-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, QG77Az08UfxBw+NNCTeSCHnsn7F5i97KmdVxUe8f/yCSnF9GPlGX+1WT2FbdHU5U zxEURz+7AlBlfirFCd105Q== 0001463189-09-000028.txt : 20090819 0001463189-09-000028.hdr.sgml : 20090819 20090819135323 ACCESSION NUMBER: 0001463189-09-000028 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20090630 FILED AS OF DATE: 20090819 DATE AS OF CHANGE: 20090819 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ENSURGE INC CENTRAL INDEX KEY: 0000789879 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 870431533 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 033-03275-D FILM NUMBER: 091023611 BUSINESS ADDRESS: STREET 1: 2089 FORT UNION BLVD STREET 2: --- CITY: SALT LAKE CITY STATE: UT ZIP: 84121 BUSINESS PHONE: 801-673-2953 MAIL ADDRESS: STREET 1: 2089 FORT UNION BLVD STREET 2: --- CITY: SALT LAKE CITY STATE: UT ZIP: 84121 FORMER COMPANY: FORMER CONFORMED NAME: ISHOPPER COM INC DATE OF NAME CHANGE: 20000301 FORMER COMPANY: FORMER CONFORMED NAME: SUNWALKER DEVELOPMENT INC DATE OF NAME CHANGE: 19920703 10-Q 1 frm10q-30june2009_ei.htm FORM 10Q JUNE 30, 2009 frm10q-30june2009_ei.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 10-Q


(Mark One)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the Quarterly Period Ended June 30, 2009


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


Commission File Number: 033-03275-D


 EnSurge, Inc.
(Exact name of registrant as specified in its charter)


                               Nevada                                                                                                              87-0431533                                           
              (State or other jurisdiction                                                                                        (IRS Employer Identification No.)
         of incorporation or organization)


4766 S. Holladay Blvd
Salt Lake City, UT  84121
(Address of principal executive offices)

(801) 273-9300
(Issuer’s telephone number)

(Former name, former address and former fiscal year, if changed since last report)
Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934, during the preceding 12 months (or such shorter period that the Registrant was required to file such report(s)), and (2) has been subject to such filing requirements for the past 90 days.
 
 Yes X                                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 definition of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.  (Check one):

Large accelerated filer [  ]      Accelerated filer [  ]     Non-accelerated filer [  ]         Smaller reporting company [X]

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ X] No [  ]

There were 511,256 shares of common stock, $0.001 par value, issued and outstanding as of August 19, 2009.



 
1
 


EnSurge, Inc.
FORM 10-Q


QUARTER ENDED JUNE 30, 2009

TABLE OF CONTENTS


              Page

PART I-FINANCIAL INFORMATION

Item 1. Financial Statements

Condensed Statements of Assets, Liabilities and Stockholders' Deficit -
           Liquidation Basis (Unaudited) as of June 30, 2009 and December 31, 2008                                 3

Condensed Statements of Revenue and Expenses - Liquidation Basis
           (Unaudited) for the Three and Six Months Ended June 30, 2009 and 2008                                 4

Condensed Statements of Cash Flows - Liquidation Basis (Unaudited)
      for the  Six Months Ended June 30, 2009 and 2008                                                                       5

Notes to Condensed Financial Statements (Unaudited)                                                                    6

Item 2. Management's Discussion and Analysis of Financial Condition and
Results of Operations                                                                                                                              7

Item 3. Quantitative and Qualitative Disclosures About Market Risks                                                   7

Item 4T. Controls and Procedures                                                                                                                  7

PART II - OTHER INFORMATION

Item 1. Legal Proceedings                                                                                                                               8

Item 1A. Risk Factors                                                                                                                                      8

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds                                                     8

Item 3. Defaults Upon Senior Securities                                                                                                       8

Item 4. Submission of Matters to a Vote of Security Holders                                                                   8

Item 5. Other Information                                                                                                                                8

Item 6. Exhibits and Reports on Form 8-K                                                                                                    8

Signatures                                                                                                                                                          8

 
2
 

PART I - -                                                                                                                 FINANCIAL INFORMATION

Item 1.                 Financial Statements
Ensurge, Inc.
CONDENSED STATEMENTS OF ASSETS, LIABILITIES AND
STOCKHOLDERS’ DEFICIT – LIQUIDATION BASIS


       
June 30,
  
December 31,
ASSETS
  
2009
  
2008
CURRENT ASSETS
            
   
Cash
  
$
0
  
$
0
                 
   
TOTAL CURRENT ASSETS
    
0
    
0
                 
   
TOTAL ASSETS
  
$
0
  
$
0
                 
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
            
CURRENT LIABILITIES
            
   
Trade accounts payable
  
$
27,494
  
$
22,192
   
Accrued liabilities
    
842,501
    
791,629
   
Notes payable
    
1,132,099
    
1,126,599
   
TOTAL CURRENT LIABILITIES
    
2,002,094
    
1,940,420
                 
STOCKHOLDERS' EQUITY (DEFICIT)
            
   
Common stock - $0.001 par value; 100,000,000 shares authorized; 511,256 and 111,256 shares issued and outstanding
511
    
111
   
Additional paid-in-capital
    
14,358,609
    
14,259,009
   
Accumulated deficit
    
(16,361,214)
    
(16,199,540)
   
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)
    
(2,002,094)
    
(1,940,420)
                 
   
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
$
0
  
$
0
                 
The accompanying notes are an integral part of these condensed financial statements.
      

 
3
 
EnSurge, Inc.
CONDENSED STATEMENTS OF REVENUES AND EXPENSES
 
 
LIQUIDATION BASIS
(UNAUDITED)
 
 

     
Form the Three Months
  
For the Six Months
     
Ended June 30,
  
Ended June 30,
     
2009
  
2008
  
2009
  
2008
Sales
  
$
                 -
  
$
                 -
  
$
                 -
  
$
                 -
Cost of Sales
    
                 -
    
                 -
    
                 -
    
                 -
                           
Gross Profit
    
                 -
    
                 -
    
                 -
    
                 -
                           
Expenses
                        
 
General and administrative
    
     104,198
    
       12,750
    
     110,698
    
       18,001
 
Interest expense
    
       25,604
    
       25,103
    
       50,976
    
       50,109
                           
 
Total Expenses
    
    (129,802)
    
      (37,853)
    
    (161,674)
    
      (68,110)
                           
Operating Loss
    
    (129,802)
    
      (37,853)
    
    (161,674)
    
      (68,110)
                           
Net Loss
  
$
    (129,802)
  
$
      (37,853)
  
$
    (161,674)
  
$
      (68,110)
                           
Basic and Diluted Loss per Share
  
$
          (0.81)
  
$
          (0.34)
  
$
          (1.19)
  
$
          (0.61)
                           
Weighted Average Number of Common Shares
                        
 
Used in Per Share Calculation
    
     159,608
    
       11,256
    
     135,565
    
       11,256
                           
The accompanying notes are an integral part of these condensed financial statements.
          

 
4
 
Ensurge, Inc.
CONDENSED STATEMENTS OF CASH FLOWS
 
 
LIQUIDATION BASIS
(UNAUDITED)
 

 
         
For the Six Months
         
Ended June 30,
         
2009
  
2008
  
Cash Flows From Operating Activities
            
 
Net gain or (loss)
  
$
      (161,674)
  
$
        (68,110)
 
Issuance of stock for services
    
       100,000
    
                  -
                   
 
Adjustments to reconcile net loss to net cash used in operating activities:
            
   
Change in conversion expense from notes payable
    
                 -
    
                  -
   
Changes in operating assets and liabilities:
            
     
Accounts payable
    
           5,302
    
          10,340
     
Accrued liabilities
    
         50,872
    
          50,110
Net Cash Used in Operating Activities
    
         (5,500)
    
          (7,660)
                   
Cash Flows From Financing Activities
            
 
Proceeds from notes payable
    
           5,500
    
           5,000
Net Cash Provided by Financing Activities
    
           5,500
    
           5,000
                   
Net (Decrease) Increase in Cash
    
                 -
    
          (2,660)
                   
Cash at Beginning of Period
    
                 -
    
           2,720
                   
Cash at End of Period
  
$
                 -
  
$
                60
                   
Non-Cash Investing and Financing Activities:
            
 
None
            
                   
The accompanying notes are an integral part of these condensed financial statements.
      

 
5
 

Ensurge, Inc.
Notes to Condensed Financial Statements
June 30, 2009
NOTE 1–ORGANIZATION AND BASIS OF PRESENTATION

Organization and Liquidation – On October 16, 2000, iShopper.com, Inc. changed its name to EnSurge, Inc. EnSurge, Inc. and its subsidiaries are referred to herein as the Company.  On January 1, 2002, the Company began liquidation of its assets; accordingly, the accompanying financial statements are presented on a liquidation basis of accounting.

Basis of Presentation – The accompanying unaudited condensed financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q.  Accordingly, these financial statements do not include all of the information and disclosures required by generally accepted accounting principles for complete financial statements.  These unaudited condensed financial statements should be read in conjunction with the Company’s annual financial statements and the notes thereto for the year ended December 31, 2008, included in the Company’s annual report on Form 10-K, especially the information included in Note 1 to those financial statements, “Summary of Significant Accounting Policies.”  In the opinion of the Company’s management, the accompanying unaudited condensed financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary to fairly present the Company’s financial position as of June 30, 2009, and its results of operations and cash flows for the six months ended June 30, 2009 and 2008.  The results of operations for the three and six months ended June 30, 2009, may not be indicative of the results that may be expected for the year ending December 31, 2009.

Principles of Consolidation – The accompanying financial statements include the accounts of EnSurge, Inc.  On September 28, 2006 the company sold all remaining subsidiaries.

Business Condition – The Company has suffered losses from operations and has a working capital deficiency of $2,002,094 at June 30, 2009. The Company has no means available nor does management have any plans to obtain financing to satisfy the Company’s current liabilities of $2,002,094 at June 30, 2009, or to satisfy any of the Company’s contingent liabilities.

Basic and Diluted Loss Per Share – Basic loss per common share is computed by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted loss per share is calculated to give effect to potentially issuable common shares which include stock options and stock warrants except during loss periods when those potentially issuable common shares would decrease loss per share.  At June 30, 2009, the Company had no potentially issuable common shares outstanding.

NOTE 2 – COMMITMENTS AND CONTINGENCIES

None

NOTE 3 – ISSUANCE OF STOCK

During the month of June 2009, the Company issued 400,000 shares of common stock at a value of $.25 to its President for a total value of $100,000 for services rendered.
 
 

 
 
6
 

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

When used in this discussion, the words “expect(s)”, “feel(s)”, “believe(s)”, “will”, “may”, “anticipate(s)” and similar expressions are intended to identify forward-looking statements.  Such statements are subject to certain risks and uncertainties, which could cause actual results to differ materially from those projected.  Readers are cautioned not to place undue reliance on these forward-looking statements, and are urged to carefully review and consider the various disclosures elsewhere in this Form 10-Q.

During the fiscal year 2000 and through today’s date the Company has discontinued operations of all subsidiaries.  The Company maintains the parent holding Company.  The following discussion of the results of operations and numbers presented represent operations from the parent company.

Results of Operations

Sales for the three months ended June 30, 2009 and 2008 were respectively, $0 and $0.  Sales for the six months ended June 30, 2009 and 2008 were respectively, $0 and $0.  The Company has no source of revenue.  It is looking for opportunities to create revenue, but at this time has no viable options.

General and administrative expenses for the three months ended June 30, 2009 and 2008 were, respectively, $104,198 and $12,750.  General and administrative expenses for the six months ended June 30, 2009 and 2008 were, respectively, $110,698 and $18,001.  These costs are made up of bank fees, office expenses, auditor fees and officer salary.

Interest expense for the three months ended June 30, 2009 and 2008 was, respectively, $25,604 and $25,103.  Interest expense for the six months ended June 30, 2009 and 2008 was, respectively, $50,976 and $50,109.  These costs are made up of interest expense on notes payable.

The Company has discontinued the following subsidiaries and their operations:  NowSeven, Inc., Outbound Enterprises, Inc., Totalinet.net, Inc., Atlantic Technologies International, Inc., Internet Software Solutions, Inc., Uniq Studio’s, Inc., and  iShopper Internet Solutions, Inc.

Liquidity and Capital Resources

The Company has financed its operations to date primarily through private placements of equity securities and current sales.  The Company has been unprofitable since inception (1998) and has incurred net losses in each quarter and year.

The Company is in the process of exploring and investigating business opportunities to merge with or acquire and has not had an active market for its common stock and needs to establish a capital structure that would be more likely to attract business opportunities.

Item 3. Qualitative and Quantitative Disclosures About Market Risk.

Not applicable.

Item 4T.  Controls and Procedures

As of June 30, 2009, an evaluation was carried out by management, of the effectiveness of disclosure controls and procedures. Based on that evaluation, management has concluded that disclosure controls and procedures are effective to ensure that information required to be disclosed by the Company in reports that the Company file or submit under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms. No changes in the Company's internal control over financial reporting that have materially affected, or are reasonably likely to materially affect, its internal control over financial reporting, including any corrective actions with regard to significant deficiencies and material weaknesses, occurred during the reporting period or subsequent to the date of the evaluation by its management thereof.
 
 
 
 
7
 

 
PART II - OTHER INFORMATION

Item 1.  Legal Proceedings

None

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.  Submission of Matters to a Vote of Security Holders

None

Item 5.  Other Information

There were no other items to be reported under Part II of this report.
 
Item 6.  Exhibits and Reports on Form 8-K.
 
(a) Exhibits.
 
                                31  
Certifications Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
 
 
32
Certification of Chief Executive Officer and Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. Section 1350).
 
(b) Reports on Form 8-K.
 
None.
 

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.

                                                                                                                 
EnSurge, Inc.
  

Date:               August 19, 2009                                                            /s/ Jeff A. Hanks                                
Jeff A. Hanks, Chief Executive Officer
Chief Financial Officer, Secretary, Director
   Jeff A. Hanks
  
(Principal Financial and Accounting Officer)
    



8
 EX-31 2 frm10q-ex31_ei.htm EXHIBIT 31 CERTIFICATION SECTION 302 frm10q-ex31_ei.htm

EXHIBIT 31
 
EnSurge, Inc
 
CERTIFICATION PURSUANT TO SECTION 302
 
OF THE SARBANES-OXLEY ACT OF 2002
 

 

 
I, Jeff A. Hanks, Chief Financial Officer of EnSurge, Inc., certify:
 
1.             I have reviewed this quarterly report on Form 10-Q of EnSurge, Inc.;
 
2.             Based on my knowledge, this quarterly 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 quarterly report;
 
3.             Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;
 
4.             I am responsible for establishing and maintaining disclosure controls and procedures (as defined in the Exchange Act Rules 13a-14 and 15d-14) for the registrant and I have:
 
 
a.
designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during this period in which the quarterly report is being prepared;
 
 
b.
evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this quarterly report (the "Evaluation Date"); and
 
 
c.
presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date;
 
5.             I have disclosed, based on my most recent evaluation, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent function):
 
 
a.
all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize and report financial data and have identified for the registrant's auditors any material weaknesses in internal controls; and
 
 
b.
any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and
 
6.             I have indicated in this quarterly report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.
 
By:  /s/ Jeff A. Hanks
  
 
Chief Financial Officer
  
 
August 19, 2009


EX-32 3 frm10q-ex32_ei.htm EXHIBIT 32 CERTIFICATION SECCTION 906 frm10q-ex32_ei.htm

EXHIBIT 32
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 EnSurge, Inc. (the "Company") on Form 10-Q for the period ending June 30, 2009, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), Jeff A. Hanks, Chief Executive Officer (Principal Executive Officer) and Chief Financial Officer (Principal Accounting and Financial Officer) of the Company, certifies, pursuant to 18 U.S.C. Section 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.

By: /s/ Jeff A. Hanks
  
Chief Executive Officer and
Chief Financial Officer
  
 
August 19, 2009
Jeff A. Hanks
  
(Principal Executive Officer and Principal
Financial and Accounting Officer )
    






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