Add
IGII.OB to Portfolio
Set Alert
Email to a
Friend
| |||
|
|
Quotes & Info
|
| IGII.OB > SEC Filings for IGII.OB > Form 10KSB on 31-Mar-2004 | All Recent SEC Filings |
31-Mar-2004
Annual Report
Plan of Operation
The following discussion of the Company's plan of operation contains forward-looking statements. Forward-looking statements give our current expectations or forecasts of future events. You can identify these statements by the fact that they do not relate strictly to historical or current facts. They use of words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. From time to time, we also may provide forward-looking statements in other materials we release to the public.
Overview
Since the Company disposed of its operating business in 1999 it was seeking to enter into a new business. In November 2003 it entered into a share exchange agreement with The Intelligent Business Systems Group, Inc. as described above. The share exchange agreement closed in February 2004. The Company issued 15,000,000 shares of common stock to the shareholders of The Intelligent Business Systems Group, Inc.
Liquidity and Capital Resources
As of December 31, 2003 the company had no capital or sources of capital available and its independent auditor modified its opinion on the Company's financial statement for the year ended December 31, 2003 to raise substantial doubt concerning its ability to continue as a going concern.
Critical Accounting Policies and Estimates
Financial Reporting Release No. 60, "Cautionary Advice Regarding Disclosure about Critical Accounting Policies" ("FRR 60"), suggests companies provide additional disclosure and commentary on those accounting policies considered most critical. A critical accounting policy is one that is both very important to the portrayal of our financial condition and results, and requires management"s most difficult, subjective or complex judgments. Typically, the circumstances that make these judgments difficult, subjective and/or complex have to do with the need to make estimates about the effect of matters that are inherently uncertain.
|
|