U.S. SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-QSB Quarterly Report Under the Securities Exchange Act of 1934 For Quarter Ended: December 31, 1999 Commission File Number: 000-24447 PARPUTT ENTERPRISES, INC. (Exact name of small business issuer as specified in its charter) Colorado (State or other jurisdiction of incorporation or organization) 88-1446188 (IRS Employer Identification No.) 12835 E. Arapahoe Road Tower I, Penthouse Englewood, Colorado (Address of principal executive offices) 80112 (Zip Code) (303) 768-9221 (Issuer's Telephone Number) 2851 South Parker Road, Suite 720 Aurora, Colorado 80014 (Former name, former address and former fiscal year, if changed since last report) Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 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: Yes __X__ No ____. The number of shares of the registrant's only class of common stock issued and outstanding, as of December 31, 1999, was 500,000 shares. PART I ITEM 1. FINANCIAL STATEMENTS. The unaudited financial statements for the three month period ended December 31, 1999 are attached hereto. ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following discussion should be read in conjunction with the Company's unaudited financial statements and notes thereto included herein. In connection with, and because it desires to take advantage of, the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, the Company cautions readers regarding certain forward looking statements in the following discussion and elsewhere in this report and in any other statement made by, or on the behalf of the Company, whether or not in future filings with the Securities and Exchange Commission. Forward looking statements are statements not based on historical information and which relate to future operations, strategies, financial results or other developments. Forward looking statements are necessarily based upon estimates and assumptions that are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company's control and many of which, with respect to future business decisions, are subject to change. These uncertainties and contingencies can affect actual results and could cause actual results to differ materially from those expressed in any forward looking statements made by, or on behalf of, the Company. The Company disclaims any obligation to update forward looking statements. The Company generated no revenues during the three month period ending December 31, 1999. Management of the Company anticipates that the Company will not generate any significant revenues until the Company accomplishes its business objective of merging with a nonaffiliated entity or acquiring assets from the same. The Company's securities are currently not liquid. There are no market makers in the Company's securities and it is not anticipated that any market will develop in the Company's securities until such time as the Company successfully implements its business plan of engaging in a business opportunity, either by merger or acquisition of assets. The Company presently has no liquid financial resources to offer such a candidate and must rely upon an exchange of its stock to complete such a merger or acquisition. Because the Company is not required to pay rent or salaries to any of its officers or directors, management believes 2 that the Company has sufficient funds to continue operations through the foreseeable future. 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. ITEM 5. OTHER INFORMATION - NONE. ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - (a) Exhibits EX-27 Financial Data Schedule (b) Reports on Form 8-K None. 3 PARPUTT ENTERPRISES, INC. (A Development Stage Company) Unaudited Balance Sheet Unaudited Audited December 31, September 30, 1999 1999 --------- ----------- ASSETS Current Assets - Cash $ 0 $ 0 --------- ----------- TOTAL ASSETS $ 0 $ 0 ========= =========== LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities $ 0 $ 0 --------- ----------- SHAREHOLDERS' EQUITY Common Stock, $.0001 Par Value; 100,000,000 Shares Authorized, 500,000 Issued and Outstanding at December 31, 1999 and September 30, 1999, respectively $ 50 $ 50 Preferred Stock, $.001 Par Value; 25,000,000 Shares Authorized, No Shares Issued and Outstanding 0 0 Additional Paid In Capital on Common Stock 450 450 Deficit Accumulated During the Development Stage (500) (500) --------- ----------- Total Shareholders' Equity $ 0 $ 0 --------- ----------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 0 $ 0 ========= =========== 4 PARPUTT ENTERPRISES, INC. (A Development Stage Company) Unaudited Statement of Operations For the For the November 4, 1996 Three Months Three Months (Inception) Ended Ended Thru December 31, December 31, December 31, 1999 1998 1999 ------------ ------------ ------------- Revenue $ 0 $ 0 $ 0 ------------ ------------ ------------- Expenses 0 0 500 ------------ ------------ ------------- Net (Loss) Accumulated During The Development Stage $ 0 $ 0 $ (500) ============ ============ ============== Net (Loss) Per Share $ ($0.00) $ ($0.00) $ ($0.00) ============ ============ ============== Common Shares Outstanding 500,000 500,000 500,000 ============ ============ ============== 5 PARPUTT ENTERPRISES, INC. (A Development Stage Company) Unaudited Cash Flow Statement For the For the November 6, 1996 Three Months Three Months (Inception) Ended Ended Thru December 31, December 31, December 31, 1999 1998 1999 ------------ ------------ -------------- Net (Loss) Accumulated During The Development Stage $ 0 $ 0 $ (500) Issuance of Common Stock For Cash Advances & Services 0 0 500 ------------ ------------ ------------- Net Cash Flows From Operations 0 0 0 Cash Flows From Financing Activities: Issuance of Common Stock 0 0 0 ------------ ------------ ------------- Net Cash Provided by Financing Activities 0 0 0 ------------ ------------ ------------- Net Increase (Decrease) in Cash 0 0 0 Cash At Beginning of Period 0 0 0 ------------ ------------ ------------- Cash At End of Period $ 0 $ 0 $ 0 ============ ============ ============= Supplementary Disclosure of Cash Flow Information: Noncash Financing Activities: Common Stock Issued For Cash Advances & Services $ 0 $ 0 $ 500 ============ ============ ============= 6 PARPUTT ENTERPRISES, INC. (A Development Stage) Unaudited Statement of Shareholders' Equity Deficit Accumulated Number of Additional During the Shares Common Paid In Development Common Stock Stock Capital Stage Total ------------ ------ ---------- ----------- ------- Balance at November 4, 1996 0 $ 0 $ 0 $ 0 $ 0 Issuance of Common Stock: November 4, 1996 For Cash Advances and Services At $.001 Per Share 500,000 $ 50 450 0 500 Net (Loss) (500) (500) ------------ ------ ---------- ---------- ------- Balance at September 30, 1997, 1998, & 1999 500,000 50 450 (500) 0 Net (Loss) 0 0 ------------ ------ ---------- ---------- ------- Balance at December 31, 1999 500,000 50 $ 450 $ (500) $ 0 ============ ====== ========== ========== ======= 7 PARPUTT ENTERPRISES, INC. Notes to Unaudited Financial Statements For The Three Month Period Ended December 31, 1999 - -------------------------------------------------- Note 1 - Unaudited Financial Information - ---------------------------------------- The unaudited financial information included for the three month interim period ended December 31, 1999, were taken from the books and records without audit. However, such information reflects all adjustments (consisting only of normal recurring adjustments, which are of the opinion of management, necessary to reflect properly the results of interim period presented). The results of operations for the three month period ended December 31, 1999, are not necessarily indicative of the results expected for the fiscal year ended September 30, 2000. Note 2 - Financial Statements - ----------------------------- Management has elected to omit substantially all footnotes relating to the condensed financial statements of the Company included in the report. For a complete set of footnotes, reference is made to the Company's Form 10-SB as filed with the Securities and Exchange Commission and the audited financial statements for the fiscal year ended September 30, 1999, included therein. 8 SIGNATURES Pursuant to the requirements of Section 12 of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. PARPUTT ENTERPRISES, INC. (Registrant) Dated: February 9, 2000 By: s/Andrew I. Telsey -------------------- Andrew I. Telsey, President 9 PARPUTT ENTERPRISES, INC. EXHIBIT INDEX TO QUARTERLY REPORT ON FORM 10-QSB FOR THE QUARTER ENDED DECEMBER 31, 1999 EXHIBITS Page No. EX-27 Financial Data Schedule..............................................11 10