The following discussion of our financial condition and results of operations should be read in conjunction with the selected historical consolidated financial data and consolidated financial statements and notes thereto appearing elsewhere in this annual report on Form 10K. This discussion and analysis contains forward-looking statements that involve risks and uncertainties. Our actual results may differ materially from those anticipated in these forward-looking statements as a result of various factors. See "Special Note Regarding Forward-Looking Information."
General
The Company has limited operations and is actively seeking merger, reverse
merger, acquisition or business combination opportunities with an operating
business or other financial transaction opportunities. Until a transaction is
effectuated, the Company does not expect to have significant operations.
Accordingly, during such period, the Company does not expect to achieve
sufficient income to offset its operating expenses, resulting in operating
losses that may require the Company to use and thereby reduce its cash balance.
For further information on the Company's plan of operation and business, see
Item I, Current Business. Until the Company completes a merger, reverse merger
or other financial transaction, and unless interest rates increase dramatically,
the Company expects to continue to incur a loss of between
6 Table of Contents
Results of Operations and Financial Condition
During the year ended
Liquidity and Capital Resources
Stockholders' equity (deficit) as of
The Company had cash on hand at
The Company does not have any arrangements with banks or financial institutions with respect to the availability of financing in the future.
The payment of any cash distribution or dividend is subject to the discretion of the Company's Board of Directors. At this time the Company has no plans to pay any cash distributions or dividends in the foreseeable future.
Off-Balance Sheet Arrangements
None.
Recently Issued Accounting Standards
The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.
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