Attached files
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
[ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended December 31, 2009
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the transition period from ________ to ________
Commission file # 000-51824
AMP PRODUCTIONS, LTD.
(Exact Name of Registrant as Specified in its Charter)
NEVADA
(State or other jurisdiction of incorporation or organization)
98-0400189
(I.R.S. Employer Identification number)
1440-3044 BLOOR STREET WEST, TORONTO, ONTARIO M8X 2Y8
(Address of principal executive offices) (zip code)
Issuer's telephone number: (647) 439-3785
Securities registered under Section 12(b) of the Act: NONE
Securities registered pursuant to Section 12(g) of the Act:
COMMON STOCK, $0.0001 PAR VALUE
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 Issuer was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days. Yes [ x ] No [ ]
Indicate by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting company. See
the definitions of "large accelerated filer," "accelerated filer" and "smaller
reporting company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer [ ] Accelerated filer [ ]
Non-accelerated filer [ ] Smaller reporting company [ X ]
Indicate by check mark whether the registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act). Yes [ ] No [X]
As of December 31, 2009 the Issuer had 9,750,000 shares of its Common Stock
outstanding.
Transitional Small Business Disclosure Format (Check one): Yes [ ] No [X]
PART I -- FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
AMP PRODUCTIONS, LTD.
(A development stage company)
Balance Sheets
December 31, 2009
(Unaudited - Prepared by Management)
(EXPRESSED IN U.S. DOLLARS)
---------------------------------------------------------------------------------------------------------
December 31, 2009 March 31, 2009
---------------------------------------------------------------------------------------------------------
ASSETS
CURRENT ASSETS
Cash and cash equivalents $ - $ 27,718
Prepaid expenses 7,500 -
---------------------------------------------------------------------------------------------------------
TOTAL ASSETS $ 7,500 $ 27,718
=========================================================================================================
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY)
LIABILITIES
CURRENT LIABILITIES
Accounts payable and accrued liabilities $ 1,779 $ 1,856
---------------------------------------------------------------------------------------------------------
TOTAL LIABILITIES 1,779 1,856
---------------------------------------------------------------------------------------------------------
STOCKHOLDERS' EQUITY
SHARE CAPITAL
Authorized:
100,000,000 common shares with a par value of $0.0001 per share
Issued and outstanding: 9,750,000 common shares 975 975
(March 31, 2009 - 9,750,000)
ADDITIONAL PAID-IN CAPITAL 166,825 166,825
(DEFICIT) ACCUMULATED DURING THE DEVELOPMENT STAGE (162,079) (141,938)
---------------------------------------------------------------------------------------------------------
TOTAL STOCKHOLDERS' EQUITY 5,721 25,862
---------------------------------------------------------------------------------------------------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 7,500 $ 27,718
=========================================================================================================
The accompanying notes are an integral part of these financial statements
AMP PRODUCTIONS, LTD.
(A development stage company)
Statements of Stockholders' Equity (Deficiency)
For the period from February 27, 2003 (inception) to December 31, 2009
(Unaudited - Prepared By Management)
(EXPRESSED IN U.S. DOLLARS)
-----------------------------------------------------------------------------------------------------------------
Deficit Total
accumulated stockholders'
Common stock Additional during equity
Shares Amount paid-in capital development stage (deficiency)
-----------------------------------------------------------------------------------------------------------------
Balance, March 31, 2005 9,750,000 $ 975 $ 166,825 $ (50,615) 117,185
-----------------------------------------------------------------------------------------------------------------
Loss and comprehensive loss for the year - - - (26,688) (26,688)
-----------------------------------------------------------------------------------------------------------------
Balance, March 31, 2006 9,750,000 $ 975 $ 166,825 $ (77,303) 90,497
-----------------------------------------------------------------------------------------------------------------
Loss and comprehensive loss for the year - - - (16,775) (16,775)
-----------------------------------------------------------------------------------------------------------------
Balance, March 31, 2007 9,750,000 $ 975 $ 166,825 $ (94,078) 73,722
-----------------------------------------------------------------------------------------------------------------
Loss and comprehensive loss for the year - - - (29,374) (29,374)
-----------------------------------------------------------------------------------------------------------------
Balance, March 31, 2008 9,750,000 $ 975 $ 166,825 $ (123,452) 44,348
-----------------------------------------------------------------------------------------------------------------
Loss and comprehensive loss for the year - - - (18,486) (18,486)
-----------------------------------------------------------------------------------------------------------------
Balance, March 31, 2009 9,750,000 $ 975 $ 166,825 $ (141,938) 25,862
-----------------------------------------------------------------------------------------------------------------
Loss and comprehensive loss for the period - - - (20,141) (20,141)
-----------------------------------------------------------------------------------------------------------------
Balance, December 31, 2009 9,750,000 $ 975 $ 166,825 $ (162,079) 5,721
=================================================================================================================
The accompanying notes are an integral part of these financial statements
AMP PRODUCTIONS, LTD.
(A development stage company)
Statement of Operations
(Unaudited - Prepared by Management)
(EXPRESSED IN U.S. DOLLARS)
---------------------------------------------------------------------------------------------------------
Cumulative
February 27
2003 Three months Nine months
(inception) to Ended ended
December 31 December 31 December 31
2009 2009 2008 2009 2008
---------------------------------------------------------------------------------------------------------
GENERAL AND ADMINISTRATIVE EXPENSES
Accounting $ 48,822 $ 923 $ 535 $ 6,429 $ 7,650
Amortization 5,220 - - - -
Bank charges 1,828 26 27 111 132
Consulting 7,350 - - - -
Interest on promissory note 87 - - - -
Legal 32,297 5,500 - 15,182 2,580
Listing and filing fees 8,236 - - - -
Office 8,563 (31) - 1,179 575
Printing 1,525 - - - -
Rent 21,412 - - - -
Transfer Expenses 827 (150) 35 370 86
Travel 2,918 - - - -
Write off literary properties 22,000 - - - -
---------------------------------------------------------------------------------------------------------
OPERATING (LOSS) (161,085) (6,268) (597) (23,271) (11,023)
---------------------------------------------------------------------------------------------------------
OTHER INCOME
Foreign exchange gain (loss) (994) - (5,580) 3,130 (5,580)
---------------------------------------------------------------------------------------------------------
NET LOSS FOR THE PERIOD $ (162,079) $ (6,268) $ (6,177) $ (20,141) $ (16,603)
BASIC AND DILUTED LOSS PER SHARE $ 0.00 $ 0.00 0.00 0.00
=========================================================================================================
WEIGHTED AVERAGE NUMBER OF
COMMON SHARES OUTSTANDING
- basic and diluted 9,750,000 9,750,000 9,750,000 9,750,000
=========================================================================================================
The accompanying notes are an integral part of these financial statements
AMP PRODUCTIONS, LTD.
(A development stage company)
Statement of Cash Flows
(Unaudited - Prepared by Management)
(EXPRESSED IN U.S. DOLLARS)
-------------------------------------------------------------------------------------------------------------
Cumulative
February 27
2003 Nine months Nine months
(inception) to ended ended
December 31 December 31 December 31
2009 2009 2008
-------------------------------------------------------------------------------------------------------------
CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES
Loss for the period $ (162,079) $ (20,141) $ (16,603)
Adjust for items not involving cash:
- amortization 5,220 - -
CHANGES IN OTHER ASSETS AND LIABILITIES:
- (increase) in prepaid expenses (7,500) (7,500) -
- increase (decrease) in accounts payable and accrued liabilities 1,779 (77) (997)
-------------------------------------------------------------------------------------------------------------
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (162,580) (27,718) (17,600)
-------------------------------------------------------------------------------------------------------------
CASH FLOWS USED IN INVESTING ACTIVITIES
Purchase equipment (5,220) - -
Options to acquire literary properties (5,000) - -
-------------------------------------------------------------------------------------------------------------
Net cash flows used in investing activities (10,220) - -
-------------------------------------------------------------------------------------------------------------
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of common stock 172,800 - -
-------------------------------------------------------------------------------------------------------------
Net cash provided by financing activities 172,800 - -
-------------------------------------------------------------------------------------------------------------
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS - (27,718) (17,600)
CASH AND CASH EQUIVALENTS, beginning of period - 27,718 45,345
-------------------------------------------------------------------------------------------------------------
CASH AND CASH EQUIVALENTS, end of period $ - $ - $ 27,745
=============================================================================================================
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest expenses paid in cash $ 387 $ - $ -
=============================================================================================================
The accompanying notes are an integral part of these financial statements
AMP PRODUCTIONS, LTD.
(A development stage company)
Notes to Financial Statements
December 31, 2009 and 2008
(EXPRESSED IN U.S. DOLLARS)
1. INCORPORATION AND CONTINUANCE OF OPERATIONS
The Company was formed on February 27, 2003 under the laws of the State of
Nevada. The Company has not commenced planned principal operations, producing
filmed entertainment. The Company is considered a development stage company as
defined in SFAS No. 7. During the year, the Company has relocated its office
from Vancouver to Toronto, Canada.
These financial statements have been prepared in accordance with U.S. generally
accepted accounting principles applicable to a going concern, which contemplates
the realization of assets and the satisfaction of liabilities and commitments in
the normal course of business. The Company has incurred operating losses and
requires additional funds to maintain its operations. Management's plans in
this regard are to raise equity financing as required.
These conditions raise substantial doubt about the Company's ability to continue
as a going concern. These financial statements do not include any adjustments
that might result from this uncertainty.
The Company has not generated any operating revenue to date.
2. SIGNIFICANT ACCOUNTING POLICIES
(a) Cash and Cash Equivalents
Cash equivalents comprise certain highly liquid instruments with a maturity of
three months or less when purchased. As of December 31, 2009 and 2008, the
Company had no cash equivalents and none of the cash and cash equivalents was
over the federally insured limit.
(b) Accounting Estimates
The preparation of financial statements in conformity with U.S. generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenues and expenses during the
reporting period. Actual results could differ from those estimates and
assumptions.
(c) Advertising Expenses
The Company expenses advertising costs as incurred. There were no advertising
expenses incurred by the Company since the inception.
(d) Loss Per Share
In accordance with ASC 260, Earnings Per Share, the basic loss per common share
is computed by dividing net loss available to common stockholders by the
weighted average number of common shares outstanding. Diluted loss per common
share is computed similar to basic loss per common share except that the
denominator is increased to include the number of additional common shares that
would be outstanding if the potential common shares had been issued and if the
additional common shares were dilutive.
(e) Concentration of Credit Risk
The Company places its cash and cash equivalents with high credit quality
financial institutions.
(f) Foreign Currency
The Company maintains its accounting records in U.S. Dollars. Monetary items
denominated in foreign currency are translated to U.S. dollars at the exchange
rate in effect at the balance sheet date. Non-monetary items are translated at
the exchange rates in effect when the assets are acquired or obligations
incurred. Revenues and expenses are translated at the exchange rates in effect
at the time of the transactions. Foreign exchange gains and losses are included
in the statement of operations.
2. SIGNIFICANT ACCOUNTING POLICIES (continued)
(g) Fair Value of Financial Instruments
The Company's financial instruments as defined by FASB Accounting Standards
Codification ("ASC") 825, Financial Instruments, include cash and cash
equivalents, accounts payable and accrued liabilities. Fair values were assumed
to approximate carrying values for these financial instruments, except where
noted, since they are short term in nature and their carrying amounts
approximate fair values or they are payable on demand. Management is of the
opinion that the Company is not exposed to significant interest or credit risks
arising from these financial instruments. The Company is operating outside the
United States of America and has significant exposure to foreign currency risk
due to the fluctuation of currency in which the Company operates and the U.S.
dollar.
(h) Financial instruments and concentration of risks
Fair value of financial instruments is made at a specific point in time, based
on relevant information about financial markets and specific financial
instruments. As these estimates are subjective in nature, involving
uncertainties and matters of significant judgment, they cannot be determined
with precision. Changes in assumptions can significantly affect estimated fair
values.
(i) Income Taxes
The Company has adopted ASC 740, Income Taxes, which recognizes deferred tax
liabilities and assets for the expected future tax consequences of events that
have been recognized in the Company's financial statements or tax returns using
the liability method. Under this method, deferred tax liabilities and assets
are determined based on the temporary difference between the financial statement
and tax bases of assets and liabilities using enacted tax rates in effect in the
years in which the differences are expected to reverse. A valuation allowance
is provided for the portion of deferred tax assets that is more likely than not
to be unrealized.
(j) Stock-Based Compensation
The Company adopted ASC 718, Compensation - Stock-Based Compensation, to account
for its stock options and similar equity instruments issued. Accordingly,
compensation costs attributable to stock options or similar equity instruments
granted are measured at the fair value at the grant date, and expensed over the
expected vesting period.
The Company did not grant any stock options since its inception.
(k) Comprehensive Income
The Company adopted ASC 220, Comprehensive Income, which establishes standards
for reporting and display of comprehensive income, its components and
accumulated balances. The Company is disclosing this information on its
Statement of Stockholders' Equity. Comprehensive income comprises equity except
those resulting from investments by owners and distributions to owners. The
Company has no elements of "other comprehensive income" since its inception.
(l) Equipment
Equipment consists of computer equipment, which is stated at cost and is
depreciated under the straight-line method over the estimated useful lives of
the asset. Expenditures for betterments and additions are capitalized, while
replacement, maintenance and repairs, which do not extend the lives of the
respective assets, are charged to expense when incurred.
(m) Long-Lived Assets Impairment
Long-lived assets of the Company are reviewed for impairment whenever events or
circumstances indicate that the carrying amount of assets may not be
recoverable, pursuant to guidance established in ASC 360, Property, Plant and
Equipment. Management considers assets to be impaired if the carrying value
exceeds the future projected cash flows from the related operations
(undiscounted and without interest charges). If impairment is deemed to exist,
the assets will be written down to fair value.
2. SIGNIFICANT ACCOUNTING POLICIES (continued)
(n) Film costs
Film costs (Option to acquire literary properties and production in progress),
including acquisition and development costs, are deferred and amortized by the
individual-film-forecast-computation method as required by Statement of
Financial Standards No. 139. The method amortizes or accrues film costs as the
ratio of current period actual revenue to estimated remaining unrecognized
ultimate revenue (as of the beginning of the current fiscal year). As at
December 31, 2009, the film acquisition and development costs is $Nil (December
31, 2008: $Nil)
(o) Newly Adopted Accounting Pronouncements and New Accounting
Pronouncements
In June 2009, the FASB issued a standard that established the FASB Accounting
Standards Codification ("ASC") which mended hierarchy of generally accepted
accounting principles ("GAAP") such that the ASC became the single source of
authoritative nongovernmental US GAAP. The ASC did not change current US GAAP,
but was intended to simplify user access to all authoritative US GAAP by
providing all the authoritative literature related to a particular topic in one
place. All previously existing accounting standard documents were superseded
and all other accounting literature not included in the ASC is considered
non-authoritative. New accounting standards issued subsequent to June 30, 2009
are communicated by the FASB through Accounting Standards Updates. The ASC was
effective for the Company on October 1, 2009. This standard did not have an
impact on our financial statements.
In December 2007, the Financial Accounting Standards Board ("FASB") issued ASC
810-10-65 (prior authoritative literature: SFAS 160, Non-controlling Interests
in Consolidated Financial Statements - An amendment of ARB No. 51). ASC
810-10-65 requires companies with non controlling interests to disclose such
interests clearly as a portion of equity but separate from the parent's equity.
The non controlling interest's portion of net income must also be clearly
presented on the Income Statement. This ASC was effective for the Company on
April 1, 2009. The adoption of this statement did not have a material effect on
the Company's financial position or results of operations.
In March 2008, FASB issued ASC 815-10 (prior authoritative literature: SFAS 161,
Disclosures about Derivative Instruments and Hedging Activities-an amendment of
FASB Statement No. 133). ASC 815-10 requires enhanced disclosures about an
entity's derivative and hedging activities. ASC 815-10 is effective for
financial statements issued for fiscal years and interim periods beginning after
November 15, 2008 with early application encouraged. The Company adopted ASC
815-10 on April 1, 2009. The adoption of this ASC did not have a material impact
on the Company's financial position or results of operations.
In April 2008, the FASB issued FSP FAS No. 142-3, Determination of the Useful
Life of Intangible Assets , as codified in ASC subtopic 350-30, Intangibles -
Goodwill and Other: General Intangibles Other than Goodwill (ASC 350-30) and ASC
topic 275, Risks and Uncertainties (ASC 275), which amends the factors that must
be considered in developing renewal or extension assumptions used to determine
the useful life over which to amortize the cost of a recognized intangible asset
under SFAS No. 142, Goodwill and Other Intangible Assets , as codified in ASC
topic 350, Intangibles Goodwill and Other (ASC 350). ASC 350-30 requires an
entity to consider its own assumptions about renewal or extension of the term of
the arrangement, consistent with its expected use of the asset, and is an
attempt to improve consistency between the useful life of a recognized
intangible asset under ASC 350 and the period of expected cash flows used to
measure the fair value of the asset under ASC 805, Business Combinations. The
Company adopted ASC 350-30 on September 1, 2009. The adoption of ASC 350-30 did
not have a material impact on the Company's financial position or results of
operations.
In May 2008, FASB issued ASC 470, Debt. ASC 470 specifies that issuers of
convertible debt instruments that may be settled in cash upon conversion
(including partial cash settlement) should separately account for the liability
and equity components in a manner that will reflect the entity's nonconvertible
debt borrowing rate when interest cost is recognized in subsequent periods. We
have adopted ASC 470 on September 1, 2009, and this standard was applied on a
retrospective basis. The adoption of this statement did not have a material
effect on the Company's financial statements.
2. SIGNIFICANT ACCOUNTING POLICIES (continued)
(o) Newly Adopted Accounting Pronouncements and New Accounting
Pronouncements
In April, 2009, the FASB issued ASC subtopic 820-10 (formerly Staff Position No.
FAS 157-4, Determining Fair Value When the Volume and Level of Activity for the
Asset or Liability Have Significantly Decreased and Identifying Transactions
That Are Not Orderly). ASC 820-10 provides additional guidance for estimating
fair value when the volume and level of activity for the asset or liability have
significantly decreased. This ASC subtopic also includes guidance on identifying
circumstances that indicate a transaction is not orderly. The adoption of ASC
820-10 will not have a material impact on the Company's financial statements.
In April, 2009, the FASB issued ASC 820-10-50 (formerly Staff Position No. FAS
107-1 and APB 28-1, Interim Disclosures about Fair Value of Financial
Instruments) that expands to interim periods the existing annual requirement to
disclose the fair value of financial instruments that are not reflected on the
balance sheet at fair value. The new guidance could potentially require
additional disclosures in interim periods after the Company's fiscal year ending
2010. Adoption of this FSP will not have a material impact on the Company's
financial statements.
On April 1, 2009, the FASB issued ASC 320-10-65 (formerly Staff Position No. FSP
FAS 115-2 and FAS 124-2, Recognition and Presentation of Other-Than-Temporary
Impairments). ASC 320-10-65 amends the other-than-temporary impairment guidance
in U.S. GAAP for debt securities to make the guidance more operational and to
improve the presentation and disclosure of other-than-temporary impairments on
debt and equity securities in the financial statements. ASC 320-10-65 does not
amend existing recognition and measurement guidance related to
other-than-temporary impairments of equity securities. The Company adopted ASC
320-10-65 on October 1, 2009. The adoption of this FSP did not have a material
impact on the Company's financial statements.
In June 2009, the FASB issued ASC 860, Transfers and Servicing. ASC 860
requires more information about transfers of financial assets, including
securitization transactions, and where entities have continuing exposure to the
risks related to transferred financial assets. It eliminates the concept of a
"qualifying special-purpose entity," changes the requirements for derecognizing
financial assets, and requires additional disclosures. It also enhances
information reported to users of financial statements by providing greater
transparency about transfers of financial assets and an entity's continuing
involvement in transferred financial assets. ASC 860 is effective for fiscal
years beginning after November 15, 2009.
Other accounting standards that have been issued or proposed by the FASB or
other standards-setting bodies that do not require adoption until a future date
are not expected to have a material impact on the Company's financial statements
upon adoption.
2. RELATED PARTY TRANSACTIONS
Included in accounts payable and accrued liabilities, $792 (March 31, 2009:
$1,065) is payable to a company controlled by the Director of the Company for
normal operation expenses.
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS
FINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES
FINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES.
We were incorporated for the purpose of developing, producing, marketing, and
distributing low-budget feature-length films to movie theaters and ancillary
markets. Since inception, we have earned no revenue, and have suffered
recurring losses and net cash outflows from operations. We expect to continue
to incur substantial losses to complete the development of our business. We
have funded operations through common stock issuances and unrelated third party
loans in order to meet our strategic objectives. We have not established any
other source of equity or debt financing. There can be no assurance that we
will be able to obtain sufficient funds to continue the development and
pre-production of motion pictures, or that we will be able to produce and sell
our motion pictures. As a result of the foregoing, our auditors have expressed
substantial doubt about our ability to continue as a going concern.
As of December 31, 2009, we had total assets of $7,500 comprised entirely of
prepaid expenses. This is a decrease from $27,718 in total assets as of March
31, 2009, attributable to professional fees, office expenses and foreign
exchange gain.
As of December 31, 2009, our total liabilities decreased to $1,779 from $1,856
as of March 31, 2009, primarily due a reduction in accounts payable.
We have not generated revenue since the date of inception. We do not presently
have sufficient working capital to satisfy our cash requirements for the next 12
months of operations.
RESULTS OF OPERATIONS.
We posted an operating loss of $6,268 for the three months period ended December
31, 2009, due primarily to operating expenses, professional fees and foreign
exchange gain. This was an increase from the operating loss of $597 for the
same period in fiscal 2009.
ITEM 4. CONTROLS AND PROCEDURES
As required by Rule 13a-15 under the Securities Exchange Act of 1934, as of the
end of the period covered by the quarterly report, being December 31, 2009, we
have carried out an evaluation of the effectiveness of the design and operation
of our company's disclosure controls and procedures. This evaluation was carried
out under the supervision and with the participation of our company's
management, including our company's president. Based upon that evaluation, our
company's president concluded that our company's disclosure controls and
procedures are effective as at the end of the period covered by this report.
There have been no significant changes in our internal controls over financial
reporting that occurred during our most recent fiscal quarter that have
materially affected, or are reasonably likely to materially affect our internal
controls over financial reporting.
Disclosure controls and procedures and other procedures that are designed to
ensure that information required to be disclosed in our reports filed or
submitted under the Securities Exchange Act of 1934 is recorded, processed,
summarized and reported, within the time period specified in the Securities and
Exchange Commission's rules and forms. Disclosure controls and procedures
include, without limitation, controls and procedures designed to ensure that
information required to be disclosed in our reports filed under the Securities
Exchange Act of 1934 is accumulated and communicated to management, including
our president and secretary as appropriate, to allow timely decisions regarding
required disclosure.
PART II. OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
The Company is not a party to any material legal proceedings and to its
knowledge, no such proceedings are threatened or contemplated.
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
At present, our common stock is quoted on the OTC bulletin board under the
symbol "AMPC".
On December 31, 2009, the shareholders' list of our shares of common stock
showed 32 registered holders of our shares of common stock and 9,750,000 shares
of common stock outstanding. The number of record holders was determined from
the records of our transfer agent and does not include beneficial owners of
shares of common stock whose shares are held in the names of various security
brokers, dealers, and registered clearing agencies.
DIVIDEND POLICY
Our Board of Directors may declare and pay dividends on outstanding shares of
common stock out of funds legally available there for in our sole discretion;
however, to date no dividends have been paid on common stock and we do not
anticipate the payment of dividends in the foreseeable future.
ITEM 3. DEFAULT UPON SENIOR NOTES
Not applicable.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
None.
ITEM 5. OTHER INFORMATION
None.
ITEM 6. EXHIBITS
(A) EXHIBIT DESCRIPTION
31.1 Certification pursuant to Rule 13a-14(a)/15d-14(a) of the Securities
Exchange Act, as amended
32.1 Certification pursuant to 18 U.S.C. 1350
SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
AMP PRODUCTIONS, LTD.
Date: February 12, 2010 /s/ Thomas Mills
Thomas E. Mills
President, Chief Executive Officer,
Chief Financial Officer, and
Principal Accounting Office
