United States
Securities and Exchange Commission
Washington, DC 20549
FORM 10Q SB
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15 (d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2000
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15 (d) OF THE
EXCHANGE ACT
Commission file Number 0 - 22678
RF TECHNOLOGY, INC.
(Formerly PM Management Systems, Inc.)
Exact name of small business issuer as specified in its charter
Colorado 84 - 1193941
(State or other jurisdiction of I.R.S. Employer Identification No.
incorporation or organization)
610 9th Street East, Kalispell, MT 59903
(Address of principal executive office)
(406) 752-5533
Issuer's telephone number
PM Management Systems, Inc., 404 Scott Point Drive, Salt
Spring Island, BC V8K 2R2
(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:
7,060,000 shares
Transitional Small Business Disclosure Format (check one)
Yes ___ No X
PART I
FINANCIAL INFORMATION
Item 1. Financial Statements.
The unaudited financial statements for the quarter ended
September 30, 2000 are attached hereto as Exhibit A
Item 2. Management's Discussion and Analysis or Plan of
Operation.
(a) Plan of Operation.
RF Technology, Inc. (formerly PM Management Systems, Inc.)
executed a contract with Mr. R. E. Surran, of Scottsdale Arizona,
to acquire the exclusive world-wide rights to a "plastic
sniffing" device used to locate buried plastic. This device was
developed initially to locate buried plastic natural gas lines.
It is currently being refined and configured to locating buried
anti-personnel land mines. A report on Form 8K dated February
10, 2000 was filed with The Securities and Exchange Commission.
Management plans to continue the development of this product and
to continue to seek other products and companies, in an effort to
increase the Company's asset base and improve shareholder value.
Several financing sources are being investigated, including
funding requiring the Company to file a Registration Statement
with the Securities and Exchange Commission. No commitments have
been received as of this date.
(b) Management's discussion and analysis of Financial Condition
and Results of Operations.
Liquidity and Capital Resources
The Registrant is a development stage company and has not had any
revenues for the past year. A shareholder of the Company
advanced $20,000 in May, 2000 to pay consulting, filing and
accounting fees and working capital and advanced an additional
$17,100 in August and September for general expenses.
PART II
OTHER INFORMATION
Item 1. Legal Proceedings
None
Item 2. Changes in Securities
On January 10, 2000 a General Meeting of Stockholders
endorsed a management proposal to forward split the
Company's common stock on a 3-1 basis. The stockholders
also voted to cancel 1000,000 shares of preferred stock.
The complete Proxy Statement and Solicitation and the
results of the meeting are contained in the Form 8K filed
with The Securities and Exchange Commission February 8,
2000.
Item 3. Defaults Upon Senior Securities
Not Applicable
Item 4. Submission of Matters to a Vote of Securities
Holders
None
Item 6. Exhibits and Reports on Form 8K
None
SIGNATURES
In accordance with the requirements of the Exchange Act, the
registrant caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
RF TECHNOLOGY, INC.
Dated October 24, 2000
/S/ Ronald Lambrecht
Ronald Lambrecht, President and Director
RF TECHNOLOGY, INC.
(Formerly PM Management Systems, Inc.)
FINANCIAL STATEMENTS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000
RF TECHNOLOGY, INC.
(FORMERLY PM MANAGEMENT SYSTEMS, INC.)
(A DEVELOPMENT STAGE COMPANY)
BALANCE SHEETS
AS AT SEPTEMBER 30, 2000 AND 1999
ASSETS
2000 1999
CURRENT ASSETS
CASH 1,061 0
FIXED ASSETS
EQUIPMENT 2,200 0
QTHER ASSETS
RIGHTS, TITLE TO PLASTIC
SNIFFING TECHNOLOGY 20,000 0
TOTAL ASSETS 23,261 0
RF TECHNOLOGY, INC.
(Formerly PM Management Systems, Inc.)
(A development stage company)
BALANCE SHEETS
AS AT SEPTEMBER 30, 2000 AND 1999
LIABILITIES AND STOCKHOLDERS' EQUITY
2000 1999
CURRENT LIABILITIES:
Due to a related party 37,100 0
STOCKHOLDERS' EQUITY:
Common Stock no par value
per share, 100,000,000
Authorized shares, Issued
and outstanding 7,060,000
and 2,020,000 94,150 74,150
Preferred Stock, no par value,
Authorized, Issued and Outstanding
O and 1,000,000 0 1,000
SUBTOTAL: 94,150 75,150
Deficit accumulated during
the development stage (107,839) (75,000)
Treasury Stock
( 150) ( 150)
TOTAL STOCKHOLDERS' EQUITY 13,839 0
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY 23,261 0
RF TECHNOLOGY, INC.
(FORMERLY P.M. MANAGEMENT SYSTEMS, INC.)
(A DEVELOPMENT STAGE COMPANY)
1
STATEMENTS 0F OPERATIONS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
2000 1999
REVENUES: 0 0
OPERATING EXPENSES: ( 29,488) 0
OTHER INCOME:
CANCELLATION OF 1,000,000
PREFERRED SHARES 1,000 0
NET (LOSS) FOR THE PERIOD (28,488) 0
NET (LOSS) PER COMMON SHARE: N/A N/A
WEIGHTED AVERAGE
COMMON SHARES OUTSTANDING 7,060,000 2,020,000
RF TECHNOLOGY, INC.
(FORMERLY PM MANAGEMENT SYSTEMS, INC.)
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF CASH FLOWS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
2000 1999
CASH PROVIDE BY (USED FOR)
OPERATING ACTIVITIES:
(LOSS) for the period $(28,488) $ 0
Net increase in Accounts Payable 32,017 0
3,528 0
NET CASH PROVIDED BY
FINANCING ACTIVITIES:
Issuance of common stock 20,000 0
Cancellation of preferred stock 1,000 0
19,000 0
NET CASH USED FOR
INVESTING ACTIVITIES:
Purchase of equipment ( 2,200) 0
Purchase of technology (20,000) 0
22,200) 0
NET INCREASE IN CASH: 328 0
CASH, beginning of the period: 733 0
CASH, end of the period 1061 0
RF TECHNOLOGY, INC.
NOTES TO SEPTEMBER 30, 2000
UNAUDITED FINANCIAL STATEMENTS
(Unaudited)
NOTE 1 - BASIS OF PRESENTATION
The accompanying financial statements have been prepared in
accordance with US Securities and Exchange Commission
("SEC")requirements for interim financial statements. Therefore,
they do not include all of the information and footnotes required
by generally accepted accounting principles for complete
financial statements. The financial statements should be read in
conjunction with the year ended December 31, 1999 financial
statements of RF Technology, Inc. ("Registrant") included in the
Form 10K SB filed with the SEC by the Registrant.
The results of operations for the interim period shown in this
report are not necessarily indicative of the results to be
expected for the full year. In the opinion of management, the
information contained herein reflects all adjustments necessary
to make the results of operations for the interim periods a fair
statement of such operation. All such adjustments are of a
normal recurring nature.
NOTE 2 - RELATED PARTY TRANSACTIONS
Due to related parties at September 30, 2000
Advances payable to an officer and shareholder
of Registrant represent advances, unsecured,
bearing no interest and due on demand 7,100
Advance payable to a shareholder of Registrant
represent an advance, unsecured, bearing no
interest and due on demand $30,000
Due to related parties $37,100
