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NEWC > SEC Filings for NEWC > Form 10-K on 16-Apr-2013All Recent SEC Filings

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Form 10-K for NEW COLOMBIA RESOURCES INC


16-Apr-2013

Annual Report


Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations.

The following discussion should be read in conjunction with the consolidated financial statements and notes thereto set forth in Item 7 of this Annual Report. In addition to historical information, this discussion and analysis contains forward-looking statements that involve risks, uncertainties and assumptions, which could cause actual results to differ materially from management's expectations. Factors that could cause differences include, but are not limited to, expected market demand for our products, as well as general conditions of the Internet security marketplace.

The company has moved into the coal industry in Colombia, due to the rising prices in oil worldwide we feel that this industry is beneficial to our company and our strategy to move forward while drawing attention from the public to invest in a promising industry and company.

We are a development stage enterprise. To date we have incurred significant losses from operations and, at December 31, 2012, had an accumulated deficit of approximately $24,716,546. At December 31, 2012 we had $Nil of cash and cash equivalents. In 2003, 2004 and 2005, we raised an aggregate of approximately $3,943,000 in financing to fund our operations. Until such time as we generate sufficient revenues from operations, we will continue to be dependent on raising substantial amounts of additional capital through any one of a combination of debt offerings or equity offerings. There is no assurance that we will be able to raise additional capital when necessary.

Results of Operations

Year Ended December 31, 2012 Compared to Year Ended December 31, 2011

Revenue was $0 for the years ended December 31, 2012 and 2011.

General and administrative expenses were $704,686 and $667,560 for the years ended December 31, 2012 and 2011, respectively.

Net loss decreased to $772,903 for the year ended December 31, 2012 from $2,099,183 for the year ended December 31, 2011 due primarily to the decrease in the loss on derivative liabilities, which was $930,382 during the year ended December 31, 2011, compared to a gain of $93,015 for 2012.

Our revenues and future profitability are substantially dependent on our ability to:

raise substantial amounts of additional capital through any one of a combination of debt offerings or equity offerings, if necessary; and

continue to grow our business through acquisitions.


Liquidity and Capital Resources

Our cash and cash equivalents balance at December 31, 2012 was $0 as compared to $49 at December 31, 2011.

Cash flows used in operating activities was $124,549 for the year ended December 31, 2012 as compared to $112,054 for the year ended December 31, 2011.

Cash flows used in investing activities was $0 for the year ended December 31, 2012 as compared to $45,000 for the year ended December 31, 2011.

Cash flows provided by financing activities was $124,500 for the year ended December 31, 2012 as compared to $154,000 for the year ended December 31, 2011.

General: We are a development stage enterprise. As such, our historical results of operations are unlikely to provide a meaningful understanding of the activities expected to take place over the next twelve months. Our major initiatives through that period are:

furthering the development of our products;

obtaining commercial sales of our products, and continuing our current marketing program; and

seeking acquisitions of additional businesses and assets that will be beneficial to our company and its stockholders.

Since inception, we have primarily funded our operations from private placements of debt and equity. Until such time as we are able to generate adequate revenues we cannot assure that cash from the issuance of debt securities, the exercise of existing warrants and the placements of additional equity securities will be sufficient to fund our long-term research and development and general and administrative expenses.

Off-Balance Sheet Arrangements

None.

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