SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB
Annual Report Pursuant to Section 13 or 15 (d)
of the Securities Exchange Act of 1934
For the Quarter Ended Commission File No.
June 30, 1997 33-19345-LA
EXHIBITRONIX, INC.
Nevada 93-0943718
(State or other jurisdiction of (IRS Employer
incorporation or organization) Identification No.)
17492 Jordan Avenue #5C
Irvine, California 92615
(Address of Principal Executive Offices)
Registrant's telephone number including area code: 714-253-9600
Former name, former address, and former fiscal
year end, if changed since last report.
Indicate by checkmark 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 in the past 90 days:
Yes X No
--------- ---------
Indicate the number of shares outstanding for each of the issuer's classes
of Common Stock as of the last practical date: August 15, 1997 6,548,078 Shares
<PAGE>
Exhibitronix, Inc.
TABLE OF CONTENTS
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 MANAGEMENT DISCUSSION AND FINANCIAL
CONDITION AND RESULTS OF OPERATIONS . . . . . . . . . . . .6
PART II OTHER INFORMATION. . . . . . . . . . . . . . . . . . . . . . . .7
SIGNATURES . . . . . . . . . . . . . . . . . . . . . . . .8<PAGE>
Exhibitronix, Inc.
June 30, 1997 & December 31, 1996
<TABLE>
<CAPTION>
June December
30, 1997 31, 1996
----------- -----------
<S> <C> <C>
Assets
Current Assets
- --------------
Cash $ 3,381 $ -0-
----------- -----------
Total Current Assets $ 3,381 $ -0-
=========== ===========
Current Liabilities
- -------------------
Accounts Payable $ 3,381 $ 600
Stockholders' Equity
- --------------------
Common Stock 50,000,000 Shares
Authorized at $0.001 par value
6,428,078 Shares & 1,028,078
Shares Issued & 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 &
Stockholders' Equity $ 3,381 $ -0-
=========== ===========
</TABLE>
<PAGE>
Exhibitronix, Inc.
Statements of Operations
April 1, 1997 to June 30, 1997 &
April 1, 1996 to June 30, 1996 &
January 1, 1997 to June 30, 1997 &
January 1, 1996 to June 30, 1996
<TABLE>
April April January January
1, 1997 1, 1996 1, 1997 1, 1996
to June to June to June to June
30, 1997 30, 1996 30, 1997 30, 1996
----------- ----------- ----------- -----------
<S> <C> <C> <C> <C>
Revenues $ -0- $ -0- $ -0- $ -0-
- -------- ----------- ----------- ----------- -----------
Expenses
- --------
Professional 3,328 -0- 4,448 -0-
Office Expenses 162 -0- 202 -0-
License & Tax 100 -0- 150 100
----------- ----------- ----------- -----------
Total Expenses 3,590 -0- 4,800 100
----------- ----------- ----------- -----------
Net Loss 3,590 -0- (4,800) (100)
=========== =========== =========== ===========
Loss Per Share (.00) (.00) (.00) (.00)
Weighted Average
Shares Outstanding 6,428,078 1,148,078 6,428,078 1,148,078
</TABLE>
<PAGE>
Exhibitronix, Inc.
Statements of Cash Flows
January 1, 1997 to June 30, 1997
and the January 1, 1996 to June 30, 1996
<TABLE>
<CAPTION>
June June
30, 1997 30, 1996
----------- -----------
<S> <C> <C>
Cash Flows from Operating Activities
- ------------------------------------
Net Loss $ (4,800) $ (100)
Changes in Operating Liabilities:
Increase (Decrease) in Accounts Payable 2,781 100
----------- -----------
Net Cash Used by Operating Liabilities (2,019) -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 3,381 -0-
Cash at Beginning of Period -0- -0-
----------- -----------
Cash at End of Period $ 3,381 $ -0-
=========== ===========
Disclosures from Operating Activities
- -------------------------------------
Interest $ -0- $ -0-
Taxes -0- -0-
</TABLE>
<PAGE>
Exhibitronix, Inc.
Notes to Financial Statements (Unaudited)
ITEM I
NOTE #1 - Basis of Presentation
- -------------------------------
The accompanying unaudited financial statements have been prepared in
accordance with generally accepted accounting principles for interim financial
information and with the instructions to Form 10-Q and Rule 10-01 of Regulation
S-X. Accordingly, they do not include all of the information and footnotes
required by generally accepted accounting principles for complete financial
statements. In the opinion of management, adjustments (consisting of normal
recurring accruals) considered necessary for a fair presentation have been
included. Operating results for the three month periods ending June 30, 1997
are not necessarily indicative of the results that may be expected for the year
ended December 31, 1997. For further information, refer to the financial
statements and footnotes thereto included in the Company's annual report on Form
10-K for the year ended December 31, 1996.
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. The Company currently is seeking to find a business
opportunity that will provide operations and a source of working capital for the
Company.
<PAGE>
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 and Reports on Form 8-K. . . . . . . . .None
<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.
/S/ August 17, 1997 /S/ Jay Geier
Date ------------------- By:--------------------
August 17, 1997 Jay Geier, President
Exhibitronix, Inc.
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> JUN-30-1997
<CASH> 3,381
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 3,381
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 3,381
<CURRENT-LIABILITIES> 3,381
<BONDS> 0
0
0
<COMMON> 6,428
<OTHER-SE> (6,428)
<TOTAL-LIABILITY-AND-EQUITY> 3,381
<SALES> 0
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 4,800
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> (4,800)
<INCOME-TAX> 0
<INCOME-CONTINUING> (4,800)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (4,800)
<EPS-PRIMARY> (.00)
<EPS-DILUTED> 0
</TABLE>
