Empowered Products, Inc. - FORM 10-Q

Attached files

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EX-31 - CERTIFICATION OF PRINCIPAL EXECUTIVE AND FINANCIAL OFFICER REQUIRED BY RULE 13A-14(A) OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED, AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 - Empowered Products, Inc.	otfex31.htm
EX-3.1 - CERTIFICATE OF CHANGE - Empowered Products, Inc.	otfex310.htm
EX-32 - CERTIFICATION OF PRINCIPAL EXECUTIVE AND FINANCIAL OFFICER, PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 - Empowered Products, Inc.	otfex32.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

x	QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934: For the quarterly period ended March 31, 2011

o	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934: For the transition period from ____to____

Commission File Number: 333-165917

On Time Filings, Inc.

(Exact name of registrant as specified in its charter)

Nevada	27-0579647
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

260 Newport Center Drive, Suite 100, Newport Beach, CA 92660

(Address of principal executive offices) (Zip Code)

(888) 405-9790
(Registrant’s telephone number, including area code)

Indicate by check mark whether the issuer (1) has 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 registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. x Yes o No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). oYes oNo

Indicate by check mark whether the registrant is a large accelerated file, 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	o		Accelerated filer	o
Non-accelerated filer	o	(Do not check if a smaller reporting company)	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). o Yes x No

As of May 12, 2011, there were 5,539,974 shares of the issuer's $.001 par value common stock issued and outstanding.

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements.

TABLE OF CONTENTS

Balance Sheets	3

Statements of Operations	4

Statement of Changes in Stockholders’ Equity	5

Statements of Cash Flows	6

Notes to Financial Statements	7

ON TIME FILINGS, INC.

BALANCE SHEETS

ASSETS

		March 31, 2011 (Unaudited)		December 31, 2010
Current assets
Cash	$	25,169	$	14,440
Accounts receivable		39,421		28,285
Prepaid expenses		9,092		11,592

Total current assets		73,682		54,317

Property and equipment, net of $389 and $290 accumulated depreciation, respectively		1,090		1,189

Total assets	$	74,772	$	55,506

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities
Accounts payable and accrued expenses	$	37,828	$	22,960
Income taxes payable		1,200		-

Total current liabilities		39,028		22,960

Stockholders’ equity
Preferred stock, $0.001 par value per share, 5,000,000 shares authorized, -0- shares issued and outstanding		-		-
Common stock, $0.001 par value; 50,000,000 shares authorized, 5,539,974 and 5,539,974 shares issued and outstanding, respectively		5,540		5,540
Additional paid-in capital		28,637		27,587
Retained earnings (accumulated deficit)		1,567		(581)

Total stockholders’ equity		35,744		32,546

Total liabilities and stockholders’ equity	$	74,772	$	55,506

ON TIME FILINGS, INC.

STATEMENTS OF INCOME

(UNAUDITED)

	For the Three Months Ended March 31, 2011		For the Three Months Ended March 31, 2010		For the Period from Inception (July 10, 2009) through March 31, 2011

Net revenues	$	33,837	$	15,377	$	126,490

Cost of revenues		1,200		3,388		26,488

Gross profit		32,637		11,989		100,002

Operating expenses
Legal and professional		15,167		5,036		54,069
General and administrative		14,122		2,351		42,458

Total operating expenses		29,289		7,387		96,527

Income before income taxes		3,348		4,602		3,475

Provision for income taxes		1,200		847		1,908

Net income	$	2,148	$	3,755	$	1,567

Net income per common share – basic and diluted	$	0.00	$	0.00	$	0.00

Weighted average of common shares – basic and diluted		5,539,974		5,330,000		5,071,299

See accompanying notes in financial statements.

ON TIME FILINGS, INC.

STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY

FOR THE PERIOD FROM INCEPTION (JULY 10, 2009)

THROUGH MARCH 31, 2011

(UNAUDITED)

	Common Stock
	Number of Shares		Amount		Additional Paid-In Capital		Accumulated Earnings (Deficit)			Total Stockholders’ Equity

Balance, July 20, 2009		-	$	-	$	-	$	-		$	-

Issuance of common stock for services		1,000,000		1,000		-		-			1,000

Issuance of common stock for cash		4,330,000		4,330		500		-			4,830

Additional paid-in capital in exchange for facilities provided by related party		-		-		2,100		-			2,100

Net income		-		-		-		927			927

Balance, December 31, 2009		5,330,000		5,330		2,600		927			8,857

Issuance of common stock for cash		209,974		210		20,787		-			20,997

Additional paid-in capital in exchange for facilities provided by related party		-		-		4,200		-			4,200

Net loss		-		-		-		(1,508	)		(1,508	)

Balance, December 31, 2010		5,539,974		5,540		27,587		(581	)		32,546

Additional paid-in capital in exchange for facilities provided by related party		-		-		1,050		-			1,050

Net income		-		-		-		2,148			2,148

Balance, March 31, 2011		5,539,974	$	5,540	$	28,637	$	1,567		$	35,744

See accompanying notes in financial statements.

ON TIME FILINGS, INC.

STATEMENTS OF CASH FLOWS

(UNAUDITED)

	For the Three Months Ended March 31, 2011			For the Three Months Ended March 31, 2010			For the Period of Inception (July 10, 2009) through March 31, 2011

Cash flows from operating activities
Net income	$	2,148		$	3,755		$	1,567
Adjustments to reconcile net income to net cash used in operating activities
Additional paid-in capital in exchange for facilities provided by related party		1,050			1,050			7,350
Common stock issued for services rendered		-			-			1,000
Depreciation		99			36			389
Changes in operating assets and liabilities
(Increase) in accounts receivable		(11,136	)		(5,657	)		(39,421	)
(Increase) decrease in prepaid expenses		2,500			957			(9,092	)
Increase in accounts payable and accrued expenses		14,868			1,450			37,828
Increase in income taxes payable		1,200			847			1,200

Net cash used in operating activities		10,729			2,438			821

Cash flows from investing activities
Purchase of property and equipment		-			-			(1,479	)

Net cash used by investing activities		-			-			(1,479	)

Cash flows from financing activities
Proceeds from issuance of common stock		-			-			25,827

Net cash provided by financing activities		-			-			25,827

Net increase in cash		10,729			2,438			25,169

Cash, beginning of period		14,440			1,727			-

Cash, end of period	$	25,169		$	4,165		$	25,169

Supplemental disclosure of cash flow information
Income taxes paid	$	-		$	-		$	1,032

Interest paid	$	-		$	-		$	-

See accompanying notes in financial statements.

ON TIME FILINGS, INC.

NOTES TO FINANCIAL STATEMENTS

MARCH 31, 2011

(UNAUDITED)

1.	NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Operations

On Time Filings, Inc. (the Company) is currently was incorporated under the laws of the State of Nevada on July 10, 2009.

The Company provides transactional financial, corporate reporting, commercial and digital printing for its customers. The Company receives its clients’ information in a variety of formats and reprocesses it for distribution typically in print, digital or internet formats.

Transactional financial printing includes registration statements, prospectuses, debt arrangements, special proxy statements, offering circulars, tender offer materials and other documents related to corporate financings, mergers and acquisitions.

Corporate reporting includes interim reports, regular proxy materials prepared by corporations for distribution to stockholders, and Securities and Exchange Commission reports on Form 10-K and other forms.

Commercial and digital printing consists of annual reports, sales and marketing literature, newsletters and other custom-printed products.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 reported periods. Actual results could materially differ from those estimates.

Cash and Cash Equivalents

For purposes of the balance sheet and statement of cash flows, the Company considers all highly liquid debt instruments purchased with maturity of three months or less to be cash equivalents.

Fair Value of Financial Instruments

Pursuant to ASC No. 825, Financial Instruments, the Company is required to estimate the fair value of all financial instruments included on its balance sheet. The carrying value of cash, accounts payable and accrued expenses approximate their fair value due to the short period to maturity of these instruments.

ON TIME FILINGS, INC.

NOTES TO FINANCIAL STATEMENTS

MARCH 31, 2011

(UNAUDITED)

1.	NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Accounts Receivable

The Company is subject to credit risk as it extends credit to its customers, mostly on an unsecured basis after performing certain credit analysis. Management estimates and provides for probable uncollectible amounts through a charge to earnings and a credit to an allowance for doubtful accounts based on historical collection experience and its assessment of the current status of individual accounts. At March 31, 2011 and December 31, 2010, the Company’s management considered all outstanding receivables fully collectible.

Property and Equipment

Property and equipment, if any, are stated at cost. Depreciation of property and equipment is provided using the straight-line method over the estimated useful lives of the assets. Expenditures for major renewals and betterments that extend the useful lives of property and equipment are capitalized. Expenditures for maintenance and repairs are changed to expense as incurred.

Revenue Recognition

Revenue is to be recognized from sales of its services when (a) persuasive evidence of a sale with a customer exists, (b) services are rendered, (c) fee is fixed or determinable, and (d) collection of the fee is reasonably assured.

Provision for Income Taxes

The Company accounts for income taxes under ASC No. 740, Accounting for Income Taxes (ASC 740). Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations.

Comprehensive Income

The Company applies ASC 220, Reporting Comprehensive Income (ASC 220). ASC 220 establishes standards for the reporting and display of comprehensive income or loss, requiring its components to be reported in a financial statement that is displayed with the same prominence as other financial statements. During the three months ended March 31, 2011 and from inception (July 10, 2009) through March 31, 2011, the Company had no other components of comprehensive loss other than net loss as reported on the statement of operations.

ON TIME FILINGS, INC.

NOTES TO FINANCIAL STATEMENTS

MARCH 31, 2011

(UNAUDITED)

1.	NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Basic and Diluted Income (Loss) Per Share

In accordance with ASC 260, Earnings Per Share, basic income (loss) per common share is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding. Diluted income (loss) per common share is computed similar to basic income per common share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. As of March 31, 2011, the Company did not have any equity or debt instruments outstanding that could be converted into common stock.

Recent Accounting Pronouncements

There are no recently issued accounting standards with pending adoptions that the Company’s management currently anticipates will have any material impact upon its financial statements.

2.	FAIR VALUE MEASUREMENTS

The Company has adopted FASB Accounting Standards Codification No. 820 (ASC 820), Fair Value Measurements. ASC 820 relates to financial assets and financial liabilities.

At December 31, 2010, the Company calculated the fair value of its assets and liabilities for disclosure purposes only.

ASC 820 establishes a three-level valuation hierarchy for the use of fair value measurements based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date:

● Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

● Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means.

● Level 3 - Inputs that are both significant to the fair value measurement and unobservable. These inputs rely on management's own assumptions about the assumptions that market participants would use in pricing the asset or liability. (The unobservable inputs are developed based on the best information available in the circumstances and may include the Company's own data.)

The Company had no other assets or liabilities measured at fair value on a recurring basis under the hierarchy as of March 31, 2011.

ON TIME FILINGS, INC.

NOTES TO FINANCIAL STATEMENTS

MARCH 31, 2011

(UNAUDITED)

3. COMMON STOCK

On July 12, 2009, the Company issued 1,000,000 shares of its common stock to its sole officer for services valued at $1,000 which was considered a reasonable estimate of fair value.

On August 19, 2009, the Company issued 3,830,000 shares of its common stock to its sole officer for cash of $3,830 which was considered a reasonable estimate of fair value.

On September 30, 2009, the Company issued 500,000 shares of its common stock to its sole officer for cash of $1,000 which was considered a reasonable estimate of fair value.

During 2010, the Company issued 209,974 shares of its common stock to unrelated investors for cash of $20,997 pursuant to the Company’s Registration Statement on Form S-1.

4. PROVISION FOR INCOME TAXES

The components of the Company’s income tax provision for the three months ended March 31, 2011 consist of:

	March 31, 2011
Current income tax expense	$	1,200
Expected income tax benefit		(100	)
Change in valuation allowance		100
		1,200

ON TIME FILINGS, INC.

NOTES TO FINANCIAL STATEMENTS

MARCH 31, 2011

(UNAUDITED)

5. RELATED PARTY TRANSACTIONS

From the Company’s inception (July 10, 2009) through March 31, 2011, the Company’s President has provided services to the Company valued at $8,400. Accordingly, for the three months ended March 31, 2011 and for the period from inception (July 10, 2009) through March 31, 2011, the Company recorded expense of $1,200 and $8,400, respectively. At March 31, 2011, $2,000 remains due and payable to the officer.

From the Company’s inception (July 10, 2009) through March 31, 2011, the Company utilized office space of the Company’s President at no charge. The Company treated the usage of the office space as additional paid-in capital and charged the estimated fair value rent of $350 per month to operations. For the three months ended March 31, 2011, the Company recorded rent expense of $1,050. For the period from inception (July 10, 2009) through March 31, 2011, the Company recorded rent expense of $7,350.

6. GOING CONCERN

As of March 31, 2011, the Company has marginal retained earnings of $1,567. While the Company has managed to generate some revenues since inception, management believes that additional debt and equity financing will be required by the Company to further fund its planned growth activities and to support operations, including the costs to maintain itself as a public reporting company over the next twelve (12) months. Specifically, the Company estimates that it will require at least $50,000 over the next 12 months, as its monthly cash requirements increase from approximately $2,500 per month to $4,000 per month and it moves forward in fully effectuating its business plan. However, there is no assurance that that Company will be able to obtain additional debt or equity financing. Furthermore, there is assurance that rapid technological changes, changing customer needs and evolving industry standards will enable the Company to continue to increase its profitability and remain profitable in the short term.

7. SUBSEQUENT EVENTS

On May 5, 2011, the Company's Board of Directors authorized a forty-four (44) to one (4) forward stock split which will be payable to stockholders of record as of May 18, 2011. In connection with the forward stock split, the Company's Board of Directors also approved an increase in the number of authorized shares of the Company to 2,200,000,000 with the State of Nevada.

The Company has evaluated subsequent events through May 13, 2011, the date these financial statements were available to be issued.

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

This following information specifies certain forward-looking statements of management of the company. Forward-looking statements are statements that estimate the happening of future events and are not based on historical fact. Forward-looking statements may be identified by the use of forward-looking terminology, such as “may”, “shall”, “could”, “expect”, “estimate”, “anticipate”, “predict”, “probable”, “possible”, “should”, “continue”, or similar terms, variations of those terms or the negative of those terms. The forward-looking statements specified in the following information have been compiled by our management on the basis of assumptions made by management and considered by management to be reasonable. Our future operating results, however, are impossible to predict and no representation, guaranty, or warranty is to be inferred from those forward-looking statements.

The assumptions used for purposes of the forward-looking statements specified in the following information represent estimates of future events and are subject to uncertainty as to possible changes in economic, legislative, industry, and other circumstances. As a result, the identification and interpretation of data and other information and their use in developing and selecting assumptions from and among reasonable alternatives require the exercise of judgment. To the extent that the assumed events do not occur, the outcome may vary substantially from anticipated or projected results, and, accordingly, no opinion is expressed on the achievability of those forward-looking statements. We cannot guaranty that any of the assumptions relating to the forward-looking statements specified in the following information are accurate, and we assume no obligation to update any such forward-looking statements.

Critical Accounting Policy and Estimates. Our Management’s Discussion and Analysis of Financial Condition and Results of Operations section discusses our financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of these financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. On an on-going basis, management evaluates its estimates and judgments, including those related to revenue recognition, accrued expenses, financing operations, and contingencies and litigation. Management bases its estimates and judgments on historical experience and on various other factors that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. The most significant accounting estimates inherent in the preparation of our financial statements include estimates as to the appropriate carrying value of certain assets and liabilities which are not readily apparent from other sources. In addition, these accounting policies are described at relevant sections in this discussion and analysis and in the notes to the financial statements included in this Quarterly Report on Form 10-Q for the period ended March 31, 2011.

The following discussion of our financial condition and results of operations should be read in conjunction with our financial statements for the period ended March 31, 2011, together with notes thereto.

For the three months ended March 31, 2011, as compared to the three months ended March 31, 2010.

Results of Operations.

Revenues. We had revenues of $33,837 for the three months ended March 31, 2011, as compared to $15,377 for the three months ended March 31, 2010. The increase in revenues from 2010 to 2011 was primarily due to the fact that we have increased our client base from 2010 to 2011. Our gross profit for the three months ended March 31, 2011 was $32,637, as compared to $11,989 for the three months ended March 31, 2010.

Operating Expenses. For the three months ended March 31, 2011, our total operating expenses were $29,289, as compared to $7,387 for the three months ended March 31, 2010.

The increase in total operating expenses is due to an increase in general and administrative expenses from $2,351 for the three months ended March 31, 2010 to $14,122 for the three months ended March 31, 2011 and an increase in legal and professional fees from $5,036 for the three months ended March 31, 2010 to $15,167 for the three months ended March 31, 2011. The increase in legal and professional fees between the comparable periods is directly related to the costs associated with being a public company.

Net Income. For the three months ended March 31, 2011, our net income was $2,148, after a provision for income taxes of $1,200. In comparison, our net income for three months ended March 31, 2010 was $3,755, after a provision for income taxes of $847.

Liquidity and Capital Resources. We had cash of $25,169 as of March 31, 2011, accounts receivable of $39,421 and prepaid expenses of $9,092, all of which equals our total current assets of $73,682 as of that date. Our total assets of $74,772 as of March 31, 2011, included our current assets of $73,682 and property and equipment of $1,090, net of accumulated depreciation of $389.

In 2010, we filed a Registration Statement on Form S-1 to sell 5,000,000 shares of our common stock at a purchase price of $0.10 per share in a direct public offering. The Registration Statement on Form S-1 became effective on June 30, 2010. In 2010, we sold 209,974 shares of our common stock to unrelated investors for cash of $20,997 pursuant to that Registration Statement. We have used those proceeds for working capital.

As of March 31, 2011, we had liabilities of $39,028, all of which were represented by accounts payable and accrued expenses of $37,828 and income taxes payable of $1,200. We had no other long term liabilities, commitments or contingencies as of March 31, 2011.

During 2011, we expect to incur accounting costs of approximately $15,000 per year associated with the audit and review of our financial statements. We expect that the legal and accounting costs of being a public company will be approximately $25,000 per year and will continue to impact our liquidity. Those fees will be higher if our business volume and activity increases. Other than the anticipated increases in legal and accounting costs due to the reporting requirements of becoming a reporting company, we are not aware of any other known trends, events or uncertainties, which may affect our future liquidity.

We have cash of $25,169 as of March 31, 2011. In the opinion of management, available funds will not satisfy our working capital requirements to operate at our current level of activity for the next twelve months. However, our revenues to date have been sufficient to sustain our current level of operations. Our forecast for the period for which our financial resources will be adequate to support our operations involves risks and uncertainties and actual results could fail as a result of a number of factors. In order to expand our operations, we will need to raise additional capital. If we do not raise additional capital, then we may not be able to conduct marketing activities and expand our operations.

We are not currently conducting any research and development activities. We do not anticipate conducting such activities in the near future. In the event that we expand our customer base, then we may need to hire additional employees or independent contractors as well as purchase or lease additional equipment. Our management believes that we do not require the services of independent contractors to operate at our current level of activity. However, if our level of operations increases beyond the level that our current staff can provide, then we may need to supplement our staff in this manner.

We also believe that there is an opportunity for us to acquire smaller companies using our common stock as payment for any potential acquisitions. Accordingly, we have begun researching potential acquisitions or other suitable business partners which will assist us in realizing our business objectives. As of the date of this report, we have not identified any potential acquisition candidates. We cannot guaranty that we will acquire any other third party, or that in the event that we acquire another entity, this acquisition will increase the value of our common stock.

Off-Balance Sheet Arrangements. We have no off-balance sheet arrangements.

Item 3. Quantitative and Qualitative Disclosures about Market Risk.

Not applicable.

Item 4. Controls and Procedures.

Evaluation of disclosure controls and procedures. We maintain controls and procedures that are designed to ensure that information required to be disclosed in the reports that we file or submit under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to our management including our principal executive and principal financial officers, as appropriate, to allow timely decisions regarding required disclosures. Based upon their evaluation of those controls and procedures performed as of the end of the period covered by this report, our principal executive officer and our principal financial officer concluded that our disclosure controls and procedures were effective.

Changes in internal controls. There were no changes in our internal control over financial reporting that occurred during the fiscal quarter covered by this report that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II — OTHER INFORMATION

Item 1. Legal Proceedings.

None.

Item 1A. Risk Factors.

Not applicable.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

None.

Item 3. Defaults Upon Senior Securities.

None.

Item 4. (Removed and Reserved).

Item 5. Other Information.

On May 5, 2011, our Board of Directors authorized a forty-four (44) to one (1) forward stock split (“Forward Split”) of our issued and outstanding common stock. The record date for the Forward Split is May 18, 2011. The effective date for the Forward Split will be May 19, 2011, subject to approval by the OTC Corporate Actions office of FINRA. Prior to the Forward Split, there are 5,539,974 shares issued and outstanding. Following the Forward Split, there will be approximately 243,758,856 shares issued and outstanding. Our common stock will continue to be $.001 par value. Fractional shares will be rounded upward. The Forward Split is payable upon surrender of existing certificates to our transfer agent, Island Stock Transfer.

In connection with the Forward Split, on May 11, 2011, we filed a Certificate of Change with the State of Nevada to effect the Forward Split of our authorized and outstanding shares of common stock. The Certificate of Change provides that our authorized number of shares of common stock increases from 50,000,000 to 2,200,000,000 and shall be effective on May 19, 2011. A copy of the Certificate of Change as filed with the Secretary of State of Nevada is attached hereto as Exhibit 3.1.

As a result of the Forward Split, our CUSIP Number changed. Our new CUSIP Number is 68220B 205.

Item 6. Exhibits.

3.1	Certificate of Change
31	Certification of Principal Executive and Financial Officer Required By Rule 13a-14(A) of the Securities Exchange Act of 1934, As Amended, As Adopted Pursuant To Section 302 of the Sarbanes-Oxley Act of 2002
32	Certification of Principal Executive and Financial Officer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	On Time Filings, Inc., a Nevada corporation

May 13, 2011	By:	/s/ Suzanne Fischer
		Suzanne Fischer Chief Executive Officer, President, Chief Financial Officer, Treasurer and a Director (Principal Executive, Financial and Accounting Officer)

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