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
September 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.
incorporation or organization
Employer
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 nin months ended September 30, 1996
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 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
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
September 30, 1996 and 1995
(Unaudited)
1996
1995
ASSETS:
Current Assets
Cash 0
1.448
Inventory 0
74, 000
TOTAL
0 75,448
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
2,038,079
LIABILITIES:
Current Liabilities
Accounts Payable
0 37,175
Due to Ad-A-Cab Canada, Inc.
0 49,537
Payable to a director
0 82,777
TOTAL LIABILITIES:
0 169,489
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) (131,410)
Treasury Stock 150
150
TOTAL STOCKHOLDERS EQUITY
0 1,868,590
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
0 2.038,079
P.M. MANAGEMENT SYSTEMS, INC.
(A development stage company)
STATEMENT OF LOSS AND DEFICIT
(Unaudited)
For the nine months ended September 30, 1996
and 1995
1996
1995
GENERAL AND ADMINISTRATIVE EXPENSES:
Office Facilities and Rent
0 20,751
Travel and Promotion
0 17,929
Automobile
0 504
Professional Fees
0 1,610
Consulting Fees
0 20,603
LOSS FOR THE PERIOD:
0 61,397
DEFICIT - BEGINNING OF PERIOD:
75,000 70,013
DEFICIT - END OF PERIOD:
75,000 131,410
P.M. MANAGEMENT SYSTEMS, INC.
(A development stage company)
STATEMENTS OF CASH FLOWS
(Unaudited)
For the nine months ended September 30, 1996
and 1995
1996 1995
CASH PROVIDED BY (USED FOR):
OPERATING ACTIVITIES
Loss for the Period 0
(61,397)
Increase in Inventory 0
(74,000)
Increase in Accounts Payable 0
27,375
TOTAL: 0
(108,022)
INVESTING ACTIVITY:
Purchase of Equipment
0 (28,825)
FINANCING ACTIVITY:
Increase in loans from a Director
80,617
Due to Ad-A-Cab Canada, Inc 0
2,880
TOTAL: 0
130,154
INCREASE (DECREASE) IN CASH
FOR THE PERIOD 0
(6,693)
CASH - BEGINNING OF PERIOD 0
8,141
CASH - END OF PERIOD 0
1,4 48
P.M. MANAGEMENT SERVICES, INC.
(a development stage company)
STATEMENTS OF STOCKHOLDERS' EQUITY
(Unaudited)
For the nine months ended September 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 10,000,000 1,000,000 $1,999,150
$1,000 ($ 150) ($ 75,000) 1,925,000
Cancellation
Of purchase
Of Ad-A-Cab
America, LLC
& Cancellation
of 7,980,000
Common Shares
January 25,
1996 (7,980,000) (1,925,000)
(1,925,000)
Net Loss for
The period 0
September
30, 1996 2,020,000 1,000,000 $74,150
$1,000 ($ 150) ($ 75000) $0
</TABLE>
NOTES TO FINANCIAL STATEMENTS
For the nine month period ending September 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> 9-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-31-1996
<PERIOD-END> SEP-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>
