10-K 1 trend10k062609.htm TREND TECHNOLOGY CORP. FORM 10-K CC Filed by Filing Services Canada Inc.  (403) 717-3898

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


FORM 10-K



[xx]

ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED MARCH 31, 2009


[   ]

TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ____ TO ____



Commission File Number:  000-50978


TREND TECHNOLOGY CORPORATION

(Exact name of registrant as specified in its charter)


Nevada

(State or other jurisdiction of incorporation or organization)


98-0343712

(I.R.S. Employer Identification Number)


Suite 1210, 777 Hornby Street

Vancouver, British Columbia, V6Z 1S4

(Address of principal executive offices)


(604) 681-9588

(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 Shares



Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

r Yes     þ No


Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.

r Yes     þ No


Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 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.

þ Yes    r No


Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§229.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

r Yes    r No


Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein, and will not 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-K or any amendment to this Form 10-K.

r


Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See the definitions of “large accelerated filer”, “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.


Large accelerated filer:  r

Accelerated Filer:  r



               Non-accelerated filer:  r (Do not check if a smaller reporting company)

               Smaller reporting company:  þ


Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).

þ Yes     r No


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 the last business day of the registrant’s most recently completed second fiscal quarter.


The aggregate market value of the voting and non-voting common equity held by non-affiliates, computed by reference to the average bid and asked price of such common equity as of September 30, 2008 was $5,098,350 (1).


(1)  Last closing price on September 30, 2008 was (Bid) $0.25 and (Ask) $1.50.



On June 25, 2009, the number of shares outstanding of the registrant's Common Stock was 20,404,600.


DOCUMENTS INCORPORATED BY REFERENCE


None






PART I

BUSINESS


Item 1.  Description of Business


Business Development


Trend Technology Corporation (the “Registrant”, “we”, or “us”) was incorporated on February 16, 2001 under the laws of the State of Nevada.  Gerald R. Tuskey became President, C.E.O., C.F.O. and director of our company on November 2, 2003 and acted in those capacities until April 20, 2004.  On March 31, 2004, Mr. Tuskey was issued 3,000,000 shares of our company in consideration for US$30,000.  Mr. Tuskey owns 29.40% of our company’s issued shares.  On April 20, 2004, Mr. Tuskey was replaced as President and C.E.O. by Mr. Gerald Shields.  On April 20, 2004, Mr. Leonard MacMillan was also appointed C.F.O., Secretary and a director of our company.  On March 31, 2004, Mr. Shields was issued 50,000 common shares of our company in consideration for US$500.  On March 31, 2004, Mr. MacMillan was issued 5,600 common shares of our company in consideration for US$56.  On February 12, 2007, Mr. Gerald Shields resigned as President, C.E.O. and director of our company and Mr. Leonard MacMillan was appointed President and C.E.O. to replace Mr. Shields.


During the period March, 2003 to September, 2003, we scouted locations in British Columbia for the potential staking of claims.  During the period October to December, 2003, we raised seed capital totaling $99,023 from 54 subscribers under Regulation S and Regulation D private placement exemptions.  In October, 2005, we raised a further $60,000 from one subscriber under a Regulation S private placement.  During the period January, 2004 to March, 2004, the Copper Prince property in South Central British Columbia was staked and comprised 35 claim units covering approximately 2,162 acres.  This acquisition was the first material business which we undertook.  In September, 2005, we staked the Dalvenie Property in North Central British Columbia near Dease Lake.  We are a mineral exploration company.


We have not been involved in any bankruptcy, receivership or similar proceedings.


Our Principal Products and Their Markets


We are a junior mineral exploration company.  We staked and held the Copper Prince property in South Central British Columbia which consisted of one four post claim and 19 two post claims comprising a total of 35 claim units covering approximately 2,162 acres.  We completed a comprehensive technical report on our Copper Prince property.  We completed phase one and two work programs on the Copper Prince property.  Our exploration results were not significant enough to warrant a phase three program on this property and we have let our Copper Prince property lapse.


In September, 2005, we acquired our Dalvenie Property in North Central British Columbia near Dease Lake.  The Dalvenie Property comprised 72 claim units covering approximately 4,446 acres.  The Dalvenie Property was staked on behalf of the Registrant by the Registrant’s Vice President of Exploration, Mr. Gerry Diakow.  We completed a phase one work program on the Dalvenie Property in 2006.  We currently do not plan a phase two program on this property and have let our Dalvenie Property claims lapse.


Distribution Methods of Our Products and Services


We are a mineral exploration company and are not in the business of distributing any products or services.


Status of Any Publicly Announced New Product or Service


We have no plans for new products or services that we do not already offer.


Competitive Business Conditions and Our Competitive Position in the Industry and Methods of Competition


Vast areas of Western Canada and the U.S. Pacific Northwest have been explored and in some cases staked through mineral exploration programs.  Vast areas also remain unexplored.  The cost of staking and re-staking new mineral claims and the costs of most phase one exploration programs are relatively modest.  Additionally, in many more prospective areas, extensive literature is readily available with respect to previous exploration activities.  These facts make it possible for a junior mineral exploration company such as ours to be very competitive with other similar companies.  In effect, we are also competitive with senior companies who are doing grass roots exploration.  In the event our exploration activities uncover prospective mineral showings, we anticipate being able to attract the interest of better financed industry partners to assist on a joint venture basis in more extensive exploration.  We are at a competitive disadvantage compared to established mineral exploration companies when it comes to being able to complete extensive exploration programs on claims which we hold or may hold in the future.  If we are unable to raise capital to pay for extensive claim exploration, we will be required to enter into joint ventures with industry partners which will result in our interest in our claims being substantially diluted.  Currently, we do not have sufficient funds for further exploration.


As long as management of our company remains committed to building a portfolio of mineral exploration properties principally through their own efforts, we will be able to continue operating on modest cash reserves for an extended period of time.  We are one small company in a large competitive industry with many other junior exploration companies who are evaluating and re-evaluating prospective mineral properties in Western Canada.


Sources and Availability of Raw Materials and the Names of Principal Suppliers


As a mineral exploration company, we do not require sources of raw materials and do not have principal suppliers in the way which applies to manufacturing companies.  Our raw materials are, in effect, mineral exploration properties which we may stake or acquire from third parties.  Our management team seeks to assemble a portfolio of quality mineral exploration properties in western Canada and in the U.S. Pacific Northwest.  Initially, we will operate in the field with our Vice President of Exploration and a contract mining engineer.  This will enable us to assemble a portfolio of properties through grass roots exploration and staking.  We will also acquire new properties through option agreements where new properties can be acquired on favorable terms.


Dependence on One or a Few Major Customers


We are in the business of mining exploration.  We are not selling any product or service and therefore have no dependence on one or a few major customers.


Patents, Trademarks, Licenses, Franchises, Concessions, Royalty Agreements or Labor Contracts, Including Duration


Our company does not own any patents or trademarks.  We are not party to any labor agreements or contracts.  Licenses, franchises, concessions and royalty agreements are not part of our business.


Need for any government approval of principal products or services


As a mineral exploration company, we are not in a business which requires extensive government approvals for principal products or services.  The British Columbia Mining Act outlines and governs the work that can be done on mining claims in British Columbia.


In the event mining claims which we acquire in the future prove to host viable ore bodies, we would likely sell or lease the deposit to a company whose business is the extraction and treatment of ore.  This company would undertake the sale of metals or concentrates and pay us a net smelter royalty as specified in a future lease agreement.  All responsibility for government approvals pertaining to mining methods, environmental impacts and reclamation would be the responsibility of this contractor.  All costs to obtain the necessary government approvals would be factored into technical and viability studies in advance of a decision being made to proceed with development of an ore body.


The mining industry in Canada and the United States is highly regulated.  Our Vice President of Exploration has extensive industry experience and is familiar with government regulations respecting the initial acquisition and early exploration of mining claims in British Columbia, Canada.  The Registrant is required under law to meet government standards relating to the protection of land and waterways, safe work practices during the forest fire season and road construction.  We are unaware of any proposed or probable government regulations which would have a negative impact on the mining industry in British Columbia.  We propose to adhere strictly to the regulatory framework which governs mining operations in British Columbia.


Effect of existing or probable governmental regulations on our business.


Management is unaware of any existing or probable government regulations which would have a positive or negative impact on our company's business.


Costs and effects of compliance with environmental laws (federal, state and local)


At the present time, our costs of compliance with environmental laws are minimal.  In the event that claims which we may acquire in the future host a viable ore body, the costs and affects of compliance with environmental laws will be incorporated in the exploration plan for these claims.  These exploration plans will be prepared by qualified mining engineers.


Number of total employees and number of full time employees


We currently have two part time employees, namely Mr. Leonard MacMillan, our President, C.E.O., C.F.O. and Secretary and Mr. Gerry Diakow, our Vice-President of Exploration.


Item 1A.  Risk Factors


As a “smaller reporting company”, we are not required to provide the information required by this Item.


Item 1B.  Unresolved Staff Comments


Not Applicable.


Item 2.  Description of Property


Office Premises


We are currently operating from offices at Suite 1210, 777 Hornby Street, Vancouver, B.C., V6Z 1S4, Canada.  We do not own any real property or significant assets.  Our office space is provided to us at no cost by a shareholder of the Registrant.  We are not a party to any lease.  Our agreement to provide office space at no cost is discretionary and may be terminated at any time without notice.  It is anticipated that this arrangement will remain until we are able to generate revenue from operations and require additional office space for new employees.  Management believes that this space will meet our needs for the next 12 months.


Mining Properties


Our company held and explored the Copper Prince property in south central British Columbia and the Dalvenie Property in north central British Columbia.  Our exploration programs on these properties did not generate sufficiently encouraging results to warrant further exploration.  We hold no current mineral exploration properties.  We are currently seeking additional capital to permit us to stake or option further mineral exploration properties.


Item 3.  Legal Proceedings


The Registrant is not involved in any legal proceedings at this time.


Item 4.  Submission of Matters to a Vote of Security Holders


There were no matters submitted to a vote of our security holders either through solicitation of proxies or otherwise in the fourth quarter of the fiscal year ended March 31, 2009.


PART II


Item 5.  Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities


Our common shares were quoted for trading on the OTC Bulletin Board on June 23, 2006 under the symbol "TRET".  The following quotations obtained from Stockwatch reflect the highs and low bids for our common stock based on inter-dealer prices, without retail mark-up, mark-down or commission and may not represent actual transactions.


The high and low bid prices of our common stock for the periods indicated below are as follows:


National Association of Securities Dealers OTC Bulletin Board(1)

Quarter Ended

Low (Bid)

High

(Ask)

April 1, 2009 to June 25, 2009

$0.15 (Bid)

$2,000 (Ask)

March 31, 2009

$0.15 (Bid)

$2,000 (Ask)

December 31, 2008

$0.15 (Bid)

$2,000 (Ask)

September 30, 2008

$0.15 (Bid)

$2,000 (Ask)

June 30, 2008

$0.15 (Bid)

$2,000 (Ask)

March 31, 2008

$0.25

$0.25

December 31, 2007

$1.01

$1.2555

September 30, 2007

$0.255

$5.50

June 30, 2007

$0.51

$11.00


(1) Over-the-counter market quotations reflect inter-dealer prices without retail mark-up, mark-down or commission, and may not represent actual transactions.


(2) We were quoted on the OTC BB on June 23, 2006.


Our common shares are issued in registered form.  Nevada Agency & Transfer Company Limited, Suite 880, 50 West Liberty Street, Reno, Nevada, 89501 USA, (Telephone:  775-322-0626; Facsimile: 775-322-5623) is the registrar and transfer agent for our common shares.  As at March 31, 2009, the shareholders' list of our common shares showed approximately 56 registered shareholders and 20,404,600 shares outstanding.


Recent Sales of Unregistered Securities


Our Company did not sell any securities during its fiscal year ended March 31, 2009.


Equity Compensation Plan Information


As at March 31, 2009, we did not have any equity compensation plans in place.


Purchases of Equity Securities by the Issuer and Affiliated Purchasers


We did not purchase any of our shares of common stock or other securities during the year ended March 31, 2009.


Item 6.  Selected Financial Data


As a “smaller reporting company”, we are not required to provide the information required by this Item.


Item 7.  Plan of Operation


The following Plan of Operation contains forward-looking statements that involve risks and uncertainties, as described below.  Trend Technology Corporation (the “Registrant”, “we”, or “us”) actual results could differ materially from those anticipated in these forward-looking statements.  The following discussion should be read in conjunction with the audited financial statements and notes thereto and the Plan of Operation included in this Annual Report on Form 10-K for the fiscal year ended March 31, 2009.


Our audited financial statements are stated in United States Dollars and are prepared in accordance with United States Generally Accepted Accounting Principles.


Forward-Looking Statements


This annual report contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995.  These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology.  These statements are only predictions and involve known and unknown risks, uncertainties and other factors, including the risks in the section entitled “Risk Factors”, that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.


Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements.  Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.


To date, we have completed three milestones in the execution of our business plan.  The first milestone was the successful raising of start up financing in the amount of $99,023.  In October, 2005, we raised an additional $60,000 through a private placement offering of 300,000 shares at $0.20 per share.  We also consider this offering to be part of the financing milestone in the execution of our business plan.  The second milestone was the completion of two phases of exploration on our Copper Prince Property.  This property did not warrant further exploration and we have allowed the claims to lapse.  The third milestone was the completion of phase one exploration work on the Dalvenie Property but results did not warrant further exploration and we have let these claims lapse.


We are currently seeking new sources of financing in order to continue our mineral exploration activities.


Item 7A.  Quantitative and Qualitative Disclosures About Market Risk


As a “smaller reporting company”, we are not required to provide the information required by this Item.



Item 8.  Financial Statements and Supplementary Data


Our audited financial statements are stated in United States dollars (US$) and are prepared in accordance with United States Generally Accepted Accounting Principles.


The following audited financial statements are filed as part of this annual report:


Report of Independent Registered Public Accounting Firm, dated June 24, 2009


Balance Sheets as of March 31, 2009 and 2008


Statements of Operations from March 1, 2003 (commencement of operations) to March 31, 2009 and for the years ended March 31, 2009 and 2008


Statements of Stockholders’ Equity (Deficit) for period from March 1, 2003 (commencement of operations) to March 31, 2009


Statements of Cash Flows from March 1, 2003 (commencement of operations) to March 31, 2009 and for the years ended March 31, 2009 and 2008


Notes to the Financial Statements

















TREND TECHNOLOGY CORPORATION

(An exploration stage company)

Financial Statements

(Expressed in U.S. Dollars)

March 31, 2009








Index


Report of Independent Registered Public Accounting Firm


Balance Sheets


Statements of Operations


Statements of Stockholders’ Equity (Deficit)


Statements of Cash Flows


Notes to Financial Statements






[trend10k062609002.gif]



REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM



To the Board of Directors

Trend Technology Corporation

Vancouver, British Columbia

CANADA



We have audited the accompanying balance sheets of Trend Technology Corporation ("the Company") (an exploration stage company) as of March 31, 2009 and 2008, and the related statements of operations, stockholders' equity (deficit), and cash flows for the years then ended and for the period from March 1, 2003 (date of inception) to March 31, 2009.  These financial statements are the responsibility of the Company's management.  Our responsibility is to express an opinion on these financial statements based on our audits.


We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States).  Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement.  The Company has determined that it is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting.  Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting.  Accordingly, we express no such opinion.  An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements.  An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.  We believe that our audits provide a reasonable basis for our opinion.


In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Trend Technology Corporation (an exploration stage company) as of March 31, 2009 and 2008, and the results of its operations and its cash flows for the years then ended and for the period from March 1, 2003 (date of inception) to March 31, 2009, in conformity with accounting principles generally accepted in the United States.


The accompanying financial statements have been prepared assuming the Company will continue as a going concern.  As discussed in Note 1 to the financial statements, the Company has not realized any revenue from operations since inception and requires additional funds to maintain its operations.  These conditions raise substantial doubt about the Company's ability to continue as a going concern.  Management's plans regarding these matters are also described in Note 1.  The financial statements do not include any adjustments that might result from the outcome of this uncertainty.



/S/ PETERSON SULLIVAN LLP



Seattle, Washington

June 24, 2009






TREND TECHNOLOGY CORPORATION

 

(An exploration stage company)

 

 

 

 

Balance Sheets

 

(Expressed in U.S. Dollars)

 

 

 

 

 

 

March 31,

March 31,

 

2009

2008

 

 

 

ASSETS

 

 

 

 

 

Current Assets

 

 

  Cash

 $             805

 $     13,487

  Prepaid expenses

              1,650

         1,800

Total Current Assets

              2,455

        15,287

 

 

 

Total Assets

 $           2,455

 $     15,287

 

 

 

LIABILITIES AND STOCKHOLDERS' EQUITY

 

 

 

 

 

Current Liabilities

 

 

   Accounts payable and accrued expenses  (Note 4)

 $           9,498

 $       6,650

   Loan payable, related party  (Note 4)

              3,968

                  -

   Loan payable  (Note 4)

              7,935

                  -

Total Current Liabilities

            21,401

         6,650

 

 

 

STOCKHOLDERS' EQUITY (DEFICIT)

 

 

Common Stock  (Note 6)

 

 

  Authorized:

 

 

    100,000,000 shares of common stock with a par value of $0.0001

 

  Issued and outstanding:

 

 

    20,404,600 shares of common stock

              2,040

         2,040

 

 

 

  Additional paid-in capital

          156,983

      156,983

  Deficit accumulated during the exploration stage

         (177,969)

    (150,386)

Total Stockholders' Equity (Deficit)

          (18,946)

         8,637

 

 

 

Total Liabilities and Stockholders’ Equity

 $           2,455

 $     15,287

 

 

 

 

 

 

The accompanying notes are an integral part of these financial statements.

 








TREND TECHNOLOGY CORPORATION

 

 

 

 

(An exploration stage company)

 

 

 

 

 

 

 

 

 

 

 

Statements of Operations

 

 

 

 

 

 

(Expressed in U.S. Dollars)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 1, 2003

 

 

 

 

 

 

(commencement

 

Year

 

Year

 

 

of operation) to

 

Ended

 

Ended

 

 

March 31,

 

March 31,

 

March 31,

 

 

2009

 

2009

 

2008

 

 

 

 

 

 

 

Expenses

 

 

 

 

 

 

  Bank charges, interest, and exchange (gain) loss

 

 $              3,723

 

 $            (15)

 

 $            101

  Filing and transfer agent fees

 

               16,938

 

            3,778

 

            3,861

  Office and miscellaneous

 

               20,672

 

            4,648

 

            7,461

  Mineral exploration

 

               48,587

 

                  -

 

                  -

  Professional fees

 

               87,608

 

19,172

 

21,850

  Travel expenses

 

                   441

 

                  -

 

                  -

Total expenses

 

             177,969

 

          27,583

 

          33,273

 

 

   

 

 

 

 

Net loss for the period

 

 $         (177,969)

 

 $     (27,583)

 

 $     (33,273)

 

 

 

 

 

 

 

Loss per shares - basic and diluted

 

 

 

 $        (0.00)

 

 $        (0.00)

 

 

 

 

 

 

 

Weighted average number of shares

 

 

 

 

 

 

 outstanding - basic and diluted

 

 

 

20,404,600

 

20,404,600

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The accompanying notes are an integral part of these financial statements.

 

 

 

 

 

 

 

 

 







TREND TECHNOLOGY CORPORATION

(An exploration stage company)

 

 

 

 

 

 

Statements of Stockholders' Equity (Deficit)

Period from March 1, 2003 (commencement of operations) to March 31, 2009

(Expressed in U.S. Dollars)

 

 

 

 

 

 

 

 

 

 

Deficit

 

 

 

 

 

accumulated

Total

 

 

 

Additional

during the

stockholders'

 

Common stock

paid-in

exploration

equity

 

Shares

Amount

capital

stage

(deficit)

 

 

 

 

 

 

Issuance of common stock for cash at $0.01 per share

     19,804,600

 $ 1,980

 $    97,043

 $            -

 $    99,023

 

 

 

 

 

 

Net loss and comprehensive loss for the period

                    -

          -

               -

       (7,433)

       (7,433)

 

 

 

 

 

 

Balance, March 31, 2004

     19,804,600

    1,980

       97,043

       (7,433)

       91,590

 

 

 

 

 

 

Net loss and comprehensive loss for the year

                    -

          -

               -

     (32,493)

      (32,493)

 

 

 

 

 

 

Balance, March 31, 2005

     19,804,600

    1,980

       97,043

     (39,926)

       59,097

 

 

 

 

 

 

Issuance of common stock for cash at $0.20 per share

          600,000

        60

       59,940

               -

       60,000

 

 

 

 

 

 

Net loss and comprehensive loss for the year

                    -

          -

               -

     (38,944)

      (38,944)

 

 

 

 

 

 

Balance, March 31, 2006

     20,404,600

    2,040

     156,983

     (78,870)

       80,153

 

 

 

 

 

 

Net loss and comprehensive loss for the year

                    -

          -

               -

     (38,243)

      (38,243)

 

 

 

 

 

 

Balance, March 31, 2007

     20,404,600

    2,040

     156,983

   (117,113)

       41,910

 

 

 

 

 

 

Net loss and comprehensive loss for the year

                    -

          -

               -

     (33,273)

      (33,273)

 

 

 

 

 

 

Balance, March 31, 2008

     20,404,600

    2,040

     156,983

   (150,386)

         8,637

 

 

 

 

 

 

Net loss and comprehensive loss for the year

                    -

          -

               -

     (27,583)

      (27,583)

 

 

 

 

 

 

Balance, March 31, 2009

     20,404,600

 $ 2,040

 $  156,983

 $(177,969)

 $   (18,946)

 

 

 

 

 

 

 

 

 

 

 

 

The accompanying notes are an integral part of these financial statements








TREND TECHNOLOGY CORPORATION

 

 

 

 

(An exploration stage company)

 

 

 

 

 

 

 

 

 

 

 

Statements of Cash Flows

 

 

 

 

(Expressed in U.S. Dollars)

 

 

 

 

 

 

 

 

 

 

 

 

 

March 1, 2003

 

 

 

 

 

 

(commencement

 

Year

 

Year

 

 

of operation) to

 

Ended

 

Ended

 

 

March 31,

 

March 31,

 

March 31,

 

 

2009

 

2009

 

2008

 

 

 

 

 

 

 

Cash flows from operating activities

 

 

 

 

 

 

  Net loss for the period

 

 $        (177,969)

 

 $     (27,583)

 

 $     (33,273)

  Adjustments to reconcile net loss to net cash

 

 

 

 

 

 

    used in operating activities :

 

 

 

 

 

 

        Prepaid expenses

 

               (1,650)

 

              150

 

            (150)

        Accounts payable and accrued expenses

 

                9,498

 

           2,848

 

           5,503

Net cash flows used in operating activities

 

           (170,121)

 

        (24,585)

 

       (27,920)

 

 

 

 

 

 

 

Cash flows from financing activities

 

 

 

 

 

 

  Proceeds from issuance of common stock

 

            159,023

 

                  -

 

                  -

  Loan proceeds

 

              11,903

 

          11,903

 

                  -

Net cash flows provided by financing activities

 

            170,926

 

          11,903

 

                  -

 

 

 

 

 

 

 

Increase (decrease) in cash during the period

 

                   805

 

        (12,682)

 

        (27,920)

 

 

 

 

 

 

 

Cash, beginning of period

 

                      -

 

          13,487

 

         41,407

 

 

 

 

 

 

 

Cash, end of period

 

 $                805

 

 $            805

 

 $      13,487

 

 

 

 

 

 

 

Supplemental cash flow information

 

 

 

 

 

 

 

 

 

 

 

 

 

  Interest paid in cash

 

 $                   4

 

 $                 -

 

 $               4

 

 

 

 

 

 

 

  Income taxes paid in cash

 

 $                    -

 

 $                 -

 

 $               -

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The accompanying notes are an integral part of these financial statements






TREND TECHNOLOGY CORPORATION

(An exploration stage company)

Notes to the financial statements

(Expressed in U.S. Dollars)

March 31, 2009



1.

Nature of Operations and Going Concern Matters


Trend Technology Corporation (the “Company”) was formed on February 16, 2001 under the laws of the State of Nevada and commenced operations on March 1, 2003.  It is engaged in the acquisition and exploration of mineral properties.  The Company has an office in Vancouver, British Columbia, Canada.  The Company had no operations before March 1, 2003.


In view of certain conditions, the ability of the Company to continue as a going concern is in substantial doubt and dependent upon achieving a profitable level of operations and on the ability of the Company to obtain necessary financing to fund ongoing operations.  Management believes that its current and future plans enable it to continue as a going concern.  Management plans to continue to seek other sources of debt and equity financing on favorable terms and expects to keep its operating costs to a minimum until cash is available through financing or operating activities.  There are no assurances that the Company will be successful in achieving these goals.  The Company has incurred a loss of $27,583 for the year ended March 31, 2009 and at March 31, 2009 has an accumulated deficit of $177,969.  These financial statements do not give effect to any adjustments which would be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets and discharge its liabilities in other than the normal course of business and at amounts different from those reflected in the accompanying financial statements.


2.

Significant Accounting Policies


(a)

Principles of Accounting


These financial statements are stated in U.S. dollars and have been prepared in accordance with accounting principles generally accepted in the United States.


(b)

Cash and Cash Equivalents


Cash equivalents comprise certain highly liquid instruments with a maturity of three months or less when purchased.  As of March 31, 2009 and 2008, cash and cash equivalents consists of cash only.


(c)

Mineral Properties and Exploration Expenses


Acquisition and exploration costs are charged to operations as incurred until such time that proven reserves are discovered. From that time forward, the Company will capitalize all costs to the extent that future cash flow from mineral reserves equals or exceeds the costs deferred.  The deferred costs will be amortized over the recoverable reserves when a property reaches commercial production.  As at March 31, 2009 and 2008, the Company did not have proven reserves.



TREND TECHNOLOGY CORPORATION

(An exploration stage company)

Notes to the financial statements

(Expressed in U.S. Dollars)

March 31, 2009



2.

Significant Accounting Policies - Continued


(d)

Accounting Estimates


The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts 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 and assumptions.


(e)

Earnings (Loss) Per Share


Basic earnings or loss per share is based on the weighted average number of shares outstanding during the period of the financial statements.  Diluted earnings or loss per share is based on the weighted average number of common shares outstanding and dilutive common stock equivalents. Basic earnings (loss) per share is computed by dividing net loss (numerator) applicable to common stockholders by the weighted average number of common shares outstanding and issuable (denominator) for the period.  All per share and per share information are adjusted retroactively to reflect stock splits and changes in par value, when applicable.  All loss per share amounts in the financial statements are basic loss per share because the inclusion of stock options and warrants outstanding would be antidilutive.


(f)

Foreign Currency Translations


The Company is located and operating outside of the United States of America. It maintains its accounting records in U.S. dollars, as follows:


At the transaction date, each asset, liability, revenue and expense is translated into U.S. dollars by the use of the exchange rate in effect at that date.  At the period end, monetary assets and liabilities are re-measured by using the exchange rate in effect at that date.


The resulting foreign exchange gains and losses are included in operations and are not material.


(g)

Fair Value of Financial Instruments


Fair value estimates of financial instruments are made at a specific point in time, based on relevant information about financial markets and specific financial instruments.  As these estimates are subjective in nature, involving uncertainties and matters of significant judgment, they cannot be determined with precision.  Changes in assumptions can significantly affect estimated fair values.



TREND TECHNOLOGY CORPORATION

(An exploration stage company)

Notes to the financial statements

(Expressed in U.S. Dollars)

March 31, 2009



2.

Significant Accounting Policies - Continued


(g)

Fair Value of Financial Instruments - Continued


The respective carrying value of certain financial instruments approximated their fair value.  These financial instruments include cash, accounts payable, loan payable and accrued expenses. Fair values were assumed to approximate carrying values for these financial instruments, since they are short term in nature.  Management is of the opinion that the Company is not exposed to significant interest or credit risks arising from these financial instruments.  The Company is operating outside of the United States of America and has significant exposure to foreign currency risk due to the fluctuation of the currency in which the Company operates and the U.S. dollar.


(h)

Income Taxes


The Company has adopted Statement of Financial Accounting Standards No. 109 (SFAS 109), Accounting for Income Taxes, which requires the Company to recognize deferred tax liabilities and assets for the expected future tax consequences of events that have been recognized in the Company's financial statements or tax returns using the liability method. Under this method, deferred tax liabilities and assets are determined based on the temporary differences between the financial statements and tax bases of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse.


In July 2006, the FASB issued FIN No.48 “Accounting for Uncertainty in Income Taxes – an interpretation of FASB Statement No. 109”. This interpretation clarifies the accounting for uncertainty in income taxes recognized in a company’s financial statements in accordance with SFAS No. 109.  The interpretation prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken in a tax return.  It also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. FIN No.48 is effective for fiscal years beginning after December 15, 2006. The adoption of this interpretation did not have a material impact on the Company’s results of operations or financial position. As such, the Company has not recorded any liabilities for uncertain tax positions or any related interest and penalties. The acceptability of the 2008 and 2007 tax positions by the taxing authorities has not been determined.


(i)

Asset Retirement Obligations


The Company recognizes a liability for future retirement obligations associated with the Company’s mineral properties. The estimated fair value of the asset retirement obligation is based on the current cost escalated at an inflation rate and discounted at a credit adjusted rate. This liability is capitalized as part of the cost of the related asset and amortized over its productive life. The liability accretes until the Company settles the obligation. As of March 31, 2009 and 2008, the Company had no asset retirement obligation.



TREND TECHNOLOGY CORPORATION

(An exploration stage company)

Notes to the financial statements

(Expressed in U.S. Dollars)

March 31, 2009



2.

Significant Accounting Policies - Continued


(j)

Comprehensive Income


The Company has adopted Statement of Financial Accounting Standards No. 130 (SFAS 130), Reporting Comprehensive Income, which establishes standards for reporting and display of comprehensive income, its components and accumulated balances.  The Company is disclosing this information on its Statement of Stockholders' Equity (Deficit). Comprehensive income comprises all transactions affecting equity except those resulting from investments by owners and distributions to owners.


The Company has no material elements of "other comprehensive income" for the years ended March 31, 2009 and 2008 and the period from March 1, 2003 (commencement of operations) to March 31, 2009.


(k)

New Accounting Pronouncements


In April 2009, the Financial Accounting Standards Board (“FASB”) issued FASB Staff Position No. FAS 107-1 and Accounting Principal Board (“APB 28-1”) ("FSP FAS 107-1 and APB 28-1"), "Interim Disclosures about Fair Value of Financial Instruments".  FSP 107-1 amends SFAS 107, "Disclosure about Fair Value of Financial Instruments", and Accounting Principles Board Opinion No. 28, "Interim Financial Reporting", to require disclosures about fair value of financial instruments for interim reporting periods of publicly traded companies as well as in annual financial statements.  The Company is required to adopt FSP FAS 107-1 and APB 28-1 in the quarter ended June 30, 2009.  The Company does not currently believe that adopting this FSP will have a material impact on the Company’s financial statements.

 

In April 2009, the FASB issued FASB Staff Position No. FSP FAS 115-2 and FAS 124-2 ("FSP FAS 115-2 and FAS 124-2"), "Recognition and Presentation of Other-Than-Temporary Impairments".  FSP amends the other-than-temporary impairment guidance in U.S. GAAP for debt securities to make the guidance more operational and to improve the presentation and disclosure of other-than-temporary impairments on debt and equity securities in the financial statements.  This FSP does not amend existing recognition and measurement guidance related to other-than-temporary impairments of equity securities. The Company is required to adopt FSP FAS 115-2 and FAS 124-2 in the quarter ended June 30, 2009.  The Company does not currently believe that adopting this FSP will have a material impact on the Company’s financial statements.




TREND TECHNOLOGY CORPORATION

(An exploration stage company)

Notes to the financial statements

(Expressed in U.S. Dollars)

March 31, 2009



2.

Significant Accounting Policies - Continued


(k)

New Accounting Pronouncements - Continued


In April 2009, the FASB issued FASB Staff Position No. FAS 157-4 ("FSP FAS 157-4"), "Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly".  The FSP provides additional guidance for estimating fair value in accordance with FASB Statement No. 157, "Fair Value Measurements", when the volume and level of activity for the asset or liability have significantly decreased.  This FSP also includes guidance on identifying circumstances that indicate a transaction is not orderly.  The Company is required to adopt FSP FAS 157-4 in the quarter ended June 30, 2009.  The Company does not currently believe that adopting this FSP will have a material impact on the Company’s financial statements.


Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company’s financial statements upon adoption.



3.

Mineral Properties and Exploration


On April 23, 2004, the Company purchased the Rain #1 to Rain #20 (tenure number 407912 to 407931) mineral claims located in the Similkameen Mining Division, British Columbia, Canada, collectively known as Copper Prince Property, for a nominal amount from an officer of the Company.

 

As of December 31, 2006, the Company completed the phase one program of prospecting and geological mapping of the mineral claims and phase two program of geophysical surveying of the mineral claims.


On November 1, 2005, the Company acquired the Dalvenie Property located near Dease Lake, British Columbia which was comprised of 72 claims units covering approximately 4,446 acres through the Vice President of Exploration for a nominal amount of consideration.  The Company completed a phase one exploration program on the property.


Having completed preliminary exploration on both the Copper Prince and Dalvenie Properties without significantly encouraging results, the Company has let its claims lapse and is seeking additional exploration financing and properties.






TREND TECHNOLOGY CORPORATION

(An exploration stage company)

Notes to the financial statements

(Expressed in U.S. Dollars)

March 31, 2009



3.

Mineral Properties and Exploration - Continued

 

 

 

    March 1, 2003         
  (Commencement of    Year ended 
    operation) to   

March 31,

  March 31, 2009   2009   2008
Mineral Exploration Expenses:           
(a) Copper Prince Property             
   Consulting  23,000 
   Geochemical survey    2,700     
   Geophysical survey    4,237     
   Travel    6,800     
  36,737 
(b) Dalvenie Property             
   Acquisition cost  1,800 
   Assay fees    1,000     
   Consulting    5,050     
   Legal and regulatory    1,000     
   Travel    3,000     
  11,850 
Total  48,587 

 




4.

Loans payable


At March 31, 2009, the Company received operating loans of CAD$5,000 (US$3,968) and CAD$10,000 (US$7,935) from a shareholder and a third party company respectively.  Both loans bear annual interest at 5% and are due on demand.  A total of $219 has been accrued as interest payable as of March 31, 2009.  This interest payable is included in the balance sheets as “Accounts payable and accrued expenses”.


Also see note 9.





TREND TECHNOLOGY CORPORATION

(An exploration stage company)

Notes to the financial statements

(Expressed in U.S. Dollars)

March 31, 2009



5.

Related Party Transactions


At March 31, 2009, $50 was due to an officer on expenses incurred for exploration work in 2006 and $1,715 was due to a law firm related to a significant stockholder on expenses incurred for the Company.


Certain directors and officers of the Company provide services to the Company and receive nominal compensation for their services.


The related party transactions are recorded at the exchange amount established and agreed to between the related parties.



6.

Share Capital


On September 26, 2007, the Company completed a forward common stock split of 2 new shares for 1 outstanding old share. The financial statements have been retroactively restated to reflect the split.



7.

Segmented Information


The Company’s business is considered as operating in one segment based upon the Company’s organizational structure, the way in which the operation is managed and evaluated, the availability of separate financial results and materiality considerations.



8.

Income Tax


As at March 31, 2009, the Company has estimated net operating losses carryforward for tax purposes of approximately $178,000 (2008 – $150,000) which will expire starting in 2026 through 2029. This amount may be applied against future federal taxable income. The Company evaluates its valuation allowance requirements on an annual basis based on projected future operations. When circumstances change and this causes a change in management's judgment about the realizability of deferred tax assets, the impact of the change on the valuation allowance is generally reflected in current income.




TREND TECHNOLOGY CORPORATION

(An exploration stage company)

Notes to the financial statements

(Expressed in U.S. Dollars)

March 31, 2009



8.

Income Tax - Continued


The tax effects of temporary differences that give rise to the Company's deferred tax asset (liability) are as follows:


                                                                                                                                       2009                          2008

        Tax loss carryforwards                                                                          $         62,000              $        51,000

        Valuation allowance                                                                                       (62,000)                      (51,000)

                                                                                                                                                                                            

                                                                                                                          $                 -                $                 -

                                                                                                                                                                                            

                                                                                                                                                                                    




The changes in the valuation allowance from 2007 to 2008 and 2008 to 2009 were increases of $11,000.


9.

Subsequent Events


On May 11, 2009, a third party company forgave the outstanding loan of CDN$10,000 ($7,935) and the related interest repayable by the Company.


On May 11, 2009, a shareholder of the Company forgave the outstanding loan of CDN$5,000 ($3,968) and the related interest repayable by the Company.










 

 

 

Item 9.  Changes In and Disagreements With Accountants on Accounting and Financial Disclosure


We have had no disagreements on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure with any of our accountants in the two most recent fiscal years.


Item 9A.  Controls and Procedures


(a)

Evaluation of Disclosure Controls and Procedures


As required by Rule 13a-15 under the Exchange Act, as of the end of the period covered by this report, being March 31, 2009, we have carried out an evaluation of the effectiveness of the design and operation of our company's disclosure controls and procedures.  This evaluation was carried out under the supervision and with the participation of our management, including our president and chief executive officer.  Based upon that evaluation, our president and chief executive officer concluded that our disclosure controls and procedures were not effective as of March 31, 2009 because we identified material weaknesses in our internal control over financial reporting as described below.  There have been no changes in our internal controls over financial reporting that occurred during our most recent fiscal quarter that have affected, or are reasonably likely to affect our internal controls over financial reporting.


Despite the fact that all financial transactions are personally reviewed by our C.F.O., there are not enough independent employees or members of management to provide third party oversight and review of our C.F.O.’s activities.  For the foreseeable future, our company will be relatively inactive and will continue to process a relatively small number of financial transactions on a monthly and annual basis.  The number of individuals available to provide management oversight and reviews will be few and accordingly, we expect to have material weaknesses in our internal control over financial reporting until at least the completion of our 2010 fiscal year end on March 31, 2010.


Our company maintains a board of directors consisting of only one member.  This small board of directors is inadequate for providing independent oversight of our management team and does not allow us to staff important board of director committees such as an independent audit committee.  Given that our company has limited cash reserves, it is unlikely that we will be able to attract additional qualified members for our board of directors.  This is a material weakness in our internal control over financial reporting.  Additionally, to date, we do not have a designated financial expert and we do not have an established whistleblower program.  These are also material weaknesses in our internal control over financial reporting.


(b)

Management’s Report on Internal Control Over Financial Reporting


Our management is responsible for establishing and maintaining adequate internal control over financial reporting, and for evaluating the effectiveness of internal control over financial reporting as of March 31, 2009.  Internal control over financial reporting is a process designed by, or under the supervision of, our principal executive officer and principal financial officer, and effected by our board of directors, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with United States Generally Accepted Accounting Principles (“US GAAP”).  Our system of internal control over financial reporting includes those policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect our transactions and dispositions of assets; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with US GAAP; and our receipts and expenditures are being made only in accordance with authorizations of our management and directors; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of our assets that could have a material effect on our financial statements.


Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.  Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.


Our management evaluated the effectiveness of our internal control over financial reporting as of March 31, 2009 based upon criteria in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission.  Based on such evaluation, management determined that our internal control over financial reporting was not effective as of March 31, 2009 because the following material weakness in internal control over financial reporting existed as of March 31, 2009:


-

Our company is managed by a small number of individuals working out of offices in Vancouver, British Columbia.  We do not employ enough independent employees or members of management to provide third party oversight in review of our financial transactions on an ongoing basis.  Our C.F.O. is solely responsible for initiating, reviewing and recording of financial transactions.  Electronic and physical records of all of our company’s financial transactions are maintained by our Vancouver office but they are not subject to third party review.


-

Our company’s board of directors consists of one member who is also a member of management.  There is inadequate independent oversight of our management team and no staffing of important board of director committee such as our audit committee.  We lack a designated financial expert and a whistleblower program.


This annual report does not include an attestation report of the Registrant’s registered public accounting firm regarding internal control over financial reporting.  Management’s report was not subject to attestation by the Registrant’s registered public accounting firm pursuant to temporary rules of the Securities and Exchange Commission that permit the Registrant to provide only management’s report in this annual report.


Item 9B.  Other Information


None.


PART III


Item 10.  Directors, Executive Officers and Corporate Governance


All directors of our company hold office until the next annual meeting of the stockholders or until their successors have been elected and qualified.  The officers of our company are appointed by our board of directors and hold office until their death, resignation or removal from office.  Our directors, executive officers and significant employees, their ages, positions held, and duration as such, are as follows:



Name

Position Held

With the Registrant


Age


Date First Elected or Appointed

Leonard MacMillan

President, Chief Executive Officer, Chief Financial Officer, Secretary and Director

59

April 20, 2004

Gerry Diakow

Vice President of Exploration

58

November 15, 2004


Business Experience


The following is a brief account of the education and business experience during at least the past five years of each director, executive officer and key employee, indicating the principal occupation during that period, and the name and principal business of the organization in which such occupation and employment were carried out.


Our officers and director will serve until the next annual meeting of the shareholders or until his death, resignation, retirement, removal, or disqualification, or until his successors have been elected.  Vacancies in the existing Board of Directors are filled by majority vote of the remaining directors.  Our officer serves at the will of the Board of Directors.  There are no family relationships between any executive officer or director.  No officer or director of our company has, during the past five years, been named or involved in any bankruptcy proceedings, criminal proceedings, securities or banking regulatory enforcement action or federal or state securities or commodities law enforcement proceeding.


Resumes


Leonard MacMillan, President, C.E.O., C.F.O., Secretary and Director


Leonard MacMillan was appointed C.F.O., Secretary and Director on April 20, 2004.  Mr. MacMillan was then appointed President and C.E.O. of our company on February 12, 2007.  Mr. MacMillan has been employed continuously as managing director of Resource Management Associates in Vancouver, British Columbia since 1998.  Resource Management Associates is a private management consulting company.  In his capacity as managing director for Resource Management Associates, Mr. MacMillan provides management consulting services to private and public companies in the United States, Canada and Europe.  Mr. MacMillan's services include; providing introductions to sources of equity and debt financing, reviewing and advising on the implementation of business plans, reviewing merger and acquisition targets and conducting market analysis.  Mr. MacMillan is an officer and director of Lexaria Corp.  Lexaria Corp. is a public Nevada company.  Lexaria Corp. is an oil and gas exploration company.  Mr. MacMillan was appointed to his positions with Lexaria Corp. in January, 2005.


Gerry Diakow, Vice President of Exploration


Gerry Diakow was appointed to his position on November 15, 2004.  Mr. Diakow is a consulting geologist and works for other companies who pay Mr. Diakow for his services.  The majority of Mr. Diakow's working hours are spent on his consulting obligations.


From January, 1999 to the present, Mr. Diakow has acted as a contract project manager for Trilogy Metals Inc., a public mineral exploration company listed on the TSX Venture Exchange.  Mr. Diakow has been a director of Trilogy Metals Inc since March, 2001.  Mr. Diakow acted as Vice President of Exploration and Acquisitions for Cascadia Capital Corporation, a public mineral exploration company, from November, 2000 to September, 2002.  From June, 1997 to January, 1999, Mr. Diakow acted as President of Pacific Mining Co., a privately held Honduran mineral exploration company.  From January, 1994 until June, 1997, Mr. Diakow acted as President of Cimarron Corp., a privately held British Columbia mining exploration company.  Mr. Diakow graduated with a BSc. in Chemistry from Vancouver City College and the University of British Columbia.  Mr. Diakow also studied civil and structural engineering at the British Columbia Institute of Technology.  Mr. Diakow has been engaged primarily in mineral exploration for the past 34 years.  Mr. Diakow has been employed by major mineral exploration companies such as Union Carbide Mining Exploration as a diamond drilling supervisor, Canadian Superior Mining Exploration as a field geologist and Anaconda Mining Exploration as a field data processor.  Mr. Diakow has worked in mineral exploration extensively in Canada, the Western United States and in Central America.  Mr. Diakow is a member of the American Society of Economic Geologists.  Mr. Diakow is not a director or officer of any other reporting company.





 


 



Directorships




Name



Age



Position

Other Reporting Companies

In Canada or the United States

Company

Position

Leonard MacMillan

58

Director

Chief Executive Officer

Chief Financial Officer

Secretary

Lexaria Corp.

Vice President of Corporate Development and Director


Board and Committee Meetings


The Board of Directors of the Registrant held no formal meetings during the year ended March 31, 2009.  All proceedings of the Board of Directors were conducted by resolutions consented to in writing by all the directors and filed with the minutes of the proceedings of the directors.  Such resolutions consented to in writing by the directors entitled to vote on that resolution at a meeting of the directors are, according to the Nevada General Corporate Law and the By-laws of the Registrant, as valid and effective as if they had been passed at a meeting of the directors duly called and held.


For the year ended March 31, 2009 our only standing committee of the Board of Directors was our audit committee.


Audit Committee


Currently our audit committee consists of our entire Board of Directors.  We currently do not have nominating, compensation committees or committees performing similar functions.  There has not been any defined policy or procedure requirements for shareholders to submit recommendations or nomination for directors.


During fiscal 2009/2008, there were informal meetings held by this Committee.  The business of the Audit Committee was conducted by resolutions consented to in writing by all the members and filed with the minutes of the proceedings of the Audit Committee.


Audit Committee Financial Expert


Our board of directors has determined that it does not have a member of its audit committee that qualifies as an "audit committee financial expert" as defined in Item 401(e) of Regulation S-B, and is "independent" as the term is used in Item 7(d)(3)(iv) of Schedule 14A under the Securities Exchange Act of 1934, as amended.


We believe that the members of our board of directors are collectively capable of analyzing and evaluating our financial statements and understanding internal controls and procedures for financial reporting.  In addition, we believe that retaining an independent director who would qualify as an "audit committee financial expert" would be overly costly and burdensome and is not warranted in our circumstances given the early stages of our development and the fact that we have not generated any material revenues to date.


Involvement in Certain Legal Proceedings


Our directors, executive officers and control persons have not been involved in any of the following events during the past five years:


1.

any bankruptcy petition filed by or against any business of which such person was a general partner or executive officer either at the time of the bankruptcy or within two years prior to that time;


2.

any conviction in a criminal proceeding or being subject to a pending criminal proceeding (excluding traffic violations and other minor offences);


3.

being subject to any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting his involvement in any type of business, securities or banking activities; or


4.

being found by a court of competent jurisdiction (in a civil action), the Commission or the Commodity Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended, or vacated.


Section 16(a) Beneficial Ownership Compliance


Section 16(a) of the Securities Exchange Act requires our executive officers and directors, and persons who own more than 10% of our common stock, to file reports regarding ownership of, and transactions in, our securities with the Securities and Exchange Commission and to provide us with copies of those filings.  Based solely on our review of the copies of such forms received by us, or written representations from certain reporting persons, we believe that during fiscal year ended March 31, 2009, all filing requirements applicable to its officers, directors and greater than 10% percent beneficial owners were complied with.


Code of Ethics


Effective May 1, 2005, our company's board of directors adopted a Code of Business Conduct and Ethics that applies to, among other persons, our company's President and Secretary (being our principal executive officer, principal financial officer and principal accounting officer), as well as persons performing similar functions.  As adopted, our Code of Business Conduct and Ethics sets forth written standards that are designed to deter wrongdoing and to promote:


1.

honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;


2.

full, fair, accurate, timely, and understandable disclosure in reports and documents that we file with, or submit to, the Securities and Exchange Commission and in other public communications made by us;


3.

compliance with applicable governmental laws, rules and regulations;


4.

the prompt internal reporting of violations of the Code of Business Conduct and Ethics to an appropriate person or persons identified in the Code of Business Conduct and Ethics; and


5.

accountability for adherence to the Code of Business Conduct and Ethics.


Our Code of Business Conduct and Ethics requires, among other things, that all of our company's Senior Officers commit to timely, accurate and consistent disclosure of information; that they maintain confidential information; and that they act with honesty and integrity.


In addition, our Code of Business Conduct and Ethics emphasizes that all employees, and particularly Senior Officers, have a responsibility for maintaining financial integrity within our company, consistent with generally accepted accounting principles, and federal and state securities laws.  Any Senior Officer who becomes aware of any incidents involving financial or accounting manipulation or other irregularities, whether by witnessing the incident or being told of it, must report it to our company.  Any failure to report such inappropriate or irregular conduct of others is to be treated as a severe disciplinary matter. It is against our company policy to retaliate against any individual who reports in good faith the violation or potential violation of our company's Code of Business Conduct and Ethics by another.


Our Code of Business Conduct and Ethics was filed with the Securities and Exchange Commission as Exhibit 14.1 to our annual report for the year ended March 31, 2005.  We will provide a copy of the Code of Business Conduct and Ethics to any person without charge, upon request.  Requests can be sent to:  Trend Technology Corporation, c/o Suite 1210, 777 Hornby Street, Vancouver, B.C., V6Z 1S4.


Board Meetings and Committees


Our board of directors is currently comprised of one individual.  Decisions of the Board of Directors were generally taken by written resolutions.  Our board member is a resident in British Columbia.


Nominating Committee, Audit Committee and Compensation Committee


Our board of directors, consisting of one member, also constitutes each of the nominating committee, audit committee and compensation committee.  Given that our officers work on behalf of our company for no cash compensation, there is no purpose in forming an independent compensation committee.  Additionally, there is currently no function to be administered by a nominating committee as our existing officers and directors will be serving in those positions through the end of the 2010 fiscal year.  Our entire board of directors reviews the quarterly and annual financial statements and serves as a de facto audit committee.


Shareholder Communications


Investors and shareholders are able to send correspondence to the Registrant by mail or facsimile.


Item 11.  Executive Compensation


Our President, C.E.O., C.F.O. and Secretary, Mr. Leonard MacMillan, has agreed to act in those capacities without compensation until authorized by the board of directors, which is not expected to occur until we have generated revenues from operations.  Our Vice President of Exploration, Mr. Gerry Diakow was paid a monthly retainer of $1,000 during the year ended March 31, 2005 and a monthly retainer of $1,000 during the period April 1, 2005 to December 31, 2005.  This retainer was paid in recognition of the ongoing work Mr. Diakow does in sourcing and appraising potential exploration property prospects on our behalf.  Our officers and directors are not accruing any compensation pursuant to any agreement with us.  We have not authorized any securities for issuance under equity compensation plans.


SUMMARY COMPENSATION TABLE







Name and Principal Position




Year

Ended

March 31






Salary

($)






Bonus

($)





Stock

Awards

($)





Option

Awards

($)

Non-

Equity

Incentive

Plan Compen-

Sation

($)


Non-

Qualified

Deferred

Compen-

Sation

($)



All

Other

Comp-

ensation

($)






Total

($)

(a)

(b)

(c)

(d)

(e)

(f)

(g)

(h)

(i)

(j)

Leonard MacMillan,

C.F.O., Secretary and Director

2007

2008

2009

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

0

0

0

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

Gerry Diakow,

Vice President of Exploration

2007

2008

2009

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

0

0

0

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

0

0

0


Long-Term Incentive Plans


There are no arrangements or plans in which we provide pension, retirement or similar benefits for directors or executive officers, except that our directors and executive officers may receive stock options at the discretion of our board of directors.  We do not have any material bonus or profit sharing plans pursuant to which cash or non-cash compensation is or may be paid to our directors or executive officers, except that stock options may be granted at the discretion of our board of directors.


We have no plans or arrangements in respect of remuneration received or that may be received by our executive officers to compensate such officers in the event of termination of employment (as a result of resignation, retirement, change of control) or a change of responsibilities following a change of control, where the value of such compensation exceeds $60,000 per executive officer.


Compensation of Directors


We reimburse our directors for expenses incurred in connection with attending board meetings.  We did not pay director's fees or other cash compensation for services rendered as a director in the year ended March 31, 2009.


We have no formal plan for compensating our directors for their service in their capacity as directors, although such directors are expected in the future to receive stock options to purchase common shares as awarded by our board of directors or (as to future stock options) a compensation committee which may be established.  Directors are entitled to reimbursement for reasonable travel and other out-of-pocket expenses incurred in connection with attendance at meetings of our board of directors.  Our board of directors may award special remuneration to any director undertaking any special services on our behalf other than services ordinarily required of a director.  No director received and/or accrued any compensation for their services as a director, including committee participation and/or special assignments.


Employment Contracts


No consulting fees were paid during our fiscal years ended March 31, 2008 and 2009.


There are no arrangements or plans in which we provide pension, retirement or similar benefits for directors or executive officers.  Our directors and executive officers may receive stock options at the discretion of our board of directors in the future.  We do not have any material bonus or profit sharing plans pursuant to which cash or non-cash compensation is or may be paid to our directors or executive officers, except that stock options may be granted at the discretion of our board of directors.


We have no plans or arrangements in respect of remuneration received or that may be received by our executive officers to compensate such officers in the event of termination of employment (as a result of resignation, retirement, change of control) or a change of responsibilities following a change of control, where the value of such compensation exceeds $60,000 per executive officer.


Item 12.  Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters


The following table sets forth, as of June 17, 2009, certain information with respect to the beneficial ownership of our common stock by each stockholder known by us to be the beneficial owner of more than 5% of our common stock and by each of our current directors and executive officers.  Each person has sole voting and investment power with respect to the shares of common stock, except as otherwise indicated.  Beneficial ownership consists of a direct interest in the shares of common stock, except as otherwise indicated.










Title of Class


Name and Address

of Beneficial Owner


Amount and Nature

of Beneficial Owner


Percent

of Class

Common

Leonard MacMillan

Suite 1002

1122 Gilford Street

Vancouver, B.C., V6G 2P5

Officer and Director

11,200 shares

Direct Ownership

0.05%

Common

Gerry Diakow

1537 – 54th Street

Tsawwassen, B.C.  V4M 3H6

Vice President of Exploration

No Shares Owned

0.0%

Common

Graham Crabtree

294 Heywood House

Anguilla, B.W.I.

2,000,000 shares

Direct Ownership

9.8%

Common

Lyn Bell

3000 The Technology Campus

P.O. Box 213

Anguilla, B.W.I.

1,600,000 shares

Direct Ownership

7.84%


The balance of our outstanding common stock is held by approximately 56 registered shareholders.  We have 20,404,600 common shares issued and outstanding.


Beneficial ownership is determined in accordance with the rules of the Securities and Exchange Commission and generally includes voting or investment power with respect to securities.  Shares of our common stock which may be acquired upon exercise of stock options or warrants which are currently exercisable or which become exercisable within 60 days of the date of the table are deemed beneficially owned by the optionees.  Subject to community property laws, the persons or entities named in the table above have sole voting and investment power with respect to all shares indicated as beneficially owned by them.


Changes in Control


We are unaware of any contract or other arrangement the operation of which may at a subsequent date result in a change in control of our company.


Item 13.  Certain Relationships and Related Transactions and Director Independence


Except for related party transactions disclosed elsewhere, we have not entered into any related party transactions in the last fiscal year.  Our officers and directors are not related by blood or marriage.  Our former President and C.E.O., Mr. Gerald Tuskey, our President, C.E.O., C.F.O. and Secretary, Mr. Leonard MacMillan may be defined as promoters of our company based on their initiative in organizing and developing the business of our company.  Mr. Tuskey and Mr. MacMillan have not received any asset of value including money, property, contracts, options or rights directly or indirectly from our company.  Mr. MacMillan has purchased shares in our company at a price of $0.01 per share.



Director Independence


Our company has one member on its board of directors.  We consider a director to be “independent” if that person serves only as a member of our board of directors and is not otherwise employed by our company as an employee, officer or consultant.  Mr. Leonard MacMillan serves as our company’s President, Chief Executive Officer and Chief Financial Officer.  Mr. MacMillan does not receive cash compensation for acting in his capacities as President, C.E.O. and C.F.O., however, he is not considered independent.


Item 14.  Principal Accountant Fees and Services


Audit Fees


For the fiscal year ended March 31, 2009, the aggregate fees billed or accrued by Peterson Sullivan LLP for professional services rendered for the audit of our annual financial statements and review of the financial statements including our Quarterly Reports on Form 10-Q were $15,666.  For the fiscal year ended March 31, 2008, the aggregate fees billed or accrued by Peterson Sullivan LLP for professional services rendered for the audit of our annual financial statements and review of the financial statements including our Quarterly Reports on Form 10-QSB were $16,500.


Audit Related Fees


For the period ended March 31, 2009, the aggregate fees billed for assurance and related services by Peterson Sullivan LLP relating to the performance of the audit of our financial statements which are not reported under the caption "Audit Fees" above, was $0.00.  For the period ended March 31, 2008, the aggregate fees billed for assurance and related services by Peterson Sullivan LLP relating to the performance of the audit of our financial statements which are not reported under the caption "Audit Fees" above, was $0.00.


Tax Fees


For the period ended March 31, 2009, the aggregate fees billed by Peterson Sullivan LLP for other non-audit professional services, other than those services listed above, are expected to be $2,500.  For the period ended March 31, 2008, the aggregate fees billed by Peterson Sullivan LLP for other non-audit professional services, other than those services listed above, are expected to be $2,000.


We do not use Peterson Sullivan LLP for financial information system design and implementation.  These services, which include designing or implementing a system that aggregates source data underlying the financial statements or generates information that is significant to our financial statements, are provided internally or by other service providers.  We do not engage Peterson Sullivan LLP to provide compliance outsourcing services.


Effective May 6, 2003, the Securities and Exchange Commission adopted rules that require that before Peterson Sullivan LLP is engaged by us to render any auditing or permitted non-audit related service, the engagement be:


-

approved by our audit committee (which consists of our entire board of directors); or


-

entered into pursuant to pre-approval policies and procedures established by the board of directors, provided the policies and procedures are detailed as to the particular service, the board of directors is informed of each service, and such policies and procedures do not include delegation of the board of directors' responsibilities to management.


The board of directors pre-approves all services provided by our independent auditors.  All of the above services and fees were reviewed and approved by the board of directors either before or after the respective services were rendered.


The board of directors has considered the nature and amount of fees billed by Peterson Sullivan LLP and believes that the provision of services for activities unrelated to the audit is compatible with maintaining Peterson Sullivan LLP’s independence.


PART IV


Item 15.  Exhibits, Financial Statement Schedules


(a)

Documents filed as part of this report:


(1)

Financial Statements:  The following audited financial statements and report of independent registered public accounting firm are set forth in Part II, Item 8 of this report:


Report of Independent Registered Public Accounting Firm, dated June 24, 2009


Balance Sheets as of March 31, 2009 and 2008


Statements of Operations from March 1, 2003 (commencement of operations) to March 31, 2009 and for the years ended March 31, 2009 and 2008


Statements of Stockholders’ Equity (Deficit) for period from March 1, 2003 (commencement of operations) to March 31, 2009


Statements of Cash Flows from March 1, 2003 (commencement of operations) to March 31, 2009 and for the years ended March 31, 2009 and 2008


Notes to the Financial Statements


(2)

Financial statement schedules:  Not Applicable


(3)

Exhibit Listing


Exhibit

Number


Description

3.1

Articles of Incorporation (incorporated by reference from our Form 10-SB filed on October 7, 2004)

3.2

Bylaws (incorporated by reference from our Form 10-SB filed on October 7, 2004)

31

Section 302 Certification under Sarbanes-Oxley Act of 2002 of CEO and CFO

32

Section 906 Certification under Sarbanes-Oxley Act of 2002 of CEO and CFO









SIGNATURES


Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


TREND TECHNOLOGY CORPORATION



Dated:  June 26, 2009

Per:

/s/Leonard MacMillan

Leonard MacMillan,

President, C.E.O., C.F.O., Secretary

and Director (Principal Financial Officer

and Principal Accounting Officer)


Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following person on behalf of the registrant and in the capacities and on the date indicated.



Dated:  June 26, 2009

Per:

/s/Leonard MacMillan

Leonard MacMillan,

President, C.E.O., C.F.O., Secretary

and Director (Principal Financial Officer

and Principal Accounting Officer)