SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-QSB
[X]
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 2005
[ ]
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from __________________ to __________________
Commission File Number 0-28937
CIK Number 0001092794
LIGHT HOUSE PARTNERS, INC.
(Exact Name of small business issuer as specified in its charter)
Delaware
33-0619539
(State or other Jurisdiction of
I.R.S. Employer Identi-
Incorporation or Organization
fication No.)
24351 Pasto Road, #B, Dana Point, California 92629
(Address of Principal Executive Offices)
(Zip Code)
(949) 489-2400
(Issuer's Telephone Number, including Area Code)
Indicate by check mark whether the Registrant (i) 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 (of for such shorter period that the Registrant was required to file such reports) and (ii) 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 equity, as of the latest practicable date.
Common Stock, $.001 par value
1,000,000
Title of Class
Number of Shares outstanding
at March 31, 2005
Transitional Small Business Format Yes No X
No exhibits included.
LIGHT HOUSE PARTNERS, INC.
(A Company in the Development Stage)
BALANCE SHEETS
ASSETS
June 30,
March 31,
2004
2005
TOTAL CURRENT ASSETS
$
$
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable
$
720
$
720
Accounts payable - related party
3,665
3,665
TOTAL LIABILITIES
$4,385
$
4,385
STOCKHOLDERS' EQUITY (DEFICIT)
Preferred Stock, $.001 par value; 1,000,000 shares
authorized; no shares issued and outstanding
Common Stock, $.001 par value; 20,000,000 shares
authorized; 1,000,000 shares issued and outstanding
1,000
1,000
Capital in excess of par value
15
15
Deficit accumulated during the development stage
(5,400)
(5,400)
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)
(4,385)
(4,385)
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY (DEFICIT)
$
$
The accompanying notes are an integral part of the financial statements.
LIGHT HOUSE PARTNERS, INC.
(A Company in the Development Stage)
STATEMENTS OF OPERATIONS
CUMULATIVE
FOR THE THREE
FOR THE NINE
FROM INCEPTION
MONTHS ENDED
MONTHS ENDED
(April 20, 1994)
March 31,
March 31,
TO
2004
2005
2004
2005
March 31, 2005
REVENUES
$
-0-
$
-0-
$
-0-
$
-0-
$
-0-
OPERATING EXPENSES
General and Administrative
5,400
TOTAL OPERATING EXPENSES
5,400
NET (LOSS)
$
(5,400)
NET (LOSS) PER SHARE
$
$
$
$
$
(.00)
WEIGHTED AVERAGE NUMBER
OF SHARES OUTSTANDING
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
See accompanying Notes to Financial Statements.
LIGHT HOUSE PARTNERS, INC.
(A Company in the Development Stage)
STATEMENTS OF CASH FLOWS
CUMULATIVE
FOR THE SIX
FROM INCEPTION
MONTHS ENDED
(April 20, 1994)
March 31,
TO
2004
2005
March 31, 2005
CASH FLOWS FROM OPERATING
ACTIVITIES
Net (Loss)
$
$
$
(5,400)
Add item not requiring the
use of cash - amortization
1,015
Increase (decrease) in accounts
payable
4,385
Net cash flows from operating
activities
CASH FLOWS FROM INVESTING ACTIVITIES
Organizational Costs
(1,015)
CASH FLOWS FROM FINANCING
ACTIVITIES
Sale of Common Stock
1,015
Net Cash flows from financing
activities
1,015
NET INCREASE (DECREASE) IN CASH
CASH BALANCE AT BEGINNING
OF PERIOD
CASH BALANCE AT END OF
PERIOD
$
$
$
See accompanying Notes to Financial Statements.
LIGHT HOUSE PARTNERS, INC.
(A Company in the Development Stage)
NOTES TO CONDENSED FINANCIAL STATEMENTS
(UNAUDITED)
March 31, 2005
1.
Comments
NOTE 1B CONDENSED FINANCIAL STATEMENTS
The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows at March 31, 2005 and 2004 and for the periods then ended have been made.
Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the company’s June 30, 2004 financial statements. The results of operations for the periods ended March 31, 2005 and 2004 are not necessarily indicative of the results of operations to be expected for the full fiscal year.
NOTE 2 - RELATED PARTY TRANSACTIONS
Accounts Payable - Related Party -The Company owes a total of $3,665 to an officer/shareholder for expenses paid on behalf of the company since inception.
NOTE 3 - GOING CONCERN
The accompanying financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern. However, the Company has incurred losses since its inception and has not yet been successful in establishing profitable operations. Further, the Company has current liabilities in excess of current assets. These factors raise substantial doubt about the ability of the Company to continue as a going concern. In this regard, management is proposing to raise any necessary additional funds not provided by operations through loans or through additional sales of its common stock or through a possible business combination with another company. There is no assurance that the Company will be successful in raising this additional capital or achieving profitable operations. The financi al statements do not include any adjustments that might result from the outcome of these uncertainties.
Item 2.
MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION
The Company has limited working capital and no activities.
Item 3.Controls and Procedures.
(a) Evaluation of disclosure controls and procedures. The Company’s principal executive officer and its principal financial officer, based on their evaluation of the Company’s disclosure controls and procedures (as defined in Exchange Act Rules 13a-14(c) and 15d -14 (c) as of a date within 90 days prior to the filing of this Quarterly Report on Form 10Q, have concluded that the Company’s disclosure controls and procedures are adequate and effective for the purposes set forth in the definition in Exchange Act rules.
(b) Changes in internal controls. There were no significant changes in the Company’s internal controls or in other factors that could significantly affect the Company’s internal controls subsequent to the date of their evaluation.
PART II. OTHER INFORMATION
Item 1.
LEGAL PROCEEDINGS - None
Item 2.
CHANGES IN SECURITIES - None
Item 3.
DEFAULTS UPON SENIOR SECURITIES - None
Item 4.
SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS - None
Item 5.
OTHER INFORMATION - None
Item 6.
EXHIBITS
Exhibits--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 thereunto duly authorized.
LIGHT HOUSE PARTNERS, INC.
Date:
September 14, 2005
By:/s/ Jehu Hand
Jehu Hand,
President and Chief Financial
Officer (chief financial officer
and accounting officer and duly
authorized officer)
