UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
10-Q
QUARTERLY REPORT PURSUANT TO SECTION 13 OR
15(d) OF THE SECURITIES ACT OF 1934
FOR THE QUARTER ENDED COMM. FILE #0-5169
September 30, 1996
SAWYER-ADECOR INTERNATIONAL, INC.
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(Exact name of Registrant as specified in its charter)
Arizona 95-2782920
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(State or other jurisdiction of (IRS Employer
incorporation of organization) Identification No.)
9608 Windham Court, Stockton, California 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 September 30, 1996
3,013,551 shares
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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 quarters
ending June 30 and September 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
November 13, 1996
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EXHIBIT A
- --------- SAWYER-ADECOR INTERNATIONAL INC.
Balance Sheet
6/30/96 9/30/96
----------- ------------
ASSETS
Cash and Cash Equivalents $ 72 $ 1,637
Marketable Securities 6,250
----------- -----------
Total Current Assets 6,322 1,637
FIXED ASSETS
Property and Equipment, Net
of Accum. Depreciation
----------- -----------
Total Assets $ 6,322 $ 1,637
=========== ===========
LIABILITIES AND SHAREHOLDER EQUITY
CURRENT LIABILITIES
Accrued Payroll and
Directors Fee $ 2,246 $ 246
Accrued Other Expenses 1,800
Payroll Taxes Payable 1,105 1,759
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Total Liabilities 3,351 3,805
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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) (3,423,600) (3,428,739)
----------- -----------
Total Stockholders Equity 2,971 (2,168)
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Total Liabilities and
Stock Equity $ 6,322 $ 1,637
=========== ===========
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SAWYER-ADECOR INTERNATIONAL INC.
STATEMENT OF OPERATIONS AND ACCUMULATED DEFICIT
4/1/96 to 7/1/96 to
6/30/96 9/30/96
----------- -----------
Income
Royalty Income $ $ 48
----------- -----------
TOTAL INCOME $ $ 48
OPERATING EXPENSES
Auto & Travel 27 158
Office Expense 58 207
Audit and Bookkeeping Fee 2,650
Sec Filing 250 45
Telephone 98 299
Bank Charges 46 51
Taxes 201
----------- -----------
Total Operating Expenses 479 3,611
OTHER INCOME AND EXPENSE
Loss on Sale of Stock 1,575
----------- -----------
Net Loss $ (479) $ (5,138)
Retained Earnings (Accum. Def.)
Beginning $(3,423,121) (3,423,600)
Retained Earnings (Accum Def.)
Ending (3,423,600) (3,428,738)