SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-QSB
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended December 31, 2000
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 for the transition period from __________________
to __________________
Commission File Number 0-29389
CIK Number 0001092801
OUTER BANKS INVESTMENTS, INC.
(Exact Name of small business issuer as specified in its charter)
Delaware 33-0619522
(State or other Jurisdiction of I.R.S. Employer Identi-
Incorporation or Organization fication
24351 Pasto Road, #B, Dana Point, California 92629
(Address of Principal Executive Offices) (Zip Code)
(949) 489-2400
(Issuer's Telephone Number, including Area Code)
Indicate by check mark whether the Registrant (i) 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 (of for such shorter period that the
Registrant was required to file such reports) and (ii) has been subject 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 equity, as of the latest practicable date.
Common Stock, $.001 par value 1,000,000
- ---------------------------------- --------------------
Title of Class Number of Shares outstanding
at December 31, 2000
Transitional Small Business Format Yes No X
No exhibits included.
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OUTER BANKS INVESTMENTS, INC.
(A Company in the Development Stage)
BALANCE SHEETS
ASSETS
June 30, December 31,
2000 2000
TOTAL ASSETS $ $
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable $ 108 $ 108
Accounts payable - related party 1,661 1,661
TOTAL LIABILITIES $ 1,769 $ 1,769
STOCKHOLDERS' EQUITY
Preferred Stock, $.001 par value; 1,000,000 shares
authorized; no shares issued and outstanding
Common Stock, $.001 par value; 20,000,000 shares
authorized; 1,000,000 shares issued and outstanding 1,000 1,000
Additional paid-in capital 15 15
Accumulated deficit during the development stage (2,784) (2,784)
TOTAL STOCKHOLDERS' EQUITY (1,769) (1,769)
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ $
The accompanying notes are an integral part of
the financial statements.
2
OUTER BANKS INVESTMENTS, INC.
(A Company in the Development Stage)
STATEMENTS OF OPERATIONS
CUMULATIVE
FOR THE SIX FOR THE THREE FROM INCEPTION
MONTHS ENDED MONTHS ENDED (April 20, 1994)
December 31, December 31, TO
2000 1999 2000 1999 December 31, 2000
REVENUES $ $ $ $ $
OPERATING EXPENSES
General and Administrative 768 1,769
Amortization 1,015
TOTAL OPERATING EXPENSES 768 2,784
NET (LOSS) (768) $ $ (2,784)
NET (LOSS) PER SHARE $ $ (Nil) $ $ $ (Nil)
WEIGHTED AVERAGE NUMBER
OF SHARES OUTSTANDING 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000
See accompanying Notes to Financial Statements.
3
OUTER BANKS INVESTMENTS, INC.
(A Company in the Development Stage)
STATEMENTS OF CASH FLOWS
CUMULATIVE
FOR THE SIX FOR THE THREE FROM INCEPTION
MONTHS ENDED MONTHS ENDED (April 20, 1994)
December 31, December 31, TO
2000 1999 2000 1999 December 31, 2000
CASH FLOWS FROM OPERATING
ACTIVITIES
Net (Loss) $ $ (768) $ $ $ (2,784)
Add item not requiring the
use of cash - amortization 1,015
Increase (decrease) in accounts
payable 768 1,769
Net cash flows from operating
activities
CASH FLOWS FROM INVESTING ACTIVITIES
Organizational Costs (1,015)
CASH FLOWS FROM FINANCING
ACTIVITIES
Sale of Common Stock 1,015
Net Cash flows from financing
activities 1,015
NET INCREASE (DECREASE) IN CASH
CASH BALANCE AT BEGINNING
OF PERIOD
CASH BALANCE AT END OF
PERIOD $ $ $ $ $
See accompanying Notes to Financial Statements.
4
OUTER BANKS INVESTMENTS, INC.
(A Company in the Development Stage)
NOTES TO CONDENSED FINANCIAL STATEMENTS
(UNAUDITED)
December 31, 2000
1. Comments
The accompanying financial statements are unaudited, but in the opinion
of the management of the Company, contain all adjustments, consisting
of only normal recurring accruals, necessary to present fairly the
financial position at December 31, 2000, the results of operations for
the six and three months ended December 31, 2000 and 1999, and the cash
flows for the six and three months ended December 31, 2000 and 1999.
Reference is made to the Company's Form 10-KSB for the year ended June
30, 2000. The results of operations for the six and three months ended
December 31, 2000 are not necessarily indicative of the results of
operations to be expected for the full fiscal year ending June 30,
2001.
Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND
FINANCIAL CONDITION
The Company has limited working capital and no activities.
PART II. OTHER INFORMATION
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
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Item 5. OTHER INFORMATION - None
Item 6. EXHIBITS AND REPORTS ON FORM 8-K
Exhibits--None
Reports on Form 8-K--None.
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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.
OUTER BANKS INVESTMENTS, INC.
Date: January 31, 2001 By:/s/ Jehu Hand
-------------
Jehu Hand,
President and Chief Financial
Officer (chief financial officer
and accounting officer and duly
authorized officer)
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