As of September 30, 2008, we had $8,517 in cash for a total assets of $8,517. In addition,
the Company had an accrued payables of $33,060 and amount due to a director of $19,648 for
a total liabilities of $52,708 at September 30, 2008.
During the year ended September 30,
2008 the Company filed a SB-2 Registration Statement with the United States Securities and
Exchange Commission to register 3,500,000 shares of common stock for sale by the Company
at $0.02 per share for gross proceeds of $70,000. In additional, the Company registered
380,000 shares of commons stock held by existing shareholders for resale at $0.02 per
share. The Company will not receive any proceeds with respect to the resale of shares held
by existing shareholders. This SB-2 registration statement became effective on December
28, 2007. On May 14, 2008, the Company closed an offering to sell 3,500,000 shares common
stock at $0.02 per share under the Form SB-2 registration statement (no. 333-146727).
Under the aforesaid registration statement, a total of 208,000 shares were sold by the
Company at a price of $0.02 per share. The Company received a total proceeds of $4,160
from this Offering
We do not have sufficient resources
to effectuate our business. We expect to incur a minimum of $20,000 in expenses during the
next twelve months of operations. We estimate that this will be comprised of the following
expenses: $3,000 in website development; $9,000 in other marketing expenses; and $8,000
will be needed for general overhead expenses such as for salaries, corporate legal and
accounting fees, office overhead and general working capital.
Our auditors have indicated that we
will have to raise the funds to pay for these expenses. We may have to borrow money from
shareholders. There can be no assurance that additional capital will be available to us.
We currently have no agreements, arrangements or understanding with any person to obtain
funds through bank loans, lines of credit or any other sources. Since we have no such
arrangements or plans currently in effect, our inability to raise funds for a marketing
program will have a severe negative impact on our ability to remain a viable company.