1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 10-QSB
Quarterly Report Under Section 13 or 15(d) of
the Securities Exchange Act of 1934
For the Quarter Ended Commission File Number
March 31, 1997 33-26109
AMAZON NATURAL TREASURES, INC.
(Exact name of registrant as specified in its charter)
UTAH
----
(State or other jurisdiction of incorporation or organization
87-0460880
----------
(I.R.S. Employer Identification No.)
4011 W. OQUENDO AVENUE, SUITE C
-------------------------------
LAS VEGAS, NEVADA 89118
-----------------------
(Address of principal executive offices)
4386 SOUTH EASTERN AVENUE
-------------------------
LAS VEGAS, NEVADA 89119
-----------------------
(Former Address of principal executive office)
(702) 795-4333
--------------
(Registrant's telephone number, including area code)
Securities registered pursuant to Section 12 (b) of the Act:
None
----
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.
X Yes No
----- -----
State the number of shares outstanding of each of the registrants classes of
common stock, as of the latest practicable date.
2
March 31, 1997
Common Voting Stock 25,394,300
PART I - FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
The unaudited financial statements of the Registrant required to be filed with
this 10-QSB Quarterly Report were prepared by management, and commence of the
following page, together with Related Notes. In the opinion on management, the
Financial Statements fairly present the financial condition of the Registrant.
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL STATEMENTS
LIQUIDITY AND CAPITAL RESOURCES
Since the reverse acquisition of Amazon Natural Treasures, Inc., (NV) the
Company has had limited operations and has made preparation to launch more
extensive operations in the near future. Currently, the Company's capital
resources are inadequate for this purpose. To finance these activities the
Company seeks to do a private placement memorandum offering.
RESULTS OF OPERATIONS
The Company does have limited operations and costs attributed to development of
future operations. In the quarter ended March 31, 1997, the Company lost
$58,665. In the quarter ended March 31, 1997, the Company lost $59,488.
PLAN OF OPERATION
In March 1997, the Board of Directors approved an exchange of common shares with
Amazon Natural Treasures, Inc., a privately held Nevada Company. Amazon Natural
Treasures, Inc., is a PhytoTherapy Health Maintenance Company. They produce and
distribute health supplements derived from plants and related species for the
cure and treatment of human illnesses and diseases. The Board of Directors felt
this would offer shareholders a viable business opportunity for the future.
3
Amazon Natural Treasures, Inc.
Balance Sheets
March 31, 1997 (Unaudited) and December 31, 1996
Unaudited
1997 1996
--------- ---------
ASSETS
Current Assets
Cash $ 6,602 $ 1,390
Stock Subscription Receivable -0- 2,000
Inventory 33,649 38,149
Total Current Assets 40,251 41,539
Property & Equipment
Furniture, Fixtures and Equipment 96,523 69,435
Less Accumulated Depreciation (27,386) (22,475)
--------- ---------
Total Property & Equipment 69,137 46,960
Other Assets
Deposits 5,670 5,670
Organization Costs - Net 6,581 7,024
License & Trademarks 5,000 5,000
Total Other Assets 17,251 17,694
--------- ---------
TOTAL ASSETS $ 126,639 $ 106,193
========= =========
Amazon Natural Treasures, Inc.
4
Balance Sheets -Continued-
March 31, 1997 (Unaudited) and December 31, 1996
Unaudited
1997 1996
--------- ---------
LIABILITIES & STOCKHOLDERS' EQUITY
Current Liabilities
Accounts Payable $ 55,770 $ 59,549
Accrued Expenses 2,259 1,475
Payroll Taxes 2,815 1,161
Customer Deposits 5,000 5,000
Short Term Notes Payable -0- 1,943
--------- ---------
Total Current Liabilities 65,844 69,128
Long Term Liabilities 55,342 40,000
--------- ---------
Total Liabilities 121,186 109,128
Stockholders' Equity
500,000,000 Common Shares Authorized
At $0.001 Par Value; 25,394,300 Shares
and 24,664,300 Shares Issued
and Outstanding Respectively 25,394 24,664
Paid In Capital 278,232 211,088
Accumulated Deficits (298,173) (238,687)
--------- ---------
Total Stockholders' Equity 5,453 (2,935)
--------- ---------
TOTAL LIABILITIES &
STOCKHOLDERS' EQUITY $ 126,639 $ 106,193
========= =========
The accompanying notes are an integral part of these financial statements
Amazon Natural Treasures, Inc.
Statements of Operations -Unaudited-
5
For the Period January 1, 1997 to March 31, 1997
and January 1, 1996 to March 31, 1996
(Unaudited)
1997 1996
---------- ---------
Revenues $ 16,553 $ 16,325
Costs of Sales 6,042 24,950
---------- ---------
Gross Margin 10,511 (8,625)
Expenses
Taxes 1,419 -0-
Depreciation 4,911 3,149
Rent 16,536 3,413
Telephone 603 16,099
Maintenance 121 3,800
General & Administrative 46,409 25,569
---------- ---------
Total Expenses 69,999 50,030
---------- ---------
Net Loss $ (59,488) $ (58,655)
========== =========
Loss Per Share (.00) (.01)
Shares Outstanding at End of Period 24,664,300 6,400,000
6
Amazon Natural Treasures, Inc.
Statements of Cash Flows - Unaudited- For the Period
January 1, 1997 to March 31, 1997
and January 1, 1996 to March 31, 1996
1997 1996
-------- --------
Cash Flows from Operating Activities
Net Loss $(59,488) $(58,655)
Adjustments to Reconcile Net Loss
to Net Cash
Depreciation 4,911 3,149
Amortization 433 393
Rounding 1 -0-
Changes in Operating Assets & Liabilities
Decrease (Increase) in Inventory 4,500 (5,950)
Decrease in Accounts Payable (1,341) -0-
-------- --------
Net Cash Used by Operating
Activities (50,974) (61,063)
Cash Flows from Investing Activities
Equipment Purchase (27,088) -0-
Cash Flows from Financing Activities
Sale of Common Shares 69,875 -0-
Contributed Cash -0- 843
Increase in Notes Payable 13,399 59,500
-------- --------
Net Cash Provided by Financing
Activities 83,274 60,343
-------- --------
Increase (Decrease) in Cash 5,212 (720)
Cash at Beginning of Period 1,390 3,640
-------- --------
Cash at End of Period $ 6,602 $ 2,920
======== ========
Disclosures from Operating Activities
Interest $ 784 $ -0-
Taxes -0- -0-
7
Amazon Natural Treasures, Inc.
Note to Financial Statements
NOTE #1 - Statement Preparation
The Company has prepared the accompanying financial statements with
interim financial reporting requirements promulgated by the Securities &
Exchange Commission. The information furnished reflects all adjustments which
are, in the opinion of management necessary for a fair presentation of financial
position and results of operations.
The financial statements should be read in conjunction with the financial
statements and notes thereto included in the Company's 1996 10-K report and
subsequent reports on Form 8-K.
8
PART II - OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
None; not applicable.
ITEM 2. CHANGES IN SECURITIES
None; not applicable.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None; not applicable.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
None; not applicable.
ITEM 5. OTHER INFORMATION
None; not applicable.
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
(A) Exhibits
None.
9
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this to be signed on its behalf by the undersigned
thereunto duly authorized.
AMAZON NATURAL TREASURES, INC.
Date: __________________________ By: ___________________________________
Michael Sylver President & Chief Financial Officer
Date: __________________________ By: ___________________________________