10QSB/A 1 kentexmar0510qa.txt U. S. Securities and Exchange Commission Washington, D. C. 20549 FORM 10-QSB/A [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2005 [ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to -------------- ------------------ Commission File No. ------------------- 0-30955 KENTEX PETROLEUM, INC. ---------------------- (Name of Small Business Issuer in its Charter) NEVADA 87-0645378 ------ ---------- (State or Other Jurisdiction of (I.R.S. Employer I.D. No.) incorporation or organization) 4685 South Highland Dr., Suite 202 Salt Lake City, UT 84117 ------------------------ (Address of Principal Executive Offices) Issuer's Telephone Number: (801)278-9424 None; Not Applicable. -------------------------- (Former Name or Former Address, if changed since last Report) Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Sections 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. (1) Yes X No (2) Yes X No ---- ---- ---- ---- APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS None, Not Applicable; APPLICABLE ONLY TO CORPORATE ISSUERS Indicate the number of shares outstanding of each of the Registrant's classes of common stock, as of the latest practicable date: September 15, 2005 2,357,997 This Amended Quarterly Report on Form 10-QSB is being filed for the sole purpose of correcting the authorized capital on the Balance Sheet. PART I - FINANCIAL INFORMATION Item 1.Financial Statements. The Financial Statements of Kentex Petroleum, Inc., a Nevada corporation (the "Company") required to be filed with this 10-QSB/A Quarterly Report were prepared by management and commence on the following page. In the opinion of management, the Financial Statements fairly present the financial condition of the Registrant.
KENTEX PETROLEUM, INC. BALANCE SHEETS March 31, 2005 and December 31, 2004 3/31/2005 12/31/2004 ----------------- ----------------- [Unaudited] ASSETS Assets $ 0 $ 0 ----------------- ----------------- Total Assets $ 0 $ 0 ================= ================= LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities: Loans from stockholders $ 40,527 $ 18,544 Accounts Payable 10,390 25,000 ----------------- ----------------- Total Current Liabilities 50,917 43,544 Total Liabilities 50,917 43,544 ----------------- ----------------- Stockholders' Deficit: Common Stock, $.001 par value; authorized 100,000,000 shares; issued and outstanding, 2,357,997 shares 2,358 2,358 Paid-in Capital 2,073,802 2,073,802 Accumulated Deficit, prior to development stage (2,041,500) (2,041,500) Deficit accumulated during development stage (85,577) (78,204) ----------------- ----------------- Total Stockholders' Deficit (50,917) (43,544) ----------------- ----------------- Total Liabilities and Stockholders' Deficit $ 0 $ 0 ================= =================
NOTES TO FINANCIAL STATEMENTS: Interim financial statements reflect all adjustments which are, in the opinion of management, necessary to a fair statement of the results for the periods. The December 31, 2004, balance sheet has been derived from the audited financial statements. These interim financial statements conform with the requirements for interim financial statements and consequently do not include all the disclosures normally required by generally accepted accounting principles.
KENTEX PETROLEUM, INC. STATEMENTS OF OPERATIONS For the Three Month Periods Ended March 31, 2005, 2004 and for the Period from Reactivation [May 8, 1999] through March 31, 2005 From the Beginning of Three Months Three Months Reactivation on Ended Ended May 8, 1999 through 3/31/2005 3/31/2004 March 31, 2005 --------------- --------------- -------------------- [Unaudited] [Unaudited] [Unaudited] REVENUE Income $ 0 $ 0 $ 0 --------------- --------------- -------------------- NET REVENUE 0 0 0 Operating Expenses General and Administrative 7,373 401 85,577 --------------- --------------- -------------------- Total Operating Expenses 7,373 401 85,577 --------------- --------------- -------------------- Net Income Before Taxes $ (7,373) $ (401) $ (85,577) =============== =============== ==================== Income/Franchise taxes 0 0 Net loss (7,373) (401) Loss Per Share $ (0.01) $ (0.01) =============== =============== Weighted Average Shares Outstanding 2,357,997 2,357,997 =============== ===============
KENTEX PETROLEUM, INC. STATEMENTS OF CASH FLOWS For the Three Month Periods Ended March 31, 2005, 2004 and for the Period from Reactivation [May 8, 1999] through March 31, 2005 From the Beginning of Three Months Three Months Reactivation on Ended Ended May 8, 1999 through 3/31/2005 3/31/2004 March 31, 2005 -------------- -------------- --------------------- [Unaudited] [Unaudited] [Unaudited] Cash Flows Used For Operating Activities ----------------------------------------------------- Net Loss $ (7,373) $ (401) $ (85,577) Adjustments to reconcile net loss to net cash used in operating activities: Shares issued for services 0 0 34,660 Increase/(Decrease) in accounts payable (14,610) 0 10,390 Increase/(Decrease) in Shareholder Loans 21,983 401 40,527 -------------- -------------- --------------------- Net Cash Used For Operating Activities 0 0 0 ============== ============== Cash Flows Provided by Financing Activities ----------------------------------------------------- Net Cash Provided by Financing Activities 0 0 Net Increase In Cash 0 0 Beginning Cash Balance 0 0 Ending Cash Balance $ 0 $ 0 -------------- --------------
Notes to Consolidated Financial Statements March 31, 2005 NOTE 1 - PRELIMINARY NOTE The accompanying condensed financial statements have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. These interim financial statements include all adjustments, which in the opinion of management, are necessary in order to make the financial statements not misleading. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2005. NOTE 2 - GOING CONCERN The Company does not have significant assets, nor has it established operations and has accumulated losses since inception. These factors raise substantial doubt about the Company's ability to continue as a going concern. It is the intent of the Company to seek a merger with an existing, well-capitalized operating company. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. NOTE 3 - RELATED PARTY PAYABLES A shareholder has paid general and administrative expenses on behalf of the Company, through March 31, 2005, of $40,527. During the period ended March 31, 2005, a shareholder paid $21,983 in expenses on behalf of the Company. Item 6.Exhibits and Reports on Form 8-K. (a) Exhibits EX 31 Certification of Sarah Jenson, the Company's President, pursuant to section 302 of the Sarbanes-Oxley Act of 2002 EX 31.1 Certification of Lisa Howells, the Company's Secretary, pursuant to section 302 of the Sarbanes-Oxley Act of 2002 EX 32 Certification of Sarah Jenson and Lisa Howells pursuant to section 906 of the Sarbanes-Oxley Act of 2002 (b)Current Reports on Form 8-K. Current Report on Form 8-K as filed on December 20, 2004 regarding merger of VidRev, is incorporated herein by reference. 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. KENTEX PETROLEUM, INC. Date: 9-28-05 By/S/ Sarah Jenson Sarah E. Jenson, President and Director Date: 9-28-05 By/S/ Lisa Howells Lisa Howells, Secretary, Treasurer and Director