SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10QSB
Annual Report Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
For the quarterly period Ending: July 31, 2000
Commission File Number: 0-15089.
PATHFINDER DATA GROUP INC. (formerly RAINBOW EQUITIES,LTD.)
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(Exact name of registrant as specified in its charter)
Colorado 84-0906205
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
20 Commerce Park North, Bedford, New Hampshire, 03110
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (603) 628-2888
Securities registered pursuant to Section 12(b) of the Act:
Name of each Exchange on
Title of each Class which registered
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NONE NONE
Securities registered pursuant to Section 12(g) of the Act:
Common Stock, $.001 par value
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(Title of Class)
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 (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 _X___. No ____.
The number of shares of the Common Stock of the Registrant outstanding
on May 31, 2000:
Common Stock $.001 par value......................2,176,192
Total number of pages: 9
PATHFINDER DATA GROUP,INC.
FORM10QSB JULY 31, 2000
ITEM 1 - Financial Statements
(following pages)
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PATHFINDER DATA GROUP, INC.
Balance Sheets
July 31, 2000
ASSETS
July 31, 2000 April 30, 2000
(Unaudited) (*)
Total assets $ - $ -
LIABILITIES AND SHAREHOLDERS' DEFICIT
July 31, 2000 April 30,2000
(Unaudited) (*)
Total liabilities $ - $ -
Shareholders' deficit
10% Series A cumulative convertible preferred stock,
par value $.001; authorized 100,000 shares; stated
value $10; issued and outstanding 7,600 shares 76,000 76,000
Common stock - $.001 par value; authorized
125,000,000 shares; issued and outstanding
2,176,192 shares 2,176 2,176
Additional paid-in capital 167,414 167,414
Accumulated deficit (245,590) (245,590)
$ - $ -
The accompanying note is an integral part of these financial statements.
(*) Condensed from the Company's audited financial statements.
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PATHFINDER DATA GROUP, INC.
Statements of Operations
For the Three Months Ended July 31, 2000 and July 31, 1999
Three Months Three Months
Ending Ending
July 31, 2000 July 31, 1999
Revenue $ - $ -
Operating expenses
Loss from operations - -
Nonoperating income
Net loss $ - $ -
Loss per common share $.00 $ .00
The accompanying note is an integral part of these financial statements.
4
PATHFINDER DATA GROUP, INC.
Statements of Cash Flows
For the Three Months Ending July 31, 2000 and July 31, 1999
Three Months Three Months
Ending Ending
July 31, 2000 July 31, 1999
Cash flows from operating activities
Net loss $ - $ -
Net cash used in operating activities - -
Net increase in cash - -
Cash, beginning of year - -
Cash, end of year $ .00 $ .00
The accompanying note is an integral part of these financial statements.
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PATHFINDER DATA GROUP, INC.
Notes to Financial Statements
April 30, 2000 and 1999
1. Organization
Pathfinder Data Group, Inc. (the Company) has no assets, liabilities,
or operating business. It has no plans to acquire assets or an
operating business. The Board of Directors is actively seeking a
buyer which can benefit from its publicly traded status. Given the
above, additional, customary footnote disclosures are not deemed as
being required to present the accompanying financial statements in
accordance with generally accepted accounting principles.
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PATHFINDER DATA GROUP,INC.
FORM 10QSB JULY 31, 2000
PART I: FINANCIAL INFORMATION
ITEM 2. Management's Discussion and Analysis of Financial
Condition and Results of Operations
The Registrant's principal business was providing services
to property and casualty insurance companies. As previously
discussed,the Registrant does not conduct any business presently.
Sales & Revenues
The Registrant has not generated any sales or revenues since
it's wholly owned subsidiary, Pathfinder Database, Inc. which had
filed a Chapter 11 petition converted to a Chapter 7 filing in
December 1989. This was the Registrant's sole source of sales and
revenues.
Operating Costs and Expenses
The Registrant has not incurred any operating costs or any
expenses because it has effectively ceased operations. Any small
expenses incurred through filings etc. are paid by the majority
shareholder, Chairman and President of the Registrant.
Liquidity and Capital Resources
The Registrant's effort, to raise a sufficient amount of
capital for its wholly owned subsidiary, Pathfinder Database Inc.
to continue its operations was unsuccessful. Therefore Pathfinder
Database,Inc. was forced seek protection under Chapter 11 of the
Bankruptcy Code,on June 30, 1989.All sources of capital responded
negatively to the Registrant's proposals.
Unable to develop a Plan or Reorganization, the subsidiary
Pathfinder Database, Inc. was converted to a Chapter 7 by the
Bankruptcy Court and closed as a "no asset" case.
Thus at the present time the Registrant does not have any
liquidity or capital resources available.
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PATHFINDER DATA GROUP,INC.
FORM 10QSB JULY 31,2000
PART II: OTHER INFORMATION
ITEM 6 - Exhibits and Reports on Form 8-K
(all incorporated by reference)
a. Exhibits
None
b. Reports on Form 8-K
None
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PATHFINDER DATA GROUP, INC.
FORM 10QSB JULY 31, 2000
SIGNATURES
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Pursuant to the requirements of Section 13 or 15(d) 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.
PATHFINDER DATA GROUP INC.
s/Allan S. Wolfe
By: ______________________
Allan S. Wolfe,
President and Treasurer
Date: August 28, 2000
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