SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB
[X] Quarterly Report Under Section 13 or 15(d) of the Securities Exchange
Act of 1934
For Quarter Ended: June 30, 2001
OR
[ ] Transition Report Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Commission File No. 333-46160
FBI FRESH BURGERS INTERNATIONAL
(Exact name of registrant as specified in its charter)
California 91-2021594
(State of incorporation) (I.R.S. Employer I.D.)
827 State Street, Suite 14
Santa Barbara, CA 93101
(805) 560-1308 (PHONE)
(805) 560-3608 (FAX)
(Address and telephone number of principal executive offices
and principal place of business)
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days. Yes [ X ] No [ ]
As of June 30, 2001, the Registrant had a total of 2,074,400 shares of
common stock issued and outstanding.
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PART I: FINANCIAL INFORMATION
ITEM 1: FINANCIAL STATEMENTS
FBI FRESH BURGERS INTERNATIONAL
(A DEVELOPMENT STAGE COMPANY)
BALANCE SHEETS
June 30, June 30,
2000 2001
-------- --------
Assets: ............................................ $ $ -
======= ========
Liabilities - Accounts Payable ..................... $ $ --
------- --------
Stockholders' Equity:
common stock, Par value $.001
Authorized 100,000,000 shares,
Issued 1,950,000 shares and 2,075,400 respectively 1,950 2,075
Paid-In Capital .................................. --
Deficit accumulated during development stage (1,950) (2,075)
------- --------
Total Stockholders' Equity .................... -
------- --------
Total Liabilities and
Stockholders' Equity ........................ $ -
======= ========
The accompanying notes are an integral part of these financial statements.
FBI FRESH BURGERS INTERNATIONAL
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF OPERATIONS
For the period
ended June 30, 2000 June 30, 2001
------------------- --------------
Revenues: ............................ $ -- $ 0
----- ----------
Expenses:
Professional fees $ 1,000 $ 15,400
General and Administrative Expenses: .... 950 110,000
----- ----------
Total 1,950 125,400
----- ----------
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Net Loss ..............................$ (1,950) $ 125,400
----- ---------
Loss per share .............................$ -- $ (.06)
===== ======
The accompanying notes are an integral part of these financial statements.
FBI FRESH BURGERS INTERNATIONAL
(A DEVELOPMENT STAGE COMPANY)
STATEMENT OF STOCKHOLDERS' EQUITY
FOR THE TEN MONTHS ENDED DECEMBER 31, 2000
Common stock Additional
Number of Shares Amount Paid in Retained
Capital (Deficit) Total
----------------- -------- --------- --------- -----
common stocks issued:
for services 2/1/2000 805,000 $805 $ -- $ 805 $ --
for services 2/1/2000 805,000 $805 $ -- $ 805 $ --
for services 2/1/2000 200,000 $200 $ -- $ 200 $ --
for services 6/1/2000 70,000 $ 70 $ -- $ 70 $ --
for services 6/1/2000 70,000 $ 70 $ -- $ 70 $ --
Net loss for
Balance 6/30/2000 1,950,000 $1,950 $ -- $(1,950) $ -
Common Stocks issued
for cash March 7, 2001 15,400 $ 15 $ 15,385
Common Stocks issued
for services May 15, 2001 110,000 $ 110 $ 109,890 (127,350) $ --
Balance June 30, 2001 2,075,400 $2,075 $ 125,275
Net Loss for June 30, 2001 (125,400) $ --
----------------- -------- --------- --------- -----
The accompanying notes are an integral part of these financial statements.
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FBI Fresh Burgers International
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF CASH FLOWS
For the period ended
June 30, 2000 June 30,
------------------- 2001
---------
CASH FLOWS FROM OPERATING
ACTIVITIES:
Operating Activities
Stock issued for services $ 1,950 $ 110,000
Net (Loss) profit ................................... $(1,950) $( 25,400)
------- ----------
Net Cash (Used) provided by operating activities .... 0 $ (25,400)
------- ----------
CASH FLOWS FROM FINANCING
ACTIVITIES:
------- ----------
Net Cash Provided by
Financing Activities .............................. $ 15,400
------- ----------
Cash and Cash Equivalents
at Beginning of Period ............................ -- 15,400
------- ----------
Cash and Cash Equivalents
at End of Period .................................. $ -- $ --
======= ==========
The accompanying notes are an integral part of these financial statements.
FBI FRESH BURGERS INTERNATIONAL
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2001
GENERAL
-------
FBI FRESH BURGERS INTERNATIONAL,(the Company) has elected to omit substantially
all footnotes to the financial statements for the three months ended March 31,
2001 since there have been no material changes (other than indicated in other
footnotes) to the information previously reported by the Company in their
registration statement on Form SB-2.
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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 interim period presented. The information presented is not
necessarily indicative of the results from operations expected for the full
fiscal year.
In this report references to "we," "us," and "our" refer to FBI FRESH
BURGERS INTERNATIONAL.
FORWARD LOOKING STATEMENTS
This Form 10-QSB contains certain forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. For this purpose any
statements contained in this Form 10-QSB that are not statements of historical
fact may be deemed to be forward-looking statements. Without limiting the
foregoing, words such as "may," "will," "expect," "believe," "anticipate,"
"estimate" or "continue" or comparable terminology are intended to identify
forward-looking statements. These statements by their nature involve
substantial risks and uncertainties, and actual results may differ materially
depending on a variety of factors, many of which are not within MERCURY
SOFTWARE's control. These factors include but are not limited to economic
conditions generally and in the industries in which MERCURY SOFTWARE may
participate; competition within MERCURY SOFTWARE's chosen industry, including
competition from much larger competitors; technological advances and failure by
MERCURY SOFTWARE to successfully develop business relationships.
ITEM 2: MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS
Results of Operations
Since inception, we have had no revenues and generated losses. We have financed
our operations primarily through the sale of our common stock or by loans from
shareholders. The net loss for the three months ended June 30, 2001 was
$125,400, compared to a net loss of profit $1,950 for the same period of 2000.
The difference is insignificant, and a comparison of the two periods is not
meaningful, due to the fact that we have had minimal operations and nominal
expenses since inception.
Liquidity and Capital Resources
As of June 30, 2001, we had $0 cash on hand and total current liabilities of
$0. We have no material commitments for the next twelve months. We believe
that our current cash needs for at least the next twelve months can be met by
loans from our directors, officers and shareholders. Due to our lack of cash
and current liabilities since inception, management believes a comparison of
the period ended June 30, 2001 and the period June 30, 2000 would not be
meaningful.
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PART II: OTHER INFORMATION
ITEM 6: EXHIBITS AND REPORTS ON FORM 8-K
(a) Exhibits.
None.
(b) Reports on Form 8-K.
None.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned who is duly authorized.
FBI FRESH BURGERS INTERNATIONAL
Dated: August 6, 2001 By: Artum Gotov
--------------------------------
Artum Gotov, President
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