UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 1O-Q
[x] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934.
For the period ended September 30, 1996
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 Number 0-14724
ARNOX CORPORATION
Delaware 06-1094094
(state or other jurisdiction of (IRS Employer
incorporation of organization) identification No.)
1612 N. Osceola Avenue
Clearwater, Florida
34615
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, Including area code: (813)
443-3434
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 for such shorter period that the
Registrant was required to file such reports).
Yes X No. ______
APPLICABLE ONLY TO REGISTRANTS INVOLVED IN BANKRUPTCY
PROCEEDINGS DURING THE PRECEDING FIVE YEARS
Indicate by check mark whether the Registrant has
filed all documents and reports required to be filed by
Sections 12, 13 or 15(d) of the Securities Exchange Act
of 1934 subsequent to the distribution of securities under
a plan confirmed by a court.
N/A Yes __ No ___
APPLICABLE ONLY TO CORPORATE ISSUERS:
Indicate the number of shares outstanding of each of
the issuer's classes of common stock, as of the latest
practicable date.
Common Stock 3,439,247 shares. This number includes 22,222
shares which were issued 4/15/89. The previous number was
the one from the last 10-K filed by ARNOX before the
bankruptcy. The transfer agent confirmed this number as of
9/9/96.
PART 1-FINANCIAL INFORMATION
Item 1. Financial Statements.
ARNOX CORPORATION
(a Dormant State Company)
for the quarter ending September 30, 1996
Assets Organization Cost $3,439.00
Totals Assets $3,439.00
Liabilities and Shareholder's Equity
Stockholders' Equity
Common Stock par value at $0.00001 per share
10,000,000 shares authorized, 3,439,247 shares
issued and outstanding $3,439.00
Additional Paid in Capital 0.00
Deficit accumulated during development stage 0.00
Total Shareholders' Equity $3,439.00
Total Liabilities and Shareholders Equity $3,439.00
ARNOX CORPORATION
(a Dormant State Company)
Income Statements for the quarter ending September 30, 1996
1996
Revenues and Expenses $ 0.00
ARNOX CORPORATION
(a Dormant State Company)
Statements of Shareholder's Equity
for the quarter ending September 30, 1996
Common Stock
(3,439,247 shares issued & outstanding) $3,439.00
Additional Paid in Capital 0.00
Accumulated Deficit 0.00
Balance Jan 1 3,439.00
Net Income/(loss) for the year 0.00
Balance September 30 $3,439.00
Item 2. Management Discussion and Analysis of Financial
Condition and Results of Operations.
The Registrant was incorporated on October 17, 1983 in
the State of Delaware. The Company's business
consisted of developing, manufacturing, marketing and
licensing fire retardant products. These fire retardant
products were marketed under the trade name ARNOX FR. The
Company's fire retardant chemicals were used to treat
corrugated packaging board for military and commercial
applications, for particle board, chip board, and
paneling in mobile homes. The Company's shares were
traded on the NASDAQ exchange until April 25, 1989.
The Company was most closely aligned to the
lumber industry because its products were used to
treat lumber and products, such as corrugated board,
which are derived from lumber. On September 11, 1989, the
Registrant filed a petition, No. 89-97155, in the US
Bankruptcy Court for the District of New Jersey. This
was converted from a Chapter 11 to a Chapter 7
petition on December 18, 1989. This bankruptcy
proceeding endured for four years and ten months. On
July 12, 1994, the Registrant's Petition was declared
closed and the Trustee was discharged. Since July 12,
1994, the Registrant has been totally inactive.
At the end of this year's third quarter, ARNOX is
reinstated and is in good standing with its state of
incorporation. It is current with its SEC filings and we
have reinstated the original stock transfer agent,
Continental Stock Transfer and Trust ARNOX is currently
seeking a merger partner.
PART II-OTHER INFORMATION
Item 1. Legal Proceedings
In another matter, unrelated to ARNOX, Mr. Sirak was the
subject to Administrative Proceeding by the Commission, File
No. 3-1911. The Commission on 09/27/96, imposed a cease-and-
desist order and imposed remedial sanctions which result in
an Order that Sirak be barred from participating in an
offering of any penny stock; and cease and desist from
committing or causing any violations of Section 17(a) of the
Securities Act and Section 10 (b) of the Exchange Act and
Rule 10b-5 promulgated thereunder. Given ARNOX's current
business plans, there appears to be no conflict with the
Commission's Order and Mr. Sirak being ARNOX's attorney.
ARNOX confirms that Mr. Sirak will continue as its legal
counsel.
Item 2. Changes in Securities
None.
Item 3. Defaults Upon Senior Securities
Not Applicable
Item 4. Submission of matters to a vote of Security Holders.
On June 13, 1996, Proxy Statements were mailed to all
security holders. These asked the stockholders to do the
following: (1) ratify the act of reinstating the original
charter of ARNOX Corporation; (2)authorize Capston Network
Co. and its authorized representatives, Ms. Sally Fonner and
Norman Sirak, to file 10 K and 10 Q reports on behalf of
the Company and bring it current with its reporting
requirement; (3)authorize Capston Network Co. and its
authorized representatives to seek out a qualified purchaser
for ninety percent of the company's issued stock;
(4)approve in principle a restructuring of ARNOX
whereby existing shareholders would accept a ten-for
one reverse split, simultaneous with the issuance of a
ninety percent block of stock to a qualified purchaser;
(5)approve of Ms. Sally Fonner acting on behalf of the
company for a two year term or until a qualified purchaser
can be found that can imbue the company with new
management, whichever happens first; and (6)approve of
moving the company's place of business to St. Petersburg,
Florida. The deadline for submitting proxy statements
was July 3, 1996. The above matters were approved and an 8-
K filed with the results.
Item 5. Market for Registrant's Common Equity
ARNOX , through Public Securities, Inc., on 9/30/96
submitted a new 15c2-11 to NASD. This is another step in
restoring ARNOX to a fully functional public company.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the
Exchange Act of 1934, the Registrant has duly caused this
report to be signed on its behalf by the
undersigned, thereunto duly authorized.
ARNOX Corporation Date: 10/06/96
By ___________________
Sally Fonner, Director,
President and Chief
Financial Officer
Pursuant to the requirements of the Securities Exchange Act
of 1934 this report has been signed below by the
following person on behalf of the Registrant and in the
capacities and on the date indicated.
Date: 10/06/96
By __________________
Sally Fonner, Director,
President and Chief
Financial Officer
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