-----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, PmUWozW4FS1VI8dv7xc3gsDGWz6362rcvqMWKk9P8jYBZ+QRnNIn92Lu+64dYUn3 KOs64F5cdxGWy06lK0/jEQ== /in/edgar/work/20000814/0001078782-00-000059/0001078782-00-000059.txt : 20000921 0001078782-00-000059.hdr.sgml : 20000921 ACCESSION NUMBER: 0001078782-00-000059 CONFORMED SUBMISSION TYPE: 10QSB PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000630 FILED AS OF DATE: 20000814 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HOLOGRAPHIC SYSTEMS INC CENTRAL INDEX KEY: 0001114977 STANDARD INDUSTRIAL CLASSIFICATION: [9995 ] IRS NUMBER: 84098940 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10QSB SEC ACT: SEC FILE NUMBER: 000-30689 FILM NUMBER: 697230 BUSINESS ADDRESS: STREET 1: 4685 S HIGHLAND DR STREET 2: SUITE 202 CITY: SALT LAKE CITY STATE: UT ZIP: 84117 BUSINESS PHONE: 8012741011 MAIL ADDRESS: STREET 1: 4685 S HIGHLAND DR STREET 2: SUITE 202 CITY: SALT LAKE CITY STATE: UT ZIP: 84117 10QSB 1 0001.txt JUNE 2000 10-QSB HOLOGRAPHIC SYSTEMS, INC. U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-QSB (X) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2000 ( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File number: 0-30689 HOLOGRAPHIC SYSTEMS, INC. (Exact name of registrant as specified in charter) Nevada 84-0989940 (State or other jurisdiction of (I.R.S. Employer I.D. No.) incorporation or organization) 4685 S. Highland Dr., Suite 202, Salt Lake City, UT 84117 (Address of principal executive offices) (Zip Code) Issuer's telephone number, including area code: 801-274-1011 Not Applicable (Former name, address and fiscal year, if changed since last report) 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. (1) Yes [X] No [ ] (2) Yes [X] No [ ] APPLICABLE ONLY TO CORPORATE REGISTRANTS State the number of shares outstanding of each of the issuer's classes of common equity, as of June 30, 2000: 186,964 shares of common stock APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS: Check whether the registrant has filed all documents and reports required to be filed by Sections 12, 13, or 15(d)of the Exchange Act subsequent to the distribution of securities under a plan confirmed by a court. Yes [ ] No [ ] Transitional Small Business Format: Yes [ ] No [X] Documents incorporated by reference: None PART I - FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS The accompanying balance sheets of Holographic Systems, Inc. ( development stage company) at June 30, 2000 and December 31 1999, and the related statements of operations for the three and six months ended June 30, 2000 and 1999 and the period January 1, 2000 to June 30, 2000, the statement of cash flows for the six months ended June 30, 2000 and 1999, and the period January 1, 2000 to June 30, 2000, have been prepared by the Company's management and they do not include all information and notes to the financial statements necessary for a complete presentation of the financial position, results of operations, cash flows, and stockholders' equity in conformity with generally accepted accounting principles. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature. Operating results for the quarter ended June 30, 2000, are not necessarily indicative of the results that can be expected for the year ending December 31, 2000. HOLOGRAPHIC SYSTEMS, INC. ( Development Stage Company ) BALANCE SHEETS June 30, 2000 and December 31, 1999
June 30, Dec 31, 2000 1999 ------- ------- ASSETS CURRENT ASSETS Cash $ - $ 483 -------- -------- Total Current Assets $ - $ 483 ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES $ - $ 2,000 ------- -------- Total Current Liabilities - 2,000 ------- -------- STOCKHOLDERS' EQUITY Common stock 100,000,000 shares authorized, at $.001 par value; 186,964 issued and outstanding on June 30; 136,864 on December 31 187 137 Capital in excess of par value 793,821 791,204 Deficit accumulated during development stage (794,008) (792,858) -------- -------- Total Stockholders' Equity (Deficiency) $ - $ (1,517) -------- -------- TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ - $ 483 ======== ========
The accompanying notes are an integral part of these financial statements. HOLOGRAPHIC SYSTEMS, INC. ( Development Stage Company ) STATEMENTS OF OPERATIONS For the Three and Six Month Periods Ended June 30, 2000 & 1999 and the Period January 1, 2000 (Date of Inception of Development Stage) to June 30, 2000
Three Months Six Months Jan 1, 2000 Jun 30, Jun 30, Jun 30, Jun 30, to 2000 1999 2000 1999 Jun 30, 2000 -------- -------- ------- ------- ----------- REVENUE $ - $18,560 $ - $37,120 $ - EXPENSES - 19,098 1,150 38,196 1,150 ------ ------ ------ ------ ------ NET LOSS $ - $ (538) $(1,150) $(1,076) $(1,150) ====== ====== ======= ====== ====== NET LOSS PER COMMON SHARE Basic $ - $ - $ (0.01) $ (0.01) AVERAGE OUTSTANDING SHARES Basic 186,964 136,864 186,964 136,964 ------- ------- ------- -------
The accompanying notes are an integral part of these financial statements. Holographic Systems, Inc. ( Development Stage Company ) STATEMENT OF CASH FLOWS (Unaudited) For the Six Month Periods Ended June 30, 2000 & 1999
Jan 1, 2000 Jun 30, Jun 30, to Jun 30, 2000 1999 2000 ------- ------- ----------- CASH FLOWS FROM OPERATING ACTIVITIES Net loss $(1,150) $(1,076) $(1,150) Adjustments to reconcile net loss to net cash provided by operating activities: Changes in accounts payable (2,000) 1,076 (2,000) Issuance of capital stock and contributions to capital - expenses 2,667 - 2,667 ------ ----- ----- Net Cash Used in Operations (483) - (483) ------ ----- ----- CASH FLOWS FROM INVESTING ACTIVITIES - - - ------ ----- ----- CASH FLOWS FROM FINANCING ACTIVITIES - - - ------ ----- ----- Net Increase (Decrease) in Cash (483) - (483) Cash at Beginning of Period 483 - 483 ------ ----- ------ Cash at End of Period $ - $ - $ - ====== ===== ====== NON CASH FLOWS FROM OPERATING ACTIVITIES Issuance of 50,000 common shares for services $1,000 ----- Contributions to capital - expenses - related party 1,495 -----
The accompanying notes are an integral part of these financial statements. HOLOGRAPHIC SYSTEMS , INC. NOTES TO FINANCIAL STATEMENTS ========================================================================== 1. ORGANIZATION The Company was incorporated under the laws of the State of Colorado on May 16, 1985 with the name of "Mountain Ashe, Inc." with authorized common stock of 100,000,000 shares with a par value of $0.0001. On September 23, 1987 the was name changed to "Holographic Systems, Inc." and on February 7, 2000 the domicile was changed to the state of Nevada in connection with a change in par value to $0.001. On February 7, 2000 the Company completed a reverse common stock split of one share for 20 outstanding shares. This report has been prepared showing after stock split shares with a par value of $.001 from inception. The Company has been in the business of marketing PC computers and accessories and during 1999 ceased operations. After 1999 the Company is considered to be a development stage company. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Methods The Company recognizes income and expenses based on the accrual method of accounting. Dividend Policy The Company has not adopted a policy regarding payment of dividends. Income Taxes At June 30, 2000 the Company had a net operating loss carry forward of $794,008. The tax benefit from the loss carry forward has been fully offset by a valuation reserve because the use of the future tax benefit is undeterminable since the Company has no operations. The net operating loss will expire starting in 2001 through 2021. Basic and Diluted Net Income (Loss) Per Share Basic net income (loss) per share amounts are computed based on the weighted average number of shares actually outstanding. Diluted net income (loss) per share amounts are computed using the weighted average number of common shares and common equivalent shares outstanding as if shares had been issued on the exercise of the preferred share rights unless the exercise becomes antidilutive and then only the basic per share amounts are shown in the report. Financial Instruments The carrying amounts of financial instruments, including cash and accounts payable, are considered by management to be their estimated fair values. Comprehensive Income The Company adopted Statement of Financial Accounting Standards No. 130. The adoption of this standard had no impact on the total stockholder's equity. Recent Accounting Pronouncements The Company does not expect that the adoption of other recent accounting pronouncements will have a material impact on its financial statements. Estimates and Assumptions Management uses estimates and assumptions in preparing financial statements in accordance with generally accepted accounting principles. Those estimates and assumptions affect the reported amounts of the assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could vary from the estimates that were assumed in preparing these financial statements. 3. GOING CONCERN The Company intends to acquire interests in various business opportunities which, in the opinion of management, will provide a profit to the Company, however there is insufficient working capital for any future planned activity. Continuation of the Company as a going concern is dependent upon obtaining additional working capital and the management of the Company has developed a strategy, which it believes will accomplish this objective through additional equity funding and long term debt which will enable the Company to conduct operations for the coming year. There can be no assurance that they will be successful in this effort. ITEM 2. PLAN OF OPERATIONS MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION OR PLAN OF OPERATION The Company's management is seeking and intends to acquire interests in various business opportunities which, in the opinion of management, will provide a profit to the Company but it does not have the working capital to be successful in this effort. Continuation of the Company as a going concern is dependent upon obtaining the working capital to provide working capital for its planned activity. The management of the Company has developed a strategy, which they believe can obtain the needed working capital through additional equity funding and long term debt which will enable the Company to be successful in its planned efforts. Liquidity and Capital Resources The Company will need additional working capital to to finance its planned activity. Results of Operations The Company has had no operations during this reporting period. Exhibits and Reports on Form 8-K. Reports on Form 8-K: No reports on Form 8-K were filed by the Company during the quarter ended June 30, 2000. Exhibits: Included only with the electronic filing of this report is the Financial Data Schedule for the Six month period ended June 30, 2000 (Exhibit ref. No. 27). SIGNATURES In accordance with the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Holographic Systems, Inc. Date: August 14, 2000 By /s/ Justeene Blankenship ---------------------- Justeene Blankenship, President EX-27 2 0002.txt
5 6-MOS DEC-31-2000 JAN-01-2000 JUN-30-2000 0 0 0 0 0 0 0 0 0 0 0 0 0 187 (187) 0 0 0 0 0 1,150 0 0 (1,150) 0 (1,150) 0 0 0 (1,150) (.01) (.01)
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