U. S. Securities and Exchange Commission
Washington, D. C. 20549
FORM 10-QSB
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the quarterly period ended June 30, 2000
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the transition period from to
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Commission File No.
2-86724D
ENCIBAR, INC.
(Name of Small Business Issuer in its Charter)
UTAH 87-0396692
(State or Other Jurisdiction of (I.R.S. Employer I.D. No.)
incorporation or organization)
5525 South 900 East, Suite 110
Salt Lake City, Utah 84117
(Address of Principal Executive Offices)
Issuer's Telephone Number: (801)262-8844
N/A
-----------
(Former Name or Former Address, if changed since last Report)
Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Sections 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 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 the past 90 days.
(1) Yes X No (2) Yes X No
---- ---- ---- ----
<PAGE>
APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE
PRECEDING FIVE YEARS
None; Not applicable
APPLICABLE ONLY TO CORPORATE ISSUERS Indicate the number of shares
outstanding of each of the Registrant's classes of common stock, as of the
latest practicable date:
JULY 15, 2000
1,904,190
DOCUMENTS INCORPORATED BY REFERENCE
A description of any "Documents Incorporated by Reference" is contained in
Item 6 of this Report.
PART I - FINANCIAL INFORMATION
Item 1.Financial Statements.
The Financial Statements of the Registrant required to be filed with this
10-QSB Quarterly Report were prepared by management and commence on the
following page, together with related Notes. In the opinion of management, the
Financial Statements fairly present the financial condition of the Registrant.
<PAGE>
<TABLE>
<CAPTION>
Encibar, Inc.
BALANCE SHEETS
For the Period Ending June 30, 2000 and the Year Ended March 31, 2000
06/30/2000 03/31/2000
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[Unaudited]
ASSETS
Assets
<S> <C> <C>
Cash $ 15,216 $ 0
----------------- ---------
Total Assets $ 15,216 $ 0
================= =========
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities:
Loans from stockholders $ 1,943 $ 1,341
Accounts Payable 2,266 2,266
Income Taxes Payable 0 0
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Total Current Liabilities 4,209 3,607
Notes Payable $ 16,000 $ 0
----------------- ---------
Total Liabilities 20,209 3,607
Stockholders' Deficit:
Common Stock, $.001 par value;
authorized 100,000,000 shares; issued and
outstanding, 1,904,190 shares 1,904 1,904
Paid-in Capital 252,575 252,575
Accumulated Deficit (259,472) (258,086)
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Total Stockholders' Deficit (4,993) (3,607)
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Total Liabilities and Stockholders' Deficit $ 15,216 0
================= =========
NOTE TO FINANCIAL STATEMENTS: Interim financial statements reflect all
adjustments which are, in the opinion of management, necessary to a fair
statement of the results for the periods. The June 30, 2000 balance sheet has
been derived from the audited financial statements. These interim financial
statements conform with the requirements for interim financial statements and
consequently do not include all the disclosures normally required by generally
accepted accounting principles.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Encibar, Inc.
STATEMENTS OF OPERATIONS
For the Three Month Periods Ended June 30, 1999 and 2000, and for the Period
from Reactivation [March 22, 1999] through June 30, 2000
Three Months Three Months Reactivation
Ended Ended through
06/30/2000 06/30/1999 06/30/2000
---------------- ------------ ------------
[Unaudited] [Unaudited] [Unaudited]
REVENUE
<S> <C> <C> <C>
Income $ 0 $ 0 $ 0
---------------- ----------- ---------
NET REVENUE 0 $ 0 $ 0
Operating Expenses
Operating Expenses 1,386 1,454 3,311
---------------- ----------- ---------
Total Operating Expenses 1,386 1,454 3,311
---------------- ----------- ---------
Net Income Before Taxes $ (1,386) (1,454) (3,311)
================ =========== =========
Current Year Provision for Income Taxes 0 0 1,284
Net loss (1,386) (1,454) (4,595)
Loss Per Share $ (0.01) $ (0.01) $ (0.01)
================ =========== =========
Weighted Average Shares Outstanding 1,904,190 612,440 1,761,639
================ =========== =========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Encibar, Inc.
STATEMENTS OF CASH FLOWS
For the Three Month Periods Ended June 30, 1999 and 2000, and for the Period
from Reactivation [March 22, 1999] through June 30, 2000
Three Months Three Months Reactivation
Ended Ended through
06/30/2000 06/30/1999 06/30/2000
-------------- ------------ ---------------
[Unaudited] [Unaudited] [Unaudited]
Cash Flows Used For Operating Activities
-------------------------------------------------------
<S> <C> <C> <C>
(Net Loss) $ (1,386) $ (1,454) $ (4,595)
Adjustments to reconcile net loss to net cash
used in operating activities:
Shares issued for forgiveness of debt $ 0 $ 0 $ 0
Increase/(Decrease) in accounts payable
Increase/(Decrease) in loans from shareholder $ 602 $ 1,454 $ 3,811
-------------- ----------- -----------
Net Increase/(Decrease) in Cash from Operating Activities (784) $ 0 $ (784)
============== =========== ===========
Cash Flows Provided by Financing Activities
-------------------------------------------------------
Increase in Notes Payable $ 16,000 $ 0 $ 16,000
-------------- ----------- -----------
-------------- ----------- -----------
Net Increase/(Decrease) in Cash from Financing $ 16,000 0 16,000
Activities ============== =========== ===========
Net Increase In Cash $ 15,216 $ 0 $ 15,216
Beginning Cash Balance $ 0 $ 0 $ 0
Ending Cash Balance $ 15,216 $ 0 $ 15,216
-------------- ----------- -----------
</TABLE>
<PAGE>
Item 2.Management's Discussion and Analysis or Plan of Operation.
Plan of Operation.
To further the Company's business model, management received funding in the
amount of $16,000, in debt financing. Managment plans on using the $16,000 to
purchase snowmobiles and trailers. Management is currently looking to acquire
both snowmobiles and trailers, also Management is working on securing liability
insurance coverage. Once the equipment is acquired management will begin
advertising through the Company's webpage and local newspapers.
Results of Operations.
The Company received no revenue during the quarterly period ended June 30,
2000, and incurred expenses of $1,386, stemming from general and administrative
expenses.
Liquidity.
At June 30, 2000, the Company had total current assets of $15,216 and total
liabilities of $20,209.
<PAGE>
PART II - OTHER INFORMATION
Item 1.Legal Proceedings.
None; not applicable.
Item 2.Changes in Securities.
None; not applicable.
Item 3.Defaults Upon Senior Securities.
None; not applicable.
Item 4.Submission of Matters to a Vote of Security Holders.
None; not applicable.
Item 5.Other Information.
None; not applicable
Item 6.Exhibits and Reports on Form 8-K.
(a)Exhibits.*
None; Not Applicable.
(b)Reports on Form 8-K.
None; Not applicable
<PAGE>
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 thereunto duly authorized.
ENCIBAR, INC.
Date:7/25/00 /S/ SARAH EDSON
Sarah K. Edson, President and Director
Date:7/25/00 /S/ LISA HOWELLS
Lisa J. Howells, Vice President, Treasurer and Director
