FORM 10-QSB/A
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
(Mark One)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13
OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended: May 31, 1997
[ ]TRANSITION REPORT PURSUANT TO SECTION 13
OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from __________to__________
Commission File Number 33-14066-NY
Sunlite Technologies Corp.
(Exact name of small business issuer as specified in its charter)
Delaware 06-1221388
(State or other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
P.O. Box 620723
Douglaston, NY 11362
(Address of principal executive offices)
(718)423-6741
(Issuer's telephone number)
Check whether the issuer:
(1) filed all reports required to be filed by Section 13 or 15(d) of the
Exchange Act during the past 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
53,330,000 shares of Common Stock, $.0001 par value,
outstanding on May 31, 1997
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Sunlite Technologies Corp.
(a development stage company)
BALANCE SHEET
May 31, 1997
(UNAUDITED)
ASSETS
Current assets:
Cash $ 118
-----
Total current assets 118
Property, plant and equipment:
Equipment and fixtures 21,135
Less accumulated depreciation 11,424
------
Property, Plant & Equip net 9,711
Intangible assets:
Patents at cost 62,030
Less accumulated amortization 35,372
------
Patents, Net 26,658
------
$ 36,487
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LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY)
Current liabilities:
Accounts payable $ 18,247
Accrued rent (related parties) 18,274
Payroll taxes payable 2,737
Notes payable 18,384
-------
Total current liabilities 57,642
Stockholder's equity (deficiency):
Common stock $.0001 par value;
500,000,000 shares authorized;
53,330,000 issued and outstanding
At May 31, 1996 5,333
Additional paid in capital 882,459
Deficit accumulated during
development stage (908,947)
-------
(21,155)
-------
$ 36,487
=======
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Sunlite Technologies Corp.
(a development stage company)
STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIENCY)
(UNAUDITED)
Common Add'l Paid Accumulated
Stock in Capital Deficit
________ ___________ _________
November 30, 1996 $ 3,769 $ 571,001 $ (879,647)
Feb. 10, 1997
in a private placement
issued 200,000 shares 20 4,980
Net (loss) for period (22,259)
May 31, 1997
Issued 15,440,000 shares
of Common Stock in
settlement of $308,021
in Loans due the Company 1,544 306,478
Net (loss) for period (7,041)
Balance at:
May 31, 1997 $ 5,333 $ 882,459 $ (908,947)
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Sunlite Technologies Corp.
(a development stage company)
(NOTES TO CONDENSED FINANCIAL STATEMENTS)
May 31, 1996
(Unaudited)
Note A- BASIS OF PRESENTATION
The accompanying unaudited condensed financial statements presented in
accordance with generally accepted accounting principles for interim
financial information and the instructions to Form 10-QSB and item 310
under subpart A-Regulation S-B. Accordingly, they do not include all
information and footnotes required by generally accepted accounting
principles for complete financial statements. In the opinion of management,
all adjustments considered necessary for a fair presentation have been
included. Operating results for the six months ended May 31, 1997 are not
necessarily indicative of results that may be expected for the year ending
November 30, 1997. For further information, refer to the consolidated
financial statements and footnotes, thereto included in the Company's
annual report on form 10-KSB for the year ended November 30, 1996.
Note B- On February 10, 1997 the Company sold in a private transaction
200,000 shares of stock to a private individual at $.025 per share for a
total of $5000.
Note C- In April 1997, the Company settled 10 of its 11 outstanding loans
in the amount of $308,021 and Issued 15,440,000 shares of its common stock.
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SIGNATURES
Pursuant to the requirements of Section 13 of 15(d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be
signed in its behalf by the undersigned, thereunto duly authorized.
Sunlite Technologies Corp.
by /s/Lewis Scala
Lewis Scala
President
Dated: Sept. 25, 1997
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