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Previous: NYLIFE GOVERNMENT MORTGAGE PLUS LTD PARTNERSHIP, 8-K, 1996-07-12 |
Next: CURBSTONE ACQUISITION CORP, 10-K, 1996-07-12 |
<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
(Mark One)
[ X ] QUARTERLY REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES
EXCHANGE ACT OF 1934
FOR QUARTER ENDED: SEPTEMBER 30, 1995; OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
FOR THE TRANSITION PERIOD _________ TO __________
COMMISSION FILE NUMBER: 33-26750
CURBSTONE ACQUISITION CORP
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Delaware 75-2254743
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
3900 PARADISE ROAD, SUITE 263, LAS VEGAS, NEVADA 89109
(Address of principal executive offices) (Zip Code)
(702) 734-8721
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since 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 a
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes [ X ] No [ ]
On September 30, 1995, there were 1,325,000 shares of the registrant's
Common Stock, $.0001 par value, outstanding.
<PAGE> 2
PART I - FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS.
The condensed 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 disclosure
normally included in financial statements prepared in accordance with generally
accepted accounting principles have been condensed or omitted pursuant to such
rules and regulations, although the Company believes that the disclosures are
adequate to make the information presented not misleading.
In the opinion of the Company, all adjustments, consisting of only
normal recurring adjustments, necessary to present fairly the financial position
of the Company as of September 30, 1995 and the results of its operations and
changes in its financial position from inception through September 30, 1995 have
been made. The results of its operations for such interim period is not
necessarily indicative of the results to be expected for the entire year.
PART II - OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS.
At the present time there are no legal proceedings against the Company
and the Company is unaware of any unasserted claim or assessment which will have
a material effect on the financial position or future operations of the Company.
ITEM 2. CHANGES IN SECURITIES.
Not required.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES.
Not required.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
Not required.
ITEM 5. OTHER INFORMATION.
Not required.
2
<PAGE> 3
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.
(a) With the exception of the Unaudited Financial Statements for the
period covered by this report which are attached hereto, no other exhibits have
been filed with this Form 10-Q.
(b) No reports on Form 8-K were filed during the quarter for which
this report covers.
3
<PAGE> 4
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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.
CURBSTONE ACQUISITION CORP.
(REGISTRANT)
Date: July 1, 1996 \S\ Thomas Hantges
------------------
By: Thomas Hantges
President
Date: July 1, 1996 \S\ Thomas R. Brooksbank
------------------------
By: Thomas R. Brooksbank
Chief Financial Officer
4
<PAGE> 5
CURBSTONE ACQUISITION CORP.
(A DEVELOPMENT STAGE COMPANY)
BALANCE SHEETS
<TABLE>
<CAPTION>
Sept. 30, Dec. 31,
1995 1994
-------- -------
Assets (Unaudited)
<S> <C> <C>
Cash $ - $ -
-------- -------
Total Assets $ - $ -
======== =======
Liabilities and Stockholders' Equity
Stockholders' Equity:
Preferred stock, $1.00 par value
1,000,000 shares authorized, none
issued & outstanding - -
Common stock, $.0001 par value 50,000,000
shares authorized, 1,100,000 issued &
outstanding in 1994, 1,325,000 issued
& outstanding in 1995 $ 85 $ 85
Additional paid-in capital 15,940 15,940
Deficit accumulated during development stage (16,025) (16,025)
-------- -------
Total liabilities and
stockholders' equity $ - $ -
======== =======
</TABLE>
Note: The balance sheet at December 31, 1994 has been taken from the audited
financial statements.
1
<PAGE> 6
CURBSTONE ACQUISITION CORP.
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF OPERATIONS
FOR THE PERIOD FROM NOVEMBER 29, 1988 (INCEPTION)
TO SEPTEMBER 30, 1995
(UNAUDITED)
<TABLE>
<CAPTION>
November 29,
1988
Nine Months Ended (Inception) to
September 30, September 30, September 30,
1995 1994 1995
------------ ------------ ------------
<S> <C> <C> <C>
REVENUES: $ - $ - $ -
------------ ------------ ------------
EXPENSES:
General and administrative - - 16,025
------------ ------------ ------------
Net loss $ - $ - $ (16,025)
============ ============ ============
Net loss per common share $ - $ - $ (.012)
============ ============ ============
Weighted average common
shares outstanding 1,325,000 1,100,000 1,325,000
============ ============ ============
</TABLE>
2
<PAGE> 7
CURBSTONE ACQUISITION CORP.
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF STOCKHOLDERS' EQUITY
FOR THE PERIOD FROM NOVEMBER 29, 1988 (INCEPTION)
TO SEPTEMBER 30, 1995
(UNAUDITED)
<TABLE>
<CAPTION>
Accumulated
Number Additional Deficit
of Paid During
Common in Development
Shares Amount Capital Stage Total
---------- ------ -------- --------- ------
<S> <C> <C> <C> <C> <C>
BALANCE, NOVEMBER 29, 1988 - $ - $ - $ - $ -
Net loss, 1988 - - - - -
---------- ------ -------- --------- ------
BALANCE, DECEMBER 31, 19 - - - - -
Stock Issued January 25, 1989 500,000 50 3,200 (6,000) (2,750)
Stock issued under stock bonus plan 250,000 - - - -
Stock issued for converted debentures 250,000 25 3,725 - 3,750
Net Loss, 1989 - - - (880) (880)
---------- ------ -------- --------- ------
BALANCE, DECEMBER 31, 1989 1,000,000 75 6,925 (6,880) 120
Net Loss, 1990 - - - (120) (120)
---------- ------ -------- --------- ------
BALANCE, DECEMBER 31, 1990,
1991, 1992 AND 1993 1,000,000 75 6,925 (7,000) -
Stock issued for legal fees 100,000 10 4,990 - 5,000
Additional paid in capital
for accounting fees - - 4,025 - 4,025
Net loss, 1994 - - - (9,025) (9,025)
---------- ------ -------- --------- ------
BALANCE, DECEMBER 31, 1994 1,100,000 85 15,940 (16,025) -
Additional paid in Capital
issued for directors' fees 225,000 - - - -
---------- ------ -------- --------- ------
BALANCE, SEPTEMBER 30, 1995 1,325,000 $ 85 $ 15,940 $ (16,025) $ -
========== ====== ======== ========= ======
</TABLE>
3
<PAGE> 8
CURBSTONE ACQUISITION CORP.
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF CASH FLOWS
FOR THE PERIOD FROM NOVEMBER 29, 1988 (INCEPTION)
TO SEPTEMBER 30, 1995
(UNAUDITED)
<TABLE>
<CAPTION>
November 29,
1988
Nine Months Ended (Inception) to
September 30, September 30, September 30,
1995 1994 1995
------- --------- ---------
<S> <C> <C> <C>
NET CASH FLOWS FROM OPERATING ACTIVITIES:
NET LOSS $ - $ - $ (16,025)
ADJUSTMENTS TO RECONCILE NET INCOME TO
NET CASH PROVIDED BY OPERATING ACTIVITIES:
Issuance of stock for cash and services - - 8,250
------- --------- ---------
Net cash used in operating activities - - (7,775)
CASH FLOWS USED IN INVESTING ACTIVITIES: - - -
CASH FLOWS FROM FINANCING ACTIVITIES:
Additional paid in capital - - 4,025
Proceeds from issuance of Convertible - - 3,750
Debentures ------- --------- ---------
Net cash provided by financing
activities - - 7,775
------- --------- ---------
Net increase (decrease) in cash $ - $ - $ -
</TABLE>
4
<TABLE> <S> <C>
<ARTICLE> 5
<CIK> 0000846005
<NAME> CURBSTONE ACQUISITION CORP
<MULTIPLIER> 1
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JAN-01-1995
<PERIOD-END> SEP-30-1995
<EXCHANGE-RATE> 1
<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> 85
<OTHER-SE> (85)
<TOTAL-LIABILITY-AND-EQUITY> 0
<SALES> 0
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 0
<INCOME-TAX> 0
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 0
<EPS-PRIMARY> 0
<EPS-DILUTED> 0
</TABLE>
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