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 September 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.)
777 N. Rainbow Blvd., Suite 390, Las Vegas, NV 89107
(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 November
14, 2001.
PART I - FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
Michael L. Stuck C.P.A., P.C.
7585 East Redfield Road, Suite 201
Scottsdale, AZ. 85260
480-607-1084
October 29, 2001
Board of Directors and Stockholders
Melloncamp, Inc.
Las Vegas, Nevada
We have compiled the accompanying balance sheets of
Melloncamp, Inc. as of September 30, 2001 and September 30, 2000,
and the related statements of income, changes in stockholders'
equity and cash flows for the periods 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.
We audited the financial statements for the year ended
December 31, 2000, and we expressed an unqualified opinion on the
statements in our report dated February 14, 2001. We have not
performed any auditing procedures since that date.
Melloncamp, Inc.
(a development stage enterprise)
Balance Sheets
September 30, 2001, September 30, 2000 and December 31, 2000
<Table>
<s> <c> <c> <c>
Unaudited Audited
September 30, September 30, December 31,
2001 2001 2000
---------- ---------- --------
ASSETS
CURRENT ASSETS
Cash $ - $ - $ -
PROPERTY AND EQUIPMENT - - -
--------- --------- ---------
$ - $ - $ -
========= ========= =========
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Loan payable $ 900 $ 900 $ 900
STOCKHOLDER'S 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
statements.
Melloncamp, Inc.
(a development stage enterprise)
Statements of Income
For the Three Months Ended September 30, 2001 and September 30, 2000,
The Nine Months Ended September 30, 2001and September 30, 2000,
The Year Ended December 31, 2000,
and the Period February 19, 1998 (inception) to September 30, 2001
<Table>
<s> <c> <c> <c> <c> <c> <c>
Unaudited Unaudited
Three Months Ended Six Months Ended Audited February 19, 1998
September 30, September 30 The Year Ended (inception) to
2001 2000 2001 2000 December 31, 2000 September 30,
2001
--------- ---------- --------- -------- ------------- -----------
Revenue $ - $ - $ - $ - $ - $ -
Cost of Sales - - - - - -
----------- ----------- ----------- ----------- ------------ -------------
Gross Profit - - - - - -
Operating Expenses -
Filing Fees - - - - - 300
Professional Fees - - - 900 900 3,600
----------- ----------- ----------- ----------- ------------ -------------
- - - 900 900 3,900
----------- ----------- ----------- ----------- ------------ -------------
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 Number
of Shares Outstanding 3,000,000 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 statements.
Melloncamp, Inc.
(a development stage enterprise)
Statement of Stockholders' Equity
September 30, 2001
<Table>
<s> <c> <c> <c> <c> <c>
Deficit
Accumulated
Paid in During
Preferred Stock Common Stock Capital Development
Stock Amount Stock Amount Amount Stage Total
--------- -------- --------- --------- --------- --------- ---------
Balance February 19, - $ - - $ - $ - $ - $ -
1998
Stock issued - - 3,000,000 3,000 - - 3,000
Retained earnings (loss) - - - - - (3,000) (3,000)
--------- --------- ---------- --------- --------- ---------- ----------
Balance December 31, - - 3,000,000 3,000 - (3,000) -
1998
Retained earnings (loss) - - - - - - -
--------- --------- ---------- --------- --------- ---------- ----------
Balance December 31, - - 3,000,000 3,000 - (3,000) -
1999
Retained earnings (loss) - - - - - (900) (900)
--------- --------- ---------- --------- --------- ---------- ----------
Balance December 31, - - 3,000,000 3,000 - (3,900) (900)
2000
Retained earnings (loss) - - - - - - -
--------- --------- ---------- --------- --------- ---------- ----------
Balance September 30, - $ - 3,000,000 $ 3,000 $ - $ (3,900) $ (900)
2001
========= ========= ========== ========= ========= ========== ==========
</Table>
See accompanying accountant's report.
The accompanying notes are an integral part of these statements.
Melloncamp, Inc.
(a development stage enterprise)
Statements of Cash Flows
For the Three Months Ended September 30, 2001 and September 30, 2000,
The Nine Months Ended September 30, 2001 and September 30, 2000,
The Year Ended December 31, 2000,
and the Period February 19, 1998 (inception) to September 30, 2001
<Table>
<s> <c> <c> <c> <c>
Unaudited Unaudited
Three Months Ended Nine Months Ended Audited February 19, 1998
September 30., September 30, The Year Ending (inception) to
2001 2000 2001 2000 December 31, September 30,
2000 2001
--------- -------- -------- ------- ---------- -----------
Net income (loss) $ (900) $ - $ (900) $ (900) $ (3,900)
Adjustments to reconcile net
income to net cash
provided by operating
activities:
Loan payable - 900 - 900 900 900
--------- --------- --------- ---------- ----------- ----------
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 statements.
Melloncamp, Inc.
(a development stage enterprise)
Notes to Financial Statements
September 30, 2001, December 31, 2000 and September 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
States. 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 September 30, 2001, December 31, 2000 and September 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
contingencies.
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 report contains statements that are forward-looking statements
within the meaning of the federal securities laws. These include
statements about our expectations, beliefs, intentions or strategies for
the future, which we indicate by words or phrases such as "anticipate,"
"expect," "intend," "plan," "will," "believe" and similar language.
These statements involve known and unknown risks, including those
resulting from economic and market conditions, the regulatory
environment in which we operate, competitive activities, and other
business conditions, and are subject to uncertainties and assumptions
set forth elsewhere in this registration statement. Our actual results
may differ materially from results anticipated in these forward-looking
statements. We base our forward-looking statements on information
currently available to us, and we assume no obligation to update these
statements.
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: November 14, 2001