U.S. 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: March 31, 2003
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
COMMISSION FILE NUMBER: 333-43126
MOBILE DESIGN CONCEPTS, INC.
(Exact name of registrant as specified in its charter)
NEVADA 87-0650219
(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
6500 S. 400 W., Suite C, Salt Lake City, Utah 84107
(Address of principal executive offices)
(801) 266-2420
(Registrant's telephone number, including area code)
(Former name, former address and former fiscal year, if changed since last
report)
Check whether the issuer (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 report(s), and (2) has been subject to such filing
requirements for the past 90 days. YES [X] NO [ ]
The number of $.001 par value common shares outstanding at March 31, 2003:
4,812,800
PART I - FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
See attached.
MOBILE DESIGN CONCEPTS, INC.
[A Development Stage Company]
UNAUDITED CONDENSED FINANCIAL STATEMENTS
MARCH 31, 2003
MOBILE DESIGN CONCEPTS, INC.
[A Development Stage Company]
CONTENTS
PAGE
- Unaudited Condensed Balance Sheets,
March 31, 2003 and December 31, 2002 2
- Unaudited Condensed Statements of Operations,
for the three months ended March 31, 2003
and 2002 and for the period from inception on
March 10, 2000 through March 31, 2003 3
- Unaudited Condensed Statements of Cash Flows,
for the three months ended March 31, 2003
and 2002 and for the period from inception on
March 10, 2000 through March 31, 2003 4
- Notes to Unaudited Condensed Financial Statements 5 - 9
MOBILE DESIGN CONCEPTS, INC.
[A Development Stage Company]
UNAUDITED CONDENSED BALANCE SHEETS
ASSETS
March 31, December 31,
2003 2002
___________ ___________
CURRENT ASSETS:
Cash $ 39,294 $ 36,584
___________ ___________
Total Current Assets 39,294 36,584
ASSETS OF DISCONTINUED OPERATIONS - 5,575
___________ ___________
$ 39,294 $ 42,159
___________ ___________
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $ 1,475 $ 1,730
Accounts payable - related party 5,045 5,045
___________ ___________
Total Current Liabilities 6,520 6,775
___________ ___________
STOCKHOLDERS' EQUITY:
Preferred stock, $.001 par value,
1,000,000 shares authorized,
no shares issued and outstanding - -
Common stock, $.001 par value,
50,000,000 shares authorized,
4,812,800 shares issued and
outstanding 4,813 4,813
Capital in excess of par value 68,770 68,770
Deficit accumulated during the
development stage (40,809) (38,199)
___________ ___________
Total Stockholders' Equity 32,774 35,384
___________ ___________
$ 39,294 $ 42,159
___________ ___________
NOTE: The balance sheet at December 31, 2002 was taken from the audited
financial statements at that date and condensed.
The accompanying notes are an integral part of these unaudited condensed
financial statements.
-2-
MOBILE DESIGN CONCEPTS, INC.
[A Development Stage Company]
UNAUDITED CONDENSED STATEMENTS OF OPERATIONS
For the Three From Inception
Months Ended on March 10,
March 31, 2000 Through
_______________________ March 31,
2003 2002 2003
_________ __________ _________
REVENUE $ - $ - $ -
EXPENSES:
General and administrative 2,610 - 2,610
_________ __________ _________
LOSS BEFORE INCOME TAXES (2,610) - (2,610)
CURRENT TAX EXPENSE - - -
DEFERRED TAX EXPENSE - - -
_________ __________ _________
LOSS FROM CONTINUING
OPERATIONS (2,610) - (2,610)
_________ __________ _________
DISCONTINUED OPERATIONS:
Loss from operations of
discontinued mobile kiosk
business (net of $0 in
income taxes) - (3,783) (38,199)
Gain (loss) on disposal of
discontinued operations (net
of $0 in income taxes) - - -
_________ __________ _________
LOSS FROM DISCONTINUED
OPERATIONS - (3,783) (38,199)
_________ __________ _________
NET LOSS $ (2,610) $ (3,783) $(40,809)
_________ __________ _________
LOSS PER COMMON SHARE:
Continuing operations $ (.00) $ - $ (.00)
Operations of discontinued
mobile kiosk business - (.00) (.01)
Gain (loss) on disposal of
discontinued operations - - -
_________ __________ _________
Net Loss Per Common Share $ (.00) $ (.00) $ (.01)
_________ __________ _________
The accompanying notes are an integral part of these unaudited condensed
financial statements.
-3-
MOBILE DESIGN CONCEPTS, INC.
[A Development Stage Company]
UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS
For the Three From Inception
Months Ended on March 10,
March 31, 2000 Through
___________________ March 31,
2003 2002 2003
_________ ________ _________
Cash Flows from Operating Activities:
Net loss $ (2,610) $(3,783) $(40,809)
Adjustments to reconcile net loss
to net cash used by operating
activities:
Depreciation - 1,368 10,030
Impairment loss - - 13,312
Changes in assets and liabilities:
Increase (decrease) in
accounts payable (255) 40 1,475
Increase in accounts payable
- related party - - 5,045
_________ ________ _________
Net Cash (Used) by
Operating Activities (2,865) (2,375) (10,947)
_________ ________ _________
Cash Flows from Investing Activities:
Proceeds from sale of
property and equipment 5,575 - 5,575
Payments for property and equipment - - (28,917)
_________ ________ _________
Net Cash Provided (Used) by
Investing Activities 5,575 - (23,342)
_________ ________ _________
Cash Flows from Financing Activities:
Proceeds from issuance of common stock - - 87,200
Payments for stock offering costs - - (13,617)
Proceeds from line of credit - - 10,606
Payments on line of credit - - (10,606)
_________ ________ _________
Net Cash Provided by
Financing Activities - - 73,583
_________ ________ _________
Net Increase (Decrease) in Cash 2,710 (2,375) 39,294
Cash at Beginning of Period 36,584 43,839 -
_________ ________ _________
Cash at End of Period $ 39,294 $41,464 $ 39,294
_________ ________ _________
Supplemental Disclosures of Cash Flow Information:
Cash paid during the period for:
Interest $ - $ - $ 465
Income taxes $ - $ - $ -
Supplemental Schedule of Noncash Investing and Financing Activities:
For the three months ended March 31, 2003:
None
For the three months ended March 31, 2002:
None
The accompanying notes are an integral part of these unaudited condensed
financial statements.
-4-
MOBILE DESIGN CONCEPTS, INC.
[A Development Stage Company]
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Organization - Mobile Design Concepts, Inc. ("the Company") was organized
under the laws of the State of Nevada on March 10, 2000. The Company was
formed to design, manufacture, and lease mobile kiosks and other
structures. The Company discontinued its mobile kiosk business effective
December 31, 2002 [See Note 2] and is currently considering other business
opportunities. The Company has not yet generated significant revenues and
is considered a development stage company as defined in Statement of
Financial Accounting Standards No. 7. The Company has, at the present
time, not paid any dividends and any dividends that may be paid in the
future will depend upon the financial requirements of the Company and
other relevant factors.
Condensed Financial Statements - The accompanying financial statements
have been prepared by the Company without audit. In the opinion of
management, all adjustments (which include only normal recurring
adjustments) necessary to present fairly the financial position, results
of operations and cash flows at March 31, 2003 and 2002 and for the
periods then ended have been made.
Certain information and footnote disclosures normally included in
financial statements prepared in accordance with generally accepted
accounting principles in the United States of America have been condensed
or omitted. It is suggested that these condensed financial statements be
read in conjunction with the financial statements and notes thereto
included in the Company's December 31, 2002 audited financial statements.
The results of operations for the periods ended March 31, 2003 are not
necessarily indicative of the operating results for the full year.
Cash and Cash Equivalents - The Company considers all highly liquid debt
investments purchased with a maturity of three months or less to be cash
equivalents.
Property and Equipment - Property and equipment are stated at cost.
Expenditures for major renewals and betterments that extend the useful
lives of property and equipment are capitalized, upon being placed in
service. Expenditures for maintenance and repairs are charged to
operating expense as incurred. Depreciation is computed on a straight-
line basis over the estimated useful lives of the assets, which ranges
from three to ten years. The Company has adopted Statement of Financial
Accounting Standards No. 144 "Accounting for the Impairment or Disposal of
Long-Lived Assets". SFAS No. 144 modifies previous disclosure
requirements and requires additional disclosure for assets held for sale.
Revenue Recognition - The Company recognizes revenue based on the terms of
lease agreements with third parties.
Discontinued Operations - The Company has adopted Statement of Financial
Accounting Standards No. 144 "Accounting for the Impairment or Disposal of
Long-Lived Assets". SFAS No. 144 modifies previous disclosures and
requires additional disclosures for discontinued operations and the assets
associated with discontinued operations.
-5-
MOBILE DESIGN CONCEPTS, INC.
[A Development Stage Company]
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Continued]
Loss Per Share - The computation of loss per share is based on the
weighted average number of shares outstanding during the period presented
in accordance with Statement of Financial Accounting Standards No. 128,
"Earnings Per Share" [See Note 9].
Accounting Estimates - The preparation of financial statements in
conformity with generally accepted accounting principles in the United
States of America requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities, the
disclosures of contingent assets and liabilities at the date of the
financial statements, and the reported amount of revenues and expenses
during the reported period. Actual results could differ from those
estimated.
Recently Enacted Accounting Standards - Statement of Financial Accounting
Standards ("SFAS") No. 141, "Business Combinations", SFAS No. 142,
"Goodwill and Other Intangible Assets", SFAS No. 143, "Accounting for
Asset Retirement Obligations", SFAS No. 144, "Accounting for the
Impairment or Disposal of Long-Lived Assets", SFAS No. 145, "Rescission of
FASB Statements No. 4, 44, and 64, Amendment of FASB Statement No. 13, and
Technical Corrections", SFAS No. 146, "Accounting for Costs Associated
with Exit or Disposal Activities", SFAS No. 147, "Acquisitions of Certain
Financial Institutions - an Amendment of FASB Statements No. 72 and 144
and FASB Interpretation No. 9", and SFAS No. 148, "Accounting for Stock-
Based Compensation - Transition and Disclosure - an Amendment of FASB
Statement No. 123", were recently issued. SFAS No. 141, 142, 143, 145,
146, 147 and 148 have no current applicability to the Company or their
effect on the financial statements would not have been significant. The
Company has adopted SFAS No. 144 and has applied it to the year ended
December 31, 2002.
Reclassification - The financial statements for periods prior to March 31,
2003 have been reclassified to conform to the headings and classifications
used in the March 31, 2003 financial statements.
NOTE 2 - DISCONTINUED OPERATIONS
On December 31, 2002, the Company discontinued its mobile kiosk business
and, in March 2003, the Company's President resigned. The Company has
accounted for this disposal in accordance with Statement of Financial
Accounting Standards No. 144, "Accounting for the Impairment or Disposal
of Long-Lived Assets".
The assets of the mobile kiosk business held for disposal consist of the
following at:
March 31, December 31,
2003 2002
_________ _________
Lease Properties, net $ - $ 5,575
_________ _________
Total Assets of Discontinued Operations $ - $ 5,575
_________ _________
-6-
MOBILE DESIGN CONCEPTS, INC.
[A Development Stage Company]
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS
NOTE 2 - DISCONTINUED OPERATIONS [Continued]
The following is a summary of the results of operations of the Company's
discontinued mobile kiosk business:
For the Three From Inception
Months Ended on March 10,
March 31, 2000 Through
___________________ March 31,
2003 2002 2003
________ ________ _________
Revenue $ - $ - $ 4,800
General and administrative - (3,783) (29,222)
Impairment loss - - (13,312)
Interest expense - - (465)
________ ________ _________
Net loss $ - $(3,783) $(38,199)
________ ________ _________
NOTE 3 - LEASE AGREEMENT
The Company had leased its modular structure and beverage equipment;
however, the agreement was terminated during 2002.
NOTE 4 - LEASE PROPERTIES
On December 31, 2002, the Company discontinued its mobile kiosk business.
In accordance with the Company's plan of disposal, the carrying amount of
leased properties have been reduced to their net realizable value. The
Company determined to divide its leased properties and sell off the parts.
In January 2003, the Company sold its beverage equipment for $5,575. Due
to the difficulty of moving the kiosk, the Company expects the sale of its
remaining lease property to raise only nominal amounts, if the Company is
able to sell the lease property at all. In December 2002, the Company
recognized an impairment loss of $13,312 to reduce the carrying amount of
the leased properties to their net realizable value. The Company is
actively seeking a buyer and expects to sell its leased properties during
2003.
The following is a summary of lease properties at:
March 31, December 31,
2003 2002
___________ ___________
Lease equipment: modular structure $ 15,740 $ 15,740
Lease equipment: beverage equipment - 13,177
___________ ___________
15,740 28,917
Less: accumulated depreciation (2,755) (10,030)
Less: impairment loss (12,985) (13,312)
___________ ___________
$ - $ 5,575
___________ ___________
-7-
MOBILE DESIGN CONCEPTS, INC.
[A Development Stage Company]
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS
NOTE 4 - LEASE PROPERTIES [Continued]
The modular structure and the beverage equipment were depreciated over
their estimated useful lives of ten and three years, respectively.
Depreciation expense for the three months ended March 31, 2003 and 2002
amounted to $0 and $1,368, respectively.
NOTE 5 - CAPITAL STOCK
Preferred Stock - The Company has authorized 1,000,000 shares of preferred
stock with a $.001 par value, with such rights, preferences and
designations and to be issued in such series as determined by the Board of
Directors. No shares are issued and outstanding at March 31, 2003 and
December 31, 2002.
Common Stock - The Company has authorized 50,000,000 shares of common
stock with a $.001 par value. In June 2001, the Company sold 312,800
shares of its previously authorized but unissued common stock for cash of
$78,200, or $.25 per share. Stock offering costs of $13,617 were offset
against the proceeds.
During April 2000, in connection with its organization, the Company issued
4,500,000 shares of its previously authorized but unissued common stock
for cash of $9,000, or $.002 per share.
NOTE 6 - INCOME TAXES
The Company accounts for income taxes in accordance with Statement of
Financial Accounting Standards No. 109 "Accounting for Income Taxes".
SFAS No. 109 requires the Company to provide a net deferred tax
asset/liability equal to the expected future tax benefit/expense of
temporary reporting differences between book and tax accounting methods
and any available operating loss or tax credit carryforwards. The Company
has available at March 31, 2003 an operating loss carryforwards of
approximately $31,700 which may be applied against future taxable income
and which expire in various years through 2023.
The amount of and ultimate realization of the benefits from the deferred
tax assets for income tax purposes is dependent, in part, upon the tax
laws in effect, the future earnings of the Company, and other future
events, the effects of which cannot be determined. Because of the
uncertainty surrounding the realization of the deferred tax assets, the
Company has established a valuation allowance equal to their tax effect
and, therefore, no deferred tax asset has been recognized. The net
deferred tax assets, which include the net operating loss and the
difference between the book and tax basis of depreciable assets, are
approximately $6,100 and $5,700 as of March 31, 2003 and December 31,
2002, respectively, with an offsetting valuation allowance of the same
amount. The change in the valuation allowance for the three months ended
March 31, 2003 is approximately $400.
NOTE 7 - RELATED PARTY TRANSACTIONS
Accounts Payable - Officers and shareholders of the Company have paid
expenses on behalf of the Company totaling $5,045. These funds are due on
demand and bear no interest.
-8-
MOBILE DESIGN CONCEPTS, INC.
[A Development Stage Company]
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS
NOTE 7 - RELATED PARTY TRANSACTIONS [Continued]
Management Compensation - For the three months ended March 31, 2003 and
2002, the Company did not pay any compensation to any officer or director
of the Company.
Office Space - The Company has not had a need to rent office space. An
officer/shareholder of the Company is allowing the Company to use his
offices as a mailing address, as needed, at no expense to the Company.
The cost value of this service is considered nominal and, therefore, has
not been recorded as an expense by the Company.
NOTE 8 - GOING CONCERN
The accompanying financial statements have been prepared in conformity
with generally accepted accounting principles in the United States of
America, which contemplate continuation of the Company as a going concern.
However, the Company has incurred losses since its inception and has not
yet been successful in establishing profitable operations. These factors
raise substantial doubt about the ability of the Company to continue as a
going concern. In this regard, management is proposing to raise any
necessary additional funds not provided by operations through loans or
additional sales of its common stock. There is no assurance that the
Company will be successful in raising this additional capital or in
achieving profitable operations. The financial statements do not include
any adjustments that might result from the outcome of these uncertainties.
NOTE 9 - LOSS PER SHARE
The following data shows the amounts used in computing loss per share:
For the Three From Inception
Months Ended on March 10,
March 31, 2000 Through
______________________ March 31,
2003 2002 2003
_________ _________ _________
Loss from continuing operations
(numerator) $(2,610) $ - $ (2,610)
Loss from discontinued
operations (numerator) - (3,783) (38,199)
Gain (loss) on disposal of
discontinued operations
(numerator) - - -
_________ _________ _________
Loss available to common
shareholders (numerator) $(2,610) $(3,783) $(40,809)
_________ _________ _________
Weighted average number of
common shares outstanding for
the period (denominator) 4,812,800 4,675,025 4,563,895
_________ _________ _________
Dilutive loss per share was not presented, as the Company had no common
stock equivalent shares for all periods presented that would affect the
computation of diluted loss per share.
-9-
ITEM 2: MANAGEMENT'S DISCUSSION & ANALYSIS OR PLAN OF OPERATIONS
PLAN OF OPERATIONS.
The company was incorporated under the laws of Nevada on March 10, 2000,
is a small start up company that has not yet generated significant revenues
from operations and is considered a development stage company. In August,
2000, the Company filed a registration statement on Form SB-2 with the U.S.
Securities & Exchange Commission under the Securities Act of 1933, to register
the offering, on a "best efforts, no minimum" basis, of up to 500,000 shares
of $.001 par value common stock, at a price of $.25 per share. This
registration statement was declared effective on May 14, 2001. The Company
sold 312,800 shares of common stock and raised gross proceeds of $78,200
pursuant to this offering. The offering closed June 27, 2001. The Company then
began to use the offering proceeds to continue to provide general working
capital for its proposed business operations to design and manufacture mobile
kiosks for use as drive-through beverage units. Since management's
determination is that this business was not successful, operations were
discontinued as of December 31, 2002.
Management's plan of operation for the next twelve months is to continue
using the capital remaining from the offering to provide general working
capital during the next twelve months to continue in existence while
management seeks other business opportunities. The Company has limited
operating capital and no income producing assets. At this time, we do not
know how long it will be necessary to fund necessary expenditures from
existing capital. The Company is not presently engaged in any significant
business activities and has no operations. Presently the Company's principal
activity has been to investigate potential acquisitions. However, the Company
has not located any suitable potential business acquisition and has no plans,
commitments or arrangements with respect to any potential business venture.
There is no assurance the Company could become involved with any business
venture, especially any business venture requiring significant capital. We do
not anticipate any capital commitments for product research and development or
significant purchases of plant or equipment, or any change in the number of
employees.
Since the business was unsuccessful, investors have lost the money
invested and management will not attempt to pursue further efforts with
respect to this business, and it is unlikely the Company would have the
financial ability to do so in any event. Instead management will call a
shareholders meeting to decide whether to liquidate the Company or what
direction the Company will pursue, if any. However, the Company presently
has no commitments or arrangements with respect to any other potential
business venture and there is no assurance the Company could become involved
with any other business venture, especially any business venture requiring
significant capital.
The accompanying financial statements have been prepared in conformity
with generally accepted accounting principles, which contemplate continuation
of the Company as a going concern. However, the Company was only recently
formed and has not been successful in establishing profitable operations.
These factors raise substantial doubt about the ability of the Company to
continue as a going concern. In this regard, management is proposing to raise
any necessary additional funds not provided by operations through loans or
additional sales of its common stock. There is no assurance that the Company
will be successful in raising this
additional capital or achieving profitable
operations. The financial statements do not include any adjustments that might
result from the outcome of these uncertainties.
ITEM 3. CONTROLS AND PROCEDURES.
The issuer's principal executive officer or officers and principal
financial officer or officers, or persons performing similar functions, are
responsible for establishing and maintaining disclosure controls and
procedures (as such term is defined in paragraph (c) of Rule 15d-14) for the
issuer and have:
designed such disclosure controls and procedures to ensure that material
information relating to the issuer, including its consolidated subsidiaries,
is made known to them by others within those entities, particularly during the
period in which the periodic reports are being prepared;
evaluated the effectiveness of the issuer's disclosure controls and
procedures as of a date within 90 days prior to the filing date of the report
(the "Evaluation Date").
Based on their evaluation as of the Evaluation Date, their conclusions
about the effectiveness of the disclosure controls and procedures were that
nothing indicated:
any significant deficiencies in the design or operation of internal
controls which could adversely affect the issuer's ability to record, process,
summarize and report financial data;
any fraud, whether or not material, that involves management or other
employees who have a significant role in the issuer's internal controls; or
any material weaknesses in internal controls that have been or should be
identified for the issuer's auditors and disclosed to the issuer's auditors
and the audit committee of the board of directors (or persons fulfilling the
equivalent function).
Changes in internal controls. There were no significant changes in the
issuer's internal controls or in other factors that could significantly affect
these controls subsequent to the date of the evaluation, including any
corrective actions with regard to significant deficiencies and material
weaknesses.
PART II - OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
The Company is not a party to any material pending legal proceedings. No
such action is contemplated by the Company nor, to the best of its knowledge,
has any action been threatened against the Company.
ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS
(a) No instruments defining the rights of the holders of any class of
registered securities have been materially modified.
(b) No rights evidenced by any class of registered securities have
been materially limited or qualified by the issuance or
modification of any other class of securities.
(c) During the period covered by this report, there were not any
securities that the issuer sold without registering the securities
under the Securities Act.
(d) In August, 2000, the Company filed a registration statement on
Form SB-2 with the U.S. Securities & Exchange Commission under the
Securities Act of 1933, to register the offering, on a "best
efforts, no minimum" basis, of up to 500,000 shares of $.001 par
value common stock, at a price of $.25 per share. This
registration statement was declared effective on May 14, 2001.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
There has not been any material default in the payment of principal,
interest, a sinking or purchase fund installment, or any other material
default not cured within 30 days, with respect to any indebtedness of the
issuer exceeding 5 percent of the total assets of the issuer.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
No matter has been submitted to a vote of security holders during the
period covered by this report, through the solicitation of proxies or
otherwise.
ITEM 5. OTHER INFORMATION
None.
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) Exhibits required by Item 601 of Regulation S-B. None
(b) Reports on Form 8-K. No reports on Form 8-K were filed during the
quarter for which this report is filed.
SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
Mobile Design Concepts, Inc.
Date: May 13, 2003 by: /s/ Lynn Dixon
Lynn Dixon, President and Secretary/Treasurer
CERTIFICATION PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
The undersigned Chief Executive Officer and Chief Financial Officer
certify that this report fully complies with the requirements of Section 13 or
15(d) of the Securities Exchange Act of 1934, and the information contained in
the report fairly presents, in all material respects, the financial condition
and results of operations of the Company.
Date: May 13, 2003 by: /s/ Lynn Dixon
Lynn Dixon, President and Secretary/Treasurer
CERTIFICATIONS*
I, Lynn Dixon, certify that:
1. I have reviewed this quarterly report on Form 10-QSB of Mobile Design
Concepts, Inc., the registrant;
2. Based on my knowledge, this quarterly report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to
make the statements made, in light of the circumstances under which such
statements were made, not misleading with respect to the period covered by
this quarterly report;
3. Based on my knowledge, the financial statements, and other financial
information included in this quarterly report, fairly present in all material
respects the financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;
4. The registrant's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:
a) designed such disclosure controls and procedures to ensure that material
information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities,
particularly during the period in which this quarterly report is being
prepared;
b) evaluated the effectiveness of the registrant's disclosure controls and
procedures as of a date within 90 days prior to the filing date of this
quarterly report (the "Evaluation Date"); and
c) presented in this quarterly report our conclusions about the effectiveness
of the disclosure controls and procedures based on our evaluation as of the
Evaluation Date;
5. The registrant's other certifying officers and I have disclosed, based on
our most recent evaluation, to the registrant's auditors and the audit
committee of registrant's board of directors (or persons performing the
equivalent functions):
a) all significant deficiencies in the design or operation of internal
controls which could adversely affect the registrant's ability to record,
process, summarize and report financial data and have identified for the
registrant's auditors any material weaknesses in internal controls; and
b) any fraud, whether or not material, that involves management or other
employees who have a significant role in the registrant's internal controls;
and
6. The registrant's other certifying officers and I have indicated in this
quarterly report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal controls
subsequent to the date of our most recent evaluation, including any corrective
actions with regard to significant deficiencies and material weaknesses.
Date: May 13, 2003 by: /s/ Lynn Dixon
Lynn Dixon, President & Director
(Chief Executive Officer and Chief Financial Officer)
* Provide a separate certification for each principal executive officer and
principal financial officer of the registrant. See Rules 13a-14 and 15d-14.
The required certification must be in the exact form set forth above.