|
|
|
|
|
|
|
|
|
|
|
|
|
|
Previous: F&M BANCORP, S-4, 1998-10-15 |
Next: MAS FUNDS /MA/, 497, 1998-10-15 |
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 August 31, 1998
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
- --------------------------------------------------------------------------------
(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 October
13, 1998 (exclusive of securities convertible into common equity): 9,212,551
<PAGE>
<TABLE>
<CAPTION>
MEDI-DATA INTERNATIONAL, INC.
BALANCE SHEETS
Unaudited
August 31, May 31,
1998 1998
----------- -----------
ASSETS
<S> <C> <C>
CURRENT ASSETS
Cash, including money market funds of $63 ................. $ 0 $ 89
Due from shareholder ...................................... 4,600 5,650
----------- -----------
TOTAL ASSETS ..................................... $ 4,600 $ 5,739
=========== ===========
LIABILITIES AND SHAREHOLDERS' DEFICIENCY IN ASSETS
CURRENT LIABILITIES
Due to shareholders ....................................... $ -0- $ 750
Accrued expenses and other current liabilities ............ 61,384 61,764
----------- -----------
Total Current Liabilities ........................ 61,384 62,514
----------- -----------
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 ................................ 993,955 993,954
Accumulated Deficit ....................................... (1,059,952) (1,059,942)
----------- -----------
Total Shareholders' Deficiency in Assets ......... (56,784) (56,775)
----------- -----------
TOTAL LIABILITIES AND
SHAREHOLDERS' DEFICIENCY IN ASSETS ............. $ 4,600 $ 5,739
=========== ===========
</TABLE>
See accompanying notes to financial statements
<PAGE>
<TABLE>
<CAPTION>
MEDI-DATA INTERNATIONAL, INC.
UNAUDITED STATEMENT OF OPERATIONS
For the three months For the six months
ended Aug. 31, ended Aug. 31,
---------------------------- ----------------------------
1998 1997 1998 1997
----------- ----------- ----------- -----------
<S> <C> <C> <C> <C>
Costs & Expenses:
Selling, general and administrative expenses ..... $ 10 $ 0 $ 10 $ 0
----------- ----------- ----------- -----------
Loss before other income and state income taxes .. (10) 0 (10) 0
----------- ----------- ----------- -----------
Other Income (Expenses):
Interest and dividend income ..................... 0 0 0 0
----------- ----------- ----------- -----------
Total Other Income (Expense) ............ 0 0 0 0
Income (Loss) before state income taxes ..... (10) 0 (10) 0
State income taxes .......................... 0 0 0 0
----------- ----------- ----------- -----------
Net Income (Loss) ....................... (10) 0 (10) 0
=========== =========== =========== ===========
Accumulated Deficit - beginning ............. (1,059,942) (1,059,567) (1,059,942) (1,059,567)
----------- ----------- ----------- -----------
Accumulated Deficit- end .................... $(1,059,952) $(1,059,567) $(1,059,952) $(1,059,567)
=========== =========== =========== ===========
Earnings per share .......................... $ 0.000 $ 0.0000 $ 0.000 $ 0.0000
=========== =========== =========== ===========
Primary and Fully Diluted shares ............ 9,212,551 9,212,551 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 THREE MONTHS ENDED AUGUST 31,
1998 1997
----- -----
<S> <C> <C>
Cash flows from operating activities ...................... (9) 0
----- -----
Net Income (Loss)
Adjustments to reconcile net income to net cash
provided by (used in) operating activities
Increase (decrease) in:
Accrued expenses and other current liabilities ... (380) (62)
----- -----
Net cash used in operating activities ....... (389) (62)
Cash flow from financing activities
Advances of shareholder loans............. 300 0
Net increase(decrease) in cash and equivalent (89) (62)
Cash and cash equivalents - beginning ....... 89 128
----- -----
Cash and cash equivalents - end ............. $ 0 $ 66
===== =====
<CAPTION>
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid for interest and taxes was as follows: 1998 1997
---- ----
<S> <C> <C>
Interest - -
Taxes 380 388
</TABLE>
See accompanying notes to financial statements
<PAGE>
MEDI-DATA INTERNATIONAL, INC.
NOTES TO FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED AUGUST 31, 1998 AND 1997
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 August 31, 1998 and 1997 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 six months ended August 31, 1998 and 1997, the Company had no activity.
For the year ended February 28, 1998 the Company had a net loss of $(374) as
compared to a net loss of $1,995 for the year ended February 29, 1997.
Liquidity and Capital Resources
The Company ceased all previous operations in April 1988, and for the quarters
ended August 31, 1998 and 1997 the company had no operations or income from
operations. At August 31, 1998 and 1997 the Company has a shareholders'
deficiency of $1,059,952 and $1,059,567 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: October 14, 1998 MEDI DATA INTERNATIONAL, INC.
/S/ TERRY BROOKS
----------------
Terry Brooks, President
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> FEB-28-1999
<PERIOD-END> AUG-31-1998
<CASH> 9
<SECURITIES> 0
<RECEIVABLES> 4,600
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 4,600
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 4,600
<CURRENT-LIABILITIES> 61,384
<BONDS> 0
0
0
<COMMON> 9,213
<OTHER-SE> (65,997)
<TOTAL-LIABILITY-AND-EQUITY> 4,600
<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>
|
|