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UNITED STATES | OMB |
SECURITIES AND EXCHANGE COMMISSION | APPROVAL |
Washington, D.C. 20549 |OMB Number:3235-0416 |
|Expires: April 30, 2003 |
FORM 10-QSB |Estimated average burden |
|hours per response:32.00 |
(Mark One) |-------------------------|
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the quarterly period ended August 31, 2000
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934
For the Transition Period from __________ to __________
Commission File No. 333-94265
3045 Corporation
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(Exact name of small business issuer as specified in its charter)
Florida 06-1562447
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(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
3045 N. Federal Hwy, Suite 60, Fort Lauderdale, Florida 33306
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(Address of principal executive offices)
(954) 565-1400
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(Issuer's telephone number)
Check whether the issuer (1) filed all reports to be filed by Section 13 or
15(d) of the Exchange Act during the past 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 [ ]
State the number of shares outstanding of each of the issuer's classes of
common equity, as of the last practicable date: As of August 31, 2000,
1,037,000 shares of the registrant's common stock were issued and outstanding.
Transitional Small Business Disclosure Format (Check one): Yes [ ] No [ x ]
Item 1. Financial Statements.
3045 Corporation
A Development Stage Company
Balance Sheet
August 31, 2000
(Unaudited)
ASSETS
Current Assets:
Cash and Cash Equivalents $ 206
Deferred Income Taxes, Less Valuation Allowance of $3,727 -
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Total Current Assets 206
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Total Assets $ 206
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LIABILITIES AND DEFICIENCY IN ASSETS
Current Liabilities
Accounts Payable
Loan Payable $ 21,600
Accrued Liabilities 567
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Total Current Liabilities 22,167
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Deficiency in Assets
Common Stock 5,350
Retained Earnings (27,311)
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Total Deficiency in Assets (21,961)
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Total Liabilities and Deficiency in Assets $ 206
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The accompanying notes to financial statements are an integral part hereof.
3045 Corporation
A Development Stage Company
Statements of Operations
(Unaudited)
CUMULATIVE
FOR THE PERIOD ENDED AUGUST 31, 2000 THREE MONTHS NINE MONTHS SINCE INCEPTION
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REVENUES
General and Administrative Expenses $ 622 $ 6,625 $27,311
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Operating Loss (622) (6,625) (27,311)
Provision for income taxes - - -
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Net Loss $(662) $(6,625) $(27,311)
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Basic and Diluted Loss PerShare $(0.001) $(0.006) $ (0.03)
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The accompanying notes to financial statements are an integral part hereof.
3045 Corporation
A Development Stage Company
Statements of Cash Flows
(Unaudited)
CUMULATIVE
FOR THE PERIOD ENDED AUGUST 31, 2000 THREE MONTHS NINE MONTHS SINCE INCEPTION
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CASH FLOWS FROM
OPERATING ACTIVITIES
Net Loss $ (622) $(6,625) $(27,311)
Adjustments to reconcile net
loss to net cash used by
operating activities:
(Decrease) Increase in Accrued Liabilities - (7,000) 567
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NET CASH USED BY
DEVELOPMENT STAGE
OPERATING ACTIVITIES (622) (14,325) (26,744)
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CASH FLOWS FROM
FINANCING ACTIVITIES
Proceeds from note payable to
Officer/shareholder 700 6,100 21,600
Sale of Common Stock - 100 5,350
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NET CASH PROVIDED BY
FINANCING ACTIVITIES 700 6,200 26,950
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NET DECREASE IN CASH
EQUIVALENTS FOR THE
PERIOD AND CUMULATIVE
DURING THE DEVELOPMENT
STAGE 78 (8,125) 206
CASH AND EQUIVALENTS - BEGINNING OF PERIOD 128 8,331 -
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CASH AND EQUIVALENTS - END OF PERIOD $ 206 $ 206 $ 206
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The accompanying notes to financial statements are an integral part hereof.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
In the opinion of management, the interim financial statements contain all
adjustments, consisting only of normal recurring adjustments, necessary to
present fairly the financial position of 3045 Corporation ("Company" or "3045")
as of August 31, 2000, and the results of our interim operations and cash flows
for the nine months ended August 31, 2000, in accordance with generally accepted
accounting principles. The results for interim periods are not necessarily
indicative of results for a full year.
3045 Corporation (A Development Stage Company) is a Florida corporation
formed in October 1999, primarily to provide information services related to the
mortgage industry through the internet.
We have been devoting our efforts to activities such as raising capital,
establishing sources of information, and developing markets our planned
operations. We have not yet generated any revenues and, as such, we are
considered a development stage company.
Part 1, Item 2
Management's Discussion and Analysis
Plan of Operation
We anticipate being able to satisfy our cash requirements for the next
twelve months. If it becomes necessary for us to raise additional funds in the
next twelve months, our founder, Kim A. Naimoli, who has necessary funds, will
advance funds as needed, and/or we will sell additional common stock.
As of the first quarter, we had launched a web site:
(http://hammer.prohosting.com/~ snaimoli/). Effective with the second quarter,
we established a more traditional web site: (www.3045Corp.com) and anticipate
internet activity in the near future. Additional web-site enhancement is
planned, including but not limited to indexing with numerous search engines,
addition of mortgage payment calculators, mortgage amortization calculators and
other related mortgage analysis tools.
We plan on contacting mortgage brokers, mortgage bankers, correspondent
mortgage lenders to affiliate with the Company in order to provide referrals to
consumers accessing our web site. We will start in the state of Florida and
extend our marketing efforts to other states when the time is appropriate.
On May 24, 2000, we contracted with and appointed Florida Atlantic Stock
Transfer, Inc. as Transfer agent and Registrar. This represents one of the final
steps necessary to begin regular trading. On June 16, 2000 stock symbol "TZFF"
was issued us.
There are no expectations of purchasing or selling of plant and significant
equipment. We currently have unlimited and unrestricted use of plant and
equipment belonging to the founder, Kim A. Naimoli. Such plant and equipment is
sufficient to meet our operational and technical needs for at least the next
twelve months.
There are no expected significant changes in the number of employees.
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.
3045 Corporation
(Registrant)
Date: September 8, 2000 /s/ Kim A. Naimoli _
Kim A. Naimoli, President