x
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QUARTERLY
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF
1934 FOR THE QUARTERLY PERIOD ENDED December
31, 2007
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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 FOR THE TRANSITION PERIOD FROM ______________ TO
______________
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Delaware
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0-2236
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33-0565710
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(State
or other jurisdiction of
incorporation)
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(Commission
File No.)
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(IRS
Employer Identification No.)
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Part
I. Financial Information
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Item
1.
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Consolidated
Financial Statements
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2
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Unaudited
Consolidated Balance Sheet - as of December 31, 2007
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2
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Unaudited
Consolidated Statements of Operations for the nine months ended December
31, 2007 and 2006 and for the period from inception, September 16,
2002,
to December 31, 2007
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3
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Unaudited
Consolidated Statements of Operations for the three months ended
December
31, 2007 and 2006
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4
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Unaudited
Consolidated Statements of Cash Flows for the nine months ended December
31, 2007 and 2006 and for the period from inception, September 16,
2002,
to December 31, 2007
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5
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Notes
to the Unaudited Consolidated Financial Statements
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6
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Item
2.
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Management’s
Discussion and Analysis or Plan of Operation
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9
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Item
3.
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Controls
and Procedures
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14
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Part
II. Other Information
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Item
2.
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Unregistered
Sales of Equity Securities and Use of Proceeds
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14
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Item
6.
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Exhibits
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14
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December
31, 2007
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ASSETS
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Current
assets:
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Cash
and Cash equivalents
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$
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156
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Total
assets
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$
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156
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LIABILITIES
AND SHAREHOLDERS' DEFICIT
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Current
liabilities:
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Accounts
payable and accrued liabilities
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$
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50,147
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Notes
payable - shareholder
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649,200
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Total
current liabilities
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699,347
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C
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Total
liabilities
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699,347
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Shareholders'
deficit:
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PrPreferred
shares - $0.001 par value; 1,000,000 authorized, no shares issued
or
outstanding
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-
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C
Common shares - $0.001 par value; 199,000,000 authorized; 77,320,292
shares issued and outstanding
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77,320
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Additional
paid - in capital (Deficit)
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(714,080
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)
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Deficit
accumulated during the development stage
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(62,431
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)
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Total
shareholders' deficit
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(699,191
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)
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Total
liabilities and shareholders' deficit
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$
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156
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Nine
Months Ended
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Inception
to
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December
31,
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December
31,
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December
31,
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2007
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2006
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2007
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Expenses
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Operating
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General
and administrative
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$
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58,845
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-
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$
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62,431
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Total
expenses
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58,845
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-
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62,431
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Loss
from operations
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(58,845
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)
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-
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(62,431
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)
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Net
Loss
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$
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(58,845
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)
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$
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-
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$
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(62,431
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)
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Weighted
Average Shares Outstanding - basic and diluted
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13,570,612
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765,000
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Basic
and diluted loss per share
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Continuing
Operations
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$
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(0.00
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)
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$
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0.00
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Net
Loss
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$
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(0.00
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)
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$
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0.00
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Three
Months Ended
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December
31
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December
31
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2007
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2006
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Expenses
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General
and administrative
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$
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58,845
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$
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-
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Total
expenses
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58,845
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-
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Loss
from operations
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(58,845
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)
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-
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Net
Loss
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$
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(58,845
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)
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$
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-
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Weighted
Average Shares Outstanding - basic and diluted
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39,277,646
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765,000
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Loss
Per Share - basic and diluted
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$
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(0.00
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)
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$
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0.00
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Nine
Months Ended
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Inception
to
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December
31,
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December
31,
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December
31,
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2007
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2006
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2007
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Cash
Flows from Operating Activities:
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Net
Loss
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$
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(58,845
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)
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$
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-
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$
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(62,431
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)
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Loss
from continuing operations
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(58,845
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)
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-
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(62,431
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)
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Adjustments
to reconcile net loss to net cash used in operating
activities:
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Changes
in
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Accounts
payable and accrued liabilities
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50,147
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-
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50,147
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Net
cash used in operating activities
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(8,698
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)
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-
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(12,284
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)
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Cash
Flows from Investing Activities
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-
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-
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-
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Cash
Flows from Financing Activities
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Proceeds
from issuance of common stock
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-
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-
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3,586
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Net
reverse merger adjustments
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8,854
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-
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8,854
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Net
cash provided by financing activities
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8,854
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-
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12,440
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Net
increase (decrease) in cash and cash equivalents
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156
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-
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156
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Cash
and cash equivalents
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Beginning
of period - continuing operations
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-
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-
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-
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End
of period - continuing operations
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$
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156
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$
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-
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$
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156
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Assets
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Liabilities
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Common
Stock
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Paid
in Capital
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Retained
Earnings
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Common
Stock
Issued
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Balance
at 9/30
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99,768
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(2,035,384)
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(26,548)
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(7,080,898)
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9,043,062
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26,548,292
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Shares
issued in exchange
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(50,000)
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50,000
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50,000,000
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Merger
Adjustments
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(99,612)
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1,336,037
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(772)
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7,744,978
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(8,980,631)
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772,000
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Balance
at 12/31/2007
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156
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(699,347)
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(77,320)
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714,080
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62,431
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77,320,292
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·
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intentional
manipulation of the Company’s stock price by existing or future
stockholders;
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·
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short
selling of the Company’s common stock or related derivative
securities;
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·
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a
single acquisition or disposition, or several related acquisitions
or
dispositions, of a large number of the Company’s shares of the Company’s
common stock;
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·
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the
interest, or lack of interest, of the market in the Company’s business
sector, without regard to the Company’s financial condition or results of
operations;
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·
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the
adoption of governmental regulations and similar developments in
the
United States or abroad that may affect the Company’s ability to offer the
Company’s products and services or affect the Company’s cost structure;
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·
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developments
in the businesses of companies that purchase the Company’s products;
and
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·
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economic
and other external market factors, such as a general decline in market
prices due to poor economic indicators or investor
distrust.
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·
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Is
priced under five dollars;
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·
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Is
not traded on a national stock exchange, the Nasdaq Global Market
or the
Nasdaq Capital Market;
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·
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Is
issued by a company that has less than $5 million in net tangible
assets
(if it has been in business less than three years) or has less than
$2
million in net tangible assets (if it has been in business for at
least
three years); and
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·
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Is
issued by a company that has average revenues of less than $6 million
for
the past three years.
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·
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Certain
broker-dealers who recommend penny stock to persons other than established
customers and accredited investors must make a special written suitability
determination for the purchaser and receive the purchaser’s written
agreement to a transaction prior to sale.
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·
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Prior
to executing any transaction involving a penny stock, certain
broker-dealers must deliver to certain purchasers a disclosure schedule
explaining the risks involved in owning penny stock, the broker-dealer’s
duties to the customer, a toll-free telephone number for inquiries
about
the broker-dealer’s disciplinary history and the customer’s rights and
remedies in case of fraud or abuse in the
sale.
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·
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In
connection with the execution of any transaction involving a penny
stock,
certain broker-dealers must deliver to certain purchasers the following:
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O
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bid
and offer price quotes and volume information;
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O
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the
broker-dealer’s compensation for the trade;
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O
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the
compensation received by certain salespersons for the
trade;
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O
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monthly
accounts statements; and
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O
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a
written statement of the customer’s financial situation and investment
goals.
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SKRM
Interactive, Inc.
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February
19, 2007
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By:
/s/ Pericles DeAvila
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Date
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Pericles
DeAvila, President (Principal Executive Officer)
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February
19, 2007
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By:
/s/ Pericles DeAvila
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Date
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Pericles
DeAvila
Chief
Financial Officer
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EXHIBIT
INDEX
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Exhibit
No.
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Exhibit
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Incorporated
by Reference/ Filed Herewith
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[Discuss
other exhibits]
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31.1
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Rule
13a-14(a)/15d-14(a) Certification of Chief Executive
Officer
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Filed
herewith
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31.2
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Rule
13a-14(a)/15d-14(a) Certification of Chief Financial
Officer
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Filed
herewith
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32.1
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Section
1350 Certification of Chief Executive Officer
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Filed
herewith
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32.2
|
|
Section
1350 Certification of Chief Financial Officer
|
|
Filed
herewith
|