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 - 32445
THE MADONNA CORPORATION
Exact name of small business issuer as specified in its charter
Colorado 98 - 0219214
(State or other jurisdiction of I.R.S. Employer
incorporation or organization) Identification Number
3215 MATHERS AVENUE, WEST VANCOUVER, BC V8K 2R2 CANADA
(Address of principal executive office)
(604) 913-8355
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: 560,000
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
September 30, 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 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
The Madonna Corporation 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 March 31, 2000 reflects
current assets of $ 81 in the form of cash, and total assets of $
81.
The Madonna Corporation 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 be sufficient to meet
our cash needs, including the costs of compliance with the
continuing reporting requirements of the Securities Exchange Act.
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 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.
THE MADONNA CORPORATION
Dated February 24, 2002 /S/ Inge L. E. Kerster
Inge L. E. Kerster, President
and Director
EXHIBIT A
THE MADONNA CORPORATION
FINANCIAL STATEMENTS
FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2001
THE MADONNA CORPORATION
(A DEVELOPMENT STAGE ENTERPRISE)
BALANCE SHEET
AS AT SEPTEMBER 30, 2001
(PREPARED BY MANAGEMENT)
ASSETS
CURRENT ASSETS:
CASH $ 81
TOTAL CURRENT ASSETS 81
TOTAL ASSETS 81
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES: 0
STOCKHOLDERS' EQUITY:
COMMON STOCK, $0.001 PAR
VALUE; 100,000,000 SHARES
AUTHORIZEDAND 560,000 SHARES
ISSUED AND OUTSTANDING 560
PREFERRED STOCK, $0.001 PAR
VALUE - 10,000,000 AUTHORIZED
NONE ISSUED AND OUTSTANDING 0
ADDITIONAL PAID-IN CAPITAL 1,140
(DEFICIT) ACCUMULATED DURING
THE DEVELOPMENT STAGE (1,619)
TOTAL STOCKHOLDERS' EQUITY (DEFICIT) ( 81)
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY 81
SEE ACCOMPANYING NOTES
THE MADONNA CORPORATION
(A DEVELOPMENT STAGE ENTERPRISE)
STATEMENT OF OPERATIONS
FOR THE THREE MONTH PERIODS ENDED
SEPTEMBER 31, 2001 AND 2000
(PREPARED BY MANAGEMENT)
2001 2000
REVENUES: 0 0
OPERATING EXPENSES:
DOCUMENT PREPARATION AND FILING FEES 0 600
OFFICE EXPENSES 22 20
TOTAL OPERATING EXPENSES 22 620
NET (LOSS) FOR THE PERIOD $ ( 22) $ ( 620)
NET (LOSS) PER SHARE $ (0.00) $ (0.00)
WEIGHTED AVERAGE NUMBER OF
COMMON SHARES OUTSTANDING 560,000 560,000
SEE ACCOMPANYING NOTES
THE MADONNA CORPORATION
(A DEVELOPMENT STAGE ENTERPRISE)
STATEMENTS OF CASH FLOWS FOR THE
THREE MONTH PERIODS ENDED SEPTEMBER 30, 2001 AND 2000
(PREPARED BY MANAGEMENT)
2001 2000
CASH FLOWS FROM (BY) OPERATING ACTIVITIES:
NET INCOME (LOSS) FOR THE PERIOD $ ( 22) $ ( 620)
CASH FLOWS FROM INVESTING ACTIVITIES: 0 0
CASH FLOWS FROM (TO) FINANCING ACTIVITIES: 0 0
INCREASE (DECREASE) IN CASH FOR THE PERIOD (22) ( 620)
CASH, BEGINNING OF PERIOD 103 788
CASH, END OF PERIOD $ 81 $ 168
SEE ACCOMPANYING NOTES
NOTES TO UNAUDITED FINANCIAL STATEMENTS
(Un-audited)
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 The
Madonna Corporation ("Registrant") included in this amended Form 10
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 II - DUE TO RELATED PARTY
NA