<SEC-DOCUMENT>0001261070-15-000007.txt : 20151116
<SEC-HEADER>0001261070-15-000007.hdr.sgml : 20151116
<ACCEPTANCE-DATETIME>20151116103959
ACCESSION NUMBER: 0001261070-15-000007
CONFORMED SUBMISSION TYPE: 10-Q
PUBLIC DOCUMENT COUNT: 3
CONFORMED PERIOD OF REPORT: 20150930
FILED AS OF DATE: 20151116
DATE AS OF CHANGE: 20151116
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: STRATEGIC ACQUISITIONS INC /NV/
CENTRAL INDEX KEY: 0000847942
STANDARD INDUSTRIAL CLASSIFICATION: BLANK CHECKS [6770]
IRS NUMBER: 133506506
STATE OF INCORPORATION: NV
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 10-Q
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-28963
FILM NUMBER: 151232361
BUSINESS ADDRESS:
STREET 1: 2 GOLD STREET
STREET 2: PH 12
CITY: NEW YORK
STATE: NY
ZIP: 10038
BUSINESS PHONE: 2128786532
MAIL ADDRESS:
STREET 1: 2 GOLD STREET
STREET 2: PH 12
CITY: NEW YORK
STATE: NY
ZIP: 10038
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-Q
<SEQUENCE>1
<FILENAME>stqn10q3q15.txt
<DESCRIPTION>QUARTERLY REPORT ON FORM 10-Q
<TEXT>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
(Mark One)
[X] QUARTERLY REPORT PURUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2015
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT
Commission file number 0-28963
STRATEGIC ACQUISITIONS, INC.
(Exact name of small business issuer as specified in its charter)
Nevada 13-3506506
(State or Other Jurisdiction of (IRS Employer Identification No.)
Incorporation or Organization)
2 Gold Street, PH 12
New York, NY 10038
(Address of Principal Executive Office)
(212) 878-6532
(Issuer's Telephone Number)
--------------------------------------------------------------------------------
Indicate by check mark whether the issuer (1) filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act during
the preceding 12 months (or for such shorter period that the registrant
was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. 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.
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 [ ]
As of September 30, 2015, a total of 1,715,000 shares of Common Stock,
par value $.001 per share, were issued and outstanding.
<PAGE>
PART I - FINANCIAL INFORMATION
ITEM 1 FINANCIAL STATEMENTS
STRATEGIC ACQUISITIONS INC.
BALANCE SHEETS
<TABLE>
<C> <C> <C>
Sept 30, Dec 31,
2015 2014
----------- -----------
(Unaudited)
ASSETS
Current Assets:
Cash and Equivalents $ 5,068 $ 992
-------- --------
TOTAL CURRENT ASSETS $ 5,068 $ 992
======== ========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts Payable $ - $ -
-------- --------
TOTAL CURRENT LIABILITIES $ - $ -
======== ========
Stockholders' Equity
Common Stock, $0.001 par value; 50,000,000
Shares authorized; 1,715,000 shares
and 1,690,000 shares, respectively,
issued and outstanding $ 1,715 $ 1,690
Additional Paid-In Capital 216,688 206,713
Accumulated Deficit (213,335) (207,411)
-------- --------
TOTAL STOCKHOLDERS' EQUITY 5,068 992
-------- --------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 5,068 $ 992
======== ========
</TABLE>
The accompanying note is an integral part of these financial statements.
1
<PAGE>
STRATEGIC ACQUISITIONS INC.
STATEMENTS OF OPERATIONS
(UNAUDITED)
<TABLE>
<C> <C> <C> <C> <C>
Three Months Ending Nine Months Ending
September 30, September 30,
2015 2014 2015 2014
---- ---- ---- ----
Revenues: $ - $ - $ - $ -
--------- --------- --------- ---------
Expenses:
General & Administrative ..... $ 2,130 $ 2,515 $ 5,924 $ 6,707
--------- --------- --------- ---------
Total Expenses ........... 2,130 2,515 5,924 6,707
--------- --------- --------- ---------
Other Income:
Interest Income .............. - - - 2
--------- --------- --------- ---------
Total Other Income ....... - - - 2
NET INCOME (LOSS) $ (2,130) $ (2,515) $ (5,924) $ (6,705)
========= ========= ========= =========
Net Income (Loss) Per Common Share
- basic and fully diluted .... $ (0.00) $ (0.00) $ (0.00) $ (0.00)
========= ========= ========= =========
Weighted Average Number of
Shares Outstanding..... 1,715,000 1,690,000 1,645,037 1,690,000
========= ========= ========= =========
</TABLE>
The accompanying note is an integral part of these financial statements.
2
<PAGE>
STRATEGIC ACQUISITIONS INC.
STATEMENTS OF CASH FLOWS
(UNAUDITED)
<TABLE>
<C> <C> <C>
Nine Months Ending
September 30,
2015 2014
---------- ----------
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Loss $ (5,924) $ (6,705)
Adjustments to Reconcile Net Loss to
Net Cash Used by Operating Activities:
Increase (decrease) in accounts payable - -
---------- ----------
Net cash flows from Operating Activities (5,924) (6,705)
CASH FLOWS FROM INVESTING ACTIVITIES - -
CASH FLOWS FROM FINANCING ACTIVITIES
Issuance of common stock, net of costs 10,000 -
---------- ----------
Net cash flows from financing activities 10,000 -
---------- ----------
NET INCREASE (DECREASE) IN CASH
AND CASH EQUIVALENTS 4,076 (6,705)
CASH AND CASH EQUIVALENTS,
BEGINNING OF PERIOD 992 10,274
---------- ----------
CASH AND CASH EQUIVALENTS,
END OF PERIOD $ 5,068 $ 3,569
========== ==========
</TABLE>
The accompanying note is an integral part of these financial statements.
3
<PAGE>
STRATEGIC ACQUISITIONS INC.
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2015
(UNAUDITED)
NOTE 1 - BASIS OF PRESENTATION
The consolidated interim financial statements included herein, presented
in conformity with United States generally accepted accounting principles and
stated in US dollars, have been prepared by the Company, without audit, pursuant
to the rules and regulations of the Securities and Exchange Commission. Certain
information and footnote disclosures normally included in financial statements
prepared in accordance with generally accepted accounting principles have been
condensed or omitted pursuant to such rules and regulations, although the
Company believes that the disclosures are adequate to make the information
presented not misleading.
These statements reflect all adjustments, consisting of normal recurring
adjustments, which, in the opinion of management, are necessary for fair
presentation of the information contained therein. It is suggested that these
consolidated interim financial statements be read in conjunction with the
financial statements of the Company for the year ended December 31, 2014 and
notes thereto included in the Company's 10-K annual report. The Company
follows the same accounting policies in the preparation of interim reports.
Results of operations for interim periods are not indicative of annual
results.
NOTE 2 - GOING CONCERN
The Company has incurred net losses of approximately $213,335 for the period
from January 27, 1989 (Inception) through September 30, 2015 and has commenced
limited operations, raising substantial doubt about the Company's ability to
continue as a going concern. The Company will seek additional sources of capital
through the issuance of debt or equity financing, but there can be no assurance
the Company will be successful in accomplishing its objectives.
The ability of the Company to continue as a going concern is dependent on
additional sources of capital and the success of the Company's plan. The
financial statements do not include any adjustments that might be necessary if
the Company is unable to continue as a going concern.
4
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
The following discussion should be read in conjunction with the accompanying
financial statements for the nine-month period ended September 30, 2015 and
the Form 10-K for the fiscal year ended December 31, 2014.
The Company has limited capital resources and stockholder's equity. At
September 30, 2015, the Company had current assets in the form of cash and cash
equivalents of $5,068 and liabilities of $0.
The Company has not realized any revenues from operations in the past two
years, and its plan of operation for the next twelve months shall be to
continue to locate a suitable acquisition/merger candidate. The Company can
provide no assurance that it will continue to satisfy its cash requirements for
at least the next twelve months if a suitable acquisition/merger is completed.
It is unlikely the Company will have any revenue, other than interest
income, unless it is able to effect an acquisition of or merger with an
operating company, of which there can be no assurance.
For the quarters ended September 30, 2015 and 2014, the Company showed net
losses of $2,130 and $2,515, respectively. The decrease in net loss was
primarily due to a change in the timing of payments to the Company's auditor.
For the nine months ended September 30, 2015 and 2014, the Company showed
net losses of $5,924 and $6,705, respectively. The decrease in net loss was
primarily due to a change in the timing of payments to the Company's auditor.
ITEM 4. CONTROLS AND PROCEDURES
As of the end of the period covered by this report, the Company conducted
an evaluation, under the supervision and with the participation of the Principal
Executive Officer and Principal Financial Officer, of the effectiveness of the
Company's disclosure controls and procedures (as defined in Rules 13a-15(e)
and 15d-15(e) under the Securities Exchange Act of 1934 (the "Exchange Act").
Based on this evaluation, the Principal Executive Officer and Principal
Financial Officer concluded that the Company's disclosure controls and
procedures are effective to ensure that information required to be disclosed
by the Company in reports that it files or submits under the Exchange Act is
recorded, processed, summarized and reported within the time periods specified
in Securities and Exchange Commission rules and forms. Additionally, the
Principal Executive Officer and Principal Financial Officer concluded that
the Company's disclosure controls and procedures are effective to ensure that
information required to be disclosed by the Company in the reports that it
files or submits under the Exchange Act is accumulated and communicated to the
Principal Executive Officer and Principal Financial Officer, as appropriate
to allow timely decisions regarding disclosure.
There was no change in the Company's internal control over financial
reporting during the Company's most recently completed fiscal quarter that has
materially affected, or is reasonably likely to materially affect, the
Company's internal control over financial reporting.
5
<PAGE>
PART II. OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
None
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
None
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None
ITEM 4. MINE SAFETY DISCLOSURE
None
ITEM 5. OTHER INFORMATION
None
ITEM 6. EXHIBITS
31.1 Certification by the Principal Executive Officer and Principal Financial
Officer pursuant to Section 302 of the Sarbanes-0xley Act of 2002
32.1 Certification by the Principal Executive Officer and Principal Financial
Officer pursuant to 18 U.S.C. Section 1350, Section 906 of the
Sarbanes-Oxley Act of 2002
6
<PAGE>
SIGNATURES:
Pursuant to the requirements 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.
DATED: November 16, 2015
STRATEGIC ACQUISITIONS, INC.
BY: /S/ JOHN P. O'SHEA
----------------------------------
John P. O'Shea, President
7
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31
<SEQUENCE>2
<FILENAME>stqn10q3q15ex31.txt
<DESCRIPTION>EXHIBIT 31
<TEXT>
Exhibit 31.1
Certification Pursuant to Section 302
of the Sarbanes-Oxley Act of 2002
I, John P. O'Shea, certify that:
1. I have reviewed this quarterly report on Form 10-Q of Strategic
Acquisitions, Inc. (the "Registrant");
2. Based on my knowledge, this report does not contain any untrue statement
of a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material respects
the financial condition, results of operations and cash flows of the
Registrant as of, and for, the periods presented in this report;
4. I am 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 my supervision,
to ensure that material information relating to the Registrant is made
known to me by others within the Registrant, particularly during the
period in which this report is being prepared. The Registrant has no
consolidated or unconsolidated subsidiaries;
b) designed such internal control over financial reporting, or caused such
internal control over financial reporting to be designed under my
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 my conclusions about the
effectiveness of the disclosure controls and procedures as of the end of
the period covered by this report based on such evaluation; and
d) disclosed in this report any change in the Registrant's internal control
over financial reporting that occurred during the Registrant's most recent
fiscal quarter that has materially affected, or is reasonably likely to
materially affect, the Registrant's internal control over financial
reporting; and
5. I have disclosed, based on my most recent evaluation of internal control over
financial reporting, to the Registrant's auditors and the audit committee of
the Registrant's board of directors (or persons performing the equivalent
functions):
a) all significant deficiencies and material weaknesses in the design or
operation of internal control over financial reporting which are
reasonably likely to adversely affect the 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.
/s/ JOHN P. O'SHEA November 16, 2015
---------------------------------------
John P. O'Shea
Principal Executive Officer and
Principal Financial Officer
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-32
<SEQUENCE>3
<FILENAME>stqn10q3q15ex32.txt
<DESCRIPTION>EXHIBIT 32
<TEXT>
Exhibit 32.1
Certification Pursuant to Section 906
of the Sarbanes-Oxley Act of 2002
In connection with the filing of the Quarterly Report of Strategic Acquisitions,
Inc. (the "Company") on Form 10-Q for the period ended September 30, 2015 as
filed with the Securities and Exchange Commission on the date hereof, I, John
P. O'Shea, President of the Company, certify, pursuant to 18 U.S.C. ss.1350,
as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:
1. The Report fully complies with the requirements of Section 13(a) or
15(d) of the Securities Exchange Act of 1934, as amended, and
2. The information contained in the Report fairly presents, in all material
respects, the financial condition and results of operations of the
Company.
/s/ JOHN P. O'SHEA November 16, 2015
---------------------------------
John P. O'Shea
Principal Executive Officer and
Principal Financial Officer
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>