This Quarterly Report on Form 10-Q includes forward-looking statements. We have
based these forward-looking statements on our current expectations and
projections about future events. These forward-looking statements are subject to
known and unknown risks, uncertainties and assumptions about us that may cause
our actual results, levels of activity, performance or achievements to be
materially different from any future results, levels of activity, performance or
achievements expressed or implied by such forward-looking statements. In some
cases, you can identify forward-looking statements by terminology such as "may,"
"should," "could," "would," "expect," "plan," "anticipate," "believe,"
"estimate," "continue," or the negative of such terms or other similar
expressions. Factors that might cause or contribute to such a discrepancy
include, but are not limited to, those described under "Risk Factors" in our
Form 10-K for the fiscal year ended
Overview
Our business model was to buy nutrition and dietary products from different manufacturers and resell those products under our private label. Our source of revenue from operations was to be reselling nutrition and dietary supply products. The line of nutrition and dietary products that we intended to market was to be standard non-proprietary supplements and other products that contained our label. Currently, we have not yet initiated any product development efforts nor generated any revenue to date.
The Company is seeking to acquire, through a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, exchangeable share transaction or other similar business transaction with one or more operating businesses or assets that we have not yet identified (a "Business Transaction").
Operating Expenses
During the three months ended
During the nine months ended
Going Concern
The Company does not currently engage in any business activities that provide cash flow. During the next 12 months, we anticipate incurring costs related to:
? filing of Exchange Act reports, ? payment of annual corporate fees, and ? investigating, analyzing and consummating an acquisition.
Management anticipates that fees associated with the foregoing activities,
including accounting fees and legal fees, will not exceed
As of
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Management intends to search for a Business Transaction by contacting various sources including, but not limited to, our affiliates, lenders, investment banking firms, private equity funds, consultants and attorneys and does not plan to conduct a complete and exhaustive investigation and analysis of a business opportunity. We do not currently intend to retain any entity to act as a "finder" to identify and analyze the merits of potential Business Transaction.
We may not have sufficient funds to conduct an exhaustive due diligence
evaluation of a potential target business. Management's decisions, therefore,
will likely be made without detailed feasibility studies, independent analysis,
market surveys and the like which, if we had more funds, would be desirable. If
management identifies a suitable target company, we will have to budget for
additional fees relating to the investigation into the target company (including
due diligence) and consummating the Business Transaction, which may cost between
A potentially available Business Transaction may occur in many different industries and at various stages of development, all of which will make the task of comparative investigation and analysis of such business opportunities extremely difficult and complex. The Company may consider a business which has recently commenced operations, is a developing company in need of additional funds for expansion into new products or markets, is seeking to develop a new product or service, or is an established business which may be experiencing financial or operating difficulties and is in need of additional capital. In the alternative, a business combination may involve the acquisition of, or merger with, a company which does not need substantial additional capital, but which desires to establish a public trading market for its shares, while avoiding, among other things, the time delays, significant expense, and loss of voting control which may occur in a public offering.
Any target business that is selected may be a financially unstable company or an entity in its early stages of development or growth, including entities without established records of sales or earnings. In that event, we will be subject to numerous risks inherent in the business and operations of financially unstable and early stage or potential emerging growth companies. In addition, we may affect a business combination with an entity in an industry characterized by a high level of risk, and, although our management will endeavor to evaluate the risks inherent in a particular target business, there can be no assurance that we will properly ascertain or assess all significant risks.
Our management anticipates that we will likely be able to effect only one business combination, due primarily to our limited financing and the dilution of interest for present and prospective stockholders, which is likely to occur as a result of our management's plan to offer a controlling interest to a target business in order to achieve a tax-free reorganization.
The Company anticipates that the selection of a business combination will be
complex and extremely risky. Potential targets include firms seeking either the
benefits of a Business Transaction with an
In identifying, evaluating and selecting a target business, we may encounter
intense competition from other entities having a business objective similar to
ours. There are numerous blank check companies that have gone public in
Liquidity and Capital Resources
As of
Stockholders' equity decreased from
Cash Flows from Operating Activities
We have not generated positive cash flows from operating activities. For the
nine months ended
Cash Flows from Financing Activities
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We have financed our operations primarily from either advancements or the
issuance of equity and debt instruments. For the nine months ended
We suffered recurring losses from operations and have an accumulated deficit of
Off-Balance Sheet Arrangements
We have not entered into any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources and would be considered material to investors.
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