UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2001
Commission File Number: 0-31467
eStaff.com, Inc.
(Exact name of small business issuer as specified in its charter)
Nevada 91-1979826
(Jurisdiction of Incorporation) (I.R.S. Employer Identification No.)
24843 Del Prado, Suite 318, Dana Point California, 92629
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (949) 248-1765
As of June 30, 2001, 25,435,000 shares of shares of Common Stock were issued and
outstanding.
Transitional Small Business Disclosure Format (check one): yes [ ] no [X]
PART I: FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS.
The financial statements, for the three months ended June 30, 2001,
included herein have been prepared by the Company, without audit pursuant to the
rules and regulations of the Securities and Exchange Commission. Certain
information and footnote disclosure normally included in financial statements
prepared in accordance with generally accepted accounting principles have been
condensed or omitted pursuant to such rules and regulations, although the
Company believes that the disclosures are adequate to make the information not
misleading.
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ESTAFF.COM, INC.
BALANCE SHEETS (UNAUDITED)
June 30, March 31,
2001 2000
(Unaudited)
ASSETS
CURRENT ASSETS
Cash. . . . . . . . . . . . . . . . . . . . . . . . $ 0 $ 4,499
------------ ----------
TOTAL CURRENT ASSETS. . . . . . . . . . . . . . . . . . 0 4,499
------------ ----------
TOTAL ASSETS. . . . . . . . . . . . . . . . . . . . . . $ 0 $ 4,499
============ ==========
LIABILITIES & STOCKHOLDERS' EQUITY
LIABILITIES
Bank overdraft. . . . . . . . . . . . . . . . . . . . $ 1,501 -0-
Accounts payable. . . . . . . . . . . . . . . . . . . 20,267 $ -0-
------------ ----------
Total accounts payable. . . . . . . . . . . . . . . . . 21,768 -0-
------------ ----------
STOCKHOLDERS' EQUITY
Common Stock, $.001 par value; authorized 100,000,000
shares; issued and outstanding, 25,435,000 shares
and 25,435,000 shares respectively . . . . . . . . 25,435 25,435
Additional paid in capital. . . . . . . . . . . . . . 81,440 81,440
Accumulated Deficit . . . . . . . . . . . . . . . . . (128,643) (102,376)
Total Stockholders' Equity. . . . . . . . . . . . . . . (21,768) 4,499
------------ ----------
TOTAL STOCKHOLDERS' EQUITY. . . . . . . . . . . . . . . $ 0 $ 4,499
============ ==========
The accompanying notes are an integral part
of these financial statements.
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ESTAFF.COM, INC.
STATEMENTS OF OPERATIONS (UNAUDITED)
for the periods ended June 30, 2000 and 2001
From
Inception on
From April From April April 21,
1, 2001 to 1, 2000 to 1999 through
June 30, June 30, June 30,
2001 2000 2001
------------ ------------ ------------
Revenues . . . . . . . . . . . . . . $ -0- $ -0- $ 1,000
------------ ------------ ------------
General and Administrative Expenses. 26,267 51,376 79,643
------------ ------------ ------------
Bad debt expense . . . . . . . . . . -0- -0- 50,000
------------ ------------ ------------
Net Loss from Operations . . . . . . (26,267) (51,376) (128,643)
Net Income (Loss). . . . . . . . . . $ (26,267) $ (51,376) $ (128,643)
============ ============ ============
Loss per Share . . . . . . . . . . . $ (0.00) $ (0.00) $ (0.01)
============ ============ ============
Weighted Average
Shares Outstanding . . . . . . . 25,435,000 21,235,675 24,219,000
============ ============ ============
The accompanying notes are an integral part
of these financial statements.
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ESTAFF.COM, INC.
STATEMENTS OF CASH FLOWS (UNAUDITED)
for the periods ended June 30, 2000 and 2001
From
Inception on
April 21,
For the periods 1999 through
ended June 30, June 30,
2001 2000 2001
--------- --------- ----------
Net Loss. . . . . . . . . . . . . . . . . . $(26,267) $(52,376) $(128,643)
Adjustments to reconcile net loss to
net cash from operating activities:
Bad debt expense. . . . . . . . . . . . . . 0 0 50,000
Increase in accounts payable. . . . . . . . 20,267 0 20,267
Increase in bank overdrafts . . . . . . . . 1,501 0 1,501
Stock for services. . . . . . . . . . . . . 0 6,375 6,375
--------- --------- ----------
Net cash from operating activities. . . . . (4,499) (46,001) (50,500)
--------- --------- ----------
Cash flow used in investing activities:
Cash paid for note receivable-Related Party 0 (50,000) (50,000)
--------- --------- ----------
Net cash (used) by investing activities . . 0 (50,000) (50,000)
--------- --------- ----------
Cash flow from financing activities:
Issued common stock for cash. . . . . . . . 0 100,500 100,500
--------- --------- ----------
Net cash provided by financing activities . 0 100,500 100,500
--------- --------- ----------
Net increase (decrease) in cash . . . . . . (4,499) 4,499 0
Cash beginning of period. . . . . . . . . . 4,499 0 0
--------- --------- ----------
Cash end of period. . . . . . . . . . . . . 0 4,499 0
========= ========= ==========
The accompanying notes are an integral part
of these financial statements.
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ESTAFF.COM, INC.
NOTES TO FINANCIAL STATEMENTS
June 30, 2001
NOTES TO FINANCIAL STATEMENTS
EStaff.com, Inc. ("the Company") has elected to omit substantially all footnotes
to the financial statements for the three months ended June 30, 2001, since
there have been no material changes (other than indicated in other footnotes) to
the information previously reported by the Company in their Annual Report filed
on Form 10-KSB for the Fiscal year ended March 31, 2001.
UNAUDITED INFORMATION
The information furnished herein was taken from the books and records of the
Company without audit. However, such information reflects all adjustments which
are, in the opinion of management, necessary to properly reflect the results of
the period presented. The information presented is not necessarily indicative
of the results from operations expected for the full fiscal year.
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ITEM 2. DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.
(A) PLAN OF OPERATION. Our plan of operation is unchanged from our previous
report.
(B) DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
We have had no operations and enjoyed no revenues during the current quarter.
PART II: OTHER INFORMATION
ITEM 1. LEGAL PROCEDINGS. None
ITEM 2. CHANGES IN SECURITIES. None
ITEM 3. DEFAULTS ON SENIOR SECURITIES. None
ITEM 4. SUBMISSION OF MATTERS TO VOTE OF SECURITY HOLDERS. None
ITEM 5. OTHER INFORMATION. None
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K. None
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, this
Form 10-QSB Report for the Quarter ended June 30, 2001, has been signed below by
the following person on behalf of the Registrant and in the capacity and on the
date indicated.
Dated: July 16, 2001
ESTAFF.COM, INC
by
/s/Tarja Morado
Tarja Morado
sole initial officer/director
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