-----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, AasUEqfNYCv2SIrODq3muSR3mDd10yDZbHHY682Bfqz1/R/J2pgKl0S5r+seD8Yi aJ8Iuz0V6ILWFTNAkJgnEA== 0001116502-01-500662.txt : 20010625 0001116502-01-500662.hdr.sgml : 20010625 ACCESSION NUMBER: 0001116502-01-500662 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20001031 FILED AS OF DATE: 20010622 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SUN EXPRESS GROUP INC CENTRAL INDEX KEY: 0000878802 STANDARD INDUSTRIAL CLASSIFICATION: AIR TRANSPORTATION, SCHEDULED [4512] IRS NUMBER: 650254624 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 033-42498 FILM NUMBER: 1665811 BUSINESS ADDRESS: STREET 1: 411 LIGHTHOUSE DRIVE CITY: PALM BEACH GARDENS STATE: FL ZIP: 33440 BUSINESS PHONE: 3059232210 MAIL ADDRESS: STREET 1: 411 LIGHTHOUSE DRIVE CITY: PALM BEACH GARDENS STATE: FL ZIP: 33440 10-Q 1 sunexpress10q10.txt QUAETERLY REPORT ON FORM 10-Q (10-31-2000) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) [ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 31, 2000. or [ ] 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: 33-42498 SUN EXPRESS GROUP, INC. ---------------------------------------------------- (Exact name of registrant as specified in its charter) FLORIDA 65-024624 ----------------------------- ----------------- (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 1515 University Drive Suite 111-C Coral Springs, Florida 33065 -------------------------------------------------------- ----- (Address of principal executive offices) (Zip Code) (Registrant's telephone number, including area code) (561) 662-4928 ------------------------------------------------------------------- (Former name, former address and former fiscal year, if changed since last report) 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 ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS: Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. 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 the latest practicable date. COMMON STOCK - 24, 996,198 shares outstanding as of October 31, 2000. Sun Express Group, Inc. Contents Page(s) PART I--FINANCIAL INFORMATION Item 1. Financial Statements Balance Sheets .......................................................... 3 Statements of Operations (unaudited) .................................... 4 Statements of Cash Flows (unaudited) .................................... 5 Note to financial statements (unaudited) ................................ 6 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations .................... 7 2 PART I--FINANCIAL INFORMATION Item 1. Financial Statements. Sun Express Group, Inc. Balance Sheets
October 31, 2000 (Unaudited) July 31, 2000 ------------- -------------- Assets Current Assets Cash $ 1,063 $ 1,130 ------------- ------------- Total Current Assets 1,063 1,130 Total Assets $ 1,063 $ 1,130 ============= ============= Stockholders' Equity Stockholders' Equity Common Stock, $0.001 par value, 100,000,000 shares authorized, 24,996,198 shares issued and outstanding $ 24,996 $ 24,996 Additional paid-in capital 4,191,068 4,191,068 Accumulated deficit (4,215,001) (4,214,934) ------------- ------------- Total Stockholders' Equity $ 1,063 $ 1,130 ============= =============
See accompanying notes to financial statements 3 Sun Express Group, Inc. Statements of Operations (Unaudited)
Three Months Ended October 31 2000 1999 ------------- ------------- Operating Expenses General and administrative $ 67 $ 31 ------------- ------------- Total Operating Expenses 67 31 ------------- ------------- Other Income Interest income -- 17 ------------- ------------- Total Other Income 67 17 Net Loss $ 67 $ 14 ============= ============= Net loss per common share - basic and diluted $ -- $ -- ============= ============= Weighted average number of common shares outstanding - basic and diluted 24,966,198 24,991,198 ============= =============
See accompanying notes to financial statements 4 Sun Express Group, Inc. Statement of Cash Flows (Unaudited)
Three Months Ended October 31 2000 1999 ----------- --------- Cash Flows from Operating Activities: Net loss $ 67 $ 14 ----------- --------- Net Cash Used in Operating Activities (67) (14) ----------- --------- Cash Flows from Financing Activities: Repayment of loans to directors -- (4,994) ----------- --------- Net Cash Used in Financing Activities -- (4,994) ----------- --------- Decrease in Cash and Cash Equivalents (67) (5,008) ----------- --------- Cash and Cash Equivalents at Beginning of Period 1,130 6,164 ----------- --------- Cash and Cash Equivalents at End of Period $ 1,063 $ 1,156 =========== =========
See accompanying notes to financial statements. 5 Sun Express Group, Inc. Note to Financial Statements October 31, 2000 (Unaudited) 4 Note 1 Basis of Presentation The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules and regulations of the Securities and Exchange Commission for interim financial information. Accordingly, they do not include all the information and footnotes necessary for a comprehensive presentation of financial position and results of operations. It is management's opinion, however, that all material adjustments (consisting of normal recurring adjustments) have been made which are necessary for a fair financial statements presentation. The results for the interim period are not necessarily indicative of the results to be expected for the year. For further information, refer to the audited financial statements and footnotes for the years ending July 31, 2000 and 1999 included in the Company's Form 10-KSB. 6 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. Sun Express Group, Inc. (the "Company"), which owned and operated the successful Destination Sun Airways, has been inactive since selling its assets to Air Tran Airways in 1994. Until September of 2000, the Company was constrained by a non-compete agreement that was executed as a part of the sale of assets in 1994. The Company is now seeking new business opportunities and has begun to identify possible new areas of operation. Item 3. Quantitative and Qualitative Disclosures About Market Risk. Not applicable. 7 PART II--OTHER INFORMATION Item 1. Legal Proceedings. NONE. Item 2. Changes in Securities and Use of Proceeds. NONE. Item 3. Defaults Upon Senior Securities. NONE. Item 4. Submission of Matters to a Vote of Security Holders. NONE. Item 5. Other Information. NONE.. Item 6. Exhibits and Reports on Form 8-K (ss.249.308 of this chapter). NONE. 8 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 thereunto duly authorized. SUN EXPRESS GROUP, INC. (Registrant) Name Title Date - ----- ----- ----- /s/ GUY T. LINDLEY PRESIDENT, DIRECTOR June 18, 2001 - ------------------------- AND CEO GUY T. LINDLEY /s/ ROBERT MUNSON SECRETARY AND DIRECTOR June 18, 2001 - ------------------------ ROBERT MUNSON 9 -----END PRIVACY-ENHANCED MESSAGE-----