UNITED STATES
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
OR
[ ] 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 1-1337
-----------------------------
CIMARRON-GRANDVIEW GROUP, INC.
(Exact name of registrant as specified in its charter)
Washington 91-0239195
(State or other jurisdiction of incorporation (I.R.S. Employer
or organization) Identification No.)
601 West Main Avenue, Suite 714
Spokane, WA 99201-0677 99201-0677
(Address of principal executive offices) (Zip Code)
(509) 455-9077
(Issuer's telephone number, including area code)
Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 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 for at least the past 90 days. Yes No
State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date. 16,863,076
Transitional Small Business Disclosure Format (check one);
Yes No X
<PAGE> 1
CIMARRON-GRANDVIEW GROUP, INC.
FORM 10-QSB
FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2000
PART I. - FINANCIAL INFORMATION
Item 1 Financial Information
CIMARRON-GRANDVIEW GROUP, INC.
BALANCE SHEET (UNAUDITED) SEPTEMBER 30, 2000
------------------------- ------------------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents:
Cash in bank $ 11,514
Temporary cash investments 4,731
-----------------
Total cash and cash equivalents 16,245
Note receivable 100,000
-----------------
Total current assets 116,245
INVESTMENTS 10,673
PARTNERSHIP PROPERTIES 4,122
-----------------
$ 131,040
=================
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $ -
STOCKHOLDERS' EQUITY:
Common stock--50,000,000 shares, no par value,
authorized; 16,862,792 shares issued and outstanding $ 693,949
Note receivable, stock purchase (4,320)
Accumulated other comprehensive income:
Unrealized loss, marketable securities (26,838)
Retained deficit (531,751)
-----------------
Total stockholders' equity 131,040
-----------------
$ 131,040
=================
See accompanying note to financial statements.
<PAGE> 2
CIMARRON-GRANDVIEW GROUP, INC.
STATEMENTS OF INCOME (UNAUDITED)
-----------------------------------
Three Months Year to Date
Ended September 30, Ended September 30,
-------------------------- --------------------------
2000 1999 2000 1999
------------ ------------ ------------ ------------
INCOME:
Dividends and interest $ 871 $ 1,957 $ 4,132 $ 3,153
------------ ------------ ------------ ------------
EXPENSES:
Professional fees 23,388 151 31,670 6,438
Directors' fees - - - 150
Office 524 412 1,124 1,285
Real and property taxes - - 530 -
Taxes, licenses, and fees 36 50 661 1,303
------------ ------------ ------------ ------------
23,948 613 33,985 9,176
------------ ------------ ------------ ------------
INCOME (LOSS)
BEFORE OTHER INCOME (23,077) 1,344 (29,853) (6,023)
OTHER INCOME:
Gain on sale of investment - - - 24,487
------------ ------------ ------------ ------------
NET INCOME (LOSS) $ (23,077) $ 1,344 $ (29,853) $ 18,464
============ ============ ============ ============
BASIC INCOME PER SHARE
(based on weighted average
average shares outstanding) NIL NIL NIL NIL
============ ============ ============ ============
See accompanying note to financial statements.
<PAGE> 3
CIMARRON-GRANDVIEW GROUP, INC.
STATEMENTS OF CASH FLOWS (UNAUDITED)
----------------------------------------
Nine Months Ended
September 30,
--------------------------
2000 1999
------------ ------------
INCREASE (DECREASE) IN CASH AND CASH
EQUIVALENTS
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss) $ (29,853) $ 18,464
Adjustments to reconcile net income (loss)
to net cash used in operating activities:
Gain on sale of investment - (24,487)
Decrease in accounts payable - (1,500)
------------ ------------
Net cash used in operating activities (29,853) (7,523)
------------ ------------
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sale of investment - 24,487
Increase in note receivable (100,000) -
------------ ------------
(100,000) 24,487
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of stock for services
- 150
Proceeds on note receivable issued for
stock purchase 2,000 -
Proceeds from sale of common stock - 100,000
------------ ------------
Net cash provided by financing activities 2,000 100,150
------------ ------------
NET INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS (27,853) 117,114
CASH AND CASH EQUIVALENTS,
BEGINNING OF PERIOD 144,098 28,688
------------ ------------
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 16,245 $ 145,802
============ ============
See accompanying note to financial statements.
<PAGE> 4
CIMARRON-GRANDVIEW GROUP, INC.
NOTE TO FINANCIAL STATEMENTS
BASIS OF PRESENTATION:
The financial statements included herein have been prepared by
Cimarron-Grandview Group, Inc. (the Company), without audit, pursuant to the
rules and regulations of the Securities and Exchange Commission (the SEC).
Certain information and footnote disclosures normally included in financial
statements prepared in accordance with generally accepted accounting principles
have been omitted pursuant to such SEC rules and regulations. In the opinion of
management of the Company, the foregoing statements contain all adjustments
necessary to present fairly the financial position of the Company as of
September 30, 2000, and its results of operations for the nine-month periods
ended September 30, 2000 and 1999, and its cash flows for the nine-month periods
ended September 30, 2000 and 1999. The interim results reflected in the
foregoing financial statements are not considered indicative of the results
expected for the full fiscal year.
<PAGE> 5
Item 2. Management's Discussion and Analysis or Plan of Operation
The Registrant has no revenues from operations. It's only income has been
derived from interest.
Our plan of operation for the next twelve months will consist of finalizing the
share exchange with Full Moon Universe, Inc. ("Full Moon"). Full Moon produces
and distributes motion pictures for direct to video release. This means their
films are not released to play in theaters prior to being released on video.
Their films are primarily horror and erotic theme based. Full Moon also
manufactures a line of action figures and film-related merchandise which it
sells through its internet web site and through mass merchandisers.
Under the terms of the Share Exchange Agreement the shareholders of Full Moon
will exchange their shares of Full Moon common stock for shares of
Cimarron-Grandview Common Stock. Immediately after the share exchange the
Company will be owned 15% by our current shareholders and 85% by the current
Full Moon Shareholders.
Under the terms of the Share Exchange Agreement, as amended, our shareholders
are required to approve a one for five reverse split of the Company's Common
Stock. The Company has set November 2, 2000 as the record date for a Special
Meeting of the Company's shareholders to approve certain amendments to the
Articles of Incorporation, including the one for five reverse split and changing
our name to Full Moon Universe, IncWe anticipate mailing an Information
Statement to our shareholders on or about December 1, 2000 with regard to the
Special Meeting of Shareholders.
In the event that the share exchange is terminated for any reason our plan of
operation for the next twelve months will again consist of attempting to acquire
an interest in a business opportunity.
PART II OTHER INFORMATION
Item 6. Exhibits and Reports of Form 8-K
(a) Pursuant to Item 601 following Material Contracts are attached hereto:
Exhibit 10(a) Share Exchange Agreement
Exhibit 10(b) Amended Share Exchange Agreement
(b) Reports on Form 8-K
During the Quarter ended September 30, 2000 the Registrant filed one Form 8-K on
August 29, 2000 relating to the Share Exchange Agreement with Full Moon
Universe, Inc.
SIGNATURES
In accordance with Section 13 or 15(d) of the Exchange Act the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
CIMARRON-GRANDVIEW GROUP, INC.
/s/ Gregory B. Lipsker
BY: ------------------------------------ DATE: November 16, 2000
GREGORY B. LIPSKER, President
/s/ William R. Green
BY: ------------------------------------ DATE: November 16, 2000
WILLIAM R. GREEN, Secretary
