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 June 30, 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.)
7641 E. Gray Rd., Suite G, Scottsdale, AZ 85260
(Address of principal executive offices)
Registrant's telephone number, including area code (480) 348-6464
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 August 14,
2001.
PART I - FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
INDEPENDENT AUDITORS' REPORT
Board of Directors August 6, 2001
Melloncamp, Inc.
Las Vegas, Nevada
We have compiled the accompanying balance sheets of Melloncamp, Inc.
as of June 30, 2001 and June 30, 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 Enterprise)
BALANCE SHEETS
June 30,2001, June 30,2000, and December 31,2000
<Table>
<s> <c> <c> <c>
Unaudited Unaudited Audited
June 30, 2001 June 30, 2000 December 31, 1999
ASSETS
CURRENT ASSETS
Cash $ - $ - $ -
PROPERTY AND EQUIPMENT -------------- ------------- ---------------
$ - $ - $ -
============== ============= ===============
LIABILITIES AND STOCKHOLDERS'
EQUITY
CURRENT LIABILITIES
Loan payable $900 $900 $900
TOTAL CURRENT LIABILITIES
STOCKHOLDERS' EQUITY
Common stock, $.001 par value,
25,000,000 shares authorized,
3,000,000 shares issued and
outstanding 3,000 3,000 3,000
Preferred stock, $.001 par
value,
5,000,000 shares authorized, - - -
no
shares issued and
outstanding
Deficit accumulated during
development stage (3,900) (3,900) (3,900)
-------------- ------------- ---------------
TOTAL STOCKHOLDERS' EQUITY (900) (900) 900
-------------- ------------- ---------------
$ - $ - $ -
============== ============= ===============
</Table>
See accompanying accountant's report.
The accompanying notes are an integral part of these financial
statementsMELLONCAMP, INC.
A development stage enterprise
Statements of Income
For the Three Months Ended June 30, 2001 and June 30,2000,
The Six Months Ended June 30, 2001 and June 30, 2000,
And the Period February 19, 1998(inception) to June 30,2001
<Table>
<s> <c> <c> <c> <c>
February 19,
1998
Unaudited Unaudited (inception)
Three Months Ended Six Months Ended to
June 30, June 30, 2000 June 30, June 30, June 30, 2001
2001 2001 2000
REVENUE $ - $ - $ - $ - $ -
COST OF SALES - - - - -
---------- ---------- ---------- --------- ----------
GROSS PROFIT - - - - -
OPERATING EXPENSES
Filing Fees - - - - 300
Professional Fees - 900 900 3,600
---------- ---------- ---------- --------- ----------
NET INCOME (LOSS) BEFORE
INCOME TAXES - (900) - (900) (3,900)
INCOME TAXES - - - - -
---------- ---------- ---------- --------- ----------
NET INCOME (LOSS) $ - $(900) $ - $(900) $(3,900)
========== ========== ========== ========= ==========
EARNINGS PER SHARE OF COMMON $ - $ - $ - $ -
STOCK
WEIGHTED AVERAGE NUMBERS OF
SHARES OUTSTANDING 3,000,000 3,000,000 3,000,000 3,000,000
</Table>
See accompanying accountant's report.
The accompanying notes are an integral part of these financial statements
Statements of Income
MELONCAMP, INC.
(A Development Stage Company)
STATEMENT OF STOCKHOLDERS' EQUITY
<Table>
<s> <c> <c> <c> <c> <c> <c>
Preferred Stock Common Stock Stock Paid in Deficit Total
Stock Amount Amount Capital Accumulated
Amount During
Development
Stage
Balance February
25, 1998 $ - $ - $ - $ - $ - $ - $ -
Stock Issued - - 3,000,000 3,000 - - 3,000
Retained Earnings
(Loss) - - - - - (3,000) (3,000)
------- ------- ----------- -------- -------- ---------- ---------
Balance December
31, 1998 - - 3,000,000 3,000 - (3,000) -
Retained Earnings
(Loss) - - - - - - -
------- ------- ----------- -------- -------- ---------- ---------
Balance December
31, 1999 - - 3,000,000 3,000 - (3,000) -
Retained Earnings
(Loss) - - - - - (900) (900)
------- ------- ----------- -------- -------- ---------- ---------
Balance December
31, 2000 - - 3,000,000 3,000 - (3,900) (900)
Retained earnings
(loss) - - - - - -
------- ------- ----------- -------- -------- ---------- ---------
Balance March 31,
2001 - $ - 3,000,000 $ 3,000 - $ (3,900) $ (900)
======= ======= =========== ======== ======== ========== =========
</Table>
See accompanying accountant's report.
The accompanying notes are an integral part of these financial statements.
MELLONCAMP, INC.
(A Development Stage Enterprise)
Statements of Cash Flows
For the Six Months Ended June 30, 2001 and June 30, 2000,
The Year Ended December 31, 2000
And the Period February 19, 1998 (inception) to June 30, 2001
<Table>
<s> <c> <c> <c> <c> <c>
Unaudited Unaudited February 19, 1998
Three Months Ended Six Months Ended (inception) to
June 30, June 30, June 30, June 30, June 30, 2000
2001 2000 2001 2000
Net Income/(Loss) $ - $ - $(3,900)
Adjustments to
reconcile net income to
net cash provided by
operating activities:
Loan payable - - - - 900
--------- --------- ---------- --------- ---------
Cash Used in Operations - - - - (3,000)
--------- --------- ---------- --------- ---------
Cash Used in Investing
Activities - - - - -
--------- --------- ---------- --------- ---------
Cash Provided by
Financing Activities
Stock Issued - - - - 3,000
--------- --------- ---------- --------- ---------
Net Change in Cash - - - - -
Beginning Balance - - - - -
--------- --------- ---------- --------- ---------
Ending Cash Balance $ - $ - $ - $ - $ -
========= ========= ========== ========= =========
</Table>
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES
Professional fees incurred by the Company were paid directly by a shareholder of
the company
See accompanying accountant's report.
The accompanying notes are an integral part of these financial statements.
MELLONCAMP, INC.
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
June30, 2001. December 31, 2000 and June 30,2000
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 June 30, 2001, December 31, 2000 and June 30, 2000, the Company had
3,000,000 shares of common stock, par value $0.001, 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
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: August 14, 2001