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, 2002
[ ] 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 MADONNA CORPORATION
(A DEVELOPMENT STAGE ENTERPRISE)
BALANCE SHEET
AS AT DECEMBER 31, 2002
(PREPARED BY MANAGEMENT)
ASSETS
CURRENT ASSETS:
CASH $ 0
TOTAL CURRENT ASSETS 0
TOTAL ASSETS 0
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
DUE TO RELATED PARTY 1,012
STOCKHOLDERS' EQUITY:
COMMON STOCK, $0.001 PAR VALUE;
100,000,000 SHARES AUTHORIZEDAND
210,000 SHARES ISSUED AND OUTSTANDING 560
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
(2,712)
TOTAL STOCKHOLDERS' EQUITY (DEFICIT) (1,012)
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY $ 0
SEE ACCOMPANYING NOTES
THE MADONNA CORPORATION
(A DEVELOPMENT STAGE ENTERPRISE)
STATEMENTS OF OPERATIONS
FOR THE THREE MONTH AND SIX MONTH PERIODS
ENDED DECEMBER 31, 2002 AND 2001
(PREPARED BY MANAGEMENT)
THREE MONTHS SIX MONTHS
2002 2001 2001 2000
REVENUES: $ 0 $ 0 $ 0 $ 0
OPERATING EXPENSES:
AND FILING FEES 210 23 397 45
TOTAL OPERATING EXPENSES 210 23 397 45
NET (LOSS) FOR THE PERIOD $ ( 210) $ ( 23) $(397) $ ( 45)
NET (LOSS) PER SHARE (0.00) (0.00) (0.00) $ (0.00)
WEIGHTED AVERAGE NUMBER OF
COMMON SHARES OUTSTANDING 560,000 560,000 560,000 560,000
SEE ACCOMPANYING NOTES
THE MADONNA CORPORATION
(A DEVELOPMENT STAGE ENTERPRISE)
STATEMENTS OF CASH FLOWS
FOR THE THREE SIX MONTH PERIOD
ENDED DECEMBER 31, 2002 AND 2001
(PREPARED BY MANAGEMENT)
2002 2001
CASH FLOWS PROVIDED BY (USED FOR)
CASH FLOWS FROM (BY) OPERATING ACTIVITIES:
NET INCOME (LOSS) FOR THE PERIOD $( 397) $( 45)
CASH FLOWS FROM INVESTING ACTIVITIES: 0 0
CASH FLOWS FROM (TO) FINANCING ACTIVITIES: 0 0
INCREASE (DECREASE) IN CASH FOR THE PERIOD ( 397) ( 45)
CASH, BEGINNING OF PERIOD 0 103
CASH, END OF PERIOD $ 0 $ 58
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, 2002 financial statements of The Madonna Corporation
("Registrant") as contained in the Form 10K SB filed with the commission.
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
The sum of $ 1,012 has been advanced by a related party. No interest is payable
on this amount nor are there any terms of repayment.
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 December 31, 2002 reflects
current assets of $ 0 in the form of cash, and total assets of $ 0.
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 not be sufficient to meet our cash
needs, including the costs of compliance with the continuing reporting
requirements of the Securities Exchange Act. A related party has advanced the
sum of $1,012 to pay for the preparation and filing of required reports. There
is no assurance, however, that funds will be available funds will be available
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
Exhibit 99.1 Certification pursuant to 18 U.S.C. Section 1350
as adopted pursuant to Section 302 and 906 of the Sarbanes-Oxley
Act of 2002.
Exhibit 99.2Certification pursuant to 18 U.S.C. Section 1350 as adopted
pursuant to Section 302 and 906 of the Sarbanes-Oxley Act of 2002.
Exhibit 99.3 Controls And Procedures
Exhibit 99.4Certifications Of CEO And CFO Pursuant To Section 906 Of The
Sarbanes-Oxley Act
The Company filed a Form 8K on
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 April 19, 2004 /S/ Inge L. E. Kerster
Inge L. E. Kerster, President and Director
/S/ Lance R. Larsen
Lance R. Larsen, Treasurer and Director