(Mark One)
|
||
þ
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
o
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _____ to _____
|
LMK GLOBAL RESOURCES, INC.
|
(Exact name of registrant as specified in its charter)
|
Delaware
|
94-2857548
|
|
(State or other jurisdiction of incorporation)
|
(IRS Employer Identification No.)
|
|
Title of each class
|
Name of each exchange on which registered
|
Securities registered pursuant to Section 12(g) of the Act:
|
Common Stock, par value $0.01 per share
|
(Title of Class)
|
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
|
Yes [ ] No [X]
|
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.
|
Yes [ ] No [X]
|
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 (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).
|
Yes [ ] No [ ]
|
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-Q or any amendment to this Form 10-Q.
|
[ ]
|
Large accelerated filer [ ]
|
Accelerated filer [ ]
|
Non-accelerated filer [ ] (Do not check if a smaller reporting company)
|
Smaller reporting company [X]
|
Indicate by check mark whether the registrant is a shell company (as defined in rule 12b-2 of the Exchange Act).
|
Yes [ ] No [X]
|
State the aggregate market value of the registrant’s voting and non-voting common equity held by non-affiliates as of the last business day of the registrant’s most recently completed second fiscal quarter (December 31, 2011) in thousands.
|
$ 77,000
|
Indicate the number of shares outstanding of each of the registrant’s classes of common stock, as of the latest practicable date (November 19, 2012).
|
78,312,300 Shares
|
Exhibit No.
|
Description
|
|
31.1**
|
Certification of the Company’s Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, with respect to the registrant’s Quarterly Report on Form 10-Q for the year ended September 30, 2012.
|
|
31.2**
|
Certification of the Company’s Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, with respect to the registrant’s Quarterly Report on Form 10-Q for the year ended September 30, 2012.
|
|
32.1**
|
Certification of the Company’s Principal Executive Officer 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.
|
|
101.DEF*
|
XBRL Taxonomy Extension Definition Linkbase Document*
|
|
101.INS*
|
XBRL Instance Document
|
|
101.SCH*
|
XBRL Taxonomy Extension Schema Document
|
|
101.CAL*
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
|
101.LAB*
|
XBRL Taxonomy Extension Label Linkbase Document
|
|
101.PRE*
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
|
101.DEF*
|
XBRL Taxonomy Extension Definition Linkbase Document
|
Date: July10, 2013
|
By:
|
/s/ Frank Dreschler
|
|
Frank Dreschler
|
|||
President, Chief Executive Officer
and Sole Director
|
STATEMENTS OF EXPENSES - Unaudited (USD $)
|
3 Months Ended | 44 Months Ended | |
---|---|---|---|
Sep. 30, 2012
|
Sep. 30, 2011
|
Sep. 30, 2012
|
|
Income Statement [Abstract] | |||
REVENUES | |||
General and administrative expenses | 14,893 | 4,902 | 44,956 |
Interest expense | 940 | 940 | 11,384 |
Total Expenses | (15,833) | (5,842) | (56,340) |
Net loss | $ (15,833) | $ (5,842) | $ (56,340) |
Net loss per share, basic and fully diluted | $ 0.00 | $ 0.00 | |
Weighted average number of shares outstanding | 78,312,300 | 78,312,300 |
2 Going Concern (Details Narrative) (USD $)
|
Sep. 30, 2012
|
Jun. 30, 2012
|
---|---|---|
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Working capital deficit | $ (58,996) | $ (57,759) |
1 Basis of Presentation
|
3 Months Ended |
---|---|
Sep. 30, 2012
|
|
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Note 1 Basis of Presentation
The accompanying unaudited interim financial statements of LMK Global Resources, Inc., f/k/a Verilink Corporation, 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 Verilink's Annual Report filed with the SEC on Form 10-K. 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 periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which substantially duplicate the disclosure contained in the audited financial statements for the year ended June 30, 2012 as reported in the Form 10-K have been omitted. |
3 Related Party
|
3 Months Ended |
---|---|
Sep. 30, 2012
|
|
Related Party Transactions [Abstract] | |
Related Party | Note 3 Advances from Related Party
As of June 30, 2012, the Company currently has related party advances of $47,015 due to a major shareholder, for operating expenses paid on the Companys behalf. The related party advances bear an interest rate of 8%, is unsecured and is payable upon demand. We have accrued $10,444 in interest to IACE since emerging from bankruptcy. |
3 Related Party (Details Narrative) (USD $)
|
3 Months Ended | |
---|---|---|
Sep. 30, 2012
|
Jun. 30, 2012
|
|
Related Party Transactions [Abstract] | ||
Related party advances | $ 47,015 | |
Accured interest | $ 11,384 | |
Interest | 8.00% |
4 Equity
|
3 Months Ended |
---|---|
Sep. 30, 2012
|
|
Accounting Policies [Abstract] | |
4 Equity |
Note 4 Equity
On August 20, 2012, the Company effected a 3:1 stock dividend. |
"4TD5$]1K(QRVNVQ;18M7<>Z<2DNSYM)9,QRJ09>D3HY`4!,J:*2
M$",61$*R/1+<."[Q!ZS56U-?'K^4I,P2H19BD0H%$4!DJ,,EH8,01:ELBWU0
MW#/>DBWU0]8^Q:NX\H91(FZXWU&"+O4XM;*`2*,$*.MEDG@F4TI6W]OCT0?J
M1EZ(_?@=D!.H(F>6.1*81
BALANCE SHEETS - Unaudited (Parenthetical) (USD $)
|
Sep. 30, 2012
|
Jun. 30, 2012
|
---|---|---|
Balance Sheets - Unaudited | ||
Preferred stock, par value | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 60,000,000 | 60,000,000 |
Common stock, shares issued | 78,312,300 | 78,312,300 |
Common stock, shares outstanding | 78,312,300 | 78,312,300 |
STATEMENTS OF CASH FLOWS - Unaudited (USD $)
|
3 Months Ended | 44 Months Ended | |
---|---|---|---|
Sep. 30, 2012
|
Sep. 30, 2011
|
Sep. 30, 2012
|
|
Statement of Cash Flows [Abstract] | |||
Net loss | $ (15,833) | $ (5,842) | $ (56,340) |
Change in assets and liabilities: | |||
Change in accounts payable and accrued liabilities | 1,237 | 1,340 | 11,015 |
Net cash used in operating activities | (14,596) | (4,502) | (45,325) |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Advances from shareholder | |||
Cash at beginning of period | 14,596 | 4,502 | 45,325 |
Cash at end of period | 45,325 | 4,502 | 45,325 |
SUPPLEMENTAL DISCLOSURES | |||
Cash paid for interest | |||
Cash paid for income taxes |
BALANCE SHEETS - Unaudited (USD $)
|
Sep. 30, 2012
|
Jun. 30, 2012
|
---|---|---|
ASSETS | ||
TOTAL ASSETS | $ 0 | $ 0 |
CURRENT LIABILITIES | ||
Accounts payable | 597 | 300 |
Advances from shareholder | 47,015 | 47,015 |
Accrued interest to shareholders | 11,384 | 10,444 |
TOTAL LIABILITIES | 58,996 | 57,759 |
STOCKHOLDERS' DEFICIT | ||
Preferred stock, par value $0.01, authorized: 1,000,000 shares, no shares issued or outstanding | 0 | 0 |
Common stock: $0.01 par value; 60,000,000 shares authorized; 26,104,100 shares issued and outstanding at June 30, 2011 and June 25, 2010 | 783,123 | 783,123 |
Additional paid-in capital | 90,301,864 | 90,287,268 |
Accumulated other comprehensive loss | (63,201) | (63,201) |
Accumulated deficit from prior operations | (91,024,442) | (91,024,442) |
Deficit accumulated during the exploration stage | (56,340) | (40,507) |
TOTAL STOCKHOLDERS' DEFICIT | (58,996) | (57,759) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 0 | $ 0 |
2 Going Concern
|
3 Months Ended |
---|---|
Sep. 30, 2012
|
|
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
2 Going Concern | Note 2 Going Concern
As shown in the accompanying financial statements, the Company has a working capital deficit of $58,996 as of September 30, 2012 and is not currently generating revenue from operations. These factors raise substantial doubt regarding the Company's ability to continue as a going concern. Management has established plans to begin generating revenues and decrease debt. These plans, if successful, will mitigate the factors, which raise substantial doubt about the Companys ability to continue as a going concern. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event the Company cannot continue in existence. |
Document and Entity Information (USD $)
|
3 Months Ended | |
---|---|---|
Sep. 30, 2012
|
Nov. 19, 2012
|
|
Document and Entity Information: | ||
Entity Registrant Name | LMK Global Resources, Inc. | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2012 | |
Amendment Flag | false | |
Entity Central Index Key | 0000774937 | |
Current Fiscal Year End Date | --06-30 | |
Entity Common Stock, Shares Outstanding | 78,312,300 | |
Entity Public Float | $ 0 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | No | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Document Fiscal Year Focus | 2013 | |
Document Fiscal Period Focus | Q1 |