-----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, KyBmrVyNEHPmW8gKkuQ7KUsDGu4hgFBoVeeYt//AMDjmkWPaWGXQ3xgv+ZYheZfF ld+9k6COuxqjkh2BDMQTxQ== 0000855684-97-000001.txt : 19970502 0000855684-97-000001.hdr.sgml : 19970502 ACCESSION NUMBER: 0000855684-97-000001 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19961231 FILED AS OF DATE: 19970214 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: LAHAINA ACQUISITIONS INC CENTRAL INDEX KEY: 0000855684 STANDARD INDUSTRIAL CLASSIFICATION: 6770 IRS NUMBER: 841325695 STATE OF INCORPORATION: CO FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-27480 FILM NUMBER: 97533178 BUSINESS ADDRESS: STREET 1: 5459 SOUTH IRIS STREET STREET 2: SUITE 2-102 CITY: LITTLETON STATE: C0 ZIP: 80123 BUSINESS PHONE: (303) 904-8884 MAIL ADDRESS: STREET 1: 5459 SOUTH IRIS STREET STREET 2: SUITE 2-102 CITY: LITTLETON STATE: CO ZIP: 80123 10-Q 1 1 ================================================================= SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 __________________________________ FORM 10-Q [ x ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 1996. [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: ------------------------------ Commission file number 0-27480 ------------------------------ LAHAINA ACQUISITIONS, INC. (Exact name of Registrant as specified in its charter.) COLORADO 88-0338315 (State of other jurisdiction of (IRS Employer incorporation or organization) Identification No.) 5459 South Iris Street Littleton, Colorado 80123 (Address of principal executive offices including zip code.) (303) 986-6923 (Registrant's telephone number, including area code.) Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or l5(d) of the Securities 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 The number of shares outstanding of the Registrant's Common Stock, no par value per share, at January 1, 1997 was 996,500 shares. ================================================================= 2 PART I. ITEM 1. FINANCIAL STATEMENTS. LAHAINA ACQUISITIONS, INC. INTERIM OPERATING RESULTS (unaudited) 3 LAHAINA ACQUISITIONS, INC. BALANCE SHEET ASSETS December 31, 1996 September (Unaudited) 30, 1996 [S] [C] [C] Organization costs $ 600 $ 600 ====== ====== LIABILITIES AND STOCKHOLDERS EQUITY Liabilities Accrued expenses $ 1,260 $ - Loan payable to officer 2,982 2,982 ------ ------ 4,242 2,982 Stockholders equity Common stock, 800,000,000 shares authorized no par value; 996,500 shares issued and outstanding (Note A) 300 300 Preferred stock, 10,000,000 authorized, no par value -0- -0- Paid in capital 300 300 Accumulated deficit (4,242) (2,982) ------ ------ Total $ 600 $ 600 ====== ====== See accompanying notes to the financial statements. F-1 4 LAHAINA ACQUISITIONS, INC. STATEMENT OF OPERATIONS (Unaudited) Three Months Ended December 31, 1996 1995 [S] [C] [C] Revenues $ -0- $ - - -0- Expenses Legal and accounting fees 1,260 450 ------- - - ----- Net Income (Loss) $ (1,260) $ (450) ======= ===== See accompanying notes to the financial statements. F-2 5 LAHAINA ACQUISITIONS, INC. STATEMENT OF CASH FLOWS (Unaudited) Three Months Ended December 31, 1996 1995 [S] [C] [C] Cash flows from operations: Net income (loss) $ (1,260) $ (450) Increase in accrued expenses 1,260 -0- ------- ----- Net cash (used) from operating activities: $ -0- $ (450) ======= ===== Cash flows from investing activities: $ -0- $ -0- ------- ----- Net cash (used) by investing activities: $ -0- $ -0- ======= ===== Cash flows from financing activities: Loan - officer $ -0- $ 450 ------- ----- Net cash (used) by financing activities: $ -0- $ 450 ======= ===== Beginning cash balance -0- -0- Ending cash balance -0- -0- See accompanying notes to the financial statements. F-3 6 LAHAINA ACQUISITIONS, INC. NOTES TO FINANCIAL STATEMENTS December 31, 1996 Note A - Summary of Significant Accounting Policies ORGANIZATION Lahaina Acquisitions, Inc. was incorporated under the laws of the State of Colorado in April 1989. The Company is in the development stage and has had no operations. The Company is in the development stage as more fully defined in Statement No. 7 of the Financial Accounting Standards Board. The Company intends to actively seek, locate, evaluate, structure and complete mergers with or acquisitions of private companies, partnerships or sole proprietorships. In September 1989, the Company filed a Registration Statement with the United States Securities and Exchange Commission to register 100,000 Units of its securities sold to Coyote Acquisitions, Inc. Each Unit consists of one share of Common Stock, five A Warrants and five B Warrants. In April 1991, the Company cancelled the 100,000 Units of its securities issued to Coyote Acquisitions, Inc. since the Securities and Exchange Commission failed to clear the Registration Statement. In May 1991, the Company distributed 496,500 Units of its securities under the provisions of Regulation D, Rule 504 on a pro rata basis to the shareholders of St. Joseph Corp. Each Unit consists of: 1 Share of common no par stock 2 Class A common stock purchase warrants 2 Class B common stock purchase warrants Each Class A warrant entitles the holder to purchase one share of common stock at $1.00 per share. Each Class B warrant entitles the holder to purchase one share of common stock at $1.50 per share. These common stock purchase warrants expire May 10, 1999. The Company has the right to redeem the warrant upon 30 days written notice at $.0001 per share. F-4 7 LAHAINA ACQUISITIONS, INC. NOTES TO FINANCIAL STATEMENTS December 31, 1996 Note A - Summary of Significant Accounting Policies ORGANIZATION (continued) Professional fees of $450 were incurred in December 1995 for the audit for the years ending September 30, 1995, 1994, 1993, 1992, 1991 and 1990. This expense was paid by the President of the Company. Additional accounting fees of $1,279 were incurred in May 1996 and were paid by the President of the Company. Legal fees of $1,253 were incurred during March and June 1996 and were paid by the President of the Company. ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULT OF OPERATIONS. Results of Operations - Inception (April 5, 1989) through December 31, 1996. The Registrant is considered to be in the development stage as defined in Statement of Financial Accounting Standards No. 7. There have been no operations since incorporation. Liquidity and Capital Resources. The Registrant has no cash as of December 31, 1996. There have been no material changes in the Registrant's results of operations, since filing its Form 10-K with the Securities and Exchange Commission on December 27, 1996. Said Form 10-K is incorporated herein by reference. 8 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. Dated on this 10th day of February, 1997. LAHAINA ACQUISITIONS, INC. (the "Registrant") BY: /s/ Philip J. Davis, President and a member of the Board of Directors BY: /s/ Charles C. Van Gundy, Treasurer, Chief Financial Officer, Principal Accounting Officer and a member of the Board of Directors EX-27 2
5 This schedule contains summary financial information extracted from the Statement of Financial Condition at December 31, 1996 (Unaudited) and the Statement of Income for the three months ended December 31, 1996 (Unaudited) and is qualified in its entirety by reference to such financial statements. 3-MOS DEC-31-1996 SEP-30-1996 600 0 0 0 0 600 0 0 600 4,242 0 0 0 600 0 4,842 0 0 0 0 0 0 0 (4,242) 0 0 0 0 0 (4,242) 0 0
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