| **UNITED STATES****SECURITIES AND EXCHANGE COMMISSION**Washington, DC 20549  **Form 10-Q                          (Mark one)
[ X ] QUARTERLY    REPORT UNDER SECTION 13 OR 15 (d) OF THE 
SECURITIES    EXCHANGE ACT OF 1934  
For the    quarterly period ended: June 30, 1992  
[  ]    TRANSITION REPORT UNDER SECTION 13 OR 15 (d) OF THE 
SECURITIES    EXCHANGE ACT OF 1934
For    the transition period from ____________ to _____________  
Commission    file number: 0-16179  **Gexa    Corp.
(Exact    name of small business issuer as specified in its charter)** **
Texas
76-0670175
(State or    other jurisdiction of incorporation or organization) 
(IRS Employer    Identification No.)  
24    Greenway Plaza, Suite 1826, Houston, TX**77046
(Address of    principal executive offices)
(Zip Code)  **(713)-961-9399
(Issuer’s    telephone number)   
Gexa    Gold Corporation
(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 Exchange Act during the past 12 months (or for such shorter period that the registrant    was required to file such report (s), and (2) has been subject to such filing requirements    for the past 90 days. Yes [ ] No [X]
APPLICABLE ONLY TO    CORPORATE ISSUERSState the number of shares outstanding of    each of the issuer’s classes of common equity, as of the latest practicable date:
Common Stock, $.01 par    value 5,866,922 shares outstanding as of September 30, 2001
Transitional Small Business    Disclosure Format: Yes __ No X** **
 

 

 

 

 

 
**TABLE    OF CONTENTS** **
**PART I. FINANCIAL    INFORMATION**
Page   Item 1. Financial Statements (Unaudited)2Item 2. Management’s Plan of Operation5  **PART II. OTHER    INFORMATION   Item 1. Legal Proceedings6Item 2. Changes in Security6Item 3. Default Upon Senior Securities6Item 4. Submission of Matters to a Vote of    Security Holders6Item 5. Other Information6Item 6. Exhibits and Reports on Form 8-K6** ****PART I FINANCIAL INFORMATION

Item 1. Financial Statements (Unaudited)**
Set forth below are the financial statements for the Company for thethree month periods ended June 30, 1992 andDecember 31, 1991.

**INDEX    TO FINANCIAL STATEMENTS**   
Page
     Balance Sheets June 30, 1992 (Unaudited) and December 31, 1991 (Restated)2
     Statement of Operations for the Three and Six-Months ended June 30, 1992 (Unaudited) and    1991 - Restated 3
     Statement of Cash Flow for the Three and Six-Months ended June 30, 1992 (Unaudited) and    1991 - Restated  4  Notes to Financial    Statements4
 

**GEXA    CORP.**
(Formerly    Gexa Gold Corporation)
Condensed    Consolidated Balance Sheets  
ASSETS
June    30, 1992
December    31, 1991  (Unaudited)(Restated)Current    Assets:      Cash and cash equivalents
$-
$385,938      Accounts receivable -        Gold-23,570        Joint Ventures-6,258        Others-549      Unleached ore and related inventory-36,097      Other-48,660        Total current assets-501,072  Property and Equipment   Mining Operations-1,115,736   Equipment-41,7431,157,749Less accumulated -(508,360)-649,119Mineral properties, net of    amortization of $1,513,495 in 1991-3,279,579     Total    Assets
$
-
$
4,429,770  
LIABILITIES    AND STOCKHOLDERS' EQUITY  Current liabilities:   Accounts payable    and accrued liabilities-1,076,964   Current portion of    long-term debt-2,489,820     Total    current liabilities-
3,566,784Long-term debt-999,153          Total liabilities-
4,565,937Stockholders' equity (deficit):   Cumulative    Convertible preferred stock, $.05 par value;    2,500,000 shares    authorized; 944,495   preferred    convertible shares issued and   outstanding at    June 30, 1992 and 944,495 at December 31, 199147,225
47,225   Common stock, $.01    par value; 75,000,000 shares    authorized;    8,504,425 shares issued and outstanding at June 30, 1992    and    8,504,425 shares issued and outstanding at December 31, 199185,04485,044   Additional paid-in    capital
2,685,512
2,685,512      Accumulated deficit
(2,817,781)
(2,953,948)     Total    stockholders' equity
-
(136,167)          Total Stockholders' Equity and Liabilities
$
-
$
4,429,770
See accompanying notes to financial statements.
 

**GEXA    CORP.**
(Formerly    Gexa Gold Corporation)
Condensed    Consolidated Statements of Operations
(Unaudited)       Three    Months Ended June 30,
Six Months Ended June 30,19921991(Restated)
1992
1991(Restated)Gold sales, net of refining    costs$-$155,224
$776,683
$642,550Cost of sales (mining    operations):   Production costs-74,149674,995642,550   Depreciation and    amortization-47,24024,803197,740   General and administrate-30,45850,00081,302-151,847749,798616,302     Gross    profit-3,37726,88526,248Exploration-48,84559,52778,653General and administrative-77,379110,976172,779-126,224170,503251,432   Loss from    operations-(122,847)(143,618)(225,184)   Other income (expenses)   Interest income-4,8552,8038,927   Gain (loss) on    sale of Equipment     and    miscellaneous-25,60324,73724,377   Forgiveness of    debt income, net252,245-252,245-   Interest expense-(83,413)0(166,796)252,245(52,955)279,955(133,492)Net income (loss)$252,245$(175,802)
$
136,167
$
(358,676)Basic net income (loss) per    share$0.72$(0.50)
$
(0.39)
$
(1.03)Diluted net income (loss) per    common share$0.65$(0.50)
$
(0.35)
$
(1.03)  Basic weighted average common   shares outstanding348,142348,142348,142348,142Diluted weighted average common       shares outstanding385,922348,142385,922348,142
See    accompanying notes to financial statements.
 

**GEXA    CORP.**
(Formerly    Gexa Gold Corporation)
Condensed    Consolidated Statements of Cash Flows
(Unaudited)   
Six    Months Ended June 30,  
1992
1991Cash Flow from Operating    activities:
(Restated)   Net income (loss)
$
136,167
$
(358,676)Adjustments to reconcile net    income (loss) to net cash provided by    (used in)    operating activities:        Depreciation and amortization26,366205,721        (Increase) decrease in accounts receivable30,377228,123        (Increase) decrease in inventory36,097109,438        (Increase) decrease in other current assets48,660(214,179)        Increase (decrease) in deferred income-150,000        Increase (decrease) in accounts payable and accrued liabilities(1,076,964)185,722          Net cash provided (used in) operating activities
(799,297)
306,149Cash flows from investing    activities:   Disposal of    equipment in bankruptcy 627,669-   Disposal of mineral    properties in bankruptcy3,363,673-   Sale of equipment-367   Purchase of    property and equipment(2,208)(28,254)   Additions to    mineral properties(84,094)(212,001)     Net    cash provided by (used in) investing activities3,905,040(239,888)Cash flows from financing    activities:   Increase in    long-term debt and accrued interest-274,511   Increase (decrease)    in advances from joint ventures-(168,690)   Repayment of    long-term debt(245,643)(60,000)   Settlement of    long-term debt in bankruptcy (3,246,038)0          Net cash provided (used in) by financing activities
(3,491,681
45,821Net increase (decrease) in cash    and cash equivalents
(385,938)
112,082Cash and cash equivalents,    beginning of period
-
29,749Cash and cash equivalents, end    of period
$
-
$
141,831Supplemental disclosure of cash    flow data:   Interest paid
$
-
$
6,872
See    accompanying notes to financial statements.
 

GEXA CORP.
(Formerly Gexa Gold Corporation)
Notes to Financial Statements
1. Basis of Presentation

The accompanying unaudited financial statements have been prepared inaccordance with generally accepted accounting principles for interim financial informationand with the instructions to Form 10-Q of the Securities and Exchange Commission.Accordingly, they do not include all of the information and footnotes required bygenerally accepted accounting principles for complete financial statements and should beread in conjunction with Notes to Financial Statements contained in the Company’sAnnual Report on Form 10-K for the year ended December 31, 1991. In the opinion ofmanagement, all adjustments (consisting of normal recurring accruals) considered necessaryfor a fair presentation have been included. Operating results for the six months endedJune 30, 1992 are not necessarily indicative of the results that may be expected for theyear ended December 31, 1992.

The preparation of financial statements in accordance with generallyaccepted accounting principles requires management to make estimates and assumptions thataffect the reported amounts of assets and liabilities and the disclosure of contingentassets and liabilities at the date of the financial statements and revenues and expensesduring the reporting period. Actual results could differ from those estimates.

2. Earnings Per Share

The basic weighted average number of shares was computed as if theFebruary 10, 2001 1 to 25 reverse stock split occurred on December 31, 1990. The dilutedweighted average number of common shares includes the conversion of the preferred stockinto common.

3. Bankruptcy

During the three months ended June 30, 1992, the Company filed forbankruptcy and disposed of all of its assets and liabilities.

Restated Financial Statements

The financial statements for 1991 were restated to adjust the number ofshares of common stock to the actual number as of January 1, 2001. There was no stockissued from December 31, 1990 through April 18, 2001.

**Item 2. Management’s Plan of Operation**

As used in this Quarterly Report, the terms "we","us", "our" and the "Company" mean Gexa Corp., a Texascorporation.We changed our name during the second quarter ended June 30, 2001 from GexaGold Corp. to Gexa Corp. We also filed a d/b/a in the State of Texas for Gexa Corp. to dobusiness under the name of Gexa Energy. This report is one of a series of reports underthe Exchange Act filed by us, for the purpose of becoming current in our reportingobligations. The disclosure contained herein refers to the time period covered under thisreport during which period we had no operating activities. We also make reference to ourQuarterly Report for the period ended June 30, 2001. That Quarterly Report containsdisclosure to our intent to enter into the business of reselling electricity which becomesa deregulated industry effective January 1, 2002. 

Forward-Looking Statements; Market Data

To the extent that we make any forward-looking statements in the"Management’s Plan of Operation" in this Quarterly Report, we emphasizethat forward-looking statements involve risks and uncertainties and our actual results maydiffer materially from those expressed or implied by our forward-looking statements. Allforward-looking statements in this Quarterly Report reflect our current views about futureevents and are based on assumptions and are subject to risks and uncertainties. Generally,forward-looking statements include phrases with words such as  "expect","anticipate", "intend", "plan", "believe","seek", "estimate" and similar expressions to identify forward-lookingstatements.

Our current activity is related to seeking new business opportunities.We will use our limited personnel and financial resources principally in connection withthe search for new business opportunities. It may be expected that starting any newbusiness opportunity will involve the issuance of our shares of Common Stock. To theextent that Common Stock is used to fund any new business opportunity, any available cash,of which there can be no assurance, will be used to finance such new business operations.There was no stock issued from December 31, 1990 through April 18, 2001. 

During the three month period ended June 30, 1992, we generated no revenues from anybusiness operations. We did not incurred any operating expenses during the three monthsended June 30, 1992. We had a non-cash income due to the forgiveness of debt of $252,245and our net income was consequently $252,245.

Liquidity and Capital Resources

During the three months ended June 30, 1992, the Companyfiled for bankruptcy and disposed all of its assets and liabilities. There can beno assurance that we will be able to continue to operate through the issuance of notes orother instruments, issuance of shares for services provided or will be able to raise fundsthrough the issuance of shares. We have no written agreement with ourCEO/chairman or with any other affiliate or unaffiliated person  to provide anycontinued funding. Our chairman is presently negotiating on our behalf with our attorneyand CR Capital Services, Inc., our corporate securities compliance firm, to be paid forservices in shares. No determination has been made regarding the amount of shares or thevalue of the services.

**PART II. OTHER INFORMATION**
**Item 1. Legal Proceedings**
None.
**Item 2. Changes in Security**
None.

**Item 3. Default 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**
(a) Exhibits:

Exhibit No. Document    Description
3(i)Articles    of Incorporation and amendments (filed as Exhibits to the Company's Registration Statement    on Form 10-12g filed on September 3, 1987 and are incorporated herein by reference)
3(ii)Bylaws    (filed as Exhibit to the Company's Registration Statement on Form 10-12g, filed on    September 3, 1987 and are incorporated herein by reference)13(i)The    Registrant's Current Report on Form 8-K filed on June 21, 2001 and November 27, 2001,    which are incorporated by reference.**(b) Form 8-K.

None.

**SIGNATURES**

In accordance with Section 13 or 15(d) of the Exchange Act, the smallbusiness issuer has caused this report to be signed on its behalf by the undersigned,thereunto duly authorized.
**Gexa Corp.
By: /s/ Marcie ZlotnikMarcie Zlotnik, President and DirectorDated: November 27, 2001Houston, Texas******************** |
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