10-Q 1 v114151_10q.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-Q

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2008.

OR

o TRANSITIONAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ___________ to _____________

Commission file number: 333-148928

T.O.D. TASTE ON DEMAND INC.
(Name of small business issuer as specified in its charter)
 
Nevada
 
75-3255056
(state or other jurisdiction of incorporation or
organization)
 
(I.R.S. Employer Identification No.)

55 Hakeshet Street, Reuth, Israel 91708
(Address of principal executive offices)(Zip Code)

+972 8 9263001 
(Registrant’s telephone number, including area code)
 
____________________________________________________________   
(Former name, former address and former fiscal year, of changed since last report)

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 past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes ¨ No x

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. (Check one):

Large accelerated filer  o
Accelerated filer o
Non-accelerated filer o ( (Do not check if a smaller reporting company)
Smaller Reporting Company x

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

As of May 12, 2008, 3,654,400 shares of Common Stock, par value $0.001 per share, were outstanding.
 


Table of Contents  

Item No.  
Description 
 
Page No.
   
 
         
PART I – FINANCIAL INFORMATION
 
1
Item 1.
 
Financial Statements
 
1
Item 2.
 
Management’s Discussion and Analysis of Financial Condition and Results of Operations
 
11
Item 3.
 
Quantitative and Qualitative Disclosures About Market Risk
 
12
Item 4T.
 
Controls and Procedures
 
13
PART II – OTHER INFORMATION
 
13
Item 1.
 
Legal Proceedings
 
13
Item 1A
 
Risk Factors
 
13
Item 2.
 
Unregistered Sales of Equity Securities and Use of Proceeds
 
13
Item 3.
 
Defaults Upon Senior Securities
 
13
Item 4.
 
Submission of Matters to a Vote of Security Holders
 
13
Item 5.
 
Other Information
 
13
Item 6.
 
Exhibits
 
14
SIGNATURES
 
15
 
ii


PART I
FINANCIAL INFORMATION
 
T.O.D. TASTE ON DEMAND INC.
(A Development Stage Company)
Financial Statements
March 31, 2008
(Unaudited)
 
1


CONTENTS
 
 
Page(s)
   
Financial Statements:
 
   
Balance Sheets - As of March 31, 2008 (Unaudited) and November 30, 2007 (Audited)
3
   
Statements of Operations -
 
For the Three and Six Months Ended March 31, 2008 and for the Period from
August 31, 2007 (inception) to March 31, 2008 (Unaudited)
4
   
Statement of Cash Flows -
 
For the Period from August 31, 2007 (inception) to March 31, 2008 (Unaudited)
5
 
 
Notes to Financial Statements (Unaudited)
6 - 10
 
2

 
(A Development Stage Company)
Balance Sheets

   
March 31, 2008
 
November 30, 2007
 
   
(Unaudited)
 
(Audited)
 
Assets
         
           
Current Assets:
             
Cash
 
$
28,763
 
$
37,162
 
Prepaid expenses
   
417
   
750
 
Stock proceeds receivable
   
-
   
1,500
 
Total Current Assets
   
29,180
   
39,412
 
               
Total Assets
 
$
29,180
 
$
39,412
 
               
Liabilities and Stockholders' Equity
             
               
Current Liabilities:
             
Accounts payable
 
$
6,000
 
$
12,932
 
Total Current Liabilities
   
6,000
   
12,932
 
               
Stockholders' Equity:
             
Preferred stock, $0.001 par value; 10,000,000 shares authorized; none issued and outstanding
   
-
   
-
 
Common stock, $0.001 par value, 65,000,000 shares authorized; 3,654,400 shares issued and outstanding at March 31, 2008; 3,554,400 shares issued and outstanding at November 30, 2007
   
3,654
   
3,554
 
Additional paid-in capital
   
46,079
   
41,179
 
Deficit accumulated during the development stage
   
(26,553
)
 
(18,253
)
Total Stockholders' Equity
   
23,180
   
26,480
 
Total Liabilities and Stockholders' Equity
 
$
29,180
 
$
39,412
 

See accompanying notes to unaudited financial statements
 
3

 
T.O.D Taste On Demand Inc.
(A Development Stage Company)
Statements of Operations
(Unaudited)
 
   
For the Three Months Ended 
March 31, 2008
 
For the Six Months Ended
March 31, 2008
 
For the Period from
August 31, 2007 (Inception) to
March 31, 2008
 
               
Revenues
 
$
-
 
$
-
 
$
-
 
                     
Operating Expenses
                   
General and administrative
   
5,427
   
22,574
   
22,657
 
Research and development
   
-
   
4,432
   
4,432
 
Total Operating Expenses
   
5,427
   
27,006
   
27,089
 
                     
Loss from Operations
   
(5,427
)
 
(27,006
)
 
(27,089
)
                     
Other Income
                   
Interest income
   
310
   
536
   
536
 
Total Other Income
   
310
   
536
   
536
 
                     
Net Loss
 
$
(5,117
)  
$
(26,470
)  
$
(26,553
)
                     
Net Loss Per Share - Basic and Diluted
 
$
(0.00
)
$
(0.01
)
$
(0.01
)
                     
Weighted average number of shares outstanding during the period - basic and diluted
   
3,654,400
   
2,735,119
   
2,363,976
 
 
See accompanying notes to unaudited financial statements
 
4

 
T.O.D Taste On Demand Inc.
(A Development Stage Company)
Statement of Cash Flows
(Unaudited)
 
   
For the Period from
 
   
August 31, 2007 (Inception) to
 
   
March 31, 2008
 
       
CASH FLOWS FROM OPERATING ACTIVITIES:
       
Net Loss
 
$
(26,553
)
Adjustments to reconcile net loss to cash used in operating activities:
       
Stock issued for intellectual property - related party
   
1,000
 
Stock issued for future services - related party
   
1,000
 
Stock issued for consulting services
   
500
 
Changes in operating assets and liabilities:
       
(Increase) Decrease in prepaid expenses
   
(417
)
Increase (Decrease) in accounts payable
   
6,000
 
Net Cash Used In Operating Activities
   
(18,470
)
         
CASH FLOWS FROM FINANCING ACTIVITIES:
       
Proceeds from issuance of common stock
   
47,233
 
Net Cash Provided By Financing Activities
   
47,233
 
         
Net Increase (Decrease) in Cash
   
28,763
 
         
Cash - Beginning of Period
   
-
 
         
Cash - End of Period
 
$
28,763
 
         
SUPPLEMENTARY CASH FLOW INFORMATION:
       
Cash Paid During the Period for:
       
Taxes
 
$
-
 
Interest
 
$
-
 
 
See accompanying notes to unaudited financial statements
 
5

 
T.O.D. TASTE ON DEMAND INC.
(A Development Stage Company)
Notes to Financial Statements
March 31, 2008
(Unaudited)

Note 1 Basis of Presentation

The accompanying unaudited interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules and regulations of the United States Securities and Exchange Commission for interim financial information. Accordingly, they do not include all the information and footnotes necessary for a comprehensive presentation of financial position, results of operations, or cash flows. It is management's opinion, however, that all material adjustments (consisting of normal recurring adjustments) have been made which are necessary for a fair financial statement presentation.

The unaudited interim financial statements should be read in conjunction with the Company’s Registration Statement on Form SB-2, which contains the audited financial statements and notes thereto, together with the Management’s Discussion and Analysis, for the period ended November 30, 2007. The interim results for the period ended March 31, 2008 are not necessarily indicative of results for the full fiscal year.

Note 2 Nature of Operations and Summary of Significant Accounting Policies

Nature of Operations

T.O.D. Taste On Demand Inc. (the "Company"), was incorporated in Nevada on August 31, 2007.

The Company is developing a device that will allow drinkers of bottled water to choose one of a few flavors and make their own drink as they pour the water from the bottle into the glass.

Most activity through March 31, 2008 relates to the Company’s formation and the private offering as well as to the preparation and filing of a patent application in connection with the products the company is developing.

The Company’s fiscal year is June 30.

Development Stage

The Company's financial statements are presented as those of a development stage enterprise. Activities during the development stage primarily include equity based financing, and further development of the business plan.

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America 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 revenue and expenses during the reporting period. Actual results could differ from those estimates.
 
6


T.O.D. TASTE ON DEMAND INC.
(A Development Stage Company)
Notes to Financial Statements
March 31, 2008
(Unaudited)
 
Cash

For purposes of the statement of cash flows, the Company considers all highly liquid instruments purchased with a maturity of three months or less to be cash equivalents. At March 31, 2008, the Company had no cash equivalents.

Net Loss Per Share

Basic loss per share is computed by dividing net loss by weighted average number of shares of common stock outstanding during each period. Diluted earnings/(loss) per share is computed by dividing net income/(loss) by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during each period. For the three and six months ended March 31, 2008, and for the period from August 31, 2007 (inception) to March 31, 2008, respectively, the Company did not have any outstanding common stock equivalents; therefore, a separate computation of diluted earnings per share is not presented.

Stock-Based Compensation

All share-based payments to employees will be recorded and expensed in the statement of operations as applicable under SFAS No. 123R “Share-Based Payment”. The Company has not issued any stock based compensation since inception.

Research and Development

The Company expenses all research and development costs as incurred.

Fair Value of Financial Instruments

The carrying amounts of the Company’s short-term financial instruments, including accounts payable, approximate fair value due to the relatively short period to maturity for these instruments.

Recent Accounting Pronouncements

In September 2006, the FASB issued SFAS No. 157, “Fair Value Measurements”, which clarifies the principle that fair value should be based on the assumptions that market participants would use when pricing an asset or liability. It also defines fair value and established a hierarchy that prioritizes the information used to develop assumptions. SFAS No. 157 is effective for financial statements issued for fiscal years beginning after November 15, 2007. The Company does not expect SFAS No. 157 to have a material impact on its financial position, results of operations or cash flows.
 
7


T.O.D. TASTE ON DEMAND INC.
(A Development Stage Company)
Notes to Financial Statements
March 31, 2008
(Unaudited)
 
In February 2007, the FASB issued SFAS 159, “The Fair Value Option for Financial Assets and Financial Liabilities”, which permits entities to choose to measure many financial instruments and certain other items at fair value. The unrealized gains and losses on items for which the fair value option has been elected should be reported in earnings.  The decision to elect the fair value option is determined on an instrument-by-instrument basis, should be applied to an entire instrument and is irrevocable.  Assets and liabilities measured at fair values pursuant to the fair value option should be reported separately in the balance sheet from those instruments measured using other measurement attributes.  SFAS No. 159 is effective as of the beginning of the Company’s 2008 fiscal year. The adoption of SFAS No. 159 is not expected to have a material effect on its financial position, results of operations or cash flows.

In December 2007, the FASB issued SFAS No. 160, “Noncontrolling Interests in Consolidated Financial Statements, an amendment of Accounting Research Bulletin No 51” (SFAS 160). SFAS 160 establishes accounting and reporting standards for ownership interests in subsidiaries held by parties other than the parent, changes in a parent’s ownership of a noncontrolling interest, calculation and disclosure of the consolidated net income attributable to the parent and the noncontrolling interest, changes in a parent’s ownership interest while the parent retains its controlling financial interest and fair value measurement of any retained noncontrolling equity investment. SFAS 160 is effective for financial statements issued for fiscal years beginning after December 15, 2008, and interim periods within those fiscal years. Early adoption is prohibited. The adoption of SFAS No. 160 is not expected to have a material effect on its financial position, results of operations or cash flows.

In December 2007, the FASB issued SFAS 141R,“Business Combinations” (“SFAS 141R”), which replaces FASB SFAS 141,“Business Combinations”. This Statement retains the fundamental requirements in SFAS 141 that the acquisition method of accounting be used for all business combinations and for an acquirer to be identified for each business combination. SFAS 141R defines the acquirer as the entity that obtains control of one or more businesses in the business combination and establishes the acquisition date as the date that the acquirer achieves control.  SFAS 141R will require an entity to record separately from the business combination the direct costs, where previously these costs were included in the total allocated cost of the acquisition.  SFAS 141R will require an entity to recognize the assets acquired, liabilities assumed, and any non-controlling interest in the acquired at the acquisition date, at their fair values as of that date.  This compares to the cost allocation method previously required by SFAS No. 141.  SFAS 141R will require an entity to recognize as an asset or liability at fair value for certain contingencies, either contractual or non-contractual, if certain criteria are met.  Finally, SFAS 141R will require an entity to recognize contingent consideration at the date of acquisition, based on the fair value at that date.  This Statement will be effective for business combinations completed on or after the first annual reporting period beginning on or after December 15, 2008.  Early adoption of this standard is not permitted and the standards are to be applied prospectively only.  Upon adoption of this standard, there would be no impact to the  Company’s results of operations and financial condition for acquisitions previously completed.  The adoption of SFAS No. 141R is not expected to have a material effect on its financial position, results of operations or cash flows.
 
8


T.O.D. TASTE ON DEMAND INC.
(A Development Stage Company)
Notes to Financial Statements
March 31, 2008
(Unaudited)

In March 2008, the FASB issued SFAS No. 161 “Disclosures about Derivative Instruments and Hedging Activities—An Amendment of FASB Statement No. 133.” (“SFAS 161”). SFAS 161 establishes the disclosure requirements for derivative instruments and for hedging activities with the intent to provide financial statement users with an enhanced understanding of the entity’s use of derivative instruments, the accounting of derivative instruments and related hedged items under Statement 133 and its related interpretations, and the effects of these instruments on the entity’s financial position, financial performance, and cash flows. This statement is effective for financial statements issued for fiscal years beginning after November 15, 2008. We do not expect its adoption will have a material impact on our financial position, results of operations or cash flows.

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 and are not expected to have a material impact on the financial statements upon adoption.

Note 3 Going Concern

As reflected in the accompanying financial statements, the Company has a net loss of $5,117, net cash used in operations of $8,442 for the three months ended March 31, 2008, and a deficit accumulated during the development stage of $26,553 at March 31, 2008. In addition, the Company is in the development stage and has not yet generated any revenues. The ability of the Company to continue as a going concern is dependent on Management's plans, which include potential asset acquisitions, mergers or business combinations with other entities, further implementation of its business plan and continuing to raise funds through debt or equity raises. The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. These financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern.

Note 4 Stockholders’ Equity

In September 2007, the Company issued an aggregate 1,000,000 shares of common stock, having a fair value of $1,000 ($0.001/share), to its Chairman, CEO and Director for the acquisition of certain intellectual property (“IP”). The IP was received under an assignment agreement pertaining to the product known as "Taste on Demand" to the Company. Pursuant to Staff Accounting Bulletin Topic 5(G),“Transfers of Nonmonetary Assets by Promoters or Shareholders”, the patent was contributed to the Company at its historical cost basis of $0 as determined under generally accepted accounting principles. At March 31, 2008, the Company has expensed this stock issuance as a component of research and development.
 
9

 
T.O.D. TASTE ON DEMAND INC.
(A Development Stage Company)
Notes to Financial Statements
March 31, 2008
(Unaudited)
 
In September 2007, the Company issued 2,000,000 shares of common stock to its founders for $20,000 ($0.01/share).

In September 2007, the Company issued 100,000 shares of common stock, having a fair value of $1,000 ($0.01/share), based upon the recent cash offering price, to its Director, in consideration for future services. The Company is amortizing the related compensation on a quarterly basis over a one-year period. The Company has expensed $250 and $500 for the three and six months ended March 31, 2008, respectively, and the remaining $417 is reflected as a prepaid.

During October, November and December 2007, the Company issued an aggregate 544,400 shares of common stock to third party investors under a private placement offering for $27,233 ($0.05/share).

On November 2007, the Company issued 10,000 shares of common stock, having a fair value of $500 ($0.05/share), based upon the recent cash offering price, for consulting services rendered.
 
10

 
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.

As used in this Quarterly Report on Form 10-Q (this “Report”), references to the “Company,” “TOD,” “we,” “our” or “us” refer to T.O.D. Taste on Demand Inc. unless the context otherwise indicates.
 
This Management’s Discussion and Analysis of Financial Condition and Results of Operations should be read in conjunction with the financial statements and the notes thereto included elsewhere in this report and with the Management’s Discussion and Analysis or Plan of Operations and the audited financial statements and the notes thereto included in our Registration Statement on Form SB-2 (Registration No. 333-148928) for the period ended November 30, 2007.

Forward-Looking Statements

This Management’s Discussion and Analysis of Financial Condition and Results of Operations contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates, forecasts and projections about us, our future performance, the industry in which we operate, our beliefs and our management’s assumptions. In addition, other written or oral statements that constitute forward-looking statements may be made by us or on our behalf. Words such as “expects,” “anticipates,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to assess. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements.  Except as required under the federal securities laws and the rules and regulations of the Securities and Exchange Commission, we do not have any intention or obligation to update publicly any forward-looking statements or risk factors included herein, whether as a result of new information, future events, changes in assumptions or otherwise.

Our Business

We were incorporated in the State of Nevada on August 31, 2007. We are a development stage company and from our inception to date, we have not generated any revenue from operations.

Our goal is to develop a special device that will allow drinkers of bottled water to choose from certain selected flavors and make their own drink by virtue of pouring the water from the bottle through our filter cork. We have filed a patent application with the Israeli Patent Office covering our special cork device on October 23, 2007. The application is currently pending for approval.

On January 30, 2008 we filed a registration statement on Form SB-2 which was declared effective on February 14, 2008. As a result we became a reporting company. On February 26, 2008, our director Asael Karfiol was appointed as our Secretary. David Katzir remains our President, Treasurer and Director. We have appointed Island Stock Transfer as our transfer agent effective on February 21, 2008.

In addition, Spartan Securities Group, Ltd. has agreed to act as our market maker and has filed an application with the Financial Industry Regulatory Authority for our common stock to be eligible for quotation on the Over the Counter Bulletin Board. On April 22, 2008, our shares of common stock were approved for trading on the OTC Bulleting Board under the symbol TODT.OB.
 
11

 
Our vision is to develop our products that will become widely accepted in the market. Our growth may be achieved through licensing the technology, or direct manufacturing and distribution of our products. Therefore we plan to focus in the coming months on the development of the T.O.D. Cork and the application for flavoring water through capsules. We will aim to create a prototype of the T.O.D. Cork as well as the required capsules in four flavors within 9 months. As soon as we create a first prototype we plan to evaluate distribution methods and geographical markets and explore the following options in order to generate revenue: getting into manufacturing and distribution of our products or licensing the technology to companies such as beverages, and mineral water producers.

Results of Operations

We have not had any revenues from operations since our inception on August 31, 2007. We have accumulated a net loss of $5,117, or $0.00 per share, for the three months ended March 31, 2008 and $26,470, or $0.01 loss per share, for the six months ended March 31, 2008 compared with $26,553, or $0.01 loss per share, for the period from August 31, 2007 (inception) to March 31, 2008. This negative cash flow is mostly attributable to our operating expenses which amounted to $5,427 for the three months ended March 31, 2008, $27,006 for the six months ended March 31, 2008 and $27,089 for the period from August 31, 2007 (inception) to March 31, 2008. During the 3 months ended March 31, 2008, all of our operating expenses were attributed to general and administrative expenses, mainly in connection with payment for accounting and legal fees. During the six months ended March 31, 2008, our operating expenses included $4,432 of research and development and $22,574 of general and administrative expenses including but not limited to, expenses related to our formation, audit and legal fees. We anticipate that our research and development related expenses will increase as we intend to develop the T.O.D. Cork along with its first application that is designed to flavor water.

Liquidity and Capital Resources

As of March 31, 2008, we had cash of $28,763. Our cash may not be sufficient to provide for the basic operation expenses and maintenance costs for the next 12 months.

Our future success and ability to generate sufficient revenues to support our operation depends on the successful development and commercialization of our T.O.D. Cork. We expect to incur a minimum of $40,000 in expenses during the next twelve months of operations. In order to have sufficient cash to meet our anticipated requirements for the next twelve months, we may be dependent upon our ability to obtain additional financing. We could therefore be required to seek additional financing to pay for our expenses. We may have to borrow funds from time to time. There can be no assurance that we will be able to obtain such additional financing at acceptable terms to us, or at all. We currently have no agreements, arrangements or understandings with any person to obtain funds through bank loans, lines of credit or any other sources. Our inability to raise funds will have a severe negative impact on our ability to remain a viable company.

Going Concern Consideration

The Company has a net loss of $5,117 and net cash used in operations of $8,442 for the three months ended March 31, 2008. In addition, we have an accumulated deficit during the development stage of $26,553 as of March 31, 2008. At March 31, 2008, due to numerous negative indicators such as a loss from operations, net cash used in operations, and a deficit accumulated during the development stage, there are concerns regarding our ability to continue as a going concern. Our financial statements included in this report, as well as the audited financial statements included in our Registration Statement on Form SB-2 (Registration No. 333-148928) for the period ended November 30, 2007, contain additional note disclosures describing the circumstances that lead to this disclosure by our independent auditors.

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements.

Item 3.
Quantitative and Qualitative Disclosures About Market Risk.

Smaller reporting companies are not required to provide the information required by Item 305.
 
12


Item 4T.
 Controls and Procedures.

Evaluation of Disclosure Controls and Procedures
 
Our disclosure controls and procedures are designed to ensure that information required to be disclosed in reports that we file or submit under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the United States Securities and Exchange Commission. Our principal executive and financial officer has reviewed the effectiveness of our "disclosure controls and procedures" (as defined in the Securities Exchange Act of 1934 Rules 13a-14(c) and 15d-14(c)) within the end of the period covered by this Quarterly Report on Form 10-Q and has concluded that the disclosure controls and procedures are effective to ensure that material information relating to the Company is recorded, processed, summarized, and reported in a timely manner. There were no significant changes in our internal controls or in other factors that could significantly affect these controls subsequent to the last day they were evaluated by our principal executive and financial officer.

Changes in Internal Controls over Financial Reporting
 
There have been no changes in the Company's internal control over financial reporting during the last quarterly period covered by this report that have materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting.

OTHER INFORMATION


There are no pending legal proceedings to which the Company is a party or in which any director, officer or affiliate of the Company, any owner of record or beneficially of more than 5% of any class of voting securities of the Company, or security holder is a party adverse to the Company or has a material interest adverse to the Company. The Company’s property is not the subject of any pending legal proceedings.


There have been no material changes to the risks to our business described in our Quarterly Report on Form 10-Q for the quarter ended December 31, 2007 filed with the SEC on March 26, 2008.

Item 2. 
 Unregistered Sales of Equity Securities and Use of Proceeds.

None.


None.


There was no matter submitted to a vote of security holders during the fiscal quarter ended March 31, 2008.


None.
 
13

 
Item 6.
Exhibits.
 
Exhibit No.
 
Description
31.1
 
Certification of Principal Executive and Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
     
32.1
 
Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
 
14


SIGNATURES

In accordance with the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
     
T.O.D. TASTE ON DEMAND INC.
 May 15, 2008
   
 
 
 
 
By:
/s/  David Katzir
 
Name:
David Katzir
 
Title:
President, Treasurer, and Director (Principal
Executive and Financial Officer)
 
15