ( X )( ).
Applicable Only to Corporate Issuers
State the number of shares outstanding of each of the issuer's classes of
common equity:
36,695,543 Shares of Class A Common Stock, $.001 par value
1,250,000 Shares of Class B Common Stock, $.001 par value
Transitional Small Business Disclosure Format
YES ( X ) NO ( X )
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Item 1. Financial Statements
The financial statements of the Company, required to be included in this
report pursuant to Item 310(a) of Regulation S-13, are set forth below:
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Medco Health Corporation (formerly Medco, Inc.)
(A Development Stage Company)
Statements of Operations
<TABLE>
<CAPTION>
Cumulative
Three months Nine months Period from
ended ended July 1, 1994
March 31, March 31, (Date of
----------------------------- -------------------------- Inception) to
1996 1997 1996 1997 March 31, 1997
------------- ------------ ---------- ---------- ---------------
<S> <C> <C> <C> <C> <C>
Revenues $ 458 $ -- $ 3,857 $ -- $ 83,069
Cost of sales 3,961 -- 5,462 -- 16,939
--------- ---------- --------- ---------- ----------
Gross profit (3,503) -- (1,605) -- 66,130
--------- ---------- --------- ---------- ----------
General and administrative expenses:
Payroll -- officers 1,000 -- 1,000 32,390 39,890
Payroll -- other 1,050 -- 1,050 8,000 23,689
Taxes and licenses 68 4,620 314 8,702 11,002
Management fees -- 9,196 -- 13,111 19,036
Commission expense 3,680 28,685 17,551 28,885 37,285
Travel 3,969 -- 3,969 450 7,324
Miscellaneous -- 299 750 2,294 3,044
Bad debt -- -- -- -- 60,746
Insurance 1,298 7,064 1,903 15,233 20,521
Supplies -- 3,310 230 5,780 5,780
Advertising 401 -- 797 -- 1,844
Truck and auto expenses 56 561 461 1,430 4,932
Rent 3,000 32,000 6,000 43,000 54,075
Telephone 1,317 3,353 2,896 3,959 10,772
Utilities 1,072 524 1,486 958 3,083
Repairs and maintenance 68 -- 206 35 987
Office expense 136 367 633 588 2,256
Seminars -- -- 68 -- 648
Professional fees -- 41,100 1,000 45,145 52,818
Depreciation and amortization 2,627 2,650 7,881 7,950 21,784
--------- ---------- --------- --------- ----------
19,742 133,729 48,150 217,910 381,516
--------- ---------- --------- --------- ----------
</TABLE>
See Notes to Financial Statements
<PAGE> 4
Medco Health Corporation (formerly Medco, Inc.)
(A Development Stage Company)
Statements of Operations
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
Operating loss (23,245) (133,729) (49,755) (217,910) (315,386)
Gain (loss) on equipment -- -- -- 59,800 26,172
--------- --------- --------- ---------- ----------
Loss before provision for income taxes (23,245) (133,729) (49,755) (158,110) (289,214)
Provision for income taxes -- -- -- -- 827
-------- ---------- --------- ---------- ----------
Net loss $(23,245) $(133,729) $(49,755) $(158,110) $(290,041)
========= ========== ========= ========== ==========
Net loss per common share $ -- $ -- $ -- $ -- $ --
======== ========= ========= ========== ==========
</TABLE>
See Notes to Financial Statements
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Item 2. Management's Discussion and Analysis of
Financial Condition and Result of Operations
The following is management's discussion and analysis of significant
factors which have affected the Registrant's financial position and operations
during the fiscal quarter that ended March 31, 1997.
Liquidity and Capital Resources
The activities of the registrant since its reorganization on January
16, 1996 have been financed by various loans.
The company currently owns three vehicles, a Land Cruiser, a BMW, and a
Dodge Colt. The company will also own the laboratory, including all of its
furnishings, once it is complete.
The company currently has a negative net worth. There is no assurance
that the company will, in fact, be able to raise adequate funding and actually
expand its operations as contemplated, or even to bring its present operations
to a profitable level.
Results of Operations
The company's revenues from its date of inception until March 31, 1997
is $83,069.00. The company has no revenue for the three months that ended March
31, 1997.
The management of the company has continued to devote the company's
resources to the completion of the clinical laboratory in Engelwood Cliffs, New
Jersey.
Item 6. Exhibits and Reports on Form S-K
(a) Exhibits filed herewith:
None
(b) Current reports on Form 10KSB; dated April 17, 1997, filed with the
Securities and Exchange Commission.
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SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned thereunto duly
authorized.
MEDCO HEALTH CORPORATION
By: /s/ FAHIM SAHRAIE
----------------------------
FAHIM SAHRAIE
President/Director
By: /s/ HASHEM SAHRAIE
---------------------------
HASHEM SAHRAIE
Secretary/Director
