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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Reliability Incorporated (PK) | USOTC:RLBY | 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% | 0.072 | 0.047 | 0.0978 | 0.00 | 14:30:27 |
x |
QUARTERLY REPORT UNDER SECTION 13 or 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
o |
TRANSITION REPORT UNDER SECTION 13 or 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
TEXAS
|
75-0868913
|
|
(State or other jurisdiction of
incorporation or organization)
|
(I.R.S. Employer
Identification Number)
|
410 Park Avenue - 15
th
Floor, New York, NY
|
91362
|
|
(Address of principal executive offices)
|
(Zip Code)
|
Large accelerated filer
|
o |
Accelerated filer
|
o |
Non-accelerated filer | o | Smaller reporting company | x |
(Do not check if a smaller reporting company) |
PART I. FINANCIAL INFORMATION
|
|||||
Item 1.
|
Unaudited Financial Statements
|
||||
|
|||||
Balance Sheets as of June 30, 2013 and
December 31, 2012
|
3 | ||||
Statements of Operations for the Three Months
Ended June 30, 2013 and 2012
|
4 | ||||
Statements of Operations for the Six Months
Ended June 30, 2013 and 2012
|
5 | ||||
Statements of Cash Flows for the Six Months ended June 30, 2013 and 2012
|
6 | ||||
Notes to Unaudited Financial Statements
|
7-9 | ||||
Item 2.
|
Management’s Discussion and Analysis of Financial Condition and Results of Operations
|
10 | |||
Item 3.
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Quantitative and Qualitative Disclosures About Market Risk
|
11 | |||
Item 4.
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Controls and Procedures
|
11 | |||
PART II. OTHER INFORMATION
|
12 | ||||
Exhibits | 13 | ||||
Signatures
|
14 |
Item 1. Financial Statements
|
June 30,
2013
|
December 31,
2012
|
|||||||
ASSETS
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||||||||
Current assets:
|
||||||||
Cash and cash equivalents
|
$
|
2,413
|
$
|
486
|
||||
Accounts receivable
|
1,500
|
0
|
||||||
Total current assets
|
3,913
|
486
|
||||||
Total Assets
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$
|
3,913
|
$
|
486
|
||||
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
|
||||||||
Current liabilities:
|
||||||||
Accounts payable and accrued liabilities
|
$
|
3,117
|
$
|
10,372
|
||||
Loans from officers
|
7,500
|
3,000
|
||||||
Total current liabilities
|
10,617
|
13,372
|
||||||
Stockholders’ equity (deficit):
|
||||||||
Preferred stock, without par value; 1,000,000 shares authorized, none issued and outstanding
|
||||||||
Common stock, without par value; 300,000,000 shares authorized; 13,867,633 shares issued
|
9,862,150
|
9,862,150
|
||||||
Accumulated deficit
|
(8,774,337
|
)
|
(8,780,519
|
)
|
||||
Less treasury stock at cost, 354,300 shares
|
(1,094,517
|
)
|
(1,094,517
|
)
|
||||
Total stockholders’ equity (deficit)
|
(6,704
|
)
|
(12,886
|
)
|
||||
Total liabilities and stockholders’ equity (deficit)
|
$
|
3,913
|
$
|
486
|
Three months ended
June 30,
|
||||||||
2013
|
2012
|
|||||||
Revenues
|
$ | - | $ | - | ||||
Operating expenses:
|
||||||||
General and administrative
|
$ | 4,491 | $ | 4,281 | ||||
Total expenses
|
4,491 | 4,281 | ||||||
Other income
|
15,000 | 0 | ||||||
Net Income (Loss)
|
$ | 10,509 | $ | (4,281 | ) | |||
Basic and Diluted Income (Loss) Per Share
|
(0.00 | ) | (0.00 | ) | ||||
Weighted average shares:
|
||||||||
Basic
|
13,513,333 | 13,533,000 | ||||||
Diluted
|
13,513,333 | 13,533,000 |
Six months ended
June 30,
|
||||||||
2013
|
2012
|
|||||||
Revenues
|
$ | - | $ | - | ||||
Operating expenses:
|
||||||||
General and administrative
|
8,818 | 8,563 | ||||||
Total expenses
|
8,818 | 8,563 | ||||||
Other income
|
15,000 | 0 | ||||||
Net Income (Loss)
|
$ | 6,182 | $ | (8,563 | ) | |||
Basic and Diluted Income (Loss) Per Share
|
(0.00 | ) | (0.00 | ) | ||||
Weighted average shares:
|
||||||||
Basic
|
13,513,333 | 13,371,000 | ||||||
Diluted
|
13,513,333 | 13,371,000 |
Six months ended
June 30,
|
||||||||
2013
|
2012
|
|||||||
Cash flows from operating activities:
|
||||||||
Net income (loss)
|
$
|
6,182
|
$
|
(8,563
|
)
|
|||
Adjustments to reconcile net income (loss) to net cash used in operating activities:
|
||||||||
Changes in operating assets and liabilities:
|
||||||||
Accounts receivable
|
(1,500
|
)
|
0
|
|||||
Accounts payable and accrued liabilities
|
(7,255
|
)
|
(6,669
|
)
|
||||
Net cash used in operating activities
|
(2,573
|
)
|
(15,232
|
)
|
||||
Cash flows from financing activities:
|
||||||||
Issuance of stock for cash
|
0
|
19,000
|
||||||
Loans from officers
|
4,500
|
0
|
||||||
Net cash provided by financing activities
|
4,500
|
19,000
|
||||||
Net increase in cash and cash equivalents
|
1,927
|
3,768
|
||||||
Cash and cash equivalents:
|
||||||||
Beginning of period
|
486
|
4,393
|
||||||
End of period
|
$
|
2,413
|
$
|
8,161
|
Supplemental disclosure of cash flow information:
|
-
|
|||||||
Cash paid during the period for:
|
||||||||
Interest
|
$
|
-
|
$
|
-
|
||||
Income taxes
|
$
|
-
|
$
|
-
|
||||
Supplemental disclosure of non-cash financing activity:
|
||||||||
Repayment of loans from officers through the issuance of common stock
|
$
|
0
|
$
|
5,000
|
31.1
|
CEO Certification Pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934, as Amended
|
31.2
|
CFO Certification Pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934, as Amended
|
32.1
|
CEO Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
|
32.2 | CFO Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
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
|
RELIABILITY INCORPORATED
(Registrant)
|
|||
Dated: July 31, 2013
|
By:
|
/s/ Jay Gottlieb | |
Jay Gottlieb
President and Chief Executive Officer
|
|
/s/ Gregg Schneider | ||
Gregg Schneider | |||
Chief Financial Officer |
1 Year Reliability (PK) Chart |
1 Month Reliability (PK) Chart |
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