10-Q 1 f10q0618_monetivainc.htm QUARTERLY REPORT

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

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

For the Quarterly Period Ended June 30, 2018

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

For the transition period from ______________ to ______________

Commission File No. 000-55670

Monetiva Inc.

(Exact name of small business issuer as specified in its charter)

DELAWARE		81-3495101
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

4695 MacArthur Court

Newport Beach, CA 92660

(Address of principal executive offices)

(949) 387-9799

(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 ☐ 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 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, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☒	Smaller reporting company	☒
		Emerging growth company	☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒

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

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered

The number of shares of Common Stock, $0.0001 par value, of the registrant outstanding at September 27, 2019 was 22,866,000.

TABLE OF CONTENTS

		Page No.
PART I.

Item 1. Financial Statements.		1

Condensed Balance Sheets as of June 30, 2018 (Unaudited) and December 31, 2017		1

Condensed Statements of Operations for the Three Months and Six Months ended June 30, 2018 and 2017 (Unaudited)		2

Condensed Statements of Stockholders’ Equity (Deficit) for the Three Months and Six Months ended June 30, 2018 and 2017 (Unaudited)		3

Condensed Statements of Cash Flows for the Six Months ended June 30, 2018 and 2017 (Unaudited)		4

Notes to Unaudited Condensed Financial Statements		5

Item 2. Management’s Discussion and Analysis or Plan of Operation		11

Item 3. Quantitative and Qualitative Disclosures About Market Risks.		16

Item 4. Controls and Procedures		16

PART II.

Item 1. Legal Proceedings.		17

Item 1A. Risk Factors.		17

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.		17

Item 3. Defaults Upon Senior Securities.		17

Item 4. Mine Safety Disclosures.		17

Item 5. Other Information.		17

Item 6. Exhibits.		17

SIGNATURES		18

EXHIBIT INDEX		19

FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q (“Form 10-Q”) contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including, but not limited to, any projections of earnings, revenue or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements concerning proposed new products or developments; any statements regarding future economic conditions or performance; any statements of belief; and any statements of assumptions underlying any of the foregoing. Although we believe that the expectations reflected in any of our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and inherent risks and uncertainties.

Forward-looking statements may include the words “may,” “could,” “will,” “estimate,” “intend,” “continue,” “believe,” “expect,” “desire,” “goal,” “should,” “objective,” “seek,” “plan,” “strive” or “anticipate,” as well as variations of such words or similar expressions, or the negatives of these words. These forward-looking statements present our estimates and assumptions only as of the date of this Form 10-Q. Except for our ongoing obligation to disclose material information as required by the federal securities laws, we do not intend, and undertake no obligation, to update any forward-looking statement. We caution readers not to place undue reliance on any such forward-looking statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes will likely vary materially from those indicated.

PART I.

Item 1. Financial Statements.

MONETIVA INC.

(Formerly American Standard Wallet, Inc.)

CONDENSED BALANCE SHEETS

	June 30, 2018			December 31, 2017
	(UNAUDITED)
ASSETS

Current Assets
Cash	$	69,643		$	-
Prepaid expense		195,000			-
Total Current Assets		264,643			-

Deposits		25,136			-

Total Assets	$	289,779		$	-

LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT)

Current Liabilities
Accrued liabilities	$	42,690		$	25,100
Accrued payroll - officer		1,900			23,700
Deferred rent		10,505			-
Payable to officer		200			-
Total Current Liabilities		55,295			48,800

Total Liabilities		55,295			48,800

Commitments and Contingencies

Stockholders’ Equity (Deficit)
Preferred stock, $0.0001 par value, 20,000,000 shares authorized; none issued and outstanding at June 30, 2018 and December 31, 2017, respectively		-			-
Common stock, $0.0001 par value, 100,000,000 shares authorized; 8,000,000 shares issued and outstanding at June 30, 2018 and December 31, 2017, respectively		800			800
Additional paid-in capital		4,312			4,312
Stock subscriptions received in advance		525,500			-
Accumulated deficit		(296,128	)		(53,912	)
Total Stockholders’ Equity (Deficit)		234,484			(48,800	)

Total Liabilities and Stockholders’ Deficit	$	289,779		$	-

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

MONETIVA INC.

(Formerly American Standard Wallet, Inc.)

CONDENSED STATEMENTS OF OPERATIONS

(UNAUDITED)

	For the Three Months Ended June 30, 2018			For the Three Months Ended June 30, 2017			For the Six Months Ended June 30, 2018			For the Six Months Ended June 30, 2017
	(Unaudited)			(Unaudited)			(Unaudited)			(Unaudited)

Revenue	$	-		$	-		$	-		$	-

Cost of revenue		-			-			-			-

Gross profit		-			-			-			-

Operating expenses
General and administrative		162,967			2,000			242,216			5,800
Total Operating expenses		(162,967	)		(2,000	)		(242,216	)		(5,800	)

Loss before income taxes		(162,967	)		(2,000	)		(242,216	)		(5,800	)

Provision for income tax		-			-			-			-

Net loss	$	(162,967	)	$	(2,000	)	$	(242,216	)	$	(5,800	)

Loss per share - Basic and Diluted	$	(0.02	)	$	(0.00	)	$	(0.03	)	$	(0.00	)

Weighted average shares outstanding - Basic and Diluted		8,000,000			8,000,000			8,000,000			12,833,978

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

MONETIVA INC.

(Formerly American Standard Wallet, Inc.)

CONDENSED STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT)

FOR THE THREE MONTHS AND SIX MONTHS ENDED JUNE 30, 2018 AND 2017

(UNAUDITED)

FOR THE THREE MONTHS	Common Stock						Additional Paid-in		Stock Subscriptions Received in		Accumulated			Total Stockholders’ Equity
ENDED JUNE 30, 2017	Shares			Amount			Capital		Advance		Deficit			(Deficit)

Balance - April 1, 2017		8,000,000		$	800		$	3,312	$	-	$	(11,862	)	$	(7,750	)

Contributed capital		-			-			1,000		-		-			1,000

Net loss		-			-			-		-		(2,000	)		(2,000	)

Balance - June 30, 2017		8,000,000		$	800		$	4,312	$	-	$	(13,862	)	$	(8,750	)

FOR THE SIX MONTHS ENDED JUNE 30, 2017

Balance - January 1, 2017		20,000,000		$	2,000		$	312	$	-	$	(8,062	)	$	(5,750	)

Issuance of common stock for services		8,000,000			800			-		-		-			800

Cancellation of common shares of founders		(20,000,000	)		(2,000	)		2,000		-		-			-

Contributed capital		-			-			2,000		-		-			2,000

Net loss		-			-			-		-		(5,800	)		(5,800	)

Balance - June 30, 2017		8,000,000		$	800		$	4,312	$	-	$	(13,862	)	$	(8,750	)

FOR THE THREE MONTHS	Common Stock				Additional Paid-in		Stock Subscriptions Received in		Accumulated			Total Stockholders’ Equity
ENDED JUNE 30, 2018	Shares		Amount		Capital		Advance		Deficit			(Deficit)

Balance - April 1, 2018		8,000,000	$	800	$	4,312	$	320,000	$	(133,161	)	$	191,951

Stock subscriptions received in advance		-		-		-		205,500		-			205,500

Net loss		-		-		-				(162,967	)		(162,967	)

Balance - June 30, 2018		8,000,000	$	800	$	4,312	$	525,500	$	(296,128	)	$	234,484

FOR THE SIX MONTHS ENDED JUNE 30, 2018

Balance - January 1, 2018		8,000,000	$	800	$	4,312	$	-	$	(53,912	)	$	(48,800	)

Stock subscriptions received in advance		-		-		-		525,500		-			525,500

Net loss		-		-		-		-		(242,216	)		(242,216	)

Balance - June 30, 2018		8,000,000	$	800	$	4,312	$	525,500	$	(296,128	)	$	234,484

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

MONETIVA INC.

(Formerly American Standard Wallet, Inc.)

CONDENSED STATEMENTS OF CASH FLOWS

(UNAUDITED)

	For the Six Months Ended June 30, 2018			For the Six Months Ended June 30, 2017
	(Unaudited)			(Unaudited)
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$	(242,216	)	$	(5,800	)
Adjustment to reconcile net loss to net cash used in operating activities:
Common stock issued for services		-			800
Expense paid by stockholder and contributed as capital		-			2,000
Changes in Operating Assets and Liabilities:
Prepaid expenses		(195,000	)		-
Deposits		(25,136	)		-
Accrued liabilities		17,590			3,000
Accrued payroll - officer		(21,800	)		-
Deferred rent		10,505			-
Net Cash Used in Operating Activities		(456,057	)		-

CASH FLOWS FROM FINANCING ACTIVITIES
Net proceeds from officer		200			-
Cash proceeds from stock subscriptions received in advance		525,500			-
Net Cash Provided By Financing Activities		525,700			-

Net Increase in Cash		69,643			-

Cash - Beginning of the Period		-			-

Cash - End of the Period	$	69,643		$	-

Supplemental Disclosures of Non-Cash Investing and Financing Activities:
Common stock issued for services	$	-		$	800
Redemption of common shares in connection with change of control	$	-		$	2,000
Accrued compensation of officer	$	105,800		$	-

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

MONETIVA INC.

(Formerly American Standard Wallet, Inc.)

NOTES TO CONDENSED FINANCIAL STATEMENTS

June 30, 2018 and 2017

(UNAUDITED)

NOTE 1 – NATURE OF OPERATIONS, BASIS OF PRESENTATION AND GOING CONCERN

Monetiva Inc. (formerly known as American Standard Wallet, Inc. and Lark Street Acquisition Corporation, or “Monetiva” or the “Company”), a Delaware corporation, was incorporated on July 22, 2016 under the laws of the state of Delaware to engage in any lawful corporate undertaking, including, but not limited to, selected mergers and acquisitions. The Company has been in the developmental stage since inception and its operations to date have been limited to issuing shares to its original shareholders.

On March 14, 2017, the Company effected a change of control by cancelling an aggregate of 20,000,000 shares of common stock of existing shareholders, accepting the resignations of its then existing officers and directors, electing a new officer and sole director and issuing 8,000,000 shares of common stock to the new shareholder. In connection with the change of control, the sole director of the Company and its board of directors unanimously approved the change of the Company’s name from Lark Street Acquisition Corporation to American Standard Wallet, Inc.

On November 1, 2017, the Company effected a change of control whereby then existing owner Mr. James Koh, the sole shareholder, officer and director of the Company, sold all 8,000,000 of his shares of the Company’s common stock to Mr. Pierre Sawaya. The Company accepted the resignation of Mr. Koh as the existing officer and director, electing a new officer and sole director upon issuance of the shares to Mr. Sawaya. In connection with the change of control, Mr. Sawaya, the sole shareholder and director of the Company unanimously approved the change of the Company’s name from American Standard Wallet, Inc. to Monetiva, Inc.

As of September 26, 2019, the Company has a total of 22,866,000 shares of common stock of the Company issued and outstanding. Of all shares issued and outstanding, a total of 20,000,000 common shares have been issued to the Company’s Board of Director and Founder of the Company, representing approximately 87.47% of the total shares issued and outstanding as of the date of this Report.

Basis of Presentation

The accompanying interim condensed financial statements are unaudited, but in the opinion of management of the Company, contain all adjustments, which include normal recurring adjustments necessary to present fairly the financial position at June 30, 2018, and the results of operations and cash flows for the six months ended June 30, 2018. The balance sheet as of December 31, 2017 is derived from the Company’s audited financial statements.

Certain information and footnote disclosures normally included in financial statements that have been prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission, although management of the Company believes that the disclosures contained in these interim condensed financial statements are adequate to make the information presented therein not misleading. For further information, refer to the financial statements and the notes thereto contained in the Company’s 2017 Annual Report filed with the Securities and Exchange Commission on Form 10-K on June 21, 2019.

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 the satisfaction of liabilities in the normal course of business. The Company has not yet generated any revenue and has sustained operating losses since July 22, 2016 (Inception Date) to date and allow it to continue as a going concern. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary financing to continue operations, and the attainment of profitable operations. The Company incurred a net loss of $242,216 for the six months ended June 30, 2018, used net cash in operating activities of $456,057, and has an accumulated deficit of $296,128 as of June 30, 2018. These factors, among others raise a substantial doubt regarding the Company’s ability to continue as a going concern. If the Company is unable to obtain adequate capital, it could be forced to cease operations. The accompanying financial statements do not include any adjustments to reflect the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The following summary of significant accounting policies of the Company is presented to assist in the understanding of the Company’s financial statements. The financial statements and notes are the representation of the Company’s management who is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”) in all material respects and have been consistently applied in preparing the accompanying financial statements.

Use of Estimates

The preparation of financial statements in conformity with GAAP 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. The Company regularly evaluates estimates and assumptions related to the valuation of accounts payable, accrued liabilities and payable to related party. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.

Cash and Cash Equivalents

The Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents. The Company had a cash balance of $69,643 and $0 as of June 30, 2018 and December 31, 2017, respectively.

Income Taxes

The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, “Income Taxes”. The asset and liability method provide that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax basis of assets and liabilities, and for operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized.

The Company follows the provisions of ASC 740-10, “Accounting for Uncertain Income Tax Positions.” When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. In accordance with the guidance of ASC 740-10, the benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above should be reflected as a liability for unrecognized tax benefits in the accompanying condensed balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination.

Earnings (Loss) Per Common Share

The Company computes net earnings (loss) per share in accordance with ASC 260, “Earnings per Share”. ASC 260 requires presentation of both basic and diluted net earnings per share (“EPS”) on the face of the income statement. Basic EPS is computed by dividing earnings (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible note and preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. At June 30, 2018 and December 31, 2017, there were no convertible notes, options or warrants available for conversion that if exercised, may dilute future earnings per share.

Fair value of Financial Instruments and Fair Value Measurements

ASC 820, “Fair Value Measurements and Disclosures”, requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value:

Level 1

Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level 2

Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.

Level 3

Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

The Company’s financial instruments consist principally of cash, accrued liabilities, deferred rent and payable to related party. Pursuant to ASC 820, “Fair Value Measurements and Disclosures” and ASC 825, “Financial Instruments”, the fair value of our cash equivalents is determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets. The Company believes that the recorded values of all the other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations.

Recent Accounting Pronouncements

In February 2016, the FASB issued Accounting Standards Update (“ASU”) ASU 2016-02, “Leases (Topic 842).” The objective of this update is to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. This ASU is effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020 and is to be applied utilizing a modified retrospective approach. The Company is currently evaluating this guidance to determine the impact it may have on its financial statements.

In June 2018, the Financial Accounting Standards Board (“FASB”) issued ASU 2018-07, Compensation – Stock Compensation (Topic 718), Improvements to Nonemployee Share-Based Payment Accounting. This ASU is intended to simplify aspects of share-based compensation issued to non-employees by making the guidance consistent with accounting for employee share-based compensation. This guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within that fiscal year. Early adoption is permitted. The Company is currently in the process of evaluating the impact of this guidance on its financial statements.

There were other updates recently issued accounting pronouncement. The Company’s management does not believe that other than disclosed above, accounting pronouncements that recently issued but not yet adopted will have a material impact on its financial position, results of operations or cash flows.

NOTE 3 – ACCRUED LIABILITIES

The Company had accrued liabilities primarily consisting of consulting and professional fees, payroll and franchise taxes of $42,690 and $25,100 as of June 30, 2018 and December 31, 2017, respectively.

NOTE 4 – RELATED PARTY TRANSACTIONS

On March 14, 2017, the Company issued 8,000,000 shares of its common stock at $0.0001 per share (par value) to its former President, a former officer and director of the Company, valued at $800 as compensation expense for services performed. In addition, on November 15, 2017, the Company executed an employment agreement with its Chief Executive Officer (“Officer”) and granted 12,000,000 shares of its common stock at par value at $1,200, as a sign-on bonus. The 12,000,000 shares of common stock were not issued until January 14, 2019. The Company has recorded the sign-on bonus expense of $1,200 as accrued compensation of officer as of June 30, 2018 and December 31, 2017, respectively.

On January 4, 2018, the Officer advanced the Company $200 to open Company’s bank account. On February 5, 2018 and March 1, 2018, the Officer paid two instalments of $40,000 and $57,300 from the Company’s funds to a former officer and director to acquire all the issued and outstanding common stock owned by the former officer and director (8,000,000 common shares) of the Company for $97,300. On April 6, 2018, the Officer took a short-term advance from the Company of $8,500. The Company offset the receivable from the Officer against the payroll compensation of $105,800 due to the Officer as of June 30, 2018. As a result, the Company recorded a net payable to officer of $200 at June 30, 2018, and a net payable of accrued compensation to Officer of $1,900 and $23,700 at June 30, 2018 and December 31, 2017, respectively.

NOTE 5 – COMMITMENTS AND CONTINGENCIES

Lease Commitments

On February 9, 2018, the Company executed a non-cancellable operating lease for its principal office with the lease commencing March 1, 2018 for a period of 21 months maturing on November 30, 2019. The Company paid a security deposit of $25,136. The base rent of the lease was $12,202 for the first twelve months, increasing to $12,568 from the month thirteen to month twenty-one. The lease had a provision for rent abatement for only one month - April 2018. The Company has recorded rent expense of $35,333 and $47,111 for the three months and six months ended June 30, 2018, and $0 for the three months and six months ended June 30, 2017, respectively. In addition, the Company recorded a payable of deferred rent of $10,505 and $0 at June 30, 2018 and December 31, 2017, respectively.

Future minimum lease commitments of the Company are as follows:

For the years ending December 31,:	Amount
2018	$	73,211
2019	$	137,514
Total	$	210,725

Employment Agreement with Officer

On November 1, 2017, the Company entered into an employment agreement with its Officer for a one-year term, which shall be automatically renewed for successive one-year periods unless either party gives ninety (90) calendar days written notice of nonrenewal prior to the expiration of the then-current term. The Company granted 12,000,000 shares of its common stock to the Officer as a sign-on bonus valued at $1,200, and agreed to pay an annual base salary of $180,000 provided that the Officer’s base salary may be reduced to the extent that Officer elects to defer any portion thereof under the terms of any deferred compensation or savings plan maintained by the Company. In addition to the eligibility for consideration of merit-based increases in the discretion of the Board of Directors, Officer’s base salary will be increased effective January 1, of each year during the term commencing January 1, 2018 by ten percent (10%). The Company has recorded Officer’s compensation expense of $49,500 and $99,000 for the three months and six months ended June 30, 2018 and $0 for the three months and six months ended June 30, 2017, respectively.

Prepaid Debit Cards Commitment

On January 15, 2018, the Company entered into an agreement with Endless One Global, Inc. (“E1G”) whereby, EIG will provide data processing, transaction processing and related services for the prepaid debit accounts created for the customers of the Company, for a period of five years, with a one-time upfront fee of $250,000 for each of the three (3) countries of USA, Mexico and India, for a total fee of $750,000 to initiate the process to establish three (3) Business Identification Numbers (“BINs”). Thereafter, the term will automatically be renewed for one (1) year period unless terminated by either party upon providing a written notice. The Company will pay E1G the processing fees as forth in the Agreement, any special fees, new products and technologies introduced by E1G. The Company has paid to E1G $195,000 and $0 and recorded it as prepaid expense as of June 30, 2018 and December 31, 2017, respectively.

Legal Costs and Contingencies

In the normal course of business, the Company incurs costs to hire and retain external legal counsel to advise it on regulatory, litigation and other matters. The Company expenses these costs as the related services are received.

If a loss is considered probable and the amount can be reasonable estimated, the Company recognizes an expense for the estimated loss. If the Company has the potential to recover a portion of the estimated loss from a third party, the Company makes a separate assessment of recoverability and reduces the estimated loss if recovery is also deemed probable. The Company was not aware of any loss contingencies as of June 30, 2018 and December 31, 2017, respectively.

NOTE 6 – STOCKHOLDERS’ EQUITY (DEFICIT)

The Company’s capitalization at June 30, 2018 was 100,000,000 authorized common shares with a par value of $0.0001 per share, and 20,000,000 authorized preferred shares with a par value of $0.0001 per share.

Common Stock

On July 22, 2016, the Company issued 20,000,000 shares of its common stock, at par value of $0.0001 per share, to two directors and officers for the services performed at $2,000.

On March 14, 2017, the Company effectuated a change in control and redeemed 20,000,000 shares of its then outstanding 20,000,000 shares of common stock upon the resignation of two officers and directors. The Company recorded the cancellation of 20,000,000 shares of common stock at its fair value of $2,000 as additional paid in capital on March 14, 2017. On March 14, 2017, the Company issued 8,000,000 shares of its common stock at par value of $800 to Mr. James Koh for services rendered, accepted resignation of two officers and directors, and pursuant to Section 4(2) of the Securities Act of 1933, appointed Mr. James Koh, to be the Company’s Chief Executive Officer, the sole shareholder, officer and director.

On November 1, 2017, the former sole shareholder, officer and director, Mr. James Koh sold all his 8,000,000 shares of common stock to Mr. Pierre Sawaya, who became the sole shareholder, officer and director of the Company, and was appointed as the President and Chief Executive Officer of Monetiva Inc.

On November 1, 2017, the Company entered into an employment agreement with Mr. Pierre Sawaya and awarded him 12,000,000 shares of the Company’s common stock valued at $1,200 as a sign-on bonus. The common shares were issued to the Officer in January 2019.

From February 2, 2018 through April 30, 2018, the Company engaged in a private exempt offering in reliance on Regulation D, Rule 506, whereby a total of 1,616,000 shares were agreed to be sold to private investors at $0.50 per share and to the business promoters of E1G at $0.25 per share. A total of 486,000 common shares were agreed to be issued to private investors at $0.50 per share, resulting in a capital raise by the Company of $243,000. In addition, a total of 1,130,000 common shares were agreed to be sold to the business promoters of E1G at $0.25 per share, resulting in a capital raise by the Company of $282,500. Through the offering the Company received a total amount of $525,500 as of June 30, 2018, which was immediately made available to the Company to cover operating expenses, salaries and other development costs. These common shares were not issued until January 14, 2019.

As a result of all common stock issuances, the total issued and outstanding shares of common stock at June 30, 2018 and December 31, 2017 were 8,000,000 shares, respectively.

Preferred stock

No preferred stock was issued and outstanding as of June 30, 2018 and December 31, 2017, respectively.

NOTE 7 – SUBSEQUENT EVENTS

Management has evaluated subsequent events through September 26, 2019, the date the financial statements were available to be issued, noting the following items would impact the accounting for events or transactions in the current period or require additional disclosure.

On September 24, 2018, an investor executed a stock subscription agreement to purchase up to 1,000,000 shares of common stock of the Company at $0.50 per share. The subscriber has paid $300,000 to the Company as of August 9, 2019, and agreed to pay the remaining balance prior to August 31, 2019. The Company has issued the 1,000,000 shares of common stock on January 14, 2019 to the investor and recorded $200,000 as subscription receivable.

On November 8, 2018, an investor executed a stock subscription agreement to purchase 30,000 shares of common stock of the Company at $0.50 per share. The subscriber paid $15,000 to the Company on November 8, 2018 and the Company has not issued the 30,000 shares to the subscriber as of September 26, 2019.

On November 16, 2018, an investor executed a stock subscription agreement to purchase 20,000 shares of common stock of the Company at $0.50 per share. The subscriber paid $10,000 to the Company on November 16, 2018 and the Company has not issued the 20,000 shares to the subscriber as of September 26, 2019.

On January 14, 2019, the Company issued 20,000,000 shares of its common stock to its Officer consisting of 12,000,000 shares of common stock as a sign-on bonus, and 8,000,000 shares acquired from the former Chief Executive Officer.

On February 26, 2019, an investor executed a stock subscription agreement to purchase 5,264 shares of common stock of the Company at $1.90 per share. The subscriber has paid $10,001.60 to the Company on February 27, 2019 and the Company has not issued the 5,264 shares of common stock to the investor as of September 26, 2019.

On March 3, 2019, an investor executed a stock subscription agreement to purchase 50,000 shares of common stock of the Company at $2.00 per share. The subscriber has paid $100,000 to the Company on March 27, 2019 for the stock subscriptions and the Company has not issued the 50,000 shares of common stock to the investor as of September 26, 2019.

On April 3, 2019, an investor executed a stock subscription agreement to purchase 8,000 shares of common stock of the Company at $2.00 per share. The subscriber has paid $16,000 to the Company on April 3, 2019 and the Company has not issued the 8,000 shares of common stock to the investor as of September 26, 2019.

On April 9, 2019, the Company received $4,000 from an investor for purchase of its common stock. The investor has not executed a subscription agreement and no shares were issued as of September 26, 2019.

On May 16, 2019, an investor executed a stock subscription agreement to purchase 200,000 shares of common stock of the Company at $0.50 per share. The same investor had previously purchased 100,000 shares of common stock on February 26, 2018 at $0.50 per share. The Company received $100,000 from the investor on May 16, 2019. The Company has not issued the 200,000 shares of common stock as of September 26, 2019.

On June 17, 2019, an investor executed a stock subscription agreement to purchase 240,000 shares of common stock of the Company at $0.25 per share. The subscriber has paid $60,000 to the Company on June 17, 2019 and the Company has not issued the 240,000 shares of common stock to the investor as of September 26, 2019.

Between March 14, 2019 and August 9, 2019, a shareholder has advanced $788,750 to the Company to purchase additional common shares of the Company. The Company and the shareholder are negotiating the terms of purchase of common stock and have not executed a stock subscriptions agreement as of September 26, 2019.

On July 10, 2019, the Company received $10,000 from an investor for purchase of common stock. The investor has not executed a subscription agreement and no shares were issued as of September 26, 2019.

On July 16, 2019, the Company received $200,000 from an investor for purchase of 200,000 shares of common stock at $1.00 per share. The investor has executed a subscription agreement and the Company issued 200,000 shares on July 24, 2019.

On August 22, 2019, the Company became aware of an Securities and Exchange Commission Order Instituting Administrative Proceedings and Notice of Hearing alleging that the Company is delinquent in certain of its periodic filings with the Commission and indicating that administrative proceedings are intended to be held (i) to determine all delinquent filings and any defenses of the Company for any such delinquent filings, and (ii) to make a decision as whether it may be appropriate to take any action to suspend or revoke the Company’s registration of its securities. The date of the Commission Order is August 14, 2019. The Company is actively working to resolve any delinquent filings as quickly as possible and intends to demonstrate to the Commission its diligence in that regard.

As of September 26, 2019, the Company has paid to E1G $726,780 as the processing fees to initiate and establish BINs for the Company.

As a result of the offerings, a total of 22,866,000 shares of common stock of the Company have been issued and outstanding as of September 27, 2019.

Item 2. Management’s Discussion and Analysis or Plan of Operation

This Quarterly Report Form 10-Q contains forward-looking statements. Our actual results could differ materially from those set forth as a result of general economic conditions and changes in the assumptions used in making such forward-looking statements. The following discussion and analysis of our financial condition and results of operations should be read together with the unaudited condensed financial statements and accompanying notes and the other financial information appearing elsewhere in this report. The analysis set forth below is provided pursuant to applicable Securities and Exchange Commission regulations and is not intended to serve as a basis for projections of future events.

We are a development stage enterprise and are incorporated in the State of Delaware in July 2016. As of the date of inception to the date of this quarterly report, we did not generate any revenue and incurred expenses and operating losses, as part of our development stage activities. We have experienced a net loss of $242,216 for the six months ended June 30, 2018, net cash used in operating activities of $456,057, and an accumulated deficit of $296,128 at June 30, 2018.

We anticipate that we will need substantial working capital over the next 12 months to continue as a going concern and to expand our operations to distribute, sell and market products and solutions. Our independent auditors have expressed substantial doubt as to the ability of the Company to continue as a going concern. Unless we are able to generate sufficient cash flows from operations and/or obtain additional financing, there is a substantial doubt as to the ability of the Company to continue as a going concern. We intend to make an equity offering of our common stock for the acquisition and operation expenses. If we cannot raise the required cash, we will issue additional shares of our common stock in lieu of cash.

Our Current Business

Monetiva’s primary objective is to offer prepaid card and money remittance services to under-banked, underserved markets and foreign workers. We are supported by an experienced management team with extensive background and qualifications in our core business, including prepaid card issuance, program management, third party processing technology and banking regulatory and compliance. We are a startup Company in the developmental phase of the business cycle. We are building out a card and technology platform and remittance network and are currently engaged with business partners in the United States and globally.

We intend to utilize Endless One Global (“E1G”) prepaid card services to provide prepaid cards to under-banked consumers, primarily targeting foreign workers. The primary services to be offered are centered on the issuance of MasterCard credit and debit cards to qualified consumers in the US. Business rollout is intended to be implemented in phases. Phase I of development includes targeting and establishing relationships with partner companies in both U.S., Mexico and India. Business relationships shall be secured to implement domestically issued prepaid cards and financial services in each of those markets. Our aim by this development phase is to enable a low cost, efficient solution to both the US accountholders and their respective family and friends in partner countries. Our accounts are designed to enable foreign workers to have their payroll deposited directly onto the Mastercard issued by us. Card recipients will then be able to pay bills, send money abroad and utilize the Mastercard to access Automated Teller Machines (“ATMs”) and make purchases at retail merchants. Services will also be provided to enable card loading of funds through retail merchant locations. We also intend to implement value added programs such as loyalty discounts that shall be provided as part of the card benefits.

After successful rollout of Phase I development programs, we intend to expand to additional countries and territories as part of its Phase II development plan. We shall provide the same services to these new territories. Phase II territories are likely to include Canada, European nations, Philippines, Indonesia, South Korea, Middle Eastern nations and China.

Our Strategy

To successfully grow and expand our business, we intend to deploy the following primary marketing strategies:

●

Target those foreign market Immigrants in the US by metro area;

●

Establish Ambassadors in high density metro areas – Sales & Marketing Representatives;

●

Setup Internet Infrastructure to enable family\friend Issuance in each market, utilizing digital marketing to drive traffic to the Company’s domain;

●

Utilize retail distribution partners;

●

Utilize accountholder incentives to create a viral referral base to bring in new accountholders; and

●

Add new products and services to existing accountholders to generate increased usage per accountholder;

Once we have deployed these primary strategies in the US, cross marketing to the other countries will be implemented using the same strategy (e.g. United States of America to Philippines and Canada to Mexico).

Metro Area Marketing

We have identified several primary metropolitan areas and sub-market areas to focus its US-based marketing into the foreign worker concentrated markets. These areas include Los Angeles, San Francisco, San Diego, Houston, Dallas, New York, Chicago, Washington DC, Atlanta, Miami and the surrounding area sub-markets. We intend to secure representatives in each of these markets to setup distribution points with foreign market centric services including organizations related to religion, healthcare, community, and employment. The representatives will include direct employees and bank approved independent agents. Deeper expansion into other metropolitan markets will be evaluated and prioritized once we have met our initial primary business objectives.

Internet Access and Marketing

Our website will be developed to easily enable accountholder registration in the US and provide access to registration in each of the home markets through our issuing partners. This will allow effective communications to the consumers in each market while utilizing the Know Your Customer (“KYC”) verification and compliance process that has already been established through the existing systems.

Social Media and Digital Marketing will be used to target consumers. We also intend to affiliate with websites and brands that focus on the same consumer markets.

Retail Distribution Partners

We are in discussions with several retail chains to offer the Monetiva Card through their retail distribution network. The cards will be available for immediate activation and loading from the local stores. Once KYC is provided and verified the cards will be converted from non-reloadable to reloadable and available for personalization if requested. Inventory control will be established with each retail partner.

Accountholder Incentives

The foreign worker communities generally provide a cohesive network that enables incentive programs for one account holder to refer friends or family. We intend to provide the referring account holder with valued incentives to bring others into the Monetiva program.

Value-added Services

We have developed a suite of value-added services to increase the value of the service offering to accountholders including retail discounts, healthcare discounts, usage points, long distance telephone, bill-paying, etc. These services are intended to drive more transaction activity and new accountholder traffic.

Global Remittance Market

We are focused on select remittance corridors to enable Monetiva to specialize in the scope, value and quality of services. According to the economists at the World Bank (https://www.pewresearch.org/global/interactives/remittance-flows-by-country/) the volume of remittances from the US to the target markets in 2017 was:

Receiving Country	USD in billions
Mexico	$	30.0
India	$	11.7
China	$	16.1
Philippines	$	11.1

Results of Operations

Our results of operations for the three months and six months ended June 30, 2018 and 2017 included the operations of the Company. We reported a net loss of $162,967 and $242,216 applicable to the Company’s common stockholders for the three months and six months ended June 30, 2018 as compared to a net loss of $2,000 and $5,800 for the same comparable periods ended June 30, 2017. The increase in loss in 2018 resulted primarily due to recording of officer’s compensation expense, travel and entertainment expense, rent, professional and consulting expenses, and other general and administrative expenses.

Liquidity and Capital Resources

Cash and cash equivalents were $69,643 at June 30, 2018 as compared to $0 at December 31, 2017. As shown in the accompanying financial statements, we recorded a net loss of $242,216 for the six months ended June 30, 2018. Our accumulated deficit at June 30, 2018 was $296,128 and net cash used in operating activities for the six months ended June 30, 2018 was $456,057. These factors and our ability to raise additional capital to accomplish our objectives, raises doubt about our ability to continue as a going concern. We expect our expenses will continue to increase during the foreseeable future as a result of increased operational expenses and the development of our current business operations. We anticipate generating only minimal revenues over the next twelve months. Consequently, we are dependent on the proceeds from future debt or equity investments to sustain our operations and implement our business plan. If we are unable to raise sufficient capital, we will be required to delay or forego some portion of our business plan, which would have a material adverse effect on our anticipated results from operations and financial condition. There is no assurance that we will be able to obtain necessary amounts of capital or that our estimates of our capital requirements will prove to be accurate.

From February 2, 2018 through September 18, 2019, we were engaged in private exempt offerings in reliance on Regulation D, Rule 506, whereby we raised a total amount of $1,999,252, which was immediately made available to us to cover our operating expenses, salaries and other development costs. We presently do not have any significant credit available, bank financing or other external sources of liquidity. Due to our operating losses, our operations have not been a source of liquidity. We will need to acquire other profitable entities or obtain additional capital in order to expand operations and become profitable. In order to obtain capital, we may need to sell additional shares of our common stock or borrow funds from private lenders. There can be no assurance that we will be successful in obtaining additional funding.

To the extent that we raise additional capital through the sale of equity or convertible debt securities, the issuance of such securities may result in dilution to existing stockholders. If additional funds are raised through the issuance of debt securities, these securities may have rights, preferences and privileges senior to holders of common stock and the terms of such debt could impose restrictions on our operations. Regardless of whether our cash assets prove to be inadequate to meet our operational needs, we may seek to compensate providers of services by issuance of stock in lieu of cash, which may also result in dilution to existing shareholders. Even if we are able to raise the funds required, it is possible that we could incur unexpected costs and expenses, fail to collect significant amounts owed to us, or experience unexpected cash requirements that would force us to seek alternative financing.

No assurance can be given that sources of financing will be available to us and/or that demand for our equity/debt instruments will be sufficient to meet our capital needs, or that financing will be available on terms favorable to us. If funding is insufficient at any time in the future, we may not be able to take advantage of business opportunities or respond to competitive pressures or may be required to reduce the scope of our planned service development and marketing efforts, any of which could have a negative impact on our business and operating results. In addition, insufficient funding may have a material adverse effect on our financial condition, which could require us to:

	●	Curtail our operations significantly, or

	●	Seek arrangements with strategic partners or other parties that may require us to relinquish significant rights to technology platform and correlated services, or

	●	Explore other strategic alternatives including a merger or sale of our Company.

Operating Activities

Net cash used in operating activities for the six months ended June 30, 2018 was $455,857 which resulted primarily from our net loss of $242,216, and net change in operating assets and liabilities of $213,840, attributable to increase in prepaid assets of $195,000 due to prepaid deposits towards BIN and increase in rent deposits of $25,136, increase in accrued liabilities of $17,590, decrease in accrued compensation of officer of $21,800, and increase in deferred rent of $10,505. Net cash used in operating activities for the six months ended June 30, 2017 was $0, which resulted primarily from our net loss of $5,800, common stock issued for services of $800, expense paid by stockholder and contributed as capital of $2,000 and increase in accrued liabilities of $3,000.

Investing Activities

Net cash provided by investing activities for the six months ended June 30, 2018 and 2017 was $0.

Financing Activities

Net cash provided by financing activities for the six months ended June 30, 2018 was $525,700 primarily due to $525,500 of cash proceeds received from stock subscriptions and cash proceeds of $200 received from the officer. Net cash provided by financing activities for the six months ended June 30, 2017 was $0.

As a result of the above activities, we experienced a net increase in cash of $69,643 for the six months ended June 30, 2018. Our ability to continue as a going concern is still dependent on our success in obtaining additional financing from investors or from sale of our common shares.

Critical Accounting Policies and Significant Judgments and Estimates

Our management’s discussion and analysis of our financial condition and results of operations is based on our financial statements which we have prepared in accordance with U.S. generally accepted accounting principles. In preparing our financial statements, we are required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. We have identified the following accounting policies that we believe require application of management’s most subjective judgments, often requiring the need to make estimates about the effect of matters that are inherently uncertain and may change in subsequent periods. Our actual results could differ from these estimates and such differences could be material.

While our significant accounting policies are described in more details in Note 2 of our annual financial statements included in our 2017 Annual Report filed with the SEC on June 21, 2019, we believe the following accounting policies to be critical to the judgments and estimates used in the preparation of our financial statements.

JOBS Act Accounting Election

We are an “emerging growth company,” as defined in the JOBS Act. Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. We have irrevocably elected not to avail ourselves of this exemption from new or revised accounting standards, and, therefore, will be subject to the same new or revised accounting standards as other public companies that are not emerging growth companies.

Fair value of Financial Instruments and Fair Value Measurements

ASC 820, “Fair Value Measurements and Disclosures”, requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

Development Stage and Capital Resources

The Company has devoted substantially all of its efforts to business planning since its inception on July 22, 2016. Accordingly, the Company is considered to be in the development stage. The Company has not generated revenues from its operations, and it will not commence generating revenues until sometime during the second quarter of 2020.

Off-Balance Sheet Arrangements

We have not engaged in any off-balance sheet arrangements as defined in Item 303(c) of the SEC’s Regulation S-B. We did not have any relationships with unconsolidated organizations or financial partnerships, such as structured finance or special-purpose entities that would have been established for the purpose of facilitating off-balance sheet arrangements or other contractually narrow or limited purposes.

Recent Accounting Pronouncements

We have implemented all new accounting pronouncements that are in effect and that may impact our financial statements and do not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on our financial position or results of operations.

Item 3. Quantitative and Qualitative Disclosures About Market Risks.

Not Applicable.

Item 4. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

As of the end of the period covered by this report, we carried out an evaluation, under the supervision and with the participation of our management, including our Principal Executive Officer and Principal Financial Officer, of the effectiveness of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934. Based on that evaluation, our Principal Executive Officer and Principal Financial Officer have concluded that our disclosure controls and procedures as of June 30, 2018 were effective to ensure that information required to be disclosed by us 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 Securities and Exchange Commission’s rules and forms.

Changes in Internal Control over Financial Reporting

There have been no changes in our internal control over financial reporting identified in connection with the evaluation required by paragraph (d) of Rule 13a-15 or Rule 15d-15 under the Exchange Act that occurred during the quarter ended June 30, 2018 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART II.

Item 1. Legal Proceedings.

We are not a party to any legal proceedings.

Item 1A. Risk Factors.

Not Applicable

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

None.

Item 3. Defaults Upon Senior Securities.

None

Item 4. Mine Safety Disclosures.

None

Item 5. Other Information.

Item 6. Exhibits.

(a) Exhibits.

Exhibit		Item
31.1		Certification of Chief Executive Officer pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002

31.2		Certification of Chief Financial Officer pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002

32.1		Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

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

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.

	Monetiva Inc.

Date: September 27, 2019	/s/ Pierre Sawaya
	Pierre Sawaya, President (Principal Executive Officer and Principal Accounting Officer)

EXHIBIT INDEX

Exhibit		Item
31.1		Certification of Chief Executive Officer pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002

31.2		Certification of Chief Financial Officer pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002

32.1		Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

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