TLWatson, Confusion abounds, it appears RMIL plans (or did) submit financials based on the merger being complete when in fact it is not.
sec.gov
As a result of this combination, the June 30, 1997 financial statements for
Olympus were restated to reflect the combination and the shares issues, as if
the combination had taken place on that date
ROCKY MOUNTAIN INTERNATIONAL, LTD.
(Formerly known as Olympus Ventures, Inc.)
COMBINED BALANCE SHEET
AS AT JUNE 30, 1997
(UNAUDITED)
-----------
ASSETS
------
Current assets:
Cash and cash equivalents $ 28,351
Accounts receivable 141,860
Inventory 110,802
------------
Total current assets 281,013
Investments 14,000,000
Fixed assets, net of depreciation 1,641,603
Other assets 87,815
------------
TOTAL ASSETS $ 16,010,431
------------
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------
Current liabilities:
Notes payable $ 145,531
Accounts payable 457,661
------------
Total current liabilities 603,192
Long term debt 844,439
Other liabilities: Shareholders' loans 135,000
------------
TOTAL LIABILITIES 1,582,631
------------
Shareholders' equity:
Common stock 915
Paid in capital 32,337,418
Accumulated deficit (17,910,533)
------------
Total shareholders' equity 14,427,800
------------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 16,010,431
------------
5
<PAGE>
ROCKY MOUNTAIN INTERNATIONAL, LTD.
(Formerly known as Olympus Ventures, Inc.)
COMBINED STATEMENT OF INCOME
FOR THE YEAR ENDED JUNE 30, 1997
(UNAUDITED)
-----------
Revenues $ 1,859,014
Cost of sales 503,293
-----------
Gross profit 1,355,721
Operating expenses 1,451,753
-----------
Net operating (Loss) (96,032)
Other income 120,987
-----------
Net (Loss) for the period $ 24,955
-----------
6
<PAGE>
ROCKY MOUNTAIN INTERNATIONAL, LTD.
(Formerly known as Olympus Ventures, Inc.)
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1997
(UNAUDITED)
-----------
1. Organization and Acquisitions:
During the quarter ended June 30, 1997 there were no new acquisitions. The
Company consisted of Olympus Ventures, Inc., the Parent company, and three
subsidiaries: Olympus Mills USA, Inc., Baron's International, S.A., and H & D
Fashions, S.A. See Note 3 for subsequent acquisition of Rocky Mountain Crystal
Water, Inc.
2. Principals of consolidation:
All material intercompany balances and transactions have been eliminated.
3. Subsequent events:
On September 24, 1997 a contract was entered into to acquire Rocky Mountain
Crystal Water, Inc. The acquisition was made by an exchange of Olympus common
stock for 100% of the common stock of Rocky Mountain Crystal Water, Inc. Olympus
issued 6,684,759 common shares for 100% of the shares of Rocky Mountain Crystal
Water, Inc. An additional 6,000,000 shares are to be issued in one year from
date of the contract. The name of Olympus Ventures, Inc. has been changed to
Rocky Mountain International, Ltd.
As a result of this combination, the June 30, 1997 financial statements for
Olympus were restated to reflect the combination and the shares issues, as if
the combination had taken place on that date .http://www.sec.gov/Archives/edgar/data/878071/0001000096-97-000728.txt |
