U. S. 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 March 31, 2005.
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the transition period from to
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Commission File No.
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002-97007-D
ENERGROUP TECHNOLOGIES CORPORATION
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(Name of Small Business Issuer in its Charter)
UTAH 82-0420774
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(State or Other Jurisdiction of (I.R.S. Employer I.D. No.)
incorporation or organization)
4685 South Highland Dr., Suite 202
Salt Lake City, UT 84117
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(Address of Principal Executive Offices)
Issuer's Telephone Number: (801)278-9424
None; Not Applicable.
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(Former Name or Former Address, if changed since last Report)
Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Sections 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.
(1) Yes X No (2) Yes X No
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APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE
PRECEDING FIVE YEARS
None, Not Applicable;
APPLICABLE ONLY TO CORPORATE ISSUERS Indicate the number of shares
outstanding of each of the Registrant's classes of common stock, as of the
latest practicable date:
May 10, 2005
3,641,959
PART I - FINANCIAL INFORMATION
Item 1.Financial Statements.
The Financial Statements of the Registrant required to be filed with this 10-QSB
Quarterly Report were prepared by management and commence on the following page.
In the opinion of management, the Financial Statements fairly present the
financial condition of the Registrant.
ENERGROUP TECHNOLOGIES CORPORATION
BALANCE SHEETS
March 31, 2005
3/31/2005
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[Unaudited]
ASSETS
Assets $ 0
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Total Assets $ 0
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LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities:
Loans from stockholders $ 14,611
Accounts Payable 100
Accrued Interest 0
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Total Current Liabilities 14,711
Total Liabilities 14,711
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Stockholders' Deficit:
Common Stock, $.001 par value;
authorized 50,000,000 shares; issued and
outstanding, 3,641,959 shares 3,642
Paid-in Capital 318,571
Accumulated Deficit (318,732)
Accumulated Deficit during development stage (18,192)
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Total Stockholders' Deficit (14,711)
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Total Liabilities and Stockholders' Deficit $ 0
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STATEMENTS OF OPERATIONS
For the Three Month Periods Ended March 31, 2005, 2004 and
for the Period from Reactivation [December 14, 1998] through March 31, 2005
From the Beginning of
Three Months Three Months Development Stage on
Ended Ended Dec 4, 1998 through
3/31/2005 3/31/2004 3/31/2005
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REVENUE
Income $ 0 $ 0 $ 0
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NET REVENUE 0 0 0
Operating Expenses
General and Administrative 1,541 214 16,563
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Total Operating Expenses 1,541 214 16,563
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Net Income Before Taxes $ (1,541) $ (214) $ (16,563)
Income/Franchise taxes 0 0 1,629
Net loss (1,541) (214) (18,192)
Loss Per Share $ (0.01) $ (0.01) $ (0.01)
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Weighted Average Shares Outstanding 3,641,959 3,641,959 3,192,762
=============== =============== ====================
ENERGROUP TECHNOLOGIES CORPORATION
STATEMENTS OF CASH FLOWS
For the Three Month Periods Ended March 31, 2005, 2004 and
for the Period from Reactivation [December 14, 1998] through March 31, 2005
From the Beginning of
Three Months Three Months Development Stage on
Ended Ended Dec 4, 1998 through
3/31/2005 3/31/2004 3/31/2005
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[Unaudited] [Unaudited] [Unaudited]
Cash Flows Used For Operating Activities
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Net Loss $ (1,541) $ (214) $ (18,192)
Adjustments to reconcile net loss to net cash
used in operating activities:
Shares issued for services 0 0 3,381
Increase/(Decrease) in accounts payable 0 0 100
Increase/(Decrease) in Shareholder Loans 1,541 214 14,711
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Net Cash Used For Operating Activities 0 0 0
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Cash Flows Provided by Financing Activities
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Net Cash Provided by Financing Activities 0 0
Net Increase In Cash 0 0
Beginning Cash Balance 0 0
Ending Cash Balance $ 0 $ 0
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Notes to Condensed Financial Statements
March 31, 2005
PRELIMINARY NOTE
The accompanying condensed financial statements have been prepared without
audit, pursuant to the rules and regulations of the Securities and Exchange
Commission. Certain information and disclosures normally included in
financial statements prepared in accordance with generally accepted
accounting principles have been condensed or omitted. These interim
financial statements include all adjustments, which in the opinion of
management, are necessary in order to make the financial statements not
misleading. It is suggested that these condensed financial statements be
read in conjunction with the financial statements and notes thereto
included in the Company's Annual Report on Form 10-KSB for the year ended
December 31, 2004.
Item 2.Management's Discussion and Analysis or Plan of Operation.
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Plan of Operation.
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The Company has not engaged in any material operations in the period ending
March 31, 2005, or since before approximately 1989. The Company intends to
continue to seek out the acquisition of assets, property or business that may be
beneficial to the Company and its stockholders.
The Company's only foreseeable cash requirements during the next 12 months
will relate to maintaining the Company in good standing in the State of Utah,
keeping its reports "current" with the Securities and Exchange Commission or the
payment of expenses associated with reviewing or investigating any potential
business venture. Management does not anticipate that the Company will have to
raise additional funds during the next 12 months, however, if additional moneys
are needed, they may be advanced by management or principal stockholders as
loans to the Company. Because the Company has not identified any such venture as
of the date of this Report, it is impossible to predict the amont of any such
loan. However, any such loan will not exceed $25,000 and will be on terms no
less favorable to the Company than would be available from a commercial lender
in an arm's length transaction. As of the date of this Report, the Company has
not begun seeking any acquisition.
Results of Operations.
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The Company has had no operations during the quarterly period ended March
31, 2005, or since on or before approximately 1989. During the quarterly period
covered by this Report, the Company received no revenue and incurred expenses of
$1,541, stemming from general and administrative expenses.
Liquidity.
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At March 31, 2005, the Company had total current assets of $0 and total
liabilities of $14,711.
Item 3. Controls and Procedures.
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An evaluation was performed under the supervision and with the
participation of the Company's management, including the President and
Treasurer, regarding the effectiveness of the design and operation of the
Company's disclosure controls and procedures within 90 days before the filing
date of this quarterly report. Based on that evaluation, the Company's
management, including the President and Treasurer, concluded that the Company's
disclosure controls and procedures were effective. There have been no
significant changes in the Company's internal controls or in other factors that
could significantly affect internal controls subsequent to their evaluation.
PART II - OTHER INFORMATION
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Item 1.Legal Proceedings.
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None; not applicable.
Item 2.Changes in Securities.
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None; Not applicable
Item 3.Defaults Upon Senior Securities.
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None; Not applicable.
Item 4.Submission of Matters to a Vote of Security Holders.
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None; not applicable
Item 5.Other Information.
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See Part II, Item 6 below for Reports on Form 8-K.
Item 6.Exhibits and Reports on Form 8-K.
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(a) Exhibits
31.1 302 Certification of Steve Fry
31.2 302 Certification of Thomas Howells
32 906 Certification
(b)Reports on Form 8-K.
On March 22, 2005 the Company filed a Current Report on Form 8-K under Item
8.01 Other Events disclosing receipt of notification that the NASD has approved
the Form 211 application for addition to the OTC Bulletin Board under the ticker
symbol "ENRG", effective March 17, 2005.
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.
ENERGROUP TECHNOLOGIES CORPORATION
Date:5/12/05 By/S/Stephen Fry
Stephen R. Fry, President and Director
Date:5/12/05 By/S/Thomas J. Howells
Thomas J. Howells, Secretary and Director