(COMTEX) Management's Discussions: 10QSB, ZEROS & ONES INC
Management's Discussions: 10QSB, ZEROS & ONES INC
(Edgar Online via COMTEX)
Company Name: ZEROS & ONES INC
(SYMBOL:ZOZO)
MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND
FINANCIAL CONDITION
BACKGROUND
During the fiscal quarter ended June 30, 1999, management caused
the Company to enter into plans of reorganization, asset purchase, and
exchange agreements to acquire six small private Internet technology
and media companies. The acquisitions closed effective July 1, 1999.
The Company's financial statements as of and for the period ending June
30, 1999 do not reflect the assets or operations of those companies.
RESULTS OF OPERATIONS FOR THE THREE MONTH PERIOD IN 1999 COMPARED TO
THE SAME
PERIOD IN 1998
The Company had no revenues for the three month period ending June
30, 1999 nor the three month period ending June 30, 1998. The Company
incurred no operating expenses in the three month period in 1999 or
1998. The Company had no profit or loss from operations in the three
month period ending 1999 or 1998.
RESULTS OF OPERATIONS FOR SIX MONTH PERIOD ENDED JUNE 30, 1999
COMPARED TO THE
SAME PERIOD IN 1998.
The Company incurred operating expenses of $14,450 and earned no
revenues during the six months ended June 30, 1999 and incurred no
operating expenses and earned no revenue during the same period ending
June 30, 1998. Profit/loss for the six month period ending June 30,
1999 was ($14,450) as compared to ($202,326) in the same period in
1998. The loss in the six months ending June 30, 1998 resulted from the
Company writing off tax benefits previously anticipated to be
available.
LIQUIDITY AND CAPITAL RESOURCES
The Company has no working capital deficit as of June 30, 1999. As
of June 30, 1999, the Company has no tangible assets and no
liabilities. Effective July 1, 1999, the Company completed the
acquisition of several small, private Internet technology and media
related companies, as reported in the Company's Report on Form 8-K
dated July 7, 1999. As a result of the acquisition, the Company will
need substantial capital to implement the business plans of the newly
acquired subsidiaries. The Company plans to attempt to obtain the
capital in a private placement of its common stock. There is absolutely
no assurance the Company will be able to raise any additional capital
or financing, which could substantially hinder the Company's ability to
implement its business plan. Additional information regarding the newly
acquired businesses is included in the Company's Report on Form 8-K
dated July 7, 1999.
(c) 1995-1999 Cybernet Data Systems, Inc. All Rights Reserved.
Received by Edgar Online: Aug. 09, 1999
CIK Code: 0000845807
SEC Accession Number: 0001072588-99-000072
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