U. S. Securities and Exchange Commission
Washington, D. C. 20549
FORM 10-QSB
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the quarterly period ended September 30, 2000
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the transition period from to
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Commission File No.
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002-97007-D
ENERGROUP TECHNOLOGIES CORPORATION
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(Name of Small Business Issuer in its Charter)
UTAH 82-0420774
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(State or Other Jurisdiction of (I.R.S. Employer I.D. No.)
incorporation or organization)
5525 South 900 East, Suite 110
Salt Lake City, Utah 84117
(Address of Principal Executive Offices)
Issuer's Telephone Number: (801)262-8844
None, Not Applicable;
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(Former Name or Former Address, if changed since last Report)
Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Sections 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), and (2) has been subject to such
filing requirements for the past 90 days.
(1) Yes X No (2) Yes X No
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APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE
PRECEDING FIVE YEARS
None, Not Applicable;
APPLICABLE ONLY TO CORPORATE ISSUERS Indicate the number of shares
outstanding of each of the Registrant's classes of common stock, as of the
latest practicable date:
October 2, 2000
3,641,959
PART I - FINANCIAL INFORMATION
Item 1.Financial Statements.
The Financial Statements of the Registrant required to be filed with this 10-QSB
Quarterly Report were prepared by management and commence on the following page.
In the opinion of management, the Financial Statements fairly present the
financial condition of the Registrant.
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<TABLE>
<CAPTION>
ENERGROUP TECHNOLOGIES CORPORATION
[A Development Stage Company]
Balance Sheet
September 30, 2000 and December 31, 1999
09/30/2000 12/31/1999
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[Unaudited]
ASSETS
<S> <C> <C>
Assets $ 0 $ 0
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Total Assets $ 0 $ 0
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LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities:
Loans from stockholders $ 2,718 $ 226
Accrued Liabilities 100 100
Income Taxes Payable 0 0
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Total Current Liabilities 2,818 326
Total Liabilities 2,818 326
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Stockholders' Deficit:
Common Stock, $.001 par value;
authorized 50,000,000 shares; issued and
outstanding, 3,641,959 shares 3,642 3,642
Paid-in Capital 318,571 318,571
Accumulated Deficit (325,031) (322,539)
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Total Stockholders' Deficit (2,818) (326)
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Total Liabilities and Stockholders' Deficit $ 0 $ 0
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</TABLE>
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<TABLE>
<CAPTION>
ENERGROUP TECHNOLOGIES CORPORATION
[A Development Stage Company]
STATEMENTS OF OPERATIONS
For the Three and Nine Month Period Ended September 30, 2000, 1999 and
for the Period from Reactivation [December 14, 1998] through September 30, 2000
Three Months Ended Nine Months Ended Reactivation through,
2000 1999 2000 1999 September 30, 2000
<S> <C> <C> <C> <C> <C>
Revenues $ - $ - $ - $ - $ -
Operating expenses
General and Administrative 1,547 275 2,492 1,752 5,227
Total operating expenses 1,547 275 2,492 1,752 5,227
Loss before income taxes and
discontinued operations (1,547) (275) (2,492) (1,752) (5,227)
Income taxes - - - - 1,072
Net (loss) (1,547) (275) (2,492) (1,752) (6,299)
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Basic and diluted (loss) per common share (0.01) $ (0.01) $(0.01) (0.01) (0.01)
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Weighted Average Shares Outstanding 3,641,959 161,459 3,641,959 161,459 2,066,345
===============================================================
</TABLE>
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<TABLE>
<CAPTION>
ENERGROUP TECHNOLOGIES CORPORATION
[A Development Stage Company]
Statements of Cash Flows
For the Three and Nine Month Period Ended September 30, 2000, 1999 and
for the Period from Reactivation [December 14, 1998] through September 30, 2000
Three Months Ended Nine Months Ended Reactivation through,
2000 1999 2000 1999 September 30, 2000
Cash Flows From Operating Activities
<S> <C> <C> <C> <C> <C>
Net (loss) $ (1,547) $ (275) $(2,492) $ (1,752) (6,299)
Adjustments to reconcile net (loss) to net
cash used in operating activities
Shares issued for services - - - - 1,000
Increase/(Decrease) in current liabilities - - - - 100
Increase/(Decrease) in loans from 1,547 275 2,492 1,752 5,199
shareholder
Net cash flows from operating activities - - - - -
Cash Flows Provided by Financing Activities - - - - -
Net Increase In Cash - - - - -
Beginning Cash Balance - - - - -
Ending Cash Balance $ - - - - -
</TABLE>
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NOTES TO FINANCIAL STATEMENTS: Interim financial statements reflect all
adjustments which are, in the opinion of management, necessary to a fair
statement of the results for the periods. The December 31, 1999, balance sheet
has been derived from the audited financial statements. These interim financial
statements conform with the requirements for interim financial statements and
consequently do not include all the disclosures normally required by generally
accepted accounting principles.
<PAGE>
Item 2.Management's Discussion and Analysis or Plan of Operation.
Plan of Operation.
The Company has not engaged in any material operations in the period ending
September 30, 2000, or since before approximately 1989. The Company intends to
continue to seek out the acquisition of assets, property or business that may be
beneficial to the Company and its stockholders.
The Company's only foreseeable cash requirements during the next 12 months
will relate to maintaining the Company in good standing in the State of Utah,
keeping its reports "current" with the Securities and Exchange Commission or the
payment of expenses associated with reviewing or investigating any potential
business venture. Management does not anticipate that the Company will have to
raise additional funds during the next 12 months, however, if additional moneys
are needed, they may be advanced by management or principal stockholders as
loans to the Company. Because the Company has not identified any such venture as
of the date of this Report, it is impossible to predict the amont of any such
loan. However, any such loan will not exceed $25,000 and will be on terms no
less favorable to the Company than would be available from a commercial lender
in an arm's length transaction. As of the date of this Report, the Company has
not begun seeking any acquisition.
Results of Operations.
The Company has had no operations during the quarterly period ended
September 30, 2000, or since on or before approximately 1989. During the
quarterly period covered by this Report, the Company received no revenue and
incurred expenses of $1,547, stemming from general and administrative expenses.
Liquidity
At September 30, 2000, the Company had total current assets of $0 and total
liabilities of $2,818.
PART II - OTHER INFORMATION
Item 1.Legal Proceedings.
None; not applicable.
Item 2.Changes in Securities.
None; not applicable
Item 3.Defaults Upon Senior Securities.
None; not applicable.
Item 4.Submission of Matters to a Vote of Security Holders.
None; not applicable
Item 5.Other Information.
None; applicable
Item 6.Exhibits and Reports on Form 8-K.
None; not applicable
(b)Reports on Form 8-K.
None; Not Applicable.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned thereunto duly authorized.
ENERGROUP TECHNOLOGIES CORPORATION
Date: 10/08/2000 /S/ JAMES DOOLIN
James Doolin, President and Director
Date: 10/08/2000 /S/ ALYCIA ANTHONY
Alycia Anthony, Secretary and Director
