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Quotes & Info
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| KHZM.OB > SEC Filings for KHZM.OB > Form 10-K on 28-Oct-2009 | All Recent SEC Filings |
28-Oct-2009
Annual Report
The following discussion of our financial condition and results of operations should be read in conjunction with our financial statements and related notes included under Item 9.01(a) of this current report.
RESULTS OF OPERATIONS
We are still in our development stage and have generated no revenues to date. We incurred operating expenses of $416,476 and $18,819 for the years Ended August 31, 2009 and August 31, 2008, respectively. These expenses consisted of general operating expenses and professional fees incurred in connection with the day to day operation of our business and the preparation and filing of our reports with the Securities and Exchange Commission.
Our net loss from inception through August 31, 2009 was $438,322.
Our auditors have issued a going concern opinion. This means that there is substantial doubt that we can continue as an on-going business for the next twelve months unless we obtain additional capital to pay our bills. This is because we have not generated revenues and no revenues are anticipated until we begin removing and selling minerals. There is no assurance we will ever reach that point.
LIQUIDITY AND CAPITAL RESOURCES
Our cash balance at August 31, 2009 was $1,026 with liabilities of $421,265. In May, 2009, we issued 4,000,000 shares to purchase 100% share capital of Kahzam Inc in the amount of $0.01 per share or $40,000.
If we experience a shortage of funds prior to generating revenue from operations we may utilize funds from our director who has informally agreed to advance funds to allow us to pay for business operations, however, our director has no formal commitment, arrangement or legal obligation to advance or loan funds to us.
PLAN OF OPERATION
The Company is an emerging presence in the global pay per click ("PPC") search engine and Web portal field, utilizing our "Kahzam" trademark. We are headquartered in Boca Raton, Florida with affiliated offices in Phoenix, AZ and we plan to establish offices in New York City, Los Angeles, Washington, D.C., Chicago and Las Vegas within the next twelve months.
We maintain a vast index of Web sites and other online content that is freely available via the search engine to all Internet users. Our automated search technology helps anyone obtain nearly instant access to relevant information from our extensive index.
Our Company is assembling a team of experienced professionals from the world's most respected, top-tier marketing and advertising firms. They exemplify leadership, optimism and determination, and possess the qualities critical to success: a disciplined approach, a focus on accountability, self-confidence, trust and an exceptional capacity to balance short-term results with long-term goals.
INFLATION
The rate of inflation has had little impact on the Company's results of operations and is not expected to have a significant impact on continuing operations
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