Corix Bioscience, Inc. - FORM 10-Q

Attached files

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EXCEL - IDEA: XBRL DOCUMENT - Corix Bioscience, Inc.	Financial_Report.xls
EX-31.1 - Corix Bioscience, Inc.	ex31-1.htm
EX-32.1 - Corix Bioscience, Inc.	ex32-1.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

x QUARTERLY REPORT UNDER TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE

ACT OF 1934

FOR THE QUARTERLY PERIOD ENDED April 30, 2012

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE

ACT OF 1934

Commission file number 333-150548

AFFINITY MEDIAWORKS CORP.

(Exact name of registrant as specified in its charter)

Nevada	75-3265854
(state or other jurisdiction of incorporation or organization)	(I.R.S. Employer I.D. No.)

455 Route 306, Suite M#2922 Monsey, New York 10952

(Address of principal executive offices)

(206) 426-5044

Issuer’s telephone number

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

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). Yes x No o

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 definition of “ large accelerated filer ” , “ accelerated filer ” and “ smaller reporting company ” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer o Accelerated filer o Non-accelerated filer o 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 x No o

APPLICABLE ONLY TO CORPORATE ISSUERS

As of June 11, 2012 the registrant had 50,355,969 shares of common stock outstanding.

Table of Contents


PART I – FINANCIAL INFORMATION
Item 1. Financial Statements	3
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations	4
Item 3. Quantitative and Qualitative Disclosures About Market Risk	5
Item 4. Controls and Procedures	6

PART II – OTHER INFORMATION	7
Item 1. Legal Proceedings	7
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	7
Item 3. Defaults Upon Senior Securities	7
Item 4. Submission of Matters to a Vote of Security Holders	7
Item 5. Other Information	7
Item 6. Exhibits	7

SIGNATURES	8

Table of Contents

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements

Affinity Mediaworks Corp.

(Formerly Green Bikes Rental Corporation)

April 30, 2012

Index

Balance Sheets (unaudited)	F-1

Statements of Operations (unaudited)	F-2

Statements of Cash Flows (unaudited)	F-3

Statement of Changes in Stockholders’ Deficit (unaudited)	F-4

Notes to the Unaudited Financial Statements	F-5 – F7

Table of Contents

Affinity Mediaworks Corp.

(formerly Green Bikes Rental Corporation)

(A Development Stage Company)

Balance Sheet

As of April 30, 2012 and January 31, 2012

(unaudited)

	April 30, 2012			January 31, 2012

ASSETS

Current Assets

Cash	$	6		$	6

Total Assets	$	6		$	6


LIABILITIES AND STOCKHOLDERS’ DEFECIT

Current Liabilities

Accounts payable	$	13,039		$	13,039
		13,039			13,039

Stockholders’ Deficit

Preferred stock, 75,000,000 shares authorized, $.00001 par value, none issued and outstanding as of April 30, 2012 and January 31, 2011 respectively		-			-

Common stock, 75,000,000 shares authorized, $.00001 par value, 50,355,969 shares issued and outstanding as of April 30, 2012 and January 31, 2012 respectively		504			504
Stock Payable		608,400			608,400

Additional paid-in capital		360,738			359,238

Deficit accumulated during the development stage		(982,675	)		(981,175	)

Total Stockholders’ Deficit		(13,033	)		(13,033	)

Total Liabilities and Stockholders’ Deficit	$	6		$	6

See the accompanying summary of accounting policies and notes to the financial statements

F-1

Table of Contents

Affinity Mediaworks Corp.

(formerly Green Bikes Rental Corporation)

(A Development Stage Company)

Statements of Operations

For Three Months ended April 30, 2012 and 2011 and from

December 17, 2007 (Inception) Through April 30, 2012

(unaudited)

	For Three Month Ended			For Three Month Ended			December 17, 2007 (inception) through
	April 30, 2012			April 30, 2011			April 30, 2012

Operating Expenses

Consulting services	$	750		$	750		$	39,596
General and administrative		-			-			13,156
Rent		750			750			13,000
Legal and accounting		-			-			67,979
Interest Expense		-			-			544
Management Fees		-			30,000			240,000
Loss on Acquisition of Note Receivable		-			-			608,400

Total Expenses		1,500			31,500			982,675

Net Loss	$	(1,500	)	$	(31,500	)	$	(982,675	)


Net Loss Per Common Share – Basic and Diluted	$	(0.00	)	$	(0.00	)


Weighted Average Number of Common Shares Outstanding		50,355,969			50,355,969

See the accompanying summary of accounting policies and notes to the financial statements

F-2

Table of Contents

Affinity Mediaworks Corp.

(formerly Green Bikes Rental Corporation)

(A Development Stage Company)

Statements of Cash Flows

For Three Months ended April 30, 2012 and 2011 and from

December 17, 2007 (Inception) Through April 30, 2012

(unaudited)

	For Three Month Ended			For Three Month Ended			December 17, 2007 (inception) through
	April 30, 2012			April 30, 2011			April 30, 2012

Operating Activities

Net loss	$	(1,500	)	$	(31,500	)	$	(982,675	)

Adjustments to reconcile net loss to net cash used in operating activities:

Shares issued for services		-			-			26,596
Donated Capital consulting services and rent expense		1,500			1,500			30,651
Imputed interest on shareholder advance		-			-			544
Loss on Acquisition of Note Receivable		-			-			608,400
Accrued Management Fees		-			30,000			-

Changes in operating assets and liabilities

Increase (Decrease) in accounts payable		-			-			257,310

Net Cash Provided by (Used in) Operating Activities		-			-			(59,174	)

Financing Activities

Proceeds from the sale of common stock		-			-			50,830
Donated Audit and Review Fees		-			-			8,350


Net Cash Provided by Financing Activities		-			-			59,180

Increase (decrease) in Cash		-			-			6

Cash – Beginning of Period		6			9			-

Cash – End of Period		6			9			6

Supplemental Disclosures:

Interest paid		–			–			–
Income taxes paid		–			–			–

Non Cash Transactions:

Forgiveness of Accounts Payable by Related Party		-			-			4,271

Forgiveness of Management Fees by Related Party		-			-			240,000

See the accompanying summary of accounting policies and notes to the financial statements

F-3

Table of Contents

Affinity Mediaworks Corp.

(formerly Green Bikes Rental Corporation)

(A Development Stage Company)

Statement of Changes in Stockholders’ Deficit

For the Period from December 17, 2007 (Inception)

Through April 30, 2012

(unaudited)

							Additional
	Common Stock						Paid-in			Stock		Accumulated
	Shares			Amount			Capital			Payable		Deficit			Total

Balances at December 17, 2007		-		$	-		$	-		$	–	$	–		$	-
Issuance of founder’s shares		100,000,000			1,000			(1,000	)		–		–			-
Donated services		-			-			500			–		–			500
Net loss		–			-			-			–		(905	)		(905	)
Balances at January 31, 2008		100,000,000		$	1,000		$	(500	)	$	-	$	(905	)	$	(405	)
Issuance of founder’s shares		10,155,000			102			50,728			–		–			50,830
Donated services		-			-			6,000			–		–			6,000
Imputed interest in shareholder advances		-			-			272								272
Shares returned		(60,000,000	)		(600	)		60			–		–			-
Net loss		–			-			-			–		(48,093	)		(48,093	)
Balances at January 31, 2009		50,166,000		$	502		$	57,100		$	-	$	(48,998	)	$	8,604
Donated services		-			-			6,000			–		–			6,000
Imputed interest in shareholder advances		-			-			272			-		-			272
Net loss		–			-			-			-		(83,169	)		(83,169	)
Balances at January 31, 2010		50,166,000		$	502		$	63,372		$	-	$	(132,167	)	$	(68,293	)
Donated services		-			-			10,651			–		–			10,651
Shares issued for services		189,969			2			26,594								26,596
Stock Payable for Note Receivable		-			-			-			608,400		-			608,400
Net loss		–			-			-			-		(772,728	)		(772,728	)
Balances at January 31, 2011		50,355,969		$	504		$	100,617		$	608,400	$	(904,895	)	$	(195,374	)
Donated services		-			-			6,000			–		–			6,000
Donated Management Fees and Related Party Accounts Payable		-			-			244,271			-		-			244,271
Donated Audit/Review Fees		-			-			8,350			-		-			8,350
Net loss		–			-			-			-		(76,280	)		(76,280	)
Balances at January 31, 2012		50,355,969		$	504		$	359,238		$	608,400	$	(981,175	)	$	(13,033	)
Donated services		-			-			1,500			-		-			1,500
Net loss		–			-			-			-		(1,500	)		(1,500	)
Balances at April 30, 2012		50,355,969		$	504		$	360,738		$	608,400	$	(982,675	)	$	(13,033	)

See the accompanying summary of accounting policies and notes to the financial statements

F-4

Table of Contents

Affinity Mediaworks Corp.

(formerly Green Bikes Rental Corporation)

(A Development Stage Company)

Notes to the Financial Statements

(unaudited)

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Green Bikes Rental Corporation was incorporated on December 17, 2007, under the laws of the State of Nevada, as a development stage company.

On January 7, 2010, the Company amended its Articles of Incorporation to change the name of Green Bikes Rental Corporation to Affinity Mediaworks Corp., to increase the authorized share capital of the Company to 200,000,000 and to affect a 20 for 1 forward-split of the Company’s issued and outstanding common shares.

BASIS OF PRESENTATION

The Company follows accounting principles generally accepted in the United States of America. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the periods presented have been reflected herein.

REVENUE RECOGNITION

Revenue is recognized when it is realized or realizable and earned. Affinity considers revenue realized or realizable and earned when persuasive evidence of an arrangement exists, services have been provided, and collectability is reasonably assured. Revenue that is billed in advance such as recurring weekly or monthly services are initially deferred and recognized as revenue over the period the services are provided.

USE OF ESTIMATES

The preparation of the financial statements in conformity with 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.

CASH AND CASH EQUIVALENTS

For purposes of the statement of cash flows, the Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. As of April 30, 2012 and January 31, 2012 there were no cash equivalents.

DEVELOPMENT STAGE COMPANY

The Company complies with FASB pronouncements for its characterization of the Company as development stage.

FAIR VALUE MEASURMENTS

The Company adopted FASB ASC Topic 820, “Fair Value Measurement and Disclosure,” at inception. ASC Topic 820 defines fair value, establishes a framework for measuring fair value, and expands disclosure of fair value measurements. FASB ASC Topic 820 applies under other accounting pronouncements that require or permit fair value measurements and accordingly, does not require any new fair value measurements. FASB ASC Topic 820 clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, FASB ASC Topic 820 established a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows.

·	Level 1. Observable inputs such as quoted market prices in active markets.

·	Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly, and

·	Level 3. Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

The FASB’s ASC Topic 825, “Financial Instruments”, became effective for the Company on January 1, 2008. FASB ASC Topic 825 establishes a fair value option that permits entities to choose to measure eligible financial instruments and certain other items at fair value at specified election dates. A business entity shall report unrealized gains and losses on items for which the fair value options have been elected in earnings at each subsequent reporting date. For the year ended December 31, 2009, there were no applicable items on which the fair value option was elected.

F-5

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BASIC AND DILUTED NET LOSS PER COMMON SHARE

Basic and diluted net loss per share calculations are calculated on the basis of the weighted average number of common shares outstanding during the year. The per share amounts include the dilutive effect of common stock equivalents in years with net income. Basic and diluted loss per share is the same due to the anti dilutive nature of potential common stock equivalents.

RECENT ACCOUNTING PRONOUNCEMENTS

Recent Accounting Pronouncements

In September 2011, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2011-08, Intangibles – Goodwill and Other (Topic 350): Testing Goodwill for Impairment. The guidance in ASU 2011-08 is intended to reduce complexity and costs by allowing an entity the option to make a qualitative evaluation about the likelihood of goodwill impairment to determine whether it should calculate the fair value of a reporting unit. The amendments also improve previous guidance by expanding upon the examples of events and circumstances that an entity should consider between annual impairment tests in determining whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Also, the amendments improve the examples of events and circumstances that an entity having a reporting unit with a zero or negative carrying amount should consider in determining whether to measure an impairment loss, if any, under the second step of the goodwill impairment test. The amendments in this ASU are effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. Early adoption is permitted, including for annual and interim goodwill impairment tests performed as of a date before September 15, 2011, if an entity’s financial statements for the most recent annual or interim period have not yet been issued. The adoption of this guidance is not expected to have a material impact on the Company’s financial position or results of operations.

In June 2011, the FASB issued ASU 2011-05, “Comprehensive Income (Topic 220): Presentation of Comprehensive Income”, which is effective for annual reporting periods beginning after December 15, 2011. ASU 2011-05 will become effective for the Company on December 1, 2012. This guidance eliminates the option to present the components of other comprehensive income as part of the statement of changes in stockholders’ equity. In addition, items of other comprehensive income that are reclassified to profit or loss are required to be presented separately on the face of the financial statements. This guidance is intended to increase the prominence of other comprehensive income in financial statements by requiring that such amounts be presented either in a single continuous statement of income and comprehensive income or separately in consecutive statements of income and comprehensive income. The adoption of ASU 2011-05 is not expected to have a material impact on our financial position or results of operations.

In May 2011, the FASB issued ASU 2011-04, “Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs”, which is effective for annual reporting periods beginning after December 15, 2011. This guidance amends certain accounting and disclosure requirements related to fair value measurements. Additional disclosure requirements in the update include: (1) for Level 3 fair value measurements, quantitative information about unobservable inputs used, a description of the valuation processes used by the entity, and a qualitative discussion about the sensitivity of the measurements to changes in the unobservable inputs; (2) for an entity’s use of a nonfinancial asset that is different from the asset’s highest and best use, the reason for the difference; (3) for financial instruments not measured at fair value but for which disclosure of fair value is required, the fair value hierarchy level in which the fair value measurements were determined; and (4) the disclosure of all transfers between Level 1 and Level 2 of the fair value hierarchy. ASU 2011-04 will become effective for the Company on December 1, 2012. We are currently evaluating ASU 2011-04 and have not yet determined the impact that adoption will have on our financial statements.

In April 2011, the FASB issued ASU 2011-02, “Receivables (Topic 310): A Creditor’s Determination of Whether a Restructuring is a Troubled Debt Restructuring”. This amendment explains which modifications constitute troubled debt restructurings (“TDR”). Under the new guidance, the definition of a troubled debt restructuring remains essentially unchanged, and for a loan modification to be considered a TDR, certain basic criteria must still be met. For public companies, the new guidance is effective for interim and annual periods beginning on or after June 15, 2011, and applies retrospectively to restructuring occurring on or after the beginning of the fiscal year of adoption. ASU 2011-02 has become effective for the Company on September 1, 2012. The Company does not believe that the guidance will have a material impact on its financial statements.

NOTE 2 - GOING CONCERN

Affinity’s financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities and commitments in the normal course of business for the foreseeable future. Since inception, the Company has accumulated losses aggregating to $982,675 and has insufficient working capital to meet operating needs for the next twelve months as of April 30, 2012 all of which raise substantial doubt about Affinity’s ability to continue as a going concern.

F-6

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NOTE 3 - RELATED PARTY TRANSACTIONS

During the three months ended April 30, 2012 the Company recognized a total of $1,500 for donated rent and services provided by the President and Director of the Company.

NOTE 4 - COMMON STOCK

Affinity issued 50,000,000 shares of common stock (founder's shares) on December 17, 2007 to the President and Director of the Company. In addition, 355,969 shares of common stock was issued to the public on May 15, 2008 for $50,830.

As of January 31, 2011, the Company wrote off stock payable for $608,400 as the party was not able to pay for the balance of the note receivable of $338,000.

As of January 31, 2011, 189,969 shares were issued for services for services valued at $26,596 using the closing price of the stock on the date of grant.

NOTE 5 - INCOME TAXES

The Company has tax losses which may be applied against future taxable income. The potential tax benefits arising from these loss carry forwards expire beginning in 2028 and are offset by a valuation allowance due to the uncertainty of profitable operations in the future. The net operating loss carry forward was $982,675 at January 31, 2012. The significant components of the deferred tax asset as of January 31, 2012 and April 30, 2011 are as follows:

	04/30/12			01/31/12

Net operating loss carryforwards	$	117,701		$	91,766
Valuations allowance		(117,701	)		(91,766	)

Net deferred tax asset	$	--		$	--

NOTE 6 - SUBSEQUENT EVENTS

We evaluated subsequent events through the date and time the consolidated financial statements were issued.

F-7

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Item 2. Management's Discussion and Analysis or Plan of Operation.

This section of the report includes a number of forward-looking statements that reflect our current views with respect to future events and financial performance. Forward-looking statements are often identified by words like: believe, expect, estimate, anticipate, intend, project and similar expressions, or words which, by their nature, refer to future events. You should not place undue certainty on these forward-looking statements, which apply only as of the date of this report. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or our predictions.

Plan of Operation

We are a start-up corporation and have not yet generated or realized any revenues from our business operations.

Our auditors have issued a going concern opinion. This means that there is substantial doubt that we can continue as an on-going business for the next twelve months unless we obtain additional capital to pay our bills. This is because we have not generated any revenues and no revenues are anticipated until we begin our operations. As of April 30, 2012 we had cash of $6. Our current cash holdings will not satisfy our liquidity requirements and we will require additional financing to pursue our planned business activities

We intend to become involved in the development, finance, sales, acquisition, distribution and marketing of high quality intellectual property devoted for the entertainment and leisure markets, through films under budgets from $4 to $8 million. We believe that our product line will represent a timely opportunity with the potential for fast acceptance in the international marketplace.

We are also finalizing its plan to vertically integrate in all aspects of the industry, including pre and post production services. These ancillary services are priced at a level where we can become a key provider of solutions to the independent and small film sector. The services that we will offer will help provide a monthly revenue stream that will create an independent profit center within our organization and provide supplemental cash flow to us while our major film projects are being shot and carried to market.

To date we have entered into an agreement with Insight Film Studios/Odyssey Film Studios to Produce 12 feature films over the next year. Insight/Odyssey is considered by many industry insiders as the largest independent film production company in Canada and one of the largest in the world.

In addition, we have entered into an agreement with Briton Ventures of the United Kingdom to produce 12 pictures with a budget cap of $10 million USD per project. Briton Ventures will provide up to 50% of the budgets and we will provide the other 50% funding through bankable tax credits and distribution contracts.

Limited Operating History; Need for Additional Capital

There is no historical financial information about us upon which to base an evaluation of our performance. We are in development stage operations and have not yet generated any revenues. We cannot guarantee we will be successful in our business operations. Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources and possible cost overruns.

We have no assurance that future financing will be available to us on acceptable terms. If financing is not available to us on satisfactory terms, we may be unable to continue, develop or expand our operations. Equity financing could result in additional dilution to our existing shareholders.

Results of Operations for the three months ended April 30, 2012 and from December 17, 2007 (Date of Inception) to April 30, 2012.

Lack of Revenues

We are a development stage company with limited operations since our inception on December 17, 2007 to April 30, 2012. We have not generated any revenues. As of April 30, 2012, we have an accumulated deficit of $982,675. At this time, our ability to generate any significant revenues continues to be uncertain. Our financial statements contain an additional explanatory paragraph in Note 2, which identifies issues that raise substantial doubt about our ability to continue as a going concern. Our financial statements do not include any adjustment that might result from the outcome of this uncertainty.

Table of Contents

Net Loss

We incurred a net loss of $1,500 for the three months ended April 30, 2012, compared to a net loss of $31,500 for the same period in 2011. From inception on December 17, 2007 to April 30, 2012, we have incurred a net loss of $982,675. Our basic and diluted loss per share was $0.00 for the three months ended April 30, 2012, and $0.00 for the same period in 2011.

Expenses

Our total operating expenses decreased from $31,500 to $1,500 for the three months ended April 30, 2012 compared to the same period in 2011. This decrease in expenses is mostly due to waived management fee. Since our inception on December 17, 2007 to April 30, 2012, we have incurred total operating expenses of $982,675.

Our consulting fees remained unchanged at $750 for the three months ended April 30, 2012 compared to the same period in 2011. Since our inception on December 17, 2007 until April 30, 2012 we have spent $39,596 on consulting fees.

Our rent expense remained unchanged at $750 for the three months ended April 30, 2012 compared to the same period in 2011. Since our inception on December 17, 2007 until April 30, 2012 we have spent $13,000 on rent.

Our management fees were waived for the three months ended April 30, 2012 compared to the same period in 2011. Since our inception on December 17, 2007 until April 30, 2012 we have spent $240,000 on management fees.

Our general and administrative expenses consist of bank charges, travel, meals and entertainment, office maintenance, communication expenses (internet, fax, and telephone), courier, postage costs, office supplies. Our general and administrative expenses decreased $nil from $0 for the three months ended April 30, 2012 compared to the same period in 2011. Since our inception on December 17, 2007 until April 30, 2012 we have spent $13,156 on general and administrative expenses.

Our legal and accounting fees are $0 from for the three months ended April 30, 2012 the same for the same period in 2011. Since our inception on December 17, 2007 until April 30, 2012 we have spent $67,979 on legal and accounting expenses.

Off-Balance Sheet Arrangements

We have no significant 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 that is material to stockholders.

Inflation

The amounts presented in the financial statements do not provide for the effect of inflation on our operations or financial position. The net operating losses shown would be greater than reported if the effects of inflation were reflected either by charging operations with amounts that represent replacement costs or by using other inflation adjustments.

Item 3. Quantitative and Qualitative Disclosures about Market Risk.

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

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Item 4. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

We carried out an evaluation, under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, of the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Exchange Act (defined below)). Based upon that evaluation, our principal executive officer and principal financial officer concluded that, as of the end of the period covered in this report, our disclosure controls and procedures were not effective to ensure that information required to be disclosed in reports filed under the Securities Exchange Act of 1934, as amended (the "Exchange Act") is recorded, processed, summarized and reported within the required time periods and is accumulated and communicated to our management, including our principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure.

Our management, including our principal executive officer and principal financial officer, does not expect that our disclosure controls and procedures or our internal controls will prevent all error or fraud. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints and the benefits of controls must be considered relative to their costs. Due to the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, have been detected. Accordingly, management believes that the financial statements included in this report fairly present in all material respects our financial condition, results of operations and cash flows for the periods presented.

Changes In Internal Control Over Financial Reporting

In addition, our management with the participation of our Principal Executive Officer and Principal Financial Officer have determined that no change in our internal control over financial reporting occurred during or subsequent to the quarter ended April 30, 2012 that has materially affected, or is (as that term is defined in Rules 13(a)-15(f) and 15(d)-15(f) of the Securities Exchange Act of 1934) reasonably likely to materially affect, our internal control over financial reporting.

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PART II – OTHER INFORMATION

Item 1. Legal Proceedings.

Not applicable.

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

None.

Item 3. Defaults upon Senior Securities.

None.

Item 4. Submission of Matters to a Vote of Security Holders.

None.

Item 5. Other Information.

None.

Item 6. Exhibits

Exhibit Number	Description
31.1	Certification of the Chief Executive Officer Pursuant to Rule 13a-14 or 15d-14 of the Exchange Act pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1	Certification of the Chief Executive Officer Pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document

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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.


	Affinity Mediaworks Corp.

	By:/s/ Scott Cramer
Date: June 11, 2012	Scott Cramer
	President, Chief Executive Officer, Chief Financial Officer, Principal Accounting Officer, Secretary, Treasurer and Director

Table of Contents

Corix Bioscience, Inc. - FORM 10-Q - June 13, 2012

Attached files

Corix Bioscience, Inc. Reports