UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
10-Q
x
QUARTERLY REPORT UNDER SECTION 13 OR
15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the
quarter ended September 30, 2009
¨
TRANSITION REPORT UNDER SECTION 13 OR
15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the
transition period from _____ to _____
Commission
File Number:
333-147979
CASEYCORP
ENTERPRISES, INC.
(Exact
name of small business issuer as specified in its charter)
Nevada
(State
of incorporation)
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98-0523910
(IRS
Employer ID Number)
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410 Park Avenue, 15th Floor
New York,
New York 10022
(Address
of principal executive offices)
(888)
251-3422
(Issuer’s
telephone number)
___________________________________________________________________________________
(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 large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting company. See
definitions of “large accelerated filer,” “accelerated filer” and “smaller
reporting company” in Rule 12b-2 of the Exchange Act. (Check one):
Large
accelerated filer
¨
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Accelerated
filer
¨
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Non-accelerated
filer
¨
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Smaller
reporting company
x
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(Do not
check if a smaller reporting company)
Indicate
by check mark whether the registrant is a shell company (as defined in Rule
12b-2 of the Exchange Act).
Yes
o
No
x
As of
November 16, 2009, there were 22,500,000 shares of registrant’s common
stock, par value $0.0001 per share outstanding.
APPLICABLE
ONLY TO REGISTRANTS INVOLVED IN BANKRUPTCY
PROCEEDINGS
DURING THE PRECEDING FIVE YEARS:
Indicate
by check mark whether the registrant has filed all documents and reports
required to be filed by Section 12, 13 or 15(d) of the Securities Exchange Act
of 1934 subsequent to the distribution of securities under a plan confirmed by a
court.
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Page
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PART
I
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Item
1.
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Interim
Financial Statements
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3-8
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Item
2.
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Management’s
Discussion and Analysis or Plan of Operations
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9
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Item
3.
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Quantitative
and Qualitative Disclosures About Market Risk
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10
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Item
4.
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Controls
and Procedures
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10
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PART
II
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Item
1.
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Legal
Proceedings
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11
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Item
IA.
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Risk
Factors
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11
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Item
2.
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Unregistered
Sales of Equity Securities and Use of Proceeds
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11
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Item
3.
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Defaults
Upon Senior Securities
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11
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Item
4.
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Submission
of Matters to a Vote of Security Holders
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11
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Item
5.
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Other
Information
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11
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Item
6.
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Exhibits
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11
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ITEM
1. INTERIM FINANCIAL STATEMENTS
CASEYCORP
ENTERPRISES INC. AND SUBSIDIARY
CONDENSED
CONSOLIDATED BALANCE SHEETS
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September
30,
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December
31,
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2009
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2008
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(Unaudited)
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ASSETS
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CURRENT
ASSETS
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Cash
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$
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271,293
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$
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-
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Accounts
receivable
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643,787
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-
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Prepaid
expenses and other current assets
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9,400
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Total
current assets
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924,480
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-
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Goodwill
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810,000
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-
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Total
assets
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$
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1,734,480
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$
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-
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LIABILITIES
AND STOCKHOLDERS’ EQUITY (DEFICIENCY)
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CURRENT
LIABILITIES
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Accounts
payable and accrued liabilities
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$
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39,110
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$
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12,091
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Accounts
payable - related party
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762,410
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-
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Income
taxes payable
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53,920
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-
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Loan
payable
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4,500
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4,500
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Total
current liabilities
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859,940
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16,591
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COMMITMENT
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STOCKHOLDERS’
EQUITY (DEFICIENCY)
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Preferred
stock, $.0001 par value;
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5,000,000
shares authorized; none issued and outstanding
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-
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-
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Common
stock, $.0001 par value;
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500,000,000
shares authorized; 16,875,000
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and
11,000,000 issued and outstanding, respectively
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1,688
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1,100
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Additional
paid-in capital
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854,362
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44,700
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Accumulated
deficit
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18,490
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(62,391
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)
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Total
stockholders’ equity (deficiency)
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874,540
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(16,591
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)
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Total
liabilities and stockholders’ equity (deficiency)
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$
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1,734,480
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$
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-
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See Notes
to Condensed Consolidated Financial Statements.
CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS
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Nine
Months
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Nine
Months
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Three
Months
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Three
Months
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Ended
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Ended
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Ended
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Ended
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September
30,
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September
30,
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September
30,
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September
30,
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2009
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2008
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2009
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2008
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(Unaudited)
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(Unaudited)
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(Unaudited)
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(Unaudited)
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Revenues
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$
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24,875,458
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$
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-
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$
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16,864,690
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$
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-
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Cost
of sales
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24,635,445
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-
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16,686,188
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-
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Gross
profit
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240,013
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-
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178,502
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-
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General
and administrative expenses
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104,942
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33,904
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79,396
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5,089
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Income
(loss) from operations
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135,071
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(33,904
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)
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99,106
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(5,089
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Interest
expense
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(270
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)
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(102
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)
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(90
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)
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(90
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)
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Income
(loss) before provision of taxes
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134,801
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(34,006
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)
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99,016
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(5,179
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)
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Provision
for income taxes
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53,920
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-
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37,714
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-
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Net
income (loss)
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$
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80,881
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$
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(34,006
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)
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$
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61,302
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$
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(5,179
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)
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Basic
and diluted loss per share:
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$
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0.01
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$
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0.00
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0.00
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$
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0.00
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Weighted
average number of shares outstanding
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Basic
and diluted
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14,100,275
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11,000,000
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16,875,000
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11,000,000
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See Notes
to Condensed Consolidated Financial Statements.
CASEYCORP
ENTERPRISES INC. AND SUBSIDIARY
CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS
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Nine
Months
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Nine
Months
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Ended
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Ended
|
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September
30,
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September 30,
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2009
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2008
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(Unaudited)
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(Unaudited)
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CASH
FLOWS FROM OPERATING ACTIVITIES
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Net
income (loss)
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$
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80,881
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$
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(34,006
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)
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Adjustments
to reconcile net income (loss) to net cash
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provided
by (used in) operating activities:
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Common
stock issued for services rendered
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250
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-
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(Increase)
decrease in operating assets:
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Accounts
receivable
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(643,787
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)
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|
-
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Prepaid
expenses and other current assets
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(9,400
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)
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(Decrease)
increase in operating liabilities:
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Accounts
payable
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27,019
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|
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3,438
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Accounts
payable - related party
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762,410
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|
|
|
-
|
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Income
taxes payable
|
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|
53,920
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|
|
|
-
|
|
|
|
|
|
|
|
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Net
cash provided by (used in) operating activities
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271,923
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(30,568
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)
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CASH
FLOWS FROM FINANCING ACTIVITIES
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Proceeds
from borrowing
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-
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4,500
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|
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Net
cash provided by financing activities
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|
-
|
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4,500
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INCREASE
(DECREASE) IN CASH
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271,923
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(26,068
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)
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CASH
- BEGINNING OF PERIOD
|
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-
|
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26,147
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CASH
- END OF PERIOD
|
|
$
|
271,923
|
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|
$
|
79
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Schedule
of non-cash investing and financing transactions:
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Issuance
of common stock for acquisition of subsidiary
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$
|
810,000
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$
|
-
|
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Supplemental
disclosures of cash flow information:
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Cash
paid for:
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Interest
|
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$
|
-
|
|
|
$
|
-
|
|
Taxes
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|
$
|
-
|
|
|
$
|
-
|
|
See Notes
to Condensed Consolidated Financial Statements.
CASEYCORP
ENTERPRISES, INC.
NOTES
TO UNAUDITED CONDENSED FINANCIAL STATEMENTS
NOTE
1 – GENERAL
Caseycorp
Enterprises, Inc. (the “Company”) was incorporated on February 21, 2007 under
the laws of the State of Nevada. The Company originally planned to focus on
developing and distributing advanced surveillance and security products.
On May 14, 2009, the Company acquired ESM Refiners,
Inc. (“ESM”) a newly organized New York corporation formed to enter into the
business of being a wholesale buyer and seller of gold and diamonds. The Company
acts as a middleman aggregating gold and diamonds, which is purchased primarily
from retail jewelers (who have purchased gold from customers) and selling it to
refiners. Following the consummation of the acquisition, ESM became a
wholly-owned subsidiary of the Company and the Company adopted the business of
ESM.
NOTE
2 – ACQUISITION
On May
14, 2009, pursuant to a Stock Purchase Agreement, the Company acquired
ESM. The total consideration for the acquisition of ESM was 5,625,000
shares of the Company’s common stock valued at $810,000. The fair value of the
acquisition was determined using a discounted cash flow analysis based upon
projected financial information of the ESM business.
The
transaction was accounted for as a purchase and the entire consideration was
allocated to goodwill.
NOTE
3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis
of Presentation
The
accompanying unaudited condensed financial statements of the Company have
been prepared in accordance with U.S. generally accepted accounting principles
for interim financial information and with Rule 8-03 of Regulation S-X.
Accordingly, they do not include all of the information and footnotes required
by generally accepted accounting principles for complete financial statements.
In the opinion of management, all adjustments (consisting of normal recurring
accruals) considered necessary for a fair presentation have been included.
Operating results for the nine months ended September 30, 2009 are not
necessarily indicative of the results that may be expected for the year ending
December 31, 2009. These unaudited financial statements should be read in
conjunction with the audited financial statements and footnotes thereto included
in the Company’s Annual Report on Form 10-K for the year ended December 31,
2008, as filed with the Securities and Exchange Commission on March 30,
2009.
We have
evaluated subsequent events through the date that the financial statements were
issued on November 16, 2009.
Effective
July 1, 2009, the Financial Accounting Standards Board’s (“FASB”) Accounting
Standards Codification (“ASC”) became the single official source of
authoritative, nongovernmental generally accepted accounting principles (“GAAP”)
in the United States. The historical GAAP hierarchy was eliminated
and the ASC became the only level of authoritative GAAP, other than guidance
issued by the Securities and Exchange Commission. Our accounting
policies were not affected by the conversion to ASC. However,
references to specific accounting standards in the footnotes to our consolidated
financial statements have been changed to refer to the appropriate section of
ASC.
Use
of Estimates
These
financial statements and accompanying notes have been prepared in accordance
with accounting principles generally accepted in the United States of America.
The preparation of these financial statements requires management to make
estimates, judgments and assumptions that affect the reported amounts of assets,
liabilities, revenues and expenses. The Company continually evaluates the
accounting policies and estimates we use to prepare the consolidated financial
statements. The Company bases its estimates on historical experiences and
assumptions believed to be reasonable under current facts and circumstances.
Actual amounts and results could differ from these estimates made by
management.
Accounts
Receivable
Accounts
receivable are recorded net of an allowance for doubtful accounts based upon
management’s analysis of the collectivity of the balances. At September
30, 2009, management believed that no allowance was
necessary.
Revenue
Recognition
Revenue
is recognized upon the shipment of merchandise to the customer, subject to the
following criteria: (i) persuasive evidence of an arrangement exists, (ii) the
selling price is fixed and determinable and (iii) no significant obligations
remain to the Company and collection of the related receivable is reasonably
assured.
CASEYCORP
ENTERPRISES, INC.
NOTES
TO UNAUDITED CONDENSED FINANCIAL STATEMENTS
Basic
and Diluted Loss per Common Share
Basic
loss per share is computed by dividing the net loss attributable to the common
stockholders by the weighted average number of shares of common stock
outstanding during the period. Fully diluted loss per share is computed similar
to basic loss per share except that the denominator is increased to include the
number of additional common shares that would have been outstanding if the
potential common shares had been issued and if the additional common shares were
dilutive. There were no dilutive financial instruments issued and outstanding as
of September 30, 2009.
Income
Taxes
The
Company accounts for income taxes using the liability method whereby deferred
tax assets and liability account balances are determined based on differences
between financial reporting and tax bases of assets and liabilities and are
measured using the enacted tax rates and laws that will be in effect when the
differences are expected to reverse. The Company provides a valuation allowance,
if necessary to reduce the amount of deferred tax assets to their estimated
realizable value.
Fair
Value of Financial Instruments
Substantially
all of the Company’s financial instruments, consisting primarily of accounts
receivable, accounts payable and accrued expenses, accounts payable – related
party and loans payable, are carried at, or approximate, fair value because of
their short-term nature or because they carry market rates of
interest.
Goodwill
Goodwill
consists of the excess of cost over net assets acquired of ESM. Goodwill is not
amortized, but is tested at least annually for impairment, or if circumstances
change that will more likely than not reduce the fair value of the reporting
unit below its carrying amount. The Company will perform its first impairment
test in the fourth quarter of 2009.
Recently
Issued Accounting Pronouncements
In
January 2009, the Company adopted ASC 350, “Intangibles – Goodwill and Other”
(“ASC 350”) and ASC 275, “Risks and Uncertainties” (“ASC 275”). ASC
350 and ASC 275 amended the factors an entity should consider in developing
renewal or extension assumptions used in determining the useful life of
recognized intangible assets under ASC 350 and ASC 275. This new
guidance applies prospectively to intangible assets that are acquired
individually or with a group of other assets in business combinations and asset
acquisitions. ASC 350 and ASC 275 did not have an impact on the
Company’s unaudited condensed consolidated financial statements.
In
January 2009, the Company adopted ASC 805, “Business Combinations” (“ASC 805”)
and ASC 810, “Consolidation” (“ASC 810”). ASC 805 changed how
business acquisitions are accounted for and will impact financial statements
both on the acquisition date and in subsequent periods. ASC 810
changed the accounting and reporting for minority interests, which will be
recharacterized as noncontrolling interests and classified as a component of
equity. ASC 805 and ASC 810 were effective for the Company beginning
in the first quarter of 2009. ASC 805 and ASC 810 will only affect
the Company if the Company makes an acquisition after December 31,
2009. For the nine months ended September 30, 2009, neither ASC 805
nor ASC 810 had an impact on the Company’s unaudited condensed consolidated
financial statements.
In October 2009, the FASB issued new standards for revenue
recognition with multiple deliverables. These new standards impact the
determination of when the individual deliverables included in a multiple-element
arrangement may be treated as separate units of accounting. Additionally, these
new standards modify the manner in which the transaction consideration is
allocated across the separately identified deliverables by no longer permitting
the residual method of allocating arrangement consideration. These new standards
are effective for us beginning in the first quarter of fiscal year 2011, however
early adoption is permitted. We do not expect these new standards to
significantly impact our consolidated financial statements.
Management
does not believe that any other recently issued, but not yet effective,
accounting standard if currently adopted would have a material effect on the
accompanying financial statements.
NOTE
4 - DEVELOPMENT STAGE
From
inception through the first quarter of 2009, the Company was in the development
stage as it had not yet commenced planned principal operations. ASC
915 defines a development stage activity as one in which all efforts are devoted
substantially to establishing a new business and even if planned principal
operations have commenced, revenues are insignificant. As of the second
quarter of 2009, commencing with the acquisition of ESM, the Company was no
longer in the development stage.
CASEYCORP
ENTERPRISES, INC.
NOTES
TO UNAUDITED CONDENSED FINANCIAL STATEMENTS
NOTE
5 – ACCOUNTS PAYABLE – RELATED PARTY
On May 14, 2009, the Company entered
into an exclusive purchasing agreement with Ed & Serge Gold and Diamond,
Inc. (“ESGD”), an entity wholly-owned by one of the Company’s stockholders.
Under the agreement, ESGD has agreed not to sell any gold and diamonds to any
other party other than ESM. ESM retains the right, however, to purchase from
other vendors. Under the agreement, ESGD has agreed to invoice the Company at
cost plus .05% on daily sales of up to $250,000 and .025% of daily sales on
amounts over $250,000. The agreement is for five years and automatically renews
for additional one year periods unless notified by either party. Substantially
all of the merchandise purchased that were made by the Company for the nine and
three months ended September 30, 2009 were from ESGD. At September
30, 2009, the Company owed ESGD $762,410
.
NOTE
6 – LOANS PAYABLE
Loans
payable consist of advances, bearing interest at 8% per annum and due on
demand.
NOTE
7 – CAPITAL TRANSACTIONS
In
January 2009, the Company issued 250,000 shares of its common stock to service
providers in consideration of services rendered totaling $250.
On May
14, 2009, the Company issued 5,625,000 shares of its common stock to acquire
ESM. See Note 2.
NOTE
8 – SALES AND MAJOR CUSTOMERS
Two
customers accounted for 79% and 19% of total revenues for the nine months ended
September 30, 2009 and 78% and 21% for the three months then ended. At
September 30, 2009, these two customers accounted for 80% and 20% of
accounts receivable.
NOTE
9 - EMPLOYMENT AGREEMENT
On May
14, 2009, the Company appointed Eduard Musheyev as President. In connection
with his appointment, the Company and Mr. Musheyev entered into a five-year
employment agreement pursuant to which Mr. Musheyev will be paid an annual base
salary of $120,000 provided that, in the event, the Company, as measured on a
year to date basis, has a negative net income, the base salary will be accrued
and not paid until the Company has a positive net income. Mr.
Musheyev is also entitled to bonuses, as determined from time to time by the
Company’s board of directors, based on the Company’s profitability and earnings
goals, as to be determined in a bonus plan to be adopted by the board of
directors.
NOTE
10 – SUBSEQUENT EVENT
On
October 2, 2009, pursuant to an amended stock purchase agreement, the Company
acquired EZSellGold.com, Inc., (“EZSellGold”), from Eduard Musheyev, the
Company’s President and sole Director. EZSellGold is a New York corporation
engaged in the business of purchasing gold and diamonds from consumers. Pursuant
to the agreement, the Company acquired all of the issued and outstanding shares
of EZSellGold, in exchange for 5,625,000 newly issued shares of its common
stock.
ITEM
2. MANAGEMENT’S DISCUSSION AND ANALYSIS OR PLAN OF
OPERATIONS.
As used
in this Form 10-Q, references to the “CaseyCorp,” Company,” “we,” “our” or “us”
refer to CaseyCorp Enterprises, Inc. unless the context otherwise
indicates.
Forward-Looking
Statements
The
following discussion should be read in conjunction with our financial
statements, which are included elsewhere in this Form 10-Q (the “Report”). This
Report contains forward-looking statements which relate to future events or our
future financial performance. In some cases, you can identify forward-looking
statements by terminology such as “may,” “should,” “expects,” “plans,”
“anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or
the negative of these terms or other comparable terminology. These statements
are only predictions and involve known and unknown risks, uncertainties, and
other factors that may cause our or our industry’s actual results, levels of
activity, performance or achievements to be materially different from any future
results, levels of activity, performance or achievements expressed or implied by
these forward-looking statements.
While
these forward-looking statements, and any assumptions upon which they are based,
are made in good faith and reflect our current judgment regarding the direction
of our business, actual results will almost always vary, sometimes materially,
from any estimates, predictions, projections, assumptions or other future
performance suggested herein. The results anticipated by any or all of these
forward-looking statements might not occur. Important factors, uncertainties and
risks that may cause actual results to differ materially from these
forward-looking statements include matters relating to the business and
financial condition of any company we acquire. We undertake no obligation to
publicly update or revise any forward-looking statements, whether as the result
of new information, future events or otherwise. Except as required by
applicable law, including the securities laws of the United States, we do not
intend to update any of the forward-looking statements to conform these
statements to actual results.
Overview
Caseycorp
Enterprises, Inc. (the “Company”) was incorporated on February 21, 2007 under
the laws of the State of Nevada. The Company originally planned to focus on
developing and distributing advanced surveillance and security
products. On May 14, 2009, the Company acquired ESM Refiners,
Inc. (“ESM”) a newly organized New York corporation formed to enter into the
business of being a wholesale buyer and seller of gold and
diamonds. The Company acts as a middleman aggregating gold and
diamonds, which is purchased primarily from retail jewelers (who have purchased
gold from customers) and selling it to refiners at a mark up ranging from .75%
to 1.1%. Following the consummation of the acquisition, ESM
became a wholly-owned subsidiary of the Company and the Company adopted the
business of ESM.
Results
of Operations
Revenues
Revenues
for the nine and three month periods ended September 30, 2009 were $24,875,458
and $16,864,690 respectively. We sell scrap gold primarily to two refiners which
accounted for 79% and 19% of total revenues for the nine months ended September
30, 2009 and 78% and 21% for the three months then ended. The Company had no
revenues in the respective 2008 periods.
Cost
of Sales and Gross Profit
Our cost
of sales represent the cost of purchasing gold which we then aggregate and sell
to refiners. Cost of sales for the nine and three month periods ended
September 30, 2009 were $24,635,445 and $16,686,188
respectively. The gross profit for the nine and three month
periods amounted to .965% and 1.06% of revenue, respectively.
General
and Administrative
General
and administrative expenses for the nine and three month periods ended September
30, 2009 were $104,942 and $79,396 which are primarily rent, payroll and
professional fees. General and administrative expenses for the nine
and three month periods ended September 30, 2008 were $33,904 and $5,089 which
were primarily professional fees incurred to enable the Company to satisfy the
requirements of a reporting company.
Liquidity
and Capital Resources
As of
September 30, 2009, we had cash of $271,293 which was a result of cash provided
exclusively from operating activities. Management believes that cash
on hand, plus anticipated revenue will be sufficient to support our operations
through the next 12 months; provided that, in the event that the Company shall
acquire additional products or subsidiaries, we may require significant amounts
of additional capital sooner than the end of 2009. In such a case, we may seek
to sell additional equity or debt securities or obtain a credit facility. The
sale of additional equity or convertible debt securities could result in
additional dilution to our stockholders. Incurring indebtedness would result in
an increase in our fixed obligations and could result in borrowing covenants
that would restrict our operations. There can be no assurance that financing
will be available in amounts or on terms acceptable to us, if at all. If
financing is not available when required or is not available on acceptable
terms, we may be unable to develop or enhance our products or services, or, we
may potentially not be able to continue business activities. Any of these events
could have a material and adverse effect on our business, results of operations
and financial condition.
On
October 2, 2009, pursuant to an amended stock purchase agreement, the Company
acquired EZSellGold.com, Inc., (“EZSellGold”), from Eduard Musheyev, the
Company’s President and sole Director. EZSellGold is a New York corporation
engaged in the business of purchasing gold and diamonds from consumers. Pursuant
to the agreement, the Company acquired all of the issued and outstanding shares
of EZSellGold, in exchange for 5,625,000 newly issued shares of its common
stock.
The
statement made above relating to the adequacy of our working capital is a
forward-looking statement within the meaning of the Private Securities
Litigation Reform Act of 1995. The statements that express the “belief,”
“anticipation,” “plans,” “expectations,” “will” and similar expressions are
intended to identify forward-looking statements.
Critical
Accounting Policies and Estimates
Our
discussion and analysis of its financial condition and results of operations are
based upon its financial statements, which have been prepared in accordance with
accounting principles generally accepted in the United States. The
preparation of these financial statements requires us to make estimates and
judgments that affect the reported amounts of assets, liabilities, revenues and
expenses, and related disclosure of contingent assets and
liabilities. On an on-going basis, we evaluate our estimates,
including those related to bad debts, income taxes and contingencies and
litigation. We base our estimates on historical experience and on
various other assumptions that are believed to be reasonable under the
circumstances, the results of which form the basis for making judgments about
carrying values of assets and liabilities that are not readily apparent from
other sources. Actual results may differ from these estimates under
different assumptions or conditions.
Off-Balance
Sheet Arrangements
We have
no off-balance sheet arrangements.
ITEM
3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET
RISKS.
Not
applicable.
ITEM
4T. CONTROLS AND PROCEDURES.
Disclosure
Controls and Procedures
We
carried out an evaluation required by Rule 13a-15(b) of the Securities
Exchange Act of 1934 or the Exchange Act under the supervision and with the
participation of our management, including our Principal Executive Officer and
Principal Financial Officer, of the effectiveness of the design and operation of
our disclosure controls and procedures.
Disclosure
controls and procedures are designed with the objective of ensuring that (i)
information required to be disclosed in an issuer’s reports filed under the
Exchange Act is recorded, processed, summarized and reported within the time
periods specified in the SEC rules and forms and (ii) information is accumulated
and communicated to management, including our Principal Executive Officer and
Principal Financial Officer, as appropriate to allow timely decisions regarding
required disclosures.
The
evaluation of our disclosure controls and procedures included a review of our
objectives and processes and effect on the information generated for use in this
Report. This type of evaluation is done quarterly so that the conclusions
concerning the effectiveness of these controls can be reported in our periodic
reports filed with the SEC. We intend to maintain these controls as processes
that may be appropriately modified as circumstances warrant.
Based on
their evaluation, our Principal Executive Officer and Principal Financial
Officer has concluded that our disclosure controls and procedures are effective
in timely alerting them to material information which is required to be included
in our periodic reports filed with the SEC as of the filing of this
Report.
Changes
in Internal Controls over Financial Reporting
There
have been no changes in our internal control over financial reporting (as
defined in Exchange Act Rule 13a-15(f)) during the three months ended September
30, 2009.
PART
II
OTHER
INFORMATION
ITEM
1. LEGAL PROCEEDINGS.
There are
no pending legal proceedings to which the Company is a party or, to the
Company’s knowledge, in which any director, officer or affiliate of the Company,
any owner of record or beneficially of more than 5% of any class of voting
securities of the Company, or security holder is a party adverse to the Company
or has a material interest adverse to the Company. The Company’s property is not
the subject of any pending legal proceedings.
ITEM
1A. RISKS FACTORS.
Not
required of smaller reporting companies.
ITEM
2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF
PROCEEDS.
Unregistered
Sales of Equity Securities
None.
Purchases
of equity securities by the issuer and affiliated purchasers
None.
ITEM
3. DEFAULTS UPON SENIOR SECURITIES.
None.
ITEM
4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
There was
no matter submitted to a vote of security holders during the fiscal quarter
ended September 30, 2009.
ITEM
5. OTHER INFORMATION.
None
ITEM
6. EXHIBITS.
Exhibit
No.
|
|
Description
|
31.1
|
|
PEO
and PFO certification required under Section 302 of the Sarbanes-Oxley Act
of 2002
|
|
|
|
32.1
|
|
PEO
and PFO certification required under Section 906 of the Sarbanes-Oxley Act
of 2002
|
SIGNATURES
In
accordance with to requirements of the Exchange Act, the registrant caused this
report to be signed on its behalf by the undersigned, thereunto duly
authorized.
|
CASEYCORP ENTERPRISES,
INC
.
|
|
|
|
|
|
|
|
Eduard
Musheyev
|
|
|
By:
|
/s/
Eduard Musheyev
|
|
|
Name:
|
Eduard
Musheyev
|
|
|
Title:
|
President,
Chief Executive Officer,
|
|
|
|
and
Director
|
|
|
|
(Principle
Executive, Financial and
|
|
|
|
Accounting
Officer)
|
|
CaseyCorp Enterprises (CE) (USOTC:CCPR)
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CaseyCorp Enterprises (CE) (USOTC:CCPR)
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