10QSB 1 cmseptq.htm QUARTERLY REPORT FOR PERIOD ENDING SEPT. 30, 2002 cmseptq

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-QSB

(X) QUARTERLY REPORT UNDER SECTION 13 OR 5(d) OF THE SECURITIES ACT OF 1934:
For the Quarterly Period ended September 30, 2002.

( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE EXCHANGE ACT

For the transition period from __________________ to __________________

Commission file number 0-26919

CYBER MARK INTERNATIONAL CORP.

-----------------------------------

(Name of Small Business Issuer in Its Charter)

Nevada

N/A

(State or Other Jurisdiction of Incorporation or Organization)

(I.R.S. Employer Identification No.)

7500 West Lake Mead Boulevard, Suite 9627

Las Vegas, Nevada 89128

(Address of Principal Executive Offices) (Zip Code)

Issuer's telephone number: (702) 683-3722

Indicate by check mark whether the registrant (1) has filed has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act 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 Section 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 ____ NO _____

APPLICABLE ONLY TO CORPORATE ISSUERS

As of September 30, 2002, 352,223,510 shares of the Issuer's Common Stock were outstanding.

 

<Page>

 

PART I. FINANCIAL INFORMATION

Item 1. FINANCIAL STATEMENTS

 

The Audited financial statements for the period ending September 30, 2002.

 

  

 

 

 

CYBER MARK INTERNATIONAL CORP.

SEPTEMBER 30, 2002 and DECEMBER 31, 2001

FINANCIAL STATEMENTS

 

 

 

 

 

 

 

 

 

 

 

 

<Page>

 

 

 

 

TABLE OF CONTENTS

 

Page Number

INDEPENDENT ACCOUNTANT'S REPORT

1

 

 

FINANCIAL STATEMENTS (POST-REORGANIZATION)

 

 

 

Balance sheets

2

 

 

Income statements

3

 

 

Statement of stockholders' equity

4

 

 

Statement of cash flows

5

 

 

Notes to the Financial Statements

6

 

 

 

 

 

 

 

<Page>

 

 

 

 

 

 

David E. Coffey 6767 West Tropicana Avenue, Suite 216, Las Vegas, Nevada 89103

CERTIFIED PUBLIC ACCOUNTANT Phone (702) 871-3979 FAX (702) 871-6769

 

 

INDEPENDENT ACCOUNTANT'S REPORT
To the Board of Directors and Stockholders
of Cyber mark International Corporation
Las Vegas, Nevada

I have audited the accompanying balance sheets of Cyber Mark International Corp. as of September 30, 2002 and December 31, 2001 and the related statements of operations, cash flows, and changes in stockholders' equity for the years then ended, as well as the cumulative period from September 30, 2001 (date of reorganization) to September 30, 2002. These statements are the responsibility of Cyber Mark International Corporation's management. My responsibility is to express an opinion on these financial statements based on my audit. I conducted my audit in accordance with generally accepted auditing standards. Those standards require that I plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. I believe that my audit provides a reasonable basis for my opinion.

In my opinion, the accompanying financial statements present fairly, in all material respects, the financial position of Cyber Mark International Corporation as of September 30, 2002 and December 31, 2001 and the results of operations, cash flows, and changes in stockholders' equity for the cumulative period from September 30, 2001 in conformity with generally accepted accounting principles.

 

David E. Coffey, C. P. A.
Las Vegas, Nevada
November 15, 2002

 

 

 

 

 

 

 

<Page> 1

 

 

CYBER MARK INTERNATIONAL CORP.
BALANCE SHEET (POST-REORGANIZATION)
SEPTEMBER 30, 2002 and DECEMBER 31, 2001

September 30,
2002
----------------

December 31,
2001
----------------

ASSETS

Cash

$

344
-----------------

$

373
-----------------

Total Assets

$

344
==========

$

373
===========

LIABILITIES & STOCKHOLDERS' EQUITY

Accounts payable

$

1,672
-----------------

$

4,475
-------------------

Total Liabilities

1,672

4,475

Stockholders' Equity

Common stock, authorized 500,000,000 shares
at $.0001 par value, issued and outstanding
352,223,510 shares and 342,223,510 shares,
respectively

35,222

34,222

Preferred stock, authorized 3,000,000 shares at
$.001 par value, issued and outstanding one (1)
share

1

1

Additional paid-in capital

3,452,298

3,443,298

Deficit accumulated

(3,488,859)
----------------

(3,481,623)
-------------------

Total Stockholders' Equity

(1,338)

(4,102)

Total Liabilities and Stockholders' Equity

$

344
=========

$

373
===========

The accompanying notes are an integral part of
these financial statements.

 

 

 

- 2 -

 

 

CYBER MARK INTERNATIONAL CORP.
STATEMENTS OF OPERATIONS (POST-REORGANIZATION)
SEPTEMBER 30, 2002 AND DECEMBER 31, 2001

Nine months
ending
Sept. 30, 2002
------------------

From reorganization,
Sept. 30, 2001 to
December 31, 2001
-----------------------

From reorganization,
September 30, 2001
to Sept. 30, 2002
-----------------------

Income

$

0

$

0

$

0

Rent

0

600

600

Fees

1,223

4,475

5,698

Professional fees

6,000

0

6,000

Bank charges

13
------------------

27
--------------------

40
-------------------

Total expenses

7,236

5,102

12,338

Net loss

(7,236)
------------------

(5,102)
-------------------

(12,338)
---------------------

Retained earnings, beginning of period

(3,481,623)
-------------------

(3,476,521)
---------------------

(3,476,521)
--------------------

Deficit accumulated

$

(3,488,859)
===========

$

(3,481,623)
============

$

(3,488,859)
===============

Earnings (loss) per share of common stock, assuming dilution:

Net loss

$

0.00

$

0.00

$

0.00

==========

============

============

Weighted average common shares
outstanding

348,890,177

342,223,510

347,223,510

==========

============

============

 

The accompanying notes are an integral part of
these financial statements

- 3 -

 

CYBER MARK INTERNATIONAL CORP.
STATEMENT OF STOCKHOLDERS' EQUITY (POST-REORGANIZATION)
FROM REORGANIZATION SEPTEMBER 30, 2001 TO SEPTEMBER 30, 2002

Common shares
issued and
outstanding
------------------

Common

Stock
-----------

Preferred

Stock
-----------

Additional
Paid-in
Capital
--------------

Deficit
accumulated
---------------

Total
-----------

$

$

$

$

$

Balance, pre-reorganization September 30, 2001

332,223,510

33,222

1

3,311,380

(3,476,521)

(131,918)

Gain on exchange of equipment for discharge of accounts payable and loans from stockholders



0



0





131,918



0



131,918

Issuance of 10,000,000 shares at $.0001 per share, September 30, 2001


10,000,000


1,000


0


0


0


1,000

---------------

------------

------------

--------------

-----------------

-------------

Balance, post-reorganization Sept. 30, 2001

342,223,510

34,222

1

3,443,298

(3,476,521)

1,000

Post-reorganization loss

0

0

0

0

(5,102)

(5,102)

------------------

------------

-----------

---------------

-----------------

-------------

Balance, December 31, 2001

342,223,510

$

34,222

$

1

$

3,443,298

$

(3,481,623)

$

(4,102)

Issuance of 10,000,000 shares at $.001,
April 24, 2002


10,000,000

1,000

0

9,000

0

10,000

Less net loss

0

0

0

0

(7,236)

(7,236)

------------------

------------

------------

--------------

-----------------

-------------

Balance, September 30, 2002

352,223,510

35,222

1

3,452,298

(3,488,859

(1,338)

==========

=======

=======

=========

==========

========

 

The accompanying notes are an integral part of
these financial statements.

 

- 4 -

 

CYBER MARK INTERNATIONAL CORP.
STATEMENTS OF CASH FLOWS (POST-REORGANIZATION)
SEPTEMBER 30, 2002 AND DECEMBER 31, 2001

Nine months
ending
Sept. 30, 2002
-----------------

From reorganization,
Sept. 30, 2001
to
December 31, 2001
--------------------------

From reorganization,
Sept. 30, 2001
to
Sept. 30, 2002
--------------------------

CASH FLOWS PROVIDED BY OPERATING ACTIVITIES

Net Loss

$

(7,236)

$

(5,102)

$

(12,338)

Non-cash items included in net loss
Adjustments to reconcile net loss to
cash used by operating activity

Accounts payable

(2,803)
----------------

4,475
-----------------

1,672
-----------------

NET CASH PROVIDED BY
OPERATING ACTIVITIES

(5,574)

(627)

(10,666)

CASH FLOWS FROM INVESTING ACTIVITIES

0

0

0

CASH FLOWS FROM FINANCING ACTIVITIES

Sale of common stock

1,000

1,000

2,000

Additional paid-in capital

9,000
----------------

0
-------------------

9,000
------------------

NET CASH PROVIDED BY
FINANCING ACTIVITIES

10,000

1,000

11,000

NET INCREASE IN CASH

(39)

373

$

334
===========

CASH AT BEGINNING OF PERIOD

373
-------------

0
-----------------

CASH AT END OF PERIOD

$

334
=========

$

373
===========



The accompanying notes are an integral part of
these financial statements.

- 5 -

 

 

CYBER MARK INTERNATIONAL CORP.
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2002 AND DECEMBER 31, 2001

 

NOTE A PRE-REORGANIZATION

Cyber Mark International Corp. was incorporated in the State of Delaware on June 9, 1998. The Company was reorganized September 30, 2001.

NOTE B REORGANIZATION SEPTEMBER 30, 2001

The Company was reorganized on September 30, 2001. The Company will continue in the entertainment business, subject to the preparation of a business plan and attainment of sufficient capital to support the plan.

NOTE C EXCHANGE OF EQUIPMENT FOR SATISFACTION OF DEBT

Coincident with the reorganization, accounts payable vendors and stockholders with outstanding loans to the Company agreed to accept equipment with a net book value of $71,051 in full satisfaction of debt totaling $202,969. The result was a capital contribution of $131,918.

NOTE D COMMON STOCK ISSUES

On September 30, 2001 the Company sold 10,000,000 shares of its common stock at $.0001 per share for a total of $1,000. The proceeds were to be used for working capital.

NOTE E SUBSEQUENT EVENTS

The Company was changed from a Delaware corporation to a Nevada corporation on April 18, 2002. Articles of Conversion, from Delaware to Nevada, were filed on that date. Articles of Incorporation in Nevada were filed on April 19, 2002.

 

 

 

 

 

 

 

 

 

<Page> 6

 

 

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS

OF OPERATION.

There were no sales, no revenues, nor operating expenses this quarter.

 

PART II - OTHER INFORMATION

Item 1. Legal Proceedings.

None.

Item 2. CHANGES IN SECURITIES AND USE OF PROCEEDS.

None.

Item 3. Default Upon Senior Securities

None.

Item 4. Submission of matters To a Vote of Security Holders

None.

Item 5. Other Information.

None.

<Page>

 

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

Reports on Form 8-K: None

Exhibits: None.

SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

CYBER MARK INTERNATIONAL CORP.

Dated: November 18, 2002

By: /s/ Ian McIntyre
Ian McIntyre, President

 

 

<Page>