Attached files

file filename
EXCEL - IDEA: XBRL DOCUMENT - Sputnik Enterprises, IncFinancial_Report.xls
XML - IDEA: XBRL DOCUMENT - Sputnik Enterprises, IncR5.htm
XML - IDEA: XBRL DOCUMENT - Sputnik Enterprises, IncR2.htm
XML - IDEA: XBRL DOCUMENT - Sputnik Enterprises, IncR8.htm
XML - IDEA: XBRL DOCUMENT - Sputnik Enterprises, IncR9.htm
XML - IDEA: XBRL DOCUMENT - Sputnik Enterprises, IncR6.htm
XML - IDEA: XBRL DOCUMENT - Sputnik Enterprises, IncR1.htm
XML - IDEA: XBRL DOCUMENT - Sputnik Enterprises, IncR4.htm
XML - IDEA: XBRL DOCUMENT - Sputnik Enterprises, IncR3.htm
XML - IDEA: XBRL DOCUMENT - Sputnik Enterprises, IncR7.htm
XML - IDEA: XBRL DOCUMENT - Sputnik Enterprises, IncR16.htm
XML - IDEA: XBRL DOCUMENT - Sputnik Enterprises, IncR14.htm
XML - IDEA: XBRL DOCUMENT - Sputnik Enterprises, IncR10.htm
XML - IDEA: XBRL DOCUMENT - Sputnik Enterprises, IncR15.htm
XML - IDEA: XBRL DOCUMENT - Sputnik Enterprises, IncR13.htm
XML - IDEA: XBRL DOCUMENT - Sputnik Enterprises, IncR11.htm
EX-32.1 - CERTIFICATION - Sputnik Enterprises, Incspni_ex321.htm
EX-31.1 - CERTIFICATION - Sputnik Enterprises, Incspni_ex311.htm
XML - IDEA: XBRL DOCUMENT - Sputnik Enterprises, IncR12.htm


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-Q

x QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
For the quarterly period ended September 30, 2012
 
o TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT
 
For the transition period from _________ to _________.
 
Commission file number 000-52366

SPUTNIK ENTERPRISES, INC.
(Exact name of small business issuer as specified in its charter)

Nevada
 
52-2348956
(State or other jurisdiction of incorporation or organization)
 
(IRS Employer Identification No.)

3020 Bridgeway Suite 400
Sausalito, CA 94965
(Address of principal executive offices)

(415) 355-9500
(Issuer’s telephone number)

N/A
(Former name, former address and former fiscal year, if changed since last report)

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 the past 90 days. Yes x  No ¨

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 (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes  x     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 the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.

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 October 18, 2012 there were 295,278 shares issued and outstanding of the registrant’s common stock.
 


 
 

 
INDEX
 
     
Page
 
PART I. FINANCIAL INFORMATION      
         
Item 1.
Unaudited Financial Statements
    3  
           
 
Balance Sheets as of September 30, 2012 and December 31, 2011 (unaudited)
    3  
           
 
Statements of Operations for the Three and Nine Months Ended  September 30, 2012 and 2011, and from re-entering the development stage, February 29, 2008 to September 30, 2012 (unaudited)
    4  
           
 
Statements of Cash Flows for the Nine Months Ended  September 30, 2012 and 2011, and from re-entering the development stage, February 29, 2008 to September 30, 2012 (unaudited)
    5  
           
 
Notes to Unaudited Financial Statements
    6  
           
Item 2.
Management’s Discussion and Analysis or Plan of Operation
    9  
           
Item 3.
Quantitative and Qualitative Disclosure about Market Risk
    11  
           
Item 4.
Controls and Procedures
    11  
           
PART II. OTHER INFORMATION        
           
Item 1.
Legal Proceedings
    12  
           
Item 2.
Unregistered Sales of Equity Securities and Use of Proceeds
    12  
           
Item 3.
Defaults Upon Senior Securities
    12  
           
Item 4.
(Removed and Reserved).
    12  
           
Item 5.
Other Information
    12  
           
Item 6.
Exhibits
    13  
           
Signatures
    14  

 
2

 
 
PART I — FINANCIAL INFORMATION

Item 1. Financial Statements.

SPUTNIK ENTERPRISES, INC.
 (A DEVELOPMENT STAGE COMPANY)
BALANCE SHEETS
 (unaudited)

   
September 30,
2012
   
December 31,
2011
 
ASSETS
Current Assets
           
   Cash
  $ -     $ -  
      Total Current Assets
    -       -  
                 
      TOTAL ASSETS
  $ -     $ -  
                 
                 
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities
               
   Note payable
    25,000       25,000  
Total Current Liabilities
    25,000       25,000  
                 
Stockholders' Deficit
               
Common stock, $.001 par value, 50,000,000 shares authorized, 295,278 shares issued and outstanding in both periods
    295       295  
   Paid-in capital
    1,981,453       1,969,713  
   Accumulated deficit from development stage
    (93,885 )     (82,145 )
   Accumulated deficit from prior operations
    (1,912,863 )     (1,912,863 )
      Total Stockholders' Deficit
    (25,000 )     (25,000 )
                 
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT
  $ -     $ -  
 
 
3

 
 
SPUTNIK ENTERPRISES, INC.
 (A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF OPERATIONS
(unaudited)
 
   
Three Months Ended
September 30,
    Nine Months Ended
September 30,
   
Re-entering
Development Stage
(February 29, 2008) to
 
   
2012
   
2011
   
2012
   
2011
   
September 30, 2012
 
                               
Revenue
  $ -     $ -     $ -     $ -     $ -  
Cost of goods sold
    -       -       -       -       -  
Gross profit
    -       -       -       -       -  
                                         
Expenses:
                                       
General and administrative costs     2,989       2,470       10,240       8,645       86,385  
    Total operating expense
    2,989       2,470       10,240       8,645       86,385  
   Operating Loss
    (2,989 )     (2,470 )     (10,240 )     (8,645 )     (86,385 )
                                         
    Interest expense
    500       500       1500       1,500       7,500  
                                         
   NET LOSS
  $ (3,489 )   $ (2,970 )   $ (11,740 )   $ (10,145 )   $ (93,885 )
                                         
                                         
Basic and diluted loss per share
  $ ( 0.01 )   $ ( 0.01 )   $ ( 0.04 )   $ ( 0.03 )        
Weighted average shares outstanding
    295,278       295,278       295,278       295,278          
 
See notes to financial statements.
 
 
4

 
 
SPUTNIK ENTERPRISES, INC.
 (A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF CASH FLOWS
 (unaudited)

   
Nine Months Ended
September 30,
   
Re-entering Development Stage (February 29, 2008)
to September 30,
 
   
2012
   
2011
     2012  
Cash Flows from Operating Activities
                 
Net loss from operations
  $ (11,740 )   $ (10,145 )   $ (93,885 )
Adjustments to reconcile net loss to cash used in operating activities:
                       
Imputed interest on note payable
    1,500       1,500       8,499  
Note payable issued for legal expenses
    -       -       25,000  
Net cash used in operating activities
    (10,240 )     (8,645 )     (60,886 )
                         
Cash Flows from Investing Activities
                       
Net cash used in investing activities
    -       -       -  
                         
Cash Flows from Financing Activities
                       
Proceeds from advance from shareholder
    10,240       8,645       60,886  
Net cash provided by financing activities
    10,240       8,645       60,886  
                         
Net change in cash
    -       -       -  
Cash at beginning of period
    -       -       -  
Cash at end of period
  $ -     $ -     $ -  
              -          
Supplemental Disclosures of Cash Flow Information
                       
Cash paid for interest
  $ -     $ -     $ -  
Cash paid for income taxes
    -       -       -  
 
 
5

 

SPUTNIK ENTERPRISES, INC.
 (A DEVELOPMENT STAGE COMPANY)
Notes to Financial Statements
 (unaudited)

NOTE 1 - BASIS OF PRESENTATION

The accompanying unaudited interim financial statements of Sputnik Enterprises, Inc. have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with Sputnik’s audited 2011 annual financial statements and notes thereto filed with the SEC on form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the result of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements, which would substantially duplicate the disclosure required in Sputnik’s 2011 annual financial statements have been omitted.

Recent Accounting Pronouncements

In September 2011, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2011-08, Intangibles – Goodwill and Other (Topic 350): Testing Goodwill for Impairment. The guidance in ASU 2011-08 is intended to reduce complexity and costs by allowing an entity the option to make a qualitative evaluation about the likelihood of goodwill impairment to determine whether it should calculate the fair value of a reporting unit. The amendments also improve previous guidance by expanding upon the examples of events and circumstances that an entity should consider between annual impairment tests in determining whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Also, the amendments improve the examples of events and circumstances that an entity having a reporting unit with a zero or negative carrying amount should consider in determining whether to measure an impairment loss, if any, under the second step of the goodwill impairment test. The amendments in this ASU are effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. Early adoption is permitted, including for annual and interim goodwill impairment tests performed as of a date before September 15, 2011, if an entity’s financial statements for the most recent annual or interim period have not yet been issued. The adoption of this guidance is not expected to have a material impact on the Company’s financial position or results of operations.

In June 2011, the FASB issued ASU 2011-05, “Comprehensive Income (Topic 220): Presentation of Comprehensive Income”, which is effective for annual reporting periods beginning after December 15, 2011. ASU 2011-05 will become effective for the Company on December 1, 2012. This guidance eliminates the option to present the components of other comprehensive income as part of the statement of changes in stockholders’ equity. In addition, items of other comprehensive income that are reclassified to profit or loss are required to be presented separately on the face of the financial statements. This guidance is intended to increase the prominence of other comprehensive income in financial statements by requiring that such amounts be presented either in a single continuous statement of income and comprehensive income or separately in consecutive statements of income and comprehensive income. The adoption of ASU 2011-05 is not expected to have a material impact on our financial position or results of operations.

In May 2011, the FASB issued ASU 2011-04, “Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs”, which is effective for annual reporting periods beginning after December 15, 2011. This guidance amends certain accounting and disclosure requirements related to fair value measurements. Additional disclosure requirements in the update include: (1) for Level 3 fair value measurements, quantitative information about unobservable inputs used, a description of the valuation processes used by the entity, and a qualitative discussion about the sensitivity of the measurements to changes in the unobservable inputs; (2) for an entity’s use of a nonfinancial asset that is different from the asset’s highest and best use, the reason for the difference; (3) for financial instruments not measured at fair value but for which disclosure of fair value is required, the fair value hierarchy level in which the fair value measurements were determined; and (4) the disclosure of all transfers between Level 1 and Level 2 of the fair value hierarchy. ASU 2011-04 will become effective for the Company on December 1, 2012. We are currently evaluating ASU 2011-04 and have not yet determined the impact that adoption will have on our financial statements.
 
 
6

 

In April 2011, the FASB issued ASU 2011-02, “Receivables (Topic 310): A Creditor’s Determination of Whether a Restructuring is a Troubled Debt Restructuring”. This amendment explains which modifications constitute troubled debt restructurings (“TDR”). Under the new guidance, the definition of a troubled debt restructuring remains essentially unchanged, and for a loan modification to be considered a TDR, certain basic criteria must still be met. For public companies, the new guidance is effective for interim and annual periods beginning on or after June 15, 2011, and applies retrospectively to restructuring occurring on or after the beginning of the fiscal year of adoption. ASU 2011-02 has become effective for the Company on September 1, 2012. The Company does not believe that the guidance will have a material impact on its financial statements.

In December 2010, the FASB issued ASU 2010-29, “Business Combinations (Topic 805): Disclosure of supplementary pro forma information for business combinations.” This update changes the disclosure of pro forma information for business combinations. These changes clarify that if a public entity presents comparative financial statements, the entity should disclose revenue and earnings of the combined entity as though the business combination that occurred during the current year had occurred as of the beginning of the comparable prior annual reporting period only. Also, the existing supplemental pro forma disclosures were expanded to include a description of the nature and amount of material, nonrecurring pro forma adjustments directly attributable to the business combination included in the reported pro forma revenue and earnings. This ASU is effective for fiscal years beginning after December 15, 2010, and for interim periods within those fiscal years. We are currently evaluating the impact of this ASU; however, we do not expect the adoption of this ASU to have a material impact on our financial statements.

In December 2010, the FASB issued ASU 2010-28, “Intangible –Goodwill and Other (Topic 350): When to perform Step 2 of the goodwill impairment test for reporting units with zero or negative carrying amounts.” This update requires an entity to perform all steps in the test for a reporting unit whose carrying value is zero or negative if it is more likely than not (more than 50%) that a goodwill impairment exists based on qualitative factors, resulting in the elimination of an entity’s ability to assert that such a reporting unit’s goodwill is not impaired and additional testing is not necessary despite the existence of qualitative factors that indicate otherwise. This ASU is effective for fiscal years beginning after December 15, 2010, and for interim periods within those fiscal years. We are currently evaluating the impact of this ASU; however, we do not expect the adoption of this ASU to have a material impact on our financial statements.

NOTE 2 - GOING CONCERN

The accompanying financial statements have been prepared assuming that Sputnik will continue as a going concern. As shown in the accompanying financial statements, Sputnik suffered losses of $3,489 for the three months ended September 30, 2012 and has an accumulated deficit of $2,006,748 at September 30, 2012. These conditions raise substantial doubt as to Sputnik's ability to continue as a going concern. The financial statements do not include any adjustments that might be necessary if Sputnik is unable to continue as a going concern.

NOTE 3 – ACCOUNTING POLICIES

The Company is now considered a development stage enterprise pursuant to FASB Literature, which focuses on development stage companies. Users of the financial statements should be familiar with this Literature and its effect on the financial statements.
 
 
7

 

NOTE 4 – NOTE PAYABLE

On July 1, 2008, the Company issued a note in the amount of $25,000 to legal counsel, Michael T. Williams, for legal expenses. The note is due on demand and has no stated interest rate. Imputed interest in the amount of $500 and $1,000 calculated at 8% interest, is reflected as an increase to additional paid-in capital for the three and Nine Months ended September 30, 2012, respectively.

NOTE 5 – RELATED PARTY TRANSACTIONS
 
Sputnik, Inc., our majority shareholder, contributed $2,989 and $10,240 as additional capital contribution to fund operating expenses of Sputnik Enterprises, Inc. for the three- and nine-month periods ended September 30, 2012, respectively.

NOTE 6 – SUBSEQUENT EVENT

An Agreement was made on the first day of July 2012, by and between Sputnik Enterprises, Inc., a Nevada corporation (the “Company”), and Armada Sports & Entertainment, Inc., a Nevada corporation (“Armada”).

The parties agreed that the Company at Closing shall transfer to the Shareholders of Armada, 20,000,000 shares of common stock of Company, $.001 par value, in exchange for 100% of the issued and outstanding shares of Armada, such that Armada shall become a wholly owned subsidiary of the Company.

Closing is dependent upon the occurrence of certain conditions, including that Armada:
 
a)
Complete and deliver an acceptable audit of the books and records of Armada by a PCAOB member satisfactory to Company and which complies with the rules and regulations of the Securities and Exchange Commission.
   
b)
Deliver to the Company all additional information required to be disclosed in the Form 8-K required in connection with this transaction.

The Closing of the share exchange and the transactions contemplated by the Agreement shall be on or before August 31, 2012, subject to extension by Armada in its sole and absolute discretion.

The Agreement was filed as an exhibit to Form 8-K filed on July 3, 2012.

On October 29, 2012 this Agreement was terminated by mutual consent of the parties, and notice was filed as an exhibit to Form 8-K on the same date.
 
 
8

 

Item 2. Management’s Discussion and Analysis or Plan of Operation.
 
This 10−Q contains forward-looking statements. Our actual results could differ materially from those set forth as a result of general economic conditions and changes in the assumptions used in making such forward-looking statements. The following discussion and analysis of our financial condition and results of operations should be read together with the audited consolidated financial statements and accompanying notes and the other financial information appearing else where in this report. The analysis set forth below is provided pursuant to applicable Securities and Exchange Commission regulations and is not intended to serve as a basis for projections of future events. Refer also to "Cautionary Note Regarding Forward Looking Statements" and “Risk Factors” below.
 
The following discussion of our financial condition and results of operations as of September 30, 2012 should be read in conjunction with our financial statements and the related notes as provided under Item 1. With respect to the discussion within this Item 2, the terms “Sputnik,” “we,” “us,” and “our” refer to Sputnik Enterprises, Inc.

Overview

Sputnik, Inc. was incorporated in Delaware on September 27, 2001.  On February 10, 2005, we filed Articles of Conversion and new Articles of Incorporation in Nevada and became a Nevada corporation due to lower corporate filing fees.

On November 13, 2007, we formed a wholly owned subsidiary, Laika, Inc., and transferred all of our assets and liabilities to Laika. On February 29, 2008, we closed the sale of the stock of our wholly owned subsidiary, Laika, Inc. to AstroChimp, Inc., leaving us as a shell company. We also changed our name to Sputnik Enterprises on February 29, 2008.

An Agreement was made on the first day of July 2012, by and between Sputnik Enterprises, Inc., a Nevada corporation (the “Company”), and Armada Sports & Entertainment, Inc., a Nevada corporation (“Armada”).

The parties agreed that the Company at Closing shall transfer to the Shareholders of Armada, 20,000,000 shares of common stock of Company, $.001 par value, in exchange for 100% of the issued and outstanding shares of Armada, such that Armada shall become a wholly owned subsidiary of the Company.

Closing is dependent upon the occurrence of certain conditions, including that Armada:
 
a)
Complete and deliver an acceptable audit of the books and records of Armada by a PCAOB member satisfactory to Company and which complies with the rules and regulations of the Securities and Exchange Commission.
   
b)
Deliver to the Company all additional information required to be disclosed in the Form 8-K required in connection with this transaction.

The Closing of the share exchange and the transactions contemplated by the Agreement shall be on or before August 31, 2012, subject to extension by Armada in its sole and absolute discretion.

The Agreement was filed as an exhibit to Form 8-K filed on July 3, 2012.
 
 
9

 

On October 29, 2012 this Agreement was terminated by mutual consent of the parties, and notice was filed as an exhibit to Form 8-K on the same date.

There were no additional significant subsequent events through the date the financial statements were issued.

Results of Operations for the Three Months Ended September 30, 2012 Compared to the Three Months Ended September 30, 2011

Due to the fact that we were a shell company in both periods, we had revenues of $0 for the three months ended September 30, 2012, which was unchanged from our revenue of $0 for the three months ended September 30, 2011. Also related to our continuing status as a shell company, our cost of goods sold and gross profits were $0 in both periods.

Our net loss for the three months ended September 30, 2012 was $3,489, which was an increase of $519 from our net loss of $2,970 in the three-month period ended September 30, 2011. The increase is due to a difference in accounting expense and filing fees.

Results of Operations for the Nine Months Ended September 30, 2012 Compared to the Nine Months Ended September 30, 2011

Due to the fact that we were a shell company in both periods, we had revenues of $0 for the nine months ended September 30, 2012, which was unchanged from our revenue of $0 for the nine months ended September 30, 2011. Also related to our continuing status as a shell company, our cost of goods sold and gross profits were $0 in both periods.

Our net loss for the nine months ended September 30, 2012 was $11,740, which was an increase of $1,595 from our net loss of $10,145 in the six-month period ended September 30, 2011. The increase is due to a difference in accounting expense and filing fees.

Liquidity and Capital Resources

On February 29, 2008, we closed the sale of the stock of our wholly owned subsidiary, Laika, Inc. to AstroChimp, Inc., leaving us as a shell company.  All expenses will be funded as an advance by our officers as we have no assets, liabilities or source of revenues.
 
Cautionary Note About Forward-Looking Statements
 
The information contained in this Report includes some statements that are not purely historical and are “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, and as such, may involve risks and uncertainties. These forward-looking statements relate to, among other things, expectations of the business environment in which we operate, perceived opportunities in the market and statements regarding our mission and vision. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. You can generally identify forward-looking statements as statements containing the words “anticipates,” “believes,” “continue,” “could,” “estimates,” “expects,” “intends,” “may,” “might,” “plans,” “possible,” “potential,” “predicts,” “projects,” “seeks,” “should,” “will,” “would” and similar expressions, or the negatives of such terms, but the absence of these words does not mean that a statement is not forward-looking. For example, our forward-looking statements may include statements regarding:
 
 
10

 

·  
Our projected sales and profitability,
 
·  
Our growth strategies,
 
·  
Anticipated trends in our industry,
 
·  
Our future financing plans, and
 
·  
Our anticipated needs for working capital.
 
In light of these risks, uncertainties and assumptions, the future events, developments or results described by our forward-looking statements herein could turn to be materially different from those we discuss or imply.
  
Item 3.  Quantitative and Qualitative Disclosure about Market Risk

Not applicable.

Item 4. Controls and Procedures.
 
Evaluation of Disclosure Controls and Procedures
 
The Company maintains disclosure controls and procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act) that are designed to ensure that information required to be disclosed in the Company’s Securities Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms, and that such information is accumulated and communicated to the Company’s management, including its Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.
 
The Company’s management, with the participation of the Company’s Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of the Company’s disclosure controls and procedures as of the end of the period covered by this report. Based upon that evaluation, the Chief Executive Officer and the Chief Financial Officer have concluded that, as of the end of the period covered by this report, the Company’s disclosure controls and procedures were not effective.

Changes in Internal Control over Financial Reporting

There have not been any changes in the Company’s internal control over financial reporting (as such term is defined in Rule 13a-15(f) under the Securities Exchange Act) during the fiscal quarter ended September 30, 2012 that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.
 
 
11

 
 
PART II — OTHER INFORMATION
 
Item 1. Legal Proceedings.
 
None.
 
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
 
(a)
Unregistered Sales of Equity Securities.
 
The Registrant did not sell any unregistered securities during the three months ended September 30, 2012.
 
(b)
Use of Proceeds.
 
The Registrant did not sell any unregistered securities during the three months ended September 30, 2012.

Item 3. Defaults Upon Senior Securities
 
None.

Item 4.   Mine Safety Disclosures.

Not Applicable.
 
Item 5. Other Information.
 
Not applicable.
 
 
12

 
 
Item 6. Exhibits.
 
(a) Exhibits.
 
Exhibit
 
Item
     
31.1
 
Certification of Principal Executive and Principal Financial Officer pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002
     
32.1*
 
Certification of Principal Executive and Principal Financial Officer pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002
     
Exhibit 101 
 
Interactive data files formatted in XBRL (eXtensible Business Reporting Language): (i) the Consolidated Balance Sheets, (ii) the Consolidated Statements of Operations, (iii) the Consolidated Statements of Cash Flows, and (iv) the Notes to the Consolidated Financial Statements.*
 
101.INS**
XBRL Instance Document*
   
101.SCH**
XBRL Taxonomy Extension Schema Document*
   
101.CAL**
XBRL Taxonomy Extension Calculation Linkbase Document*
   
101.DEF**
XBRL Taxonomy Extension Definition Linkbase Document*
   
101.LAB**
XBRL Taxonomy Extension Label Linkbase Document*
   
101.PRE**
XBRL Taxonomy Extension Presentation Linkbase Document*
______________
*  This exhibit shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 of the Securities Exchange Act of 1934, whether made before or after the date hereof and irrespective of any general incorporation language in any filings.
 
** XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.
 
 
13

 

 SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
     
 
SPUTNIK ENTERPRISES,INC.
     
Date: November 2, 2012
By:  
/s/ David LaDuke  
   
(Authorized Officer and Principal Executive Officer)
 
In accordance with the 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.
 
SIGNATURE
 
NAME
 
TITLE
 
DATE
             
/s/ David LaDuke
 
David LaDuke
 
Principal Executive Officer, Principal Financial Officer and Principal Accounting officer
 
November 2, 2012
 
 
14

 
 
EXHIBIT INDEX
 
Exhibit
 
Item
     
31.1
 
Certification of Principal Executive and Principal Financial Officer pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002
     
32.1*
 
Certification of Principal Executive and Principal Financial Officer pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002
     
Exhibit 101 
 
Interactive data files formatted in XBRL (eXtensible Business Reporting Language): (i) the Consolidated Balance Sheets, (ii) the Consolidated Statements of Operations, (iii) the Consolidated Statements of Cash Flows, and (iv) the Notes to the Consolidated Financial Statements.*
 
101.INS**
XBRL Instance Document*
   
101.SCH**
XBRL Taxonomy Extension Schema Document*
   
101.CAL**
XBRL Taxonomy Extension Calculation Linkbase Document*
   
101.DEF**
XBRL Taxonomy Extension Definition Linkbase Document*
   
101.LAB**
XBRL Taxonomy Extension Label Linkbase Document*
   
101.PRE**
XBRL Taxonomy Extension Presentation Linkbase Document*
______________
*  This exhibit shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 of the Securities Exchange Act of 1934, whether made before or after the date hereof and irrespective of any general incorporation language in any filings.
 
** XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.
 
 
15