U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB
[ X ] QUARTERLY REPORT PURSUANT SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 1995
[ ] TRANSITION REPORT PURSUANT SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Commission File No. 0-9249
UNITED TRANS-WESTERN, INC.
(Exact name of registrant as specified in its charter)
Delaware 75-1519286
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
4809 Cole Avenue
Suite 340
Lock Box 120
Dallas, Texas 75205
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (214) 526-1294
Check whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Exchange Act
during the preceding 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 of the past 90 days.
Yes X No
State the number of shares outstanding of each of the issuer's
classes of common equity, as of the latest practicable date:
Class Outstanding at June 30, 1995
Common Stock, $.01 par value 8,425,944
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UNITED TRANS-WESTERN, INC.
INDEX
Page
--------
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements
Condensed Balance Sheet at June 30, 1995 3
Condensed Statements of Operations for the
Three and Six Months Ended June 30, 1995
and 1994 4
Condensed Statements of Cash Flows for
the Six Months ended June 30, 1995 and 1994 5
Note to Condensed Financial Statements 6
Item 2. Management's Discussion and Analysis of
Financial Condition and Results of Operations 6
PART II. OTHER INFORMATION 7
Items 1 through 6
SIGNATURE 8
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<TABLE>
UNITED TRANS-WESTERN, INC.
Condensed Balance Sheet
(Unaudited)
<CAPTION>
June 30
1995
--------------
<S>
Assets
<C>
Current asset - Cash $732
Liabilities and Stockholders' Equity (Deficit)
Current liabilities
Accounts payable and accrued expenses $72
Accounts payable - affiliate 3,000
Current portion of long-term debt to shareholders 180,767
Advances from shareholders 41,613
Accrued interest payable 24,854
Total current liabilities $250,30
Stockholders' equity (deficit)
Common stock .01 par value; 50,000,000 shares
authorized, 8,425,944 shares issued
and outstanding 84,259
Additional paid-in capital 1,469,117
Accumulated deficit (1,802,950)
Total stockholders' equity (deficit) (249,574)
$ 732
See accompanying note to condensed financial statements.
</TABLE>
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<TABLE>
UNITED TRANS-WESTERN, INC.
Condensed Statements of Operations
(Unaudited)
<CAPTION>
Six Months Ended Three Months Ended
June 30 June 30
1995 1994 1995 1994
---------------------- ---------------------
<S> <C> <C> <C> <C>
Revenues $ - $ - $ - $ -
General and administrative expenses 6,830 50,219 5,022 25,077
Income (loss) from operations (6,830) (50,219) (5,022) (25,077)
Non-operating income (expense)
Interest expense (9,756) (9,281) (4,956) (4,500)
Loss on sale of oil and gas
properties - (60,155) - -
Net loss $(16,586) $(119,655) $(9,978) $(29,577)
Net income (loss) per common
and common equivalent share $ - $ - $ - $ -
Weighted average number of
common shares outstanding 8,425,944 8,425,944 8,425,944 8,425,944
See accompanying note to condensed financial statements
</TABLE>
<TABLE>
UNITED TRANS-WESTERN, INC.
Condensed Statements of Cash Flows
(Unaudited)
<CAPTION>
Six Months Ended
June 30
1995 1994
<S> ------------------------
Cash flows from operating activities: <C> <C>
Net income (loss) $ (16,586) $ (119,655)
Adjustments to reconcile net income to net cash
provided by operating activities:
Decrease (increase) in accounts receivable - 133,138
Increase (decrease) in accounts payable and
accrued expenses 7,485 (40,011)
Interest added to debt to shareholders 9,756 8,567
Loss on sale of oil and gas properties - 60,155
Net cash provided by (used for)
operating activities 655 42,194
Cash flows from investing activities:
Proceeds from sale of oil and gas properties, net - 901,316
Net cash provided by investing activities - 901,316
Cash flows from financing activities:
Repayments of long-term debt - (1,136,208)
Proceeds from shareholders - 15,500
Net cash (used) for financing activities (1,120,708)
Net increase (decrease) in cash - (177,198)
Cash at beginning of period 77 178,809
Cash at end of period $ 732 $ 1,611
See accompanying note to condensed financial statements.
</TABLE>
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UNITED TRANS-WESTERN, INC.
NOTE TO CONDENSED FINANCIAL STATEMENTS
The accompanying condensed financial statements and related note of
United Trans-Western, Inc. are unaudited. However, in management's
opinion all adjustments necessary for a fair presentation of the
results of operations, financial position and cash flows for the
six months ended June 30, 1995 have been made. Such statements are
presented in accordance with the requirements for Form 10-QSB and
do not include all disclosures normally required by generally
accepted accounting principles or those normally made in Form 10-
KSB. Results of operations for the six months ended June 30, 1995
are not necessarily indicative of results for the full year of
1995.
ITEM 2. Management's Discussion and Analysis of Financial
Condition and Results of Operations.
Results of Operations
In January of 1994, the Company sold substantially all of its oil
and gas properties in a transaction more fully described in the
Company's Form 10-K for the year ended December 31, 1993 and the
Information Statement to Stockholders dated January 5, 1994. As a
result of the Company's inactivity since this transaction, the
Company has no revenues from continuing operations for the six
months ended June 30, 1995. The Company has been inactive since
January, 1994 and the funds necessary to cover general and
administrative expenses have come from loans from affiliates.
General and administrative expenses for the six months ended June
30, 1995 are primarily related to completion of the property sale
and filing the Company's annual Form 10-KSB.
The major shareholders of the Company are continuing to evaluate
opportunities to best utilize the Company's structure in achieving
their overall objectives. Until operations have been
reestablished, the major shareholder's have agreed to continue to
fund ongoing costs to maintain the viability of the Company.
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UNITED TRANS-WESTERN, INC.
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 Matters to a Vote of Security Holders
NONE
Item 5 - Other Information
NONE
Item 6 - Exhibits and Reports on Form 8-K
NONE
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SIGNATURE
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.
UNITED TRANS-WESTERN, INC.
J. W. Brown
By:
---------------------------------------------
J. W. Brown
President
August 10, 1995
Allison C. Hammond
By:
---------------------------------------------
Allison C. Hammond
Treasurer, Secretary
