10QSB 1 form10qsb.txt FORM 10QSB -------------------------------------------------------------------------------- SEC POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION 2334 (6 CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM 00) DISPLAYS A CURRENTLY VALID OMB CONTROL NUMBER. -------------------------------------------------------------------------------- UNITED STATES OMB SECURITIES AND EXCHANGE COMMISSION APPROVAL WASHINGTON D.C. 20549 OMB NUMBER: 3235-0416 EXPIRES: APRIL 30, 2005 FORM 10-QSB ESTIMATED AVERAGE BURDEN HOURS PER RESPONSE: 32.00 (Mark One) [ ] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2003 ------------- [ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT For the transition period from 5/1/03 to 7/31/03 ------ ------- Commission file number _______________________ PREVENTION INSURANCE.COM -------------------------------------------------------------------------------- (EXACT NAME OF SMALL BUSINESS ISSUER AS SPECIFIED IN ITS CHARTER) NEVADA 88-0126444 ------------------------------- --------------------------------- (STATE OR OTHER JURISDICTION OF (IRS EMPLOYER IDENTIFICATION NO.) INCORPORATION OR ORGANIZATION) 2770 So. Maryland Pkwy. #416, Las Vegas, NV 89109 -------------------------------------------------------------------------------- (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (702) 732-2758 -------------------------------------------------------------------------------- (ISSUER'S TELEPHONE NUMBER) -------------------------------------------------------------------------------- (FORMER NAME, FORMER ADDRESS AND FORMER FISCAL YEAR, IF CHANGED SINCE LAST REPORT) APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS Check whether the registrant filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan conformed by a court. Yes [ ] No [ ] MANAGEMENT DISCUSSIONS PERIOD MAY 1, 2003-JULY 31, 2003 We have made good progress in completing our marketing plan. We will utilize this plan to acquire agencies. We plan to finalize our first significant acquisition in the next two quarters or by the first of the year. Our focus is on marketing companies that sell life insurance and annuities and top independent agencies. MANAGEMENT DISCUSSION OF OPERATIONS: Prevention Insurance's cash needs will be covered by our ATM Division and service fees from the agencies and marketing companies. We intend to raise working capital of $5 million dollars for acquisitions and to have sufficient working capital on hand to cover any expansion plans. Our plan is to have one year's total operating expenses on hand and for any acquisitions that may require cash as well as stock. DISCUSSION OF FINANCIAL CONDITION & RESULTS OF OPERATIONS: Our condition is at present under-capitalized. We have basically been able to pay off all of our payables as agreed. Revenue to date has been provided by our ATM equipment sales division, Quick Pay Co., that is selling ATM machines to retail outlets around the U.S. We have also received a small amount of seed capital ($7000.00) from existing shareholders through stock sales. We will also be seeking our venture capital or strategic partners as possible sources of financing. In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Prevention Insurance.com Date: September 3, 2003 /s/ Scott Goldsmith ---------------------- Name: Scott Goldsmith Title: President PREVENTION INSURANCE.COM BALANCE SHEETS

UNAUDITED JUL 31, 2003 April 30, 2003 ------------ -------------- ASSETS CURRENT ASSETS: CASH $ -- $ -- TOTAL CURRENT ASSETS -- -- ----------- ----------- $ -- $ -- =========== =========== LIABILITIES & (DEFICIT) CURRENT LIABILITIES ACCOUNTS PAYABLE $ 8,104 $ 7,187 ADVANCES FROM OFFICER/SHAREHOLDER 26,897 23,509 ----------- ----------- 35,001 30,696 EQUITY COMMON STOCK 101,658 92,408 ADDITIONAL PAID IN CAPITAL 3,451,769 3,453,019 RETAINED EARNINGS (3,535,474) (3,523,169) ----------- ----------- 17,953 22,258 TREASURY STOCK (52,954) (52,954) ----------- ----------- (35,001) (30,696) ----------- ----------- $ -- $ -- =========== ===========

PREVENTION INSURANCE.COM STATEMENTS OF OPERATIONS THREE MONTHS ENDED JULY 31, UNAUDITED 2003 2002 -------- -------- INCOME COMMISSION INCOME $ 32,222 $ 18,716 -------- -------- TOTAL INCOME 32,222 18,716 COSTS AND EXPENSES GENERAL AND ADMINISTRATIVE 44,527 31,641 -------- -------- (LOSS) FROM OPERATIONS (12,305) (12,925) OTHER INCOME/EXPENSE -- -- -------- -------- NET (LOSS) $(12,305) $(12,925) ======== ======== PREVENTION INSURANCE.COM STATEMENT OF CASH FLOWS THREE MONTHS ENDED JULY 31,

UNAUDITED 2003 2002 --------- --------- Cash Flow from Operating Activity Net (loss) from operations $(12,305) $(12,925) Adjustment to reconcile net (loss) to Cash Increase (decrease) in accounts payable 917 (14,579) Increase (decrease) in advances from officer/shareholder 3388 -------- -------- Cash Flow used in operating activities (8,000) (27,504) Cash provided by sales of stock 8,000 27,500 -------- -------- Cash flow provided by financing activities 8,000 27,500 Net increase (decrease) in cash -- (4) Cash at beginning of period -- 544 -------- -------- Cash at end of period $ -- $ 540 ======== ========