-----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, O/krdNprevp3+5J+9k7mzWhVjCogzM1cKhCTQ0WnCoiVhZhPoZgLQNWGRISd3HPB cGGME5L/0Ao3YrgHFWW9Vw== 0001016295-02-000062.txt : 20021114 0001016295-02-000062.hdr.sgml : 20021114 20021114115953 ACCESSION NUMBER: 0001016295-02-000062 CONFORMED SUBMISSION TYPE: 10QSB PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20020930 FILED AS OF DATE: 20021114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MICRO ECONOMICS INC CENTRAL INDEX KEY: 0000894552 STANDARD INDUSTRIAL CLASSIFICATION: BLANK CHECKS [6770] IRS NUMBER: 870485314 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10QSB SEC ACT: 1934 Act SEC FILE NUMBER: 033-55254-36 FILM NUMBER: 02822917 BUSINESS ADDRESS: STREET 1: 1800 E SAHARA AVE STREET 2: SUITE 107 CITY: LAS VEGAS STATE: NV ZIP: 89104 BUSINESS PHONE: 8014857775 MAIL ADDRESS: STREET 1: 1800 E SAHARA AVE STREET 2: SUITE107 CITY: LAS VEGAS STATE: NV ZIP: 89104 10QSB 1 september10qsb2002.txt SEPTEMBER 2002 QUARTERLY FILING UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-QSB [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2002 ------------------ [] 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. 33-55254-36 ----------- MICRO-ECONOMICS, INC. (Exact name of Registrant as specified in its charter) NEVADA 87-0485314 - ------------------------------- --------------------- (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification Number) 1800 E. SAHARA, SUITE 107 LAS VEGAS, NEVADA 89104 (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 November, 2002 $.001 PAR VALUE CLASS A COMMON STOCK 1,000,000 SHARES PART I - FINANCIAL INFORMATION Item 1. Financial Statements. The accompanying unaudited financial statements have been prepared in accordance with the instructions to Form 10-QSB 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 September 30, 2002, are not necessarily indicative of the results that can be expected for the year ending December 31, 2002. Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. The Company has not received any income nor incurred any expenses other than accounting fees, has had limited 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 November, 2002, 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. Item 3. Quantitative and Qualitative Disclosures About Market Risk. The Company has no market risk sensitive instruments or market risk exposures. MICRO-ECONOMICS, INC. (A Development Stage Company) BALANCE SHEETS
9/30/02 12/31/01 Unaudited Audited ------------------- ------------------ ASSETS CURRENT ASSETS Cash in bank $ 0 $ 0 ------------------- ------------------ TOTAL CURRENT ASSETS 0 0 ------------------- ------------------ $ 0 $ 0 =================== ================== LIABILITIES & EQUITY (DEFICIT) CURRENT LIABILITIES Accounts payable $ 0 $ 0 ------------------- ------------------ TOTAL CURRENT LIABILITIES 0 0 STOCKHOLDERS' EQUITY (DEFICIT) Common Stock $.001 par value: Authorized - 25,000,000 shares Issued and outstanding 1,000,000 shares 1,000 1,000 Additional paid-in capital 666 666 Deficit accumulated during the development stage (1,666) (1,666) ------------------- ------------------ TOTAL STOCKHOLDERS' EQUITY (DEFICIT) 0 0 ------------------- ------------------ $ 0 $ 0 =================== ==================
MICRO-ECONOMICS, INC. (A Development Stage Company) STATEMENTS OF OPERATIONS (Unaudited)
3/14/90 (Date of Three months ended Nine months ended inception) to 9/30/02 9/30/01 9/30/02 9/30/01 9/30/02 ----------- ----------- ----------- ---------- ------------- Net sales $ 0 $ 0 $ 0 $ 0 $ 0 Cost of sales 0 0 0 0 0 ----------- ----------- ----------- ---------- ------------- GROSS PROFIT 0 0 0 0 0 General & administrative expenses 0 0 0 0 1,666 ----------- ----------- ----------- ---------- ------------- NET LOSS $ 0 $ 0 $ 0 $ 0 $ (1,666) =========== =========== =========== ========== ============= Net income (loss) per weighted average share $ .00 .00 .00 $ .00 =========== =========== =========== ========== Weighted average number of common shares used to compute net income (loss) per weighted average share 1,000,000 1,000,000 1,000,000 1,000,000 =========== =========== =========== ==========
MICRO-ECONOMICS, INC. (A Development Stage Company) STATEMENTS OF CASH FLOWS (Unaudited)
3/14/90 (Date of Three months ended Nine months ended inception) to 9/30/02 9/30/01 9/30/02 9/30/01 9/30/02 ----------- ----------- ----------- ---------- ------------- OPERATING ACTIVITIES Net income (loss) $ 0 $ 0 $ 0 $ 0 $ (1,666) Changes in assets and liabilities: Accounts payable 0 0 0 0 0 ----------- ----------- ----------- ---------- ------------- NET CASH USED BY OPERATING ACTIVITIES 0 0 0 0 (1,666) INVESTING ACTIVITIES 0 0 0 0 0 ----------- ----------- ----------- ---------- ------------- NET CASH USED BY INVESTING ACTIVITIES 0 0 0 0 0 FINANCING ACTIVITIES Proceeds from sale of common stock 0 0 0 0 1,000 Capital contribution 666 ----------- ----------- ----------- ---------- ------------- NET CASH PROVIDED BY FINANCING ACTIVITIES 0 0 0 0 1,666 ----------- ----------- ----------- ---------- ------------- INCREASE IN CASH AND CASH EQUIVALENTS 0 0 0 0 0 Cash and cash equivalents at beginning of year 0 0 0 0 0 ----------- ----------- ----------- ---------- ------------- CASH & CASH EQUIVALENTS AT END OF PERIOD $ 0 $ 0 $ 0 $ 0 $ 0 =========== =========== ========== =========== =============
Item 6. Exhibits and Reports on Form 8-K. Exhibit 99.1 CEO Certification Exhibit 99.2 CFO Certification 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. MICRO-ECONOMICS, INC. Dated: November 5, 2002 s/Krista Nielson ------------------------------------------------------- Krista Nielson, President, CEO and Director Dated: November 5, 2002 s/Sasha Belliston ------------------------------------------------------- Sasha Belliston, Secretary/Treasurer, CFO and Director Exhibit 99.1 CEO Certification In connection with the quarterly report on Form 10-QSB for the quarter ended September 30, 2002 (Report), as filed with the Securities and Exchange Commission, on the date hereof, the undersigned Chief Executive Officer of Micro-Economics, Inc. (the "Company"), certifies to the best of my knowledge, pursuant to 18 USC 1350, as adopted pursuant to ss.302 and promulgated as 18 USC 1350 pursuant to ss.906 of the Sarbanes-Oxley Act of 2002, that: 1. The Report referenced above has been read and reviewed by the undersigned. 2. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934. 3. The Report referenced above 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. 4. I acknowledge that the management of the Company is solely responsible for the fair presentation in the financial statements of the financial position, results of operations and cash flows of the Company in conformity with accounting principles generally accepted in the United States of America. Based upon my knowledge, the financial statements, and other such financial information included in the report, fairly present the financial condition and results of operations of the Company as of and for the period ended September 30, 2002. In my opinion, the accompanying interim financial statements, prepared in accordance with the instructions for Form 10-QSB, are unaudited and contain all material adjustments, consisting only of normal recurring adjustments necessary to present fairly the financial condition, results of operations and cash flows of the Company for the respective interim periods presented. The current period results of operations are not necessarily indicative of results which ultimately will be reported for the full fiscal year. Additionally, I acknowledge that the Company's Board of Directors and Management are solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal control and preventing and detecting fraud. The Company's system of internal accounting control is designed to assure, among other items, that 1) recorded transactions are valid; 2) valid transactions are recorded; and 3) transactions are recorded in the proper period in a timely manner to produce financial statements which present fairly the financial condition, results of operations and cash flows of the Company for the respective periods being presented. /s/ Krista Nielson Krista Nielson, President, CEO and Director Dated: November 14, 2002 ------------------------------------- Exhibit 99.2 CFO Certification In connection with the quarterly report on Form 10-QSB for the quarter ended September 30, 2002 (Report), as filed with the Securities and Exchange Commission, on the date hereof, the undersigned Chief Financial Officer of Micro-Economics, Inc. (the "Company"), certifies to the best of my knowledge, pursuant to 18 USC 1350, as adopted pursuant to ss.302 and promulgated as 18 USC 1350 pursuant to ss.906 of the Sarbanes-Oxley Act of 2002, that: 1. The Report referenced above has been read and reviewed by the undersigned. 2. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934. 3. The Report referenced above 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. 4. I acknowledge that the management of the Company is solely responsible for the fair presentation in the financial statements of the financial position, results of operations and cash flows of the Company in conformity with accounting principles generally accepted in the United States of America. Based upon my knowledge, the financial statements, and other such financial information included in the report, fairly present the financial condition and results of operations of the Company as of and for the period ended September 30, 2002. In my opinion, the accompanying interim financial statements, prepared in accordance with the instructions for Form 10-QSB, are unaudited and contain all material adjustments, consisting only of normal recurring adjustments necessary to present fairly the financial condition, results of operations and cash flows of the Company for the respective interim periods presented. The current period results of operations are not necessarily indicative of results which ultimately will be reported for the full fiscal year. Additionally, I acknowledge that the Company's Board of Directors and Management are solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal control and preventing and detecting fraud. The Company's system of internal accounting control is designed to assure, among other items, that 1) recorded transactions are valid; 2) valid transactions are recorded; and 3) transactions are recorded in the proper period in a timely manner to produce financial statements which present fairly the financial condition, results of operations and cash flows of the Company for the respective periods being presented. /s/ Sasha Belliston Sasha Belliston, CFO and Director Dated: November 14, 2002 ------------------------------------- -----END PRIVACY-ENHANCED MESSAGE-----