SEC Info - Apollo Resources International Inc - 10SB12G

SEC Info

Home

My Interests

Help

Please Sign In

Apollo Resources International Inc · 10SB12G · On 4/26/99

Filed On 4/26/99 · SEC File 0-25873 · Accession Number 1012895-99-36

  As Of               Filer                 Filing     On/For/As Docs:Pgs              Issuer               Agent

 4/26/99  Powerball International Inc       10SB12G                8:85                                     1012895

Registration of Securities of a Small-Business Issuer · Form 10-SB
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10SB12G     Form 10-Sb                                            31    140K 
 2: EX-3        Articles of Incorporation                              2      9K 
 3: EX-3        Bylaws                                                17     76K 
 4: EX-4        Specimen Stock Certificate                             1      5K 
 5: EX-4        Operating Agreement                                   22    109K 
 6: EX-10       Exclusive License Agreement                           10     55K 
 7: EX-10       Assignment of Exclusive License Agreement              1      8K 
 8: EX-27       Financial Data Schedule                                1      8K

10SB12G · Form 10-Sb
Document Table of Contents

Page	(sequential)	\|	(alphabetic)	Top
			Alternative Formats (RTF, XML, et al.) Certain Relationships and Related Transactions Changes in and Disagreements with Accountants Description of Business Description of Property Description of Securities Directors, Executive Officers, Promoters and Control Persons Executive Compensation Indemnification of Directors and Officers Index to Exhibits Legal Proceedings Management's Discussion and Analysis or Plan of Operation Market Price of and Dividends on the Registrant's Common Equity and Other Shareholder Matters Recent Sales of Unregistered Securities Security Ownership of Certain Beneficial Owners and Management Signatures
1	1st Page
3	Item 1. Description of Business
9	Item 2. Management's Discussion and Analysis or Plan of Operation
11	Item 3. Description of Property
12	Item 4. Security Ownership of Certain Beneficial Owners and Management
13	Item 5. Directors, Executive Officers, Promoters and Control Persons
"	Item 6. Executive Compensation
15	Item 7. Certain Relationships and Related Transactions
"	Item 8. Description of Securities
16	Item 1. Market Price of and Dividends on the Registrant's Common Equity and Other Shareholder Matters
"	Item 2. Legal Proceedings
"	Item 3. Changes in and Disagreements with Accountants
17	Item 4. Recent Sales of Unregistered Securities
"	Item 5. Indemnification of Directors and Officers
31	Item 1. Index to Exhibits
"	Item 2. Signatures

10SB12G 1st Page of 31 TOC Top Previous Next Bottom Just 1st
 Sponsored Ads...







As filed with the Securities and Exchange Commission on April 26, 1999          
Registration No. _______________                                                

==============================================================================  

UNITED STATES SECURITIES AND EXCHANGE COMMISSION    
Washington, D.C.  20549   

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 

NATEX CORPORATION       
----------------------------------------------  
(Name of Small Business Issuer in its Charter)  

 Utah                                                 84-1431425
-------------------------------                            -------------------  
(State or other jurisdiction of                            (I.R.S. Employer     
incorporation or organization)                             Identification No.)  

48 West 300 South, Suite 2303 North, Salt Lake City, Utah      84101    
---------------------------------------------------------    ---------- 
      (Address of principal executive offices)              (Zip Code)

Issuer's telephone number:          (801) 595-1193                              
      --------------

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

N/A                                           N/A   
---                                           ---   
Securities to be registered under Section 12(g) of the Act:                     

Common Stock, par value $0.001 per share    
------------------------------------------  
(Title of Class)    

==============================================================================  

10SB12G 2nd Page of 31 TOC 1st Previous Next Bottom Just 2nd

NATEX CORPORATION   

FORM 10-SB  

TABLE OF CONTENTS   

PART 1                                                                    Page  

Item  1.     Description of Business .....................................  3   

Item  2.     Management's Discussion and Analysis or Plan of Operation ...  9   

Item  3.     Description of Property...................................... 11   

Item  4.     Security Ownership of Certain Beneficial Owners                    
           and Management.............................................. 12

Item  5.     Directors, Executive Officers, Promoters                           
           and Control Persons......................................... 13

Item  6.     Executive Compensation....................................... 13   

Item  7.     Certain Relationships and Related Transactions............... 15   

Item  8.     Description of Securities.................................... 15   

PART II                                                                         

Item  1.     Market Price of and Dividends on the Registrant's                  
           Common Equity and Other Shareholder Matters................. 16

Item  2.     Legal Proceedings............................................ 16   

Item  3.     Changes in and Disagreements with Accountants................ 16   

Item  4.     Recent Sales of Unregistered Securities...................... 17   

Item  5.     Indemnification of Directors and Officers.................... 17   

PART F/S                                                                        

          Financial Statements......................................... 19

PART III                                                                        

Item  1.     Signatures................................................... 31   

10SB12G 3rd Page of 31 TOC 1st Previous Next Bottom Just 3rd

PART I  

ITEM 1.  DESCRIPTION OF BUSINESS                                                

History and Organization                                                        
------------------------                                                        

Natex Corporation (hereinafter the "Company" or "Registrant") was     
incorporated on July 9, 1997 under the laws of the State of Utah for the        
purpose of raising capital to invest in a joint venture with Powerball          
Industries, Inc., a Utah corporation ("Powerball Industries").  Powerball       
Industries is wholly owned by Jed Checketts ("Checketts")and is the licensee    
of certain Hydrogen Generation System and Fuel Pellet technology relating to    
the production of hydrogen (the "Technology").  Checketts is the inventor of    
the Technology and licensed the Technology (the "License")to Powerball          
Industries in exchange for a royalty.  In December, 1997, the Company and       
Powerball Industries formed a joint venture named Powerball Technologies, LLC   
(the "JV").                                                                     

  The JV is managed by a two person management committee consisting of one
person designated as a manager by the Company (Robert Ipson) and one person     
designated as a manager by Powerball Industries (Checketts).                    

   Powerball Industries and the Company, as the owners of the Joint Venture,
have entered into an Operating Agreement which governs their respective rights  
and which sets forth their agreement as to various issues such as management,   
meetings, voting, tax matters, termination and transfer of interests.  The      
Operating Agreement provides that neither owner may assign or transfer his or   
its ownership in the Joint Venture unless the other owner consents to such      
transfer.                                                                       

Use of Hydrogen and the Technology in General                                   
---------------------------------------------                                   

Currently hydrogen is mainly utilized as a chemical component for     
industrial uses.  In addition, the market for hydrogen gas as a fuel source     
has increased as a result of many factors, including environmental concerns     
related to cost and environmental concerns surrounding the use of fossil        
fuels, increased research and development of alternative fuel sources in        
general, and the development of hydrogen fuel cells. The Technology, as it has  
currently been developed, and continues to be developed, is an attempt to       
provide an efficient, cost effective and safe method of producing hydrogen gas  
for commercial and industrial use.                                              

There are essentially three ways of providing a hydrogen supply: (i)  
storing compressed hydrogen gas in a storage device until needed; (ii) storing  
liquid hydrogen gas in a storage device until needed; and (iii) producing       
hydrogen on demand from water or hydrocarbon fuels as the hydrogen gas is       
needed.  Compressed gas and liquid hydrogen storage methods of creating a       
hydrogen supply can be expensive and can create health and safety problems.     
Hydrogen stored as hydrogen gas or in liquid gas storage systems must be        
stored under extreme pressure and can be dangerous.  The costs of transporting  
and storing compressed hydrogen gas and hydrogen liquids until needed, are      
significant.  Hydrogen delivery tanker trucks are expensive and have limited    
capacity for transporting hydrogen in comparison to their weight and cost. In   
order for a hydrogen customer to obtain a bulk shipment of either hydrogen gas  
or liquid hydrogen, it must expend a significant amount of money to construct   
a hydrogen storage facility on site.                                            

10SB12G 4th Page of 31 TOC 1st Previous Next Bottom Just 4th

 The JV's approach to supplying hydrogen to users will be to eliminate
the costs and risks of transporting and storing a bulk supply of hydrogen in    
either a compressed gas or liquid form by producing hydrogen on site as         
needed.  The JV expects to be able to demonstrate that the Technology can       
produce hydrogen gas on an as needed basis by the user (i.e., "Hydrogen On      
Demand") in a manner that management believes will be safer and more cost       
effective than existing methods.                                                

The Hydrogen Generation System                                                  
---------------------------                                                     

The Technology relates to the production of hydrogen gas in a Hydrogen
Generation System.  The Hydrogen Generation System is designed to produce       
hydrogen gas as needed to be used for whatever purpose it was intended.  The    
hydrogen is produced in the Hydrogen Generation System through a chemical       
reaction  of sodium hydride with water.  Key components of the Hydrogen         
Generation System include a tank called a Hydrogen on Demand Generator (the     
"Tank") and fuel pellets which are made of sodium hydride (the "Powerballs").   
Each Powerball  is a sodium hydride sphere which is approximately 1.2 inches    
in diameter, covered by a polyethylene cover.                                   

The Hydrogen Generation System generally works as follows:  ordinary  
water and Powerballs are deposited into the Tank.  After being deposited into   
the Tank, the Powerballs remain inert or inactive and do not produce hydrogen   
until needed.  Another key component of the Hydrogen Generation System is a     
cutting device which, when activated, cuts the Powerball in half, exposing it   
to the water contained in the Tank.  When hydrogen is needed by the user, the   
Powerball is inserted into the cutting device and cut or opened.   After being  
opened, the sodium hydride core of the Powerball is exposed directly to the     
water and reacts with the water to produce hydrogen gas. The Tank's metering    
system can detect when additional hydrogen is required, and when required,      
another Powerball moves in to the cutting device, and the process of creating   
hydrogen is repeated.                                                           

As hydrogen is used from the Tank, the mechanism removes Powerballs   
stored in the Tank and cuts them one at a time to produce additional hydrogen.  
The process can continue until the last Powerball in the Tank is used.  The     
polyethylene skins that cover the Powerballs remain in the Tank during the      
operation. When all the Powerballs have been utilized, the waste material must  
be properly removed along with the polyethylene skins.  After a Tank is         
emptied, it can immediately be refilled with water and new Powerballs.  The     
used polyethylene skins may be recycled into new Powerballs.                    

  The management of Powerball Industries believes that the Technology is a
safe and easy method of producing hydrogen which can be commercially viable.    
The Technology was developed to provide incremental, isolated production and    
use of hydrogen fuel thereby providing the user with a consistent and           
economically viable power supply.                                               

Supplies                                                                        
--------                                                                        

The sodium hydride that is used in the manufacturing of the Powerballs
has been readily available, and it is anticipated that it will continue to be   
readily available.  The cost of sodium hydride depends upon the quantity in     
which it is purchased.  The managers of the JV believe that the economics of    
producing hydrogen through the Technology will be dependent upon many factors   
including the purchase price of sodium hydride and the price of hydrogen as     
supplied by alternative suppliers.                                              

10SB12G 5th Page of 31 TOC 1st Previous Next Bottom Just 5th

Potential Products                                                              
------------------                                                              

   If the JV is able to demonstrate that the Technology will permit the cost
effective and safe production of hydrogen, the JV intends to manufacture, or    
have manufactured, and ultimately market, three products:                       

Splitting Mechanisms   These are the mechanisms installed in the Tanks
which are used to split the Powerballs, one at a time, as needed to generate    
hydrogen.                                                                       

  Tanks    The Tank is a stand alone hydrogen generator where the hydrogen
is actually produced.  The JV has already manufactured 5 Tanks with the funds   
invested in the JV by the Company.  The Tank is constructed of lightweight and  
strong Kevlar composite material.  Steel, stainless steel and other materials   
can also be used to construct the Tank.  The end caps are mounted securely      
using stainless steel tie rods.  High density polyethylene is used for the end  
cap material along with special strengthening ribs. The pneumatic/hydraulic     
combination cylinder used to power the Splitting Mechanism is precision         
machined from honed cylinder material and is rated for 5 million cycles.  The   
blade is made of a special stainless alloy designed to resist corrosion and     
remain sharp for millions of cycles. Pressure sensing mechanisms, valves,       
fittings, and static pressure refill ports are made of stainless steel or       
specially coated brass designed to resist NaOH corrosion. Each has been         
equipped with a pressure gauge, pressure relief valve and a regulator which     
converts pressure.                                                              

    If the JV is successful in obtaining market acceptance of the Technology
and the products derived therefrom, it intends to market Tanks to various       
users including Original Equipment Manufacturer's ("OEM's").  Inasmuch as the   
Tanks have not been manufactured by the JV on a mass basis, the cost of         
manufacturing the Tanks and the willingness of users to pay a particular price  
for the Tanks has not been determined with certainty at this time.              

Powerballs    The Powerballs are polyethylene coated pellets of sodium
hydride. The components of the Powerballs are readily available from a variety  
of sources.  Initially, the JV will not market Powerballs as a separate         
product, but will use Powerballs  in connection with the generation of          
hydrogen to be sold to purchasers of hydrogen gas.  If initial marketing        
efforts are successful, the JV will attempt to market Powerballs with its       
Tanks.                                                                          

 Powerballs are small solid balls or pellets (1.2 inches in diameter) of
sodium hydride that are coated with a waterproof plastic coating or skin.       
Powerballs are stored directly in water. They can remain in water for months    
with little or no change to the coatings. When a Powerball is cut in half       
under water, the sodium hydride inside reacts with the water to produce         
hydrogen.  A Powerball will react to completion in approximately 10 seconds.    

The Splitting Mechanism, Tanks, and Powerballs will initially be      
manufactured by the JV.  Necessary components will be supplied by a variety of  
outside contractors and suppliers, including fabrication, machining, laser      
cutting, vending suppliers, chemical, etc.                                      

10SB12G 6th Page of 31 TOC 1st Previous Next Bottom Just 6th

Recycling Plant                                                                 
---------------                                                                 

An important aspect of the JV's initial plan is the development of a  
Powerball Recycling Plant (the "Plant").  The Plant will be used to recycle     
the polyethylene Powerball shells and the spent sodium hydroxide solution       
(NaOH). An additional benefit of the Plant will be that sodium may be           
recovered from the spent sodium hydroxide solution on what management believes  
may be a commercially viable basis for resale to industrial and commercial      
users.                                                                          

In order to generate hydrogen on a cost effective basis using the     
Technology, there must be an economical source of Powerballs.  After the        
Powerballs are split in the Tanks, there remain the polyethylene shells and     
other components of the sodium hydride pellets.  The costs of generating        
hydrogen using the Technology will be reduced if these remains are recycled.    

  There is not an existing recycling Plant and the Plant to be constructed
by the Joint Venture will be a proto type plant. The construction and           
operation of the Plant will involve additional research and development         
efforts and will likely require fine tuning even if it is successfully placed   
in operation.                                                                   

As currently planned, the Recycling Plant will consist of a variety of
components including two hydroxide water evaporators, a furnace, heat           
exchangers, a sodium reactor and various control systems.  It is anticipated    
that the Recycling Plant will require approximately 2,000 square feet of floor  
space.  As of February 1999, engineering plans for the Plant have been          
completed which will allow it to be built in the existing facility currently    
leased by the JV. The Plant will be constructed by the JV under the direction   
of Checketts.                                                                   

Initial Marketing Plan                                                          
----------------------                                                          

The JV will initially direct its marketing efforts to the industrial  
hydrogen users market. There are currently four standard methods for providing  
hydrogen to industrial users: (1) hydrogen liquefaction; (2) compressed         
hydrogen gas; (3) on site reformation from natural gas; and (4) by-product      
hydrogen produced from nearby chemical plants.                                  

The Technology is not expected to be competitive as an alternative to 
hydrogen produced from on-site reformation or as a by-product from chemical     
plants.  The business plan of the JV is to attempt to demonstrate that the      
Technology is a viable commercial alternative for either the bulk shipment of   
liquid hydrogen or the bulk shipment of compressed hydrogen gas.  The JV will   
also attempt to market hydrogen and its hydrogen generating products to oil     
refineries, power plants and welding operations as part of its initial          
marketing efforts.                                                              

The long-term business plan of the JV is to manufacture and market    
hydrogen generation products (i.e., Tanks, Powerballs and Plants).  However,    
due to the limited capital available to the Joint Venture, management intends   
to attempt to prove the commercial viability of the Technology by generating    
and selling hydrogen generated from the JV's products and Technology to a       
limited number of industrial users.  However, there can be no assurance that    
the JV will be able to produce and market hydrogen for a price which is less    
than prices charged by other hydrogen producers.                                

10SB12G 7th Page of 31 TOC 1st Previous Next Bottom Just 7th

  A projected area of growth in the hydrogen market is as a fuel source in
proton exchange membrane (PEM) fuel cells.   The hydrogen combines with oxygen  
in the fuel cells to produce electricity.  General  Motors, Ford, Chrysler,     
Daimler-Benz, BMW, Volkswagen, Volvo, Renault,  Peugeot, Siemens, Toyota,       
Honda, Toshiba, Mitsubishi, Fuji, and Sanyo all  have fuel cell development     
programs in an attempt to develop and market hydrogen powered automobiles.      
Fuel cells can be used for many other purposes.   Without hydrogen, fuel cells  
cannot function.  A fuel cell works by reacting hydrogen gas with oxygen to     
produce water.                                                                  

As a result of the increase in fuel cell research and development     
activities, the demand for hydrogen required in the fuel cell is expected to    
increase significantly.  In addition to the demand for hydrogen in the          
developing fuel cell industry, the non-fuel cell industrial market for          
hydrogen has continued to expand.                                               

  The business plan of the JV is to ultimately provide hydrogen generating
products or technology for a variety of uses.  As of this date no specific      
marketing plan for uses has been developed.  It is anticipated that a long-     
term marketing plan will be developed when there has been sufficient            
acceptance of the Technology and the economics of the Technology, in the        
market.                                                                         

No formal marketing studies have been conducted relating to the       
production of hydrogen through the Technology.  As stated above, a detailed,    
long-term  marketing plan has not been developed.  The initial marketing        
efforts will be directed to trade shows and by direct marketing to end users    
or OEM's.  As the Technology is further refined and accepted in the market as   
a commercially viable alternative to hydrogen generation, the JV will develop   
a long-term marketing plan.                                                     

Research and Development                                                        
------------------------                                                        

   The JV will be required to continue to engage in research and development
in order to reduce the cost of hydrogen generation from the Powerball           
Technology.  Initially, much of the research and development efforts will       
relate to the construction and fine tuning of the Plant.  At such time as the   
Technology has found commercial acceptance in initial marketing areas, the JV   
will attempt to obtain additional capital with which to develop other           
commercial uses of the Technology.                                              

Competition                                                                     
-----------                                                                     

The JV will engage in the business of providing hydrogen generation   
products to end users and OEM's.   Initially, the JV will compete with other    
companies supplying hydrogen to industrial and commercial users.  Generally,    
such competitors will be supplying their customers with compressed hydrogen     
gas or liquid hydrogen.  The JV will also compete with any other companies      
which may offer technologies and products for hydrogen on demand production.    
In a global sense, the JV will be also be competing with the suppliers of all   
other fuels including natural gas suppliers, gasoline suppliers, and other      
similar suppliers.                                                              

   Nationally, there is significant research and development being conducted
in the area of hydrogen fuel generation.  The U.S. Government and numerous      
multinational corporations have and are funding various research projects.      
There is great interest and demand for the development of hydrogen technology   

10SB12G 8th Page of 31 TOC 1st Previous Next Bottom Just 8th

and products. This interest and demand will cause many additional companies     
and individuals to participate in the hydrogen industry.  The Company believes  
that most of the competitors and future competitors of the JV will have         
significantly greater assets, resources, experience, research and development   
talent and managerial capabilities than the Company. Although the JV's          
managements believes that the Technology has competitive advantages over other  
technologies, there can be no assurance that the JV will be able to fund the    
further development and marketing of Technology and related products, that the  
Technology will be accepted in the market place or that the Technology will be  
able to provide hydrogen generating capacity or products on a mass commercial   
basis.                                                                          

Intellectual Property Rights                                                    
----------------------------                                                    

The JV has been assigned the License for the Technology from Powerball
Industries as its capital contribution to the JV. Powerball Industries          
acquired an Exclusive License for the Technology from Checketts, the owner of   
the Technology.                                                                 

Checketts has been issued United States patents for two primary       
inventions: (i) a Hydrogen Generation System; and (ii) a Hydrogen Generation    
Pelletized Fuel (e.g., the Powerball).  The fuel pellet is used in the          
Hydrogen Generation System and is comprised of an alkali metal selected from    
the group consisting of sodium and calcium or metal hydride selected from the   
group consisting of NaH, CaH2, NaA1H4, and LiA1H4 core; and a coating of water  
impervious material applied over the entire surface of said core rendering the  
core impervious to water.                                                       

The License with Checketts provides for the payment to Checketts of a 
royalty of one per cent (1%) of the net selling price for all retail and        
wholesale of units and/or fuel pellets sold by the licensee or any sub-         
licensee.  The License has annual minimum production requirements commencing    
September 18, 1998.  The minimum production requirements for the second and     
third license year is of 50 units (hydrogen generation systems) and 250,000     
pounds of fuel pellets (Powerballs) for each.  The minimum production           
requirements for the fourth year 150 Units and 500,000 pounds of Powerballs.    
Commencing the fifth license year, the minimum production requirements are 250  
units and 5,000,000 pounds of fuel pellets for each license year.               

The License extends for the longer of five years or the life of the   
licensed patents, subject to earlier termination without cause by the Licensee  
(or its assign) or with cause by Checketts.                                     

Patent Applications for the Technology have been filed in the United  
States but have not been filed in any other country.  The principals of         
Powerball Industries have disclosed certain information about the Technology    
on the Internet.  As a result of such disclosures, the ability of the           
technology owner, Checketts, to obtain a patent in foreign countries has been   
significantly diminished if not entirely eliminated.  There can be no           
assurance that any foreign patents will ever issue.  The failure to obtain      
patent protection in foreign countries will have an adverse effect on the       
prospects of the Company and the JV.  The possibility exists that without       
patent protection, numerous competitors could use the Technology in competing   
products and ventures.  The possibility exists that such competitors would      
have the financial resources necessary to bring products using the technology   
to market earlier than the JV.                                                  

10SB12G 9th Page of 31 TOC 1st Previous Next Bottom Just 9th

Personnel                                                                       
---------                                                                       

The Company does not anticipate that it will be required to hire any  
full-time or part-time employees during the next year.  The Company's primary   
operation will be an investment in the JV.  The Company's President will        
provide services to the Company on an as needed basis without cash              
compensation for the foreseeable future.  In the event that part-time or full   
time employees are needed, the Company anticipates it will be able to hire      
qualified persons.                                                              

   The JV has hired Checketts and one other employee on a full-time basis to
perform the necessary Technology management, research and development and       
marketing efforts of the Company.  The JV will also hire such additional part-  
time employees and independent contractors as may be required to in its         
initial efforts to construct the Plant and commercialize the Technology.  The   
JV pays Checketts a salary of $4,000 per month.                                 

Facilities                                                                      
----------                                                                      

The Company has entered into an oral arrangement with Robert K. Ipson,
its president, providing for the use of his residence as its office until such  
time as the Company needs additional facilities.  The Company has not paid Mr.  
Ipson for the use of his residence.                                             

The JV will initially conduct its technical operations in a 2,500 sq. 
foot facility located at 2095 West 2200 South, Salt Lake City, Utah.  The       
facility is leased from TSP Enterprises, an unaffiliated entity, by JC          
Industries, a machine shop owned and operated owned by Checketts, and           
Powerball Industries, an entity owned by Checketts. The term of the lease is    
for a period of three (3) years beginning July 1996 and expiring June 1999.     
The current monthly lease payment is $937. These facilities will be leased      
until such time as additional facilities may be required. The JV currently      
makes the monthly lease payment.                                                

Item 2. Management's Discussion and Analysis or Plan of Operation               

Overview                                                                        
--------                                                                        
Cautionary Statement Regarding Forward-looking Statements                       
---------------------------------------------------------                       

This report may contain "forward-looking" statements.  The Company is 
including this cautionary statement for the express purpose of availing itself  
of the protections of the safe harbor provided by the Private Securities        
Litigation Reform Act of 1995 with respect to all such forward-looking          
statements.  Examples of forward-looking statements include, but are not        
limited to: (a) projections of revenues, capital expenditures, growth,          
prospects, dividends, capital structure and other financial matters; (b)        
statements of plans and objectives of the Company or its management or Board    
of Directors; (c) statements of future economic performance; (d) statements of  
assumptions underlying other statements and statements about the Company and    
its business relating to the future; and (e) any statements using the words     
"anticipate," "expect," "may," "project," "intend" or similar expressions.      

10SB12G 10th Page of 31 TOC 1st Previous Next Bottom Just 10th

Year 2000 Disclosure                                                            
--------------------                                                            

 The Company is working to resolve the potential impact of the year 2000
on the ability of the Company's computerized information systems to accurately  
process information that may be date-sensitive.  Any of the Company's programs  
that recognize a date using "00" as the year 1900 rather than the year 2000     
could result in errors or system failures.  The Company utilizes a minimum      
number of computer programs in its operations.  The Company has not completed   
its assessment, but currently believes that costs of addressing this issue      
will not have a material adverse impact on the Company's financial position.    
However, if the Company and third parties upon which it relies are unable to    
address this issue in a timely manner, it could result in a material financial  
risk to the Company.  In order to assure that this does not occur, the Company  
plans to devote all resources required to resolve any significant year 2000     
issues in a timely manner.                                                      

Plan of Operations                                                              
------------------                                                              

   Revenues.  The Company's revenues will be generated primarily through its
investment in the JV. The Company had no revenues for the year ended December   
31, 1998 or for the three month period ended March 31, 1999, and has had no     
revenues since July 9, 1997 ("Inception").                                      

Operating Expenses.  For the year ended December 31, 1998, total      
operating expenses were $22,891, resulting in a loss from operations of         
$22,891.  Total operating expenses for the three month period ended March 31,   
1999 were $1,171 and total operating expenses from inception have been          
$24,910, resulting in a loss from operations of $24,910 since Inception.        

  Other Expense.  Other expense for the year ended December 31, 1998 was a
net $49,875, of which all was represented by loss on the Company's investment   
in the JV.  Other expense for the three month period ended March 31, 1999 was   
a net $18,144, of which all was represented by loss on the Company's            
investment in the JV.  The Company's loss on its investment in the JV is        
$94,506 since the Company's Inception.                                          

   The Company experienced a net loss of $72,866 for the year ended December
31, 1998 and a net loss of $19,415 for the three month period ended March 31,   
1999.  The Company net loss since inception  has been $118,316. The basic loss  
per share for the year ended December 31, 1998 was $0.1214, based on the        
weighted average number of shares outstanding of 600,000 shares.  The basic     
loss per share for the three months ended March 31, 1999 and since Inception    
was $0.0209 and $0.1347, respectively, based on the weighted average number of  
shares outstanding for the respective periods.                                  

Liquidity and Capital Resources                                                 
-------------------------------                                                 

In connection with the Company's organization the founding shareholders 
acquired 200,000 shares of the Company's common stock for $40,000 cash.         
Thereafter, in December 1997, the Company completed a public offering of        
400,000 shares of common stock at a price of $1.00 per share for aggregate      
offering proceeds of $400,000.                                                  

10SB12G 11th Page of 31 TOC 1st Previous Next Bottom Just 11th

The issuances of common stock have been utilized for working capital, 
payment of professional services, the initial capital investment in the JV;     
the loan of additional working capital to JV, and for the continued             
development activities of the Company.                                          

In December 1997, the Company entered into the JV with Powerball      
Industries wherein the Company contributed $250,000 cash. In addition to the    
original $250,000 capital contribution to the JV made by the Company, the       
Company has agreed to loan additional capital to the JV, up to $100,000, for    
the purpose of (i) further development of the Technology; (ii) construction of  
the Plant; (iii) the manufacture of Tanks; (iv) demonstrate the commercial      
viability of the Technology; (v) develop commercial markets for the             
Technology; and(vi) meet the JV's ongoing working capital requirements.  As of  
March 31, 1999, the Company had loan the JV $69,000.                            

 At December 31, 1998, the Company had current assets of $109,664 and no
no current liabilities for working capital of $109,664.  At March 31, 1999,     
the Company had current assets of $248,780, consisting mostly of cash, and no   
liabilities for working capital of $248,780.  Cash used in operations for the   
year ended December 31, 1998  and March 31, 1999 was $(71,627) and $(18,485),   
respectively, while cash used in operations since inception is $(134,725) and   
has been funded primarily by cash received from capital contributions and the   
issuance of common stock for cash.                                              

In connection with the expenditures of the JV, all major financial      
decisions of the JV, including the expenditure of $5,000 or more, must be       
approved by both of the managers.  The managers determine whether any           
distributions of cash will be made to the owners.  Cash distributions will not  
be made until and unless the JV operates at a profit and thereafter, only if    
the managers jointly agree to such distributions.  It is not anticipated that   
cash distributions will be made to the owners in the foreseeable future.  If    
the JV generates profits, of which there can be no assurance, it is likely      
that most of such profits will be retained by the JV to fund additional         
research and development, to fund additional marketing efforts,  to acquire     
additional inventory and for working capital.                                   

The Company anticipate that within the next year additional funds will
also be needed to allow the JV to enter into other markets for hydrogen         
technology.  Future funding may involve the sale of additional ownership        
interests in the JV.  In such event, the percentage ownership interests of the  
Company and Powerball Industries in the JV will be reduced.  There can be no    
assurance that any additional required funding will be available to the JV.     

 It is expected that during the next year the primary expenditure of the
JV will relate to the construction of the Plant.  Additional JV funds will be   
used for general overhead and to manufacture additional Tanks. If the Plant is  
constructed and operates as intended, and if a demand for the Technology and    
related products arises, additional plants may be needed to handle increased    
capacity demands.  In such event, the JV would require additional capital or    
would be required to license or sell additional Plants.                         

ITEM 3.  DESCRIPTION OF PROPERTY                                                

The information required by this Item 3 is not applicable to this Form
10SB due to the fact that the Registrant does not own or control any material   
property.                                                                       

10SB12G 12th Page of 31 TOC 1st Previous Next Bottom Just 12th

ITEM 4.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT         

  The following table sets forth as of April 21, 1999 the name and address
and the number of shares of the Company's Common Stock, par value $0.001 per    
share, held of record or beneficially by each person who held of record, or     
was known by the Company to own beneficially, more than 5% of the 950,000       
shares of Common Stock issued and outstanding, and the name and shareholdings   
of each director and of all officers and directors as a group.                  

Security Ownership of Certain Beneficial Owners                                 
-----------------------------------------------                                 

Name and Address             Number of Shares  Nature of Ownership  % of Class  
----------------             ----------------  -------------------  ----------  
Robert K. Ipson (1)               121,000          Direct               12.74   
48 West 300 South, # 2303          71,300        Indirect (2)            7.51   
Salt Lake City, UT 84101                                                        

Shorland Hunsaker                 130,000          Direct               13.68   
2751 East Rubidoux Road                                                         
Salt Lake City, UT  84093                                                       

Paul N. Davis                      50,000          Direct                5.26   
2351 Mintze Drive                                                               
Salt Lake City, UT  84124                                                       

Securities Ownership of Management                                              
----------------------------------                                              
Robert K. Ipson (1)               121,000          Direct               12.74   
President and Director            71,300        Indirect (2)            7.51  

Shorland Hunsaker                 130,000          Direct               13.68   
Vice President and Director                                                   

Phillip L. McStotts                12,500          Direct                2.08   
Secretary/Treasurer and Director                                              

Officers and Directors                                                          
As a Group (3 persons)         283,500          Direct               29.84
                                71,300        Indirect                7.51
                               -------        --------               -----
  Total                        354,800                               37.35
                               =======                               =====

------------------------------                                                  
1)  Mr. Ipson also owns an option to purchase 100,000 shares of the Company's   
common stock at $1.00 per share.                                                

2)  Represents 70,000 shares held of record by Linda L. Ipson, the spouse of    
Robert K. Ipson; 800 shares held of record by the Robert K. Ipson, IRA; and     
500 shares held of record by the Linda Lou Ipson, IRA.                          

10SB12G 13th Page of 31 TOC 1st Previous Next Bottom Just 13th

ITEM 5.  Directors, Executive Officers, Promoters and Control Persons           

 The names and ages of the Registrant's executive officers and directors
and the positions held by each of them are set forth below:                     

Name                          Age      Position                       
---------------------         ---      ----------------------         
Robert K. Ipson               58       President/Director             
Shorland G. Hunsaker          68       Vice President/Director        
Phillip L. McStotts           39       Secretary/Treasurer/Director   

All directors of the Company will hold office until the next Annual   
Meeting of Shareholders and until their successors have been elected and        
qualified.                                                                      

Robert K. Ipson.  Mr. Ipson is, and has been since 1973, president of 
M.S.J. & Associates, Inc., a family-held company.  M.S.J. & Associates was the  
operator of the Bonneville Raceway in Salt Lake City, Utah until 1986.  Since   
that date it has managed its own investments.                                   

 Shorland G. Hunsaker.  Mr. Hunsaker was a teacher for 28 years with the
Murray City Schools in Murray, Utah.  Mr. Hunsaker retired from his position    
with the Murray City School District in June 1987. Mr. Hunsaker received a      
Master's Degree in Economics in 1959 from the University of Florida, received   
a Bachelor's Degree in Economics from Utah State in 1957, and received a        
teaching certificate in 1958 from the University of Utah.                       

  Phillip L.  McStotts   Mr. McStotts is a founder of ZEVEX International,
Inc. (NASDAQ/NMS:"ZVXI"), and serves as the Chief Financial Officer and         
Director of the Company. ZEVEX, based in Salt Lake City, Utah, is a company     
that designs and manufactures advanced medical devices, including surgical      
systems, device components, and sensors for medical technology companies.       
ZEVEX also designs, manufactures and markets its own medical devices using its  
proprietary technology.  ZEVEX currently has 93 employees and has been in       
business since 1986. Mr. McStotts is a CPA with fifteen years of experience.    
Mr. McStotts received his BS Degree in Accounting from Westminster College,     
Salt Lake City, UT and an MBA in Taxation from Golden Gate University.  Mr.     
McStotts has served for the last seven years, including the last two, as        
President and Past President of the Community Foundation for the Disabled,      
Inc.                                                                            

ITEM 6. EXECUTIVE COMPENSATION                                                  

No compensation has been paid or accrued to any officer or director of
the Company.  Currently, there is no plan to pay cash compensation to the       
Company's officers and directors for services rendered.  The Company may issue  
shares of Common Stock to management for services rendered valued at            
competitive rates.   In the event any shares are issued for services rendered   
by management, they shall be issued in such an amount as the Board of           
Directors deems fair and reasonable to the Company and its public shareholders  
and in compliance with management's fiduciary duties under state law.           
Officers and directors will be reimbursed for actual out-of-pocket expenses     
incurred on behalf of the Company as approved by the Board of Directors.        

10SB12G 14th Page of 31 TOC 1st Previous Next Bottom Just 14th

   The following tables set forth certain summary information concerning the
compensation paid or accrued for each of the Registrant's last two completed    
fiscal years (since inception in July 1997) to the Registrant's chief           
executive officer and each of its other executive officers that received        
compensation in excess of $100,000 during such period (as determined at         
December 31, 1998, the end of the Registrant's last completed fiscal year):     

SUMMARY COMPENSATION TABLE  

                                                        · Enlarge/Download Table

                                                         Long Term Compensation               
                                                        ----------------------                

                     Annual Compensation               Awards       Payouts                   
                                            Other      Restricted                             
Name and                                    Annual      Stock     Options  LTIP     All other 
Principal Position Year  Salary   Bonus($) Compensation Awards   /SARs    Payout  Compensation
------------------ ----  ------   -------- ------------ ------   -------  ------  ------------
                                                                                              
Robert K. Ipson     1998  $ -0-     -0-       -0-         -0-      -0-      -0-       -0-     
President           1997  $ -0-     -0-       -0-         -0-      -0-      -0-       -0-     


Options/SAR Grants in Last Fiscal Year                                          
--------------------------------------                                          

None.                                                                 

Bonuses and Deferred Compensation                                               
---------------------------------                                               

It is expected that the Company's President, Robert K. Ipson, will    
primarily be responsible for the day-to-day operations of the Company and will  
be appointed as the Company's designate as manager of the Joint Venture.  As    
an incentive for such services to the Company, the Company has granted Mr.      
Ipson an option to purchase 100,000 shares of the Company's common stock at a   
price of $1.00 per share.  The option vests as follows: (i) 50,000 shares  on   
January 31, 1998; and (ii) 50,000 shares on March 31, 1998.  Each option is     
exercisable for a period of four (4) years from the date of vesting.  The       
shares issuable upon the exercise of the Option carry registration rights       
which entitle Mr. Ipson to require the Company to register such shares with     
the Securities and Exchange Commission and with, to the extent necessary,       
appropriate state securities regulators.                                        

Compensation for Management of JV                                               
---------------------------------                                               

 The JV is managed by two managers, one appointed by the Company and one
appointed by Powerball Industries.  The Company has appointed Robert K. Ipson,  
its president as its management representative.  Powerball Industries has       
appointed Checketts to serve as its representative as manager.  The JV will     
not compensate Mr. Checketts for his services as a manager, but it has hired    
him as an employee at a salary of $4,000 per month.  The JV will compensate     
Mr. Ipson at the rate of $25.00 per hour for services rendered to the JV.  The  
rate of compensation is subject to adjustment in the future based upon factors  
such as the financial condition of the JV, the amount of time devoted by Mr.    
Ipson to the JV and the success of the JV.                                      

10SB12G 15th Page of 31 TOC 1st Previous Next Bottom Just 15th

Key Employee of the JV                                                          
----------------------                                                          

   Jed Checketts, age 30, is the owner of Powerball Industries, Inc., a Utah
corporation and JC Industries, a Utah based sole proprietorship.  Mr.           
Checketts has owned and operated JC Industries, a precision machining           
operation, since 1993.  Mr. Checketts has studied Manufacturing Engineering     
Technology at Brigham Young University and Chemical Engineering at the          
University of Utah.                                                             

Compensation Pursuant to Plans                                                  
------------------------------                                                  

None.                                                                 

Pension Table                                                                   
-------------                                                                   

Not Applicable.                                                       

Other Compensation                                                              
------------------                                                              

None.                                                                 

ITEM 7. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS                          

In 1997, in connection the organization of the Company, the Company   
issued a total of 200,000 shares of its common stock for $40,000 cash and       
issued an option to purchase an additional 100,000 shares of common stock to    
Robert K. Ipson, one of its founding shareholders.                              

  The Company presently utilizes the residence of its president, Robert K.
Ipson, as its office at no cost to the Company.                                 

The JV has hired Jed Checketts, the owner of Powerball Industries, the
Company's Joint Venture partner, who is paid a monthly salary of $4,000.        

ITEM 8. DESCRIPTION OF SECURITIES                                               

Common Stock                                                                    
------------                                                                    

  The Company is authorized to issue 25,000,000 shares of $0.001 par value
Common Stock.  At April 21, 1999, 950,000 shares were issued and outstanding.   
The holders of the Company's Common Stock are entitled to one vote per share    
on each matter submitted to vote at any meeting of shareholders.  Shares of     
Common Stock do not carry cumulative voting rights.                             

Shareholders of the Company have no pre-emptive rights to acquire     
additional shares of Common Stock or other securities.  The Common Stock is     
not subject to redemption and carries no subscription or conversion rights.     
In the event of liquidation of the Company, the shares of Common Stock are      
entitled to share equally in corporate assets after satisfaction of all         
liabilities.  The shares of Common Stock, when issued, will be validly issued,  
fully paid, and nonassessable.                                                  

10SB12G 16th Page of 31 TOC 1st Previous Next Bottom Just 16th

Holders of Common Stock are entitled to receive such dividends as the 
Board of Directors may from time to time declare out of funds legally           
available for the payment of dividends.  The Company seeks growth and           
expansion of its business through the reinvestment of profits, if any, and      
does not anticipate that it will pay cash dividends in the foreseeable future.  

PART II       

ITEM 1.  Market Price of and Dividends on the Registrant's Common Equity and    
Other Shareholder Matters                                     

The following table sets forth, for the respective periods indicated, 
the prices of the Company's Common Stock in the over the counter market as      
reported by a market maker on the NASD'S OTC Bulletin Board.  Such over the     
counter market quotations are based on inter-dealer bid prices, without         
markup, markdown or commission, and may not necessarily represent actual        
transactions.                                                                   

                                   Bid Quotation
                                   -------------
Fiscal Year 1999                          High Bid              Low Bid         
----------------                          --------              -------         
Quarter ended 3/31/99                     $2.50                 $1.12           

Fiscal Year 1998                          High Bid              Low Bid         
----------------                          --------              -------         
Quarter ended 3/31/98                     $5.81                 $1.12           
Quarter ended 6/30/98                     $5.87                 $1.62           
Quarter ended 9/30/98                     $4.50                 $0.94           
Quarter ended 12/31/98                  $3.50                 $1.25             

To the best knowledge of management of the Company, prior to January 1
1998, there was no reported bid or ask prices for the Company's Common Stock    
and there was no trading of the Company's Common Stock during its fiscal years  
ended December 31, 1997.                                                        

  The number of shareholders of record of the Company's Common Stock as of
April 21, 1999, was approximately 75.                                           

The Company has not paid any cash dividends to date and does not      
anticipate paying dividends in the foreseeable future.                          

ITEM 2.  LEGAL PROCEEDINGS                                                      

 The Company is not a party to any pending legal proceedings and no such
action by or against it, to the best of its knowledge, has been threatened.     

ITEM 3.  CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS                          

The Registrant has not changed nor had any disagreements with its   
independent certified accountants.                                              

10SB12G 17th Page of 31 TOC 1st Previous Next Bottom Just 17th

ITEM 4.  RECENT SALES OF UNREGISTERED SECURITIES                                

In July 1997, the Company issued 200,000 shares of its Common Stock to
its founding shareholders at $0.20 per share.  These shares are "restricted     
securities" as that term is defined in Rule 144 promulgated under the           
Securities Act of 1933, as amended (the "Securities Act"), and were issued to   
the founders of the Company pursuant to an exemption available under section    
3(b) and/or section 4(2) of the Securities Act.  Under Rule 144, restricted     
securities may not be sold in market transactions until such shares have been   
held for not less than one year and may only be resold thereafter if the        
seller complies with all of the terms and conditions of Rule 144 and if such    
resale is in compliance with applicable state securities laws.                  

 In December 1997, the Company issued 400,000 shares of its Common Stock
in a public offering in Utah and New York at a price of $1.00 per share. The    
offering was made under the registration by qualification provisions of         
section 61-1-10, of the securities laws of the State of Utah and was deemed to  
be exempt from registration under federal law pursuant to section 3(b) and/or   
Regulation D, Rule 504 of the Securities Act.  In addition, the securities      
were registered with the Colorado Securities Division pursuant to section 11-   
51-304 of the Colorado Revised Statutes, however, no securities were sold to    
residents of the State of Colorado.  Further, in connection with sales made to  
residents of the State of New York, the Company filed an Issuer's Statement on  
Form M-11 with the New York Department of Law, together with other              
documentation and information required by the State of New York.  The           
securities sold in the above offering were sold by Alpine Securities            
Corporation, the Underwriter, as the Company's exclusive agent on a "best       
efforts, all or none" basis to the public.  All subscription payments were      
placed in escrow pending the completion of the sale of the 400,000 shares.      
The Underwriter was paid a Underwriting Commission of $40,000 or 10% of the     
total offering proceeds.                                                        

During March and April 1999, the Company sold an aggregate of 350,000 
Units in a private placement to accredited investors for cash at a price of     
$0.50 per Unit, each Unit consisting of one share of restricted Common Stock    
and one warrant to purchase one share of Common Stock at an exercise price of   
$1.00 per share, exercisable over a term of three years.  No underwriter or     
placement agent was used by the Company and no commissions were paid.  The      
securities issued in the foregoing transaction were issued in reliance on the   
exemptions from registration and the prospectus delivery requirements of the    
Securities Act set forth in Rule 506 of Regulation D and/or section 4(2) of     
the Securities Act.  All of the purchasers represented that they were           
"accredited investors" as that term is defined under Rule 501 of Regulation D.  
Of the Units purchased, current officers and directors of the Company           
purchased an aggregate of 210,000 Units.  No general advertising or             
solicitation was used in connection with the sale of the Units by the Company.  

ITEM 5.  INDEMNIFICATION OF DIRECTORS AND OFFICERS                              

Sections 16-10a-901 through 909 of the Utah Revised Business Corporation Act    
provides in relevant parts as follows:                                          

   (1)  A corporation shall have power to indemnify any person who was or is
a party or is threatened to be made a party to any threatened, pending, or      
completed action, suit, or proceeding, whether civil, criminal,                 
administrative, or investigative (other than an action by or in the right of    
the corporation) by reason of the fact that he is or was a director, officer,   
employee, or agent of the corporation, or is or was serving at the request of   

10SB12G 18th Page of 31 TOC 1st Previous Next Bottom Just 18th

the corporation as a director, officer, employee, or agent of another           
corporation, partnership, joint venture, trust, or other enterprise, against    
expenses (including attorneys' fees), judgments, fines, and amounts paid in     
settlement actually and reasonably incurred by him in connection with such      
action, suit, or proceeding if he acted in good faith and in a manner he        
reasonably believed to be in or not opposed to the best interests of the        
corporation, and, with respect to any criminal action or proceeding, had no     
reasonable cause to believe his conduct was unlawful. The termination of any    
action, suit, or proceeding by judgment, order, settlement, conviction, or on   
a plea of nolo contendere or its equivalent, shall not, of itself, create a     
presumption that the person did not act in good faith and in a manner which he  
reasonably believed to be in or not opposed to the best interests of the        
corporation, and with respect to any criminal action or proceeding, had         
reasonable cause to believe that his conduct was unlawful.                      

   (2)  A corporation shall have power to indemnify any person who was or is
a party or is threatened to be made a party to any threatened, pending, or      
completed action or suit by or in the right of the corporation to procure a     
judgment in its favor by reason of the feet that he is or was a director,       
officer, employee, or agent of the corporation, or is or was serving at the     
request of the corporation as a director, officer, employee, or agent of        
another corporation, partnership, joint venture, trust, or other enterprise     
against expenses (including attorneys' fees) actually and reasonably incurred   
by him in connection with the defense or settlement of such action or suit if   
he acted in good faith and in a manner he reasonably believed to be in or not   
opposed to the best interests of the corporation and except that no             
indemnification shall be made in respect of any claim, issue, or matter as to   
which such person shall have been adjudged to be liable for negligence or       
misconduct in the performance of his duty to the corporation unless and only    
to the extent that the court in which such action or suit was brought shall     
determine on application that, despite the adjudication of liability but in     
view of all circumstances of the case, such person is fairly and reasonably     
entitled to indemnity for such expenses which such court shall deem proper.     

(3)  To the extent that a director, officer, employee, or agent of a  
corporation has been successful on the merits or otherwise in defense of any    
action, suit, or proceeding referred to in 1) or (2) of this subsection, or in  
defense of any claim, issue or matter therein, he shall be indemnified against  
expenses (including attorneys' fees) actually and reasonably incurred by him    
in connection therewith.                                                        

(4)  The indemnification provided by this section shall not be deemed 
exclusive of any other rights to which those seeking indemnification may be     
entitled under any bylaws, agreement, vote of stockholders or disinterested     
directors or otherwise, both as to action in his official capacity and as to    
action in another capacity while holding such office, and shall continue as to  
a person who has ceased to be a director, officer, employee, or agent and       
shall inure to the benefit of the heirs, executors, and administrators of such  
a person.                                                                       

The foregoing discussion of indemnification merely summarizes certain 
aspects of indemnification provisions and is limited by reference to the above  
discussed sections of the Utah Revised Business Corporation Act.                

   The Registrant's certificate of incorporation and bylaws provide that the
Registrant "may indemnify" to the full extent of its power to do so, all        
directors, officers, employees, and/or agents. It is anticipated that the       
Registrant will indemnify its officers and directors to the full extent         
permitted by the above-quoted statute.                                          

10SB12G 19th Page of 31 TOC 1st Previous Next Bottom Just 19th

Insofar as indemnification by the Registrant for liabilities arising  
under the Securities Act may be permitted to officers and directors of the      
Registrant pursuant to the foregoing provisions or otherwise, the Registrant    
is aware that in the opinion of the Securities and Exchange Commission, such    
indemnification is against public policy as expressed in the Securities Act     
and is, therefore, unenforceable.                                               

PART F/S      

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA                                     

The Company's balance sheets at December 31, 1998 and 1997, and the   
related statements of operations, stockholders' equity and cash flows for the   
year ended December 31, 1998 and the period from July 9, 1997 (date of          
inception) to December 31, 1998, have been examined to the extent indicated in  
their report by Daines and Rasmussen, a profession corporation of certified     
public accountants, and have been prepared in accordance with generally         
accepted accounting principles and are attached hereto and incorporated herein  
by this reference.                                                              

The unaudited balance sheet of the Company as of March 31, 1999; the  
related unaudited statements of operations and cash flows for the three months  
ended March 31, 1999 and from July 9, 1997 (inception) through March 31, 1997;  
are attached hereto and incorporated herein by this reference.                  

10SB12G 20th Page of 31 TOC 1st Previous Next Bottom Just 20th

DAINES AND RASMUSSEN                                                            
A PROFESSIONAL CORPORATION                                                      
CERTIFIED PUBLIC ACCOUNTANTS                                                    

Board of Directors                                                              
NATEX CORPORATION                                                               
(A Development Stage Company)                                                   
Salt Lake City, Utah                                                            

Independent Auditors' Report    
----------------------------    

We have audited the accompanying balance sheet of NATEX CORPORATION (A          
Development Stage Company) as of December 31, 1998 and 1997, and the related    
statements of operations, stockholders' equity and cash flows for the years     
ended December 31, 1998 and the period from July 9, 1997, (date of inception)   
to December 31, 1998. These financial statements are the responsibility of the  
Company's management. Our responsibility is to express an opinion on these      
financial statements based on our audits.                                       

We conducted our audits in accordance with generally accepted auditing          
standards. Those standards require that we plan and perform the audit to        
obtain reasonable assurance about whether the financial statements are free of  
material misstatement. 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 management, as well as evaluating the overall financial       
statement presentation. We believe that our audits provide 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 NATEX CORPORATION (A           
Development Stage Company) as of December 31, 1998 and 1997, and the results    
of its operations and its cash flows for the period then ended, in conformity   
with generally accepted accounting principles.                                  

/s/Daines and Rasmussen                                                         
Salt Lake City, Utah                                                            
February 5, 1999                                                                

495 EAST 4500 SOUTH, SUITE 202                                                  
SALT LAKE CITY, UTAH 84107                                                      
TELEPHONE (801) 266-1500                                                        

10SB12G 21st Page of 31 TOC 1st Previous Next Bottom Just 21st

NATEX CORPORATION 
(A Development Stage Company) 
BALANCE SHEETS  
December 31, 1998 and 1997

ASSETS                                                                      

                                                 1998           1997
                                                 -----------   -----------
Current Assets                                                                  
Cash                                              $    65,664   $    86,574 
Receivable - related entity                            44,000        44,000 
                                                 -----------   -----------

 TOTAL CURRENT ASSETS                                109,664       130,574
                                                 -----------   -----------

Organization costs, net of amortization of $1,239                               
and none                                                17,339        18,578  
Investments in limited liability company, at cost                               
less shares of losses                                  174,096       224,813  
                                                 -----------   -----------
TOTAL ASSETS                                        $   301,099   $   373,965   
                                                 ===========   ===========

LIABILITIES AND STOCKHOLDERS' EQUITY                                        

Current Liabilities                                                             
Accounts Payable                                   $         0   $         0  
                                                 -----------   -----------

 TOTAL CURRENT LIABILITIES                                 0             0
                                                 -----------   -----------

Stockholders' Equity                                                            
Common stock, $.001 par value;                                                
Authorized 25,000,000 shares;                                                 
Issued and outstanding 600,000 shares                     600           600 
Additional paid in capital                             399,400       399,400  
(Deficit) accumulated during the development                                  
 stage                                                (98,901)      (26,035)
                                                 -----------   -----------

 Total Stockholders' Equity                          301,099       373,965
                                                 -----------   -----------

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY          $   301,099   $   373,965   
                                                 ===========   ===========

The accompanying notes are an integral part of this financial statement. See    
accountant's report.                                                            

10SB12G 22nd Page of 31 TOC 1st Previous Next Bottom Just 22nd

 NATEX CORPORATION
(A Development Stage Company) 
 STATEMENT OF OPERATIONS
  Year ended December 31, 1998 and the Period from
   July 9, 1997 (Date of Inception) to December 31, 1998

                                                           July 9,
                                         Year ended       1997 (Inception)
                                    December 31,       to December
                                        1998             31,  1997
                                        -------------     ----------------
REVENUE                                    $           0     $              0   

Operating expenses:                                                             
Office expense                                     748                  766 
Professional fees                                4,967                5,797 
Amortization expense                             1,239                1,239 
Dues and subscriptions                           2,190                2,190 
Filing fees                                     12,436               12,436 
Travel                                           1,301                1,301 
Taxes and licenses                                  10                   10 
                                        -------------     ----------------

TOTAL OPERATING EXPENSES                          22,891               23,739   
                                        -------------     ----------------
OPERATING (LOSS)                                 (22,891)             (23,739)  

Other income and expenses:                                                      
(Loss) from partnership                        (50,717)             (75,904)
Interest Income                                    842                  842 
                                        -------------     ----------------

(Loss) before provision for income taxes         (72,766)             (98,801)  

Provision for income taxes                           100                  100   
                                        -------------     ----------------

NET INCOME (LOSS)                          $     (72,866)    $        (98,901)  
                                        =============     ================
Net (loss) per common share                $      (.1214)    $         (.2076)  
                                        =============     ================
Weighted average number of common shares         600,000              476,420   
                                        =============     ================

The accompanying notes are an integral part of this financial statement. See    
accountant's report.                                                            

10SB12G 23rd Page of 31 TOC 1st Previous Next Bottom Just 23rd

 NATEX CORPORATION
(A Development Stage Company) 
STATEMENT OF STOCKHOLDERS' EQUITY 
 Period from July 9, 1997 (Date of Inception) to December 31, 1998

                                                        · Enlarge/Download Table

                                                                                    Retained                   
                                                                                    (Deficit)                  
                                                                                   Accumulated                 
                                                                      Additional   During the       Total      
                                               Common Stock             Paid in    Development    Stockholders'
                                          Shares           Amount       Capital      Stage          Equity     
                                        ------------   ------------  ------------  ------------   ------------ 
                                                                                                               
Balance at July 9, 1997                            0   $          0  $          0  $          0   $          0 

Issuance of common stock for cash            200,000            200        39,800             0         40,000 

Issuance of common stock to the public                                                                         
  net of offering costs of $40,000           400,000            400       359,600             0        360,000 

Net (loss) for the period July 9, 1997                                                                         
  to December 31, 1997                             0              0             0       (26,035)       (26,035)
                                        ------------   ------------  ------------  ------------   ------------ 
Balance at December 31, 1997                 600,000            600       399,400       (26,035)       373,965 

Net (loss) for year ended                                                                                      
  December 31, 1998                                0              0             0       (72,866)       (72,866)
                                        ------------   ------------  ------------  ------------   ------------ 

Balance at December 31, 1998                 600,000   $        600  $    399,400  $    (98,901)  $    301,099 
                                        ============   ============  ============  ============   ============ 

The accompanying notes are an integral part of this financial statement. See    
accountant's report.                                                            

10SB12G 24th Page of 31 TOC 1st Previous Next Bottom Just 24th

 NATEX CORPORATION
(A Development Stage Company) 
STATEMENT OF CASH FLOWS 
Year ended December 31, 1998, and the Period from   
July 9, 1997 (Date of Inception) to December 31, 1998   

                                                        July 9, 1997
                                      Year ended         (Inception)
                                    December 31,       to December
                                       1998             31, 1998
CASH FLOWS FROM OPERATING ACTIVITIES:      -------------     ----------------   
Net (loss)                               $     (72,866)    $        (98,901)
Adjustments to reconcile net (loss) to                -                   200   
net cash provided by operating activities                                   
Amortization                                     1,293                1,239 
Increase in organization costs                       0              (18,578)
                                        -------------     ----------------
Net cash (used) by operating activities          (71,627)            (116,240)  
                                        -------------     ----------------

CASH FLOWS FROM INVESTING ACTIVITIES:                                           
Related party loans                                  0              (44,000)
Investment in limited liability company              0             (250,000)
Decrease in investment in limited                                           
 liability company                             50,717               75,904
                                        -------------     ----------------
Net cash provided (used) by investing                                           
activities                                      50,717             (218,096)
                                        -------------     ----------------

CASH FLOWS FROM FINANCING ACTIVITIES:                                           
Proceeds from issuance of common stock               0              400,000 
                                        -------------     ----------------
Net cash provided by financing activities              0              400,000   
                                        -------------     ----------------
Increase (decrease) in cash                      (20,910)              65,664   

Cash and cash equivalents - beginning                                           
of period                                       86,574                    0 
                                        -------------     ----------------
Cash and cash equivalents - end of period  $      65,664     $         65,664   
                                        =============     ================

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:                              

Interest paid during the period          $           0     $              0 
                                        =============     ================
Income taxes paid during the period      $         100     $              0 
                                        =============     ================

The accompanying notes are an integral part of this financial statement. See    
accountant's report.                                                            

10SB12G 25th Page of 31 TOC 1st Previous Next Bottom Just 25th

 NATEX CORPORATION
(A Development Stage Company) 
 NOTES TO FINANCIAL STATEMENTS
   From Inception on July 9, 1997 to December 31, 1998

(1)   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES                                

a.  Organization                                                                
------------                                                            
The Company was incorporated on July 9, 1997 under the laws of the State of     
Utah. At the present time, the Company is in the development stage. The         
Company was formed for the purpose of raising capital to invest in a joint      
venture which will acquire a license for certain technology relating to the     
production of hydrogen, to generate hydrogen for sale, and to market hydrogen   
generating equipment and products. The Company will, through its investment in  
a joint venture, be involved in research and development efforts of             
commercializing the technology.                                                 

b.  Investment in Limited Liability Company                                     
---------------------------------------                                 
The Company will account for its investment in the Limited Liability Comapny    
using the equity method of accounting.                                          

c.  Amortization of Organization Costs                                          
----------------------------------                                      
The Company is amortizing the organization cost over a 60 month period using    
the straight-line method.                                                       

d.  Income Taxes                                                                
------------                                                            
The Company provides for income taxes based on the liability method, which      
requires recognition of deferred tax assets and liabilities based on            
differences between financial reporting and tax bases of assets and             
liabilities measured using enacted tax rates and laws that are expected to be   
in effect when the differences are expected to reverse.                         

e.  Use of Estimates                                                            
----------------                                                        
The preparation of financial statements in conformity with generally accepted   
accounting principles requires management to make estimates and assumptions     
that affect the reported amounts of assets and liabilities and disclosure of    
contingent assets and liabilities at the date of the financial statements and   
the reported amounts of revenues and expenses during the reporting period.      
Actual results could differ from those estimates.                               

f.  Cash and Cash Equivalent                                                    
------------------------                                                
For purposes of the statement of cash flows, the Company considers all          
investment instruments purchased with a maturity of three months or less to be  
cash equivalents.                                                               

g.  Net Income (Loss) Per Common Share                                          
----------------------------------                                      
Primary earnings (loss) per common share is calculated by dividing net income   
(loss) for the period by the weighted average number of the Company's common    
shares outstanding and dilutive common equivalent shares from stock options     
and warrants, as calculated using the treasury stock method.                    

10SB12G 26th Page of 31 TOC 1st Previous Next Bottom Just 26th

 NATEX CORPORATION
(A Development Stage Company) 
NOTES TO FINANCIAL STATEMENTS - (continued)   
   From Inception on July 9, 1997 to December 31, 1998

g.  Net Income (Loss) Per Common Share (Continued)                              

Fully diluted earnings (loss) per common share reflect the calculation of the   
number of common equivalent shares based on the stock price at the end of the   
period. Fully diluted per common share amounts are not reported because the     
difference is not material from primary earnings per common share. The fully    
diluted (loss) per common share was $(.12) for the year ended December 31,      
1998 and $(.21) for the period July 9, 1997 (date of inception) to December     
31, 1998. The weighted average number of common shares outstanding used in the  
fully diluted calculation was $600,000 and $176, 420, respectively.             

h.  New Accounting Pronouncements                                               
-----------------------------                                           
In 1997 the FASB issued SFAS No. 128, Earnings Per Share, SFAS No. 130,         
Reporting Comprehensive Income, and SFAS No. 131, Disclosures about Segments    
of an Enterprise and Related Information. The Company believes the new          
standards will not have a material impact on the Company's financial            
statements presented herein or in the future.                                   

(2) EXECUTIVE STOCK OPTION PLAN                                                 
The Company's president has agreed to perform services on behalf of the         
Company for no compensation. To provide incentive for such services, the Board  
of Directors agreed on August 1, 1997 to grant an option to purchase 100,000    
shares of the Company's common stock at $1 per share. No options have been      
exercised as of December 31, 1998.                                              

(3) RECEIVABLE - RELATED PARTY                                                  
The receivable from related entity is an unsecured non-interest bearing loan    
which has no repayment terms. Th Company has agreed to loan up to a maximum of  
$100,000.                                                                       

The receivable is due from Powerball Technologies, LLC (A Development Stage     
Company). Natex Corporatin is a 50% owner of Powerball Technologies, LLC.       

(4) FAIR VALUE OF FINANCIAL INSTRUMENTS                                         
The following methods and assumptions were used by the Company in estimating    
its fair value disclosures for financial instruments:                           

Cash and cash Equivalents. The carrying amount reported in the balance sheet    
for cash and cash equivalents approximates its fair value.                      

The carrying amounts and fair values of the Company's financial instruments     
are as follows:                                                                 

                      December 31,            December 31,
                      1998                    1997
                      -------------------    ---------------------
                  Carrying     Fair      Carrying     Fair
                   Amount     Value       Amount     Value
                      --------  ---------    ---------  ----------
Cash and Cash Equivalents    $ 65,664  $  65,664    $  86,574  $   86,574       
                      ========  =========    =========  ==========

10SB12G 27th Page of 31 TOC 1st Previous Next Bottom Just 27th

 NATEX CORPORATION
(A Development Stage Company) 
NOTES TO FINANCIAL STATEMENTS - (continued)   
   From Inception on July 9, 1997 to December 31, 1998

(5) INVESTMENT IN LIMITED LIABILITY COMPANY                                     
The Company and Powerball Industries, Inc. have agreed to form a limited        
liability company (the "Joint Venture") to license the Technology; to further   
develop the Technology; to build a sodium hydride pellet recycling plant; to    
manufacture tanks in which hydrogen is generated; to demonstrate the            
commercial viability of the Technology; and to commercialize the Technology.    
Powerball Industries, Inc. will assign the Technology License to the Joint      
Venture, or will sub-license the Technology to the Joint Venture for a 50%      
ownership interest in the Joint Venture. The Company invested $250,000 in the   
Joint Venture for a 50% ownership interest in the Limited Liability Company     
Powerball Technologies, LLC (A Developmental Stage Company). The Company has    
also agreed to loan up to $100,000 to the Joint Venture if such funds are       
required for the Joint Venture's operations (See Note 3).                       

(6) STOCK OFFERING                                                              
On December 31, 1997, the Company successfully completed a public offering of   
400,000 shares of its $.001 par value common stock for $400,000 less offering   
costs of $40,000.                                                               

(7) INCOME TAXES                                                                
At December 31, 1998, the Company has a net operating loss carryforward of      
approximately $98,900 which will begin to expire in the year 2012.              

10SB12G 28th Page of 31 TOC 1st Previous Next Bottom Just 28th

NATEX CORPORATION         
(A Development Stage Company)         
Balance Sheet         

                                            March 31, 1999
                                             (Unaudited)
                                            --------------
ASSETS                                                                          

CURRENT ASSETS                                                                  
Cash                                                 $      179,781         
Receivable - related party                                   69,000         
                                            --------------
 TOTAL CURRENT ASSETS                              248,781
                                            --------------

Organization costs, net of amortization of $2,167            16,410         
Investment in limited liability company, at cost                            
less share of losses                                      155,494       
                                            --------------
 TOTAL OTHER ASSETS                                171,904
                                            --------------
 TOTAL ASSETS                               $      420,685
                                            ==============

LIABILITIES AND STOCKHOLDERS' EQUITY                                            

CURRENT LIABILITIES                                                             
Accounts payable                                     $            0         
                                            --------------
TOTAL CURRENT LIABILITIES                   $            0
                                            --------------
STOCKHOLDERS' EQUITY                                                            
Common stock, $.001 par value;                                              
Authorized 25,000,000 shares;                                               
Issued and outstanding 878,000 shares                         878       
Additional paid in capital                                  538,122         
(Deficit) accumulated during the development stage         (118,315)        
                                            --------------
TOTAL STOCKHOLDERS' EQUITY                         420,685
                                            --------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY  $      420,685
                                            ==============

10SB12G 29th Page of 31 TOC 1st Previous Next Bottom Just 29th

NATEX CORPORATION         
(A Development Stage Company)         
STATEMENT OF OPERATIONS         
Three months ended March 31, 1999 and the Period from         
July 9, 1997 (Date of Inception) to March 31, 1999        

                                        Three months       July 9,
                                                 ended      1997 (Inception)
                                             March 31,    to March 31,
                                          1999            1999
                                           (Unaudited)     (Unaudited)
                                           -------------   -------------
REVENUE                                        $           0   $           0    

Operating expenses:                                                             
Office expenses                                          0             766  
Professional fees                                        0           5,797  
Amortization expense                                   929           2,168  
Dues and subscriptions                                   0           2,190  
Filing fees                                              0          12,436  
Travel                                                   0           1,301  
Taxes and licenses                                     242             252  
                                           -------------   -------------
 TOTAL OPERATING EXPENSES                          1,171          24,910
                                           -------------   -------------
  OPERATING (LOSS)                                 (1,171)        (24,910)

Other income and expenses:                                                      
(Loss) from partnership                            (18,602)        (94,506) 
Interest income                                        458           1,300  
                                           -------------   -------------

(Loss) before provision for income taxes             (19,315)       (118,116)   

Provision for income taxes                               100             200    
                                           -------------   -------------
  NET (LOSS)                                $     (19,415)  $    (118,316)
                                           =============   =============

  NET (LOSS) PER COMMON SHARE               $      (.0209)  $      (.1347)
                                           =============   =============

Weighted average number of common shares             878,000         878,000    
                                           =============   =============

10SB12G 30th Page of 31 TOC 1st Previous Next Bottom Just 30th

NATEX CORPORATION         
(A Development Stage Company)         
STATEMENT OF CASH FLOWS         
Three months ended March 31, 1999 and the Period from         
July 9, 1997 (Date of Inception) to March 31, 1999        

                                        Three months       July 9,
                                                 ended      1997 (Inception)
                                             March 31,    to March 31,
                                          1999            1999
                                           (Unaudited)     (Unaudited)
                                           -------------   -------------
CASH FLOWS FROM OPERATING ACTIVITIES:                                           
Net (loss)                                   $     (19,415)  $    (118,316) 
Adjustments to reconcile net (loss) to                                          
net cash provided by operating activities                                   
Amortization                                           930           2,169  
Increase in organization costs                           0         (18,578) 
                                           -------------   -------------
Net cash (used) by operating activities              (18,485)       (134,725)   
                                           -------------   -------------

CASH FLOWS FROM INVESTING ACTIVITIES:                                           
Related party loans                                (25,000)        (69,000) 
Investment in limited liability company                  0        (250,000) 
Decrease in investment in limited liability                                 
company                                           18,602          94,506
                                           -------------   -------------
Net cash provided (used) by investing                                           
activities                                          (6,398)       (224,494) 
                                           -------------   -------------

CASH FLOWS FROM FINANCING ACTIVITIES:                                           
Proceeds from issuance of common stock             139,000         539,000  
                                           -------------   -------------
Net cash provided by financing activities            139,000         539,000    
                                           -------------   -------------

Increase in cash                                     114,117         179,781    

Cash and cash equivalents - beginning of period       65,664               0    
                                           -------------   -------------
Cash and cash equivalents - end of period      $     179,781   $     179,781    
                                           =============   =============

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:                               

Interest paid during the period              $           0   $           0  
                                           =============   =============
Income taxes paid during the period          $         100   $         200  
                                           =============   =============

10SB12G Last Page of 31 TOC 1st Previous Next Bottom Just 31st

PART III                                                                        

ITEM 1.  INDEX TO EXHIBITS                                                      

 Copies of the following documents are included as exhibits to this Form
10SB pursuant to Item 601 of Regulation SB.                                     

SEC                                                           
Exhibit  Reference                                                              
No.      No.        Title of Document                                           
-------  ---------  -----------------                                           

1        3(i)       Articles of Incorporation of the Registrant                 

2        3(ii)      Bylaws of the Registrant                                    

3        4.01       Specimen Stock Certificate                                  

4        4.02       Operating Agreement for Powerball Industries, LLC           

5        10.01      Exclusive License Agreement                                 

6        10.02      Assignment of Exclusive License Agreement                   

7        27         Financial Data Schedule                                     

ITEM 2.  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.                                     

                     NATEX CORPORATION

DATED:  APRIL 26, 1999                    /S/ Robert K. Ipson, President

10SB12G	1st Page of 31	TOC	Top	Previous	Next	Bottom	Just 1st

10SB12G	2nd Page of 31	TOC	1st	Previous	Next	Bottom	Just 2nd

10SB12G	3rd Page of 31	TOC	1st	Previous	Next	Bottom	Just 3rd

10SB12G	4th Page of 31	TOC	1st	Previous	Next	Bottom	Just 4th

10SB12G	5th Page of 31	TOC	1st	Previous	Next	Bottom	Just 5th

10SB12G	6th Page of 31	TOC	1st	Previous	Next	Bottom	Just 6th

10SB12G	7th Page of 31	TOC	1st	Previous	Next	Bottom	Just 7th

10SB12G	8th Page of 31	TOC	1st	Previous	Next	Bottom	Just 8th

10SB12G	9th Page of 31	TOC	1st	Previous	Next	Bottom	Just 9th

10SB12G	10th Page of 31	TOC	1st	Previous	Next	Bottom	Just 10th

10SB12G	11th Page of 31	TOC	1st	Previous	Next	Bottom	Just 11th

10SB12G	12th Page of 31	TOC	1st	Previous	Next	Bottom	Just 12th

10SB12G	13th Page of 31	TOC	1st	Previous	Next	Bottom	Just 13th

10SB12G	14th Page of 31	TOC	1st	Previous	Next	Bottom	Just 14th

10SB12G	15th Page of 31	TOC	1st	Previous	Next	Bottom	Just 15th

10SB12G	16th Page of 31	TOC	1st	Previous	Next	Bottom	Just 16th

10SB12G	17th Page of 31	TOC	1st	Previous	Next	Bottom	Just 17th

10SB12G	18th Page of 31	TOC	1st	Previous	Next	Bottom	Just 18th

10SB12G	19th Page of 31	TOC	1st	Previous	Next	Bottom	Just 19th

10SB12G	20th Page of 31	TOC	1st	Previous	Next	Bottom	Just 20th

10SB12G	21st Page of 31	TOC	1st	Previous	Next	Bottom	Just 21st

10SB12G	22nd Page of 31	TOC	1st	Previous	Next	Bottom	Just 22nd

10SB12G	23rd Page of 31	TOC	1st	Previous	Next	Bottom	Just 23rd

10SB12G	24th Page of 31	TOC	1st	Previous	Next	Bottom	Just 24th

10SB12G	25th Page of 31	TOC	1st	Previous	Next	Bottom	Just 25th

10SB12G	26th Page of 31	TOC	1st	Previous	Next	Bottom	Just 26th

10SB12G	27th Page of 31	TOC	1st	Previous	Next	Bottom	Just 27th

10SB12G	28th Page of 31	TOC	1st	Previous	Next	Bottom	Just 28th

10SB12G	29th Page of 31	TOC	1st	Previous	Next	Bottom	Just 29th

10SB12G	30th Page of 31	TOC	1st	Previous	Next	Bottom	Just 30th

10SB12G	Last Page of 31	TOC	1st	Previous	Next	Bottom	Just 31st

Dates Referenced Herein and Documents Incorporated By Reference

		Referenced-On Page
This 10SB12G Filing	Date	First	Last	Other Filings

	3/31/97	19
	7/9/97	3	30
	8/1/97	26
	12/31/97	16	27
	1/31/98	14
	3/31/98	14
	9/18/98	8
	12/31/98	10	27
	2/5/99	20
	3/31/99	10	30
	4/21/99	12	16
Filed On / Filed As Of	4/26/99	1	31

Top				List All Filings

Filing Submission - Alternative Formats (Word / Rich Text, HTML, Plain Text, SGML, XML, et al.)

			in		Show		and
Help...	Wildcards: ? (any letter), * (many). *Logic:* for Docs: & (and), \| (or); for Text: \| (anywhere), "(&)" (near).

Apollo Resources International Inc · 10SB12G · On 4/26/99

Filed On 4/26/99 · SEC File 0-25873 · Accession Number 1012895-99-36

Registration of Securities of a Small-Business Issuer · Form 10-SBFiling Table of Contents

10SB12G · Form 10-SbDocument Table of Contents

Dates Referenced Herein and Documents Incorporated By Reference

Registration of Securities of a Small-Business Issuer · Form 10-SB
Filing Table of Contents

10SB12G · Form 10-Sb
Document Table of Contents