Aqua Society- wann sind die pleite ? - 500 Beiträge pro Seite (Seite 11)

[sundowner]

Shit,

nun brech ich doch glatt meinen Vorsatz hier nix mehr zu posten.
Ich finde es nur zu gut, dass hier endlich mal eine ansatzweise sinnvolle Diskussion startet.

Doch nun zu dem Grund warum ich hier noch was schreibe.

Habt Ihr Euch mal die Webseite der Aqua Society genauer angesehen?
Ganz interessant , oder?
Recht nette Texte und Bilder etc, nicht wahr?

Aber etwas stimmt nicht und das wollte mir bislang nicht einfallen, was mich stört.

Ich denke ich hab´s gefunden.

Die Seite ist in keinster Weise vertriebsorientiert.
Jede Firma wäre doch normalerweise brennend daran interessiert Kontakte zu knüpfen und Anfragen zu Produkten zu bekommen. Der Aufbau eines internationalen Absatznetzes etc.

All das findet man nicht auf der Webseite.
Wohin müssen technische Anfragen?
Wer ist für den Verkauf zuständig? In welcher Region?
Preislisten?
Wo werden noch Vertriebsleute gesucht?
Welche Stellenangebote gibts bei der Firma?

Alles nicht vorhanden.
Man beschreibt schön, was man da so vorhat und macht, aber für das wichtigste - den UMSATZ - gibt es nicht ansatzweise gute Tools auf der Webseite, oder?

Wie sehen das die anderen hier?

Freue mich über jedes Feedback.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 26.651.172 von sundowner am 03.01.07 10:21:26

Da die nichts zu verkaufen haben brauchen sie auch niemand für den Vertrieb oder Preislisten.
Ich habe mehrmals versucht über MAil und Post irgendwas in der Richtung wie Datenblätter, Prospekt o.ä. zu bekommen, ich habe nie irgendeine Antwot bekommen.

Die "Firma" hat bisher nur 1 Wassermaschine, die in den VAE als Vorführanlage steht (und nicht mehr funktioniert), und dieses neue Witzdings was auf krofischs Bildchen zu sehen ist, sonst nichts.
Der Rest besteht aus Pr-Gelaber.

[Teddybear]

Antwort auf Beitrag Nr.: 26.651.172 von sundowner am 03.01.07 10:21:26

Die Seite ist in keinster Weise vertriebsorientiert.
Jede Firma wäre doch normalerweise brennend daran interessiert Kontakte zu knüpfen und Anfragen zu Produkten zu bekommen. Der Aufbau eines internationalen Absatznetzes etc.

Jede Firma, die marktfähige Produkte hat und diese liefern kann, wäre brennend an entsprechenden Kontakten interessiert und würde entsprechende Informationen auf ihrer Homepage anbieten.

Die Homepage von Aqua ist aber auf das eigentliche Geschäft (Verkauf von Aktien) ausgerichtet und glänzt daher nur mit schwammigen Pseudo-"Informationen" für die Lemminge.

Zwischenzeitlich war die MK über 300 Millionen Euro, und es wurden für viele Millionen Euro Aktien an die Lemminge vertickt, obwohl der Laden in über zwei Jahren noch nie ein einziges eigenes "Produkt" verkauft hat. Warum sollten sie jetzt, gegen Ende der Story, noch damit anfangen?

[Borealis]

Dieses zusammengefriemelte Gerät von Aqua dürfte noch meilenweit von der Marktfähigkeit entfernt sein.
Ungefähr so weit wie die Wassermaschine.

Ich stell mir das Teil gerade als Zusatzgerät für´s Auto vor, um aus der Abwärme von Kühler und Auspuff Strom für einen Hybridantrieb zu gewinnen. Aber bei den an Autos anfallenden Abwärmemengen müßte es wahrscheinlich noch drei Nummern größer gebaut werden.
Aqua könnte sich ja schon mal nach Autoherstellern umsehen, die Autos und dazu passende Anhänger als Zusatzgeräte für Aquas Yellow Box liefern.

[westfale64]

#4540
#4568




Zu den Belegen in Aquas Quartalsbericht, die zeigen, dass die Erfinder dieser Wasser-aus-Luft bzw. Strom-aus-Luft-Märchens sich mit Millionenbeträgen aus dem Aktionärsvermögen selbst bedienen fällt weder Aqua noch seinen Pushern eine Erklärung ein.
Und die vielen Umsatz-, Mitarbeiter-, Auftrags- und Nasdaqlügen auf Aquas Homepage können die auch nicht erklären.
Alles in #4540 und #4568 nachzulesen.

Da können diese Abzocker nur mit lächerlichen Bildchen aus Hamms Keller und Aquas PR-Märchen den Thread zumüllen, damit die für Aqua peinlichen Sachverhalte im Thread nach hinten rutschen.

[Leichtmatrose]

Antwort auf Beitrag Nr.: 26.651.172 von sundowner am 03.01.07 10:21:26

Hier eine Einschätzung der Firma von Market Watch (by DOWJONES)

http://www.marketwatch.com/tools/quotes/profile.asp?sid=1906…

Company Information

Aqua Soc Inc
Konrad-Adenauer Strasse 9-13
Herten 45699

Aqua Society Inc. was incorporated under the laws of the State of Nevada on March 2, 2000, under the name V G Tech, Inc. On September 22, 2004, the Company completed the acquisition of Aqua Society GmbH. Prior to its acquisition of Aqua GmbH, the Company was in the business of providing services in the areas of digital graphics and special effects. Upon completing the acquisition of Aqua GmbH, it abandoned this digital imaging business. The Company is now in the business of designing and developing applied technologies, and providing consulting services, in the areas of heating, ventilation, air conditioning, refrigeration, water purification, waste water treatment, and, its latest business segment, energy. Effective December 27, 2004, the Company changed its name to Aqua Society, Inc. to better reflect the nature of its current business operations. The Company had following segments such as; Heating, Ventilation, Air Conditioning & Refrigeration, Water Production and Purification and Energy. The Company is unaware of any products currently in existence that compete directly with its existing and proposed products. However, the markets for HVAC&R, water purification, waste water treatment and water supply services and technologies are, in general, highly developed and extremely competitive. Many of the existing services and technologies provided by others are more established and have gained wider acceptance in the marketplace. Many of these service and equipment providers would be more established and have greater technical, financial, marketing and sales resources than the Company. Although the Company is not aware of any specific government and environmental regulations applicable to its business operations, it is likely that its operations would be subject to government regulations in the United States, Europe and elsewhere. In order to sell products based on the Aqua Technologies, Aqua Society may have to satisfy numerous mandatory procedures, regulations, and safety standards established by international, federal and state regulatory agencies. There can be no assurance that the Company can successfully comply with all present or future government regulations. Aqua Society currently has eight full-time employees.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 26.672.393 von Leichtmatrose am 04.01.07 13:45:41

steht doch nichts neues drin.
Kurz gesagt,
es ist eine 8 Mann Bude die vor ein paar Jahren eine andere Bude aufgekauft hat.
Es steht drin was sie gerne herstellen und verkaufen würden aber nicht können.

Nit den Richtlinien sind wahrscheinlich die Vorschriften für Trinkwasser gemeint, vielleicht auch noch welche wegen Abgasen, und daß sie Probleme haben diese zu erfüllen.

Also haben die auch festgestellt, es ist ein Dilettantenladen.

[Teddybear]

Antwort auf Beitrag Nr.: 26.675.162 von wohinistmeinGeld am 04.01.07 16:07:34

Also haben die auch festgestellt, es ist ein Dilettantenladen.

Das ist auch nur ein Teil der Wahrheit.

Im Abfassen inhaltsfreier PRs, in der Simulation eines operativen Geschäfts und im Anfüttern und Abkassieren von Lemmingen zeigt der Laden eine beeindruckende Kompetenz.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 26.677.236 von Teddybear am 04.01.07 17:44:07

stimmt auch wieder.

[wohinistmeinGeld]

hoppla, was hat krofischchen wieder angestellt das es über 11% Minus gibt?

Das liegt sicher daran, daß er seine Bildchen schon 3 Tage nicht mehr reingestellt hat.

[Teddybear]

Antwort auf Beitrag Nr.: 26.693.490 von wohinistmeinGeld am 05.01.07 15:53:39

Das liegt sicher daran, daß er seine Bildchen schon 3 Tage nicht mehr reingestellt hat.

Oder auch daran, daß die gewohnte und voraussehbare Ernüchterung durch den überfälligen Jahresbericht sich im voraus schon im Kurs niederzuschlagen beginnt

Das nahe Ende der Nachfrist macht sich eben hier im Thread durch eine gewisse Ruhe bemerkbar, denn im Jahresbericht genügt einfaches kopieren nicht

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 26.693.958 von Teddybear am 05.01.07 16:09:35

ach ja klar, daran hab ich gar nicht mehr gedacht, krofischchen ist ja andersweitig beschäftigt.

[Leichtmatrose]

Antwort auf Beitrag Nr.: 26.693.490 von wohinistmeinGeld am 05.01.07 15:53:39

Der Fisch ist mit dem Fliwatüt auf Tauchfahrt, um den Standort für das neue Meereswärmekraftwerk zu erkunden. Irgendwie hat jemand diese Meldung falsch interpretiert und den Kurs in den Keller geschickt!


http://de.wikipedia.org/wiki/Meeresw%C3%A4rmekraftwerk

[Leichtmatrose]

Beim Öffnen des Links nicht erschrecken bitte!

http://www.aqua-society.com/DOWNLOADS/Presseartikel/Reckling…

[Leichtmatrose]

Wahrscheinlich muss der Copyfisch wieder mal ein paar Strafminuten absitzen. Wie kann man sich nur ungeprüft so ein Kuckucksei ins Nest legen!
(Unterstreichungen von mir)

Aqua Society schwärmt von einem „technologischen Meilenstein“

Geniale Geschäftsidee oder nur heiße Luft? Die Firma Aqua Society in Herten spricht von einem technologischen Meilenstein. Dem Unternehmen ist es nach eigenen Angaben gelungen, „unter wirtschaftlichen Bedingungen“ Strom aus Abwärme zu erzeugen.
„Wir haben eine komplett neue Technologie erfunden“, schwärmt Geschäftsführer Hubert Hamm. Seit Ende 2003 haben die Tüftler von Aqua Society an der Anlage gebastelt, jetzt kann der Prototyp in Herten bestaunt werden.

Tüftler,...gebastelt


Bevor was weg ist, hier der komplette Text:

Hertener Firma erzeugt Strom aus Abwärme
ENERGIE: Aqua Society schwärmt von einem „technologischen Meilenstein“
Geniale Geschäftsidee oder nur heiße Luft? Die Firma Aqua Society in Herten spricht von einem technologischen Meilenstein. Dem Unternehmen ist es nach eigenen Angaben gelungen, „unter wirtschaftlichen Bedingungen“ Strom aus Abwärme zu erzeugen.
von Dietmar Marciniak
„Wir haben eine komplett neue Technologie erfunden“, schwärmt Geschäftsführer Hubert Hamm. Seit Ende 2003 haben die Tüftler von Aqua Society an der Anlage gebastelt, jetzt kann der Prototyp in Herten bestaunt werden.
Das Prinzip erscheint verblüffend simpel: Abwärme, wie sie beim Betrieb einer Biogasanlage oder eines Blockheizkraftwerkes entsteht, wird nicht mehr ungenutzt in die Luft gepustet, sondern in einen sogenannten Verdampfer geleitet. In diesem Apparat befindet sich ein spezielles Flüssigkeitsgemisch – die genaue Zusammensetzung bleibt Betriebsgeheimnis von Aqua Society – mit einem niedrigen Siedepunkt. Der Dampf, der dabei entsteht, treibt ein Gebläse an, das wiederum einen Generator zur Stromerzeugung in Gang setzt.
„Unser Prozessor kann aus Abwärme mit einer Ausgangstemperatur von weniger als 90 Grad Strom erzeugen“, sagt Hamm. „Das sind Temperaturen, die schon im Kühlwasserkreislauf eines Motors gemessen werden.“ Das heißt: Diese Abwärme steht kostenlos zur Verfügung. Und damit, so Hamm, wird die Sache für die Industrie interessant. Schon bei einem Wirkungsgrad von sechs bis acht Prozent könne die Anlage wirtschaftlich betrieben werden. Dieser Wert sei bei dem noch laufenden Dauertest erzielt worden.
Nächster Schritt ist die Fertigung einer Kleinserie. Mit einem großen Energieversorger aus der Region laufen Gespräche über eine Pilotanlage, ebenso mit einem Aluminiumwerk in Neuss. Voraussichtlich im Frühjahr 2007 sollen die ersten Prozessoren an laufenden Blockheizkraftwerken, vorzugsweise in Verbindung mit Biogasanlagen, eingesetzt werden. Hubert Hamm ist überzeugt, dass es für sein Produkt einen großen Markt gibt. Eine Studie des Fraunhofer-Instituts Oberhausen habe gezeigt, dass es ein Milliarden-Potenzial gibt.

http://zeitungshausbauer.westline.de/5542.php

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 26.702.111 von Leichtmatrose am 05.01.07 22:11:49

nanu, wurde krofisch gekündigt und du übernimmst jetzt seinen Job

„Wir haben eine komplett neue Technologie erfunden
das ist doch der Gipfel an Unverschämtheit. Würden die von irgendjemand Ernst genommen werden würden sie wahrscheinlich ganz schön Ärger mit den echten Herstellern bekommen.

bestaunt werden
ich kann mir vorstellen, daß die Journalisten, falls es solche waren, ganz schön darüber gestaunt haben wegen was für einem Witz sie ihre wertvolle Zeit verbraten müssen.

[Leichtmatrose]

Antwort auf Beitrag Nr.: 26.703.481 von Leichtmatrose am 05.01.07 23:36:10

Mit einem großen Energieversorger aus der Region laufen Gespräche über eine Pilotanlage, ebenso mit einem Aluminiumwerk in Neuss.

Wer spricht denn da mit wem? Norsk Hydro mit Herrn Hamm wahrscheinlich! Und der große Energieversorger aus der Region ist bestimmt die TMR GmbH, ein Joint Venture der Aqua Society GmbH aus Herten, der Loick AG für nachwachsende Rohstoffe und der ODAS OHG, beide mit Sitz in Dorsten!

[Leichtmatrose]

Antwort auf Beitrag Nr.: 26.704.063 von wohinistmeinGeld am 06.01.07 00:17:03

@ wohinistmeinGeld
erst lesen, dann posten!
Oder bist Du genauso ironieresistent wie der Pusherfisch?

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 26.704.407 von Leichtmatrose am 06.01.07 00:41:53

[Leichtmatrose]

Antwort auf Beitrag Nr.: 26.704.063 von wohinistmeinGeld am 06.01.07 00:17:03

@ wohinistmeingeld

nanu, wurde krofisch gekündigt und du übernimmst jetzt seinen Job

Dafür müsste krofisch mich erst mal zum Vollmatrosen befördern, dazu wird er wohl kaum bereit sein. Dass ich den Job besser machen würde, steht ja wohl außer Frage, nur die Entlohnung mit Optionen wäre dieser Schwerstarbeit in allerkeinsterweise angemessen.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 26.705.142 von Leichtmatrose am 06.01.07 01:44:20

wenn du seinen Job besser machst brauchst du dir aber nichts drauf einbilden, das schafft jeder 10 Jährige
und als Entlohnung gibt es eine Heiße-Luft Wassermaschine, oder eine heiße Wassermaschine,- ach nee, die gibt s schon unter dem Namen Kaffeemaschien. Aber die kann man bei Aqua auch als eine komplett neue Technologie ausgeben.

[Leichtmatrose]

Antwort auf Beitrag Nr.: 26.704.063 von wohinistmeinGeld am 06.01.07 00:17:03

„Wir haben eine komplett neue Technologie erfunden"
das ist doch der Gipfel an Unverschämtheit. Würden die von irgendjemand Ernst genommen werden würden sie wahrscheinlich ganz schön Ärger mit den echten Herstellern bekommen.

Das ist mein Anliegen

[Borealis]

Antwort auf Beitrag Nr.: 26.705.142 von Leichtmatrose am 06.01.07 01:44:20

"nur die Entlohnung mit Optionen wäre dieser Schwerstarbeit in allerkeinsterweise angemessen"

Dann laß Dir doch Put-Optionen geben. Aqua wird nichts dagegen haben (die wissen ja nicht, was das ist).

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 26.705.588 von Leichtmatrose am 06.01.07 02:23:44

was würde wohl passieren wenn man für diesen Satz eine Unterlassungsklage und/oder Richtigstellung verlangt?
Dann müßten sie entweder zugeben Blödsinn verzapft zu haben oder sie müssen klarstellen wo denn der Unterschied zu den echten Herstellern ist. Nur weil die "geheime Flüssigkeit" statt so was wie Ammoniak-Wasser-Gemisch o.a. krofischs Spülwasser ist wird es keine neue Technologie.

[westfale64]

#4540
#4568

Aktionärsabzocke vom Feinsten

[Borealis]

Antwort auf Beitrag Nr.: 26.714.630 von wohinistmeinGeld am 06.01.07 13:00:06

"die ´geheime Flüssigkeit´ "

Da ist eigentlich gar nichts mehr geheim dran. (Alles schon im Fraunhofer-Gutachten und in den Patentanmeldungen ausgeplaudert)

Erste Komponente:
Die erste Komponente ist Hexamethyldisiloxan (Handelsname bei der Firma Wacker-Chemie: Oel AK 0,65). Nachzulesen im Fraunhofer-Gutachten.

Die anderen Komponenten findet man in den Patentanmeldungen von Oser und Rannow.

Zweite Komponente:
Die zweite Komponente ist Wasser.
Sowohl das Oel AK 0,65 als auch Wasser haben einen Siedepunkt von 100°C. Zusammen bilden sie aber ein sogenanntes azeotropes Gemisch, das schon bei 90°C siedet. Mit einer Abwärmequelle von 90°C könnte man also dieses Gemisch schon verdampfen. Wenn man bei noch geringeren Abwärmetemperaturen arbeiten will, müßte man etwas Unterdruck anlegen.
Die beiden Komponenten sind nicht ineinander löslich, sondern bilden in flüssigem Zustand zwei Schichten übereinander. Genauso trennt sich das azeotrope Dampfgemisch nach der Kondensation wieder sauber in zwei Schichten, die wieder in den Verdampfer zurückgeführt werden.

Dritte Komponete:
Die dritte Komponente ist Natriumsilikat (im Wasser gelöst), auch als Natronwasserglas bezeichnet.
Das Natriumsilikat bildet mit der zweiten Komponente (Wasser) eine Lösung. Aus dieser wird durch Verdampfen (zusammen mit dem Oel AK 0,65) das Wasser rausgeschleppt, so daß sich die Natriumsilikatlösung aufkonzentriert. Diese relativ konzentrierte Lösung, aus der das Wasser alleine erst bei Temperaturen weit über 100°C verdampfen würde, wird in das aus Wasser und Oel AK 0,65 gebildete Dampfgemisch eingespritzt und wäscht dort den Wasseranteil aus dem Dampfgemisch aus. Dabei wird die Kondensationswärme des Wasserdampfanteils frei, die hauptsächlich auf den Dampfanteil vom Hexamethydisiloxan übertragen wird.

Was die Mischungsverhältnisse der drei Komponenten betrifft, da kann man nicht viel falsch machen. Das regelt sich von ganz allein.
Handelsübliches Natronwasserglas (enthält Natriumsilikat und Wasser) und Oel AK 0,65 zu gleichen Teilen zusammengemischt würde schon funktionieren.

[westfale64]

Zu den Belegen in Aquas Quartalsbericht, die zeigen, dass die Erfinder dieser Wasser-aus-Luft bzw. Strom-aus-Luft-Märchens sich mit Millionenbeträgen aus dem Aktionärsvermögen selbst bedienen fällt weder Aqua noch seinen Pushern eine Erklärung ein.
Und die vielen Umsatz-, Mitarbeiter-, Auftrags- und Nasdaqlügen auf Aquas Homepage können die auch nicht erklären.
Alles in #4540 und #4568 nachzulesen.

Da können diese Abzocker nur mit lächerlichen Bildchen aus Hamms Keller und Aquas PR-Märchen den Thread zumüllen, damit die für Aqua peinlichen Sachverhalte im Thread nach hinten rutschen.






Wieviel Aktionärsgeld haben die Aqua-Oberen sich im neuen Quartalsbericht wohl wieder selbst zugeschanzt ?

[westfale64]

#4540: Die ganze Aqua-Aktionärsverdummung


Zur Erinnerung, da es schon wieder 14 seiten nach hinten gerutscht ist:

Aus Aquas aktuellem Quartalsbericht:

„Although we have received orders for our Thermomobile, Aquamission and Yellow Box products, we have not yet earned any revenues from the sale of those products“

Den Aqua –Schrott konnte Hamm also noch nie verkaufen. Und in der Zukunft will Aqua sich auch gar nicht mehr mit diesem Wasser-aus-Luft-Quatsch befassen, wie sie selbst schreiben:

„With respect to our Aquamission product, we had previously been working to upgrade the taste of the water produced by the Aquamission to “mineral water” quality. However, we have re-assessed this project and we no longer intend to proceed with this development.“




Und hier die katastrophalen Zahlen dieser 8-Mann-Bude aus dem aktuellen Quartalsbericht, die die Pusher so gern verschweigen:

„Net Loss : 2005: $ 23,982,914
2006: $ 3,842,485
„However, we have not yet achieved profitable operations, have accumulated losses of $29,892,239 since our inception and we expect to continue to incur substantial losses in the foreseeable Future as we continue to develop our business. As a result, our auditors stated in their report for our fiscal year ended September 30, 2005 that a substantial doubt exists as to our ability to continue as a going concern.“
„Working Capital Defizit 2006: $ 1,354,326“

29 Mio. Gesamtverlust und 1,3 Mio. Fehlkapital. Und wohin das Aktionärsgeld neben den „Berater“-Zahlungen geflossen ist schreibt Aqua auch –nämlich mittels „management fees“an die eigenen(!)Vorstände Hamm und Stamm:

„We incurred management fees of $640,939 during the nine months ended June 30, 2006. The majority of these fees were for amounts charged under a management consulting contract with Stamm & Lang Rechtsanwalte, a German law firm of which Achim Stamm, our former Chief Financial Officer, Secretary, Treasurer and a former director, is a partner. Also included in management fees are amounts charged under a management consulting contract with Hubert Hamm, a managing director of Aqua GmbH, and the lead consultant for research and development for Aqua GmbH’s HVAC&R department.“

Und die Insolvenz hat Aqua auch gleich angekündigt -aber nicht auf der Homepage, sondern in den Quartalsberichten. Die lesen die Lemminge ja nicht, sonst wüssten sie was hier gespielt wird:

„a substantial doubt exists as to our ability to continue as a going concern.“






Abzocke vom Feinsten. Und die Aqua-Aktionäre haben nichts kapiert. Deshalb wird mit dem 3. Anlegermärchen „Energymission“ und krofischs Bastelbudenfotos aus Hamms Keller gleich wieder Anlegergeld eingesammelt, damit die Aqua-Gründer auch in der Zukunft wieder diese Anlegergelder in Form von „Berater“-Provisionen und „management fees“ einsacken können.
Und –wie schon beim unverkäuflichen „Aquamission“- gibt es von Aqua auch die passende Erklärung dieser tollen Technik, die seit 1 Jahr auch wieder keiner kauft:




Mit Übersetzung:


„Aus heißer Luft wird Strom“(Aus Aquas heisser Luft werden nur Aktionärsgelder zum Verbraten generiert)

„Aqua Society GmbH hat ein Verfahren entwickelt, bei dem aus Abwärme im niedrigen Temperaturbereich Strom erzeugt werden kann“Das ist zwar eine 100 Jahre alte Technik, aber die Aqua-Lemminge haben sich den Kondensationsprozess bei „Aquamission“ auch als tolle Erfindung andrehen lassen.

„Das Hertener Unternehmen hat zum einen Geräte entwickelt, mit denen Trinkwasser aus der Luft gewonnen werden kann. "Die Technologie ist fertig und wird 2007 in den Markt eingeführt"
Mit „Hertener Unternehmen“ ost wohl die OTC-Bude Aqua-Society inc. Gemeint bei der die Aktionärsgelder versickern. Praktisch, da diese Abzocktruppe im fernen Amerika nicht so einfach verklagt werden kann.Das Wasser-aus-Luft-Fliwatüt hat Hamm seit 2002 fertig und kriegt es seitdem nicht verkauft.

„Denn eine Studie des Fraunhofer Instituts im Auftrag der Aqua Society hat ergeben, dass weltweit Wärme "weggeschmissen wird"
Und genau wie bei Aquas Wasser-aus-Luft-Märchen „Aquamission“ wirbt Hamm wieder mit einem Fraunhofer-Gutachten ohne zu erwähnen, dass das Fraunhofer –Institut keine der Aqua-„Erfindungen“ begutachtet hat. Aber zum Aktienverticken bei den Dummen ist der Spruch zu gebrauchen. Und nur darum geht es .



„Jetzt steht das Hertener Unternehmen in Verhandlungen mit einem großen Energieversorger und einem Aluminiumwerk. Hamm: "Die Langzeitversuche sind gelaufen, jetzt starten wir Pilotprojekte."
Verhandelt wird bei Aqua seit Jahren und „Pilotprojekte“, „Probebetriebe“ u.ä. kennen wir schon von den anderen Lemmingmärchen . Gekauft hat aber noch niemand (s.o.)

[krofisch]

Antwort auf Beitrag Nr.: 26.788.673 von westfale64 am 09.01.07 12:35:06

FAKTEN-FAKTEN-FAKTEN

http://www.waz.de/waz/waz.herten.volltext.php?kennung=on6waz…

Aus heißer Luft wird Strom

Aqua Society GmbH hat ein Verfahren entwickelt, bei dem aus Abwärme im niedrigen Temperaturbereich Strom erzeugt werden kann. Anlage könnte etwa zusammen mit einer Biogasanlage betrieben werden Ein Krankenhaus oder ein Hotel dort, wo es weder Wasser noch Strom gibt - ein schwieriges Unterfangen. Abhilfe könnte ein neues Verfahren der Aqua Society GmbH schaffen. Das Hertener Unternehmen hat zum einen Geräte entwickelt, mit denen Trinkwasser aus der Luft gewonnen werden kann. "Die Technologie ist fertig und wird 2007 in den Markt eingeführt", erläuterte Geschäftsführer Hubert Hamm. Auch bei diesem Vorgang, und etwa in Blockheizkraftwerken und Biogasanlagen, entsteht Abwärme, die bislang ungenutzt verpuffte. Das neue Verfahren der Aqua Society GmbH nutzt diese Wärme, die mit Temperaturen zwischen 85 und 110 Grad relativ niedrig ist, um Strom zu erzeugen. "Und das ohne Kohlenstoffdioxid an die Umwelt abzugeben", so Hamm.

Die Prototypanlage steht in einer Halle an der Langenbochumer Straße. Ist sie in vollem Gange, macht sie einiges an Lärm, aber vor allem heiße Luft, die durch ein Rohr zu einer Turbine geleitet wird und diese antreibt - so entsteht Energie, die als Strom genutzt werden kann. Drei Mittel bilden die Flüssigkeit, die in dem Tank verdampft. Ihr Vorteil: Ein niedriger Siedepunkt. Hamm: "Ein Teil davon wurde bislang als Reinigungsmittel verwendet." Mehr verrät er nicht über die wirkungsvolle Zusammensetzung.


Die Technik, die seine Mitarbeiter zusammengebaut haben, sei generell nicht neu. "Bloß hat niemand die Komponenten bislang zusammenarbeiten lassen", so der Aqua Society-Geschäftsführer. Bei ihm arbeiten sie nun zusammen und bald vielleicht auch weltweit. Denn eine Studie des Fraunhofer Instituts im Auftrag der Aqua Society hat ergeben, dass weltweit Wärme "weggeschmissen wird", wie Hamm formuliert: "Das geht in den Milliardenbereich." Jetzt steht das Hertener Unternehmen in Verhandlungen mit einem großen Energieversorger und einem Aluminiumwerk. Hamm: "Die Langzeitversuche sind gelaufen, jetzt starten wir Pilotprojekte."

FAKTEN-FAKTEN-FAKTEN

http://www.finanznachrichten.de/nachrichten-2006-12/artikel-…

Technologischer Durchbruch auf Pressekonferenz präsentiert: Aqua Society erzeugt unter wirtschaftlichen Bedingungen Strom aus Niedertemperaturwärme

Herten (ots) - Der Aqua Society (Nachrichten) GmbH ist es nach einem weiteren Entwicklungsschritt nachweisbar gelungen, Strom aus thermischer Energie zu erzeugen, die aufgrund ihres niedrigen Temperaturniveaus bislang als Abwärme betrachtet wurde und in Fachkreisen als wirtschaftlich nicht nutzbar gilt. Dies teilte Aqua Society in Herten mit, wo am Donnerstag, den 21. Dezember 2006, das Verfahren der Fachpresse vorgestellt wurde.

Nach Überzeugung des Unternehmens stellt das derzeit im Dauertest befindliche Verfahren einen technologischen Durchbruch dar. Aqua Society hat es mit einer Prototypanlage geschafft, unter wirtschaftlichen Bedingungen Strom aus Abwärme mit Ausgangstemperaturen von weniger als 90 Grad Celsius zu erzeugen. Diese vergleichsweise niedrigen Temperaturen werden bereits im Kühlwasserkreislauf eines Motors, beispielsweise dem einer Biogasanlage oder eines Blockheizkraftwerkes, gemessen.

Bisher wird Wärme auf vergleichbarem Temperaturniveau außer für Heizzwecke - wozu in vielen Fällen keine sinnvolle Möglichkeit besteht - ungenutzt an die Umwelt abgegeben und somit keiner wirtschaftlichen Nutzung zugeführt. Von ökologischer Bedeutung ist zudem, dass der unter diesen Rahmenbedingungen erzeugte Strom keine zusätzlichen CO2-Emissionen verursacht.

Optimierter ORC-Prozess führt zu höherer Stromausbeute

Bei dem Verfahren kommt ein optimierter ORC-Prozess ("Organic Rankine Cycle") zum Einsatz. ORC-Module werden derzeit verstärkt in Geothermie- oder Biomasse-Anlagen zur Stromerzeugung eingesetzt und arbeiten nach dem gleichen Prinzip wie der konventionelle Wasserdampf-Prozess. Statt Wasser wird jedoch ein organisches Arbeitsmedium mit einem niedrigen Siedepunkt verwendet, das als Treibdampf eine Turbine antreibt.

Um die technischen Bedingungen der Entspannung - physikalisch gesehen der Übergang eines Gases von einem höheren zu einem niedrigeren Druck - im Hinblick auf den Wirkungsgrad und die Stromausbeute an das niedrigere Temperaturniveau anzupassen, setzt Aqua Society statt einer Turbine ein spezielles Niederdruck-Entspannungsaggregat ein. Der entscheidende Vorteil gegenüber herkömmlichen ORC-Prozessen besteht in den deutlich geringeren Investitionskosten, wodurch der Prozess von Aqua Society schon bei niedrigeren Temperaturen wirtschaftlich günstiger arbeiten kann als dies mit konventionellen Verfahren möglich ist.

Test liefert Beweis für Verfahren, das technisch so bisher nicht möglich war

Da die bisher ungenutzte Abwärme kostenlos zur Verfügung steht, wird der Einsatz des von Aqua Society modifizierten ORC-Prozesses zur Stromerzeugung bereits ab einem Wirkungsgrad von sechs bis acht Prozent wirtschaftlich interessant. Diese Werte wurden bei dem noch laufenden Dauertest nachhaltig erzielt und lassen eine erfolgreiche Vermarktung der Anlagen in absehbarer Zeit realistisch erscheinen. Aqua Society hat damit unter Beweis gestellt, was technisch bisher als unmöglich galt: Unter wirtschaftlichen Bedingungen Strom aus Wärme im Temperaturbereich bis 90 Grad Celsius zu erzeugen.
Der nächste Schritt ist die Produktion einer Kleinserie, deren Anlagen im Praxistest an laufenden Blockheizkraftwerken - bevorzugt in Verbindung mit Biogasanlagen - eingesetzt werden sollen. Die ersten Anlagen werden voraussichtlich im Frühjahr 2007 an BHKWs angekoppelt.

Die ökologischen und ökonomischen Vorteile der von Aqua Society entwickelten Technologie liegen klar auf der Hand: Strom aus bisher ungenutzter Abwärme ist CO2-neutral. Die Reduzierung der ansonsten an die Umwelt abgegebenen Abwärme ist ökologisch sinnvoll. Und volkswirtschaftlich ist die verbesserte Energieeffizienz interessant, da vorhandene Wärme in veredelte Energie in Form von Strom umgewandelt wird.

Das energetische und ökonomische Potenzial der Niedertemperaturwärme wurde in einer Studie des Fraunhofer-Instituts für Umwelt-, Sicherheits- und Energietechnik UMSICHT in Oberhausen ermittelt, die im Auftrag von Aqua Society erstellt worden ist. Zusätzlich zu der Abwärme aus industriellen Umwandlungsprozessen können danach vor allem auch regenerative Energiequellen wie die Geothermie oder die Solarthermie erschlossen werden, die sich im Niedertemperaturbereich bewegen.

Die Aqua Society GmbH ist die operative Tochter der Aqua Society, Inc., deren Aktien in Frankfurt (WKN: A0DPH0, ISIN: US03841C1009) und New York (OTC BB: AQAS.OB) gehandelt werden.

Originaltext: Aqua Society, Inc. Digitale Pressemappe: http://presseportal.de/story.htx?firmaid=56717 Pressemappe via RSS : feed://presseportal.de/rss/pm_56717.rss2 ISIN: US03841C1009

Pressekontakt: Dr. Volker Schulz Aqua Society GmbH Zukunftszentrum Herten Konrad-Adenauer-Straße 9-13 45699 Herten

Tel.: [phone] E-Mail: [e-mail]

Fakten-Fakten-Fakten

http://www.sec.gov/Archives/edgar/data/1213111/0001062993060…

8-K 1 form8k.htm CURRENT REPORT
--------------------------------------------------------------------------------

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

September 30, 2006
Date of Report (Date of earliest event reported)

AQUA SOCIETY, INC.
(Exact name of registrant as specified in its charter)

NEVADA 000-50163 52-2357931
(State or other jurisdiction of (Commission File (IRS Employer Identification No.)
incorporation) Number)

Konrad - Adenauer Strasse 9-13
45699 Herten, Germany _________________
(Address of principal executive offices) (Zip Code)

011-49-6031-791-760
Registrant\\'s telephone number, including area code

NOT APPLICABLE
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))


--------------------------------------------------------------------------------

SECTION 1 – REGISTRANT’S BUSINESS AND OPERATIONS

ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

On September 30, 2006, our wholly owned subsidiary, Aqua Society GmbH (“Aqua GmbH”), entered into an exclusive patent license agreement (the “License Agreement”) with Ecoenergy Patent GmbH (“Ecoenergy”). Under the terms of the License Agreement, Aqua GmbH has obtained exclusive rights (the “License Rights”) to manufacture, use and distribute products based on the following patent pending technologies (collectively, the “Ecoenergy Technologies”):

Patent Number Name
International Patent Application No. 2005/061858 Method for converting heat energy into mechanical energy with a low-pressure expansion device.
International Patent Application No. 2005/066466 Method and system for converting heat energy into mechanical energy.
International Patent Application No. 2005/061973 Method and system for increasing the temperature of a vaporous working medium.
International Patent Application No. 2005/066465 Method and installation for converting heat energy from refrigerating machines.
International Patent Application No. 2005/078243 Method and installation for converting thermal energy from fluids into mechanical energy.
International Patent Application No. 2005/061857 Device and method for converting heat energy into mechanical energy.

The License Rights extend within the signatory countries to the European Patent Convention, the United States of America and India (the “License Territory”) for a period of 15 years, unless terminated earlier in accordance with its provisions.

A summary of the material provisions of the License Agreement is provided below. The following summary does not purport to be complete, and is qualified in its entirety by reference to the full text of the translated License Agreement, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K, and is incorporated by reference herein.

Scope of License Rights

The License Rights are exclusive and cover the manufacture, use and distribution of products based on the Ecoenergy Technologies within the following areas (collectively, the “Technical Applications”):

1. Energy recovery from the waste heat generated when drawing water from the atmosphere;


2. Energy recovery from the waste heat generated by refrigeration and air conditioning systems;


3. Energy recovery from the waste heat generated by block-type thermal power stations;


4. Energy recovery from the waste heat from industrial heat processes; and


5. Energy recovery from the waste heat of exhaust and sewage streams.


The prior written approval of Ecoenergy is required in order to sublicense any of the License Rights or to contract out the manufacture of products based on the Ecoenergy Technologies to third parties.

Annual Royalty and Patent Maintenance Fees

Aqua GmbH is required to pay annual royalties to Ecoenergy as follows:

(a) 2% of annual sales revenues (without sales tax) earned by Aqua GmbH up to EUR 50,000,000;


(b) 1.5% of the portion of annual sales revenues (without sales tax) in excess of EUR 50,000,000 up to EUR 100,000,000; and


2


--------------------------------------------------------------------------------

(c) 1% of the portion of annual sales revenues (without sales tax) in excess of EUR 100,000,000.


Any revenues earned by Aqua GmbH from the sublicensing of the License Rights are to be included in annual sales revenues.

In addition to paying the annual royalty amounts to Ecoenergy, Aqua GmbH is required to pay all costs and fees associated with maintaining the patent rights associated with the Ecoenergy Technologies. In particular, Aqua GmbH is required to pay for any filing fees required to keep the patent and/or patent applications associated with the Ecoenergy Technologies in good standing with the relevant patent authorities within the License Territory and any associated attorneys’ fees.

Minimum Sales Requirements

In order to maintain its exclusive License Rights under the License Agreement, Aqua GmbH is required to generate minimum annual sales revenues for each Technical Application to which the License Rights apply. If Aqua GmbH fails to meet the minimum annual sales requirements for any Technical Application for two consecutive years, the License Rights, as applied to that particular Technical Application, automatically become non-exclusive. If, after the License Rights become non-exclusive as a result of a failure to meet the minimum sales requirements, Aqua GmbH again fails to meet the minimum annual sales requirements for two consecutive years, Ecoenergy may, at its option, terminate Aqua GmbH’s non-exclusive License Rights for that particular Technical Application. In order to exercise its option to terminate, Ecoenergy must inform Aqua GmbH of its intention to do so, in writing, within 4 weeks after receiving Aqua GmbH’s statement of accounts relating to the total annual sales of products based on the Ecoenergy Technologies and, in no case, later than June 30th.

A failure to meet the minimum sales requirements for any particular Technical Application will not affect Aqua GmbH’s License Rights for any other Technical Application.

The minimum annual sales requirements for each Technical Application are as follows:

1. Energy recovery from the waste heat generated when drawing water from the atmosphere

Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 500,000
2008 EUR 750,000
2009 EUR 1,000,000
2010 to expiration EUR 2,000,000

2. Energy recovery from the waste heat generated by refrigeration and air conditioning systems

Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 500,000
2008 EUR 750,000
2009 EUR 900,000
2010 to expiration EUR 2,000,000

3. Energy recovery from the waste heat generated by block-type thermal power stations

Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 1,200,000
2008 EUR 1,500,000
2009 EUR 1,500,000
2010 to expiration EUR 3,000,000

4. Energy recovery from the waste heat from industrial heat processes

Year Minimum Annual Sales Requirement

3


--------------------------------------------------------------------------------

2006 EUR 0
2007 EUR 400,000
2008 EUR 500,000
2009 EUR 800,000
2010 to expiration EUR 1,500,000

5. Energy recovery from the waste heat of exhaust and sewage streams

Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 400,000
2008 EUR 500,000
2009 EUR 800,000
2010 to expiration EUR 1,500,000

SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits



Exhibit Number Description of Exhibit
10.1 Patent License Agreement between Ecoenergy Patent GmbH and Aqua Society GmbH, executed by Ecoenergy Patent GmbH on August 21, 2006, and by Aqua Society GmbH on September 30, 2006 (translated from German to English).


10.2 Attachment 1 to Patent License Agreement between Ecoenergy Patent GmbH and Aqua Society GmbH, executed by Ecoenergy Patent GmbH on August 21, 2006, and by Aqua Society GmbH on September 30, 2006 (German Language).


SIGNATURE

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 hereunto duly authorized.

AQUA SOCIETY, INC.

Date: October 5, 2006 By: /s/ Petrus Lodestijn
PETRUS LODESTIJN
Chief Executive Officer,
President and Secretary

4

--------------------------------------------------------------------------------

Hubert Hamm erklaert auf der Pressekonferenz am 21-12-2006 das Energiemodul



Rob Terberg (CEO der Aqua Society Inc.) und Hubert Hamm praesentieren am 21-12-2006 das Energiemodul

[krofisch]

Antwort auf Beitrag Nr.: 26.788.673 von westfale64 am 09.01.07 12:35:06

Und noch mehr Fakten:

http://www.aqua-society.com/DOWNLOADS/Presseartikel/Reckling…

[Teddybear]

Oh, der Firmenbeamte müllt wieder den Thread zu mit seinem Spam. Das bedeutet wohl, daß der Jahresbericht fertig ist und er sich wieder seiner Aufgabe als Hausmeister und Forenpusher widmen kann.

[Borealis]

Antwort auf Beitrag Nr.: 26.939.647 von Teddybear am 15.01.07 18:56:20

"Das bedeutet wohl, daß der Jahresbericht fertig ist und er sich wieder seiner Aufgabe als Hausmeister und Forenpusher widmen kann."

Na so ganz sehe ich das noch nicht, daß der Bericht fertig wäre.
Vielleicht soll Krofisch auch nur die Lemminge bei Laune halten, wenn es am Mittwoch mit Aqua vielleicht zu den Pinksheets geht.

[Leichtmatrose]

Antwort auf Beitrag Nr.: 26.939.562 von krofisch am 15.01.07 18:50:29

Und noch mehr Fakten:



Schön zu lesen, dass nun auch endlich die dringende Warnung der Schutzgemeinschaft der Kapitalanleger in dieses Unternehmen zu investieren, Eingang auf die Internetseite der Aqua Society gefunden hat!

Info:
Aqua Society

♦ Aqua Society sah sich zuletzt mit Vorwürfen über ein „dubioses Gaschäftsmodell“ konfrontiert.
Das Unternehmen, das mit Bergbautechnologie auch Wasser aus Luft gewinnen will,soll Millioneneinnahmen aus Aktienverkäufen eingestrichen, aber noch kein eigenes Produkt verkauft haben. Die Schutzgemeinschaft der Kapitalanleger warnte „dringend“ davor, in das Unternehmen zu investieren.
♦ Geschäftsführer Hubert Hamm weist die gegen ihn erhobenen Vorwürfe zurück. Er räumt aber ein, „dass Trinkwassergewinnung aus der Luft nicht das Produkt ist, mit dem Aqua Society heute den Durchbruch schafft.“
♦ Die Aqua-Society-Aktie bewegt sich zur Zeit bei 40 Cent. Vor einem Jahr stand sie an der US-Börse Nasdaq bei 3,50 Dollar.
―ak
Recklinghäuser Zeitung 22.12.2006

[wohinistmeinGeld]

jetzt geht das wieder los, und ich dachte er gibt Ruhe. Haben die ihre letzten Aktien doch noch nicht alle losbekommen?

[krofisch]

Antwort auf Beitrag Nr.: 26.940.293 von Borealis am 15.01.07 19:32:10

FAKTEN-FAKTEN-FAKTEN

1.)
Bericht Recklinghäuser Zeitung 22.12.2006

http://www.aqua-society.com/DOWNLOADS/Presseartikel/Reckling…

oder

2.)
Bericht WAZ


http://www.waz.de/waz/waz.herten.volltext.php?kennung=on6waz…

Aus heißer Luft wird Strom

Aqua Society GmbH hat ein Verfahren entwickelt, bei dem aus Abwärme im niedrigen Temperaturbereich Strom erzeugt werden kann. Anlage könnte etwa zusammen mit einer Biogasanlage betrieben werden Ein Krankenhaus oder ein Hotel dort, wo es weder Wasser noch Strom gibt - ein schwieriges Unterfangen. Abhilfe könnte ein neues Verfahren der Aqua Society GmbH schaffen. Das Hertener Unternehmen hat zum einen Geräte entwickelt, mit denen Trinkwasser aus der Luft gewonnen werden kann. "Die Technologie ist fertig und wird 2007 in den Markt eingeführt", erläuterte Geschäftsführer Hubert Hamm. Auch bei diesem Vorgang, und etwa in Blockheizkraftwerken und Biogasanlagen, entsteht Abwärme, die bislang ungenutzt verpuffte. Das neue Verfahren der Aqua Society GmbH nutzt diese Wärme, die mit Temperaturen zwischen 85 und 110 Grad relativ niedrig ist, um Strom zu erzeugen. "Und das ohne Kohlenstoffdioxid an die Umwelt abzugeben", so Hamm.

Die Prototypanlage steht in einer Halle an der Langenbochumer Straße. Ist sie in vollem Gange, macht sie einiges an Lärm, aber vor allem heiße Luft, die durch ein Rohr zu einer Turbine geleitet wird und diese antreibt - so entsteht Energie, die als Strom genutzt werden kann. Drei Mittel bilden die Flüssigkeit, die in dem Tank verdampft. Ihr Vorteil: Ein niedriger Siedepunkt. Hamm: "Ein Teil davon wurde bislang als Reinigungsmittel verwendet." Mehr verrät er nicht über die wirkungsvolle Zusammensetzung.


Die Technik, die seine Mitarbeiter zusammengebaut haben, sei generell nicht neu. "Bloß hat niemand die Komponenten bislang zusammenarbeiten lassen", so der Aqua Society-Geschäftsführer. Bei ihm arbeiten sie nun zusammen und bald vielleicht auch weltweit. Denn eine Studie des Fraunhofer Instituts im Auftrag der Aqua Society hat ergeben, dass weltweit Wärme "weggeschmissen wird", wie Hamm formuliert: "Das geht in den Milliardenbereich." Jetzt steht das Hertener Unternehmen in Verhandlungen mit einem großen Energieversorger und einem Aluminiumwerk. Hamm: "Die Langzeitversuche sind gelaufen, jetzt starten wir Pilotprojekte."

FAKTEN-FAKTEN-FAKTEN

http://www.finanznachrichten.de/nachrichten-2006-12/artikel-…

Technologischer Durchbruch auf Pressekonferenz präsentiert: Aqua Society erzeugt unter wirtschaftlichen Bedingungen Strom aus Niedertemperaturwärme

Herten (ots) - Der Aqua Society (Nachrichten) GmbH ist es nach einem weiteren Entwicklungsschritt nachweisbar gelungen, Strom aus thermischer Energie zu erzeugen, die aufgrund ihres niedrigen Temperaturniveaus bislang als Abwärme betrachtet wurde und in Fachkreisen als wirtschaftlich nicht nutzbar gilt. Dies teilte Aqua Society in Herten mit, wo am Donnerstag, den 21. Dezember 2006, das Verfahren der Fachpresse vorgestellt wurde.

Nach Überzeugung des Unternehmens stellt das derzeit im Dauertest befindliche Verfahren einen technologischen Durchbruch dar. Aqua Society hat es mit einer Prototypanlage geschafft, unter wirtschaftlichen Bedingungen Strom aus Abwärme mit Ausgangstemperaturen von weniger als 90 Grad Celsius zu erzeugen. Diese vergleichsweise niedrigen Temperaturen werden bereits im Kühlwasserkreislauf eines Motors, beispielsweise dem einer Biogasanlage oder eines Blockheizkraftwerkes, gemessen.

Bisher wird Wärme auf vergleichbarem Temperaturniveau außer für Heizzwecke - wozu in vielen Fällen keine sinnvolle Möglichkeit besteht - ungenutzt an die Umwelt abgegeben und somit keiner wirtschaftlichen Nutzung zugeführt. Von ökologischer Bedeutung ist zudem, dass der unter diesen Rahmenbedingungen erzeugte Strom keine zusätzlichen CO2-Emissionen verursacht.

Optimierter ORC-Prozess führt zu höherer Stromausbeute

Bei dem Verfahren kommt ein optimierter ORC-Prozess ("Organic Rankine Cycle") zum Einsatz. ORC-Module werden derzeit verstärkt in Geothermie- oder Biomasse-Anlagen zur Stromerzeugung eingesetzt und arbeiten nach dem gleichen Prinzip wie der konventionelle Wasserdampf-Prozess. Statt Wasser wird jedoch ein organisches Arbeitsmedium mit einem niedrigen Siedepunkt verwendet, das als Treibdampf eine Turbine antreibt.

Um die technischen Bedingungen der Entspannung - physikalisch gesehen der Übergang eines Gases von einem höheren zu einem niedrigeren Druck - im Hinblick auf den Wirkungsgrad und die Stromausbeute an das niedrigere Temperaturniveau anzupassen, setzt Aqua Society statt einer Turbine ein spezielles Niederdruck-Entspannungsaggregat ein. Der entscheidende Vorteil gegenüber herkömmlichen ORC-Prozessen besteht in den deutlich geringeren Investitionskosten, wodurch der Prozess von Aqua Society schon bei niedrigeren Temperaturen wirtschaftlich günstiger arbeiten kann als dies mit konventionellen Verfahren möglich ist.

Test liefert Beweis für Verfahren, das technisch so bisher nicht möglich war

Da die bisher ungenutzte Abwärme kostenlos zur Verfügung steht, wird der Einsatz des von Aqua Society modifizierten ORC-Prozesses zur Stromerzeugung bereits ab einem Wirkungsgrad von sechs bis acht Prozent wirtschaftlich interessant. Diese Werte wurden bei dem noch laufenden Dauertest nachhaltig erzielt und lassen eine erfolgreiche Vermarktung der Anlagen in absehbarer Zeit realistisch erscheinen. Aqua Society hat damit unter Beweis gestellt, was technisch bisher als unmöglich galt: Unter wirtschaftlichen Bedingungen Strom aus Wärme im Temperaturbereich bis 90 Grad Celsius zu erzeugen.
Der nächste Schritt ist die Produktion einer Kleinserie, deren Anlagen im Praxistest an laufenden Blockheizkraftwerken - bevorzugt in Verbindung mit Biogasanlagen - eingesetzt werden sollen. Die ersten Anlagen werden voraussichtlich im Frühjahr 2007 an BHKWs angekoppelt.

Die ökologischen und ökonomischen Vorteile der von Aqua Society entwickelten Technologie liegen klar auf der Hand: Strom aus bisher ungenutzter Abwärme ist CO2-neutral. Die Reduzierung der ansonsten an die Umwelt abgegebenen Abwärme ist ökologisch sinnvoll. Und volkswirtschaftlich ist die verbesserte Energieeffizienz interessant, da vorhandene Wärme in veredelte Energie in Form von Strom umgewandelt wird.

Das energetische und ökonomische Potenzial der Niedertemperaturwärme wurde in einer Studie des Fraunhofer-Instituts für Umwelt-, Sicherheits- und Energietechnik UMSICHT in Oberhausen ermittelt, die im Auftrag von Aqua Society erstellt worden ist. Zusätzlich zu der Abwärme aus industriellen Umwandlungsprozessen können danach vor allem auch regenerative Energiequellen wie die Geothermie oder die Solarthermie erschlossen werden, die sich im Niedertemperaturbereich bewegen.

Die Aqua Society GmbH ist die operative Tochter der Aqua Society, Inc., deren Aktien in Frankfurt (WKN: A0DPH0, ISIN: US03841C1009) und New York (OTC BB: AQAS.OB) gehandelt werden.

Originaltext: Aqua Society, Inc. Digitale Pressemappe: http://presseportal.de/story.htx?firmaid=56717 Pressemappe via RSS : feed://presseportal.de/rss/pm_56717.rss2 ISIN: US03841C1009

Pressekontakt: Dr. Volker Schulz Aqua Society GmbH Zukunftszentrum Herten Konrad-Adenauer-Straße 9-13 45699 Herten

Tel.: [phone] E-Mail: [e-mail]

Fakten-Fakten-Fakten

http://www.sec.gov/Archives/edgar/data/1213111/0001062993060…

8-K 1 form8k.htm CURRENT REPORT
--------------------------------------------------------------------------------

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

September 30, 2006
Date of Report (Date of earliest event reported)

AQUA SOCIETY, INC.
(Exact name of registrant as specified in its charter)

NEVADA 000-50163 52-2357931
(State or other jurisdiction of (Commission File (IRS Employer Identification No.)
incorporation) Number)

Konrad - Adenauer Strasse 9-13
45699 Herten, Germany _________________
(Address of principal executive offices) (Zip Code)

011-49-6031-791-760
Registrant\\'s telephone number, including area code

NOT APPLICABLE
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))


--------------------------------------------------------------------------------

SECTION 1 – REGISTRANT’S BUSINESS AND OPERATIONS

ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

On September 30, 2006, our wholly owned subsidiary, Aqua Society GmbH (“Aqua GmbH”), entered into an exclusive patent license agreement (the “License Agreement”) with Ecoenergy Patent GmbH (“Ecoenergy”). Under the terms of the License Agreement, Aqua GmbH has obtained exclusive rights (the “License Rights”) to manufacture, use and distribute products based on the following patent pending technologies (collectively, the “Ecoenergy Technologies”):

Patent Number Name
International Patent Application No. 2005/061858 Method for converting heat energy into mechanical energy with a low-pressure expansion device.
International Patent Application No. 2005/066466 Method and system for converting heat energy into mechanical energy.
International Patent Application No. 2005/061973 Method and system for increasing the temperature of a vaporous working medium.
International Patent Application No. 2005/066465 Method and installation for converting heat energy from refrigerating machines.
International Patent Application No. 2005/078243 Method and installation for converting thermal energy from fluids into mechanical energy.
International Patent Application No. 2005/061857 Device and method for converting heat energy into mechanical energy.

The License Rights extend within the signatory countries to the European Patent Convention, the United States of America and India (the “License Territory”) for a period of 15 years, unless terminated earlier in accordance with its provisions.

A summary of the material provisions of the License Agreement is provided below. The following summary does not purport to be complete, and is qualified in its entirety by reference to the full text of the translated License Agreement, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K, and is incorporated by reference herein.

Scope of License Rights

The License Rights are exclusive and cover the manufacture, use and distribution of products based on the Ecoenergy Technologies within the following areas (collectively, the “Technical Applications”):

1. Energy recovery from the waste heat generated when drawing water from the atmosphere;


2. Energy recovery from the waste heat generated by refrigeration and air conditioning systems;


3. Energy recovery from the waste heat generated by block-type thermal power stations;


4. Energy recovery from the waste heat from industrial heat processes; and


5. Energy recovery from the waste heat of exhaust and sewage streams.


The prior written approval of Ecoenergy is required in order to sublicense any of the License Rights or to contract out the manufacture of products based on the Ecoenergy Technologies to third parties.

Annual Royalty and Patent Maintenance Fees

Aqua GmbH is required to pay annual royalties to Ecoenergy as follows:

(a) 2% of annual sales revenues (without sales tax) earned by Aqua GmbH up to EUR 50,000,000;


(b) 1.5% of the portion of annual sales revenues (without sales tax) in excess of EUR 50,000,000 up to EUR 100,000,000; and


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(c) 1% of the portion of annual sales revenues (without sales tax) in excess of EUR 100,000,000.


Any revenues earned by Aqua GmbH from the sublicensing of the License Rights are to be included in annual sales revenues.

In addition to paying the annual royalty amounts to Ecoenergy, Aqua GmbH is required to pay all costs and fees associated with maintaining the patent rights associated with the Ecoenergy Technologies. In particular, Aqua GmbH is required to pay for any filing fees required to keep the patent and/or patent applications associated with the Ecoenergy Technologies in good standing with the relevant patent authorities within the License Territory and any associated attorneys’ fees.

Minimum Sales Requirements

In order to maintain its exclusive License Rights under the License Agreement, Aqua GmbH is required to generate minimum annual sales revenues for each Technical Application to which the License Rights apply. If Aqua GmbH fails to meet the minimum annual sales requirements for any Technical Application for two consecutive years, the License Rights, as applied to that particular Technical Application, automatically become non-exclusive. If, after the License Rights become non-exclusive as a result of a failure to meet the minimum sales requirements, Aqua GmbH again fails to meet the minimum annual sales requirements for two consecutive years, Ecoenergy may, at its option, terminate Aqua GmbH’s non-exclusive License Rights for that particular Technical Application. In order to exercise its option to terminate, Ecoenergy must inform Aqua GmbH of its intention to do so, in writing, within 4 weeks after receiving Aqua GmbH’s statement of accounts relating to the total annual sales of products based on the Ecoenergy Technologies and, in no case, later than June 30th.

A failure to meet the minimum sales requirements for any particular Technical Application will not affect Aqua GmbH’s License Rights for any other Technical Application.

The minimum annual sales requirements for each Technical Application are as follows:

1. Energy recovery from the waste heat generated when drawing water from the atmosphere

Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 500,000
2008 EUR 750,000
2009 EUR 1,000,000
2010 to expiration EUR 2,000,000

2. Energy recovery from the waste heat generated by refrigeration and air conditioning systems

Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 500,000
2008 EUR 750,000
2009 EUR 900,000
2010 to expiration EUR 2,000,000

3. Energy recovery from the waste heat generated by block-type thermal power stations

Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 1,200,000
2008 EUR 1,500,000
2009 EUR 1,500,000
2010 to expiration EUR 3,000,000

4. Energy recovery from the waste heat from industrial heat processes

Year Minimum Annual Sales Requirement

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2006 EUR 0
2007 EUR 400,000
2008 EUR 500,000
2009 EUR 800,000
2010 to expiration EUR 1,500,000

5. Energy recovery from the waste heat of exhaust and sewage streams

Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 400,000
2008 EUR 500,000
2009 EUR 800,000
2010 to expiration EUR 1,500,000

SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits



Exhibit Number Description of Exhibit
10.1 Patent License Agreement between Ecoenergy Patent GmbH and Aqua Society GmbH, executed by Ecoenergy Patent GmbH on August 21, 2006, and by Aqua Society GmbH on September 30, 2006 (translated from German to English).


10.2 Attachment 1 to Patent License Agreement between Ecoenergy Patent GmbH and Aqua Society GmbH, executed by Ecoenergy Patent GmbH on August 21, 2006, and by Aqua Society GmbH on September 30, 2006 (German Language).


SIGNATURE

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 hereunto duly authorized.

AQUA SOCIETY, INC.

Date: October 5, 2006 By: /s/ Petrus Lodestijn
PETRUS LODESTIJN
Chief Executive Officer,
President and Secretary

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Hubert Hamm erklaert auf der Pressekonferenz am 21-12-2006 das Energiemodul



Rob Terberg (CEO der Aqua Society Inc.) und Hubert Hamm praesentieren am 21-12-2006 das Energiemodul

[krofisch]

Antwort auf Beitrag Nr.: 26.940.293 von Borealis am 15.01.07 19:32:10

Na so ganz sehe ich das noch nicht, daß der Bericht fertig wäre.


Borealis antwortet Borealis:

#1011 von Borealis 16.01.07 15:54:55 Beitrag Nr.: 26.958.666
Dieses Posting: versenden | melden | drucken | Antwort schreiben AQUA SOCIETY NEW D


Heute abend könnte es wieder was zum Lachen geben.
Aqua hat den Bericht abgegeben. Der ist zwar noch nicht veröffentlicht, wird aber von der OTC als vorhanden angegeben ("Compliance Achieved, 1/16/2007").

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 26.962.588 von krofisch am 16.01.07 18:21:40

na krofischchen, hast du wieder Probleme mit dem Lesen?

[westfale64]

Den OTC-Betrügern ist kein Pusher zu peinlich -Hauptsache , die Dummen kaufen den Altaktionären ihre Schrottpapiere ab.

#4540
#4568

Aktionärsabzocke vom Feinsten

[Teddybear]

Für die, die keine Lust haben, sich durch den Bericht zu wühlen:

- Jahresumsatz 2006 2,2 Millionen Dollar

- Umsatz ausschließlich durch An- und Verkauf fremder Produkte sowie durch normale Ingenieursdiensleitungen (für die sich der Alt-/Großaktionär Hamm fürstlich entlohnen läßt)

- Weiterhin ausdrücklich keinerlei Umsatz mit eigenen Produkten

- Verlust 4,3 Millionen Dollar

- 8 Mitarbeiter, genau wie schon vor einem Jahr

- allein die "General and Administative Expenses" sind mit 4,8 Millionen Dollar doppelt so hoch wie der Umsatz.

- ein beträchtlicher Teil dieser "Expenses" landet als "Consulting"-Honorare in den Taschen der Alt-/Großaktionäre Hamm, Stamm und Oser.

- Assets einschließlich Cash, Anlagen und Patentrechte ca. 1,1 Millionen Dollar

- die meisten Patentanmeldungen gehören einer Firma ("Ecoenergy"), die den Alt-/Großaktionären Hamm und Oser gehört. Aqua bezahlt für deren Nutzung (die bislang keinen Cent Umsatz gebracht hat).

- Das Kasperletheater mit Klitschko Anfang 2006 (Aktienverkaufswerbung bei Boxkampf) hat an die 300.000 Dollar gekostet

- Die Ausführung des im März 2006 groß gemeldeten "Auftrags" der Loick AG in Dorsten verzögert sich auf irgendwann im Jahr 2007, weil der "Kunde" dummerweise seinen Teil der Anlage noch umbaut. Selbstverständlich hat Aqua keinen Einfluß darauf, ob und wann Loick jemals damit fertig wird.

- Ein im April 2006 groß angekündigtes "Joint Venture" (u.a. mit der Loick AG) ist bereits wieder aufgegeben worden

- Die Ausführung einer im April 2006 groß verkündeten "Bestellung" der "More Power Enerie GmbH" (damals noch "in Gründung") verzögert sich auf irgendwann im Jahr 2007. Leider kann Aqua nicht garantieren, damit jemals fertig zu werden, und sollte das Teil je fertig werden, daß es dann auch funktioniert.

- Die Ausführung eines im April 2006 groß verkündeten "Auftrags" aus Indien (!) für "Aquamission" verzögert sich leider auf mindestens Sommer 2007, weil der "Partner" in Indien noch nicht mal die Planung für den "Appartmentkomplex" fertig hat. Selbstverständlich hat Aqua keinen Einfluß darauf, ob und wann die Inder jemals mit dem Bau auch nur anfangen werden.

- Die für Herbst 2005 (!) geplante Auslieferung eines "Aquamission"-Geräts an die spanische "Firma Kal-Tec Espana S.L." (von der es außer der "Bestellung" bei Aqua keinerlei sichtbare Aktivität gibt) ist immer noch nicht erfolgt. Weils so schön ist, hier das Original: "We are currently in discussions with Kal-Tec regarding the status of their order." Leider kann Aqua nicht garantieren, daß die Anlage jemals fertig wird und wenn doch, daß die Lieferung der "unit" akzeptiert wird (was für Verträge hat Aqua denn mit seinen "Kunden"?)

- Die ebenfalls für 2005 (!) angekündigte Auslierferung von 15 Einheiten "Thermomobil" an "BS Technik" verzöger sich weiter: "As a result of these delays, there are no assurances that BS Technik will still accept delivery of the ordered ThermoMobil units. We are currently in discussions with BS Technik regarding the status of their order and are in negotiations with them to deliver newly developed and improved ThermoMobil units."

Andere "Großaufträge" der Vergangenheit (z.B. Animox) werden nicht einmal mehr erwähnt.

Ich glaube, diese Auszüge aus dem Jahresbericht unseres Weltmarktführers in spe sprechen für sich.

[krofisch]

Antwort auf Beitrag Nr.: 26.981.132 von Teddybear am 17.01.07 13:47:13

http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

10KSB 1 form10ksb.htm
--------------------------------------------------------------------------------

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-KSB

(Mark One)

[X] Annual Report Under Section 13 Or 15(d) Of The Securities Exchange Act Of 1934

For the fiscal year ended September 30, 2006

[ ] Transition Report Under Section 13 Or 15(d) Of The Securities Exchange Act Of 1934

For the transition period from _____ to _____

COMMISSION FILE NUMBER: 000-50163

AQUA SOCIETY, INC.
(Name of small business issuer in its charter)

NEVADA 52-2357931
(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)

Konrad - Adenauer Strasse 9-13
45699 Herten, Germany
(Address of principal executive offices)

011-49-6031-791-760
Issuer’s telephone number

Securities registered under Section 12(b) of the Exchange Act: NONE.

Securities registered under Section 12(g) of the Exchange Act: Common Stock, $0.001 Par Value Per
Share.

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 [X] No [ ]

Check if there is no disclosure of delinquent filers in response to Item 405 of Regulation S-B contained in this
form, and no disclosure will be contained, to the best of registrant’s knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-KSB or any amendment to this
Form 10-KSB. [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange
Act). Yes [ ] No [X]

State issuer’s revenues for its most recent fiscal year. $2,203,763

State the aggregate market value of the voting and non-voting common equity held by non-affiliates
computed by reference to the price at which the common equity was sold, or the average bid and asked price
of such common equity, as of a specified date within the past 60 days. (See definition of affiliate in Rule 12b-2
of the Exchange Act.): $13,922,480 based on a price of $0.37 being the average of the closing bid and
ask price of the Company’s common stock as of September 29, 2006.

State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest
practicable date. 118,178,323 Shares of Common Stock as of January 8, 2007.

Transitional Small Business Disclosure Format (check one): Yes [ ] No [X]


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AQUA SOCIETY, INC.

ANNUAL REPORT ON FORM 10-KSB
FOR THE YEAR ENDED SEPTEMBER 30, 2006

INDEX

PAGE

PART I 3

ITEM 1. Description of Business. 3
ITEM 2. Description of Property. 12
ITEM 3. Legal Proceedings. 12
ITEM 4. Submission of Matters to a Vote of Security Holders. 12

PART II 13

ITEM 5. Market for Common Equity and Related Stockholder Matters. 13
ITEM 6. Management’s Discussion and Analysis or Plan of Operation. 14
ITEM 7. Financial Statements. 19
ITEM 8. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. 24
ITEM 8A. Controls and Procedures. 24
ITEM 8B. Other Information. 24

PART III 26

ITEM 9. Directors, Executive Officers, Promoters, Control Persons and Corporate Governance; Compliance with Section 16(A) of the Exchange Act. 26
ITEM 10. Executive Compensation. 28
ITEM 11. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 30
ITEM 12. Certain Relationships and Related Transactions, and Director Independence. 34
ITEM 13. Exhibits. 35
ITEM 14. Principal and Accountant Fees and Services. 37

SIGNATURES 38

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PART I

Certain statements contained in this Annual Report on Form 10-KSB constitute “forward-looking statements.” These statements, identified by words such as “plan,” “anticipate,” “believe,” “estimate,” “should,” “expect,” and similar expressions include our expectations and objectives regarding our future financial position, operating results and business strategy. These statements reflect the current views of management with respect to future events and are subject to risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from those described in the forward-looking statements. Such risks and uncertainties include those set forth under the caption “Management’s Discussion and Analysis or Plan of Operation” and elsewhere in this Annual Report. We advise you to carefully review the reports and documents we file from time to time with the Securities and Exchange Commission (the “SEC”), particularly our Quarterly Reports on Form 10-QSB and our Current Reports on Form 8-K.

As used in this Annual Report, the terms “we,” “us,” “our,” “Aqua Society,” and the “Company” mean Aqua Society, Inc. and its subsidiaries, unless otherwise indicated. All dollar amounts in this Annual Report are expressed in U.S. dollars, unless otherwise indicated.

ITEM 1. DESCRIPTION OF BUSINESS.

CORPORATE BACKGROUND

We were incorporated under the laws of the State of Nevada on March 2, 2000, under the name “V G Tech, Inc.”

On September 22, 2004, we completed the acquisition of Aqua Society GmbH (“Aqua GmbH”). Prior to our acquisition of Aqua GmbH, we were in the business of providing services in the areas of digital graphics and special effects. Upon completing the acquisition of Aqua GmbH, we abandoned this digital imaging business. We are now in the business of designing and developing applied technologies, and providing consulting services, in the areas of heating, ventilation, air conditioning, refrigeration, water purification, waste water treatment, and, our latest business segment, energy (collectively, the “Aqua Business”).

Effective December 27, 2004, we changed our name to “Aqua Society, Inc.” to better reflect the nature of our current business operations

Acquisition of Aqua GmbH

On September 22, 2004, we completed the acquisition of a 100% interest in Aqua GmbH from its sole stockholder, Water-Capital-Holding Ltd. (“Water”).

We acquired our 100% ownership interest in Aqua GmbH from Water in exchange for:

(a) the issuance of 10,000,000 shares of our common stock;


(b) the issuance of special warrants (the “Special Warrants”) to acquire 34,000,000 shares of our common stock; and


(c) the transfer to Water of 36,000,000 shares of our common stock owned by Steve Livingston, our former President, Secretary, Treasurer and Director, being all of the shares of our common stock owned by Mr. Livingston.


The Special Warrants entitled the holder to acquire one additional share of our common stock for each special warrant held, without the payment of any additional consideration. Under the terms of the Special Warrants, they could not be exercised until we had authorized capital of at least 200,000,000 shares of common stock (the “Triggering Event”). On December 6, 2004, we amended our Articles of Incorporation to increase our authorized capital to 300,000,000 shares of common stock. Upon effective filing of our Certificate of Amendment increasing our authorized capital to 300,000,000 shares of common stock, Water exercised the Special Warrants and we issued to them an additional 34,000,000 shares of our common

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stock. Pursuant to the terms of the Special Warrants, these shares were issued to Water without the payment of any additional consideration.

Under generally accepted accounting principles, our acquisition of Aqua GmbH has been accounted for as a reverse acquisition. As such, Aqua GmbH has been treated as the acquiring entity for accounting and financial reporting purposes. See Item 6, “Critical Accounting Policies.” As such, the financial statements attached to this Annual Report are presented as a continuation of the operations of Aqua GmbH, which was incorporated on May 13, 2004, and not our predecessor V G Tech, Inc.

Aqua Society GmbH

Aqua GmbH was founded as limited liability corporation (a Gesellschaft mit beschraenkter Haftung) under the federal laws of Germany on May 13, 2004. Prior to its acquisition by us, Aqua GmbH was primarily engaged in organizational activities and had earned no revenues to that point.

Aqua GmbH was formed for the purpose of developing commercial applications for its three core technologies (collectively, the “Aqua Technologies”). These Aqua Technologies have been used to develop the AquaMission, ThermoMobil and waste heat power generator products described below (collectively, the “Aqua Products”).

RECENT CORPORATE DEVELOPMENTS

The following significant corporate developments have occurred since the end of our September 30, 2005 fiscal year:

1. In February, 2006, we entered into an agreement with Sportfive GmbH & Co. KG, a sports management company representing heavyweight boxer, Wladamir Klitschko, to act as a sponsor of the heavyweight title fight between Mr. Klitschko and Chris Byrd. The fight took place on April 22, 2006 at the SAP Arena in Mannheim, Germany. Pursuant to our agreement with Sportfive, our logo appeared at various places around the ring and on various merchandise related to the fight, including the floor and the four corners of the ring, the press kit, and a full page inclusion in the official magazine for the fight. In consideration for these rights, we agreed to pay Sportfive EUR 175,000 (approximately $211,000) and related production costs of approximately EUR 64,000 (approximately $77,000), with VAT of 16% payable on both.


2. In February, 2006, we completed a private placement with two corporate investors of 1,160,960 units at a price of $1.04 per unit for total proceeds of $1,207,398 (approximately EUR 1,000,000). Each unit was comprised of one share of the Company’s common stock and one share purchase warrant. Each share purchase warrant entitles the holder to purchase one additional share of the Company’s common stock at a price of $1.30 per share for a period of two years from the date of closing. This private placement was completed pursuant to the provisions of Regulation S promulgated under the Securities Act of 1933. We did not engage in a distribution of this offering in the United States. Each of the investors has represented that they were not US persons as defined in Regulation S, and have provided representations indicating that they were acquiring our securities for investment purposes only and not with a view towards distribution. No underwriting discounts or commissions were involved.


3. In March, 2006, we received an order from Loick AG for a waste heat power generation system based on our Yellow Box product. Loick is a company based in Dorsten, Germany, that specializes in the development and production of renewable resource products such as bioplastics and biogas energy systems. The ordered unit is to be used to generate electricity from the waste heat generated by one of Loick’s existing biogas power generators. The biogas systems produced by Loick are used to supply electricity to the public grid in Germany.


The unit ordered by Loick is to be customized to the particular biogas generator to which it will be installed. Loick is currently installing a new motor onto the biogas generator. As such, the design and construction of the ordered waste heat power generation system is being delayed until Loick has


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completed the installation of the new motor. As of the date we filed this Annual Report, Loick had still not finished installing the motor. Loick has informed us that they expect to complete the installation of this motor sometime in 2007. We have no control over Loick’s installation of this motor and, as a result, we can provide no assurances when construction of the unit ordered by Loick will begin. Once construction has begun, we expect that it will take us approximately 3 months to complete.


4. In April, 2006, we announced that we had formed a joint venture with Loick AG and ODAS OHG, a company based in Dorsten, Germany, that specializes in the supply of plant based biomass raw materials. The joint venture entity, known as TMR GmbH, was originally formed to develop, build, distribute and manage renewable energy facilities. Subsequent to our September 30, 2006 fiscal year end, it was determined that we would not proceed with the TMR joint venture and, in December, 2006, we sold our interest in TMR to Loick for EUR 1.00.


5. In April, 2006, we announced that we had received an order from More Power Energie GmbH (“MPE”). MPE ordered a combined heat and power plant that is to be used to convert the waste heat from a biogas power plant into electricity. MPE intends to connect the ordered unit to a biogas power plant owned by a third party operator.


Specifications for the ordered unit were delivered by MPE during our 2006 fiscal year and construction is currently in progress. Construction was originally expected to take us approximately 3 months to complete, however we are still working with MPE to optimize the ordered unit and the plant in accordance with their specifications. We expect to complete construction and delivery of the ordered unit in 2007. However, there are no assurances that we will be able to complete the construction of this unit within the time frame estimated. In addition, even if we are able to complete construction of the ordered unit, there are no assurances that, once installed, it will function as expected.


6. In April, 2006, we announced that we had received an order to install AquaMission combined air-conditioning and drinking water supply systems to a residential complex to be constructed in Hyderabad, India by North East Developers and Real Estates (“North East Developers”). The AquaMissions to be supplied are also to be fitted with our EnergyMission / Yellow Box products. Schematics of the residential complex have not been finalized and construction of the complex has not yet begun. North East Developers has tentatively scheduled construction to begin in January, 2007. Based on this timetable, we do not expect to be able to begin designing and constructing the ordered units until at least the Summer of 2007. However, we have no control over the construction of the residential complex and we cannot begin building the units to be supplied to North East Developers until construction has begun and they have delivered the necessary schematics to us. There can be no assurances with respect to when we will receive the necessary schematics or that the actual units to be delivered will be those set out in the order. In addition, payment will be dependent upon the successful installation of the units ordered. There are no assurances that we will be able to successfully install the ordered units, or that, once installed, those units will function as expected.


7. We completed a private placement with a corporate investor for 1,245,375 units at a price of $0.88 per unit for total proceeds of $1,095,930 (approximately EUR 900,000). Each unit was comprised of one share of our common stock and one share purchase warrant. Each share purchase warrant entitles the holder to purchase one additional share of our common stock at a price of $1.10 per share for a period of two years from the date of closing. We had previously announced in February, 2006 that this private placement had been negotiated for 1,044,863 units at a subscription price of $1.04 per unit, with a share purchase warrant exercise price of $1.30 per share. The terms of this private placement were revised in order to reflect changes to the market price of our common stock and changes in foreign exchange rates. The subscribed for units were issued effective June 8, 2006 pursuant to the provisions of Regulation S on the basis that the offering does not involve a distribution in the United States and that the investor is not a U.S. person as defined in Regulation S. No underwriting discounts or commissions were involved.


8. In December, 2005, we had installed a ThermoMobil unit onto a Ford Transit to be used for marketing purposes. We had been working with a Ford dealership in Dusseldorf, Germany to market the ThermoMobil/Ford Transit in an effort to generate commercial sales of the ThermoMobil.


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However, we were unable to reach an agreement with the Ford dealership on a consumer price for the unit. As such, we are no longer pursuing our co-operative efforts with the Ford dealership. We now intend to use the ThermoMobil/Ford Transit unit as part of our marketing efforts in the Benelux countries (Belgium, the Netherlands and Luxembourg).


9. In June, 2006, we sold a 13.1% interest in UFI-TEC GmbH for proceeds of EUR 10,072 (approximately $12,237). As a result we now own only 19.9% of UFI-TEC.


10. On September 30, 2006 we entered into an exclusive patent license agreement with Ecoenergy Patent GmbH. Under the terms of the license agreement, we obtained exclusive rights to manufacture, use and distribute products based on certain patent pending technologies. See “Intellectual Property Rights,” below.


11. After the completion of our 2006 fiscal year, we completed the construction of a demonstration prototype of our EnergyMission / Yellow Box technology. A media event to showcase this demonstration model was held at our facilities on December 21, 2006. This demonstration unit will be used by us for marketing and demonstration purposes as well as for research and development.


12. On December 21, 2006, our Board of Directors approved and adopted our 2006 Stock Option Plan (the “2006 Option Plan”). Under the 2006 Option Plan, options may be granted for a maximum of 7,000,000 shares of our common stock. The maximum number of shares that may be optioned under the 2006 Option Plan will increase each fiscal quarter, beginning with the fiscal quarter commencing April 1, 2007, by an amount equal to 15% of the total increase in the number of shares of common stock outstanding or such lesser amount as may be determined by our Board of Directors.


A summary of our 2006 Option Plan is set forth in our Current Report on Form 8-K filed with the SEC on December 29, 2006. The full text of the 2006 Option Plan is attached as Exhibit 10.1 to our Current Report on Form 8-K filed with the SEC on December 29, 2006, and is incorporated by reference herein.


13. Also on December 21, 2006, our Board of Directors approved the grant of options under the 2006 Option Plan for 2,500,000 shares of our common stock at an exercise price of $0.40 per share to Mr. Terberg and options to purchase an aggregate of 2,000,000 shares of our commons stock to Mr. van der Zee, also at a price of $0.40. The options granted to each of Mr. Terberg and Mr. van der Zee vest in equal quarterly instalments, commencing on April 1, 2007 and expiring 2 years after the applicable vesting date. See Part III, Item 10 “Executive Compensation – Director Compensation Arrangements.”


Changes to the Board of Directors and Executive Officers

In addition to the above corporate developments, there have been a number of changes to our Board of Directors and executive officers since the end of our 2005 fiscal year.

Effective December 13, 2005, Petrus Lodestijn replaced Achim Stamm as our Chief Executive Officer and President. Mr. Stamm continued to act as our Chief Financial Officer, Treasurer and Secretary and continued to act on our Board of Directors until March 22, 2006, when Mr. Lodestijn replaced Mr. Stamm in those capacities as well.

Effective on October 31, 2006, Robert Terberg replaced Mr. Lodestijn as our Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary and also as a member of our Board of Directors. Also effective on October 31, 2006, our Board of Directors was expanded by the appointment of Hubert Hamm as a director of the Company and by the appointment of Hugo van der Zee as the Chairman of the Company’s Board of Directors.

Biographical information for each of Mr. Terberg, Mr. Hamm and Mr. van der Zee is provided at Part II, Item 9 “Directors, Executive Officers, Promoters, Control Persons and Corporate Governance; Compliance with Section 16(A) of the Exchange Act.“

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BUSINESS SEGMENTS

Heating, Ventilation, Air Conditioning & Refrigeration (“HVAC&R”)

Our core competency in the areas of HVAC&R lies in our ability to optimize refrigeration technologies by maximizing cooling capacity and minimizing machinery size and energy consumption. Our HVAC&R department has more than 20 years of experience in R&D, construction, maintenance and the optimization of large-scale refrigeration plants for use in major industrial projects such as mining and tunnel construction.

As a result, our team of experts is able to provide HVAC&R solutions for almost industrial system and can advise and guide our clients on all of their needs, including the evaluation or improvement of existing facilities, the sourcing and supply of HVAC&R equipment and the construction and maintenance of HVAC&R facilities.

In addition to providing consulting services in this area, we have also developed our ThermoMobil product. The ThermoMobil is a multi-purpose, self-contained, mobile refrigeration and/or heating unit designed to be loaded and transported onto a variety of large or small transport vehicles. The product is designed to allow users to convert ordinary transportation vehicles into refrigerated and/or heated transports. The refrigeration/heating unit itself can be loaded or unloaded from the transport vehicle and is capable of utilizing either 12 volt (automobile) or 230 volt (household) electricity to power its refrigeration/heating systems. This allows users to load and unload cargo without interrupting the refrigeration or heating chain. In addition, the ThermoMobil does not require extensive modification to the transportation vehicle itself, allowing it to still be used as a non-refrigerated/heated transport while the refrigeration/heating unit is being used to provide temporary storage.

Water Production and Purification

The efficient and sustainable utilization of the world's water resources requires the extraction of water from sources which are replenished by nature in a short time and the multiple use of water extracted. In this sector, our focus is to produce, purify and recycle potable water through the use of membrane and vacuum technologies. Our water experts have 20 years of experience in successfully designing, constructing and maintaining various water purification, water recycling and waste water treatment plants not only for research and development facilities of different German universities but also for industrial production plants, hospitals and military institutions in different parts of the world. Our team has particular expertise in using membrane and vacuum technologies to design, construct and maintain water purification, water recycling and waste water treatment systems.

In addition to providing services in the areas of water purification and water treatment, we have developed a water production unit that we call the AquaMission. The AquaMission utilizes a patented process to extract water from ambient air. At a temperature of 23°C (73°F) and humidity of 75%, the atmosphere contains about 16g of water per kg of air (approximately 0.56 oz. for every 2.2 lbs. of air). By cooling the air down to 10°C (50°F), approximately 8g (approximately 0.28 oz.) of condensed water can be produced. Air is supplied to a refrigerated surface contained within the unit which then causes water in the air to condensate. The collected water is then passed through a treatment filter for purification. The result is potable water which meets the standards established by the World Health Organization’s Guidelines for Drinking-Water Quality. We have built and tested prototypes of various sizes for the AquaMission. The smallest prototype, approximately 40cm x 40cm x 60cm (1.3 ft. x 1.3 ft. x 2.0 ft.) in size, is, depending on humidity and temperature, capable of producing up to 24L (approximately 6.3 gal.) of drinking quality water per day. The largest prototype, approximately 240 cm x 600 cm x 240 cm (8 ft. x 20ft x 8 ft.) in size, is, depending on humidity and temperature, capable of producing up to 6,000L (approximately 1,585 gal.) of drinking quality water per day.

Energy

Waste heat in the low-temperature range represents a widely unused potential energy source. According to a current market study on unused waste heat commissioned by us, in Germany alone, there is approximately 85,000 megawatts (MW) of potentially exploitable waste heat energy in the 80°C to 260°C temperature range generated by industrial sources. Worldwide, the targeted use of low-temperature waste heat to generate

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electricity could make a significant contribution to the conservation of fossil fuel resources and the reduction of carbon dioxide emissions.

We have currently developed a product, known as the EnergyMission or “Yellow Box” that is capable of converting waste heat at temperatures as low as 100°C (212°F) into usable electricity. Originally developed as a means of optimizing the performance of cooling systems, we have adapted this technology for use with refrigeration and air conditioning units as well as for use with our AquaMission and ThermoMobil products, increasing the overall energy efficiency of those units. In addition, we are currently working to adapt this technology for use on biogas electrical generators. Construction of a prototype of the EnergyMission was completed shortly after our 2006 fiscal year end.

INTELLECTUAL PROPERTY RIGHTS

We own the rights to the following patented technologies:

Patent Number Name
German Patent No. 101 29 047.0 Fully sintered heat exchangers in all possible geometric forms for all application purposes

German Patent No. DE 102 23 578 A1 Device for recovering used water

International Patent No. WO 01/753181 A3 and WO 01/753181 A2 Transportable cool box system technology


In addition, we have licensed from Ecoenergy Patent GmbH (“Ecoenergy”) exclusive rights (the “License Rights”) to manufacture, use and distribute products based on the following patent pending technologies (the “Ecoenergy Technologies”):

Patent Number Name
International Patent Application No. 2005/061858 Method for converting heat energy into mechanical energy with a low-pressure expansion device.

International Patent Application No. 2005/066466 Method and system for converting heat energy into mechanical energy.

International Patent Application No. 2005/061973 Method and system for increasing the temperature of a vaporous working medium.

International Patent Application No. 2005/066465 Method and installation for converting heat energy from refrigerating machines.

International Patent Application No. 2005/078243 Method and installation for converting thermal energy from fluids into mechanical energy.

International Patent Application No. 2005/061857 Device and method for converting heat energy into mechanical energy.


Ecoenergy is owned by Hubert Hamm and Dr. Erwin Oser. Mr. Hamm has acted as the managing director of Aqua GmbH since its inception, is one of our key consultants and is also one of our principal stockholders. In addition, on October 31, 2006, Mr. Hamm was appointed to our Board of Directors. Dr. Oser has been a member of our Board of Directors since October 20, 2004 and is one of our key consultants in the area of energy optimization.

We were granted the License Rights in exchange for certain patent application costs related to the Ecoenergy Technologies that were paid for by us.

A summary of the material provisions of our license agreement with Ecoenergy is provided below. This summary does not, however, purport to be complete, and is qualified in its entirety by reference to the full text

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of our license agreement with Ecoenergy, a copy of which was attached as an exhibit to our Current Report on Form 8-K, filed with the SEC on October 6, 2006.

Scope of License Rights

The License Rights extend within the signatory countries to the European Patent Convention, the United States of America and India for a period of 15 years, unless terminated earlier in accordance with its provisions. The License Rights are exclusive and cover the manufacture, use and distribution of products based on the Ecoenergy Technologies within the following areas (collectively, the “Technical Applications”):

1. Energy recovery from the waste heat generated when drawing water from the atmosphere;

2. Energy recovery from the waste heat generated by refrigeration and air conditioning systems;

3. Energy recovery from the waste heat generated by block-type thermal power stations;

4. Energy recovery from the waste heat from industrial heat processes; and

5. Energy recovery from the waste heat of exhaust and sewage streams.


The prior written approval of Ecoenergy is required in order to sublicense any of the License Rights or to contract out the manufacture of products based on the Ecoenergy Technologies to third parties.

Annual Royalty and Patent Maintenance Fees

We are required to pay annual royalties to Ecoenergy as follows:

(a) 2% of annual sales revenues (without sales tax) earned by Aqua GmbH up to EUR 50,000,000 (approximately $63,428,000);


(b) 1.5% of the portion of annual sales revenues (without sales tax) in excess of EUR 50,000,000 (approximately $63,428,000) up to EUR 100,000,000 (approximately $125,856,000); and


(c) 1% of the portion of annual sales revenues (without sales tax) in excess of EUR 100,000,000 (approximately $125,856,000).


Any revenues earned from the sublicensing of the License Rights are to be included in annual sales revenues.

In addition to paying the annual royalty amounts to Ecoenergy, we are required to pay all costs and fees associated with maintaining the patent rights associated with the Ecoenergy Technologies. In particular, we are required to pay for any filing fees required to keep the patent and/or patent applications associated with the Ecoenergy Technologies in good standing with the relevant patent authorities within the License Territory and any associated attorneys’ fees.

Minimum Sales Requirements

In order to maintain our exclusive License Rights under the License Agreement, we are required generate minimum annual sales revenues for each Technical Application to which the License Rights apply. If we fail to meet the minimum annual sales requirements for any Technical Application for two consecutive years, the License Rights, as applied to that particular Technical Application, automatically become non-exclusive. If, after the License Rights become non-exclusive as a result of a failure to meet the minimum sales requirements, we again fail to meet the minimum annual sales requirements for two consecutive years, Ecoenergy may, at its option, terminate our non-exclusive License Rights for that particular Technical Application. In order to exercise its option to terminate, Ecoenergy must inform us of its intention to do so, in writing, within 4 weeks after receiving our statement of accounts relating to the total annual sales of products based on the Ecoenergy Technologies and, in no case, later than June 30th.

A failure to meet the minimum sales requirements for any particular Technical Application will not affect our License Rights for any other Technical Application.

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The minimum annual sales requirements for each Technical Application are as follows:

1. Energy recovery from the waste heat generated when drawing water from the atmosphere



Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 500,000 (approximately $635,000)
2008 EUR 750,000 (approximately $952,500)
2009 EUR 1,000,000 (approximately $1,270,000)
2010 to expiration EUR 2,000,000 (approximately $1,540,000)


2. Energy recovery from the waste heat generated by refrigeration and air conditioning systems



Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 500,000 (approximately $635,000)
2008 EUR 750,000 (approximately $952,500)
2009 EUR 900,000 (approximately $1,143,000)
2010 to expiration EUR 2,000,000 (approximately $1,540,000)


3. Energy recovery from the waste heat generated by block-type thermal power stations



Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 1,200,000 (approximately $1,524,000)
2008 EUR 1,500,000 (approximately $1,905,000)
2009 EUR 1,500,000 (approximately $1,905,000)
2010 to expiration EUR 3,000,000 (approximately $3,810,000)


4. Energy recovery from the waste heat from industrial heat processes



Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 400,000 (approximately $508,000)
2008 EUR 500,000 (approximately $635,000)
2009 EUR 800,000 (approximately $1,016,000)
2010 to expiration EUR 1,500,000 (approximately $1,905,000)


5. Energy recovery from the waste heat of exhaust and sewage streams



Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 400,000 (approximately $508,000)
2008 EUR 500,000 (approximately $635,000)
2009 EUR 800,000 (approximately $1,016,000)
2010 to expiration EUR 1,500,000 (approximately $1,905,000)

COMPETITIVE BUSINESS CONDITIONS

We are unaware of any products currently in existence that compete directly with our existing and proposed products. However, the markets for HVAC&R, water purification, waste water treatment, water supply and energy optimization services and technologies are, in general, extremely competitive.

Many of the existing services and technologies provided by others are more established and have gained wider acceptance in the marketplace. Many of these service and equipment providers will be more established and have greater technical, financial, marketing and sales resources than us. We believe that our ability to compete in this area will depend upon our ability to combine and optimize existing technologies

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and to develop novel, more efficient solutions to existing problems. However, there are no assurances that we will be able to effectively differentiate ourselves from our competitors.

RESEARCH AND DEVELOPMENT

During the past two fiscal years, we have spent approximately $2,829,267 on research and development activities. Although we have completed principal development of our technologies and products, we are still in the process of refining those technologies and products for commercial use. Subject to our ability to acquire additional financing, we hope to complete our research and development activities during our 2007 fiscal year.

GOVERNMENT AND ENVIRONMENTAL REGULATIONS

Although we are not aware of any specific government and environmental regulations applicable to our business operations, it is likely that our operations will be subject to extensive government regulations in the United States, Europe and elsewhere.

In order to sell our products, we may have to satisfy numerous mandatory procedures, regulations, and safety standards established by international, federal and state regulatory agencies. There can be no assurance that we can successfully comply with all present or future government regulations.

EMPLOYEES

We currently have eight full-time employees. In addition to these employees, we have retained the services of four consultants who are key to our business operations.

Hubert Hamm: Mr. Hamm is the inventor of the patented Aqua Technologies and is the lead consultant for research and development for Aqua GmbH’s HVAC&R Department. Mr. Hamm is a managing director of Aqua GmbH, and, since October 31, 2006, has acted as a member of our Board of Directors. Mr. Hamm is also one of our principal stockholders. See Part III, Item 11 “Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters”.

Mr. Hamm has over 20 years of experience in the research and development, construction, maintenance and optimization of large-scale refrigeration plants, primarily for applications in mining and tunnel construction. From 1986 to 2001, Mr. Hamm worked in various management positions at RAG (formerly Ruhrkohle AG), a multi-billion dollar international mining and energy company. Mr. Hamm was the head of RAG’s HVAC&R department from 1994 to 2001. Since 2001, Mr. Hamm has been the head of his own engineering consulting firm, specializing in the development of HVAC&R technologies.

Rolf Haake: Mr. Haake is the lead consultant for research and development for Aqua GmbH’s Water Purification Department.

Mr. Haake has over 30 years of experience in the areas of water purification and treatment. From 1972 until 1978, Mr. Haake was the director of the North Rhine/Westphalia sales office for Deutsche Ton- und Steinzeugwerke AG, involved in the planning and sales of water purification and waste water treatment plants and related environmental technologies. Since 1978, Mr. Haake has been involved in running a number of independent businesses responsible for the planning and construction of waste-water treatment facilities.

Dr. Erwin Oser: Dr. Oser is our lead consultant in charge of research and development for our Energy Technologies Department. Dr. Oser has been a member of our Board of Directors since October 20, 2004.

Since 1985, Dr. Oser has been the principal of Dr. Oser/Partner In Technik, a German based Management Consulting firm, that specializes in assisting their clients with the creation of efficient organization structures, product development and the introduction of new technologies. Dr. Oser received his Diploma in Physics and his Doctorate in Physical Chemistry from RWTH Aachen, in Germany. He also completed post graduate studies at RWTH Aachen where he obtained his certificate in Economics.

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ITEM 2. DESCRIPTION OF PROPERTY.

Our corporate headquarters is located at Konrad-Adenauer Strasse 9-13, 95699 Herten, Germany and consists of approximately 1,200 square meters. We rent this facility at a cost of approximately EUR 6,690 per month (approximately $8,500). We do not currently own or lease any additional land, buildings or office space.

ITEM 3. LEGAL PROCEEDINGS.

We are not a party to any material legal proceedings and, to our knowledge, no such proceedings are pending.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

None.

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PART II

ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS.

Market Information

Our shares are currently trading on the Over-The-Counter Bulletin Board (the “OTCBB”) under the symbol AQAS. The high and the low bid prices for our shares for the last two fiscal years of actual trading, as reported by the OTCBB were:

QUARTER
HIGH ($)
LOW ($)

1st Quarter 2005 $4.41 $1.30
2nd Quarter 2005 $2.95 $2.10
3rd Quarter 2005 $3.65 $1.50
4th Quarter 2005 $3.75 $1.72
1st Quarter 2006 $2.10 $1.18
2nd Quarter 2006 $1.50 $1.00
3rd Quarter 2006 $1.33 $0.47
4th Quarter 2006 $0.65 $0.25

The trades reflect inter-dealer prices, without retail mark-up, markdown or commission and may not represent actual transactions.

Holders Of Our Common Stock

As of September 30, 2006, we had 17 registered shareholders and 118,178,323 shares of our common stock issued and outstanding. In addition, we believe that there are a large number of stockholders who hold shares of our common stock on deposit with their brokers or investment bankers registered in the name of stock depositories.

Dividends

We have not declared any dividends on our stock since our inception. There are no dividend restrictions that limit our ability to pay dividends on our common stock in our Articles of Incorporation or Bylaws. Our governing statute, Chapter 78 – “Private Corporations” of the Nevada Revised Statutes (the “NRS”), does provide limitations on our ability to declare dividends. Section 78.288 of Chapter 78 of the NRS prohibits us from declaring dividends where, after giving effect to the distribution of the dividend:

(a) we would not be able to pay our debts as they become due in the usual course of business; or


(b) our total assets would be less than the sum of our total liabilities plus the amount that would be needed, if we were to be dissolved at the time of distribution, to satisfy the preferential rights upon dissolution of stockholders who may have preferential rights and whose preferential rights are superior to those receiving the distribution (except as otherwise specifically allowed by our Articles of Incorporation).


Recent Sales Of Unregistered Securities

All unregistered sales of our equity securities completed during our fiscal year ended September 30, 2006 have been previously reported in the Quarterly Reports on Form 10-QSB and Current Reports on Form 8-K that we filed during that period.

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ITEM 6. MANAGEMENT’S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

PLAN OF OPERATION

During the next twelve months, we will focus: (1) on the design and construction of products ordered from us; (2) on further developing the market for our products; and (3) on continuing to develop and improve our products. Specifically, our plan of operation for the next twelve months involves the following:

1. Design and Construction of Ordered Units: During the next twelve months, we will work on the design and construction of the waste heat power generation, AquaMission and ThermoMobil units for which we have received orders:


(a) With respect to the waste heat power generation unit ordered by Loick, we are currently waiting for Loick to provide us with specifications for the biogas generator to which the ordered unit is to be attached. Once we have received the necessary data from Loick, we expect that it will take us approximately three months to design and construct the ordered unit. As of the date of filing of this Annual Report, we had not yet received the necessary specifications. We expect to receive this data from Loick sometime before the Summer of 2007.


(b) We are currently working with MPE to optimize the waste heat power generation unit ordered by them. We expect to complete construction and delivery of the ordered unit in 2007. However, there are no assurances that we will be able to complete the construction of this unit within the time frame estimated. In addition, even if we are able to complete construction of the ordered unit, there are no assurances that, once installed, it will function as expected.


(c) We do not expect to begin designing or constructing the combined AquaMission and Yellow Box units ordered by North East Developers in Hyderabad, India until at least the Summer of 2007. North East Developers is still in the process of finalizing schematics and plans for the planned residential complex in Hyderabad, India, with construction tentatively scheduled to begin in January, 2007. However, we have no control over the construction of the planned residential complex and we can provide no assurances that construction on the residential complex will begin when scheduled or at all.


(d) In 2005, we received an order from Refrigeraciones Kal-Tec Espana S.L. (“Kal-Tec”) for one AquaMission unit. Delivery of this unit was originally scheduled for the Fall of 2005; however delivery has not yet been made. We are currently in discussions with Kal-Tec regarding the status of their order. However, because there have been significant and ongoing delays in the construction and delivery of the AquaMission unit ordered by Kal-Tec, there are no assurances that we will be able to complete construction of the ordered unit or that delivery of the unit will be accepted.


(e) We have an agreement with BS Technik GmbH (“BS Technik”) for the delivery of 15 ThermoMobil units of varying sizes. In August of 2005, we reported that BS Technik had agreed to allow us to delay delivery of the ThermoMobil units ordered by them. However, there have been significant and ongoing delays in the construction and delivery of the units ordered by BS Technik. As a result of these delays, there are no assurances that BS Technik will still accept delivery of the ordered ThermoMobil units. We are currently in discussions with BS Technik regarding the status of their order and are in negotiations with them to deliver newly developed and improved ThermoMobil units.


2. Market Development Activities: Over the next twelve months we intend to do the following in an effort continue developing a market for our products and services:


(a) We have completed the construction of a prototype EnergyMission / Yellow Box unit that we will use for marketing and demonstration purposes, as well as for ongoing research and development. The prototype unit will be used by us to demonstrate the effectiveness of our technology to trade media and industry representatives on an ongoing basis.


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(b) We are also in the process of setting up a wholly owned subsidiary in the Netherlands, through which we will seek to promote all of our products in the “Benelux” countries (Belgium, the Netherlands and Luxemberg). The office for this subsidiary will be located in Zevenaar, near Arnhem in the east of the Netherlands.


(c) We will continue to attempt to market the AquaMission combined air-conditioning and drinking water product in geographic locations with high ambient temperatures and relative humidity but without readily available sources of fresh water, such as the Persian Gulf and the Middle East. Three demonstration models of the AquaMission are currently on location in the Middle East. We are currently in the process of seeking new sales agents for our products in the Middle East.


We will continue to try and generate sales in the Middle East using these demonstration models. However we have no specific time frame for this and there are no assurances that we will be able to generate any sales in the Middle East or India.


In addition to these activities, we may also seek to increase brand awareness through various advertising activities and sponsorships.


3. Product Development Activities: During the next twelve months, we will also continue to work on further developing and improving our existing products in an effort to increase their marketability. As part of these efforts, we have developed and built a demonstration model of our Yellow Box technology.


We are also in the process of constructing a high-tech “climate room” that will allow us to simulate the world’s various humidity and temperature zones. This “climate room” will assist us in optimizing our AquaMission unit for different geographic locations.


We anticipate spending approximately $2,000,000 in pursuing our plan of operation over the next twelve months. As of September 30, 2006, the date of our most recently available financial statements, we had a working capital deficit of $2,059,410. As such, we do not have sufficient working capital to meet our expected needs over the next twelve months. Although we have recently begun to earn revenues, we have not yet earned a net profit and we do not expect to achieve profitability in the near future as we expect to continue to incur substantial product development, marketing and operating expenses. We are likely to continue to need substantial additional financing in order to implement our plan of operation. Our management expects that any additional financing that we obtain will likely be in the form of equity financing.

Our actual expenditures and business plan may differ from the one stated above. Our Board of Directors may decide not to pursue this plan. In addition, we may modify the plan based on available financing.

RESULTS OF OPERATIONS

Summary of Year End Results

Year Ended September 30
Percentage
2006 2005 Increase / (Decrease)
Revenue $2,203,763 $896,535 145.81%
Cost of Goods Sold (1,703,505) (791,302) 115.28%
General and Administrative Expenses (4,842,873) (25,892,791) (81.30)%
Interest Income 14,366 -- 100.00%
Net Loss $(4,328,249) $(25,787,558) (83.22)%

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Revenues

We have only recently begun to earn revenues from our operations and, as a result, we are unable to accurately forecast future revenues. Readers are cautioned that our past operating results may not be indicative of future performance.

The revenues that we earned during the year ended September 30, 2006 were earned from services that we provided and equipment sales in connection with HVAC&R and energy optimizing activities in respect of refrigerating plants used in mining and tunnelling activities.

Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products, and there are no assurances that we will be able earn such revenues in the future.

Expenses

The major components of our operating expenses are outlined in the table below:

Year Ended September 30
Percentage
2006 2005 Increase / (Decrease)
Accounting and audit fees $293,158 $154,626 89.59%
Advertising and promotion 547,324 193,299 183.15%
Amortization 49,926 15,473 222.67%
Bad debts 150,596 33,398 350.91%
Bank charges and interest 3,148 619 408.56%
Consulting fees 293,115 250,518 17.00%
Development costs 1,458,016 1,371,251 6.33%
Filing fees 3,541 7,554 (53.12)%
Foreign exchange (gain) loss (226,479) -- (100.00)%
Interest 152,210 29,271 420.00%
Legal fees 155,365 103,398 50.26%
Management fees 716,231 527,976 35.66%
Office and miscellaneous 214,049 197,567 8.34%
Rent 132,606 117,222 13.12%
Salaries and benefits 520,183 197,006 164.04%
Stock-based compensation -- 22,480,000 (100.00)%
Transfer agent 1,736 6,400 (72.88)%
Travel 167,645 107,511 55.93%
Write Down of Patents (9,298) -- (100.00)%
Write Down of Inventory (49,899) -- (100.00)%
Write Down of Investment and Loan (151,306) (99,702) 51.76%
Total General and Administrative Expenses $4,842,873 $25,892,791 (81.30)%

During the year ended September 30, 2005, we recorded as stock-based compensation, expenses of $22,480,000 on account of options granted during our 2005 fiscal year pursuant to our 2004 Stock Incentive Plan. We did not grant any options or other stock-based compensation during our 2006 fiscal year and, as such, recorded no stock-based compensation expenses during that period. Less stock based compensation,

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our general and administrative expenses for the year ended September 30, 2005 totaled $3,412,791, being $1,430,082 less than our total general and administrative expenses for the year ended September 30, 2006.

The majority of our individual expense items increased significantly when compared to the same period in 2005. These increases are largely a result of our increased operations. We expect that our operating activities will continue to increase over the course of the current fiscal year as we expect to aggressively pursue the marketing of our products and technologies. In addition, we expect that we will continue our ongoing research and development activities.

The largest component of our expenses for the year ended September 30, 2006 were development costs incurred in connection with our ongoing research and development activities. Included in development costs for the year ended September 30, 2006 was $486,434 charged to us by Dr. Erwin Oser, one of our directors. These amounts were incurred by the director while conducting research and development work on our products and technologies, and were reimbursed by us.

Our advertising and promotion expenses have also increased significantly over the amounts spent during the year ended September 30, 2005. We expect our advertising and promotion expenses to continue to increase in the foreseeable future as we intend to concentrate more on marketing our business, products and technologies.

We incurred management fees of $716,231 during the year ended September 30, 2006. Of this amount, $147,529 were paid to Stamm & Lang Rechtsanwalte, a German law firm of which Achim Stamm, our former Chief Financial Officer, Secretary, Treasurer and a former director, is a partner, pursuant to a management consulting contract. An additional $173,140 was paid to Stamm & Lang in lieu of notice upon termination of our agreement with them in February, 2006. Also included in management fees are amounts charged under a management consulting contract with Hubert Hamm, a managing director of Aqua GmbH, and the lead consultant for research and development for Aqua GmbH’s HVAC&R department.

We recognized bad debt expenses in the amount of $150,596 during the year ended September 30, 2006, relating to amounts owing for services and products supplied by us. We also wrote down loans receivable of $66,094 from UFI-TEC GmbH, a company in which we currently own a 19.9% interest.

LIQUIDITY AND FINANCIAL CONDITION

Working Capital

Percentage
At September 30, 2006 At September 30, 2005 Increase / (Decrease)
Current Assets $854,960 $1,840,049 (53.54)%
Current Liabilities (2,914,370) (386,975) 653.12%
Working Capital (Deficit) $(2,059,410) $1,453,074 (241.73)%

Included in current liabilities are a total of $1,441,507 payable to a law firm of which, Achim Stamm, one of our former officers and directors, is a partner. We are currently in negotiations with Mr. Stamm for the settlement of the amounts owed to him and his law firm.

Cash Flows

Year Ended Year Ended
September 30, 2006 September 30, 2005
Cash Flows used in Operating Activities $(3,391,147) $(4,113,488)
Cash Flows used in Investing Activities (121,678) (443,408)
Cash Flows from Financing Activities 3,203,743 5,127,314
Effects of Exchange Rates (162,435) 81,818
Net Increase (Decrease) in Cash During Period $(471,517) $652,236

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Financing during the year ended September 30, 2006 was obtained from the sale of shares of our common stock and short-term loans. During the year ended September 30, 2006, we obtained $2,303,328 in financing from the sale of shares of our common stock in private placement transactions and net loans payable of $900,415.

Of the $2,377,099 in loans payable as of our fiscal year end of September 30, 2006, $1,441,507 is due to Stamm & Lang. Of the amounts due to Stamm & Lang, $697,832 bears interest at a rate of 7.5% per annum, is secured by accounts receivable and was due on December 31, 2006. The remaining $743,675 payable to Stamm & Lang is non-interest bearing, is secured by accounts receivable and was also due on December 31, 2006. The remaining loans payable as of September 30, 2006 were obtained from private persons and consisted of the following amounts:

(a) $185,989, bearing interest at a rate of 7.5% per annum, secured by accounts receivable and payable by December 31, 2006;


(b) $115,326, bearing interest at a rate of 7.5% per annum, unsecured and payable on or before December 31, 2006; and


(c) $634,276, without interest, unsecured and payable on demand.


As at September 30, 2006 we had cash in the amount of $187,432 and a working capital deficit of $2,059,410. We anticipate spending approximately $2,000,000 over the next 12 months in pursuing our plan of operation. We will require substantial additional financing in the next few months in order to pursue our current plan of operation.

Although we have recently begun to earn revenues, we have not yet achieved profitability. We anticipate that we will continue to incur losses for the foreseeable future, as we expect to incur substantial product development, marketing and operating expenses in implementing our plan of operation. Our future financial results are uncertain due to a number of factors, many of which are outside of our control. These factors include, but are not limited to:

(a) our ability to commercially market our ThermoMobil and AquaMission products;


(b) our ability to develop a commercially marketable EnergyMission/Yellow Box product;


(c) our ability to raise additional capital necessary to implement our business strategy and plan of operation;


(d) our ability to compete with other existing technologies; and


(e) the success of any marketing and promotional campaign which we conduct for our products once development is complete.


Due to the uncertainty regarding our future revenues and profitability, we expect that the majority of additional financing that we obtain, if any, will likely be in the form of equity financing. Our management does not expect sufficient debt financing to be available to us at this stage of our business.

The financial statements accompanying this Annual Report contemplate our continuation as a going concern. However, we have not yet achieved profitable operations and we expect to continue to incur substantial losses in the foreseeable future as we continue to develop our business. As a result, our auditors stated in their report for our fiscal year ended September 30, 2006 that a substantial doubt exists as to our ability to continue as a going concern.

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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 are material to our stockholders.

CRITICAL ACCOUNTING POLICIES

We have identified certain accounting policies, described below, that are most important to the portrayal of our current financial condition and results of operations. Our significant accounting policies are disclosed in the notes to the audited financial statements included in this Annual Report.

Principles of Consolidation

The consolidated financial statements include the accounts of Aqua Society, Inc and our wholly owned subsidiary, Aqua GmbH, a German limited liability company. All inter-company transactions have been eliminated.

Foreign Currency Translation

Our functional currency is United States dollars. Our subsidiary, Aqua GmbH, uses the Euro as its functional currency. Accordingly, assets and liabilities of Aqua GmbH are translated into US dollars at the exchange rate in effect at the balance sheet date and capital accounts are translated at historical rates. Income statement accounts are translated at the average rates of exchange prevailing during the period. Translation adjustments arising from the use of differing exchange rates from period to period are included in the Accumulated Other Comprehensive Gain/(Loss) account in Stockholders’ Equity.

Transactions undertaken in currencies other than the functional currency of the entity are translated using the exchange rate in effect as of the transaction date. Any exchange gains and losses would be included in the Statement of Operations.

Patents, Patent Rights and Amortization

Patents and patent rights are recorded at cost. We provide for the amortization of patents and patent rights on the straight-line basis over their estimated economic lives, estimated to be 5 years. Amortization is recorded upon the patents being awarded.

RISKS AND UNCERTAINTIES

Need For Financing

We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability and we anticipate that we will continue to incur substantial losses in the foreseeable future. We are likely to continue to need substantial additional financing in order to implement our long term business plan. We currently do not have any financing arrangements in place and there is no assurance that we will be able to acquire sufficient financing on terms acceptable to us or at all. If financing is not available or obtainable, our ability to meet our financial obligations and pursue our plan of operation will be substantially limited and investors may lose a substantial portion or all of their investment

Limited Operating History, Risks Of A New Business Venture

We are still in the process of developing our business and we do not expect to achieve profitability in the near future. We have only recently begun to earn revenues. Readers are cautioned that our past results may not be indicative of future performance.

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Potential investors should be aware of the difficulties normally encountered by a new enterprise and the high rate of failure of such enterprises. The potential for future success must be considered in light of the problems, expenses, difficulties complications and delays encountered in connection with the development of a business in the area in which we intend to operate and in connection with the formation and commencement of operations of a new business in general. These include, but are not limited to, unanticipated problems relating to research and development programs, marketing, approvals by government agencies, competition and additional costs and expenses that may exceed current estimates. There is no history upon which to base any assumption as to the likelihood that we will prove successful, and there can be no assurance that we will ever achieve profitable operations.

If We Are Unable To Achieve Market Acceptance For Our Products, We Will Be Unable To Build Our Business

To date, we have completed technical development of our EnergyMission/Yellow Box, ThermoMobil and AquaMission products. However, we have only received a limited number of confirmed orders for these products. Our future success will depend upon the acceptance of our existing products, and other products that we develop, by the respective industries in which we intend to market those products. Achieving such acceptance will require significant investments in research and development and market development. Our technologies and products may not achieve widespread acceptance, which could limit our ability to develop and expand our business. The technologies upon which our products and services are based are relatively new and are evolving. Accordingly, in order to

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 26.988.357 von krofisch am 17.01.07 18:42:35

krofischchen traut sich tatsächlich diesen Beweis für Versagen an allen Fronten hier rein zu stellen,

aber immerhin,

mit 187000 Cash sind sie immer noch besser dran als ich.,
allerdings mache ich auch keinen Verlust, ich habe nämlich keine Aqua Aktien

[westfale64]

"Of the $2,377,099 in loans payable as of our fiscal year end of September 30, 2006, $1,441,507 is due to Stamm & Lang"

1,4 Mio. schiebt Aqua an den eigenen Vorstand Stamm.
Wofür ?


Sind die Aqua-Aktionäre so dumm, dass sie dieses Spiel nicht durchschauen ?

[krofisch]

Antwort auf Beitrag Nr.: 27.008.078 von westfale64 am 18.01.07 12:56:49

Wofür ?

Wer lesen kann (und will) ist eben echt im Vorteil:

Du hättest eben den ganzen Absatz aus #4692 lesen und kopieren müssen:

... Of the amounts due to Stamm & Lang, $697,832 bears interest at a rate of 7.5% per annum, is secured by accounts receivable and was due on December 31, 2006. The remaining $743,675 payable to Stamm & Lang is non-interest bearing, is secured by accounts receivable and was also due on December 31, 2006. The remaining loans payable as of September 30, 2006 were obtained from private persons and consisted of the following amounts:

(a) $185,989, bearing interest at a rate of 7.5% per annum, secured by accounts receivable and payable by December 31, 2006;


(b) $115,326, bearing interest at a rate of 7.5% per annum, unsecured and payable on or before December 31, 2006; and


(c) $634,276, without interest, unsecured and payable on demand.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.008.078 von westfale64 am 18.01.07 12:56:49

Wofür?
Na für die hervorragende Arbeit, schließlich wird irgendwann vielleicht wenn überhaupt und vielleicht auch nicht und sowieso und was weiß ich.............

Im März bestellt und bis heute nicht fertig, das nenne ich mal ein engagiertes Unternehmen, und sowieso sind immer die anderen Schuld wenn was bei einem selbst nicht funktioniert.

Loick has informed us that they expect to complete the installation of this motor sometime in 2007. We have no control over Loick’s installation of this motor and, as a result, we can provide no assurances when construction of the unit ordered by Loick will begin. Once construction has begun, we expect that it will take us approximately 3 months to complete.

In addition, even if we are able to complete construction of the ordered unit, there are no assurances that, once installed, it will function as expected.

DAs ist doch zum schießen.
Wir bauen mal ein Flugzeug, verkaufen es, aber ob es dann auch fliegt wissen wir noch nicht.
Manoman, was für ein Dilettantenladen.

Hier muß ich bleiben, da ist es immer lustig.

[wohinistmeinGeld]

krofischchen,- mal ne Frage-, habt ihr eigentlich überhaupt schon was an Loick geliefert das sie einbauen könnten?

Schließlich habt ihr die YellowBox erst vor 2 Wochen vorgestellt.

[westfale64]

Antwort auf Beitrag Nr.: 27.015.229 von krofisch am 18.01.07 17:22:38

30 Mio. Gesamtverlust und 2 Mio. Fehlkapital. Und wohin das Aktionärsgeld neben den „Berater“-Zahlungen geflossen ist schreibt Aqua auch –nämlich mittels „management fees“an die eigenen(!)Vorstände Hamm und Stamm:


ZITATE AUS CAQUAS LETZTEN QUARTALSBERICHTEN:
„We incurred management fees of $640,939 during the nine months ended June 30, 2006. The majority of these fees were for amounts charged under a management consulting contract with Stamm & Lang Rechtsanwalte, a German law firm of which Achim Stamm, our former Chief Financial Officer, Secretary, Treasurer and a former director, is a partner. Also included in management fees are amounts charged under a management consulting contract with Hubert Hamm, a managing director of Aqua GmbH, and the lead consultant for research and development for Aqua GmbH’s HVAC&R department.“



“Included in current liabilities are a total of $1,393,907 payable to Achim Stamm, one of our former officers and directors, and Stamm & Lang Rechtsanwalte, a law firm of which Mr. Stamm, is a partner.”

Wofür zahlt Aqua seinen eigenen Vorständen die Millionen ?
Reicht es diesen Typen nicht, die Anleger mit dem Verkauf ihrer wertlosen Altaktien abzuzocken ?

[krofisch]

Antwort auf Beitrag Nr.: 27.028.941 von westfale64 am 19.01.07 11:54:43

http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

10KSB 1 form10ksb.htm
--------------------------------------------------------------------------------

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-KSB

(Mark One)

[X] Annual Report Under Section 13 Or 15(d) Of The Securities Exchange Act Of 1934

For the fiscal year ended September 30, 2006

[ ] Transition Report Under Section 13 Or 15(d) Of The Securities Exchange Act Of 1934

For the transition period from _____ to _____

COMMISSION FILE NUMBER: 000-50163

AQUA SOCIETY, INC.
(Name of small business issuer in its charter)

NEVADA 52-2357931
(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)

Konrad - Adenauer Strasse 9-13
45699 Herten, Germany
(Address of principal executive offices)

011-49-6031-791-760
Issuer’s telephone number

Securities registered under Section 12(b) of the Exchange Act: NONE.

Securities registered under Section 12(g) of the Exchange Act: Common Stock, $0.001 Par Value Per
Share.

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 [X] No [ ]

Check if there is no disclosure of delinquent filers in response to Item 405 of Regulation S-B contained in this
form, and no disclosure will be contained, to the best of registrant’s knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-KSB or any amendment to this
Form 10-KSB. [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange
Act). Yes [ ] No [X]

State issuer’s revenues for its most recent fiscal year. $2,203,763

State the aggregate market value of the voting and non-voting common equity held by non-affiliates
computed by reference to the price at which the common equity was sold, or the average bid and asked price
of such common equity, as of a specified date within the past 60 days. (See definition of affiliate in Rule 12b-2
of the Exchange Act.): $13,922,480 based on a price of $0.37 being the average of the closing bid and
ask price of the Company’s common stock as of September 29, 2006.

State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest
practicable date. 118,178,323 Shares of Common Stock as of January 8, 2007.

Transitional Small Business Disclosure Format (check one): Yes [ ] No [X]


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.

ANNUAL REPORT ON FORM 10-KSB
FOR THE YEAR ENDED SEPTEMBER 30, 2006

INDEX

PAGE

PART I 3

ITEM 1. Description of Business. 3
ITEM 2. Description of Property. 12
ITEM 3. Legal Proceedings. 12
ITEM 4. Submission of Matters to a Vote of Security Holders. 12

PART II 13

ITEM 5. Market for Common Equity and Related Stockholder Matters. 13
ITEM 6. Management’s Discussion and Analysis or Plan of Operation. 14
ITEM 7. Financial Statements. 19
ITEM 8. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. 24
ITEM 8A. Controls and Procedures. 24
ITEM 8B. Other Information. 24

PART III 26

ITEM 9. Directors, Executive Officers, Promoters, Control Persons and Corporate Governance; Compliance with Section 16(A) of the Exchange Act. 26
ITEM 10. Executive Compensation. 28
ITEM 11. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 30
ITEM 12. Certain Relationships and Related Transactions, and Director Independence. 34
ITEM 13. Exhibits. 35
ITEM 14. Principal and Accountant Fees and Services. 37

SIGNATURES 38

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PART I

Certain statements contained in this Annual Report on Form 10-KSB constitute “forward-looking statements.” These statements, identified by words such as “plan,” “anticipate,” “believe,” “estimate,” “should,” “expect,” and similar expressions include our expectations and objectives regarding our future financial position, operating results and business strategy. These statements reflect the current views of management with respect to future events and are subject to risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from those described in the forward-looking statements. Such risks and uncertainties include those set forth under the caption “Management’s Discussion and Analysis or Plan of Operation” and elsewhere in this Annual Report. We advise you to carefully review the reports and documents we file from time to time with the Securities and Exchange Commission (the “SEC”), particularly our Quarterly Reports on Form 10-QSB and our Current Reports on Form 8-K.

As used in this Annual Report, the terms “we,” “us,” “our,” “Aqua Society,” and the “Company” mean Aqua Society, Inc. and its subsidiaries, unless otherwise indicated. All dollar amounts in this Annual Report are expressed in U.S. dollars, unless otherwise indicated.

ITEM 1. DESCRIPTION OF BUSINESS.

CORPORATE BACKGROUND

We were incorporated under the laws of the State of Nevada on March 2, 2000, under the name “V G Tech, Inc.”

On September 22, 2004, we completed the acquisition of Aqua Society GmbH (“Aqua GmbH”). Prior to our acquisition of Aqua GmbH, we were in the business of providing services in the areas of digital graphics and special effects. Upon completing the acquisition of Aqua GmbH, we abandoned this digital imaging business. We are now in the business of designing and developing applied technologies, and providing consulting services, in the areas of heating, ventilation, air conditioning, refrigeration, water purification, waste water treatment, and, our latest business segment, energy (collectively, the “Aqua Business”).

Effective December 27, 2004, we changed our name to “Aqua Society, Inc.” to better reflect the nature of our current business operations

Acquisition of Aqua GmbH

On September 22, 2004, we completed the acquisition of a 100% interest in Aqua GmbH from its sole stockholder, Water-Capital-Holding Ltd. (“Water”).

We acquired our 100% ownership interest in Aqua GmbH from Water in exchange for:

(a) the issuance of 10,000,000 shares of our common stock;


(b) the issuance of special warrants (the “Special Warrants”) to acquire 34,000,000 shares of our common stock; and


(c) the transfer to Water of 36,000,000 shares of our common stock owned by Steve Livingston, our former President, Secretary, Treasurer and Director, being all of the shares of our common stock owned by Mr. Livingston.


The Special Warrants entitled the holder to acquire one additional share of our common stock for each special warrant held, without the payment of any additional consideration. Under the terms of the Special Warrants, they could not be exercised until we had authorized capital of at least 200,000,000 shares of common stock (the “Triggering Event”). On December 6, 2004, we amended our Articles of Incorporation to increase our authorized capital to 300,000,000 shares of common stock. Upon effective filing of our Certificate of Amendment increasing our authorized capital to 300,000,000 shares of common stock, Water exercised the Special Warrants and we issued to them an additional 34,000,000 shares of our common

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stock. Pursuant to the terms of the Special Warrants, these shares were issued to Water without the payment of any additional consideration.

Under generally accepted accounting principles, our acquisition of Aqua GmbH has been accounted for as a reverse acquisition. As such, Aqua GmbH has been treated as the acquiring entity for accounting and financial reporting purposes. See Item 6, “Critical Accounting Policies.” As such, the financial statements attached to this Annual Report are presented as a continuation of the operations of Aqua GmbH, which was incorporated on May 13, 2004, and not our predecessor V G Tech, Inc.

Aqua Society GmbH

Aqua GmbH was founded as limited liability corporation (a Gesellschaft mit beschraenkter Haftung) under the federal laws of Germany on May 13, 2004. Prior to its acquisition by us, Aqua GmbH was primarily engaged in organizational activities and had earned no revenues to that point.

Aqua GmbH was formed for the purpose of developing commercial applications for its three core technologies (collectively, the “Aqua Technologies”). These Aqua Technologies have been used to develop the AquaMission, ThermoMobil and waste heat power generator products described below (collectively, the “Aqua Products”).

RECENT CORPORATE DEVELOPMENTS

The following significant corporate developments have occurred since the end of our September 30, 2005 fiscal year:

1. In February, 2006, we entered into an agreement with Sportfive GmbH & Co. KG, a sports management company representing heavyweight boxer, Wladamir Klitschko, to act as a sponsor of the heavyweight title fight between Mr. Klitschko and Chris Byrd. The fight took place on April 22, 2006 at the SAP Arena in Mannheim, Germany. Pursuant to our agreement with Sportfive, our logo appeared at various places around the ring and on various merchandise related to the fight, including the floor and the four corners of the ring, the press kit, and a full page inclusion in the official magazine for the fight. In consideration for these rights, we agreed to pay Sportfive EUR 175,000 (approximately $211,000) and related production costs of approximately EUR 64,000 (approximately $77,000), with VAT of 16% payable on both.


2. In February, 2006, we completed a private placement with two corporate investors of 1,160,960 units at a price of $1.04 per unit for total proceeds of $1,207,398 (approximately EUR 1,000,000). Each unit was comprised of one share of the Company’s common stock and one share purchase warrant. Each share purchase warrant entitles the holder to purchase one additional share of the Company’s common stock at a price of $1.30 per share for a period of two years from the date of closing. This private placement was completed pursuant to the provisions of Regulation S promulgated under the Securities Act of 1933. We did not engage in a distribution of this offering in the United States. Each of the investors has represented that they were not US persons as defined in Regulation S, and have provided representations indicating that they were acquiring our securities for investment purposes only and not with a view towards distribution. No underwriting discounts or commissions were involved.


3. In March, 2006, we received an order from Loick AG for a waste heat power generation system based on our Yellow Box product. Loick is a company based in Dorsten, Germany, that specializes in the development and production of renewable resource products such as bioplastics and biogas energy systems. The ordered unit is to be used to generate electricity from the waste heat generated by one of Loick’s existing biogas power generators. The biogas systems produced by Loick are used to supply electricity to the public grid in Germany.


The unit ordered by Loick is to be customized to the particular biogas generator to which it will be installed. Loick is currently installing a new motor onto the biogas generator. As such, the design and construction of the ordered waste heat power generation system is being delayed until Loick has


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completed the installation of the new motor. As of the date we filed this Annual Report, Loick had still not finished installing the motor. Loick has informed us that they expect to complete the installation of this motor sometime in 2007. We have no control over Loick’s installation of this motor and, as a result, we can provide no assurances when construction of the unit ordered by Loick will begin. Once construction has begun, we expect that it will take us approximately 3 months to complete.


4. In April, 2006, we announced that we had formed a joint venture with Loick AG and ODAS OHG, a company based in Dorsten, Germany, that specializes in the supply of plant based biomass raw materials. The joint venture entity, known as TMR GmbH, was originally formed to develop, build, distribute and manage renewable energy facilities. Subsequent to our September 30, 2006 fiscal year end, it was determined that we would not proceed with the TMR joint venture and, in December, 2006, we sold our interest in TMR to Loick for EUR 1.00.


5. In April, 2006, we announced that we had received an order from More Power Energie GmbH (“MPE”). MPE ordered a combined heat and power plant that is to be used to convert the waste heat from a biogas power plant into electricity. MPE intends to connect the ordered unit to a biogas power plant owned by a third party operator.


Specifications for the ordered unit were delivered by MPE during our 2006 fiscal year and construction is currently in progress. Construction was originally expected to take us approximately 3 months to complete, however we are still working with MPE to optimize the ordered unit and the plant in accordance with their specifications. We expect to complete construction and delivery of the ordered unit in 2007. However, there are no assurances that we will be able to complete the construction of this unit within the time frame estimated. In addition, even if we are able to complete construction of the ordered unit, there are no assurances that, once installed, it will function as expected.


6. In April, 2006, we announced that we had received an order to install AquaMission combined air-conditioning and drinking water supply systems to a residential complex to be constructed in Hyderabad, India by North East Developers and Real Estates (“North East Developers”). The AquaMissions to be supplied are also to be fitted with our EnergyMission / Yellow Box products. Schematics of the residential complex have not been finalized and construction of the complex has not yet begun. North East Developers has tentatively scheduled construction to begin in January, 2007. Based on this timetable, we do not expect to be able to begin designing and constructing the ordered units until at least the Summer of 2007. However, we have no control over the construction of the residential complex and we cannot begin building the units to be supplied to North East Developers until construction has begun and they have delivered the necessary schematics to us. There can be no assurances with respect to when we will receive the necessary schematics or that the actual units to be delivered will be those set out in the order. In addition, payment will be dependent upon the successful installation of the units ordered. There are no assurances that we will be able to successfully install the ordered units, or that, once installed, those units will function as expected.


7. We completed a private placement with a corporate investor for 1,245,375 units at a price of $0.88 per unit for total proceeds of $1,095,930 (approximately EUR 900,000). Each unit was comprised of one share of our common stock and one share purchase warrant. Each share purchase warrant entitles the holder to purchase one additional share of our common stock at a price of $1.10 per share for a period of two years from the date of closing. We had previously announced in February, 2006 that this private placement had been negotiated for 1,044,863 units at a subscription price of $1.04 per unit, with a share purchase warrant exercise price of $1.30 per share. The terms of this private placement were revised in order to reflect changes to the market price of our common stock and changes in foreign exchange rates. The subscribed for units were issued effective June 8, 2006 pursuant to the provisions of Regulation S on the basis that the offering does not involve a distribution in the United States and that the investor is not a U.S. person as defined in Regulation S. No underwriting discounts or commissions were involved.


8. In December, 2005, we had installed a ThermoMobil unit onto a Ford Transit to be used for marketing purposes. We had been working with a Ford dealership in Dusseldorf, Germany to market the ThermoMobil/Ford Transit in an effort to generate commercial sales of the ThermoMobil.


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However, we were unable to reach an agreement with the Ford dealership on a consumer price for the unit. As such, we are no longer pursuing our co-operative efforts with the Ford dealership. We now intend to use the ThermoMobil/Ford Transit unit as part of our marketing efforts in the Benelux countries (Belgium, the Netherlands and Luxembourg).


9. In June, 2006, we sold a 13.1% interest in UFI-TEC GmbH for proceeds of EUR 10,072 (approximately $12,237). As a result we now own only 19.9% of UFI-TEC.


10. On September 30, 2006 we entered into an exclusive patent license agreement with Ecoenergy Patent GmbH. Under the terms of the license agreement, we obtained exclusive rights to manufacture, use and distribute products based on certain patent pending technologies. See “Intellectual Property Rights,” below.


11. After the completion of our 2006 fiscal year, we completed the construction of a demonstration prototype of our EnergyMission / Yellow Box technology. A media event to showcase this demonstration model was held at our facilities on December 21, 2006. This demonstration unit will be used by us for marketing and demonstration purposes as well as for research and development.


12. On December 21, 2006, our Board of Directors approved and adopted our 2006 Stock Option Plan (the “2006 Option Plan”). Under the 2006 Option Plan, options may be granted for a maximum of 7,000,000 shares of our common stock. The maximum number of shares that may be optioned under the 2006 Option Plan will increase each fiscal quarter, beginning with the fiscal quarter commencing April 1, 2007, by an amount equal to 15% of the total increase in the number of shares of common stock outstanding or such lesser amount as may be determined by our Board of Directors.


A summary of our 2006 Option Plan is set forth in our Current Report on Form 8-K filed with the SEC on December 29, 2006. The full text of the 2006 Option Plan is attached as Exhibit 10.1 to our Current Report on Form 8-K filed with the SEC on December 29, 2006, and is incorporated by reference herein.


13. Also on December 21, 2006, our Board of Directors approved the grant of options under the 2006 Option Plan for 2,500,000 shares of our common stock at an exercise price of $0.40 per share to Mr. Terberg and options to purchase an aggregate of 2,000,000 shares of our commons stock to Mr. van der Zee, also at a price of $0.40. The options granted to each of Mr. Terberg and Mr. van der Zee vest in equal quarterly instalments, commencing on April 1, 2007 and expiring 2 years after the applicable vesting date. See Part III, Item 10 “Executive Compensation – Director Compensation Arrangements.”


Changes to the Board of Directors and Executive Officers

In addition to the above corporate developments, there have been a number of changes to our Board of Directors and executive officers since the end of our 2005 fiscal year.

Effective December 13, 2005, Petrus Lodestijn replaced Achim Stamm as our Chief Executive Officer and President. Mr. Stamm continued to act as our Chief Financial Officer, Treasurer and Secretary and continued to act on our Board of Directors until March 22, 2006, when Mr. Lodestijn replaced Mr. Stamm in those capacities as well.

Effective on October 31, 2006, Robert Terberg replaced Mr. Lodestijn as our Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary and also as a member of our Board of Directors. Also effective on October 31, 2006, our Board of Directors was expanded by the appointment of Hubert Hamm as a director of the Company and by the appointment of Hugo van der Zee as the Chairman of the Company’s Board of Directors.

Biographical information for each of Mr. Terberg, Mr. Hamm and Mr. van der Zee is provided at Part II, Item 9 “Directors, Executive Officers, Promoters, Control Persons and Corporate Governance; Compliance with Section 16(A) of the Exchange Act.“

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BUSINESS SEGMENTS

Heating, Ventilation, Air Conditioning & Refrigeration (“HVAC&R”)

Our core competency in the areas of HVAC&R lies in our ability to optimize refrigeration technologies by maximizing cooling capacity and minimizing machinery size and energy consumption. Our HVAC&R department has more than 20 years of experience in R&D, construction, maintenance and the optimization of large-scale refrigeration plants for use in major industrial projects such as mining and tunnel construction.

As a result, our team of experts is able to provide HVAC&R solutions for almost industrial system and can advise and guide our clients on all of their needs, including the evaluation or improvement of existing facilities, the sourcing and supply of HVAC&R equipment and the construction and maintenance of HVAC&R facilities.

In addition to providing consulting services in this area, we have also developed our ThermoMobil product. The ThermoMobil is a multi-purpose, self-contained, mobile refrigeration and/or heating unit designed to be loaded and transported onto a variety of large or small transport vehicles. The product is designed to allow users to convert ordinary transportation vehicles into refrigerated and/or heated transports. The refrigeration/heating unit itself can be loaded or unloaded from the transport vehicle and is capable of utilizing either 12 volt (automobile) or 230 volt (household) electricity to power its refrigeration/heating systems. This allows users to load and unload cargo without interrupting the refrigeration or heating chain. In addition, the ThermoMobil does not require extensive modification to the transportation vehicle itself, allowing it to still be used as a non-refrigerated/heated transport while the refrigeration/heating unit is being used to provide temporary storage.

Water Production and Purification

The efficient and sustainable utilization of the world's water resources requires the extraction of water from sources which are replenished by nature in a short time and the multiple use of water extracted. In this sector, our focus is to produce, purify and recycle potable water through the use of membrane and vacuum technologies. Our water experts have 20 years of experience in successfully designing, constructing and maintaining various water purification, water recycling and waste water treatment plants not only for research and development facilities of different German universities but also for industrial production plants, hospitals and military institutions in different parts of the world. Our team has particular expertise in using membrane and vacuum technologies to design, construct and maintain water purification, water recycling and waste water treatment systems.

In addition to providing services in the areas of water purification and water treatment, we have developed a water production unit that we call the AquaMission. The AquaMission utilizes a patented process to extract water from ambient air. At a temperature of 23°C (73°F) and humidity of 75%, the atmosphere contains about 16g of water per kg of air (approximately 0.56 oz. for every 2.2 lbs. of air). By cooling the air down to 10°C (50°F), approximately 8g (approximately 0.28 oz.) of condensed water can be produced. Air is supplied to a refrigerated surface contained within the unit which then causes water in the air to condensate. The collected water is then passed through a treatment filter for purification. The result is potable water which meets the standards established by the World Health Organization’s Guidelines for Drinking-Water Quality. We have built and tested prototypes of various sizes for the AquaMission. The smallest prototype, approximately 40cm x 40cm x 60cm (1.3 ft. x 1.3 ft. x 2.0 ft.) in size, is, depending on humidity and temperature, capable of producing up to 24L (approximately 6.3 gal.) of drinking quality water per day. The largest prototype, approximately 240 cm x 600 cm x 240 cm (8 ft. x 20ft x 8 ft.) in size, is, depending on humidity and temperature, capable of producing up to 6,000L (approximately 1,585 gal.) of drinking quality water per day.

Energy

Waste heat in the low-temperature range represents a widely unused potential energy source. According to a current market study on unused waste heat commissioned by us, in Germany alone, there is approximately 85,000 megawatts (MW) of potentially exploitable waste heat energy in the 80°C to 260°C temperature range generated by industrial sources. Worldwide, the targeted use of low-temperature waste heat to generate

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electricity could make a significant contribution to the conservation of fossil fuel resources and the reduction of carbon dioxide emissions.

We have currently developed a product, known as the EnergyMission or “Yellow Box” that is capable of converting waste heat at temperatures as low as 100°C (212°F) into usable electricity. Originally developed as a means of optimizing the performance of cooling systems, we have adapted this technology for use with refrigeration and air conditioning units as well as for use with our AquaMission and ThermoMobil products, increasing the overall energy efficiency of those units. In addition, we are currently working to adapt this technology for use on biogas electrical generators. Construction of a prototype of the EnergyMission was completed shortly after our 2006 fiscal year end.

INTELLECTUAL PROPERTY RIGHTS

We own the rights to the following patented technologies:

Patent Number Name
German Patent No. 101 29 047.0 Fully sintered heat exchangers in all possible geometric forms for all application purposes

German Patent No. DE 102 23 578 A1 Device for recovering used water

International Patent No. WO 01/753181 A3 and WO 01/753181 A2 Transportable cool box system technology


In addition, we have licensed from Ecoenergy Patent GmbH (“Ecoenergy”) exclusive rights (the “License Rights”) to manufacture, use and distribute products based on the following patent pending technologies (the “Ecoenergy Technologies”):

Patent Number Name
International Patent Application No. 2005/061858 Method for converting heat energy into mechanical energy with a low-pressure expansion device.

International Patent Application No. 2005/066466 Method and system for converting heat energy into mechanical energy.

International Patent Application No. 2005/061973 Method and system for increasing the temperature of a vaporous working medium.

International Patent Application No. 2005/066465 Method and installation for converting heat energy from refrigerating machines.

International Patent Application No. 2005/078243 Method and installation for converting thermal energy from fluids into mechanical energy.

International Patent Application No. 2005/061857 Device and method for converting heat energy into mechanical energy.


Ecoenergy is owned by Hubert Hamm and Dr. Erwin Oser. Mr. Hamm has acted as the managing director of Aqua GmbH since its inception, is one of our key consultants and is also one of our principal stockholders. In addition, on October 31, 2006, Mr. Hamm was appointed to our Board of Directors. Dr. Oser has been a member of our Board of Directors since October 20, 2004 and is one of our key consultants in the area of energy optimization.

We were granted the License Rights in exchange for certain patent application costs related to the Ecoenergy Technologies that were paid for by us.

A summary of the material provisions of our license agreement with Ecoenergy is provided below. This summary does not, however, purport to be complete, and is qualified in its entirety by reference to the full text

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of our license agreement with Ecoenergy, a copy of which was attached as an exhibit to our Current Report on Form 8-K, filed with the SEC on October 6, 2006.

Scope of License Rights

The License Rights extend within the signatory countries to the European Patent Convention, the United States of America and India for a period of 15 years, unless terminated earlier in accordance with its provisions. The License Rights are exclusive and cover the manufacture, use and distribution of products based on the Ecoenergy Technologies within the following areas (collectively, the “Technical Applications”):

1. Energy recovery from the waste heat generated when drawing water from the atmosphere;

2. Energy recovery from the waste heat generated by refrigeration and air conditioning systems;

3. Energy recovery from the waste heat generated by block-type thermal power stations;

4. Energy recovery from the waste heat from industrial heat processes; and

5. Energy recovery from the waste heat of exhaust and sewage streams.


The prior written approval of Ecoenergy is required in order to sublicense any of the License Rights or to contract out the manufacture of products based on the Ecoenergy Technologies to third parties.

Annual Royalty and Patent Maintenance Fees

We are required to pay annual royalties to Ecoenergy as follows:

(a) 2% of annual sales revenues (without sales tax) earned by Aqua GmbH up to EUR 50,000,000 (approximately $63,428,000);


(b) 1.5% of the portion of annual sales revenues (without sales tax) in excess of EUR 50,000,000 (approximately $63,428,000) up to EUR 100,000,000 (approximately $125,856,000); and


(c) 1% of the portion of annual sales revenues (without sales tax) in excess of EUR 100,000,000 (approximately $125,856,000).


Any revenues earned from the sublicensing of the License Rights are to be included in annual sales revenues.

In addition to paying the annual royalty amounts to Ecoenergy, we are required to pay all costs and fees associated with maintaining the patent rights associated with the Ecoenergy Technologies. In particular, we are required to pay for any filing fees required to keep the patent and/or patent applications associated with the Ecoenergy Technologies in good standing with the relevant patent authorities within the License Territory and any associated attorneys’ fees.

Minimum Sales Requirements

In order to maintain our exclusive License Rights under the License Agreement, we are required generate minimum annual sales revenues for each Technical Application to which the License Rights apply. If we fail to meet the minimum annual sales requirements for any Technical Application for two consecutive years, the License Rights, as applied to that particular Technical Application, automatically become non-exclusive. If, after the License Rights become non-exclusive as a result of a failure to meet the minimum sales requirements, we again fail to meet the minimum annual sales requirements for two consecutive years, Ecoenergy may, at its option, terminate our non-exclusive License Rights for that particular Technical Application. In order to exercise its option to terminate, Ecoenergy must inform us of its intention to do so, in writing, within 4 weeks after receiving our statement of accounts relating to the total annual sales of products based on the Ecoenergy Technologies and, in no case, later than June 30th.

A failure to meet the minimum sales requirements for any particular Technical Application will not affect our License Rights for any other Technical Application.

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The minimum annual sales requirements for each Technical Application are as follows:

1. Energy recovery from the waste heat generated when drawing water from the atmosphere



Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 500,000 (approximately $635,000)
2008 EUR 750,000 (approximately $952,500)
2009 EUR 1,000,000 (approximately $1,270,000)
2010 to expiration EUR 2,000,000 (approximately $1,540,000)


2. Energy recovery from the waste heat generated by refrigeration and air conditioning systems



Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 500,000 (approximately $635,000)
2008 EUR 750,000 (approximately $952,500)
2009 EUR 900,000 (approximately $1,143,000)
2010 to expiration EUR 2,000,000 (approximately $1,540,000)


3. Energy recovery from the waste heat generated by block-type thermal power stations



Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 1,200,000 (approximately $1,524,000)
2008 EUR 1,500,000 (approximately $1,905,000)
2009 EUR 1,500,000 (approximately $1,905,000)
2010 to expiration EUR 3,000,000 (approximately $3,810,000)


4. Energy recovery from the waste heat from industrial heat processes



Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 400,000 (approximately $508,000)
2008 EUR 500,000 (approximately $635,000)
2009 EUR 800,000 (approximately $1,016,000)
2010 to expiration EUR 1,500,000 (approximately $1,905,000)


5. Energy recovery from the waste heat of exhaust and sewage streams



Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 400,000 (approximately $508,000)
2008 EUR 500,000 (approximately $635,000)
2009 EUR 800,000 (approximately $1,016,000)
2010 to expiration EUR 1,500,000 (approximately $1,905,000)

COMPETITIVE BUSINESS CONDITIONS

We are unaware of any products currently in existence that compete directly with our existing and proposed products. However, the markets for HVAC&R, water purification, waste water treatment, water supply and energy optimization services and technologies are, in general, extremely competitive.

Many of the existing services and technologies provided by others are more established and have gained wider acceptance in the marketplace. Many of these service and equipment providers will be more established and have greater technical, financial, marketing and sales resources than us. We believe that our ability to compete in this area will depend upon our ability to combine and optimize existing technologies

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and to develop novel, more efficient solutions to existing problems. However, there are no assurances that we will be able to effectively differentiate ourselves from our competitors.

RESEARCH AND DEVELOPMENT

During the past two fiscal years, we have spent approximately $2,829,267 on research and development activities. Although we have completed principal development of our technologies and products, we are still in the process of refining those technologies and products for commercial use. Subject to our ability to acquire additional financing, we hope to complete our research and development activities during our 2007 fiscal year.

GOVERNMENT AND ENVIRONMENTAL REGULATIONS

Although we are not aware of any specific government and environmental regulations applicable to our business operations, it is likely that our operations will be subject to extensive government regulations in the United States, Europe and elsewhere.

In order to sell our products, we may have to satisfy numerous mandatory procedures, regulations, and safety standards established by international, federal and state regulatory agencies. There can be no assurance that we can successfully comply with all present or future government regulations.

EMPLOYEES

We currently have eight full-time employees. In addition to these employees, we have retained the services of four consultants who are key to our business operations.

Hubert Hamm: Mr. Hamm is the inventor of the patented Aqua Technologies and is the lead consultant for research and development for Aqua GmbH’s HVAC&R Department. Mr. Hamm is a managing director of Aqua GmbH, and, since October 31, 2006, has acted as a member of our Board of Directors. Mr. Hamm is also one of our principal stockholders. See Part III, Item 11 “Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters”.

Mr. Hamm has over 20 years of experience in the research and development, construction, maintenance and optimization of large-scale refrigeration plants, primarily for applications in mining and tunnel construction. From 1986 to 2001, Mr. Hamm worked in various management positions at RAG (formerly Ruhrkohle AG), a multi-billion dollar international mining and energy company. Mr. Hamm was the head of RAG’s HVAC&R department from 1994 to 2001. Since 2001, Mr. Hamm has been the head of his own engineering consulting firm, specializing in the development of HVAC&R technologies.

Rolf Haake: Mr. Haake is the lead consultant for research and development for Aqua GmbH’s Water Purification Department.

Mr. Haake has over 30 years of experience in the areas of water purification and treatment. From 1972 until 1978, Mr. Haake was the director of the North Rhine/Westphalia sales office for Deutsche Ton- und Steinzeugwerke AG, involved in the planning and sales of water purification and waste water treatment plants and related environmental technologies. Since 1978, Mr. Haake has been involved in running a number of independent businesses responsible for the planning and construction of waste-water treatment facilities.

Dr. Erwin Oser: Dr. Oser is our lead consultant in charge of research and development for our Energy Technologies Department. Dr. Oser has been a member of our Board of Directors since October 20, 2004.

Since 1985, Dr. Oser has been the principal of Dr. Oser/Partner In Technik, a German based Management Consulting firm, that specializes in assisting their clients with the creation of efficient organization structures, product development and the introduction of new technologies. Dr. Oser received his Diploma in Physics and his Doctorate in Physical Chemistry from RWTH Aachen, in Germany. He also completed post graduate studies at RWTH Aachen where he obtained his certificate in Economics.

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ITEM 2. DESCRIPTION OF PROPERTY.

Our corporate headquarters is located at Konrad-Adenauer Strasse 9-13, 95699 Herten, Germany and consists of approximately 1,200 square meters. We rent this facility at a cost of approximately EUR 6,690 per month (approximately $8,500). We do not currently own or lease any additional land, buildings or office space.

ITEM 3. LEGAL PROCEEDINGS.

We are not a party to any material legal proceedings and, to our knowledge, no such proceedings are pending.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

None.

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PART II

ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS.

Market Information

Our shares are currently trading on the Over-The-Counter Bulletin Board (the “OTCBB”) under the symbol AQAS. The high and the low bid prices for our shares for the last two fiscal years of actual trading, as reported by the OTCBB were:

QUARTER
HIGH ($)
LOW ($)

1st Quarter 2005 $4.41 $1.30
2nd Quarter 2005 $2.95 $2.10
3rd Quarter 2005 $3.65 $1.50
4th Quarter 2005 $3.75 $1.72
1st Quarter 2006 $2.10 $1.18
2nd Quarter 2006 $1.50 $1.00
3rd Quarter 2006 $1.33 $0.47
4th Quarter 2006 $0.65 $0.25

The trades reflect inter-dealer prices, without retail mark-up, markdown or commission and may not represent actual transactions.

Holders Of Our Common Stock

As of September 30, 2006, we had 17 registered shareholders and 118,178,323 shares of our common stock issued and outstanding. In addition, we believe that there are a large number of stockholders who hold shares of our common stock on deposit with their brokers or investment bankers registered in the name of stock depositories.

Dividends

We have not declared any dividends on our stock since our inception. There are no dividend restrictions that limit our ability to pay dividends on our common stock in our Articles of Incorporation or Bylaws. Our governing statute, Chapter 78 – “Private Corporations” of the Nevada Revised Statutes (the “NRS”), does provide limitations on our ability to declare dividends. Section 78.288 of Chapter 78 of the NRS prohibits us from declaring dividends where, after giving effect to the distribution of the dividend:

(a) we would not be able to pay our debts as they become due in the usual course of business; or


(b) our total assets would be less than the sum of our total liabilities plus the amount that would be needed, if we were to be dissolved at the time of distribution, to satisfy the preferential rights upon dissolution of stockholders who may have preferential rights and whose preferential rights are superior to those receiving the distribution (except as otherwise specifically allowed by our Articles of Incorporation).


Recent Sales Of Unregistered Securities

All unregistered sales of our equity securities completed during our fiscal year ended September 30, 2006 have been previously reported in the Quarterly Reports on Form 10-QSB and Current Reports on Form 8-K that we filed during that period.

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ITEM 6. MANAGEMENT’S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

PLAN OF OPERATION

During the next twelve months, we will focus: (1) on the design and construction of products ordered from us; (2) on further developing the market for our products; and (3) on continuing to develop and improve our products. Specifically, our plan of operation for the next twelve months involves the following:

1. Design and Construction of Ordered Units: During the next twelve months, we will work on the design and construction of the waste heat power generation, AquaMission and ThermoMobil units for which we have received orders:


(a) With respect to the waste heat power generation unit ordered by Loick, we are currently waiting for Loick to provide us with specifications for the biogas generator to which the ordered unit is to be attached. Once we have received the necessary data from Loick, we expect that it will take us approximately three months to design and construct the ordered unit. As of the date of filing of this Annual Report, we had not yet received the necessary specifications. We expect to receive this data from Loick sometime before the Summer of 2007.


(b) We are currently working with MPE to optimize the waste heat power generation unit ordered by them. We expect to complete construction and delivery of the ordered unit in 2007. However, there are no assurances that we will be able to complete the construction of this unit within the time frame estimated. In addition, even if we are able to complete construction of the ordered unit, there are no assurances that, once installed, it will function as expected.


(c) We do not expect to begin designing or constructing the combined AquaMission and Yellow Box units ordered by North East Developers in Hyderabad, India until at least the Summer of 2007. North East Developers is still in the process of finalizing schematics and plans for the planned residential complex in Hyderabad, India, with construction tentatively scheduled to begin in January, 2007. However, we have no control over the construction of the planned residential complex and we can provide no assurances that construction on the residential complex will begin when scheduled or at all.


(d) In 2005, we received an order from Refrigeraciones Kal-Tec Espana S.L. (“Kal-Tec”) for one AquaMission unit. Delivery of this unit was originally scheduled for the Fall of 2005; however delivery has not yet been made. We are currently in discussions with Kal-Tec regarding the status of their order. However, because there have been significant and ongoing delays in the construction and delivery of the AquaMission unit ordered by Kal-Tec, there are no assurances that we will be able to complete construction of the ordered unit or that delivery of the unit will be accepted.


(e) We have an agreement with BS Technik GmbH (“BS Technik”) for the delivery of 15 ThermoMobil units of varying sizes. In August of 2005, we reported that BS Technik had agreed to allow us to delay delivery of the ThermoMobil units ordered by them. However, there have been significant and ongoing delays in the construction and delivery of the units ordered by BS Technik. As a result of these delays, there are no assurances that BS Technik will still accept delivery of the ordered ThermoMobil units. We are currently in discussions with BS Technik regarding the status of their order and are in negotiations with them to deliver newly developed and improved ThermoMobil units.


2. Market Development Activities: Over the next twelve months we intend to do the following in an effort continue developing a market for our products and services:


(a) We have completed the construction of a prototype EnergyMission / Yellow Box unit that we will use for marketing and demonstration purposes, as well as for ongoing research and development. The prototype unit will be used by us to demonstrate the effectiveness of our technology to trade media and industry representatives on an ongoing basis.


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(b) We are also in the process of setting up a wholly owned subsidiary in the Netherlands, through which we will seek to promote all of our products in the “Benelux” countries (Belgium, the Netherlands and Luxemberg). The office for this subsidiary will be located in Zevenaar, near Arnhem in the east of the Netherlands.


(c) We will continue to attempt to market the AquaMission combined air-conditioning and drinking water product in geographic locations with high ambient temperatures and relative humidity but without readily available sources of fresh water, such as the Persian Gulf and the Middle East. Three demonstration models of the AquaMission are currently on location in the Middle East. We are currently in the process of seeking new sales agents for our products in the Middle East.


We will continue to try and generate sales in the Middle East using these demonstration models. However we have no specific time frame for this and there are no assurances that we will be able to generate any sales in the Middle East or India.


In addition to these activities, we may also seek to increase brand awareness through various advertising activities and sponsorships.


3. Product Development Activities: During the next twelve months, we will also continue to work on further developing and improving our existing products in an effort to increase their marketability. As part of these efforts, we have developed and built a demonstration model of our Yellow Box technology.


We are also in the process of constructing a high-tech “climate room” that will allow us to simulate the world’s various humidity and temperature zones. This “climate room” will assist us in optimizing our AquaMission unit for different geographic locations.


We anticipate spending approximately $2,000,000 in pursuing our plan of operation over the next twelve months. As of September 30, 2006, the date of our most recently available financial statements, we had a working capital deficit of $2,059,410. As such, we do not have sufficient working capital to meet our expected needs over the next twelve months. Although we have recently begun to earn revenues, we have not yet earned a net profit and we do not expect to achieve profitability in the near future as we expect to continue to incur substantial product development, marketing and operating expenses. We are likely to continue to need substantial additional financing in order to implement our plan of operation. Our management expects that any additional financing that we obtain will likely be in the form of equity financing.

Our actual expenditures and business plan may differ from the one stated above. Our Board of Directors may decide not to pursue this plan. In addition, we may modify the plan based on available financing.

RESULTS OF OPERATIONS

Summary of Year End Results

Year Ended September 30
Percentage
2006 2005 Increase / (Decrease)
Revenue $2,203,763 $896,535 145.81%
Cost of Goods Sold (1,703,505) (791,302) 115.28%
General and Administrative Expenses (4,842,873) (25,892,791) (81.30)%
Interest Income 14,366 -- 100.00%
Net Loss $(4,328,249) $(25,787,558) (83.22)%

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Revenues

We have only recently begun to earn revenues from our operations and, as a result, we are unable to accurately forecast future revenues. Readers are cautioned that our past operating results may not be indicative of future performance.

The revenues that we earned during the year ended September 30, 2006 were earned from services that we provided and equipment sales in connection with HVAC&R and energy optimizing activities in respect of refrigerating plants used in mining and tunnelling activities.

Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products, and there are no assurances that we will be able earn such revenues in the future.

Expenses

The major components of our operating expenses are outlined in the table below:

Year Ended September 30
Percentage
2006 2005 Increase / (Decrease)
Accounting and audit fees $293,158 $154,626 89.59%
Advertising and promotion 547,324 193,299 183.15%
Amortization 49,926 15,473 222.67%
Bad debts 150,596 33,398 350.91%
Bank charges and interest 3,148 619 408.56%
Consulting fees 293,115 250,518 17.00%
Development costs 1,458,016 1,371,251 6.33%
Filing fees 3,541 7,554 (53.12)%
Foreign exchange (gain) loss (226,479) -- (100.00)%
Interest 152,210 29,271 420.00%
Legal fees 155,365 103,398 50.26%
Management fees 716,231 527,976 35.66%
Office and miscellaneous 214,049 197,567 8.34%
Rent 132,606 117,222 13.12%
Salaries and benefits 520,183 197,006 164.04%
Stock-based compensation -- 22,480,000 (100.00)%
Transfer agent 1,736 6,400 (72.88)%
Travel 167,645 107,511 55.93%
Write Down of Patents (9,298) -- (100.00)%
Write Down of Inventory (49,899) -- (100.00)%
Write Down of Investment and Loan (151,306) (99,702) 51.76%
Total General and Administrative Expenses $4,842,873 $25,892,791 (81.30)%

During the year ended September 30, 2005, we recorded as stock-based compensation, expenses of $22,480,000 on account of options granted during our 2005 fiscal year pursuant to our 2004 Stock Incentive Plan. We did not grant any options or other stock-based compensation during our 2006 fiscal year and, as such, recorded no stock-based compensation expenses during that period. Less stock based compensation,

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our general and administrative expenses for the year ended September 30, 2005 totaled $3,412,791, being $1,430,082 less than our total general and administrative expenses for the year ended September 30, 2006.

The majority of our individual expense items increased significantly when compared to the same period in 2005. These increases are largely a result of our increased operations. We expect that our operating activities will continue to increase over the course of the current fiscal year as we expect to aggressively pursue the marketing of our products and technologies. In addition, we expect that we will continue our ongoing research and development activities.

The largest component of our expenses for the year ended September 30, 2006 were development costs incurred in connection with our ongoing research and development activities. Included in development costs for the year ended September 30, 2006 was $486,434 charged to us by Dr. Erwin Oser, one of our directors. These amounts were incurred by the director while conducting research and development work on our products and technologies, and were reimbursed by us.

Our advertising and promotion expenses have also increased significantly over the amounts spent during the year ended September 30, 2005. We expect our advertising and promotion expenses to continue to increase in the foreseeable future as we intend to concentrate more on marketing our business, products and technologies.

We incurred management fees of $716,231 during the year ended September 30, 2006. Of this amount, $147,529 were paid to Stamm & Lang Rechtsanwalte, a German law firm of which Achim Stamm, our former Chief Financial Officer, Secretary, Treasurer and a former director, is a partner, pursuant to a management consulting contract. An additional $173,140 was paid to Stamm & Lang in lieu of notice upon termination of our agreement with them in February, 2006. Also included in management fees are amounts charged under a management consulting contract with Hubert Hamm, a managing director of Aqua GmbH, and the lead consultant for research and development for Aqua GmbH’s HVAC&R department.

We recognized bad debt expenses in the amount of $150,596 during the year ended September 30, 2006, relating to amounts owing for services and products supplied by us. We also wrote down loans receivable of $66,094 from UFI-TEC GmbH, a company in which we currently own a 19.9% interest.

LIQUIDITY AND FINANCIAL CONDITION

Working Capital

Percentage
At September 30, 2006 At September 30, 2005 Increase / (Decrease)
Current Assets $854,960 $1,840,049 (53.54)%
Current Liabilities (2,914,370) (386,975) 653.12%
Working Capital (Deficit) $(2,059,410) $1,453,074 (241.73)%

Included in current liabilities are a total of $1,441,507 payable to a law firm of which, Achim Stamm, one of our former officers and directors, is a partner. We are currently in negotiations with Mr. Stamm for the settlement of the amounts owed to him and his law firm.

Cash Flows

Year Ended Year Ended
September 30, 2006 September 30, 2005
Cash Flows used in Operating Activities $(3,391,147) $(4,113,488)
Cash Flows used in Investing Activities (121,678) (443,408)
Cash Flows from Financing Activities 3,203,743 5,127,314
Effects of Exchange Rates (162,435) 81,818
Net Increase (Decrease) in Cash During Period $(471,517) $652,236

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Financing during the year ended September 30, 2006 was obtained from the sale of shares of our common stock and short-term loans. During the year ended September 30, 2006, we obtained $2,303,328 in financing from the sale of shares of our common stock in private placement transactions and net loans payable of $900,415.

Of the $2,377,099 in loans payable as of our fiscal year end of September 30, 2006, $1,441,507 is due to Stamm & Lang. Of the amounts due to Stamm & Lang, $697,832 bears interest at a rate of 7.5% per annum, is secured by accounts receivable and was due on December 31, 2006. The remaining $743,675 payable to Stamm & Lang is non-interest bearing, is secured by accounts receivable and was also due on December 31, 2006. The remaining loans payable as of September 30, 2006 were obtained from private persons and consisted of the following amounts:

(a) $185,989, bearing interest at a rate of 7.5% per annum, secured by accounts receivable and payable by December 31, 2006;


(b) $115,326, bearing interest at a rate of 7.5% per annum, unsecured and payable on or before December 31, 2006; and


(c) $634,276, without interest, unsecured and payable on demand.


As at September 30, 2006 we had cash in the amount of $187,432 and a working capital deficit of $2,059,410. We anticipate spending approximately $2,000,000 over the next 12 months in pursuing our plan of operation. We will require substantial additional financing in the next few months in order to pursue our current plan of operation.

Although we have recently begun to earn revenues, we have not yet achieved profitability. We anticipate that we will continue to incur losses for the foreseeable future, as we expect to incur substantial product development, marketing and operating expenses in implementing our plan of operation. Our future financial results are uncertain due to a number of factors, many of which are outside of our control. These factors include, but are not limited to:

(a) our ability to commercially market our ThermoMobil and AquaMission products;


(b) our ability to develop a commercially marketable EnergyMission/Yellow Box product;


(c) our ability to raise additional capital necessary to implement our business strategy and plan of operation;


(d) our ability to compete with other existing technologies; and


(e) the success of any marketing and promotional campaign which we conduct for our products once development is complete.


Due to the uncertainty regarding our future revenues and profitability, we expect that the majority of additional financing that we obtain, if any, will likely be in the form of equity financing. Our management does not expect sufficient debt financing to be available to us at this stage of our business.

The financial statements accompanying this Annual Report contemplate our continuation as a going concern. However, we have not yet achieved profitable operations and we expect to continue to incur substantial losses in the foreseeable future as we continue to develop our business. As a result, our auditors stated in their report for our fiscal year ended September 30, 2006 that a substantial doubt exists as to our ability to continue as a going concern.

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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 are material to our stockholders.

CRITICAL ACCOUNTING POLICIES

We have identified certain accounting policies, described below, that are most important to the portrayal of our current financial condition and results of operations. Our significant accounting policies are disclosed in the notes to the audited financial statements included in this Annual Report.

Principles of Consolidation

The consolidated financial statements include the accounts of Aqua Society, Inc and our wholly owned subsidiary, Aqua GmbH, a German limited liability company. All inter-company transactions have been eliminated.

Foreign Currency Translation

Our functional currency is United States dollars. Our subsidiary, Aqua GmbH, uses the Euro as its functional currency. Accordingly, assets and liabilities of Aqua GmbH are translated into US dollars at the exchange rate in effect at the balance sheet date and capital accounts are translated at historical rates. Income statement accounts are translated at the average rates of exchange prevailing during the period. Translation adjustments arising from the use of differing exchange rates from period to period are included in the Accumulated Other Comprehensive Gain/(Loss) account in Stockholders’ Equity.

Transactions undertaken in currencies other than the functional currency of the entity are translated using the exchange rate in effect as of the transaction date. Any exchange gains and losses would be included in the Statement of Operations.

Patents, Patent Rights and Amortization

Patents and patent rights are recorded at cost. We provide for the amortization of patents and patent rights on the straight-line basis over their estimated economic lives, estimated to be 5 years. Amortization is recorded upon the patents being awarded.

RISKS AND UNCERTAINTIES

Need For Financing

We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability and we anticipate that we will continue to incur substantial losses in the foreseeable future. We are likely to continue to need substantial additional financing in order to implement our long term business plan. We currently do not have any financing arrangements in place and there is no assurance that we will be able to acquire sufficient financing on terms acceptable to us or at all. If financing is not available or obtainable, our ability to meet our financial obligations and pursue our plan of operation will be substantially limited and investors may lose a substantial portion or all of their investment

Limited Operating History, Risks Of A New Business Venture

We are still in the process of developing our business and we do not expect to achieve profitability in the near future. We have only recently begun to earn revenues. Readers are cautioned that our past results may not be indicative of future performance.

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Potential investors should be aware of the difficulties normally encountered by a new enterprise and the high rate of failure of such enterprises. The potential for future success must be considered in light of the problems, expenses, difficulties complications and delays encountered in connection with the development of a business in the area in which we intend to operate and in connection with the formation and commencement of operations of a new business in general. These include, but are not limited to, unanticipated problems relating to research and development programs, marketing, approvals by government agencies, competition and additional costs and expenses that may exceed current estimates. There is no history upon which to base any assumption as to the likelihood that we will prove successful, and there can be no assurance that we will ever achieve profitable operations.

If We Are Unable To Achieve Market Acceptance For Our Products, We Will Be Unable To Build Our Business

To date, we have completed technical development of our EnergyMission/Yellow Box, ThermoMobil and AquaMission products. However, we have only received a limited number of confirmed orders for these products. Our future success will depend upon the acceptance of our existing products, and other products that we develop, by the respective industries in which we intend to market those products. Achieving such acceptance will require significant investments in research and development and market development. Our technologies and products may not achieve widespread acceptance, which could limit our ability to develop and expand our business. The technologies upon which our products and services are based are relatively new and are evolving. Accordingly, in order to

[krofisch]

Antwort auf Beitrag Nr.: 27.015.846 von wohinistmeinGeld am 18.01.07 17:45:13

Da ich nicht bei AQUA arbeite, mußt du schon AQUA selbst fragen, aber das traust du dich ja bestimmt wieder nicht!

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.038.938 von krofisch am 19.01.07 19:58:29

Ihr habt es ja nicht nötig zu antworten, ich habe es oft genug probiert. Da sind wohl alle zu sehr mit Geld ausgeben beschäftigt.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.038.903 von krofisch am 19.01.07 19:55:58

Once construction has begun, we expect that it will take us approximately 3 months to complete.

Krofischchen,- gib mal eine Einschätzung ab.
Also angenommen mit dem Einbau wird niemals begonnen, wann enden dann die 3 Monate

[Borealis]

Antwort auf Beitrag Nr.: 27.039.591 von wohinistmeinGeld am 19.01.07 20:44:34

"it will take us approximately 3 months to complete"

Ins Deutsche übersetzt: "Noch drei Monate, dann hat Aqua fertig"

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.040.240 von Borealis am 19.01.07 21:24:41

oh, stimmt ja, hab ich falsch übersetzt.

[krofisch]

Antwort auf Beitrag Nr.: 27.041.025 von wohinistmeinGeld am 19.01.07 22:15:24

Ohne Worte:

von wohinistmeinGeld (10.07.04 23:54:21)
betrifft Aktie: BAVARIAN NORDIC AS
wo mein Geld ist weiß ich übrigens trotzdem nicht, ich weiß nur das es weg ist

von wohinistmeinGeld (06.07.04 22:55:21)
betrifft Aktie: BAVARIAN NORDIC AS
... Ich bin schon oft genug darauf reingefallen, ich glaube es wird Zeit zu kündigen. Was treiben die eigentlich den ganzen Tag für Ihr Geld?

[Borealis]

Antwort auf Beitrag Nr.: 27.048.739 von krofisch am 20.01.07 14:23:06

Und wo soll da der Unterschied zu Aqua sein???
Da ist das Geld der Lemminge genauso futsch.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.048.739 von krofisch am 20.01.07 14:23:06

jetzt wissen wir warum Kindskopf krofisch in den letzte Tagen so ruhig war.
Er sucht in allen Threads dieses Jahrhunderts nach Beiträgen die er mit seinem kindlichen Gemüt meint ausgraben zu müssen und vielleicht daran was lustig findet, oder was weiß ich was in diesem Ding auf seinem Hals vorgeht.
Ich kann jedenfalls keine Verbindung zu Aqua erkennen.

Und dieser Aufwand nur um von seinem Dilettantenladen abzulenken und Fragen auszuweichen wie z.B. in #4697

Hey krofischchen, wisst ihr inzwischen ob eure Anlage die ihr an Loick geliefert habt funktioniert, oder ob ihr überhaupt eine geliefert habt?
there are no assurances that, once installed, it will function as expected

Wie gesagt, hier muß ich bleiben, hier ist es immer lustig.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.056.262 von Borealis am 20.01.07 16:37:56

der Schwachkopf weiß doch gar nicht um was es in den Beiträgen ging. ich hatte mich damals mit jemand über die Verluste des Chrash 2000 unterhalten und bei der Kündigung ging es um den Pusherbrief GBI und Hot Stocks, die ja auch zu nichts anderem gut sind als einem das Geld aus der Tasche zu ziehen, Aqua war bei denen ja auch schon dabei. Es kann sich sicher noch mancher an das teure Aqua-Hochglanzprospekt erinnern das an 100000nde HAushalte geschickt wurde und den LAden bei einem Kurs weit über 2 EUR hochgelobt hat nur um danach 80% zu verlieren.

Mit Aqua haben die krofisch-Ausgrabungen weder inhaltlich noch sinnverwandt mit einer anderen Aktiengesellschaft zu tun.
BAVARIAN NORDIC hatte ich mal 1 JAhr lang und vor 3 Jahren für 74 verkauft, heute steht es bei 79.
Die Firma ist auch keinerwegs eine Pleitefirma wie Aqua sondern ein gut aufgestelltes Biotechunternehmen. Ich hab also keine Ahnung was dieser Kasper mit diesem Vergleich sagen will.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.058.123 von wohinistmeinGeld am 20.01.07 17:13:28

Bavarian Nordic steht übrigens knapp unter Allzeithoch und weit über 1000% in Plus von den Tiefs im Vergleich zu krofischs Aqua, die 80% Minus von den Hochs gemacht haben und nahe dem Allzeittief stehen.

Aber das ist ja nichts außergewöhnliches, es gibt kaum Aktien die schlechter gelaufen sind als Aqua.

[wohinistmeinGeld]

Erkennt da jemand den Manager wieder


Ein Mann in einem Heißluftballon hat die Orientierung verloren. Er geht tiefer und sichtet eine Frau am Boden. Er sinkt noch weiter ab und ruft:
"Entschuldigung, können Sie mir helfen? Ich habe einem Freund versprochen, ihn vor einer Stunde zu treffen; und ich weiß nicht wo ich bin."
Die Frau am Boden antwortet:
"Sie sind in einem Heißluftballon in ungefähr 10m Höhe über Grund. Sie befinden sich auf dem 49.Grad, 28 Minuten und 11 Sekunden nördlicher Breite und 8.Grad, 28 Minuten und 58 Sekunden östlicher Länge."
"Sie müssen Ingenieurin sein" sagt der Ballonfahrer.
"Bin ich", antwortet die Frau, "woher wissen Sie das?"
"Nun", sagt der Ballonfahrer, "alles was Sie mir sagten ist technisch korrekt, aber ich habe keine Ahnung, was ich mit Ihren Informationen anfangen soll, und Fakt ist, dass ich immer noch nicht weiß, wo ich bin. Offen gesagt, waren Sie keine große Hilfe. Sie haben höchstens meine Reise noch weiter verzögert."
Die Frau antwortet:
"Sie müssen im Management tätig sein."
"Ja," antwortet der Ballonfahrer, "aber woher wissen Sie das?"
"Nun," sagt die Frau, "Sie wissen weder, wo Sie sind, noch wohin Sie fahren. Sie sind aufgrund einer großen Menge heißer Luft in Ihre jetzige Position gekommen. Sie haben ein Versprechen gemacht, von dem Sie keine Ahnung haben, wie Sie es einhalten können und erwarten von den Leuten unter Ihnen, dass sie Ihre Probleme lösen. Tatsache ist, dass Sie nun in der gleichen Lage sind, wie vor unserem Treffen, aber merkwürdigerweise bin ich jetzt irgendwie schuld!"

[krofisch]

Antwort auf Beitrag Nr.: 27.076.918 von wohinistmeinGeld am 21.01.07 13:53:24

mit seinem kindlichen Gemüt

hier muß ich bleiben, hier ist es immer lustig

der Schwachkopf



Getroffene Hunde bellen eben offenbar doch sehr laut!



Ohne Worte:

von wohinistmeinGeld (10.07.04 23:54:21)
betrifft Aktie: BAVARIAN NORDIC AS
wo mein Geld ist weiß ich übrigens trotzdem nicht, ich weiß nur das es weg ist

von wohinistmeinGeld (06.07.04 22:55:21)
betrifft Aktie: BAVARIAN NORDIC AS
... Ich bin schon oft genug darauf reingefallen, ich glaube es wird Zeit zu kündigen. Was treiben die eigentlich den ganzen Tag für Ihr Geld?

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.116.706 von krofisch am 22.01.07 19:11:54

dir muß es ja schon sehr langweilig sein wenn du in 3 Jahre alten Threads nach Beiträgen rumsuchst die überhaupt nichts mit Aqua zu tun haben.
Deshalb ist auch klar, daß dein Beitrag Ohne Worte: sein muß, dazu fällt dir wie immer sowieso nichts ein.

Erklär doch mal den Zusammenhang zwischen diesen Beiträgen, die zu einem Zeitpunkt geschrieben wurden wo ich noch nicht mal was von Aqua gehört hatte, die weder mit Aqua direkt noch indirekt irgendwas zu tun haben, und die auch in dem Thread, aus dem du sie hast nichts mit dem Thema zu tun hatten, sondern allgeime Äußerungen zu der Lage waren bzw, meine Meinung über Pusherbriefe.

Genausowenig hat Bavaria Bio irgendwas mit Aqua zu tun, als Biotech Unternehmen haben die so viel mit Aqua zu tun wie ein krofisch mit Intelligenz. Auch die sonstige Situation ist nicht vergleichbar. Die haben ein brachenübliches KGV von 18. Aqua wird nie ein KGV haben, dazu muß man auch mal was herstellen und verkaufen.
Und sie haben Weltweit Werke die man auf der homepage mal ansehen kann, Aqua hat ein Kellerloch.




Ich muß dir fast dafür dankbar sein das du mich an die Firma erinnert hast, ich muß mich mal informieren wie es da zur Zeit aussieht.


http://www.bavarian-nordic.com/about

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.118.186 von wohinistmeinGeld am 22.01.07 20:17:34

Hab vergessen dich aufzufordern irgendeine sinnvolle Begründung bzw Verbindung zu liefern die zwischen Bavaria Nordic und Aqua, oder meine, von dir ausgegrabenen Uraltbeiträge aus dem Bavaria Thread und Aqua besteht, oder was für einen Zweck es sonst dienen soll.

Das wird mal wieder den Lesern hier zeigen was in deinem Kopf vorgeht.

Ist das deine Verzweiflung über den letzten Bericht, in dem aber auch gar nichts steht das man positiv nennen könnte?
Also egal was du auch alles ausgräbst, es wird nicht davon ablenken,- ein Dilettantenladen bleibt ein Dilettantenladen.

[westfale64]

30 Mio. Gesamtverlust und 2 Mio. Fehlkapital. Und wohin das Aktionärsgeld neben den „Berater“-Zahlungen geflossen ist schreibt Aqua auch –nämlich mittels „management fees“an die eigenen(!)Vorstände Hamm und Stamm:


ZITATE AUS CAQUAS LETZTEN QUARTALSBERICHTEN:
„We incurred management fees of $640,939 during the nine months ended June 30, 2006. The majority of these fees were for amounts charged under a management consulting contract with Stamm & Lang Rechtsanwalte, a German law firm of which Achim Stamm, our former Chief Financial Officer, Secretary, Treasurer and a former director, is a partner. Also included in management fees are amounts charged under a management consulting contract with Hubert Hamm, a managing director of Aqua GmbH, and the lead consultant for research and development for Aqua GmbH’s HVAC&R department.“



“Included in current liabilities are a total of $1,393,907 payable to Achim Stamm, one of our former officers and directors, and Stamm & Lang Rechtsanwalte, a law firm of which Mr. Stamm, is a partner.”

Wofür zahlt Aqua seinen eigenen Vorständen die Millionen ?
Reicht es diesen Typen nicht, die Anleger mit dem Verkauf ihrer wertlosen Altaktien abzuzocken ?

[krofisch]

Antwort auf Beitrag Nr.: 27.118.495 von wohinistmeinGeld am 22.01.07 20:31:12

Das wird mal wieder den Lesern hier zeigen was in deinem Kopf vorgeht.


Getroffene Hunde bellen eben offenbar doch sehr laut!

[krofisch]

Antwort auf Beitrag Nr.: 27.125.981 von westfale64 am 23.01.07 11:19:17

Hier das Original:

http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

10KSB 1 form10ksb.htm
--------------------------------------------------------------------------------

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-KSB

(Mark One)

[X] Annual Report Under Section 13 Or 15(d) Of The Securities Exchange Act Of 1934

For the fiscal year ended September 30, 2006

[ ] Transition Report Under Section 13 Or 15(d) Of The Securities Exchange Act Of 1934

For the transition period from _____ to _____

COMMISSION FILE NUMBER: 000-50163

AQUA SOCIETY, INC.
(Name of small business issuer in its charter)

NEVADA 52-2357931
(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)

Konrad - Adenauer Strasse 9-13
45699 Herten, Germany
(Address of principal executive offices)

011-49-6031-791-760
Issuer’s telephone number

Securities registered under Section 12(b) of the Exchange Act: NONE.

Securities registered under Section 12(g) of the Exchange Act: Common Stock, $0.001 Par Value Per
Share.

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 [X] No [ ]

Check if there is no disclosure of delinquent filers in response to Item 405 of Regulation S-B contained in this
form, and no disclosure will be contained, to the best of registrant’s knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-KSB or any amendment to this
Form 10-KSB. [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange
Act). Yes [ ] No [X]

State issuer’s revenues for its most recent fiscal year. $2,203,763

State the aggregate market value of the voting and non-voting common equity held by non-affiliates
computed by reference to the price at which the common equity was sold, or the average bid and asked price
of such common equity, as of a specified date within the past 60 days. (See definition of affiliate in Rule 12b-2
of the Exchange Act.): $13,922,480 based on a price of $0.37 being the average of the closing bid and
ask price of the Company’s common stock as of September 29, 2006.

State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest
practicable date. 118,178,323 Shares of Common Stock as of January 8, 2007.

Transitional Small Business Disclosure Format (check one): Yes [ ] No [X]


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.

ANNUAL REPORT ON FORM 10-KSB
FOR THE YEAR ENDED SEPTEMBER 30, 2006

INDEX

PAGE

PART I 3

ITEM 1. Description of Business. 3
ITEM 2. Description of Property. 12
ITEM 3. Legal Proceedings. 12
ITEM 4. Submission of Matters to a Vote of Security Holders. 12

PART II 13

ITEM 5. Market for Common Equity and Related Stockholder Matters. 13
ITEM 6. Management’s Discussion and Analysis or Plan of Operation. 14
ITEM 7. Financial Statements. 19
ITEM 8. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. 24
ITEM 8A. Controls and Procedures. 24
ITEM 8B. Other Information. 24

PART III 26

ITEM 9. Directors, Executive Officers, Promoters, Control Persons and Corporate Governance; Compliance with Section 16(A) of the Exchange Act. 26
ITEM 10. Executive Compensation. 28
ITEM 11. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 30
ITEM 12. Certain Relationships and Related Transactions, and Director Independence. 34
ITEM 13. Exhibits. 35
ITEM 14. Principal and Accountant Fees and Services. 37

SIGNATURES 38

2


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PART I

Certain statements contained in this Annual Report on Form 10-KSB constitute “forward-looking statements.” These statements, identified by words such as “plan,” “anticipate,” “believe,” “estimate,” “should,” “expect,” and similar expressions include our expectations and objectives regarding our future financial position, operating results and business strategy. These statements reflect the current views of management with respect to future events and are subject to risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from those described in the forward-looking statements. Such risks and uncertainties include those set forth under the caption “Management’s Discussion and Analysis or Plan of Operation” and elsewhere in this Annual Report. We advise you to carefully review the reports and documents we file from time to time with the Securities and Exchange Commission (the “SEC”), particularly our Quarterly Reports on Form 10-QSB and our Current Reports on Form 8-K.

As used in this Annual Report, the terms “we,” “us,” “our,” “Aqua Society,” and the “Company” mean Aqua Society, Inc. and its subsidiaries, unless otherwise indicated. All dollar amounts in this Annual Report are expressed in U.S. dollars, unless otherwise indicated.

ITEM 1. DESCRIPTION OF BUSINESS.

CORPORATE BACKGROUND

We were incorporated under the laws of the State of Nevada on March 2, 2000, under the name “V G Tech, Inc.”

On September 22, 2004, we completed the acquisition of Aqua Society GmbH (“Aqua GmbH”). Prior to our acquisition of Aqua GmbH, we were in the business of providing services in the areas of digital graphics and special effects. Upon completing the acquisition of Aqua GmbH, we abandoned this digital imaging business. We are now in the business of designing and developing applied technologies, and providing consulting services, in the areas of heating, ventilation, air conditioning, refrigeration, water purification, waste water treatment, and, our latest business segment, energy (collectively, the “Aqua Business”).

Effective December 27, 2004, we changed our name to “Aqua Society, Inc.” to better reflect the nature of our current business operations

Acquisition of Aqua GmbH

On September 22, 2004, we completed the acquisition of a 100% interest in Aqua GmbH from its sole stockholder, Water-Capital-Holding Ltd. (“Water”).

We acquired our 100% ownership interest in Aqua GmbH from Water in exchange for:

(a) the issuance of 10,000,000 shares of our common stock;


(b) the issuance of special warrants (the “Special Warrants”) to acquire 34,000,000 shares of our common stock; and


(c) the transfer to Water of 36,000,000 shares of our common stock owned by Steve Livingston, our former President, Secretary, Treasurer and Director, being all of the shares of our common stock owned by Mr. Livingston.


The Special Warrants entitled the holder to acquire one additional share of our common stock for each special warrant held, without the payment of any additional consideration. Under the terms of the Special Warrants, they could not be exercised until we had authorized capital of at least 200,000,000 shares of common stock (the “Triggering Event”). On December 6, 2004, we amended our Articles of Incorporation to increase our authorized capital to 300,000,000 shares of common stock. Upon effective filing of our Certificate of Amendment increasing our authorized capital to 300,000,000 shares of common stock, Water exercised the Special Warrants and we issued to them an additional 34,000,000 shares of our common

3


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stock. Pursuant to the terms of the Special Warrants, these shares were issued to Water without the payment of any additional consideration.

Under generally accepted accounting principles, our acquisition of Aqua GmbH has been accounted for as a reverse acquisition. As such, Aqua GmbH has been treated as the acquiring entity for accounting and financial reporting purposes. See Item 6, “Critical Accounting Policies.” As such, the financial statements attached to this Annual Report are presented as a continuation of the operations of Aqua GmbH, which was incorporated on May 13, 2004, and not our predecessor V G Tech, Inc.

Aqua Society GmbH

Aqua GmbH was founded as limited liability corporation (a Gesellschaft mit beschraenkter Haftung) under the federal laws of Germany on May 13, 2004. Prior to its acquisition by us, Aqua GmbH was primarily engaged in organizational activities and had earned no revenues to that point.

Aqua GmbH was formed for the purpose of developing commercial applications for its three core technologies (collectively, the “Aqua Technologies”). These Aqua Technologies have been used to develop the AquaMission, ThermoMobil and waste heat power generator products described below (collectively, the “Aqua Products”).

RECENT CORPORATE DEVELOPMENTS

The following significant corporate developments have occurred since the end of our September 30, 2005 fiscal year:

1. In February, 2006, we entered into an agreement with Sportfive GmbH & Co. KG, a sports management company representing heavyweight boxer, Wladamir Klitschko, to act as a sponsor of the heavyweight title fight between Mr. Klitschko and Chris Byrd. The fight took place on April 22, 2006 at the SAP Arena in Mannheim, Germany. Pursuant to our agreement with Sportfive, our logo appeared at various places around the ring and on various merchandise related to the fight, including the floor and the four corners of the ring, the press kit, and a full page inclusion in the official magazine for the fight. In consideration for these rights, we agreed to pay Sportfive EUR 175,000 (approximately $211,000) and related production costs of approximately EUR 64,000 (approximately $77,000), with VAT of 16% payable on both.


2. In February, 2006, we completed a private placement with two corporate investors of 1,160,960 units at a price of $1.04 per unit for total proceeds of $1,207,398 (approximately EUR 1,000,000). Each unit was comprised of one share of the Company’s common stock and one share purchase warrant. Each share purchase warrant entitles the holder to purchase one additional share of the Company’s common stock at a price of $1.30 per share for a period of two years from the date of closing. This private placement was completed pursuant to the provisions of Regulation S promulgated under the Securities Act of 1933. We did not engage in a distribution of this offering in the United States. Each of the investors has represented that they were not US persons as defined in Regulation S, and have provided representations indicating that they were acquiring our securities for investment purposes only and not with a view towards distribution. No underwriting discounts or commissions were involved.


3. In March, 2006, we received an order from Loick AG for a waste heat power generation system based on our Yellow Box product. Loick is a company based in Dorsten, Germany, that specializes in the development and production of renewable resource products such as bioplastics and biogas energy systems. The ordered unit is to be used to generate electricity from the waste heat generated by one of Loick’s existing biogas power generators. The biogas systems produced by Loick are used to supply electricity to the public grid in Germany.


The unit ordered by Loick is to be customized to the particular biogas generator to which it will be installed. Loick is currently installing a new motor onto the biogas generator. As such, the design and construction of the ordered waste heat power generation system is being delayed until Loick has


4


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completed the installation of the new motor. As of the date we filed this Annual Report, Loick had still not finished installing the motor. Loick has informed us that they expect to complete the installation of this motor sometime in 2007. We have no control over Loick’s installation of this motor and, as a result, we can provide no assurances when construction of the unit ordered by Loick will begin. Once construction has begun, we expect that it will take us approximately 3 months to complete.


4. In April, 2006, we announced that we had formed a joint venture with Loick AG and ODAS OHG, a company based in Dorsten, Germany, that specializes in the supply of plant based biomass raw materials. The joint venture entity, known as TMR GmbH, was originally formed to develop, build, distribute and manage renewable energy facilities. Subsequent to our September 30, 2006 fiscal year end, it was determined that we would not proceed with the TMR joint venture and, in December, 2006, we sold our interest in TMR to Loick for EUR 1.00.


5. In April, 2006, we announced that we had received an order from More Power Energie GmbH (“MPE”). MPE ordered a combined heat and power plant that is to be used to convert the waste heat from a biogas power plant into electricity. MPE intends to connect the ordered unit to a biogas power plant owned by a third party operator.


Specifications for the ordered unit were delivered by MPE during our 2006 fiscal year and construction is currently in progress. Construction was originally expected to take us approximately 3 months to complete, however we are still working with MPE to optimize the ordered unit and the plant in accordance with their specifications. We expect to complete construction and delivery of the ordered unit in 2007. However, there are no assurances that we will be able to complete the construction of this unit within the time frame estimated. In addition, even if we are able to complete construction of the ordered unit, there are no assurances that, once installed, it will function as expected.


6. In April, 2006, we announced that we had received an order to install AquaMission combined air-conditioning and drinking water supply systems to a residential complex to be constructed in Hyderabad, India by North East Developers and Real Estates (“North East Developers”). The AquaMissions to be supplied are also to be fitted with our EnergyMission / Yellow Box products. Schematics of the residential complex have not been finalized and construction of the complex has not yet begun. North East Developers has tentatively scheduled construction to begin in January, 2007. Based on this timetable, we do not expect to be able to begin designing and constructing the ordered units until at least the Summer of 2007. However, we have no control over the construction of the residential complex and we cannot begin building the units to be supplied to North East Developers until construction has begun and they have delivered the necessary schematics to us. There can be no assurances with respect to when we will receive the necessary schematics or that the actual units to be delivered will be those set out in the order. In addition, payment will be dependent upon the successful installation of the units ordered. There are no assurances that we will be able to successfully install the ordered units, or that, once installed, those units will function as expected.


7. We completed a private placement with a corporate investor for 1,245,375 units at a price of $0.88 per unit for total proceeds of $1,095,930 (approximately EUR 900,000). Each unit was comprised of one share of our common stock and one share purchase warrant. Each share purchase warrant entitles the holder to purchase one additional share of our common stock at a price of $1.10 per share for a period of two years from the date of closing. We had previously announced in February, 2006 that this private placement had been negotiated for 1,044,863 units at a subscription price of $1.04 per unit, with a share purchase warrant exercise price of $1.30 per share. The terms of this private placement were revised in order to reflect changes to the market price of our common stock and changes in foreign exchange rates. The subscribed for units were issued effective June 8, 2006 pursuant to the provisions of Regulation S on the basis that the offering does not involve a distribution in the United States and that the investor is not a U.S. person as defined in Regulation S. No underwriting discounts or commissions were involved.


8. In December, 2005, we had installed a ThermoMobil unit onto a Ford Transit to be used for marketing purposes. We had been working with a Ford dealership in Dusseldorf, Germany to market the ThermoMobil/Ford Transit in an effort to generate commercial sales of the ThermoMobil.


5


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However, we were unable to reach an agreement with the Ford dealership on a consumer price for the unit. As such, we are no longer pursuing our co-operative efforts with the Ford dealership. We now intend to use the ThermoMobil/Ford Transit unit as part of our marketing efforts in the Benelux countries (Belgium, the Netherlands and Luxembourg).


9. In June, 2006, we sold a 13.1% interest in UFI-TEC GmbH for proceeds of EUR 10,072 (approximately $12,237). As a result we now own only 19.9% of UFI-TEC.


10. On September 30, 2006 we entered into an exclusive patent license agreement with Ecoenergy Patent GmbH. Under the terms of the license agreement, we obtained exclusive rights to manufacture, use and distribute products based on certain patent pending technologies. See “Intellectual Property Rights,” below.


11. After the completion of our 2006 fiscal year, we completed the construction of a demonstration prototype of our EnergyMission / Yellow Box technology. A media event to showcase this demonstration model was held at our facilities on December 21, 2006. This demonstration unit will be used by us for marketing and demonstration purposes as well as for research and development.


12. On December 21, 2006, our Board of Directors approved and adopted our 2006 Stock Option Plan (the “2006 Option Plan”). Under the 2006 Option Plan, options may be granted for a maximum of 7,000,000 shares of our common stock. The maximum number of shares that may be optioned under the 2006 Option Plan will increase each fiscal quarter, beginning with the fiscal quarter commencing April 1, 2007, by an amount equal to 15% of the total increase in the number of shares of common stock outstanding or such lesser amount as may be determined by our Board of Directors.


A summary of our 2006 Option Plan is set forth in our Current Report on Form 8-K filed with the SEC on December 29, 2006. The full text of the 2006 Option Plan is attached as Exhibit 10.1 to our Current Report on Form 8-K filed with the SEC on December 29, 2006, and is incorporated by reference herein.


13. Also on December 21, 2006, our Board of Directors approved the grant of options under the 2006 Option Plan for 2,500,000 shares of our common stock at an exercise price of $0.40 per share to Mr. Terberg and options to purchase an aggregate of 2,000,000 shares of our commons stock to Mr. van der Zee, also at a price of $0.40. The options granted to each of Mr. Terberg and Mr. van der Zee vest in equal quarterly instalments, commencing on April 1, 2007 and expiring 2 years after the applicable vesting date. See Part III, Item 10 “Executive Compensation – Director Compensation Arrangements.”


Changes to the Board of Directors and Executive Officers

In addition to the above corporate developments, there have been a number of changes to our Board of Directors and executive officers since the end of our 2005 fiscal year.

Effective December 13, 2005, Petrus Lodestijn replaced Achim Stamm as our Chief Executive Officer and President. Mr. Stamm continued to act as our Chief Financial Officer, Treasurer and Secretary and continued to act on our Board of Directors until March 22, 2006, when Mr. Lodestijn replaced Mr. Stamm in those capacities as well.

Effective on October 31, 2006, Robert Terberg replaced Mr. Lodestijn as our Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary and also as a member of our Board of Directors. Also effective on October 31, 2006, our Board of Directors was expanded by the appointment of Hubert Hamm as a director of the Company and by the appointment of Hugo van der Zee as the Chairman of the Company’s Board of Directors.

Biographical information for each of Mr. Terberg, Mr. Hamm and Mr. van der Zee is provided at Part II, Item 9 “Directors, Executive Officers, Promoters, Control Persons and Corporate Governance; Compliance with Section 16(A) of the Exchange Act.“

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BUSINESS SEGMENTS

Heating, Ventilation, Air Conditioning & Refrigeration (“HVAC&R”)

Our core competency in the areas of HVAC&R lies in our ability to optimize refrigeration technologies by maximizing cooling capacity and minimizing machinery size and energy consumption. Our HVAC&R department has more than 20 years of experience in R&D, construction, maintenance and the optimization of large-scale refrigeration plants for use in major industrial projects such as mining and tunnel construction.

As a result, our team of experts is able to provide HVAC&R solutions for almost industrial system and can advise and guide our clients on all of their needs, including the evaluation or improvement of existing facilities, the sourcing and supply of HVAC&R equipment and the construction and maintenance of HVAC&R facilities.

In addition to providing consulting services in this area, we have also developed our ThermoMobil product. The ThermoMobil is a multi-purpose, self-contained, mobile refrigeration and/or heating unit designed to be loaded and transported onto a variety of large or small transport vehicles. The product is designed to allow users to convert ordinary transportation vehicles into refrigerated and/or heated transports. The refrigeration/heating unit itself can be loaded or unloaded from the transport vehicle and is capable of utilizing either 12 volt (automobile) or 230 volt (household) electricity to power its refrigeration/heating systems. This allows users to load and unload cargo without interrupting the refrigeration or heating chain. In addition, the ThermoMobil does not require extensive modification to the transportation vehicle itself, allowing it to still be used as a non-refrigerated/heated transport while the refrigeration/heating unit is being used to provide temporary storage.

Water Production and Purification

The efficient and sustainable utilization of the world's water resources requires the extraction of water from sources which are replenished by nature in a short time and the multiple use of water extracted. In this sector, our focus is to produce, purify and recycle potable water through the use of membrane and vacuum technologies. Our water experts have 20 years of experience in successfully designing, constructing and maintaining various water purification, water recycling and waste water treatment plants not only for research and development facilities of different German universities but also for industrial production plants, hospitals and military institutions in different parts of the world. Our team has particular expertise in using membrane and vacuum technologies to design, construct and maintain water purification, water recycling and waste water treatment systems.

In addition to providing services in the areas of water purification and water treatment, we have developed a water production unit that we call the AquaMission. The AquaMission utilizes a patented process to extract water from ambient air. At a temperature of 23°C (73°F) and humidity of 75%, the atmosphere contains about 16g of water per kg of air (approximately 0.56 oz. for every 2.2 lbs. of air). By cooling the air down to 10°C (50°F), approximately 8g (approximately 0.28 oz.) of condensed water can be produced. Air is supplied to a refrigerated surface contained within the unit which then causes water in the air to condensate. The collected water is then passed through a treatment filter for purification. The result is potable water which meets the standards established by the World Health Organization’s Guidelines for Drinking-Water Quality. We have built and tested prototypes of various sizes for the AquaMission. The smallest prototype, approximately 40cm x 40cm x 60cm (1.3 ft. x 1.3 ft. x 2.0 ft.) in size, is, depending on humidity and temperature, capable of producing up to 24L (approximately 6.3 gal.) of drinking quality water per day. The largest prototype, approximately 240 cm x 600 cm x 240 cm (8 ft. x 20ft x 8 ft.) in size, is, depending on humidity and temperature, capable of producing up to 6,000L (approximately 1,585 gal.) of drinking quality water per day.

Energy

Waste heat in the low-temperature range represents a widely unused potential energy source. According to a current market study on unused waste heat commissioned by us, in Germany alone, there is approximately 85,000 megawatts (MW) of potentially exploitable waste heat energy in the 80°C to 260°C temperature range generated by industrial sources. Worldwide, the targeted use of low-temperature waste heat to generate

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electricity could make a significant contribution to the conservation of fossil fuel resources and the reduction of carbon dioxide emissions.

We have currently developed a product, known as the EnergyMission or “Yellow Box” that is capable of converting waste heat at temperatures as low as 100°C (212°F) into usable electricity. Originally developed as a means of optimizing the performance of cooling systems, we have adapted this technology for use with refrigeration and air conditioning units as well as for use with our AquaMission and ThermoMobil products, increasing the overall energy efficiency of those units. In addition, we are currently working to adapt this technology for use on biogas electrical generators. Construction of a prototype of the EnergyMission was completed shortly after our 2006 fiscal year end.

INTELLECTUAL PROPERTY RIGHTS

We own the rights to the following patented technologies:

Patent Number Name
German Patent No. 101 29 047.0 Fully sintered heat exchangers in all possible geometric forms for all application purposes

German Patent No. DE 102 23 578 A1 Device for recovering used water

International Patent No. WO 01/753181 A3 and WO 01/753181 A2 Transportable cool box system technology


In addition, we have licensed from Ecoenergy Patent GmbH (“Ecoenergy”) exclusive rights (the “License Rights”) to manufacture, use and distribute products based on the following patent pending technologies (the “Ecoenergy Technologies”):

Patent Number Name
International Patent Application No. 2005/061858 Method for converting heat energy into mechanical energy with a low-pressure expansion device.

International Patent Application No. 2005/066466 Method and system for converting heat energy into mechanical energy.

International Patent Application No. 2005/061973 Method and system for increasing the temperature of a vaporous working medium.

International Patent Application No. 2005/066465 Method and installation for converting heat energy from refrigerating machines.

International Patent Application No. 2005/078243 Method and installation for converting thermal energy from fluids into mechanical energy.

International Patent Application No. 2005/061857 Device and method for converting heat energy into mechanical energy.


Ecoenergy is owned by Hubert Hamm and Dr. Erwin Oser. Mr. Hamm has acted as the managing director of Aqua GmbH since its inception, is one of our key consultants and is also one of our principal stockholders. In addition, on October 31, 2006, Mr. Hamm was appointed to our Board of Directors. Dr. Oser has been a member of our Board of Directors since October 20, 2004 and is one of our key consultants in the area of energy optimization.

We were granted the License Rights in exchange for certain patent application costs related to the Ecoenergy Technologies that were paid for by us.

A summary of the material provisions of our license agreement with Ecoenergy is provided below. This summary does not, however, purport to be complete, and is qualified in its entirety by reference to the full text

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of our license agreement with Ecoenergy, a copy of which was attached as an exhibit to our Current Report on Form 8-K, filed with the SEC on October 6, 2006.

Scope of License Rights

The License Rights extend within the signatory countries to the European Patent Convention, the United States of America and India for a period of 15 years, unless terminated earlier in accordance with its provisions. The License Rights are exclusive and cover the manufacture, use and distribution of products based on the Ecoenergy Technologies within the following areas (collectively, the “Technical Applications”):

1. Energy recovery from the waste heat generated when drawing water from the atmosphere;

2. Energy recovery from the waste heat generated by refrigeration and air conditioning systems;

3. Energy recovery from the waste heat generated by block-type thermal power stations;

4. Energy recovery from the waste heat from industrial heat processes; and

5. Energy recovery from the waste heat of exhaust and sewage streams.


The prior written approval of Ecoenergy is required in order to sublicense any of the License Rights or to contract out the manufacture of products based on the Ecoenergy Technologies to third parties.

Annual Royalty and Patent Maintenance Fees

We are required to pay annual royalties to Ecoenergy as follows:

(a) 2% of annual sales revenues (without sales tax) earned by Aqua GmbH up to EUR 50,000,000 (approximately $63,428,000);


(b) 1.5% of the portion of annual sales revenues (without sales tax) in excess of EUR 50,000,000 (approximately $63,428,000) up to EUR 100,000,000 (approximately $125,856,000); and


(c) 1% of the portion of annual sales revenues (without sales tax) in excess of EUR 100,000,000 (approximately $125,856,000).


Any revenues earned from the sublicensing of the License Rights are to be included in annual sales revenues.

In addition to paying the annual royalty amounts to Ecoenergy, we are required to pay all costs and fees associated with maintaining the patent rights associated with the Ecoenergy Technologies. In particular, we are required to pay for any filing fees required to keep the patent and/or patent applications associated with the Ecoenergy Technologies in good standing with the relevant patent authorities within the License Territory and any associated attorneys’ fees.

Minimum Sales Requirements

In order to maintain our exclusive License Rights under the License Agreement, we are required generate minimum annual sales revenues for each Technical Application to which the License Rights apply. If we fail to meet the minimum annual sales requirements for any Technical Application for two consecutive years, the License Rights, as applied to that particular Technical Application, automatically become non-exclusive. If, after the License Rights become non-exclusive as a result of a failure to meet the minimum sales requirements, we again fail to meet the minimum annual sales requirements for two consecutive years, Ecoenergy may, at its option, terminate our non-exclusive License Rights for that particular Technical Application. In order to exercise its option to terminate, Ecoenergy must inform us of its intention to do so, in writing, within 4 weeks after receiving our statement of accounts relating to the total annual sales of products based on the Ecoenergy Technologies and, in no case, later than June 30th.

A failure to meet the minimum sales requirements for any particular Technical Application will not affect our License Rights for any other Technical Application.

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The minimum annual sales requirements for each Technical Application are as follows:

1. Energy recovery from the waste heat generated when drawing water from the atmosphere



Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 500,000 (approximately $635,000)
2008 EUR 750,000 (approximately $952,500)
2009 EUR 1,000,000 (approximately $1,270,000)
2010 to expiration EUR 2,000,000 (approximately $1,540,000)


2. Energy recovery from the waste heat generated by refrigeration and air conditioning systems



Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 500,000 (approximately $635,000)
2008 EUR 750,000 (approximately $952,500)
2009 EUR 900,000 (approximately $1,143,000)
2010 to expiration EUR 2,000,000 (approximately $1,540,000)


3. Energy recovery from the waste heat generated by block-type thermal power stations



Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 1,200,000 (approximately $1,524,000)
2008 EUR 1,500,000 (approximately $1,905,000)
2009 EUR 1,500,000 (approximately $1,905,000)
2010 to expiration EUR 3,000,000 (approximately $3,810,000)


4. Energy recovery from the waste heat from industrial heat processes



Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 400,000 (approximately $508,000)
2008 EUR 500,000 (approximately $635,000)
2009 EUR 800,000 (approximately $1,016,000)
2010 to expiration EUR 1,500,000 (approximately $1,905,000)


5. Energy recovery from the waste heat of exhaust and sewage streams



Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 400,000 (approximately $508,000)
2008 EUR 500,000 (approximately $635,000)
2009 EUR 800,000 (approximately $1,016,000)
2010 to expiration EUR 1,500,000 (approximately $1,905,000)

COMPETITIVE BUSINESS CONDITIONS

We are unaware of any products currently in existence that compete directly with our existing and proposed products. However, the markets for HVAC&R, water purification, waste water treatment, water supply and energy optimization services and technologies are, in general, extremely competitive.

Many of the existing services and technologies provided by others are more established and have gained wider acceptance in the marketplace. Many of these service and equipment providers will be more established and have greater technical, financial, marketing and sales resources than us. We believe that our ability to compete in this area will depend upon our ability to combine and optimize existing technologies

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and to develop novel, more efficient solutions to existing problems. However, there are no assurances that we will be able to effectively differentiate ourselves from our competitors.

RESEARCH AND DEVELOPMENT

During the past two fiscal years, we have spent approximately $2,829,267 on research and development activities. Although we have completed principal development of our technologies and products, we are still in the process of refining those technologies and products for commercial use. Subject to our ability to acquire additional financing, we hope to complete our research and development activities during our 2007 fiscal year.

GOVERNMENT AND ENVIRONMENTAL REGULATIONS

Although we are not aware of any specific government and environmental regulations applicable to our business operations, it is likely that our operations will be subject to extensive government regulations in the United States, Europe and elsewhere.

In order to sell our products, we may have to satisfy numerous mandatory procedures, regulations, and safety standards established by international, federal and state regulatory agencies. There can be no assurance that we can successfully comply with all present or future government regulations.

EMPLOYEES

We currently have eight full-time employees. In addition to these employees, we have retained the services of four consultants who are key to our business operations.

Hubert Hamm: Mr. Hamm is the inventor of the patented Aqua Technologies and is the lead consultant for research and development for Aqua GmbH’s HVAC&R Department. Mr. Hamm is a managing director of Aqua GmbH, and, since October 31, 2006, has acted as a member of our Board of Directors. Mr. Hamm is also one of our principal stockholders. See Part III, Item 11 “Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters”.

Mr. Hamm has over 20 years of experience in the research and development, construction, maintenance and optimization of large-scale refrigeration plants, primarily for applications in mining and tunnel construction. From 1986 to 2001, Mr. Hamm worked in various management positions at RAG (formerly Ruhrkohle AG), a multi-billion dollar international mining and energy company. Mr. Hamm was the head of RAG’s HVAC&R department from 1994 to 2001. Since 2001, Mr. Hamm has been the head of his own engineering consulting firm, specializing in the development of HVAC&R technologies.

Rolf Haake: Mr. Haake is the lead consultant for research and development for Aqua GmbH’s Water Purification Department.

Mr. Haake has over 30 years of experience in the areas of water purification and treatment. From 1972 until 1978, Mr. Haake was the director of the North Rhine/Westphalia sales office for Deutsche Ton- und Steinzeugwerke AG, involved in the planning and sales of water purification and waste water treatment plants and related environmental technologies. Since 1978, Mr. Haake has been involved in running a number of independent businesses responsible for the planning and construction of waste-water treatment facilities.

Dr. Erwin Oser: Dr. Oser is our lead consultant in charge of research and development for our Energy Technologies Department. Dr. Oser has been a member of our Board of Directors since October 20, 2004.

Since 1985, Dr. Oser has been the principal of Dr. Oser/Partner In Technik, a German based Management Consulting firm, that specializes in assisting their clients with the creation of efficient organization structures, product development and the introduction of new technologies. Dr. Oser received his Diploma in Physics and his Doctorate in Physical Chemistry from RWTH Aachen, in Germany. He also completed post graduate studies at RWTH Aachen where he obtained his certificate in Economics.

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ITEM 2. DESCRIPTION OF PROPERTY.

Our corporate headquarters is located at Konrad-Adenauer Strasse 9-13, 95699 Herten, Germany and consists of approximately 1,200 square meters. We rent this facility at a cost of approximately EUR 6,690 per month (approximately $8,500). We do not currently own or lease any additional land, buildings or office space.

ITEM 3. LEGAL PROCEEDINGS.

We are not a party to any material legal proceedings and, to our knowledge, no such proceedings are pending.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

None.

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PART II

ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS.

Market Information

Our shares are currently trading on the Over-The-Counter Bulletin Board (the “OTCBB”) under the symbol AQAS. The high and the low bid prices for our shares for the last two fiscal years of actual trading, as reported by the OTCBB were:

QUARTER
HIGH ($)
LOW ($)

1st Quarter 2005 $4.41 $1.30
2nd Quarter 2005 $2.95 $2.10
3rd Quarter 2005 $3.65 $1.50
4th Quarter 2005 $3.75 $1.72
1st Quarter 2006 $2.10 $1.18
2nd Quarter 2006 $1.50 $1.00
3rd Quarter 2006 $1.33 $0.47
4th Quarter 2006 $0.65 $0.25

The trades reflect inter-dealer prices, without retail mark-up, markdown or commission and may not represent actual transactions.

Holders Of Our Common Stock

As of September 30, 2006, we had 17 registered shareholders and 118,178,323 shares of our common stock issued and outstanding. In addition, we believe that there are a large number of stockholders who hold shares of our common stock on deposit with their brokers or investment bankers registered in the name of stock depositories.

Dividends

We have not declared any dividends on our stock since our inception. There are no dividend restrictions that limit our ability to pay dividends on our common stock in our Articles of Incorporation or Bylaws. Our governing statute, Chapter 78 – “Private Corporations” of the Nevada Revised Statutes (the “NRS”), does provide limitations on our ability to declare dividends. Section 78.288 of Chapter 78 of the NRS prohibits us from declaring dividends where, after giving effect to the distribution of the dividend:

(a) we would not be able to pay our debts as they become due in the usual course of business; or


(b) our total assets would be less than the sum of our total liabilities plus the amount that would be needed, if we were to be dissolved at the time of distribution, to satisfy the preferential rights upon dissolution of stockholders who may have preferential rights and whose preferential rights are superior to those receiving the distribution (except as otherwise specifically allowed by our Articles of Incorporation).


Recent Sales Of Unregistered Securities

All unregistered sales of our equity securities completed during our fiscal year ended September 30, 2006 have been previously reported in the Quarterly Reports on Form 10-QSB and Current Reports on Form 8-K that we filed during that period.

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ITEM 6. MANAGEMENT’S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

PLAN OF OPERATION

During the next twelve months, we will focus: (1) on the design and construction of products ordered from us; (2) on further developing the market for our products; and (3) on continuing to develop and improve our products. Specifically, our plan of operation for the next twelve months involves the following:

1. Design and Construction of Ordered Units: During the next twelve months, we will work on the design and construction of the waste heat power generation, AquaMission and ThermoMobil units for which we have received orders:


(a) With respect to the waste heat power generation unit ordered by Loick, we are currently waiting for Loick to provide us with specifications for the biogas generator to which the ordered unit is to be attached. Once we have received the necessary data from Loick, we expect that it will take us approximately three months to design and construct the ordered unit. As of the date of filing of this Annual Report, we had not yet received the necessary specifications. We expect to receive this data from Loick sometime before the Summer of 2007.


(b) We are currently working with MPE to optimize the waste heat power generation unit ordered by them. We expect to complete construction and delivery of the ordered unit in 2007. However, there are no assurances that we will be able to complete the construction of this unit within the time frame estimated. In addition, even if we are able to complete construction of the ordered unit, there are no assurances that, once installed, it will function as expected.


(c) We do not expect to begin designing or constructing the combined AquaMission and Yellow Box units ordered by North East Developers in Hyderabad, India until at least the Summer of 2007. North East Developers is still in the process of finalizing schematics and plans for the planned residential complex in Hyderabad, India, with construction tentatively scheduled to begin in January, 2007. However, we have no control over the construction of the planned residential complex and we can provide no assurances that construction on the residential complex will begin when scheduled or at all.


(d) In 2005, we received an order from Refrigeraciones Kal-Tec Espana S.L. (“Kal-Tec”) for one AquaMission unit. Delivery of this unit was originally scheduled for the Fall of 2005; however delivery has not yet been made. We are currently in discussions with Kal-Tec regarding the status of their order. However, because there have been significant and ongoing delays in the construction and delivery of the AquaMission unit ordered by Kal-Tec, there are no assurances that we will be able to complete construction of the ordered unit or that delivery of the unit will be accepted.


(e) We have an agreement with BS Technik GmbH (“BS Technik”) for the delivery of 15 ThermoMobil units of varying sizes. In August of 2005, we reported that BS Technik had agreed to allow us to delay delivery of the ThermoMobil units ordered by them. However, there have been significant and ongoing delays in the construction and delivery of the units ordered by BS Technik. As a result of these delays, there are no assurances that BS Technik will still accept delivery of the ordered ThermoMobil units. We are currently in discussions with BS Technik regarding the status of their order and are in negotiations with them to deliver newly developed and improved ThermoMobil units.


2. Market Development Activities: Over the next twelve months we intend to do the following in an effort continue developing a market for our products and services:


(a) We have completed the construction of a prototype EnergyMission / Yellow Box unit that we will use for marketing and demonstration purposes, as well as for ongoing research and development. The prototype unit will be used by us to demonstrate the effectiveness of our technology to trade media and industry representatives on an ongoing basis.


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(b) We are also in the process of setting up a wholly owned subsidiary in the Netherlands, through which we will seek to promote all of our products in the “Benelux” countries (Belgium, the Netherlands and Luxemberg). The office for this subsidiary will be located in Zevenaar, near Arnhem in the east of the Netherlands.


(c) We will continue to attempt to market the AquaMission combined air-conditioning and drinking water product in geographic locations with high ambient temperatures and relative humidity but without readily available sources of fresh water, such as the Persian Gulf and the Middle East. Three demonstration models of the AquaMission are currently on location in the Middle East. We are currently in the process of seeking new sales agents for our products in the Middle East.


We will continue to try and generate sales in the Middle East using these demonstration models. However we have no specific time frame for this and there are no assurances that we will be able to generate any sales in the Middle East or India.


In addition to these activities, we may also seek to increase brand awareness through various advertising activities and sponsorships.


3. Product Development Activities: During the next twelve months, we will also continue to work on further developing and improving our existing products in an effort to increase their marketability. As part of these efforts, we have developed and built a demonstration model of our Yellow Box technology.


We are also in the process of constructing a high-tech “climate room” that will allow us to simulate the world’s various humidity and temperature zones. This “climate room” will assist us in optimizing our AquaMission unit for different geographic locations.


We anticipate spending approximately $2,000,000 in pursuing our plan of operation over the next twelve months. As of September 30, 2006, the date of our most recently available financial statements, we had a working capital deficit of $2,059,410. As such, we do not have sufficient working capital to meet our expected needs over the next twelve months. Although we have recently begun to earn revenues, we have not yet earned a net profit and we do not expect to achieve profitability in the near future as we expect to continue to incur substantial product development, marketing and operating expenses. We are likely to continue to need substantial additional financing in order to implement our plan of operation. Our management expects that any additional financing that we obtain will likely be in the form of equity financing.

Our actual expenditures and business plan may differ from the one stated above. Our Board of Directors may decide not to pursue this plan. In addition, we may modify the plan based on available financing.

RESULTS OF OPERATIONS

Summary of Year End Results

Year Ended September 30
Percentage
2006 2005 Increase / (Decrease)
Revenue $2,203,763 $896,535 145.81%
Cost of Goods Sold (1,703,505) (791,302) 115.28%
General and Administrative Expenses (4,842,873) (25,892,791) (81.30)%
Interest Income 14,366 -- 100.00%
Net Loss $(4,328,249) $(25,787,558) (83.22)%

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Revenues

We have only recently begun to earn revenues from our operations and, as a result, we are unable to accurately forecast future revenues. Readers are cautioned that our past operating results may not be indicative of future performance.

The revenues that we earned during the year ended September 30, 2006 were earned from services that we provided and equipment sales in connection with HVAC&R and energy optimizing activities in respect of refrigerating plants used in mining and tunnelling activities.

Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products, and there are no assurances that we will be able earn such revenues in the future.

Expenses

The major components of our operating expenses are outlined in the table below:

Year Ended September 30
Percentage
2006 2005 Increase / (Decrease)
Accounting and audit fees $293,158 $154,626 89.59%
Advertising and promotion 547,324 193,299 183.15%
Amortization 49,926 15,473 222.67%
Bad debts 150,596 33,398 350.91%
Bank charges and interest 3,148 619 408.56%
Consulting fees 293,115 250,518 17.00%
Development costs 1,458,016 1,371,251 6.33%
Filing fees 3,541 7,554 (53.12)%
Foreign exchange (gain) loss (226,479) -- (100.00)%
Interest 152,210 29,271 420.00%
Legal fees 155,365 103,398 50.26%
Management fees 716,231 527,976 35.66%
Office and miscellaneous 214,049 197,567 8.34%
Rent 132,606 117,222 13.12%
Salaries and benefits 520,183 197,006 164.04%
Stock-based compensation -- 22,480,000 (100.00)%
Transfer agent 1,736 6,400 (72.88)%
Travel 167,645 107,511 55.93%
Write Down of Patents (9,298) -- (100.00)%
Write Down of Inventory (49,899) -- (100.00)%
Write Down of Investment and Loan (151,306) (99,702) 51.76%
Total General and Administrative Expenses $4,842,873 $25,892,791 (81.30)%

During the year ended September 30, 2005, we recorded as stock-based compensation, expenses of $22,480,000 on account of options granted during our 2005 fiscal year pursuant to our 2004 Stock Incentive Plan. We did not grant any options or other stock-based compensation during our 2006 fiscal year and, as such, recorded no stock-based compensation expenses during that period. Less stock based compensation,

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our general and administrative expenses for the year ended September 30, 2005 totaled $3,412,791, being $1,430,082 less than our total general and administrative expenses for the year ended September 30, 2006.

The majority of our individual expense items increased significantly when compared to the same period in 2005. These increases are largely a result of our increased operations. We expect that our operating activities will continue to increase over the course of the current fiscal year as we expect to aggressively pursue the marketing of our products and technologies. In addition, we expect that we will continue our ongoing research and development activities.

The largest component of our expenses for the year ended September 30, 2006 were development costs incurred in connection with our ongoing research and development activities. Included in development costs for the year ended September 30, 2006 was $486,434 charged to us by Dr. Erwin Oser, one of our directors. These amounts were incurred by the director while conducting research and development work on our products and technologies, and were reimbursed by us.

Our advertising and promotion expenses have also increased significantly over the amounts spent during the year ended September 30, 2005. We expect our advertising and promotion expenses to continue to increase in the foreseeable future as we intend to concentrate more on marketing our business, products and technologies.

We incurred management fees of $716,231 during the year ended September 30, 2006. Of this amount, $147,529 were paid to Stamm & Lang Rechtsanwalte, a German law firm of which Achim Stamm, our former Chief Financial Officer, Secretary, Treasurer and a former director, is a partner, pursuant to a management consulting contract. An additional $173,140 was paid to Stamm & Lang in lieu of notice upon termination of our agreement with them in February, 2006. Also included in management fees are amounts charged under a management consulting contract with Hubert Hamm, a managing director of Aqua GmbH, and the lead consultant for research and development for Aqua GmbH’s HVAC&R department.

We recognized bad debt expenses in the amount of $150,596 during the year ended September 30, 2006, relating to amounts owing for services and products supplied by us. We also wrote down loans receivable of $66,094 from UFI-TEC GmbH, a company in which we currently own a 19.9% interest.

LIQUIDITY AND FINANCIAL CONDITION

Working Capital

Percentage
At September 30, 2006 At September 30, 2005 Increase / (Decrease)
Current Assets $854,960 $1,840,049 (53.54)%
Current Liabilities (2,914,370) (386,975) 653.12%
Working Capital (Deficit) $(2,059,410) $1,453,074 (241.73)%

Included in current liabilities are a total of $1,441,507 payable to a law firm of which, Achim Stamm, one of our former officers and directors, is a partner. We are currently in negotiations with Mr. Stamm for the settlement of the amounts owed to him and his law firm.

Cash Flows

Year Ended Year Ended
September 30, 2006 September 30, 2005
Cash Flows used in Operating Activities $(3,391,147) $(4,113,488)
Cash Flows used in Investing Activities (121,678) (443,408)
Cash Flows from Financing Activities 3,203,743 5,127,314
Effects of Exchange Rates (162,435) 81,818
Net Increase (Decrease) in Cash During Period $(471,517) $652,236

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Financing during the year ended September 30, 2006 was obtained from the sale of shares of our common stock and short-term loans. During the year ended September 30, 2006, we obtained $2,303,328 in financing from the sale of shares of our common stock in private placement transactions and net loans payable of $900,415.

Of the $2,377,099 in loans payable as of our fiscal year end of September 30, 2006, $1,441,507 is due to Stamm & Lang. Of the amounts due to Stamm & Lang, $697,832 bears interest at a rate of 7.5% per annum, is secured by accounts receivable and was due on December 31, 2006. The remaining $743,675 payable to Stamm & Lang is non-interest bearing, is secured by accounts receivable and was also due on December 31, 2006. The remaining loans payable as of September 30, 2006 were obtained from private persons and consisted of the following amounts:

(a) $185,989, bearing interest at a rate of 7.5% per annum, secured by accounts receivable and payable by December 31, 2006;


(b) $115,326, bearing interest at a rate of 7.5% per annum, unsecured and payable on or before December 31, 2006; and


(c) $634,276, without interest, unsecured and payable on demand.


As at September 30, 2006 we had cash in the amount of $187,432 and a working capital deficit of $2,059,410. We anticipate spending approximately $2,000,000 over the next 12 months in pursuing our plan of operation. We will require substantial additional financing in the next few months in order to pursue our current plan of operation.

Although we have recently begun to earn revenues, we have not yet achieved profitability. We anticipate that we will continue to incur losses for the foreseeable future, as we expect to incur substantial product development, marketing and operating expenses in implementing our plan of operation. Our future financial results are uncertain due to a number of factors, many of which are outside of our control. These factors include, but are not limited to:

(a) our ability to commercially market our ThermoMobil and AquaMission products;


(b) our ability to develop a commercially marketable EnergyMission/Yellow Box product;


(c) our ability to raise additional capital necessary to implement our business strategy and plan of operation;


(d) our ability to compete with other existing technologies; and


(e) the success of any marketing and promotional campaign which we conduct for our products once development is complete.


Due to the uncertainty regarding our future revenues and profitability, we expect that the majority of additional financing that we obtain, if any, will likely be in the form of equity financing. Our management does not expect sufficient debt financing to be available to us at this stage of our business.

The financial statements accompanying this Annual Report contemplate our continuation as a going concern. However, we have not yet achieved profitable operations and we expect to continue to incur substantial losses in the foreseeable future as we continue to develop our business. As a result, our auditors stated in their report for our fiscal year ended September 30, 2006 that a substantial doubt exists as to our ability to continue as a going concern.

18


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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 are material to our stockholders.

CRITICAL ACCOUNTING POLICIES

We have identified certain accounting policies, described below, that are most important to the portrayal of our current financial condition and results of operations. Our significant accounting policies are disclosed in the notes to the audited financial statements included in this Annual Report.

Principles of Consolidation

The consolidated financial statements include the accounts of Aqua Society, Inc and our wholly owned subsidiary, Aqua GmbH, a German limited liability company. All inter-company transactions have been eliminated.

Foreign Currency Translation

Our functional currency is United States dollars. Our subsidiary, Aqua GmbH, uses the Euro as its functional currency. Accordingly, assets and liabilities of Aqua GmbH are translated into US dollars at the exchange rate in effect at the balance sheet date and capital accounts are translated at historical rates. Income statement accounts are translated at the average rates of exchange prevailing during the period. Translation adjustments arising from the use of differing exchange rates from period to period are included in the Accumulated Other Comprehensive Gain/(Loss) account in Stockholders’ Equity.

Transactions undertaken in currencies other than the functional currency of the entity are translated using the exchange rate in effect as of the transaction date. Any exchange gains and losses would be included in the Statement of Operations.

Patents, Patent Rights and Amortization

Patents and patent rights are recorded at cost. We provide for the amortization of patents and patent rights on the straight-line basis over their estimated economic lives, estimated to be 5 years. Amortization is recorded upon the patents being awarded.

RISKS AND UNCERTAINTIES

Need For Financing

We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability and we anticipate that we will continue to incur substantial losses in the foreseeable future. We are likely to continue to need substantial additional financing in order to implement our long term business plan. We currently do not have any financing arrangements in place and there is no assurance that we will be able to acquire sufficient financing on terms acceptable to us or at all. If financing is not available or obtainable, our ability to meet our financial obligations and pursue our plan of operation will be substantially limited and investors may lose a substantial portion or all of their investment

Limited Operating History, Risks Of A New Business Venture

We are still in the process of developing our business and we do not expect to achieve profitability in the near future. We have only recently begun to earn revenues. Readers are cautioned that our past results may not be indicative of future performance.

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Potential investors should be aware of the difficulties normally encountered by a new enterprise and the high rate of failure of such enterprises. The potential for future success must be considered in light of the problems, expenses, difficulties complications and delays encountered in connection with the development of a business in the area in which we intend to operate and in connection with the formation and commencement of operations of a new business in general. These include, but are not limited to, unanticipated problems relating to research and development programs, marketing, approvals by government agencies, competition and additional costs and expenses that may exceed current estimates. There is no history upon which to base any assumption as to the likelihood that we will prove successful, and there can be no assurance that we will ever achieve profitable operations.

If We Are Unable To Achieve Market Acceptance For Our Products, We Will Be Unable To Build Our Business

To date, we have completed technical development of our EnergyMission/Yellow Box, ThermoMobil and AquaMission products. However, we have only received a limited number of confirmed orders for these products. Our future success will depend upon the acceptance of our existing products, and other products that we develop, by the respective industries in which we intend to market those products. Achieving such acceptance will require significant investments in research and development and market development. Our technologies and products may not achieve widespread acceptance, which could limit our ability to develop and expand our business. The technologies upon which our products and services are based are relatively new and are evolving. Ac

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.133.787 von krofisch am 23.01.07 17:30:16

du mußt auf diese Pleiterklärung ja sehr stolz sein.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.133.737 von krofisch am 23.01.07 17:28:39

Auf den Zusammenhang deiner seltsamen Postings zu Aqua warte ich wohl wieder mal umsonst.

[Teddybear]

Antwort auf Beitrag Nr.: 27.134.998 von wohinistmeinGeld am 23.01.07 18:22:31

Du erwartest zuviel. Seine Aufgabe ist, den Thread vollzuspammen und damit unlesbar zu machen. Da ist ein zigmal kopierter katastrophaler, aber langer Jahresbericht genauso gut geeignet wie seine sonstigen immer wieder kopierten zusammenhangslosen Spamergüsse.

Verstehen oder gar vernünftige Antworten würde ihn überfordern und gehören nicht zu seinen Aufgaben.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.135.323 von Teddybear am 23.01.07 18:38:28

das ist schon klar, aber ich verstehe nicht warum er Std damit zu bringt völlig zusammenhangslose Beiträge aus branchenfremden Threads zu suchen.
Das ist doch noch sinnloser als das was er sonst so macht, das ginge doch auch mit weniger Zeitaufwand, z.B könnte er erzählen was sie heute im Kindergarten gemacht haben, oder was es zum Frühstück gab.

Vielleicht gibt es nach krofischchens Meinung einen Zusammenhang den ich entweder nicht verstehe oder die Schaltungen in dem Ding auf seinem Hals sind etwas durcheinander.

Daß es keine Erklärung dazu von ihm gibt ist schon klar. Er kennt wohl den Spruch:" Es gibt keine dummen Fragen, nur dumme Antworten." Und weil bei ihm nur dumme Antworten kommen können weil er es nicht anders kann lässt er sie lieber ganz weg.

[wohinistmeinGeld]

Da fällt mir ein.
Aus dem Bericht.

Im März bestellt und bis heute nicht fertig, das nenne ich mal ein engagiertes Unternehmen, und sowieso sind immer die anderen Schuld wenn was bei einem selbst nicht funktioniert.

Loick has informed us that they expect to complete the installation of this motor sometime in 2007. We have no control over Loick’s installation of this motor and, as a result, we can provide no assurances when construction of the unit ordered by Loick will begin. Once construction has begun, we expect that it will take us approximately 3 months to complete.

In addition, even if we are able to complete construction of the ordered unit, there are no assurances that, once installed, it will function as expected.

DAs ist doch zum schießen.
Wir bauen mal ein Flugzeug, verkaufen es, aber ob es dann auch fliegt wissen wir noch nicht.
Manoman, was für ein Dilettantenladen.

[wohinistmeinGeld]

Ach krofischchen,- ich hab da mal noch eine dumme Frage-, habt ihr eigentlich überhaupt schon was an Loick geliefert das sie einbauen könnten?

Schließlich habt ihr die YellowBox erst vor 3 Wochen vorgestellt

[Borealis]

Zwischen Hamm und Stamm scheint es auch etwas im Gebälk zu knirschen. Da wird wohl der "Haushalt" aufgeteilt.
Im vorigen Jahresbericht sind die von ihrer Water-Capital-Holding gehaltenen 80 Millionen Aqua-Aktien noch beiden gleichermaßen vollständig zugeordnet worden.
Im neuen Jahresbericht ist jetzt offensichtlich eine Aufteilung vorgenommen worden, 90% (72 Millionen) für Hamm und 10% (8 Millionen) für Stamm.

Ist eigentlich "Rob Who?" noch da, oder hat er auch schon wieder fertig.

Und wenn sich Aqua beeilt, könnten sie sogar noch an der TerraTec oder enertec teilnehmen. Da findet man eher Kunden als bei Klitschko am Boxring.
http://www.terratec-leipzig.de/
Vorausgesetzt Aqua hat etwas zum ausstellen. Aber Aqua hat ja nichts außer einer Friemelfromsanlage im Keller und einem bunt bemalten Ford in Holland und einer kaputten Wassermaschine am Golf.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.137.233 von Borealis am 23.01.07 20:22:19

dieses Kellergestell ist wenigstens klein genug um sie in der Handtasche zu einer Ausstellung mitzunehmen.

[Keatanu]

Antwort auf Beitrag Nr.: 27.133.737 von krofisch am 23.01.07 17:28:39

Wer ein Hirn wie eine Fisch hat, schafft es noch nicht einmal wie ein Hund zu bellen. krofisch, Du bist doch wirklich eine arme S..!

Trotz alledem, ohne Dich wäre die Welt ein Stück langweiliger.

Leider wird es bald vorbei sein mit den AQUA-Lügen, und dann werden wir vernutlich auch Dich hier vermissen.

[westfale64]

Aus Aquas aktuellem Quartalsbericht:

"Of the $2,377,099 in loans payable as of our fiscal year end of September 30, 2006, $1,441,507 is due to Stamm & Lang"

1,4 Mio. schiebt Aqua an den eigenen Vorstand Stamm.
Wofür ?


Sind die Aqua-Aktionäre so dumm, dass sie dieses Spiel nicht durchschauen ?

[westfale64]

#4540: Die ganze Aqua-Aktionärsverdummung


Zur Erinnerung, da es schon wieder 5 Seiten nach hinten gerutscht ist:

Aus Aquas aktuellem Quartalsbericht:

„Although we have received orders for our Thermomobile, Aquamission and Yellow Box products, we have not yet earned any revenues from the sale of those products“

Den Aqua –Schrott konnte Hamm also noch nie verkaufen. Und in der Zukunft will Aqua sich auch gar nicht mehr mit diesem Wasser-aus-Luft-Quatsch befassen, wie sie selbst schreiben:

„With respect to our Aquamission product, we had previously been working to upgrade the taste of the water produced by the Aquamission to “mineral water” quality. However, we have re-assessed this project and we no longer intend to proceed with this development.“




Und hier die katastrophalen Zahlen dieser 8-Mann-Bude aus dem aktuellen Quartalsbericht, die die Pusher so gern verschweigen:

„Net Loss : 2005: $ 23,982,914
2006: $ 3,842,485
„However, we have not yet achieved profitable operations, have accumulated losses of $29,892,239 since our inception and we expect to continue to incur substantial losses in the foreseeable Future as we continue to develop our business. As a result, our auditors stated in their report for our fiscal year ended September 30, 2005 that a substantial doubt exists as to our ability to continue as a going concern.“
„Working Capital Defizit 2006: $ 1,354,326“

29 Mio. Gesamtverlust und 1,3 Mio. Fehlkapital. Und wohin das Aktionärsgeld neben den „Berater“-Zahlungen geflossen ist schreibt Aqua auch –nämlich mittels „management fees“an die eigenen(!)Vorstände Hamm und Stamm:

„We incurred management fees of $640,939 during the nine months ended June 30, 2006. The majority of these fees were for amounts charged under a management consulting contract with Stamm & Lang Rechtsanwalte, a German law firm of which Achim Stamm, our former Chief Financial Officer, Secretary, Treasurer and a former director, is a partner. Also included in management fees are amounts charged under a management consulting contract with Hubert Hamm, a managing director of Aqua GmbH, and the lead consultant for research and development for Aqua GmbH’s HVAC&R department.“

Und die Insolvenz hat Aqua auch gleich angekündigt -aber nicht auf der Homepage, sondern in den Quartalsberichten. Die lesen die Lemminge ja nicht, sonst wüssten sie was hier gespielt wird:

„a substantial doubt exists as to our ability to continue as a going concern.“






Abzocke vom Feinsten. Und die Aqua-Aktionäre haben nichts kapiert. Deshalb wird mit dem 3. Anlegermärchen „Energymission“ und krofischs Bastelbudenfotos aus Hamms Keller gleich wieder Anlegergeld eingesammelt, damit die Aqua-Gründer auch in der Zukunft wieder diese Anlegergelder in Form von „Berater“-Provisionen und „management fees“ einsacken können.
Und –wie schon beim unverkäuflichen „Aquamission“- gibt es von Aqua auch die passende Erklärung dieser tollen Technik, die seit 1 Jahr auch wieder keiner kauft:




Mit Übersetzung:


„Aus heißer Luft wird Strom“(Aus Aquas heisser Luft werden nur Aktionärsgelder zum Verbraten generiert)

„Aqua Society GmbH hat ein Verfahren entwickelt, bei dem aus Abwärme im niedrigen Temperaturbereich Strom erzeugt werden kann“Das ist zwar eine 100 Jahre alte Technik, aber die Aqua-Lemminge haben sich den Kondensationsprozess bei „Aquamission“ auch als tolle Erfindung andrehen lassen.

„Das Hertener Unternehmen hat zum einen Geräte entwickelt, mit denen Trinkwasser aus der Luft gewonnen werden kann. "Die Technologie ist fertig und wird 2007 in den Markt eingeführt"
Mit „Hertener Unternehmen“ ost wohl die OTC-Bude Aqua-Society inc. gemeint bei der die Aktionärsgelder versickern. Praktisch, da diese Abzocktruppe im fernen Amerika nicht so einfach verklagt werden kann.Das Wasser-aus-Luft-Fliwatüt hat Hamm seit 2002 fertig und kriegt es seitdem nicht verkauft.

„Denn eine Studie des Fraunhofer Instituts im Auftrag der Aqua Society hat ergeben, dass weltweit Wärme "weggeschmissen wird"
Und genau wie bei Aquas Wasser-aus-Luft-Märchen „Aquamission“ wirbt Hamm wieder mit einem Fraunhofer-Gutachten ohne zu erwähnen, dass das Fraunhofer –Institut keine der Aqua-„Erfindungen“ begutachtet hat. Aber zum Aktienverticken bei den Dummen ist der Spruch zu gebrauchen. Und nur darum geht es .



„Jetzt steht das Hertener Unternehmen in Verhandlungen mit einem großen Energieversorger und einem Aluminiumwerk. Hamm: "Die Langzeitversuche sind gelaufen, jetzt starten wir Pilotprojekte."
Verhandelt wird bei Aqua seit Jahren und „Pilotprojekte“, „Probebetriebe“ u.ä. kennen wir schon von den anderen Lemmingmärchen . Gekauft hat aber noch niemand (s.o.)

[krofisch]

Antwort auf Beitrag Nr.: 27.149.881 von westfale64 am 24.01.07 13:52:08

Und hier das Original:

http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

10KSB 1 form10ksb.htm
--------------------------------------------------------------------------------

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-KSB

(Mark One)

[X] Annual Report Under Section 13 Or 15(d) Of The Securities Exchange Act Of 1934

For the fiscal year ended September 30, 2006

[ ] Transition Report Under Section 13 Or 15(d) Of The Securities Exchange Act Of 1934

For the transition period from _____ to _____

COMMISSION FILE NUMBER: 000-50163

AQUA SOCIETY, INC.
(Name of small business issuer in its charter)

NEVADA 52-2357931
(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)

Konrad - Adenauer Strasse 9-13
45699 Herten, Germany
(Address of principal executive offices)

011-49-6031-791-760
Issuer’s telephone number

Securities registered under Section 12(b) of the Exchange Act: NONE.

Securities registered under Section 12(g) of the Exchange Act: Common Stock, $0.001 Par Value Per
Share.

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 [X] No [ ]

Check if there is no disclosure of delinquent filers in response to Item 405 of Regulation S-B contained in this
form, and no disclosure will be contained, to the best of registrant’s knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-KSB or any amendment to this
Form 10-KSB. [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange
Act). Yes [ ] No [X]

State issuer’s revenues for its most recent fiscal year. $2,203,763

State the aggregate market value of the voting and non-voting common equity held by non-affiliates
computed by reference to the price at which the common equity was sold, or the average bid and asked price
of such common equity, as of a specified date within the past 60 days. (See definition of affiliate in Rule 12b-2
of the Exchange Act.): $13,922,480 based on a price of $0.37 being the average of the closing bid and
ask price of the Company’s common stock as of September 29, 2006.

State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest
practicable date. 118,178,323 Shares of Common Stock as of January 8, 2007.

Transitional Small Business Disclosure Format (check one): Yes [ ] No [X]


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.

ANNUAL REPORT ON FORM 10-KSB
FOR THE YEAR ENDED SEPTEMBER 30, 2006

INDEX

PAGE

PART I 3

ITEM 1. Description of Business. 3
ITEM 2. Description of Property. 12
ITEM 3. Legal Proceedings. 12
ITEM 4. Submission of Matters to a Vote of Security Holders. 12

PART II 13

ITEM 5. Market for Common Equity and Related Stockholder Matters. 13
ITEM 6. Management’s Discussion and Analysis or Plan of Operation. 14
ITEM 7. Financial Statements. 19
ITEM 8. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. 24
ITEM 8A. Controls and Procedures. 24
ITEM 8B. Other Information. 24

PART III 26

ITEM 9. Directors, Executive Officers, Promoters, Control Persons and Corporate Governance; Compliance with Section 16(A) of the Exchange Act. 26
ITEM 10. Executive Compensation. 28
ITEM 11. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 30
ITEM 12. Certain Relationships and Related Transactions, and Director Independence. 34
ITEM 13. Exhibits. 35
ITEM 14. Principal and Accountant Fees and Services. 37

SIGNATURES 38

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PART I

Certain statements contained in this Annual Report on Form 10-KSB constitute “forward-looking statements.” These statements, identified by words such as “plan,” “anticipate,” “believe,” “estimate,” “should,” “expect,” and similar expressions include our expectations and objectives regarding our future financial position, operating results and business strategy. These statements reflect the current views of management with respect to future events and are subject to risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from those described in the forward-looking statements. Such risks and uncertainties include those set forth under the caption “Management’s Discussion and Analysis or Plan of Operation” and elsewhere in this Annual Report. We advise you to carefully review the reports and documents we file from time to time with the Securities and Exchange Commission (the “SEC”), particularly our Quarterly Reports on Form 10-QSB and our Current Reports on Form 8-K.

As used in this Annual Report, the terms “we,” “us,” “our,” “Aqua Society,” and the “Company” mean Aqua Society, Inc. and its subsidiaries, unless otherwise indicated. All dollar amounts in this Annual Report are expressed in U.S. dollars, unless otherwise indicated.

ITEM 1. DESCRIPTION OF BUSINESS.

CORPORATE BACKGROUND

We were incorporated under the laws of the State of Nevada on March 2, 2000, under the name “V G Tech, Inc.”

On September 22, 2004, we completed the acquisition of Aqua Society GmbH (“Aqua GmbH”). Prior to our acquisition of Aqua GmbH, we were in the business of providing services in the areas of digital graphics and special effects. Upon completing the acquisition of Aqua GmbH, we abandoned this digital imaging business. We are now in the business of designing and developing applied technologies, and providing consulting services, in the areas of heating, ventilation, air conditioning, refrigeration, water purification, waste water treatment, and, our latest business segment, energy (collectively, the “Aqua Business”).

Effective December 27, 2004, we changed our name to “Aqua Society, Inc.” to better reflect the nature of our current business operations

Acquisition of Aqua GmbH

On September 22, 2004, we completed the acquisition of a 100% interest in Aqua GmbH from its sole stockholder, Water-Capital-Holding Ltd. (“Water”).

We acquired our 100% ownership interest in Aqua GmbH from Water in exchange for:

(a) the issuance of 10,000,000 shares of our common stock;


(b) the issuance of special warrants (the “Special Warrants”) to acquire 34,000,000 shares of our common stock; and


(c) the transfer to Water of 36,000,000 shares of our common stock owned by Steve Livingston, our former President, Secretary, Treasurer and Director, being all of the shares of our common stock owned by Mr. Livingston.


The Special Warrants entitled the holder to acquire one additional share of our common stock for each special warrant held, without the payment of any additional consideration. Under the terms of the Special Warrants, they could not be exercised until we had authorized capital of at least 200,000,000 shares of common stock (the “Triggering Event”). On December 6, 2004, we amended our Articles of Incorporation to increase our authorized capital to 300,000,000 shares of common stock. Upon effective filing of our Certificate of Amendment increasing our authorized capital to 300,000,000 shares of common stock, Water exercised the Special Warrants and we issued to them an additional 34,000,000 shares of our common

3


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stock. Pursuant to the terms of the Special Warrants, these shares were issued to Water without the payment of any additional consideration.

Under generally accepted accounting principles, our acquisition of Aqua GmbH has been accounted for as a reverse acquisition. As such, Aqua GmbH has been treated as the acquiring entity for accounting and financial reporting purposes. See Item 6, “Critical Accounting Policies.” As such, the financial statements attached to this Annual Report are presented as a continuation of the operations of Aqua GmbH, which was incorporated on May 13, 2004, and not our predecessor V G Tech, Inc.

Aqua Society GmbH

Aqua GmbH was founded as limited liability corporation (a Gesellschaft mit beschraenkter Haftung) under the federal laws of Germany on May 13, 2004. Prior to its acquisition by us, Aqua GmbH was primarily engaged in organizational activities and had earned no revenues to that point.

Aqua GmbH was formed for the purpose of developing commercial applications for its three core technologies (collectively, the “Aqua Technologies”). These Aqua Technologies have been used to develop the AquaMission, ThermoMobil and waste heat power generator products described below (collectively, the “Aqua Products”).

RECENT CORPORATE DEVELOPMENTS

The following significant corporate developments have occurred since the end of our September 30, 2005 fiscal year:

1. In February, 2006, we entered into an agreement with Sportfive GmbH & Co. KG, a sports management company representing heavyweight boxer, Wladamir Klitschko, to act as a sponsor of the heavyweight title fight between Mr. Klitschko and Chris Byrd. The fight took place on April 22, 2006 at the SAP Arena in Mannheim, Germany. Pursuant to our agreement with Sportfive, our logo appeared at various places around the ring and on various merchandise related to the fight, including the floor and the four corners of the ring, the press kit, and a full page inclusion in the official magazine for the fight. In consideration for these rights, we agreed to pay Sportfive EUR 175,000 (approximately $211,000) and related production costs of approximately EUR 64,000 (approximately $77,000), with VAT of 16% payable on both.


2. In February, 2006, we completed a private placement with two corporate investors of 1,160,960 units at a price of $1.04 per unit for total proceeds of $1,207,398 (approximately EUR 1,000,000). Each unit was comprised of one share of the Company’s common stock and one share purchase warrant. Each share purchase warrant entitles the holder to purchase one additional share of the Company’s common stock at a price of $1.30 per share for a period of two years from the date of closing. This private placement was completed pursuant to the provisions of Regulation S promulgated under the Securities Act of 1933. We did not engage in a distribution of this offering in the United States. Each of the investors has represented that they were not US persons as defined in Regulation S, and have provided representations indicating that they were acquiring our securities for investment purposes only and not with a view towards distribution. No underwriting discounts or commissions were involved.


3. In March, 2006, we received an order from Loick AG for a waste heat power generation system based on our Yellow Box product. Loick is a company based in Dorsten, Germany, that specializes in the development and production of renewable resource products such as bioplastics and biogas energy systems. The ordered unit is to be used to generate electricity from the waste heat generated by one of Loick’s existing biogas power generators. The biogas systems produced by Loick are used to supply electricity to the public grid in Germany.


The unit ordered by Loick is to be customized to the particular biogas generator to which it will be installed. Loick is currently installing a new motor onto the biogas generator. As such, the design and construction of the ordered waste heat power generation system is being delayed until Loick has


4


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completed the installation of the new motor. As of the date we filed this Annual Report, Loick had still not finished installing the motor. Loick has informed us that they expect to complete the installation of this motor sometime in 2007. We have no control over Loick’s installation of this motor and, as a result, we can provide no assurances when construction of the unit ordered by Loick will begin. Once construction has begun, we expect that it will take us approximately 3 months to complete.


4. In April, 2006, we announced that we had formed a joint venture with Loick AG and ODAS OHG, a company based in Dorsten, Germany, that specializes in the supply of plant based biomass raw materials. The joint venture entity, known as TMR GmbH, was originally formed to develop, build, distribute and manage renewable energy facilities. Subsequent to our September 30, 2006 fiscal year end, it was determined that we would not proceed with the TMR joint venture and, in December, 2006, we sold our interest in TMR to Loick for EUR 1.00.


5. In April, 2006, we announced that we had received an order from More Power Energie GmbH (“MPE”). MPE ordered a combined heat and power plant that is to be used to convert the waste heat from a biogas power plant into electricity. MPE intends to connect the ordered unit to a biogas power plant owned by a third party operator.


Specifications for the ordered unit were delivered by MPE during our 2006 fiscal year and construction is currently in progress. Construction was originally expected to take us approximately 3 months to complete, however we are still working with MPE to optimize the ordered unit and the plant in accordance with their specifications. We expect to complete construction and delivery of the ordered unit in 2007. However, there are no assurances that we will be able to complete the construction of this unit within the time frame estimated. In addition, even if we are able to complete construction of the ordered unit, there are no assurances that, once installed, it will function as expected.


6. In April, 2006, we announced that we had received an order to install AquaMission combined air-conditioning and drinking water supply systems to a residential complex to be constructed in Hyderabad, India by North East Developers and Real Estates (“North East Developers”). The AquaMissions to be supplied are also to be fitted with our EnergyMission / Yellow Box products. Schematics of the residential complex have not been finalized and construction of the complex has not yet begun. North East Developers has tentatively scheduled construction to begin in January, 2007. Based on this timetable, we do not expect to be able to begin designing and constructing the ordered units until at least the Summer of 2007. However, we have no control over the construction of the residential complex and we cannot begin building the units to be supplied to North East Developers until construction has begun and they have delivered the necessary schematics to us. There can be no assurances with respect to when we will receive the necessary schematics or that the actual units to be delivered will be those set out in the order. In addition, payment will be dependent upon the successful installation of the units ordered. There are no assurances that we will be able to successfully install the ordered units, or that, once installed, those units will function as expected.


7. We completed a private placement with a corporate investor for 1,245,375 units at a price of $0.88 per unit for total proceeds of $1,095,930 (approximately EUR 900,000). Each unit was comprised of one share of our common stock and one share purchase warrant. Each share purchase warrant entitles the holder to purchase one additional share of our common stock at a price of $1.10 per share for a period of two years from the date of closing. We had previously announced in February, 2006 that this private placement had been negotiated for 1,044,863 units at a subscription price of $1.04 per unit, with a share purchase warrant exercise price of $1.30 per share. The terms of this private placement were revised in order to reflect changes to the market price of our common stock and changes in foreign exchange rates. The subscribed for units were issued effective June 8, 2006 pursuant to the provisions of Regulation S on the basis that the offering does not involve a distribution in the United States and that the investor is not a U.S. person as defined in Regulation S. No underwriting discounts or commissions were involved.


8. In December, 2005, we had installed a ThermoMobil unit onto a Ford Transit to be used for marketing purposes. We had been working with a Ford dealership in Dusseldorf, Germany to market the ThermoMobil/Ford Transit in an effort to generate commercial sales of the ThermoMobil.


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However, we were unable to reach an agreement with the Ford dealership on a consumer price for the unit. As such, we are no longer pursuing our co-operative efforts with the Ford dealership. We now intend to use the ThermoMobil/Ford Transit unit as part of our marketing efforts in the Benelux countries (Belgium, the Netherlands and Luxembourg).


9. In June, 2006, we sold a 13.1% interest in UFI-TEC GmbH for proceeds of EUR 10,072 (approximately $12,237). As a result we now own only 19.9% of UFI-TEC.


10. On September 30, 2006 we entered into an exclusive patent license agreement with Ecoenergy Patent GmbH. Under the terms of the license agreement, we obtained exclusive rights to manufacture, use and distribute products based on certain patent pending technologies. See “Intellectual Property Rights,” below.


11. After the completion of our 2006 fiscal year, we completed the construction of a demonstration prototype of our EnergyMission / Yellow Box technology. A media event to showcase this demonstration model was held at our facilities on December 21, 2006. This demonstration unit will be used by us for marketing and demonstration purposes as well as for research and development.


12. On December 21, 2006, our Board of Directors approved and adopted our 2006 Stock Option Plan (the “2006 Option Plan”). Under the 2006 Option Plan, options may be granted for a maximum of 7,000,000 shares of our common stock. The maximum number of shares that may be optioned under the 2006 Option Plan will increase each fiscal quarter, beginning with the fiscal quarter commencing April 1, 2007, by an amount equal to 15% of the total increase in the number of shares of common stock outstanding or such lesser amount as may be determined by our Board of Directors.


A summary of our 2006 Option Plan is set forth in our Current Report on Form 8-K filed with the SEC on December 29, 2006. The full text of the 2006 Option Plan is attached as Exhibit 10.1 to our Current Report on Form 8-K filed with the SEC on December 29, 2006, and is incorporated by reference herein.


13. Also on December 21, 2006, our Board of Directors approved the grant of options under the 2006 Option Plan for 2,500,000 shares of our common stock at an exercise price of $0.40 per share to Mr. Terberg and options to purchase an aggregate of 2,000,000 shares of our commons stock to Mr. van der Zee, also at a price of $0.40. The options granted to each of Mr. Terberg and Mr. van der Zee vest in equal quarterly instalments, commencing on April 1, 2007 and expiring 2 years after the applicable vesting date. See Part III, Item 10 “Executive Compensation – Director Compensation Arrangements.”


Changes to the Board of Directors and Executive Officers

In addition to the above corporate developments, there have been a number of changes to our Board of Directors and executive officers since the end of our 2005 fiscal year.

Effective December 13, 2005, Petrus Lodestijn replaced Achim Stamm as our Chief Executive Officer and President. Mr. Stamm continued to act as our Chief Financial Officer, Treasurer and Secretary and continued to act on our Board of Directors until March 22, 2006, when Mr. Lodestijn replaced Mr. Stamm in those capacities as well.

Effective on October 31, 2006, Robert Terberg replaced Mr. Lodestijn as our Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary and also as a member of our Board of Directors. Also effective on October 31, 2006, our Board of Directors was expanded by the appointment of Hubert Hamm as a director of the Company and by the appointment of Hugo van der Zee as the Chairman of the Company’s Board of Directors.

Biographical information for each of Mr. Terberg, Mr. Hamm and Mr. van der Zee is provided at Part II, Item 9 “Directors, Executive Officers, Promoters, Control Persons and Corporate Governance; Compliance with Section 16(A) of the Exchange Act.“

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BUSINESS SEGMENTS

Heating, Ventilation, Air Conditioning & Refrigeration (“HVAC&R”)

Our core competency in the areas of HVAC&R lies in our ability to optimize refrigeration technologies by maximizing cooling capacity and minimizing machinery size and energy consumption. Our HVAC&R department has more than 20 years of experience in R&D, construction, maintenance and the optimization of large-scale refrigeration plants for use in major industrial projects such as mining and tunnel construction.

As a result, our team of experts is able to provide HVAC&R solutions for almost industrial system and can advise and guide our clients on all of their needs, including the evaluation or improvement of existing facilities, the sourcing and supply of HVAC&R equipment and the construction and maintenance of HVAC&R facilities.

In addition to providing consulting services in this area, we have also developed our ThermoMobil product. The ThermoMobil is a multi-purpose, self-contained, mobile refrigeration and/or heating unit designed to be loaded and transported onto a variety of large or small transport vehicles. The product is designed to allow users to convert ordinary transportation vehicles into refrigerated and/or heated transports. The refrigeration/heating unit itself can be loaded or unloaded from the transport vehicle and is capable of utilizing either 12 volt (automobile) or 230 volt (household) electricity to power its refrigeration/heating systems. This allows users to load and unload cargo without interrupting the refrigeration or heating chain. In addition, the ThermoMobil does not require extensive modification to the transportation vehicle itself, allowing it to still be used as a non-refrigerated/heated transport while the refrigeration/heating unit is being used to provide temporary storage.

Water Production and Purification

The efficient and sustainable utilization of the world's water resources requires the extraction of water from sources which are replenished by nature in a short time and the multiple use of water extracted. In this sector, our focus is to produce, purify and recycle potable water through the use of membrane and vacuum technologies. Our water experts have 20 years of experience in successfully designing, constructing and maintaining various water purification, water recycling and waste water treatment plants not only for research and development facilities of different German universities but also for industrial production plants, hospitals and military institutions in different parts of the world. Our team has particular expertise in using membrane and vacuum technologies to design, construct and maintain water purification, water recycling and waste water treatment systems.

In addition to providing services in the areas of water purification and water treatment, we have developed a water production unit that we call the AquaMission. The AquaMission utilizes a patented process to extract water from ambient air. At a temperature of 23°C (73°F) and humidity of 75%, the atmosphere contains about 16g of water per kg of air (approximately 0.56 oz. for every 2.2 lbs. of air). By cooling the air down to 10°C (50°F), approximately 8g (approximately 0.28 oz.) of condensed water can be produced. Air is supplied to a refrigerated surface contained within the unit which then causes water in the air to condensate. The collected water is then passed through a treatment filter for purification. The result is potable water which meets the standards established by the World Health Organization’s Guidelines for Drinking-Water Quality. We have built and tested prototypes of various sizes for the AquaMission. The smallest prototype, approximately 40cm x 40cm x 60cm (1.3 ft. x 1.3 ft. x 2.0 ft.) in size, is, depending on humidity and temperature, capable of producing up to 24L (approximately 6.3 gal.) of drinking quality water per day. The largest prototype, approximately 240 cm x 600 cm x 240 cm (8 ft. x 20ft x 8 ft.) in size, is, depending on humidity and temperature, capable of producing up to 6,000L (approximately 1,585 gal.) of drinking quality water per day.

Energy

Waste heat in the low-temperature range represents a widely unused potential energy source. According to a current market study on unused waste heat commissioned by us, in Germany alone, there is approximately 85,000 megawatts (MW) of potentially exploitable waste heat energy in the 80°C to 260°C temperature range generated by industrial sources. Worldwide, the targeted use of low-temperature waste heat to generate

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electricity could make a significant contribution to the conservation of fossil fuel resources and the reduction of carbon dioxide emissions.

We have currently developed a product, known as the EnergyMission or “Yellow Box” that is capable of converting waste heat at temperatures as low as 100°C (212°F) into usable electricity. Originally developed as a means of optimizing the performance of cooling systems, we have adapted this technology for use with refrigeration and air conditioning units as well as for use with our AquaMission and ThermoMobil products, increasing the overall energy efficiency of those units. In addition, we are currently working to adapt this technology for use on biogas electrical generators. Construction of a prototype of the EnergyMission was completed shortly after our 2006 fiscal year end.

INTELLECTUAL PROPERTY RIGHTS

We own the rights to the following patented technologies:

Patent Number Name
German Patent No. 101 29 047.0 Fully sintered heat exchangers in all possible geometric forms for all application purposes

German Patent No. DE 102 23 578 A1 Device for recovering used water

International Patent No. WO 01/753181 A3 and WO 01/753181 A2 Transportable cool box system technology


In addition, we have licensed from Ecoenergy Patent GmbH (“Ecoenergy”) exclusive rights (the “License Rights”) to manufacture, use and distribute products based on the following patent pending technologies (the “Ecoenergy Technologies”):

Patent Number Name
International Patent Application No. 2005/061858 Method for converting heat energy into mechanical energy with a low-pressure expansion device.

International Patent Application No. 2005/066466 Method and system for converting heat energy into mechanical energy.

International Patent Application No. 2005/061973 Method and system for increasing the temperature of a vaporous working medium.

International Patent Application No. 2005/066465 Method and installation for converting heat energy from refrigerating machines.

International Patent Application No. 2005/078243 Method and installation for converting thermal energy from fluids into mechanical energy.

International Patent Application No. 2005/061857 Device and method for converting heat energy into mechanical energy.


Ecoenergy is owned by Hubert Hamm and Dr. Erwin Oser. Mr. Hamm has acted as the managing director of Aqua GmbH since its inception, is one of our key consultants and is also one of our principal stockholders. In addition, on October 31, 2006, Mr. Hamm was appointed to our Board of Directors. Dr. Oser has been a member of our Board of Directors since October 20, 2004 and is one of our key consultants in the area of energy optimization.

We were granted the License Rights in exchange for certain patent application costs related to the Ecoenergy Technologies that were paid for by us.

A summary of the material provisions of our license agreement with Ecoenergy is provided below. This summary does not, however, purport to be complete, and is qualified in its entirety by reference to the full text

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of our license agreement with Ecoenergy, a copy of which was attached as an exhibit to our Current Report on Form 8-K, filed with the SEC on October 6, 2006.

Scope of License Rights

The License Rights extend within the signatory countries to the European Patent Convention, the United States of America and India for a period of 15 years, unless terminated earlier in accordance with its provisions. The License Rights are exclusive and cover the manufacture, use and distribution of products based on the Ecoenergy Technologies within the following areas (collectively, the “Technical Applications”):

1. Energy recovery from the waste heat generated when drawing water from the atmosphere;

2. Energy recovery from the waste heat generated by refrigeration and air conditioning systems;

3. Energy recovery from the waste heat generated by block-type thermal power stations;

4. Energy recovery from the waste heat from industrial heat processes; and

5. Energy recovery from the waste heat of exhaust and sewage streams.


The prior written approval of Ecoenergy is required in order to sublicense any of the License Rights or to contract out the manufacture of products based on the Ecoenergy Technologies to third parties.

Annual Royalty and Patent Maintenance Fees

We are required to pay annual royalties to Ecoenergy as follows:

(a) 2% of annual sales revenues (without sales tax) earned by Aqua GmbH up to EUR 50,000,000 (approximately $63,428,000);


(b) 1.5% of the portion of annual sales revenues (without sales tax) in excess of EUR 50,000,000 (approximately $63,428,000) up to EUR 100,000,000 (approximately $125,856,000); and


(c) 1% of the portion of annual sales revenues (without sales tax) in excess of EUR 100,000,000 (approximately $125,856,000).


Any revenues earned from the sublicensing of the License Rights are to be included in annual sales revenues.

In addition to paying the annual royalty amounts to Ecoenergy, we are required to pay all costs and fees associated with maintaining the patent rights associated with the Ecoenergy Technologies. In particular, we are required to pay for any filing fees required to keep the patent and/or patent applications associated with the Ecoenergy Technologies in good standing with the relevant patent authorities within the License Territory and any associated attorneys’ fees.

Minimum Sales Requirements

In order to maintain our exclusive License Rights under the License Agreement, we are required generate minimum annual sales revenues for each Technical Application to which the License Rights apply. If we fail to meet the minimum annual sales requirements for any Technical Application for two consecutive years, the License Rights, as applied to that particular Technical Application, automatically become non-exclusive. If, after the License Rights become non-exclusive as a result of a failure to meet the minimum sales requirements, we again fail to meet the minimum annual sales requirements for two consecutive years, Ecoenergy may, at its option, terminate our non-exclusive License Rights for that particular Technical Application. In order to exercise its option to terminate, Ecoenergy must inform us of its intention to do so, in writing, within 4 weeks after receiving our statement of accounts relating to the total annual sales of products based on the Ecoenergy Technologies and, in no case, later than June 30th.

A failure to meet the minimum sales requirements for any particular Technical Application will not affect our License Rights for any other Technical Application.

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The minimum annual sales requirements for each Technical Application are as follows:

1. Energy recovery from the waste heat generated when drawing water from the atmosphere



Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 500,000 (approximately $635,000)
2008 EUR 750,000 (approximately $952,500)
2009 EUR 1,000,000 (approximately $1,270,000)
2010 to expiration EUR 2,000,000 (approximately $1,540,000)


2. Energy recovery from the waste heat generated by refrigeration and air conditioning systems



Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 500,000 (approximately $635,000)
2008 EUR 750,000 (approximately $952,500)
2009 EUR 900,000 (approximately $1,143,000)
2010 to expiration EUR 2,000,000 (approximately $1,540,000)


3. Energy recovery from the waste heat generated by block-type thermal power stations



Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 1,200,000 (approximately $1,524,000)
2008 EUR 1,500,000 (approximately $1,905,000)
2009 EUR 1,500,000 (approximately $1,905,000)
2010 to expiration EUR 3,000,000 (approximately $3,810,000)


4. Energy recovery from the waste heat from industrial heat processes



Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 400,000 (approximately $508,000)
2008 EUR 500,000 (approximately $635,000)
2009 EUR 800,000 (approximately $1,016,000)
2010 to expiration EUR 1,500,000 (approximately $1,905,000)


5. Energy recovery from the waste heat of exhaust and sewage streams



Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 400,000 (approximately $508,000)
2008 EUR 500,000 (approximately $635,000)
2009 EUR 800,000 (approximately $1,016,000)
2010 to expiration EUR 1,500,000 (approximately $1,905,000)

COMPETITIVE BUSINESS CONDITIONS

We are unaware of any products currently in existence that compete directly with our existing and proposed products. However, the markets for HVAC&R, water purification, waste water treatment, water supply and energy optimization services and technologies are, in general, extremely competitive.

Many of the existing services and technologies provided by others are more established and have gained wider acceptance in the marketplace. Many of these service and equipment providers will be more established and have greater technical, financial, marketing and sales resources than us. We believe that our ability to compete in this area will depend upon our ability to combine and optimize existing technologies

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and to develop novel, more efficient solutions to existing problems. However, there are no assurances that we will be able to effectively differentiate ourselves from our competitors.

RESEARCH AND DEVELOPMENT

During the past two fiscal years, we have spent approximately $2,829,267 on research and development activities. Although we have completed principal development of our technologies and products, we are still in the process of refining those technologies and products for commercial use. Subject to our ability to acquire additional financing, we hope to complete our research and development activities during our 2007 fiscal year.

GOVERNMENT AND ENVIRONMENTAL REGULATIONS

Although we are not aware of any specific government and environmental regulations applicable to our business operations, it is likely that our operations will be subject to extensive government regulations in the United States, Europe and elsewhere.

In order to sell our products, we may have to satisfy numerous mandatory procedures, regulations, and safety standards established by international, federal and state regulatory agencies. There can be no assurance that we can successfully comply with all present or future government regulations.

EMPLOYEES

We currently have eight full-time employees. In addition to these employees, we have retained the services of four consultants who are key to our business operations.

Hubert Hamm: Mr. Hamm is the inventor of the patented Aqua Technologies and is the lead consultant for research and development for Aqua GmbH’s HVAC&R Department. Mr. Hamm is a managing director of Aqua GmbH, and, since October 31, 2006, has acted as a member of our Board of Directors. Mr. Hamm is also one of our principal stockholders. See Part III, Item 11 “Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters”.

Mr. Hamm has over 20 years of experience in the research and development, construction, maintenance and optimization of large-scale refrigeration plants, primarily for applications in mining and tunnel construction. From 1986 to 2001, Mr. Hamm worked in various management positions at RAG (formerly Ruhrkohle AG), a multi-billion dollar international mining and energy company. Mr. Hamm was the head of RAG’s HVAC&R department from 1994 to 2001. Since 2001, Mr. Hamm has been the head of his own engineering consulting firm, specializing in the development of HVAC&R technologies.

Rolf Haake: Mr. Haake is the lead consultant for research and development for Aqua GmbH’s Water Purification Department.

Mr. Haake has over 30 years of experience in the areas of water purification and treatment. From 1972 until 1978, Mr. Haake was the director of the North Rhine/Westphalia sales office for Deutsche Ton- und Steinzeugwerke AG, involved in the planning and sales of water purification and waste water treatment plants and related environmental technologies. Since 1978, Mr. Haake has been involved in running a number of independent businesses responsible for the planning and construction of waste-water treatment facilities.

Dr. Erwin Oser: Dr. Oser is our lead consultant in charge of research and development for our Energy Technologies Department. Dr. Oser has been a member of our Board of Directors since October 20, 2004.

Since 1985, Dr. Oser has been the principal of Dr. Oser/Partner In Technik, a German based Management Consulting firm, that specializes in assisting their clients with the creation of efficient organization structures, product development and the introduction of new technologies. Dr. Oser received his Diploma in Physics and his Doctorate in Physical Chemistry from RWTH Aachen, in Germany. He also completed post graduate studies at RWTH Aachen where he obtained his certificate in Economics.

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ITEM 2. DESCRIPTION OF PROPERTY.

Our corporate headquarters is located at Konrad-Adenauer Strasse 9-13, 95699 Herten, Germany and consists of approximately 1,200 square meters. We rent this facility at a cost of approximately EUR 6,690 per month (approximately $8,500). We do not currently own or lease any additional land, buildings or office space.

ITEM 3. LEGAL PROCEEDINGS.

We are not a party to any material legal proceedings and, to our knowledge, no such proceedings are pending.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

None.

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PART II

ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS.

Market Information

Our shares are currently trading on the Over-The-Counter Bulletin Board (the “OTCBB”) under the symbol AQAS. The high and the low bid prices for our shares for the last two fiscal years of actual trading, as reported by the OTCBB were:

QUARTER
HIGH ($)
LOW ($)

1st Quarter 2005 $4.41 $1.30
2nd Quarter 2005 $2.95 $2.10
3rd Quarter 2005 $3.65 $1.50
4th Quarter 2005 $3.75 $1.72
1st Quarter 2006 $2.10 $1.18
2nd Quarter 2006 $1.50 $1.00
3rd Quarter 2006 $1.33 $0.47
4th Quarter 2006 $0.65 $0.25

The trades reflect inter-dealer prices, without retail mark-up, markdown or commission and may not represent actual transactions.

Holders Of Our Common Stock

As of September 30, 2006, we had 17 registered shareholders and 118,178,323 shares of our common stock issued and outstanding. In addition, we believe that there are a large number of stockholders who hold shares of our common stock on deposit with their brokers or investment bankers registered in the name of stock depositories.

Dividends

We have not declared any dividends on our stock since our inception. There are no dividend restrictions that limit our ability to pay dividends on our common stock in our Articles of Incorporation or Bylaws. Our governing statute, Chapter 78 – “Private Corporations” of the Nevada Revised Statutes (the “NRS”), does provide limitations on our ability to declare dividends. Section 78.288 of Chapter 78 of the NRS prohibits us from declaring dividends where, after giving effect to the distribution of the dividend:

(a) we would not be able to pay our debts as they become due in the usual course of business; or


(b) our total assets would be less than the sum of our total liabilities plus the amount that would be needed, if we were to be dissolved at the time of distribution, to satisfy the preferential rights upon dissolution of stockholders who may have preferential rights and whose preferential rights are superior to those receiving the distribution (except as otherwise specifically allowed by our Articles of Incorporation).


Recent Sales Of Unregistered Securities

All unregistered sales of our equity securities completed during our fiscal year ended September 30, 2006 have been previously reported in the Quarterly Reports on Form 10-QSB and Current Reports on Form 8-K that we filed during that period.

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ITEM 6. MANAGEMENT’S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

PLAN OF OPERATION

During the next twelve months, we will focus: (1) on the design and construction of products ordered from us; (2) on further developing the market for our products; and (3) on continuing to develop and improve our products. Specifically, our plan of operation for the next twelve months involves the following:

1. Design and Construction of Ordered Units: During the next twelve months, we will work on the design and construction of the waste heat power generation, AquaMission and ThermoMobil units for which we have received orders:


(a) With respect to the waste heat power generation unit ordered by Loick, we are currently waiting for Loick to provide us with specifications for the biogas generator to which the ordered unit is to be attached. Once we have received the necessary data from Loick, we expect that it will take us approximately three months to design and construct the ordered unit. As of the date of filing of this Annual Report, we had not yet received the necessary specifications. We expect to receive this data from Loick sometime before the Summer of 2007.


(b) We are currently working with MPE to optimize the waste heat power generation unit ordered by them. We expect to complete construction and delivery of the ordered unit in 2007. However, there are no assurances that we will be able to complete the construction of this unit within the time frame estimated. In addition, even if we are able to complete construction of the ordered unit, there are no assurances that, once installed, it will function as expected.


(c) We do not expect to begin designing or constructing the combined AquaMission and Yellow Box units ordered by North East Developers in Hyderabad, India until at least the Summer of 2007. North East Developers is still in the process of finalizing schematics and plans for the planned residential complex in Hyderabad, India, with construction tentatively scheduled to begin in January, 2007. However, we have no control over the construction of the planned residential complex and we can provide no assurances that construction on the residential complex will begin when scheduled or at all.


(d) In 2005, we received an order from Refrigeraciones Kal-Tec Espana S.L. (“Kal-Tec”) for one AquaMission unit. Delivery of this unit was originally scheduled for the Fall of 2005; however delivery has not yet been made. We are currently in discussions with Kal-Tec regarding the status of their order. However, because there have been significant and ongoing delays in the construction and delivery of the AquaMission unit ordered by Kal-Tec, there are no assurances that we will be able to complete construction of the ordered unit or that delivery of the unit will be accepted.


(e) We have an agreement with BS Technik GmbH (“BS Technik”) for the delivery of 15 ThermoMobil units of varying sizes. In August of 2005, we reported that BS Technik had agreed to allow us to delay delivery of the ThermoMobil units ordered by them. However, there have been significant and ongoing delays in the construction and delivery of the units ordered by BS Technik. As a result of these delays, there are no assurances that BS Technik will still accept delivery of the ordered ThermoMobil units. We are currently in discussions with BS Technik regarding the status of their order and are in negotiations with them to deliver newly developed and improved ThermoMobil units.


2. Market Development Activities: Over the next twelve months we intend to do the following in an effort continue developing a market for our products and services:


(a) We have completed the construction of a prototype EnergyMission / Yellow Box unit that we will use for marketing and demonstration purposes, as well as for ongoing research and development. The prototype unit will be used by us to demonstrate the effectiveness of our technology to trade media and industry representatives on an ongoing basis.


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(b) We are also in the process of setting up a wholly owned subsidiary in the Netherlands, through which we will seek to promote all of our products in the “Benelux” countries (Belgium, the Netherlands and Luxemberg). The office for this subsidiary will be located in Zevenaar, near Arnhem in the east of the Netherlands.


(c) We will continue to attempt to market the AquaMission combined air-conditioning and drinking water product in geographic locations with high ambient temperatures and relative humidity but without readily available sources of fresh water, such as the Persian Gulf and the Middle East. Three demonstration models of the AquaMission are currently on location in the Middle East. We are currently in the process of seeking new sales agents for our products in the Middle East.


We will continue to try and generate sales in the Middle East using these demonstration models. However we have no specific time frame for this and there are no assurances that we will be able to generate any sales in the Middle East or India.


In addition to these activities, we may also seek to increase brand awareness through various advertising activities and sponsorships.


3. Product Development Activities: During the next twelve months, we will also continue to work on further developing and improving our existing products in an effort to increase their marketability. As part of these efforts, we have developed and built a demonstration model of our Yellow Box technology.


We are also in the process of constructing a high-tech “climate room” that will allow us to simulate the world’s various humidity and temperature zones. This “climate room” will assist us in optimizing our AquaMission unit for different geographic locations.


We anticipate spending approximately $2,000,000 in pursuing our plan of operation over the next twelve months. As of September 30, 2006, the date of our most recently available financial statements, we had a working capital deficit of $2,059,410. As such, we do not have sufficient working capital to meet our expected needs over the next twelve months. Although we have recently begun to earn revenues, we have not yet earned a net profit and we do not expect to achieve profitability in the near future as we expect to continue to incur substantial product development, marketing and operating expenses. We are likely to continue to need substantial additional financing in order to implement our plan of operation. Our management expects that any additional financing that we obtain will likely be in the form of equity financing.

Our actual expenditures and business plan may differ from the one stated above. Our Board of Directors may decide not to pursue this plan. In addition, we may modify the plan based on available financing.

RESULTS OF OPERATIONS

Summary of Year End Results

Year Ended September 30
Percentage
2006 2005 Increase / (Decrease)
Revenue $2,203,763 $896,535 145.81%
Cost of Goods Sold (1,703,505) (791,302) 115.28%
General and Administrative Expenses (4,842,873) (25,892,791) (81.30)%
Interest Income 14,366 -- 100.00%
Net Loss $(4,328,249) $(25,787,558) (83.22)%

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Revenues

We have only recently begun to earn revenues from our operations and, as a result, we are unable to accurately forecast future revenues. Readers are cautioned that our past operating results may not be indicative of future performance.

The revenues that we earned during the year ended September 30, 2006 were earned from services that we provided and equipment sales in connection with HVAC&R and energy optimizing activities in respect of refrigerating plants used in mining and tunnelling activities.

Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products, and there are no assurances that we will be able earn such revenues in the future.

Expenses

The major components of our operating expenses are outlined in the table below:

Year Ended September 30
Percentage
2006 2005 Increase / (Decrease)
Accounting and audit fees $293,158 $154,626 89.59%
Advertising and promotion 547,324 193,299 183.15%
Amortization 49,926 15,473 222.67%
Bad debts 150,596 33,398 350.91%
Bank charges and interest 3,148 619 408.56%
Consulting fees 293,115 250,518 17.00%
Development costs 1,458,016 1,371,251 6.33%
Filing fees 3,541 7,554 (53.12)%
Foreign exchange (gain) loss (226,479) -- (100.00)%
Interest 152,210 29,271 420.00%
Legal fees 155,365 103,398 50.26%
Management fees 716,231 527,976 35.66%
Office and miscellaneous 214,049 197,567 8.34%
Rent 132,606 117,222 13.12%
Salaries and benefits 520,183 197,006 164.04%
Stock-based compensation -- 22,480,000 (100.00)%
Transfer agent 1,736 6,400 (72.88)%
Travel 167,645 107,511 55.93%
Write Down of Patents (9,298) -- (100.00)%
Write Down of Inventory (49,899) -- (100.00)%
Write Down of Investment and Loan (151,306) (99,702) 51.76%
Total General and Administrative Expenses $4,842,873 $25,892,791 (81.30)%

During the year ended September 30, 2005, we recorded as stock-based compensation, expenses of $22,480,000 on account of options granted during our 2005 fiscal year pursuant to our 2004 Stock Incentive Plan. We did not grant any options or other stock-based compensation during our 2006 fiscal year and, as such, recorded no stock-based compensation expenses during that period. Less stock based compensation,

16


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our general and administrative expenses for the year ended September 30, 2005 totaled $3,412,791, being $1,430,082 less than our total general and administrative expenses for the year ended September 30, 2006.

The majority of our individual expense items increased significantly when compared to the same period in 2005. These increases are largely a result of our increased operations. We expect that our operating activities will continue to increase over the course of the current fiscal year as we expect to aggressively pursue the marketing of our products and technologies. In addition, we expect that we will continue our ongoing research and development activities.

The largest component of our expenses for the year ended September 30, 2006 were development costs incurred in connection with our ongoing research and development activities. Included in development costs for the year ended September 30, 2006 was $486,434 charged to us by Dr. Erwin Oser, one of our directors. These amounts were incurred by the director while conducting research and development work on our products and technologies, and were reimbursed by us.

Our advertising and promotion expenses have also increased significantly over the amounts spent during the year ended September 30, 2005. We expect our advertising and promotion expenses to continue to increase in the foreseeable future as we intend to concentrate more on marketing our business, products and technologies.

We incurred management fees of $716,231 during the year ended September 30, 2006. Of this amount, $147,529 were paid to Stamm & Lang Rechtsanwalte, a German law firm of which Achim Stamm, our former Chief Financial Officer, Secretary, Treasurer and a former director, is a partner, pursuant to a management consulting contract. An additional $173,140 was paid to Stamm & Lang in lieu of notice upon termination of our agreement with them in February, 2006. Also included in management fees are amounts charged under a management consulting contract with Hubert Hamm, a managing director of Aqua GmbH, and the lead consultant for research and development for Aqua GmbH’s HVAC&R department.

We recognized bad debt expenses in the amount of $150,596 during the year ended September 30, 2006, relating to amounts owing for services and products supplied by us. We also wrote down loans receivable of $66,094 from UFI-TEC GmbH, a company in which we currently own a 19.9% interest.

LIQUIDITY AND FINANCIAL CONDITION

Working Capital

Percentage
At September 30, 2006 At September 30, 2005 Increase / (Decrease)
Current Assets $854,960 $1,840,049 (53.54)%
Current Liabilities (2,914,370) (386,975) 653.12%
Working Capital (Deficit) $(2,059,410) $1,453,074 (241.73)%

Included in current liabilities are a total of $1,441,507 payable to a law firm of which, Achim Stamm, one of our former officers and directors, is a partner. We are currently in negotiations with Mr. Stamm for the settlement of the amounts owed to him and his law firm.

Cash Flows

Year Ended Year Ended
September 30, 2006 September 30, 2005
Cash Flows used in Operating Activities $(3,391,147) $(4,113,488)
Cash Flows used in Investing Activities (121,678) (443,408)
Cash Flows from Financing Activities 3,203,743 5,127,314
Effects of Exchange Rates (162,435) 81,818
Net Increase (Decrease) in Cash During Period $(471,517) $652,236

17


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Financing during the year ended September 30, 2006 was obtained from the sale of shares of our common stock and short-term loans. During the year ended September 30, 2006, we obtained $2,303,328 in financing from the sale of shares of our common stock in private placement transactions and net loans payable of $900,415.

Of the $2,377,099 in loans payable as of our fiscal year end of September 30, 2006, $1,441,507 is due to Stamm & Lang. Of the amounts due to Stamm & Lang, $697,832 bears interest at a rate of 7.5% per annum, is secured by accounts receivable and was due on December 31, 2006. The remaining $743,675 payable to Stamm & Lang is non-interest bearing, is secured by accounts receivable and was also due on December 31, 2006. The remaining loans payable as of September 30, 2006 were obtained from private persons and consisted of the following amounts:

(a) $185,989, bearing interest at a rate of 7.5% per annum, secured by accounts receivable and payable by December 31, 2006;


(b) $115,326, bearing interest at a rate of 7.5% per annum, unsecured and payable on or before December 31, 2006; and


(c) $634,276, without interest, unsecured and payable on demand.


As at September 30, 2006 we had cash in the amount of $187,432 and a working capital deficit of $2,059,410. We anticipate spending approximately $2,000,000 over the next 12 months in pursuing our plan of operation. We will require substantial additional financing in the next few months in order to pursue our current plan of operation.

Although we have recently begun to earn revenues, we have not yet achieved profitability. We anticipate that we will continue to incur losses for the foreseeable future, as we expect to incur substantial product development, marketing and operating expenses in implementing our plan of operation. Our future financial results are uncertain due to a number of factors, many of which are outside of our control. These factors include, but are not limited to:

(a) our ability to commercially market our ThermoMobil and AquaMission products;


(b) our ability to develop a commercially marketable EnergyMission/Yellow Box product;


(c) our ability to raise additional capital necessary to implement our business strategy and plan of operation;


(d) our ability to compete with other existing technologies; and


(e) the success of any marketing and promotional campaign which we conduct for our products once development is complete.


Due to the uncertainty regarding our future revenues and profitability, we expect that the majority of additional financing that we obtain, if any, will likely be in the form of equity financing. Our management does not expect sufficient debt financing to be available to us at this stage of our business.

The financial statements accompanying this Annual Report contemplate our continuation as a going concern. However, we have not yet achieved profitable operations and we expect to continue to incur substantial losses in the foreseeable future as we continue to develop our business. As a result, our auditors stated in their report for our fiscal year ended September 30, 2006 that a substantial doubt exists as to our ability to continue as a going concern.

18


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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 are material to our stockholders.

CRITICAL ACCOUNTING POLICIES

We have identified certain accounting policies, described below, that are most important to the portrayal of our current financial condition and results of operations. Our significant accounting policies are disclosed in the notes to the audited financial statements included in this Annual Report.

Principles of Consolidation

The consolidated financial statements include the accounts of Aqua Society, Inc and our wholly owned subsidiary, Aqua GmbH, a German limited liability company. All inter-company transactions have been eliminated.

Foreign Currency Translation

Our functional currency is United States dollars. Our subsidiary, Aqua GmbH, uses the Euro as its functional currency. Accordingly, assets and liabilities of Aqua GmbH are translated into US dollars at the exchange rate in effect at the balance sheet date and capital accounts are translated at historical rates. Income statement accounts are translated at the average rates of exchange prevailing during the period. Translation adjustments arising from the use of differing exchange rates from period to period are included in the Accumulated Other Comprehensive Gain/(Loss) account in Stockholders’ Equity.

Transactions undertaken in currencies other than the functional currency of the entity are translated using the exchange rate in effect as of the transaction date. Any exchange gains and losses would be included in the Statement of Operations.

Patents, Patent Rights and Amortization

Patents and patent rights are recorded at cost. We provide for the amortization of patents and patent rights on the straight-line basis over their estimated economic lives, estimated to be 5 years. Amortization is recorded upon the patents being awarded.

RISKS AND UNCERTAINTIES

Need For Financing

We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability and we anticipate that we will continue to incur substantial losses in the foreseeable future. We are likely to continue to need substantial additional financing in order to implement our long term business plan. We currently do not have any financing arrangements in place and there is no assurance that we will be able to acquire sufficient financing on terms acceptable to us or at all. If financing is not available or obtainable, our ability to meet our financial obligations and pursue our plan of operation will be substantially limited and investors may lose a substantial portion or all of their investment

Limited Operating History, Risks Of A New Business Venture

We are still in the process of developing our business and we do not expect to achieve profitability in the near future. We have only recently begun to earn revenues. Readers are cautioned that our past results may not be indicative of future performance.

19


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Potential investors should be aware of the difficulties normally encountered by a new enterprise and the high rate of failure of such enterprises. The potential for future success must be considered in light of the problems, expenses, difficulties complications and delays encountered in connection with the development of a business in the area in which we intend to operate and in connection with the formation and commencement of operations of a new business in general. These include, but are not limited to, unanticipated problems relating to research and development programs, marketing, approvals by government agencies, competition and additional costs and expenses that may exceed current estimates. There is no history upon which to base any assumption as to the likelihood that we will prove successful, and there can be no assurance that we will ever achieve profitable operations.

If We Are Unable To Achieve Market Acceptance For Our Products, We Will Be Unable To Build Our Business

To date, we have completed technical development of our EnergyMission/Yellow Box, ThermoMobil and AquaMission products. However, we have only received a limited number of confirmed orders for these products. Our future success will depend upon the acceptance of our existing products, and other products that we develop, by the respective industries in which we intend to market those products. Achieving such acceptance will require significant investments in research and development and market development. Our technologies and products may not achieve widespread acceptance, which could limit our ability to develop and expand our business. The technologies upon which our products and services are based are

[westfale64]

Antwort auf Beitrag Nr.: 27.182.289 von krofisch am 25.01.07 17:32:49

In #4727 steht das Entscheidende aus Aquas Q-Berichten zusammengefasst:
Noch nie etwas verkauft und die Anlegermillionen in den Taschen der Gründer.

OTC-Lemmingabzocke nach bekanntem Muster -inclusive bezahlter Forenpusher

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.182.418 von westfale64 am 25.01.07 17:39:17

und nicht vergessen, sie wissen noch nicht mal ob ihre angeblichen Entwicklungen funktionieren

Loick has informed us that they expect to complete the installation of this motor sometime in 2007. We have no control over Loick’s installation of this motor and, as a result, we can provide no assurances when construction of the unit ordered by Loick will begin. Once construction has begun, we expect that it will take us approximately 3 months to complete.

In addition, even if we are able to complete construction of the ordered unit, there are no assurances that, once installed, it will function as expected.

Ich bezweifle, daß die überhaupt schon was an Loick übergeben haben. Angeblich soll das Zeug im März 06 bestellt worden sein, aber kurz vor Ende des Jahres wurde es erst vorgestellt, und wie eine verkaufbares Produkt sieht das auch noch nicht aus.

[Borealis]

Antwort auf Beitrag Nr.: 27.149.881 von westfale64 am 24.01.07 13:52:08

"Den Aqua –Schrott konnte Hamm also noch nie verkaufen."

Es ist ja noch viel schlimmer. Selbst wenn Kunden Geräte bestellen, ist Aqua ja unfähig das bestellte zu bauen und auszuliefern, siehe das Trauerspiel mit KalTec und BS Technik. Wo sollen dann Umsätze herkommen? Warum sollte dann überhaupt noch jemand etwas bei Aqua bestellen?
Oder diese Bestellungen waren von A bis Z erlogen. Dann handelt es sich beim Management nicht um Dillettanten, sondern um Kriminelle.

Hamm ist jetzt übrigens nicht mehr bloß Geschäftsführer in der Aqua Society GmbH, sondern auch im Vorstand der Aqua Society Inc. und kann somit haftbar gemacht werden für falsche Angaben in den Filings der Inc.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.184.433 von Borealis am 25.01.07 19:22:55

Wenn man was verkaufen will, dann sollte man auch eine Garantie dafür geben das es auch funktioniert. Wenn mir einer was andrehen will und dazu sagt: "Wir wissen aber nicht ob es wie erwartet funktioniert." dann sage ich ihm er soll es sich sonst wo hinstecken.
Unter einer Bedingung könnte man es trotzdem riskieren, nämlich wenn sämtliche Arbeiten und Kosten von dem Verkäufer übernommen werden und das Gerät erst bezahlt werden muß wenn es auch funktioniert.
Das ist schon bei den Scheichs schief gegangen die nie für das Wassermachergerät bezahlt haben.

[krofisch]

Antwort auf Beitrag Nr.: 27.182.418 von westfale64 am 25.01.07 17:39:17

Da steht doch nur die westfale64-'Wahrheit'!

Das Original steht in # 4728!

[krofisch]

Antwort auf Beitrag Nr.: 27.184.762 von wohinistmeinGeld am 25.01.07 19:40:53

von wohinistmeinGeld (10.07.04 23:54:21)
betrifft Aktie: BAVARIAN NORDIC AS
wo mein Geld ist weiß ich übrigens trotzdem nicht, ich weiß nur das es weg ist

von wohinistmeinGeld (06.07.04 22:55:21)
betrifft Aktie: BAVARIAN NORDIC AS
... Ich bin schon oft genug darauf reingefallen, ich glaube es wird Zeit zu kündigen. Was treiben die eigentlich den ganzen Tag für Ihr Geld?

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.203.634 von krofisch am 26.01.07 18:10:10

könntest du mal bitte die Zusammenhänge zwischen dem hervorragend aufgestellten Biotechwertes Bavaria Nordic, aus dessen Thread du die unvollständigen Beiträge kopierst, und der Versagerbude Aqua darstellen?
Gibt es da eine Verbindung, und wenn ja, welche? Ich kann jedenfalls keinen Sinn in deinem Beitrag erkennen.

[Teddybear]

Richtig ruhig hier.

Dafür kann es zwei Gründe geben: Es ist wieder mal irgendein PR-Kasperletehater in Arbeit, die die gesamte Manpower aller 8 Mitarbeiter absorbiert.

Oder das neue Management hat entschieden, daß es für den Ruf der Weltfirma in spe besser ist, wenn der Hausmeister sich seinen eigentlichen Aufgaben widmet.

[Borealis]

Antwort auf Beitrag Nr.: 27.458.540 von Teddybear am 06.02.07 11:23:03

Zumindest deuten die Kurskapriolen in den letzten Tagen darauf hin, daß wieder mal eine PR vorbereitet wird.
Weil nach meiner Rechnung die liquiden Mittel im Januar zu Ende gegangen sein dürften, würde ich auf Private Placement tippen, von dieser dubiosenen Firma in Dubai, die doch mal etwas Geld "for investing pursoses" bekommen hatte.

Und daß die Lemmige bei so einer Meldung wieder scharenweise ins offene Messer laufen, haben wir ja erst kürzlich bei Clyvia gesehen.

[krofisch]

Antwort auf Beitrag Nr.: 27.462.119 von Borealis am 06.02.07 14:25:22

Die Basher wissen wieder einmal Nichts und haben Angst, dass der AQUA-Kurs weiter steigen könnte.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.468.773 von krofisch am 06.02.07 19:06:14

warum, weißt du wieder sowas wie, Ende des Jahres steht der Kurs bei 0,90?

[westfale64]

Antwort auf Beitrag Nr.: 27.468.773 von krofisch am 06.02.07 19:06:14

Wie Aqua die vielen Lügen auf der eigenen Homepage (#4540) und die Umleitung der Anlegergelder in die Taschen der Initiatoren (#4727) erklären will wissen wir noch nicht.........

[krofisch]

Antwort auf Beitrag Nr.: 27.469.383 von westfale64 am 06.02.07 19:22:56

Das die 'W'-Poster Nichts Wissen, wissen hier schon lange alle!

Daher lachen auch alle so schön über die nichtssagenden 'W'-Posting.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.469.584 von krofisch am 06.02.07 19:28:19

man braucht auch nicht viel Wissen, es reicht wenn man weiß, daß immer das Gegenteil von dem eintrifft was krofisch behauptet.
Das kann jeder nachvollziehen indem er den Thread durchliest.
Einzige Ausnahmen sind die Insiderinformationen wie Zeitpunkt für Berichtveröffentlichungen oder Termin für Pressekonferenz, aber da gehört auch nicht viel dazu wenn man an der Quelle sitzt.

[Borealis]

Antwort auf Beitrag Nr.: 27.470.112 von wohinistmeinGeld am 06.02.07 19:42:25

Daß wir mit unserer Einschätzung richtig liegen und Aqua weiter fleißig Geld verbrannt hat, so daß wahrscheinlich kaum noch welches übrig ist, und daß aus den vielen Ankündigungen wieder nichts geworden ist, das wird der nächste Quartalsbericht zeigen, der am 15.02. fällig wäre. Natürlich wird Aqua auch diesen Termin wieder nicht schaffen und fünf Tage Nachfrist beantragen.

[westfale64]

Antwort auf Beitrag Nr.: 27.478.424 von Borealis am 07.02.07 07:21:10

"Aqua weiter fleißig Geld verbrannt hat"
Hamm und Stamm verbrennen das Anlegergeld nicht für Forschung und Entwicklung sondern für die Privatkonten der Aqua-Gründer, wie die Zitate aus Aquas eigenem Quartalsbericht in #4727 belegen.

Nicht eine einzige Maschine verkauft -aber Millionen in die Taschen von Hamm und Stamm.
Und um diese Abzocke schönzulügen brauchen diese Typen Pusher wie krofisch, der unangenehme Fragen mit inhaltsfreien Postings und Wiederholungen der vielen Aqua-Lügen (#4540) nach hinten schiebt.



Also nochmals die Frage, der Sie ständig ausweichen, krofisch:
Wofür stecken Hamm und Stamm sich die Millionen in die eigene Tasche ?

[krofisch]

Antwort auf Beitrag Nr.: 27.491.106 von westfale64 am 07.02.07 17:55:46

Die Person die sich wieder nicht traut, sich direkt (und nicht nor anonym bei w.o.) mit seinen so genannten 'Fragen' an die Betroffenen zu wenden.


Einfach nur noch zum Lachen dieser Typ, der sich nicht traut!

[krofisch]

Antwort auf Beitrag Nr.: 27.491.106 von westfale64 am 07.02.07 17:55:46

Wieder nur ein inhaltsleeres Wiederholungs-SPAM-Posting ohne Neue Infos.

Der User müsste doch eigentlich 'Wiederholung' oder 'Kopierer' heissen!

[krofisch]

Antwort auf Beitrag Nr.: 27.470.112 von wohinistmeinGeld am 06.02.07 19:42:25

man braucht auch nicht viel Wissen

Und genau deshalb postest du wohl hier täglich deine nichtswissenden Postings?!

[westfale64]

Antwort auf Beitrag Nr.: 27.495.264 von krofisch am 07.02.07 20:51:09

Selbst den von Aqua bestellten Forenpushern fällt nicht ein wie sie die vielen Lügen auf Aquas Homepage (#4540) und die seltsamen Millionenprovisionen , die Hamm und Stamm sich selbst genehmigen (#4727),erklären können.

[krofisch]

Antwort auf Beitrag Nr.: 27.518.238 von westfale64 am 08.02.07 17:51:51

Wieder nur ein inhaltsleeres Wiederholungs-SPAM-Posting ohne neue Infos.

Der User müsste doch eigentlich \'Wiederholung\' oder \'Kopierer\' heissen!

[krofisch]

Antwort auf Beitrag Nr.: 27.518.238 von westfale64 am 08.02.07 17:51:51

Die Person die sich wieder nicht traut, sich direkt (und nicht nur anonym bei w.o.) mit seinen so genannten \'Fragen\' an die Betroffenen zu wenden.


Einfach nur noch zum Lachen dieser Typ, der sich nicht traut!

[Borealis]

Antwort auf Beitrag Nr.: 27.519.762 von krofisch am 08.02.07 18:33:58

Wie war denn das mit deinem Kursziel von 0,90€? War das pro Aktie gerechnet oder für die ganze Firma?

[Teddybear]

Antwort auf Beitrag Nr.: 27.519.762 von krofisch am 08.02.07 18:33:58

Die Person die sich wieder nicht traut, sich direkt (und nicht nur anonym bei w.o.) mit seinen so genannten \\'Fragen\\' an die Betroffenen zu wenden

Der Firmenbeamte, der ganz genau weiß, wer sich mit welchen Fragen an Aqua gewandt hat, aber angeblich nichts mit der Klitsche zu tun hat... das ist so abgrundtief hohl... und ich hatte schon gedacht, wenigstens dabei hätte das neue Management eventuell was dazugelernt.

[westfale64]

!

Dieser Beitrag wurde vom System automatisch gesperrt. Bei Fragen wenden Sie sich bitte an [e-mail]

[Leichtmatrose]

Antwort auf Beitrag Nr.: 27.468.773 von krofisch am 06.02.07 19:06:14

Zitat vom Prognosen-Fisch:

Die Basher wissen wieder einmal Nichts und haben Angst, dass der AQUA-Kurs weiter steigen könnte.

Wenn man ein Mikroskop zur Hilfe nimmt, ist am Ende der Fahnenstange ein Kursanstieg prognostizierbar ( 90 cent )



Manchmal ist es besser, man weiß nix, als dass man wegen Insiderwissens belangt wird!

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.495.431 von krofisch am 07.02.07 20:56:17

Jedenfalls übertrifft mein Wissen deines bei weitem, ist ja auch nicht schwer, du hast ja keines.

Ich weiß z.B. daß:
seit 2 Jahren eine Aqua Maschine bei den Scheichs steht aber dadurch noch kein Geld rein gekommen ist bzw die Scheichs keine Maschine gekauft haben.
....Rotes Kreuz und Elfenbeinküste vor über 2 Jahren einen Prototyp "bestaunt", aber nie einen gekauft haben genauso wie sich weitere "Aufträge" aus Elfenbeinküste in Luft aufgelöst haben.
....vor über 2 Jahren für ein Passagierschiff (Alstom Marine) eine Abwasseraufbereitungsanlage entwickelt werden sollte was im Sande verlaufen ist.
....vor über 2 Jahren 15 Thermomobile für Südostasien und Golfregionen geliefert werden sollten und bis heute nicht eines geliefert wurde.
....vor fast 1,5 Jahren die Zusammenarbeit mit der UN verkündet wurde, aber nie ein Auftrag zustande kam.
....es seit 1,5 Jahren mit TSC im Jemen eine Vereinbarung gibt, aber daraus nie ein Auftrag entstand.
....man bei Aqua die, sich im gleichen Ort befindenden, Bertlicher Biogas-Anlage nicht kennt obwohl man damit Werbung macht Biogas Anlagen ausrüsten zu wollen
....sämtliche sonstige Ankündigungen längst vergessen sind, Coca Cola, Wohnanlage in Indien und vieles mehr.
....sämtliche krofisch-Kursprognosen, die Grundsätzlich nur positiv waren immer fallende Kurse nach sich zogen.
....der Kurs fast 90% von seinem Hoch verloren hat.

Reicht das, oder soll ich noch mehr von meinem Wissen aufzählen?
Jetzt bist du dran, fang mal mit der einfachsten Sache an. Wißt ihr inzwischen wo sich die Biogasanlage in der Nachbarschaft befindet und wie sieht es da mit einem Auftrag aus? Oder sind die nicht an einer Zusammenarbeit mit euch interessiert weil sie wissen, daß ihr eh nichts fertig bekommt.
Was macht Loick? Haben die inzwischen was von euch bekommen oder ist da auch wieder so eine Luftnummer wie alles andere.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.495.264 von krofisch am 07.02.07 20:51:09

ich habe an euch geschrieben, und weil ich Info Material bekommen wollte, natürlich auch mit Adresse.
Keine Antwort, selbst zum Schreiben das ihr kein Infomaterial habt wart ihr zu feige.

[krofisch]

Antwort auf Beitrag Nr.: 27.521.025 von Teddybear am 08.02.07 19:00:03

... das ist so abgrundtief hohl...

Besser hätte ich deine Postings auch nicht beschreiben können.

[krofisch]

Antwort auf Beitrag Nr.: 27.530.973 von wohinistmeinGeld am 08.02.07 23:24:29

ich habe an euch geschrieben

Da du mich nicht kennst und auch keine Ahnung hast, wo ich arbeite, kannst du mir auch gar nicht geschrieben haben.

[krofisch]

Antwort auf Beitrag Nr.: 27.530.933 von wohinistmeinGeld am 08.02.07 23:21:25

Daher auch der USER-Name

von wohinistmeinGeld (10.07.04 23:54:21)
betrifft Aktie: BAVARIAN NORDIC AS
wo mein Geld ist weiß ich übrigens trotzdem nicht, ich weiß nur das es weg ist

von wohinistmeinGeld (06.07.04 22:55:21)
betrifft Aktie: BAVARIAN NORDIC AS
... Ich bin schon oft genug darauf reingefallen, ich glaube es wird Zeit zu kündigen. Was treiben die eigentlich den ganzen Tag für Ihr Geld?

[krofisch]

Antwort auf Beitrag Nr.: 27.528.641 von Leichtmatrose am 08.02.07 21:55:50

Manchmal ist es besser, man weiß nix

Der erste Schritt zur Selbsterkenntnis?

[westfale64]

"Ich weiß z.B. daß:
seit 2 Jahren eine Aqua Maschine bei den Scheichs steht aber dadurch noch kein Geld rein gekommen ist bzw die Scheichs keine Maschine gekauft haben.
....Rotes Kreuz und Elfenbeinküste vor über 2 Jahren einen Prototyp "bestaunt", aber nie einen gekauft haben genauso wie sich weitere "Aufträge" aus Elfenbeinküste in Luft aufgelöst haben.
....vor über 2 Jahren für ein Passagierschiff (Alstom Marine) eine Abwasseraufbereitungsanlage entwickelt werden sollte was im Sande verlaufen ist.
....vor über 2 Jahren 15 Thermomobile für Südostasien und Golfregionen geliefert werden sollten und bis heute nicht eines geliefert wurde.
....vor fast 1,5 Jahren die Zusammenarbeit mit der UN verkündet wurde, aber nie ein Auftrag zustande kam.
....es seit 1,5 Jahren mit TSC im Jemen eine Vereinbarung gibt, aber daraus nie ein Auftrag entstand.
....man bei Aqua die, sich im gleichen Ort befindenden, Bertlicher Biogas-Anlage nicht kennt obwohl man damit Werbung macht Biogas Anlagen ausrüsten zu wollen
....sämtliche sonstige Ankündigungen längst vergessen sind, Coca Cola, Wohnanlage in Indien und vieles mehr.
....sämtliche krofisch-Kursprognosen, die Grundsätzlich nur positiv waren immer fallende Kurse nach sich zogen.
....der Kurs fast 90% von seinem Hoch verloren hat."


Aqua traut sich nicht diese vielen Auftragsmärchen zu erklären, da sie diese angeblichen Aufträge frei erfunden haben um den Aktionären eine Weltfirma vorzugaukeln und damit die eigenen Altaktien an die Dummen zu verkaufen.

[westfale64]

Wieviele der 70 Mio. Altaktien haben die Aqua-Gründer schon an die Lemminge verkauft bzw. wie hoch ist der Schaden, den die Aqua-Bande bei den Lemmingen angerichtet hat ?

Genau werden wir das wohl erst nach Aquas Insolvenz und den dann folgenden Betrugsprozessen erfahren.

[krofisch]

Antwort auf Beitrag Nr.: 27.554.237 von westfale64 am 09.02.07 18:42:02

Dümmer gehts nimmer:

jetzt kopiert westfale64 mangels eigenem Wissen schon die Postings von wohinistmeinGeld.


siehe #4754 von wohinistmeinGeld 08.02.07 23:21:25 Beitrag Nr.: 27.530.933

[krofisch]

Antwort auf Beitrag Nr.: 27.554.313 von westfale64 am 09.02.07 18:45:20

Schon wieder die gleichen 'Wunschträume' des 'Lügenbarons von Münchhausen' wie im letzten und vorletzten Jahr!!!!!!

[krofisch]

Antwort auf Beitrag Nr.: 27.554.237 von westfale64 am 09.02.07 18:42:02

frei erfunden haben

Besser kann bestimmt keiner deine Postings beschreiben!

[westfale64]

Hamm und Stamm verbrennen das Anlegergeld nicht für Forschung und Entwicklung sondern für die Privatkonten der Aqua-Gründer, wie die Zitate aus Aquas eigenem Quartalsbericht in #4727 belegen.

Nicht eine einzige Maschine verkauft -aber Millionen in die Taschen von Hamm und Stamm.
Und um diese Abzocke schönzulügen brauchen diese Typen Pusher wie krofisch, der unangenehme Fragen mit inhaltsfreien Postings und Wiederholungen der vielen Aqua-Lügen (#4540) nach hinten schiebt.



Also nochmals die Frage, der Sie ständig ausweichen, krofisch:
Wofür stecken Hamm und Stamm sich die Anleger-Millionen in die eigene Tasche ?

[krofisch]

Antwort auf Beitrag Nr.: 27.555.220 von westfale64 am 09.02.07 19:27:15

Auch wenn du es nie begreifen wirst:

Du mußt deine Fragen schon direkt mit voller Anschrift etc. an AQUA stellen.

Aber davor hast du ja wie alle Wissen eine heiden Angst!

Ich bin nur Aktionär!

[krofisch]

Antwort auf Beitrag Nr.: 27.555.220 von westfale64 am 09.02.07 19:27:15

mit inhaltsfreien Postings und Wiederholungen

Kann jemand noch besser die westfale64-Postings beschreiben?

[krofisch]

Antwort auf Beitrag Nr.: 27.555.220 von westfale64 am 09.02.07 19:27:15

jetzt kopiert er ja wieder seine eigenen Postings

[Leichtmatrose]

Antwort auf Beitrag Nr.: 27.554.743 von krofisch am 09.02.07 19:04:55

Dümmer gehts nimmer:



Das hier ist die Erfolgskurve des Fisch Allwissend!

[Teddybear]

Antwort auf Beitrag Nr.: 27.553.398 von krofisch am 09.02.07 18:06:36

Da du mich nicht kennst und auch keine Ahnung hast, wo ich arbeite, kannst du mir auch gar nicht geschrieben haben.

Wenn Du nicht nicht für Aqua arbeiten würdest wüßtest Du nicht, wer Aqua geschrieben hat. Also ist eins von beiden gelogen, ist doch ganz einfach.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.558.849 von Teddybear am 09.02.07 21:57:01

Ein Lügner wird sich immer irgendwie verraten, der Eine früher der Andere später, und esto dümmer um so früher.
Krofisch hat sich schon sehr früh verraten

Er behauptet nicht bei Aqua zu arbeiten und behauptet gleichzeitig man hätte sich nicht bei Aqua gemeldet. Woher will er das wissen wenn er nicht dort arbeitet? Ich glaube kaum das eine Firma irgendeinem daher gelaufenen Möchtegern-Aktionär Informationen über den Schriftverkehr mit potentiellen Kunden weiter gibt.
Obwohl, bei einer Gangsterfirma könnte auch das möglich sein, aber damit würde man echte Kunden gleich wieder verjagen. Alledings müßte man dazu erst mal Kunden haben und die hat Aqua nicht und es ist fraglich ob sie jemals einen Kunden haben werden.

[BonMala]

Mein Lieblingsthread

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.559.858 von BonMala am 09.02.07 22:33:00

Gelle, ich sags doch, hier ist es immer lustig, allerdings nur wenn man keine der Aktien hat

[krofisch]

Antwort auf Beitrag Nr.: 27.556.449 von Leichtmatrose am 09.02.07 20:19:00

Dümmer gehts nimmer

Es geht: siehe deine eigenen Postings!

[krofisch]

Antwort auf Beitrag Nr.: 27.558.849 von Teddybear am 09.02.07 21:57:01

Dies beweist wieder eindeutig, dass du gar nichts weist:

Also wo sind deine Beweise?

Du äußerst immer nur Vermutungen und Spekulationen!

Du hast eben gar keine Ahnung. Und das ist auch gut so!

[krofisch]

Antwort auf Beitrag Nr.: 27.559.530 von wohinistmeinGeld am 09.02.07 22:21:50

Ein Lügner wird sich immer irgendwie verraten, der Eine früher der Andere später, und esto dümmer um so früher.

Gut das es bei dir schon sehr früh war!

[krofisch]

Antwort auf Beitrag Nr.: 27.560.155 von wohinistmeinGeld am 09.02.07 22:45:06

Gelle, ich sags doch, hier ist es immer lustig

Stimmt. Besonders bei deinen inhaltsleeren aber immer sehr lustigen nichtssagenden Postings!

[krofisch]

Antwort auf Beitrag Nr.: 27.560.155 von wohinistmeinGeld am 09.02.07 22:45:06

Noch lustiger sind aber diese Postings:

von wohinistmeinGeld (10.07.04 23:54:21)
betrifft Aktie: BAVARIAN NORDIC AS
wo mein Geld ist weiß ich übrigens trotzdem nicht, ich weiß nur das es weg ist


von wohinistmeinGeld (06.07.04 22:55:21)
betrifft Aktie: BAVARIAN NORDIC AS
... Ich bin schon oft genug darauf reingefallen, ich glaube es wird Zeit zu kündigen. Was treiben die eigentlich den ganzen Tag für Ihr Geld?

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.572.742 von krofisch am 10.02.07 12:15:23

Ist ja schön dass du alles so lustig findest, vor allem z.B. das hier.:
Daß
seit 2 Jahren eine Aqua Maschine bei den Scheichs steht aber dadurch noch kein Geld rein gekommen ist bzw die Scheichs keine Maschine gekauft haben.
....Rotes Kreuz und Elfenbeinküste vor über 2 Jahren einen Prototyp "bestaunt", aber nie einen gekauft haben genauso wie sich weitere "Aufträge" aus Elfenbeinküste in Luft aufgelöst haben.
....vor über 2 Jahren für ein Passagierschiff (Alstom Marine) eine Abwasseraufbereitungsanlage entwickelt werden sollte was im Sande verlaufen ist.
....vor über 2 Jahren 15 Thermomobile für Südostasien und Golfregionen geliefert werden sollten und bis heute nicht eines geliefert wurde.
....vor fast 1,5 Jahren die Zusammenarbeit mit der UN verkündet wurde, aber nie ein Auftrag zustande kam.
....es seit 1,5 Jahren mit TSC im Jemen eine Vereinbarung gibt, aber daraus nie ein Auftrag entstand.
....man bei Aqua die, sich im gleichen Ort befindenden, Bertlicher Biogas-Anlage nicht kennt obwohl man damit Werbung macht Biogas Anlagen ausrüsten zu wollen
....sämtliche sonstige Ankündigungen längst vergessen sind, Coca Cola, Wohnanlage in Indien und vieles mehr.
....sämtliche krofisch-Kursprognosen, die Grundsätzlich nur positiv waren immer fallende Kurse nach sich zogen.
....der Kurs fast 90% von seinem Hoch verloren hat.


Und weiter finde ich es sehr lustig, daß ihr nichts über eine Biogasanlage in der Nachbarschaft wisst, aber großspurig davon redet Biogasanlagen ausrüsten zu wollen. Wie sieht es denn jetzt mit einem Auftrag aus? Oder sind die nicht an einer Zusammenarbeit mit euch interessiert weil sie wissen, daß ihr eh nichts fertig bekommt.
Was macht Loick? Haben die inzwischen was von euch bekommen oder ist da auch wieder so eine Luftnummer wie alles andere.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.572.785 von krofisch am 10.02.07 12:17:26

Ist ein Volltreffer der genau aus Aqua passt.
Was treiben die eigentlich den ganzen Tag für Ihr Geld?

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.572.711 von krofisch am 10.02.07 12:13:51

Tja, dich kann ich leider nicht mehr schlagen, die erste dicke Lüge kam von dir schon als ich noch nicht in den Aqua Threads geschrieben hatte. (Beamter mit 2 Jahren Urlaub)

Aber ich gebe dir jetzt mal einen echten Grund mich Lügner zu nennen.
ich bashe Aqua mit allen Mitteln weil ich dermaßen von diesem weltklasse Konzern überzeugt bin, daß ich unbedingt noch 1 Mio Aktien billiger kaufen will.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.578.323 von wohinistmeinGeld am 10.02.07 15:07:52

jetzt sehe ich schon die Dollarzeichen in krofischchens Augen glitzern bei der Aussicht so viele Aktien los zu werden
Um Ironie zu erkennen fehlt bei ihm etwas.

[westfale64]

Eine wertlose OTC-Aktienvertickerbude wie aus dem Lehrbuch:
-Lügen auf der Homepage und im Quartalsbericht
-Telefondrücker und Forenpusher
-Das Anlegergeld versickert bei den Initiatoren


Fehlen nur noch die BETRUGSPROZESSE

[krofisch]

Antwort auf Beitrag Nr.: 27.577.888 von wohinistmeinGeld am 10.02.07 14:59:49

Noch lustiger sind aber diese Postings:

von wohinistmeinGeld (10.07.04 23:54:21)
betrifft Aktie: BAVARIAN NORDIC AS
wo mein Geld ist weiß ich übrigens trotzdem nicht, ich weiß nur das es weg ist

von wohinistmeinGeld (06.07.04 22:55:21)
betrifft Aktie: BAVARIAN NORDIC AS
... Ich bin schon oft genug darauf reingefallen, ich glaube es wird Zeit zu kündigen. Was treiben die eigentlich den ganzen Tag für Ihr Geld?

[krofisch]

Antwort auf Beitrag Nr.: 27.578.323 von wohinistmeinGeld am 10.02.07 15:07:52

Aber ich gebe dir jetzt mal einen echten Grund mich Lügner zu nennen.

Nicht nötig. Da gibt es schon genügend andere Gründe!

[krofisch]

Antwort auf Beitrag Nr.: 27.586.229 von westfale64 am 10.02.07 18:21:39

Die WEunschtäune eines 'von Münchhausen'?

[krofisch]

Antwort auf Beitrag Nr.: 27.586.229 von westfale64 am 10.02.07 18:21:39

Das klingt doch evtl. fast so wie ein Hassposting eines ehemaligen entlassenen Hamm-Mitarbeiters, der jetzt von HartzIV lebt oder etwa nicht?

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.614.416 von krofisch am 11.02.07 13:07:39

nenne mir mal nur Einen.
Aber das kannst du nicht wie du sonst auch nichts kannst, Z.B mal Antworten liefern. Ich an deiner Stelle wäre vor Scham längst im Boden versunken wenn ich auf dutzende Fragen nicht mal eine einzige Antwort wüßte, oder wenn ich dutzende Kursprognosen abgeben würde bei denen nicht mal die Tendenz stimmt.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.614.356 von krofisch am 11.02.07 13:06:22

Und weil dir eh nur Schwachsinn einfällt kramst du ohne Sinn und Zweck irgendwelche nichtssagende mehrere Jahre alte Beiträge aus die mit dem Thema nicht das geringste zu tun haben, die aus einer Zeit stammen als es Aqua noch nicht mal gab.
Auch da bist du noch eine Antwort schuldig. Hat das irgendwas mit Aqua zu tun, gibt es da vielleicht doch eine Verbindung die mir entgangen ist.
Oder koperst du einfach drauf los weil du zu einfallslos bist einen selbstständigen Text zu entwerfen?

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.614.570 von krofisch am 11.02.07 13:10:35

Über ehemalige Hamm-Mitarbeiter weißt du sicher am besten bescheid.

[Borealis]

Antwort auf Beitrag Nr.: 27.614.570 von krofisch am 11.02.07 13:10:35

"eines ehemaligen entlassenen Hamm-Mitarbeiters"

Auf Bewährung entlassen?

[westfale64]

#4540: Aquas Lügen auf der eigenen Homepage
#4727: Aquas Aktionärsabzocke belegt durch den eigenen Quartalsbericht.

Für diesen Millionenbesch... gibt es mMn saftige Haftstrafen -ohne Bewährung .


Oder glaubt hier irgendjemand, dass diese Bande die Anleger um 2-stellige Millionenbeträge erleichtern kann ohne dass diese billige OTC-Abzocknummer vor dem Staatsanwalt endet ?

[krofisch]

Antwort auf Beitrag Nr.: 27.661.417 von westfale64 am 12.02.07 15:43:43

Das klingt doch schon wieder evtl. fast so wie ein Hassposting eines ehemaligen entlassenen Hamm-Mitarbeiters, der jetzt von Hartz IV lebt oder etwa nicht?

[krofisch]

Antwort auf Beitrag Nr.: 27.646.923 von wohinistmeinGeld am 11.02.07 23:22:30

Hier die lustigsten wohinistmeinGeld-Postings:

von wohinistmeinGeld (10.07.04 23:54:21)
betrifft Aktie: BAVARIAN NORDIC AS
wo mein Geld ist weiß ich übrigens trotzdem nicht, ich weiß nur das es weg ist

von wohinistmeinGeld (06.07.04 22:55:21)
betrifft Aktie: BAVARIAN NORDIC AS
... Ich bin schon oft genug darauf reingefallen, ich glaube es wird Zeit zu kündigen. Was treiben die eigentlich den ganzen Tag für Ihr Geld?

[krofisch]

Antwort auf Beitrag Nr.: 27.652.810 von Borealis am 12.02.07 07:27:51

Kennst du westfale64 etwa so gut?

[wohinistmeinGeld]

Was treiben die eigentlich den ganzen Tag für Ihr Geld?

Nie eintreffende News verschicken ist etwas wenig für die Gehälter die bei Aqua kassiert werden.

Was ist z.B mit dem Auftrag aus Elfenbeinküste von Juni 2005? Tut sich da mal noch was oder war das genauso eine aus der Luft gegriffene Meldung nur um Aktionäre abzuzocken, wie bei allen anderen Meldungen?

http://www.aqua-society.com/DOWNLOADS/Presseartikel/Transpor…

[wohinistmeinGeld]

krofischchen, was ist eigentlich mit Coca Cola in Indien?

Auf der Homepage habt ihr die Meldung über die Machbarkeitsstudie mit Coca Cola vom 20.10.05 ja gelöscht, war wohl doch etwas zu heiß eine frei erfundene Nachricht drauf zu lassen. Nur dumm wenn man zu blöd ist das auch richtig zu machen, die Überschrift ist noch da, Dilettantenladen eben, und zum Glück kann man die Meldung z.B. auch noch bei Finanznachrichten.de nachlesen. Um die Nachricht da löschen zu lassen reichen wohl eure Bestechungsgelder nicht mehr. und es gibt noch viele andere wo man diese Meldung finden kann.

[Teddybear]

Antwort auf Beitrag Nr.: 27.667.412 von wohinistmeinGeld am 12.02.07 20:18:03

Deswegen sollten Aqua-Aktionäre sich alle Angaben und Meldungen auf der homepage ausdrucken. Die können nochmal sehr wichtig werden und sind in Sekunden gelöscht, wenn die Weltfirma nicht mehr an ihr Geschwätz von gestern erinnert werden möchte.

[Teddybear]

Antwort auf Beitrag Nr.: 27.667.412 von wohinistmeinGeld am 12.02.07 20:18:03

Wobei durch unseren merkbefreiten dauerspammenden Forenkasper jede im Sande verlaufene Pushmeldung hier dutzendfach reinkopiert ist, so daß alles noch da ist, aber auf der Homepage hat es juristisch mehr Relevanz.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.668.475 von Teddybear am 12.02.07 21:22:08

Wenn ich die Aqua-Homepage anschaue muß ich immer wieder lachen. Das passt irgendwie zu den Kindergartenbeiträgen von krofisch. Da werden Zeitungsartikel einfach eingescannt (welche Weltfirma hat so was nötig) und dann noch so laienhaft, daß es schräg da hängt und teilweise Wörter über den Rand gehen. Einfach nur lachhaft, da hat mancher private User eine besser aufgemachte Homepage.

[krofisch]

Antwort auf Beitrag Nr.: 27.668.658 von wohinistmeinGeld am 12.02.07 21:32:17

Die meisten lachen aber über diese lustigsten wohinistmeinGeld-Postings:

von wohinistmeinGeld (10.07.04 23:54:21)
betrifft Aktie: BAVARIAN NORDIC AS
wo mein Geld ist weiß ich übrigens trotzdem nicht, ich weiß nur das es weg ist

von wohinistmeinGeld (06.07.04 22:55:21)
betrifft Aktie: BAVARIAN NORDIC AS
... Ich bin schon oft genug darauf reingefallen, ich glaube es wird Zeit zu kündigen. Was treiben die eigentlich den ganzen Tag für Ihr Geld?

[krofisch]

Antwort auf Beitrag Nr.: 27.667.412 von wohinistmeinGeld am 12.02.07 20:18:03

Um die Nachricht da löschen zu lassen reichen wohl eure Bestechungsgelder nicht mehr.

Diese Behauptung erfüllt wieder eindeutig einen Straftatbestand der vorsätzlichen Falschaussage!!!!

Oder hast du etwa Beweise?


Du kannst dich dann ja auf den allseits bekannten 'Paragrafen' berufen. Dafür reichen deine Postings allein schon als Beweis aus!

[krofisch]

Antwort auf Beitrag Nr.: 27.668.475 von Teddybear am 12.02.07 21:22:08

Das klingt doch schon wieder evtl. fast so wie ein Hassposting eines ehemaligen entlassenen Hamm-Mitarbeiters, der jetzt von Hartz IV lebt oder etwa nicht?

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.687.778 von krofisch am 13.02.07 18:51:48

ja krofischchen, das ist meine Schuld, geb ich zu. Es war einfach naiv von mir zu denken, daß du intelligent genug bist eine Frage zu erkennen wenn ich das Fragezeichen vergesse.
Also noch mal für die ganz Unterbelichteten auf dieser Welt.

Um die Nachricht da löschen zu lassen reichen wohl eure Bestechungsgelder nicht mehr??????

Und selbst wenn es jemand geben würde der das als Behauptung auffassen könnte. ich freue mich schon auf die Begegnung mit Aqua vor Gericht
Dann werden endlich mal die Fragen beantwortet die du schon lange schuldig bist. Z.B. warum die Meldung über die Machbarkeitsstudie mit Coca Cola vom 20.10.05 gelöscht ist und warum unter dieser Überschrift etwas völlig andres steht. War das einfach frei erfunden und habt jetzt doch etwas Muffensaußen bekommen und habt es still und heimlich verschwinden lassen?

[krofisch]

Antwort auf Beitrag Nr.: 27.688.268 von wohinistmeinGeld am 13.02.07 19:13:33

das ist meine Schuld, geb ich zu. Es war einfach naiv von mir zu denken


Kein Kommentar!

[krofisch]

Antwort auf Beitrag Nr.: 27.688.268 von wohinistmeinGeld am 13.02.07 19:13:33

Wie gut, dass wohinistmeinGeld 'fehlerfrei' ist oder etwa doch nicht????

[Leichtmatrose]

Antwort auf Beitrag Nr.: 27.687.794 von krofisch am 13.02.07 18:52:59

Das klingt doch schon wieder evtl. fast so wie ein Hassposting eines ehemaligen entlassenen Hamm-Mitarbeiters, der jetzt von Hartz IV lebt oder etwa nicht?

Der “Er hat fertig“
PETRUS AUGUSTINUS JOHANNES JESUS MARIA & JOSEF VON LODENSTEIN
soll so schnell schon auf Hartz IV runter sein?

Eigentlich eine viel zu milde Strafe für jemanden, der mitgeholfen hat, diese Geldverbrennungsmaschine in Gang zu halten!

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.688.575 von krofisch am 13.02.07 19:27:32

jaja, krofischchen, auch Beiträge durch weglassen von Details ist fälschen, aber das ist mir sowas von egal.
Jeder der deine Beiträge liest weiß was für ein kleines Dr......chen du bist, mach ruhig so weiter, vielleicht wirst du irgendwann das Echo zu spüren bekommen.
Übrigens ist Bodo Schnabel nach 3 Jahren auf Bewährung raus gekommen. In deinem Fall würde dann heißen es ist vorbei in betrügerischen Absicht Beiträge zu fälschen oder unrichtige Unternehmensnachrichten als echte zu verbreiten, dann wird die Bewährung aufgehoben und der Rest abgesessen.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.688.679 von krofisch am 13.02.07 19:31:51

was ist denn jetzt mit der Machbarkeitsstudie mit Coca Cola? Wie lange braucht ihr um zu sehen ob das funktioniert? Ist ja immerhin fast 1,5 Jahre her.

[westfale64]

#4540: Aquas Lügen auf der eigenen Homepage
#4727: Aquas Aktionärsabzocke belegt durch den eigenen Quartalsbericht.

[wohinistmeinGeld]

am 22.9.05 wurde mal gemeldet, daß Aqua mit TSC im Jemen zusammenarbeitet
Aqua wörtlich:

"verfügt über ausgezeichnete Beziehungen zu Regierungskreisen und hat bereits mit den Ministerien für Gesundheit, Wasser, Umweltschutz und Energie zusammengearbeitet"

die Vereinbarung sieht so aus
"TSC erhält danach für jeden erfolgreichen Geschäftsabschluss eine Provision von sieben Prozent auf den jeweiligen Umsatz sowie eine Sondervergütung von einem Prozent der Gesamtumsätze für Werbung und Marketing. "

Die Firma scheint nicht sehr erfolgreich zu sein da es bisher(1,5 Jahre) noch keinen Abschluß gab. Oder liegt das eher daran, daß Aqua nicht erfolgreich ist.

Die Seite von TSC ist übrigens sehr interessant, und man sieht, daß es kein Hauptschüler ohne Abschluß wie bei Aqua gestaltet hat.

http://www.eco-web.com/register/03355.html

Es gibt da auch ein Suchfunktion in der man den Namen der Partner-Unternehmen eingeben kann. Warum kann man da nur wieder nicht Aqua Society finden? Ist das auch nur eine frei erfundene PR gewesen? Vielleicht frage ich bei TSC mal nach ob man dort schon mal was von Aqua Society gehört hat. Allerdings glaube ich kaum das die nichts anderes zu tun haben als sich um so einen unwichtigen Blödsinn wie krofischchen´s Aqua zu kümmern.

[Teddybear]

Antwort auf Beitrag Nr.: 27.697.852 von wohinistmeinGeld am 14.02.07 10:36:14

Der Vertrag mit dem Installateur im Jemen lief nur ein Jahr. Der einzige Zweck war der zitierte Push-PR, danach hat man nie wieder etwas davon gehört, wie auch von allen anderen "Vertriebspartnern".

[Leichtmatrose]

Der ROBBI VOM TEERBERG ist ein würdiger Nachfolger seiner Vorgänger, was die vorgemacht haben, kann er auch schon:

FORM 12b-25
NOTIFICATION OF LATE FILING

"Management of Aqua Society, Inc. (the "Company") was unable to obtain the business information necessary to complete the preparation of the Company's interim financial statements for the three months ended December 31, 2006 and the review of these financial statements by the Company's auditors in time for filing. Such information is required in order to prepare a complete filing. As a result of this delay, the Company is unable to file its Quarterly Report on Form 10-QSB within the prescribed time period without unreasonable effort or expense. The Company expects to file within the extension period."

http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fred…

[krofisch]

Antwort auf Beitrag Nr.: 27.693.551 von wohinistmeinGeld am 13.02.07 23:56:31

In deinem Fall würde dann heißen es ist vorbei in betrügerischen Absicht Beiträge zu fälschen oder unrichtige Unternehmensnachrichten als echte zu verbreiten, dann wird die Bewährung aufgehoben und der Rest abgesessen. [/]

Du scheinst da große Erfahrungen zu haben.
In Welcher A.... kann man dich denn da besuchen?

[krofisch]

Antwort auf Beitrag Nr.: 27.667.412 von wohinistmeinGeld am 12.02.07 20:18:03

Auf der Homepage habt ihr die Meldung über die Machbarkeitsstudie mit Coca Cola vom 20.10.05 ja gelöscht,

Ein Schelm ist, wer dies für eine wohinistmeinGeld-Lüge hält.

Ich habe die News auf der AQUA-Homepage gefunden:

unter
Meldungen
Aqua Society führt für Coca-Cola India eine Machbarkeitsstudie zur Wassergewinnung aus der Luft durch

- 20. Oktober 2005

Die Aqua Society, Inc. plant für Coca-Cola India

Was kannst du eigentlich?
Nicht mal einen Link ruichtig anklicken?

[krofisch]

Antwort auf Beitrag Nr.: 27.697.215 von westfale64 am 14.02.07 10:06:40

Das klingt doch schon wieder evtl. fast so wie ein Hassposting eines ehemaligen entlassenen Hamm-Mitarbeiters, der jetzt von Hartz IV lebt oder etwa nicht?

[krofisch]

Antwort auf Beitrag Nr.: 27.697.852 von wohinistmeinGeld am 14.02.07 10:36:14

Bei jemanden, der noch nicht mal eine Meldung auf einer Homepage findet, ist dies kein Wunder:


von wohinistmeinGeld (10.07.04 23:54:21)
betrifft Aktie: BAVARIAN NORDIC AS
wo mein Geld ist weiß ich übrigens trotzdem nicht, ich weiß nur das es weg ist

von wohinistmeinGeld (06.07.04 22:55:21)
betrifft Aktie: BAVARIAN NORDIC AS
... Ich bin schon oft genug darauf reingefallen, ich glaube es wird Zeit zu kündigen. Was treiben die eigentlich den ganzen Tag für Ihr Geld?

[Borealis]

Antwort auf Beitrag Nr.: 27.706.768 von Leichtmatrose am 14.02.07 16:58:35

Daß Aqua unable ist, das wissen wir doch schon lange. Eigentlich brauchen die das gar nicht mehr in ihre Filings reinzuschreiben.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.708.056 von krofisch am 14.02.07 17:40:46

ach sieh mal einer an. Das hatten wir doch schon öfters, da baut der Dilettantenhaufen Mist, man macht sie darauf aufmerksam, es wird schnell verbessert, aber anstatt wie es bei seriösen Unternehmen der Fall ist wo für das Aufmerksam machen auf Fehler auf der homepage bedankt wird, wird man bei Aqua nur wieder blöd angemacht.

Das war so als man bei Aqua erst noch den Unterschied zwischen KW und KW/h hier lernen mußte, wo man die Behauptung zur Wassererzeugung überall auf der Welt, nach der Belehrung hier in klimatisch günstig umschrieb usw.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.707.908 von krofisch am 14.02.07 17:35:03

Würdest du dich informieren was auf der Welt los ist und nicht nur hier den Forenkasper spielen, dann wüßtest du wie es läuft, du brauchst nur eure Kollegen von der Wirtschaftsbetrügerfraktion beobachten.

[Keatanu]

Antwort auf Beitrag Nr.: 27.708.539 von Borealis am 14.02.07 17:59:26

Fundstück der Woche

Herten, 12.01.2005
Aqua Society übernimmt langfristige Sanierung des Gesundheitswesens der Elfenbeinküste / Kooperationsvertrag mit dem Gesundheitsministerium unterzeichnet
Die Aqua Society, Inc. wird im Auftrag des Ministeriums für Gesundheit und Bevölkerung der Elfenbeinküste die staatlichen Krankenhäuser und Gesundheitseinrichtungen des Landes hinsichtlich ihrer technischen Ausstattung überprüfen und alle notwendigen Maßnahmen zur Modernisierung einleiten. Ein entsprechender Vertrag mit einer Laufzeit von zunächst sieben Jahren wurde dazu in der Hauptstadt Abidjan unterzeichnet. Das teilte Aqua Society in Herten mit.
Quelle: news aktuell Originaltextservice

Ich frage mich, ob nicht eher AQUA der Elfenbeinküste Geld bezahlt, damit sie diese Meldung verbreiten dürfen. Mittlerweile scheint dieses Projekt auch nicht mehr Gegenstand der Planungen zu sein, obwohl der Vertrag 7 Jahre läuft! Ist AQUA etwa schon fertig mit der Sanierung des Gesundheitswesens der Elfenbeinküste?

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.713.710 von Keatanu am 14.02.07 22:36:53

wenn die damit angeben weltweit Biogasanlagen ausrüsten zu wollen und dann nichtmal die Biogasanlage in der Nachbarschaft kennen, was wollen die dann irgendwo in Afrika? Aber es ist eben einfacher PRs über Unternehmungen in einem nicht so übersichtlichen Land rauszubringen die schwer nachzuprüfen sind anstatt mitten in Deutschland, wo jeder Hertener mal kurz rüber laufen kann um sich selbst zu informieren.

[Teddybear]

Antwort auf Beitrag Nr.: 27.713.710 von Keatanu am 14.02.07 22:36:53

Die Elfenbeinküstegeschichte ist längst im Sande verlaufen, das Aqua plötzlich festgestellt hat, daß die politische Lage dort die weitere Verfolgung der Geschäfte nicht zuläßt. Sowas aber auch. Natürlich stand das kleinlaut irgendwo im SEC-Filing, das der typische Lemming nie liest.

Das gabs bei Aqua häufig: Großkotzige Pressemitteilungen zu irgendwelchen Luftnummern, und irgendwann im Filing die Notiz, daß es doch nichts geworden ist, wenn überhaupt nochmal erwähnt.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.714.547 von Teddybear am 15.02.07 00:11:26

ja, dafür haben sie wenigstens noch eine Ausrede geliefert, aber sonst?
Wieviel wurde eigentlich davon inzwischen ausgeliefert?

Meldungen
Aqua Society erhält Zuschlag für mobile Kühlcontainer
-21.Dezember 2004-

BS Technik GmbH bestellt 15 Thermomobile für Saudi-Arabien und Thailand

Die Aqua Society GmbH, wird im Auftrag der BS Technik GmbH aus Nettetal insgesamt 15 Thermomobile an den Persischen Golf und nach Südostasien liefern. Das teilte das Unternehmen in Herten mit.

[Teddybear]

Antwort auf Beitrag Nr.: 27.714.586 von wohinistmeinGeld am 15.02.07 00:23:01

Diese Story wird sogar bis heute noch in den Quartalsberichten fortgeführt, geliefert wurde nie etwas. Entweder Aqua ist überhaupt nicht in der Lage, solche "Aufträge" auszuführen, oder es handelte sich um einen Scheinauftrag, um Lemminge anzulocken.

[westfale64]

Aquas Auftragslügen:
„04.04.2005 - Moderne Klimatechnik für den längsten Tunnel der Welt UMSATZ:0
13.04.2005 - Trinkwasser aus der Luft: Pilotprojekt in Dubai erfolgreich gestartet UMSATZ:0
26.04.2005 - Aqua Society erwirbt weltweiten Vertrieb eines Vakuum-Trennverfahrens für lösemittelhaltige Wässer UMSATZ:0
04.05.2005 - Aqua Society-Gruppe liefert vier Großkälteanlagen ins Reich der Mitte UMSATZ:0
11.05.2005 - Bergbautechnik von Aqua Society ist weltweit gefragt UMSATZ:0
19.05.2005 - Globaler Vertrieb für Kohlenbergbau-Klimatisierung / Exklusivvertrag zur weltweiten Vermarktung unterzeichnet UMSATZ:0
13.06.2005 - Aqua Society verhandelt mit Elfenbeinküste über zusätzlichen Auftrag von 2,8 Millionen Euro UMSATZ: 0
20.06.2005 - Aqua Society als offizieller Lieferant der Vereinten Nationen registriert UMSATZ: 0
31.08.2005 - Aqua Society erhält Auftrag über 2,1 Millionen Euro UMSATZ: 0
20.09.2005 - Aqua Society liefert Bergbautechnik nach Polen UMSATZ: 0
22.09.2005 - Aqua Society gewinnt Vertriebspartner für den Jemen UMSATZ: 0
20.10.2005 - Aqua Society führt für Coca-Cola India eine Machbarkeitsstudie zur Wassergewinnung aus der Luft durch UMSATZ: 0
GELOGEN: KEIN EINZIGES GESCHÄFT KAM ZUSTANDE. UND DAS NACH EINEM DUTZEND “AUFTRAGS”-ANKÜNDIGUNGEN





Hier die neuen Aqua-Märchen, die krofisch so gerne zitiert:
Aquas Werbung:
28.04.2006 - 12:32 Uhr, Aqua Society, Inc. [Pressemappe]
Aqua Society erhält Auftrag zur Klimatisierung und Trinkwasserversorgung einer Wohnanlage in Indien
Realität: 0 Umsatz
Aquas Auftragslüge Nr. 13 (oder war es schon die 14.?) nach Elfenbeinküste,Jemen, Dubai,China......(s.Aquas Homepage)
Keiner hat Aqua oder davor miningtec je auch nur einen einzigen Euro für Hamms unwirtschaftliches Gerät bezahlt.




Aquas Werbung:
21.04.2006 - 10:14 Uhr, Aqua Society, Inc. [Pressemappe]
Aqua Society: More Power Energie bestellt Anlage zur Stromerzeugung aus Niedertemperaturwärme

Realität: 0 Umsatz
Eine “More Power GmbH” in Düsseldorf existierte bis vor kurzem nur “in Gründung”. Und ausgerechnet eine neu (von Hamm?)gegründete GmbH soll jetzt den Schrott ausHamms Wasserbuden Aqua und miningtec kaufen, den seit 4 Jahren keiner haben will. . Aber nach Aquas vielen anderen Auftragslügen werden die Lemminge das auch nicht merken.




Aquas Werbung:
19.04.2006 - 14:30 Uhr, Aqua Society, Inc. [Pressemappe]
Aqua Society, Loick und ODAS gründen Joint Venture

Realität: 0 Umsatz
Klingt aber gut zum Geldholen bei den Dummen, genau wie das “Vertriebspartner”-Märchen aus dem Jemen.




Aquas Werbung:
07.04.2006 - 08:50 Uhr, Aqua Society, Inc. [Pressemappe]
Aqua Society: Aus Niedrigtemperaturwärme wirtschaftlich Strom gewinnen

Realität: 0 Umsatz
Wie unwirtschaftlich der Aqua-Schrott ist wurde ja bereits hinreichend dargelegt. Deshalb kauft ihn ja auch keiner




Aquas Werbung:
22.03.2006 - 09:01 Uhr, Aqua Society, Inc. [Pressemappe]
Weltwassertag 2006: Aqua Society erschließt neue Wege der Trinkwasserversorgung

Realität: 0 Umsatz auch beim Weltwassertag



Aquas Werbung:
12.03.2006 - 10:19 Uhr, Aqua Society, Inc. [Pressemappe]
Strom aus Abwärme: Aqua Society erhält Auftrag der Loick AG zur Lieferung einer Wärme-Kraft-Kopplungseinheit

Realität: 0 Umsatz
Das 15. Auftragsmärchen, dem keine Geschäfte folgen.



Aquas Werbung:
13.02.2006 - 10:19 Uhr, Aqua Society, Inc. [Pressemappe]
Aqua Society gibt drei Private Placements über insgesamt 1,9 Millionen Euro bekannt

Realität:
Aqua hat wieder einen Dummen gefunden, der für sein Wassermärchen Geld schickt. Die unbrauchbare Maschine läßt sich dadurch aber auch nicht verkaufen.




Aquas Werbung:
08.02.2006 - 17:33 Uhr, Aqua Society, Inc. [Pressemappe]
Aqua Society steigt mit Dr. Wladimir Klitschko in den Ring

Realität:
Wieviel haben die Aktionäre für diese unsinnige Werbung bezahlt, die auch niemanden dazu bringen wird für die Gewinnung eines Kubikmeters Wasser 30 Euro auszugeben (Aqua-Maschine) während konventionelle Methoden nur maximal 1 Euro kosten(Meerwasserentsalzung)
?


Aquas Werbung:
27.01.2006 - 15:09 Uhr, Aqua Society, Inc. [Pressemappe]
Aktionärsbrief der Aqua Society, Inc.: Energie aus Abwärme erschließt neue Märkte

Realität:
0 Umsatz bei allen 3 “Geschäftsfeldern” Aquas “Aquamission”, “Thermomission” und “Energymission”
Klingt aber gut als Verkaufsargument für die Altaktien. Und darum geht es den Aqua-Gründern schließlich.
Genauso wie Hamm 2002 mit der OTC-Hülle miningtec 10 Mio. wertlose Inhaberschuldverschreibungen an die Dummen verkaufte versucht er jetzt 100 Mio. wertlose Altaktien der Pleitefirma Vgtech (2004 von Hamm für 50000 gekauft und in Aqua Society umbenannt) an die Dummen zu verkaufen.
Das Märchen ist dasselbe wie 2002. Nur nennt Hamm die Wasser-aus-Luft-Maschine jetzt “Aquamission”. Vor 4 jahren nannte er sie “Hydroflow”. Verkaufen konnte er auch damals keine einzige.

[krofisch]

Antwort auf Beitrag Nr.: 27.713.607 von wohinistmeinGeld am 14.02.07 22:28:39

Eine faule Ausrede für eine LÜGE!

[krofisch]

Antwort auf Beitrag Nr.: 27.667.412 von wohinistmeinGeld am 12.02.07 20:18:03

Auf der Homepage habt ihr die Meldung über die Machbarkeitsstudie mit Coca Cola vom 20.10.05 ja gelöscht,

Ein Schelm ist, wer dies für eine wohinistmeinGeld-Lüge hält.

Ich habe die News auf der AQUA-Homepage gefunden:

unter
Meldungen
Aqua Society führt für Coca-Cola India eine Machbarkeitsstudie zur Wassergewinnung aus der Luft durch

- 20. Oktober 2005

Die Aqua Society, Inc. plant für Coca-Cola India

Was kannst du eigentlich?
Nicht mal einen Link richtig anklicken?
Oder: Brille Fielmann!

[krofisch]

Antwort auf Beitrag Nr.: 27.721.186 von westfale64 am 15.02.07 13:04:01

Und jetzt wieder die alten Kopien des 'von-Münchhausen-Posters'!

Außer Kopieren kann er wohl gar nichts?

[krofisch]

Antwort auf Beitrag Nr.: 27.721.186 von westfale64 am 15.02.07 13:04:01

Man sollte dich für den Pinoccio-Preis nominieren!

[Keatanu]

Antwort auf Beitrag Nr.: 27.727.462 von krofisch am 15.02.07 17:50:39

Erfindet AQUA jetzt auch schon neue Preise?

btw: Pinochio

[wohinistmeinGeld]

Wozu war eigentlich diese Meldung gut?


Meldungen
Aqua Society ernennt Repräsentanten für Westafrika

- 22. Dezember 2004-

Mit sofortiger Wirkung hat die Aqua Society GmbH, eine hundertprozentige Tochtergesellschaft der VG Tech, Inc., Thomas Morgan Mamy zum Repräsentanten für Westafrika ernannt. Damit unterstreicht das Unternehmen die Bedeutung dieser Weltregion als wichtigen Absatzmarkt für technologische Lösungen zur Kühllogistik, Trinkwassergewinnung und Wasseraufbereitung. Das teilte Aqua Society in Herten mit.

So wichtig scheint dieser Absatzmarkt doch nicht zu sein, oder warum habt ihr in über 2 Jahren noch nichts in der Region verkauft?


Da kann ein krofischchen noch so viel mit seinen, in seinen Augen vielleicht lustigen, Beiträgen von dem völligen Versagen Aquas ablenken, es ist für jeden offensichtlich der sich vor dem Kauf von Aktien nur ein wenig über den Laden informiert.

[krofisch]

Antwort auf Beitrag Nr.: 27.667.412 von wohinistmeinGeld am 12.02.07 20:18:03

Nicht Ablenken - LÜGE endlich zugeben!

Auf der Homepage habt ihr die Meldung über die Machbarkeitsstudie mit Coca Cola vom 20.10.05 ja gelöscht,


Ein Schelm ist, wer dies für eine wohinistmeinGeld-Lüge hält.

Ich habe die News auf der AQUA-Homepage gefunden:

unter
Meldungen
Aqua Society führt für Coca-Cola India eine Machbarkeitsstudie zur Wassergewinnung aus der Luft durch

- 20. Oktober 2005

Die Aqua Society, Inc. plant für Coca-Cola India

Was kannst du eigentlich?
Nicht mal einen Link richtig anklicken?
Oder: Brille Fielmann!

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.727.761 von krofisch am 15.02.07 18:06:26

dein Gequake interessiert mich einen Scheiß, gib mal Antworten, oder wurde dir das verboten weil man Angst hat du verplapperst dich noch öfters?

[Teddybear]

Antwort auf Beitrag Nr.: 27.727.865 von wohinistmeinGeld am 15.02.07 18:12:10

Vergiß die Anworten, dafür wurde der Spambot kr.exe nicht programmiert

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.728.127 von Teddybear am 15.02.07 18:23:42

ich werde ihn trotzdem immer wieder daran erinnern damit er mit seiner Reaktion allen Lesern hier zeigt wie sie ihn einzuschätzen haben.

[Borealis]

Antwort auf Beitrag Nr.: 27.727.761 von krofisch am 15.02.07 18:06:26

Danke, daß Du den Reinfall mit der Machbarkeitsstudie für Coca Cola nochmal reingestellt hast. Aqua hätte die Ergebnisse sicher auch gern veröffentlicht. Nur Pech, daß das Ergebnis vernichtend ausgefallen ist.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.729.174 von Borealis am 15.02.07 19:01:40

Ich hatte mal auf der Homepage einer anderen Firma einen Fehler entdeckt, nur 2 Zahlen vertauscht, aber das kann auch viel bedeuten. Ich hatte damals in einer MAil darauf aufmerksam gemacht und man hatte sich für meine Meldung bedankt.
Bei Aqua hat man es ja nicht mal nötig auf Mails zu antworten wenn man gerne Infomaterial hätte also wäre ein Mail sinnlos. Da aber Aqua durch Kasperfisch hier vertreten ist werden die Fehler auch zeitnah korrigiert.
Wobei das eigentlich gar nicht geht, die ganze Firma ist ein einziger Fehler und der kann nur korrigiert werden indem er vom Kurszettel verschwindet.

[krofisch]

Antwort auf Beitrag Nr.: 27.727.865 von wohinistmeinGeld am 15.02.07 18:12:10

dein Gequake interessiert mich einen Scheiß

Und genau deshalb lachen alle so laut über deine niedlichen Ergüsse

[krofisch]

Antwort auf Beitrag Nr.: 27.667.412 von wohinistmeinGeld am 12.02.07 20:18:03

Nicht Ablenken - LÜGE endlich zugeben!

Auf der Homepage habt ihr die Meldung über die Machbarkeitsstudie mit Coca Cola vom 20.10.05 ja gelöscht,


Ein Schelm ist, wer dies für eine wohinistmeinGeld-Lüge hält.

Ich habe die News auf der AQUA-Homepage gefunden:

unter
Meldungen
Aqua Society führt für Coca-Cola India eine Machbarkeitsstudie zur Wassergewinnung aus der Luft durch

- 20. Oktober 2005

Die Aqua Society, Inc. plant für Coca-Cola India

Was kannst du eigentlich?
Nicht mal einen Link richtig anklicken?
Oder: Brille Fielmann!

[krofisch]

Antwort auf Beitrag Nr.: 27.730.243 von wohinistmeinGeld am 15.02.07 19:39:42

Ich hatte mal auf der Homepage einer anderen Firma einen Fehler entdeckt,

Da haben andere aber in deinen Postings schon viel mehr Fehler entdeckt!

[westfale64]

#4826

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.747.586 von krofisch am 16.02.07 14:57:34

wenn ich mich mal vertippe interessiert das keinen, aber wenn ihr mit eurer Homepage als Weltfirma auftreten wollt um das große Geld zu machen und dann so dilettantisch arbeitet, das ist schon blamabel. Schräg eingescannte Zeitungsabschnitte und Wörter die über den Rand gehen oder Texte unter der falschen Überschrift, sowas habe ich noch auf keiner "professionellen" Homepage gesehen.

Aber das schlimmste ist natürlich wenn man seitenweise Meldungen von angeblichen Abschlüssen, Partnerschaften, Vereinbarungen und sonstiges PR-Geschwall fabriziert ohne daß auch nur eines davon eintrifft, wie z.B. diese über 2 Jahre alte Nachricht hier:

Anfrage von Alstom Marine für eine Abwasseraufbereitungsanlage

-29. November 2004-

Die Aquasociety hat von der Alstom Marine die Anfrage erhalten eine spezialisierte Abwasseraufbereitungsanlage zu entwerfen und ein Angebot für die Lieferung und Installation dieser Anlage zu erstellen. Die Anlage soll für ein Kreuzfahrtschiff mit einer Kapazität von 2900 Passagieren ausgelegt sein.

Woran hängt es denn? Ist es bei der Nachfrage beblieben und ihr hattet daran gar kein Interesse weil das mit Arbeit verbunden wäre? Einfach nur Aktien vertickern ist halt angenehmer.
Oder habt ihr es nicht geschafft eine brauchbare Anlage zu entwerfen?

[Teddybear]

Antwort auf Beitrag Nr.: 27.759.995 von wohinistmeinGeld am 16.02.07 20:33:44

Das mit dem Kreuzfahrtschiff... such mal die Stelle im Filing. Sie haben es ungefähr so ausgedrückt: Alstom Marine hat Aqua schon eine Weile nicht mehr geschrieben, so daß sie davon ausgehen, daß die das Interesse verloren haben

Wahrscheinlich hat Alstom Marine gemerkt, mit was für einer Möchtegernfirma sie es zu tun hatten.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.760.795 von Teddybear am 16.02.07 21:00:11

Eigentlich sind diese Antworten krofischchens Aufgabe, aber das übersteigt natürlich deutlich seine Fähigkeiten.

Mit Loick wird das höchstwahrscheinlich genauso kommen.

[wohinistmeinGeld]

Da war doch noch was vor fast 2 Jahren.

Im Fokus des Unternehmens aus Herten/NRW: Vermarktung deutscher Spitzentechnologie

- 11. April 2005 -

Mit einem eigenen Hauptstadtbüro will das Technologieunternehmen Aqua Society die Vermarktung seiner Spezialprodukte aus dem Bereich, Kälte, Wasser und Energie weiter vorantreiben. Von der Berliner Repräsentanz aus sollen nach dem Willen der Geschäftsführung zusätzliche Impulse zur Entwicklung weiterer Geschäftsfelder ausgehen. Auch die Lobbyarbeit der Aqua-Society-Gruppe wird seit April in der Bundeshauptstadt koordiniert.

Irgendwie klappt das mit dem Vorantreiben der Vermarktung der Spezialprodukte nicht. Die koordination der Lobbyarbeit Aquas ist aber auch verdammt schwierig bei der Unmenge von Spezialprodukten und Schlange stehenden Kunden. Und für die Entwicklung weiterer Geschäftsfelder ist da natürlich keine Zeit mehr. Vielleicht sollte man einfach noch mal 2 Leute einstellen, dann ist man mit 10 doch schon unter den Großen der Weltkonzerne.


Wir suchen die Nähe zu den Entscheidern in Politik, Wirtschaft und Verbänden, denn das Unternehmen Aqua-Society hat der Welt etwas anzubieten
http://www.aqua-society.com/news/d110405.html

Politik, Wirtschaft und Verbände suchen wohl eher das weite wenn sie Aqua hören, oder warum kommen da seit fast 2 Jahren keine Aufträge?


Aqua Society ???

[Teddybear]

Antwort auf Beitrag Nr.: 27.762.922 von wohinistmeinGeld am 16.02.07 22:29:04

Das "Joint Venture" mit Loick ist ja schon gecancelt. Der "Auftrag" wird wahrscheinlich noch durch ein paar Filings weitergeschleppt.

Wenn Du vom Forenkasper Antworten oder irgendwas sachliches erwartest bewundere ich Dich für Deine Hoffnung. Nach menschlichem Ermessen wird da immer nur Gepöbel und Spam kommen. Das ist sein Auftrag und was anderes kann er auch gar nicht.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.760.795 von Teddybear am 16.02.07 21:00:11

bei Alstom Marine sah das wohl so aus

[krofisch]

Antwort auf Beitrag Nr.: 27.759.995 von wohinistmeinGeld am 16.02.07 20:33:44

Nicht wieder Ablenken - 'LÜGE' endlich zugeben!

Auf der Homepage habt ihr die Meldung über die Machbarkeitsstudie mit Coca Cola vom 20.10.05 ja gelöscht,


Ein Schelm ist, wer dies für eine 'wohinistmeinGeld-Lüge' hält.

Ich habe die News auf der AQUA-Homepage gefunden:

unter
Meldungen
Aqua Society führt für Coca-Cola India eine Machbarkeitsstudie zur Wassergewinnung aus der Luft durch

- 20. Oktober 2005

Die Aqua Society, Inc. plant für Coca-Cola India

Was kannst du eigentlich?
Nicht mal einen Link richtig anklicken?
Oder: Brille Fielmann!

[westfale64]

Fällt Ihnen, krofisch, auch nach Jahren bestellter Pushertätigkeit immer noch nicht ein, wie Sie diese vielen Auftragsmärchen, denen nachweislich noch nie ein Geschäft folgte, erklären sollen ?


Aquas Auftragslügen:
„04.04.2005 - Moderne Klimatechnik für den längsten Tunnel der Welt UMSATZ:0
13.04.2005 - Trinkwasser aus der Luft: Pilotprojekt in Dubai erfolgreich gestartet UMSATZ:0
26.04.2005 - Aqua Society erwirbt weltweiten Vertrieb eines Vakuum-Trennverfahrens für lösemittelhaltige Wässer UMSATZ:0
04.05.2005 - Aqua Society-Gruppe liefert vier Großkälteanlagen ins Reich der Mitte UMSATZ:0
11.05.2005 - Bergbautechnik von Aqua Society ist weltweit gefragt UMSATZ:0
19.05.2005 - Globaler Vertrieb für Kohlenbergbau-Klimatisierung / Exklusivvertrag zur weltweiten Vermarktung unterzeichnet UMSATZ:0
13.06.2005 - Aqua Society verhandelt mit Elfenbeinküste über zusätzlichen Auftrag von 2,8 Millionen Euro UMSATZ: 0
20.06.2005 - Aqua Society als offizieller Lieferant der Vereinten Nationen registriert UMSATZ: 0
31.08.2005 - Aqua Society erhält Auftrag über 2,1 Millionen Euro UMSATZ: 0
20.09.2005 - Aqua Society liefert Bergbautechnik nach Polen UMSATZ: 0
22.09.2005 - Aqua Society gewinnt Vertriebspartner für den Jemen UMSATZ: 0
20.10.2005 - Aqua Society führt für Coca-Cola India eine Machbarkeitsstudie zur Wassergewinnung aus der Luft durch UMSATZ: 0
GELOGEN: KEIN EINZIGES GESCHÄFT KAM ZUSTANDE. UND DAS NACH EINEM DUTZEND “AUFTRAGS”-ANKÜNDIGUNGEN





Hier die neuen Aqua-Märchen, die krofisch so gerne zitiert:
Aquas Werbung:
28.04.2006 - 12:32 Uhr, Aqua Society, Inc. [Pressemappe]
Aqua Society erhält Auftrag zur Klimatisierung und Trinkwasserversorgung einer Wohnanlage in Indien
Realität: 0 Umsatz
Aquas Auftragslüge Nr. 13 (oder war es schon die 14.?) nach Elfenbeinküste,Jemen, Dubai,China......(s.Aquas Homepage)
Keiner hat Aqua oder davor miningtec je auch nur einen einzigen Euro für Hamms unwirtschaftliches Gerät bezahlt.




Aquas Werbung:
21.04.2006 - 10:14 Uhr, Aqua Society, Inc. [Pressemappe]
Aqua Society: More Power Energie bestellt Anlage zur Stromerzeugung aus Niedertemperaturwärme

Realität: 0 Umsatz
Eine “More Power GmbH” in Düsseldorf existierte bis vor kurzem nur “in Gründung”. Und ausgerechnet eine neu (von Hamm?)gegründete GmbH soll jetzt den Schrott ausHamms Wasserbuden Aqua und miningtec kaufen, den seit 4 Jahren keiner haben will. . Aber nach Aquas vielen anderen Auftragslügen werden die Lemminge das auch nicht merken.




Aquas Werbung:
19.04.2006 - 14:30 Uhr, Aqua Society, Inc. [Pressemappe]
Aqua Society, Loick und ODAS gründen Joint Venture

Realität: 0 Umsatz
Klingt aber gut zum Geldholen bei den Dummen, genau wie das “Vertriebspartner”-Märchen aus dem Jemen.




Aquas Werbung:
07.04.2006 - 08:50 Uhr, Aqua Society, Inc. [Pressemappe]
Aqua Society: Aus Niedrigtemperaturwärme wirtschaftlich Strom gewinnen

Realität: 0 Umsatz
Wie unwirtschaftlich der Aqua-Schrott ist wurde ja bereits hinreichend dargelegt. Deshalb kauft ihn ja auch keiner




Aquas Werbung:
22.03.2006 - 09:01 Uhr, Aqua Society, Inc. [Pressemappe]
Weltwassertag 2006: Aqua Society erschließt neue Wege der Trinkwasserversorgung

Realität: 0 Umsatz auch beim Weltwassertag



Aquas Werbung:
12.03.2006 - 10:19 Uhr, Aqua Society, Inc. [Pressemappe]
Strom aus Abwärme: Aqua Society erhält Auftrag der Loick AG zur Lieferung einer Wärme-Kraft-Kopplungseinheit

Realität: 0 Umsatz
Das 15. Auftragsmärchen, dem keine Geschäfte folgen.



Aquas Werbung:
13.02.2006 - 10:19 Uhr, Aqua Society, Inc. [Pressemappe]
Aqua Society gibt drei Private Placements über insgesamt 1,9 Millionen Euro bekannt

Realität:
Aqua hat wieder einen Dummen gefunden, der für sein Wassermärchen Geld schickt. Die unbrauchbare Maschine läßt sich dadurch aber auch nicht verkaufen.




Aquas Werbung:
08.02.2006 - 17:33 Uhr, Aqua Society, Inc. [Pressemappe]
Aqua Society steigt mit Dr. Wladimir Klitschko in den Ring

Realität:
Wieviel haben die Aktionäre für diese unsinnige Werbung bezahlt, die auch niemanden dazu bringen wird für die Gewinnung eines Kubikmeters Wasser 30 Euro auszugeben (Aqua-Maschine) während konventionelle Methoden nur maximal 1 Euro kosten(Meerwasserentsalzung)
?


Aquas Werbung:
27.01.2006 - 15:09 Uhr, Aqua Society, Inc. [Pressemappe]
Aktionärsbrief der Aqua Society, Inc.: Energie aus Abwärme erschließt neue Märkte

Realität:
0 Umsatz bei allen 3 “Geschäftsfeldern” Aquas “Aquamission”, “Thermomission” und “Energymission”
Klingt aber gut als Verkaufsargument für die Altaktien. Und darum geht es den Aqua-Gründern schließlich.
Genauso wie Hamm 2002 mit der OTC-Hülle miningtec 10 Mio. wertlose Inhaberschuldverschreibungen an die Dummen verkaufte versucht er jetzt 100 Mio. wertlose Altaktien der Pleitefirma Vgtech (2004 von Hamm für 50000 gekauft und in Aqua Society umbenannt) an die Dummen zu verkaufen.
Das Märchen ist dasselbe wie 2002. Nur nennt Hamm die Wasser-aus-Luft-Maschine jetzt “Aquamission”. Vor 4 jahren nannte er sie “Hydroflow”. Verkaufen konnte er auch damals keine einzige.

[westfale64]

Und mit welcher Haftstrafe rechnen Sie selbst wegen Beihilfe zum Betrug ?
Oder glauben Sie etwa der Staatsanwalt fände Sie nicht über Ihre IP-Adresse ?

[krofisch]

Antwort auf Beitrag Nr.: 27.773.715 von westfale64 am 17.02.07 12:58:18

[krofisch]

Antwort auf Beitrag Nr.: 27.773.667 von westfale64 am 17.02.07 12:55:20

Man wird dich bestimmt bald für den 'von-Münchhausen-' und den 'Pinochio-Preis' vorschlagen!

[krofisch]

Antwort auf Beitrag Nr.: 27.773.667 von westfale64 am 17.02.07 12:55:20

Die wie vielte Wiederholung deiner vorsätzlichen und falschen westfale64-Behauptungen ist dies eigentlich?

Es ist einfach herrlich, wie sehr du dich Ärgern kannst.
Nur Schade, dass keiner mehr deine täglichen Wiederholungs-Spam-Postings mehr liest.
Ernst nehmen tut sie eh keiner mehr.
Deine täglichen Wunsch-Träume sind einfach goldig und führen bei allen immer wieder zu reinsten Lachkrämpfen!

[krofisch]

Antwort auf Beitrag Nr.: 27.773.715 von westfale64 am 17.02.07 12:58:18

Früher hat man über D + D gelacht, heute kann man täglich hier über W + W lachen

[Keatanu]

Antwort auf Beitrag Nr.: 27.773.866 von krofisch am 17.02.07 13:08:11

Du scheinst der Wirklichkeit entrückt zu sein, wenn Du über die Tatsachen, über die alle anderen berichten, lachen kannst. Das muss schon weh tun!



Und wer glaubt mit diesem rosa Papier (mehr ist es ja nicht) Gewinne zu machen, der sollte doch lieber mal nach Optionsscheinen von DAX-Unternehmen Ausschau halten. Da ist zur Zeit weit mehr drin und die Informationspolitik dieser Unternehmen entspricht der Wahrheit.

[Konstolane]

Antwort auf Beitrag Nr.: 27.780.408 von Keatanu am 17.02.07 17:42:30

unser K ofisch ist halt ein bissel K ank

[westfale64]

Aquas Auftragslügen:
„04.04.2005 - Moderne Klimatechnik für den längsten Tunnel der Welt UMSATZ:0
13.04.2005 - Trinkwasser aus der Luft: Pilotprojekt in Dubai erfolgreich gestartet UMSATZ:0
26.04.2005 - Aqua Society erwirbt weltweiten Vertrieb eines Vakuum-Trennverfahrens für lösemittelhaltige Wässer UMSATZ:0
04.05.2005 - Aqua Society-Gruppe liefert vier Großkälteanlagen ins Reich der Mitte UMSATZ:0
11.05.2005 - Bergbautechnik von Aqua Society ist weltweit gefragt UMSATZ:0
19.05.2005 - Globaler Vertrieb für Kohlenbergbau-Klimatisierung / Exklusivvertrag zur weltweiten Vermarktung unterzeichnet UMSATZ:0
13.06.2005 - Aqua Society verhandelt mit Elfenbeinküste über zusätzlichen Auftrag von 2,8 Millionen Euro UMSATZ: 0
20.06.2005 - Aqua Society als offizieller Lieferant der Vereinten Nationen registriert UMSATZ: 0
31.08.2005 - Aqua Society erhält Auftrag über 2,1 Millionen Euro UMSATZ: 0
20.09.2005 - Aqua Society liefert Bergbautechnik nach Polen UMSATZ: 0
22.09.2005 - Aqua Society gewinnt Vertriebspartner für den Jemen UMSATZ: 0
20.10.2005 - Aqua Society führt für Coca-Cola India eine Machbarkeitsstudie zur Wassergewinnung aus der Luft durch UMSATZ: 0
GELOGEN: KEIN EINZIGES GESCHÄFT KAM ZUSTANDE. UND DAS NACH EINEM DUTZEND “AUFTRAGS”-ANKÜNDIGUNGEN

Wenn Aqua das schon nicht erklären kann/will, wie soll es dann k?

[krofisch]

Antwort auf Beitrag Nr.: 27.803.745 von westfale64 am 18.02.07 18:43:15

Früher hat man über D + D gelacht, heute kann man täglich hier über W + W lachen

[krofisch]

Antwort auf Beitrag Nr.: 27.803.745 von westfale64 am 18.02.07 18:43:15

Warum erinnert mich das immer an ein Hassposting eines ehemaligen Hamm-Mitarbeiters, der heute evtl. von Hartz IV lebt?

[krofisch]

Antwort auf Beitrag Nr.: 27.803.745 von westfale64 am 18.02.07 18:43:15

Es ist einfach herrlich, wie sehr du dich Ärgern kannst.
Nur Schade, dass keiner mehr deine täglichen Wiederholungs-Spam-Postings mehr liest.
Ernst nehmen tut sie eh keiner mehr.
Deine täglichen Wunsch-Träume sind einfach goldig und führen bei allen immer wieder zu reinsten Lachkrämpfen!

[krofisch]

Antwort auf Beitrag Nr.: 27.803.745 von westfale64 am 18.02.07 18:43:15

Man wird dich bestimmt bald für den \'von-Münchhausen-\' und den \'Pinochio-Preis\' vorschlagen!

[krofisch]

Antwort auf Beitrag Nr.: 27.803.745 von westfale64 am 18.02.07 18:43:15

Die kleine niedliche westfale64-Welt:
KEIN EINZIGES GESCHÄFT KAM ZUSTANDE


Die Wirklichkeit:
Und deshalb hat AQUA im letzten Geschäftsjahr $2,203,763 Umsatz gemacht!

[westfale64]

Antwort auf Beitrag Nr.: 27.805.885 von krofisch am 18.02.07 20:08:03

"$2,203,763 Umsatz"
Sie wissen genau, dass Aqua diesen "Umsatz" nur über die sogenannten "HVAC&R-Services"- also mit gewöhnlichen Ingenieursleistungen- gemacht hat und dass alleine die "cost of goods" für dieses Schwachsinnsgeschäft die Umsätze bei weitem überstiegen. Da diese "Umsätze" mit Hamms eigener Firma stattfanden wissen wir also, dass er die Aktionäre nicht nur mit überzogenen Vorstandsgehältern und Millionenprovisionen an sich selbst , die jeder im Quartalsbericht nachlesen kann, über den Tisch zieht sondern auch noch durch verlustbringende Umsätze mit sich selbst.


Kein einziger dieser "Aufträge" führte irgendwann in den letzten Jahren zu einem Verkauf mit tatsächlicher Bezahlung einer Maschine. Und deswegen können auch die von Aqua bestellten Forenpusher keinen herbeilügen:

„04.04.2005 - Moderne Klimatechnik für den längsten Tunnel der Welt UMSATZ:0
13.04.2005 - Trinkwasser aus der Luft: Pilotprojekt in Dubai erfolgreich gestartet UMSATZ:0
26.04.2005 - Aqua Society erwirbt weltweiten Vertrieb eines Vakuum-Trennverfahrens für lösemittelhaltige Wässer UMSATZ:0
04.05.2005 - Aqua Society-Gruppe liefert vier Großkälteanlagen ins Reich der Mitte UMSATZ:0
11.05.2005 - Bergbautechnik von Aqua Society ist weltweit gefragt UMSATZ:0
19.05.2005 - Globaler Vertrieb für Kohlenbergbau-Klimatisierung / Exklusivvertrag zur weltweiten Vermarktung unterzeichnet UMSATZ:0
13.06.2005 - Aqua Society verhandelt mit Elfenbeinküste über zusätzlichen Auftrag von 2,8 Millionen Euro UMSATZ: 0
20.06.2005 - Aqua Society als offizieller Lieferant der Vereinten Nationen registriert UMSATZ: 0
31.08.2005 - Aqua Society erhält Auftrag über 2,1 Millionen Euro UMSATZ: 0
20.09.2005 - Aqua Society liefert Bergbautechnik nach Polen UMSATZ: 0
22.09.2005 - Aqua Society gewinnt Vertriebspartner für den Jemen UMSATZ: 0
20.10.2005 - Aqua Society führt für Coca-Cola India eine Machbarkeitsstudie zur Wassergewinnung aus der Luft durch UMSATZ: 0







Aber für diese Täuschung der Anleger gibt es vor Gericht die Quittung. Wieviele Altaktien haben Hamm und Stamm denn mittlerweile mit Hilfe Ihrer diversen Lügen in den Aqua-Threads bei den Lemmingen abgeladen ?

[westfale64]

#4540: Die ganze Aqua-Aktionärsverdummung, die weder Aqua nch seine Pusher erklären können.


Zur Erinnerung, da es schon wieder dutzende Seiten nach hinten gerutscht ist:

Aus Aquas aktuellem Quartalsbericht:

„Although we have received orders for our Thermomobile, Aquamission and Yellow Box products, we have not yet earned any revenues from the sale of those products“

Den Aqua –Schrott konnte Hamm also noch nie verkaufen. Und in der Zukunft will Aqua sich auch gar nicht mehr mit diesem Wasser-aus-Luft-Quatsch befassen, wie sie selbst schreiben:

„With respect to our Aquamission product, we had previously been working to upgrade the taste of the water produced by the Aquamission to “mineral water” quality. However, we have re-assessed this project and we no longer intend to proceed with this development.“




Und hier die katastrophalen Zahlen dieser 8-Mann-Bude aus dem aktuellen Quartalsbericht, die die Pusher so gern verschweigen:

„Net Loss : 2005: $ 23,982,914
2006: $ 3,842,485
„However, we have not yet achieved profitable operations, have accumulated losses of $29,892,239 since our inception and we expect to continue to incur substantial losses in the foreseeable Future as we continue to develop our business. As a result, our auditors stated in their report for our fiscal year ended September 30, 2005 that a substantial doubt exists as to our ability to continue as a going concern.“
„Working Capital Defizit 2006: $ 1,354,326“

29 Mio. Gesamtverlust und 1,3 Mio. Fehlkapital. Und wohin das Aktionärsgeld neben den „Berater“-Zahlungen geflossen ist schreibt Aqua auch –nämlich mittels „management fees“an die eigenen(!)Vorstände Hamm und Stamm:

„We incurred management fees of $640,939 during the nine months ended June 30, 2006. The majority of these fees were for amounts charged under a management consulting contract with Stamm & Lang Rechtsanwalte, a German law firm of which Achim Stamm, our former Chief Financial Officer, Secretary, Treasurer and a former director, is a partner. Also included in management fees are amounts charged under a management consulting contract with Hubert Hamm, a managing director of Aqua GmbH, and the lead consultant for research and development for Aqua GmbH’s HVAC&R department.“

Und die Insolvenz hat Aqua auch gleich angekündigt -aber nicht auf der Homepage, sondern in den Quartalsberichten. Die lesen die Lemminge ja nicht, sonst wüssten sie was hier gespielt wird:

„a substantial doubt exists as to our ability to continue as a going concern.“






Abzocke vom Feinsten. Und die Aqua-Aktionäre haben nichts kapiert. Deshalb wird mit dem 3. Anlegermärchen „Energymission“ und krofischs Bastelbudenfotos aus Hamms Keller gleich wieder Anlegergeld eingesammelt, damit die Aqua-Gründer auch in der Zukunft wieder diese Anlegergelder in Form von „Berater“-Provisionen und „management fees“ einsacken können.
Und –wie schon beim unverkäuflichen „Aquamission“- gibt es von Aqua auch die passende Erklärung dieser tollen Technik, die seit 1 Jahr auch wieder keiner kauft:




Mit Übersetzung:


„Aus heißer Luft wird Strom“(Aus Aquas heisser Luft werden nur Aktionärsgelder zum Verbraten generiert)

„Aqua Society GmbH hat ein Verfahren entwickelt, bei dem aus Abwärme im niedrigen Temperaturbereich Strom erzeugt werden kann“Das ist zwar eine 100 Jahre alte Technik, aber die Aqua-Lemminge haben sich den Kondensationsprozess bei „Aquamission“ auch als tolle Erfindung andrehen lassen.

„Das Hertener Unternehmen hat zum einen Geräte entwickelt, mit denen Trinkwasser aus der Luft gewonnen werden kann. "Die Technologie ist fertig und wird 2007 in den Markt eingeführt"
Mit „Hertener Unternehmen“ ost wohl die OTC-Bude Aqua-Society inc. gemeint bei der die Aktionärsgelder versickern. Praktisch, da diese Abzocktruppe im fernen Amerika nicht so einfach verklagt werden kann.Das Wasser-aus-Luft-Fliwatüt hat Hamm seit 2002 fertig und kriegt es seitdem nicht verkauft.

„Denn eine Studie des Fraunhofer Instituts im Auftrag der Aqua Society hat ergeben, dass weltweit Wärme "weggeschmissen wird"
Und genau wie bei Aquas Wasser-aus-Luft-Märchen „Aquamission“ wirbt Hamm wieder mit einem Fraunhofer-Gutachten ohne zu erwähnen, dass das Fraunhofer –Institut keine der Aqua-„Erfindungen“ begutachtet hat. Aber zum Aktienverticken bei den Dummen ist der Spruch zu gebrauchen. Und nur darum geht es .



„Jetzt steht das Hertener Unternehmen in Verhandlungen mit einem großen Energieversorger und einem Aluminiumwerk. Hamm: "Die Langzeitversuche sind gelaufen, jetzt starten wir Pilotprojekte."
Verhandelt wird bei Aqua seit Jahren und „Pilotprojekte“, „Probebetriebe“ u.ä. kennen wir schon von den anderen Lemmingmärchen . Gekauft hat aber noch niemand (s.o.)

[krofisch]

Antwort auf Beitrag Nr.: 27.806.619 von westfale64 am 18.02.07 20:52:07

Es ist einfach herrlich, wie sehr du dich Ärgern kannst.
Nur Schade, dass keiner mehr deine täglichen Wiederholungs-Spam-Postings mehr liest.
Ernst nehmen tut sie eh keiner mehr.
Deine täglichen Wunsch-Träume sind einfach goldig und führen bei allen immer wieder zu reinsten Lachkrämpfen!

[krofisch]

Antwort auf Beitrag Nr.: 27.806.351 von westfale64 am 18.02.07 20:38:53

"$2,203,763 Umsatz"

Endlich hat selbst westfale64 den Umsatz entdeckt!

[krofisch]

Antwort auf Beitrag Nr.: 27.806.351 von westfale64 am 18.02.07 20:38:53

Man wird dich bestimmt bald für den \\'von-Münchhausen-\\' und den \\'Pinochio-Preis\\' vorschlagen!

[krofisch]

Antwort auf Beitrag Nr.: 27.806.351 von westfale64 am 18.02.07 20:38:53

Warum erinnert mich das nur immer an ein Hassposting eines ehemaligen Hamm-Mitarbeiters, der heute evtl. von Hartz IV lebt?

[krofisch]

Antwort auf Beitrag Nr.: 27.806.619 von westfale64 am 18.02.07 20:52:07

Früher hat man über D + D gelacht, heute kann man täglich hier über W + W lachen

[Teddybear]

Der Forenkasper pöbelt heute nur abends. Tagsüber wird noch am Quartalsbericht geschraubt, das erfordert alle Mann dieser Weltfirma.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.831.158 von Teddybear am 19.02.07 19:18:48

ich dachte eigentlich der Forenkasper blödelt heute beim Fasching rum, immerhin stecken die mitten in der Faschingshochburg, aber wahrscheinlich will nicht mal da einer was von ihm wissen.

[krofisch]

Antwort auf Beitrag Nr.: 27.831.495 von wohinistmeinGeld am 19.02.07 19:26:54

Nicht wieder Ablenken - \'LÜGE\' endlich zugeben!


Auf der Homepage habt ihr die Meldung über die Machbarkeitsstudie mit Coca Cola vom 20.10.05 ja gelöscht,

Ein Schelm ist, wer dies für eine \'wohinistmeinGeld-Lüge\' hält.

Ich habe die News auf der AQUA-Homepage gefunden:

unter
Meldungen
Aqua Society führt für Coca-Cola India eine Machbarkeitsstudie zur Wassergewinnung aus der Luft durch

- 20. Oktober 2005

Die Aqua Society, Inc. plant für Coca-Cola India

Was kannst du eigentlich?
Nicht mal einen Link richtig anklicken?
Oder: Brille Fielmann!

[krofisch]

Antwort auf Beitrag Nr.: 27.831.495 von wohinistmeinGeld am 19.02.07 19:26:54

In deiner Stadt gab es heute bestimmt einen Kamelle-Wagen mit folgender Aufschrift:

von wohinistmeinGeld (10.07.04 23:54:21)
betrifft Aktie: BAVARIAN NORDIC AS
wo mein Geld ist weiß ich übrigens trotzdem nicht, ich weiß nur das es weg ist

von wohinistmeinGeld (06.07.04 22:55:21)
betrifft Aktie: BAVARIAN NORDIC AS
... Ich bin schon oft genug darauf reingefallen, ich glaube es wird Zeit zu kündigen. Was treiben die eigentlich den ganzen Tag für Ihr Geld?

[krofisch]

Antwort auf Beitrag Nr.: 27.831.495 von wohinistmeinGeld am 19.02.07 19:26:54

Du NICHTSWISSER weist ja noch nicht einmal, wer ich bin, wo ich wohne oder arbeite!

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.830.691 von krofisch am 19.02.07 19:06:59

Wieviel des Umsatz ist durch den Verkauf von Wassermaschinen, Klimaanlagen, Abwasseraufbereitungsanlage oder Energiesparmodul

Vielleicht hält man es ja geheim, daß Alstom Marine, UN, Rotes Kreuz, Scheichs, Elfenbeinküste oder sonst jemand was gekauft hat.
Könnte ja sein, daß alle bei Aqua so bescheiden sind wie krofisch und nicht mit einem erfolgreichen Geschäftsabschluß prahlen wollen

[krofisch]

Antwort auf Beitrag Nr.: 27.831.928 von wohinistmeinGeld am 19.02.07 19:40:14

Weviel deines Geldes (Zitat: wohinistmeinGeld: wo mein Geld ist weiß ich übrigens trotzdem nicht, ich weiß nur das es weg ist) hast da eigentlich verloren?

[krofisch]

Antwort auf Beitrag Nr.: 27.831.928 von wohinistmeinGeld am 19.02.07 19:40:14

Wie oft bist du da (Zitat: wohinistmeinGeld: Ich bin schon oft genug darauf reingefallen, ich glaube es wird Zeit zu kündigen.) denn schon reingefallen?

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.831.734 von krofisch am 19.02.07 19:34:03

das ist doch eigentlich ein Aqua Thread, was haben hier Beiträge von Bavarian zu tun? Wenn du was zu Bavarian Nordic zu sagen hast, dann geh dort in den Thread, oder erkläre mal den Zusammenhang zu Aqua wenn du schon meinst es hier her kopieren zu müssen.

Oder glaubst du die Leser hier sind alle so blöd und merken nicht, daß du mit deinem seltsamen Kopiergehabe nur vom völligen Versagen deines Ladens ablenken willst?

[krofisch]

Antwort auf Beitrag Nr.: 27.831.928 von wohinistmeinGeld am 19.02.07 19:40:14

Nicht wieder Ablenken - \\'LÜGE\\' endlich zugeben!

Auf der Homepage habt ihr die Meldung über die Machbarkeitsstudie mit Coca Cola vom 20.10.05 ja gelöscht,

Ein Schelm ist, wer dies für eine \\'wohinistmeinGeld-Lüge\\' hält.

Ich habe die News auf der AQUA-Homepage gefunden:

unter
Meldungen
Aqua Society führt für Coca-Cola India eine Machbarkeitsstudie zur Wassergewinnung aus der Luft durch

- 20. Oktober 2005

Die Aqua Society, Inc. plant für Coca-Cola India

Was kannst du eigentlich?
Nicht mal einen Link richtig anklicken?
Oder: Brille Fielmann!

[krofisch]

Antwort auf Beitrag Nr.: 27.832.370 von wohinistmeinGeld am 19.02.07 19:49:39

das ist doch eigentlich ein Aqua Thread, was haben hier Beiträge von wohinistmeinGeld zu tun?

[krofisch]

Antwort auf Beitrag Nr.: 27.832.370 von wohinistmeinGeld am 19.02.07 19:49:39

Getroffene Hunde bellen besonders laut!

[krofisch]

Antwort auf Beitrag Nr.: 27.832.370 von wohinistmeinGeld am 19.02.07 19:49:39

Oder glaubst du die Leser hier sind alle so blöd
.... nur wenn sie evtl. die wohinistmeinGeld-Postings noch lesen?

[krofisch]

Antwort auf Beitrag Nr.: 27.831.158 von Teddybear am 19.02.07 19:18:48

Der Forenkasper pöbelt heute nur abends.

Wenn du den hier

#4871 von Teddybear 19.02.07 19:18:48 Beitrag Nr.: 27.831.158

meinst, könntest du sogar ausnahmsweise Recht haben!

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.832.317 von krofisch am 19.02.07 19:48:36

Im Unterschied zu dir bin ich lernfähig.
Würdest du nicht in betrügerischer Weise Postings fälschen durch weglassen von Details, dann könnte man ohne weiteres erkennen, daß es sich dabei um Aussagen handelt die vor 8-10 Jahren ihre Gültigkeit hatten.
Vielleicht wäre ich vor 10 Jahren auch mal auf die Verarschungen Aquas rein gefallen, aber die Zeiten sind längst vorbei.

[wohinistmeinGeld]

JA krofischchen, wie wäre es denn zwischendurch mal mit etwas Sachlichkeit oder bringst du gar nichts mehr sinnvolles zusammen.

Was ist z.B. damit
----------------------------
Meldungen
Aqua Society erhält Zuschlag für mobile Kühlcontainer
-21.Dezember 2004-

BS Technik GmbH bestellt 15 Thermomobile für Saudi-Arabien und Thailand

Die Aqua Society GmbH, wird im Auftrag der BS Technik GmbH aus Nettetal insgesamt 15 Thermomobile an den Persischen Golf und nach Südostasien liefern. Das teilte das Unternehmen in Herten mit.
-------------------------------

Wieviele der 15 St sind inzwischen geliefert? Ist immerhin über 2 Jahre her.

Oder wenn sie geliefert sind, warum tauchen sie in keinem Bericht auf, ist das auch die Bescheidenheit

War die Bestellung überhaupt echt oder nur gelogen
Wenn sie echt war und storniert wurde, warum wird das dann nicht auf eurer Homepage raus genommen? Wollt ihr damit immer noch den Anschein erwecken der Auftrag hätte noch Gültigkeit?

Oder wenn die Bestellung storniert wurde und ihr wollt die News trotzdem stehen lassen, dann gibt es meiner Meinung nach auch die Verpflichtung die Stornierung zu veröffentlichen.

Wenn storniert wurde, dann wäre für die Aktionäre auch interessant zu wissen, warum.
Aber was interessieren euch die Aktionäre, die sollen Aktien kaufen und sonst das Maul halten. Informationspflicht gilt für Aqua wohl nicht.

Wenn nicht storniert ist, warum wird dann nichts geliefert, woran klemmt es und wann wird geliefert, gibt es einen geplanten Termin.


Mir ist schon klar, daß darauf wieder kaum eine Chance auf Antwort besteht, geht ja auch nicht, entweder müßte man den Betrug zugeben da frei erfunden, oder die Unfähigkeit ein Geschäft zu Ende zu bringen.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.832.430 von krofisch am 19.02.07 19:50:48

woran mag es nur liegen, daß ihr eure homepage nicht in Ordnung halten könnt?
Dilettantenhaufen eben.

Überschrift
04.05.2005 - Aqua Society-Gruppe liefert vier Großkälteanlagen
ins Reich der Mitte

Und dann kann man was über den Gotthard-Tunnel lesen.
Ich hätte jetzt gedacht mit dem "Reich der Mitte" ist China gemeint, aber vielleicht meint Aqua damit,- mitten in Gotthard.

http://www.aqua-society.com/news/pressemitt.html

schnell nachlesen, wenn krofischchen es sieht wird es schnell geändert und morgen hat er dann wieder die große Klappe von wegen nie falsch auf der Homepage eingestellt.

[westfale64]

#4540: Die ganze Aqua-Aktionärsverdummung, die weder Aqua nch seine Pusher erklären können.


Zur Erinnerung, da es schon wieder dutzende Seiten nach hinten gerutscht ist:

Aus Aquas aktuellem Quartalsbericht:

„Although we have received orders for our Thermomobile, Aquamission and Yellow Box products, we have not yet earned any revenues from the sale of those products“

Den Aqua –Schrott konnte Hamm also noch nie verkaufen. Und in der Zukunft will Aqua sich auch gar nicht mehr mit diesem Wasser-aus-Luft-Quatsch befassen, wie sie selbst schreiben:

„With respect to our Aquamission product, we had previously been working to upgrade the taste of the water produced by the Aquamission to “mineral water” quality. However, we have re-assessed this project and we no longer intend to proceed with this development.“



Und hier die katastrophalen Zahlen dieser 8-Mann-Bude aus dem aktuellen Quartalsbericht, die die Pusher so gern verschweigen:

„Net Loss : 2005: $ 23,982,914
2006: $ 3,842,485
„However, we have not yet achieved profitable operations, have accumulated losses of $29,892,239 since our inception and we expect to continue to incur substantial losses in the foreseeable Future as we continue to develop our business. As a result, our auditors stated in their report for our fiscal year ended September 30, 2005 that a substantial doubt exists as to our ability to continue as a going concern.“
„Working Capital Defizit 2006: $ 1,354,326“

29 Mio. Gesamtverlust und 1,3 Mio. Fehlkapital. Und wohin das Aktionärsgeld neben den „Berater“-Zahlungen geflossen ist schreibt Aqua auch –nämlich mittels „management fees“an die eigenen(!)Vorstände Hamm und Stamm:

„We incurred management fees of $640,939 during the nine months ended June 30, 2006. The majority of these fees were for amounts charged under a management consulting contract with Stamm & Lang Rechtsanwalte, a German law firm of which Achim Stamm, our former Chief Financial Officer, Secretary, Treasurer and a former director, is a partner. Also included in management fees are amounts charged under a management consulting contract with Hubert Hamm, a managing director of Aqua GmbH, and the lead consultant for research and development for Aqua GmbH’s HVAC&R department.“

Und die Insolvenz hat Aqua auch gleich angekündigt -aber nicht auf der Homepage, sondern in den Quartalsberichten. Die lesen die Lemminge ja nicht, sonst wüssten sie was hier gespielt wird:

„a substantial doubt exists as to our ability to continue as a going concern.“






Abzocke vom Feinsten. Und die Aqua-Aktionäre haben nichts kapiert. Deshalb wird mit dem 3. Anlegermärchen „Energymission“ und krofischs Bastelbudenfotos aus Hamms Keller gleich wieder Anlegergeld eingesammelt, damit die Aqua-Gründer auch in der Zukunft wieder diese Anlegergelder in Form von „Berater“-Provisionen und „management fees“ einsacken können.
Und –wie schon beim unverkäuflichen „Aquamission“- gibt es von Aqua auch die passende Erklärung dieser tollen Technik, die seit 1 Jahr auch wieder keiner kauft:




Mit Übersetzung:


„Aus heißer Luft wird Strom“(Aus Aquas heisser Luft werden nur Aktionärsgelder zum Verbraten generiert)

„Aqua Society GmbH hat ein Verfahren entwickelt, bei dem aus Abwärme im niedrigen Temperaturbereich Strom erzeugt werden kann“Das ist zwar eine 100 Jahre alte Technik, aber die Aqua-Lemminge haben sich den Kondensationsprozess bei „Aquamission“ auch als tolle Erfindung andrehen lassen.

„Das Hertener Unternehmen hat zum einen Geräte entwickelt, mit denen Trinkwasser aus der Luft gewonnen werden kann. "Die Technologie ist fertig und wird 2007 in den Markt eingeführt"
Mit „Hertener Unternehmen“ ost wohl die OTC-Bude Aqua-Society inc. gemeint bei der die Aktionärsgelder versickern. Praktisch, da diese Abzocktruppe im fernen Amerika nicht so einfach verklagt werden kann.Das Wasser-aus-Luft-Fliwatüt hat Hamm seit 2002 fertig und kriegt es seitdem nicht verkauft.

„Denn eine Studie des Fraunhofer Instituts im Auftrag der Aqua Society hat ergeben, dass weltweit Wärme "weggeschmissen wird"
Und genau wie bei Aquas Wasser-aus-Luft-Märchen „Aquamission“ wirbt Hamm wieder mit einem Fraunhofer-Gutachten ohne zu erwähnen, dass das Fraunhofer –Institut keine der Aqua-„Erfindungen“ begutachtet hat. Aber zum Aktienverticken bei den Dummen ist der Spruch zu gebrauchen. Und nur darum geht es .



„Jetzt steht das Hertener Unternehmen in Verhandlungen mit einem großen Energieversorger und einem Aluminiumwerk. Hamm: "Die Langzeitversuche sind gelaufen, jetzt starten wir Pilotprojekte."
Verhandelt wird bei Aqua seit Jahren und „Pilotprojekte“, „Probebetriebe“ u.ä. kennen wir schon von den anderen Lemmingmärchen . Gekauft hat aber noch niemand (s.o.)








Zu dieser Aktionärsabzocke fällt Aquas Pusher seit Jahren nichts ein. Deshalb kann er solche kritischen Fragen nur seitenlang zumüllen.

[krofisch]

Antwort auf Beitrag Nr.: 27.833.097 von wohinistmeinGeld am 19.02.07 20:04:17

wohinistmeinGeld-'Wahrkeit':
...dann könnte man ohne weiteres erkennen, daß es sich dabei um Aussagen handelt die vor 8-10 Jahren ihre Gültigkeit hatten.


Und hier die Realität:
von wohinistmeinGeld (10.07.04 23:54:21)
betrifft Aktie: BAVARIAN NORDIC AS
wo mein Geld ist weiß ich übrigens trotzdem nicht, ich weiß nur das es weg ist

von wohinistmeinGeld (06.07.04 22:55:21)
betrifft Aktie: BAVARIAN NORDIC AS
... Ich bin schon oft genug darauf reingefallen, ich glaube es wird Zeit zu kündigen. Was treiben die eigentlich den ganzen Tag für Ihr Geld?

Die 'Wahrheits'-Liebe von wohinistmeinGeld ist doch deutlich (nicht) sichbar oder?

[krofisch]

Antwort auf Beitrag Nr.: 27.845.360 von westfale64 am 20.02.07 12:30:02

Nach den leider typischen (und absichtlichen?) 'Übersetzungsfehlern' hier nun das Original:

http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

10KSB 1 form10ksb.htm
--------------------------------------------------------------------------------

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-KSB

(Mark One)

[X] Annual Report Under Section 13 Or 15(d) Of The Securities Exchange Act Of 1934

For the fiscal year ended September 30, 2006

[ ] Transition Report Under Section 13 Or 15(d) Of The Securities Exchange Act Of 1934

For the transition period from _____ to _____

COMMISSION FILE NUMBER: 000-50163

AQUA SOCIETY, INC.
(Name of small business issuer in its charter)

NEVADA 52-2357931
(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)

Konrad - Adenauer Strasse 9-13
45699 Herten, Germany
(Address of principal executive offices)

011-49-6031-791-760
Issuer’s telephone number

Securities registered under Section 12(b) of the Exchange Act: NONE.

Securities registered under Section 12(g) of the Exchange Act: Common Stock, $0.001 Par Value Per
Share.

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 [X] No [ ]

Check if there is no disclosure of delinquent filers in response to Item 405 of Regulation S-B contained in this
form, and no disclosure will be contained, to the best of registrant’s knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-KSB or any amendment to this
Form 10-KSB. [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange
Act). Yes [ ] No [X]

State issuer’s revenues for its most recent fiscal year. $2,203,763

State the aggregate market value of the voting and non-voting common equity held by non-affiliates
computed by reference to the price at which the common equity was sold, or the average bid and asked price
of such common equity, as of a specified date within the past 60 days. (See definition of affiliate in Rule 12b-2
of the Exchange Act.): $13,922,480 based on a price of $0.37 being the average of the closing bid and
ask price of the Company’s common stock as of September 29, 2006.

State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest
practicable date. 118,178,323 Shares of Common Stock as of January 8, 2007.

Transitional Small Business Disclosure Format (check one): Yes [ ] No [X]


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.

ANNUAL REPORT ON FORM 10-KSB
FOR THE YEAR ENDED SEPTEMBER 30, 2006

INDEX

PAGE

PART I 3

ITEM 1. Description of Business. 3
ITEM 2. Description of Property. 12
ITEM 3. Legal Proceedings. 12
ITEM 4. Submission of Matters to a Vote of Security Holders. 12

PART II 13

ITEM 5. Market for Common Equity and Related Stockholder Matters. 13
ITEM 6. Management’s Discussion and Analysis or Plan of Operation. 14
ITEM 7. Financial Statements. 19
ITEM 8. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. 24
ITEM 8A. Controls and Procedures. 24
ITEM 8B. Other Information. 24

PART III 26

ITEM 9. Directors, Executive Officers, Promoters, Control Persons and Corporate Governance; Compliance with Section 16(A) of the Exchange Act. 26
ITEM 10. Executive Compensation. 28
ITEM 11. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 30
ITEM 12. Certain Relationships and Related Transactions, and Director Independence. 34
ITEM 13. Exhibits. 35
ITEM 14. Principal and Accountant Fees and Services. 37

SIGNATURES 38

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PART I

Certain statements contained in this Annual Report on Form 10-KSB constitute “forward-looking statements.” These statements, identified by words such as “plan,” “anticipate,” “believe,” “estimate,” “should,” “expect,” and similar expressions include our expectations and objectives regarding our future financial position, operating results and business strategy. These statements reflect the current views of management with respect to future events and are subject to risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from those described in the forward-looking statements. Such risks and uncertainties include those set forth under the caption “Management’s Discussion and Analysis or Plan of Operation” and elsewhere in this Annual Report. We advise you to carefully review the reports and documents we file from time to time with the Securities and Exchange Commission (the “SEC”), particularly our Quarterly Reports on Form 10-QSB and our Current Reports on Form 8-K.

As used in this Annual Report, the terms “we,” “us,” “our,” “Aqua Society,” and the “Company” mean Aqua Society, Inc. and its subsidiaries, unless otherwise indicated. All dollar amounts in this Annual Report are expressed in U.S. dollars, unless otherwise indicated.

ITEM 1. DESCRIPTION OF BUSINESS.

CORPORATE BACKGROUND

We were incorporated under the laws of the State of Nevada on March 2, 2000, under the name “V G Tech, Inc.”

On September 22, 2004, we completed the acquisition of Aqua Society GmbH (“Aqua GmbH”). Prior to our acquisition of Aqua GmbH, we were in the business of providing services in the areas of digital graphics and special effects. Upon completing the acquisition of Aqua GmbH, we abandoned this digital imaging business. We are now in the business of designing and developing applied technologies, and providing consulting services, in the areas of heating, ventilation, air conditioning, refrigeration, water purification, waste water treatment, and, our latest business segment, energy (collectively, the “Aqua Business”).

Effective December 27, 2004, we changed our name to “Aqua Society, Inc.” to better reflect the nature of our current business operations

Acquisition of Aqua GmbH

On September 22, 2004, we completed the acquisition of a 100% interest in Aqua GmbH from its sole stockholder, Water-Capital-Holding Ltd. (“Water”).

We acquired our 100% ownership interest in Aqua GmbH from Water in exchange for:

(a) the issuance of 10,000,000 shares of our common stock;


(b) the issuance of special warrants (the “Special Warrants”) to acquire 34,000,000 shares of our common stock; and


(c) the transfer to Water of 36,000,000 shares of our common stock owned by Steve Livingston, our former President, Secretary, Treasurer and Director, being all of the shares of our common stock owned by Mr. Livingston.


The Special Warrants entitled the holder to acquire one additional share of our common stock for each special warrant held, without the payment of any additional consideration. Under the terms of the Special Warrants, they could not be exercised until we had authorized capital of at least 200,000,000 shares of common stock (the “Triggering Event”). On December 6, 2004, we amended our Articles of Incorporation to increase our authorized capital to 300,000,000 shares of common stock. Upon effective filing of our Certificate of Amendment increasing our authorized capital to 300,000,000 shares of common stock, Water exercised the Special Warrants and we issued to them an additional 34,000,000 shares of our common

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stock. Pursuant to the terms of the Special Warrants, these shares were issued to Water without the payment of any additional consideration.

Under generally accepted accounting principles, our acquisition of Aqua GmbH has been accounted for as a reverse acquisition. As such, Aqua GmbH has been treated as the acquiring entity for accounting and financial reporting purposes. See Item 6, “Critical Accounting Policies.” As such, the financial statements attached to this Annual Report are presented as a continuation of the operations of Aqua GmbH, which was incorporated on May 13, 2004, and not our predecessor V G Tech, Inc.

Aqua Society GmbH

Aqua GmbH was founded as limited liability corporation (a Gesellschaft mit beschraenkter Haftung) under the federal laws of Germany on May 13, 2004. Prior to its acquisition by us, Aqua GmbH was primarily engaged in organizational activities and had earned no revenues to that point.

Aqua GmbH was formed for the purpose of developing commercial applications for its three core technologies (collectively, the “Aqua Technologies”). These Aqua Technologies have been used to develop the AquaMission, ThermoMobil and waste heat power generator products described below (collectively, the “Aqua Products”).

RECENT CORPORATE DEVELOPMENTS

The following significant corporate developments have occurred since the end of our September 30, 2005 fiscal year:

1. In February, 2006, we entered into an agreement with Sportfive GmbH & Co. KG, a sports management company representing heavyweight boxer, Wladamir Klitschko, to act as a sponsor of the heavyweight title fight between Mr. Klitschko and Chris Byrd. The fight took place on April 22, 2006 at the SAP Arena in Mannheim, Germany. Pursuant to our agreement with Sportfive, our logo appeared at various places around the ring and on various merchandise related to the fight, including the floor and the four corners of the ring, the press kit, and a full page inclusion in the official magazine for the fight. In consideration for these rights, we agreed to pay Sportfive EUR 175,000 (approximately $211,000) and related production costs of approximately EUR 64,000 (approximately $77,000), with VAT of 16% payable on both.


2. In February, 2006, we completed a private placement with two corporate investors of 1,160,960 units at a price of $1.04 per unit for total proceeds of $1,207,398 (approximately EUR 1,000,000). Each unit was comprised of one share of the Company’s common stock and one share purchase warrant. Each share purchase warrant entitles the holder to purchase one additional share of the Company’s common stock at a price of $1.30 per share for a period of two years from the date of closing. This private placement was completed pursuant to the provisions of Regulation S promulgated under the Securities Act of 1933. We did not engage in a distribution of this offering in the United States. Each of the investors has represented that they were not US persons as defined in Regulation S, and have provided representations indicating that they were acquiring our securities for investment purposes only and not with a view towards distribution. No underwriting discounts or commissions were involved.


3. In March, 2006, we received an order from Loick AG for a waste heat power generation system based on our Yellow Box product. Loick is a company based in Dorsten, Germany, that specializes in the development and production of renewable resource products such as bioplastics and biogas energy systems. The ordered unit is to be used to generate electricity from the waste heat generated by one of Loick’s existing biogas power generators. The biogas systems produced by Loick are used to supply electricity to the public grid in Germany.


The unit ordered by Loick is to be customized to the particular biogas generator to which it will be installed. Loick is currently installing a new motor onto the biogas generator. As such, the design and construction of the ordered waste heat power generation system is being delayed until Loick has


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completed the installation of the new motor. As of the date we filed this Annual Report, Loick had still not finished installing the motor. Loick has informed us that they expect to complete the installation of this motor sometime in 2007. We have no control over Loick’s installation of this motor and, as a result, we can provide no assurances when construction of the unit ordered by Loick will begin. Once construction has begun, we expect that it will take us approximately 3 months to complete.


4. In April, 2006, we announced that we had formed a joint venture with Loick AG and ODAS OHG, a company based in Dorsten, Germany, that specializes in the supply of plant based biomass raw materials. The joint venture entity, known as TMR GmbH, was originally formed to develop, build, distribute and manage renewable energy facilities. Subsequent to our September 30, 2006 fiscal year end, it was determined that we would not proceed with the TMR joint venture and, in December, 2006, we sold our interest in TMR to Loick for EUR 1.00.


5. In April, 2006, we announced that we had received an order from More Power Energie GmbH (“MPE”). MPE ordered a combined heat and power plant that is to be used to convert the waste heat from a biogas power plant into electricity. MPE intends to connect the ordered unit to a biogas power plant owned by a third party operator.


Specifications for the ordered unit were delivered by MPE during our 2006 fiscal year and construction is currently in progress. Construction was originally expected to take us approximately 3 months to complete, however we are still working with MPE to optimize the ordered unit and the plant in accordance with their specifications. We expect to complete construction and delivery of the ordered unit in 2007. However, there are no assurances that we will be able to complete the construction of this unit within the time frame estimated. In addition, even if we are able to complete construction of the ordered unit, there are no assurances that, once installed, it will function as expected.


6. In April, 2006, we announced that we had received an order to install AquaMission combined air-conditioning and drinking water supply systems to a residential complex to be constructed in Hyderabad, India by North East Developers and Real Estates (“North East Developers”). The AquaMissions to be supplied are also to be fitted with our EnergyMission / Yellow Box products. Schematics of the residential complex have not been finalized and construction of the complex has not yet begun. North East Developers has tentatively scheduled construction to begin in January, 2007. Based on this timetable, we do not expect to be able to begin designing and constructing the ordered units until at least the Summer of 2007. However, we have no control over the construction of the residential complex and we cannot begin building the units to be supplied to North East Developers until construction has begun and they have delivered the necessary schematics to us. There can be no assurances with respect to when we will receive the necessary schematics or that the actual units to be delivered will be those set out in the order. In addition, payment will be dependent upon the successful installation of the units ordered. There are no assurances that we will be able to successfully install the ordered units, or that, once installed, those units will function as expected.


7. We completed a private placement with a corporate investor for 1,245,375 units at a price of $0.88 per unit for total proceeds of $1,095,930 (approximately EUR 900,000). Each unit was comprised of one share of our common stock and one share purchase warrant. Each share purchase warrant entitles the holder to purchase one additional share of our common stock at a price of $1.10 per share for a period of two years from the date of closing. We had previously announced in February, 2006 that this private placement had been negotiated for 1,044,863 units at a subscription price of $1.04 per unit, with a share purchase warrant exercise price of $1.30 per share. The terms of this private placement were revised in order to reflect changes to the market price of our common stock and changes in foreign exchange rates. The subscribed for units were issued effective June 8, 2006 pursuant to the provisions of Regulation S on the basis that the offering does not involve a distribution in the United States and that the investor is not a U.S. person as defined in Regulation S. No underwriting discounts or commissions were involved.


8. In December, 2005, we had installed a ThermoMobil unit onto a Ford Transit to be used for marketing purposes. We had been working with a Ford dealership in Dusseldorf, Germany to market the ThermoMobil/Ford Transit in an effort to generate commercial sales of the ThermoMobil.


5


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However, we were unable to reach an agreement with the Ford dealership on a consumer price for the unit. As such, we are no longer pursuing our co-operative efforts with the Ford dealership. We now intend to use the ThermoMobil/Ford Transit unit as part of our marketing efforts in the Benelux countries (Belgium, the Netherlands and Luxembourg).


9. In June, 2006, we sold a 13.1% interest in UFI-TEC GmbH for proceeds of EUR 10,072 (approximately $12,237). As a result we now own only 19.9% of UFI-TEC.


10. On September 30, 2006 we entered into an exclusive patent license agreement with Ecoenergy Patent GmbH. Under the terms of the license agreement, we obtained exclusive rights to manufacture, use and distribute products based on certain patent pending technologies. See “Intellectual Property Rights,” below.


11. After the completion of our 2006 fiscal year, we completed the construction of a demonstration prototype of our EnergyMission / Yellow Box technology. A media event to showcase this demonstration model was held at our facilities on December 21, 2006. This demonstration unit will be used by us for marketing and demonstration purposes as well as for research and development.


12. On December 21, 2006, our Board of Directors approved and adopted our 2006 Stock Option Plan (the “2006 Option Plan”). Under the 2006 Option Plan, options may be granted for a maximum of 7,000,000 shares of our common stock. The maximum number of shares that may be optioned under the 2006 Option Plan will increase each fiscal quarter, beginning with the fiscal quarter commencing April 1, 2007, by an amount equal to 15% of the total increase in the number of shares of common stock outstanding or such lesser amount as may be determined by our Board of Directors.


A summary of our 2006 Option Plan is set forth in our Current Report on Form 8-K filed with the SEC on December 29, 2006. The full text of the 2006 Option Plan is attached as Exhibit 10.1 to our Current Report on Form 8-K filed with the SEC on December 29, 2006, and is incorporated by reference herein.


13. Also on December 21, 2006, our Board of Directors approved the grant of options under the 2006 Option Plan for 2,500,000 shares of our common stock at an exercise price of $0.40 per share to Mr. Terberg and options to purchase an aggregate of 2,000,000 shares of our commons stock to Mr. van der Zee, also at a price of $0.40. The options granted to each of Mr. Terberg and Mr. van der Zee vest in equal quarterly instalments, commencing on April 1, 2007 and expiring 2 years after the applicable vesting date. See Part III, Item 10 “Executive Compensation – Director Compensation Arrangements.”


Changes to the Board of Directors and Executive Officers

In addition to the above corporate developments, there have been a number of changes to our Board of Directors and executive officers since the end of our 2005 fiscal year.

Effective December 13, 2005, Petrus Lodestijn replaced Achim Stamm as our Chief Executive Officer and President. Mr. Stamm continued to act as our Chief Financial Officer, Treasurer and Secretary and continued to act on our Board of Directors until March 22, 2006, when Mr. Lodestijn replaced Mr. Stamm in those capacities as well.

Effective on October 31, 2006, Robert Terberg replaced Mr. Lodestijn as our Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary and also as a member of our Board of Directors. Also effective on October 31, 2006, our Board of Directors was expanded by the appointment of Hubert Hamm as a director of the Company and by the appointment of Hugo van der Zee as the Chairman of the Company’s Board of Directors.

Biographical information for each of Mr. Terberg, Mr. Hamm and Mr. van der Zee is provided at Part II, Item 9 “Directors, Executive Officers, Promoters, Control Persons and Corporate Governance; Compliance with Section 16(A) of the Exchange Act.“

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BUSINESS SEGMENTS

Heating, Ventilation, Air Conditioning & Refrigeration (“HVAC&R”)

Our core competency in the areas of HVAC&R lies in our ability to optimize refrigeration technologies by maximizing cooling capacity and minimizing machinery size and energy consumption. Our HVAC&R department has more than 20 years of experience in R&D, construction, maintenance and the optimization of large-scale refrigeration plants for use in major industrial projects such as mining and tunnel construction.

As a result, our team of experts is able to provide HVAC&R solutions for almost industrial system and can advise and guide our clients on all of their needs, including the evaluation or improvement of existing facilities, the sourcing and supply of HVAC&R equipment and the construction and maintenance of HVAC&R facilities.

In addition to providing consulting services in this area, we have also developed our ThermoMobil product. The ThermoMobil is a multi-purpose, self-contained, mobile refrigeration and/or heating unit designed to be loaded and transported onto a variety of large or small transport vehicles. The product is designed to allow users to convert ordinary transportation vehicles into refrigerated and/or heated transports. The refrigeration/heating unit itself can be loaded or unloaded from the transport vehicle and is capable of utilizing either 12 volt (automobile) or 230 volt (household) electricity to power its refrigeration/heating systems. This allows users to load and unload cargo without interrupting the refrigeration or heating chain. In addition, the ThermoMobil does not require extensive modification to the transportation vehicle itself, allowing it to still be used as a non-refrigerated/heated transport while the refrigeration/heating unit is being used to provide temporary storage.

Water Production and Purification

The efficient and sustainable utilization of the world's water resources requires the extraction of water from sources which are replenished by nature in a short time and the multiple use of water extracted. In this sector, our focus is to produce, purify and recycle potable water through the use of membrane and vacuum technologies. Our water experts have 20 years of experience in successfully designing, constructing and maintaining various water purification, water recycling and waste water treatment plants not only for research and development facilities of different German universities but also for industrial production plants, hospitals and military institutions in different parts of the world. Our team has particular expertise in using membrane and vacuum technologies to design, construct and maintain water purification, water recycling and waste water treatment systems.

In addition to providing services in the areas of water purification and water treatment, we have developed a water production unit that we call the AquaMission. The AquaMission utilizes a patented process to extract water from ambient air. At a temperature of 23°C (73°F) and humidity of 75%, the atmosphere contains about 16g of water per kg of air (approximately 0.56 oz. for every 2.2 lbs. of air). By cooling the air down to 10°C (50°F), approximately 8g (approximately 0.28 oz.) of condensed water can be produced. Air is supplied to a refrigerated surface contained within the unit which then causes water in the air to condensate. The collected water is then passed through a treatment filter for purification. The result is potable water which meets the standards established by the World Health Organization’s Guidelines for Drinking-Water Quality. We have built and tested prototypes of various sizes for the AquaMission. The smallest prototype, approximately 40cm x 40cm x 60cm (1.3 ft. x 1.3 ft. x 2.0 ft.) in size, is, depending on humidity and temperature, capable of producing up to 24L (approximately 6.3 gal.) of drinking quality water per day. The largest prototype, approximately 240 cm x 600 cm x 240 cm (8 ft. x 20ft x 8 ft.) in size, is, depending on humidity and temperature, capable of producing up to 6,000L (approximately 1,585 gal.) of drinking quality water per day.

Energy

Waste heat in the low-temperature range represents a widely unused potential energy source. According to a current market study on unused waste heat commissioned by us, in Germany alone, there is approximately 85,000 megawatts (MW) of potentially exploitable waste heat energy in the 80°C to 260°C temperature range generated by industrial sources. Worldwide, the targeted use of low-temperature waste heat to generate

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electricity could make a significant contribution to the conservation of fossil fuel resources and the reduction of carbon dioxide emissions.

We have currently developed a product, known as the EnergyMission or “Yellow Box” that is capable of converting waste heat at temperatures as low as 100°C (212°F) into usable electricity. Originally developed as a means of optimizing the performance of cooling systems, we have adapted this technology for use with refrigeration and air conditioning units as well as for use with our AquaMission and ThermoMobil products, increasing the overall energy efficiency of those units. In addition, we are currently working to adapt this technology for use on biogas electrical generators. Construction of a prototype of the EnergyMission was completed shortly after our 2006 fiscal year end.

INTELLECTUAL PROPERTY RIGHTS

We own the rights to the following patented technologies:

Patent Number Name
German Patent No. 101 29 047.0 Fully sintered heat exchangers in all possible geometric forms for all application purposes

German Patent No. DE 102 23 578 A1 Device for recovering used water

International Patent No. WO 01/753181 A3 and WO 01/753181 A2 Transportable cool box system technology


In addition, we have licensed from Ecoenergy Patent GmbH (“Ecoenergy”) exclusive rights (the “License Rights”) to manufacture, use and distribute products based on the following patent pending technologies (the “Ecoenergy Technologies”):

Patent Number Name
International Patent Application No. 2005/061858 Method for converting heat energy into mechanical energy with a low-pressure expansion device.

International Patent Application No. 2005/066466 Method and system for converting heat energy into mechanical energy.

International Patent Application No. 2005/061973 Method and system for increasing the temperature of a vaporous working medium.

International Patent Application No. 2005/066465 Method and installation for converting heat energy from refrigerating machines.

International Patent Application No. 2005/078243 Method and installation for converting thermal energy from fluids into mechanical energy.

International Patent Application No. 2005/061857 Device and method for converting heat energy into mechanical energy.


Ecoenergy is owned by Hubert Hamm and Dr. Erwin Oser. Mr. Hamm has acted as the managing director of Aqua GmbH since its inception, is one of our key consultants and is also one of our principal stockholders. In addition, on October 31, 2006, Mr. Hamm was appointed to our Board of Directors. Dr. Oser has been a member of our Board of Directors since October 20, 2004 and is one of our key consultants in the area of energy optimization.

We were granted the License Rights in exchange for certain patent application costs related to the Ecoenergy Technologies that were paid for by us.

A summary of the material provisions of our license agreement with Ecoenergy is provided below. This summary does not, however, purport to be complete, and is qualified in its entirety by reference to the full text

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of our license agreement with Ecoenergy, a copy of which was attached as an exhibit to our Current Report on Form 8-K, filed with the SEC on October 6, 2006.

Scope of License Rights

The License Rights extend within the signatory countries to the European Patent Convention, the United States of America and India for a period of 15 years, unless terminated earlier in accordance with its provisions. The License Rights are exclusive and cover the manufacture, use and distribution of products based on the Ecoenergy Technologies within the following areas (collectively, the “Technical Applications”):

1. Energy recovery from the waste heat generated when drawing water from the atmosphere;

2. Energy recovery from the waste heat generated by refrigeration and air conditioning systems;

3. Energy recovery from the waste heat generated by block-type thermal power stations;

4. Energy recovery from the waste heat from industrial heat processes; and

5. Energy recovery from the waste heat of exhaust and sewage streams.


The prior written approval of Ecoenergy is required in order to sublicense any of the License Rights or to contract out the manufacture of products based on the Ecoenergy Technologies to third parties.

Annual Royalty and Patent Maintenance Fees

We are required to pay annual royalties to Ecoenergy as follows:

(a) 2% of annual sales revenues (without sales tax) earned by Aqua GmbH up to EUR 50,000,000 (approximately $63,428,000);


(b) 1.5% of the portion of annual sales revenues (without sales tax) in excess of EUR 50,000,000 (approximately $63,428,000) up to EUR 100,000,000 (approximately $125,856,000); and


(c) 1% of the portion of annual sales revenues (without sales tax) in excess of EUR 100,000,000 (approximately $125,856,000).


Any revenues earned from the sublicensing of the License Rights are to be included in annual sales revenues.

In addition to paying the annual royalty amounts to Ecoenergy, we are required to pay all costs and fees associated with maintaining the patent rights associated with the Ecoenergy Technologies. In particular, we are required to pay for any filing fees required to keep the patent and/or patent applications associated with the Ecoenergy Technologies in good standing with the relevant patent authorities within the License Territory and any associated attorneys’ fees.

Minimum Sales Requirements

In order to maintain our exclusive License Rights under the License Agreement, we are required generate minimum annual sales revenues for each Technical Application to which the License Rights apply. If we fail to meet the minimum annual sales requirements for any Technical Application for two consecutive years, the License Rights, as applied to that particular Technical Application, automatically become non-exclusive. If, after the License Rights become non-exclusive as a result of a failure to meet the minimum sales requirements, we again fail to meet the minimum annual sales requirements for two consecutive years, Ecoenergy may, at its option, terminate our non-exclusive License Rights for that particular Technical Application. In order to exercise its option to terminate, Ecoenergy must inform us of its intention to do so, in writing, within 4 weeks after receiving our statement of accounts relating to the total annual sales of products based on the Ecoenergy Technologies and, in no case, later than June 30th.

A failure to meet the minimum sales requirements for any particular Technical Application will not affect our License Rights for any other Technical Application.

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The minimum annual sales requirements for each Technical Application are as follows:

1. Energy recovery from the waste heat generated when drawing water from the atmosphere



Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 500,000 (approximately $635,000)
2008 EUR 750,000 (approximately $952,500)
2009 EUR 1,000,000 (approximately $1,270,000)
2010 to expiration EUR 2,000,000 (approximately $1,540,000)


2. Energy recovery from the waste heat generated by refrigeration and air conditioning systems



Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 500,000 (approximately $635,000)
2008 EUR 750,000 (approximately $952,500)
2009 EUR 900,000 (approximately $1,143,000)
2010 to expiration EUR 2,000,000 (approximately $1,540,000)


3. Energy recovery from the waste heat generated by block-type thermal power stations



Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 1,200,000 (approximately $1,524,000)
2008 EUR 1,500,000 (approximately $1,905,000)
2009 EUR 1,500,000 (approximately $1,905,000)
2010 to expiration EUR 3,000,000 (approximately $3,810,000)


4. Energy recovery from the waste heat from industrial heat processes



Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 400,000 (approximately $508,000)
2008 EUR 500,000 (approximately $635,000)
2009 EUR 800,000 (approximately $1,016,000)
2010 to expiration EUR 1,500,000 (approximately $1,905,000)


5. Energy recovery from the waste heat of exhaust and sewage streams



Year Minimum Annual Sales Requirement
2006 EUR 0
2007 EUR 400,000 (approximately $508,000)
2008 EUR 500,000 (approximately $635,000)
2009 EUR 800,000 (approximately $1,016,000)
2010 to expiration EUR 1,500,000 (approximately $1,905,000)

COMPETITIVE BUSINESS CONDITIONS

We are unaware of any products currently in existence that compete directly with our existing and proposed products. However, the markets for HVAC&R, water purification, waste water treatment, water supply and energy optimization services and technologies are, in general, extremely competitive.

Many of the existing services and technologies provided by others are more established and have gained wider acceptance in the marketplace. Many of these service and equipment providers will be more established and have greater technical, financial, marketing and sales resources than us. We believe that our ability to compete in this area will depend upon our ability to combine and optimize existing technologies

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and to develop novel, more efficient solutions to existing problems. However, there are no assurances that we will be able to effectively differentiate ourselves from our competitors.

RESEARCH AND DEVELOPMENT

During the past two fiscal years, we have spent approximately $2,829,267 on research and development activities. Although we have completed principal development of our technologies and products, we are still in the process of refining those technologies and products for commercial use. Subject to our ability to acquire additional financing, we hope to complete our research and development activities during our 2007 fiscal year.

GOVERNMENT AND ENVIRONMENTAL REGULATIONS

Although we are not aware of any specific government and environmental regulations applicable to our business operations, it is likely that our operations will be subject to extensive government regulations in the United States, Europe and elsewhere.

In order to sell our products, we may have to satisfy numerous mandatory procedures, regulations, and safety standards established by international, federal and state regulatory agencies. There can be no assurance that we can successfully comply with all present or future government regulations.

EMPLOYEES

We currently have eight full-time employees. In addition to these employees, we have retained the services of four consultants who are key to our business operations.

Hubert Hamm: Mr. Hamm is the inventor of the patented Aqua Technologies and is the lead consultant for research and development for Aqua GmbH’s HVAC&R Department. Mr. Hamm is a managing director of Aqua GmbH, and, since October 31, 2006, has acted as a member of our Board of Directors. Mr. Hamm is also one of our principal stockholders. See Part III, Item 11 “Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters”.

Mr. Hamm has over 20 years of experience in the research and development, construction, maintenance and optimization of large-scale refrigeration plants, primarily for applications in mining and tunnel construction. From 1986 to 2001, Mr. Hamm worked in various management positions at RAG (formerly Ruhrkohle AG), a multi-billion dollar international mining and energy company. Mr. Hamm was the head of RAG’s HVAC&R department from 1994 to 2001. Since 2001, Mr. Hamm has been the head of his own engineering consulting firm, specializing in the development of HVAC&R technologies.

Rolf Haake: Mr. Haake is the lead consultant for research and development for Aqua GmbH’s Water Purification Department.

Mr. Haake has over 30 years of experience in the areas of water purification and treatment. From 1972 until 1978, Mr. Haake was the director of the North Rhine/Westphalia sales office for Deutsche Ton- und Steinzeugwerke AG, involved in the planning and sales of water purification and waste water treatment plants and related environmental technologies. Since 1978, Mr. Haake has been involved in running a number of independent businesses responsible for the planning and construction of waste-water treatment facilities.

Dr. Erwin Oser: Dr. Oser is our lead consultant in charge of research and development for our Energy Technologies Department. Dr. Oser has been a member of our Board of Directors since October 20, 2004.

Since 1985, Dr. Oser has been the principal of Dr. Oser/Partner In Technik, a German based Management Consulting firm, that specializes in assisting their clients with the creation of efficient organization structures, product development and the introduction of new technologies. Dr. Oser received his Diploma in Physics and his Doctorate in Physical Chemistry from RWTH Aachen, in Germany. He also completed post graduate studies at RWTH Aachen where he obtained his certificate in Economics.

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ITEM 2. DESCRIPTION OF PROPERTY.

Our corporate headquarters is located at Konrad-Adenauer Strasse 9-13, 95699 Herten, Germany and consists of approximately 1,200 square meters. We rent this facility at a cost of approximately EUR 6,690 per month (approximately $8,500). We do not currently own or lease any additional land, buildings or office space.

ITEM 3. LEGAL PROCEEDINGS.

We are not a party to any material legal proceedings and, to our knowledge, no such proceedings are pending.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

None.

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PART II

ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS.

Market Information

Our shares are currently trading on the Over-The-Counter Bulletin Board (the “OTCBB”) under the symbol AQAS. The high and the low bid prices for our shares for the last two fiscal years of actual trading, as reported by the OTCBB were:

QUARTER
HIGH ($)
LOW ($)

1st Quarter 2005 $4.41 $1.30
2nd Quarter 2005 $2.95 $2.10
3rd Quarter 2005 $3.65 $1.50
4th Quarter 2005 $3.75 $1.72
1st Quarter 2006 $2.10 $1.18
2nd Quarter 2006 $1.50 $1.00
3rd Quarter 2006 $1.33 $0.47
4th Quarter 2006 $0.65 $0.25

The trades reflect inter-dealer prices, without retail mark-up, markdown or commission and may not represent actual transactions.

Holders Of Our Common Stock

As of September 30, 2006, we had 17 registered shareholders and 118,178,323 shares of our common stock issued and outstanding. In addition, we believe that there are a large number of stockholders who hold shares of our common stock on deposit with their brokers or investment bankers registered in the name of stock depositories.

Dividends

We have not declared any dividends on our stock since our inception. There are no dividend restrictions that limit our ability to pay dividends on our common stock in our Articles of Incorporation or Bylaws. Our governing statute, Chapter 78 – “Private Corporations” of the Nevada Revised Statutes (the “NRS”), does provide limitations on our ability to declare dividends. Section 78.288 of Chapter 78 of the NRS prohibits us from declaring dividends where, after giving effect to the distribution of the dividend:

(a) we would not be able to pay our debts as they become due in the usual course of business; or


(b) our total assets would be less than the sum of our total liabilities plus the amount that would be needed, if we were to be dissolved at the time of distribution, to satisfy the preferential rights upon dissolution of stockholders who may have preferential rights and whose preferential rights are superior to those receiving the distribution (except as otherwise specifically allowed by our Articles of Incorporation).


Recent Sales Of Unregistered Securities

All unregistered sales of our equity securities completed during our fiscal year ended September 30, 2006 have been previously reported in the Quarterly Reports on Form 10-QSB and Current Reports on Form 8-K that we filed during that period.

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ITEM 6. MANAGEMENT’S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

PLAN OF OPERATION

During the next twelve months, we will focus: (1) on the design and construction of products ordered from us; (2) on further developing the market for our products; and (3) on continuing to develop and improve our products. Specifically, our plan of operation for the next twelve months involves the following:

1. Design and Construction of Ordered Units: During the next twelve months, we will work on the design and construction of the waste heat power generation, AquaMission and ThermoMobil units for which we have received orders:


(a) With respect to the waste heat power generation unit ordered by Loick, we are currently waiting for Loick to provide us with specifications for the biogas generator to which the ordered unit is to be attached. Once we have received the necessary data from Loick, we expect that it will take us approximately three months to design and construct the ordered unit. As of the date of filing of this Annual Report, we had not yet received the necessary specifications. We expect to receive this data from Loick sometime before the Summer of 2007.


(b) We are currently working with MPE to optimize the waste heat power generation unit ordered by them. We expect to complete construction and delivery of the ordered unit in 2007. However, there are no assurances that we will be able to complete the construction of this unit within the time frame estimated. In addition, even if we are able to complete construction of the ordered unit, there are no assurances that, once installed, it will function as expected.


(c) We do not expect to begin designing or constructing the combined AquaMission and Yellow Box units ordered by North East Developers in Hyderabad, India until at least the Summer of 2007. North East Developers is still in the process of finalizing schematics and plans for the planned residential complex in Hyderabad, India, with construction tentatively scheduled to begin in January, 2007. However, we have no control over the construction of the planned residential complex and we can provide no assurances that construction on the residential complex will begin when scheduled or at all.


(d) In 2005, we received an order from Refrigeraciones Kal-Tec Espana S.L. (“Kal-Tec”) for one AquaMission unit. Delivery of this unit was originally scheduled for the Fall of 2005; however delivery has not yet been made. We are currently in discussions with Kal-Tec regarding the status of their order. However, because there have been significant and ongoing delays in the construction and delivery of the AquaMission unit ordered by Kal-Tec, there are no assurances that we will be able to complete construction of the ordered unit or that delivery of the unit will be accepted.


(e) We have an agreement with BS Technik GmbH (“BS Technik”) for the delivery of 15 ThermoMobil units of varying sizes. In August of 2005, we reported that BS Technik had agreed to allow us to delay delivery of the ThermoMobil units ordered by them. However, there have been significant and ongoing delays in the construction and delivery of the units ordered by BS Technik. As a result of these delays, there are no assurances that BS Technik will still accept delivery of the ordered ThermoMobil units. We are currently in discussions with BS Technik regarding the status of their order and are in negotiations with them to deliver newly developed and improved ThermoMobil units.


2. Market Development Activities: Over the next twelve months we intend to do the following in an effort continue developing a market for our products and services:


(a) We have completed the construction of a prototype EnergyMission / Yellow Box unit that we will use for marketing and demonstration purposes, as well as for ongoing research and development. The prototype unit will be used by us to demonstrate the effectiveness of our technology to trade media and industry representatives on an ongoing basis.


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(b) We are also in the process of setting up a wholly owned subsidiary in the Netherlands, through which we will seek to promote all of our products in the “Benelux” countries (Belgium, the Netherlands and Luxemberg). The office for this subsidiary will be located in Zevenaar, near Arnhem in the east of the Netherlands.


(c) We will continue to attempt to market the AquaMission combined air-conditioning and drinking water product in geographic locations with high ambient temperatures and relative humidity but without readily available sources of fresh water, such as the Persian Gulf and the Middle East. Three demonstration models of the AquaMission are currently on location in the Middle East. We are currently in the process of seeking new sales agents for our products in the Middle East.


We will continue to try and generate sales in the Middle East using these demonstration models. However we have no specific time frame for this and there are no assurances that we will be able to generate any sales in the Middle East or India.


In addition to these activities, we may also seek to increase brand awareness through various advertising activities and sponsorships.


3. Product Development Activities: During the next twelve months, we will also continue to work on further developing and improving our existing products in an effort to increase their marketability. As part of these efforts, we have developed and built a demonstration model of our Yellow Box technology.


We are also in the process of constructing a high-tech “climate room” that will allow us to simulate the world’s various humidity and temperature zones. This “climate room” will assist us in optimizing our AquaMission unit for different geographic locations.


We anticipate spending approximately $2,000,000 in pursuing our plan of operation over the next twelve months. As of September 30, 2006, the date of our most recently available financial statements, we had a working capital deficit of $2,059,410. As such, we do not have sufficient working capital to meet our expected needs over the next twelve months. Although we have recently begun to earn revenues, we have not yet earned a net profit and we do not expect to achieve profitability in the near future as we expect to continue to incur substantial product development, marketing and operating expenses. We are likely to continue to need substantial additional financing in order to implement our plan of operation. Our management expects that any additional financing that we obtain will likely be in the form of equity financing.

Our actual expenditures and business plan may differ from the one stated above. Our Board of Directors may decide not to pursue this plan. In addition, we may modify the plan based on available financing.

RESULTS OF OPERATIONS

Summary of Year End Results

Year Ended September 30
Percentage
2006 2005 Increase / (Decrease)
Revenue $2,203,763 $896,535 145.81%
Cost of Goods Sold (1,703,505) (791,302) 115.28%
General and Administrative Expenses (4,842,873) (25,892,791) (81.30)%
Interest Income 14,366 -- 100.00%
Net Loss $(4,328,249) $(25,787,558) (83.22)%

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Revenues

We have only recently begun to earn revenues from our operations and, as a result, we are unable to accurately forecast future revenues. Readers are cautioned that our past operating results may not be indicative of future performance.

The revenues that we earned during the year ended September 30, 2006 were earned from services that we provided and equipment sales in connection with HVAC&R and energy optimizing activities in respect of refrigerating plants used in mining and tunnelling activities.

Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products, and there are no assurances that we will be able earn such revenues in the future.

Expenses

The major components of our operating expenses are outlined in the table below:

Year Ended September 30
Percentage
2006 2005 Increase / (Decrease)
Accounting and audit fees $293,158 $154,626 89.59%
Advertising and promotion 547,324 193,299 183.15%
Amortization 49,926 15,473 222.67%
Bad debts 150,596 33,398 350.91%
Bank charges and interest 3,148 619 408.56%
Consulting fees 293,115 250,518 17.00%
Development costs 1,458,016 1,371,251 6.33%
Filing fees 3,541 7,554 (53.12)%
Foreign exchange (gain) loss (226,479) -- (100.00)%
Interest 152,210 29,271 420.00%
Legal fees 155,365 103,398 50.26%
Management fees 716,231 527,976 35.66%
Office and miscellaneous 214,049 197,567 8.34%
Rent 132,606 117,222 13.12%
Salaries and benefits 520,183 197,006 164.04%
Stock-based compensation -- 22,480,000 (100.00)%
Transfer agent 1,736 6,400 (72.88)%
Travel 167,645 107,511 55.93%
Write Down of Patents (9,298) -- (100.00)%
Write Down of Inventory (49,899) -- (100.00)%
Write Down of Investment and Loan (151,306) (99,702) 51.76%
Total General and Administrative Expenses $4,842,873 $25,892,791 (81.30)%

During the year ended September 30, 2005, we recorded as stock-based compensation, expenses of $22,480,000 on account of options granted during our 2005 fiscal year pursuant to our 2004 Stock Incentive Plan. We did not grant any options or other stock-based compensation during our 2006 fiscal year and, as such, recorded no stock-based compensation expenses during that period. Less stock based compensation,

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our general and administrative expenses for the year ended September 30, 2005 totaled $3,412,791, being $1,430,082 less than our total general and administrative expenses for the year ended September 30, 2006.

The majority of our individual expense items increased significantly when compared to the same period in 2005. These increases are largely a result of our increased operations. We expect that our operating activities will continue to increase over the course of the current fiscal year as we expect to aggressively pursue the marketing of our products and technologies. In addition, we expect that we will continue our ongoing research and development activities.

The largest component of our expenses for the year ended September 30, 2006 were development costs incurred in connection with our ongoing research and development activities. Included in development costs for the year ended September 30, 2006 was $486,434 charged to us by Dr. Erwin Oser, one of our directors. These amounts were incurred by the director while conducting research and development work on our products and technologies, and were reimbursed by us.

Our advertising and promotion expenses have also increased significantly over the amounts spent during the year ended September 30, 2005. We expect our advertising and promotion expenses to continue to increase in the foreseeable future as we intend to concentrate more on marketing our business, products and technologies.

We incurred management fees of $716,231 during the year ended September 30, 2006. Of this amount, $147,529 were paid to Stamm & Lang Rechtsanwalte, a German law firm of which Achim Stamm, our former Chief Financial Officer, Secretary, Treasurer and a former director, is a partner, pursuant to a management consulting contract. An additional $173,140 was paid to Stamm & Lang in lieu of notice upon termination of our agreement with them in February, 2006. Also included in management fees are amounts charged under a management consulting contract with Hubert Hamm, a managing director of Aqua GmbH, and the lead consultant for research and development for Aqua GmbH’s HVAC&R department.

We recognized bad debt expenses in the amount of $150,596 during the year ended September 30, 2006, relating to amounts owing for services and products supplied by us. We also wrote down loans receivable of $66,094 from UFI-TEC GmbH, a company in which we currently own a 19.9% interest.

LIQUIDITY AND FINANCIAL CONDITION

Working Capital

Percentage
At September 30, 2006 At September 30, 2005 Increase / (Decrease)
Current Assets $854,960 $1,840,049 (53.54)%
Current Liabilities (2,914,370) (386,975) 653.12%
Working Capital (Deficit) $(2,059,410) $1,453,074 (241.73)%

Included in current liabilities are a total of $1,441,507 payable to a law firm of which, Achim Stamm, one of our former officers and directors, is a partner. We are currently in negotiations with Mr. Stamm for the settlement of the amounts owed to him and his law firm.

Cash Flows

Year Ended Year Ended
September 30, 2006 September 30, 2005
Cash Flows used in Operating Activities $(3,391,147) $(4,113,488)
Cash Flows used in Investing Activities (121,678) (443,408)
Cash Flows from Financing Activities 3,203,743 5,127,314
Effects of Exchange Rates (162,435) 81,818
Net Increase (Decrease) in Cash During Period $(471,517) $652,236

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Financing during the year ended September 30, 2006 was obtained from the sale of shares of our common stock and short-term loans. During the year ended September 30, 2006, we obtained $2,303,328 in financing from the sale of shares of our common stock in private placement transactions and net loans payable of $900,415.

Of the $2,377,099 in loans payable as of our fiscal year end of September 30, 2006, $1,441,507 is due to Stamm & Lang. Of the amounts due to Stamm & Lang, $697,832 bears interest at a rate of 7.5% per annum, is secured by accounts receivable and was due on December 31, 2006. The remaining $743,675 payable to Stamm & Lang is non-interest bearing, is secured by accounts receivable and was also due on December 31, 2006. The remaining loans payable as of September 30, 2006 were obtained from private persons and consisted of the following amounts:

(a) $185,989, bearing interest at a rate of 7.5% per annum, secured by accounts receivable and payable by December 31, 2006;


(b) $115,326, bearing interest at a rate of 7.5% per annum, unsecured and payable on or before December 31, 2006; and


(c) $634,276, without interest, unsecured and payable on demand.


As at September 30, 2006 we had cash in the amount of $187,432 and a working capital deficit of $2,059,410. We anticipate spending approximately $2,000,000 over the next 12 months in pursuing our plan of operation. We will require substantial additional financing in the next few months in order to pursue our current plan of operation.

Although we have recently begun to earn revenues, we have not yet achieved profitability. We anticipate that we will continue to incur losses for the foreseeable future, as we expect to incur substantial product development, marketing and operating expenses in implementing our plan of operation. Our future financial results are uncertain due to a number of factors, many of which are outside of our control. These factors include, but are not limited to:

(a) our ability to commercially market our ThermoMobil and AquaMission products;


(b) our ability to develop a commercially marketable EnergyMission/Yellow Box product;


(c) our ability to raise additional capital necessary to implement our business strategy and plan of operation;


(d) our ability to compete with other existing technologies; and


(e) the success of any marketing and promotional campaign which we conduct for our products once development is complete.


Due to the uncertainty regarding our future revenues and profitability, we expect that the majority of additional financing that we obtain, if any, will likely be in the form of equity financing. Our management does not expect sufficient debt financing to be available to us at this stage of our business.

The financial statements accompanying this Annual Report contemplate our continuation as a going concern. However, we have not yet achieved profitable operations and we expect to continue to incur substantial losses in the foreseeable future as we continue to develop our business. As a result, our auditors stated in their report for our fiscal year ended September 30, 2006 that a substantial doubt exists as to our ability to continue as a going concern.

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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 are material to our stockholders.

CRITICAL ACCOUNTING POLICIES

We have identified certain accounting policies, described below, that are most important to the portrayal of our current financial condition and results of operations. Our significant accounting policies are disclosed in the notes to the audited financial statements included in this Annual Report.

Principles of Consolidation

The consolidated financial statements include the accounts of Aqua Society, Inc and our wholly owned subsidiary, Aqua GmbH, a German limited liability company. All inter-company transactions have been eliminated.

Foreign Currency Translation

Our functional currency is United States dollars. Our subsidiary, Aqua GmbH, uses the Euro as its functional currency. Accordingly, assets and liabilities of Aqua GmbH are translated into US dollars at the exchange rate in effect at the balance sheet date and capital accounts are translated at historical rates. Income statement accounts are translated at the average rates of exchange prevailing during the period. Translation adjustments arising from the use of differing exchange rates from period to period are included in the Accumulated Other Comprehensive Gain/(Loss) account in Stockholders’ Equity.

Transactions undertaken in currencies other than the functional currency of the entity are translated using the exchange rate in effect as of the transaction date. Any exchange gains and losses would be included in the Statement of Operations.

Patents, Patent Rights and Amortization

Patents and patent rights are recorded at cost. We provide for the amortization of patents and patent rights on the straight-line basis over their estimated economic lives, estimated to be 5 years. Amortization is recorded upon the patents being awarded.

RISKS AND UNCERTAINTIES

Need For Financing

We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability and we anticipate that we will continue to incur substantial losses in the foreseeable future. We are likely to continue to need substantial additional financing in order to implement our long term business plan. We currently do not have any financing arrangements in place and there is no assurance that we will be able to acquire sufficient financing on terms acceptable to us or at all. If financing is not available or obtainable, our ability to meet our financial obligations and pursue our plan of operation will be substantially limited and investors may lose a substantial portion or all of their investment

Limited Operating History, Risks Of A New Business Venture

We are still in the process of developing our business and we do not expect to achieve profitability in the near future. We have only recently begun to earn revenues. Readers are cautioned that our past results may not be indicative of future performance.

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Potential investors should be aware of the difficulties normally encountered by a new enterprise and the high rate of failure of such enterprises. The potential for future success must be considered in light of the problems, expenses, difficulties complications and delays encountered in connection with the development of a business in the area in which we intend to operate and in connection with the formation and commencement of operations of a new business in general. These include, but are not limited to, unanticipated problems relating to research and development programs, marketing, approvals by government agencies, competition and additional costs and expenses that may exceed current estimates. There is no history upon which to base any assumption as to the likelihood that we will prove successful, and there can be no assurance that we will ever achieve profitable operations.

If We Are Unable To Achieve Market Acceptance For Our Products, We Will Be Unable To Build Our Business

To date, we have completed technical development of our EnergyMission/Yellow Box, ThermoMobil and AquaMission products. However, we have only received a limited number of confirmed orders for these products. Our future success will depend upon the acceptance of our existing products, and other products that we develop, by the respective industries in which we intend to market those products. Achieving such acceptance will require significant investments in research and development and market development. Our technologies and products may not achieve widespread acceptance, which could limit our ability to develop and expand our

[krofisch]

Antwort auf Beitrag Nr.: 27.856.732 von krofisch am 20.02.07 19:44:53

Hier in #4889 ist wieder einmal überdeutlich die \'Wahrheits\'-Liebe von wohinistmeinGeld (nicht?) sichbar oder?

Bei ihm liegt 2004 schon 8-10 Jahre zurück.

[krofisch]

Antwort auf Beitrag Nr.: 27.833.097 von wohinistmeinGeld am 19.02.07 20:04:17

Im Unterschied zu dir bin ich lernfähig.

Dann lerne mal schnell rechnen:

2007 - 2004 ist 3 und nicht wie bei dir 8-10!

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.857.450 von krofisch am 20.02.07 20:02:04

Na klar, wie zu erwarten wieder nur hirnloses Geschafel, also nochmal.

JA krofischchen, wie wäre es denn zwischendurch mal mit etwas Sachlichkeit oder bringst du gar nichts mehr sinnvolles zusammen.

Was ist z.B. damit
----------------------------
Meldungen
Aqua Society erhält Zuschlag für mobile Kühlcontainer
-21.Dezember 2004-

BS Technik GmbH bestellt 15 Thermomobile für Saudi-Arabien und Thailand

Die Aqua Society GmbH, wird im Auftrag der BS Technik GmbH aus Nettetal insgesamt 15 Thermomobile an den Persischen Golf und nach Südostasien liefern. Das teilte das Unternehmen in Herten mit.
-------------------------------

Wieviele der 15 St sind inzwischen geliefert? Ist immerhin über 2 Jahre her.

Oder wenn sie geliefert sind, warum tauchen sie in keinem Bericht auf, ist das auch die Bescheidenheit

War die Bestellung überhaupt echt oder nur gelogen
Wenn sie echt war und storniert wurde, warum wird das dann nicht auf eurer Homepage raus genommen? Wollt ihr damit immer noch den Anschein erwecken der Auftrag hätte noch Gültigkeit?

Oder wenn die Bestellung storniert wurde und ihr wollt die News trotzdem stehen lassen, dann gibt es meiner Meinung nach auch die Verpflichtung die Stornierung zu veröffentlichen.

Wenn storniert wurde, dann wäre für die Aktionäre auch interessant zu wissen, warum.
Aber was interessieren euch die Aktionäre, die sollen Aktien kaufen und sonst das Maul halten. Informationspflicht gilt für Aqua wohl nicht.

Wenn nicht storniert ist, warum wird dann nichts geliefert, woran klemmt es und wann wird geliefert, gibt es einen geplanten Termin.


Mir ist schon klar, daß darauf wieder kaum eine Chance auf Antwort besteht, geht ja auch nicht, entweder müßte man den Betrug zugeben da frei erfunden, oder die Unfähigkeit ein Geschäft zu Ende zu bringen.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.857.450 von krofisch am 20.02.07 20:02:04

darauf einzugehen lohnt sich nicht und ist jetzt auch das letzte mal, auch wenn du weiterhin mehrmals täglich dasselbe rein kopierst. War da eigentlich nicht mal ein Verbot von Redundanz bei den Beiträgen?
Erklär lieber mal endlich den Zusammenhang von Beiträgen aus einem Bavaria Nordic Thread mit Aqua.

Wer nicht ganz so blöd ist wie du wird erkennen, daß ich in den weit über 2 Jahren alten Beiträgen über die Vergangenheit gesprochgen hatte die zu dem Zeitpunkt noch mal einige Jahre zurück lag, das lässt du natürlich in betrügerischer Weise weg.
Das man bei Aqua nicht 2,5 Jahre + 6 Jahre zusammenzählen kann ist ja zu erwarten. Wenn man seine Berichte dauernd zu spät bringen muß weil man die paar Zahlen nicht rechtzeitig zusammen bekommt ist das Jahre zusammenzählen natürlich schon eine gewaltige Herausforderung.

[Keatanu]

Antwort auf Beitrag Nr.: 27.832.707 von krofisch am 19.02.07 19:56:26

Mit Forenkasper kann nur einer gemeint sein:

Und das ist krofisch

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.860.156 von Keatanu am 20.02.07 21:10:40

keine Ahnung was der Spinner damit bezweckt, aber lustig ist es hier jedenfalls.
Der wird doch sicher selbst nicht glauben, daß er auch nur ein bißchen etwas gutes für Aqua tut,- obwoh, vielleicht glaubt er tatsächlich daran.

Wann kam eigentlich mal irgendwas handfestes von ihm das irgendwie auch mit Aqua zu tun hatte? Also dieses Jahr noch nichts. Daß er auf keine der Fragen eingeht ist schon seltsam, schließlich müßte es auch im Sinne der Firma sein. Sein Verhalten ist wohl eher schädigend und würde bei manchem Unternehmen zur Abmahnung führen.

Dieses nachkopieren von Beiträgen oder Ausschnitten daraus erinnert an das Nachäffen wie es Kinder gern tun.
Deshalb bin ich immernoch der Meinung es ist ein Sohn, Tochter, Enkel oder sonst was im Alter zwischen 10 und 13 von einem der Bosse und man lässt ihn oder sie halt machen.

[wohinistmeinGeld]

Habe ich da eigentlich was verpasst

Meldungen
Aqua Society verhandelt mit dem Energie-Contractor Proenergy über Kooperation

- 24. Juli 2006

Herten. – Die Aqua Society GmbH verhandelt aktuell mit der Proenergy Contracting GmbH & Co. KG in Bochum über eine langfristige Kooperation im Bereich der Energieoptimierung.


Ich kann mich nicht erinnern ob da mal ein Update zu den Verhandlungen kam. Wie weit sind die, sind die inzwischen erfolgreich abgeschlossen oder eher wieder wie immer erfolglos abgebrochen und damit ein weiterer Meilenstein in Aquas desaströsen arbeiten

[Borealis]

Antwort auf Beitrag Nr.: 27.864.179 von wohinistmeinGeld am 20.02.07 22:53:07

Die "Aufträge" von KalTec, BS Technik, Loick, More Power Energy und dem indischen Immobilienfuzzi sind alle stillschweigend aus dem Quartalsbericht verschwunden.
Waren anscheinend bloß erstunken und erlogen.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.866.431 von Borealis am 21.02.07 02:30:56

aber sie stehen noch auf der Homepage. Wenn auch der Text nicht immer zur Überschrift passt, aber das kommt davon wenn man einen 12 Jährigen die Homepage erstellen lässt.

Aber ich bin lieber ruhig, ich hab nämlich gar keine.

[westfale64]

Hier die Belege aus Aquas neuem Quartalsbericht, die zeigen, dass Aqua noch nie ein eigenes Produkt verkauft gekriegt hat und dass die Initiatoren die Anlegermillionen mittels „management fees“ in die eigene Taqsche verschieben. Auch die Belege für die sich ankündigende Insolvenz mangels Massesind dort zu lesen.



„We currently have eight full-time employees.“
Eine 8-Mann-Klitsche, die Millionen an die Gründer Hamm und Stamm verschiebt. Wofür ?


„As of September 30, 2006, the date of our most recently available financial statements, we had a working capital deficit of $2,059,410.“
Der Laden ist mit 2 Mio. überschuldet.



„The revenues that we earned during the year ended September 30, 2006 were earned from services that we provided and equipment sales in connection with HVAC&R“
Der Beleg, dass Aqua weder mit „Aquamission“ noch mit „Thermomission“ oder „Energymission“ auch nur einen einzigen Euro eingenommen hat.


„Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products,“
Wer soll den unbrauchbaren Quatsch auch kaufen ?


„We incurred management fees of $716,231 during the year ended September 30, 2006. Of this amount, $147,529 were paid to Stamm & Lang Rechtsanwalte, a German law firm of which Achim Stamm, our former Chief Financial Officer, Secretary, Treasurer and a former director, is a partner, pursuant to a management consulting contract. An additional $173,140 was paid to Stamm & Lang in lieu of notice upon termination of our agreement with them in February, 2006. Also included in management fees are amounts charged under a management consulting contract with Hubert Hamm, a managing director of Aqua GmbH, and the lead consultant for research and development for Aqua GmbH’s HVAC&R department.“
Millionen für Hamm und Stamm. Daher die Verluste.




„Included in current liabilities are a total of $1,441,507 payable to a law firm of which, Achim Stamm, one of our former officers and directors, is a partner.“
Und noch ein Nachschlag für die Abzocker.



„As at September 30, 2006 we had cash in the amount of $187,432 and a working capital deficit of $2,059,410.“
Klar, dass die Bude überschuldet ist: Nichts verkauft, aber die Aqua-Gründer stecken sich die Anlegermillionen ein.


„we have not yet achieved profitability. We anticipate that we will continue to incur losses for the foreseeable future“
Auch in derZukunft erwartet Aqua nur Verluste.


„We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability and we anticipate that we will continue to incur substantial losses in the foreseeable future.“
Aqua hat kein Geld um die nächsten 12 Monate zu überleben. Klar bei dieser Aktionärsabzocke.


Die abgezockten Aqua –Aktionäre sollten lieber die Quartalsberichte lesen, anstatt sich von den vielen Auftragsmärchen einlullen zu lassen. Dann wüssten sie, dass die Aqua-Gründer nur die folgenden Ziele verfolgen:
-Verkauf der 100 Mio. Altaktien dieser Abzockbude vor der Insolvenz
-Kassieren der happigen Vorstandsgehälter solange diese Bande das Märchen am Laufen halten kann
-Kassieren von unbegründbaren „management fees“ solange der Laden noch nicht insolvent ist.






Und dieser Millionenbesch… soll ohne Strafverfahren wegen Betruges enden ?

[krofisch]

Antwort auf Beitrag Nr.: 27.876.162 von westfale64 am 21.02.07 14:47:39

Nach den typischen sehr kreativen und merkwürdigen 'Übersetzungskünsten' von 'Pinochio' hier das Original:


http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

10QSB 1 form10qsb.htm QUARTERLY REPORT FOR THE PERIOD ENDED DECEMBER 31, 2006
--------------------------------------------------------------------------------

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-QSB

(Mark One)

[ X ] Quarterly Report Under Section 13 Or 15(d) Of The Securities Exchange Act Of 1934
For the quarterly period ended December 31, 2006

[ ] Transition Report Under Section 13 Or 15(d) Of The Securities Exchange Act
For the transition period from ________to ________

COMMISSION FILE NUMBER 000-50163

AQUA SOCIETY, INC.
(Exact name of small business issuer as specified in its charter)

NEVADA 52-2357931
(State or other jurisdiction of incorporation or (IRS Employer Identification No.)
organization)

Konrad - Adenauer Strasse 9-13
45699 Herten, Germany
(Address of principal executive offices)

011-49-6031-791-760
Issuer's telephone number

Not Applicable
Former name, former address and former fiscal year, if changed since last report

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 [ X ] No [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: As of February 20, 2007 the Issuer had 118,178,323 Shares of Common Stock outstanding.

Transitional Small Business Disclosure Format (check one): Yes [ ] No [X]

1


--------------------------------------------------------------------------------

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

2


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.

INTERIM CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2006

(Stated in US Dollars)

(Unaudited)


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED BALANCE SHEETS
December 31, 2006 and September 30, 2006
(Stated in US Dollars)
(Unaudited)

December 31, September 30,
ASSETS 2006 2006

Current
Cash $ 108,837 $ 187,432
Accounts receivable – trade 76,838 143,039
– other – Note 4 59,367 -
Government value added tax receivable 97,631 217,919
Inventory 332,389 306,569
Loans receivable 1 1

675,063 854,960
Investments – Note 3 2 2
Patents and patent rights 193,485 193,485
Equipment 53,811 65,343

$ 922,361 $ 1,113,790

LIABILITIES

Current
Accounts payable and accrued liabilities – Note 4 $ 527,018 $ 537,271
Loans payable – Notes 4 and 5 3,165,735 2,377,099

3,692,753 2,914,370

STOCKHOLDERS’ DEFICIENCY

Common stock, $0.001 par value – Notes 6 and 8
300,000,000 shares authorized
118,178,323 shares issued and outstanding (September 30, 2006:
118,178,323 shares) 118,179 118,179
Additional paid-in capital 28,690,854 28,609,612
Accumulated other comprehensive loss (246,705 ) (150,368 )
Accumulated deficit (31,332,720 ) (30,378,003 )

(2,770,392 ) (1,800,580 )

$ 922,361 $ 1,113,790

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Sales $ 25,441 $ 782,242
Less: cost of goods sold 580 593,010

24,861 189,232

General and administrative expenses:
Accounting and audit fees 73,443 57,121
Advertising and promotion 19,329 58,187
Amortization 5,899 6,584
Bad debts 28,431 43,685
Bank charges and interest 117 85
Consulting fees 36,634 177,085
Development costs – Note 4 268,919 412,455
Filing fees 867 121
Interest 57,256 57,088
Legal fees – Note 4 130,228 36,264
Management fees – Note 4 57,988 124,857
Office and miscellaneous 23,270 66,274
Rent 26,154 28,917
Salaries and benefits 154,052 96,888
Stock-based compensation 57,242 -
Transfer agent 225 815
Travel – Note 4 39,524 80,478
Write down of patents - 8,994
Write down of inventory - 63,928

(979,578 ) (1,319,826 )

Operating loss before other item (954,717 ) (1,130,594 )

Other item:
Interest income - 5,292

Net loss for the period (954,717 ) (1,125,302 )

Other comprehensive loss
Foreign currency adjustment (96,337 ) (2,551 )

Comprehensive loss for the period $ (1,051,054 ) $ (1,127,853 )

Basic loss per share $ (0.01 ) $ (0.01 )

Weighted average number of shares outstanding 118,178,323 115,771,988

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Cash flows used in Operating Activities
Net loss for the period $ (954,717 ) $ (1,125,302 )
Items not affecting cash:
Amortization 5,899 6,584
Stock-based compensation 57,242
Write-down of patents - 8,994
Write-down of inventory - 63,928
Interest imputed on loans payable 24,000 -
Changes in non-cash working capital items:
Accounts receivable 10,882 (126,415 )
Government value added tax receivable 126,004 12,329
Inventory (13,251 ) 9,748
Accounts payable and accrued liabilities (23,954 ) 526,835

(767,895 ) (623,299 )

Cash flows used in Investing Activities
Equipment disposal 5,634 48,178
Repayment of loans receivable - (68,388 )

5,634 (20,210 )

Cash flows from Financing Activity
Increase in loans payable 677,508 174,408

Effect of exchange rates on cash 6,158 (7,730 )

Decrease in cash during the period (78,595 ) (476,831 )

Cash, beginning of the period 187,432 658,949

Cash, end of the period $ 108,837 $ 182,118

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Capital stock issued for cash 1 $ 31,042 $ - - $ - $ - $ - $ 31,042
Contribution of assets - - 25,056 - - - - 25,056
Pursuant to the acquisition of Aqua
Society GmbH 10,000,000 10,000 - 34,000,000 34,000 - - 44,000
Exchange of shares (1 ) (31,042 ) - - - - - (31,042 )
Outstanding shares of Company
prior to acquisition 69,908,000 69,908 - - - - (194,748 ) (124,840 )
Unrealized loss on translation - - - - - (997 ) - (997 )
Net loss for the period - - - - - - (67,448 ) (67,448 )

Balance, September 30, 2004 79,908,000 79,908 25,056 34,000,000 34,000 (997 ) (262,196 ) (124,229 )

Issued for cash:
Pursuant to private placement - at $2.40 416,666 417 999,583 - - - - 1,000,000
- at $1.98 1,232,322 1,233 2,438,766 - - - - 2,439,999
Pursuant to exercise of options - at $1.70 215,000 215 365,285 - - - - 365,500
Conversion of special warrants 34,000,000 34,000 - (34,000,000 ) (34,000 ) - - -
Stock-based compensation - - 22,480,000 - - - - 22,480,000
Unrealized gain on translation - - - - - 89,594 - 89,594
Net loss for the year - - - - - - (25,787,558 ) (25,787,558 )

Balance, September 30, 2005 115,771,988 115,773 26,308,690 - - 88,597 (26,049,754 ) 463,306

Pursuant to private placement - at $1.04 1,160,960 1,161 1,206,237 - - - - 1,207,398
- at $0.88 1,245,375 1,245 1,094,685 - - - - 1,095,930
Unrealized loss on translation - - - - - (238,965 ) - (238,965 )
Net loss for the period - - - - - - (4,328,249 ) (4,328,249 )

Balance, September 30, 2006 118,178,323 118,179 28,609,612 - - (150,368 ) (30,378,003 ) (1,800,580 )

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

Continued

AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Stock-based compensation - - 57,242 - - - - 57,242
Unrealized loss on translation - - - - (96,337 ) - (96,337 )
Contribution of interest – Note 5 - - 24,000 - - - - 24,000
Net loss for the period - - - - - - (954,717 ) (954,717 )

Balance, December 31, 2006 118,178,323 $ 118,179 $ 28,690,854 - $ $ (246,705 ) $ (31,332,720 ) $ (2,770,392 )

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2006
(Stated in US Dollars)
(Unaudited)

Note 1 Interim Reporting

While information presented in the accompanying interim consolidated financial statements is unaudited, it includes all adjustments, which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented. All adjustments are of a normal recurring nature. The accompanying interim consolidated financial statements do not include all information and footnote disclosures required for an annual set of financial statements prepared under generally accepted accounting principles in the United States of America. The accompanying interim consolidated financial statements should be read in conjunction with the Company’s September 30, 2006 audited consolidated financial statements. Operating results from the period ended December 31, 2006 are not necessarily indicative of the results that can be expected for the year ending September 30, 2007.


Note 2 Nature and Continuance of Operations

These interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for the next twelve months. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. At December 31, 2006, the Company had not yet achieved profitable operations, has accumulated losses of $31,332,720 since its inception, has a working capital deficiency of $3,017,690 and expects to incur further losses in the development of its business, all of which casts substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations 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 considers that the Company will be able to obtain additional funds by equity financing and/or related party advances; however there is no assurance of additional funding being available.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 2
(Unaudited)

Note 3 Investments

i) UFI Tec GmbH

By an agreement dated November 30, 2004 and effective December 10, 2004, the Company acquired a 33% interest in UFI-Tech GmbH (“UFI”), a German limited company, for consideration of EUR 25,565 (US $32,476). During the year ended September 30, 2005, the Company wrote down the $32,476 investment and related loans receivable of $67,227 to their net realizable value of $1. During the year ended September 30, 2006, the Company sold 13.1% of their 33% interest (19.9% interest remains) for proceeds of EUR 10,072 (US $12,237) and wrote down an additional loan receivable of $66,094 to its net realizable value of $1.

ii) By an agreement dated February 18, 2006, the Company acquired a 51% interest in TMR GmbH (“TMR”), a German limited company, in consideration of EUR 12,750 (US $15,999). TMR is involved in the development, installation, distribution and management of renewable resources. At the date of acquisition, TMR had no business, assets or liabilities. During the year ended September 30, 2006, the Company wrote down its investment by $15,674 (EUR 12,749) to $1. During the three months ended December 31, 2006, the Company disposed of its interest in TMR for $1.

Note 4 Related Party Transactions – Note 7

The Company incurred the following amounts charged by directors of the Company, the brother of a director of the Company and a law firm of which a former director of the Company is a partner:

Three months ended
December 31,
2006 2005

Development costs $ 88,013 $ 191,595
Legal fees - 26,073
Management fees 57,988 124,857
Travel - 1,780

$ 146,001 $ 344,305

Accounts receivable – other includes $59,367 related to an advance to a former officer of the Company.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 3
(Unaudited)

Note 4 Related Party Transactions – Note 7 – (cont’d)

Included in accounts payable and accrued liabilities is $77,498 (September 30, 2006: $79,358) due to directors of the Company and a former director of the Company. These amounts are unsecured, non-interest bearing and have no specific terms for repayment.

Included in loans payable is $1,527,238 (September 30, 2006: $1,441,507) due to a law firm of which a former director of the Company is a partner.

Note 5 Loans Payable

Of the total loans outstanding at December 31, 2006, $950,886 (September 30, 2006: $883,822) bear interest at 7.5% per annum, are secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $773,403 (September 30, 2006: $743,675) are non-interest bearing, secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $1,319,261 (September 30, 2006: $634,276) are non-interest bearing, unsecured and due on demand, and $122,185 (September 30, 2006: $115,326) of loans payable bear interest of 7.5% per annum, are unsecured and are repayable on or before December 31, 2006. The loans due on or before December 31, 2006 were not repaid and are consequently in default. The company has imputed interest on the non-interest bearing loans at 10% per annum for a total of $24,000 during the three months ended December 31, 2006.

Note 6 Capital Stock – Note 8

Commitments:

Share Purchase Options

On December 21, 2006, the Company adopted a second stock incentive plan (the “2006 Stock Option Plan”) to provide incentives to employees, directors, officers and permitted consultants. The 2006 Stock Plan provides for the issuance of up to 7,000,000 options with a term to be determined by the plan administer or, if not so established, ten years. The maximum aggregate number of shares that may be optioned under the 2006 Stock Option Plan will be increased effective the first day of each of the Company’s fiscal quarters (“adjustment date”), beginning with the fiscal quarter commencing April 1, 2007 by an amount equal to the lesser of i) 15% of the outstanding shares on the first day of the applicable quarter less a) the number of shares of common stock that may be optioned and sold under the plan prior to the adjustment date and b) the number of shares of common stock that may be optioned and sold under any other stock option plan in effect as of the adjustment date or ii) such lesser number of shares of common stock as may be determined by the Board.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 4
(Unaudited)

Note 6 Capital Stock – Note 8 – (cont’d)

Commitments: – (cont’d)

Share Purchase Options – (cont’d)

A summary of the stock options outstanding as at December 31, 2006 and changes during the period is presented below:

Weighted
Average
Exercise
Shares Price

Options outstanding at September 30, 2006 7,535,000 $ 1.70
Granted 4,500,000 $ 0.40

Options outstanding at December 31, 2006 12,035,000 $ 1.21

Options exercisable at December 31, 2006 7,535,000

A summary of stock options outstanding at December 31, 2006, is as follows:

Exercise
Number Price Expiry Date

562,500 $0.40 April 1, 2009
562,500 $0.40 July 1, 2009
562,500 0.40 October 1, 2009
7,535,000 $1.70 October 15, 2009
562,500 $0.40 January 1, 2010
562,500 $0.40 April 1, 2010
562,500 $0.40 July 1, 2010
562,500 $0.40 October 1, 2010
562,500 $0.40 January 1, 2011

12,035,000

The Company used the Black-Scholes option pricing model to compute estimated fair value at each of the grant dates.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 5
(Unaudited)

Note 6 Capital Stock – Note 8– (cont’d)

Commitments – (cont’d)

Share Purchase Options – (cont’d)

The Black-Scholes option-pricing model requires the input of highly subjective assumptions including the expected price volatility. Changes in the subjective input assumptions can materially affect the fair value estimate and therefore the Black-Scholes model does not necessarily provide a reliable single measure of the fair value of the Company’s share purchase options.

The Company used the Black-Scholes option pricing model to compute the estimated fair value of the options granted during the three months ended December 31, 2006, based on the following assumptions:

Risk-free interest rate 4.84%
Dividend yield rate 0.00%
Price volatility 159.23%
Weighted average expected life of options 2.03 years
Weighted average fair value $0.36

The Company recognized stock-based compensation of $57,242 during the three months ended December 31, 2006.

Share Purchase Warrants

As at December 31, 2006, a total of 2,406,335 share purchase warrants exercisable into 2,406,335 common shares were outstanding as follows:

Exercise
Number Price Expiry Date

1,169,960 $1.30 February 9, 2008
1,245,375 $1.10 June 15, 2008

2,406,335


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 6
(Unaudited)

Note 7 Commitments

i) Lease Contracts

By four lease agreements dated September 30, 2004 and effective October 1, 2004, the Company entered into four lease contracts for the Company’s corporate head office. The leases require total payments of EUR 6,690 (US$8,826) per month. Two of the leases are effective until May 31, 2007 and the other two are effective until December 31, 2007. The leases will be automatically extended every year unless cancelled with six months advance notice.

Minimum future lease payments

September 30, 2007 $ 80,960
2008 12,144

$ 93,104

ii) Management/Consulting Contracts


a) By a management consulting contract dated September 30, 2004 and effective October 1, 2004, the Company’s subsididary (“GmbH”) agreed to pay EUR15,000 (US $19,789) per month to a managing director of GmbH for development, production and quality assurance services. The managing director of the GmbH is also a director of the Company. This contract is for an unlimited term but may be terminated by either party with six months advance notice.


b) By a consulting agreement dated October 1, 2004, the Company agreed to pay $2,000 per month to a consultant of the Company. The agreement is effective for a term of 5 years. The Company granted 500,000 common stock options upon signing of the agreement. The exercise price of the stock options is $1.70 per share and expires on October 15, 2009.


c) By a management consulting contract dated and effective October 1, 2004, the Company agreed to pay EUR 5,000 (US$6,274) per month for marketing and business development services. Effective October 1, 2005, the contract was amended to increase the payment to EUR 7,500 (US $9,411) per month. Effective October 1, 2006, the contract was amended to EUR 15,000 (US$19,028) per month for October, November and December, 2006. By an agreement dated November 1, 2006 and effective January 11, 2007, the Company agreed to the payment of EUR 2,000 (US $2,638) per month until December 31, 2007 and a 5% commission of gross sales to third parties which occurred as a result of the consultant’s work. The contract automatically renews for one year if not terminated at the end of a year by giving six months advance notice.



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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 7
(Unaudited)

Note 7 Commitments – (cont’d)

ii) Management/Consulting Contracts – (cont’d)

d) By a management consulting contract dated and effective January 1, 2005, the GmbH agreed to pay EUR 5,520 (US $7,002) per month for marketing, sales and distribution services. By an agreement dated November 10, 2006 and effective January 1, 2007, the contract was amended to decrease the payment to EUR 3,750 (US $4,947) per month with additional payments of EUR 10,000 (US $12,686) and EUR 5,000 (US$6,343) in November and December 2006 respectively. The contract ends on December 31, 2007 and may be terminated by either party with three months advance notice.

e) By a management consulting agreement dated August 1, 2005, the GmbH agreed to pay EUR 3,900 (US $5,145) per month for administration services for the research and development department. The contract is for an unlimited term and may be terminated by either party by giving six months advance notice.

f) By a management consulting contract dated December 12, 2005 and effective January 1, 2006, the GmbH agreed to pay EUR 20,000 (US $25,371) per month to March 31, 2006 and EUR 25,000 (US $31,714) per month to December 31, 2006 for technical services. Effective September 18, 2006, the contract was amended and the payment was decreased to EUR 10,000 (US$ 12,686) per month and extended to June 30, 2007. The management consulting contract is with a company owned by a director of the Company.

g) By a management consulting contract dated November 10, 2004, the Company agreed to pay EUR 500 (US $660) per press release to a former director of the Company. This contract is for an unlimited term but may be terminated by either party with one month advance notice.

h) By management consulting agreements dated December 28, 2006, the Company agreed to pay directors of the Company a total of EUR 56,000 (US $73,879) for the period October 1, 2006 to December 31, 2006 and EUR 14,000 (US $18,470) per month for the period January 1, 2007 to September 30, 2007. The contract is for an unlimited term but may be terminated by either party with three months advance notice.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 8
(Unaudited)

Note 8 Subsequent Event

Subsequent to December 31, 2007, the Company approved a private placement offering of 7,500,000 units at $0.30 per unit with each unit consisting of one share of the Company’s common stock and one-half share purchase warrant for total proceeds of $2,250,000. Each share purchase warrant entitles the holder to purchase one additional share of the Company’s common stock at $0.35 per share for a period of one year from the date of issuance of the units.


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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this Quarterly Report constitute "forward-looking statements". These statements, identified by words such as “plan”, "anticipate," "believe," "estimate," "should," "expect" and similar expressions include our expectations and objectives regarding our future financial position, operating results and business strategy. These statements reflect the current views of management with respect to future events and are subject to risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from those described in the forward-looking statements. Such risks and uncertainties include those set forth under the caption "Management's Discussion and Analysis or Plan of Operation" and elsewhere in this Quarterly Report. We do not intend to update the forward-looking information to reflect actual results or changes in the factors affecting such forward-looking information. We advise you to carefully review the reports and documents we file from time to time with the United States Securities and Exchange Commission (the “SEC”), particularly our Annual Reports on Form 10-KSB and our Current Reports on Form 8-K.

As used in this Quarterly Report, the terms "we", "us", "our", “the Company” and “Aqua Society” mean Aqua Society, Inc. unless otherwise indicated. All dollar amounts in this Quarterly Report are in U.S. dollars unless otherwise stated.

INTRODUCTION

The following discussion and analysis summarizes our plan of operation for the next twelve months, our results of operations for the three month period ended December 31, 2006 and changes in our financial condition from September 30, 2006. This discussion should be read in conjunction with the Management’s Discussion and Analysis or Plan of Operation included in our Annual Report on Form 10-KSB for the year ended September 30, 2006.

We were incorporated under the laws of the State of Nevada on March 2, 2000, under the name “V G Tech, Inc.”

On September 22, 2004, we completed the acquisition of Aqua Society GmbH (“Aqua GmbH”). Prior to our acquisition of Aqua GmbH, we were in the business of providing services in the areas of digital graphics and special effects. Upon completing the acquisition of Aqua GmbH, we abandoned this digital imaging business. We are now in the business of designing and developing applied technologies, and providing consulting services, in the areas of heating, ventilation, air conditioning, refrigeration, water purification, waste water treatment, and, our latest business segment, energy (collectively, the “Aqua Business”).

Effective December 27, 2004, we changed our name to “Aqua Society, Inc.” to better reflect the nature of our current business operations

Recent Corporate Developments

The following significant corporate developments have occurred since our fiscal year ended September 30, 2006:

1. After the completion of our 2006 fiscal year, we completed the construction of a demonstration prototype of our EnergyMission / Yellow Box technology. A media event to showcase this demonstration model was held at our facilities on December 21, 2006. This demonstration unit will be used by us for marketing and demonstration purposes as well as for research and development.


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2. On December 21, 2006, our Board of Directors approved and adopted our 2006 Stock Option Plan (the “2006 Option Plan”). Under the 2006 Option Plan, options may be granted for a maximum of 7,000,000 shares of our common stock. The maximum number of shares that may be optioned under the 2006 Option Plan will increase each fiscal quarter, beginning with the fiscal quarter commencing April 1, 2007, by an amount equal to 15% of the total increase in the number of shares of common stock outstanding or such lesser amount as may be determined by our Board of Directors.


A summary of our 2006 Option Plan is set forth in our Current Report on Form 8-K filed with the SEC on December 29, 2006. The full text of the 2006 Option Plan is attached as Exhibit 10.1 to our Current Report on Form 8-K filed with the SEC on December 29, 2006, and is incorporated by reference herein.


3. Also on December 21, 2006, our Board of Directors approved the grant of options under the 2006 Option Plan for 2,500,000 shares of our common stock at an exercise price of $0.40 per share to Mr. Terberg and options to purchase an aggregate of 2,000,000 shares of our commons stock to Mr. van der Zee, also at a price of $0.40. The options granted to each of Mr. Terberg and Mr. van der Zee vest in equal quarterly instalments, commencing on April 1, 2007 and expiring 2 years after the applicable vesting date.


Changes to the Board of Directors and Executive Officers

In addition to the above corporate developments, there have been a number of changes to our Board of Directors and executive officers since the end of our 2006 fiscal year.

Effective October 31, 2006, Robert Terberg replaced Petrus Lodestijn as our Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary and also as a member of our Board of Directors. Also effective on October 31, 2006, our Board of Directors was expanded by the appointment of Hubert Hamm as a director of the Company and by the appointment of Hugo van der Zee as the Chairman of the Company’s Board of Directors.

PLAN OF OPERATION

During the next twelve months, we will focus: (1) on the design and construction of products ordered from us; (2) on further developing the market for our products; and (3) on continuing to develop and improve our products. Specifically, our plan of operation for the next twelve months involves the following:

1. Design and Construction of Ordered Units: During the next twelve months, we will work on the design and construction of the waste heat power generation, AquaMission and ThermoMobil units for which we have received orders.


2. Market Development Activities: Over the next twelve months we intend to do the following in an effort to continue developing a market for our products and services:


(a) We have completed the construction of a prototype EnergyMission / Yellow Box unit that we will use for marketing and demonstration purposes, as well as for ongoing research and development. The prototype unit will be used by us to demonstrate the effectiveness of our technology to trade media and industry representatives on an ongoing basis.


(b) We are also in the process of setting up a wholly owned subsidiary in the Netherlands (the “Dutch Subsidiary”), through which we will seek to promote all of our products in the “Benelux” countries (Belgium, the Netherlands and Luxemberg). In addition, we intend to use the Dutch Subsidiary to establish an additional production facility to be located in


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the Netherlands. This production facility is expected to enable us to significantly expand our production capabilities from the limited facilities located in Herten, Germany. The Dutch Subsidiary is expected to be based in Zevenaar, near Arnhem, in the east of the Netherlands.


(c) We will continue to attempt to market the AquaMission combined air-conditioning and drinking water product in geographic locations with high ambient temperatures and relative humidity but without readily available sources of fresh water, such as the Persian Gulf and the Middle East. Three demonstration models of the AquaMission are currently on location in the Middle East. We are currently in the process of seeking new sales agents for our products in the Middle East.


We will continue to try and generate sales in the Middle East using these demonstration models.


In addition to these activities, we may also seek to increase brand awareness through various advertising activities and sponsorships.

3. Product Development Activities: During the next twelve months, we will also continue to work on further developing and improving our existing products in an effort to increase their marketability. As part of these efforts, we have developed and built a demonstration model of our Yellow Box technology.


We are also in the process of constructing a high-tech “climate room” that will allow us to simulate the world’s various humidity and temperature zones. This “climate room” will assist us in optimizing our AquaMission unit for different geographic locations.


We anticipate spending approximately $2,000,000 in pursuing our plan of operation over the next twelve months. As of December 31, 2006, the date of our most recently available financial statements, we had a working capital deficit of $3,017,690. As such, we do not have sufficient working capital to meet our expected needs over the next twelve months. Although we have recently begun to earn revenues, we have not yet earned a net profit and we do not expect to achieve profitability in the near future as we expect to continue to incur substantial product development, marketing and operating expenses. We are likely to continue to need substantial additional financing in order to implement our plan of operation. Our management expects that any additional financing that we obtain will likely be in the form of equity financing.

Our actual expenditures and business plan may differ from the one stated above. Our Board of Directors may decide not to pursue this plan. In addition, we may modify the plan based on available financing.

RESULTS OF OPERATIONS

First Quarter Summary

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Revenue $25,441 $782,242 (96.7)%
Cost of Goods Sold (580) (593,010) (99.9)%
General and Administrative Expenses (979,578) (1,319,826) (25.8)%
Other Items Nil (5,292) (100.0)%
Net Loss $(954,717) $(1,125,302) (15.2)%

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Revenues

During our last fiscal year, we earned revenues from HVAC&R and energy optimization consulting services, and from equipment sales made in connection with the provision of those services. However, we do not have a long-term history of earning revenues and, as a result, we are unable to accurately forecast future revenues. Readers are cautioned that our past operating results may not be indicative of future performance.

During the fiscal year ended December 31, 2006, our revenue decreased by 96.7% as compared to the same period ended in 2005. Since their appointment in October, 2006, our new executive officers and directors have been conducting a company wide review of our operations. During this period, we scaled back our HVAC&R and energy optimizing consulting activities. As a result, our revenues decreased substantially.

During the next twelve months, we intend to concentrate our resources on developing the market for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, as we believe that these products will provide us with the greatest opportunity for future profitability. As a result, we may continue to scale back the HVAC&R and energy optimization consulting services that we have provided in the past.

Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products, and there are no assurances that we will be able earn such revenues in the future.

Operating Costs and Expenses

Our operating expenses for the quarterly period ended December 31, 2006 consisted of the following:

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Accounting and audit fees $73,443 $57,121 28.6%
Advertising and promotion 19,329 58,187 (66.8)%
Amortization 5,899 6,584 (10.4)%
Bad debts 28,431 43,685 (34.9)%
Bank charges and interest 117 85 37.6%
Consulting fees 36,634 177,085 (79.3)%
Development costs 268,919 412,455 (34.8)%
Filing fees 867 121 616.5%
Interest 57,256 57,088 0.3%
Legal fees 130,228 36,264 259.1%
Management fees 57,988 124,857 (53.6)%
Office and miscellaneous 23,270 66,274 (64.9)%
Rent 26,154 28,917 (9.6)%
Salaries and benefits 154,052 96,888 (59.0)%
Stock-based compensation 57,242 Nil 100.0%
Transfer agent 225 815 (72.4)%

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Travel 39,524 80,478 (50.9)%
Write down of patents Nil 8,994 (100.0)%
Write down of inventory Nil 63,928 (100.0)%
Total General and Administrative Expenses $979,578 $1,319,826 (25.8)%

Our general and administrative expenses decreased by $340,248, or 25.8%, during the three month period ended December 31, 2006 as compared to 2005. This decrease in our general and administrative expenses was primarily generated as a result of the efforts of our current management to streamline our operations. During the next few months, we expect that our general and administrative expenses will continue to fluctuate somewhat as we continue to review and overhaul our current operations.

Management fees decreased by $66,869, or 53.6%, during the quarter ended December 31, 2006, primarily because of the termination of a management services contract under which we had been obligated to pay management fees of EUR 20,000 per month to a law firm of which a former officer and director is a partner. Also, during the last fiscal quarter, we scaled back some of our product development activities as our management conducted a company wide assessment of our operations. As a result, development costs, and consulting fees associated with our development activities, also decreased significantly during our last fiscal quarter. Office and travel expenses also decreased primarily as a result of our efforts to streamline our operations. Also contributing to the overall decrease in our general and administrative expenses from the quarter ended December 31, 2005 was the fact that, during our December 31, 2005 fiscal quarter, we recognized one-time patent and inventory write down charges totaling $72,922. No patent or inventory write down charges were recognized for the period ended December 31, 2006.

Offsetting the above decreases were significant increases in accounting and audit fees, legal fees and salaries and benefits. The increase in legal fees relates primarily to amounts incurred in connection with the negotiation of our patent licensing agreement with Ecoenergy Patent GmbH and in connection with the restructuring of our operations by our new management. The events giving rise to the additional amounts spent on legal fees are not expected to be ongoing. Accounting and auditing fees increased as a result of an increase in the amounts charged by our consulting accountants and by our independent auditors. The increase in salaries and benefits was a result of the hiring of two additional non-management employees.

Also, during the period ended December 31, 2007, we recorded stock-based compensation expenses of $57,242 on account of stock options granted to certain of our officers and directors during the period. No options or other stock-based compensation were granted during the period ended December 31, 2005.

LIQUIDITY AND CAPITAL RESOURCES

Working Capital

At At Percentage
December 31, 2006 September 30, 2006 Increase / (Decrease)
Current Assets $675,063 $854,960 (21.0)%
Current Liabilities (3,692,753) (2,914,370) 26.7%
Working Capital Surplus (Deficit) $(3,017,690) $(2,059,410) 46.5%

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Included in current liabilities are a total of $1,527,238 payable to a law firm of which one of our former officers and directors, is a partner. We are currently in negotiations with the former officer and director for the settlement of the amounts owed to him and his law firm.

Cash Flows

Three Months Ended December 31
2006 2005
Cash Flows used in Operating Activities $(767,895) $(623,299)
Cash Flows used in Investing Activities 5,634 (20,210)
Cash Flows from Financing Activities 677,508 174,408
Effects of Foreign Exchange Rates 6,158 (7,730)
Net Decrease in Cash During Period $(78,595) $(476,831)

During the period ended December 31, 2006, we obtained financing in the form of a EUR 500,000 loan. This loan is unsecured, non-interest bearing and payable upon demand.

Total loans payable at December 31, 2006 consist of the following amounts:

(a) $950,886, bearing interest at a rate of 7.5% per annum, secured by accounts receivable and repayable on or before December 31, 2006;


(b) $773,403, non-interest bearing, secured by accounts receivable and repayable on or before December 31, 2006;


(c) $122,185, bearing interest a rate of 7.5% per annum, unsecured and payable on or before December 31, 2006; and


(d) $1,319,261, non-interest bearing, unsecured and due on demand.


The amounts payable on or before December 31, 2006 have not yet been repaid and are past due. We are currently in negotiations with our creditors for the settlement and repayment of amounts owed to them.

As at December 31, 2006 we had cash in the amount of $108,837 and a working capital deficit of $3,017,690. We anticipate spending approximately $2,000,000 over the next 12 months in pursuing our plan of operation. We will require substantial additional financing in the next few months in order to pursue our current plan of operation.

Although we earned revenues during our fiscal year ended September 30, 2006, we did not earn significant revenues during the fiscal quarter ended December 31, 2006 and we have not yet achieved profitability. Our future financial results are uncertain due to a number of factors, many of which are outside of our control. These factors include, but are not limited to:

(a) our ability to commercially market our ThermoMobil and AquaMission products;


(b) our ability to develop a commercially marketable EnergyMission/Yellow Box product;


(c) our ability to raise additional capital necessary to implement our business strategy and plan of operation;


(d) our ability to compete with other existing technologies; and


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(e) the success of any marketing and promotional campaign which we conduct for our products once development is complete.


Due to the uncertainty regarding our future revenues and profitability, we expect that the majority of additional financing that we obtain, if any, will likely be in the form of equity financing. Our management does not expect sufficient debt financing to be available to us through traditional sources at this stage of our business.

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 are material to our stockholders.

CRITICAL ACCOUNTING POLICIES

The preparation of financial statements in conformity with generally accepted accounting principles requires our management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Our management routinely makes judgments and estimates about the effects of matters that are inherently uncertain.

We have identified certain accounting policies, described below, that are most important to the portrayal of our current financial condition and results of operations. Our significant accounting policies are disclosed in Note 3 to the interim financial statements included in this Quarterly Report.

Principles of Consolidation

The consolidated financial statements include the accounts of Aqua Society, Inc and our wholly owned subsidiary, Aqua Society GmbH, a German limited liability company (“Aqua GmbH”). All inter-company transactions have been eliminated.

Foreign Currency Translation

Our functional currency is United States dollars. Our subsidiary, Aqua GmbH, uses the Euro as its functional currency. Accordingly, assets and liabilities of Aqua GmbH are translated into US dollars at the exchange rate in effect at the balance sheet date and capital accounts are translated at historical rates. Income statement accounts are translated at the average rates of exchange prevailing during the period. Translation adjustments arising from the use of differing exchange rates from period to period are included in the Accumulated Other Comprehensive Gain/(Loss) account in Stockholders’ Equity.

Transactions undertaken in currencies other than the functional currency of the entity are translated using the exchange rate in effect as of the transaction date. Any exchange gains and losses would be included in the Statement of Operations.

Patents, Patent Rights and Amortization

Patents and patent rights are recorded at cost. We provide for the amortization of patents and patent rights on the straight-line basis over their estimated economic lives, estimated to be 5 years. Amortization is recorded upon the patents being awarded.

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RISKS AND UNCERTAINTIES

Need For Financing

We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability. We are likely to continue to need substantial additional financing in order to implement our long term business plan. There is no assurance that we will be able to acquire sufficient financing on terms acceptable to us or at all. If financing is not available or obtainable, our ability to meet our financial obligations and pursue our plan of operation will be substantially limited and investors may lose a substantial portion or all of their investment

Limited Operating History, Risks Of A New Business Venture

We are still in the process of developing our business and have only recently begun to earn revenues. Readers are cautioned that our past results may not be indicative of future performance.

Potential investors should be aware of the difficulties normally encountered by a new enterprise and the high rate of failure of such enterprises. The potential for future success must be considered in light of the problems, expenses, difficulties complications and delays encountered in connection with the development of a business in the area in which we intend to operate and in connection with the formation and commencement of operations of a new business in general. These include, but are not limited to, unanticipated problems relating to research and development programs, marketing, approvals by government agencies, competition and additional costs and expenses that may exceed current estimates. There is no history upon which to base any assumption as to the likelihood that we will prove successful, and there can be no assurance that we will ever achieve profitable operations.

If We Are Unable To Achieve Market Acceptance For Our Products, We Will Be Unable To Build Our Business

To date, we have completed technical development of our EnergyMission/Yellow Box, ThermoMobil and AquaMission products. However, we have only received a limited number of confirmed orders for these products. Our future success will depend upon the acceptance of our existing products, and other products that we develop, by the respective industries in which we intend to market those products. Achieving such acceptance will require significant investments in research and development and market development. The technologies upon which our products and services are based are relatively new and are evolving. Accordingly, in order to achieve commercial acceptance, we will have to educate prospective clients about the uses and benefits of our products.

Even If We Are Able To Develop A Commercial Market For Our Products, We May Not Have The Ability To Meet The Demand For Those Products

We intend to complete the construction of the initial AquaMission, ThermoMobil and EnergyMission/Yellow Box units ordered from us at our facilities located in Herten, Germany. However, the size of these facilities is limited.

We are currently in the process of establishing a wholly owned subsidiary in the Netherlands, with which we intend to establish a larger scale production facility. Further, we intend to seek supply contracts and/or joint venture/licensing agreements with independent manufacturing companies to manufacture our products on a large scale basis, however we have not yet entered into any such contracts or agreements.

Our Operations May Be Subject to Extensive Government Regulation

Our operations may be subject to extensive government regulations in the United States, Europe and elsewhere. In order to sell our products, we may have to satisfy numerous mandatory procedures,

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regulations, and safety standards established by international, federal and state regulatory agencies. Although we currently comply with stringent German regulations, there can be no assurance that we can successfully comply with all present and future government regulations worldwide.

Risks of International Business Operations

Although we are incorporated in the United States, the majority of our operating activities are conducted in Germany. Additionally, in the past, we have targeted markets for our products in the Persian Gulf and other developing parts of the world, such as Africa. As such, a significant portion of our business depends upon our ability to establish and maintain successful relationships with businesses and governments located outside of the United States. If we are unable to establish and maintain such relationships, we may not be able to implement our business plan or plan of operations.

In order to better manage the risks associated with our international operations, our management has decided to focus their business development efforts on markets near to our base of operations, such as Germany, the Netherlands and the rest of Europe.

Rapid Technological Changes In Our Industry Could Make Our Products Obsolete

The industry in which we intend to compete is characterized by rapid technological change and intense competition. New technologies, products and industry standards will develop at a rapid pace which could make our planned products obsolete. Our future success will depend upon our ability to develop and introduce product enhancements to address the needs of our customers.

Asserting And Defending Intellectual Property Rights May Impact Results Of Operations

The success of our business may depend on our ability to successfully defend our intellectual property rights. Future litigation may have a material impact on our financial condition even if we are successful in developing and marketing products. We may not be successful in defending or asserting our intellectual property rights.

An adverse outcome in any litigation or interference proceeding could subject us to significant liabilities to third parties and require us to cease using the technology that is at issue or to license the technology from third parties. In addition, a finding that any of our intellectual property rights are invalid could allow our competitors to more easily and cost-effectively compete. Thus, an unfavorable outcome in any patent litigation or interference proceeding could have a material adverse effect on our business, financial condition or results of operations.

The cost to us of any patent litigation or interference proceeding could be substantial. Uncertainties resulting from the initiation and continuation of patent litigation or interference proceedings could have a material adverse effect on our ability to compete in the marketplace. Patent litigation and interference proceedings could also absorb significant management time.

We May Be Subject To Product Liability Lawsuits

We may be subject to product liability claims. Such claims may absorb significant management time and could degrade our reputation and the marketability of our products. If product liability claims are made with respect to our products, we may need to recall the implicated product which could have a material adverse effect on our business, financial condition and results of operations. In addition, although we may maintain product liability insurance, we cannot be sure that such insurance will be adequate to cover potential product liability lawsuits. Insurance is expensive and in the future may not be available on acceptable terms, if at all. If a successful product liability claim or series of claims exceeds insurance coverage, it could have a material adverse effect on our business, financial condition and results of operations.

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If We Are Late In Filing Any Of Our Annual Or Quarterly Reports During The Next Two Years, Our Common Stock May Become Ineligible For Quotation On The OTC Bulletin Board, Which Would Negatively Affect The Market For Our Shares And Our Ability To Obtain Additional Financing.

On November 16, 2005, the SEC approved certain changes to NASD Rule 6530. As amended, NASD Rule 6530 provides that OTC Bulletin Board (“OTCBB”) issuers who are late in filing their annual or quarterly reports three times within a 24-month period will be ineligible for quotation on the OTCBB. In order to regain eligibility under this rule, the issuer would need to timely file all of its annual and quarterly reports due in a one year period. The amended NASD Rule 6530 does not apply to annual or quarterly reports for periods ended before October 1, 2005.

From time to time, we have been late in filing our quarterly and annual reports. If we are late in filing our annual or quarterly reports three times within a 24-month period, we may become ineligible for quotation on the OTCBB, which would negatively affect the market for our common stock. In addition, if our common stock is no longer eligible for quotation on the OTCBB, it may become more difficult for us to obtain additional equity financing as shares of our common stock will be less attractive to potential investors.

ITEM 3. CONTROLS AND PROCEDURES.

Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as of the end of the period covered by this report. Based on that evaluation, our principal executive officer and principal financial officer has concluded that our disclosure controls and procedures were not effective as we failed to timely file our periodic reports with the SEC on a number of occasions during the past fiscal year.

Our new management is in the process of taking measures to improve our disclosure controls and procedures in an effort to ensure that the information required to be disclosed is internally communicated and publicly reported within the time periods specified in the SEC’s rules and forms. In particular, we intend to engage outside consultants to assist us in the preparation of our accounting records and financial statements and will attempt to increase internal accountability and to clearly define internal communication channels in an effort to remedy the deficiencies identified by our principal executive officer and principal financial officer.

By working with our external consultants and our principal independent accountants, our management believes that the financial statements and the other information presented in this Quarterly Report are materially correct.

There were no changes in our internal control over financial reporting during the last fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

None.

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

All unregistered sales of our equity securities completed during our fiscal quarter ended December 31, 2006 have been previously reported in the Quarterly Reports on Form 10-QSB and Current Reports on Form 8-K that we filed during that period.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

None.

ITEM 5. OTHER INFORMATION.

Compensatory Arrangements Of Certain Officers

Effective December 28, 2006, we entered into management consulting services agreements with each of Robert Terberg, our current Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary, and currently a member of our Board of Directors, and Hugo van der Zee, currently the Chairman of our Board of Directors. The terms of our agreements with Mr. Terberg and Mr. van der Zee are disclosed in our Annual Report filed with the SEC on January 16, 2007.

ITEM 6. EXHIBITS.

Exhibit
Number Description of Exhibit
3.1 Restated Articles of Incorporation filed with the Nevada Secretary of State effective December 27, 2004.(5)
3.2 Bylaws, effective March 2, 2000.(1)
10.1 Share Purchase Agreement between Water-Capital-Holding Ltd., V G Tech, Inc., Aqua Society GmbH and Steve Livingston, dated for reference September 3, 2004.(2)
10.2 Agreement and Deed of Transfer between Water-Capital-Holding Ltd. and V G Tech, Inc. dated for reference September 22, 2004.(3)
10.3 Certified Translation of a Notarial Deed executed by Uwe Diestel and Aqua Society GmbH dated November 30, 2004 regarding the purchase and sale of an interest in UFI-TEC GmbH.(5)
10.4 2004 Stock Incentive Plan.(4)

13


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Exhibit
Number Description of Exhibit
10.5 Marke

[krofisch]

Antwort auf Beitrag Nr.: 27.863.060 von wohinistmeinGeld am 20.02.07 22:20:43

Hier in #4889 ist wieder einmal überdeutlich die \\'Wahrheits\\'-Liebe von wohinistmeinGeld (nicht?) sichbar oder?

Bei ihm liegt 2004 schon 8-10 Jahre zurück.

[westfale64]

Antwort auf Beitrag Nr.: 27.880.488 von krofisch am 21.02.07 17:26:22

Diese Texte findet jeder IN AQUAS EIGENEM QUARTALSBERICHT:





Hier die Belege aus Aquas neuem Quartalsbericht, die zeigen, dass Aqua noch nie ein eigenes Produkt verkauft gekriegt hat und dass die Initiatoren die Anlegermillionen mittels „management fees“ in die eigene Taqsche verschieben. Auch die Belege für die sich ankündigende Insolvenz mangels Massesind dort zu lesen.



„We currently have eight full-time employees.“Eine 8-Mann-Klitsche, die Millionen an die Gründer Hamm und Stamm verschiebt. Wofür ?


„As of September 30, 2006, the date of our most recently available financial statements, we had a working capital deficit of $2,059,410.“Der Laden ist mit 2 Mio. überschuldet.



„The revenues that we earned during the year ended September 30, 2006 were earned from services that we provided and equipment sales in connection with HVAC&R“Der Beleg, dass Aqua weder mit „Aquamission“ noch mit „Thermomission“ oder „Energymission“ auch nur einen einzigen Euro eingenommen hat.


„Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products,“Wer soll den unbrauchbaren Quatsch auch kaufen ?


„We incurred management fees of $716,231 during the year ended September 30, 2006. Of this amount, $147,529 were paid to Stamm & Lang Rechtsanwalte, a German law firm of which Achim Stamm, our former Chief Financial Officer, Secretary, Treasurer and a former director, is a partner, pursuant to a management consulting contract. An additional $173,140 was paid to Stamm & Lang in lieu of notice upon termination of our agreement with them in February, 2006. Also included in management fees are amounts charged under a management consulting contract with Hubert Hamm, a managing director of Aqua GmbH, and the lead consultant for research and development for Aqua GmbH’s HVAC&R department.“Millionen für Hamm und Stamm. Daher die Verluste.




„Included in current liabilities are a total of $1,441,507 payable to a law firm of which, Achim Stamm, one of our former officers and directors, is a partner.“Und noch ein Nachschlag für die Abzocker.



„As at September 30, 2006 we had cash in the amount of $187,432 and a working capital deficit of $2,059,410.“
Klar, dass die Bude überschuldet ist: Nichts verkauft, aber die Aqua-Gründer stecken sich die Anlegermillionen ein.


„we have not yet achieved profitability. We anticipate that we will continue to incur losses for the foreseeable future“Auch in derZukunft erwartet Aqua nur Verluste.


„We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability and we anticipate that we will continue to incur substantial losses in the foreseeable future.“
Aqua hat kein Geld um die nächsten 12 Monate zu überleben. Klar bei dieser Aktionärsabzocke.


Die abgezockten Aqua –Aktionäre sollten lieber die Quartalsberichte lesen, anstatt sich von den vielen Auftragsmärchen einlullen zu lassen. Dann wüssten sie, dass die Aqua-Gründer nur die folgenden Ziele verfolgen:
-Verkauf der 100 Mio. Altaktien dieser Abzockbude vor der Insolvenz
-Kassieren der happigen Vorstandsgehälter solange diese Bande das Märchen am Laufen halten kann
-Kassieren von unbegründbaren „management fees“ solange der Laden noch nicht insolvent ist.






Und dieser Millionenbesch… soll ohne Strafverfahren wegen Betruges enden ?

[krofisch]

Antwort auf Beitrag Nr.: 27.880.731 von westfale64 am 21.02.07 17:35:11

Nach den typischen sehr kreativen und merkwürdigen \'Übersetzungskünsten\' von \'Pinochio\' hier das Original:


http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

10QSB 1 form10qsb.htm QUARTERLY REPORT FOR THE PERIOD ENDED DECEMBER 31, 2006
--------------------------------------------------------------------------------

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-QSB

(Mark One)

[ X ] Quarterly Report Under Section 13 Or 15(d) Of The Securities Exchange Act Of 1934
For the quarterly period ended December 31, 2006

[ ] Transition Report Under Section 13 Or 15(d) Of The Securities Exchange Act
For the transition period from ________to ________

COMMISSION FILE NUMBER 000-50163

AQUA SOCIETY, INC.
(Exact name of small business issuer as specified in its charter)

NEVADA 52-2357931
(State or other jurisdiction of incorporation or (IRS Employer Identification No.)
organization)

Konrad - Adenauer Strasse 9-13
45699 Herten, Germany
(Address of principal executive offices)

011-49-6031-791-760
Issuer\'s telephone number

Not Applicable
Former name, former address and former fiscal year, if changed since last report

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 [ X ] No [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

State the number of shares outstanding of each of the issuer\'s classes of common equity, as of the latest practicable date: As of February 20, 2007 the Issuer had 118,178,323 Shares of Common Stock outstanding.

Transitional Small Business Disclosure Format (check one): Yes [ ] No [X]

1


--------------------------------------------------------------------------------

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

2


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.

INTERIM CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2006

(Stated in US Dollars)

(Unaudited)


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED BALANCE SHEETS
December 31, 2006 and September 30, 2006
(Stated in US Dollars)
(Unaudited)

December 31, September 30,
ASSETS 2006 2006

Current
Cash $ 108,837 $ 187,432
Accounts receivable – trade 76,838 143,039
– other – Note 4 59,367 -
Government value added tax receivable 97,631 217,919
Inventory 332,389 306,569
Loans receivable 1 1

675,063 854,960
Investments – Note 3 2 2
Patents and patent rights 193,485 193,485
Equipment 53,811 65,343

$ 922,361 $ 1,113,790

LIABILITIES

Current
Accounts payable and accrued liabilities – Note 4 $ 527,018 $ 537,271
Loans payable – Notes 4 and 5 3,165,735 2,377,099

3,692,753 2,914,370

STOCKHOLDERS’ DEFICIENCY

Common stock, $0.001 par value – Notes 6 and 8
300,000,000 shares authorized
118,178,323 shares issued and outstanding (September 30, 2006:
118,178,323 shares) 118,179 118,179
Additional paid-in capital 28,690,854 28,609,612
Accumulated other comprehensive loss (246,705 ) (150,368 )
Accumulated deficit (31,332,720 ) (30,378,003 )

(2,770,392 ) (1,800,580 )

$ 922,361 $ 1,113,790

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Sales $ 25,441 $ 782,242
Less: cost of goods sold 580 593,010

24,861 189,232

General and administrative expenses:
Accounting and audit fees 73,443 57,121
Advertising and promotion 19,329 58,187
Amortization 5,899 6,584
Bad debts 28,431 43,685
Bank charges and interest 117 85
Consulting fees 36,634 177,085
Development costs – Note 4 268,919 412,455
Filing fees 867 121
Interest 57,256 57,088
Legal fees – Note 4 130,228 36,264
Management fees – Note 4 57,988 124,857
Office and miscellaneous 23,270 66,274
Rent 26,154 28,917
Salaries and benefits 154,052 96,888
Stock-based compensation 57,242 -
Transfer agent 225 815
Travel – Note 4 39,524 80,478
Write down of patents - 8,994
Write down of inventory - 63,928

(979,578 ) (1,319,826 )

Operating loss before other item (954,717 ) (1,130,594 )

Other item:
Interest income - 5,292

Net loss for the period (954,717 ) (1,125,302 )

Other comprehensive loss
Foreign currency adjustment (96,337 ) (2,551 )

Comprehensive loss for the period $ (1,051,054 ) $ (1,127,853 )

Basic loss per share $ (0.01 ) $ (0.01 )

Weighted average number of shares outstanding 118,178,323 115,771,988

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Cash flows used in Operating Activities
Net loss for the period $ (954,717 ) $ (1,125,302 )
Items not affecting cash:
Amortization 5,899 6,584
Stock-based compensation 57,242
Write-down of patents - 8,994
Write-down of inventory - 63,928
Interest imputed on loans payable 24,000 -
Changes in non-cash working capital items:
Accounts receivable 10,882 (126,415 )
Government value added tax receivable 126,004 12,329
Inventory (13,251 ) 9,748
Accounts payable and accrued liabilities (23,954 ) 526,835

(767,895 ) (623,299 )

Cash flows used in Investing Activities
Equipment disposal 5,634 48,178
Repayment of loans receivable - (68,388 )

5,634 (20,210 )

Cash flows from Financing Activity
Increase in loans payable 677,508 174,408

Effect of exchange rates on cash 6,158 (7,730 )

Decrease in cash during the period (78,595 ) (476,831 )

Cash, beginning of the period 187,432 658,949

Cash, end of the period $ 108,837 $ 182,118

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Capital stock issued for cash 1 $ 31,042 $ - - $ - $ - $ - $ 31,042
Contribution of assets - - 25,056 - - - - 25,056
Pursuant to the acquisition of Aqua
Society GmbH 10,000,000 10,000 - 34,000,000 34,000 - - 44,000
Exchange of shares (1 ) (31,042 ) - - - - - (31,042 )
Outstanding shares of Company
prior to acquisition 69,908,000 69,908 - - - - (194,748 ) (124,840 )
Unrealized loss on translation - - - - - (997 ) - (997 )
Net loss for the period - - - - - - (67,448 ) (67,448 )

Balance, September 30, 2004 79,908,000 79,908 25,056 34,000,000 34,000 (997 ) (262,196 ) (124,229 )

Issued for cash:
Pursuant to private placement - at $2.40 416,666 417 999,583 - - - - 1,000,000
- at $1.98 1,232,322 1,233 2,438,766 - - - - 2,439,999
Pursuant to exercise of options - at $1.70 215,000 215 365,285 - - - - 365,500
Conversion of special warrants 34,000,000 34,000 - (34,000,000 ) (34,000 ) - - -
Stock-based compensation - - 22,480,000 - - - - 22,480,000
Unrealized gain on translation - - - - - 89,594 - 89,594
Net loss for the year - - - - - - (25,787,558 ) (25,787,558 )

Balance, September 30, 2005 115,771,988 115,773 26,308,690 - - 88,597 (26,049,754 ) 463,306

Pursuant to private placement - at $1.04 1,160,960 1,161 1,206,237 - - - - 1,207,398
- at $0.88 1,245,375 1,245 1,094,685 - - - - 1,095,930
Unrealized loss on translation - - - - - (238,965 ) - (238,965 )
Net loss for the period - - - - - - (4,328,249 ) (4,328,249 )

Balance, September 30, 2006 118,178,323 118,179 28,609,612 - - (150,368 ) (30,378,003 ) (1,800,580 )

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

Continued

AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Stock-based compensation - - 57,242 - - - - 57,242
Unrealized loss on translation - - - - (96,337 ) - (96,337 )
Contribution of interest – Note 5 - - 24,000 - - - - 24,000
Net loss for the period - - - - - - (954,717 ) (954,717 )

Balance, December 31, 2006 118,178,323 $ 118,179 $ 28,690,854 - $ $ (246,705 ) $ (31,332,720 ) $ (2,770,392 )

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2006
(Stated in US Dollars)
(Unaudited)

Note 1 Interim Reporting

While information presented in the accompanying interim consolidated financial statements is unaudited, it includes all adjustments, which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented. All adjustments are of a normal recurring nature. The accompanying interim consolidated financial statements do not include all information and footnote disclosures required for an annual set of financial statements prepared under generally accepted accounting principles in the United States of America. The accompanying interim consolidated financial statements should be read in conjunction with the Company’s September 30, 2006 audited consolidated financial statements. Operating results from the period ended December 31, 2006 are not necessarily indicative of the results that can be expected for the year ending September 30, 2007.


Note 2 Nature and Continuance of Operations

These interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for the next twelve months. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. At December 31, 2006, the Company had not yet achieved profitable operations, has accumulated losses of $31,332,720 since its inception, has a working capital deficiency of $3,017,690 and expects to incur further losses in the development of its business, all of which casts substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent upon its ability to generate Future profitable operations 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 considers that the Company will be able to obtain additional funds by equity financing and/or related party advances; however there is no assurance of additional funding being available.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 2
(Unaudited)

Note 3 Investments

i) UFI Tec GmbH

By an agreement dated November 30, 2004 and effective December 10, 2004, the Company acquired a 33% interest in UFI-Tech GmbH (“UFI”), a German limited company, for consideration of EUR 25,565 (US $32,476). During the year ended September 30, 2005, the Company wrote down the $32,476 investment and related loans receivable of $67,227 to their net realizable value of $1. During the year ended September 30, 2006, the Company sold 13.1% of their 33% interest (19.9% interest remains) for proceeds of EUR 10,072 (US $12,237) and wrote down an additional loan receivable of $66,094 to its net realizable value of $1.

ii) By an agreement dated February 18, 2006, the Company acquired a 51% interest in TMR GmbH (“TMR”), a German limited company, in consideration of EUR 12,750 (US $15,999). TMR is involved in the development, installation, distribution and management of renewable resources. At the date of acquisition, TMR had no business, assets or liabilities. During the year ended September 30, 2006, the Company wrote down its investment by $15,674 (EUR 12,749) to $1. During the three months ended December 31, 2006, the Company disposed of its interest in TMR for $1.

Note 4 Related Party Transactions – Note 7

The Company incurred the following amounts charged by directors of the Company, the brother of a director of the Company and a law firm of which a former director of the Company is a partner:

Three months ended
December 31,
2006 2005

Development costs $ 88,013 $ 191,595
Legal fees - 26,073
Management fees 57,988 124,857
Travel - 1,780

$ 146,001 $ 344,305

Accounts receivable – other includes $59,367 related to an advance to a former officer of the Company.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 3
(Unaudited)

Note 4 Related Party Transactions – Note 7 – (cont’d)

Included in accounts payable and accrued liabilities is $77,498 (September 30, 2006: $79,358) due to directors of the Company and a former director of the Company. These amounts are unsecured, non-interest bearing and have no specific terms for repayment.

Included in loans payable is $1,527,238 (September 30, 2006: $1,441,507) due to a law firm of which a former director of the Company is a partner.

Note 5 Loans Payable

Of the total loans outstanding at December 31, 2006, $950,886 (September 30, 2006: $883,822) bear interest at 7.5% per annum, are secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $773,403 (September 30, 2006: $743,675) are non-interest bearing, secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $1,319,261 (September 30, 2006: $634,276) are non-interest bearing, unsecured and due on demand, and $122,185 (September 30, 2006: $115,326) of loans payable bear interest of 7.5% per annum, are unsecured and are repayable on or before December 31, 2006. The loans due on or before December 31, 2006 were not repaid and are consequently in default. The company has imputed interest on the non-interest bearing loans at 10% per annum for a total of $24,000 during the three months ended December 31, 2006.

Note 6 Capital Stock – Note 8

Commitments:

Share Purchase Options

On December 21, 2006, the Company adopted a second stock incentive plan (the “2006 Stock Option Plan”) to provide incentives to employees, directors, officers and permitted consultants. The 2006 Stock Plan provides for the issuance of up to 7,000,000 options with a term to be determined by the plan administer or, if not so established, ten years. The maximum aggregate number of shares that may be optioned under the 2006 Stock Option Plan will be increased effective the first day of each of the Company’s fiscal quarters (“adjustment date”), beginning with the fiscal quarter commencing April 1, 2007 by an amount equal to the lesser of i) 15% of the outstanding shares on the first day of the applicable quarter less a) the number of shares of common stock that may be optioned and sold under the plan prior to the adjustment date and b) the number of shares of common stock that may be optioned and sold under any other stock option plan in effect as of the adjustment date or ii) such lesser number of shares of common stock as may be determined by the Board.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 4
(Unaudited)

Note 6 Capital Stock – Note 8 – (cont’d)

Commitments: – (cont’d)

Share Purchase Options – (cont’d)

A summary of the stock options outstanding as at December 31, 2006 and changes during the period is presented below:

Weighted
Average
Exercise
Shares Price

Options outstanding at September 30, 2006 7,535,000 $ 1.70
Granted 4,500,000 $ 0.40

Options outstanding at December 31, 2006 12,035,000 $ 1.21

Options exercisable at December 31, 2006 7,535,000

A summary of stock options outstanding at December 31, 2006, is as follows:

Exercise
Number Price Expiry Date

562,500 $0.40 April 1, 2009
562,500 $0.40 July 1, 2009
562,500 0.40 October 1, 2009
7,535,000 $1.70 October 15, 2009
562,500 $0.40 January 1, 2010
562,500 $0.40 April 1, 2010
562,500 $0.40 July 1, 2010
562,500 $0.40 October 1, 2010
562,500 $0.40 January 1, 2011

12,035,000

The Company used the Black-Scholes option pricing model to compute estimated fair value at each of the grant dates.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 5
(Unaudited)

Note 6 Capital Stock – Note 8– (cont’d)

Commitments – (cont’d)

Share Purchase Options – (cont’d)

The Black-Scholes option-pricing model requires the input of highly subjective assumptions including the expected price volatility. Changes in the subjective input assumptions can materially affect the fair value estimate and therefore the Black-Scholes model does not necessarily provide a reliable single measure of the fair value of the Company’s share purchase options.

The Company used the Black-Scholes option pricing model to compute the estimated fair value of the options granted during the three months ended December 31, 2006, based on the following assumptions:

Risk-free interest rate 4.84%
Dividend yield rate 0.00%
Price volatility 159.23%
Weighted average expected life of options 2.03 years
Weighted average fair value $0.36

The Company recognized stock-based compensation of $57,242 during the three months ended December 31, 2006.

Share Purchase Warrants

As at December 31, 2006, a total of 2,406,335 share purchase warrants exercisable into 2,406,335 common shares were outstanding as follows:

Exercise
Number Price Expiry Date

1,169,960 $1.30 February 9, 2008
1,245,375 $1.10 June 15, 2008

2,406,335


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 6
(Unaudited)

Note 7 Commitments

i) Lease Contracts

By four lease agreements dated September 30, 2004 and effective October 1, 2004, the Company entered into four lease contracts for the Company’s corporate head office. The leases require total payments of EUR 6,690 (US$8,826) per month. Two of the leases are effective until May 31, 2007 and the other two are effective until December 31, 2007. The leases will be automatically extended every year unless cancelled with six months advance notice.

Minimum future lease payments

September 30, 2007 $ 80,960
2008 12,144

$ 93,104

ii) Management/Consulting Contracts


a) By a management consulting contract dated September 30, 2004 and effective October 1, 2004, the Company’s subsididary (“GmbH”) agreed to pay EUR15,000 (US $19,789) per month to a managing director of GmbH for development, production and quality assurance services. The managing director of the GmbH is also a director of the Company. This contract is for an unlimited term but may be terminated by either party with six months advance notice.


b) By a consulting agreement dated October 1, 2004, the Company agreed to pay $2,000 per month to a consultant of the Company. The agreement is effective for a term of 5 years. The Company granted 500,000 common stock options upon signing of the agreement. The exercise price of the stock options is $1.70 per share and expires on October 15, 2009.


c) By a management consulting contract dated and effective October 1, 2004, the Company agreed to pay EUR 5,000 (US$6,274) per month for marketing and business development services. Effective October 1, 2005, the contract was amended to increase the payment to EUR 7,500 (US $9,411) per month. Effective October 1, 2006, the contract was amended to EUR 15,000 (US$19,028) per month for October, November and December, 2006. By an agreement dated November 1, 2006 and effective January 11, 2007, the Company agreed to the payment of EUR 2,000 (US $2,638) per month until December 31, 2007 and a 5% commission of gross sales to third parties which occurred as a result of the consultant’s work. The contract automatically renews for one year if not terminated at the end of a year by giving six months advance notice.



--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 7
(Unaudited)

Note 7 Commitments – (cont’d)

ii) Management/Consulting Contracts – (cont’d)

d) By a management consulting contract dated and effective January 1, 2005, the GmbH agreed to pay EUR 5,520 (US $7,002) per month for marketing, sales and distribution services. By an agreement dated November 10, 2006 and effective January 1, 2007, the contract was amended to decrease the payment to EUR 3,750 (US $4,947) per month with additional payments of EUR 10,000 (US $12,686) and EUR 5,000 (US$6,343) in November and December 2006 respectively. The contract ends on December 31, 2007 and may be terminated by either party with three months advance notice.

e) By a management consulting agreement dated August 1, 2005, the GmbH agreed to pay EUR 3,900 (US $5,145) per month for administration services for the research and development department. The contract is for an unlimited term and may be terminated by either party by giving six months advance notice.

f) By a management consulting contract dated December 12, 2005 and effective January 1, 2006, the GmbH agreed to pay EUR 20,000 (US $25,371) per month to March 31, 2006 and EUR 25,000 (US $31,714) per month to December 31, 2006 for technical services. Effective September 18, 2006, the contract was amended and the payment was decreased to EUR 10,000 (US$ 12,686) per month and extended to June 30, 2007. The management consulting contract is with a company owned by a director of the Company.

g) By a management consulting contract dated November 10, 2004, the Company agreed to pay EUR 500 (US $660) per press release to a former director of the Company. This contract is for an unlimited term but may be terminated by either party with one month advance notice.

h) By management consulting agreements dated December 28, 2006, the Company agreed to pay directors of the Company a total of EUR 56,000 (US $73,879) for the period October 1, 2006 to December 31, 2006 and EUR 14,000 (US $18,470) per month for the period January 1, 2007 to September 30, 2007. The contract is for an unlimited term but may be terminated by either party with three months advance notice.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 8
(Unaudited)

Note 8 Subsequent Event

Subsequent to December 31, 2007, the Company approved a private placement offering of 7,500,000 units at $0.30 per unit with each unit consisting of one share of the Company’s common stock and one-half share purchase warrant for total proceeds of $2,250,000. Each share purchase warrant entitles the holder to purchase one additional share of the Company’s common stock at $0.35 per share for a period of one year from the date of issuance of the units.


--------------------------------------------------------------------------------

ITEM 2. MANAGEMENT\'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this Quarterly Report constitute "forward-looking statements". These statements, identified by words such as “plan”, "anticipate," "believe," "estimate," "should," "expect" and similar expressions include our expectations and objectives regarding our future financial position, operating results and business strategy. These statements reflect the current views of management with respect to future events and are subject to risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from those described in the forward-looking statements. Such risks and uncertainties include those set forth under the caption "Management\'s Discussion and Analysis or Plan of Operation" and elsewhere in this Quarterly Report. We do not intend to update the forward-looking information to reflect actual results or changes in the factors affecting such forward-looking information. We advise you to carefully review the reports and documents we file from time to time with the United States Securities and Exchange Commission (the “SEC”), particularly our Annual Reports on Form 10-KSB and our Current Reports on Form 8-K.

As used in this Quarterly Report, the terms "we", "us", "our", “the Company” and “Aqua Society” mean Aqua Society, Inc. unless otherwise indicated. All dollar amounts in this Quarterly Report are in U.S. dollars unless otherwise stated.

INTRODUCTION

The following discussion and analysis summarizes our plan of operation for the next twelve months, our results of operations for the three month period ended December 31, 2006 and changes in our financial condition from September 30, 2006. This discussion should be read in conjunction with the Management’s Discussion and Analysis or Plan of Operation included in our Annual Report on Form 10-KSB for the year ended September 30, 2006.

We were incorporated under the laws of the State of Nevada on March 2, 2000, under the name “V G Tech, Inc.”

On September 22, 2004, we completed the acquisition of Aqua Society GmbH (“Aqua GmbH”). Prior to our acquisition of Aqua GmbH, we were in the business of providing services in the areas of digital graphics and special effects. Upon completing the acquisition of Aqua GmbH, we abandoned this digital imaging business. We are now in the business of designing and developing applied technologies, and providing consulting services, in the areas of heating, ventilation, air conditioning, refrigeration, water purification, waste water treatment, and, our latest business segment, energy (collectively, the “Aqua Business”).

Effective December 27, 2004, we changed our name to “Aqua Society, Inc.” to better reflect the nature of our current business operations

Recent Corporate Developments

The following significant corporate developments have occurred since our fiscal year ended September 30, 2006:

1. After the completion of our 2006 fiscal year, we completed the construction of a demonstration prototype of our EnergyMission / Yellow Box technology. A media event to showcase this demonstration model was held at our facilities on December 21, 2006. This demonstration unit will be used by us for marketing and demonstration purposes as well as for research and development.


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2. On December 21, 2006, our Board of Directors approved and adopted our 2006 Stock Option Plan (the “2006 Option Plan”). Under the 2006 Option Plan, options may be granted for a maximum of 7,000,000 shares of our common stock. The maximum number of shares that may be optioned under the 2006 Option Plan will increase each fiscal quarter, beginning with the fiscal quarter commencing April 1, 2007, by an amount equal to 15% of the total increase in the number of shares of common stock outstanding or such lesser amount as may be determined by our Board of Directors.


A summary of our 2006 Option Plan is set forth in our Current Report on Form 8-K filed with the SEC on December 29, 2006. The full text of the 2006 Option Plan is attached as Exhibit 10.1 to our Current Report on Form 8-K filed with the SEC on December 29, 2006, and is incorporated by reference herein.


3. Also on December 21, 2006, our Board of Directors approved the grant of options under the 2006 Option Plan for 2,500,000 shares of our common stock at an exercise price of $0.40 per share to Mr. Terberg and options to purchase an aggregate of 2,000,000 shares of our commons stock to Mr. van der Zee, also at a price of $0.40. The options granted to each of Mr. Terberg and Mr. van der Zee vest in equal quarterly instalments, commencing on April 1, 2007 and expiring 2 years after the applicable vesting date.


Changes to the Board of Directors and Executive Officers

In addition to the above corporate developments, there have been a number of changes to our Board of Directors and executive officers since the end of our 2006 fiscal year.

Effective October 31, 2006, Robert Terberg replaced Petrus Lodestijn as our Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary and also as a member of our Board of Directors. Also effective on October 31, 2006, our Board of Directors was expanded by the appointment of Hubert Hamm as a director of the Company and by the appointment of Hugo van der Zee as the Chairman of the Company’s Board of Directors.

PLAN OF OPERATION

During the next twelve months, we will focus: (1) on the design and construction of products ordered from us; (2) on further developing the market for our products; and (3) on continuing to develop and improve our products. Specifically, our plan of operation for the next twelve months involves the following:

1. Design and Construction of Ordered Units: During the next twelve months, we will work on the design and construction of the waste heat power generation, AquaMission and ThermoMobil units for which we have received orders.


2. Market Development Activities: Over the next twelve months we intend to do the following in an effort to continue developing a market for our products and services:


(a) We have completed the construction of a prototype EnergyMission / Yellow Box unit that we will use for marketing and demonstration purposes, as well as for ongoing research and development. The prototype unit will be used by us to demonstrate the effectiveness of our technology to trade media and industry representatives on an ongoing basis.


(b) We are also in the process of setting up a wholly owned subsidiary in the Netherlands (the “Dutch Subsidiary”), through which we will seek to promote all of our products in the “Benelux” countries (Belgium, the Netherlands and Luxemberg). In addition, we intend to use the Dutch Subsidiary to establish an additional production facility to be located in


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the Netherlands. This production facility is expected to enable us to significantly expand our production capabilities from the limited facilities located in Herten, Germany. The Dutch Subsidiary is expected to be based in Zevenaar, near Arnhem, in the east of the Netherlands.


(c) We will continue to attempt to market the AquaMission combined air-conditioning and drinking water product in geographic locations with high ambient temperatures and relative humidity but without readily available sources of fresh water, such as the Persian Gulf and the Middle East. Three demonstration models of the AquaMission are currently on location in the Middle East. We are currently in the process of seeking new sales agents for our products in the Middle East.


We will continue to try and generate sales in the Middle East using these demonstration models.


In addition to these activities, we may also seek to increase brand awareness through various advertising activities and sponsorships.

3. Product Development Activities: During the next twelve months, we will also continue to work on further developing and improving our existing products in an effort to increase their marketability. As part of these efforts, we have developed and built a demonstration model of our Yellow Box technology.


We are also in the process of constructing a high-tech “climate room” that will allow us to simulate the world’s various humidity and temperature zones. This “climate room” will assist us in optimizing our AquaMission unit for different geographic locations.


We anticipate spending approximately $2,000,000 in pursuing our plan of operation over the next twelve months. As of December 31, 2006, the date of our most recently available financial statements, we had a working capital deficit of $3,017,690. As such, we do not have sufficient working capital to meet our expected needs over the next twelve months. Although we have recently begun to earn revenues, we have not yet earned a net profit and we do not expect to achieve profitability in the near future as we expect to continue to incur substantial product development, marketing and operating expenses. We are likely to continue to need substantial additional financing in order to implement our plan of operation. Our management expects that any additional financing that we obtain will likely be in the form of equity financing.

Our actual expenditures and business plan may differ from the one stated above. Our Board of Directors may decide not to pursue this plan. In addition, we may modify the plan based on available financing.

RESULTS OF OPERATIONS

First Quarter Summary

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Revenue $25,441 $782,242 (96.7)%
Cost of Goods Sold (580) (593,010) (99.9)%
General and Administrative Expenses (979,578) (1,319,826) (25.8)%
Other Items Nil (5,292) (100.0)%
Net Loss $(954,717) $(1,125,302) (15.2)%

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Revenues

During our last fiscal year, we earned revenues from HVAC&R and energy optimization consulting services, and from equipment sales made in connection with the provision of those services. However, we do not have a long-term history of earning revenues and, as a result, we are unable to accurately forecast future revenues. Readers are cautioned that our past operating results may not be indicative of future performance.

During the fiscal year ended December 31, 2006, our revenue decreased by 96.7% as compared to the same period ended in 2005. Since their appointment in October, 2006, our new executive officers and directors have been conducting a company wide review of our operations. During this period, we scaled back our HVAC&R and energy optimizing consulting activities. As a result, our revenues decreased substantially.

During the next twelve months, we intend to concentrate our resources on developing the market for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, as we believe that these products will provide us with the greatest opportunity for future profitability. As a result, we may continue to scale back the HVAC&R and energy optimization consulting services that we have provided in the past.

Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products, and there are no assurances that we will be able earn such revenues in the future.

Operating Costs and Expenses

Our operating expenses for the quarterly period ended December 31, 2006 consisted of the following:

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Accounting and audit fees $73,443 $57,121 28.6%
Advertising and promotion 19,329 58,187 (66.8)%
Amortization 5,899 6,584 (10.4)%
Bad debts 28,431 43,685 (34.9)%
Bank charges and interest 117 85 37.6%
Consulting fees 36,634 177,085 (79.3)%
Development costs 268,919 412,455 (34.8)%
Filing fees 867 121 616.5%
Interest 57,256 57,088 0.3%
Legal fees 130,228 36,264 259.1%
Management fees 57,988 124,857 (53.6)%
Office and miscellaneous 23,270 66,274 (64.9)%
Rent 26,154 28,917 (9.6)%
Salaries and benefits 154,052 96,888 (59.0)%
Stock-based compensation 57,242 Nil 100.0%
Transfer agent 225 815 (72.4)%

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Travel 39,524 80,478 (50.9)%
Write down of patents Nil 8,994 (100.0)%
Write down of inventory Nil 63,928 (100.0)%
Total General and Administrative Expenses $979,578 $1,319,826 (25.8)%

Our general and administrative expenses decreased by $340,248, or 25.8%, during the three month period ended December 31, 2006 as compared to 2005. This decrease in our general and administrative expenses was primarily generated as a result of the efforts of our current management to streamline our operations. During the next few months, we expect that our general and administrative expenses will continue to fluctuate somewhat as we continue to review and overhaul our current operations.

Management fees decreased by $66,869, or 53.6%, during the quarter ended December 31, 2006, primarily because of the termination of a management services contract under which we had been obligated to pay management fees of EUR 20,000 per month to a law firm of which a former officer and director is a partner. Also, during the last fiscal quarter, we scaled back some of our product development activities as our management conducted a company wide assessment of our operations. As a result, development costs, and consulting fees associated with our development activities, also decreased significantly during our last fiscal quarter. Office and travel expenses also decreased primarily as a result of our efforts to streamline our operations. Also contributing to the overall decrease in our general and administrative expenses from the quarter ended December 31, 2005 was the fact that, during our December 31, 2005 fiscal quarter, we recognized one-time patent and inventory write down charges totaling $72,922. No patent or inventory write down charges were recognized for the period ended December 31, 2006.

Offsetting the above decreases were significant increases in accounting and audit fees, legal fees and salaries and benefits. The increase in legal fees relates primarily to amounts incurred in connection with the negotiation of our patent licensing agreement with Ecoenergy Patent GmbH and in connection with the restructuring of our operations by our new management. The events giving rise to the additional amounts spent on legal fees are not expected to be ongoing. Accounting and auditing fees increased as a result of an increase in the amounts charged by our consulting accountants and by our independent auditors. The increase in salaries and benefits was a result of the hiring of two additional non-management employees.

Also, during the period ended December 31, 2007, we recorded stock-based compensation expenses of $57,242 on account of stock options granted to certain of our officers and directors during the period. No options or other stock-based compensation were granted during the period ended December 31, 2005.

LIQUIDITY AND CAPITAL RESOURCES

Working Capital

At At Percentage
December 31, 2006 September 30, 2006 Increase / (Decrease)
Current Assets $675,063 $854,960 (21.0)%
Current Liabilities (3,692,753) (2,914,370) 26.7%
Working Capital Surplus (Deficit) $(3,017,690) $(2,059,410) 46.5%

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Included in current liabilities are a total of $1,527,238 payable to a law firm of which one of our former officers and directors, is a partner. We are currently in negotiations with the former officer and director for the settlement of the amounts owed to him and his law firm.

Cash Flows

Three Months Ended December 31
2006 2005
Cash Flows used in Operating Activities $(767,895) $(623,299)
Cash Flows used in Investing Activities 5,634 (20,210)
Cash Flows from Financing Activities 677,508 174,408
Effects of Foreign Exchange Rates 6,158 (7,730)
Net Decrease in Cash During Period $(78,595) $(476,831)

During the period ended December 31, 2006, we obtained financing in the form of a EUR 500,000 loan. This loan is unsecured, non-interest bearing and payable upon demand.

Total loans payable at December 31, 2006 consist of the following amounts:

(a) $950,886, bearing interest at a rate of 7.5% per annum, secured by accounts receivable and repayable on or before December 31, 2006;


(b) $773,403, non-interest bearing, secured by accounts receivable and repayable on or before December 31, 2006;


(c) $122,185, bearing interest a rate of 7.5% per annum, unsecured and payable on or before December 31, 2006; and


(d) $1,319,261, non-interest bearing, unsecured and due on demand.


The amounts payable on or before December 31, 2006 have not yet been repaid and are past due. We are currently in negotiations with our creditors for the settlement and repayment of amounts owed to them.

As at December 31, 2006 we had cash in the amount of $108,837 and a working capital deficit of $3,017,690. We anticipate spending approximately $2,000,000 over the next 12 months in pursuing our plan of operation. We will require substantial additional financing in the next few months in order to pursue our current plan of operation.

Although we earned revenues during our fiscal year ended September 30, 2006, we did not earn significant revenues during the fiscal quarter ended December 31, 2006 and we have not yet achieved profitability. Our future financial results are uncertain due to a number of factors, many of which are outside of our control. These factors include, but are not limited to:

(a) our ability to commercially market our ThermoMobil and AquaMission products;


(b) our ability to develop a commercially marketable EnergyMission/Yellow Box product;


(c) our ability to raise additional capital necessary to implement our business strategy and plan of operation;


(d) our ability to compete with other existing technologies; and


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(e) the success of any marketing and promotional campaign which we conduct for our products once development is complete.


Due to the uncertainty regarding our future revenues and profitability, we expect that the majority of additional financing that we obtain, if any, will likely be in the form of equity financing. Our management does not expect sufficient debt financing to be available to us through traditional sources at this stage of our business.

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 are material to our stockholders.

CRITICAL ACCOUNTING POLICIES

The preparation of financial statements in conformity with generally accepted accounting principles requires our management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Our management routinely makes judgments and estimates about the effects of matters that are inherently uncertain.

We have identified certain accounting policies, described below, that are most important to the portrayal of our current financial condition and results of operations. Our significant accounting policies are disclosed in Note 3 to the interim financial statements included in this Quarterly Report.

Principles of Consolidation

The consolidated financial statements include the accounts of Aqua Society, Inc and our wholly owned subsidiary, Aqua Society GmbH, a German limited liability company (“Aqua GmbH”). All inter-company transactions have been eliminated.

Foreign Currency Translation

Our functional currency is United States dollars. Our subsidiary, Aqua GmbH, uses the Euro as its functional currency. Accordingly, assets and liabilities of Aqua GmbH are translated into US dollars at the exchange rate in effect at the balance sheet date and capital accounts are translated at historical rates. Income statement accounts are translated at the average rates of exchange prevailing during the period. Translation adjustments arising from the use of differing exchange rates from period to period are included in the Accumulated Other Comprehensive Gain/(Loss) account in Stockholders’ Equity.

Transactions undertaken in currencies other than the functional currency of the entity are translated using the exchange rate in effect as of the transaction date. Any exchange gains and losses would be included in the Statement of Operations.

Patents, Patent Rights and Amortization

Patents and patent rights are recorded at cost. We provide for the amortization of patents and patent rights on the straight-line basis over their estimated economic lives, estimated to be 5 years. Amortization is recorded upon the patents being awarded.

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RISKS AND UNCERTAINTIES

Need For Financing

We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability. We are likely to continue to need substantial additional financing in order to implement our long term business plan. There is no assurance that we will be able to acquire sufficient financing on terms acceptable to us or at all. If financing is not available or obtainable, our ability to meet our financial obligations and pursue our plan of operation will be substantially limited and investors may lose a substantial portion or all of their investment

Limited Operating History, Risks Of A New Business Venture

We are still in the process of developing our business and have only recently begun to earn revenues. Readers are cautioned that our past results may not be indicative of future performance.

Potential investors should be aware of the difficulties normally encountered by a new enterprise and the high rate of failure of such enterprises. The potential for future success must be considered in light of the problems, expenses, difficulties complications and delays encountered in connection with the development of a business in the area in which we intend to operate and in connection with the formation and commencement of operations of a new business in general. These include, but are not limited to, unanticipated problems relating to research and development programs, marketing, approvals by government agencies, competition and additional costs and expenses that may exceed current estimates. There is no history upon which to base any assumption as to the likelihood that we will prove successful, and there can be no assurance that we will ever achieve profitable operations.

If We Are Unable To Achieve Market Acceptance For Our Products, We Will Be Unable To Build Our Business

To date, we have completed technical development of our EnergyMission/Yellow Box, ThermoMobil and AquaMission products. However, we have only received a limited number of confirmed orders for these products. Our future success will depend upon the acceptance of our existing products, and other products that we develop, by the respective industries in which we intend to market those products. Achieving such acceptance will require significant investments in research and development and market development. The technologies upon which our products and services are based are relatively new and are evolving. Accordingly, in order to achieve commercial acceptance, we will have to educate prospective clients about the uses and benefits of our products.

Even If We Are Able To Develop A Commercial Market For Our Products, We May Not Have The Ability To Meet The Demand For Those Products

We intend to complete the construction of the initial AquaMission, ThermoMobil and EnergyMission/Yellow Box units ordered from us at our facilities located in Herten, Germany. However, the size of these facilities is limited.

We are currently in the process of establishing a wholly owned subsidiary in the Netherlands, with which we intend to establish a larger scale production facility. Further, we intend to seek supply contracts and/or joint venture/licensing agreements with independent manufacturing companies to manufacture our products on a large scale basis, however we have not yet entered into any such contracts or agreements.

Our Operations May Be Subject to Extensive Government Regulation

Our operations may be subject to extensive government regulations in the United States, Europe and elsewhere. In order to sell our products, we may have to satisfy numerous mandatory procedures,

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regulations, and safety standards established by international, federal and state regulatory agencies. Although we currently comply with stringent German regulations, there can be no assurance that we can successfully comply with all present and future government regulations worldwide.

Risks of International Business Operations

Although we are incorporated in the United States, the majority of our operating activities are conducted in Germany. Additionally, in the past, we have targeted markets for our products in the Persian Gulf and other developing parts of the world, such as Africa. As such, a significant portion of our business depends upon our ability to establish and maintain successful relationships with businesses and governments located outside of the United States. If we are unable to establish and maintain such relationships, we may not be able to implement our business plan or plan of operations.

In order to better manage the risks associated with our international operations, our management has decided to focus their business development efforts on markets near to our base of operations, such as Germany, the Netherlands and the rest of Europe.

Rapid Technological Changes In Our Industry Could Make Our Products Obsolete

The industry in which we intend to compete is characterized by rapid technological change and intense competition. New technologies, products and industry standards will develop at a rapid pace which could make our planned products obsolete. Our future success will depend upon our ability to develop and introduce product enhancements to address the needs of our customers.

Asserting And Defending Intellectual Property Rights May Impact Results Of Operations

The success of our business may depend on our ability to successfully defend our intellectual property rights. Future litigation may have a material impact on our financial condition even if we are successful in developing and marketing products. We may not be successful in defending or asserting our intellectual property rights.

An adverse outcome in any litigation or interference proceeding could subject us to significant liabilities to third parties and require us to cease using the technology that is at issue or to license the technology from third parties. In addition, a finding that any of our intellectual property rights are invalid could allow our competitors to more easily and cost-effectively compete. Thus, an unfavorable outcome in any patent litigation or interference proceeding could have a material adverse effect on our business, financial condition or results of operations.

The cost to us of any patent litigation or interference proceeding could be substantial. Uncertainties resulting from the initiation and continuation of patent litigation or interference proceedings could have a material adverse effect on our ability to compete in the marketplace. Patent litigation and interference proceedings could also absorb significant management time.

We May Be Subject To Product Liability Lawsuits

We may be subject to product liability claims. Such claims may absorb significant management time and could degrade our reputation and the marketability of our products. If product liability claims are made with respect to our products, we may need to recall the implicated product which could have a material adverse effect on our business, financial condition and results of operations. In addition, although we may maintain product liability insurance, we cannot be sure that such insurance will be adequate to cover potential product liability lawsuits. Insurance is expensive and in the future may not be available on acceptable terms, if at all. If a successful product liability claim or series of claims exceeds insurance coverage, it could have a material adverse effect on our business, financial condition and results of operations.

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If We Are Late In Filing Any Of Our Annual Or Quarterly Reports During The Next Two Years, Our Common Stock May Become Ineligible For Quotation On The OTC Bulletin Board, Which Would Negatively Affect The Market For Our Shares And Our Ability To Obtain Additional Financing.

On November 16, 2005, the SEC approved certain changes to NASD Rule 6530. As amended, NASD Rule 6530 provides that OTC Bulletin Board (“OTCBB”) issuers who are late in filing their annual or quarterly reports three times within a 24-month period will be ineligible for quotation on the OTCBB. In order to regain eligibility under this rule, the issuer would need to timely file all of its annual and quarterly reports due in a one year period. The amended NASD Rule 6530 does not apply to annual or quarterly reports for periods ended before October 1, 2005.

From time to time, we have been late in filing our quarterly and annual reports. If we are late in filing our annual or quarterly reports three times within a 24-month period, we may become ineligible for quotation on the OTCBB, which would negatively affect the market for our common stock. In addition, if our common stock is no longer eligible for quotation on the OTCBB, it may become more difficult for us to obtain additional equity financing as shares of our common stock will be less attractive to potential investors.

ITEM 3. CONTROLS AND PROCEDURES.

Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as of the end of the period covered by this report. Based on that evaluation, our principal executive officer and principal financial officer has concluded that our disclosure controls and procedures were not effective as we failed to timely file our periodic reports with the SEC on a number of occasions during the past fiscal year.

Our new management is in the process of taking measures to improve our disclosure controls and procedures in an effort to ensure that the information required to be disclosed is internally communicated and publicly reported within the time periods specified in the SEC’s rules and forms. In particular, we intend to engage outside consultants to assist us in the preparation of our accounting records and financial statements and will attempt to increase internal accountability and to clearly define internal communication channels in an effort to remedy the deficiencies identified by our principal executive officer and principal financial officer.

By working with our external consultants and our principal independent accountants, our management believes that the financial statements and the other information presented in this Quarterly Report are materially correct.

There were no changes in our internal control over financial reporting during the last fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

None.

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

All unregistered sales of our equity securities completed during our fiscal quarter ended December 31, 2006 have been previously reported in the Quarterly Reports on Form 10-QSB and Current Reports on Form 8-K that we filed during that period.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

None.

ITEM 5. OTHER INFORMATION.

Compensatory Arrangements Of Certain Officers

Effective December 28, 2006, we entered into management consulting services agreements with each of Robert Terberg, our current Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary, and currently a member of our Board of Directors, and Hugo van der Zee, currently the Chairman of our Board of Directors. The terms of our agreements with Mr. Terberg and Mr. van der Zee are disclosed in our Annual Report filed with the SEC on January 16, 2007.

ITEM 6. EXHIBITS.

Exhibit
Number Description of Exhibit
3.1 Restated Articles of Incorporation filed with the Nevada Secretary of State effective December 27, 2004.(5)
3.2 Bylaws, effective March 2, 2000.(1)
10.1 Share Purchase Agreement between Water-Capital-Holding Ltd., V G Tech, Inc., Aqua Society GmbH and Steve Livingston, dated for reference September 3, 2004.(2)
10.2 Agreement and Deed of Transfer between Water-Capital-Holding Ltd. and V G Tech, Inc. dated for reference September 22, 2004.(3)
10.3 Certified Translation of a Notarial Deed executed by Uwe Diestel and Aqua Society GmbH dated November 30, 2004 regarding the purchase and sale of an interest in UFI-TEC GmbH.(5)
10.4 2004 Stock Incentive Plan.(4)

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Exhibit
Number Description of Exhibit

[westfale64]

Antwort auf Beitrag Nr.: 27.881.708 von krofisch am 21.02.07 18:13:44

Hier die Belege aus Aquas neuem Quartalsbericht (wörtlich übersetzt), die zeigen, dass Aqua noch nie ein eigenes Produkt verkauft gekriegt hat und dass die Initiatoren die Anlegermillionen mittels „management fees“ in die eigene Tasche verschieben. Auch die Belege für die sich ankündigende Insolvenz mangels Massesind dort zu lesen.



„We currently have eight full-time employees.“
Wörtlich übersetzt: Wir haben derzeit 8 Vollzeitangestellte.

Eine 8-Mann-Klitsche, die Millionen an die Gründer Hamm und Stamm verschiebt. Wofür ?




„As of September 30, 2006, the date of our most recently available financial statements, we had a working capital deficit of $2,059,410.“
Wörtlich übersetzt: Am 30.Sep.2006….hatten wir ein Arbeitskapitaldefizit von $2.059.410.

Der Laden ist also mit 2 Mio. überschuldet.





„The revenues that we earned during the year ended September 30, 2006 were earned from services that we provided and equipment sales in connection with HVAC&R“
Wörtlich übersetzt: Die Einnahmen, die wir bis zum30.Sep. 2006 hatten entstanden durch Service und Equipmentverkäufe in Verbindung mit HVAC&R.

Zur Erinnerung: Die Aktionäre bezahlen Herrn Hamm zweimal: Einmal mit den 20000 monatlichen Vorstandsbezügen und dann noch als Auftragnehmer (HVAC&R)
Der Beleg, dass Aqua weder mit „Aquamission“ noch mit „Thermomission“ oder „Energymission“ auch nur einen einzigen Euro eingenommen hat.





„Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products,“
Wörtlich übersetzt: Auch wenn wir Orders für Thermomobil,Aquamission und Energymission erhalten haben, haben wir noch keine Einnahmen durch den Verkauf eines dieser Produkte erhalten.

Wer soll den unbrauchbaren Quatsch auch kaufen ?




„We incurred management fees of $716,231 during the year ended September 30, 2006. Of this amount, $147,529 were paid to Stamm & Lang Rechtsanwalte, a German law firm of which Achim Stamm, our former Chief Financial Officer, Secretary, Treasurer and a former director, is a partner, pursuant to a management consulting contract. An additional $173,140 was paid to Stamm & Lang in lieu of notice upon termination of our agreement with them in February, 2006. Also included in management fees are amounts charged under a management consulting contract with Hubert Hamm, a managing director of Aqua GmbH, and the lead consultant for research and development for Aqua GmbH’s HVAC&R department.“
Wörtlich übersetzt: $716.231 wurden bis zum 30. Sep.2006 bezahlt. $147.529 davon wurden an Stamm und Lang Rechtsanwälte bezahlt, eine Kanzlei bei der Stamm, unser früherer CFO….. und früherer Direktor, Partner ist. Zusätzliche $173.140 wurden an Stamm und Lang…. im Feb.2006 bezahlt.Auch in den „management fees“ enthalten sind Zahlungen an Hubert Hamm….

Millionen für Hamm und Stamm. Daher die Verluste.




„Included in current liabilities are a total of $1,441,507 payable to a law firm of which, Achim Stamm, one of our former officers and directors, is a partner.“
Wörtlich übersetzt: Eingeschlossen sind Schulden/Verbindlichkeiten bei Stamm……in Höhe von $1.441.507.

Und noch ein Nachschlag für die Abzocker.




„As at September 30, 2006 we had cash in the amount of $187,432 and a working capital deficit of $2,059,410.“
Wörtlich übersetzt:Am 30.Sep.2006 hatten wir $187.432 cash auf dem Konto und ein Arbeitskapitaldefizit in Höhe von $2.059.410.

Klar, dass die Bude überschuldet ist: Nichts verkauft, aber die Aqua-Gründer stecken sich die Anlegermillionen ein.




„we have not yet achieved profitability. We anticipate that we will continue to incur losses for the foreseeable future“
Wörtlich übersetzt: Wir haben noch keinen Gewinn erzielt. Wir vermuten, dass wir auch in absehbarer Zukunft nur Verluste einfahren werden.



„We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability and we anticipate that we will continue to incur substantial losses in the foreseeable future.“
Wörtlich übersetzt: Wir haben keine ausreichenden finanziellen Resourcen um die erwarteten Kosten unseres Operationsplans und unsere Schulden/Verbindlichkeiten für die nächsten 12 Monate zu bezahlen.Wir haben noch keine Gewinne gemacht und vermuten, dass wir in absehbarer Zukunft auch weiterhin Verluste machen werden.

Aqua hat kein Geld um die nächsten 12 Monate zu überleben. Klar bei dieser Aktionärsabzocke.






Die abgezockten Aqua –Aktionäre sollten lieber die Quartalsberichte lesen, anstatt sich von den vielen Auftragsmärchen einlullen zu lassen. Dann wüssten sie, dass die Aqua-Gründer nur die folgenden Ziele verfolgen:
-Verkauf der 100 Mio. Altaktien dieser Abzockbude vor der Insolvenz
-Kassieren der happigen Vorstandsgehälter solange diese Bande das Märchen am Laufen halten kann
-Kassieren von unbegründbaren „management fees“ solange der Laden noch nicht insolvent ist.






Und dieser Millionenbesch… soll ohne Strafverfahren wegen Betruges enden ?

[wohinistmeinGeld]

krofischchen ist ja wieder sehr stolz auf seinen Nachweis für Mißerfolg, einmal am Tag reicht da natürlich nicht um es rein zu stellen. Er ist und bleibt eben der Kopierkönig.

[krofisch]

Antwort auf Beitrag Nr.: 27.882.809 von westfale64 am 21.02.07 19:01:03

Nach den typischen sehr kreativen und merkwürdigen \\'Übersetzungskünsten\\' von \\'Pinochio\\' hier das Original:

http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

10QSB 1 form10qsb.htm QUARTERLY REPORT FOR THE PERIOD ENDED DECEMBER 31, 2006
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-QSB

(Mark One)

[ X ] Quarterly Report Under Section 13 Or 15(d) Of The Securities Exchange Act Of 1934
For the quarterly period ended December 31, 2006

[ ] Transition Report Under Section 13 Or 15(d) Of The Securities Exchange Act
For the transition period from ________to ________

COMMISSION FILE NUMBER 000-50163

AQUA SOCIETY, INC.
(Exact name of small business issuer as specified in its charter)

NEVADA 52-2357931
(State or other jurisdiction of incorporation or (IRS Employer Identification No.)
organization)

Konrad - Adenauer Strasse 9-13
45699 Herten, Germany
(Address of principal executive offices)

011-49-6031-791-760
Issuer\\'s telephone number

Not Applicable
Former name, former address and former fiscal year, if changed since last report

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 [ X ] No [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

State the number of shares outstanding of each of the issuer\\'s classes of common equity, as of the latest practicable date: As of February 20, 2007 the Issuer had 118,178,323 Shares of Common Stock outstanding.

Transitional Small Business Disclosure Format (check one): Yes [ ] No [X]

1


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PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

2


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AQUA SOCIETY, INC.

INTERIM CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2006

(Stated in US Dollars)

(Unaudited)


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AQUA SOCIETY, INC.
INTERIM CONSOLIDATED BALANCE SHEETS
December 31, 2006 and September 30, 2006
(Stated in US Dollars)
(Unaudited)

December 31, September 30,
ASSETS 2006 2006

Current
Cash $ 108,837 $ 187,432
Accounts receivable – trade 76,838 143,039
– other – Note 4 59,367 -
Government value added tax receivable 97,631 217,919
Inventory 332,389 306,569
Loans receivable 1 1

675,063 854,960
Investments – Note 3 2 2
Patents and patent rights 193,485 193,485
Equipment 53,811 65,343

$ 922,361 $ 1,113,790

LIABILITIES

Current
Accounts payable and accrued liabilities – Note 4 $ 527,018 $ 537,271
Loans payable – Notes 4 and 5 3,165,735 2,377,099

3,692,753 2,914,370

STOCKHOLDERS’ DEFICIENCY

Common stock, $0.001 par value – Notes 6 and 8
300,000,000 shares authorized
118,178,323 shares issued and outstanding (September 30, 2006:
118,178,323 shares) 118,179 118,179
Additional paid-in capital 28,690,854 28,609,612
Accumulated other comprehensive loss (246,705 ) (150,368 )
Accumulated deficit (31,332,720 ) (30,378,003 )

(2,770,392 ) (1,800,580 )

$ 922,361 $ 1,113,790

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Sales $ 25,441 $ 782,242
Less: cost of goods sold 580 593,010

24,861 189,232

General and administrative expenses:
Accounting and audit fees 73,443 57,121
Advertising and promotion 19,329 58,187
Amortization 5,899 6,584
Bad debts 28,431 43,685
Bank charges and interest 117 85
Consulting fees 36,634 177,085
Development costs – Note 4 268,919 412,455
Filing fees 867 121
Interest 57,256 57,088
Legal fees – Note 4 130,228 36,264
Management fees – Note 4 57,988 124,857
Office and miscellaneous 23,270 66,274
Rent 26,154 28,917
Salaries and benefits 154,052 96,888
Stock-based compensation 57,242 -
Transfer agent 225 815
Travel – Note 4 39,524 80,478
Write down of patents - 8,994
Write down of inventory - 63,928

(979,578 ) (1,319,826 )

Operating loss before other item (954,717 ) (1,130,594 )

Other item:
Interest income - 5,292

Net loss for the period (954,717 ) (1,125,302 )

Other comprehensive loss
Foreign currency adjustment (96,337 ) (2,551 )

Comprehensive loss for the period $ (1,051,054 ) $ (1,127,853 )

Basic loss per share $ (0.01 ) $ (0.01 )

Weighted average number of shares outstanding 118,178,323 115,771,988

SEE ACCOMPANYING NOTES


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AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Cash flows used in Operating Activities
Net loss for the period $ (954,717 ) $ (1,125,302 )
Items not affecting cash:
Amortization 5,899 6,584
Stock-based compensation 57,242
Write-down of patents - 8,994
Write-down of inventory - 63,928
Interest imputed on loans payable 24,000 -
Changes in non-cash working capital items:
Accounts receivable 10,882 (126,415 )
Government value added tax receivable 126,004 12,329
Inventory (13,251 ) 9,748
Accounts payable and accrued liabilities (23,954 ) 526,835

(767,895 ) (623,299 )

Cash flows used in Investing Activities
Equipment disposal 5,634 48,178
Repayment of loans receivable - (68,388 )

5,634 (20,210 )

Cash flows from Financing Activity
Increase in loans payable 677,508 174,408

Effect of exchange rates on cash 6,158 (7,730 )

Decrease in cash during the period (78,595 ) (476,831 )

Cash, beginning of the period 187,432 658,949

Cash, end of the period $ 108,837 $ 182,118

SEE ACCOMPANYING NOTES


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AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Capital stock issued for cash 1 $ 31,042 $ - - $ - $ - $ - $ 31,042
Contribution of assets - - 25,056 - - - - 25,056
Pursuant to the acquisition of Aqua
Society GmbH 10,000,000 10,000 - 34,000,000 34,000 - - 44,000
Exchange of shares (1 ) (31,042 ) - - - - - (31,042 )
Outstanding shares of Company
prior to acquisition 69,908,000 69,908 - - - - (194,748 ) (124,840 )
Unrealized loss on translation - - - - - (997 ) - (997 )
Net loss for the period - - - - - - (67,448 ) (67,448 )

Balance, September 30, 2004 79,908,000 79,908 25,056 34,000,000 34,000 (997 ) (262,196 ) (124,229 )

Issued for cash:
Pursuant to private placement - at $2.40 416,666 417 999,583 - - - - 1,000,000
- at $1.98 1,232,322 1,233 2,438,766 - - - - 2,439,999
Pursuant to exercise of options - at $1.70 215,000 215 365,285 - - - - 365,500
Conversion of special warrants 34,000,000 34,000 - (34,000,000 ) (34,000 ) - - -
Stock-based compensation - - 22,480,000 - - - - 22,480,000
Unrealized gain on translation - - - - - 89,594 - 89,594
Net loss for the year - - - - - - (25,787,558 ) (25,787,558 )

Balance, September 30, 2005 115,771,988 115,773 26,308,690 - - 88,597 (26,049,754 ) 463,306

Pursuant to private placement - at $1.04 1,160,960 1,161 1,206,237 - - - - 1,207,398
- at $0.88 1,245,375 1,245 1,094,685 - - - - 1,095,930
Unrealized loss on translation - - - - - (238,965 ) - (238,965 )
Net loss for the period - - - - - - (4,328,249 ) (4,328,249 )

Balance, September 30, 2006 118,178,323 118,179 28,609,612 - - (150,368 ) (30,378,003 ) (1,800,580 )

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

Continued

AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Stock-based compensation - - 57,242 - - - - 57,242
Unrealized loss on translation - - - - (96,337 ) - (96,337 )
Contribution of interest – Note 5 - - 24,000 - - - - 24,000
Net loss for the period - - - - - - (954,717 ) (954,717 )

Balance, December 31, 2006 118,178,323 $ 118,179 $ 28,690,854 - $ $ (246,705 ) $ (31,332,720 ) $ (2,770,392 )

SEE ACCOMPANYING NOTES


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AQUA SOCIETY, INC.
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2006
(Stated in US Dollars)
(Unaudited)

Note 1 Interim Reporting

While information presented in the accompanying interim consolidated financial statements is unaudited, it includes all adjustments, which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented. All adjustments are of a normal recurring nature. The accompanying interim consolidated financial statements do not include all information and footnote disclosures required for an annual set of financial statements prepared under generally accepted accounting principles in the United States of America. The accompanying interim consolidated financial statements should be read in conjunction with the Company’s September 30, 2006 audited consolidated financial statements. Operating results from the period ended December 31, 2006 are not necessarily indicative of the results that can be expected for the year ending September 30, 2007.


Note 2 Nature and Continuance of Operations

These interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for the next twelve months. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. At December 31, 2006, the Company had not yet achieved profitable operations, has accumulated losses of $31,332,720 since its inception, has a working capital deficiency of $3,017,690 and expects to incur further losses in the development of its business, all of which casts substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent upon its ability to generate Future profitable operations 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 considers that the Company will be able to obtain additional funds by equity financing and/or related party advances; however there is no assurance of additional funding being available.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 2
(Unaudited)

Note 3 Investments

i) UFI Tec GmbH

By an agreement dated November 30, 2004 and effective December 10, 2004, the Company acquired a 33% interest in UFI-Tech GmbH (“UFI”), a German limited company, for consideration of EUR 25,565 (US $32,476). During the year ended September 30, 2005, the Company wrote down the $32,476 investment and related loans receivable of $67,227 to their net realizable value of $1. During the year ended September 30, 2006, the Company sold 13.1% of their 33% interest (19.9% interest remains) for proceeds of EUR 10,072 (US $12,237) and wrote down an additional loan receivable of $66,094 to its net realizable value of $1.

ii) By an agreement dated February 18, 2006, the Company acquired a 51% interest in TMR GmbH (“TMR”), a German limited company, in consideration of EUR 12,750 (US $15,999). TMR is involved in the development, installation, distribution and management of renewable resources. At the date of acquisition, TMR had no business, assets or liabilities. During the year ended September 30, 2006, the Company wrote down its investment by $15,674 (EUR 12,749) to $1. During the three months ended December 31, 2006, the Company disposed of its interest in TMR for $1.

Note 4 Related Party Transactions – Note 7

The Company incurred the following amounts charged by directors of the Company, the brother of a director of the Company and a law firm of which a former director of the Company is a partner:

Three months ended
December 31,
2006 2005

Development costs $ 88,013 $ 191,595
Legal fees - 26,073
Management fees 57,988 124,857
Travel - 1,780

$ 146,001 $ 344,305

Accounts receivable – other includes $59,367 related to an advance to a former officer of the Company.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 3
(Unaudited)

Note 4 Related Party Transactions – Note 7 – (cont’d)

Included in accounts payable and accrued liabilities is $77,498 (September 30, 2006: $79,358) due to directors of the Company and a former director of the Company. These amounts are unsecured, non-interest bearing and have no specific terms for repayment.

Included in loans payable is $1,527,238 (September 30, 2006: $1,441,507) due to a law firm of which a former director of the Company is a partner.

Note 5 Loans Payable

Of the total loans outstanding at December 31, 2006, $950,886 (September 30, 2006: $883,822) bear interest at 7.5% per annum, are secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $773,403 (September 30, 2006: $743,675) are non-interest bearing, secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $1,319,261 (September 30, 2006: $634,276) are non-interest bearing, unsecured and due on demand, and $122,185 (September 30, 2006: $115,326) of loans payable bear interest of 7.5% per annum, are unsecured and are repayable on or before December 31, 2006. The loans due on or before December 31, 2006 were not repaid and are consequently in default. The company has imputed interest on the non-interest bearing loans at 10% per annum for a total of $24,000 during the three months ended December 31, 2006.

Note 6 Capital Stock – Note 8

Commitments:

Share Purchase Options

On December 21, 2006, the Company adopted a second stock incentive plan (the “2006 Stock Option Plan”) to provide incentives to employees, directors, officers and permitted consultants. The 2006 Stock Plan provides for the issuance of up to 7,000,000 options with a term to be determined by the plan administer or, if not so established, ten years. The maximum aggregate number of shares that may be optioned under the 2006 Stock Option Plan will be increased effective the first day of each of the Company’s fiscal quarters (“adjustment date”), beginning with the fiscal quarter commencing April 1, 2007 by an amount equal to the lesser of i) 15% of the outstanding shares on the first day of the applicable quarter less a) the number of shares of common stock that may be optioned and sold under the plan prior to the adjustment date and b) the number of shares of common stock that may be optioned and sold under any other stock option plan in effect as of the adjustment date or ii) such lesser number of shares of common stock as may be determined by the Board.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 4
(Unaudited)

Note 6 Capital Stock – Note 8 – (cont’d)

Commitments: – (cont’d)

Share Purchase Options – (cont’d)

A summary of the stock options outstanding as at December 31, 2006 and changes during the period is presented below:

Weighted
Average
Exercise
Shares Price

Options outstanding at September 30, 2006 7,535,000 $ 1.70
Granted 4,500,000 $ 0.40

Options outstanding at December 31, 2006 12,035,000 $ 1.21

Options exercisable at December 31, 2006 7,535,000

A summary of stock options outstanding at December 31, 2006, is as follows:

Exercise
Number Price Expiry Date

562,500 $0.40 April 1, 2009
562,500 $0.40 July 1, 2009
562,500 0.40 October 1, 2009
7,535,000 $1.70 October 15, 2009
562,500 $0.40 January 1, 2010
562,500 $0.40 April 1, 2010
562,500 $0.40 July 1, 2010
562,500 $0.40 October 1, 2010
562,500 $0.40 January 1, 2011

12,035,000

The Company used the Black-Scholes option pricing model to compute estimated fair value at each of the grant dates.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 5
(Unaudited)

Note 6 Capital Stock – Note 8– (cont’d)

Commitments – (cont’d)

Share Purchase Options – (cont’d)

The Black-Scholes option-pricing model requires the input of highly subjective assumptions including the expected price volatility. Changes in the subjective input assumptions can materially affect the fair value estimate and therefore the Black-Scholes model does not necessarily provide a reliable single measure of the fair value of the Company’s share purchase options.

The Company used the Black-Scholes option pricing model to compute the estimated fair value of the options granted during the three months ended December 31, 2006, based on the following assumptions:

Risk-free interest rate 4.84%
Dividend yield rate 0.00%
Price volatility 159.23%
Weighted average expected life of options 2.03 years
Weighted average fair value $0.36

The Company recognized stock-based compensation of $57,242 during the three months ended December 31, 2006.

Share Purchase Warrants

As at December 31, 2006, a total of 2,406,335 share purchase warrants exercisable into 2,406,335 common shares were outstanding as follows:

Exercise
Number Price Expiry Date

1,169,960 $1.30 February 9, 2008
1,245,375 $1.10 June 15, 2008

2,406,335


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 6
(Unaudited)

Note 7 Commitments

i) Lease Contracts

By four lease agreements dated September 30, 2004 and effective October 1, 2004, the Company entered into four lease contracts for the Company’s corporate head office. The leases require total payments of EUR 6,690 (US$8,826) per month. Two of the leases are effective until May 31, 2007 and the other two are effective until December 31, 2007. The leases will be automatically extended every year unless cancelled with six months advance notice.

Minimum future lease payments

September 30, 2007 $ 80,960
2008 12,144

$ 93,104

ii) Management/Consulting Contracts


a) By a management consulting contract dated September 30, 2004 and effective October 1, 2004, the Company’s subsididary (“GmbH”) agreed to pay EUR15,000 (US $19,789) per month to a managing director of GmbH for development, production and quality assurance services. The managing director of the GmbH is also a director of the Company. This contract is for an unlimited term but may be terminated by either party with six months advance notice.


b) By a consulting agreement dated October 1, 2004, the Company agreed to pay $2,000 per month to a consultant of the Company. The agreement is effective for a term of 5 years. The Company granted 500,000 common stock options upon signing of the agreement. The exercise price of the stock options is $1.70 per share and expires on October 15, 2009.


c) By a management consulting contract dated and effective October 1, 2004, the Company agreed to pay EUR 5,000 (US$6,274) per month for marketing and business development services. Effective October 1, 2005, the contract was amended to increase the payment to EUR 7,500 (US $9,411) per month. Effective October 1, 2006, the contract was amended to EUR 15,000 (US$19,028) per month for October, November and December, 2006. By an agreement dated November 1, 2006 and effective January 11, 2007, the Company agreed to the payment of EUR 2,000 (US $2,638) per month until December 31, 2007 and a 5% commission of gross sales to third parties which occurred as a result of the consultant’s work. The contract automatically renews for one year if not terminated at the end of a year by giving six months advance notice.



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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 7
(Unaudited)

Note 7 Commitments – (cont’d)

ii) Management/Consulting Contracts – (cont’d)

d) By a management consulting contract dated and effective January 1, 2005, the GmbH agreed to pay EUR 5,520 (US $7,002) per month for marketing, sales and distribution services. By an agreement dated November 10, 2006 and effective January 1, 2007, the contract was amended to decrease the payment to EUR 3,750 (US $4,947) per month with additional payments of EUR 10,000 (US $12,686) and EUR 5,000 (US$6,343) in November and December 2006 respectively. The contract ends on December 31, 2007 and may be terminated by either party with three months advance notice.

e) By a management consulting agreement dated August 1, 2005, the GmbH agreed to pay EUR 3,900 (US $5,145) per month for administration services for the research and development department. The contract is for an unlimited term and may be terminated by either party by giving six months advance notice.

f) By a management consulting contract dated December 12, 2005 and effective January 1, 2006, the GmbH agreed to pay EUR 20,000 (US $25,371) per month to March 31, 2006 and EUR 25,000 (US $31,714) per month to December 31, 2006 for technical services. Effective September 18, 2006, the contract was amended and the payment was decreased to EUR 10,000 (US$ 12,686) per month and extended to June 30, 2007. The management consulting contract is with a company owned by a director of the Company.

g) By a management consulting contract dated November 10, 2004, the Company agreed to pay EUR 500 (US $660) per press release to a former director of the Company. This contract is for an unlimited term but may be terminated by either party with one month advance notice.

h) By management consulting agreements dated December 28, 2006, the Company agreed to pay directors of the Company a total of EUR 56,000 (US $73,879) for the period October 1, 2006 to December 31, 2006 and EUR 14,000 (US $18,470) per month for the period January 1, 2007 to September 30, 2007. The contract is for an unlimited term but may be terminated by either party with three months advance notice.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 8
(Unaudited)

Note 8 Subsequent Event

Subsequent to December 31, 2007, the Company approved a private placement offering of 7,500,000 units at $0.30 per unit with each unit consisting of one share of the Company’s common stock and one-half share purchase warrant for total proceeds of $2,250,000. Each share purchase warrant entitles the holder to purchase one additional share of the Company’s common stock at $0.35 per share for a period of one year from the date of issuance of the units.


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ITEM 2. MANAGEMENT\\'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this Quarterly Report constitute "forward-looking statements". These statements, identified by words such as “plan”, "anticipate," "believe," "estimate," "should," "expect" and similar expressions include our expectations and objectives regarding our future financial position, operating results and business strategy. These statements reflect the current views of management with respect to future events and are subject to risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from those described in the forward-looking statements. Such risks and uncertainties include those set forth under the caption "Management\\'s Discussion and Analysis or Plan of Operation" and elsewhere in this Quarterly Report. We do not intend to update the forward-looking information to reflect actual results or changes in the factors affecting such forward-looking information. We advise you to carefully review the reports and documents we file from time to time with the United States Securities and Exchange Commission (the “SEC”), particularly our Annual Reports on Form 10-KSB and our Current Reports on Form 8-K.

As used in this Quarterly Report, the terms "we", "us", "our", “the Company” and “Aqua Society” mean Aqua Society, Inc. unless otherwise indicated. All dollar amounts in this Quarterly Report are in U.S. dollars unless otherwise stated.

INTRODUCTION

The following discussion and analysis summarizes our plan of operation for the next twelve months, our results of operations for the three month period ended December 31, 2006 and changes in our financial condition from September 30, 2006. This discussion should be read in conjunction with the Management’s Discussion and Analysis or Plan of Operation included in our Annual Report on Form 10-KSB for the year ended September 30, 2006.

We were incorporated under the laws of the State of Nevada on March 2, 2000, under the name “V G Tech, Inc.”

On September 22, 2004, we completed the acquisition of Aqua Society GmbH (“Aqua GmbH”). Prior to our acquisition of Aqua GmbH, we were in the business of providing services in the areas of digital graphics and special effects. Upon completing the acquisition of Aqua GmbH, we abandoned this digital imaging business. We are now in the business of designing and developing applied technologies, and providing consulting services, in the areas of heating, ventilation, air conditioning, refrigeration, water purification, waste water treatment, and, our latest business segment, energy (collectively, the “Aqua Business”).

Effective December 27, 2004, we changed our name to “Aqua Society, Inc.” to better reflect the nature of our current business operations

Recent Corporate Developments

The following significant corporate developments have occurred since our fiscal year ended September 30, 2006:

1. After the completion of our 2006 fiscal year, we completed the construction of a demonstration prototype of our EnergyMission / Yellow Box technology. A media event to showcase this demonstration model was held at our facilities on December 21, 2006. This demonstration unit will be used by us for marketing and demonstration purposes as well as for research and development.


3


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2. On December 21, 2006, our Board of Directors approved and adopted our 2006 Stock Option Plan (the “2006 Option Plan”). Under the 2006 Option Plan, options may be granted for a maximum of 7,000,000 shares of our common stock. The maximum number of shares that may be optioned under the 2006 Option Plan will increase each fiscal quarter, beginning with the fiscal quarter commencing April 1, 2007, by an amount equal to 15% of the total increase in the number of shares of common stock outstanding or such lesser amount as may be determined by our Board of Directors.


A summary of our 2006 Option Plan is set forth in our Current Report on Form 8-K filed with the SEC on December 29, 2006. The full text of the 2006 Option Plan is attached as Exhibit 10.1 to our Current Report on Form 8-K filed with the SEC on December 29, 2006, and is incorporated by reference herein.


3. Also on December 21, 2006, our Board of Directors approved the grant of options under the 2006 Option Plan for 2,500,000 shares of our common stock at an exercise price of $0.40 per share to Mr. Terberg and options to purchase an aggregate of 2,000,000 shares of our commons stock to Mr. van der Zee, also at a price of $0.40. The options granted to each of Mr. Terberg and Mr. van der Zee vest in equal quarterly instalments, commencing on April 1, 2007 and expiring 2 years after the applicable vesting date.


Changes to the Board of Directors and Executive Officers

In addition to the above corporate developments, there have been a number of changes to our Board of Directors and executive officers since the end of our 2006 fiscal year.

Effective October 31, 2006, Robert Terberg replaced Petrus Lodestijn as our Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary and also as a member of our Board of Directors. Also effective on October 31, 2006, our Board of Directors was expanded by the appointment of Hubert Hamm as a director of the Company and by the appointment of Hugo van der Zee as the Chairman of the Company’s Board of Directors.

PLAN OF OPERATION

During the next twelve months, we will focus: (1) on the design and construction of products ordered from us; (2) on further developing the market for our products; and (3) on continuing to develop and improve our products. Specifically, our plan of operation for the next twelve months involves the following:

1. Design and Construction of Ordered Units: During the next twelve months, we will work on the design and construction of the waste heat power generation, AquaMission and ThermoMobil units for which we have received orders.


2. Market Development Activities: Over the next twelve months we intend to do the following in an effort to continue developing a market for our products and services:


(a) We have completed the construction of a prototype EnergyMission / Yellow Box unit that we will use for marketing and demonstration purposes, as well as for ongoing research and development. The prototype unit will be used by us to demonstrate the effectiveness of our technology to trade media and industry representatives on an ongoing basis.


(b) We are also in the process of setting up a wholly owned subsidiary in the Netherlands (the “Dutch Subsidiary”), through which we will seek to promote all of our products in the “Benelux” countries (Belgium, the Netherlands and Luxemberg). In addition, we intend to use the Dutch Subsidiary to establish an additional production facility to be located in


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the Netherlands. This production facility is expected to enable us to significantly expand our production capabilities from the limited facilities located in Herten, Germany. The Dutch Subsidiary is expected to be based in Zevenaar, near Arnhem, in the east of the Netherlands.


(c) We will continue to attempt to market the AquaMission combined air-conditioning and drinking water product in geographic locations with high ambient temperatures and relative humidity but without readily available sources of fresh water, such as the Persian Gulf and the Middle East. Three demonstration models of the AquaMission are currently on location in the Middle East. We are currently in the process of seeking new sales agents for our products in the Middle East.


We will continue to try and generate sales in the Middle East using these demonstration models.


In addition to these activities, we may also seek to increase brand awareness through various advertising activities and sponsorships.

3. Product Development Activities: During the next twelve months, we will also continue to work on further developing and improving our existing products in an effort to increase their marketability. As part of these efforts, we have developed and built a demonstration model of our Yellow Box technology.


We are also in the process of constructing a high-tech “climate room” that will allow us to simulate the world’s various humidity and temperature zones. This “climate room” will assist us in optimizing our AquaMission unit for different geographic locations.


We anticipate spending approximately $2,000,000 in pursuing our plan of operation over the next twelve months. As of December 31, 2006, the date of our most recently available financial statements, we had a working capital deficit of $3,017,690. As such, we do not have sufficient working capital to meet our expected needs over the next twelve months. Although we have recently begun to earn revenues, we have not yet earned a net profit and we do not expect to achieve profitability in the near future as we expect to continue to incur substantial product development, marketing and operating expenses. We are likely to continue to need substantial additional financing in order to implement our plan of operation. Our management expects that any additional financing that we obtain will likely be in the form of equity financing.

Our actual expenditures and business plan may differ from the one stated above. Our Board of Directors may decide not to pursue this plan. In addition, we may modify the plan based on available financing.

RESULTS OF OPERATIONS

First Quarter Summary

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Revenue $25,441 $782,242 (96.7)%
Cost of Goods Sold (580) (593,010) (99.9)%
General and Administrative Expenses (979,578) (1,319,826) (25.8)%
Other Items Nil (5,292) (100.0)%
Net Loss $(954,717) $(1,125,302) (15.2)%

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Revenues

During our last fiscal year, we earned revenues from HVAC&R and energy optimization consulting services, and from equipment sales made in connection with the provision of those services. However, we do not have a long-term history of earning revenues and, as a result, we are unable to accurately forecast future revenues. Readers are cautioned that our past operating results may not be indicative of future performance.

During the fiscal year ended December 31, 2006, our revenue decreased by 96.7% as compared to the same period ended in 2005. Since their appointment in October, 2006, our new executive officers and directors have been conducting a company wide review of our operations. During this period, we scaled back our HVAC&R and energy optimizing consulting activities. As a result, our revenues decreased substantially.

During the next twelve months, we intend to concentrate our resources on developing the market for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, as we believe that these products will provide us with the greatest opportunity for future profitability. As a result, we may continue to scale back the HVAC&R and energy optimization consulting services that we have provided in the past.

Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products, and there are no assurances that we will be able earn such revenues in the future.

Operating Costs and Expenses

Our operating expenses for the quarterly period ended December 31, 2006 consisted of the following:

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Accounting and audit fees $73,443 $57,121 28.6%
Advertising and promotion 19,329 58,187 (66.8)%
Amortization 5,899 6,584 (10.4)%
Bad debts 28,431 43,685 (34.9)%
Bank charges and interest 117 85 37.6%
Consulting fees 36,634 177,085 (79.3)%
Development costs 268,919 412,455 (34.8)%
Filing fees 867 121 616.5%
Interest 57,256 57,088 0.3%
Legal fees 130,228 36,264 259.1%
Management fees 57,988 124,857 (53.6)%
Office and miscellaneous 23,270 66,274 (64.9)%
Rent 26,154 28,917 (9.6)%
Salaries and benefits 154,052 96,888 (59.0)%
Stock-based compensation 57,242 Nil 100.0%
Transfer agent 225 815 (72.4)%

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Travel 39,524 80,478 (50.9)%
Write down of patents Nil 8,994 (100.0)%
Write down of inventory Nil 63,928 (100.0)%
Total General and Administrative Expenses $979,578 $1,319,826 (25.8)%

Our general and administrative expenses decreased by $340,248, or 25.8%, during the three month period ended December 31, 2006 as compared to 2005. This decrease in our general and administrative expenses was primarily generated as a result of the efforts of our current management to streamline our operations. During the next few months, we expect that our general and administrative expenses will continue to fluctuate somewhat as we continue to review and overhaul our current operations.

Management fees decreased by $66,869, or 53.6%, during the quarter ended December 31, 2006, primarily because of the termination of a management services contract under which we had been obligated to pay management fees of EUR 20,000 per month to a law firm of which a former officer and director is a partner. Also, during the last fiscal quarter, we scaled back some of our product development activities as our management conducted a company wide assessment of our operations. As a result, development costs, and consulting fees associated with our development activities, also decreased significantly during our last fiscal quarter. Office and travel expenses also decreased primarily as a result of our efforts to streamline our operations. Also contributing to the overall decrease in our general and administrative expenses from the quarter ended December 31, 2005 was the fact that, during our December 31, 2005 fiscal quarter, we recognized one-time patent and inventory write down charges totaling $72,922. No patent or inventory write down charges were recognized for the period ended December 31, 2006.

Offsetting the above decreases were significant increases in accounting and audit fees, legal fees and salaries and benefits. The increase in legal fees relates primarily to amounts incurred in connection with the negotiation of our patent licensing agreement with Ecoenergy Patent GmbH and in connection with the restructuring of our operations by our new management. The events giving rise to the additional amounts spent on legal fees are not expected to be ongoing. Accounting and auditing fees increased as a result of an increase in the amounts charged by our consulting accountants and by our independent auditors. The increase in salaries and benefits was a result of the hiring of two additional non-management employees.

Also, during the period ended December 31, 2007, we recorded stock-based compensation expenses of $57,242 on account of stock options granted to certain of our officers and directors during the period. No options or other stock-based compensation were granted during the period ended December 31, 2005.

LIQUIDITY AND CAPITAL RESOURCES

Working Capital

At At Percentage
December 31, 2006 September 30, 2006 Increase / (Decrease)
Current Assets $675,063 $854,960 (21.0)%
Current Liabilities (3,692,753) (2,914,370) 26.7%
Working Capital Surplus (Deficit) $(3,017,690) $(2,059,410) 46.5%

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Included in current liabilities are a total of $1,527,238 payable to a law firm of which one of our former officers and directors, is a partner. We are currently in negotiations with the former officer and director for the settlement of the amounts owed to him and his law firm.

Cash Flows

Three Months Ended December 31
2006 2005
Cash Flows used in Operating Activities $(767,895) $(623,299)
Cash Flows used in Investing Activities 5,634 (20,210)
Cash Flows from Financing Activities 677,508 174,408
Effects of Foreign Exchange Rates 6,158 (7,730)
Net Decrease in Cash During Period $(78,595) $(476,831)

During the period ended December 31, 2006, we obtained financing in the form of a EUR 500,000 loan. This loan is unsecured, non-interest bearing and payable upon demand.

Total loans payable at December 31, 2006 consist of the following amounts:

(a) $950,886, bearing interest at a rate of 7.5% per annum, secured by accounts receivable and repayable on or before December 31, 2006;


(b) $773,403, non-interest bearing, secured by accounts receivable and repayable on or before December 31, 2006;


(c) $122,185, bearing interest a rate of 7.5% per annum, unsecured and payable on or before December 31, 2006; and


(d) $1,319,261, non-interest bearing, unsecured and due on demand.


The amounts payable on or before December 31, 2006 have not yet been repaid and are past due. We are currently in negotiations with our creditors for the settlement and repayment of amounts owed to them.

As at December 31, 2006 we had cash in the amount of $108,837 and a working capital deficit of $3,017,690. We anticipate spending approximately $2,000,000 over the next 12 months in pursuing our plan of operation. We will require substantial additional financing in the next few months in order to pursue our current plan of operation.

Although we earned revenues during our fiscal year ended September 30, 2006, we did not earn significant revenues during the fiscal quarter ended December 31, 2006 and we have not yet achieved profitability. Our future financial results are uncertain due to a number of factors, many of which are outside of our control. These factors include, but are not limited to:

(a) our ability to commercially market our ThermoMobil and AquaMission products;


(b) our ability to develop a commercially marketable EnergyMission/Yellow Box product;


(c) our ability to raise additional capital necessary to implement our business strategy and plan of operation;


(d) our ability to compete with other existing technologies; and


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(e) the success of any marketing and promotional campaign which we conduct for our products once development is complete.


Due to the uncertainty regarding our future revenues and profitability, we expect that the majority of additional financing that we obtain, if any, will likely be in the form of equity financing. Our management does not expect sufficient debt financing to be available to us through traditional sources at this stage of our business.

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 are material to our stockholders.

CRITICAL ACCOUNTING POLICIES

The preparation of financial statements in conformity with generally accepted accounting principles requires our management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Our management routinely makes judgments and estimates about the effects of matters that are inherently uncertain.

We have identified certain accounting policies, described below, that are most important to the portrayal of our current financial condition and results of operations. Our significant accounting policies are disclosed in Note 3 to the interim financial statements included in this Quarterly Report.

Principles of Consolidation

The consolidated financial statements include the accounts of Aqua Society, Inc and our wholly owned subsidiary, Aqua Society GmbH, a German limited liability company (“Aqua GmbH”). All inter-company transactions have been eliminated.

Foreign Currency Translation

Our functional currency is United States dollars. Our subsidiary, Aqua GmbH, uses the Euro as its functional currency. Accordingly, assets and liabilities of Aqua GmbH are translated into US dollars at the exchange rate in effect at the balance sheet date and capital accounts are translated at historical rates. Income statement accounts are translated at the average rates of exchange prevailing during the period. Translation adjustments arising from the use of differing exchange rates from period to period are included in the Accumulated Other Comprehensive Gain/(Loss) account in Stockholders’ Equity.

Transactions undertaken in currencies other than the functional currency of the entity are translated using the exchange rate in effect as of the transaction date. Any exchange gains and losses would be included in the Statement of Operations.

Patents, Patent Rights and Amortization

Patents and patent rights are recorded at cost. We provide for the amortization of patents and patent rights on the straight-line basis over their estimated economic lives, estimated to be 5 years. Amortization is recorded upon the patents being awarded.

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RISKS AND UNCERTAINTIES

Need For Financing

We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability. We are likely to continue to need substantial additional financing in order to implement our long term business plan. There is no assurance that we will be able to acquire sufficient financing on terms acceptable to us or at all. If financing is not available or obtainable, our ability to meet our financial obligations and pursue our plan of operation will be substantially limited and investors may lose a substantial portion or all of their investment

Limited Operating History, Risks Of A New Business Venture

We are still in the process of developing our business and have only recently begun to earn revenues. Readers are cautioned that our past results may not be indicative of future performance.

Potential investors should be aware of the difficulties normally encountered by a new enterprise and the high rate of failure of such enterprises. The potential for future success must be considered in light of the problems, expenses, difficulties complications and delays encountered in connection with the development of a business in the area in which we intend to operate and in connection with the formation and commencement of operations of a new business in general. These include, but are not limited to, unanticipated problems relating to research and development programs, marketing, approvals by government agencies, competition and additional costs and expenses that may exceed current estimates. There is no history upon which to base any assumption as to the likelihood that we will prove successful, and there can be no assurance that we will ever achieve profitable operations.

If We Are Unable To Achieve Market Acceptance For Our Products, We Will Be Unable To Build Our Business

To date, we have completed technical development of our EnergyMission/Yellow Box, ThermoMobil and AquaMission products. However, we have only received a limited number of confirmed orders for these products. Our future success will depend upon the acceptance of our existing products, and other products that we develop, by the respective industries in which we intend to market those products. Achieving such acceptance will require significant investments in research and development and market development. The technologies upon which our products and services are based are relatively new and are evolving. Accordingly, in order to achieve commercial acceptance, we will have to educate prospective clients about the uses and benefits of our products.

Even If We Are Able To Develop A Commercial Market For Our Products, We May Not Have The Ability To Meet The Demand For Those Products

We intend to complete the construction of the initial AquaMission, ThermoMobil and EnergyMission/Yellow Box units ordered from us at our facilities located in Herten, Germany. However, the size of these facilities is limited.

We are currently in the process of establishing a wholly owned subsidiary in the Netherlands, with which we intend to establish a larger scale production facility. Further, we intend to seek supply contracts and/or joint venture/licensing agreements with independent manufacturing companies to manufacture our products on a large scale basis, however we have not yet entered into any such contracts or agreements.

Our Operations May Be Subject to Extensive Government Regulation

Our operations may be subject to extensive government regulations in the United States, Europe and elsewhere. In order to sell our products, we may have to satisfy numerous mandatory procedures,

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regulations, and safety standards established by international, federal and state regulatory agencies. Although we currently comply with stringent German regulations, there can be no assurance that we can successfully comply with all present and future government regulations worldwide.

Risks of International Business Operations

Although we are incorporated in the United States, the majority of our operating activities are conducted in Germany. Additionally, in the past, we have targeted markets for our products in the Persian Gulf and other developing parts of the world, such as Africa. As such, a significant portion of our business depends upon our ability to establish and maintain successful relationships with businesses and governments located outside of the United States. If we are unable to establish and maintain such relationships, we may not be able to implement our business plan or plan of operations.

In order to better manage the risks associated with our international operations, our management has decided to focus their business development efforts on markets near to our base of operations, such as Germany, the Netherlands and the rest of Europe.

Rapid Technological Changes In Our Industry Could Make Our Products Obsolete

The industry in which we intend to compete is characterized by rapid technological change and intense competition. New technologies, products and industry standards will develop at a rapid pace which could make our planned products obsolete. Our future success will depend upon our ability to develop and introduce product enhancements to address the needs of our customers.

Asserting And Defending Intellectual Property Rights May Impact Results Of Operations

The success of our business may depend on our ability to successfully defend our intellectual property rights. Future litigation may have a material impact on our financial condition even if we are successful in developing and marketing products. We may not be successful in defending or asserting our intellectual property rights.

An adverse outcome in any litigation or interference proceeding could subject us to significant liabilities to third parties and require us to cease using the technology that is at issue or to license the technology from third parties. In addition, a finding that any of our intellectual property rights are invalid could allow our competitors to more easily and cost-effectively compete. Thus, an unfavorable outcome in any patent litigation or interference proceeding could have a material adverse effect on our business, financial condition or results of operations.

The cost to us of any patent litigation or interference proceeding could be substantial. Uncertainties resulting from the initiation and continuation of patent litigation or interference proceedings could have a material adverse effect on our ability to compete in the marketplace. Patent litigation and interference proceedings could also absorb significant management time.

We May Be Subject To Product Liability Lawsuits

We may be subject to product liability claims. Such claims may absorb significant management time and could degrade our reputation and the marketability of our products. If product liability claims are made with respect to our products, we may need to recall the implicated product which could have a material adverse effect on our business, financial condition and results of operations. In addition, although we may maintain product liability insurance, we cannot be sure that such insurance will be adequate to cover potential product liability lawsuits. Insurance is expensive and in the future may not be available on acceptable terms, if at all. If a successful product liability claim or series of claims exceeds insurance coverage, it could have a material adverse effect on our business, financial condition and results of operations.

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If We Are Late In Filing Any Of Our Annual Or Quarterly Reports During The Next Two Years, Our Common Stock May Become Ineligible For Quotation On The OTC Bulletin Board, Which Would Negatively Affect The Market For Our Shares And Our Ability To Obtain Additional Financing.

On November 16, 2005, the SEC approved certain changes to NASD Rule 6530. As amended, NASD Rule 6530 provides that OTC Bulletin Board (“OTCBB”) issuers who are late in filing their annual or quarterly reports three times within a 24-month period will be ineligible for quotation on the OTCBB. In order to regain eligibility under this rule, the issuer would need to timely file all of its annual and quarterly reports due in a one year period. The amended NASD Rule 6530 does not apply to annual or quarterly reports for periods ended before October 1, 2005.

From time to time, we have been late in filing our quarterly and annual reports. If we are late in filing our annual or quarterly reports three times within a 24-month period, we may become ineligible for quotation on the OTCBB, which would negatively affect the market for our common stock. In addition, if our common stock is no longer eligible for quotation on the OTCBB, it may become more difficult for us to obtain additional equity financing as shares of our common stock will be less attractive to potential investors.

ITEM 3. CONTROLS AND PROCEDURES.

Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as of the end of the period covered by this report. Based on that evaluation, our principal executive officer and principal financial officer has concluded that our disclosure controls and procedures were not effective as we failed to timely file our periodic reports with the SEC on a number of occasions during the past fiscal year.

Our new management is in the process of taking measures to improve our disclosure controls and procedures in an effort to ensure that the information required to be disclosed is internally communicated and publicly reported within the time periods specified in the SEC’s rules and forms. In particular, we intend to engage outside consultants to assist us in the preparation of our accounting records and financial statements and will attempt to increase internal accountability and to clearly define internal communication channels in an effort to remedy the deficiencies identified by our principal executive officer and principal financial officer.

By working with our external consultants and our principal independent accountants, our management believes that the financial statements and the other information presented in this Quarterly Report are materially correct.

There were no changes in our internal control over financial reporting during the last fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

None.

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

All unregistered sales of our equity securities completed during our fiscal quarter ended December 31, 2006 have been previously reported in the Quarterly Reports on Form 10-QSB and Current Reports on Form 8-K that we filed during that period.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

None.

ITEM 5. OTHER INFORMATION.

Compensatory Arrangements Of Certain Officers

Effective December 28, 2006, we entered into management consulting services agreements with each of Robert Terberg, our current Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary, and currently a member of our Board of Directors, and Hugo van der Zee, currently the Chairman of our Board of Directors. The terms of our agreements with Mr. Terberg and Mr. van der Zee are disclosed in our Annual Report filed with the SEC on January 16, 2007.

ITEM 6. EXHIBITS.

Exhibit
Number Description of Exhibit
3.1 Restated Articles of Incorporation filed with the Nevada Secretary of State effective December 27, 2004.(5)
3.2 Bylaws, effective March 2, 2000.(1)
10.1 Share Purchase Agreement between Water-Capital-Holding Ltd., V G Tech, Inc., Aqua Society GmbH and Steve Livingston, dated for reference September 3, 2004.(2)
10.2 Agreement and Deed of Transfer between Water-Capital-Holding Ltd. and V G Tech, Inc. dated for reference September 22, 2004.(3)
10.3 Certified Translation of a Notarial Deed executed by Uwe Diestel and Aqua Society GmbH dated November 30, 2004 regarding the purchase and sale of an interest in UFI-TEC GmbH.(5)
10.4 2004 Stock Incentive Plan.(4)

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Exhibit
Number Description of Exhibit

[krofisch]

Antwort auf Beitrag Nr.: 27.882.809 von westfale64 am 21.02.07 19:01:03

Solche 'merkwürdigen' und 'hasserfüllten' Postings schreiben eigentlich doch nur wegen Unfähigkeit entlassene ehemalige Hamm-Mitarbeiter

Diese trauen sich daher auch nicht bei AQUA anzurufen, da man sie hier kennt und sich nur vor Lachen den Bauch halten würde.

[Leichtmatrose]

Warum taucht eigentlich die 285000 € Zahlung an Oser in der Bilanz nicht auf? Wäre doch am 19.12.06 fällig gewesen.
http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

10.16 Technical Consulting Agreement between Aqua Society GmbH and Dr. Oser Partner in Technik.

EX-10.16 2 exhibit10-16.htm TECHNICAL CONSULTING AGREEMENT

Technische Unternehmensberatung
DR. OSER
PARTNER IN TECHNIK

Technical Consulting for innovative power generation
• Obtaining drinking water from the atmosphere
• Power from waste heat/ low temperature heat
• Reverse cycle heating systems
• Mechanical laboratory/ pilot plant station / testing
• Further applications and designs
QUOTATION No. 3036/ 05
Client: Aqua Society GmbH
Innovative Systemoptimierungen
Konrad-Adenauer-Str. 9-13
46699 Herten

Project manager: Mr. Hubert Hamm, Graduate Engineer
Managing director



Service focus: Innovative management
Dr. E. Oser
Cologne, December 2, 2005


Dr. E. Oser/Partner in Technik Cologne Office:
Hansaring 145 + 147 Tel.: [phone] Email: [e-mail]

Cologne Aachen Jena 50670 Cologne Fax: [phone] Internet: http://www.dr-oser.de

________________________________________

Technische Unternehmensberatung
DR. OSER
PARTNER IN TECHNIK

Page 2 of 6
1. Initial situation/ task
The firm Aqua Society is a machine and systems manufacturing company active in the sectors water, refrigeration and energy. The company has specialized in combining proven technologies into innovative system solutions. The objective consists of developing products, which significantly improve upon traditional system solutions in terms of technical performance and usability.
A system design for obtaining drinking water from the atmosphere, in which moisture is drawn from a stream of air through a cooling process, has led to ideas being considered for energy saving systems in the area of refrigeration technology, which at the same time result in promising system applications in the field of efficient energy technology.
These ideas were developed in the context of the ongoing consulting assignment of the Technische Unternehmensberatung Dr. OSER/Partner in Technik together with its partners. These ideas have resulted in various applications for industrial property rights, which have since then also been expanded to international applications, and which will probably be granted following the first inspections.
Aqua Society is interested in further developing these patented technologies into saleable products and in manufacturing and marketing the corresponding systems itself. For this work, a pilot plant station was set up together with Dr. OSER/Partner in Technik and the firm VacuTec GmbH in which the first prototype systems can be examined.
Through contact with private investors and the increase of available funds, the conceptual and development work will be increasingly continued. Dr. OSER/Partner in Technik will participate in this work in the context of technical consulting. The objective of the work to be completed is a speedy realization of the designs at hand into saleable solutions as well as the realization of prototype systems, to demonstrate the innovative technology to interested parties.

Dr. E. Oser/Partner in Technik Cologne Office:
Hansaring 145 + 147 Tel.: [phone] Email: [e-mail]

Cologne Aachen Jena 50670 Cologne Fax: [phone] Internet: http://www.dr-oser.de
________________________________________

Technische Unternehmensberatung
DR. OSER
PARTNER IN TECHNIK

Page 3 of 6
2. Planned work/ approach
Dr. OSER/ Partner in Technik shall take on partial projects, technical planning, design and coordination tasks. The partial tasks, Dr. OSER/Partner in Technik will also participate in the design and implementation of tests, to be closely coordinated with the client.
Additionally, Dr. OSER/Partner in Technik shall perform work in connection with the preparation and application for industrial property rights.
In coordination with the client, he shall also look after possibilities of obtaining public subsidies for development work to be completed. This includes potential cooperation with connected research facilities or other cooperation partners.
In accordance with the current planning stage, which has been coordinated with the management of Aqua Society GmbH, technical consulting for the calendar year 2006 shall consist of the following work priorities:
AS1 Developing new technical solutions

The “basic innovations” for which patent applications have been filed contain the beginnings of continuative technical solutions.

In the context of relevant fields of application for Aqua Society GmbH, point out new solutions, which have potential in terms of commercial realization.

Estimated amount of work: 2.0 man months

AS2 Technical designs, calculations, presentations

In connection with the development of the prototype systems, carry out technical planning and design work.

For the demonstration of innovative technologies for potentially interested parties, prepare appropriate and targeted presentations.

Estimated amount of work: 2.0 man months

AS3 Definition, preparation and development and elaboration of industrial property rights applications, overseeing cooperation with a patent attorney.

The technology to be implemented by Aqua Society shall be protected by industrial property rights.


Dr. E. Oser/Partner in Technik Cologne Office:
Hansaring 145 + 147 Tel.: [phone] Email: [e-mail]

Cologne Aachen Jena 50670 Cologne Fax: [phone] Internet: http://www.dr-oser.de

________________________________________

Technische Unternehmensberatung
DR. OSER
PARTNER IN TECHNIK

Page 4 of 6
This applies primarily to the following fields of application:
• Water from atmospheric systems
• Refrigeration and cooling systems
• Power from waste heat/ low temperature heat
• Reverse cycle heating systems
The applications of interest from a technological and financial perspective are to be pinpointed, the trademark rights to be defined and the corresponding applications to be dealt with, which includes coordination with a patent attorney’s office employed by Aqua Society GmbH.
Estimated amount of work: 2.0 man months
AS4 Utilization of public subsidies

It has been agreed that for the development work to be completed, for the construction of the prototype systems and the carrying-out of tests, public subsidies shall be utilized to the greatest extent possible.

In coordination with the client, Dr. OSER/Partner in Technik shall point out possible subsidies and look after the required applications in each instance. This shall include coordinating and/ or including external research facilities or agencies with know-how.

Estimated amount of work: 2.0 man months

AS5 Marketing strategies, external contacts

To market the technologies to be newly developed, strategies will be jointly developed and priorities will be set. It has been agreed that for the various applications, demonstration systems with clients will be the first objective. These offer on the one hand the potential of further investigation in practice during operation, and on the other hand the potential of presenting the technical efficiency to potentially interested parties.

The completion of this work will be coordinated with the client’s employees, who are responsible for sales and marketing.

Estimated amount of work: 1.6 man months

AS6 Continuative expansion of the technology specific mechanical laboratory and pilot plant station.

The mechanical laboratory set up to conduct examinations of the prototype systems requires technical infrastructure, for which set up began in the 2005 calendar year.


Dr. E. Oser/Partner in Technik Cologne Office:
Hansaring 145 + 147 Tel.: [phone] Email: [e-mail]

Cologne Aachen Jena 50670 Cologne Fax: [phone] Internet: http://www.dr-oser.de

________________________________________

Technische Unternehmensberatung
DR. OSER
PARTNER IN TECHNIK



Page 5 of 6

This infrastructure shall be expanded in joint planning work. This applies primarily to power generation systems as well as to measurement facilities to monitor and control the testing program.

Estimated amount of work: 1.5 man months

AS7 Participation in the project implementation

One of the current first priorities of activities for the 2006 calendar year are projects relating to power generation utilizing biogas systems. There are continuative designs thereto relating to preventing fermentation remnants and improving the energy yield.

For these kinds of projects, planning and coordinating tasks shall be taken on. Besides the technical responsibilities the work shall also extend to permit/ licensing applications or the utilization of public subsidies.

Estimated amount of work: 2.5 man months

AS8 New solutions, further innovations

In the fields of application relevant for Aqua Society GmbH

• Refrigeration, cooling technology
• Heat from atmospheric systems
• Power from waste heat/ low temperature heat


New ideas for solutions will be developed based on the existing designs, which could lead to saleable products and system designs. This work is tied to the ongoing considerations at Aqua Society GmbH regarding marketing strategies and developing marketing concepts.

This area of responsibility also includes the ongoing investigation of promising industrial trademark rights, to secure the market position of Aqua Society GmbH in such innovative areas of application.

Estimated amount of work: 2.0 man months

Estimated total amount of work (AS1-AS8): 16.0 man months


Dr. E. Oser/Partner in Technik Cologne Office:
Hansaring 145 + 147 Tel.: [phone] Email: [e-mail]

Cologne Aachen Jena 50670 Cologne Fax: [phone] Internet: http://www.dr-oser.de

________________________________________

Technische Unternehmensberatung
DR. OSER
PARTNER IN TECHNIK

Page 6 of 6
3. Work, time and expense plan
Technical consulting will be closely coordinated with Mr. Hubert Hamm, Graduate Engineer, Managing director of Aqua Society GmbH.
The professional consulting fees are estimated based on agreed upon lump sum monthly fees. The estimated fees include on the one hand the ongoing work of Dr. E. Oser as well as any additional scientific employees of Dr. OSER/Partner in Technik.
Estimated monthly fee:
January 1 to March 31, 2006 Euro 20,000 / month
April 1 to December 31, 2006 Euro 25,000 / month
Total estimated fee for the calendar year 2006: Euro 285,000.
[Translator’s note: 2 lines illegible text relating to statutory tax].
Payment terms: NET 14 days.

Cologne, 05/12/2005
Dr. OSER/Partner in Technik
[Signature]
(Dr. E. Oser)
We agree and hereby
accept this quotation:
Herten, [Handwriting: December 12, 2005]
Aqua Society GmbH
[Signature]
(Hubert Hamm, Graduate Engineer)
Managing director


Dr. E. Oser/Partner in Technik Cologne Office:
Hansaring 145 + 147 Tel.: [phone] Email: [e-mail]

Cologne Aachen Jena 50670 Cologne Fax: [phone] Internet: http://www.dr-oser.de

[westfale64]

#4905:
So werden die Aqua-Aktionäre ausgenommen.
Und mangels Erklärungen für diese Abzocke kann Aqua nur seinen Pusher losschicken, der die unangenehmen Fakten zumüllt....

[wohinistmeinGeld]

Und 3 mal innerhalb weniger Std dieses Armutszeugnis posten

Aber immerhin hat dieses international aktive Technologieunternehmen immer noch Cash, sogar ein paar 100 Euros mehr als ich in meiner Haushaltskasse., dafür habe ich keine Schulden.
Wer hat jetzt gewonnen


Was soll denn das unter Note 4 2005 sein?
Travel - 1,780

Haben sie da krofisch den Urlaub bezahlt

[krofisch]

Antwort auf Beitrag Nr.: 27.888.094 von westfale64 am 21.02.07 22:40:20

Da stehen doch nur die verzweifelten typischen sehr kreativen und merkwürdigen 'Übersetzungskünste' von 'Pinochio'.

Hier steht dafür das Original:
http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

[westfale64]

Antwort auf Beitrag Nr.: 27.904.383 von krofisch am 22.02.07 18:03:09

Kann der von Aqua bestellte Pusher kein englisch ?
Naja, wer solch einen miserablen Job ausüben muss wird kaum sehr gebildet sein.




In #4905 ist die wörtliche Übersetzung der Passagen des Aqua-Berichtes, die zeigen, dass Aqua es noch nie geschafft hat seine unbrauchbaren "Produkte" zu verkaufen und dass die Initiatoren dieser Abzockklitsche die Aktionärsmillionen mittels "management fees" in die eigene Tasche umleiten.

[krofisch]

Antwort auf Beitrag Nr.: 27.904.999 von westfale64 am 22.02.07 18:23:48

Naja, wer solch einen miserablen Job ausüben muss wird kaum sehr gebildet sein.

Deshalb bis du wohl auch ohne Job?

[krofisch]

Antwort auf Beitrag Nr.: 27.904.999 von westfale64 am 22.02.07 18:23:48

Da stehen doch nur die verzweifelten typischen sehr kreativen und merkwürdigen \'Übersetzungskünste\' von \'Pinochio\'.

Hier steht dafür das Original:
http://www.sec.gov/Archives/edgar/data/1213111/000106299307000600/form10qsb.htm

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.904.383 von krofisch am 22.02.07 18:03:09

ich muß da einfach was übersehen haben.
krofischchen hilf mir doch mal weiter:

wo steht denn das mit Rotes Kreuz und Elfenbeinküste die doch diesen Prototypen der Wassermaschine bestaunt haben und dann was gekauft haben?

Wo stehen denn die Einnahmen von Alstom Marine für die Abwasseraufbereitungsanlage?

Wo finde ich jetzt wieviele der 15 Thermomobile für Südostasien und Golfregionen inzwischen verkauft sind und die Einnahmen dazu?

Wo sind die Einnahmen der Geschäfte mit der UN?

Ich kann einfach nicht die Einnahmen, die durch die Vermittlung durch TSC im Jemen entstanden, finden.

Hat Coca Cola Indien inzwischen was gekauft? Ich kann die Einnahmen nicht finden. Oder stehen irgendwo wenigstens die Ergebnisse der Machbarkeitsstudie?

Wieviel wurde inzwischen durch die Wohnanlage in Indien eingenommen?

Hat Loick die Anlage die ihr geliefert habt noch nicht bezahl, oder warum find eich die Einnahmen nicht?


ich glaube, du hast doch recht, ich brauche eine Brille, oder liegt es daran, daß ich nicht lesen kann? Muß mal jemand fragen der das kann, damit er mir die Einnahmen dieser Geschäfte vorliest.

[krofisch]

Antwort auf Beitrag Nr.: 27.907.870 von wohinistmeinGeld am 22.02.07 20:05:09

'Gegen Dummheit ist noch kein Kraut gewachsen'

[krofisch]

Antwort auf Beitrag Nr.: 27.907.870 von wohinistmeinGeld am 22.02.07 20:05:09

ich brauche eine Brille, oder liegt es daran, daß ich nicht lesen kann


Du kannst auch sonst NICHTS!

Außer:
Zitat: wohinistmeinGeld:
Ich bin schon oft genug darauf reingefallen, ich glaube es wird Zeit zu kündigen.

oder

Zitat: wohinistmeinGeld:
wo mein Geld ist weiß ich übrigens trotzdem nicht, ich weiß nur das es weg ist

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.907.930 von krofisch am 22.02.07 20:07:26

ist diese unverschämte Antwort wieder alles was du zustande bekommst wenn man dich was höflich fragt?

[krofisch]

Antwort auf Beitrag Nr.: 27.908.096 von wohinistmeinGeld am 22.02.07 20:12:51

Nicht wieder Ablenken - \\\'LÜGE\\\' endlich zugeben!


Auf der Homepage habt ihr die Meldung über die Machbarkeitsstudie mit Coca Cola vom 20.10.05 ja gelöscht,

Ein Schelm ist, wer dies für eine \\\'wohinistmeinGeld-Lüge\\\' hält.

Ich habe die News auf der AQUA-Homepage gefunden:

unter
Meldungen
Aqua Society führt für Coca-Cola India eine Machbarkeitsstudie zur Wassergewinnung aus der Luft durch

- 20. Oktober 2005

Die Aqua Society, Inc. plant für Coca-Cola India

Was kannst du eigentlich?
Nicht mal einen Link richtig anklicken?
Oder: Brille Fielmann!

[krofisch]

Antwort auf Beitrag Nr.: 27.908.096 von wohinistmeinGeld am 22.02.07 20:12:51

Wie so soll die 'Wahrheit' über dich unverschämt sein.

Der Einzige der mMn 'unverschämt' ist bist du doch selber!

[krofisch]

Antwort auf Beitrag Nr.: 27.908.096 von wohinistmeinGeld am 22.02.07 20:12:51

Über dich können alle immer so schön lachen .....

Danke!

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.908.138 von krofisch am 22.02.07 20:14:15

was soll das für eine Antwort sein?
Ich habe gefragt wo die Einnahmen durch eure Verkäufe sind weil ich sie in dem Bericht nicht finde.
Wo steht das jetzt, ich habe jetzt 2 mal durchgesucht, hab keine Lust mehr.
Gibt doch bitte mal wenigstens die Seite an.


Euer "EDV-Experte" hat übrigens immernoch nicht die News in Ordnung gebracht. Da steht immer noch der falsche Beitrag zur Überschrift.
04.05.2005 - Aqua Society-Gruppe liefert vier Großkälteanlagen
ins Reich der Mitte
http://www.aqua-society.com/news/pressemitt.html

Ich hätte jetzt gedacht mit dem "Reich der Mitte" ist China gemeint, aber vielleicht meint Aqua damit,- mitten im Gotthard. Dazu steht nämlich was in diesem Bericht, und nicht über China.
Man was sind da für Flaschen am Werk.

[westfale64]

Antwort auf Beitrag Nr.: 27.904.383 von krofisch am 22.02.07 18:03:09

Hier die Belege aus Aquas neuem Quartalsbericht (wörtlich übersetzt), die zeigen, dass Aqua noch nie ein eigenes Produkt verkauft gekriegt hat und dass die Initiatoren die Anlegermillionen mittels „management fees“ in die eigene Tasche verschieben. Auch die Belege für die sich ankündigende Insolvenz mangels Massesind dort zu lesen.



„We currently have eight full-time employees.“
Wörtlich übersetzt: Wir haben derzeit 8 Vollzeitangestellte.

Eine 8-Mann-Klitsche, die Millionen an die Gründer Hamm und Stamm verschiebt. Wofür ?




„As of September 30, 2006, the date of our most recently available financial statements, we had a working capital deficit of $2,059,410.“
Wörtlich übersetzt: Am 30.Sep.2006….hatten wir ein Arbeitskapitaldefizit von $2.059.410.

Der Laden ist also mit 2 Mio. überschuldet.





„The revenues that we earned during the year ended September 30, 2006 were earned from services that we provided and equipment sales in connection with HVAC&R“
Wörtlich übersetzt: Die Einnahmen, die wir bis zum30.Sep. 2006 hatten entstanden durch Service und Equipmentverkäufe in Verbindung mit HVAC&R.

Zur Erinnerung: Die Aktionäre bezahlen Herrn Hamm zweimal: Einmal mit den 20000 monatlichen Vorstandsbezügen und dann noch als Auftragnehmer (HVAC&R)
Der Beleg, dass Aqua weder mit „Aquamission“ noch mit „Thermomission“ oder „Energymission“ auch nur einen einzigen Euro eingenommen hat.





„Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products,“
Wörtlich übersetzt: Auch wenn wir Orders für Thermomobil,Aquamission und Energymission erhalten haben, haben wir noch keine Einnahmen durch den Verkauf eines dieser Produkte erhalten.

Wer soll den unbrauchbaren Quatsch auch kaufen ?



„We incurred management fees of $716,231 during the year ended September 30, 2006. Of this amount, $147,529 were paid to Stamm & Lang Rechtsanwalte, a German law firm of which Achim Stamm, our former Chief Financial Officer, Secretary, Treasurer and a former director, is a partner, pursuant to a management consulting contract. An additional $173,140 was paid to Stamm & Lang in lieu of notice upon termination of our agreement with them in February, 2006. Also included in management fees are amounts charged under a management consulting contract with Hubert Hamm, a managing director of Aqua GmbH, and the lead consultant for research and development for Aqua GmbH’s HVAC&R department.“
Wörtlich übersetzt: $716.231 wurden bis zum 30. Sep.2006 bezahlt. $147.529 davon wurden an Stamm und Lang Rechtsanwälte bezahlt, eine Kanzlei bei der Stamm, unser früherer CFO….. und früherer Direktor, Partner ist. Zusätzliche $173.140 wurden an Stamm und Lang…. im Feb.2006 bezahlt.Auch in den „management fees“ enthalten sind Zahlungen an Hubert Hamm….

Millionen für Hamm und Stamm. Daher die Verluste.



„Included in current liabilities are a total of $1,441,507 payable to a law firm of which, Achim Stamm, one of our former officers and directors, is a partner.“
Wörtlich übersetzt: Eingeschlossen sind Schulden/Verbindlichkeiten bei Stamm……in Höhe von $1.441.507.

Und noch ein Nachschlag für die Abzocker.




„As at September 30, 2006 we had cash in the amount of $187,432 and a working capital deficit of $2,059,410.“
Wörtlich übersetzt:Am 30.Sep.2006 hatten wir $187.432 cash auf dem Konto und ein Arbeitskapitaldefizit in Höhe von $2.059.410.

Klar, dass die Bude überschuldet ist: Nichts verkauft, aber die Aqua-Gründer stecken sich die Anlegermillionen ein.




„we have not yet achieved profitability. We anticipate that we will continue to incur losses for the foreseeable future“
Wörtlich übersetzt: Wir haben noch keinen Gewinn erzielt. Wir vermuten, dass wir auch in absehbarer Zukunft nur Verluste einfahren werden.


„We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability and we anticipate that we will continue to incur substantial losses in the foreseeable future.“
Wörtlich übersetzt: Wir haben keine ausreichenden finanziellen Resourcen um die erwarteten Kosten unseres Operationsplans und unsere Schulden/Verbindlichkeiten für die nächsten 12 Monate zu bezahlen.Wir haben noch keine Gewinne gemacht und vermuten, dass wir in absehbarer Zukunft auch weiterhin Verluste machen werden.

Aqua hat kein Geld um die nächsten 12 Monate zu überleben. Klar bei dieser Aktionärsabzocke.






Die abgezockten Aqua –Aktionäre sollten lieber die Quartalsberichte lesen, anstatt sich von den vielen Auftragsmärchen einlullen zu lassen. Dann wüssten sie, dass die Aqua-Gründer nur die folgenden Ziele verfolgen:
-Verkauf der 100 Mio. Altaktien dieser Abzockbude vor der Insolvenz
-Kassieren der happigen Vorstandsgehälter solange diese Bande das Märchen am Laufen halten kann
-Kassieren von unbegründbaren „management fees“ solange der Laden noch nicht insolvent ist.






Und dieser Millionenbesch… soll ohne Strafverfahren wegen Betruges enden ?

[krofisch]

Antwort auf Beitrag Nr.: 27.909.247 von westfale64 am 22.02.07 20:57:07

Nach den typischen sehr kreativen und merkwürdigen \\\'Übersetzungskünsten\\\' von \\\'Pinochio\\\' hier das Original:

http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

10QSB 1 form10qsb.htm QUARTERLY REPORT FOR THE PERIOD ENDED DECEMBER 31, 2006
--------------------------------------------------------------------------------

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-QSB

(Mark One)

[ X ] Quarterly Report Under Section 13 Or 15(d) Of The Securities Exchange Act Of 1934
For the quarterly period ended December 31, 2006

[ ] Transition Report Under Section 13 Or 15(d) Of The Securities Exchange Act
For the transition period from ________to ________

COMMISSION FILE NUMBER 000-50163

AQUA SOCIETY, INC.
(Exact name of small business issuer as specified in its charter)

NEVADA 52-2357931
(State or other jurisdiction of incorporation or (IRS Employer Identification No.)
organization)

Konrad - Adenauer Strasse 9-13
45699 Herten, Germany
(Address of principal executive offices)

011-49-6031-791-760
Issuer's telephone number

Not Applicable
Former name, former address and former fiscal year, if changed since last report

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 [ X ] No [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: As of February 20, 2007 the Issuer had 118,178,323 Shares of Common Stock outstanding.

Transitional Small Business Disclosure Format (check one): Yes [ ] No [X]

1


--------------------------------------------------------------------------------

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

2


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.

INTERIM CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2006

(Stated in US Dollars)

(Unaudited)


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED BALANCE SHEETS
December 31, 2006 and September 30, 2006
(Stated in US Dollars)
(Unaudited)

December 31, September 30,
ASSETS 2006 2006

Current
Cash $ 108,837 $ 187,432
Accounts receivable – trade 76,838 143,039
– other – Note 4 59,367 -
Government value added tax receivable 97,631 217,919
Inventory 332,389 306,569
Loans receivable 1 1

675,063 854,960
Investments – Note 3 2 2
Patents and patent rights 193,485 193,485
Equipment 53,811 65,343

$ 922,361 $ 1,113,790

LIABILITIES

Current
Accounts payable and accrued liabilities – Note 4 $ 527,018 $ 537,271
Loans payable – Notes 4 and 5 3,165,735 2,377,099

3,692,753 2,914,370

STOCKHOLDERS’ DEFICIENCY

Common stock, $0.001 par value – Notes 6 and 8
300,000,000 shares authorized
118,178,323 shares issued and outstanding (September 30, 2006:
118,178,323 shares) 118,179 118,179
Additional paid-in capital 28,690,854 28,609,612
Accumulated other comprehensive loss (246,705 ) (150,368 )
Accumulated deficit (31,332,720 ) (30,378,003 )

(2,770,392 ) (1,800,580 )

$ 922,361 $ 1,113,790

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Sales $ 25,441 $ 782,242
Less: cost of goods sold 580 593,010

24,861 189,232

General and administrative expenses:
Accounting and audit fees 73,443 57,121
Advertising and promotion 19,329 58,187
Amortization 5,899 6,584
Bad debts 28,431 43,685
Bank charges and interest 117 85
Consulting fees 36,634 177,085
Development costs – Note 4 268,919 412,455
Filing fees 867 121
Interest 57,256 57,088
Legal fees – Note 4 130,228 36,264
Management fees – Note 4 57,988 124,857
Office and miscellaneous 23,270 66,274
Rent 26,154 28,917
Salaries and benefits 154,052 96,888
Stock-based compensation 57,242 -
Transfer agent 225 815
Travel – Note 4 39,524 80,478
Write down of patents - 8,994
Write down of inventory - 63,928

(979,578 ) (1,319,826 )

Operating loss before other item (954,717 ) (1,130,594 )

Other item:
Interest income - 5,292

Net loss for the period (954,717 ) (1,125,302 )

Other comprehensive loss
Foreign currency adjustment (96,337 ) (2,551 )

Comprehensive loss for the period $ (1,051,054 ) $ (1,127,853 )

Basic loss per share $ (0.01 ) $ (0.01 )

Weighted average number of shares outstanding 118,178,323 115,771,988

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Cash flows used in Operating Activities
Net loss for the period $ (954,717 ) $ (1,125,302 )
Items not affecting cash:
Amortization 5,899 6,584
Stock-based compensation 57,242
Write-down of patents - 8,994
Write-down of inventory - 63,928
Interest imputed on loans payable 24,000 -
Changes in non-cash working capital items:
Accounts receivable 10,882 (126,415 )
Government value added tax receivable 126,004 12,329
Inventory (13,251 ) 9,748
Accounts payable and accrued liabilities (23,954 ) 526,835

(767,895 ) (623,299 )

Cash flows used in Investing Activities
Equipment disposal 5,634 48,178
Repayment of loans receivable - (68,388 )

5,634 (20,210 )

Cash flows from Financing Activity
Increase in loans payable 677,508 174,408

Effect of exchange rates on cash 6,158 (7,730 )

Decrease in cash during the period (78,595 ) (476,831 )

Cash, beginning of the period 187,432 658,949

Cash, end of the period $ 108,837 $ 182,118

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Capital stock issued for cash 1 $ 31,042 $ - - $ - $ - $ - $ 31,042
Contribution of assets - - 25,056 - - - - 25,056
Pursuant to the acquisition of Aqua
Society GmbH 10,000,000 10,000 - 34,000,000 34,000 - - 44,000
Exchange of shares (1 ) (31,042 ) - - - - - (31,042 )
Outstanding shares of Company
prior to acquisition 69,908,000 69,908 - - - - (194,748 ) (124,840 )
Unrealized loss on translation - - - - - (997 ) - (997 )
Net loss for the period - - - - - - (67,448 ) (67,448 )

Balance, September 30, 2004 79,908,000 79,908 25,056 34,000,000 34,000 (997 ) (262,196 ) (124,229 )

Issued for cash:
Pursuant to private placement - at $2.40 416,666 417 999,583 - - - - 1,000,000
- at $1.98 1,232,322 1,233 2,438,766 - - - - 2,439,999
Pursuant to exercise of options - at $1.70 215,000 215 365,285 - - - - 365,500
Conversion of special warrants 34,000,000 34,000 - (34,000,000 ) (34,000 ) - - -
Stock-based compensation - - 22,480,000 - - - - 22,480,000
Unrealized gain on translation - - - - - 89,594 - 89,594
Net loss for the year - - - - - - (25,787,558 ) (25,787,558 )

Balance, September 30, 2005 115,771,988 115,773 26,308,690 - - 88,597 (26,049,754 ) 463,306

Pursuant to private placement - at $1.04 1,160,960 1,161 1,206,237 - - - - 1,207,398
- at $0.88 1,245,375 1,245 1,094,685 - - - - 1,095,930
Unrealized loss on translation - - - - - (238,965 ) - (238,965 )
Net loss for the period - - - - - - (4,328,249 ) (4,328,249 )

Balance, September 30, 2006 118,178,323 118,179 28,609,612 - - (150,368 ) (30,378,003 ) (1,800,580 )

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

Continued

AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Stock-based compensation - - 57,242 - - - - 57,242
Unrealized loss on translation - - - - (96,337 ) - (96,337 )
Contribution of interest – Note 5 - - 24,000 - - - - 24,000
Net loss for the period - - - - - - (954,717 ) (954,717 )

Balance, December 31, 2006 118,178,323 $ 118,179 $ 28,690,854 - $ $ (246,705 ) $ (31,332,720 ) $ (2,770,392 )

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2006
(Stated in US Dollars)
(Unaudited)

Note 1 Interim Reporting

While information presented in the accompanying interim consolidated financial statements is unaudited, it includes all adjustments, which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented. All adjustments are of a normal recurring nature. The accompanying interim consolidated financial statements do not include all information and footnote disclosures required for an annual set of financial statements prepared under generally accepted accounting principles in the United States of America. The accompanying interim consolidated financial statements should be read in conjunction with the Company’s September 30, 2006 audited consolidated financial statements. Operating results from the period ended December 31, 2006 are not necessarily indicative of the results that can be expected for the year ending September 30, 2007.


Note 2 Nature and Continuance of Operations

These interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for the next twelve months. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. At December 31, 2006, the Company had not yet achieved profitable operations, has accumulated losses of $31,332,720 since its inception, has a working capital deficiency of $3,017,690 and expects to incur further losses in the development of its business, all of which casts substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations 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 considers that the Company will be able to obtain additional funds by equity financing and/or related party advances; however there is no assurance of additional funding being available.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 2
(Unaudited)

Note 3 Investments

i) UFI Tec GmbH

By an agreement dated November 30, 2004 and effective December 10, 2004, the Company acquired a 33% interest in UFI-Tech GmbH (“UFI”), a German limited company, for consideration of EUR 25,565 (US $32,476). During the year ended September 30, 2005, the Company wrote down the $32,476 investment and related loans receivable of $67,227 to their net realizable value of $1. During the year ended September 30, 2006, the Company sold 13.1% of their 33% interest (19.9% interest remains) for proceeds of EUR 10,072 (US $12,237) and wrote down an additional loan receivable of $66,094 to its net realizable value of $1.

ii) By an agreement dated February 18, 2006, the Company acquired a 51% interest in TMR GmbH (“TMR”), a German limited company, in consideration of EUR 12,750 (US $15,999). TMR is involved in the development, installation, distribution and management of renewable resources. At the date of acquisition, TMR had no business, assets or liabilities. During the year ended September 30, 2006, the Company wrote down its investment by $15,674 (EUR 12,749) to $1. During the three months ended December 31, 2006, the Company disposed of its interest in TMR for $1.

Note 4 Related Party Transactions – Note 7

The Company incurred the following amounts charged by directors of the Company, the brother of a director of the Company and a law firm of which a former director of the Company is a partner:

Three months ended
December 31,
2006 2005

Development costs $ 88,013 $ 191,595
Legal fees - 26,073
Management fees 57,988 124,857
Travel - 1,780

$ 146,001 $ 344,305

Accounts receivable – other includes $59,367 related to an advance to a former officer of the Company.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 3
(Unaudited)

Note 4 Related Party Transactions – Note 7 – (cont’d)

Included in accounts payable and accrued liabilities is $77,498 (September 30, 2006: $79,358) due to directors of the Company and a former director of the Company. These amounts are unsecured, non-interest bearing and have no specific terms for repayment.

Included in loans payable is $1,527,238 (September 30, 2006: $1,441,507) due to a law firm of which a former director of the Company is a partner.

Note 5 Loans Payable

Of the total loans outstanding at December 31, 2006, $950,886 (September 30, 2006: $883,822) bear interest at 7.5% per annum, are secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $773,403 (September 30, 2006: $743,675) are non-interest bearing, secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $1,319,261 (September 30, 2006: $634,276) are non-interest bearing, unsecured and due on demand, and $122,185 (September 30, 2006: $115,326) of loans payable bear interest of 7.5% per annum, are unsecured and are repayable on or before December 31, 2006. The loans due on or before December 31, 2006 were not repaid and are consequently in default. The company has imputed interest on the non-interest bearing loans at 10% per annum for a total of $24,000 during the three months ended December 31, 2006.

Note 6 Capital Stock – Note 8

Commitments:

Share Purchase Options

On December 21, 2006, the Company adopted a second stock incentive plan (the “2006 Stock Option Plan”) to provide incentives to employees, directors, officers and permitted consultants. The 2006 Stock Plan provides for the issuance of up to 7,000,000 options with a term to be determined by the plan administer or, if not so established, ten years. The maximum aggregate number of shares that may be optioned under the 2006 Stock Option Plan will be increased effective the first day of each of the Company’s fiscal quarters (“adjustment date”), beginning with the fiscal quarter commencing April 1, 2007 by an amount equal to the lesser of i) 15% of the outstanding shares on the first day of the applicable quarter less a) the number of shares of common stock that may be optioned and sold under the plan prior to the adjustment date and b) the number of shares of common stock that may be optioned and sold under any other stock option plan in effect as of the adjustment date or ii) such lesser number of shares of common stock as may be determined by the Board.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 4
(Unaudited)

Note 6 Capital Stock – Note 8 – (cont’d)

Commitments: – (cont’d)

Share Purchase Options – (cont’d)

A summary of the stock options outstanding as at December 31, 2006 and changes during the period is presented below:

Weighted
Average
Exercise
Shares Price

Options outstanding at September 30, 2006 7,535,000 $ 1.70
Granted 4,500,000 $ 0.40

Options outstanding at December 31, 2006 12,035,000 $ 1.21

Options exercisable at December 31, 2006 7,535,000

A summary of stock options outstanding at December 31, 2006, is as follows:

Exercise
Number Price Expiry Date

562,500 $0.40 April 1, 2009
562,500 $0.40 July 1, 2009
562,500 0.40 October 1, 2009
7,535,000 $1.70 October 15, 2009
562,500 $0.40 January 1, 2010
562,500 $0.40 April 1, 2010
562,500 $0.40 July 1, 2010
562,500 $0.40 October 1, 2010
562,500 $0.40 January 1, 2011

12,035,000

The Company used the Black-Scholes option pricing model to compute estimated fair value at each of the grant dates.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 5
(Unaudited)

Note 6 Capital Stock – Note 8– (cont’d)

Commitments – (cont’d)

Share Purchase Options – (cont’d)

The Black-Scholes option-pricing model requires the input of highly subjective assumptions including the expected price volatility. Changes in the subjective input assumptions can materially affect the fair value estimate and therefore the Black-Scholes model does not necessarily provide a reliable single measure of the fair value of the Company’s share purchase options.

The Company used the Black-Scholes option pricing model to compute the estimated fair value of the options granted during the three months ended December 31, 2006, based on the following assumptions:

Risk-free interest rate 4.84%
Dividend yield rate 0.00%
Price volatility 159.23%
Weighted average expected life of options 2.03 years
Weighted average fair value $0.36

The Company recognized stock-based compensation of $57,242 during the three months ended December 31, 2006.

Share Purchase Warrants

As at December 31, 2006, a total of 2,406,335 share purchase warrants exercisable into 2,406,335 common shares were outstanding as follows:

Exercise
Number Price Expiry Date

1,169,960 $1.30 February 9, 2008
1,245,375 $1.10 June 15, 2008

2,406,335


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 6
(Unaudited)

Note 7 Commitments

i) Lease Contracts

By four lease agreements dated September 30, 2004 and effective October 1, 2004, the Company entered into four lease contracts for the Company’s corporate head office. The leases require total payments of EUR 6,690 (US$8,826) per month. Two of the leases are effective until May 31, 2007 and the other two are effective until December 31, 2007. The leases will be automatically extended every year unless cancelled with six months advance notice.

Minimum future lease payments

September 30, 2007 $ 80,960
2008 12,144

$ 93,104

ii) Management/Consulting Contracts


a) By a management consulting contract dated September 30, 2004 and effective October 1, 2004, the Company’s subsididary (“GmbH”) agreed to pay EUR15,000 (US $19,789) per month to a managing director of GmbH for development, production and quality assurance services. The managing director of the GmbH is also a director of the Company. This contract is for an unlimited term but may be terminated by either party with six months advance notice.


b) By a consulting agreement dated October 1, 2004, the Company agreed to pay $2,000 per month to a consultant of the Company. The agreement is effective for a term of 5 years. The Company granted 500,000 common stock options upon signing of the agreement. The exercise price of the stock options is $1.70 per share and expires on October 15, 2009.


c) By a management consulting contract dated and effective October 1, 2004, the Company agreed to pay EUR 5,000 (US$6,274) per month for marketing and business development services. Effective October 1, 2005, the contract was amended to increase the payment to EUR 7,500 (US $9,411) per month. Effective October 1, 2006, the contract was amended to EUR 15,000 (US$19,028) per month for October, November and December, 2006. By an agreement dated November 1, 2006 and effective January 11, 2007, the Company agreed to the payment of EUR 2,000 (US $2,638) per month until December 31, 2007 and a 5% commission of gross sales to third parties which occurred as a result of the consultant’s work. The contract automatically renews for one year if not terminated at the end of a year by giving six months advance notice.



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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 7
(Unaudited)

Note 7 Commitments – (cont’d)

ii) Management/Consulting Contracts – (cont’d)

d) By a management consulting contract dated and effective January 1, 2005, the GmbH agreed to pay EUR 5,520 (US $7,002) per month for marketing, sales and distribution services. By an agreement dated November 10, 2006 and effective January 1, 2007, the contract was amended to decrease the payment to EUR 3,750 (US $4,947) per month with additional payments of EUR 10,000 (US $12,686) and EUR 5,000 (US$6,343) in November and December 2006 respectively. The contract ends on December 31, 2007 and may be terminated by either party with three months advance notice.

e) By a management consulting agreement dated August 1, 2005, the GmbH agreed to pay EUR 3,900 (US $5,145) per month for administration services for the research and development department. The contract is for an unlimited term and may be terminated by either party by giving six months advance notice.

f) By a management consulting contract dated December 12, 2005 and effective January 1, 2006, the GmbH agreed to pay EUR 20,000 (US $25,371) per month to March 31, 2006 and EUR 25,000 (US $31,714) per month to December 31, 2006 for technical services. Effective September 18, 2006, the contract was amended and the payment was decreased to EUR 10,000 (US$ 12,686) per month and extended to June 30, 2007. The management consulting contract is with a company owned by a director of the Company.

g) By a management consulting contract dated November 10, 2004, the Company agreed to pay EUR 500 (US $660) per press release to a former director of the Company. This contract is for an unlimited term but may be terminated by either party with one month advance notice.

h) By management consulting agreements dated December 28, 2006, the Company agreed to pay directors of the Company a total of EUR 56,000 (US $73,879) for the period October 1, 2006 to December 31, 2006 and EUR 14,000 (US $18,470) per month for the period January 1, 2007 to September 30, 2007. The contract is for an unlimited term but may be terminated by either party with three months advance notice.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 8
(Unaudited)

Note 8 Subsequent Event

Subsequent to December 31, 2007, the Company approved a private placement offering of 7,500,000 units at $0.30 per unit with each unit consisting of one share of the Company’s common stock and one-half share purchase warrant for total proceeds of $2,250,000. Each share purchase warrant entitles the holder to purchase one additional share of the Company’s common stock at $0.35 per share for a period of one year from the date of issuance of the units.


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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this Quarterly Report constitute "forward-looking statements". These statements, identified by words such as “plan”, "anticipate," "believe," "estimate," "should," "expect" and similar expressions include our expectations and objectives regarding our future financial position, operating results and business strategy. These statements reflect the current views of management with respect to future events and are subject to risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from those described in the forward-looking statements. Such risks and uncertainties include those set forth under the caption "Management's Discussion and Analysis or Plan of Operation" and elsewhere in this Quarterly Report. We do not intend to update the forward-looking information to reflect actual results or changes in the factors affecting such forward-looking information. We advise you to carefully review the reports and documents we file from time to time with the United States Securities and Exchange Commission (the “SEC”), particularly our Annual Reports on Form 10-KSB and our Current Reports on Form 8-K.

As used in this Quarterly Report, the terms "we", "us", "our", “the Company” and “Aqua Society” mean Aqua Society, Inc. unless otherwise indicated. All dollar amounts in this Quarterly Report are in U.S. dollars unless otherwise stated.

INTRODUCTION

The following discussion and analysis summarizes our plan of operation for the next twelve months, our results of operations for the three month period ended December 31, 2006 and changes in our financial condition from September 30, 2006. This discussion should be read in conjunction with the Management’s Discussion and Analysis or Plan of Operation included in our Annual Report on Form 10-KSB for the year ended September 30, 2006.

We were incorporated under the laws of the State of Nevada on March 2, 2000, under the name “V G Tech, Inc.”

On September 22, 2004, we completed the acquisition of Aqua Society GmbH (“Aqua GmbH”). Prior to our acquisition of Aqua GmbH, we were in the business of providing services in the areas of digital graphics and special effects. Upon completing the acquisition of Aqua GmbH, we abandoned this digital imaging business. We are now in the business of designing and developing applied technologies, and providing consulting services, in the areas of heating, ventilation, air conditioning, refrigeration, water purification, waste water treatment, and, our latest business segment, energy (collectively, the “Aqua Business”).

Effective December 27, 2004, we changed our name to “Aqua Society, Inc.” to better reflect the nature of our current business operations

Recent Corporate Developments

The following significant corporate developments have occurred since our fiscal year ended September 30, 2006:

1. After the completion of our 2006 fiscal year, we completed the construction of a demonstration prototype of our EnergyMission / Yellow Box technology. A media event to showcase this demonstration model was held at our facilities on December 21, 2006. This demonstration unit will be used by us for marketing and demonstration purposes as well as for research and development.


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2. On December 21, 2006, our Board of Directors approved and adopted our 2006 Stock Option Plan (the “2006 Option Plan”). Under the 2006 Option Plan, options may be granted for a maximum of 7,000,000 shares of our common stock. The maximum number of shares that may be optioned under the 2006 Option Plan will increase each fiscal quarter, beginning with the fiscal quarter commencing April 1, 2007, by an amount equal to 15% of the total increase in the number of shares of common stock outstanding or such lesser amount as may be determined by our Board of Directors.


A summary of our 2006 Option Plan is set forth in our Current Report on Form 8-K filed with the SEC on December 29, 2006. The full text of the 2006 Option Plan is attached as Exhibit 10.1 to our Current Report on Form 8-K filed with the SEC on December 29, 2006, and is incorporated by reference herein.


3. Also on December 21, 2006, our Board of Directors approved the grant of options under the 2006 Option Plan for 2,500,000 shares of our common stock at an exercise price of $0.40 per share to Mr. Terberg and options to purchase an aggregate of 2,000,000 shares of our commons stock to Mr. van der Zee, also at a price of $0.40. The options granted to each of Mr. Terberg and Mr. van der Zee vest in equal quarterly instalments, commencing on April 1, 2007 and expiring 2 years after the applicable vesting date.


Changes to the Board of Directors and Executive Officers

In addition to the above corporate developments, there have been a number of changes to our Board of Directors and executive officers since the end of our 2006 fiscal year.

Effective October 31, 2006, Robert Terberg replaced Petrus Lodestijn as our Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary and also as a member of our Board of Directors. Also effective on October 31, 2006, our Board of Directors was expanded by the appointment of Hubert Hamm as a director of the Company and by the appointment of Hugo van der Zee as the Chairman of the Company’s Board of Directors.

PLAN OF OPERATION

During the next twelve months, we will focus: (1) on the design and construction of products ordered from us; (2) on further developing the market for our products; and (3) on continuing to develop and improve our products. Specifically, our plan of operation for the next twelve months involves the following:

1. Design and Construction of Ordered Units: During the next twelve months, we will work on the design and construction of the waste heat power generation, AquaMission and ThermoMobil units for which we have received orders.


2. Market Development Activities: Over the next twelve months we intend to do the following in an effort to continue developing a market for our products and services:


(a) We have completed the construction of a prototype EnergyMission / Yellow Box unit that we will use for marketing and demonstration purposes, as well as for ongoing research and development. The prototype unit will be used by us to demonstrate the effectiveness of our technology to trade media and industry representatives on an ongoing basis.


(b) We are also in the process of setting up a wholly owned subsidiary in the Netherlands (the “Dutch Subsidiary”), through which we will seek to promote all of our products in the “Benelux” countries (Belgium, the Netherlands and Luxemberg). In addition, we intend to use the Dutch Subsidiary to establish an additional production facility to be located in


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the Netherlands. This production facility is expected to enable us to significantly expand our production capabilities from the limited facilities located in Herten, Germany. The Dutch Subsidiary is expected to be based in Zevenaar, near Arnhem, in the east of the Netherlands.


(c) We will continue to attempt to market the AquaMission combined air-conditioning and drinking water product in geographic locations with high ambient temperatures and relative humidity but without readily available sources of fresh water, such as the Persian Gulf and the Middle East. Three demonstration models of the AquaMission are currently on location in the Middle East. We are currently in the process of seeking new sales agents for our products in the Middle East.


We will continue to try and generate sales in the Middle East using these demonstration models.


In addition to these activities, we may also seek to increase brand awareness through various advertising activities and sponsorships.

3. Product Development Activities: During the next twelve months, we will also continue to work on further developing and improving our existing products in an effort to increase their marketability. As part of these efforts, we have developed and built a demonstration model of our Yellow Box technology.


We are also in the process of constructing a high-tech “climate room” that will allow us to simulate the world’s various humidity and temperature zones. This “climate room” will assist us in optimizing our AquaMission unit for different geographic locations.


We anticipate spending approximately $2,000,000 in pursuing our plan of operation over the next twelve months. As of December 31, 2006, the date of our most recently available financial statements, we had a working capital deficit of $3,017,690. As such, we do not have sufficient working capital to meet our expected needs over the next twelve months. Although we have recently begun to earn revenues, we have not yet earned a net profit and we do not expect to achieve profitability in the near future as we expect to continue to incur substantial product development, marketing and operating expenses. We are likely to continue to need substantial additional financing in order to implement our plan of operation. Our management expects that any additional financing that we obtain will likely be in the form of equity financing.

Our actual expenditures and business plan may differ from the one stated above. Our Board of Directors may decide not to pursue this plan. In addition, we may modify the plan based on available financing.

RESULTS OF OPERATIONS

First Quarter Summary

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Revenue $25,441 $782,242 (96.7)%
Cost of Goods Sold (580) (593,010) (99.9)%
General and Administrative Expenses (979,578) (1,319,826) (25.8)%
Other Items Nil (5,292) (100.0)%
Net Loss $(954,717) $(1,125,302) (15.2)%

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Revenues

During our last fiscal year, we earned revenues from HVAC&R and energy optimization consulting services, and from equipment sales made in connection with the provision of those services. However, we do not have a long-term history of earning revenues and, as a result, we are unable to accurately forecast future revenues. Readers are cautioned that our past operating results may not be indicative of future performance.

During the fiscal year ended December 31, 2006, our revenue decreased by 96.7% as compared to the same period ended in 2005. Since their appointment in October, 2006, our new executive officers and directors have been conducting a company wide review of our operations. During this period, we scaled back our HVAC&R and energy optimizing consulting activities. As a result, our revenues decreased substantially.

During the next twelve months, we intend to concentrate our resources on developing the market for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, as we believe that these products will provide us with the greatest opportunity for future profitability. As a result, we may continue to scale back the HVAC&R and energy optimization consulting services that we have provided in the past.

Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products, and there are no assurances that we will be able earn such revenues in the future.

Operating Costs and Expenses

Our operating expenses for the quarterly period ended December 31, 2006 consisted of the following:

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Accounting and audit fees $73,443 $57,121 28.6%
Advertising and promotion 19,329 58,187 (66.8)%
Amortization 5,899 6,584 (10.4)%
Bad debts 28,431 43,685 (34.9)%
Bank charges and interest 117 85 37.6%
Consulting fees 36,634 177,085 (79.3)%
Development costs 268,919 412,455 (34.8)%
Filing fees 867 121 616.5%
Interest 57,256 57,088 0.3%
Legal fees 130,228 36,264 259.1%
Management fees 57,988 124,857 (53.6)%
Office and miscellaneous 23,270 66,274 (64.9)%
Rent 26,154 28,917 (9.6)%
Salaries and benefits 154,052 96,888 (59.0)%
Stock-based compensation 57,242 Nil 100.0%
Transfer agent 225 815 (72.4)%

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Travel 39,524 80,478 (50.9)%
Write down of patents Nil 8,994 (100.0)%
Write down of inventory Nil 63,928 (100.0)%
Total General and Administrative Expenses $979,578 $1,319,826 (25.8)%

Our general and administrative expenses decreased by $340,248, or 25.8%, during the three month period ended December 31, 2006 as compared to 2005. This decrease in our general and administrative expenses was primarily generated as a result of the efforts of our current management to streamline our operations. During the next few months, we expect that our general and administrative expenses will continue to fluctuate somewhat as we continue to review and overhaul our current operations.

Management fees decreased by $66,869, or 53.6%, during the quarter ended December 31, 2006, primarily because of the termination of a management services contract under which we had been obligated to pay management fees of EUR 20,000 per month to a law firm of which a former officer and director is a partner. Also, during the last fiscal quarter, we scaled back some of our product development activities as our management conducted a company wide assessment of our operations. As a result, development costs, and consulting fees associated with our development activities, also decreased significantly during our last fiscal quarter. Office and travel expenses also decreased primarily as a result of our efforts to streamline our operations. Also contributing to the overall decrease in our general and administrative expenses from the quarter ended December 31, 2005 was the fact that, during our December 31, 2005 fiscal quarter, we recognized one-time patent and inventory write down charges totaling $72,922. No patent or inventory write down charges were recognized for the period ended December 31, 2006.

Offsetting the above decreases were significant increases in accounting and audit fees, legal fees and salaries and benefits. The increase in legal fees relates primarily to amounts incurred in connection with the negotiation of our patent licensing agreement with Ecoenergy Patent GmbH and in connection with the restructuring of our operations by our new management. The events giving rise to the additional amounts spent on legal fees are not expected to be ongoing. Accounting and auditing fees increased as a result of an increase in the amounts charged by our consulting accountants and by our independent auditors. The increase in salaries and benefits was a result of the hiring of two additional non-management employees.

Also, during the period ended December 31, 2007, we recorded stock-based compensation expenses of $57,242 on account of stock options granted to certain of our officers and directors during the period. No options or other stock-based compensation were granted during the period ended December 31, 2005.

LIQUIDITY AND CAPITAL RESOURCES

Working Capital

At At Percentage
December 31, 2006 September 30, 2006 Increase / (Decrease)
Current Assets $675,063 $854,960 (21.0)%
Current Liabilities (3,692,753) (2,914,370) 26.7%
Working Capital Surplus (Deficit) $(3,017,690) $(2,059,410) 46.5%

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Included in current liabilities are a total of $1,527,238 payable to a law firm of which one of our former officers and directors, is a partner. We are currently in negotiations with the former officer and director for the settlement of the amounts owed to him and his law firm.

Cash Flows

Three Months Ended December 31
2006 2005
Cash Flows used in Operating Activities $(767,895) $(623,299)
Cash Flows used in Investing Activities 5,634 (20,210)
Cash Flows from Financing Activities 677,508 174,408
Effects of Foreign Exchange Rates 6,158 (7,730)
Net Decrease in Cash During Period $(78,595) $(476,831)

During the period ended December 31, 2006, we obtained financing in the form of a EUR 500,000 loan. This loan is unsecured, non-interest bearing and payable upon demand.

Total loans payable at December 31, 2006 consist of the following amounts:

(a) $950,886, bearing interest at a rate of 7.5% per annum, secured by accounts receivable and repayable on or before December 31, 2006;


(b) $773,403, non-interest bearing, secured by accounts receivable and repayable on or before December 31, 2006;


(c) $122,185, bearing interest a rate of 7.5% per annum, unsecured and payable on or before December 31, 2006; and


(d) $1,319,261, non-interest bearing, unsecured and due on demand.


The amounts payable on or before December 31, 2006 have not yet been repaid and are past due. We are currently in negotiations with our creditors for the settlement and repayment of amounts owed to them.

As at December 31, 2006 we had cash in the amount of $108,837 and a working capital deficit of $3,017,690. We anticipate spending approximately $2,000,000 over the next 12 months in pursuing our plan of operation. We will require substantial additional financing in the next few months in order to pursue our current plan of operation.

Although we earned revenues during our fiscal year ended September 30, 2006, we did not earn significant revenues during the fiscal quarter ended December 31, 2006 and we have not yet achieved profitability. Our future financial results are uncertain due to a number of factors, many of which are outside of our control. These factors include, but are not limited to:

(a) our ability to commercially market our ThermoMobil and AquaMission products;


(b) our ability to develop a commercially marketable EnergyMission/Yellow Box product;


(c) our ability to raise additional capital necessary to implement our business strategy and plan of operation;


(d) our ability to compete with other existing technologies; and


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(e) the success of any marketing and promotional campaign which we conduct for our products once development is complete.


Due to the uncertainty regarding our future revenues and profitability, we expect that the majority of additional financing that we obtain, if any, will likely be in the form of equity financing. Our management does not expect sufficient debt financing to be available to us through traditional sources at this stage of our business.

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 are material to our stockholders.

CRITICAL ACCOUNTING POLICIES

The preparation of financial statements in conformity with generally accepted accounting principles requires our management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Our management routinely makes judgments and estimates about the effects of matters that are inherently uncertain.

We have identified certain accounting policies, described below, that are most important to the portrayal of our current financial condition and results of operations. Our significant accounting policies are disclosed in Note 3 to the interim financial statements included in this Quarterly Report.

Principles of Consolidation

The consolidated financial statements include the accounts of Aqua Society, Inc and our wholly owned subsidiary, Aqua Society GmbH, a German limited liability company (“Aqua GmbH”). All inter-company transactions have been eliminated.

Foreign Currency Translation

Our functional currency is United States dollars. Our subsidiary, Aqua GmbH, uses the Euro as its functional currency. Accordingly, assets and liabilities of Aqua GmbH are translated into US dollars at the exchange rate in effect at the balance sheet date and capital accounts are translated at historical rates. Income statement accounts are translated at the average rates of exchange prevailing during the period. Translation adjustments arising from the use of differing exchange rates from period to period are included in the Accumulated Other Comprehensive Gain/(Loss) account in Stockholders’ Equity.

Transactions undertaken in currencies other than the functional currency of the entity are translated using the exchange rate in effect as of the transaction date. Any exchange gains and losses would be included in the Statement of Operations.

Patents, Patent Rights and Amortization

Patents and patent rights are recorded at cost. We provide for the amortization of patents and patent rights on the straight-line basis over their estimated economic lives, estimated to be 5 years. Amortization is recorded upon the patents being awarded.

9


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RISKS AND UNCERTAINTIES

Need For Financing

We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability. We are likely to continue to need substantial additional financing in order to implement our long term business plan. There is no assurance that we will be able to acquire sufficient financing on terms acceptable to us or at all. If financing is not available or obtainable, our ability to meet our financial obligations and pursue our plan of operation will be substantially limited and investors may lose a substantial portion or all of their investment

Limited Operating History, Risks Of A New Business Venture

We are still in the process of developing our business and have only recently begun to earn revenues. Readers are cautioned that our past results may not be indicative of future performance.

Potential investors should be aware of the difficulties normally encountered by a new enterprise and the high rate of failure of such enterprises. The potential for future success must be considered in light of the problems, expenses, difficulties complications and delays encountered in connection with the development of a business in the area in which we intend to operate and in connection with the formation and commencement of operations of a new business in general. These include, but are not limited to, unanticipated problems relating to research and development programs, marketing, approvals by government agencies, competition and additional costs and expenses that may exceed current estimates. There is no history upon which to base any assumption as to the likelihood that we will prove successful, and there can be no assurance that we will ever achieve profitable operations.

If We Are Unable To Achieve Market Acceptance For Our Products, We Will Be Unable To Build Our Business

To date, we have completed technical development of our EnergyMission/Yellow Box, ThermoMobil and AquaMission products. However, we have only received a limited number of confirmed orders for these products. Our future success will depend upon the acceptance of our existing products, and other products that we develop, by the respective industries in which we intend to market those products. Achieving such acceptance will require significant investments in research and development and market development. The technologies upon which our products and services are based are relatively new and are evolving. Accordingly, in order to achieve commercial acceptance, we will have to educate prospective clients about the uses and benefits of our products.

Even If We Are Able To Develop A Commercial Market For Our Products, We May Not Have The Ability To Meet The Demand For Those Products

We intend to complete the construction of the initial AquaMission, ThermoMobil and EnergyMission/Yellow Box units ordered from us at our facilities located in Herten, Germany. However, the size of these facilities is limited.

We are currently in the process of establishing a wholly owned subsidiary in the Netherlands, with which we intend to establish a larger scale production facility. Further, we intend to seek supply contracts and/or joint venture/licensing agreements with independent manufacturing companies to manufacture our products on a large scale basis, however we have not yet entered into any such contracts or agreements.

Our Operations May Be Subject to Extensive Government Regulation

Our operations may be subject to extensive government regulations in the United States, Europe and elsewhere. In order to sell our products, we may have to satisfy numerous mandatory procedures,

10


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regulations, and safety standards established by international, federal and state regulatory agencies. Although we currently comply with stringent German regulations, there can be no assurance that we can successfully comply with all present and future government regulations worldwide.

Risks of International Business Operations

Although we are incorporated in the United States, the majority of our operating activities are conducted in Germany. Additionally, in the past, we have targeted markets for our products in the Persian Gulf and other developing parts of the world, such as Africa. As such, a significant portion of our business depends upon our ability to establish and maintain successful relationships with businesses and governments located outside of the United States. If we are unable to establish and maintain such relationships, we may not be able to implement our business plan or plan of operations.

In order to better manage the risks associated with our international operations, our management has decided to focus their business development efforts on markets near to our base of operations, such as Germany, the Netherlands and the rest of Europe.

Rapid Technological Changes In Our Industry Could Make Our Products Obsolete

The industry in which we intend to compete is characterized by rapid technological change and intense competition. New technologies, products and industry standards will develop at a rapid pace which could make our planned products obsolete. Our future success will depend upon our ability to develop and introduce product enhancements to address the needs of our customers.

Asserting And Defending Intellectual Property Rights May Impact Results Of Operations

The success of our business may depend on our ability to successfully defend our intellectual property rights. Future litigation may have a material impact on our financial condition even if we are successful in developing and marketing products. We may not be successful in defending or asserting our intellectual property rights.

An adverse outcome in any litigation or interference proceeding could subject us to significant liabilities to third parties and require us to cease using the technology that is at issue or to license the technology from third parties. In addition, a finding that any of our intellectual property rights are invalid could allow our competitors to more easily and cost-effectively compete. Thus, an unfavorable outcome in any patent litigation or interference proceeding could have a material adverse effect on our business, financial condition or results of operations.

The cost to us of any patent litigation or interference proceeding could be substantial. Uncertainties resulting from the initiation and continuation of patent litigation or interference proceedings could have a material adverse effect on our ability to compete in the marketplace. Patent litigation and interference proceedings could also absorb significant management time.

We May Be Subject To Product Liability Lawsuits

We may be subject to product liability claims. Such claims may absorb significant management time and could degrade our reputation and the marketability of our products. If product liability claims are made with respect to our products, we may need to recall the implicated product which could have a material adverse effect on our business, financial condition and results of operations. In addition, although we may maintain product liability insurance, we cannot be sure that such insurance will be adequate to cover potential product liability lawsuits. Insurance is expensive and in the future may not be available on acceptable terms, if at all. If a successful product liability claim or series of claims exceeds insurance coverage, it could have a material adverse effect on our business, financial condition and results of operations.

11


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If We Are Late In Filing Any Of Our Annual Or Quarterly Reports During The Next Two Years, Our Common Stock May Become Ineligible For Quotation On The OTC Bulletin Board, Which Would Negatively Affect The Market For Our Shares And Our Ability To Obtain Additional Financing.

On November 16, 2005, the SEC approved certain changes to NASD Rule 6530. As amended, NASD Rule 6530 provides that OTC Bulletin Board (“OTCBB”) issuers who are late in filing their annual or quarterly reports three times within a 24-month period will be ineligible for quotation on the OTCBB. In order to regain eligibility under this rule, the issuer would need to timely file all of its annual and quarterly reports due in a one year period. The amended NASD Rule 6530 does not apply to annual or quarterly reports for periods ended before October 1, 2005.

From time to time, we have been late in filing our quarterly and annual reports. If we are late in filing our annual or quarterly reports three times within a 24-month period, we may become ineligible for quotation on the OTCBB, which would negatively affect the market for our common stock. In addition, if our common stock is no longer eligible for quotation on the OTCBB, it may become more difficult for us to obtain additional equity financing as shares of our common stock will be less attractive to potential investors.

ITEM 3. CONTROLS AND PROCEDURES.

Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as of the end of the period covered by this report. Based on that evaluation, our principal executive officer and principal financial officer has concluded that our disclosure controls and procedures were not effective as we failed to timely file our periodic reports with the SEC on a number of occasions during the past fiscal year.

Our new management is in the process of taking measures to improve our disclosure controls and procedures in an effort to ensure that the information required to be disclosed is internally communicated and publicly reported within the time periods specified in the SEC’s rules and forms. In particular, we intend to engage outside consultants to assist us in the preparation of our accounting records and financial statements and will attempt to increase internal accountability and to clearly define internal communication channels in an effort to remedy the deficiencies identified by our principal executive officer and principal financial officer.

By working with our external consultants and our principal independent accountants, our management believes that the financial statements and the other information presented in this Quarterly Report are materially correct.

There were no changes in our internal control over financial reporting during the last fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

12


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PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

None.

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

All unregistered sales of our equity securities completed during our fiscal quarter ended December 31, 2006 have been previously reported in the Quarterly Reports on Form 10-QSB and Current Reports on Form 8-K that we filed during that period.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

None.

ITEM 5. OTHER INFORMATION.

Compensatory Arrangements Of Certain Officers

Effective December 28, 2006, we entered into management consulting services agreements with each of Robert Terberg, our current Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary, and currently a member of our Board of Directors, and Hugo van der Zee, currently the Chairman of our Board of Directors. The terms of our agreements with Mr. Terberg and Mr. van der Zee are disclosed in our Annual Report filed with the SEC on January 16, 2007.

ITEM 6. EXHIBITS.

Exhibit
Number Description of Exhibit
3.1 Restated Articles of Incorporation filed with the Nevada Secretary of State effective December 27, 2004.(5)
3.2 Bylaws, effective March 2, 2000.(1)
10.1 Share Purchase Agreement between Water-Capital-Holding Ltd., V G Tech, Inc., Aqua Society GmbH and Steve Livingston, dated for reference September 3, 2004.(2)
10.2 Agreement and Deed of Transfer between Water-Capital-Holding Ltd. and V G Tech, Inc. dated for reference September 22, 2004.(3)
10.3 Certified Translation of a Notarial Deed executed by Uwe Diestel and Aqua Society GmbH dated November 30, 2004 regarding the purchase and sale of an interest in UFI-TEC GmbH.(5)
10.4 2004 Stock Incentive Plan.(4)

13


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Exhibit
Number De

[krofisch]

Antwort auf Beitrag Nr.: 27.908.511 von wohinistmeinGeld am 22.02.07 20:29:20

Nicht wieder Ablenken - \\\\'LÜGE\\\\' endlich zugeben!


Auf der Homepage habt ihr die Meldung über die Machbarkeitsstudie mit Coca Cola vom 20.10.05 ja gelöscht,

Ein Schelm ist, wer dies für eine \\\\'wohinistmeinGeld-Lüge\\\\' hält.

Ich habe die News auf der AQUA-Homepage gefunden:

unter
Meldungen
Aqua Society führt für Coca-Cola India eine Machbarkeitsstudie zur Wassergewinnung aus der Luft durch

- 20. Oktober 2005

Die Aqua Society, Inc. plant für Coca-Cola India

Was kannst du eigentlich?
Nicht mal einen Link richtig anklicken?
Oder: Brille Fielmann!

[Borealis]

Na Krofisch, dann erklär uns doch mal den Quartalsbericht.
Hat Aqua wieder seine Umsatzplanung übertroffen?
Wann bekommt Meister Stamm sein Geld, und wo soll das herkommen?

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.940.969 von krofisch am 24.02.07 12:05:31

ich hab es immer noch nicht gefunden,
krofischchen hilf mir doch mal weiter:

wo steht denn das mit Rotes Kreuz und Elfenbeinküste die doch diesen Prototypen der Wassermaschine bestaunt haben und dann was gekauft haben?

Wo stehen denn die Einnahmen von Alstom Marine für die Abwasseraufbereitungsanlage?

Wo finde ich jetzt wieviele der 15 Thermomobile für Südostasien und Golfregionen inzwischen verkauft sind und die Einnahmen dazu?

Wo sind die Einnahmen der Geschäfte mit der UN?

Ich kann einfach nicht die Einnahmen, die durch die Vermittlung durch TSC im Jemen entstanden, finden.

Hat Coca Cola Indien inzwischen was gekauft? Ich kann die Einnahmen nicht finden. Oder stehen irgendwo wenigstens die Ergebnisse der Machbarkeitsstudie?

Wieviel wurde inzwischen durch die Wohnanlage in Indien eingenommen?

Warum bezahlt Loick die Anlage die ihr geliefert habt nicht, oder finde ich nur nicht wo die Einnahmen aufgeführt sind?
Schreib doch mal bitte wo diese Einnahmen stehen.

[Keatanu]

!

Dieser Beitrag wurde vom System automatisch gesperrt. Bei Fragen wenden Sie sich bitte an [e-mail]

[Leichtmatrose]

Antwort auf Beitrag Nr.: 27.940.969 von krofisch am 24.02.07 12:05:31

Das übliche Fischgepöbel

Nach den typischen sehr kreativen und merkwürdigen \\\\'Übersetzungskünsten\\\\' von \\\\'Pinochio\\\\' hier das Original

Der westfale hat doch nur aus dem letzten Jahresbericht und nicht aus dem letzten Quartalsbericht korrekt zitiert. Was ist denn daran verwerflich?

Etwa, dass das Working Capital Deficit von $-2.059.410 auf $-3,017,690 angestiegen ist?

Und:
Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products, and there are no assurances that we will be able earn such revenues in the future.

Wörtlich übersetzt: Auch wenn wir Orders für Thermomobil,Aquamission und Energymission erhalten haben, haben wir noch keine Einnahmen durch den Verkauf eines dieser Produkte erhalten (Übersetzung westfale)
Den Rest des Satzes darf der Fisch selbst übersetzen und den lachhaften Rest des aktuellen Quartalsberichtes ebenso.

[krofisch]

Antwort auf Beitrag Nr.: 27.945.217 von wohinistmeinGeld am 24.02.07 18:01:43

ich hab es immer noch nicht gefunden,

Wenn du nicht einmal mehr selber deine eigenen Postings findest, solltes du mal zum Arzt gehen.

[krofisch]

Antwort auf Beitrag Nr.: 27.952.205 von Leichtmatrose am 25.02.07 03:44:07

nur aus dem letzten Jahresbericht und nicht aus dem letzten Quartalsbericht

Ist er etwa etwas zurückgeblieben in seinem Wissen?

[krofisch]

Antwort auf Beitrag Nr.: 27.945.813 von Keatanu am 24.02.07 19:37:35

wirst Du auch immer dumm wie Brot bleiben, Du Inkarnation der penetranten Verblödung.




Tust du mir aber leid!

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.955.817 von krofisch am 25.02.07 13:13:15

da du ja behauptest, daß westfale falsch übersetzt und falsche Zahlen postet, dann poste du mal bitte die Auszüge mit deiner Übersetzung!!

[Leichtmatrose]

Antwort auf Beitrag Nr.: 27.955.866 von krofisch am 25.02.07 13:14:54

Die Frage war, wie dieser in jedem Geschäftsbericht in ähnlicher Form wiederkehrende Satz zu übersetzen sei.
Das Satzende

….and there are no assurances that we will be able earn such revenues in the future.

möchte ich in freier Interpretation so formulieren:
....und es wird mit Sicherheit auch in Zukunft unmöglich sein, mit diesen Luftnummern irgendwelche Umsätze zu erzielen.


In Erwartung der korrekten Fischübersetzung verbleibe ich
Ihr ergebenster
Leichtmatrose
pipapo blablabla....

[krofisch]

Antwort auf Beitrag Nr.: 27.957.024 von wohinistmeinGeld am 25.02.07 13:59:58

Nicht wieder Ablenken - \\\\\'LÜGE\\\\\' endlich zugeben!


Auf der Homepage habt ihr die Meldung über die Machbarkeitsstudie mit Coca Cola vom 20.10.05 ja gelöscht,

Ein Schelm ist, wer dies für eine \\\\\'wohinistmeinGeld-Lüge\\\\\' hält.

Ich habe die News auf der AQUA-Homepage gefunden:

unter
Meldungen
Aqua Society führt für Coca-Cola India eine Machbarkeitsstudie zur Wassergewinnung aus der Luft durch

- 20. Oktober 2005

Die Aqua Society, Inc. plant für Coca-Cola India

Was kannst du eigentlich?
Nicht mal einen Link richtig anklicken?
Oder: Brille Fielmann!

[krofisch]

Antwort auf Beitrag Nr.: 27.960.404 von Leichtmatrose am 25.02.07 16:18:42

Leichtmatrose
pipapo blablabla....

[krofisch]

Antwort auf Beitrag Nr.: 27.957.024 von wohinistmeinGeld am 25.02.07 13:59:58

Alle lachen lieber deine Postings:

von wohinistmeinGeld (10.07.04 23:54:21)
betrifft Aktie: BAVARIAN NORDIC AS
wo mein Geld ist weiß ich übrigens trotzdem nicht, ich weiß nur das es weg ist

von wohinistmeinGeld (06.07.04 22:55:21)
betrifft Aktie: BAVARIAN NORDIC AS
... Ich bin schon oft genug darauf reingefallen, ich glaube es wird Zeit zu kündigen. Was treiben die eigentlich den ganzen Tag für Ihr Geld?

[Keatanu]

!

Dieser Beitrag wurde vom System automatisch gesperrt. Bei Fragen wenden Sie sich bitte an [e-mail]

[Leichtmatrose]

Antwort auf Beitrag Nr.: 27.961.770 von krofisch am 25.02.07 17:14:36

Nicht ablenken!

Wo bleibt die Übersetzung?

....and there are no assurances that we will be able earn such revenues in the future.

[westfale64]

Antwort auf Beitrag Nr.: 27.940.969 von krofisch am 24.02.07 12:05:31

#4924: Diese Selbstbedienung der Aqua-Vorstände kann auch Aquas Forenpusher nicht weglügen -höchstens zumüllen.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.961.753 von krofisch am 25.02.07 17:13:55

Warum fällt es dir so schwer auf höfliche Fragen entsprechend zu antworten? Ist das in der Branche so üblich? Kein Wunder kommt da kein Geschäft zustande.
Für den Umgangsformen den du an den Tag legst würde sich ein Neandertaler schämen. Ob da wohl ein Zusammenhang besteht, schließlich ist das nur ein paar Km von Herten entfernt?

[krofisch]

Antwort auf Beitrag Nr.: 27.965.155 von westfale64 am 25.02.07 19:57:00

Da steht doch nur die typische sehr kreative und merkwürdige \\\\'Übersetzungskunst\\\\' von \\\\'Pinochio\\\\'!
der evtl. so manchen mit seinen kopierten Hasspostings doch sehr an ehemalige wegen Unfähigkeit entlassene Hamm-Mitarbeiter erinnert!

Die Realität und das Original steht dagegen u. a. in #4925!

[krofisch]

Antwort auf Beitrag Nr.: 27.966.522 von wohinistmeinGeld am 25.02.07 21:49:52

Warum fällt es dir so schwer auf höfliche Fragen entsprechend zu antworten?

Wir warten alle noch auf deine Antworten z. B. zu den Fragen in #4935

Aber den Fragen weichst du ja ständig nur aus!

[westfale64]

Antwort auf Beitrag Nr.: 27.986.106 von krofisch am 26.02.07 17:54:59

Die für Aqua peinlichen Passagen des Berichtes kriegen Sie nicht weggelogen, krofisch.






Hier die Belege aus Aquas neuem Quartalsbericht (wörtlich übersetzt), die zeigen, dass Aqua noch nie ein eigenes Produkt verkauft gekriegt hat und dass die Initiatoren die Anlegermillionen mittels „management fees“ in die eigene Tasche verschieben. Auch die Belege für die sich ankündigende Insolvenz mangels Massesind dort zu lesen. Für die Leser, die die englische Fassung (rot)nicht verstehen habe ich die wörtliche Übersetzung (grün)dazugeschrieben.



„We currently have eight full-time employees.“Wörtlich übersetzt: Wir haben derzeit 8 Vollzeitangestellte.

Eine 8-Mann-Klitsche, die Millionen an die Gründer Hamm und Stamm verschiebt. Wofür ?




„As of September 30, 2006, the date of our most recently available financial statements, we had a working capital deficit of $2,059,410.“Wörtlich übersetzt: Am 30.Sep.2006….hatten wir ein Arbeitskapitaldefizit von $2.059.410.

Der Laden ist also mit 2 Mio. überschuldet.





„The revenues that we earned during the year ended September 30, 2006 were earned from services that we provided and equipment sales in connection with HVAC&R“Wörtlich übersetzt: Die Einnahmen, die wir bis zum30.Sep. 2006 hatten entstanden durch Service und Equipmentverkäufe in Verbindung mit HVAC&R.

Zur Erinnerung: Die Aktionäre bezahlen Herrn Hamm zweimal: Einmal mit den 20000 monatlichen Vorstandsbezügen und dann noch als Auftragnehmer (HVAC&R)
Der Beleg, dass Aqua weder mit „Aquamission“ noch mit „Thermomission“ oder „Energymission“ auch nur einen einzigen Euro eingenommen hat.





„Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products,“Wörtlich übersetzt: Auch wenn wir Orders für Thermomobil,Aquamission und Energymission erhalten haben, haben wir noch keine Einnahmen durch den Verkauf eines dieser Produkte erhalten.

Wer soll den unbrauchbaren Quatsch auch kaufen ?




„We incurred management fees of $716,231 during the year ended September 30, 2006. Of this amount, $147,529 were paid to Stamm & Lang Rechtsanwalte, a German law firm of which Achim Stamm, our former Chief Financial Officer, Secretary, Treasurer and a former director, is a partner, pursuant to a management consulting contract. An additional $173,140 was paid to Stamm & Lang in lieu of notice upon termination of our agreement with them in February, 2006. Also included in management fees are amounts charged under a management consulting contract with Hubert Hamm, a managing director of Aqua GmbH, and the lead consultant for research and development for Aqua GmbH’s HVAC&R department.“Wörtlich übersetzt: $716.231 wurden bis zum 30. Sep.2006 bezahlt. $147.529 davon wurden an Stamm und Lang Rechtsanwälte bezahlt, eine Kanzlei bei der Stamm, unser früherer CFO….. und früherer Direktor, Partner ist. Zusätzliche $173.140 wurden an Stamm und Lang…. im Feb.2006 bezahlt.Auch in den „management fees“ enthalten sind Zahlungen an Hubert Hamm….

Millionen für Hamm und Stamm. Daher die Verluste.




„Included in current liabilities are a total of $1,441,507 payable to a law firm of which, Achim Stamm, one of our former officers and directors, is a partner.“Wörtlich übersetzt: Eingeschlossen sind Schulden/Verbindlichkeiten bei Stamm……in Höhe von $1.441.507.

Und noch ein Nachschlag für die Abzocker.




„As at September 30, 2006 we had cash in the amount of $187,432 and a working capital deficit of $2,059,410.“Wörtlich übersetzt:Am 30.Sep.2006 hatten wir $187.432 cash auf dem Konto und ein Arbeitskapitaldefizit in Höhe von $2.059.410.

Klar, dass die Bude überschuldet ist: Nichts verkauft, aber die Aqua-Gründer stecken sich die Anlegermillionen ein.




„we have not yet achieved profitability. We anticipate that we will continue to incur losses for the foreseeable future“Wörtlich übersetzt: Wir haben noch keinen Gewinn erzielt. Wir vermuten, dass wir auch in absehbarer Zukunft nur Verluste einfahren werden.



„We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability and we anticipate that we will continue to incur substantial losses in the foreseeable future.“Wörtlich übersetzt: Wir haben keine ausreichenden finanziellen Resourcen um die erwarteten Kosten unseres Operationsplans und unsere Schulden/Verbindlichkeiten für die nächsten 12 Monate zu bezahlen.Wir haben noch keine Gewinne gemacht und vermuten, dass wir in absehbarer Zukunft auch weiterhin Verluste machen werden.

Aqua hat kein Geld um die nächsten 12 Monate zu überleben. Klar bei dieser Aktionärsabzocke.






Die abgezockten Aqua –Aktionäre sollten lieber die Quartalsberichte lesen, anstatt sich von den vielen Auftragsmärchen einlullen zu lassen. Dann wüssten sie, dass die Aqua-Gründer nur die folgenden Ziele verfolgen:
-Verkauf der 100 Mio. Altaktien dieser Abzockbude vor der Insolvenz
-Kassieren der happigen Vorstandsgehälter solange diese Bande das Märchen am Laufen halten kann
-Kassieren von unbegründbaren „management fees“ solange der Laden noch nicht insolvent ist.






Und dieser Millionenbesch… soll ohne Strafverfahren wegen Betruges enden ?

[Teddybear]

Antwort auf Beitrag Nr.: 27.986.163 von krofisch am 26.02.07 17:57:05

Wir warten alle noch auf deine Antworten

Wer sind denn die "wir alle"?

Alle in der Firma, in der ein dauerurlaubender Beamter versucht, mit Dummpush Aktien zu verkaufen?

[wohinistmeinGeld]

So Leute, auf der Homepage wurde jetzt der von mir schon länger gepostete Fehler korrigiert.

Unter der Überschrift:

04.05.2005 - Aqua Society-Gruppe liefert vier Großkälteanlagen
ins Reich der Mitte

Konnte man bisher was über den Gotthard-Tunnel lesen.

Jetzt steht der richtige Text da, aber es wäre natürlich schon etwas viel verlangt gewesen wenn man auch das Datum der Überschrift dem Datum des Textes angepasst hätte, mal sehen wie lange das wieder dauert. Jetzt stimmt die Reihenfolge der Meldungen nicht mehr. Die bringen doch die einfachsten Dinge nicht fertig und das obwohl ich denen noch dabei helfe. kein Wunder wird das nichts mit dem Tatsächlichen Geschäft, die sind mit ihrer Homepage schon total überfordert.

Jetzt kann krofischchen wieder erzählen, daß das nie falsch war, aber das ist mir so egal wie sonst was, der meint eh er ist der hellste Deutschlands und kein anderer sieht die primitivsten Fehler die sie machen.

Ob da nicht gleich der nächste Fehler in dem Text steht bin ich mir nicht sicher.

Da heißt es:

19.April 2005 -

Im Rahmen einer langfristig angelegten Kooperation mit einem der größten chinesischen Importunternehmen für Bergbautechnik hat die Aqua-Society Gruppe jetzt die ersten vier Großkälteanlagen für den Bergbau in die Volksrepublik geliefert.

Ich kann mich nicht erinnern ob im folgenden Q-Bericht oder Jahresabschluß die Einnahmen diese 4 Anlagen dabei waren, sollte aber schon wenn es stimmt, daß bis zum 19.4.05 die Anlagen geliefert wurden. Wenn nicht, dann wäre es schon mutig diese Meldung wieder rein zu stellen.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.987.130 von Teddybear am 26.02.07 18:38:52

die Frage habe ich längst beantwortet, er muß halt mal ein paar Seiten zurückgehen.
Aber es ist eh egal, weil er genau weiß wie das gelaufen ist, genauso wie die 2 Meldung die sie auf der Homepage verschlampert hatten und jetzt wieder das ist.

[krofisch]

Antwort auf Beitrag Nr.: 27.986.852 von westfale64 am 26.02.07 18:27:35

Steht sa etwa schon wieder nur die typische sehr kreative und merkwürdige \\\\\'Übersetzungskunst\\\\\' von \\\\\'Pinochio\\\\\'!
der evtl. so manchen mit seinen kopierten Hasspostings doch sehr an ehemalige wegen Unfähigkeit entlassene Hamm-Mitarbeiter erinnert?

Macht nichts.
Hier ist das Original:


http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

10QSB 1 form10qsb.htm QUARTERLY REPORT FOR THE PERIOD ENDED DECEMBER 31, 2006
--------------------------------------------------------------------------------

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-QSB

(Mark One)

[ X ] Quarterly Report Under Section 13 Or 15(d) Of The Securities Exchange Act Of 1934
For the quarterly period ended December 31, 2006

[ ] Transition Report Under Section 13 Or 15(d) Of The Securities Exchange Act
For the transition period from ________to ________

COMMISSION FILE NUMBER 000-50163

AQUA SOCIETY, INC.
(Exact name of small business issuer as specified in its charter)

NEVADA 52-2357931
(State or other jurisdiction of incorporation or (IRS Employer Identification No.)
organization)

Konrad - Adenauer Strasse 9-13
45699 Herten, Germany
(Address of principal executive offices)

011-49-6031-791-760
Issuer's telephone number

Not Applicable
Former name, former address and former fiscal year, if changed since last report

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 [ X ] No [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: As of February 20, 2007 the Issuer had 118,178,323 Shares of Common Stock outstanding.

Transitional Small Business Disclosure Format (check one): Yes [ ] No [X]

1


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PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

2


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AQUA SOCIETY, INC.

INTERIM CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2006

(Stated in US Dollars)

(Unaudited)


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AQUA SOCIETY, INC.
INTERIM CONSOLIDATED BALANCE SHEETS
December 31, 2006 and September 30, 2006
(Stated in US Dollars)
(Unaudited)

December 31, September 30,
ASSETS 2006 2006

Current
Cash $ 108,837 $ 187,432
Accounts receivable – trade 76,838 143,039
– other – Note 4 59,367 -
Government value added tax receivable 97,631 217,919
Inventory 332,389 306,569
Loans receivable 1 1

675,063 854,960
Investments – Note 3 2 2
Patents and patent rights 193,485 193,485
Equipment 53,811 65,343

$ 922,361 $ 1,113,790

LIABILITIES

Current
Accounts payable and accrued liabilities – Note 4 $ 527,018 $ 537,271
Loans payable – Notes 4 and 5 3,165,735 2,377,099

3,692,753 2,914,370

STOCKHOLDERS’ DEFICIENCY

Common stock, $0.001 par value – Notes 6 and 8
300,000,000 shares authorized
118,178,323 shares issued and outstanding (September 30, 2006:
118,178,323 shares) 118,179 118,179
Additional paid-in capital 28,690,854 28,609,612
Accumulated other comprehensive loss (246,705 ) (150,368 )
Accumulated deficit (31,332,720 ) (30,378,003 )

(2,770,392 ) (1,800,580 )

$ 922,361 $ 1,113,790

SEE ACCOMPANYING NOTES


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AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Sales $ 25,441 $ 782,242
Less: cost of goods sold 580 593,010

24,861 189,232

General and administrative expenses:
Accounting and audit fees 73,443 57,121
Advertising and promotion 19,329 58,187
Amortization 5,899 6,584
Bad debts 28,431 43,685
Bank charges and interest 117 85
Consulting fees 36,634 177,085
Development costs – Note 4 268,919 412,455
Filing fees 867 121
Interest 57,256 57,088
Legal fees – Note 4 130,228 36,264
Management fees – Note 4 57,988 124,857
Office and miscellaneous 23,270 66,274
Rent 26,154 28,917
Salaries and benefits 154,052 96,888
Stock-based compensation 57,242 -
Transfer agent 225 815
Travel – Note 4 39,524 80,478
Write down of patents - 8,994
Write down of inventory - 63,928

(979,578 ) (1,319,826 )

Operating loss before other item (954,717 ) (1,130,594 )

Other item:
Interest income - 5,292

Net loss for the period (954,717 ) (1,125,302 )

Other comprehensive loss
Foreign currency adjustment (96,337 ) (2,551 )

Comprehensive loss for the period $ (1,051,054 ) $ (1,127,853 )

Basic loss per share $ (0.01 ) $ (0.01 )

Weighted average number of shares outstanding 118,178,323 115,771,988

SEE ACCOMPANYING NOTES


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AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Cash flows used in Operating Activities
Net loss for the period $ (954,717 ) $ (1,125,302 )
Items not affecting cash:
Amortization 5,899 6,584
Stock-based compensation 57,242
Write-down of patents - 8,994
Write-down of inventory - 63,928
Interest imputed on loans payable 24,000 -
Changes in non-cash working capital items:
Accounts receivable 10,882 (126,415 )
Government value added tax receivable 126,004 12,329
Inventory (13,251 ) 9,748
Accounts payable and accrued liabilities (23,954 ) 526,835

(767,895 ) (623,299 )

Cash flows used in Investing Activities
Equipment disposal 5,634 48,178
Repayment of loans receivable - (68,388 )

5,634 (20,210 )

Cash flows from Financing Activity
Increase in loans payable 677,508 174,408

Effect of exchange rates on cash 6,158 (7,730 )

Decrease in cash during the period (78,595 ) (476,831 )

Cash, beginning of the period 187,432 658,949

Cash, end of the period $ 108,837 $ 182,118

SEE ACCOMPANYING NOTES


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AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Capital stock issued for cash 1 $ 31,042 $ - - $ - $ - $ - $ 31,042
Contribution of assets - - 25,056 - - - - 25,056
Pursuant to the acquisition of Aqua
Society GmbH 10,000,000 10,000 - 34,000,000 34,000 - - 44,000
Exchange of shares (1 ) (31,042 ) - - - - - (31,042 )
Outstanding shares of Company
prior to acquisition 69,908,000 69,908 - - - - (194,748 ) (124,840 )
Unrealized loss on translation - - - - - (997 ) - (997 )
Net loss for the period - - - - - - (67,448 ) (67,448 )

Balance, September 30, 2004 79,908,000 79,908 25,056 34,000,000 34,000 (997 ) (262,196 ) (124,229 )

Issued for cash:
Pursuant to private placement - at $2.40 416,666 417 999,583 - - - - 1,000,000
- at $1.98 1,232,322 1,233 2,438,766 - - - - 2,439,999
Pursuant to exercise of options - at $1.70 215,000 215 365,285 - - - - 365,500
Conversion of special warrants 34,000,000 34,000 - (34,000,000 ) (34,000 ) - - -
Stock-based compensation - - 22,480,000 - - - - 22,480,000
Unrealized gain on translation - - - - - 89,594 - 89,594
Net loss for the year - - - - - - (25,787,558 ) (25,787,558 )

Balance, September 30, 2005 115,771,988 115,773 26,308,690 - - 88,597 (26,049,754 ) 463,306

Pursuant to private placement - at $1.04 1,160,960 1,161 1,206,237 - - - - 1,207,398
- at $0.88 1,245,375 1,245 1,094,685 - - - - 1,095,930
Unrealized loss on translation - - - - - (238,965 ) - (238,965 )
Net loss for the period - - - - - - (4,328,249 ) (4,328,249 )

Balance, September 30, 2006 118,178,323 118,179 28,609,612 - - (150,368 ) (30,378,003 ) (1,800,580 )

SEE ACCOMPANYING NOTES


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Continued

AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Stock-based compensation - - 57,242 - - - - 57,242
Unrealized loss on translation - - - - (96,337 ) - (96,337 )
Contribution of interest – Note 5 - - 24,000 - - - - 24,000
Net loss for the period - - - - - - (954,717 ) (954,717 )

Balance, December 31, 2006 118,178,323 $ 118,179 $ 28,690,854 - $ $ (246,705 ) $ (31,332,720 ) $ (2,770,392 )

SEE ACCOMPANYING NOTES


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AQUA SOCIETY, INC.
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2006
(Stated in US Dollars)
(Unaudited)

Note 1 Interim Reporting

While information presented in the accompanying interim consolidated financial statements is unaudited, it includes all adjustments, which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented. All adjustments are of a normal recurring nature. The accompanying interim consolidated financial statements do not include all information and footnote disclosures required for an annual set of financial statements prepared under generally accepted accounting principles in the United States of America. The accompanying interim consolidated financial statements should be read in conjunction with the Company’s September 30, 2006 audited consolidated financial statements. Operating results from the period ended December 31, 2006 are not necessarily indicative of the results that can be expected for the year ending September 30, 2007.


Note 2 Nature and Continuance of Operations

These interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for the next twelve months. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. At December 31, 2006, the Company had not yet achieved profitable operations, has accumulated losses of $31,332,720 since its inception, has a working capital deficiency of $3,017,690 and expects to incur further losses in the development of its business, all of which casts substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations 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 considers that the Company will be able to obtain additional funds by equity financing and/or related party advances; however there is no assurance of additional funding being available.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 2
(Unaudited)

Note 3 Investments

i) UFI Tec GmbH

By an agreement dated November 30, 2004 and effective December 10, 2004, the Company acquired a 33% interest in UFI-Tech GmbH (“UFI”), a German limited company, for consideration of EUR 25,565 (US $32,476). During the year ended September 30, 2005, the Company wrote down the $32,476 investment and related loans receivable of $67,227 to their net realizable value of $1. During the year ended September 30, 2006, the Company sold 13.1% of their 33% interest (19.9% interest remains) for proceeds of EUR 10,072 (US $12,237) and wrote down an additional loan receivable of $66,094 to its net realizable value of $1.

ii) By an agreement dated February 18, 2006, the Company acquired a 51% interest in TMR GmbH (“TMR”), a German limited company, in consideration of EUR 12,750 (US $15,999). TMR is involved in the development, installation, distribution and management of renewable resources. At the date of acquisition, TMR had no business, assets or liabilities. During the year ended September 30, 2006, the Company wrote down its investment by $15,674 (EUR 12,749) to $1. During the three months ended December 31, 2006, the Company disposed of its interest in TMR for $1.

Note 4 Related Party Transactions – Note 7

The Company incurred the following amounts charged by directors of the Company, the brother of a director of the Company and a law firm of which a former director of the Company is a partner:

Three months ended
December 31,
2006 2005

Development costs $ 88,013 $ 191,595
Legal fees - 26,073
Management fees 57,988 124,857
Travel - 1,780

$ 146,001 $ 344,305

Accounts receivable – other includes $59,367 related to an advance to a former officer of the Company.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 3
(Unaudited)

Note 4 Related Party Transactions – Note 7 – (cont’d)

Included in accounts payable and accrued liabilities is $77,498 (September 30, 2006: $79,358) due to directors of the Company and a former director of the Company. These amounts are unsecured, non-interest bearing and have no specific terms for repayment.

Included in loans payable is $1,527,238 (September 30, 2006: $1,441,507) due to a law firm of which a former director of the Company is a partner.

Note 5 Loans Payable

Of the total loans outstanding at December 31, 2006, $950,886 (September 30, 2006: $883,822) bear interest at 7.5% per annum, are secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $773,403 (September 30, 2006: $743,675) are non-interest bearing, secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $1,319,261 (September 30, 2006: $634,276) are non-interest bearing, unsecured and due on demand, and $122,185 (September 30, 2006: $115,326) of loans payable bear interest of 7.5% per annum, are unsecured and are repayable on or before December 31, 2006. The loans due on or before December 31, 2006 were not repaid and are consequently in default. The company has imputed interest on the non-interest bearing loans at 10% per annum for a total of $24,000 during the three months ended December 31, 2006.

Note 6 Capital Stock – Note 8

Commitments:

Share Purchase Options

On December 21, 2006, the Company adopted a second stock incentive plan (the “2006 Stock Option Plan”) to provide incentives to employees, directors, officers and permitted consultants. The 2006 Stock Plan provides for the issuance of up to 7,000,000 options with a term to be determined by the plan administer or, if not so established, ten years. The maximum aggregate number of shares that may be optioned under the 2006 Stock Option Plan will be increased effective the first day of each of the Company’s fiscal quarters (“adjustment date”), beginning with the fiscal quarter commencing April 1, 2007 by an amount equal to the lesser of i) 15% of the outstanding shares on the first day of the applicable quarter less a) the number of shares of common stock that may be optioned and sold under the plan prior to the adjustment date and b) the number of shares of common stock that may be optioned and sold under any other stock option plan in effect as of the adjustment date or ii) such lesser number of shares of common stock as may be determined by the Board.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 4
(Unaudited)

Note 6 Capital Stock – Note 8 – (cont’d)

Commitments: – (cont’d)

Share Purchase Options – (cont’d)

A summary of the stock options outstanding as at December 31, 2006 and changes during the period is presented below:

Weighted
Average
Exercise
Shares Price

Options outstanding at September 30, 2006 7,535,000 $ 1.70
Granted 4,500,000 $ 0.40

Options outstanding at December 31, 2006 12,035,000 $ 1.21

Options exercisable at December 31, 2006 7,535,000

A summary of stock options outstanding at December 31, 2006, is as follows:

Exercise
Number Price Expiry Date

562,500 $0.40 April 1, 2009
562,500 $0.40 July 1, 2009
562,500 0.40 October 1, 2009
7,535,000 $1.70 October 15, 2009
562,500 $0.40 January 1, 2010
562,500 $0.40 April 1, 2010
562,500 $0.40 July 1, 2010
562,500 $0.40 October 1, 2010
562,500 $0.40 January 1, 2011

12,035,000

The Company used the Black-Scholes option pricing model to compute estimated fair value at each of the grant dates.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 5
(Unaudited)

Note 6 Capital Stock – Note 8– (cont’d)

Commitments – (cont’d)

Share Purchase Options – (cont’d)

The Black-Scholes option-pricing model requires the input of highly subjective assumptions including the expected price volatility. Changes in the subjective input assumptions can materially affect the fair value estimate and therefore the Black-Scholes model does not necessarily provide a reliable single measure of the fair value of the Company’s share purchase options.

The Company used the Black-Scholes option pricing model to compute the estimated fair value of the options granted during the three months ended December 31, 2006, based on the following assumptions:

Risk-free interest rate 4.84%
Dividend yield rate 0.00%
Price volatility 159.23%
Weighted average expected life of options 2.03 years
Weighted average fair value $0.36

The Company recognized stock-based compensation of $57,242 during the three months ended December 31, 2006.

Share Purchase Warrants

As at December 31, 2006, a total of 2,406,335 share purchase warrants exercisable into 2,406,335 common shares were outstanding as follows:

Exercise
Number Price Expiry Date

1,169,960 $1.30 February 9, 2008
1,245,375 $1.10 June 15, 2008

2,406,335


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 6
(Unaudited)

Note 7 Commitments

i) Lease Contracts

By four lease agreements dated September 30, 2004 and effective October 1, 2004, the Company entered into four lease contracts for the Company’s corporate head office. The leases require total payments of EUR 6,690 (US$8,826) per month. Two of the leases are effective until May 31, 2007 and the other two are effective until December 31, 2007. The leases will be automatically extended every year unless cancelled with six months advance notice.

Minimum future lease payments

September 30, 2007 $ 80,960
2008 12,144

$ 93,104

ii) Management/Consulting Contracts


a) By a management consulting contract dated September 30, 2004 and effective October 1, 2004, the Company’s subsididary (“GmbH”) agreed to pay EUR15,000 (US $19,789) per month to a managing director of GmbH for development, production and quality assurance services. The managing director of the GmbH is also a director of the Company. This contract is for an unlimited term but may be terminated by either party with six months advance notice.


b) By a consulting agreement dated October 1, 2004, the Company agreed to pay $2,000 per month to a consultant of the Company. The agreement is effective for a term of 5 years. The Company granted 500,000 common stock options upon signing of the agreement. The exercise price of the stock options is $1.70 per share and expires on October 15, 2009.


c) By a management consulting contract dated and effective October 1, 2004, the Company agreed to pay EUR 5,000 (US$6,274) per month for marketing and business development services. Effective October 1, 2005, the contract was amended to increase the payment to EUR 7,500 (US $9,411) per month. Effective October 1, 2006, the contract was amended to EUR 15,000 (US$19,028) per month for October, November and December, 2006. By an agreement dated November 1, 2006 and effective January 11, 2007, the Company agreed to the payment of EUR 2,000 (US $2,638) per month until December 31, 2007 and a 5% commission of gross sales to third parties which occurred as a result of the consultant’s work. The contract automatically renews for one year if not terminated at the end of a year by giving six months advance notice.



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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 7
(Unaudited)

Note 7 Commitments – (cont’d)

ii) Management/Consulting Contracts – (cont’d)

d) By a management consulting contract dated and effective January 1, 2005, the GmbH agreed to pay EUR 5,520 (US $7,002) per month for marketing, sales and distribution services. By an agreement dated November 10, 2006 and effective January 1, 2007, the contract was amended to decrease the payment to EUR 3,750 (US $4,947) per month with additional payments of EUR 10,000 (US $12,686) and EUR 5,000 (US$6,343) in November and December 2006 respectively. The contract ends on December 31, 2007 and may be terminated by either party with three months advance notice.

e) By a management consulting agreement dated August 1, 2005, the GmbH agreed to pay EUR 3,900 (US $5,145) per month for administration services for the research and development department. The contract is for an unlimited term and may be terminated by either party by giving six months advance notice.

f) By a management consulting contract dated December 12, 2005 and effective January 1, 2006, the GmbH agreed to pay EUR 20,000 (US $25,371) per month to March 31, 2006 and EUR 25,000 (US $31,714) per month to December 31, 2006 for technical services. Effective September 18, 2006, the contract was amended and the payment was decreased to EUR 10,000 (US$ 12,686) per month and extended to June 30, 2007. The management consulting contract is with a company owned by a director of the Company.

g) By a management consulting contract dated November 10, 2004, the Company agreed to pay EUR 500 (US $660) per press release to a former director of the Company. This contract is for an unlimited term but may be terminated by either party with one month advance notice.

h) By management consulting agreements dated December 28, 2006, the Company agreed to pay directors of the Company a total of EUR 56,000 (US $73,879) for the period October 1, 2006 to December 31, 2006 and EUR 14,000 (US $18,470) per month for the period January 1, 2007 to September 30, 2007. The contract is for an unlimited term but may be terminated by either party with three months advance notice.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 8
(Unaudited)

Note 8 Subsequent Event

Subsequent to December 31, 2007, the Company approved a private placement offering of 7,500,000 units at $0.30 per unit with each unit consisting of one share of the Company’s common stock and one-half share purchase warrant for total proceeds of $2,250,000. Each share purchase warrant entitles the holder to purchase one additional share of the Company’s common stock at $0.35 per share for a period of one year from the date of issuance of the units.


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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this Quarterly Report constitute "forward-looking statements". These statements, identified by words such as “plan”, "anticipate," "believe," "estimate," "should," "expect" and similar expressions include our expectations and objectives regarding our future financial position, operating results and business strategy. These statements reflect the current views of management with respect to future events and are subject to risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from those described in the forward-looking statements. Such risks and uncertainties include those set forth under the caption "Management's Discussion and Analysis or Plan of Operation" and elsewhere in this Quarterly Report. We do not intend to update the forward-looking information to reflect actual results or changes in the factors affecting such forward-looking information. We advise you to carefully review the reports and documents we file from time to time with the United States Securities and Exchange Commission (the “SEC”), particularly our Annual Reports on Form 10-KSB and our Current Reports on Form 8-K.

As used in this Quarterly Report, the terms "we", "us", "our", “the Company” and “Aqua Society” mean Aqua Society, Inc. unless otherwise indicated. All dollar amounts in this Quarterly Report are in U.S. dollars unless otherwise stated.

INTRODUCTION

The following discussion and analysis summarizes our plan of operation for the next twelve months, our results of operations for the three month period ended December 31, 2006 and changes in our financial condition from September 30, 2006. This discussion should be read in conjunction with the Management’s Discussion and Analysis or Plan of Operation included in our Annual Report on Form 10-KSB for the year ended September 30, 2006.

We were incorporated under the laws of the State of Nevada on March 2, 2000, under the name “V G Tech, Inc.”

On September 22, 2004, we completed the acquisition of Aqua Society GmbH (“Aqua GmbH”). Prior to our acquisition of Aqua GmbH, we were in the business of providing services in the areas of digital graphics and special effects. Upon completing the acquisition of Aqua GmbH, we abandoned this digital imaging business. We are now in the business of designing and developing applied technologies, and providing consulting services, in the areas of heating, ventilation, air conditioning, refrigeration, water purification, waste water treatment, and, our latest business segment, energy (collectively, the “Aqua Business”).

Effective December 27, 2004, we changed our name to “Aqua Society, Inc.” to better reflect the nature of our current business operations

Recent Corporate Developments

The following significant corporate developments have occurred since our fiscal year ended September 30, 2006:

1. After the completion of our 2006 fiscal year, we completed the construction of a demonstration prototype of our EnergyMission / Yellow Box technology. A media event to showcase this demonstration model was held at our facilities on December 21, 2006. This demonstration unit will be used by us for marketing and demonstration purposes as well as for research and development.


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2. On December 21, 2006, our Board of Directors approved and adopted our 2006 Stock Option Plan (the “2006 Option Plan”). Under the 2006 Option Plan, options may be granted for a maximum of 7,000,000 shares of our common stock. The maximum number of shares that may be optioned under the 2006 Option Plan will increase each fiscal quarter, beginning with the fiscal quarter commencing April 1, 2007, by an amount equal to 15% of the total increase in the number of shares of common stock outstanding or such lesser amount as may be determined by our Board of Directors.


A summary of our 2006 Option Plan is set forth in our Current Report on Form 8-K filed with the SEC on December 29, 2006. The full text of the 2006 Option Plan is attached as Exhibit 10.1 to our Current Report on Form 8-K filed with the SEC on December 29, 2006, and is incorporated by reference herein.


3. Also on December 21, 2006, our Board of Directors approved the grant of options under the 2006 Option Plan for 2,500,000 shares of our common stock at an exercise price of $0.40 per share to Mr. Terberg and options to purchase an aggregate of 2,000,000 shares of our commons stock to Mr. van der Zee, also at a price of $0.40. The options granted to each of Mr. Terberg and Mr. van der Zee vest in equal quarterly instalments, commencing on April 1, 2007 and expiring 2 years after the applicable vesting date.


Changes to the Board of Directors and Executive Officers

In addition to the above corporate developments, there have been a number of changes to our Board of Directors and executive officers since the end of our 2006 fiscal year.

Effective October 31, 2006, Robert Terberg replaced Petrus Lodestijn as our Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary and also as a member of our Board of Directors. Also effective on October 31, 2006, our Board of Directors was expanded by the appointment of Hubert Hamm as a director of the Company and by the appointment of Hugo van der Zee as the Chairman of the Company’s Board of Directors.

PLAN OF OPERATION

During the next twelve months, we will focus: (1) on the design and construction of products ordered from us; (2) on further developing the market for our products; and (3) on continuing to develop and improve our products. Specifically, our plan of operation for the next twelve months involves the following:

1. Design and Construction of Ordered Units: During the next twelve months, we will work on the design and construction of the waste heat power generation, AquaMission and ThermoMobil units for which we have received orders.


2. Market Development Activities: Over the next twelve months we intend to do the following in an effort to continue developing a market for our products and services:


(a) We have completed the construction of a prototype EnergyMission / Yellow Box unit that we will use for marketing and demonstration purposes, as well as for ongoing research and development. The prototype unit will be used by us to demonstrate the effectiveness of our technology to trade media and industry representatives on an ongoing basis.


(b) We are also in the process of setting up a wholly owned subsidiary in the Netherlands (the “Dutch Subsidiary”), through which we will seek to promote all of our products in the “Benelux” countries (Belgium, the Netherlands and Luxemberg). In addition, we intend to use the Dutch Subsidiary to establish an additional production facility to be located in


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the Netherlands. This production facility is expected to enable us to significantly expand our production capabilities from the limited facilities located in Herten, Germany. The Dutch Subsidiary is expected to be based in Zevenaar, near Arnhem, in the east of the Netherlands.


(c) We will continue to attempt to market the AquaMission combined air-conditioning and drinking water product in geographic locations with high ambient temperatures and relative humidity but without readily available sources of fresh water, such as the Persian Gulf and the Middle East. Three demonstration models of the AquaMission are currently on location in the Middle East. We are currently in the process of seeking new sales agents for our products in the Middle East.


We will continue to try and generate sales in the Middle East using these demonstration models.


In addition to these activities, we may also seek to increase brand awareness through various advertising activities and sponsorships.

3. Product Development Activities: During the next twelve months, we will also continue to work on further developing and improving our existing products in an effort to increase their marketability. As part of these efforts, we have developed and built a demonstration model of our Yellow Box technology.


We are also in the process of constructing a high-tech “climate room” that will allow us to simulate the world’s various humidity and temperature zones. This “climate room” will assist us in optimizing our AquaMission unit for different geographic locations.


We anticipate spending approximately $2,000,000 in pursuing our plan of operation over the next twelve months. As of December 31, 2006, the date of our most recently available financial statements, we had a working capital deficit of $3,017,690. As such, we do not have sufficient working capital to meet our expected needs over the next twelve months. Although we have recently begun to earn revenues, we have not yet earned a net profit and we do not expect to achieve profitability in the near future as we expect to continue to incur substantial product development, marketing and operating expenses. We are likely to continue to need substantial additional financing in order to implement our plan of operation. Our management expects that any additional financing that we obtain will likely be in the form of equity financing.

Our actual expenditures and business plan may differ from the one stated above. Our Board of Directors may decide not to pursue this plan. In addition, we may modify the plan based on available financing.

RESULTS OF OPERATIONS

First Quarter Summary

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Revenue $25,441 $782,242 (96.7)%
Cost of Goods Sold (580) (593,010) (99.9)%
General and Administrative Expenses (979,578) (1,319,826) (25.8)%
Other Items Nil (5,292) (100.0)%
Net Loss $(954,717) $(1,125,302) (15.2)%

5


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Revenues

During our last fiscal year, we earned revenues from HVAC&R and energy optimization consulting services, and from equipment sales made in connection with the provision of those services. However, we do not have a long-term history of earning revenues and, as a result, we are unable to accurately forecast future revenues. Readers are cautioned that our past operating results may not be indicative of future performance.

During the fiscal year ended December 31, 2006, our revenue decreased by 96.7% as compared to the same period ended in 2005. Since their appointment in October, 2006, our new executive officers and directors have been conducting a company wide review of our operations. During this period, we scaled back our HVAC&R and energy optimizing consulting activities. As a result, our revenues decreased substantially.

During the next twelve months, we intend to concentrate our resources on developing the market for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, as we believe that these products will provide us with the greatest opportunity for future profitability. As a result, we may continue to scale back the HVAC&R and energy optimization consulting services that we have provided in the past.

Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products, and there are no assurances that we will be able earn such revenues in the future.

Operating Costs and Expenses

Our operating expenses for the quarterly period ended December 31, 2006 consisted of the following:

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Accounting and audit fees $73,443 $57,121 28.6%
Advertising and promotion 19,329 58,187 (66.8)%
Amortization 5,899 6,584 (10.4)%
Bad debts 28,431 43,685 (34.9)%
Bank charges and interest 117 85 37.6%
Consulting fees 36,634 177,085 (79.3)%
Development costs 268,919 412,455 (34.8)%
Filing fees 867 121 616.5%
Interest 57,256 57,088 0.3%
Legal fees 130,228 36,264 259.1%
Management fees 57,988 124,857 (53.6)%
Office and miscellaneous 23,270 66,274 (64.9)%
Rent 26,154 28,917 (9.6)%
Salaries and benefits 154,052 96,888 (59.0)%
Stock-based compensation 57,242 Nil 100.0%
Transfer agent 225 815 (72.4)%

6


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Travel 39,524 80,478 (50.9)%
Write down of patents Nil 8,994 (100.0)%
Write down of inventory Nil 63,928 (100.0)%
Total General and Administrative Expenses $979,578 $1,319,826 (25.8)%

Our general and administrative expenses decreased by $340,248, or 25.8%, during the three month period ended December 31, 2006 as compared to 2005. This decrease in our general and administrative expenses was primarily generated as a result of the efforts of our current management to streamline our operations. During the next few months, we expect that our general and administrative expenses will continue to fluctuate somewhat as we continue to review and overhaul our current operations.

Management fees decreased by $66,869, or 53.6%, during the quarter ended December 31, 2006, primarily because of the termination of a management services contract under which we had been obligated to pay management fees of EUR 20,000 per month to a law firm of which a former officer and director is a partner. Also, during the last fiscal quarter, we scaled back some of our product development activities as our management conducted a company wide assessment of our operations. As a result, development costs, and consulting fees associated with our development activities, also decreased significantly during our last fiscal quarter. Office and travel expenses also decreased primarily as a result of our efforts to streamline our operations. Also contributing to the overall decrease in our general and administrative expenses from the quarter ended December 31, 2005 was the fact that, during our December 31, 2005 fiscal quarter, we recognized one-time patent and inventory write down charges totaling $72,922. No patent or inventory write down charges were recognized for the period ended December 31, 2006.

Offsetting the above decreases were significant increases in accounting and audit fees, legal fees and salaries and benefits. The increase in legal fees relates primarily to amounts incurred in connection with the negotiation of our patent licensing agreement with Ecoenergy Patent GmbH and in connection with the restructuring of our operations by our new management. The events giving rise to the additional amounts spent on legal fees are not expected to be ongoing. Accounting and auditing fees increased as a result of an increase in the amounts charged by our consulting accountants and by our independent auditors. The increase in salaries and benefits was a result of the hiring of two additional non-management employees.

Also, during the period ended December 31, 2007, we recorded stock-based compensation expenses of $57,242 on account of stock options granted to certain of our officers and directors during the period. No options or other stock-based compensation were granted during the period ended December 31, 2005.

LIQUIDITY AND CAPITAL RESOURCES

Working Capital

At At Percentage
December 31, 2006 September 30, 2006 Increase / (Decrease)
Current Assets $675,063 $854,960 (21.0)%
Current Liabilities (3,692,753) (2,914,370) 26.7%
Working Capital Surplus (Deficit) $(3,017,690) $(2,059,410) 46.5%

7


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Included in current liabilities are a total of $1,527,238 payable to a law firm of which one of our former officers and directors, is a partner. We are currently in negotiations with the former officer and director for the settlement of the amounts owed to him and his law firm.

Cash Flows

Three Months Ended December 31
2006 2005
Cash Flows used in Operating Activities $(767,895) $(623,299)
Cash Flows used in Investing Activities 5,634 (20,210)
Cash Flows from Financing Activities 677,508 174,408
Effects of Foreign Exchange Rates 6,158 (7,730)
Net Decrease in Cash During Period $(78,595) $(476,831)

During the period ended December 31, 2006, we obtained financing in the form of a EUR 500,000 loan. This loan is unsecured, non-interest bearing and payable upon demand.

Total loans payable at December 31, 2006 consist of the following amounts:

(a) $950,886, bearing interest at a rate of 7.5% per annum, secured by accounts receivable and repayable on or before December 31, 2006;


(b) $773,403, non-interest bearing, secured by accounts receivable and repayable on or before December 31, 2006;


(c) $122,185, bearing interest a rate of 7.5% per annum, unsecured and payable on or before December 31, 2006; and


(d) $1,319,261, non-interest bearing, unsecured and due on demand.


The amounts payable on or before December 31, 2006 have not yet been repaid and are past due. We are currently in negotiations with our creditors for the settlement and repayment of amounts owed to them.

As at December 31, 2006 we had cash in the amount of $108,837 and a working capital deficit of $3,017,690. We anticipate spending approximately $2,000,000 over the next 12 months in pursuing our plan of operation. We will require substantial additional financing in the next few months in order to pursue our current plan of operation.

Although we earned revenues during our fiscal year ended September 30, 2006, we did not earn significant revenues during the fiscal quarter ended December 31, 2006 and we have not yet achieved profitability. Our future financial results are uncertain due to a number of factors, many of which are outside of our control. These factors include, but are not limited to:

(a) our ability to commercially market our ThermoMobil and AquaMission products;


(b) our ability to develop a commercially marketable EnergyMission/Yellow Box product;


(c) our ability to raise additional capital necessary to implement our business strategy and plan of operation;


(d) our ability to compete with other existing technologies; and


8


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(e) the success of any marketing and promotional campaign which we conduct for our products once development is complete.


Due to the uncertainty regarding our future revenues and profitability, we expect that the majority of additional financing that we obtain, if any, will likely be in the form of equity financing. Our management does not expect sufficient debt financing to be available to us through traditional sources at this stage of our business.

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 are material to our stockholders.

CRITICAL ACCOUNTING POLICIES

The preparation of financial statements in conformity with generally accepted accounting principles requires our management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Our management routinely makes judgments and estimates about the effects of matters that are inherently uncertain.

We have identified certain accounting policies, described below, that are most important to the portrayal of our current financial condition and results of operations. Our significant accounting policies are disclosed in Note 3 to the interim financial statements included in this Quarterly Report.

Principles of Consolidation

The consolidated financial statements include the accounts of Aqua Society, Inc and our wholly owned subsidiary, Aqua Society GmbH, a German limited liability company (“Aqua GmbH”). All inter-company transactions have been eliminated.

Foreign Currency Translation

Our functional currency is United States dollars. Our subsidiary, Aqua GmbH, uses the Euro as its functional currency. Accordingly, assets and liabilities of Aqua GmbH are translated into US dollars at the exchange rate in effect at the balance sheet date and capital accounts are translated at historical rates. Income statement accounts are translated at the average rates of exchange prevailing during the period. Translation adjustments arising from the use of differing exchange rates from period to period are included in the Accumulated Other Comprehensive Gain/(Loss) account in Stockholders’ Equity.

Transactions undertaken in currencies other than the functional currency of the entity are translated using the exchange rate in effect as of the transaction date. Any exchange gains and losses would be included in the Statement of Operations.

Patents, Patent Rights and Amortization

Patents and patent rights are recorded at cost. We provide for the amortization of patents and patent rights on the straight-line basis over their estimated economic lives, estimated to be 5 years. Amortization is recorded upon the patents being awarded.

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RISKS AND UNCERTAINTIES

Need For Financing

We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability. We are likely to continue to need substantial additional financing in order to implement our long term business plan. There is no assurance that we will be able to acquire sufficient financing on terms acceptable to us or at all. If financing is not available or obtainable, our ability to meet our financial obligations and pursue our plan of operation will be substantially limited and investors may lose a substantial portion or all of their investment

Limited Operating History, Risks Of A New Business Venture

We are still in the process of developing our business and have only recently begun to earn revenues. Readers are cautioned that our past results may not be indicative of future performance.

Potential investors should be aware of the difficulties normally encountered by a new enterprise and the high rate of failure of such enterprises. The potential for future success must be considered in light of the problems, expenses, difficulties complications and delays encountered in connection with the development of a business in the area in which we intend to operate and in connection with the formation and commencement of operations of a new business in general. These include, but are not limited to, unanticipated problems relating to research and development programs, marketing, approvals by government agencies, competition and additional costs and expenses that may exceed current estimates. There is no history upon which to base any assumption as to the likelihood that we will prove successful, and there can be no assurance that we will ever achieve profitable operations.

If We Are Unable To Achieve Market Acceptance For Our Products, We Will Be Unable To Build Our Business

To date, we have completed technical development of our EnergyMission/Yellow Box, ThermoMobil and AquaMission products. However, we have only received a limited number of confirmed orders for these products. Our future success will depend upon the acceptance of our existing products, and other products that we develop, by the respective industries in which we intend to market those products. Achieving such acceptance will require significant investments in research and development and market development. The technologies upon which our products and services are based are relatively new and are evolving. Accordingly, in order to achieve commercial acceptance, we will have to educate prospective clients about the uses and benefits of our products.

Even If We Are Able To Develop A Commercial Market For Our Products, We May Not Have The Ability To Meet The Demand For Those Products

We intend to complete the construction of the initial AquaMission, ThermoMobil and EnergyMission/Yellow Box units ordered from us at our facilities located in Herten, Germany. However, the size of these facilities is limited.

We are currently in the process of establishing a wholly owned subsidiary in the Netherlands, with which we intend to establish a larger scale production facility. Further, we intend to seek supply contracts and/or joint venture/licensing agreements with independent manufacturing companies to manufacture our products on a large scale basis, however we have not yet entered into any such contracts or agreements.

Our Operations May Be Subject to Extensive Government Regulation

Our operations may be subject to extensive government regulations in the United States, Europe and elsewhere. In order to sell our products, we may have to satisfy numerous mandatory procedures,

10


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regulations, and safety standards established by international, federal and state regulatory agencies. Although we currently comply with stringent German regulations, there can be no assurance that we can successfully comply with all present and future government regulations worldwide.

Risks of International Business Operations

Although we are incorporated in the United States, the majority of our operating activities are conducted in Germany. Additionally, in the past, we have targeted markets for our products in the Persian Gulf and other developing parts of the world, such as Africa. As such, a significant portion of our business depends upon our ability to establish and maintain successful relationships with businesses and governments located outside of the United States. If we are unable to establish and maintain such relationships, we may not be able to implement our business plan or plan of operations.

In order to better manage the risks associated with our international operations, our management has decided to focus their business development efforts on markets near to our base of operations, such as Germany, the Netherlands and the rest of Europe.

Rapid Technological Changes In Our Industry Could Make Our Products Obsolete

The industry in which we intend to compete is characterized by rapid technological change and intense competition. New technologies, products and industry standards will develop at a rapid pace which could make our planned products obsolete. Our future success will depend upon our ability to develop and introduce product enhancements to address the needs of our customers.

Asserting And Defending Intellectual Property Rights May Impact Results Of Operations

The success of our business may depend on our ability to successfully defend our intellectual property rights. Future litigation may have a material impact on our financial condition even if we are successful in developing and marketing products. We may not be successful in defending or asserting our intellectual property rights.

An adverse outcome in any litigation or interference proceeding could subject us to significant liabilities to third parties and require us to cease using the technology that is at issue or to license the technology from third parties. In addition, a finding that any of our intellectual property rights are invalid could allow our competitors to more easily and cost-effectively compete. Thus, an unfavorable outcome in any patent litigation or interference proceeding could have a material adverse effect on our business, financial condition or results of operations.

The cost to us of any patent litigation or interference proceeding could be substantial. Uncertainties resulting from the initiation and continuation of patent litigation or interference proceedings could have a material adverse effect on our ability to compete in the marketplace. Patent litigation and interference proceedings could also absorb significant management time.

We May Be Subject To Product Liability Lawsuits

We may be subject to product liability claims. Such claims may absorb significant management time and could degrade our reputation and the marketability of our products. If product liability claims are made with respect to our products, we may need to recall the implicated product which could have a material adverse effect on our business, financial condition and results of operations. In addition, although we may maintain product liability insurance, we cannot be sure that such insurance will be adequate to cover potential product liability lawsuits. Insurance is expensive and in the future may not be available on acceptable terms, if at all. If a successful product liability claim or series of claims exceeds insurance coverage, it could have a material adverse effect on our business, financial condition and results of operations.

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If We Are Late In Filing Any Of Our Annual Or Quarterly Reports During The Next Two Years, Our Common Stock May Become Ineligible For Quotation On The OTC Bulletin Board, Which Would Negatively Affect The Market For Our Shares And Our Ability To Obtain Additional Financing.

On November 16, 2005, the SEC approved certain changes to NASD Rule 6530. As amended, NASD Rule 6530 provides that OTC Bulletin Board (“OTCBB”) issuers who are late in filing their annual or quarterly reports three times within a 24-month period will be ineligible for quotation on the OTCBB. In order to regain eligibility under this rule, the issuer would need to timely file all of its annual and quarterly reports due in a one year period. The amended NASD Rule 6530 does not apply to annual or quarterly reports for periods ended before October 1, 2005.

From time to time, we have been late in filing our quarterly and annual reports. If we are late in filing our annual or quarterly reports three times within a 24-month period, we may become ineligible for quotation on the OTCBB, which would negatively affect the market for our common stock. In addition, if our common stock is no longer eligible for quotation on the OTCBB, it may become more difficult for us to obtain additional equity financing as shares of our common stock will be less attractive to potential investors.

ITEM 3. CONTROLS AND PROCEDURES.

Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as of the end of the period covered by this report. Based on that evaluation, our principal executive officer and principal financial officer has concluded that our disclosure controls and procedures were not effective as we failed to timely file our periodic reports with the SEC on a number of occasions during the past fiscal year.

Our new management is in the process of taking measures to improve our disclosure controls and procedures in an effort to ensure that the information required to be disclosed is internally communicated and publicly reported within the time periods specified in the SEC’s rules and forms. In particular, we intend to engage outside consultants to assist us in the preparation of our accounting records and financial statements and will attempt to increase internal accountability and to clearly define internal communication channels in an effort to remedy the deficiencies identified by our principal executive officer and principal financial officer.

By working with our external consultants and our principal independent accountants, our management believes that the financial statements and the other information presented in this Quarterly Report are materially correct.

There were no changes in our internal control over financial reporting during the last fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

None.

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

All unregistered sales of our equity securities completed during our fiscal quarter ended December 31, 2006 have been previously reported in the Quarterly Reports on Form 10-QSB and Current Reports on Form 8-K that we filed during that period.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

None.

ITEM 5. OTHER INFORMATION.

Compensatory Arrangements Of Certain Officers

Effective December 28, 2006, we entered into management consulting services agreements with each of Robert Terberg, our current Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary, and currently a member of our Board of Directors, and Hugo van der Zee, currently the Chairman of our Board of Directors. The terms of our agreements with Mr. Terberg and Mr. van der Zee are disclosed in our Annual Report filed with the SEC on January 16, 2007.

ITEM 6. EXHIBITS.

Exhibit
Number Description of Exhibit
3.1 Restated Articles of Incorporation filed with the Nevada Secretary of State effective December 27, 2004.(5)
3.2 Bylaws, effective March 2, 2000.(1)
10.1 Share Purchase Agreement between Water-Capital-Holding Ltd., V G Tech, Inc., Aqua Society GmbH and Steve Livingston, dated for reference September 3, 2004.(2)
10.2 Agreement and Deed of Transfer between Water-Capital-Holding Ltd. and V G Tech, Inc. dated for reference September 22, 2004.(3)
10.3 Certified Translation of a Notarial Deed executed by Uwe Diestel and Aqua Society G

[krofisch]

Antwort auf Beitrag Nr.: 27.988.157 von wohinistmeinGeld am 26.02.07 19:24:28

Wie zu erwarten war, drückst du dich natürlich schon wieder um die Beantwortung der dir peinlichen Fragen aus #4935:


Nicht wieder Ablenken - \\\\\\'LÜGE\\\\\\' endlich zugeben!


Auf der Homepage habt ihr die Meldung über die Machbarkeitsstudie mit Coca Cola vom 20.10.05 ja gelöscht,

Ein Schelm ist, wer dies für eine \\\\\\'wohinistmeinGeld-Lüge\\\\\\' hält.

Ich habe die News auf der AQUA-Homepage gefunden:

unter
Meldungen
Aqua Society führt für Coca-Cola India eine Machbarkeitsstudie zur Wassergewinnung aus der Luft durch

- 20. Oktober 2005

Die Aqua Society, Inc. plant für Coca-Cola India

Was kannst du eigentlich?
Nicht mal einen Link richtig anklicken?
Oder: Brille Fielmann!

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.988.303 von krofisch am 26.02.07 19:30:41

in diesem Bericht stehen die Einnahmen aus den 4 Anlagen welche die Chinesen schon vor fast 2 Jahren erhalten haben aber nicht.

In welchem Bericht kann ich die finden, ich habe keine Lust alle Berichte seit April 2005 zu durchsuchen.

[Teddybear]

Antwort auf Beitrag Nr.: 27.988.618 von wohinistmeinGeld am 26.02.07 19:43:58

Ich glaube es hat wenig Sinn, mit einem völlig Durchgeknallten ein Gespräch führen zu wollen. Schau doch seine Postings an, damit würde er auch in einem Forum von Zehnjährigen unangenehm auffallen.

Natürlich kannst Du immer wieder das Stöckchen werfen um ihn vorzuführen. Aber wozu? Etliche hundert pathologische Postings sprechen eine deutliche Sprache. Ernstnehmen wird ihn schon lange niemand mehr.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 27.992.112 von Teddybear am 26.02.07 22:54:55

wenn er erst 6 Jahre alt ist, dann muß man ihn ernst nehmen wenn er schon schreiben kann,-- obwohl, er kopiert ja nur, und das kann auch ein 6 jähriger, selber schreiben scheint ihm schwer zu fallen.

[westfale64]

#4943: Die Abzockmethoden Aquas kann jeder im Quartalsbericht nachlesen.
In #4943 stehen die Übersetzungen.

Und weil Aquas Pusher natürlich wieder nicht erklären kann wofür die Aqua-Gründer Hamm und Stamm sich selbst die Millionenprovisionen zuschieben kann er diese peinlichen Sachverhalte nur zumüllen - denn sonst kaufen die Lemminge den Altaktionären Hamm und Stamm ihre Schrottaktien nicht mehr ab.

[krofisch]

Antwort auf Beitrag Nr.: 27.992.112 von Teddybear am 26.02.07 22:54:55

Etliche hundert pathologische Postings 'des Teddybären' sprechen eine deutliche Sprache. Ernstnehmen wird 'den Teddybären' schon lange niemand mehr.

[krofisch]

Antwort auf Beitrag Nr.: 27.996.525 von westfale64 am 27.02.07 10:11:25

Steht da etwa schon wieder nur die typische sehr kreative und merkwürdige 'Übersetzungskunst' von 'Pinochio',
der evtl. so manchen mit seinen kopierten Hasspostings doch sehr an ehemalige wegen Unfähigkeit entlassene Hamm-Mitarbeiter erinnert?

Macht nichts.
Hier ist das Original:

http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

[krofisch]

Antwort auf Beitrag Nr.: 27.992.799 von wohinistmeinGeld am 26.02.07 23:59:21

wenn er erst 6 Jahre alt ist,

Dann bist du wohl erst 5 Jahre?

[krofisch]

Antwort auf Beitrag Nr.: 27.992.112 von Teddybear am 26.02.07 22:54:55

Ich glaube es hat wenig Sinn, mit einem völlig Durchgeknallten ein Gespräch führen zu wollen.

Du Armer!
Deshalbt spricht wohl keiner mit Dir!

[krofisch]

Antwort auf Beitrag Nr.: 27.988.618 von wohinistmeinGeld am 26.02.07 19:43:58

In welchem Bericht kann ich die finden, ich habe keine Lust alle Berichte seit April 2005 zu durchsuchen.


Wieder zu faul zum Lesen und wieder nur von der Frage in #4948 ablenken wollen!

[krofisch]

Antwort auf Beitrag Nr.: 27.988.618 von wohinistmeinGeld am 26.02.07 19:43:58

Du kannst auch sonst NICHTS!

Außer:
Zitat: wohinistmeinGeld:
Ich bin schon oft genug darauf reingefallen, ich glaube es wird Zeit zu kündigen.
oder

Zitat: wohinistmeinGeld:
wo mein Geld ist weiß ich übrigens trotzdem nicht, ich weiß nur das es weg ist

[westfale64]

Aquas bestellter Forenpusher ist fast zu bedauern. Er muss eine 8-Mann-Abzockfirma schönlügen, die ausser Millionenprovisionen an die Gründer und Vorstände zu zahlen, die Homepage mit mehreren Dutzend erfundenen Aufträgen vollzuschreiben und den Dummen mit diesen Lügengeschichten wertlose Aktien anzudrehen, keinerlei Aktivität zeigt.
Man kann ihm nur wünschen, dass er für diese Beihilfe zum Betrug (mMn) gut bezahlt wird.
Denn dass diese Abzocke nach altbekanntem OTC-Muster, die hier einen zweistelligen Millionenbetrag erreicht, regelmässig mit Haftstrafen endet dürfte auch ihm bekannt sein.





#4943: Die Abzockmethoden Aquas kann jeder im Quartalsbericht nachlesen.
In #4943 stehen die Übersetzungen.

[krofisch]

Antwort auf Beitrag Nr.: 28.009.888 von westfale64 am 27.02.07 18:48:59

Und wieder nur der verzweifelte Hinweis auf das schon x-mal kopierte Posting:

Da steht aber doch nur immer noch die typische sehr kreative und merkwürdige \'Übersetzungskunst\' von \'Pinochio\',
der evtl. so manchen mit seinen kopierten Hasspostings doch sehr an ehemalige wegen Unfähigkeit entlassene Hamm-Mitarbeiter erinnert?

Macht nichts.
Hier ist das Original:

http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

[Borealis]

Antwort auf Beitrag Nr.: 28.009.362 von krofisch am 27.02.07 18:27:10

"doch sehr an ehemalige wegen Unfähigkeit entlassene Hamm-Mitarbeiter erinnert?"

Wegen Erfolglosigkeit gefeuerte Aktien-Telefonverkäufer. Davon soll Aqua nach eigener Aussage in einer Pressemeldung ja mal 120 beschäftigt haben.
"Das an der Deutschen Börse in Frankfurt (WKN: A0B8DT, ISIN: Frankfurt BB: US9182212012) sowie der New Yorker Nasdaq (OTC BB: VGTE.OB) gehandelte Unternehmen setzt auf erprobte Technologien in den Bereichen Wasser, Kälte und Energie. Besondere Kernkompetenzen liegen in der Weiterentwicklung dieser Technologien und bei deren Transfer in neue Anwendungsgebiete. In Deutschland beschäftigt die Unternehmensgruppe zurzeit an mehreren Standorten 120 Mitarbeiter."
http://www.finanzen.net/news/news_detail.asp?NewsNr=256548

[krofisch]

Antwort auf Beitrag Nr.: 28.009.888 von westfale64 am 27.02.07 18:48:59

Wie schön, dass du diesen 'Wunschtraum' nun schon seit etwa 2 Jahren träumst!

Wie gut. dass deine 'Wunsch-Träume' noch nie in Erfüllung gegangen sind und es auch nie werden!

'Pinochio' hat nämlich seit 2 Jahren offenbar viel zu große Angst vor dem 'Staatsanwalt und der Polizei'! Er traut sich daher auch rein gar nichts!

[krofisch]

Antwort auf Beitrag Nr.: 28.010.117 von Borealis am 27.02.07 18:59:57

Borealis fantasiert schon wieder:

Bei ihm ist jeder Mitarbeiter ein Telefonverkäufer!

Liegt das etwa an zu vielen Promille?

Du solltest dir dringend professionelle Hilfe holen!

[krofisch]

Antwort auf Beitrag Nr.: 28.009.888 von westfale64 am 27.02.07 18:48:59

Wenigstenms sind die vielen Leerzeilen nicht gelogen!

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 28.009.724 von krofisch am 27.02.07 18:41:31

Also, da ich nichts finden kann, und du auch nicht erklären kannst wo diese Einnahmen verbucht sein sollen stelle ich fest, es gibt keine Einnahmen aus 4 Kälteanlagen die nach China geliefert wurden.

Das heißt es gibt 2 Möglichkeiten:
1. Die Anlagen wurden geliefert aber nie bezahlt, also ein Spende, Werbegeschenk oder sonst was, aber kein Geschäft.
2. Es sind deshalb keine Einnahmen verbucht weil die Anlagen auch nie geliefert wurden was dann ein klare Lüge auf der Homepage wäre.

Ich werde deshalb heute noch eine Anfrage an Aqua schicken mit der bitte um Aufklärung.

[krofisch]

Antwort auf Beitrag Nr.: 28.010.261 von wohinistmeinGeld am 27.02.07 19:05:51

Also, da ich nichts finden kann

Vielleicht bist du einfach nur zu dumm zum finden!

Was meinst du wohl, wo diese Umsätze (siehe letzte Jahresberichte) her kommen
aktuell $2,203,763 und vorher $896,535 ?

[krofisch]

Antwort auf Beitrag Nr.: 28.010.261 von wohinistmeinGeld am 27.02.07 19:05:51

Bei dir gab es auch nur 2 Möglichkeiten:


1. Zitat: wohinistmeinGeld:
Ich bin schon oft genug darauf reingefallen, ich glaube es wird Zeit zu kündigen.

oder

2. Zitat: wohinistmeinGeld:
wo mein Geld ist weiß ich übrigens trotzdem nicht, ich weiß nur das es weg ist

[krofisch]

Antwort auf Beitrag Nr.: 28.010.261 von wohinistmeinGeld am 27.02.07 19:05:51

3. Möglichkeit:

Oder du bist einfach wieder nur zu faul zum Lesen und willst wieder nur von der Frage in #4948 ablenken!

[westfale64]

krofisch kann diese Abzocke wieder mal nicht erklären.




Hier die Belege aus Aquas neuem Quartalsbericht (wörtlich übersetzt), die zeigen, dass Aqua noch nie ein eigenes Produkt verkauft gekriegt hat und dass die Initiatoren die Anlegermillionen mittels „management fees“ in die eigene Tasche verschieben. Auch die Belege für die sich ankündigende Insolvenz mangels Massesind dort zu lesen. Für die Leser, die die englische Fassung (rot)nicht verstehen habe ich die wörtliche Übersetzung dazugeschrieben.



„We currently have eight full-time employees.“Wörtlich übersetzt: Wir haben derzeit 8 Vollzeitangestellte.

Eine 8-Mann-Klitsche, die Millionen an die Gründer Hamm und Stamm verschiebt. Wofür ?




„As of September 30, 2006, the date of our most recently available financial statements, we had a working capital deficit of $2,059,410.“Wörtlich übersetzt: Am 30.Sep.2006….hatten wir ein Arbeitskapitaldefizit von $2.059.410.

Der Laden ist also mit 2 Mio. überschuldet.





„The revenues that we earned during the year ended September 30, 2006 were earned from services that we provided and equipment sales in connection with HVAC&R“Wörtlich übersetzt: Die Einnahmen, die wir bis zum30.Sep. 2006 hatten entstanden durch Service und Equipmentverkäufe in Verbindung mit HVAC&R.

Zur Erinnerung: Die Aktionäre bezahlen Herrn Hamm zweimal: Einmal mit den 20000 monatlichen Vorstandsbezügen und dann noch als Auftragnehmer (HVAC&R)
Der Beleg, dass Aqua weder mit „Aquamission“ noch mit „Thermomission“ oder „Energymission“ auch nur einen einzigen Euro eingenommen hat.





„Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products,“Wörtlich übersetzt: Auch wenn wir Orders für Thermomobil,Aquamission und Energymission erhalten haben, haben wir noch keine Einnahmen durch den Verkauf eines dieser Produkte erhalten.

Wer soll den unbrauchbaren Quatsch auch kaufen ?




„We incurred management fees of $716,231 during the year ended September 30, 2006. Of this amount, $147,529 were paid to Stamm & Lang Rechtsanwalte, a German law firm of which Achim Stamm, our former Chief Financial Officer, Secretary, Treasurer and a former director, is a partner, pursuant to a management consulting contract. An additional $173,140 was paid to Stamm & Lang in lieu of notice upon termination of our agreement with them in February, 2006. Also included in management fees are amounts charged under a management consulting contract with Hubert Hamm, a managing director of Aqua GmbH, and the lead consultant for research and development for Aqua GmbH’s HVAC&R department.“Wörtlich übersetzt: $716.231 wurden bis zum 30. Sep.2006 bezahlt. $147.529 davon wurden an Stamm und Lang Rechtsanwälte bezahlt, eine Kanzlei bei der Stamm, unser früherer CFO….. und früherer Direktor, Partner ist. Zusätzliche $173.140 wurden an Stamm und Lang…. im Feb.2006 bezahlt.Auch in den „management fees“ enthalten sind Zahlungen an Hubert Hamm….

Millionen für Hamm und Stamm. Daher die Verluste.




„Included in current liabilities are a total of $1,441,507 payable to a law firm of which, Achim Stamm, one of our former officers and directors, is a partner.“Wörtlich übersetzt: Eingeschlossen sind Schulden/Verbindlichkeiten bei Stamm……in Höhe von $1.441.507.

Und noch ein Nachschlag für die Abzocker.




„As at September 30, 2006 we had cash in the amount of $187,432 and a working capital deficit of $2,059,410.“Wörtlich übersetzt:Am 30.Sep.2006 hatten wir $187.432 cash auf dem Konto und ein Arbeitskapitaldefizit in Höhe von $2.059.410.

Klar, dass die Bude überschuldet ist: Nichts verkauft, aber die Aqua-Gründer stecken sich die Anlegermillionen ein.




„we have not yet achieved profitability. We anticipate that we will continue to incur losses for the foreseeable future“Wörtlich übersetzt: Wir haben noch keinen Gewinn erzielt. Wir vermuten, dass wir auch in absehbarer Zukunft nur Verluste einfahren werden.



„We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability and we anticipate that we will continue to incur substantial losses in the foreseeable future.“Wörtlich übersetzt: Wir haben keine ausreichenden finanziellen Resourcen um die erwarteten Kosten unseres Operationsplans und unsere Schulden/Verbindlichkeiten für die nächsten 12 Monate zu bezahlen.Wir haben noch keine Gewinne gemacht und vermuten, dass wir in absehbarer Zukunft auch weiterhin Verluste machen werden.

Aqua hat kein Geld um die nächsten 12 Monate zu überleben. Klar bei dieser Aktionärsabzocke.






Die abgezockten Aqua –Aktionäre sollten lieber die Quartalsberichte lesen, anstatt sich von den vielen Auftragsmärchen einlullen zu lassen. Dann wüssten sie, dass die Aqua-Gründer nur die folgenden Ziele verfolgen:
-Verkauf der 100 Mio. Altaktien dieser Abzockbude vor der Insolvenz
-Kassieren der happigen Vorstandsgehälter solange diese Bande das Märchen am Laufen halten kann
-Kassieren von unbegründbaren „management fees“ solange der Laden noch nicht insolvent ist.






Und dieser Millionenbesch… soll ohne Strafverfahren wegen Betruges enden ?

[krofisch]

Antwort auf Beitrag Nr.: 28.010.837 von westfale64 am 27.02.07 19:36:15

Da steht ja schon wieder nur die typische sehr kreative und merkwürdige \\'Übersetzungskunst\\' von \\'Pinochio\\',
der evtl. so manchen mit seinen kopierten Hasspostings doch sehr an ehemalige wegen Unfähigkeit entlassene Hamm-Mitarbeiter erinnert?

Macht nichts.
Hier ist das Original:

http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

10QSB 1 form10qsb.htm QUARTERLY REPORT FOR THE PERIOD ENDED DECEMBER 31, 2006
--------------------------------------------------------------------------------

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-QSB

(Mark One)

[ X ] Quarterly Report Under Section 13 Or 15(d) Of The Securities Exchange Act Of 1934
For the quarterly period ended December 31, 2006

[ ] Transition Report Under Section 13 Or 15(d) Of The Securities Exchange Act
For the transition period from ________to ________

COMMISSION FILE NUMBER 000-50163

AQUA SOCIETY, INC.
(Exact name of small business issuer as specified in its charter)

NEVADA 52-2357931
(State or other jurisdiction of incorporation or (IRS Employer Identification No.)
organization)

Konrad - Adenauer Strasse 9-13
45699 Herten, Germany
(Address of principal executive offices)

011-49-6031-791-760
Issuer's telephone number

Not Applicable
Former name, former address and former fiscal year, if changed since last report

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 [ X ] No [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: As of February 20, 2007 the Issuer had 118,178,323 Shares of Common Stock outstanding.

Transitional Small Business Disclosure Format (check one): Yes [ ] No [X]

1


--------------------------------------------------------------------------------

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

2


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.

INTERIM CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2006

(Stated in US Dollars)

(Unaudited)


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED BALANCE SHEETS
December 31, 2006 and September 30, 2006
(Stated in US Dollars)
(Unaudited)

December 31, September 30,
ASSETS 2006 2006

Current
Cash $ 108,837 $ 187,432
Accounts receivable – trade 76,838 143,039
– other – Note 4 59,367 -
Government value added tax receivable 97,631 217,919
Inventory 332,389 306,569
Loans receivable 1 1

675,063 854,960
Investments – Note 3 2 2
Patents and patent rights 193,485 193,485
Equipment 53,811 65,343

$ 922,361 $ 1,113,790

LIABILITIES

Current
Accounts payable and accrued liabilities – Note 4 $ 527,018 $ 537,271
Loans payable – Notes 4 and 5 3,165,735 2,377,099

3,692,753 2,914,370

STOCKHOLDERS’ DEFICIENCY

Common stock, $0.001 par value – Notes 6 and 8
300,000,000 shares authorized
118,178,323 shares issued and outstanding (September 30, 2006:
118,178,323 shares) 118,179 118,179
Additional paid-in capital 28,690,854 28,609,612
Accumulated other comprehensive loss (246,705 ) (150,368 )
Accumulated deficit (31,332,720 ) (30,378,003 )

(2,770,392 ) (1,800,580 )

$ 922,361 $ 1,113,790

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Sales $ 25,441 $ 782,242
Less: cost of goods sold 580 593,010

24,861 189,232

General and administrative expenses:
Accounting and audit fees 73,443 57,121
Advertising and promotion 19,329 58,187
Amortization 5,899 6,584
Bad debts 28,431 43,685
Bank charges and interest 117 85
Consulting fees 36,634 177,085
Development costs – Note 4 268,919 412,455
Filing fees 867 121
Interest 57,256 57,088
Legal fees – Note 4 130,228 36,264
Management fees – Note 4 57,988 124,857
Office and miscellaneous 23,270 66,274
Rent 26,154 28,917
Salaries and benefits 154,052 96,888
Stock-based compensation 57,242 -
Transfer agent 225 815
Travel – Note 4 39,524 80,478
Write down of patents - 8,994
Write down of inventory - 63,928

(979,578 ) (1,319,826 )

Operating loss before other item (954,717 ) (1,130,594 )

Other item:
Interest income - 5,292

Net loss for the period (954,717 ) (1,125,302 )

Other comprehensive loss
Foreign currency adjustment (96,337 ) (2,551 )

Comprehensive loss for the period $ (1,051,054 ) $ (1,127,853 )

Basic loss per share $ (0.01 ) $ (0.01 )

Weighted average number of shares outstanding 118,178,323 115,771,988

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Cash flows used in Operating Activities
Net loss for the period $ (954,717 ) $ (1,125,302 )
Items not affecting cash:
Amortization 5,899 6,584
Stock-based compensation 57,242
Write-down of patents - 8,994
Write-down of inventory - 63,928
Interest imputed on loans payable 24,000 -
Changes in non-cash working capital items:
Accounts receivable 10,882 (126,415 )
Government value added tax receivable 126,004 12,329
Inventory (13,251 ) 9,748
Accounts payable and accrued liabilities (23,954 ) 526,835

(767,895 ) (623,299 )

Cash flows used in Investing Activities
Equipment disposal 5,634 48,178
Repayment of loans receivable - (68,388 )

5,634 (20,210 )

Cash flows from Financing Activity
Increase in loans payable 677,508 174,408

Effect of exchange rates on cash 6,158 (7,730 )

Decrease in cash during the period (78,595 ) (476,831 )

Cash, beginning of the period 187,432 658,949

Cash, end of the period $ 108,837 $ 182,118

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Capital stock issued for cash 1 $ 31,042 $ - - $ - $ - $ - $ 31,042
Contribution of assets - - 25,056 - - - - 25,056
Pursuant to the acquisition of Aqua
Society GmbH 10,000,000 10,000 - 34,000,000 34,000 - - 44,000
Exchange of shares (1 ) (31,042 ) - - - - - (31,042 )
Outstanding shares of Company
prior to acquisition 69,908,000 69,908 - - - - (194,748 ) (124,840 )
Unrealized loss on translation - - - - - (997 ) - (997 )
Net loss for the period - - - - - - (67,448 ) (67,448 )

Balance, September 30, 2004 79,908,000 79,908 25,056 34,000,000 34,000 (997 ) (262,196 ) (124,229 )

Issued for cash:
Pursuant to private placement - at $2.40 416,666 417 999,583 - - - - 1,000,000
- at $1.98 1,232,322 1,233 2,438,766 - - - - 2,439,999
Pursuant to exercise of options - at $1.70 215,000 215 365,285 - - - - 365,500
Conversion of special warrants 34,000,000 34,000 - (34,000,000 ) (34,000 ) - - -
Stock-based compensation - - 22,480,000 - - - - 22,480,000
Unrealized gain on translation - - - - - 89,594 - 89,594
Net loss for the year - - - - - - (25,787,558 ) (25,787,558 )

Balance, September 30, 2005 115,771,988 115,773 26,308,690 - - 88,597 (26,049,754 ) 463,306

Pursuant to private placement - at $1.04 1,160,960 1,161 1,206,237 - - - - 1,207,398
- at $0.88 1,245,375 1,245 1,094,685 - - - - 1,095,930
Unrealized loss on translation - - - - - (238,965 ) - (238,965 )
Net loss for the period - - - - - - (4,328,249 ) (4,328,249 )

Balance, September 30, 2006 118,178,323 118,179 28,609,612 - - (150,368 ) (30,378,003 ) (1,800,580 )

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

Continued

AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Stock-based compensation - - 57,242 - - - - 57,242
Unrealized loss on translation - - - - (96,337 ) - (96,337 )
Contribution of interest – Note 5 - - 24,000 - - - - 24,000
Net loss for the period - - - - - - (954,717 ) (954,717 )

Balance, December 31, 2006 118,178,323 $ 118,179 $ 28,690,854 - $ $ (246,705 ) $ (31,332,720 ) $ (2,770,392 )

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2006
(Stated in US Dollars)
(Unaudited)

Note 1 Interim Reporting

While information presented in the accompanying interim consolidated financial statements is unaudited, it includes all adjustments, which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented. All adjustments are of a normal recurring nature. The accompanying interim consolidated financial statements do not include all information and footnote disclosures required for an annual set of financial statements prepared under generally accepted accounting principles in the United States of America. The accompanying interim consolidated financial statements should be read in conjunction with the Company’s September 30, 2006 audited consolidated financial statements. Operating results from the period ended December 31, 2006 are not necessarily indicative of the results that can be expected for the year ending September 30, 2007.


Note 2 Nature and Continuance of Operations

These interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for the next twelve months. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. At December 31, 2006, the Company had not yet achieved profitable operations, has accumulated losses of $31,332,720 since its inception, has a working capital deficiency of $3,017,690 and expects to incur further losses in the development of its business, all of which casts substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations 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 considers that the Company will be able to obtain additional funds by equity financing and/or related party advances; however there is no assurance of additional funding being available.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 2
(Unaudited)

Note 3 Investments

i) UFI Tec GmbH

By an agreement dated November 30, 2004 and effective December 10, 2004, the Company acquired a 33% interest in UFI-Tech GmbH (“UFI”), a German limited company, for consideration of EUR 25,565 (US $32,476). During the year ended September 30, 2005, the Company wrote down the $32,476 investment and related loans receivable of $67,227 to their net realizable value of $1. During the year ended September 30, 2006, the Company sold 13.1% of their 33% interest (19.9% interest remains) for proceeds of EUR 10,072 (US $12,237) and wrote down an additional loan receivable of $66,094 to its net realizable value of $1.

ii) By an agreement dated February 18, 2006, the Company acquired a 51% interest in TMR GmbH (“TMR”), a German limited company, in consideration of EUR 12,750 (US $15,999). TMR is involved in the development, installation, distribution and management of renewable resources. At the date of acquisition, TMR had no business, assets or liabilities. During the year ended September 30, 2006, the Company wrote down its investment by $15,674 (EUR 12,749) to $1. During the three months ended December 31, 2006, the Company disposed of its interest in TMR for $1.

Note 4 Related Party Transactions – Note 7

The Company incurred the following amounts charged by directors of the Company, the brother of a director of the Company and a law firm of which a former director of the Company is a partner:

Three months ended
December 31,
2006 2005

Development costs $ 88,013 $ 191,595
Legal fees - 26,073
Management fees 57,988 124,857
Travel - 1,780

$ 146,001 $ 344,305

Accounts receivable – other includes $59,367 related to an advance to a former officer of the Company.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 3
(Unaudited)

Note 4 Related Party Transactions – Note 7 – (cont’d)

Included in accounts payable and accrued liabilities is $77,498 (September 30, 2006: $79,358) due to directors of the Company and a former director of the Company. These amounts are unsecured, non-interest bearing and have no specific terms for repayment.

Included in loans payable is $1,527,238 (September 30, 2006: $1,441,507) due to a law firm of which a former director of the Company is a partner.

Note 5 Loans Payable

Of the total loans outstanding at December 31, 2006, $950,886 (September 30, 2006: $883,822) bear interest at 7.5% per annum, are secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $773,403 (September 30, 2006: $743,675) are non-interest bearing, secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $1,319,261 (September 30, 2006: $634,276) are non-interest bearing, unsecured and due on demand, and $122,185 (September 30, 2006: $115,326) of loans payable bear interest of 7.5% per annum, are unsecured and are repayable on or before December 31, 2006. The loans due on or before December 31, 2006 were not repaid and are consequently in default. The company has imputed interest on the non-interest bearing loans at 10% per annum for a total of $24,000 during the three months ended December 31, 2006.

Note 6 Capital Stock – Note 8

Commitments:

Share Purchase Options

On December 21, 2006, the Company adopted a second stock incentive plan (the “2006 Stock Option Plan”) to provide incentives to employees, directors, officers and permitted consultants. The 2006 Stock Plan provides for the issuance of up to 7,000,000 options with a term to be determined by the plan administer or, if not so established, ten years. The maximum aggregate number of shares that may be optioned under the 2006 Stock Option Plan will be increased effective the first day of each of the Company’s fiscal quarters (“adjustment date”), beginning with the fiscal quarter commencing April 1, 2007 by an amount equal to the lesser of i) 15% of the outstanding shares on the first day of the applicable quarter less a) the number of shares of common stock that may be optioned and sold under the plan prior to the adjustment date and b) the number of shares of common stock that may be optioned and sold under any other stock option plan in effect as of the adjustment date or ii) such lesser number of shares of common stock as may be determined by the Board.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 4
(Unaudited)

Note 6 Capital Stock – Note 8 – (cont’d)

Commitments: – (cont’d)

Share Purchase Options – (cont’d)

A summary of the stock options outstanding as at December 31, 2006 and changes during the period is presented below:

Weighted
Average
Exercise
Shares Price

Options outstanding at September 30, 2006 7,535,000 $ 1.70
Granted 4,500,000 $ 0.40

Options outstanding at December 31, 2006 12,035,000 $ 1.21

Options exercisable at December 31, 2006 7,535,000

A summary of stock options outstanding at December 31, 2006, is as follows:

Exercise
Number Price Expiry Date

562,500 $0.40 April 1, 2009
562,500 $0.40 July 1, 2009
562,500 0.40 October 1, 2009
7,535,000 $1.70 October 15, 2009
562,500 $0.40 January 1, 2010
562,500 $0.40 April 1, 2010
562,500 $0.40 July 1, 2010
562,500 $0.40 October 1, 2010
562,500 $0.40 January 1, 2011

12,035,000

The Company used the Black-Scholes option pricing model to compute estimated fair value at each of the grant dates.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 5
(Unaudited)

Note 6 Capital Stock – Note 8– (cont’d)

Commitments – (cont’d)

Share Purchase Options – (cont’d)

The Black-Scholes option-pricing model requires the input of highly subjective assumptions including the expected price volatility. Changes in the subjective input assumptions can materially affect the fair value estimate and therefore the Black-Scholes model does not necessarily provide a reliable single measure of the fair value of the Company’s share purchase options.

The Company used the Black-Scholes option pricing model to compute the estimated fair value of the options granted during the three months ended December 31, 2006, based on the following assumptions:

Risk-free interest rate 4.84%
Dividend yield rate 0.00%
Price volatility 159.23%
Weighted average expected life of options 2.03 years
Weighted average fair value $0.36

The Company recognized stock-based compensation of $57,242 during the three months ended December 31, 2006.

Share Purchase Warrants

As at December 31, 2006, a total of 2,406,335 share purchase warrants exercisable into 2,406,335 common shares were outstanding as follows:

Exercise
Number Price Expiry Date

1,169,960 $1.30 February 9, 2008
1,245,375 $1.10 June 15, 2008

2,406,335


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 6
(Unaudited)

Note 7 Commitments

i) Lease Contracts

By four lease agreements dated September 30, 2004 and effective October 1, 2004, the Company entered into four lease contracts for the Company’s corporate head office. The leases require total payments of EUR 6,690 (US$8,826) per month. Two of the leases are effective until May 31, 2007 and the other two are effective until December 31, 2007. The leases will be automatically extended every year unless cancelled with six months advance notice.

Minimum future lease payments

September 30, 2007 $ 80,960
2008 12,144

$ 93,104

ii) Management/Consulting Contracts


a) By a management consulting contract dated September 30, 2004 and effective October 1, 2004, the Company’s subsididary (“GmbH”) agreed to pay EUR15,000 (US $19,789) per month to a managing director of GmbH for development, production and quality assurance services. The managing director of the GmbH is also a director of the Company. This contract is for an unlimited term but may be terminated by either party with six months advance notice.


b) By a consulting agreement dated October 1, 2004, the Company agreed to pay $2,000 per month to a consultant of the Company. The agreement is effective for a term of 5 years. The Company granted 500,000 common stock options upon signing of the agreement. The exercise price of the stock options is $1.70 per share and expires on October 15, 2009.


c) By a management consulting contract dated and effective October 1, 2004, the Company agreed to pay EUR 5,000 (US$6,274) per month for marketing and business development services. Effective October 1, 2005, the contract was amended to increase the payment to EUR 7,500 (US $9,411) per month. Effective October 1, 2006, the contract was amended to EUR 15,000 (US$19,028) per month for October, November and December, 2006. By an agreement dated November 1, 2006 and effective January 11, 2007, the Company agreed to the payment of EUR 2,000 (US $2,638) per month until December 31, 2007 and a 5% commission of gross sales to third parties which occurred as a result of the consultant’s work. The contract automatically renews for one year if not terminated at the end of a year by giving six months advance notice.



--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 7
(Unaudited)

Note 7 Commitments – (cont’d)

ii) Management/Consulting Contracts – (cont’d)

d) By a management consulting contract dated and effective January 1, 2005, the GmbH agreed to pay EUR 5,520 (US $7,002) per month for marketing, sales and distribution services. By an agreement dated November 10, 2006 and effective January 1, 2007, the contract was amended to decrease the payment to EUR 3,750 (US $4,947) per month with additional payments of EUR 10,000 (US $12,686) and EUR 5,000 (US$6,343) in November and December 2006 respectively. The contract ends on December 31, 2007 and may be terminated by either party with three months advance notice.

e) By a management consulting agreement dated August 1, 2005, the GmbH agreed to pay EUR 3,900 (US $5,145) per month for administration services for the research and development department. The contract is for an unlimited term and may be terminated by either party by giving six months advance notice.

f) By a management consulting contract dated December 12, 2005 and effective January 1, 2006, the GmbH agreed to pay EUR 20,000 (US $25,371) per month to March 31, 2006 and EUR 25,000 (US $31,714) per month to December 31, 2006 for technical services. Effective September 18, 2006, the contract was amended and the payment was decreased to EUR 10,000 (US$ 12,686) per month and extended to June 30, 2007. The management consulting contract is with a company owned by a director of the Company.

g) By a management consulting contract dated November 10, 2004, the Company agreed to pay EUR 500 (US $660) per press release to a former director of the Company. This contract is for an unlimited term but may be terminated by either party with one month advance notice.

h) By management consulting agreements dated December 28, 2006, the Company agreed to pay directors of the Company a total of EUR 56,000 (US $73,879) for the period October 1, 2006 to December 31, 2006 and EUR 14,000 (US $18,470) per month for the period January 1, 2007 to September 30, 2007. The contract is for an unlimited term but may be terminated by either party with three months advance notice.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 8
(Unaudited)

Note 8 Subsequent Event

Subsequent to December 31, 2007, the Company approved a private placement offering of 7,500,000 units at $0.30 per unit with each unit consisting of one share of the Company’s common stock and one-half share purchase warrant for total proceeds of $2,250,000. Each share purchase warrant entitles the holder to purchase one additional share of the Company’s common stock at $0.35 per share for a period of one year from the date of issuance of the units.


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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this Quarterly Report constitute "forward-looking statements". These statements, identified by words such as “plan”, "anticipate," "believe," "estimate," "should," "expect" and similar expressions include our expectations and objectives regarding our future financial position, operating results and business strategy. These statements reflect the current views of management with respect to future events and are subject to risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from those described in the forward-looking statements. Such risks and uncertainties include those set forth under the caption "Management's Discussion and Analysis or Plan of Operation" and elsewhere in this Quarterly Report. We do not intend to update the forward-looking information to reflect actual results or changes in the factors affecting such forward-looking information. We advise you to carefully review the reports and documents we file from time to time with the United States Securities and Exchange Commission (the “SEC”), particularly our Annual Reports on Form 10-KSB and our Current Reports on Form 8-K.

As used in this Quarterly Report, the terms "we", "us", "our", “the Company” and “Aqua Society” mean Aqua Society, Inc. unless otherwise indicated. All dollar amounts in this Quarterly Report are in U.S. dollars unless otherwise stated.

INTRODUCTION

The following discussion and analysis summarizes our plan of operation for the next twelve months, our results of operations for the three month period ended December 31, 2006 and changes in our financial condition from September 30, 2006. This discussion should be read in conjunction with the Management’s Discussion and Analysis or Plan of Operation included in our Annual Report on Form 10-KSB for the year ended September 30, 2006.

We were incorporated under the laws of the State of Nevada on March 2, 2000, under the name “V G Tech, Inc.”

On September 22, 2004, we completed the acquisition of Aqua Society GmbH (“Aqua GmbH”). Prior to our acquisition of Aqua GmbH, we were in the business of providing services in the areas of digital graphics and special effects. Upon completing the acquisition of Aqua GmbH, we abandoned this digital imaging business. We are now in the business of designing and developing applied technologies, and providing consulting services, in the areas of heating, ventilation, air conditioning, refrigeration, water purification, waste water treatment, and, our latest business segment, energy (collectively, the “Aqua Business”).

Effective December 27, 2004, we changed our name to “Aqua Society, Inc.” to better reflect the nature of our current business operations

Recent Corporate Developments

The following significant corporate developments have occurred since our fiscal year ended September 30, 2006:

1. After the completion of our 2006 fiscal year, we completed the construction of a demonstration prototype of our EnergyMission / Yellow Box technology. A media event to showcase this demonstration model was held at our facilities on December 21, 2006. This demonstration unit will be used by us for marketing and demonstration purposes as well as for research and development.


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2. On December 21, 2006, our Board of Directors approved and adopted our 2006 Stock Option Plan (the “2006 Option Plan”). Under the 2006 Option Plan, options may be granted for a maximum of 7,000,000 shares of our common stock. The maximum number of shares that may be optioned under the 2006 Option Plan will increase each fiscal quarter, beginning with the fiscal quarter commencing April 1, 2007, by an amount equal to 15% of the total increase in the number of shares of common stock outstanding or such lesser amount as may be determined by our Board of Directors.


A summary of our 2006 Option Plan is set forth in our Current Report on Form 8-K filed with the SEC on December 29, 2006. The full text of the 2006 Option Plan is attached as Exhibit 10.1 to our Current Report on Form 8-K filed with the SEC on December 29, 2006, and is incorporated by reference herein.


3. Also on December 21, 2006, our Board of Directors approved the grant of options under the 2006 Option Plan for 2,500,000 shares of our common stock at an exercise price of $0.40 per share to Mr. Terberg and options to purchase an aggregate of 2,000,000 shares of our commons stock to Mr. van der Zee, also at a price of $0.40. The options granted to each of Mr. Terberg and Mr. van der Zee vest in equal quarterly instalments, commencing on April 1, 2007 and expiring 2 years after the applicable vesting date.


Changes to the Board of Directors and Executive Officers

In addition to the above corporate developments, there have been a number of changes to our Board of Directors and executive officers since the end of our 2006 fiscal year.

Effective October 31, 2006, Robert Terberg replaced Petrus Lodestijn as our Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary and also as a member of our Board of Directors. Also effective on October 31, 2006, our Board of Directors was expanded by the appointment of Hubert Hamm as a director of the Company and by the appointment of Hugo van der Zee as the Chairman of the Company’s Board of Directors.

PLAN OF OPERATION

During the next twelve months, we will focus: (1) on the design and construction of products ordered from us; (2) on further developing the market for our products; and (3) on continuing to develop and improve our products. Specifically, our plan of operation for the next twelve months involves the following:

1. Design and Construction of Ordered Units: During the next twelve months, we will work on the design and construction of the waste heat power generation, AquaMission and ThermoMobil units for which we have received orders.


2. Market Development Activities: Over the next twelve months we intend to do the following in an effort to continue developing a market for our products and services:


(a) We have completed the construction of a prototype EnergyMission / Yellow Box unit that we will use for marketing and demonstration purposes, as well as for ongoing research and development. The prototype unit will be used by us to demonstrate the effectiveness of our technology to trade media and industry representatives on an ongoing basis.


(b) We are also in the process of setting up a wholly owned subsidiary in the Netherlands (the “Dutch Subsidiary”), through which we will seek to promote all of our products in the “Benelux” countries (Belgium, the Netherlands and Luxemberg). In addition, we intend to use the Dutch Subsidiary to establish an additional production facility to be located in


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the Netherlands. This production facility is expected to enable us to significantly expand our production capabilities from the limited facilities located in Herten, Germany. The Dutch Subsidiary is expected to be based in Zevenaar, near Arnhem, in the east of the Netherlands.


(c) We will continue to attempt to market the AquaMission combined air-conditioning and drinking water product in geographic locations with high ambient temperatures and relative humidity but without readily available sources of fresh water, such as the Persian Gulf and the Middle East. Three demonstration models of the AquaMission are currently on location in the Middle East. We are currently in the process of seeking new sales agents for our products in the Middle East.


We will continue to try and generate sales in the Middle East using these demonstration models.


In addition to these activities, we may also seek to increase brand awareness through various advertising activities and sponsorships.

3. Product Development Activities: During the next twelve months, we will also continue to work on further developing and improving our existing products in an effort to increase their marketability. As part of these efforts, we have developed and built a demonstration model of our Yellow Box technology.


We are also in the process of constructing a high-tech “climate room” that will allow us to simulate the world’s various humidity and temperature zones. This “climate room” will assist us in optimizing our AquaMission unit for different geographic locations.


We anticipate spending approximately $2,000,000 in pursuing our plan of operation over the next twelve months. As of December 31, 2006, the date of our most recently available financial statements, we had a working capital deficit of $3,017,690. As such, we do not have sufficient working capital to meet our expected needs over the next twelve months. Although we have recently begun to earn revenues, we have not yet earned a net profit and we do not expect to achieve profitability in the near future as we expect to continue to incur substantial product development, marketing and operating expenses. We are likely to continue to need substantial additional financing in order to implement our plan of operation. Our management expects that any additional financing that we obtain will likely be in the form of equity financing.

Our actual expenditures and business plan may differ from the one stated above. Our Board of Directors may decide not to pursue this plan. In addition, we may modify the plan based on available financing.

RESULTS OF OPERATIONS

First Quarter Summary

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Revenue $25,441 $782,242 (96.7)%
Cost of Goods Sold (580) (593,010) (99.9)%
General and Administrative Expenses (979,578) (1,319,826) (25.8)%
Other Items Nil (5,292) (100.0)%
Net Loss $(954,717) $(1,125,302) (15.2)%

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Revenues

During our last fiscal year, we earned revenues from HVAC&R and energy optimization consulting services, and from equipment sales made in connection with the provision of those services. However, we do not have a long-term history of earning revenues and, as a result, we are unable to accurately forecast future revenues. Readers are cautioned that our past operating results may not be indicative of future performance.

During the fiscal year ended December 31, 2006, our revenue decreased by 96.7% as compared to the same period ended in 2005. Since their appointment in October, 2006, our new executive officers and directors have been conducting a company wide review of our operations. During this period, we scaled back our HVAC&R and energy optimizing consulting activities. As a result, our revenues decreased substantially.

During the next twelve months, we intend to concentrate our resources on developing the market for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, as we believe that these products will provide us with the greatest opportunity for future profitability. As a result, we may continue to scale back the HVAC&R and energy optimization consulting services that we have provided in the past.

Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products, and there are no assurances that we will be able earn such revenues in the future.

Operating Costs and Expenses

Our operating expenses for the quarterly period ended December 31, 2006 consisted of the following:

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Accounting and audit fees $73,443 $57,121 28.6%
Advertising and promotion 19,329 58,187 (66.8)%
Amortization 5,899 6,584 (10.4)%
Bad debts 28,431 43,685 (34.9)%
Bank charges and interest 117 85 37.6%
Consulting fees 36,634 177,085 (79.3)%
Development costs 268,919 412,455 (34.8)%
Filing fees 867 121 616.5%
Interest 57,256 57,088 0.3%
Legal fees 130,228 36,264 259.1%
Management fees 57,988 124,857 (53.6)%
Office and miscellaneous 23,270 66,274 (64.9)%
Rent 26,154 28,917 (9.6)%
Salaries and benefits 154,052 96,888 (59.0)%
Stock-based compensation 57,242 Nil 100.0%
Transfer agent 225 815 (72.4)%

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Travel 39,524 80,478 (50.9)%
Write down of patents Nil 8,994 (100.0)%
Write down of inventory Nil 63,928 (100.0)%
Total General and Administrative Expenses $979,578 $1,319,826 (25.8)%

Our general and administrative expenses decreased by $340,248, or 25.8%, during the three month period ended December 31, 2006 as compared to 2005. This decrease in our general and administrative expenses was primarily generated as a result of the efforts of our current management to streamline our operations. During the next few months, we expect that our general and administrative expenses will continue to fluctuate somewhat as we continue to review and overhaul our current operations.

Management fees decreased by $66,869, or 53.6%, during the quarter ended December 31, 2006, primarily because of the termination of a management services contract under which we had been obligated to pay management fees of EUR 20,000 per month to a law firm of which a former officer and director is a partner. Also, during the last fiscal quarter, we scaled back some of our product development activities as our management conducted a company wide assessment of our operations. As a result, development costs, and consulting fees associated with our development activities, also decreased significantly during our last fiscal quarter. Office and travel expenses also decreased primarily as a result of our efforts to streamline our operations. Also contributing to the overall decrease in our general and administrative expenses from the quarter ended December 31, 2005 was the fact that, during our December 31, 2005 fiscal quarter, we recognized one-time patent and inventory write down charges totaling $72,922. No patent or inventory write down charges were recognized for the period ended December 31, 2006.

Offsetting the above decreases were significant increases in accounting and audit fees, legal fees and salaries and benefits. The increase in legal fees relates primarily to amounts incurred in connection with the negotiation of our patent licensing agreement with Ecoenergy Patent GmbH and in connection with the restructuring of our operations by our new management. The events giving rise to the additional amounts spent on legal fees are not expected to be ongoing. Accounting and auditing fees increased as a result of an increase in the amounts charged by our consulting accountants and by our independent auditors. The increase in salaries and benefits was a result of the hiring of two additional non-management employees.

Also, during the period ended December 31, 2007, we recorded stock-based compensation expenses of $57,242 on account of stock options granted to certain of our officers and directors during the period. No options or other stock-based compensation were granted during the period ended December 31, 2005.

LIQUIDITY AND CAPITAL RESOURCES

Working Capital

At At Percentage
December 31, 2006 September 30, 2006 Increase / (Decrease)
Current Assets $675,063 $854,960 (21.0)%
Current Liabilities (3,692,753) (2,914,370) 26.7%
Working Capital Surplus (Deficit) $(3,017,690) $(2,059,410) 46.5%

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Included in current liabilities are a total of $1,527,238 payable to a law firm of which one of our former officers and directors, is a partner. We are currently in negotiations with the former officer and director for the settlement of the amounts owed to him and his law firm.

Cash Flows

Three Months Ended December 31
2006 2005
Cash Flows used in Operating Activities $(767,895) $(623,299)
Cash Flows used in Investing Activities 5,634 (20,210)
Cash Flows from Financing Activities 677,508 174,408
Effects of Foreign Exchange Rates 6,158 (7,730)
Net Decrease in Cash During Period $(78,595) $(476,831)

During the period ended December 31, 2006, we obtained financing in the form of a EUR 500,000 loan. This loan is unsecured, non-interest bearing and payable upon demand.

Total loans payable at December 31, 2006 consist of the following amounts:

(a) $950,886, bearing interest at a rate of 7.5% per annum, secured by accounts receivable and repayable on or before December 31, 2006;


(b) $773,403, non-interest bearing, secured by accounts receivable and repayable on or before December 31, 2006;


(c) $122,185, bearing interest a rate of 7.5% per annum, unsecured and payable on or before December 31, 2006; and


(d) $1,319,261, non-interest bearing, unsecured and due on demand.


The amounts payable on or before December 31, 2006 have not yet been repaid and are past due. We are currently in negotiations with our creditors for the settlement and repayment of amounts owed to them.

As at December 31, 2006 we had cash in the amount of $108,837 and a working capital deficit of $3,017,690. We anticipate spending approximately $2,000,000 over the next 12 months in pursuing our plan of operation. We will require substantial additional financing in the next few months in order to pursue our current plan of operation.

Although we earned revenues during our fiscal year ended September 30, 2006, we did not earn significant revenues during the fiscal quarter ended December 31, 2006 and we have not yet achieved profitability. Our future financial results are uncertain due to a number of factors, many of which are outside of our control. These factors include, but are not limited to:

(a) our ability to commercially market our ThermoMobil and AquaMission products;


(b) our ability to develop a commercially marketable EnergyMission/Yellow Box product;


(c) our ability to raise additional capital necessary to implement our business strategy and plan of operation;


(d) our ability to compete with other existing technologies; and


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(e) the success of any marketing and promotional campaign which we conduct for our products once development is complete.


Due to the uncertainty regarding our future revenues and profitability, we expect that the majority of additional financing that we obtain, if any, will likely be in the form of equity financing. Our management does not expect sufficient debt financing to be available to us through traditional sources at this stage of our business.

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 are material to our stockholders.

CRITICAL ACCOUNTING POLICIES

The preparation of financial statements in conformity with generally accepted accounting principles requires our management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Our management routinely makes judgments and estimates about the effects of matters that are inherently uncertain.

We have identified certain accounting policies, described below, that are most important to the portrayal of our current financial condition and results of operations. Our significant accounting policies are disclosed in Note 3 to the interim financial statements included in this Quarterly Report.

Principles of Consolidation

The consolidated financial statements include the accounts of Aqua Society, Inc and our wholly owned subsidiary, Aqua Society GmbH, a German limited liability company (“Aqua GmbH”). All inter-company transactions have been eliminated.

Foreign Currency Translation

Our functional currency is United States dollars. Our subsidiary, Aqua GmbH, uses the Euro as its functional currency. Accordingly, assets and liabilities of Aqua GmbH are translated into US dollars at the exchange rate in effect at the balance sheet date and capital accounts are translated at historical rates. Income statement accounts are translated at the average rates of exchange prevailing during the period. Translation adjustments arising from the use of differing exchange rates from period to period are included in the Accumulated Other Comprehensive Gain/(Loss) account in Stockholders’ Equity.

Transactions undertaken in currencies other than the functional currency of the entity are translated using the exchange rate in effect as of the transaction date. Any exchange gains and losses would be included in the Statement of Operations.

Patents, Patent Rights and Amortization

Patents and patent rights are recorded at cost. We provide for the amortization of patents and patent rights on the straight-line basis over their estimated economic lives, estimated to be 5 years. Amortization is recorded upon the patents being awarded.

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RISKS AND UNCERTAINTIES

Need For Financing

We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability. We are likely to continue to need substantial additional financing in order to implement our long term business plan. There is no assurance that we will be able to acquire sufficient financing on terms acceptable to us or at all. If financing is not available or obtainable, our ability to meet our financial obligations and pursue our plan of operation will be substantially limited and investors may lose a substantial portion or all of their investment

Limited Operating History, Risks Of A New Business Venture

We are still in the process of developing our business and have only recently begun to earn revenues. Readers are cautioned that our past results may not be indicative of future performance.

Potential investors should be aware of the difficulties normally encountered by a new enterprise and the high rate of failure of such enterprises. The potential for future success must be considered in light of the problems, expenses, difficulties complications and delays encountered in connection with the development of a business in the area in which we intend to operate and in connection with the formation and commencement of operations of a new business in general. These include, but are not limited to, unanticipated problems relating to research and development programs, marketing, approvals by government agencies, competition and additional costs and expenses that may exceed current estimates. There is no history upon which to base any assumption as to the likelihood that we will prove successful, and there can be no assurance that we will ever achieve profitable operations.

If We Are Unable To Achieve Market Acceptance For Our Products, We Will Be Unable To Build Our Business

To date, we have completed technical development of our EnergyMission/Yellow Box, ThermoMobil and AquaMission products. However, we have only received a limited number of confirmed orders for these products. Our future success will depend upon the acceptance of our existing products, and other products that we develop, by the respective industries in which we intend to market those products. Achieving such acceptance will require significant investments in research and development and market development. The technologies upon which our products and services are based are relatively new and are evolving. Accordingly, in order to achieve commercial acceptance, we will have to educate prospective clients about the uses and benefits of our products.

Even If We Are Able To Develop A Commercial Market For Our Products, We May Not Have The Ability To Meet The Demand For Those Products

We intend to complete the construction of the initial AquaMission, ThermoMobil and EnergyMission/Yellow Box units ordered from us at our facilities located in Herten, Germany. However, the size of these facilities is limited.

We are currently in the process of establishing a wholly owned subsidiary in the Netherlands, with which we intend to establish a larger scale production facility. Further, we intend to seek supply contracts and/or joint venture/licensing agreements with independent manufacturing companies to manufacture our products on a large scale basis, however we have not yet entered into any such contracts or agreements.

Our Operations May Be Subject to Extensive Government Regulation

Our operations may be subject to extensive government regulations in the United States, Europe and elsewhere. In order to sell our products, we may have to satisfy numerous mandatory procedures,

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regulations, and safety standards established by international, federal and state regulatory agencies. Although we currently comply with stringent German regulations, there can be no assurance that we can successfully comply with all present and future government regulations worldwide.

Risks of International Business Operations

Although we are incorporated in the United States, the majority of our operating activities are conducted in Germany. Additionally, in the past, we have targeted markets for our products in the Persian Gulf and other developing parts of the world, such as Africa. As such, a significant portion of our business depends upon our ability to establish and maintain successful relationships with businesses and governments located outside of the United States. If we are unable to establish and maintain such relationships, we may not be able to implement our business plan or plan of operations.

In order to better manage the risks associated with our international operations, our management has decided to focus their business development efforts on markets near to our base of operations, such as Germany, the Netherlands and the rest of Europe.

Rapid Technological Changes In Our Industry Could Make Our Products Obsolete

The industry in which we intend to compete is characterized by rapid technological change and intense competition. New technologies, products and industry standards will develop at a rapid pace which could make our planned products obsolete. Our future success will depend upon our ability to develop and introduce product enhancements to address the needs of our customers.

Asserting And Defending Intellectual Property Rights May Impact Results Of Operations

The success of our business may depend on our ability to successfully defend our intellectual property rights. Future litigation may have a material impact on our financial condition even if we are successful in developing and marketing products. We may not be successful in defending or asserting our intellectual property rights.

An adverse outcome in any litigation or interference proceeding could subject us to significant liabilities to third parties and require us to cease using the technology that is at issue or to license the technology from third parties. In addition, a finding that any of our intellectual property rights are invalid could allow our competitors to more easily and cost-effectively compete. Thus, an unfavorable outcome in any patent litigation or interference proceeding could have a material adverse effect on our business, financial condition or results of operations.

The cost to us of any patent litigation or interference proceeding could be substantial. Uncertainties resulting from the initiation and continuation of patent litigation or interference proceedings could have a material adverse effect on our ability to compete in the marketplace. Patent litigation and interference proceedings could also absorb significant management time.

We May Be Subject To Product Liability Lawsuits

We may be subject to product liability claims. Such claims may absorb significant management time and could degrade our reputation and the marketability of our products. If product liability claims are made with respect to our products, we may need to recall the implicated product which could have a material adverse effect on our business, financial condition and results of operations. In addition, although we may maintain product liability insurance, we cannot be sure that such insurance will be adequate to cover potential product liability lawsuits. Insurance is expensive and in the future may not be available on acceptable terms, if at all. If a successful product liability claim or series of claims exceeds insurance coverage, it could have a material adverse effect on our business, financial condition and results of operations.

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If We Are Late In Filing Any Of Our Annual Or Quarterly Reports During The Next Two Years, Our Common Stock May Become Ineligible For Quotation On The OTC Bulletin Board, Which Would Negatively Affect The Market For Our Shares And Our Ability To Obtain Additional Financing.

On November 16, 2005, the SEC approved certain changes to NASD Rule 6530. As amended, NASD Rule 6530 provides that OTC Bulletin Board (“OTCBB”) issuers who are late in filing their annual or quarterly reports three times within a 24-month period will be ineligible for quotation on the OTCBB. In order to regain eligibility under this rule, the issuer would need to timely file all of its annual and quarterly reports due in a one year period. The amended NASD Rule 6530 does not apply to annual or quarterly reports for periods ended before October 1, 2005.

From time to time, we have been late in filing our quarterly and annual reports. If we are late in filing our annual or quarterly reports three times within a 24-month period, we may become ineligible for quotation on the OTCBB, which would negatively affect the market for our common stock. In addition, if our common stock is no longer eligible for quotation on the OTCBB, it may become more difficult for us to obtain additional equity financing as shares of our common stock will be less attractive to potential investors.

ITEM 3. CONTROLS AND PROCEDURES.

Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as of the end of the period covered by this report. Based on that evaluation, our principal executive officer and principal financial officer has concluded that our disclosure controls and procedures were not effective as we failed to timely file our periodic reports with the SEC on a number of occasions during the past fiscal year.

Our new management is in the process of taking measures to improve our disclosure controls and procedures in an effort to ensure that the information required to be disclosed is internally communicated and publicly reported within the time periods specified in the SEC’s rules and forms. In particular, we intend to engage outside consultants to assist us in the preparation of our accounting records and financial statements and will attempt to increase internal accountability and to clearly define internal communication channels in an effort to remedy the deficiencies identified by our principal executive officer and principal financial officer.

By working with our external consultants and our principal independent accountants, our management believes that the financial statements and the other information presented in this Quarterly Report are materially correct.

There were no changes in our internal control over financial reporting during the last fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

None.

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

All unregistered sales of our equity securities completed during our fiscal quarter ended December 31, 2006 have been previously reported in the Quarterly Reports on Form 10-QSB and Current Reports on Form 8-K that we filed during that period.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

None.

ITEM 5. OTHER INFORMATION.

Compensatory Arrangements Of Certain Officers

Effective December 28, 2006, we entered into management consulting services agreements with each of Robert Terberg, our current Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary, and currently a member of our Board of Directors, and Hugo van der Zee, currently the Chairman of our Board of Directors. The terms of our agreements with Mr. Terberg and Mr. van der Zee are disclosed in our Annual Report filed with the SEC on January 16, 2007.

ITEM 6. EXHIBITS.

Exhibit
Number Description of Exhibit
3.1 Restated Articles of Incorporation filed with the Nevada Secretary of State effective December 27, 2004.(5)
3.2 Bylaws, effective March 2, 2000.(1)
10.1 Share Purchase Agreement between Water-Capital-Holding Ltd., V G Tech, Inc., Aqua Society GmbH and Steve Livingston, dated for reference September 3, 2004.(2)
10.2 Agreement and Deed of Transfer between Water-Capital-Holding Ltd. and V G Tech, Inc. dated for reference September 22, 2004.(3)
10.3 Certified Translation of a Notarial Deed executed by Uwe Diestel and Aqua Society GmbH dated November 30, 2004 reg

[westfale64]

#4969:
Diese Selbstbedienung der Aqua-Vorstände Hamm und Stamm will Aquas bestellter Pusher genausowenig erklären wie Aqua selbst.
Wie sollem sie diese Millionenprovisionen an die eigenen (!) Vorstände auch erklären ?

Auch die in #4969 (WÖRTLICHE ÜBERSETZUNG DES QUARTALSBERICHTES)nachzulesende Tatsache, dass Aqua NOCH NIE ein "Aquamission" "Energymission" oder "Thermomobil" verkauft gekriegt hat, kann bzw. will Aqua nicht erklären.

Was sollen sie auch sagen ?
Dass sie die Aktionäre neben dem Verkauf wertloser Papiere einer leeren 8-Mann-Firmenhülle auch noch mit "Management fees" an sich selbst abzocken wollen ?
Dass sie auf der Homepage hemmungslos Lügen verbreiten um den Dummen weiterhin möglichst viele der 100 Mio. Aqua-Aktien antzdrehen , bevor die Bude in die Insolvenz geht ?

[krofisch]

Antwort auf Beitrag Nr.: 28.027.090 von westfale64 am 28.02.07 15:29:01

Einfach zu schön der tägliche verzweifelte und vor allem kindische Hinweis auf die immer noch typische sehr kreative und merkwürdige \\\'Übersetzungskunst\\\' von \\\'Pinochio\\\',
der evtl. so manchen mit seinen kopierten Hasspostings doch sehr an ehemalige wegen Unfähigkeit entlassene Hamm-Mitarbeiter erinnert?

Macht nichts.

Das Original steht ja in #4970!

[krofisch]

Antwort auf Beitrag Nr.: 28.027.090 von westfale64 am 28.02.07 15:29:01

Was meinst du wohl, wo diese Umsätze (siehe letzte Jahresberichte) her kommen
aktuell $2,203,763 und vorher $896,535?

[krofisch]

Antwort auf Beitrag Nr.: 28.027.090 von westfale64 am 28.02.07 15:29:01

Es ist einfach zu schön, wie du seit etwa 2 Jahren in eigenen deiner kleinen Welt immer noch den selben unerfüllten Wunschtraum träumst!

Ich frage mich nur, warum hat Herr Hamm nur derartige Träumer entlassen?
Aber das hätte bestimmt jede Firma so gemacht!

[westfale64]

Antwort auf Beitrag Nr.: 28.029.450 von krofisch am 28.02.07 17:01:52

Dann soll Aquas Pusher doch mal erklären was ihm an der Übersetzung der entscheidenden Passagen von Aquas Quartalsbericht nicht gefällt -ausser das diese Passagen Aqua als Abzocktruppe outen, die es nur auf das Aussaugen des Aktionärsgeldes mittels "management fees" in die Taschen der eigenen(!) Vorstände Hamm und Stamm geht.





„We currently have eight full-time employees.“Wörtlich übersetzt: Wir haben derzeit 8 Vollzeitangestellte.

Eine 8-Mann-Klitsche, die Millionen an die Gründer Hamm und Stamm verschiebt. Wofür ?




„As of September 30, 2006, the date of our most recently available financial statements, we had a working capital deficit of $2,059,410.“Wörtlich übersetzt: Am 30.Sep.2006….hatten wir ein Arbeitskapitaldefizit von $2.059.410.

Der Laden ist also mit 2 Mio. überschuldet.





„The revenues that we earned during the year ended September 30, 2006 were earned from services that we provided and equipment sales in connection with HVAC&R“Wörtlich übersetzt: Die Einnahmen, die wir bis zum30.Sep. 2006 hatten entstanden durch Service und Equipmentverkäufe in Verbindung mit HVAC&R.

Zur Erinnerung: Die Aktionäre bezahlen Herrn Hamm zweimal: Einmal mit den 20000 monatlichen Vorstandsbezügen und dann noch als Auftragnehmer (HVAC&R)
Der Beleg, dass Aqua weder mit „Aquamission“ noch mit „Thermomission“ oder „Energymission“ auch nur einen einzigen Euro eingenommen hat.





„Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products,“Wörtlich übersetzt: Auch wenn wir Orders für Thermomobil,Aquamission und Energymission erhalten haben, haben wir noch keine Einnahmen durch den Verkauf eines dieser Produkte erhalten.

Wer soll den unbrauchbaren Quatsch auch kaufen ?




„We incurred management fees of $716,231 during the year ended September 30, 2006. Of this amount, $147,529 were paid to Stamm & Lang Rechtsanwalte, a German law firm of which Achim Stamm, our former Chief Financial Officer, Secretary, Treasurer and a former director, is a partner, pursuant to a management consulting contract. An additional $173,140 was paid to Stamm & Lang in lieu of notice upon termination of our agreement with them in February, 2006. Also included in management fees are amounts charged under a management consulting contract with Hubert Hamm, a managing director of Aqua GmbH, and the lead consultant for research and development for Aqua GmbH’s HVAC&R department.“Wörtlich übersetzt: $716.231 wurden bis zum 30. Sep.2006 bezahlt. $147.529 davon wurden an Stamm und Lang Rechtsanwälte bezahlt, eine Kanzlei bei der Stamm, unser früherer CFO….. und früherer Direktor, Partner ist. Zusätzliche $173.140 wurden an Stamm und Lang…. im Feb.2006 bezahlt.Auch in den „management fees“ enthalten sind Zahlungen an Hubert Hamm….

Millionen für Hamm und Stamm. Daher die Verluste.




„Included in current liabilities are a total of $1,441,507 payable to a law firm of which, Achim Stamm, one of our former officers and directors, is a partner.“Wörtlich übersetzt: Eingeschlossen sind Schulden/Verbindlichkeiten bei Stamm……in Höhe von $1.441.507.

Und noch ein Nachschlag für die Abzocker.




„As at September 30, 2006 we had cash in the amount of $187,432 and a working capital deficit of $2,059,410.“Wörtlich übersetzt:Am 30.Sep.2006 hatten wir $187.432 cash auf dem Konto und ein Arbeitskapitaldefizit in Höhe von $2.059.410.

Klar, dass die Bude überschuldet ist: Nichts verkauft, aber die Aqua-Gründer stecken sich die Anlegermillionen ein.




„we have not yet achieved profitability. We anticipate that we will continue to incur losses for the foreseeable future“Wörtlich übersetzt: Wir haben noch keinen Gewinn erzielt. Wir vermuten, dass wir auch in absehbarer Zukunft nur Verluste einfahren werden.



„We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability and we anticipate that we will continue to incur substantial losses in the foreseeable future.“Wörtlich übersetzt: Wir haben keine ausreichenden finanziellen Resourcen um die erwarteten Kosten unseres Operationsplans und unsere Schulden/Verbindlichkeiten für die nächsten 12 Monate zu bezahlen.Wir haben noch keine Gewinne gemacht und vermuten, dass wir in absehbarer Zukunft auch weiterhin Verluste machen werden.

Aqua hat kein Geld um die nächsten 12 Monate zu überleben. Klar bei dieser Aktionärsabzocke.

[krofisch]

Antwort auf Beitrag Nr.: 28.029.757 von westfale64 am 28.02.07 17:14:47

Einfach zu schön der tägliche verzweifelte und vor allem kindische Hinweis auf die immer noch typische sehr kreative und merkwürdige \\\\'Übersetzungskunst\\\\' von \\\\'Pinochio\\\\',
der evtl. so manchen mit seinen kopierten Hasspostings doch sehr an ehemalige wegen Unfähigkeit entlassene Hamm-Mitarbeiter erinnert?

Macht nichts.

Hier das ORIGINAL:

http://www.sec.gov/Archives/edgar/data/1213111/000106299307000600/form10qsb.htm

10QSB 1 form10qsb.htm QUARTERLY REPORT FOR THE PERIOD ENDED DECEMBER 31, 2006
--------------------------------------------------------------------------------

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-QSB

(Mark One)

[ X ] Quarterly Report Under Section 13 Or 15(d) Of The Securities Exchange Act Of 1934
For the quarterly period ended December 31, 2006

[ ] Transition Report Under Section 13 Or 15(d) Of The Securities Exchange Act
For the transition period from ________to ________

COMMISSION FILE NUMBER 000-50163

AQUA SOCIETY, INC.
(Exact name of small business issuer as specified in its charter)

NEVADA 52-2357931
(State or other jurisdiction of incorporation or (IRS Employer Identification No.)
organization)

Konrad - Adenauer Strasse 9-13
45699 Herten, Germany
(Address of principal executive offices)

011-49-6031-791-760
Issuer's telephone number

Not Applicable
Former name, former address and former fiscal year, if changed since last report

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 [ X ] No [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: As of February 20, 2007 the Issuer had 118,178,323 Shares of Common Stock outstanding.

Transitional Small Business Disclosure Format (check one): Yes [ ] No [X]

1


--------------------------------------------------------------------------------

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

2


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.

INTERIM CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2006

(Stated in US Dollars)

(Unaudited)


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED BALANCE SHEETS
December 31, 2006 and September 30, 2006
(Stated in US Dollars)
(Unaudited)

December 31, September 30,
ASSETS 2006 2006

Current
Cash $ 108,837 $ 187,432
Accounts receivable – trade 76,838 143,039
– other – Note 4 59,367 -
Government value added tax receivable 97,631 217,919
Inventory 332,389 306,569
Loans receivable 1 1

675,063 854,960
Investments – Note 3 2 2
Patents and patent rights 193,485 193,485
Equipment 53,811 65,343

$ 922,361 $ 1,113,790

LIABILITIES

Current
Accounts payable and accrued liabilities – Note 4 $ 527,018 $ 537,271
Loans payable – Notes 4 and 5 3,165,735 2,377,099

3,692,753 2,914,370

STOCKHOLDERS’ DEFICIENCY

Common stock, $0.001 par value – Notes 6 and 8
300,000,000 shares authorized
118,178,323 shares issued and outstanding (September 30, 2006:
118,178,323 shares) 118,179 118,179
Additional paid-in capital 28,690,854 28,609,612
Accumulated other comprehensive loss (246,705 ) (150,368 )
Accumulated deficit (31,332,720 ) (30,378,003 )

(2,770,392 ) (1,800,580 )

$ 922,361 $ 1,113,790

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Sales $ 25,441 $ 782,242
Less: cost of goods sold 580 593,010

24,861 189,232

General and administrative expenses:
Accounting and audit fees 73,443 57,121
Advertising and promotion 19,329 58,187
Amortization 5,899 6,584
Bad debts 28,431 43,685
Bank charges and interest 117 85
Consulting fees 36,634 177,085
Development costs – Note 4 268,919 412,455
Filing fees 867 121
Interest 57,256 57,088
Legal fees – Note 4 130,228 36,264
Management fees – Note 4 57,988 124,857
Office and miscellaneous 23,270 66,274
Rent 26,154 28,917
Salaries and benefits 154,052 96,888
Stock-based compensation 57,242 -
Transfer agent 225 815
Travel – Note 4 39,524 80,478
Write down of patents - 8,994
Write down of inventory - 63,928

(979,578 ) (1,319,826 )

Operating loss before other item (954,717 ) (1,130,594 )

Other item:
Interest income - 5,292

Net loss for the period (954,717 ) (1,125,302 )

Other comprehensive loss
Foreign currency adjustment (96,337 ) (2,551 )

Comprehensive loss for the period $ (1,051,054 ) $ (1,127,853 )

Basic loss per share $ (0.01 ) $ (0.01 )

Weighted average number of shares outstanding 118,178,323 115,771,988

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Cash flows used in Operating Activities
Net loss for the period $ (954,717 ) $ (1,125,302 )
Items not affecting cash:
Amortization 5,899 6,584
Stock-based compensation 57,242
Write-down of patents - 8,994
Write-down of inventory - 63,928
Interest imputed on loans payable 24,000 -
Changes in non-cash working capital items:
Accounts receivable 10,882 (126,415 )
Government value added tax receivable 126,004 12,329
Inventory (13,251 ) 9,748
Accounts payable and accrued liabilities (23,954 ) 526,835

(767,895 ) (623,299 )

Cash flows used in Investing Activities
Equipment disposal 5,634 48,178
Repayment of loans receivable - (68,388 )

5,634 (20,210 )

Cash flows from Financing Activity
Increase in loans payable 677,508 174,408

Effect of exchange rates on cash 6,158 (7,730 )

Decrease in cash during the period (78,595 ) (476,831 )

Cash, beginning of the period 187,432 658,949

Cash, end of the period $ 108,837 $ 182,118

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Capital stock issued for cash 1 $ 31,042 $ - - $ - $ - $ - $ 31,042
Contribution of assets - - 25,056 - - - - 25,056
Pursuant to the acquisition of Aqua
Society GmbH 10,000,000 10,000 - 34,000,000 34,000 - - 44,000
Exchange of shares (1 ) (31,042 ) - - - - - (31,042 )
Outstanding shares of Company
prior to acquisition 69,908,000 69,908 - - - - (194,748 ) (124,840 )
Unrealized loss on translation - - - - - (997 ) - (997 )
Net loss for the period - - - - - - (67,448 ) (67,448 )

Balance, September 30, 2004 79,908,000 79,908 25,056 34,000,000 34,000 (997 ) (262,196 ) (124,229 )

Issued for cash:
Pursuant to private placement - at $2.40 416,666 417 999,583 - - - - 1,000,000
- at $1.98 1,232,322 1,233 2,438,766 - - - - 2,439,999
Pursuant to exercise of options - at $1.70 215,000 215 365,285 - - - - 365,500
Conversion of special warrants 34,000,000 34,000 - (34,000,000 ) (34,000 ) - - -
Stock-based compensation - - 22,480,000 - - - - 22,480,000
Unrealized gain on translation - - - - - 89,594 - 89,594
Net loss for the year - - - - - - (25,787,558 ) (25,787,558 )

Balance, September 30, 2005 115,771,988 115,773 26,308,690 - - 88,597 (26,049,754 ) 463,306

Pursuant to private placement - at $1.04 1,160,960 1,161 1,206,237 - - - - 1,207,398
- at $0.88 1,245,375 1,245 1,094,685 - - - - 1,095,930
Unrealized loss on translation - - - - - (238,965 ) - (238,965 )
Net loss for the period - - - - - - (4,328,249 ) (4,328,249 )

Balance, September 30, 2006 118,178,323 118,179 28,609,612 - - (150,368 ) (30,378,003 ) (1,800,580 )

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

Continued

AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Stock-based compensation - - 57,242 - - - - 57,242
Unrealized loss on translation - - - - (96,337 ) - (96,337 )
Contribution of interest – Note 5 - - 24,000 - - - - 24,000
Net loss for the period - - - - - - (954,717 ) (954,717 )

Balance, December 31, 2006 118,178,323 $ 118,179 $ 28,690,854 - $ $ (246,705 ) $ (31,332,720 ) $ (2,770,392 )

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2006
(Stated in US Dollars)
(Unaudited)

Note 1 Interim Reporting

While information presented in the accompanying interim consolidated financial statements is unaudited, it includes all adjustments, which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented. All adjustments are of a normal recurring nature. The accompanying interim consolidated financial statements do not include all information and footnote disclosures required for an annual set of financial statements prepared under generally accepted accounting principles in the United States of America. The accompanying interim consolidated financial statements should be read in conjunction with the Company’s September 30, 2006 audited consolidated financial statements. Operating results from the period ended December 31, 2006 are not necessarily indicative of the results that can be expected for the year ending September 30, 2007.


Note 2 Nature and Continuance of Operations

These interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for the next twelve months. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. At December 31, 2006, the Company had not yet achieved profitable operations, has accumulated losses of $31,332,720 since its inception, has a working capital deficiency of $3,017,690 and expects to incur further losses in the development of its business, all of which casts substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations 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 considers that the Company will be able to obtain additional funds by equity financing and/or related party advances; however there is no assurance of additional funding being available.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 2
(Unaudited)

Note 3 Investments

i) UFI Tec GmbH

By an agreement dated November 30, 2004 and effective December 10, 2004, the Company acquired a 33% interest in UFI-Tech GmbH (“UFI”), a German limited company, for consideration of EUR 25,565 (US $32,476). During the year ended September 30, 2005, the Company wrote down the $32,476 investment and related loans receivable of $67,227 to their net realizable value of $1. During the year ended September 30, 2006, the Company sold 13.1% of their 33% interest (19.9% interest remains) for proceeds of EUR 10,072 (US $12,237) and wrote down an additional loan receivable of $66,094 to its net realizable value of $1.

ii) By an agreement dated February 18, 2006, the Company acquired a 51% interest in TMR GmbH (“TMR”), a German limited company, in consideration of EUR 12,750 (US $15,999). TMR is involved in the development, installation, distribution and management of renewable resources. At the date of acquisition, TMR had no business, assets or liabilities. During the year ended September 30, 2006, the Company wrote down its investment by $15,674 (EUR 12,749) to $1. During the three months ended December 31, 2006, the Company disposed of its interest in TMR for $1.

Note 4 Related Party Transactions – Note 7

The Company incurred the following amounts charged by directors of the Company, the brother of a director of the Company and a law firm of which a former director of the Company is a partner:

Three months ended
December 31,
2006 2005

Development costs $ 88,013 $ 191,595
Legal fees - 26,073
Management fees 57,988 124,857
Travel - 1,780

$ 146,001 $ 344,305

Accounts receivable – other includes $59,367 related to an advance to a former officer of the Company.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 3
(Unaudited)

Note 4 Related Party Transactions – Note 7 – (cont’d)

Included in accounts payable and accrued liabilities is $77,498 (September 30, 2006: $79,358) due to directors of the Company and a former director of the Company. These amounts are unsecured, non-interest bearing and have no specific terms for repayment.

Included in loans payable is $1,527,238 (September 30, 2006: $1,441,507) due to a law firm of which a former director of the Company is a partner.

Note 5 Loans Payable

Of the total loans outstanding at December 31, 2006, $950,886 (September 30, 2006: $883,822) bear interest at 7.5% per annum, are secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $773,403 (September 30, 2006: $743,675) are non-interest bearing, secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $1,319,261 (September 30, 2006: $634,276) are non-interest bearing, unsecured and due on demand, and $122,185 (September 30, 2006: $115,326) of loans payable bear interest of 7.5% per annum, are unsecured and are repayable on or before December 31, 2006. The loans due on or before December 31, 2006 were not repaid and are consequently in default. The company has imputed interest on the non-interest bearing loans at 10% per annum for a total of $24,000 during the three months ended December 31, 2006.

Note 6 Capital Stock – Note 8

Commitments:

Share Purchase Options

On December 21, 2006, the Company adopted a second stock incentive plan (the “2006 Stock Option Plan”) to provide incentives to employees, directors, officers and permitted consultants. The 2006 Stock Plan provides for the issuance of up to 7,000,000 options with a term to be determined by the plan administer or, if not so established, ten years. The maximum aggregate number of shares that may be optioned under the 2006 Stock Option Plan will be increased effective the first day of each of the Company’s fiscal quarters (“adjustment date”), beginning with the fiscal quarter commencing April 1, 2007 by an amount equal to the lesser of i) 15% of the outstanding shares on the first day of the applicable quarter less a) the number of shares of common stock that may be optioned and sold under the plan prior to the adjustment date and b) the number of shares of common stock that may be optioned and sold under any other stock option plan in effect as of the adjustment date or ii) such lesser number of shares of common stock as may be determined by the Board.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 4
(Unaudited)

Note 6 Capital Stock – Note 8 – (cont’d)

Commitments: – (cont’d)

Share Purchase Options – (cont’d)

A summary of the stock options outstanding as at December 31, 2006 and changes during the period is presented below:

Weighted
Average
Exercise
Shares Price

Options outstanding at September 30, 2006 7,535,000 $ 1.70
Granted 4,500,000 $ 0.40

Options outstanding at December 31, 2006 12,035,000 $ 1.21

Options exercisable at December 31, 2006 7,535,000

A summary of stock options outstanding at December 31, 2006, is as follows:

Exercise
Number Price Expiry Date

562,500 $0.40 April 1, 2009
562,500 $0.40 July 1, 2009
562,500 0.40 October 1, 2009
7,535,000 $1.70 October 15, 2009
562,500 $0.40 January 1, 2010
562,500 $0.40 April 1, 2010
562,500 $0.40 July 1, 2010
562,500 $0.40 October 1, 2010
562,500 $0.40 January 1, 2011

12,035,000

The Company used the Black-Scholes option pricing model to compute estimated fair value at each of the grant dates.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 5
(Unaudited)

Note 6 Capital Stock – Note 8– (cont’d)

Commitments – (cont’d)

Share Purchase Options – (cont’d)

The Black-Scholes option-pricing model requires the input of highly subjective assumptions including the expected price volatility. Changes in the subjective input assumptions can materially affect the fair value estimate and therefore the Black-Scholes model does not necessarily provide a reliable single measure of the fair value of the Company’s share purchase options.

The Company used the Black-Scholes option pricing model to compute the estimated fair value of the options granted during the three months ended December 31, 2006, based on the following assumptions:

Risk-free interest rate 4.84%
Dividend yield rate 0.00%
Price volatility 159.23%
Weighted average expected life of options 2.03 years
Weighted average fair value $0.36

The Company recognized stock-based compensation of $57,242 during the three months ended December 31, 2006.

Share Purchase Warrants

As at December 31, 2006, a total of 2,406,335 share purchase warrants exercisable into 2,406,335 common shares were outstanding as follows:

Exercise
Number Price Expiry Date

1,169,960 $1.30 February 9, 2008
1,245,375 $1.10 June 15, 2008

2,406,335


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 6
(Unaudited)

Note 7 Commitments

i) Lease Contracts

By four lease agreements dated September 30, 2004 and effective October 1, 2004, the Company entered into four lease contracts for the Company’s corporate head office. The leases require total payments of EUR 6,690 (US$8,826) per month. Two of the leases are effective until May 31, 2007 and the other two are effective until December 31, 2007. The leases will be automatically extended every year unless cancelled with six months advance notice.

Minimum future lease payments

September 30, 2007 $ 80,960
2008 12,144

$ 93,104

ii) Management/Consulting Contracts


a) By a management consulting contract dated September 30, 2004 and effective October 1, 2004, the Company’s subsididary (“GmbH”) agreed to pay EUR15,000 (US $19,789) per month to a managing director of GmbH for development, production and quality assurance services. The managing director of the GmbH is also a director of the Company. This contract is for an unlimited term but may be terminated by either party with six months advance notice.


b) By a consulting agreement dated October 1, 2004, the Company agreed to pay $2,000 per month to a consultant of the Company. The agreement is effective for a term of 5 years. The Company granted 500,000 common stock options upon signing of the agreement. The exercise price of the stock options is $1.70 per share and expires on October 15, 2009.


c) By a management consulting contract dated and effective October 1, 2004, the Company agreed to pay EUR 5,000 (US$6,274) per month for marketing and business development services. Effective October 1, 2005, the contract was amended to increase the payment to EUR 7,500 (US $9,411) per month. Effective October 1, 2006, the contract was amended to EUR 15,000 (US$19,028) per month for October, November and December, 2006. By an agreement dated November 1, 2006 and effective January 11, 2007, the Company agreed to the payment of EUR 2,000 (US $2,638) per month until December 31, 2007 and a 5% commission of gross sales to third parties which occurred as a result of the consultant’s work. The contract automatically renews for one year if not terminated at the end of a year by giving six months advance notice.



--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 7
(Unaudited)

Note 7 Commitments – (cont’d)

ii) Management/Consulting Contracts – (cont’d)

d) By a management consulting contract dated and effective January 1, 2005, the GmbH agreed to pay EUR 5,520 (US $7,002) per month for marketing, sales and distribution services. By an agreement dated November 10, 2006 and effective January 1, 2007, the contract was amended to decrease the payment to EUR 3,750 (US $4,947) per month with additional payments of EUR 10,000 (US $12,686) and EUR 5,000 (US$6,343) in November and December 2006 respectively. The contract ends on December 31, 2007 and may be terminated by either party with three months advance notice.

e) By a management consulting agreement dated August 1, 2005, the GmbH agreed to pay EUR 3,900 (US $5,145) per month for administration services for the research and development department. The contract is for an unlimited term and may be terminated by either party by giving six months advance notice.

f) By a management consulting contract dated December 12, 2005 and effective January 1, 2006, the GmbH agreed to pay EUR 20,000 (US $25,371) per month to March 31, 2006 and EUR 25,000 (US $31,714) per month to December 31, 2006 for technical services. Effective September 18, 2006, the contract was amended and the payment was decreased to EUR 10,000 (US$ 12,686) per month and extended to June 30, 2007. The management consulting contract is with a company owned by a director of the Company.

g) By a management consulting contract dated November 10, 2004, the Company agreed to pay EUR 500 (US $660) per press release to a former director of the Company. This contract is for an unlimited term but may be terminated by either party with one month advance notice.

h) By management consulting agreements dated December 28, 2006, the Company agreed to pay directors of the Company a total of EUR 56,000 (US $73,879) for the period October 1, 2006 to December 31, 2006 and EUR 14,000 (US $18,470) per month for the period January 1, 2007 to September 30, 2007. The contract is for an unlimited term but may be terminated by either party with three months advance notice.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 8
(Unaudited)

Note 8 Subsequent Event

Subsequent to December 31, 2007, the Company approved a private placement offering of 7,500,000 units at $0.30 per unit with each unit consisting of one share of the Company’s common stock and one-half share purchase warrant for total proceeds of $2,250,000. Each share purchase warrant entitles the holder to purchase one additional share of the Company’s common stock at $0.35 per share for a period of one year from the date of issuance of the units.


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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this Quarterly Report constitute "forward-looking statements". These statements, identified by words such as “plan”, "anticipate," "believe," "estimate," "should," "expect" and similar expressions include our expectations and objectives regarding our future financial position, operating results and business strategy. These statements reflect the current views of management with respect to future events and are subject to risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from those described in the forward-looking statements. Such risks and uncertainties include those set forth under the caption "Management's Discussion and Analysis or Plan of Operation" and elsewhere in this Quarterly Report. We do not intend to update the forward-looking information to reflect actual results or changes in the factors affecting such forward-looking information. We advise you to carefully review the reports and documents we file from time to time with the United States Securities and Exchange Commission (the “SEC”), particularly our Annual Reports on Form 10-KSB and our Current Reports on Form 8-K.

As used in this Quarterly Report, the terms "we", "us", "our", “the Company” and “Aqua Society” mean Aqua Society, Inc. unless otherwise indicated. All dollar amounts in this Quarterly Report are in U.S. dollars unless otherwise stated.

INTRODUCTION

The following discussion and analysis summarizes our plan of operation for the next twelve months, our results of operations for the three month period ended December 31, 2006 and changes in our financial condition from September 30, 2006. This discussion should be read in conjunction with the Management’s Discussion and Analysis or Plan of Operation included in our Annual Report on Form 10-KSB for the year ended September 30, 2006.

We were incorporated under the laws of the State of Nevada on March 2, 2000, under the name “V G Tech, Inc.”

On September 22, 2004, we completed the acquisition of Aqua Society GmbH (“Aqua GmbH”). Prior to our acquisition of Aqua GmbH, we were in the business of providing services in the areas of digital graphics and special effects. Upon completing the acquisition of Aqua GmbH, we abandoned this digital imaging business. We are now in the business of designing and developing applied technologies, and providing consulting services, in the areas of heating, ventilation, air conditioning, refrigeration, water purification, waste water treatment, and, our latest business segment, energy (collectively, the “Aqua Business”).

Effective December 27, 2004, we changed our name to “Aqua Society, Inc.” to better reflect the nature of our current business operations

Recent Corporate Developments

The following significant corporate developments have occurred since our fiscal year ended September 30, 2006:

1. After the completion of our 2006 fiscal year, we completed the construction of a demonstration prototype of our EnergyMission / Yellow Box technology. A media event to showcase this demonstration model was held at our facilities on December 21, 2006. This demonstration unit will be used by us for marketing and demonstration purposes as well as for research and development.


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2. On December 21, 2006, our Board of Directors approved and adopted our 2006 Stock Option Plan (the “2006 Option Plan”). Under the 2006 Option Plan, options may be granted for a maximum of 7,000,000 shares of our common stock. The maximum number of shares that may be optioned under the 2006 Option Plan will increase each fiscal quarter, beginning with the fiscal quarter commencing April 1, 2007, by an amount equal to 15% of the total increase in the number of shares of common stock outstanding or such lesser amount as may be determined by our Board of Directors.


A summary of our 2006 Option Plan is set forth in our Current Report on Form 8-K filed with the SEC on December 29, 2006. The full text of the 2006 Option Plan is attached as Exhibit 10.1 to our Current Report on Form 8-K filed with the SEC on December 29, 2006, and is incorporated by reference herein.


3. Also on December 21, 2006, our Board of Directors approved the grant of options under the 2006 Option Plan for 2,500,000 shares of our common stock at an exercise price of $0.40 per share to Mr. Terberg and options to purchase an aggregate of 2,000,000 shares of our commons stock to Mr. van der Zee, also at a price of $0.40. The options granted to each of Mr. Terberg and Mr. van der Zee vest in equal quarterly instalments, commencing on April 1, 2007 and expiring 2 years after the applicable vesting date.


Changes to the Board of Directors and Executive Officers

In addition to the above corporate developments, there have been a number of changes to our Board of Directors and executive officers since the end of our 2006 fiscal year.

Effective October 31, 2006, Robert Terberg replaced Petrus Lodestijn as our Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary and also as a member of our Board of Directors. Also effective on October 31, 2006, our Board of Directors was expanded by the appointment of Hubert Hamm as a director of the Company and by the appointment of Hugo van der Zee as the Chairman of the Company’s Board of Directors.

PLAN OF OPERATION

During the next twelve months, we will focus: (1) on the design and construction of products ordered from us; (2) on further developing the market for our products; and (3) on continuing to develop and improve our products. Specifically, our plan of operation for the next twelve months involves the following:

1. Design and Construction of Ordered Units: During the next twelve months, we will work on the design and construction of the waste heat power generation, AquaMission and ThermoMobil units for which we have received orders.


2. Market Development Activities: Over the next twelve months we intend to do the following in an effort to continue developing a market for our products and services:


(a) We have completed the construction of a prototype EnergyMission / Yellow Box unit that we will use for marketing and demonstration purposes, as well as for ongoing research and development. The prototype unit will be used by us to demonstrate the effectiveness of our technology to trade media and industry representatives on an ongoing basis.


(b) We are also in the process of setting up a wholly owned subsidiary in the Netherlands (the “Dutch Subsidiary”), through which we will seek to promote all of our products in the “Benelux” countries (Belgium, the Netherlands and Luxemberg). In addition, we intend to use the Dutch Subsidiary to establish an additional production facility to be located in


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the Netherlands. This production facility is expected to enable us to significantly expand our production capabilities from the limited facilities located in Herten, Germany. The Dutch Subsidiary is expected to be based in Zevenaar, near Arnhem, in the east of the Netherlands.


(c) We will continue to attempt to market the AquaMission combined air-conditioning and drinking water product in geographic locations with high ambient temperatures and relative humidity but without readily available sources of fresh water, such as the Persian Gulf and the Middle East. Three demonstration models of the AquaMission are currently on location in the Middle East. We are currently in the process of seeking new sales agents for our products in the Middle East.


We will continue to try and generate sales in the Middle East using these demonstration models.


In addition to these activities, we may also seek to increase brand awareness through various advertising activities and sponsorships.

3. Product Development Activities: During the next twelve months, we will also continue to work on further developing and improving our existing products in an effort to increase their marketability. As part of these efforts, we have developed and built a demonstration model of our Yellow Box technology.


We are also in the process of constructing a high-tech “climate room” that will allow us to simulate the world’s various humidity and temperature zones. This “climate room” will assist us in optimizing our AquaMission unit for different geographic locations.


We anticipate spending approximately $2,000,000 in pursuing our plan of operation over the next twelve months. As of December 31, 2006, the date of our most recently available financial statements, we had a working capital deficit of $3,017,690. As such, we do not have sufficient working capital to meet our expected needs over the next twelve months. Although we have recently begun to earn revenues, we have not yet earned a net profit and we do not expect to achieve profitability in the near future as we expect to continue to incur substantial product development, marketing and operating expenses. We are likely to continue to need substantial additional financing in order to implement our plan of operation. Our management expects that any additional financing that we obtain will likely be in the form of equity financing.

Our actual expenditures and business plan may differ from the one stated above. Our Board of Directors may decide not to pursue this plan. In addition, we may modify the plan based on available financing.

RESULTS OF OPERATIONS

First Quarter Summary

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Revenue $25,441 $782,242 (96.7)%
Cost of Goods Sold (580) (593,010) (99.9)%
General and Administrative Expenses (979,578) (1,319,826) (25.8)%
Other Items Nil (5,292) (100.0)%
Net Loss $(954,717) $(1,125,302) (15.2)%

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Revenues

During our last fiscal year, we earned revenues from HVAC&R and energy optimization consulting services, and from equipment sales made in connection with the provision of those services. However, we do not have a long-term history of earning revenues and, as a result, we are unable to accurately forecast future revenues. Readers are cautioned that our past operating results may not be indicative of future performance.

During the fiscal year ended December 31, 2006, our revenue decreased by 96.7% as compared to the same period ended in 2005. Since their appointment in October, 2006, our new executive officers and directors have been conducting a company wide review of our operations. During this period, we scaled back our HVAC&R and energy optimizing consulting activities. As a result, our revenues decreased substantially.

During the next twelve months, we intend to concentrate our resources on developing the market for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, as we believe that these products will provide us with the greatest opportunity for future profitability. As a result, we may continue to scale back the HVAC&R and energy optimization consulting services that we have provided in the past.

Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products, and there are no assurances that we will be able earn such revenues in the future.

Operating Costs and Expenses

Our operating expenses for the quarterly period ended December 31, 2006 consisted of the following:

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Accounting and audit fees $73,443 $57,121 28.6%
Advertising and promotion 19,329 58,187 (66.8)%
Amortization 5,899 6,584 (10.4)%
Bad debts 28,431 43,685 (34.9)%
Bank charges and interest 117 85 37.6%
Consulting fees 36,634 177,085 (79.3)%
Development costs 268,919 412,455 (34.8)%
Filing fees 867 121 616.5%
Interest 57,256 57,088 0.3%
Legal fees 130,228 36,264 259.1%
Management fees 57,988 124,857 (53.6)%
Office and miscellaneous 23,270 66,274 (64.9)%
Rent 26,154 28,917 (9.6)%
Salaries and benefits 154,052 96,888 (59.0)%
Stock-based compensation 57,242 Nil 100.0%
Transfer agent 225 815 (72.4)%

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Travel 39,524 80,478 (50.9)%
Write down of patents Nil 8,994 (100.0)%
Write down of inventory Nil 63,928 (100.0)%
Total General and Administrative Expenses $979,578 $1,319,826 (25.8)%

Our general and administrative expenses decreased by $340,248, or 25.8%, during the three month period ended December 31, 2006 as compared to 2005. This decrease in our general and administrative expenses was primarily generated as a result of the efforts of our current management to streamline our operations. During the next few months, we expect that our general and administrative expenses will continue to fluctuate somewhat as we continue to review and overhaul our current operations.

Management fees decreased by $66,869, or 53.6%, during the quarter ended December 31, 2006, primarily because of the termination of a management services contract under which we had been obligated to pay management fees of EUR 20,000 per month to a law firm of which a former officer and director is a partner. Also, during the last fiscal quarter, we scaled back some of our product development activities as our management conducted a company wide assessment of our operations. As a result, development costs, and consulting fees associated with our development activities, also decreased significantly during our last fiscal quarter. Office and travel expenses also decreased primarily as a result of our efforts to streamline our operations. Also contributing to the overall decrease in our general and administrative expenses from the quarter ended December 31, 2005 was the fact that, during our December 31, 2005 fiscal quarter, we recognized one-time patent and inventory write down charges totaling $72,922. No patent or inventory write down charges were recognized for the period ended December 31, 2006.

Offsetting the above decreases were significant increases in accounting and audit fees, legal fees and salaries and benefits. The increase in legal fees relates primarily to amounts incurred in connection with the negotiation of our patent licensing agreement with Ecoenergy Patent GmbH and in connection with the restructuring of our operations by our new management. The events giving rise to the additional amounts spent on legal fees are not expected to be ongoing. Accounting and auditing fees increased as a result of an increase in the amounts charged by our consulting accountants and by our independent auditors. The increase in salaries and benefits was a result of the hiring of two additional non-management employees.

Also, during the period ended December 31, 2007, we recorded stock-based compensation expenses of $57,242 on account of stock options granted to certain of our officers and directors during the period. No options or other stock-based compensation were granted during the period ended December 31, 2005.

LIQUIDITY AND CAPITAL RESOURCES

Working Capital

At At Percentage
December 31, 2006 September 30, 2006 Increase / (Decrease)
Current Assets $675,063 $854,960 (21.0)%
Current Liabilities (3,692,753) (2,914,370) 26.7%
Working Capital Surplus (Deficit) $(3,017,690) $(2,059,410) 46.5%

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Included in current liabilities are a total of $1,527,238 payable to a law firm of which one of our former officers and directors, is a partner. We are currently in negotiations with the former officer and director for the settlement of the amounts owed to him and his law firm.

Cash Flows

Three Months Ended December 31
2006 2005
Cash Flows used in Operating Activities $(767,895) $(623,299)
Cash Flows used in Investing Activities 5,634 (20,210)
Cash Flows from Financing Activities 677,508 174,408
Effects of Foreign Exchange Rates 6,158 (7,730)
Net Decrease in Cash During Period $(78,595) $(476,831)

During the period ended December 31, 2006, we obtained financing in the form of a EUR 500,000 loan. This loan is unsecured, non-interest bearing and payable upon demand.

Total loans payable at December 31, 2006 consist of the following amounts:

(a) $950,886, bearing interest at a rate of 7.5% per annum, secured by accounts receivable and repayable on or before December 31, 2006;


(b) $773,403, non-interest bearing, secured by accounts receivable and repayable on or before December 31, 2006;


(c) $122,185, bearing interest a rate of 7.5% per annum, unsecured and payable on or before December 31, 2006; and


(d) $1,319,261, non-interest bearing, unsecured and due on demand.


The amounts payable on or before December 31, 2006 have not yet been repaid and are past due. We are currently in negotiations with our creditors for the settlement and repayment of amounts owed to them.

As at December 31, 2006 we had cash in the amount of $108,837 and a working capital deficit of $3,017,690. We anticipate spending approximately $2,000,000 over the next 12 months in pursuing our plan of operation. We will require substantial additional financing in the next few months in order to pursue our current plan of operation.

Although we earned revenues during our fiscal year ended September 30, 2006, we did not earn significant revenues during the fiscal quarter ended December 31, 2006 and we have not yet achieved profitability. Our future financial results are uncertain due to a number of factors, many of which are outside of our control. These factors include, but are not limited to:

(a) our ability to commercially market our ThermoMobil and AquaMission products;


(b) our ability to develop a commercially marketable EnergyMission/Yellow Box product;


(c) our ability to raise additional capital necessary to implement our business strategy and plan of operation;


(d) our ability to compete with other existing technologies; and


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(e) the success of any marketing and promotional campaign which we conduct for our products once development is complete.


Due to the uncertainty regarding our future revenues and profitability, we expect that the majority of additional financing that we obtain, if any, will likely be in the form of equity financing. Our management does not expect sufficient debt financing to be available to us through traditional sources at this stage of our business.

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 are material to our stockholders.

CRITICAL ACCOUNTING POLICIES

The preparation of financial statements in conformity with generally accepted accounting principles requires our management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Our management routinely makes judgments and estimates about the effects of matters that are inherently uncertain.

We have identified certain accounting policies, described below, that are most important to the portrayal of our current financial condition and results of operations. Our significant accounting policies are disclosed in Note 3 to the interim financial statements included in this Quarterly Report.

Principles of Consolidation

The consolidated financial statements include the accounts of Aqua Society, Inc and our wholly owned subsidiary, Aqua Society GmbH, a German limited liability company (“Aqua GmbH”). All inter-company transactions have been eliminated.

Foreign Currency Translation

Our functional currency is United States dollars. Our subsidiary, Aqua GmbH, uses the Euro as its functional currency. Accordingly, assets and liabilities of Aqua GmbH are translated into US dollars at the exchange rate in effect at the balance sheet date and capital accounts are translated at historical rates. Income statement accounts are translated at the average rates of exchange prevailing during the period. Translation adjustments arising from the use of differing exchange rates from period to period are included in the Accumulated Other Comprehensive Gain/(Loss) account in Stockholders’ Equity.

Transactions undertaken in currencies other than the functional currency of the entity are translated using the exchange rate in effect as of the transaction date. Any exchange gains and losses would be included in the Statement of Operations.

Patents, Patent Rights and Amortization

Patents and patent rights are recorded at cost. We provide for the amortization of patents and patent rights on the straight-line basis over their estimated economic lives, estimated to be 5 years. Amortization is recorded upon the patents being awarded.

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RISKS AND UNCERTAINTIES

Need For Financing

We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability. We are likely to continue to need substantial additional financing in order to implement our long term business plan. There is no assurance that we will be able to acquire sufficient financing on terms acceptable to us or at all. If financing is not available or obtainable, our ability to meet our financial obligations and pursue our plan of operation will be substantially limited and investors may lose a substantial portion or all of their investment

Limited Operating History, Risks Of A New Business Venture

We are still in the process of developing our business and have only recently begun to earn revenues. Readers are cautioned that our past results may not be indicative of future performance.

Potential investors should be aware of the difficulties normally encountered by a new enterprise and the high rate of failure of such enterprises. The potential for future success must be considered in light of the problems, expenses, difficulties complications and delays encountered in connection with the development of a business in the area in which we intend to operate and in connection with the formation and commencement of operations of a new business in general. These include, but are not limited to, unanticipated problems relating to research and development programs, marketing, approvals by government agencies, competition and additional costs and expenses that may exceed current estimates. There is no history upon which to base any assumption as to the likelihood that we will prove successful, and there can be no assurance that we will ever achieve profitable operations.

If We Are Unable To Achieve Market Acceptance For Our Products, We Will Be Unable To Build Our Business

To date, we have completed technical development of our EnergyMission/Yellow Box, ThermoMobil and AquaMission products. However, we have only received a limited number of confirmed orders for these products. Our future success will depend upon the acceptance of our existing products, and other products that we develop, by the respective industries in which we intend to market those products. Achieving such acceptance will require significant investments in research and development and market development. The technologies upon which our products and services are based are relatively new and are evolving. Accordingly, in order to achieve commercial acceptance, we will have to educate prospective clients about the uses and benefits of our products.

Even If We Are Able To Develop A Commercial Market For Our Products, We May Not Have The Ability To Meet The Demand For Those Products

We intend to complete the construction of the initial AquaMission, ThermoMobil and EnergyMission/Yellow Box units ordered from us at our facilities located in Herten, Germany. However, the size of these facilities is limited.

We are currently in the process of establishing a wholly owned subsidiary in the Netherlands, with which we intend to establish a larger scale production facility. Further, we intend to seek supply contracts and/or joint venture/licensing agreements with independent manufacturing companies to manufacture our products on a large scale basis, however we have not yet entered into any such contracts or agreements.

Our Operations May Be Subject to Extensive Government Regulation

Our operations may be subject to extensive government regulations in the United States, Europe and elsewhere. In order to sell our products, we may have to satisfy numerous mandatory procedures,

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regulations, and safety standards established by international, federal and state regulatory agencies. Although we currently comply with stringent German regulations, there can be no assurance that we can successfully comply with all present and future government regulations worldwide.

Risks of International Business Operations

Although we are incorporated in the United States, the majority of our operating activities are conducted in Germany. Additionally, in the past, we have targeted markets for our products in the Persian Gulf and other developing parts of the world, such as Africa. As such, a significant portion of our business depends upon our ability to establish and maintain successful relationships with businesses and governments located outside of the United States. If we are unable to establish and maintain such relationships, we may not be able to implement our business plan or plan of operations.

In order to better manage the risks associated with our international operations, our management has decided to focus their business development efforts on markets near to our base of operations, such as Germany, the Netherlands and the rest of Europe.

Rapid Technological Changes In Our Industry Could Make Our Products Obsolete

The industry in which we intend to compete is characterized by rapid technological change and intense competition. New technologies, products and industry standards will develop at a rapid pace which could make our planned products obsolete. Our future success will depend upon our ability to develop and introduce product enhancements to address the needs of our customers.

Asserting And Defending Intellectual Property Rights May Impact Results Of Operations

The success of our business may depend on our ability to successfully defend our intellectual property rights. Future litigation may have a material impact on our financial condition even if we are successful in developing and marketing products. We may not be successful in defending or asserting our intellectual property rights.

An adverse outcome in any litigation or interference proceeding could subject us to significant liabilities to third parties and require us to cease using the technology that is at issue or to license the technology from third parties. In addition, a finding that any of our intellectual property rights are invalid could allow our competitors to more easily and cost-effectively compete. Thus, an unfavorable outcome in any patent litigation or interference proceeding could have a material adverse effect on our business, financial condition or results of operations.

The cost to us of any patent litigation or interference proceeding could be substantial. Uncertainties resulting from the initiation and continuation of patent litigation or interference proceedings could have a material adverse effect on our ability to compete in the marketplace. Patent litigation and interference proceedings could also absorb significant management time.

We May Be Subject To Product Liability Lawsuits

We may be subject to product liability claims. Such claims may absorb significant management time and could degrade our reputation and the marketability of our products. If product liability claims are made with respect to our products, we may need to recall the implicated product which could have a material adverse effect on our business, financial condition and results of operations. In addition, although we may maintain product liability insurance, we cannot be sure that such insurance will be adequate to cover potential product liability lawsuits. Insurance is expensive and in the future may not be available on acceptable terms, if at all. If a successful product liability claim or series of claims exceeds insurance coverage, it could have a material adverse effect on our business, financial condition and results of operations.

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If We Are Late In Filing Any Of Our Annual Or Quarterly Reports During The Next Two Years, Our Common Stock May Become Ineligible For Quotation On The OTC Bulletin Board, Which Would Negatively Affect The Market For Our Shares And Our Ability To Obtain Additional Financing.

On November 16, 2005, the SEC approved certain changes to NASD Rule 6530. As amended, NASD Rule 6530 provides that OTC Bulletin Board (“OTCBB”) issuers who are late in filing their annual or quarterly reports three times within a 24-month period will be ineligible for quotation on the OTCBB. In order to regain eligibility under this rule, the issuer would need to timely file all of its annual and quarterly reports due in a one year period. The amended NASD Rule 6530 does not apply to annual or quarterly reports for periods ended before October 1, 2005.

From time to time, we have been late in filing our quarterly and annual reports. If we are late in filing our annual or quarterly reports three times within a 24-month period, we may become ineligible for quotation on the OTCBB, which would negatively affect the market for our common stock. In addition, if our common stock is no longer eligible for quotation on the OTCBB, it may become more difficult for us to obtain additional equity financing as shares of our common stock will be less attractive to potential investors.

ITEM 3. CONTROLS AND PROCEDURES.

Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as of the end of the period covered by this report. Based on that evaluation, our principal executive officer and principal financial officer has concluded that our disclosure controls and procedures were not effective as we failed to timely file our periodic reports with the SEC on a number of occasions during the past fiscal year.

Our new management is in the process of taking measures to improve our disclosure controls and procedures in an effort to ensure that the information required to be disclosed is internally communicated and publicly reported within the time periods specified in the SEC’s rules and forms. In particular, we intend to engage outside consultants to assist us in the preparation of our accounting records and financial statements and will attempt to increase internal accountability and to clearly define internal communication channels in an effort to remedy the deficiencies identified by our principal executive officer and principal financial officer.

By working with our external consultants and our principal independent accountants, our management believes that the financial statements and the other information presented in this Quarterly Report are materially correct.

There were no changes in our internal control over financial reporting during the last fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

None.

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

All unregistered sales of our equity securities completed during our fiscal quarter ended December 31, 2006 have been previously reported in the Quarterly Reports on Form 10-QSB and Current Reports on Form 8-K that we filed during that period.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

None.

ITEM 5. OTHER INFORMATION.

Compensatory Arrangements Of Certain Officers

Effective December 28, 2006, we entered into management consulting services agreements with each of Robert Terberg, our current Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary, and currently a member of our Board of Directors, and Hugo van der Zee, currently the Chairman of our Board of Directors. The terms of our agreements with Mr. Terberg and Mr. van der Zee are disclosed in our Annual Report filed with the SEC on January 16, 2007.

ITEM 6. EXHIBITS.

Exhibit
Number Description of Exhibit
3.1 Restated Articles of Incorporation filed with the Nevada Secretary of State effective December 27, 2004.(5)
3.2 Bylaws, effective March 2, 2000.(1)
10.1 Share Purchase Agreement between Water-Capital-Holding Ltd., V G Tech, Inc., Aqua Society GmbH and Steve Livingston, dated for reference September 3, 2004.(2)
10.2 Agreement and Deed of Transfer between Water-Capital-Holding Ltd. and V G Tech, Inc. dated for reference September 22, 2004.(3)
10.3 Certified Translation of a Notarial Deed executed by Uwe Dieste

[krofisch]

Antwort auf Beitrag Nr.: 28.029.757 von westfale64 am 28.02.07 17:14:47

Auf gut Deutsch:
westfale64 hat fix und fertig!

[westfale64]

Antwort auf Beitrag Nr.: 28.030.020 von krofisch am 28.02.07 17:25:26

#4975
und der bestellte Aqua-Pusher weiss keine Erklärungen für Aquas Abzocke

[krofisch]

Antwort auf Beitrag Nr.: 28.030.675 von westfale64 am 28.02.07 17:52:44

Einfach zu schön der tägliche verzweifelte und vor allem kindische Hinweis auf die immer noch typische sehr kreative und merkwürdige \\\\\'Übersetzungskunst\\\\\' von \\\\\'Pinochio\\\\\',
der evtl. so manchen mit seinen kopierten Hasspostings doch sehr an ehemalige wegen Unfähigkeit entlassene Hamm-Mitarbeiter erinnert?

Macht nichts.

Das ORIGINAL steht ja in #4976!

Wer braucht da schon die 'eigene Wahrheit' entlassener Mitarbeiter,. die sich nur am alten Arbeitgeber rächen wollen!

[westfale64]

Antwort auf Beitrag Nr.: 28.035.533 von krofisch am 28.02.07 21:15:49

Versuchen Sie das mal zu erklären,Pusher:






Hier die wichtigsten Passagen aus Aquas aktuellem Quartalsbericht, die jedem zeigen dass es bei dieser leeren OTC-Hülle VGtech, die Hamm für 50000 kaufte und in Aqua Society umbenannte, nur um das Aussaugen des Aktionärsgeldes geht - mittels ungerechtfertigter „management fees“, überzogener Vorstandsgehälter und natürlich mittels Verkauf von 100 Mio.wertlosen Altaktien:



„Included in accounts payable and accrued liabilities is $77,498 (September 30, 2006: $79,358) due to directors of the Company and a former director of the Company.“
Wofür kassieren die Direktoren dieser 8-Mann-Klitsche, die es im letzten Quartal gerade mal auf (verlustbringende)25000 Umsatz gebracht hat, 77000 Gehalt ?



„Included in loans payable is $1,527,238 (September 30, 2006: $1,441,507) due to a law firm of which a former director of the Company is a partner.“
Wofür kassiert Direktor Stamm 1,5 Mio. Lohn ?


„By a management consulting contract dated September 30, 2004 and effective October 1, 2004, the Company’s subsididary (“GmbH”) agreed to pay EUR15,000 (US $19,789) per month to a managing director of GmbH“
Wofür kassiert der nächste Direktor dieser Klitsche15000 im Monat ?




„By a management consulting contract dated December 12, 2005 and effective January 1, 2006, the GmbH agreed to pay EUR 20,000 (US $25,371) per month to March 31, 2006 and EUR 25,000 (US $31,714) per month to December 31, 2006 for technical services. Effective September 18, 2006, the contract was amended and the payment was decreased to EUR 10,000 (US$ 12,686) per month and extended to June 30, 2007. The management consulting contract is with a company owned by a director of the Company.“
Für welche Leistung wird eine Firma des Direktors mit 10000-25000 entlohnt ?




„By management consulting agreements dated December 28, 2006, the Company agreed to pay directors of the Company a total of EUR 56,000 (US $73,879) for the period October 1, 2006 to December 31, 2006 and EUR 14,000 (US $18,470) per month for the period January 1, 2007 to September 30, 2007.“
Wofür kriegen die Direktoren weitere 56000 im Quartal ?



„We anticipate spending approximately $2,000,000 in pursuing our plan of operation over the next twelve months. As of December 31, 2006, the date of our most recently available financial statements, we had a working capital deficit of $3,017,690. As such, we do not have sufficient working capital to meet our expected needs over the next twelve months. Although we have recently begun to earn revenues, we have not yet earned a net profit and we do not expect to achieve profitability in the near future as we expect to continue to incur substantial product development, marketing and operating expenses.“
2 Mio. brauchen diese Abzocker für die nächsten 12 Monate, damit sie das Aktionärsgeld weiterhin für ihre Gehaltszahlungen, „management fees“ u. ä. aussaugen können. Und das bei mittlerweile 3 Mio. Überschuldung.


„During our last fiscal year, we earned revenues from HVAC&R and energy optimization consulting services, and from equipment sales made in connection with the provision of those services.“
Da kommen die verlustbringen Umsätze her. Herr Hamm lässt sich von den Aktionären nicht nur mit „management fees“ und Vorstandsgehältern bezahlen sondern auch noch als Auftragnehmer (HVAC&R)





„During the fiscal year ended December 31, 2006, our revenue decreased by 96.7% as compared to the same period ended in 2005.“
Und selbst diese „Umsätze“ sind fast bei 0 angekommen.

„Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products,“
Und hier der Beleg dafür, dass dieser Industriesimulator NOCH NIE eine Maschine verkauft gekriegt hat.


„Included in current liabilities are a total of $1,527,238 payable to a law firm of which one of our former officers and directors, is a partner. We are currently in negotiations with the former officer and director for the settlement of the amounts owed to him and his law firm.“
Wofür kassiert Stamm diese 1,5 Mio. ?


„As at December 31, 2006 we had cash in the amount of $108,837 and a working capital deficit of $3,017,690.“
Nur noch 100000 in der Kasse, aber 3 Mio. Überschuldung.

„We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability. We are likely to continue to need substantial additional financing in order to implement our long term business plan.“
Und hier noch mal der Hinweis auf die drohende Insolvenz mangels Masse.

[Borealis]

Ist doch richtig schön, daß unser Krofisch den Quartalsbericht mit den verheerenden Unternehmenszahlen immer wieder reinstellt, damit sie keiner übersieht.

[krofisch]

Antwort auf Beitrag Nr.: 28.051.037 von Borealis am 01.03.07 17:01:05

Extra für dich:

http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…" target="_blank" rel="nofollow ugc noopener">http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…


10QSB 1 form10qsb.htm QUARTERLY REPORT FOR THE PERIOD ENDED DECEMBER 31, 2006
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-QSB

(Mark One)

[ X ] Quarterly Report Under Section 13 Or 15(d) Of The Securities Exchange Act Of 1934
For the quarterly period ended December 31, 2006

[ ] Transition Report Under Section 13 Or 15(d) Of The Securities Exchange Act
For the transition period from ________to ________

COMMISSION FILE NUMBER 000-50163

AQUA SOCIETY, INC.
(Exact name of small business issuer as specified in its charter)

NEVADA 52-2357931
(State or other jurisdiction of incorporation or (IRS Employer Identification No.)
organization)

Konrad - Adenauer Strasse 9-13
45699 Herten, Germany
(Address of principal executive offices)

011-49-6031-791-760
Issuer's telephone number

Not Applicable
Former name, former address and former fiscal year, if changed since last report

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 [ X ] No [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: As of February 20, 2007 the Issuer had 118,178,323 Shares of Common Stock outstanding.

Transitional Small Business Disclosure Format (check one): Yes [ ] No [X]

1


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PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

2


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AQUA SOCIETY, INC.

INTERIM CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2006

(Stated in US Dollars)

(Unaudited)


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AQUA SOCIETY, INC.
INTERIM CONSOLIDATED BALANCE SHEETS
December 31, 2006 and September 30, 2006
(Stated in US Dollars)
(Unaudited)

December 31, September 30,
ASSETS 2006 2006

Current
Cash $ 108,837 $ 187,432
Accounts receivable – trade 76,838 143,039
– other – Note 4 59,367 -
Government value added tax receivable 97,631 217,919
Inventory 332,389 306,569
Loans receivable 1 1

675,063 854,960
Investments – Note 3 2 2
Patents and patent rights 193,485 193,485
Equipment 53,811 65,343

$ 922,361 $ 1,113,790

LIABILITIES

Current
Accounts payable and accrued liabilities – Note 4 $ 527,018 $ 537,271
Loans payable – Notes 4 and 5 3,165,735 2,377,099

3,692,753 2,914,370

STOCKHOLDERS’ DEFICIENCY

Common stock, $0.001 par value – Notes 6 and 8
300,000,000 shares authorized
118,178,323 shares issued and outstanding (September 30, 2006:
118,178,323 shares) 118,179 118,179
Additional paid-in capital 28,690,854 28,609,612
Accumulated other comprehensive loss (246,705 ) (150,368 )
Accumulated deficit (31,332,720 ) (30,378,003 )

(2,770,392 ) (1,800,580 )

$ 922,361 $ 1,113,790

SEE ACCOMPANYING NOTES


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AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Sales $ 25,441 $ 782,242
Less: cost of goods sold 580 593,010

24,861 189,232

General and administrative expenses:
Accounting and audit fees 73,443 57,121
Advertising and promotion 19,329 58,187
Amortization 5,899 6,584
Bad debts 28,431 43,685
Bank charges and interest 117 85
Consulting fees 36,634 177,085
Development costs – Note 4 268,919 412,455
Filing fees 867 121
Interest 57,256 57,088
Legal fees – Note 4 130,228 36,264
Management fees – Note 4 57,988 124,857
Office and miscellaneous 23,270 66,274
Rent 26,154 28,917
Salaries and benefits 154,052 96,888
Stock-based compensation 57,242 -
Transfer agent 225 815
Travel – Note 4 39,524 80,478
Write down of patents - 8,994
Write down of inventory - 63,928

(979,578 ) (1,319,826 )

Operating loss before other item (954,717 ) (1,130,594 )

Other item:
Interest income - 5,292

Net loss for the period (954,717 ) (1,125,302 )

Other comprehensive loss
Foreign currency adjustment (96,337 ) (2,551 )

Comprehensive loss for the period $ (1,051,054 ) $ (1,127,853 )

Basic loss per share $ (0.01 ) $ (0.01 )

Weighted average number of shares outstanding 118,178,323 115,771,988

SEE ACCOMPANYING NOTES


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AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Cash flows used in Operating Activities
Net loss for the period $ (954,717 ) $ (1,125,302 )
Items not affecting cash:
Amortization 5,899 6,584
Stock-based compensation 57,242
Write-down of patents - 8,994
Write-down of inventory - 63,928
Interest imputed on loans payable 24,000 -
Changes in non-cash working capital items:
Accounts receivable 10,882 (126,415 )
Government value added tax receivable 126,004 12,329
Inventory (13,251 ) 9,748
Accounts payable and accrued liabilities (23,954 ) 526,835

(767,895 ) (623,299 )

Cash flows used in Investing Activities
Equipment disposal 5,634 48,178
Repayment of loans receivable - (68,388 )

5,634 (20,210 )

Cash flows from Financing Activity
Increase in loans payable 677,508 174,408

Effect of exchange rates on cash 6,158 (7,730 )

Decrease in cash during the period (78,595 ) (476,831 )

Cash, beginning of the period 187,432 658,949

Cash, end of the period $ 108,837 $ 182,118

SEE ACCOMPANYING NOTES


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AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Capital stock issued for cash 1 $ 31,042 $ - - $ - $ - $ - $ 31,042
Contribution of assets - - 25,056 - - - - 25,056
Pursuant to the acquisition of Aqua
Society GmbH 10,000,000 10,000 - 34,000,000 34,000 - - 44,000
Exchange of shares (1 ) (31,042 ) - - - - - (31,042 )
Outstanding shares of Company
prior to acquisition 69,908,000 69,908 - - - - (194,748 ) (124,840 )
Unrealized loss on translation - - - - - (997 ) - (997 )
Net loss for the period - - - - - - (67,448 ) (67,448 )

Balance, September 30, 2004 79,908,000 79,908 25,056 34,000,000 34,000 (997 ) (262,196 ) (124,229 )

Issued for cash:
Pursuant to private placement - at $2.40 416,666 417 999,583 - - - - 1,000,000
- at $1.98 1,232,322 1,233 2,438,766 - - - - 2,439,999
Pursuant to exercise of options - at $1.70 215,000 215 365,285 - - - - 365,500
Conversion of special warrants 34,000,000 34,000 - (34,000,000 ) (34,000 ) - - -
Stock-based compensation - - 22,480,000 - - - - 22,480,000
Unrealized gain on translation - - - - - 89,594 - 89,594
Net loss for the year - - - - - - (25,787,558 ) (25,787,558 )

Balance, September 30, 2005 115,771,988 115,773 26,308,690 - - 88,597 (26,049,754 ) 463,306

Pursuant to private placement - at $1.04 1,160,960 1,161 1,206,237 - - - - 1,207,398
- at $0.88 1,245,375 1,245 1,094,685 - - - - 1,095,930
Unrealized loss on translation - - - - - (238,965 ) - (238,965 )
Net loss for the period - - - - - - (4,328,249 ) (4,328,249 )

Balance, September 30, 2006 118,178,323 118,179 28,609,612 - - (150,368 ) (30,378,003 ) (1,800,580 )

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

Continued

AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Stock-based compensation - - 57,242 - - - - 57,242
Unrealized loss on translation - - - - (96,337 ) - (96,337 )
Contribution of interest – Note 5 - - 24,000 - - - - 24,000
Net loss for the period - - - - - - (954,717 ) (954,717 )

Balance, December 31, 2006 118,178,323 $ 118,179 $ 28,690,854 - $ $ (246,705 ) $ (31,332,720 ) $ (2,770,392 )

SEE ACCOMPANYING NOTES


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AQUA SOCIETY, INC.
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2006
(Stated in US Dollars)
(Unaudited)

Note 1 Interim Reporting

While information presented in the accompanying interim consolidated financial statements is unaudited, it includes all adjustments, which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented. All adjustments are of a normal recurring nature. The accompanying interim consolidated financial statements do not include all information and footnote disclosures required for an annual set of financial statements prepared under generally accepted accounting principles in the United States of America. The accompanying interim consolidated financial statements should be read in conjunction with the Company’s September 30, 2006 audited consolidated financial statements. Operating results from the period ended December 31, 2006 are not necessarily indicative of the results that can be expected for the year ending September 30, 2007.


Note 2 Nature and Continuance of Operations

These interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for the next twelve months. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. At December 31, 2006, the Company had not yet achieved profitable operations, has accumulated losses of $31,332,720 since its inception, has a working capital deficiency of $3,017,690 and expects to incur further losses in the development of its business, all of which casts substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations 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 considers that the Company will be able to obtain additional funds by equity financing and/or related party advances; however there is no assurance of additional funding being available.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 2
(Unaudited)

Note 3 Investments

i) UFI Tec GmbH

By an agreement dated November 30, 2004 and effective December 10, 2004, the Company acquired a 33% interest in UFI-Tech GmbH (“UFI”), a German limited company, for consideration of EUR 25,565 (US $32,476). During the year ended September 30, 2005, the Company wrote down the $32,476 investment and related loans receivable of $67,227 to their net realizable value of $1. During the year ended September 30, 2006, the Company sold 13.1% of their 33% interest (19.9% interest remains) for proceeds of EUR 10,072 (US $12,237) and wrote down an additional loan receivable of $66,094 to its net realizable value of $1.

ii) By an agreement dated February 18, 2006, the Company acquired a 51% interest in TMR GmbH (“TMR”), a German limited company, in consideration of EUR 12,750 (US $15,999). TMR is involved in the development, installation, distribution and management of renewable resources. At the date of acquisition, TMR had no business, assets or liabilities. During the year ended September 30, 2006, the Company wrote down its investment by $15,674 (EUR 12,749) to $1. During the three months ended December 31, 2006, the Company disposed of its interest in TMR for $1.

Note 4 Related Party Transactions – Note 7

The Company incurred the following amounts charged by directors of the Company, the brother of a director of the Company and a law firm of which a former director of the Company is a partner:

Three months ended
December 31,
2006 2005

Development costs $ 88,013 $ 191,595
Legal fees - 26,073
Management fees 57,988 124,857
Travel - 1,780

$ 146,001 $ 344,305

Accounts receivable – other includes $59,367 related to an advance to a former officer of the Company.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 3
(Unaudited)

Note 4 Related Party Transactions – Note 7 – (cont’d)

Included in accounts payable and accrued liabilities is $77,498 (September 30, 2006: $79,358) due to directors of the Company and a former director of the Company. These amounts are unsecured, non-interest bearing and have no specific terms for repayment.

Included in loans payable is $1,527,238 (September 30, 2006: $1,441,507) due to a law firm of which a former director of the Company is a partner.

Note 5 Loans Payable

Of the total loans outstanding at December 31, 2006, $950,886 (September 30, 2006: $883,822) bear interest at 7.5% per annum, are secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $773,403 (September 30, 2006: $743,675) are non-interest bearing, secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $1,319,261 (September 30, 2006: $634,276) are non-interest bearing, unsecured and due on demand, and $122,185 (September 30, 2006: $115,326) of loans payable bear interest of 7.5% per annum, are unsecured and are repayable on or before December 31, 2006. The loans due on or before December 31, 2006 were not repaid and are consequently in default. The company has imputed interest on the non-interest bearing loans at 10% per annum for a total of $24,000 during the three months ended December 31, 2006.

Note 6 Capital Stock – Note 8

Commitments:

Share Purchase Options

On December 21, 2006, the Company adopted a second stock incentive plan (the “2006 Stock Option Plan”) to provide incentives to employees, directors, officers and permitted consultants. The 2006 Stock Plan provides for the issuance of up to 7,000,000 options with a term to be determined by the plan administer or, if not so established, ten years. The maximum aggregate number of shares that may be optioned under the 2006 Stock Option Plan will be increased effective the first day of each of the Company’s fiscal quarters (“adjustment date”), beginning with the fiscal quarter commencing April 1, 2007 by an amount equal to the lesser of i) 15% of the outstanding shares on the first day of the applicable quarter less a) the number of shares of common stock that may be optioned and sold under the plan prior to the adjustment date and b) the number of shares of common stock that may be optioned and sold under any other stock option plan in effect as of the adjustment date or ii) such lesser number of shares of common stock as may be determined by the Board.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 4
(Unaudited)

Note 6 Capital Stock – Note 8 – (cont’d)

Commitments: – (cont’d)

Share Purchase Options – (cont’d)

A summary of the stock options outstanding as at December 31, 2006 and changes during the period is presented below:

Weighted
Average
Exercise
Shares Price

Options outstanding at September 30, 2006 7,535,000 $ 1.70
Granted 4,500,000 $ 0.40

Options outstanding at December 31, 2006 12,035,000 $ 1.21

Options exercisable at December 31, 2006 7,535,000

A summary of stock options outstanding at December 31, 2006, is as follows:

Exercise
Number Price Expiry Date

562,500 $0.40 April 1, 2009
562,500 $0.40 July 1, 2009
562,500 0.40 October 1, 2009
7,535,000 $1.70 October 15, 2009
562,500 $0.40 January 1, 2010
562,500 $0.40 April 1, 2010
562,500 $0.40 July 1, 2010
562,500 $0.40 October 1, 2010
562,500 $0.40 January 1, 2011

12,035,000

The Company used the Black-Scholes option pricing model to compute estimated fair value at each of the grant dates.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 5
(Unaudited)

Note 6 Capital Stock – Note 8– (cont’d)

Commitments – (cont’d)

Share Purchase Options – (cont’d)

The Black-Scholes option-pricing model requires the input of highly subjective assumptions including the expected price volatility. Changes in the subjective input assumptions can materially affect the fair value estimate and therefore the Black-Scholes model does not necessarily provide a reliable single measure of the fair value of the Company’s share purchase options.

The Company used the Black-Scholes option pricing model to compute the estimated fair value of the options granted during the three months ended December 31, 2006, based on the following assumptions:

Risk-free interest rate 4.84%
Dividend yield rate 0.00%
Price volatility 159.23%
Weighted average expected life of options 2.03 years
Weighted average fair value $0.36

The Company recognized stock-based compensation of $57,242 during the three months ended December 31, 2006.

Share Purchase Warrants

As at December 31, 2006, a total of 2,406,335 share purchase warrants exercisable into 2,406,335 common shares were outstanding as follows:

Exercise
Number Price Expiry Date

1,169,960 $1.30 February 9, 2008
1,245,375 $1.10 June 15, 2008

2,406,335


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 6
(Unaudited)

Note 7 Commitments

i) Lease Contracts

By four lease agreements dated September 30, 2004 and effective October 1, 2004, the Company entered into four lease contracts for the Company’s corporate head office. The leases require total payments of EUR 6,690 (US$8,826) per month. Two of the leases are effective until May 31, 2007 and the other two are effective until December 31, 2007. The leases will be automatically extended every year unless cancelled with six months advance notice.

Minimum future lease payments

September 30, 2007 $ 80,960
2008 12,144

$ 93,104

ii) Management/Consulting Contracts


a) By a management consulting contract dated September 30, 2004 and effective October 1, 2004, the Company’s subsididary (“GmbH”) agreed to pay EUR15,000 (US $19,789) per month to a managing director of GmbH for development, production and quality assurance services. The managing director of the GmbH is also a director of the Company. This contract is for an unlimited term but may be terminated by either party with six months advance notice.


b) By a consulting agreement dated October 1, 2004, the Company agreed to pay $2,000 per month to a consultant of the Company. The agreement is effective for a term of 5 years. The Company granted 500,000 common stock options upon signing of the agreement. The exercise price of the stock options is $1.70 per share and expires on October 15, 2009.


c) By a management consulting contract dated and effective October 1, 2004, the Company agreed to pay EUR 5,000 (US$6,274) per month for marketing and business development services. Effective October 1, 2005, the contract was amended to increase the payment to EUR 7,500 (US $9,411) per month. Effective October 1, 2006, the contract was amended to EUR 15,000 (US$19,028) per month for October, November and December, 2006. By an agreement dated November 1, 2006 and effective January 11, 2007, the Company agreed to the payment of EUR 2,000 (US $2,638) per month until December 31, 2007 and a 5% commission of gross sales to third parties which occurred as a result of the consultant’s work. The contract automatically renews for one year if not terminated at the end of a year by giving six months advance notice.



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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 7
(Unaudited)

Note 7 Commitments – (cont’d)

ii) Management/Consulting Contracts – (cont’d)

d) By a management consulting contract dated and effective January 1, 2005, the GmbH agreed to pay EUR 5,520 (US $7,002) per month for marketing, sales and distribution services. By an agreement dated November 10, 2006 and effective January 1, 2007, the contract was amended to decrease the payment to EUR 3,750 (US $4,947) per month with additional payments of EUR 10,000 (US $12,686) and EUR 5,000 (US$6,343) in November and December 2006 respectively. The contract ends on December 31, 2007 and may be terminated by either party with three months advance notice.

e) By a management consulting agreement dated August 1, 2005, the GmbH agreed to pay EUR 3,900 (US $5,145) per month for administration services for the research and development department. The contract is for an unlimited term and may be terminated by either party by giving six months advance notice.

f) By a management consulting contract dated December 12, 2005 and effective January 1, 2006, the GmbH agreed to pay EUR 20,000 (US $25,371) per month to March 31, 2006 and EUR 25,000 (US $31,714) per month to December 31, 2006 for technical services. Effective September 18, 2006, the contract was amended and the payment was decreased to EUR 10,000 (US$ 12,686) per month and extended to June 30, 2007. The management consulting contract is with a company owned by a director of the Company.

g) By a management consulting contract dated November 10, 2004, the Company agreed to pay EUR 500 (US $660) per press release to a former director of the Company. This contract is for an unlimited term but may be terminated by either party with one month advance notice.

h) By management consulting agreements dated December 28, 2006, the Company agreed to pay directors of the Company a total of EUR 56,000 (US $73,879) for the period October 1, 2006 to December 31, 2006 and EUR 14,000 (US $18,470) per month for the period January 1, 2007 to September 30, 2007. The contract is for an unlimited term but may be terminated by either party with three months advance notice.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 8
(Unaudited)

Note 8 Subsequent Event

Subsequent to December 31, 2007, the Company approved a private placement offering of 7,500,000 units at $0.30 per unit with each unit consisting of one share of the Company’s common stock and one-half share purchase warrant for total proceeds of $2,250,000. Each share purchase warrant entitles the holder to purchase one additional share of the Company’s common stock at $0.35 per share for a period of one year from the date of issuance of the units.


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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this Quarterly Report constitute "forward-looking statements". These statements, identified by words such as “plan”, "anticipate," "believe," "estimate," "should," "expect" and similar expressions include our expectations and objectives regarding our future financial position, operating results and business strategy. These statements reflect the current views of management with respect to future events and are subject to risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from those described in the forward-looking statements. Such risks and uncertainties include those set forth under the caption "Management's Discussion and Analysis or Plan of Operation" and elsewhere in this Quarterly Report. We do not intend to update the forward-looking information to reflect actual results or changes in the factors affecting such forward-looking information. We advise you to carefully review the reports and documents we file from time to time with the United States Securities and Exchange Commission (the “SEC”), particularly our Annual Reports on Form 10-KSB and our Current Reports on Form 8-K.

As used in this Quarterly Report, the terms "we", "us", "our", “the Company” and “Aqua Society” mean Aqua Society, Inc. unless otherwise indicated. All dollar amounts in this Quarterly Report are in U.S. dollars unless otherwise stated.

INTRODUCTION

The following discussion and analysis summarizes our plan of operation for the next twelve months, our results of operations for the three month period ended December 31, 2006 and changes in our financial condition from September 30, 2006. This discussion should be read in conjunction with the Management’s Discussion and Analysis or Plan of Operation included in our Annual Report on Form 10-KSB for the year ended September 30, 2006.

We were incorporated under the laws of the State of Nevada on March 2, 2000, under the name “V G Tech, Inc.”

On September 22, 2004, we completed the acquisition of Aqua Society GmbH (“Aqua GmbH”). Prior to our acquisition of Aqua GmbH, we were in the business of providing services in the areas of digital graphics and special effects. Upon completing the acquisition of Aqua GmbH, we abandoned this digital imaging business. We are now in the business of designing and developing applied technologies, and providing consulting services, in the areas of heating, ventilation, air conditioning, refrigeration, water purification, waste water treatment, and, our latest business segment, energy (collectively, the “Aqua Business”).

Effective December 27, 2004, we changed our name to “Aqua Society, Inc.” to better reflect the nature of our current business operations

Recent Corporate Developments

The following significant corporate developments have occurred since our fiscal year ended September 30, 2006:

1. After the completion of our 2006 fiscal year, we completed the construction of a demonstration prototype of our EnergyMission / Yellow Box technology. A media event to showcase this demonstration model was held at our facilities on December 21, 2006. This demonstration unit will be used by us for marketing and demonstration purposes as well as for research and development.


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2. On December 21, 2006, our Board of Directors approved and adopted our 2006 Stock Option Plan (the “2006 Option Plan”). Under the 2006 Option Plan, options may be granted for a maximum of 7,000,000 shares of our common stock. The maximum number of shares that may be optioned under the 2006 Option Plan will increase each fiscal quarter, beginning with the fiscal quarter commencing April 1, 2007, by an amount equal to 15% of the total increase in the number of shares of common stock outstanding or such lesser amount as may be determined by our Board of Directors.


A summary of our 2006 Option Plan is set forth in our Current Report on Form 8-K filed with the SEC on December 29, 2006. The full text of the 2006 Option Plan is attached as Exhibit 10.1 to our Current Report on Form 8-K filed with the SEC on December 29, 2006, and is incorporated by reference herein.


3. Also on December 21, 2006, our Board of Directors approved the grant of options under the 2006 Option Plan for 2,500,000 shares of our common stock at an exercise price of $0.40 per share to Mr. Terberg and options to purchase an aggregate of 2,000,000 shares of our commons stock to Mr. van der Zee, also at a price of $0.40. The options granted to each of Mr. Terberg and Mr. van der Zee vest in equal quarterly instalments, commencing on April 1, 2007 and expiring 2 years after the applicable vesting date.


Changes to the Board of Directors and Executive Officers

In addition to the above corporate developments, there have been a number of changes to our Board of Directors and executive officers since the end of our 2006 fiscal year.

Effective October 31, 2006, Robert Terberg replaced Petrus Lodestijn as our Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary and also as a member of our Board of Directors. Also effective on October 31, 2006, our Board of Directors was expanded by the appointment of Hubert Hamm as a director of the Company and by the appointment of Hugo van der Zee as the Chairman of the Company’s Board of Directors.

PLAN OF OPERATION

During the next twelve months, we will focus: (1) on the design and construction of products ordered from us; (2) on further developing the market for our products; and (3) on continuing to develop and improve our products. Specifically, our plan of operation for the next twelve months involves the following:

1. Design and Construction of Ordered Units: During the next twelve months, we will work on the design and construction of the waste heat power generation, AquaMission and ThermoMobil units for which we have received orders.


2. Market Development Activities: Over the next twelve months we intend to do the following in an effort to continue developing a market for our products and services:


(a) We have completed the construction of a prototype EnergyMission / Yellow Box unit that we will use for marketing and demonstration purposes, as well as for ongoing research and development. The prototype unit will be used by us to demonstrate the effectiveness of our technology to trade media and industry representatives on an ongoing basis.


(b) We are also in the process of setting up a wholly owned subsidiary in the Netherlands (the “Dutch Subsidiary”), through which we will seek to promote all of our products in the “Benelux” countries (Belgium, the Netherlands and Luxemberg). In addition, we intend to use the Dutch Subsidiary to establish an additional production facility to be located in


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the Netherlands. This production facility is expected to enable us to significantly expand our production capabilities from the limited facilities located in Herten, Germany. The Dutch Subsidiary is expected to be based in Zevenaar, near Arnhem, in the east of the Netherlands.


(c) We will continue to attempt to market the AquaMission combined air-conditioning and drinking water product in geographic locations with high ambient temperatures and relative humidity but without readily available sources of fresh water, such as the Persian Gulf and the Middle East. Three demonstration models of the AquaMission are currently on location in the Middle East. We are currently in the process of seeking new sales agents for our products in the Middle East.


We will continue to try and generate sales in the Middle East using these demonstration models.


In addition to these activities, we may also seek to increase brand awareness through various advertising activities and sponsorships.

3. Product Development Activities: During the next twelve months, we will also continue to work on further developing and improving our existing products in an effort to increase their marketability. As part of these efforts, we have developed and built a demonstration model of our Yellow Box technology.


We are also in the process of constructing a high-tech “climate room” that will allow us to simulate the world’s various humidity and temperature zones. This “climate room” will assist us in optimizing our AquaMission unit for different geographic locations.


We anticipate spending approximately $2,000,000 in pursuing our plan of operation over the next twelve months. As of December 31, 2006, the date of our most recently available financial statements, we had a working capital deficit of $3,017,690. As such, we do not have sufficient working capital to meet our expected needs over the next twelve months. Although we have recently begun to earn revenues, we have not yet earned a net profit and we do not expect to achieve profitability in the near future as we expect to continue to incur substantial product development, marketing and operating expenses. We are likely to continue to need substantial additional financing in order to implement our plan of operation. Our management expects that any additional financing that we obtain will likely be in the form of equity financing.

Our actual expenditures and business plan may differ from the one stated above. Our Board of Directors may decide not to pursue this plan. In addition, we may modify the plan based on available financing.

RESULTS OF OPERATIONS

First Quarter Summary

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Revenue $25,441 $782,242 (96.7)%
Cost of Goods Sold (580) (593,010) (99.9)%
General and Administrative Expenses (979,578) (1,319,826) (25.8)%
Other Items Nil (5,292) (100.0)%
Net Loss $(954,717) $(1,125,302) (15.2)%

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Revenues

During our last fiscal year, we earned revenues from HVAC&R and energy optimization consulting services, and from equipment sales made in connection with the provision of those services. However, we do not have a long-term history of earning revenues and, as a result, we are unable to accurately forecast future revenues. Readers are cautioned that our past operating results may not be indicative of future performance.

During the fiscal year ended December 31, 2006, our revenue decreased by 96.7% as compared to the same period ended in 2005. Since their appointment in October, 2006, our new executive officers and directors have been conducting a company wide review of our operations. During this period, we scaled back our HVAC&R and energy optimizing consulting activities. As a result, our revenues decreased substantially.

During the next twelve months, we intend to concentrate our resources on developing the market for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, as we believe that these products will provide us with the greatest opportunity for future profitability. As a result, we may continue to scale back the HVAC&R and energy optimization consulting services that we have provided in the past.

Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products, and there are no assurances that we will be able earn such revenues in the future.

Operating Costs and Expenses

Our operating expenses for the quarterly period ended December 31, 2006 consisted of the following:

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Accounting and audit fees $73,443 $57,121 28.6%
Advertising and promotion 19,329 58,187 (66.8)%
Amortization 5,899 6,584 (10.4)%
Bad debts 28,431 43,685 (34.9)%
Bank charges and interest 117 85 37.6%
Consulting fees 36,634 177,085 (79.3)%
Development costs 268,919 412,455 (34.8)%
Filing fees 867 121 616.5%
Interest 57,256 57,088 0.3%
Legal fees 130,228 36,264 259.1%
Management fees 57,988 124,857 (53.6)%
Office and miscellaneous 23,270 66,274 (64.9)%
Rent 26,154 28,917 (9.6)%
Salaries and benefits 154,052 96,888 (59.0)%
Stock-based compensation 57,242 Nil 100.0%
Transfer agent 225 815 (72.4)%

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Travel 39,524 80,478 (50.9)%
Write down of patents Nil 8,994 (100.0)%
Write down of inventory Nil 63,928 (100.0)%
Total General and Administrative Expenses $979,578 $1,319,826 (25.8)%

Our general and administrative expenses decreased by $340,248, or 25.8%, during the three month period ended December 31, 2006 as compared to 2005. This decrease in our general and administrative expenses was primarily generated as a result of the efforts of our current management to streamline our operations. During the next few months, we expect that our general and administrative expenses will continue to fluctuate somewhat as we continue to review and overhaul our current operations.

Management fees decreased by $66,869, or 53.6%, during the quarter ended December 31, 2006, primarily because of the termination of a management services contract under which we had been obligated to pay management fees of EUR 20,000 per month to a law firm of which a former officer and director is a partner. Also, during the last fiscal quarter, we scaled back some of our product development activities as our management conducted a company wide assessment of our operations. As a result, development costs, and consulting fees associated with our development activities, also decreased significantly during our last fiscal quarter. Office and travel expenses also decreased primarily as a result of our efforts to streamline our operations. Also contributing to the overall decrease in our general and administrative expenses from the quarter ended December 31, 2005 was the fact that, during our December 31, 2005 fiscal quarter, we recognized one-time patent and inventory write down charges totaling $72,922. No patent or inventory write down charges were recognized for the period ended December 31, 2006.

Offsetting the above decreases were significant increases in accounting and audit fees, legal fees and salaries and benefits. The increase in legal fees relates primarily to amounts incurred in connection with the negotiation of our patent licensing agreement with Ecoenergy Patent GmbH and in connection with the restructuring of our operations by our new management. The events giving rise to the additional amounts spent on legal fees are not expected to be ongoing. Accounting and auditing fees increased as a result of an increase in the amounts charged by our consulting accountants and by our independent auditors. The increase in salaries and benefits was a result of the hiring of two additional non-management employees.

Also, during the period ended December 31, 2007, we recorded stock-based compensation expenses of $57,242 on account of stock options granted to certain of our officers and directors during the period. No options or other stock-based compensation were granted during the period ended December 31, 2005.

LIQUIDITY AND CAPITAL RESOURCES

Working Capital

At At Percentage
December 31, 2006 September 30, 2006 Increase / (Decrease)
Current Assets $675,063 $854,960 (21.0)%
Current Liabilities (3,692,753) (2,914,370) 26.7%
Working Capital Surplus (Deficit) $(3,017,690) $(2,059,410) 46.5%

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Included in current liabilities are a total of $1,527,238 payable to a law firm of which one of our former officers and directors, is a partner. We are currently in negotiations with the former officer and director for the settlement of the amounts owed to him and his law firm.

Cash Flows

Three Months Ended December 31
2006 2005
Cash Flows used in Operating Activities $(767,895) $(623,299)
Cash Flows used in Investing Activities 5,634 (20,210)
Cash Flows from Financing Activities 677,508 174,408
Effects of Foreign Exchange Rates 6,158 (7,730)
Net Decrease in Cash During Period $(78,595) $(476,831)

During the period ended December 31, 2006, we obtained financing in the form of a EUR 500,000 loan. This loan is unsecured, non-interest bearing and payable upon demand.

Total loans payable at December 31, 2006 consist of the following amounts:

(a) $950,886, bearing interest at a rate of 7.5% per annum, secured by accounts receivable and repayable on or before December 31, 2006;


(b) $773,403, non-interest bearing, secured by accounts receivable and repayable on or before December 31, 2006;


(c) $122,185, bearing interest a rate of 7.5% per annum, unsecured and payable on or before December 31, 2006; and


(d) $1,319,261, non-interest bearing, unsecured and due on demand.


The amounts payable on or before December 31, 2006 have not yet been repaid and are past due. We are currently in negotiations with our creditors for the settlement and repayment of amounts owed to them.

As at December 31, 2006 we had cash in the amount of $108,837 and a working capital deficit of $3,017,690. We anticipate spending approximately $2,000,000 over the next 12 months in pursuing our plan of operation. We will require substantial additional financing in the next few months in order to pursue our current plan of operation.

Although we earned revenues during our fiscal year ended September 30, 2006, we did not earn significant revenues during the fiscal quarter ended December 31, 2006 and we have not yet achieved profitability. Our future financial results are uncertain due to a number of factors, many of which are outside of our control. These factors include, but are not limited to:

(a) our ability to commercially market our ThermoMobil and AquaMission products;


(b) our ability to develop a commercially marketable EnergyMission/Yellow Box product;


(c) our ability to raise additional capital necessary to implement our business strategy and plan of operation;


(d) our ability to compete with other existing technologies; and


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(e) the success of any marketing and promotional campaign which we conduct for our products once development is complete.


Due to the uncertainty regarding our future revenues and profitability, we expect that the majority of additional financing that we obtain, if any, will likely be in the form of equity financing. Our management does not expect sufficient debt financing to be available to us through traditional sources at this stage of our business.

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 are material to our stockholders.

CRITICAL ACCOUNTING POLICIES

The preparation of financial statements in conformity with generally accepted accounting principles requires our management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Our management routinely makes judgments and estimates about the effects of matters that are inherently uncertain.

We have identified certain accounting policies, described below, that are most important to the portrayal of our current financial condition and results of operations. Our significant accounting policies are disclosed in Note 3 to the interim financial statements included in this Quarterly Report.

Principles of Consolidation

The consolidated financial statements include the accounts of Aqua Society, Inc and our wholly owned subsidiary, Aqua Society GmbH, a German limited liability company (“Aqua GmbH”). All inter-company transactions have been eliminated.

Foreign Currency Translation

Our functional currency is United States dollars. Our subsidiary, Aqua GmbH, uses the Euro as its functional currency. Accordingly, assets and liabilities of Aqua GmbH are translated into US dollars at the exchange rate in effect at the balance sheet date and capital accounts are translated at historical rates. Income statement accounts are translated at the average rates of exchange prevailing during the period. Translation adjustments arising from the use of differing exchange rates from period to period are included in the Accumulated Other Comprehensive Gain/(Loss) account in Stockholders’ Equity.

Transactions undertaken in currencies other than the functional currency of the entity are translated using the exchange rate in effect as of the transaction date. Any exchange gains and losses would be included in the Statement of Operations.

Patents, Patent Rights and Amortization

Patents and patent rights are recorded at cost. We provide for the amortization of patents and patent rights on the straight-line basis over their estimated economic lives, estimated to be 5 years. Amortization is recorded upon the patents being awarded.

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RISKS AND UNCERTAINTIES

Need For Financing

We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability. We are likely to continue to need substantial additional financing in order to implement our long term business plan. There is no assurance that we will be able to acquire sufficient financing on terms acceptable to us or at all. If financing is not available or obtainable, our ability to meet our financial obligations and pursue our plan of operation will be substantially limited and investors may lose a substantial portion or all of their investment

Limited Operating History, Risks Of A New Business Venture

We are still in the process of developing our business and have only recently begun to earn revenues. Readers are cautioned that our past results may not be indicative of future performance.

Potential investors should be aware of the difficulties normally encountered by a new enterprise and the high rate of failure of such enterprises. The potential for future success must be considered in light of the problems, expenses, difficulties complications and delays encountered in connection with the development of a business in the area in which we intend to operate and in connection with the formation and commencement of operations of a new business in general. These include, but are not limited to, unanticipated problems relating to research and development programs, marketing, approvals by government agencies, competition and additional costs and expenses that may exceed current estimates. There is no history upon which to base any assumption as to the likelihood that we will prove successful, and there can be no assurance that we will ever achieve profitable operations.

If We Are Unable To Achieve Market Acceptance For Our Products, We Will Be Unable To Build Our Business

To date, we have completed technical development of our EnergyMission/Yellow Box, ThermoMobil and AquaMission products. However, we have only received a limited number of confirmed orders for these products. Our future success will depend upon the acceptance of our existing products, and other products that we develop, by the respective industries in which we intend to market those products. Achieving such acceptance will require significant investments in research and development and market development. The technologies upon which our products and services are based are relatively new and are evolving. Accordingly, in order to achieve commercial acceptance, we will have to educate prospective clients about the uses and benefits of our products.

Even If We Are Able To Develop A Commercial Market For Our Products, We May Not Have The Ability To Meet The Demand For Those Products

We intend to complete the construction of the initial AquaMission, ThermoMobil and EnergyMission/Yellow Box units ordered from us at our facilities located in Herten, Germany. However, the size of these facilities is limited.

We are currently in the process of establishing a wholly owned subsidiary in the Netherlands, with which we intend to establish a larger scale production facility. Further, we intend to seek supply contracts and/or joint venture/licensing agreements with independent manufacturing companies to manufacture our products on a large scale basis, however we have not yet entered into any such contracts or agreements.

Our Operations May Be Subject to Extensive Government Regulation

Our operations may be subject to extensive government regulations in the United States, Europe and elsewhere. In order to sell our products, we may have to satisfy numerous mandatory procedures,

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regulations, and safety standards established by international, federal and state regulatory agencies. Although we currently comply with stringent German regulations, there can be no assurance that we can successfully comply with all present and future government regulations worldwide.

Risks of International Business Operations

Although we are incorporated in the United States, the majority of our operating activities are conducted in Germany. Additionally, in the past, we have targeted markets for our products in the Persian Gulf and other developing parts of the world, such as Africa. As such, a significant portion of our business depends upon our ability to establish and maintain successful relationships with businesses and governments located outside of the United States. If we are unable to establish and maintain such relationships, we may not be able to implement our business plan or plan of operations.

In order to better manage the risks associated with our international operations, our management has decided to focus their business development efforts on markets near to our base of operations, such as Germany, the Netherlands and the rest of Europe.

Rapid Technological Changes In Our Industry Could Make Our Products Obsolete

The industry in which we intend to compete is characterized by rapid technological change and intense competition. New technologies, products and industry standards will develop at a rapid pace which could make our planned products obsolete. Our future success will depend upon our ability to develop and introduce product enhancements to address the needs of our customers.

Asserting And Defending Intellectual Property Rights May Impact Results Of Operations

The success of our business may depend on our ability to successfully defend our intellectual property rights. Future litigation may have a material impact on our financial condition even if we are successful in developing and marketing products. We may not be successful in defending or asserting our intellectual property rights.

An adverse outcome in any litigation or interference proceeding could subject us to significant liabilities to third parties and require us to cease using the technology that is at issue or to license the technology from third parties. In addition, a finding that any of our intellectual property rights are invalid could allow our competitors to more easily and cost-effectively compete. Thus, an unfavorable outcome in any patent litigation or interference proceeding could have a material adverse effect on our business, financial condition or results of operations.

The cost to us of any patent litigation or interference proceeding could be substantial. Uncertainties resulting from the initiation and continuation of patent litigation or interference proceedings could have a material adverse effect on our ability to compete in the marketplace. Patent litigation and interference proceedings could also absorb significant management time.

We May Be Subject To Product Liability Lawsuits

We may be subject to product liability claims. Such claims may absorb significant management time and could degrade our reputation and the marketability of our products. If product liability claims are made with respect to our products, we may need to recall the implicated product which could have a material adverse effect on our business, financial condition and results of operations. In addition, although we may maintain product liability insurance, we cannot be sure that such insurance will be adequate to cover potential product liability lawsuits. Insurance is expensive and in the future may not be available on acceptable terms, if at all. If a successful product liability claim or series of claims exceeds insurance coverage, it could have a material adverse effect on our business, financial condition and results of operations.

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If We Are Late In Filing Any Of Our Annual Or Quarterly Reports During The Next Two Years, Our Common Stock May Become Ineligible For Quotation On The OTC Bulletin Board, Which Would Negatively Affect The Market For Our Shares And Our Ability To Obtain Additional Financing.

On November 16, 2005, the SEC approved certain changes to NASD Rule 6530. As amended, NASD Rule 6530 provides that OTC Bulletin Board (“OTCBB”) issuers who are late in filing their annual or quarterly reports three times within a 24-month period will be ineligible for quotation on the OTCBB. In order to regain eligibility under this rule, the issuer would need to timely file all of its annual and quarterly reports due in a one year period. The amended NASD Rule 6530 does not apply to annual or quarterly reports for periods ended before October 1, 2005.

From time to time, we have been late in filing our quarterly and annual reports. If we are late in filing our annual or quarterly reports three times within a 24-month period, we may become ineligible for quotation on the OTCBB, which would negatively affect the market for our common stock. In addition, if our common stock is no longer eligible for quotation on the OTCBB, it may become more difficult for us to obtain additional equity financing as shares of our common stock will be less attractive to potential investors.

ITEM 3. CONTROLS AND PROCEDURES.

Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as of the end of the period covered by this report. Based on that evaluation, our principal executive officer and principal financial officer has concluded that our disclosure controls and procedures were not effective as we failed to timely file our periodic reports with the SEC on a number of occasions during the past fiscal year.

Our new management is in the process of taking measures to improve our disclosure controls and procedures in an effort to ensure that the information required to be disclosed is internally communicated and publicly reported within the time periods specified in the SEC’s rules and forms. In particular, we intend to engage outside consultants to assist us in the preparation of our accounting records and financial statements and will attempt to increase internal accountability and to clearly define internal communication channels in an effort to remedy the deficiencies identified by our principal executive officer and principal financial officer.

By working with our external consultants and our principal independent accountants, our management believes that the financial statements and the other information presented in this Quarterly Report are materially correct.

There were no changes in our internal control over financial reporting during the last fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

None.

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

All unregistered sales of our equity securities completed during our fiscal quarter ended December 31, 2006 have been previously reported in the Quarterly Reports on Form 10-QSB and Current Reports on Form 8-K that we filed during that period.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

None.

ITEM 5. OTHER INFORMATION.

Compensatory Arrangements Of Certain Officers

Effective December 28, 2006, we entered into management consulting services agreements with each of Robert Terberg, our current Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary, and currently a member of our Board of Directors, and Hugo van der Zee, currently the Chairman of our Board of Directors. The terms of our agreements with Mr. Terberg and Mr. van der Zee are disclosed in our Annual Report filed with the SEC on January 16, 2007.

ITEM 6. EXHIBITS.

Exhibit
Number Description of Exhibit
3.1 Restated Articles of Incorporation filed with the Nevada Secretary of State effective December 27, 2004.(5)
3.2 Bylaws, effective March 2, 2000.(1)
10.1 Share Purchase Agreement between Water-Capital-Holding Ltd., V G Tech, Inc., Aqua Society GmbH and Steve Livingston, dated for reference September 3, 2004.(2)
10.2 Agreement and Deed of Transfer between Water-Capital-Holding Ltd. and V G Tech, Inc. dated for reference September 22, 2004.(3)
10.3 Certified Translation of a Notarial Deed executed by Uwe Diestel and Aqua Society GmbH dated November 30, 2004 regarding the purchase and sale of an interest in UFI-TEC GmbH.(5)
10.4 2004 Stock Incentive Plan.(4)

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Exhibit
Number Description of Exhibit
10.5 Marketing & Promotion Agreement between Aqua Society GmbH, Sesam Business Consultancy and Moosa Abu Ais

[westfale64]

Antwort auf Beitrag Nr.: 28.052.346 von krofisch am 01.03.07 17:50:12

#4980:
Aquas Abzockmethoden.

Und weder Aqua noch sein Pusher können es erklären. Deshalb kann der Pusher die peinlichen Abzockmethoden dieser 8-Mann-Klitsche nur mit seitenlangen Postings zumüllen.
Auf das die Dummen auch weiterhin den Homepagelügen glauben und den Aqua-Gründern ihre Altaktien abkaufen.

[krofisch]

Antwort auf Beitrag Nr.: 28.052.934 von westfale64 am 01.03.07 18:15:38

Einfach zu schön der tägliche verzweifelte und vor allem kindische Hinweis auf die immer noch typische sehr kreative und merkwürdige \\\\\\'Übersetzungskunst\\\\\\' von \\\\\\'Pinochio\\\\\\',
der evtl. so manchen mit seinen kopierten Hasspostings doch sehr an ehemalige wegen Unfähigkeit entlassene Hamm-Mitarbeiter erinnert?

Macht nichts.

Das ORIGINAL steht ja in #4982!

Wer braucht da schon die \'eigene Wahrheit\' entlassener Mitarbeiter,. die sich nur am alten Arbeitgeber rächen wollen!

[westfale64]

Lt. Aquas EIGENEN QUARTALSBERICHTEN hat Aqua mittlerweile

-30 Mio. Verlust durch "Berater"-Zahlungen, "management fees" u.ä.an die eigenen Vorstände
-3 Mio. Überschuldung
-nur noch 100000 in der Kasse
-nur 8 Angestellte
-in all den Jahren kein einziges Produkt verkauft, weder Aquamission noch Thermomission oder Energymission



Belege siehe Aquas Quartalsbericht , siehe Auszüge in #4980.

Erklärungen dazu von Aqua oder seinem bestellten Pusher: Fehlanzeige

[Keatanu]

Antwort auf Beitrag Nr.: 28.053.015 von krofisch am 01.03.07 18:18:33

AQUA ist schon so tief gesunken, daß man mit 45$ Kurspflege in USA betreibt. Ärmliches Bild. Tja, wenn nur noch 100000 in der eigenen Kasse sind, dann ist das Ziel doch erreicht. Alles Geld unter die Leute gebracht.

[krofisch]

Antwort auf Beitrag Nr.: 28.053.538 von westfale64 am 01.03.07 18:40:14

Das erinnert doch schon wieder sehr an ein kopiertes Hassposting eines ehemaligen wegen Unfähigkeit entlassene Hamm-Mitarbeiters!

[krofisch]

Antwort auf Beitrag Nr.: 28.053.538 von westfale64 am 01.03.07 18:40:14

Schön, dass dir nun seit 2 Jahren nichts Neues mehr einfällt!

[krofisch]

Antwort auf Beitrag Nr.: 28.053.538 von westfale64 am 01.03.07 18:40:14

Das ORIGINAL steht ja in #4982!

Wer braucht da schon die \\'eigene Wahrheit\\' entlassener Mitarbeiter, die sich nur am alten Arbeitgeber rächen wollen!

[krofisch]

Antwort auf Beitrag Nr.: 28.053.538 von westfale64 am 01.03.07 18:40:14

Einfach zu schön der tägliche verzweifelte und vor allem kindische Hinweis auf die immer noch typische sehr kreative und merkwürdige \\\\\\\'Übersetzungskunst\\\\\\\' von \\\\\\\'Pinochio\\\\\\\',
der evtl. so manchen mit seinen kopierten Hasspostings doch sehr an ehemalige wegen Unfähigkeit entlassene Hamm-Mitarbeiter erinnert?

[Keatanu]

Antwort auf Beitrag Nr.: 28.057.838 von krofisch am 01.03.07 21:31:31

Welches Original? Dein Buchstabensalat mit getürkten Zahlen und nachlesbaren Phantasien???

[Keatanu]

Antwort auf Beitrag Nr.: 28.058.010 von krofisch am 01.03.07 21:37:30

Und immer noch nichts dazu gelernt:

Es heißt Pinocchio! Du kleines Licht.

[Keatanu]

Antwort auf Beitrag Nr.: 28.058.119 von Keatanu am 01.03.07 21:41:19

1. Design and Construction of Ordered Units: During the next twelve months, we will work on the design and construction of the waste heat power generation, AquaMission and ThermoMobil units for which we have received orders.

Wer ordert eigentlich etwas, was noch gar nicht existiert. Ausser im Fall von Auftragsarbeiten, wo die Vorgaben und Patente dann sicher nicht AQUA gehören würden. Da aber laut AQUA alle Patente besitzt, wer ordert also diese Phantasie-Fliwatüts???

Das stinkt doch zum Himmel. Und so kann man den Bericht Stück für Stück auseinandernehmen.

Selbst 45$ sind mir zuviel für diesen Schrott! Viel Glück dem, der in USA zugeschlagen hat.

[westfale64]

Antwort auf Beitrag Nr.: 28.057.790 von krofisch am 01.03.07 21:29:35

"wegen Unfähigkeit entlassene Hamm-Mitarbeiter"
Gibt es solche in der 8-Mann-Firma Aqua ?

Hamm kriegt doch jede seine Wasser-aus-Luft-Märchenerzähler-Buden in die Insolvenz. Bereits im Jahr 2002 sammelte er 10 Mio. Inhaberschuldverschreibungen für seine Firma miningtec inc./miningtec GmbH ein. Dabei handelte es sich um das gleiche Konstrukt (leere OTC-Hülle, in die eine wertlose deutsche GmbH eingebracht wurde) wie bei Aqua.Auch damals bewarb er seine Wasser-aus-Luft-Maschine, die jetzt Aquamission heisst. 2002 nannte er diese Hydroflow und hat sie auch nicht verkauft gekriegt.
Was wurde aus diesen 10 Mio. Inhaberschuldverschreibungen ?
Hat er seine Anleger damals genauso verschaukelt wie jetzt mit Aqua ?

Auch diese für Hamm peinlichen Fragen will er nicht beantworten -genausowenig wie die Fragen nach den seltsamen Millionenprovisionen die er sich bei seiner aktuellen OTC-Bude Aqua aus dem Topf der Aktionärsmillionen selbst genehmigt.






In #4980 ist seine aktuelle Anlegerabzocke nachzulesen. Belegt durch den eigenen Q-Bericht.

[krofisch]

Antwort auf Beitrag Nr.: 28.069.954 von westfale64 am 02.03.07 15:36:29

Einfach zu schön der tägliche verzweifelte und vor allem kindische Hinweis auf die immer noch typische sehr kreative und merkwürdige \\\\\\\\'Übersetzungskunst\\\\\\\\' von \\\\\\\\'Pinochio\\\\\\\\',
der evtl. so manchen mit seinen kopierten Hasspostings doch sehr an ehemalige wegen Unfähigkeit entlassene Hamm-Mitarbeiter erinnert?

Macht nichts!

Das ORIGINAL steht ja in #4982!

Wer braucht da schon die \\\'eigene Wahrheit\\\' entlassener Mitarbeiter, die sich nur am alten Arbeitgeber rächen wollen!

[krofisch]

Antwort auf Beitrag Nr.: 28.069.954 von westfale64 am 02.03.07 15:36:29

Es ist einfach zu schön, dass du seit etwa 2 Jahren jeden Tag den gleichen unerfüllten 'Wunsch-Traum' träumst in deiner eigenen kleinen Welt!

[krofisch]

Antwort auf Beitrag Nr.: 28.069.954 von westfale64 am 02.03.07 15:36:29

Wenigstens sind die vielen Leerzeilen nicht von dir erfunden worden!

[westfale64]

Antwort auf Beitrag Nr.: 28.070.869 von krofisch am 02.03.07 16:12:15

#4980


Wie wäre es mit Erklärungen zu den seltsamen Millionenprovisionen an Hamm und Stamm ?
Oder zu der 3 Mio. Überschuldung Aquas ?
Oder zu dem jahrelangen Scheitern des Versuches eine Maschine zu verkaufen ?
Oder zu den Homepagelügen Aquas ?
Oder zu der Tatsache, dass Aqua nur noch 100000 in der Kasse hat ?
(Alles in Aquas Q-Bericht zu lesen)


Das wäre für die verschaukelten Aqua-Aktionäre, die aufgrund Ihrer vielen Pushlügen diese Schrottaktien gekauft haben, interessanter als Ihre stereotypen Beleidigungen der Aqua-Kritiker.



Sobald die Betrugsprozesse gegen die Initiatoren dieser Millionenabzocke laufen werden Sie mit Ihren Lügen jedenfalls nicht mehr durchkommen.

[krofisch]

Antwort auf Beitrag Nr.: 28.071.396 von westfale64 am 02.03.07 16:31:39

Einfach zu schön der tägliche verzweifelte und vor allem kindische Hinweis auf die immer noch typische sehr kreative und merkwürdige \\\\\\\\\'Übersetzungskunst\\\\\\\\\' von \\\\\\\\\'Pinochio\\\\\\\\\',
der evtl. so manchen mit seinen kopierten Hasspostings doch sehr an ehemalige wegen Unfähigkeit entlassene Hamm-Mitarbeiter erinnert?

Macht nichts!

Das ORIGINAL steht ja in #4982!

Wer braucht da schon die \\\\'eigene Wahrheit\\\\' entlassener Mitarbeiter, die sich nur am alten Arbeitgeber rächen wollen!

[krofisch]

Antwort auf Beitrag Nr.: 28.071.396 von westfale64 am 02.03.07 16:31:39

Und diese Schreibfehler:

So wäre es richtig:
Das wäre für die Aqua-Aktionäre, die aufgrund Ihrer vielen Bashlügen diese Aktien verkauft haben, interessanter als Ihre stereotypen Beleidigungen der Aqua-Aktionäre.

[krofisch]

Antwort auf Beitrag Nr.: 28.071.396 von westfale64 am 02.03.07 16:31:39

Es ist einfach zu schön, dass du seit etwa 2 Jahren jeden Tag den gleichen unerfüllten \'Wunsch-Traum\' träumst in deiner eigenen kleinen Welt!

Warum gehst du nicht endlich mal zur Polizei oder zum Staatsanwalt?
Die wollen doch auch mal gerne über dich lachen!
Aber das traust du dich ja auch wieder nicht!

[westfale64]

Wollen Sie etwa bestreiten, dass genau diese Passagen (rot)IN AQUAS EIGENEM QUARTALSBERICHT stehen , Pusher ?
Kann schliesslich jeder nachlesen.
Oder hat Hamm Ihnen aufgetragen die peinlichen Fragen zuzumüllen, damit die Aqua-Bande auch weiterhin ihre Schrottaktien bei den Dummen abladen kann ?



Hier die wichtigsten Passagen aus Aquas aktuellem Quartalsbericht, die jedem zeigen dass es bei dieser leeren OTC-Hülle VGtech, die Hamm für 50000 kaufte und in Aqua Society umbenannte, nur um das Aussaugen des Aktionärsgeldes geht - mittels ungerechtfertigter „management fees“, überzogener Vorstandsgehälter und natürlich mittels Verkauf von 100 Mio.wertlosen Altaktien:



„Included in accounts payable and accrued liabilities is $77,498 (September 30, 2006: $79,358) due to directors of the Company and a former director of the Company.“Wofür kassieren die Direktoren dieser 8-Mann-Klitsche, die es im letzten Quartal gerade mal auf (verlustbringende)25000 Umsatz gebracht hat, 77000 Gehalt ?



„Included in loans payable is $1,527,238 (September 30, 2006: $1,441,507) due to a law firm of which a former director of the Company is a partner.“
Wofür kassiert Direktor Stamm 1,5 Mio. Lohn ?


„By a management consulting contract dated September 30, 2004 and effective October 1, 2004, the Company’s subsididary (“GmbH”) agreed to pay EUR15,000 (US $19,789) per month to a managing director of GmbH“Wofür kassiert der nächste Direktor dieser Klitsche15000 im Monat ?




„By a management consulting contract dated December 12, 2005 and effective January 1, 2006, the GmbH agreed to pay EUR 20,000 (US $25,371) per month to March 31, 2006 and EUR 25,000 (US $31,714) per month to December 31, 2006 for technical services. Effective September 18, 2006, the contract was amended and the payment was decreased to EUR 10,000 (US$ 12,686) per month and extended to June 30, 2007. The management consulting contract is with a company owned by a director of the Company.“Für welche Leistung wird eine Firma des Direktors mit 10000-25000 entlohnt ?




„By management consulting agreements dated December 28, 2006, the Company agreed to pay directors of the Company a total of EUR 56,000 (US $73,879) for the period October 1, 2006 to December 31, 2006 and EUR 14,000 (US $18,470) per month for the period January 1, 2007 to September 30, 2007.“Wofür kriegen die Direktoren weitere 56000 im Quartal ?



„We anticipate spending approximately $2,000,000 in pursuing our plan of operation over the next twelve months. As of December 31, 2006, the date of our most recently available financial statements, we had a working capital deficit of $3,017,690. As such, we do not have sufficient working capital to meet our expected needs over the next twelve months. Although we have recently begun to earn revenues, we have not yet earned a net profit and we do not expect to achieve profitability in the near Future as we expect to continue to incur substantial product development, marketing and operating expenses.“2 Mio. brauchen diese Abzocker für die nächsten 12 Monate, damit sie das Aktionärsgeld weiterhin für ihre Gehaltszahlungen, „management fees“ u. ä. aussaugen können. Und das bei mittlerweile 3 Mio. Überschuldung.


„During our last fiscal year, we earned revenues from HVAC&R and energy optimization consulting services, and from equipment sales made in connection with the provision of those services.“
Da kommen die verlustbringen Umsätze her. Herr Hamm lässt sich von den Aktionären nicht nur mit „management fees“ und Vorstandsgehältern bezahlen sondern auch noch als Auftragnehmer (HVAC&R)





„During the fiscal year ended December 31, 2006, our revenue decreased by 96.7% as compared to the same period ended in 2005.“Und selbst diese „Umsätze“ sind fast bei 0 angekommen.

„Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products,“Und hier der Beleg dafür, dass dieser Industriesimulator NOCH NIE eine Maschine verkauft gekriegt hat.


„Included in current liabilities are a total of $1,527,238 payable to a law firm of which one of our former officers and directors, is a partner. We are currently in negotiations with the former officer and director for the settlement of the amounts owed to him and his law firm.“Wofür kassiert Stamm diese 1,5 Mio. ?


„As at December 31, 2006 we had cash in the amount of $108,837 and a working capital deficit of $3,017,690.“Nur noch 100000 in der Kasse, aber 3 Mio. Überschuldung.

„We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability. We are likely to continue to need substantial additional financing in order to implement our long term business plan.“Und hier noch mal der Hinweis auf die drohende Insolvenz mangels Masse.

[krofisch]

Antwort auf Beitrag Nr.: 28.072.699 von westfale64 am 02.03.07 17:22:59

Einfach zu schön der tägliche verzweifelte und vor allem kindische Hinweis auf die immer noch typische sehr kreative und merkwürdige \\\\\\\'Übersetzungskunst\\\\\\\' von \\\\\\\'Pinochio\\\\\\\',
der evtl. so manchen mit seinen kopierten Hasspostings doch sehr an ehemalige wegen Unfähigkeit entlassene Hamm-Mitarbeiter erinnert?

Wer braucht schon die \\'eigene Wahrheit\\' entlassener Mitarbeiter, die sich nur am alten Arbeitgeber rächen wollen!


Macht nichts.

Das ORIGINAL steht ja hier http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

10QSB 1 form10qsb.htm QUARTERLY REPORT FOR THE PERIOD ENDED DECEMBER 31, 2006
--------------------------------------------------------------------------------

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-QSB

(Mark One)

[ X ] Quarterly Report Under Section 13 Or 15(d) Of The Securities Exchange Act Of 1934
For the quarterly period ended December 31, 2006

[ ] Transition Report Under Section 13 Or 15(d) Of The Securities Exchange Act
For the transition period from ________to ________

COMMISSION FILE NUMBER 000-50163

AQUA SOCIETY, INC.
(Exact name of small business issuer as specified in its charter)

NEVADA 52-2357931
(State or other jurisdiction of incorporation or (IRS Employer Identification No.)
organization)

Konrad - Adenauer Strasse 9-13
45699 Herten, Germany
(Address of principal executive offices)

011-49-6031-791-760
Issuer's telephone number

Not Applicable
Former name, former address and former fiscal year, if changed since last report

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 [ X ] No [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: As of February 20, 2007 the Issuer had 118,178,323 Shares of Common Stock outstanding.

Transitional Small Business Disclosure Format (check one): Yes [ ] No [X]

1


--------------------------------------------------------------------------------

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

2


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.

INTERIM CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2006

(Stated in US Dollars)

(Unaudited)


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED BALANCE SHEETS
December 31, 2006 and September 30, 2006
(Stated in US Dollars)
(Unaudited)

December 31, September 30,
ASSETS 2006 2006

Current
Cash $ 108,837 $ 187,432
Accounts receivable – trade 76,838 143,039
– other – Note 4 59,367 -
Government value added tax receivable 97,631 217,919
Inventory 332,389 306,569
Loans receivable 1 1

675,063 854,960
Investments – Note 3 2 2
Patents and patent rights 193,485 193,485
Equipment 53,811 65,343

$ 922,361 $ 1,113,790

LIABILITIES

Current
Accounts payable and accrued liabilities – Note 4 $ 527,018 $ 537,271
Loans payable – Notes 4 and 5 3,165,735 2,377,099

3,692,753 2,914,370

STOCKHOLDERS’ DEFICIENCY

Common stock, $0.001 par value – Notes 6 and 8
300,000,000 shares authorized
118,178,323 shares issued and outstanding (September 30, 2006:
118,178,323 shares) 118,179 118,179
Additional paid-in capital 28,690,854 28,609,612
Accumulated other comprehensive loss (246,705 ) (150,368 )
Accumulated deficit (31,332,720 ) (30,378,003 )

(2,770,392 ) (1,800,580 )

$ 922,361 $ 1,113,790

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Sales $ 25,441 $ 782,242
Less: cost of goods sold 580 593,010

24,861 189,232

General and administrative expenses:
Accounting and audit fees 73,443 57,121
Advertising and promotion 19,329 58,187
Amortization 5,899 6,584
Bad debts 28,431 43,685
Bank charges and interest 117 85
Consulting fees 36,634 177,085
Development costs – Note 4 268,919 412,455
Filing fees 867 121
Interest 57,256 57,088
Legal fees – Note 4 130,228 36,264
Management fees – Note 4 57,988 124,857
Office and miscellaneous 23,270 66,274
Rent 26,154 28,917
Salaries and benefits 154,052 96,888
Stock-based compensation 57,242 -
Transfer agent 225 815
Travel – Note 4 39,524 80,478
Write down of patents - 8,994
Write down of inventory - 63,928

(979,578 ) (1,319,826 )

Operating loss before other item (954,717 ) (1,130,594 )

Other item:
Interest income - 5,292

Net loss for the period (954,717 ) (1,125,302 )

Other comprehensive loss
Foreign currency adjustment (96,337 ) (2,551 )

Comprehensive loss for the period $ (1,051,054 ) $ (1,127,853 )

Basic loss per share $ (0.01 ) $ (0.01 )

Weighted average number of shares outstanding 118,178,323 115,771,988

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Cash flows used in Operating Activities
Net loss for the period $ (954,717 ) $ (1,125,302 )
Items not affecting cash:
Amortization 5,899 6,584
Stock-based compensation 57,242
Write-down of patents - 8,994
Write-down of inventory - 63,928
Interest imputed on loans payable 24,000 -
Changes in non-cash working capital items:
Accounts receivable 10,882 (126,415 )
Government value added tax receivable 126,004 12,329
Inventory (13,251 ) 9,748
Accounts payable and accrued liabilities (23,954 ) 526,835

(767,895 ) (623,299 )

Cash flows used in Investing Activities
Equipment disposal 5,634 48,178
Repayment of loans receivable - (68,388 )

5,634 (20,210 )

Cash flows from Financing Activity
Increase in loans payable 677,508 174,408

Effect of exchange rates on cash 6,158 (7,730 )

Decrease in cash during the period (78,595 ) (476,831 )

Cash, beginning of the period 187,432 658,949

Cash, end of the period $ 108,837 $ 182,118

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Capital stock issued for cash 1 $ 31,042 $ - - $ - $ - $ - $ 31,042
Contribution of assets - - 25,056 - - - - 25,056
Pursuant to the acquisition of Aqua
Society GmbH 10,000,000 10,000 - 34,000,000 34,000 - - 44,000
Exchange of shares (1 ) (31,042 ) - - - - - (31,042 )
Outstanding shares of Company
prior to acquisition 69,908,000 69,908 - - - - (194,748 ) (124,840 )
Unrealized loss on translation - - - - - (997 ) - (997 )
Net loss for the period - - - - - - (67,448 ) (67,448 )

Balance, September 30, 2004 79,908,000 79,908 25,056 34,000,000 34,000 (997 ) (262,196 ) (124,229 )

Issued for cash:
Pursuant to private placement - at $2.40 416,666 417 999,583 - - - - 1,000,000
- at $1.98 1,232,322 1,233 2,438,766 - - - - 2,439,999
Pursuant to exercise of options - at $1.70 215,000 215 365,285 - - - - 365,500
Conversion of special warrants 34,000,000 34,000 - (34,000,000 ) (34,000 ) - - -
Stock-based compensation - - 22,480,000 - - - - 22,480,000
Unrealized gain on translation - - - - - 89,594 - 89,594
Net loss for the year - - - - - - (25,787,558 ) (25,787,558 )

Balance, September 30, 2005 115,771,988 115,773 26,308,690 - - 88,597 (26,049,754 ) 463,306

Pursuant to private placement - at $1.04 1,160,960 1,161 1,206,237 - - - - 1,207,398
- at $0.88 1,245,375 1,245 1,094,685 - - - - 1,095,930
Unrealized loss on translation - - - - - (238,965 ) - (238,965 )
Net loss for the period - - - - - - (4,328,249 ) (4,328,249 )

Balance, September 30, 2006 118,178,323 118,179 28,609,612 - - (150,368 ) (30,378,003 ) (1,800,580 )

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

Continued

AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Stock-based compensation - - 57,242 - - - - 57,242
Unrealized loss on translation - - - - (96,337 ) - (96,337 )
Contribution of interest – Note 5 - - 24,000 - - - - 24,000
Net loss for the period - - - - - - (954,717 ) (954,717 )

Balance, December 31, 2006 118,178,323 $ 118,179 $ 28,690,854 - $ $ (246,705 ) $ (31,332,720 ) $ (2,770,392 )

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2006
(Stated in US Dollars)
(Unaudited)

Note 1 Interim Reporting

While information presented in the accompanying interim consolidated financial statements is unaudited, it includes all adjustments, which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented. All adjustments are of a normal recurring nature. The accompanying interim consolidated financial statements do not include all information and footnote disclosures required for an annual set of financial statements prepared under generally accepted accounting principles in the United States of America. The accompanying interim consolidated financial statements should be read in conjunction with the Company’s September 30, 2006 audited consolidated financial statements. Operating results from the period ended December 31, 2006 are not necessarily indicative of the results that can be expected for the year ending September 30, 2007.


Note 2 Nature and Continuance of Operations

These interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for the next twelve months. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. At December 31, 2006, the Company had not yet achieved profitable operations, has accumulated losses of $31,332,720 since its inception, has a working capital deficiency of $3,017,690 and expects to incur further losses in the development of its business, all of which casts substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations 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 considers that the Company will be able to obtain additional funds by equity financing and/or related party advances; however there is no assurance of additional funding being available.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 2
(Unaudited)

Note 3 Investments

i) UFI Tec GmbH

By an agreement dated November 30, 2004 and effective December 10, 2004, the Company acquired a 33% interest in UFI-Tech GmbH (“UFI”), a German limited company, for consideration of EUR 25,565 (US $32,476). During the year ended September 30, 2005, the Company wrote down the $32,476 investment and related loans receivable of $67,227 to their net realizable value of $1. During the year ended September 30, 2006, the Company sold 13.1% of their 33% interest (19.9% interest remains) for proceeds of EUR 10,072 (US $12,237) and wrote down an additional loan receivable of $66,094 to its net realizable value of $1.

ii) By an agreement dated February 18, 2006, the Company acquired a 51% interest in TMR GmbH (“TMR”), a German limited company, in consideration of EUR 12,750 (US $15,999). TMR is involved in the development, installation, distribution and management of renewable resources. At the date of acquisition, TMR had no business, assets or liabilities. During the year ended September 30, 2006, the Company wrote down its investment by $15,674 (EUR 12,749) to $1. During the three months ended December 31, 2006, the Company disposed of its interest in TMR for $1.

Note 4 Related Party Transactions – Note 7

The Company incurred the following amounts charged by directors of the Company, the brother of a director of the Company and a law firm of which a former director of the Company is a partner:

Three months ended
December 31,
2006 2005

Development costs $ 88,013 $ 191,595
Legal fees - 26,073
Management fees 57,988 124,857
Travel - 1,780

$ 146,001 $ 344,305

Accounts receivable – other includes $59,367 related to an advance to a former officer of the Company.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 3
(Unaudited)

Note 4 Related Party Transactions – Note 7 – (cont’d)

Included in accounts payable and accrued liabilities is $77,498 (September 30, 2006: $79,358) due to directors of the Company and a former director of the Company. These amounts are unsecured, non-interest bearing and have no specific terms for repayment.

Included in loans payable is $1,527,238 (September 30, 2006: $1,441,507) due to a law firm of which a former director of the Company is a partner.

Note 5 Loans Payable

Of the total loans outstanding at December 31, 2006, $950,886 (September 30, 2006: $883,822) bear interest at 7.5% per annum, are secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $773,403 (September 30, 2006: $743,675) are non-interest bearing, secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $1,319,261 (September 30, 2006: $634,276) are non-interest bearing, unsecured and due on demand, and $122,185 (September 30, 2006: $115,326) of loans payable bear interest of 7.5% per annum, are unsecured and are repayable on or before December 31, 2006. The loans due on or before December 31, 2006 were not repaid and are consequently in default. The company has imputed interest on the non-interest bearing loans at 10% per annum for a total of $24,000 during the three months ended December 31, 2006.

Note 6 Capital Stock – Note 8

Commitments:

Share Purchase Options

On December 21, 2006, the Company adopted a second stock incentive plan (the “2006 Stock Option Plan”) to provide incentives to employees, directors, officers and permitted consultants. The 2006 Stock Plan provides for the issuance of up to 7,000,000 options with a term to be determined by the plan administer or, if not so established, ten years. The maximum aggregate number of shares that may be optioned under the 2006 Stock Option Plan will be increased effective the first day of each of the Company’s fiscal quarters (“adjustment date”), beginning with the fiscal quarter commencing April 1, 2007 by an amount equal to the lesser of i) 15% of the outstanding shares on the first day of the applicable quarter less a) the number of shares of common stock that may be optioned and sold under the plan prior to the adjustment date and b) the number of shares of common stock that may be optioned and sold under any other stock option plan in effect as of the adjustment date or ii) such lesser number of shares of common stock as may be determined by the Board.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 4
(Unaudited)

Note 6 Capital Stock – Note 8 – (cont’d)

Commitments: – (cont’d)

Share Purchase Options – (cont’d)

A summary of the stock options outstanding as at December 31, 2006 and changes during the period is presented below:

Weighted
Average
Exercise
Shares Price

Options outstanding at September 30, 2006 7,535,000 $ 1.70
Granted 4,500,000 $ 0.40

Options outstanding at December 31, 2006 12,035,000 $ 1.21

Options exercisable at December 31, 2006 7,535,000

A summary of stock options outstanding at December 31, 2006, is as follows:

Exercise
Number Price Expiry Date

562,500 $0.40 April 1, 2009
562,500 $0.40 July 1, 2009
562,500 0.40 October 1, 2009
7,535,000 $1.70 October 15, 2009
562,500 $0.40 January 1, 2010
562,500 $0.40 April 1, 2010
562,500 $0.40 July 1, 2010
562,500 $0.40 October 1, 2010
562,500 $0.40 January 1, 2011

12,035,000

The Company used the Black-Scholes option pricing model to compute estimated fair value at each of the grant dates.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 5
(Unaudited)

Note 6 Capital Stock – Note 8– (cont’d)

Commitments – (cont’d)

Share Purchase Options – (cont’d)

The Black-Scholes option-pricing model requires the input of highly subjective assumptions including the expected price volatility. Changes in the subjective input assumptions can materially affect the fair value estimate and therefore the Black-Scholes model does not necessarily provide a reliable single measure of the fair value of the Company’s share purchase options.

The Company used the Black-Scholes option pricing model to compute the estimated fair value of the options granted during the three months ended December 31, 2006, based on the following assumptions:

Risk-free interest rate 4.84%
Dividend yield rate 0.00%
Price volatility 159.23%
Weighted average expected life of options 2.03 years
Weighted average fair value $0.36

The Company recognized stock-based compensation of $57,242 during the three months ended December 31, 2006.

Share Purchase Warrants

As at December 31, 2006, a total of 2,406,335 share purchase warrants exercisable into 2,406,335 common shares were outstanding as follows:

Exercise
Number Price Expiry Date

1,169,960 $1.30 February 9, 2008
1,245,375 $1.10 June 15, 2008

2,406,335


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 6
(Unaudited)

Note 7 Commitments

i) Lease Contracts

By four lease agreements dated September 30, 2004 and effective October 1, 2004, the Company entered into four lease contracts for the Company’s corporate head office. The leases require total payments of EUR 6,690 (US$8,826) per month. Two of the leases are effective until May 31, 2007 and the other two are effective until December 31, 2007. The leases will be automatically extended every year unless cancelled with six months advance notice.

Minimum future lease payments

September 30, 2007 $ 80,960
2008 12,144

$ 93,104

ii) Management/Consulting Contracts


a) By a management consulting contract dated September 30, 2004 and effective October 1, 2004, the Company’s subsididary (“GmbH”) agreed to pay EUR15,000 (US $19,789) per month to a managing director of GmbH for development, production and quality assurance services. The managing director of the GmbH is also a director of the Company. This contract is for an unlimited term but may be terminated by either party with six months advance notice.


b) By a consulting agreement dated October 1, 2004, the Company agreed to pay $2,000 per month to a consultant of the Company. The agreement is effective for a term of 5 years. The Company granted 500,000 common stock options upon signing of the agreement. The exercise price of the stock options is $1.70 per share and expires on October 15, 2009.


c) By a management consulting contract dated and effective October 1, 2004, the Company agreed to pay EUR 5,000 (US$6,274) per month for marketing and business development services. Effective October 1, 2005, the contract was amended to increase the payment to EUR 7,500 (US $9,411) per month. Effective October 1, 2006, the contract was amended to EUR 15,000 (US$19,028) per month for October, November and December, 2006. By an agreement dated November 1, 2006 and effective January 11, 2007, the Company agreed to the payment of EUR 2,000 (US $2,638) per month until December 31, 2007 and a 5% commission of gross sales to third parties which occurred as a result of the consultant’s work. The contract automatically renews for one year if not terminated at the end of a year by giving six months advance notice.



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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 7
(Unaudited)

Note 7 Commitments – (cont’d)

ii) Management/Consulting Contracts – (cont’d)

d) By a management consulting contract dated and effective January 1, 2005, the GmbH agreed to pay EUR 5,520 (US $7,002) per month for marketing, sales and distribution services. By an agreement dated November 10, 2006 and effective January 1, 2007, the contract was amended to decrease the payment to EUR 3,750 (US $4,947) per month with additional payments of EUR 10,000 (US $12,686) and EUR 5,000 (US$6,343) in November and December 2006 respectively. The contract ends on December 31, 2007 and may be terminated by either party with three months advance notice.

e) By a management consulting agreement dated August 1, 2005, the GmbH agreed to pay EUR 3,900 (US $5,145) per month for administration services for the research and development department. The contract is for an unlimited term and may be terminated by either party by giving six months advance notice.

f) By a management consulting contract dated December 12, 2005 and effective January 1, 2006, the GmbH agreed to pay EUR 20,000 (US $25,371) per month to March 31, 2006 and EUR 25,000 (US $31,714) per month to December 31, 2006 for technical services. Effective September 18, 2006, the contract was amended and the payment was decreased to EUR 10,000 (US$ 12,686) per month and extended to June 30, 2007. The management consulting contract is with a company owned by a director of the Company.

g) By a management consulting contract dated November 10, 2004, the Company agreed to pay EUR 500 (US $660) per press release to a former director of the Company. This contract is for an unlimited term but may be terminated by either party with one month advance notice.

h) By management consulting agreements dated December 28, 2006, the Company agreed to pay directors of the Company a total of EUR 56,000 (US $73,879) for the period October 1, 2006 to December 31, 2006 and EUR 14,000 (US $18,470) per month for the period January 1, 2007 to September 30, 2007. The contract is for an unlimited term but may be terminated by either party with three months advance notice.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 8
(Unaudited)

Note 8 Subsequent Event

Subsequent to December 31, 2007, the Company approved a private placement offering of 7,500,000 units at $0.30 per unit with each unit consisting of one share of the Company’s common stock and one-half share purchase warrant for total proceeds of $2,250,000. Each share purchase warrant entitles the holder to purchase one additional share of the Company’s common stock at $0.35 per share for a period of one year from the date of issuance of the units.


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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this Quarterly Report constitute "forward-looking statements". These statements, identified by words such as “plan”, "anticipate," "believe," "estimate," "should," "expect" and similar expressions include our expectations and objectives regarding our future financial position, operating results and business strategy. These statements reflect the current views of management with respect to future events and are subject to risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from those described in the forward-looking statements. Such risks and uncertainties include those set forth under the caption "Management's Discussion and Analysis or Plan of Operation" and elsewhere in this Quarterly Report. We do not intend to update the forward-looking information to reflect actual results or changes in the factors affecting such forward-looking information. We advise you to carefully review the reports and documents we file from time to time with the United States Securities and Exchange Commission (the “SEC”), particularly our Annual Reports on Form 10-KSB and our Current Reports on Form 8-K.

As used in this Quarterly Report, the terms "we", "us", "our", “the Company” and “Aqua Society” mean Aqua Society, Inc. unless otherwise indicated. All dollar amounts in this Quarterly Report are in U.S. dollars unless otherwise stated.

INTRODUCTION

The following discussion and analysis summarizes our plan of operation for the next twelve months, our results of operations for the three month period ended December 31, 2006 and changes in our financial condition from September 30, 2006. This discussion should be read in conjunction with the Management’s Discussion and Analysis or Plan of Operation included in our Annual Report on Form 10-KSB for the year ended September 30, 2006.

We were incorporated under the laws of the State of Nevada on March 2, 2000, under the name “V G Tech, Inc.”

On September 22, 2004, we completed the acquisition of Aqua Society GmbH (“Aqua GmbH”). Prior to our acquisition of Aqua GmbH, we were in the business of providing services in the areas of digital graphics and special effects. Upon completing the acquisition of Aqua GmbH, we abandoned this digital imaging business. We are now in the business of designing and developing applied technologies, and providing consulting services, in the areas of heating, ventilation, air conditioning, refrigeration, water purification, waste water treatment, and, our latest business segment, energy (collectively, the “Aqua Business”).

Effective December 27, 2004, we changed our name to “Aqua Society, Inc.” to better reflect the nature of our current business operations

Recent Corporate Developments

The following significant corporate developments have occurred since our fiscal year ended September 30, 2006:

1. After the completion of our 2006 fiscal year, we completed the construction of a demonstration prototype of our EnergyMission / Yellow Box technology. A media event to showcase this demonstration model was held at our facilities on December 21, 2006. This demonstration unit will be used by us for marketing and demonstration purposes as well as for research and development.


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2. On December 21, 2006, our Board of Directors approved and adopted our 2006 Stock Option Plan (the “2006 Option Plan”). Under the 2006 Option Plan, options may be granted for a maximum of 7,000,000 shares of our common stock. The maximum number of shares that may be optioned under the 2006 Option Plan will increase each fiscal quarter, beginning with the fiscal quarter commencing April 1, 2007, by an amount equal to 15% of the total increase in the number of shares of common stock outstanding or such lesser amount as may be determined by our Board of Directors.


A summary of our 2006 Option Plan is set forth in our Current Report on Form 8-K filed with the SEC on December 29, 2006. The full text of the 2006 Option Plan is attached as Exhibit 10.1 to our Current Report on Form 8-K filed with the SEC on December 29, 2006, and is incorporated by reference herein.


3. Also on December 21, 2006, our Board of Directors approved the grant of options under the 2006 Option Plan for 2,500,000 shares of our common stock at an exercise price of $0.40 per share to Mr. Terberg and options to purchase an aggregate of 2,000,000 shares of our commons stock to Mr. van der Zee, also at a price of $0.40. The options granted to each of Mr. Terberg and Mr. van der Zee vest in equal quarterly instalments, commencing on April 1, 2007 and expiring 2 years after the applicable vesting date.


Changes to the Board of Directors and Executive Officers

In addition to the above corporate developments, there have been a number of changes to our Board of Directors and executive officers since the end of our 2006 fiscal year.

Effective October 31, 2006, Robert Terberg replaced Petrus Lodestijn as our Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary and also as a member of our Board of Directors. Also effective on October 31, 2006, our Board of Directors was expanded by the appointment of Hubert Hamm as a director of the Company and by the appointment of Hugo van der Zee as the Chairman of the Company’s Board of Directors.

PLAN OF OPERATION

During the next twelve months, we will focus: (1) on the design and construction of products ordered from us; (2) on further developing the market for our products; and (3) on continuing to develop and improve our products. Specifically, our plan of operation for the next twelve months involves the following:

1. Design and Construction of Ordered Units: During the next twelve months, we will work on the design and construction of the waste heat power generation, AquaMission and ThermoMobil units for which we have received orders.


2. Market Development Activities: Over the next twelve months we intend to do the following in an effort to continue developing a market for our products and services:


(a) We have completed the construction of a prototype EnergyMission / Yellow Box unit that we will use for marketing and demonstration purposes, as well as for ongoing research and development. The prototype unit will be used by us to demonstrate the effectiveness of our technology to trade media and industry representatives on an ongoing basis.


(b) We are also in the process of setting up a wholly owned subsidiary in the Netherlands (the “Dutch Subsidiary”), through which we will seek to promote all of our products in the “Benelux” countries (Belgium, the Netherlands and Luxemberg). In addition, we intend to use the Dutch Subsidiary to establish an additional production facility to be located in


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the Netherlands. This production facility is expected to enable us to significantly expand our production capabilities from the limited facilities located in Herten, Germany. The Dutch Subsidiary is expected to be based in Zevenaar, near Arnhem, in the east of the Netherlands.


(c) We will continue to attempt to market the AquaMission combined air-conditioning and drinking water product in geographic locations with high ambient temperatures and relative humidity but without readily available sources of fresh water, such as the Persian Gulf and the Middle East. Three demonstration models of the AquaMission are currently on location in the Middle East. We are currently in the process of seeking new sales agents for our products in the Middle East.


We will continue to try and generate sales in the Middle East using these demonstration models.


In addition to these activities, we may also seek to increase brand awareness through various advertising activities and sponsorships.

3. Product Development Activities: During the next twelve months, we will also continue to work on further developing and improving our existing products in an effort to increase their marketability. As part of these efforts, we have developed and built a demonstration model of our Yellow Box technology.


We are also in the process of constructing a high-tech “climate room” that will allow us to simulate the world’s various humidity and temperature zones. This “climate room” will assist us in optimizing our AquaMission unit for different geographic locations.


We anticipate spending approximately $2,000,000 in pursuing our plan of operation over the next twelve months. As of December 31, 2006, the date of our most recently available financial statements, we had a working capital deficit of $3,017,690. As such, we do not have sufficient working capital to meet our expected needs over the next twelve months. Although we have recently begun to earn revenues, we have not yet earned a net profit and we do not expect to achieve profitability in the near future as we expect to continue to incur substantial product development, marketing and operating expenses. We are likely to continue to need substantial additional financing in order to implement our plan of operation. Our management expects that any additional financing that we obtain will likely be in the form of equity financing.

Our actual expenditures and business plan may differ from the one stated above. Our Board of Directors may decide not to pursue this plan. In addition, we may modify the plan based on available financing.

RESULTS OF OPERATIONS

First Quarter Summary

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Revenue $25,441 $782,242 (96.7)%
Cost of Goods Sold (580) (593,010) (99.9)%
General and Administrative Expenses (979,578) (1,319,826) (25.8)%
Other Items Nil (5,292) (100.0)%
Net Loss $(954,717) $(1,125,302) (15.2)%

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Revenues

During our last fiscal year, we earned revenues from HVAC&R and energy optimization consulting services, and from equipment sales made in connection with the provision of those services. However, we do not have a long-term history of earning revenues and, as a result, we are unable to accurately forecast future revenues. Readers are cautioned that our past operating results may not be indicative of future performance.

During the fiscal year ended December 31, 2006, our revenue decreased by 96.7% as compared to the same period ended in 2005. Since their appointment in October, 2006, our new executive officers and directors have been conducting a company wide review of our operations. During this period, we scaled back our HVAC&R and energy optimizing consulting activities. As a result, our revenues decreased substantially.

During the next twelve months, we intend to concentrate our resources on developing the market for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, as we believe that these products will provide us with the greatest opportunity for future profitability. As a result, we may continue to scale back the HVAC&R and energy optimization consulting services that we have provided in the past.

Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products, and there are no assurances that we will be able earn such revenues in the future.

Operating Costs and Expenses

Our operating expenses for the quarterly period ended December 31, 2006 consisted of the following:

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Accounting and audit fees $73,443 $57,121 28.6%
Advertising and promotion 19,329 58,187 (66.8)%
Amortization 5,899 6,584 (10.4)%
Bad debts 28,431 43,685 (34.9)%
Bank charges and interest 117 85 37.6%
Consulting fees 36,634 177,085 (79.3)%
Development costs 268,919 412,455 (34.8)%
Filing fees 867 121 616.5%
Interest 57,256 57,088 0.3%
Legal fees 130,228 36,264 259.1%
Management fees 57,988 124,857 (53.6)%
Office and miscellaneous 23,270 66,274 (64.9)%
Rent 26,154 28,917 (9.6)%
Salaries and benefits 154,052 96,888 (59.0)%
Stock-based compensation 57,242 Nil 100.0%
Transfer agent 225 815 (72.4)%

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Travel 39,524 80,478 (50.9)%
Write down of patents Nil 8,994 (100.0)%
Write down of inventory Nil 63,928 (100.0)%
Total General and Administrative Expenses $979,578 $1,319,826 (25.8)%

Our general and administrative expenses decreased by $340,248, or 25.8%, during the three month period ended December 31, 2006 as compared to 2005. This decrease in our general and administrative expenses was primarily generated as a result of the efforts of our current management to streamline our operations. During the next few months, we expect that our general and administrative expenses will continue to fluctuate somewhat as we continue to review and overhaul our current operations.

Management fees decreased by $66,869, or 53.6%, during the quarter ended December 31, 2006, primarily because of the termination of a management services contract under which we had been obligated to pay management fees of EUR 20,000 per month to a law firm of which a former officer and director is a partner. Also, during the last fiscal quarter, we scaled back some of our product development activities as our management conducted a company wide assessment of our operations. As a result, development costs, and consulting fees associated with our development activities, also decreased significantly during our last fiscal quarter. Office and travel expenses also decreased primarily as a result of our efforts to streamline our operations. Also contributing to the overall decrease in our general and administrative expenses from the quarter ended December 31, 2005 was the fact that, during our December 31, 2005 fiscal quarter, we recognized one-time patent and inventory write down charges totaling $72,922. No patent or inventory write down charges were recognized for the period ended December 31, 2006.

Offsetting the above decreases were significant increases in accounting and audit fees, legal fees and salaries and benefits. The increase in legal fees relates primarily to amounts incurred in connection with the negotiation of our patent licensing agreement with Ecoenergy Patent GmbH and in connection with the restructuring of our operations by our new management. The events giving rise to the additional amounts spent on legal fees are not expected to be ongoing. Accounting and auditing fees increased as a result of an increase in the amounts charged by our consulting accountants and by our independent auditors. The increase in salaries and benefits was a result of the hiring of two additional non-management employees.

Also, during the period ended December 31, 2007, we recorded stock-based compensation expenses of $57,242 on account of stock options granted to certain of our officers and directors during the period. No options or other stock-based compensation were granted during the period ended December 31, 2005.

LIQUIDITY AND CAPITAL RESOURCES

Working Capital

At At Percentage
December 31, 2006 September 30, 2006 Increase / (Decrease)
Current Assets $675,063 $854,960 (21.0)%
Current Liabilities (3,692,753) (2,914,370) 26.7%
Working Capital Surplus (Deficit) $(3,017,690) $(2,059,410) 46.5%

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Included in current liabilities are a total of $1,527,238 payable to a law firm of which one of our former officers and directors, is a partner. We are currently in negotiations with the former officer and director for the settlement of the amounts owed to him and his law firm.

Cash Flows

Three Months Ended December 31
2006 2005
Cash Flows used in Operating Activities $(767,895) $(623,299)
Cash Flows used in Investing Activities 5,634 (20,210)
Cash Flows from Financing Activities 677,508 174,408
Effects of Foreign Exchange Rates 6,158 (7,730)
Net Decrease in Cash During Period $(78,595) $(476,831)

During the period ended December 31, 2006, we obtained financing in the form of a EUR 500,000 loan. This loan is unsecured, non-interest bearing and payable upon demand.

Total loans payable at December 31, 2006 consist of the following amounts:

(a) $950,886, bearing interest at a rate of 7.5% per annum, secured by accounts receivable and repayable on or before December 31, 2006;


(b) $773,403, non-interest bearing, secured by accounts receivable and repayable on or before December 31, 2006;


(c) $122,185, bearing interest a rate of 7.5% per annum, unsecured and payable on or before December 31, 2006; and


(d) $1,319,261, non-interest bearing, unsecured and due on demand.


The amounts payable on or before December 31, 2006 have not yet been repaid and are past due. We are currently in negotiations with our creditors for the settlement and repayment of amounts owed to them.

As at December 31, 2006 we had cash in the amount of $108,837 and a working capital deficit of $3,017,690. We anticipate spending approximately $2,000,000 over the next 12 months in pursuing our plan of operation. We will require substantial additional financing in the next few months in order to pursue our current plan of operation.

Although we earned revenues during our fiscal year ended September 30, 2006, we did not earn significant revenues during the fiscal quarter ended December 31, 2006 and we have not yet achieved profitability. Our future financial results are uncertain due to a number of factors, many of which are outside of our control. These factors include, but are not limited to:

(a) our ability to commercially market our ThermoMobil and AquaMission products;


(b) our ability to develop a commercially marketable EnergyMission/Yellow Box product;


(c) our ability to raise additional capital necessary to implement our business strategy and plan of operation;


(d) our ability to compete with other existing technologies; and


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(e) the success of any marketing and promotional campaign which we conduct for our products once development is complete.


Due to the uncertainty regarding our future revenues and profitability, we expect that the majority of additional financing that we obtain, if any, will likely be in the form of equity financing. Our management does not expect sufficient debt financing to be available to us through traditional sources at this stage of our business.

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 are material to our stockholders.

CRITICAL ACCOUNTING POLICIES

The preparation of financial statements in conformity with generally accepted accounting principles requires our management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Our management routinely makes judgments and estimates about the effects of matters that are inherently uncertain.

We have identified certain accounting policies, described below, that are most important to the portrayal of our current financial condition and results of operations. Our significant accounting policies are disclosed in Note 3 to the interim financial statements included in this Quarterly Report.

Principles of Consolidation

The consolidated financial statements include the accounts of Aqua Society, Inc and our wholly owned subsidiary, Aqua Society GmbH, a German limited liability company (“Aqua GmbH”). All inter-company transactions have been eliminated.

Foreign Currency Translation

Our functional currency is United States dollars. Our subsidiary, Aqua GmbH, uses the Euro as its functional currency. Accordingly, assets and liabilities of Aqua GmbH are translated into US dollars at the exchange rate in effect at the balance sheet date and capital accounts are translated at historical rates. Income statement accounts are translated at the average rates of exchange prevailing during the period. Translation adjustments arising from the use of differing exchange rates from period to period are included in the Accumulated Other Comprehensive Gain/(Loss) account in Stockholders’ Equity.

Transactions undertaken in currencies other than the functional currency of the entity are translated using the exchange rate in effect as of the transaction date. Any exchange gains and losses would be included in the Statement of Operations.

Patents, Patent Rights and Amortization

Patents and patent rights are recorded at cost. We provide for the amortization of patents and patent rights on the straight-line basis over their estimated economic lives, estimated to be 5 years. Amortization is recorded upon the patents being awarded.

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RISKS AND UNCERTAINTIES

Need For Financing

We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability. We are likely to continue to need substantial additional financing in order to implement our long term business plan. There is no assurance that we will be able to acquire sufficient financing on terms acceptable to us or at all. If financing is not available or obtainable, our ability to meet our financial obligations and pursue our plan of operation will be substantially limited and investors may lose a substantial portion or all of their investment

Limited Operating History, Risks Of A New Business Venture

We are still in the process of developing our business and have only recently begun to earn revenues. Readers are cautioned that our past results may not be indicative of future performance.

Potential investors should be aware of the difficulties normally encountered by a new enterprise and the high rate of failure of such enterprises. The potential for future success must be considered in light of the problems, expenses, difficulties complications and delays encountered in connection with the development of a business in the area in which we intend to operate and in connection with the formation and commencement of operations of a new business in general. These include, but are not limited to, unanticipated problems relating to research and development programs, marketing, approvals by government agencies, competition and additional costs and expenses that may exceed current estimates. There is no history upon which to base any assumption as to the likelihood that we will prove successful, and there can be no assurance that we will ever achieve profitable operations.

If We Are Unable To Achieve Market Acceptance For Our Products, We Will Be Unable To Build Our Business

To date, we have completed technical development of our EnergyMission/Yellow Box, ThermoMobil and AquaMission products. However, we have only received a limited number of confirmed orders for these products. Our future success will depend upon the acceptance of our existing products, and other products that we develop, by the respective industries in which we intend to market those products. Achieving such acceptance will require significant investments in research and development and market development. The technologies upon which our products and services are based are relatively new and are evolving. Accordingly, in order to achieve commercial acceptance, we will have to educate prospective clients about the uses and benefits of our products.

Even If We Are Able To Develop A Commercial Market For Our Products, We May Not Have The Ability To Meet The Demand For Those Products

We intend to complete the construction of the initial AquaMission, ThermoMobil and EnergyMission/Yellow Box units ordered from us at our facilities located in Herten, Germany. However, the size of these facilities is limited.

We are currently in the process of establishing a wholly owned subsidiary in the Netherlands, with which we intend to establish a larger scale production facility. Further, we intend to seek supply contracts and/or joint venture/licensing agreements with independent manufacturing companies to manufacture our products on a large scale basis, however we have not yet entered into any such contracts or agreements.

Our Operations May Be Subject to Extensive Government Regulation

Our operations may be subject to extensive government regulations in the United States, Europe and elsewhere. In order to sell our products, we may have to satisfy numerous mandatory procedures,

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regulations, and safety standards established by international, federal and state regulatory agencies. Although we currently comply with stringent German regulations, there can be no assurance that we can successfully comply with all present and future government regulations worldwide.

Risks of International Business Operations

Although we are incorporated in the United States, the majority of our operating activities are conducted in Germany. Additionally, in the past, we have targeted markets for our products in the Persian Gulf and other developing parts of the world, such as Africa. As such, a significant portion of our business depends upon our ability to establish and maintain successful relationships with businesses and governments located outside of the United States. If we are unable to establish and maintain such relationships, we may not be able to implement our business plan or plan of operations.

In order to better manage the risks associated with our international operations, our management has decided to focus their business development efforts on markets near to our base of operations, such as Germany, the Netherlands and the rest of Europe.

Rapid Technological Changes In Our Industry Could Make Our Products Obsolete

The industry in which we intend to compete is characterized by rapid technological change and intense competition. New technologies, products and industry standards will develop at a rapid pace which could make our planned products obsolete. Our future success will depend upon our ability to develop and introduce product enhancements to address the needs of our customers.

Asserting And Defending Intellectual Property Rights May Impact Results Of Operations

The success of our business may depend on our ability to successfully defend our intellectual property rights. Future litigation may have a material impact on our financial condition even if we are successful in developing and marketing products. We may not be successful in defending or asserting our intellectual property rights.

An adverse outcome in any litigation or interference proceeding could subject us to significant liabilities to third parties and require us to cease using the technology that is at issue or to license the technology from third parties. In addition, a finding that any of our intellectual property rights are invalid could allow our competitors to more easily and cost-effectively compete. Thus, an unfavorable outcome in any patent litigation or interference proceeding could have a material adverse effect on our business, financial condition or results of operations.

The cost to us of any patent litigation or interference proceeding could be substantial. Uncertainties resulting from the initiation and continuation of patent litigation or interference proceedings could have a material adverse effect on our ability to compete in the marketplace. Patent litigation and interference proceedings could also absorb significant management time.

We May Be Subject To Product Liability Lawsuits

We may be subject to product liability claims. Such claims may absorb significant management time and could degrade our reputation and the marketability of our products. If product liability claims are made with respect to our products, we may need to recall the implicated product which could have a material adverse effect on our business, financial condition and results of operations. In addition, although we may maintain product liability insurance, we cannot be sure that such insurance will be adequate to cover potential product liability lawsuits. Insurance is expensive and in the future may not be available on acceptable terms, if at all. If a successful product liability claim or series of claims exceeds insurance coverage, it could have a material adverse effect on our business, financial condition and results of operations.

11


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If We Are Late In Filing Any Of Our Annual Or Quarterly Reports During The Next Two Years, Our Common Stock May Become Ineligible For Quotation On The OTC Bulletin Board, Which Would Negatively Affect The Market For Our Shares And Our Ability To Obtain Additional Financing.

On November 16, 2005, the SEC approved certain changes to NASD Rule 6530. As amended, NASD Rule 6530 provides that OTC Bulletin Board (“OTCBB”) issuers who are late in filing their annual or quarterly reports three times within a 24-month period will be ineligible for quotation on the OTCBB. In order to regain eligibility under this rule, the issuer would need to timely file all of its annual and quarterly reports due in a one year period. The amended NASD Rule 6530 does not apply to annual or quarterly reports for periods ended before October 1, 2005.

From time to time, we have been late in filing our quarterly and annual reports. If we are late in filing our annual or quarterly reports three times within a 24-month period, we may become ineligible for quotation on the OTCBB, which would negatively affect the market for our common stock. In addition, if our common stock is no longer eligible for quotation on the OTCBB, it may become more difficult for us to obtain additional equity financing as shares of our common stock will be less attractive to potential investors.

ITEM 3. CONTROLS AND PROCEDURES.

Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as of the end of the period covered by this report. Based on that evaluation, our principal executive officer and principal financial officer has concluded that our disclosure controls and procedures were not effective as we failed to timely file our periodic reports with the SEC on a number of occasions during the past fiscal year.

Our new management is in the process of taking measures to improve our disclosure controls and procedures in an effort to ensure that the information required to be disclosed is internally communicated and publicly reported within the time periods specified in the SEC’s rules and forms. In particular, we intend to engage outside consultants to assist us in the preparation of our accounting records and financial statements and will attempt to increase internal accountability and to clearly define internal communication channels in an effort to remedy the deficiencies identified by our principal executive officer and principal financial officer.

By working with our external consultants and our principal independent accountants, our management believes that the financial statements and the other information presented in this Quarterly Report are materially correct.

There were no changes in our internal control over financial reporting during the last fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

12


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PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

None.

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

All unregistered sales of our equity securities completed during our fiscal quarter ended December 31, 2006 have been previously reported in the Quarterly Reports on Form 10-QSB and Current Reports on Form 8-K that we filed during that period.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

None.

ITEM 5. OTHER INFORMATION.

Compensatory Arrangements Of Certain Officers

Effective December 28, 2006, we entered into management consulting services agreements with each of Robert Terberg, our current Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary, and currently a member of our Board of Directors, and Hugo van der Zee, currently the Chairman of our Board of Directors. The terms of our agreements with Mr. Terberg and Mr. van der Zee are disclosed in our Annual Report filed with the SEC on January 16, 2007.

ITEM 6. EXHIBITS.

Exhibit
Number Description of Exhibit
3.1 Restated Articles of Incorporation filed with the Nevada Secretary of State effective December 27, 2004.(5)
3.2 Bylaws, effective March 2, 2000.(1)
10.1 Share Purchase Agreement between Water-Capital-Holding Ltd., V G Tech, Inc., Aqua Society GmbH and Steve Livingston, dated for reference September 3, 2004.(2)
10.2 Agreement and Deed of Tran

[westfale64]

#5002:
Da stehen die für Aqua peinlichen Passagen aus dem Quartalsbericht, die der Pusher ständig versucht mit dem vollständigen Quartalsbericht zuzumüllen, damit Hamms Altaktienverkauf an die Dummen nicht behindert wird.

[krofisch]

Antwort auf Beitrag Nr.: 28.073.205 von westfale64 am 02.03.07 17:42:44

Einfach zu schön der tägliche verzweifelte und vor allem kindische Hinweis auf die immer noch typische sehr kreative und merkwürdige \\\\\\\\\\'Übersetzungskunst\\\\\\\\\\' von \\\\\\\\\\'Pinochio\\\\\\\\\\',
der evtl. so manchen mit seinen kopierten Hasspostings doch sehr an ehemalige wegen Unfähigkeit entlassene Hamm-Mitarbeiter erinnert?

Macht nichts!

Das ORIGINAL steht ja in #5003!

[westfale64]

Die wichtigen Passagen in #5002, hier der ganze Bericht.

Das ORIGINAL steht ja hier (Die wichtigen Passagen, die Aqua als Abzockbude outen in rot)Die Fragen dazu, die Aqua seit Jahren nicht beantworten will fett gedruckt.http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

10QSB 1 form10qsb.htm QUARTERLY REPORT FOR THE PERIOD ENDED DECEMBER 31, 2006
--------------------------------------------------------------------------------

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-QSB

(Mark One)

[ X ] Quarterly Report Under Section 13 Or 15(d) Of The Securities Exchange Act Of 1934
For the quarterly period ended December 31, 2006

[ ] Transition Report Under Section 13 Or 15(d) Of The Securities Exchange Act
For the transition period from ________to ________

COMMISSION FILE NUMBER 000-50163

AQUA SOCIETY, INC.
(Exact name of small business issuer as specified in its charter)

NEVADA 52-2357931
(State or other jurisdiction of incorporation or (IRS Employer Identification No.)
organization)

Konrad - Adenauer Strasse 9-13
45699 Herten, Germany
(Address of principal executive offices)

011-49-6031-791-760
Issuer\'s telephone number

Not Applicable
Former name, former address and former fiscal year, if changed since last report

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 [ X ] No [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

State the number of shares outstanding of each of the issuer\'s classes of common equity, as of the latest practicable date: As of February 20, 2007 the Issuer had 118,178,323 Shares of Common Stock outstanding.

Transitional Small Business Disclosure Format (check one): Yes [ ] No [X]

1


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PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

2


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.

INTERIM CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2006

(Stated in US Dollars)

(Unaudited)


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED BALANCE SHEETS
December 31, 2006 and September 30, 2006
(Stated in US Dollars)
(Unaudited)

December 31, September 30,
ASSETS 2006 2006

Current
Cash $ 108,837 $ 187,432 Bei dem cash-Bestand ist die Bude bald zahlungsunfähig
Accounts receivable – trade 76,838 143,039
– other – Note 4 59,367 -
Government value added tax receivable 97,631 217,919
Inventory 332,389 306,569
Loans receivable 1 1

675,063 854,960
Investments – Note 3 2 2
Patents and patent rights 193,485 193,485
Equipment 53,811 65,343

$ 922,361 $ 1,113,790

LIABILITIES

Current
Accounts payable and accrued liabilities – Note 4 $ 527,018 $ 537,271
Loans payable – Notes 4 and 5 3,165,735 2,377,099

3,692,753 2,914,370

STOCKHOLDERS’ DEFICIENCY

Common stock, $0.001 par value – Notes 6 and 8
300,000,000 shares authorized
118,178,323 shares issued and outstanding (September 30, 2006:
118,178,323 shares) 118,179 118,179
Additional paid-in capital 28,690,854 28,609,612
Accumulated other comprehensive loss (246,705 ) (150,368 )
Accumulated deficit (31,332,720 ) (30,378,003 ) 30 Mio. Verlust hat die Bude schon und nicht ein Gerät verkauft.

(2,770,392 ) (1,800,580 )

$ 922,361 $ 1,113,790

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Sales $ 25,441 $ 782,242
Less: cost of goods sold 580 593,010

24,861 189,232

General and administrative expenses:
Accounting and audit fees 73,443 57,121
Advertising and promotion 19,329 58,187
Amortization 5,899 6,584
Bad debts 28,431 43,685
Bank charges and interest 117 85
Consulting fees 36,634 177,085
Development costs – Note 4 268,919 412,455
Filing fees 867 121
Interest 57,256 57,088
Legal fees – Note 4 130,228 36,264
Management fees – Note 4 57,988 124,857
Office and miscellaneous 23,270 66,274
Rent 26,154 28,917
Salaries and benefits 154,052 96,888
Stock-based compensation 57,242 -
Transfer agent 225 815
Travel – Note 4 39,524 80,478
Write down of patents - 8,994
Write down of inventory - 63,928

(979,578 ) (1,319,826 )

Operating loss before other item (954,717 ) (1,130,594 )

Other item:
Interest income - 5,292

Net loss for the period (954,717 ) (1,125,302 ) 1 Mio. Verlust pro Quartal. Und das bei 25000 Umsatz.
Other comprehensive loss
Foreign currency adjustment (96,337 ) (2,551 )

Comprehensive loss for the period $ (1,051,054 ) $ (1,127,853 )

Basic loss per share $ (0.01 ) $ (0.01 )

Weighted average number of shares outstanding 118,178,323 115,771,988

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Cash flows used in Operating Activities
Net loss for the period $ (954,717 ) $ (1,125,302 )
Items not affecting cash:
Amortization 5,899 6,584
Stock-based compensation 57,242
Write-down of patents - 8,994
Write-down of inventory - 63,928
Interest imputed on loans payable 24,000 -
Changes in non-cash working capital items:
Accounts receivable 10,882 (126,415 )
Government value added tax receivable 126,004 12,329
Inventory (13,251 ) 9,748
Accounts payable and accrued liabilities (23,954 ) 526,835

(767,895 ) (623,299 )

Cash flows used in Investing Activities
Equipment disposal 5,634 48,178
Repayment of loans receivable - (68,388 )

5,634 (20,210 )

Cash flows from Financing Activity
Increase in loans payable 677,508 174,408

Effect of exchange rates on cash 6,158 (7,730 )

Decrease in cash during the period (78,595 ) (476,831 )

Cash, beginning of the period 187,432 658,949

Cash, end of the period $ 108,837 $ 182,118

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Capital stock issued for cash 1 $ 31,042 $ - - $ - $ - $ - $ 31,042
Contribution of assets - - 25,056 - - - - 25,056
Pursuant to the acquisition of Aqua
Society GmbH 10,000,000 10,000 - 34,000,000 34,000 - - 44,000
Exchange of shares (1 ) (31,042 ) - - - - - (31,042 )
Outstanding shares of Company
prior to acquisition 69,908,000 69,908 - - - - (194,748 ) (124,840 )
Unrealized loss on translation - - - - - (997 ) - (997 )
Net loss for the period - - - - - - (67,448 ) (67,448 )

Balance, September 30, 2004 79,908,000 79,908 25,056 34,000,000 34,000 (997 ) (262,196 ) (124,229 )

Issued for cash:
Pursuant to private placement - at $2.40 416,666 417 999,583 - - - - 1,000,000
- at $1.98 1,232,322 1,233 2,438,766 - - - - 2,439,999
Pursuant to exercise of options - at $1.70 215,000 215 365,285 - - - - 365,500
Conversion of special warrants 34,000,000 34,000 - (34,000,000 ) (34,000 ) - - -
Stock-based compensation - - 22,480,000 - - - - 22,480,000
Unrealized gain on translation - - - - - 89,594 - 89,594
Net loss for the year - - - - - - (25,787,558 ) (25,787,558 )

Balance, September 30, 2005 115,771,988 115,773 26,308,690 - - 88,597 (26,049,754 ) 463,306

Pursuant to private placement - at $1.04 1,160,960 1,161 1,206,237 - - - - 1,207,398
- at $0.88 1,245,375 1,245 1,094,685 - - - - 1,095,930
Unrealized loss on translation - - - - - (238,965 ) - (238,965 )
Net loss for the period - - - - - - (4,328,249 ) (4,328,249 )

Balance, September 30, 2006 118,178,323 118,179 28,609,612 - - (150,368 ) (30,378,003 ) (1,800,580 )

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

Continued

AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Stock-based compensation - - 57,242 - - - - 57,242
Unrealized loss on translation - - - - (96,337 ) - (96,337 )
Contribution of interest – Note 5 - - 24,000 - - - - 24,000
Net loss for the period - - - - - - (954,717 ) (954,717 )

Balance, December 31, 2006 118,178,323 $ 118,179 $ 28,690,854 - $ $ (246,705 ) $ (31,332,720 ) $ (2,770,392 )

SEE ACCOMPANYING NOTES


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AQUA SOCIETY, INC.
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2006
(Stated in US Dollars)
(Unaudited)

Note 1 Interim Reporting

While information presented in the accompanying interim consolidated financial statements is unaudited, it includes all adjustments, which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented. All adjustments are of a normal recurring nature. The accompanying interim consolidated financial statements do not include all information and footnote disclosures required for an annual set of financial statements prepared under generally accepted accounting principles in the United States of America. The accompanying interim consolidated financial statements should be read in conjunction with the Company’s September 30, 2006 audited consolidated financial statements. Operating results from the period ended December 31, 2006 are not necessarily indicative of the results that can be expected for the year ending September 30, 2007.


Note 2 Nature and Continuance of Operations

These interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for the next twelve months. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. At December 31, 2006, the Company had not yet achieved profitable operations, has accumulated losses of $31,332,720 since its inception, has a working capital deficiency of $3,017,690 and expects to incur further losses in the development of its business, all of which casts substantial doubt about the Company’s ability to continue as a going concern. Keine profitablen Operationen, , 31 Mio. Verlust, 3 Mio. Überschuldung, weitere Verluste erwartet.Zweifel ob die Firma weitermachen kann.The Company’s ability to continue as a going concern is dependent upon its ability to generate Future profitable operations 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 considers that the Company will be able to obtain additional funds by equity financing and/or related party advances; however there is no assurance of additional funding being available.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 2
(Unaudited)

Note 3 Investments

i) UFI Tec GmbH

By an agreement dated November 30, 2004 and effective December 10, 2004, the Company acquired a 33% interest in UFI-Tech GmbH (“UFI”), a German limited company, for consideration of EUR 25,565 (US $32,476). During the year ended September 30, 2005, the Company wrote down the $32,476 investment and related loans receivable of $67,227 to their net realizable value of $1. During the year ended September 30, 2006, the Company sold 13.1% of their 33% interest (19.9% interest remains) for proceeds of EUR 10,072 (US $12,237) and wrote down an additional loan receivable of $66,094 to its net realizable value of $1.

ii) By an agreement dated February 18, 2006, the Company acquired a 51% interest in TMR GmbH (“TMR”), a German limited company, in consideration of EUR 12,750 (US $15,999). TMR is involved in the development, installation, distribution and management of renewable resources. At the date of acquisition, TMR had no business, assets or liabilities. During the year ended September 30, 2006, the Company wrote down its investment by $15,674 (EUR 12,749) to $1. During the three months ended December 31, 2006, the Company disposed of its interest in TMR for $1.

Note 4 Related Party Transactions – Note 7

The Company incurred the following amounts charged by directors of the Company, the brother of a director of the Company and a law firm of which a former director of the Company is a partner:

Three months ended
December 31,
2006 2005

Development costs $ 88,013 $ 191,595
Legal fees - 26,073
Management fees 57,988 124,857
Travel - 1,780

$ 146,001 $ 344,305

Accounts receivable – other includes $59,367 related to an advance to a former officer of the Company.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 3
(Unaudited)

Note 4 Related Party Transactions – Note 7 – (cont’d)

Included in accounts payable and accrued liabilities is $77,498 (September 30, 2006: $79,358) due to directors of the Company and a former director of the Company. 77000 im Quartal für die Direktoren.Wofür ?These amounts are unsecured, non-interest bearing and have no specific terms for repayment.

Included in loans payable is $1,527,238 (September 30, 2006: $1,441,507) due to a law firm of which a former director of the Company is a partner. 1,5 Mio für den Direktor. Wofür ?

Note 5 Loans Payable

Of the total loans outstanding at December 31, 2006, $950,886 (September 30, 2006: $883,822) bear interest at 7.5% per annum, are secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $773,403 (September 30, 2006: $743,675) are non-interest bearing, secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $1,319,261 (September 30, 2006: $634,276) are non-interest bearing, unsecured and due on demand, and $122,185 (September 30, 2006: $115,326) of loans payable bear interest of 7.5% per annum, are unsecured and are repayable on or before December 31, 2006. The loans due on or before December 31, 2006 were not repaid and are consequently in default. The company has imputed interest on the non-interest bearing loans at 10% per annum for a total of $24,000 during the three months ended December 31, 2006.

Note 6 Capital Stock – Note 8

Commitments:

Share Purchase Options

On December 21, 2006, the Company adopted a second stock incentive plan (the “2006 Stock Option Plan”) to provide incentives to employees, directors, officers and permitted consultants. The 2006 Stock Plan provides for the issuance of up to 7,000,000 options with a term to be determined by the plan administer or, if not so established, ten years. The maximum aggregate number of shares that may be optioned under the 2006 Stock Option Plan will be increased effective the first day of each of the Company’s fiscal quarters (“adjustment date”), beginning with the fiscal quarter commencing April 1, 2007 by an amount equal to the lesser of i) 15% of the outstanding shares on the first day of the applicable quarter less a) the number of shares of common stock that may be optioned and sold under the plan prior to the adjustment date and b) the number of shares of common stock that may be optioned and sold under any other stock option plan in effect as of the adjustment date or ii) such lesser number of shares of common stock as may be determined by the Board.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 4
(Unaudited)

Note 6 Capital Stock – Note 8 – (cont’d)

Commitments: – (cont’d)

Share Purchase Options – (cont’d)

A summary of the stock options outstanding as at December 31, 2006 and changes during the period is presented below:

Weighted
Average
Exercise
Shares Price

Options outstanding at September 30, 2006 7,535,000 $ 1.70
Granted 4,500,000 $ 0.40

Options outstanding at December 31, 2006 12,035,000 $ 1.21

Options exercisable at December 31, 2006 7,535,000

A summary of stock options outstanding at December 31, 2006, is as follows:

Exercise
Number Price Expiry Date

562,500 $0.40 April 1, 2009
562,500 $0.40 July 1, 2009
562,500 0.40 October 1, 2009
7,535,000 $1.70 October 15, 2009
562,500 $0.40 January 1, 2010
562,500 $0.40 April 1, 2010
562,500 $0.40 July 1, 2010
562,500 $0.40 October 1, 2010
562,500 $0.40 January 1, 2011

12,035,000

The Company used the Black-Scholes option pricing model to compute estimated fair value at each of the grant dates.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 5
(Unaudited)

Note 6 Capital Stock – Note 8– (cont’d)

Commitments – (cont’d)

Share Purchase Options – (cont’d)

The Black-Scholes option-pricing model requires the input of highly subjective assumptions including the expected price volatility. Changes in the subjective input assumptions can materially affect the fair value estimate and therefore the Black-Scholes model does not necessarily provide a reliable single measure of the fair value of the Company’s share purchase options.

The Company used the Black-Scholes option pricing model to compute the estimated fair value of the options granted during the three months ended December 31, 2006, based on the following assumptions:

Risk-free interest rate 4.84%
Dividend yield rate 0.00%
Price volatility 159.23%
Weighted average expected life of options 2.03 years
Weighted average fair value $0.36

The Company recognized stock-based compensation of $57,242 during the three months ended December 31, 2006.

Share Purchase Warrants

As at December 31, 2006, a total of 2,406,335 share purchase warrants exercisable into 2,406,335 common shares were outstanding as follows:

Exercise
Number Price Expiry Date

1,169,960 $1.30 February 9, 2008
1,245,375 $1.10 June 15, 2008

2,406,335


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 6
(Unaudited)

Note 7 Commitments

i) Lease Contracts

By four lease agreements dated September 30, 2004 and effective October 1, 2004, the Company entered into four lease contracts for the Company’s corporate head office. The leases require total payments of EUR 6,690 (US$8,826) per month. Two of the leases are effective until May 31, 2007 and the other two are effective until December 31, 2007. The leases will be automatically extended every year unless cancelled with six months advance notice.

Minimum future lease payments

September 30, 2007 $ 80,960
2008 12,144

$ 93,104

ii) Management/Consulting Contracts


a) By a management consulting contract dated September 30, 2004 and effective October 1, 2004, the Company’s subsididary (“GmbH”) agreed to pay EUR15,000 (US $19,789) per month to a managing director of GmbH for development, production and quality assurance services. The managing director of the GmbH is also a director of the Company. 15000 im Monat für den Direktor. Wofür ?This contract is for an unlimited term but may be terminated by either party with six months advance notice.


b) By a consulting agreement dated October 1, 2004, the Company agreed to pay $2,000 per month to a consultant of the Company. The agreement is effective for a term of 5 years. The Company granted 500,000 common stock options upon signing of the agreement. The exercise price of the stock options is $1.70 per share and expires on October 15, 2009.


c) By a management consulting contract dated and effective October 1, 2004, the Company agreed to pay EUR 5,000 (US$6,274) per month for marketing and business development services. Effective October 1, 2005, the contract was amended to increase the payment to EUR 7,500 (US $9,411) per month. Effective October 1, 2006, the contract was amended to EUR 15,000 (US$19,028) per month for October, November and December, 2006. By an agreement dated November 1, 2006 and effective January 11, 2007, the Company agreed to the payment of EUR 2,000 (US $2,638) per month until December 31, 2007 and a 5% commission of gross sales to third parties which occurred as a result of the consultant’s work. The contract automatically renews for one year if not terminated at the end of a year by giving six months advance notice.



--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 7
(Unaudited)

Note 7 Commitments – (cont’d)

ii) Management/Consulting Contracts – (cont’d)

d) By a management consulting contract dated and effective January 1, 2005, the GmbH agreed to pay EUR 5,520 (US $7,002) per month for marketing, sales and distribution services. By an agreement dated November 10, 2006 and effective January 1, 2007, the contract was amended to decrease the payment to EUR 3,750 (US $4,947) per month with additional payments of EUR 10,000 (US $12,686) and EUR 5,000 (US$6,343) in November and December 2006 respectively. The contract ends on December 31, 2007 and may be terminated by either party with three months advance notice.

e) By a management consulting agreement dated August 1, 2005, the GmbH agreed to pay EUR 3,900 (US $5,145) per month for administration services for the research and development department. The contract is for an unlimited term and may be terminated by either party by giving six months advance notice.

f) By a management consulting contract dated December 12, 2005 and effective January 1, 2006, the GmbH agreed to pay EUR 20,000 (US $25,371) per month to March 31, 2006 and EUR 25,000 (US $31,714) per month to December 31, 2006 for technical services. Effective September 18, 2006, the contract was amended and the payment was decreased to EUR 10,000 (US$ 12,686) per month and extended to June 30, 2007. The management consulting contract is with a company owned by a director of the Company. Nochmal 20000 im Monat für den Direktor. Wofür ?

g) By a management consulting contract dated November 10, 2004, the Company agreed to pay EUR 500 (US $660) per press release to a former director of the Company. This contract is for an unlimited term but may be terminated by either party with one month advance notice.

h) By management consulting agreements dated December 28, 2006, the Company agreed to pay directors of the Company a total of EUR 56,000 (US $73,879) for the period October 1, 2006 to December 31, 56000 im Quartal für die Direktoren.Wofür?2006 and EUR 14,000 (US $18,470) per month for the period January 1, 2007 to September 30, 2007. The contract is for an unlimited term but may be terminated by either party with three months advance notice.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 8
(Unaudited)

Note 8 Subsequent Event

Subsequent to December 31, 2007, the Company approved a private placement offering of 7,500,000 units at $0.30 per unit with each unit consisting of one share of the Company’s common stock and one-half share purchase warrant for total proceeds of $2,250,000. Each share purchase warrant entitles the holder to purchase one additional share of the Company’s common stock at $0.35 per share for a period of one year from the date of issuance of the units.


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ITEM 2. MANAGEMENT\'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this Quarterly Report constitute "forward-looking statements". These statements, identified by words such as “plan”, "anticipate," "believe," "estimate," "should," "expect" and similar expressions include our expectations and objectives regarding our future financial position, operating results and business strategy. These statements reflect the current views of management with respect to future events and are subject to risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from those described in the forward-looking statements. Such risks and uncertainties include those set forth under the caption "Management\'s Discussion and Analysis or Plan of Operation" and elsewhere in this Quarterly Report. We do not intend to update the forward-looking information to reflect actual results or changes in the factors affecting such forward-looking information. We advise you to carefully review the reports and documents we file from time to time with the United States Securities and Exchange Commission (the “SEC”), particularly our Annual Reports on Form 10-KSB and our Current Reports on Form 8-K.

As used in this Quarterly Report, the terms "we", "us", "our", “the Company” and “Aqua Society” mean Aqua Society, Inc. unless otherwise indicated. All dollar amounts in this Quarterly Report are in U.S. dollars unless otherwise stated.

INTRODUCTION

The following discussion and analysis summarizes our plan of operation for the next twelve months, our results of operations for the three month period ended December 31, 2006 and changes in our financial condition from September 30, 2006. This discussion should be read in conjunction with the Management’s Discussion and Analysis or Plan of Operation included in our Annual Report on Form 10-KSB for the year ended September 30, 2006.

We were incorporated under the laws of the State of Nevada on March 2, 2000, under the name “V G Tech, Inc.”

On September 22, 2004, we completed the acquisition of Aqua Society GmbH (“Aqua GmbH”). Prior to our acquisition of Aqua GmbH, we were in the business of providing services in the areas of digital graphics and special effects. Upon completing the acquisition of Aqua GmbH, we abandoned this digital imaging business. We are now in the business of designing and developing applied technologies, and providing consulting services, in the areas of heating, ventilation, air conditioning, refrigeration, water purification, waste water treatment, and, our latest business segment, energy (collectively, the “Aqua Business”).

Effective December 27, 2004, we changed our name to “Aqua Society, Inc.” to better reflect the nature of our current business operations

Recent Corporate Developments

The following significant corporate developments have occurred since our fiscal year ended September 30, 2006:

1. After the completion of our 2006 fiscal year, we completed the construction of a demonstration prototype of our EnergyMission / Yellow Box technology. A media event to showcase this demonstration model was held at our facilities on December 21, 2006. This demonstration unit will be used by us for marketing and demonstration purposes as well as for research and development.


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2. On December 21, 2006, our Board of Directors approved and adopted our 2006 Stock Option Plan (the “2006 Option Plan”). Under the 2006 Option Plan, options may be granted for a maximum of 7,000,000 shares of our common stock. The maximum number of shares that may be optioned under the 2006 Option Plan will increase each fiscal quarter, beginning with the fiscal quarter commencing April 1, 2007, by an amount equal to 15% of the total increase in the number of shares of common stock outstanding or such lesser amount as may be determined by our Board of Directors.


A summary of our 2006 Option Plan is set forth in our Current Report on Form 8-K filed with the SEC on December 29, 2006. The full text of the 2006 Option Plan is attached as Exhibit 10.1 to our Current Report on Form 8-K filed with the SEC on December 29, 2006, and is incorporated by reference herein.


3. Also on December 21, 2006, our Board of Directors approved the grant of options under the 2006 Option Plan for 2,500,000 shares of our common stock at an exercise price of $0.40 per share to Mr. Terberg and options to purchase an aggregate of 2,000,000 shares of our commons stock to Mr. van der Zee, also at a price of $0.40. The options granted to each of Mr. Terberg and Mr. van der Zee vest in equal quarterly instalments, commencing on April 1, 2007 and expiring 2 years after the applicable vesting date.


Changes to the Board of Directors and Executive Officers

In addition to the above corporate developments, there have been a number of changes to our Board of Directors and executive officers since the end of our 2006 fiscal year.

Effective October 31, 2006, Robert Terberg replaced Petrus Lodestijn as our Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary and also as a member of our Board of Directors. Also effective on October 31, 2006, our Board of Directors was expanded by the appointment of Hubert Hamm as a director of the Company and by the appointment of Hugo van der Zee as the Chairman of the Company’s Board of Directors.

PLAN OF OPERATION

During the next twelve months, we will focus: (1) on the design and construction of products ordered from us; (2) on further developing the market for our products; and (3) on continuing to develop and improve our products. Specifically, our plan of operation for the next twelve months involves the following:

1. Design and Construction of Ordered Units: During the next twelve months, we will work on the design and construction of the waste heat power generation, AquaMission and ThermoMobil units for which we have received orders.


2. Market Development Activities: Over the next twelve months we intend to do the following in an effort to continue developing a market for our products and services:


(a) We have completed the construction of a prototype EnergyMission / Yellow Box unit that we will use for marketing and demonstration purposes, as well as for ongoing research and development. The prototype unit will be used by us to demonstrate the effectiveness of our technology to trade media and industry representatives on an ongoing basis.


(b) We are also in the process of setting up a wholly owned subsidiary in the Netherlands (the “Dutch Subsidiary”), through which we will seek to promote all of our products in the “Benelux” countries (Belgium, the Netherlands and Luxemberg). In addition, we intend to use the Dutch Subsidiary to establish an additional production facility to be located in


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the Netherlands. This production facility is expected to enable us to significantly expand our production capabilities from the limited facilities located in Herten, Germany. The Dutch Subsidiary is expected to be based in Zevenaar, near Arnhem, in the east of the Netherlands.


(c) We will continue to attempt to market the AquaMission combined air-conditioning and drinking water product in geographic locations with high ambient temperatures and relative humidity but without readily available sources of fresh water, such as the Persian Gulf and the Middle East. Three demonstration models of the AquaMission are currently on location in the Middle East. We are currently in the process of seeking new sales agents for our products in the Middle East.


We will continue to try and generate sales in the Middle East using these demonstration models.


In addition to these activities, we may also seek to increase brand awareness through various advertising activities and sponsorships.

3. Product Development Activities: During the next twelve months, we will also continue to work on further developing and improving our existing products in an effort to increase their marketability. As part of these efforts, we have developed and built a demonstration model of our Yellow Box technology.


We are also in the process of constructing a high-tech “climate room” that will allow us to simulate the world’s various humidity and temperature zones. This “climate room” will assist us in optimizing our AquaMission unit for different geographic locations.


We anticipate spending approximately $2,000,000 in pursuing our plan of operation over the next twelve months. As of December 31, 2006, the date of our most recently available financial statements, we had a working capital deficit of $3,017,690. As such, we do not have sufficient working capital to meet our expected needs over the next twelve months.3 Mio- Überschuldung und nicht genug Geld um die nächsten 12 Monate zu überstehen. Although we have recently begun to earn revenues, we have not yet earned a net profit and we do not expect to achieve profitability in the near futureWir werden auch in der Zukunft nicht profitabel sein. as we expect to continue to incur substantial product development, marketing and operating expenses. We are likely to continue to need substantial additional financing in order to implement our plan of operation. Our management expects that any additional financing that we obtain will likely be in the form of equity financing.

Our actual expenditures and business plan may differ from the one stated above. Our Board of Directors may decide not to pursue this plan. In addition, we may modify the plan based on available financing.

RESULTS OF OPERATIONS

First Quarter Summary

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Revenue $25,441 $782,242 (96.7)%
Cost of Goods Sold (580) (593,010) (99.9)%
General and Administrative Expenses (979,578) (1,319,826) (25.8)%
Other Items Nil (5,292) (100.0)%
Net Loss $(954,717) $(1,125,302) (15.2)%

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Revenues

During our last fiscal year, we earned revenues from HVAC&R and energy optimization consulting services, and from equipment sales made in connection with the provision of those services. However, we do not have a long-term history of earning revenues and, as a result, we are unable to accurately forecast future revenues. Readers are cautioned that our past operating results may not be indicative of future performance.

During the fiscal year ended December 31, 2006, our revenue decreased by 96.7% as compared to the same period ended in 2005. Since their appointment in October, 2006, our new executive officers and directors have been conducting a company wide review of our operations. During this period, we scaled back our HVAC&R and energy optimizing consulting activities. As a result, our revenues decreased substantially.

During the next twelve months, we intend to concentrate our resources on developing the market for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, as we believe that these products will provide us with the greatest opportunity for future profitability. As a result, we may continue to scale back the HVAC&R and energy optimization consulting services that we have provided in the past.

Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products,Hier der Beleg, dass Aqua NOCH NIE eine Maschine verkauft gekriegt hat. and there are no assurances that we will be able earn such revenues in the future.

Operating Costs and Expenses

Our operating expenses for the quarterly period ended December 31, 2006 consisted of the following:

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Accounting and audit fees $73,443 $57,121 28.6%
Advertising and promotion 19,329 58,187 (66.8)%
Amortization 5,899 6,584 (10.4)%
Bad debts 28,431 43,685 (34.9)%
Bank charges and interest 117 85 37.6%
Consulting fees 36,634 177,085 (79.3)%
Development costs 268,919 412,455 (34.8)%
Filing fees 867 121 616.5%
Interest 57,256 57,088 0.3%
Legal fees 130,228 36,264 259.1%
Management fees 57,988 124,857 (53.6)%
Office and miscellaneous 23,270 66,274 (64.9)%
Rent 26,154 28,917 (9.6)%
Salaries and benefits 154,052 96,888 (59.0)%
Stock-based compensation 57,242 Nil 100.0%
Transfer agent 225 815 (72.4)%

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Travel 39,524 80,478 (50.9)%
Write down of patents Nil 8,994 (100.0)%
Write down of inventory Nil 63,928 (100.0)%
Total General and Administrative Expenses $979,578 $1,319,826 (25.8)%

Our general and administrative expenses decreased by $340,248, or 25.8%, during the three month period ended December 31, 2006 as compared to 2005. This decrease in our general and administrative expenses was primarily generated as a result of the efforts of our current management to streamline our operations. During the next few months, we expect that our general and administrative expenses will continue to fluctuate somewhat as we continue to review and overhaul our current operations.

Management fees decreased by $66,869, or 53.6%, during the quarter ended December 31, 2006, primarily because of the termination of a management services contract under which we had been obligated to pay management fees of EUR 20,000 per month to a law firm of which a former officer and director is a partner. Also, during the last fiscal quarter, we scaled back some of our product development activities as our management conducted a company wide assessment of our operations. As a result, development costs, and consulting fees associated with our development activities, also decreased significantly during our last fiscal quarter. Office and travel expenses also decreased primarily as a result of our efforts to streamline our operations. Also contributing to the overall decrease in our general and administrative expenses from the quarter ended December 31, 2005 was the fact that, during our December 31, 2005 fiscal quarter, we recognized one-time patent and inventory write down charges totaling $72,922. No patent or inventory write down charges were recognized for the period ended December 31, 2006.

Offsetting the above decreases were significant increases in accounting and audit fees, legal fees and salaries and benefits. The increase in legal fees relates primarily to amounts incurred in connection with the negotiation of our patent licensing agreement with Ecoenergy Patent GmbH and in connection with the restructuring of our operations by our new management. The events giving rise to the additional amounts spent on legal fees are not expected to be ongoing. Accounting and auditing fees increased as a result of an increase in the amounts charged by our consulting accountants and by our independent auditors. The increase in salaries and benefits was a result of the hiring of two additional non-management employees.

Also, during the period ended December 31, 2007, we recorded stock-based compensation expenses of $57,242 on account of stock options granted to certain of our officers and directors during the period. No options or other stock-based compensation were granted during the period ended December 31, 2005.

LIQUIDITY AND CAPITAL RESOURCES

Working Capital

At At Percentage
December 31, 2006 September 30, 2006 Increase / (Decrease)
Current Assets $675,063 $854,960 (21.0)%
Current Liabilities (3,692,753) (2,914,370) 26.7%
Working Capital Surplus (Deficit) $(3,017,690) $(2,059,410) 46.5%

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Included in current liabilities are a total of $1,527,238 payable to a law firm of which one of our former officers and directors, is a partner.[/red]1,5 Mio. für Direktor Stamm. Wofür ? We are currently in negotiations with the former officer and director for the settlement of the amounts owed to him and his law firm.

Cash Flows

Three Months Ended December 31
2006 2005
Cash Flows used in Operating Activities $(767,895) $(623,299)
Cash Flows used in Investing Activities 5,634 (20,210)
Cash Flows from Financing Activities 677,508 174,408
Effects of Foreign Exchange Rates 6,158 (7,730)
Net Decrease in Cash During Period $(78,595) $(476,831)

During the period ended December 31, 2006, we obtained financing in the form of a EUR 500,000 loan. This loan is unsecured, non-interest bearing and payable upon demand.

Total loans payable at December 31, 2006 consist of the following amounts:

(a) $950,886, bearing interest at a rate of 7.5% per annum, secured by accounts receivable and repayable on or before December 31, 2006;


(b) $773,403, non-interest bearing, secured by accounts receivable and repayable on or before December 31, 2006;


(c) $122,185, bearing interest a rate of 7.5% per annum, unsecured and payable on or before December 31, 2006; and


(d) $1,319,261, non-interest bearing, unsecured and due on demand.


The amounts payable on or before December 31, 2006 have not yet been repaid and are past due. We are currently in negotiations with our creditors for the settlement and repayment of amounts owed to them.

As at December 31, 2006 we had cash in the amount of $108,837 and a working capital deficit of $3,017,690. We anticipate spending approximately $2,000,000 over the next 12 months in pursuing our plan of operation. We will require substantial additional financing in the next few months in order to pursue our current plan of operation.

Although we earned revenues during our fiscal year ended September 30, 2006, we did not earn significant revenues during the fiscal quarter ended December 31, 2006 and we have not yet achieved profitability. Our future financial results are uncertain due to a number of factors, many of which are outside of our control. These factors include, but are not limited to:

(a) our ability to commercially market our ThermoMobil and AquaMission products;


(b) our ability to develop a commercially marketable EnergyMission/Yellow Box product;


(c) our ability to raise additional capital necessary to implement our business strategy and plan of operation;


(d) our ability to compete with other existing technologies; and


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(e) the success of any marketing and promotional campaign which we conduct for our products once development is complete.


Due to the uncertainty regarding our future revenues and profitability, we expect that the majority of additional financing that we obtain, if any, will likely be in the form of equity financing. Our management does not expect sufficient debt financing to be available to us through traditional sources at this stage of our business.

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 are material to our stockholders.

CRITICAL ACCOUNTING POLICIES

The preparation of financial statements in conformity with generally accepted accounting principles requires our management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Our management routinely makes judgments and estimates about the effects of matters that are inherently uncertain.

We have identified certain accounting policies, described below, that are most important to the portrayal of our current financial condition and results of operations. Our significant accounting policies are disclosed in Note 3 to the interim financial statements included in this Quarterly Report.

Principles of Consolidation

The consolidated financial statements include the accounts of Aqua Society, Inc and our wholly owned subsidiary, Aqua Society GmbH, a German limited liability company (“Aqua GmbH”). All inter-company transactions have been eliminated.

Foreign Currency Translation

Our functional currency is United States dollars. Our subsidiary, Aqua GmbH, uses the Euro as its functional currency. Accordingly, assets and liabilities of Aqua GmbH are translated into US dollars at the exchange rate in effect at the balance sheet date and capital accounts are translated at historical rates. Income statement accounts are translated at the average rates of exchange prevailing during the period. Translation adjustments arising from the use of differing exchange rates from period to period are included in the Accumulated Other Comprehensive Gain/(Loss) account in Stockholders’ Equity.

Transactions undertaken in currencies other than the functional currency of the entity are translated using the exchange rate in effect as of the transaction date. Any exchange gains and losses would be included in the Statement of Operations.

Patents, Patent Rights and Amortization

Patents and patent rights are recorded at cost. We provide for the amortization of patents and patent rights on the straight-line basis over their estimated economic lives, estimated to be 5 years. Amortization is recorded upon the patents being awarded.

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RISKS AND UNCERTAINTIES

Need For Financing

We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability. We are likely to continue to need substantial additional financing in order to implement our long term business plan. There is no assurance that we will be able to acquire sufficient financing on terms acceptable to us or at all. If financing is not available or obtainable, our ability to meet our financial obligations and pursue our plan of operation will be substantially limited and investors may lose a substantial portion or all of their investment

Limited Operating History, Risks Of A New Business Venture

We are still in the process of developing our business and have only recently begun to earn revenues. Readers are cautioned that our past results may not be indicative of future performance.

Potential investors should be aware of the difficulties normally encountered by a new enterprise and the high rate of failure of such enterprises. The potential for future success must be considered in light of the problems, expenses, difficulties complications and delays encountered in connection with the development of a business in the area in which we intend to operate and in connection with the formation and commencement of operations of a new business in general. These include, but are not limited to, unanticipated problems relating to research and development programs, marketing, approvals by government agencies, competition and additional costs and expenses that may exceed current estimates. There is no history upon which to base any assumption as to the likelihood that we will prove successful, and there can be no assurance that we will ever achieve profitable operations.

If We Are Unable To Achieve Market Acceptance For Our Products, We Will Be Unable To Build Our Business

To date, we have completed technical development of our EnergyMission/Yellow Box, ThermoMobil and AquaMission products. However, we have only received a limited number of confirmed orders for these products. Our future success will depend upon the acceptance of our existing products, and other products that we develop, by the respective industries in which we intend to market those products. Achieving such acceptance will require significant investments in research and development and market development. The technologies upon which our products and services are based are relatively new and are evolving. Accordingly, in order to achieve commercial acceptance, we will have to educate prospective clients about the uses and benefits of our products.

Even If We Are Able To Develop A Commercial Market For Our Products, We May Not Have The Ability To Meet The Demand For Those Products

We intend to complete the construction of the initial AquaMission, ThermoMobil and EnergyMission/Yellow Box units ordered from us at our facilities located in Herten, Germany. However, the size of these facilities is limited.

We are currently in the process of establishing a wholly owned subsidiary in the Netherlands, with which we intend to establish a larger scale production facility. Further, we intend to seek supply contracts and/or joint venture/licensing agreements with independent manufacturing companies to manufacture our products on a large scale basis, however we have not yet entered into any such contracts or agreements.

Our Operations May Be Subject to Extensive Government Regulation

Our operations may be subject to extensive government regulations in the United States, Europe and elsewhere. In order to sell our products, we may have to satisfy numerous mandatory procedures,

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regulations, and safety standards established by international, federal and state regulatory agencies. Although we currently comply with stringent German regulations, there can be no assurance that we can successfully comply with all present and future government regulations worldwide.

Risks of International Business Operations

Although we are incorporated in the United States, the majority of our operating activities are conducted in Germany. Additionally, in the past, we have targeted markets for our products in the Persian Gulf and other developing parts of the world, such as Africa. As such, a significant portion of our business depends upon our ability to establish and maintain successful relationships with businesses and governments located outside of the United States. If we are unable to establish and maintain such relationships, we may not be able to implement our business plan or plan of operations.

In order to better manage the risks associated with our international operations, our management has decided to focus their business development efforts on markets near to our base of operations, such as Germany, the Netherlands and the rest of Europe.

Rapid Technological Changes In Our Industry Could Make Our Products Obsolete

The industry in which we intend to compete is characterized by rapid technological change and intense competition. New technologies, products and industry standards will develop at a rapid pace which could make our planned products obsolete. Our future success will depend upon our ability to develop and introduce product enhancements to address the needs of our customers.

Asserting And Defending Intellectual Property Rights May Impact Results Of Operations

The success of our business may depend on our ability to successfully defend our intellectual property rights. Future litigation may have a material impact on our financial condition even if we are successful in developing and marketing products. We may not be successful in defending or asserting our intellectual property rights.

An adverse outcome in any litigation or interference proceeding could subject us to significant liabilities to third parties and require us to cease using the technology that is at issue or to license the technology from third parties. In addition, a finding that any of our intellectual property rights are invalid could allow our competitors to more easily and cost-effectively compete. Thus, an unfavorable outcome in any patent litigation or interference proceeding could have a material adverse effect on our business, financial condition or results of operations.

The cost to us of any patent litigation or interference proceeding could be substantial. Uncertainties resulting from the initiation and continuation of patent litigation or interference proceedings could have a material adverse effect on our ability to compete in the marketplace. Patent litigation and interference proceedings could also absorb significant management time.

We May Be Subject To Product Liability Lawsuits

We may be subject to product liability claims. Such claims may absorb significant management time and could degrade our reputation and the marketability of our products. If product liability claims are made with respect to our products, we may need to recall the implicated product which could have a material adverse effect on our business, financial condition and results of operations. In addition, although we may maintain product liability insurance, we cannot be sure that such insurance will be adequate to cover potential product liability lawsuits. Insurance is expensive and in the future may not be available on acceptable terms, if at all. If a successful product liability claim or series of claims exceeds insurance coverage, it could have a material adverse effect on our business, financial condition and results of operations.

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If We Are Late In Filing Any Of Our Annual Or Quarterly Reports During The Next Two Years, Our Common Stock May Become Ineligible For Quotation On The OTC Bulletin Board, Which Would Negatively Affect The Market For Our Shares And Our Ability To Obtain Additional Financing.

On November 16, 2005, the SEC approved certain changes to NASD Rule 6530. As amended, NASD Rule 6530 provides that OTC Bulletin Board (“OTCBB”) issuers who are late in filing their annual or quarterly reports three times within a 24-month period will be ineligible for quotation on the OTCBB. In order to regain eligibility under this rule, the issuer would need to timely file all of its annual and quarterly reports due in a one year period. The amended NASD Rule 6530 does not apply to annual or quarterly reports for periods ended before October 1, 2005.

From time to time, we have been late in filing our quarterly and annual reports. If we are late in filing our annual or quarterly reports three times within a 24-month period, we may become ineligible for quotation on the OTCBB, which would negatively affect the market for our common stock. In addition, if our common stock is no longer eligible for quotation on the OTCBB, it may become more difficult for us to obtain additional equity financing as shares of our common stock will be less attractive to potential investors.

ITEM 3. CONTROLS AND PROCEDURES.

Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as of the end of the period covered by this report. Based on that evaluation, our principal executive officer and principal financial officer has concluded that our disclosure controls and procedures were not effective as we failed to timely file our periodic reports with the SEC on a number of occasions during the past fiscal year.

Our new management is in the process of taking measures to improve our disclosure controls and procedures in an effort to ensure that the information required to be disclosed is internally communicated and publicly reported within the time periods specified in the SEC’s rules and forms. In particular, we intend to engage outside consultants to assist us in the preparation of our accounting records and financial statements and will attempt to increase internal accountability and to clearly define internal communication channels in an effort to remedy the deficiencies identified by our principal executive officer and principal financial officer.

By working with our external consultants and our principal independent accountants, our management believes that the financial statements and the other information presented in this Quarterly Report are materially correct.

There were no changes in our internal control over financial reporting during the last fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

None.

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

All unregistered sales of our equity securities completed during our fiscal quarter ended December 31, 2006 have been previously reported in the Quarterly Reports on Form 10-QSB and Current Reports on Form 8-K that we filed during that period.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

None.

ITEM 5. OTHER INFORMATION.

Compensatory Arrangements Of Certain Officers

Effective December 28, 2006, we entered into management consulting services agreements with each of Robert Terberg, our current Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary, and currently a member of our Board of Directors, and Hugo van der Zee, currently the Chairman of our Board of Directors. The terms of our agreements with Mr. Terberg and Mr. van der Zee are disclosed in our Annual Report filed with the SEC on January 16, 2007.

ITEM 6. EXHIBITS.

Exhibit
Number Description of Exhibit
3.1 Restated Articles of Incorporation filed with the Nevada Secretary of State effective December 27, 2004.(5)
3.2 Bylaws, effective March 2, 2000.(1)
10.1 Share Purchase Agreement between Water-Capital-Holding Ltd., V G Tech, Inc., Aqua Society GmbH and Steve Livingston, dated for reference September 3, 2004.(2)
10.2 Agreement and Deed of Tran

[BonMala]

[krofisch]

Antwort auf Beitrag Nr.: 28.074.904 von westfale64 am 02.03.07 18:46:32

Einfach zu schön der tägliche verzweifelte und vor allem kindische Hinweis auf die immer noch typische sehr kreative und merkwürdige \\\\\\\\\\\'Übersetzungskunst\\\\\\\\\\\' von \\\\\\\\\\\'Pinochio\\\\\\\\\\\',
der evtl. so manchen mit seinen kopierten Hasspostings doch sehr an ehemalige wegen Unfähigkeit entlassene Hamm-Mitarbeiter erinnert?

Macht nichts!

Das ORIGINAL steht ja hier:

http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

SEC EDGAR Filing Information
Form 10QSB -- Optional form for quarterly and transition reports of small business issuers
Period of Report: 2006-12-31
Filing Date Changed: 2007-02-20
Documents: 4
SEC Accession No.
0001062993-07-000600
Filing date: 2007-02-20
Accepted: 2007-02-20 17:20:44

Table of submitted documents:
Seq Type Document Size Description
1 10QSB form10qsb.htm 232789 QUARTERLY REPORT FOR THE PERIOD ENDED DECEMBER 31, 2006
2 EX-10.16 exhibit10-16.htm 38485 TECHNICAL CONSULTING AGREEMENT
3 EX-31.1 exhibit31-1.htm 6282 CEO AND CFO CERTIFICATION
4 EX-32.1 exhibit32-1.htm 3971 CEO AND CFO CERTIFICATION

0001062993-07-000600.txt 283076 Complete submission text file

Filer Information:
AQUA SOCIETY, INC. (Filer) (0001213111)
IRS No.: 522357931 | State of Incorp.: NV | Fiscal Year End: 0930
Type: 10QSB | Act: 34 | File No.: 000-50163 | Film No.: 07636462
SIC: 3590 Misc Industrial & Commercial Machinery & Equipment
Business Address
KONRAD-ADENAUER STRASSE 9-13
45699
HERTEN 2M 0000
011-49-6031-791-760
Mailing Address
KONRAD-ADENAUER STRASSE 9-13
45699
HERTEN 2M 0000

[Keatanu]

Antwort auf Beitrag Nr.: 28.072.402 von krofisch am 02.03.07 17:12:26

Lieber armer krofisch,

er hat ja wenigstens noch eine kleine Welt. Du hast ja noch nicht einmal das Hirn dazu Dir eine kleine Welt vorzustellen.

[westfale64]

#5006:
Da Aquas Pusher diese Aktionärsabzocke, die im Quartalsbericht nachzulesen ist (#5006), nicht erklären kann, bleibt ihm nichts anderes übrig als die peinlichen Millionenprovisionen für seine Chefs (die ...amms) zuzuspamen -auf das die Dummen weiter die Schrottaktien kaufen, die die ...amms abladen.
Wieviele der heute gehandelten 32000 Aktien konnte diese Bande heute abladen ?
Und wieviele der insgesammt ca 80 Mio. gehandelten Aktien ?







7 Jahre Knast für die Initiatoren und ihren bestellten Pusher, der sich mit seinen unzähligen Lügen der Beihilfe schuldig gemacht hat ?

[krofisch]

Antwort auf Beitrag Nr.: 28.128.347 von westfale64 am 05.03.07 16:37:24

Einfach zu schön der tägliche verzweifelte und vor allem kindische Hinweis auf die immer noch typische sehr kreative und merkwürdige 'Übersetzungskunst' von 'Pinochio',
der evtl. so manchen mit seinen kopierten Hasspostings doch sehr an ehemalige wegen Unfähigkeit entlassene Hamm-Mitarbeiter erinnert?

Macht nichts!

Das ORIGINAL steht ja z. B. in #5008!

[krofisch]

Antwort auf Beitrag Nr.: 28.128.347 von westfale64 am 05.03.07 16:37:24

Brille: Fielmann!

westfale64-'Wahrheit':
Wieviele der heute gehandelten 32000 Aktien ...

Die echte Wahrheit:
15:57:05 0,24 60.000 134.540 Stück!

Das kommt eben vom vielen 'blinden' Kopieren!

[krofisch]

Antwort auf Beitrag Nr.: 28.128.347 von westfale64 am 05.03.07 16:37:24

Wenigstens sind die vielen Leerzeilen nicht gelogen!

[westfale64]

Aquas Pusher kann die Abzocke der Aqua-Bande in #5006 wieder mal nicht erklären.
Und Aqua selbst schweigt sowieso seit Jahren zu allen kritischen Fragen.
Was sollen sie auch sagen ?

"Wir wissen dass unserere "Produkte" seit Jahren keiner kauft, wollen aber unsere Millionen Altaktien bei den Dummen abladen, die den Quartalsbericht nicht lesen können und unseren Homepagelügen und Auftragsmärchen glauben - und die Millionenprovisionen, die wir uns selbst zuschieben nehmen wir vor der Insolvenz unserer 8-Mann-Bude auch gerne mit ?"

Das wäre zwar ehrlich würde aber den Aktienverkauf behindern.
Da ist es für die Gebrüder Grimm (die ...amms) doch leichter ihren Forenpusher loszuschicken um die Kritiker mundtot zu machen.

[krofisch]

Antwort auf Beitrag Nr.: 28.130.449 von westfale64 am 05.03.07 18:06:05

Einfach zu schön der tägliche verzweifelte und vor allem kindische Hinweis auf die immer noch typische sehr kreative und merkwürdige \'Übersetzungskunst\' von \'Pinochio\',
der evtl. so manchen mit seinen kopierten Hasspostings doch sehr an ehemalige wegen Unfähigkeit entlassene Hamm-Mitarbeiter erinnert?

Macht nichts!

Das ORIGINAL steht ja z. B. in #5008!

[krofisch]

Antwort auf Beitrag Nr.: 28.130.449 von westfale64 am 05.03.07 18:06:05

Nach der westfale64-'Wahrheit' nun wieder Fakten!

Bericht Kommunalwirtschaft Ausgabe Januar 2007

Quelle:
http://www.aqua-society.com/DOWNLOADS/Presseartikel/Kommunal…

[westfale64]

!

Dieser Beitrag wurde vom System automatisch gesperrt. Bei Fragen wenden Sie sich bitte an [e-mail]

[krofisch]

Antwort auf Beitrag Nr.: 28.131.933 von westfale64 am 05.03.07 19:20:04

Einfach zu schön der tägliche verzweifelte und vor allem kindische Hinweis auf die immer noch typische sehr kreative und merkwürdige \\\\\\\\\\\\'Übersetzungskunst\\\\\\\\\\\\' von \\\\\\\\\\\\'Pinochio\\\\\\\\\\\\',
der evtl. so manchen mit seinen kopierten Hasspostings doch sehr an ehemalige wegen Unfähigkeit entlassene Hamm-Mitarbeiter erinnert?

Macht nichts!

Das ORIGINAL steht ja hier:

http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

SEC EDGAR Filing Information
Form 10QSB -- Optional form for quarterly and transition reports of small business issuers
Period of Report: 2006-12-31
Filing Date Changed: 2007-02-20
Documents: 4
SEC Accession No.
0001062993-07-000600
Filing date: 2007-02-20
Accepted: 2007-02-20 17:20:44

Table of submitted documents:
Seq Type Document Size Description
1 10QSB form10qsb.htm 232789 QUARTERLY REPORT FOR THE PERIOD ENDED DECEMBER 31, 2006
2 EX-10.16 exhibit10-16.htm 38485 TECHNICAL CONSULTING AGREEMENT
3 EX-31.1 exhibit31-1.htm 6282 CEO AND CFO CERTIFICATION
4 EX-32.1 exhibit32-1.htm 3971 CEO AND CFO CERTIFICATION

0001062993-07-000600.txt 283076 Complete submission text file

Filer Information:
AQUA SOCIETY, INC. (Filer) (0001213111)
IRS No.: 522357931 | State of Incorp.: NV | Fiscal Year End: 0930
Type: 10QSB | Act: 34 | File No.: 000-50163 | Film No.: 07636462
SIC: 3590 Misc Industrial & Commercial Machinery & Equipment
Business Address
KONRAD-ADENAUER STRASSE 9-13
45699
HERTEN 2M 0000
011-49-6031-791-760
Mailing Address
KONRAD-ADENAUER STRASSE 9-13
45699
HERTEN 2M 0000

[krofisch]

Antwort auf Beitrag Nr.: 28.131.933 von westfale64 am 05.03.07 19:20:04

Nach der westfale64-\'Wahrheit\' nun wieder Fakten!

Bericht Kommunalwirtschaft Ausgabe Januar 2007

Quelle:

http://www.aqua-society.com/DOWNLOADS/Presseartikel/Kommunal…

[krofisch]

Antwort auf Beitrag Nr.: 28.131.977 von krofisch am 05.03.07 19:22:44

Nach der westfale64-\\'Wahrheit\\' nun wieder das Original

http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

[Leichtmatrose]

Erfindergeist: Manche Geschäftsidee
erinnert an die Tüfteleien des
Comichelden Daniel Düsentrieb


Im manager-magazin ist ein Artikel über aqua erschienen.

Jetzt wird der Fisch gleich aufschreien:

„Einfach zu schön der verzweifelte und vor allem kindische Hinweis auf die immer noch typische sehr kreative und merkwürdige 'Übersetzungskunst' von 'Pinochio', der evtl. so manchen mit seinen kopierten Hassartikeln doch sehr an ehemalige wegen Unfähigkeit entlassene Hamm-Mitarbeiter erinnert?" (Sehr frei zitiert nach krofischs Hasspostings)

Steckt da eventuell der ehemalige Hauptstadt-Repräsentant dahinter?


Nachzulesen bei

http://www.manager-magazin.de/geld/geldanlage/0,2828,469388,…

oder im Zahlen-Diskussions-Thread Beitrag Nr.: 28.137.742

[westfale64]

Antwort auf Beitrag Nr.: 28.130.937 von krofisch am 05.03.07 18:25:15

Aquas Pusher kann die Abzocke der Aqua-Bande in #5006 wieder mal nicht erklären.

[krofisch]

Antwort auf Beitrag Nr.: 28.146.220 von westfale64 am 06.03.07 14:50:45

Einfach zu schön der tägliche verzweifelte und vor allem kindische Hinweis auf die immer noch typische sehr kreative und merkwürdige \\\\\\\\\\\\\'Übersetzungskunst\\\\\\\\\\\\\' von \\\\\\\\\\\\\'Pinochio\\\\\\\\\\\\\',
der evtl. so manchen mit seinen kopierten Hasspostings doch sehr an ehemalige wegen Unfähigkeit entlassene Hamm-Mitarbeiter erinnert?

Macht nichts!

Das ORIGINAL steht ja hier:

http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

10QSB 1 form10qsb.htm QUARTERLY REPORT FOR THE PERIOD ENDED DECEMBER 31, 2006
--------------------------------------------------------------------------------

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-QSB

(Mark One)

[ X ] Quarterly Report Under Section 13 Or 15(d) Of The Securities Exchange Act Of 1934
For the quarterly period ended December 31, 2006

[ ] Transition Report Under Section 13 Or 15(d) Of The Securities Exchange Act
For the transition period from ________to ________

COMMISSION FILE NUMBER 000-50163

AQUA SOCIETY, INC.
(Exact name of small business issuer as specified in its charter)

NEVADA 52-2357931
(State or other jurisdiction of incorporation or (IRS Employer Identification No.)
organization)

Konrad - Adenauer Strasse 9-13
45699 Herten, Germany
(Address of principal executive offices)

011-49-6031-791-760
Issuer's telephone number

Not Applicable
Former name, former address and former fiscal year, if changed since last report

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 [ X ] No [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: As of February 20, 2007 the Issuer had 118,178,323 Shares of Common Stock outstanding.

Transitional Small Business Disclosure Format (check one): Yes [ ] No [X]

1


--------------------------------------------------------------------------------

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

2


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.

INTERIM CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2006

(Stated in US Dollars)

(Unaudited)


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED BALANCE SHEETS
December 31, 2006 and September 30, 2006
(Stated in US Dollars)
(Unaudited)

December 31, September 30,
ASSETS 2006 2006

Current
Cash $ 108,837 $ 187,432
Accounts receivable – trade 76,838 143,039
– other – Note 4 59,367 -
Government value added tax receivable 97,631 217,919
Inventory 332,389 306,569
Loans receivable 1 1

675,063 854,960
Investments – Note 3 2 2
Patents and patent rights 193,485 193,485
Equipment 53,811 65,343

$ 922,361 $ 1,113,790

LIABILITIES

Current
Accounts payable and accrued liabilities – Note 4 $ 527,018 $ 537,271
Loans payable – Notes 4 and 5 3,165,735 2,377,099

3,692,753 2,914,370

STOCKHOLDERS’ DEFICIENCY

Common stock, $0.001 par value – Notes 6 and 8
300,000,000 shares authorized
118,178,323 shares issued and outstanding (September 30, 2006:
118,178,323 shares) 118,179 118,179
Additional paid-in capital 28,690,854 28,609,612
Accumulated other comprehensive loss (246,705 ) (150,368 )
Accumulated deficit (31,332,720 ) (30,378,003 )

(2,770,392 ) (1,800,580 )

$ 922,361 $ 1,113,790

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Sales $ 25,441 $ 782,242
Less: cost of goods sold 580 593,010

24,861 189,232

General and administrative expenses:
Accounting and audit fees 73,443 57,121
Advertising and promotion 19,329 58,187
Amortization 5,899 6,584
Bad debts 28,431 43,685
Bank charges and interest 117 85
Consulting fees 36,634 177,085
Development costs – Note 4 268,919 412,455
Filing fees 867 121
Interest 57,256 57,088
Legal fees – Note 4 130,228 36,264
Management fees – Note 4 57,988 124,857
Office and miscellaneous 23,270 66,274
Rent 26,154 28,917
Salaries and benefits 154,052 96,888
Stock-based compensation 57,242 -
Transfer agent 225 815
Travel – Note 4 39,524 80,478
Write down of patents - 8,994
Write down of inventory - 63,928

(979,578 ) (1,319,826 )

Operating loss before other item (954,717 ) (1,130,594 )

Other item:
Interest income - 5,292

Net loss for the period (954,717 ) (1,125,302 )

Other comprehensive loss
Foreign currency adjustment (96,337 ) (2,551 )

Comprehensive loss for the period $ (1,051,054 ) $ (1,127,853 )

Basic loss per share $ (0.01 ) $ (0.01 )

Weighted average number of shares outstanding 118,178,323 115,771,988

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Cash flows used in Operating Activities
Net loss for the period $ (954,717 ) $ (1,125,302 )
Items not affecting cash:
Amortization 5,899 6,584
Stock-based compensation 57,242
Write-down of patents - 8,994
Write-down of inventory - 63,928
Interest imputed on loans payable 24,000 -
Changes in non-cash working capital items:
Accounts receivable 10,882 (126,415 )
Government value added tax receivable 126,004 12,329
Inventory (13,251 ) 9,748
Accounts payable and accrued liabilities (23,954 ) 526,835

(767,895 ) (623,299 )

Cash flows used in Investing Activities
Equipment disposal 5,634 48,178
Repayment of loans receivable - (68,388 )

5,634 (20,210 )

Cash flows from Financing Activity
Increase in loans payable 677,508 174,408

Effect of exchange rates on cash 6,158 (7,730 )

Decrease in cash during the period (78,595 ) (476,831 )

Cash, beginning of the period 187,432 658,949

Cash, end of the period $ 108,837 $ 182,118

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Capital stock issued for cash 1 $ 31,042 $ - - $ - $ - $ - $ 31,042
Contribution of assets - - 25,056 - - - - 25,056
Pursuant to the acquisition of Aqua
Society GmbH 10,000,000 10,000 - 34,000,000 34,000 - - 44,000
Exchange of shares (1 ) (31,042 ) - - - - - (31,042 )
Outstanding shares of Company
prior to acquisition 69,908,000 69,908 - - - - (194,748 ) (124,840 )
Unrealized loss on translation - - - - - (997 ) - (997 )
Net loss for the period - - - - - - (67,448 ) (67,448 )

Balance, September 30, 2004 79,908,000 79,908 25,056 34,000,000 34,000 (997 ) (262,196 ) (124,229 )

Issued for cash:
Pursuant to private placement - at $2.40 416,666 417 999,583 - - - - 1,000,000
- at $1.98 1,232,322 1,233 2,438,766 - - - - 2,439,999
Pursuant to exercise of options - at $1.70 215,000 215 365,285 - - - - 365,500
Conversion of special warrants 34,000,000 34,000 - (34,000,000 ) (34,000 ) - - -
Stock-based compensation - - 22,480,000 - - - - 22,480,000
Unrealized gain on translation - - - - - 89,594 - 89,594
Net loss for the year - - - - - - (25,787,558 ) (25,787,558 )

Balance, September 30, 2005 115,771,988 115,773 26,308,690 - - 88,597 (26,049,754 ) 463,306

Pursuant to private placement - at $1.04 1,160,960 1,161 1,206,237 - - - - 1,207,398
- at $0.88 1,245,375 1,245 1,094,685 - - - - 1,095,930
Unrealized loss on translation - - - - - (238,965 ) - (238,965 )
Net loss for the period - - - - - - (4,328,249 ) (4,328,249 )

Balance, September 30, 2006 118,178,323 118,179 28,609,612 - - (150,368 ) (30,378,003 ) (1,800,580 )

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

Continued

AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Stock-based compensation - - 57,242 - - - - 57,242
Unrealized loss on translation - - - - (96,337 ) - (96,337 )
Contribution of interest – Note 5 - - 24,000 - - - - 24,000
Net loss for the period - - - - - - (954,717 ) (954,717 )

Balance, December 31, 2006 118,178,323 $ 118,179 $ 28,690,854 - $ $ (246,705 ) $ (31,332,720 ) $ (2,770,392 )

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2006
(Stated in US Dollars)
(Unaudited)

Note 1 Interim Reporting

While information presented in the accompanying interim consolidated financial statements is unaudited, it includes all adjustments, which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented. All adjustments are of a normal recurring nature. The accompanying interim consolidated financial statements do not include all information and footnote disclosures required for an annual set of financial statements prepared under generally accepted accounting principles in the United States of America. The accompanying interim consolidated financial statements should be read in conjunction with the Company’s September 30, 2006 audited consolidated financial statements. Operating results from the period ended December 31, 2006 are not necessarily indicative of the results that can be expected for the year ending September 30, 2007.


Note 2 Nature and Continuance of Operations

These interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for the next twelve months. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. At December 31, 2006, the Company had not yet achieved profitable operations, has accumulated losses of $31,332,720 since its inception, has a working capital deficiency of $3,017,690 and expects to incur further losses in the development of its business, all of which casts substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations 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 considers that the Company will be able to obtain additional funds by equity financing and/or related party advances; however there is no assurance of additional funding being available.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 2
(Unaudited)

Note 3 Investments

i) UFI Tec GmbH

By an agreement dated November 30, 2004 and effective December 10, 2004, the Company acquired a 33% interest in UFI-Tech GmbH (“UFI”), a German limited company, for consideration of EUR 25,565 (US $32,476). During the year ended September 30, 2005, the Company wrote down the $32,476 investment and related loans receivable of $67,227 to their net realizable value of $1. During the year ended September 30, 2006, the Company sold 13.1% of their 33% interest (19.9% interest remains) for proceeds of EUR 10,072 (US $12,237) and wrote down an additional loan receivable of $66,094 to its net realizable value of $1.

ii) By an agreement dated February 18, 2006, the Company acquired a 51% interest in TMR GmbH (“TMR”), a German limited company, in consideration of EUR 12,750 (US $15,999). TMR is involved in the development, installation, distribution and management of renewable resources. At the date of acquisition, TMR had no business, assets or liabilities. During the year ended September 30, 2006, the Company wrote down its investment by $15,674 (EUR 12,749) to $1. During the three months ended December 31, 2006, the Company disposed of its interest in TMR for $1.

Note 4 Related Party Transactions – Note 7

The Company incurred the following amounts charged by directors of the Company, the brother of a director of the Company and a law firm of which a former director of the Company is a partner:

Three months ended
December 31,
2006 2005

Development costs $ 88,013 $ 191,595
Legal fees - 26,073
Management fees 57,988 124,857
Travel - 1,780

$ 146,001 $ 344,305

Accounts receivable – other includes $59,367 related to an advance to a former officer of the Company.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 3
(Unaudited)

Note 4 Related Party Transactions – Note 7 – (cont’d)

Included in accounts payable and accrued liabilities is $77,498 (September 30, 2006: $79,358) due to directors of the Company and a former director of the Company. These amounts are unsecured, non-interest bearing and have no specific terms for repayment.

Included in loans payable is $1,527,238 (September 30, 2006: $1,441,507) due to a law firm of which a former director of the Company is a partner.

Note 5 Loans Payable

Of the total loans outstanding at December 31, 2006, $950,886 (September 30, 2006: $883,822) bear interest at 7.5% per annum, are secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $773,403 (September 30, 2006: $743,675) are non-interest bearing, secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $1,319,261 (September 30, 2006: $634,276) are non-interest bearing, unsecured and due on demand, and $122,185 (September 30, 2006: $115,326) of loans payable bear interest of 7.5% per annum, are unsecured and are repayable on or before December 31, 2006. The loans due on or before December 31, 2006 were not repaid and are consequently in default. The company has imputed interest on the non-interest bearing loans at 10% per annum for a total of $24,000 during the three months ended December 31, 2006.

Note 6 Capital Stock – Note 8

Commitments:

Share Purchase Options

On December 21, 2006, the Company adopted a second stock incentive plan (the “2006 Stock Option Plan”) to provide incentives to employees, directors, officers and permitted consultants. The 2006 Stock Plan provides for the issuance of up to 7,000,000 options with a term to be determined by the plan administer or, if not so established, ten years. The maximum aggregate number of shares that may be optioned under the 2006 Stock Option Plan will be increased effective the first day of each of the Company’s fiscal quarters (“adjustment date”), beginning with the fiscal quarter commencing April 1, 2007 by an amount equal to the lesser of i) 15% of the outstanding shares on the first day of the applicable quarter less a) the number of shares of common stock that may be optioned and sold under the plan prior to the adjustment date and b) the number of shares of common stock that may be optioned and sold under any other stock option plan in effect as of the adjustment date or ii) such lesser number of shares of common stock as may be determined by the Board.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 4
(Unaudited)

Note 6 Capital Stock – Note 8 – (cont’d)

Commitments: – (cont’d)

Share Purchase Options – (cont’d)

A summary of the stock options outstanding as at December 31, 2006 and changes during the period is presented below:

Weighted
Average
Exercise
Shares Price

Options outstanding at September 30, 2006 7,535,000 $ 1.70
Granted 4,500,000 $ 0.40

Options outstanding at December 31, 2006 12,035,000 $ 1.21

Options exercisable at December 31, 2006 7,535,000

A summary of stock options outstanding at December 31, 2006, is as follows:

Exercise
Number Price Expiry Date

562,500 $0.40 April 1, 2009
562,500 $0.40 July 1, 2009
562,500 0.40 October 1, 2009
7,535,000 $1.70 October 15, 2009
562,500 $0.40 January 1, 2010
562,500 $0.40 April 1, 2010
562,500 $0.40 July 1, 2010
562,500 $0.40 October 1, 2010
562,500 $0.40 January 1, 2011

12,035,000

The Company used the Black-Scholes option pricing model to compute estimated fair value at each of the grant dates.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 5
(Unaudited)

Note 6 Capital Stock – Note 8– (cont’d)

Commitments – (cont’d)

Share Purchase Options – (cont’d)

The Black-Scholes option-pricing model requires the input of highly subjective assumptions including the expected price volatility. Changes in the subjective input assumptions can materially affect the fair value estimate and therefore the Black-Scholes model does not necessarily provide a reliable single measure of the fair value of the Company’s share purchase options.

The Company used the Black-Scholes option pricing model to compute the estimated fair value of the options granted during the three months ended December 31, 2006, based on the following assumptions:

Risk-free interest rate 4.84%
Dividend yield rate 0.00%
Price volatility 159.23%
Weighted average expected life of options 2.03 years
Weighted average fair value $0.36

The Company recognized stock-based compensation of $57,242 during the three months ended December 31, 2006.

Share Purchase Warrants

As at December 31, 2006, a total of 2,406,335 share purchase warrants exercisable into 2,406,335 common shares were outstanding as follows:

Exercise
Number Price Expiry Date

1,169,960 $1.30 February 9, 2008
1,245,375 $1.10 June 15, 2008

2,406,335


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 6
(Unaudited)

Note 7 Commitments

i) Lease Contracts

By four lease agreements dated September 30, 2004 and effective October 1, 2004, the Company entered into four lease contracts for the Company’s corporate head office. The leases require total payments of EUR 6,690 (US$8,826) per month. Two of the leases are effective until May 31, 2007 and the other two are effective until December 31, 2007. The leases will be automatically extended every year unless cancelled with six months advance notice.

Minimum future lease payments

September 30, 2007 $ 80,960
2008 12,144

$ 93,104

ii) Management/Consulting Contracts


a) By a management consulting contract dated September 30, 2004 and effective October 1, 2004, the Company’s subsididary (“GmbH”) agreed to pay EUR15,000 (US $19,789) per month to a managing director of GmbH for development, production and quality assurance services. The managing director of the GmbH is also a director of the Company. This contract is for an unlimited term but may be terminated by either party with six months advance notice.


b) By a consulting agreement dated October 1, 2004, the Company agreed to pay $2,000 per month to a consultant of the Company. The agreement is effective for a term of 5 years. The Company granted 500,000 common stock options upon signing of the agreement. The exercise price of the stock options is $1.70 per share and expires on October 15, 2009.


c) By a management consulting contract dated and effective October 1, 2004, the Company agreed to pay EUR 5,000 (US$6,274) per month for marketing and business development services. Effective October 1, 2005, the contract was amended to increase the payment to EUR 7,500 (US $9,411) per month. Effective October 1, 2006, the contract was amended to EUR 15,000 (US$19,028) per month for October, November and December, 2006. By an agreement dated November 1, 2006 and effective January 11, 2007, the Company agreed to the payment of EUR 2,000 (US $2,638) per month until December 31, 2007 and a 5% commission of gross sales to third parties which occurred as a result of the consultant’s work. The contract automatically renews for one year if not terminated at the end of a year by giving six months advance notice.



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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 7
(Unaudited)

Note 7 Commitments – (cont’d)

ii) Management/Consulting Contracts – (cont’d)

d) By a management consulting contract dated and effective January 1, 2005, the GmbH agreed to pay EUR 5,520 (US $7,002) per month for marketing, sales and distribution services. By an agreement dated November 10, 2006 and effective January 1, 2007, the contract was amended to decrease the payment to EUR 3,750 (US $4,947) per month with additional payments of EUR 10,000 (US $12,686) and EUR 5,000 (US$6,343) in November and December 2006 respectively. The contract ends on December 31, 2007 and may be terminated by either party with three months advance notice.

e) By a management consulting agreement dated August 1, 2005, the GmbH agreed to pay EUR 3,900 (US $5,145) per month for administration services for the research and development department. The contract is for an unlimited term and may be terminated by either party by giving six months advance notice.

f) By a management consulting contract dated December 12, 2005 and effective January 1, 2006, the GmbH agreed to pay EUR 20,000 (US $25,371) per month to March 31, 2006 and EUR 25,000 (US $31,714) per month to December 31, 2006 for technical services. Effective September 18, 2006, the contract was amended and the payment was decreased to EUR 10,000 (US$ 12,686) per month and extended to June 30, 2007. The management consulting contract is with a company owned by a director of the Company.

g) By a management consulting contract dated November 10, 2004, the Company agreed to pay EUR 500 (US $660) per press release to a former director of the Company. This contract is for an unlimited term but may be terminated by either party with one month advance notice.

h) By management consulting agreements dated December 28, 2006, the Company agreed to pay directors of the Company a total of EUR 56,000 (US $73,879) for the period October 1, 2006 to December 31, 2006 and EUR 14,000 (US $18,470) per month for the period January 1, 2007 to September 30, 2007. The contract is for an unlimited term but may be terminated by either party with three months advance notice.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 8
(Unaudited)

Note 8 Subsequent Event

Subsequent to December 31, 2007, the Company approved a private placement offering of 7,500,000 units at $0.30 per unit with each unit consisting of one share of the Company’s common stock and one-half share purchase warrant for total proceeds of $2,250,000. Each share purchase warrant entitles the holder to purchase one additional share of the Company’s common stock at $0.35 per share for a period of one year from the date of issuance of the units.


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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this Quarterly Report constitute "forward-looking statements". These statements, identified by words such as “plan”, "anticipate," "believe," "estimate," "should," "expect" and similar expressions include our expectations and objectives regarding our future financial position, operating results and business strategy. These statements reflect the current views of management with respect to future events and are subject to risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from those described in the forward-looking statements. Such risks and uncertainties include those set forth under the caption "Management's Discussion and Analysis or Plan of Operation" and elsewhere in this Quarterly Report. We do not intend to update the forward-looking information to reflect actual results or changes in the factors affecting such forward-looking information. We advise you to carefully review the reports and documents we file from time to time with the United States Securities and Exchange Commission (the “SEC”), particularly our Annual Reports on Form 10-KSB and our Current Reports on Form 8-K.

As used in this Quarterly Report, the terms "we", "us", "our", “the Company” and “Aqua Society” mean Aqua Society, Inc. unless otherwise indicated. All dollar amounts in this Quarterly Report are in U.S. dollars unless otherwise stated.

INTRODUCTION

The following discussion and analysis summarizes our plan of operation for the next twelve months, our results of operations for the three month period ended December 31, 2006 and changes in our financial condition from September 30, 2006. This discussion should be read in conjunction with the Management’s Discussion and Analysis or Plan of Operation included in our Annual Report on Form 10-KSB for the year ended September 30, 2006.

We were incorporated under the laws of the State of Nevada on March 2, 2000, under the name “V G Tech, Inc.”

On September 22, 2004, we completed the acquisition of Aqua Society GmbH (“Aqua GmbH”). Prior to our acquisition of Aqua GmbH, we were in the business of providing services in the areas of digital graphics and special effects. Upon completing the acquisition of Aqua GmbH, we abandoned this digital imaging business. We are now in the business of designing and developing applied technologies, and providing consulting services, in the areas of heating, ventilation, air conditioning, refrigeration, water purification, waste water treatment, and, our latest business segment, energy (collectively, the “Aqua Business”).

Effective December 27, 2004, we changed our name to “Aqua Society, Inc.” to better reflect the nature of our current business operations

Recent Corporate Developments

The following significant corporate developments have occurred since our fiscal year ended September 30, 2006:

1. After the completion of our 2006 fiscal year, we completed the construction of a demonstration prototype of our EnergyMission / Yellow Box technology. A media event to showcase this demonstration model was held at our facilities on December 21, 2006. This demonstration unit will be used by us for marketing and demonstration purposes as well as for research and development.


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2. On December 21, 2006, our Board of Directors approved and adopted our 2006 Stock Option Plan (the “2006 Option Plan”). Under the 2006 Option Plan, options may be granted for a maximum of 7,000,000 shares of our common stock. The maximum number of shares that may be optioned under the 2006 Option Plan will increase each fiscal quarter, beginning with the fiscal quarter commencing April 1, 2007, by an amount equal to 15% of the total increase in the number of shares of common stock outstanding or such lesser amount as may be determined by our Board of Directors.


A summary of our 2006 Option Plan is set forth in our Current Report on Form 8-K filed with the SEC on December 29, 2006. The full text of the 2006 Option Plan is attached as Exhibit 10.1 to our Current Report on Form 8-K filed with the SEC on December 29, 2006, and is incorporated by reference herein.


3. Also on December 21, 2006, our Board of Directors approved the grant of options under the 2006 Option Plan for 2,500,000 shares of our common stock at an exercise price of $0.40 per share to Mr. Terberg and options to purchase an aggregate of 2,000,000 shares of our commons stock to Mr. van der Zee, also at a price of $0.40. The options granted to each of Mr. Terberg and Mr. van der Zee vest in equal quarterly instalments, commencing on April 1, 2007 and expiring 2 years after the applicable vesting date.


Changes to the Board of Directors and Executive Officers

In addition to the above corporate developments, there have been a number of changes to our Board of Directors and executive officers since the end of our 2006 fiscal year.

Effective October 31, 2006, Robert Terberg replaced Petrus Lodestijn as our Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary and also as a member of our Board of Directors. Also effective on October 31, 2006, our Board of Directors was expanded by the appointment of Hubert Hamm as a director of the Company and by the appointment of Hugo van der Zee as the Chairman of the Company’s Board of Directors.

PLAN OF OPERATION

During the next twelve months, we will focus: (1) on the design and construction of products ordered from us; (2) on further developing the market for our products; and (3) on continuing to develop and improve our products. Specifically, our plan of operation for the next twelve months involves the following:

1. Design and Construction of Ordered Units: During the next twelve months, we will work on the design and construction of the waste heat power generation, AquaMission and ThermoMobil units for which we have received orders.


2. Market Development Activities: Over the next twelve months we intend to do the following in an effort to continue developing a market for our products and services:


(a) We have completed the construction of a prototype EnergyMission / Yellow Box unit that we will use for marketing and demonstration purposes, as well as for ongoing research and development. The prototype unit will be used by us to demonstrate the effectiveness of our technology to trade media and industry representatives on an ongoing basis.


(b) We are also in the process of setting up a wholly owned subsidiary in the Netherlands (the “Dutch Subsidiary”), through which we will seek to promote all of our products in the “Benelux” countries (Belgium, the Netherlands and Luxemberg). In addition, we intend to use the Dutch Subsidiary to establish an additional production facility to be located in


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the Netherlands. This production facility is expected to enable us to significantly expand our production capabilities from the limited facilities located in Herten, Germany. The Dutch Subsidiary is expected to be based in Zevenaar, near Arnhem, in the east of the Netherlands.


(c) We will continue to attempt to market the AquaMission combined air-conditioning and drinking water product in geographic locations with high ambient temperatures and relative humidity but without readily available sources of fresh water, such as the Persian Gulf and the Middle East. Three demonstration models of the AquaMission are currently on location in the Middle East. We are currently in the process of seeking new sales agents for our products in the Middle East.


We will continue to try and generate sales in the Middle East using these demonstration models.


In addition to these activities, we may also seek to increase brand awareness through various advertising activities and sponsorships.

3. Product Development Activities: During the next twelve months, we will also continue to work on further developing and improving our existing products in an effort to increase their marketability. As part of these efforts, we have developed and built a demonstration model of our Yellow Box technology.


We are also in the process of constructing a high-tech “climate room” that will allow us to simulate the world’s various humidity and temperature zones. This “climate room” will assist us in optimizing our AquaMission unit for different geographic locations.


We anticipate spending approximately $2,000,000 in pursuing our plan of operation over the next twelve months. As of December 31, 2006, the date of our most recently available financial statements, we had a working capital deficit of $3,017,690. As such, we do not have sufficient working capital to meet our expected needs over the next twelve months. Although we have recently begun to earn revenues, we have not yet earned a net profit and we do not expect to achieve profitability in the near future as we expect to continue to incur substantial product development, marketing and operating expenses. We are likely to continue to need substantial additional financing in order to implement our plan of operation. Our management expects that any additional financing that we obtain will likely be in the form of equity financing.

Our actual expenditures and business plan may differ from the one stated above. Our Board of Directors may decide not to pursue this plan. In addition, we may modify the plan based on available financing.

RESULTS OF OPERATIONS

First Quarter Summary

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Revenue $25,441 $782,242 (96.7)%
Cost of Goods Sold (580) (593,010) (99.9)%
General and Administrative Expenses (979,578) (1,319,826) (25.8)%
Other Items Nil (5,292) (100.0)%
Net Loss $(954,717) $(1,125,302) (15.2)%

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Revenues

During our last fiscal year, we earned revenues from HVAC&R and energy optimization consulting services, and from equipment sales made in connection with the provision of those services. However, we do not have a long-term history of earning revenues and, as a result, we are unable to accurately forecast future revenues. Readers are cautioned that our past operating results may not be indicative of future performance.

During the fiscal year ended December 31, 2006, our revenue decreased by 96.7% as compared to the same period ended in 2005. Since their appointment in October, 2006, our new executive officers and directors have been conducting a company wide review of our operations. During this period, we scaled back our HVAC&R and energy optimizing consulting activities. As a result, our revenues decreased substantially.

During the next twelve months, we intend to concentrate our resources on developing the market for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, as we believe that these products will provide us with the greatest opportunity for future profitability. As a result, we may continue to scale back the HVAC&R and energy optimization consulting services that we have provided in the past.

Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products, and there are no assurances that we will be able earn such revenues in the future.

Operating Costs and Expenses

Our operating expenses for the quarterly period ended December 31, 2006 consisted of the following:

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Accounting and audit fees $73,443 $57,121 28.6%
Advertising and promotion 19,329 58,187 (66.8)%
Amortization 5,899 6,584 (10.4)%
Bad debts 28,431 43,685 (34.9)%
Bank charges and interest 117 85 37.6%
Consulting fees 36,634 177,085 (79.3)%
Development costs 268,919 412,455 (34.8)%
Filing fees 867 121 616.5%
Interest 57,256 57,088 0.3%
Legal fees 130,228 36,264 259.1%
Management fees 57,988 124,857 (53.6)%
Office and miscellaneous 23,270 66,274 (64.9)%
Rent 26,154 28,917 (9.6)%
Salaries and benefits 154,052 96,888 (59.0)%
Stock-based compensation 57,242 Nil 100.0%
Transfer agent 225 815 (72.4)%

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Travel 39,524 80,478 (50.9)%
Write down of patents Nil 8,994 (100.0)%
Write down of inventory Nil 63,928 (100.0)%
Total General and Administrative Expenses $979,578 $1,319,826 (25.8)%

Our general and administrative expenses decreased by $340,248, or 25.8%, during the three month period ended December 31, 2006 as compared to 2005. This decrease in our general and administrative expenses was primarily generated as a result of the efforts of our current management to streamline our operations. During the next few months, we expect that our general and administrative expenses will continue to fluctuate somewhat as we continue to review and overhaul our current operations.

Management fees decreased by $66,869, or 53.6%, during the quarter ended December 31, 2006, primarily because of the termination of a management services contract under which we had been obligated to pay management fees of EUR 20,000 per month to a law firm of which a former officer and director is a partner. Also, during the last fiscal quarter, we scaled back some of our product development activities as our management conducted a company wide assessment of our operations. As a result, development costs, and consulting fees associated with our development activities, also decreased significantly during our last fiscal quarter. Office and travel expenses also decreased primarily as a result of our efforts to streamline our operations. Also contributing to the overall decrease in our general and administrative expenses from the quarter ended December 31, 2005 was the fact that, during our December 31, 2005 fiscal quarter, we recognized one-time patent and inventory write down charges totaling $72,922. No patent or inventory write down charges were recognized for the period ended December 31, 2006.

Offsetting the above decreases were significant increases in accounting and audit fees, legal fees and salaries and benefits. The increase in legal fees relates primarily to amounts incurred in connection with the negotiation of our patent licensing agreement with Ecoenergy Patent GmbH and in connection with the restructuring of our operations by our new management. The events giving rise to the additional amounts spent on legal fees are not expected to be ongoing. Accounting and auditing fees increased as a result of an increase in the amounts charged by our consulting accountants and by our independent auditors. The increase in salaries and benefits was a result of the hiring of two additional non-management employees.

Also, during the period ended December 31, 2007, we recorded stock-based compensation expenses of $57,242 on account of stock options granted to certain of our officers and directors during the period. No options or other stock-based compensation were granted during the period ended December 31, 2005.

LIQUIDITY AND CAPITAL RESOURCES

Working Capital

At At Percentage
December 31, 2006 September 30, 2006 Increase / (Decrease)
Current Assets $675,063 $854,960 (21.0)%
Current Liabilities (3,692,753) (2,914,370) 26.7%
Working Capital Surplus (Deficit) $(3,017,690) $(2,059,410) 46.5%

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Included in current liabilities are a total of $1,527,238 payable to a law firm of which one of our former officers and directors, is a partner. We are currently in negotiations with the former officer and director for the settlement of the amounts owed to him and his law firm.

Cash Flows

Three Months Ended December 31
2006 2005
Cash Flows used in Operating Activities $(767,895) $(623,299)
Cash Flows used in Investing Activities 5,634 (20,210)
Cash Flows from Financing Activities 677,508 174,408
Effects of Foreign Exchange Rates 6,158 (7,730)
Net Decrease in Cash During Period $(78,595) $(476,831)

During the period ended December 31, 2006, we obtained financing in the form of a EUR 500,000 loan. This loan is unsecured, non-interest bearing and payable upon demand.

Total loans payable at December 31, 2006 consist of the following amounts:

(a) $950,886, bearing interest at a rate of 7.5% per annum, secured by accounts receivable and repayable on or before December 31, 2006;


(b) $773,403, non-interest bearing, secured by accounts receivable and repayable on or before December 31, 2006;


(c) $122,185, bearing interest a rate of 7.5% per annum, unsecured and payable on or before December 31, 2006; and


(d) $1,319,261, non-interest bearing, unsecured and due on demand.


The amounts payable on or before December 31, 2006 have not yet been repaid and are past due. We are currently in negotiations with our creditors for the settlement and repayment of amounts owed to them.

As at December 31, 2006 we had cash in the amount of $108,837 and a working capital deficit of $3,017,690. We anticipate spending approximately $2,000,000 over the next 12 months in pursuing our plan of operation. We will require substantial additional financing in the next few months in order to pursue our current plan of operation.

Although we earned revenues during our fiscal year ended September 30, 2006, we did not earn significant revenues during the fiscal quarter ended December 31, 2006 and we have not yet achieved profitability. Our future financial results are uncertain due to a number of factors, many of which are outside of our control. These factors include, but are not limited to:

(a) our ability to commercially market our ThermoMobil and AquaMission products;


(b) our ability to develop a commercially marketable EnergyMission/Yellow Box product;


(c) our ability to raise additional capital necessary to implement our business strategy and plan of operation;


(d) our ability to compete with other existing technologies; and


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(e) the success of any marketing and promotional campaign which we conduct for our products once development is complete.


Due to the uncertainty regarding our future revenues and profitability, we expect that the majority of additional financing that we obtain, if any, will likely be in the form of equity financing. Our management does not expect sufficient debt financing to be available to us through traditional sources at this stage of our business.

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 are material to our stockholders.

CRITICAL ACCOUNTING POLICIES

The preparation of financial statements in conformity with generally accepted accounting principles requires our management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Our management routinely makes judgments and estimates about the effects of matters that are inherently uncertain.

We have identified certain accounting policies, described below, that are most important to the portrayal of our current financial condition and results of operations. Our significant accounting policies are disclosed in Note 3 to the interim financial statements included in this Quarterly Report.

Principles of Consolidation

The consolidated financial statements include the accounts of Aqua Society, Inc and our wholly owned subsidiary, Aqua Society GmbH, a German limited liability company (“Aqua GmbH”). All inter-company transactions have been eliminated.

Foreign Currency Translation

Our functional currency is United States dollars. Our subsidiary, Aqua GmbH, uses the Euro as its functional currency. Accordingly, assets and liabilities of Aqua GmbH are translated into US dollars at the exchange rate in effect at the balance sheet date and capital accounts are translated at historical rates. Income statement accounts are translated at the average rates of exchange prevailing during the period. Translation adjustments arising from the use of differing exchange rates from period to period are included in the Accumulated Other Comprehensive Gain/(Loss) account in Stockholders’ Equity.

Transactions undertaken in currencies other than the functional currency of the entity are translated using the exchange rate in effect as of the transaction date. Any exchange gains and losses would be included in the Statement of Operations.

Patents, Patent Rights and Amortization

Patents and patent rights are recorded at cost. We provide for the amortization of patents and patent rights on the straight-line basis over their estimated economic lives, estimated to be 5 years. Amortization is recorded upon the patents being awarded.

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RISKS AND UNCERTAINTIES

Need For Financing

We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability. We are likely to continue to need substantial additional financing in order to implement our long term business plan. There is no assurance that we will be able to acquire sufficient financing on terms acceptable to us or at all. If financing is not available or obtainable, our ability to meet our financial obligations and pursue our plan of operation will be substantially limited and investors may lose a substantial portion or all of their investment

Limited Operating History, Risks Of A New Business Venture

We are still in the process of developing our business and have only recently begun to earn revenues. Readers are cautioned that our past results may not be indicative of future performance.

Potential investors should be aware of the difficulties normally encountered by a new enterprise and the high rate of failure of such enterprises. The potential for future success must be considered in light of the problems, expenses, difficulties complications and delays encountered in connection with the development of a business in the area in which we intend to operate and in connection with the formation and commencement of operations of a new business in general. These include, but are not limited to, unanticipated problems relating to research and development programs, marketing, approvals by government agencies, competition and additional costs and expenses that may exceed current estimates. There is no history upon which to base any assumption as to the likelihood that we will prove successful, and there can be no assurance that we will ever achieve profitable operations.

If We Are Unable To Achieve Market Acceptance For Our Products, We Will Be Unable To Build Our Business

To date, we have completed technical development of our EnergyMission/Yellow Box, ThermoMobil and AquaMission products. However, we have only received a limited number of confirmed orders for these products. Our future success will depend upon the acceptance of our existing products, and other products that we develop, by the respective industries in which we intend to market those products. Achieving such acceptance will require significant investments in research and development and market development. The technologies upon which our products and services are based are relatively new and are evolving. Accordingly, in order to achieve commercial acceptance, we will have to educate prospective clients about the uses and benefits of our products.

Even If We Are Able To Develop A Commercial Market For Our Products, We May Not Have The Ability To Meet The Demand For Those Products

We intend to complete the construction of the initial AquaMission, ThermoMobil and EnergyMission/Yellow Box units ordered from us at our facilities located in Herten, Germany. However, the size of these facilities is limited.

We are currently in the process of establishing a wholly owned subsidiary in the Netherlands, with which we intend to establish a larger scale production facility. Further, we intend to seek supply contracts and/or joint venture/licensing agreements with independent manufacturing companies to manufacture our products on a large scale basis, however we have not yet entered into any such contracts or agreements.

Our Operations May Be Subject to Extensive Government Regulation

Our operations may be subject to extensive government regulations in the United States, Europe and elsewhere. In order to sell our products, we may have to satisfy numerous mandatory procedures,

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regulations, and safety standards established by international, federal and state regulatory agencies. Although we currently comply with stringent German regulations, there can be no assurance that we can successfully comply with all present and future government regulations worldwide.

Risks of International Business Operations

Although we are incorporated in the United States, the majority of our operating activities are conducted in Germany. Additionally, in the past, we have targeted markets for our products in the Persian Gulf and other developing parts of the world, such as Africa. As such, a significant portion of our business depends upon our ability to establish and maintain successful relationships with businesses and governments located outside of the United States. If we are unable to establish and maintain such relationships, we may not be able to implement our business plan or plan of operations.

In order to better manage the risks associated with our international operations, our management has decided to focus their business development efforts on markets near to our base of operations, such as Germany, the Netherlands and the rest of Europe.

Rapid Technological Changes In Our Industry Could Make Our Products Obsolete

The industry in which we intend to compete is characterized by rapid technological change and intense competition. New technologies, products and industry standards will develop at a rapid pace which could make our planned products obsolete. Our future success will depend upon our ability to develop and introduce product enhancements to address the needs of our customers.

Asserting And Defending Intellectual Property Rights May Impact Results Of Operations

The success of our business may depend on our ability to successfully defend our intellectual property rights. Future litigation may have a material impact on our financial condition even if we are successful in developing and marketing products. We may not be successful in defending or asserting our intellectual property rights.

An adverse outcome in any litigation or interference proceeding could subject us to significant liabilities to third parties and require us to cease using the technology that is at issue or to license the technology from third parties. In addition, a finding that any of our intellectual property rights are invalid could allow our competitors to more easily and cost-effectively compete. Thus, an unfavorable outcome in any patent litigation or interference proceeding could have a material adverse effect on our business, financial condition or results of operations.

The cost to us of any patent litigation or interference proceeding could be substantial. Uncertainties resulting from the initiation and continuation of patent litigation or interference proceedings could have a material adverse effect on our ability to compete in the marketplace. Patent litigation and interference proceedings could also absorb significant management time.

We May Be Subject To Product Liability Lawsuits

We may be subject to product liability claims. Such claims may absorb significant management time and could degrade our reputation and the marketability of our products. If product liability claims are made with respect to our products, we may need to recall the implicated product which could have a material adverse effect on our business, financial condition and results of operations. In addition, although we may maintain product liability insurance, we cannot be sure that such insurance will be adequate to cover potential product liability lawsuits. Insurance is expensive and in the future may not be available on acceptable terms, if at all. If a successful product liability claim or series of claims exceeds insurance coverage, it could have a material adverse effect on our business, financial condition and results of operations.

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If We Are Late In Filing Any Of Our Annual Or Quarterly Reports During The Next Two Years, Our Common Stock May Become Ineligible For Quotation On The OTC Bulletin Board, Which Would Negatively Affect The Market For Our Shares And Our Ability To Obtain Additional Financing.

On November 16, 2005, the SEC approved certain changes to NASD Rule 6530. As amended, NASD Rule 6530 provides that OTC Bulletin Board (“OTCBB”) issuers who are late in filing their annual or quarterly reports three times within a 24-month period will be ineligible for quotation on the OTCBB. In order to regain eligibility under this rule, the issuer would need to timely file all of its annual and quarterly reports due in a one year period. The amended NASD Rule 6530 does not apply to annual or quarterly reports for periods ended before October 1, 2005.

From time to time, we have been late in filing our quarterly and annual reports. If we are late in filing our annual or quarterly reports three times within a 24-month period, we may become ineligible for quotation on the OTCBB, which would negatively affect the market for our common stock. In addition, if our common stock is no longer eligible for quotation on the OTCBB, it may become more difficult for us to obtain additional equity financing as shares of our common stock will be less attractive to potential investors.

ITEM 3. CONTROLS AND PROCEDURES.

Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as of the end of the period covered by this report. Based on that evaluation, our principal executive officer and principal financial officer has concluded that our disclosure controls and procedures were not effective as we failed to timely file our periodic reports with the SEC on a number of occasions during the past fiscal year.

Our new management is in the process of taking measures to improve our disclosure controls and procedures in an effort to ensure that the information required to be disclosed is internally communicated and publicly reported within the time periods specified in the SEC’s rules and forms. In particular, we intend to engage outside consultants to assist us in the preparation of our accounting records and financial statements and will attempt to increase internal accountability and to clearly define internal communication channels in an effort to remedy the deficiencies identified by our principal executive officer and principal financial officer.

By working with our external consultants and our principal independent accountants, our management believes that the financial statements and the other information presented in this Quarterly Report are materially correct.

There were no changes in our internal control over financial reporting during the last fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

None.

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

All unregistered sales of our equity securities completed during our fiscal quarter ended December 31, 2006 have been previously reported in the Quarterly Reports on Form 10-QSB and Current Reports on Form 8-K that we filed during that period.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

None.

ITEM 5. OTHER INFORMATION.

Compensatory Arrangements Of Certain Officers

Effective December 28, 2006, we entered into management consulting services agreements with each of Robert Terberg, our current Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary, and currently a member of our Board of Directors, and Hugo van der Zee, currently the Chairman of our Board of Directors. The terms of our agreements with Mr. Terberg and Mr. van der Zee are disclosed in our Annual Report filed with the SEC on January 16, 2007.

ITEM 6. EXHIBITS.

Exhibit
Number Description of Exhibit
3.1 Restated Articles of Incorporation filed with the Nevada Secretary of State effective December 27, 2004.(5)
3.2 Bylaws, effective March 2, 2000.(1)
10.1 Share Purchase Agreement between Water-Capital-Holding Ltd., V G Tech, Inc., Aqua Society GmbH and Steve Livingston, dated for reference September 3, 2004.(2)
10.2 Agreement and Deed of Transfer between Water-Capital-Holding Ltd. and V G Tech, Inc.

[krofisch]

Antwort auf Beitrag Nr.: 28.146.220 von westfale64 am 06.03.07 14:50:45

Nach der westfale64-\\'Wahrheit\\' nun wieder Fakten!

Bericht Kommunalwirtschaft Ausgabe Januar 2007

Quelle:

http://www.aqua-society.com/DOWNLOADS/Presseartikel/Kommunal…

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 28.151.120 von krofisch am 06.03.07 17:41:20

wenn man diesen Link anklickt kommt genau das was Aqua Wert ist.

[westfale64]

#5006:
Aquas Lemmingabzocke, nachzulesen IN AQUAS EIGENEM QUARTALSBERICHT







Aquas Pusher kann die Abzocke der Aqua-Bande in #5006 wieder mal nicht erklären.
Deshalb kann er diesen Thread nur zumüllen um peinliche Fragen nach den Millionenprovisionen, die die Aqua Gründer/Vorstände sich selbst genehmigen, nach hinten zu schieben.

[westfale64]

In #5002 stehen die wichtigen Passagen aus Aquas Quartalsbericht.

So, Pusher, jetzt haben Sie wieder was zum Zumüllen.

[krofisch]

Antwort auf Beitrag Nr.: 28.152.579 von westfale64 am 06.03.07 18:48:23

Einfach zu schön der tägliche verzweifelte und vor allem kindische Hinweis auf die immer noch typische sehr kreative und merkwürdige 'Übersetzungskunst' von 'Pinochio',
der evtl. so manchen mit seinen kopierten Hasspostings doch sehr an ehemalige wegen Unfähigkeit entlassene Hamm-Mitarbeiter erinnert?

Macht nichts!

Das ORIGINAL steht ja hier:
#5022!

[krofisch]

Antwort auf Beitrag Nr.: 28.152.479 von westfale64 am 06.03.07 18:42:55

Herrlich diese vielen aber wenigstens ungelogenen Leerzeilen!

[Leichtmatrose]

Antwort auf Beitrag Nr.: 28.154.148 von krofisch am 06.03.07 20:09:45

http://www.manager-magazin.de/geld/geldanlage/0,2828,469388,…

"Die Liste von Lächerlichkeiten ist so lang, dass man denkt, das kann gar nicht sein"

[krofisch]

Antwort auf Beitrag Nr.: 28.152.579 von westfale64 am 06.03.07 18:48:23

Bericht Kommunalwirtschaft Ausgabe Januar 2007

Quelle:

http://www.aqua-society.com/DOWNLOADS/Presseartikel/Kommunal…

[Leichtmatrose]

Antwort auf Beitrag Nr.: 28.156.667 von krofisch am 06.03.07 22:42:01

Typisch Aqua Society

Der Artikel lässt sich gar nicht abrufen: Ladefehler!

Banausen!
"Die Liste von Lächerlichkeiten ist so lang, dass man denkt, das kann gar nicht sein"

http://www.manager-magazin.de/geld/geldanlage/0,2828,469388,…

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 28.157.150 von Leichtmatrose am 06.03.07 23:34:10

sag ich doch,
wenn man diesen Link anklickt kommt genau das was Aqua Wert ist, nämlich 0-leer-nix

[Keatanu]

Antwort auf Beitrag Nr.: 28.156.667 von krofisch am 06.03.07 22:42:01

Ich lach mich tot!

Der Artikel ist doch von AQUA in Person Volker Schulz selbst verfasst und in diesem Journal für Kohle gedruckt worden. Und der Bericht stinkt zum Himmel vor lauter unseriösen Äußerungen.

Das Journal möchte doch nur die Werbeeinnahmen kassieren. Korrekte Berichterstattung funktioniert anders. Lasst doch mal einen Journalisten von FOCUS, SPIEGEL oder einem anderen Blatt hinter Eure Kulissen schauen. Die werden staunen, mit wie wenig Mitteln man in Deutschland (Verzeihung OTC USA) Millionär werden kann.

Die armen Aktionäre!

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 28.160.934 von Keatanu am 07.03.07 10:52:46

kommt da bei dir was? Bei mir steht unten zwar ferig dran aber ich habe nur eine weiße Seite.

[westfale64]

Antwort auf Beitrag Nr.: 28.160.934 von Keatanu am 07.03.07 10:52:46

Dieses Abzock-Spiel funktioniert bei Aqua seit Jahren:

Ob es nun der angebliche "Durchbruch", "Pilotprojekte", "Probebetriebe" oder erfundene "Bestellungen" und "Aufträge" sind - nach jeder dieser gekauften Pushmeldungen kaufen die Lemminge den Altaktionären/Aqua-Gründern ihre weetlosen Aktien ab. Denn die Lemminge lesen den Quartalsbericht nicht. Sonst wüssten sie, dass es ausser den Millionenprovisionen, die sich die Altaktionäre/Aqua-Gründer selbst genehmigen, nur darum geht, die 100 Mio. Aqua-Aktien bei den Dummen abzuladen.


#5006:
Aquas Lemmingabzocke, nachzulesen IN AQUAS EIGENEM QUARTALSBERICHT

In #5002 stehen die wichtigen Passagen aus Aquas Quartalsbericht.

[Borealis]

Die stellen eine fehlerhafte Datei, die sich gar nicht herunterladen läßt, auf ihre Homepage und machen sogar noch Werbung dafür. (Frei nach Trappatoni: "Aqua Society ist wie Zettel leer, Aqua hat fertig.")
Wer noch nicht gewußt hat, wie unfähig die bei Aqua Society sind, der weiß es spätestens jetzt.

[Dueppi_de]

Hier steht auch was über Aqua Society:

http://www.spiegel.de/wirtschaft/0,1518,470322,00.html

[krofisch]

Antwort auf Beitrag Nr.: 28.167.245 von westfale64 am 07.03.07 15:59:38

Einfach zu schön der tägliche verzweifelte und vor allem kindische Hinweis auf die immer noch typische sehr kreative und merkwürdige \'Übersetzungskunst\' von \'Pinochio\',
der evtl. so manchen mit seinen kopierten Hasspostings doch sehr an ehemalige wegen Unfähigkeit entlassene Hamm-Mitarbeiter erinnert?

Macht nichts!

Das ORIGINAL steht ja hier:

http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

10QSB 1 form10qsb.htm QUARTERLY REPORT FOR THE PERIOD ENDED DECEMBER 31, 2006
--------------------------------------------------------------------------------

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-QSB

(Mark One)

[ X ] Quarterly Report Under Section 13 Or 15(d) Of The Securities Exchange Act Of 1934
For the quarterly period ended December 31, 2006

[ ] Transition Report Under Section 13 Or 15(d) Of The Securities Exchange Act
For the transition period from ________to ________

COMMISSION FILE NUMBER 000-50163

AQUA SOCIETY, INC.
(Exact name of small business issuer as specified in its charter)

NEVADA 52-2357931
(State or other jurisdiction of incorporation or (IRS Employer Identification No.)
organization)

Konrad - Adenauer Strasse 9-13
45699 Herten, Germany
(Address of principal executive offices)

011-49-6031-791-760
Issuer's telephone number

Not Applicable
Former name, former address and former fiscal year, if changed since last report

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 [ X ] No [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: As of February 20, 2007 the Issuer had 118,178,323 Shares of Common Stock outstanding.

Transitional Small Business Disclosure Format (check one): Yes [ ] No [X]

1


--------------------------------------------------------------------------------

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

2


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.

INTERIM CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2006

(Stated in US Dollars)

(Unaudited)


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED BALANCE SHEETS
December 31, 2006 and September 30, 2006
(Stated in US Dollars)
(Unaudited)

December 31, September 30,
ASSETS 2006 2006

Current
Cash $ 108,837 $ 187,432
Accounts receivable – trade 76,838 143,039
– other – Note 4 59,367 -
Government value added tax receivable 97,631 217,919
Inventory 332,389 306,569
Loans receivable 1 1

675,063 854,960
Investments – Note 3 2 2
Patents and patent rights 193,485 193,485
Equipment 53,811 65,343

$ 922,361 $ 1,113,790

LIABILITIES

Current
Accounts payable and accrued liabilities – Note 4 $ 527,018 $ 537,271
Loans payable – Notes 4 and 5 3,165,735 2,377,099

3,692,753 2,914,370

STOCKHOLDERS’ DEFICIENCY

Common stock, $0.001 par value – Notes 6 and 8
300,000,000 shares authorized
118,178,323 shares issued and outstanding (September 30, 2006:
118,178,323 shares) 118,179 118,179
Additional paid-in capital 28,690,854 28,609,612
Accumulated other comprehensive loss (246,705 ) (150,368 )
Accumulated deficit (31,332,720 ) (30,378,003 )

(2,770,392 ) (1,800,580 )

$ 922,361 $ 1,113,790

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Sales $ 25,441 $ 782,242
Less: cost of goods sold 580 593,010

24,861 189,232

General and administrative expenses:
Accounting and audit fees 73,443 57,121
Advertising and promotion 19,329 58,187
Amortization 5,899 6,584
Bad debts 28,431 43,685
Bank charges and interest 117 85
Consulting fees 36,634 177,085
Development costs – Note 4 268,919 412,455
Filing fees 867 121
Interest 57,256 57,088
Legal fees – Note 4 130,228 36,264
Management fees – Note 4 57,988 124,857
Office and miscellaneous 23,270 66,274
Rent 26,154 28,917
Salaries and benefits 154,052 96,888
Stock-based compensation 57,242 -
Transfer agent 225 815
Travel – Note 4 39,524 80,478
Write down of patents - 8,994
Write down of inventory - 63,928

(979,578 ) (1,319,826 )

Operating loss before other item (954,717 ) (1,130,594 )

Other item:
Interest income - 5,292

Net loss for the period (954,717 ) (1,125,302 )

Other comprehensive loss
Foreign currency adjustment (96,337 ) (2,551 )

Comprehensive loss for the period $ (1,051,054 ) $ (1,127,853 )

Basic loss per share $ (0.01 ) $ (0.01 )

Weighted average number of shares outstanding 118,178,323 115,771,988

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Cash flows used in Operating Activities
Net loss for the period $ (954,717 ) $ (1,125,302 )
Items not affecting cash:
Amortization 5,899 6,584
Stock-based compensation 57,242
Write-down of patents - 8,994
Write-down of inventory - 63,928
Interest imputed on loans payable 24,000 -
Changes in non-cash working capital items:
Accounts receivable 10,882 (126,415 )
Government value added tax receivable 126,004 12,329
Inventory (13,251 ) 9,748
Accounts payable and accrued liabilities (23,954 ) 526,835

(767,895 ) (623,299 )

Cash flows used in Investing Activities
Equipment disposal 5,634 48,178
Repayment of loans receivable - (68,388 )

5,634 (20,210 )

Cash flows from Financing Activity
Increase in loans payable 677,508 174,408

Effect of exchange rates on cash 6,158 (7,730 )

Decrease in cash during the period (78,595 ) (476,831 )

Cash, beginning of the period 187,432 658,949

Cash, end of the period $ 108,837 $ 182,118

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Capital stock issued for cash 1 $ 31,042 $ - - $ - $ - $ - $ 31,042
Contribution of assets - - 25,056 - - - - 25,056
Pursuant to the acquisition of Aqua
Society GmbH 10,000,000 10,000 - 34,000,000 34,000 - - 44,000
Exchange of shares (1 ) (31,042 ) - - - - - (31,042 )
Outstanding shares of Company
prior to acquisition 69,908,000 69,908 - - - - (194,748 ) (124,840 )
Unrealized loss on translation - - - - - (997 ) - (997 )
Net loss for the period - - - - - - (67,448 ) (67,448 )

Balance, September 30, 2004 79,908,000 79,908 25,056 34,000,000 34,000 (997 ) (262,196 ) (124,229 )

Issued for cash:
Pursuant to private placement - at $2.40 416,666 417 999,583 - - - - 1,000,000
- at $1.98 1,232,322 1,233 2,438,766 - - - - 2,439,999
Pursuant to exercise of options - at $1.70 215,000 215 365,285 - - - - 365,500
Conversion of special warrants 34,000,000 34,000 - (34,000,000 ) (34,000 ) - - -
Stock-based compensation - - 22,480,000 - - - - 22,480,000
Unrealized gain on translation - - - - - 89,594 - 89,594
Net loss for the year - - - - - - (25,787,558 ) (25,787,558 )

Balance, September 30, 2005 115,771,988 115,773 26,308,690 - - 88,597 (26,049,754 ) 463,306

Pursuant to private placement - at $1.04 1,160,960 1,161 1,206,237 - - - - 1,207,398
- at $0.88 1,245,375 1,245 1,094,685 - - - - 1,095,930
Unrealized loss on translation - - - - - (238,965 ) - (238,965 )
Net loss for the period - - - - - - (4,328,249 ) (4,328,249 )

Balance, September 30, 2006 118,178,323 118,179 28,609,612 - - (150,368 ) (30,378,003 ) (1,800,580 )

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

Continued

AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Stock-based compensation - - 57,242 - - - - 57,242
Unrealized loss on translation - - - - (96,337 ) - (96,337 )
Contribution of interest – Note 5 - - 24,000 - - - - 24,000
Net loss for the period - - - - - - (954,717 ) (954,717 )

Balance, December 31, 2006 118,178,323 $ 118,179 $ 28,690,854 - $ $ (246,705 ) $ (31,332,720 ) $ (2,770,392 )

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2006
(Stated in US Dollars)
(Unaudited)

Note 1 Interim Reporting

While information presented in the accompanying interim consolidated financial statements is unaudited, it includes all adjustments, which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented. All adjustments are of a normal recurring nature. The accompanying interim consolidated financial statements do not include all information and footnote disclosures required for an annual set of financial statements prepared under generally accepted accounting principles in the United States of America. The accompanying interim consolidated financial statements should be read in conjunction with the Company’s September 30, 2006 audited consolidated financial statements. Operating results from the period ended December 31, 2006 are not necessarily indicative of the results that can be expected for the year ending September 30, 2007.


Note 2 Nature and Continuance of Operations

These interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for the next twelve months. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. At December 31, 2006, the Company had not yet achieved profitable operations, has accumulated losses of $31,332,720 since its inception, has a working capital deficiency of $3,017,690 and expects to incur further losses in the development of its business, all of which casts substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations 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 considers that the Company will be able to obtain additional funds by equity financing and/or related party advances; however there is no assurance of additional funding being available.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 2
(Unaudited)

Note 3 Investments

i) UFI Tec GmbH

By an agreement dated November 30, 2004 and effective December 10, 2004, the Company acquired a 33% interest in UFI-Tech GmbH (“UFI”), a German limited company, for consideration of EUR 25,565 (US $32,476). During the year ended September 30, 2005, the Company wrote down the $32,476 investment and related loans receivable of $67,227 to their net realizable value of $1. During the year ended September 30, 2006, the Company sold 13.1% of their 33% interest (19.9% interest remains) for proceeds of EUR 10,072 (US $12,237) and wrote down an additional loan receivable of $66,094 to its net realizable value of $1.

ii) By an agreement dated February 18, 2006, the Company acquired a 51% interest in TMR GmbH (“TMR”), a German limited company, in consideration of EUR 12,750 (US $15,999). TMR is involved in the development, installation, distribution and management of renewable resources. At the date of acquisition, TMR had no business, assets or liabilities. During the year ended September 30, 2006, the Company wrote down its investment by $15,674 (EUR 12,749) to $1. During the three months ended December 31, 2006, the Company disposed of its interest in TMR for $1.

Note 4 Related Party Transactions – Note 7

The Company incurred the following amounts charged by directors of the Company, the brother of a director of the Company and a law firm of which a former director of the Company is a partner:

Three months ended
December 31,
2006 2005

Development costs $ 88,013 $ 191,595
Legal fees - 26,073
Management fees 57,988 124,857
Travel - 1,780

$ 146,001 $ 344,305

Accounts receivable – other includes $59,367 related to an advance to a former officer of the Company.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 3
(Unaudited)

Note 4 Related Party Transactions – Note 7 – (cont’d)

Included in accounts payable and accrued liabilities is $77,498 (September 30, 2006: $79,358) due to directors of the Company and a former director of the Company. These amounts are unsecured, non-interest bearing and have no specific terms for repayment.

Included in loans payable is $1,527,238 (September 30, 2006: $1,441,507) due to a law firm of which a former director of the Company is a partner.

Note 5 Loans Payable

Of the total loans outstanding at December 31, 2006, $950,886 (September 30, 2006: $883,822) bear interest at 7.5% per annum, are secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $773,403 (September 30, 2006: $743,675) are non-interest bearing, secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $1,319,261 (September 30, 2006: $634,276) are non-interest bearing, unsecured and due on demand, and $122,185 (September 30, 2006: $115,326) of loans payable bear interest of 7.5% per annum, are unsecured and are repayable on or before December 31, 2006. The loans due on or before December 31, 2006 were not repaid and are consequently in default. The company has imputed interest on the non-interest bearing loans at 10% per annum for a total of $24,000 during the three months ended December 31, 2006.

Note 6 Capital Stock – Note 8

Commitments:

Share Purchase Options

On December 21, 2006, the Company adopted a second stock incentive plan (the “2006 Stock Option Plan”) to provide incentives to employees, directors, officers and permitted consultants. The 2006 Stock Plan provides for the issuance of up to 7,000,000 options with a term to be determined by the plan administer or, if not so established, ten years. The maximum aggregate number of shares that may be optioned under the 2006 Stock Option Plan will be increased effective the first day of each of the Company’s fiscal quarters (“adjustment date”), beginning with the fiscal quarter commencing April 1, 2007 by an amount equal to the lesser of i) 15% of the outstanding shares on the first day of the applicable quarter less a) the number of shares of common stock that may be optioned and sold under the plan prior to the adjustment date and b) the number of shares of common stock that may be optioned and sold under any other stock option plan in effect as of the adjustment date or ii) such lesser number of shares of common stock as may be determined by the Board.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 4
(Unaudited)

Note 6 Capital Stock – Note 8 – (cont’d)

Commitments: – (cont’d)

Share Purchase Options – (cont’d)

A summary of the stock options outstanding as at December 31, 2006 and changes during the period is presented below:

Weighted
Average
Exercise
Shares Price

Options outstanding at September 30, 2006 7,535,000 $ 1.70
Granted 4,500,000 $ 0.40

Options outstanding at December 31, 2006 12,035,000 $ 1.21

Options exercisable at December 31, 2006 7,535,000

A summary of stock options outstanding at December 31, 2006, is as follows:

Exercise
Number Price Expiry Date

562,500 $0.40 April 1, 2009
562,500 $0.40 July 1, 2009
562,500 0.40 October 1, 2009
7,535,000 $1.70 October 15, 2009
562,500 $0.40 January 1, 2010
562,500 $0.40 April 1, 2010
562,500 $0.40 July 1, 2010
562,500 $0.40 October 1, 2010
562,500 $0.40 January 1, 2011

12,035,000

The Company used the Black-Scholes option pricing model to compute estimated fair value at each of the grant dates.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 5
(Unaudited)

Note 6 Capital Stock – Note 8– (cont’d)

Commitments – (cont’d)

Share Purchase Options – (cont’d)

The Black-Scholes option-pricing model requires the input of highly subjective assumptions including the expected price volatility. Changes in the subjective input assumptions can materially affect the fair value estimate and therefore the Black-Scholes model does not necessarily provide a reliable single measure of the fair value of the Company’s share purchase options.

The Company used the Black-Scholes option pricing model to compute the estimated fair value of the options granted during the three months ended December 31, 2006, based on the following assumptions:

Risk-free interest rate 4.84%
Dividend yield rate 0.00%
Price volatility 159.23%
Weighted average expected life of options 2.03 years
Weighted average fair value $0.36

The Company recognized stock-based compensation of $57,242 during the three months ended December 31, 2006.

Share Purchase Warrants

As at December 31, 2006, a total of 2,406,335 share purchase warrants exercisable into 2,406,335 common shares were outstanding as follows:

Exercise
Number Price Expiry Date

1,169,960 $1.30 February 9, 2008
1,245,375 $1.10 June 15, 2008

2,406,335


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 6
(Unaudited)

Note 7 Commitments

i) Lease Contracts

By four lease agreements dated September 30, 2004 and effective October 1, 2004, the Company entered into four lease contracts for the Company’s corporate head office. The leases require total payments of EUR 6,690 (US$8,826) per month. Two of the leases are effective until May 31, 2007 and the other two are effective until December 31, 2007. The leases will be automatically extended every year unless cancelled with six months advance notice.

Minimum future lease payments

September 30, 2007 $ 80,960
2008 12,144

$ 93,104

ii) Management/Consulting Contracts


a) By a management consulting contract dated September 30, 2004 and effective October 1, 2004, the Company’s subsididary (“GmbH”) agreed to pay EUR15,000 (US $19,789) per month to a managing director of GmbH for development, production and quality assurance services. The managing director of the GmbH is also a director of the Company. This contract is for an unlimited term but may be terminated by either party with six months advance notice.


b) By a consulting agreement dated October 1, 2004, the Company agreed to pay $2,000 per month to a consultant of the Company. The agreement is effective for a term of 5 years. The Company granted 500,000 common stock options upon signing of the agreement. The exercise price of the stock options is $1.70 per share and expires on October 15, 2009.


c) By a management consulting contract dated and effective October 1, 2004, the Company agreed to pay EUR 5,000 (US$6,274) per month for marketing and business development services. Effective October 1, 2005, the contract was amended to increase the payment to EUR 7,500 (US $9,411) per month. Effective October 1, 2006, the contract was amended to EUR 15,000 (US$19,028) per month for October, November and December, 2006. By an agreement dated November 1, 2006 and effective January 11, 2007, the Company agreed to the payment of EUR 2,000 (US $2,638) per month until December 31, 2007 and a 5% commission of gross sales to third parties which occurred as a result of the consultant’s work. The contract automatically renews for one year if not terminated at the end of a year by giving six months advance notice.



--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 7
(Unaudited)

Note 7 Commitments – (cont’d)

ii) Management/Consulting Contracts – (cont’d)

d) By a management consulting contract dated and effective January 1, 2005, the GmbH agreed to pay EUR 5,520 (US $7,002) per month for marketing, sales and distribution services. By an agreement dated November 10, 2006 and effective January 1, 2007, the contract was amended to decrease the payment to EUR 3,750 (US $4,947) per month with additional payments of EUR 10,000 (US $12,686) and EUR 5,000 (US$6,343) in November and December 2006 respectively. The contract ends on December 31, 2007 and may be terminated by either party with three months advance notice.

e) By a management consulting agreement dated August 1, 2005, the GmbH agreed to pay EUR 3,900 (US $5,145) per month for administration services for the research and development department. The contract is for an unlimited term and may be terminated by either party by giving six months advance notice.

f) By a management consulting contract dated December 12, 2005 and effective January 1, 2006, the GmbH agreed to pay EUR 20,000 (US $25,371) per month to March 31, 2006 and EUR 25,000 (US $31,714) per month to December 31, 2006 for technical services. Effective September 18, 2006, the contract was amended and the payment was decreased to EUR 10,000 (US$ 12,686) per month and extended to June 30, 2007. The management consulting contract is with a company owned by a director of the Company.

g) By a management consulting contract dated November 10, 2004, the Company agreed to pay EUR 500 (US $660) per press release to a former director of the Company. This contract is for an unlimited term but may be terminated by either party with one month advance notice.

h) By management consulting agreements dated December 28, 2006, the Company agreed to pay directors of the Company a total of EUR 56,000 (US $73,879) for the period October 1, 2006 to December 31, 2006 and EUR 14,000 (US $18,470) per month for the period January 1, 2007 to September 30, 2007. The contract is for an unlimited term but may be terminated by either party with three months advance notice.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 8
(Unaudited)

Note 8 Subsequent Event

Subsequent to December 31, 2007, the Company approved a private placement offering of 7,500,000 units at $0.30 per unit with each unit consisting of one share of the Company’s common stock and one-half share purchase warrant for total proceeds of $2,250,000. Each share purchase warrant entitles the holder to purchase one additional share of the Company’s common stock at $0.35 per share for a period of one year from the date of issuance of the units.


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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this Quarterly Report constitute "forward-looking statements". These statements, identified by words such as “plan”, "anticipate," "believe," "estimate," "should," "expect" and similar expressions include our expectations and objectives regarding our future financial position, operating results and business strategy. These statements reflect the current views of management with respect to future events and are subject to risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from those described in the forward-looking statements. Such risks and uncertainties include those set forth under the caption "Management's Discussion and Analysis or Plan of Operation" and elsewhere in this Quarterly Report. We do not intend to update the forward-looking information to reflect actual results or changes in the factors affecting such forward-looking information. We advise you to carefully review the reports and documents we file from time to time with the United States Securities and Exchange Commission (the “SEC”), particularly our Annual Reports on Form 10-KSB and our Current Reports on Form 8-K.

As used in this Quarterly Report, the terms "we", "us", "our", “the Company” and “Aqua Society” mean Aqua Society, Inc. unless otherwise indicated. All dollar amounts in this Quarterly Report are in U.S. dollars unless otherwise stated.

INTRODUCTION

The following discussion and analysis summarizes our plan of operation for the next twelve months, our results of operations for the three month period ended December 31, 2006 and changes in our financial condition from September 30, 2006. This discussion should be read in conjunction with the Management’s Discussion and Analysis or Plan of Operation included in our Annual Report on Form 10-KSB for the year ended September 30, 2006.

We were incorporated under the laws of the State of Nevada on March 2, 2000, under the name “V G Tech, Inc.”

On September 22, 2004, we completed the acquisition of Aqua Society GmbH (“Aqua GmbH”). Prior to our acquisition of Aqua GmbH, we were in the business of providing services in the areas of digital graphics and special effects. Upon completing the acquisition of Aqua GmbH, we abandoned this digital imaging business. We are now in the business of designing and developing applied technologies, and providing consulting services, in the areas of heating, ventilation, air conditioning, refrigeration, water purification, waste water treatment, and, our latest business segment, energy (collectively, the “Aqua Business”).

Effective December 27, 2004, we changed our name to “Aqua Society, Inc.” to better reflect the nature of our current business operations

Recent Corporate Developments

The following significant corporate developments have occurred since our fiscal year ended September 30, 2006:

1. After the completion of our 2006 fiscal year, we completed the construction of a demonstration prototype of our EnergyMission / Yellow Box technology. A media event to showcase this demonstration model was held at our facilities on December 21, 2006. This demonstration unit will be used by us for marketing and demonstration purposes as well as for research and development.


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2. On December 21, 2006, our Board of Directors approved and adopted our 2006 Stock Option Plan (the “2006 Option Plan”). Under the 2006 Option Plan, options may be granted for a maximum of 7,000,000 shares of our common stock. The maximum number of shares that may be optioned under the 2006 Option Plan will increase each fiscal quarter, beginning with the fiscal quarter commencing April 1, 2007, by an amount equal to 15% of the total increase in the number of shares of common stock outstanding or such lesser amount as may be determined by our Board of Directors.


A summary of our 2006 Option Plan is set forth in our Current Report on Form 8-K filed with the SEC on December 29, 2006. The full text of the 2006 Option Plan is attached as Exhibit 10.1 to our Current Report on Form 8-K filed with the SEC on December 29, 2006, and is incorporated by reference herein.


3. Also on December 21, 2006, our Board of Directors approved the grant of options under the 2006 Option Plan for 2,500,000 shares of our common stock at an exercise price of $0.40 per share to Mr. Terberg and options to purchase an aggregate of 2,000,000 shares of our commons stock to Mr. van der Zee, also at a price of $0.40. The options granted to each of Mr. Terberg and Mr. van der Zee vest in equal quarterly instalments, commencing on April 1, 2007 and expiring 2 years after the applicable vesting date.


Changes to the Board of Directors and Executive Officers

In addition to the above corporate developments, there have been a number of changes to our Board of Directors and executive officers since the end of our 2006 fiscal year.

Effective October 31, 2006, Robert Terberg replaced Petrus Lodestijn as our Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary and also as a member of our Board of Directors. Also effective on October 31, 2006, our Board of Directors was expanded by the appointment of Hubert Hamm as a director of the Company and by the appointment of Hugo van der Zee as the Chairman of the Company’s Board of Directors.

PLAN OF OPERATION

During the next twelve months, we will focus: (1) on the design and construction of products ordered from us; (2) on further developing the market for our products; and (3) on continuing to develop and improve our products. Specifically, our plan of operation for the next twelve months involves the following:

1. Design and Construction of Ordered Units: During the next twelve months, we will work on the design and construction of the waste heat power generation, AquaMission and ThermoMobil units for which we have received orders.


2. Market Development Activities: Over the next twelve months we intend to do the following in an effort to continue developing a market for our products and services:


(a) We have completed the construction of a prototype EnergyMission / Yellow Box unit that we will use for marketing and demonstration purposes, as well as for ongoing research and development. The prototype unit will be used by us to demonstrate the effectiveness of our technology to trade media and industry representatives on an ongoing basis.


(b) We are also in the process of setting up a wholly owned subsidiary in the Netherlands (the “Dutch Subsidiary”), through which we will seek to promote all of our products in the “Benelux” countries (Belgium, the Netherlands and Luxemberg). In addition, we intend to use the Dutch Subsidiary to establish an additional production facility to be located in


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the Netherlands. This production facility is expected to enable us to significantly expand our production capabilities from the limited facilities located in Herten, Germany. The Dutch Subsidiary is expected to be based in Zevenaar, near Arnhem, in the east of the Netherlands.


(c) We will continue to attempt to market the AquaMission combined air-conditioning and drinking water product in geographic locations with high ambient temperatures and relative humidity but without readily available sources of fresh water, such as the Persian Gulf and the Middle East. Three demonstration models of the AquaMission are currently on location in the Middle East. We are currently in the process of seeking new sales agents for our products in the Middle East.


We will continue to try and generate sales in the Middle East using these demonstration models.


In addition to these activities, we may also seek to increase brand awareness through various advertising activities and sponsorships.

3. Product Development Activities: During the next twelve months, we will also continue to work on further developing and improving our existing products in an effort to increase their marketability. As part of these efforts, we have developed and built a demonstration model of our Yellow Box technology.


We are also in the process of constructing a high-tech “climate room” that will allow us to simulate the world’s various humidity and temperature zones. This “climate room” will assist us in optimizing our AquaMission unit for different geographic locations.


We anticipate spending approximately $2,000,000 in pursuing our plan of operation over the next twelve months. As of December 31, 2006, the date of our most recently available financial statements, we had a working capital deficit of $3,017,690. As such, we do not have sufficient working capital to meet our expected needs over the next twelve months. Although we have recently begun to earn revenues, we have not yet earned a net profit and we do not expect to achieve profitability in the near future as we expect to continue to incur substantial product development, marketing and operating expenses. We are likely to continue to need substantial additional financing in order to implement our plan of operation. Our management expects that any additional financing that we obtain will likely be in the form of equity financing.

Our actual expenditures and business plan may differ from the one stated above. Our Board of Directors may decide not to pursue this plan. In addition, we may modify the plan based on available financing.

RESULTS OF OPERATIONS

First Quarter Summary

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Revenue $25,441 $782,242 (96.7)%
Cost of Goods Sold (580) (593,010) (99.9)%
General and Administrative Expenses (979,578) (1,319,826) (25.8)%
Other Items Nil (5,292) (100.0)%
Net Loss $(954,717) $(1,125,302) (15.2)%

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Revenues

During our last fiscal year, we earned revenues from HVAC&R and energy optimization consulting services, and from equipment sales made in connection with the provision of those services. However, we do not have a long-term history of earning revenues and, as a result, we are unable to accurately forecast future revenues. Readers are cautioned that our past operating results may not be indicative of future performance.

During the fiscal year ended December 31, 2006, our revenue decreased by 96.7% as compared to the same period ended in 2005. Since their appointment in October, 2006, our new executive officers and directors have been conducting a company wide review of our operations. During this period, we scaled back our HVAC&R and energy optimizing consulting activities. As a result, our revenues decreased substantially.

During the next twelve months, we intend to concentrate our resources on developing the market for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, as we believe that these products will provide us with the greatest opportunity for future profitability. As a result, we may continue to scale back the HVAC&R and energy optimization consulting services that we have provided in the past.

Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products, and there are no assurances that we will be able earn such revenues in the future.

Operating Costs and Expenses

Our operating expenses for the quarterly period ended December 31, 2006 consisted of the following:

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Accounting and audit fees $73,443 $57,121 28.6%
Advertising and promotion 19,329 58,187 (66.8)%
Amortization 5,899 6,584 (10.4)%
Bad debts 28,431 43,685 (34.9)%
Bank charges and interest 117 85 37.6%
Consulting fees 36,634 177,085 (79.3)%
Development costs 268,919 412,455 (34.8)%
Filing fees 867 121 616.5%
Interest 57,256 57,088 0.3%
Legal fees 130,228 36,264 259.1%
Management fees 57,988 124,857 (53.6)%
Office and miscellaneous 23,270 66,274 (64.9)%
Rent 26,154 28,917 (9.6)%
Salaries and benefits 154,052 96,888 (59.0)%
Stock-based compensation 57,242 Nil 100.0%
Transfer agent 225 815 (72.4)%

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Travel 39,524 80,478 (50.9)%
Write down of patents Nil 8,994 (100.0)%
Write down of inventory Nil 63,928 (100.0)%
Total General and Administrative Expenses $979,578 $1,319,826 (25.8)%

Our general and administrative expenses decreased by $340,248, or 25.8%, during the three month period ended December 31, 2006 as compared to 2005. This decrease in our general and administrative expenses was primarily generated as a result of the efforts of our current management to streamline our operations. During the next few months, we expect that our general and administrative expenses will continue to fluctuate somewhat as we continue to review and overhaul our current operations.

Management fees decreased by $66,869, or 53.6%, during the quarter ended December 31, 2006, primarily because of the termination of a management services contract under which we had been obligated to pay management fees of EUR 20,000 per month to a law firm of which a former officer and director is a partner. Also, during the last fiscal quarter, we scaled back some of our product development activities as our management conducted a company wide assessment of our operations. As a result, development costs, and consulting fees associated with our development activities, also decreased significantly during our last fiscal quarter. Office and travel expenses also decreased primarily as a result of our efforts to streamline our operations. Also contributing to the overall decrease in our general and administrative expenses from the quarter ended December 31, 2005 was the fact that, during our December 31, 2005 fiscal quarter, we recognized one-time patent and inventory write down charges totaling $72,922. No patent or inventory write down charges were recognized for the period ended December 31, 2006.

Offsetting the above decreases were significant increases in accounting and audit fees, legal fees and salaries and benefits. The increase in legal fees relates primarily to amounts incurred in connection with the negotiation of our patent licensing agreement with Ecoenergy Patent GmbH and in connection with the restructuring of our operations by our new management. The events giving rise to the additional amounts spent on legal fees are not expected to be ongoing. Accounting and auditing fees increased as a result of an increase in the amounts charged by our consulting accountants and by our independent auditors. The increase in salaries and benefits was a result of the hiring of two additional non-management employees.

Also, during the period ended December 31, 2007, we recorded stock-based compensation expenses of $57,242 on account of stock options granted to certain of our officers and directors during the period. No options or other stock-based compensation were granted during the period ended December 31, 2005.

LIQUIDITY AND CAPITAL RESOURCES

Working Capital

At At Percentage
December 31, 2006 September 30, 2006 Increase / (Decrease)
Current Assets $675,063 $854,960 (21.0)%
Current Liabilities (3,692,753) (2,914,370) 26.7%
Working Capital Surplus (Deficit) $(3,017,690) $(2,059,410) 46.5%

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Included in current liabilities are a total of $1,527,238 payable to a law firm of which one of our former officers and directors, is a partner. We are currently in negotiations with the former officer and director for the settlement of the amounts owed to him and his law firm.

Cash Flows

Three Months Ended December 31
2006 2005
Cash Flows used in Operating Activities $(767,895) $(623,299)
Cash Flows used in Investing Activities 5,634 (20,210)
Cash Flows from Financing Activities 677,508 174,408
Effects of Foreign Exchange Rates 6,158 (7,730)
Net Decrease in Cash During Period $(78,595) $(476,831)

During the period ended December 31, 2006, we obtained financing in the form of a EUR 500,000 loan. This loan is unsecured, non-interest bearing and payable upon demand.

Total loans payable at December 31, 2006 consist of the following amounts:

(a) $950,886, bearing interest at a rate of 7.5% per annum, secured by accounts receivable and repayable on or before December 31, 2006;


(b) $773,403, non-interest bearing, secured by accounts receivable and repayable on or before December 31, 2006;


(c) $122,185, bearing interest a rate of 7.5% per annum, unsecured and payable on or before December 31, 2006; and


(d) $1,319,261, non-interest bearing, unsecured and due on demand.


The amounts payable on or before December 31, 2006 have not yet been repaid and are past due. We are currently in negotiations with our creditors for the settlement and repayment of amounts owed to them.

As at December 31, 2006 we had cash in the amount of $108,837 and a working capital deficit of $3,017,690. We anticipate spending approximately $2,000,000 over the next 12 months in pursuing our plan of operation. We will require substantial additional financing in the next few months in order to pursue our current plan of operation.

Although we earned revenues during our fiscal year ended September 30, 2006, we did not earn significant revenues during the fiscal quarter ended December 31, 2006 and we have not yet achieved profitability. Our future financial results are uncertain due to a number of factors, many of which are outside of our control. These factors include, but are not limited to:

(a) our ability to commercially market our ThermoMobil and AquaMission products;


(b) our ability to develop a commercially marketable EnergyMission/Yellow Box product;


(c) our ability to raise additional capital necessary to implement our business strategy and plan of operation;


(d) our ability to compete with other existing technologies; and


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(e) the success of any marketing and promotional campaign which we conduct for our products once development is complete.


Due to the uncertainty regarding our future revenues and profitability, we expect that the majority of additional financing that we obtain, if any, will likely be in the form of equity financing. Our management does not expect sufficient debt financing to be available to us through traditional sources at this stage of our business.

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 are material to our stockholders.

CRITICAL ACCOUNTING POLICIES

The preparation of financial statements in conformity with generally accepted accounting principles requires our management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Our management routinely makes judgments and estimates about the effects of matters that are inherently uncertain.

We have identified certain accounting policies, described below, that are most important to the portrayal of our current financial condition and results of operations. Our significant accounting policies are disclosed in Note 3 to the interim financial statements included in this Quarterly Report.

Principles of Consolidation

The consolidated financial statements include the accounts of Aqua Society, Inc and our wholly owned subsidiary, Aqua Society GmbH, a German limited liability company (“Aqua GmbH”). All inter-company transactions have been eliminated.

Foreign Currency Translation

Our functional currency is United States dollars. Our subsidiary, Aqua GmbH, uses the Euro as its functional currency. Accordingly, assets and liabilities of Aqua GmbH are translated into US dollars at the exchange rate in effect at the balance sheet date and capital accounts are translated at historical rates. Income statement accounts are translated at the average rates of exchange prevailing during the period. Translation adjustments arising from the use of differing exchange rates from period to period are included in the Accumulated Other Comprehensive Gain/(Loss) account in Stockholders’ Equity.

Transactions undertaken in currencies other than the functional currency of the entity are translated using the exchange rate in effect as of the transaction date. Any exchange gains and losses would be included in the Statement of Operations.

Patents, Patent Rights and Amortization

Patents and patent rights are recorded at cost. We provide for the amortization of patents and patent rights on the straight-line basis over their estimated economic lives, estimated to be 5 years. Amortization is recorded upon the patents being awarded.

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RISKS AND UNCERTAINTIES

Need For Financing

We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability. We are likely to continue to need substantial additional financing in order to implement our long term business plan. There is no assurance that we will be able to acquire sufficient financing on terms acceptable to us or at all. If financing is not available or obtainable, our ability to meet our financial obligations and pursue our plan of operation will be substantially limited and investors may lose a substantial portion or all of their investment

Limited Operating History, Risks Of A New Business Venture

We are still in the process of developing our business and have only recently begun to earn revenues. Readers are cautioned that our past results may not be indicative of future performance.

Potential investors should be aware of the difficulties normally encountered by a new enterprise and the high rate of failure of such enterprises. The potential for future success must be considered in light of the problems, expenses, difficulties complications and delays encountered in connection with the development of a business in the area in which we intend to operate and in connection with the formation and commencement of operations of a new business in general. These include, but are not limited to, unanticipated problems relating to research and development programs, marketing, approvals by government agencies, competition and additional costs and expenses that may exceed current estimates. There is no history upon which to base any assumption as to the likelihood that we will prove successful, and there can be no assurance that we will ever achieve profitable operations.

If We Are Unable To Achieve Market Acceptance For Our Products, We Will Be Unable To Build Our Business

To date, we have completed technical development of our EnergyMission/Yellow Box, ThermoMobil and AquaMission products. However, we have only received a limited number of confirmed orders for these products. Our future success will depend upon the acceptance of our existing products, and other products that we develop, by the respective industries in which we intend to market those products. Achieving such acceptance will require significant investments in research and development and market development. The technologies upon which our products and services are based are relatively new and are evolving. Accordingly, in order to achieve commercial acceptance, we will have to educate prospective clients about the uses and benefits of our products.

Even If We Are Able To Develop A Commercial Market For Our Products, We May Not Have The Ability To Meet The Demand For Those Products

We intend to complete the construction of the initial AquaMission, ThermoMobil and EnergyMission/Yellow Box units ordered from us at our facilities located in Herten, Germany. However, the size of these facilities is limited.

We are currently in the process of establishing a wholly owned subsidiary in the Netherlands, with which we intend to establish a larger scale production facility. Further, we intend to seek supply contracts and/or joint venture/licensing agreements with independent manufacturing companies to manufacture our products on a large scale basis, however we have not yet entered into any such contracts or agreements.

Our Operations May Be Subject to Extensive Government Regulation

Our operations may be subject to extensive government regulations in the United States, Europe and elsewhere. In order to sell our products, we may have to satisfy numerous mandatory procedures,

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regulations, and safety standards established by international, federal and state regulatory agencies. Although we currently comply with stringent German regulations, there can be no assurance that we can successfully comply with all present and future government regulations worldwide.

Risks of International Business Operations

Although we are incorporated in the United States, the majority of our operating activities are conducted in Germany. Additionally, in the past, we have targeted markets for our products in the Persian Gulf and other developing parts of the world, such as Africa. As such, a significant portion of our business depends upon our ability to establish and maintain successful relationships with businesses and governments located outside of the United States. If we are unable to establish and maintain such relationships, we may not be able to implement our business plan or plan of operations.

In order to better manage the risks associated with our international operations, our management has decided to focus their business development efforts on markets near to our base of operations, such as Germany, the Netherlands and the rest of Europe.

Rapid Technological Changes In Our Industry Could Make Our Products Obsolete

The industry in which we intend to compete is characterized by rapid technological change and intense competition. New technologies, products and industry standards will develop at a rapid pace which could make our planned products obsolete. Our future success will depend upon our ability to develop and introduce product enhancements to address the needs of our customers.

Asserting And Defending Intellectual Property Rights May Impact Results Of Operations

The success of our business may depend on our ability to successfully defend our intellectual property rights. Future litigation may have a material impact on our financial condition even if we are successful in developing and marketing products. We may not be successful in defending or asserting our intellectual property rights.

An adverse outcome in any litigation or interference proceeding could subject us to significant liabilities to third parties and require us to cease using the technology that is at issue or to license the technology from third parties. In addition, a finding that any of our intellectual property rights are invalid could allow our competitors to more easily and cost-effectively compete. Thus, an unfavorable outcome in any patent litigation or interference proceeding could have a material adverse effect on our business, financial condition or results of operations.

The cost to us of any patent litigation or interference proceeding could be substantial. Uncertainties resulting from the initiation and continuation of patent litigation or interference proceedings could have a material adverse effect on our ability to compete in the marketplace. Patent litigation and interference proceedings could also absorb significant management time.

We May Be Subject To Product Liability Lawsuits

We may be subject to product liability claims. Such claims may absorb significant management time and could degrade our reputation and the marketability of our products. If product liability claims are made with respect to our products, we may need to recall the implicated product which could have a material adverse effect on our business, financial condition and results of operations. In addition, although we may maintain product liability insurance, we cannot be sure that such insurance will be adequate to cover potential product liability lawsuits. Insurance is expensive and in the future may not be available on acceptable terms, if at all. If a successful product liability claim or series of claims exceeds insurance coverage, it could have a material adverse effect on our business, financial condition and results of operations.

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If We Are Late In Filing Any Of Our Annual Or Quarterly Reports During The Next Two Years, Our Common Stock May Become Ineligible For Quotation On The OTC Bulletin Board, Which Would Negatively Affect The Market For Our Shares And Our Ability To Obtain Additional Financing.

On November 16, 2005, the SEC approved certain changes to NASD Rule 6530. As amended, NASD Rule 6530 provides that OTC Bulletin Board (“OTCBB”) issuers who are late in filing their annual or quarterly reports three times within a 24-month period will be ineligible for quotation on the OTCBB. In order to regain eligibility under this rule, the issuer would need to timely file all of its annual and quarterly reports due in a one year period. The amended NASD Rule 6530 does not apply to annual or quarterly reports for periods ended before October 1, 2005.

From time to time, we have been late in filing our quarterly and annual reports. If we are late in filing our annual or quarterly reports three times within a 24-month period, we may become ineligible for quotation on the OTCBB, which would negatively affect the market for our common stock. In addition, if our common stock is no longer eligible for quotation on the OTCBB, it may become more difficult for us to obtain additional equity financing as shares of our common stock will be less attractive to potential investors.

ITEM 3. CONTROLS AND PROCEDURES.

Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as of the end of the period covered by this report. Based on that evaluation, our principal executive officer and principal financial officer has concluded that our disclosure controls and procedures were not effective as we failed to timely file our periodic reports with the SEC on a number of occasions during the past fiscal year.

Our new management is in the process of taking measures to improve our disclosure controls and procedures in an effort to ensure that the information required to be disclosed is internally communicated and publicly reported within the time periods specified in the SEC’s rules and forms. In particular, we intend to engage outside consultants to assist us in the preparation of our accounting records and financial statements and will attempt to increase internal accountability and to clearly define internal communication channels in an effort to remedy the deficiencies identified by our principal executive officer and principal financial officer.

By working with our external consultants and our principal independent accountants, our management believes that the financial statements and the other information presented in this Quarterly Report are materially correct.

There were no changes in our internal control over financial reporting during the last fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

None.

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

All unregistered sales of our equity securities completed during our fiscal quarter ended December 31, 2006 have been previously reported in the Quarterly Reports on Form 10-QSB and Current Reports on Form 8-K that we filed during that period.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

None.

ITEM 5. OTHER INFORMATION.

Compensatory Arrangements Of Certain Officers

Effective December 28, 2006, we entered into management consulting services agreements with each of Robert Terberg, our current Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary, and currently a member of our Board of Directors, and Hugo van der Zee, currently the Chairman of our Board of Directors. The terms of our agreements with Mr. Terberg and Mr. van der Zee are disclosed in our Annual Report filed with the SEC on January 16, 2007.

ITEM 6. EXHIBITS.

Exhibit
Number Description of Exhibit
3.1 Restated Articles of Incorporation filed with the Nevada Secretary of State effective December 27, 2004.(5)
3.2 Bylaws, effective March 2, 2000.(1)
10.1 Share Purchase Agreement between Water-Capital-Holding Ltd., V G Tech, Inc., Aqua Society GmbH and Steve Livingston, dated for reference September 3, 2004.(2)
10.2 Agreement and Deed of Transfer between Water-Capital-Holding Ltd. and V G Tech, Inc. dated for reference September 22, 2004.(3)
10.3 Certified Translation of a Notarial

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 28.168.497 von Borealis am 07.03.07 16:48:17

Dilettantenladen eben

[krofisch]

Antwort auf Beitrag Nr.: 28.168.497 von Borealis am 07.03.07 16:48:17

wohinistmeinGeld, Leichtmatrose und Borealis sind noch nicht einmal in der Lage, einen LINK zu öffnen:

Bei mir öffnet sich eine pdf.Datei:

Bericht Kommunalwirtschaft Ausgabe Januar 2007
http://www.aqua-society.com/DOWNLOADS/Presseartikel/Kommunal…

[krofisch]

Antwort auf Beitrag Nr.: 28.169.495 von wohinistmeinGeld am 07.03.07 17:31:23

Dilettantenladen eben

Falsch!

Seit ihr evtl. einfach nur zu dumm, eine einfach pdf.Datei zu öffnen?!

Dilettanten eben

[westfale64]

#5006:
Aquas Lemmingabzocke, nachzulesen IN AQUAS EIGENEM QUARTALSBERICHT

In #5002 stehen die wichtigen Passagen aus Aquas Quartalsbericht.






Alles so peinlich, dass Aqua seinen Pusher losschicken muss um diese peinliche Selbstbedienung der Vorstände zuzuspamen.

[krofisch]

Antwort auf Beitrag Nr.: 28.169.961 von westfale64 am 07.03.07 17:53:01

Einfach zu schön der tägliche verzweifelte und vor allem kindische Hinweis auf die immer noch typische sehr kreative und merkwürdige \\'Übersetzungskunst\\' von \\'Pinochio\\',
der evtl. so manchen mit seinen kopierten Hasspostings doch sehr an ehemalige wegen Unfähigkeit entlassene Hamm-Mitarbeiter erinnert?

Macht nichts!

Das ORIGINAL steht ja hier:
#5038

[krofisch]

Antwort auf Beitrag Nr.: 28.169.961 von westfale64 am 07.03.07 17:53:01

Und schon wieder so viele herrliche aber wenigstens ungelogene Leerzeilen!

[westfale64]

Wollen Sie etwa bestreiten, dass genau diese Passagen (rot)IN AQUAS EIGENEM QUARTALSBERICHT stehen , Pusher ?
Kann schliesslich jeder nachlesen.
Oder hat Hamm Ihnen aufgetragen die peinlichen Fragen zuzumüllen, damit die Aqua-Bande auch weiterhin ihre Schrottaktien bei den Dummen abladen kann ?



Hier die wichtigsten Passagen aus Aquas aktuellem Quartalsbericht, die jedem zeigen dass es bei dieser leeren OTC-Hülle VGtech, die Hamm für 50000 kaufte und in Aqua Society umbenannte, nur um das Aussaugen des Aktionärsgeldes geht - mittels ungerechtfertigter „management fees“, überzogener Vorstandsgehälter und natürlich mittels Verkauf von 100 Mio.wertlosen Altaktien:


„Included in accounts payable and accrued liabilities is $77,498 (September 30, 2006: $79,358) due to directors of the Company and a former director of the Company.“Wofür kassieren die Direktoren dieser 8-Mann-Klitsche, die es im letzten Quartal gerade mal auf (verlustbringende)25000 Umsatz gebracht hat, 77000 Gehalt ?



„Included in loans payable is $1,527,238 (September 30, 2006: $1,441,507) due to a law firm of which a former director of the Company is a partner.“Wofür kassiert Direktor Stamm 1,5 Mio. Lohn ?

„By a management consulting contract dated September 30, 2004 and effective October 1, 2004, the Company’s subsididary (“GmbH”) agreed to pay EUR15,000 (US $19,789) per month to a managing director of GmbH“Wofür kassiert der nächste Direktor dieser Klitsche15000 im Monat ?



„By a management consulting contract dated December 12, 2005 and effective January 1, 2006, the GmbH agreed to pay EUR 20,000 (US $25,371) per month to March 31, 2006 and EUR 25,000 (US $31,714) per month to December 31, 2006 for technical services. Effective September 18, 2006, the contract was amended and the payment was decreased to EUR 10,000 (US$ 12,686) per month and extended to June 30, 2007. The management consulting contract is with a company owned by a director of the Company.“Für welche Leistung wird eine Firma des Direktors mit 10000-25000 entlohnt ?



„By management consulting agreements dated December 28, 2006, the Company agreed to pay directors of the Company a total of EUR 56,000 (US $73,879) for the period October 1, 2006 to December 31, 2006 and EUR 14,000 (US $18,470) per month for the period January 1, 2007 to September 30, 2007.“Wofür kriegen die Direktoren weitere 56000 im Quartal ?



„We anticipate spending approximately $2,000,000 in pursuing our plan of operation over the next twelve months. As of December 31, 2006, the date of our most recently available financial statements, we had a working capital deficit of $3,017,690. As such, we do not have sufficient working capital to meet our expected needs over the next twelve months. Although we have recently begun to earn revenues, we have not yet earned a net profit and we do not expect to achieve profitability in the near Future as we expect to continue to incur substantial product development, marketing and operating expenses.“2 Mio. brauchen diese Abzocker für die nächsten 12 Monate, damit sie das Aktionärsgeld weiterhin für ihre Gehaltszahlungen, „management fees“ u. ä. aussaugen können. Und das bei mittlerweile 3 Mio. Überschuldung.

„During our last fiscal year, we earned revenues from HVAC&R and energy optimization consulting services, and from equipment sales made in connection with the provision of those services.“Da kommen die verlustbringen Umsätze her. Herr Hamm lässt sich von den Aktionären nicht nur mit „management fees“ und Vorstandsgehältern bezahlen sondern auch noch als Auftragnehmer (HVAC&R)




„During the fiscal year ended December 31, 2006, our revenue decreased by 96.7% as compared to the same period ended in 2005.“Und selbst diese „Umsätze“ sind fast bei 0 angekommen.

„Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products,“Und hier der Beleg dafür, dass dieser Industriesimulator NOCH NIE eine Maschine verkauft gekriegt hat.


„Included in current liabilities are a total of $1,527,238 payable to a law firm of which one of our former officers and directors, is a partner. We are currently in negotiations with the former officer and director for the settlement of the amounts owed to him and his law firm.“Wofür kassiert Stamm diese 1,5 Mio. ?


„As at December 31, 2006 we had cash in the amount of $108,837 and a working capital deficit of $3,017,690.“Nur noch 100000 in der Kasse, aber 3 Mio. Überschuldung.

„We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability. We are likely to continue to need substantial additional financing in order to implement our long term business plan.“Und hier noch mal der Hinweis auf die drohende Insolvenz mangels Masse.











Bin gesannt wie Aquas Pusher das wieder schönlügen will.

[Leichtmatrose]

Antwort auf Beitrag Nr.: 28.169.558 von krofisch am 07.03.07 17:33:54

Ich nehme mal an, beim Blindfisch öffnet sich die Datei nur, weil er direkt an der Quelle sitzt.

Bei allen Anderen lässt sich nur eine leere pdf-Datei abrufen, die bei dem Versuch weiterzublättern eine Fehlermeldung erzeugt.

Die „Recklinghäuser Zeitung 22.12.2006“-Alufolien-Reklame lässt sich problemlos abrufen. Da fragt man sich doch, wer hier zum Downloaden zu blöd ist!

[krofisch]

Antwort auf Beitrag Nr.: 28.172.516 von Leichtmatrose am 07.03.07 19:54:20

Da fragt man sich doch, wer hier zum Downloaden zu blöd ist!


Meistens der jenige, der fragt!

[krofisch]

Antwort auf Beitrag Nr.: 28.170.894 von westfale64 am 07.03.07 18:43:40

Einfach zu schön der tägliche verzweifelte und vor allem kindische Hinweis auf die immer noch typische sehr kreative und merkwürdige \\\'Übersetzungskunst\\\' von \\\'Pinochio\\\',
der evtl. so manchen mit seinen kopierten Hasspostings doch sehr an ehemalige wegen Unfähigkeit entlassene Hamm-Mitarbeiter erinnert?

Macht nichts!

Das ORIGINAL steht ja hier:
http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

10QSB 1 form10qsb.htm QUARTERLY REPORT FOR THE PERIOD ENDED DECEMBER 31, 2006
--------------------------------------------------------------------------------

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-QSB

(Mark One)

[ X ] Quarterly Report Under Section 13 Or 15(d) Of The Securities Exchange Act Of 1934
For the quarterly period ended December 31, 2006

[ ] Transition Report Under Section 13 Or 15(d) Of The Securities Exchange Act
For the transition period from ________to ________

COMMISSION FILE NUMBER 000-50163

AQUA SOCIETY, INC.
(Exact name of small business issuer as specified in its charter)

NEVADA 52-2357931
(State or other jurisdiction of incorporation or (IRS Employer Identification No.)
organization)

Konrad - Adenauer Strasse 9-13
45699 Herten, Germany
(Address of principal executive offices)

011-49-6031-791-760
Issuer's telephone number

Not Applicable
Former name, former address and former fiscal year, if changed since last report

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 [ X ] No [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: As of February 20, 2007 the Issuer had 118,178,323 Shares of Common Stock outstanding.

Transitional Small Business Disclosure Format (check one): Yes [ ] No [X]

1


--------------------------------------------------------------------------------

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

2


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.

INTERIM CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2006

(Stated in US Dollars)

(Unaudited)


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED BALANCE SHEETS
December 31, 2006 and September 30, 2006
(Stated in US Dollars)
(Unaudited)

December 31, September 30,
ASSETS 2006 2006

Current
Cash $ 108,837 $ 187,432
Accounts receivable – trade 76,838 143,039
– other – Note 4 59,367 -
Government value added tax receivable 97,631 217,919
Inventory 332,389 306,569
Loans receivable 1 1

675,063 854,960
Investments – Note 3 2 2
Patents and patent rights 193,485 193,485
Equipment 53,811 65,343

$ 922,361 $ 1,113,790

LIABILITIES

Current
Accounts payable and accrued liabilities – Note 4 $ 527,018 $ 537,271
Loans payable – Notes 4 and 5 3,165,735 2,377,099

3,692,753 2,914,370

STOCKHOLDERS’ DEFICIENCY

Common stock, $0.001 par value – Notes 6 and 8
300,000,000 shares authorized
118,178,323 shares issued and outstanding (September 30, 2006:
118,178,323 shares) 118,179 118,179
Additional paid-in capital 28,690,854 28,609,612
Accumulated other comprehensive loss (246,705 ) (150,368 )
Accumulated deficit (31,332,720 ) (30,378,003 )

(2,770,392 ) (1,800,580 )

$ 922,361 $ 1,113,790

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Sales $ 25,441 $ 782,242
Less: cost of goods sold 580 593,010

24,861 189,232

General and administrative expenses:
Accounting and audit fees 73,443 57,121
Advertising and promotion 19,329 58,187
Amortization 5,899 6,584
Bad debts 28,431 43,685
Bank charges and interest 117 85
Consulting fees 36,634 177,085
Development costs – Note 4 268,919 412,455
Filing fees 867 121
Interest 57,256 57,088
Legal fees – Note 4 130,228 36,264
Management fees – Note 4 57,988 124,857
Office and miscellaneous 23,270 66,274
Rent 26,154 28,917
Salaries and benefits 154,052 96,888
Stock-based compensation 57,242 -
Transfer agent 225 815
Travel – Note 4 39,524 80,478
Write down of patents - 8,994
Write down of inventory - 63,928

(979,578 ) (1,319,826 )

Operating loss before other item (954,717 ) (1,130,594 )

Other item:
Interest income - 5,292

Net loss for the period (954,717 ) (1,125,302 )

Other comprehensive loss
Foreign currency adjustment (96,337 ) (2,551 )

Comprehensive loss for the period $ (1,051,054 ) $ (1,127,853 )

Basic loss per share $ (0.01 ) $ (0.01 )

Weighted average number of shares outstanding 118,178,323 115,771,988

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Cash flows used in Operating Activities
Net loss for the period $ (954,717 ) $ (1,125,302 )
Items not affecting cash:
Amortization 5,899 6,584
Stock-based compensation 57,242
Write-down of patents - 8,994
Write-down of inventory - 63,928
Interest imputed on loans payable 24,000 -
Changes in non-cash working capital items:
Accounts receivable 10,882 (126,415 )
Government value added tax receivable 126,004 12,329
Inventory (13,251 ) 9,748
Accounts payable and accrued liabilities (23,954 ) 526,835

(767,895 ) (623,299 )

Cash flows used in Investing Activities
Equipment disposal 5,634 48,178
Repayment of loans receivable - (68,388 )

5,634 (20,210 )

Cash flows from Financing Activity
Increase in loans payable 677,508 174,408

Effect of exchange rates on cash 6,158 (7,730 )

Decrease in cash during the period (78,595 ) (476,831 )

Cash, beginning of the period 187,432 658,949

Cash, end of the period $ 108,837 $ 182,118

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Capital stock issued for cash 1 $ 31,042 $ - - $ - $ - $ - $ 31,042
Contribution of assets - - 25,056 - - - - 25,056
Pursuant to the acquisition of Aqua
Society GmbH 10,000,000 10,000 - 34,000,000 34,000 - - 44,000
Exchange of shares (1 ) (31,042 ) - - - - - (31,042 )
Outstanding shares of Company
prior to acquisition 69,908,000 69,908 - - - - (194,748 ) (124,840 )
Unrealized loss on translation - - - - - (997 ) - (997 )
Net loss for the period - - - - - - (67,448 ) (67,448 )

Balance, September 30, 2004 79,908,000 79,908 25,056 34,000,000 34,000 (997 ) (262,196 ) (124,229 )

Issued for cash:
Pursuant to private placement - at $2.40 416,666 417 999,583 - - - - 1,000,000
- at $1.98 1,232,322 1,233 2,438,766 - - - - 2,439,999
Pursuant to exercise of options - at $1.70 215,000 215 365,285 - - - - 365,500
Conversion of special warrants 34,000,000 34,000 - (34,000,000 ) (34,000 ) - - -
Stock-based compensation - - 22,480,000 - - - - 22,480,000
Unrealized gain on translation - - - - - 89,594 - 89,594
Net loss for the year - - - - - - (25,787,558 ) (25,787,558 )

Balance, September 30, 2005 115,771,988 115,773 26,308,690 - - 88,597 (26,049,754 ) 463,306

Pursuant to private placement - at $1.04 1,160,960 1,161 1,206,237 - - - - 1,207,398
- at $0.88 1,245,375 1,245 1,094,685 - - - - 1,095,930
Unrealized loss on translation - - - - - (238,965 ) - (238,965 )
Net loss for the period - - - - - - (4,328,249 ) (4,328,249 )

Balance, September 30, 2006 118,178,323 118,179 28,609,612 - - (150,368 ) (30,378,003 ) (1,800,580 )

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

Continued

AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Stock-based compensation - - 57,242 - - - - 57,242
Unrealized loss on translation - - - - (96,337 ) - (96,337 )
Contribution of interest – Note 5 - - 24,000 - - - - 24,000
Net loss for the period - - - - - - (954,717 ) (954,717 )

Balance, December 31, 2006 118,178,323 $ 118,179 $ 28,690,854 - $ $ (246,705 ) $ (31,332,720 ) $ (2,770,392 )

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2006
(Stated in US Dollars)
(Unaudited)

Note 1 Interim Reporting

While information presented in the accompanying interim consolidated financial statements is unaudited, it includes all adjustments, which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented. All adjustments are of a normal recurring nature. The accompanying interim consolidated financial statements do not include all information and footnote disclosures required for an annual set of financial statements prepared under generally accepted accounting principles in the United States of America. The accompanying interim consolidated financial statements should be read in conjunction with the Company’s September 30, 2006 audited consolidated financial statements. Operating results from the period ended December 31, 2006 are not necessarily indicative of the results that can be expected for the year ending September 30, 2007.


Note 2 Nature and Continuance of Operations

These interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for the next twelve months. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. At December 31, 2006, the Company had not yet achieved profitable operations, has accumulated losses of $31,332,720 since its inception, has a working capital deficiency of $3,017,690 and expects to incur further losses in the development of its business, all of which casts substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations 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 considers that the Company will be able to obtain additional funds by equity financing and/or related party advances; however there is no assurance of additional funding being available.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 2
(Unaudited)

Note 3 Investments

i) UFI Tec GmbH

By an agreement dated November 30, 2004 and effective December 10, 2004, the Company acquired a 33% interest in UFI-Tech GmbH (“UFI”), a German limited company, for consideration of EUR 25,565 (US $32,476). During the year ended September 30, 2005, the Company wrote down the $32,476 investment and related loans receivable of $67,227 to their net realizable value of $1. During the year ended September 30, 2006, the Company sold 13.1% of their 33% interest (19.9% interest remains) for proceeds of EUR 10,072 (US $12,237) and wrote down an additional loan receivable of $66,094 to its net realizable value of $1.

ii) By an agreement dated February 18, 2006, the Company acquired a 51% interest in TMR GmbH (“TMR”), a German limited company, in consideration of EUR 12,750 (US $15,999). TMR is involved in the development, installation, distribution and management of renewable resources. At the date of acquisition, TMR had no business, assets or liabilities. During the year ended September 30, 2006, the Company wrote down its investment by $15,674 (EUR 12,749) to $1. During the three months ended December 31, 2006, the Company disposed of its interest in TMR for $1.

Note 4 Related Party Transactions – Note 7

The Company incurred the following amounts charged by directors of the Company, the brother of a director of the Company and a law firm of which a former director of the Company is a partner:

Three months ended
December 31,
2006 2005

Development costs $ 88,013 $ 191,595
Legal fees - 26,073
Management fees 57,988 124,857
Travel - 1,780

$ 146,001 $ 344,305

Accounts receivable – other includes $59,367 related to an advance to a former officer of the Company.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 3
(Unaudited)

Note 4 Related Party Transactions – Note 7 – (cont’d)

Included in accounts payable and accrued liabilities is $77,498 (September 30, 2006: $79,358) due to directors of the Company and a former director of the Company. These amounts are unsecured, non-interest bearing and have no specific terms for repayment.

Included in loans payable is $1,527,238 (September 30, 2006: $1,441,507) due to a law firm of which a former director of the Company is a partner.

Note 5 Loans Payable

Of the total loans outstanding at December 31, 2006, $950,886 (September 30, 2006: $883,822) bear interest at 7.5% per annum, are secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $773,403 (September 30, 2006: $743,675) are non-interest bearing, secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $1,319,261 (September 30, 2006: $634,276) are non-interest bearing, unsecured and due on demand, and $122,185 (September 30, 2006: $115,326) of loans payable bear interest of 7.5% per annum, are unsecured and are repayable on or before December 31, 2006. The loans due on or before December 31, 2006 were not repaid and are consequently in default. The company has imputed interest on the non-interest bearing loans at 10% per annum for a total of $24,000 during the three months ended December 31, 2006.

Note 6 Capital Stock – Note 8

Commitments:

Share Purchase Options

On December 21, 2006, the Company adopted a second stock incentive plan (the “2006 Stock Option Plan”) to provide incentives to employees, directors, officers and permitted consultants. The 2006 Stock Plan provides for the issuance of up to 7,000,000 options with a term to be determined by the plan administer or, if not so established, ten years. The maximum aggregate number of shares that may be optioned under the 2006 Stock Option Plan will be increased effective the first day of each of the Company’s fiscal quarters (“adjustment date”), beginning with the fiscal quarter commencing April 1, 2007 by an amount equal to the lesser of i) 15% of the outstanding shares on the first day of the applicable quarter less a) the number of shares of common stock that may be optioned and sold under the plan prior to the adjustment date and b) the number of shares of common stock that may be optioned and sold under any other stock option plan in effect as of the adjustment date or ii) such lesser number of shares of common stock as may be determined by the Board.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 4
(Unaudited)

Note 6 Capital Stock – Note 8 – (cont’d)

Commitments: – (cont’d)

Share Purchase Options – (cont’d)

A summary of the stock options outstanding as at December 31, 2006 and changes during the period is presented below:

Weighted
Average
Exercise
Shares Price

Options outstanding at September 30, 2006 7,535,000 $ 1.70
Granted 4,500,000 $ 0.40

Options outstanding at December 31, 2006 12,035,000 $ 1.21

Options exercisable at December 31, 2006 7,535,000

A summary of stock options outstanding at December 31, 2006, is as follows:

Exercise
Number Price Expiry Date

562,500 $0.40 April 1, 2009
562,500 $0.40 July 1, 2009
562,500 0.40 October 1, 2009
7,535,000 $1.70 October 15, 2009
562,500 $0.40 January 1, 2010
562,500 $0.40 April 1, 2010
562,500 $0.40 July 1, 2010
562,500 $0.40 October 1, 2010
562,500 $0.40 January 1, 2011

12,035,000

The Company used the Black-Scholes option pricing model to compute estimated fair value at each of the grant dates.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 5
(Unaudited)

Note 6 Capital Stock – Note 8– (cont’d)

Commitments – (cont’d)

Share Purchase Options – (cont’d)

The Black-Scholes option-pricing model requires the input of highly subjective assumptions including the expected price volatility. Changes in the subjective input assumptions can materially affect the fair value estimate and therefore the Black-Scholes model does not necessarily provide a reliable single measure of the fair value of the Company’s share purchase options.

The Company used the Black-Scholes option pricing model to compute the estimated fair value of the options granted during the three months ended December 31, 2006, based on the following assumptions:

Risk-free interest rate 4.84%
Dividend yield rate 0.00%
Price volatility 159.23%
Weighted average expected life of options 2.03 years
Weighted average fair value $0.36

The Company recognized stock-based compensation of $57,242 during the three months ended December 31, 2006.

Share Purchase Warrants

As at December 31, 2006, a total of 2,406,335 share purchase warrants exercisable into 2,406,335 common shares were outstanding as follows:

Exercise
Number Price Expiry Date

1,169,960 $1.30 February 9, 2008
1,245,375 $1.10 June 15, 2008

2,406,335


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 6
(Unaudited)

Note 7 Commitments

i) Lease Contracts

By four lease agreements dated September 30, 2004 and effective October 1, 2004, the Company entered into four lease contracts for the Company’s corporate head office. The leases require total payments of EUR 6,690 (US$8,826) per month. Two of the leases are effective until May 31, 2007 and the other two are effective until December 31, 2007. The leases will be automatically extended every year unless cancelled with six months advance notice.

Minimum future lease payments

September 30, 2007 $ 80,960
2008 12,144

$ 93,104

ii) Management/Consulting Contracts


a) By a management consulting contract dated September 30, 2004 and effective October 1, 2004, the Company’s subsididary (“GmbH”) agreed to pay EUR15,000 (US $19,789) per month to a managing director of GmbH for development, production and quality assurance services. The managing director of the GmbH is also a director of the Company. This contract is for an unlimited term but may be terminated by either party with six months advance notice.


b) By a consulting agreement dated October 1, 2004, the Company agreed to pay $2,000 per month to a consultant of the Company. The agreement is effective for a term of 5 years. The Company granted 500,000 common stock options upon signing of the agreement. The exercise price of the stock options is $1.70 per share and expires on October 15, 2009.


c) By a management consulting contract dated and effective October 1, 2004, the Company agreed to pay EUR 5,000 (US$6,274) per month for marketing and business development services. Effective October 1, 2005, the contract was amended to increase the payment to EUR 7,500 (US $9,411) per month. Effective October 1, 2006, the contract was amended to EUR 15,000 (US$19,028) per month for October, November and December, 2006. By an agreement dated November 1, 2006 and effective January 11, 2007, the Company agreed to the payment of EUR 2,000 (US $2,638) per month until December 31, 2007 and a 5% commission of gross sales to third parties which occurred as a result of the consultant’s work. The contract automatically renews for one year if not terminated at the end of a year by giving six months advance notice.



--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 7
(Unaudited)

Note 7 Commitments – (cont’d)

ii) Management/Consulting Contracts – (cont’d)

d) By a management consulting contract dated and effective January 1, 2005, the GmbH agreed to pay EUR 5,520 (US $7,002) per month for marketing, sales and distribution services. By an agreement dated November 10, 2006 and effective January 1, 2007, the contract was amended to decrease the payment to EUR 3,750 (US $4,947) per month with additional payments of EUR 10,000 (US $12,686) and EUR 5,000 (US$6,343) in November and December 2006 respectively. The contract ends on December 31, 2007 and may be terminated by either party with three months advance notice.

e) By a management consulting agreement dated August 1, 2005, the GmbH agreed to pay EUR 3,900 (US $5,145) per month for administration services for the research and development department. The contract is for an unlimited term and may be terminated by either party by giving six months advance notice.

f) By a management consulting contract dated December 12, 2005 and effective January 1, 2006, the GmbH agreed to pay EUR 20,000 (US $25,371) per month to March 31, 2006 and EUR 25,000 (US $31,714) per month to December 31, 2006 for technical services. Effective September 18, 2006, the contract was amended and the payment was decreased to EUR 10,000 (US$ 12,686) per month and extended to June 30, 2007. The management consulting contract is with a company owned by a director of the Company.

g) By a management consulting contract dated November 10, 2004, the Company agreed to pay EUR 500 (US $660) per press release to a former director of the Company. This contract is for an unlimited term but may be terminated by either party with one month advance notice.

h) By management consulting agreements dated December 28, 2006, the Company agreed to pay directors of the Company a total of EUR 56,000 (US $73,879) for the period October 1, 2006 to December 31, 2006 and EUR 14,000 (US $18,470) per month for the period January 1, 2007 to September 30, 2007. The contract is for an unlimited term but may be terminated by either party with three months advance notice.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 8
(Unaudited)

Note 8 Subsequent Event

Subsequent to December 31, 2007, the Company approved a private placement offering of 7,500,000 units at $0.30 per unit with each unit consisting of one share of the Company’s common stock and one-half share purchase warrant for total proceeds of $2,250,000. Each share purchase warrant entitles the holder to purchase one additional share of the Company’s common stock at $0.35 per share for a period of one year from the date of issuance of the units.


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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this Quarterly Report constitute "forward-looking statements". These statements, identified by words such as “plan”, "anticipate," "believe," "estimate," "should," "expect" and similar expressions include our expectations and objectives regarding our future financial position, operating results and business strategy. These statements reflect the current views of management with respect to future events and are subject to risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from those described in the forward-looking statements. Such risks and uncertainties include those set forth under the caption "Management's Discussion and Analysis or Plan of Operation" and elsewhere in this Quarterly Report. We do not intend to update the forward-looking information to reflect actual results or changes in the factors affecting such forward-looking information. We advise you to carefully review the reports and documents we file from time to time with the United States Securities and Exchange Commission (the “SEC”), particularly our Annual Reports on Form 10-KSB and our Current Reports on Form 8-K.

As used in this Quarterly Report, the terms "we", "us", "our", “the Company” and “Aqua Society” mean Aqua Society, Inc. unless otherwise indicated. All dollar amounts in this Quarterly Report are in U.S. dollars unless otherwise stated.

INTRODUCTION

The following discussion and analysis summarizes our plan of operation for the next twelve months, our results of operations for the three month period ended December 31, 2006 and changes in our financial condition from September 30, 2006. This discussion should be read in conjunction with the Management’s Discussion and Analysis or Plan of Operation included in our Annual Report on Form 10-KSB for the year ended September 30, 2006.

We were incorporated under the laws of the State of Nevada on March 2, 2000, under the name “V G Tech, Inc.”

On September 22, 2004, we completed the acquisition of Aqua Society GmbH (“Aqua GmbH”). Prior to our acquisition of Aqua GmbH, we were in the business of providing services in the areas of digital graphics and special effects. Upon completing the acquisition of Aqua GmbH, we abandoned this digital imaging business. We are now in the business of designing and developing applied technologies, and providing consulting services, in the areas of heating, ventilation, air conditioning, refrigeration, water purification, waste water treatment, and, our latest business segment, energy (collectively, the “Aqua Business”).

Effective December 27, 2004, we changed our name to “Aqua Society, Inc.” to better reflect the nature of our current business operations

Recent Corporate Developments

The following significant corporate developments have occurred since our fiscal year ended September 30, 2006:

1. After the completion of our 2006 fiscal year, we completed the construction of a demonstration prototype of our EnergyMission / Yellow Box technology. A media event to showcase this demonstration model was held at our facilities on December 21, 2006. This demonstration unit will be used by us for marketing and demonstration purposes as well as for research and development.


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2. On December 21, 2006, our Board of Directors approved and adopted our 2006 Stock Option Plan (the “2006 Option Plan”). Under the 2006 Option Plan, options may be granted for a maximum of 7,000,000 shares of our common stock. The maximum number of shares that may be optioned under the 2006 Option Plan will increase each fiscal quarter, beginning with the fiscal quarter commencing April 1, 2007, by an amount equal to 15% of the total increase in the number of shares of common stock outstanding or such lesser amount as may be determined by our Board of Directors.


A summary of our 2006 Option Plan is set forth in our Current Report on Form 8-K filed with the SEC on December 29, 2006. The full text of the 2006 Option Plan is attached as Exhibit 10.1 to our Current Report on Form 8-K filed with the SEC on December 29, 2006, and is incorporated by reference herein.


3. Also on December 21, 2006, our Board of Directors approved the grant of options under the 2006 Option Plan for 2,500,000 shares of our common stock at an exercise price of $0.40 per share to Mr. Terberg and options to purchase an aggregate of 2,000,000 shares of our commons stock to Mr. van der Zee, also at a price of $0.40. The options granted to each of Mr. Terberg and Mr. van der Zee vest in equal quarterly instalments, commencing on April 1, 2007 and expiring 2 years after the applicable vesting date.


Changes to the Board of Directors and Executive Officers

In addition to the above corporate developments, there have been a number of changes to our Board of Directors and executive officers since the end of our 2006 fiscal year.

Effective October 31, 2006, Robert Terberg replaced Petrus Lodestijn as our Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary and also as a member of our Board of Directors. Also effective on October 31, 2006, our Board of Directors was expanded by the appointment of Hubert Hamm as a director of the Company and by the appointment of Hugo van der Zee as the Chairman of the Company’s Board of Directors.

PLAN OF OPERATION

During the next twelve months, we will focus: (1) on the design and construction of products ordered from us; (2) on further developing the market for our products; and (3) on continuing to develop and improve our products. Specifically, our plan of operation for the next twelve months involves the following:

1. Design and Construction of Ordered Units: During the next twelve months, we will work on the design and construction of the waste heat power generation, AquaMission and ThermoMobil units for which we have received orders.


2. Market Development Activities: Over the next twelve months we intend to do the following in an effort to continue developing a market for our products and services:


(a) We have completed the construction of a prototype EnergyMission / Yellow Box unit that we will use for marketing and demonstration purposes, as well as for ongoing research and development. The prototype unit will be used by us to demonstrate the effectiveness of our technology to trade media and industry representatives on an ongoing basis.


(b) We are also in the process of setting up a wholly owned subsidiary in the Netherlands (the “Dutch Subsidiary”), through which we will seek to promote all of our products in the “Benelux” countries (Belgium, the Netherlands and Luxemberg). In addition, we intend to use the Dutch Subsidiary to establish an additional production facility to be located in


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the Netherlands. This production facility is expected to enable us to significantly expand our production capabilities from the limited facilities located in Herten, Germany. The Dutch Subsidiary is expected to be based in Zevenaar, near Arnhem, in the east of the Netherlands.


(c) We will continue to attempt to market the AquaMission combined air-conditioning and drinking water product in geographic locations with high ambient temperatures and relative humidity but without readily available sources of fresh water, such as the Persian Gulf and the Middle East. Three demonstration models of the AquaMission are currently on location in the Middle East. We are currently in the process of seeking new sales agents for our products in the Middle East.


We will continue to try and generate sales in the Middle East using these demonstration models.


In addition to these activities, we may also seek to increase brand awareness through various advertising activities and sponsorships.

3. Product Development Activities: During the next twelve months, we will also continue to work on further developing and improving our existing products in an effort to increase their marketability. As part of these efforts, we have developed and built a demonstration model of our Yellow Box technology.


We are also in the process of constructing a high-tech “climate room” that will allow us to simulate the world’s various humidity and temperature zones. This “climate room” will assist us in optimizing our AquaMission unit for different geographic locations.


We anticipate spending approximately $2,000,000 in pursuing our plan of operation over the next twelve months. As of December 31, 2006, the date of our most recently available financial statements, we had a working capital deficit of $3,017,690. As such, we do not have sufficient working capital to meet our expected needs over the next twelve months. Although we have recently begun to earn revenues, we have not yet earned a net profit and we do not expect to achieve profitability in the near future as we expect to continue to incur substantial product development, marketing and operating expenses. We are likely to continue to need substantial additional financing in order to implement our plan of operation. Our management expects that any additional financing that we obtain will likely be in the form of equity financing.

Our actual expenditures and business plan may differ from the one stated above. Our Board of Directors may decide not to pursue this plan. In addition, we may modify the plan based on available financing.

RESULTS OF OPERATIONS

First Quarter Summary

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Revenue $25,441 $782,242 (96.7)%
Cost of Goods Sold (580) (593,010) (99.9)%
General and Administrative Expenses (979,578) (1,319,826) (25.8)%
Other Items Nil (5,292) (100.0)%
Net Loss $(954,717) $(1,125,302) (15.2)%

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Revenues

During our last fiscal year, we earned revenues from HVAC&R and energy optimization consulting services, and from equipment sales made in connection with the provision of those services. However, we do not have a long-term history of earning revenues and, as a result, we are unable to accurately forecast future revenues. Readers are cautioned that our past operating results may not be indicative of future performance.

During the fiscal year ended December 31, 2006, our revenue decreased by 96.7% as compared to the same period ended in 2005. Since their appointment in October, 2006, our new executive officers and directors have been conducting a company wide review of our operations. During this period, we scaled back our HVAC&R and energy optimizing consulting activities. As a result, our revenues decreased substantially.

During the next twelve months, we intend to concentrate our resources on developing the market for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, as we believe that these products will provide us with the greatest opportunity for future profitability. As a result, we may continue to scale back the HVAC&R and energy optimization consulting services that we have provided in the past.

Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products, and there are no assurances that we will be able earn such revenues in the future.

Operating Costs and Expenses

Our operating expenses for the quarterly period ended December 31, 2006 consisted of the following:

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Accounting and audit fees $73,443 $57,121 28.6%
Advertising and promotion 19,329 58,187 (66.8)%
Amortization 5,899 6,584 (10.4)%
Bad debts 28,431 43,685 (34.9)%
Bank charges and interest 117 85 37.6%
Consulting fees 36,634 177,085 (79.3)%
Development costs 268,919 412,455 (34.8)%
Filing fees 867 121 616.5%
Interest 57,256 57,088 0.3%
Legal fees 130,228 36,264 259.1%
Management fees 57,988 124,857 (53.6)%
Office and miscellaneous 23,270 66,274 (64.9)%
Rent 26,154 28,917 (9.6)%
Salaries and benefits 154,052 96,888 (59.0)%
Stock-based compensation 57,242 Nil 100.0%
Transfer agent 225 815 (72.4)%

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Travel 39,524 80,478 (50.9)%
Write down of patents Nil 8,994 (100.0)%
Write down of inventory Nil 63,928 (100.0)%
Total General and Administrative Expenses $979,578 $1,319,826 (25.8)%

Our general and administrative expenses decreased by $340,248, or 25.8%, during the three month period ended December 31, 2006 as compared to 2005. This decrease in our general and administrative expenses was primarily generated as a result of the efforts of our current management to streamline our operations. During the next few months, we expect that our general and administrative expenses will continue to fluctuate somewhat as we continue to review and overhaul our current operations.

Management fees decreased by $66,869, or 53.6%, during the quarter ended December 31, 2006, primarily because of the termination of a management services contract under which we had been obligated to pay management fees of EUR 20,000 per month to a law firm of which a former officer and director is a partner. Also, during the last fiscal quarter, we scaled back some of our product development activities as our management conducted a company wide assessment of our operations. As a result, development costs, and consulting fees associated with our development activities, also decreased significantly during our last fiscal quarter. Office and travel expenses also decreased primarily as a result of our efforts to streamline our operations. Also contributing to the overall decrease in our general and administrative expenses from the quarter ended December 31, 2005 was the fact that, during our December 31, 2005 fiscal quarter, we recognized one-time patent and inventory write down charges totaling $72,922. No patent or inventory write down charges were recognized for the period ended December 31, 2006.

Offsetting the above decreases were significant increases in accounting and audit fees, legal fees and salaries and benefits. The increase in legal fees relates primarily to amounts incurred in connection with the negotiation of our patent licensing agreement with Ecoenergy Patent GmbH and in connection with the restructuring of our operations by our new management. The events giving rise to the additional amounts spent on legal fees are not expected to be ongoing. Accounting and auditing fees increased as a result of an increase in the amounts charged by our consulting accountants and by our independent auditors. The increase in salaries and benefits was a result of the hiring of two additional non-management employees.

Also, during the period ended December 31, 2007, we recorded stock-based compensation expenses of $57,242 on account of stock options granted to certain of our officers and directors during the period. No options or other stock-based compensation were granted during the period ended December 31, 2005.

LIQUIDITY AND CAPITAL RESOURCES

Working Capital

At At Percentage
December 31, 2006 September 30, 2006 Increase / (Decrease)
Current Assets $675,063 $854,960 (21.0)%
Current Liabilities (3,692,753) (2,914,370) 26.7%
Working Capital Surplus (Deficit) $(3,017,690) $(2,059,410) 46.5%

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Included in current liabilities are a total of $1,527,238 payable to a law firm of which one of our former officers and directors, is a partner. We are currently in negotiations with the former officer and director for the settlement of the amounts owed to him and his law firm.

Cash Flows

Three Months Ended December 31
2006 2005
Cash Flows used in Operating Activities $(767,895) $(623,299)
Cash Flows used in Investing Activities 5,634 (20,210)
Cash Flows from Financing Activities 677,508 174,408
Effects of Foreign Exchange Rates 6,158 (7,730)
Net Decrease in Cash During Period $(78,595) $(476,831)

During the period ended December 31, 2006, we obtained financing in the form of a EUR 500,000 loan. This loan is unsecured, non-interest bearing and payable upon demand.

Total loans payable at December 31, 2006 consist of the following amounts:

(a) $950,886, bearing interest at a rate of 7.5% per annum, secured by accounts receivable and repayable on or before December 31, 2006;


(b) $773,403, non-interest bearing, secured by accounts receivable and repayable on or before December 31, 2006;


(c) $122,185, bearing interest a rate of 7.5% per annum, unsecured and payable on or before December 31, 2006; and


(d) $1,319,261, non-interest bearing, unsecured and due on demand.


The amounts payable on or before December 31, 2006 have not yet been repaid and are past due. We are currently in negotiations with our creditors for the settlement and repayment of amounts owed to them.

As at December 31, 2006 we had cash in the amount of $108,837 and a working capital deficit of $3,017,690. We anticipate spending approximately $2,000,000 over the next 12 months in pursuing our plan of operation. We will require substantial additional financing in the next few months in order to pursue our current plan of operation.

Although we earned revenues during our fiscal year ended September 30, 2006, we did not earn significant revenues during the fiscal quarter ended December 31, 2006 and we have not yet achieved profitability. Our future financial results are uncertain due to a number of factors, many of which are outside of our control. These factors include, but are not limited to:

(a) our ability to commercially market our ThermoMobil and AquaMission products;


(b) our ability to develop a commercially marketable EnergyMission/Yellow Box product;


(c) our ability to raise additional capital necessary to implement our business strategy and plan of operation;


(d) our ability to compete with other existing technologies; and


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(e) the success of any marketing and promotional campaign which we conduct for our products once development is complete.


Due to the uncertainty regarding our future revenues and profitability, we expect that the majority of additional financing that we obtain, if any, will likely be in the form of equity financing. Our management does not expect sufficient debt financing to be available to us through traditional sources at this stage of our business.

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 are material to our stockholders.

CRITICAL ACCOUNTING POLICIES

The preparation of financial statements in conformity with generally accepted accounting principles requires our management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Our management routinely makes judgments and estimates about the effects of matters that are inherently uncertain.

We have identified certain accounting policies, described below, that are most important to the portrayal of our current financial condition and results of operations. Our significant accounting policies are disclosed in Note 3 to the interim financial statements included in this Quarterly Report.

Principles of Consolidation

The consolidated financial statements include the accounts of Aqua Society, Inc and our wholly owned subsidiary, Aqua Society GmbH, a German limited liability company (“Aqua GmbH”). All inter-company transactions have been eliminated.

Foreign Currency Translation

Our functional currency is United States dollars. Our subsidiary, Aqua GmbH, uses the Euro as its functional currency. Accordingly, assets and liabilities of Aqua GmbH are translated into US dollars at the exchange rate in effect at the balance sheet date and capital accounts are translated at historical rates. Income statement accounts are translated at the average rates of exchange prevailing during the period. Translation adjustments arising from the use of differing exchange rates from period to period are included in the Accumulated Other Comprehensive Gain/(Loss) account in Stockholders’ Equity.

Transactions undertaken in currencies other than the functional currency of the entity are translated using the exchange rate in effect as of the transaction date. Any exchange gains and losses would be included in the Statement of Operations.

Patents, Patent Rights and Amortization

Patents and patent rights are recorded at cost. We provide for the amortization of patents and patent rights on the straight-line basis over their estimated economic lives, estimated to be 5 years. Amortization is recorded upon the patents being awarded.

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RISKS AND UNCERTAINTIES

Need For Financing

We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability. We are likely to continue to need substantial additional financing in order to implement our long term business plan. There is no assurance that we will be able to acquire sufficient financing on terms acceptable to us or at all. If financing is not available or obtainable, our ability to meet our financial obligations and pursue our plan of operation will be substantially limited and investors may lose a substantial portion or all of their investment

Limited Operating History, Risks Of A New Business Venture

We are still in the process of developing our business and have only recently begun to earn revenues. Readers are cautioned that our past results may not be indicative of future performance.

Potential investors should be aware of the difficulties normally encountered by a new enterprise and the high rate of failure of such enterprises. The potential for future success must be considered in light of the problems, expenses, difficulties complications and delays encountered in connection with the development of a business in the area in which we intend to operate and in connection with the formation and commencement of operations of a new business in general. These include, but are not limited to, unanticipated problems relating to research and development programs, marketing, approvals by government agencies, competition and additional costs and expenses that may exceed current estimates. There is no history upon which to base any assumption as to the likelihood that we will prove successful, and there can be no assurance that we will ever achieve profitable operations.

If We Are Unable To Achieve Market Acceptance For Our Products, We Will Be Unable To Build Our Business

To date, we have completed technical development of our EnergyMission/Yellow Box, ThermoMobil and AquaMission products. However, we have only received a limited number of confirmed orders for these products. Our future success will depend upon the acceptance of our existing products, and other products that we develop, by the respective industries in which we intend to market those products. Achieving such acceptance will require significant investments in research and development and market development. The technologies upon which our products and services are based are relatively new and are evolving. Accordingly, in order to achieve commercial acceptance, we will have to educate prospective clients about the uses and benefits of our products.

Even If We Are Able To Develop A Commercial Market For Our Products, We May Not Have The Ability To Meet The Demand For Those Products

We intend to complete the construction of the initial AquaMission, ThermoMobil and EnergyMission/Yellow Box units ordered from us at our facilities located in Herten, Germany. However, the size of these facilities is limited.

We are currently in the process of establishing a wholly owned subsidiary in the Netherlands, with which we intend to establish a larger scale production facility. Further, we intend to seek supply contracts and/or joint venture/licensing agreements with independent manufacturing companies to manufacture our products on a large scale basis, however we have not yet entered into any such contracts or agreements.

Our Operations May Be Subject to Extensive Government Regulation

Our operations may be subject to extensive government regulations in the United States, Europe and elsewhere. In order to sell our products, we may have to satisfy numerous mandatory procedures,

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regulations, and safety standards established by international, federal and state regulatory agencies. Although we currently comply with stringent German regulations, there can be no assurance that we can successfully comply with all present and future government regulations worldwide.

Risks of International Business Operations

Although we are incorporated in the United States, the majority of our operating activities are conducted in Germany. Additionally, in the past, we have targeted markets for our products in the Persian Gulf and other developing parts of the world, such as Africa. As such, a significant portion of our business depends upon our ability to establish and maintain successful relationships with businesses and governments located outside of the United States. If we are unable to establish and maintain such relationships, we may not be able to implement our business plan or plan of operations.

In order to better manage the risks associated with our international operations, our management has decided to focus their business development efforts on markets near to our base of operations, such as Germany, the Netherlands and the rest of Europe.

Rapid Technological Changes In Our Industry Could Make Our Products Obsolete

The industry in which we intend to compete is characterized by rapid technological change and intense competition. New technologies, products and industry standards will develop at a rapid pace which could make our planned products obsolete. Our future success will depend upon our ability to develop and introduce product enhancements to address the needs of our customers.

Asserting And Defending Intellectual Property Rights May Impact Results Of Operations

The success of our business may depend on our ability to successfully defend our intellectual property rights. Future litigation may have a material impact on our financial condition even if we are successful in developing and marketing products. We may not be successful in defending or asserting our intellectual property rights.

An adverse outcome in any litigation or interference proceeding could subject us to significant liabilities to third parties and require us to cease using the technology that is at issue or to license the technology from third parties. In addition, a finding that any of our intellectual property rights are invalid could allow our competitors to more easily and cost-effectively compete. Thus, an unfavorable outcome in any patent litigation or interference proceeding could have a material adverse effect on our business, financial condition or results of operations.

The cost to us of any patent litigation or interference proceeding could be substantial. Uncertainties resulting from the initiation and continuation of patent litigation or interference proceedings could have a material adverse effect on our ability to compete in the marketplace. Patent litigation and interference proceedings could also absorb significant management time.

We May Be Subject To Product Liability Lawsuits

We may be subject to product liability claims. Such claims may absorb significant management time and could degrade our reputation and the marketability of our products. If product liability claims are made with respect to our products, we may need to recall the implicated product which could have a material adverse effect on our business, financial condition and results of operations. In addition, although we may maintain product liability insurance, we cannot be sure that such insurance will be adequate to cover potential product liability lawsuits. Insurance is expensive and in the future may not be available on acceptable terms, if at all. If a successful product liability claim or series of claims exceeds insurance coverage, it could have a material adverse effect on our business, financial condition and results of operations.

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If We Are Late In Filing Any Of Our Annual Or Quarterly Reports During The Next Two Years, Our Common Stock May Become Ineligible For Quotation On The OTC Bulletin Board, Which Would Negatively Affect The Market For Our Shares And Our Ability To Obtain Additional Financing.

On November 16, 2005, the SEC approved certain changes to NASD Rule 6530. As amended, NASD Rule 6530 provides that OTC Bulletin Board (“OTCBB”) issuers who are late in filing their annual or quarterly reports three times within a 24-month period will be ineligible for quotation on the OTCBB. In order to regain eligibility under this rule, the issuer would need to timely file all of its annual and quarterly reports due in a one year period. The amended NASD Rule 6530 does not apply to annual or quarterly reports for periods ended before October 1, 2005.

From time to time, we have been late in filing our quarterly and annual reports. If we are late in filing our annual or quarterly reports three times within a 24-month period, we may become ineligible for quotation on the OTCBB, which would negatively affect the market for our common stock. In addition, if our common stock is no longer eligible for quotation on the OTCBB, it may become more difficult for us to obtain additional equity financing as shares of our common stock will be less attractive to potential investors.

ITEM 3. CONTROLS AND PROCEDURES.

Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as of the end of the period covered by this report. Based on that evaluation, our principal executive officer and principal financial officer has concluded that our disclosure controls and procedures were not effective as we failed to timely file our periodic reports with the SEC on a number of occasions during the past fiscal year.

Our new management is in the process of taking measures to improve our disclosure controls and procedures in an effort to ensure that the information required to be disclosed is internally communicated and publicly reported within the time periods specified in the SEC’s rules and forms. In particular, we intend to engage outside consultants to assist us in the preparation of our accounting records and financial statements and will attempt to increase internal accountability and to clearly define internal communication channels in an effort to remedy the deficiencies identified by our principal executive officer and principal financial officer.

By working with our external consultants and our principal independent accountants, our management believes that the financial statements and the other information presented in this Quarterly Report are materially correct.

There were no changes in our internal control over financial reporting during the last fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

None.

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

All unregistered sales of our equity securities completed during our fiscal quarter ended December 31, 2006 have been previously reported in the Quarterly Reports on Form 10-QSB and Current Reports on Form 8-K that we filed during that period.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

None.

ITEM 5. OTHER INFORMATION.

Compensatory Arrangements Of Certain Officers

Effective December 28, 2006, we entered into management consulting services agreements with each of Robert Terberg, our current Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary, and currently a member of our Board of Directors, and Hugo van der Zee, currently the Chairman of our Board of Directors. The terms of our agreements with Mr. Terberg and Mr. van der Zee are disclosed in our Annual Report filed with the SEC on January 16, 2007.

ITEM 6. EXHIBITS.

Exhibit
Number Description of Exhibit
3.1 Restated Articles of Incorporation filed with the Nevada Secretary of State effective December 27, 2004.(5)
3.2 Bylaws, effective March 2, 2000.(1)
10.1 Share Purchase Agreement between Water-Capital-Holding Ltd., V G Tech, Inc., Aqua Society GmbH and Steve Livingston, dated for reference September 3, 2004.(2)
10.2 Agreement and Deed of Transfer between Water-Capital-Holding Ltd. and V G Tech, Inc. dated for reference September 22, 2004.(3)
10.3 Certifie

[krofisch]

Antwort auf Beitrag Nr.: 28.172.516 von Leichtmatrose am 07.03.07 19:54:20

wohinistmeinGeld, Leichtmatrose und Borealis sind noch nicht einmal in der Lage, einen LINK zu öffnen:

Bei mir öffnet sich ohne Probleme und fehlerfrei eine pdf.Datei:

Bericht Kommunalwirtschaft Ausgabe Januar 2007
http://www.aqua-society.com/DOWNLOADS/Presseartikel/Kommunal…

[wohinistmeinGeld]

bei mir öffnen sich masenhaft pdf´s, nur die auf der Seite des Dilettantenhaufens nicht
Daß die Datei dort öffnet von wo sie eingestellt wird ist irgendwie verständlich. Hat er sich schon wieder verraten.

[krofisch]

!

Dieser Beitrag wurde vom System automatisch gesperrt. Bei Fragen wenden Sie sich bitte an [e-mail]

[krofisch]

Antwort auf Beitrag Nr.: 28.175.122 von wohinistmeinGeld am 07.03.07 22:30:57

Hat er sich schon wieder verraten.

Du hast hier wieder zum x-ten Mal nur deine '(Un-?)Fähigkeiten' verraten!

[Leichtmatrose]

Antwort auf Beitrag Nr.: 28.175.109 von krofisch am 07.03.07 22:30:16

Bei mir öffnet sich auch eine Datei, nur ist sie ebenso leer und hohl wie ALLES bei aqua society!

http://www.manager-magazin.de/geld/geldanlage/0,2828,469388,…

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 28.175.427 von krofisch am 07.03.07 22:47:30

meinst du etwa so unfähig wie ihr irgendwas mal zu produzieren und das dann auch noch verkaufen?
Oder so unfähig wie ihr mal Gewinn zu machen?
Oder meinst du nur so unfähig wie ihr im Ankündigungen von Geschäften seit die dann nicht umgesetzt werden können?

Habt ihr wenigstens inzwischen eure in der Nachbarschaft stehende Biogasanlage gefunden?
Zur Erinnerung aus der Pressekonferenz zur Yellowbox:
Bei der Frage, ob es bereits Kontakte zur Bertlicher Biogas-Anlage gibt - nur einen Steinwurf entfernt -, stutzt Hubert Hamm. Er kennt die Anlage nicht.
Ihr könnt ja mal einen Taxifahrer fragen der kennt sich sicher besser aus als ihr, vieleicht nicht in Duabi, aber um Herten rum ganz sicher.

Ein hoch auf solche hochqualifizierte deutsche Unternehmen
Aber eigentlich ist Aqua eine Schande für dieses Land.

[Borealis]

In dem Presseartikel steht soviel Müll drin, daß er von keinem Spam-Filter durchgelassen wird. Deshalb erscheinen bloß drei leere Blätter.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 28.176.613 von Borealis am 08.03.07 07:37:41

Spam-Filter = Müll-Schlucker

[westfale64]

Hier die wichtigsten Passagen aus Aquas aktuellem Quartalsbericht, die jedem zeigen dass es bei dieser leeren OTC-Hülle VGtech, die Hamm für 50000 kaufte und in Aqua Society umbenannte, nur um das Aussaugen des Aktionärsgeldes geht - mittels ungerechtfertigter „management fees“, überzogener Vorstandsgehälter und natürlich mittels Verkauf von 100 Mio.wertlosen Altaktien:


„Included in accounts payable and accrued liabilities is $77,498 (September 30, 2006: $79,358) due to directors of the Company and a former director of the Company.“Wofür kassieren die Direktoren dieser 8-Mann-Klitsche, die es im letzten Quartal gerade mal auf (verlustbringende)25000 Umsatz gebracht hat, 77000 Gehalt ?



„Included in loans payable is $1,527,238 (September 30, 2006: $1,441,507) due to a law firm of which a former director of the Company is a partner.“Wofür kassiert Direktor Stamm 1,5 Mio. Lohn ?

„By a management consulting contract dated September 30, 2004 and effective October 1, 2004, the Company’s subsididary (“GmbH”) agreed to pay EUR15,000 (US $19,789) per month to a managing director of GmbH“Wofür kassiert der nächste Direktor dieser Klitsche15000 im Monat ?


„By a management consulting contract dated December 12, 2005 and effective January 1, 2006, the GmbH agreed to pay EUR 20,000 (US $25,371) per month to March 31, 2006 and EUR 25,000 (US $31,714) per month to December 31, 2006 for technical services. Effective September 18, 2006, the contract was amended and the payment was decreased to EUR 10,000 (US$ 12,686) per month and extended to June 30, 2007. The management consulting contract is with a company owned by a director of the Company.“Für welche Leistung wird eine Firma des Direktors mit 10000-25000 entlohnt ?


„By management consulting agreements dated December 28, 2006, the Company agreed to pay directors of the Company a total of EUR 56,000 (US $73,879) for the period October 1, 2006 to December 31, 2006 and EUR 14,000 (US $18,470) per month for the period January 1, 2007 to September 30, 2007.“Wofür kriegen die Direktoren weitere 56000 im Quartal ?


„We anticipate spending approximately $2,000,000 in pursuing our plan of operation over the next twelve months. As of December 31, 2006, the date of our most recently available financial statements, we had a working capital deficit of $3,017,690. As such, we do not have sufficient working capital to meet our expected needs over the next twelve months. Although we have recently begun to earn revenues, we have not yet earned a net profit and we do not expect to achieve profitability in the near Future as we expect to continue to incur substantial product development, marketing and operating expenses.“2 Mio. brauchen diese Abzocker für die nächsten 12 Monate, damit sie das Aktionärsgeld weiterhin für ihre Gehaltszahlungen, „management fees“ u. ä. aussaugen können. Und das bei mittlerweile 3 Mio. Überschuldung.
„During our last fiscal year, we earned revenues from HVAC&R and energy optimization consulting services, and from equipment sales made in connection with the provision of those services.“Da kommen die verlustbringen Umsätze her. Herr Hamm lässt sich von den Aktionären nicht nur mit „management fees“ und Vorstandsgehältern bezahlen sondern auch noch als Auftragnehmer (HVAC&R)




„During the fiscal year ended December 31, 2006, our revenue decreased by 96.7% as compared to the same period ended in 2005.“Und selbst diese „Umsätze“ sind fast bei 0 angekommen.

„Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products,“Und hier der Beleg dafür, dass dieser Industriesimulator NOCH NIE eine Maschine verkauft gekriegt hat.

„Included in current liabilities are a total of $1,527,238 payable to a law firm of which one of our former officers and directors, is a partner. We are currently in negotiations with the former officer and director for the settlement of the amounts owed to him and his law firm.“Wofür kassiert Stamm diese 1,5 Mio. ?


„As at December 31, 2006 we had cash in the amount of $108,837 and a working capital deficit of $3,017,690.“Nur noch 100000 in der Kasse, aber 3 Mio. Überschuldung.
„We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability. We are likely to continue to need substantial additional financing in order to implement our long term business plan.“Und hier noch mal der Hinweis auf die drohende Insolvenz mangels Masse.











Bin gesannt wie Aquas Pusher das wieder schönlügen will.

[krofisch]

Antwort auf Beitrag Nr.: 28.175.699 von Leichtmatrose am 07.03.07 23:07:22

nur ist sie ebenso leer und hohl wie ALLES bei
DIR?

[krofisch]

Antwort auf Beitrag Nr.: 28.176.613 von Borealis am 08.03.07 07:37:41

daß er von keinem Spam-Filter durchgelassen wird

Bei einem LINK auf eine pdf.Datei?

Dümmer gehts es wohl kaum noch!

[krofisch]

Antwort auf Beitrag Nr.: 28.184.216 von westfale64 am 08.03.07 15:15:58

Und hier extra für westfale64 wieder das ORIGINAL:

http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

10QSB 1 form10qsb.htm QUARTERLY REPORT FOR THE PERIOD ENDED DECEMBER 31, 2006
--------------------------------------------------------------------------------

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-QSB

(Mark One)

[ X ] Quarterly Report Under Section 13 Or 15(d) Of The Securities Exchange Act Of 1934
For the quarterly period ended December 31, 2006

[ ] Transition Report Under Section 13 Or 15(d) Of The Securities Exchange Act
For the transition period from ________to ________

COMMISSION FILE NUMBER 000-50163

AQUA SOCIETY, INC.
(Exact name of small business issuer as specified in its charter)

NEVADA 52-2357931
(State or other jurisdiction of incorporation or (IRS Employer Identification No.)
organization)

Konrad - Adenauer Strasse 9-13
45699 Herten, Germany
(Address of principal executive offices)

011-49-6031-791-760
Issuer's telephone number

Not Applicable
Former name, former address and former fiscal year, if changed since last report

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 [ X ] No [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: As of February 20, 2007 the Issuer had 118,178,323 Shares of Common Stock outstanding.

Transitional Small Business Disclosure Format (check one): Yes [ ] No [X]

1


--------------------------------------------------------------------------------

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

2


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.

INTERIM CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2006

(Stated in US Dollars)

(Unaudited)


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED BALANCE SHEETS
December 31, 2006 and September 30, 2006
(Stated in US Dollars)
(Unaudited)

December 31, September 30,
ASSETS 2006 2006

Current
Cash $ 108,837 $ 187,432
Accounts receivable – trade 76,838 143,039
– other – Note 4 59,367 -
Government value added tax receivable 97,631 217,919
Inventory 332,389 306,569
Loans receivable 1 1

675,063 854,960
Investments – Note 3 2 2
Patents and patent rights 193,485 193,485
Equipment 53,811 65,343

$ 922,361 $ 1,113,790

LIABILITIES

Current
Accounts payable and accrued liabilities – Note 4 $ 527,018 $ 537,271
Loans payable – Notes 4 and 5 3,165,735 2,377,099

3,692,753 2,914,370

STOCKHOLDERS’ DEFICIENCY

Common stock, $0.001 par value – Notes 6 and 8
300,000,000 shares authorized
118,178,323 shares issued and outstanding (September 30, 2006:
118,178,323 shares) 118,179 118,179
Additional paid-in capital 28,690,854 28,609,612
Accumulated other comprehensive loss (246,705 ) (150,368 )
Accumulated deficit (31,332,720 ) (30,378,003 )

(2,770,392 ) (1,800,580 )

$ 922,361 $ 1,113,790

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Sales $ 25,441 $ 782,242
Less: cost of goods sold 580 593,010

24,861 189,232

General and administrative expenses:
Accounting and audit fees 73,443 57,121
Advertising and promotion 19,329 58,187
Amortization 5,899 6,584
Bad debts 28,431 43,685
Bank charges and interest 117 85
Consulting fees 36,634 177,085
Development costs – Note 4 268,919 412,455
Filing fees 867 121
Interest 57,256 57,088
Legal fees – Note 4 130,228 36,264
Management fees – Note 4 57,988 124,857
Office and miscellaneous 23,270 66,274
Rent 26,154 28,917
Salaries and benefits 154,052 96,888
Stock-based compensation 57,242 -
Transfer agent 225 815
Travel – Note 4 39,524 80,478
Write down of patents - 8,994
Write down of inventory - 63,928

(979,578 ) (1,319,826 )

Operating loss before other item (954,717 ) (1,130,594 )

Other item:
Interest income - 5,292

Net loss for the period (954,717 ) (1,125,302 )

Other comprehensive loss
Foreign currency adjustment (96,337 ) (2,551 )

Comprehensive loss for the period $ (1,051,054 ) $ (1,127,853 )

Basic loss per share $ (0.01 ) $ (0.01 )

Weighted average number of shares outstanding 118,178,323 115,771,988

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Cash flows used in Operating Activities
Net loss for the period $ (954,717 ) $ (1,125,302 )
Items not affecting cash:
Amortization 5,899 6,584
Stock-based compensation 57,242
Write-down of patents - 8,994
Write-down of inventory - 63,928
Interest imputed on loans payable 24,000 -
Changes in non-cash working capital items:
Accounts receivable 10,882 (126,415 )
Government value added tax receivable 126,004 12,329
Inventory (13,251 ) 9,748
Accounts payable and accrued liabilities (23,954 ) 526,835

(767,895 ) (623,299 )

Cash flows used in Investing Activities
Equipment disposal 5,634 48,178
Repayment of loans receivable - (68,388 )

5,634 (20,210 )

Cash flows from Financing Activity
Increase in loans payable 677,508 174,408

Effect of exchange rates on cash 6,158 (7,730 )

Decrease in cash during the period (78,595 ) (476,831 )

Cash, beginning of the period 187,432 658,949

Cash, end of the period $ 108,837 $ 182,118

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Capital stock issued for cash 1 $ 31,042 $ - - $ - $ - $ - $ 31,042
Contribution of assets - - 25,056 - - - - 25,056
Pursuant to the acquisition of Aqua
Society GmbH 10,000,000 10,000 - 34,000,000 34,000 - - 44,000
Exchange of shares (1 ) (31,042 ) - - - - - (31,042 )
Outstanding shares of Company
prior to acquisition 69,908,000 69,908 - - - - (194,748 ) (124,840 )
Unrealized loss on translation - - - - - (997 ) - (997 )
Net loss for the period - - - - - - (67,448 ) (67,448 )

Balance, September 30, 2004 79,908,000 79,908 25,056 34,000,000 34,000 (997 ) (262,196 ) (124,229 )

Issued for cash:
Pursuant to private placement - at $2.40 416,666 417 999,583 - - - - 1,000,000
- at $1.98 1,232,322 1,233 2,438,766 - - - - 2,439,999
Pursuant to exercise of options - at $1.70 215,000 215 365,285 - - - - 365,500
Conversion of special warrants 34,000,000 34,000 - (34,000,000 ) (34,000 ) - - -
Stock-based compensation - - 22,480,000 - - - - 22,480,000
Unrealized gain on translation - - - - - 89,594 - 89,594
Net loss for the year - - - - - - (25,787,558 ) (25,787,558 )

Balance, September 30, 2005 115,771,988 115,773 26,308,690 - - 88,597 (26,049,754 ) 463,306

Pursuant to private placement - at $1.04 1,160,960 1,161 1,206,237 - - - - 1,207,398
- at $0.88 1,245,375 1,245 1,094,685 - - - - 1,095,930
Unrealized loss on translation - - - - - (238,965 ) - (238,965 )
Net loss for the period - - - - - - (4,328,249 ) (4,328,249 )

Balance, September 30, 2006 118,178,323 118,179 28,609,612 - - (150,368 ) (30,378,003 ) (1,800,580 )

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

Continued

AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Stock-based compensation - - 57,242 - - - - 57,242
Unrealized loss on translation - - - - (96,337 ) - (96,337 )
Contribution of interest – Note 5 - - 24,000 - - - - 24,000
Net loss for the period - - - - - - (954,717 ) (954,717 )

Balance, December 31, 2006 118,178,323 $ 118,179 $ 28,690,854 - $ $ (246,705 ) $ (31,332,720 ) $ (2,770,392 )

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2006
(Stated in US Dollars)
(Unaudited)

Note 1 Interim Reporting

While information presented in the accompanying interim consolidated financial statements is unaudited, it includes all adjustments, which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented. All adjustments are of a normal recurring nature. The accompanying interim consolidated financial statements do not include all information and footnote disclosures required for an annual set of financial statements prepared under generally accepted accounting principles in the United States of America. The accompanying interim consolidated financial statements should be read in conjunction with the Company’s September 30, 2006 audited consolidated financial statements. Operating results from the period ended December 31, 2006 are not necessarily indicative of the results that can be expected for the year ending September 30, 2007.


Note 2 Nature and Continuance of Operations

These interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for the next twelve months. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. At December 31, 2006, the Company had not yet achieved profitable operations, has accumulated losses of $31,332,720 since its inception, has a working capital deficiency of $3,017,690 and expects to incur further losses in the development of its business, all of which casts substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations 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 considers that the Company will be able to obtain additional funds by equity financing and/or related party advances; however there is no assurance of additional funding being available.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 2
(Unaudited)

Note 3 Investments

i) UFI Tec GmbH

By an agreement dated November 30, 2004 and effective December 10, 2004, the Company acquired a 33% interest in UFI-Tech GmbH (“UFI”), a German limited company, for consideration of EUR 25,565 (US $32,476). During the year ended September 30, 2005, the Company wrote down the $32,476 investment and related loans receivable of $67,227 to their net realizable value of $1. During the year ended September 30, 2006, the Company sold 13.1% of their 33% interest (19.9% interest remains) for proceeds of EUR 10,072 (US $12,237) and wrote down an additional loan receivable of $66,094 to its net realizable value of $1.

ii) By an agreement dated February 18, 2006, the Company acquired a 51% interest in TMR GmbH (“TMR”), a German limited company, in consideration of EUR 12,750 (US $15,999). TMR is involved in the development, installation, distribution and management of renewable resources. At the date of acquisition, TMR had no business, assets or liabilities. During the year ended September 30, 2006, the Company wrote down its investment by $15,674 (EUR 12,749) to $1. During the three months ended December 31, 2006, the Company disposed of its interest in TMR for $1.

Note 4 Related Party Transactions – Note 7

The Company incurred the following amounts charged by directors of the Company, the brother of a director of the Company and a law firm of which a former director of the Company is a partner:

Three months ended
December 31,
2006 2005

Development costs $ 88,013 $ 191,595
Legal fees - 26,073
Management fees 57,988 124,857
Travel - 1,780

$ 146,001 $ 344,305

Accounts receivable – other includes $59,367 related to an advance to a former officer of the Company.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 3
(Unaudited)

Note 4 Related Party Transactions – Note 7 – (cont’d)

Included in accounts payable and accrued liabilities is $77,498 (September 30, 2006: $79,358) due to directors of the Company and a former director of the Company. These amounts are unsecured, non-interest bearing and have no specific terms for repayment.

Included in loans payable is $1,527,238 (September 30, 2006: $1,441,507) due to a law firm of which a former director of the Company is a partner.

Note 5 Loans Payable

Of the total loans outstanding at December 31, 2006, $950,886 (September 30, 2006: $883,822) bear interest at 7.5% per annum, are secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $773,403 (September 30, 2006: $743,675) are non-interest bearing, secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $1,319,261 (September 30, 2006: $634,276) are non-interest bearing, unsecured and due on demand, and $122,185 (September 30, 2006: $115,326) of loans payable bear interest of 7.5% per annum, are unsecured and are repayable on or before December 31, 2006. The loans due on or before December 31, 2006 were not repaid and are consequently in default. The company has imputed interest on the non-interest bearing loans at 10% per annum for a total of $24,000 during the three months ended December 31, 2006.

Note 6 Capital Stock – Note 8

Commitments:

Share Purchase Options

On December 21, 2006, the Company adopted a second stock incentive plan (the “2006 Stock Option Plan”) to provide incentives to employees, directors, officers and permitted consultants. The 2006 Stock Plan provides for the issuance of up to 7,000,000 options with a term to be determined by the plan administer or, if not so established, ten years. The maximum aggregate number of shares that may be optioned under the 2006 Stock Option Plan will be increased effective the first day of each of the Company’s fiscal quarters (“adjustment date”), beginning with the fiscal quarter commencing April 1, 2007 by an amount equal to the lesser of i) 15% of the outstanding shares on the first day of the applicable quarter less a) the number of shares of common stock that may be optioned and sold under the plan prior to the adjustment date and b) the number of shares of common stock that may be optioned and sold under any other stock option plan in effect as of the adjustment date or ii) such lesser number of shares of common stock as may be determined by the Board.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 4
(Unaudited)

Note 6 Capital Stock – Note 8 – (cont’d)

Commitments: – (cont’d)

Share Purchase Options – (cont’d)

A summary of the stock options outstanding as at December 31, 2006 and changes during the period is presented below:

Weighted
Average
Exercise
Shares Price

Options outstanding at September 30, 2006 7,535,000 $ 1.70
Granted 4,500,000 $ 0.40

Options outstanding at December 31, 2006 12,035,000 $ 1.21

Options exercisable at December 31, 2006 7,535,000

A summary of stock options outstanding at December 31, 2006, is as follows:

Exercise
Number Price Expiry Date

562,500 $0.40 April 1, 2009
562,500 $0.40 July 1, 2009
562,500 0.40 October 1, 2009
7,535,000 $1.70 October 15, 2009
562,500 $0.40 January 1, 2010
562,500 $0.40 April 1, 2010
562,500 $0.40 July 1, 2010
562,500 $0.40 October 1, 2010
562,500 $0.40 January 1, 2011

12,035,000

The Company used the Black-Scholes option pricing model to compute estimated fair value at each of the grant dates.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 5
(Unaudited)

Note 6 Capital Stock – Note 8– (cont’d)

Commitments – (cont’d)

Share Purchase Options – (cont’d)

The Black-Scholes option-pricing model requires the input of highly subjective assumptions including the expected price volatility. Changes in the subjective input assumptions can materially affect the fair value estimate and therefore the Black-Scholes model does not necessarily provide a reliable single measure of the fair value of the Company’s share purchase options.

The Company used the Black-Scholes option pricing model to compute the estimated fair value of the options granted during the three months ended December 31, 2006, based on the following assumptions:

Risk-free interest rate 4.84%
Dividend yield rate 0.00%
Price volatility 159.23%
Weighted average expected life of options 2.03 years
Weighted average fair value $0.36

The Company recognized stock-based compensation of $57,242 during the three months ended December 31, 2006.

Share Purchase Warrants

As at December 31, 2006, a total of 2,406,335 share purchase warrants exercisable into 2,406,335 common shares were outstanding as follows:

Exercise
Number Price Expiry Date

1,169,960 $1.30 February 9, 2008
1,245,375 $1.10 June 15, 2008

2,406,335


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 6
(Unaudited)

Note 7 Commitments

i) Lease Contracts

By four lease agreements dated September 30, 2004 and effective October 1, 2004, the Company entered into four lease contracts for the Company’s corporate head office. The leases require total payments of EUR 6,690 (US$8,826) per month. Two of the leases are effective until May 31, 2007 and the other two are effective until December 31, 2007. The leases will be automatically extended every year unless cancelled with six months advance notice.

Minimum future lease payments

September 30, 2007 $ 80,960
2008 12,144

$ 93,104

ii) Management/Consulting Contracts


a) By a management consulting contract dated September 30, 2004 and effective October 1, 2004, the Company’s subsididary (“GmbH”) agreed to pay EUR15,000 (US $19,789) per month to a managing director of GmbH for development, production and quality assurance services. The managing director of the GmbH is also a director of the Company. This contract is for an unlimited term but may be terminated by either party with six months advance notice.


b) By a consulting agreement dated October 1, 2004, the Company agreed to pay $2,000 per month to a consultant of the Company. The agreement is effective for a term of 5 years. The Company granted 500,000 common stock options upon signing of the agreement. The exercise price of the stock options is $1.70 per share and expires on October 15, 2009.


c) By a management consulting contract dated and effective October 1, 2004, the Company agreed to pay EUR 5,000 (US$6,274) per month for marketing and business development services. Effective October 1, 2005, the contract was amended to increase the payment to EUR 7,500 (US $9,411) per month. Effective October 1, 2006, the contract was amended to EUR 15,000 (US$19,028) per month for October, November and December, 2006. By an agreement dated November 1, 2006 and effective January 11, 2007, the Company agreed to the payment of EUR 2,000 (US $2,638) per month until December 31, 2007 and a 5% commission of gross sales to third parties which occurred as a result of the consultant’s work. The contract automatically renews for one year if not terminated at the end of a year by giving six months advance notice.



--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 7
(Unaudited)

Note 7 Commitments – (cont’d)

ii) Management/Consulting Contracts – (cont’d)

d) By a management consulting contract dated and effective January 1, 2005, the GmbH agreed to pay EUR 5,520 (US $7,002) per month for marketing, sales and distribution services. By an agreement dated November 10, 2006 and effective January 1, 2007, the contract was amended to decrease the payment to EUR 3,750 (US $4,947) per month with additional payments of EUR 10,000 (US $12,686) and EUR 5,000 (US$6,343) in November and December 2006 respectively. The contract ends on December 31, 2007 and may be terminated by either party with three months advance notice.

e) By a management consulting agreement dated August 1, 2005, the GmbH agreed to pay EUR 3,900 (US $5,145) per month for administration services for the research and development department. The contract is for an unlimited term and may be terminated by either party by giving six months advance notice.

f) By a management consulting contract dated December 12, 2005 and effective January 1, 2006, the GmbH agreed to pay EUR 20,000 (US $25,371) per month to March 31, 2006 and EUR 25,000 (US $31,714) per month to December 31, 2006 for technical services. Effective September 18, 2006, the contract was amended and the payment was decreased to EUR 10,000 (US$ 12,686) per month and extended to June 30, 2007. The management consulting contract is with a company owned by a director of the Company.

g) By a management consulting contract dated November 10, 2004, the Company agreed to pay EUR 500 (US $660) per press release to a former director of the Company. This contract is for an unlimited term but may be terminated by either party with one month advance notice.

h) By management consulting agreements dated December 28, 2006, the Company agreed to pay directors of the Company a total of EUR 56,000 (US $73,879) for the period October 1, 2006 to December 31, 2006 and EUR 14,000 (US $18,470) per month for the period January 1, 2007 to September 30, 2007. The contract is for an unlimited term but may be terminated by either party with three months advance notice.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 8
(Unaudited)

Note 8 Subsequent Event

Subsequent to December 31, 2007, the Company approved a private placement offering of 7,500,000 units at $0.30 per unit with each unit consisting of one share of the Company’s common stock and one-half share purchase warrant for total proceeds of $2,250,000. Each share purchase warrant entitles the holder to purchase one additional share of the Company’s common stock at $0.35 per share for a period of one year from the date of issuance of the units.


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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this Quarterly Report constitute "forward-looking statements". These statements, identified by words such as “plan”, "anticipate," "believe," "estimate," "should," "expect" and similar expressions include our expectations and objectives regarding our future financial position, operating results and business strategy. These statements reflect the current views of management with respect to future events and are subject to risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from those described in the forward-looking statements. Such risks and uncertainties include those set forth under the caption "Management's Discussion and Analysis or Plan of Operation" and elsewhere in this Quarterly Report. We do not intend to update the forward-looking information to reflect actual results or changes in the factors affecting such forward-looking information. We advise you to carefully review the reports and documents we file from time to time with the United States Securities and Exchange Commission (the “SEC”), particularly our Annual Reports on Form 10-KSB and our Current Reports on Form 8-K.

As used in this Quarterly Report, the terms "we", "us", "our", “the Company” and “Aqua Society” mean Aqua Society, Inc. unless otherwise indicated. All dollar amounts in this Quarterly Report are in U.S. dollars unless otherwise stated.

INTRODUCTION

The following discussion and analysis summarizes our plan of operation for the next twelve months, our results of operations for the three month period ended December 31, 2006 and changes in our financial condition from September 30, 2006. This discussion should be read in conjunction with the Management’s Discussion and Analysis or Plan of Operation included in our Annual Report on Form 10-KSB for the year ended September 30, 2006.

We were incorporated under the laws of the State of Nevada on March 2, 2000, under the name “V G Tech, Inc.”

On September 22, 2004, we completed the acquisition of Aqua Society GmbH (“Aqua GmbH”). Prior to our acquisition of Aqua GmbH, we were in the business of providing services in the areas of digital graphics and special effects. Upon completing the acquisition of Aqua GmbH, we abandoned this digital imaging business. We are now in the business of designing and developing applied technologies, and providing consulting services, in the areas of heating, ventilation, air conditioning, refrigeration, water purification, waste water treatment, and, our latest business segment, energy (collectively, the “Aqua Business”).

Effective December 27, 2004, we changed our name to “Aqua Society, Inc.” to better reflect the nature of our current business operations

Recent Corporate Developments

The following significant corporate developments have occurred since our fiscal year ended September 30, 2006:

1. After the completion of our 2006 fiscal year, we completed the construction of a demonstration prototype of our EnergyMission / Yellow Box technology. A media event to showcase this demonstration model was held at our facilities on December 21, 2006. This demonstration unit will be used by us for marketing and demonstration purposes as well as for research and development.


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2. On December 21, 2006, our Board of Directors approved and adopted our 2006 Stock Option Plan (the “2006 Option Plan”). Under the 2006 Option Plan, options may be granted for a maximum of 7,000,000 shares of our common stock. The maximum number of shares that may be optioned under the 2006 Option Plan will increase each fiscal quarter, beginning with the fiscal quarter commencing April 1, 2007, by an amount equal to 15% of the total increase in the number of shares of common stock outstanding or such lesser amount as may be determined by our Board of Directors.


A summary of our 2006 Option Plan is set forth in our Current Report on Form 8-K filed with the SEC on December 29, 2006. The full text of the 2006 Option Plan is attached as Exhibit 10.1 to our Current Report on Form 8-K filed with the SEC on December 29, 2006, and is incorporated by reference herein.


3. Also on December 21, 2006, our Board of Directors approved the grant of options under the 2006 Option Plan for 2,500,000 shares of our common stock at an exercise price of $0.40 per share to Mr. Terberg and options to purchase an aggregate of 2,000,000 shares of our commons stock to Mr. van der Zee, also at a price of $0.40. The options granted to each of Mr. Terberg and Mr. van der Zee vest in equal quarterly instalments, commencing on April 1, 2007 and expiring 2 years after the applicable vesting date.


Changes to the Board of Directors and Executive Officers

In addition to the above corporate developments, there have been a number of changes to our Board of Directors and executive officers since the end of our 2006 fiscal year.

Effective October 31, 2006, Robert Terberg replaced Petrus Lodestijn as our Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary and also as a member of our Board of Directors. Also effective on October 31, 2006, our Board of Directors was expanded by the appointment of Hubert Hamm as a director of the Company and by the appointment of Hugo van der Zee as the Chairman of the Company’s Board of Directors.

PLAN OF OPERATION

During the next twelve months, we will focus: (1) on the design and construction of products ordered from us; (2) on further developing the market for our products; and (3) on continuing to develop and improve our products. Specifically, our plan of operation for the next twelve months involves the following:

1. Design and Construction of Ordered Units: During the next twelve months, we will work on the design and construction of the waste heat power generation, AquaMission and ThermoMobil units for which we have received orders.


2. Market Development Activities: Over the next twelve months we intend to do the following in an effort to continue developing a market for our products and services:


(a) We have completed the construction of a prototype EnergyMission / Yellow Box unit that we will use for marketing and demonstration purposes, as well as for ongoing research and development. The prototype unit will be used by us to demonstrate the effectiveness of our technology to trade media and industry representatives on an ongoing basis.


(b) We are also in the process of setting up a wholly owned subsidiary in the Netherlands (the “Dutch Subsidiary”), through which we will seek to promote all of our products in the “Benelux” countries (Belgium, the Netherlands and Luxemberg). In addition, we intend to use the Dutch Subsidiary to establish an additional production facility to be located in


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the Netherlands. This production facility is expected to enable us to significantly expand our production capabilities from the limited facilities located in Herten, Germany. The Dutch Subsidiary is expected to be based in Zevenaar, near Arnhem, in the east of the Netherlands.


(c) We will continue to attempt to market the AquaMission combined air-conditioning and drinking water product in geographic locations with high ambient temperatures and relative humidity but without readily available sources of fresh water, such as the Persian Gulf and the Middle East. Three demonstration models of the AquaMission are currently on location in the Middle East. We are currently in the process of seeking new sales agents for our products in the Middle East.


We will continue to try and generate sales in the Middle East using these demonstration models.


In addition to these activities, we may also seek to increase brand awareness through various advertising activities and sponsorships.

3. Product Development Activities: During the next twelve months, we will also continue to work on further developing and improving our existing products in an effort to increase their marketability. As part of these efforts, we have developed and built a demonstration model of our Yellow Box technology.


We are also in the process of constructing a high-tech “climate room” that will allow us to simulate the world’s various humidity and temperature zones. This “climate room” will assist us in optimizing our AquaMission unit for different geographic locations.


We anticipate spending approximately $2,000,000 in pursuing our plan of operation over the next twelve months. As of December 31, 2006, the date of our most recently available financial statements, we had a working capital deficit of $3,017,690. As such, we do not have sufficient working capital to meet our expected needs over the next twelve months. Although we have recently begun to earn revenues, we have not yet earned a net profit and we do not expect to achieve profitability in the near future as we expect to continue to incur substantial product development, marketing and operating expenses. We are likely to continue to need substantial additional financing in order to implement our plan of operation. Our management expects that any additional financing that we obtain will likely be in the form of equity financing.

Our actual expenditures and business plan may differ from the one stated above. Our Board of Directors may decide not to pursue this plan. In addition, we may modify the plan based on available financing.

RESULTS OF OPERATIONS

First Quarter Summary

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Revenue $25,441 $782,242 (96.7)%
Cost of Goods Sold (580) (593,010) (99.9)%
General and Administrative Expenses (979,578) (1,319,826) (25.8)%
Other Items Nil (5,292) (100.0)%
Net Loss $(954,717) $(1,125,302) (15.2)%

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Revenues

During our last fiscal year, we earned revenues from HVAC&R and energy optimization consulting services, and from equipment sales made in connection with the provision of those services. However, we do not have a long-term history of earning revenues and, as a result, we are unable to accurately forecast future revenues. Readers are cautioned that our past operating results may not be indicative of future performance.

During the fiscal year ended December 31, 2006, our revenue decreased by 96.7% as compared to the same period ended in 2005. Since their appointment in October, 2006, our new executive officers and directors have been conducting a company wide review of our operations. During this period, we scaled back our HVAC&R and energy optimizing consulting activities. As a result, our revenues decreased substantially.

During the next twelve months, we intend to concentrate our resources on developing the market for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, as we believe that these products will provide us with the greatest opportunity for future profitability. As a result, we may continue to scale back the HVAC&R and energy optimization consulting services that we have provided in the past.

Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products, and there are no assurances that we will be able earn such revenues in the future.

Operating Costs and Expenses

Our operating expenses for the quarterly period ended December 31, 2006 consisted of the following:

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Accounting and audit fees $73,443 $57,121 28.6%
Advertising and promotion 19,329 58,187 (66.8)%
Amortization 5,899 6,584 (10.4)%
Bad debts 28,431 43,685 (34.9)%
Bank charges and interest 117 85 37.6%
Consulting fees 36,634 177,085 (79.3)%
Development costs 268,919 412,455 (34.8)%
Filing fees 867 121 616.5%
Interest 57,256 57,088 0.3%
Legal fees 130,228 36,264 259.1%
Management fees 57,988 124,857 (53.6)%
Office and miscellaneous 23,270 66,274 (64.9)%
Rent 26,154 28,917 (9.6)%
Salaries and benefits 154,052 96,888 (59.0)%
Stock-based compensation 57,242 Nil 100.0%
Transfer agent 225 815 (72.4)%

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Travel 39,524 80,478 (50.9)%
Write down of patents Nil 8,994 (100.0)%
Write down of inventory Nil 63,928 (100.0)%
Total General and Administrative Expenses $979,578 $1,319,826 (25.8)%

Our general and administrative expenses decreased by $340,248, or 25.8%, during the three month period ended December 31, 2006 as compared to 2005. This decrease in our general and administrative expenses was primarily generated as a result of the efforts of our current management to streamline our operations. During the next few months, we expect that our general and administrative expenses will continue to fluctuate somewhat as we continue to review and overhaul our current operations.

Management fees decreased by $66,869, or 53.6%, during the quarter ended December 31, 2006, primarily because of the termination of a management services contract under which we had been obligated to pay management fees of EUR 20,000 per month to a law firm of which a former officer and director is a partner. Also, during the last fiscal quarter, we scaled back some of our product development activities as our management conducted a company wide assessment of our operations. As a result, development costs, and consulting fees associated with our development activities, also decreased significantly during our last fiscal quarter. Office and travel expenses also decreased primarily as a result of our efforts to streamline our operations. Also contributing to the overall decrease in our general and administrative expenses from the quarter ended December 31, 2005 was the fact that, during our December 31, 2005 fiscal quarter, we recognized one-time patent and inventory write down charges totaling $72,922. No patent or inventory write down charges were recognized for the period ended December 31, 2006.

Offsetting the above decreases were significant increases in accounting and audit fees, legal fees and salaries and benefits. The increase in legal fees relates primarily to amounts incurred in connection with the negotiation of our patent licensing agreement with Ecoenergy Patent GmbH and in connection with the restructuring of our operations by our new management. The events giving rise to the additional amounts spent on legal fees are not expected to be ongoing. Accounting and auditing fees increased as a result of an increase in the amounts charged by our consulting accountants and by our independent auditors. The increase in salaries and benefits was a result of the hiring of two additional non-management employees.

Also, during the period ended December 31, 2007, we recorded stock-based compensation expenses of $57,242 on account of stock options granted to certain of our officers and directors during the period. No options or other stock-based compensation were granted during the period ended December 31, 2005.

LIQUIDITY AND CAPITAL RESOURCES

Working Capital

At At Percentage
December 31, 2006 September 30, 2006 Increase / (Decrease)
Current Assets $675,063 $854,960 (21.0)%
Current Liabilities (3,692,753) (2,914,370) 26.7%
Working Capital Surplus (Deficit) $(3,017,690) $(2,059,410) 46.5%

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Included in current liabilities are a total of $1,527,238 payable to a law firm of which one of our former officers and directors, is a partner. We are currently in negotiations with the former officer and director for the settlement of the amounts owed to him and his law firm.

Cash Flows

Three Months Ended December 31
2006 2005
Cash Flows used in Operating Activities $(767,895) $(623,299)
Cash Flows used in Investing Activities 5,634 (20,210)
Cash Flows from Financing Activities 677,508 174,408
Effects of Foreign Exchange Rates 6,158 (7,730)
Net Decrease in Cash During Period $(78,595) $(476,831)

During the period ended December 31, 2006, we obtained financing in the form of a EUR 500,000 loan. This loan is unsecured, non-interest bearing and payable upon demand.

Total loans payable at December 31, 2006 consist of the following amounts:

(a) $950,886, bearing interest at a rate of 7.5% per annum, secured by accounts receivable and repayable on or before December 31, 2006;


(b) $773,403, non-interest bearing, secured by accounts receivable and repayable on or before December 31, 2006;


(c) $122,185, bearing interest a rate of 7.5% per annum, unsecured and payable on or before December 31, 2006; and


(d) $1,319,261, non-interest bearing, unsecured and due on demand.


The amounts payable on or before December 31, 2006 have not yet been repaid and are past due. We are currently in negotiations with our creditors for the settlement and repayment of amounts owed to them.

As at December 31, 2006 we had cash in the amount of $108,837 and a working capital deficit of $3,017,690. We anticipate spending approximately $2,000,000 over the next 12 months in pursuing our plan of operation. We will require substantial additional financing in the next few months in order to pursue our current plan of operation.

Although we earned revenues during our fiscal year ended September 30, 2006, we did not earn significant revenues during the fiscal quarter ended December 31, 2006 and we have not yet achieved profitability. Our future financial results are uncertain due to a number of factors, many of which are outside of our control. These factors include, but are not limited to:

(a) our ability to commercially market our ThermoMobil and AquaMission products;


(b) our ability to develop a commercially marketable EnergyMission/Yellow Box product;


(c) our ability to raise additional capital necessary to implement our business strategy and plan of operation;


(d) our ability to compete with other existing technologies; and


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(e) the success of any marketing and promotional campaign which we conduct for our products once development is complete.


Due to the uncertainty regarding our future revenues and profitability, we expect that the majority of additional financing that we obtain, if any, will likely be in the form of equity financing. Our management does not expect sufficient debt financing to be available to us through traditional sources at this stage of our business.

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 are material to our stockholders.

CRITICAL ACCOUNTING POLICIES

The preparation of financial statements in conformity with generally accepted accounting principles requires our management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Our management routinely makes judgments and estimates about the effects of matters that are inherently uncertain.

We have identified certain accounting policies, described below, that are most important to the portrayal of our current financial condition and results of operations. Our significant accounting policies are disclosed in Note 3 to the interim financial statements included in this Quarterly Report.

Principles of Consolidation

The consolidated financial statements include the accounts of Aqua Society, Inc and our wholly owned subsidiary, Aqua Society GmbH, a German limited liability company (“Aqua GmbH”). All inter-company transactions have been eliminated.

Foreign Currency Translation

Our functional currency is United States dollars. Our subsidiary, Aqua GmbH, uses the Euro as its functional currency. Accordingly, assets and liabilities of Aqua GmbH are translated into US dollars at the exchange rate in effect at the balance sheet date and capital accounts are translated at historical rates. Income statement accounts are translated at the average rates of exchange prevailing during the period. Translation adjustments arising from the use of differing exchange rates from period to period are included in the Accumulated Other Comprehensive Gain/(Loss) account in Stockholders’ Equity.

Transactions undertaken in currencies other than the functional currency of the entity are translated using the exchange rate in effect as of the transaction date. Any exchange gains and losses would be included in the Statement of Operations.

Patents, Patent Rights and Amortization

Patents and patent rights are recorded at cost. We provide for the amortization of patents and patent rights on the straight-line basis over their estimated economic lives, estimated to be 5 years. Amortization is recorded upon the patents being awarded.

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RISKS AND UNCERTAINTIES

Need For Financing

We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability. We are likely to continue to need substantial additional financing in order to implement our long term business plan. There is no assurance that we will be able to acquire sufficient financing on terms acceptable to us or at all. If financing is not available or obtainable, our ability to meet our financial obligations and pursue our plan of operation will be substantially limited and investors may lose a substantial portion or all of their investment

Limited Operating History, Risks Of A New Business Venture

We are still in the process of developing our business and have only recently begun to earn revenues. Readers are cautioned that our past results may not be indicative of future performance.

Potential investors should be aware of the difficulties normally encountered by a new enterprise and the high rate of failure of such enterprises. The potential for future success must be considered in light of the problems, expenses, difficulties complications and delays encountered in connection with the development of a business in the area in which we intend to operate and in connection with the formation and commencement of operations of a new business in general. These include, but are not limited to, unanticipated problems relating to research and development programs, marketing, approvals by government agencies, competition and additional costs and expenses that may exceed current estimates. There is no history upon which to base any assumption as to the likelihood that we will prove successful, and there can be no assurance that we will ever achieve profitable operations.

If We Are Unable To Achieve Market Acceptance For Our Products, We Will Be Unable To Build Our Business

To date, we have completed technical development of our EnergyMission/Yellow Box, ThermoMobil and AquaMission products. However, we have only received a limited number of confirmed orders for these products. Our future success will depend upon the acceptance of our existing products, and other products that we develop, by the respective industries in which we intend to market those products. Achieving such acceptance will require significant investments in research and development and market development. The technologies upon which our products and services are based are relatively new and are evolving. Accordingly, in order to achieve commercial acceptance, we will have to educate prospective clients about the uses and benefits of our products.

Even If We Are Able To Develop A Commercial Market For Our Products, We May Not Have The Ability To Meet The Demand For Those Products

We intend to complete the construction of the initial AquaMission, ThermoMobil and EnergyMission/Yellow Box units ordered from us at our facilities located in Herten, Germany. However, the size of these facilities is limited.

We are currently in the process of establishing a wholly owned subsidiary in the Netherlands, with which we intend to establish a larger scale production facility. Further, we intend to seek supply contracts and/or joint venture/licensing agreements with independent manufacturing companies to manufacture our products on a large scale basis, however we have not yet entered into any such contracts or agreements.

Our Operations May Be Subject to Extensive Government Regulation

Our operations may be subject to extensive government regulations in the United States, Europe and elsewhere. In order to sell our products, we may have to satisfy numerous mandatory procedures,

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regulations, and safety standards established by international, federal and state regulatory agencies. Although we currently comply with stringent German regulations, there can be no assurance that we can successfully comply with all present and future government regulations worldwide.

Risks of International Business Operations

Although we are incorporated in the United States, the majority of our operating activities are conducted in Germany. Additionally, in the past, we have targeted markets for our products in the Persian Gulf and other developing parts of the world, such as Africa. As such, a significant portion of our business depends upon our ability to establish and maintain successful relationships with businesses and governments located outside of the United States. If we are unable to establish and maintain such relationships, we may not be able to implement our business plan or plan of operations.

In order to better manage the risks associated with our international operations, our management has decided to focus their business development efforts on markets near to our base of operations, such as Germany, the Netherlands and the rest of Europe.

Rapid Technological Changes In Our Industry Could Make Our Products Obsolete

The industry in which we intend to compete is characterized by rapid technological change and intense competition. New technologies, products and industry standards will develop at a rapid pace which could make our planned products obsolete. Our future success will depend upon our ability to develop and introduce product enhancements to address the needs of our customers.

Asserting And Defending Intellectual Property Rights May Impact Results Of Operations

The success of our business may depend on our ability to successfully defend our intellectual property rights. Future litigation may have a material impact on our financial condition even if we are successful in developing and marketing products. We may not be successful in defending or asserting our intellectual property rights.

An adverse outcome in any litigation or interference proceeding could subject us to significant liabilities to third parties and require us to cease using the technology that is at issue or to license the technology from third parties. In addition, a finding that any of our intellectual property rights are invalid could allow our competitors to more easily and cost-effectively compete. Thus, an unfavorable outcome in any patent litigation or interference proceeding could have a material adverse effect on our business, financial condition or results of operations.

The cost to us of any patent litigation or interference proceeding could be substantial. Uncertainties resulting from the initiation and continuation of patent litigation or interference proceedings could have a material adverse effect on our ability to compete in the marketplace. Patent litigation and interference proceedings could also absorb significant management time.

We May Be Subject To Product Liability Lawsuits

We may be subject to product liability claims. Such claims may absorb significant management time and could degrade our reputation and the marketability of our products. If product liability claims are made with respect to our products, we may need to recall the implicated product which could have a material adverse effect on our business, financial condition and results of operations. In addition, although we may maintain product liability insurance, we cannot be sure that such insurance will be adequate to cover potential product liability lawsuits. Insurance is expensive and in the future may not be available on acceptable terms, if at all. If a successful product liability claim or series of claims exceeds insurance coverage, it could have a material adverse effect on our business, financial condition and results of operations.

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If We Are Late In Filing Any Of Our Annual Or Quarterly Reports During The Next Two Years, Our Common Stock May Become Ineligible For Quotation On The OTC Bulletin Board, Which Would Negatively Affect The Market For Our Shares And Our Ability To Obtain Additional Financing.

On November 16, 2005, the SEC approved certain changes to NASD Rule 6530. As amended, NASD Rule 6530 provides that OTC Bulletin Board (“OTCBB”) issuers who are late in filing their annual or quarterly reports three times within a 24-month period will be ineligible for quotation on the OTCBB. In order to regain eligibility under this rule, the issuer would need to timely file all of its annual and quarterly reports due in a one year period. The amended NASD Rule 6530 does not apply to annual or quarterly reports for periods ended before October 1, 2005.

From time to time, we have been late in filing our quarterly and annual reports. If we are late in filing our annual or quarterly reports three times within a 24-month period, we may become ineligible for quotation on the OTCBB, which would negatively affect the market for our common stock. In addition, if our common stock is no longer eligible for quotation on the OTCBB, it may become more difficult for us to obtain additional equity financing as shares of our common stock will be less attractive to potential investors.

ITEM 3. CONTROLS AND PROCEDURES.

Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as of the end of the period covered by this report. Based on that evaluation, our principal executive officer and principal financial officer has concluded that our disclosure controls and procedures were not effective as we failed to timely file our periodic reports with the SEC on a number of occasions during the past fiscal year.

Our new management is in the process of taking measures to improve our disclosure controls and procedures in an effort to ensure that the information required to be disclosed is internally communicated and publicly reported within the time periods specified in the SEC’s rules and forms. In particular, we intend to engage outside consultants to assist us in the preparation of our accounting records and financial statements and will attempt to increase internal accountability and to clearly define internal communication channels in an effort to remedy the deficiencies identified by our principal executive officer and principal financial officer.

By working with our external consultants and our principal independent accountants, our management believes that the financial statements and the other information presented in this Quarterly Report are materially correct.

There were no changes in our internal control over financial reporting during the last fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

None.

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

All unregistered sales of our equity securities completed during our fiscal quarter ended December 31, 2006 have been previously reported in the Quarterly Reports on Form 10-QSB and Current Reports on Form 8-K that we filed during that period.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

None.

ITEM 5. OTHER INFORMATION.

Compensatory Arrangements Of Certain Officers

Effective December 28, 2006, we entered into management consulting services agreements with each of Robert Terberg, our current Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary, and currently a member of our Board of Directors, and Hugo van der Zee, currently the Chairman of our Board of Directors. The terms of our agreements with Mr. Terberg and Mr. van der Zee are disclosed in our Annual Report filed with the SEC on January 16, 2007.

ITEM 6. EXHIBITS.

Exhibit
Number Description of Exhibit
3.1 Restated Articles of Incorporation filed with the Nevada Secretary of State effective December 27, 2004.(5)
3.2 Bylaws, effective March 2, 2000.(1)
10.1 Share Purchase Agreement between Water-Capital-Holding Ltd., V G Tech, Inc., Aqua Society GmbH and Steve Livingston, dated for reference September 3, 2004.(2)
10.2 Agreement and Deed of Transfer between Water-Capital-Holding Ltd. and V G Tech, Inc. dated for reference September 22, 2004.(3)
10.3 Certified Translation of a Notarial Deed executed by Uwe Diestel and Aqua Society GmbH dated November 30, 2004 regarding the purchase and sale of an interest in UFI-TEC GmbH.(5)
10.4 2004 Stock Incentive Plan.(4)

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Exhibit
Number Description of Exhibit
10.5 Marketing & Promotion Agreement between Aqua Society Gmb

[krofisch]

!

Dieser Beitrag wurde vom System automatisch gesperrt. Bei Fragen wenden Sie sich bitte an [e-mail]

[Borealis]

Antwort auf Beitrag Nr.: 28.187.977 von krofisch am 08.03.07 17:53:12

"Dümmer gehts es wohl kaum noch"

Damit meinst Du ja sicher Aqua, die zwar eine pdf-Datei veröffentlichen wollten, aber vergessen haben, den Inhalt einzufügen.

[krofisch]

Antwort auf Beitrag Nr.: 28.188.286 von Borealis am 08.03.07 18:06:47

Ich kann die Datei jederzeit fehlerfrei an meinem PC zu Hause öffnen!

[westfale64]

Antwort auf Beitrag Nr.: 28.188.004 von krofisch am 08.03.07 17:54:29

Hier die wichtigsten Passagen aus Aquas aktuellem Quartalsbericht,die Aquas Pusher so gerne zumüllt.

Erklären Sie doch mal diese seltsamen Millionenprovisionen:




„Included in accounts payable and accrued liabilities is $77,498 (September 30, 2006: $79,358) due to directors of the Company and a former director of the Company.“

„Included in loans payable is $1,527,238 (September 30, 2006: $1,441,507) due to a law firm of which a former director of the Company is a partner.“

„By a management consulting contract dated September 30, 2004 and effective October 1, 2004, the Company’s subsididary (“GmbH”) agreed to pay EUR15,000 (US $19,789) per month to a managing director of GmbH“

„By a management consulting contract dated December 12, 2005 and effective January 1, 2006, the GmbH agreed to pay EUR 20,000 (US $25,371) per month to March 31, 2006 and EUR 25,000 (US $31,714) per month to December 31, 2006 for technical services. Effective September 18, 2006, the contract was amended and the payment was decreased to EUR 10,000 (US$ 12,686) per month and extended to June 30, 2007. The management consulting contract is with a company owned by a director of the Company.“


„By management consulting agreements dated December 28, 2006, the Company agreed to pay directors of the Company a total of EUR 56,000 (US $73,879) for the period October 1, 2006 to December 31, 2006 and EUR 14,000 (US $18,470) per month for the period January 1, 2007 to September 30, 2007.“

„Included in current liabilities are a total of $1,527,238 payable to a law firm of which one of our former officers and directors, is a partner. We are currently in negotiations with the former officer and director for the settlement of the amounts owed to him and his law firm.“



Wofür genehmigen sich die Abzocker diese Millionen ?

3 Mio. Überschuldung
nur noch 100000 in der Kasse
NOCH NIE eine Maschine verkauft
aber Millionen für die Aqua-Vorstände.

[krofisch]

Antwort auf Beitrag Nr.: 28.188.727 von westfale64 am 08.03.07 18:23:55

Nach der 'westfale64-Fassung kann jeder hier das ORIGINAL nachlesen:

http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

oder auch in #5059!

[krofisch]

Antwort auf Beitrag Nr.: 28.188.727 von westfale64 am 08.03.07 18:23:55

Wie oft hast du das eigentlich nur alleine heute schon kopiert?

Von den letzten Tagen und Wochen will ich ja erst gar nicht reden!

[wohinistmeinGeld]

es haben bis jetzt heute 79 gelesen, kann ja mal jemand von denen sagen ob einer was in dem Link sehen kann.

[krofisch]

Antwort auf Beitrag Nr.: 28.188.825 von wohinistmeinGeld am 08.03.07 18:28:11

Ja.
ICH kann den LINK schon immer öffnen.

z. B.:
1.) Adobe Reader 8 installieren
2.) LINK drücken
3.) Warten bis sich die herrliche pdf.Datei öffnet!

Der LINK ist auch auf der AQUA-Homepage!

Oder neuen PC + DSL anschaffen.

[krofisch]

Antwort auf Beitrag Nr.: 28.188.825 von wohinistmeinGeld am 08.03.07 18:28:11

Oder einfach hier klicken:

http://www.aqua-society.com/DOWNLOADS/Presseartikel/Kommunal…

dann öffnet sich sofort und kinderleicht der
Bericht Kommunalwirtschaft Ausgabe Januar 2007

[westfale64]

In #5006 (7 Seiten zurückblättern) steht der komplette Aqua-Quartalsbericht. Die für Aqua peinlichen Sachverhalte sind dort rot gekennzeichnet.


In #5062 stehen einige Ausschnitte.




Peinlich für Aqua und seinen Pusher, dass die kritischen Fragen immer wieder auftauchen.
Aber Antworten darauf gibt es wohl erst vor Gericht nachdem die 8-Mann-Klitsche das Zeitliche gesegnet hat - kann ja bei dem lächerlichen cash-Bestand von 100000 nicht mehr lange dauern.

[krofisch]

Antwort auf Beitrag Nr.: 28.189.600 von westfale64 am 08.03.07 19:00:44

Schon wieder die gleiche westfale64-Kopie.

Die wievielte Kopie ist das heute?

Es geht auch einfacher:
Der ORIGINAL-Q-Bericht steht in #5063 oder hier

http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

[krofisch]

Antwort auf Beitrag Nr.: 28.189.600 von westfale64 am 08.03.07 19:00:44

Und besonders die vielen westfale64-Leerzeilen sind wieder göttlich schön!

[krofisch]

Antwort auf Beitrag Nr.: 28.189.600 von westfale64 am 08.03.07 19:00:44

Hast denn nun mal endlich den

Bericht Kommunalwirtschaft Ausgabe Januar 2007

http://www.aqua-society.com/DOWNLOADS/Presseartikel/Kommunal…

gelesen?

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 28.188.911 von krofisch am 08.03.07 18:31:34

dann öffne mal den Link von einem anderen Computer und nicht von dem in der Firma wo ihr ihn eingestellt habt.

[Leichtmatrose]

!

Dieser Beitrag wurde vom System automatisch gesperrt. Bei Fragen wenden Sie sich bitte an [e-mail]

[krofisch]

Antwort auf Beitrag Nr.: 28.195.872 von wohinistmeinGeld am 09.03.07 00:29:24

dann öffne mal den Link von einem anderen Computer und nicht von dem in der Firma wo ihr ihn eingestellt habt.

Ich habe selten so herrlich und ausgiebig gelacht!

1.) Ich habe den LINK für den
Bericht Kommunalwirtschaft Ausgabe Januar 2007
http://www.aqua-society.com/DOWNLOADS/Presseartikel/Kommunal…
von meinem privaten PC ohne Probleme öffnen können

2.) 'Wir' haben den LINK und die PDF-Datei nicht auf die AQUA-Homepage gestellt, da 'meine' Firma gar nichts mit AQUA zu tun hat.

3.) Zur Erinnerung: AQUA ist eine Privatfirma und beschäftigt daher keine Beamten aus dem öffentlichen Dienst!

Also z. B.:
1.) Adobe Reader 8 installieren
2.) LINK drücken
3.) Warten bis sich die herrliche pdf.Datei öffnet!

Der LINK ist übrigens auch auf der AQUA-Homepage!

Oder einfach neuen PC + DSL anschaffen.

Du kannst mir aber gerne auch deine Fax-Adresse per BM senden, dann kann ich dir den Bericht gerne auch zufaxen!

[Zaharoff]

DUBIOSE AKTIEN
Dummenfang im Dotcom-Stil

Von Arvid Kaiser

Kleine Firmen, große Versprechen, extreme Aktienkurse - und das Risiko gigantischer Verluste: Diese Regel aus der Dotcom-Ära gilt für manche Unternehmen noch immer. Ihr Geheimnis: Ihre Geschäftsideen klingen märchenhaft.

Hamburg - "Trinkwasser aus der Luft" ist die Werbebotschaft von Hubert Hamm. Der ehemalige Bergmann aus Herten im Ruhrgebiet hat eine revolutionäre Idee aus dem Schacht an die Börse gebracht. Geräte, die Werkshallen kühlen, sollen gleichzeitig Luftfeuchtigkeit zu Trinkwasser kondensieren. Zugleich soll aus Abwärme Strom entstehen. "Damit wären gleich zwei Probleme der Menschheit gelöst", verkündet seine Firma Aqua Society Chart zeigen unbescheiden auf ihrer Homepage.

In der Hertener Firmenhalle sieht es ein wenig aus wie in Daniel Düsentriebs Tüftlerwerkstatt. Das "Energiemodul" ist ein Apparat aus Kesseln, Rohren und Rädern mit Antriebsriemen, dessen Oberfläche stark an handelsübliche Alufolie erinnert. "Ich halte das alles für Dummenfang", sagt Matthias Schrade, Geschäftsführer des auf Nebenwerte spezialisierten Düsseldorfer Analysehauses GSC.

(...)

http://www.spiegel.de/wirtschaft/0,1518,470322,00.html

[krofisch]

Antwort auf Beitrag Nr.: 28.207.884 von Zaharoff am 09.03.07 18:42:29

Du bist aber wieder mal sehr spät dran. Das wurde hier nämlich schon x-Mal vor dir von anderen gepostet!

[krofisch]

Antwort auf Beitrag Nr.: 28.207.884 von Zaharoff am 09.03.07 18:42:29

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 28.207.792 von krofisch am 09.03.07 18:37:34

Was interessieren mich alte Kamellen von letzten Jahr, ich finde es nur witzig, daß ihr es nicht schafft das so einzustellen daß man auch was sieht.
Komischerweise klappt das ja bei allen anderen Nachrichten auf eurer Hompepage nur bei dieser nicht. Habt ihr euren "IT-Spezialisten" entlassen, seit ihr jetzt nur noch 7?

[krofisch]

Antwort auf Beitrag Nr.: 28.208.017 von wohinistmeinGeld am 09.03.07 18:49:04

daß ihr es
auf eurer
Habt ihr

Hast du evtl. eine Leseschwäche?

Oder hast du dies hier nicht richtig verstanden?

#5074 von krofisch 09.03.07 18:37:34 Beitrag Nr.: 28.207.792
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Folgende Antwort bezieht sich auf Beitrag Nr.: 28195872 von wohinistmeinGeld am 09.03.07 00:29:24
--------------------------------------------------------------------------------
dann öffne mal den Link von einem anderen Computer und nicht von dem in der Firma wo ihr ihn eingestellt habt.

Ich habe selten so herrlich und ausgiebig gelacht!

1.) Ich habe den LINK für den
Bericht Kommunalwirtschaft Ausgabe Januar 2007
http://www.aqua-society.com/DOWNLOADS/Presseartikel/Kommunal…
von meinem privaten PC ohne Probleme öffnen können

2.) \'Wir\' haben den LINK und die PDF-Datei nicht auf die AQUA-Homepage gestellt, da \'meine\' Firma gar nichts mit AQUA zu tun hat.

3.) Zur Erinnerung: AQUA ist eine Privatfirma und beschäftigt daher keine Beamten aus dem öffentlichen Dienst!

Also z. B.:
1.) Adobe Reader 8 installieren
2.) LINK drücken
3.) Warten bis sich die herrliche pdf.Datei öffnet!

Der LINK ist übrigens auch auf der AQUA-Homepage!

Oder einfach neuen PC + DSL anschaffen.

Du kannst mir aber gerne auch deine Fax-Adresse per BM senden, dann kann ich dir den Bericht gerne auch zufaxen!



PS:
Selbst der 'leichte Matrose' konnte die pdf.Datei öffnen!
Warum kannst du es einfach nicht?

[Zaharoff]

#244 von krofisch Benutzerinfo Nachricht an Benutzer Beiträge des Benutzers ausblenden 09.11.04 19:04:28 Beitrag Nr.: 15.053.824
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KaufenVerkaufen einen Beitrag nach oben
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2,50 Dollar sind bei einem Kurs von 1,29 etwa 1,94 Euro.

Ich danke denen, die mir die Aktien vor kurzem für 1,80 €uro verkauft haben.

Hoffentlich gibt es noch mehr Panikverkäufe, damit ich noch mehr und noch günstiger einkaufen kann.

In ein paar Tagen werden sich die Panikverkäufer am liebsten in den H... beissen.







406 von krofisch Benutzerinfo Nachricht an Benutzer Beiträge des Benutzers ausblenden 16.11.04 22:58:59 Beitrag Nr.: 15.124.799
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KaufenVerkaufen einen Beitrag nach oben
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@normalus,
warum denn gleich so gereizt?
Auch ich bin nach ständigem Zukaufen inzwischen mit einer größeren Summe in VG Tech investiert und von der Geschichte voll überzeugt. So lange ich noch flüssige Mittel habe, werde ich auch noch weiter investieren.
Wenn man von einer Sache überzeugt ist, kann man auch ruhig dazu stehen. In einigen Wochen, Monaten oder 1 - 2 Jahren werden wir alle über die derzeitigen niedrigen Kurse lachen.
Wer jetzt zu spät kommt, den bestraft der entgangene Gewinn (frei nach Gorbi).
Trotzdem sollte die Diskussion sachlich und fundiert bleiben.
Gegenseitige Vorwürfe oder vage Andeutungen helfen keinem weiter.
Wissen, ein ruhiger Kopf und Geduld sind im Aktiengeschäft unerlässlich.
Daher nochmals: Wenn schon Andeutungen auf Meldungen, etc., dann bitte etwas genauer.
Ich kann jedenfalls nach meiner Einschätzung sehr gut mit der VG Tech Investition schlafen (frei nach Costolani).
Weiterhin gute Gewinne.




632 von krofisch Benutzerinfo Nachricht an Benutzer Beiträge des Benutzers ausblenden 24.11.04 16:40:23 Beitrag Nr.: 15.182.604
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KaufenVerkaufen einen Beitrag nach oben
einen Beitrag nach unten
normalus hat überhaupt keine nachprüfbaren Quellen.
Er verbreitet nur wilde Gerüchte.
Ich habe jedenfalls heute bei knapp über 2,40 wieder ein paar Schnäppchen nachgekauft.






#1236 von krofisch Benutzerinfo Nachricht an Benutzer Beiträge des Benutzers ausblenden 13.01.05 21:38:03 Beitrag Nr.: 15.522.102
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KaufenVerkaufen einen Beitrag nach oben
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@tradersix:

GF bekommt von AQAS Provision für jeden vermittelten Auftrag.
Dies ist jedoch bei jungen Firmen nichts ungewöhnliches.

Eine Firma wie AQAS muss erst bekannt werden, bevor sie von selber richtig an der Börse läuft.

Bei derartigen Aktien muss man jedoch einen langen Atem haben.

Wer ängstlich ist und bei jedem kleinen Kursausschlag nach unten feuchte Hände bekommt, sollte die Aktie lieber verkaufen.

Wer jedoch an die Story der Firma glaubt, sollte sich ruhig zurücklehnen.

Auch andere (heutige) große Firmen haben mal in einer Garage angefangen!

Wer da von Anfang an dabei war, lacht heute nur noch über die Cent-Schwankungen von damals.

Also Angsthasen:
Verkaufen und dabei immer an die neue Regelung bzw. der Finanzamtsmitteilungen denken!!!
Alle Kurzfrist-Aktiengeschäfte sind dem Finanzamt dank Eichel demnächst bekannt. Von jedem Cent Gewinn profitiert innerhalb der ersten 12 Monate zu gut einem Drittel der Staat.

Dann bleiben endlich nur noch die Investoren übrig.

Ich bleibe weiterhin voll investiert und werden noch zu kaufen bevor der Kurs zu stark ansteigt.




#1339 von krofisch Benutzerinfo Nachricht an Benutzer Beiträge des Benutzers ausblenden 02.02.05 15:02:35 Beitrag Nr.: 15.695.590
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KaufenVerkaufen einen Beitrag nach oben
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Danke Daytrader und Angsthasen:

Habe gerade noch einmal zu 1,66 zugeschlagen.




#1505 von krofisch Benutzerinfo Nachricht an Benutzer Beiträge des Benutzers ausblenden 25.02.05 10:23:24 Beitrag Nr.: 15.915.436
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KaufenVerkaufen einen Beitrag nach oben
einen Beitrag nach unten
Ich habe mich vor den Aqua-Zahlen am Donnerstag noch einmal zu Schnäppchenpreisen eingedeckt und den Sekt für nächste Woche kalt gestellt.






#1530 von krofisch Benutzerinfo Nachricht an Benutzer Beiträge des Benutzers ausblenden 01.03.05 07:48:26 Beitrag Nr.: 15.950.112
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@welltom:

Ich beurteile Aktien nicht nach den Telefon-Verkäufern (X-Trade, Göttler, etc.) sondern nur nach den Zukunftsaussichten eines Unternehmens.
Da diese bei AQUA mehr als rosig sind, habe ich gestern wegen zu schwachem Umsatz in D noch mal in USA ein Schnäppchen (5.000 Stück zu 2,44 $) nachgekauft.

Wer jetzt ausgestiegen oder immer noch nicht eingestiegen ist, ist selber schuld.





#1618 von krofisch Benutzerinfo Nachricht an Benutzer Beiträge des Benutzers ausblenden 14.03.05 11:15:44 Beitrag Nr.: 16.083.904
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KaufenVerkaufen einen Beitrag nach oben
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Ich hoffe, die Konsolidierung geht mit den steigenden Umsätzen und Kursen bald dem Ende entgegen:

AQUA SOCIETY INC. REGISTERED SHARES NEW DL-,001
WKN: A0DPH0 ISIN: US03841C1009 Branche: Land:

Times & Sales
Uhrzeit Kurs letztes Volumen kumuliert
10:49:12 1,97 200 52.940
10:19:40 1,97 1.000 52.740
10:00:00 1,95 20.000 51.740
09:56:18 1,97 1.000 31.740
09:54:36 1,96 25.400 30.740
09:50:36 1,90 110 5.340
09:28:44 1,88 1.500 5.230
09:12:08 1,90 230 3.730
09:02:04 1,85 3.500 3.500

An alle Lemminge:
Vielen Dank für mein heutiges Schnäppchen!





#5225 von krofisch 23.06.06 11:20:07 Beitrag Nr.: 22.241.135
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Folgende Antwort bezieht sich auf Beitrag Nr.: 22240415 von Borealis am 23.06.06 10:51:54
--------------------------------------------------------------------------------
Dafür geht es sehr bald wieder sehr steil nach oben!!!!

Ich habe jedenfalls heute wieder ein großes Schnäppchen gemacht!




#5226 von krofisch 23.06.06 11:39:21 Beitrag Nr.: 22.241.575
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Folgende Antwort bezieht sich auf Beitrag Nr.: 22241135 von krofisch am 23.06.06 11:20:07
--------------------------------------------------------------------------------
Und noch ein Schnäppchen!!!!
Danke!!!!!!








#5251 von krofisch 23.06.06 16:58:37 Beitrag Nr.: 22.249.461
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KÄUFERMARKT!!!!!

Geld 0,45 50.000
Brief 0,47 10.000

Times & Sales Uhrzeit Kurs Volumen letztes kumuliert
16:37:35 0,46 37.600 383.090

[krofisch]

Antwort auf Beitrag Nr.: 28.208.173 von Zaharoff am 09.03.07 18:57:19

Bitte veröffnetliche doch meine ganzen Postings hier noch einmal!

[krofisch]

Antwort auf Beitrag Nr.: 28.208.173 von Zaharoff am 09.03.07 18:57:19

Ich finde es super, dass dich meine Postings auch schon am 09.11.04 19:04:28 so sehr fasziniert haben!

[krofisch]

Antwort auf Beitrag Nr.: 28.208.173 von Zaharoff am 09.03.07 18:57:19

Andere haben allein in den letzten Tagen riesige Gewinne gemacht:

[krofisch]

Antwort auf Beitrag Nr.: 28.208.173 von Zaharoff am 09.03.07 18:57:19

Wie schön, dass dir nichts neues sachliches mehr einfällt!

[krofisch]

Antwort auf Beitrag Nr.: 28.208.173 von Zaharoff am 09.03.07 18:57:19

Wie oft hast du das Posting mit Einträgen u. a. aus 2004 hier eigentlich schon kopiert?

Du solltest es wenigstens mal aktuallisieren!

[Leichtmatrose]

Antwort auf Beitrag Nr.: 28.208.141 von krofisch am 09.03.07 18:55:44

Und wie beha(e)mmert ist das denn:
Da veröffentlicht irgendso ein Blättchen gegen Entgelt eine PM, der Auftraggeber stellt den "Bericht" auf seiner HP ein und lässt seinen Propagandafisch ein Riesengeschrei drum machen!

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 28.208.427 von krofisch am 09.03.07 19:13:26

Gott sei Dank muß man nie von dir kopierte Beiträge doppelt lesen.

[wohinistmeinGeld]

Tja, Leute, heute ist es 1 Woche her als ich an Aqua geschrieben hatte,- Antwort? leider wieder Fehlanzeige.

[Zaharoff]

Antwort auf Beitrag Nr.: 28.208.385 von krofisch am 09.03.07 19:10:39

"Andere haben allein in den letzten Tagen riesige Gewinne gemacht:"

Erzählen sie uns doch nochmal, welch riesige Gewinne sie gemacht haben:







#244 von krofisch Benutzerinfo Nachricht an Benutzer Beiträge des Benutzers ausblenden 09.11.04 19:04:28 Beitrag Nr.: 15.053.824
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KaufenVerkaufen einen Beitrag nach oben
einen Beitrag nach unten
2,50 Dollar sind bei einem Kurs von 1,29 etwa 1,94 Euro.

Ich danke denen, die mir die Aktien vor kurzem für 1,80 €uro verkauft haben.

Hoffentlich gibt es noch mehr Panikverkäufe, damit ich noch mehr und noch günstiger einkaufen kann.

In ein paar Tagen werden sich die Panikverkäufer am liebsten in den H... beissen.







406 von krofisch Benutzerinfo Nachricht an Benutzer Beiträge des Benutzers ausblenden 16.11.04 22:58:59 Beitrag Nr.: 15.124.799
Dieses Posting: versenden | melden | drucken | historischer Thread AQUA SOCIETY INC
KaufenVerkaufen einen Beitrag nach oben
einen Beitrag nach unten
@normalus,
warum denn gleich so gereizt?
Auch ich bin nach ständigem Zukaufen inzwischen mit einer größeren Summe in VG Tech investiert und von der Geschichte voll überzeugt. So lange ich noch flüssige Mittel habe, werde ich auch noch weiter investieren.
Wenn man von einer Sache überzeugt ist, kann man auch ruhig dazu stehen. In einigen Wochen, Monaten oder 1 - 2 Jahren werden wir alle über die derzeitigen niedrigen Kurse lachen.
Wer jetzt zu spät kommt, den bestraft der entgangene Gewinn (frei nach Gorbi).
Trotzdem sollte die Diskussion sachlich und fundiert bleiben.
Gegenseitige Vorwürfe oder vage Andeutungen helfen keinem weiter.
Wissen, ein ruhiger Kopf und Geduld sind im Aktiengeschäft unerlässlich.
Daher nochmals: Wenn schon Andeutungen auf Meldungen, etc., dann bitte etwas genauer.
Ich kann jedenfalls nach meiner Einschätzung sehr gut mit der VG Tech Investition schlafen (frei nach Costolani).
Weiterhin gute Gewinne.




632 von krofisch Benutzerinfo Nachricht an Benutzer Beiträge des Benutzers ausblenden 24.11.04 16:40:23 Beitrag Nr.: 15.182.604
Dieses Posting: versenden | melden | drucken | historischer Thread AQUA SOCIETY INC
KaufenVerkaufen einen Beitrag nach oben
einen Beitrag nach unten
normalus hat überhaupt keine nachprüfbaren Quellen.
Er verbreitet nur wilde Gerüchte.
Ich habe jedenfalls heute bei knapp über 2,40 wieder ein paar Schnäppchen nachgekauft.






#1236 von krofisch Benutzerinfo Nachricht an Benutzer Beiträge des Benutzers ausblenden 13.01.05 21:38:03 Beitrag Nr.: 15.522.102
Dieses Posting: versenden | melden | drucken | historischer Thread AQUA SOCIETY INC
KaufenVerkaufen einen Beitrag nach oben
einen Beitrag nach unten
@tradersix:

GF bekommt von AQAS Provision für jeden vermittelten Auftrag.
Dies ist jedoch bei jungen Firmen nichts ungewöhnliches.

Eine Firma wie AQAS muss erst bekannt werden, bevor sie von selber richtig an der Börse läuft.

Bei derartigen Aktien muss man jedoch einen langen Atem haben.

Wer ängstlich ist und bei jedem kleinen Kursausschlag nach unten feuchte Hände bekommt, sollte die Aktie lieber verkaufen.

Wer jedoch an die Story der Firma glaubt, sollte sich ruhig zurücklehnen.

Auch andere (heutige) große Firmen haben mal in einer Garage angefangen!

Wer da von Anfang an dabei war, lacht heute nur noch über die Cent-Schwankungen von damals.

Also Angsthasen:
Verkaufen und dabei immer an die neue Regelung bzw. der Finanzamtsmitteilungen denken!!!
Alle Kurzfrist-Aktiengeschäfte sind dem Finanzamt dank Eichel demnächst bekannt. Von jedem Cent Gewinn profitiert innerhalb der ersten 12 Monate zu gut einem Drittel der Staat.

Dann bleiben endlich nur noch die Investoren übrig.

Ich bleibe weiterhin voll investiert und werden noch zu kaufen bevor der Kurs zu stark ansteigt.




#1339 von krofisch Benutzerinfo Nachricht an Benutzer Beiträge des Benutzers ausblenden 02.02.05 15:02:35 Beitrag Nr.: 15.695.590
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KaufenVerkaufen einen Beitrag nach oben
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Danke Daytrader und Angsthasen:

Habe gerade noch einmal zu 1,66 zugeschlagen.




#1505 von krofisch Benutzerinfo Nachricht an Benutzer Beiträge des Benutzers ausblenden 25.02.05 10:23:24 Beitrag Nr.: 15.915.436
Dieses Posting: versenden | melden | drucken | historischer Thread AQUA SOCIETY INC
KaufenVerkaufen einen Beitrag nach oben
einen Beitrag nach unten
Ich habe mich vor den Aqua-Zahlen am Donnerstag noch einmal zu Schnäppchenpreisen eingedeckt und den Sekt für nächste Woche kalt gestellt.






#1530 von krofisch Benutzerinfo Nachricht an Benutzer Beiträge des Benutzers ausblenden 01.03.05 07:48:26 Beitrag Nr.: 15.950.112
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KaufenVerkaufen einen Beitrag nach oben
einen Beitrag nach unten
@welltom:

Ich beurteile Aktien nicht nach den Telefon-Verkäufern (X-Trade, Göttler, etc.) sondern nur nach den Zukunftsaussichten eines Unternehmens.
Da diese bei AQUA mehr als rosig sind, habe ich gestern wegen zu schwachem Umsatz in D noch mal in USA ein Schnäppchen (5.000 Stück zu 2,44 $) nachgekauft.

Wer jetzt ausgestiegen oder immer noch nicht eingestiegen ist, ist selber schuld.





#1618 von krofisch Benutzerinfo Nachricht an Benutzer Beiträge des Benutzers ausblenden 14.03.05 11:15:44 Beitrag Nr.: 16.083.904
Dieses Posting: versenden | melden | drucken | historischer Thread AQUA SOCIETY INC
KaufenVerkaufen einen Beitrag nach oben
einen Beitrag nach unten
Ich hoffe, die Konsolidierung geht mit den steigenden Umsätzen und Kursen bald dem Ende entgegen:

AQUA SOCIETY INC. REGISTERED SHARES NEW DL-,001
WKN: A0DPH0 ISIN: US03841C1009 Branche: Land:

Times & Sales
Uhrzeit Kurs letztes Volumen kumuliert
10:49:12 1,97 200 52.940
10:19:40 1,97 1.000 52.740
10:00:00 1,95 20.000 51.740
09:56:18 1,97 1.000 31.740
09:54:36 1,96 25.400 30.740
09:50:36 1,90 110 5.340
09:28:44 1,88 1.500 5.230
09:12:08 1,90 230 3.730
09:02:04 1,85 3.500 3.500

An alle Lemminge:
Vielen Dank für mein heutiges Schnäppchen!





#5225 von krofisch 23.06.06 11:20:07 Beitrag Nr.: 22.241.135
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Folgende Antwort bezieht sich auf Beitrag Nr.: 22240415 von Borealis am 23.06.06 10:51:54
--------------------------------------------------------------------------------
Dafür geht es sehr bald wieder sehr steil nach oben!!!!

Ich habe jedenfalls heute wieder ein großes Schnäppchen gemacht!




#5226 von krofisch 23.06.06 11:39:21 Beitrag Nr.: 22.241.575
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Folgende Antwort bezieht sich auf Beitrag Nr.: 22241135 von krofisch am 23.06.06 11:20:07
--------------------------------------------------------------------------------
Und noch ein Schnäppchen!!!!
Danke!!!!!!








#5251 von krofisch 23.06.06 16:58:37 Beitrag Nr.: 22.249.461
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KÄUFERMARKT!!!!!

Geld 0,45 50.000
Brief 0,47 10.000

Times & Sales Uhrzeit Kurs Volumen letztes kumuliert
16:37:35 0,46 37.600 383.090

[westfale64]

In #5006 (7 Seiten zurückblättern) steht der komplette Aqua-Quartalsbericht. Die für Aqua peinlichen Sachverhalte sind dort rot gekennzeichnet.


In #5062 stehen einige Ausschnitte.




Peinlich für Aqua und seinen Pusher, dass die kritischen Fragen immer wieder auftauchen.
Aber Antworten darauf gibt es wohl erst vor Gericht nachdem die 8-Mann-Klitsche das Zeitliche gesegnet hat - kann ja bei dem lächerlichen cash-Bestand von 100000 nicht mehr lange dauern.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 28.215.296 von Zaharoff am 09.03.07 23:07:46

Er glaubt er hätte Gewinn weil er seine Kaufkurse längst nicht mehr weiß, er kann doch nur ein paar Std weit denken, deshalb muß er die Berichte alle paar Std frisch rein setzen oder er hat sie zu schnell vergessen.

[krofisch]

Antwort auf Beitrag Nr.: 28.208.514 von Leichtmatrose am 09.03.07 19:18:29

gegen Entgelt

wie beha(e)mmert ist das denn: so etwas ohne jeden Beweis hier zu behaupten.
Viele würden dies einfach eine vorsätzliche Falschaussage nennen!

[krofisch]

Antwort auf Beitrag Nr.: 28.208.821 von wohinistmeinGeld am 09.03.07 19:36:50

Gott sei Dank muß man nie von dir kopierte Beiträge doppelt lesen.

Deshalb lies ja auch keiner mehr deine Postings!

[krofisch]

Antwort auf Beitrag Nr.: 28.208.846 von wohinistmeinGeld am 09.03.07 19:38:20

Das kann ja jeder behaupten ohne es beweisen zu können!

Also wo sind die Beweise?

Also was wann wo an wen?

[krofisch]

Antwort auf Beitrag Nr.: 28.215.296 von Zaharoff am 09.03.07 23:07:46

Du bist ja immer noch nicht auf dem Laufenden!

Beiträge aus 2004 !!!!

[krofisch]

Antwort auf Beitrag Nr.: 28.216.130 von westfale64 am 09.03.07 23:54:16

7 Seiten zurückblättern

Sind das nicht scho 8 oder 9 Seiten?

Nicht nur immer kopieren, auch ab un zu aktuallieren!

Aber die typisch eigene westfale64-'Wahrheit' liest ja eh schon lange keiner mehr!

[krofisch]

Antwort auf Beitrag Nr.: 28.216.520 von wohinistmeinGeld am 10.03.07 01:20:04

er kann doch nur ein paar Std weit denken

Das ist ja dann viel länger als du es kannst!

[krofisch]

Antwort auf Beitrag Nr.: 28.216.130 von westfale64 am 09.03.07 23:54:16

steht der komplette Aqua-Quartalsbericht

Der steht im ORIGINAL aber hier:

http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

[Zaharoff]

Das stinkt aber mächtig nach Fisch...






#244 von krofisch Benutzerinfo Nachricht an Benutzer Beiträge des Benutzers ausblenden 09.11.04 19:04:28 Beitrag Nr.: 15.053.824
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KaufenVerkaufen einen Beitrag nach oben
einen Beitrag nach unten
2,50 Dollar sind bei einem Kurs von 1,29 etwa 1,94 Euro.

Ich danke denen, die mir die Aktien vor kurzem für 1,80 €uro verkauft haben.

Hoffentlich gibt es noch mehr Panikverkäufe, damit ich noch mehr und noch günstiger einkaufen kann.

In ein paar Tagen werden sich die Panikverkäufer am liebsten in den H... beissen.







406 von krofisch Benutzerinfo Nachricht an Benutzer Beiträge des Benutzers ausblenden 16.11.04 22:58:59 Beitrag Nr.: 15.124.799
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KaufenVerkaufen einen Beitrag nach oben
einen Beitrag nach unten
@normalus,
warum denn gleich so gereizt?
Auch ich bin nach ständigem Zukaufen inzwischen mit einer größeren Summe in VG Tech investiert und von der Geschichte voll überzeugt. So lange ich noch flüssige Mittel habe, werde ich auch noch weiter investieren.
Wenn man von einer Sache überzeugt ist, kann man auch ruhig dazu stehen. In einigen Wochen, Monaten oder 1 - 2 Jahren werden wir alle über die derzeitigen niedrigen Kurse lachen.
Wer jetzt zu spät kommt, den bestraft der entgangene Gewinn (frei nach Gorbi).
Trotzdem sollte die Diskussion sachlich und fundiert bleiben.
Gegenseitige Vorwürfe oder vage Andeutungen helfen keinem weiter.
Wissen, ein ruhiger Kopf und Geduld sind im Aktiengeschäft unerlässlich.
Daher nochmals: Wenn schon Andeutungen auf Meldungen, etc., dann bitte etwas genauer.
Ich kann jedenfalls nach meiner Einschätzung sehr gut mit der VG Tech Investition schlafen (frei nach Costolani).
Weiterhin gute Gewinne.




632 von krofisch Benutzerinfo Nachricht an Benutzer Beiträge des Benutzers ausblenden 24.11.04 16:40:23 Beitrag Nr.: 15.182.604
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KaufenVerkaufen einen Beitrag nach oben
einen Beitrag nach unten
normalus hat überhaupt keine nachprüfbaren Quellen.
Er verbreitet nur wilde Gerüchte.
Ich habe jedenfalls heute bei knapp über 2,40 wieder ein paar Schnäppchen nachgekauft.






#1236 von krofisch Benutzerinfo Nachricht an Benutzer Beiträge des Benutzers ausblenden 13.01.05 21:38:03 Beitrag Nr.: 15.522.102
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KaufenVerkaufen einen Beitrag nach oben
einen Beitrag nach unten
@tradersix:

GF bekommt von AQAS Provision für jeden vermittelten Auftrag.
Dies ist jedoch bei jungen Firmen nichts ungewöhnliches.

Eine Firma wie AQAS muss erst bekannt werden, bevor sie von selber richtig an der Börse läuft.

Bei derartigen Aktien muss man jedoch einen langen Atem haben.

Wer ängstlich ist und bei jedem kleinen Kursausschlag nach unten feuchte Hände bekommt, sollte die Aktie lieber verkaufen.

Wer jedoch an die Story der Firma glaubt, sollte sich ruhig zurücklehnen.

Auch andere (heutige) große Firmen haben mal in einer Garage angefangen!

Wer da von Anfang an dabei war, lacht heute nur noch über die Cent-Schwankungen von damals.

Also Angsthasen:
Verkaufen und dabei immer an die neue Regelung bzw. der Finanzamtsmitteilungen denken!!!
Alle Kurzfrist-Aktiengeschäfte sind dem Finanzamt dank Eichel demnächst bekannt. Von jedem Cent Gewinn profitiert innerhalb der ersten 12 Monate zu gut einem Drittel der Staat.

Dann bleiben endlich nur noch die Investoren übrig.

Ich bleibe weiterhin voll investiert und werden noch zu kaufen bevor der Kurs zu stark ansteigt.




#1339 von krofisch Benutzerinfo Nachricht an Benutzer Beiträge des Benutzers ausblenden 02.02.05 15:02:35 Beitrag Nr.: 15.695.590
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Danke Daytrader und Angsthasen:

Habe gerade noch einmal zu 1,66 zugeschlagen.




#1505 von krofisch Benutzerinfo Nachricht an Benutzer Beiträge des Benutzers ausblenden 25.02.05 10:23:24 Beitrag Nr.: 15.915.436
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KaufenVerkaufen einen Beitrag nach oben
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Ich habe mich vor den Aqua-Zahlen am Donnerstag noch einmal zu Schnäppchenpreisen eingedeckt und den Sekt für nächste Woche kalt gestellt.






#1530 von krofisch Benutzerinfo Nachricht an Benutzer Beiträge des Benutzers ausblenden 01.03.05 07:48:26 Beitrag Nr.: 15.950.112
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@welltom:

Ich beurteile Aktien nicht nach den Telefon-Verkäufern (X-Trade, Göttler, etc.) sondern nur nach den Zukunftsaussichten eines Unternehmens.
Da diese bei AQUA mehr als rosig sind, habe ich gestern wegen zu schwachem Umsatz in D noch mal in USA ein Schnäppchen (5.000 Stück zu 2,44 $) nachgekauft.

Wer jetzt ausgestiegen oder immer noch nicht eingestiegen ist, ist selber schuld.





#1618 von krofisch Benutzerinfo Nachricht an Benutzer Beiträge des Benutzers ausblenden 14.03.05 11:15:44 Beitrag Nr.: 16.083.904
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Ich hoffe, die Konsolidierung geht mit den steigenden Umsätzen und Kursen bald dem Ende entgegen:

AQUA SOCIETY INC. REGISTERED SHARES NEW DL-,001
WKN: A0DPH0 ISIN: US03841C1009 Branche: Land:

Times & Sales
Uhrzeit Kurs letztes Volumen kumuliert
10:49:12 1,97 200 52.940
10:19:40 1,97 1.000 52.740
10:00:00 1,95 20.000 51.740
09:56:18 1,97 1.000 31.740
09:54:36 1,96 25.400 30.740
09:50:36 1,90 110 5.340
09:28:44 1,88 1.500 5.230
09:12:08 1,90 230 3.730
09:02:04 1,85 3.500 3.500

An alle Lemminge:
Vielen Dank für mein heutiges Schnäppchen!





#5225 von krofisch 23.06.06 11:20:07 Beitrag Nr.: 22.241.135
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Folgende Antwort bezieht sich auf Beitrag Nr.: 22240415 von Borealis am 23.06.06 10:51:54
--------------------------------------------------------------------------------
Dafür geht es sehr bald wieder sehr steil nach oben!!!!

Ich habe jedenfalls heute wieder ein großes Schnäppchen gemacht!




#5226 von krofisch 23.06.06 11:39:21 Beitrag Nr.: 22.241.575
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Folgende Antwort bezieht sich auf Beitrag Nr.: 22241135 von krofisch am 23.06.06 11:20:07
--------------------------------------------------------------------------------
Und noch ein Schnäppchen!!!!
Danke!!!!!!








#5251 von krofisch 23.06.06 16:58:37 Beitrag Nr.: 22.249.461
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KÄUFERMARKT!!!!!

Geld 0,45 50.000
Brief 0,47 10.000

Times & Sales Uhrzeit Kurs Volumen letztes kumuliert
16:37:35 0,46 37.600 383.090

[krofisch]

Antwort auf Beitrag Nr.: 28.218.030 von Zaharoff am 10.03.07 10:25:58

Und wieder nur die herrlichen alten Beiträge aus 2004!

Du solltest deine Sammlung mal vervollständigen und aktuallisieren.
Da gibt es noch viel mehr herrliche Postings!

Weiter so!

[krofisch]

Antwort auf Beitrag Nr.: 28.218.030 von Zaharoff am 10.03.07 10:25:58

[krofisch]

Antwort auf Beitrag Nr.: 28.218.030 von Zaharoff am 10.03.07 10:25:58

Das stinkt aber mächtig nach Fisch...

Schlimmer wäre es aber wenn es nach 'Z' stinken würde!


Fisch ist wenigstens noch genießbar!

[krofisch]

Antwort auf Beitrag Nr.: 28.218.030 von Zaharoff am 10.03.07 10:25:58

Der Erfolg des Lebens besteht nicht darin,
zu tun, was wir lieben,
sondern zu lieben, was wir tun...
Basil Zaharoff
(nicht zu verwechseln mit dem gleichnamigen w.o.-USER:kiss

[westfale64]

11 Postings von Aquas Pusher um die Passagen des Aqua-Quartalsberichtes, die die Aqua-Gründer/Altaktionäre als Abzocker outen, im Thread weiter nach hinten zu schieben.




#5006: Der ganze Quartalsbericht -bis Seite 10 zurückblättern
(die seltsamen Millionenprovisionen, mit denen die sich die Aqua-Bande selbst an den Aktionärsmillionen bedient, die Belege dafür, dass Aqua NOCH NIE eine Maschine verkauft gekriegt hat und die katastrophalen Zahlen dieser 8-Mann-Bude sind rot gekennzeichnet)

#5002: Die wichtigsten Passagen -bis Seite 11 zurückblättern




Der letzte verbliebene Aqua-Pusher sollte darüber nachdenken, dass es bei dieser Schadenshöhe auch für Beihilfe zum Betrug keine Bewährung gibt.
Aber die Betrugsprozesse beginnen natürlich erst sobald die Bude Insolvenz angemeldet hat (kann bei dem lächerlichen cash-Bestand von 100000 ja nicht mehr lange dauern). Dann hat auch der dümmste Lemming kapiert wie er hier verschaukelt wurde.

[Leichtmatrose]

Antwort auf Beitrag Nr.: 28.217.700 von krofisch am 10.03.07 09:52:18

Dann hamm se halt nichts dafür kassiert.

Es ist aber ziemlich dummdreist so zu tun, als würde es sich bei dem Abdruck der eigenen Pressemeldung um einen eigenständigen "Bericht" dieses Kommunalblättchens handeln!

[wohinistmeinGeld]

!

Dieser Beitrag wurde vom System automatisch gesperrt. Bei Fragen wenden Sie sich bitte an [e-mail]

[Leichtmatrose]

Antwort auf Beitrag Nr.: 28.218.260 von krofisch am 10.03.07 10:50:55

Der Erfolg des Lebens besteht nicht darin,
zu tun, was wir lieben,
sondern zu lieben, was wir tun...

Fischmotto:
sondern zu lieben, was wir tun...

wie beschimpfen, verhöhnen, beleidigen, herabsetzen

[Keatanu]

!

Dieser Beitrag wurde vom System automatisch gesperrt. Bei Fragen wenden Sie sich bitte an [e-mail]

[Leichtmatrose]

!

Dieser Beitrag wurde vom System automatisch gesperrt. Bei Fragen wenden Sie sich bitte an [e-mail]

[krofisch]

Antwort auf Beitrag Nr.: 28.219.058 von Leichtmatrose am 10.03.07 13:15:09

Dann hamm se halt nichts dafür kassiert.


Schön, dass du deine frühere Falschbehauptung damit zurückgezogen hast!

[krofisch]

Antwort auf Beitrag Nr.: 28.220.983 von wohinistmeinGeld am 10.03.07 18:01:40

Mich ärgert schon wieder das Porto für die gar nicht geschriebenen Briefe?

Und das im Zeitalter des kostenlosen Mailverkehrs!

Wer es glaubt!?

[krofisch]

Antwort auf Beitrag Nr.: 28.222.273 von Keatanu am 10.03.07 19:53:01

überhaupt im Leben Erfolg hat

Wenn du mich kennen würdest, würdest du vor Neid erblassen!

[krofisch]

Antwort auf Beitrag Nr.: 28.218.669 von westfale64 am 10.03.07 11:59:03

Schon wieder eine verzweifelte Kopie der Kopie!

Die wie vielte Kopie ist das eigentlich schon?

[krofisch]

Antwort auf Beitrag Nr.: 28.218.669 von westfale64 am 10.03.07 11:59:03

Alle warten hier nun schon seit über 2 Jahren, dass du endlich mal Anzeige erstattest!

Aber du traust dich ja nicht mal dort hinzugehen!

Wo vor hast du nur solche Angst?

Deine täglich mehrfach kopierten leeren Drohungen führen schon zu regelrechten Lachkrämpfen!

[krofisch]

Antwort auf Beitrag Nr.: 28.218.669 von westfale64 am 10.03.07 11:59:03

Wie gut, dass du diesen 'Wunsch-Traum' nun schon über 2 Jahre träumst!

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 28.229.771 von krofisch am 11.03.07 14:35:28

Mails habe ich schon vor über 1 Jahr genug geschrieben ohne Antwort zu bekommen, immerhin kann man das noch damit begründen es wäre zwischen den Spams verloren gegangen. Die gute alte Post ist immer noch das zuverlässigste, außerdem will ich ein Prospekt oder Katalog in der Hand halten und nicht auf dem Computerbildschirm.
Aber Antwort wird man von so einem Saftladen nie bekommen, weder per Mail noch mit der Post.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 28.229.884 von krofisch am 11.03.07 14:41:05

warum sollte jemand Anzeige erstatten der keine Aktien hat und deshalb auch nicht betrogen wurde? Wenn das nicht die Betrogenen selbst machen, wenn ihnen das egal ist, dann haben die Betrüger eben Glück gehabt, aber irgendwann wird schon einer kommen.

[westfale64]

Und schon wieder 6 Postings von Aquas Pusher um die Passagen des Aqua-Quartalsberichtes, die die Aqua-Gründer/Altaktionäre als Abzocker outen, im Thread weiter nach hinten zu schieben.




#5006: Der ganze Quartalsbericht
(die seltsamen Millionenprovisionen, mit denen die sich die Aqua-Bande selbst an den Aktionärsmillionen bedient, die Belege dafür, dass Aqua NOCH NIE eine Maschine verkauft gekriegt hat und die katastrophalen Zahlen dieser 8-Mann-Bude sind rot gekennzeichnet)

#5002: Die wichtigsten Passagen




Der letzte verbliebene Aqua-Pusher sollte darüber nachdenken, dass es bei dieser Schadenshöhe auch für Beihilfe zum Betrug keine Bewährung gibt.
Aber die Betrugsprozesse beginnen natürlich erst sobald die Bude Insolvenz angemeldet hat (kann bei dem lächerlichen cash-Bestand von 100000 ja nicht mehr lange dauern). Dann hat auch der dümmste Lemming kapiert wie er hier verschaukelt wurde.

[krofisch]

Antwort auf Beitrag Nr.: 28.232.067 von wohinistmeinGeld am 11.03.07 16:35:41

Sehr komisch, du behauptest immer sehr viel und kannst immer gar nichts beweisen.

Das passt einfach nicht zusammen!

Behauptungen ohne jeden Beweis sind aber nur NULL-Inforamtionen ohne jeden Wert!

[krofisch]

Antwort auf Beitrag Nr.: 28.254.678 von westfale64 am 12.03.07 15:06:11

Komisch, schon wieder nur eine typische westfale64-Kopie!

[krofisch]

Antwort auf Beitrag Nr.: 28.254.678 von westfale64 am 12.03.07 15:06:11

Und schon wieder nur der zum x-ten Mal widerholte verzweifelte Hinweis auf die eigenen Postings mit der eigenen westfale64-Wahrheit!

[krofisch]

Antwort auf Beitrag Nr.: 28.254.678 von westfale64 am 12.03.07 15:06:11

Der ORIGINAL-Quartalsbericht steht dafür hier:

http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

[krofisch]

Antwort auf Beitrag Nr.: 28.254.678 von westfale64 am 12.03.07 15:06:11

dass es bei dieser Schadenshöhe auch für Beihilfe zum Betrug keine Bewährung gibt.

Da es keine Beihilfe zum Betrug gibt und du dich ja bekanntermaßen nicht traust, endlich mal nach über 2 Jahren Drohungen in der o. g. sehr unterhaltsamen und lustigen Art und Weise zu erstatten, lachen darüber selbst die Staatsanwälte, etc.

[westfale64]

Antwort auf Beitrag Nr.: 28.257.352 von krofisch am 12.03.07 17:36:35

Wie immer gibt Aquas Pusher auf kritische Fragen keine Antworten sondern versucht diese mit seinen überwiegend inhaltsfreien Postings nach hinten zu schieben.

Erklären Sie lieber wofür sich die Gebrüder Grimm (die Gründer/Altaktionäre dieser Abzockklitsche)aus dem Aktionärsvermögen per "management consulting contract" selbst(!)mit Millionensummen bedienen:
Hier die Auszüge AUS AQUAS EIGENEM QUARTALSBERICHT, die diese Selbstbedienung belegen:

„Included in accounts payable and accrued liabilities is $77,498 (September 30, 2006: $79,358) due to directors of the Company and a former director of the Company.“Wofür kassieren die Direktoren dieser 8-Mann-Klitsche, die es im letzten Quartal gerade mal auf (verlustbringende)25000 Umsatz gebracht hat, 77000 Gehalt ?



„Included in loans payable is $1,527,238 (September 30, 2006: $1,441,507) due to a law firm of which a former director of the Company is a partner.“Wofür kassiert Direktor Stamm 1,5 Mio. Lohn ?

„By a management consulting contract dated September 30, 2004 and effective October 1, 2004, the Company’s subsididary (“GmbH”) agreed to pay EUR15,000 (US $19,789) per month to a managing director of GmbH“Wofür kassiert der nächste Direktor dieser Klitsche15000 im Monat ?



„By a management consulting contract dated December 12, 2005 and effective January 1, 2006, the GmbH agreed to pay EUR 20,000 (US $25,371) per month to March 31, 2006 and EUR 25,000 (US $31,714) per month to December 31, 2006 for technical services. Effective September 18, 2006, the contract was amended and the payment was decreased to EUR 10,000 (US$ 12,686) per month and extended to June 30, 2007. The management consulting contract is with a company owned by a director of the Company.“Für welche Leistung wird eine Firma des Direktors mit 10000-25000 entlohnt ?



„By management consulting agreements dated December 28, 2006, the Company agreed to pay directors of the Company a total of EUR 56,000 (US $73,879) for the period October 1, 2006 to December 31, 2006 and EUR 14,000 (US $18,470) per month for the period January 1, 2007 to September 30, 2007.“Wofür kriegen die Direktoren weitere 56000 im Quartal ?



„We anticipate spending approximately $2,000,000 in pursuing our plan of operation over the next twelve months. As of December 31, 2006, the date of our most recently available financial statements, we had a working capital deficit of $3,017,690. As such, we do not have sufficient working capital to meet our expected needs over the next twelve months. Although we have recently begun to earn revenues, we have not yet earned a net profit and we do not expect to achieve profitability in the near Future as we expect to continue to incur substantial product development, marketing and operating expenses.“2 Mio. brauchen diese Abzocker für die nächsten 12 Monate, damit sie das Aktionärsgeld weiterhin für ihre Gehaltszahlungen, „management fees“ u. ä. aussaugen können. Und das bei mittlerweile 3 Mio. Überschuldung.

„During our last fiscal year, we earned revenues from HVAC&R and energy optimization consulting services, and from equipment sales made in connection with the provision of those services.“Da kommen die verlustbringen Umsätze her. Herr Hamm lässt sich von den Aktionären nicht nur mit „management fees“ und Vorstandsgehältern bezahlen sondern auch noch als Auftragnehmer (HVAC&R)




„During the fiscal year ended December 31, 2006, our revenue decreased by 96.7% as compared to the same period ended in 2005.“Und selbst diese „Umsätze“ sind fast bei 0 angekommen.

„Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products,“Und hier der Beleg dafür, dass dieser Industriesimulator NOCH NIE eine Maschine verkauft gekriegt hat.


„Included in current liabilities are a total of $1,527,238 payable to a law firm of which one of our former officers and directors, is a partner. We are currently in negotiations with the former officer and director for the settlement of the amounts owed to him and his law firm.“Wofür kassiert Stamm diese 1,5 Mio. ?


„As at December 31, 2006 we had cash in the amount of $108,837 and a working capital deficit of $3,017,690.“Nur noch 100000 in der Kasse, aber 3 Mio. Überschuldung.

„We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability. We are likely to continue to need substantial additional financing in order to implement our long term business plan.“Und hier noch mal der Hinweis auf die drohende Insolvenz mangels Masse.

[krofisch]

Antwort auf Beitrag Nr.: 28.257.746 von westfale64 am 12.03.07 18:03:17

Und die nächste Kopie unseres beliebten westfale64!

[krofisch]

Antwort auf Beitrag Nr.: 28.257.746 von westfale64 am 12.03.07 18:03:17

Warum erstattest du nicht nach über 2 Jahren leerer Drohungen endlich Anzeige?

Angst vor der Blamage?

[krofisch]

Antwort auf Beitrag Nr.: 28.257.746 von westfale64 am 12.03.07 18:03:17

Herrlich diese 'westfale64-Interpretationen'!

[krofisch]

Antwort auf Beitrag Nr.: 28.257.746 von westfale64 am 12.03.07 18:03:17

Der ORIGINAL-Quartalsbericht steht dafür hier:

http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…



oder in #5118

[krofisch]

Antwort auf Beitrag Nr.: 28.257.746 von westfale64 am 12.03.07 18:03:17

Wenn man das Original lesen kann, braucht man keine westfale64-'Wahrheiten'!

[krofisch]

Antwort auf Beitrag Nr.: 28.258.236 von krofisch am 12.03.07 18:30:41

http://www.bmz.de/de/EU_G8/Teaserseite_Aktuelles/AktuelleMel…



Umfassende und langfristige Energiepartnerschaft mit Afrika auch im Interesse Europas

Berlin, 08.03.2007

"Eine umfassende und langfristige Energiepartnerschaft ist im beiderseitigen Interesse", erklärte Bundesentwicklungsministerin Heidemarie Wieczorek-Zeul zum Abschluss des Afrika-Europa Energieforums in Berlin. "Dabei geht es um die Verbesserung der Rahmenbedingungen für Investitionen, um erhöhte Mittel für Energieinvestitionen und um Transparenz bei den Öl- und Gaseinnahmen. Gleichzeitig müssen angesichts des Klimawandels erneuerbare Energien verstärkt ausgebaut werden."

Auf Einladung des Bundesministeriums für wirtschaftliche Zusammenarbeit und Entwicklung (BMZ) und der Europäischen Kommission waren rund dreihundert Expertinnen und Experten aus Europa und Afrika zusammengekommen, um die Zusammenarbeit Europas und Afrikas im Energiebereich zu intensivieren. Als Ergebnis des zweitägigen Dialogs wurden Empfehlungen formuliert, mit denen sich der Rat der Europäischen Union im Mai befassen wird. Das Ziel ist, auf dem EU-Afrika-Gipfel in Lissabon im Herbst 2007 eine Partnerschaft für nachhaltige Energie zu vereinbaren.

Die Konferenz spricht folgende Empfehlungen aus:

Kooperation zwischen Afrika und Europa stärken: Afrika ist reich an Energien. Eine Stärkung der Kooperation zwischen Afrika und Europa ist zu beiderseitigem Nutzen: Eine sichere Energieversorgung, Klimaschutz und eine nachhaltige Armutsbekämpfung sind Ziele, die nur gemeinsam zu erreichen sind. Der Ausbau von erneuerbaren und besonders effizienten Energien kann wesentlich dazu beitragen.

Finanzierung: Um Afrikas Energiebedarf zu decken, reichen die Gelder aus der Entwicklungszusammenarbeit nicht aus. Daher müssen neue Wege bei der Finanzierung gegangen werden: Afrikanische Ressourcen, insbesondere aus dem Ölgeschäft, Gebermittel und Mittel aus der Privatwirtschaft müssen eingesetzt werden. Auf EU-Ebene sollten mehr Mittel für Energie bereitgestellt werden.

Klimawandel: Afrika leidet besonders unter dem Klimawandel, obwohl der Kontinent kaum zu den klimaschädlichen Emissionen beiträgt. Naturkatastrophen, schlechtere Wasserversorgung, Zunahme von tropischen Krankheiten sind nur einige der Folgen. Hier sind die Industrieländer besonders dazu aufgerufen, die notwendigen Anpassungsmaßnahmen auch mitzufinanzieren.

Einvernehmlich wurde betont, dass nicht nur die Zusammenarbeit zwischen Afrika und Europa, sondern auch die regionale Zusammenarbeit und Solidarität in Afrika gestärkt und unterstützt werden muss.

[westfale64]

Antwort auf Beitrag Nr.: 28.260.216 von krofisch am 12.03.07 20:15:04

Was hat das mit Aqua zu tun, Pusher ?






#5120 und dem Aqua-Pusher fällt nicht ein wie er diese Selbstbedienung erklären soll.
Was für eine peinliche Type.

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 28.260.828 von westfale64 am 12.03.07 20:49:49

naja, schon einiges, nämlich so viel wie Krofischchen mit Intelligenz zu tun haben

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 28.262.860 von wohinistmeinGeld am 12.03.07 22:38:03

Da fällt mir ein, da war doch noch was vor fast 2 Jahren.

Im Fokus des Unternehmens aus Herten/NRW: Vermarktung deutscher Spitzentechnologie

- 11. April 2005 -

Mit einem eigenen Hauptstadtbüro will das Technologieunternehmen Aqua Society die Vermarktung seiner Spezialprodukte aus dem Bereich, Kälte, Wasser und Energie weiter vorantreiben. Von der Berliner Repräsentanz aus sollen nach dem Willen der Geschäftsführung zusätzliche Impulse zur Entwicklung weiterer Geschäftsfelder ausgehen. Auch die Lobbyarbeit der Aqua-Society-Gruppe wird seit April in der Bundeshauptstadt koordiniert.

Irgendwie klappt das mit dem Vorantreiben der Vermarktung der Spezialprodukte nicht. Die koordination der Lobbyarbeit Aquas ist aber auch verdammt schwierig bei der Unmenge von Spezialprodukten und Schlange stehenden Kunden. Und für die Entwicklung weiterer Geschäftsfelder ist da natürlich keine Zeit mehr. Vielleicht sollte man einfach noch mal 2 Leute einstellen, dann ist man mit 10 doch schon unter den Großen der Weltkonzerne.


Wir suchen die Nähe zu den Entscheidern in Politik, Wirtschaft und Verbänden, denn das Unternehmen Aqua-Society hat der Welt etwas anzubieten

http://www.aqua-society.com/news/d110405.html

Politik, Wirtschaft und Verbände suchen wohl eher das weite wenn sie Aqua hören, oder warum kommen da seit fast 2 Jahren keine Aufträge?
Man könnte ja mal dort jemand fragen ob sie schon mal was vo Aqua Society gehörtb haben.

[Leichtmatrose]

Antwort auf Beitrag Nr.: 28.260.828 von westfale64 am 12.03.07 20:49:49

Das hat gewiss der Hauptstadtrepräsentant und FDP-Landtags- und Europa-Kandidat Michael Stroh eingefädelt.
http://www.aqua-society.com/news/d110405.html


Und dazu noch diese Luftnummer:
http://www.aqua-society.com/news/d010305.html

[Leichtmatrose]

Antwort auf Beitrag Nr.: 28.263.931 von Leichtmatrose am 13.03.07 00:55:26

kleine Korrektur:
Ex-Hauptstadtrepräsentant und Ex-FDP-Landtags- und Ex-Europaparlaments-Kandidat für Brandenburg Michael Stroh

[westfale64]

Und das muss der abgezockte Aqua-Aktionär nach Dutzenden solcher Auftragsmärchen im Quartalsbericht lesen:



„Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products,“

Hier ist der Beleg dafür, dass dieser Industriesimulator NOCH NIE eine Maschine verkauft gekriegt hat. In Aquas Quartalsbericht zu lesen und der Pusher weiss keine Ausreden mehr.


siehe #5120


Ich nenne sowas Betrug.

[krofisch]

Antwort auf Beitrag Nr.: 28.274.017 von westfale64 am 13.03.07 16:31:57

Nach den etwas merkwürdigen westfal64-'Interpretationen' hier das ORIGINAL:

http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

10QSB 1 form10qsb.htm QUARTERLY REPORT FOR THE PERIOD ENDED DECEMBER 31, 2006
--------------------------------------------------------------------------------

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-QSB

(Mark One)

[ X ] Quarterly Report Under Section 13 Or 15(d) Of The Securities Exchange Act Of 1934
For the quarterly period ended December 31, 2006

[ ] Transition Report Under Section 13 Or 15(d) Of The Securities Exchange Act
For the transition period from ________to ________

COMMISSION FILE NUMBER 000-50163

AQUA SOCIETY, INC.
(Exact name of small business issuer as specified in its charter)

NEVADA 52-2357931
(State or other jurisdiction of incorporation or (IRS Employer Identification No.)
organization)

Konrad - Adenauer Strasse 9-13
45699 Herten, Germany
(Address of principal executive offices)

011-49-6031-791-760
Issuer's telephone number

Not Applicable
Former name, former address and former fiscal year, if changed since last report

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 [ X ] No [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: As of February 20, 2007 the Issuer had 118,178,323 Shares of Common Stock outstanding.

Transitional Small Business Disclosure Format (check one): Yes [ ] No [X]

1


--------------------------------------------------------------------------------

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

2


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.

INTERIM CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2006

(Stated in US Dollars)

(Unaudited)


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED BALANCE SHEETS
December 31, 2006 and September 30, 2006
(Stated in US Dollars)
(Unaudited)

December 31, September 30,
ASSETS 2006 2006

Current
Cash $ 108,837 $ 187,432
Accounts receivable – trade 76,838 143,039
– other – Note 4 59,367 -
Government value added tax receivable 97,631 217,919
Inventory 332,389 306,569
Loans receivable 1 1

675,063 854,960
Investments – Note 3 2 2
Patents and patent rights 193,485 193,485
Equipment 53,811 65,343

$ 922,361 $ 1,113,790

LIABILITIES

Current
Accounts payable and accrued liabilities – Note 4 $ 527,018 $ 537,271
Loans payable – Notes 4 and 5 3,165,735 2,377,099

3,692,753 2,914,370

STOCKHOLDERS’ DEFICIENCY

Common stock, $0.001 par value – Notes 6 and 8
300,000,000 shares authorized
118,178,323 shares issued and outstanding (September 30, 2006:
118,178,323 shares) 118,179 118,179
Additional paid-in capital 28,690,854 28,609,612
Accumulated other comprehensive loss (246,705 ) (150,368 )
Accumulated deficit (31,332,720 ) (30,378,003 )

(2,770,392 ) (1,800,580 )

$ 922,361 $ 1,113,790

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Sales $ 25,441 $ 782,242
Less: cost of goods sold 580 593,010

24,861 189,232

General and administrative expenses:
Accounting and audit fees 73,443 57,121
Advertising and promotion 19,329 58,187
Amortization 5,899 6,584
Bad debts 28,431 43,685
Bank charges and interest 117 85
Consulting fees 36,634 177,085
Development costs – Note 4 268,919 412,455
Filing fees 867 121
Interest 57,256 57,088
Legal fees – Note 4 130,228 36,264
Management fees – Note 4 57,988 124,857
Office and miscellaneous 23,270 66,274
Rent 26,154 28,917
Salaries and benefits 154,052 96,888
Stock-based compensation 57,242 -
Transfer agent 225 815
Travel – Note 4 39,524 80,478
Write down of patents - 8,994
Write down of inventory - 63,928

(979,578 ) (1,319,826 )

Operating loss before other item (954,717 ) (1,130,594 )

Other item:
Interest income - 5,292

Net loss for the period (954,717 ) (1,125,302 )

Other comprehensive loss
Foreign currency adjustment (96,337 ) (2,551 )

Comprehensive loss for the period $ (1,051,054 ) $ (1,127,853 )

Basic loss per share $ (0.01 ) $ (0.01 )

Weighted average number of shares outstanding 118,178,323 115,771,988

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Cash flows used in Operating Activities
Net loss for the period $ (954,717 ) $ (1,125,302 )
Items not affecting cash:
Amortization 5,899 6,584
Stock-based compensation 57,242
Write-down of patents - 8,994
Write-down of inventory - 63,928
Interest imputed on loans payable 24,000 -
Changes in non-cash working capital items:
Accounts receivable 10,882 (126,415 )
Government value added tax receivable 126,004 12,329
Inventory (13,251 ) 9,748
Accounts payable and accrued liabilities (23,954 ) 526,835

(767,895 ) (623,299 )

Cash flows used in Investing Activities
Equipment disposal 5,634 48,178
Repayment of loans receivable - (68,388 )

5,634 (20,210 )

Cash flows from Financing Activity
Increase in loans payable 677,508 174,408

Effect of exchange rates on cash 6,158 (7,730 )

Decrease in cash during the period (78,595 ) (476,831 )

Cash, beginning of the period 187,432 658,949

Cash, end of the period $ 108,837 $ 182,118

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Capital stock issued for cash 1 $ 31,042 $ - - $ - $ - $ - $ 31,042
Contribution of assets - - 25,056 - - - - 25,056
Pursuant to the acquisition of Aqua
Society GmbH 10,000,000 10,000 - 34,000,000 34,000 - - 44,000
Exchange of shares (1 ) (31,042 ) - - - - - (31,042 )
Outstanding shares of Company
prior to acquisition 69,908,000 69,908 - - - - (194,748 ) (124,840 )
Unrealized loss on translation - - - - - (997 ) - (997 )
Net loss for the period - - - - - - (67,448 ) (67,448 )

Balance, September 30, 2004 79,908,000 79,908 25,056 34,000,000 34,000 (997 ) (262,196 ) (124,229 )

Issued for cash:
Pursuant to private placement - at $2.40 416,666 417 999,583 - - - - 1,000,000
- at $1.98 1,232,322 1,233 2,438,766 - - - - 2,439,999
Pursuant to exercise of options - at $1.70 215,000 215 365,285 - - - - 365,500
Conversion of special warrants 34,000,000 34,000 - (34,000,000 ) (34,000 ) - - -
Stock-based compensation - - 22,480,000 - - - - 22,480,000
Unrealized gain on translation - - - - - 89,594 - 89,594
Net loss for the year - - - - - - (25,787,558 ) (25,787,558 )

Balance, September 30, 2005 115,771,988 115,773 26,308,690 - - 88,597 (26,049,754 ) 463,306

Pursuant to private placement - at $1.04 1,160,960 1,161 1,206,237 - - - - 1,207,398
- at $0.88 1,245,375 1,245 1,094,685 - - - - 1,095,930
Unrealized loss on translation - - - - - (238,965 ) - (238,965 )
Net loss for the period - - - - - - (4,328,249 ) (4,328,249 )

Balance, September 30, 2006 118,178,323 118,179 28,609,612 - - (150,368 ) (30,378,003 ) (1,800,580 )

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

Continued

AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Stock-based compensation - - 57,242 - - - - 57,242
Unrealized loss on translation - - - - (96,337 ) - (96,337 )
Contribution of interest – Note 5 - - 24,000 - - - - 24,000
Net loss for the period - - - - - - (954,717 ) (954,717 )

Balance, December 31, 2006 118,178,323 $ 118,179 $ 28,690,854 - $ $ (246,705 ) $ (31,332,720 ) $ (2,770,392 )

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2006
(Stated in US Dollars)
(Unaudited)

Note 1 Interim Reporting

While information presented in the accompanying interim consolidated financial statements is unaudited, it includes all adjustments, which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented. All adjustments are of a normal recurring nature. The accompanying interim consolidated financial statements do not include all information and footnote disclosures required for an annual set of financial statements prepared under generally accepted accounting principles in the United States of America. The accompanying interim consolidated financial statements should be read in conjunction with the Company’s September 30, 2006 audited consolidated financial statements. Operating results from the period ended December 31, 2006 are not necessarily indicative of the results that can be expected for the year ending September 30, 2007.


Note 2 Nature and Continuance of Operations

These interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for the next twelve months. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. At December 31, 2006, the Company had not yet achieved profitable operations, has accumulated losses of $31,332,720 since its inception, has a working capital deficiency of $3,017,690 and expects to incur further losses in the development of its business, all of which casts substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations 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 considers that the Company will be able to obtain additional funds by equity financing and/or related party advances; however there is no assurance of additional funding being available.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 2
(Unaudited)

Note 3 Investments

i) UFI Tec GmbH

By an agreement dated November 30, 2004 and effective December 10, 2004, the Company acquired a 33% interest in UFI-Tech GmbH (“UFI”), a German limited company, for consideration of EUR 25,565 (US $32,476). During the year ended September 30, 2005, the Company wrote down the $32,476 investment and related loans receivable of $67,227 to their net realizable value of $1. During the year ended September 30, 2006, the Company sold 13.1% of their 33% interest (19.9% interest remains) for proceeds of EUR 10,072 (US $12,237) and wrote down an additional loan receivable of $66,094 to its net realizable value of $1.

ii) By an agreement dated February 18, 2006, the Company acquired a 51% interest in TMR GmbH (“TMR”), a German limited company, in consideration of EUR 12,750 (US $15,999). TMR is involved in the development, installation, distribution and management of renewable resources. At the date of acquisition, TMR had no business, assets or liabilities. During the year ended September 30, 2006, the Company wrote down its investment by $15,674 (EUR 12,749) to $1. During the three months ended December 31, 2006, the Company disposed of its interest in TMR for $1.

Note 4 Related Party Transactions – Note 7

The Company incurred the following amounts charged by directors of the Company, the brother of a director of the Company and a law firm of which a former director of the Company is a partner:

Three months ended
December 31,
2006 2005

Development costs $ 88,013 $ 191,595
Legal fees - 26,073
Management fees 57,988 124,857
Travel - 1,780

$ 146,001 $ 344,305

Accounts receivable – other includes $59,367 related to an advance to a former officer of the Company.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 3
(Unaudited)

Note 4 Related Party Transactions – Note 7 – (cont’d)

Included in accounts payable and accrued liabilities is $77,498 (September 30, 2006: $79,358) due to directors of the Company and a former director of the Company. These amounts are unsecured, non-interest bearing and have no specific terms for repayment.

Included in loans payable is $1,527,238 (September 30, 2006: $1,441,507) due to a law firm of which a former director of the Company is a partner.

Note 5 Loans Payable

Of the total loans outstanding at December 31, 2006, $950,886 (September 30, 2006: $883,822) bear interest at 7.5% per annum, are secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $773,403 (September 30, 2006: $743,675) are non-interest bearing, secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $1,319,261 (September 30, 2006: $634,276) are non-interest bearing, unsecured and due on demand, and $122,185 (September 30, 2006: $115,326) of loans payable bear interest of 7.5% per annum, are unsecured and are repayable on or before December 31, 2006. The loans due on or before December 31, 2006 were not repaid and are consequently in default. The company has imputed interest on the non-interest bearing loans at 10% per annum for a total of $24,000 during the three months ended December 31, 2006.

Note 6 Capital Stock – Note 8

Commitments:

Share Purchase Options

On December 21, 2006, the Company adopted a second stock incentive plan (the “2006 Stock Option Plan”) to provide incentives to employees, directors, officers and permitted consultants. The 2006 Stock Plan provides for the issuance of up to 7,000,000 options with a term to be determined by the plan administer or, if not so established, ten years. The maximum aggregate number of shares that may be optioned under the 2006 Stock Option Plan will be increased effective the first day of each of the Company’s fiscal quarters (“adjustment date”), beginning with the fiscal quarter commencing April 1, 2007 by an amount equal to the lesser of i) 15% of the outstanding shares on the first day of the applicable quarter less a) the number of shares of common stock that may be optioned and sold under the plan prior to the adjustment date and b) the number of shares of common stock that may be optioned and sold under any other stock option plan in effect as of the adjustment date or ii) such lesser number of shares of common stock as may be determined by the Board.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 4
(Unaudited)

Note 6 Capital Stock – Note 8 – (cont’d)

Commitments: – (cont’d)

Share Purchase Options – (cont’d)

A summary of the stock options outstanding as at December 31, 2006 and changes during the period is presented below:

Weighted
Average
Exercise
Shares Price

Options outstanding at September 30, 2006 7,535,000 $ 1.70
Granted 4,500,000 $ 0.40

Options outstanding at December 31, 2006 12,035,000 $ 1.21

Options exercisable at December 31, 2006 7,535,000

A summary of stock options outstanding at December 31, 2006, is as follows:

Exercise
Number Price Expiry Date

562,500 $0.40 April 1, 2009
562,500 $0.40 July 1, 2009
562,500 0.40 October 1, 2009
7,535,000 $1.70 October 15, 2009
562,500 $0.40 January 1, 2010
562,500 $0.40 April 1, 2010
562,500 $0.40 July 1, 2010
562,500 $0.40 October 1, 2010
562,500 $0.40 January 1, 2011

12,035,000

The Company used the Black-Scholes option pricing model to compute estimated fair value at each of the grant dates.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 5
(Unaudited)

Note 6 Capital Stock – Note 8– (cont’d)

Commitments – (cont’d)

Share Purchase Options – (cont’d)

The Black-Scholes option-pricing model requires the input of highly subjective assumptions including the expected price volatility. Changes in the subjective input assumptions can materially affect the fair value estimate and therefore the Black-Scholes model does not necessarily provide a reliable single measure of the fair value of the Company’s share purchase options.

The Company used the Black-Scholes option pricing model to compute the estimated fair value of the options granted during the three months ended December 31, 2006, based on the following assumptions:

Risk-free interest rate 4.84%
Dividend yield rate 0.00%
Price volatility 159.23%
Weighted average expected life of options 2.03 years
Weighted average fair value $0.36

The Company recognized stock-based compensation of $57,242 during the three months ended December 31, 2006.

Share Purchase Warrants

As at December 31, 2006, a total of 2,406,335 share purchase warrants exercisable into 2,406,335 common shares were outstanding as follows:

Exercise
Number Price Expiry Date

1,169,960 $1.30 February 9, 2008
1,245,375 $1.10 June 15, 2008

2,406,335


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 6
(Unaudited)

Note 7 Commitments

i) Lease Contracts

By four lease agreements dated September 30, 2004 and effective October 1, 2004, the Company entered into four lease contracts for the Company’s corporate head office. The leases require total payments of EUR 6,690 (US$8,826) per month. Two of the leases are effective until May 31, 2007 and the other two are effective until December 31, 2007. The leases will be automatically extended every year unless cancelled with six months advance notice.

Minimum future lease payments

September 30, 2007 $ 80,960
2008 12,144

$ 93,104

ii) Management/Consulting Contracts


a) By a management consulting contract dated September 30, 2004 and effective October 1, 2004, the Company’s subsididary (“GmbH”) agreed to pay EUR15,000 (US $19,789) per month to a managing director of GmbH for development, production and quality assurance services. The managing director of the GmbH is also a director of the Company. This contract is for an unlimited term but may be terminated by either party with six months advance notice.


b) By a consulting agreement dated October 1, 2004, the Company agreed to pay $2,000 per month to a consultant of the Company. The agreement is effective for a term of 5 years. The Company granted 500,000 common stock options upon signing of the agreement. The exercise price of the stock options is $1.70 per share and expires on October 15, 2009.


c) By a management consulting contract dated and effective October 1, 2004, the Company agreed to pay EUR 5,000 (US$6,274) per month for marketing and business development services. Effective October 1, 2005, the contract was amended to increase the payment to EUR 7,500 (US $9,411) per month. Effective October 1, 2006, the contract was amended to EUR 15,000 (US$19,028) per month for October, November and December, 2006. By an agreement dated November 1, 2006 and effective January 11, 2007, the Company agreed to the payment of EUR 2,000 (US $2,638) per month until December 31, 2007 and a 5% commission of gross sales to third parties which occurred as a result of the consultant’s work. The contract automatically renews for one year if not terminated at the end of a year by giving six months advance notice.



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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 7
(Unaudited)

Note 7 Commitments – (cont’d)

ii) Management/Consulting Contracts – (cont’d)

d) By a management consulting contract dated and effective January 1, 2005, the GmbH agreed to pay EUR 5,520 (US $7,002) per month for marketing, sales and distribution services. By an agreement dated November 10, 2006 and effective January 1, 2007, the contract was amended to decrease the payment to EUR 3,750 (US $4,947) per month with additional payments of EUR 10,000 (US $12,686) and EUR 5,000 (US$6,343) in November and December 2006 respectively. The contract ends on December 31, 2007 and may be terminated by either party with three months advance notice.

e) By a management consulting agreement dated August 1, 2005, the GmbH agreed to pay EUR 3,900 (US $5,145) per month for administration services for the research and development department. The contract is for an unlimited term and may be terminated by either party by giving six months advance notice.

f) By a management consulting contract dated December 12, 2005 and effective January 1, 2006, the GmbH agreed to pay EUR 20,000 (US $25,371) per month to March 31, 2006 and EUR 25,000 (US $31,714) per month to December 31, 2006 for technical services. Effective September 18, 2006, the contract was amended and the payment was decreased to EUR 10,000 (US$ 12,686) per month and extended to June 30, 2007. The management consulting contract is with a company owned by a director of the Company.

g) By a management consulting contract dated November 10, 2004, the Company agreed to pay EUR 500 (US $660) per press release to a former director of the Company. This contract is for an unlimited term but may be terminated by either party with one month advance notice.

h) By management consulting agreements dated December 28, 2006, the Company agreed to pay directors of the Company a total of EUR 56,000 (US $73,879) for the period October 1, 2006 to December 31, 2006 and EUR 14,000 (US $18,470) per month for the period January 1, 2007 to September 30, 2007. The contract is for an unlimited term but may be terminated by either party with three months advance notice.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 8
(Unaudited)

Note 8 Subsequent Event

Subsequent to December 31, 2007, the Company approved a private placement offering of 7,500,000 units at $0.30 per unit with each unit consisting of one share of the Company’s common stock and one-half share purchase warrant for total proceeds of $2,250,000. Each share purchase warrant entitles the holder to purchase one additional share of the Company’s common stock at $0.35 per share for a period of one year from the date of issuance of the units.


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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this Quarterly Report constitute "forward-looking statements". These statements, identified by words such as “plan”, "anticipate," "believe," "estimate," "should," "expect" and similar expressions include our expectations and objectives regarding our future financial position, operating results and business strategy. These statements reflect the current views of management with respect to future events and are subject to risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from those described in the forward-looking statements. Such risks and uncertainties include those set forth under the caption "Management's Discussion and Analysis or Plan of Operation" and elsewhere in this Quarterly Report. We do not intend to update the forward-looking information to reflect actual results or changes in the factors affecting such forward-looking information. We advise you to carefully review the reports and documents we file from time to time with the United States Securities and Exchange Commission (the “SEC”), particularly our Annual Reports on Form 10-KSB and our Current Reports on Form 8-K.

As used in this Quarterly Report, the terms "we", "us", "our", “the Company” and “Aqua Society” mean Aqua Society, Inc. unless otherwise indicated. All dollar amounts in this Quarterly Report are in U.S. dollars unless otherwise stated.

INTRODUCTION

The following discussion and analysis summarizes our plan of operation for the next twelve months, our results of operations for the three month period ended December 31, 2006 and changes in our financial condition from September 30, 2006. This discussion should be read in conjunction with the Management’s Discussion and Analysis or Plan of Operation included in our Annual Report on Form 10-KSB for the year ended September 30, 2006.

We were incorporated under the laws of the State of Nevada on March 2, 2000, under the name “V G Tech, Inc.”

On September 22, 2004, we completed the acquisition of Aqua Society GmbH (“Aqua GmbH”). Prior to our acquisition of Aqua GmbH, we were in the business of providing services in the areas of digital graphics and special effects. Upon completing the acquisition of Aqua GmbH, we abandoned this digital imaging business. We are now in the business of designing and developing applied technologies, and providing consulting services, in the areas of heating, ventilation, air conditioning, refrigeration, water purification, waste water treatment, and, our latest business segment, energy (collectively, the “Aqua Business”).

Effective December 27, 2004, we changed our name to “Aqua Society, Inc.” to better reflect the nature of our current business operations

Recent Corporate Developments

The following significant corporate developments have occurred since our fiscal year ended September 30, 2006:

1. After the completion of our 2006 fiscal year, we completed the construction of a demonstration prototype of our EnergyMission / Yellow Box technology. A media event to showcase this demonstration model was held at our facilities on December 21, 2006. This demonstration unit will be used by us for marketing and demonstration purposes as well as for research and development.


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2. On December 21, 2006, our Board of Directors approved and adopted our 2006 Stock Option Plan (the “2006 Option Plan”). Under the 2006 Option Plan, options may be granted for a maximum of 7,000,000 shares of our common stock. The maximum number of shares that may be optioned under the 2006 Option Plan will increase each fiscal quarter, beginning with the fiscal quarter commencing April 1, 2007, by an amount equal to 15% of the total increase in the number of shares of common stock outstanding or such lesser amount as may be determined by our Board of Directors.


A summary of our 2006 Option Plan is set forth in our Current Report on Form 8-K filed with the SEC on December 29, 2006. The full text of the 2006 Option Plan is attached as Exhibit 10.1 to our Current Report on Form 8-K filed with the SEC on December 29, 2006, and is incorporated by reference herein.


3. Also on December 21, 2006, our Board of Directors approved the grant of options under the 2006 Option Plan for 2,500,000 shares of our common stock at an exercise price of $0.40 per share to Mr. Terberg and options to purchase an aggregate of 2,000,000 shares of our commons stock to Mr. van der Zee, also at a price of $0.40. The options granted to each of Mr. Terberg and Mr. van der Zee vest in equal quarterly instalments, commencing on April 1, 2007 and expiring 2 years after the applicable vesting date.


Changes to the Board of Directors and Executive Officers

In addition to the above corporate developments, there have been a number of changes to our Board of Directors and executive officers since the end of our 2006 fiscal year.

Effective October 31, 2006, Robert Terberg replaced Petrus Lodestijn as our Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary and also as a member of our Board of Directors. Also effective on October 31, 2006, our Board of Directors was expanded by the appointment of Hubert Hamm as a director of the Company and by the appointment of Hugo van der Zee as the Chairman of the Company’s Board of Directors.

PLAN OF OPERATION

During the next twelve months, we will focus: (1) on the design and construction of products ordered from us; (2) on further developing the market for our products; and (3) on continuing to develop and improve our products. Specifically, our plan of operation for the next twelve months involves the following:

1. Design and Construction of Ordered Units: During the next twelve months, we will work on the design and construction of the waste heat power generation, AquaMission and ThermoMobil units for which we have received orders.


2. Market Development Activities: Over the next twelve months we intend to do the following in an effort to continue developing a market for our products and services:


(a) We have completed the construction of a prototype EnergyMission / Yellow Box unit that we will use for marketing and demonstration purposes, as well as for ongoing research and development. The prototype unit will be used by us to demonstrate the effectiveness of our technology to trade media and industry representatives on an ongoing basis.


(b) We are also in the process of setting up a wholly owned subsidiary in the Netherlands (the “Dutch Subsidiary”), through which we will seek to promote all of our products in the “Benelux” countries (Belgium, the Netherlands and Luxemberg). In addition, we intend to use the Dutch Subsidiary to establish an additional production facility to be located in


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the Netherlands. This production facility is expected to enable us to significantly expand our production capabilities from the limited facilities located in Herten, Germany. The Dutch Subsidiary is expected to be based in Zevenaar, near Arnhem, in the east of the Netherlands.


(c) We will continue to attempt to market the AquaMission combined air-conditioning and drinking water product in geographic locations with high ambient temperatures and relative humidity but without readily available sources of fresh water, such as the Persian Gulf and the Middle East. Three demonstration models of the AquaMission are currently on location in the Middle East. We are currently in the process of seeking new sales agents for our products in the Middle East.


We will continue to try and generate sales in the Middle East using these demonstration models.


In addition to these activities, we may also seek to increase brand awareness through various advertising activities and sponsorships.

3. Product Development Activities: During the next twelve months, we will also continue to work on further developing and improving our existing products in an effort to increase their marketability. As part of these efforts, we have developed and built a demonstration model of our Yellow Box technology.


We are also in the process of constructing a high-tech “climate room” that will allow us to simulate the world’s various humidity and temperature zones. This “climate room” will assist us in optimizing our AquaMission unit for different geographic locations.


We anticipate spending approximately $2,000,000 in pursuing our plan of operation over the next twelve months. As of December 31, 2006, the date of our most recently available financial statements, we had a working capital deficit of $3,017,690. As such, we do not have sufficient working capital to meet our expected needs over the next twelve months. Although we have recently begun to earn revenues, we have not yet earned a net profit and we do not expect to achieve profitability in the near future as we expect to continue to incur substantial product development, marketing and operating expenses. We are likely to continue to need substantial additional financing in order to implement our plan of operation. Our management expects that any additional financing that we obtain will likely be in the form of equity financing.

Our actual expenditures and business plan may differ from the one stated above. Our Board of Directors may decide not to pursue this plan. In addition, we may modify the plan based on available financing.

RESULTS OF OPERATIONS

First Quarter Summary

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Revenue $25,441 $782,242 (96.7)%
Cost of Goods Sold (580) (593,010) (99.9)%
General and Administrative Expenses (979,578) (1,319,826) (25.8)%
Other Items Nil (5,292) (100.0)%
Net Loss $(954,717) $(1,125,302) (15.2)%

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Revenues

During our last fiscal year, we earned revenues from HVAC&R and energy optimization consulting services, and from equipment sales made in connection with the provision of those services. However, we do not have a long-term history of earning revenues and, as a result, we are unable to accurately forecast future revenues. Readers are cautioned that our past operating results may not be indicative of future performance.

During the fiscal year ended December 31, 2006, our revenue decreased by 96.7% as compared to the same period ended in 2005. Since their appointment in October, 2006, our new executive officers and directors have been conducting a company wide review of our operations. During this period, we scaled back our HVAC&R and energy optimizing consulting activities. As a result, our revenues decreased substantially.

During the next twelve months, we intend to concentrate our resources on developing the market for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, as we believe that these products will provide us with the greatest opportunity for future profitability. As a result, we may continue to scale back the HVAC&R and energy optimization consulting services that we have provided in the past.

Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products, and there are no assurances that we will be able earn such revenues in the future.

Operating Costs and Expenses

Our operating expenses for the quarterly period ended December 31, 2006 consisted of the following:

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Accounting and audit fees $73,443 $57,121 28.6%
Advertising and promotion 19,329 58,187 (66.8)%
Amortization 5,899 6,584 (10.4)%
Bad debts 28,431 43,685 (34.9)%
Bank charges and interest 117 85 37.6%
Consulting fees 36,634 177,085 (79.3)%
Development costs 268,919 412,455 (34.8)%
Filing fees 867 121 616.5%
Interest 57,256 57,088 0.3%
Legal fees 130,228 36,264 259.1%
Management fees 57,988 124,857 (53.6)%
Office and miscellaneous 23,270 66,274 (64.9)%
Rent 26,154 28,917 (9.6)%
Salaries and benefits 154,052 96,888 (59.0)%
Stock-based compensation 57,242 Nil 100.0%
Transfer agent 225 815 (72.4)%

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Travel 39,524 80,478 (50.9)%
Write down of patents Nil 8,994 (100.0)%
Write down of inventory Nil 63,928 (100.0)%
Total General and Administrative Expenses $979,578 $1,319,826 (25.8)%

Our general and administrative expenses decreased by $340,248, or 25.8%, during the three month period ended December 31, 2006 as compared to 2005. This decrease in our general and administrative expenses was primarily generated as a result of the efforts of our current management to streamline our operations. During the next few months, we expect that our general and administrative expenses will continue to fluctuate somewhat as we continue to review and overhaul our current operations.

Management fees decreased by $66,869, or 53.6%, during the quarter ended December 31, 2006, primarily because of the termination of a management services contract under which we had been obligated to pay management fees of EUR 20,000 per month to a law firm of which a former officer and director is a partner. Also, during the last fiscal quarter, we scaled back some of our product development activities as our management conducted a company wide assessment of our operations. As a result, development costs, and consulting fees associated with our development activities, also decreased significantly during our last fiscal quarter. Office and travel expenses also decreased primarily as a result of our efforts to streamline our operations. Also contributing to the overall decrease in our general and administrative expenses from the quarter ended December 31, 2005 was the fact that, during our December 31, 2005 fiscal quarter, we recognized one-time patent and inventory write down charges totaling $72,922. No patent or inventory write down charges were recognized for the period ended December 31, 2006.

Offsetting the above decreases were significant increases in accounting and audit fees, legal fees and salaries and benefits. The increase in legal fees relates primarily to amounts incurred in connection with the negotiation of our patent licensing agreement with Ecoenergy Patent GmbH and in connection with the restructuring of our operations by our new management. The events giving rise to the additional amounts spent on legal fees are not expected to be ongoing. Accounting and auditing fees increased as a result of an increase in the amounts charged by our consulting accountants and by our independent auditors. The increase in salaries and benefits was a result of the hiring of two additional non-management employees.

Also, during the period ended December 31, 2007, we recorded stock-based compensation expenses of $57,242 on account of stock options granted to certain of our officers and directors during the period. No options or other stock-based compensation were granted during the period ended December 31, 2005.

LIQUIDITY AND CAPITAL RESOURCES

Working Capital

At At Percentage
December 31, 2006 September 30, 2006 Increase / (Decrease)
Current Assets $675,063 $854,960 (21.0)%
Current Liabilities (3,692,753) (2,914,370) 26.7%
Working Capital Surplus (Deficit) $(3,017,690) $(2,059,410) 46.5%

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Included in current liabilities are a total of $1,527,238 payable to a law firm of which one of our former officers and directors, is a partner. We are currently in negotiations with the former officer and director for the settlement of the amounts owed to him and his law firm.

Cash Flows

Three Months Ended December 31
2006 2005
Cash Flows used in Operating Activities $(767,895) $(623,299)
Cash Flows used in Investing Activities 5,634 (20,210)
Cash Flows from Financing Activities 677,508 174,408
Effects of Foreign Exchange Rates 6,158 (7,730)
Net Decrease in Cash During Period $(78,595) $(476,831)

During the period ended December 31, 2006, we obtained financing in the form of a EUR 500,000 loan. This loan is unsecured, non-interest bearing and payable upon demand.

Total loans payable at December 31, 2006 consist of the following amounts:

(a) $950,886, bearing interest at a rate of 7.5% per annum, secured by accounts receivable and repayable on or before December 31, 2006;


(b) $773,403, non-interest bearing, secured by accounts receivable and repayable on or before December 31, 2006;


(c) $122,185, bearing interest a rate of 7.5% per annum, unsecured and payable on or before December 31, 2006; and


(d) $1,319,261, non-interest bearing, unsecured and due on demand.


The amounts payable on or before December 31, 2006 have not yet been repaid and are past due. We are currently in negotiations with our creditors for the settlement and repayment of amounts owed to them.

As at December 31, 2006 we had cash in the amount of $108,837 and a working capital deficit of $3,017,690. We anticipate spending approximately $2,000,000 over the next 12 months in pursuing our plan of operation. We will require substantial additional financing in the next few months in order to pursue our current plan of operation.

Although we earned revenues during our fiscal year ended September 30, 2006, we did not earn significant revenues during the fiscal quarter ended December 31, 2006 and we have not yet achieved profitability. Our future financial results are uncertain due to a number of factors, many of which are outside of our control. These factors include, but are not limited to:

(a) our ability to commercially market our ThermoMobil and AquaMission products;


(b) our ability to develop a commercially marketable EnergyMission/Yellow Box product;


(c) our ability to raise additional capital necessary to implement our business strategy and plan of operation;


(d) our ability to compete with other existing technologies; and


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(e) the success of any marketing and promotional campaign which we conduct for our products once development is complete.


Due to the uncertainty regarding our future revenues and profitability, we expect that the majority of additional financing that we obtain, if any, will likely be in the form of equity financing. Our management does not expect sufficient debt financing to be available to us through traditional sources at this stage of our business.

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 are material to our stockholders.

CRITICAL ACCOUNTING POLICIES

The preparation of financial statements in conformity with generally accepted accounting principles requires our management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Our management routinely makes judgments and estimates about the effects of matters that are inherently uncertain.

We have identified certain accounting policies, described below, that are most important to the portrayal of our current financial condition and results of operations. Our significant accounting policies are disclosed in Note 3 to the interim financial statements included in this Quarterly Report.

Principles of Consolidation

The consolidated financial statements include the accounts of Aqua Society, Inc and our wholly owned subsidiary, Aqua Society GmbH, a German limited liability company (“Aqua GmbH”). All inter-company transactions have been eliminated.

Foreign Currency Translation

Our functional currency is United States dollars. Our subsidiary, Aqua GmbH, uses the Euro as its functional currency. Accordingly, assets and liabilities of Aqua GmbH are translated into US dollars at the exchange rate in effect at the balance sheet date and capital accounts are translated at historical rates. Income statement accounts are translated at the average rates of exchange prevailing during the period. Translation adjustments arising from the use of differing exchange rates from period to period are included in the Accumulated Other Comprehensive Gain/(Loss) account in Stockholders’ Equity.

Transactions undertaken in currencies other than the functional currency of the entity are translated using the exchange rate in effect as of the transaction date. Any exchange gains and losses would be included in the Statement of Operations.

Patents, Patent Rights and Amortization

Patents and patent rights are recorded at cost. We provide for the amortization of patents and patent rights on the straight-line basis over their estimated economic lives, estimated to be 5 years. Amortization is recorded upon the patents being awarded.

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RISKS AND UNCERTAINTIES

Need For Financing

We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability. We are likely to continue to need substantial additional financing in order to implement our long term business plan. There is no assurance that we will be able to acquire sufficient financing on terms acceptable to us or at all. If financing is not available or obtainable, our ability to meet our financial obligations and pursue our plan of operation will be substantially limited and investors may lose a substantial portion or all of their investment

Limited Operating History, Risks Of A New Business Venture

We are still in the process of developing our business and have only recently begun to earn revenues. Readers are cautioned that our past results may not be indicative of future performance.

Potential investors should be aware of the difficulties normally encountered by a new enterprise and the high rate of failure of such enterprises. The potential for future success must be considered in light of the problems, expenses, difficulties complications and delays encountered in connection with the development of a business in the area in which we intend to operate and in connection with the formation and commencement of operations of a new business in general. These include, but are not limited to, unanticipated problems relating to research and development programs, marketing, approvals by government agencies, competition and additional costs and expenses that may exceed current estimates. There is no history upon which to base any assumption as to the likelihood that we will prove successful, and there can be no assurance that we will ever achieve profitable operations.

If We Are Unable To Achieve Market Acceptance For Our Products, We Will Be Unable To Build Our Business

To date, we have completed technical development of our EnergyMission/Yellow Box, ThermoMobil and AquaMission products. However, we have only received a limited number of confirmed orders for these products. Our future success will depend upon the acceptance of our existing products, and other products that we develop, by the respective industries in which we intend to market those products. Achieving such acceptance will require significant investments in research and development and market development. The technologies upon which our products and services are based are relatively new and are evolving. Accordingly, in order to achieve commercial acceptance, we will have to educate prospective clients about the uses and benefits of our products.

Even If We Are Able To Develop A Commercial Market For Our Products, We May Not Have The Ability To Meet The Demand For Those Products

We intend to complete the construction of the initial AquaMission, ThermoMobil and EnergyMission/Yellow Box units ordered from us at our facilities located in Herten, Germany. However, the size of these facilities is limited.

We are currently in the process of establishing a wholly owned subsidiary in the Netherlands, with which we intend to establish a larger scale production facility. Further, we intend to seek supply contracts and/or joint venture/licensing agreements with independent manufacturing companies to manufacture our products on a large scale basis, however we have not yet entered into any such contracts or agreements.

Our Operations May Be Subject to Extensive Government Regulation

Our operations may be subject to extensive government regulations in the United States, Europe and elsewhere. In order to sell our products, we may have to satisfy numerous mandatory procedures,

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regulations, and safety standards established by international, federal and state regulatory agencies. Although we currently comply with stringent German regulations, there can be no assurance that we can successfully comply with all present and future government regulations worldwide.

Risks of International Business Operations

Although we are incorporated in the United States, the majority of our operating activities are conducted in Germany. Additionally, in the past, we have targeted markets for our products in the Persian Gulf and other developing parts of the world, such as Africa. As such, a significant portion of our business depends upon our ability to establish and maintain successful relationships with businesses and governments located outside of the United States. If we are unable to establish and maintain such relationships, we may not be able to implement our business plan or plan of operations.

In order to better manage the risks associated with our international operations, our management has decided to focus their business development efforts on markets near to our base of operations, such as Germany, the Netherlands and the rest of Europe.

Rapid Technological Changes In Our Industry Could Make Our Products Obsolete

The industry in which we intend to compete is characterized by rapid technological change and intense competition. New technologies, products and industry standards will develop at a rapid pace which could make our planned products obsolete. Our future success will depend upon our ability to develop and introduce product enhancements to address the needs of our customers.

Asserting And Defending Intellectual Property Rights May Impact Results Of Operations

The success of our business may depend on our ability to successfully defend our intellectual property rights. Future litigation may have a material impact on our financial condition even if we are successful in developing and marketing products. We may not be successful in defending or asserting our intellectual property rights.

An adverse outcome in any litigation or interference proceeding could subject us to significant liabilities to third parties and require us to cease using the technology that is at issue or to license the technology from third parties. In addition, a finding that any of our intellectual property rights are invalid could allow our competitors to more easily and cost-effectively compete. Thus, an unfavorable outcome in any patent litigation or interference proceeding could have a material adverse effect on our business, financial condition or results of operations.

The cost to us of any patent litigation or interference proceeding could be substantial. Uncertainties resulting from the initiation and continuation of patent litigation or interference proceedings could have a material adverse effect on our ability to compete in the marketplace. Patent litigation and interference proceedings could also absorb significant management time.

We May Be Subject To Product Liability Lawsuits

We may be subject to product liability claims. Such claims may absorb significant management time and could degrade our reputation and the marketability of our products. If product liability claims are made with respect to our products, we may need to recall the implicated product which could have a material adverse effect on our business, financial condition and results of operations. In addition, although we may maintain product liability insurance, we cannot be sure that such insurance will be adequate to cover potential product liability lawsuits. Insurance is expensive and in the future may not be available on acceptable terms, if at all. If a successful product liability claim or series of claims exceeds insurance coverage, it could have a material adverse effect on our business, financial condition and results of operations.

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If We Are Late In Filing Any Of Our Annual Or Quarterly Reports During The Next Two Years, Our Common Stock May Become Ineligible For Quotation On The OTC Bulletin Board, Which Would Negatively Affect The Market For Our Shares And Our Ability To Obtain Additional Financing.

On November 16, 2005, the SEC approved certain changes to NASD Rule 6530. As amended, NASD Rule 6530 provides that OTC Bulletin Board (“OTCBB”) issuers who are late in filing their annual or quarterly reports three times within a 24-month period will be ineligible for quotation on the OTCBB. In order to regain eligibility under this rule, the issuer would need to timely file all of its annual and quarterly reports due in a one year period. The amended NASD Rule 6530 does not apply to annual or quarterly reports for periods ended before October 1, 2005.

From time to time, we have been late in filing our quarterly and annual reports. If we are late in filing our annual or quarterly reports three times within a 24-month period, we may become ineligible for quotation on the OTCBB, which would negatively affect the market for our common stock. In addition, if our common stock is no longer eligible for quotation on the OTCBB, it may become more difficult for us to obtain additional equity financing as shares of our common stock will be less attractive to potential investors.

ITEM 3. CONTROLS AND PROCEDURES.

Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as of the end of the period covered by this report. Based on that evaluation, our principal executive officer and principal financial officer has concluded that our disclosure controls and procedures were not effective as we failed to timely file our periodic reports with the SEC on a number of occasions during the past fiscal year.

Our new management is in the process of taking measures to improve our disclosure controls and procedures in an effort to ensure that the information required to be disclosed is internally communicated and publicly reported within the time periods specified in the SEC’s rules and forms. In particular, we intend to engage outside consultants to assist us in the preparation of our accounting records and financial statements and will attempt to increase internal accountability and to clearly define internal communication channels in an effort to remedy the deficiencies identified by our principal executive officer and principal financial officer.

By working with our external consultants and our principal independent accountants, our management believes that the financial statements and the other information presented in this Quarterly Report are materially correct.

There were no changes in our internal control over financial reporting during the last fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

None.

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

All unregistered sales of our equity securities completed during our fiscal quarter ended December 31, 2006 have been previously reported in the Quarterly Reports on Form 10-QSB and Current Reports on Form 8-K that we filed during that period.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

None.

ITEM 5. OTHER INFORMATION.

Compensatory Arrangements Of Certain Officers

Effective December 28, 2006, we entered into management consulting services agreements with each of Robert Terberg, our current Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary, and currently a member of our Board of Directors, and Hugo van der Zee, currently the Chairman of our Board of Directors. The terms of our agreements with Mr. Terberg and Mr. van der Zee are disclosed in our Annual Report filed with the SEC on January 16, 2007.

ITEM 6. EXHIBITS.

Exhibit
Number Description of Exhibit
3.1 Restated Articles of Incorporation filed with the Nevada Secretary of State effective December 27, 2004.(5)
3.2 Bylaws, effective March 2, 2000.(1)
10.1 Share Purchase Agreement between Water-Capital-Holding Ltd., V G Tech, Inc., Aqua Society GmbH and Steve Livingston, dated for reference September 3, 2004.(2)
10.2 Agreement and Deed of Transfer between Water-Capital-Holding Ltd. and V G Tech, Inc. dated for reference September 22, 2004.(3)
10.3 Certified Translation of a Notarial Deed executed by Uwe Diestel and Aqua Society GmbH dated November 30, 2004 regarding the purchase and sale of an interest in UFI-TEC GmbH.(5)
10.4 2004 Stock Incentive Plan.(4)

13


--------------------------------------------------------------------------------

Exhibit
Number Description of Exhibit
10.5 Marketing & Promotion

[krofisch]

Antwort auf Beitrag Nr.: 28.262.860 von wohinistmeinGeld am 12.03.07 22:38:03

Wie gut dass dir ausser deinen üblichen Pöbel- und Beleidigungsversuchen nichts sinnvolles mehr einfällt!

[westfale64]

#5120: Die ganze Aktionärsabzocke, die IN AQUAS EIGENEM QUARTALSBERICHT nachzulesen ist.




Wofür sacken die Aqua-Vorstände die Millionen ein ?
Wie lange macht die Bude es noch mit läppischen 100000 cash ?

[Borealis]

Antwort auf Beitrag Nr.: 28.263.951 von Leichtmatrose am 13.03.07 01:00:37

"Ex-Hauptstadtrepräsentant und Ex-FDP-Landtags- und Ex-Europaparlaments-Kandidat für Brandenburg Michael Stroh"

Jeder, der sich mit Aqua einläßt, hat schnell fertig und ist dann bloß noch "Ex-" .

[krofisch]

Antwort auf Beitrag Nr.: 28.289.584 von westfale64 am 14.03.07 14:28:40

Und schon wieder der x-te verzeifelte und kopierte Hinweis auf die westfale64-'Version' des Q-Beerichtes.

Wen interessiert schon die westfale64-'Interpretation', wenn er das ORIGINAL hier lesen kann:

#5133
oder
http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

[wohinistmeinGeld]

Antwort auf Beitrag Nr.: 28.294.712 von krofisch am 14.03.07 18:37:04

Und schon wieder der x-te verzeifelte und kopierte Hinweis auf den krofisch-Katastrophen-Q-Berichtes

[Zaharoff]

Aqua Society, eine Erfolgsgeschichte in Sachen Geld-Vernichtung:

5 Tage


3 Monate



6 Monate



1 Jahr



2 Jahre



3 Jahre

[krofisch]

Antwort auf Beitrag Nr.: 28.323.915 von Zaharoff am 16.03.07 11:04:23

Da fehlt aber noch dieser Chart!

[westfale64]

--------------------------------------------------------------------------------
Wie immer gibt Aquas Pusher auf kritische Fragen keine Antworten sondern versucht diese mit seinen überwiegend inhaltsfreien Postings nach hinten zu schieben.

Erklären Sie lieber wofür sich die Gebrüder Grimm (die Gründer/Altaktionäre dieser Abzockklitsche)aus dem Aktionärsvermögen per "management consulting contract" selbst(!)mit Millionensummen bedienen:
Hier die Auszüge AUS AQUAS EIGENEM QUARTALSBERICHT, die diese Selbstbedienung belegen:

„Included in accounts payable and accrued liabilities is $77,498 (September 30, 2006: $79,358) due to directors of the Company and a former director of the Company.“Wofür kassieren die Direktoren dieser 8-Mann-Klitsche, die es im letzten Quartal gerade mal auf (verlustbringende)25000 Umsatz gebracht hat, 77000 Gehalt ?


„Included in loans payable is $1,527,238 (September 30, 2006: $1,441,507) due to a law firm of which a former director of the Company is a partner.“Wofür kassiert Direktor Stamm 1,5 Mio. Lohn ?

„By a management consulting contract dated September 30, 2004 and effective October 1, 2004, the Company’s subsididary (“GmbH”) agreed to pay EUR15,000 (US $19,789) per month to a managing director of GmbH“Wofür kassiert der nächste Direktor dieser Klitsche15000 im Monat ?


„By a management consulting contract dated December 12, 2005 and effective January 1, 2006, the GmbH agreed to pay EUR 20,000 (US $25,371) per month to March 31, 2006 and EUR 25,000 (US $31,714) per month to December 31, 2006 for technical services. Effective September 18, 2006, the contract was amended and the payment was decreased to EUR 10,000 (US$ 12,686) per month and extended to June 30, 2007. The management consulting contract is with a company owned by a director of the Company.“Für welche Leistung wird eine Firma des Direktors mit 10000-25000 entlohnt ?



„By management consulting agreements dated December 28, 2006, the Company agreed to pay directors of the Company a total of EUR 56,000 (US $73,879) for the period October 1, 2006 to December 31, 2006 and EUR 14,000 (US $18,470) per month for the period January 1, 2007 to September 30, 2007.“Wofür kriegen die Direktoren weitere 56000 im Quartal ?



„We anticipate spending approximately $2,000,000 in pursuing our plan of operation over the next twelve months. As of December 31, 2006, the date of our most recently available financial statements, we had a working capital deficit of $3,017,690. As such, we do not have sufficient working capital to meet our expected needs over the next twelve months. Although we have recently begun to earn revenues, we have not yet earned a net profit and we do not expect to achieve profitability in the near Future as we expect to continue to incur substantial product development, marketing and operating expenses.“2 Mio. brauchen diese Abzocker für die nächsten 12 Monate, damit sie das Aktionärsgeld weiterhin für ihre Gehaltszahlungen, „management fees“ u. ä. aussaugen können. Und das bei mittlerweile 3 Mio. Überschuldung.

„During our last fiscal year, we earned revenues from HVAC&R and energy optimization consulting services, and from equipment sales made in connection with the provision of those services.“Da kommen die verlustbringen Umsätze her. Herr Hamm lässt sich von den Aktionären nicht nur mit „management fees“ und Vorstandsgehältern bezahlen sondern auch noch als Auftragnehmer (HVAC&R)




„During the fiscal year ended December 31, 2006, our revenue decreased by 96.7% as compared to the same period ended in 2005.“Und selbst diese „Umsätze“ sind fast bei 0 angekommen.

„Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products,“Und hier der Beleg dafür, dass dieser Industriesimulator NOCH NIE eine Maschine verkauft gekriegt hat.


„Included in current liabilities are a total of $1,527,238 payable to a law firm of which one of our former officers and directors, is a partner. We are currently in negotiations with the former officer and director for the settlement of the amounts owed to him and his law firm.“Wofür kassiert Stamm diese 1,5 Mio. ?


„As at December 31, 2006 we had cash in the amount of $108,837 and a working capital deficit of $3,017,690.“Nur noch 100000 in der Kasse, aber 3 Mio. Überschuldung.

„We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability. We are likely to continue to need substantial additional financing in order to implement our long term business plan.“Und hier noch mal der Hinweis auf die drohende Insolvenz mangels Masse.

[krofisch]

Antwort auf Beitrag Nr.: 28.331.933 von westfale64 am 16.03.07 18:03:03

Wen interessiert schon die westfale64-'Interpretation' oder westfale64-'Wahrheit', wenn er das ORIGINAL hier lesen kann:

http://www.sec.gov/Archives/edgar/data/1213111/0001062993070…

10QSB 1 form10qsb.htm QUARTERLY REPORT FOR THE PERIOD ENDED DECEMBER 31, 2006
--------------------------------------------------------------------------------

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-QSB

(Mark One)

[ X ] Quarterly Report Under Section 13 Or 15(d) Of The Securities Exchange Act Of 1934
For the quarterly period ended December 31, 2006

[ ] Transition Report Under Section 13 Or 15(d) Of The Securities Exchange Act
For the transition period from ________to ________

COMMISSION FILE NUMBER 000-50163

AQUA SOCIETY, INC.
(Exact name of small business issuer as specified in its charter)

NEVADA 52-2357931
(State or other jurisdiction of incorporation or (IRS Employer Identification No.)
organization)

Konrad - Adenauer Strasse 9-13
45699 Herten, Germany
(Address of principal executive offices)

011-49-6031-791-760
Issuer's telephone number

Not Applicable
Former name, former address and former fiscal year, if changed since last report

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 [ X ] No [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: As of February 20, 2007 the Issuer had 118,178,323 Shares of Common Stock outstanding.

Transitional Small Business Disclosure Format (check one): Yes [ ] No [X]

1


--------------------------------------------------------------------------------

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

2


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.

INTERIM CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2006

(Stated in US Dollars)

(Unaudited)


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED BALANCE SHEETS
December 31, 2006 and September 30, 2006
(Stated in US Dollars)
(Unaudited)

December 31, September 30,
ASSETS 2006 2006

Current
Cash $ 108,837 $ 187,432
Accounts receivable – trade 76,838 143,039
– other – Note 4 59,367 -
Government value added tax receivable 97,631 217,919
Inventory 332,389 306,569
Loans receivable 1 1

675,063 854,960
Investments – Note 3 2 2
Patents and patent rights 193,485 193,485
Equipment 53,811 65,343

$ 922,361 $ 1,113,790

LIABILITIES

Current
Accounts payable and accrued liabilities – Note 4 $ 527,018 $ 537,271
Loans payable – Notes 4 and 5 3,165,735 2,377,099

3,692,753 2,914,370

STOCKHOLDERS’ DEFICIENCY

Common stock, $0.001 par value – Notes 6 and 8
300,000,000 shares authorized
118,178,323 shares issued and outstanding (September 30, 2006:
118,178,323 shares) 118,179 118,179
Additional paid-in capital 28,690,854 28,609,612
Accumulated other comprehensive loss (246,705 ) (150,368 )
Accumulated deficit (31,332,720 ) (30,378,003 )

(2,770,392 ) (1,800,580 )

$ 922,361 $ 1,113,790

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Sales $ 25,441 $ 782,242
Less: cost of goods sold 580 593,010

24,861 189,232

General and administrative expenses:
Accounting and audit fees 73,443 57,121
Advertising and promotion 19,329 58,187
Amortization 5,899 6,584
Bad debts 28,431 43,685
Bank charges and interest 117 85
Consulting fees 36,634 177,085
Development costs – Note 4 268,919 412,455
Filing fees 867 121
Interest 57,256 57,088
Legal fees – Note 4 130,228 36,264
Management fees – Note 4 57,988 124,857
Office and miscellaneous 23,270 66,274
Rent 26,154 28,917
Salaries and benefits 154,052 96,888
Stock-based compensation 57,242 -
Transfer agent 225 815
Travel – Note 4 39,524 80,478
Write down of patents - 8,994
Write down of inventory - 63,928

(979,578 ) (1,319,826 )

Operating loss before other item (954,717 ) (1,130,594 )

Other item:
Interest income - 5,292

Net loss for the period (954,717 ) (1,125,302 )

Other comprehensive loss
Foreign currency adjustment (96,337 ) (2,551 )

Comprehensive loss for the period $ (1,051,054 ) $ (1,127,853 )

Basic loss per share $ (0.01 ) $ (0.01 )

Weighted average number of shares outstanding 118,178,323 115,771,988

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
for the three months ended December 31, 2006 and 2005
(Stated in US Dollars)
(Unaudited)

2006 2005

Cash flows used in Operating Activities
Net loss for the period $ (954,717 ) $ (1,125,302 )
Items not affecting cash:
Amortization 5,899 6,584
Stock-based compensation 57,242
Write-down of patents - 8,994
Write-down of inventory - 63,928
Interest imputed on loans payable 24,000 -
Changes in non-cash working capital items:
Accounts receivable 10,882 (126,415 )
Government value added tax receivable 126,004 12,329
Inventory (13,251 ) 9,748
Accounts payable and accrued liabilities (23,954 ) 526,835

(767,895 ) (623,299 )

Cash flows used in Investing Activities
Equipment disposal 5,634 48,178
Repayment of loans receivable - (68,388 )

5,634 (20,210 )

Cash flows from Financing Activity
Increase in loans payable 677,508 174,408

Effect of exchange rates on cash 6,158 (7,730 )

Decrease in cash during the period (78,595 ) (476,831 )

Cash, beginning of the period 187,432 658,949

Cash, end of the period $ 108,837 $ 182,118

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Capital stock issued for cash 1 $ 31,042 $ - - $ - $ - $ - $ 31,042
Contribution of assets - - 25,056 - - - - 25,056
Pursuant to the acquisition of Aqua
Society GmbH 10,000,000 10,000 - 34,000,000 34,000 - - 44,000
Exchange of shares (1 ) (31,042 ) - - - - - (31,042 )
Outstanding shares of Company
prior to acquisition 69,908,000 69,908 - - - - (194,748 ) (124,840 )
Unrealized loss on translation - - - - - (997 ) - (997 )
Net loss for the period - - - - - - (67,448 ) (67,448 )

Balance, September 30, 2004 79,908,000 79,908 25,056 34,000,000 34,000 (997 ) (262,196 ) (124,229 )

Issued for cash:
Pursuant to private placement - at $2.40 416,666 417 999,583 - - - - 1,000,000
- at $1.98 1,232,322 1,233 2,438,766 - - - - 2,439,999
Pursuant to exercise of options - at $1.70 215,000 215 365,285 - - - - 365,500
Conversion of special warrants 34,000,000 34,000 - (34,000,000 ) (34,000 ) - - -
Stock-based compensation - - 22,480,000 - - - - 22,480,000
Unrealized gain on translation - - - - - 89,594 - 89,594
Net loss for the year - - - - - - (25,787,558 ) (25,787,558 )

Balance, September 30, 2005 115,771,988 115,773 26,308,690 - - 88,597 (26,049,754 ) 463,306

Pursuant to private placement - at $1.04 1,160,960 1,161 1,206,237 - - - - 1,207,398
- at $0.88 1,245,375 1,245 1,094,685 - - - - 1,095,930
Unrealized loss on translation - - - - - (238,965 ) - (238,965 )
Net loss for the period - - - - - - (4,328,249 ) (4,328,249 )

Balance, September 30, 2006 118,178,323 118,179 28,609,612 - - (150,368 ) (30,378,003 ) (1,800,580 )

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

Continued

AQUA SOCIETY, INC.
INTERIM STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period May 13, 2004 (Date of Inception) to December 31, 2006
(Stated in US Dollars)
(Unaudited)

Common Stock Accumulated
Additional Other
Paid-in Special Warrants Comprehensive Accumulated
Number Par Value Capital Number Amount Gain (Loss) Deficit Total


Stock-based compensation - - 57,242 - - - - 57,242
Unrealized loss on translation - - - - (96,337 ) - (96,337 )
Contribution of interest – Note 5 - - 24,000 - - - - 24,000
Net loss for the period - - - - - - (954,717 ) (954,717 )

Balance, December 31, 2006 118,178,323 $ 118,179 $ 28,690,854 - $ $ (246,705 ) $ (31,332,720 ) $ (2,770,392 )

SEE ACCOMPANYING NOTES


--------------------------------------------------------------------------------

AQUA SOCIETY, INC.
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2006
(Stated in US Dollars)
(Unaudited)

Note 1 Interim Reporting

While information presented in the accompanying interim consolidated financial statements is unaudited, it includes all adjustments, which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented. All adjustments are of a normal recurring nature. The accompanying interim consolidated financial statements do not include all information and footnote disclosures required for an annual set of financial statements prepared under generally accepted accounting principles in the United States of America. The accompanying interim consolidated financial statements should be read in conjunction with the Company’s September 30, 2006 audited consolidated financial statements. Operating results from the period ended December 31, 2006 are not necessarily indicative of the results that can be expected for the year ending September 30, 2007.


Note 2 Nature and Continuance of Operations

These interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for the next twelve months. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. At December 31, 2006, the Company had not yet achieved profitable operations, has accumulated losses of $31,332,720 since its inception, has a working capital deficiency of $3,017,690 and expects to incur further losses in the development of its business, all of which casts substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations 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 considers that the Company will be able to obtain additional funds by equity financing and/or related party advances; however there is no assurance of additional funding being available.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 2
(Unaudited)

Note 3 Investments

i) UFI Tec GmbH

By an agreement dated November 30, 2004 and effective December 10, 2004, the Company acquired a 33% interest in UFI-Tech GmbH (“UFI”), a German limited company, for consideration of EUR 25,565 (US $32,476). During the year ended September 30, 2005, the Company wrote down the $32,476 investment and related loans receivable of $67,227 to their net realizable value of $1. During the year ended September 30, 2006, the Company sold 13.1% of their 33% interest (19.9% interest remains) for proceeds of EUR 10,072 (US $12,237) and wrote down an additional loan receivable of $66,094 to its net realizable value of $1.

ii) By an agreement dated February 18, 2006, the Company acquired a 51% interest in TMR GmbH (“TMR”), a German limited company, in consideration of EUR 12,750 (US $15,999). TMR is involved in the development, installation, distribution and management of renewable resources. At the date of acquisition, TMR had no business, assets or liabilities. During the year ended September 30, 2006, the Company wrote down its investment by $15,674 (EUR 12,749) to $1. During the three months ended December 31, 2006, the Company disposed of its interest in TMR for $1.

Note 4 Related Party Transactions – Note 7

The Company incurred the following amounts charged by directors of the Company, the brother of a director of the Company and a law firm of which a former director of the Company is a partner:

Three months ended
December 31,
2006 2005

Development costs $ 88,013 $ 191,595
Legal fees - 26,073
Management fees 57,988 124,857
Travel - 1,780

$ 146,001 $ 344,305

Accounts receivable – other includes $59,367 related to an advance to a former officer of the Company.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 3
(Unaudited)

Note 4 Related Party Transactions – Note 7 – (cont’d)

Included in accounts payable and accrued liabilities is $77,498 (September 30, 2006: $79,358) due to directors of the Company and a former director of the Company. These amounts are unsecured, non-interest bearing and have no specific terms for repayment.

Included in loans payable is $1,527,238 (September 30, 2006: $1,441,507) due to a law firm of which a former director of the Company is a partner.

Note 5 Loans Payable

Of the total loans outstanding at December 31, 2006, $950,886 (September 30, 2006: $883,822) bear interest at 7.5% per annum, are secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $773,403 (September 30, 2006: $743,675) are non-interest bearing, secured by accounts receivable of GmbH and are repayable on or before December 31, 2006, $1,319,261 (September 30, 2006: $634,276) are non-interest bearing, unsecured and due on demand, and $122,185 (September 30, 2006: $115,326) of loans payable bear interest of 7.5% per annum, are unsecured and are repayable on or before December 31, 2006. The loans due on or before December 31, 2006 were not repaid and are consequently in default. The company has imputed interest on the non-interest bearing loans at 10% per annum for a total of $24,000 during the three months ended December 31, 2006.

Note 6 Capital Stock – Note 8

Commitments:

Share Purchase Options

On December 21, 2006, the Company adopted a second stock incentive plan (the “2006 Stock Option Plan”) to provide incentives to employees, directors, officers and permitted consultants. The 2006 Stock Plan provides for the issuance of up to 7,000,000 options with a term to be determined by the plan administer or, if not so established, ten years. The maximum aggregate number of shares that may be optioned under the 2006 Stock Option Plan will be increased effective the first day of each of the Company’s fiscal quarters (“adjustment date”), beginning with the fiscal quarter commencing April 1, 2007 by an amount equal to the lesser of i) 15% of the outstanding shares on the first day of the applicable quarter less a) the number of shares of common stock that may be optioned and sold under the plan prior to the adjustment date and b) the number of shares of common stock that may be optioned and sold under any other stock option plan in effect as of the adjustment date or ii) such lesser number of shares of common stock as may be determined by the Board.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 4
(Unaudited)

Note 6 Capital Stock – Note 8 – (cont’d)

Commitments: – (cont’d)

Share Purchase Options – (cont’d)

A summary of the stock options outstanding as at December 31, 2006 and changes during the period is presented below:

Weighted
Average
Exercise
Shares Price

Options outstanding at September 30, 2006 7,535,000 $ 1.70
Granted 4,500,000 $ 0.40

Options outstanding at December 31, 2006 12,035,000 $ 1.21

Options exercisable at December 31, 2006 7,535,000

A summary of stock options outstanding at December 31, 2006, is as follows:

Exercise
Number Price Expiry Date

562,500 $0.40 April 1, 2009
562,500 $0.40 July 1, 2009
562,500 0.40 October 1, 2009
7,535,000 $1.70 October 15, 2009
562,500 $0.40 January 1, 2010
562,500 $0.40 April 1, 2010
562,500 $0.40 July 1, 2010
562,500 $0.40 October 1, 2010
562,500 $0.40 January 1, 2011

12,035,000

The Company used the Black-Scholes option pricing model to compute estimated fair value at each of the grant dates.


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 5
(Unaudited)

Note 6 Capital Stock – Note 8– (cont’d)

Commitments – (cont’d)

Share Purchase Options – (cont’d)

The Black-Scholes option-pricing model requires the input of highly subjective assumptions including the expected price volatility. Changes in the subjective input assumptions can materially affect the fair value estimate and therefore the Black-Scholes model does not necessarily provide a reliable single measure of the fair value of the Company’s share purchase options.

The Company used the Black-Scholes option pricing model to compute the estimated fair value of the options granted during the three months ended December 31, 2006, based on the following assumptions:

Risk-free interest rate 4.84%
Dividend yield rate 0.00%
Price volatility 159.23%
Weighted average expected life of options 2.03 years
Weighted average fair value $0.36

The Company recognized stock-based compensation of $57,242 during the three months ended December 31, 2006.

Share Purchase Warrants

As at December 31, 2006, a total of 2,406,335 share purchase warrants exercisable into 2,406,335 common shares were outstanding as follows:

Exercise
Number Price Expiry Date

1,169,960 $1.30 February 9, 2008
1,245,375 $1.10 June 15, 2008

2,406,335


--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 6
(Unaudited)

Note 7 Commitments

i) Lease Contracts

By four lease agreements dated September 30, 2004 and effective October 1, 2004, the Company entered into four lease contracts for the Company’s corporate head office. The leases require total payments of EUR 6,690 (US$8,826) per month. Two of the leases are effective until May 31, 2007 and the other two are effective until December 31, 2007. The leases will be automatically extended every year unless cancelled with six months advance notice.

Minimum future lease payments

September 30, 2007 $ 80,960
2008 12,144

$ 93,104

ii) Management/Consulting Contracts


a) By a management consulting contract dated September 30, 2004 and effective October 1, 2004, the Company’s subsididary (“GmbH”) agreed to pay EUR15,000 (US $19,789) per month to a managing director of GmbH for development, production and quality assurance services. The managing director of the GmbH is also a director of the Company. This contract is for an unlimited term but may be terminated by either party with six months advance notice.


b) By a consulting agreement dated October 1, 2004, the Company agreed to pay $2,000 per month to a consultant of the Company. The agreement is effective for a term of 5 years. The Company granted 500,000 common stock options upon signing of the agreement. The exercise price of the stock options is $1.70 per share and expires on October 15, 2009.


c) By a management consulting contract dated and effective October 1, 2004, the Company agreed to pay EUR 5,000 (US$6,274) per month for marketing and business development services. Effective October 1, 2005, the contract was amended to increase the payment to EUR 7,500 (US $9,411) per month. Effective October 1, 2006, the contract was amended to EUR 15,000 (US$19,028) per month for October, November and December, 2006. By an agreement dated November 1, 2006 and effective January 11, 2007, the Company agreed to the payment of EUR 2,000 (US $2,638) per month until December 31, 2007 and a 5% commission of gross sales to third parties which occurred as a result of the consultant’s work. The contract automatically renews for one year if not terminated at the end of a year by giving six months advance notice.



--------------------------------------------------------------------------------

Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 7
(Unaudited)

Note 7 Commitments – (cont’d)

ii) Management/Consulting Contracts – (cont’d)

d) By a management consulting contract dated and effective January 1, 2005, the GmbH agreed to pay EUR 5,520 (US $7,002) per month for marketing, sales and distribution services. By an agreement dated November 10, 2006 and effective January 1, 2007, the contract was amended to decrease the payment to EUR 3,750 (US $4,947) per month with additional payments of EUR 10,000 (US $12,686) and EUR 5,000 (US$6,343) in November and December 2006 respectively. The contract ends on December 31, 2007 and may be terminated by either party with three months advance notice.

e) By a management consulting agreement dated August 1, 2005, the GmbH agreed to pay EUR 3,900 (US $5,145) per month for administration services for the research and development department. The contract is for an unlimited term and may be terminated by either party by giving six months advance notice.

f) By a management consulting contract dated December 12, 2005 and effective January 1, 2006, the GmbH agreed to pay EUR 20,000 (US $25,371) per month to March 31, 2006 and EUR 25,000 (US $31,714) per month to December 31, 2006 for technical services. Effective September 18, 2006, the contract was amended and the payment was decreased to EUR 10,000 (US$ 12,686) per month and extended to June 30, 2007. The management consulting contract is with a company owned by a director of the Company.

g) By a management consulting contract dated November 10, 2004, the Company agreed to pay EUR 500 (US $660) per press release to a former director of the Company. This contract is for an unlimited term but may be terminated by either party with one month advance notice.

h) By management consulting agreements dated December 28, 2006, the Company agreed to pay directors of the Company a total of EUR 56,000 (US $73,879) for the period October 1, 2006 to December 31, 2006 and EUR 14,000 (US $18,470) per month for the period January 1, 2007 to September 30, 2007. The contract is for an unlimited term but may be terminated by either party with three months advance notice.


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Aqua Society, Inc.
Notes to the Interim Consolidated Financial Statements
December 31, 2006
(Stated in US Dollars) – Page 8
(Unaudited)

Note 8 Subsequent Event

Subsequent to December 31, 2007, the Company approved a private placement offering of 7,500,000 units at $0.30 per unit with each unit consisting of one share of the Company’s common stock and one-half share purchase warrant for total proceeds of $2,250,000. Each share purchase warrant entitles the holder to purchase one additional share of the Company’s common stock at $0.35 per share for a period of one year from the date of issuance of the units.


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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this Quarterly Report constitute "forward-looking statements". These statements, identified by words such as “plan”, "anticipate," "believe," "estimate," "should," "expect" and similar expressions include our expectations and objectives regarding our future financial position, operating results and business strategy. These statements reflect the current views of management with respect to future events and are subject to risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from those described in the forward-looking statements. Such risks and uncertainties include those set forth under the caption "Management's Discussion and Analysis or Plan of Operation" and elsewhere in this Quarterly Report. We do not intend to update the forward-looking information to reflect actual results or changes in the factors affecting such forward-looking information. We advise you to carefully review the reports and documents we file from time to time with the United States Securities and Exchange Commission (the “SEC”), particularly our Annual Reports on Form 10-KSB and our Current Reports on Form 8-K.

As used in this Quarterly Report, the terms "we", "us", "our", “the Company” and “Aqua Society” mean Aqua Society, Inc. unless otherwise indicated. All dollar amounts in this Quarterly Report are in U.S. dollars unless otherwise stated.

INTRODUCTION

The following discussion and analysis summarizes our plan of operation for the next twelve months, our results of operations for the three month period ended December 31, 2006 and changes in our financial condition from September 30, 2006. This discussion should be read in conjunction with the Management’s Discussion and Analysis or Plan of Operation included in our Annual Report on Form 10-KSB for the year ended September 30, 2006.

We were incorporated under the laws of the State of Nevada on March 2, 2000, under the name “V G Tech, Inc.”

On September 22, 2004, we completed the acquisition of Aqua Society GmbH (“Aqua GmbH”). Prior to our acquisition of Aqua GmbH, we were in the business of providing services in the areas of digital graphics and special effects. Upon completing the acquisition of Aqua GmbH, we abandoned this digital imaging business. We are now in the business of designing and developing applied technologies, and providing consulting services, in the areas of heating, ventilation, air conditioning, refrigeration, water purification, waste water treatment, and, our latest business segment, energy (collectively, the “Aqua Business”).

Effective December 27, 2004, we changed our name to “Aqua Society, Inc.” to better reflect the nature of our current business operations

Recent Corporate Developments

The following significant corporate developments have occurred since our fiscal year ended September 30, 2006:

1. After the completion of our 2006 fiscal year, we completed the construction of a demonstration prototype of our EnergyMission / Yellow Box technology. A media event to showcase this demonstration model was held at our facilities on December 21, 2006. This demonstration unit will be used by us for marketing and demonstration purposes as well as for research and development.


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2. On December 21, 2006, our Board of Directors approved and adopted our 2006 Stock Option Plan (the “2006 Option Plan”). Under the 2006 Option Plan, options may be granted for a maximum of 7,000,000 shares of our common stock. The maximum number of shares that may be optioned under the 2006 Option Plan will increase each fiscal quarter, beginning with the fiscal quarter commencing April 1, 2007, by an amount equal to 15% of the total increase in the number of shares of common stock outstanding or such lesser amount as may be determined by our Board of Directors.


A summary of our 2006 Option Plan is set forth in our Current Report on Form 8-K filed with the SEC on December 29, 2006. The full text of the 2006 Option Plan is attached as Exhibit 10.1 to our Current Report on Form 8-K filed with the SEC on December 29, 2006, and is incorporated by reference herein.


3. Also on December 21, 2006, our Board of Directors approved the grant of options under the 2006 Option Plan for 2,500,000 shares of our common stock at an exercise price of $0.40 per share to Mr. Terberg and options to purchase an aggregate of 2,000,000 shares of our commons stock to Mr. van der Zee, also at a price of $0.40. The options granted to each of Mr. Terberg and Mr. van der Zee vest in equal quarterly instalments, commencing on April 1, 2007 and expiring 2 years after the applicable vesting date.


Changes to the Board of Directors and Executive Officers

In addition to the above corporate developments, there have been a number of changes to our Board of Directors and executive officers since the end of our 2006 fiscal year.

Effective October 31, 2006, Robert Terberg replaced Petrus Lodestijn as our Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary and also as a member of our Board of Directors. Also effective on October 31, 2006, our Board of Directors was expanded by the appointment of Hubert Hamm as a director of the Company and by the appointment of Hugo van der Zee as the Chairman of the Company’s Board of Directors.

PLAN OF OPERATION

During the next twelve months, we will focus: (1) on the design and construction of products ordered from us; (2) on further developing the market for our products; and (3) on continuing to develop and improve our products. Specifically, our plan of operation for the next twelve months involves the following:

1. Design and Construction of Ordered Units: During the next twelve months, we will work on the design and construction of the waste heat power generation, AquaMission and ThermoMobil units for which we have received orders.


2. Market Development Activities: Over the next twelve months we intend to do the following in an effort to continue developing a market for our products and services:


(a) We have completed the construction of a prototype EnergyMission / Yellow Box unit that we will use for marketing and demonstration purposes, as well as for ongoing research and development. The prototype unit will be used by us to demonstrate the effectiveness of our technology to trade media and industry representatives on an ongoing basis.


(b) We are also in the process of setting up a wholly owned subsidiary in the Netherlands (the “Dutch Subsidiary”), through which we will seek to promote all of our products in the “Benelux” countries (Belgium, the Netherlands and Luxemberg). In addition, we intend to use the Dutch Subsidiary to establish an additional production facility to be located in


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the Netherlands. This production facility is expected to enable us to significantly expand our production capabilities from the limited facilities located in Herten, Germany. The Dutch Subsidiary is expected to be based in Zevenaar, near Arnhem, in the east of the Netherlands.


(c) We will continue to attempt to market the AquaMission combined air-conditioning and drinking water product in geographic locations with high ambient temperatures and relative humidity but without readily available sources of fresh water, such as the Persian Gulf and the Middle East. Three demonstration models of the AquaMission are currently on location in the Middle East. We are currently in the process of seeking new sales agents for our products in the Middle East.


We will continue to try and generate sales in the Middle East using these demonstration models.


In addition to these activities, we may also seek to increase brand awareness through various advertising activities and sponsorships.

3. Product Development Activities: During the next twelve months, we will also continue to work on further developing and improving our existing products in an effort to increase their marketability. As part of these efforts, we have developed and built a demonstration model of our Yellow Box technology.


We are also in the process of constructing a high-tech “climate room” that will allow us to simulate the world’s various humidity and temperature zones. This “climate room” will assist us in optimizing our AquaMission unit for different geographic locations.


We anticipate spending approximately $2,000,000 in pursuing our plan of operation over the next twelve months. As of December 31, 2006, the date of our most recently available financial statements, we had a working capital deficit of $3,017,690. As such, we do not have sufficient working capital to meet our expected needs over the next twelve months. Although we have recently begun to earn revenues, we have not yet earned a net profit and we do not expect to achieve profitability in the near future as we expect to continue to incur substantial product development, marketing and operating expenses. We are likely to continue to need substantial additional financing in order to implement our plan of operation. Our management expects that any additional financing that we obtain will likely be in the form of equity financing.

Our actual expenditures and business plan may differ from the one stated above. Our Board of Directors may decide not to pursue this plan. In addition, we may modify the plan based on available financing.

RESULTS OF OPERATIONS

First Quarter Summary

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Revenue $25,441 $782,242 (96.7)%
Cost of Goods Sold (580) (593,010) (99.9)%
General and Administrative Expenses (979,578) (1,319,826) (25.8)%
Other Items Nil (5,292) (100.0)%
Net Loss $(954,717) $(1,125,302) (15.2)%

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Revenues

During our last fiscal year, we earned revenues from HVAC&R and energy optimization consulting services, and from equipment sales made in connection with the provision of those services. However, we do not have a long-term history of earning revenues and, as a result, we are unable to accurately forecast future revenues. Readers are cautioned that our past operating results may not be indicative of future performance.

During the fiscal year ended December 31, 2006, our revenue decreased by 96.7% as compared to the same period ended in 2005. Since their appointment in October, 2006, our new executive officers and directors have been conducting a company wide review of our operations. During this period, we scaled back our HVAC&R and energy optimizing consulting activities. As a result, our revenues decreased substantially.

During the next twelve months, we intend to concentrate our resources on developing the market for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, as we believe that these products will provide us with the greatest opportunity for future profitability. As a result, we may continue to scale back the HVAC&R and energy optimization consulting services that we have provided in the past.

Although we have received orders for our ThermoMobil, AquaMission and EnergyMission/Yellow Box products, we have not yet earned any revenues from the sale of those products, and there are no assurances that we will be able earn such revenues in the future.

Operating Costs and Expenses

Our operating expenses for the quarterly period ended December 31, 2006 consisted of the following:

Three Months Ended
December 31 Percentage
2006 2005 Increase / (Decrease)
Accounting and audit fees $73,443 $57,121 28.6%
Advertising and promotion 19,329 58,187 (66.8)%
Amortization 5,899 6,584 (10.4)%
Bad debts 28,431 43,685 (34.9)%
Bank charges and interest 117 85 37.6%
Consulting fees 36,634 177,085 (79.3)%
Development costs 268,919 412,455 (34.8)%
Filing fees 867 121 616.5%
Interest 57,256 57,088 0.3%
Legal fees 130,228 36,264 259.1%
Management fees 57,988 124,857 (53.6)%
Office and miscellaneous 23,270 66,274 (64.9)%
Rent 26,154 28,917 (9.6)%
Salaries and benefits 154,052 96,888 (59.0)%
Stock-based compensation 57,242 Nil 100.0%
Transfer agent 225 815 (72.4)%

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Travel 39,524 80,478 (50.9)%
Write down of patents Nil 8,994 (100.0)%
Write down of inventory Nil 63,928 (100.0)%
Total General and Administrative Expenses $979,578 $1,319,826 (25.8)%

Our general and administrative expenses decreased by $340,248, or 25.8%, during the three month period ended December 31, 2006 as compared to 2005. This decrease in our general and administrative expenses was primarily generated as a result of the efforts of our current management to streamline our operations. During the next few months, we expect that our general and administrative expenses will continue to fluctuate somewhat as we continue to review and overhaul our current operations.

Management fees decreased by $66,869, or 53.6%, during the quarter ended December 31, 2006, primarily because of the termination of a management services contract under which we had been obligated to pay management fees of EUR 20,000 per month to a law firm of which a former officer and director is a partner. Also, during the last fiscal quarter, we scaled back some of our product development activities as our management conducted a company wide assessment of our operations. As a result, development costs, and consulting fees associated with our development activities, also decreased significantly during our last fiscal quarter. Office and travel expenses also decreased primarily as a result of our efforts to streamline our operations. Also contributing to the overall decrease in our general and administrative expenses from the quarter ended December 31, 2005 was the fact that, during our December 31, 2005 fiscal quarter, we recognized one-time patent and inventory write down charges totaling $72,922. No patent or inventory write down charges were recognized for the period ended December 31, 2006.

Offsetting the above decreases were significant increases in accounting and audit fees, legal fees and salaries and benefits. The increase in legal fees relates primarily to amounts incurred in connection with the negotiation of our patent licensing agreement with Ecoenergy Patent GmbH and in connection with the restructuring of our operations by our new management. The events giving rise to the additional amounts spent on legal fees are not expected to be ongoing. Accounting and auditing fees increased as a result of an increase in the amounts charged by our consulting accountants and by our independent auditors. The increase in salaries and benefits was a result of the hiring of two additional non-management employees.

Also, during the period ended December 31, 2007, we recorded stock-based compensation expenses of $57,242 on account of stock options granted to certain of our officers and directors during the period. No options or other stock-based compensation were granted during the period ended December 31, 2005.

LIQUIDITY AND CAPITAL RESOURCES

Working Capital

At At Percentage
December 31, 2006 September 30, 2006 Increase / (Decrease)
Current Assets $675,063 $854,960 (21.0)%
Current Liabilities (3,692,753) (2,914,370) 26.7%
Working Capital Surplus (Deficit) $(3,017,690) $(2,059,410) 46.5%

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Included in current liabilities are a total of $1,527,238 payable to a law firm of which one of our former officers and directors, is a partner. We are currently in negotiations with the former officer and director for the settlement of the amounts owed to him and his law firm.

Cash Flows

Three Months Ended December 31
2006 2005
Cash Flows used in Operating Activities $(767,895) $(623,299)
Cash Flows used in Investing Activities 5,634 (20,210)
Cash Flows from Financing Activities 677,508 174,408
Effects of Foreign Exchange Rates 6,158 (7,730)
Net Decrease in Cash During Period $(78,595) $(476,831)

During the period ended December 31, 2006, we obtained financing in the form of a EUR 500,000 loan. This loan is unsecured, non-interest bearing and payable upon demand.

Total loans payable at December 31, 2006 consist of the following amounts:

(a) $950,886, bearing interest at a rate of 7.5% per annum, secured by accounts receivable and repayable on or before December 31, 2006;


(b) $773,403, non-interest bearing, secured by accounts receivable and repayable on or before December 31, 2006;


(c) $122,185, bearing interest a rate of 7.5% per annum, unsecured and payable on or before December 31, 2006; and


(d) $1,319,261, non-interest bearing, unsecured and due on demand.


The amounts payable on or before December 31, 2006 have not yet been repaid and are past due. We are currently in negotiations with our creditors for the settlement and repayment of amounts owed to them.

As at December 31, 2006 we had cash in the amount of $108,837 and a working capital deficit of $3,017,690. We anticipate spending approximately $2,000,000 over the next 12 months in pursuing our plan of operation. We will require substantial additional financing in the next few months in order to pursue our current plan of operation.

Although we earned revenues during our fiscal year ended September 30, 2006, we did not earn significant revenues during the fiscal quarter ended December 31, 2006 and we have not yet achieved profitability. Our future financial results are uncertain due to a number of factors, many of which are outside of our control. These factors include, but are not limited to:

(a) our ability to commercially market our ThermoMobil and AquaMission products;


(b) our ability to develop a commercially marketable EnergyMission/Yellow Box product;


(c) our ability to raise additional capital necessary to implement our business strategy and plan of operation;


(d) our ability to compete with other existing technologies; and


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(e) the success of any marketing and promotional campaign which we conduct for our products once development is complete.


Due to the uncertainty regarding our future revenues and profitability, we expect that the majority of additional financing that we obtain, if any, will likely be in the form of equity financing. Our management does not expect sufficient debt financing to be available to us through traditional sources at this stage of our business.

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 are material to our stockholders.

CRITICAL ACCOUNTING POLICIES

The preparation of financial statements in conformity with generally accepted accounting principles requires our management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Our management routinely makes judgments and estimates about the effects of matters that are inherently uncertain.

We have identified certain accounting policies, described below, that are most important to the portrayal of our current financial condition and results of operations. Our significant accounting policies are disclosed in Note 3 to the interim financial statements included in this Quarterly Report.

Principles of Consolidation

The consolidated financial statements include the accounts of Aqua Society, Inc and our wholly owned subsidiary, Aqua Society GmbH, a German limited liability company (“Aqua GmbH”). All inter-company transactions have been eliminated.

Foreign Currency Translation

Our functional currency is United States dollars. Our subsidiary, Aqua GmbH, uses the Euro as its functional currency. Accordingly, assets and liabilities of Aqua GmbH are translated into US dollars at the exchange rate in effect at the balance sheet date and capital accounts are translated at historical rates. Income statement accounts are translated at the average rates of exchange prevailing during the period. Translation adjustments arising from the use of differing exchange rates from period to period are included in the Accumulated Other Comprehensive Gain/(Loss) account in Stockholders’ Equity.

Transactions undertaken in currencies other than the functional currency of the entity are translated using the exchange rate in effect as of the transaction date. Any exchange gains and losses would be included in the Statement of Operations.

Patents, Patent Rights and Amortization

Patents and patent rights are recorded at cost. We provide for the amortization of patents and patent rights on the straight-line basis over their estimated economic lives, estimated to be 5 years. Amortization is recorded upon the patents being awarded.

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RISKS AND UNCERTAINTIES

Need For Financing

We do not have sufficient financial resources to meet the expected costs of our plan of operation and current liabilities over the next twelve months. We have not yet achieved profitability. We are likely to continue to need substantial additional financing in order to implement our long term business plan. There is no assurance that we will be able to acquire sufficient financing on terms acceptable to us or at all. If financing is not available or obtainable, our ability to meet our financial obligations and pursue our plan of operation will be substantially limited and investors may lose a substantial portion or all of their investment

Limited Operating History, Risks Of A New Business Venture

We are still in the process of developing our business and have only recently begun to earn revenues. Readers are cautioned that our past results may not be indicative of future performance.

Potential investors should be aware of the difficulties normally encountered by a new enterprise and the high rate of failure of such enterprises. The potential for future success must be considered in light of the problems, expenses, difficulties complications and delays encountered in connection with the development of a business in the area in which we intend to operate and in connection with the formation and commencement of operations of a new business in general. These include, but are not limited to, unanticipated problems relating to research and development programs, marketing, approvals by government agencies, competition and additional costs and expenses that may exceed current estimates. There is no history upon which to base any assumption as to the likelihood that we will prove successful, and there can be no assurance that we will ever achieve profitable operations.

If We Are Unable To Achieve Market Acceptance For Our Products, We Will Be Unable To Build Our Business

To date, we have completed technical development of our EnergyMission/Yellow Box, ThermoMobil and AquaMission products. However, we have only received a limited number of confirmed orders for these products. Our future success will depend upon the acceptance of our existing products, and other products that we develop, by the respective industries in which we intend to market those products. Achieving such acceptance will require significant investments in research and development and market development. The technologies upon which our products and services are based are relatively new and are evolving. Accordingly, in order to achieve commercial acceptance, we will have to educate prospective clients about the uses and benefits of our products.

Even If We Are Able To Develop A Commercial Market For Our Products, We May Not Have The Ability To Meet The Demand For Those Products

We intend to complete the construction of the initial AquaMission, ThermoMobil and EnergyMission/Yellow Box units ordered from us at our facilities located in Herten, Germany. However, the size of these facilities is limited.

We are currently in the process of establishing a wholly owned subsidiary in the Netherlands, with which we intend to establish a larger scale production facility. Further, we intend to seek supply contracts and/or joint venture/licensing agreements with independent manufacturing companies to manufacture our products on a large scale basis, however we have not yet entered into any such contracts or agreements.

Our Operations May Be Subject to Extensive Government Regulation

Our operations may be subject to extensive government regulations in the United States, Europe and elsewhere. In order to sell our products, we may have to satisfy numerous mandatory procedures,

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regulations, and safety standards established by international, federal and state regulatory agencies. Although we currently comply with stringent German regulations, there can be no assurance that we can successfully comply with all present and future government regulations worldwide.

Risks of International Business Operations

Although we are incorporated in the United States, the majority of our operating activities are conducted in Germany. Additionally, in the past, we have targeted markets for our products in the Persian Gulf and other developing parts of the world, such as Africa. As such, a significant portion of our business depends upon our ability to establish and maintain successful relationships with businesses and governments located outside of the United States. If we are unable to establish and maintain such relationships, we may not be able to implement our business plan or plan of operations.

In order to better manage the risks associated with our international operations, our management has decided to focus their business development efforts on markets near to our base of operations, such as Germany, the Netherlands and the rest of Europe.

Rapid Technological Changes In Our Industry Could Make Our Products Obsolete

The industry in which we intend to compete is characterized by rapid technological change and intense competition. New technologies, products and industry standards will develop at a rapid pace which could make our planned products obsolete. Our future success will depend upon our ability to develop and introduce product enhancements to address the needs of our customers.

Asserting And Defending Intellectual Property Rights May Impact Results Of Operations

The success of our business may depend on our ability to successfully defend our intellectual property rights. Future litigation may have a material impact on our financial condition even if we are successful in developing and marketing products. We may not be successful in defending or asserting our intellectual property rights.

An adverse outcome in any litigation or interference proceeding could subject us to significant liabilities to third parties and require us to cease using the technology that is at issue or to license the technology from third parties. In addition, a finding that any of our intellectual property rights are invalid could allow our competitors to more easily and cost-effectively compete. Thus, an unfavorable outcome in any patent litigation or interference proceeding could have a material adverse effect on our business, financial condition or results of operations.

The cost to us of any patent litigation or interference proceeding could be substantial. Uncertainties resulting from the initiation and continuation of patent litigation or interference proceedings could have a material adverse effect on our ability to compete in the marketplace. Patent litigation and interference proceedings could also absorb significant management time.

We May Be Subject To Product Liability Lawsuits

We may be subject to product liability claims. Such claims may absorb significant management time and could degrade our reputation and the marketability of our products. If product liability claims are made with respect to our products, we may need to recall the implicated product which could have a material adverse effect on our business, financial condition and results of operations. In addition, although we may maintain product liability insurance, we cannot be sure that such insurance will be adequate to cover potential product liability lawsuits. Insurance is expensive and in the future may not be available on acceptable terms, if at all. If a successful product liability claim or series of claims exceeds insurance coverage, it could have a material adverse effect on our business, financial condition and results of operations.

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If We Are Late In Filing Any Of Our Annual Or Quarterly Reports During The Next Two Years, Our Common Stock May Become Ineligible For Quotation On The OTC Bulletin Board, Which Would Negatively Affect The Market For Our Shares And Our Ability To Obtain Additional Financing.

On November 16, 2005, the SEC approved certain changes to NASD Rule 6530. As amended, NASD Rule 6530 provides that OTC Bulletin Board (“OTCBB”) issuers who are late in filing their annual or quarterly reports three times within a 24-month period will be ineligible for quotation on the OTCBB. In order to regain eligibility under this rule, the issuer would need to timely file all of its annual and quarterly reports due in a one year period. The amended NASD Rule 6530 does not apply to annual or quarterly reports for periods ended before October 1, 2005.

From time to time, we have been late in filing our quarterly and annual reports. If we are late in filing our annual or quarterly reports three times within a 24-month period, we may become ineligible for quotation on the OTCBB, which would negatively affect the market for our common stock. In addition, if our common stock is no longer eligible for quotation on the OTCBB, it may become more difficult for us to obtain additional equity financing as shares of our common stock will be less attractive to potential investors.

ITEM 3. CONTROLS AND PROCEDURES.

Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as of the end of the period covered by this report. Based on that evaluation, our principal executive officer and principal financial officer has concluded that our disclosure controls and procedures were not effective as we failed to timely file our periodic reports with the SEC on a number of occasions during the past fiscal year.

Our new management is in the process of taking measures to improve our disclosure controls and procedures in an effort to ensure that the information required to be disclosed is internally communicated and publicly reported within the time periods specified in the SEC’s rules and forms. In particular, we intend to engage outside consultants to assist us in the preparation of our accounting records and financial statements and will attempt to increase internal accountability and to clearly define internal communication channels in an effort to remedy the deficiencies identified by our principal executive officer and principal financial officer.

By working with our external consultants and our principal independent accountants, our management believes that the financial statements and the other information presented in this Quarterly Report are materially correct.

There were no changes in our internal control over financial reporting during the last fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

None.

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

All unregistered sales of our equity securities completed during our fiscal quarter ended December 31, 2006 have been previously reported in the Quarterly Reports on Form 10-QSB and Current Reports on Form 8-K that we filed during that period.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

None.

ITEM 5. OTHER INFORMATION.

Compensatory Arrangements Of Certain Officers

Effective December 28, 2006, we entered into management consulting services agreements with each of Robert Terberg, our current Chief Executive Officer, President, Chief Financial Officer, Treasurer and Secretary, and currently a member of our Board of Directors, and Hugo van der Zee, currently the Chairman of our Board of Directors. The terms of our agreements with Mr. Terberg and Mr. van der Zee are disclosed in our Annual Report filed with the SEC on January 16, 2007.

ITEM 6. EXHIBITS.

Exhibit
Number Description of Exhibit
3.1 Restated Articles of Incorporation filed with the Nevada Secretary of State effective December 27, 2004.(5)
3.2 Bylaws, effective March 2, 2000.(1)
10.1 Share Purchase Agreement between Water-Capital-Holding Ltd., V G Tech, Inc., Aqua Society GmbH and Steve Livingston, dated for reference September 3, 2004.(2)
10.2 Agreement and Deed of Transfer between Water-Capital-Holding Ltd. and V G Tech, Inc. dated for reference September 22, 2004.(3)
10.3 Certified Translation of a Notarial Deed executed by Uwe Diestel and Aqua Society GmbH dated November 30, 2004 regarding the purchase and sale of an interest in UFI-TEC GmbH.(5)
10.4 2004 Stock Incentive Plan.(4)

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Exhibit
Number Description of Exhibit