-----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, CuVJnm3mKMv5gyC9yMsUmNkVfODpUvkn8Q2HCP9QIt0ep0L2Ko1HJz75aEV+c2XL 6KQXCV0tA4myupFRPgFV1g== 0000013033-01-500003.txt : 20010917 0000013033-01-500003.hdr.sgml : 20010917 ACCESSION NUMBER: 0000013033-01-500003 CONFORMED SUBMISSION TYPE: 10QSB PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20010731 FILED AS OF DATE: 20010914 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CAMELOT CORP CENTRAL INDEX KEY: 0000013033 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 840691531 STATE OF INCORPORATION: CO FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 10QSB SEC ACT: 1934 Act SEC FILE NUMBER: 000-08299 FILM NUMBER: 1737290 BUSINESS ADDRESS: STREET 1: PMB 249 STREET 2: 6757 ARAPAHO RD. STE. 711 CITY: DALLAS STATE: TX ZIP: 75248 BUSINESS PHONE: (972)458-1767 MAIL ADDRESS: STREET 1: PMB 249 STREET 2: 6757 ARAPAHO RD., STE. 711 CITY: DALLAS STATE: TX ZIP: 75248 FORMER COMPANY: FORMER CONFORMED NAME: BOLYARD OIL & GAS LTD DATE OF NAME CHANGE: 19890824 10QSB 1 cq0701no1.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-QSB QUARTERLY REPORT UNDER SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For Quarter ended July 31, 2001 Commission File No. 0-8299 CAMELOT CORPORATION (Exact Name of Registrant as Specified in its Charter) Colorado 84-0691531 (State of other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) PMB 249 6757 Arapaho, Suite 711, Dallas, Texas 75248 (Address of principal executive office) (Zip Code) (Former Address of principal executive office) (Zip Code) Registrant's telephone number, including area code:(972) 458-1767 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 Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the close of the period covered by this report. Shares outstanding at Class July 31, 2001 Common stock, $0.01 par value 6,293,740 CAMELOT CORPORATION AND SUBSIDIARIES I N D E X Page No. Part I FINANCIAL INFORMATION (UNAUDITED): Item 1. Consolidated Balance Sheets 3 Consolidated Statements of Operations 5 Consolidated Statements of Cash Flows 6 Notes to Consolidated Financial Statements 7 Items 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 7 Part II OTHER INFORMATION 9 CAMELOT CORPORATION AND SUBSIDIARIES PART I: FINANCIAL INFORMATION ITEM 1. Financial Statements CONSOLIDATED BALANCE SHEETS ASSETS July 31, 2001 April 30, 2001 (Unaudited) (Audited) CURRENT ASSETS Cash and cash equivalents $ 1,082 $ 1,288 Total current assets $ 1,082 $ 1,288 $ 1,082 $ 1,288 LIABILITIES AND STOCKHOLDERS' EQUITY July 31, 2001 April 30, 2001 (Unaudited) (Audited) CURRENT LIABILITIES Accounts payable $ 1,186 $ 1,186 Total current liabilities 1,186 1,186 STOCKHOLDERS' EQUITY Common stock, $.01 par value, 50,000,000 shares authorized, 6,293,740 shares issued at July 31, 2001 and 6,293,740 at April 30, 2001 62,937 62,937 Preferred stock, $.01 par value, 100,000,000 shares authorized, 1,345,305 shares issued and outstanding at July 31, 2001 and April 30, 2001 13,453 13,453 Additional paid-in capital 35,597,921 35,597,921 Accumulated deficit (32,837,718) (32,837,512) Less: treasury stock, at cost, 29,245 shares at July 31, 2001 and April 30, 2001 (2,836,697) (2,836,697) Total stockholders' equity 104 102 $ 1,082 $ 1,288
See accompanying notes to these consolidated financial statements. CAMELOT CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Three Months Ended July 31, 2001 2000 REVENUE $ - $ - COST OF SALES - - GROSS PROFIT (LOSS) - - OPERATING EXPENSES: General and administrative 206 - Depreciation and amortization - - Provision for Inventory E & O - - - - LOSS FROM OPERATIONS (206) - OTHER INCOME (EXPENSES): Interest expense - - Interest income - - Dividend income - affiliate - - Gain (Loss) on disposition of assets - - Total other income (expense) - - INCOME (LOSS) FROM CONTINUING OPERATIONS - - DISCONTINUED OPERATIONS: Loss on disposal - - NET INCOME (LOSS) - - DIVIDENDS ON PREFERRED STOCK - - NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ - $ - INCOME (LOSS) PER SHARE: Income (loss) from continuing operations $ * $ * Loss from discontinued operations * * Dividends on preferred stock * * NET INCOME (LOSS) PER COMMON SHARE $ * $ * WEIGHTED AVERAGE OF COMMON STOCK OUTSTANDING 6,293,740 6,293,740
See accompanying notes to these consolidated financial statements. CAMELOT CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) Three Months Ended July 31, 2001 2000 CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ - $ - ADJUSTMENTS TO RECONCILE NET GAIN (LOSS) TO NET CASH FROM OPERATING ACTIVITIES: (Gain) loss on disposal of assets - - Provision for inventory obsolescence - - Change in assets and liabilities Accounts and accrued receivables - - Cancellation of note receivable plus accrued interest for surrender of treasury stock - - Accounts payable and accrued expenses (206) (1,598) Net cash used by operating activities (206) (1,598) CASH FLOW FROM INVESTING ACTIVITIES: Net cash used by investing activities - - CASH FLOW FROM FINANCING ACTIVITIES: Dividends on preferred stock - - Purchase of Treasury Stock Cash provided by financing activities - - NET INCREASE (DECREASE) IN CASH (206) (1,598) CASH AT BEGINNING OF PERIOD 1,288 3,755 CASH AT END OF PERIOD $ 1,082 $ 2,157
See accompanying notes to these consolidated financial statements. CAMELOT CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) ITEM 1. Financial Statements and Principles of Consolidation The accompanying condensed consolidated financial statements have been prepared in accordance with the instruction to Form 10-Q, and do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. These statements should be read in conjunction with the audited financial statements and notes thereto included in the Registrant's annual Form 10-K filing for the year ended April 30, 2001. ITEM 2. Management Discussion and Analysis of Financial Condition and Results of Operations The Company's revenue for the quarter ended July 31, 2001 was $0 compared with $0 in the comparable quarter of 2000. Net loss for the three month period was $0 compared with a loss for the previous year of $0. The Company is now inactive. Liquidity and Capital Resources Net cash used by operating activities for the period was $206 compared with $1,598 in 2000. Net cash used by financing activities was $0 compared with $0 provided in 2000. Cash of $1,086 compares with $1,1288 at April 30, 2001. The Company does not have any plans for capital expenditures. The Company has negligible cash resources and will experience liquidity problems over the next twelve months due to its lack of revenue unless it is able to raise funds from outside sources. There are no known trends, demands, commitments, or events that would result in or that is reasonably likely to result in the Company's liquidity increasing or decreasing in a material way. PART II - OTHER INFORMATION Item 4. Submission of Matters to a Vote of Security Holders NONE Item 5. Exhibits and Reports on Form 8-K. (a) Exhibits: 3(1) Articles of Incorporation: Incorporated by reference to Registration Statement filed on Form 10, June 23, 1976. 3(2) Bylaws: Incorporated by reference as immediately above. (10) 1991 Incentive Stock Option Plan: Incorporated by reference to proxy statement for 1991. (b) Reports on Form 8-K: NONE 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 thereto duly authorized. CAMELOT CORPORATION (Registrant) By: /s/ Daniel Wettreich DANIEL WETTREICH, President Treasurer and Principal Financial Officer Date: September 13, 2001 -----END PRIVACY-ENHANCED MESSAGE-----