SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB/A
Amendment No. 1
(Mark One)
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT
OF 1934
For the quarterly period ended June 30, 1996
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the transition period from__________to__________.
Commission File No. 0-6456
INFRASTRUCTURE INTERNATIONAL, INC.
(formerly React Systems, Inc.)
------------------------------------------------------
(Exact name of registrant as specified in its charter)
Nevada 87-0287034
- --------------------------------------------- --------------------------------
(State or other jurisdiction of incorporation (IRS Employer Identification No.)
or organization)
1787 East Ft. Union Blvd., #106, Salt Lake City, UT 84121
---------------------------------------------------------
(Address of principal executive offices)
(801) 942-7722
---------------------------
(Issuer's telephone number)
REACT SYSTEMS, INC.
--------------------------------------------------
(Former name, former address, and former fiscal year,
if changed since last report)
Indicate by check mark whether the Registrant (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 NO X
--- -----
As of August 30, 1996, 524,227 shares of Common Stock of the issuer were
outstanding.
<PAGE>
REACT SYSTEMS, INC.
INDEX
Page
Number
--------
PART I - FINANCIAL INFORMATION
Item 1. Condensed Financial Statements
Condensed Balance Sheet - June 30, 1996
and December 31, 1995 .................................. 3
Condensed Statement of Operations - For the three
months and six months ended June 30, 1996
and 1995................................................ 4
Condensed Statement of Cash Flows- For the six months
ended June 30, 1996 and 1995............................ 5
Notes to Condensed Financial Statements................. 6
Item 2. Management's Discussion and Analysis or Plan of
Operations................................................. 7
PART II - OTHER INFORMATION
Signatures.......................................................... 8
2
<PAGE>
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements
REACT SYSTEMS, INC.
Balance Sheet
June 30, 1996 December 31, 1995
--------------- -------------------
ASSETS
Total Current Assets $ 0 $ 0
------ -------
TOTAL ASSETS $ 0 $ 0
====== =======
LIABILITIES & EQUITY
LIABILITIES
Current Liabilities
Notes Payable $ 94,300 $ 94,300
Loans from stockholders 2,281 0
------ ------
Total Current Liabilities 96,581 94,300
EQUITY
Common Stock 149,206 149,206
Paid in Capital 344,600 344,600
Accumulated Deficit (590,387) (588,106)
------- -------
TOTAL EQUITY (95,581) (94,300)
------- -------
TOTAL LIABILITIES & EQUITY $ 0 $ 0
======= =======
See accompanying notes to condensed financial statements
3
<PAGE>
REACT SYSTEMS, INC.
Statement of Operations
<TABLE>
Three Months Ended Three Months Ended Six Months Ended Six Month Ended June
June 30, 1996 June 30, 1995 June 30, 1996 30, 1995
------------------ ------------------- ----------------- --------------------
<S> <C> <C> <C> <C>
REVENUE
Income $ 0 $ 0 $ 0 $ 0
------ -------- ------ -------
NET REVENUE 0 0 0 0
OPERATING EXPENSES
Office Expenses 216 0 216 0
Filing Fees 775 0 2,065 0
------ -------- ------ -------
TOTAL OPERATING EXPENSES
991 0 2,281 0
------ -------- ------ -------
NET INCOME / (LOSS) $ (991) $ 0 $ 2,281 $ 0
====== ======== ====== =======
NET LOSS PER SHARE $ (.001) $ 0.00 $ (.004) $ 0.00
====== ======== ====== =======
WEIGHTED AVERAGE NUMBER OF
SHARES OUTSTANDING 524,227 2,984,118 524,227 2,984,118
========= ========= ========= =========
</TABLE>
See accompanying notes to condensed financial statements
4
<PAGE>
REACT SYSTEMS, INC.
Statement of Cash Flows
<TABLE>
Six Months Ended Six Months Ended
June 30, 1996 June 30, 1995
----------------- ----------------
<S> <C> <C>
Cash Flows Used For Operating Activities
Net Loss $ (2,281) $ 0
-------- ---------
Net Cash Used For Operating Activities
(2,281) 0
-------- ---------
Cash Flows Provided by Financing Activities
Loan from shareholder 2,281 0
-------- ---------
Net Cash Provided by Financing Activities
2,281 0
-------- ---------
Net Increase In Cash 0 0
Beginning Cash Balance 0 0
-------- ---------
Ending Cash Balance $ 0 $ 0
======== =========
</TABLE>
See accompanying notes to condensed financial statements
5
<PAGE>
REACT SYSTEMS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
June 30, 1996
1. Interim Financial Presentation
The interim financial statements are prepared pursuant to the requirements
for reporting on form 10-QSB. The December 31, 1995 balance sheet data was
derived from audited financial statements but does not include all
disclosures required by generally accepted accounting principles. The
interim financial statements and footnotes thereto should be read in
conjunction with the financial statements and footnotes included in the
Company's report on Form 10-KSB for the year ended December 31, 1995. In
the opinion of management, the interim financial statements reflect all
adjustments of a normal recurring nature necessary for a fair statement of
the results for the interim periods presented.
2. Shareholder Loan
During the three months ended June 30, 1996, the Company's principal
shareholder loaned $2,281 to the Company to pay costs associated with the
maintenance of the Company. Such loan is non-interest bearing and has no
definite repayment terms.
3. Subsequent Event
On August 30, 1996, the Company effected at one-for-thirty reverse stock
split.
6
<PAGE>
Item 2. Management's Discussion and Analysis or Plan of Operation
Plan of Operation
The Company has not engaged in any material operations since December 31,
1974. The Company intends to continue to seek an 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 Nevada
and filing its reports with the Securities and Exchange Commission. During the
current period, such costs were funded by loans from the Company's principal
shareholder totaling $2,281. Such loans are non-interest bearing and have no
definite repayment terms. Although the Company anticipates that its principal
shareholder will continue to fund such costs for the foreseeable future, there
is no assurance that such shareholder will continue to fund the Company's cash
requirements.
Results of Operation
The Company has had no operations since December, 1974. During the period
covered by this Report, the Company received no revenue and had expenses of
$2,281 relating to the basic maintenance of the Company.
PART II. - OTHER INFORMATION
Item 6. Exhibits and Reports on Form 8-K
a) Exhibits
1. 27.1 Financial Data Schedule
b) Reports on Form 8-K
None
7
<PAGE>
SIGNATURES
Pursuant to the requirement of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto authorized.
INFRASTRUCTURE INTERNATIONAL, INC.
Date: December 2, 1996 By: /s/ Yiu Yat Hung
----------------------------
Yiu Yat Hung, Chairman
Chief Executive Officer
Date: December 2, 1996 By: /s/ Yiu Yat On
----------------------------
Yiu Yat On, Chief Financial Officer
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 6-mos
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> JUN-30-1996
<CASH> 0
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 0
<CURRENT-LIABILITIES> 96,581
<BONDS> 0
0
0
<COMMON> 149,206
<OTHER-SE> (245,787)
<TOTAL-LIABILITY-AND-EQUITY> 0
<SALES> 0
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 2,281
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> (2,281)
<INCOME-TAX> 0
<INCOME-CONTINUING> (2,281)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (2,281)
<EPS-BASIC> (.01)
<EPS-DILUTED> (.01)
</TABLE>
