x
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QUARTERLY
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
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o
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TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF
1934
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Nevada
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92-0189305
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(State
or other jurisdiction of
incorporation
or organization)
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(I.R.S.
Employer
Identification
No.)
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Page
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PART
I
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ITEM
1.
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Financial
Statements
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F-1
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ITEM
2.
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Management's
Discussion and Analysis of Financial Condition and Results of
Operations
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11
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ITEM
3.
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Quantitative
and Qualitative Disclosures about Market Risk
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13
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ITEM
4.
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Controls
and Procedures
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14
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ITEM
4T.
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Controls
and Procedures
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PART
II
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ITEM
1.
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Legal
Proceedings
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15
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ITEM 1A.
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Risk
Factors
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15
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ITEM
2.
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Unregistered
Sales of Equity Securities and Use of Proceeds
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15
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ITEM
3.
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Defaults
Upon Senior Securities
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15
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ITEM
4.
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Submission
of Matters to a Vote of Security Holders
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15
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ITEM
5.
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Other
Information
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15
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ITEM
6.
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Exhibits
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15
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Signatures |
·
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dependence
on key personnel;
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·
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competitive
factors;
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·
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degree
of success of research and development
programs
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·
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the
operation of our business; and
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·
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general
economic conditions in the United States and
Israel.
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Financial
Statements-
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Balance
Sheets as of March 31, 2010 and December 31, 2009
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F-2
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Statements
of Operations for the Three Months Ended March 31, 2010 and
2009
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and
Cumulative from Inception
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F-3
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Statement
of Stockholders’ Equity for the Period from Inception
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Through
March 31, 2010
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F-4
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Statements
of Cash Flows for the Three Months Ended March 31, 2010 and
2009
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and
Cumulative from Inception
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F-5
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Notes
to Financial Statements
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F-6
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ASSETS
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||||||||
As
of
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As
of
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|||||||
March
31,
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December
31,
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|||||||
2010
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2009
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|||||||
(Unaudited)
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(Audited)
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|||||||
Current
Assets:
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||||||||
Cash
in bank
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$ | 6,441 | $ | 6,500 | ||||
Prepaid
expenses
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- | 156 | ||||||
Total
current assets
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6,441 | 6,656 | ||||||
Total
Assets
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$ | 6,441 | $ | 6,656 | ||||
LIABILITIES AND STOCKHOLDERS'
EQUITY
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||||||||
Current
Liabilities:
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Accounts
payable
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$ | 1,130 | $ | 2,225 | ||||
Accrued
liabilities
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2,250 | 5,650 | ||||||
Due
to shareholder
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56,652 | 39,857 | ||||||
Total
current liabilities
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60,032 | 47,732 | ||||||
Total
liabilities
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60,032 | 47,732 | ||||||
Commitments
and Contingencies
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- | - | ||||||
Stockholders'
Equity (Deficit):
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||||||||
Preferred
stock, par value $0.001 per share, 5,000,000 shares
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authorized;
no shares issued and outstanding
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- | - | ||||||
Common
stock, par value $0.001 per share, 100,000,000 shares
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||||||||
authorized;
7,583,334 shares issued and outstanding
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7,583 | 7,583 | ||||||
Additional
paid-in capital
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64,917 | 64,917 | ||||||
Paid
stock subscription
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- | - | ||||||
(Deficit)
accumulated during development stage
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(126,091 | ) | (113,576 | ) | ||||
Total
stockholders' equity (deficit)
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(53,591 | ) | (41,076 | ) | ||||
Total
Liabilities and Stockholders' Equity (Deficit)
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$ | 6,441 | $ | 6,656 | ||||
Three
Months
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Three
Months
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|||||||||||
Ended
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Ended
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Cumulative
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||||||||||
March
31,
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March
31,
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From
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||||||||||
2010
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2009
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Inception
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||||||||||
(Unaudited)
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(Unaudited)
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(Unaudited)
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||||||||||
Revenues
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$ | - | $ | - | $ | - | ||||||
Expenses:
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||||||||||||
General
and administrative-
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||||||||||||
Professional
fees
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10,911 | 3,975 | 110,081 | |||||||||
Filing
fees
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1,545 | 579 | 6,135 | |||||||||
Officers'
compensation paid by issued shares
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- | - | 4,750 | |||||||||
Organization
costs
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- | - | 488 | |||||||||
Travel
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3,419 | |||||||||||
Other
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59 | 57 | 1,218 | |||||||||
Total
general and administrative expenses
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12,515 | 4,611 | 126,091 | |||||||||
- | ||||||||||||
(Loss)
from Operations
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(12,515 | ) | (4,611 | ) | (126,091 | ) | ||||||
Other
Income (Expense)
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- | - | - | |||||||||
Provision
for Income Taxes
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- | - | - | |||||||||
Net
(Loss)
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$ | (12,515 | ) | $ | (4,611 | ) | $ | (126,091 | ) | |||
(Loss)
Per Common Share:
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(Loss)
per common share - Basic and Diluted
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$ | (0.00 | ) | $ | (0.00 | ) | ||||||
Weighted
Average Number of Common Shares
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Outstanding
- Basic and Diluted
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7,583,334 | 6,758,242 | ||||||||||
Common
stock
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Additional
Paid-in
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Paid
Stock
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(Deficit)
Accumulated
During
the
Development
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Description
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Shares
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Amount
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Capital
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Subscriptions
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Stage
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Totals
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Balance
at inception
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- | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||||
Common
stock issued for officers' compensation
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4,750,000 | 4,750 | - | - | - | 4,750 | ||||||||||||||||||
Payment
for stock subscriptions
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- | - | - | 1,000 | - | 1,000 | ||||||||||||||||||
Common
stock issued for cash
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1,250,000 | 1,250 | 24,000 | - | - | 25,250 | ||||||||||||||||||
Net
(loss) for the year
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- | - | - | - | (25,798 | ) | (25,798 | ) | ||||||||||||||||
Balance
- December 31, 2007
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6,000,000 | $ | 6,000 | $ | 24,000 | $ | 1,000 | $ | (25,798 | ) | $ | 5,202 | ||||||||||||
Common
stock issued for cash
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1,000,000 | 1,000 | 24,000 | (1,000 | ) | - | 24,000 | |||||||||||||||||
Net
(loss) for the year
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- | - | - | - | (28,511 | ) | (28,511 | ) | ||||||||||||||||
Balance
- December 31, 2008
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7,000,000 | $ | 7,000 | $ | 48,000 | $ | - | $ | (54,309 | ) | $ | 691 | ||||||||||||
Common
Stock Issued for Cash
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583,334 | 583 | 16,917 | 17,500 | ||||||||||||||||||||
Net
(loss) for the period
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- | - | - | - | (59,267 | ) | (59,267 | ) | ||||||||||||||||
Balance
- December 31, 2009
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7,583,334 | 7,583 | 64,917 | - | (113,576 | ) | (41,076 | ) | ||||||||||||||||
Net
(loss) for the period
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(12,515 | ) | (12,515 | ) | ||||||||||||||||||||
Balance
- March 31, 2010
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7,583,334 | 7,583 | 64,917 | - | (126,091 | ) | (53,591 | ) | ||||||||||||||||
Three
Months
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Three
Months
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|||||||||||
Ended
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Ended
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Cumulative
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March
31,
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March
31,
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From
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2010
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2009
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Inception
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(Unaudited)
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(Unaudited)
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(Unaudited)
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Operating
Activities:
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Net
(loss)
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$ | (12,515 | ) | $ | (4,611 | ) | $ | (126,091 | ) | |||
Adjustments
to reconcile net (loss) to net cash
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provided by operating activities:
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Common
stock issued for officers' compensation
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- | - | 4,750 | |||||||||
Changes
in net assets and liabilities-
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Prepaid
expenses
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156 | 287 | - | |||||||||
Accounts
payable
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(1,095 | ) | 2,766 | 1,130 | ||||||||
Accrued
liabilities
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(3,400 | ) | - | 2,250 | ||||||||
Net
Cash Used in Operating Activities
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(16,854 | ) | (1,558 | ) | (117,961 | ) | ||||||
Investing
Activities:
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Cash
provided by investing activities
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- | - | - | |||||||||
Net
Cash Provided by Investing Activities
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- | - | - | |||||||||
Financing
Activities:
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Loan
from shareholder
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16,795 | 1,500 | 56,652 | |||||||||
Issuance
of common stock for cash
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- | - | 67,750 | |||||||||
Net
Cash Provided by Financing Activities
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16,795 | 1,500 | 124,402 | |||||||||
Net
(Decrease) Increase in Cash
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(59 | ) | (58 | ) | 6,441 | |||||||
Cash
- Beginning of Period
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6,500 | 6,354 | - | |||||||||
Cash
- End of Period
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$ | 6,441 | $ | 6,296 | $ | 6,441 | ||||||
Supplemental
disclosure of cash flow information:
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Cash
paid during the period for:
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Interest
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$ | - | $ | - | $ | - | ||||||
Income
taxes
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$ | - | $ | - | $ | - | ||||||
2010
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2009
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Current
Tax Provision:
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Federal-
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Taxable
income
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$ | - | $ | - | ||||
Total
current tax provision
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$ | - | $ | - | ||||
Deferred
Tax Provision:
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Federal-
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Loss
carryforwards
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$ | 2,878 | $ | 1,061 | ||||
Change
in valuation allowance
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(2,878 | ) | (1,061 | ) | ||||
Total
deferred tax provision
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$ | - | $ | - |
2010
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2009
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Loss
carryforwards
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$ | 29,001 | $ | 26,122 | ||||
Less
- valuation allowance
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(29,001 | ) | (26,122 | ) | ||||
Total
net deferred tax assets
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$ | - | $ | - |
Controls
and Procedures
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Exhibit
Number
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Exhibit
Description
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3.1
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-
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Certificate
of Incorporation.*
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3.2
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-
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Bylaws.*
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31
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-
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Rule
13a-14(a)/15d-14(a) Certification of Principal Executive and Financial
Officer
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32
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-
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Section
1350 Certification of Principal Executive and Financial
Officer
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By:
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/s/
Nehemya Hesin
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Nehemya
Hesin
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Title:
President, Treasurer and Director
(Principal Executive Officer, Principal Financing Officer
and Principal Accounting Officer)
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