<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-QSB
(Mark one)
[ X ] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the quarterly period ended March 31, 1996
--------------
OR
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the transition period from to .
------------------ -----------------
Commission File No. 33-11935
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CAMPBELL CAPITAL CORP.
-----------------------------------------------------------------
(Exact Name of Small Business Issuer as Specified in its Charter)
Delaware 59-2754843
- ------------------------------- ----------------------
(State or Other Jurisdiction of (IRS Employer
Incorporation or Organization) Identification No.)
1111 Kane Concourse, Suite 505
Bay Harbour Islands, Florida 33154
- --------------------------------------- -------------
(Address of Principal Executive Offices) (Zip Code)
Issuer's Telephone Number, Including Area Code: (305) 864-3255
---------------
Check whether the issuer (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), and (2) has been subject to such filing requirements for the past
90 days.
YES X NO
----- -----
State the number of shares outstanding of each of the issuer's classes of
common equity, as of the latest practicable date: 5,500,000 shares of common
--------------------------
stock, $.001 par value per share, were outstanding as of March 31, 1996.
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Page 1 of 6
Exhibit Index at Page 7
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PART 1 - FINANCIAL INFORMATION
CAMPBELL CAPITAL CORPORATION
BALANCE SHEET
(UNAUDITED)
ASSETS
<TABLE>
<CAPTION>
March 31, September 30,
1996 1995
--------- ------------
<S> <C> <C>
Current assets
Cash $ 198 $ 2,087
--------- ---------
Total current assets $ 198 $ 2,087
========= =========
</TABLE>
LIABILITIES AND STOCKHOLDERS' EQUITY
<TABLE>
<CAPTION>
<S> <C> <C>
Current liabilities
Accounts payable $ - $ -
Due to affiliate 10,060 10,060
--------- ---------
Total current liabilities 10,060 10,060
--------- ---------
Stockholders' equity
Preferred stock, $.01 par value.
Authorized 10,000,000; none
issued or outstanding
Common stock, $.001 par value.
Authorized 25,000,000 shares
5,500,000 shares issued and
outstanding 5,500 5,500
Additional paid-in capital 223,527 223,527
Deficit ( 238,889) ( 237,000)
-------- --------
9,862 ( 7,973)
-------- --------
$ 198 $ 2,087
======== ========
</TABLE>
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL
STATEMENTS
2
<PAGE>
CAMPBELL CAPITAL CORPORATION
STATEMENT OF INCOME
(UNAUDITED)
<TABLE>
<CAPTION>
Six months ended Three months ended
---------------- ------------------
March 31, March 31,
---------------- ------------------
<S> <C> <C> <C> <C>
1996 1995 1996 1995
---- ---- ---- ----
Interest income $ 11 $ 33 $ 3 $ 16
Operating expenses 1,900 100 750 100
------ ------ ------ ------
Net income (loss) ($1,889) ($ 67) ($ 747) ($ 84)
====== ====== ====== ======
</TABLE>
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL
STATEMENTS
3
<PAGE>
CAMPBELL CAPITAL CORPORATION
STATEMENT OF CASH FLOWS
(UNAUDITED)
<TABLE>
<CAPTION>
Six months ended March 31,
1996 1995
---- ----
<S> <C> <C>
Cash provided by (used for) operations
Net income (loss)...................... ($1,889) ($ 67)
Changes in assets and liabilities...... ( - ) ( 650)
------ ------
Net cash used for operations............. ( 1,889) ( 717)
Cash, beginning of period.............. 2,087 4,232
------ ------
Cash, end of period........................... $ 198 $3,515
====== ======
</TABLE>
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL
STATEMENTS
4
<PAGE>
CAMPBELL CAPITAL CORPORATION
NOTES TO FINANCIAL STATEMENTS
(UNAUDITED)
Note 1: Basis of Presentation
- ------- ----------------------
The financial information included herein is unaudited; however, such
information reflects all adjustments (consisting solely of normal recurring
adjustments) which are, in the opinion of management, necessary for a fair
statement of results for the interim periods.
The results of operations for the three and six months ended March 31,
1996 are not necessarily indicative of the results to be expected for the full
year.
Item 2. Management's Discussion and Analysis or Plan of Operation
- ------- ---------------------------------------------------------
Results of Operations
For a description of the Company's business, see the Company's Annual
Report on Form 10-KSB for the fiscal year ended September 30, 1995. At this
date, the Company has no understandings, commitments or agreements with respect
to any acquisition.
Revenue during the three and six months ended March 31, 1996 and 1995
consisted principally of interest income. Expenses have consisted principally
of professional fees. No officer or director of the Company has received, or
accrued any right to receive, any cash compensation since the Company's
inception.
Financial Condition, Liquidity and Capital Resources
The Company's negative working capital and stockholders' deficit at
March 31, 1996 was ($9,862). Any required additional financing may be obtained
through loans, issuance of additional securities, or through other financing
arrangements to be funded concurrent with an acquisition. There can be no
assurance that any such financing will be available when it is required or, even
if it is available, that it will be available on terms acceptable to the
Company.
5
<PAGE>
Item 6. Exhibits and Reports on Form 8-K
- ------- --------------------------------
Financial Statements
The following financial statements of the Company are included in this
report:
a. Balance Sheet as of March 31, 1996 and September 30, 1995;
b. Statement of Income for the three and six months ended
March 31, 1996 and 1995;
c. Statement of Cash Flows for the three and six
months ended March 31, 1996 and 1995; and
d. Notes to Financial Statements.
Form 8-K
No reports on Form 8-K were filed during the quarter for which this report
is filed.
6
<PAGE>
SIGNATURES
----------
In accordance with 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.
CAMPBELL CAPITAL CORP.
Date: May 14, 1996 By: /s/ Robert M. Leopold
------ ---------------------------------
Robert M. Leopold, President
Pursuant to the requirements of the Securities Exchange Act of 1934,
this report has been signed below by the following persons on behalf of the
registrant and in the capacities and on the dates indicated.
Signature Title Date
- --------- ----- ----
/s/ Robert M. Leopold President/Principal May 14, 1996
- ------------------------ Executive Officer/ ------
ROBERT M. LEOPOLD Director
/s/ Steve Gordon Treasurer/Principal May 14, 1996
- ------------------------ Financial and ------
STEVE GORDON Accounting Officer
/s/ Hershel Krasnow Director May 14, 1996
- ------------------------ ------
HERSHEL KRASNOW
7
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
QUARTERLY REPORT ON FORM 10QSB AT MARCH 31, 1996 AND FROM THE THREE AND SIX
MONTHS THUS ENDED.
</LEGEND>
<S> <C> <C>
<PERIOD-TYPE> 3-MOS 6-MOS
<FISCAL-YEAR-END> SEP-30-1996 SEP-30-1996
<PERIOD-START> JAN-01-1996 OCT-01-1995
<PERIOD-END> MAR-31-1996 MAR-31-1996
<CASH> 0 198
<SECURITIES> 0 0
<RECEIVABLES> 0 0
<ALLOWANCES> 0 0
<INVENTORY> 0 0
<CURRENT-ASSETS> 0 198
<PP&E> 0 0
<DEPRECIATION> 0 0
<TOTAL-ASSETS> 0 198
<CURRENT-LIABILITIES> 0 10,060
<BONDS> 0 0
0 0
0 0
<COMMON> 0 (9,862)<F1>
<OTHER-SE> 0 0
<TOTAL-LIABILITY-AND-EQUITY> 0 198
<SALES> 0 0
<TOTAL-REVENUES> 3 11
<CGS> 0 0
<TOTAL-COSTS> 750 1,900
<OTHER-EXPENSES> 0 0
<LOSS-PROVISION> 0 0
<INTEREST-EXPENSE> 0 0
<INCOME-PRETAX> (747) (1,889)
<INCOME-TAX> 0 0
<INCOME-CONTINUING> (747) (1,889)
<DISCONTINUED> 0 0
<EXTRAORDINARY> 0 0
<CHANGES> 0 0
<NET-INCOME> (747) (1,889)
<EPS-PRIMARY> 0 0
<EPS-DILUTED> 0 0
<FN>
<F1>Stockholders' deficit.
</FN>
</TABLE>
