SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 10-Q
(Mark One)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 1999
OR
[ ] 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 ____333-61217______
Atlas Futures Fund, Limited Partnership
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(Exact Name of Registrant as Specified in Its Charter)
Delaware 51-0380494
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(State or Other Jurisdiction of (I.R.S. Employer
Incorporation or Organization) Identification No.)
5916 N. 300 West, Fremont, IN 46737
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(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, Including Area Code (219) 833-1505
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Former Name, Address and Fiscal Year, if Changed, Since Last Report
No such changes occurred
Indicate by check [X] 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 [ ]
<PAGE>
Part 1 - FINANCIAL INFORMATION
Item 1. Financial Statements.
The unaudited financial statements for the Registrant for the first quarter
ended March 31, 1999 are attached hereto and made a part hereof.
Item 2. Management's Discussion and Analysis of Financial Condition and
Results of Operations.
The Registrant has filed for public registration on Form S-1 of 7,000 Units of
Limited Partnership Interests (the "Units"). The Partnership intends to
assign the proceeds from the sale of Units to professional managers ("Commodity
Trading Advisors" as that term is defined by the Commodity Exchange Act,
7 U.S.C. S1, et seq.) to engage in the business of trading commodities. No
sales of Units have been made. All expenses have been paid from (i) the
proceeds of subscription to Units by the General Partner and its principal,
who is also the sole limited partner, and (ii) the advance of expenses by the
General Partner and its Affiliates. The General Partner will be reimbursed for
the expenses advanced.
Sales of Units will commence at the price of $1,000 per Unit upon the effective
date of its Registration Statement. The price was determined by the General
Partner and has no relationship to the current or projected market value of the
Units. All proceeds from the sale of Units will be deposited into escrow and
no operations will commence until the face amount of $700,000 in Units is sold.
After break of escrow and the commencement of operations, Units will continue
to be sold at the month end market value after the addition of profits and
deduction of losses and expenses, including reserves for contingent claims,
until a total of $7,000,000 in Units are sold or the offering terminates. For
complete details, see the Registration Statement on file with the Securities
and Exchange Commission.
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
The Partnership tax return is in progress and is expected to be filed within
the time permitted by the current extension.
1
<PAGE>
Item 6. Exhibits and Reports on Form 8-K
(a) None
(b) No reports on Form 8-K
SIGNATURES
Pursuant to the requirements of Section 13 or 15 (d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this Form 10-Q for the
period ended March 31, 1999, to be signed on its behalf by the undersigned,
thereunto duly authorized.
Registrant: Atlas Futures Fund, Limited Partnership
By Ashley Capital Management, Incorporated
Its General Partner
By: /s/ Shira Del Pacult
Ms. Shira Del Pacult
Sole Director, Sole Shareholder,
President and Treasurer
Date: May 14, 1999
2
<PAGE>
Atlas Futures Fund, Ltd. Partnership
(A Delaware Limited Partnership)
Statement of Financial Condition
as of March 31, 1999
ASSETS
3/31/99
Cash in Checking - Star Financial Bank 2,000.00
Equity in Commodity Futures Trading Accounts -
Cash 0
Federal Securities at Cost (Plus: Accrued Interest) 0
Unrealized Gain (Loss) on Open Futures and
Option Contracts 0
---------
Total Assets $2,000.00
=========
LIABILITIES AND PARTNERS' EQUITY
Liabilities:
Management Fees Payable to CTAs 0
Incentive Fees Payable to GP 0
Management Fees Payable to GP 0
Reporting Costs Payable 0
Audit Fees Accrued 0
Commissions Payable to IB 0
Partner Redemptions Payable 0
Total Liabilities 0
Partners' Capital:
General Partner 1.00 Units at Per Unit of 1,000 1,000
Limited Partners 1.00 Units at Per Unit of 1,000 1,000
Total Partners' Capital 2,000
---------
Total Liabilities and Partners' Capital $2,000
=========
F-2
<PAGE>
Atlas Futures Fund, Ltd. Partnership
(A Delaware Limited Partnership)
Statement of Operations
For the Period Ended
March 31, 1999
Current Year to
Month Date
Income:
Interest Paid By Brokers 0.00 0.00
Realized Gain Federal Securities 0.00 0.00
Realized Gain (Loss) from Futures Trading 0.00 0.00
Change in Open Trade Equity Futures Positions 0.00 0.00
Realized Gain (Loss) from Options Trading 0.00 0.00
Change in Unrealized Gain (Loss)
Option Positions 0.00 0.00
Gain (Loss) Due to Currency Conversions FX 0.00 0.00
Redemption Penalty Income 0.00 0.00
---------------------
Total Income from Operations 0.00 0.00
Expenses:
Org. & Syndication Costs Expensed 0.00 0.00
Brokerage Commissions Paid 0.00 0.00
CTA Management Fees 0.00 0.00
GP Incentive Fees 0.00 0.00
GP Management Fees 0.00 0.00
Operating & Administrative Expenses 0.00 0.00
Reporting Costs 0.00 0.00
Audit Fees 0.00 0.00
Legal Fees 0.00 0.00
---------------------
Total Expenses from Operations
Net Income from Operations 0.00 0.00
=====================
End of Period Net Asset Value Per Unit 1,000.00 1,000.00
% Increase (Decrease) in N.A.V. Per Unit 0.00% 0.00%
To the best of the knowledge and belief of the undersigned, the information
contained in this account statement is accurate and complete as of the dates
indicated.
/s/ Shira Del Pacult
Ms. Shira Del Pacult, President
Ashley Capital Management, Inc.
General Partner
F-2
<PAGE>
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