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Previous: HUBCO INC, S-4, 1998-03-17 |
Next: PPT VISION INC, 10-Q, 1998-03-17 |
FORM 10-Q
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 the Period Ended Commission File No.
DECEMBER 31, 1997 2-78287-NY
FOOD CONCEPTS, INC.
(Exact name of Registrant as Specified in its Charter)
NEVADA 13-3124057
(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
6601 Lyons Road, Suite C-12, Coconut Creek, Fl 33073
(Address of Principal Executive Offices) Zip Code
Registrant's telephone number, including area code: (954) 420-0882
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 and Exchange
Act of 1934 during the preceding 12 months(or for shorter period that the
registrant was required to filed such reports), and (2) has been subject to
such filing requirements for the past 90 days.
Yes x No
APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDINGS DURING THE PRECEDING FIVE YEARS:
Indicate by check marks whether the issuer has filed all documents and
reports required to be filed by Sections 2, 13 or 15(d) of the Securities
Exchange Act of 1934 subsequent to the distribution of securities under
a plan confirmed by a court.
Yes No
APPLICABLE ONLY TO CORPORATE ISSUERS:
Indicate the number of shares outstanding of each of the issuers classes of
common stock, as of the latest practicable date.
Common Stock $.0001 par value, 19,861,744
(Title of Class) (Shares outstanding at December 31,1997)
<PAGE>
FOOD CONCEPTS, INC.
MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS
DECEMBER 31, 1997
The Company completed a reorganization on October 27, 1995 and filed an
8K which is hereby included by referenced thereto. An amended 8K was filed
on June 26, 1997.
LIQUIDITY AND CAPITAL RESOURCES
The Company's current assets are $240,167 as compared to current
liabilities of $142,192. The Company is fully operational and operating
profitably. Additional capital is currently being sought to increase the
Company's operating capacity.
PART II OTHER INFORMATION
Item 1 Legal Proceedings See 8K-A filed June 26, 1997
Item 2 Changes in Securities None
Item 3 Defaults Upon Senior Securities None
Item 4 Submission of Matters to None
Vote of Securities Holders
Item 5 Other Information None
Item 6 Exhibits and Reports on Form 8-K 8K-A filed June 26, 1997
<PAGE>SIGNATURES
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 hereunto duly authorized.
FOOD CONCEPTS, INC.
Registrant
By: /s/ Herb Glaubman
Herbert Glaubman, President
Dated: March 2, 1997
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C> <C> <C> <C>
<PERIOD-TYPE> YEAR YEAR 6-MOS 6-MOS
<FISCAL-YEAR-END> JUN-30-1998 JUN-30-1997 JUN-30-1998 JUN-30-1997
<PERIOD-END> DEC-31-1997 JUN-30-1997 DEC-31-1997 DEC-31-1996
<CASH> (36,311) (269) 0 0
<SECURITIES> 0 0 0 0
<RECEIVABLES> 132,820 110,654 0 0
<ALLOWANCES> 0 0 0 0
<INVENTORY> 116,408 152,776 0 0
<CURRENT-ASSETS> 228,031 263,911 0 0
<PP&E> 68,315 68,315 0 0
<DEPRECIATION> 44,240 38,385 0 0
<TOTAL-ASSETS> 271,107 312,842 0 0
<CURRENT-LIABILITIES> 141,424 100,416 0 0
<BONDS> 0 0 0 0
0 0 0 0
0 0 0 0
<COMMON> 19,862 19,862 0 0
<OTHER-SE> 109,821 192,564 0 0
<TOTAL-LIABILITY-AND-EQUITY> 271,107 312,842 0 0
<SALES> 0 0 373,169 670,972
<TOTAL-REVENUES> 0 0 373,169 670,972
<CGS> 0 0 151,544 273,641
<TOTAL-COSTS> 0 0 151,544 273,641
<OTHER-EXPENSES> 0 0 303,112 361,764
<LOSS-PROVISION> 0 0 0 0
<INTEREST-EXPENSE> 0 0 1,256 0
<INCOME-PRETAX> 0 0 (82,743) 35,567
<INCOME-TAX> 0 0 0 0
<INCOME-CONTINUING> 0 0 (82,743) 35,567
<DISCONTINUED> 0 0 0 0
<EXTRAORDINARY> 0 0 0 0
<CHANGES> 0 0 0 0
<NET-INCOME> 0 0 (82,743) 35,567
<EPS-PRIMARY> 0 0 (.004) .004
<EPS-DILUTED> 0 0 (.004) .004
</TABLE>
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