UNITED
STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
Form
10-Q
R
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QUARTERLY
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF
1934.
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For
the quarterly period ended June 30, 2008
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or
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£
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TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF
1934.
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For
the Transition period from to.
Commission
File Number 001-33544
ADVANCED
TECHNOLOGY ACQUISITION CORP.
(Exact
name of Registrant as specified in its charter)
Delaware
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68-0635064
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(State
or other Jurisdiction of
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(I.R.S.
Employer
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Incorporation
or Organization)
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Identification
Number)
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14
A ACHIMEIR STREET
RAMAT
GAN ISRAEL 52587
Telephone:
011-972-3-751-3707
(Address,
zip code, and telephone number, including
area
code, of registrant’s principal executive office.)
Indicate
by check mark whether the Registrant (1) has filed all reports required to
be
filed by Section 13 and 15(d) of the Securities Exchange Act of 1934 during
the
preceding 12 months (or for such shorter periods that the Registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
Yes
R
No
£
Indicate
by check mark whether the Registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting company
(see
definition of “large accelerated filer,” “accelerated filer” and “smaller
reporting company” in Rule 12b-2 of the Exchange Act).
£
Large
Accelerated Filer
£
Accelerated Filer
R
Non-Accelerated Filer Smaller reporting company
¨
Indicate
by check mark whether the Registrant is a shell company (as defined in Exchange
Act Rule 12b-2).
Yes
R
No
£
As
of
August 12, 2008 there were 26,953,125 shares of Common Stock of the Registrant
outstanding.
ADVANCED
TECHNOLOGY ACQUISITION CORP.
FORM
10-Q
For
the Quarter Ended June 30, 2008
INDEX
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Page
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PART
I. FINANCIAL INFORMATION
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Item
1.
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Financial
Statements (Unaudited)
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3
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Balance
Sheets
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3
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Statements
of Operations
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4
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Statement
of Cash Flows
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5
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Notes
to the Financial Statements
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6-9
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Item
2.
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Management’s
Discussion and Analysis of Financial Condition and Results of
Operations
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10
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Item
3.
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Quantitative
and Qualitative Disclosures About Market Risk
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11
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Item
4.
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Controls
and Procedures
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11
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PART
II. OTHER INFORMATION
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Item
1.
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Legal
Proceedings
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13
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Item
1A.
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Risk
Factors
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Item
2.
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Unregistered
Sales of Equity Securities and Use of Proceeds
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Item
3.
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Defaults
upon Senior Securities
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Item
4.
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Submission
of Matters to a Vote of Security Holders
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Item
5.
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Other
Information
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Item
6.
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Exhibits
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SIGNATURE
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13
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Section
302 certification
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Section
302 certification
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Section
906 certification
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Section
906 certification
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ADVANCED
TECHNOLOGY ACQUISITION CORP.
(A
Development Stage Corporation)
(Unaudited)
Balance
Sheets
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June
30,
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December
31,
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2008
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ASSETS
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Current
assets
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Cash
and cash equivalents
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$
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43,850
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$
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41,869
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Bank
deposit
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1,482,554
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775,000
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Prepaid
expenses
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77,550
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162,150
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Long-term
assets
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Investment
held in escrow (Note 7)
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172,858,221
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171,554,122
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Total
assets
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$
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174,462,175
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$
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172,533,141
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LIABILITIES
AND STOCKHOLDERS’ EQUITY
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Accounts
payable
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$
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316,517
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$
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7
0,011
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Notes
payable, stockholders
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-
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-
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Total
liabilities
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316,517
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70,011
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Commitment
(Note 4)
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Redeemable
common stock (note 5)
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Issued
and outstanding 8,625,000 shares as of
June
30, 2008 (8,625,000 as of December 31, 2007)
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67,807,500
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67,807,500
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67,807,500
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67,807,500
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Stockholders’
equity
(notes 4 & 6)
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Preferred
stock, $0.0001 par value
Authorized
1,000,000 shares; none issued
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Common
stock, $0.0001 par value
Authorized
100,000,000 shares
Issued
and outstanding 18,328,125 shares as of June 30, 2008
(18,328,125
as of December 31, 200
7
)
exclusive of 8,625,000
shares
outstanding classified as redeemable common stock
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1,833
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1,833
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Warrants
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3,625,000
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3,625,000
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Additional
paid-in capital
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98,172,475
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98,172,475
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Retained
earnings (accumulated deficit) during the
development
stage
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4,538,850
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2,856,322
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Total
stockholders’ equity
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106,338,158
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104,655,630
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Total
liabilities and stockholders’ equity
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$
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174,462,175
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$
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172,533,141
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The
accompanying notes are an integral part of these Financial
Statements.
ADVANCED
TECHNOLOGY ACQUISITION CORP.
(A
Development Stage Corporation)
(Unaudited)
Statements
of Operations
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For
the period
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Six
months
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Three
months
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August
24, 2006
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ended
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ended
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(inception)
to
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June
30,
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June
30,
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June
30,
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Operating
and formation costs
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$
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534,202
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$
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5,647
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$
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379,239
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$
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5,647
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$
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814,121
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Financial
income
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2,216,730
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-
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978,272
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-
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5,352,971
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Net
income (loss)
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1,682,528
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(5,647
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)
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599,033
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(5,647
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)
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4,538,850
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Weighted
average shares outstanding (Note 2b)
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26,953,125
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7,170,139
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26,953,125
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8,090,279
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Basic
and diluted earning
Per
share
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$
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0.06
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$
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0.00
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$
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0.02
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$
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0.00
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The
accompanying notes are an integral part of these Financial
Statements.
ADVANCED
TECHNOLOGY ACQUISITION CORP.
(A
Development Stage Corporation)
(Unaudited)
Statement
of Cash Flows
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Six
months ended June 30,
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2008
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2007
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2008
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Cash
flows from operating activities
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Net
income (loss)
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$
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1,682,528
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$
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(5,647
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)
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$
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4,538,850
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Adjustments
to reconcile net income to net cash provided by
operating
activities:
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Interest
receivable from deposits in escrow
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(1,311,653
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)
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-
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(1,765,460
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)
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Changes
in operating assets and liabilities:
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Decrease
(increase) in prepaid expenses
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84,600
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-
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(77,550
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)
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Increase
in accounts payable
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246,506
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5,000
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316,517
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Net
cash provided by (used in) operating activities
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701,981
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(647
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)
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3,012,357
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Cash
flows used in investment activities
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Investment
in bank deposit and escrow
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(700,000
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)
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(169,768,750
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)
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(172,575,315
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)
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Net
cash used in investment activities
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(700,000
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)
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(169,768,750
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)
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(172,575,315
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)
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|
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Cash
flows from financing activities
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|
|
|
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Repayment
of notes to payable to shareholders
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-
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|
-
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(219,000
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)
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Proceeds
from issuance of notes payable to stockholders
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|
-
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|
|
-
|
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|
219,000
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Proceeds
from issuance of shares of common stock, net
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|
|
-
|
|
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166,177,657
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165,981,808
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Proceeds
from issuance of warrants
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|
-
|
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3,625,000
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3,625,000
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|
|
|
|
|
|
|
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Net
cash provided by financing activities
|
|
|
-
|
|
|
169,802,657
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169,606,808
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|
|
|
|
|
|
|
|
|
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Net
increase in cash and cash equivalents
|
|
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1,981
|
|
|
33,260
|
|
|
43,850
|
|
|
|
|
|
|
|
|
|
|
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Cash
and cash equivalents at the beginning of the
period
|
|
|
41,869
|
|
|
5,987
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
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Cash
and cash equivalents at the end of the period
|
|
$
|
43,850
|
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$
|
39,247
|
|
$
|
43,850
|
|
The
accompanying notes are an integral part of these Financial
Statements.
ADVANCED
TECHNOLOGY ACQUISITION CORP.
(A
Development Stage Corporation)
(Unaudited)
Notes
to Financial Statements
NOTE
1
-
ORGANIZATION
AND BUSINESS OPERATIONS
Advanced
Technology Acquisition Corp. (the “Company”) was incorporated in Delaware on
August 24, 2006 as a blank check company whose objective is to effect a merger,
capital stock exchange, asset acquisition, stock purchase or other similar
business combination with a technology or technology-related business that
has
operations or facilities located in Israel, or that intends to establish
operations or facilities in Israel, such as research and development,
manufacturing or executive offices, following its initial business
combination.
At
June
30, 2008, the Company had not yet commenced any operations. All activities
through June 30, 2008 relate to the Company’s formation and the initial public
offering (the “Offering”) described below. The Company has selected December 31
as its fiscal year-end.
On
June
22, 2007 the Company completed the Offering. Substantially all net proceeds
of
the Offering are intended to be generally applied toward consummating a business
combination with a technology or technology-related business that has operations
or facilities located in Israel, or that intends to establish operations
or
facilities in Israel, such as research and development, manufacturing or
executive offices, following the Company’s initial business combination. The
Company’s management has complete discretion in identifying and selecting the
target business. There is no assurance that the Company will be able to
successfully effect a Business Combination. Upon the closing of the Offering,
98.27% or $169,518,750, of the proceeds from the Offering were deposited
in a
trust account (the “Trust Account”) until the earlier of (i) the completion of a
business combination and (ii) liquidation of the Company. The placing of
funds
in the Trust Account may not protect those funds from third party claims
against
the Company. Although the Company will seek to have all vendors, prospective
target businesses or other entities it engages execute agreements with the
Company waiving any right in or to any monies held in the Trust Account,
there
is no guarantee that they will execute such agreements. The remaining net
proceeds (not held in the Trust Account) may be used to pay for business,
legal
and accounting due diligence on prospective acquisitions, and initial and
continuing general and administrative expenses (including formation expenses).
The Company, after signing a definitive agreement for the acquisition of
a
target business, is required to submit such transaction for stockholder
approval. The Company will proceed with the initial business combination
only if
both a majority of the shares of common stock voted by the public stockholders
are voted in favor of the business combination and public stockholders owning
less than 40% of the shares sold in the Offering exercise their conversion
rights described below. All of the Company’s stockholders prior to the Offering,
including all of the officers and directors of the Company (referred to herein
as the initial stockholders), have agreed to vote their founding shares of
common stock in accordance with the vote of the majority in interest of all
other stockholders of the Company (referred to herein as public stockholders)
with respect to any business combination. After consummation of a business
combination, these voting safeguards will no longer be applicable.
With
respect to a business combination which is approved and consummated, the
Company
will offer each of its public stockholders the right to have such stockholder’s
shares of common stock converted into cash if the stockholder votes against
the
business combination. The per share conversion price will equal the amount
in
the Trust Account, calculated as of two business days prior to the consummation
of the proposed business combination, less any remaining tax liabilities
relating to interest income, divided by the number of shares of common stock
held by public stockholders at the consummation of the Offering. Public
stockholders who convert their stock into their share of the trust account
retain their warrants. The Company will not complete any proposed business
combination which our public stockholders owning 40% or more of the shares
sold
in this offering both vote against and exercise their conversion
rights.
ADVANCED
TECHNOLOGY ACQUISITION CORP.
(A
Development Stage Corporation)
(Unaudited)
Notes
to Financial Statements
NOTE
1
-
ORGANIZATION
AND BUSINESS OPERATIONS (Cont.)
The
Company’s Certificate of Incorporation provides for mandatory liquidation of the
Company in the event that the Company does not consummate a Business Combination
within 18 months from the date of the consummation of the Offering, or 24
months
from the consummation of the Offering if a letter of intent, agreement in
principle or definitive agreement has been executed within 18 months after
the
consummation of the Offering and the business combination relating thereto
has
not yet been consummated within such 18-month period. In the event of
liquidation, it is likely that the per share value of the residual assets
remaining available for distribution (including Trust Account assets) will
be
less than the Offering price per share (assuming no value is attributed to
the
warrants contained in the units offered in the Offering discussed in Note
3).
NOTE
2
-
SIGNIFICANT
ACCOUNTING POLICIES
Deferred
income taxes are provided for the differences between the bases of assets
and
liabilities for financial reporting and income tax purposes. A valuation
allowance is established when necessary to reduce deferred tax assets to
the
amount expected to be realized.
Basic
and
diluted earning per share is computed by dividing net income by the
weighted-average number of shares of common stock outstanding during the
period.
The 6,250,000 shares issued to the Company’s initial stockholders were issued
for $0.004 per share, which is considerably less than the Offering per
share price. Under the provisions of FASB No. 128 and SAB Topic 4:D such
shares
have been assumed to be retroactively outstanding for the period since
inception. 26,953,125 options were not included in diluted earnings per share
because the necessary conditions for their exercisability have not been
met.
The
preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America requires management to
make
estimates and assumptions that affect the reported amounts of assets and
liabilities at the date of the financial statements and the reported amounts
of
expenses during the reporting period. Actual results could differ from those
estimates.
|
D.
|
Recently
issued accounting pronouncements
|
Management
does not believe that any recently issued, but not yet effective, accounting
standards if currently adopted would have a material effect on the accompanying
financial statements.
ADVANCED
TECHNOLOGY ACQUISITION CORP.
(A
Development Stage Corporation)
(Unaudited)
Notes
to Financial Statements
NOTE
3
-
PUBLIC
OFFERING
The
Offering called for the Company to offer for public sale 18,750,000 Units
at a
proposed offering price of $8.00 per unit (plus additional 2,812,500 units
solely to cover over-allotments).
Each
unit
consisted of one share of the Company’s common stock and one redeemable common
stock purchase warrant. Each warrant entitles the holder to purchase from
the
Company one share of common stock at an exercise price of $6.00 commencing
the
later of the completion of a business combination and one year from the
effective date of the Offering and expiring four years from the effective
date
of the Offering. The Company may redeem the warrants, at a price of $.01
per
warrant upon 30 days’ notice after the warrants become exercisable, if, and only
if, the last sales price of the Company’s common stock equals or exceeds $11.50
per share for any 20 trading days within a 30 trading day period ending three
business days before the Company sends the notice of redemption. The Company
has
agreed to pay to the underwriter in the Offering an underwriting discount
of
3.25% of the gross proceeds of the Offering and an additional contingent
fee of
3.75% of the gross proceeds of the Offering. Such additional contingent fees
are
payable after the consummation of the initial business combination. The Company
issued additional 3,625,000 warrants to certain of its initial stockholders
(“founder warrants”) in the amount of $3,625,000, which took place in a private
placement simultaneously with the consummation of this offering.
NOTE
4
-
COMMITMENTS
AND CONTINGENCIES
The
Company presently occupies office space provided by certain of the initial
stockholders. Such stockholders have agreed that, until the Company consummates
a business combination, it will make such office space, as well as certain
office and secretarial services, available to the Company, as may be required
by
the Company from time to time. The Company has agreed to pay such stockholders
$10,000 per month for such services commencing on the effective date of the
Offering.
The
initial stockholders will be entitled to make up to two demands that the
Company
register their shares pursuant to an agreement signed in connection with
the
Offering. The holders of the majority of these shares can elect to exercise
these registration rights at any time after the date on which the lock-up
period
expires. In addition, these stockholders have unlimited piggy-back registration
rights on registration statements filed subsequent to such date. The Company
will bear the expenses incurred in connection with the filing of any such
registration statements.
The
Company has sold to the underwriter for $100, as additional compensation,
an
option to purchase up to a total of 1,125,000 units at a price of $8.80 per
unit. The units issuable upon exercise of this option are identical to those
offered by the Company, except that the warrants underlying such units will
expire five years from the date of the Offering
and
will
become exercisable on the later of completion of a business combination and
18
months from the date of the Offering
.
Effective
June 16, 2008 the Company will compensate three newly appointed board
members with $2,000 per month and $500 per meeting attended. Such compensation
is contingent and payable upon
the
consummation of an initial business combination, as approved by a majority
of
the shares of common stock of the Company voted by the Company’s public
stockholders. The compensation expenses have not been recorded in the financial
statements since, as of June 30, 2008, the consummation of a business
combination is not considered probable. The amount that has not been recognized
as of June 30, 2008 is $3,000.
ADVANCED
TECHNOLOGY ACQUISITION CORP.
(A
Development Stage Corporation)
(Unaudited)
Notes
to Financial Statements
NOTE
5
-
REDEEMABLE
COMMON STOCK
The
balance as at June 30, 2008 represents the amount of shares that may be
converted by the stockholders. The amount equals 40% of the proceeds held
in the
Trust Account.
Following
the change in structure of the Offering the Company was granted a right to
cancel up to an aggregate of 1,562,500 shares of common stock held by existing
stockholders in the event that the collective ownership of such persons or
entities exceeded 20.0% following the completion of the Offering and the
exercise of the over-allotment option by the underwriters. In accordance
with
the agreement with the underwriters, this right to cancel shares would only
be
in an amount sufficient to cause the existing stockholders to maintain control
over 20.0% of the Company’s outstanding shares after giving effect to the
Offering and the exercise of the underwriters’ over-allotment option. Upon the
consummation of the Offering, 859,375 of the 1,562,500 were cancelled.
NOTE
6
-
PREFERRED
STOCK
The
Company is authorized to issue 1,000,000 shares of blank check preferred
stock
with such designations, voting and other rights and preferences as may be
determined from time to time by the Board of Directors.
NOTE
7
-
INVESTMENT
HELD IN ESCROW
The
Company accounts for its investments in accordance with SFAS No. 115,
"Accounting for Certain Investments in Debt and Equity Securities" (“SFAS
115”).
The
investment in escrow consists of short maturity tax-exempted municipal bonds.
This investment is classified as available for sale which is recorded at
fair
value, with any unrealized appreciation or depreciation in value recorded
in
Other Comprehensive Income ("OCI"). Interest received during the period is
recognized in earnings. The carrying amount of the investment as of June
30,
2008 approximates its initial cost plus interest received, thus no amounts
recorded in OCI.
ITEM
2.
Management’s
Discussion and Analysis of Financial Condition and Results of
Operations
The
following discussion should be read in conjunction with our Condensed Financial
Statements and footnotes thereto contained in this report.
Forward-Looking
Statements
All
statements other than statements of historical fact included in this Form 10-Q
including, without limitation, statements under “Management’s Discussion and
Analysis of Financial Condition and Results of Operations” regarding our
financial position, business strategy and the plans and objectives of management
for future operations, are forward-looking statements. When used in this Form
10-Q, words such as “anticipate,” “believe,” “estimate,” “expect,” “intend” and
similar expressions, as they relate to us or our management, identify
forward-looking statements. Such forward-looking statements are based on the
beliefs of management, as well as assumptions made by, and information currently
available to, our management. Actual results could differ materially from those
contemplated by the forward-looking statements as a result of certain factors
detailed in our filings with the Securities and Exchange Commission, or SEC.
All
subsequent written or oral forward-looking statements attributable to us or
persons acting on our behalf are qualified in their entirety by this
paragraph.
Overview
We
are a
blank check company organized under the laws of the State of Delaware on August
24, 2006. We were formed for the purpose of effecting a merger, capital stock
exchange, asset acquisition, stock purchase or other similar business
combination with a technology or technology-related business that has operations
or facilities located in Israel, or that intends to establish operations or
facilities in Israel, such as research and development, manufacturing or
executive offices, following our initial business combination. To date, our
efforts have been limited to organizational activities. We have neither engaged
in any operations nor generated any revenues to date.
We
intend
to utilize cash derived from the proceeds of our initial public offering, our
capital stock, debt or a combination of cash, capital stock and debt, in
effecting a business combination.
Results
of Operations
For
the
period August 24, 2006 (inception) to June 30, 2008, we had net income of
$4,583,850 generated from interest earned on the Trust Account.
Net
income for the six months ended June 30, 2008
was
approximately $1,682,528, representing the interest earned on the Trust Account
for such period.
Liquidity
and Capital Resources
We
generated gross proceeds of $176,125,000 from the sale of the units in our
initial public offering and the private placements. After deducting the
underwriting discounts and commissions, non-accountable expense allowance and
the offering expenses, the total net proceeds to us from the offering (including
the underwriters’ over-allotment option) were $163,430,000, of which
$163,050,000 was deposited into the Trust Account at Lehman Brothers Inc.,
maintained by Continental Stock Transfer & Trust Company, acting as trustee,
and the remaining proceeds of $380,000 became available to be used by us to
provide for business, legal and accounting due diligence or prospective business
combinations and continuing general and administrative expenses. In addition,
$6,468,750, representing the deferred underwriting discounts and commissions,
were deposited into the Trust Account for a total of $169,518,750 deposited
into
the Trust Account. The amounts deposited into the Trust Account remain on
deposit in the Trust Account earning interest.
The
funds
held in the Trust Account, other than the deferred underwriting discounts and
commissions, may be used as consideration to pay the sellers of a target
business with which we ultimately complete a business combination. Up to
one-half of the interest earned on the Trust Account, net of taxes, may be
released to us to complete a business combination. Up to one-half of the
interest earned on the Trust Account, net of taxes, may be released to us to
fund our working capital requirements. Any amounts not paid as consideration
to
the sellers of the target business or to the underwriters as deferred
underwriting discounts and commissions may be used to finance the operations
of
the target business.
We
believe that prior to the consummation of a business combination, the $380,000
of proceeds initially held outside of the Trust Account, as well as one-half
of
the interest earned on the Trust Account, net of taxes payable on such interest,
up to a maximum of $2.0 million, will be sufficient to cover our operating
expenses until June 22, 2009 and to cover the expenses incurred in connection
with a business combination. Assuming that a business combination is not
consummated during that time, we anticipate making the following expenditures
during this time period:
·
|
approximately
$1,380,000 of expenses for legal, accounting and other expenses attendant
to the due diligence investigations, structuring and negotiating
of a
business combination, including without limitation third-party fees
for
assisting us in performing due diligence investigations of perspective
target businesses;
|
·
|
approximately
$300,000 of expenses in legal and accounting fees relating to our
SEC
reporting obligations;
|
·
|
approximately
$240,000 of expenses in fees relating to our office space and certain
general and administrative
services;
|
·
|
approximately
$460,000 for general working capital that will be used for miscellaneous
expenses, including reimbursement of any out-of-pocket expenses incurred
by our initial stockholders, directors and officers in connection
with
activities on our behalf, of which approximately $400,000 is for
director
and officer liability and other insurance premiums; and, if we must
dissolve and liquidate, $50,000 to $75,000 for dissolution and liquidation
costs.
|
We
do not
believe we will need to raise additional funds in order to meet the expenditures
required for operating our business. However, we may need to raise additional
funds through a private offering of debt or equity securities if such funds
are
required to consummate a business combination that is presented to us. We would
only consummate such a financing simultaneously with the consummation of a
business combination.
We
have
agreed to pay a monthly fee of $10,000 to LMS Nihul, an affiliate of M.O.T.A.
Holdings Ltd., FSGL Holdings Ltd and OLEV Holdings Ltd, three of our initial
stockholders, for general and administrative services including office space,
utilities and secretarial support. We believe, based on rents and fees for
similar services in Israel, that the fee charged by LMS Nihul is at least as
favorable as we could have obtained from an unaffiliated third
party.
ITEM
3.
Quantitative
and Qualitative Disclosures About Market Risk
Not
applicable.
ITEM
4.
Controls
and Procedures.
(A)
Evaluation
of Disclosure Controls and Procedures
Our
chief
executive officer and chief financial officer have evaluated the effectiveness
of our disclosure controls and procedures (as defined in Rule 13a-15(e) and
15d-15(e)) under the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), as of the end of the period covered by this report. Our chief
executive officer and chief financial officer have concluded that all material
information required to be disclosed by us in this quarterly report on Form
10-Q
was recorded, processed, summarized, reported and properly disclosed in the
time
periods specified in the rules and regulations of the Securities and Exchange
Commission, and that such information was accumulated and communicated to our
management (including our chief executive officer and chief financial officer)
to allow timely decisions regarding required disclosure. Based on their
evaluation, our chief executive officer and chief financial officer have
concluded that, as of June 30, 2008, we are in compliance with Rule 139-15(e)
of
the Exchange Act.
(B)
Changes
in Internal Controls Over Financial Reporting
There
have been no significant changes in our internal controls over financial
reporting during the six months ended June 30, 2008 that have materially
affected or are reasonably likely to materially affect our internal control
over
financial reporting.
ADVANCED
TECHNOLOGY ACQUISITION CORP.
(A
Development Stage Corporation)
(Unaudited)
PART
II. OTHER INFORMATION
ITEM
1.
Legal
Proceedings.
Not
applicable.
Item
1A.
Risk
Factors
The
risk
factors included in our Annual Report on Form 10-K for the fiscal year ended
December 31, 2007 have not materially changed as of June 30, 2008.
ITEM
2.
Unregistered
Sales of Equity Securities and Use of Proceeds
Not
applicable.
ITEM
3.
Defaults
Upon Senior Securities.
Not
applicable.
ITEM
4.
Submission
of Matters to a Vote of Security Holders.
Not
applicable.
ITEM
5.
Other
Information.
Not
applicable.
ITEM
6.
Exhibits.
Exhibits
Exhibit
No.
|
|
Description
of Exhibit
|
31.1
|
|
Certification
of Chief Executive Officer pursuant to Rule 13a-14(a) of the Securities
Exchange Act, as amended
|
|
|
|
31.2
|
|
Certification
of Chief Financial Officer pursuant to Rule 13a-14(a) of the Securities
Exchange Act, as amended
|
|
|
|
32.1
|
|
Section
1350 Certification
|
|
|
|
32.2
|
|
Section
1350 Certification
|
SIGNATURES
Pursuant
to requirements of the Securities Exchange Act of 1934, the registrant has
duly
caused this report to be signed on its behalf by the undersigned thereunto
duly
authorized.
|
ADVANCED
TECHNOLOGY ACQUISITION CORP.
|
|
|
|
DATE:
August 13, 2008
|
By:
|
/
s
/
Ido Bahbut
|
|
|
Ido
Bahbut
Chief
Financial Officer
(principal
financial, accounting officer)
|
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