United States
Securities and Exchange Commission
Washington, DC 20549
FORM 10Q SB
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15 (d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2001
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15 (d) OF THE
EXCHANGE ACT
Commission file Number 0 - 32279
OYSTER CREEK GROUP INC.
Exact name of small business issuer as specified in its charter
Nevada 76-0616471
(State or other jurisdiction of I.R.S. Employer
incorporation or organization) Identification No.
2400 Loop 35, #1502, Alvin Texas 77511
(Address of principal executive office)
(281) 331-5580
Issuer's telephone number
NA
(Former name, former address and former fiscal year, if
changed since last report)
APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDINGS DURING THE PAST FIVE YEARS
Check whether the registrant filed all documents and reports
required
To be filed by Section 12, 13 or 15 (d) of the Exchange Act
after the distribution of
Securities under a plan confirmed by a court. Yes ____ No
____
APPLICABLE ONLY TO CORPORATE ISSUERS
State the number of shares outstanding of each of the
Issuer's
common equity as of the last practicable date: 1,350,000
shares
Transitional Small Business Disclosure Format (check one)
Yes ___ No X
PART I
FINANCIAL INFORMATION
Item 1. Financial Statements.
The un-audited financial statements for the quarter ended
September 30, 2001 are attached hereto as Exhibit A
Item 2. Management's Discussion and Analysis or Plan of
Operation.
Oyster Creek Group has a three-year license to market and sell
vitamins, minerals, nutritional supplements, and other health and
fitness products to medical professionals, alternative health
professionals, martial arts studios and instructors, sports and
fitness trainers, other health and fitness professionals, school
and other fund raising programs and other similar types of
customers. All of these individuals and organizations will
order their products via the Internet for sale to their clients.
The license will be automatically renewed unless Oyster Creek
Group or VitaMineralHerb.com gives the other notice of its intent
not to renew.
As a licensee of VitaMineralHerb.com, Oyster Creek Group
eliminates the need to develop products, store inventory, build
and maintain a website, establish banking liaisons, and develop a
fulfillment system, thereby enabling us to focus strictly on
marketing and sales. Oyster Creek Group plans to target health
and fitness professionals in South Florida who wish to offer
health and fitness products to their customers.
Oyster Creek Group (and its customers) will have access to all
products offered on the VitaMineralHerb.com website, as well as
the ability to order custom-formulated and custom-labeled
products. VitaMineralHerb.com sets the price for products based
on the manufacturer's price, plus a markup which provides a 10%
commission to VitaMineralHerb.com and a profit for Oyster Creek
Group.
(b) Management's discussion and analysis of Financial Condition
and Results of Operations.
Liquidity and Capital Resources
Oyster Creek Group Inc. remains in the development stage and,
since inception, has experienced some small expenses for the
preparation of financial statements and periodic reports as
required by the Securities Exchange Act of 1934. Consequently,
our balance sheet for the period ending September 30, 2001
reflects current assets of $ 0.00in the form of cash, and total
assets of $ 0.00.
We believe that our existing capital will not be sufficient to
meet our cash needs, including the costs of compliance with the
continuing reporting requirements of the Securities Exchange Act.
As a result, a related party has advanced a total of $ 5,200 to
cover audit, financial statement preparation and filing fees.
No commitments to provide additional funds have been made by
management or other stockholders. Accordingly, there can be no
assurance that any additional funds will be available.
Irrespective of whether the cash assets prove to be inadequate to
meet operational needs, the Company might seek to compensate
providers of services by issuances of stock in lieu of cash.
PART II
OTHER INFORMATION
Item 1. Legal Proceedings
None
Item 2. Changes in Securities
None
Item 3. Defaults Upon Senior Securities
Not Applicable
Item 4. Submission of Matters to a Vote of Securities Holders
None
Item 6. Exhibits and Reports on Form 8K
None
SIGNATURES
In accordance with the requirements of the Exchange Act, the
registrant caused this report to be signed on its behalf by
the undersigned, hereunto duly authorized.
OYSTER CREEK GROUP INC.
Dated October 31, 2001 /S/ Dorothy A. Mortenson
Dorothy A. Mortenson,
Secretary and Director
EXHIBIT A
OYSTER CREEK GROUP INC.
FINANCIAL STATEMENTS FOR THE THREE MONTH PERIODS
ENDING SEPTEMBER 30, 2001 AND 2000
(PREPARED BY MANAGEMENT)
OYSTER CREEK GROUP INC.
BALANCE SHEETS
AS AT SEPTEMBER 30, 2001 AND 2000
ASSETS
SEPTEMBER 30, 2001 SEPTEMBER 30, 2000
CURRENT ASSETS $ 0 $ 0
OTHER ASSETS
LICENSE RIGHTS 0 0
TOTAL ASSETS 0 0
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES 5,2 00 1,200
TOTAL CURRENT LIABILITIES 5,200 1,200
STOCKHOLDERS' EQUITY
COMMON STOCK $0.001 PAR VALUE
25,000,000 SHARES AUTHORIZED
4,500,000 SHARES ISSUED AND
OUTSTANDING 4,500 4,500
ADDITIONAL PAID-IN
CAPITAL 75 75
DEEMED DIVIDEND RE:
LICENSE RIGHTS (2,000) (2,000)
DEFICIT ACCUMUILATED DURING
THE DEVELOPMENT STAGE (7,775) (3,775)
TOTAL STOCKHOLDERS'
EQUITY (DEFICIT) ( 5,200) (1,200)
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY $ 0 $ 0
SEE ATTACHED NOTES TO THESE STATEMENTS
OYSTER CREEK GROUP INC.
STATEMENT OF OPERATIONS
FOR THE THREE MONTH
PERIODS ENDING SEPTEMBER 30, 2001 AND 2000
THREE MONTHS ENDED
SEPTEMBER 30
2001 2000
REVENUES $ 0 $ 0
OPERATING EXPENSES
OFFICE EXPENSES AND FILING FEES 800 0
LEGAL AND ACCOUNTING 3,200 0
TOTAL OPERATING EXPENSES 4,000 0
NET (LOSS) FOR THE PERIOD (4,000) 0
NET (LOSS) PER SHARE $ 0.00 $ 0.00
WEIGHTED AVERAGE NUMBER OF
COMMON SHARES OUTSTANDING 4,500,000 4,500,000
SEE ATTACHED NOTES TO THESE STATEMENTS
OYSTER CREEK GROUP INC.
STATEMENT OF CASH FLOWS
FOR THE THREE MONTH
PERIODS ENDING SEPTEMBER 30, 2001 AND 2000
THREE MONTHS ENDED
SEPTEMBER 30
2001 2000
CASH FLOWS FROM (TO)
OPERATING ACTIVITIES
NET INCOME (LOSS) $ (4,000) $ 0
NET INCREASE IN
ACCOUNTS PAYABLE 4,000 0
CASH FLOWS FROM (TO)
INVESTING ACTIVITIES 0 0
CASH FLOWS FROM (TO)
FINANCING ACTIVITIES 0 0
NET INCREASE (DECREASE IN CASH 0 0
CASH BEGINNING OF PERIOD 0 0
CASH END OF PERIOD $ 0 $ 0
SEE ATTACHED NOTES TO THESE STATEMENTS
NOTES TO UNAUDITED FINANCIAL STATEMENTS
(Unaudited)
NOTE 1 - BASIS OF PRESENTATION
The accompanying financial statements have been prepared in
accordance with US Securities and Exchange Commission ("SEC")
requirements for interim financial statements. Therefore, they
do not include all of the information and footnotes required by
generally accepted accounting principles for complete financial
statements. The financial statements should be read in
conjunction with the year ended June 30, 2001 financial
statements of Oyster Creek Group Inc. ("Registrant") included in
the Form 10K SB filed with the SEC by the Registrant.
The results of operations for the interim period shown in this
report are not necessarily indicative of the results to be
expected for the full year. In the opinion of management, the
information contained herein reflects all adjustments necessary
to make the results of operations for the interim periods a fair
statement of such operation. All such adjustments are of a
normal recurring nature.
NOTE 2 - RELATED PARTY TRANSACTIONS
Due to related parties at September 30, 2001
Advances payable to an officer and shareholder
of Registrant represent advances, unsecured,
bearing no interest and due on demand $5,200
Due to related parties $5,200