United States
Securities and Exchange Commission
Washington, DC 20549
FORM 10-QSB
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15
(d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
For the quarterly period ended
March 31, 1996
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15
(d) OF THE
EXCHANGE ACT
Commission file Number 0 - 22678
PM MANAGEMENT SYSTEMS, INC.
Exact name of small business issuer
As specified in its charter
Nevada 84 - 1193941
(State or other jurisdiction of I.R.S. Employer
incorporation or organization Identification No
404 Scott Point Drive, Salt Spring
Island, BC V8K 2R2 Canada
(Address of principal executive office)
(250) 537 - 5732
Issuer's telephone number
1001 South Monaco Parkway, Denver, CO 80224
(Former name, former address and former
fiscal year, if changed since last report)
APPLICABLE ONLY TO ISSUERS INVOLVED IN
BANKRUPTCY
PROCEEDINGS DURING THE PAST 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 a court.
Yes ____ No ____
APPLICABLE ONLY TO CORPORATE ISSUERS
State the number of shares outstanding of
each of the Issuer's
common equity as of the last practicable
date: 1,020,000 shares
Transitional Small Business Disclosure Format
(check one) Yes ___ No X
P.M. MANAGEMENT SYSTEMS, INC.
PART II
OTHER INFORMATION
Item 1. LEGAL PROCEEDINGS
NONE
Item 2. CHANGES IN SECURITIES
On January 25, 1996, the Company
Canceled 7,980,000 shares of Common
Stock issued previously in exchange for
all of the Units of Ownership of Ad-A-
Cab America, LLC, a Wyoming Limited
Liability Company. Reports filed on
Form 8-K are included as Exhibits A and
B to this document
Item 3. DEFAULTS UPON SENIOR SECURITIES
NONE
Item 4. SUBMISSION OF MATTERS TO A VOTE OF
SECURITIES HOLDERS
No matters have been submitted to a vote
of the stockholders during the nine
months ended September 30, 1996.
Item 5. OTHER INFORMATION
NONE
Item 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) Exhibits
Exhibit No. 27 Financial Data
Schedule
(b) Reports on Form 8-K
Two reports on Form 8-K were filed by
the Company during the fiscal quarter
ended March 31, 1996. They are
included as Exhibits A and B of this
document.
SIGNATURES
In accordance with the requirements of
the Exchange Act, the registrant caused this
report to be signed by its behalf by the
undersigned, thereto duly authorized.
P.M. MANAGEMENT
SYSTEMS, INC.
Dated: December 15, 1999 By:
/S/Anthony V. Feimann
Anthony V.
Feimann, Secretary,
Chief Financial
Officer
Principal
Accounting Officer
(A development stage company)
Balance Sheets
March 31, 1996 and 1995
(Unaudited)
1996 1995
ASSETS:
Current Assets
Cash 0 496
License Rights 0 1,924,999
Product Development Costs 0 8,806
Equipment 0 22,992
Investment in Ad-A-Cab Canada, Inc.
0 1
TOTAL ASSETS: 0 1,957,294
LIABILITIES:
Current Liabilities
Due to Ad-A-Cab Canada, Inc.
0 2,880
Payable to a director
0 37,935
TOTAL LIABILITIES:
0 40,815
STOCKHOLDERS EQUITY:
Common Stock, No par Value
Authorized, 10,000,000 shares
Issued and outstanding, 2,020,000 shares
74,150 1,999,150
Preferred Stock, no par value, non-
voting
Authorized, issued and outstanding
1,000 1,000
TOTAL:
75,150 2,000,150
Deficit accumulated during the
Development stage
(75,000) (83,521)
Treasury Stock 150 150
TOTAL STOCKHOLDERS EQUITY
0 1,916,479
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY
0 1,957,294
P.M. MANAGEMENT SYSTEMS, INC.
(A development stage company)
STATEMENT OF LOSS AND DEFICIT
(Unaudited)
For the three months ended March 31, 1996 and
1995
1996 1995
GENERAL AND ADMINISTRATIVE EXPENSES:
Office Facilities and Rent
0 5,869
Travel and Promotion
0 4,975
Automobile
0 504
Consulting Fees
0 2,160
LOSS FOR THE PERIOD:
0 13,508
DEFICIT - BEGINNING OF PERIOD:
75,000 70,013
DEFICIT END OF PERIOD:
75,000 83,521
P.M. MANAGEMENT SYSTEMS, INC.
(A development stage company)
STATEMENTS OF CASH FLOWS
(Unaudited)
For the three months ended March 31, 1996 and
1995
1996 1995
CASH PROVIDED BY (USED FOR)0:
PENALTY ACTIVITIES
Loss for the Period
0 (13,508)
Decrease in Accounts Payable
0 (9,800)
TOTAL: 0 (23,308)
INVESTING ACTIVITY:
Purchase of Equipment
0 (22,992)
FINANCING ACTIVITY:
Increase in loans from a Director
35,775
Increase in Advances from Ad-A-Cab
Canada, Inc 0 2,880
TOTAL: 0 38,655
INCREASE (DECREASE) IN CASH
FOR THE PERIOD 0 (7,645)
CASH - BEGINNING OF PERIOD
0 8,141
CASH END OF PERIOD
0 496
P.M. MANAGEMENT SERVICES, INC.
(a development stage company)
STATEMENTS OF STOCKHOLDERS EQUITY
(Unaudited)
For the three months ended March 31, 1996
<TABLE>
<CAPTION>
Number of shares Amount
<S> <C> <C> <C> <C> <C> <C> <C>
Deficit
Accumulated
During the
Treasury Development
Common Preferred Common Preferred Stock Stage TOTAL
Balance
January 1
1996 10000000 1000000 1999150 1000 ($ 150) ( 75000)1925000
Cancellation
Of purchase
Of Ad-A-Cab
America, LLC
& Cancellation
of 7,980,000
Common Shares
January 25,
1996 (7980000) (1925000) (1925000)
Net Loss for
The period 0
March 31,
1996 2020000 1000000 74,150 1,000 ( 150) (75000) $0
</TABLE>
NOTES TO FINANCIAL STATEMENTS
For the three month period ending March 31, 1996 and
1995
NOTE 1 - ORGANIZATION OF P.M. MANAGEMENT SYSTEMS, INC.:
P.M. Management Systems, Inc. is a Colorado corporation
and is currently in the development stage. On May 6,
1994, the Company changed its name from Process Based
Management, Inc. to P.M. Management Systems, Inc.
On September 5, 1994, the Company acquired all the
issued and outstanding ownership interests in Ad-A-Cab
America, LLC, a Wyoming Limited Liability Company. To
effect the reorganization pursuant to Section 368(a)
(1) (B) of the Internal Revenue Code, the Company
issued 7,980,000 shares of its previously authorized,
but unissued no par value common stock
In January, 1996, the Company terminated its ownership
interests in Ad-A-Cab America LLC. The above-mentioned
7,980,000 that were issued September 5, 1994 were
returned and cancelled by the Company.
NOTE 2 - GOING CONCERN:
Since its formation, the Company has incurred losses of
$75,000. The ability of the Company to achieve its
development plans and recover the carrying value of
license rights is dependent on the support of its unit
holders and creditors to provide for the necessary
funding for ongoing operations. These financial
statements have been prepared on a going concern basis
and do not reflect adjustments, which would be
necessary, if the Company were unable to continue as a
going concern.
P.M. MANAGEMENT SERVICES, INC.
EXHIBIT A
US Securities and Exchange Commission
Washington, DC 20549
CONFORMED COPY
Form 8-K
Current Report Pursuant to Section 13 or
15(d) of
The Securities Exchange Act of 1934
Date of earliest event reported: December 18,
1995
PM Management Systems, Inc.
(Formerly named Process Based Management,
Inc.)
Colorado 0-22678
84-1193941
(State of Incorporation)
(Commission (EIN)
File Number)
404 Scott Point Drive, Salt Spring Island, BC
Canada V8K 2R2
(Address of Principal Executive Offices)
Registrants Telephone Number, Including Area
Code: (250) 537-5732
Form 8-K: Dated January 17, 1999.
PM Management Systems, Inc.
Commission File # 0-22678
Page 2
Item 1 - Changes in Control of Management
Not Applicable
Item 2 - Acquisition or Disposition of Assets
On December 18, 1995, the registrant
wrote off its investment in its subsidiary,
Ad-A-Cab America, LLC. The registrants
directors concluded that the concept was not
viable in North America at that time, in
spite of some success in Australia.
Item 3 - Bankruptcy or Receivership
Not Applicable
Item 4 - Changes in the Registrants
Certifying Public Accountant
Not Applicable
Item 5 - Other Events
Not Applicable
Item 6 - Resignations of Registrants
Directors
On December 18, 1995, the registrants
Board of Directors accepted the resignations
of James B. Raines and Russell Roten as
directors. These resignations were the
result of the boards decision to not
continue to pursue the business of on Cab
advertising and to write off its investment
in its subsidiary, Ad-A-Cab America, LLC.
Item 7 - Financial Statements and Exhibits
Exhibit A - Copy of minutes of
Registrants directors meeting, accepting
directors resignations.
Exhibit B - Copy of minutes of
Registrants directors meeting, writing off
registrants investment in Ad-A-Cab America,
LLC.
Item 8 - Change in Fiscal Year
Not Applicable
Pursuant to the requirements of the
Securities and Exchange Act of 1934, the
Registrant has caused this report ;to be
signed on its behalf by the undersigned,
hereunto duly authorized.
Dated: January 17, 1999
PM
Management
Systems,
Inc
/S/
Anthony V. Feimann
Anthony V.
Feimann, Secretary
EXHIBIT B
US Securities and Exchange Commission
Washington, DC 20549
CONFORMED COPY
Form 8-K
Current Report Pursuant to Section 13 or
15(d) of
The Securities Exchange Act of 1934
Date of earliest event reported: January 22,
1996
PM Management Systems, Inc.
(Formerly named Process Based Management,
Inc.)
Colorado 0-22678
84-1193941
(State of Incorporation)
(Commission (EIN)
File Number)
404 Scott Point Drive, Salt Spring Island, BC
Canada V8K 2R2
(Address of Principal Executive Offices)
Registrants Telephone Number, Including Area
Code: (250) 537-5732
Form 8-K: Dated January 17, 1999.
PM Management Systems, Inc.
Commission File # 0-22678
Page 2
Item 1 - Changes in Control of Management
Not Applicable
Item 2 - Acquisition or Disposition of Assets
On January 22, 1996, the registrant
exchanged all 2000 Units of participation it
had received in acquiring Ad-A-Cab America,
LLC, a Wyoming Limited Liability Company, for
the 7,980,000 shares of no par value common
stock it had issued as part of the
acquisition. The registrant also resolved to
cancel the aforementioned shares uipon
receipt. On December 18, 1995, the
registrant wrote off its investment in Ad-A-
Cab America, LLC.
Item 3 - Bankruptcy or Receivership
Not Applicable
Item 4 - Changes in the Registrants
Certifying Public Accountant
Not Applicable
Item 5 - Other Events
Not Applicable
Item 6 - Resignations of Registrants
Directors
Not Applicable
Item 7 - Financial Statements and Exhibits
Exhibit A - Copy of minutes of
Registrants January 22nd directors meeting,
agreeing to exchange 2000 Units of Ad-A-Cab
America for 7,980,000 shares of the
registrants common shares and to cancel such
shares.
Item 8 - Change in Fiscal Year
Not Applicable
Pursuant to the requirements of the
Securities and Exchange Act of 1934, the
Registrant has caused this report ;to be
signed on its behalf by the undersigned,
hereunto duly authorized.
Dated: February 7, 1999 PM
Management
Systems, Inc
/S/
Anthony V. Feimann
Anthony V.
Feimann,
Minutes of Special Meeting of Directors
The Board Of Directors of PM Management
Systems, Inc. held a special meeting at #601
- - - 1450 Pennyfarthing Drive, Vancouver, BC, on
January 22, 1996, at 7:30 PM . The following
persons consisting of a quorum were present:
Edward D. Duncan, Director and
President
Anthony V. Feimann, Director and
Secretary
Timothy E. Sewell, Director and
Vice-president (Via Telephone)
Mr. Duncan served as chairperson of the
meeting and Mr Feimann served as Secretary of
the meeting.
After reading a waiver of notice of the
meetings notice, which had been signed by
every director present, the Secretary was
directed to attach a copy of the waiver with
the minutes of the meeting.
Having announced that a quorum of the
Board of Directors - as required by the By-
laws of the corporation - necessary for the
holding of a meeting of directors - was
present and that the meeting had been duly
convened, the chairperson further announced
that the meeting could proceed with its
business.
Upon duly made, seconded and fully discussed
motions, the following resolutions were
adopted.
RESOLVED: That, in consideration
for the return of 3,990,000 common shares by
Maxfield Investments, Limited; 2,793,000
common shares by Ad-A-Cab International,
Limited and 1,197,000 common shares by
Russell Roten (for an aggregated total of
7,980,000 shares) that the Company would
return 2000 Units of Participation in Ad-A-
Cab America, LLC representing 100% ownership
and acquired in the reorganization pursuant
to Section 368(a)(1)(B) of the Internal
Revenue Code and dated September, 1994
.
There being no further business before
the meeting, the motion seconded and carried,
the meeting was adjourned
/S/ Anthony V. Feimann
Anthony V. Feimann, Secretary
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> MAR-31-1996
<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
1000
<COMMON> 74150
<OTHER-SE> 0
<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-BASIC> 0
<EPS-DILUTED> 0
</TABLE>
