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: November 30, 2001
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 November
30, 2001.
INDEX
ALLURE COSMETICS, LTD.
PART I FINANCIAL INFORMATION
Item 1. Financial Statement (Unaudited)
Balance Sheets-August 31, 2001 and November 30, 2001.
Statements of Changes In Financial Position-Three
months ended November 30, 2000 and 2001.
Statements of Income-Three months ended November 30, 2000
and 2001.
Notes To Financial Statements-November 30, 2001.
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 31,2001 NOVEMBER 30, 2001
(UNAUDITED) (UNAUDITED)
CURRENT ASSETS:
CASH $ 0 $ 500
INVENTORIES 1,110 2,207
------ ------
TOTAL CURRENT ASSETS 1,110 2,707
PROPERTY PLANT AND EQUIPMENT:
AUTOMOTIVE EQUIPMENT 0 0
------ ------
0 0
LESS ALLOWANCE FOR
DEPRECIATION 0 0
------ ------
NET PROPERTY PLANT AND
EQUIPMENT 0 0
------ ------
OTHER ASSETS:
INVESTMENT-GATTINI CORP. 700 700
------ ------
TOTAL OTHER ASSETS 700 700
------ ------
$1,810 $3,407
====== ======
See notes to financial statements.
The balance sheet at August 31, 2001 has been derived from the
unaudited financial statements at that date.
ALLURE COSMETICS, LTD.
COMPARATIVE BALANCE SHEET
LIABILITIES AND STOCKHOLDERS' EQUITY
AT AT
AUGUST 31,2001 NOVEMBER 30,2001
(UNAUDITED) (UNAUDITED)
CURRENT LIABILITIES
ACCOUNTS PAYABLE $139,958 $142,383
ACCRUED LIABILITIES 20,604 23,573
TAXES OTHER THAN INCOME TAX 21,162 21,164
-------- --------
TOTAL CURRENT LIABILITIES 181,724 187,120
-------- --------
TOTAL LIABILITIES 181,724 187,120
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 (2,191,393) (2,195,192)
---------- ----------
TOTAL STOCKHOLDERS' EQUITY (179,914) (183,713)
---------- ----------
$1,810 $3,407
========== ==========
See notes to financial statements.
The balance sheet at August 31, 2001 has been derived from the
unaudited financial statements at that date.
ALLURE COSMETICS, LTD.
STATEMENT OF INCOME
THREE MONTHS ENDED
NOVEMBER 30
2000 2001
(UNAUDITED) (UNAUDITED)
NET SALES
CUSTOMERS $ 0 $ 0
MAKE-UP CENTER OF 55th ST. LTD. 0 0
0 0
COST OF SALES
CUSTOMERS 0 0
MAKE-UP CENTER OF 55th ST. LTD. 0 0
0 0
_____ _____
GROSS PROFIT 0 0
OPERATING EXPENSES
SELLING 0 0
ADMINISTRATIVE 3,880 3,799
TOTAL OPERATING EXPENSES 3,880 3,799
OPERATING PROFIT (LOSS) (3,880) (3,799)
OTHER INCOME (EXPENSE)
INTEREST INCOME 0 0
INTEREST EXPENSE 0 0
TOTAL OTHER INCOME (EXPENSE) 0 0
NET INCOME (LOSS) ($3,880) ($3,799)
========== ==========
NET INCOME (LOSS) PER SHARE ($.0003) ($.0003)
========== ==========
WEIGHED AVERAGE NUMBER OF
SHARES OUTSTANDING 13,775,000 13,775,000
========== ==========
See notes to financial statement.
ALLURE COSMETICS, LTD.
STATEMENT OF CHANGES IN FINANCIAL POSITION
THREE MONTHS ENDED
NOVEMBER 30
2000 2001
(UNAUDITED) (UNAUDITED)
WORKING CAPITAL PROVIDED FROM:
NET INCOME (LOSS) ($3,880) ($3,799)
ITEMS NOT REQUIRING THE USE OF
WORKING CAPITAL:
DEPRECIATION AND AMORTIZATION 0_ _ 0_
TOTAL WORKING CAPITAL PROVIDED (3,880) (3,799)
INCREASE (DECREASE) IN WORKING CAPITAL ($3,880) ($3,799)
======== ========
CHANGES IN WORKING CAPITAL ITEMS:
INCREASE (DECREASE) IN CURRENT ASSETS:
CASH $ 0 $ 500
INVENTORIES 0 1,097
-------- ------
0 1,597
(INCREASE) DECREASE IN
CURRENT LIABILITIES:
ACCOUNTS PAYABLE (3,600) (3,658)
LOAN PAYABLE TO OFFICER P GATTINI 0 (500)
LOAN PAYABLE TO GATTINI CORP. (280) (1,238)
-------- -------
INCREASE (DECREASE) IN WORKING CAPITAL ($3,880) ($3,799)
======== ========
See notes to financial statement.
ALLURE COSMETICS, LTD.
NOTES TO FINANCIAL STATEMENTS (UNAUDITED)
NOVEMBER 30, 2001
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 three months ended November 30, 2001
are not necessarily indicative of the results that may be
expected for the year ended August 31, 2002. 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, 2001.
Item 2. Management's Discussion and Analysis of Financial
Conditions and Results of Operations.
Currently Allure Cosmetics, Ltd. is in the process of
reorganizing and has also developed a new line of cosmetics and
related products to be sold over the Internet through the
Company's web site www.allurecosmetics.com. The Company's products
will include but are not limited to Anti-Aging, Bath & Body,
Hair Care, Makeup, Weight Loss, Natural Healing and Vitamins.
The Company's web site although not complete it became
operational in December 2001. It is the intention of
management to try to introduce and sell all of its current and
future developed products through the Company's web site
www.allurecosmetics.com.
Currently the Company's financial resources have been provided
through loan by the President Pietro Gattini and Gattini
Corporation. Pietro Gattini is the President and shareholder of
the Gattini Corporation. The Company's survival is solely
dependent on the continuation of the loans received from the
President Pietro Gattini. There is no guarantee or agreement
between the President and the Company that these loans will
continue and that they may be terminated at any time. It is the
intention of management to explore the possibility of raising
capital through the financial markets. At this time the Company
has not had any discussions with any institutions as to the type
of financing that may or may not be available to the Company.
The Company had zero sales in the first quarter of fiscal 2001
the same as the same quarter of fiscal 2000.
The ratio of current assets to current liabilities was 0.00 at
the end of the first quarter of fiscal 2001 as compared to 0.00
the same period of 2000.
The Company had a working capital deficit of $184,413 at
November 30, 2001 as compared to a working capital deficit of
$168,747 at November 30, 2000; 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, 2001, and the Form 8-K
filed with the Securities and Exchange Commission on November
30, 2001, 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
Form 8-K Filed with the Securities and Exchange Commission on
November 30, 2001
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: January 18, 2002 By: /S/ Pietro Gattini
Pietro Gattini, President and
Chief Executive Officer