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

FORM 10-Q

(Mark One)

[X]
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarter Ended September 30, 2004

OR

[   ]
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


COMMISSION FILE NUMBER 000-32783


WIN OR LOSE ACQUISITION CORPORATION
(Exact name of registrant as specified in its charter)


DELAWARE
  
59-3685745
(State or other jurisdiction of
  
(I.R.S. Employer
incorporation or organization)
  
Identification No.)


1268 Bayshore Boulevard
Dunedin, Florida 34698
(Address of principal executive offices,
including zip code)


(727) 734-7346
(Registrant’s telephone number,
including area code)


Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 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 90 days.
Yes  [X]    No  [   ]

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date.

Title of Each Class
  
Outstanding at November 9, 2004
Common Stock, $0.001 Par Value
  
2,400,000 Shares

 
Form 10-Q — Page-1
     
 

TABLE OF CONTENTS


PART I
FINANCIAL INFORMATION
  
PAGE
       
ITEM 1
Financial Statements
    
       
 
Balance Sheet as of September 30, 2004 and December 31, 2003
  
3
       
 
Statement of Operations for the three- and nine-month periods ended September 30, 2004 and 2003
  
4
       
 
Statement of Cash Flow for the nine-month periods ended September 30, 2004 and 2003
  
5
       
 
Notes to Unaudited Interim Financial Statements
  
6
       
ITEM 2
Management’s Discussion and Analysis of Results of Operations, Financial Condition and Plan of Operations
  
9
       
       
ITEM 3
Quantitative and Qualitative Disclosures About Market Risk
  
10
       
ITEM 4
Controls and Procedures
  
10
       
PART II
OTHER INFORMATION
  
10
       
ITEM 6
Exhibits and Reports on Form 8-K
  
11
       
 
SIGNATURES
  
11

 
Form 10-Q — Page-2
     
 

WIN OR LOSE ACQUISITION CORPORATION
BALANCE SHEETS

ASSETS
 
   
September 30,
  
December 31,
  
   
2004
  
2003
  
   
(unaudited)
  
(audited)
  
Current Assets:
              
Cash
  
$
15,541
 
$
1,085
 
Deposits and prepaid expense
  
$
4,375
 
$
-
 
Total current assets
    
19,916
   
1,085
 
               
Deferred Offering Costs
              
Filing fees
    
462
   
10
 
Miscellaneous offering costs
    
11,096
   
-
 
Legal fees
    
1,625
   
-
 
Total deferred offering costs
    
13,184
   
10
 
               
Total Assets
  
$
33,100
 
$
1,095
 
               
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
              
Accounts payable
  
$
250
 
$
2,250
 
Due to affiliates
  
$
-
 
$
-
 
Total current liabilities
  
$
250
 
$
2,250
 
               
Long-term Debt
              
Total long-term debt
  
$
-
 
$
-
 
               
Total Liabilities
  
$
250
 
$
2,250
 
               
Stockholders’ Equity
              
Common stock, $0.001 par value, 25,000,000 shares authorized, 2,400,000 shares outstanding at September 30, 2003 and 2002
  
$
2,400
 
$
2,400
 
Preferred Stock, $0.001 par value, 5,000,000 shares authorized, no shares outstanding
    
-
   
-
 
Additional paid in capital
  
$
253,444
 
$
213,443
 
Deficit accumulated during development stage
  
$
(222,994
)
$
(216,998
)
               
Total Stockholder’s Equity
  
$
32,850
 
$
(1,155
)
               
Total Liabilities and Stockholders’ Equity
  
$
33,100
 
$
1,095
 



The accompanying notes are an integral part of these financial statements.

 
Form 10-Q — Page-3
     
 

WIN OR LOSE ACQUISITION CORPORATION
STATEMENT OF OPERATIONS

   
Three Months Ended
September 30,
  
Nine Months Ended
September 30,
  
   
2004
  
2003
  
2004
  
2003
  
   
(Unaudited)
  
(Unaudited)
  
(Unaudited)
  
(Unaudited)
  
Revenue
  
$
-
 
$
-
 
$
-
 
$
-
 
                           
Expenses
                          
General and administrative
  
$
222
 
$
3,750
 
$
5,995
 
$
12,236
 
Total Expenses
  
$
222
 
$
3,750
 
$
5,995
 
$
12,236
 
                           
Net(Loss)
  
$
(222
)
$
(3,750
)
$
(5,995
)
$
(12,236
)
                           
Net (Loss) Per Common Share
  
$
-
 
$
-
 
$
-
 
$
-
 
                           
Number of common shares issued
                          
and outstanding during period
    
2,400,000
    
2,400,000
    
2,400,000
    
2,400,000
  
                           
Number of common shares used
                         
to compute net loss per share
    
2,400,000
    
2,400,000
    
2,400,000
    
2,400,000
  



The accompanying notes are an integral part of these financial statements.

 
Form 10-Q — Page-4
     
 

WIN OR LOSE ACQUISITION CORPORATION
STATEMENT OF CASH FLOW

   
Nine-Months Ended September 30,
  
   
2004
  
2003
  
   
(Unaudited)
  
(Unaudited)
  
Cash flows from operating activities
              
Net income (loss)
  
$
(5,995
)
$
(12,236
)
Less expenses paid by affiliates
  
$
-
 
$
-
 
Net cash operating loss
  
$
(5,995
)
$
(12,236
)
               
Change in operating assets and liabilities:
              
(Increase) decrease in deposits and prepaid expenses
  
$
(4,375
)
      
Increase (decrease) in current liabilities
  
$
(2,000
)
$
2,015
 
Net cash provided by (used in)
              
operating activities