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 December 31, 2001
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15 (d) OF THE
EXCHANGE ACT
Commission file Number 0 - 30915
DIGICOMM SERVICES, INC.
(Formerly NEMO ENTERPRISES, INC.)
Exact name of small business issuer as specified in its charter
Colorado 98 - 0219157
(State or other jurisdiction of IRS Employer
incorporation or organization) Identification Number
3215 MATHERS AVENUE, WEST VANCOUVER, BC V7K 2K6 CANADA
(Address of principal executive office)
(604) 913-8355
Issuer's telephone number
NEMO ENTERPRISES, INC., 404 Scott Point Drive, Salt Spring
Island, BC V8K 2R2
(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 unaudited financial statements for the quarter ended
December 31, 2001 are attached hereto as Exhibit A
Item 2. Management's Discussion and Analysis or Plan of
Operation.
The Company's business plan is to continue to seek, investigate,
and, if warranted, acquire one or more properties or businesses,
and to pursue other related activities intended to enhance
shareholder value. The acquisition of a business opportunity may
be made by purchase, merger, exchange of stock, or otherwise, and
may encompass assets or a business entity, such as a corporation,
joint venture, or partnership. The Company has very limited
capital, and it is unlikely that the Company will be able to take
advantage of more than one such business opportunity.
The Company intends to seek opportunities demonstrating the
potential of long-term growth as opposed to short-term earnings.
At the present time the Company has not identified any business
opportunity that it plans to pursue, nor has the Company reached
any agreement or definitive understanding with any person
concerning an acquisition.
Liquidity and Capital Resources
Digicomm Services, 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 December 31, 2001
reflects current assets of $ 0.00 in the form of cash, and total
assets of $ 0.00.
Digicomm Services, Inc. will carry out its plan of business as
discussed above. We cannot predict to what extent liquidity and
capital resources will be diminished prior to the consummation
of a business combination.
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.
The Company's sole Officer and Director has agreed to supply what
small funds that are necessary to continue to compile and file
the above mentioned reports. There is no assurance, however,
that the available funds will ultimately prove to be adequate to
allow it to complete a business combination, and once a business
combination is completed, the Company's needs for additional
financing are likely to increase substantially.
No commitments to provide additional funds other than those
mentioned above, have been made by management or other
stockholders. Accordingly, there can be no assurance that any
such 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.
DIGICOMM SERVICES, INC.
Dated February 20, 2001 /S/ Inge L.E. Kerster
Inge L.E. Kerster,
President and
Director
EXHIBIT A
DIGICOMM SERVICES, INC.
(FORMERLY NEMO ENTERPRISES, INC.)
FINANCIAL STATEMENTS
FOR THE THREE MONTHS ENDED DECEMBER 31, 2000
DIGICOMM SERVICES, INC.
(FORMERLY NEMO ENTERPRISES, INC.)
(A Development Stage Enterprise)
FINANCIAL STATEMENTS FOR THE THREE MONTH PERIOD
ENDING DECEMBER 31, 2000
(PREPARED BY MANAGEMENT)
DIGICOMM SERVICES, INC.
(FORMERLY NEMO ENTERPRISES, INC.)
(A Development Stage Enterprise)
BALANCE SHEETS
AS AT DECEMBER 31, 2001 and 2000
(PREPARED BY MANAGEMENT)
ASSETS
2001 2000
CURRENT ASSETS $ 0 $ 786
TOTAL ASSETS 0 786
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES: 0 0
STOCKHOLDERS' EQUITY:
COMMON STOCK, $0.001 PAR
VALUE; 50,000,000 SHARES
AUTHORIZED AND 1,350,000
SHARES ISSUED AND OUTSTANDING
1,350 1,350
PREFERRED SHARES $0.001 PAR VALUE:
NONE ISSUED AND OUTSTANDING 0 0
ADDITIONAL PAID-IN CAPITAL 3,350 3,350
DEFICIT ACCUMULATED DURING
THE DEVELOPMENT STAGE (4,700) (3,914)
TOTAL STOCKHOLDERS' EQUITY (DEFICIT) 0 786
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY $ 0 $ 786
SEE ATTACHED NOTES
DIGICOMM, SERVICES, INC.
(FORMERLY NEMO ENTERPRISES, INC.)
(A Development Stage Enterprise)
STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS ENDED
DECEMBER 31, 2001 AND 2000
(PREPARED BY MANAGEMENT)
2001 2000
REVENUES: $ 0 $ 0
OPERATING EXPENSES: 0 0
TOTAL OPERATING EXPENSES 0 0
NET (LOSS) FOR THE PERIOD ( 0) ( 0)
NET (LOSS) PER SHARE $ ( 0.00) $ ( 0.00)
WEIGHTED AVERAGE NUMBER OF
COMMON SHARES OUTSTANDING 1,350,000 1,350,000
SEE ATTACHED NOTES
DIGICOMM SERVICES, INC.
(FORMERLY NEMO ENTERPRISES, INC.)
(A Development Stage Enterprise)
STATEMENTS OF CASH FLOWS
FOR THE THREE MONTHS ENDING
DECEMBER 31, 2001 AND 2000
(PREPARED BY MANAGEMENT)
2001 2000
CASH FLOWS FROM (TO)
OPERATING ACTIVITIES: $ 0 $ 0
CASH FLOWS FROM (TO)
FINANCING ACTIVITIES:
ISSUANCE OF COMMON STOCK 0 0
CASH FLOWS FROM (TO) INVESTING ACTIVITIES 0 0
NET INCREASE (DECREASE) IN CASH 0 0
CASH, BEGINNING OF PERIOD 0 786
CASH, END OF PERIOD 0 786
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 September 30, 2001 financial statements of Digicomm
Services, 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.
EXHIBIT B
FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Act of 1934
Date of Report (Date of earliest event reported) October 12,2000
Digicomm Services, Inc.
Colorado 0-30915 98-0219157
(State or Other (Commission (IRS Employer
Jurisdiction File Number) Identification No.)
of Incorporation)
404 Scott Point Drive, Salt Spring Island, BC V8K 2R2 Canada
Registrant's telephone number, including area code (250) 537-5732
Nemo Enterprises, Inc.
(Former name or former address if changed since last report)
Item 1. Changes in Control of Registrant
NA
Item 2. Acquisition or Disposition of Assets
NA
Item 3. Bankruptcy or Receivership
NA
Item 4. Changes in Registrant's Certifying Accountant
NA
Item 5. Other Events
On October 12, 2000, the Company officially changed its name to:
Digicomm Services, Inc. All nine shareholders voted to make the change.
A copy of the minutes of the September 20, 2000 directors' meeting is
included as Exhibit 1 to this report.
Item 6. Resignation of Registrant's Directors
NA
Item 7. Financial Statements and Exhibits
NA
Item 8. Change in Fiscal Year
NA
Signatures
Pursuant to the requirements of the Securities and Exchange
Act or 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly
authorized.
December 6, 2000 DIGICOMM SERVICES, INC.
Date (Registrant)
/S/ Inge L. E. Kerster
Inge L. E. Kerster,
President
EXHIBIT 1.
DIRECTORS' MINUTES
SEPTEMBER 20, 2000
MINUTES OF A MEETING OF DIRECTOR(S) OF
NEMO ENTERPRISES, INC.
HELD
SEPTEMBER 20, 2000
At a meeting of the Board of Directors of Nemo Enterprise, Inc.,
held at 404 Scott Point Drive, Salt Spring Island, British
Columbia at 9:00 Am on September 20, 2000, a quorum being
present, the following motion was moved and passed:
RESOLVED: That the Company's sole officer and director be
authorized to complete the necessary forms and forward them to
the State of Colorado Secretary of State to affect a change in
the name of the corporation. The new name shall be: Digicomm
Services, Inc.
The motion was duly carried.
Inge L. E. Kerster conformed that she had polled all other
shareholders and that they had unanimously endorsed the proposed
action.
There being no other business to be brought before the meeting,
it was adjourned.
/S/ Inge L. E. Kerster
Inge L. E. Kerster, Secretary