SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
--------------
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, 2000
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
---------------------------------------
(Exact Name of Registrant as Specified in Its Charter)
Delaware 51-0380494
- ------- ----------
(State or Other Jurisdiction of (I.R.S. Employer
Incorporation or Organization) Identification No.)
c/o Corporate Systems, 101 N. Fairfield Drive, Dover DE 19901
- ---------------------------------------- -----
(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, Including Area Code (219) 833-1505
- ------------------------------------------------------------------------
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 [ ]
Part 1 - FINANCIAL INFORMATION
Item 1. Financial Statements.
The unaudited financial statements for the Registrant for the first quarter
ended March 31, 2000 and year to date are attached hereto and made a part
hereof.
Item 2. Management's Discussion and Analysis of Financial Condition and
Results of Operations.
During the past quarter and in the future, Registrant, did and will, pursuant
to the terms of the Partnership Agreement, engage in the business of
speculative trading of commodity futures and options markets through the
services of its commodity trading advisor, Ansbacher Investment Management,
Inc.
The Units are sold at the Net Asset Value per Unit as of the end of the month
in which subscriptions are received by the General Partner. The Partnership
continues to offer Units for sale to the public.
To obtain a return of invested capital or appreciation, if any, purchasers of
Units must look solely to the redemption feature of the Partnership or to the
General Partner, in its sole judgment, to elect to make distributions. There
is no current market for the Units sold and none is expected to develop nor
is the General Partner expected to make distributions.
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
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, 2000, 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 of the
General Partner
Date: May 12, 2000
Atlas Futures Fund
Statement of Operations
For the Quarter Ended
March 31, 2000
(unaudited)
1st Year to
Quarter Date
Income:
Interest Paid By Brokers 5,869.94 5,869.94
Interest from Federal Securities 13,028.86 13,028.86
Realized Gain (Loss) from Futures Trading (142,397.19) (142,397.19)
Change in Open Trade Equity Futures Positions 19,885.12 19,885.12
Realized Gain (Loss) from Options Trading 0.00 0.00
Change in Unrealized Gain (Loss) Option Positions 0.00 0.00
FX Gain (Loss) 678.85 678.85
Redistribution of Syndication Costs 14,597.73 14,597.73
Total Income from Operations (88,336.69) (88,336.69)
Expenses:
Brokerage Commissions Paid 37,528.25 37,528.25
CTA Management Fees 12,509.42 12,509.42
GP Incentive Fees (1,741.05) (1,741.05)
GP Management Fees 4,493.97 4,493.97
Operating & Administrative Expenses 1,581.60 1,581.60
Reporting Costs 4,500.00 4,500.00
Audit Fees 2,080.00 2,080.00
Legal Fees 4,276.00 4,276.00
Total Expenses from Operations 65,228.19 65,228.19
Net Income from Operation (153,564.88) (153,564.88)
End of Period Net Asset Value Per Unit 873.50 873.50
% Increase (Decrease) in Per Unit -8.17% -8.17%
(Prepared from accounts without audit)
by
James Hepner & Company
Atlas Futures Fund
Statement of Financial Condition
as of
March 31, 2000
(unaudited)
ASSETS
Cash in Checking - Star Financial Bank 93,901.87
Equity in Commodity Futures Trading Accounts -
Cash 685,765.44
US Treasury Bills at Cost plus accrued interest 1,192,565.33
Unrealized Gain (Loss) on Open Futures and Option Contracts 25,740.00
Interest Receivable from Brokers 1,644.33
Premium Paid On Options Held Long 0.00
Premium Recvd On Options Held Short 0.00
Accumulated Org Costs 0.00
Undeposited New Partner Capital 15,000.00
Total Asset 2,014,616.97
LIABILITIES AND PARTNERS' EQUITY
Liabilities:
Loan from FIC 0.00
Management Fees Payable 4,482.80
Incentive Fees Payable to GP (1,741.05)
Management Fees Payable to GP 1,611.38
Reporting Costs Payable 1,472.55
Audit Fees Accrued 1,000.00
Commissions Payable to IB 5,055.10
Front End Load Payable 9,900.00
Partner Redemptions Payable 4,125.08
Total Liabilities 25,905.86
Partners' Capital :
General Partner 52.33 Units at Per Unit of 886.343749 46,379.48
Limited Partners 2224.39 Units at Per Unit of 886.343749 1,971,574.83
Total Partners' Capital 2,017,954.31
Total Liabilities And Partners' Capital 2,043,860.17
(Prepared from accounts without audit)
by
James Hepner & Company
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-2000
<PERIOD-END> MAR-31-2000
<CASH> 93,902
<SECURITIES> 1,192,565
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 2,014,617
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 2,014,617
<CURRENT-LIABILITIES> 25,906
<BONDS> 0
0
0
<COMMON> 0
<OTHER-SE> 0
<TOTAL-LIABILITY-AND-EQUITY> 2,014,617
<SALES> 0
<TOTAL-REVENUES> (88,337)
<CGS> 0
<TOTAL-COSTS> 65,228
<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> (153,565)
<EPS-BASIC> 0
<EPS-DILUTED> 0
</TABLE>
