-----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, PRpaEx/50e3jZ9TdHkOEdMHSgWJ48k0ggqqBqLVaDB8mnQe2gcita0o0LbymQB/w tn26vYykDtiXl88GnMDk+A== /in/edgar/work/20000908/0001091818-00-000050/0001091818-00-000050.txt : 20000922 0001091818-00-000050.hdr.sgml : 20000922 ACCESSION NUMBER: 0001091818-00-000050 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000630 FILED AS OF DATE: 20000908 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ASDAR INC CENTRAL INDEX KEY: 0000746631 STANDARD INDUSTRIAL CLASSIFICATION: [6510 ] IRS NUMBER: 880195105 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 000-13577 FILM NUMBER: 718991 BUSINESS ADDRESS: STREET 1: 1750 BARBARA LANE CITY: LEUCADIA STATE: CA ZIP: 92024 BUSINESS PHONE: 7604361273 MAIL ADDRESS: STREET 1: 1750 BARBARA LANE CITY: LEUCADIA STATE: CA ZIP: 92024 FORMER COMPANY: FORMER CONFORMED NAME: ASDAR GROUP /NV/ DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: ASDAR CORP DATE OF NAME CHANGE: 19880131 FORMER COMPANY: FORMER CONFORMED NAME: VENTURE GROUP INC DATE OF NAME CHANGE: 19860220 10-Q 1 0001.txt 1 SECURITIES & EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Quarterly Report Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934 For the Quarter Ended Commission File No. - --------------------- ------------------- MARCH 31, 2000 0-13597 ASDAR INC. ---------- (Exact Name of Registrant) NEVADA 88-0195105 - ------------------------------- ---------- (State or other jurisdiction of (IRS Employer incorporation or organization) Identification No.) 8632 SOUTH HIGHWAY 287 CORSICANA, TEXAS 75110 ---------------------- (Address of Principal Executive Offices) Registrant's telephone number including area code: (888) 488-6882 --------------- Former Address (1750 Barbara Lane, Leucadia, CA 92024): N/A ----- 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 proceeding 12 months (or for such shorter period that the registrant was required to file such report), and (2) has been subject to such filing requirements in the past 90 days: YES X NO ------ ------ Indicate the number of shares outstanding for each of the issuer's classes of Stock as of the last practical date: At June 30, 2000, there were 4,025,999 shares of common stock at $0.001 par value outstanding. 2 ASDAR INC. TABLE OF CONTENTS PART I FINANCIAL STATEMENTS ITEM 1 FINANCIAL STATEMENTS (UNAUDITED) Balance Sheets. . . . . . . . . . . . . . . . . . . . . . .3 Statements of Operations. . . . . . . . . . . . . . . . . .4 Statements of Cash Flows. . . . . . . . . . . . . . . . . .5 Notes to Financial Statements . . . . . . . . . . . . . . .6 ITEM 2 MANAGEMENT'S DISCUSSION AND FINANCIAL CONDITION AND RESULTS OF OPERATIONS . . . . . . . . . . . . . . . . .6 PART II OTHER INFORMATION . . . . . . . . . . . . . . . . . . . . .7 SIGNATURES. . . . . . . . . . . . . . . . . . . . . . . . .8 3 ASDAR INC. Balance Sheets June 30,2000 (Unaudited) & December 31, 1999
March December 31, 2000 31, 1999 ----------- ----------- ASSETS Current Assets - - -------------- Cash $ 2,250 $ 0 Equipment 221,330 0 ----------- ----------- Total Assets $ 223,583 $ 0 =========== =========== Current Liabilities - - ------------------- Accounts Payable 237,854 120,400 ----------- ----------- Total Current Liabilities 237,854 120,400 Stockholders' Equity - - -------------------- Common Stock, 50,000,000 Shares Authorized, at $0.001 Par Value; 2,004,499 & 1,894,499 Shares Issued & Outstanding Respectively 4,025 49,949 Paid In Capital 7,539,278 4,311,951 Treasury Stock (199,167) (199,167) Accumulated Deficit (7,358,407) (4,360,633) ----------- ----------- Total Stockholders' Equity ( 14,271) ( 297,900) ----------- ----------- Total Liabilities & Stockholders' Equity $ 223,583 $ 0 =========== ===========
See Accompanying Notes 4 ASDAR INC. Statements of Operations (Unaudited) For the Three Months Periods Ended March 31, 2000 & 1999
For the Three Months Period For the Three Months Period April 1, April 1, January 1, January 1, to June to June to June to June 30, 2000 30, 1999 30, 2000 30, 1999 ----------- ----------- ----------- ----------- Revenues $ -0- $ -0- $ -0- $ -0- - - -------- ----------- ----------- ----------- ----------- Expenses - - -------- Consulting Fees ( 3,000) 6,000 ( 3,781) 10,000 General & Administrative Expenses 234,584 30 235,099 1,552 ----------- ----------- ----------- ----------- Total Expenses 237,584 6,030 231,318 11,552 ----------- ----------- ----------- ----------- Net Loss ($ 237,584) ($ 6,030) ($ 231,318) ($ 11,552) =========== =========== =========== =========== Loss Per Share ($ 0.06) ($ 0.00) ($ 0.06) ($ 0.01) Weighted Average Shares Outstanding 3,959,734 1,789,499 3,855,300 1,789,499
See Accompanying Notes 5 ASDAR INC. Statements of Cash Flows (Unaudited) For the Three Months Periods Ended June 30, 1999 & 1998
June June 30, 2000 30, 1999 ----------- ----------- Cash Flows from Operating Activities - - ------------------------------------ Net Loss ($ 237,584) ($ 12,557) Adjustments to Reconcile Net Loss to Net Cash Used by Operating Activities; Non Cash Expenses 76,000 500 Increase in Accounts Payable ( 161,584) 12,000 ----------- ----------- Net Cash Used by Operating Activities -0- ( 57) Cash Flows from Investing Activities -0- -0- - - ------------------------------------ --------- ----------- Cash Flows from Financing Activities -0- -0- - - ------------------------------------ --------- ----------- Increase in Cash 1,572 ( 57) ----------- ----------- Cash at Beginning of Period 678 2,427 ----------- ----------- Cash at End of Period $ 2,250 $ 2,370 =========== =========== Disclosures from Operating Activities - - ------------------------------------- Interest $ -0- $ -0- Taxes -0- -0-
See Accompanying Notes 6 ITEM I - - ------ NOTE #1 - Basis of Presentation - - ------------------------------- The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months period ending June 30, 2000, are not necessary indicative of the results that may be expected for the year ended December 31, 2000. For further information, refer to the financial statements and footnotes thereto included in the Company's annual report on Form 10-K for the year ended December 31, 1999. ITEM II - - ------- Management's Discussion and Analysis of Financial Condition and Results of Operation - - -------------------------------------------------------------------------- Liquidity & Capital Resources - - ----------------------------- The Company has been inactive for the current year, except for the development of certain proprietary technology which, if successful, will provide a scalable server platform to build server applications on top of. However, the development is expected to take several months and no revenues will be forthcoming in the current year. The Company is dependent upon its officers, directors and shareholders for cash for any purpose, including the development of the scalable server. Results Of Operations - - --------------------- The Company had no operations other than the development of a scalable server platform to build servers on top of, and continued attempts by management to make additional acquisitions. The Company did acquire TekMaster, Ltd. to develop the scalable server platform for 2,000,000 shares of the Company's restricted common stock and an agreement to fund said development. In addition, the Company has aggressively pursued additional acquisitions, and has thereby incurred additional expenses in so doing. The Company has relied on and continues to rely on its officers, directors, and shareholders for the necessary cash to continue operations. 7 PART II - OTHER INFORMATION Item 1 Legal Proceedings . . . . . . . . . . . . . . . . . . . . . None Item 2 Changes in the Rights of the Company's Security Holders. . . . . . . . . . . . . . . . . . . . . . None Item 3 Defaults by the Company on its Senior Securities. . . . . . . . . . . . . . . . . . . . . . . . . None Item 4 Results of Votes of Security Holders. . . . . . . . . . . . None Item 5 Other Information . . . . . . . . . . . . . . . . . . . . . None Item 6 Exhibits and Reports on Form 8-K. . . . . . . . . . . . . . None 8 SIGNATURES Pursuant to the requirements of the Securities Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized. ASDAR INC. Date: August 28, 2000 By: /S/ Stephen J. Nemergut --------------- --------------------------------- Stephen J. Nemergut President, Secretary and Director EX-27 2 0002.txt FINANCIAL DATA SCHEDULE
5 THIS SCHEDULE CONTAINS QTR. SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE COMPANY'S BALANCE SHEET AND STATEMENT OF OPERATIONS FOR PERIOD ENDED JUN 30, 2000 1 3-MOS DEC-31-1999 JUN-30-2000 2,250 0 0 0 0 2,250 221,333 0 223,583 237,854 0 0 0 4,025 (14,271) 223,583 0 0 0 0 237,584 0 0 (237,584) 0 0 (237,584) 0 0 (237,584) (0.06) (0.06)
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