U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-QSB
(Mark One)
[ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarter ended November 30, 1997
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ________________ to __________________
Commission File No. 2-88678-NY
MEDI-DATA INTERNATIONAL, INC.
- --------------------------------------------------------------------------------
(Name of small business issuer in its charter)
New York 11-2653474
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(State or other jurisdiction (I.R.S. Employer
of incorporation) Identification No.)
20 Red Ground Road, Old Westbury, New York 11568
- --------------------------------------------------------------------------------
(Address of principal executive offices)
Issuer's telephone number: (516) 626-0360
- --------------------------------------------------------------------------------
Securities registered under Section 12(b) of the Exchange Act: None
Securities registered under Section 12(g) of the Exchange Act:
Common Stock, $0.001 Par Value
(Title of Class)
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 the past 90 days.
Yes [ X ] No [ ]
Number of shares outstanding of the issuer's common equity, as of January
13, 1998 (exclusive of securities convertible into common equity): 9,212,551
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<TABLE>
<CAPTION>
MEDI-DATA INTERNATIONAL, INC.
BALANCE SHEETS
Unaudited
November 30 February 28
1997 1997
----------- -----------
ASSETS
<S> <C> <C>
CURRENT ASSETS
Cash, including money market funds of $63 ................. $ 66 $ 128
Due from shareholder ...................................... 5,650 5,650
----------- -----------
TOTAL ASSETS ..................................... $ 5,716 $ 5,778
=========== ===========
LIABILITIES AND SHAREHOLDERS' DEFICIENCY IN ASSETS
CURRENT LIABILITIES
Due to shareholders ....................................... $ 400 $ 400
Accrued expenses and other current liabilities ............ 61,716 61,778
----------- -----------
Total Current Liabilities ........................ 62,116 62,178
----------- -----------
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' DEFICIENCY IN ASSETS
Common stock, $.001 par value 50,000,000 shares authorized,
9,213,051 issued and outstanding ........................ 9,213 9,213
Additional paid-in capital ................................ 993,954 993,954
Accumulated Deficit ....................................... (1,059,567) (1,059,567)
----------- -----------
Total Shareholders' Deficiency in Assets ......... (56,400) (56,400)
----------- -----------
TOTAL LIABILITIES AND
SHAREHOLDERS' DEFICIENCY IN ASSETS ............. $ 5,716 $ 5,778
=========== ===========
</TABLE>
See accompanying notes to financial statements
<PAGE>
<TABLE>
<CAPTION>
MEDI-DATA INTERNATIONAL, INC.
UNAUDITED STATEMENT OF OPERATIONS
FOR THE THREE MONTHS ENDED NOVEMBER 30,
1997 1996
----------- -----------
<S> <C> <C>
Costs & Expenses:
Selling, general and administrative expenses ..... $ 0 $ 470
----------- -----------
Loss before other income and state income taxes .. 0 (470)
----------- -----------
Other Income (Expenses):
Interest and dividend income ..................... 0 1
----------- -----------
Total Other Income (Expense) ............ 0 1
Income (Loss) before state income taxes ..... 0 (469)
State income taxes .......................... 0 0
----------- -----------
Net Income (Loss) ....................... 0 (469)
=========== ===========
Accumulated Deficit - beginning ............. (1,059,567) (1,057,821)
----------- -----------
Accumulated Deficit- end .................... $(1,059,567) $(1,058,290)
=========== ===========
Earnings per share .......................... $ 0.000 $ 0.0000
=========== ===========
Primary and Fully Diluted shares ............ 9,212,551 9,212,551
=========== ===========
</TABLE>
See accompanying notes to financial statements
<PAGE>
<TABLE>
<CAPTION>
MEDI-DATA INTERNATIONAL, INC.
UNAUDITED STATEMENT OF OPERATIONS
FOR THE NINE MONTHS ENDED NOVEMBER 30,
1997 1996
----------- -----------
<S> <C> <C>
Costs & Expenses:
Selling, general and administrative expenses ..... $ 0 $ 720
----------- -----------
Loss before other income and state income taxes .. 0 (720)
----------- -----------
Other Income (Expenses):
Interest and dividend income ..................... 0 2
----------- -----------
Total Other Income (Expense) ............ 0 2
Income (Loss) before state income taxes ..... 0 (718)
State income taxes .......................... 0 0
----------- -----------
Net Income (Loss) ....................... 0 (718)
=========== ===========
Accumulated Deficit - beginning ............. (1,059,567) (1,057,572)
----------- -----------
Accumulated Deficit- end .................... $(1,059,567) $(1,058,290)
=========== ===========
Earnings per share .......................... $ 0.000 $ 0.0000
=========== ===========
Primary and Fully Diluted shares ............ 9,212,551 9,212,551
=========== ===========
</TABLE>
See accompanying notes to financial statements
<PAGE>
<TABLE>
<CAPTION>
MEDI-DATA INTERNATIONAL, INC.
UNAUDITED STATEMENTS OF CASH FLOWS
FOR THE NINE MONTHS ENDED NOVEMBER 30,
1997 1996
----- -----
<S> <C> <C>
Cash flows from operating activities ...................... 0 (718)
----- -----
Net Income (Loss)
Adjustments to reconcile net income to net cash
provided by (used in) operating activities
(Increase) Decrease In:
Prepaid Income Taxes ............................. 0 (293)
Other Assets...................................... 0 600
Increase (decrease) in:
Accrued expenses and other current liabilities ... (62) (706)
----- -----
Net cash used in operating activities ....... (389) (1,117)
Cash flow from financing activities
Advances of shareholder loans............. 350 400
Net increase(decrease) in cash and equivalent (39) (717)
Cash and cash equivalents - beginning ....... 128 845
----- -----
Cash and cash equivalents - end ............. $ 89 $ 128
===== =====
<CAPTION>
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid for interest and taxes was as follows: 1997 1996
---- ----
<S> <C> <C>
Interest - -
Taxes 388 -0-
</TABLE>
See accompanying notes to financial statements
<PAGE>
MEDI-DATA INTERNATIONAL, INC.
NOTES TO FINANCIAL STATEMENTS
FOR THE NINE MONTHS ENDED NOVEMBER 30, 1997 AND 1996
1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BASIS OF PRESENTATION
The Company is not actively engaged in any trade or business.
The financial statements of the Company are presented on a
condensed basis. In the opinion of management, the
accompanying unaudited financial information contains all the
necessary adjustments to fairly present the financial position
of the Company as of November 30, 1997 and 1996 and for the
periods then ended.
PER SHARE DATA
Loss per share is based on the weighted average number of
shares of common stock outstanding during each period.
Item 2. Management's Discussion and Analysis of Financial Condition and Results
of Operations.
Results of Operations
For the nine months ended August 31, 1997, the Company had no activity. For the
six months ended August 31, 1996 the Company had a loss of $249 as a result of a
filing fee. For the year ended February 28, 1997 the Company had a net loss of
$1,995 as compared to a net income of $2,665 for the year ended February 29,
1996.
Liquidity and Capital Resources
The Company ceased all previous operations in April 1988, and for the quarters
ended November 30, 1997 and 1996 the company had no operations or income from
operations. All securities were sold by the fiscal year end of February 1996,
and the Company has not made any additional investments. At November 30, 1997
and 1996 the Company has a shareholders' deficiency of $1,059,567 and $1,057,821
respectively.
<PAGE>
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to be signed by the
undersigned, thereunto duly authorized.
Dated: January 13, 1998 MEDI DATA INTERNATIONAL, INC.
/S/ TERRY BROOKS
----------------
Terry Brooks, President
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> NOV-30-1997
<CASH> 66
<SECURITIES> 0
<RECEIVABLES> 5,650
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 5,716
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 5,716
<CURRENT-LIABILITIES> 62,116
<BONDS> 0
0
0
<COMMON> 9,213
<OTHER-SE> (65,613)
<TOTAL-LIABILITY-AND-EQUITY> 5,716
<SALES> 0
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 0
<INCOME-TAX> 0
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 0
<EPS-PRIMARY> .000
<EPS-DILUTED> .000
</TABLE>
