Attached files
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the quarter ended June 30, 2012
OR
[ ] 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 000-54741
ISOFT INTERNATIONAL INC.
(Exact name of registrant as specified in its charter)
Nevada 45-4798356
(State or other jurisdiction of (I.R.S. Employer
Incorporation or organization) Identification No.)
1 Ahmed Kamal St., Sidi Gaber Alexandria 21311, Egypt
(Address of principal executive offices) (Zip Code)
+20 (10) 920-4278
(Registrant's telephone number, including area code)
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 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. Yes [X] 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 (ss.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 [ ]
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 [X] No [ ]
Number of shares outstanding of the registrant's class of common stock as July
23, 2012: 6,000,000
Authorized share capital of the registrant: 75,000,000 common shares, par value
of $0.001
The Company recorded $nil sales revenue for the three months ended June 30,
2012.
FORWARD-LOOKING STATEMENTS
THIS QUARTERLY REPORT ON FORM 10-Q CONTAINS PREDICTIONS, PROJECTIONS AND OTHER
STATEMENTS ABOUT THE FUTURE THAT ARE INTENDED TO BE "FORWARD-LOOKING STATEMENTS"
WITHIN THE MEANING OF SECTION 21E OF THE SECURITIES EXCHANGE ACT OF 1934, AS
AMENDED (COLLECTIVELY, "FORWARD-LOOKING STATEMENTS"). FORWARD-LOOKING STATEMENTS
INVOLVE RISKS AND UNCERTAINTIES. A NUMBER OF IMPORTANT FACTORS COULD CAUSE
ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE IN THE FORWARD-LOOKING
STATEMENTS. IN ASSESSING FORWARD-LOOKING STATEMENTS CONTAINED IN THIS QUARTERLY
REPORT ON FORM 10-Q, READERS ARE URGED TO READ CAREFULLY ALL CAUTIONARY
STATEMENTS - INCLUDING THOSE CONTAINED IN OTHER SECTIONS OF THIS QUARTERLY
REPORT ON FORM 10-Q. AMONG SAID RISKS AND UNCERTAINTIES IS THE RISK THAT THE
COMPANY WILL NOT SUCCESSFULLY EXECUTE ITS BUSINESS PLAN, THAT ITS MANAGEMENT IS
ADEQUATE TO CARRY OUT ITS BUSINESS PLAN AND THAT THERE WILL BE ADEQUATE CAPITAL
OR THEY MAY BE UNSUCCESSUFL FOR TECHNICAL, ECONOMIC OR OTHER REASONS.
We caution readers not to place undue reliance on any such forward-looking
statements, which speak only as of the date made. We disclaim any obligation
subsequently to revise any forward-looking statements to reflect events or
circumstances after the date of such statements or to reflect the occurrence of
anticipated or unanticipated events.
PART I - FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
Page
Number
------
Balance Sheets................................................................ 3
Statements of Operations...................................................... 4
Statements of Stockholders' Deficit........................................... 5
Statements of Cash Flows...................................................... 6
Notes to the Financial Statements............................................. 7
2
ISOFT INTERNATIONAL INC.
(A Development Stage Company)
BALANCE SHEETS
June 30, March 31,
2012 2012
-------- --------
(unaudited)
ASSETS
CURRENT ASSETS
Cash and bank accounts $ 26,204 $ 45,729
Prepaid expense 6,667 350
-------- --------
TOTAL CURRENT ASSETS 32,871 46,079
-------- --------
TOTAL ASSETS $ 32,871 $ 46,079
======== ========
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable and accrued liabilities $ 1,215 $ 160
-------- --------
TOTAL CURRENT LIABILITIES 1,215 160
-------- --------
STOCKHOLDERS' EQUITY (NOTE 5,6)
Authorized:
75,000,000 common shares
Par value $0.001
Issued and outstanding:
6,000,000 common shares 6,000 6,000
Additional paid-in capital 49,878 49,653
Deficit accumulated during the development stage (24,222) (9,734)
-------- --------
TOTAL STOCKHOLDERS' EQUITY 31,656 45,919
-------- --------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 32,871 $ 46,079
======== ========
The accompanying notes are an integral part of these financial statements.
3
ISOFT INTERNATIONAL INC.
(A Development Stage Company)
STATEMENTS OF OPERATIONS
(unaudited)
Date of
Three Months Three Months Incorporation
Ended Ended on March 9, 2011 to
June 30, June 30, June 30,
2012 2011 2012
---------- ---------- ----------
REVENUE $ -- $ -- $ --
---------- ---------- ----------
OPERATING EXPENSES
General & administrative 2,155 225 4,668
Organization -- 325 605
Professional fees 12,333 5,250 18,949
---------- ---------- ----------
Loss before income taxes (14,488) (5,800) (24,222)
Provision for income taxes -- -- --
---------- ---------- ----------
Net loss $ (14,488) $ (5,800) $ (24,222)
========== ========== ==========
Basic and diluted loss per common share (1)
========== ==========
Weighted average number of common shares
outstanding (Note 5) 6,000,000 5,000,000
========== ==========
----------
(1) less than $0.01
The accompanying notes are an integral part of these financial statements.
4
ISOFT INTERNATIONAL INC.
(A Development Stage Company)
STATEMENTS OF STOCKHOLDERS' EQUITY
(unaudited)
Deficit
Accumulated
Common Stock Additional During the Total
------------------- Paid in Development Stockholders'
Shares Amount Capital Stage Equity
------ ------ ------- ----- ------
Inception, March 9, 2011 -- $ -- $ -- $ -- $ --
Initial capitalization, sale of
common stock to Director on
March 9, 2011 5,000,000 5,000 10,000 -- 15,000
Net loss for the period -- -- -- (440) (440)
--------- --------- --------- --------- ---------
Balance, March 31, 2011 5,000,000 5,000 10,000 (440) 14,560
Common stock issued for cash,
net of offering costs 1,000,000 1,000 38,753 -- 39,753
Capital contribution -- -- 900 -- 900
Net loss for the period -- -- -- (9,294) (9,294)
--------- --------- --------- --------- ---------
Balance, March 31, 2012 6,000,000 6,000 49,653 (9,734) 45,919
Capital contribution -- -- 225 -- 225
Net loss for the period -- -- -- (14,488) (14,488)
--------- --------- --------- --------- ---------
Balance, June 30, 2012 6,000,000 $ 6,000 $ 49,878 $ (24,222) $ 31,656
========= ========= ========= ========= =========
The accompanying notes are an integral part of these financial statements.
5
ISOFT INTERNATIONAL INC.
(A Development Stage Company)
STATEMENTS OF CASH FLOWS
(unaudited)
Date of
Three Months Three Months Incorporation on
Ended Ended March 9, 2011 to
June 30, June 30, June 30,
2012 2011 2012
-------- -------- --------
OPERATING ACTIVITIES
Net loss for the period $(14,488) $ (5,800) $(24,222)
Adjustments To Reconcile Net Loss To Net
Cash Used In Operating Activities
Changes in operating assets and liabilities:
Prepaid expense (6,317) -- (6,667)
Accounts payable 1,055 1,000 1,215
-------- -------- --------
NET CASH USED FOR OPERATING ACTIVITIES (19,750) (4,800) (29,674)
-------- -------- --------
INVESTING ACTIVITIES
-- -- --
-------- -------- --------
NET CASH USED FOR INVESTING ACTIVITIES -- -- --
-------- -------- --------
FINANCING ACTIVITIES
Payment of offering costs -- (4,685) (10,247)
Contributed capital 225 225 1,125
Proceeds from issuance of common stock -- -- 65,000
-------- -------- --------
NET CASH (USED FOR) PROVIDED BY FINANCING ACTIVITIES 225 (4,460) 55,878
-------- -------- --------
(Decrease) increase in cash during the period (19,525) (9,260) 26,204
Cash, beginning of the period 45,729 14,720 --
-------- -------- --------
Cash, end of the period $ 26,204 $ 5,460 $ 26,204
======== ======== ========
Supplemental disclosure with respect to cash flows:
Cash paid for income taxes $ -- $ -- $ --
Cash paid for interest $ -- $ -- $ --
The accompanying notes are an integral part of these financial statements.
6
ISOFT INTERNATIONAL INC.
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
June 30, 2012
(unaudited)
NOTE 1. GENERAL ORGANIZATION AND BUSINESS
The Company was originally incorporated under the laws of the state of Nevada on
March 9, 2011. The Company is devoting substantially all of its present efforts
to establish a new business. It is considered a development stage company, and
has had no revenues from operations to date.
Initial operations have included organization and capital formation. Management
is planning to develop and then market an internet based, social media online
video game to prospective users.
NOTE 2. BASIS OF PRESENTATION
These unaudited interim financial statements have been prepared in accordance
with United States generally accepted accounting principles for interim
reporting, and in accordance with rules of the Securities and Exchange
Commission. In the opinion of management, all known adjustments have been made
(which consist primarily of normal, recurring accruals and estimates, and
assumptions that impact the financial statements) for fair presentation of the
financial position and operating results as of and for the period March 9, 2011
(date of inception) to June 30, 2012.
These unaudited interim financial statements should be read in conjunction with
the audited financial statements and related footnotes for the fiscal year ended
March 31, 2012. Notes to the financial statements, which would substantially
duplicate the disclosures contained in the audited financial statements, have
been omitted. Operating results for the three months ended June 30, 2012 are not
necessarily indicative of the results that may be expected for the year ending
March 31, 2013.
7
ISOFT INTERNATIONAL INC.
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
June 30, 2012
(unaudited)
NOTE 3. GOING CONCERN
The accompanying financial statements have been prepared assuming that the
Company will continue as a going concern, which contemplates, among other
things, the realization of assets and satisfaction of liabilities in the normal
course of business. The Company has net losses for the period from inception to
June 30, 2012 of $(24,222). The Company intends to fund its expenditures through
equity financing arrangements, which may be insufficient to fund its proposed
development expenditures, working capital and other cash requirements through
the next fiscal year ending March 31, 2013.
The ability of the Company to emerge from the development stage is dependent
upon the Company's successful efforts to raise sufficient capital for its
business plans and then attaining profitable operations. In response to these
issues, management has planned the following actions:
* The Company has recently cleared a Registration Statement with the SEC
and raised initial equity funding through a public offering.
* Management is currently formulating plans to develop an internet based
social media online video game to generate future revenues. There can
be no assurances, however, that management's expectations of future
revenues will be realized.
These factors, among others, 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 the outcome of this uncertainty.
NOTE 4. STOCKHOLDERS' EQUITY
AUTHORIZED
The Company is authorized to issue 75,000,000 shares of $0.001 par value common
stock. All common stock shares have equal voting rights, are non-assessable and
have one vote per share. Voting rights are not cumulative and, therefore, the
holders of more than 50% of the common stock could, if they choose to do so,
elect all of the directors of the Company.
8
ISOFT INTERNATIONAL INC.
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
June 30, 2012
(unaudited)
NOTE 4. STOCKHOLDERS' EQUITY (CONTINUED)
ISSUED AND OUTSTANDING
On March 9, 2011 (inception), the Company issued 5,000,000 common shares to its
President, Secretary Treasurer and Director for cash of $15,000. See Note 5.
During the fiscal year ended March 31, 2012, the Company accepted subscriptions
for 1,000,000 shares of common stock under its registered offering for gross
proceeds of $50,000, or $0.05 per share. Subsequent to offsetting offering costs
of $10,247 against capital, net proceeds were $39,753.
NOTE 5. RELATED PARTY TRANSACTIONS
The Company's officer and director provides office space free of charge. The
Company has recorded the estimated value of the office space of $75 per month as
a contribution to capital.
The Company's officer and director is involved in other business activities and
may, in the future, become involved in other business opportunities. If a
specific business opportunity becomes available, such persons may face a
conflict in selecting between the Company and their other business interests.
The Company has not formulated a policy for the resolution of such conflicts.
On March 9, 2011, the Company issued 5,000,000 shares of its common stock to its
President, Secretary Treasurer and Director for cash of $15,000. See Note 5.
NOTE 6. SUBSEQUENT EVENTS
In accordance with SFAS 165 (ASC 855-10) the Company has analyzed its operations
subsequent to June 30, 2012 and has determined that it does not have any
material subsequent events to disclose in these financial statements.
9
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS
The following information should be read in conjunction with our financial
statements and related notes appearing elsewhere in this Form 10-Q, together
with the more detailed business information and the March 31, 2012 audited
financial statements included in the Company's 10K Annual Report (File No.
333-174443), as filed with the SEC on June 20, 2012. The 10K also includes our
detailed expenditures and milestones for our plan of operations described
herein. Statements in this section and elsewhere in this Form 10-Q that are not
statements of historical or current fact constitute "forward-looking"
statements.
GENERAL OVERVIEW
Isoft International Inc. (referred to as "Isoft", "us", "we" and "our") was
incorporated in the State of Nevada on March 9, 2011 to engage in the
development and operation of online games for social networking websites. Our
principal executive offices are located at 1 Ahmed Kamal St., Sidi Gaber
Alexandria 21311, Egypt. Our phone number is +20 (10) 920-4278. We are a
development stage company, we only just completed our first fiscal year end on
March 31 and we have no subsidiaries. Since incorporation, we have not made any
significant purchases or sale of assets, nor have we been involved in any
mergers, acquisitions or consolidations. We have never declared bankruptcy, have
never been in receivership, and never been involved in any legal action or
proceedings.
Our company's business is focused on the development and sale of social media,
internet based, interactive entertainment games for use by the general public.
We are in the early stages of developing our first game that we have named Curse
of the Pharaohs ("COTP"). COTP is planned to provide an engaging online game
experience, to be played on social media websites such as Facebook. We are also
designing our game to capitalize on the interactive and social elements of
gaming, appealing to players of all ages and genders. Each player will primarily
play against his or her own programming directions or decisions, but will have
the ability to draw on assistance provided by their own social media "friends".
It is being designed as a fantasy quest in an engaging and intense environment,
in which the player will play a young and ambitious archeologist on a mission to
discover the hidden tombs and buried treasures of the Egyptian Pharaohs in the
Valley of the Kings.
We just completed our first public offering of 1,000,000 shares of our common
stock in late February 2012, and raised a gross amount of $50,000 for our
operations. We must complete 2 major milestones prior to having our game
available for future commercial use and revenue generation. First, we are
planning to complete a DVD based video trailer with the funds we receive from
our offering. We have recently contracted with a third party with gaming and
video presentation expertise to develop the DVD. We plan to complete the trailer
within the next 3-4 months (Please also refer to our "Plan of Operations"
herein). The trailer objective is to provide a visually engaging and dynamic
representation through motion graphics and special effects to illustrate the key
components and processes of the COTP game. The trailer will contain summary
representations of our proposed game, characters and stage or realm development
that we can use for presentations to the industry and financial community to
raise the additional financing we require to complete our second milestone,
develop and successfully launch COTP. It will also serve to give us valuable
feedback on our concept from our own website viewers.
We anticipate that we will not have a commercial product for at least 12-24
months from the date hereof, and currently estimate that we will require in
approximately $250-400,000 to complete development and $200,000 to successfully
launch our game with an adequate marketing and promotional campaign.
To date, we have only developed the overall storyline along the logo for our
brand and recently completed limited character sketches for use in our video
demo. Our website www.isoftinternational.com is functional and will ultimately
serve as the primary method to promote our company, our current and planned
products, and gain feedback on our commercial product offerings.
10
GOING CONCERN
We have very limited operations and no revenues. We have incurred losses from
operations since inception. No revenues are anticipated until we complete and
successfully commercialize our planned game. The ability of our Company to
continue as a going concern is dependent on raising capital to fund our business
plan and ultimately to attain profitable operations. Accordingly, these factors
raise substantial doubt as to the Company's ability to continue as a going
concern.
Our activities to date have been financed from the proceeds of share
subscriptions. From our inception to June 30, 2012 we have raised a total of
$65,000 in gross proceeds from the issuance of our common stock. We require
significant additional financing to develop our business. There is no guarantee
that we will be able to raise any additional funds.
PLAN OF OPERATION
Our plan of operations over this 12 month fiscal period is to gain support for
our concept and then raise sufficient suitable additional financing to commence
with the development of the COTP social media game. We do not expect to generate
any revenues during this time frame. In order to achieve our plan, we have
established the following goals:
* Create and execute a video trailer which illustrates our game concept
* Upload our trailer on our company website after completion
* Secure additional suitable financing to develop our game
* Research & select of most effective game engine for COTP requirements
* Upon selection of game engine, interview programming specialists who
have experience with specific coding languages to develop and support
the game engine
RESULTS OF OPERATIONS
We incurred a loss of $14,488 for the 3 months ended June 30, 2012, compared to
$5,800 for the comparable period ended June 30, 2011. Our 2012 loss includes
$2,155 for general and administrative costs and $12,333 for professional fees.
Total professional fees expense includes $4,000 for the first contractual
payment for the development of our video demo and $10,000 for consulting fees to
assist us with the raise of additional capital. Because these consulting fees
cover an extended period, we expensed approximately one third of the total cost
in first quarter and plan to expense the balance over the next 2 successive
quarters.
From inception on March 9, 2011 to June 30, 2012 we have incurred cumulative
losses of $24,222. We believe we will continue to incur losses into the
foreseeable future as we develop our business.
REVENUES
We have not generated any revenues from March 9, 2011 (inception) to June 30,
2012. We will not be in a position to generate revenues for at least 24 months.
Future revenue generation is dependent on the successful development and launch
of our COTP game.
LIQUIDITY AND CAPITAL RESOURCES
Historically, we have financed our cash flow and operations solely from the sale
of common stock. We started our current fiscal year with $45,729 in cash and
$45,919 in working capital. During the three months ended June 30, 2012 we used
$19,525 in cash for our operations. As a result, our remaining cash balance as
of June 30, 2012 was $26,204. We also have outstanding prepaid expenses of
$6,667 and accounts payable of $1,215. Therefore, our net working capital
balance as of June 30, 2012 was $31,656.
We believe our current cash and net working capital balance is sufficient to
cover our expenses for the next 12 months and will enable us to carry out our
11
initial plan of operations for this period. If we cannot raise additional
financing prior to the expiry of this timeframe, we will be forced to cease
operations and our business will fail. We are a development stage company and
have generated no revenue to date. Even if we are successful in raising
additional financing, we will still not be in a position to generate revenues or
become profitable. We currently estimate that we will require a minimum of 12-24
months from the date hereof and an additional $450-600,000 to complete the
development of our COTP game and promote it commercially.
These additional funds will have to be raised through equity financing, debt
financing, or other sources, which may result in the dilution in the equity
ownership of our shares. We will also need more funds if the costs of the
development of our concept and actual game are greater than we have budgeted. We
will also require additional financing to sustain our business operations if we
are ultimately not successful in earning revenues. We currently do not have any
arrangements for further financing and we may not be able to obtain financing
when required. Obtaining commercial loans, assuming those loans would be
available, will increase our liabilities and future cash commitments.
There are no assurances that we will be able to obtain further funds required
for our continued operations. Even if additional financing is available, it may
not be available on terms we find favorable. At this time, there are no
anticipated sources of additional funds in place. Failure to secure the needed
additional financing will have an adverse effect on our ability to remain in
business.
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
As a smaller reporting company (as defined in Rule 12b-2 of the Exchange Act),
we are not required to provide the information called for by this Item 3.
ITEM 4. CONTROLS AND PROCEDURES
EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES
We are required to maintain disclosure controls and procedures, as defined in
Rule 13a-15(e) under the Securities Exchange Act of 1934, that are designed to
ensure that information required to be disclosed in our Exchange Act reports is
recorded, processed, summarized and reported within the time periods specified
in the SEC rules and forms, and that such information is accumulated and
communicated to our management, to allow timely decisions regarding required
disclosure. As of June 30, 2012 we conducted an evaluation of the effectiveness
of the design and operation of our disclosure controls and procedures. Based on
this evaluation, our sole Officer concluded that our disclosure controls and
procedures were effective and adequate.
MANAGEMENT'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
Our management is responsible for establishing and maintaining adequate internal
control over financial reporting. Internal control over financial reporting is
defined in Rule 13a-15(f) or 15d-15(f) under the Securities Exchange Act of 1934
as a process designed by, or under the supervision of, the company's CEO and CFO
and effected by the company's board of directors, management and other
personnel, to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for external
purposes in accordance with accounting principles generally accepted in the
United States of America.
Management assessed the effectiveness of our internal control over financial
reporting as of June 30, 2012, and concluded internal control over financial
reporting was adequate.
12
CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING
There was no change in our internal control over financial reporting that
occurred during the period covered by this report, which has materially
affected, or is reasonably likely to materially affect, our internal control
over financial reporting.
This quarterly report does not include an attestation report of the Company's
registered public accounting firm regarding internal control over financial
reporting. Management's report was not subject to attestation by the Company's
registered public accounting firm pursuant to SEC rules that permit the Company
to provide only the management's report in this quarterly report.
PART II - OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
None.
ITEM 1A. RISK FACTORS
As a smaller reporting company (as defined in Rule 12b-2 of the Exchange Act),
we are not required to provide the information called for by this Item 1A.
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
None.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM 4. MINE SAFETY DISCLOSURES
None.
ITEM 5. OTHER INFORMATION
None.
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.
Pursuant to Rule 601 of Regulation SK, the following exhibits are included
herein or incorporated by reference.
Exhibit
Number Description
------ -----------
3.1 Articles of Incorporation*
3.2 By-laws*
31.1 Certification Pursuant to 18 U.S.C. ss. 1350, Section 302
32.1 Certification Pursuant to 18 U.S.C. ss.1350, Section 906
101 Interactive Data Files pursuant to Rule 405 of Regulation S-T
----------
* Incorporated by reference to our S-1 Registration Statement, File
333-174443, filed on May 24, 2011
Reports on Form 8-K
None.
13
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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 this 23rd day of July ,
2012.
ISOFT INTERNATIONAL INC.
Date: July 26, 2012 By: /s/ Mohamed Ayad
--------------------------------------
Name: Mohamed Ayad
Title: President, CEO, Secretary Treasurer
Principal Executive, Financial and
Accounting Officer
1