SEC Filing | Smith & Wesson

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 December 31, 1999 [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from __________________ to __________________ Commission File Number 0-29015 CIK Number 0001092796 LOST COAST VENTURES, INC. (Exact Name of small business issuer as specified in its charter) Delaware 33-0619532 (State or other Jurisdiction of I.R.S. Employer Identi- Incorporation or Organization fication No.) 24351 Pasto Road, #B, Dana Point, California 92629 (Address of Principal Executive Offices) (Zip Code) (949) 489-2400 (Issuer's Telephone Number, including Area Code) Indicate by check mark whether the Registrant (i) 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 (of for such shorter period that the Registrant was required to file such reports) and (ii) has been subject to such filing requirements for the past 90 days. Yes No X Indicate the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date. Common Stock, $.001 par value 1,000,000 - ---------------------------------- --------------------- Title of Class Number of Shares outstanding at December 31, 1999 Transitional Small Business Format Yes No X No exhibits included. 1

LOST COAST VENTURES, INC. (A Company in the Development Stage) BALANCE SHEETS ASSETS June 30, December 31, 1999 1999 TOTAL ASSETS $ $ LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $ 108 $ 108 Accounts payable - related party 993 993 TOTAL LIABILITIES $ 1,101 $ 1,101 STOCKHOLDERS' EQUITY Preferred Stock, $.001 par value; 1,000,000 shares authorized; no shares issued and outstanding Common Stock, $.001 par value; 20,000,000 shares authorized; 1,000,000 shares issued and outstanding 1,000 1,000 Additional paid-in capital 15 15 Accumulated deficit during the development stage (2,116) (2,116) TOTAL STOCKHOLDERS' EQUITY (1,101) (1,101) TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ $ The accompanying notes are an integral part of the financial statements. 2

LOST COAST VENTURES, INC. (A Company in the Development Stage) STATEMENTS OF OPERATIONS CUMULATIVE FOR THE SIX FOR THE THREE FROM INCEPTION MONTHS ENDED MONTHS ENDED (April 20, 1994) December 31, December 31, TO 1999 1998 1999 1998 December 31, 1999 REVENUES $ $ $ $ $ OPERATING EXPENSES General and Administrative 1,101 Amortization 24 12 1,015 TOTAL OPERATING EXPENSES 12 2,116 NET (LOSS) (24) $ (12) $ (2,116) NET (LOSS) PER SHARE $ $ (Nil) $ $ (Nil) $ (Nil) WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 See accompanying Notes to Financial Statements. 3

LOST COAST VENTURES, INC. (A Company in the Development Stage) STATEMENTS OF CASH FLOWS CUMULATIVE FOR THE SIX FOR THE THREE FROM INCEPTION MONTHS ENDED MONTHS ENDED (April 20, 1994) December 31, December 31, TO 1999 1998 1999 1998 December 31, 1999 CASH FLOWS FROM OPERATING ACTIVITIES Net (Loss) $ $ (24) $ $ 12 $ (2,116) Add item not requiring the use of cash - amortization 24 12 1,015 Increase (decrease) in accounts payable 1,101 Net cash flows from operating activities CASH FLOWS FROM INVESTING ACTIVITIES Organizational Costs (1,015) CASH FLOWS FROM FINANCING ACTIVITIES Sale of Common Stock 1,015 Net Cash flows from financing activities 1,015 NET INCREASE (DECREASE) IN CASH CASH BALANCE AT BEGINNING OF PERIOD CASH BALANCE AT END OF PERIOD $ $ $ $ $ See accompanying Notes to Financial Statements. 4

LOST COAST VENTURES, INC. (A Company in the Development Stage) NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED) December 31, 1999 1. Comments The accompanying financial statements are unaudited, but in the opinion of the management of the Company, contain all adjustments, consisting of only normal recurring accruals, necessary to present fairly the financial position at December 31, 1999, the results of operations for the six and three months ended December 31, 1999 and 1998, and the cash flows for the six and three months ended December 31, 1999 and 1998. Reference is made to the Company's Form 10SB filed on November 17, 1999. The results of operations for the six and three months ended December 31, 1999 are not necessarily indicative of the results of operations to be expected for the full fiscal year ending June 30, 2000. Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION The Company has limited working capital and no activities. PART II. OTHER INFORMATION Item 1. LEGAL PROCEEDINGS - None Item 2. CHANGES IN SECURITIES - None --------------------- Item 3. DEFAULTS UPON SENIOR SECURITIES - None ------------------------------- Item 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS - None --------------------------------------------------- Item 5. OTHER INFORMATION - None Item 6. EXHIBITS AND REPORTS ON FORM 8-K Exhibits--None Reports on Form 8-K--None. 5

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 thereunto duly authorized. LOST COAST VENTURES, INC. Date: April 2, 2000 By:/s/ Jehu Hand ------------- Jehu Hand, President and Chief Financial Officer (chief financial officer and duly authorized officer) 6

5 THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE STATEMENTS FOR THE SIX MONTHS ENDED DECEMBER 31, 1999 AND AS OF DECEMBER 31, 1999 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. 0001092796 LOST COAST VENTURES, INC. 1 US dollars 6-MOS Jun-30-2000 Jul-01-1999 Dec-31-1999 1 0 0 0 0 0 0 0 0 0 1,101 0 0 0 1,015 (2,101) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 .00 .00