U.S. 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 quarterly period ended March 31, 1996
Commission File Number: 33-11062-D
CAPITAL 2000, INC.
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(Exact name of small business issuer as specified in its charter)
Colorado 84-1049047
- - ---------------------------- ---------------------------------
(State of other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
P.O. Box 460363, Aurora, Colorado 80015
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(Address of principal executive offices including zip code)
(303) 690-6787
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(Issuer's telephone number)
16178 East Prentice Place, Aurora, Colorado 80015
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(Former address, if changed, since last report.)
Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act 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.
Yes X No___
As of May 8, 1996, 1,900,000 shares of common stock, no par value per share,
were outstanding.
Transitional Small Business Disclosure Format (check one): Yes___ No X
CAPITAL 2000, INC.
INDEX
PART I. FINANCIAL INFORMATION Page No.
Balance Sheets as of March 31, 1996
and December 31, 1995 3
Statements of Operations for the
Three Months Ended March 31, 1996 and 1995
and from October 22, 1986 (Date of Inception)
through March 31, 1996 4
Statements of Cash Flows for the Three
Months Ended March 31, 1996 and 1995 and from
October 22, 1986 (Date of Inception) through
March 31, 1996 5
Notes to Financial Statements 6
Management's Discussion and Analysis
or Plan of Operations 7
PART II. OTHER INFORMATION 7
Signatures 8
CAPITAL 2000, INC.
(A Development Stage Company)
BALANCE SHEETS
(Unaudited)
ASSETS
March 31 December 31
1996 1995
----------- -----------
Current Assets $ 246 $ -
Total Current Assets 246 -
Total Assets $ 246 $ -
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable $ 1,150 $ 19,215
Other 2,000 -
Total Current Liabilities 3,150 19,215
Stockholders' Equity:
Common Stock, no par value,
500,000,000 shares authorized
1,900,000 shares issued and
outstanding 67,550 47,550
Additional paid-in capital 133,156 133,156
Deficit accumulated during development
stage (203,610) (199,921)
Total Stockholders' Equity (2,904) (19,215)
Total Liabilities and Stockholders' Equity $ 246 $ -
The accompanying notes are an integral part of the financial statements.
CAPITAL 2000, INC.
(A Development Stage Company)
STATEMENTS OF OPERATIONS
(Unaudited)
From October
22, 1986
(Date of
Three Months Ended Inception)
March 31, to March 31,
1996 1995 1996
---------- ----------- ----------
Revenues $ - $ - $ 75
Operating Expenses:
Professional fees 1,754 4,710 29,907
Payments to related persons - - 154,486
Stock issued for services - - 4,050
Other 1,935 1,381 15,242
Total Operating Expenses 3,689 6,091 203,685
Net Loss $ (3,689) $ (6,091) $ (203,610)
Per Share $ nil $ (.04) $ (.19)
Weighted Average Number of Shares
Outstanding 1,045,100 160,200 1,045,100
The accompanying notes are an integral part of the financial statements.
CAPITAL 2000, INC.
(A Development Stage Company)
STATEMENTS OF CASH FLOWS
(Unaudited)
From October
Three Months Ended 22, 1986
March 31, (Date of
1996 1995 Inception)
------------------- ------------
Cash Flows Operating Activities:
Net (loss) $ (3,689) $ (6,091) $(203,610)
Stock issued for services - - 4,050
Increase (Decrease) in
accounts payable (18,065) 6,091 1,150
Net Cash (Used in) Operating
Activities (21,754) - (198,410)
Cash Flows from Investing Activities:
Advances from related party 2,000 - 2,000
Net Cash Provided by (Used in)
Investing Activities 2,000 - 2,000
Cash Flows from Financing Activities:
Issuance of common stock 20,000 - 196,656
Cash Flows from Financing Activities 20,000 - 196,656
Increase in Cash 246 - 246
Cash, Beginning of Period - - -
Cash, End of Period $ 246 $ - $ 246
Interest Paid $ - $ - $ -
Income Taxes Paid $ - $ - $ -
The accompanying notes are an integral part of the financial statements.
CAPITAL 2000, INC.
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
March 31, 1996 (Unaudited)
(1) CONDENSED FINANCIAL STATEMENTS
The financial statements included herein have been prepared by Capital
2000, Inc. without audit, pursuant to the rules and regulations of the
Securities and Exchange Commission. Certain information and footnote
disclosures normally included in the financial statements prepared in
accordance with generally accepted accounting principles have been condensed
or omitted as allowed by such rules and regulations, and Capital 2000, Inc.
believes that the disclosures are adequate to make the information presented
not misleading. It is suggested that these financial statements be read in
conjunction with the December 31, 1995 audited financial statements and the
accompanying notes thereto. While management believes the procedures
followed in preparing these financial statements are reasonable, the accuracy
of the amounts are in some respect's dependent upon the facts that will exist,
and procedures that will be accomplished by Capital 2000, Inc. later in the
year.
The management of Capital 2000, Inc. believes that the accompanying
unaudited condensed financial statements contain all adjustments (including
normal recurring adjustments) necessary to present fairly the operations and
cash flows for the periods presented.
(2) CHANGE IN CONTROL OF THE COMPANY
During the three month period ended March 31, 1996 the Company issued
1,709,800 shares of common stock in exchange for an individual assuming and
paying $20,000 of the Company's accounts payable. This individual sold these
shares, thereby transferring 90% ownership of the Company to new stockholders.
ITEM 2
MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS
Capital 2000, Inc. (the "Company") formerly O.T.C. Capital Corporation
was organized as a Colorado corporation on October 22, 1986, in order to
evaluate, structure and complete a merger with, or acquisition of, prospects
consisting of private companies, partnerships of sole proprietorships. The
Company may seek to acquire a controlling interest in such entities in
contemplation of later completing an acquisition. The Company is not limited
to any operation or geographic area in seeking out opportunities. Management
has not identified any particular business or industry within which the
Company will seek an acquisition or merger. The Company has not conducted,
nor have others made available to it,
market research supporting the viability of the Company's proposed operations.
The Company generated no revenues during the quarter ended March 31,
1996, and management does not anticipate any revenues until following the
conclusion of a merger or acquisition, if any, as contemplated by the
Company's business plan.
The Company's capital is limited. The Company anticipates operational
costs will be limited until such time as significant evaluation work is
undertaken regarding prospective mergers or acquisitions.
At March 31, 1996, the Company had no material commitments for capital
expenditures.
PART II OTHER INFORMATION
Item 1. LEGAL PROCEEDINGS
None.
Item 2. CHANGES IN SECURITIES
None.
Item 3. DEFAULTS UPON SENIOR SECURITIES
None.
Item 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
None.
Item 5. OTHER INFORMATION
None.
Item 6. EXHIBITS AND REPORTS ON FORM 8-K
None.
SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
CAPITAL 2000, INC.
By:/s/ Timothy J. Brasel
Timothy J. Brasel
President (Chief Executive Officer,
Principal Financial and Accounting
Officer) and a Director
Date: May 10, 1996
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
balance sheets and statements of operations found on pages 3 and 4 of
the Company's Form 10-QSB for the year to date, and is qualified in its
entirety by reference to such financial statements.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> MAR-31-1996
<CASH> 0
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<RECEIVABLES> 0
<ALLOWANCES> 0
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<CURRENT-ASSETS> 246
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 246
<CURRENT-LIABILITIES> 3,150
<BONDS> 0
<COMMON> 67,550
0
0
<OTHER-SE> (73,358)
<TOTAL-LIABILITY-AND-EQUITY> 246
<SALES> 0
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 3,689
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> (3,689)
<INCOME-TAX> 0
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