SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

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

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

                  For the quarterly period ended March 31, 2000

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

                  For the transition period from______to______

                         Commission File Number: 2-41015

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

                                    LBU, Inc.
        (Exact Name of Small Business Issuer as Specified in its Charter)

================================================================================
 Nevada                                                              62-1203301
 (State or Other Jurisdiction of           (I.R.S.  Employer Identification No.)
  Incorporation or Organization)


310 Paterson Plank Road, Carlstadt, N.J.                                  07072
(Address of Principal Executive Offices)                              (Zip code)

Issuer's Telephone Number, Including Area Code:                   (201) 933-2800

Former  Name,  Former  Address and Former  Fiscal  Year,  if Changed  Since Last
Report:

Check  whether the issuer (1) filed all reports  required to be filed by section
13 or 15 (d) of the  Securities  Exchange  Act of 1934 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 90
days. Yes [ ] No [X]

As of May 4, 2000,  the Issuer had 1,814,334  shares of Common Stock,  par value
$.001, outstanding.

Transitional Small Business Disclosure Format (check one):    YES___   NO_X_


<PAGE>


                                    LBU, Inc.
                                      INDEX

                                                                        Page No
Part I - Financial Information:

Item 1. Condensed Balance Sheets March 31, 2000 and December 31, 1999         3

         Condensed Statements of Operations for the Three Months Ended
         March 31, 2000 and 1999                                              5

         Condensed Statements of Cash Flows for the Three Months Ended
         March 31, 2000 and 1999                                              6

         Notes to Condensed Financial Statements (Unaudited)                  7



Item 2. Management's Discussion and Analysis of Financial
         Condition and Results of Operations                                  10

Part II - Other Information:

Item 6.  Exhibits and Reports on Form 8-K                                     13


Signatures                                                                    15




                                       2
<PAGE>


PART I

Item 1. Financial Statements
                                    LBU, Inc.
                                 Balance Sheets

                                                         March 31,  December 31,
                                                           2000        1999 .
                    ASSETS
Current assets:
  Cash and cash equivalents                                16,593   $   20,546
  Accounts receivable (net of allowance for
     bad debts of  $4,721 and $53,135 respectively)       397,285      222,813
  Inventory                                               629,735      680,084
  Deferred Tax Asset                                        4,370        4,370
  Other current assets                                     32,339       32,431
                                                       ----------   ----------
    Total current assets                                1,080,322      960,244

Noncurrent assets:
  Fixed assets, net                                       231,150      286,043
  Other assets                                            126,788       82,244
                                                       ----------   ----------

       Total assets                                    $1,438,260   $1,328,531
                                                       ==========   ==========


         LIABILITIES AND STOCKHOLDERS EQUITY
Current liabilities:
  Accounts payable                                     $  176,335   $  113,647
  Accrued expenses                                         12,282       82,009
  Customer advances                                       121,474       91,438
  Taxes payable                                            42,853       15,613
  Accounts payable - Reorganization Settlement             86,861            0
                                                       ----------   ----------
     Total current liabilities                            439,805      302,707
                                                       ----------   ----------

Pre-bankruptcy and long term liabilities:
  Accounts payable                                              0      792,689
  Accrued expenses                                              0       73,030
  Notes payable                                                 0      739,139
  Taxes payable                                                 0            0
                                                       ----------   ----------
   Pre-bankruptcy liabilities                                   0    1,604,858
Long-term liabilities
  Deferred Income Tax                                      19,744       19,744
  Accounts Payable-Reorganization Settlement               47,066            0
                                                       ----------   ----------
     Total long term liabilities                           66,810    1,624,602
                                                       ----------   ----------

         Total liabilities                                506,615    1,927,309
                                                       ----------   ----------

          See accompanying notes to the condensed financial statements


                                       3
<PAGE>


                                    LBU, Inc.
                            Balance Sheets, continued


                                                       March 31,    December 31,
                                                         2000           1999

Stockholders' equity:
  Common stock ($.001 stated value)
50,000,000 shares authorized,
2,041,347 and 1,359,477, respectively,
issued and outstanding                                     1,544          1,544
Additional paid in capital                             1,148,378      1,148,379
Accumulated deficit                                     (218,277)    (1,748,701)
                                                     -----------    -----------
  Total stockholders' equity                             931,645       (598,778)
                                                     -----------    -----------

    Total liabilities and stockholder's equity       $ 1,438,260    $ 1,328,531
                                                     ===========    ===========





          See accompanying notes to the condensed financial statements


                                       4
<PAGE>


                                    LBU, Inc.
                            Statements of Operations

                                                     Three            Three
                                                  months ended     months ended
                                                 March 31, 2000   March 31, 1999
                                                 --------------   --------------


Net sales                                           $   976,340     $ 1,010,225
Costs of sales                                          518,695         616,460
                                                    -----------     -----------

    Gross profit                                        457,645         393,765
                                                    -----------     -----------

    Operating expenses:
Shipping and selling                                    123,928          68,284
General and administrative                              219,129         186,385
Factor fees and interest                                 24,625          42,257
                                                    -----------     -----------
  Total operating expenses                              367,682         296,926
                                                    -----------     -----------

     Operating income (loss)                             89,963          96,839

  Other income (expense):
Interest income                                               0             156
Insurance loss adjustment fee                                 0          (8,965)
Insurance proceeds in excess of replacement               8,349               0
State income tax                                              0            (825)
Chapter 11 legal expense                                   (413)        (10,511)
                                                    -----------     -----------

  Total other income (expense)                            7,936         (20,145)
                                                    -----------     -----------

Income (loss) before income taxes                        97,899          76,694

Income taxes                                             27,565               0
                                                    -----------     -----------

Net income                                          $    70,334     $    76,694
                                                    ===========     ===========

Net income per share-Basic                          $      0.04     $      0.06
                                                    ===========     ===========

Net income per share-Fully diluted                  $      0.04     $      0.06
                                                    ===========     ===========


          See accompanying notes to the condensed financial statements


                                       5
<PAGE>


                                    LBU, Inc.
                            Statements of Cash Flows
<TABLE>
<CAPTION>
                                                             Three                   Three
                                                         months ended             months ended
                                                        March 31, 2000           March 31, 1999
                                                        --------------           --------------

<S>                                                        <C>                     <C>
  Cash flow from operating activities:
Net income (loss)                                          $  70,334               $  76,694
                                                           ---------               ---------
  Adjustments to reconcile net income to net
  cash provided (used) by operating activities
Depreciation and amortization                                 16,003                  13,601
Non-cash compensation
  (Increase) decrease in
Accounts receivable                                         (249,859)                (51,018)
Inventories                                                   50,349                 169,072
Current assets                                                    92                  80,214
  Increase (decrease) in
Accounts payable                                              51,846                (219,034)
Accrued expenses                                             (69,727)                 (4,892)
Customer Advances                                             30,036                  50,885
Income Taxes Payable                                          27,240                       0
                                                           ---------               ---------
  Total adjustments                                          144,020)                 38,828
                                                           ---------               ---------
   Net cash provided by (used in) operating activities       (73,686)                115,522
                                                           ---------               ---------

   Cash flow from investing activities:
Capital expenditures                                          (5,654)                      0
                                                           ---------               ---------
  Net cash used by investing activities                       (5,654)                      0
                                                           ---------               ---------
   Cash flow from financing activities:
Repayment of loans                                          (799,613)               (207,535)
Proceeds from loans and factor advances                      875,000                  20,000
                                                           ---------               ---------
  Net cash provided by  (used in) financing activities        75,387                (187,535)
                                                           ---------               ---------
  Net (decrease) increase in cash                             (3,953)                (72,013)
Cash at beginning of period                                   20,546                 145,454
                                                           ---------               ---------
Cash at end of period                                      $  16,593               $  73,441
                                                           =========               =========

Supplemental disclosures:
  Cash paid during the period for
   Interest and factor fees                                $  24,625               $  45,575
</TABLE>


          See accompanying notes to the condensed financial statements


                                       6
<PAGE>


                                    LBU, Inc.
                     Notes to Condensed Financial Statements
                                   (unaudited)

The  accompanying  unaudited  financial  statements  have been  prepared  by the
Company  pursuant to the rules and  regulations  of the  Securities and Exchange
Commission  regarding  interim  financial  reporting.  Accordingly,  they do not
include all of the  information  and  footnotes  in  accordance  with  generally
accepted accounting  principals for complete financial  statements and should be
read in  conjunction  with the  audited  financial  statements  included  in the
Company's  Annual Report on Form 10-KSB for the year ended December 31, 1999. In
the opinion of  management,  the  accompanying  unaudited  financial  statements
contain all adjustments,  consisting only of those of a normal recurring nature,
necessary for a fair presentation of the Company's financial  position,  results
of operations and cash flows at the dates and for the periods presented.

On March 23, 1999,  the company  filed  petitions for relief under chapter 11 of
the federal bankruptcy laws. The action was precipitated by the decline in sales
and gross margin and an increase in expenses  during the year ended December 31,
1999,  resulting  in the  inability  to pay  approximately  $725,000 due John P.
Holmes  Co.,  Inc.  that was due January 1, 1999 and other  liabilities  as they
became due.

A Trustee was  appointed and a plan for recovery was been  prepared.  The factor
revised their factoring and lending  agreement and such financing  continues.  A
consultant  with industry  experience was retained and cost cutting was put into
affect.

LBU  continued  to operate,  and  continued to factor its  receivables  with CIT
pursuant  to an  order  of the  Bankruptcy  Court.  LBU  has  filed  a  plan  of
reorganization  that provides for: (a) an extension and  modification of the CIT
agreement,  (b) payment to unsecured creditors of either: (i) one share of stock
for  every  $2.00  of  debt,  or (ii) 20  monthly  payments  equal  to  22.5% of
creditor's claims, and (c) retention of stock by existing shareholders.

The Reorganization  Plan was confirmed on January 13, 2000. JPHC elected a stock
distribution of 362,500 shares of Common Stock, under the Reorganization Plan in
satisfaction  of its  $700,000  claim.  In  addition,  JPHC  would no  longer be
entitled to the 60,000  shares  issuable  upon the  conversion  of the  $300,000
convertible note. Of the $904,858 balance of the $1,604,858  Liabilities Subject
to Compromise,  a total of $146,140 is subject to payout under the 20-month cash
payment election and additional 87,370 shares are to be issued under the 1 share
for $2 of debt election.  Management  estimates that  approximately,  $30,000 of
Liabilities Subject to Compromise is subject to dispute.  Accordingly, the total
debt  reduction  is  $1,458,718  as a result  of the  Reorganization.  The total
increase in shares issued and outstanding as a result of the Reorganization plan
is 681,870.

The  operating  results  for the  three  months  ended  March  31,  2000 are not
necessarily indicative of the results to be expected for the full year.


                                       7
<PAGE>


                                    LBU, Inc.
               Notes to Condensed Financial Statements, continued
                                   (unaudited)


Note 1 - Accounts Receivable And Factoring Arrangements

The Company entered into a factoring arrangement whereby a factor makes advances
to the  Company  based  upon a  percentage  of  certain  eligible  invoices.  In
addition,  the factor  makes  advances  to the Company  based upon its  eligible
inventory  levels.  Interest  of 2% per annum above the prime rate is charged on
outstanding advances.  The advances are collateralized by the Company's accounts
receivable,  inventories  and certain other assets.  In addition,  the Company's
President and principal  shareholder  has personally  guaranteed  advances under
these  agreements.  The factor also charges a commission  of 1 1/8% on the gross
face amount of all amounts factored, subject to a minimum commission per invoice
and other service fees.

Prior to the bankruptcy filing date, the Company and CIT revised their factoring
agreement whereby the Company repaid the $200,000 advanced during early 1999.


Note 2 - Notes and Capital Lease  Payable

Notes and capital  lease  payable  consist of the following as of March 31, 2000
and December 31, 1999:

                                                              2000          1999
                                                              ----          ----

Accounts Payable-Reorganization Settlement                $133,927      $      0
Promissory notes payable (a)                                     0       200,000
Promissory note payable(b)                                       0        30,000
Convertible notes payable (b)                                    0       500,000
Capital lease (d)                                                0         9,139
                                                          --------      --------

Total                                                      133,927       739,139
Less, current installments                                  86,861             0
                                                          --------      --------
Notes and capital lease payable,
    Less current installments                             $ 47,066      $739,139
                                                          ========      ========

(a)  $200,000 of principal matured on January 1, 1999 and has become part of the
     bankruptcy proceedings.

(b)  Principal  was due to mature on June 22, 2000.  Interest  accrues at 9.12%.
     This note has become part of the bankruptcy proceedings.

(c)  Principal  of $500,000  matured on January 1, 1999.  Notes are  convertible
     into Common Stock of the Company at a fixed  conversion  price of $5.00 per
     share. This note has become part of the bankruptcy proceedings.

(d)  Lease payments are $3,812 for each year through December 31, 2000. Interest
     accrues at 12% per annum.  This  lease has  become  part of the  bankruptcy
     proceedings.


                                       8
<PAGE>


                                    LBU, Inc.
               Notes to Condensed Financial Statements, continued
                                   (unaudited)

Note 3 - Commitments and Contingencies

The Company  entered  into a ten-year  lease  agreement  for its  facilities  in
Carlstadt,  New Jersey,  which  commenced  on July 1, 1995.  The minimum  future
rental payments under the  non-cancelable  operating leases as of March 31, 2000
are:

                       Year Ending
                       December 31               Amount
                       -----------               ------

                         2000                  $ 116,224
                         2001                    160,121
                         2002                    167,465
                         2003                    172,521
                         2004                    179,368




                                       9
<PAGE>


Item 2. Management's  Discussion and Analysis of Financial Condition and Results
        of Operations.

Forward Looking Statements and Associated Risks

The discussion and analysis which follows in this Quarterly  Report and in other
reports and documents of the Company and oral  statements  made on behalf of the
Company by its  management  and  others may  contain  trend  analysis  and other
forward-looking  statements  within the meaning of Section 21E of the Securities
Exchange Act of 1934 which reflect the  Company's  current views with respect to
future events and financial  results.  These  include  statements  regarding the
Company's  earnings,  projected growth and forecasts,  and similar matters which
are not historical facts. The Company reminds  stockholders that forward-looking
statements  are merely  predictions  and  therefore  are  inherently  subject to
uncertainties  and other  factors  which could cause the actual future events or
results  to  differ  materially  from  those  described  in the  forward-looking
statements.  These  forward-looking  statements  involve risks and uncertainties
including the emerging of the Company from bankruptcy proceedings,  availability
and terms of additional  financing;  changes which could affect customer payment
practices or customer spending; industry trends; the loss of major customers and
changes in demand for the Company's products; the timing of orders received from
customers;  cost and availability of raw materials;  increases in costs relating
to manufacturing and  transportation  of products;  the outcome of litigation to
which the Company is a party and the seasonal nature of the Company's business.

The  forward-looking  statements  contained  in this  Quarterly  Report and made
elsewhere by or on behalf of the Company  should be considered in light of these
factors.

The Company has attempted to identify additional  significant  uncertainties and
other factors affecting forward-looking statements in Exhibit 99 incorporated by
reference to this Quarterly Report  ("Additional  Information  Regarding Forward
Looking  Statements").  The  Company  will  provide  copies  of  Exhibit  99  to
stockholders  free of charge upon receipt of a written request  submitted to the
Company's Secretary at LBU, Inc., 310 Paterson Plank Road, Carlstadt, New Jersey
07072.  Stockholders  may also obtain copies of Exhibit 99 for a nominal  charge
from the Public Reference  Section of the Securities and Exchange  Commission at
450 Fifth Street,  N.W.,  Washington D.C. 20549 or at the Commission's  website:
http://www.sec.gov.

Results of Operations

Three months ended March 31, 2000 versus three months ended March 31, 1999

The Company's  net sales  decreased by $ 33,885 or 4% to $ 976,340 for the three
months  ended March 31, 2000 from $ 1,010,225  for the three  months ended March
31, 1999. This decrease was due primarily to the


Costs of sales  decreased by $ 97,765 to $ 518,695 (or 53% of net sales) for the
three  months  ended March 31, 2000 from $ 616,460 (or 61% of net sales) for the
three months


                                       10
<PAGE>


ended March 31, 1999. This decrease is primarily attributable to the decrease in
sales in the 2000 three-month period and better pricing of orders shipped.

As a result of the foregoing, gross profit increased by $63,880 to $ 457,645 for
the three  months ended March 31, 2000 from $ 393,765 for the three months ended
March 31, 1999.

Shipping  and selling  costs  increased by $ 55,644 to $ 123,928 (or 12 % of net
sales) for the three  months  ended March 31,  2000 from  $68,284 (or 6 % of net
sales) for the three months ended March 31, 1999. This increase is primarily due
to the hiring of additional  salespeople and the implementation of an aggressive
commission schedule.

General and administrative  expenses increased by $ 32,744 to $ 219,129 (or 22 %
of sales) for the three  months  ended  March 31, 2000 from $ 186,385 (or 18% of
sales) for the three months ended March 31, 1999. This increase primarily is due
the hiring of a data processing  consultant to implement the new computer system
and an increase in insurance costs.

Factor fees and interest  decreased by $ 17,632 to $ 24,625 (or 2% of sales) for
the three  months  ended  March 31,  2000 from $ 42,257 (or 4% of sales) for the
three  months  ended  March 31,  1999.  This  decrease  is a direct  result of a
decrease in factoring  activity  and the  repayment of debt to the factor at the
end of March 1999.

As a result of the foregoing,  total operating expenses increased by $ 70,756 to
$367,682  (or 37% of  sales)  for the three  months  ended  March 31,  2000 from
$296,926 (or 29% of sales) for the three months ended March 31, 1999.

As a result of the foregoing,  the Company  incurred a net income of $70,334 for
the three  months  ended March 31, 2000 as compared to net income of $76,694 for
the three months ended March 31, 1999.

Liquidity and Capital Resources

The Company's  cash position as of March 31, 2000 and March 31, 1999 was $16,593
and $73,441,  respectively.  Net cash provided by (used in) operating activities
for the three months ended March 31, 2000 and 1999 was $ (73,686) and $ 115,522,
respectively, representing an decrease of $189,208 in the 2000 period.

During the three months ended March 31, 1999, cash used in investing  activities
totaled  $5,654,   which  consists   primarily  of  capital   expenditures   for
manufacturing  equipment in the Company's Carlstadt  facility.  No cash was used
for investing activities during the three months ended March 31, 2000.

During  the three  months  ended  March  31,  1999,  net cash used in  financing
activities  totaled  $187,535  which  includes a repayment  of the loan from the
company's  factor,  CIT, in the amount of $207,535 and the  borrowing of $20,000
from its bank  credit line prior to the filing of  bankruptcy.  During the three
months ended March 31, 2000,  net cash used in financing  activities was $75,387
which is a direct result of advances from Company's factor, CIT.


                                       11
<PAGE>


Currently,  LBU's primary  source of financing is the CIT Group  ("CIT"),  which
provides factoring and accounts receivable financing.  The Company pays a 1.125%
factor  charge  on its  invoices  for  the  guarantee  of  payment  on  eligible
receivables  which CIT then collects from the Company's  customers.  The Company
pays 2% above  the  prime-lending  rate on  borrowings  up to 85% of an  invoice
amount.

During  April 1998,  CIT agreed to make  advances  to the  Company  based upon a
percentage  of its levels of  eligible  inventories.  As of December  31,  1999,
$200,000 had been  advanced to the Company under this  arrangement.  As of March
31, 2000,  the $200,000  advanced by CIT was repaid by the company from accounts
receivable  payments  as part of the  agreement  with CIT to  continue  with its
factoring arrangement during the bankruptcy proceedings.

Income taxes

As of December  31, 1999 the  Company had federal and state net  operating  loss
carryforwards of  approximately  $1,750,000 and $1,920,000  respectively,  which
will  begin to expire in 2018 and  2007,  respectively.  As a result of the debt
compromised by the final bankruptcy settlement,  the federal and state operating
carryforward   losses  as  of  March  31,  2000  are  $291,282   and   $111.292,
respectively, which will begin to expire in 2019 and 2008, respectively.

New Financial Standards

In June 1997,  the  Financial  Accounting  Standards  Board  (the  FASB)  issued
Statement of Financial  Accounting Standards ("SFAS") No. 131, "Disclosure about
Segments  of an  Enterprise  and Related  Information"  ("SFAS  131").  SFAS 131
establishes standards for the way public business enterprises report information
about operating segments in annual financial  statements and requires that those
enterprises  report selected  information about operating  segments in financial
reports issued to shareholders.  It also  establishes  standards for disclosures
about products and services,  geographic areas and major customers.  SFAS 131 is
effective for financial statements for fiscal years beginning after December 15,
1997.  Financial  statement  disclosures  for prior  periods are  required to be
restated.

The  adoption  of  SFAS  131 has  had no  impact  on the  Company's  results  of
operations,  financial position or cash flows.  Management does not receive, nor
does the Company generate,  discrete financial operating results for any portion
of the business other than for product sales.


                                       12
<PAGE>


                           PART II. Other Information

Item 6.  Exhibits and Reports on Form 8-K

(a)      Exhibit No.          Description
         -----------          -----------

             2.1              Plan of Reorganization  dated February 17, 1995 by
                              and  between  New  Century  Media,  Ltd.  a Nevada
                              Corporation,    and   LBU,    Inc.    a   Delaware
                              Corporation.(1)

             3.1              Certificate  of  Incorporation  of LBU, Inc. dated
                              September 2, 1994. (2)

             3.2              By-laws of LBU, Inc. dated October 4, 1994. (2)

             3.3              Form of two-year stock purchase warrant.(3)

             3.4              Form of Three-year stock purchase warrant.(3)

             10.1             Factoring  Agreement dated October 25, 1993 by and
                              between   LBU,   Inc.   (Delaware)   and  The  CIT
                              Group/Commercial Services Inc. (4)

             10.2             Guaranty dated October 25, 1993 by and between CIT
                              and Jeffrey and Isel Mayer, individually, relating
                              to the above Factoring Agreement.(4)

             10.3             Inventory Security Agreement dated January 4, 1995
                              by   and   between   LBU,   Inc.   and   The   CIT
                              Group/Commercial Services, Inc.(4)

             10.4             Lease agreement dated April 1, 1995 by and between
                              Albert    Frassetto     Enterprises,     a    sole
                              proprietorship, and Bags of Carlstadt, Inc. (4)

             10.5             Subscription Agreement dated March 27, 1997 by and
                              between JPHC and the Registrant.(4)

             10.6             Promissory  note dated August 21, 1997, as amended
                              on  February   21,   1998,   by  and  between  the
                              Registrant and John P. Holmes & Company, Inc. (4)

             10.7             Promissory  note  dated  September  19,  1997,  as
                              amended on  November  21,  1997 and  February  21,
                              1998, by and between the Registrant and JPHC.(4)

             10.8             Consulting  agreement  dated  February 19, 1998 by
                              and between JPO, LLC and the Registrant. (4)

             21.1             List of Subsidiaries

                              Subsidiary                  State of Incorporation
                              ----------                  ----------------------
                              LBU, Inc.                   Delaware
                              Bags of Carlstadt, Inc. New Jersey

             27.1             Financial Data Schedule (filed via EDGAR only).

             99               Additional  Information  Regarding Forward Looking
                              Statements


            (1)     Filed  as an  Exhibit  to the New  Century  Media,  Ltd.  (a
                    predecessor  of the  Registrant)  Form  10-K/A  for the year
                    ended   December   31,   1994  dated   March  10,  1995  and
                    incorporated herein by reference thereto.


                                       13
<PAGE>


            (2)     Filed as an Exhibit to the New Century Media, Ltd. Form 10-Q
                    for the quarter ended  September 30, 1994 dated  November 8,
                    1994 and incorporated herein by reference thereto.

            (3)     Filed as an exhibit to the Registrant's  Form 10-QSB for the
                    quarter  ended  March 31,  1998 and  incorporated  herein by
                    reference thereto.

            (4)     Filed as an Exhibit to the  Company's  Form 10-QSB/a for the
                    year ended  December  31, 1997 (filed on April 22, 1998) and
                    incorporated herein by reference thereto.

     (b)  Reports on Form 8K filed during the last quarter of the period covered
          by this report:

          None.


                                       14
<PAGE>


                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following  persons on behalf of the  registrant and
in the capacities and on the dates indicated.

Date: June 15, 2000


                                              LBU, INC.

                                              By: /s/ Jeffrey Mayer
                                              ----------------------
                                               Jeffrey Mayer
                                              Chairman of the Board
                                              Chief Executive Officer, President
                                             (Principal executive and financial
                                              And accounting officer)
                                              Director



                                       15