U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORMForm 10-Q
[X]☒ QUARTERLY REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES
EXCHANGE ACT OF 1934.1934
For the quarterly period ended: JuneSeptember 30,, 2020
[ ]☐ TRANSITION REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from: ______________ to _______________
333-90031
Commission file number
Northstar Electronics, Inc.Inc.
Exact name of small business issuer as specified in its charter
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Delaware State or other jurisdiction of organization |
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2020 General Booth Blvd, Unit 230,33-0803434
Virginia Beach, VA, USA 23454IRS Employee incorporation or Identification No.
355 Burrard Street, Suite 1000
Vancouver, BC, CanadaV6C 2G8
Address of principal executive offices
(780) 660 0937(778) 838-3313
Issuer's telephone number
NotApplicable
Former name, former address and former fiscal year, if changed since last report
CheckIndicate by check mark whether the issuerregistrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the pastpreceding 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 ☒ No
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). ☐Yes [X] No[ ]☒ No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, aor smaller reporting company, or emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”,filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated | ☐ | Accelerated | ☐ |
Non-accelerated filer | ☒ | Smaller reporting | ☒ |
| Emerging growth company | ☐ |
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act)
[ ]Yes [X]. ☐ Yes ☒ No
Applicable only to issuers involved in bankruptcy proceedings during the preceding five years:
Check whether the registrant filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court.
Yes[ ] No [ ] Not Applicable [X]
Applicable only to corporate issuers:
StateIndicate the number of shares outstanding of each of the issuer’s classes of common equity,stock, as of the latest practicable date.
Common shares as of September 30, 2020: 21, 2021: 127,838,231
Transitional Small Business Disclosure Format (check one):
Yes [ ] No [X]
2
TABLE OF CONTENTS
4 | |
4 | |
Condensed | 4 |
| 5 |
Condensed | 6 |
7 | |
Notes to the | 8 |
Item 2. Management's Discussion and Analysis or Plan of Operation. |
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Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. |
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Item 4. Submission of Matters to a Vote of Security Holders. |
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3
PART I - FINANCIAL INFORMATION
Item 1. Condensed Consolidated Financial Statements
NORTHSTAR ELECTRONICS, INC.
InterimCondensed Consolidated Balance Sheets
U.S. Dollars
| June 30 2020 |
| December 31 2019 | September 30 2020 |
| December 31 2019 | ||||
| unaudited |
| audited | unaudited |
| audited | ||||
Assets |
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Current |
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Cash | $ | 30,567 |
| $ | 40,261 | $ | 26,790 |
| $ | 40,261 |
Total assets | $ | 30,567 |
| $ | 40,261 | |||||
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| $ | 26,790 |
| $ | 40,261 | |||||
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Liabilities |
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Current |
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Accounts payable and accrued liabilities | $ | 1,247,040 |
| $ | 1,220,792 | $ | 1,213,623 |
| $ | 1,220,792 |
Loans payable |
| 442,916 |
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| 442,916 |
| 442,916 |
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| 442,916 |
Due to director |
| 612,642 |
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| 616,159 | |||||
Due to director see Note 4 |
| 612,352 |
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| 616,159 | |||||
Legal liability |
| 3,002,658 |
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| 3,100,221 |
| 3,209,382 |
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| 3,100,221 |
Total liabilities |
| 5,305,256 |
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| 5,380,088 | |||||
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| 5,478,273 |
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| 5,380,088 | |||||
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Stockholders’ Deficit |
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Authorized: |
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200,000,000 Common shares with a par value of $0.0001 each |
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20,000,000 Preferred shares with a par value of $0.0001 each |
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Issued and outstanding: |
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127,838,231 Common shares (127,838,231 - December 31, 2019) |
| 12,784 |
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| 12,784 | |||||
597,716 Preferred series A, B and C shares (597,716 - December 31, 2019) |
| 404,299 |
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| 404,299 | |||||
200,000,000 Common shares authorized, with a par value of $0.0001, 127,838,231 Common shares issued and outstanding (127,838,231 - December 31, 2019) |
| 12,784 |
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| 12,784 | |||||
20,000,000 Preferred shares authorized, with a par value of $0.0001 597,716 Preferred shares issued and outstanding (597,716 - December 31, 2019) |
| 404,299 |
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| 404,299 | |||||
Additional paid-in capital |
| 8,608,875 |
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| 8,608,875 |
| 8,608,875 |
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| 8,608,875 |
Accumulated deficit |
| (14,300,647) |
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| (14,365,785) |
| (14,477,441) |
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| (14,365,785) |
Total stockholders’ deficit |
| (5,274,689) |
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| (5,339,827) | |||||
Total liabilities and stockholders’ deficit | $ | 30,567 |
| $ | 40,261 | |||||
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| (5,451,483) |
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| (5,339,827) | |||||
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| $ | 26,790 |
| $ | 40,261 |
Nature of operations and going concern (note(Note 1)
See notes to the interimcondensed consolidated financial statements
4
NORTHSTAR ELECTRONICS, INC.
InterimCondensed Consolidated Statements of Operations
Three and SixNine Months Ended JuneSeptember 30, 2020 and 2019
Unaudited
U.S. Dollars
| Three Months |
| Six Months | ||||||||
| 2020 |
| 2019 |
| 2020 |
| 2019 | ||||
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EXPENSES |
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Management fees | $ | - |
| $ | 30,000 |
| $ | - |
| $ | 60,000 |
Administrative fees |
| - |
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| 15,000 |
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| 15,000 |
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| 30,750 |
Professional fees |
| 7,482 |
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| (229) |
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| 9,608 |
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| 13,069 |
Foreign exchange (gain) loss |
| 120,191 |
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| 69,602 |
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| (143,293) |
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| 127,489 |
Engineering research and development |
| - |
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| 11,375 |
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| - |
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| 22,625 |
Investor relations |
| - |
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| 3,520 |
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| - |
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| 6,895 |
Interest |
| 23,520 |
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| 24,165 |
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| 47,764 |
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| 48,330 |
Marketing and sales |
| - |
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| - |
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| - |
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| - |
Office |
| 1,623 |
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| 18,026 |
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| 5,783 |
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| 19,944 |
Total expenses (income) |
| 152,816 |
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| 171,459 |
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| (65,138) |
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| 329,102 |
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Net income (loss) for the period | $ | (152,816) |
| $ | (171,459) |
| $ | 65,138 |
| $ | (329,102) |
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Basic and diluted earnings (loss) per common share | $ | (0.00) |
| $ | (0.00) |
| $ | 0.00 |
| $ | (0.00) |
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Weighted average number of shares outstanding |
| 127,838,231 |
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| 127,838,231 |
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| 127,838,231 |
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| 127,838,231 |
| Three Months |
| Nine Months | ||||||||
2020 |
| 2019 |
| 2020 |
| 2019 | |||||
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EXPENSES |
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Management | $ | - |
| $ | 30,000 |
| $ | - |
| $ | 90,000 |
Consulting fees |
| - |
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| 3,550 |
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| - |
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| 3,550 |
Administration |
| - |
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| 15,000 |
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| - |
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| 45,750 |
Professional fees |
| 1 |
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| 2,042 |
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| 9,609 |
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| 15,111 |
Foreign exchange (gain) loss |
| 15,909 |
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| (36,382) |
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| 2,892 |
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| 91,107 |
Engineering and development |
| - |
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| 15,125 |
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| - |
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| 37,750 |
Investor relations |
| 1,110 |
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| - |
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| 1,110 |
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| 6,895 |
Marketing and sales |
| - |
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| - |
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| - |
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| - |
Office and administration |
| 4,767 |
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| 5,774 |
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| 10,550 |
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| 25,718 |
Interest expense |
| 24,731 |
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| 24,165 |
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| 72,495 |
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| 72,495 |
Total expenses |
| 46,518 |
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| 59,274 |
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| 111,656 |
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| 388,376 |
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Net loss for the period | $ | (46,518) |
| $ | (59,274) |
| $ | (111,656) |
| $ | (388,376) |
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Basic and diluted gain (loss) per common share | $ | (0.00) |
| $ | (0.00) |
| $ | (0.00) |
| $ | (0.00) |
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Weighted average number of shares outstanding |
| 127,838,231 |
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| 127,838,231 |
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| 127,838,231 |
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| 127,838,231 |
See notes to the interimcondensed consolidated financial statements
5
NORTHSTAR ELECTRONICS, INC.
InterimCondensed Consolidated Statement of Changes in Stockholders’ Deficit
ThreeNine Months Ended JuneSeptember 30, 2020
Unaudited
U.S. Dollars
| Number of Shares |
| Par Value |
| Additional Paid-In Capital |
| Accumulated Deficit |
| Preferred Shares |
| Total Stockholders’ Deficit |
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Balance December 31, 2019 | 127,838,231 |
| $ 12,784 |
| $ 8,608,875 |
| $ (14,365,785) |
| $ 404,299 |
| $ (5,339,827) |
Net income (loss) | - |
| - |
| - |
| 65,138 |
| - |
| 65,138 |
Balance June 30, 2020 | 127,838,231 |
| $ 12,784 |
| $ 8,608,875 |
| $ (14,300,647) |
| $ 404,299 |
| $ (5,274,689) |
Number of Shares |
| Par Value |
| Additional Paid-In Capital |
| Accumulated Deficit |
| Preferred Shares |
| Total Stockholders’ Deficit | |
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Balance December 31, 2019 | 127,838,231 |
| $12,784 |
| $8,608,875 |
| $(14,365,785) |
| $404,299 |
| $(5,339,827) |
Net loss | - |
| - |
| - |
| (111,656) |
| - |
| (111,656) |
Balance September 30, 2020 | 127,838,231 |
| $12,784 |
| $8,608,875 |
| $(14,477,441) |
| $404,299 |
| $(5,451,483) |
See notes to the interimcondensed consolidated financial statements
6
NORTHSTAR ELECTRONICS, INC.
InterimCondensed Consolidated Statements of Cash Flows
SixNine Months Ended JuneSeptember 30, 2020 and 2019
Unaudited
U.S. Dollars
| 2020 |
| 2019 | ||
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Operating Activities |
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Net income (loss) | $ | 65,138 |
| $ | (329,102) |
Items not involving cash |
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Foreign exchange (gain) loss |
| (145,327) |
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| 122,138 |
Non-cash interest |
| 47,764 |
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| 48,330 |
Changes in non-cash working capital |
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Changes in operating assets and liabilities |
| 26,248 |
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| 30,000 |
Net cash used in operating activities |
| (6,177) |
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| (128,634) |
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Financing Activities |
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Due to directors |
| (3,517) |
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| 40,252 |
Net cash provided by financing activities |
| (3,517) |
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| 40,252 |
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Decrease in cash |
| (9,694) |
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| (88,382) |
Cash, beginning |
| 40,261 |
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| 170,831 |
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Cash, ending | $ | 30,567 |
| $ | 82,449 |
2020 |
| 2019 | |||
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Operating Activities |
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Net loss | $ | (111,656) |
| $ | (388,376) |
Items not involving cash |
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Foreign exchange loss (gain) |
| 36,666 |
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| 86,649 |
Non-cash interest |
| 72,495 |
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| 72,495 |
Non-cash consulting |
| - |
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| - |
Changes in non-cash working capital |
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Changes in operating assets and liabilities |
| (7,169) |
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| 45,000 |
Net cash used in operating activities |
| (9,664) |
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| (184,232) |
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Financing Activities |
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Issuance of common shares for cash (net of costs) |
| - |
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| - |
Loans payable |
| - |
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| - |
Increases in (decrease) to due to directors |
| (3,807) |
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| 66,945 |
Net cash provided by financing activities |
| (3,807) |
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| 66,945 |
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Decrease in cash |
| (13,471) |
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| (117,287) |
Cash, beginning |
| 40,261 |
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| 170,831 |
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Cash, ending | $ | 26,790 |
| $ | 53,544 |
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Non-cash Transactions |
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Shares issued for services | $ | - |
| $ | - |
| $ | - |
| $ | - |
See notes to the interimcondensed consolidated financial statements
7
NORTHSTAR ELECTRONICS, INC.
Notes to InterimCondensed Consolidated Financial Statements
SixNine Months ended JuneEnded September 30, 2020
Unaudited
U.S. Dollars
1. NATURE OF OPERATIONS AND ABILITY TO CONTINUE AS A GOING CONCERN
Northstar Electronics, Inc. (the “Company”) was incorporated on May 11, 1998 in the state of Delaware. The Company is doing research and development on single engine aircrafts for business use.
The Company's business activities are conducted in Canada. However, the financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) with all figures translated into United States dollars for financial reporting purposes.
These unaudited consolidated interim financial statements have been prepared by management in accordance with GAAP for interim financial information, are condensed and do not include all disclosures required for annual financial statements. The organization and business of the Company, accounting policies followed by the Company and other information are contained in the notes to the Company’s audited consolidated financial statements filed as part of the Company’s December 31, 2019 Form 10-K.
The results of operations for the sixnine months ended JuneSeptember 30, 2020 are not necessarily indicative of the results to be expected for the entire fiscal year. The accompanying interim consolidated financial statements have been prepared assuming the Company will continue as a going concern which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. During the sixnine months ended JuneSeptember 30, 2020 the Company incurred a net incomeloss of $65,138$111,656 and at JuneSeptember 30, 2020 had a working capital deficiency of $5,274,689.$5,451,483.
Management has undertaken initiatives for the Company to continue as a going concern,concern; for example: the Company is attempting to secure an equity financing in the short term. Management is unable to predict the results of its initiatives at this time. These factors raise substantial doubt about the ability of the Company to continue as a going concern.
Should management be unsuccessful in its initiative to finance its operations, the Company’s ability to continue as a going concern is not certain. These financial statements do not give effect to any adjustments to the amounts and classifications of assets and liabilities which might be necessary should the Company be unable to continue its operations as a going concern.
Certain of the creditors and the Company have agreed to settle their debts for the issuance of 25,668,720 shares of common stock valued at $358,828. See also Note 4
2. SHARE CAPITAL
WARRANTSCOMMON STOCK
DuringThe Company issued nil shares of common stock during the nine months ended September 30, 2020. See also Note 4
WARRANTS
| Exercise |
| Number of Warrants | ||
Expiry Date | Price |
| 2020 |
| 2019 |
Open(1) | $ 0.50 |
| 389,170 |
| 389,170 |
Open(1) | $ 0.75 |
| 389,170 |
| 389,170 |
Open(2) | $ 0.25 |
| 51,600 |
| 51,600 |
September 30, 2020 | $ 0.05 |
| - |
| 13,134,208 |
Total outstanding and exercisable |
|
| 829,940 |
| 13,964,148 |
Weighted average outstanding life of warrants (years) |
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| Open |
| 0.94 - Open |
(1)These warrants were issued in 2005. The expiry date of the warrants are six months ended June 30, 2020, 1,495,000after the closing bid price for the common stock of the Company has been over $0.65 and $1.00 per share respectively for five consecutive trading days.
(2)These warrants expired unexercised. As at June 30, 2020, there were 13,964,148 warrants outstanding.issued in 2008 and they do not have an expiry date.
8
3. LEGAL LIABILITY
During 2000 to 2008, the Company’s former subsidiaries Northstar Technical Inc. (“NTI”) and Northstar Network Ltd. (“NNL”) received funding from Atlantic Canada Opportunities Agency (“ACOA”) to fund their projects. In accordance with agreements signed between NTI, NNL and the Company, the Company was jointly and severally liable for the obligations. In 2013, ACOA filed claims against NTI, NNL and the Company for repayments of advances due to events of default. The advance and interests ACOA claims totaled CAD$3,079,475 ($2,259,718).3,079,475. Further, the claim amount bears a daily interest of $358CAD$358 from February 15, 2013 to settlement. During the sixnine months ended JuneSeptember 30, 2020, the Company recorded interest expenses of $47,764 (June 30 2019-$48,330)$72,495 (2019: $72,495).
4. RELATED PARTY TRANSACTIONS
During the sixnine months ended JuneSeptember 30, 2020, the Company accrued management fees payable of $nil (2019: $90,000) in total to a director of the Company (June 30, 2019 - $60,000). company.
At JuneSeptember 30, 2020, there is a balance of $612,642$612,352 (December 31, 2019: $616,159) owing to a director of the Company for management fees and expensesexpense reimbursement. These amountsThe amount is included in current liabilities, are not securedunsecured and are without termspayable on demand. The creditor and the Company have agreed to settle this debt for the issuance of repayment.31,000,000 shares of common stock valued at $612,352.
5. NEW ACCOUNTING PRONOUNCEMENTS
Management does not believe that any recently issued but not yet effective accounting pronouncements if currently adopted would have a material effect on the accompanying consolidated financial statements.
5.6. SUBSEQUENT EVENT
InOther than details in Note 4, there have been no transactions outside of normal day to day activities subsequent to September 2020, another 13,134,208 warrants expired unexercised.30, 2020.
9
Item 2. Management's Discussion and Analysis or Plan of Operation.
The following discussion should be read in conjunction with the accompanying unaudited consolidated financial information for the sixthree and nine month periods ended JuneSeptember 30, 2020 and JuneSeptember 30, 2019, prepared by management, and the audited consolidated financial statements for the yeartwelve months ended December 31, 2019 as presented in the Company’s Form 10K and amendments as filed.
Special Note Regarding Forward Looking Statements
Certain statements in this report and elsewhere (such as in other filings by the Company with the Securities and Exchange Commission ("SEC"(“SEC”), press releases, presentations by the Company of its management and oral statements) may constitute "forward-looking statements"“forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates,"“expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” and "should,"“should,” and variations of these words and similar expressions, are intended to identify these forward-looking statements. Actual results may materially differ from any forward-looking statements. Factors that might cause or contribute to such differences include, among others, competitive pressures and constantly changing technology and market acceptance of the Company's products and services. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
The Company’s Services
We continueThe Company has been working to move in a new direction whereby we intendobtain the rights to build our own systems in the civilian aviation sector. We believesector with the belief that this affords improvedwould improve control over ourthe business outcomes.outcomes compared to the contract manufacturing business.
The Company is currentlyhas been working on plansan agreement to obtain ownershippurchase the worldwide rights to manufacture a single engine turbo propTurbo Prop airplane with industrial applications. If successful, we intendapplications from a subsidiary of a large international aerospace company. Unfortunately, the Company was unable to manufactureobtain suitable financing for its projected plans, the airplaneagreement did not materialize and market it internationally. We also intendthe project has been abandoned. The Company has a further agreement to provide Maintenance, Repair and Overhaul (MRO) servicesretain up to a 35% interest in close proximity to customers. The Company’s wholly owned subsidiary, National Five Holding Ltd, is a 95% shareholder of Northstar Sealand Enterprises Ltd. (NSEL). The constituent parts of NSEL have experiencethe project with an engineering firm that has expressed further interest in working on certified commercial aircraft and government military contracts and have access to an established aircraft parts manufacturing facility.the project.
Results of Operations
Comparison of the three and sixnine months ended JuneSeptember 30, 2020 with the three and sixnine months ended JuneSeptember 30, 2019:
Gross revenues from all sources for the three month period ended September 30, 2020 were $0 compared to $0 in the comparative prior three month period. Gross revenues from all sources for the nine month period ended September 30, 2020 were $0 compared to $0 in the comparative prior nine month period. In prior years the Company earned modest consulting fees as the Company continued to reorganize its business.
There was a net loss for the nine month period ended September 30, 2020 of $111,656 compared to a net loss of $388,376 for the nine months ended September 30, 2019. The decrease in the losses is a result of the collapse of its project due to lack of funding.
There was a net loss for the three month period ended JuneSeptember 30, 2020 was $(152,816)of $46,518 compared to a net loss of $(171,459)$59,274 for the three months ended June 30, 2019. The Company reduced its management and administration fees to $nil (JuneSeptember 30, 2019 $45,000) while it searched for new managementdue to conduct its affairs. Aa non cash recovery of foreign exchange during the three months significantly reduced the loss for the period.
exchange. The net income foroperations were otherwise comparable to the six month period ended June 30, 2020 was $65,138, comparedprior year as the Company continued to a net loss of $(329,102) for the six months ended June 30, 2019. The Company reduced its managementreduce office and administration fees to $15,000 (June 30, 2019 $90,750) while it searched for new management to conduct its affairs. A recovery of foreign exchange during the period significantly reduced the loss for the period.expenses as well as engineering and marketing expenses.
Comparison of Financial Position at JuneSeptember 30, 2020 with December 31, 2019
The Company’s working capital deficiency decreasedincreased at JuneSeptember 30, 2020 to $5,274,689$5,451,483 with current liabilities of $5,305,256$5,478,273 which are in excess of current assets of $30,567.$26,790. At December 31, 2019 the
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Company had a working capital deficiency of $5,339,827. See also contingentlegal liabilities, note 3 to the financial statements for the sixnine months ended JuneSeptember 30, 2020.
Critical Accounting Policies and Estimates
We have adopted various accounting policies that govern the application of accounting principles generally accepted in the United States of America in the preparation of our financial statements. Our significant accounting policies are described in the footnotes to our annual financial statements at December 31, 2019. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires us to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes.
Although these estimates are based on our knowledge of current events and actions it may undertake in the future, they may ultimately differ from actual results. Certain accounting policies involve significant judgments and assumptions by us and have a material impact on our financial condition and results. Management believes its critical accounting policies reflect its most significant estimates and assumptions used in the presentation of our financial statements. Our critical accounting policies include revenue recognition, accounting for stock based compensation and the evaluation of the recoverability of long-lived and intangible assets. We do not have off-balance sheet arrangements, financings or other relationships with unconsolidated entities or other persons, also known as “special purpose entities”.
Liquidity and Capital Resources
Cash outflow from operations for the sixnine months ended JuneSeptember 30, 2020 was $(6,177)$9,664 compared to an outflow of cash of $(128,634)$184,232 in the comparative prior sixnine months ended JuneSeptember 30, 2019. During the current period, the Company received $0$nil ($0nil in the comparative prior period) from equity funding and received $0 (received $0 in the comparative period) long term debt leaving cash on hand at JuneSeptember 30, 2020 of $30,567$26,790 compared to cash on hand of $40,261$53,545 at December 31,September 30, 2019. Until the Company receives revenues from its new potential businesscontracts it will be dependent upon equity funding and loan financings to compensate for the outflow of cash anticipated from operations.
At this time, although the Company is in discussions with potential equity investing companies, no commitment for funding has yet been made to the Company.
The Company’s continued operations are dependent upon obtaining revenues from outside sources or raising additional funds through debt or equity financing.
Item 3. Controls and Procedures
(a) Evaluation of disclosure controls and procedures
Based on the evaluation of the Company's disclosure controls and procedures (as defined in Rules 13a-14(c) and 15d-14(c) under the Securities Exchange Act of 1934) as of the date of this Quarterly Report on Form 10-Q, our chief executive officer and chief financial officer has concluded that our disclosure controls and procedures are designed to ensure that the information we are required to disclose in the reports we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms and are operating in an effective manner. The disclosure controls were not effective at JuneSeptember 30, 2020.
(b) Changes in internal controls
There were no changes in our internal controls or in other factors that could affect these controls subsequent to the date of their most recent evaluation.
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PART II - OTHER INFORMATION
No change since previous filing.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
None.Options Granted: Nil
Warrants Issued: Nil
Common Stock Issued: Nil
Preferred Stock Subscribed: Nil
Item 3. Defaults Upon Senior Securities.
No change since previous filing.
Item 4. Submission of Matters to a Vote of Security Holders.
No change since previous filing.
No change since previous filing.
No change since previous filing.
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SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Northstar Electronics, Inc. |
| (Registrant) |
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Howard Nash, President and acting Chief Financial Officer |
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