amzz_10qa.htm


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
Form 10-Q
Amendment #1
 
x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
   
For the quarterly period ended October 31, 2013
   
o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
For the transition period from __________ to __________
 
333-174304
Commission File Number
 
Amazonica Corp.
(Exact name of registrant as specified in its charter)
 
Nevada
 
99-0363013
(State or other jurisdiction of incorporation or organization)
 
(I.R.S. Employer Identification No.)
     
187 E. Warm Springs Rd., Suite B160, Las Vegas, NV
 
89119
(Address of principal executive offices)
 
(Zip Code)
 
(702) 297-6776
(Registrant’s telephone number, including area code)
 
_______________________________________________________________________
(Former name, former address and former fiscal year, if changed since last report)

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 o No x
 
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 o No x
 
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
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
 
APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS:

Indicate by check mark whether the registrant filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes o No o
 
APPLICABLE ONLY TO CORPORATE ISSUERS

215,000,000 common shares outstanding as of December 13, 2013
(Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.)



 
 

 
Explanatory Note:

The reason for the filing of this amendment is that there was typographical error on page 2 incorrectly stating the current outstanding shares as of December 13, 2013. In addition, the “shell box” was inadvertently checked off. The Company ceased being a shell on October 30, 2013, when it filed it’s “Super 8K”, thus we are amending to correct this as well. The filing was generally reviewed for any additional typographical errors and inconsistencies. We have made appropriate corrections and have provided a more complete and consistent description of funding requirements over the next 12 months.
 
 
1

 
 
Amazonica, Corp.

TABLE OF CONTENTS

     
Page
 
PART I – Financial Information
     
       
Item 1.
Financial Statements
    3  
Item 2.
Management’s Discussion and Analysis of Financial Condition and Results of Operations
    4  
Item 3.
Quantitative and Qualitative Disclosures About Market Risk
   
7
 
Item 4.
Controls and Procedures
   
7
 
           
PART II – Other Information
       
         
Item 1.
Legal Proceedings
   
8
 
Item 1A.
Risk Factors
       
Item 2.
Unregistered Sales of Equity Securities and Use of Proceeds
   
8
 
Item 3.
Defaults Upon Senior Securities
   
8
 
Item 4.
Mine Safety Disclosures
   
8
 
Item 5.
Other Information
   
8
 
Item 6.
Exhibits
   
9
 
 
Signatures
   
10
 
 
 
2

 
 
PART I – FINANCIAL INFORMATION

 
AMAZONICA, CORP.
 
UNAUDITED FINANCIAL STATEMENTS
FOR THE THREE MONTH PERIODS ENDED OCTOBER 31, 2013 AND OCTOBER 31, 2012
AND FOR THE PERIOD FROM INCEPTION (JUNE 2, 2010) TO OCTOBER 31, 2013

REPORTED IN UNITED STATES DOLLARS

 
ITEM 1. FINANCIAL STATEMENTS

The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions for Form 10-Q and Article 210 8-03 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. All such adjustments are of a normal recurring nature. Operating results for the six month period ended October 31, 2013, are not necessarily indicative of the results that may be expected for the fiscal year ending April 30, 2014. For further information refer to the financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended April 30, 2013 as filed with the Securities and Exchange Commission on August 13, 2013.
 
   
Page
 
Balance Sheets
   
F-1
 
Statements of Operations
   
F-2
 
Statements of Cash Flows
   
F-3
 
Notes to Financial Statements
   
F-4
 

 
3

 
 
AMAZONICA,CORP
(A Development Stage Company)
Balance Sheets
(Unaudited)
 
   
(Unaudited)
   
Audited
 
   
October 31,
2013
   
April 30,
2013
 
ASSETS
Current Assets
           
     Cash
  $ 78,000     $ -  
Other Current Assets
               
     Pre-Paid Expenses
    200,000          
Total Assets
  $ 278,000     $ -  
                 
LIABILITIES AND STOCKHOLDERS EQUITY
Current Liabilities
               
     Accounts payable
  $ 25,178     $ 400  
     Loan from shareholder
    36,187       29,987  
     Accrued interest
    575       -  
     Derivative (Accrued Interest payable)
    1,023       -  
Total Current liabilities
    62,963       30,387  
Long Term Liabilities
               
     Loan from Anton Group Hill
    300,000          
Total Long Term Liabilities
    300,000          
Total Liabilities
    362,963          
                 
     Common stock, $0.001 par value, 1,500,000,000 authorized;
               
     215,000,000 shares issued and outstanding at October 31, 2013
               
     and 616,000,000 at April 30, 2013 respectively.
    215,000       616,000  
     Additional paid-in capital
    (191,200 )     (592,200 )
     Deficit accumulated during exploration stage
    (108,763 )     (54,187 )
Total Stockholder's equity
    (84,963 )     (30,387 )
                 
Total liabilities and stockholders' equity
  $ 278,000     $ -  
 
The accompanying notes are an integral part of these financial statements.
 
 
F-1

 
 
AMAZONICA, CORP
 
(A Development Stage Company)
 
Statements of Operations
(Unaudited)
 
                               
   
Three Months
Ended
 
Three Months
Ended
 
Six Months
Ended
   
Six Months
Ended
   
Inception
June 2, 2010
Through
 
   
October 31, 2013
   
October 31, 2012
   
October 31, 2013
   
October 31, 2012
   
October 31, 2013
 
                               
Expenses
                             
     General and Administative Expenses
    46,121       17,925       52,978       26,050       107,165  
     Amortization expense
    1,023       -       1,023       -       1,023  
     Interest expense
    575       -       575       -       575  
Net Loss
  $ 47,719     $ (17,925 )   $ (54,576 )   $ (26,050 )   $ (108,763 )
                                         
(Loss) per common share-basic and diluted
  $ (0.00 )   $ (0.00 )   $ (0.00 )   $ (0.00 )        
Weighted average number of
                                       
common shares outstanding
    215,000,000       616,000,000       215,000,000       616,000,000          
 
The accompanying notes are an integral part of these financial statements.
 
 
F-2

 
 
AMAZONICA, CORP
 
(A Development Stage Company)
 
Statements of Cash Flows
(Unaudited)
 
                   
   
Six Months Ended
   
Six Months Ended
   
Inception
June 2, 2010
Through
 
   
October 31, 2013
   
October 31, 2012
   
October 31, 2013
 
                   
CASH FLOWS FROM OPERATING ACTIVITIES
             
    Net loss
  $ (54,576 )   $ (26,050 )   $ (108,763 )
    Adjustments to reconcile net loss to net cash
                       
       provided by (used in) operating activities:
                       
       Accrued interest
    575       -       575  
       Derivative (accrued interest payable)
    1,023       -       1,023  
       Pre-paid expenses
    (200,000 )     5,000       (200,000 )
   Changes in operating assets and liabilities:
                       
   Accounts payable
    24,778       -       25,178  
     Net cash used in operating activities
    (228,200 )     (21,050 )     (281,987 )
                         
CASH FLOWS FROM FINANCING ACTIVITIES
                       
     Loan from Anton Group Hill
    400,000       -       400,000  
     Loan from Anton Group Hill debt discount
    (100,000 )     -       (100,000 )
     Proceeds from shareholder advances
    6,200       20,950       36,187  
     Issuance of common stock for cash
    -       -       23,800  
                         
     Net cash provided by financing activities
    306,200       20,950       359,987  
                         
    Net change in cash
    78,000       (100 )     78,000  
                         
    Cash and cash equivalents at beginning of period
    -       83       -  
                         
    Cash and cash equivalents at end of period
  $ 78,000     $ (17 )   $ 78,000  
                         
SUPPLEMENTAL CASH FLOW INFORMATION
                 
                         
Cash paid during year for :
                       
     Interest
  $ -     $ -     $ -  
     Income Taxes
  $ -     $ -     $ -  
                         
NON-CASH ACTIVITIES
  $ -     $ -     $ -  
 
The accompanying notes are an integral part of these financial statements.
 
 
F-3

 
 
AMAZONICA, CORP.
(A Development Stage Company)
Notes To The Financial Statements
October 31, 2013
 
NOTE 1   NATURE OF OPERATIONS

Amazonica, Corp. (the “Company”) was incorporated in the State of Nevada on June 2, 2010, and its year-end is April 30.  The Company is in the development stage with no revenues and limited operating history.
 
On August 30, 2013, there was a complete change in management and as a result the Company has discontinued the distribution of Brazilian hardwood flooring and is now concentrating completely on the evolution of technologies related to the manufacture, research and development related to the production of pure hydrogen. The ultimate goal is the full commercialization of the results of these efforts.
 
On October 16, 2013, the Company submitted to the State of Nevada documentation registering that the Company was now doing business as (d.b.a.) Euro-American Hydrogen Corp.
 
The accompanying unaudited interim financial statements of Amazonica, Corp. 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 (“SEC”) and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s 10K Annual Report 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 our interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements that would substantially duplicate the disclosure contained in the audited financial statements, for fiscal year 2012, as reported, have been omitted.
 
NOTE 2   GOING CONCERN
 
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. The Company has incurred a loss since inception resulting in an accumulated deficit of $( 107,740 ) as at October 31, 2013 and further losses are anticipated in the development of its business raising substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand, loans from directors and/or private placement of common stock.
 
There is no guarantee that the Company will be able to raise any capital through any type of offering.

NOTE 3   STOCKHOLDER’S EQUITY

On May 2, 2013, The Company authorized an Amendment to the Articles of Incorporation, allowing the Company to issue up to a maximum of  one billion, five hundred (1,500,000,000) shares of common stock at par value of $0.001 per share.
 
On May 24, 2013, in accordance with approval from the Financial Industry Regulatory Authority (“FINRA”) the Company’s issued and the outstanding shares of common stock increased from 3,520,000 to 616,000,000 at a par value $0.001 on the basis of a 175:1 forward stock split. The forward split has been retroactively applied to all shares and per share figures in these financial statements.
 
 
F-4

 

On October 4, 2013, a total of 401,000,000 shares of common stock were gifted back to the Company by two shareholders and placed into treasury.  This resulted in a reduction of the number of common shares outstanding.
 
As of October 31, 2013 there are 1,500,000,000 shares of common stock at par value of $0.001 per share authorized and 215,000,000 issued and outstanding.

NOTE 4   RELATED PARTY TRANSACTIONS

On September 30, 2013, the Company entered into a consulting agreement with Michael Soursos, the President of the Company, on an independent contractor basis. The duration of the contract is for 36 months through October 31, 2016 unless terminated earlier by mutual consent. The monetary terms are as follows; $4,000 per month for the first six months, $5,000 per month for the next six months and then $7,500 for the remaining 24 months of the agreement.

As of October 31, 2013, there is an accrued payment due of $4,000 to Mr Soursos.
 
As of October 31, 2013, there are outstanding loans from a shareholder totaling $32 ,187. These advances are unsecured, due on demand and carry no interest or collateral .
 
NOTE 5   OTHER LOANS

On October 24, 2013, the Company obtained financing for further research on the first patent that it filed on October 28, 2013, for pure hydrogen production. At the same time, two hundred and twenty two thousand dollars ($222,000) was paid to CRDF Global (U.S. Civilian Research & Development Foundation) to manage and facilitate the research.

This financing is in the form of an “Unsecured Convertible Promissory Note” (the Note). The principle sum is three hundred thousand dollars ($300,000) and carries a simple interest rate of ten per cent (10%) per annum payable quarterly in arrears. The principle loan can be repaid in whole but not in part with accrued interest, at any time without penalty on the production of a written notice ten days in advance.

The note holder has the option to convert the principle sum plus any accrued interest into non-assessable common shares of stock at a conversion price of seventy-five per cent (75%) of the fair market value of the shares, five days prior to the conversion date. Once the conversion has taken place, it is irrevocable.
 
As of October 31, 2013, there is accrued interest due in the sum of $575.
 
 
F-5

 
 
NOTE 6   OTHER AGREEMENTS
 
On September 27, 2013, The Company, doing business as  Euro American Hydrogen Corp, entered into a an independent consulting agreement with Gennadiy Glazunov, who will join the Scientific Advisory Board of the Company to advise the Company’s management on matters related to strategic planning and business management. The duration of the Agreement is for two years and may be extended for two further years by mutual agreement.  Mr Glazunov’s sole compensation is one thousand dollars ($1,000) per month.
 
These financial statements should also be read in conjunction with Form 8K which was filed with The Securities and Exchange Commission (SEC) on October 24, 2013.

NOTE 7   SUBSEQUENT EVENTS
 
On November 11, 2013, the Company entered into a new Consulting Agreement with Gennadiy Glazunov (“the consultant”), which replaces in its entirety, the one entered into on September 27, 2013.

The consultant will become the initial member and Chairman of the Scientific Advisory Board of the Company which shall be formed in order that the Company shall have the benefit if qualified advice and guidance on the technologies currently being patented by the Company and other technologies that may become available to the Company.

The term of this agreement is initially for two years from the date of execution and may be extended for another two years by mutual agreement.

The consultant’s sole compensation shall be $2,500 per month for the first year and then $1,000 per month for the second year. He shall receive $18,000 upon signing of this agreement and then payments of $1,000 per month thereafter. The consultant is an “Independent Contractor” to the Company and under no circumstances is considered to be an employee.

On November 11, 2013 the Company, doing business as Euro American Hydrogen Corp., entered into a Consulting Agreement with Dymtro Vyngradov (“the consultant”).

The consultant will work with the Scientific Advisory Board on scientific matters and will also advise the Company regarding strategic planning and business development. He will also attend meetings that require a “technical translator” as well as translating documents and advising the Company on any other matters that the Company may request.

The term of this agreement is initially for two years from the date of execution and may be extended for another two years by mutual agreement.

The consultant’s sole compensation shall be $2,500 per month for the first year and then $1,000 per month for the second year. He shall receive $18,000 upon signing of this agreement and then payments of $1,000 per month thereafter. The consultant is an “Independent Contractor” to the Company and under no circumstances is considered to be an employee.
 
 
F-6

 
 
FORWARD LOOKING STATEMENTS

Statements made in this Form 10-Q that are not historical or current facts are "forward-looking statements" made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 (the "Act") and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified by the use of terms such as "may," "will," "expect," "believe," "anticipate," "estimate," "approximate" or "continue," or the negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management's best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events.
 
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION

General

We were incorporated in the State of Nevada on June 2, 2010. Until October 7, 2013 we were in the business of distributing of Brazilian hardwood flooring.  On October 7, 2013, On October 7, 2013, the Company reported the entry into certain agreements between our sole officer and director, Michael Soursos (“Soursos”) and Gennadiy Petrovich Glazunov (“Glazunov”), the holder of certain know how and trade secrets as they relate to pure hydrogen production, whereby Soursos transferred a total of of 64,500,000 shares of our common stock from the 120,000,000 shares of common stock held by Soursos in his personal name to Glazunov and his assigns in exchange for the rights to the know how and trade secrets and the filing of a patent covering such technology in the USA. On October 28, 2013, Glazunov provided the documentation related to the patent and the patent has been filed by the Company’s U.S. patent attorney, with the United States Patent and Trademark Office (“USPTO”).

We have not generated any revenues and the only operations we have engaged in to prior to October 7, 2013 were developing of business plan and executing of an Exclusive Contract for Sale of Goods on April 15, 2011 with Equatorian S.A. Laminados Amazonia, where we engaged Equatorian S.A. Laminados Amazonia as our supplier of hardwood flooring.  On October 16, 2013, the Company submitted to the State of Nevada documentation registering that the Company was now doing business as (d.b.a.) Euro-American Hydrogen Corp., and we have focused on continued development of pure hydrogen production.
 
Plan of Operation
 
With the change in management to Michael Soursos, the new management set about to identify new business opportunities that he believed would allow for the growth of the Company and determined that there was substantive opportunity to progress technologies related to the production of pure hydrogen. Shortly after changing our business focus to the development of hydrogen production related technologies, we identified an opportunity to acquire and file patent rights for hydrogen production technology related to the production of pure hydrogen utilizing a unique one-step process.
 
Results of Operations

We have incurred recurring losses to date. Our financial statements have been prepared assuming that we will continue as a going concern and, accordingly, do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should we be unable to continue in operation.

We expect we will require additional capital to meet our long term operating requirements. We expect to raise additional capital through, among other things, the sale of equity or debt securities.
 
 
4

 
 
Six months ended October 31, 2013 compared to the six months ended October 31, 2012

Our net loss for the six month period ended October 31, 2013 was $ 54,576 compared to a net loss of $26,050 during the six month period ended October 31, 2012 due to a small decrease in general and administrative expenses.

The Company has not generated any revenue since inception.

During the six month periods ended October 31, 2013 and October 31, 2012 respectively, we incurred general and administrative expenses of $ 52,978 and compared to $26,050 incurred during fiscal year ended October 31, 2012.

Liquidity and Capital Resources

As of October 31, 2013, we had $278,000 in assets­­­­­­­­­­­­­­­­­­­ and our total liabilities were $ 362,963 , comprised of $ 36 ,187 loan payable to a shareholder, $575 accrued interest plus $1,075 accrued interest payable (derivative), long term liabilities of $300,000 as a loan payable to Anton Hill Group, LLC and $ 25 ,178 in accounts payable.

The Company may not be able to execute its current business plan and fund business operations long enough to achieve profitability without obtaining financing. The Company has received interim financing from a related party. The Company's ultimate success may depend upon its ability to raise capital. There can be no assurance that funds will be available to the Company when needed from any source or; if available, on terms that are favorable to the Company. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of these uncertainties.
 
Cash Flows from Financing Activities
 
We have financed our operations primarily from either advancements or the issuance of equity and debt instruments. For the period from inception (June 2, 2010) to October 31, 2013, cash provided by financing activities was $ 359 ,987 received from the sale of the issuance of 616,000,000 shares of common stock , shareholder loans and convertible debt.
 
Current cash on hand is insufficient for all of the Company’s commitments for the next 12 months. We anticipate that the additional funding that we require will be in the form of equity financing.
 
We currently have one project related to our business. We will require a minimum of $222,000 to finance our current project over the next 12 months. We have sufficient funding to fund the research and development on the patents, however, we do not have sufficient capital to cover all of our costs for the next twelve months, and there can be no assurance that we will be able to secure such capital.
 
We anticipate that we will require a minimum of $500,000.00 to fund operations for the next twelve months, which should allow for the development of our technology and for the Company to seek acquisitions of technologies and fund development of those technologies related to our planned business.

 
5

 
 
While we have sufficient funding to meet our obligations relating to the development of our technology, we do not have sufficient funding to meet our next twelve month obligations, our ability to meet our financial liabilities and commitments will be dependent upon the continued issuance of equity to new stockholders, the ability to borrow funds, and ultimately upon our ability to achieve and maintain profitable operations. There can be no assurance that financing will be available to us when needed or, if available, that it can be obtained on commercially reasonable terms.

The issuance of additional equity securities by us could result in a significant dilution in the equity interests of our current stockholder. Obtaining commercial loans, assuming those loans would be available, will increase our liabilities and future cash commitments.

We estimate that our expenses over the next 12 months will be approximately $500,000.00 as described in the table below. These estimates may change significantly depending on the nature of our future business activities and our ability to raise capital from shareholders or other sources.
 
Description
 
Estimated
Completion Date
 
Estimated
Expenses
($)
 
Legal and accounting fees
 
12 months
    50,000.00  
Technology Expenditures
 
12 months
    222,000.00  
Management and operating costs
 
12 months
    54,000,00  
Salaries and consulting fees
 
12 months
    12,000.00  
Fixed asset purchases
 
12 months
    12,000.00  
General and administrative expenses
 
12 months
    50,000.00  
Working Capital
 
12 months
    100,000.00  
Total
        500,000.00  

We intend to meet our cash requirements for the next 12 by way of equity and/or debt financings. We have sufficient funding to fund our technology development and some funding for operations but we do not currently have sufficient funding to meet our budget for expenditures for the next twelve months. There is no assurance that any such financing will be available or if available, on terms that will be acceptable to us.
 
We cannot be certain that the required additional financing will be available or available on terms favorable to us. We currently do not have any arrangements or commitments in place for any other financings. If additional funds are raised by the issuance of our equity securities, existing stockholders will experience dilution of their ownership interest. If adequate funds are not available or not available on acceptable terms, we may be unable to fund our operations.
 
We have no lines of credit or other bank financing arrangements. Generally, we have financed operations to date through the proceeds of the private placement of equity and debt instruments. In connection with our business plan, management anticipates additional increases in operating expenses and capital expenditures relating to: (i) acquisition of inventory; (ii) developmental expenses associated with a start-up business; and (iii) marketing expenses. We intend to finance these expenses with equity sales or loans. Additional issuances of equity or convertible debt securities will result in dilution to our current shareholders. Further, such securities might have rights, preferences or privileges senior to our common stock. Additional financing may not be available upon acceptable terms, or at all. If adequate funds are not available or are not available on acceptable terms, we may not be able to take advantage of prospective new business endeavors or opportunities, which could significantly and materially restrict our business operations. 
 
 
6

 

Going Concern

The 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. The Company has incurred losses since inception resulting in an accumulated deficit of $107,740 as of October 31, 2013 and further losses are anticipated in the development of its business raising substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand and loans from directors and/or the sale of equity.

Off-Balance Sheet Arrangements

As of the date of this Quarterly Report, we do not have any 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 investors.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

No report required.

ITEM 4. CONTROLS AND PROCEDURES

Our management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) that is designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management, including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

An evaluation was conducted under the supervision and with the participation of our management of the effectiveness of the design and operation of our disclosure controls and procedures as of October 31, 2013. Based on that evaluation, our management concluded that our disclosure controls and procedures were effective as of such date to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms.

Changes in Internal Controls over Financial Reporting
 
During the quarter ended October 31, 2013, there were no changes in internal control over financial reporting that have materially affected, or are reasonably likely to materially affect our internal control over financial reporting. However, as control of the Company has changed, we have enlisted new service providers and have been tasked with properly managing work flow. We do not anticipate issues with Internal Controls over Financial Reporting in the future.
 
 
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PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

Management is not aware of any legal proceedings contemplated by any governmental authority or any other party involving us or our properties. As of the date of this Quarterly Report, no director, officer or affiliate is (i) a party adverse to us in any legal proceeding, or (ii) has an adverse interest to us in any legal proceedings. Management is not aware of any other legal proceedings pending or that have been threatened against us or our properties.

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

No report required.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

No report required.

ITEM 4. MINE SAFETY DISCLOSURES

No report required.

ITEM 5. OTHER INFORMATION

Changes in Control

No change in control has occurred since the last filing. 
 
 
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ITEM 6. EXHIBITS

Exhibits:

3.1
 
Articles of Incorporation of the Registrant*
     
3.1.1
 
Certificate of Amendment to Articles of Incorporation of Amazonica, Corp. filed with the Secretary of State of the State of Nevada May 2, 2013**
     
3.2
 
Bylaws of the Registrant*
     
10.1
 
Exclusive Contract for Sale of Goods dated April 15, 2011 *
     
10.2
 
Form of Subscription Agreement *
     
10.3
 
Stock Purchase Agreement***
     
10.4
 
Promissory Note***
     
31.2
 
Certification of Principal Financial Officer pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002****
     
32.1
 
Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley****
 
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*****
_____________
*
filed as the corresponding exhibit to the Form S-1 (Registration No. 333-174304) effective as of August 15, 2011
**
filed as the corresponding exhibit to the Current Report on Form 8-K filed by the Company on July 25, 2013
***
filed as the corresponding exhibit to the Current Report on Form 8-K by the Company on September 3, 2013
****
Filed in the original Form 10-Q filed on December 13, 2013
*****
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.
 
 
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SIGNATURES

Pursuant to the requirements 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.
 
 
AMAZONICA, CORP.
 
       
Date: January 22, 2014
By:
/s/ Michael Soursos
 
 
Name:
Michael Soursos
 
 
Title:
Principal Executive Officer and Principal Financial Officer
 
 
 
 
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