10SB12G/A 1 form10sb12ga.txt FORM 10SB12G/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 AMENDMENT NO. 3 TO FORM 10-SB GENERAL FORM FOR REGISTRATION OF SECURITIES OF SMALL BUSINESS ISSUERS UNDER SECTION 12(B) OR (G) OF THE SECURITIES EXCHANGE ACT OF 1934 PREVENTION INSURANCE.COM ------------------------ (Name of Small Business Issuer in its charter) NEVADA 88-012644 ------------------ --------- (State or other jurisdiction of (I.R.S. Employer Identification No.) incorporation or organization) 2770 MARYLAND PARKWAY SUITE 403A LAS VEGAS, NEVADA 89104 ----------------------- ----- (Address of principal executive offices) (Zip Code) Issuer's telephone number: (702) 732-2758 Securities to be registered under Section 12 (b) of the Act: Title of each class Name of each exchange on which to be so registered each class is to be registered ------------------------ ------------------------ ------------------------ ------------------------ Securities to be registered under Section 12(g) of the Act: COMMON STOCK, PAR VALUE $.01 PER SHARE ----------------------------------------- (Title of class) PART F/S INDEX TO FINANCIAL STATEMENTS PAGE Independent Auditor's Report ......................................F-2 Balance Sheet (audited) as of April 30, 2000 ......................F-3 Statement of Income and Changes in Retained Earnings (audited) For the Years Ended April 30, 2000 and 1999 ..............F-4 Statement of Cash Flows (audited) Year Ended April 30, 2000 and 1999 .......................F-5 Statement of Changes in Stockholders' Equity ......................F-6 Notes to Financial Statements .....................................F-7 Balance Sheet (unaudited) as of December 31, 2000 .................F-8 Profit and Loss (unaudited) May through December 2000 ............F-9 F-1 LUDLOW & HARRISON A CPA Corporation 3545 Camino Del Rio South Suite D (619) 283-3333 San Diego, CA 92108 Fax: (619) 283-7997 -------------------------------------------------------------------------------- INDEPENDENT AUDITOR'S REPORT We have audited the accompanying balance sheets of Prevention Insurance.com as of April 30, 1999 and 2000, and the related statements of income, retained earnings and cash flows for the years then ended. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance that the financial statements are free of material misstatements. An audit includes examining on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the management, as well as assessing the overall financial statements presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Prevention Insurance.com as of April 30, 1999 and 2000, and the results of its operations for the years then ended in conformity with generally accepted accounting principles. S/ Ludlow & Harrison Ludlow & Harrison A CPA Corporation December 28, 2000 F-2 PREVENTION INSURANCE .COM BALANCE SHEET AS OF APRIL 30 ASSETS: 2000 1999 ---- ---- CURRENT ASSETS: CASH $ 16,766 $ 84,815 ACCOUNTS RECEIVABLE 29,482 ----------------------------- TOTAL CURRENT ASSETS 16, 766 114,297 ----------------------------- TOTAL ASSETS $ 16,766 $ 114,297 ============================= LIABILITIES & STOCKHOLDERS' EQUITY CURRENT LIABILITIES: ACCOUNTS PAYABLE $ 10,458 $ 110,257 ----------------------------- TOTAL CURRENT LIABILITIES 10,458 110,257 ----------------------------- STOCKHOLDERS' EQUITY COMMON STOCK 56,411 36,411 TREASURY STOCK (52,954) (52,954) ADDITIONAL PAID-IN CAPITAL 3,350,016 3,350,016 RETAINED EARNINGS (3,347,165) (3,329,433) ----------------------------- TOTAL STOCKHOLDERS' EQUITY 6,305 4,040 ----------------------------- TOTAL LIABILITIES & STOCKHOLDERS' EQUITY: $ 16,766 $ 114,297 ============================= The accompanying notes are an integral part of these financial statements. F-3 PREVENTION INSURANCE.COM STATEMENT OF INCOME AND CHANGES IN RETAINED EARNINGS FOR THE YEARS ENDED APRIL 30 2000 1999 ---- ---- SALES $49 $271,931 COST OF SALES 55,110 -------------------------------------- GROSS PROFIT 49 216,821 OPERATING EXPENSES 17,781 341,038 LOSS ON DISPOSAL OF FIXED ASSETS 20,174 -------------------------------------- NET LOSS (17,732) (144,391) BEGINNING RETAINED EARNINGS (DEFICIT) (3,329,433) (3,185,042) -------------------------------------- ENDING RETAINED EARNINGS (DEFICIT) ($3,347,165) ($3,329,433) ====================================== The accompanying notes are an integral part of these financial statements. F-4 PREVENTION INSURANCE.COM STATEMENT OF CASH FLOWS YEAR ENDED 2000 1999 ---- ---- Cash flows from Operating Activities Net loss ($17,732) ($144,391) Adjustments to reconcile net loss to cash Used by operating activities: Decrease in A/R 29,482 43,462 Decrease in inventory 46,733 Decrease in other assets 170,704 Increase in accounts payable (99,799) 88,778 ------------------------- Cash used by operating activities (88,049) 205,286 ------------------------- Cash flows from investing activities ------------------------- Cash from investing activities 0 0 ------------------------- Cash flows from financing activities Settlement of notes payable (103,621) Cash from sale of common stock 20,000 ------------------------- Cash from financing activities 20,000 (103,621) ========================= Net change in cash (68,049) 101,665 Cash beginning of year 84,815 (16,850) ------------------------- Cash end of year $16,766 $84,815 ========================= The accompanying notes are an integral part of these financial statements. F-5 PREVENTION INSURANCE.COM STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY FOR THE YEARS ENDING APRIL 30,

ADDITIONAL RETAINED TOTAL COMMON STOCK TREASURY PAID-IN EARNINGS STOCKHOLDERS' # OF SHARES PAR VALUE STOCK CAPITAL (DEFICIT) EQUITY --------------------------------------------------------------------------- BALANCE, APRIL 30, 1999 3,641,100 $36,411 $(52,954) $3,350,016 $(3,329,433) $ 4,040 SHARES ISSUED 2,000,000 20,000 20,000 NET LOSS, YEAR ENDED 4/30/00 (17,732) (17,732) -------------------------------------------------------------------------- BALANCE, APRIL 30, 2000 5,641,100 56,411 (52,954) 3,360,016 (3,347,165) 6,308 SHARES ISSUED 310,000 9,100 9,100 NET LOSS, YEAR ENDED 4/30/01 (16,404) (16,404) -------------------------------------------------------------------------- BALANCE, APRIL 30, 2001 5,951,100 $59,511 $(52,954) $3,350,016 $(3,383,589) $(6,996) ==========================================================================

F-6 PREVENTION INSURANCE.COM NOTES TO FINANCIAL STSTEMENTS APRIL 30, 2000 AND 1999 Note 1. - Nature of Business and Summary of Significant Accounting Policies A. Nature of Business - The Company was incorporated In Nevada in 1975 under the name Vita Plus Industries, Inc. The Company conducted business under this name until March 10, 1999, at which time it sold off its remaining inventory of nutritional products together with its name. Subsequent to this, the Company changed its name to Prevention Insurance.Com and has entered into the area of consultation to the insurance industry. Note 2. - Related Party Transactions The Company converted its note due to stockholder in the amount of $66,690 to common stock following the bulk sale of the Company name and inventory. Note 3. - Capital Stock The common stock of the Company includes the following as of April 30, 2000 Number of Par Paid-in Shares Authorized and Issued Shares Issued Value Capital ---------------------------- ------------- ----- ------- Preferred Stock, Par Value $.01 2,000,000 shares authorized -- $ -- $ -- Class A Common Stock, Par Value $.01; 5,000,000 shares authorized 4,481,151 $44,811 $3,350,016 Class B Common Stock (No voting Rights); Par Value $.01; 5,000,000 shares authorized -- $ -- $ -- Total capital stock issued 4,481,151 $44,841 $3,350,016 F-7 PREVENTION INSURANCE.COM BALANCE SHEET AS OF DECEMBER 31, 2000 DEC.31, `00 ASSETS Current Assets Checking/Savings 1010 Community Bank-475 $ 2,013.76 ------------ Total Checking/Savings 2,013.76 ------------ Total Current Assets 2,013.76 Other Assets 1990 Due from Officer 5,427.46 ------------ Total Other Assets 5,427.46 ------------ TOTAL ASSETS $ 7,441.22 ============ LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable $ 10,458.00 ------------ Total Accounts Payable 10,458.00 ------------ Total Liabilities 10,458.00 ------------ Equity Additional Paid-in Capital 3,350,015.78 Common Stock 56,411.46 Retained Earnings (3,347,164.65) Net Income (9,325.27) Treasury Stock (52,954.10) ------------ Total Equity (3,016.78) ------------ TOTAL LIABILITIES & EQUITY $ 7,441.22 ============ F-8 PREVENTION INSURANCE.COM PROFIT AND LOSS MAY THROUGH DECEMBER 2000 Ordinary Income/Expense Expense Licensing and Taxes $1,693.58 Legal Fees 541.75 Accounting and Bkping Service 1,448.00 Advertising -Co-Op 2,500.00 Misc. Expense 455.00 Rent 36.00 Printing and Copying 695.50 Professional Charges 1,908.38 Bank Charges 47.06 Uncategorized Expenses 0.00 ---------- Total Expenses 9,325.27 ---------- Net Ordinary Income (9,325.27) ---------- Net Income ($9,325.27) ========== F-9 PREVENTION INSURANCE.COM NOTES TO INTERIM FINANCIAL STSTEMENTS DECEMBER 31, 2000 Note 1. - Nature of Business and Summary of Significant Accounting Policies A. Nature of Business - The Company was incorporated In Nevada in 1975 under the name Vita Plus Industries, Inc. The Company conducted business under this name until March 10, 1999, at which time it sold off its remaining inventory of nutritional products together with its name. Subsequent to this, the Company changed its name to Prevention Insurance.Com and has entered into the area of consultation to the insurance industry. Note 2. - Related Party Transactions The Company converted its note due to stockholder in the amount of $66,690 to common stock following the bulk sale of the Company name and inventory. Note 3. - Capital Stock The common stock of the Company includes the following as of December 31, 2000 Number of Par Paid-in Shares Authorized and Issued Shares Issued Value Capital ---------------------------- ------------- ----- ------- Preferred Stock, Par Value $.01 2,000,000 shares authorized -- $ -- $ -- Class A Common Stock, Par Value $.01; 20,000,000 shares authorized 4,481,151 $44,811 $3,350,016 Total capital stock issued 4,481,151 $44,841 $3,350,016 F-9 SIGNATURES In accordance with Section 12 of the Securities Exchange Act of 1934, the registrant caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized. PREVENTION INSURANCE.COM Date: 2/13/2001 By: S/ Scott C. Goldsmith ----------------------------- Scott C. Goldsmith President