As of May 16, 2005, there were outstanding 4,000,000 shares of the Registrant’s Common Stock ($0.01 par value per share).
USWE -- U.S. Wireless Data, Inc. Class A Com (No Par)(New)
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES: U S WIRELESS DATA INC files Form 10QSB, Quarterly Report of Financial Condition UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-QSB
[X] Quarterly Report under Section 13 or Section 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended March 31, 2005
[ ] Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Commission File Number 0-22848 U.S. Wireless Data, Inc. (Exact name of small business issuer as specified in its charter)
Delaware (State of incorporation)
84-1178691 (IRS Employer Identification No.)
420 Lexington Avenue, Suite 2450 New York, NY 10170 (Address of principal executive offices, including zip code)
(646) 452-6128 (Registrant's Telephone Number, including area code)
Check whether the issuer (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past ninety days. Yes [ ] No [X]
As of May 16, 2005, there were outstanding 4,000,000 shares of the Registrant’s Common Stock ($0.01 par value per share).
Transitional Small Business Disclosure Format. Yes [ ] No [X]
U.S. WIRELESS DATA, INC. TABLE OF CONTENTS Page PART I -- FINANCIAL INFORMATION
ITEM 1. Financial Statements
Consolidated Balance Sheet 3
Consolidated Statements of Operations 4
Consolidated Statements of Cash Flows 5
Consolidated Statements of Stockholders’ Equity 6
Notes to Consolidated Financial Statements 7- 14
ITEM 2. Management’s Plan of Operation 15- 19
ITEM 3. Controls and Procedures 19
PART II -- OTHER INFORMATION
ITEM 1. Legal Proceedings 20
ITEM 2. Changes in Securities and Small Business Issuer Purchases of Equity Securities 20 ITEM 3. Defaults Upon Senior Securities 20 ITEM 4. Submission of Matters to a Vote of Security Holders 20 ITEM 5. Other Information 21 ITEM 6. Exhibits 21
SIGNATURES 22
2
Part I — FINANCIAL INFORMATION ITEM 1. Financial Statements
U.S. WIRELESS DATA, INC. CONSOLIDATED BALANCE SHEET March 31, 2005 ASSETS Current assets: Cash and cash equivalents in escrow 51,000
Total assets $51,000
LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accrued liabilities $11,000
Total liabilities 11,000
Commitments and contingencies Stockholders' equity: Preferred stock, 1,000,000 shares authorized as of March 23, 2005; no shares issued or outstanding 0 Common stock, 19,000,000 shares authorized at $.01 par value as of March 23, 2005; 4,000,000 shares issued and outstanding as of March 31, 2005 40,000
Total stockholders' equity 40,000 . . .
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