U.S. Securities and Exchange Commission
Washington, D.C. 20549
Form 8-K/A
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Amended Report: September 2, 2002
VISTA CONTINENTAL CORPORATION
(formerly known as Century laboratories, Inc.)
COMMISSION FILE NO. 2-90519
A Delaware Corporation EIN: 72-0510027
851 S. Rampart Blvd. # 150
Las Vegas, NV 89145
Telephone 702-228-2077
Former Address:
730 2nd St.
Santa Rosa, Calif. 95402-3588
Item 7. Financial Statements and Exhibit
VISTA CONTINENTAL CORPORATION
(A Development Stage Company)
CONSOLIDATED BALANCE SHEET
As of March 31, 2002
(Restated)
ASSETS
Cash $ 3,981
Prepaid rent 10,782
Property & equipment, net of
$ 7,390 accumulated depreciation 927,111
Rental houses in Las Vegas, NV, net of
$ 14,254 accumulated deprecation 1,253,246
Mining concessions 99,275
Deposits 500
----------
$2,294,895
===========
LIABILITIES
Accounts payable $ 4,949
Advance payable to an officer 100
Tenant security deposits 4,695
--------
Total Liabilities 9,744
--------
Minority interest 12,362
Commitments
STOCKHOLDERS' DEFICIT
Common stock, $.001 par, 75,000,000 shares
authorized, 40,137,355 shares issued and
outstanding 39,837
Additional paid in capital 3,687,095
Deficit accumulated during the development stage (1,454,143)
-----------
Total Stockholders' Equity 2,272,789
-----------
TOTAL LIABILITIES AND STOCKHOLDERS' Equity $2,294,895
===========
VISTA CONTINENTAL CORPORATION
[CENTURY LABORATORIES, INC.}
(A Development Stage Company)
CONSOLIDATED STATEMENTS OF EXPENSES
For the Six and Three month Periods ended March 31, 2002 (restated)
and 2001 and the Period from July 1, 1988 (inception)
Through March 31, 2002
<table>
<c> <s> <s> <s> <s> <s>
Inception
6 and 3 Mo. Ended 6 and 3 Mo. Ended Through
2002 2002 2001 2001 2002
-------- -------- -------- -------- -----------
Mining operating
expenses $ 77,555 $ 43,450 $ 213,438
Administrative
Expenses 317,323 169,797 1,204,861
Depreciation 4,927 2,464 7,390
--------- -------- ------- ------- ---------
Net loss from
Operations (399,805) ( 215,711) (1,425,689)
Other income
- rental house
expenses, net of
rental house receipts (5,621) (3,637) (26,678)
- minority interest
Portion of net rental
house receipts 56 36 267
- foreign currency loss ( 2,043)
--------- ------- --------- --------- -----------
Net loss $( 405,370) $(219,312) $(1,454,143)
============ =========== =========== ========= ============
Per share, basic and diluted
Net loss per common share $(.01) $ (.01)
Weighted average
common shares
outstanding 37,323,828 39,523,828
</table>
VISTA CONTINENTAL CORPORATION
[CENTURY LABORATORIES, INC.}
(A Development Stage Company)
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Six month Periods ended March 31, 2002 (restated)
and 2001 and the Period from July 1, 1988 (inception)
Through March 31, 2002
<table>
<c> <s> <s> <s>
Inception
Through
2002 2001 2002
-------- -------- -----------
CASH FLOWS FROM OPERATING ACTIVITIES
Net deficit accumulated during the
development stage $( 405,370) $(1,454,143)
Adjustments to reconcile net deficit to
net cash used in operating activities:
Depreciation 12,096 21,644
Stock and options issued for services 381,510
Loss assigned to minority interest ( 56) (267)
Increase in prepaid rent (10,782)
Increase in accounts payable 2,000 4,948
Decrease in tenant security deposits 1,350 95
-------- --------- ---------
NET CASH USED BY OPERATING ACTIVITIES ( 389,980) (1,056,995)
-------- ------- ---------
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property & equipment ( 894,501)
Acquisition of mining concessions ( 9,775)
Increase in deposits ( 500)
------------ --------- ---------
( 904,776)
------------ --------- --------
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from note payable to founder 100
Contributions to capital by
founding shareholder 109,646 360,962
Sale of stock 270,550 1,603,700
-------- -------- ---------
NET CASH FLOWS FROM FINANCING ACTIVITIES 380,196 1,965,752
-------- -------- ---------
NET CHANGE IN CASH (9,784) 3,981
Cash balance, beginning 13,765 0
-------- ------ --------
Cash balance, ending $ 3,981 $ 3,981
======== ======== ========
</table>
SIGNATURES
Pursuant to the requirements of Section 12 of the Securities
Exchange Act of 1934, the registrant has duly caused this report on
Form 8K/A to be signed on its behalf by the undersigned,
thereunto duly authorized this 28th day of October, 2002.
VISTA CONTINENTAL CORPORATION
/s/ Robert Taylor
By: Robert Taylor, Chief Financial Officer