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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
September 30, 2016
(unaudited) and December 31, 2015
|
|
|
4
|
|
|
|
Condensed
Statements of Operations (unaudited) For the Six Months
Ended
September 30, 2016
and 2015
|
|
|
5
|
|
|
|
Condensed
Statements of Cash Flows (unaudited) For the Six Months
Ended
September 30, 2016
and 2015
|
|
|
6
|
|
|
|
Notes to Condensed
Financial Statements (unaudited),
September 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
|
|
|
September
30,
|
December
31,
|
|
2016
|
2015
|
|
(Unaudited)
|
|
Current
Assets:
|
|
|
Cash
and equivalents
|
$
264
|
$
275
|
Total
current assets
|
264
|
275
|
|
|
|
Equipment,
net
|
-
|
-
|
|
|
|
|
|
|
Total
assets
|
$
264
|
$
275
|
|
|
|
LIABILITIES
AND STOCKHOLDERS' EQUITY
|
|
|
|
|
|
Liabilities
|
|
|
Accounts
payable and accrued expenses
|
$
296,798
|
222,884
|
Loans
payable - stockholders
|
37,014
|
28,574
|
Total
current liabilities
|
333,812
|
251,458
|
|
|
|
Note
payable - long term
|
10,000,000
|
10,000,000
|
|
|
|
Commitments
and Contingencies
|
-
|
-
|
|
|
|
Stockholders'
Equity:
|
|
|
Series
A 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
|
99,478
|
39,993
|
Common
stock to-be-issued
|
20,000
|
20,000
|
Accumulated
deficit
|
(10,455,498
)
|
(10,313,633
)
|
|
(10,333,548
)
|
(10,251,183
)
|
|
|
|
Total
liabilities and stockholders' equity
|
$
264
|
$
275
|
|
For
the Three Months Ended September 30,
|
For
the Nine Months Ended September 30,
|
||
|
2016
|
2015
|
2016
|
2015
|
|
|
|
|
|
Expenses:
|
|
|
|
|
Advertising
and promotion
|
$
-
|
$
-
|
$
-
|
$
70
|
Computer
and internet
|
-
|
30
|
59
|
209
|
Depreciation
|
-
|
250,000
|
-
|
750,000
|
Professional
fees
|
5,609
|
2,035
|
73,836
|
8,461
|
Rent
|
1,500
|
1,500
|
4,500
|
4,500
|
Storage
|
804
|
707
|
2,277
|
2,057
|
Travel
|
-
|
-
|
197
|
1,023
|
Permits
and fees
|
10
|
10
|
10
|
12,560
|
Other
|
217
|
120
|
986
|
975
|
|
8,140
|
254,402
|
81,865
|
779,855
|
|
|
|
|
|
Net
loss before other income, expenses and income taxes
|
(8,140
)
|
(254,402
)
|
(81,865
)
|
(779,855
)
|
|
|
|
|
|
Other
income and (expenses)
|
|
|
|
|
Interest
expense
|
(20,000
)
|
(20,000
)
|
(60,000
)
|
(60,000
)
|
Net
loss before income taxes
|
(28,140
)
|
(274,402
)
|
(141,865
)
|
(839,855
)
|
|
|
|
|
|
Provision
for income taxes
|
-
|
-
|
-
|
-
|
|
|
|
|
|
|
|
|
|
|
Net
loss
|
$
(28,140
)
|
$
(274,402
)
|
$
(141,865
)
|
$
(839,855
)
|
|
|
|
|
|
Basic
and diluted loss per share
|
$
(0.00
)
|
$
(0.01
)
|
$
(0.01
)
|
$
(0.03
)
|
|
|
|
|
|
Basic
and diluted weighted average number
|
|
|
|
|
of
shares outstanding
|
24,724,000
|
24,596,000
|
24,703,562
|
24,590,959
|
|
2016
|
2015
|
|
|
|
Cash
flows from operating activities:
|
|
|
Net
(loss)
|
$
(141,865
)
|
$
(839,855
)
|
Adjustments
to reconcile net loss to net cash used
|
|
|
by
operating activities:
|
|
|
Common
stock issued for services
|
50,000
|
-
|
Depreciation
expense
|
-
|
750,000
|
Accounts
payable and accrued expenses
|
78,914
|
64,799
|
Stockholder
rent payable
|
4,500
|
4,500
|
Net
cash (used in) operating activities
|
(8,451
)
|
(20,556
)
|
|
|
|
Cash
flows from financing activities:
|
|
|
Stockholders'
loans
|
8,440
|
19,162
|
Net
cash provided by financing activities
|
8,440
|
19,162
|
|
|
|
Net
(decrease) increase in cash
|
(11
)
|
(1,394
)
|
Cash
at beginning of period
|
275
|
2,161
|
Cash
at end of period
|
$
264
|
$
767
|
|
|
|
Supplemental
cash flow information:
|
|
|
Cash
paid during the period for:
|
|
|
Interest
|
$
-
|
$
-
|
Income
taxes
|
$
-
|
$
-
|
|
|
|
Non-cash
transactions:
|
|
|
Forgiven
rent converted to additional paid-in capital
|
$
4,500
|
$
4,500
|
Common
stock issued for accounts payable
|
$
5,000
|
$
-
|
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
|
$
-
|
$
-
|
|
September
30,
|
December
31,
|
|
2016
|
2015
|
Net operating loss
carryforward
|
$
1,737,252
|
$
1,676,000
|
Valuation
allowance
|
(1,737,252
)
|
(1,676,000
)
|
Deferred tax asset,
net
|
$
-
|
$
-
|
|
September
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
|
|
|
|
|
||
|
||
|
||
|
|
SIGMABROADBAND
CO.
|
|
|
|
|
|
|
November 2,
2017
|
By:
|
/s/
Jeffery A. Brown
|
|
|
|
Jeffery A. Brown
|
|
|
|
President, Chief
Executive Officer,
and
Director
|
|
1 Year SigmaBroadband (PK) Chart |
1 Month SigmaBroadband (PK) Chart |
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