Attached files

file filename
EX-32.02 - CERTIFICATION OF CFO PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT - ROID GROUP, INC.exhibit3202.htm
EX-32.01 - CERTIFICATION OF CEO PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT - ROID GROUP, INC.exhibit3201.htm
EX-31.02 - CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER PURSUANT TO RULE 13A-14 - ROID GROUP, INC.exhibit3102.htm
EX-31.01 - CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER PURSUANT TO RULE 13A-14 - ROID GROUP, INC.exhibit3101.htm



UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_______________


FORM 10-Q

____________


[X]  QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2017


[   ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT OF 1934


For the transition period from ______ to _______


Commission File Number 333-201836


ROID GROUP, INC.

(Name of small business issuer in its charter)


Nevada

 

46-4261474

(State of incorporation)

 

(I.R.S. Employer Identification No.)


Dr. Kwanghyun Kim

Chief Executive Officer

10827 Cloverfield Pt.

San Diego, CA 92131

(Address of principal executive offices)


858.365.1737

 (Registrant’s telephone number)


Copy of all Communications to:

Law Office of Andrew Coldicutt

1220 Rosecrans Street, PMB 258

San Diego, CA 92106

Phone: 619-228-4970

Info@ColdicuttLaw.com


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 (§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]      Emerging growth Company [  ]


If an emerging growth company indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act [  ]


Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).


Yes [   ]  No [X]


As of May 1, 2018, there were 8,575,000 shares of the registrant’s $0.01 par value common stock issued and outstanding.




2





ROID GROUP, INC.*


TABLE OF CONTENTS


 

Page

PART I.  FINANCIAL INFORMATION

 

 

ITEM 1.

FINANCIAL STATEMENTS

4

 

 

 

ITEM 2.

  MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

10

 

 

 

ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

13

 

 

 

ITEM 4.

CONTROLS AND PROCEDURES    

13

 

 

 

PART II.  OTHER INFORMATION

 

 

 

ITEM 1.

LEGAL PROCEEDINGS

14

 

 

 

ITEM 1A.

RISK FACTORS

14

 

 

 

ITEM 2.

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

14

 

 

 

ITEM 3.

DEFAULTS UPON SENIOR SECURITIES

14

 

 

 

ITEM 4.

MINE SAFETY DISCLOSURES

14

 

 

 

ITEM 5.

OTHER INFORMATION

14

 

 

 

ITEM 6.

EXHIBITS

15




Special Note Regarding Forward-Looking Statements


Information included in this Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (“Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (“Exchange Act”). This information may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of ROID Group, Inc. (the “Company”), to be materially different from future results, performance or achievements expressed or implied by any forward-looking statements. Forward-looking statements, which involve assumptions and describe future plans, strategies and expectations of the Company, are generally identifiable by use of the words “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or other variations on these words or comparable terminology. These forward-looking statements are based on assumptions that may be incorrect, and there can be no assurance that these projections included in these forward-looking statements will come to pass. Actual results of the Company could differ materially from those expressed or implied by the forward-looking statements as a result of various factors. Except as required by applicable laws, the Company has no obligation to update publicly any forward-looking statements for any reason, even if new information becomes available or other events occur in the future.


*Please note that throughout this Quarterly Report, and unless otherwise noted, the words "we," “ROID,” "our," "us," the "Company," refers to ROID Group, Inc.



3





PART I - FINANCIAL INFORMATION


ITEM 1. FINANCIAL STATEMENTS





ROID GROUP, INC.


Condensed Financial Statements


(Expressed in US dollars)


September 30, 2017 (unaudited)






Financial Statement Index




Condensed Balance Sheets (unaudited)

5

 

 

Condensed Statements of Operations (unaudited)

6

 

 

Condensed Statements of Cash Flows (unaudited)

7

 

 

Notes to the Condensed Financial Statements (unaudited)

8
















4






ROID GROUP, INC.

BALANCE SHEETS

(EXPRESSED IN US DOLLARS)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2017

 

December 31, 2016

 

 

(Unaudited)

 

(Audited)

Assets

Current Assets

 

 

 

 

 

 

Cash and bank deposit

 

 

$

31,304

 

 

$

26,978

Accrued interest

 

 

6,447

 

 

4,322

Loan receivable from related party

 

 

114,000

 

 

114,000

Other receivable

 

 

9,573

 

 

4,786

Total Assets

 

 

$

161,324

 

 

$

150,086

 

 

 

 

 

 

 

Liabilities and Shareholders' Equity

Accounts payable and accrued liabilities

 

 

$

7,505 

 

 

$

5,755 

Payroll liabilities

 

 

 

 

84 

Due to Related party

 

 

10,000 

 

 

2,800 

Total Liabilities

 

 

17,505 

 

 

8,639 

 

 

 

 

 

 

 

Shareholders' Equity

 

 

 

 

 

 

Common Stock

 

 

 

 

 

 

   30,000,000 shares authorized, $0.01 par value

 

 

 

 

 

 

   8,575,000 shares issued and outstanding

 

 

 

 

 

 

   as of September 30, 2017, and December 31, 2016

 

 

85,750 

 

 

85,750 

Additional paid-in capital

 

 

513,471 

 

 

489,250 

Accumulated deficit

 

 

(455,402)

 

 

(433,553)

Total Shareholders' Equity

 

 

143,819 

 

 

141,447 

Total Liabilities and Shareholders' Equity

 

 

$

161,324 

 

 

$

150,086 




The accompanying condensed notes are an integral part of these financial statements













5






ROID GROUP, INC.

STATEMENTS OF OPERATIONS (Unaudited)

(EXPRESSED IN US DOLLARS)

For three months and nine months ended September 30, 2017 and 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months ended

 

Nine Months ended

 

 

September 30, 2017

 

September 30, 2016

 

September 30, 2017

 

September 30, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

 

$

 

 

$

 

 

$

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

Selling, General and administrative expenses

 

 

 

 

 

 

 

 

 

 

 

 

Professional fees

 

 

5,250 

 

 

4,000 

 

 

11,773 

 

 

14,500 

Payroll expenses

 

 

 

 

 

 

252 

 

 

49,436 

Administrative expense

 

 

734 

 

 

997 

 

 

3,799 

 

 

3,120 

Transfer agent fee

 

 

300 

 

 

1,360 

 

 

950 

 

 

13,860 

Rent expense

 

 

2,400 

 

 

2,400 

 

 

7,200 

 

 

7,200 

Total expenses

 

 

8,684 

 

 

8,757 

 

 

23,974 

 

 

88,116 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

 

718 

 

 

627 

 

 

2,125 

 

 

1,861 

Total other income

 

 

718 

 

 

627 

 

 

2,125 

 

 

1,861 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net operating loss

 

 

$

(7,966)

 

 

$

(8,130)

 

 

$

(21,849)

 

 

$

(86,255)

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss per share

 

 

$

(0.00)

 

 

$

(0.00)

 

 

$

(0.00)

 

 

$

(0.01)

Weighted Average Shares Outstanding

 

 

8,575,000 

 

 

8,575,000 

 

 

8,575,000 

 

 

8,575,000 






The accompanying condensed notes are an integral part of these financial statements




6







ROID GROUP, INC.

STATEMENTS OF CASH FLOWS (Unaudited)

(EXPRESSED IN US DOLLARS)

For Nine months ended September 30, 2017 and 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months ended

 

 

September 30, 2017

 

September 30, 2016

 

 

 

 

 

 

 

Cash flows from operating activities

 

 

 

 

 

 

Net loss

 

 

$

(21,849)

 

 

$

(86,255)

Adjustments to reconcile net loss cash used in

 

 

 

 

 

 

operating activities;

 

 

 

 

 

 

Cancellation of payroll

 

 

24,221 

 

 

 

Changes in operating assets and liabilities:

 

 

 

 

 

 

   Prepaid expenses

 

 

 

 

(850)

  Accrued interest

 

 

(2,125)

 

 

(1,861)

  Other receivable

 

 

(4,787)

 

 

(3,191)

  Accounts payable and accrued liabilities

 

 

1,750 

 

 

2,560 

  Due to related party

 

 

7,200 

 

 

  Payroll liabilities

 

 

(84)

 

 

(1,602)

Net cash used in operating activities

 

 

4,326 

 

 

(91,199)

 

 

 

 

 

 

 

Investing activities

 

 

 

 

 

 

  Loan receivable

 

 

 

 

(15,000)

Net cash provided by (used in) investment activities

 

 

 

 

(15,000)

 

 

 

 

 

 

 

Financing activities

 

 

 

 

 

 

 

 

 

 

 

 

 

Proceeds from stock issuance

 

 

 

 

Net cash provided by financing activities

 

 

 

 

 

 

 

 

 

 

 

Net cash increase

 

 

4,326 

 

 

(106,199)

Beginning cash balance

 

 

26,978 

 

 

144,380 

Ending cash balance

 

 

$

31,304 

 

 

$

38,181 

 

 

 

 

 

 

 

Supplemental disclosure of cash flow information

 

 

 

 

 

 

Cash paid for interest

 

 

$

 

 

$

Cash paid for tax

 

 

$

 

 

$


The accompanying condensed notes are an integral part of these financial statements




7






ROID Group, Inc.

Notes to the Financial Statements

September 30, 2017 (Unaudited)

(Expressed in US Dollars)

 

 

 

 

 

 

 

 

 


1.

Nature of Business and Continuance of Operations


ROID Group, Inc. (the “Company”) was incorporated in the State of Nevada on December 4, 2013. The company is the process of implementing its business plan, and its efforts were primarily devoted to the establishment and start-up of its business.


ROID Group, Inc. plan to do mainly marketing of quantum dot (QD) materials for bio-imaging based on unique technology compared to other completive company like Nanosys Inc’s QD, in U.S.A., the QD materials for bio-imaging has been already developed in Korea as a lab scale product. It means the production of the QD materials will be in Korea. ROID Group, Inc. will also do financing for the QD production & marketing. Besides, ROID Group, Inc. will do consulting Korean companies which are ready to do business in U.S.A. and for world-wide market.  


2.

Basis of Presentation and Going Concern Considerations


The accompanying unaudited condensed financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X.  Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements.  In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included.  Operating results for the six months ended September 30, 2017 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2017.


For further information, refer to the financial statements and footnotes thereto included in the Company’s Annual Report for the year ended December 31, 2016. These unaudited interim condensed financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto for the year ended December 31, 2016, included in the Company’s Form 10-K filed on July 27, 2017, with the SEC.


These financial statements have been prepared on a going concern basis, which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. For the period from inception on December 4, 2013 through September 30, 2017, the Company has incurred accumulated losses totalling $455,402. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary equity financing to continue operations, and the attainment of profitable operations. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.


3.

Related Party Transactions


a)

The Company rents office from related party which is an officer. Rental is $800 per month and month to month basis. Total rental is $7,200 for the nine months ended September 30, 2017 ($7,200 for the nine months ended September 30, 2016). As of September 30, 2017, and December 31, 2016, outstanding rentals were $10,000 and $2,800, respectively.



8






b)

The Company paid salary of $nil for the three months and nine months ended September 30, 2017 ($nil and $45,000 for the three months and nine months ended September 30, 2016) for two officers. On July 29, 2016, the Company decided not to pay the payroll of two officers from July 2016. The Company will restart the payment at the time of the future normalization of its business. On May 17, 2017, the Company cancelled payroll for April, May and September 2016 and recorded $24,221 as additional paid in capital.


4.

Loan receivable


On August 18, 2015, the Company entered loan agreement of $250,000 with ADQD, Inc., a related party. Dr. Kim, an officer of the Company, is an officer of ADQD, Inc. too. Interest rate is 2.5% and maturity was August 18, 2016. On August 13, 2016, the Company agreed to extend maturity to August 18, 2017. On November 6, 2015, the Company got paid $151,000. As of September 30, 2017, and December 31, 2016, $99,000 is outstanding. As of September 30, 2017, accrued interest of $6,069 ($4,225 as of December 31, 2016) was recorded.


On September 28, 2016, the Company entered loan agreement of $15,000 with RadTek, Inc., a related party. Dr. Kim, an officer of the Company, is of an officer of RadTek, Inc. too. Interest rate is 2.5% and maturity is September 29, 2017. As of September 30, 2017, and December 31, 2016, $15,000 is outstanding. As of September 30, 2017, accrued interest of $378 ($98 as of December 31, 2016) was recorded.  


5.

Stockholders’ Equity


The Company’s authorized capital consists of 30,000,000 shares of common stock with a par value of $0.01 per share.


On December 4, 2013, the Company issued 1,000,000 shares to director for $10,000.


On December 4, 2013, the Company issued 5,000,000 shares to two officers for rendered service amounted to $50,000.


On December 31, 2013, the company issued 450,000 shares to 6 investors for $90,000.


On January 31, 2014, the Company issued 675,000 shares for $135,000.


On March 31, 2014, the Company issued 1,450,000 shares for $290,000.


As of September 30, 2017, the Company has issued and outstanding 8,575,000 common shares.


6.

Subsequent events


Management has reviewed and evaluated subsequent events through the date on which the current financial statements were issued and did not note any material recognizable subsequent events after September 30, 2017.













9






ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION OR PLAN OF OPERATION


FORWARD-LOOKING STATEMENTS


This Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A) contains forward-looking statements that involve known and unknown risks, significant uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed, or implied, by those forward-looking statements. You can identify forward-looking statements by the use of the words may, will, should, could, expects, plans, anticipates, believes, estimates, predicts, intends, potential, proposed, or continue or the negative of those terms. These statements are only predictions. In evaluating these statements, you should consider various factors which may cause our actual results to differ materially from any forward-looking statements. Although we believe that the exceptions reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.


RESULTS OF OPERATIONS


Working Capital


 

September 30,

2017

$

December 31, 2016

$

Current Assets

 161,324 

150,086

Current Liabilities

17,505

8,639

Working Capital (Deficit)

143,819

141,447


Cash Flows


 

September 30,

2017

$

September 30,

2016

$

Cash Flows provided by (used in) Operating Activities

 4,326

(91,199)

Cash Flows provided by Financing Activities

 - 

 - 

Cash Flows used in Investing Activities

-

(15,000)

Net Increase (decrease) in Cash During Period

4,326

(106,199)


Results for the Three Months Ended September 30, 2017 Compared to the Three Months Ended September 30, 2016


Operating Revenues


The Company’s revenues were $nil for the three months ended September 30, 2017 compared to $nil for the same period in 2016.


Cost of Revenues


The Company’s cost of revenues was $nil for the three months ended September 30, 2017 compared to $nil for the same period in 2016.


Gross Profit


For the three months ended September 30, 2017, the Company’s gross profit was $nil compared to $nil for the same period in 2016.



10






General and Administrative Expenses


General and administrative expenses consisted primarily of consulting fees, professional fees, travel, meals and entertainment relating to being a public company.  For the three months ended September 30, 2017 and September 30, 2016, general and administrative expenses decreased to $8,684 from $8,757 for the same period in 2016 representing a decrease of $73 or .83%.  The $73 decrease is primarily attributable to a decrease of $1,060 in Transfer Agent fees.


Other Income (Expense)


Other income (expense) consisted of interest income from related party.  For the three months ended September 30, 2017, there was a $718 gain from interest income. There was a $627 gain on interest income for the same period in 2016.


Net Income (loss)


Our net loss for the three months ended September 30, 2017, was $(7,966) compared with net loss of $(8,130) for the three months ended September 30, 2016, a decrease of $164 or 2%. The net loss is influenced by the matters discussed above.


Results for the Nine Months Ended September 30, 2017 Compared to the Nine Months Ended September 30, 2016


Operating Revenues


The Company’s revenues were $nil for the nine months ended September 30, 2017 compared to $nil for the same period in 2016.


Cost of Revenues


The Company’s cost of revenues was $nil for the nine months ended September 30, 2017 compared to $nil for the same period in 2016.


Gross Profit


For the nine months ended September 30, 2017, the Company’s gross profit was $nil compared to $nil for the same period in 2016.


General and Administrative Expenses


General and administrative expenses consisted primarily of consulting fees, professional fees, travel, meals and entertainment relating to being a public company.  For the nine months ended September 30, 2017 and September 30, 2016, general and administrative expenses decreased to $23,974 from $88,116 for the same period in 2016 representing a decrease of $64,142 or 73%.  The $64,142 decrease is primarily attributable to a decrease of $49,184 in payroll expenses.


Other Income (Expense)


Other income (expense) consisted of interest income from related party.  For the nine months ended September 30, 2017, there was a $2,125 gain from interest income. There was a $1,861 gain on interest income for the same period in 2016.


Net Income (loss)


Our net loss for the nine months ended September 30, 2017, was $(21,849) compared with net loss of $(86,255) for the nine months ended September 30, 2016, a decrease of $64,406 or 75%. The net loss is influenced by the matters discussed above.




11






Liquidity and Capital Resources


The ability of the Company to continue as a going concern is dependent on the Company’s ability to raise additional capital and implement its business plan.  Since its inception, the Company has been funded by related parties through capital investment and borrowing of funds.


At September 30, 2017, the Company had total current assets of $161,324 compared to $150,086 at December 31, 2016.  Current assets consisted primarily of cash, and a loan receivable. The increase in current assets $11,238 was primarily attributed to an increase in cash of $4,326 and an increase in Other receivable of $4,787 and in an accrued interest of $2,125.


At September 30, 2017, the Company had total current liabilities of $17,505 compared to $8,639 at December 31, 2016.  Current liabilities consisted primarily of the accounts payable accrued liabilities, and due to a related party. The increase in our current liabilities was attributed to the increase in the amounts owed to related party and the increase in Accounts payable and accrued liabilities of $1,750.


We had positive working capital of $143,819 as of September 30, 2017 compared to $141,447 as of December 31, 2016, an increase of $2,372 or 1.7%.


Cashflow from Operating Activities


During the nine months ended September 30, 2017, cash provided by (used in) operating activities was $4,326 compared to $(91,999) for the nine months ended September 30, 2016. The decrease in the amounts of cash used for operating activities was primarily due to the cancellation of payroll, and decreased transfer agent fees.


Cashflow from Investing Activities


During the nine months ended September 30, 2017 cash used in investing activities was $nil compared to $(15,000) for the nine months ended September 30, 2016.


Cashflow from Financing Activities


During the nine months ended September 30, 2017, cash provided by financing activity was $nil compared to $nil provided during the nine months ended September 30, 2016.  


Going Concern


We have not attained profitable operations and are dependent upon obtaining financing to pursue any extensive acquisitions and activities. For these reasons, our auditors stated in their report on our audited financial statements that there is substantial doubt about our ability to continue as a going concern without further financing.


Future Financings


We will continue to rely on equity sales of our common shares in order to continue to fund our business operations. Issuances of additional shares will result in dilution to existing stockholders. There is no assurance that we will achieve any additional sales of the equity securities or arrange for debt or other financing to fund our operations and other activities.


Impact of Inflation


We believe that the rate of inflation has had a negligible effect on our operations.


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 are material to stockholders.



12






Critical Accounting Policies


Our financial statements and accompanying notes have been prepared in accordance with United States generally accepted accounting principles applied on a consistent basis. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods.


We regularly evaluate the accounting policies and estimates that we use to prepare our financial statements. A complete summary of these policies is included in the notes to our financial statements. In general, management's estimates are based on historical experience, on information from third party professionals, and on various other assumptions that are believed to be reasonable under the facts and circumstances. Actual results could differ from those estimates made by management.


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 us 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 consolidated financial position or results of operations upon adoption.


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.


ITEM 4.  CONTROLS AND PROCEDURES


Evaluation of Disclosure Controls and Procedures


Disclosure controls and procedures are controls and procedures that are designed to ensure that information required to be disclosed in our reports filed under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the SEC's rules and forms.  Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by our company in the reports that it files or submits under the Exchange Act is accumulated and communicated to our management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure. Our management carried out an evaluation under the supervision and with the participation of our Principal Executive Officer and Principal Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures pursuant to Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 ("Exchange Act").  Based upon that evaluation, our Principal Executive Officer and Principal Financial Officer have concluded that our disclosure controls and procedures were not effective as of September 30, 2017, due to the material weaknesses resulting from the Board of Directors not currently having any independent members and no director qualifies as an audit committee financial expert as defined in Item 407(d)(5)(ii) of Regulation S-K, and controls were not designed and in place to ensure that all disclosures required were originally addressed in our financial statements.  Please refer to our Annual Report on Form 10-K as filed with the SEC on July 27, 2017, for a complete discussion relating to the foregoing evaluation of Disclosures and Procedures.

 

Changes in Internal Control over Financial Reporting

 

Our management has also evaluated our internal control over financial reporting, and there have been no significant changes in our internal controls or in other factors that could significantly affect those controls subsequent to the date of our last evaluation.

 

The Company is not required by current SEC rules to include, and does not include, an auditor's attestation report. The Company's registered public accounting firm has not attested to Management's reports on the Company's internal control over financial reporting.




13





PART II - OTHER INFORMATION


ITEM 1.  LEGAL PROCEEDINGS


We know of no material, existing or pending legal proceedings against our company, nor are we involved as a plaintiff in any material proceeding or pending litigation. There are no proceedings in which our director, officer or any affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our interest.


ITEM 1A.  RISK FACTORS


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.


ITEM 2.  UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS


1. Quarterly Issuances:


None.


2. Subsequent Issuances:



None.


ITEM 3.  DEFAULTS UPON SENIOR SECURITIES


None.


ITEM 4.  MINE SAFETY DISCLOSURES


Not applicable.


ITEM 5.  OTHER INFORMATION


None.




14





ITEM 6.  EXHIBITS


Exhibit Number

Description of Exhibit

 

 

Filing

3.1

Articles of Incorporation

 

 

Filed with the SEC on February 3, 2015 as part of the Company’s Registration Statement on Form S-1.

3.2

Bylaws

 

 

Filed with the SEC on February 3, 2015 as part of the Company’s Registration Statement on Form S-1.

10.01

Loan Agreement by and between the Company and RadTek, dated April 1, 2014.

 

 

Filed with the SEC on February 3, 2015 as part of the Company’s Registration Statement on Form S-1.

10.02

Loan Agreement by and between the Company and RadTek, dated May 1, 2014.

 

 

Filed with the SEC on February 3, 2015 as part of the Company’s Registration Statement on Form S-1..

10.03

Employment Agreement by and between the Company and Dr. Kwanghyun Kim, dated December 10, 2013.

 

 

Filed with the SEC on May 26, 2015 as part of the Company’s Amended Registration Statement on Form S-1/A.

10.04

Employment Agreement by and between the Company and Myoungae Cha, dated January 1, 2014.

 

 

Filed with the SEC on May 26, 2015 as part of the Company’s Amended Registration Statement on Form S-1/A.

10.05

Employment Agreement by and between the Company and Jeahyung Cho, dated April 1, 2015.

 

 

Filed with the SEC on May 26, 2015 as part of the Company’s Amended Registration Statement on Form S-1/A.

10.06

Employment Agreement by and between the Company and Jun-Young Yang, dated April 1, 2015.

 

 

Filed with the SEC on May 26, 2015 as part of the Company’s Amended Registration Statement on Form S-1/A.

31.01

Certification of Principal Executive Officer Pursuant to Rule 13a-14

 

 

Filed herewith.

31.02

Certification of Principal Financial Officer Pursuant to Rule 13a-14

 

 

Filed herewith.

32.01

Certification of CEO Pursuant to Section 906 of the Sarbanes-Oxley Act

 

 

Filed herewith.

32.02

Certification of CFO Pursuant to Section 906 of the Sarbanes-Oxley Act

 

 

Filed herewith.

101.INS*

XBRL Instance Document

 

 

Furnished herewith.

101.SCH*

XBRL Taxonomy Extension Schema Document

 

 

Furnished herewith.

101.CAL*

XBRL Taxonomy Extension Calculation Linkbase Document

 

 

Furnished herewith.

101.LAB*

XBRL Taxonomy Extension Labels Linkbase Document

 

 

Furnished herewith.

101.PRE*

XBRL Taxonomy Extension Presentation Linkbase Document

 

 

Furnished herewith.

101.DEF*

XBRL Taxonomy Extension Definition Linkbase Document

 

 

Furnished herewith.


*Pursuant to Rule 406T of Regulation S-T, the Interactive Data Files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.






15





SIGNATURES


In accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


ROID GROUP, INC.



Dated: May 8, 2018

/s/ Dr. Kwanghyun Kim

By: Dr. Kwanghyun Kim

Its: President, Principal Executive Officer & Principal Financial Officer (Principal Accounting Officer)



Pursuant to the requirement of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Company and in the capacities and on the dates indicated:



Dated: May 8, 2018

/s/ Dr. Kwanghyun Kim

Dr. Kwanghyun Kim – Director


Dated: May 8, 2018

/s/ Dr. Dokyung Kim

Dr. Dokyung Kim – Director



16