UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-QSB
QUARTERLY REPORT FOR SMALL BUSINESS ISSUERS SUBJECT TO THE 1934 ACT
REPORTING REQUIREMENTS
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 2001
Commission File No. 000-27139
MELLONCAMP, INC.
(Exact name of registrant as specified in its charter)
Nevada 88-0386352
(State of organization) (I.R.S. Employer Identification No.)
2080 E. Flamingo Rd., Suite 112, Las Vegas, NV 89119
(Address of principal executive offices)
Registrant's telephone number, including area code (702) 650-5660
Check whether the issuer (1) filed all reports required to be file by
Section 13 or 15(d) of the Exchange Act during the past 12 months and
(2) has been subject to such filing requirements for the past 90 days.
No X
There are 3,000,000 shares of common stock outstanding as of March 31,
2001.
PART I - FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
INDEPENDENT AUDITORS' REPORT
Board of Directors May 3, 2001
Melloncamp, Inc.
Las Vegas, Nevada
We have compiled the accompanying balance sheets of Melloncamp,
Inc. as of March 31, 2001 and March 31, 2000, and the related statements
of income, changes in stockholders' equity and cash flows for the nine
months then ended, in accordance with the Statement of Standards for
Accounting and Review Services issued by the American Institute of
Certified Public Accountants.
A compilation is limited to presenting in the form of financial
statements information that is the representation of management. We
have not audited or reviewed the accompanying financial statements and
supplementary information, and, accordingly, do not express an opinion
or any other form of assurance on them.
As discussed in Note 1, the Company has been in the development
stage since its inception on February 19, 1998. Realization of the
major portion of its assets is dependent upon the Company's ability to
meet its future financing requirements, and the success of future
operations. The accompanying financial statements have been prepared
assuming that the Company will continue as a going concern.
The financial statements for the year ended December 31, 2000 and
December 31, 1999, were audited by us and we expressed an unqualified
opinion on the statements in our report dated February 14, 2000. We
have not performed any auditing procedures since that date.
Melloncamp, Inc.
(A Development Stage Company)
BALANCE SHEET
Unaudited Unaudited Audited
March 31, March 31, December 31,
2001 2000 1999
ASSETS
CURRENT ASSETS
Cash -0- -0- -0-
PROPERTY AND EQUIPMENT -0- -0- -0-
====== ====== ======
-0- -0-
LIABILITIES AND STOCKHOLDERS'
EQUITY
CURRENT LIABILITIES
Loan payable 900 -0- 900
--------- -------- --------
TOTAL CURRENT LIABILITIES -0- -0-
-------- --------
STOCKHOLDERS' EQUITY
Common stock, $.001 par value, 3,000 3,000
25,000,000 shares authorized,
3,000,000 shares issued and 3000
outstanding
Preferred stock, $.001 par
value,
5,000,000 shares authorized, -0- -0- -0-
no
shares issued and
outstanding
Deficit accumulated during
development stage (3,900) (3,000) (3,000)
TOTAL STOCKHOLDERS' EQUITY (900) -0- 900
-0- -0- -0-
The accompanying notes are an integral part of these financial
statements.
MELLONCAMP, INC.
(A Development Stage Company)
STATEMENT OF INCOME
For the Three Months Ended March 31, 2001 and March 31, 2000,
the Years ended December 31, 200 and December 31, 1999
and the Period February 19, 1998 (inception) to March 31, 2001
Unaudited Unaudited Audited Audited February
Three Three Year Year 19, 1998
Months Months Ended Ended (inceptio
Ended Ended December 31, December n) to
March 31, March 31, 2000 31, March 31,
2001 2000 2000 2001
REVENUE -0- -0- -0- -0- -0-
COST OF SALES -0- -0- -0- -0- -0-
-------- -------- ---------- -------- --------
GROSS PROFIT -0- -0- -0- -0- -0-
OPERATING EXPENSES
Filing Fees -0- -0- -0- -0- 300
Professional Fees -0- 900 900 -0- 3,600
-------- -------- ---------- -------- --------
-
-0- 900 900 -0- 3,900
-------- -------- ---------- -------- --------
-
NET INCOME (LOSS) (-0-) (900) (900) (-0-)
BEFORE INCOME TAXES (3,900)
INCOME TAXES -0- -0- -0- -0- -0-
-------- -------- ---------- -------- --------
NET INCOME (LOSS) (-0-) (900) (900) (-0-) (3,900)
======== ======== ========== ======== =========
EARNINGS PER SHARE -0- -0- -0- -0-
OF COMMON STOCK
WEIGHTED AVERAGE 3,000,000 3,000,000 3,000,000 3,000,000
NUMBERS OF SHARES
OUTSTANDING
The accompanying notes are an integral part of these financial
statements.
MELLONCAMP, INC.
(A Development Stage Company)
STATEMENT OF STOCKHOLDERS' EQUITY
Preferred Stock Common Stock Stock Paid in Deficit Total
Stock Amount Amount Capital Accumulated
Amount During
Development
Stage
Balance February 19, -0- -0- -0- -0- -0- -0- -0-
1998
Stock Issued -0- -0- 3,000,000 3,000 -0- -0- 3,000
Retained Earnings -0- -0- -0- -0- -0- (3,000) (3,000)
(Loss)
-------- ------- ----------- ------- ------ -------- --------
Balance December 31, -0- -0- 3,000,000 3,000 -0- (3,000) -0-
1998
Retained Earnings -0- -0- -0- -0- -0- -0- -0-
(Loss)
-------- -------- ----------- ------- ------ -------- -------
Balance December 31, -0- -0- 3,000,000 3,000 -0- (3,000) -0-
1999
Retained Earnings -0- -0- -0- -0- -0- (900) (900)
(Loss)
-------- -------- ----------- ------- ------ -------- -------
Balance December 31, -0- -0- 3,000,000 3,000 -0- (3,900) (900)
2000
Retained earnings -0- -0- -0- -0- -0- -0-
(loss)
Balance March 31,
2001 -0- -0- 3,000,000 3,000 -0- (3,900) (900)
======== ======= =========== ======= ====== ======== =======
The accompanying notes are an integral part of these financial statements.
MELLONCAMP, INC.
(A Development Stage Company)
STATEMENT OF CASH FLOWS
For the Three Months Ended March 31, 2001 and March 31, 2000
the Year Ended December 31, 2000 and December 31, 1999
and the Period February 19, 1998 (inception) to March 31, 2001
Unaudited Unaudited Audited Audited February 19,
Three Months Three Months Year Year 1998
Ended Ended Ended Ended (inception) to
March 31, March 30, December 31, December 31, March 31,
2001 2000 2000 1999 2000
Net Income/(Loss) -0- -0- 900 -0- $(3,900)
Adjustments to reconcile -0- -0- -0- -0-
net income to net cash
provided by operating -0-
activities:
Loan payable 900 900
Cash Used in Operations -0- -0- -0- -0- (3,000)
Cash Used in Investing -0- -0- -0- -0- -0-
Activities
Cash Provided by Financing
Activities
Stock Issued -0- -0- -0- -0- 3,000
Net Change in Cash -0- -0- -0- -0- -0-
Beginning Balance -0- -0- -0- -0- -0-
Ending Cash Balance -0- -0- -0- -0- -0-
The accompanying notes are an integral part of these financial statements.
MELLONCAMP, INC.
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
March 31, 2001, December 31, 2000 and March 31, 2000
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Description of Operations
The Company was organized under the laws of the State of Nevada in
1998 and is authorized to do business in the United State. The
Company has no revenue from operations during the period covered
by this financial statement.
Method of Accounting
These financial statements are prepared on the accrual basis of
accounting in accordance with generally accepted accounting
principles. Consequently, revenues are recognized when earned
and expenses are recognized when the obligation is actually
incurred.
Income Taxes and Cash Flows
The Company accounts for income taxes and the statement of cash
flows in accordance with Financial Accounting Standards Board
Statement No. 109 and No. 95.
Cash and Cash Equivalents
Cash and cash equivalents include all highly liquid investments
with a maturity of three months or less when purchased.
NOTE 2: CASH
The Company has no bank accounts at this time.
NOTE 3 - EARNINGS PER SHARE
Earnings per share has been computed by dividing net income/(loss)
by the weighted average number of common shares outstanding for
the period. There are no items which are deemed to be common
stock equivalents during the audit period.
NOTE 4: COMMON STOCK
As of March 31, 2001, December 31, 2000 and March 31, 2000, the
Company had 3,000,000 shares of common stock, par value $.001,
issued and outstanding.
NOTE 5: LEASE COMMITMENTS
The Company currently has no commitments for leases or
contingences.
NOTE 6: USE OF ESTIMATES
The preparation of financial statements in conformity with
Generally Accepted Accounting Principles requires management to
make estimates and assumptions that affect certain reported
amounts and disclosures. Accordingly, actual results could
differ from these estimates.
ITEM 2. MANAGEMENT'S PLAN OF OPERATION
NOTE REGARDING PROJECTIONS AND FORWARD LOOKING STATEMENTS
This statement includes projections of future results and
"forward-looking statements" as that term is defined in Section
27A of the Securities Act of 1933 as amended (the "Securities
Act"), and Section 21E of the Securities Exchange Act of 1934 as
amended (the "Exchange Act"). All statements that are included in
this Registration Statement, other than statements of historical
fact, are forward-looking statements. Although Management
believes that the expectations reflected in these forward-looking
statements are reasonable, it can give no assurance that such
expectations will prove to have been correct. Important factors
that could cause actual results to differ materially from the
expectations are disclosed in this Statement, including, without
limitation, those expectations reflected in forward-looking
statements contained in this Statement.
Plan of Operation
The Company's Plan of Operation has not changed since the filing
of its amended Form 10-SB filed with the SEC on March 1, 2000.
The description of the current plan of operation is incorporated
by reference to Section 2 of its Form 10-SB.
Competition
The Company is an insignificant participant among firms which
engage in business combinations with, or financing of,
development-stage enterprises. There are many established
management and financial consulting companies and venture capital
firms which have significantly greater financial and personal
resources, technical expertise and experience than the Company.
In view of the Company's limited financial resources and
management availability, the Company will continue to be at
significant competitive disadvantage vis-a-vis the Company's
competitors.
Employees
The Company's only employees at the present time are its officers
and directors, who will devote as much time as the Board of
Directors determine is necessary to carry out the affairs of the
Company.
PART II - OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
The Company is not a party to any material pending legal
proceedings and, to the best of its knowledge, no such action has
been threatened by or against the Company.
ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS
No issues of securities and no changes in the existing securities
took place during the period covered by this report. At the end
of the quarter there were 3,000,000 shares of common stock
outstanding.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
No such matters were submitted during the most recent quarter.
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
EXHIBITS
a) The exhibit consisting of the Company's Articles of
Incorporation is attached to the Company's Amended Form 10-SB,
filed on March 1, 2000. This exhibit is incorporated by reference
to that Form.
b) The exhibit consisting of the Company's Bylaws is attached
to the Company's Amended Form 10-SB, filed on March 1, 2000. This
exhibit is incorporated by reference to that Form.
Reports on Form 8-K: None
SIGNATURES
Pursuant to the requirements of Section 12 of the Securities
Exchange Act of 1934, the Registrant has duly caused this
registration statement to be signed on its behalf by the
undersigned, thereunto duly authorized.
Melloncamp, Inc.
By: /s/ Kenneth D. Greble
Kenneth D. Greble, President
Date: May 15, 2001