-----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, FDl1wCGH4jZSjU3rbFbfAWH/9OAjrqOoN/HnmMOg3ba6m6E+zwP/TBu86YIpVm6k 7/0x8Cikjtyv+iwIF0JF4w== 0000912057-97-011818.txt : 19970404 0000912057-97-011818.hdr.sgml : 19970404 ACCESSION NUMBER: 0000912057-97-011818 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19910930 FILED AS OF DATE: 19970403 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: XANTHIC ENTERPRISES INC CENTRAL INDEX KEY: 0000824430 STANDARD INDUSTRIAL CLASSIFICATION: BLANK CHECKS [6770] IRS NUMBER: 943030021 STATE OF INCORPORATION: CO FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 033-17966-LA FILM NUMBER: 97574046 BUSINESS ADDRESS: STREET 1: 8833 SUNSET BLVD STREET 2: SUITE 200 CITY: W HOLLYWOOD STATE: CA ZIP: 90069 BUSINESS PHONE: 3102894947 MAIL ADDRESS: STREET 1: 8833 SUNSET BLVD STREET 2: SUITE 200 CITY: W HOLLYWOOD STATE: CA ZIP: 90069 10-Q 1 FORM 10-Q U.S. SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 1991 COMMISSION FILE NO. 33-17966-LA XANTHIC ENTERPRISES, INC. A Colorado Corporation EIN: 94-3030021 9028 Sunset Blvd., Penthouse Suite Los Angeles, CA 90069 Telephone: 310-289-4947 Securities registered under Section 12(g) of the Exchange Act: Common Shares and Series A and Series B Common Stock Purchase Warrants The registrant has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months or such shorter period for which such reports were required. The Company's Form 10-K for the fiscal year ended December 31, 1990 was filed late. The number of common shares issued and outstanding as of June 30, 1991 was 5,481,826. This report form is not filed as a transitional format. PART I - FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS. The Company's unaudited financial statements for the third quarter of 1991 are at the end of this report. ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF PLAN OF OPERATION. (1) LIQUIDITY. The Company has no cash assets and no liquidity. (2) CAPITAL RESOURCES. The Company has no capital resources. (3) RESULTS OF OPERATIONS. The Company has not operated during the past fiscal year and there are no results of operations. PART II - OTHER INFORMATION ITEM 1. LEGAL PROCEEDINGS There are no legal proceedings in which the Company is engaged. 1 ITEM 2. CHANGES IN SECURITIES There have been no changes in the rights, preferences or privileges of any security of the Company during the third quarter of 1991. ITEM 3. DEFAULTS UPON SENIOR SECURITIES There has been no default on any security during the third quarter of 1991. ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS No matters have been submitted to a vote of security holders during the third quarter of 1991. ITEM 5. OTHER INFORMATION N/A ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K During the third quarter of 1991 the Company filed no reports on Form 8-K. FINANCIAL STATEMENTS. The Company's unaudited financial statements for the period ending September 30, 1991 follow this page. 2 XANTHIC ENTERPRISES, INC. (A DEVELOPMENT STAGE COMPANY) BALANCE SHEETS September 30, December 31, -------------------- 1990 1991 1990 ------------ ------- ------- (Audited) (Unaudited) ASSETS CURRENT ASSETS: Cash $ - $ - $ - ------- ------- ------- $ - $ - $ - ------- ------- ------- ------- ------- ------- LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) CURRENT LIABILITIES: Accounts payable $ 2,999 $ 4,828 $ 2,242 STOCKHOLDERS' EQUITY Common stock - $.0001 par, 50,000,000 shares authorized, 5,481,826 issued and outstanding 548 548 548 Paid in capital 11,651 11,651 11,651 Retained deficit (15,198) (17,027) (14,441) ------- ------- ------- TOTAL STOCKHOLDERS' EQUITY (DEFICIT) (2,999) (4,828) (2,242) ------- ------- ------- $ - $ - $ - ------- ------- ------- ------- ------- ------- 3 XANTHIC ENTERPRISES, INC. (A DEVELOPMENT STAGE COMPANY) STATEMENT OF OPERATIONS
For the Three Months For the Nine Months October 27, 1986 For the ending September 30, ending September 30, date of inception year ending -------------------- ---------------------- to December 31, 1990 1991 1990 1991 1990 September 30, 1991 ----------------- --------- --------- --------- ------- ------------------ (Audited) (Unaudited) (Unaudited) (Unaudited) REVENUES $ - $ - $ - $ - $ - $ - --------- --------- --------- --------- --------- ------------ OPERATING EXPENSES: General and administrative 1,162 322 298 966 864 12,812 --------- --------- --------- --------- --------- ------------ Loss from operations (1,162) (322) (298) (966) (864) (12,812) OTHER INCOME (EXPENSES) Interest expense (1,837) (288) (459) (863) (1,378) (4,200) Aborted offering costs - - - - - (17,066) Debt relief - - - - - 17,051 --------- --------- --------- --------- --------- ------------ TOTAL OTHER INCOME (EXPENSES) (1,837) (288) (459) (863) (1,378) (4,215) --------- --------- --------- --------- --------- ------------ NET LOSS $(2,999) $(610) $(757) $(1,829) $(2,242) $ (17,077) --------- --------- --------- --------- --------- ------------ --------- --------- --------- --------- --------- ------------ NET LOSS PER COMMON SHARE $(.0005) $(.0001) $(.0001) $(.0003) $(.0004) $ (.003) --------- --------- --------- --------- --------- ------------ --------- --------- --------- --------- --------- ------------ WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING 5,481,826 5,481,826 5,481,826 5,481,826 5,481,826 $ 481,826 --------- --------- --------- --------- --------- ------------ --------- --------- --------- --------- --------- ------------
4 XANTHIC ENTERPRISES, INC. (A DEVELOPMENT STAGE COMPANY) STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT)
Accumulated Common Stock deficit during ------------ Paid in development Shares Amount Capital stage Total --------- -------- --------- --------------- ------- BALANCE, DECEMBER 31, 1989 5,481,826 $ 548 $ 11,651 $ (12,199) $ - --------- ------ -------- ---------- ------- Net loss for year - - - (2,999) (2,999) --------- ------ -------- ---------- ------- BALANCE, DECEMBER 31, 1990 5,481,826 $ 548 $ 11,651 $ (15,198) $(2,999) --------- ------ -------- ---------- ------- Net loss for period - - - (1,829) (1,829) --------- ------ -------- ---------- ------- BALANCE, SEPTEMBER 30, 1991 5,481,826 $ 548 $ 11,651 $ (17,027) $(4,828) --------- ------ -------- ---------- ------- --------- ------ -------- ---------- -------
5 XANTHIC ENTERPRISES, INC. (A DEVELOPMENT STAGE COMPANY) STATEMENT OF CASH FLOWS
For the year For the Nine months October 27, 1986 ending December 31, ending September 30, (Date of inception) ------------------- ------------------------- to 1990 1991 1990 September 30, 1991 ----- ---- ---- ------------------ (Audited) (Unaudited) (Unaudited) CASH FLOWS FROM OPERATING ACTIVITIES Net income (loss) $ (2,999) $(1,829) $ (2,242) $ (17,027) Adjustments to reconcile net income to net cash provided by (used in) operating activities: Common stock issued for services - - - 31 Changes in operating assets and liabilities: Accounts payable 2,999 1,829 2,242 4,828 -------- ------- -------- ---------- NET CASH USED IN OPERATING ACTIVITIES - - - (12,168) -------- ------- -------- ---------- CASH FLOWS FROM FINANCING ACTIVITIES - - - 12,168 -------- ------- -------- ---------- NET CASH PROVIDED BY FINANCING ACTIVITIES Sale of common stock - - - 12,168 -------- ------- -------- ---------- NET INCREASE (DECREASE) IN CASH - - - - CASH, BEGINNING OF PERIOD - - - - -------- ------- -------- ---------- CASH, END OF PERIOD $ - $ - $ - $ - -------- ------- -------- ---------- -------- ------- -------- ----------
6 SIGNATURE In accordance with Section 13 or 15(d) of the Securities Exchange Act of 1934, this registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. XANTHIC ENTERPRISES, INC. Dated: 4/2/97 --------------------------------- By: /s/ Mark A. Lilly ------------------------------------- Mark A. Lilly, President, Director and Chief Financial Officer 7 -----END PRIVACY-ENHANCED MESSAGE-----