WEB NEWS Auditor trail
Item 4.01. Changes in Registrant’s Certifying Accountant.
Comments & Business Outlook
(Unaudited)
Three Months Ended
March 31, 2016
Three Months Ended
March 31, 2015
Revenue
$ - $ -
Cost of Goods Sold
- -
Gross Profit
- -
Selling and administrative expenses
17,954 42,822
Total expenses
17,954 42,822
Operating loss
(17,954 ) (42,822 )
Other Income (Expense):
Interest Expense
(2,677 ) (2,335 )
Net loss
$ (20,631 ) $ (45,157 )
Loss per share - Basic and Diluted
$ - $ -
Weighted average number of common shares outstanding
46,956,300 46,834,078
Comments & Business Outlook
For the Years Ended December 31, 2015 and 2104
For the Years Ended
December 31,
2015
2014
Revenue
$ - $ -
Cost of Goods Sold
- -
Gross Profit
- -
Selling and administrative expenses
49,570 87,196
Operating loss
(49,570 ) (87,196 )
Other Income (Expense):
Interest Expense – Related Parties
(13,890 ) (12,357 )
Net loss
$ (63,460 ) $ (99,553 )
Loss per share - Basic and Diluted
$ (0.00 ) $ (0.00 )
Weighted average number of common shares outstanding
46,956,300 46,733,834
Management Discussion and Analysis
Selling, general and administrative expenses decreased $37,626 (43.2% for the year ended December 31, 2015 to $49,570 as compared to $87,196 for the year ended December 31, 2014 primarily as a result of a decrease in rent expense and professional fees.
Interest expense increased $1,533 (12.4%) to $13,890 for the year ended December 31, 2015 as compared to $12,357 for the year ended December 31, 2014.
As a result of the above, the Company incurred net loss of $63,460 for the year ended December 31, 2015 as compared to a net loss of $99,553 for the year ended December 31, 2014.
Comments & Business Outlook
For the Three and Nine Month Periods Ended September 30, 2015 and 2014
(Unaudited)
Three Month Periods
Nine Month Periods
2015
2014
2015
2014
Revenue
$ -
$ -
$ -
$ -
Cost of Goods Sold
-
-
-
-
Gross Profit
-
-
-
-
Selling and administrative expenses
2,503
28,725
60,756
64,065
Total expenses of continuing entity
2,503
28,725
60,756
64,065
Operating loss of continuing entity
(2,503 )
(28,725 )
(60,756 )
(64,065 )
Other Income (Expense):
-
-
-
-
Interest Expense
(3,397 )
(2,597 )
(8,107 )
(9,760 )
Total other Income (Expense)
(3,397 )
(2,597 )
(8,107 )
(9,760 )
Net loss from continuing operations
$ (5,960 )
$ (31,322 )
$ (68,863 )
(73,825 )
Loss per share - Basic and Diluted-
$ -
$ -
$ -
$ -
Weighted average number of common shares outstanding
46,956,300
46,956,300
46,956,300
46,916,007
Comments & Business Outlook
ACCUMULATED DURING DEVELOPMENT STAGE
For the Three and Six Month Periods Ended June 30, 2015 and 2014
(Unaudited)
Three Month Periods
Six Month Periods
2015
2014
2015
2014
Revenue
$ - $ - $ - $ -
Cost of Goods Sold
- - - -
Gross Profit
- - - -
Selling and administrative expenses
15,430 25,985 58,253 35,440
Total expenses of continuing entity
15,430 25,985 58,253 35,440
Operating loss of continuing entity
(15,430 ) (25,985 ) (58,253 ) (35,440 )
Other Income (Expense):
Interest Expense
(2,375 ) (2,597 ) (4,710 ) (7,163 )
Net loss from continuing operations
$ (17,805 ) $ (28,582 ) $ (62,963 ) (42,603 )
Loss per share - Basic and Diluted-
$ - $ - $ - $ -
Weighted average number of common shares outstanding
46,956,300 46,956,300 46,956,300 46,897,526
Management Discussion and Analysis
PLAN OF OPERATION
Comments & Business Outlook
ACCUMULATED DURING DEVELOPMENT STAGE
Three Month Periods Ended March 31, 2015 and 2014
(Unaudited)
2015
2014
Revenue
$
-
$
-
Cost of Goods Sold
-
-
Gross Profit
-
-
Selling and administrative expenses
42,822
9,455
Total operating expenses
42,822
9,455
Operating loss
(42,822
)
(9,455
)
Other Income (Expense):
Interest Expense
(2,335
)
(4,566
)
Net loss from continuing operations
$
(45,157
)
$
(14,021
)
Loss per share - Basic and Diluted
$
-
$
-
Weighted average number of common shares outstanding
46,956,300
46,834,078
Management Discussion and Analysis
The net loss from continuing operations for the three months ended March 31, 2015 was $(45,157) compared with $(14,021) for the same period of the prior year. The higher loss is due to increases in administrative expense.
Comments & Business Outlook
Year 2014
Year 2013
Revenue
$
-
$
-
Cost of Goods Sold
-
-
Gross Profit
-
-
Selling and administrative expenses
87,196
27,523
Operating loss
(87,196
)
(27,523
)
Other Income (Expense):
Interest Income
-
-
Other Income
-
-
Interest Expense
(12,357
)
(9,934
)
Net loss
(99,553
)
(37,457
)
Other comprehensive loss:
Foreign currency adjustments
-
(5,244
)
Total comprehensive loss
$
(99,553
)
$
(37,457
)
Loss per share - Basic and Diluted
$
-
$
-
Weighted average number of common shares outstanding
46,926,163
46,733,834
Managment Discussion and Analysis
Results of Operations
Total assets as of December 31, 2014 were $30,280, compared to $25,241 as of December 31, 2013. Total current liabilities as of December 31, 2014 was $271,037 compared to $366,444 at December 31, 2013. The decrease is due to the Company has repaid the debt to Amanasu Corporation.
Comments & Business Outlook
Three Month Periods
Nine Month Periods
December 1, 1997 (Date of Inception of Development Stage) To September 30,
2014
2013
2014
2013
2014
Revenue
$ - $ - $ - $ - $ 124,461
Cost of Goods Sold
- - - - 23,980
Gross Profit
- - - - 100,481
Selling and administrative expenses
28,725 2,454 64,065 18,416 1,224,660
Write off of inventory
- - - - 68,288
Impairment expense
- - - - 103,528
Total expenses of continuing entity
28,725 2,454 64,065 18,416 1,396,476
Operating loss of continuing entity
(28,725 (2,454 ) (64,065 (18,416 ) (1,295,995 )
Other Income (Expense):
Interest Income
- - - - 4
Other Income
- - - - 3,550
Interest Expense
(2,597 ) (2,458 ) (9,760 ) (7,477 ) (34,023 )
Net loss accumulated during development stage of continuing operations
(31,322 ) (4,912 ) (73,825 ) (25,893 ) (1,326,464 )
Net loss accumulated during development stage of discontinued operations
- - - - (450,954 )
Net loss accumulated during development stage
(31,322 ) (4,912 ) (73,825 ) (25,893 ) (1,777,418 )
Other comprehensive loss of discontinued entity:
Foreign currency adjustments
- - - - (74,128 )
Total Comprehensive Loss- continuing operations
(31,322 ) (4,912 ) (73,825 ) (25,893 ) (1,851,546 )
Total comprehensive loss-discontinued entity
- - - - (525,082 )
Total comprehensive loss
$ (31,322 ) $ (4,912 ) $ (73,825 ) $ (25,893 ) $ (2,376,628 )
Loss per share - Basic and Diluted-continuing operations
$ - $ - $ - $ -
Loss per share-basic and diluted – discontinued entity
- - $ - $ -
Weighted average number of common shares outstanding
46,956,300 46,756,300 46,916,007 46,726,263
Management Discussion and Analysis
Comments & Business Outlook
STATEMENTS OF OPERATIONS AND DEFICIT
ACCUMULATED DURING DEVELOPMENT STAGE
For the Three and Six Month Periods Ended June 30, 2014 and 2013, and For the Period
December 1, 1997 (Date of Inception of Development Stage) to June 30,2014
(Unaudited)
December 1, 1997
(Date of Inception of
Three Month Periods
Six Month Periods
Development Stage)
2014
2013
2014
2013
To June 30, 2014
Revenue
$
-
$
-
$
-
$
-
$
124,461
Cost of Goods Sold
-
-
-
-
23,980
Gross Profit
-
-
-
-
100,481
Selling and administrative expenses
25,985
15,961
35,440
15,961
1,196,075
Write off of inventory
-
-
-
-
68,288
Impairment expense
-
-
-
-
103,528
Total expenses of continuing entity
25,985
15,961
35,440
15,961
1,367,851
Operating loss of continuing entity
(25,985
)
(15,961
)
(35,440
)
(15,961
)
(1,267.370
)
Other Income (Expense):
Interest Income
-
-
-
-
4
Other Income
-
-
-
-
3,550
Interest Expense
(2,597
)
(2,508
)
(7,163
)
(5,020
)
(31,426
)
Net loss accumulated during development stage of continuing operations
(28,582
)
(18,469
)
(42,603
)
(20,981
)
(1,295,242
)
Net loss accumulated during development stage of discontinued operations
-
-
-
-
(450,954
)
Net loss accumulated during development stage
(28,582
)
(18,469
)
(42,603
)
(20,981
)
(1,746,196
)
Other comprehensive loss of discontinued entity:
Foreign currency adjustments
-
-
-
-
(74,128
)
Total Comprehensive Loss- continuing operations
(28,582
)
(18,469
)
(42,603
)
(20,981
)
(1,295,242
)
Total comprehensive loss-discontinued entity
-
-
-
-
(525,082
)
Total comprehensive loss
$
(28,582
)
$
(18,469
)
$
(42,603
)
$
(20,981
)
$
(1,820,324
)
Loss per share - Basic and Diluted-continuing entity
$
-
$
-
$
-
$
-
Loss per share-basic and diluted – discontinued entity
-
-
$
-
$
-
Weighted average number of common shares outstanding
46,956,300
46,706,300
46,897,526
46,706,300
Auditor trail
Item 4.01. Changes in Registrant’s Certifying Accountant.
Resignation of Jeffrey & Co.
Auditor trail
Item 4.01. Changes in Registrant’s Certifying Accountant.
On May 17, 2014, the Registrant engaged Michael F. Albanese as the Registrant’s new independent registered public accounting firm. The appointment of Michael F. Albanese was approved by the Registrant’s Board of Directors.
Comments & Business Outlook
CONSOLIDATED STATEMENTS OF OPERATIONS AND DEFICIT
ACCUMULATED DURING DEVELOPMENT STAGE
Three Month Periods Ended March 31, 2014 and 2013, and For the Period
December 1, 1997 (Date of Inception of Development Stage) to March 31,2014
(Unaudited)
2014
2013
December 1, 1997
(Date of Inception of
Development Stage) to
March 31, 2014
Revenue
$
-
$
-
$
124,461
Cost of Goods Sold
-
-
23,980
Gross Profit
-
-
100,481
Selling and administrative expenses
9,455
-
1,170,050
Write off of inventory
-
-
68,288
Impairment expense
-
-
103,528
Total expenses of continuing entity
9,455
-
1,341,866
Operating loss of continuing entity
(9,455
)
-
(1,241.385
)
Other Income (Expense):
Interest Income
-
-
4
Other Income
-
-
3,550
Interest Expense
(4,566
)
(2,512
)
(28,829
)
Net loss accumulated during development stage of continuing operations
(14,021
)
(2,512
)
(1,266,660
)
Net loss accumulated during development stage of discontinued operations
-
-
(450,954
)
Net loss accumulated during development stage
(14,021
)
(2,512
)
(1,717,614
)
Other comprehensive loss: of discontinued entity
Foreign currency adjustments
-
-
(74,128
)
Total Comprehensive Loss- continuing operations
(14,021
)
(2,512
)
( 1,266,660
)
Total comprehensive loss-discontinued entity
-
-
(525,082
)
Total comprehensive loss
(14,021
)
(2,512
)
(1,791,742
)
Loss per share - Basic and Diluted-continuing entity
$
-
$
-
Loss per share-basic and diluted – discontinued entity
$
-
$
-
Weighted average number of common shares outstanding
46,834,078
46,706,300
Management Discussion and Analysis
Financial Results
Total Assets as at March 31, 2014 was $125,310 compared to $25,241 at December 31, 2013.
Total current liabilities as at March 31, 2014 was $280,534 compared to $366,444 at December 31, 2013.
Expenses for the three months ended March 31, 2014 were $9,455 compared to nil for the same period of the prior year.
The net loss from continuing operations for the three months ended March 31, 2014 was $(14,021) compared with $(2,512) for the same period of the prior year. The higher loss is due to increases in administrative expense.
Comments & Business Outlook
CONSOLIDATED STATEMENTS OF OPERATIONS AND DEFICIT
ACCUMULATED DURING DEVELOPMENT STAGE
Year 2013
Year 2012
December 1, 1997
(Date of Inception of
Development Stage) to
December 31, 2013
Revenue
$ - $ - $ 124,461
Cost of Goods Sold
- - 23,980
Gross Profit
- - 100,481
Selling and administrative expenses
27,523 15,641 1,160,595
Write off of inventory
- - 68,288
Impairment expense
- - 103,528
Total expenses of continuing entity
- 15,641 1,332,411
Operating loss of continuing entity
(27,523 ) (15,641 ) (1,231.930 )
Other Income (Expense):
Interest Income
- - 4
Other Income
- - 3,550
Interest Expense
(9,934 ) (9,525 ) (24,263 )
Net Loss accumulated during development stage of continuing entity
(37,457 ) (25,166 ) (1,252,639 )
Net Loss accumulated during development stage of discontinued operation
- (9,234 ) (450,954 )
Net loss accumulated during development stage
(37,457 ) (34,400 ) (1,703,593
Other comprehensive loss:of discontinued entity -
foreign currency adjustments
- (5,244 ) (74,128 )
Total Comprehensive Loss- continuing entity
(37,457 ) (25,166 ) ( 1,252,639 )
Total comprehensive loss-discontinued operations
- (14,478 ) (525,082 )
Total comprehensive loss
$ (37,457 ) $ (39,644 ) $ (1,777,721 )
Loss per share - Basic and Diluted-continuing entity
$ - $ -
Loss per share-basic and diluted – discontinued entity
$ - $ -
Weighted average number of common shares outstanding
46,733,834 46,706,300
Management Discussion and Analysis
Plan Of Operations
The Company is a development stage corporation. It has not commenced its planned operations of manufacturing and marketing technology products. Its operations to date have been limited to conducting various tests on its technologies.
On April 27th, 2009, the Company acquired Amanasu Water Corporation from its brother company Amanasu Environment Corporation. The Company was to assist Amanasu Water Corporation under a new name, Amanasu Support Corporation, to manufacture and market technologies which the Company believes have great market potential. On February 7, 2012, the Company sold its interest in Amanasu Support Corporation and will pursue development opportunities on its own.
The first technology is a fast microbe detection system for processed and unprocessed foods, called Biomonitec Glaze developed by NMG Inc, a Japanese corporation. Traditional microbe level detection systems take at least 24 hours to process; however, this mobile system can process the same information in 15 minutes. The Company is currently searching for investment partners to fund initial sales and marketing efforts.
The second technology is a automated personal waste collection and cleaning machine Haruka (formerly "Heartlet"), developed by Nanomax Corporation in Japan. The Haruka is a machine used in retirement homes, hospitals, and even in private residences. The Haruka allows the patient maximum comfort. The Haruka lowers the burden on the caretaker with an automated cleaning system. This machine is the only machine in its class to have a 90% government rebate, which the company believes makes the technology, extremely competitive even in the current global economic crisis. The company is seeking, manufacturing partners.
The Company will also be concentrating its capital raising efforts to enter into the NASDAQ Global Market. The Company's target in the next two years is to raise $30,000,000.
Other than the provision of alternating business planning costs discussed above, the Company's cash requirements for the next 12 months are estimated to be $165,000. This amount is comprised of the following estimate expenditures; $100,000 in annual salaries for office personnel, office expenses and travel, $30,000 for rent, $20,000 for professional fees, and $15,000 for miscellaneous expenses.
As stated above, the Company can not predict whether or not it will be successful in its capital raising efforts, and, thus, be able to satisfy its cash requirements for the next 12 months. If the Company is unsuccessful in raising at least $300,000, it may not be able to complete its plan of operations as discussed above.
The company is expecting to gain the capital from issuing and selling shares of the Company.
Pump and Dump Watch
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Research
Amanasu Techno Holdings Corporation, a development stage company, focuses on the acquisition of various environmental and other technology licenses. The company owns the rights to manufacture and market Biomonitec Glaze, a microbe detection system for processed and unprocessed foods; and Haruka, an automated personal waste collection and cleaning machine that is used in retirement homes, hospitals, and private residences. It also holds patents related to a high efficiency electrical motor and a high-powered magnet, which are used in connection with an electrical motor scooter. The company was formerly known as Amanasu Technologies Corporation and changed its name to Amanasu Techno Holdings Corporation in October 2007. Amanasu Techno Holdings Corporation was founded in 1997 and is based in New York, New York.
