MEDICAL MANAGEMENT SYSTEMS INC
10-Q/A, 1999-11-15
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<PAGE> 1



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                SECURITIES AND EXCHANGE COMMISSION

                    Washington, D. C.   20549
               ----------------------------------

                            FORM 10-Q/A-1

[ 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.

[   ]     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
          SECURITIES EXCHANGE ACT OF 1934
          For the transition period from:

                  ------------------------------
                   Commission file number 0-29462
                  ------------------------------

                  MEDICAL MANAGEMENT SYSTEMS, INC.
     (Exact name of Registrant as specified in its charter.)

COLORADO                                95-4121451
(State of other jurisdiction of         (IRS Employer
incorporation or organization)          Identification No.)

                      5459 South Iris Street
                    Littleton, Colorado   80123
  (Address of principal executive offices, including zip code.)

                          (303) 932-9998
       Registrant's telephone number, including area code.

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 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 [   ]

The number of shares outstanding of the Registrant's Common Stock, no
par value per share, at September 30, 1999 was 263,256 shares.


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<PAGE> 2

                              PART I

ITEM 1.   FINANCIAL STATEMENTS.

                  Medical Management Systems, Inc.
                   (A Development Stage Company)
                           BALANCE SHEET
                   September 30, 1999 (Unaudited)

ASSETS

Cash                                              $        -
                                                  -----------
   Total Assets                                   $        -
                                                  ===========

                LIABILITIES AND STOCKHOLDERS' EQUITY

Liabilities
   Accounts payable                               $        -
   Salaries & bonuses payable                         300,000
   Advances from related parties                           -
                                                  -----------
      Total Liabilities                               300,000

Stockholders' Equity
  Preferred stock, 10,000,000 shares authorized,
   no par value; none issued and outstanding               -
   Common stock, 40,000,000 shares authorized,
   no par value; 263,256 shares issued and
   outstanding                                      1,287,718
   Accumulated deficit                             (1,587,718)
                                                  -----------
      Total Stockholders' Equity                  $  (300,000)
                                                  -----------
      Total Liabilities and Stockholders' Equity  $        -
                                                  ===========


















                                 1
<PAGE> 3

                  Medical Management Systems, Inc.
                   (A Development Stage Company)
                      STATEMENTS OF OPERATIONS
  For the Three and Nine Months Ended September 30, 1999 and 1998
      and For the Period From Inception as a Development Stage
                   Company to September 30, 1999

                                                                   From
                                                                   Inception of
               Three        Three        Nine         Nine         Development
               Months       Months       Months       Months       Stage to
               1999         1998         1999         1998         09/30/99
               (Unaudited)  (Unaudited)  (Unaudited)  (Unaudited)  (Unaudited)

CONTINUING OPERATIONS
 Revenues      $    -       $    -       $      -     $     90     $      90
 General and
  administrative
   expenses      2,218        5,350        310,058      10,709       357,757
               -------      -------      ---------    --------     ---------
Loss from
 continuing
  operations    (2,218)      (5,350)      (310,058)    (10,619)     (357,667)

DISCONTINUED OPERATIONS
 Loss on disposal
  of business       -            -              -           -        (60,000)
 Gain from recovery
  of bad debts      -            -              -           -         10,000
               -------      -------      ---------    --------     ---------
Income (loss) from
 discontinued
 operations         -            -              -           -        (50,000)
               -------      -------      ---------    --------     ---------
INCOME (LOSS) BEFORE
 EXTRAORDINARY
  ITEM          (2,218)      (5,350)      (310,058)    (10,619)     (407,667)

EXTRAORDINARY ITEM
 Relief of
  liabilities       -            -              -           -          6,358
               -------      -------      ---------    --------     ---------
NET INCOME
 (LOSS)        $(2,218)     $(5,350)     $(310,058)   $(10,619)    $(401,309)
               =======      =======      =========    ========     =========

















                                 2
<PAGE> 4
                  Medical Management Systems, Inc.
                   (A Development Stage Company)
                      STATEMENT OF CASH FLOWS
       For the Nine Months Ended September 30, 1999 and 1998
  and For the Period From Inception as a Development Stage Company
                       to September 30, 1999
                                                       From Inception
                                                       of Development
                                                       Stage Company
                                                       to September
                         1999           1998           30, 1999
                         (Unaudited)    (Unaudited)    (Unaudited)

CASH FLOWS FROM OPERATIONS
Net loss                 $  (2,218)     $  (10,619)    $  (401,309)
Adjustments to reconcile
 net loss to net cash used
 by operating activities:
 (Gain) loss on disposal
  of business                   -               -           43,642
 Changes in current assets
  and liabilities          (11,036)           (989)        284,022
                         ---------      ----------     -----------
Net cash used by
 operating activities      (13,254)        (11,608)        (73,645)

CASH FLOWS FROM INVESTING ACTIVITIES
 Collection of note
  receivable                    -            1,500         10,000
                         ---------      ----------     ----------
Net cash provided by
 investing activities           -            1,500         10,000

CASH FLOWS FROM FINANCING ACTIVITIES
 Advances from related
  parties                       -           10,140         41,427
 Issue of common stock      13,254                         13,254
                         ---------      ----------     ----------
Net cash provided by
 financing activities       13,254          10,140         54,681
                         ---------      ----------     ----------
NET INCREASE (DECREASE)
 IN CASH                        -               32         (8,964)

CASH, beginning of period       -              451          8,964
                         ---------      ----------     ----------
CASH, end of period      $      -       $      483     $       -
                         =========      ==========     ==========
SUPPLEMENTAL DISCLOSURE OF
CASH FLOW INFORMATION
 Settlement of account
  payable                $      -       $       -      $    6,358
                         =========      ==========     ==========
 Common stock issued to
  retire notes payable and
  accrued liabilities    $      -       $       -      $  235,000
                         =========      =========      ==========



                                 3


<PAGE> 5

                  Medical Management Systems, Inc.
                   NOTES TO FINANCIAL STATEMENTS

1. ORGANIZATION

Medical Management Systems, Inc. (the "Company") was incorporated as
Apache Investments, Inc. in 1987 under the laws of the State of
Colorado. In February 1992, the Company commenced its initial principal
operations of owning and operating a pet  school and kennel in Grand
Prairie, Texas. In September 1991, the name of the Company was changed
to Dog World, Inc. In June 1993, the Company acquired a veterinary
practice in Irving, Texas. In April 1995, substantially all the
Company's assets and business operations were sold. The Company
subsequently changed its name to Medical Management Systems, Inc. and
has been in the development stage since the sale.

The Company currently has no business operations and intends to
actively seek, locate, evaluate, structure and complete mergers or
acquisitions of private companies, partnerships or sole
proprietorships.

2. OTHER INCOME AND NOTE RECEIVABLE

On May 7, 1997, the Company reached an agreement with a director of the
Company whereby the director agreed to pay $8,500 in cash along with a
promissory note for $1,500 in settlement of a dispute involving the
sale of Company assets in April 1995. In addition, the director agreed
to surrender options granted him to acquire 985,333 shared of the
Company's common stock, execute a Consent of Directors previously
executed by all other directors, transfer 25,000 shares of common stock
to another officer and director and release the Company from all
claims, demands and obligations. The Company accepted the cash and note
in satisfaction of a $60,000 note due from the director which had been
written off and recorded as a loss in its financial statements for the
year ended December 31, 1996.

The Company used $8,000 of the cash received to settle an outstanding
trade payable. The difference between the amount that had been due,
$14,358, and the amount paid has been recognized as income from relief
of indebtness.

The $1,500 note, along with interest accrued at 12%, was paid in full
in February 1998.

3. RELATED PARTY TRANSACTION

On October 15, 1998 the Company issued 3,344,934 shares of its common
stock to each of two stockholders and directors of the Company in
consideration of cash advances made to the Company prior to that date.
Total shares issued amounted to 6,689,868 shares at $.0005 per share
for the advances of $33,449.

On April 9, 1999, the Board of Directors agreed to award bonuses to its
officers for services rendered to the Company totaling $300,000 and the
Company has accrued the liability at June 30, 1999.
                                 4

<PAGE> 6

                  Medical Management Systems, Inc.
                   NOTES TO FINANCIAL STATEMENTS

3. RELATED PARTY TRANSACTIONS (continued)

In July 1999 the Board of Directors agreed to issue 11,036 restricted
shares of its common stock to two shareholders in satisfaction of
$11,036 owed  to them for payments made from personal funds for Company
expenses.  In September 1999 the Board agreed to issue an additional
2,218 shares of its restricted common stock to the two shareholders in
satisfaction of an additional $2,218 paid by them from personal funds.

4. REVERSE STOCK SPLIT

In January 1999, the Company's stockholders approved a 100 to 1 reverse
stock split.  The Company's authorized shares and stated capital remain
unchanged.





































                                  5
<PAGE>
<PAGE> 8

ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
          AND RESULTS OF OPERATIONS

Results of Operations - Through September 30, 1999.

     There have been no operations since April 1995 when the Company
sold substantially all of its assets in pet care and veterinary
services.  Since April 1995, the Company has been basically dormant;
except the Company incurred $14,262 of expenses in 1998 for legal and
accounting costs and $24,473 of expenses in 1997, primarily for legal
and accounting costs associated with filing its Form 10; $8,964 in 1996
for various administrative expenses and $102,098 in 1995 for costs
incurred subsequent to the disposal of the business in an initial
effort to enter other business ventures.  The Company's expenses in
1997 and 1998 were funded by advanced from shareholders.

     The Company expenses in 1998 were funded by advances from
shareholders.  During October 1998, 6,689,868 shares of Common Stock
were issued to two shareholders in consideration of $33,449 of the
advances.  The balance, $3,208 at December 31, 1998 is payable without
interest when the Company has funds available.  On January 19, 1999,
the Company reverse split its shares on a one-for-one hundred basis,
which is not reflected herein.

     On May 7, 1997, the Company reached an agreement with a former
director of the Company whereby the former director agreed to pay
$8,500 in cash along with a promissory note for $1,500 in settlement of
a dispute involved in the sale of Company assets in April 1995.  In
addition, the former director agreed to surrender options granted him
to acquire 985,333 shares of the Company's common stock and release the
Company from all claims, demands and obligations.  The Company accepted
the cash and note in satisfaction of a $60,000 note due from the former
director which had been written off and recorded as a loss in its
financial statements for the year ended December 31, 1996.  The
promissory note carries interest at 12%, is unsecured and is due with
accrued interest six months from the agreement date.  The promissory
note was repaid in February 1998.

     The Company used $8,000 of the cash received to settle an
outstanding trade payable. The difference between the amount that had
been due, $14,358, and the amount paid has been recorded with gain on
disposal of business, along with the $10,000 settlement referred to
above.

     In August 1995, the Company changed its business purpose to a
blank check company.

     In July 1999, the Board of Directors agreed to issue 11,036
restricted shares of its common stock to two shareholders in
satisfaction of $11,036 owed  to them for payments made from personal
funds for Company expenses.  In September 1999 the Board agreed to
issue an additional 2,218 shares of its restricted common stock to the
two shareholders in satisfaction of an additional $2,218 paid by them
from personal funds.


<PAGE> 8

Liquidity and Capital Resources.

     For the three months ended September 30, 1999 losses decreased
$3,132 to $(2,218) from $(5,350) as compared to the same period ended
1998.  For the nine months ended September 30, 1999 losses increased
$299,439 to $(310,058) from $(10,619) as compared to the same period in
1998.  For the nine month period ended September 30, 1999 the increase
in losses is directly attributed to $300,000 in bonuses, awarded to its
officers for services rendered.  Currently, the Company does not have
the funds to pay the bonuses.

                             PART II.

Item 1.   Legal Proceedings.

     There are no material legal proceedings commenced or maintained
by, or against, the Registrant.

Item 2.   Changes in Securities.

     There are no material legal proceedings commenced or maintained
by, or against, the Registrant.

Item 3.   Defaults Upon Senior Securities.

     The Registrants has no debt securities outstanding.

Item 4.   Submission of Matters to a Vote of Security Holders.

     There were no matters submitted for a vote of the security
holders.

Item 5.   Other Information.

     There is no other material information.

Item 6.   Exhibits and Reports on Form 8-K.

(a)  Reports on Form 8-K

     No reports were filed on Form 8-K during the quarter ended
September 30, 1999.

(b)  Exhibits.

EXHIBIT INDEX

Exhibit
  No.          Description.

  27      Financial Data Schedule






<PAGE> 9
                           SIGNATURES

     Pursuant to 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.

     Dated this 15th day of November, 1999.


                              MEDICAL MANAGEMENT SYSTEMS, INC.
                              (the "Registrant")


                              BY:  /s/ Philip J. Davis
                                   Philip J. Davis
                                   President, Treasurer and member of
                                   the Board of Directors



<TABLE> <S> <C>

<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
Statement of Financial Condition at September 30, 1999 (Unaudited) and the
Statement of Income for the nine months ended September 30, 1999 (Unaudited)
and is qualified in its entirety by reference to such financial statements.
</LEGEND>

<S>                             <C>
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<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>                          300,000
<BONDS>                                              0
                                0
                                          0
<COMMON>                                     1,287,718
<OTHER-SE>                                           0
<TOTAL-LIABILITY-AND-EQUITY>                         0
<SALES>                                              0
<TOTAL-REVENUES>                                     0
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                               310,058
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                                      0
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 (310,058)
<EPS-BASIC>                                     (1.18)
<EPS-DILUTED>                                   (1.18)


</TABLE>


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