We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Shengkai Innovations Inc (CE) | USOTC:VALV | 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% | 0.0001 | 0.00 | 01:00:00 |
Nevada
|
None
|
|
(State or other jurisdiction of
|
(I.R.S. Employer
|
|
incorporation or organization)
|
Identification No.)
|
Large accelerated filer | o | Accelerated filer | o |
Non-accelerated filer | o | Smaller reporting company | x |
(Do not check if a smaller reporting company) |
Index
|
Page
|
||||
Part I.
|
Financial Information
|
||||
Item 1.
|
Financial Statements
|
4 | |||
Balance Sheets as of May 31, 2013 (unaudited) and February 28, 2013.
|
4 | ||||
Statements of Operations for the three months ended May 31, 2013 and 2012 (unaudited), and for the period from May 7, 2010 (Inception) to May 31, 2013 (unaudited).
|
5 | ||||
Statements of Cash Flows for the three months ended May 31, 2013 and 2012 (unaudited), and the period from May 7, 2010 (Inception) through May 31, 2013 (unaudited).
|
6 | ||||
Notes to Financial Statements (unaudited).
|
7 | ||||
Item 2.
|
Management’s Discussion and Analysis of Financial Condition and Results of Operations.
|
13 | |||
Item 3.
|
Quantitative and Qualitative Disclosures About Market Risk.
|
21 | |||
Item 4.
|
Controls and Procedures.
|
21 | |||
Part II.
|
Other Information
|
||||
Item 1.
|
Legal Proceedings.
|
22 | |||
Item 1A.
|
Risk Factors.
|
22 | |||
Item 2.
|
Unregistered Sales of Equity Securities and Use of Proceeds.
|
22 | |||
Item 3.
|
Defaults Upon Senior Securities.
|
22 | |||
Item 4.
|
Mine Safety Disclosures.
|
22 | |||
Item 5.
|
Other Information.
|
22 | |||
Item 6.
|
Exhibits.
|
23 | |||
Signatures
|
24 |
May 31,
2013
(Unaudited)
- $ -
|
February 28, 2013
(Audited)
- $ -
|
|||||||
ASSETS
|
||||||||
Current
|
||||||||
Cash
|
7,803 | 10,740 | ||||||
TOTAL ASSETS
|
7,803 | 10,740 | ||||||
LIABILITIES
|
||||||||
Current
|
||||||||
Accounts payable and accrued liabilities
|
625 | 625 | ||||||
Due to related party
|
34,845 | 34,446 | ||||||
TOTAL LIABILITIES
|
35,470 | 35,071 | ||||||
STOCKHOLDERS’ EQUITY (DEFICIT)
|
||||||||
Authorized:
|
||||||||
75,000,000 common shares
|
||||||||
With a par value of $0.001
|
||||||||
Issued and Outstanding:
|
||||||||
3,160,000 common shares
|
3,160 | 3,160 | ||||||
(February 28, 2013 - 3,160,000)
|
||||||||
Additional paid up capital
|
30,150 | 29,457 | ||||||
Deficit accumulated during
the exploration stage
|
(60,977 | ) | (56,948 | ) | ||||
TOTAL STOCKHOLDERS’ DEFICIT
|
(27,667 | ) | (24,331 | ) | ||||
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT
|
7,803 | 10,740 |
Three months
ended
May 31, 2013
(Unaudited)
- $ -
|
Three months
ended
May 31, 2012
(Unaudited)
- $ -
|
Period from
May 7, 2010
(Inception) to
May 31, 2013
- $ -
|
||||||||||
Expenses
|
||||||||||||
Office and general
|
337 | 4,080 | 15,343 | |||||||||
Professional fees
|
3,000 | 3,000 | 35,621 | |||||||||
Mining costs
|
- | - | 7,703 | |||||||||
Total expenses
|
3,337 | 7,080 | 58,667 | |||||||||
Interest expense
|
693 | 292 | 2,310 | |||||||||
NET LOSS
|
4,030 | 7,372 | 60,977 | |||||||||
Basic and diluted loss per share
|
(0.00 | ) | (0.00 | ) | ||||||||
Weighted average number of common shares outstanding
|
3,160,000 | 3,160,000 |
Three months ended
May 31, 2013
(Unaudited)
- $ -
|
Three months ended
May 31, 2012
(Unaudited)
- $ -
|
Period from May 7, 2010 (Inception) to May 31
,
2013
(Unaudited)
- $ -
|
||||||||||
Cash Flows From Operating Activities
|
||||||||||||
Net loss
|
(4,030 | ) | (7,372 | ) | (60,977 | ) | ||||||
Impairment of mining costs
|
- | - | 7,703 | |||||||||
Imputed interest expense
|
693 | 292 | 2,310 | |||||||||
Net change in non-cash working capital balances:
|
||||||||||||
Accounts payable and accruals
|
- | 1,804 | 625 | |||||||||
Due to related party
|
400 | 9,648 | 34,845 | |||||||||
Net cash provided by (used in) operations
|
(2,937 | ) | 4,372 | (15,494 | ) | |||||||
Cash flows from Investing Activities
|
||||||||||||
Mineral property option
|
- | - | (7,703 | ) | ||||||||
Net cash used in investing activities
|
- | - | (7,703 | ) | ||||||||
Cash Flows From Financing Activities
|
||||||||||||
Capital stock issued
|
- | - | 31,000 | |||||||||
Net cash provided by financing activities
|
- | - | 31,000 | |||||||||
Increase (Decrease) In Cash
|
(2,937 | ) | 4,372 | 7,803 | ||||||||
Cash, beginning
|
10,740 | 684 | - | |||||||||
Cash, ending
|
7,803 | 5,056 | 7,083 | |||||||||
Supplementary Cash Flow Information:
|
||||||||||||
Cash paid for:
|
||||||||||||
Interest
|
- | - | - | |||||||||
Income taxes
|
- | - | - |
Level 1
|
Level 2
|
Level 3
|
||||||||||
May 31, 2013
|
- | - | - | |||||||||
February 28, 2013
|
- | - | - |
-
|
Present (either on the face of the statement where net income is presented or in the notes) the effects on the line items of net income of significant amounts reclassified out of accumulated other comprehensive income - but only if the item reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period; and
|
-
|
Cross-reference to other disclosures currently required under U.S. GAAP for other reclassification items (that are not required under U.S. GAAP) to be reclassified directly to net income in their entirety in the same reporting period. This would be the case when a portion of the amount reclassified out of accumulated other comprehensive income is initially transferred to a balance sheet account (e.g., inventory for pension-related amounts) instead of directly to income or expense.
|
Level 1
|
Level 2
|
Level 3
|
||||||||||
May 31, 2013
|
- | - | - | |||||||||
February 28, 2013
|
- | - | - |
·
|
Present (either on the face of the statement where net income is presented or in the notes) the effects on the line items of net income of significant amounts reclassified out of accumulated other comprehensive income - but only if the item reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period; and
|
·
|
Cross-reference to other disclosures currently required under U.S. GAAP for other reclassification items (that are not required under U.S. GAAP) to be reclassified directly to net income in their entirety in the same reporting period. This would be the case when a portion of the amount reclassified out of accumulated other comprehensive income is initially transferred to a balance sheet account (e.g., inventory for pension-related amounts) instead of directly to income or expense.
|
·
|
Collection, purchase and collation of all relevant geological, geophysical and mining data available;
|
·
|
Re-interpretation of available geophysics to determine location of possible mineralized shears and faults; and
|
·
|
Field mapping and rock chip sampling of the license.
|
·
|
Soil sampling of any significant areas highlighted in Phase 1; and
|
·
|
Drilling of any significant targets generated during Phase 2 work.
|
Proposed Work
|
Amount
|
Cost ($AUD)
|
||||
PHASE 1
|
||||||
Data Collection
|
$ | 5,000.00 | ||||
Re-Interpretation of Geophysical Data
|
$ | 10,000.00 | ||||
Field Mapping
|
5 days @ $500
|
$ | 2,500.00 | |||
Sampling
|
50 samples @ $30
|
$ | 1,500.00 | |||
Travel & Accommodation
|
5 days @ $300
|
$ | 1,500.00 | |||
Report
|
1.5 days @ $1,000
|
$ | 1,500.00 | |||
Administration
|
15 % of costs
|
$ | 3,300.00 | |||
$ | 25,300.00 | |||||
PHASE 2
|
||||||
Soil Sampling
|
5 days @ $750
|
$ | 3,750.00 | |||
Assaying
|
150 samples @ $20
|
$ | 3,000.00 | |||
Ground Geophysics
|
$ | 65,000.00 | ||||
Report
|
1.5 days @ $1,000
|
$ | 1,500.00 | |||
Administration
|
15 % of costs
|
$ | 10,987.50 | |||
$ | 84,237.50 | |||||
PHASE 2
|
||||||
Drilling
|
1,000 meters @ $50
|
$ | 50,000.00 | |||
Assaying
|
1,000 meters @ $30
|
$ | 30,000.00 | |||
Supervision
|
7 days @ $600
|
$ | 4,200.00 | |||
Travel & Accommodation
|
7 days @ $300
|
$ | 2,100.00 | |||
Report
|
1.5 days @ $1,000
|
$ | 1,500.00 | |||
Administration
|
15 % of costs
|
$ | 13,170.00 | |||
$ | 100,970.00 | |||||
TOTAL
|
$ | 210,507.50 |
(10)
|
Exhibits required by Item 601 of Regulation SK.
|
Number
|
Description
|
|
3.1
|
Articles of Incorporation*
|
|
3.2
|
Bylaws*
|
|
31.1
|
Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
31.2
|
Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
32.1
|
Certification of Principal Executive Officer and Principal Financial Officer 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
|
PENOLA INC.
|
|||
(Name of Registrant)
|
|||
Date: July 19, 2013
|
By:
|
/s/ Lena Gencarelli
|
|
Name: Lena Gencarelli
|
|||
Title: President and Chief Executive Officer
(principal financial officer and principal accounting officer)
|
Number
|
Description
|
|
3.1
|
Articles of Incorporation*
|
|
3.2
|
Bylaws*
|
|
31.1
|
Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
31.2
|
Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
32.1
|
Certification of Principal Executive Officer and Principal Financial Officer 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
|
1 Year Shengkai Innovations (CE) Chart |
1 Month Shengkai Innovations (CE) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions