UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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 REGISTRAINTS 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 or15(d) of the Securities Exchange Act of
1934 subsequent to thedistribution 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.
PART 1-FINANCIAL INFORMATION
Item 1. Financial Statements.
ARNOX CORPORATION
(a Dormant State Company)
for the quarter ending September 30, 1996
Assets Organization Cost $ 0.00
Totals Assets 0.00
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 0.00
Additional Paid in Capital 0.00
Total Shareholders' Equity 0.00
Total Liabilities and Shareholders Equity $ 0.00
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) $ 0.00
Additional Paid in Capital $ 0.00
Accumulated Deficit $ 0.00
Balance Jan 1 $ 0.00
Net Income/(loss) for the year $ (0.00)
Balance September 30, 1996 $ 0.00
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 U.S. 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.
ARNOX does not accrue any liability for the expenses
incurred with Capston's activities to bring ARNOX current
with all of its reporting and filings requirements or in
connection with services rendered prior to closing of the a
business combination. Moreover, any such reimbursement will
be subject to the express approval of the owners of the
business opportunity acquired by the Company. To date, Capston
has expendited $6,017 for administrative items concerning ARNOX.
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. Capston is seeking
suitable acquisitions for ARNOX, but have none under
consideration.
This interim financial statement reflects all adjustments
which are, in the management, necessary to a fair statement
of the Company's financial position and results of
operations for this period.
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
and representative. However,as of September 24, 1996, Mr.
Sirak has resigned from all positions with ARNOX due to
unrelated business matters.
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.
The June 13, 1996, Proxy proposals which were mailed
to all security holders were approved. 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
managment, whichever happens first; and (6)approve of
moving the company's place of business to St. Petersburg,
Florida.
Item 5. Market for Registrant's Common Equity
There is no established public trading market for the
Registrant's securities. The Company has no operations and
no income.
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: 03/31/97
By________/S/___________
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: 03/31/97
By_______/S/___________
Sally Fonner, Director,
President and Chief
Financial Officer
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<PERIOD-END> SEP-30-1996
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0
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