UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 10-QSB/A
Amendment No. 1
Quarterly Report
Under Section 13 or 15(d) of The Securities Exchange Act of 1934
For the Quarter Ended September 30, 2001 Commission File Number 0-27187
CENTRAL UTILITIES PRODUCTION CORPORATION
(Name of Small Business Issuer)
Nevada 88-0361127
(State of Incorporation) (I.R.S. Employer Identification Number)
1039 North I-35 #301 Carrollton, Texas 75006.
(Address of Principal Executive Offices Including Zip Code)
(972) 446-3775
(Issuers Telephone Number)
Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or such shorter
period that the registrant was required to file such reports), and (2) has been
subject to filing requirements for the past 90 days. [X] YES [ ] NO
Number of shares outstanding of each of the issuer's classes of common equity,
as of August 10, 2001: 247,850,152
Transitional Small Business Disclosure Format: [ ] Yes [X] No
Central Utilities Production Corporation
INDEX
Page
----
PART I - FINANCIAL INFORMATION
Item 1 - Financial Statements
Consolidated Balance Sheet at September 30, 2001 1
Consolidated Statements of Operations for the three months
and nine months ended September 30, 2001 and 2000 2
Consolidated Statements of Cash Flows for the nine months
ended September 30, 2001 and 2000 4
Notes to Financial Statements 6
Item 2 - Management's Discussion and Analysis 9
PART II - OTHER INFORMATION
Item 1. Legal Proceedings 11
Item 2. Changes in Securities and Use of Proceeds 11
Item 3. Default Upon Senior Securities 11
Item 4. Submission of Matters to a Vote of Security Holders 11
Item 5. Other Information 11
Item 6. Exhibits and Reports on Form 8-K 11
i
PART I - FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
CENTRAL UTILITIES PRODUCTION CORP.
UNAUDITED CONSOLIDATED BALANCE SHEET
SEPTEMBER 30, 2001
ASSETS
CURRENT ASSETS
Cash $ 229,002
Accounts receivable 33,851
Inventories 22,946
------------
Total current assets 285,799
------------
PROPERTY AND EQUIPMENT 51,643
OIL AND GAS PROPERTIES 43,936,796
OTHER ASSETS 5,600
------------
TOTAL ASSETS $ 44,279,838
============
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $ 54,009
Accrued liabilities 89,768
Notes payable 410,799
Legal settlement payable 345,000
Convertible debentures 1,000,000
------------
Total current liabilites 1,899,576
------------
STOCKHOLDERS' EQUITY:
Preferred stock, $.0001 par value, 3,000,000 shares
authorized, none issued
Common stock, $.0001 par value, 500,000,000 share
authorized, 247,850,152 issued and outstanding 24,785
Paid in capital 43,025,251
Accumulated deficit (669,774)
------------
Total stockholders' equity (deficit) 42,380,262
------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 44,279,838
============
The accompanying notes are an integral part of these
consolidated financial statements
1
CENTRAL UTILITIES PRODUCTION CORP.
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2001 AND 2000
Three months ended Nine months ended
September 30, September 30,
--------------------------- ---------------------------
2001 2000 2001 2000
----------- ----------- ----------- -----------
SALES $ 52,792 $ -- $ 65,110 $ --
COST OF SALES 102,990 -- 110,423 --
----------- ----------- ----------- -----------
Gross profit (50,198) -- (45,313) --
----------- ----------- ----------- -----------
OTHER (INCOME) AND EXPENSES
General and administrative expense 87,347 77,154 221,753 224,180
Interest expense 30,938 445,353 401,194 513,490
Settlement expense -- -- -- 500,000
Other income -- -- -- --
----------- ----------- ----------- -----------
Total other expense (income) 118,285 522,507 622,947 1,237,670
----------- ----------- ----------- -----------
INCOME (LOSS) BEFORE INCOME TAXES, DISCONTINUED
OPERATIONS AND EXTRAORDINARY ITEM (168,483) (522,507) (668,260) (1,237,670)
DISCONTINUED OPERATIONS
-- (275,467) 3,371 (1,216,185)
INCOME TAX (PROVISION) BENEFIT -- -- -- --
----------- ----------- ----------- -----------
NET INCOME (LOSS) BEFORE EXTRAORDINARY ITEM (168,483) (797,974) (664,889) (2,453,855)
EXTRAORDINARY ITEM - NET GAIN ON LIABILITIES TO BE
DISCHARGED IN BANKRUPTCY (net of income taxes of
$-0- and $-0- ) -- -- -- --
----------- ----------- ----------- -----------
NET INCOME (LOSS) $ (168,483) $ (797,974) $ (664,889) $(2,453,855)
=========== =========== =========== ===========
The accompanying notes are an integral part of these
consolidated financial statements
2
CENTRAL UTILITIES PRODUCTION CORP.
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - CONTINUED
FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2001 AND 2000
Three months ended Nine months ended
September 30, September 30,
----------------------------- -----------------------------
2001 2000 2001 2000
----------- ----------- ----------- -----------
NET INCOME (LOSS) PER COMMON SHARE
Basic:
Before discontinued operations and
extraordinary item $ * $ * $ * $ 0.005
Discontinued operations * -- * 0.005
Extraordinary item -- -- -- --
------------ ------------ ------------ ------------
Total $ * $ * $ * $ 0.01
============ ============ ============ ============
Diluted:
Before discontinued operations and
extraordinary item $ * $ * $ * $ 0.005
Discontinued operations * -- * 0.005
Extraordinary item -- -- -- --
------------ ------------ ------------ ------------
Total $ * $ * $ * $ 0.01
============ ============ ============ ============
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic 247,850,152 228,000,000 244,517,645 228,000,000
============ ============ ============ ============
Diluted 247,850,152 228,000,000 244,517,645 228,000,000
============ ============ ============ ============
* Less than $0.01 per share.
The accompanying notes are an integral part of these
consolidated financial statements
3
CENTRAL UTILITIES PRODUCTION CORP.
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2001 AND 2000
2001 2000
----------- -----------
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss) $ (664,889) $(2,453,855)
Adjustments to reconcile net income (loss) to net cash
provided by operating activities:
Deferred income taxes -- (2,951)
Issuance of stock for compensation and services rendered -- --
Discontinued operations -- 1,216,185
Legal settlement 280,000
Impairment loss --
Amortization of debt discount 333,333 500,000
Changes in assets and liabilities:
Accounts receivable (33,851)
Inventories (22,946)
Deposits (5,600)
Income tax payable -- 8,850
Accounts payable (16,537) (18,352)
Accrued settlement payable
Accrued liabilities 60,000 59,145
----------- -----------
Net cash (used in) provided by continuing operations (350,490) (410,978)
Net cash provided by discontinued operations 6,923 (686,496)
----------- -----------
Net cash used in operating activities (343,567) (1,097,474)
----------- -----------
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of oil and gas properties (189,703)
Purchase of property, machinery and equipment (51,643) (10,428)
----------- -----------
Net cash (used in) investing activities (241,346) (10,428)
----------- -----------
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on short-term debt 300,000 810,645
Principal payments on short-term debt (14,201) (84,388)
Payments on capital lease obligations -- (17,162)
Proceeds from sale of convertible debentures 500,000 500,000
----------- -----------
Net cash (used in) financing activities 785,799 1,209,095
----------- -----------
INCREASE IN CASH 200,886 101,193
CASH, BEGINNING OF PERIOD 28,116 13,315
----------- -----------
CASH, END OF PERIOD $ 229,002 $ 114,508
=========== ===========
The accompanying notes are an integral part of these
consolidated financial statements
4
CENTRAL UTILITIES PRODUCTION CORP.
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE NINE MONTHS ENDED SEPTEMBER 30,
2001 2000
----------- ---------
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING
ACTIVITIES:
Machinery and equipment acquired under capitalized leases $ -- $ 24,135
=========== =========
Oil and gas properties acquired by note payable $ 125,000 $ --
=========== =========
Book value of net assets transferred in connection with $43,622,093 $ --
=========== =========
SUPPLLEMENTAL CASH FLOW INFORMATION:
Income taxes paid $ 0 $ 0
=========== =========
Interest paid $ 938 $ 82,339
=========== =========
The accompanying notes are an integral part of these
consolidated financial statements
5
CENTRAL UTILITIES PRODUCTION CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR THE THREE AND NINE MONTHS ENDED SEPTEMEBR 30, 2001
STATEMENT OF INFORMATION FURNISHED
The accompanying financial statements have been prepared in accordance with Form
10-QSB instructions and in the opinion of management contain all adjustments
(consisting of only normal and recurring accruals) necessary to present fairly
the financial position as of September 30, 2001, and the results of operations
for the three and nine months ended September 30, 2001and 2000 and cash flows
for the nine months ended September 30, 2001 and 2000. These results have been
determined on the basis of generally accepted accounting principles and
practices applied consistently with those used in the preparation of the
Company's 2000 financial statements included in Form 10-KSB.
Certain information and footnote disclosure normally included in financial
statements presented in accordance with generally accepted accounting principles
have been condensed or omitted. It is suggested that the accompanying financial
statements be read in conjunction with the financial statements and notes
thereto included in the Company's Form 10-KSB.
(1) BASIS OF PRESENTATION
The accompanying unaudited financial statements have been prepared in accordance
with generally accepted accounting principles ("GAAP") for interim financial
information and the instructions to Form 10-QSB. Accordingly, they do not
include all the information and footnotes required by GAAP for complete
financial statements. In the opinion of management, all adjustments (which
include only normal recurring adjustments) necessary for a fair presentation of
the results for the interim period presented have been made. The results for the
three and six-month periods ending June 30, 2001 may not be indicative of the
results for the entire fiscal year. These financial statements should be read in
conjunction with the Company's Form 10-KSB/A for the year ended December 31,
2000.
(2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Cash includes all short-term highly liquid investments that are readily
convertible to known amounts of cash and have original maturities of three
months or less.
Principles of Consolidation: The consolidated financial statements include the
accounts of the Company and its wholly owned subsidiaries, Enpetro Mineral Pool,
Inc. and Accord SEG. Accord SEG is being liquidated under Chapter 7 of the
United States Bankruptcy Code. All significant intercompany accounts and
transactions are eliminated.
Income taxes - The Company provides for income taxes based on the provisions of
Statement of Financial Accounting Standards No. 109, ACCOUNTING FOR INCOME
TAXES, which among other things, requires that recognition of deferred income
taxes be measured by the provisions of enacted tax laws in effect at the date of
financial statements.
Use of Estimates - The preparation of financial statements in conformity with
generally accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenues and expenses during the
reporting period. Actual results could differ from those estimates. Estimates
have been made with respect to the liquidation value of the net assets of Accord
SEG.
6
Recently Issued Accounting Standards - In June 1998, SFAS No. 133, ACCOUNTING
FOR DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES, was issued effective for
fiscal years beginning after June 15, 2000 (as amended). SFAS No. 133
establishes accounting and reporting standards requiring that derivative
instruments be recorded on the balance sheet as either an asset or liability
measured at its fair value. This statement also requires that changes in the
derivative's fair value be recognized in earnings unless specific hedge
accounting criteria are met. The adoption of SFAS No. 133 will have no impact on
the Company.
In December 1999, the Securities and Exchange Commission issued Staff Accounting
Bulletin ("SAB") No. 101, REVENUE RECOGNITION IN FINANCIAL STATEMENTS. SAB No.
101 summarizes the staff's views in applying generally accepted accounting
principles to revenue recognition in financial statements. The adoption of the
provisions of SAB No. 101 did not have a material effect on the Company's
revenues or revenue recognition policy.
(3) CONVERTIBLE DEBENTURES AND NOTES PAYABLE
The Company entered into an Agreement and Plan of Reorganization in which the
Company will merge with Enpetro Mineral Pool, Inc. ("Enpetro"). The agreement is
subject to shareholder approval. Enpetro is a newly formed entity and intends to
develop certain oil and natural gas reserves. The agreement stipulates that the
Company will acquire all of the outstanding voting shares of Enpetro for
228,000,000 post reverse split common shares of the Company. The shareholders of
Enpetro will own a substantial controlling interest in the Company. The Company
changed its name from Accord Advanced Technologies, Inc. to Central Utilities
Production Corp.
For financial accounting purposes, the acquisition was a reverse acquisition of
the Company by Enpetro, under the purchase method of accounting, and was treated
as a recapitalization with Enpetro as the acquirer. Accordingly, the historical
financial statements have been restated after giving effect to the acquisition
of the Company. The financial statements have been prepared to give retroactive
effect to January 1, 2001, of the reverse acquisition, and represent the
operations of Enpetro. Consistent with reverse acquisition accounting: (i) all
of Enpetro's assets, liabilities, and accumulated deficit, are reflected at
their combined historical cost (as the accounting acquirer) and (ii) the
preexisting outstanding shares of the Company (the accounting acquiree) are
reflected at their net asset value as if issued on the date of acquisition.
Enpetro acquired certain oil and gas properties for the issuance of its common
shares. The value of the transaction was determined on the basis of the
estimated fair value of those oil and gas properties, primarily interest in oil
and gas leases. The valuation was assessed by an outside party certified to be a
specialist in determining oil and gas reserves and valuation of the related
properties. The value was determined to be$26,112,698.
The prior year periods reflect the operations of the Company. There were no
operations for Enpetro prior to the reverse acquisition.
COMMON STOCK
The Company's shareholders approved a one for two reverse stock split.
The Company shareholders approved an increase in the number of authorized shares
to 500,000,000.
The Company issued 228,000,000 shares in connection with the reverse merger.
7
CONVERTIBLE DEBENTURES
In connection with the reverse merger, the Company entered into an agreement to
sell $500,000 of convertible debentures. The debentures will be due May 31, 2002
and bear interest at 12% per annum. The debentures are convertible at the lower
of $0.23 per share or 60% of the average of the lowest three inter-day trading
price. The debenture holders also will receive warrants to purchase 250,000
shares of the Company's common stock at $0.253 per share. The debentures contain
a beneficial conversion feature and under generally accepted accounting
principles, the intrinsic value of the beneficial conversion feature was
recorded as a discount to the related debentures. The discount was determined to
be $333,333 and was amortized as interest expense immediately in the three
months ended June 30, 2001 because the debenture holders have the right to
convert the debentures immediately upon issuance.
On June 22, 2000, the Company executed a Secured Convertible Debenture Purchase
Agreement in the amount of $1,000,000. Of the total commitment amount, $500,000
was funded by the purchaser. The debentures are due June 30, 2001 and bear
interest at 12% per annum. The debenture agreement also provides the purchaser
warrants to purchase 500,000 shares of the Company's common stock at $0.253 per
share. The debentures are convertible into the Company's common stock at the
lower of $0.23 per share or 60% of the lowest three inter-day trading price. The
Company recorded a discount on the debentures of $500,000 representing the
maximum discount for the beneficial conversion feature contained in the
debentures. The discount was amortized as of the date of issuance due to the
immediate conversion option of the purchaser. The Company is attempting to
refinance the debenture.
NOTES PAYABLE
In the three month period ended September 30, 2001, the Company entered into an
agreement whereby a lender has committed to loan the Company up to $750,000
under a promissory note. The borrowings are to be funded through December 15,
2001. The Company has drawn $300,000 under the note as of September 30, 2001.
The note bears interest at 10% per annum and requires repayment of 33
installments of $26,307 beginning December 31, 2001.
The Company acquired additional oil and gas properties through the issuance of a
promissory note of $125,000. The Note bears interest at 9% per annum and is
payable in nine monthly installments of $15,139 beginning September 30, 2001.
COMMMITMENTS
During the three months ended September 20, 2001, the Company entered into an
agreement with a third party operator of oil and gas properties whereby the
third party will provide equipment and services to the Company to assist the
Company in the production of its properties. The agreement requires the Company
to pay $400,000 for these services to be performed over a one-year period
beginning August 11, 2001.
(4) DISCONTINUED OPERATIONS
In the year ended December 31, 2000, the Company's only operating subsidiary,
Accord SEG, began the process of being liquidated under Chapter 7 of the United
States Bankruptcy Code. Liquidation through the bankruptcy court is expected to
be completed in 2001. Revenues from the discontinued operations totaled $58,134
and $2,169,165 for the nine months ended September 30, 2001 and 2000
respectively. Revenues from the discontinued operations totaled $-0- and
$356,527 for the three months ended September 30, 2001 and 2000 respectively.
(5) LEGAL SETTLEMENT
In the three month period ended June 30, 2001, a third party was awarded a court
ordered judgment against the Company for $345,000. The Company is presently
negotiating with the third party to have this debt characterized as a
convertible debenture through a convertible debenture agreement. If this
agreement is reached, it is likely to include; a five year maturity, a below
market interest rate, a conversion rate at a discount to the trading value of
the Company's common stock and detachable warrants. The $345,000 was accrued at
December 31, 2000.
8
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
This Form 10-QSB contains certain statements that are not related to historical
results, including, without limitations, statements regarding the company's
business strategy and objectives and future financial position, are forward
looking statements within the meaning of section 27A of the securities act and
section 21E of the Exchange Act and involve risks and uncertainties. Although
the company believes that the assumptions on which these forward looking
statements are based are reasonable, there can be no assurance that such
assumptions will prove to be accurate and actual results could differ materially
from those discussed in the forward looking statements. Factors that could cause
or contribute to such differences include but are not limited to, those set
forth in the preceding paragraph, as well as those discussed elsewhere in this
report. All forward-looking statements contained in this report are qualified in
their entirety by this cautionary statement.
The registrant has developed a new strategic direction.
The registrant agreed to enter into an Agreement and Plan of Reorganization with
Enpetro Mineral Pool, a Nevada Corporation subject to the settlement of the
issues with GEM Management, Ltd. and Successway Holdings Ltd.
Enpetro Mineral Pool is a Nevada corporation with offices in Dallas Texas and
New York City. It was formed in October of 2000. Enpetro exchanged its stock for
oil and gas leases from Central Utilities LPC, Inc. The value of the transaction
is $43,634,593. Enpetro has merged with the registrant and the registrant has
changed its name to Central Utilities Production, Corporation.
On May 18th 2001, GEM Management, Ltd. and Successway Holdings Ltd. entered into
a settlement agreement with the registrant as set out in Item 3 "Legal
Proceedings".
The registrant, on May 18th 2001 entered into an Agreement and Plan of
Reorganization with Enpetro Mineral Pool, a Nevada Corporation. The agreement
called for the acquisition of all the shares of stock of Enpetro to be purchased
by the registrant for 228,000,000 common shares, restricted pursuant to Rule
144, of the registrant. The agreement also called for the resignation of Travis
Wilson the registrant's President and CEO, a reverse stock split of two shares
of the old company for 1 share of the new company. The agreement went on to
require the registrant to change its name to Central Utilities Production
Corporation. In order to facilitate the agreement it was also required to
increase the number of authorized shares to 500,000,000. The majority of the
Shareholders have approved all of the above conditions found in the Agreement.
The majority of the acquiring shareholders and especially the new CEO of the
registrant have over 30 years of experience developing oil and gas properties in
this region and expended over 30 Million dollars acquiring oil and gas assets,
some of which now form the core of Central Utilities Production Corp.
The core of the existing business is the large quantity of proven natural gas
reserves accessible to and owned by the registrant. Expanding from this base the
company intends to develop an integrated network of natural gas transmission and
distribution systems to sell this gas directly to industrial, commercial and
residential customers. This network will be developed through a combination of
acquisition of existing utility companies, pipelines, and distribution systems
as well as the construction of new pipelines and distribution systems where
economics dictate. As the network develops additional gas reserves will be
acquired to ensure a long-term supply.
Based upon the report of an independent petroleum engineer who is also a
certified professional geologist the net present value of the oil and gas assets
of the company, after substantial discounts, totals $43,634,593.
9
Upon the settlement with GEM and Successways and the merger with Enpetro, two
existing debenture holders of the registrant, AJW Partners, LLC. and New
Millennium Capital Partners II, LLC. purchased a total of $500,000 in new 12%
convertible debentures due May 31, 2002. The holders were also granted a total
of 250,000 warrants at $.253 per share. The registrant and the debenture holders
executed a second amendment to the original Secured Convertible Purchase
Debenture Agreement.
The company will register the shares underlying the above Convertible Debentures
On May 23, 2001 the company was deleted from trading on the OTC BB and is now
quoted on the Pink Sheets. The quote may be found on www.pinksheets.com.
RESULTS OF OPERATIONS
The company had an operating loss for the three months ended September 30, 2001
of $(50,198) and $(45,313) for the nine months ending September 30, 2001.
The company's net loss was $(207,233) for the three months ended September 30,
2001 and $(797,974) for the three months ended September 30, 2000. The net loss
for nine months ended September 30, 2001 was $(910,156) compared to $(2,453,855)
for the nine month period ending on September 30, 2000.
The company's earnings per share, on a fully diluted basis, for the three months
ending September 30, 2001 and for the three months ending September 30, 2000 is
less than $0.005 per share.
The Company expects to face many operating and industry challenges and will be
doing business in a highly competitive industry.
Capital reserves at September 30, 2001 were positive and the company has
adequate working capital to continue its operations at its present level. The
Company plans to increase working capital through the sale of stock as well as
strategic mergers or acquisitions in the industry to increase revenue and cash
flow.
LIQUIDITY AND CAPITAL RESOURCES
The company is using the funds operating the oil and gas properties with the
funds raised through the convertible debenture.
SEASONALITY
The Company's operations are not affected by seasonal fluctuation. However, cash
flows may at times be affected by fluctuations in the timing of cash receipts.
CAUTIONARY FACTORS THAT MAY AFFECT FUTURE RESULTS
ADDITIONAL FINANCING
The Company will require additional financing to achieve growth in operations.
COMPETITION
The Company faces competition from many sources, most of which are larger and
have significantly more resources than the Company.
10
PART II - OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
The registrant entered into a settlement agreement with GEM Partners et al,
which calls for the company to make cash payments of $500,000.00 within one
year. Two Hundred and Twenty Thousand Dollars ($220,000) has been paid toward
that settlement. The company has not met its obligation to remit the next
payment of $100,000 and a consent judgment has been entered in the court against
the company. The registrant, on May 18, 2001, settled this matter with GEM by
entering into a Convertible Debenture Purchase Agreement and a 2% Convertible
Debenture for $340,000. The consent judgment has been placed in escrow and upon
the conversion of the underlying shares or payment the judgment will be set
aside and the case will be dismissed.
ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS
None
ITEM 3. DEFAULT UPON SENIOR SECURITIES
None
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
None during this reporting period
ITEM 5. OTHER INFORMATION
None
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) Exhibits
None
(b) Reports on Form 8-K
The Company filed no reports on Form 8-K during this reporting period.
11
SIGNATURES
In accordance with Section 12 of the Securities Exchange Act of 1934, the
Registrant caused this registration statement to be signed on its behalf by the
undersigned thereunto duly authorized.
Central Utilities Production Corporation
June 20, 2002 By /s/ Stan Dedmon
--------------------------------------
Stan Dedmon
Director and President
12