U.S. SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 10-QSB/A
AMENDMENT NO. 1
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For quarterly period ended September 30, 2001
[ ] 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: 0-25909
BuckTV.com, Inc.
----------------------------------------------------
(Exact name of Small Business Issuer in its Charter)
Nevada 86-0931332
------------------------------ -------------------
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
865 N Lamb Blvd, Suite 13, PMB 301, Las Vegas, NV 89110
---------------------------------------------------------
(Address of principal executive offices)
(626) 434-1032
---------------------------
(Issurer's telephone number
Check whether the issuer: (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 [ ]
State the number of shares outstanding for each of the issuer's
classes of Common Stock as of the last practical date:
Common Stock, $0.001 par value per share, 100,000,000 shares
authorized, 62,816,920 issued and outstanding as of September 30, 2001
Preferred Non-Voting Stock, $0.001 par value per share, 5,000,000
shares authorized, none are issued nor outstanding as of September 30,
2001.
Transactional Small Business Disclosure Format
Yes [ ] No [ X ]
1
BuckTV.com, Inc.
TABLE OF CONTENTS
Item 1. Financial Statements................................. 3
Balance Sheet (unaudited)............................ 4-5
Statements of Operations (unaudited)................. 6
Statements of Cash Flows (unaudited)................. 7
Notes to Financial Statements........................ 8-11
Item 2. Management's Discussion and Analysis of Plan
of Operation........................................ 12
PART II. OTHER INFORMATION
Item 1. Legal Proceedings.................................... 16
Item 2. Changes in Securities and Use of Proceeds............ 16
Item 3. Defaults upon Senior Securities...................... 16
Item 4. Submission of Matters to a Vote
of Security Holders................................. 16
Item 5. Other Information..................................... 16
Item 6. Exhibits and Reports on Form 8-K...................... 17
Signatures...................................................... 17
2
PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS AND EXHIBITS
The unaudited financial statements of registrant for the three
months ended March 31, 2001, follow. The financial statements
reflect all adjustments which are, in the opinion of management,
necessary to a fair statement of the results for the interim period
presented.
3
BUCKTV.COM, Inc.
(A DEVELOPMENT STAGE COMPANY)
BALANCE SHEET
AS AT
September 30, 2001 and December 31, 2000
ASSETS
December 31 September 30
2000 2001
CURRENT ASSETS
Cash 29.00 368.00
Prepaid Expenses 15,000.00 3,000.00
------------- -------------
Total Current Assets 15,029.00 3,368.00
FIXED ASSETS
Equipment 11,799.00 9,936.00
------------- -------------
TOTAL FIXED ASSETS 11,799.00 9,936.00
OTHER ASSETS
Other Assets 5,511,908.00 1,045,002.00
------------- -------------
Total Other Assets 5,511,908.00 1,045,002.00
TOTAL ASSETS 5,538,736.00 1,058,306.00
------------- -------------
------------- -------------
-UNAUDITED-
See accompanying notes to financial statements
4
BUCKTV.COM, Inc.
(A DEVELOPMENT STAGE COMPANY)
BALANCE SHEET
AS AT
December 31, 2000 and September 30, 2001
LIABILITIES & EQUITY
CURRENT LIABILITES
Officers Advances 0.00 0.00
------------- -------------
Total Current Liabilities 0.00 0.00
OTHER LIABILITIES
Loan from Director of Company 300,000.00 300,000.00
------------- -------------
Total Other Liabilities 300,000.00 300,000.00
------------- -------------
Total Liabilities 300,000.00 300,000.00
EQUITY
Common Stock, $.001 par value; 25,801.00 62,817.00
authorized 100,000,000 shares, issued and
outstanding at September 30, 2001, 62,816,920
common shares; issued and outstanding at December
31, 2000, 25,801,920 shares
Preferred Stock, $0.001 par value, authorized 730,936.00 850,471.00
50,000,000 shares; none issued Donated Capital
Additional Paid in Capital 8,909,103.00 9,740,763.00
Retained Earnings (Deficit accumulated
during development stage) (4,427,104.00) (9,895,745.00)
------------- -------------
Total Stockholders' Equity 5,238,736.00 758,306.00
------------- -------------
TOTAL LIABILITIES & OWNER'S EQUITY $5,538,736.00 $1,058,306.00
------------- -------------
------------- -------------
-UNAUDITED-
See accompanying notes to financial statements
5
BUCKTV.COM, Inc.
(A DEVELOPMENT STAGE COMPANY)
STATEMENT OF OPERATIONS
FOR PERIOD
September 21, 1998 (Date of Inception) to September 30, 2001
and
periods ending June 30, 2001 and June 30, 2000
September 21, Period Period
1998 to Ending Ending
September 30, Septermber September
2001 30, 2001 30, 2000
REVENUE
Services 0.00
COSTS AND EXPENSES
General and Administrative 9,892,901.00 5,466,778.00 313,271.00
Amortization Expenses 360.00 0.00
Depreciation Expenses 2,484.00 1,863.00 0.00
------------- ------------- -------------
Total Costs and Expenses 9,895,745.00 5,468,641.00 313,271.00
------------- ------------- -------------
Net Income or (Loss) (9,895,745.00) (5,468,641.00) (313,271.00)
------------- ------------- -------------
------------- ------------- -------------
Basic earnings per share
number of common
shares outstanding 62,816,920 62,816,920 7,636,558
Net Loss Per Share nil nil 0.04
-UNAUDITED-
See accompanying notes to financial statements
6
BUCKTV.COM, Inc.
(A DEVELOPMENT STAGE COMPANY)
STATEMENT OF CASH FLOWS
FOR PERIOD
September 21, 1998 (Date of Inception) to September 30, 2001
Period ended September 30, 2000
Period ended September 30, 2001
September 21 Period Period
1998 to Ended Ended
September September September
30, 2001 30, 2001 30, 2000
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income or (Loss) (9,895,745.00) (5,468,641.00) (313,271.00)
Amortization 360.00 0.00 0.00
Depreciation Expense 2,484.00 1,863.00
Services received for stock 8,745,932.00 5,395,547.00 0.00
Costs and expenses paid by director 778,121.00 64,010.00
Increase/Decrease in other assets (3,000.00) 12,000.00 (15,000.00
Increase/Decrease in liabilities (280.00)
Net change in cash from operations (371,208.00) 4,779.00 (328,551.00)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of equipment (12,800.00) (12,440.00) (12,500.00)
Net change in cash from Investing Activities (12,800.00) (12,440.00) (12,500.00)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuance of Capital Stock 76,376.00 0.00 30,000.00
Advance from Director 300,000.00 0.00 300,000.00
Donated Capital 8,000.00 8,000.00
Net cash provided by financing activities 384,376.00 8,000.00 330,000.00
Balances at beginning of period 0.00 29.00 11,080.00
Net increase (decrease) in cash 368.00 339.00 (11,051.00)
Balance at end of period 368.00 368.00 29.00
-UNAUDITED-
See accompanying notes to financial statements
7
BUCKTV.COM, Inc.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS
NOTE 1 - HISTORY AND ORGANIZATION OF THE COMPANY
The Company was organized September 21, 1998 (Date of Inception) under
the laws of the State of Nevada, as Oleramma, Inc. The Company currently
has no operations and in accordance with SFAS #7, is considered a
development company.
On September 22, 1998, the Company issued 3,000,000 shares of its
$0.001 par value common stock for cash of $8,016.00.
On February 28, 1999, the Company completed a public offering that was
registered with the State of Nevada pursuant to N.R.S. 90.490 and was
exempt from federal registration pursuant to Regulation D, Rule 504 of the
Securities Act of 1933 as amended. The Company sold 767,200 shares of
Common Stock at a price of $0.05 per share for a total amount raised of
$38,360.
On March 10, 2000, the Company issued 3,000,000 shares of its $0.001
par value common stock for cash of $30,000.
On March 28, 2000, the Company filed Form S-8 with the U.S. Securities
and Exchange Commission and issued an additional 1,675,000 shares of its
$0.001 par value common stock for services to the Company.
On April 24, 2000, by Board Resolution the company issued 1,000,000
restricted 144 shares to BuckBuilders.com, Inc., for advertising the
Company's website and auction partners plan.
On June 5, 2000, by Board Resolution the Company issued 200,000
restricted 144 shares to OTC Live, Inc.
On June 15, 2000, by Board Resolution the Company issued 944,220
restricted 144 shares to Myfreestore.com.
On July 21, 2000, by Board Resolution the company issued 500,000
restricted 144 shares to Rodney Schoemann, Sr.
On July 21, 2000, by Board Resolution the company issued 2,000,000
restricted shares to BuckBuilders.com, Inc.
On July 14, 2000, the Company filed Form S-8 with the U.S. Securities
and Exchange Commission and issued an additional 575,000 shares of its
$0.001 par value common stock for services to the Company.
8
BUCKTV.COM, Inc.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS
On August 17, 2000 the Company filed Form S-8 with the U.S. Securities
and Exchange Commission and issued an additional 660,000 shares of its
$0.001 par value common stock for services to the Company.
On September 13, 2000, by Board Resolution, the Company issued 760,000
restricted 144 shares to Washington Hamilton Group, for services.
On November 9, 2000, by Board Resolution, the Company issued 5,000,000
shares of restricted 144 shares to Bry Behrmann and Larry E Hunter.
On December 22, 2000, the Company issued 5,550,000 shares of restricted
144 shares to Stephen Bishop.
On March 2, 2001, the Company filed Form S-8 with the U.S. Securities
and Exchange Commission and issued an additional 10,890,000 shares of its
$0.001 par value common stock for services to the Company.
On April 11, 2001, the Company filed Form S-8 with U.S. Securities and
Exchange Commission and issued an additional 22,625,000 shares of its
$0.001 par value common stock for services to the Company.
On June 1, 2001, the Company filed Form S-8 with the U.S. Securities and
Exchange Commission and issued an additional 3,500,000 shares of its
$0.001 par value common stock for services to the Company.
There have been no other issuances of Common Stock or preferred stock.
NOTE 2 - ACCOUNTING POLICIES AND PROCEDURES
Accounting policies and procedures have not been determined except as
follows:
1. The Company uses the accrual method of accounting recognizing
revenues when it is reasonably expected to be collected.
2. In April, 1998, the American Institute of Certified Public
Accountant's issued Statement of Position 98-5 ("SOP 98-5"), Reporting
on the Costs of Start-Up Activities which provides guidance on the financial
reporting of start-up costs and organizations costs. It requires costs
of start-up activities and organization costs to be expenses as incurred.
SOP 98-5 is effective for fiscal years beginning after December 15, 1998.
The Company adopted SOP 98-5 in 1999.
3. Basic earnings per share is computed using the weighted average
number of shares of common stock outstanding.
9
BUCKTV.COM, Inc.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS
4. The Company has not yet adopted any policy regarding payment of
dividends. No dividends have been paid since inception.
5. The Company experienced losses for its operating periods,
December 31, 1998, December 31, 1999 and December 31, 2000. The
Company will review its need for a provision for federal income tax
after each operating quarter and each period for which a statement of
operations is issued. The net operating losses of $6,811,774.00 will
begin to expire in 2013.
The Company did not record any deferred tax benefits as management
deemed it less than likely that the benefits would be utilized. The
Company has adopted the provisions of FAS 109.
6. The Company has adopted December 31 as its fiscal year end.
7. The preparation of financial statements in conformity with
generally accepted accounting principles requires that management make
estimates and assumptions which affect the reported amounts of assets
and liabilities as at the date of the financial statements and revenues
and expenses for the period reported. Actual results may differ from
these estimates.
8. The Company's Statement of Cash Flows is reported utilizing
cash(currency on hand and demand deposits) and cash equivalents( short-
term, highly liquid investments). The Company did not have any cash
equivalents at the balance sheet date.
The Company had non-cash activities as follows.
Schedule of non-cash activities
March 28, 2000, issued 1,675,000 shares for services to be rendered $2,931,250
April 24, 2000 , issued 1,000,000 shares for services to be rendered 1,200,000
June 5, 2000, issued 200,000 shares for services to be rendered 120,000
June 15, 2000, issued 944,220 shares for services to be rendered 377,688
July 21, 2000, issued 500,000 shares for services to be rendered 135,000
July 21, 2000, issued 2,000,000 shares for services to be rendered 540,000
July 14, 2000, issued 575,000 shares for services to be rendered 155,250
August 17, 2000 issued 660,000 shares for services to be rendered 184,800
September 13, 2000 issued 760,000 shares for services to be rendered 212,800
November 9, 2000, issued 5,000,000 shares for services to be rendered 1,400,000
December 22, 2000, issued 5,720,500 shares for services to be rendered 1,601,740
Director paid expenses for company and donated all costs to company 730,936
March 2, 2001, issued 10,890,000 shares for services to be rendered 490,050
April 11, 2001, issued 22,625,000 shares for services to be rendered 203,625
June 1, 2001, issued 3,500,000 shares for services to be rendered 175,000
Director paid expenses for company and donated all costs to company 64,010
Total non cash activities $10,505,654
All shares were issued at market value at the time an agreement was
reached.
10
BUCKTV.COM, Inc.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS
9. The Company accrued expenses for non cash activities ratably over
12 months. The Company has contractual agreements for the parties that
received shares to perform services for the next 12 months. This amounted
to $3,346,620 in the year ended December 31, 2000 and $5,335,581 for the nine
months ending September 30, 2001.
NOTE 3 - GOING CONCERN
The Company's financial statements are prepared using the generally accepted
accounting principles applicable to a going concern, which contemplates
the realization of assets and liquidation of liabilities in the normal
course of business. However, the Company has not generated significant
revenues from its planned principal operations. Without realization of
additional capital, it would be unlikely for the Company to continue as a
going concern. It is management's plan to raise additional capital through
debt or a private placement.
NOTE 4 - RELATED PARTY TRANSACTION
Office services are provided without charge by a director. Such costs are
immaterial to the financial statements and, accordingly, have not been
reflected therein. The officers and directors of the Company are
involved in other business activities and may, in the future, become involved
in other business opportunities. If a specific business opportunity becomes
available, such persons may face a conflict in selecting between the Company
and their other business interests. The Company has not formulated a policy
for the resolution of such conflicts.
NOTE 5 - WARRANTS AND OPTIONS
There no warrants or options outstanding to acquire any additional shares of
common or preferred stock.
NOTE 6 - YEAR 2000 ISSUE
The Y2K issue had no effect on this company.
11
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF PLAN OF OPERATIONS
The Registrant was incorporated on September 21, 1998, in the state of
Nevada under the name BuckTV.com, Inc. BuckTV.com, Inc. was incorporated to
transact any lawful business. The Company originally hoped to develop a
genetically engineered type of Pima cotton seed with a gene that contains a
virus fatal to the pink bollworm, a leaf-munching pest that can destroy cotton
fields. The Company's initial test results were not positive, and the Company
subsequently changed management and control of its stock to a different group.
Under its new name, BuckTV.com, Inc., the new management and ownership of
the Company has developed a new principal business strategy for the Company
to market consumer products through an Interactive WEB site, based on an
auction format, utilizing the talents and abilities of Mr. Buck Hunter,
a major shareholder in, and a Director of, the Company, who is also a
well-known radio and television personality.
This WEB site will be promoted through the Cable Radio Network, various
search engines, through other Web sites, marketing its site to
businesses/customers through e-mail, online media, and other marketing
and promotional efforts.
There can be no assurance that brand promotion activities will yield
increased revenues or that any such revenues would offset the expenses
incurred by the Company in building its brands. Further, there can be
no assurance that any new users attracted to BuckTV will conduct
transactions over BuckTV.com on a regular basis. If the Company fails to
promote and maintain its brand or incurs substantial expenses in an attempt
to promote and maintain its brand or if the Company's existing or future
strategic relationships fail to promote the Company's brand or increase
brand awareness, the Company's business, results of operations and financial
condition would be materially adversely affected.
Going Concern
The Company's financial statements are prepared using generally accepted
accounting principles applicable to a going concern which contemplates
the realization of assets and liquidation of liabilities in the normal
course of business. However, the Company has no current source of revenue.
Without realization of additional capital, it would be unlikely for the
Company to continue as a going concern.
Unclassified Balance Sheet - In accordance with the provisions of SFAS
No.53, the Company has elected to present an unclassified balance sheet.
12
Loss/Earnings Per Share - Earnings per share is computed using the
weighted average number of shares of common stock outstanding.
The Company has not pursued or explored any opportunities for an
acquisition or merger. This does not preclude that the Company may not
explore any opportunities in the future.
Results of Operations
As of September 30, 2001, being a developmental stage Company, the Company
has yet to generate any revenues. In addition, the Company does not expect
to generate any significant revenues over the next approximately six (6)
months. During the First Quarter, the Company experienced net loss $5,468,641
as compared to a net loss of $313,271 for the same period last year. The bulk
of these expenses were for setting up offices in both Colorado and Nevada,
along with general and administrative costs, accounting purposes,
establishing the Company's website, and filing fees. The Company does not
have any material commitments for capital expenditures.
Plan of Operation
The Company has not achieved revenues or profitability to date, and the
Company anticipates that it will continue to incur net losses for the
foreseeable future. The extent of these losses will depend, in part, on the
amount of growth in the Company's revenues from sales of its products, and
possibly from advertising revenues on its Web site. As of September 30, 2001,
the Company had an accumulated deficit of Nine million eight hundred and
ninety-five thousand seven hundred and forty-five ($9,895,745) dollars. The
Company expects that its operating expenses will increase significantly during
the next several months, especially in the areas of sales and marketing, and
brand promotion. Thus, the Company will need to generate increased revenues to
achieve profitability. To the extent that increases in its operating expenses
precede or are not subsequently followed by commensurate increases in revenues,
or that the Company is unable to adjust operating expense levels accordingly,
the Company's business, results of operations and financial condition would be
materially and adversely affected. There can be no assurances that the Company
can achieve or sustain profitability or that the Company's operating losses
will not increase in the future.
13
Liquidity and Capital Resources
The Company's primary sources of liquidity since its inception have been the
sale of shares of common stock from share holders, which were used during the
period from inception through September 30, 1999. An original stock offering
was made pursuant to Nevada Revised Statues Chapter 90.490 (hereinafter
referred to as the Offering). This Offering was made in reliance upon an
exemption from the registration provisions of Section 5 of the Securities Act
of 1993 (the Act), as amended, pursuant to Regulation D, Rule 504 of the Act.
On September 22, 1998, the Company's founding shareholder purchased 3,000,000
shares of the company's authorized but un issued treasury stock for cash and
assets. The Company sold Thirty-eight Thousand Three Hundred Sixty
Dollars($38,360) or Seven Hundred Sixty-seven Thousand Two Hundred (767,200)
shares of the Common Stock of the Company during the Offering to approximately
fifty-six (56) shareholders in the State of Nevada. The offering was closed
February 28, 1999. The Company sold Three million (3,000,000) shares of the
Common Stock on March 10, 2000 for cash of $30,000. The Company filed Form S8
on March 28, 2000 for One million six hundred seventy five thousand
( 1,675,000) shares of its Common Stock for services to the Company. The
Company issued One million (1,000,000) restricted shares of its Common Stock
on April 24, 2000 for advertising services. The Company issued Two hundred
thousand (200,000) restricted shares of its Common Stock on June 5, 2000,for
services. The Company issued Nine hundred forty-four two hundred
twenty(944,220) restricted shares of its Common Stock on June 15, 2000, for
services. The Company issued Five hundred thousand (500,000)restricted shares
of its Common Stock on July 21,2000, for services. The Company issued Two
million (2,000,000)restricted shares of its Common Stock on July 21, 2000, for
services. The Company filed Form S8 for Five hundred and seventy-five
(575,000) shares of its Common Stock on July 14, 2000, for services to be
rendered. The Company filed Form S8 for Five hundred and seventy-five
(575,000) thousand shares of its Common Stock on July 14, 2000, for services
to be rendered. The Company filed Form S8 for Six hundred and sixty (660,000)
thousand shares of its Common Stock on August 17, 2000, for services to be
rendered. The Company issued Seven hundred and sixty (760,000)thousand
restricted shares of its Common Stock on September 13, for services. The
Company issued Five million(5,000,000)restricted shares of its Common Stock on
November 9, 2000, for services. The Company issued Five million five hundred
and fifty thousand (5,550,000)restricted shares of its Common Stock on December
22, 2000, for services. The Company filed FormS8 for Ten million eight hundred
and ninety thousand (10,890,000)shares of its Common Stock on March 2, 2001,
for services to be rendered. The Company filed Form S8 for Twenty-two million
six hundred twenty-five thousand(22,625,000)restricted shares of its Common
Stock on April 11, 2001, for services to be rendered. The Company filed Form
S8 for Three million five hundred thousand(3,500,000)restricted shares of its
Common Stock on June 1, 2001, 2000, for services to be rendered.
The Company As of September 30, 2001, the Company has sixty-two million eight
hundred sixteen thousand and nine hundred and twenty (62,816,920) shares of
its $0.001 par value common voting stock issued and outstanding which are held
by approximately fifty- seven (57) shareholders of record, which includes the
founder shares
The Company currently has two (2) employees: one President, and one Secretary.
If the company can develop its interactive website, at that time the Company
will either consider adding more employees, or subcontracting for additional
employees.
14
The Company has no material commitments for capital expenditures nor does it
foresee the need for such expenditures over the next year.
Market For Company's Common Stock
Until November 2, 1999, there was no public trading market for the Company's
stock. On that day the Company's common stock was cleared for trading on the
OTC Bulletin Board system under the symbol OLRM. When the Company changed its
name to BuckTV.com, it was issued the new trading symbol BKTV by the NASD. (See
Item 4 below: Submission of Matters to a vote of Securities Holders.) A very
limited market exists for the trading of the Company's common stock.
Dividend Policy
The Company has not yet adopted any policy regarding payment of dividends.
Holders of common stock will ultimately be entitled to receive such dividends
as the board of directors may from time to time declare out of funds legally
available for the payment of dividends. No dividends have up to now been paid
on our common stock, and we do not anticipate paying any dividends on our
common stock in the foreseeable future.
Forward-Looking Statements
This Form 10-QSB includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements, other than
statements of historical facts, included or incorporated by reference in this
Form 10-QSB which address activities, events or developments which the Company
expects or anticipates will or may occur in the future, including such things
as future capital expenditures (including the amount and nature thereof),
finding suitable merger or acquisition candidates, expansion and growth of the
Company's business and operations, and other such matters are forward-looking
statements. These statements are based on certain assumptions and analyses made
by the Company in light of its experience and its perception of historical
trends, current conditions and expected future developments as well as other
factors it believes are appropriate in the circumstances. However, whether
actual results or developments will conform with the Company's expectations and
predictions is subject to a number of risks and uncertainties, general economic
market and business conditions; the business opportunities (or lack thereof)
that may be presented to and pursued by the Company; changes in laws or
regulation; and other factors, most of which are beyond the control of the
Company.
This Form10-QSB contains statements that constitute forward-looking statements.
These forward-looking statements can be identified by the use of predictive,
future-tense or forward-looking terminology, such as believes, anticipates,
expects, estimates, plans, may, will, or similar terms. These statements appear
in a number of places in this Registration and include statements regarding the
intent, belief or current expectations of the Company, its directors or its
officers with respect to, among other things: (i) trends affecting the
Company's financial condition or results of operations for its limited history;
(ii) the Company's business and growth strategies; (iii)the Internet and
15
Internet commerce; and, (iv) the Company's financing plans. Investors are
cautioned that any such forward-looking statements are not guarantees of future
performance and involve significant risks and uncertainties, and that actual
results may differ materially from those projected in the forward-looking
statements as a result of various factors. Factors that could adversely affect
actual results and performance include, among others, the Company's limited
operating history, dependence on continued growth in the use of the Internet,
the Company's inexperience with the Internet, potential fluctuations in
quarterly operating results and expenses, security risks of transmitting
information over the Internet, government regulation, technological change and
competition.
Consequently, all of the forward-looking statements made in this Form 10-QSB
are qualified by these cautionary statements and there can be no assurance that
the actual results or developments anticipated by the Company will be realized
or, even if substantially realized, that they will have the expected
consequence to or effects on the Company or its business or operations. The
Company assumes no obligations to update any such forward-looking statements.
PART II OTHER INFORMATION
ITEM 1. Legal Proceedings
The Company is not a party to any legal proceedings, and none are known to be
contemplated.
ITEM 2. Changes in Securities and Use of Proceeds
None.
ITEM 3. Defaults upon Senior Securities
None.
ITEM 4. Submission of Matters to a Vote of Security Holders
On March 29, 2000, the Company held a Stockholder's Meeting at its Corporate
offices at 5085 Lift Drive, Suite 201, Colorado Springs, CO 80919, for the
following purposes:
1. To vote on a proposal to amend Oleramma's Articles of Incorporation to
change the name of Oleramma, Inc. from Oleramma, Inc. to BuckTV.com, Inc.
2. To vote on a proposal to amend Oleramma's Articles of Incorporation to
increase the number of authorized common shares from twenty million to one
hundred million shares.
The Shareholder's approved the change of corporate name from Oleramma, Inc.,
To BuckTV.com, Inc., and the authorization of 100,000,000 common shares.
ITEM 5. Other Information
None.
16
ITEM 6. Exhibits and Reports on Form 8-K
BuckTV, Inc. did file Form 8-K during the Second Quarter, ended June 30, 2001.
The Company did file a Current Report dated June1, 2001 on Form 8-K containing
information pursuant to Item 1 (Changes in Control or address) entitled Change
of address.
SIGNATURES
In accordance with Section 13 or 15(d) of the Exchange Act,
the registrant caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date: November 16, 2001 BuckTV.com, Inc.
By: /s/ Larry Hunter
-----------------------
Larry Hunter
President, Chief Executive
Officer
In accordance with Section 13 or 15(d) of the Exchange Act,
the registrant caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date: November 16, 2001 BuckTV.com, Inc.
By: /s/ Bry Behrmann
-----------------------
Bry Behrmann
Secretary
17