SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB
(Mark One)
[X] Quarterly report under Section 13 or 15(d) of the Securities Exchange
Act of 1934 for the quarterly period ended September 30, 2001.
[ ] Transition report under Section 13 or 15(d) of the Securities Exchange
Act of 1934 for the transition period from to .
Commission file number: 0-29601
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CYBERCOSMETICS, INC.
(Exact name of small business issuer as specified in its charter)
Nevada 88-0360533
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
268 West 400 South, Suite 300, Salt Lake City, Utah 84101
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(Address of principal executive office) (Zip Code)
(801) 575-8073
(Issuer's telephone number)
Check whether the issuer: (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 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 XX No
The number of outstanding shares of the issuer's common stock, $0.001 par value
(the only class of voting stock), as of October 31, 2001 was 2,042,000.
TABLE OF CONTENTS
PART I
ITEM 1. FINANCIAL STATEMENTS..................................................3
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.............4
PART II
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K......................................4
SIGNATURES.....................................................................5
INDEX TO EXHIBITS..............................................................6
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2
PART I
ITEM 1. FINANCIAL STATEMENTS
As used herein, the term "Company" refers to Cybercosmetics Inc., a Nevada
corporation, and its subsidiaries and predecessors unless otherwise indicated.
Consolidated, unaudited, condensed interim financial statements including a
balance sheet for the Company as of the quarter ended September 30, 2001, and
statements of operations and statements of cash flows for the interim period up
to the date of such balance sheet and the comparable period of the preceding
year are attached hereto as Pages F-1 through F-5 and are incorporated herein by
this reference.
[THIS SPACE HAS BEEN LEFT BLANK INTENTIONALLY]
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INDEX TO FINANCIAL STATEMENTS
Unaudited Balance Sheet as of September 30, 2001............................F-2
Unaudited Statement of Operations for the three and nine months ended September
30, 2001 and 2000 and June 3, 1996 (Date of Inception) to September
30, 2001.....................................................................F-3
Unaudited Statement of Cash Flows for the nine months ended September 30, 2001
and 2000 and June 3, 1996 (Date of Inception) to September 30, 2001..........F-4
Notes to Condensed Financial Statements......................................F-5
F-1
CYBERCOSMETICS, INC.
(A Development Stage Company)
Balance Sheets
As Of September 30, 2001
(Unaudited)
September 30, 2001
------------
ASSETS
CURRENT ASSETS:
Cash $ 0
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TOTAL CURRENT ASSETS 0
TOTAL ASSETS $ 0
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LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts Payable - Trade $ 692
Accounts Payable - Related Party 3,531
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TOTAL CURRENT LIABILITIES 4,223
STOCKHOLDERS' EQUITY:
Preferred stock, $.001 par value; authorized 5,000,000 shares;
no shares issued -
Common stock, $.001 par value; authorized 20,000,000 shares;
shares issued and outstanding: 2,042,000 on September 30, 2001 2,042
Additional paid-in capital 324
Accumulated deficit during development stage (6,589)
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TOTAL STOCKHOLDERS' EQUITY (DEFICIENCY) (4,223)
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TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 0
============
The accompanying notes are an integral part of these financial statements
F-2
CYBERCOSMETICS, INC.
(A Development Stage Company)
Unaudited Statements of Operations
For the Periods Ended September 30, 2001 and 2000 and
June 3, 1996 (Date of Inception) to September 30, 2001
For the Three Months Ended For the Nine Months Ended Inception to
September 30, September 30, September 30,
2001 2000 2001 2000 2001
---------- ----------- ----------- ---------- ----------
Revenue:
None $ - $ - $ - $ - $
---------- ----------- ----------- ---------- ----------
Expenses:
General and administrative costs 81 - 81 874 2,349
Outside Service 552 888 759 888 3,143
Stock Related 493 155 493 405 1,097
---------- ----------- ----------- ---------- ----------
Gross Expenses 1,126 1,043 1,333 2,167 6,589
Operating Profit (Loss) (1,126) (1,043) (1,333) (2,167) (6,589)
---------- ----------- ----------- ---------- ----------
Provision for income taxes - - - - -
Net loss $ (1,126) $ (1,043) $ (1,333) $ (2,167) $ (6,589)
========== =========== =========== ========== ==========
Net loss per common share - basic $ 0.00 $ 0.00 $ 0.00 $ 0.00
========== =========== =========== ==========
Weighted average number of shares 2,042,000 1,042,822 2,042,000 1,042,822
========== =========== =========== ==========
The accompanying notes are an integral part of these financial statements
F-3
CYBERCOSMETICS, INC.
(A Developmental Stage Company)
Unaudited Statements of Cash Flows
For the Nine Months Ended September 30, 2001 and 2000 and
June 3, 1996 (Date of Inception) to September 30, 2001
Inception to
September September September 30,
30, 2001 30, 2000 2001
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CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) $ (1,333) $ (2,167) $ (6,589)
Adjustments to reconcile net (loss) to net cash used by operating
activities:
Increase in accounts payable 492 888 692
Services and expenses paid with common stock - - 1,006
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Total adjustments 492 888 1,698
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Net cash provided (used) by operating activities (841) (1,279) (4,891)
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CASH FLOWS FROM FINANCING ACTIVITIES:
Loans by Related Party 826 950 3,531
Stock subscriptions collected - 360 360
Capital contributions by incorporators - - 1,000
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Net cash provided by financing activities 826 1,310 4,891
Net increase (decrease) in cash (15) 31 0
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Cash, beginning 15 - 0
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Cash, ending $ 0 $ 31 $ 0
========= ========= ===========
SUPPLEMENTAL SCHEDULE OF NON-CASH
INVESTING AND FINANCING ACTIVITIES:
Issuance of common stock for services and expenses $ - $ - $ 1,006
========= ========= ===========
1,006
The accompanying notes are an integral part of these financial statements
F-4
CYBERCOSMETICS, INC
(A Development Stage Company)
NOTES TO CONSOLIDATED UNAUDITED FINANCIAL STATEMENTS
September 30, 2001
1. Basis of Presentation
The accompanying consolidated unaudited condensed financial statements have been
prepared by management in accordance with the instructions in Form 10-QSB and,
therefore, do not include all information and footnotes required by generally
accepted accounting principles and should, therefore, be read in conjunction
with the Company's Form 10-KSB for the year ended December 31, 2000, filed with
the Securities and Exchange Commission. These statements do include all normal
recurring adjustments which the Company believes necessary for a fair
presentation of the statements. The interim operations results are not
necessarily indicative of the results for the full year ended December 31, 2001.
2. Additional footnotes included by reference
Except as indicated in Notes above, there have been no other material changes in
the information disclosed in the notes to the financial statements included in
the Company's Form 10-KSB for the year ended December 31, 2000, filed with the
Securities and Exchange Commission. Therefore, those footnotes are included
herein by reference.
F-5
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION
Plan of Operations
The Company's plan of operation for the coming year is to identify and acquire a
favorable business opportunity. The Company does not plan to limit its options
to any particular industry, but will evaluate each opportunity on its merits.
The Company anticipates that its owners, affiliates, and consultants will
provide it with sufficient capital to continue operations for the next 12
months, but there is no guarantee that these funds will be provided.
The Company does not expect to generate any meaningful revenue or incur
operating expenses unless and until it acquires an interest in an operating
company.
PART II
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) Exhibits Exhibits required to be attached by Item 601 of Regulation S-B
are listed in the Index to Exhibits on page 6 of this Form 10-QSB, and
are incorporated herein by this reference.
(b) Reports on Form 8-K. No reports on Form 8-K were filed during the
period covered by this Form 10-QSB.
4
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, this 31st of October, 2001.
CYBERCOSMETICS, INC.
/s/ Richard D. Surber
______________________
Richard D. Surber
President and Director
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INDEX TO EXHIBITS
EXHIBIT PAGE
NO. NO. DESCRIPTION
3(i) * Articles of Incorporation of the Company
(incorporated herein by reference from
Exhibit No. 3(i) of the Company's Form 10-SB
as filed with the Securities and Exchange
Commission on February 18, 2000).
3(ii) * Bylaws of the Company, as amended
(incorporated herein by reference from
Exhibit 3(ii) of the Company's Form 10-SB as
filed with the Securities and Exchange
Commission on February 18, 2000).
* Incorporated herein by reference from the referenced filings previously made
by the Company.
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