FORM 10-Q
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
QUARTERLY REPORT UNDER SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the Three Months Ended Commission File Number
June 30, 1996 33-81666
JUNO ACQUISITIONS, INC.
(Exact Name of Registrant as Specified in its Charter)
NEVADA 13-3690905
(State of Other Jurisdiction of I.R.S. Employer
Incorporation or Organization) Identification No.
370 Lexington Avenue, 19th Floor, New York, New York 10017
(Address of Principal Executive Offices) Zip Code
Registrant's Telephone Number, Including Area Code (212) 687-4230
Indicate by check mark whether the registrant (1) 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 (or for shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days. Yes X No
APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDINGS DURING THE PRECEDING FIVE YEARS:
Indicate by check mark whether the issuer has filed all documents and
reports required to be filed by Sections 2, 13 or 15(d) of the Securities
Act of 1934 subsequent to the distribution of securities under a plan
confirmed by a court. Yes No
APPLICABLE ONLY TO CORPORATE ISSUERS:
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, 800,000
(Title of Class) (Shares outstanding at
June 30, 1996)
<PAGE>i
JUNO ACQUISITIONS, INC.
FORM 10-Q
THREE MONTHS ENDED JUNE 30, 1996
INDEX
PAGE
PART I FINANCIAL INFORMATION
ITEM 1 Balance Sheet, June 30, 1996 2
Statement of Income and Expenses,
June 30, 1996 3
Statement of Stockholders' Equity
for the period ended June 30, 1996 4
Statement of Cash Flows, June 30, 1996 5
Notes to Financial Statements 6
Management's Discussion and
Analysis of Results of Operations 7
PART II Other Information - Items 1-6 7
Signatures 8
<PAGE>2
JUNO ACQUISITIONS, INC.
(A development stage company)
BALANCE SHEET
UNAUDITED
ASSETS
June December
30, 1996 31, 1995
Current Assets:
Cash........................................... $ 156 $ 1,885
Cash - Escrow Account.......................... 45,000 45,000
-------- --------
Total Current Assets........................... 45,156 46,885
-------- --------
Other Assets:
Organization Expense-Net of Amortization....... 175 237
Deferred Offering Costs........................ 0 0
-------- --------
Total Other Assets............................. 175 237
-------- --------
TOTAL ASSETS................................... $ 45,331 $ 47,122
======== ========
LIABILITIES AND STOCKHOLDER'S EQUITY
Current Liabilities:
Accrued Expenses.............................. $ 3,950 $ 704
Due to Shareholders........................... 57 57
-------- --------
TOTAL CURRENT LIABILITIES...................... 4,007 761
Long Term Liabilities:
Due to Noteholders............................ 28,500 27,625
-------- -------
TOTAL LIABILITIES.............................. 32,507 28,386
-------- -------
Stockholder's Equity:
Common Stock, par value $.001; authorized
75,000,000 shares, issued and outstanding
800,000 shares June 30, 1996 and
December 31, 1995............................. 800 800
Preferred Stock, par value $.001; authorized
15,000,000 shares, none issued and outstanding. 0 0
Additional Paid-In Capital.................... 28,513 28,513
Deficit Accumulated During Development Stage... (16,489) (10,577)
------- -------
TOTAL STOCKHOLDER'S EQUITY..................... 12,824 18,736
------- -------
TOTAL LIABILITIES AND STOCKHOLDER'S
EQUITY........................................ $ 45,331 $ 47,122
======== ========
<PAGE>3
JUNO ACQUISITIONS, INC.
(A development stage company)
STATEMENT OF INCOME AND EXPENSES
UNAUDITED
FOR THE PERIODS
(Cumulative)
11/16/92
1/1/96 1/1/95 1/1/94 (Inception)
to to to to
6/30/96 6/30/95 6/30/94 6/30/96
INTEREST INCOME.............. $ 0 $ 0 $ 0 $ 0
-------- -------- -------- --------
EXPENSES:
New York State and City
Franchise Tax.............. 0 0 (452) 1,402
Filing and Stock Transfer
Fees....................... 875 95 0 2,964
Amortization............... 62 62 93 475
Bank Charges and Interest
Expense.................... 1,025 1,082 595 5,359
Professional Fees.......... 3,950 0 500 8,508
-------- -------- -------- --------
Total Expenses............. 5,912 1,239 786 18,708
-------- -------- -------- --------
NET LOSS FOR PERIOD.......... $ (5,912) $ (1,239) $ (786) $(18,708)
======== ======== ======== ========
LOSS PER SHARE............... $ (.01) $ (.00) $ (.00)
======== ======== ========
WEIGHTED AVERAGE OF
OUTSTANDING SHARES........ 800,000 792,000 792,000
======== ======== ========
<PAGE>4
JUNO ACQUISITIONS, INC.
(A development stage company)
STATEMENT OF STOCKHOLDERS' EQUITY
UNAUDITED
FOR THE PERIODS INDICATED
Total
Stock Additional Stock-
Common Issued Paid-In Retained Holders
Shares Amount Capital Deficit Equity
Issuance of Common
Shares on November
16, 1992 at Par
Value ($.001 per
share)For Cash 792,000 $ 792 $ 1,208 $ 2,000
Net Loss For Year
Ended December 31, 1993 $(1,326) (1,326)
------------------------------------------------
Balance - December 31,
1993 792,000 792 1,208 (1,326) 674
Net Loss For Period Ended
December 31, 1994 (2,101) (2,101)
------------------------------------------------
Balance - December 31,
1994 792,000 792 1,208 (3,427) (1,427)
Issuance of 8,000
Shares in
July, 1995 for cash 8,000 8 49,992 50,000
Deferred Offering Costs
Charged to Additional
Paid In Capital (22,687) (22,687)
Net Loss For Period Ended
December 31, 1995 (7,150) (7,150)
-------------------------------------------------
Balance - December
31, 1995 800,000 800 28,513 (10,577) 18,736
Net Loss for Period Ended
June 30, 1996 (5,912) (5,912)
-------------------------------------------------
Balance-June 30,
1996 800,000 $ 800 $ 28,513 $(16,489) $ 12,824
=================================================
<PAGE>5
JUNO ACQUISITIONS, INC.
(A development stage company)
STATEMENT OF CASH FLOWS
FOR THE PERIODS
(Cumulative)
11/16/92
1/1/96 1/1/95 1/1/94 (Inception)
to to to to
6/30/96 6/30/95 6/30/94 6/30/96
CASH FLOWS FROM OPERATING
ACTIVITIES:
Net Loss $ (5,912) $ (1,239) $ (786) $(16,489)
Adjustments to Reconcile
Net Loss to net cash used
by operating activities
Non-cash items included in loss:
Amortization 62 62 93 444
CHANGES IN ASSETS AND LIABILITIES:
Escrow Account 0 0 0 (45,000)
Other Assets 0 (7,062) (11,706) (619)
Liabilities 3,246 10,467 2,437 6,632
-------- -------- -------- ---------
Cash Provided (Used) in
Operations (2,604) 2,228 (9,962) (55,032)
CASH FLOWS FROM FINANCING
ACTIVITIES:
Issuance of Debt 875 0 0 30,188
Issuance of Stock -
Net of Costs 0 0 25,000 25,000
------- -------- -------- ---------
NET INCREASE (DECREASE) IN CASH (1,729) 2,228 15,038 156
CASH AT BEGINNING OF PERIOD 1,885 10,380 189 0
------- -------- -------- ---------
CASH AT END OF PERIOD $ 156 $ 12,608 $15,227 $ 156
-------- -------- ------- ---------
<PAGE>6
JUNO ACQUISITIONS, INC.
NOTES TO FINANCIAL STATEMENTS
Unaudited
June 30, 1996
NOTE 1 - BASIS OF PRESENTATION
The accompanying unaudited condensed financial statements have been
prepared in accordance with generally accepted accounting principles for
interim financial information and with the instructions to Form 10-Q and
Rule 10-01 of Regulation S-X. Accordingly, they do not include all the
information and footnotes required by generally accepted accounting
principles for complete financial statements. In the opinion of
Management, all adjustments considered necessary for a fair presentation
have been included. These adjustments were considered usual and normal in
nature. For the period ended June 30, 1996, the Company had no operational
activities other than the preparation for the public offering as presented
in the Balance Sheet. The recovery of assets and the continuation of the
Company as a going concern are dependent upon the Company's ability to
obtain additional financing and upon future profitable operations. For
further information, refer to the financial statements and footnotes
included in the Company's annual report on Form 10-K for the year ended
December 31, 1995.
<PAGE>7
JUNO ACQUISITIONS, INC.
MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS
June 30, 1996
At June 30, 1996, the Company's current assets amounted to $45,156,
while current liabilities amounted to $32,507.
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
- None
Item 5 OTHER INFORMATION - None
Item 6 EXHIBITS AND REPORTS ON FORM 8-K - None
<PAGE>8
SIGNATURES
In accordance with the requirements of the Exchange Act, the
registrant caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
JUNO ACQUISITIONS, INC.
By: GARY TAKATA
Gary Takata
President and Director
Date: August 7, 1996
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
10-Q FOR THE PERIOD ENDED JUNE 30, 1996 FOR JUNO ACQUISITIONS, INC. AND
IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-12-1996
<PERIOD-END> JUN-30-1996
<CASH> 45,156
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
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<CURRENT-ASSETS> 45,156
<PP&E> 175
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<TOTAL-ASSETS> 45,331
<CURRENT-LIABILITIES> 4,007
<BONDS> 28,500
0
0
<COMMON> 800
<OTHER-SE> 12,024
<TOTAL-LIABILITY-AND-EQUITY> 45,331
<SALES> 0
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 5,912
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> (5,912)
<INCOME-TAX> 0
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<NET-INCOME> (5,912)
<EPS-PRIMARY> (.01)
<EPS-DILUTED> (.01)
</TABLE>
