U.S. 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 March 31, 1997.
[ ] 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: 0-5367
D-LANZ DEVELOPMENT GROUP, INC.
(Exact name of registrant as specified in its charter
Delaware 11-1717709
(State of otherjurisdiction of (I.R.S. Employer
incorporation or organization Identification No.)
400 Grove Street Glen Rock, New Jersey 07452
Address of principal executive offices)
201- 445-8862
(Registrant's telephone number, including area code)
Former name, former address and former fiscal year, if changed since last report
Indicate by check mark, whether the registrant:: (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Exchange 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 No
The Company had 1,551,394 shares of common stock outstanding
PART I
FINANCIAL INFORMATION
Item 1. Financial Statements
The condensed financial statements for the periods ended March 31, 1997
included herein have been prepared by D-Lanz Development Group, Inc., (the
"Company") without audit, pursuant to the rules and regulations of the
Securities and Exchange Commission (the "Commission"). In the opinion of
management, the statements include all adjustments necessary to present fairly
the financial position of the Company as of March 31, 1997, and the results of
operations and cash flows for the three month periods ended March 31, 1996 and
1997.
The Company's results of operations during the three months of the Company's
fiscal year are not necessarily indicative of the results to be expected for the
full fiscal year.
The financial statements included in this report should be read in
conjunction with the financial statements and notes thereto in the Company's
Annual Report on Form 10-K for the fiscal years ended December 31, 1995 and
1996.
D-LANZ DEVELOPMENT GROUP, INC.
(A Development Stage Company)
BALANCESHEET
Assets
December 31, December 31, March
31,
1995 1996 1997
Current assets
Cash 0 0 0
Total assets 0 0 0
Liabilities and Stockholders' Equity 0 0 0
Commitments and Contingencies 0 0 0
Capital stock
Preferred stock-authorized 5,000,000 shares $.001 par value. At December 31,
1995 and 1996 and March 31, 1997 the number of shares outstanding was -0-
Capital stock-authorized 15,000,000 shares,
par value of $.00 1. At December 31,
1995 and 1996 and March 31, 1997 the
number of shares outstanding was 1,551,394.$1,551 $1,551 $1,551
Additional paid in capital (1,551) (1,551) (1,551)
Total stockholders' equity -0- -0- -0-
Total liabilities and stockholders' equity-0- -0- -0-
See accompanying notes to financial statements.
D-LANZ DEVELOPMENT GROUP, INC.
(A Development Stage Company)
STATEMENT OF OPERATIONS
For the year For the year For the three For the three
ending ending months ended months ended
December 3l, December 3l, March 31, March 31,
1995 1996 1996 1997
Income $-0- $-0- $-0- $-0-
Less costs of goods sold -0- $-0- $-0- $-0-
Gross profit -0- $-0- $-0- $-0-
Operations:
General and administrative -0- $-0- $-0- $-0-
Depreciation and amortization -0- $-0- $-0- $-0-
Total expense -0- $-0- $-0- $-0-
Profit from operations and before -0- $-0- $-0- $-0-
Corporate income tax expense
Corporate income tax -0- $-0- $-0- $-0-
Net profit or (Loss) -0- $-0- $-0- $-0-
Net income per share -0- $-0- $-0- $-0-
Average number of shares 1,551,394 1 ,551,394 1,551,394 1,551,394
outstanding
See accompanying notes to financial statements.
D-LANZ DEVELOPMENT GROUP, INC.
(A Development Stage Company)
STATEMENT OF CASH FLOWS
For the year For the year For the three For the three
ending ending months ended months ended
December 31, December 31, March 31, March 31,
1995 1996 1996 1997
CASH FLOWS FROM OPERATING
ACTIVITIES
Net profit (loss) $-O- $-O- $-0- $-0-
Depreciation and amortization $-O- $-O- $-0- $-0-
TOTAL CASH FLOWS FROM OPERATING $-O- $-O- $-0- $-0-
ACTIVITIES
CASH FLOWS FROM FINANCING
ACTIVITIES
Commitments and contingencies $-O- $-O- $-0- $-0-
TOTAL CASH FLOWS FROM FINANCING $-O- $-O- $-0- $-0-
ACTIVITIES
NET INCREASE (DECREASE) IN CASH $-O- $-O- $-0- $-0-
CASH BALANCE BEGINNING OF $-O- $-O- $-0- $-0-
PERIOD
CASH BALANCE END OF PERIOD $-O- $-O- $-0- $-0-
See accompanying notes to financial statements.
D-LANZ DEVELOPMENT GROUP, INC.
(A Development Stage Company)
STATEMENT OF STOCKHOLDERS' EQUITY
Preferred Preferred Common Common Additional paid
Date Stock Stock Stock Stock in capital Total
12-31-1992 -0- $-0- 1,551,394 $1,551 $(1,551) $-0-
12-31-1993 -0- $-0- 1,551,394 $1,551 $(1,551) $-0-
12-31-1994 -0- $-0- 1,551,394 $1,551 $(1,551) $-0-
12-31-1995 -0- $-0- 1,551,394 $1,551 $(1,551) $-0-
12-31-1996 -0- $-0- 1,551,394 $1,551 $(1,551) $-0-
Unaudited
3-31-1997 -0- $-0- 1,551,394 $1,551 $(1,551) $-0-
See accompanying notes to financial statements.
D-LANZ DEVELOPMENT GROUP, INC.
NOTES TO FINANCIAL STATEMENTS
NOTE A--BASIS OF PRESENTATION
The accompanying unaudited financial statements have been prepared in
accordance with generally accepted principles for interim financial information
as set forth in Article 10 of Regulation S-X. Accordingly, they do not include
all of the information and footnotes required by generally accepted accounting
principles for complete financial statements. In the opinion of management, all
necessary adjustments (consisting of normal recurring accruals) considered
necessary for a fair presentation have been included. Operating results of D-
Lanz Development Group, Inc. (the "Company") for the three months ended March
31, 1996 and 1997 are not necessarily indicative of the results that may be
expected for the fiscal year ending December 3 1, 1997.
NOTE B--EARNINGS PER SHARE
Earnings per share have been computed on the basis of weighted average
number of shares outstanding. The weighted average number of shares outstanding
at March 31, 1996 and 1997 was 1,551,394 and 1,551,394 respectively.
NOTE C-COMMITMENTS
The Company had no lawsuits or liabilities pending at March 31, 1996 and
1997.
NOTE D--CONTINGENT LIABILITY
a. Leased Office Space
The Company occupies office space at 400 Grove Street, Glen Rock, New
Jersey rent free on a month to month basis.
Item 2. Management's Discussion and Analysis of Plan of operation
Results of Operations
For the year ended December 31, 1996 as compared to the year ended December 31,
1995.
The company has remained inoperative. Sales, costs of goods sold, gross profit,
operating expenses and net profit were $-0- for both the years ended December
31, 1995 and 1996. The activities of the Company during the years ended December
31, 1995 and 1996 consisted of preparing and filing corporate income tax returns
and filings for the Securities and Exchange Commission.
For the three months ended March 31, 1997 as compared to the three months ended
March 31, 1996.
The company has remained inoperative. Sales, costs of goods sold, gross profit,
operating expenses and net profit were $-0- for both the three months ended
March 31, 1996 and 1997. The activities of the Company during the three months
ended March 31, 1996 and 1997. consisted of preparing and filing corporate
income tax returns and filings for the Securities and Exchange Commission.
Liquidity And Capital Resources
As of March 31, 1997, the Company's working capital was a $-0-. The Company's
President has provided the necessary moneys to sustain the Company's existence
until a new business purpose can be found.
PART II
OTHER INFORMATION
Item 1. Legal Proceedings.
No legal proceedings are pending against the Company.
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.
SIGNATURES
In accordance with the requirements of the Securities Exchange Act of
1934, the registrant caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
D-LANZ DEVELOPMENT GROUP, INC.
/s/Roger Fidler
Mr. Roger Fidler,
President
Dated: October 10, 1997