-----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, AequYHcSHGwzKbTtz5bwJyTvwhp1NCVjLCmTFPwkH22+n/fEeCIY/aPfzdeMheCS 9sCCvHLhzZSCewsHiWo1WQ== 0001028596-99-000140.txt : 19991105 0001028596-99-000140.hdr.sgml : 19991105 ACCESSION NUMBER: 0001028596-99-000140 CONFORMED SUBMISSION TYPE: 10QSB PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990930 FILED AS OF DATE: 19991104 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SICLONE INDUSTRIES INC CENTRAL INDEX KEY: 0001083446 STANDARD INDUSTRIAL CLASSIFICATION: BLANK CHECKS [6770] IRS NUMBER: 87042699 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10QSB SEC ACT: SEC FILE NUMBER: 000-25809 FILM NUMBER: 99740600 BUSINESS ADDRESS: STREET 1: 6269 JAMESTOWN COURT, CITY: SALT LAKE CITY STATE: UT ZIP: 84121 BUSINESS PHONE: 8015666627 MAIL ADDRESS: STREET 1: 6269 JAMESTOWN COURT CITY: SALT LAKE CITY STATE: UT ZIP: 84121 10QSB 1 United States Securities and Exchange Commission Washington, DC 20549 FORM 10-QSB Quarterly Report Under Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarter Ended Commission File Number - --------------------- ---------------------- September 30, 1999 0-25908 SICLONE INDUSTRIES, INC. ------------------------- (Exact name of registrant as specified in its charter) DELAWARE --------- (State of other jurisdiction of incorporation or organization) 87-042699 ----------- (I.R.S. Employer Identification No.) 6269 Jamestown Court, Salt Lake City, Utah, 84121 -------------------------------------------------- (Address of principal executive offices) 801-566-6627 ----------- (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: None ------ 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 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. X Yes No ------ ------- State the number of shares outstanding of each of the registrants classes of common equity, as of the latest practicable date. Common stock, par value $.001, 23,810,000 shares outstanding as of October 21, 1999 Transitional small business disclosure format (Check one): Yes X No ----- ----- PART I - FINANCIAL INFORMATION ------------------------------ ITEM 1. FINANCIAL STATEMENTS - ----------------------------- See pages F-1 to F-4 attached. ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL STATEMENTS - --------------------------------------------------------------------- This Form 10-QSB contains certain forward-looking statements. For this purpose any statements contained in this Form 10-QSB that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, words such as "may", "will," "expect," "believe," "anticipate," "estimate" or "continue" or comparable terminology are intended to identify forward-looking statements. These statements by their nature involve substantial risks and uncertainties, and actual results may differ materially depending on a variety of factors, many of which are not within the Company's control. These factors include but are not limited to economic conditions generally and in the industries in which the Company may participate; competition within the Company's chosen industry, including competition from much larger competitors; technological advances and failure by the Company to successfully develop business relationships. General - ------- Since its inception in 1988, the Company has not had active business operations. The Company intends to seek, investigate and if warranted, acquire an interest in a business opportunity. The Company does not propose to restrict its search for a business opportunity to any particular industry or geographical area and may, therefore, engage in essentially any business in any industry. The Company has unrestricted discretion in seeking and participating in a business opportunity, subject to the availability of such opportunities, economic conditions and other factors. As of the date of this report, the Company has not yet entertained the acquisition of any business opportunity but is actively seeking such opportunities. Year 2000 Compliance - -------------------- This concern, known as "The Year 2000" problem or "The Millennium Bug" is expected to effect a large number of computer systems and programs after the year 1999. The concern is that any computer function that requires a date calculation may produce errors or system failures. As a result, computer systems and/or software used by many companies will need to be upgraded to comply with "Year 2000" requirements. The Company is presently evaluating the impact of the Year 2000 issue as it affects its business operations and interfaces . To date, the Company is unaware of any situation of noncompliance that would materially adversely effect its operations or financial condition. There can be no assurance, however, that instances of noncompliance which could have a material adverse effect on the Company's operations or financial condition have been identified. Additional, there can be no assurance that the systems of other companies with which the Company transacts business will be corrected on a timely basis, or that failure by such third party entities to correct a Year 2000 problem, or a correction which is incompatible with the Company's information systems, would not have a material adverse effect on the Company's operations or financial condition. 2 PLAN OF OPERATIONS - ------------------ The Company has little cash and has experienced losses from inception. As of September 30, 1999, the Company had $3,806 cash on hand. As of that date, the Company had no outstanding liabilities. The Company has no material commitments for capital expenditures for the next twelve months. As of the date of this report, the Company has yet to generate positive cash flow. Since inception, the Company has primarily financed its operations through the sale of common stock. The Company believes that its current cash needs can be met with the cash on hand for at least the next twelve months. However, should the Company obtain a business opportunity, it may be necessary to raise additional capital. This may be accomplished by selling common stock of the Company. Management of the Company intends to actively seek business opportunities for the Company during the next twelve months. 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 3 Item 5. Other Information - -------------------------- None Item 6. Exhibits and Reports on Form 8-K - ----------------------------------------- (A) Reports on Form 8-K No reports on Form 8-K were filed or required to be filed during the quarter ended September 30, 1999. (B) Exhibits. The following exhibits are included as part of this report:
Exhibit SEC Exhibit Title of Document Location Number Ref. Number - -------- ----------- -------------------------- --------- 27 27 Financial Data Schedule Attached
4 SICLONE INDUSTRIES, INC. (A Development Stage Company) BALANCE SHEETS ASSETS
September December 30, 1999 30, 1998 ------------ ------------ (Unaudited) CURRENT ASSETS: Cash in bank $ 3,806 $ 4,241 ------------ ------------ Total Current Assets 3,806 4,241 ------------ ------------ TOTAL ASSETS $ 3,806 $ 4,241 ============ ============ LIABILITIES & STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ - $ - Stockholder advance 4,500 - ------------ ------------ Total Current Liabilities 4,500 - ------------ ------------ STOCKHOLDERS' EQUITY Preferred stock;$.001 par value, 5,000,000 shares authorized, no shares issued and outstanding - - Common stock; $.001 par value, 30,000,000 shares authorized, 23,810,000 shares issued and outstanding both periods 23,810 23,810 Capital in excess of par value 583,693 583,693 Earnings (deficit) accumulated during the development stage (608,197) (603,262) ------------ ------------ Total Stockholders' Equity (Deficit) (694) 4,241 ------------ ------------ TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 3,806 $ 4,241 ============ ============
See Notes to Condensed Financial Statements. F-1 SICLONE INDUSTRIES, INC. (A Development Stage Company) STATEMENTS OF OPERATIONS (Unaudited)
For the Three For the Nine Months Ended Months Ended Cumulative September 30, September 30, During the ------------------- ------------------- Development 1999 1998 1999 1998 Stage --------- --------- --------- --------- ----------- REVENUE $ - $ - $ - $ - $ - EXPENSES (1,040) - (4,935) (770) (12,694) LOSS FROM DISCONTINUED OPERATIONS - - - - (595,503) --------- --------- --------- --------- ----------- NET INCOME (LOSS) $ (1,040) $ - $ (4,935) $ (770) $ (608,197) ========= ========= ========= ========= =========== EARNINGS (LOSS) PER SHARE $ (0.00) $ (0.00) $ (0.00) $ (0.00) ========= ========= ========= =========
See Notes to Condensed Financial Statements F-2 SICLONE INDUSTRIES, INC. (A Development Stage Company) STATEMENTS OF CASH FLOWS (Unaudited)
For the Three For the Nine Months Ended Months Ended Cumulative September 30, September 30, During the ------------------- ------------------- Development 1999 1998 1999 1998 Stage --------- --------- --------- --------- ----------- CASH FLOWS FROM OPERATING ACTIVITIES Net income (loss) $ (1,040) $ - $ (4,935) $ (770) $ (608,197) --------- --------- --------- --------- ----------- Net Cash Provided (Used) by Operating Activities (1,040) - (4,935) (770) (608,197) --------- --------- --------- --------- ----------- CASH FLOWS FROM INVESTING ACTIVITIES - - - - - --------- --------- --------- --------- ----------- CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from sale of common stock - - - - 607,503 Stockholder advance 4,500 - 4,500 - 4,500 --------- --------- --------- --------- ----------- Net Cash Provided by Financing Activities 4,500 - 4,500 - 612,003 --------- --------- --------- --------- ----------- NET INCREASE (DECREASE) IN CASH 3,460 - (435) (770) 3,806 CASH - BEGINNING OF PERIOD 346 4,241 4,241 5,011 - --------- --------- --------- --------- ----------- CASH - END OF PERIOD $ 3,806 $ 4,241 $ 3,806 $ 4,241 $ 3,806 ========= ========= ========= ========= =========== SUPPLEMENTAL DISCLOSURES Interest $ - $ - $ - $ - $ - ========= ========= ========= ========= =========== Income tax $ - $ - $ - $ - $ - ========= ========= ========= ========= ===========
See Notes to Condensed Financial Statements. F-3 SICLONE INDUSTRIES, INC. (A Development Stage Company) NOTES TO FINANCIAL STATEMENTS NOTE 1 - CONDENSED FINANCIAL STATEMENTS The Company, without audit, has prepared the accompanying financial statements. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows at September 30, 1999 and 1998 and for all the periods presented have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company's December 31, 1998 audited financial statements. The results of operations for the periods ended September 30, 1999 and 1998 are not necessarily indicative for the full year. F-4 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this to be signed on its behalf by the undersigned thereunto duly authorized. Siclone Industries, Inc. October 28, 1999 /s/ Bradley S. Shepherd ----------------------- Bradley S. Shepherd President and Treasurer EX-27 2
5 0001083446 SICLONE INDUSTRIES, INC. 9-MOS DEC-31-1998 JUL-01-1999 SEP-30-1999 3,806 0 0 0 0 3,806 0 0 3,806 4,500 0 0 0 23,810 (24,504) 3,806 0 0 0 0 1,040 0 0 (1,040) 0 (1,040) 0 0 0 (1,040) .00 .00
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