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IFDG.OB > SEC Filings for IFDG.OB > Form 10-Q on 19-Nov-2008All Recent SEC Filings

Show all filings for INTERNATIONAL FOOD PRODUCTS GROUP INC | Request a Trial to NEW EDGAR Online Pro

Form 10-Q for INTERNATIONAL FOOD PRODUCTS GROUP INC


19-Nov-2008

Quarterly Report


Item 2. Management's Discussion and Analysis of Financial Condition
and Results of Operations

Results of Operations for the three month periods ended September 30, 2008 and 2007

Net Sales . Net sales for the three month ended September 30, 2008 and 2007were $0 . We had no sales in the current period as we were gearing up with our new business plan.

Cost of Sales . The Cost of Sales for the three month period ended September 30, 2008 and 2007 was $0. .

Selling Expenses . Selling expenses for the three month period ended September 30, 2008, was $0 compared to $0 in the prior period.

General and Administrative expenses . General and Administrative expenses for the three month period ended September 30, 2008, were $387,782 compared to $349,618 in the same period in 2007 which was classified as discontinued operations..The increase was largely due to stock for services expense.

Liquidity and Capital Resources . Since its inception, we have financed our cash requirements from the sale of equity securities, vendor lines of credit and short-term debt.

Critical Accounting Policies

The preparation of financial statements and related disclosure in conformity with accounting principles generally accepted in the United States requires us to make judgments, assumptions, and estimates that affect the amounts reported in the financial statements and accompanying notes. Results of operations could be impacted significantly by judgments, assumptions, and estimates used in the preparation of the financial statements and actual results could differ materially from the amounts reported based on these policies.

Management is of the opinion that our cash on hand and revenues from operations are insufficient to meet our operational needs for the next twelve months. Accordingly, management will rely upon proceeds from debt financing from related and unrelated parties.

Material events and uncertainties. WE DID NOT COMPLETE OUR PROPOSED ACQUISTION IN OCTOBER 2007 AND THE COMPLETION OF THAT TRANSACTION IS SEVERLY IN DOUBT. We continue to attempt to complete the deal but at present we have no source of revenue or funding source with the exception of officer loans and common stock sales.

Certain Trends and Uncertainties:

IFPG has in the past and may in the future make forward-looking statements. Certain of the statements contained in this document involve risks and uncertainties. The future results of IFPG could differ materially from those statements. Factors that could cause or contribute to such differences include, but are not limited to those discussed in this document. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those predicted. Such risks and uncertainties include, but are not limited to the following:

CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

From time to time, the Company will make written and oral forward-looking statements about matters that involve risk and uncertainties that could cause actual results to differ materially from projected results. Important factors that could cause actual results to differ materially include, among others:

· General domestic economic and political conditions
· Changes in laws and government regulations, including without limitation regulations of the Securities and Exchange Commission
· The availability and timing of receipt of necessary outside capital
· Other risk factors described from time to time in 's filings with the Securities and Exchange Commission.

Many of these factors are beyond the Company 's ability to control and predict. Investors are cautioned not to place undue reliance on forward-looking statements. The Company disclaims any intent or obligation to update its forward-looking statements, whether as a result of receiving new information, the occurrence of future events, or otherwise.

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