<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
FOR THE QUARTER ENDED NOVEMBER 30, 2000
ACCELERATED LEARNING LANGUAGES, INC.
(Exact name of Registrant as specified in its charter)
Delaware #0-13895 IRS#34-1444240
-------- -------- --------------
(State or other jurisdiction of (Commission (IRS Employer
incorporation or organization) File Number) Identification Number)
3900 Paradise Road / Suite 227
Las Vegas, Nevada 89109
(Address of Registrant's principal executive offices)
(702) 942-2010
(Registrant's telephone number, including area code)
(702) 942-2014
(Registrant's facsimile number, including area code)
Title of each class Name of each exchange on which registered
Not Applicable Not Applicable
Securities registered under Section 12(b) of the Exchange Act:
Common Stock $.0001 Par Value
Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Securities Exchange Act during the past 12 months (or for
such shorter period that the issuer was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.
Yes [X] No [_]
<PAGE>
State the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable dates.
Title of Each Class Outstanding at November 30, 2000
Common Stock, $0.0001 Par Value 16,444,465 Shares
PART I
Item 1. DESCRIPTION OF BUSINESS
Accelerated Learning Languages, Inc. ("ALL"), is a Delaware corporation.
Effective November 7, 2000, ALL acquired the language division of Accelerated
Learning Institute, Inc. and intends to provide language products and services
for sale around the world. These include home-study language courses for English
speakers in the USA and Canada, and English as a Foreign Language (ESL) for
Spanish speakers, being developed under contract for a Mexican Corporation and
Cocokids, a second language course for preschool children. All of the programs
are in the Accelerated Learning modality providing optimum learning efficiency
for the user.
The company has established offices at 3900 Paradise Road, Suite 227, Las
Vegas, NV 89109. Telephone (702) 942-2010. Facsimile (702) 942-2014.
Item 2. PROPERTIES
At November 30, 2000, the Issuer had no material assets and had no
liabilities.
Item 3. LEGAL PROCEEDINGS
None
Item 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
None
PART II
Item 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS
The Issuer's common stock is listed on the NASD's Electronic
Over-the-Counter Bulletin Board (symbol LRNN). The quoted prices reflect
interdealer prices without retail markup, markdown or commissions, and may not
necessarily
<PAGE>
represent actual transactions. On November 30, 2000, the closing trade for the
common stock was $0.07.
On November 30, 2000, the number of stockholder accounts of record was 777.
Item 6. PLAN OF OPERATIONS
The company will supply home-study French, German, Spanish and Italian
language courses to established clients. New clients will be generated from the
company's Web sites at WWW.LEARNALANGUAGE.COM. and www.cocokids.com.
Development of the ESL Spanish course will be completed by June 2001. The
Mexican partner will produce and sell the course in thirteen countries where
Spanish is a common language. ALL will retain title to the copyright and
trademark rights and will receive payment of a royalty on all product sales. ALL
will also seek other non-English speaking partners to develop and market ESL
programs in other foreign languages using the ESL Spanish course as a template.
Cocokids is fully developed for French, Spanish and English and will be
test marketed for suitability of sale using the franchise method of selling.
Item 7. FINANCIAL STATEMENTS/OR FINANCIAL CONDITION
For the information called for by this Item, see the Financial Statements
attached.
Item 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE
During the quarter ended November 30, 2000, there were no reportable
disagreements between the Issuer and its auditors on any matter of accounting
principles or practices, financial statement disclosure, or auditing scope or
procedure.
PART III
Item 9. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS; COMPLIANCE
WITH SECTION 16(a) OF THE EXCHANGE ACT
Mr. Thomas L. Madden, a director since November 7th, 2000
Mr. Peter Kenyon, a director since November 7th, 2000
Ms. Anne Kenyon, a director since November 7th, 2000
<PAGE>
Item 10. EXECUTIVE COMPENSATION
Executive compensation is in the process of being finalized.
Item 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
A total of 16,444,465 shares of common stock were issued and outstanding on
the date of this Quarterly Report on Form 10-QSB. The following table sets forth
certain information with respect to the beneficial ownership of shares of the
Issuer's common stock by (i) each person known to be the beneficial owner of 5%
or more of the common stock, (ii) each executive officer or director of the
Issuer, and (iii) all executive officers and directors as a group.
<TABLE>
<CAPTION>
Name and Address Number of Shares
of Beneficial Owner Beneficially Owned Percent of Class
<S> <C> <C>
None None - 0 -%
All Officers and Directors
as a Group - 0 - - 0 -%
</TABLE>
Item 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
Information set out in Item 10 is also applicable to this item. No officer,
director, nominee for director, family member of any of the foregoing, or
corporation, organization, trust or estate in which any of the foregoing has an
interest is indebted to the Registrant.
Item 13. EXHIBITS AND REPORTS ON FORM 8-K
None.
<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 Quarterly Report on
Form 10-QSB to be signed on its behalf by the undersigned, thereunto duly
authorized.
January 16, 2001
Accelerated Learning Languages, Inc.
By: /s/ Peter Kenyon
----------------------------------
Peter Kenyon,
President
<PAGE>
ACCELERATED LEARNING LANGUAGES, INC.
Balance Sheets
November 30, 2000
<TABLE>
<CAPTION>
11/30/00
<S> <C>
ASSETS
Cash and cash equivalents $5
Total Assets $5
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities $0
Total Liabilities 0
Stockholders' Equity
Serial Preferred Stock, convertible $.0001 par value;
100,000 shares authorized, 0 outstanding at November 30, 2000. 10
Common Stock, $.0001 par value; 50,000,000
shares authorized, 16,444,465 issued and outstanding
at November 30, 2000. 104
Additional Paid-in-Capital 17,063,578
Retained Earnings (Deficit) (17, 063,687)
Total Stockholders' Equity 5
Total Liabilities and Stockholders' Equity $5
</TABLE>
<PAGE>
ACCELERATED LEARNING LANGUAGES, INC.
Statement of Operations and Retained Earnings (Deficit)
For the Quarter Ended November 30, 2000
<TABLE>
<CAPTION>
11/30/00
<S> <C>
Income
Gross sales $0
Total Income 0
Expenses
General and administrative 0
Total Expenses 0
Net Income 0
Beginning Retained Earnings (Deficit) (17,063,687)
Transfer of retained earnings to increase Common
Stock for Preferred Stock converted 0
Ending retained Earnings (Deficit) (17,063,687)
Weighted Average shares outstanding
during the period 1,038,948
</TABLE>
<PAGE>
ACCELERATED LEARNING LANGUAGES, INC.
Statement of Cash Flows
For the Quarter Ended November 30, 2000
<TABLE>
<CAPTION>
11/30/00
<S> <C>
Cash Flows From Operating Activities
Net Income $0
Preferred Stock issued for legal services 0
Total adjustments to Net Income 0
Net Cash Provided by Operating Activities 0
Cash Flow From Investing Activities
Proceeds from exercise of stock purchase warrants 5
Net Cash Provided by Financing Activities 5
Net Increase in Cash 5
Cash, Beginning of Period $5 $5
</TABLE>
