-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, RhV3eSKe05PTTZKh0lvfSPHT4wxZXmH/gCRh51Y08iK5OtKzWe26WoeNJpC2xc8z /NvNqitdtJ7FBq4CdzcpHw== 0000788738-01-500091.txt : 20010516 0000788738-01-500091.hdr.sgml : 20010516 ACCESSION NUMBER: 0000788738-01-500091 CONFORMED SUBMISSION TYPE: 10QSB PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20010331 FILED AS OF DATE: 20010515 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CYBEREXCELLENCE INC CENTRAL INDEX KEY: 0001016082 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 880356052 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10QSB SEC ACT: SEC FILE NUMBER: 000-29605 FILM NUMBER: 1634669 BUSINESS ADDRESS: STREET 1: 268 WEST 400 SOUTH STREET 2: STE 300 CITY: SALT LAKE CITY STATE: UT ZIP: 84101 BUSINESS PHONE: 8015758073 MAIL ADDRESS: STREET 1: 268 WEST 400 SOUTH STREET 2: STE 300 CITY: SALT LAKE CITY STATE: UT ZIP: 84101 10QSB 1 cyberexcellenceq.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-QSB (Mark One) [X] Quarterly report under Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended March 31, 2001. [ ] Transition report under Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from to . Commission file number: 0-29605 CYBEREXCELLENCE, INC. (Exact name of small business issuer as specified in its charter) Nevada 88-0356052 ------ ---------- (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 268 West 400 South, Suite 300, Salt Lake City, Utah 84101 --------------------------------------------------------- (Address of principal executive office) (Zip Code) (801) 575-8073 (Issuer's telephone number) Check whether the issuer: (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such 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 XX No The number of outstanding shares of the issuer's common stock, $0.001 par value (the only class of voting stock), as of May 11, 2001 was 2,042,000. TABLE OF CONTENTS PART I ITEM 1. FINANCIAL STATEMENTS..................................................3 Unaudited Balance Sheet as of March 31, 2000...................................4 Unaudited Statement of Operations for the three months ended March 31, 2001 and 2000 and February 15, 1996 (Date of Inception) to March 31, 2001...............5 Unaudited Statement of Cash Flows for the three months ended March 31, 2001 and 2000 and February 15, 1996 (Date of Inception) to March 31, 2001...............6 Notes to Condensed Financial Statements........................................7 ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.............8 PART II ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K......................................8 SIGNATURES.....................................................................9 INDEX TO EXHIBITS.............................................................10 [THIS SPACE HAS BEEN INTENTIONALLY LEFT BLANK] 2 PART I ITEM 1. FINANCIAL STATEMENTS As used herein, the term "Company" refers to Cyberexcellence Inc., a Nevada corporation, and its subsidiaries and predecessors unless otherwise indicated. Unaudited, condensed interim financial statements including a balance sheet for the Company as of the quarter ended March 31, 2001 and statements of operations, and statements of cash flows for the interim period up to the date of such balance sheet and the comparable period of the preceding year are attached hereto as Pages 4 through 8 and are incorporated herein by this reference. [THIS SPACE HAS BEEN LEFT BLANK INTENTIONALLY] 3 CYBEREXCELLENCE, INC. (A Development Stage Company) Balance Sheet As Of March 31, 2001
(Unaudited) March 31, 2001 ---------- ASSETS CURRENT ASSETS: Cash $ 61 ---------- TOTAL CURRENT ASSETS 61 TOTAL ASSETS $ 61 ========== LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts Payable $ 400 Accounts Payable - Related Party 2,397 ---------- TOTAL CURRENT LIABILITIES 2,797 STOCKHOLDERS' EQUITY: Preferred stock, $.001 par value; authorized 5,000,000 shares; no shares issued - Common stock, $.001 par value; authorized 20,000,000 shares; 2,042,000 shares issued and outstanding on March 31, 2001 2,042 Additional paid-in capital 324 Accumulated deficit during development stage (5,102) ---------- TOTAL STOCKHOLDERS' EQUITY (2,736) ---------- TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 61 ==========
The accompanying notes are an integral part of these financial statements 4 CYBEREXCELLENCE, INC. (A Development Stage Company) Unaudited Statements of Operations For the Three Months Ended March 31, 2001 and 2000 and February 15, 1996 (Date of Inception) to March 31, 2001
March 31, March 31, Inception to 2001 2000 March 31, 2001 --------- -------- ------------ --------- -------- ------------ Revenue: None $ - $ - $ - --------- -------- ------------ Expenses: General and administrative costs 165 959 5,102 --------- -------- ------------ Operating Profit (Loss) (165) (959) (5,102) --------- -------- ------------ Provision for income taxes - - - Net loss $ (165) (959) (5,102) ========= ======== ============ Net loss per common share - basic $ 0.00 $ 0.00 --------- -------- Weighted average number of shares outstanding - basic 2,042,000 1,042,822 ========= =========
The accompanying notes are an integral part of these financial statements 5 CYBEREXCELLENCE, INC. (A Developmental Stage Company) Unaudited Statements of Cash Flows For the Three Months Ended March 31, 2001 and 2000 and February 15, 1996 (Date of Inception) to March 31, 2001
Inception to March 31, March 31, March 31, 2001 2000 2001 -------- -------- --------- CASH FLOWS FROM OPERATING ACTIVITIES: Net (loss) $ (165) $ (959) $ (5,102) -------- -------- --------- Adjustments to reconcile net (loss) to net cash used by operating activities: Stock issued for services - - 1,006 Increase in accounts payable 200 1,010 2,797 -------- -------- --------- Net cash provided (used) by operating activities 35 51 (1,299) -------- -------- --------- CASH FLOWS FROM INVESTING ACTIVITIES -------- -------- --------- CASH FLOWS FROM FINANCING ACTIVITIES: Capital contributions by incorporators - - 1,000 Stock subscriptions collected - 360 360 -------- -------- --------- Net cash provided by financing activities - 360 1,360 Net increase in cash 35 411 61 -------- -------- --------- Cash, beginning 26 - - -------- -------- --------- Cash, ending $ 61 $ 411 $ 61 -------- -------- --------- SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: Issuance of common stock for services and expenses $ - $ - $ 1,006 -------- -------- ---------
The accompanying notes are an integral part of these financial statements 6 CYBEREXCELLENCE, INC NOTES TO CONSOLIDATED UNAUDITED FINANCIAL STATEMENTS March 31, 2001 1. Basis of Presentation The accompanying consolidated unaudited condensed financial statements have been prepared by management in accordance with the instructions in Form 10-QSB and, therefore, do not include all information and footnotes required by generally accepted accounting principles and should, therefore, be read in conjunction with the Company's Form 10-KSB for the year ended December 31, 2000, filed with the Securities and Exchange Commission. These statements do include all normal recurring adjustments which the Company believes necessary for a fair presentation of the statements. The interim operations results are not necessarily indicative of the results for the full year ended December 31, 2001. 2. Additional footnotes included by reference Except as indicated in Notes above, there have been no other material changes in the information disclosed in the notes to the financial statements included in the Company's Form 10-KSB for the year ended December 31, 2000, filed with the Securities and Exchange Commission. Therefore, those footnotes are included herein by reference. 7 ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION Plan of Operations The Company's plan of operation for the coming year is to identify and acquire a favorable business opportunity. The Company does not plan to limit its options to any particular industry, but will evaluate each opportunity on its merits. The Company has reviewed and evaluated a number of business ventures for possible acquisition or participation by the Company. The Company has not entered into any agreement, nor does it have any commitment or understanding to enter into or become engaged in a transaction as of the date of this filing. The Company continues to investigate, review, and evaluate business opportunities as they become available and will seek to acquire or become engaged in business opportunities at such time as specific opportunities warrant. The Company anticipates that its owners, affiliates, and consultants will provide it with sufficient capital to continue operations until the end of the second quarter of 2001, but there can be no assurance that this expectation will be fully realized. The Company has no plans for the purchase or sale of any plant or equipment. The Company is a development stage company and currently has no employees. The Company has no current plans to make any changes in the number of employees and does not anticipate doing so until it acquires a business or an interest in an operation company. The Company does not expect to generate any meaningful revenue or incur operating expenses unless and until it acquires an interest in an operating company. PART II ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K (a) Exhibits Exhibits required to be attached by Item 601 of Regulation S-B are listed in the Index to Exhibits on page 10 of this Form 10-QSB, and are incorporated herein by this reference. (b) Reports on Form 8-K. No reports on Form 8-K were filed during the period covered by this Form 10-QSB. 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, hereunto duly authorized, this 11th day of May, 2001. CYBEREXCELLENCE, INC. /S/ Richard Surber May 11, 2001 - ---------------------- ------------------- Richard Surber Date President and Director 9 INDEX TO EXHIBITS EXHIBIT PAGE NO. NO. DESCRIPTION 3(i) * Articles of Incorporation of the Company ( incorporated herein by reference from Exhibit No. 3(i) of the Company's Form 10-SB as filed with the Securities and Exchange Commission on February 18, 2000). 3(ii) * Bylaws of the Company, as amended (incorporated herein by reference from Exhibit 3(ii) of the Company's Form 10-SB as filed with the Securities and Exchange Commission on February 18, 2000). 10 -----END PRIVACY-ENHANCED MESSAGE-----