UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
10-Q
QUARTERLY REPORT PURSUANT TO SECTION 13 OR
15(S) OF THE SECURITIES ACT OF 1934
FOR THE QUARTER ENDED COMM. FILE #0-5169
June 30, 1996
SAWYER-ADECOR INTERNATIONAL, INC.
- --------------------------------------------------------------
(Exact name of registrant)
Arizona 95-2782920
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(State of Incorporation) (IRS Employer
Identification No.)
9608 Windham Court, Stockton, CA 95209
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number: (209) 473-2239
Securities registered pursuant
to Section 12(b) of the Act: None
Securities registered pursuant
to Section 12(g) of the Act: None
Indicate by check mark whether Registrant (1) has filed all
annual, quarterly and other reports required to be filed with the
Commission and (2) has been subject to the filing requirements for
at least the last 90 days.
Yes [ X ] No [ ]
Class Outstanding at
Common Stock $0.20 par value June 30, 1996
3,015,551 share
2
PART I - FINANCIAL INFORMATION
ITEM 1. Financial Statements.
See Financial Statements attached hereto as
Exhibit "A".
ITEM 2. Management's Discussion and Analysis of
Financial Condition and Results of Operations.
The financial statements accurately portray
the financial condition of the corporation.
There were no significant changes in the
financial statements when comparing the year
end report with the quarter ending June 30,
1996.
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.
SAWYER ADECOR INTERNATIONAL, INC.
By: /s/Carol Garvic
-------------------------
CAROL GARVIC, President
August 13, 1996
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EXHIBIT A
- --------- SAWYER-ADECOR INTERNATIONAL INC.
Balance Sheet
3/31/96 6/30/96
----------- -----------
CURRENT ASSETS
Cash and Cash Equivalents $ 1,829 $ 72
Marketable Securities 6,250 6,250
----------- -----------
Total Current Assets 8,079 6,322
FIXED ASSETS
Property and Equipment, Net
of Accum. Depreciation
----------- -----------
Total Assets $ 8,079 $ 6,322
=========== ===========
LIABILITIES AND SHAREHOLDER EQUITY
CURRENT LIABILITIES
Accrued Payroll and
Director Fee $ 2,246 $ 2,246
Payroll Taxes Payable 2,383 1,105
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Total Current Liabilities 4,629 3,351
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SHAREHOLDERS' EQUITY
Common Stock Issued 567,219 567,219
Paid in Capital 2,859,352 2,859,352
Retained Earnings (Deficit) (3,423,121) (3,423,600)
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Total Stockholders Equity 3,450 2,971
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Total Liabilities and
Stock Equity $ 8,079 $ 6,322
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4
SAWYER-ADECOR INTERNATIONAL INC.
STATEMENT OF OPERATIONS AND ACCUMULATED DEFICIT
4/1/95 to 4/1/96 to
3/31/96 6/30/96
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Income
Royalty Income $ 223 $
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OPERATING EXPENSES
Officers Salary 24,186
Directors Fee 800
Taxes and Licenses 1,100
Payroll Taxes 2,081
Depreciation 20
Telephone 1,333 98
Office Supplies 1,272 58
Rent 150
Audit and Bookkeeping Fee 2,050
Sec Filing 250
Bank Charges 100 46
Miscellaneous 797
Travel 27
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Total Operating Expenses 33,889 479
Net Operating Loss (33,666) (479)
OTHER INCOME AND EXPENSE
Interest Income 43
Unrealized Loss on M. Securities (58)
Miscellaneous Non-Op Income 4,985
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Total Other Income 4,970
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Net Loss (28,696) (479)
Retained Earnings (Accum. Def.)
Beginning of Year (3,394,425) (3,423,121)
Retained Earnings (Accum Def.)
End of Year (3,423,121) (3,423,600)