-----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, EktUMPQmxXHABH8HL4ImvbsT6wGMYIQMoPkov2xzmZVc+o5knQ/8TTYJsN4537aH aWnn6Slo17fuySN9dD1AAQ== 0000894535-96-000003.txt : 19960826 0000894535-96-000003.hdr.sgml : 19960826 ACCESSION NUMBER: 0000894535-96-000003 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19960630 FILED AS OF DATE: 19960808 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: GRANDEUR INC CENTRAL INDEX KEY: 0000894498 STANDARD INDUSTRIAL CLASSIFICATION: 6770 IRS NUMBER: 870434294 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 033-55254-15 FILM NUMBER: 96606044 BUSINESS ADDRESS: STREET 1: 3098 S HIGHLAND DR STREET 2: STE 460 CITY: SALT LAKE CITY STATE: UT ZIP: 84106 BUSINESS PHONE: 8014857775 MAIL ADDRESS: STREET 1: 3098 S HIGHLAND DR STE 460 CITY: SALT LAKE CITY STATE: UT ZIP: 84106 10-Q 1 QUARTERLY REPORT ENDED 06/30/96 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 1996 [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to __________ Commission File No. 33-55254-15 GRANDEUR, INC. (Exact name of Registrant as specified in its charter) NEVADA 87-0434294 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification Number) 3098 SO. HIGHLAND DRIVE, SUITE 460 SALT LAKE CITY, UTAH 84106 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (801) 485-7775 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. [X] Yes [ ] No Indicate the number of shares outstanding of each of the registrant's classes of common stock, as of the latest practicable date. Class Outstanding as of August, 1996 - - ------------------------------------ ------------------------------- $.001 PAR VALUE CLASS A COMMON STOCK 1,000,000 SHARES PART I - FINANCIAL INFORMATION Item 1. Financial Statements. BASIS OF REPRESENTATION General The accompanying unaudited financial statements have been prepared in accordance with the instructions to Form 10-Q and, therefore, do not include all information and footnotes necessary for a complete presentation of financial position, results of operations, cash flows and stockholders' equity in conformity with generally accepted accounting principles. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature. Operating results for the quarter ended June 30, 1996, are not necessarily indicative of the results that can be expected for the year ending December 31, 1996. Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. The Company has had no operational history and has yet to engage in business of any kind. All risks inherent in new and inexperienced enterprises are inherent in the Company's business. The Company has not made a formal study of the economic potential of any business. At the present, the Company has not identified any assets or business opportunities for acquisition. As of August, 1996, the Company has no liquidity and no presently available capital resources, such as credit lines, guarantees, etc. and should a merger or acquisition prove unsuccessful, it is possible that the Company may be dissolved by the State of Nevada for failing to file reports, at which point the Company would no longer be a viable corporation under Nevada law and would be unable to function as a legal entity. Should management decide not to further pursue its acquisition activities, management may abandon its activities and the shares of the Company would become worthless. However, the Company's officers, directors and major shareholder have made an oral undertaking to make loans to the Company in amounts sufficient to enable it to satisfy its reporting requirements and other obligations incumbent on it as a public company, and to commence, on a limited basis, the process of investigating possible merger and acquisition candidates. The Company's status as a publicly-held corporation may enhance its ability to locate potential business ventures. The loans will be interest free and are intended to be repaid at a future date, if or when the Company shall have received sufficient funds through any business acquisition. The loans are intended to provide for the payment of filing fees, printing and copying fees and other miscellaneous fees. Based on current economic and regulatory conditions, Management believes that it is possible, if not probable, for a company like the Company, without assets or liabilities, to negotiate a merger or acquisition with a viable private company. The opportunity arises principally because of the high legal and accounting fees and the length of time associated with the registration process of "going public". However, should any of these conditions change, it is very possible that there would be little or no economic value for anyone taking over control of the Company.
GRANDEUR, INC. (A Development Stage Company) BALANCE SHEETS 6/30/96 12/31/95 Unaudited Audited ----------- ----------- ASSETS CURRENT ASSETS Cash in bank $ - 0 - $ - 0 - ----------- ----------- TOTAL CURRENT ASSETS - 0 - - 0 - ----------- ----------- $ - 0 - $ - 0 - =========== =========== LIABILITIES & EQUITY CURRENT LIABILITIES Accounts payable $ - 0 - $ - 0 - ----------- ----------- TOTAL CURRENT LIABILITIES - 0 - - 0 - STOCKHOLDERS' EQUITY Common Stock $.001 par value: Authorized - 100,000,000 shares Issued and outstanding 1,000,000 shares 1,000 1,000 Additional paid-in capital 1,000 1,000 Deficit accumulated during the development stage (2,000) (2,000) ----------- ----------- TOTAL STOCKHOLDERS' EQUITY - 0 - - 0 - ----------- ----------- $ - 0 - $ - 0 - =========== ===========
GRANDEUR, INC. (A Development Stage Company) STATEMENTS OF OPERATIONS 2/06/86 For the three months For the six months (Date of ended June 30, ended June 30, inception) to 1996 1995 1996 1995 6/30/96 Unaudited Unaudited Unaudited Unaudited Unaudited ------------ ------------ ------------- ------------ ------------ Net sales $ - 0 - $ - 0 - $ - 0 - $ - 0 - $ - 0 - Cost of sales - 0 - - 0 - - 0 - - 0 - - 0 - ------------ ------------ ------------- ------------ ------------ GROSS PROFIT (LOSS) - 0 - - 0 - - 0 - - 0 - - 0 - General and administrative expenses - 0 - - 0 - - 0 - - 0 - 2,000 ------------ ------------ ------------- ------------ ------------ NET INCOME (LOSS) $ - 0 - $ - 0 - $ - 0 - $ - 0 - $ (2,000) ============ ============= ============= ============ ============ Net income (loss) per weighted average common shares $ .00 $ .00 $ .00 $ .00 ============ ============= ============= ============ Weighted average number of common shares used to compute net income (loss) 1,000,000 1,000,000 1,000,000 1,000,000 ============ ============ ============= ============
GRANDEUR, INC. (A Development Stage Company) STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY Common Stock Additional Par Value $.001 Paid-in Retained Shares Amount Capital Deficit ---------- ---------- ----------- ----------- Balances at 2/06/86 (Date of inception) - 0 - $ - 0 - $ - 0 - $ - 0 - Issuance of common stock (restricted) at $.002 per share at 4/02/86 1,000,000 1,000 1,000 Net loss for period (1,950) --------- --------- ---------- ----------- Balances at 12/31/86 1,000,000 1,000 1,000 (1,950) Net loss for year (10) --------- --------- ---------- ----------- Balances at 12/31/87 1,000,000 1,000 1,000 (1,960) Net loss for year (10) --------- --------- ---------- ----------- Balances at 12/31/88 1,000,000 1,000 1,000 (1,970) Net loss for year (10) --------- --------- ---------- ----------- Balances at 12/31/89 1,000,000 1,000 1,000 (1,980) Net loss for year (10) --------- --------- ---------- ----------- Balances at 12/31/90 1,000,000 1,000 1,000 (1,990) Net loss for year (10) --------- --------- ---------- ----------- Balances at 12/31/91 1,000,000 1,000 1,000 (2,000) Net loss for year - 0 - --------- --------- ---------- ----------- Balances at 12/31/92 1,000,000 1,000 1,000 (2,000) Net loss for year - 0 - --------- --------- ---------- ----------- Balances at 12/31/93 1,000,000 1,000 1,000 (2,000) Net loss for year - 0 - --------- --------- ---------- ----------- Balances at 12/31/94 1,000,000 1,000 1,000 (2,000) Net loss for year - 0 - --------- --------- ---------- ----------- Balances at 12/31/95 1,000,000 1,000 1,000 (2,000) Net loss for period - 0 - --------- --------- ---------- ----------- Balances at 6/30/96 1,000,000 $ 1,000 $ 1,000 $ (2,000) ========= ========= ========== ===========
GRANDEUR, INC. (A Development Stage Company) STATEMENTS OF CASH FLOWS 2/06/86 For the six months (Date of ended June 30, inception) to 1996 1995 6/30/96 Unaudited Unaudited Unaudited ------------- ------------- ------------- OPERATING ACTIVITIES Net income (loss) $ - 0 - $ - 0 - $ (2,000) Adjustments to reconcile net income (loss) to cash used by operating activities: Amortization - 0 - - 0 - 50 ------------- ------------- ------------- NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES - 0 - - 0 - (1,950) INVESTING ACTIVITIES Organization Costs - 0 - - 0 - (50) ------------- ------------- ------------- NET CASH USED BY INVESTING ACTIVITIES - 0 - - 0 - (50) FINANCING ACTIVITIES Proceeds from sale of common stock - 0 - - 0 - 2,000 ------------- ------------- ------------- NET CASH PROVIDED BY FINANCING ACTIVITIES - 0 - - 0 - 2,000 ------------- ------------- ------------- INCREASE IN CASH AND CASH EQUIVALENTS - 0 - - 0 - - 0 - Cash and cash equivalents at beginning of year - 0 - - 0 - - 0 - ------------- ------------- ------------- CASH & CASH EQUIVALENTS AT END OF PERIOD $ - 0 - $ - 0 - $ - 0 - ============= ============= =============
SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. GRANDEUR, INC. Dated: August 8, 1996 s\Krista Nielson ------------------------------------------------------ Krista Nielson, President, CEO and Director Dated: August 8, 1996 s\David R. Yeaman ------------------------------------------------------ David R. Yeaman, Secretary/Treasurer, CFO and Director -----END PRIVACY-ENHANCED MESSAGE-----