UNITES STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 10-Q
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For Quarter Ended: May 31, 1998
Commission File Number: 33-3424 NY
ALLURE COSMETICS, LTD. ____
(Exact name of registrant as specified in its charter)
Delaware 22-2473081 ____
(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
31-51 Steinway Street, L.I.C. New York 11103 ____
(Address of principal executive Offices) (Zip Code)
Registrant's telephone number,
including area code (718) 545-0507 ____
None ____
(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
Securities Exchange Act 1934 during the preceding 12 months (or
for such shorter periods that the registrant was required to
file such reports) and (2) has been subjected to such filing
requirements for the past 90 days.
Yes X No
Indicate the number of shares outstanding of each of the
issuer's classes of common stock as of the latest practical
date.
Common Stock, $.001 Par Value 13,775,000 shares as of May 31,
1998.
INDEX
ALLURE COSMETICS, LTD.
PART I FINANCIAL INFORMATION
Item 1. Financial Statement (Unaudited)
Balance Sheets-August 31, 1997 and May 31, 1998.
Statements of Changes In Financial Position-Nine months
ended May 31, 1997 and 1998.
Statements of Income-Three months and Nine months
ended May 31, 1997 and 1998.
Notes To Financial Statements-May 31, 1998.
Item 2. Management's Discussion and Analysis of Financial
Condition and Results of operations.
Item 3. Quantitative and Qualitative Disclosures About
Market Risk.
Part II OTHER INFORMATION
Item 1. Legal Proceedings.
Item 2. Changes in Securities and Use of Proceeds.
Item 3. Defaults Upon Senior Securities.
Item 4. Submission of Matters to a Vote of Security Holders.
Item 5. Other Information
Item 6. Exhibits and Reports on Form 8-K (? 249.308 of this
Chapter).
PART I
FINANCIAL INFORMATION
Item 1. Financial Statements.
ALLURE COSMETICS, LTD.
COMPARATIVE BALANCE SHEETS
ASSETS
At At
AUGUST 31,1997 MAY 31, 1998
(UNAUDITED) (UNAUDITED)
CURRENT ASSETS:
CASH $ _0 $ _0
TOTAL CURRENT ASSETS _0 _0
PROPERTY PLANT AND EQUIPMENT:
AUTOMOTIVE EQUIPTMENT _____0 _____0
0 0
LESS ALLOWANCE FOR
DEPRECIATION _____0 _____0
NET PROPERTY PLANT AND
EQUIPTMENT ____0 ____0
OTHER ASSETS:
INVESTMENT-GATTINI CORP. 700 700
TOTAL OTHER ASSETS 700 700
700 700
====== ======
See notes to financial statements.
The balance sheet at August 31, 1997 has been derived from the
unaudited financial statements at that date.
ALLURE COSMETICS, LTD.
COMPARATIVE BALANCE SHEET
LIABILITIES AND STOCKHOLDERS' EQUITY
AT AT
AUGUST 31,1997 MAY 31,1998
(UNAUDITED) (UNAUDITED)
CURRENT LIABILITIES
ACCOUNTS PAYABLE $ 84,676 $ 95,476
ACCRUED LIABILITIES 18,417 18,417
TAXES OTHER THAN INCOME TAX 21,162 21,162
TOTAL CURRENT LIABILITIES 124,255 135,055
TOTAL LIABILITIES $124,255 $135,055
STOCKHOLDERS EQUITY (DEFICIT)
COMMON STOCK, $.001 PAR VALUE
20,000,000 SHARES AUTHORIZED;
13,775,000 SHARES ISSUED AND
OUTSTANDING. 13,775 13,775
ADDITIONAL PAID IN CAPITAL 1,997,704 1,997,704
ACCUMULATED DEFICIT (2,135,034) (2,145,833)
TOTAL STOCKHOLDERS' EQUITY (123,555) (134,355)
700 700
=========== ===========
See notes to financial statements.
The balance sheet at August 31,1997 has been derived from the
unaudited financial statements at that date.
ALLURE COSMETICS, LTD.
STATEMENT OF INCOME
THREE MONTHS ENDED NINE MONTH ENDED
MAY 31, MAY 31,
1997 1998 1997 1998
(UNAUDITED)(UNAUDITED) (UNAUDITED)(UNAUDITED)
NET SALES
CUSTOMERS $ 0 $ 0 $ 0 $ 0
MAKE-UP CENTER OF 55th ST. LTD. 0 0 0 0
0 0 0 0
COST OF SALES
CUSTOMERS 0 0 0 0
MAKE-UP CENTER OF 55th ST. LTD. 0 0 0 0
0 0 0 0
_____ _____ ______ ______
GROSS PROFIT 0 0 0 0
OPERATING EXPENSES
SELLING 0 0 0 0
ADMINISTRATIVE 3,600 3,600 10,800 10,800
TOTAL OPERATING EXPENSES 3,600 3,600 10,800 10,800
OPERATING PROFIT (LOSS) (3,600) (3,600) (10,800) (10,800)
OTHER INCOME (EXPENSE)
INTEREST INCOME 0 0 0 0
INTEREST EXPENSE 0 0 0 0
TOTAL OTHER INCOME (EXPENSE) 0 0 0 0
NET INCOME (LOSS) ($3,600) ($3,600) ($10,800) ($10,800)
========== ========= ========== ==========
NET INCOME (LOSS) PER SHARE ($0.0003) ($.0003) ($0.0009) ($0.0008)
========== ========== ========== ==========
WEIGHED AVERAGE NUMBER OF
SHARES OUTSTANDING 13,775,000 13,775,000 13,775,000 13,775,000
========== ========== ========== ==========
See notes to financial statement.
ALLURE COSMETICS, LTD.
STATEMENT OF CHANGES IN FINANCIAL POSITION
NINE MONTHS ENDED
MAY 31,
1997 1998
(UNAUDITED)(UNAUDITED)
WORKING CAPITAL PROVIDED FROM:
NET INCOME (LOSS) ($10,800) ($10,800)
ITEMS'NOT REQUIRING THE USE OF
WORKING CAPITAL:
DEPRECIATION AND AMORTIZATION _ 0_ _ 0_
TOTAL WORKING CAPITAL PROVIDED (10,800) (10,800)
INCREASE (DECREASE) IN WORKING CAPITAL ($10,800) ($10,800)
========= =========
CHANGES IN WORKING CAPITAL ITEMS:
INCREASE (DECREASE) IN CURRENT ASSETS:
CASH ($0) ($0)
(0) (0)
(INCREASE) DECREASE IN
CURRENT LIABILITIES:
ACCOUNTS PAYABLE (10,800) (10,800)
PAYABLE TO OFFICER P GATTINI (0) (0)
(10,800) (10,800)
INCREASE (DECREASE) IN WORKING CAPITAL ($10,800) ($10,800)
========= =========
See notes to financial statement.
ALLURE COSMETICS, LTD.
NOTES TO FINANCIAL STATEMENTS (UNAUDITED)
MAY 31, 1998
NOTE A--BASIS OF PRESENTATION
The accompanying unaudited financial statements have been
prepared in accordance with generally accepted accounting
principles for interim financial information and with the
instructions to Form 10-Q and Rule 10-01 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 adjustments (consisting of normal recurring accruals)
considered necessary for a fair presentation have been included.
Operating results for the nine months ended May 31, 1998 are not
necessarily indicative of the results that may be expected for
the year ended August 31, 1998. For further information, refer
to the financial statements and footnotes included in the
Company's annual report on Form 10-K for the year ended August
31, 1997.
Item 2. Management's Discussion and Analysis of Financial
Conditions and Results of Operations.
Currently Allure Cosmetics, Ltd. is not doing any business and
it is the intention of management to try to reorganize, while
the Company has no specific plans at this time, it is the
intention of management to explore the possibility of
reorganization without the use of the protection afforded under
bankruptcy laws, however it does not rule out the possibility
should it choose to do so.
The Company had zero sales in the third quarter of fiscal 1997
the same as the same quarter of fiscal 1996.
The ratio of current assets to current liabilities was 0.00 at
the end of the third quarter of fiscal 1997 as compared to 0.00
the same period of 1996.
The Company had a working capital deficit of $135,055 at May 31,
1998 as compared to a working capital deficit of $122,944 at May
31, 1997; the working capital deficit is mainly attributed to
the operating losses.
Item 3. Quantitative and Qualitative Disclosures About
Market Risk.
None.
Forward-Looking Statements.
The statements contained in this report on Form 10-Q that are
not historical fact are forward-looking statements as that term
is defined in the Private Securities Litigation Reform Act of
1995. Such forward-looking statements are subject to risks and
uncertainties, which could cause actual results to differ
materially from those anticipated. Such risks and uncertainties
include, but are not limited to, continued compliance with
government regulations, customer demand, management of growth,
intensity of competition from other cosmetic product vendors,
timing and acceptance of new product introductions, general
economic conditions and regulatory changes. As well as other
relevant risks detailed in the Company's filings with the
Securities Exchange Commission, including its Annual Report on
Form 10-K for the period ended August 31, 1997, and the
information set forth herein should be read in light of such
risks.
PART II
Item 1. Legal Proceedings
None.
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.
Item 5. Other Information
None.
Item 6. Exhibits and Reports on Form 8-K (? 249.308 of this
chapter
None.
SIGNATURES
Pursuant to the requirements 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.
ALLURE COSMETICS, LTD.
(Registrant)
Date: December 19, 2001 By: /S/Pietro Gattini
Pietro Gattini, President and
Chief Executive Officer