Page 1
UNITED STATES
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 quarter ended April 30, 1999
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from ________ to __________
Commission File Number: 000-18257
HOLMES MICROSYSTEMS, INC.
(Exact name of Registrant as specified in charter)
TEXAS 91-1939829
State or other jurisdiction of I.R.S. Employer I.D. No.
incorporation or organization
57 West 200 South, Suite 101, Salt Lake City, UT 84101
(Address of principal executive offices) (Zip Code)
Issuer's telephone number, including area code: (801) 269-9500
Check whether the Issuer (1) has 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 fling requirements for the past 90 days. (1) Yes
[X] No [ ] (2) Yes [ ] No [X]
State the number of shares outstanding of each of the Issuer's classes of
common equity as of the latest practicable date: At June 18, 1999, there were
48,051,547 shares of the Registrant's Common Stock outstanding.
PART I
Item 1. Financial Statements
The financial statements included herein have been prepared by the
Company, without audit, pursuant to the rules and regulations of the
Securities and Exchange Commission. Certain information and footnote
disclosures normally included in financial statements prepared in accordance
with generally accepted accounting principles have been omitted. However, in
the opinion of management, all adjustments (which include only normal
recurring accruals) necessary to present fairly the financial position and
results of operations for the periods presented have been made. The results
for interim periods are not necessarily indicative of trends or of results to
be expected for the full year. These financial statements should be read in
conjunction with the financial statements and notes thereto included in the
Company's Form 10-KSB, for the year ended January 31, 1999.
<PAGE>
Holmes Microsystems, Inc.
Balance Sheets
April January
30, 1999 31, 1999
ASSETS
Current Assets
Cash $ -0- $ -0-
Total Assets $ -0- $ -0-
LIABILITIES & STOCKHOLDERS' EQUITY
Current Liabilities
Judgements payable $ 526,711 $ 526,711
Notes Payable 84,000 84,000
Total Current Liabilities 610,711 610,711
Stockholders' Equity
Preferred stock - series A; $.001 par value;
100,000 shares authorized;
-0- shares issued and outstanding -0- -0-
Preferred stock - series B; $.001 par value;
5,000 shares authorized;
-0- shares issued and outstanding -0- -0-
Common Stock; $.001 Par Value;
49,000,000 shares authorized;
48,051,547 shares issued and outstanding 48,051 48,051
Paid In Capital 4,342,333 4,342,333
Accumulated Deficit (5,001,104) (5,001,104)
Total Stockholder' Equity (610,711) (610,711)
Total Liabilities & Stockholders' Equity $ -0- $ -0-
<PAGE>
Holmes Microsystems, Inc.
Statement of Operations
For the three For the three
Months ended Months ended
April April
30, 1999 30, 1998
Revenues $ -0- $ -0-
Operating Expenses -0- -0-
Net Income $ -0- $ -0-
Net Income Per Share $ -0- $ -0-
<PAGE>
Holmes Microsystems, Inc.
Statements of Cash Flows
For the three For the three
Months ended Months ended
April April
30, 1999 30, 1998
Cash Flows from Operating Activities
Net Income $ -0- $ -0-
Cash at Beginning of Year -0- -0-
Cash at End of Year $ -0- $ -0-
<PAGE>
Item 2. Management's Discussion and Analysis of Financial Condition and
Results of Operations
The Company had no revenues from operations during the fiscal year ended
January 31, 1999, or during the first quarter ended April 31, 1999.
The Company has no plans to raise or seek additional funding, but intends
to seek a new business venture or enterprise for the Company. The Company has
no significant operating costs or capital obligations.
SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
HOLMES MICROSYSTEMS, INC.
Date: June 18, 1999 By /s/ Kip Eardley, President
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<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> JAN-31-2000
<PERIOD-END> APR-30-1999
<CASH> 0
<SECURITIES> 0
<RECEIVABLES> 0
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