U. S. Securities and Exchange Commission
Washington, D. C. 20549
FORM 10-QSB
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934
For the quarterly period ended September 30, 1995
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
For the transition period from _______________ to _______________
Commission File No. 1-13134
AMERICAN NORTEL COMMUNICATIONS, INC.
(Name of Small Business Issuer in its Charter)
WYOMING 87-0507851
(State or Other Jurisdiction of (I.R.S. Employer I.D. No.)
incorporation or organization)
7201 East Camelback Road, Suite 320
Scottsdale, AZ 85251
(Address of Principal Executive Offices)
Issuer's Telephone Number: (602) 945-1266
Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Sections 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.
(1)Yes / / No /X/ (2) Yes /X/ No / /
APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDINGS DURING THE PRECEDING FIVE YEARS
Check whether the registrant filed all documents and reports
required to be filed by Section 12, 13 or 15(d) of the Exchange Act after the
distribution of securities under a plan confirmed by court.
Yes / / No / /
APPLICABLE ONLY TO CORPORATE ISSUERS
Indicate the number of shares outstanding of each of the Registrant's classes
of common stock, as of the latest practicable date:
November 18, 1996
Common Voting Stock - 11,746,500
PART I - FINANCIAL INFORMATION
Item 1.Financial Statements.
<TABLE>
<CAPTION>
AMERICAN NORTEL COMMUNICATIONS, INC.
INCOME STATEMENT
For the THREE MONTHS ended SEPTEMBER 30, 1995
Q U A R T E R YEAR TO DATE
AMOUNT PERCENT AMOUNT PERCENT
<S> <C> <C> <C> <C>
INCOME:
INCOME - AIRTIME $ 5,000.00 100.00 $ 5,000.00 100.00
-------------- ------ -------------- ------
TOTAL INCOME 5,000.00 100.00 5,000.00 100.00
COST OF SALES:
COS - AIRTIME 1,100.00 22.00 1,100.00 22.00
-------------- ------ -------------- ------
TOTAL COST OF SALES 1,100.00 22.00 1,100.00 22.00
-------------- ------ -------------- ------
GROSS PROFIT 3,900.00 78.00 3,900.00 78.00
EXPENSES:
AUTOMOBILE 138.49 2.77 138.49 2.77
BANK & SERVICE CHARGES 240.75 4.82 240.75 4.82
BUSINESS PROMOTION 200.99 4.02 200.99 4.02
COMMISSIONS 1,000.00 20.00 1,000.00 20.00
MEALS & ENTERTAINMENT 268.31 5.37 268.31 5.37
OPERATING SUPPLIES 247.61 4.95 247.61 4.95
PAYROLL TAXES & INSURANCE 1,163.00 23.26 1,163.00 23.26
POSTAGE / FREIGHT / DELIVERY 30.50 0.61 30.50 0.61
PROFESSIONAL FEES 55,000.00 1,100.00 55,000.00 1,100.00
RENT 2,000.00 40.00 2,000.00 40.00
SALARIES 12,000.00 240.00 12,000.00 240.00
TELEPHONE 2,935.70 58.71 2,935.70 58.71
TRAVEL 2,212.90 44.26 2,212.90 44.26
-------------- ------ -------------- ------
TOTAL EXPENSES 77,438.25 1,548.77 77,438.25 1,548.77
-------------- ------ -------------- ------
OPERATING PROFIT OR (LOSS) <73,538.25> <1,470.77> <73,538.25> <1,470.77>
OTHER INCOME (EXPENSE):
INTEREST EXPENSE <30,713.00> <614.26> <30,713.00> <614.26>
DEPRECIATION <1,260.00> <25.20> <1,260.00> <25.20>
STOCK TRANSFER EXPENSES <4,317.73> <86.35> <4,317.73> <86.35>
PENALTIES/INTEREST <728.00> <14.56> <728.00> <14.56>
-------------- ------ -------------- ------
TOTAL OTHER INCOME & EXPENSE <37,018.73> <740.37> <37,018.73> <740.37>
-------------- ------ -------------- ------
NET PROFIT OR (LOSS) $ <110,556.98> <2,211.14> $ <110,556.98> <2,211.14>
============== ====== ============== ======
</TABLE>
<TABLE>
<CAPTION>
AMERICAN NORTEL COMMUNICATIONS, INC.
BALANCE SHEET
As of SEPTEMBER 30, 1995
<S> <C> <C>
A S S E T S
CURRENT ASSETS:
CASH IN BANK - NATIONAL $ <1,285.56>
--------------
TOTAL CURRENT ASSETS $ <1,285.56>
PROPERTY AND EQUIPMENT:
EQUIPMENT 35,252.19
ACCUMULATED DEPRECIATION <1,260.00>
--------------
TOTAL PROPERTY & EQUIPMENT 33,992.19
--------------
TOTAL ASSETS $ 32,706.63
==============
LIABILITIES AND STOCKHOLDERS EQUITY
CURRENT LIABILITIES:
ACCOUNTS PAYABLE - REGULAR $ 79,497.19
FEDERAL PAYROLL TAXES PAYABLE 3,464.00
STATE WITHHOLDING PAYABLE 72.84
STATE UNEMPLOYMENT PAYABLE 189.00
FEDERAL UNEMPLOYMENT PAYABLE 56.00
--------------
TOTAL CURRENT LIABILITIES 83,279.03
LONG TERM LIABILITIES:
NOTES PAYABLE 675,000.00
ACCRUED INTEREST 219,202.00
NOTE PAYABLE/WILCOM, INC. 52,025.58
--------------
TOTAL LONG TERM LIABILITIES 946,227.58
--------------
TOTAL LIABILITIES 1,029,506.61
STOCKHOLDERS EQUITY:
COMMON STOCK 20,198,157.00
RETAINED EARNINGS <21,084,400.00>
Current Earnings (Loss) <110,556.98>
--------------
TOTAL STOCKHOLDERS EQUITY <996,799.98>
--------------
TOTAL LIABILITIES & STOCKHOLDERS EQUITY $ 32,706.63
==============
</TABLE>
<PAGE>
Item 2. Management's Discussion and Analysis or Plan of Operation.
PART II - OTHER INFORMATION
Item 1. Legal Proceedings.
None; not applicable.
Item 2. Changes in Securities.
None; not applicable.
Item 3. Defaults Upon Senior Securities.
None; not applicable.
Item 4. Submission of Matters to a Vote of Security Holders.
None; not applicable.
Item 5. Other Information.
Item 6. Exhibits and Reports on Form 8-K.
(a)Exhibits.
27 Financial Data Sheet
(b)Reports on Form 8-K.
No reports were filed on Form 8-K during the quarter for which
this report is filed.
<PAGE>
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.
AMERICAN NORTEL COMMUNICATIONS, INC.
Date: November 18, 1996 By /S/ W.P. Williams, Jr.
----------------- ---------------------------------
W. P. WILLIAMS, JR., Director
Chief Executive Officer
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 5
<LEGEND>
</LEGEND>
<MULTIPLIER> 1
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> JUN-30-1995
<PERIOD-END> SEP-30-1995
<CASH> (1,285,56)
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> (1,285,56)
<PP&E> 35,252
<DEPRECIATION> 1,260
<TOTAL-ASSETS> 32,706
<CURRENT-LIABILITIES> 83,279
<BONDS> 0
0
0
<COMMON> 20,198,157
<OTHER-SE> 21,194,956
<TOTAL-LIABILITY-AND-EQUITY> 32,706
<SALES> 5,000
<TOTAL-REVENUES> 5,000
<CGS> 1,100
<TOTAL-COSTS> 78,538
<OTHER-EXPENSES> 37,018
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 30,713
<INCOME-PRETAX> (110,556)
<INCOME-TAX> 0
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (110,556)
<EPS-PRIMARY> (0.02)
<EPS-DILUTED> (0.01)
</TABLE>
