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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 |
☑
|
QUARTERLY REPORT UNDER TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2018
|
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
|
☐
|
Smaller Reporting Company
|
☑
|
||
Emerging Growth Company
|
☐
|
||||
(Do not check if smaller reporting company)
|
PAGE
|
||
PART I
|
||
Item 1.
|
||
3
|
||
Unaudited
Consolidated Statements of Operations
|
4
|
|
Unaudited
Consolidated Statements of Cash Flows
|
5
|
|
6
|
||
FORWARD-LOOKING STATEMENTS
|
9
|
|
Item 2.
|
12
|
|
Item 3.
|
20
|
|
Item 4.
|
20
|
|
PART II
|
||
Item 1.
|
20
|
|
Item 1A.
|
20
|
|
Item 6.
|
21
|
|
24
|
||
25
|
September 30,
|
December 31,
|
|||||||
ASSETS
|
2018
|
2017
|
||||||
Current Assets:
|
||||||||
Prepaid expenses
|
$
|
3,000
|
$
|
4,000
|
||||
Total Current Assets
|
3,000
|
4,000
|
||||||
TOTAL ASSETS
|
$
|
3,000
|
$
|
4,000
|
||||
LIABILITIES AND STOCKHOLDERS' DEFICIENCY
|
||||||||
Current Liabilities:
|
||||||||
Accounts payable and accrued liabilities
|
3,472,439
|
3,362,802
|
||||||
Convertible loans payable – third parties
|
234,106
|
215,520
|
||||||
Short term loans payable
|
17,291
|
17,827
|
||||||
Convertible loans payable – related parties
|
798,900
|
734,246
|
||||||
Total Current Liabilities
|
4,522,736
|
4,330,395
|
||||||
TOTAL LIABILITIES
|
4,522,736
|
4,330,395
|
||||||
Commitments and Contingencies (Note 7)
|
||||||||
Stockholders' Deficiency
|
||||||||
Preferred stock, $0.00001 par value, 100,000,000 shares authorized,
95,000,000 Series A preferred shares issued and outstanding
|
950
|
950
|
||||||
Common stock, $0.00001 par value, 1,150,000,000 shares authorized, 1,135,699,249 and 1,135,699,249 shares issued and outstanding, respectively.
|
11,357
|
11,357
|
||||||
Additional paid-in capital
|
41,435,879
|
41,435,879
|
||||||
Assignment of liabilities
|
(3,450,673
|
)
|
(3,600,452
|
)
|
||||
Accumulated deficit
|
(42,517,249
|
)
|
(42,174,129
|
)
|
||||
Total Stockholders' Deficiency
|
(4,519,736
|
)
|
(4,326,395
|
)
|
||||
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY
|
$
|
3,000
|
$
|
4,000
|
Three Months Ended
|
Nine months Ended
|
|||||||||||||||
September 30,
|
September 30,
|
|||||||||||||||
2018
|
2017
|
2018
|
2017
|
|||||||||||||
Operating Expenses
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||||||||||||||||
General and administration
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$
|
110,714
|
$
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195,576
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$
|
355,443
|
$
|
5,845,655
|
||||||||
Selling and marketing
|
104
|
1,384
|
108
|
4,324
|
||||||||||||
Operating loss
|
(110,818
|
)
|
(196,960
|
)
|
(355,551
|
)
|
(5,849,979
|
)
|
||||||||
Interest and financing costs
|
(28,052
|
)
|
(28,817
|
)
|
(83,240
|
)
|
(140,833
|
)
|
||||||||
Change in fair value on derivative liabilities
|
-
|
-
|
-
|
(3,012
|
)
|
|||||||||||
Gain on extinguishment of derivative liability
|
-
|
-
|
-
|
227,196
|
||||||||||||
Foreign exchange (loss) gain
|
(53,391
|
)
|
(112,408
|
)
|
95,671
|
(231,366
|
)
|
|||||||||
Net Loss
|
$
|
(192,261
|
)
|
$
|
(338,185
|
)
|
$
|
(343,120
|
)
|
$
|
(5,997,994
|
)
|
||||
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
|
1,135,699,249
|
9,907,440,258
|
1,135,699,249
|
9,287,116,297
|
September 30,
2018
|
December 31, 2017
|
|||||||
Convertible promissory notes bearing interest at 15% per annum – third party
|
$
|
234,106
|
$
|
215,520
|
||||
Convertible promissory notes bearing interest at 15% per annum – related parties
|
798,900
|
734,246
|
||||||
$
|
1,033,006
|
$
|
949,766
|
|
September 30,
2018
|
December 31,
2017
|
||||||
|
||||||||
Non-interest bearing short term funding from third parties
|
$
|
17,291
|
$
|
17,827
|
||||
|
$
|
17,291
|
$
|
17,827
|
·
|
Health: Hospitals, Rural Clinics and Mobile Clinics; according to the proposal submitted by Kallo Inc.
and approved by the Ministry of Health
.
|
·
|
Agriculture: development of 20,000 hectares of land along the rivers Milo and Sankarani
.
|
·
|
Infrastructures: construction of Kankan-Kérouané road, Kankan-Mandiana
.
|
·
|
Water: Serving the city of Conakry and cities in the interior of the country
.
|
Project Description
|
Kallo SPV
|
|
1
|
Tamale Military Hospital project
|
K-TMH Ghana Limited
|
2
|
Cape Coast Teaching Hospital project
|
K-UCC Cape Coast Limited
|
3
|
Sunyani Teaching Hospital project
|
K-UENR Sunyani Limited
|
4
|
Ho Teaching Hospital project
|
K-UHAS Ho Limited
|
*
|
MobileCareTM – a mobile trailer that opens into a state of the art clinical setup in a vehicle equipped with the latest technology in healthcare. More than just a facility, MobileCare TM can instantly connect the onboard physician with specialists for on-demand consultation via satellite through its Telehealth system. This is truly a holistic approach to delivering healthcare to the remotely located. For many rural communities, the nearest hospital, doctor or nurse may be hundreds of kilometers away. In many cases, this gap can be bridged using Telehealth technology that allows patients, nurses and doctors to talk as if they were in the same room
.
|
*
|
RuralCare
TM
– prefabricated modular healthcare units focused in rural areas where no roads infrastructure is available. They are equipped to provide primary healthcare including X-Ray, ultrasound, surgery, pharmacy and lab services. Ranging from 1,200 to 3,800 square feet, these clinics can be up and running in disaster zones or rural areas in as little as one week. Similar to the MobileCare
TM
product, RuralCare
TM
also utilizes satellite communications to access the Telehealth system
.
|
*
|
Global response center
– located in the Kallo headquarters in Canada, this is the escalation point for the coordination of delivery of Telehealth and eHealth support. It consists of both the Clinical Command Center and the Administrative Command Center
.
|
*
|
Regional response centers, Clinical and Administrative Command centers
– located in the urban area hospitals and connected with satellite communications, these centers coordinate all aspects of the healthcare delivery solution with the Mobile clinics and Rural clinics including clinical services, Telehealth services, pharmacy and medical consumable coordination as well as escalations to the Global response center
.
|
*
|
Kallo University
– provides education, training and development of local resources for all aspects of the healthcare delivery which includes clinical, engineering and administration
.
|
*
|
Emergency Medical Services
– provides ground and air ambulance vehicles for emergency patient transport
.
|
1.
|
To follow-up completion of the financing process with financiers and the respective governments.
|
2.
|
To pursue working capital raise with financial institutions and private placements
|
3.
|
To complete our organization restructuring and continue to build our infrastructure and resources for operations and management
|
|
|
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
|
|
|
|
|
|
|
|
3.3
|
Amended Articles of Incorporation (11/23/2015)
|
8-K
|
12/02/15
|
3.1
|
|
|
|
|
|
|
|
4.1
|
Specimen Stock Certificate
|
SB-2
|
3/05/07
|
4.1
|
|
|
|
|
|
|
|
10.1
|
Agreement with Rophe Medical Technologies Inc. dated December 11, 2009
|
10-K
|
3/31/10
|
10.2
|
|
|
|
|
|
|
|
10.2
|
Amended Agreement with Rophe Medical Technologies Inc. dated December 18, 2009
|
10-K
|
3/31/10
|
10.3
|
|
|
|
|
|
|
|
10.3
|
Amended Agreement with Rophe Medical Technologies Inc. dated March 16, 2010
|
10-K
|
3/31/10
|
10.4
|
|
|
|
|
|
|
|
10.4
|
Investment Agreement with Kodiak Capital Group, LLC dated October 20, 2014
|
S-1
|
10/30/14
|
10.6
|
|
|
|
|
|
|
|
10.5
|
Amended Agreement with Jarr Capital Corp.
|
8-K
|
2/22/11
|
10.1
|
|
|
|
|
|
|
|
10.6
|
Termination of Employment Agreement with John Cecil
|
8-K
|
2/22/11
|
10.2
|
|
|
|
|
|
|
|
10.7
|
Termination of Employment Agreement with Samuel Baker
|
8-K
|
2/22/11
|
10.4
|
|
|
|
|
|
|
|
10.8
|
Services Agreement with Buchanan Associates Computer Consulting Ltd.
|
10-K
|
5/18/11
|
10.1
|
|
|
|
|
|
|
|
10.9
|
Equipment Lease Agreement with Buchanan Associates Computer Consulting Ltd.
|
10-K
|
5/18/11
|
10.2
|
|
|
|
|
|
|
|
10.10
|
Agreement with Mansfield Communications Inc.
|
10-K
|
5/18/11
|
10.3
|
|
|
|
|
|
|
|
10.11
|
Agreement with Watt International Inc.
|
10-K
|
5/18/11
|
10.4
|
|
|
|
|
|
|
|
10.12
|
Pilot EMR Agreement with Nexus Health Management Inc.
|
10-K
|
5/18/11
|
10.5
|
|
|
|
|
|
|
|
10.13
|
2011 Non-Qualified Stock Option Plan
|
S-8
|
6/27/11
|
10.1
|
|
|
|
|
|
|
|
10.14
|
Multimedia Contractual Agreement with David Miller
|
8-K
|
10/28/11
|
10.1
|
|
KALLO INC.
|
||
(The "Registrant")
|
||
BY:
|
JOHN CECIL
|
|
John Cecil
|
||
President, Principal Executive Officer, Principal Financial Officer, Principal Accounting Officer, and a Chairman of the Board of Directors
|
|
|
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
|
|
|
|
|
|
|
|
3.3
|
Amended Articles of Incorporation (11/23/2015)
|
8-K
|
12/02/15
|
3.1
|
|
|
|
|
|
|
|
4.1
|
Specimen Stock Certificate
|
SB-2
|
3/05/07
|
4.1
|
|
|
|
|
|
|
|
10.1
|
Agreement with Rophe Medical Technologies Inc. dated December 11, 2009
|
10-K
|
3/31/10
|
10.2
|
|
|
|
|
|
|
|
10.2
|
Amended Agreement with Rophe Medical Technologies Inc. dated December 18, 2009
|
10-K
|
3/31/10
|
10.3
|
|
|
|
|
|
|
|
10.3
|
Amended Agreement with Rophe Medical Technologies Inc. dated March 16, 2010
|
10-K
|
3/31/10
|
10.4
|
|
|
|
|
|
|
|
10.4
|
Investment Agreement with Kodiak Capital Group, LLC dated October 20, 2014
|
S-1
|
10/30/14
|
10.6
|
|
|
|
|
|
|
|
10.5
|
Amended Agreement with Jarr Capital Corp.
|
8-K
|
2/22/11
|
10.1
|
|
|
|
|
|
|
|
10.6
|
Termination of Employment Agreement with John Cecil
|
8-K
|
2/22/11
|
10.2
|
|
|
|
|
|
|
|
10.7
|
Termination of Employment Agreement with Samuel Baker
|
8-K
|
2/22/11
|
10.4
|
|
|
|
|
|
|
|
10.8
|
Services Agreement with Buchanan Associates Computer Consulting Ltd.
|
10-K
|
5/18/11
|
10.1
|
|
|
|
|
|
|
|
10.9
|
Equipment Lease Agreement with Buchanan Associates Computer Consulting Ltd.
|
10-K
|
5/18/11
|
10.2
|
|
|
|
|
|
|
|
10.10
|
Agreement with Mansfield Communications Inc.
|
10-K
|
5/18/11
|
10.3
|
|
|
|
|
|
|
|
10.11
|
Agreement with Watt International Inc.
|
10-K
|
5/18/11
|
10.4
|
|
|
|
|
|
|
|
10.12
|
Pilot EMR Agreement with Nexus Health Management Inc.
|
10-K
|
5/18/11
|
10.5
|
|
|
|
|
|
|
|
10.13
|
2011 Non-Qualified Stock Option Plan
|
S-8
|
6/27/11
|
10.1
|
|
|
|
|
|
|
|
10.14
|
Multimedia Contractual Agreement with David Miller
|
8-K
|
10/28/11
|
10.1
|
|
1 Year Kallo (CE) Chart |
1 Month Kallo (CE) Chart |
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