[X]
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QUARTERLY
REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
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[ ]
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TRANSITION
REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
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Nevada
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63-1205304
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(State
or other jurisdiction
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(IRS
Employer
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of
Incorporation)
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Identification
Number)
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2038
Corte del Nogal, Suite 110
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Carlsbad,
California 92011
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(Address
of principal executive offices)
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760-804-8844
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(Issuer’s
Telephone Number)
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CONDENSED
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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ASSETS
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(unaudited)
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Current
assets
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Other
receivable
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$ 1,333
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$ -
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Total
current assets
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1,333
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-
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TOTAL
ASSETS
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$ 1,333
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$ -
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LIABILITIES
AND STOCKHOLDERS' DEFICIT
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Current
liabilities
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Accounts
payable
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$ 34,040
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$ 37,540
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Related
party paybable
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-
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11,609
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Convertible
notes payable, related party
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84,586
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55,000
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Total
current liabilities
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118,626
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104,149
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TOTAL
LIABILITIES
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118,626
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104,149
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STOCKHOLDERS'
DEFICIT
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Common
stock, 150,000,000 shares authorized, $0.001 par value
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156,817
and 133,915 shares issued and outstanding
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as
of September 30, 2009 and December 31, 2008 respectively.
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157
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134
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Additional
paid-in capital
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11,350,684
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11,350,707
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Deficit
accumulated during the development stage
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(11,468,134)
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(11,454,989)
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TOTAL
STOCKHOLDERS' DEFICIT
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(117,293)
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(104,149)
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TOTAL
LIABILITIES AND STOCKHOLDERS' DEFICIT
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$ 1,333
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$ -
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The
accompanying notes are an integral part of these financial
statements
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COCONNECT,
INC
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CONDENSED
STATEMENTS OF OPERATIONS (UNAUDITED)
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For
the Period
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For
the Period
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Three
months ended September 30,
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Nine
months ended 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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Revenues
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Sales
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$ -
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$ -
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$ -
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$ -
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Total
revenues
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-
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-
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-
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-
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Expenses
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Professional
Fees
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1,333
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-
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7,333
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-
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General
and administrative
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1,310
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10,966
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5,282
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10,966
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Total
operating expenses
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2,643
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10,966
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12,615
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10,966
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Loss
from operations
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(2,643)
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(10,966)
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(12,615)
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(10,966)
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Other
income (expense)
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Interest
expense
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(530)
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-
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(530)
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(187)
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Total
other income (expense)
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(530)
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-
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(530)
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(187)
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Net
Loss before Income Tax
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(3,173)
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(10,966)
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(13,145)
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(11,153)
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Income
Tax
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-
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-
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-
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-
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NET
LOSS
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$ (3,173)
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$ (10,966)
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$ (13,145)
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$ (11,153)
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Basic
and diluted loss
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per
common share
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$ (0.02)
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$ (0.08)
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$ (0.08)
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$ (0.08)
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Weighted
average common
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shares
outstanding (2008 restated for split)
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156,817
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133,915
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156,817
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133,915
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The
accompanying notes are an integral part of these financial
statements
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COCONNECT,
INC
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CONDENSED
STATEMENTS OF CASH FLOWS (UNAUDITED)
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For
the Period
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Nine
months ended September 30,
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2009
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2008
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(unaudited)
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CASH
FLOWS FROM OPERATING ACTIVITIES
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Net
Loss
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$ (13,145)
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$ (11,153)
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Adjustments
to reconcile net loss to net
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cash
used in operating activities:
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Notes
issued for services
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-
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187
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Changes
in operating assets and liabilities:
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Other
receivable increase
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(1,333)
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-
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Accounts
payable increase
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-
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3,500
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Accrued
expenses and interest increase
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13,145
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7,466
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NET
CASH USED IN OPERATING ACTIVITIES
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$ (1,333)
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$ -
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CASH
FLOWS FROM INVESTING ACTIVITIES
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NET
CASH USED IN INVESTING ACTIVITIES
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$ -
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$ -
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CASH
FLOWS FROM FINANCING ACTIVITIES
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Proceeds
from issuance of convertible note
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1,333
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NET
CASH PROVIDED BY FINANCING ACTIVITIES
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$ 1,333
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$ -
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NET
CHANGE IN CASH
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-
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-
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CASH
BALANCES
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Beginning
of period
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-
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-
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End
of period
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$ -
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$ -
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SUPPLEMENTAL
DISCLOSURE:
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Interest
paid
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-
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-
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Income
taxes paid
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-
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-
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NON-CASH
ACTIVITIES:
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Convertible
note issued as a debt settlement
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$ 27,724
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The
accompanying notes are an integral part of these financial
statements
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As
of September 30, 2009
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As
of September 30, 2008
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Gross
proceeds from notes
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$ 84,056
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$ 55,000
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Less:
Principal Payments
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-
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-
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Add:
Accrued Interest
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530
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-
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Carrying
Value of Notes
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$ 84,586
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$ 55,000
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ITEM
3.
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QUANTITATIVE
AND QUALITATIVE DISCLOSURES ABOUT MARKET
RISK
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Ex. #
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Description
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3(i).1
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Certificate
of Incorporation filed as an exhibit to the Company's registration
statement on Form 10SB12G filed on July 29, 1999 and incorporated herein
by reference.
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3(ii).1
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By-Laws
filed as an exhibit to the Company's registration statement on Form
10SB12G filed on July 29, 1999 and incorporated herein by
reference.
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10.1
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Debt
Exchange Agreement between the Company and Noctua Fund Manager, LLC and
related Convertible Promissory Notes
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10.2
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Note
Exchange Agreement between the Company and Noctua Fund, LP and related
Convertible Promissory Notes
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14.1
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CoConnect,
Inc. Code of Ethics filed as an exhibit to our annual report on Form
10-KSB filed on June 19, 2005 and incorporated herein by
reference
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31.1
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Rule
13a-12(a)/15d-14(a) Certification of Chief Executive Officer and Chief
Financial Officer pursuant to 18 U.S.C Section 1350, as adopted pursuant
to Section 302 the Sarbanes-Oxley Act of 2002.
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32.1
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Certification
of Chief Executive Officer and Chief Financial Officer pursuant to 18
U.S.C Section 1350, as adopted pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002.
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COCONNECT,
INC.
/s/ Brad
M. Bingham, Esq.
By: Brad
M. Bingham, Esq.
Its:
Interim Chief Executive Officer and Principal Accounting
Officer
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