-----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, VGmTLuMZhAf6WDqhGY73zlFsCr4xdg5rrDDjoe23Ko08/VOsadMkGtVCrH10w9WO mNZMq/HgG2WwXZSeirvRYg== 0001045399-04-000040.txt : 20040428 0001045399-04-000040.hdr.sgml : 20040428 20040428112806 ACCESSION NUMBER: 0001045399-04-000040 CONFORMED SUBMISSION TYPE: 10QSB PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20040331 FILED AS OF DATE: 20040428 FILER: COMPANY DATA: COMPANY CONFORMED NAME: KENTEX PETROLEUM INC CENTRAL INDEX KEY: 0001104485 STANDARD INDUSTRIAL CLASSIFICATION: BLANK CHECKS [6770] IRS NUMBER: 870645378 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10QSB SEC ACT: 1934 Act SEC FILE NUMBER: 000-30955 FILM NUMBER: 04759179 BUSINESS ADDRESS: STREET 1: 5525 SOUTH 900 EAST STREET 2: SUITE 110 CITY: SALT LAKE CITY STATE: UT ZIP: 84117 BUSINESS PHONE: 8012628844 MAIL ADDRESS: STREET 1: 5525 SOUTH 900 EAST STREET 2: SUITE 110 CITY: SALT LAKE CITY STATE: UT ZIP: 84117 10QSB 1 march0410q.txt KENTEXMAR0410QSB U. S. Securities and Exchange Commission Washington, D. C. 20549 FORM 10-QSB [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2004 [ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to -------------- ------------------ Commission File No. ----------- 0-30955 KENTEX PETROLEUM, INC. ------------------------------------- (Name of Small Business Issuer in its Charter) NEVADA 87-0645378 -------- ------------ (State or Other Jurisdiction of (I.R.S. Employer I.D. No.) incorporation or organization) 4685 South Highland Dr., Suite 202 Salt Lake City, UT 84117 ------------------------ (Address of Principal Executive Offices) Issuer's Telephone Number: (801)278-9424 None; Not Applicable. -------------------------- (Former Name or Former Address, if changed since last Report) Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Sections 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. (1) Yes X No (2) Yes X No ---- ---- ---- ---- APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS None, Not Applicable; APPLICABLE ONLY TO CORPORATE ISSUERS Indicate the number of shares outstanding of each of the Registrant's classes of common stock, as of the latest practicable date: April 26, 2004 2,357,997 PART I - FINANCIAL INFORMATION Item 1.Financial Statements. The Financial Statements of the Registrant required to be filed with this 10-QSB Quarterly Report were prepared by management and commence on the following page. In the opinion of management, the Financial Statements fairly present the financial condition of the Registrant.
KENTEX PETROLEUM, INC. BALANCE SHEETS March 31, 2004 and December 31, 2003 3/31/2004 12/31/2003 ----------------- ----------------- [Unaudited] ASSETS Assets $ 0 $ 0 ----------------- ----------------- Total Assets $ 0 $ 0 ================= ================= LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities: Loans from stockholders $ 13,816 $ 13,460 Accounts Payable 0 0 Accrued Interest 0 0 ----------------- ----------------- Total Current Liabilities 13,816 13,460 Total Liabilities 13,816 13,460 ----------------- ----------------- Stockholders' Deficit: Common Stock, $.001 par value; authorized 100,000,000 shares; issued and outstanding, 2,357,997 shares 2,358 2,358 Paid-in Capital 2,073,802 2,073,802 Accumulated Deficit, prior to development stage (2,041,500) (2,041,500) Deficit accumulated during development stage (48,521) (48,120) ----------------- ----------------- Total Stockholders' Deficit (13,861) (13,460) ----------------- ----------------- Total Liabilities and Stockholders' Deficit $ 0 $ 0 ================= =================
KENTEX PETROLEUM, INC. STATEMENTS OF OPERATIONS For the Three Month Periods Ended March 31, 2004, 2003 and for the Period from Reactivation [May 8, 1999] through March 31, 2004 .. From the Beginning of Three Months Three Months Reactivation on Ended Ended May 8, 1999 through 3/31/2004 3/31/2003 March 31, 2004 --------------- --------------- --------------------- [Unaudited] [Unaudited] [Unaudited] REVENUE Income $ 0 $ 0 $ 0 --------------- --------------- --------------------- NET REVENUE 0 0 0 Operating Expenses General and Administrative 401 405 48,521 --------------- --------------- --------------------- Total Operating Expenses 401 405 48,521 --------------- --------------- --------------------- Net Income Before Taxes $ (401) $ (405) $ (48,521) =============== =============== ===================== Income/Franchise taxes 0 0 0 Net loss (401) (405) (48,521) Loss Per Share $ (0.01) $ (0.01) $ (0.02) =============== =============== ===================== Weighted Average Shares Outstanding 2,357,997 2,357,997 2,357,997 =============== =============== =====================
KENTEX PETROLEUM, INC. STATEMENTS OF CASH FLOWS For the Three Month Periods Ended March 31, 2004, 2003 and for the Period from Reactivation [May 8, 1999] through March 31, 2004 From the Beginning of Three Months Three Months Reactivation on Ended Ended May 8, 1999 through 3/31/2004 3/31/2003 March 31, 2004 -------------- -------------- ---------------------- [Unaudited] [Unaudited] [Unaudited] Cash Flows Used For Operating Activities - ------------------------------------------------------ Net Loss $ (401) $ (405) (48,521) Adjustments to reconcile net loss to net cash used in operating activities: Shares issued for services 0 0 34,660 Increase/(Decrease) in accounts payable 0 0 0 Increase/(Decrease) in Shareholder Loans 401 405 13,861 -------------- -------------- ---------------------- ---------------------- Net Cash Used For Operating Activities 0 0 0 ============== ============== ====================== Cash Flows Provided by Financing Activities - ------------------------------------------------------ Net Cash Provided by Financing Activities 0 0 0 Net Increase In Cash 0 0 0 Beginning Cash Balance 0 0 0 Ending Cash Balance $ 0 $ 0 $ 0 -------------- -------------- ----------------------
NOTES TO FINANCIAL STATEMENTS: Interim financial statements reflect all adjustments which are, in the opinion of management, necessary to a fair statement of the results for the periods. The December 31, 2003, balance sheet has been derived from the audited financial statements. These interim financial statements conform with the requirements for interim financial statements and consequently do not include all the disclosures normally required by generally accepted accounting principles. Item 2.Management's Discussion and Analysis or Plan of Operation. Plan of Operation. The Company has not engaged in any material operations in the period ending March 31, 2004, or for over the past ten years. The Company intends to continue to seek out the acquisition of assets, property or business that may be beneficial to the Company and its stockholders. The Company's only foreseeable cash requirements during the next 12 months will relate to maintaining the Company in good standing in the State of Nevada, keeping its reports "current" with the Securities and Exchange Commission or the payment of expenses associated with reviewing or investigating any potential business venture. Management does not anticipate that the Company will have to raise additional funds during the next 12 months, however, if additional moneys are needed, they may be advanced by management or principal stockholders as loans to the Company. Because the Company has not identified any such venture as of the date of this Report, it is impossible to predict the amont of any such loan. However, any such loan will not exceed $25,000 and will be on terms no less favorable to the Company than would be available from a commercial lender in an arm's length transaction. As of the date of this Report, the Company has not begun seeking any acquisition. Results of Operations. The Company has had no operations during the quarterly period ended March 31, 2004, or for over the past ten years. During the quarterly period covered by this Report, the Company received no revenue and incurred expenses of $401, stemming from general and administrative expenses. Liquidity. At March 31, 2004, the Company had total current assets of $0 and total liabilities of $13,861. Controls and Procedures. An evaluation was performed under the supervision and with the participation of the Company's management, including the President and Treasurer, regarding the effectiveness of the design and operation of the Company's disclosure controls and procedures within 90 days before the filing date of this quarterly report. Based on that evaluation, the Company's management, including the President and Treasurer, concluded that the Company's disclosure controls and procedures were effective. There have been no significant changes in the Company's internal controls or in other factors that could significantly affect internal controls subsequent to their evaluation. PART II - OTHER INFORMATION Item 1.Legal Proceedings. None; not applicable. Item 2.Changes in Securities. None; not applicable Item 3.Defaults Upon Senior Securities. None; not applicable. Item 4.Submission of Matters to a Vote of Security Holders. None; not applicable Item 5.Other Information. None; applicable Item 6.Exhibits and Reports on Form 8-K. None; not applicable (b)Reports on Form 8-K. None; Not Applicable. 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. KENTEX PETROLEUM, INC. Date: 4-26-04 By/S/ Sarah E. Jenson Sarah E. Jenson, President and Director Date: 4-26-04 By/S/ Lisa Howells Lisa Howells, Secretary, Treasurer and Director CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 I, Sarah E. Jenson, President and Director of Kentex Petroleum, Inc., certify that: 1. I have reviewed this Quarterly Report on Form 10-QSB of Kentex Petroleum, Inc. Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect ot the perod covered by this report; 3. Based on my knowledge, the financial statements, and other financial information included in this Quarterly Report, fairly present in all material respects the financial condition, results of operations and cash flows of the Registrant as of, and for, the periods presented in this Quarterly Report; 4. The Registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e) for the small business issuer and we have: a) designed such disclosure controls and procedures to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this Quarterly Report is being prepared; b) evaluated the effectiveness of the Registrant's disclosure controls and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based upon such evaluation; and c) disclosed in this report any change in the small business issuer's internal control over financial reporting that occurred during the small business issuer's most recent fiscal quarter (the small business issuer's fourth fiscal quarter in the case of an annual report) that has materialy affected, or is reasonably likely to materially affect, the small business issuer's internal control over financial reporting; and 5. The small business issuer's other certifying officer(s) and I have disclosed, based on our most recent evaluation of the internal control over financial reporting, to the small business issuer's auditors and the audit committee of the small business issuer's board of directors (or persons performing the equivalent functions): a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the small business issuer's ability to record, process, summarize and report financial information; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the small business issuer's internal control over financial reporting. Dated: 4-26-04 By/S/ Sarah E. Jenson ---------------------- Sarah E. Jenson President and Director CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 I, Lisa Howells, Secretary, Treasurer and Director of Kentex Petroleum, Inc., certify that: 1. I have reviewed this Quarterly Report on Form 10-QSB of Kentex Petroleum, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect ot the perod covered by this report; 3. Based on my knowledge, the financial statements, and other financial information included in this Quarterly Report, fairly present in all material respects the financial condition, results of operations and cash flows of the Registrant as of, and for, the periods presented in this Quarterly Report; 4. The Registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e) for the small business issuer and we have: a) designed such disclosure controls and procedures to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this Quarterly Report is being prepared; b) evaluated the effectiveness of the Registrant's disclosure controls and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based upon such evaluation; and c) disclosed in this report any change in the small business issuer's internal control over financial reporting that occurred during the small business issuer's most recent fiscal quarter (the small business issuer's fourth fiscal quarter in the case of an annual report) that has materialy affected, or is reasonably likely to materially affect, the small business issuer's internal control over financial reporting; and 5. The small business issuer's other certifying officer(s) and I have disclosed, based on our most recent evaluation of the internal control over financial reporting, to the small business issuer's auditors and the audit committee of the small business issuer's board of directors (or persons performing the equivalent functions): a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the small business issuer's ability to record, process, summarize and report financial information; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the small business issuer's internal control over financial reporting. Dated: 4-26-04 Lisa Howells ------------------ Lisa Howells Sec., Tres., and Director CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 In connection with the Quarterly report of Kentex Petroleum, Inc., (the "Company") on Form 10-QSB for the quarterly period ended March 31, 2004, as filed with the Securities and Exchange Commission on the date hereof, (the "Report"), I(We), Sarah E. Jenson, President and Director and Lisa Howells, Secretary/Treasurer and Director of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that: (1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934, and (2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company. By/S/ Sarah E. Jenson - -------------------- Sarah E. Jenson President and Director Dated this 26th day of April, 2004 By/S/ Lisa Howells - ------------------ Lisa Howells Secretary/Treasurer and Director Dates this 26th day of April, 2004 -----END PRIVACY-ENHANCED MESSAGE-----