<PAGE>
U.S. SECURITIES AND 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 quarterly period ended September 30, 1996
Commission File Number: 33-31067
BEECHPORT CAPITAL CORP.
----------------------------------------------------------------
(Exact name of small business issuer as specified in its charter)
Colorado 84-1137359
- ---------------------------- ---------------------------------
(State of other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
16178 East Prentice Place, Aurora, Colorado 80015
----------------------------------------------------------
(Address of principal executive offices including zip code)
(303) 690-6787
--------------------------
(Issuer's telephone number)
Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act 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 ---
As of September 30, 1996, 1,200,000 shares of common stock, no par value per
share, were outstanding.
Transitional Small Business Disclosure Format (check one): Yes___ No X
<PAGE>
BEECHPORT CAPITAL CORP.
INDEX
PART I. FINANCIAL INFORMATION Page No.
ITEM I. Financial Statements
Balance Sheets as of September 30, 1996
and December 31, 1995 3
Statements of Operations for the Three
Months Ended September 30, 1996 and for the
Nine Months Ended September 30, 1996 4
Statements of Cash Flows for the Three
Months Ended September 30, 1996 and for the
Nine Months Ended September 30, 1996 5
Notes to Financial Statements 6
Management's Discussion and Analysis
or Plan of Operations 7
PART II. OTHER INFORMATION 7
Signatures 8
-2-
<PAGE>
BEECHPORT CAPITAL CORP.
BALANCE SHEETS
(Unaudited)
ASSETS
September 30 December 31
1996 1995
------------ -----------
Current Assets $ 652 $ 3,282
Cash 652 3,282
Total Assets $ 652 $ 3,282
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable $ 11,932 $ 2,449
Other 300 -
Total Current Liabilities 12,232 2,449
Stockholders' Equity:
Preferred Stock, no par value,
10,000,000 shares authorized
none issued and outstanding - -
Common Stock, no par value,
750,000,000 shares authorized
1,200,000 shares issued and
outstanding 163,188 163,188
Additional paid-in capital 13,600 13,600
Accumulated deficit (188,368) (175,955)
Total Stockholders' Equity (11,580) (833)
Total Liabilities and Stockholders' Equity $ 652 $ 3,282
The accompanying notes are an integral part of the financial statements.
-3-
<PAGE>
BEECHPORT CAPITAL CORP.
STATEMENTS OF OPERATIONS
(Unaudited)
Three Months Ended September 30, 1996
-------------------------------------
Revenues $ -
Operating Expenses:
Professional fees 2,600
Other 489
Total Operating Expenses 3,089
Net Loss $ (3,089)
Per Share nil
Weighted Average Number of Shares Outstanding 1,200,000
Nine Months Ended September 30, 1996
------------------------------------
Revenues $ -
Operating Expenses:
Professional fees 9,143
Other 3,270
Total Operating Expenses 12,413
Net Loss $ (12,413)
Per Share (.01)
Weighted Average Number of Shares Outstanding 1,200,000
The accompanying notes are an integral part of the financial statements.
-4-
<PAGE>
BEECHPORT CAPITAL CORP.
STATEMENTS OF CASH FLOWS
(Unaudited)
Three Months Ended September 30, 1996
-------------------------------------
Cash Flows Operating Activities:
Net (loss) $ (3,089)
Stock issued for services -
Increase in accounts payable 3,089
Net Cash (Used in) Operating Activities -
Cash Flows from Investing Activities -
Cash Flows from Financing Activities -
Increase in Cash -
Cash, Beginning of Period 652
Cash, End of Period $ 652
Interest Paid $ -
Income Taxes Paid $ -
Nine Months Ended September 30, 1996
------------------------------------
Cash Flows Operating Activities:
Net (loss) $ (12,413)
Stock issued for services -
Increase in accounts payable 9,783
Net Cash (Used in) Operating Activities (2,630)
Cash Flows from Investing Activities -
Cash Flows from Financing Activities -
(Decrease) in Cash (2,630)
Cash, Beginning of Period 3,282
Cash, End of Period $ 652
Interest Paid $ -
Income Taxes Paid $ -
The accompanying notes are an integral part of the financial statements.
-5-
<PAGE>
BEECHPORT CAPITAL CORP.
NOTES TO FINANCIAL STATEMENTS
September 30, 1996 (Unaudited)
(1) CONDENSED FINANCIAL STATEMENTS
The financial statements included herein have been prepared by Beechport
Capital Corp. without audit, pursuant to the rules and regulations of the
Securities and Exchange Commission. Certain information and footnote
disclosures normally included in the financial statements prepared in
accordance with generally accepted accounting principles have been condensed
or omitted as allowed by such rules and regulations, and Beechport Capital
Corp. believes that the disclosures are adequate to make the information
presented not misleading. It is suggested that these financial statements be
read in conjunction with the December 31, 1995 audited financial statements
and the accompanying notes thereto. While management believes the procedures
followed in preparing these financial statements are reasonable, the accuracy
of the amounts are in some respect's dependent upon the facts that will exist,
and procedures that will be accomplished by Beechport Capital Corp. later in
the year.
The management of Beechport Capital Corp. believes that the accompanying
unaudited condensed financial statements contain all adjustments (including
normal recurring adjustments) necessary to present fairly the operations and
cash flows for the periods presented.
-6-
<PAGE>
MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS
Beechport Capital Corp. (the "Company") was organized as a Colorado
corporation on January 24, 1989, in order to evaluate, structure and complete
a merger with, or acquisition of, prospects consisting of private companies,
partnerships of sole proprietorships. The Company may seek to acquire a
controlling interest in such entities in contemplation of later completing an
acquisition. The Company is not limited to any operation or geographic area
in seeking out opportunities. Management has not identified any particular
business or industry within which the Company will seek an acquisition or
merger. The Company has not conducted, nor have others made available to it,
market research supporting the viability of the Company's proposed operations.
The Company generated no revenues during the quarter ended September 30, 1996,
and management does not anticipate any revenues until following the conclusion
of a merger or acquisition, if any, as contemplated by the Company's business
plan.
The Company's capital is limited. The Company anticipates operational costs
will be limited until such time as significant evaluation work is undertaken
regarding prospective mergers or acquisitions.
At September 30, 1996, the Company had no material commitments for capital
expenditures.
PART II OTHER INFORMATION
Item 1. LEGAL PROCEEDINGS
None.
Item 2. CHANGES IN SECURITIES
None.
Item 3. DEFAULTS UPON SENIOR SECURITIES
None.
Item 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
None.
Item 5. OTHER INFORMATION
None.
Item 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) Exhibit 27 - Financial Data Schedule Filed herewith electronically
(b) Reports on Form 8-K.
None.
-7-
<PAGE>
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.
BEECHPORT CAPITAL CORP.
By:/s/ Timothy J. Brasel
Timothy J. Brasel
President (Chief Executive Officer,
Principal Financial and Accounting
Officer)
Date: November 15, 1996
-8-
<PAGE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
balance sheets and statements of operations found on pages 3 and 4 of the
Company's Form 10-QSB for the year to date, and is qualified in its entirety
by reference to such financial statements.
</LEGEND>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> SEP-30-1996
<CASH> 652
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 652
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 652
<CURRENT-LIABILITIES> 12,232
<BONDS> 0
<COMMON> 163,188
0
0
<OTHER-SE> (174,768)
<TOTAL-LIABILITY-AND-EQUITY> 652
<SALES> 0
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 3,089
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> (3,089)
<INCOME-TAX> 0
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 0
<EPS-PRIMARY> 0
<EPS-DILUTED> 0
</TABLE>
