New World Brands Inc - Amended Quarterly Report of Financial Condition (10QSB/A)
03 Ottobre 2007 - 10:12PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
10-QSB / A
Amendment
No. 1
(Mark
One)
S
|
Quarterly
report pursuant to Section 13 or 15(d) of the Securities Exchange
Act of
1934.
|
For
the quarterly period ended June 30, 2007
£
|
Transition
report under Section 13 or 15(d) of the Securities Exchange Act of
1934
for the transition period from ______ to
______
|
Commission
file number 033-91432
NEW
WORLD BRANDS, INC.
(Exact
name of small business issuer as specified in its charter)
Delaware
02-0401674
(State
or
other jurisdiction
of
(I.R.S. Employer
incorporation
or
organization)
Identification No.)
340
West Fifth Street, Eugene, Oregon 97401
(Address
of principal executive offices)
(541)
868-2900
(Issuer’s
telephone number)
Not
applicable
(Former
name, former address and former fiscal year, if changed since last
report)
Check
whether the issuer: (1) filed all reports required to be filed by Section 13
or
15(d) of the Exchange Act during the past 12 months (or for such shorter period
that the registrant was required to file such reports), and (2) has been subject
to such filing requirements for the past 90 days. Yes
X
No ___
Indicate
by check mark whether the registrant is a shell company (as defined in Rule
12b-2 of the Exchange Act). Yes ___ No
X
Transitional
Small Business Disclosure Format (check one): Yes
___ No
X
EXPLANATORY
NOTE
New
World
Brands, Inc. (the “Company”) is filing this Amendment No. 1 on Form 10-QSB/A
(the “Amendment”) to its Quarterly Report on Form 10-QSB for the quarterly
period ended June 30, 2007, originally filed with the Securities and Exchange
Commission on August 20, 2007 (the “Original Report”) to amend two inadvertent,
typographical errors in the Company’s Condensed Consolidated Balance Sheet. The
amount of “Inventories, net” is $752,208 (not $2,376,072, as specified in the
Original Report). The amount of Assets Held for Sale is $2,376,072 (not
$2,566,475, as specified in the Original Report).
The
Amendment does not amend, update, or change any other items or disclosures
contained in the Original Report.
PART
I - FINANCIAL INFORMATION
Item
1. FINANCIAL STATEMENTS
New
World
Brands, Inc. and Subsidiary
Condensed
Consolidated Balance Sheet
June
30,
2007 (Unaudited)
|
|
June
30, 2007
|
|
|
|
|
|
|
(Unaudited)
|
|
|
|
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Assets
|
|
|
|
|
|
|
Cash
and Cash Equivalents
|
|
$
|
1,419,038
|
|
|
|
|
|
Accounts
Receivable, net
|
|
|
1,341,222
|
|
|
|
|
|
Inventories,
net
|
|
|
752,208
|
|
|
|
|
|
Assets
Held for Sale
|
|
|
2,376,072
|
|
|
|
|
|
Other
Current Assets
|
|
|
544,775
|
|
|
|
|
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Total
Current Assets
|
|
|
6,433,315
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property
and Equipment, net
|
|
|
1,459,764
|
|
|
|
|
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Other
Assets
|
|
|
100,000
|
|
|
|
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Total
Long-Term Assets
|
|
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1,559,764
|
|
|
|
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|
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|
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Total
Assets
|
|
|
7,993,079
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|
|
|
|
|
|
|
|
|
|
|
|
|
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Liabilities
and Stockholders’ Equity
|
|
|
|
|
|
|
|
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Accounts
Payable and Accrued Liabilities
|
|
|
1,135,730
|
|
|
|
|
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Other
Current Liabilities
|
|
|
218,329
|
|
|
|
|
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Total
Current Liabilities
|
|
|
1,354,060
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Long-Term
Debt
|
|
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1,103,942
|
|
|
|
|
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Other
Long-Term Liabilities
|
|
|
96,520
|
|
|
|
|
|
Total
Long-Term Liabilities
|
|
|
1,200,462
|
|
|
|
|
|
|
|
|
|
|
|
|
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Preferred
Stock, $0.01 par value, 1,000 shares authorized, 200 shares designated
as
Series A Convertible Preferred Stock;
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|
|
|
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Series
A Convertible Preferred Stock, $0.01 par value, 200 shares authorized,
0
shares issued and outstanding on June 30, 2007
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-
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Common
Stock, $.01 par value, 600,000,000 shares and 50,000,000 shares
authorized, 420,786,784 shares issued and
outstanding
on June 30, 2007
|
|
|
4,207,868
|
|
|
|
|
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Paid-In
Capital
|
|
|
33,583,486
|
|
|
|
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Accumulated
Deficit
|
|
|
(32,303,501
|
)
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|
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|
|
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|
|
|
|
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Accumulated
Other Comprehensive Loss
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(49,295
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)
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Shareholders’
Equity
|
|
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5,438,557
|
|
|
|
|
|
|
|
|
|
|
|
|
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Total
Liabilities and Shareholders’ Equity
|
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$
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7,993,079
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|
|
|
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The
accompanying notes are an integral part of these condensed consolidated
financial statements.
|
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SIGNATURES
In
accordance with the requirements of the Exchange Act, the registrant caused
this
Amendment No. 1 on Form 10-QSB/A to be signed on its behalf by the undersigned,
thereunto duly authorized.
NEW
WORLD BRANDS,
INC.
Dated: October
3,
2007
By:
/s/
M.
David
Kamrat
M.
David
Kamrat
Chief
Executive
Officer and
Chairman
of the
Board
Dated: October
3,
2007
By:
/s/
Shehryar
Wahid
Shehryar
Wahid
Chief
Financial
Officer
Grafico Azioni New World Brands (CE) (USOTC:NWBD)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni New World Brands (CE) (USOTC:NWBD)
Storico
Da Lug 2023 a Lug 2024