-----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, Ayism/0swDelDIrAAXn7by6JIBbVq6gTdjGTOO37X7Mxzid/QIGHkoSZi06sbd1i 2fz1FEK4CrsdWpEGYL5XqA== 0000819926-05-000005.txt : 20050726 0000819926-05-000005.hdr.sgml : 20050726 20050726104905 ACCESSION NUMBER: 0000819926-05-000005 CONFORMED SUBMISSION TYPE: 10KSB PUBLIC DOCUMENT COUNT: 5 CONFORMED PERIOD OF REPORT: 20050430 FILED AS OF DATE: 20050726 DATE AS OF CHANGE: 20050726 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MALEX INC CENTRAL INDEX KEY: 0000819926 STANDARD INDUSTRIAL CLASSIFICATION: INVESTORS, NEC [6799] IRS NUMBER: 752233445 STATE OF INCORPORATION: DE FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 10KSB SEC ACT: 1934 Act SEC FILE NUMBER: 033-16335 FILM NUMBER: 05973111 BUSINESS ADDRESS: STREET 1: 6959 ARAPAHO STREET 2: SUITE 122 CITY: DALLAS STATE: TX ZIP: 75248 BUSINESS PHONE: (972)386-8907 MAIL ADDRESS: STREET 1: 6959 ARAPAHO STREET 2: SUIT3 122 CITY: DALLAS STATE: TX ZIP: 75248 10KSB 1 malex10k043005.txt U.S. SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-KSB (Mark One) [x] Annual report under Section 13 or 15 (d) of the Securities Exchange Act of 1934 (Fee required) For the fiscal year ended April 30, 2005 -------------- [ ] Transition report under Section 13 or 15 (d) of the Securities Exchange Act of 1934 (No fee required) For the transition period from ________________ to _________________ Commission file number 33-16335 -------- MALEX, INC. - -------------------------------------------------------------------------------- (Name of Small Business Issuer in Its Charter) DELAWARE 74-2235008 - -------------------------------------------------------------------------------- (State or Other Jurisdiction of (I.R.S. Employer Incorporation or Organization) Identification No.) 18170 Hillcrest Road, Suite 100, Dallas, Texas 75252 - -------------------------------------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) - -------------------------------------------------------------------------------- (Former Address of Principal Executive Offices) (Zip Code) (972) 612-1400 - -------------------------------------------------------------------------------- (Issuer's Telephone Number, Including Area Code) Securities registered under Section 12(b) of the Exchange Act: Name of Each Exchange Title of Each Class on Which Registered ------------------- --------------------- None None Securities registered under Section 12(g) of the Exchange Act: None Check whether the issuer:(1)filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 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 past 90 days. [x] Yes [ ] No Check if there is no disclosure of delinquent filers in response to Item 405 of Regulation S-B is not contained in this form, and no disclosure will be contained, to the best of registrant's knowledge, in a definitive proxy or information statements incorporated by reference in Part III of this Form 10-KSB or any amendment to this Form 10-KSB. [x] Issuer's revenues for its most recent fiscal year is $ -. As of April 30, 2005, the aggregate market value of the voting stock hold by non-affiliates was $143,328. The number of shares outstanding of the Registrant's common stock $0.00002 par value was 8,416,000 at April 30, 2005. Documents Incorporated by Reference. None Item 1. Business Malex, Inc. (Registrant) was incorporated in Delaware on June 24, 1987, as a wholly owned subsidiary of Forme Capital, Inc. and on December 9, 1987 all Registrant's issued shares were distributed to Forme stockholders. Registrant has no operations or substantial assets, and intends to seek out and obtain candidates with which it can merge or whose operations or assets can be acquired through the issuance of common stock and possibly debt. Existing shareholders of Registrant will, in all probability, experience significant dilution of their ownership of Registrant and should experience an appreciation in the net book value per share. Management will place no restrictions on the types of businesses which may be acquired. In determining the suitability of a combination partner, Management will require that the business being acquired has a positive net worth, that it show evidence of being well-managed, and that its owners and management have a good reputation within the business community. Management intends to seek out business combination partners by way of its business contacts, including possible referrals from the Registrant's accountants and attorneys, and may possibly utilize the services of a business broker. Registrant is now seeking an acquisition and/or merger transaction, and is effectively a blind pool company. The Registrant is one of a number of similar blind pool companies affiliated with Mr. Daniel Wettreich the President of the Registrant. The other companies are as follows: Wincroft,Inc. ("Wincroft") was organized in the state of Colorado in May 1980 as part of a quasi-reorganization of Colspan Environmental Systems, and has made several acquisitions and divestments of businesses unrelated to its present activities. It has been a blind pool company since April 2000. Mr. Daniel Wettreich is a Director and President of Wincroft and as at the financial year ended March 2005 owned 3,576,400 shares representing 80.5% of the issued and outstanding common stock of Wincroft. Camelot Corporation ("Camelot") was incorporated in the state of Colorado in September 1975, and has made several acquisitions and divestments of businesses unrelated to its present activities. It has been a blind pool company since July 1998. Mr. Daniel Wettreich is a Director and President of Camelot and as at the financial year ended April 2005 had no interest in the voting rights of the issued and outstanding common and preferred stock of that company. Forme Capital, Inc. ("Forme") was incorporated in the state of Delaware in December 1986, and has made several acquisitions and divestments of businesses unrelated to its present activities. It has been a blind pool company since April 2000. Mr. Daniel Wettreich is a Director and President of Forme and as at the financial year ended April 2005 owned 11,824,200 shares representing 93.0% of the issued and outstanding common stock of Forme. The Registrant has had no success in finding companies with which to merge during the past three years. The basis on which future decisions to merge with any blind pool company associated with Mr.Daniel Wettreich will be the opinion of Mr.Wettreich regarding primarily the quality of the businesses that were to be merged and their potential for future growth, the quality of the management of the to be merged entities, and the benefits that could accrue to the shareholders of the blind pool company if the merger occured. The selection of which blind pool company affiliated with Mr. Wettreich will be used for a merger in a given transaction is arbitrary and is partly dependent on which blind pool company is of interest to the potential merger partner. The Registrant has no particular advantage as a blind pool company over any other blind pool company affiliated with Mr. Wettreich, and there can be no guarantee that a merger will take place, or if a merger does take place that such merger will be successful or be beneficial to the stockholders of the Registrant. Item 2. Properties Registrant shares offices at 18170 Hillcrest Road, Suite 100, Dallas, Texas 75252 with an affiliate of its President on an informal basis. Item 3. Legal Proceedings No legal proceedings to which the Registrant is a party is subject or pending and no such proceedings are known by the Registrant to be contemplated. There are no proceedings to which any director, officer or affiliate of the Registrant, or any owner of record (or beneficiary) of more than 5% of any class of voting securities of the Registrant is a party adverse to the Registrant. Item 4. Submission of Matters to a Vote of Security Holders No matters were submitted to a vote of security holders. PART II Item 5. Market for Registrant's Common Equity and Related Stockholder Matters Registrant's common stock is traded on the OTC Bulletin Board (symbol MLEX.OB) and the market for the stock has been relatively inactive. The range of high and low bid quotations for the quarters since for the Registrants previous two fiscal years. The quotations are taken from the "pink sheets" of the National Quotation Bureau and the OTC Bulletin Board data available on the Internet are shown below. They reflect inter-dealer prices, without retail mark-up, mark-down or commission, and may not necessarily represent actual transactions. Quarter Ending Bid Ask - -------------- ---- --- April 30,2005 0.51 0.51 January 31,2004 0.51 0.51 October 31,2004 0.08 0.08 July 31,2004 0.08 0.08 April 30,2004 0.20 0.20 January 31,2004 0.20 0.20 October 31,2003 0.20 0.20 July 31,2003 0.20 0.20 April 30, 2003 0.06 0.55 As of April 30, 2005,there were 1,061 shareholders on record of Registrant's common stock, including the shares held in street name by brokerage firms. Selected Financial Data Year Ended Year Ended Year Ended April 30, 2005 April 30, 2004 April 30,2003 -------------- -------------- ------------- Gross Revenue $ - $ - $ - Income (loss) from continuing operations (1,100) (950) (2,050) Income (loss) from continuing operations per share - - - Total Assets 3 3 3 Long-term Obligations and redeemable Preferred Stock - - - Cash Dividends Per Share - - - Item 6. Management Discussion and Analysis of Financial Condition and Results of Operations During the year ended April 30, 2005, losses of $1,100 compared with $950 in 2004 were incurred. The Company has no activities. Registrant has no operations or substantial assets and intends to seek out and obtain candidates with which it can merge or whose operations or assets can be acquired through the issuance of common stock and possibly debt. It is the present expectation of the Management of Registrant that in connection with any such merger or acquisition of operations or assets that the Management of Registrant will be transferred to the new controlling shareholders. The Management of Registrant intends to negotiate covenants with any such company or controlling shareholders that it/they will maintain Registrant's registration with the Securities and Exchange Commission, comply with the terms of its Articles of Incorporation and Bylaws in all respects, maintain and promote an orderly market in Registrant's Common Stock and otherwise treat Registrant's shareholders fairly. Liquidity and Capital Resources Registrant is a development-stage company and has not conducted any business operations as yet. The Registrant's cash resources and liquidity are extremely limited. The Registrant has no assets to use as collateral to allow the Registrant to borrow, and there is no available external funding source. If no combination partner can be found within twelve months, Registrant will experience severe cash flow difficulties. Registrant's principal needs for capital are for Securities and Exchange Commission reporting requirements, bookkeeping and professional fees. Item 7. Financial Statement and Supplementary Data Index to Financial Statements Report of Independent Certified Public Accountant Comiskey and Company, PC for April 30, 2005 F-1 Larry O'Donnell, CPA, PC for April 30, 2004 F-2 Financial Statements for April 30, 2005, and 2004 Balance Sheet F-3 Statements of Operations F-4 Statements of Changes in Stockholders Equity F-5 Statements of Cash Flows F-6 Notes to Financial Statements F-7 to F-8 Comiskey and Company, PC 789 Sherman Street Telephone (303) 830 2255 Suite 385 Denver, Colorado, 80203 Report of Independent Registered Public Accounting Firm Board of Directors and Stockholders Malex, Inc. We have audited the accompanying balance sheet of Malex, Inc. as of April 30, 2005 and the related statements of operations, changes in stockholders' equity and cash flows for the year then ended. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe our audit provides a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Malex, Inc. as of April 30, 2005 and the results of its operations and it's cash flows for the year then ended in conformity with generally accepted accounting principles in the United States of America. Comiskey and Company PROFESSIONAL CORPORATION July 18, 2005 F-1 Larry O'Donnell, CPA, PC 2228 South Fraser Street Telephone (303) 745 4545 Unit 1 Aurora, Colorado, 80014 Report of Independent Registered Public Accounting Firm Board of Directors and Stockholders Malex, Inc. I have audited the accompanying balance sheet of Malex, Inc. as of April 30, 2004 (not separately presented) and the related statements of operations, accumulated deficit and cash flows for the year then ended. These financial statements are the responsibility of the Company's management. My responsibility is to express an opinion on these financial statements based on my audit. I conducted my audit in accordance with standards of the Public Company Accounting Oversight Board (United States). Those standards require that I plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. I believe my audit provides a reasonable basis for my opinion. In my opinion, the financial statements referred to above present fairly, in all material respects, the financial position (not separately presented) of Malex, Inc. as of April 30, 2004 and the results of its operations and their cash flows for the year then ended in conformity with generally accepted accounting principles in the United States of America. Larry O'Donnell, CPA, PC July 26, 2004 F-2 MALEX, INC. BALANCE SHEET April 30, 2005 ASSETS CURRENT ASSETS Cash $ 3 --------- Total assets 3 ========= LIABILITIES AND STOCKHOLDERS EQUITY LIABILITIES Current Liabilities Accounts payable - related party $ 7,100 --------- Total Liabilities 7,100 --------- Stockholders' equity: Common stock (number of shares authorized 75,000,000, issued and outstanding 8,416,000 shares, par value $.00002/share $ 168 Additional paid in capital 2,097 Accumulated deficit (9,362) --------- Stockholders' Equity (Deficit) $ (7,097) --------- Total Liabilities and Stockholders' Equity $ 3 ========= The accompanying notes are an integral part of these financial statements. F-3 MALEX, INC. STATEMENTS OF OPERATIONS For the years ended April 30, 2005 and April 30, 2004 2005 2004 Income $ -- $ -- Expenses - General and administrative 1,100 950 ----------- ----------- Net Income (loss) $ (1,100) $ (950) =========== =========== Earnings per common share* -- -- *(less than $0.001 per share) Weighted average number of shares outstanding 8,416,000 8,416,000 The accompanying notes are an integral part of these financial statements. F-4 MALEX, INC. STATEMENTS OF ACCUMULATED DEFICIT Years Ended April 30, 2005 and 2004 2005 2004 Balance, May 1 $ (8,262) $ (7,312) Net income (loss) (1,100) (950) ----------- ----------- Balance, April 30 $ (9,362) $ (8,262) =========== =========== The accompanying notes are an integral part of these financial statements. F-5 MALEX, INC. STATEMENT OF CASH FLOWS For the years ended April 30, 2005 and April 30, 2004 2005 2004 CASH FLOWS FROM OPERATING ACTIVITIES Net loss $ (1,100) $ (950) (Increase) decrease in: Accounts payable - related party 1,100 950 ---------- ---------- NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES -- -- ---------- ---------- CASH FLOWS FROM INVESTING ACTIVITIES -- -- ---------- ---------- CASH FLOWS FROM FINANCING ACTIVITIES Issuance of common stock -- -- ---------- ---------- NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES -- -- ---------- ---------- NET INCREASE (DECREASE) IN CASH -- -- BEGINNING CASH BALANCE 3 3 CASH BALANCE AT APRIL 30 $ 3 $ 3 The accompanying notes are an integral part of these financial statements. F-6 MALEX, INC. Notes to Financial Statements Organization and Summary of Significant Accounting Policies This summary of significant accounting policies is presented to assist in understanding the financial statements of Malex, Inc. These accounting policies conform to generally accepted accounting principles. Organization The Company was organized on June 24, 1987 as a Delaware corporation and a fiscal year end of April 30 was selected. The Company was formed by Forme Capital, Inc. which distributed 100% of the Common Stock in issue to its stockholders in December, 1987. Planned principal operations of the Company have not yet commenced and activities to date have been primarily organizational in nature. The Company intends to evaluate, structure and complete a merger with, or acquisition of, prospects consisting of private companies, partnerships or sole proprietorships. Income Taxes The Company has incurred approximately $9,000 in operating losses. Since realization of the tax benefits of these net operating losses is not assured beyond any reasonable doubt, a deferred tax asset of approximately $2,000 has been offset by a valuation allowance. Net Income (Loss) Per Common Share The net income/loss per common share is computed by dividing the net income (loss) for the period by the average number of shares outstanding. Capital Stock On March 14, 1994, shareholders approved an increase in the number of authorized shares and a reduction in the par value of each share. The number of shares authorized are 75,000,000, number of shares issued and outstanding are 8,416,000 and the par value of each share is $0.00002. The holders of the Company's stock are entitled to receive dividends at such time and in such amounts as may be determined by the Company's Board of Directors. All shares of the Company's Common Stock have equal voting rights, each share being entitled to one vote per share for the election of directors and for all other purposes. Related Party Transactions The Company has an account payable to it's President which has paid its operating expenses. The company also shares office space with an affiliated entity for no consideration, however, the value is considered immaterial. F-7 Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results differ from the estimates. Recently issued accounting pronouncements In November 2004, the FASB issued SFAS No. 151, "Inventory Costs an amendment of ARB No. 43, Chapter 4." This Statement clarifies the accounting for abnormal amounts of idle facility expense, freight, handling costs, and wasted materials. This Statement is effective for inventory costs incurred during fiscal years beginning after June 15, 2005. The initial application of SFAS No. 151 will have no impact on the Company's financial statements. In December 2004, the FASB issued SFAS No. 152, "Accounting for Real Estate Time-Sharing Transactions - an amendment of FASB Statements No. 66 and 67." This Statement references the financial accounting and reporting guidance for real estate time-sharing transactions that is provided in AICPA Statement of Position 04-2, "Accounting for Real Estate Time-Sharing Transactions." This Statement also states that the guidance for incidental operations and costs incurred to sell real estate projects does not apply to real estate time-sharing transactions. This Statement is effective for financial statements for fiscal years beginning after June 15, 2005. The initial application of SFAS No. 152 will have no impact on the Company's financial statements. In December 2004, the FASB issued SFAS No. 153, "Exchanges of Nonmonetary Assets - - - an amendment of APB Opinion No. 29." This Statement eliminates the exception for nonmonetary exchanges of similar productive assets and replaces it with a general exception for exchanges of nonmonetary assets that do not have commercial substance. A nonmonetary exchange has commercial substance if the future cash flows of the entity are expected to change significantly as a result of the exchange. This Statement is effective for nonmonetary asset exchanges occurring in fiscal periods beginning after June 15, 2005. The Company does not expect application of SFAS No. 153 to have a material affect on its financial statements. In December 2004, the Financial Accounting Standards Board issued Statement of Financial Accounting Standards No. 123 (revised 2004), "Share-Based Payment" (SFAS 123R), which replaces SFAS 123 and supercedes APB Opinion No. 25. SFAS 123R requires all share-based payments to employees, including grants of employee stock options, to be recognized in the financial statements based on their fair values. The proforma disclosures previously permitted under SFAS 123 no longer will be an alternative to financial statement recognition. For the Company, SFAS 123R is effective for periods beginning after December 15, 2005. Early application of SFAS 123R is encouraged, but not required. We plan to adopt SFAS 123R on January 1, 2006 using the modified prospective application method described in the statement. Under the modified prospective application method, we will apply the standard to new awards, and to awards modified, repurchased, or cancelled after the required effective date. Additionally, compensation cost for the unvested portion of awards outstanding as of the required effective date will be recognized as compensation expense as the requisite service is rendered after the required effective date. We are evaluating the impact of adopting SFAS 123R and expect that we will not record substantial non-cash stock compensation expenses. The adoption of SFAS 123R is not expected to have a significant effect on our financial condition, results of operations, and cash flows. The future impact of the adoption of SFAS 123R cannot be predicted at this time because it will depend on levels of share-based payments granted by us in the future. F-8 Item 8. Disagreements on Accounting and Financial Disclosure ---------------------------------------------------- During the past three years, there were no disagreements between the Company and the auditors regarding any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure. Change in Independent Accountants On May 13, 2005, Registrant dismissed Larry O'Donnell CPA, P.C. ("O'Donnell") as its principal accountant. Such action had been previously approved by the Registrant's Board of Directors. O'Donnell's reports on the financial statements of the Company for the two most recent fiscal years ended April 30,2004 and April 30,2003 did not contain an adverse opinion or disclaimer of opinion, and were not modified as to audit scope or accounting principles. O'Donnell had been appointed as auditor of the corporation on May 12,1998. From the time of O'Donnell's appointment as the Company's auditor through the date of this report, there have been no disagreements with O'Donnell on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of O'Donnell, would have caused O'Donnell to make reference to the subject matter of the disagreements in connection with its report. During the two most recent fiscal years and through the date of this report there have been no reportable events. On May 13, 2005, the Registrant retained Comiskey & Company, P.C. as the Company's independent accountants to conduct an audit of the Registrant's financial statements for the fiscal year ended March 31, 2005. This action was previously approved by the Registrant's Board of Directors. Item 8A. Controls and Procedures As of the end of the period covered by this Annual Report, our Chief Executive Officer and Chief Financial Officer (the "Certifying Officers") conducted evaluations of our disclosure controls and procedures. As defined under Sections 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934 Act, as amended (the "Exchange Act") the term "disclosure controls and procedures" means controls and other procedures of an issuer that are designed to ensure that information required to be disclosed by the issuer in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the SEC's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer's management, including the Certifying Officers, to allow timely decisions regarding required disclosure. Based on this evaluation, the Certifying Officers originally concluded that our disclosure controls and procedures were effective to ensure that material information is recorded, processed, summarized and reported by our management on a timely basis in order to comply with our disclosure obligations under the Exchange Act, and the rules and regulations promulgated thereunder. PART III Item 9. Directors and Executive Officers of the Registrant The following persons serve as directors and/or officers of the Registrant: Name Age Position Period Served Term Expires - ---- --- -------- ------------- ------------ Daniel Wettreich 53 President, June 24, 1987 Next Annual Treasurer, Meeting Director Daniel Wettreich is Chairman, President and Director of the Company since December 1986. Additionally, he currently holds directors positions in the following public companies; Camelot Corporation, Forme Capital, Inc., and Wincroft, Inc. Item 10. Executive Compensation The following table lists all cash compensation paid to Registrant's executive officers as a group for services rendered in all capacities during the fiscal year ended April 30, 2005. No individual officer received compensation exceeding $100,000; no bonuses were granted to any officer, nor was any compensation deferred. CASH COMPENSATION TABLE Name of individual Capacities in Cash Number in Group Which Served Compensation NONE Directors of the Registrant receive no salary for their services as such, but are reimbursed for reasonable expenses incurred in attending meetings of the Board of Directors. Registrant has no compensatory plans or arrangements whereby any executive officer would receive payments from the Registrant or a third party upon his resignation, retirement or termination of employment, or from a change in control of Registrant or a change in the officer's responsibilities following a change in control. Item 11. Security Ownership of Certain Beneficial Owners and Management The following table shows the amount of common stock, $0.00002 par value, owned as of April 30, 2005, by each person known to own beneficially more than five percent (5%) of the outstanding common stock of the Registrant, by each director, and by all officers and directors as a group (1 person). Each individual has sole voting power and sole investment power with respect to the shares beneficially owned. Name and Address of Amount and Nature of Percent Beneficial Owner Beneficial Ownership of Class ---------------- -------------------- -------- Daniel Wettreich 8,006,490 (1) 92.64% 18170 Hillcrest Road, Suite 100 Dallas, Texas 75252 All Officers and Directors as a group (1 person) 8,006,490 (1) 92.64% (1) 225,000 of these shares are owned by the wife of Mr. Wettreich. He has disclaimed all beneficial ownership interest in these shares. Item 12. Certain Relationships and Related Transactions During April 1998, Mick Y. Wettreich surrendered 24,134,000 Malex shares to the Company for retirement without payment of any compensation. PART IV Item 13. Exhibits, Financial Statement Schedules, and Reports on Form 8-K (a)(1) The following financial statements are included in Part II, Item 8 of this report for fiscal year ended April 30, 2005. Balance Sheets Statements of Operations Statements of Changes in Stockholders' Equity Statements of Cash Flows Notes to Consolidated Financial Statements (a)(2) All schedules for which provision is made in the applicable accounting regulations of the Securities and Exchange Commission are not required under the related instructions or are inapplicable and have therefore been omitted. (a)(3) Exhibits included herein: NONE Reports on Form 8-K:May 13,1005 reporting Item 4.01 NONE ITEM 14 - PRINCIPAL ACCOUNTANT FEES AND SERVICES General. Comiskey and Company, PC ("Comiskey") is the Company's principal auditing accountant firm. The Company's Board of Directors has considered whether the provision of audit services is compatible with maintaining Comiskey's independence. Audit Fees. Comiskey billed for the following professional services: $1,200 for the audit of the annual financial statement of the Company for the fiscal year ended April 30, 2005. The Company's previous auditor, Larry O'Donnell, CPA, PC billed for the following professional services: $950 for the audit of the annual financial statement of the Company for the fiscal year ended April 30, 2004, $150 for the review of the quarterly financial statements of the Company for the quarters ended July 31, 2004;October 31, 2004 and January 31, 2005. SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. MALEX, INC. (Registrant) By: /s/ Daniel Wettreich -------------------------------- Daniel Wettreich, President Date: July 25, 2005 Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated. By: /s/ Daniel Wettreich -------------------------------- Daniel Wettreich, Director; President (Principal Executive Officer); Treasurer (Principal Financial Officer) Date: July 25, 2005 EX-31.1 2 malex10k043005ex311.txt SECTION 302 CERTIFICATION OF CHIEF EXECUTIVE OFFICER EXHIBIT 31.1 SECTION 302 CERTIFICATION OF CHIEF EXECUTIVE OFFICER I, Danny Wettreich, certify that: 1. I have reviewed this annual report on Form 10-KSB of Malex, Inc.; 2. Based on my knowledge, this annual 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 annual report; 3. Based on my knowledge, the financial statements, and other financial information included in this annual 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 annual report; 4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have; a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the controls and procedures, as of the end of the period covered by this report based on such evaluation; and d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonable likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, 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 and material weaknesses in the design or operation of internal control over financial reporting are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: July 25, 2005 /s/ Danny Wettreich ----------------------- Danny Wettreich Chief Executive Officer EX-31.2 3 malex10k043005ex312.txt SECTION 302 CERTIFICATION OF CHIEF FINANCIAL OFFICER EXHIBIT 31.2 SECTION 302 CERTIFICATION OF CHIEF FINANCIAL OFFICER I, Danny Wettreich, certify that: 1. I have reviewed this annual report on Form 10-KSB of Malex, Inc.; 2. Based on my knowledge, this annual 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 annual report; 3. Based on my knowledge, the financial statements, and other financial information included in this annual 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 annual report; 4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have; a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the controls and procedures, as of the end of the period covered by this report based on such evaluation; and d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonable likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, 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 and material weaknesses in the design or operation of internal control over financial reporting are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: July 25, 2005 /s/ Danny Wettreich ----------------------- Danny Wettreich Chief Financial Officer EX-32.1 4 malex10k043005ex321.txt SECTION 906 CERTIFICATION OF CHIEF EXECUTIVE OFFICER EXHIBIT 32.1 CERTIFICATION PURSUANT TO RULE 13a-14(b) and 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO Section 906 of the Sarbanes-Oxley Act of 2002 In connection with the filing by Malex, Inc. (the "Company") of the Annual Report on Form 10-KSB for the period ending April 30, 2005 (the "Report"), I, Danny Wettreich, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. 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) and 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 operation of the Company. /s/ Danny Wettreich --------------------------------- Danny Wettreich Chief Executive Officer Dated: July 25, 2005 EX-32.2 5 malex10k043005ex322.txt SECTION 906 CERTIFICATION OF CHIEF FINANCIAL OFFICER EXHIBIT 32.2 CERTIFICATION PURSUANT TO RULE 13a-14(b) and 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO Section 906 of the Sarbanes-Oxley Act of 2002 In connection with the filing by Malex, Inc. (the "Company") of the Annual Report on Form 10-KSB for the period ending April 30, 2005 (the "Report"), I, Danny Wettreich, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. 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) and 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 operation of the Company. /s/ Danny Wettreich --------------------------------- Danny Wettreich Chief Financial Officer Dated: July 25, 2005 -----END PRIVACY-ENHANCED MESSAGE-----