10-Q 1 acteksept.txt ACTEK INC FORM 10-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2000 Commission file number 2-92453-S ACTEK, INC. (Exact name of registrant as specified in its charter) WASHINGTON 91-1228719 (State or other jurisdiction of (IRS Employer incorporation or organization) Identification Number) 12740 38th N. E. Seattle, Washington (Address of principal executive offices) 98125 (Zip Code) (206) 363-0217 (Registrant's Telephone Number, Including Area Code) 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. Yes X No --- APPLICABLE ONLY TO CORPORATE ISSUERS Indicate the number of shares outstanding of each of the issuer's classes of common stock as of September 30, 2000: (Common Stock) 65,654 492 TABLE OF CONTENTS PART I PAGE ---- ITEM 1 Financial Statements 3 Statements of Balance Sheets as of September 30, 2000 And June 30, 2000 3 Statements of Operations for the Three Month Period Ended September 30, 2000 4-5 Statements of Cash Flows for the for the Three Month Period Ended September 30, 2000 6 Notes on Financial Statements 7 ITEM 2 Management's Discussion and Analysis of Financial Condition and Results of Operations 8 PART II ITEM 1 Legal Proceedings 9 ITEM 2 Changes in Securities 9 ITEM 3 Defaults Upon Senior Securities 9 ITEM 4 Submission of Matters to a Vote of Security Holders 9 ITEM 5 Other Information 9 ITEM 6 Exhibits and Reports on Form 8-K 9 Page 2 of 9 ACTEK, INC. BALANCE SHEETS September 30, 2000 June 30, 2000 ------------------ ----------------- ASSETS CURRENT ASSETS Cash $ 49,280 $ 64,155 Accounts receivable, net of allowance for doubtful accounts 108,726 143,132 Inventory, net of reserve for obsolete inventory 236,117 236,1