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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Kallo Inc (CE) | USOTC:KALO | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0003 | 0.00 | 01:00:00 |
x
|
QUARTERLY REPORT UNDER TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2014
|
OR
|
|
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Large Accelerated Filer
|
|
Accelerated Filer
|
|
Non-accelerated Filer (Do not check if smaller reporting company)
|
|
Smaller Reporting Company
|
x
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PAGE
|
||
Financial Statements.
|
||
3
|
||
4
|
||
5
|
||
6
|
||
7
|
||
Management's Discussion and Analysis of Financial Condition and Results of
Operations.
|
11
|
|
Quantitative and Qualitative Disclosures about Market Risk.
|
18
|
|
Controls and Procedures.
|
18
|
|
Legal Proceedings.
|
18
|
|
Risk Factors.
|
18
|
|
Exhibits.
|
19
|
|
21
|
||
22
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September 30,
|
December 31,
|
|||||||
ASSETS
|
2014
|
2013
|
||||||
Current Assets:
|
||||||||
Cash
|
$
|
69,395
|
$
|
27,448
|
||||
Other receivables
|
15,008
|
12,276
|
||||||
Prepaid expenses
|
72,894
|
25,396
|
||||||
Total Current Assets
|
157,297
|
65,120
|
||||||
Deposit – long term
|
51,222
|
-
|
||||||
Copyrights
|
865,000
|
865,000
|
||||||
Equipment, net
|
13,852
|
47,973
|
||||||
TOTAL ASSETS
|
$
|
1,087,371
|
$
|
978,093
|
||||
LIABILITIES AND STOCKHOLDERS' DEFICIENCY
|
||||||||
Current Liabilities:
|
||||||||
Accounts payable and accrued liabilities
|
$
|
1,024,428
|
$
|
1,082,587
|
||||
Accrued officers' salaries
|
20,000
|
20,000
|
||||||
Loans payable
|
58,124
|
61,203
|
||||||
Short term loans payable
|
48,606
|
74,791
|
||||||
Short term loans payable – related parties
|
1,450
|
1,450
|
||||||
Deposit for shares to be issued
|
-
|
9,560
|
||||||
Deferred revenue
|
24,990
|
24,990
|
||||||
Total Current Liabilities
|
1,177,598
|
1,274,581
|
||||||
TOTAL LIABILITIES
|
1,177,598
|
1,274,581
|
||||||
Commitments and Contingencies
|
||||||||
Stockholders' Deficiency
|
||||||||
Preferred stock, $0.00001 par value, 100,000,000 shares authorized,
none issued and outstanding
|
-
|
-
|
||||||
Common stock, $0.00001 par value, 500,000,000 (December 31, 2013 –
500,000,000) shares authorized, 355,912,596 and 319,106,020 shares
issued and outstanding, respectively.
|
3,559
|
3,191
|
||||||
Additional paid-in capital
|
20,532,799
|
18,669,367
|
||||||
Accumulated deficit
|
(20,626,585
|
)
|
(18,969,046
|
)
|
||||
Total Stockholders' Deficiency
|
(90,227
|
)
|
(296,488
|
)
|
||||
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY
|
$
|
1,087,371
|
$
|
978,093
|
Three Months Ended
|
Nine Months Ended
|
|||||||||||||||
September 30,
|
September 30,
|
|||||||||||||||
2014
|
2013
|
2014
|
2013
|
|||||||||||||
Expenses
|
||||||||||||||||
General and administration
|
$
|
567,903
|
$
|
233,198
|
$
|
1,473,060
|
$
|
1,128,073
|
||||||||
Selling and marketing
|
22,497
|
93,358
|
164,932
|
267,426
|
||||||||||||
Foreign exchange loss (gain)
|
(27,355
|
)
|
15,216
|
(34,466
|
)
|
2,922
|
||||||||||
Depreciation
|
11,374
|
22,143
|
34,121
|
66,427
|
||||||||||||
Interest and financing costs
|
5,953
|
4,722
|
16,468
|
12,216
|
||||||||||||
Change in fair value on convertible promissory note
|
-
|
(96
|
)
|
-
|
(34,099
|
)
|
||||||||||
Gain on extinguishment of convertible promissory
note
|
-
|
(70,001
|
)
|
-
|
(116,668
|
)
|
||||||||||
Loss on extinguishment of short term loan payable
|
-
|
-
|
3,424
|
-
|
||||||||||||
580,372
|
298,540
|
1,657,539
|
1,326,297
|
|||||||||||||
Net Loss
|
$
|
(580,372
|
)
|
$
|
(298,540
|
)
|
$
|
(1,657,539
|
)
|
$
|
(1,326,297
|
)
|
||||
Basic and diluted net loss per share
|
$
|
(0.00
|
)
|
$
|
(0.00
|
)
|
$
|
(0.00
|
)
|
$
|
(0.00
|
)
|
||||
Weighted average shares used in calculating
|
||||||||||||||||
Basic and diluted net loss per share
|
351,447,489
|
307,647,036
|
341,569,991
|
298,658,065
|
Preferred Stock
|
Common Stock
|
Additional
|
Total
|
|||||||||||||||||||||||||
$0.00001 par value
|
$0.00001 par value
|
Paid-In
|
Accumulated
|
Stockholders'
|
||||||||||||||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
Capital
|
Deficit
|
Deficiency
|
||||||||||||||||||||||
Balance December 31, 2013
|
-
|
$
|
-
|
319,106,020
|
$
|
3,191
|
$
|
18,669,367
|
$
|
(18,969,046
|
)
|
$
|
(296,488
|
)
|
||||||||||||||
Issuance of common shares – Kodiak put
|
-
|
-
|
3,472,223
|
35
|
249,948
|
-
|
249,983
|
|||||||||||||||||||||
Shares issued to director, employees and others
for services
|
-
|
-
|
6,335,000
|
63
|
270,587
|
-
|
270,650
|
|||||||||||||||||||||
Settlement of short term loans payable by common shares
|
-
|
-
|
680,000
|
7
|
27,193
|
-
|
27,200
|
|||||||||||||||||||||
Issuance of common shares for cash
|
-
|
-
|
26,319,353
|
263
|
1,315,704
|
-
|
1,315,967
|
|||||||||||||||||||||
Net Loss
|
-
|
-
|
-
|
-
|
-
|
(1,657,539
|
)
|
(1,657,539
|
)
|
|||||||||||||||||||
Balance September 30, 2014
|
$
|
355,912,596
|
$
|
3,559
|
$
|
20,532,799
|
$
|
(20,626,585
|
)
|
$
|
(90,227
|
)
|
Nine Months Ended
|
||||||||
September 30,
|
||||||||
2014
|
2013
|
|||||||
CASH FLOWS FROM OPERATING ACTIVITIES
|
||||||||
Net Loss
|
$
|
(1,657,539
|
)
|
$
|
(1,326,297
|
)
|
||
Adjustment to reconcile net loss to cash used in operating activities:
|
||||||||
Depreciation
|
34,121
|
66,427
|
||||||
Stock based compensation
|
270,650
|
-
|
||||||
Loss on extinguishment of short term loan payable
|
3,424
|
-
|
||||||
Change in fair value on convertible promissory note
|
-
|
(34,099
|
)
|
|||||
Gain on extinguishment of convertible promissory note
|
-
|
(116,668
|
)
|
|||||
Non-cash settlement of expenses
|
-
|
5,000
|
||||||
Changes in operating assets and liabilities:
|
||||||||
Increase in other receivables
|
(2,732
|
)
|
(57,331
|
)
|
||||
(Increase) decrease in prepaid expenses
|
(98,720
|
)
|
86,028
|
|||||
Increase (decrease) in accounts payable and accrued liabilities
|
(63,647
|
)
|
66,295
|
|||||
NET CASH USED IN OPERATING ACTIVITIES
|
(1,514,443
|
)
|
(1,307,659
|
)
|
||||
CASH FLOWS FROM FINANCING ACTIVITIES
|
||||||||
Proceeds from sale of common stock, net
|
1,556,390
|
805,000
|
||||||
Proceeds for shares to be issued
|
-
|
269,235
|
||||||
Repayment of obligations under capital leases
|
-
|
(84,381
|
)
|
|||||
Repayment of convertible promissory note
|
-
|
(50,000
|
)
|
|||||
Proceeds from loans payable
|
-
|
19,840
|
||||||
Repayment of loans payable
|
-
|
(45,862
|
)
|
|||||
NET CASH PROVIDED BY FINANCING ACTIVITIES
|
1,556,390
|
998,213
|
||||||
NET (DECREASE) INCREASE IN CASH
|
41,947
|
(309,446
|
)
|
|||||
CASH - BEGINNING OF PERIOD
|
27,448
|
318,445
|
||||||
CASH - END OF PERIOD
|
$
|
69,395
|
$
|
8,999
|
||||
SUPPLEMENTAL CASH FLOW INFORMATION
|
||||||||
Income tax paid
|
$
|
-
|
$
|
-
|
||||
Interest paid
|
$
|
-
|
$
|
-
|
||||
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES
|
||||||||
Conversion of loans payable into common shares
|
$
|
23,776
|
$
|
57,826
|
||||
Maturity of capital lease obligations, included in accounts payable
|
-
|
108,268
|
Weighted Average
|
||||||||
Number of Warrants
|
Exercise Price
|
|||||||
Balance, December 31, 2013
|
1,580,000
|
$
|
0.50
|
|||||
Granted
|
-
|
-
|
||||||
Cancelled
|
-
|
-
|
||||||
Exercised
|
-
|
-
|
||||||
Balance, September 30, 2014
(unaudited)
|
1,580,000
|
$
|
0.50
|
September 30,
2014
|
December 31,
2013
|
|||||||
Promissory note bearing interest at 10% per annum, due January 10, 2014
|
$
|
-
|
$
|
25,664
|
||||
Promissory note bearing interest at 10% per annum, due January 15, 2014
|
25,007
|
25,528
|
||||||
Non-interest bearing advances from director
|
1,450
|
1,450
|
||||||
Non-interest bearing short term funding from third parties
|
23,599
|
23,599
|
||||||
$
|
50,056
|
$
|
76,241
|
-
|
$20,000,000, payable as to an advance of $300,000 immediately after the loan agreement for the Kallo MobileCare and RuralCare program is signed by the Minister of Finance of the Republic of Guinea and the remainder within 7 to 14 business days of receipt of payment for the Project by Kallo in proportion to the payments received by Kallo.
|
-
|
$4,000,000, payable within 7 to 14 business days of receipt of payment for the Project by Kallo in proportion to the payments received by Kallo. In addition, a performance incentive payment of $1,000,000 will be payable to three persons related to the third party in accordance to the same terms of payment described herein.
|
Year ending December 31, 2014
|
$
|
67,994
|
||
Year ending December 31, 2015
|
271,975
|
|||
Year ending December 31, 2016
|
249,311
|
|||
589,280
|
1.
|
Mobile clinics - (10)
|
2.
|
Clinical Command Centre - (1)
|
3.
|
Administration Centre - (1)
|
4.
|
Utility vehicles - (2)
|
5.
|
User training - (5 years)
|
6.
|
Professional and clinical training - (5 years)
|
7.
|
Hardware and software maintenance - (5years)
|
8.
|
Operations & management support - (5 years)
|
9.
|
Maintenance and continued educational support - (5 years)
|
10.
|
Supply chain management of medical equipment, consumables and spare parts - (5 years)
|
11.
|
Advanced and integrated software systems, including telehealth - (1 full system)
|
12.
|
Fixed Medical Hospital - (1)
|
13.
|
Ambulances - (20)
|
14.
|
Medical Helicopter - (1)
|
1.
|
Establish geographical coverage for Mobile Clinics based on hospitals to population ratio in specific rural areas of Guinea and Ghana
|
2.
|
Establish the specialists support from teaching hospitals
|
3.
|
Establish leadership for operational and administrative support
|
4.
|
Establish governance councils for operations, education and training
|
Polyclinic Urban-
Urban
|
Polyclinic Rural
Rural
|
Total
|
CHIPS CPD
|
|
Greater Accra
|
3
|
1
|
4
|
0
|
Ashanti Region
|
2
|
1
|
3
|
0
|
Central Region
|
2
|
1
|
3
|
2
|
Northern Region
|
2
|
2
|
4
|
2
|
Upper East Region
|
1
|
2
|
3
|
2
|
Upper West Region
|
0
|
0
|
0
|
1
|
Western Region
|
2
|
3
|
5
|
0
|
Volta Region
|
1
|
1
|
2
|
2
|
Eastern Region
|
1
|
1
|
2
|
0
|
Brong-Ahafo Region
|
1
|
0
|
1
|
1
|
15
|
12
|
27
|
10
|
A.
|
M.C. Telehealth – Mobile Clinic Telehealth System – Developed and launched in November 2011.
|
B.
|
EMR Integration Engine – Electronic Medical Record Integration Engine - Under development.
|
C.
|
C&ID-IMS – Communicable and Infectious Disease Information Management System - Under Development
|
D.
|
CCG Technology – Clinical-Care Globalization technology – Under Development
|
Incorporated by reference
|
Filed
|
||||
Exhibit
|
Document Description
|
Form
|
Date
|
Number
|
herewith
|
2.1
|
Articles of Merger.
|
8-K
|
1/21/11
|
2.1
|
|
3.1
|
Articles of Incorporation.
|
SB-2
|
3/05/07
|
3.1
|
|
3.2
|
Bylaws.
|
SB-2
|
3/05/07
|
3.2
|
|
4.1
|
Specimen Stock Certificate.
|
SB-2
|
3/05/07
|
4.1
|
|
10.1
|
Option Agreement.
|
SB-2
|
3/05/07
|
10.1
|
|
10.2
|
Lease Agreement.
|
SB-2
|
3/05/07
|
10.1
|
|
10.3
|
Agreement with Rophe Medical Technologies Inc. dated
December 11, 2009.
|
10-K
|
3/31/10
|
10.2
|
|
10.4
|
Amended Agreement with Rophe Medical Technologies
Inc. dated December 18, 2009.
|
10-K
|
3/31/10
|
10.3
|
|
10.5
|
Amended Agreement with Rophe Medical Technologies
Inc. dated March 16, 2010.
|
10-K
|
3/31/10
|
10.4
|
|
10.6
|
Investment Agreement with Kodiak Capital Group, LLC.
|
S-1
|
10/30/14
|
10.6
|
|
10.7
|
Consulting Agreement with Ten Associate LLC.
|
S-1
|
5/24/10
|
10.7
|
|
10.8
|
Employment Agreement with Leonard Steinmetz.
|
S-1
|
5/24/10
|
10.8
|
|
10.9
|
Employment Agreement with Samuel Baker.
|
S-1
|
5/24/10
|
10.9
|
|
10.10
|
Employment Agreement with John Cecil.
|
S-1
|
5/24/10
|
10.10
|
|
10.11
|
Employment Agreement with Mary Kricfalusi.
|
S-1
|
5/24/10
|
10.11
|
|
10.12
|
Employment Agreement with Vince Leitao.
|
S-1
|
5/24/10
|
10.12
|
|
10.13
|
Amended Consulting Agreement with Ten Associate LLC
dated October 5, 2010.
|
8-K
|
10/14/10
|
10.13
|
|
10.14
|
Agreement with Jarr Capital Corp.
|
8-K
|
11/17/10
|
10.1
|
|
10.15
|
Agreement with Mary Kricfalusi.
|
8-K
|
11/19/10
|
10.1
|
|
10.16
|
Agreement with Herb Adams.
|
8-K
|
11/19/10
|
10.2
|
|
10.17
|
North American Authorized Agency Agreement with
Advanced Software Technologies, Inc.
|
8-K
|
12/16/10
|
10.1
|
|
10.18
|
Amended Agreement with Jarr Capital Corp.
|
8-K
|
2/22/11
|
10.1
|
10.19
|
Termination of Employment Agreement with John Cecil.
|
8-K
|
2/22/11
|
10.2
|
|
10.20
|
Termination of Employment Agreement with Vince Leitao.
|
8-K
|
2/22/11
|
10.3
|
|
10.21
|
Termination of Employment Agreement with Samuel
Baker.
|
8-K
|
2/22/11
|
10.4
|
|
10.22
|
Services Agreement with Buchanan Associates Computer
Consulting Ltd.
|
10-K
|
5/18/11
|
10.1
|
|
10.23
|
Equipment Lease Agreement with Buchanan Associates
Computer Consulting Ltd.
|
10-K
|
5/18/11
|
10.2
|
|
10.24
|
Agreement with Mansfield Communications Inc.
|
10-K
|
5/18/11
|
10.3
|
|
10.25
|
Agreement with Watt International Inc.
|
10-K
|
5/18/11
|
10.4
|
|
10.26
|
Pilot EMR Agreement with Nexus Health Management
Inc.
|
10-K
|
5/18/11
|
10.5
|
|
14.1
|
Code of Ethics.
|
10-K
|
4/15/08
|
14.1
|
|
16.1
|
Letter from Collins Barrow Toronto LLP.
|
8-K/A-1
|
2/15/12
|
16.3
|
|
16.2
|
Letter from MaloneBailey, LLP.
|
8-K
|
3/02/11
|
16.1
|
|
21.1
|
List of Subsidiary Companies.
|
10-K
|
3/31/10
|
21.1
|
|
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
|
|||
99.1
|
Audit Committee Charter.
|
10-K
|
4/15/08
|
99.1
|
|
99.2
|
Disclosure Committee Charter.
|
10-K
|
4/15/08
|
99.2
|
|
101.INS
|
XBRL Instance Document.
|
X
|
|||
101.SCH
|
XBRL Taxonomy Extension – Schema.
|
X
|
|||
101.CAL
|
XBRL Taxonomy Extension – Calculations.
|
X
|
|||
101.DEF
|
XBRL Taxonomy Extension – Definitions.
|
X
|
|||
101.LAB
|
XBRL Taxonomy Extension – Labels.
|
X
|
|||
101.PRE
|
XBRL Taxonomy Extension – Presentation.
|
X
|
KALLO INC.
|
||
(The "Registrant")
|
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BY:
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JOHN CECIL
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John Cecil
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Principal Executive Officer, Principal Financial Officer, Principal Accounting Officer, and a Chairman of the Board of Directors
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BY:
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VINCE LEITAO
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Vince Leitao
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President, Chief Operating Officer and a member of the Board of Directors
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Incorporated by reference
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Filed
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Exhibit
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Document Description
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Form
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Date
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Number
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herewith
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2.1
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Articles of Merger.
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8-K
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1/21/11
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2.1
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3.1
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Articles of Incorporation.
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SB-2
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3/05/07
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3.1
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3.2
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Bylaws.
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SB-2
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3/05/07
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3.2
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4.1
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Specimen Stock Certificate.
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SB-2
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3/05/07
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4.1
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10.1
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Option Agreement.
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SB-2
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3/05/07
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10.1
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10.2
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Lease Agreement.
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SB-2
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3/05/07
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10.1
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10.3
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Agreement with Rophe Medical Technologies Inc. dated
December 11, 2009.
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10-K
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3/31/10
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10.2
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10.4
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Amended Agreement with Rophe Medical Technologies
Inc. dated December 18, 2009.
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10-K
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3/31/10
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10.3
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10.5
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Amended Agreement with Rophe Medical Technologies
Inc. dated March 16, 2010.
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10-K
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3/31/10
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10.4
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10.6
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Investment Agreement with Kodiak Capital Group, LLC.
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S-1
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10/30/14
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10.6
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10.7
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Consulting Agreement with Ten Associate LLC.
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S-1
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5/24/10
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10.7
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10.8
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Employment Agreement with Leonard Steinmetz.
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S-1
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5/24/10
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10.8
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10.9
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Employment Agreement with Samuel Baker.
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S-1
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5/24/10
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10.9
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10.10
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Employment Agreement with John Cecil.
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S-1
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5/24/10
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10.10
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10.11
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Employment Agreement with Mary Kricfalusi.
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S-1
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5/24/10
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10.11
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10.12
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Employment Agreement with Vince Leitao.
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S-1
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5/24/10
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10.12
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10.13
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Amended Consulting Agreement with Ten Associate LLC
dated October 5, 2010.
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8-K
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10/14/10
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10.13
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10.14
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Agreement with Jarr Capital Corp.
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8-K
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11/17/10
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10.1
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10.15
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Agreement with Mary Kricfalusi.
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8-K
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11/19/10
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10.1
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10.16
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Agreement with Herb Adams.
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8-K
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11/19/10
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10.2
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10.17
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North American Authorized Agency Agreement with
Advanced Software Technologies, Inc.
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8-K
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12/16/10
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10.1
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10.18
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Amended Agreement with Jarr Capital Corp.
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8-K
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2/22/11
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10.1
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10.19
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Termination of Employment Agreement with John Cecil.
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8-K
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2/22/11
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10.2
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10.20
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Termination of Employment Agreement with Vince Leitao.
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8-K
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2/22/11
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10.3
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10.21
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Termination of Employment Agreement with Samuel
Baker.
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8-K
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2/22/11
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10.4
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10.22
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Services Agreement with Buchanan Associates Computer
Consulting Ltd.
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10-K
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5/18/11
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10.1
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10.23
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Equipment Lease Agreement with Buchanan Associates
Computer Consulting Ltd.
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10-K
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5/18/11
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10.2
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10.24
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Agreement with Mansfield Communications Inc.
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10-K
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5/18/11
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10.3
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10.25
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Agreement with Watt International Inc.
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10-K
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5/18/11
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10.4
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10.26
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Pilot EMR Agreement with Nexus Health Management
Inc.
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10-K
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5/18/11
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10.5
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14.1
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Code of Ethics.
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10-K
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4/15/08
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14.1
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16.1
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Letter from Collins Barrow Toronto LLP.
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8-K/A-1
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2/15/12
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16.3
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16.2
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Letter from MaloneBailey, LLP.
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8-K
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3/02/11
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16.1
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21.1
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List of Subsidiary Companies.
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10-K
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3/31/10
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21.1
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31.1
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Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
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X
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32.1
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Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
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X
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99.1
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Audit Committee Charter.
|
10-K
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4/15/08
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99.1
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99.2
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Disclosure Committee Charter.
|
10-K
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4/15/08
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99.2
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101.INS
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XBRL Instance Document.
|
X
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101.SCH
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XBRL Taxonomy Extension – Schema.
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X
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101.CAL
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XBRL Taxonomy Extension – Calculations.
|
X
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101.DEF
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XBRL Taxonomy Extension – Definitions.
|
X
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101.LAB
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XBRL Taxonomy Extension – Labels.
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X
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101.PRE
|
XBRL Taxonomy Extension – Presentation.
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X
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1. | I have reviewed this Form 10-Q for the period ending September 30, 2014 of Kallo Inc.; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
4. | The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
a. | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
b. | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
c. | Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
d. | Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and |
5. | The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): |
a. | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and |
b. | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. |
Date:
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November 14, 2014
|
JOHN CECIL
|
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John Cecil
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Principal Executive Officer and Principal Financial Officer
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(1) | The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and |
(2) | The information contained in this Report fairly presents, in all material respects, the financial condition and results of operations of the Company. |
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JOHN CECIL
|
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John Cecil
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Chief Executive Officer and Chief Financial Officer
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1 Year Kallo (CE) Chart |
1 Month Kallo (CE) Chart |
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