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Previous: YELLOW CORP, 8-K, 2001-01-16 |
Next: AVATEX CORP, 8-K, 2001-01-16 |
<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-QSB/A
AMENDMENT NO. 1 TO 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
Commission file number: 012612
CALENDAR CAPITAL, INC.
(Exact name of registrant as specified in its charter)
MINNESOTA 41-1442918
(State or other jurisdiction) (IRS Employer
of Incorporation) Identification Number)
RIVERPLACE, 65 MAIN STREET SE
SUITE 136
MINNEAPOLIS, MN 55414
(Address of Principal Executive Offices)
(612) 676-1436
(Registrant's Telephone Number, Including Area Code)
<PAGE>
Part I - Financial Information
ITEM 1. Financial Statements
Explanatory note: This Amendment No. 1 to the Form 10-QSB for the period ended
September 30, 2000, is filed solely to correct certain information in Part I,
Item 1, Financial Statements. The Financial Statements as previously filed (1)
contained line errors with regard to cash and cash equivalents, (2) failed to
contain information on write-off of investments, and (3) cited comparative
figures for 1999 that are not applicable for the reason given below.
*On January 1, 2000, Calendar Capital acquired all of the outstanding common
stock of Entrenaut, Inc., which was formed on July 1, 1999. For legal purposes,
Entrenaut, Inc. is a wholly-owned subsidiary of Calendar Capital, Inc. For
accounting purposes, the acquisition has been treated as an acquisition by
Entrenaut of Calendar Capital and as a recapitalization of Entrenaut. Calendar
Capital had residual assets and liabilities but essentially no activity between
1994 and 1999. The assets were transferred and liabilities were assumed at the
date of the acquisition. The historical financial statements prior to January 1,
2000, are those of Entrenaut, Inc. All share and per share information has been
restated for this transaction.
** The Notes to the Condensed Financial Statements were filed with the original
Form 10-QSB filed for the period ended September 30, 2000, and have not been
altered.
<PAGE>
CALENDAR CAPITAL, INC. AND SUBSIDIARY
DBA ENTRENAUT, INC.
CONDENSED CONSOLIDATED BALANCE SHEET - SEPTEMBER 30, 2000
(UNAUDITED)
<TABLE>
<S> <C>
ASSETS:
Current assets:
Cash $ 194
Prepaid and other 66,113
-------------
Total current assets 66,307
-------------
Property and equipment, net of accumulated depreciation
of $4,481 32,504
Investments 1,107,352
-------------
1,139,856
-------------
Total assets $ 1,206,163
=============
LIABILITIES AND SHAREHOLDERS' EQUITY:
Current liabilities:
Note payable, bank $ 250,000
Notes payable, other 230,000
Convertible debentures 873,750
Accounts payable 118,804
Accrued expenses 275,606
Due to related parties 560,410
-------------
Total current liabilities 2,308,570
-------------
Shareholders' equity:
Preferred stock:
Series B convertible, $.01 par value, 2,000,000 shares authorized;
1,763,200 shares issued and outstanding 17,632
Series C convertible, $.01 par value, 4,000,000 shares authorized;
3,992,128 shares issued and outstanding 39,921
Common stock, $.01 par value, 14,000,000 shares authorized;
12,976,418 shares issued and outstanding 129,764
Additional paid-in capital 665,663
Stock subscriptions receivable (124,000)
Accumulated deficit (1,831,387)
-------------
(1,102,407)
-------------
Total liabilities and shareholders' equity $ 1,206,163
=============
</TABLE>
See notes to condensed financial statements.**
<PAGE>
CALENDAR CAPITAL, INC. AND SUBSIDIARY
DBA ENTRENAUT, INC.
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
(UNAUDITED)
<TABLE>
<CAPTION>
September 30, 2000*
----------------------------------------
Three months Six months
ended ended
---------------- --------------------
<S> <C> <C>
Management and consulting fees $ 38,471 $ 189,113
Less direct costs 38,471 141,176
----------- -------------
Net revenues 0 47,937
General and administrative expenses 514,565 825,119
Write-off of investments 615,790 615,790
----------- -------------
Loss from operations (1,130,355) (1,392,872)
------------- -------------
Other income (expenses):
Interest:
Income 10,320 24,773
Expense (40,224) (65,224)
Equity in losses of affiliated companies (21,698) (48,033)
------------- -------------
(51,602) (88,484)
------------- -------------
Net loss $ (1,181,957) $ (1,481,456)
============= =============
Loss per common share, basic and diluted $ (.09) $ (.11)
============= =============
Weighted average number of common shares, basic and diluted 12,976,418 12,976,418
============= =============
</TABLE>
See notes to condensed financial statements.**
<PAGE>
CALENDAR CAPITAL, INC. AND SUBSIDIARY
DBA ENTRENAUT, INC.
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(UNAUDITED)
<TABLE>
<CAPTION>
Six months
ended
September 30,
2000*
-------------
<S> <C>
Cash flows from operating activities:
Net loss $ $ (1,481,456)
Adjustments to reconcile net loss to net cash used in
operating activities:
Warrant value adjustment (2,086)
Depreciation 3,356
Amortization 292,512
Write-off investments 615,790
Equity in losses of affiliated companies 48,033
Change in operating assets and liabilities:
Prepaids and other (20,015)
Accounts payable (35,601)
Accrued expenses 15,799
-----------
Net cash used in operating activities (563,668)
-----------
Cash flows from investing activities:
Purchase of property and equipment (10,507)
Investments:
Cash paid for common stock (20,000)
Advances to affiliates (216,641)
Cash paid for convertible note (150,000)
-----------
Net cash used in investing activities (397,148)
-----------
Cash flows from financing activities:
Proceeds from:
Note payable, bank 8,000
Notes payable, other 40,000
Advance from related parties 527,220
Convertible debentures 373,750
Payments on notes payable, other (10,000)
-----------
Net cash provided by financing activities 938,970
-----------
</TABLE>
See notes to condensed financial statements.**
<PAGE>
CALENDAR CAPITAL, INC. AND SUBSIDIARY
DBA ENTRENAUT, INC.
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(UNAUDITED)
<TABLE>
<CAPTION>
Six months
ended
September 30,
2000*
-----------
<S> <C>
Net decrease in cash $ (21,846)
Cash, beginning 22,040
-----------
Cash, ending $ 194
===========
Supplemental disclosure of cash flow information: Cash paid for:
Interest $ 18,443
===========
</TABLE>
See notes to condensed financial statements.**
<PAGE>
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused Amendment No. 1 to this report to be signed on its
behalf by the undersigned thereunto duly authorized.
Calendar Capital, Inc.
(Registrant)
By: /s/ Paul D. Crawford
-------------------------------------
Paul D. Crawford
Chief Executive Officer
Date: December 31, 2000
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