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QUARTERLY REPORT
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 the quarterly period ended June 30, 2001
[ ] TRANSITION REPORT UNDER SECTION 14 OR 15(D) OF THE EXCHANGE
ACT
For the transition period from__________ to ___________
LEBLANC & ASSOCIATES, INC..
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(Name of Registrant as specified in its charter)
N/A
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(Former Name of Registrant)
Florida 0-32271 Applied For
--------- ------------ ------------
(State or other jurisdiction of (Commission File (IRS Employer
incorporation or organization) No.) Identification No.)
304-700 West Pender Street, Vancouver, British Columbia V6C1G8
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(Address and telephone number of principal executive offices)
Check whether the issuer has (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 report(s), and (2)
has been subject to such filing requirements for the past 90 days.
Yes (X ) No ( )
APPLICABLE ONLY TO CORPORATE ISSUERS
State the number of shares outstanding of each of the issuer's classes of common
equity , as of the latest practicable date: June 30, 2001
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CLASS Outstanding at June 30, 2001
- ----------------------------------------- ----------------------------
Common stock $.001 Par Value 2,491,100
<PAGE>
LEBLANC & ASSOCIATES, INC.
PART I: FINANCIAL INFORMATION PAGE
----
Balance Sheet as of June 30, 2001 (Unaudited)
and December 31, 2000 3
Statement of Operations for the Three Months and Six
Months Ended June 30, 2001 (Unaudited) 4
Statement of Cash Flows for the six months
Ended June 30, 2001 (Unaudited) 5
Notes to Financial Statements
(Unaudited) as of June 30, 2001 6
Management Discussion and Analysis of Financial
Condition and Results of Operations 7
2
<PAGE>
LeBlanc & Associates, Inc.
(A Development Stage Company)
Balance Sheets
--------------
<TABLE>
<CAPTION>
June 30, 2001
(Unaudited) December 31, 2000
-------------- -----------------
Assets
------
<S> <C> <C>
Cash $ 937 $ 15,000
-------- --------
Total Assets $ 937 $ 15,000
======== ========
Liabilities and Stockholders' Equity (Deficiency)
-------------------------------------------------
Liabilities
Convertible note payable $ 11,000 $ 11,000
-------- --------
Total Liabilities 11,000 11,000
-------- --------
Stockholders' Equity (Deficiency)
Common stock, $0.001 par value,
100,000,000 shares authorized,
2,491,100 and 1,000,000 shares
issued and outstanding, respectively 2,491 1,000
Additional paid-in capital 10,064 4,000
Deficit accumulated during
development stage (22,618) (1,000)
-------- --------
Total Stockholders' Equity
(Deficiency) (10,063) 4,000
-------- --------
Total Liabilities and Stockholders'
Equity (Deficiency) $ 937 $ 15,000
======== ========
</TABLE>
See accompanying notes to financial statements.
3
<PAGE>
LeBlanc & Associates, Inc.
(A Development Stage Company)
Statements of Operations
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(Unaudited)
Three months Six months
ended ended
June 30, 2001 June 30, 2001
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Operating Expenses
General and administrative $ 2,217 $ 4,518
Legal fees 600 17,100
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Total Operating Expenses 2,817 21,618
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Net Loss $ (2,817) $ (21,618)
=========== ===========
Net loss per common share - basic
and diluted $ -- $ (0.01)
=========== ===========
Weighted average shares outstanding
- basic and diluted 2,491,000 1,791,561
=========== ===========
See accompanying notes to financial statements.
4
<PAGE>
LeBlanc & Associates, Inc.
(A Development Stage Company)
Statement of Cash Flows
-----------------------
Six months ended
June 30, 2001
(Unaudited)
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Cash flows from operating activities
Net loss $(21,618)
--------
Net cash used in operating activities (21,618)
--------
Cash flows from financing activities
Proceeds from issuance of common stock 7,455
Proceeds from contributed capital 100
--------
Net cash provided by financing activities 7,555
--------
Decrease in cash and cash equivalents 14,063
Cash and cash equivalents at beginning of period 15,000
Cash and cash equivalents at end of period $ 937
========
See accompanying notes to financial statements.
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<PAGE>
LeBlanc & Associates, Inc.
(A Development Stage Company)
Notes to Financial Statements
4
Note 1 Basis of Presentation
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The accompanying unaudited financial statements have been prepared in accordance
with generally accepted accounting principles and the rules and regulations of
the Securities and Exchange Commission for interim financial information.
Accordingly, they do not include all the information and footnotes necessary for
a comprehensive presentation of financial position and results of operations.
It is management's opinion, however, that all material adjustments (consisting
of normal recurring adjustments) have been made which are necessary for a fair
financial statement presentation. The results for the interim period are not
necessarily indicative of the results to be expected for the year.
For further information, refer to the audited financial statements and footnotes
for the period from October 30, 2000 (inception) to December 31, 2000 included
in the Company's Form 10-SB.
Note 2 Going Concern
- ----------------------
As reflected in the accompanying financial statements for the six months ended
June 30, 2001, the Company is inactive, has a net loss from operations of
$21,618, an accumulated deficit of $22,618, net cash used in operations of
$21,618, and a working capital deficiency of $10,063. The ability of the Company
to continue as a going concern is dependent on the Company's ability to develop
a business plan or locate a merger/acquisition candidate. Management is
currently seeking a merger/acquisition candidate. The accompanying financial
statements do not include any adjustments that might be necessary if the Company
is unable to continue as a going concern.
6
<PAGE>
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
THE FOLLOWING DISCUSSION OF THE RESULTS OF OUR OPERATIONS AND FINANCIAL
CONDITION SHOULD BE READ IN CONJUNCTION WITH OUR FINANCIAL STATEMENTS AND THE
NOTES THERETO INCLUDED ELSEWHERE IN THIS REPORT. EXCEPT FOR THE HISTORICAL
INFORMATION CONTAINED HEREIN, THE DISCUSSION CONTAINED IN THIS REPORT CONTAINS
"FORWARD-LOOKING STATEMENTS" THAT INVOLVE RISK AND UNCERTAINTIES. THESE
STATEMENTS MAY BE IDENTIFIED BY THE USE OF FORWARD-LOOKING TERMINOLOGY SUCH AS
"BELIEVES," "EXPECTS," "MAY," "WILL," "SHOULD" OR "ANTICIPATES" OR THE NEGATIVE
THEREOF OR SIMILAR EXPRESSIONS OR BY DISCUSSIONS OF STRATEGY. THE CAUTIONARY
STATEMENTS MADE IN THIS REPORT SHOULD BE READ AS BEING APPLICABLE TO ALL RELATED
FORWARD-LOOKING STATEMENTS WHEREVER THEY APPEAR IN THIS REPORT. OUR ACTUAL
RESULTS COULD DIFFER MATERIALLY FROM THOSE DISCUSSED IN THIS REPORT.
Results of Operations
For the six months ended June 30, 2001 the Company has not generated any
revenues. Management's efforts to date have been devoted to focusing on
prospective business opportunities to effect a merger, exchange of capital
stock, asset acquisition or other similar business combination. The Company has
incurred operating losses to date of $21,618 and will continue to incur losses
until such time as an acquisition candidate is identified and, even if
successful in acquiring a business or consummating a business combination, there
can be no assurance that this business will be profitable.
Liquidity and Capital Resources
The Company has cash of $937 and liabilities totaling $11,000 consisting of a
convertible note. The investigation of prospective business candidates will
involve the expenditure of capital. The Company will likely have to look to its
sole officer or third parties for additional capital. There can be no assurance
that the Company will be able to secure additional financing or that the amount
of any additional financing will be sufficient to conclude a business
combination or to pay ongoing operating expenses.
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<PAGE>
PART II. OTHER INFORMATION AND SIGNATURES
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
LEBLANC & ASSOCIATES, INC.
/s/ Clarence LeBlanc
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BY: /s/ Clarence LeBlanc, president
Dated: This 10th day of August, 2001
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