Attached files
| file | filename |
|---|---|
| EX-31.1 - EXHIBIT 31.1 - Imerjn Inc. | ex31_1.htm |
| EX-32.1 - EXHIBIT 32.1 - Imerjn Inc. | ex32_1.htm |
| UNITED STATES | |
| SECURITIES AND EXCHANGE COMMISSION | |
| Washington, D.C. 20549 | |
|
|
|
| FORM 10-Q | |
|
|
|
|
x
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
|
|
|
EXCHANGE ACT OF 1934
|
|
FOR THE QUARTERLY PERIOD ENDED October 31, 2013
|
|
|
|
|
|
OR
|
|
|
o
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
|
|
|
EXCHANGE ACT OF 1934
|
Commission file number 333-169280
Xumanii International Holdings Corp.
(Exact name of registrant as specified in its charter)NEVADA
(State or other jurisdiction of incorporation or organization)
9550 South Eastern Ave. Suite 253-A86
Las Vegas, Nevada 89123
(Address of principal executive offices, including zip code.)
800-416-5934 (Registrant’s telephone number, including area code)
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 last 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 (Section 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,” “non-accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.
|
Large accelerated
filer
|
o
|
Accelerated filer
|
o
|
|
Non-accelerated filer
|
o
|
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 o NO x
State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date: December 16, 2013, the registrant had 271,610,552 common shares issued and outstanding.
Xumanii International Holdings Corp.
FORM 10-Q
October 31, 2013
INDEX
PART I-- FINANCIAL INFORMATION
| 4 | ||
| 5 | ||
| 8 | ||
| 8 |
PART II-- OTHER INFORMATION
| 9 | ||
| 9 | ||
| 9 | ||
| 9 | ||
| 9 | ||
| 9 | ||
| 10 |
3
PART I – FINANCIAL INFORMATION
Xumanii International Holdings Corp.
(formerly Xumanii Inc.)
(A Development Stage Company)October 31, 2013
|
FINANCIAL STATEMENTS
|
|
|
F-1
|
|
|
F-2
|
|
|
F-3
|
|
|
F-4
|
4
|
(formerly Xumanii, Inc.)
|
||||
|
(A Development Stage Company)
|
||||
|
Balance Sheets
|
||||
|
(Unaudited)
|
|
October 31, 2013
|
July 31, 2013
|
|||||||
|
ASSETS
|
||||||||
|
Current assets
|
||||||||
|
Cash
|
$ | 118,081 | $ | 38,170 | ||||
|
Prepaid expenses
|
12,276 | 12,276 | ||||||
|
Total current assets
|
130,357 | 50,446 | ||||||
|
Fixed assets, net
|
- | 52,781 | ||||||
|
Total assets
|
$ | 130,357 | $ | 103,227 | ||||
|
LIABILITIES AND STOCKHOLDERS' DEFICIT
|
||||||||
|
Current liabilities
|
||||||||
|
Accounts payable & accrued liabilities
|
$ | 116,212 | $ | 49,580 | ||||
|
Advances from related parties
|
78,355 | 48,250 | ||||||
|
Loans payable
|
1,145,000 | 1,070,699 | ||||||
|
Note payable
|
642,242 | 642,242 | ||||||
|
Total current liabilities
|
1,981,809 | 1,810,771 | ||||||
|
Commitment and contingencies
|
||||||||
|
Stockholders' deficit
|
||||||||
|
Series A preferred stock, $0.00001 par value; 100,000,000 shares authorized;
|
||||||||
|
none issued and outstanding
|
- | - | ||||||
|
Series B preferred stock, $0.00001 par value; 100,000,000 shares authorized;
|
||||||||
|
none issued and outstanding
|
- | - | ||||||
|
Common stock, $0.00001 par value; 450,000,000 shares authorized;
|
||||||||
|
271,610,552 shares issued and outstanding.
|
2,716 | 2,716 | ||||||
|
Additional paid-in capital
|
102,465 | 81,065 | ||||||
|
Accumulated deficit
|
(1,956,633 | ) | (1,791,325 | ) | ||||
|
Total stockholders' deficit
|
(1,851,452 | ) | (1,707,544 | ) | ||||
|
Total liabilities and stockholders' deficit
|
$ | 130,357 | $ | 103,227 | ||||
The accompanying notes are an integral part of these financial statements.
F-1
|
(formerly Xumanii, Inc.)
|
|||||
|
(A Development Stage Company)
|
|||||
|
Statements of Operations
|
|||||
|
(Unaudited)
|
|
For the Period
|
||||||||||||
|
For the Three Months
|
For the Three Months
|
from May 6, 2010
|
||||||||||
|
Ended October 31,
|
Ended October 31,
|
(inception) to
|
||||||||||
|
2013
|
2012
|
October 31, 2013
|
||||||||||
|
Operating expenses:
|
||||||||||||
|
General and administrative
|
$ | 27,364 | $ | 157,891.00 | $ | 1,176,070.00 | ||||||
|
Consulting
|
46,000 | 60,404 | 391,253 | |||||||||
|
Legal and accounting
|
8,000 | 13,680 | 241,016 | |||||||||
|
Transfer agent
|
1,590 | 850 | 5,100 | |||||||||
|
Loss on disposal of fixed assets
|
52,781 | - | 52,781 | |||||||||
|
Total operating expenses
|
135,735 | 232,825 | 1,866,220 | |||||||||
|
Other expense:
|
||||||||||||
|
Interest expense
|
29,573 | 9,167 | 90,413 | |||||||||
|
Net loss
|
$ | (165,308 | ) | $ | (241,992 | ) | $ | (1,956,633 | ) | |||
|
Weighted average common shares outstanding - basic and diluted
|
271,610,552 | 341,300,300 | ||||||||||
|
Net loss per common share - basic and diluted
|
$ | (0.00 | ) | $ | (0.00 | ) | ||||||
The accompanying notes are an integral part of these financial statements.
F-2
|
(A Development Stage Company)
|
||||||||||||
|
Statements of Cash Flows
|
||||||||||||
|
(Unaudited)
|
||||||||||||
|
For the Period
|
||||||||||||
|
For the Three Months
|
For the Three Months
|
from May 6, 2010
|
||||||||||
|
Ended October 31,
|
Ended October 31,
|
(inception) to
|
||||||||||
|
2013
|
2012
|
October 31, 2013
|
||||||||||
|
CASH FLOWS FROM OPERATING ACTIVITIES
|
||||||||||||
|
Net loss
|
$ | (165,308 | ) | $ | (241,992 | ) | $ | (1,956,633 | ) | |||
|
Adjustments to reconcile net loss to net cash used in
|
||||||||||||
|
operating activities:
|
||||||||||||
|
Depreciation expense
|
- | 2,552 | 19,742 | |||||||||
|
Imputed interest
|
21,400 | 9,167 | 64,205 | |||||||||
|
Loss on disposal of fixed assets
|
52,781 | - | 52,781 | |||||||||
|
Changes in operating assets and liabilities:
|
||||||||||||
|
Prepaid expenses
|
- | (27,392 | ) | (12,276 | ) | |||||||
|
Accounts payable & accrued liabilities
|
66,632 | - | 116,212 | |||||||||
|
Net cash used in operating activities of operations
|
(24,495 | ) | (257,665 | ) | (1,715,969 | ) | ||||||
|
CASH FLOW INVESTING ACTIVITIES
|
||||||||||||
|
Purchase of fixed assets
|
- | (42,771 | ) | (72,523 | ) | |||||||
|
Net cash used in investing activities
|
- | (42,771 | ) | (72,523 | ) | |||||||
|
CASH FLOW FINANCING ACTIVITIES
|
||||||||||||
|
Proceeds from issuance of common stock
|
- | - | 40,976 | |||||||||
|
Proceeds from loans payable
|
74,301 | 400,000 | 1,745,121 | |||||||||
|
Proceeds from related party loans payable
|
- | 392 | 110,982 | |||||||||
|
Repayments on related party loans payable
|
- | - | (68,861 | ) | ||||||||
|
Advances from related parties
|
78,355 | - | 78,355 | |||||||||
|
Repayment of related party advances
|
(48,250 | ) | - | - | ||||||||
|
Net cash provided by financing activities
|
104,406 | 400,392 | 1,906,573 | |||||||||
|
NET CHANGE IN CASH
|
79,911 | 106,219 | 118,081 | |||||||||
|
CASH AT BEGINNING OF PERIOD
|
38,170 | 8,725 | - | |||||||||
|
CASH AT END OF PERIOD
|
$ | 118,081 | $ | 114,944 | $ | 118,081 | ||||||
|
SUPPLEMENTAL INFORMATION:
|
||||||||||||
|
Interest paid
|
$ | 10 | $ | - | $ | 10 | ||||||
|
Income tax paid
|
$ | - | $ | - | $ | - | ||||||
|
NONCASH INVESTING AND FINANCING ACTIVITIES:
|
||||||||||||
|
Conversion from loans payable to note payable
|
$ | - | $ | - | $ | 642,242 | ||||||
The accompanying notes are an integral part of these financial statements.
F-3
(formerly Xumanii Inc.)
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
(unaudited)
NOTE 1 – NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Nature of Business
Xumanii International Holdings Corp. (“Xumanii” or the “Company”) was incorporated in the State of Nevada on May 6, 2010. The Company maintains its statutory registered agent’s office at Nevada Corporate Headquarter, 101 Convention Center Drive, Suite 700 Las Vegas, Nevada 89109 and the Company’s mailing address and business office is located at 9550 South Eastern Ave. Suite 253-A86, Las Vegas, Nevada 89123.
The Company's name and trading symbol were changed from Medora Corp. and MORA effective September 7, 2012 to Xumanii, Inc. and XUII, respectively. Subsequently; the name was changed to Xumanii International Holdings Corp.
Xumanii was a platform that broadcasted live events in HD with a new technology that combines hardware and a software platform to broadcast from multiple cameras, wirelessly an event with an extremely low production cost until September 30, 2013. In October 2013, the business plan for Xumanii was changed to enter into the branded tablet market, app market and pursue acquisitions that may be synergistic to the company’s focus in various technologies.
The Company is considered as a development stage corporation and has not yet generated or realized any revenues from its business operations.
Basis of Presentation
The accompanying unaudited interim financial statements of the Company 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 (“SEC”), and should be read in conjunction with the audited financial statements and notes thereto contained in Xumanii’s Annual Report filed with the SEC on Form 10-K for the year ended July 31, 2013. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the financial position and the results 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 substantially duplicate the disclosure contained in the audited financial statements for fiscal 2013 as reported in the Form 10-K have been omitted.
F-4
Xumanii International Holdings Corp.
(formerly Xumanii Inc.)
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
(unaudited)
Use of Estimates
The preparation of financial statements in conformity with U.S. 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.
Basic and Diluted Earnings (Loss) Per Common Share
The basic net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding. Diluted net loss per common share is computed by dividing the net loss, adjusted on an "as if converted" basis, by the weighted average number of common shares outstanding plus potential dilutive securities. For all periods presented, there were no potentially dilutive securities outstanding.
Cash and Cash Equivalents
The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.
Fair Value Measurement
The Company values its derivative instruments under FASB ASC 820 which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements.
As defined in ASC 820, fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The Company utilizes market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable. The Company classifies fair value balances based on the observability of those inputs. ASC 820 establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurement).
F-5
Xumanii International Holdings Corp.
(formerly Xumanii Inc.)
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
(unaudited)
The three levels of the fair value hierarchy defined by ASC 820 are as follows:
Level 1 – Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of financial instruments such as exchange-traded derivatives, marketable securities and listed equities.
Level 2 – Pricing inputs are other than quoted prices in active markets included in level 1, which are either directly or indirectly observable as of the reported date.
Level 3 – Pricing inputs include significant inputs that are generally less observable from objective sources. These inputs may be used with internally developed methodologies that result in management’s best estimate of fair value. The Company uses Level 3 to value its derivative instruments.
Income Taxes
Potential benefits of income tax losses are not recognized in the accounts until realization is more likely than not. The Company computes a deferred tax asset for net operating losses carried forward. The potential benefit of net operating losses have not been recognized in these financial statements because the Company cannot be assured it is more likely than not it will utilize the net operating losses carried forward in future years.
Stock-based Compensation
The Company estimates the fair value of each stock option award at the grant date by using the Black-Scholes option pricing model and common shares based on the last quoted market price of the Company’s common stock on the date of the share grant. The fair value determined represents the cost for the award and is recognized over the vesting period during which an employee is required to provide service in exchange for the award. As share-based compensation expense is recognized based on awards ultimately expected to vest, the Company reduces the expense for estimated forfeitures based on historical forfeiture rates. Previously recognized compensation costs may be adjusted to reflect the actual for feature rate for the entire award at the end of the vesting period. Excess tax benefits, if any, are recognized as an addition to paid-in capital.
Recently Issued Accounting Pronouncements
The Company does not expect the adoption of any recently issued accounting pronouncements to have a significant impact on its results of operations, financial position or cash flow.
F-6
Xumanii International Holdings Corp.
(formerly Xumanii Inc.)
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
(unaudited)
NOTE 2 – GOING CONCERN
These financial statements have been prepared on a going concern basis, which implies Xumanii will continue to meet its obligations and continue its operations for the next twelve months. As of October 31, 2013, the Company has an accumulated deficit of $1,956,633, limited liquidity and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs for the next twelve month period. The Company’s sole officer and director is unwilling to loan or advance any additional capital to the Company, except for the costs associated with the preparation and filing of reports with the Securities and Exchange Commission (“SEC”). These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. The continuation of Xumanii as a going concern is dependent upon financial support from its stockholders, the ability of Xumanii to obtain necessary equity financing to continue operations, and the attainment of profitable operations. Realization value may be substantially different from carrying values as shown and these financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should Xumanii be unable to continue as a going concern.
NOTE 3 – LOANS PAYABLE
As of October 31, 2013, the Company had the following loans payable outstanding:
Interest-free loan of $1,070,000 from Atoll Finance which is due on demand. The Company recorded $21,400 of imputed interest for the three months ended October 31, 2013.
$50,000 from a $500,000 convertible note: On October 23, 2013, the Company entered into a convertible third-party promissory note for $500,000 with an initial discount of $50,000. During the three months ended October 31, 2013, the Company received the first advance of $50,000. The note has a maturity date of two years from effective date of each payment and bears and interest rate of 12%. The Company evaluated the conversion feature in the convertible note and determined it created an embedded derivative. The Company determined the embedded derivative has an insignificant fair value and did not recognize any derivative liability on its book.
On October 21, 2013, the Company entered into a note payable with a third party for $25,000. This note bears an interest rate of 12% per annum and is due April 21, 2014.
NOTE 4 – NOTE PAYABLE
As of October 31, 2013, the Company had a convertible note of $642,242 payable to Atoll Finance, with an interest rate of 5%. The note is unsecured, and is due in December 2013.
F-7
Xumanii International Holdings Corp.
(formerly Xumanii Inc.)
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
(unaudited)
NOTE 5 – SUBSEQUENT EVENTS
In December 2013, the Company obtained a note payable from a third party for $450,000, which included an original issue discount fee of $150,000. The note bears 12% interest per annum and provides principal reductions to the OID if the Company files a registration statement and is timely approved.
On October 10, 2013, the Company entered into a convertible promissory note with a third party for $37,500. The note bears interest at 8% and a maturity date of July 12, 2014. In the event that the note remains unpaid at that date, the Company will pay default interest at 22%. The lender has the right after a period of 180 days to convert the balance outstanding into the Company's common stock at a rate equal to 51% of the average three closing prices during the ten trading days prior to the conversion date.
On October 31, 2013, the Company entered into a convertible promissory note with a third party for $50,000. The note bears interest at 8% per annum and with a maturity date of October 31, 2014. In the event that the note remains unpaid at that date, the Company will pay default interest of an additional 8%. The lender has the right after a period of 180 days to convert the balance outstanding into the Company's common stock at a rate equal to 60% of the lowest one day closing prices during the twenty trading days prior to the conversion date.
On October 1, 2013, the Company announced that it was to acquire RFID business Trakkers LLC for 2 million preferred shares of Xumanii the preferred shares had a face value of $1, valuing Trakkers at $2 million. This acquisition entered escrow on October 1, 2013. However, the structure of the acquisition was such that it would have added approximately $4 million of debt to the Company while only adding approximately $1.4 million of revenue therefore the Company has taken the view that the is transaction did not meet the conditions required for closing and that it was not in the best interests of the Company to proceed with the acquisition. Therefore, the transaction has been canceled and the Company since successfully identified better acquisition opportunities.
F-8
The following provides information which management believes is relevant to an assessment and understanding of our results of operations and financial condition. The discussion should be read along with our financial statements and notes thereto. The following discussion and analysis contains forward-looking statements, which involve risks and uncertainties. Our actual results may differ significantly from the results, expectations and plans discussed in these forward-looking statements. See “Cautionary Statement on Forward-Looking Information.”
We are a development stage company and have not yet generated or realized any revenues from our business operations.
Our auditors have raised substantial doubt as to our ability to continue as an on-going business for the next 12 months. We have not generated any revenue, have not completed the development of our websites, and have only recently located businesses willing to offer significant discounts of their products or services to our registered members.
To meet our need for cash, we have raised funds from third party loans. We cannot guarantee that since we have adopted and implemented a new business plan and have begun operations that we will stay in business after twelve months. We may quickly use up our current cash and will need to find alternative sources, such as a second public offering, or a private placement of securities in order for us to maintain our operations. At the present time, we have not made any arrangements to raise additional cash, other than from the loans that have been received and similar ones we are contemplating. If we need additional cash and cannot raise it, we may either have to suspend operations until we do raise the cash, or cease operations entirely. If we need more money, we will have to revert to obtaining additional funds as described above.
Plan of Operation
Our business plan for Xumanii is to enter the branded tablet market, app market and pursue acquisitions that may be synergistic to the company’s focus in various technologies.
In the current quarter, we received $74,301 in loans from third parties. We also received related party advances of $78,355.
Currently, do not have any future arrangements or commitments in place other than those listed above to complete any private placement financings and there is no assurance that we will be successful in completing any such financings on terms that will be acceptable to us.
The Company acquired NITH, LLC, a holding company, in December 2013. Subject to completion of a definitive agreement, this entity will hold a Communications company that had revenues of $20 million and EBITDA of $300,000 last year. It is an established provider of VOIP and mobile communications services to emerging markets It has offices in the US and China, and customers in 25 countries.
Limited Operating History; Need for Additional Capital
There is limited historical financial information about us upon which to base an evaluation of our performance. We are a start-up (development stage) company and have not generated any revenues. We cannot guarantee we will be successful in our business operations. Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources and possible cost overruns due to price and cost increases in services and products.
5
We have no assurance that future financing will be available to us on acceptable terms. If financing is not available on satisfactory terms, we may be unable to continue, develop or expand our operations. Equity financing could result in additional dilution to our existing stockholders.
We anticipate that we will need to meet our ongoing cash requirements through the generation of revenue or equity and/or debt financing.
We intend to meet our cash requirements for the short term by generating revenue and, if possible, through a combination of debt financing and equity financing by way of private placements. We currently do not have any arrangements or commitments in place to complete any private placement financings and there is no assurance that we will be successful in completing any such financings on terms that will be acceptable to us.
If we are not able to raise all monies needed to fully implement our business plan for the next year as anticipated, we will scale our business development in line with available capital. Our primary priority will be to retain our reporting status with the SEC which means that we will first ensure that we have sufficient capital to cover our legal and accounting expenses. Once these costs are accounted for, in accordance with how much financing we are able to secure, we will focus on market awareness, and servicing costs as well as marketing and advertising to social media marketing websites. We will likely not expend funds on the remainder of our planned activities unless we have the required capital.
If we are able to raise the required funds we will fully implement our business plan. If we are not able to raise all required funds, we will prioritize our corporate activities.
Results of Operations
Three Months Ended October 31, 2013 Compared to Three Months Ended October 31, 2012
Revenue
We had no revenues for the three month periods ended October 31, 2013 and 2012.
Operating expense
For the three months ended October 31, 2013 and 2012, we incurred operating expense of $135,735 and $232,825, respectively. The decrease was due to the streaming business stopping in August, 2013.
Other expense
For the three months ended October 31, 2013 and 2012, we incurred other expense of $29,573 and $9,167, respectively. The increase was due to interest on a larger amount of date than the prior year.
Net loss
For the three months ended October 31, 2013 and 2012, we had net loss of $165,308 and $241,992, respectively. The decrease was due to the streaming business stopping in August, 2013.
6
As of the date of this report, we have yet to generate any revenues from our business operations.
As of October 31, 2013, our total assets were $130,357, including cash in the amount of $118,081. Our total liabilities were $1,981,809, which is primarily consisted of the related party advances, loans payable and notes payable.
We intend to meet our cash requirements for the short term by generating revenue and through a combination of debt financing and equity financing by way of private placements. We currently do not have any arrangements or commitments in place to complete any private placement financings and there is no assurance that we will be successful in completing any such financings on terms that will be acceptable to us.
If we are not able to raise the amount needed to fully implement our business plan as anticipated, we will scale our business development in line with available capital.
Our primary priority will be to retain our reporting status with the SEC which means that we will first ensure that we have sufficient capital to cover our legal and accounting expenses.
Once these costs are accounted for, in accordance with how much financing we are able to secure, we will focus on market awareness, testing and servicing costs as well as marketing and advertising to social media marketing websites. We will likely not expend funds on the remainder of our planned activities unless we have the required capital
7
We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and as defined by Rule 229.10(f)(1) of Regulation S-K, and are not required to provide the information under this item.
Evaluation of Disclosure Controls and Procedures
We maintain “disclosure controls and procedures,” as such term is defined in Rule 13a-15(e) under the Securities Exchange Act of 1934 (the “Exchange Act”), that are designed to ensure that information required to be disclosed in our Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission rules and forms, and that such information is accumulated and communicated to our management, including our Principal Executive Officer and Principal Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. We conducted an evaluation under the supervision and with the participation of our Principal Executive Officer and Principal Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures as of the end of the period covered by this report pursuant to Rule 13a-15 of the Exchange Act. Based on this Evaluation, our Principal Executive Officer and Principal Financial Officer concluded that our Disclosure Controls were not effective as of the end of the period covered by this report due to the lack of adequate segregation of duties and the absence of an audit committee.
Changes in Internal Controls
There were no changes in our internal control over financial reporting during our most recent fiscal quarter that affected, or were reasonably likely to affect, our internal control over financial reporting.
8
PART II. OTHER INFORMATION
Currently we are not involved in any litigation that we believe could have a material adverse effect on our financial condition or results of operations. There is no action, suit, proceeding, inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body pending or, to the knowledge of the executive officers of our company or any of our subsidiaries, threatened against or affecting our company, our common stock, any of our subsidiaries or of our companies or our subsidiaries’ officers or directors in their capacities as such, in which an adverse decision could have a material adverse effect.
We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.
None.
None.
Not applicable.
None.
9
The following documents are included herein:
|
|
|
Incorporated by reference
|
|
||
|
Exhibit
|
Document Description
|
Form
|
Date
|
Number
|
Filed
herewith
|
|
|
|
|
|
|
|
|
31.1
|
Certification of Principal Executive Officer and
Principal Financial Officer pursuant to Section
302 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
X
|
|
|
|
|
|
|
|
|
32.1
|
Certification of Chief Executive Officer and
Chief Financial Officer pursuant to Section 906
of the Sarbanes-Oxley Act of 2002.
|
|
|
|
X
|
Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing of this Form 10-K and has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, in Las Vegas, NV on this 16th day of December 2013.
|
Xumanii International
Holdings Corp.
|
||
|
BY:
|
Adam Radly
|
|
|
Adam Radly
|
||
|
President, Treasurer,
Director
|
||
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following person on behalf of the Registrant and in the capacities.
|
Signature
|
Title
|
Date
|
||
|
/s/Adam Radly
|
President, Treasurer,
|
December 16,
|
||
| Director |
2013
|
|||
| Adam Radly |
10