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Share Name | Share Symbol | Market | Type |
---|---|---|---|
SigmaBroadband Company (PK) | USOTC:SGRB | 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% | 0.042 | 0.043 | 0.142 | 0.00 | 12:55:21 |
GEORGIA
|
4899
|
46-1289228
|
|
(State or other jurisdiction of organization)
|
(Primary Standard Industrial Classification Code)
|
(Tax Identification
Number)
|
|
|
|
|
|
2690
Cobb Parkway
Suite
A5-284
Smyrna,
Georgia 30080
Tel:
(800) 545-0010
(Address and telephone number of registrant's executive
office)
|
2690
Cobb Parkway
Suite
A5-284
Smyrna,
Georgia 30080
Tel:
(800) 545-0010
(Name, address and telephone number of agent for
service)
|
Large Accelerated Filer
❒
|
|
Accelerated Filer
❒
|
|
Non-accelerated filer
❒
(Do not check if
asmaller reporting company)
|
|
Smaller reporting company ☒
|
|
|
|
|
|
|
|
|
|
|
|
Page
No.
|
|
|
PART
I - FINANCIAL INFORMATION
|
|
|||||
Item 1.
|
|
Financial
Statements
|
|
|
4
|
|
|
|
Condensed Balance
sheets at June 30, 2016 (unaudited) and December 31,
2015
|
|
|
4
|
|
|
|
Condensed
Statements of Operations (unaudited) For the Six Months Ended June
30, 2016 and 2015
|
|
|
5
|
|
|
|
Condensed
Statements of Cash Flows (unaudited) For the Six Months Ended June
30, 2016 and 2015
|
|
|
6
|
|
|
|
Notes to Condensed
Financial Statements (unaudited), June 30, 2016
|
|
|
7
|
|
Item 2.
|
|
Management's
Discussion and Analysis of Financial Condition and Results of
Operations
|
|
|
14
|
|
Item 3.
|
|
Quantitative and
Qualitative Disclosures About Market Risk
|
|
|
16
|
|
Item 4.
|
|
Controls and
Procedures
|
|
|
17
|
|
PART
II—OTHER INFORMATION
|
|
|||||
Item 1.
|
|
Legal
Proceedings
|
|
|
18
|
|
Item 2.
|
|
Unregistered Sales
of Equity Securities and Use of Proceeds
|
|
|
18
|
|
Item 3.
|
|
Default Upon Senior
Securities
|
|
|
18
|
|
Item 4
|
|
Submission of
Matters to a Vote of Security Shareholders
|
|
|
18
|
|
Item
5.
|
|
Other
Information
|
|
|
18
|
|
Item 6.
|
|
Exhibits
|
|
|
18
|
|
Signatures
|
|
|
19
|
|
ASSETS
|
|
|
|
June
30,
|
December
31,
|
|
2016
|
2015
|
|
(Unaudited)
|
|
Current
Assets:
|
|
|
Cash
and equivalents
|
$
829
|
$
275
|
Total
current assets
|
829
|
275
|
|
|
|
Equipment,
net
|
-
|
-
|
|
|
|
|
|
|
Total
Assets
|
$
829
|
$
275
|
|
|
|
LIABILITIES
AND STOCKHOLDERS' EQUITY
|
|
|
|
|
|
Liabilities
|
|
|
Accounts
payable and accrued expenses
|
$
272,146
|
$
222,884
|
Loans
payable - stockholders
|
35,590
|
28,574
|
Total
current liabilities
|
307,736
|
251,458
|
|
|
|
Note
payable
|
10,000,000
|
10,000,000
|
|
|
|
Commitments
and Contingencies
|
-
|
-
|
|
|
|
Stockholders'
Equity:
|
|
|
Preferred
stock, no par value; 10,000,000 shares authorized, no
shares
|
|
|
issued
and outstanding
|
-
|
-
|
Common
stock, $0.0001 par value; 500,000,000 shares
authorized,
|
|
|
24,724,000
and 24,574,000 shares issued and outstanding,
respectively
|
2,472
|
2,457
|
Additional
paid in capital
|
97,978
|
39,993
|
Common
stock to-be-issued
|
20,000
|
20,000
|
Accumulated
Deficit
|
(10,427,358
)
|
(10,313,633
)
|
|
(10,306,908
)
|
(10,251,183
)
|
|
|
|
Total
Liability and Stockholders' Equity
|
$
828
|
$
275
|
|
2016
|
2015
|
|
|
|
Cash
flows from operating activities:
|
|
|
Net
loss
|
$
(113,725
)
|
$
(565,453
)
|
Adjustments
to reconcile net loss to net cash used
|
|
|
by
operating activities:
|
|
|
Common
stock issued for services
|
50,000
|
-
|
Depreciation
expense
|
-
|
500,000
|
Accounts
payable and accrued expenses
|
54,263
|
42,913
|
Stockholder
Contribution
|
3,000
|
3,000
|
Net
cash used by operating activities
|
(6,462
)
|
(19,540
)
|
|
|
|
Cash
flows from financing activities:
|
|
|
Stockholders'
loans
|
7,016
|
19,162
|
Net
cash provided by financing activities
|
7,016
|
19,162
|
|
|
|
Net
decrease in cash
|
554
|
(378
)
|
Cash
at beginning of period
|
275
|
2,161
|
Cash
at end of period
|
$
829
|
$
1,783
|
|
|
|
Supplemental
cash flow information:
|
|
|
Cash
paid during the period for:
|
|
|
Interest
|
$
-
|
$
-
|
Income
taxes
|
$
-
|
$
-
|
|
|
|
Non-cash
transactions:
|
|
|
Common
Stock Issued To Settle Accounts Payable
|
$
5,000
|
0
|
Forgiven
rent converted to additional paid-in capital
|
$
3,000
|
$
3,000
|
Telecommunications
equipment
|
$
10,000,000
|
$
10,000,000
|
Less:
accumulated depreciation
|
2,000,000
|
2,000,000
|
Less:
impairment
|
8,000,000
|
8,000,000
|
|
|
|
Total
|
$
-
|
$
-
|
|
June
30, 2016
|
December
31, 2015
|
|
|
|
Net
operating loss carryforward
|
$
1,721,000
|
$
1,676,000
|
Valuation
allowance
|
(1,721,000
)
|
(1,676,000
)
|
Deferred
tax asset, net
|
$
-
|
$
-
|
|
|
|
|
|
|
|
June
30, 2016
|
December
31, 2015
|
|
|
|
Statutory
federal income tax rate
|
34
%
|
34
%
|
State
income taxes, net of federal taxes
|
6
%
|
6
%
|
Valuation
allowance
|
(40
)%
|
(40
)%
|
Effective
income tax rate
|
0
%
|
0
%
|
|
|
|
Exhibit
No.
|
|
Description
|
|
|
|
|
Certification by
Chief Executive Officer pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002
|
|
|
Certification by
Chief Executive Officer pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002
|
|
|
Certification by
Chief Financial Officer pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002
|
|
|
Certification by
Chief Financial Officer pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002
|
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