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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
|
For the quarterly period ended September 30, 2013
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|
[ ]
|
TRANSITION REPORT UNDER SECTION 13 or 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
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For the transition period from _____
to _____.
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RELIABILITY INCORPORATED
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||
(Name of registrant in its charter)
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||
TEXAS
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75-0868913
|
|
(State or other jurisdiction of incorporation or organization)
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(I.R.S. Employer Identification Number)
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53 Forest Avenue, Old Greenwich, Connecticut
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06870
|
|
(Address of principal executive offices)
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(Zip Code)
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(203) 542-7020
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||
(Issuer’s telephone number, including area code)
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||
410 Park Avenue - 15th Floor, New York, NY 91362
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||
(Former name, former address and former fiscal year, if changed since last report.)
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Large accelerated filer [ ]
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Accelerated filer [ ]
|
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Non-accelerated filer [ ]
(Do not check if a smaller reporting company)
|
Smaller reporting company [X]
|
PART I. FINANCIAL INFORMATION
|
||
Item 1.
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Unaudited Financial Statements
|
|
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||
Balance Sheets as of September 30, 2013 and
December 31, 2012
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2
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|
Statements of Operations for the Three Months
Ended September 30, 2013 and 2012
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3
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Statements of Operations for the Nine Months
Ended September 30, 2013 and 2012
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4
|
|
Statements of Cash Flows for the Nine Months ended September 30, 2013 and 2012
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5
|
|
Notes to Unaudited Financial Statements
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6-8
|
|
Item 2.
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Management’s Discussion and Analysis of Financial Condition and Results of Operations
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9-10
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Item 3.
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Quantitative and Qualitative Disclosures About Market Risk
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10
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Item 4.
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Controls and Procedures
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10
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PART II. OTHER INFORMATION
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11
|
|
Signatures
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12
|
|
Exhibits
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13
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Item 1. Financial Statements
|
September 30, 2013
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December 31, 2012
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|||||||
ASSETS
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||||||||
Current assets:
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||||||||
Cash and cash equivalents
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$
|
230
|
$
|
486
|
||||
Total current assets
|
230
|
486
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||||||
Total Assets
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$
|
230
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$
|
486
|
||||
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
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||||||||
Current liabilities:
|
||||||||
Accounts payable and accrued liabilities
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$
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2,288
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$
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10,372
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||||
Loans from officers
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10,000
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3,000
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||||||
Total current liabilities
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12,288
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13,372
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||||||
Stockholders’ equity (deficit):
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||||||||
Preferred stock, without par value; 1,000,000 shares authorized, none issued and outstanding
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||||||||
Common stock, without par value; 300,000,000 shares authorized; 13,867,633 shares issued
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9,862,150
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9,862,150
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||||||
Accumulated deficit
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(8,779,691
|
)
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(8,780,519
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)
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||||
Less treasury stock at cost, 354,300 shares
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(1,094,517
|
)
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(1,094,517
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)
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||||
Total stockholders’ deficit
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(12,058)
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(12.886
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)
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|||||
Total Liabilities and Stockholders’ Deficit
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$
|
230
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$
|
486
|
Three months ended
September 30,
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||||||||
2013
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2012
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|||||||
Revenues
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$
|
-
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$
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-
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||||
Operating expenses:
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||||||||
General and administrative
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$
|
5,354
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$
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4,890
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||||
Total expenses
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5,354
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4,890
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||||||
Operating loss
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(5,354
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)
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(4,890
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)
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||||
Net Loss
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$
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(5,354
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)
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$
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(4,890
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)
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||
Basic and Diluted Loss Per Share
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(0.00
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)
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(0.00
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)
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||||
Weighted average shares:
|
||||||||
Basic
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13,513,333
|
13,513,333
|
||||||
Diluted
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13,513,333
|
13,513,333
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Nine months ended
September 30,
|
||||||||
2013
|
2012
|
|||||||
Revenues
|
|
$
|
-
|
$
|
-
|
|||
Operating expenses:
|
||||||||
General and administrative
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$
|
14,172
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$
|
13,588
|
||||
Total expenses
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14,172
|
13,588
|
||||||
Other income
|
15,000
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0
|
||||||
Net Income (Loss)
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$
|
828
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$
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(13,588
|
)
|
|||
Basic and Diluted Income (Loss) Per Share
|
(0.00
|
)
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(0.00
|
)
|
||||
Weighted average shares:
|
||||||||
Basic
|
13,513,333
|
13,368,889
|
||||||
Diluted
|
13,513,333
|
13,368,889
|
Nine months ended
September 30,
|
||||||||
2013
|
2012
|
|||||||
Cash flows from operating activities:
|
||||||||
Net Income (Loss)
|
$
|
828
|
$
|
(13,588
|
)
|
|||
Adjustments to reconcile net income (loss) to net cash used in operating activities:
|
||||||||
Changes in operating assets and liabilities:
|
||||||||
Accounts payable and accrued liabilities
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(8,084
|
)
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(6,533
|
)
|
||||
Net cash used in operating activities
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(7,256
|
)
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(20,121
|
)
|
||||
Cash flows from financing activities:
|
||||||||
Issuance of stock for cash
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19,000
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|||||||
Loans from officers
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7,000
|
-
|
||||||
Net cash provided by financing activities
|
7,000
|
19,000
|
||||||
Net decrease in cash and cash equivalents
|
(256
|
)
|
(1,121
|
)
|
||||
Cash and cash equivalents:
|
||||||||
Beginning of period
|
486
|
4,393
|
||||||
End of period
|
$
|
230
|
$
|
3,272
|
||||
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
|
-
|
5,000
|
||||||
Item 3. Quantitative and Qualitative Disclosures About Market Risk
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Item 4. Risk Controls and Procedures
|
|
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.
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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.
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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.
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Interactive data files pursuant to Rule 405 of Regulation S-T: (i) the Balance Sheets, (ii) the Statements of Operations, (iii) the Statements of Cash Flows and (iv) the Notes to Consolidated Financial Statements, tagged as blocks of text and in detail (XBRL).
|
RELIABILITY INCORPORATED
(Registrant)
|
||
November 8, 2013
|
/s/ Jeffrey E. Eberwein
|
|
Jeffrey E. Eberwein
|
||
President and Chief Executive Officer
|
||
|
/s/ Jeffrey E. Eberwein
|
|
Jeffrey E. Eberwein
|
||
Chief Financial Officer
|
Exhibit No.
|
Description
|
|
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
|
Interactive data files pursuant to Rule 405 of Regulation S-T: (i) the Balance Sheets, (ii) the Statements of Operations, (iii) the Statements of Cash Flows and (iv) the Notes to Consolidated Financial Statements, tagged as blocks of text and in detail (XBRL).
|
1 Year Reliability (PK) Chart |
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