SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB
(Mark One)
[ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 1999
OR
[ ] TRANSITION REPORT UNDER SECTION 13 OF 15(d) OF THE EXCHANGE ACT
OF 1934
From the transition period from to .
--------- --------
Commission File Number 0-6456
INFRASTRUCTURE INTERNATIONAL, INC.
----------------------------------
(Exact name of small business issuer as specified in its charter)
Nevada 87-0287034
------------------------------ ----------------------------------
(State or other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
Rm. 2211-2215, Science and Technology Building, No. 1001
Shangbuzhong Road, Fution District Shenzhen, PRC
(Address of principal executive offices)
011-07-55-369-9588
---------------------------
(Issuer's telephone number)
N/A
-------------------------------------------------------
(Former name, former address and former fiscal year,
if changed since last report)
Indicate by check mark whether the registrant (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 No X
----- -----
Class Shares Outstanding Date
Common, $.001 par value 2,430,000 December 1, 1999
<PAGE>
INFRASTRUCTURE INTERNATIONAL, INC.
INDEX
Page
Number
------
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements
Condensed Balance Sheets - March 31, 1999
and December 31, 1998......................................... 3
Condensed Statement of Operations - For the three months
ended March 31, 1999 and 1998................................. 4
Condensed Statement of Cash Flows - For the three months ended
March 31, 1999 and 1998....................................... 5
Notes to Condensed Financial Statements....................... 6
Item 2. Management's Discussion and Analysis of Financial Condition
ands Results of Operations................................... 7
PART II - OTHER INFORMATION................................................ 7
Item 6. Exhibits and Reports on Form 8-K.............................. 7
SIGNATURES................................................................. 8
<PAGE>
PART I - FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
INFRASTRUCTURE INTERNATIONAL, INC.
Balance Sheet
<TABLE>
March 31, December 31,
1999 1998
-------------------- ---------------------
<S> <C> <C>
Assets
Total Assets $ 0 $ 0
==================== =====================
Liabilities and Stockholder's Equity
==================== =====================
Current Liabilities
Accrued expenses $ 124,500 $ 124,500
Total Current Liabilities $ 124,500 $ 124,500
-------------------- ---------------------
Stockholder's Equity
Preferred Stock, Series A
convertible and redeemable, par value
$.001 issued and outstanding,
2,000 shares 2 2
Preferred Stock, Series B supervoting,
par value $.001 issued and outstanding
100,000 100 100
Common Stock, par value $.001;
2,430,000 issued and outstanding at 2,430 2,430
3-31-98 and at 12-31-98
Additional paid in capital 3,512,884 3,512,884
Deficit accumulated (3,639,916) (3,639,916)
-------------------- ----------------------
Total Stockholder's Equity $ (124,500) $ (124,500)
-------------------- ----------------------
Total Liabilities & Stockholder's Equity $ 0 $ 0
==================== ======================
</TABLE>
See Notes to the Financial Statements
3
<PAGE>
INFRASTRUCTURE INTERNATIONAL, INC.
Statement of Operations
<TABLE>
For the Three Months Ended
March 31,
--------------------------------------------------
1999 1998
------------------ ----------------
<S> <C> <C>
REVENUES $ 0 $ 0
EXPENSES
Administrative Expenses 0 $3,500
------------------ ----------------
Total Expenses 0 $ 3,500
------------------ ----------------
NET LOSS $ 0 $(3,500)
================== ================
(LOSS) PER SHARE $ 0 $ 0
================== ================
AVERAGE SHARES OUTSTANDING $ 2,430,000 $ 2,430,000
================== ================
</TABLE>
See Notes to the Financial Statements
4
<PAGE>
INFRASTRUCTURE INTERNATIONAL, INC.
Statement of Cash Flows
<TABLE>
For the Three Months Ended
March 31,
-------------------------------------------
1999 1998
---------------- --------------------
<S> <C> <C>
CASH FLOWS FROM OPERATING ACTIVITIES $ 0 $ 0
================ ====================
Net income (loss) $ 0 $ (3,500)
Accrued Expenses $ 0 $ 3,500
---------------- --------------------
Net cash provided by operating activities $ 0 $ 0
CASH FLOWS FROM INVESTING ACTIVITIES $ 0 $ 0
================ ====================
CASH FLOWS FROM FINANCIAL ACTIVITIES $ 0 $ 0
================ ====================
Net increase (Decrease) in cash $ 0 $ 0
Cash at beginning of year $ 0 $ 0
---------------- --------------------
Cash at end of year $ 0 $ 0
================ ====================
</TABLE>
See Notes to the Financial Statements
5
<PAGE>
INFRASTRUCTURE INTERNATIONAL, INC.
Notes to the Condensed Financial Statements
March 31, 1999
1. General
The interim financial statements are prepared pursuant to the requirements
for reporting on Form 10-QSB. The December 31, 1998 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 notes thereto should be read in conjunction with the financial
statements and notes included in the Company's Form 10-KSB for the year ended
December 31, 1998. 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. Foreign Currency Conversion
The Company's financial information is presented in U.S. dollars. Renminbi
have been converted into U.S. dollars at the exchange rate of 8.32 to 1.
6
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS
Material Changes in Result of Operations
During the three months ended March 31, 1999 and 1998, the Company had no
operations other than the search for a business to acquire or with which to
combine.
The Company reported no revenues for either the three month periods ended
March 31, 1999 or 1998. The Company did not incur any expenses in the three
months ended March 31, 1999, but had administrative expenses of $3,500 for the
correspondings period of the prior year.
Material Changes in Financial Condition, Liquidity and Capital Resources
At March 31, 1999 and December 31, 1998 the Company had no current assets
and current liabilities of $124,500.
Although the Company has no liquidity, it believes that it will be able to
find a suitable Company with which to merge.
Year 2000 Compliance
Because the Company has no computer operations, the year 2000 compliance is
not an issue for the Company.
PART II - OTHER INFORMATION
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
a) Exhibits
27.1 Financial Data Schedule
b) Reports on Form 8-K
None
7
<PAGE>
SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
INFRASTRUCTURE INTERNATIONAL, INC.
Date: December 3, 1999 By:/s/ Yiu Yat On
----------------------------------
Yiu Yat On, President
and Principal Executive Officer
Date: December 3, 1999 By:/s/ Ma Ding Jie
----------------------------------
Ma Ding Jie, Principal Financial Officer
8
<PAGE>
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 3-mos
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> MAR-31-1999
<CASH> 0
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 0
<CURRENT-LIABILITIES> 124,600
<BONDS> 0
0
102
<COMMON> 2,430
<OTHER-SE> (127,032)
<TOTAL-LIABILITY-AND-EQUITY> 0
<SALES> 0
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 0
<INCOME-TAX> 0
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 0
<EPS-BASIC> 0
<EPS-DILUTED> 0
</TABLE>
