10QSB 1 malex10qsb103103.txt U.S. SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-QSB (Mark One) x Quarterly report under Section 13, or 15 (d) of the Securities Exchange Act of 1934 For the quarterly period ended October 31, 2003 Transition report under Section 13 or 15 (d) of the Exchange Act For the transition period from ________________ to ________________ Commission file number 33-16335 MALEX, INC. (Exact Name of Small Business Issuer as Specified in Its Charter) Delaware 75-2235008 (State or Other Jurisdiction of (I.R.S. Employer Incorporation or Organization) Identification No.) 18170 Hillcrest, Suite 100, Dallas, Texas, 75252 (Address of Principal Executive Offices) (972) 612 1400 (Issuer's Telephone Number, Including Area Code) (Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report) 6959 Arapaho, Suite 100, Dallas Texas 75248 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 past 90 days. Yes No APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS Check whether the registrant filed all documents and reports required to be filed by Section 12, 13, or 15 (d) of the Exchange Act after the distribution of securities under a plan confirmed by a court. Yes No APPLICABLE ONLY TO CORPORATE ISSUERS State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: 8,416,000 MALEX, INC. I N D E X Page No. Part I FINANCIAL INFORMATION: Item 1. Balance Sheets 3 Statements of Operations 4 Statements of Cash Flows 6 Notes to Financial Statements (unaudited) 7 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 7 Part II OTHER INFORMATION 8 MALEX, INC. (a development stage company) PART I. FINANCIAL INFORMATION CONDENSED BALANCE SHEETS (Unaudited) ASSETS October 31, 2003 April 30, 2003 (Unaudited) (Audited) Cash $ 3 $ 3 Total Assets $ 3 $ 3 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities $ 6,000 $ 5,050 Stockholders' Equity: Common stock (number of shares authorized 75,000,000, issued and outstanding 8,400,000 shares, par value $.00002/sh) 168 168 Additional paid in capital 2,097 2,097 Deficit accumulated during the development stage (8,262) (7,312) Stockholders Equity (5,997) (5,047) Total Liabilities & Stockholders' Equity $ 3 $ 3 The accompanying notes are an integral part of these financial statements. 3 MALEX, INC. (a development stage company) STATEMENTS OF OPERATION (Unaudited) Three Months Ended Three Months Ended October 31, October 31, 2003 2002 Income $ - $ - Expenses - General and Administrative $ 950 $ 2,050 Net Income (Loss) $ (950) $ (2,050) Earnings per common share* * * *(less than $0.001 per share) Weighted average number of shares outstanding 8,416,000 8,416,000 4 MALEX, INC. (a development stage company) STATEMENTS OF OPERATION (Unaudited) Six Months Ended Six Months Ended October 31, October 31, 2003 2002 Income $ - $ - Expenses - General and Administrative $ 950 $ 2,050 Net Income (Loss) $ (950) $ (2,050) Earnings per common share* * * *(less than $0.001 per share) Weighted average number of shares outstanding 8,416,000 8,416,000 The accompanying notes are an integral part of these statements. 5 MALEX, INC. (a development stage company) STATEMENTS OF CASH FLOWS Six Months Six Months Ended Ended October 31, 2003 October 31, 2002 CASH FLOWS FROM OPERATING ACTIVITIES: Cash Received From Customers $ - $ - Cash Paid to Employees and Other Suppliers of Goods and Services - - NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES - - NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES - - NET CASH PROVIDED (USED) BY FINANCIAL ACTIVITIES - - NET INCREASE (DECREASE) IN CASH - - BEGINNING CASH BALANCE 3 3 CASH BALANCE AT END OF PERIOD $ 3 $ 3 The accompanying notes are an integral part of these financial statements. 6 NOTES TO FINANCIAL STATEMENTS (UNAUDITED) Item 1. Financial Statements The accompanying unaudited financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. These statements should be read in conjunction with the audited financial statements and notes thereto included in the Registrant's Form 10-KSB for the year ended April 30, 2003. Item 2. Management Discussion and Analysis of Financial Condition and Results of Operations The period ended October 31, 2003 showed a loss of $(950) compared with $(2,050)for the previous year. This was due to general and administrative expenses for the period of $(950) compared with $(2,050). Registrant has no operations or substantial assets and intends to seek out and obtain candidates with which it can merge or whose operations or assets can be acquired through the issuance of common stock and possibly debt. It is the present expectation of the Management of Registrant that in connection with any such merger or acquisition of operations or assets that the Management of Registrant will be transferred to the new controlling shareholders. The Management of Registrant intends to negotiate covenants with any such company or controlling shareholders that it/they will maintain Registrant's registration with the Securities and Exchange Commission, comply with the terms of its Articles of Incorporation and Bylaws in all respects, maintain and promote an orderly market in Registrant's Common Stock and otherwise treat Registrant's shareholders fairly. Liquidity and Capital Resources Registrant is a development-stage company and has not conducted any business operations as yet. The Registrant's cash resources and liquidity are extremely limited. The Registrant has no assets to use as collateral to allow the Registrant to borrow, and there is no available external funding source. If no combination partner can be found within twelve months, Registrant will experience severe cash flow difficulties. Registrant's principal needs for capital are for Securities and Exchange Commission reporting requirements, bookkeeping and professional fees. 7 PART II. OTHER INFORMATION PART II - OTHER INFORMATION Pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002 which requires, for each company filing periodic reports under Section 13(a) or 15(d) of the Exchange Act that the principal executive officer and the principal financial officer, or persons performing similar functions, makes certain certifications in each annual or quarterly report filed or submitted under either such section of such Act,the undersigned officer certifys that- (1) the signing officer has reviewed the report; (2) based on the officer's knowledge, the report does not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made, in light of the circumstances under which such statements were made, not misleading; (3) based on such officer's knowledge, the financial statements, and other financial information included in the report, fairly present in all material respects the financial condition and results of operations of the issuer as of, and for, the periods presented in the report; (4) the signing officer-- (A) is responsible for establishing and maintaining internal controls; (B) has designed such internal controls to ensure that material information relating to the issuer is made known to the officer particularly during the period in which the periodic reports are being prepared; (C) has evaluated the effectiveness of the issuer's internal controls as of a date within 90 days prior to the report; and (D) has presented in the report his conclusions about the effectiveness of the internal controls based on his evaluation as of that date; (5) has disclosed to the issuer's auditors and the audit committee of the board of directors (or persons fulfilling the equivalent function)- (A) all significant deficiencies in the design or operation of internal controls which could adversely affect the issuer's ability to record, process, summarize, and report financial data and have identified for the issuer's auditors any material weaknesses in internal controls; and (B) any fraud, whether or not material, that involves management or other employees who have a significant role in the issuer's internal controls; and (6) the signing officer has indicated in the report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of their evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses. 8 Item 6. Exhibits and Reports on Form 8-K None 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 thereto duly authorized. MALEX, INC. (Registrant) By: /s/ Daniel Wettreich --------------------------- DANIEL WETTREICH, PRESIDENT Date: December 12, 2003 9