x
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QUARTERLY REPORT PURSUANT TO
SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
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o
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TRANSITION REPORT PURSUANT TO
SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF
1934
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Nevada
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92-0189305
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(State
or other jurisdiction of
incorporation
or organization)
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(I.R.S.
Employer
Identification
No.)
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Page
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PART
I
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ITEM
1.
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Financial
Statements
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F-1
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ITEM
2.
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Management's
Discussion and Analysis of Financial Condition and Results of
Operations
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4
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ITEM
3.
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Quantitative
and Qualitative Disclosures about Market Risk
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6
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ITEM
4.
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Controls
and Procedures
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6
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ITEM
4T.
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Controls
and Procedures
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PART
II
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ITEM
1.
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Legal
Proceedings
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7
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ITEM 1A.
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Risk
Factors
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7
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ITEM
2.
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Unregistered
Sales of Equity Securities and Use of Proceeds
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7
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ITEM
3.
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Defaults
Upon Senior Securities
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7
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ITEM
4.
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Submission
of Matters to a Vote of Security Holders
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7
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ITEM
5.
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Other
Information
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7
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ITEM
6.
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Exhibits
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7
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Signatures
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8 |
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·
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dependence on key
personnel;
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·
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competitive
factors;
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·
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degree of success of research and
development programs
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·
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the operation of our business;
and
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·
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general economic conditions in
the United States and
Israel.
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Financial
Statements-
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Balance
Sheets as of June 30, 2009 and December 31, 2008
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F-2
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Statements
of Operations for the Three Months and Six Months Ended
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June
30, 2009 and 2008, and Cumulative from Inception
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F-3
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Statement
of Stockholders’ Equity for the Period from Inception
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Through
June 30, 2009
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F-4
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Statements
of Cash Flows for the Six Months Ended
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June
30, 2009 and 2008,and Cumulative from Inception
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F-5
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Notes
to Financial Statements
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F-6
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As
of
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As
of
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|||||||
June
30,
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December
31,
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|||||||
2009
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2008
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(Unaudited)
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(Audited)
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ASSETS
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||||||||
Current
Assets:
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||||||||
Cash
in bank
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$ | 6,114 | $ | 6,354 | ||||
Prepaid
expenses
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- | 287 | ||||||
Total
current assets
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6,114 | 6,641 | ||||||
Total
Assets
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$ | 6,114 | $ | 6,641 | ||||
LIABILITIES AND STOCKHOLDERS'
EQUITY
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||||||||
Current
Liabilities:
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Accounts
payable
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$ | 19,555 | $ | 200 | ||||
Accrued
liabilities
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7,000 | 5,500 | ||||||
Due
to shareholder
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1,750 | 250 | ||||||
Total
current liabilities
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28,305 | 5,950 | ||||||
Total
liabilities
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28,305 | 5,950 | ||||||
Commitments
and Contingencies
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- | - | ||||||
Stockholders'
Equity (Deficit):
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||||||||
Preferred
stock, par value $0.001 per share, 5,000,000 shares authorized; no shares
issued and outstanding
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- | - | ||||||
Common
stock, par value $0.001 per share, 100,000,000 shares authorized;
7,000,000 shares issued and outstanding
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7,000 | 7,000 | ||||||
Additional
paid-in capital
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48,000 | 48,000 | ||||||
Paid
stock subscription
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- | - | ||||||
(Deficit)
accumulated during development stage
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(77,191 | ) | (54,309 | ) | ||||
Total
stockholders' equity (deficit)
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(22,191 | ) | 691 | |||||
Total
Liabilities and Stockholders' Equity (Deficit)
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$ | 6,114 | $ | 6,641 |
Three
Months Ended
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Six
Months Ended
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Cumulative
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June
30,
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June
30,
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From
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2009
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2008
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2009
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2008
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Inception
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(Unaudited)
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(Unaudited)
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(Unaudited)
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(Unaudited)
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(Unaudited)
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Revenues
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$ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Expenses:
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General
and administrative-
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Professional
fees
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17,725 | 2,250 | 21,700 | 12,000 | 67,334 | |||||||||||||||
Filing
fees
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363 | 2,030 | 942 | 2,030 | 3,655 | |||||||||||||||
Officers'
compensation paid by issued shares
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- | - | - | - | 4,750 | |||||||||||||||
Organization
costs
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- | - | - | - | 488 | |||||||||||||||
Other
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182 | 23 | 240 | 574 | 964 | |||||||||||||||
Total
general and administrative expenses
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18,270 | 4,303 | 22,882 | 14,604 | 77,191 | |||||||||||||||
- | ||||||||||||||||||||
(Loss)
from Operations
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(18,270 | ) | (4,303 | ) | (22,882 | ) | (14,604 | ) | (77,191 | ) | ||||||||||
Other
Income (Expense)
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- | - | - | - | - | |||||||||||||||
Provision
for Income Taxes
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- | - | - | - | - | |||||||||||||||
Net
(Loss)
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$ | (18,270 | ) | $ | (4,303 | ) | $ | (22,882 | ) | $ | (14,604 | ) | $ | (77,191 | ) | |||||
(Loss)
Per Common Share:
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(Loss)
per common share - Basic and Diluted
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$ | (0.00 | ) | $ | (0.00 | ) | $ | (0.00 | ) | $ | (0.00 | ) | ||||||||
Weighted
Average Number of Common Shares Outstanding - Basic and
Diluted
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7,000,000 | 7,000,000 | 7,000,000 | 6,879,121 |
(Deficit)
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Accumulated
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Additional
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Paid
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During
the
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Common
stock
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Paid-in
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Stock
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Development
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Description
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Shares
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Amount
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Capital
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Subscriptions
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Stage
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Totals
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Balance
at inception
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- | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||||
Common
stock issued for officers' compensation
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4,750,000 | 4,750 | - | - | - | 4,750 | ||||||||||||||||||
Payment
for stock subscriptions
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- | - | - | 1,000 | - | 1,000 | ||||||||||||||||||
Common
stock issued for cash
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1,250,000 | 1,250 | 24,000 | - | - | 25,250 | ||||||||||||||||||
Net
(loss) for the year
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- | - | - | - | (25,798 | ) | (25,798 | ) | ||||||||||||||||
Balance
- December 31, 2007
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6,000,000 | 6,000 | 24,000 | 1,000 | (25,798 | ) | 5,202 | |||||||||||||||||
Common
stock issued for cash
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1,000,000 | 1,000 | 24,000 | (1,000 | ) | - | 24,000 | |||||||||||||||||
Net
(loss) for the year
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- | - | - | - | (28,511 | ) | (28,511 | ) | ||||||||||||||||
Balance
- December 31, 2008
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7,000,000 | 7,000 | 48,000 | - | (54,309 | ) | 691 | |||||||||||||||||
Net
(loss) for the period
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- | - | - | - | (22,882 | ) | (22,882 | ) | ||||||||||||||||
Balance
- June 30, 2009
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7,000,000 | $ | 7,000 | $ | 48,000 | $ | - | $ | (77,191 | ) | $ | (22,191 | ) |
Six
Months Ended
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Cumulative
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June
30,
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From
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2009
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2008
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Inception
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(Unaudited)
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(Unaudited)
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(Unaudited)
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Operating
Activities:
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Net
(loss)
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$ | (22,882 | ) | $ | (14,604 | ) | $ | (77,191 | ) | |||
Adjustments
to reconcile net (loss) to net cash provided
by operating activities:
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Common
stock issued for officers' compensation
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- | - | 4,750 | |||||||||
Changes
in net assets and liabilities-
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Prepaid
expenses
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287 | (970 | ) | - | ||||||||
Accounts
payable
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19,355 | 750 | 19,555 | |||||||||
Accrued
liabilities
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1,500 | (18,250 | ) | 7,000 | ||||||||
Net
Cash Used in Operating Activities
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(1,740 | ) | (33,074 | ) | (45,886 | ) | ||||||
Investing
Activities:
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Cash
provided by investing activities
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- | - | - | |||||||||
Net
Cash Provided by Investing Activities
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- | - | - | |||||||||
Financing
Activities:
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Loan
from shareholder
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1,500 | - | 1,750 | |||||||||
Issuance
of common stock for cash
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- | 24,000 | 50,250 | |||||||||
Net
Cash Provided by Financing Activities
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1,500 | 24,000 | 52,000 | |||||||||
Net
(Decrease) Increase in Cash
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(240 | ) | (9,074 | ) | 6,114 | |||||||
Cash
- Beginning of Period
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6,354 | 26,440 | - | |||||||||
Cash
- End of Period
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$ | 6,114 | $ | 17,366 | $ | 6,114 | ||||||
Supplemental
disclosure of cash flow information:
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Cash
paid during the period for:
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Interest
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$ | - | $ | - | $ | - | ||||||
Income
taxes
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$ | - | $ | - | $ | - | ||||||
Supplemental
schedule of noncash investing and financing activities:
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Common
stock issued as compensation to officers
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$ | - | $ | - | $ | 4,750 |
2009
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2008
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Current
Tax Provision:
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Federal-
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Taxable
income
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$ | - | $ | - | ||||
Total
current tax provision
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$ | - | $ | - | ||||
Deferred
Tax Provision:
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Federal-
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Loss
carryforwards
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$ | 5,263 | $ | 3,359 | ||||
Change
in valuation allowance
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(5,263 | ) | (3,359 | ) | ||||
Total
deferred tax provision
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$ | - | $ | - |
2009
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2008
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Loss
carryforwards
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$ | 17,754 | $ | 12,491 | ||||
Less
- valuation allowance
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(17,754 | ) | (12,491 | ) | ||||
Total
net deferred tax assets
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$ | - | $ | - |
Exhibit
Number
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Exhibit Description
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3.1
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-
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Certificate
of Incorporation.*
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3.2
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-
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Bylaws.*
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31
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-
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Rule
13a-14(a)/15d-14(a) Certification of Principal Executive and Financial
Officer
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32
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-
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Section
1350 Certification of Principal Executive and Financial
Officer
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By:
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/s/
Nehemya Hesin
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Nehemya
Hesin
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Title:
President, Treasurer and Director
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(Principal Executive Officer, Principal Financing Officer and Principal Accounting Officer)
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