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 June 30, 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
NOT APPLICABLE
(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
PART 1
FINANCIAL INFORMATION
Item 1. Financial Statements
The unaudited financial statements for the
six months ended September 30, 1997 are
attached hereto as EXHIBIT A.
Item 2. Management's Discussion and
Analysis or Plan of Operation
The Company is in the development stage and
has not generated revenues as yet. EXHIBIT A
and the financial notes thereto are
incorporated herein by reference.
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
SECURITIES HOLDERS
No matters have been submitted to a vote of
the stockholders during the six months ended
September 30, 1997.
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
No reports on Form 8-K were filed by the
Company during the fiscal quarter ended June
30, 1996.
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
P.M. MANAGEMENT SYSTEMS, INC.
(A development stage company)
Balance Sheets
June 30, 1996 and 1995
(Unaudited)
1996 1995
ASSETS:
Current Assets
Cash 0 4,669
Inventory 0 74,
000
TOTAL 0
78,669
License Rights 0
1,924,999
Product Development Costs 0
8,806
Equipment 0 28,825
Investment in Ad-A-Cab Canada, Inc.
0
1
TOTAL ASSETS: 0 2041300
LIABILITIES:
Current Liabilities
Accounts Payable
Due to Ad-A-Cab Canada, Inc.
0
2,880
Payable to a director 0
84,682
TOTAL LIABILITIES: 0 139,662
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
1,901,638
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
0
2.041,300
P.M. MANAGEMENT SYSTEMS, INC.
(A development stage company)
STATEMENT OF LOSS AND DEFICIT
(Unaudited)
For the six months ended June 30, 1996 and
1995
1996 1995
GENERAL AND ADMINISTRATIVE EXPENSES:
Office Facilities and Rent
0 10,273
Travel and Promotion
0 11,029
Automobile
0 504
Consulting Fees
0 6,543
LOSS FOR THE PERIOD:
0 28,349
DEFICIT - BEGINNING OF PERIOD:
75,000 70,013
DEFICIT - END OF PERIOD:
75,000 98,362
P.M. MANAGEMENT SYSTEMS, INC.
(A development stage company)
STATEMENTS OF CASH FLOWS
(Unaudited)
For the six months ended June 30, 1996 and
1995
1996 1995
CASH PROVIDED BY (USED FOR):
OPERATING ACTIVITIES
Loss for the Period
0 (28,349)
Increase in Inventory
0 (74,000)
Increase in Accounts Payable
0 42,300
TOTAL: 0
(60,049)
INVESTING ACTIVITY:
Purchase of Equipment
0 (28,825)
FINANCING ACTIVITY:
Increase in loans from a Director
82,522
Increase in Advances from Ad-A-Cab
Canada, Inc 0 2,880
TOTAL: 0
85,402
INCREASE (DECREASE) IN CASH
FOR THE PERIOD 0
(3,472)
CASH - BEGINNING OF PERIOD
0 8,141
CASH - END OF PERIOD
0 4,669
P.M. MANAGEMENT SERVICES, INC.
(a development stage company)
STATEMENTS OF STOCKHOLDERS' EQUITY
(Unaudited)
For the six months ended June 30, 1996
<TABLE>
<CAPTION>
Deficit
Accumulated
During
the
Number of Shares Amount Treasury
Development
Common Preferred Common Preferred Stock
Stage TOTAL
<S> <C> <C> <C> <C> <C> <C>
<C>
Balance
January 1
1996 10000000 1000000 1999150 1000 (150)
(75,000) 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
June 30,
1996 2,020,000 1,000 000 74,150 1,000 (150)
(75000) 0
</TABLE>
NOTES TO FINANCIAL STATEMENTS
For the six month period ending June 30, 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.
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> JUN-30-1996
<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>
