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 September 30, 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
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(Address of principal executive offices)
011-07-55-369-9588
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(Issuer's telephone number)
N/A
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(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 - September 30, 1999 and
December 31, 1998............................................. 3
Condensed Statements of Operations - For the three months
and nine months ended September 30, 1999 and 1998............. 4
Condensed Statements of Cash Flows - For the nine months ended
September 30, 1999 and 1998................................... 5
Notes to Condensed Financial Statements....................... 6
Item 2. Management's Discussion and Analysis of Financial Condition
and 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>
September 30, December 31,
1999 1998
------------------ ---------------
<S> <C> <C>
Assets
Total Assets $ 0 $ 0
================= ===============
Liabilities & Stockholders' Equity
================= ===============
Current Liabilities
Accrued Expenses $ 124,500 $ 124,500
----------------- ---------------
Total Current Liabilities $ 124,500 $ 124,500
----------------- ---------------
Stockholders' 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, $.001 par
value issued and outstanding 2,430,000 2,430 2,430
Additional paid-in Capital $3,512,884 $3,512,884
Deficit accumulated during development stage (3,639,916) $(3,639,916)
----------------- ---------------
Total Stockholders' Equity $(124,500) $(124,500)
----------------- ---------------
Total Liabilities & Stockholders' Equity $ 0 $ 0
================= ===============
</TABLE>
See Notes to the Financial Statements
3
<PAGE>
INFRASTRUCTURE INTERNATIONAL, INC.
Statement of Operations
<TABLE>
For the Three Months Ended For the Nine Months Ended
September 30, September 30,
-------------------------------- ------------------------------
1999 1998 1999 1998
----------- ----------- ------------- ------------
<S> <C> <C> <C> <C>
REVENUES $ 0 $ 0 $ 0 $ 0
EXPENSES
Administrative
Expenses $ 0 $ 3,500 $ 0 $ 10,500
----------- ------------ ------------- -------------
Total Expenses $ 0 $ 3,500 $ 0 $ 10,500
----------- ------------ ------------- -------------
NET LOSS
$ 0 $(3,500) $ 0 $(10,500)
=========== ============ ============= =============
(LOSS) PER SHARE $ 0 $ 0 $ 0 $ 0
=========== ============ ============= =============
AVERAGE SHARES
OUTSTANDING 2,430,000 2,430,000 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 Nine Months Ended
September 30,
-----------------------------------
1999 1998
-------------- ---------------
<S> <C> <C>
CASH FLOWS FROM OPERATING ACTIVITIES: $ 0 $ 0
============== ===============
Net income (loss) $ 0 $(10,500)
Accrued expenses $ 0 $ 10,500
-------------- ---------------
Net cash provided by operating activities $ 0 $ 0
CASH FLOWS FROM INVESTING ACTIVITIES $ 0 $ 0
============== ===============
CASH FLOWS FROM FINANCING 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
September 30, 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'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 and nine months ended September 30, 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 of the three month or nine
month periods ended September 30, 1999 or 1998. The Company did not incur any
expenses in the three months ended September 30, 1999, but had administrative
expenses of $10,500 for the corresponding period of the prior year.
Material Changes in Financial Condition, Liquidity and Capital Resources
At September 30, 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.
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> 9-mos
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> SEP-30-1999
<CASH> 0
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 0
<CURRENT-LIABILITIES> 124,500
<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>
