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SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
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FORM 10-Q
[ x ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 1996.
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from:
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Commission file number 0-27480
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LAHAINA ACQUISITIONS, INC.
(Exact name of Registrant as specified in its charter.)
COLORADO 84-1325695
(State of other jurisdiction of (IRS Employer
incorporation or organization) Identification
No.)
3600 South Pierce Street, 2-102
Lakewood, Colorado 80235
(Address of principal executive offices, including zip code.)
(303) 986-6923
Registrant's telephone number, including area code.
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 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 NO
(Not subject to filing requirements until February 27, 1996.)
The number of shares outstanding of the Registrant's Common
Stock, no par value per share, at May 13, 1996 was 996,500
shares.
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PART I
ITEM 1. FINANCIAL STATEMENTS.
LAHAINA ACQUISITIONS, INC.
BALANCE SHEET
March September
31, 1996 30, 1995
(Unaudited)
ASSETS
None $ -0- $ -0-
LIABILITIES AND STOCKHOLDERS EQUITY
Liabilities
Loan payable officer 450 -0-
Stockholders equity:
Common stock, 800,000,000
shares authorized no par
value; 996,500 shares
issued and outstanding (Note A) -0- -0-
Preferred stock,
10,000,000 authorized,
no par value -0- -0-
Accumulated deficit (450) -0-
Total -0- -0-
See accompanying notes to the financial statements
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LAHAINA ACQUISITIONS, INC.
STATEMENT OF OPERATIONS
(Unaudited)
Three Months Ended Six Months Ended
March 31 March 31
1996 1995 1996 1995
Revenues: $ -0- $ -0- $ -0- $ -0-
Expenses:
Auditing fee: -0- -0- $ 450 -0-
Net Income (loss): -0- -0- $ (450) -0-
See accompanying notes to the financial statements
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LAHAINA ACQUISITIONS, INC.
STATEMENT OF CASH FLOWS
(Unaudited)
Six Months Ended March 31,
1996 1995
Cash flows from operations:
Net income (loss) $ (450) $ -0-
Net cash (Used) from
operating activities: $ (450) $ -0-
Cash flows from investing
activities: $ -0- $ -0-
Net cash (Used) by
investing activities: $ -0- $ -0-
Cash Flows from financing
activities:
Loan; officer $ 450 $ -0-
Net cash (Used) by financing
activities: $ 450 $ -0-
Beginning cash balance $ -0- $ -0-
Ending cash balance $ -0- $ -0-
See accompanying notes to the financial statements.
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LAHAINA ACQUISITIONS, INC.
NOTES TO FINANCIAL STATEMENTS
MARCH 31, 1996
Note A - Summary of Significant Accounting Policies
ORGANIZATION
Lahaina Acquisitions, Inc. was incorporated under the laws of the
state of Colorado on April 5, 1989. The Company is in the
development stage and has had no operations except for an audit
of the Company for the years ending September 30, 1995, 1994, and
1993. This expense was paid by the president of the Company.
The Company is in the development stage as more fully defined in
statement no. 7 of the Financial Accounting Standards Board. The
Company intends to actively seek, locate, evaluate, structure,
and complete mergers with or acquisitions of private companies,
partnerships or sole proprietorships.
The Company's capital stock was issued in units consisting of:
1 share of common no par stock.
2 class "A" common stock purchase warrants.
2 class "B" common stock purchase warrants.
Each class "A" warrant entitles the holder to purchase one share
of common stock at $1.00 per share.
Each class "B" warrant entitles the holder to purchase one share
of common stock at $1.50 per share.
These common stock purchase warrants expire May 10, 1999. The
Company has the right to redeem the warrants upon 30 days written
notice at $.0001 per share.
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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULT OF OPERATIONS.
Results of Operations - Inception (April 5, 1989) through
March 31, 1996.
The Registrant is considered to be in the development stage as
defined in Statement of Financial Accounting Standards No. 7.
There have been no operations since incorporation.
Liquidity and Capital Resources.
The Registrant has no cash as of March 31, 1996.
There have been no material changes in the Registrant's results
of operations, since filing its Form 10-A with the Securities and
Exchange Commission on March 28, 1996. Said Form 10-A is
incorporated herein by reference.
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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.
Dated this 13th day of May, 1996.
LAHAINA ACQUISITIONS, INC.
(the "Registrant")
BY: /s/ Philip J. Davis, President and a member of the Board of
Directors
BY: /s/ Charles C. Van Gundy, Treasurer, Chief Financial Officer,
Principal Accounting Officer and a member of the Board of
Directors
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EXHIBIT INDEX
Exhibit
No. Description
27 Financial Data Schedule
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
Statement of Financial Condition at March 31, 1996 (Unaudited) and the
Statement of Income for the six months ended March 31, 1996 (Unaudited) and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1995
<PERIOD-END> MAR-31-1996
<CASH> 0
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 0
<CURRENT-LIABILITIES> 450
<BONDS> 0
0
0
<COMMON> 0
<OTHER-SE> 0
<TOTAL-LIABILITY-AND-EQUITY> 450
<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>
