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.
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(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.
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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
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TABLE OF CONTENTS
| Page Number |
INDEPENDENT ACCOUNTANT'S REPORT | 1 |
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FINANCIAL STATEMENTS (POST-REORGANIZATION) |
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Balance sheets | 2 |
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Income statements | 3 |
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Statement of stockholders' equity | 4 |
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Statement of cash flows | 5 |
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Notes to the Financial Statements | 6 |
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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
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CYBER MARK INTERNATIONAL CORP.
BALANCE SHEET (POST-REORGANIZATION)
SEPTEMBER 30, 2002 and DECEMBER 31, 2001
September 30, | December 31, | |||||||
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 | ||||||||
35,222 | 34,222 | |||||||
Preferred stock, authorized 3,000,000 shares at | ||||||||
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.
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CYBER MARK INTERNATIONAL CORP.
STATEMENTS OF OPERATIONS (POST-REORGANIZATION)
SEPTEMBER 30, 2002 AND DECEMBER 31, 2001
Nine months | From reorganization, | From reorganization, | |||||||
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 | |||||||||
348,890,177 | 342,223,510 | 347,223,510 | |||||||
========== | ============ | ============ |
The accompanying notes are an integral part of
these financial statements
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CYBER MARK INTERNATIONAL CORP.
STATEMENT OF STOCKHOLDERS' EQUITY (POST-REORGANIZATION)
FROM REORGANIZATION SEPTEMBER 30, 2001 TO SEPTEMBER 30, 2002
Common shares | Common Stock | Preferred Stock | Additional | Deficit | 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 |
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Issuance of 10,000,000 shares at $.0001 per share, September 30, 2001 |
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--------------- | ------------ | ------------ | -------------- | ----------------- | ------------- | |||||||||||
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, |
| 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.
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CYBER MARK INTERNATIONAL CORP.
STATEMENTS OF CASH FLOWS (POST-REORGANIZATION)
SEPTEMBER 30, 2002 AND DECEMBER 31, 2001
Nine months | From reorganization, | From reorganization, | |||||||
CASH FLOWS PROVIDED BY OPERATING ACTIVITIES | |||||||||
Net Loss | $ | (7,236) | $ | (5,102) | $ | (12,338) | |||
Non-cash items included in net loss | |||||||||
Accounts payable | (2,803) | 4,475 | 1,672 | ||||||
NET CASH PROVIDED BY | |||||||||
(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 | |||||||||
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.
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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.
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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.
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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 |
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