Attached files

file filename
EXCEL - IDEA: XBRL DOCUMENT - DLT Resolution Inc.Financial_Report.xls
EX-32.1 - CERTIFICATION - DLT Resolution Inc.nost_ex321.htm
EX-31.1 - CERTIFICATION - DLT Resolution Inc.nost_ex311.htm
EX-31.2 - CERTIFICATION - DLT Resolution Inc.nost_ex312.htm


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 10-Q
 
x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
 
For the quarterly period ended March 31, 2014
 
OR 
 
o TRANSITION REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 
 
Commission file number 333-148546 
 
NSU RESOURCES INC
F/K/A BIO-CARBON SOLUTIONS INTERNATIONAL INC.
(Exact name of registrant as specified in its charter) 
 
Nevada 
 
20-8248213
(State or other jurisdiction of incorporation or organization) 
 
(IRS Employer Identification No.) 
 
305 James Street, Ottawa, Ontario K1R 5M8
(Address of principal executive offices, including zip code.) 
 
(705) 253-0339 x 25
(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 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. 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 the definitions of “large accelerated filed,” “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
Smaller reporting company 
x
(Do not check if a smaller reporting Company)       
 
Indicate by check mark whether the registrant is a shell Company (as defined in Rule 12b-2 of the Exchange Act. Yes  o No  x
 
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date:
 
As of May 20, 2014, the issuer had 156,311,111 shares of common stock outstanding.
 


 
 

 
 
FORWARD-LOOKING STATEMENTS 
 
This Form 10-Q for the quarterly period ended March 31, 2014 contains forward-looking statements that involve risks and uncertainties. Forward-looking statements in this document include, among others, statements regarding our capital needs, business plans and expectations. Such forward-looking statements involve assumptions, risks and uncertainties regarding, among others, the success of our business plan, availability of funds, government regulations, operating costs, our ability to achieve significant revenues, our business model and products and other factors. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict”, “potential” or “continue”, the negative of such terms or other comparable terminology. In evaluating these statements, you should consider various factors, including the assumptions, risks and uncertainties set forth in reports and other documents we have filed with or furnished to the SEC. These factors or any of them may cause our actual results to differ materially from any forward-looking statement made in this document. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding future events, our actual results will likely vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. The forward-looking statements in this document are made as of the date of this document and we do not intend or undertake to update any of the forward-looking statements to conform these statements to actual results, except as required by applicable law, including the securities laws of the United States. 
 
 
2

 

 
FORM 10-Q 
QUARTER ENDED MARCH 31, 2014
 
PART I 
 
FINANCIAL INFORMATION 
 
     
Page
 
Item 1. Financial Statements (Unaudited)      
     
 
 
Unaudited Balance Sheets as of March 31, 2014 and December 31, 2013     4  
 
 
       
Unaudited Statements of Operations for the three months ended March 31, 2014 and 2013 and the period of January 17, 2007 (Inception) to March 31, 2014     5  
 
 
       
Unaudited Statements of Cash Flows for the three months ended March 31, 2014 and 2013 and the period of January 17, 2007 (Inception) to March 31, 2014     6  
 
 
       
Notes to unaudited financial statements     7  
           
Item 2.
Management’s Discussion and Analysis of Financial Condition and Results of Operations
    9  
           
Item 3.
Quantitative and Qualitative Disclosures About Market Risk
    12  
           
Item 4.
Controls and Procedures
    12  
           
PART II - OTHER INFORMATION     13  
           
Item 1.
Legal Proceedings
    13  
           
Item 2.
Unregistered Sales of Equity Securities and Use of Proceeds
    13  
           
Item 3.
Defaults Upon Senior Securities
    13  
           
Item 4.
Submission of Matters to a Vote of Security Holders
    13  
           
Item 5.
Other Information
    13  
           
Item 6.
Exhibits
    14  
 
 
3

 
 
Item 1: Financial Statements
 
NSU RESOURCES INC.
(formerly BIO-CARBON SOLUTIONS INTERNATIONAL, INC.)
(A Development Stage Company)
Balance Sheets
 
 
March 31,
2014
   
December 31,
2013
 
 
(Unaudited)
       
ASSETS
 
Current assets
           
Prepaid expenses
  $ -     $ 800  
Total current assets
    -       800  
                 
Total assets
  $ -     $ 800  
                 
LIABILITIES AND STOCKHOLDERS' DEFICIT
 
                 
Current liabilities
               
Accounts payable and accrued liabilities
  $ 65,635     $ 60,160  
Related party loans
    25,423       19,214  
Total current liabilities
    91,058       79,374  
                 
Stockholders' deficit
               
Preferred stock, $0.001 par value; 5,000,000 shares authorized, no shares issued or outstanding
    -       -  
Common stock, $0.001 par value; 275,000,000 shares authorized; 156,311,111 issued and outstanding at March 31, 2014 and December 31, 2013
    156,311       156,311  
Additional paid in capital
    2,183,990       2,183,990  
Other comprehensive income
    24       24  
Deficit accumulated during the development stage
    (2,431,383 )     (2,418,899 )
Total stockholders' deficit
    (91,058 )     (78,574 )
                 
Total liabilities and stockholders' deficit
  $ -     $ 800  
                 
See accompanying notes to unaudited financial statements.

 
4

 
 
NSU RESOURCES INC.
(formerly BIO-CARBON SOLUTIONS INTERNATIONAL, INC.)
(A Development Stage Company)
Statements of Operations (unaudited)
 
   
Three months ended
March 31,
   
For the period
from January 17, 2007
(inception) to March 31, 
 
   
2014
   
2013
    2014  
Revenue
  $ -     $ -     $ 5,792  
                         
Operating expenses
                       
General and administrative
    -       -       10,570  
Officer compensation
    -       -       159,006  
Professional fees
    12,484       526       140,600  
Total operating expenses
    12,484       526       310,176  
                         
Other income (expense)
                       
Other income
    -       -       41  
Interest expense
    -       -       (40 )
Impairment loss
    -       -       (2,127,000 )
Total other income (expense)
    -       -       (2,126,999 )
                         
Net income (loss) applicable to common shareholders
  $ (12,484 )   $ (526 )   $ (2,431,383 )
                         
Other comprehensive loss
                       
Foreign currency translation adjustment
    -       -       24  
Total comprehensive income (loss)
  $ (12,484 )   $ (526 )   $ (2,431,359 )
                         
Basic and diluted income (loss) per common share
  $ (0.00 )   $ (0.00 )        
                         
Weighted average shares outstanding
    156,311,111       156,311,111          
                         
See accompanying notes to unaudited financial statements.

 
5

 
 
NSU RESOURCES INC.
(formerly BIO-CARBON SOLUTIONS INTERNATIONAL, INC.)
(A Development Stage Company)
Statements of Cash Flows (unaudited)
 
   
Three months ended
March 31,
   
For the period
from January
17, 2007
(inception)
to March
 
   
2014
   
2013
   
 31, 2014
 
Cash flows from operating activities
                 
Net income (loss)
  $ (12,484 )   $ (526 )   $ (2,431,383 )
Adjustments to reconcile net income (loss) to net cash used in operating activities
         
Impairment loss
    -       -       2,127,000  
Common stock issued for services
    -       -       140,000  
Changes in operating assets and liabilities:
                       
Prepaid expenses
    800       -       -  
Accounts payable and accrued liabilities
    5,475       526       90,616  
Net cash provided by (used in) operating activities
    (6,209 )     -       (73,767 )
Net cash used in investing activities
    -       -       -  
                         
Cash flows from financing activities
                       
Proceeds from related party loans
    6,209       -       33,225  
Repayments of related party loans
    -       -       (5,792 )
Contributed capital
    -       -       10,010  
Proceeds from sale of stock
    -       -       36,500  
Payment on cancelled shares
    -       -       (200 )
Net cash provided by financing activities
    6,209       -       73,743  
                         
Effect of exchange rate on cash
    -       -       24  
(Decrease) increase in cash
    -       -       -  
Cash at beginning of period
    -       -       -  
Cash at end of period
  $ -     $ -     $ -  
                         
Non-Cash Investing Activities
                       
Common stock issued for settlement of related party loan and wages payable
  $ -     $ -     $ 166,991  
Common stock issued for prepaid expense
  $ -     $ -     $ 17,000  
Common stock issued for purchase of intangible asset
  $ -     $ -     $ 2,100,000  
Common stock issued for asset acquisition
  $ -     $ -     $ 10,000  
                         
See accompanying notes to unaudited financial statements.
 
 
6

 
 
NSU RESOURCES INC
(formerly BIO-CARBON SOLUTIONS INTERNATIONAL, INC.)
(A Development Stage Company)
Notes to Unaudited Financial Statements
March 31, 2014 and 2013
 
Note 1 - Basis of Presentation
 
The accompanying unaudited interim financial statements of NSU Resources Inc. f/k/a/ Bio-Carbon Solutions International Inc., (collectively referred to herein as “NSU Resources Inc.” “NSU”, or the “Company”), have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements for the period ended December 31, 2013 and notes thereto contained in the Company’s Form 10-K filed with the SEC. 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 interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosure contained in the audited financial statements for fiscal 2012 as reported in the form 10-K have been omitted. 
 
Note 2 - Going Concern 

Although planned principal activities have begun, NSU Resources has only generated minimal revenues of $5,792 to March 31, 2014 and had an accumulated deficit of $2,431,383 as of that date. These matters raise substantial doubt about the Company’s ability to continue as a going concern. Continuation of NSU Resource’s existence depends upon its ability to obtain additional capital. Management’s plans in regards to this matter include raising additional equity financing and borrowing funds under a private credit facility and/or other credit sources. These financial statements do not include any adjustments that might result from the outcome of this uncertainty. During the reporting period, the Company has made contacts with various clients for the purpose of generating carbon assets. Also, the Company has been servicing its current engagement contracts with Sierra Gold Corporation and with companies in Ontario. As financial rewards from these contracts are based on success fees, no receivable has been generated from the execution of these contracts. Management has been engaged in discussions for private placements and loans to support the operations of the Company. The global recession and uncertainty on the stock markets has hampered the development of carbon projects forcing the Company to seek the co-development of carbon opportunities with other activities that may generate revenues. Emphasis has been toward synergizing carbon and mining, construction and energy efficient housing development opportunities.

Note 3 - Significant Accounting Policies

Use of Estimates

The preparation of financial statements, in conformity with generally accepted accounting principles in the United States of America, requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, disclosures of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.
 
Cash Equivalents

The Company considers all highly liquid investments with maturities of three months or less at the time of purchase to be cash equivalents.

Prior Period Conformity

The Company has reclassified balances in the prior period financial statements for conformity with the current period for comparison purposes.
 
 
7

 

NSU RESOURCES INC
(formerly BIO-CARBON SOLUTIONS INTERNATIONAL, INC.)
(A Development Stage Company)
Notes to Unaudited Financial Statements
March 31, 2014 and 2013
 
Note 3 - Significant Accounting Policies (continued)

Income Taxes

The Company accounts for income taxes under the asset and liability method, where 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. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized.

At March 31, 2014, there were no uncertain tax positions that require accrual.

Net Income (Loss) Per Share

Basic loss per share is computed by dividing net income, or loss, by the weighted average number of shares of common stock outstanding for the period. Diluted earnings (loss) per share is computed by dividing net income, or loss, by the weighted average number of shares of common stock outstanding for the period.

Because the Company offered no option or other convertible debt instrument issuances, as of March 31, 2014 and 2013, basic and diluted loss per share was the same as there were no outstanding instruments having a dilutive effect.

Recently Issued Accounting Pronouncements

From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board ("FASB") or other standard setting bodies that are adopted by the Company as of the specified effective date. Unless otherwise discussed, we believe that the impact of recently issued standards that are not yet effective will not have a material impact on our financial position or results of operations upon adoption.
 
Note 4 - Related Party Transactions 

No salaries were paid to directors or executives during the period ended March 31, 2014.

From inception to March 31, 2014, the Company received loans from related parties totaling $33,225 to fund operations. These loans are non-interest bearing, due on demand and, as such, are included in current liabilities. Imputed interest has been considered but was determined to be immaterial to the financial statements as a whole, and because such advances have been made in the ordinary course of business without anticipation of interest being paid or any other economic benefit to be received.

There were no other related party transactions in the quarter.
 
Note 5 - Stockholders’ Equity: Common and Preferred Stock

The authorized capital stock of our Company consists of 275,000,000 shares of common stock, par value $0.001 per share, of which there are currently 156,311,111 issued and outstanding, and 5,000,000 shares of preferred stock, par value $0.001 per share, of which 5,000,000 shares have been designated and issued as Class A Preferred Shares. There were no preferred shares issued or outstanding as of March 31, 2014.
 
Note 6 - Subsequent Events

We have evaluated subsequent events through the date of this filing and determined there are no additional events to disclose.
 
 
8

 
 
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operation; Shareholders’ Equity 
 
Plan of Operations
 
NSU Resources, Inc. is a mineral exploration and carbon development company. Our mission is to become a vertically integrated provider of Rare Earth Elements using carbon solutions. We are targeting growth from the acquisition of mineral and carbon rights worldwide.

Our strategic growth plan:

- Develop proven NI 43-101 compliant ore inventories from high quality properties with potential for providing topside ore of good quality, have access to cost-effective energy sources, and easy access to qualified labor;
- Develop and/or secure tenure on novel cost-effective and environmentally friendly methodologies for the extraction and purification of Rare Earth Elements;
- Develop B2B relationships with users of Rare Earth Elements metals through the Company's extensive contacts in the renewable energy industry;
- Apply the company's technologies to ore extracted from other mining complexes;
- Use cashflow from the sales of products to further develop the company's own mining projects; and,
- Create carbon neutral solutions to the mining and renewable energy supply chain.

NSU Resources continues to pursue expansion in the form of various acquisitions that are pertinent to its strategic vision for aggressive growth. Specific deliverables include and are not limited to:

1. The creation of a business plan for the exploitation of Rare Earth Elements from its 4,200 acres of rare earth claims in the Cobequid Fault Area of Nova Scotia, Canada. Said claims are adjacent to or in the vicinity of claims or exploration projects by other mineral exploration companies in the Cobequid Highlands. Reports of the occurrence of Rare Earth Elements have been made with the Nova Scotia Ministry of Natural Resources by exploration companies in the vicinity. Rare Earth Elements are experiencing rapidly increasing demand for use in green technologies from consumer electronics, electric and hybrid vehicles and power storage for alternative energy sources such as wind and solar. For example the emergence of third generation solar cells with multispectral capabilities and with >40% efficiencies will create significant growth possibilities for the industry. Companies with Rare Earth Elements are re-emerging as a strategic investment opportunity. The first wave started in early 2010 when China began rationing its export of Rare Earth Elements, which led to the emergence of junior miners in the Rare Earths Elements industry.

2. The completion and proving of its technology for the extraction of rare earth minerals using a combination of methodologies that were first developed for the purification of rare chemicals from living tissues. The most exciting aspect on the discovery of Rare Earth Ore minerals in the Cobiquid fault area is the ratio between Heavy Rare Earth Ores (HREO) to the Light Rare Earth Ores (LREO). This is especially significant considering the much greater market value of HREO as compared to LREO. In almost all analyses of the closely related site of Debert Lake the ratio was near or greater than 50% (From Sears 2011). The high levels of HREO over LREO suggests that that a mining venture might be economically feasible, provided the costs of ore extraction are in line with the costs of competing mines. The company plans to adapt, prove and patent its unique rare earth extraction process for the ores specifically found in the Cobequid Highlands of Nova Scotia.
 
 
9

 

3. The demonstration of carbon neutral approaches for the mining sector despite the current lackluster interest in carbon trading schemes. There is still regional interest in Cap and Trade, for example through the Western Climate Initiative. This will permit to augment the yield from Rare Earth Element extraction projects and other mining projects.

The Company was initiated as a provider of carbon offset development solutions (accounting, measuring, reporting, verification and registration) to:
 
·  
Companies with the need to model, monitor and report their carbon footprints;
 
·  
Its own carbon offset development projects—the Company targets developing 1,000,000 hectares from 2011-2016; As a part of this undertaking the Company acquired the mineral rights to 4200 acres of forested lands in the Cobequid Highlands of Colchester County, Nova Scotia in which rare earth elements have been reported.
 
·  
Companies that emit greenhouse gases and are seeking cost-effective carbon offsets—see below the extensive lists of potential greenhouse gases emitters that are subjected to reporting and cap-and-trade regulations; and,
 
·  
Landowners in search of expertise to develop the carbon potential of their properties.

Limited Operating History; Need for Additional Capital 
 
There is no historical financial information about us upon which to base an evaluation of our performance. Our assets and business have not yet generated substantial or recurring 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 due to price and cost increases in services. 

We will require additional financing to cover costs that we expect to incur over the next twelve months. We believe that debt financing will not be an alternative for funding our operations as we do not have tangible assets to secure any debt financing. We anticipate that additional funding will be in the form of equity financing from the sale of our common stock or other securities. However, we cannot provide any assurance that we will be able to raise sufficient funding from the sale of our common stock to fund our plan of operations. In the absence of such financing, we will not be able to continue and our business plan will fail. 

Results of Operations
 
Revenues 
 
Revenues during the three months ended March 31, 2014 and 2013 were $0. We anticipate generating revenues by the third quarter of 2014.
 
Operating Expenses 
 
Total operating expenses were $12,484 during the three months ended March 31, 2014 compared to $526 in the same period in 2013. The increase in the current period is the result of professional fees associated with catching up past due filings with the SEC.
 
 
10

 

Liquidity and Capital Resources 
 
We had no cash or other assets at March 31, 2014 and current liabilities of $91,058 creating a negative working capital balance of $91,058.
 
Cash Used in Operating Activities 
 
Net cash used in operating activities was $6,209 for the three months ended March 31, 2014 compared to $0 used for the same period in 2013. The increase in cash used in operating activities is from the increase in accounts payable from costs associated with catching up our filings with the SEC.
 
Cash from Financing Activities 
 
We have funded our business to date primarily from loans from directors or other related parties. There are no assurances that we will be able to achieve further sales of our common stock or any other form of additional financing. If we are unable to achieve the financing necessary to continue our plan of operations, then we will not be able to continue our operations and our business will fail. 
 
Going Concern 
 
We are a development stage Company. In a development stage company, management devotes most of its activities to developing a market for its products and services. Planned principal activities have begun, clients have entered into material consulting agreements based on contingency fees for which no revenues were generated in 2014 from our current contracts and we have generated minimal revenue since inception.
 
Future Financing 
 
We anticipate continuing to rely on equity sales of our common stock in order to continue to fund our business operations. Issuances of additional shares will result in dilution to our existing shareholders. There is no assurance that we will achieve any additional sales of our equity securities or arrange for debt or other financing to fund our planned operations.
 
Off-Balance Sheet Arrangements 
 
We have no 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. 
 
Lawsuits
 
To management’s knowledge there is no pending, or threatened lawsuit against the Company
 
 
11

 
 
Item 3. Quantitative and Qualitative Disclosures About Market Risk. 
 
As a smaller reporting company, we are not required to provide the information required by this item.
 
Item 4. Controls and Procedures. 
 
Disclosure Controls and Procedures 
 
We maintain disclosure controls and procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934, as amended) that are designed to ensure that information required to be disclosed by us in reports we file or submit under the Securities Exchange Act of 1934, as amended, 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 management, including our Chief Executive Officer (as our chief executive officer and chief financial officer), to allow timely decisions regarding required disclosures. In designing and evaluating the disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives, and management necessarily is required to apply its judgment in evaluating the cost-benefit relationship of possible controls and procedures. As of the end of the period covered by this report, and under the supervision and with the participation of management, including our Chief Executive Officer, who is responsible for establishing and maintaining adequate internal control over financial reporting as such term is defined in Rules 13a-15(f) and 15d-15(f) of the Exchange Act, conducted an evaluation of the effectiveness of the design and operation of these disclosure controls and procedures. Based on this evaluation and subject to the foregoing, our Chief Executive Officer concluded that these controls are not effective considering the level and nature of the Company’s operations and the number and types of transactions concluded by the Company.
 
Changes in Internal Control Over Financial Reporting 
 
During the period covered by this report management of the Company was expanded to include more than one individual. As such, there were significant changes in our internal controls during the period. For example, for the time being and until the operations of the company make this impractical all financial transactions involving the Company, including all payments and all agreed upon incurrences of liabilities, require a signature from, or other approval from, the CEO or CFO of NSU Resources, Inc. Notwithstanding these changes, as the company was previously a shell company owned and managed by one person, management has no reason to believe that the internal controls in place at that time were insufficient. Furthermore, management believes that until the operations of the Company progress to the point where tight control impedes smooth operations, it will be appropriate and sufficient (from the perspective of internal controls over financial reporting) if approval of the CEO and CFO is required for transactions that are or are reasonably likely to require disclosure in the financial statements.
 
 
12

 
 
PART II - OTHER INFORMATION 
 
Item 1. Legal Proceedings. 
 
We are not presently a party to any legal proceedings and, to our knowledge, no such proceedings are threatened or pending. 
 
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 
 
None.
 
Description of Registrant’s Securities to be Registered
 
The authorized capital stock of our Company consists of 275,000,000 shares of common stock, par value $0.001 per share, of which there are currently issued and outstanding, and 156,311,111 shares of preferred stock, excluding the transactions listed under Item 2.
 
All outstanding shares of common stock are of the same class and have equal rights and attributes. The holders of common stock are entitled to one vote per share on all matters submitted to a vote of stockholders of the Company. All stockholders are entitled to share equally in dividends, if any, as may be declared from time to time by the sole director out of funds legally available. In the event of liquidation, the holders of common stock are entitled to share ratably in all assets remaining after payment of all liabilities. The stockholders do not have cumulative or preemptive rights.
 
Item 3. Defaults Upon Senior Securities. 
 
None. 

Item 4. Submission of Matters to a Vote of Security Holders. 
 
None

Item 5. Other Information. 
 
None. 
 
 
13

 
 
Item 6. Exhibits. 
 
The following exhibits are attached hereto: 
 
Exhibit No. 
 
Description of Exhibit 
31.1 
 
Certification of Principal Executive Officer pursuant to Rule 13a-15(e) and 15d-15(e), promulgated under the Securities and Exchange Act of 1934, as amended, filed herewith. 
     
31.2 
 
Certification of Principal Accounting Officer pursuant to Rule 13a-15(e) and 15d-15(e), promulgated under the Securities and Exchange Act of 1934, as amended, filed herewith. 
     
32.1 
 
Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, filed herewith 
     
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
 
** XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.
 
 
14

 

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. 
 
 
  NSU Resources Inc.  
       
Date: May 20, 2014
By:
/s/ Luc C. Duchesne  
   
Luc C. Duchesne
Chief Executive Officer,
(Principal Executive Officer and
Principal Financial Officer)
 
 
 
15