FORM 10-QSB
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
Quarterly Report Under Section 13 or 15 (d)
Of the Securities Exchange Act of 1934
For Quarter Ended September 30, 2000
Commission File Number 0-12522
EMI, Inc.
(Exact name of registrant as specified in its charter)
NEVADA 87-0338148
(State or other jurisdiction of (IRS Employer
incorporation or organization) Identification No.)
6975 SOUTH UNION PARK CENTER #600
MIDVALE, UTAH 84047
(Address of principal executive offices)
Registrant's telephone number
including area code (801) 256-9600
Former Address, if changed since last report
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 Exchange Act of
1934 during the preceding 12 months (or such shorter period that the
registrant was required to file such reports)
Yes No X
and (2) has been subject to such filing requirements for the past 90 days.
Yes X No
25,315,223
(Number of shares of common
stock the registrant had
outstanding as of November 13, 2000)
PART 1
ITEM 1 - FINANCIAL STATEMENTS
The condensed financial statements included herein have been prepared by
the Company, without audit, pursuant to the rules and regulations of the
Securities and Exchange Commission. Certain information and footnote
disclosures normally included in financial statements prepared in accordance
with generally accepted accounting principles have been condensed
or omitted pursuant to such rules and regulations, although the Company
believes that the disclosures are adequate to make the information presented
not misleading.
In the opinion of the Company, all adjustments, consisting of only normal
recurring adjustments, necessary to present fairly the financial position of
the Company as of September 30, 2000 and the results of its operations and
changes in its financial position from September 30, 1999 through September
30, 2000 have been made. The results of its operations for such interim period
is not necessarily indicative of the results to be expected for the entire year.
EMI, INC.
Balance Sheet
ASSETS
September 30, March 31,
2000 2000
(unaudited)
TOTAL ASSETS $ - $ -
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable 933 933
TOTAL LIABILITIES 933 933
STOCKHOLDERS' EQUITY
Common Stock 100,000,000 shares
authorized at $.001 par value;
25,315,223 and 5,315,223 shares
issued and outstanding 25,315 5,315
Capital in Excess of Par Value 1,635,573 1,635,573
Accumulated Deficit (1,661,821) (1,641,821)
Total Stockholders' Equity (933) (933)
TOTAL LIABILITIES AND STOCKHOLDERS'
EQUITY $ - $ -
EMI, INC.
Statements of Operations
(unaudited)
For the Six For the Six
Months Ended Months Ended
September 30, September 30,
2000 1999
REVENUE $ - $ -
EXPENSES
General and Administrative 20,000 -
Total Expenses 20,000 -
NET INCOME (LOSS) - Before Taxes $ (20,000) $
Taxes - -
INCOME (LOSS) $ (20,000) $ -
Loss Per Common Share $ - $ -
Average Outstanding Shares 10,716,683 5,315,223
EMI, INC.
Statements of Cash Flows
(unaudited)
For the Six For the Six
Months Ended Months Ended
September 30, September 30,
2000 1999
CASH FLOWS FROM
OPERATING ACTIVITIES
Net Income (Loss) $ (20,000) $ -
Shares issued for services 20,000 -
- -
CASH FLOWS FROM
INVESTING ACTIVITIES - -
- -
CASH FLOWS FROM
FINANCING ACTIVITIES - -
- -
INCREASE (DECREASE) IN CASH
AND CASH EQUIVALENTS - -
CASH AND CASH EQUIVALENTS
AT THE BEGINNING OF PERIOD - -
CASH AND CASH EQUIVALENTS
AT END OF PERIOD $ - $ -
CASH PAID DURING THE PERIOD FOR:
Interest $ - $ -
Income Taxes (Including
Penalties & Interest) $ - $ -
EMI, INC.
Notes to the Financial Statements
September 30, 2000
NOTE 1 - INTERIM FINANCIAL STATEMENTS
The financial statements for the six months ended September 30, 2000
were prepared from the books and records of the Company. Management believes
that all adjustments have been made to the financial statements to make a
fair presentation of the financial condition of the Company as of September
30, 2000. The results of the three months are not indicative of a full
year of operation for the Company.
NOTE 2 - COMMON STOCK ISSUANCES
During the quarter, the Company issued 20,000,000 shares of stock to an
officer/director for services rendered.
ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS.
Liquidity and Capital Resources. The Registrant has approximately $(933) as
operating capital at September 30, 2000. The Registrant intends to raise
additional funds as needed through private placements with accredited and
sophisticated investors.
Results of Operation. Due to the lack of operations during the quarter
ended September 30, 2000, the registrant had net loss of $(20,000) compared
to $0 in the same period last year.
Plan of Operations. The Company is currently in the process of looking for
business opportunities to acquire or merge with. There is no guarantee that
management will be successful in finding such an opportunity. The Company is
also in the process of bringing all of its periodic reports current for filing
with the Securities and Exchange Commission. During this process, the Company
intends to raise operational capital through private placements.
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
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 authorized officer.
Dated November 13, 2000
EMI, Inc.
/s/ James Anderson
