NEVADA | 98-0521119 | |
(State or other jurisdiction of
incorporation or organization)
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(I.R.S. Employer
Identification No.)
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Digital Development Partners, Inc.
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Balance Sheet
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as of
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September 30,
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December 31,
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|||||||
2011
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2010
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(Unaudited)
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ASSETS
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Current Assets
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||||||||
Cash
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$ | 48,408 | $ | 196,676 | ||||
Pre-paid Deposit
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16,680 | 269,128 | ||||||
Loan Receivable
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- | 33,000 | ||||||
65,088 | 498,804 | |||||||
Other Assets
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||||||||
Due From EFT International, Ltd.
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15,000 | - | ||||||
Goodwill
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- | 5,000 | ||||||
$ | 80,088 | $ | 503,804 | |||||
LIABILITIES AND STOCKHOLDERS' EQUITY
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Current Liabilities
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Accounts Payable
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32,601 | 16,920 | ||||||
Long Term Liabilities
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Loan Payable (Note 5)
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300,000 | 619,666 | ||||||
$ | 332,601 | $ | 636,586 | |||||
Stockholders' Equity
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Common Stock, $0.001 par value; authorized 225,000,000
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||||||||
shares; issued and outstanding
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||||||||
86,402,665 shares as of December 31, 2010,
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||||||||
86,402,665 shares as of September 30, 2011
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86,403 | 86,403 | ||||||
Additional Paid-In Capital
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8,281,164 | 8,281,164 | ||||||
Deficit
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(8,620,080 | ) | (8,500,349 | ) | ||||
Total Stockholders' Equity
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(252,513 | ) | (132,782 | ) | ||||
$ | 80,088 | $ | 503,804 |
DIGITAL DEVELOPMENT PARTNERS, INC.
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Statement of Operations
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(Unaudited)
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For the
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For the
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|||||||||||||||
Three Months Ended
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Nine Months Ended
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|||||||||||||||
September 30,
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September 30,
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|||||||||||||||
2011
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2010
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2011
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2010
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Revenue
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$ | 195,002 | $ | 100,000 | $ | 1,116,887 | $ | 101,200 | ||||||||
Cost of Sales
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180,000 | 76,454 | 1,033,990 | 92,500 | ||||||||||||
Operating Income
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15,002 | 23,546 | 82,897 | 8,700 | ||||||||||||
General and Administrative Expenses:
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- | |||||||||||||||
Advertising
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- | 55,000 | 61,235 | 57,383 | ||||||||||||
Consulting
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7,500 | 25,060 | 56,250 | 66,505 | ||||||||||||
Professional Fees
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10,805 | 6,815 | 27,271 | 66,326 | ||||||||||||
Transfer Fees
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- | 734 | 402 | 3,184 | ||||||||||||
Project Related Costs
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- | 17,746 | - | 14,742 | ||||||||||||
Other Administrative Expenses
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10,570 | 4,603 | 45,447 | 25,378 | ||||||||||||
Total General and
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||||||||||||||||
Administrative Expenses
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28,875 | 109,958 | 190,605 | 233,518 | ||||||||||||
Net Loss from Operations
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(13,873 | ) | (86,412 | ) | (107,708 | ) | (224,818 | ) | ||||||||
Other Income and Expense
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Interest Income
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- | 711 | - | 711 | ||||||||||||
Interest Expense
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(3,751 | ) | (6,639 | ) | (12,023 | ) | (9,510 | ) | ||||||||
(3,751 | ) | (5,928 | ) | (12,023 | ) | (8,799 | ) | |||||||||
Net Loss
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$ | (17,624 | ) | $ | (92,340 | ) | $ | (119,731 | ) | $ | (233,617 | ) | ||||
Loss Per Common Share:
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||||||||||||||||
Basic and Diluted
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$ | (0.00 | ) | $ | (0.00 | ) | $ | (0.00 | ) | $ | (0.00 | ) | ||||
Weighted Average Shares Outstanding,
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||||||||||||||||
Basic and Diluted:
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86,402,665 | 86,402,665 | 86,402,665 | 72,489,525 |
DIGITAL DEVELOPMENT PARTNERS, INC.
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Statement of Stockholders' Equity
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For the period from January 1, 2007 to September 30, 2011
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(Unaudited)
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Common Stock
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Additional
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Shareholders'
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||||||||||||||||||
Number of
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Paid-In
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Equity
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||||||||||||||||||
Shares
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Amount
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Capital
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Deficit
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(Deficit)
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Balances January 1, 2007
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- | $ | - | $ | - | $ | - | $ | - | |||||||||||
Common stock issued for cash,
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Jan. 10, 2007 @ $0.01 per share
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4,500,000 | 4,500 | 10,500 | 15,000 | ||||||||||||||||
Common stock issued for cash,
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May, 2007 @ $0.02 per share
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3,975,000 | 3,975 | 22,525 | 26,500 | ||||||||||||||||
Common stock issued for cash,
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June, 2007 @ $0.02 per share
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2,400,000 | 2,400 | 13,600 | 16,000 | ||||||||||||||||
Net loss for the year ended
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December 31, 2007
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(36,063 | ) | (36,063 | ) | ||||||||||||||||
Balances, December 31, 2007
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10,875,000 | $ | 10,875 | $ | 46,625 | $ | (36,063 | ) | $ | 21,437 | ||||||||||
Capital contributed Nov. 26, 2008
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5,000 | 5,000 | ||||||||||||||||||
Net loss for year ended Dec.31, 2008
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(23,253 | ) | (23,253 | ) | ||||||||||||||||
Balances, December 31, 2008
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10,875,000 | $ | 10,875 | $ | 51,625 | $ | (59,316 | ) | $ | 3,184 | ||||||||||
Capital contributed August 1, 2009
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100 | 100 | ||||||||||||||||||
Stock Issued for purchase of sub-
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||||||||||||||||||||
sidiary Aug 3, 2009 @ $0.0033/share
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15,495,000 | 15,495 | (10,495 | ) | 5,000 | |||||||||||||||
Sale of warrant @ $25,000 Aug.3, 2009 | 25,000 | 25,000 | ||||||||||||||||||
Common stock issued for cash
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Dec. 31, 2009 @ $0.75 per share.
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216,000 | 216 | 161,784 | 162,000 | ||||||||||||||||
Net loss for year ended Dec.31, 2009
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(168,723 | ) | (168,723 | ) | ||||||||||||||||
Balances, December 31, 2010
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26,586,000 | $ | 26,586 | $ | 228,014 | $ | (228,039 | ) | $ | 26,561 | ||||||||||
Capital Contributed Feb. 2, 2010
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75,000 | 75,000 | ||||||||||||||||||
January 5, 2010 Stock issued for debt
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100,000 | 100 | 99,900 | 100,000 | ||||||||||||||||
Common Stock issued for services
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@ $0.10 per share Feb. 2, 2010
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114,665 | 115 | 11,352 | 11,467 | ||||||||||||||||
Stock issued per Agreement with
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||||||||||||||||||||
EFT Biotech Holdings, Inc. Feb. 18, | ||||||||||||||||||||
2010 @ $0.10 per share
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79,265,000 | 79,265 | 7,847,235 | 7,926,500 | ||||||||||||||||
Common Stock returned to Treasury | ||||||||||||||||||||
and cancelled Feb. 22, 2010
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(20,095,000 | ) | (20,095 | ) | 20,095 | - | ||||||||||||||
June, 2010 stock issued pursuant to
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||||||||||||||||||||
completion of Sep. 2009 offering.
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432,000 | 432 | (432 | ) | - | |||||||||||||||
Net loss for year ended Dec.31, 2010
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(8,272,310 | ) | (8,272,310 | ) | ||||||||||||||||
Balances, December 31, 2010
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86,402,665 | $ | 86,403 | $ | 8,281,164 | $ | (8,500,349 | ) | $ | (132,782 | ) | |||||||||
Net loss for the nine months
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(119,731 | ) | (119,731 | ) | ||||||||||||||||
Balances, September 30, 2011
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86,402,665 | $ | 86,403 | $ | 8,281,164 | $ | (8,620,080 | ) | $ | (252,513 | ) |
For the
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||||||||
Nine Months Ended
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||||||||
September 30,
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||||||||
2011
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2010
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Cash flows from operating activities:
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Net loss
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$ | (119,731 | ) | $ | (233,617 | ) | ||
Adjustments to reconcile net loss to
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||||||||
net cash used by operating activities:
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- | - | ||||||
Change in operating assets and liabilities:
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||||||||
Accounts payable, accrued liabilities
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15,682 | (90,289 | ) | |||||
Deposits
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252,447 | (615,078 | ) | |||||
Net cash provided (used) by operating activities
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148,398 | (938,984 | ) | |||||
Cash flows from investing activities
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||||||||
Investment in EFT Project
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- | (8,030,492 | ) | |||||
Issue of stock for investment
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- | 8,026,500 | ||||||
Stock Option
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- | 100,000 | ||||||
Net cash provided (used) by investing activities
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- | 96,008 | ||||||
Cash flows from financing activities:
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||||||||
Repayment of loans
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(319,666 | ) | - | |||||
Proceeds of loan receivable
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33,000 | 668 | ||||||
Loan to related Party
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(15,000 | ) | 938,604 | |||||
Issue of stock for services
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- | 11,467 | ||||||
Contributed Capital
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- | 75,000 | ||||||
Net cash provided (used) by financing activities
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(301,666 | ) | 1,025,739 | |||||
Non cash impairment of Goodwill
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5,000 | |||||||
Net increase (decrease) in cash
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(148,268 | ) | 182,763 | |||||
Cash, beginning of the period
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196,676 | 21,561 | ||||||
Cash, end of the period
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$ | 48,408 | $ | 204,324 | ||||
Supplemental cash flow disclosure:
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Interest paid
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$ | - | $ | - | ||||
Taxes paid
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$ | - | $ | - |
2011 | 2010 | |||||||
Numerator: | ||||||||
Basic and diluted net loss per share: | ||||||||
Net Loss | $ | (119,731 | ) | $ | (233,617 | ) |
Denominator
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||||||||
Basic and diluted weighted average number of shares outstanding
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86,402,665 | 72,489,525 | ||||||
Basic and Diluted Net Loss Per Share | $ | (0.00 | ) | $ | (0.00 | ) |
September 30, 2011 | December 31, 2010 | |||
$ 16,680 | $ 269,128 |
September 30, 2011 | December 31, 2010 | |||
$ 0 | $ 0 |
September 30, 2011 |
December 31,
2010
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Loan Payable - EFT Biotech | $ | 300,000 | $ | 619,666 |
·
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involved the distribution of its shares in YuDeal to the Company’s shareholders; and
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·
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the acquisition of new line of technology which has the prospect of being the core of a commercially viable business.
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Increase (I)
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||||
Item
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or Decrease (D)
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Reason
|
||
Revenue
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I
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Sale of more phones during current quarter.
|
||
Operating Income, as a percentage of revenue
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D
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Reduction in the retail price of EFT phones
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||
Advertising
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D
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Marketing campaign conducted in prior year was not renewed.
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||||
Professional fees
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I
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Investor relations contract in force during 2010 was not renewed in 2011.
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||
Other Administrative Expenses
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I
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Expense associated with the hiring of a Chief Financial Officer for the Company.
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Increase (I)
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||||
Item
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or Decrease (D)
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Reason
|
||
Revenue
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I
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Increase in sales.
|
||
Operating Income,
|
||||
as a percentage of revenue
|
D
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Reduction in retail price of EFT phones.
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||
Professional fees
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D
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Investor relations contract in force during 2010 was not renewed.
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||
Other Administrative Expenses
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I
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Expense associated with the hiring of a Chief Financial Officer for the Company.
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Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
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Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
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Certification pursuant to Section 906 of the Sarbanes-Oxley Act.
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DIGITAL DEVELOPMENT PARTNERS, INC.
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|||
November __, 2011
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By:
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/s/ Jack Jie Qin | |
Jack Jie Qin, President and Principal Executive Officer | |||
November __, 2011
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By:
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/s/ William E. Sluss | |
William E. Sluss, Principal Financial and Accounting Officer | |||
November __, 2011
|
By:
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/s/ Jack Jie Qin | |
Jack Jie Qin
Principal Executive Officer
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November __, 2011
|
By:
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/s/ William E. Sluss | |
William E. Sluss | |||
Principal Financial Officer |
(1)
|
The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
|
(2)
|
The information contained in the Report fairly presents, in all material respects the financial condition and results of the Company.
|
November __, 2011
|
By:
|
/s/ Jack Jie Qin | |
Jack Jie Qin | |||
Principal Executive Officer | |||
November __, 2011
|
By:
|
/s/ William E. Sluss | |
William E. Sluss | |||
Principal Financial Officer | |||
Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2011 | Dec. 31, 2010 |
---|---|---|
Stockholders' Equity | ||
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, Authorized | 225,000,000 | 225,000,000 |
Common stock, Issued | 86,402,665 | 86,402,665 |
Common stock, outstanding | 86,402,665 | 86,402,665 |
Statements of Operations (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2011 | Sep. 30, 2010 | Sep. 30, 2011 | Sep. 30, 2010 | |
Income Statement [Abstract] | ||||
Revenue | $ 195,002 | $ 100,000 | $ 1,116,887 | $ 101,200 |
Cost of Sales | 180,000 | 76,454 | 1,033,990 | 92,500 |
Operating Income | 15,002 | 23,546 | 82,897 | 8,700 |
General and Administrative Expenses: | ||||
Advertising | 0 | 55,000 | 61,235 | 57,383 |
Consulting | 7,500 | 25,060 | 56,250 | 66,505 |
Professional Fees | 10,805 | 6,815 | 27,271 | 66,326 |
Transfer Fees | 0 | 734 | 402 | 3,184 |
Project Related Costs | 0 | 17,746 | 0 | 14,742 |
Other Administrative Expenses | 10,570 | 4,603 | 45,447 | 25,378 |
Total General and Administrative Expenses | 28,875 | 109,958 | 190,605 | 233,518 |
Net Loss from Operations | (13,873) | (86,412) | (107,708) | (224,818) |
Other Income and Expense | ||||
Interest Income | 0 | 711 | 0 | 711 |
Interest Expense | (3,751) | (6,639) | (12,023) | (9,510) |
Total | (3,751) | (5,928) | (12,023) | (8,799) |
Net Loss | $ (17,624) | $ (92,340) | $ (119,731) | $ (233,617) |
Loss Per Common Share: | ||||
Basic and Diluted | $ 0.00 | $ 0.00 | $ 0.00 | $ 0.00 |
Weighted Average Shares Outstanding, Basic and Diluted: | 86,402,665 | 86,402,665.00 | 86,402,665 | 72,489,525 |
Document and Entity Information (USD $) | 9 Months Ended | |
---|---|---|
Sep. 30, 2011 | Oct. 31, 2011 | |
Document And Entity Information | ||
Entity Registrant Name | Digital Development Partners, Inc. | |
Entity Central Index Key | 0001409999 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2011 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Is Entity a Well-known Seasoned Issuer? | No | |
Is Entity a Voluntary Filer? | No | |
Is Entity's Reporting Status Current? | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Public Float | $ 142,753 | |
Entity Common Stock, Shares Outstanding | 86,402,665 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2011 |
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Income Taxes | 9 Months Ended |
---|---|
Sep. 30, 2011 | |
Notes to Financial Statements | |
Income Taxes |
3. Income Taxes
No provision was made for federal income tax since the Company had an operating loss and has accumulated net operating loss carry-forwards of approximately $8.6 million. The net operating loss carry-forwards may be used to reduce taxable income through the year 2025. |
Summary of Significant Accounting Policies | 9 Months Ended |
---|---|
Sep. 30, 2011 | |
Notes to Financial Statements | |
Summary of Significant Accounting Policies |
Summary of Significant Accounting Policies
Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, and reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from those estimates. Significant estimates made by management are, among others, reliability of long-lived assets and deferred taxes.
Cash and equivalents
Cash and equivalents include investments with initial maturities of six months or less.
Fair Value of Financial Instruments
Income Taxes
The Company accounts for income taxes using the liability method prescribed by ASC 740, Income Taxes. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the year in which the differences are expected to reverse. The Company records a valuation allowance to offset deferred tax assets if based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rates is recognized as income or loss in the period that includes the enactment date.
The Company applied the provisions of ASC 740-10-50, Accounting For Uncertainty In Income Taxes, which provides clarification related to the process associated with accounting for uncertain tax positions recognized in its financial statements. Audit periods remain open for review until the statute of limitations has passed. The completion of review or the expiration of the statute of limitations for a given audit period could result in an adjustment to the Companys liability for income taxes. Any such adjustment could be material to the Companys results of operations for any given quarterly or annual period based, in part, upon the results of operations for the given period. As of December 31, 2010 and 2009, the Company had no uncertain tax positions, and will continue to evaluate for uncertain positions in the future.
The Company generated a deferred tax credit through net operating loss carryforward. However, a valuation allowance of 100% has been established.
Interest and penalties on tax deficiencies recognized in accordance with ASC accounting standards are classified as income taxes in accordance with ASC Topic 740-10-50-19.
Recent Accounting Pronouncements
The Company has reviewed issued and proposed accounting pronouncements and plans to adopt those that are applicable to it. The Company does not expect the adoption of any recently adopted or proposed pronouncements to have a material impact on its results of operations or financial position.
Basic and Diluted Net Loss Per Share
Net loss per share is calculated in accordance with ASC 260, Earnings Per Share, for the period presented. Basic net loss per share is based upon the weighted average number of
common shares outstanding. Diluted net loss per share is based on the assumption that all dilative convertible shares and stock options were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period.
As of September 30, 2011 the Company has potentially dilutive securities in outstanding warrants for the purchase of shares of common stock. Since the Company is in a loss position the warrants are anti-dilutive and not considered in the calculation.
The following is a reconciliation of the numerator and denominator of the basic and diluted earnings per share computations for the nine months ended September 30, 2011 and 2010:
2011 2010 Numerator:
Basic and diluted net loss per share: Net Loss $ (119,731) $ (233,617)
Denominator
Basic and diluted weighted average number of shares outstanding 86,402,665 72,489,525
Basic and Diluted Net Loss Per Share $ (0.00) $ (0.00) |
Capital Stock | 9 Months Ended |
---|---|
Sep. 30, 2011 | |
Notes to Financial Statements | |
Capital Stock |
3. Capital Stock
No stock was issued in the nine months ended September 30, 2011.
As of September 30, 2011, the Company was authorized to issue 225,000,000 common shares, of which 86,402,665 shares were issued and outstanding. |
Pre-paid Deposit | 9 Months Ended |
---|---|
Sep. 30, 2011 | |
Notes to Financial Statements | |
Pre-paid Deposit |
3. Pre-paid Deposit September 30, 2011 December 31, 2010
$ 16,680 $ 269,128
A deposit was made for the manufacture of EFT smart phones following purchase of distribution and servicing rights from EFT Holdings in February, 2010. The deposit has been depleted by orders for smart phones.
|
EFT Project | 9 Months Ended |
---|---|
Sep. 30, 2011 | |
Notes to Financial Statements | |
EFT Project |
3. EFT Project September 30, 2011 December 31, 2010
$ 0 $ 0
The worldwide distribution and servicing rights for the EFT Smart Phone were purchased from EFT Holdings, Inc, operating in China and Hong Kong, by the exchange of stock valued at $8,031,492. Impairment was considered at the year ended December 31, 2010 based on future cash flows, and the investment written down to zero. The Company still retains all rights originally purchased. |
Loans Payable | 9 Months Ended |
---|---|
Sep. 30, 2011 | |
Notes to Financial Statements | |
Loans Payable |
3. Loans Payable
September 30, 2011 December 31, 2010
Loan Payable EFT Biotech $ 300,000 $ 619,666
A promissory note for $500,000 was issued May 13, 2010 to EFT Holdings Inc. A series of advances was received from EFT Holdings during the fiscal year ended December 31, 2010 totaling $619,666. The note bears annual interest of 5%, requires no monthly payments, and matured November 13, 2010. The note was extended indefinitely. The note was paid down to $300,000 in January, 2011 |
Basis of Presentation and Nature of Operations | 9 Months Ended |
---|---|
Sep. 30, 2011 | |
Notes to Financial Statements | |
Basis of Presentation and Nature of Operations |
Basis of Presentation and Nature of Operations
These unaudited interim financial statements as of and for the three and nine months ended September 30, 2011 reflect all adjustments which, in the opinion of management, are necessary to fairly state the Company's financial position and the results of it's operations for the periods presented, in accordance with the accounting principles generally accepted in the United States of America. All adjustments are of a normal recurring nature.
These unaudited interim financial statements should be read in conjunction with the Company's financial statements and notes thereto included in the Company's fiscal year end December 31, 2010 report. The Company assumes that the users of the interim financial information herein have read, or have access to, the audited financial statements for the preceding period, and that the adequacy of additional disclosure needed for a fair presentation may be determined in that context. The results of operations for the nine month period ended September 30, 2011 are not necessarily indicative of results for the entire year ending December 31, 2011.
Organization
The Company was incorporated as Cyprium Resources, Inc. under the laws of the State of Nevada December 22, 2006. The Company was originally formed for mineral exploration in the United States. On May 19, 2009 the Company's name was changed to Digital Development Partners, Inc. The Company adopted December 31 as its fiscal year end.
Current Business of the Corporation
In January, 2007 the Company entered into a 20 year lease agreement with the owner of 10 mining claims situated in Utah, known as the King claims. The lease was maintained current through September 30, 2008, however mining activities were limited. The lease was terminated by mutual agreement in November 2008.
In a move to further the Company's plans to market an on-line coupon system to merchants, the Company gained control of two private companies in 2009 involved in related enterprises; 4gDeals Inc. (later Yu Deal Inc.), and Top Floor Studio. These companies began to work together on the project.
1. Acquisition of the worldwide distribution and servicing rights to a cell phone enterprise based in Hong Kong;
2. Change in management; 3. Sale of the Company's option on Top Floor Studio; 4. Distribution of the Company's shares in YuDeal, Inc. to the stockholders.
Pursuant to the plan, the Company's interests in Top Floor Studio and YuDeal Inc. were disposed of in February, 2010. The Company's option on Top Floor was sold to YuDeal, Inc. for YuDeal common stock, which in turn was exchanged for 20,095,000 shares of Company stock. These shares were returned to Treasury and cancelled. A residual of YuDeal stock was distributed to Company stockholders in March and April, 2010.
In connection with the reorganization, the management team of the Company resigned. The Company's president, Isaac Roberts, was replaced by Jack Jie Quin, president of EFT Holdings Inc. (formerly named EFT Biotech Holdings, Inc.).
On February 17, 2010 an agreement was signed with , EFT Holdings, Inc., which markets its "EFT-Phone" through direct marketing in China and Hong Kong. Its distribution and servicing rights were acquired by the Company in exchange for 79,265,000 shares of the Company's common stock. As a result, EFT Holdings Inc. became the Company's majority stockholder. |
Balance Sheets (Unaudited) (USD $) | Sep. 30, 2011 | Dec. 31, 2010 |
---|---|---|
Current Assets | ||
Cash | $ 48,408 | $ 196,676 |
Pre-paid Deposit | 16,680 | 269,128 |
Loan receivable | 0 | 33,000 |
Total Current Assets | 65,088 | 498,804 |
Other Assets | ||
Due From EFT Holdings, Inc. | 15,000 | 0 |
Goodwill | 0 | 5,000 |
Total Assets | 80,088 | 503,804 |
Current Liabilities | ||
Accounts Payable | 32,601 | 16,920 |
Long Term Liabilities | ||
Loan Payable (Note 5) | 300,000 | 619,666 |
Total Liabilities | 332,601 | 636,586 |
Stockholders' Equity | ||
Common Stock, $0.001 par value; authorized 225,000,000 shares; issued and outstanding 86,402,665 shares as at December31,2010, 86,402,665 shares as at September30, 2011 | 86,403 | 86,403 |
Additional Paid-In Capital | 8,281,164 | 8,281,164 |
Deficit | (8,620,080) | (8,500,349) |
Total Stockholders' Equity | (252,513) | (132,782) |
Total Liabilities and Stockholders Equity | $ 80,088 | $ 503,804 |