UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 10QSB
(X) Quarterly report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 for the quarterly period ended June 30, 2001
( ) Transition report pursuant of Section 13 or 15(d) of the Securities
Exchange Act of 1939 for the transition period ____ to______
COMMISSION FILE NUMBER: 333-50914
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SPICOLOGY, INC.
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(Exact name of registrant as specified in its charter)
California 91-2021595
- ---------------------------------- ----------------------------
(State or other jurisdiction of (IRS Employer I.D. Number)
incorporation or organization)
809 Ocean Avenue
Seal Beach, California 90740
(562) 596-6646
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(Address of Principal Executive Offices, including Registrant's zip code
and telephone number)
NONE
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Former name, former address and former fiscal year, if changed
Indicate by check mark whether the registrant (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 reports,), and (2) has been subject to
such filing requirements for the past 90 days. Yes X No
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The number of shares of the registrant's common stock as of June 30, 2001:
2,030,900 shares.
Transitional Small Business Disclosure Format (check one): Yes No X
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TABLE OF CONTENTS
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PART I. FINANCIAL INFORMATION
Item 1. Financial Statements
(a) Balance Sheet
(b) Statement of Operations
(c) Statement of Changes in Financial Position
(d) Statement of Shareholders' Equity
(e) Notes to Financial Statements
Item 2. Management's Discussion and Analysis
of Financial Condition and Results of Operations
Item 3. Risks
PART II. OTHER INFORMATION
Item 1. Legal Proceedings
Item 2. Changes in Securities and Use of Proceeds
Item 3. Defaults On Senior Securities
Item 4. Submission of Items to a Vote
Item 5. Other Information
Item 6
(a) Exhibits
(b) Reports on Form 8K
SIGNATURES
FINANCIAL DATA SCHEDULE
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SPICOLOGY, INC.
(A DEVELOPMENT STAGE COMPANY)
BALANCE SHEETS
December 31, 2000 June 30, 2001
----------------- -------------
Assets: ............................................ $ -- $ --
======= =======
Liabilities - Accounts Payable ..................... $ -- $ --
------ -------
Stockholders' Equity:
common stock, Par value $.001
Authorized 100,000,000 shares,
Issued 2,000,000 shares at December 31, 2000 2,000 2,015
Paid-In Capital .................................. 2,000 17,385
Retained Deficit (4,000) (14,000)
------ -------
Total Stockholders' Equity .................... -- --
------- -------
Total Liabilities and
Stockholders' Equity ........................ $ -- $ --
======= =======
The accompanying notes are an integral part of these financial statements.
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SPICOLOGY, INC.
(A DEVELOPMENT STAGE COMPANY)
STATEMENT OF OPERATION
June 30, 2000 June 30, 2001
----------------- --------------
Revenues: .................................. $ -- $ --
Expenses:
General and Administrative Expenses: .... $ 4,000 $ 15,400
------ ------
Net Loss .............................. $ (4,000) $ (15,400)
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Loss per share (basic and diluted).......... $ (.002) $ (.007)
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Weighted average common shares outstanding 2,000,000 2,030,800
The accompanying notes are an integral part of these financial statements.
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SPICOLOGY, INC.
(A DEVELOPMENT STAGE COMPANY)
STATEMENT OF STOCKHOLDERS' EQUITY
FOR THE PERIOD MARCH 21, 2000
THROUGH JUNE 30, 2001
Common stock Additional
Number of Shares Amount Paid in Retained
Capital (Deficit) Total
----------------- -------- --------- --------- -----
Stocks issued for cash $ 2,000 $2,000
Stocks issued for services 2,000,000 $2,000 $2,000
Net loss for the
period 12/31/2000 $(2,000) $(2,000)
Balance at 12/31/2000 2,000,000 $2,000 $ 2,000 $(4,000) $ 0
----------------- -------- --------- --------- -----
Stocks issued for
cash 5/1/2001 30,800 $ 15 $15,385
Net loss for the
period 6/30/01 $(15,400) $ 0
Balance at 6/30/01 2,030,800 $2,015 $17,385 $(19,400) $ 0
----------------- -------- --------- --------- -----
The accompanying notes are an integral part of these financial statements.
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SPICOLOGY, INC.
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF CASH FLOWS
June 30, 2000 June 30, 2001
CASH FLOWS FROM OPERATING ------------- -------------
ACTIVITIES:
Operating Activities
Net Loss ............................................ $(4,000) $ 15,400
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Adjustments to reconcile net loss to
net cash used in operating activities
Stocks issued for services at fair value 2,000 $ -0-
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Net Cash Used by operating activities ......... ... (2,000) $(15,400)
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Financing activities
Stockholder contribution 2,000 $ -0-
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Net Cash Provided by
Financing Activities .............................. 2,000 $ 15,400
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Net increase (decrease) in cash and cash equivalents -- --
Cash and Cash Equivalents
Beginning of Year.. ............................ -- $ 15,400
Cash and Cash Equivalents
End of Year ................................. $ -- --
======= =======
Non cash activities:
Stocks issued for services as fair value $ 2,000 $ -0-
The accompanying notes are an integral part of these financial statements.
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SPICOLOGY, INC.
(A Development Stage Company)
Notes to Financial Statements
June 30, 2001
GENERAL
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SPICOLOGY, INC.,(the Company) has elected to omit substantially all
footnotes to the financial statements for the three months ended March 31,
2001 since there have been no material changes (other than indicated in other
footnotes) to the information previously reported by the Company in their
Annual Report filed on the Form 10-KSB for the year ended December 31, 2000.
UNAUDITED INFORMATION
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The information furnished herein was taken from the books and records of the
Company without audit. However, such information reflects all adjustments
which are, in the opinion of management, necessary to properly reflect the
results of the interim period presented. The information presented is not
necessarily indicative of the results from operations expected for the full
fiscal year.
In this report references to "we," "us," and "our" refer to SPICOLOGY,
INC.
FORWARD LOOKING STATEMENTS
This Form 10-QSB contains certain forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. For this purpose any
statements contained in this Form 10-QSB that are not statements of historical
fact may be deemed to be forward-looking statements. Without limiting the
foregoing, words such as "may," "will," "expect," "believe," "anticipate,"
"estimate" or "continue" or comparable terminology are intended to identify
forward-looking statements. These statements by their nature involve
substantial risks and uncertainties, and actual results may differ materially
depending on a variety of factors, many of which are not within MERCURY
SOFTWARE's control. These factors include but are not limited to economic
conditions generally and in the industries in which SPICOLOGY, INC. may
participate; competition within SPICOLOGY, INC.'s chosen industry, including
competition from much larger competitors; technological advances and failure by
SPICOLOGY, INC. to successfully develop business relationships.
ITEM 2: MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS
Results of Operations
Since inception, we have had no revenues and have experienced losses.
We have financed our operations primarily through the sale of our common stock
or by loans from shareholders. The net loss for the three months ended March
31, 2001 was $0, compared to a net loss of $102 for the same period of 2000.
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The difference is insignificant, and a comparison of the two periods is not
meaningful, due to the fact that we have had minimal operations and nominal
expenses since inception.
Liquidity and Capital Resources
As of March 31, 2001, we had $0 cash on hand and total current liabilities of
$0. We have no material commitments for the next twelve months. We believe
that our current cash needs for at least the next twelve months can be met by
loans from our directors, officers and shareholders. Due to our lack of cash
and current liabilities since inception, management believes a comparison of
the period ended March 31, 2001 and the period March 31, 2000 would not be
meaningful.
It is emphasized that our management may effect transactions having a
potentially adverse impact upon our shareholders pursuant to the authority and
discretion of our management to complete acquisitions without submitting any
proposal to the stockholders for their consideration.
Should a merger or acquisition prove unsuccessful, it is possible that
we may decide not to pursue further acquisition activities and management may
abandon its activities and our shares would become worthless.
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PART I. FINANCIAL INFORMATION
Item 2. Management's Discussion and Analysis of Financial Condition and
Results of Operations.
THIS ANALYSIS CONTAINS FORWARD-LOOKING COMMENTS WHICH ARE BASED ON CURRENT
INFORMATION. ACTUAL RESULTS IN THE FUTURE MAY DIFFER MATERIALLY.
The Company is engaged in the business of establishing a web site for spice
sales. The Company has just commenced operations, and a comparative analysis of
financial information is not relevant.
PART II.
Item 1. Legal proceedings NONE
Item 2. Changes in securities and use of proceeds NONE
Item 3. Defaults on senior securities NONE
Item 4. Submission of items to a vote NONE
Item 5. Other information NONE
Item 6.
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a) Exhibits NONE
b) Reports on 8K NONE
SIGNATURES
In accordance with the requirements of the Securities and Exchange Act of 1934,
the registrant caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
SPICOLOGY.COM
Dated: August 6, 2001 By: Rick Feinstein
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Rick Feinstein, President
Dated: August 6, 2001 By: Rick Feinstein
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Rick Feinstein
Chief Financial Officer
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