SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-K/A2

  x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Fiscal Year ended December 31, 2011

OR

  ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES AND EXCHANGE OF 1934

For the Transition Period From to

Commission File No. 33-20432

 

KIWIBOX.COM, INC.

(formerly known as Magnitude Information Systems, Inc.)

Exact Name of Registrant as Specified in its Charter

 

DELAWARE   75-2228828
State or Other Jurisdiction of   IRS Employer
Incorporation or Organization   Identification Number

 

330 W. 38th Street, #1602, New York, New York   10018
Address of Principal Executive Offices   Zip Code

 

(212) 239-8210

Registrants Telephone Number, Including Area Code

 

Securities Registered Pursuant to Section 12(b) of the Act:

NONE

 

Title of Each Class   Name of Each Exchange on Which Registered
NONE   NONE

 

Securities Registered pursuant to Section 12(g) of the Exchange Act:

Common Stock, par value $0.0001

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of 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 ¨

 

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. ¨

 

The Registrant’s revenues for the fiscal year ended December 31, 2011 were $599,615.

 

Common stock, par value $.0001 per share (“Common Stock”), was the only class of voting stock of the Registrant outstanding on April 5, 2012. Based on the closing price of the Common Stock on the OTC Electronic Bulletin Board as reported on April 5, 2012 the aggregate market value of the shares of the Common Stock held by persons other than officers, directors and persons known to the Registrant to be the beneficial owners (as the term is defined under the rules of the Securities and Exchange Commission) of more than five percent of the Common Stock on April 5, 2012, was approximately $9,375,661. By the foregoing statements, the Registrant does not intend to imply that any of the officers, directors, or beneficial owners are affiliates of the registrant or that the aggregate market value, as computed pursuant to rules of the Securities and Exchange Commission, is in any way indicative of the amount which could be obtained for such shares of Common Stock.

 

As of April 5, 2012 612,793,060 shares of Common Stock, $.0001 par value, were outstanding.

 

DOCUMENTS INCORPORATED BY REFERENCE: SEE EXHIBIT INDEX

 

 
 

 

EXPLANATORY NOTE

 

The sole purpose of this Amendment No. 2 to Kiwibox.Com, Inc. Annual Report on Form 10-K for the year ended December 31, 2011, filed with the Securities and Exchange Commission (the “Commission”) on April 16, 2012, and Amendment No. 1, filed with the Commission on April 17, 2012, ( collectively, the “Form 10-K”), is to correct the date of the auditor opinion letter from April 16, 2011, to the correct date of April 16, 2012. No other changes have been made to the Form 10-K. This Amendment No. 2 to the Form 10-K speaks as of the original filing date of the Form 10-K, does not reflect events that may have occurred subsequent to the original filing date and does not modify or update in any way disclosures made in the original Form 10-K.

 

 

 

 

 
 

 

 

 

 

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 

 

To the Board of Directors and

Stockholders of Kiwibox.Com, Inc. and Subsidiary

 

We have audited the accompanying balance sheets of Kiwibox.Com, Inc. and Subsidiary as of December 31, 2011 and 2010, and the related statements of operations, stockholders’ equity (impairment), and cash flows for each of the years in the two-year period ended December 31, 2011. Kiwibox.Com, Inc.’s management is responsible for these financial statements. Our responsibility is to express an opinion on these financial statements based on our audits.

 

We conducted our audits 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. The company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide 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 Kiwibox.Com, Inc. and Subsidiary as of December 31, 2011 and 2010, and the results of its operations and its cash flows for each of the years in the two-year period ended December 31, 2011 in conformity with accounting principles generally accepted in the United States of America.

 

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As more fully discussed in Note 2 to the financial statements, the Company has suffered losses from operations and has a working capital deficiency as of December 31, 2011. These conditions raise substantial doubt about its ability to continue as a going concern. Management’s plans in regard to these matters are also described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

 

/s/ Rosenberg Rich Baker Berman & Company

 

Somerset, New Jersey

April 16, 2012

  

 

 

 

 
 

 

 

SIGNATURES

 

In accordance with Section 13 or 15(d) of the Securities Exchange Act, the Registrant has caused this Amendment No. 2 to the Report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

KIWIBOX.COM, INC.
       
By: /s/ Andre Scholz   Date: April 19, 2012
  Andre Scholz
  President and Chief Executive Officer
  (Principal Executive Officer),
  Director
       
By: /s/ Craig Cody   Date: April 19, 2012
  Craig S. Cody
  Secretary, Chief Financial Officer
  (Principal Financial Officer)

 

In accordance with the requirements of the Securities Exchange Act, this Report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

 

Name   Date  
       
//s/ Joseph J. Tomasek     April 19, 2012  
Joseph J. Tomasek, Director        
         
/s/ Andre Scholz     April 19, 2012  
Andre Scholz, Director