-----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, H7kMPW5KzEK44e82XzYTgED4+SBnmuCzTNgQkruRnfXiUzTzvi+X9srI5DCOHZuC pPaD4Dm8juGp7phmGy01Tw== 0000948830-98-000318.txt : 19981113 0000948830-98-000318.hdr.sgml : 19981113 ACCESSION NUMBER: 0000948830-98-000318 CONFORMED SUBMISSION TYPE: 10QSB PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980930 FILED AS OF DATE: 19981112 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ZIRCONIUM CAPITAL CORP CENTRAL INDEX KEY: 0001056884 STANDARD INDUSTRIAL CLASSIFICATION: BLANK CHECKS [6770] STATE OF INCORPORATION: CO FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10QSB SEC ACT: SEC FILE NUMBER: 000-23857 FILM NUMBER: 98744482 BUSINESS ADDRESS: STREET 1: 5770 SOUTH BEECH COURT CITY: GREENWOOD VILLAGE STATE: CO ZIP: 80121 BUSINESS PHONE: 3032217376 10QSB 1 U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-QSB QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 1998 Commission File Number: 0-23857 Zirconium Capital Corp. ---------------------------------------------------------------- (Exact name of small business issuer as specified in its charter) Colorado 84-1457006 - ---------------------------- --------------------------------- (State of other jurisdiction of (IRS Employer Identification No.) incorporation or organization) 5770 South Beech Court Greenwood Village, Colorado 80121 ---------------------------------------------------------- (Address of principal executive offices including zip code) (303) 721-0605 -------------------------- (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 preceding 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 X No___ As of September 30, 1998, the Registrant had 2,000,00 shares of common stock, no par value per share, outstanding. Transitional Small Business Disclosure Format (check one): Yes__ No X INDEX PAGE NUMBER Part I. Financial Information Item I. Financial Statements Balance Sheets as of September 30, 1998 and December 31, 1997 3 Statement of Operations, Three Months Ended September 30, 1998 4 Statement of Operations, Nine Months Ended September 30, 1998 5 Statement of Cash Flows Nine Months Ended September 30, 1998 6 Notes to Financial Statements 7 Item 2. Management's Discussion and Analysis of Financial Conditions and Results of Operations 8 Part II. Other Information 9 -2- ZIRCONIUM CAPITAL CORP. BALANCE SHEETS (Unaudited) ASSETS September 30 December 31 1998 1997 ------------ ----------- Current Assets Cash $ 881 $ - ----------- ---------- Total Current Assets 881 - Organization costs, net of amortization 467 50 Stock subscriptions receivable - 10,000 Deferred offering costs 7,500 - ----------- ---------- Total Assets $ 8,848 $ 10,050 =========== ========== LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 590 $ - Advances payable, related parties 1,500 - ----------- ---------- Total Current Liabilities 2,090 - ----------- ---------- Stockholders' Equity: Preferred Stock, no par value, 5,000,000 shares authorized none issued and outstanding - - Common Stock, no par value, 100,000,000 shares authorized 2,000,000 shares issued and outstanding 10,050 10,050 Additional paid-in capital 2,700 - Accumulated deficit (5,992) - ----------- ---------- Total Stockholders' Equity 6,758 10,050 ----------- ---------- Total Liabilities and Stockholders' Equity $ 8,848 $ 10,050 =========== ========== The accompanying notes are an integral part of the financial statements. 3 ZIRCONIUM CAPITAL CORP. STATEMENT OF OPERATIONS (Unaudited) Three Months Ended September 30, 1998 Revenues $ - ----------- Operating Expenses: Amortization 28 Professional fees 1,190 Rent 300 Other 418 ----------- Total Operating Expenses 1,936 ----------- Net Loss $ (1,936) ----------- Per Share $ nil =========== Weighted Average Number of Shares Outstanding 2,000,000 =========== The accompanying notes are an integral part of the financial statements. 4 ZIRCONIUM CAPITAL CORP. STATEMENT OF OPERATIONS (Unaudited) Nine Months Ended September 30, 1998 Revenues $ - ----------- Operating Expenses: Amortization 83 Professional fees 3,390 Rent 900 Advertising 448 Other 1,171 ----------- Total Operating Expenses 5,992 ----------- Net Loss $ (5,992) ----------- Per Share $ nil =========== Weighted Average Number of Shares Outstanding 2,000,000 =========== The accompanying notes are an integral part of the financial statements. 5 ZIRCONIUM CAPITAL CORP. STATEMENT OF CASH FLOWS (Unaudited) Nine Months Ended September 30, 1998 Cash Flows from Operating Activities: Net (loss) $ (5,992) Amortization 83 Increase in accounts payable 590 ---------- Net Cash (Used in) Operating Activities (5,319) ---------- Cash Flows from Investing Activities - ---------- Cash Flows from Financing Activities: Decrease in stock subscriptions receivable 10,000 (Increase) in organization costs (500) (Increase) in deferred offering costs (7,500) Increase in advances, related parties 1,500 Increase in additional paid-in capital 2,700 ---------- Net Cash Provided by Financing Activities 6,200 ---------- Increase in Cash 881 Cash, Beginning of Period - ---------- Cash, End of Period $ 881 ========== Interest Paid $ - ========== Income Taxes Paid $ - ========== The accompanying notes are an integral part of the financial statements. 6 ZIRCONIUM CAPITAL CORP. NOTES TO FINANCIAL STATEMENTS September 30, 1998 (Unaudited) (1) Condensed Financial Statements The financial statements included herein have been prepared by Zirconium Capital Corp. without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted as allowed by such rules and regulations, and Zirconium Capital Corp. believes that the disclosures are adequate to make the information presented not misleading. It is suggested that these financial statements be read in conjunction with the December 31, 1997 audited financial statements and the accompanying notes thereto. While management believes the procedures followed in preparing these financial statements are reasonable, the accuracy of the amounts are in some respect's dependent upon the facts that will exist, and procedures that will be accomplished by Zirconium Capital Corp. later in the year. The management of Zirconium Capital Corp. believes that the accompanying unaudited condensed financial statements contain all adjustments (including normal recurring adjustments) necessary to present fairly the operations and cash flows for the periods presented. 7 ITEM 2 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Zirconium Capital Corp. (the "Company") was organized as a Colorado corporation on December 5, 1996, in order to evaluate, structure and complete a merger with, or acquisition of, prospects consisting of private companies, partnerships or sole proprietorships. The Company may seek to acquire a controlling interest in such entities in contemplation of later completing an acquisition. The Company is not limited to any operation or geographic area in seeking out opportunities. Management has not identified any particular business or industry within which the Company will seek an acquisition or merger. The Company has not conducted, nor have others made available to it, market research supporting the viability of the Company's proposed operations. The Company generated no revenues during the quarter ended September 30, 1998, and management does not anticipate any revenues until following the conclusion of a merger or acquisition, if any, as contemplated by the Company's business plan. The Company's capital is limited. The Company anticipates operational costs will be limited until such time as significant evaluation work is undertaken regarding prospective mergers or acquisitions. At September 30, 1998, the Company had no material commitments for capital expenditures. YEAR 2000 COMPLIANCE The Company is aware of the issues associated with the programming code in existing computer systems as the year 2000 approaches. The Company has assessed these issues as they relate to the Company, and since the Company currently has no operating business and does not use any computers, and since it has no customers or supplier, it does not believe that there are any material year 2000 issues to disclose in this Report. 8 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 Security Holders None. Item 5. Other Information None. Item 6. Exhibits and Reports on Form 8-K None. -9- 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. ZIRCONIUM CAPITAL CORP. Date: September 10, 1998 By:/s/ Joseph J. Peirce Joseph J. Peirce, President -10- EXHIBIT INDEX EXHIBIT METHOD OF FILING - ------- ----------------------------- 27. FINANCIAL DATA SCHEDULE Filed herewith electronically EX-27 2
5 This schedule contains summary financial information extracted from the balance sheet and statements of operations found on pages 3 and 4 of the Company's Form 10-QSB for the year to date, and is qualified in its entirety by reference to such financial statements. 9-MOS DEC-31-1997 SEP-30-1998 881 0 0 0 0 881 0 0 8,848 2,090 0 0 0 10,050 (3,292) 8,848 0 0 0 0 5,992 0 0 0 0 0 0 0 0 (5,992) 0 0
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