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 December 31, 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 15, 1996
Common Voting Stock - 11,746,500
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PART I - FINANCIAL INFORMATION
Item 1. Financial Statements.
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AMERICAN NORTEL COMMUNICATIONS, INC.
INCOME STATEMENT
For the SIX MONTHS ended DECEMBER 31, 1995
Q U A R T E R YEAR TO DATE
AMOUNT PERCENT AMOUNT PERCENT
<S> <C> <C> <C> <C>
INCOME:
INCOME - AIRTIME $ 59,800.00 100.00 $ 64,800.00 100.00
------------- ---------- --------------- ----------
TOTAL INCOME 59,800.00 100.00 64,800.00 100.00
COST OF SALES:
COS - AIRTIME 13,156.00 22.00 14,256.00 22.00
------------- ---------- --------------- ----------
TOTAL COST OF SALES 13,156.00 22.00 14,256.00 22.00
------------- ---------- --------------- ----------
GROSS PROFIT 46,644.00 78.00 50,544.00 78.00
EXPENSES:
AUTOMOBILE 254.31 0.43 392.80 0.61
BANK & SERVICE CHARGES 92.76 0.16 333.51 0.51
BUSINESS PROMOTION 26.36 0.04 227.35 0.35
DUES AND SUBSCRIPTIONS 560.00 0.94 560.00 0.86
COMMISSIONS 2,025.00 3.39 3,025.00 4.67
MEALS & ENTERTAINMENT 32.27 0.05 300.58 0.46
INSURANCE 381.00 0.64 381.00 0.59
OFFICE SUPPLIES 73.85 0.12 73.85 0.11
COMPUTER SUPPLIES 642.60 1.07 642.60 0.99
OPERATING SUPPLIES 272.50 0.46 520.11 0.80
PAYROLL TAXES & INSURANCE 918.00 1.54 2,081.00 3.21
POSTAGE / FREIGHT / DELIVERY 70.95 0.12 101.45 0.16
PROFESSIONAL FEES 0.00 0.00 55,000.00 84.88
RENT 3,293.24 5.51 5,293.24 8.17
SALARIES 12,000.00 20.07 24,000.00 37.04
TELEPHONE 1,838.81 3.07 4,774.51 7.37
TRAVEL 479.98 0.80 2,692.88 4.16
------------- ---------- --------------- ----------
TOTAL EXPENSES 22,961.63 38.41 100,399.88 154.94
------------- ---------- --------------- ----------
OPERATING PROFIT OR (LOSS) 23,682.37 39.59 <49,855.88> <76.94>
OTHER INCOME (EXPENSE):
INTEREST EXPENSE <30,713.00> <51.36> <61,426.00> <94.79>
DEPRECIATION <1,260.00> <2.11> <2,520.00> <3.89>
STOCK TRANSFER EXPENSES <1,526.48> <2.55> <5,844.21> <9.02>
PENALTIES/INTEREST <729.00> <1.22> <1,457.00> <2.25>
------------- ---------- --------------- ----------
TOTAL OTHER INCOME & EXPENSE <34,228.48> <57.24> <71,247.21> <109.95>
------------- ---------- --------------- ----------
NET PROFIT OR (LOSS) $ <10,546.11> <17.65> $ <121,103.09> <186.89>
============= ========== =============== ==========
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<TABLE>
<CAPTION>
AMERICAN NORTEL COMMUNICATIONS, INC.
BALANCE SHEET
As of DECEMBER 31, 1995
<S> <C> <C>
A S S E T S
CURRENT ASSETS:
CASH IN BANK - NATIONAL $ 3,399.48
---------------
TOTAL CURRENT ASSETS $ 3,399.48
PROPERTY AND EQUIPMENT:
EQUIPMENT 35,483.19
ACCUMULATED DEPRECIATION <2,520.00>
---------------
TOTAL PROPERTY & EQUIPMENT 32,963.19
---------------
TOTAL ASSETS $ 36,362.67
===============
LIABILITIES AND STOCKHOLDERS EQUITY
CURRENT LIABILITIES:
ACCOUNTS PAYABLE - REGULAR $ 91,093.53
FEDERAL PAYROLL TAXES PAYABLE 6,929.00
STATE WITHHOLDING PAYABLE 145.68
STATE UNEMPLOYMENT PAYABLE 189.00
FEDERAL UNEMPLOYMENT PAYABLE 56.00
---------------
TOTAL CURRENT LIABILITIES 98,413.21
LONG TERM LIABILITIES:
NOTES PAYABLE 675,000.00
ACCRUED INTEREST 249,915.00
NOTE PAYABLE/WILCOM, INC. 20,380.55
---------------
TOTAL LONG TERM LIABILITIES 945,295.55
---------------
TOTAL LIABILITIES 1,043,708.76
STOCKHOLDERS EQUITY:
COMMON STOCK 20,198,157.00
RETAINED EARNINGS <21,084,400.00>
Current Earnings (Loss) <121,103.09>
---------------
TOTAL STOCKHOLDERS EQUITY <1,007,346.09>
---------------
TOTAL LIABILITIES & STOCKHOLDERS EQUITY $ 36,362.67
===============
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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 15, 1996 By /S/ W. P. Williams, Jr.
W. P. WILLIAMS, JR., Director
Chief Executive Officer
