U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-QSB
(Mark One)
Quarterly report under Section 13, or 15 (d) of the Securities Exchange
Act of 1934
For the quarterly period ended January 31, 1996
Transition report under Section 13 or 15 (d) of the Exchange Act
For the transition period from to
Commission file number 0-12122
DANZAR INVESTMENT GROUP, INC.
(Exact Name of Small Business Issuer as Specified in Its Charter):
Colorado 84-0601802
(State or Other Jurisdiction of (I.R.S. Employer
Incorporation or Organization) Identification No.)
17770 Preston Road, Dallas, Texas 75252
(Address of Principal Executive Offices)
(214) 733-3005
(Issuer's Telephone Number, Including Area Code)
(Former Name, Former Address and Former Fiscal Year, if Changed Since Last
Report)
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 past 90 days.
Yes No
APPLICABLE ONLY TO ISSUERS INVOLVED IN
BANKRUPTCY PROCEEDINGS DURING THE
PRECEDING FIVE YEARS
Check whether the registrant filed all documents and reports required to be
filed by Section 12, 13, or 15 (d) of the Exchange Act after the distribution of
securities under a plan confirmed by a court.
Yes No
APPLICABLE ONLY TO CORPORATE ISSUERS
State the number of shares outstanding of each of the issuer's classes of
common equity, as of the latest practicable date: 74,940,317, common stock, no
par value.
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DANZAR INVESTMENT GROUP INC.
I N D E X
Page No.
Part I FINANCIAL INFORMATION:
Item 1. Condensed Balance
Sheets 3
Condensed Statements of
Operations 4
Condensed Statements of
Cash Flows 5
Notes to Condensed
Financial Statements
(unaudited) 6
Item 2. Management's Discussion
and Analysis of Financial
Condition and Results of
Operations 6
Part II OTHER INFORMATION 7
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DANZAR INVESTMENT GROUP INC.
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements
CONDENSED BALANCE SHEETS
ASSETS
January 31, 1996 April 30, 1995
(Unaudited) (Audited)
<S> <C> <C>
Cash $ 66 $ 66
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Accounts payable $ 5,226 $ 4,134
Advances from officer and
affiliates 300 300
Total current liabilities 5,526 4,434
Stockholders' Equity (Deficit):
Common stock no par value,
75,000,000 shares authorized;
74,940,317 shares issued
at July 31, 1995 and
April 30, 1995 9,481 9,481
Additional paid in capital 873,216 873,216
Deficit (887,024) (885,932)
total (3,963) (3,235)
Less treasury stock, 68,353
shares at cost (1,133) (1,133)
total (5,460) (4,368)
$ 66 $ 66
See accompanying notes to these financial statements.
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DANZAR INVESTMENT GROUP INC.
CONDENSED STATEMENTS OF OPERATIONS
(UNAUDITED)
Nine Months Ended
January 31,
1996 1995
<S> <C> <C>
Income $ - $ -
Expenses 1,093 729
Loss from operations (1,093) (729)
Provision for taxes $ - $ -
NET LOSS $ (1,093) $ (729)
LOSS PER COMMON SHARE* $ * $ *
WEIGHTED AVERAGE NUMBER OF
SHARES OUTSTANDING 74,940,317 74,940,317
*Net loss is less than $0.001 per share
See accompanying notes to these financial statements.
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DANZAR INVESTMENT GROUP INC.
CONDENSED STATEMENTS OF CASH FLOWS
(UNAUDITED)
Nine Months Ended
January 31,
1996 1995
<S> <C> <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
Loss from operations $(1,093) $ (729)
Increase in accounts payable 1,093 729
Increase in accrued expenses - -
Net cash used by operating activities - -
CASH FLOWS FROM INVESTING ACTIVITIES - -
CASH FLOWS FROM FINANCING ACTIVITIES:
Loan from Affiliate - -
Net cash provided by financing activities - -
NET INCREASE (DECREASE) IN CASH - -
CASH AT BEGINNING OF PERIOD 66 66
CASH AT END OF PERIOD $ 66 $ 66
SUPPLEMENTAL INFORMATION:
Cash paid for interest $ - $ -
Cash paid for taxes $ - $ -
See accompanying notes to these financial statements.
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DANZAR INVESTMENT GROUP INC. AND SUBSIDIARIES
NOTES TO CONDENSED FINANCIAL STATEMENTS
(UNAUDITED)
Financial Statements
The accompanying unaudited financial statements have been prepared in accordance
with the instructions to Form 10-QSB and do not include all of the information
and footnotes required by generally accepted accounting principles for complete
financial statements.
In the opinion of management, all adjustments (consisting of normal recurring
accruals) considered necessary for a fair presentation have been included.
These statements should be read in conjunction with the audited financial
statements and notes thereto included in the Registrant's annual Form 10-KSB for
the year ended April 30, 1995. The results of the operations for the nine-month
period ended July 31, 1994 are not necessarily indicative of the operating
results for the fiscal year ending April 30, 1996.
Item 2. Management Discussion and Analysis of Financial Condition and
Results of Operations
No operating revenues were received during the six months ended October 31, 1995
and 1994. For the six months ended October 31, 1995, loss before tax was $729
compared to $2,268 loss for the six months ended October 31, 1994. General and
administrative expenses result from expenses related to SEC reporting
requirements and recordkeeping fees.
Liquidity and Capital Resources
The Registrant has met its shortfall of funds from operations during prior
periods by the sale of its majority owned subsidiaries assets, and by borrowing
from its Directors and companies affiliated with its Directors.
The Registrant's present needs for liquidity principally relates to its
obligations for its SEC reporting requirements and the minimal requirements for
record keeping. The Registrant has negligible liquid assets available for its
continuing needs. At present the Registrant has no material sources of external
liquidity, and in the absence of any additional liquid resources, the Registrant
will be faced with cash flow problems.
<PAGE>
PART II - OTHER INFORMATION
Item 6. Exhibits and Reports on Form 8-K.
(a) Exhibits:
(1) Articles of
Incorporation: Incorporated by reference to
Registration Statement filed
on Form 10, May 10, 1984;
File No. 0-12122
(2) Bylaws: Incorporated by reference as
immediately above.
(b) Reports on Form 8-K
None
SIGNATURES
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 thereto duly authorized.
DANZAR INVESTMENT GROUP INC.
(Registrant)
By:/s/ Daniel Wettreich
DANIEL WETTREICH, PRESIDENT
Date: March 14, 1996
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> APR-30-1996
<PERIOD-END> JAN-31-1996
<CASH> 66
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 66
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 66
<CURRENT-LIABILITIES> 5526
<BONDS> 0
0
0
<COMMON> 9481
<OTHER-SE> (14941)
<TOTAL-LIABILITY-AND-EQUITY> 66
<SALES> 0
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 1093
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> (1093)
<INCOME-TAX> 0
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (1093)
<EPS-PRIMARY> 0
<EPS-DILUTED> 0
</TABLE>
