-----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, G2u0EebdCkcSx81VivLEOKtSuHOSkH8Ay/z1GdOv0hnZzm9wmfDcuyNHSVkk6P+5 dATyRGchdTVV5zWnl5SLGg== 0001037979-97-000009.txt : 19971003 0001037979-97-000009.hdr.sgml : 19971003 ACCESSION NUMBER: 0001037979-97-000009 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19970831 FILED AS OF DATE: 19971002 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: CONCAP INC CENTRAL INDEX KEY: 0000835909 STANDARD INDUSTRIAL CLASSIFICATION: BLANK CHECKS [6770] IRS NUMBER: 760252296 STATE OF INCORPORATION: TX FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 000-17597 FILM NUMBER: 97689980 BUSINESS ADDRESS: STREET 1: 551 NW 77TH ST STREET 2: CTE 109 CITY: BOCA RATON STATE: FL ZIP: 33487-2722 BUSINESS PHONE: 4079982722 MAIL ADDRESS: STREET 1: 551 NW 77TH STREET SUITE 109 CITY: BOCA RATON STATE: FL ZIP: 33487-1330 FORMER COMPANY: FORMER CONFORMED NAME: CONTINENTAL CAPITAL RESOURCES INC DATE OF NAME CHANGE: 19920703 10-Q 1 CONCAP, INC. 8/31/97 10-Q SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES AND EXCHANGE ACTS OF 1934 For Quarter Ended August 31, 1997 Commission File No. 0-17597 CONCAP, INC. (formerly known as CONTINENTAL CAPITAL RESOURCES, INC. (Exact Name of Registrant as Specified in its Charter) TEXAS 76-0252296 (State or Other Jurisdiction of (I.R.S. Employer Identification Incorporation or Organization) No.) 568 East Woolbright Road, Suite 466, Boynton Beach, FL 33435 (Address of Principal Executive Office) (Zip Code) Registrant's Telephone Number, Including Area Code (561) 265-3221 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 twelve 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 ninety days. Yes X No The number of shares of registrant's Common Stock, $.003 par value, outstanding as of August 31, 1997 as 50,815,488 shares. CONCAP, INC. INDEX Page Number PART I -- FINANCIAL INFORMATION: Item 1. Financial Statements Balance Sheet -- August 31, 1997 (Unaudited) and May 31, 1997 (Audited) . . . . . . . . . . . . . 1 Statement of Operations (Unaudited) -- For the Periods Ended August 31, 1997 and 1996. . . . . . . . . . . . 2 Statement of Cash Flows (Unaudited) -- For the Periods Ended August 31, 1997 and 1996 . . . . . . . . . . . 3 Notes to Financial Statements. . . . . . . . . . . . .4 Item 2 Management's Discussion and Analysis of Financial Condition and Results of Operation. . . . . . . . . .5 PART II -- OTHER INFORMATION: Item 6 Exhibits and Reports on Form 8-K. . . . . . . . . .7 SIGNATURES. . . . . . . . . . . . . . . . . . . . . . . . . . . .8 CONCAP, INC. (A Developmental Stage Company) Boca Raton, FL BALANCE SHEET Aug. 31, 1997 May 31, 1997 (unaudited) (audited) CURRENT ASSETS: Cash $ 0 $ 0 FURN. & EQUIPMENT: Equipment, net 0 0 OTHER ASSETS: Organization Costs, net 0 0 TOTAL ASSETS $ 0 $ 0 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts Payable $ 6,440 $ 6,440 Accrued Expenses 203,716 194,716 Loan Payable - Officers 1,200 1,200 Total Current Liabilities $ 211,356 $ 202,356 STOCKHOLDERS' EQUITY: Common Stock, $.0001 par value 500,000,000 shares authorized; 50,815,488 shares issued and outstanding $ 5,082 $ 5,082 Additional paid-in capital 699,665 699,665 Deficit accumulated during the development stage (916,103) (907,103) Total Stockholders' Equity (211,356) (202,356) TOTAL LIABILITIES AND STOCKHOLDERS EQUITY $ 0 $ 0 The accompanying notes are an integral part of these financial statements 1 CONCAP, INC. (A Development Stage Company) STATEMENT OF OPERATIONS FOR THE PERIODS ENDED AUGUST 31, 1997 AND 1996 (Unaudited) Three Mos. Three Mos. EndedEnded Aug. 31, 1996 Aug. 31, 1997 OPERATING REVENUES $ 0 $ 0 OPERATING EXPENSES 9,000 9,000 OPERATING INCOME (LOSS) (9,000) (9,000) NET LOSS DURING DEVELOPMENT STAGE $ (9,000) $( 9,000) EARNINGS (LOSS) PER SHARE NIL NIL WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING 50,815,488 50,815,488 The accompanying notes are an integral part of these financial statements 2 CONCAP, INC. (A Developmental Stage Company) Boca Raton, Florida STATEMENT OF CASH FLOWS (Unaudited) Three Months Ended August 31, 1997 1996 CASH FLOWS FROM OPERATING ACTIVITIES: Net Income (Loss) $( 9,000) ( 9,000) Adjustments to Reconcile Net Income (Loss) to Net Cash provided by Operating Activities: Depreciation and Amortization 0 0 CHANGES IN ASSETS AND LIABILITIES: Increase in Accrued Expenses 9,000 9,000 NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES 0 0 NET INCREASE (DECREASE) IN CASH 0 0 CASH AT BEGINNING OF PERIOD 0 0 CASH AT END OF PERIOD 0 0 The accompanying notes are an integral part of these financial statements. 3 CONCAP, INC. (A Development Stage Company) Boca Raton, Florida NOTES TO UNAUDITED FINANCIAL STATEMENTS 1. BASIS OF REPRESENTATION The accompanying financial statements reflect all adjustments which, in the opinion of management, are necessary for a fair presentation of the financial position and the results of operations for the interim periods represented. Certain financial information which is normally included in financial statements prepared in accordance with generally accepted accounting principals, but which is not required for interim reporting purposes, has been condensed or omitted. The accompanying financial statements should be read in conjunction with the financial statements and notes thereto as of May 31, 1997 contained in the Company's Annual Report on Form 10-K. 2. EARNINGS PER SHARE Per share information is computed based on the weighted average number of shares outstanding during the periods. 4 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Material Changes in Results of Operations During the quarter ended August 31, 1997, the Company continued its search for suitable potential merger or acquisition candidates as well as its consideration for possible subsidiary shell merger/spin-off candidates. The Company has had limited operations since its inception and for the quarters ended August 31, 1997 and 1996, the Company had no operating revenue. Electronic Imagery, Inc.'s restricted stock consisting of 35,000 shares of common stock is currently valued at $50,000.00, although there is no guarantee any proceeds will be received in the event of sale of said stock. There was no Interest Income reported for the quarter. For the quarters ended August 31, 1997 and 1996, the Company had operating expenses of $ 9,000.00 each, consisting primarily of professional fees, all relating to the Company's search for and negotiations with potential merger or acquisition candidates, and compliance with reporting requirements associated with the Company's status as a public company. Thus the Company reported an operating loss of $9,000.00 for the periods. On August 26, 1996, the name of the corporation was changed to Concap, Inc. In July of 1997 the company moved offices to 568 East Woolbright Road, Suite 466, Boynton Beach, Florida 33435, telephone number was changed to (561) 265-3221. 5 Material Changes in Financial Conditions, Liquidity and Capital Resources An accurate barometer of the Company's liquidity is its cash balances. The Company's cash balances were $ -0- at August 31, 1997 and August 31, 1996, the same period of the preceding year. The company's operation have been and continue to be conducted on a severely curtailed basis. Management of the Company is funding the cash needs via reduced consulting fees, and sale of stock proceeds. 6 PART II -- OTHER INFORMATION Item 6. Exhibits and Reports on Form 8-K A. Exhibits None B. Reports on Form 8-K None 7 SIGNATURES Pursuant to the requirements of the Securities Exchange Acts of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. CONCAP, INC. Date: By: CARL H. CANTER, President 8 -----END PRIVACY-ENHANCED MESSAGE-----