0001675426-16-000040.txt : 20160815 0001675426-16-000040.hdr.sgml : 20160815 20160815090028 ACCESSION NUMBER: 0001675426-16-000040 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 25 CONFORMED PERIOD OF REPORT: 20160630 FILED AS OF DATE: 20160815 DATE AS OF CHANGE: 20160815 FILER: COMPANY DATA: COMPANY CONFORMED NAME: British Cambridge, Inc. CENTRAL INDEX KEY: 0001657250 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EDUCATIONAL SERVICES [8200] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 333-207947 FILM NUMBER: 161830254 BUSINESS ADDRESS: STREET 1: GF UNIT D BELVEDERE TWR, SAN MIGUEL AVE CITY: PASIG CITY STATE: R6 ZIP: 1605 BUSINESS PHONE: 63-2-650-6565 MAIL ADDRESS: STREET 1: GF UNIT D BELVEDERE TWR, SAN MIGUEL AVE CITY: PASIG CITY STATE: R6 ZIP: 1605 10-Q 1 bc_q3.htm FORM 10-Q

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 June 30, 2016

OR  

[   ] 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: 333-207947

British Cambridge, Inc.

(Exact name of registrant as specified in its charter)

 

     
Delaware   37-1801552

(State or other jurisdiction

of incorporation or organization)

 

(I.R.S. Employer

Identification No.)

   

Ground Floor, Unit D, Belvedere Tower San Miguel Avenue,

Ortigas Center Pasig City, Philippines

  1605
(Address of principal executive offices)   (Zip Code)

 

N/A

(Former name if changed since last report)

 

Indicate by check mark whether the registrant (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act 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. [X] Yes [ ] 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 (Section 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). [X]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. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

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).

[X] Yes [ ] No

State the number of shares outstanding of each of the issuer’s classes of common equity, as of August 11, 2016: 241,042,000 shares of common stock.

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TABLE OF CONTENTS 

British Cambridge, Inc.

INDEX 

 

PART I-FINANCIAL INFORMATION

         
ITEM 1   FINANCIAL STATEMENTS   F1
   
Balance Sheets at June 30, 2016 (unaudited) and September 30, 2015   F1
   
Statements of Operations for the Three Months ended June 30, 2016 and Nine Months ended June 30, 2016 (unaudited)   F2
   
Statement of Cash Flows for the Nine Months ended June 30, 2016 (unaudited)   F3
   
Notes to Unaudited Financial Statements   F4
     
ITEM 2   MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS   3
     
ITEM 3   QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK   4
     
ITEM 4   CONTROLS AND PROCEDURES   4
 
PART II-OTHER INFORMATION
     
ITEM 1   LEGAL PROCEEDINGS   4
         
ITEM 1A   RISK FACTORS    
     
ITEM 2   UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS   4
     
ITEM 3   DEFAULTS UPON SENIOR SECURITIES   4
     
ITEM 4   MINE SAFETY DISCLOSURES   4
     
ITEM 5   OTHER INFORMATION   4
     
ITEM 6   EXHIBITS   5
   
SIGNATURES   6

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Table of Contents 

PART I - FINANCIAL INFORMATION

ITEM 1 FINANCIAL STATEMENTS

British Cambridge, Inc.

BALANCE SHEETS 

(Unaudited)

 

            June 30, 2016     September 30, 2015
                   
ASSETS      
  Cash   $                151,905   $                  - 
TOTAL ASSETS   $                151,905   $                  - 
                   
LIABILITIES AND STOCKHOLDERS’ DEFICIT          
    Customer Advances - related party   $ 35,000   $ -
  Total Liabilities   $ 35,000   $                  -
                   
  STOCKHOLDERS' DEFICIT:            
    Preferred stock ($.0001 par value, 100,000,000 shares authorized; 3,000,000 issued and outstanding as of June 30, 2016 and September 30, 2015)                300                  300
                   
    Common stock ($.0001 par value, 1,000,000,000 shares authorized, 241,042,000 shares issued and outstanding as of June 30, 2016 and 241,000,000 issued and outstanding as of September 30, 2015)             24,104             24,100
                   
    Additional Paid in Capital             75,534                  105
                   
    Accumulated Equity (Deficit)            16,967            (24,505)
  Total Stockholders' Equity (Deficit)                      116,905                      -
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT) $                  151,905   $                  -

See Accompanying Notes to Unaudited Financial Statements

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British Cambridge, Inc.

STATEMENTS OF OPERATIONS

(UNAUDITED)

 

        For the three months ended June 30, 2016   For the nine months ended June 30, 2016
             
Revenues          
  Revenue - related party   $                   65,000 $                 75,000
Total Revenues   $                   65,000 $                 75,000
           
Operating Expenses          
             
  Selling, general and administrative   $                   6,813 $                  33,528
Total Operating Expenses   $                   6,813 $                   33,528
             
Net Income   $                 58,187 $                 41,472
             
Net Income per share - Basic   $                      0.00 $                      0.00
             
Net Income per share - Diluted   $                      0.00 $                      0.00
           
Weighted average number of common shares outstanding - Basic             241,040,308            241,014,584
           
Weighted average number of common shares outstanding - Diluted               244,040,308            244,014,584

 

 

See Accompanying Notes to Unaudited Financial Statements

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British Cambridge, Inc.

STATEMENTS OF CASH FLOWS

(UNAUDITED) 

 

     For the nine months ended June 30, 2016 
     
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $                    41,472
Adjustments to reconcile Net income to net cash used in operating activities:    
Expenses contributed by shareholders                                33,433
Changes in assets and liabilities    
Customer Advances $ 35,000
Net cash used in operating activities                            109,905
     
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from sales of common stock $                    42,000
     
Net Change in Cash $                            151,905
Cash at beginning of period: $                              -
Cash at end of period: $                             151,905
     
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Interest paid $                              -
Income taxes paid $                              -

See Accompanying Notes to Unaudited Financial Statements

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British Cambridge, Inc.

NOTES TO FINANCIAL STATEMENTS

For the period ENDED June 30, 2016

(UNAUDITED)

 

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS

 

British Cambridge, Inc. (the Company) was incorporated under the laws of the State of Delaware on June 24, 2015. Currently, the Company has available an online education platform that we plan to license to third party universities and colleges for internal use amongst their base of students and faculty members.

Note 2 - Significant Accounting Policies 

Basis of presentation. 

The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Regulation S-X. The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s most recent Annual Financial Statements filed with the SEC on Form S-1. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim period presented have been reflected herein. Notes to the financial statements which would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal period, as reported in the Form S-1, have been omitted. 

 

The results of operations for the nine month period ended June 30, 2016 are not necessarily indicative of the results for the full fiscal year ending September 30, 2016.

 

The company was incorporated on 6/24/15. The Profit and Loss as well as Cash Flows for the period from 6/24/15 to 6/30/15 should be presented with a comparative period. However, this was not done previously due to the fact that the Company had no transactions that had been booked until July of 2015.

NOTE 3 - GOING CONCERN

The accompanying financial statements are prepared on a basis of accounting assuming that the Company is a going concern that contemplates realization of assets and satisfaction of liabilities in the normal course of business. The Company has few current revenue sources. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s management plans to engage in very limited activities without incurring any liabilities that must be satisfied in cash until a source of funding is secured. The Company will offer noncash consideration and seek equity lines as a means of financing its operations. If the Company is unable to obtain substantive revenue- producing contracts or financing or if the revenue or financing it does obtain is insufficient to cover any operating losses it may incur, it may substantially curtail or terminate its operations or seek other business opportunities through strategic alliances, acquisitions or other arrangements that may dilute the interests of existing stockholders. 

NOTE 4 - RELATED-PARTY TRANSACTIONS

 

Revenue

 

We have generated related party revenue in the amount of $75,000 in the nine month period ended June 30, 2016. The $75,000 was received from British Cambridge College, a Philippine University of which is in part owned by both our CEO Teodoro G. Bondoc Jr. and President Hatadi Shapiro Supaat. The $75,000 was paid in exchange for the use of our online education platform.

On April 1, 2016 a new lease agreement was made between the Company and British Cambridge College Inc. whereby British Cambridge College Inc. would lease the online platform from the Company for $100,000 per year for ten years beginning 10/1/15. As a result of the new agreement both parties agreed to cancel the previous agreement in which British Cambridge College, Inc. was to pay $10,000 to the Company each quarter. Any monies paid have been agreed to be credited towards the terms of the new agreement.

The form S-1 filed previously on December 22, 2015 references the previous agreement between the Company and British Cambridge, Inc., which is now cancelled and revised per the above agreement.

On August 1, 2016 the active agreement between British Cambridge, Inc. and British Cambridge College, executed on April 1, 2016 was revised to include more specific payment terms. The agreement was edited so that it specifically states the following: “The Lessee agrees to pay the Lessor the amount of $100,000 U.S. Dollars every year. If agreed upon by both parties the funds may be paid in another currency. The $100,000 payment is to be made yearly. It can be made in installments at any time throughout the course of the year so long as the full amount has been paid by the year end September 31.”

Customer Advances

During the three month period ended June 30, 2016, we received an additional $35,000 in advance payments from British Cambridge College to be used in the future as payment for the use of our online education platform.

Monetary Contributions

 

During the nine months ending June 30, 2016, $33,433 in expenses were paid by our President and principal shareholder and are considered contributions to capital and consisted mostly of professional fees.

 

NOTE 5 - EQUITY

 

On March 21, 2016 the Company sold 13,000 shares of common stock at $1.00 per share to thirteen investors.

On March 22, 2016 the Company sold 22,000 shares of common stock at $1.00 per share to twenty-two investors.

Of the 35,000 shares of common stock sold 1,000 shares were sold at $1.00 to our Director And Julie Rosal, 1,000 shares were sold at $1.00 to our Chief Operating Officer Dr. Aurora L. Jalocon, and 1,000 shares were sold at $1.00 to our Chief Accounting Officer Joseph L. Manzano.

On April 22, 2016 the Company sold 7,000 shares of common stock at $1.00 per share to seven investors.

NOTE 6 - SUBSEQUENT EVENTS

On August 1, 2016 the active agreement between British Cambridge, Inc. and British Cambridge College, executed on April 1, 2016 was revised to include more specific payment terms. The agreement was edited so that it specifically states the following: “The Lessee agrees to pay the Lessor the amount of $100,000 U.S. Dollars every year. If agreed upon by both parties the funds may be paid in another currency. The $100,000 payment is to be made yearly. It can be made in installments at any time throughout the course of the year so long as the full amount has been paid by the year end September 31.”

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

 

FORWARD LOOKING STATEMENTS

 

This Quarterly Report of British Cambridge, Inc. on Form 10-Q contains forward-looking statements, particularly those identified with the words, “anticipates,” “believes,” “expects,” “plans,” “intends,” “objectives,” and similar expressions. These statements reflect management's best judgment based on factors known at the time of such statements. The reader may find discussions containing such forward-looking statements in the material set forth under “Management's Discussion and Analysis of Financial Condition and Results of Operations,” generally, and specifically therein under the captions “Liquidity and Capital Resources” as well as elsewhere in this Quarterly Report on Form 10-Q. Actual events or results may differ materially from those discussed herein. The forward-looking statements specified in the following information have been compiled by our management on the basis of assumptions made by management and considered by management to be reasonable. Our future operating results, however, are impossible to predict and no representation, guarantee, or warranty is to be inferred from those forward-looking statements.

 

The assumptions used for purposes of the forward-looking statements specified in the following information represent estimates of future events and are subject to uncertainty as to possible changes in economic, legislative, industry, and other circumstances. As a result, the identification and interpretation of data and other information and their use in developing and selecting assumptions from and among reasonable alternatives require the exercise of judgment. To the extent that the assumed events do not occur, the outcome may vary substantially from anticipated or projected results, and, accordingly, no opinion is expressed on the achievability of those forward-looking statements. No assurance can be given that any of the assumptions relating to the forward-looking statements specified in the following information are accurate, and we assume no obligation to update any such forward-looking statements.

 

CRITICAL ACCOUNTING POLICIES AND ESTIMATES

 

We prepare our financial statements in conformity with GAAP, which requires management to make certain estimates and apply judgments. We base our estimates and judgments on historical experience, current trends and other factors that management believes to be important at the time the financial statements are prepared. Due to the need to make estimates about the effect of matters that are inherently uncertain, materially different amounts could be reported under different conditions or using different assumptions. On a regular basis, we review our critical accounting policies and how they are applied in the preparation of our financial statements.

 

While we believe that the historical experience, current trends and other factors considered support the preparation of our financial statements in conformity with GAAP, actual results could differ from our estimates and such differences could be material. 

PLAN OF OPERATION

Currently, we have available an online education platform that we plan to license to third party universities and colleges for internal use amongst their base of students and faculty members. We plan to market our online platform and improve upon the existing features it offers. For more details on how our platform operates, functions, and for our specific plan to market the platform, while increasing our current level of operations please reference our S-1 Registration Statement filed December 22, 2015.

RESULTS OF OPERATIONS

 

For the three months ended June 30, 2016

We have generated related party revenues of $65,000 for the three month period ended June 30, 2016, of which is attributed to our licensing agreement of our online education platform with British Cambridge College, Inc., a university located in the Philippines. 

Our operating expenses were $6,813 for the three months ended June 30, 2016. Operating expenses were solely general and administrative in nature and consisted primarily of professional fees. Our net income for the three month period ended June 30, 2016 was $58,187. 

 

For the nine months ended June 30, 2016

We have generated related party revenues of $75,000 for the nine month period ended June 30, 2016, of which is attributed to our licensing agreement of our online education platform with British Cambridge College, Inc., a university located in the Philippines.

Our operating expenses were $33,528 for the nine months ended June 30, 2016. Operating expenses were solely general and administrative in nature and consisted primarily of professional fees. Our net income profit for the nine month period ended June 30, 2016 was $41,472.

On March 21, 2016 the Company sold 13,000 shares of common stock at $1.00 per share to thirteen investors. These shares were registered by the Company via the Company’s S-1 Registration Statement deemed effective on December 30, 2015.

On March 22, 2016 the Company sold 22,000 shares of common stock at $1.00 per share to twenty-two investors. These shares were registered by the Company via the Company’s S-1 Registration Statement deemed effective on December 30, 2015.

On April 22, 2016 the Company sold 7,000 shares of common stock at $1.00 per share to seven investors.

LIQUIDITY AND CAPITAL RESOURCES

We have no known demands or commitments and are not aware of any events or uncertainties as of June 30, 2016 that will result in or that are reasonably likely to materially increase or decrease our current liquidity.

 

We had no material commitments for capital expenditures as of June 30, 2016.

 

As of June 30, 2016 we had cash consisting of $151,905.

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OFF-BALANCE SHEET ARRANGEMENTS

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 is material to investors.

 

ITEM 3 QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

As a “smaller reporting company” as defined by Item 10 of Regulation S-K, the Company is not required to provide the information required by this Item.

 

ITEM 4

 

CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

We maintain disclosure controls and procedures (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) that are designed to ensure that information required to be disclosed in the reports we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to our management, including our chief executive officer and chief financial officer, as appropriate to allow timely decisions regarding disclosure. In designing and evaluating the disclosure controls and procedures, management recognized that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives, and management necessarily was required to apply its judgment in evaluating the cost-benefit relationship of possible controls and procedures.

Our Principal Executive Officer and Principal Financial Officer evaluated the effectiveness of our disclosure controls and procedures as of June 30, 2016. Based on that evaluation, our Principal Executive Officer and Principal Financial Officer concluded that our disclosure controls and procedures as of the end of the period covered by this report were ineffective.

 

Changes in Internal Controls over Financial Reporting

There have been no significant changes to the Company’s internal controls over financial reporting that occurred during our last fiscal quarter ended June 30, 2016 that materially affected, or were reasonably likely to materially affect, our internal controls over financial reporting.

 

PART II - OTHER INFORMATION

 

Item 1 Legal Proceedings

 

There are not presently any material pending legal proceedings to which the Registrant is a party or as to which any of its property is subject, and no such proceedings are known to the Registrant to be threatened or contemplated against it.

  

Item 1A Risk Factors

 

There have been no material changes to the risk factors contained in our Form S-1 for the year ended September 30, 2015.

 

Item 2 Unregistered Sales of Equity Securities

 

On July 30, 2015 Hatadi Shapiro Supaat was issued 200,000,000 shares of restricted common stock and 3,000,000 shares of preferred stock all with a par value of .0001. Simultaneously, Teodoro G. Bondoc Jr. was issued 17,000,000 shares of restricted common stock with a par value of .0001. Michael Angelo F. Balagtas was issued 1,000,000 shares of restricted common stock, John N. Bautista was issued 1,000,000 shares of restricted common stock and Meugene M. Guiterrez was issued 1,000,000 shares of restricted common stock, all of which had a par value of .0001. Also on July 30, 2015 Dr. Eduardo Cabantog was issued 20,000,000 shares of restricted common stock with a par value of .0001.

 

The above stock issuances were issued in exchange for services rendered to developing the Company’s business plan.

 

We have issued the above shares at par value to the following individuals based off of our own perceived value that each individual has brought to the Company regarding their services.

 

Information regarding the above share issuances:

 

* Hatadi Shapiro Supaat is our President and Chairman of the Board of Directors.

* Dr. Eduardo Cabantog is a member of our Board of Directors.

* Teodoro Garcia Bondoc Jr. is our Chief Executive Officer and a member of our Board of Directors.

* Michael Angelo F. Balagtas is an employee of the Company.

* John N. Bautista is an employee of the Company.

* Meugene M. Guiterrez is an employee of the Company.

 

On September 29, 2015 we purchased the comprehensive rights to an online platform that streamlines online education from British Cambridge College, Inc. in exchange for 1,000,000 shares of restricted common stock in our Company.

 

On September 29, 2015 we executed a lease agreement with British Cambridge College, a Philippines Company in which they would, every three months, pay a fee of $10,000 to us in exchange for the license to use our platform. British Cambridge College, Inc. does not have the rights to distribute, sell or license the platform to any third parties.

 

On September 30, 2015 the Company issued 1,000,000 shares of restricted common stock at par value ($0.0001) to British Cambridge College, Inc.

On April 1, 2016 a new lease agreement was made between the Company and British Cambridge College Inc. whereby British Cambridge College Inc. would lease the online platform from the Company for $100,000 per year for ten years beginning 10/1/15. As a result of the new agreement both parties agreed to cancel the previous agreement in which British Cambridge College, Inc. was to pay $10,000 to the Company each quarter. Any monies paid have been agreed to be credited towards the terms of the new agreement.

The form S-1 filed previously on December 22, 2015 references the previous agreement between the Company and British Cambridge, Inc., which is now cancelled and revised per the above agreement.

On August 1, 2016 the active agreement between British Cambridge, Inc. and British Cambridge College, executed on April 1, 2016 was revised to include more specific payment terms. The agreement was edited so that it specifically states the following: “The Lessee agrees to pay the Lessor the amount of $100,000 U.S. Dollars every year. If agreed upon by both parties the funds may be paid in another currency. The $100,000 payment is to be made yearly. It can be made in installments at any time throughout the course of the year so long as the full amount has been paid by the year end September 31.”

Item 3 Defaults Upon Senior Securities

 

None.

 

Item 4 Mine Safety Disclosures

 

Not applicable.

 

Item 5 Other Information

 

None.

  

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Item 6 Exhibits

 

Exhibit No.

 

Description

3.1   Certificate of Incorporation (1)
     
3.2   By-laws (1)
     
31   Certification of the Company’s Principal Executive and Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, with respect to the registrant’s report on Form 10-Q for the period ended June 30, 2016 (2)
   
32   Certification of the Company’s Principal Executive and Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (2)
     
101.INS   XBRL Instance Document (3)
     
101.SCH   XBRL Taxonomy Extension Schema (3)
     
101.CAL   XBRL Taxonomy Extension Calculation Linkbase (3)
     
101.DEF   XBRL Taxonomy Extension Definition Linkbase (3)
     
101.LAB   XBRL Taxonomy Extension Label Linkbase (3)
     
101.PRE   XBRL Taxonomy Extension Presentation Linkbase (3)

 

(1) Filed as an exhibit to the Company's Registration Statement on Form S-1, as filed with the SEC on November 12, 2015 and incorporated herein by this reference.
(2) Filed herewith.
(3) Users of this data are advised that, pursuant to Rule 406T of Regulation S-T, these interactive data files are deemed not filed or part of a registration statement or Annual Report for purposes of Sections 11 or 12 of the Securities Act of 1933 or Section 18 of the Exchange Act of 1934 and otherwise are not subject to liability.

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SIGNATURES

 

In accordance with the requirements of the Exchange Act, the Registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

British Cambridge, Inc.

 

Dated: August 11, 2016

 

 

  By: /s/ Teodoro G. Bondoc Jr.
    Teodoro G. Bondoc Jr.,
Chief Executive Officer
(Principal Executive Officer), Director

 

 

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EX-31 2 ex31.htm EX-31

 

EXHIBIT 31.1

 

British Cambridge, INC.

OFFICER'S CERTIFICATE PURSUANT TO SECTION 302

 

I, Teodoro Garcia Bondoc Jr., the Principal Executive Officer of British Cambridge, Inc., certify that:

 

1.   I have reviewed this Form 10-Q of British Cambridge, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the small business issuer as of, and for, the periods presented in this report;

4. The small business issuer’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the small business issuer and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the small business issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the small business issuer's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The small business owner’s other certifying officer and I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the small business issuer's auditors and the audit committee of the small issuer's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the small business issuer's ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the small business issuer's internal control over financial reporting. 

 

Dated: August 11, 2016

 

By: /s/ Teodoro Garcia Bondoc Jr.

Teodoro Garcia Bondoc Jr.,

Chief Executive Officer

(Principal Executive Officer)

 

 

EXHIBIT 31.2

 

 

British Cambridge, INC.

OFFICER'S CERTIFICATE PURSUANT TO SECTION 302

 

I, Abdon P. Manaois, the Principal Financial Officer of British Cambridge, Inc., certify that:

 

1.   I have reviewed this Form 10-Q of British Cambridge, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the small business issuer as of, and for, the periods presented in this report;

4. The small business issuer’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the small business issuer and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the small business issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the small business issuer's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The small business owner’s other certifying officer and I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the small business issuer's auditors and the audit committee of the small issuer's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the small business issuer's ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the small business issuer's internal control over financial reporting. 

 

Dated: August 11, 2016

 

By: /s/ Abdon P. Manaois

Abdon P. Manaois,

Chief Financial Officer

(Principal Financial Officer)

EX-32 3 ex32.htm EX-32

EXHIBIT 32.1

 

 

British Cambridge, INC.

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906 OF

THE SARBANES-OXLEY ACT OF 2002

 

 

In connection with the Quarterly Report of British Cambridge, Inc. (the Company) on Form 10-Q for the period ended June 30, 2016 as filed with the Securities and Exchange Commission on the date hereof (the Report), I, Teodoro Garcia Bondoc Jr., Principal  Executive  Officer of the Company, certify,  pursuant to 18 U.S.C. ss.1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

 

(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 operations of the Company.

 

A signed original of this written statement required by Section 906 has been provided to Teodoro Garcia Bondoc Jr. and will be retained by British Cambridge, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

 

Dated: August 11, 2016

 

By: /s/ Teodoro Garcia Bondoc Jr.

Teodoro Garcia Bondoc Jr.,

Chief Executive Officer

(Principal Executive Officer)

 

 

 

 

EXHIBIT 32.2

 

 

British Cambridge, INC.

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906 OF

THE SARBANES-OXLEY ACT OF 2002

 

 

In connection with the Quarterly Report of British Cambridge, Inc. (the Company) on Form 10-Q for the period ended June 30, 2016 as filed with the Securities and Exchange Commission on the date hereof (the Report), I, Abdon P. Manaois, Principal  Financial  Officer of the Company, certify,  pursuant to 18 U.S.C. ss.1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

 

(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 operations of the Company.

 

A signed original of this written statement required by Section 906 has been provided to Abdon P. Manaois and will be retained by British Cambridge, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

 

Dated: August 11, 2016

 

By: /s/ Abdon P. Manaois

Abdon P. Manaois,

Chief Financial Officer

(Principal Financial Officer)

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Document Type 10-Q  
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Document Fiscal Year Focus 2016  
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Current liabilities    
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Income Statement [Abstract]    
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Total operating expenses 6,813 33,528
Net income $ 58,187 $ 41,472
Net income per share - basic $ (0.00) $ (0.00)
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NOTE 1. ORGANIZATION AND DESCRIPTION OF BUSINESS
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Organization, Consolidation and Presentation of Financial Statements [Abstract]  
NOTE 1. ORGANIZATION AND DESCRIPTION OF BUSINESS

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS

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Note 2 - Significant Accounting Policies 

Basis of presentation. 

The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Regulation S-X. The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s most recent Annual Financial Statements filed with the SEC on Form S-1. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim period presented have been reflected herein. Notes to the financial statements which would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal period, as reported in the Form S-1, have been omitted. 

 

The results of operations for the nine month period ended June 30, 2016 are not necessarily indicative of the results for the full fiscal year ending September 30, 2016.

 

The company was incorporated on 6/24/15. The Profit and Loss as well as Cash Flows for the period from 6/24/15 to 6/30/15 should be presented with a comparative period. However, this was not done previously due to the fact that the Company had no transactions that had been booked until July of 2015.

XML 16 R8.htm IDEA: XBRL DOCUMENT v3.5.0.2
NOTE 3. GOING CONCERN
9 Months Ended
Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
NOTE 3. GOING CONCERN

NOTE 3 - GOING CONCERN

The accompanying financial statements are prepared on a basis of accounting assuming that the Company is a going concern that contemplates realization of assets and satisfaction of liabilities in the normal course of business. The Company has few current revenue sources. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s management plans to engage in very limited activities without incurring any liabilities that must be satisfied in cash until a source of funding is secured. The Company will offer noncash consideration and seek equity lines as a means of financing its operations. If the Company is unable to obtain substantive revenue- producing contracts or financing or if the revenue or financing it does obtain is insufficient to cover any operating losses it may incur, it may substantially curtail or terminate its operations or seek other business opportunities through strategic alliances, acquisitions or other arrangements that may dilute the interests of existing stockholders. 

XML 17 R9.htm IDEA: XBRL DOCUMENT v3.5.0.2
NOTE 4. RELATED PARTY TRANSACTIONS
9 Months Ended
Jun. 30, 2016
Related Party Transactions [Abstract]  
NOTE 4. RELATED PARTY TRANSACTIONS

NOTE 4 - RELATED-PARTY TRANSACTIONS 

 

Revenue

 

We have generated related party revenue in the amount of $75,000 in the nine month period ended June 30, 2016. The $75,000 was received from British Cambridge College, a Philippine University of which is in part owned by both our CEO Teodoro G. Bondoc Jr. and President Hatadi Shapiro Supaat. The $75,000 was paid in exchange for the use of our online education platform.

On April 1, 2016 a new lease agreement was made between the Company and British Cambridge College Inc. whereby British Cambridge College Inc. would lease the online platform from the Company for $100,000 per year for ten years beginning 10/1/15. As a result of the new agreement both parties agreed to cancel the previous agreement in which British Cambridge College, Inc. was to pay $10,000 to the Company each quarter. Any monies paid have been agreed to be credited towards the terms of the new agreement.

The form S-1 filed previously on December 22, 2015 references the previous agreement between the Company and British Cambridge, Inc., which is now cancelled and revised per the above agreement.

On August 1, 2016 the active agreement between British Cambridge, Inc. and British Cambridge College, executed on April 1, 2016 was revised to include more specific payment terms. The agreement was edited so that it specifically states the following: “The Lessee agrees to pay the Lessor the amount of $100,000 U.S. Dollars every year. If agreed upon by both parties the funds may be paid in another currency. The $100,000 payment is to be made yearly. It can be made in installments at any time throughout the course of the year so long as the full amount has been paid by the year end September 31.”

Customer Advances

During the three month period ended June 30, 2016, we received an additional $35,000 in advance payments from British Cambridge College to be used in the future as payment for the use of our online education platform.

Monetary Contributions

 

During the nine months ending June 30, 2016, $33,433 in expenses were paid by our President and principal shareholder and are considered contributions to capital and consisted mostly of professional fees.

XML 18 R10.htm IDEA: XBRL DOCUMENT v3.5.0.2
NOTE 5. EQUITY
9 Months Ended
Jun. 30, 2016
Notes to Financial Statements  
NOTE 5. EQUITY

NOTE 5 - EQUITY

 

On March 21, 2016 the Company sold 13,000 shares of common stock at $1.00 per share to thirteen investors.

On March 22, 2016 the Company sold 22,000 shares of common stock at $1.00 per share to twenty-two investors.

Of the 35,000 shares of common stock sold 1,000 shares were sold at $1.00 to our Director And Julie Rosal, 1,000 shares were sold at $1.00 to our Chief Operating Officer Dr. Aurora L. Jalocon, and 1,000 shares were sold at $1.00 to our Chief Accounting Officer Joseph L. Manzano.

On April 22, 2016 the Company sold 7,000 shares of common stock at $1.00 per share to seven investors.

XML 19 R11.htm IDEA: XBRL DOCUMENT v3.5.0.2
NOTE 6. SUBSEQUENT EVENTS
9 Months Ended
Jun. 30, 2016
Subsequent Events [Abstract]  
NOTE 6. SUBSEQUENT EVENTS

NOTE 6 - SUBSEQUENT EVENTS

On August 1, 2016 the active agreement between British Cambridge, Inc. and British Cambridge College, executed on April 1, 2016 was revised to include more specific payment terms. The agreement was edited so that it specifically states the following: “The Lessee agrees to pay the Lessor the amount of $100,000 U.S. Dollars every year. If agreed upon by both parties the funds may be paid in another currency. The $100,000 payment is to be made yearly. It can be made in installments at any time throughout the course of the year so long as the full amount has been paid by the year end September 31.”

XML 20 R12.htm IDEA: XBRL DOCUMENT v3.5.0.2
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
9 Months Ended
Jun. 30, 2016
Accounting Policies [Abstract]  
Basis of Presentation

Basis of presentation. 

The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Regulation S-X. The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s most recent Annual Financial Statements filed with the SEC on Form S-1. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim period presented have been reflected herein. Notes to the financial statements which would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal period, as reported in the Form S-1, have been omitted. 

 

The results of operations for the nine month period ended June 30, 2016 are not necessarily indicative of the results for the full fiscal year ending September 30, 2016.

 

The company was incorporated on 6/24/15. The Profit and Loss as well as Cash Flows for the period from 6/24/15 to 6/30/15 should be presented with a comparative period. However, this was not done previously due to the fact that the Company had no transactions that had been booked until July of 2015.

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