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Quarterly Report (SEC form 10QSB)

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Bev9999 Member Level  Monday, 08/13/01 09:43:03 PM
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Quarterly Report (SEC form 10QSB)
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS

The following discussion is intended to provide an analysis of the Company's financial condition and Plan of Operation and should be read in conjunction with the Company's financial statements and the notes thereto. The matters discussed in this section, that are not historical or current facts, deal with potential future circumstances and developments. Such forward-looking statements include, but are not limited to, the development plans for the technologies of the Company, trends in the results of the Company's development, anticipated development plans, operating expenses and the Company's anticipated capital requirements and capital resources. The Company's actual results could differ materially from the results discussed in the forward-looking statements.

The Company has not generated revenue from operations during the first six months of 2001 or since its inception. During the second quarter of 2001, the Company began the quarter with $63,266 in cash and received $100,000 under the terms of its debenture. At July 20, 2001, the Company had a working capital deficit. The Company had approximately $1,500 in cash and trade payables of approximately $5,000 at that date.

During the second quarter, the Company had cash disbursements of approximately $50,000 in officer consulting fees, $22,000 in general counsel and legal fees to submit its registration statement, $16,500 in travel expenses, $12,000 in director fees, $10,500 for investor relation expenses, $5,500 for office expenses, $3,000 for auditing costs, $2,665 in interest expense on the debenture and approximately $8,000 on other general and administrative costs.

During the second quarter of the year 2000, a total of $856,755 was spent primarily for research and general and administrative costs. A total of $661,416 of that amount was paid in stock at the current trading price at the time of issuance. The periods are not comparable because during 2000 the Company was active in trying to develop its Magnesite software program and pursue the Silcon Carbide purification by building small reactors capable of impurity removal which were donated to the University of Missouri. During the second quarter of 2001, the Company had not performed any research and was evaluating its patents pertaining to diamond doping and disperse composite material for application.

During the first two weeks of July 2001, the Company had approximate cash disbursements of $15,000 in officer consulting fees, $5,500 in travel and office expenses and $7,500 in general counsel and auditor costs.

During the second quarter of 2001 extensive travel was incurred to meet with the inventors of the Company's patents for Disperse Composite Material in Russia. The meetings were favorable. Other meetings resulted in the Company pursing an exclusive licensing arrangement to obtain diamond powder suitable for future development work.

In early July 2001, the Company terminated its investor relation representative and hired a scientific consultant to evaluate all of the patents and patent applications of the Company for relevance to potential commercial applications. After receiving an evaluation of the commercial viability of applications for its patents, the Company will establish budgets for development programs.

The Company is currently seeking to raise capital under financing arrangements with better terms than the debenture that has been cancelled as a result of withdrawing the registration statement.

The Company does not have any employees and uses consultants for matters pertaining to coordinating technology development and administration. The Company may hire employees during the next twelve months depending upon its success in developing prototype applications for sale and financing more development.

This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Exchange Act of 1934. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which the forward-looking statements are based are reasonable, it can give no assurance that such expectations and assumptions will prove to be correct.





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