10-Q 1 f10qbrmaugust2014.htm BRM 10Q AUGUST 2014 BRM 10Q August 2014



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:  

August 31, 2014

 

 

 

 

 

 

 

[   ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

 

 

 

For the transition period from

___________

to

____________

 

 

 

 

 

 

 

 

Commission file number:

001 - 36123

 

 

 

 

 

 

 

 

 

Band Rep Management, Inc.

 

 

(Exact name of registrant as specified in its charter)

 

 

 

 

 

 

 

 

Nevada

 

 

45-5243254

 

(State or other jurisdiction of incorporation or organization)

(I.R.S. Employer Identification No.)

 

 

 

 

 

 

 

5481 Middleport Crescent, Mississauga,

Ontario L4Z 3V2, Canada

 

 

(Address of principal executive offices)   (Zip Code)

 

 

 

 

 

 

 

 

(775) 321-8207

 

 

(Registrant’s telephone number, including area code)

 

 

 

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.     

 

Yes |X| No |_|

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).                                                                                         Yes[  ]  No [  ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.

Large accelerated filer  [  ]

 Accelerated filer [   ]

Non-accelerated filer [   ]  (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 |_|

The number of shares outstanding of the Registrant's Common Stock as October 13, 2014 was 110,022,572 shares of common stock, $0.001 par value, issued and outstanding.



1






BAND REP MANAGEMENT, INC.

A DEVELOPMENT STAGE COMPANY

QUARTERLY REPORT ON FORM 10-Q

INDEX


 

 

Page Number

 

PART I

 

 

 

 

Item 1

Financial Statements

3

Item 2

Management’s Discussion and Analysis of Financial Condition and Results of Operations

10

Item 3

Quantitative and Qualitative Disclosures About Market Risk

13

Item 4

Controls and Procedures

13

 

 

 

 

 

 

 

PART II

 

 

 

 

Item 1

Legal Proceedings

14

Item 2

Unregistered Sales of Equity Securities and Use of Proceeds

15

Item 3

Defaults Upon Senior Securities

15

Item 4

Mine Safety Disclosures

15

Item 5

Other Information

15

Item 6

Exhibits

15

 

 

 






















2








 

 

 

 

 

 

Band Rep Management, Inc.

 

(A Development Stage Company)

 

FINANCIAL STATEMENTS

 

August 31, 2014

 

Unaudited

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 BALANCE SHEETS

 

 STATEMENTS OF OPERATIONS

 

 STATEMENT OF STOCKHOLDER'S EQUITY (DEFICIT)

 

 STATEMENTS OF CASH FLOWS

 

 NOTES TO FINANCIAL STATEMENTS

Band Rep Management, Inc.

 

(A Development Stage Company)

 

 

 

 

 

 

 BALANCE SHEETS

Unaudited

 

 

 

August 31, 2014

 

May 31, 2014

 

 

 

 

 

 

 

 

 

 

 

 

ASSETS

 

 

 

 

 

 

 

 

 

 

CURRENT ASSETS

 

 

 

 

Cash

$

515

$

515

TOTAL CURRENT ASSETS

 

515

 

515

TOTAL ASSETS

$

515

$

515

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS' DEFICIT

 

 

 

 

 

 

 

 

CURRENT LIABILITIES

 

 

 

 

Accounts payable and accrued liabilities

$

14,880

$

6,450

Due to related party

 

25,830

 

25,830

TOTAL CURRENT LIABILITIES

 

40,710

 

32,280

TOTAL LIABILITIES

 

40,710

 

32,280

 

 

 

 

 

 

STOCKHOLDERS' DEFICIT

 

 

 

 

Common Stock, $0.001 par value

 

 

 

 

Authorized

 

 

 

 

       200,000,000 shares of common stock, $0.001 par value,

 

 

 

 

Issued and outstanding

 

 

 

 

        110,022,572 shares of common stock

 

110,023

 

110,023

Deficit accumulated during development stage

 

 

(150,218)

 

(141,788)

TOTAL STOCKHOLDERS' DEFICIT

 

 

(40,195)

 

(31,765)

TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT

 

$

515

$

515

 

 

 

 

 

 

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

Band Rep Management, Inc.

 

A Development Stage Company

 

 

 

 

 

 

 

 STATEMENTS OF OPERATIONS

Unaudited

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3 months

 

3 months

 

From inception

 

 

Ended

 

ended

 

(May 4, 2012) to

 

 

August 31, 2014

 

August 31, 2013

 

August 31, 2014

EXPENSES

 

 

 

 

 

 

 

 

 

 

 

 

 

General and administrative

$

(1,430)

$

(1,375)

$

(11,795)

Professional fees

 

(7,000)

 

(6,500)

 

(39,750)

Total expenses

 

(8,430)

 

(7,875)

 

(51,545)

 

 

 

 

 

 

 

NET LOSS

$

(8,430)

$

(7,875)

$

(51,545)

 

 

 

 

 

 

 

BASIC LOSS PER COMMON SHARE

 

 

 

 

 

 

$

0.00

$

0.00

 

 

 

 

 

 

 

 

 

WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING

 

 

 

 

 

 

 

 

 

 

 

 

 

110,022,572

 

76,203,305

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

Band Rep Management, Inc.

(A Development Stage Company)

 

 

 

 

 

 

 

 

 STATEMENT OF STOCKHOLDER'S EQUITY (DEFICIT)

From inception (May 4, 2012) to August 31, 2014

Unaudited

 

 

 

 

 

Deficit

 

 

 

Common Stock

 

accumulated

 

 

 

 

 

during

 

 

 

Number of

 

 

 

development

 

 

 

shares

 

Amount

 

stage

 

Total

 

 

 

 

 

 

 

 

Inception (May 4, 2012)

 

 

 

 

 

 

 

Common stock issued for cash at $0.0001

 

 

 

 

 

 

 

per share on May 30, 2012

60,000,072

$

60,000

$

(54,000)

$

6,000

 

 

 

 

 

 

 

 

Net loss

 

 

 

 

(2,345)

 

(2,345)

 

 

 

 

 

 

 

 

Balance, May 31, 2012

60,000,072

 

60,000

 

(56,345)

 

3,655

 

 

 

 

 

 

 

 

Net Loss

 

 

 

 

(17,501)

 

(17,501)

 

 

 

 

 

 

 

 

Balance, May 31, 2013

60,000,072

 

60,000

 

(73,846)

 

(13,846)

 

 

 

 

 

 

 

 

Common stock issued for cash at $0.0001

 

 

 

 

 

 

 

per share on July 31, 2013

50,022,500

 

50,023

 

(44,673)

 

5,350

 

 

 

 

 

 

 

 

Net Loss

 

 

 

 

(23,269)

 

(23,269)

 

 

 

 

 

 

 

 

Balance, May 31, 2014

110,022,572

 

110,023

 

(141,788)

 

(31,765)

 

 

 

 

 

 

 

 

Net Loss

 

 

 

 

(8,430)

 

(8,430)

 

 

 

 

 

 

 

 

Balance, August 31, 2014

110,022,572

$

110,023

$

(150,218)

$

(40,195)

 

 

 

 

 

 

 

 

 

On February 6, 2014 the company approved a 187:1 forward split of the common stocks and on February 7, 2014 the company approved cancellation of 5,679,144 common stock (pre-split).   All shares have been retroactively restated.  See re-classification footnote No. 4

 

 

 

 

 

 

 

 

 

The accompanying notes are an integral part of these financial statements

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Band Rep Management, Inc.

(A Development Stage Company)

 

 STATEMENTS OF CASH FLOWS

Unaudited

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

From inception

 

 

 

3 Months

 

3 Months

 

May 4, 2012

 

 

 

ended

 

ended

 

 to

 

 

 

August 31, 2014

 

August 31, 2013

 

August 31, 2014

 

 

 

 

 

 

 

 

CASH FLOWS FROM OPERATING ACTIVITIES

 

 

 

 

 

 

 

Net loss

$

(8,430)

$

(7,875)

$

(51,545)

 

Change in operating assets and liabilities:

 

 

 

 

 

 

 

Increase (decrease) in accounts payable and accrued expenses

 

8,430

 

(1,500)

 

14,880

NET CASH USED IN OPERATING ACTIVITIES

 

-    

 

(9,375)

 

(36,665)

 

 

 

 

 

 

 

 

CASH FLOWS FROM FINANCING ACTIVITIES

 

 

 

 

 

 

 

Issuance of common stock

 

-    

 

-    

 

11,350

 

Due to related party

 

-    

 

9,700

 

25,830

NET CASH PROVIDED BY FINANCING ACTIVITIES

 

 

 

 

 

 

 

-    

 

9,700

 

37,180

 

 

 

 

 

 

 

 

NET INCREASE IN CASH

 

-    

 

325

 

515

 

 

 

 

 

 

 

 

CASH, BEGINNING OF PERIOD

 

515

 

154

 

-    

 

 

 

 

 

 

 

 

CASH, END OF PERIOD

$

515

$

479

$

515

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

Band Rep Management, Inc.

(A Development Stage Company)

 

 NOTES TO THE  UNAUDITED FINANCIAL STATEMENTS

 

August 31, 2014

 

NOTE 1 – FINANCIAL STATEMENTS

The accompanying financial statements have been prepared by the Company without audit.  In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at August 31, 2014, and for all periods presented herein, have been made.

 

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted.  It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s May 31, 2014 audited financial statements.  The results of operations for the periods ended August 31, 2014 and the same period last year are not necessarily indicative of the operating results for the full years.

 

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars

 

Cash and Cash Equivalents

The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents.

 

Use of Estimates and Assumptions

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

 

Financial Instruments

The carrying value of the Company's financial instruments approximates their fair value because of the short maturity of these instruments.


Earnings per Share

The Company computes loss per share in accordance with “ASC-260”, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period.  Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. The Company has no potential dilutive instruments and accordingly basic loss and diluted loss per share are the same.

 

Fair Value of Financial Instruments

Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of August 31, 2014. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values. These financial instruments include cash and accounts payable. Fair values were assumed to approximate carrying values for cash and payables because they are short term in nature and their carrying amounts approximate fair values or they are payable on demand

 

Level 1: The preferred inputs to valuation efforts are “quoted prices in active markets for identical assets or liabilities,” with the caveat that the reporting entity must have access to that market.  Information at this level is based on direct observations of transactions involving the same assets and liabilities, not assumptions, and thus offers superior reliability. However, relatively few items, especially physical assets, actually trade in active markets.

 

Level 2: FASB acknowledged that active markets for identical assets and liabilities are relatively uncommon and, even when they do exist, they may be too thin to provide reliable information. To deal with this shortage of direct data, the board provided a second level of inputs that can be applied in three situations.

 

Level 3: If inputs from levels 1 and 2 are not available, FASB acknowledges that fair value measures of many assets and liabilities are less precise. The board describes Level 3 inputs as “unobservable,” and limits their use by saying they “shall be used to measure fair value to the extent that observable inputs are not available.” This category allows “for situations in which there is little, if any, market activity for the asset or liability at the measurement date”. Earlier in the standard, FASB explains that “observable inputs” are gathered from sources other than the reporting company and that they are expected to reflect assumptions made by market participants.

 

Recent Accounting Procedures

The company has evaluated all the recent accounting pronouncements and believes that none of them will have a material effect on the company’s financial statement.

 

NOTE 3 – GOING CONCERN

 

The Company’s financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations.


In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking equity and/or debt financing. However management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.

 

The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

 

NOTE 4 – CAPITAL STOCK

 

On February 6, 2014, the Company approved an increase of authorized common shares to 200,000,000 common shares with a par value of $0.001 per share.  No preferred shares have been authorized or issued.  

 

On May 30, 2012, the sole Director purchased 6,000,000 shares of the common stock in the Company at $0.001 per share for $6,000.  

 

On July 31, 2013, the Company issued 267,500 Common shares at $0.020 per share for $5,350.  

 

On February 6, 2014 the company approved a 187:1 forward split of the common shares.  All shares have been retroactively restated.

 

On February 7, 2014 the Company redeemed 5,679,144 shares.

 

As of August 31, 2014, the Company has not granted any stock options and has not recorded any stock-based compensation.  


NOTE 5 – RELATED PARTY TRANSACTIONS

 

As of August 31, 2014, the Company received advances from the sole Director of $25,830, to pay for general operating expenses. The amount due to the related party is unsecured and non-interest bearing with no set terms of repayment.

 

 

NOTE 6 - SUBSEQUENT EVENTS

 

The Company has evaluated subsequent events from the balance sheet date through the date the financial statements were available to be issued and has determined that there are no events to disclose.

 







10




ITEM 2: MANAGEMENT`S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS


This section of this report includes a number of forward-looking statements that reflect our current views with respect to future events and financial performance.  Forward looking statements are often identified by words like: believe, expect, estimate, anticipate, intend, project and similar expressions or words which, by their nature, refer to future events.  You should not place undue certainty on these forward-looking statements, which apply only as of the date of this report.  These forward looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or our predictions.


Overview


Band Rep Management, Inc. (BRM, we, the Company) was incorporated in the State of Nevada as a for-profit Company on May 4, 2012 and established a fiscal year end of May 31.


The Company intends to find and manage new music talents and bands for a 25% take of the earnings.


Plan of Operation


As of August 31, 2014, our president and director has loaned $25,830 in the Company. At the present time, we have generated no revenues from our business operations. We will need additional cash and if we are unable to raise it, we will either suspend marketing operations until we do raise the cash necessary to continue our business plan, or we cease operations entirely.


If we are unable to complete any phase of our business plan or marketing efforts because we don’t have enough money, we will cease our development and/or marketing activities until we raise money.


As of the quarter ended August 31, 2014 we had $515 of cash on hand and operating expenses in the amount of $8,430 as compared to $515 of cash on hand and operating expenses of $7,875 for the three months ended August 31, 2013. These operating expenses were comprised of professional fees and office and general expenses.


Our current cash holdings will not satisfy our liquidity requirements and we will require additional financing to pursue our planned business activities.  We have registered 110,022,572 of  our common stock for sale to the public.  Our registration statement became effective on April 16, 2013 and we are in the process of seeking equity financing to fund our operations over the next 12 months.  


Management believes that if subsequent private placements are successful, we will generate sales revenue within the following twelve months thereof. However, additional equity financing may not be available to us on acceptable terms or at all, and thus we could fail to satisfy our future cash requirements.


In order to have a successful Business, BRM needs to implement its initial plan of operations as described below. We plan to have all the business structure ready before searching for the talents so we can start developing their careers and generating revenue. The actions described below are intended to take place in the order presented herein and only after successfully accomplishing the prior step.



11





-

Step 1 – Research and interviews with attorneys: Our president will search for legal advice for the preparation of an initial services contract. It will be important to find a competent and reliable attorney and negotiate the best possible fee. Because we will possibly need legal advice in various moments (between us and our possible clients, record labels, music studios, etc.), a good relationship with a good attorney will be essential. The time frame estimated to accomplish these tasks will be 2 months and cost estimated at $12,000.


-

Step 2 – Research and Initial contact with music studios and labels: Our president will, after completing the first step described above, research and negotiate deals with music studios and labels. The objective is to form long lasting relationships with agents and promoters. The time frame estimated to accomplish these tasks will be 4 months and cost estimated at $10,000.


-

Step 3 – Website development: We plan to have our website fully developed only when we have successfully completed the steps described above. The Company’s president will oversee all the development of the website and will hire the necessary third party web developer, if necessary. The new artists would be able to upload their files for future BRM analysis and approval. At that point, we believe that we’ll be prepared to manage our business. The time frame estimated to accomplish these task will be 3 months and cost estimated at $5,000.


-

Step 4 –Marketing Campaign: Our goal is to create public awareness on our business. We intend to advertise on internet social media channel’s, such as Facebook and place advertisements in specialized magazines and websites. The time frame estimated to accomplish these tasks will be 3 months and cost estimated at $12,000.


In summary, we anticipate that we will be fully operational 12 months after we have raised enough funds to implement our Plan of Operations. We believe that we will begin to generate revenue after we are able to successfully develop the steps described above. If we cannot generate sufficient revenues to continue operations, we will suspend or cease operations. We believe we will be able to successfully implement our plan of operations if we raise at least 25% of the securities offered for sale by the Company.


We do not currently have any employees and management does not plan to hire employees at this time. We do not expect the purchase or sale of any significant equipment and  have no current material commitments.


Limited Operating History; Need for Additional Capital


There is no historical financial information about us upon which to base an evaluation of our performance. We are a development stage corporation and have not generated any revenues from operations. We cannot guarantee we will be successful in our business operations. Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources.









12




Capital Resources


If BRM is unsuccessful in raising the additional proceeds through a private placement offering it will then have to seek additional funds through debt financing, which would be very difficult for a new development stage company to secure. Therefore, the company is highly dependent upon the success of the anticipated private placement offering described herein and failure thereof would result in BRM having to seek capital from other resources such as debt financing, which may not even be available to the company. However, if such financing were available, because BRM is a development stage company with no operations to date, it would likely have to pay additional costs associated with high risk loans and be subject to an above market interest rate. At such time these funds are required, management would evaluate the terms of such debt financing and determine whether the business could sustain operations and growth and manage the debt load. If BRM cannot raise additional proceeds via a private placement of its common stock or secure debt financing it would be required to cease business operations. As a result, investors in BRM common stock would lose all of their investment.


Off Balance Sheet Arrangement


The company is dependent upon the sale of its common shares to obtain the funding necessary to carry out its business plan.  Our President, Sergio Galli has undertaken to provide the Company with operating capital to sustain its business over the next twelve month period, as the expenses are incurred, in the form of a non-secured loan. However, there is no contract in place or written agreement securing these agreements.  Investors should be aware that Mr. Galli’s expression is neither a contract nor agreement between him and the company.


Other than the above described situation the Company does not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on the Company's financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.


ITEM 3: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK


Not required.


ITEM 4: CONTROLS AND PROCEDURES


Evaluation of Disclosure Controls and Procedures


Based upon an evaluation of the effectiveness of disclosure controls and procedures, our principal executive and financial officer  has concluded that as of the end of the period covered by this Quarterly Report on Form 10-Q our disclosure controls and procedures (as defined in Rules 13a-15(e) or 15d-15(e) under the Exchange Act) were not effective.  For the three-month period ended August 31, 2014 there were no changes in the internal control over this financial report. It remains the same as reported in our Annual Report on Form 10-K for the year ended May 31, 2014. The Company’s principal executive and financial officer has determined that there are material weaknesses in our disclosure controls and procedures.


The material weaknesses in our disclosure control procedures are as follows:


1.           Lack of formal policies and procedures necessary to adequately review significant accounting transactions. The Company utilizes a third party independent contractor for the



13




preparation of its financial statements. Although the financial statements and footnotes are reviewed by our management, we do not have a formal policy to review significant accounting transactions and the accounting treatment of such transactions. The third party independent contractor is not involved in the day to day operations of the Company and may not be provided information from management on a timely basis to allow for adequate reporting/consideration of certain transactions.


2.            Audit Committee and Financial Expert. The Company does not have a formal audit committee with a financial expert, and thus the Company lacks the board oversight role within the financial reporting process.


We intend to initiate measures to remediate the identified material weaknesses including, but not necessarily limited to, the following:


 

 Establishing a formal review process of significant accounting transactions that includes participation of the Chief Executive Officer, the Chief Financial Officer and the Company’s corporate legal counsel.


 

 Form an Audit Committee that will establish policies and procedures that will provide the Board of Directors a formal review process that will among other things, assure that management controls and procedures are in place and being maintained consistently.




Changes in Internal Controls over Financial Reporting


For the three-month period ended August 31, 2014 there were no changes in the internal control over financial reporting as reported in our Annual Report on Form 10-K for the year ended May 31, 2014. Management is aware that there is a significant deficiency and a material weakness in our internal control over financial reporting and therefore has concluded that the Company’s internal controls over financial reporting were not effective as of August 31, 2014. The significant deficiency relates to a lack of segregation of duties due to the small number of employees involvement with general administrative and financial matters.  The material weakness relates to a lack of formal policies and procedures necessary to adequately review significant accounting transactions. 


There have not been any changes in the Company's internal control over financial reporting during the quarter ended August 31, 2014 that have materially affected, or are reasonably likely to materially affect the Company's internal control over financial reporting.


 

 












14




PART II


ITEM 1: LEGAL PROCEEDINGS


The Company is not a party to any pending legal proceedings, and no such proceedings are known to be contemplated.


No director, officer, or affiliate of the issuer and no owner of record or beneficiary of more than 5% of the securities of the issuer, or any security holder is a party adverse to the small business issuer or has a material interest adverse to the small business issuer.


ITEM 2: UNREGISTERED SALES OF EQUITY SECURITIES AND  USE OF PROCEEDS


        None.


ITEM 3: DEFAULTS UPON SENIOR SECURITIES


        None


ITEM 4. MINE SAFETY DISCLOSURES


        Not Applicable


ITEM 5. OTHER INFORMATION


None


ITEM 6. EXHIBITS


3.1

Articles of Incorporation of Band Rep Management, Inc. (incorporated by reference from our Registration Statement on Form S-1 filed on August 17, 2012)

 

 

3.2

Bylaws of Band Rep Management, Inc. (incorporated by reference from our Registration Statement on Form S-1 filed on August 17, 2012)

 

 

31.1

Rule 13(a)-14(a)/15(d)-14(a) Certification of Chief Executive Officer

 

 

31.2

Rule 13(a)-14(a)/15(d)-14(a) Certification of Chief Financial Officer *

 

 

32.1

Section 1350 Certification of Chief Executive Officer

 

 

32.2

Section 1350 Certification of Chief Financial Officer **

 

 

101.INS

XBRL Instance Document

 

 

101.SCH

XBRL Taxonomy Extension Schema Document

 

 

101.CAL

XBRL Taxonomy Extension Calculation Linkbase Document

 

 

101.DEF

XBRL Taxonomy Extension Definition Linkbase Document

 

 

101.LAB

XBRL Taxonomy Extension Label Linkbase Document

 


101.PRE

XBRL Taxonomy Extension Presentation Linkbase Document

*     Included in Exhibit 31.1

**    Included in Exhibit 32.1

                                   

Signatures


Pursuant to the requirements of the Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


                        Band Rep Management, Inc.


BY:      /s/ Sergio Galli

 ----------------------

Sergio Galli

President, Secretary Treasurer, Principal Executive Officer,

Principal Financial Officer and Director




/s/ Sathaphon Srithonnang

 -------------------------------

Sathaphon Srithonnang

Secretary





Dated:  October 13, 2014





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