United States
Securities and Exchange Commission
Washington, DC 20549
FORM 10Q SB/A
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15 (d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2002
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15 (d) OF THE
EXCHANGE ACT
Commission file Number 0 - 32445
THE MADONNA CORPORATION
Exact name of small business issuer as specified in its charter
Colorado 98 - 0219214
(State or other jurisdiction of
I.R.S. Employer
incorporation or organization)
Identification Number
3215 MATHERS AVENUE, WEST VANCOUVER, BC V8K 2R2 CANADA
(Address of principal executive office)
(604) 913-8355
Issuer's telephone number
NA
(Former name, former address and former fiscal year, if changed since last report)
APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDINGS DURING THE PAST FIVE YEARS
Check whether the registrant filed all documents and reports required
To be filed by Section 12, 13 or 15 (d) of the Exchange Act after the distribution of
Securities under a plan confirmed by a court. Yes ____ No ____
APPLICABLE ONLY TO CORPORATE ISSUERS
State the number of shares outstanding of each of the Issuer's
common equity as of the last practicable date: 560,000 shares
Transitional Small Business Disclosure Format (check one) Yes ___ No X
#
PART I
FINANCIAL INFORMATION
Item 1.
Financial Statements.
The financial statements for the quarter ended September 30, 2002 follow.
THE MADONNA CORPORATION
(A DEVELOPMENT STAGE ENTERPRISE)
BALANCE SHEETS
AS AT SEPTEMBER 30, 2002 AND AUDITED AS JUNE 30, 2002
(PREPARED BY MANAGEMENT)
AUDITED &n bsp; SEPTEMBER 30 AS AT
2002
JUNE 30, 2002
ASSETS
CURRENT ASSETS:
$ 0
$ 0
TOTAL ASSETS
0
0
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
DUE TO RELATED PARTY
702
615
STOCKHOLDERS' EQUITY:
COMMON STOCK, $0.001 PAR
VALUE; 100,000,000 SHARES
AUTHORIZEDAND 565,000 SHARES
ISSUED AND OUTSTANDING
565
560
PREFERRED STOCK, $0.001 PAR
VALUE - 10,000,000 AUTHORIZED
NONE ISSUED AND OUTSTANDING
ADDITIONAL PAID-IN CAPITAL
1,235
1,140
(DEFICIT) ACCUMULATED DURING
THE DEVELOPMENT STAGE
(2,502)
(2,315)
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)
( 702)
( 615)
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY
$ 0
$ 0
SEE ACCOMPANYING NOTES
THE MADONNA CORPORATION
(A DEVELOPMENT STAGE ENTERPRISE)
STATEMENTS OF OPERATIONS
FOR THE THREE MONTH PERIODS
ENDED SEPTEMBER 30, 2002 AND 2001
AND FOR THE CUMULATIVE PERIOD JANUARY 19, 2000
THROUGH SEPTEMBER 30, 2002
(PREPARED BY MANAGEMENT)
INCEPTION
THROUGH
2002
2001
SEPTEMBER 30, 2002
REVENUES:
$ 0
$ 0
$ 0
OPERATING EXPENSES AND FILING FEES 187
23
2,287
TOTAL OPERATING EXPENSES
187
23
2,287
NET (LOSS) FOR THE PERIOD
$ ( 187)
$ ( 23)
$ 2,287
NET (LOSS) PER SHARE
$ (0.00)
$ (0.00) $ 0.00
WEIGHTED AVERAGE NUMBER OF
COMMON SHARES OUTSTANDING
560,000 560,000
560,000
SEE ACCOMPANYING NOTES
THE MADONNA CORPORATION
(A DEVELOPMENT STAGE ENTERPRISE)
STATEMENTS OF CASH FLOWS
FOR THE THREE MONTH PERIODS
ENDED SEPTEMBER 30, 2002 AND 2001
AND THE CUMULATIVE PERIOD JANUARY 19, 2000 (INCEPTION)
THROUGH SEPTEMBER 30, 2002
(PREPARED BY MANAGEMENT)
2002
2001
SEPTEMBER 30,2002
CASH FLOWS FROM (BY)
OPERATING ACTIVITIES:
NET INCOME (LOSS) FOR THE PERIOD
$ ( 187)
$ ( 68)
$ ( 2,502)
NON CASH WORKING CAPITAL ITEMS
NET INCREASE IN ACCOUNTS PAYABLE
87
0
702
CASH FLOWS FROM INVESTING ACTIVITIES:
0
0
0
CASH FLOWS FROM (TO)
FINANCING ACTIVITIES:
100
0
1,800
INCREASE (DECREASE) IN
CASH FOR THE PERIOD
( 100) ( 68)
( 0)
CASH, BEGINNING OF PERIOD
100
103
0
CASH, END OF PERIOD
$ 0 $ 35
$ 0
SEE ACCOMPANYING NOTES
NOTES TO UNAUDITED FINANCIAL STATEMENTS
(PREPARED BY MANAGEMENT)
NOTE 1 - BASIS OF PRESENTATION
The accompanying financial statements have been prepared in accordance with US Securities and Exchange Commission ("SEC") requirements for interim financial statements. Therefore, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. The financial statements should be read in conjunction with the year ended June 30, 2002 financial statements of The Madonna Corporation ("Registrant") as contained in the Form 10K SB filed with the commission.
The results of operations for the interim period shown in this report are not necessarily indicative of the results to be expected for the full year. In the opinion of management, the information contained herein reflects all adjustments necessary to make the results of operations for the interim periods a fair statement of such operation. All such adjustments are of a normal recurring nature.
NOTE 3 – CHANGES IN ISSUED AND OUTSTANDING STOCK
On July 3, 2002 the registrant issued an additional 5,000 shares of its common stock bringing the issued and outstanding total to 565,000 common shares
NOTE 3 – DUE TO RELATED PARTY
A related party has advanced the sum of $702 on behalf of the registrant. There is no interest or set terms of repayment.
Item 2.
Management’sDiscussion and Analysis or Plan of Operation.
The Company’s business plan is to seek, investigate, and, if warranted, acquire one or more properties or businesses, and to pursue other related activities intended to enhance shareholder value. The acquisition of a business opportunity may be made by purchase, merger, exchange of stock, or otherwise, and may encompass assets or a business entity, such as a corporation, joint venture, or partnership. The Company has very limited capital, and it is unlikely that the Company will be able to take advantage of more than one such business opportunity.
The Company intends to seek opportunities demonstrating the potential of long-term growth as opposed to short-term earnings. At the present time the Company has not identified any business opportunity that it plans to pursue, nor has the Company reached any agreement or definitive understanding with any person concerning an acquisition.
Liquidity and Capital Resources
The Madonna Corporation remains in the development stage and, since inception, has experienced some small expenses for the preparation of financial statements and periodic reports as required by the Securities Exchange Act of 1934. Consequently, our balance sheet for the period ending March 31, 2002 reflects current assets of $ 0 in the form of cash, and total assets of $ 0.
The Madonna Corporation will carry out its plan of business as discussed above. We cannot predict to what extent liquidity and capital resources will be diminished prior to the consummation of a business combination.
We believe that our existing capital will not be sufficient to meet our cash needs, including the costs of compliance with the continuing reporting requirements of the Securities Exchange Act. A related party has advanced the sum of $802 to pay for the preparation and filing of required reports. There is no assurance, however, that funds will be available funds will ultimately prove to be adequate to allow it to complete a business combination, and once a business combination is completed, the Company's needs for additional financing are likely to increase substantially.
No commitments to provide additional funds have been made by management or other stockholders. Accordingly, there can be no assurance that any additional funds will be available.
Irrespective of whether the cash assets prove to be inadequate to meet operational needs, the Company might seek to compensate providers of services by issuances of stock in lieu of cash.
PART II
OTHER INFORMATION
Item 1.
Legal Proceedings
None
Item
2.
Changes in Securities
None
Item 3.
Defaults Upon Senior Securities
Not Applicable
Item 4.
Submission of Matters to a Vote of Securities Holders
None
Item 6.
Exhibits and Reports on Form 8K
Exhibit 99.1
Certification pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 302 and 906 of the Sarbanes-Oxley Act of 2002.
Exhibit 99.2
Certification pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 302 and 906 of the Sarbanes-Oxley Act of 2002.
Exhibit 99.3
Controls And Procedures
Ex hibit 99.4
Certifications Of CEO And CFO Pursuant To Section 906 Of The Sarbanes-Oxley Act
The Company filed a Form 8K on
SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
THE MADONNA CORPORATION
Dated May 10, 2004
/S/ Inge L. E. Kerster
Inge L. E. Kerster, President and Director
