EZRAIDER CO. Forward-Looking Statements
Except for historical information, this report contains forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Such forward-looking
statements involve risks and uncertainties, including, among other things,
statements regarding our business strategy, future revenues and anticipated
costs and expenses. Such forward-looking statements include, among others,
those statements including the words "expects," "anticipates," "intends,"
"believes" and similar language. Our actual results may differ significantly
from those projected in the forward-looking statements. Factors that might
cause or contribute to such differences include, but are not limited to, those
discussed herein. You should carefully review the risks described herein and in
other documents we file from time to time with the
Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements.
All references in this Form 10-Q to the "Company," "we," "us," or "our" are to
General Overview
We were organized in the
Going forward, we intend to seek, investigate and, if such investigation warrants, engage in a business combination with a private entity whose business presents an opportunity for our shareholders. No specific assets or businesses have been definitively identified and there is no certainty that any such assets or business will be identified or that any transactions will be consummated.
See Part I, Item 1, "Business" and Part I, Item 1A, "Risk Factors," in our
Annual Report for the fiscal year ended
On
On
During the next 12 months, we anticipate incurring costs related to filing of Exchange Act reports, and possible costs relating to consummating an acquisition or combination.
We have a history of operating losses and negative cash flow. These conditions
raise substantial doubt about our ability to meet all of our obligations over
the twelve months following the filing of this Form 10-
- 10 -
--------------------------------------------------------------------------------Critical Accounting Policies
Our financial statements have been prepared in conformity with accounting
principles generally accepted in
Our ability to continue our operations as a going concern, realize the carrying value of our assets, and discharge our liabilities in the normal course of business is dependent upon our ability to raise capital sufficient to fund our commitments and ongoing losses, and ultimately generate profitable operations.
Recent Accounting Pronouncements
We have reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe the future adoptions of any such pronouncements may be expected to cause a material impact on our financial condition or the results of operations.
Results of Operations
Three-Month Period Ended
Revenues and Other Income
During the three-month periods ended
Expenses
Operating expenses, consisting entirely of general and administrative expenses
(including professional fees) totaled
Net Losses
As a result of the foregoing, we incurred a net loss of
Six-Month Period Ended
Revenues and Other Income
During the six-month periods ended
Expenses
Operating expenses, consisting entirely of general and administrative expenses
(including professional fees) totaled
Net Losses
As a result of the foregoing, we incurred a net loss of
- 11 -
--------------------------------------------------------------------------------Liquidity and Capital Resources
As of the date of this report, we had yet to generate any revenues from our
business operations. For the period ended
As of
To date, we have managed to keep our monthly cash flow requirement low for two reasons. First, our sole officer does not draw a salary at this time. Second, we have been able to keep our operating expenses to a minimum by operating in space provided at no expense by one of our shareholders.
We currently have no external sources of liquidity such as arrangements with credit institutions or off-balance sheet arrangements that will have or are reasonably likely to have a current or future effect on our financial condition or immediate access to capital.
Our sole director and officer has made no commitments written or oral, with respect to providing a source of liquidity in the form of cash advances, loans and/or financial guarantees.
In the three and six-month periods ended
We expect that we will need to raise funds in order to effectuate our business plan. We anticipate that we will need to seek financing through means such as borrowings from institutions or private individuals. There can be no assurance that we will be able to raise such funds. If we are unsuccessful at raising sufficient funds, for whatever reason, to fund our operations, we may be forced to seek a buyer for our business or another entity with which we could create a joint venture. If all of these alternatives fail, we expect that we will be required to seek protection from creditors under applicable bankruptcy laws.
We have a history of operating losses and negative cash flow. These conditions
raise substantial doubt about our ability to meet all of our obligations over
the twelve months following the filing of this Form 10-
Our ability to continue as a going concern is dependent on our ability to implement our business plan, raise capital and generate revenues. See Note 2 of our financial statements.
Off-Balance Sheet Arrangements
We have never entered into any off-balance sheet financing arrangements and have not formed any special purpose entities. We have not guaranteed any debt or commitments of other entities or entered into any options on non-financial assets.
Contractual Obligations
None.
© Edgar Online, source
