UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2000 Commission file number 000-18081 RAMEX SYNFUELS INTERNATIONAL, INC. (Exact name of registrant as specified in its charter) NEVADA 87-0360039 (State or other jurisdiction of (IRS Employer incorporation or organization) Identification Number) 2204 W. Wellesley Spokane, WA (Address of principal executive offices) 99205 (Zip Code) (509) 328-9633 (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 APPLICABLE ONLY TO CORPORATE ISSUERS Indicate the number of shares outstanding of each of the issuer's classes of common stock as of July 31, 2000: 28,138,765 1 PART I ITEM 1 FINANCIAL INFORMATION RAMEX SYNFUELS INTERNATIONAL, INC. FINANCIAL STATEMENTS JULY 31, 2000 AND JANUARY 31, 2000 WILLIAMS & WEBSTER PS CERTIFIED PUBLIC ACCOUNTANTS BANK OF AMERICA FINANCIAL CENTER W 601 RIVERSIDE, SUITE 1940 SPOKANE, WA 99201 (509) 838-5111 RAMEX SYNFUELS INTERNATIONAL, INC. JULY 31, 2000 TABLE OF CONTENTS ACCOUNTANT'S REVIEW REPORT 1 FINANCIAL STATEMENTS Balance Sheets 2 Statements of Operations 3 Statement of Stockholders' Equity (Deficit) 4 Statements of Cash Flows 5 NOTES TO FINANCIAL STATEMENTS 6 2 Board of Directors Ramex Synfuels International, Inc. Spokane, WA Accountant's Review Report We have reviewed the accompanying balance sheets of Ramex Synfuels International, Inc. as of July 31, 2000 and the related statements of operations, cash flows, and stockholders' equity for the six months ended July 31, 2000. All information included in these financial statements is the representation of the management of Ramex Synfuels International, Inc. We conducted our review in accordance with standards established by the American Institute of Certified Public Accountants. A review of interim financial information consists principally of applying analytical procedures to financial data and making inquiries of persons responsible for financial and accounting matters. It is substantially less in scope than an audit in accordance with generally accepted auditing standards, the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion. Based on our review, we are not aware of any material modifications that should be made to the accompanying financial statements in order for them to be in conformity with generally accepted accounting principles. The financial statements for the year ended January 31, 2000 were audited by us and we expressed an unqualified opinion on them in our report dated March 2, 2000, but we have not performed any auditing procedures since that date. The statements of operations and cash flows for the six months ending July 31, 1999 were prepared by management without audit or review and accordingly, no opinion or other form of assurance has been expressed on them. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 3 to the financial statements, the Company has suffered recurring losses from operations, has generated no revenues in the last three years, has a working capital deficit and substantial liabilities. These conditions raise substantial doubt about the Company's ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 3. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. /s/ Williams & Webster, P.S. Williams & Webster, P.S. Certified Public Accountants Spokane, Washington September 6, 2000 3 RAMEX SYNFUELS INTERNATIONAL, INC. BALANCE SHEETS July 31, January 31, 2000 2000 (unaudited) ------------ ------------ ASSETS CURRENT ASSETS Cash $ 1,045 $ 10,484 ------------ ------------ TOTAL CURRENT ASSETS 1,045 10,484 ------------ ------------ TOTAL ASSETS $ 1,045 $ 10,484 ============ ============ LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $ 46,288 $ 46,969 Related party payables 3,231 4,158 ------------ ------------ TOTAL CURRENT LIABILITIES 49,519 51,127 ------------ ------------ COMMITMENTS AND CONTINGENCIES 10,100 10,100 ------------ ------------ STOCKHOLDERS' EQUITY (DEFICIT) Common stock; $.01 par value: 125,000,000 shares authorized; 28,138,765 shares issued and outstanding 281,387 281,387 Additional paid-in capital 4,633,708 4,618,402 Accumulated deficit (4,973,669) (4,950,532) ------------ ------------ TOTAL STOCKHOLDERS' EQUITY (DEFICIT) (58,574) (50,743) ------------ ------------ TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 1,045 $ 10,484 ============ ============

See accountant's review report and notes to financial statements Accountants' page 2 4 RAMEX SYNFUELS INTERNATIONAL, INC. STATEMENTS OF OPERATIONS For the Three Months Ended For the Six Months Ended July 31, July 31 (Unaudited) (Unaudited) -------------------------- -------------------------- 2000 1999 2000 1999 ------------ ------------ ------------ ------------ REVENUE $ - $ - $ - $ - GENERAL AND ADMINISTRATIVE EXPENSES 5,119 4,021 23,137 12,399 ------------ ------------ ------------ ------------ OPERATING LOSS $ (5,119) (4,021) (23,137) (12,399) PROVISION FOR INCOME TAXES - - - - ------------ ------------ ------------ ------------ NET LOSS $ (5,119) (4,021) (23,137) (12,399) ============ ============ ============ ============ BASIC AND DILUTED NET LOSS PER SHARE $ nil $ nil $ nil $ nil ============ ============ ============ ============ BASIC AND DILUTED WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING 28,138,765 27,334,417 28,138,765 25,211,666 ============ ============ ============ ============

See accountant's review report and notes to financial statements Accountants' page 3 5 RAMEX SYNFUELS INTERNATIONAL, INC. STATEMENT STOCKHOLDERS' EQUITY (DEFICIT) Common Stock Additional ---------------------- Paid-ion Accumulated Shares Amount Capital Deficit Totals ---------- ---------- ------------ ------------ ---------- Balance, February 1, 1999 16,023,465 $ 160,234 $ 4,594,929 $ (4,929,749) $ (174,586) Common stock issued For accts payable And related party Payables at prices Ranging from $.01 To $.04 per share 11,065,300 110,653 23,473 - 134,126 Common stock issued For services at $0.01 per share 50,000 500 - - 500 Common stock issued For cash at $0.01 per share 1,000,000 10,000 - - 10,000 Net loss for the year Ended Jan. 31, 2000 - - - (20,783) (20,783) ---------- ---------- ------------ ------------ ---------- Net loss for the year ended January 31, 2000 - - - (20,783) (20,783) ---------- ---------- ------------ ------------ ---------- Balance, January 31, 2000 28,138,765 281,387 4,618,402 (4,950,532) (50,743) Contribution of additional paid-in capital - - 15,306 - 15,306 Net loss for six months ended July 31, 2000 - - - (23,137) (23,137) ---------- ---------- ------------ ------------ ---------- Balance, July 31, 2000 (unaudited) 28,138,765 $ 281,387 $ 4,633,708 $ (4,973,669) $ (58,574) ========== ========== ============ ============ ==========

See accountant's review report and notes to financial statements Accountants' page 4 6 RAMEX SYNFUELS INTERNATIONAL, INC. STATEMENTS OF CASH FLOWS For the Six Months Ended July 31, -------------------------- 2000 1999 ------------ ------------ CASH FLOWS FROM OPERATING ACTIVITIES Net (loss) $ (23,137) $ (12,399) Adjustments to reconcile net loss to net cash used by operating activities: Common stock issued for services - 500 Common stock issued for related parties payable - 1,000 Increase (decrease) in payables (681) - Increase (decrease) in related party payables (927) - ------------ ------------ Net cash used in operating activities (24,745) (10,899) ------------ ------------ CASH FLOWS FROM INVESTING ACTIVITIES - - ------------ ------------ CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from sale of common stock - 10,000 Contribution to additional paid-in capital 15,306 - ------------ ------------ Net cash provided by financing activities 15,306 10,000 ------------ ------------ Change in cash (9,439) (899) Cash, beginning of period 10,484 6,509 ------------ ------------ Cash end of period $ 1,045 $ 5,610 ============ ============ Supplemental cash flow disclosure: Income taxes paid in cash $ - $ - ============ ============ Interest paid in cash $ - $ - ============ ============ Non-cash financing activities: Common stock issued for services $ - $ 500 ============ ============ Common stock issued for related parties payable $ - $ 1,000 ============ ============

See accountant's review report and notes to financial statements Accountants' page 5 7 RAMEX SYNFUELS INTERNATIONAL, INC. NOTES TO FINANCIAL STATEMENTS JULY 31, 2000 NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS The Company's predecessor, Cache Oil Corporation, was incorporated in March 1980, under the laws of the State of Utah. In July 1980, Cache Oil Corporation purchased, in a business combination, all of the outstanding common stock of Ramex Horn, Inc., a Wyoming corporation, which was subsequently dissolved. In December 1980, Cache Oil merged with a wholly owned subsidiary of Ramex Horn, Inc., Ramex Synthetic Fuels International, Inc., a Utah corporation, at which time the name of the surviving Utah corporation was changed to Ramex Synfuels International, Inc. (the Company). The Company had been in the development stage prior to 1992, at which time operations ceased. Currently management is seeking new capital through formation of a strategic alliance or joint venture. NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES This summary of significant accounting policies of Ramex Synfuels International, Inc. is presented to assist in understanding the Company's financial statements. The financial statements and notes are representations of the Company's management, which is responsible for their integrity and objectivity. These accounting policies conform to generally accepted accounting principles and have been consistently applied in the preparation of the financial statements. Accounting Method The Company's financial statements are prepared using the accrual method of accounting with a year-end of January 31. Basic and Diluted Loss per Share Loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding during the year. The weighted average is calculated by taking the number of shares outstanding and weighting them by the amount of time that they were outstanding. Basic and diluted loss per share is the same as there are no common stock equivalents outstanding. Cash and Cash Equivalents For purposes of the Statement of Cash Flows, the Company considers all short-term debt securities purchased with a maturity of three months or less to be cash equivalents. Financial Accounting Standards The Company has adopted the fair value accounting rules to record all transactions in equity instruments for goods or services. 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. Accountants' page 6 8 RAMEX SYNFUELS INTERNATIONAL, INC. NOTES TO FINANCIAL STATEMENTS JULY 31, 2000 NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Provision for Taxes At July 31, 2000, the Company has a net operating loss carryforward of approximately $4,973,000 that may be offset through 2014. No tax benefit has been reported in the financial statements as the Company believes there is a 50% or greater chance the net operating loss carryforwards will expire unused. Accordingly, the potential tax benefits of the net operating loss carryforwards are offset by a valuation allowance of the same amount. Impaired Asset Policy In March 1995, the Financial Accounting Standards Board issued a statement titled "Accounting for Impairment of Long-lived Assets." In complying with this standard, the Company will review its long-lived assets quarterly to determine if any events or changes in circumstances have transpired which indicate that the carrying value of its assets may not be recoverable. The Company does not believe any adjustments are needed to the carrying value of its assets at July 31, 2000. Derivative Instruments In June 1998, the Financial Accounting Standards Board issued Statement of Financial Accounting Standards ("SFAS") No. 133, "Accounting for Derivative Instruments and Hedging Activities." This standard establishes accounting and reporting standards for derivative instruments, including certain derivative instruments embedded in other contracts, and for hedging activities. It requires that an entity recognize all derivatives as either assets or liabilities in the balance sheet and measure those instruments at fair value. At July 31, 2000, the Company has not engaged in any transactions that would be considered derivative instruments or hedging activities. NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) Interim Financial Statements The interim financial statements as of and for the six months ended July 31, 2000, included herein have been prepared for the Company, without audit. They reflect all adjustments which are, in the opinion of management, necessary to present fairly the results of operations for these periods. All such adjustments are normal recurring adjustments. The results of operations for the periods presented are not necessarily indicative of the results to be expected for the full fiscal year. Revenue Recognition Policy Revenues from sales will be recognized at the point of sale. 9 RAMEX SYNFUELS INTERNATIONAL, INC. NOTES TO FINANCIAL STATEMENTS JULY 31, 2000 NOTE 3 - GOING CONCERN The Company's financial statements have been presented on a going concern basis that contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. In recent years however, the Company has sustained substantial operating losses without generating any revenues. In addition, the Company has substantial liabilities and a working capital deficit of $48,474. These conditions raise substantial doubt about the Company's ability to continue as a going concern. Management's plans to mitigate this issue are summarized as follows: Management has provided an infusion of cash through advances from officers and directors and minimized the Company's cash expenditures. Management also intends to seek new capital by forming a strategic alliance or joint venture. The above actions are expected to provide funds needed to increase liquidity and implement the Company's business plans. See Notes 7 and 9. NOTE 4 - STOCK OPTION AND COMPENSATION BONUS PLAN In 1989, the Company established a nonqualified stock option plan for its directors, employees, and outside consultants. Under the plan, options to purchase shares of the Company's common stock may be granted at 76% of the fair market value of the common stock at the date of grant. Options may be partially exercised within six months of the grant and are fully exercisable within twenty-seven months of the grant date. NOTE 4 - STOCK OPTION AND COMPENSATION BONUS PLAN (CONTINUED) The Company originally provided for a maximum of 3,000,000 shares to be issued under the stock option plan. In 1989 and 1990, the Company issued 1,366,667 shares under the plan and has issued no additional shares since that time. The remaining shares available under the plan were reduced to 163,333 due to the Company's reverse stock split in 1994. No options were outstanding as of July 31, 2000. NOTE 5 -RELATED PARTY TRANSACTIONS As of July 31, 2000 and January 31, 2000, the Company owed $3,231 and $4,158, respectively to officers for accrued consulting fees, advances and expenses paid on behalf of the Company. During the year ended January 31, 2000, stock was issued to related parties in payment of a majority of the related party payables. See Note 8. NOTE 6 - ACCOUNTS PAYABLE Accounts payable principally consists of trade payables which are several years old. It appears that no efforts are being made by the vendors to collect these delinquent balances, and the Company believes that collection efforts are unlikely. During the year ended January 31, 2000, stock was issued in payment of a portion of the accounts payable. See Note 8. 10 RAMEX SYNFUELS INTERNATIONAL, INC. NOTES TO FINANCIAL STATEMENTS JULY 31, 2000 NOTE 7 - COMMITMENTS AND CONTINGENCIES Ramex Research Partners, Ltd. In September 1993, the Company as the general partner in newly formed Ramex Research Partners, Ltd., a Texas limited partnership, raised $110,000 for further development of an oil shale gasification process. This process is protected by a patent (issued on May 29, 1990), owned by the Company, which is carried at no cost on the Company's financial statements. In return for this funding, the Company has granted to the limited partners a limited term royalty payable from the future proceeds, if any, of gas produced from the application of this process. This limited term royalty will continue until the limited partners have received the greater of (1) payments aggregating 1.10% of the net profits derived from the first 1,000 productive wells using this process, or (2) payments aggregating ten times the limited partners' original investment. The patented process, a partially developed technology for gasification of oil shale, remains unproven. Management estimates that completing development and testing the technology would cost in excess of one million dollars. There is no assurance that the process would ever be successfully developed. Therefore management determines that in its current state the fair value of the technology is nil. The Company anticipates that it will sell the technology to the President of the Company for the nominal consideration of one dollar, after approval of the acquisition of Sportsend. (See Note 7.) Attendant with the ownership of the technology, any future prospective liabilities related thereto will also be transferred. Currently there are no liabilities associated with the technology. Sports Sports.Com, Inc. During January 2000, the Company executed a plan of reorganization with Sports Sports.Com, Inc., (hereinafter "Sportsend") a Florida corporation, doing business on the World Wide Web as Sportsend.Com. In executing the plan of reorganization, the Company is expected to have a one for thirty reverse split of its issued and outstanding common stock and pay off all currently existing liabilities. Subsequent to these financial statements, Sportsend has advanced $130,000 to a trust account that is controlled by the president of Ramex for the purpose of liquidating these liabilities and paying expenses related to the plan of reorganization. At January 31, 2000, Sportsend had advanced $10,100 to the Company for the specific purpose of paying for the shareholders' proxy in regard to this plan of reorganization. After the reverse stock split and payment of liabilities, the Company intends to acquire Sportsend in a reverse merger through a stock for stock transaction. The acquisition date is expected to be set once both companies have their annual audited financial statements and the aforementioned conditions have been met. NOTE 8 - COMMON STOCK During the year ended January 31, 2000, the Company issued 11,065,300 shares of its common stock for in payment of accounts payable and related party payables at prices ranging from $0.01 to $0.03 per share. The Company also issued 50,000 shares of common stock for services at $0.01 per share and 1,000,000 shares of common stock for cash at $0.01 per share. The shares were issued at the fair market value on the date of issuance. 11 RAMEX SYNFUELS INTERNATIONAL, INC. NOTES TO FINANCIAL STATEMENTS JULY 31, 2000 NOTE 9 - SUBSEQUENT EVENTS The Company has executed a plan of reorganization with Sports Sports.Com, Inc. a Florida corporation, doing business on the World Wide Web as Sportsend.Com. The reorganization calls for acquisition of Sportsend through stock for stock transactions after a one for thirty reverse stock split of the Company's common stock and other conditions are met. See Note 7. NOTE 10 - YEAR 2000 ISSUES Like other companies, Ramex Synfuels International, Inc. could be adversely affected if the computer systems it, its suppliers or customers use do not properly process and calculate date-related information and data from the period surrounding and including January 1, 2000. This is commonly known as the "Year 2000" issue. Additionally, this issue could impact non-computer systems and devices such as production equipment, elevators, etc. At this time there have been no known problems related to the Year 2000 issue. The Company has reviewed its business and processing systems and believes that the majority of its systems are already year 2000 compliant or can be made so with software updates. Based on its assessments, the Company regards the costs associated with Year 2000 readiness to be immaterial. All costs associated with the Year 2000 issue will be expensed as incurred. 12 ITEM 2 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Financial Condition: The Company's only asset as of July 31, 2000 was cash of $1,045. Current liabilities as of that date were $49,519, which resulted in a working capital deficiency of $48,474. Since January 31, 2000, the working capital deficiency has increased by $7,831, which was due to the payment of normal operating expenses. Results of Operations: The Company had no revenue for the quarter ended July 31, 2000. General and administrative expenses of $5,119 were comprised of normal operating expenses such as accounting, office, telephone and filing fees. PART II ITEM 1 LEGAL PROCEEDINGS NONE ITEM 2 CHANGES IN SECURITIES NONE ITEM 3 DEFAULTS UPON SENIOR SECURITIES NONE ITEM 4 SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS NONE ITEM 5 OTHER INFORMATION NONE ITEM 6 EXHIBITS AND REPORTS ON FORM 8-K Exhibits required by Item 601: (23) Consent of experts and council Attached (27) Financial Data Schedule, Electronic Filing Only Attached No reports were filed on Form 8-K in the quarter ending July 31, 2000. 13 SIGNATURES Pursuant to the requirements of Section 13 of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. RAMEX SYNFUELS INTERNATIONAL, INC. ---------------------------------- (Registrant) Dated: Sept 15, 2000 /s/ Maynard M. Moe ------------------------------------ Maynard M. Moe, President and Chief Executive Officer Dated: Sept 15, 2000 /s/ Kerry L. Weger ------------------------------------ Kerry L. Weger, Secretary-Treasurer and Chief Financial Officer

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