link10q083108.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 August
31, 2008
o Transition Report Under
Section 13 Or 15(D) Of The Securities Exchange Act Of 1934
For the
transition period from _____ to _____
COMMISSION
FILE NUMBER 333-153102
LINK RESOURCES
INC.
(Exact
name of registrant as specified in its charter)
NEVADA
|
98-0588402
|
(State
or other jurisdiction of incorporation or organization)
|
(I.R.S.
Employer Identification No.)
|
392 Acadia Drive S.E.,
Calgary, Alberta, Canada T2J 0A8
(Address
of principal executive offices, including zip code)
403-230-0945
(Issuer’s
telephone number, including area code)
Check
whether the issuer (1) filed all reports required to be filed by section 13 or
15(d) of the Exchange Act 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 o No x
Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a small reporting company. See
the definitions of “large accelerated filer,” “accelerated filer,”
“non-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
|
Indicate by check mark
whether the registrant is a shell company (as defined in Rule 12b-2 of the
Exchange Act). Yes x
No o
State the number of shares
outstanding of each of the issuer’s classes of common equity, as of the latest
practicable date. 3,450,000
shares of common stock as of
October
14,
2008
PART
I. FINANCIAL INFORMATION
Item
1. Financial Statements
The
following consolidated interim unaudited financial statements of Link Resources
Inc. (the “Company”) for the three month period ended August 31, 2008 are
included with this Quarterly Report on Form 10-Q:
|
(a)
|
Consolidated
Balance Sheets as of August 31, 2008 and May 31,
2008;
|
|
(b)
|
Consolidated
Statements of Operations for three months ended August 31, 2008, and for
the period from January 9, 2008 (Inception) to August 31,
2008.
|
|
(c)
|
Consolidated
Statements of Cash Flows for the three months ended August 31, 2008, and
for the period from January 9, 2008 (Inception) to August 31,
2008.
|
|
(d)
|
Condensed
Notes to Financial Statements.
|
LINK
RESOURCES INC.
|
(A
Development Stage Company)
|
Balance
Sheet
|
As
at August 31, 2008
|
|
|
|
|
|
|
|
ASSETS
|
|
|
August 31,
|
|
|
May
31,
|
|
|
|
2008
|
|
|
2008
|
|
|
|
(Unaudited)
|
|
|
|
|
CURRENT
ASSETS
|
|
|
|
|
|
|
Cash
and Cash Equivalents
|
|
$ |
28,873 |
|
|
$ |
47,768 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL
ASSETS
|
|
$ |
28,873 |
|
|
$ |
47,768 |
|
|
|
|
|
|
|
|
|
|
LIABILITIES
& STOCKHOLDERS' EQUITY
|
|
|
|
|
|
|
|
|
|
CURRENT
LIABILITES
|
|
$ |
- |
|
|
$ |
- |
|
|
|
|
|
|
|
|
|
|
Commitments
and contingencies (Note 4)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
STOCKHOLDERS'
EQUITY
|
|
|
|
|
|
|
|
|
Common
Stock, $0.001 par value, 75,000,000 shares authorized,
|
|
|
|
|
|
|
|
|
3,450,000 shares
issued and outstanding
|
|
|
3,450 |
|
|
|
3,450 |
|
Additional
paid-in capital
|
|
|
50,550 |
|
|
|
50,550 |
|
Deficit
accumulated in the development stage
|
|
|
(25,127 |
) |
|
|
(6,232 |
) |
|
|
|
|
|
|
|
|
|
Total
Stockholders' Equity
|
|
|
28,873 |
|
|
|
47,768 |
|
|
|
|
|
|
|
|
|
|
TOTAL
LIABILITIES AND STOCKHOLDERS' EQUITY
|
|
$ |
28,873 |
|
|
$ |
47,768 |
|
See
accompanying condensed notes to interim financial statements.
LINK
RESOURCES INC.
|
(A
Development Stage Company)
|
Statement
of Operations
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
For
the period
|
|
|
|
|
|
|
of
Inception,
|
|
|
|
For
the three
|
|
|
from
Jan. 9,
|
|
|
|
months
ended
|
|
|
2008
through
|
|
|
|
August
31,
|
|
|
August
31,
|
|
|
|
2008
|
|
|
2008
|
|
|
|
|
|
|
|
|
Revenues
|
|
$ |
- |
|
|
$ |
- |
|
|
|
|
|
|
|
|
|
|
Costs
and Expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mineral
Lease
|
|
|
4,196 |
|
|
|
9,196 |
|
Consulting
|
|
|
1,500 |
|
|
|
1,500 |
|
Professional
Fees
|
|
|
13,156 |
|
|
|
13,156 |
|
Other
General & Administrative
|
|
|
43 |
|
|
|
1,275 |
|
|
|
|
|
|
|
|
|
|
Total
Expenses
|
|
|
18,895 |
|
|
|
25,127 |
|
|
|
|
|
|
|
|
|
|
Operating
Loss
|
|
|
(18,895 |
) |
|
|
(25,127 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
Income (Loss)
|
|
$ |
(18,895 |
) |
|
$ |
(25,127 |
) |
|
|
|
|
|
|
|
|
|
Basic
and Dilutive net loss per share
|
|
|
(0.01 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted
average number of shares outstanding, basic and diluted
|
|
|
3,450,000 |
|
|
|
|
|
See
accompanying condensed notes to interim financial statements.
LINK
RESOURCES INC.
|
(A
Development Stage Company)
|
Statements
of Cash Flows
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
For
the period
|
|
|
|
|
|
|
of
Inception,
|
|
|
|
For
the three
|
|
|
from
Jan. 9,
|
|
|
|
months
ended
|
|
|
2008
through
|
|
|
|
August
31,
|
|
|
August
31,
|
|
|
|
2008
|
|
|
2008
|
|
|
|
|
|
|
|
|
CASH
FLOWS FROM OPERATING ACTIVITIES:
|
|
|
|
|
|
|
Net
Income (Loss)
|
|
$ |
(18,895 |
) |
|
$ |
(6,232 |
) |
Adjustments
to reconcile net loss to net cash used by operating
activities:
|
|
|
|
|
|
|
|
|
Change
in operating assets and liabilities:
|
|
|
|
|
|
|
|
|
(Increase)
Decrease in accounts receivable
|
|
|
|
|
|
|
|
|
Net
Cash provided by (used by) Operating Activities
|
|
|
(18,895 |
) |
|
|
(6,232 |
) |
|
|
|
|
|
|
|
|
|
CASH
FLOWS FROM INVESTING ACTIVITIES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
Cash (used by) Investing Activities
|
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
CASH
FLOWS FROM FINANCING ACTIVITIES
|
|
|
|
|
|
|
|
|
Proceeds
from the sale of Common Stock
|
|
|
- |
|
|
|
54,000 |
|
Net Cash provided by Financing Activities
|
|
|
- |
|
|
|
54,000 |
|
|
|
|
|
|
|
|
|
|
NET
INCREASE IN CASH
|
|
|
(18,895 |
) |
|
|
47,768 |
|
|
|
|
|
|
|
|
|
|
CASH
AT BEGINNING OF PERIOD
|
|
|
47,768 |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
CASH
AT END OF PERIOD
|
|
$ |
28,873 |
|
|
$ |
47,768 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CASH
PAID FOR:
|
|
|
|
|
|
|
|
|
Interest
|
|
$ |
- |
|
|
$ |
- |
|
Income
Taxes
|
|
$ |
- |
|
|
$ |
- |
|
See
accompanying condensed notes to interim financial statements.
Link
Resources, Inc.
(A
Developmental Stage Company)
Notes
to Financial Statements
August
31, 2008
1.
Organization
Link
Resources, Inc. (the “Company”) was incorporated under the laws of the State of
Nevada January 9, 2008. The company was formed for mineral
exploration in the United States. The Company entered into a Mineral
Lease Agreement on April 1, 2008 for 2 mining claims in Pershing County, Nevada,
in an area known as the Goldbanks East Prospect.
2.
Summary of Significant Accounting Policies
Basis of
Presentation
The
financial statements of the Company have been prepared using the accrual basis
of accounting in accordance with generally accepted accounting principles in the
United States. Because a precise determination of many assets and
liabilities is dependent upon future events, the preparation of financial
statements for a period necessarily involves the use of estimates which have
been made using careful judgment.
Use of
Estimates
The
preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America requires management to make
certain estimates and assumptions that affect the reported amounts of assets and
liabilities at the date of the financial statements, and reported amounts of
revenue and expenses during the reporting period. Actual results
could differ materially from those estimates. Significant estimates made by
management are, among others, realizability of long-lived assets, deferred taxes
and stock option valuation.
The
financial statements have, in management’s opinion, been properly prepared
within the reasonable limits of materiality and within the framework of the
significant accounting.
Income
Taxes
The
Company utilizes SFAS No. 109, “Accounting for Income Taxes,” which requires the
recognition of deferred tax assets and liabilities for the expected future tax
consequences of events that have been included in the financial statements or
tax
returns. Under
this method, deferred tax assets and liabilities are determined based on the
difference between the tax basis of assets and liabilities and their financial
reporting amounts based on enacted tax laws and statutory tax rates applicable
to the periods
in which the differences are expected to affect taxable
income. Valuation allowances are established, when necessary, to
reduce deferred tax assets to the amount expected to be realized. The Company
generated a deferred tax credit through net operating loss
carryforward. However, a valuation allowance of 100% has been
established, as the realization of the deferred tax credits is not reasonably
certain, based on going concern considerations outlined as follows.
Going
Concern
The
Company’s financial statements are prepared using accounting principles
generally accepted in the United States of America applicable to a going
concern, which contemplates the realization of assets and liquidation of
liabilities in the normal course of business. The Company has not yet
established an ongoing source of revenues sufficient to cover its operating
costs and to allow it to continue as a going concern. The
ability of the Company to continue as a going concern is dependent on the
Company obtaining adequate capital to fund operating losses until it becomes
profitable. If the Company is unable to obtain adequate capital, it
could be forced to cease development of operations.
The
ability of the Company to continue as a going concern is dependent upon its
ability to successfully accomplish its plans to exploit or lease its mining
claim described in the initial paragraph, or engage a working interest partner,
in order to eventually secure other sources of financing and
attain profitable operations. The accompanying financial statements
do not include any adjustments relating to the recoverability and classification
of recorded asset amounts or the amount and classifications or liabilities or
other adjustments that might be necessary should the Company be unable to
continue as a going concern.
Development-Stage
Company
The
Company is considered a development-stage company, with limited operating
revenues during the periods presented, as defined by Statement of Financial
Accounting Standards (“SFAS”) No. 7. SFAS. No. 7 requires
companies to report their operations, shareholders deficit and cash flows since
inception through the date that revenues are generated from management’s
intended operations, among other things. Management has defined
inception as January 9, 2008. Since inception, the Company has incurred an
operating loss of $25,127. The Company’s working capital has been generated
through the sales of common stock. Management has provided financial
data since January 9, 2008, “Inception” in the financial statements, as a means
to provide readers of the Company’s financial information to make informed
investment decisions.
Basic and Diluted Net Loss
Per Share
Net loss
per share is calculated in accordance with SFAS 128, Earnings Per Share for the
period presented. Basic net loss per share is based upon the weighted
average number of common shares outstanding. Diluted net loss per
share is based on the assumption that all dilative convertible shares and stock
options were converted or exercised. Dilution is computed by applying
the treasury stock method. Under this method, options and warrants
are assumed exercised at the beginning of the period (or at the time of
issuance, if later), and as if funds obtained thereby we used to purchase common
stock at the average market price during the period.
The
Company has no potentially dilutive securities outstanding as of August 31,
2008.
The
following is a reconciliation of the numerator and denominator of the basic and
diluted earnings per share computations for the period ended August 31,
2008:
Numerator: |
|
|
|
|
|
|
|
Basic
and diluted net loss per share:
|
|
|
|
|
|
|
|
Net
Loss
|
|
$ |
(
25,127 |
) |
|
|
|
|
|
Denominator
|
|
|
|
|
|
|
|
|
|
Basic
and diluted weighted average number of shares outstanding
|
|
|
3,450,000 |
|
|
|
|
|
|
Basic and Diluted Net
Loss Per Share
|
|
$ |
(0.01 |
) |
3.
Capital Structure
During
the period from inception through August 31, 2008, the Company entered into the
following equity transactions:
April
30, 2008
|
Sold
1,950,000 shares of common stock at $.02 per share realizing
$39,000.
|
|
|
April
30, 2008
|
Sold
1,500,000 shares of common stock at $.01 per share realizing
$15,000.
|
As of
August 31, 2008, the Company has authorized 75,000,000 of $0.001 par common
stock, of which 3,450,000 shares were issued and outstanding.
4.
Commitments
On April
1, 2008 the Company entered into an indefinite lease agreement with the owner of
2 mining claims situated in Pershing County Nevada, in an area known as the
Goldbanks East Prospect. The agreement requires a royalty of 3 ½ % of net
smelter returns, as defined by the agreement, paid quarterly in
arrears. Minimum royalty payments are to be paid on April 1st
annually:
|
Due
|
|
|
|
|
1st
year
|
April
1, 2008
|
|
$ |
5,000 |
|
Paid |
2nd
year
|
April
1, 2009
|
|
$ |
5,000 |
|
|
3rd
year
|
April
1, 2010
|
|
$ |
10,000 |
|
|
4th
year
|
April
1, 2011
|
|
$ |
10,000 |
|
|
5th
year
|
April
1, 2012
|
|
$ |
25,000 |
|
|
Each
year thereafter
|
|
|
$
|
75,000 |
|
plus
rate of inflation |
In
addition, Link Resources, Inc. is required by the agreement to pay mining claim
maintenance or rental fees.
5.
Contingencies, Litigation
There are
no loss contingencies or significant legal proceedings against the Company with
respect to matters arising in the ordinary course of business.
Item
2. Management’s Discussion and Analysis of Financial
condition and Results of Operations
THE
FOLLOWING DISCUSSION OF THE RESULTS OF OUR OPERATIONS AND FINANCIAL CONDITION
SHOULD BE READ IN CONJUNCTION WITH OUR FINANCIAL STATEMENTS AND THE NOTES
THERETO INCLUDED ELSEWHERE IN THIS REPORT.
CAUTIONARY
NOTE REGARDING FORWARD-LOOKING STATEMENTS
This
section of this report includes a number of forward-looking statements that
reflect our current views with respect to future events and financial
performance. Forward-looking statements are often identified by words
like: believe, expect, estimate, anticipate, intend, project and similar
expressions, or words which, by their nature, refer to future events. You should
not place undue certainty on these forward-looking statements, which apply only
as of the date of our report. These forward-looking statements are
subject to certain risks and uncertainties that could cause actual results to
differ materially from historical results and predictions. We are an
exploration stage company and have not yet generated or realized any
revenues.
Background
We are in
the business of mineral exploration. On April 1, 2008, we entered in
a Mineral Lease Agreement whereby we leased from Timberwolf Minerals, LTD a
total of two (2) unpatented lode mining claims in the State of Nevada which we
refer to as the Goldbanks East Prospect. These mineral claims are located in
Section 20, Township 30 North, Range 39 East, Mt. Diablo Baseline &
Meridian, Pershing County, Nevada, USA, owned by Timberwolf Minerals LTD. Our
plan of operations is to conduct mineral exploration activities on the Goldbanks
East Prospect in order to assess whether these claims possess commercially
exploitable mineral deposits. Our exploration program is designed to explore for
commercially viable deposits of gold, silver, copper or any other valuable
mineral.
We have
not, nor has any predecessor, identified any commercially exploitable reserves
of these minerals on our mineral claims. We are an exploration stage
company and there is no assurance that a commercially viable mineral deposit
exists on our mineral claims. After acquiring a lease on the Goldbanks East
Prospect, we retained the services of Robert Thomas, a Professional
Geologist. Mr. Thomas prepared a geologic report for us on the
mineral exploration potential of the claims. Mr. Thomas has no direct
or indirect interest and does not expect to receive an interest in any of the
Goldbanks East Prospect claims. Included in this report is a recommended
exploration program which consists of mapping, sampling, staking additional
claims and drilling.
Market
for Gold and Silver
The
demand for gold and silver has created a bull market for both metals over the
past several years. While there will likely continue to be increased volatility
of market prices in the short run due to seasonality or speculation, the growth
of the world’s economy is driving demand for raw materials that has drawn down
supplies. Despite concerns for a slowing U.S. economy, a growing middle class in
both China and India is driving demand for precious metals. There also remains
increased interest in holding precious metals such as gold and silver as a store
of value during periods of increasing anxiety of either errant monetary policies
or strained international relations. Contributing further to the increasing
price of both gold and silver is the fall in the value of the US dollar against
other major foreign currencies and the deteriorating economic indicators in the
United States.
Financings
Our
operations to date have been funded by equity investment. All of our equity
funding has come from a private placement of our securities. We issued
1,500,000 shares of common stock on January 24, 2008 to Anthon Zaradic our
president, chief financial officer and director. Mr. Zaradic acquired these
shares at a price of $0.01 per share. We received $15,000 from this
offering. These shares were issued pursuant to Section 4(2) of the
Securities Act of 1933 and are restricted shares as defined in the Securities
Act.
We
completed an offering of 1,950,000 shares of our common stock at a price of
$0.02 per share to a total of thirty (36) purchasers on April 30,
2008. The total amount we received from this offering was
$39,000. We completed the offering pursuant to Regulation S of the
Securities Act. Each purchaser represented to us that he/she was a
non-US person as defined in Regulation S.
The
following discussion provides information that management believes is relevant
to an assessment and understanding of our operations and the consolidated
financial condition and results of operations.
Our
Operations
Our
business plan is to proceed with the exploration of the Goldbanks East Prospect
to determine whether there are commercially exploitable reserves of gold, silver
or other metals.
We began
Phase I in May 2008. Four days were spent mapping and sampling the Goldbanks
East Prospect, surrounding the GB#1 & #2 lode claims held under lease by
Link Resources. The purpose of this work was to evaluate the mineral potential
of both the GB#1-2 claims, and the surrounding area precious metal
mineralization. Detailed geologic mapping and geochemical sampling indicate the
presence of lithologic-controlled structure and epithermal high-grade
gold-silver silica veins and vein intersections. Epithermal gold veins in the
Goldbanks East property assay 0.1-0.9 oz/t gold and as high as 1.0 – 2.0 oz/t
silver. Phase one was carried out by David A. Wolfe and the end cost of the work
was $3,924.71.
We have
begun work on Phase two of our exploration program which consists of staking
additional claims in the area. We have requested that a report on which claims
are available for staking and the associated costs be prepared by David Wolfe to
determine which claims the company wishes to stake. The estimated staking costs
as well as the associated filing fees and maintenance fees are $6,000. The
company expects to have these additional claims staked in the next 30 days. The
company currently has sufficient cash reserves to proceed with this phase of its
exploration program.
In a
follow up to Phase two the company plans to conduct some additional mapping and
sampling of the additional claims staked in the area. This is expected to take
place in late October to Early November of 2008, and the company expects to have
results before the end of 2008. The estimated cost of this follow up to Phase
two is $5,000 to $7,000. This work will be carried out by David Wolfe. The
company currently has sufficient cash reserves to proceed with this stage of its
exploration program.
If the
results of Phase two are favorable, the company plans to move to Phase three of
its exploration program which includes the drilling of 4,000 feet of Reverse
Circulation holes, and includes the cost of assays as well as the cost of the
supervising geologist, bonding, permitting and other associated expenses. This
phase is expected to begin in the spring of 2009 and will be carried out under
the supervision of David Wolfe and will cost approximately $147,000. We expect
to have results of the Assays and a geologic report within two months of the
start of drilling. We do not have sufficient cash reserves to proceed with this
phase of the exploration program.
If
results are favorable leading up to the drilling of the property, the company
will need to raise additional funds required to meet this and other capital
needs. Should the results leading up to the drilling of the property
prove not to be sufficiently positive to proceed with a further exploration on
the property, we intend to seek out and acquire other North American mineral
exploration properties which, in the opinion of a Geologist, offer attractive
mineral exploration opportunities. However, we may not have
sufficient financing to seek out and acquire other properties, and if we did
have sufficient financing, it is possible that we would be unsuccessful in
seeking out an acquiring alternative exploration properties.
During
the exploration stage of the Goldbanks East Prospect, our President will be
devoting approximately 10 hours per week of his time to our
business. We do not foresee this limited involvement as negatively
impacting our company over the next twelve months as all exploratory work is
being performed by outside consultants. If, however, the demands of our business
require more time of our president such as raising additional capital or
addressing unforeseen issues with regard to our exploration efforts, he is
prepared to adjust his timetable to devote more time to our
business. However, he may not be able to devote sufficient time to
the management of our business, as and when needed.
Upon the
event that we require additional funding, we anticipate that such funding will
be in the form of equity financing from the sale of our common
stock. However we cannot provide investors with any assurance that we
will be able to obtain sufficient funding from the sale of our common stock to
fund additional phases of the exploration program, should we decide to
proceed. We believe that debt financing will not be an alternative
for funding any phases in our exploration program. The risky nature
of this enterprise and lack of tangible assets places debt financing beyond the
credit-worthiness by most banks or typical investors or corporate debt until
such time as an economically viable mine can be demonstrated. We do
not have any arrangements in place for any future equity financing.
In the
event that Link completes this exploration program and is successful in
identifying a potential mineral deposit, we would have to spend substantial
funds on additional drilling of the property and engineering studies before we
would be able to determine if it’s a commercially viable mineral
deposit.
We
incurred operating expenses in the amount of $25,127 from inception on January
9, 2008 through the period ended August 31, 2008. These operating
expenses were composed of mineral lease payments, exploration expenses,
professional fees, and other administrative expenses.
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 is material to
stockholders.
Item
3. Quantitative and Qualitative Disclosures About Market
Risk.
N/A
Item
4. Controls and Procedures.
As of the
end of the period covered by this Report, the Company’s President, and principal
financial officer (the “Certifying Officer”), evaluated the effectiveness of the
Company’s “disclosure controls and procedures,” as defined in Rule 13a-15(e)
under the Securities Exchange Act of 1934. Based on that evaluation, the officer
concluded that, as of the date of the evaluation, the Company’s disclosure
controls and procedures were effective to provide reasonable assurance that the
information required to be disclosed in the Company’s periodic filings under the
Securities Exchange Act of 1934 is accumulated and communicated to management to
allow timely decisions regarding required disclosure.
The
Certifying Officer has also indicated that there were no significant changes in
our internal controls or other factors that could significantly affect such
controls subsequent to the date of their evaluation and there were no corrective
actions with regard to significant deficiencies and material
weaknesses.
Our
management, including the Certifying Officer, does not expect that our
disclosure controls or our internal controls will prevent all errors and fraud.
A control system, no matter how well conceived and operated, can provide only
reasonable, not absolute, assurance that the objectives of the control system
are met. In addition, the design of a control system must reflect the fact that
there are resource constraints, and the benefits of controls must be considered
relative to their costs. Because of the inherent limitations in all control
systems, no evaluation of controls can provide absolute assurance that all
control issues and instances of fraud, if any, within a company have been
detected. These inherent limitations include the realities that judgments in
decision-making can be faulty, and that breakdowns can occur because of simple
error or mistake. Additionally, controls can be circumvented by the individual
acts of some persons, by collusion of two or more people or by management
override of the control. The design of any systems of controls also is based in
part upon certain assumptions about the likelihood of future events, and there
can be no assurance that any design will succeed in achieving its stated goals
under all potential future conditions. Because of these inherent limitations in
a cost-effective control system, misstatements due to error or fraud may occur
and not be detected.
Item 4(t). Controls and
Procedures.
The
information required pursuant to item 4(t) has been provided in Item
4.
PART
II. OTHER INFORMATION
Item 1. Legal
Proceedings
None.
Item 1(a). Risk
Factors
There
have been no changes to our risk factors from those disclosed in our
Registration Statement filed on Form S-1 on August 20, 2008.
Item 2.
Unregistered Sales of Equity Securities
We did
not issue any securities without registration pursuant to the Securities Act of
1933 during the three months ended August 31, 2008.
Item
3. Defaults Upon Senior Securities
None.
Item
4. Submission of Matters to a Vote of Securities
Holders
No
matters were submitted to our security holders for a vote during the quarter of
our fiscal year ending August 31, 2008.
Item 5. Other
Information
None.
Item
6. Exhibits
Exhibit
Number
|
Description of
Exhibit
|
|
|
|
|
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.
LINK
RESOURCES INC.
By:
/s/
Anthony Zaradic
Anthony
Zaradic, President,
Chief
Executive Officer and
Chief
Financial Officer Director
Date:
October 14, 2008