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Previous: GRAYSTONE WORLD WIDE INC, 8-K, 1999-06-02 |
Next: HELSINKI CAPITAL PARTNERS INC, 10QSB, 1999-06-02 |
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-QSB
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 1996
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 for the transition period from __________________
to __________________
Commission File Number 0-23504
HELSINKI CAPITAL PARTNERS, INC.
(Exact Name of Registrant as specified in its Charter)
Delaware 33-0601502
(State or other Jurisdiction of I.R.S. Employer Identi-
Incorporation or Organization fication No.)
1500 Quail Street, Suite 550, Newport Beach, California 92660
(Address of Principal Executive Offices) (Zip Code)
(714) 660-1500
(Registrant's Telephone Number, including Area Code)
Indicate by check mark whether the Registrant (i) has filed all reports
required to be filed by Section 13, or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (of for such shorter period that the
Registrant was required to file such reports) and (ii) has been subject to such
filing requirements for the past 90 days.
Yes X No
Indicate the number of shares outstanding of each of the issuer's
classes of Common Stock, as of the latest practicable date.
Common Stock, $.001 par value 424,600
- ---------------------------------- --------------------
Title of Class Number of Shares outstanding
at September 30, 1994
No exhibits included.
1
<PAGE>
<TABLE>
<CAPTION>
HELSINKI CAPITAL PARTNERS, INC.
(A Company in the Development Stage)
BALANCE SHEETS
ASSETS
March 31, September
30,
1994 1994
---------- -------
<S> <C> <C>
CURRENT ASSETS-Cash $ 229 $ 970
OTHER ASSETS
Organization Costs 221 194
--------- --------
$ 450 $ 1,164
========= ========
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY)
CURRENT LIABILITIES-Accounts payable $ 219 $ 734
STOCKHOLDERS' EQUITY
Preferred Stock - authorized 1,000,000 shares $.001 par value, no shares
issued and outstanding Common stock - authorized 20,000,000 shares $.001 par
value,
issued and outstanding 400,000 and 424,100 shares 400 424
Additional paid in capital 100 1,317
Deficit accumulated during development stage (269) (1,311)
---- ------
TOTAL STOCKHOLDERS' EQUITY (DEFICIENCY) 231 430
---------- ---------
$ 450$ 1,164
</TABLE>
See accompanying Notes to Financial Statements
2
<PAGE>
<TABLE>
<CAPTION>
HELSINKI CAPITAL PARTNERS, INC.
(A Company in the Development Stage)
STATEMENTS OF OPERATIONS
CUMULATIVE
FROM INCEPTION FROM INCEPTION
FOR THE THREE FOR THE THREE (MAY 10, 1992) FOR THE SIX (MAY 4, 1992)
MONTHS ENDED MONTHS ENDED TO MONTHS ENDED TO
SEPTEMBER SEPTEMBER SEPTEMBER SEPTEMBER SEPTEMBER
30, 1993 30, 1994 30, 1993 30, 1994 30, 1994
<S> <C> <C> <C> <C> <C>
REVENUES $ $ $ $ $
COSTS AND EXPENSES 14 382 27 1,042 1,311
NET LOSS ACCUMULATED DURING
THE DEVELOPMENT STAGE $ (14) $ (14) $ (27) $ (1,042) $ (1,311)
WEIGHTED AVERAGE NUMBER
OF SHARES OUTSTANDING 400,000 400,000 400,000 400,723
LOSS PER COMMON SHARE $ nil $ nil $ nil $ nil
</TABLE>
See accompanying Notes to Financial Statements
3
<PAGE>
<TABLE>
<CAPTION>
HELSINKI CAPITAL PARTNERS, INC.
(A Company in the Development Stage)
STATEMENTS OF CASH FLOWS
CUMULATIVE
FROM INCEPTION FROM INCEPTION
FOR THE THREE FOR THE THREE (MAY 10, 1992) FOR THE SIX (MAY 10, 1992)
MONTHS ENDED MONTHS ENDED TO MONTHS ENDED TO
SEPTEMBER SEPTEMBER SEPTEMBER SEPTEMBER SEPTEMBER
30, 1993 30, 1994 30, 1993 30, 1994 30, 1994
Cash Flows From
Operating Activities
<S> <C> <C> <C> <C> <C>
Net Loss (14) (382) (27) (1,042) (1,311)
Adjustment- Amortization 14 14 27 27 77
Changes in Operating Assets-
Accounts payable 318 515 734
CASH USED BY
OPERATING ACTIVITIES (50) (500) (500)
Cash Flows From
Financing Activities
Organizational Costs (271) (271)
Issuance of Common Stock
For Cash 241 241 741
Contribution to Capital 1,000 1,000
CASH PROVIDED (USED) BY
FINANCING ACTIVITIES 241 (271) 1,241 1,470
INCREASE (DECREASE) IN CASH 191 (271) 741 970
CASH BALANCE - BEGINNING 229 779 500 229
CASH BALANCE - ENDING $ 229 $ 970 $ 229 $ 970 $ 970
</TABLE>
See accompanying Notes to Financial Statements
4
<PAGE>
HELSINKI CAPITAL PARTNERS, INC.
(A Company in the Development Stage)
NOTES TO CONDENSED FINANCIAL STATEMENTS
(UNAUDITED)
September 30, 1994
1. Comments
The accompanying financial statements are unaudited, but in the opinion
of the management of the Company, contain all adjustments, consisting of only
normal recurring accruals, necessary to present fairly the financial position at
September 30, 1994, the results of operations for the three and six months ended
September 30, 1994 and 1993, and the cash flows for the three and six months
ended September 30, 1994 and 1993. For further information, refer to the
financial statements and footnotes thereto for the fiscal year ended March 31,
1994 included in the Company's Form 10-KSB.
The results of operations for the three and six months ended September
30, 1994, are not necessarily indicative of the results of operations to be
expected for the full fiscal year ending March 31, 1995.
2. Stockholders' Equity (Deficiency)
Issuance of Common Stock - The Company issued 24,100 shares of common
stock for $.01 per share in September 30, 1993. An additional 500 shares were
issued at $.01 per share in October 1993.
Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND
FINANCIAL
CONDITION
The Company has limited working capital and no activities.
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 MATTER TO A VOTE OF SECURITY HOLDERS - None
Item 5. OTHER INFORMATION - None
Item 6. EXHIBITS AND REPORTS ON FORM 8-K
Exhibits--None
Reports on Form 8-K--None.
5
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: November 10, 1994 By: /s/ Eric Anderson
-------------------------- -------------
Eric Anderson,
Chairman and Chief Financial
Officer (chief financial officer
and accounting officer and duly
authorized officer)
6
<PAGE>
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