UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
Quarterly Report Under Section 13 or 15(d) of the
Securities Exchange Act of 1934
For the quarterly period ended June 30, 2000
Commission file Number 0-8730
AMERICAN INDUSTRIES, LTD.
(Registrant)
Nevada 88-119436
(State of Incorporation) (I.R.S. Employer
Identification No.)
101 Convention Center Drive
Suite 1200
Las Vegas Nevada 89109
(Zip Code)
Registrant's Telephone Number (702) 898-3022
Indicate by check mark whether the registrant (1) 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,
and (2) has been subject to such filing requirements for the
past 90 days. Yes _X_ No ___
As of March 31, 2000, there were 20,006,586 shares of common stock
outstanding.
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements
Financial statements are attached at the end of the 10-Q.
Item 2. Management's Discussion and Analysis of Financial
condition and Operating Results
Results of Operations-Quarter Ended
During the quarter ended June 30, 2000 the Company had no income.
The quarter ended June 30, 1999, showed no income also.
General administrative expenses remain on minimal.
Liquidity and Capital Resources.
As mentioned above, the Company has no income. The Company's
Chief Executive Officer, George Balis, is in constant search of
income sources. The lack of income production has put the Company
into a negative cash flow position. Currently, any shortfall in
the company's administrative and operating expenses are beig paid
by George Balis and Mary Kinn, two shareholders and directors.
The investments listed on the balance sheet are not liquid and
will provide no immediate relief from the negative cash flow.
Mr. Balis is working on hiring new staff and revitalizing the
revenue stream. His efforts are being hampered by shortage of
operating capital and, therefore, there are no assurances that
Mr. Balis' efforts will prove successful.
SIGNATURE
Pursuant to the requirements of the Securites and Exchange Act of
1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned thereunder duly authorized.
AMERICAN INDUSTRIES, LTD.
Registrant
_________________________
/SS/ George Balis, President
(Chief Accounting Officer)
Date: August 15, 2000
AMERICAN INDUSTRIES, LTD.
CONSOLIDATED BALANCE SHEETS
(unaudited)
as of June 30, 2000 and March 31, 2000
6/30/00 3/31/00
ASSETS
Cash 13,625 13,652
______ ______
Total Current Assets 13,625 13,652
Investments Assets 61,084,822 61,084,822
__________ __________
Total Assets 61,098,447 61,098,474
__________ __________
__________ __________
LIABILITIES
Accounts Payable 29,951 264,142
___________ __________
Total Liabilities 29,951 264,142
___________ __________
STOCKHOLDERS' EQUITY
Common Stock, authorized
50,000,000 shares,
20,006,586 shares outstanding
par value $.10 2,000,659 2,000,659
Paid in Capital 60,042,884 60,042,884
Retained Earnings (loss) (1,239,162) (1,209,211)
__________ __________
Total Stockholders' Equity 60,804,381 60,834,332
__________ __________
Total Liabilities and
Stockholders' Equity 61,098,447 61,098,474
__________ __________
__________ __________
[FN]
The above statement is unaudited and is prepared by management
AMERICAN INDUSTRIES, LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS
for the three months ended June 30, 2000 and 1999
3 mth 3 mth
ended ended
6/30/00 6/30/99
Revenue - -
_________ _______
General and Administrative
Expenses 29,951 87,011
_________ _______
Net Income (Loss) before Taxes (29,951) (87,011)
Provision for Income Taxes 0 0
_________ _______
Net Income (Loss) (29,951) (87,011)
_________ _______
_________ _______
Earnings per Common Share 0 0
_________ _______
Weighted Average Number
of Shares Outstanding 20,006,586 20,006,586
__________ __________
[FN]
The above statement is unaudited and is prepared by management
AMERICAN INDUSTRIES, LTD.
CONSOLIDATED STATEMENTS OF CASH FLOW
(unaudited)
for the three months ended June 30, 2000 and 1999
3 mths 3 mths
ended ended
6/30/00 6/30/99
Cash from Operations
Net Income (Loss) (29,951) (87,011)
Change in Receivables - -
Change in Payables - -
________ ______
Net Cash from Operations (27) (97)
________ ______
Cash used for Investments - -
________ _______
Cash from Investments - -
________ _______
Net Change in Cash (27) (97)
Beginning Cash Balance 13,652 13,749
_________ ________
Ending Cash Balance 13,625 13,726
__________ ________
[FN]
The above statement is unaudited and is prepared by management
AMERICAN INDUSTRIES, LTD.
NOTES TO FINANCIAL STATEMENTS
Note 1. General and Accounting Policies
American Industries, Ltd. (the Company) was originally organized
December 26, 1919 in Nevada. The company has one wholly owned
subsidiary Global Technologies S.A. Global Technologies was
organized in Europe in the country of Luxembourg. In 1993 the
company purchased Global Technologies from its previous owner.
The purchase was done using purchase accounting. Notwithstanding
the use of purchase accounting, at the time of the merger in 1993,
the book value of Global's assets was equal to the fair market
value of the assets. At the time of the merger appraisals were
obtained to verify value. Subsequently, these appraisals have been
updated. Management feels that these statements correctly reflect
the financial condition and operations of the company for the
period stated.
Principles of Consolidation
The consolidated financial statements include the the accounts of
the company and its subsidiary. All significant intercompany
transactions have been eliminated.
Earnings per Share
Earnings per share is computed on the weighted average number of
common shares outstanding during the year.