UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-Q
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended December 31, 2008
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[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period to
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Commission File Number 001-31669
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TARI INC.
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(Exact name of registrant as specified in its charter)
Nevada 98-0339560
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(State or other jurisdiction of incorporation or organization) | (IRS Employer Identification No.) |
1029 Logan Avenue
Toronto, Ontario Canada M4K 3E7
(Address of principal executive offices) (Zip Code)
(416) 406-5502
Registrant’s telephone number, including area code
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(Former name, former address and former fiscal year, if changed since last report)
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 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. [ X ] Yes [ ] 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.
Large accelerated filer | [ ] | Accelerated filer | [ ] |
Non-accelerated filer | [ ] | Smaller reporting company | [ X ] |
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).
[ X ] Yes [ ] No
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. [ ] Yes [ ] No
APPLICABLE ONLY TO CORPORATE ISSUERS:
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.
As of February 13, 2009 there were 3,890,000 shares of $0.001 par value common stock outstanding.
PART I – FINANCIAL INFORMATION
Item 1. Financial Statements
TARI INC.
(A Pre-exploration Stage Company)
INTERIM FINANCIAL STATEMENTS
December 31, 2008
(Stated in US Dollars)
(Unaudited)
TARI INC.
(A Pre-exploration Stage Company)
INTERIM BALANCE SHEETS
December 31, 2008 and March 31, 2008
(Stated in US Dollars)
(Unaudited)
| December 31, | March 31, | |||||||
| ASSETS | 2008 | 2008 | ||||||
| Current | ||||||||
| Cash | $ | 199 | $ | 709 | ||||
| LIABILITIES | ||||||||
| Current | ||||||||
| Accounts payable and accrued liabilities – Note 4 | $ | 32,582 | $ | 30,147 | ||||
| Advances payable – Note 3 | 5,300 | 5,300 | ||||||
| Due to related party – Notes 5 | 117,043 | 96,443 | ||||||
| 154,925 | 131,890 | |||||||
| STOCKHOLDERS’ DEFICIENCY | ||||||||
| Preferred stock, $0.001 par value | ||||||||
| 10,000,000 shares authorized, none outstanding | ||||||||
| Common stock, $0.001 par value | ||||||||
| 100,000,000 shares authorized | ||||||||
| 3,890,000 (March 31, 2008: 3,890,000) shares issued | 3,890 | 3,890 | ||||||
| Additional paid-in capital | 95,384 | 95,384 | ||||||
| Deficit accumulated during the pre-exploration stage | (254,000 | ) | (230,455 | ) | ||||
| (154,726 | ) | (131,181 | ) | |||||
| $ | 199 | $ | 709 | |||||
Ability to Continue as a Going Concern – Note 2
SEE ACCOMPANYING NOTES
TARI INC.
(A Pre-exploration Stage Company)
INTERIM STATEMENTS OF OPERATIONS
for the three and nine months ended December 31, 2008 and 2007 and
for the period from May 2, 2001 (Date of Inception) to December 31, 2008
(Stated in US Dollars)
(Unaudited)
| (Cumulative) | |||||||||||||||||||
| May 2, 2001 | |||||||||||||||||||
| (Date of | |||||||||||||||||||
| Three months ended | Nine months ended | Inception) to | |||||||||||||||||
| December 31, | December 31, | December 31, | |||||||||||||||||
| 2008 | 2007 | 2008 | 2007 | 2008 | |||||||||||||||
| Expenses | |||||||||||||||||||
| Audit and accounting fees | $ | 2,740 | $ | - | $ | 15,720 | $ | 8,365 | $ | 82,599 | |||||||||
| Bank charges | 52 | 46 | 168 | 127 | 1,557 | ||||||||||||||
| Consulting fees | - | - | - | - | 20,500 | ||||||||||||||
| Interest expenses | - | 2,156 | - | 5,903 | 4,774 | ||||||||||||||
| Legal fees | - | - | - | - | 31,668 | ||||||||||||||
| Management fees – Note 4 | 1,500 | 1,500 | 4,500 | 4,500 | 27,000 | ||||||||||||||
| Mineral lease costs | - | - | - | - | 48,637 | ||||||||||||||
| Office expenses | - | - | 50 | - | 11,357 | ||||||||||||||
| Transfer agent and filing fees | 591 | 434 | 3,107 | 1,225 | 41,268 | ||||||||||||||
| Net loss before other item | (4,883 | ) | (4,136 | ) | (23,545 | ) | (20,120 | ) | (269,360 | ) | |||||||||
| Other item | |||||||||||||||||||
| Debt forgiven | - | - | - | - | 15,360 | ||||||||||||||
| Net loss for the period | $ | (4,883 | ) | $ | (4,136 | ) | $ | (23,545 | ) | $ | (20,120 | ) | $ | (254,000 | ) | ||||
| Basic and diluted loss per share | $ | (0.00 | ) | $ | (0.00 | ) | $ | (0.01 | ) | $ | (0.01 | ) | |||||||
| Weighted average number of shares outstanding | 3,890,000 | 3,890,000 | 3,890,000 | 3,890,000 | |||||||||||||||
SEE ACCOMPANYING NOTES
TARI INC.
(A Pre-exploration Stage Company)
INTERIM STATEMENT OF STOCKHOLDERS’ EQUITY (DEFICIENCY)
for the period from May 2, 2001 (Date of Inception) to December 31, 2008
(Stated in US Dollars)
(Unaudited)
| Deficit | |||||||||||||||
| Accumulated | |||||||||||||||
| Additional | During the | ||||||||||||||
| Common Shares | Paid-in | Pre-exploration | |||||||||||||
| Number | Par Value | Capital | Stage | Total | |||||||||||
| Capital stock issued for cash– at $0.01 | 2,500,000 | $ | 2,500 | $ | 22,500 | $ | - | $ | 25,000 | ||||||
| Net loss for the period ended March 31,2002 | - | - | - | (39,696 | ) | (39,696 | ) | ||||||||
| Balance, March 31, 2002 | 2,500,000 | 2,500 | 22,500 | (39,696 | ) | (14,696 | ) | ||||||||
| Capital stock subscribed pursuant to an offering memorandum for cash – at $0.05 | 1,390,000 | 1,390 | 68,110 | - | 69,500 | ||||||||||
| Net loss for the year ended March 31, 2003 | - | - | - | (27,653 | ) | (27,653 | ) | ||||||||
| Balance, March 31, 2003 | 3,890,000 | 3,890 | 90,610 | (67,349 | ) | 27,151 | |||||||||
| Net loss for the year ended March 31, 2004 | - | - | - | (17,858 | ) | (17,858 | ) | ||||||||
| Balance, March 31, 2004 | 3,890,000 | 3,890 | 90,610 | (85,207 | ) | 9,293 | |||||||||
| Net loss for the year ended March 31, 2005 | - | - | - | (24,235 | ) | (24,235 | ) | ||||||||
| Balance, March 31, 2005 | 3,890,000 | 3,890 | 90,610 | (109,442 | ) | (14,942 | ) | ||||||||
| Net loss for the year ended March 31, 2006 | - | - | - | (38,388 | ) | (38,388 | ) | ||||||||
| Balance, March 31, 2006 | 3,890,000 | 3,890 | 90,610 | (147,830 | ) | (53,330 | ) | ||||||||
| Interest contributed | - | - | 4,774 | - | 4,774 | ||||||||||
| Net loss for the year ended March 31, 2007 | - | - | - | (42,022 | ) | (42,022 | ) | ||||||||
| Balance, March 31, 2007 | 3,890,000 | 3,890 | 95,384 | (189,852 | ) | (90,578 | ) | ||||||||
| Net loss for year ended March 31, 2008 | - | - | - | (40,603 | ) | (40,603 | ) | ||||||||
| Balance, March 31, 2008 | 3,890,000 | 3,890 | 95,384 | (230,455 | ) | (131,181 | ) | ||||||||
| Net loss for the period ended December 31,2008 | - | - | - | (23,545 | ) | (23,545 | ) | ||||||||
| Balance, December 31, 2008 | 3,890,000 | $ | 3,890 | $ | 95,384 | $ | (254,000 | ) | $ | (154,726 | ) | ||||
SEE ACCOMPANYING NOTES
TARI INC.
(A Pre-exploration Stage Company)
INTERIM STATEMENTS OF CASH FLOWS
for nine months ended December 31, 2008 and 2007 and
for the period from May 2, 2001 (Date of Inception) to December 31, 2008
(Stated in US Dollars)
(Unaudited)
| (Cumulative) | |||||||||||
| May 2, | |||||||||||
| 2001 (Date of | |||||||||||
| Nine months ended | Inception) to | ||||||||||
| December 31 | December 31, | ||||||||||
| 2008 | 2007 | 2008 | |||||||||
| Cash Flows used in Operating Activities | |||||||||||
| Net loss for the period | $ | (23,545 | ) | $ | (14,217 | ) | $ | (254,000 | ) | ||
| Add (deduct) items not involving cash: | |||||||||||
| Interest expense | - | - | 4,774 | ||||||||
| Debt forgiven | - | - | (15,360 | ) | |||||||
| Change in non-cash working capital items related | |||||||||||
| to operations: | |||||||||||
| Prepaid expenses | - | (500 | ) | - | |||||||
| Accounts payable and accrued liabilities | 2,435 | (3,553 | ) | 47,942 | |||||||
| (21,110 | ) | (18,270 | ) | (216,644 | ) | ||||||
| Cash Flows provided by Financing Activities | |||||||||||
| Proceeds from shares issued | - | - | 94,500 | ||||||||
| Increase in advance payable | - | - | 5,300 | ||||||||
| Due to related party | 20,600 | 16,500 | 117,043 | ||||||||
| 20,600 | 16,500 | 216,843 | |||||||||
| Increase (decrease) in cash during the period | (510 | ) | (1,770 | ) | 199 | ||||||
| Cash, beginning of the period | 709 | 2,766 | - | ||||||||
| Cash, end of the period | $ | 199 | $ | 996 | $ | 199 | |||||
SEE ACCOMPANYING NOTES
TARI INC.
(A Pre-exploration Stage Company)
NOTES TO THE INTERIM FINANCIAL STATEMENTS
December 31, 2008
(Stated in US Dollars)
(Unaudited)
Note 1
Interim Reporting
While information presented in the accompanying interim financial statements is unaudited, it includes all adjustments, which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented. All adjustments are of a normal recurring nature. It is suggested that these interim financial statements be read in conjunction with the Company’s March 31, 2008 financial statements. Operating results from the period ended December 31, 2008, are not necessarily indicative of the results that can be expected for the year ending March 31, 2009.
Note 2
Ability to Continue as a Going Concern
These financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for its next twelve months. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. At December 31, 2008, the Company had not yet achieved profitable operations, has accumulated losses of $254,000 since its inception, has a working capital deficiency of $154,726 and expects to incur further losses in the development of its business, all of which casts substantial doubt about the Company’s ability to continue as a going concern. The Compan y’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management has no formal plan in place to address this concern but considers that the Company will be able to obtain additional funds by equity financing and/or related party advances, however there is no assurance of additional funding being available.
Note 3
Advances Payable
The advances payable to a non-related party are unsecured, non-interest bearing and have no specific terms for repayment.
Note 4
Related Party Transactions
The Company was charged the following by a director of the Company:
| (Cumulative) | |||||||||||||||
| May 2, | |||||||||||||||
| 2001 (Date of | |||||||||||||||
| Three months ended | Nine months ended | Inception) to | |||||||||||||
| December 31, | December 31, | December 31, | |||||||||||||
| 2008 | 2007 | 2008 | 2007 | 2008 | |||||||||||
| Management fees | $ | 1,500 | $ | 1,500 | $ | 4,500 | $ | 4,500 | $ | 27,000 | |||||
Included in accounts payable and accrued liabilities at December 31, 2008 is $27,000 (March 31, 2008: $22,500) of unpaid management fees due to a director of the Company.
Note 5
Due to Related Party
The amount due to related party, the director of the Company, consists of unpaid advances. The amount due is unsecured, non-interest bearing and has no specific terms for repayment.
Subsequent to December 31, 2008, the director of the Company advanced $3,000 to the Company. The advance is unsecured, non-interest bearing and has no specific terms of repayment.
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
Forward Looking Statements
Certain statements, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements generally are identified by the words “believes,” “project,” “expects,” “anticipates,” “estimates,” “intends,” “strategy,” “plan,” “may,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. We intend such forward-looking statements to be covered by the safe-harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and are including this statement for purposes of complying with those safe-harbor provisions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse affect on our operations and future prospects on a consolidated basis include, but are not limited to: changes in economic conditions, legislative/regulatory changes, availability of capital, interest rates, competition, and generally accepted accounting principles. These risks and uncertainties should also be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. We un dertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Further information concerning our business, including additional factors that could materially affect our financial results, is included herein and in our other filings with the SEC.
Plan of Operation
Our plan of operation for the twelve months following the date of this report is to investigate projects and potential acquisition opportunities.
In addition, we anticipate spending $15,000 on professional fees and $14,000 on administrative expenses.
Excluding any mineral property payments and exploration costs, total expenditures over the next 12 months are therefore expected to be $29,000. Our cash on hand at December 31, 2008 was $199. Accordingly, we will need to raise additional funds in order to meet our expected expenses. We do not currently have any arrangements for raising additional funding.
The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management has no formal plan in place to address this concern but considers that the Company will be able to obtain additional funds by equity financing and/or related party advances, however there is no assurance of additional funding being available.
Results of Operations for the nine months ended December 31, 2008
We incurred a net loss of $23,545 for the nine months period ended December 31, 2008, as compared to a loss of $20,120 in the same period in 2007. The increase of loss for the current period was due to the increased audit fees for the year ended March 31, 2008 and increased transfer agent and filing fees during the current period. The president charges the Company $500 per month on a month by month basis ($4,500 for the period of April 1, 2008 to December 31, 2008). As at December 31, 2008, we had cash on hand of $199. Our liabilities for the same period totalled $154,925 and consisted of accounts payable of $32,582, advances payable of $5,300 and $117,043 due to our president.
Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Not required for Smaller Reporting Companies
Item 4T.
Controls and Procedures
As required by Item 307 of Regulation S-B and SEC Release No. 33-8238, the Company carried out an evaluation of the effectiveness of the design and, we have carried out an evaluation of the effectiveness of the design and operation of our company's disclosure controls and procedures as of the end of the period covered by this quarterly report, being December 31, 2008. This evaluation was carried out under the supervision and with the participation of our management, including our President and Chief Executive Officer and our Chief Financial Officer.
Our management does not expect that our disclosure controls or our internal controls over financial reporting will prevent all error and fraud. A control system, no matter how well conceived and operated, can provide only reasonable, but no absolute, assurance that the objectives of a control system are met. Further, any control system reflects limitations on resources, and the benefits of a control system must be considered relative to its costs. These limitations also include the realities that judgments in decision-making can be faulty and that breakdowns can occur because of simple error or mistake. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people or by management override of a control. A design of a control system is also based upon certain assumptions about potential future conditions; over time, controls may become inadequate because of changes in conditions, or th e degree of compliance with the policies or procedures may deteriorate.
Because of the inherent limitations in a cost-effective control system, misstatements due to error or fraud may occur and may not be detected.
Based upon that evaluation, our President/Chief Executive Officer/Chief Financial Officer concluded that our disclosure controls and procedures are effective as at the end of the period covered by this report. There have been no changes in our internal controls over financial reporting that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect our internal controls over financial reporting.
Disclosure controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported, within the time periods specified in the Securities and Exchange Commission's rules and forms. Disclosure controls and procedures include controls and procedures designed to ensure that information required to be disclosed in our company's reports filed under the Securities Exchange Act of 1934 is accumulated and communicated to management, including our President and Chief Executive Officer and our Chief Financial Officer as appropriate, to allow timely decisions regarding required disclosure.
Changes in Internal Control over Financial Reporting
There were no changes in our internal control over financial reporting during the quarter ended December 31, 2008 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
PART II
OTHER INFORMATION
Item 1.
Legal Proceedings
The Company is not a party to any pending legal proceeding. Management is not aware of any threatened litigation, claims or assessments.
Item 1A.
Risk Factors
Not applicable.
Item 2.
Unregistered Sales of Equity Securities and Use of Proceeds
Not applicable.
Item 3.
Defaults upon Senior Securities
None.
Item 4.
Submission of Matters to a Vote of Security Holders
None.
Item 5.
Other Information
None.
Item 6.
Exhibits
SIGNATURES
Pursuant to the requirements of the Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Tari Inc.
/s/ Theodore Tsagkaris
Theodore Tsagkaris
President, Secretary, Treasurer
Chief Executive Officer and Director
(Principal Executive Officer,
Principal Financial Officer and
Principal Accounting Officer)
Dated: February 13, 2009
Exhibit 31.1
CERTIFICATION
I, Theodore Tsagkaris, President and Chief Executive Officer of Tari Inc., certify that:
1.
I have reviewed this quarterly report on Form 10-Q of Tari Inc.;
2.
Based on my knowledge, this quarterly report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;
3.
Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;
4.
The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
a)
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b)
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c)
Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
d)
Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the small business issuer's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
5.
The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
a)
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
b)
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
Date: February 13, 2009
/s/ Theodore Tsagkaris
--------------------------------
Theodore Tsagkaris
President, C.E.O. and Director
(Principal Executive Officer)
Exhibit 31.2
CERTIFICATION
I, Theodore Tsagkaris, President and Chief Executive Officer of Tari Inc., certify that:
1.
I have reviewed this quarterly report on Form 10-Q of Tari Inc.;
2.
Based on my knowledge, this quarterly report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;
3.
Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;
4.
The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
a)
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b)
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c)
Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
d)
Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the small business issuer's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
5.
The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
a)
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
b)
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
Date: February 13, 2009
/s/ Theodore Tsagkaris
-------------------------------
Theodore Tsagkaris
Secretary, Treasurer & C.F.O.
(Principal Financial Officer and
Principal Accounting Officer)
Exhibit 32.1
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
In connection with the Quarterly Report of Tari Inc. (the “Company”) on Form 10-Q for the period ended December 31, 2008 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), the undersigned, in the capacities and on the dates indicated below, hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to his knowledge:
1.
The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
2.
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
Date: February 13, 2009
/s/ Theodore Tsagkaris
--------------------------------
Theodore Tsagkaris
President, C.E.O. and Director
(Principal Executive Officer)
Exhibit 32.2
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
In connection with the Quarterly Report of Tari Inc. (the “Company”) on Form 10-Q for the period ended December 31, 2008 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), the undersigned, in the capacities and on the dates indicated below, hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to his knowledge:
1.
The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
2.
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
Date: February 13, 2009
/s/ Theodore Tsagkaris
------------------------------
Theodore Tsagkaris
Secretary, Treasurer & C.F.O.
(Principal Financial Officer and
Principal Accounting Officer)
