<PAGE> 1
SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB
Quarterly Report Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
For the Quarter Ended September 30, 1997 Commission File No. 33-19345-LA
EXHIBITRONIX, INC.
- -------------------------------------------------------------------------------
(Exact Name of Registrant as specified in its charter)
Nevada 93-09473718
- ------------------------------- -------------------
(State or other jurisdiction of (IRS Employer
incorporation or organization) Identification No.)
19762 MacArthur Blvd.
Irvine, CA 92612
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(Address of Principal Executive Offices)
(714) 759-3606
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(Registrant's Telephone Number)
17492 Jordan Avenue #5C
Irvine, CA 92615
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(Former address))
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
----- -----
Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.
Class Outstanding at November 10, 1997
- ----------------------------- --------------------------------
Common stock, $.001 par value 6,428,078
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EXHIBITRONIX, INC.
TABLE OF CONTENTS
Page
----
PART I FINANCIAL STATEMENTS
ITEM 1 Financial Statements (Unaudited)
Balance Sheets............................................. 3
Statement of Operations.................................... 4
Statement of Cash Flows.................................... 5
Notes to Financial Statements.............................. 6
ITEM 2 Plan of Operations......................................... 6
PART II OTHER INFORMATION.................................................. 7
SIGNATURES......................................................... 8
2
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EXHIBITRONIX, INC.
(A Company in the Development Stage)
Condensed Balance Sheets
September 30, 1997 (Unaudited) and December 31, 1996
<TABLE>
<CAPTION>
September 30, December 31,
1997 1996
------------- ------------
<S> <C> <C>
Assets
Current Assets
Cash $ 0 $ 0
----------- -----------
Total Current Assets $ 0 $ 0
=========== ===========
Liabilities and Stockholders' Equity
Current Liabilities
Accounts Payable $ 0 $ 600
Stockholders' Equity
Common Stock 50,000,000 Shares Authorized at
$0.001 par value 6,428,078 Shares and 1,028,078
Shares Issued and Outstanding Respectively
Retroactively Restated 6,428 1,028
Paid In Capital 125,871 125,871
Retained Earnings (Deficit) (132,299) (127,499)
----------- -----------
Total Stockholders' Equity 0 (600)
----------- -----------
Total Liabilities and Stockholders' Equity $ 0 $ 0
=========== ===========
</TABLE>
3
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EXHIBITRONIX, INC.
(A Company in the Development Stage)
Statement of Operations
For the Three Months and Nine Months Ended September 30, 1997 and 1996
<TABLE>
<CAPTION>
3 Months 3 Months 9 Months 9 Months
Ended Ended Ended Ended
Sept. 30, 1997 Sept. 30, 1996 Sept. 30, 1997 Sept. 30, 1996
-------------- -------------- -------------- --------------
(Unaudited) (Unaudited)
<S> <C> <C> <C> <C>
Revenues $ -0- $ -0- $ -0- $ -0-
Expenses
Professional -0- -0- 4,448 -0-
Office Expenses -0- -0- 202 -0-
License and Tax -0- -0- 150 100
--------- ---------- --------- ---------
Total Expenses -0- -0- (4,800) (100)
--------- ---------- --------- ---------
Net Loss -0- -0- (4,800) (100)
========= ========== ========= =========
Loss per Share (.00) (.00) (.00) (.00)
Weighted Average Shares
Outstanding 6,428,078 1,028,078 4,964,342 1,028,078
</TABLE>
4
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EXHIBITRONIX, INC.
(A Company in the Development Stage)
Statement of Cash Flow
For the Nine Months ended September 30, 1997 and 1996
<TABLE>
<CAPTION>
September 30, September 30,
1997 1996
------------- ------------
(Unaudited)
<S> <C> <C>
Cash Flows from Operating Activities
Net Income (Loss) $ (4,800) $ (100)
Changes in Operating Liabilities:
Increase (Decrease) in Accounts payable (600) 100
---------- ---------
Net Cash Used by Operating Liabilities (5,400) -0-
Cash Flows from Investing Activities -0- -0-
Cash Flows from Financing Activities
Sale of Common Stock 5,400 -0-
Net Cash provided by Financing Activities 5,400 -0-
--------- ---------
Increase in Cash and Cash Equivalents 5,400 -0-
Cash at Beginning of Period -0- -0-
--------- ---------
Cash at End of Period $ -0- $ -0-
========= =========
Disclosures from Operating Activities
Interest $ -0- $ -0-
Taxes -0- -0-
</TABLE>
5
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EXHIBITRONIX, INC.
Notes to Financial Statements (Unaudited)
ITEM I
BASIS OF PRESENTATION
The unaudited condensed financial statements and related notes have been
prepared pursuant to the rules and regulations of the Securities and Exchange
Commission. Accordingly, certain information and footnote disclosures normally
included in financial statements prepared in accordance with generally accepted
accounting principles have been omitted pursuant to such rules and regulations.
The accompanying financial statements and related notes should be read in
conjunction with the audited financial statements of the Company and notes
thereto, for the fiscal year ended December 31, 1996.
The information furnished reflects, in the opinion of management, all
adjustments, consisting of normal recurring accruals, necessary for a fair
presentation of the results of the interim period presented.
USE OF ESTIMATES
The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial statements and
the reported amounts of revenues and expenses during the reporting period.
Actual results could differ from those estimates.
ITEM II
Management's Discussion and Analysis of Financial Condition
and Results of Operation
The Company has no operations, no assets or liabilities and is dependent upon
its officers for its cash requirements. In the quarter ended March, 1997, an
officer and others invested $5,400 for 5,400,000 shares of common stock. In the
quarter ended June 30, 1997, the Company had no revenues and incurred expenses
in updating its financial statements to a current status and filing tax returns
to the current date. In the quarter ended September 30, 1997, a private
corporation purchased 5,200,000 shares of the Company's stock from an officer of
the Company and one other shareholder. The Company is currently investigating
various business opportunities to provide operations and a source of working
capital for the Company. As of the date of this Quarterly Report, the Company
has not entered into any letters of intent or definitive agreements with any
persons or entities. There can be no assurance that the Company will enter into
any such relationships or that, if so entered, any transactions will close.
Further, there can be no assurance that, upon the closing of any such
transactions, the Company will thereafter have any material operations or that
the Company will generate operating capital or profits therefrom.
6
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PART II
OTHER INFORMATION
Item 1 Legal Proceedings................................................. None
Item 2 Changes in the Rights of the Company's Security Holders........... None
Item 3 Defaults by the Company on its Senior Securities.................. None
Item 4 Results of Votes of Security Holders.............................. None
Item 5 Other Information................................................. None
Item 6 Exhibits.......................................................... None
27 -- Financial Data Schedule
Reports on Form 8-K: Filed November 13, 1997, disclosing a change of
control of the Registrant
7
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SIGNATURES
Pursuant to the requirements of the Securities Exchanges Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: November 12, 1997 By: /s/ NORMAN W. WRIGHT
-----------------------------------
Norman W. Wright,
Chief Executive Officer
Chief Financial Officer,
and Secretary
8
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INDEX TO EXHIBIT
Exhibit
Number Description
- ------- -----------
27 Financial Data Schedule
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> SEP-30-1997
<CASH> 0
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 0
<CURRENT-LIABILITIES> 0
<BONDS> 0
0
0
<COMMON> 6,428
<OTHER-SE> (6,428)
<TOTAL-LIABILITY-AND-EQUITY> 0
<SALES> 0
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 4,800
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 0
<INCOME-TAX> 0
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (4,800)
<EPS-PRIMARY> 0
<EPS-DILUTED> 0
</TABLE>
