SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB
(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 UNDER SECTION 13 OF 15(d) OF THE EXCHANGE ACT OF 1934
From the transition period from ____________ to ___________.
Commission File Number 33-55254-40
LATIN AMERICAN TELECOMMUNICATIONS
VENTURE COMPANY - LATVCO.
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(Exact name of small business issuer as specified in its charter)
Nevada 87-0485311
- -------------------------------- -----------------------------------
(State or other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
440 Louisiana, Suite 475, Houston, TX 77002
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(Address of principal executive offices)
(713) 547-8900
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(Issuer's telephone number)
N/A
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(Former name, former address and former fiscal year,
if changed since last report)
Indicate by check mark whether the registrant (1) filed all reports
required to be filed by Section 13 or 15(d) of the Exchange Act during the past
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
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Class Shares Outstanding Date
------- --------------------- --------
Common, $.001 par value 10,000 April 1, 1999
<PAGE>
LATIN AMERICAN TELECOMMUNICATIONS VENTURE COMPANY - LATVCO.
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INDEX
Page
Number
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PART I - FINANCIAL INFORMATION
Item 1.Financial Statements
Condensed Balance Sheets - March 31, 1999 and
December 31, 1998 ...............................................1
Condensed Statements of Operations - For the three months
ended March 31, 1999 and 1998 and for the period from
inception (July 26, 1990) to March 31, 1999......................2
Condensed Statements of Cash Flows - For the three months ended
March 31, 1999 and 1998 and for the period from inception
(July 26, 1990) to March 31, 1999 ...............................3
Notes to Condensed Financial Statements..........................4
Item 2.Management's Discussion and Analysis of Financial Condition
and Results of Operations..........................................5
PART II - OTHER INFORMATION.................................................5
Item 6. Exhibits and Reports on Form 8-K.................................5
SIGNATURES..................................................................6
<PAGE>
PART I - FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
LATIN AMERICAN TELECOMMUNICATIONS VENTURE COMPANY - LATVCO.
(A Development Stage Company)
Balance Sheets
Assets
----------
<TABLE>
December 31,
March 31, 1999 1998
---------------- -------------
<S> <C> <C>
Current Assets
$ 0 $ 0
Cash
------------ ------------
Total Current Assets 0 0
------------ ------------
Total Assets $ 0 $ 0
============ ============
Liabilities & Stockholders' Equity
Current Liabilities
Accounts Payable $ 0 $ 0
------------ ------------
Total Current Liabilities $ 0 $ 0
------------ ------------
Stockholders' Equity
Authorized shares 99,000,000
$0.001 par value; 10,000 outstanding at 3-31-98 and at 12-31-98 10 $ 10
Additional paid-in Capital 990 990
Deficit accumulated during development stage (1,000) (1,000)
------------ ------------
Total Stockholders' Equity $ 0 $ 0
------------ ------------
Total Liabilities & Stockholders' Equity $ 0 $ 0
------------ ------------
</TABLE>
See Notes to the Financial Statements
1
<PAGE>
LATIN AMERICAN TELECOMMUNICATIONS VENTURE COMPANY - LATVCO.
(A Development Stage Company)
Statement of Operations
For the Three Months Ended From Inception (July
March 31, 26, 1990) Through
March 31,
------------------------------
1999 1998 1999
------------- ------------- -----------------
REVENUES $ 0 $ 0 $ 0
EXPENSES
Administrative Expenses 0 0 100
------------ ----------- ----------------
Total Expenses 0 $ 0 $ 1,000
------------ ----------- ----------------
NET LOSS $ 0 $ 0 $
(1,000)
============ =========== ================
(LOSS) PER SHARE $ 0 $ 0 $(.10)
============ =========== ================
AVERAGE SHARES OUTSTANDING 10,000 10,000 $ 10,000
============ =========== ================
See Notes to the Financial Statements
2
<PAGE>
LATIN AMERICAN TELECOMMUNICATIONS VENTURE COMPANY - LATVCO.
(A Development Stage Company)
Statements of Cash Flows
<TABLE>
For the Three Months Ended From Inception
March 31, (July 26, 1990)
through
----------------------------
1999 1998 March 31, 1999
------------- ------------- --------------------
<S> <C> <C> <C>
CASH FLOWS FROM FINANCING ACTIVITIES
Net Income (Loss)
$ 0 $ 0 $ (1,000)
Adjustments to reconcile net loss
to cash used in operating activities:
Amortization 0 0 0
------------- ----------- --------------------
Net Cash Used By Operating Activities $ 0 $ 0 $ (1,000)
------------- ----------- --------------------
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of common stock $ 0 $ 0 $ 1,000
------------- ----------- --------------------
Net cash provided from financing activities $ 0 $ 0 $ 1,000
------------- ----------- --------------------
Net increase (Decrease) in cash $ 0 $ 0 $ 0
Cash at beginning of year $ 0 $ 0 $ 0
------------- ----------- --------------------
Cash at end of year $ 0 $ 0 $ 0
============= =========== ====================
</TABLE>
See Notes to the Financial Statements
3
<PAGE>
LATIN AMERICAN TELECOMMUNICATIONS VENTURE COMPANY - LATVCO.
(A Development Stage Company)
Notes to the Condensed Financial Statements
March 31, 1999
1. General
The interim financial statements are prepared pursuant to the requirements for
reporting on Form 10-QSB. The December 31, 1998 balance sheet data was derived
from audited financial statements but does not include all disclosures required
by generally accepted accounting principles. The interim financial statements
and notes thereto should be read in conjunction with the financial statements
and notes included in the Company's Form 10-KSB for the year ended December 31,
1998. In the opinion of management, the interim financial statements reflect all
adjustments of a normal recurring nature necessary for a fair statement of the
results for the interim periods presented.
4
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS
Material Changes in Result of Operations
During the three months ended March 31, 1999 and 1998, the Company had no
operations other than the search for a business to acquire or with which to
combine.
The Company reported no revenues or expenses for either of the three month
periods ended March 31, 1999 or 1998 nor did the Company incur any expenses in
either period.
Material Changes in Financial Condition, Liquidity and Capital Resources
At March 31, 1999 the Company had no current assets and no current
liabilities as compared to no current assets and no current liabilities at
December 31, 1998.
Although the Company has no liquidity, it believes that it will be able to
find a suitable Company with which to merge.
Year 2000 Compliance
Because the Company has no computer operations, the year 2000 compliance is
not an issue for the Company.
PART II - OTHER INFORMATION
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
a) Exhibits
27.1 Financial Data Schedule
b) Reports on Form 8-K
None
5
<PAGE>
SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
LATIN AMERICAN TELECOMMUNICATIONS
VENTURE COMPANY - LATVCO.
Date: April 5, 1999 By: /s/ Craig Barton
-------------------------------
Craig Barton, President
and Principal Executive Officer
Date: April 5, 1999 By: /s/ Hank Vanderkam
-------------------------------
Hank Vanderkam, Treasurer
Principal Financial Officer
6
<PAGE>
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 3-mos
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1999
<PERIOD-END> MAR-31-1999
<CASH> 0
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 0
<CURRENT-LIABILITIES> 0
<BONDS> 0
0
0
<COMMON> 10
<OTHER-SE> (10)
<TOTAL-LIABILITY-AND-EQUITY> 0
<SALES> 0
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 0
<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> 0
<EPS-PRIMARY> 0
<EPS-DILUTED> 0
</TABLE>
