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Wer kann mit den SEC Filings was anfangwn??? 29-Aug-2006 Quarterly Report Item 2. Management's Discussion and Plan of Operation Forward-Looking Statements This Quarterly Report contains forward-looking statements about US Biodefense, Inc.'s business, financial condition and prospects that reflect management's assumptions and beliefs based on information currently available. We can give no assurance that the expectations indicated by such forward-looking statements will be realized. If any of our management's assumptions should prove incorrect, or if any of the risks and uncertainties underlying such expectations should materialize, UBDE's actual results may differ materially from those indicated by the forward-looking statements. The key factors that are not within our control and that may have a direct bearing on operating results include, but are not limited to, acceptance of our services, our ability to expand our customer base, managements' ability to raise capital in the future, the retention of key employees and changes in the regulation of our industry. There may be other risks and circumstances that management may be unable to predict. When used in this Quarterly Report, words such as, "believes," "expects," "intends," "plans," "anticipates," "estimates" and similar expressions are intended to identify forward-looking statements, although there may be certain forward-looking statements not accompanied by such expressions. Overview We were incorporated in the State of Utah on June 29, 1983, under the name Teal Eye, Inc. We merged with Terzon Corporation and changed our name to Terzon Corporation in 1984. We subsequently changed our name to Candy Stripers Candy Corporation. We were engaged in the business of manufacturing and selling candy and gift items to hospital gift shops across the country. We were traded Over-the-Counter Bulletin Board for several years. In 1986 we ceased the candy manufacturing operations and filed for Chapter 11 Bankruptcy protection. After emerging from Bankruptcy in 1993, we remained dormant until January 1998, when we changed our name to Piedmont, Inc. On May 13, 2003, we filed an amendment to our Articles of Incorporation to change our name from Piedmont, Inc. to US Biodefense, Inc. We are a registered government contractor with the Department of Defense Logistics Agency that is focused on designing ad developing homeland security and biodefense products. Results of Operations Revenues <R>Our revenues totaled $20,000 for the current quarter ended February 28, 2006. Our revenues are solely attributable to our contract with Financialnewsusa.com, a related party. Comparatively, in the three months ended February 28, 2005, we realized revenues of $62,500, attributable to services performed for FNUSA and Diamond I. The decrease in revenues represents a period-to-period decrease of 68%. We speculate the reason for the decline in revenues to be our lack of additional clients and sources of revenue generating capability. We do not have any long-term agreements to provide our services to any single customer or group of customers. As a result, we are unable to predict the stability of, and ability to continue to generate, ongoing revenues. If we are unable to generate revenues, we may be unable to sustain our business and may subsequently cease operations. Expenses Total expenses for the three month period ended February 28, 2006 were $22,154. In the comparable year ago period ended February 28, 2005, we incurred total expenses of $28,557. Aggregate expenses decreased approximately 43%, or $16,403. Our management attributes the general decrease to a lack of clientele and consequent decrease in expenditures "back office" operations supporting the servicing of clients, evidenced by general and administrative expenses decreasing $29,269, or 76%, from $38,557 in the three month period ended February 28, 2005 to $9,288 in the current period ended February 28, 2006. General and administrative expenses mainly consist of office expenditures such as postage and delivery fees, supplies and other similar miscellaneous items. We expect to continue to incur general and administrative expenses for the foreseeable future, although we cannot estimate the extent of these costs. -12- -------------------------------------------------------------------------------- While general expenses decrease, we initiated research and development efforts, which caused us to spend $12,866 in the three months ended February 28, 2006. We did not conduct any research and development activities in the period ended February 28, 2005. We expect to continue to incur expenditures in the foreseeable future related to ongoing research and development and the expansion of our business operations. As we continue to pursue research and development efforts, we expect expenses to stabilize over the next several years. Unfortunately, we cannot accurately estimate the extent or impact of ongoing expenses. Losses Our net loss totaled $2,154 for the period ended February 28, 2006, compared to a net loss of $23,943 in the prior period. This represents a narrowing deficit of 109%, or $26,097, in a year-to-year comparison. Although we anticipate incurring ongoing operating losses, we expect these losses to narrow in year-to-year comparison as we generate increased revenues and as expenses begin to plateau over the next several years. However, we cannot guarantee the accuracy of our expectations.</R> Liquidity And Capital Resources We have limited cash on hand, and may be unable to continue operations for the next at least 12 months if we are unable to generate revenues or obtain capital infusions by issuing equity or debt securities in exchange for cash. If we are unable to obtain capital through issuances of equity or debt, David Chin, a shareholder and President of our company, has verbally agreed to loan us cash, which shall bear no interest and be due upon demand. As of February 28, 2006, David Chin loaned us a total of $6,313 to pay for general and administrative expenses. The loan bears no interest and is due upon demand. As of February 28, 2006, the amount owed is $6,313. We have no formal written agreement with Mr. Chin for any further loans, and we cannot guarantee you that we will be able to enforce our verbal agreement. Notwithstanding this, there can be no assurance that we will be able to secure additional funds in the future to stay in business. Our principal accountants have expressed substantial doubt about our ability to continue as a going concern because we have limited operations. There are no known trends, events or uncertainties that have had or that are reasonably expected to have a material impact on our revenues from continuing operations. Our management does not anticipate the need to hire additional full- or part- time employees over the next 12 months, as the services provided by our officers and directors appear sufficient at this time. We believe that our operations are currently on a small scale that is manageable by a few individuals. While we believe that the addition of employees is not required over the next 12 months, we intend to hire independent contractors to perform research activities and market any potential products and services we may develop. We do not have any off-balance sheet arrangements. We currently do not own any significant plant or equipment that we would seek to sell in the near future. We have not paid for expenses on behalf of any of our directors. Additionally, we believe that this fact shall not materially change. |
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| aus der Diskussion: | $$ US Biodefense Inc., die zweite AMRE? $$ |
| Autor (Datum des Eintrages): | Charlyboy (30.08.06 15:06:57) |
| Beitrag: | 2,578 von 2,998 (ID:23684738) |
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