UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 10-Q
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended October 31, 2000
Commission file number 000-18081
RAMEX SYNFUELS INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
NEVADA 87-0360039
(State or other jurisdiction of (IRS Employer
incorporation or organization) Identification Number)
2204 W. Wellesley
Spokane, WA
(Address of principal executive offices)
99205
(Zip Code)
(509) 328-9633
(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 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 for the past 90 days.
Yes (X) No ( )
APPLICABLE ONLY TO CORPORATE ISSUERS
Indicate the number of shares outstanding of each of the issuer's classes of
common stock as of October 31, 2000:
28,138,765
<PAGE>
PART I
ITEM 1 FINANCIAL INFORMATION
Statement of Financial Position as of
RAMEX SYNFUELS INTERNATIONAL, INC. October 31, 2000 and January 31, 2000
------------------------------------- --------------------------------------
ASSETS
------
October 31, January 31,
2000 2000
------------- -------------
CURRENT ASSET - Cash $ 68 $ 10,484
------------- -------------
TOTAL ASSETS $ 68 $ 10,484
============= =============
LIABILITIES AND STOCKHOLDERS' EQUITY
-------------------------------------
CURRENT LIABILITIES
Accounts payable $ 45,791 $ 46,969
Related party payables 3,244 4,158
------------- -------------
Total current liabilities 49,035 51,127
------------- -------------
COMMITMENTS AND CONTINGENCIES 10,100 10,100
------------- -------------
STOCKHOLDERS' EQUITY
Common stock; $.01 par value; 125,000,000
shares authorized; 28,138,765 shares issued
and outstanding 281,387 281,387
Additional paid-in capital 4,647,011 4,618,402
Accumulated deficit (4,987,465) (4,950,532)
------------- -------------
Total stockholders' equity (59,067) (50,743)
------------- -------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 68 $ 10,484
============= =============
The accompanying notes are an integral part of these financial statements.
<PAGE>
Statement of Operations For the Three and
RAMEX SYNFUELS INTERNATIONAL, INC. Nine Month Periods Ended October 31, 2000
And 1999
---------------------------------- -----------------------------------------
October 31, 2000 October 31, 1999
-------------------------- --------------------------
Three Nine Three Nine
Months Months Months Months
------------ ------------ ------------ ------------
REVENUE $ -0- $ -0- $ -0- $ -0-
------------ ------------ ------------ ------------
GENERAL AND
ADMINISTRATIVE EXPENSES 13,796 36,933 3,816 16,215
------------ ------------ ------------ ------------
NET (LOSS) $ (13,796) $ (36,933) $ (3,816) $ (16,215)
============ ============ ============ ============
NET (LOSS) PER SHARE $ (NIL) $ (NIL) $ (NIL) $ (NIL)
============ ============ ============ ============
BASIC AND DILUTED
WEIGHTED AVERAGE NUMBER
OF COMMON SHARES
OUTSTANDING 28,138,765 28,138,765 28,138,765 28,138,765
============ ============ ============ ============
The accompanying notes are an integral part of these financial statements.
<PAGE>
Statement of Cash Flows For the Nine Month
RAMEX SYNFUELS INTERNATIONAL, INC. Periods Ended October 31, 2000 and 1999
---------------------------------- ------------------------------------------
October 31, October 31,
2000 2000
------------- -------------
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) $ (36,933) $ (16,215)
Add non-cash item: common stock
issued for services - 500
Increase (decrease) in payables
and due to officers (2,092) 1,138
------------- -------------
Net uses of cash from operating activities (39,025) (14,577)
------------- -------------
CASH FLOWS FROM FINANCING ACTIVITIES
Contribution of additional paid-in capital 28,609 -
Sale of common stock - 10,000
------------- -------------
NET INCREASE IN CASH (10,416) (4,577)
CASH AT BEGINNING OF PERIOD 10,484 6,509
------------- -------------
CASH AT END OF PERIOD $ 68 $ 1,932
============= =============
The accompanying notes are an integral part of these financial statements.
<PAGE>
RAMEX SYNFUELS Notes to Financial Statements
INTERNATIONAL, INC. At October 31, 2000
------------------------- ------------------------------
NOTE 1 - MANAGEMENT OPINION
The financial statements of Ramex Synfuels International, Inc., ("Ramex")
included herein have been prepared without audit, pursuant to the rules and
regulations of the Securities and Exchange Commission. Although, certain
information normally included in financial statements prepared in accordance
with generally accepted accounting principles has been condensed or omitted,
Ramex believes that the disclosures are adequate to make the information
presented not misleading. The condensed financial statements should be read in
conjunction with the financial statements and notes thereto included in Ramex's
annual report on Form 10-K for the fiscal year ended January 31, 2000.
<PAGE>
ITEM 2 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS
Financial Condition:
The Company's only asset as of October 31, 2000 was cash of $68. Current
liabilities as of that date were $49,035, which resulted in a working capital
deficiency of $48,967. This compares to a working capital deficiency of $40,643
as of January 31, 2000 which was the end of the most recent fiscal year.
Results of Operations:
The Company had no revenue for the quarter ended October 31, 2000. General and
administrative expenses of $13,796 were comprised of normal operating expenses
such as accounting, office, telephone and filing fees.
PART II
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
NONE
<PAGE>
SIGNATURES
Pursuant to the requirements of Section 13 of the Securities and Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
RAMEX SYNFUELS INTERNATIONAL, INC.
----------------------------------
(Registrant)
/s/ Maynard M. Moe /s/ Maynard M. Moe
--------------------------------------- ----------------------------------
Maynard M. Moe Kerry L. Weger
President and Chief and Secretary-Treasurer and
Chief Executive Officer Chief Financial Officer
Date: December 5, 2000 Date: December 5, 2000
