Attached files
file | filename |
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EX-31.1 - SSI INTERNATIONAL LTD | ex31_1.htm |
EX-31.2 - SSI INTERNATIONAL LTD | ex31_2.htm |
EX-32 - SSI INTERNATIONAL LTD | ex32_1.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 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 July 31,
2009
|
|
or
|
|
o
|
TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF
1934
|
For the
transition period from _____ to _____
Commission
file number: ___________
Rider Exploration,
Inc.
(Exact
name of Registrant as specified in Its charter)
Nevada
|
26-1094531
|
|||
(State
or other jurisdiction of
incorporation
or organization)
|
(IRS
Employer
Identification
No.)
|
955
South Virginia Ste. 116, Reno, NV 89502.
|
(Address
of principal executive offices)
|
775-284-0370
|
(Issuer’s
telephone number)
|
Not
Applicable
|
(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 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 o
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 during the preceding
12 months (or for such shorter period that the registrant was required to submit
and post such files). Yes o No o
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 o
|
Accelerated
filer o
|
Non-accelerated
filer o
|
Smaller
reporting company x
|
(Do
not check if a smaller reporting
company)
|
Indicate
by check mark whether the registrant is a shell company (as defined in Rule
12b-2 of the Exchange Act). Yes x No o
As of
July 31, 2009, there were 2,140,000 common shares outstanding.
TABLE OF CONTENTS | ||
Page
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PART I – FINANCIAL
INFORMATION
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3
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5
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7
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PART II – OTHER
INFORMATION
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8
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8
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8
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8
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9
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9
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PART
I - FINANCIAL INFORMATION
Item
1. Financial Statements
Our
unaudited financial statements included in this Form 10-Q are as
follows:
|
|
These
unaudited financial statements have been prepared in accordance with accounting
principles generally accepted in the United States of America for interim
financial information and the SEC instructions to Form 10-Q. In the
opinion of management, all adjustments considered necessary for a fair
presentation have been included. Operating results for the interim
period ended July 31, 2009 are not necessarily indicative of the results that
can be expected for the full year.
3
RIDER
EXPLORATION, INC.
(An
Exploration Stage Company)
FINANCIAL
STATEMENTS
July 31,
2009 and October 31, 2008
4
RIDER
EXPLORATION, INC.
|
||||||||
(An
Exploration Stage Company)
|
||||||||
Balance
Sheets
|
||||||||
ASSETS
|
||||||||
July
31,
|
October
31,
|
|||||||
2009
|
2008
|
|||||||
(unaudited)
|
|
|||||||
CURRENT
ASSETS
|
||||||||
Cash
|
$ | 1,708 | $ | 26,553 | ||||
Total
Current Assets
|
1,708 | 26,553 | ||||||
TOTAL
ASSETS
|
$ | 1,708 | $ | 26,553 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY
(DEFICIT)
|
||||||||
CURRENT
LIABILITIES
|
||||||||
Accounts
payable
|
$ | 3,899 | $ | 441 | ||||
Total
Current Liabilities
|
3,899 | 441 | ||||||
STOCKHOLDERS'
EQUITY (DEFICIT)
|
||||||||
Common
stock: $0.001 par value, 50,000,000 shares
|
||||||||
authorized;
2,140,000 and no shares issued and outstanding
|
2,140 | 2,140 | ||||||
Addiitional
paid-in capital
|
31,360 | 31,360 | ||||||
Stock
subscriptions receivable
|
- | (5,500 | ) | |||||
Deficit
accumulated during the exploration stage
|
(35,691 | ) | (1,888 | ) | ||||
Total
Stockholders' Equity (Deficit)
|
(2,191 | ) | 26,112 | |||||
TOTAL
LIABILITIES AND STOCKHOLDERS'
|
||||||||
EQUITY
(DEFICIT)
|
$ | 1,708 | $ | 26,553 |
The
accompanying notes are an integral part of these
financial statements
F-1
RIDER
EXPLORATION, INC.
|
||||||||||||||||||||
(An
Exploration Stage Company)
|
||||||||||||||||||||
Statements
of Operations
|
||||||||||||||||||||
(unaudited)
|
||||||||||||||||||||
|
From
Inception
|
|||||||||||||||||||
on
May 17,
|
||||||||||||||||||||
For
the Three Months Ended
|
For
the Nine Months Ended
|
2007
Through
|
||||||||||||||||||
July
31,
|
July
31,
|
July
31,
|
||||||||||||||||||
2009
|
2008
|
2009
|
2008
|
2009
|
||||||||||||||||
REVENUES
|
$ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
EXPENSES
|
||||||||||||||||||||
General
and administrative
|
3,428 | 441 | 33,902 | 441 | 35,855 | |||||||||||||||
Total
Expenses
|
3,428 | 441 | 33,902 | 441 | 35,855 | |||||||||||||||
LOSS
FROM OPERATIONS
|
(3,428 | ) | (441 | ) | (33,902 | ) | (441 | ) | (35,855 | ) | ||||||||||
OTHER
INCOME (EXPENSES)
|
||||||||||||||||||||
Interest
income
|
- | - | 99 | - | 164 | |||||||||||||||
Total
Other Expenses
|
- | - | 99 | - | 164 | |||||||||||||||
LOSS
BEFORE INCOME TAXES
|
(3,428 | ) | (441 | ) | (33,803 | ) | (441 | ) | (35,691 | ) | ||||||||||
PROVISION
FOR INCOME TAXES
|
- | - | - | - | - | |||||||||||||||
NET
LOSS
|
$ | (3,428 | ) | $ | (441 | ) | $ | (33,803 | ) | $ | (441 | ) | $ | (35,691 | ) | |||||
BASIC
LOSS PER SHARE
|
$ | (0.00 | ) | $ | 0.00 | $ | (0.02 | ) | $ | 0.00 | ||||||||||
WEIGHTED
AVERAGE SHARES OUTSTANDING
|
2,140,000 | 0 | 2,140,000 | 0 |
The
accompanying notes are an integral part of these
financial statements
F-2
RIDER
EXPLORATION, INC.
|
||||||||||||||||||||||||
(An
Exploration Stage Company)
|
||||||||||||||||||||||||
Statements
of Stockholders' Equity (Deficit)
|
||||||||||||||||||||||||
|
Deficit
|
|||||||||||||||||||||||
|
Accumulated
|
|||||||||||||||||||||||
Additional
|
Stock
|
During
the
|
Total
|
|||||||||||||||||||||
Common
Stock
|
Paid-in
|
Subscription
|
Development
|
Stockholders'
|
||||||||||||||||||||
Shares
|
Amount
|
Capital
|
Receivable
|
Stage
|
Equity
|
|||||||||||||||||||
Balance
at inception, May 17, 2007
|
- | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||||
Net
loss from inception on May 17,
|
||||||||||||||||||||||||
2007
through October 31, 2007
|
- | - | - | - | - | - | ||||||||||||||||||
Balance,
October 31, 2007
|
- | - | - | - | - | - | ||||||||||||||||||
Common
stock issued for cash at $0.001
|
||||||||||||||||||||||||
per
share in September 2008
|
1,500,000 | 1,500 | - | - | - | 1,500 | ||||||||||||||||||
Common
stock issued for cash at $0.05
|
||||||||||||||||||||||||
per
share in September 2008
|
370,000 | 370 | 18,130 | - | - | 18,500 | ||||||||||||||||||
Common
stock issued for cash at $0.05
|
||||||||||||||||||||||||
per
share in October 2008
|
270,000 | 270 | 13,230 | (5,500 | ) | - | 8,000 | |||||||||||||||||
Net
loss for the year ended
|
||||||||||||||||||||||||
October
31, 2008
|
- | - | - | - | (1,888 | ) | (1,888 | ) | ||||||||||||||||
Balance,
October 31, 2008
|
2,140,000 | 2,140 | 31,360 | (5,500 | ) | (1,888 | ) | 26,112 | ||||||||||||||||
Stock
subscriptions received
|
- | - | - | 5,500 | - | 5,500 | ||||||||||||||||||
Net
loss for the nine months ended
|
||||||||||||||||||||||||
July
31, 2009 (unaudited)
|
- | - | - | - | (33,803 | ) | (33,803 | ) | ||||||||||||||||
Balance,
July 31, 2009 (unaudited)
|
2,140,000 | 2,140 | 31,360 | - | (35,691 | ) | (2,191 | ) |
The
accompanying notes are an integral part of these
financial statements
F-3
RIDER
EXPLORATION, INC.
|
||||||||||||
(An
Exploration Stage Company)
|
||||||||||||
Statements
of Cash Flows
|
||||||||||||
(unaudited)
|
||||||||||||
From
Inception
|
||||||||||||
on
May 17,
|
||||||||||||
For
the Nine Months Ended
|
2007
Through
|
|||||||||||
July
31,
|
July
31,
|
|||||||||||
2009
|
2008
|
2009
|
||||||||||
OPERATING
ACTIVITIES
|
||||||||||||
Net
loss
|
$ | (33,803 | ) | $ | (441 | ) | $ | (35,691 | ) | |||
Adjustments
to reconcile net loss to net cash
|
||||||||||||
used
by operating activities:
|
||||||||||||
Contributed
capital
|
- | - | - | |||||||||
Changes
in operating assets and liabilities
|
||||||||||||
Increase
(decrease) in accounts payable
|
3,458 | 441 | 3,899 | |||||||||
Net
Cash Used in
|
||||||||||||
Operating
Activities
|
(30,345 | ) | - | (31,792 | ) | |||||||
INVESTING
ACTIVITIES
|
- | - | - | |||||||||
FINANCING
ACTIVITIES
|
||||||||||||
Common
stock issued for cash
|
5,500 | - | 33,500 | |||||||||
|
||||||||||||
Net
Cash Provided by
|
||||||||||||
Financing
Activities
|
5,500 | - | 33,500 | |||||||||
NET
DECREASE IN CASH
|
(24,845 | ) | - | 1,708 | ||||||||
CASH
AT BEGINNING OF PERIOD
|
26,553 | - | - | |||||||||
CASH
AT END OF PERIOD
|
$ | 1,708 | $ | - | $ | 1,708 | ||||||
SUPPLEMENTAL
DISCLOSURES OF
|
||||||||||||
CASH
FLOW INFORMATION
|
||||||||||||
CASH
PAID FOR:
|
||||||||||||
Interest
|
$ | - | $ | - | $ | - | ||||||
Income
Taxes
|
$ | - | $ | - | $ | - |
The
accompanying notes are an integral part of these
financial statements
F-4
NOTE
1 - CONDENSED FINANCIAL STATEMENTS
The
accompanying financial statements have been prepared by the Company without
audit. In the opinion of management, all adjustments (which include
only normal recurring adjustments) necessary to present fairly the financial
position, results of operations, and cash flows at July 31, 2009, and for all
periods presented herein, have been made.
Certain
information and footnote disclosures normally included in financial statements
prepared in accordance with accounting principles generally accepted in the
United States of America have been condensed or omitted. It is
suggested that these condensed financial statements be read in conjunction with
the financial statements and notes thereto included in the Company's October 31,
2008 audited financial statements. The results of operations for the
periods ended July 31, 2009 and 2008 are not necessarily indicative of the
operating results for the full years.
NOTE
2 - GOING CONCERN
The
Company's financial statements are prepared using generally accepted accounting
principles in the United States of America applicable to a going concern which
contemplates the realization of assets and liquidation of liabilities in the
normal course of business. The Company has not yet
Established
an ongoing source of revenues sufficient to cover its operating costs and allow
it to continue as a going concern. The ability of the Company to continue as a
going concern is dependent on the Company obtaining adequate capital to fund
operating losses until it becomes profitable. If the Company is unable to obtain
adequate capital, it could be forced to cease operations.
In order
to continue as a going concern, the Company will need, among other things,
additional capital resources. Management's plan is to obtain such resources for
the Company by obtaining capital from management and significant shareholders
sufficient to meet its minimal operating expenses and seeking equity and/or debt
financing. However management cannot provide any assurances that the Company
will be successful in accomplishing any of its plans.
The
ability of the Company to continue as a going concern is dependent upon its
ability to successfully accomplish the plans described in the preceding
paragraph and eventually secure other sources of financing and attain profitable
operations. The accompanying financial statements do not include any adjustments
that might be necessary if the Company is unable to continue as a going
concern.
NOTE 3 –
SIGNIFICANT ACCOUNTING POLICIES
Use of
Estimates
The
preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect the 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 could differ from those
estimates.
F-5
NOTE 3 –
SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Recent Accounting
Pronouncements
In May
2009, the FASB issued FAS 165, “Subsequent Events”. This
pronouncement establishes standards for accounting for and disclosing subsequent
events (events which occur after the balance sheet date but before financial
statements are issued or are available to be issued). FAS 165 requires and
entity to disclose the date subsequent events were evaluated and whether that
evaluation took place on the date financial statements were issued or were
available to be issued. It is effective for interim and annual periods ending
after June 15, 2009. The
adoption of FAS 165 did not have a material impact on the Company’s
financial condition or results of operation.
In June
2009, the FASB issued FAS 166, “Accounting for Transfers of Financial Assets” an
amendment of FAS 140. FAS 140 is intended to improve the relevance,
representational faithfulness, and comparability of the information that a
reporting entity provides in its financial statements about a transfer of
financial assets: the effects of a transfer on its financial position, financial
performance , and cash flows: and a transferor’s continuing involvement, if any,
in transferred financial assets. This statement must be applied as of the
beginning of each reporting entity’s first annual reporting period that begins
after November 15, 2009. The Company does not expect the adoption of FAS 166 to
have an impact on the Company’s results of operations, financial condition or
cash flows.
In June
2009, the FASB issued FAS 167, “Amendments to FASB Interpretation No. 46(R)”.
FAS 167 is intended to (1) address the effects on certain provisions of FASB
Interpretation No. 46 (revised December 2003), Consolidation of Variable Interest
Entities, as a result of the elimination of the qualifying
special-purpose entity concept in FAS 166, and (2) constituent concerns about
the application of certain key provisions of Interpretation 46(R), including
those in which the accounting and disclosures under the Interpretation do not
always provided timely and useful information about an enterprise’s involvement
in a variable interest entity. This statement must be applied as of the
beginning of each reporting entity’s first annual reporting period that begins
after November 15, 2009. The Company does not expect the adoption of FAS 167 to
have an impact on the Company’s results of operations, financial condition or
cash flows.
In June
2009, the FASB issued FAS 168, “The FASB Accounting Standards Codification and
the Hierarchy of Generally Accepted Accounting Principles”. FAS 168 will become
the source of authoritative U.S. generally accepted accounting principles (GAAP)
recognized by the FASB to be applied by nongovernmental entities. Rules and
interpretive releases of the Securities and Exchange Commission (SEC) under
authority of federal securities laws are also sources of authoritative GAAP for
SEC registrants. On the effective date of this Statement, the Codification will
supersede all then-existing non-SEC accounting and reporting standards. All
other nongrandfathered non-SEC accounting literature not included in the
Codification will become nonauthoritative. This statement is effective for
financial statements issued for interim and annual periods ending after
September 15, 2009.The Company does not expect the adoption of FAS 168 to have
an impact on the Company’s results of operations, financial condition or cash
flows.
F-6
Item
2. Management’s Discussion and
Analysis or Plan of Operation
Forward-Looking
Statements
Certain
statements, other than purely historical information, including estimates,
projections, statements relating to our business plans, objectives, and expected
operating results, and the assumptions upon which those statements are based,
are “forward-looking statements” within the meaning of the Private Securities
Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of
1934. These forward-looking statements generally are identified
by the words “believes,” “project,” “expects,” “anticipates,” “estimates,”
“intends,” “strategy,” “plan,” “may,” “will,” “would,” “will be,” “will
continue,” “will likely result,” and similar expressions. We intend
such forward-looking statements to be covered by the safe-harbor provisions for
forward-looking statements contained in the Private Securities Litigation Reform
Act of 1995, and are including this statement for purposes of complying with
those safe-harbor provisions. Forward-looking statements are based on
current expectations and assumptions that are subject to risks and uncertainties
which may cause actual results to differ materially from the forward-looking
statements. Our ability to predict results or the actual effect of future plans
or strategies is inherently uncertain. Factors which could have a
material adverse affect on our operations and future prospects on a consolidated
basis include, but are not limited to: changes in economic conditions,
legislative/regulatory changes, availability of capital, interest rates,
competition, and generally accepted accounting principles. These risks and
uncertainties should also be considered in evaluating forward-looking statements
and undue reliance should not be placed on such statements. We
undertake no obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events or
otherwise. Further information concerning our business, including
additional factors that could materially affect our financial results, is
included herein and in our other filings with the SEC.
Overview
We are an
exploration stage company that intends to engage in the exploration of mineral
properties. We were incorporated on May 17, 2007, under the laws of
the State of Nevada. On June 1, 2007, we acquired an option to purchase a 100%
interest in the Sallus Creek mineral claims, located in the Lillooet Mining
District of the Province of British Columbia. Exploration of the
Sallus Creek mineral claims is required before a final determination as to their
viability can be made. Our option on this property is currently
unexercised. In the event that we do not exercise our option, we will
have no interest in the Sallus Creek mineral claims and will not be entitled to
receive back any monies spent to maintain the option.
Plan
of Operation
Our plan
of operations is to proceed with the exploration of the Sallus Creek mineral
claims to determine whether there are commercially exploitable reserves of
copper, molybdenum, and other metallic minerals. We have entered into
a Mining Option Agreement regarding the Sallus Creek mineral claims and intend
to proceed with the initial exploration program as recommended by our consulting
geologist.
Our total
expenditures over the next twelve months, excluding costs associated with being
a public company, are anticipated to be approximately $60,000 as we undertake
Phase I exploration. Specifically, we expect to incur approximately $25,000 in
connection with the commencement of Phase I of our recommended geological work
program, as follows:
5
Phase
I
|
Exploration
Expenditure
|
Geological
supervision
|
$7,500
|
Helper
|
2,500
|
Vehicle
|
1,250
|
Food,
lodging, or camp costs
|
1,250
|
Field,
camp supplies
|
500
|
Helicopter
|
6,250
|
Samples
|
1,875
|
Mob
and Demob
|
500
|
Cell
Phone/Radio
|
100
|
Reports
and Drafting
|
2,000
|
Reclamation
Bond
|
0
|
Subtotal
(Rounded)
|
24,000
|
GST
at 6%
|
1,400
|
Contingency
10%
|
2,400
|
Total
Phase I (Rounded)
|
$28,000
|
In US (at
01/31/09)
|
$25,000
|
We will
also expend C$10,000 in connection with the Option Agreement and monies due to
Mr. McClaren prior to December 31, 2009, or approximately $9,100. We had
negative working capital in the amount of $(2,191) as of July 31, 2009. This
figure is insufficient to cover our anticipated expenditures in the next twelve
months. However, our working capital, along with our plan to raise equity
financing in the amount of $50,000 to $100,000, should be enough to cover the
approximately $60,000 in anticipated expenditures in the next twelve months. Any
remaining monies will be carried forward to begin Phase II. Because of the
uncertainties inherent in foreign currency exchange rates, there are
uncertainties in our operational costs. Our accounting is in US$ while our
Option Agreement payments and other expenses generally require payment in
CAN$.
In the
event the results of our initial exploration program prove not to be
sufficiently positive to proceed with further exploration on the Sallus Creek
mineral claims, we intend to seek out and acquire interests in other North
American mineral exploration properties, which, in the opinion of our consulting
geologist, offer attractive mineral exploration opportunities. If we
are unable locate and acquire such prospects, we may be forced to seek other
business opportunities. Presently, we have not given any
consideration to the acquisition of other exploration properties
Purchase
of Significant Equipment
We do not
intend to purchase any significant equipment over the next twelve
months.
Employees
We have
no employees other than our president and CEO, Mr. Friberg, and our Secretary
and Treasurer, Mr. Decker. We intend to conduct our business largely through
agreements with consultants and other independent third party
vendors.
6
Results
of Operations for the three months ended July 31, 2009 and period from Inception
(May 17, 2007) to July 31, 2009
We did
not earn any revenues from inception through the period ending July 31, 2009. We
do not anticipate earning revenues until such time that we are able to locate
and exploit commercial reserves of copper, , molybdenum, and other metallic
minerals. We are presently in the exploration stage of our business and we can
provide no assurance that we will discover commercially exploitable levels of
mineral resources on the Sallus Creek mineral properties, or if such resources
are discovered, that we will enter into commercial production.
We
incurred operating expenses in the amount of $3,428 for the three months ended
July 31, 2009, and $35,855 from our inception on May 17, 2007 to July 31, 2009.
The operating expenses for the three months ended July 31, 2009 included general
and administrative expenses in the amount of $3,428.The operating expenses for
the period from our inception on May 17, 2007 to July 31, 2009 included mining
property expenses in the amount of $5,000, and general and administrative
expenses in the amount of $30,855.
We
anticipate our operating expenses will increase as we undertake our plan of
operations. The increase will be attributable to undertaking the additional
phases of our geological exploration program and the professional fees
associated with our becoming a reporting company under the Securities Exchange
Act of 1934.
We
incurred a net loss of $3,428 for the three months ended July 31, 2009 and a net
loss of $35,691 from our inception on May 17, 2007 through period ending July
31, 2009. Our losses for all periods are attributable to operating expenses and
our lack of revenue.
Liquidity
and Capital Resources
We had
cash of $1,708 as our only current asset as of July 31, 2009. We had current
liabilities of $ 3,899 as of July 31, 2009. We therefore had working capital of
$(2,191) as of July 31, 2009.
We have
not attained profitable operations and are dependent upon obtaining financing to
pursue exploration activities. For these reasons our auditors stated in their
report that they have substantial doubt we will be able to continue as a going
concern.
Off
Balance Sheet Arrangements
As of
July 31, 2009, there were no off balance sheet arrangements.
Going
Concern
We have
not attained profitable operations and are dependent upon obtaining financing to
pursue exploration activities. For these reasons our auditors stated
in their report that they have substantial doubt we will be able to continue as
a going concern.
Item
3. Controls and
Procedures
We
carried out an evaluation of the effectiveness of the design and operation of
our disclosure controls and procedures (as defined in Exchange Act Rules
13a-15(e) and 15d-15(e)) as of July 31, 2009. This evaluation was
carried out under the supervision and with the participation of our Chief
Executive Officer and our Chief Financial Officer, Mr. Steve Friberg. Based upon
that evaluation, our Chief Executive Offic,er ,and Chief Financial Officer
concluded that, as of July 31, 2009, our disclosure controls and procedures are
effective. There have been no changes in our internal controls over
financial reporting during the quarter ended July 31, 2009.
7
Disclosure
controls and procedures are controls and other procedures that are designed to
ensure that information required to be disclosed in our reports filed or
submitted under the Exchange Act are 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 in our
reports filed under the Exchange Act is accumulated and communicated to
management, including our Chief Executive Officer and Chief Financial Officer,
to allow timely decisions regarding required disclosure.
Limitations on the
Effectiveness of Internal Controls
Our
management does not expect that our disclosure controls and procedures or our
internal control over financial reporting will necessarily prevent all fraud and
material error. Our disclosure controls and procedures are designed to provide
reasonable assurance of achieving our objectives and our Chief Executive Officer
and Chief Financial Officer concluded that our disclosure controls and
procedures are effective at that reasonable assurance level. Further,
the design of a control system must reflect the fact that there are resource
constraints, and the benefits of controls must be considered relative to their
costs. Because of the inherent limitations in all control systems, no evaluation
of controls can provide absolute assurance that all control issues and instances
of fraud, if any, within the Company have been detected. These inherent
limitations include the realities that judgments in decision-making can be
faulty, and that breakdowns can occur because of simple error or mistake.
Additionally, controls can be circumvented by the individual acts of some
persons, by collusion of two or more people, or by management override of the
internal control. The design of any system of controls also is based in part
upon certain assumptions about the likelihood of future events, and there can be
no assurance that any design will succeed in achieving its stated goals under
all potential future conditions. Over time, control may become inadequate
because of changes in conditions, or the degree of compliance with the policies
or procedures may deteriorate.
PART
II – OTHER INFORMATION
Item
1. Legal Proceedings
We are
not a party to any pending legal proceeding. We are not aware of any pending
legal proceeding to which any of our officers, directors, or any beneficial
holders of 5% or more of our voting securities are adverse to us or have a
material interest adverse to us.
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
No
matters have been submitted to our security holders for a vote, through the
solicitation of proxies or otherwise, during the quarterly period ended July 31,
2009.
8
Item
5. Other Information
None
Item
6. Exhibits
Exhibit
Number
|
Description
of Exhibit
|
31.1
|
Certification
of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted
pursuant to Section 302 of the Sarbanes-Oxley Act of
2002
|
31.2
|
Certification
of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted
pursuant to Section 302 of the Sarbanes-Oxley Act of
2002
|
32.1
|
Certification
of Chief Executive Officer and Chief Financial Officer pursuant to 18
U.S.C. Section 1350, as adopted pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002
|
SIGNATURES
In
accordance with the requirements of the Securities and Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Rider
Exploration, Inc.
|
||||
Date:
|
November
16, 2009
|
|
||
By:
|
/s/ STEVE
FRIBERG
|
|||
Steve
Friberg
Title: Chief
Executive Officer and
Director
|
9