FORM 10-Q
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Quarterly Report Under Section 13 or 15(d)
of the Securities Exchange Act of 1934
For Quarter Ended: June 30, 1996
Commission File Number: 33-19411-C
CREATIVE VENDING CORP.
(exact name of registrant as specified in its charter)
Florida 65-0008012
(State or other jurisdiction of (IRS Employer
incorporation of organization Identification No.)
P.O. Box 669, Palm Beach, FL 33480
(Address of principal executive offices)
(407) 833-5092
(Registrant's telephone number, including area code)
3020 Pickett Rd., Suite 4800, Durham N.C. 27705
(former name, address and former fiscal year, if changed from 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-X NO
APPLICABLE ONLY TO CORPORATE ISSUERS:
Indicate the number of shares outstanding of each of the issuer's classes
of Common Stock, as of the latest practicable date.
As of June 30, 1996 there were 2,000,000 shares of Common Stock
outstanding.
<PAGE>
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements.
See financial statements (unaudited), attached as an exhibit.
Item 2. Management's Discussion and Analysis of Financial Condition and
Results of Operations.
The Registrant had not yet commenced business operations as of the end of
this quarter. Since inception the Registrant has received only minimal revenues
and maintained only nominal capital.
Because of the total lack of revenues and business operations, there is no
basis for comparison of financial statements, sales, revenues or earnings with
any other statements of any other fiscal period.
PART 11 - OTHER INFORMATION
Items 1-5. Not Applicable
Item 6. Exhibits
(a) Financial Statements (unaudited) of Registrant for the current
quarterly period.
2
<PAGE>
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.
Registrant:
CREATIVE VENDING CORP.
By: /s/ Dale B. Finfrock
Dale B. Finfrock, Jr., President
Date: August 21, 1996
3
<PAGE>
CREATIVE VENDING CORP.
(A DEVELOPMENT STAGE COMPANY)
BALANCE SHEET
JUNE 30, 1996 (UNAUDITED) AND DECEMBER 31, 1995 (AUDITED)
UNAUDITED AUDITED
06/30 12/31
1996 1995
ASSETS
Current Asset:
Cash $ -0- $ -0-
Total Current Asset -0- -0-
Total Assets $ -0- $ -0-
SHAREHOLDER'S EQUITY
Shareholders' Equity:
Common Stock, $.00002 par value;
authorized 50,000,000 Class A Common
Shares, 150,000,000 ordinary common
shares; issued and outstanding
2,000,000 ordinary common shares $ 1,969 $ 1,967
Additional paid-in capital 121,558 121,558
Preferred stock, $1,000 par value; 12%
redeemable and convertible, 1,000,000
shares authorized; no shares issued
and outstanding -0- -0-
(Deficit) accumulated during the
development stage (123,525) (123,525)
Total Shareholders' Equity $ -0- $ -0-
See Accompanying Notes to Financial Statements
F-1
<PAGE>
CREATIVE VENDING CORP.
(A DEVELOPMENT STAGE COMPANY)
STATEMENT OF OPERATIONS
SIX MONTHS ENDED JUNE 30, 1996 AND 1995
(UNAUDITED)
1996 1995
Revenues $ -0- $ -0-
Operating expenses -0- -0-
Gross Profit (Loss) -0- -0-
Expenses:
General & Administrative -0- -0-
Total Expenses -0- -0-
Net Loss $ -0- $ -0-
Net (Loss) Per Share $ -0- $ -0-
See Accompanying Notes to Financial Statements
F-2
<PAGE>
CREATIVE VENDING CORP.
(A DEVELOPMENT STAGE COMPANY)
STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY
SIX MONTHS ENDED JUNE 30, 1996 AND 1995
(UNAUDITED)
1996 1995
Shareholders' Equity:
Beginning of period $ -0- $ -0-
Additions -0- -0-
Deductions:
Net loss, six months ended
June 30-deficit accumulated
during the development stage -0- -0-
Ending Balance as of June 30 $ -0- $ -0-
____________ _____________
See Accompanying Notes to Financial Statements
F-3
<PAGE>
CREATIVE VENDING CORP.
(A DEVELOPMENT STAGE COMPANY)
STATEMENT OF CASH FLOWS
SIX MONTHS ENDED JUNE 30, 1996 AND 1995
(UNAUDITED)
1996 1995
CASH FLOWS FROM OPERATING ACTIVITIES
Net (Loss) $ -0- $ -0-
Adjustment to Reconcile Net (Loss)
to Net Cash Used by
Operating Activities -0- -0-
Net Cash Used by
Operating Activities -0- -0-
CASH FLOWS FROM INVESTING ACTIVITIES -0- -0-
CASH FLOWS FROM FINANCING ACTIVITIES -0- -0-
Net Change in Cash -0- -0-
Cash - Beginning of Period -0- -0-
Cash - End of Period $ -0- $ -0-
See Accompanying Notes to Financial Statements
F-4
<PAGE>
CREATIVE VENDING CORP.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS
(UNAUDITED)
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Business Activity
Creative Vending Corp. (the Company) was organized under the laws of the State
of Florida on April 9, 1987 as HWS MAI Corp. and effectuated its name change on
February 17, 1989. The Company was in the business of development, assembly,
manufacture and sale of advanced coin-operated amusement machinery in the
coin-game industry.
Due to the Company's inability to raise working capital to fund such operations
in the coin-game industry, the Company liquidated its assets to satisfy its
liabilities in full during the year ended December 31, 1989. The Company, a
development stage enterprise, is inactive and has no business operations. The
future of the Company is solely dependent on the willingness of the shareholders
to provide the necessary capital and efforts required to continue future
development activities.
NOTE 2 - In the opinion of management, the accompanying unaudited financial
statements contain all adjustments necessary to present fairly the financial
position of Creative Vending Corp. as of June 30, 1995, and the results of its
operations, changes in its shareholders' equity and cash flows for the three
months then ended.
NOTE 3 - The results of operations for the three months ended June 30, 1995 are
not necessarily indicative of the results to be expected for the entire year.
otccc\cvc696.10Q
F-5
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
UNAUDITED FINANCIAL STATEMENTS OF CREATIVE VENDING CORP FOR JUNE 30, 1996
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS
</LEGEND>
<CIK> 0000827099
<NAME> CREATIVE VENDING CORP
<MULTIPLIER> 1
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JAN-01-1996
<PERIOD-END> JUN-30-1996
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0
0
<COMMON> 1,969
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