UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-QSB
(Mark One)
[X] Quarterly Report Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
For the quarterly period ended: January 31, 2000
OR
[ ] 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: 0000796655
ANTS SOFTWARE.COM
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(exact name of registrant as specified in its charter)
Nevada 13-3054685
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(State or other jurisdiction of (IRS Employer Identification Number)
Incorporation or Organization)
500 Airport Boulevard, Suite 100, Burlingame, CA 94010
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(Address of principal executive offices) (Zip Code)
(650) 579-6625
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(Registrant's Telephone Number, including area code)
37 SANTA TERESITA WAY, SANTA BARBARA, CA 93105
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(Former name, former address and former
fiscal year, if changed since last report)
Indicate by check mark whether the registrant (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 reports), and (2) has been subject to such filing
requirements for the past 90 days.
Yes [X] No [ ]
Indicate the number of shares outstanding of each of the issuer's classes of
Common stock, as of the latest practicable date:
12,540,678 shares of common stock as of 1/31/00
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ANTS SOFTWARE.COM
(A NEVADA CORPORATION)
FINANCIAL INFORMATION
The financial statements set forth herein have been prepared by ANTs
software.com (the "Company") without audit. Certain information and footnote
disclosures normally included in financial statements prepared in accordance
with generally accepted accounting principles may have been condensed or
omitted. The Company believes that the information contained herein is accurate.
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<PAGE> 3
ANTs Software.Com
(FKA CHOPP COMPUTER CORPORATION)
BALANCE SHEET
January 31, 2000
<TABLE>
<S> <C>
ASSETS
Current Assets
Cash & Cash Equivalents $ 4,650,152
------------
Total current assets 4,650,152
Property and Equipment
Computers & Software 66,199
Office furniture and fixtures 2,711
Less accumulated depreciation (3,269)
------------
Total property and equipment 65,641
Other Assets
Security deposits 206,748
Patents 52,553
Less valuation allowance (52,553)
------------
Total other assets 206,748
Total Assets $ 4,922,541
============
Liabilities And Stockholder's Equity
Current Liabilities
Accounts Payable $ 720,031
Accounts Payable to officers,
Directors and stockholders 205,332
Accrued Expenses 78,333
------------
Total current liabilities 1,003,696
Stockholders' equity
Common stock, $.001 par value; 20,000,000
authorized; 12,540,678 shares issued and
outstanding; 1,650,000 shares reserved for
future issuance 12,541
Additional paid-in capital 12,813,834
Loans to Directors & Officers (337,500)
Accumulated Deficit (8,570,030)
------------
Total stockholders' equity (deficit) 3,918,845
Total Liabilities and Stockholders' Equity $ 4,922,541
============
</TABLE>
See accompanying notes to financial statements.
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<PAGE> 4
ANTs Software.Com
(FKA CHOPP COMPUTER CORPORATION)
STATEMENT OF OPERATION
January 31, 2000
<TABLE>
<CAPTION>
Prior Year Ending Three months ended Nine months ended
April 30, 1999 January 31, 2000 January 31, 2000
----------------- ------------------ -----------------
<S> <C> <C> <C>
Revenues $ 0 $ 0 $ 0
Expenses:
General and Administrative 610,691 207,176 449,286
Professional services 0 408,398 408,398
Tax Expenses 0 800 800
Rent 0 59,591 59,591
Depreciation Expense 0 558 558
Valuation Allowance 0 0 0
Loss from operations (610,691) (676,524) (918,634)
Interest Income 0 13,189 13,189
----------- ------------ ------------
Loss before income taxes (610,691) (663,335) (905,445)
Income taxes 0 0 0
----------- ------------ ------------
Net Loss (610,691) (663,335) (905,445)
=========== ============ ============
Basic loss per common share $ (0.06) $ (0.05) $ (0.08)
----------- ------------ ------------
Weighted average common shares
outstanding 9,985,451 12,160,006 11,266,698
Dilutive loss per common share N/A $ (0.05) $ (0.07)
----------- ------------ ------------
Diluted average shares outstanding N/A 14,183,960 13,290,652
</TABLE>
Note: Comparative figures not available for previous year.
See accompanying notes to financial statements.
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ANTs Software. Com
(FKA CHOPP COMPUTER CORPORATION)
STATEMENT OF CASH FLOW
January 31, 2000
<TABLE>
<CAPTION>
Year Ended Three months ended Nine months ended
April 30, 1999 January 31, 2000 January 31, 2000
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