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Previous: OPPENHEIMER VARIABLE ACCOUNT FUNDS, NSAR-A, 1998-08-24 |
Next: HARTFORD MORTGAGE SECURITIES HLS FUND INC, NSAR-A, 1998-08-24 |
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
FORM 10-QSB
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the Quarter Ended June 30, 1998
Commission File Number 2-93426D
CALDERA, INC.
(Exact name of registrant as specified in its charter)
Delaware 87-0419568
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification no.)
9 1/2 Casimir St. Toronto, Ontario Canada, M5T 2P6
(Address of principal executive office)
Registrant's telephone number including area code 416 603-9184
(Former name, former address and former fiscal year,
if changed since last report)
Indicate number of shares outstanding of each class of common
as of the end of the quarter:
$0.01 par value common stock outstanding,
at March 31, 1998: 3,345,000 shares
Indicate by checkmark whether the registrant has filed all
reports to be filed by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months and (2) has
been subject to such filing requirements for at least the past 90
days
X Yes No
---- ---
<PAGE>
TABLE OF CONTENTS
Page
Part I FINANCIAL INFORMATION
Item 1 Financial Statements 3
Balance Sheets 3
Statement of Operations 4
Statements of Stockholders Equity 5
Statements of Cash Flows 6
Notes to Financial Statements 7
Item 2 MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS 7
Part II OTHER INFORMATION 7
Item 6 Exhibits, Reports of Form 8-K 7
SIGNATURES 8
-2-
<PAGE>
CALDERA, INC.
Balance Sheets
June 30, 1998 and December 31, 1997
(Unaudited)
June 30, '98 Dec. 31, '97
ASSETS
Current Assets:
Cash $ 0 $ 0
------------ ----------
Total Assets 0 0
LIABILITIES AND
STOCKHOLDERS EQUITY
Accounts payable $ 0 $ 0
------------ ----------
Total Liabilities 0 0
Stockholders' equity
Common stock, $.10 par
value, Authorized
50,000,000 shares; issued
and outstanding
3,345,000 at June 30, 1998
& Dec. 31, 1997 $ 608,152 $ 608,152
Additional Paid in capital 0 0
Accumulated Deficit (608,152) (608,152)
------------ ----------
Total Stockholders Equity $ 0 $ 0
-3-
<PAGE>
CALDERA, INC.
Statement of Operations for the three months and six months
ended June 30, 1998 and for
the three months and six months ended June 30, 1997
(Unaudited)
Three Months Ended Six Months Ended
June 30, June 30,
------------------ ----------------
1998 1997 1998 1997
---- ---- ---- ----
Revenue $ 0 $ 0 $ 0 $ 0
Selling, general &
administrative expenses 0 0 0 500
Operating loss 0 0 0 0
Other income 0 0 0 0
----- ----- ----- -----
Net income (loss)
before income taxes 0 0 0 (500)
Income tax expense (benefit) 0 0 0 0
----- ----- ----- -----
Net income (loss) 0 0 0 (500)
Net income (loss)
per common share $ 0 $ 0 $ 0 $ 0
----- ----- ----- -----
-4-
<PAGE>
CALDERA, INC,
Statement of Stockholders Equity Year
ended December 31, 1997
and the six months ended June 30, 1998
(Unaudited)
Number of Shares/Common/Capital Stock/ Retained/Net Equity
Earnings(Deficit)
Balance
Dec 31, '96 3,345,000 $ 33,444 $ 589,152 $(606,152) $(17,000)
Issue
Common
Stock 0 0 0 0 0
Issue
common
for
services 0 0 0 0 0
Stock
Redemptions 0 0 0 0 0
Net loss
1997 0 0 0 (2,000) (2,000)
Balance
Dec. 31, --------- -------- --------- ---------- --------
1997 3,345,000 $ 33,444 $ 608,152 $(608,152) (0,000)
Net loss
six months
ended
June 30,
'98 0 0 0 (000) (000)
Balance
June 30,
1998 3,345,000 $ 33,444 $ 608,152 $(608,152) (000)
-5-
<PAGE>
CALDERA, INC.
Statement of Cash Flows for the six months ended June 30, 1998
and June 30, 1997
Six Months Ended June 30,
-------------------------
(Unaudited) 1998 1997
-------- --------
Cash Flows from
operating activities
Net income (loss) $ (0) $ (500)
Adjustments to
reconcile net income
to net cash provided
by operations
Decrease in Accounts
payable (0) (500)
Total adjustments (0) (500)
Net cash used on
operating activities 0 0
Cash flows from
investing activities 0 0
Net cash (used) by
investing activities 0 0
Cash flows from
financing activities 0 0
Net cash used in
financing activities 0 0
Net decrease in cash
and cash equivalents 0 0
Cash and cash
equivalents at
beginning of year 0 0
Cash and cash
equivalents at end
of period 0 0
-6-
<PAGE>
CALDERA, INC.
Item 2 Management's Discussion and Analysis of Financial
Condition and Results of Operations.
During the relevant fiscal quarters the Registrant had no
activities. As of July 7, 1998, the Registrant entered into a
Stock Purchase Agreement with the shareholders of International
Fidelity Holding Corp. ("IFHC") for the Registrant to acquire all
of the outstanding capital stock of IFHC in exchange for
19,777,000 shares of Registrant's Common Stock, after a 1-for-15
reverse split of the Common Stock. IFHC and its wholly-owned
subsidiary International Surety & Casualty Corp. are engaged in
the property and casualty insurance business, primarily
reinsurance of automobile insurance products in the State of
Texas. The approval of the Stock Purchase Agreement as well as
amendments to the Registrant's Certificate of Incorporation for
the reverse stock split and the change of corporate name to
Unistar Financial Service Corp., for election of directors
approval of a stock option plan are subject to approval of
Registrant's stockholders at a meeting scheduled for August 17,
1998. Assuming stockholder approval and the closing of the Stock
Purchase Agreement, the Registrant will be engaged in the
insurance business and its liquidity and capital resources would
be dependent upon the financial ability of IFHC and of new
management to raise any required additional equity or debt
capital.
PART II OTHER INFORMATION
Item 6. EXHIBITS AND REPORTS FILED ON FORM 8-K
Exhibits
--------
No exhibits are required to be filed
Reports on Form 8-K
-------------------
The Registrant filed no reports on Form 8-K during the quarter
ended June 30, 1998
-7-
<PAGE>
SIGNATURES
Pursuant to the requirement of the Securities Exchange Act of
1934, as amended, the Registrant has duly caused this report to
be signed on its behalf by the undersigned thereunto duly
authorized.
Dated: August 17, 1998
CALDERA, INC.
By /s/ Ronald K. Mann
------------------------------
Ronald K. Mann
Vice President and Treasurer
-8-
<PAGE>
EXHIBIT INDEX
Exhibit Description
------- -----------
27 Financial Data Schedule
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
CALDERA, INC. FORM 10-QSB FOR THE PERIOD ENDED JUNE 30, 1998,
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<CASH> 0
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 0
<CURRENT-LIABILITIES> 0
<BONDS> 0
0
0
<COMMON> 0
<OTHER-SE> 0
<TOTAL-LIABILITY-AND-EQUITY> 0
<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> 0
<EPS-DILUTED> 0
</TABLE>
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