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8-K - ACTIONVIEW INTERNATIONAL INCf8krematchfights.htm
EX-2 - ACTIONVIEW INTERNATIONAL INCdefinitiveagreementbkb.htm
EX-3 - ACTIONVIEW INTERNATIONAL INCseriesapreferredstockdesigna.htm

Exhibit 2.02

ACTIONVIEW INTERNATIONAL, INC.


CONSOLIDATED FINANCIAL STATEMENTS

As of September 30, 2009

(Unaudited)

 

 

 

 

 




ActionView International, Inc
Consolidated Balance Sheet
(Unaudited)



 

 

 

September 30,

2009

ASSETS

Current Assets

 

 

  Cash

$

                  690

  Receivable

 

67,500

  Inventory

 

                  1,230

Total Current Assets

 

                69,420

Total Assets

$

                69,420





LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities

 

 

  Accounts payable and accrued liabilities

$

                  16,742

  Due to related parties

 

                12,000

Total Current Liabilities

 

                28,742

Total Liabilities

 

                28,742

Stockholders' Equity

 

 

Common Stock,  Authorized 1,000,000,000 Shares, $0.001 Par Value, 54,000,000 Shares Issued and Outstanding

 

                  54,000

Preferred Stock, 50,000,000 Authorized, Par Value $0.001, 100,000 shares Issued and Outstanding

 

100

  Additional Paid in Capital

 

196,332             

  Retained Deficit

 

            (205,764)

Total Stockholders' Equity

 

               40,678

Total Liabilities and Stockholders' Equity

$

                69,420

 

 

 

 

The accompanying notes are an integral part of these consolidated financial statements









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ActionView International, Inc
Consolidated Statement of Operations
(Unaudited)




 

 

 

For the Nine
Months Ended
September 30,

 

 

 

 

 

2009

Revenues

 

 

     Sales

$

                       5,503

 

 

 

 

 

Operating Expenses

 

 

   Event expense

 

45,425

   Consulting

 

32,500

   Office and general administration

 

137,342

Total Operating Expenses

 

215,267

Net Operating Loss

 

 

 

 

 

 

 

Net Loss

$

205,764

Net Loss Per Share

$

0.005

Weighted Average Shares Outstanding

 

                54,000,000

 

 

 

 

 



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ACTIONVIEW INTERNATIONAL, INC

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

September 30, 2009

(Unaudited)



NOTE 1 -BASIS OF PRESENTATION


Unaudited Interim Consolidated Financial Statements


The accompanying unaudited interim consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles. They may not include all information and footnotes required by United States generally accepted accounting principles for complete financial statement disclosure. In the opinion of Management, all adjustments considered necessary for a fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the nine months ended September 30, 2009 are not necessarily indicative of the results that may be expected for the year ending December 31, 2009.


Going concern


These unaudited interim consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles, on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. The continuing operations of the Company is dependent upon the ability of the Company to obtain necessary financing to fund its working capital requirements, and upon future profitable operations. The accompanying financial statements do not include any adjustments relative to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might result from the outcome of this uncertainty.  There can be no assurance that capital will be available as necessary to meet the Company’s working capital requirements or, if the capital is available, that it will be on terms acceptable to the Company.  The issuances of additional equity securities by the Company may result in dilution in the equity interests of its current stockholders. Obtaining commercial loans, assuming those loans would be available, will increase the Company's liabilities and future cash commitments. If the Company is unable to obtain financing in the amounts and on terms deemed acceptable, the business and future success may be adversely affected. Management intends to finance operating costs over the next twelve months with private placement of capital stock and loans.  


Share Exchange


In August 2009, ActionView consummated a share exchange with MatchFights, LLC. (“MatchFights”), a privately-held sports entertainment promoter.   As a result of the transaction, ActionView agreed to issue a total of 100,000 new shares of Preferred Stock in exchange for 100% of MatchFights ownership units.  Since ActionView was essentially a non-operating shell immediately prior to the share exchange, the Company has treated the transaction as a reverse merger for accounting purposes.  Accordingly, all financial information presented prior to the date of the share exchange is that of MatchFights exclusive of ActionView operations or assets.  In addition, shares held by ActionView shareholders at the time of the share exchange have been treated as shares issued by MatchFights.  The accompanying financial statements represent the consolidated operations of ActionView and MatchFights, collectively referred to hereafter as “ActionView” or “the Company.”


NOTE 2 – DUE TO RELATED PARTIES


As of September 30, 2009, the Company had received $12,000 from one of the directors of the Company for working capital purposes.  The amount has been treated as a short-term, non-interest bearing loan.

 




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