U.S. Securities and Exchange Commission
Washington, D.C. 20549
FORM 10-QSB
(Mark One)
[ X]
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the Quarterly period ended July 31, 2004
[ ]
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ___________________ to ______________
Commission file number: 333-90618
INFOTEC BUSINESS SYSTEMS, INC.
(Exact name of small business issuer as specified in its charter)
NEVADA
98-0358149
(State or other jurisdiction of
(I.R.S. Employer Identification No.)
incorporation or organization)
444 Columbia St. E., New Westminster BC
V3L 3W9
(Address of principal executive offices)
(Zip Code)
Issuer’s Telephone Number (604) 777-1707
Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
YES [ X ] NO [ ]
APPLICABLE ONLY TO CORPORATE ISSUERS
State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date: 18,350,000 as of September 10, 2004.
INFOTEC BUSINESS SYSTEMS, INC.
Form 10-QSB for the quarter ended July 31, 2004
TABLE OF CONTENTS AND INFORMATION REQUIRED IN REPORT
Page
PART I
Financial Information
Item 1.
Financial Statements (unaudited):
Consolidated:
Balance Sheets as of July 31, 2004 (unaudited)
and April 30, 2004 (audited)
3
Interim Statements of Operations for the three month periods
ended July 31, 2004 and July 31, 2003
4
Interim Statements of Stockholders’ Equity
5
Interim Statements of Cash Flows for the three month periods
ended July 31, 2004 and July 31, 2003
6
Notes to Consolidated Interim Financial Statements
7
Item 2.
Management’s Discussion and Analysis or Plan of
Operation
9
Item 3.
Controls and Procedures
13
PART II
Other Information
Item 1.
Legal Proceedings 14
Item 2.
Changes in Securities and Use of Proceeds
14
Item 3.
Defaults Upon Senior Securities
14
Item 4.
Submission of Matters to a Vote of Security Holders
14
Item 5.
Other Information 14
Item 6.
Exhibits and Reports on Form 8-K
14
SIGNATURES
14
INFOTEC BUSINESS SYSTEMS, INC.
(A Development Stage Company)
Consolidated Interim Balance Sheet
(Stated in U.S. Dollars)
July 31,
April 30,
2004
2004
(unaudited)
(audited)
Assets
Current assets
Cash
$
4,604
$
25,925
Amounts receivable
494
600
Prepaid expenses and other current assets
1,514
2,462
$ 6612 $28,927
Liabilities and Stockholders’ Deficiency
Current liabilities
Accounts payable and accrued liabilities
$
7,458
$
9,937
Accounts payable - related
48,653
8,185
Total current liabilities
56,111
18,122
Stockholders’ equity (deficiency)
Share capital (Note 3)
Authorized
25,000,000 preferred shares with $0.001 par value
50,000,000 common shares with $0.001 par value
Issued
18,350,000 common shares
18,350
18,350
Additional paid-in capital
496,095
496,095
Deficit accumulated during the development stage
(563,944)
(503,580)
Total stockholders’ equity (deficiency)
(49,499)
10,865
6,612 28,987
The Accompanying Notes are an Integral
Part of These Financial Statements
INFOTEC BUSINESS SYSTEMS, INC.
(A Development Stage Company)
Consolidated Interim Statements of Operations
(Unaudited, Stated in U.S. Dollars)
Period from
August
30, 2001
Three Month Period
(Inception)
Ended July 31,
to July 31,
2004
2003
2004
Operating Expenses
Consulting fees
$
12,473
$
500
$71,154
Equipment rental
4,500
4,500
50,808
Management fee
15,000
15,000
75,000
Office and miscellaneous
3,986
9,676
52,756
Professional fees
8,405
21,377
99,812
Rent and occupancy 6,000 4,500 56,400
Software development costs
10,000
12,180
157,914
Total operating expenses
60,364
67,733
563,944
Net Loss $(60,364) $(67,733) $(563,944)
Net (loss) per share - Basic and Diluted
$
(0.01)
$
(0.01)
$
Weighted average shares
of common stock outstanding
18,350,000
21,542,717
The Accompanying Notes are an Integral
Part of These Financial Statements
INFOTEC BUSINESS SYSTEMS, INC.
(A Development Stage Company)
Consolidated Interim Statements of Stockholders’ Equity
(Unaudited, Stated in U.S. Dollars)
Common Stock Deficit
Additional Accumulated During
Number of
Paid-in
the Development
Shares
Amount
Capital
Stage
Total
Initial capitalization
October, 2001 for cash
2,100,000
$
2,100
$
4,900
$
$
7,000
Net (loss)
(92,438)
(92,438)
Balance as of
April 30, 2002
2,100,000
2,100
4,900
(92,438)
(85,438)
Shares issued for:
Settlement of
accounts payable
1,200,000
1,200
58,800
60,000
Private placement
1,200,000
1,200
58,800
60,000
Forward split (6:1)
February, 2003
22,500,000
22,500
(22,500)
Net (loss)
(80,237)
(80,237)
Balance as of
April 30, 2003
27,000,000
27,000
100,000
(172,675)
(45,675)
Shares issued for:
Private placement
100,000
100
319,900
320,000
Return to treasury
(8,750,000)
(8750)
8,750
Stock based compensation
67,445
67,445
Net (loss)
(330,905)
(330,905)
Balance as of
April 30, 2004
18,350,000
18,350
496,095
(503,580)
10,865
Net (loss)
(60,364)
(60,364)
Balance as of
July 31, 2004
18,350,000
$
18,350
$
496,095
$
(563,944)
$
(49,499)
The Accompanying Notes are an Integral
Part of These Financial Statements
INFOTEC BUSINESS SYSTEMS, INC.
(A Development Stage Company)
Consolidated Interim Statements of Cash Flows
(Unaudited, Stated in U.S. Dollars)
Period from
Three
Three
August
Month
Month
30, 2001
Period Ended
Period Ended
(Inception)
July 31,
July 31,
to July 31,
2004
2003
2004
Cash flows from operating activities
Net Loss
$
(60,364)
$
(67,733)
$
(563,944)
Non-cash items:
Stock based compensation
-
16,750
67,445
Changes in non-cash working capital, net
39,043
(35,903)
114,103
(21,321) (86,886) (382,396)
Cash flows from financing activities
Proceeds from issuance of common stock
-
400,000
467,000
Costs of issuance of common stock
-
(80,000)
(80,000)
- - 320,000 387,000
Incresase (decrease) in cash in the period (21,321) 233,144 4,604
Cash - beginning of period
25,925 3,818 - -
Cash - end of period $4,604 $236, 932 $4,604
Supplementary cash flow information
Shares issued to settle
accounts payable - related
$
-
$
-
$
60,000
The Accompanying Notes are an Integral
Part of These Financial Statements
INFOTEC BUSINESS SYSTEMS, INC.
(A Development Stage Company)
Notes to Consolidated Interim Financial Statements
(Unaudited, Stated in U.S. Dollars)
NOTE 1: BASIS OF PRESENTATION
(a) Interim Financial Data
The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and the instructions to form 10-QSB. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. All adjustments that, in the opinion of management, are necessary for the fair presentation of the results of operations for the interim periods have been made and are of a recurring nature unless otherwise disclosed herein. The results of operations for the three month period ended July 31, 2004 are not necessarily indicative of the results that will be realized for a full year. For further information, refer to the Company’s audited financial statements and notes thereto for the fiscal year ended April 30, 20 04.
(b)
Going Concern
The financial statements have been presented on the basis that the Company is a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company reported a net loss of $563,944 since inception to July 31, 2004. At July 31, 2004, the Company had a working capital deficit of $49,499.
The Company will need additional working capital to be successful in its planned development activity for the coming year, and, therefore, continuation of the Company as a going concern is dependent upon obtaining the additional working capital necessary to accomplish its objective. Management has developed a strategy, which it believes will accomplish this objective, and is presently engaged in marketing and sales activities and in seeking various sources of additional working capital including equity funding through a private placement and long term financing and possible engagement in strategic and other business combinations.
The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the outcome of this uncertainty.
(c)
Significant Accounting Policies
Stock Based Compensation - The Company accounts for non-employee stock based compensation using the fair market value method prescribed in SFAS No. 123 - “Accounting for Stock-Based Compensation”, and related interpretations. Accordingly, compensation cost for such compensation is measured as its fair value at the date of grant.
NOTE 2: COMMITMENT
Pursuant to a purchase agreement dated October 3, 2001, the Company is committed to paying a royalty of 2% on the net sales revenue, quarterly, for any product or service that uses all or any portion of the software acquired until the amount paid totals $250,000, after which the royalty drops to 1%. The software development costs were acquired from Danby Technologies Corporation (“Danby”), a company controlled by a majority shareholder.
INFOTEC BUSINESS SYSTEMS, INC.
(A Development Stage Company)
Notes to Consolidated Interim Financial Statements
(Unaudited, Stated in U.S. Dollars)
NOTE 2: COMMITMENT (continued)
Pursuant to a licensing agreement dated July 8, 2003, the Company has committed to pay monthly, a royalty of 10% of the net sales revenue, from anycommguard™ branded product or service until the amount paid totals $7,500,000, after which the royalty drops to 7.5%. The license was granted by CTEC Security Solutions Inc., a company with a director in common.
NOTE 3: RELATED PARTY TRANSACTIONS
During the period, the Company entered into transactions (recorded at exchange values) with related parties as follows:
i)
The Company engages Danby to provide a shared internet enabled network system, provide development staff and office premises. In the three month period to July 31, 2004, fees aggregated $28,100 (2003, $17,000).
ii)
The Company pays fees in respect of services to Danby Financial Management Corp. a company controlled by a director, at the rate of $5,000 per month. In the three month period to July 31, 2004, the Company has incurred service fees aggregating $15,000 (2002, $15,000).
iii)
During the three month period ended July 31, 2003, the Company engaged a company controlled by a director to provide consulting services for $3,000 (2002, $500).
iv)
During the three month period ended July 31, 2004, the Company engaged a company with a director in common to provide service and support staff for $1,873 (2003, $2,680).
NOTE 4: PROPOSED ACQUISITION
On June 15, 2004, the Company executed a letter of intent (the “LOI”) with the shareholders’ of Cackleberries Entertainment Inc. (“CEI”), pursuant to which it would acquire by way of share exchange, merger or amalgamation of all the issued shares of CEI. Subject to completion of definitive negotiations, the prospective terms of the such acquisition include the issuance of common shares, representing up to 85% of the outstanding capital stock of the Company on an undiluted basis to the CEI stockholders and changes to the Company’s board of directors, such that one present member will remain a director of the Company, while CEI will propose an additional two persons for appointment.
ITEM 2.
Management’s Discussion and Analysis or Plan of Operation
Management’s discussion and analysis or plan of operation contains various forward looking statements within the meaning of the Securities and Exchange Act of 1934. You should read statements that contain these words carefully because they discuss our future expectations, making projections of our future results of operations or our financial condition or state other "forward-looking" information. Forward-looking statements involve known and unknown risks and uncertainties which may cause the actual results, performance or achievements of our company to be materially different from those which may be expressed or implied by such statements. The factors listed in the subsection under the caption "Additional Risk Factors" which is included in this section of this report, as well as any other caut ionary language in this report, provide examples of risks, uncertainties and events which may cause our actual results to differ materially from the expectations we described in our forward-looking statements. We do not undertake any obligation to publicly update forward-looking statements to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.
The following discussion should be read together with the information contained in the financial statements and related notes included elsewhere in this quarterly report.
General
Our discussion and analysis of our financial condition and results of operations are based upon our consolidated financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an on-going basis, we evaluate these estimates, including those related to software development expenses, financing operations and contingencies and litigation. We base these estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.
Recent Developments
On June 15, 2004, we executed a letter of intent (the “LOI”), with the stockholders’ of Cackleberries Entertainment Inc. (“CEI”), to acquire, by way of share exchange, merger or amalgamation of all the issued shares of CEI. The transaction has been the subject of ongoing discussions and reviews and we are currently in the process of negotiating the final terms and conditions of the transaction which we expect to conclude shortly. The prospective terms of the transaction include the Company’s issuance of common shares, representing up to 85% of the outstanding capital stock of Infotec on an undiluted basis to the CEI stockholders and changes to the Company’s board of directors, such that one present member will remain a director of the Company, while CEI will propose an additional two persons for appointment.
Upon completion of the acquisition, CEI stockholders will have management and stockholder control over the Company by virtue of their holdings of our common stock. The acquisition will be treated as a reverse take over for accounting purposes. Investors are cautioned that there is no assurance that the terms and conditions of the acquisition will not change, nor can we assure you that the negotiations and acquisition will ultimately be completed or consummated.
Operation Development and Plan
We are an emerging development stage company. We are currently marketing our online products and services, however, to date, we have not generated revenue from our activities. Our business plan is to operate and market online solutions and services to businesses and other organizations throughout the world, principally through resellers, agents and other channel partners, and to earn revenue from monthly service fees, usage and transaction fees.
Since April 30, 2003, we have introduced our virtual office system and platform to potential customers and joint venture partners, as a backbone for operating and managing their office and business processes online. To expand our online offerings and opportunities we entered into a license agreement with CTEC Security Solutions Inc., a related company, to sell their commguard™ branded access and security control products and services throughout the world. In furtherance of our business plan we have among other things:
-
completed implementation and testing of our Certification Authorities (“CAs”), including customer and independent agency testing for use by their members;
-
developed and printed marketing literature and service and support which are published on our web site atwww.infotecbusinesssystems.com and atwww.commguard.com;
-
actively introduced and marketed commguard™ branded security solutions to potential customers through: direct contact; trade shows; sponsorships and personal introductions;
-
commenced deployment of commguard™ branded digital certificates and building of an initial base of users; and
-
developed and introduced specific programs for targeted markets and industries.
Since our CA systems became operational in the third quarter of 2004, we have been providing free certificates to businesses and other user groups in an effort to build brand awareness, a user base and potentially, future paid subscribers.
Our plan includes building on our marketing and sales efforts and building our relationships with potential business partners and resellers, concurrent with building a larger base of commguard™ digital certificate users throughout the world. Our development activities will also be focused on business opportunities our marketing efforts identify.
Marketing
During the current quarter, subject to funds availability and the effect of the proposed CEI acquisition, we plan to continue our focus on delivering security solutions selectively to: associations and business groups, resellers and channel partners. We will also continue to develop sales opportunities with B2B web sites, Internet Service Providers and other online business systems. We continue to focus our marketing and sales efforts in the following product segments:
-
secure e-mail;
-
access control and digital contracts within e-commerce and B2B web sites; and
-
secure and signed online document filing for business and government.
Our current and planned marketing efforts will focus on exploiting these opportunities through follow-up sales and marketing calls, developing business partner and reseller opportunities and selling to our current contacts and potential customer base.
We currently lack the financial resources to maintain or broaden our marketing efforts or engage additional professional advisors. To reduce our costs to market and attract a potentially wider user base, we are accordingly seeking opportunities for marketing through channel partners and resellers. A lack of financial resources will most certainly inhibit our marketing activities and will cause harm to our business and to successful execution of our plan. Where adequate funding is available, we believe we can engage sales and marketing professionals when needed.
Development
Our development staff are responsible for our system operation and maintenance, for providing our custom development services and for service and support.
Our software development activities are currently focused on product improvements, system maintenance and support for new opportunities our marketing program has identified.
Subject to funds availability and the effect of the proposed CEI acquisition, our current plan is to maintain our staff at one part-time technician, which we believe, in conjunction with available subcontractors, will be satisfactory to undertake development and system maintenance through the end of the second quarter. We believe that in future, we can engage additional employees, consultants and subcontract development staff with the required skills, as they may be needed.
Results of Operations
We have not yet generated revenue from our activities, nor are we a party to any binding agreements that will generate revenues. For the period from incorporation, August 30, 2001 through July 31, 2004, we incurred a deficit of $563,944. Our principal areas of expenditure during the period were for software development costs of $157,914, professional fees of $99,812 and consulting and management fees of $146,154.
For the three month period ended July 31, 2004, we incurred a loss from operations of $60,364. Our principal areas of expenditure during the period were for software development costs of $10,000, professional fees of $8,405, and consulting and management fees of $27,473.. Administrative and development costs were slightly lower in fiscal 2004 over fiscal 2003 due to our lack of available working capital. Consulting and management fees increases over 2003 were related to our engagement of a sales consultant in June 2004. Professional fees in 2003 included $16,750 of charges for stock compensation costs related to the issuance of warrants in July 2003.
Liquidity and Capital Resources
As of July 31, 2004, we had an accumulated deficit of $563,944 and cash on hand of $4,604. Our working capital deficit at July 31, 2004 was $49,499. The accumulated deficit and our working capital deficit was funded by proceeds from the issuance of common shares, the conversion of indebtedness to common shares and accounts payable to suppliers.
For the three month period ended July 31, 2004, net cash used in operating activities was $21,321, which primarily resulted from our net loss of $60,364 combined with changes in working capital amounts.
Our working capital is currently insufficient to sustain our current operations. Our operations are currently dependent on our management and our related company suppliers willingness and ability to continue to provide services without some assurance of payment. Our plan is to seek additional funding and business relationships with product or channel partners. We are also exploring acquisition alternatives to enhance our business opportunities and our opportunity for funding. We believe our proposed acquisition of Cackleberries Entertainment Inc., while itself requiring funding to achieve its business objectives, will provide us with such additional business opportunities and will ultimately enhance our financing opportunities.
While management believes that sales and ultimately profitable operations, can be attained in the future, there is no assurance that sales will be made or that if made, they will be of a level required to generate profitable operations or provide positive cash flow. We are unable to predict at this time the exact amount of any additional working capital we will require to fund the implementation of our business plan and achieve cash flow sufficient to sustain operations and achieve profitability. To fund our operations and implementation of our business plan, we may seek additional capital in the private and/or public equity markets through the sale of equity or debt securities, or through the issuance of debt instruments. If we receive additional funds through the issuance of equity securities, however, our existing stockholders may experience significant dilution. If we issue new securities, they may contain certain rights, preferences or privileges that are senior to those of our common stock. Moreover, we may not be successful in obtaining additional financing when needed or on terms favorable to our stockholders. As we have no commitments from any third parties to provide additional equity or debt funding, we cannot provide any assurance that we will be successful in attaining such additional funding.
We currently market a range of online products and services, however, we have not yet generated any revenues, nor are we a party to any binding agreements that will generate revenues. Due to our lack of revenue-production to date, and our lack of contractual commitments to generate revenue, there is no basis at this time for investors to make an informed determination as to the prospects for our future success. For this reason and, as we have not achieved profitable operations and require additional capital to achieve our objectives, our auditors have included in their report covering our financial statements for the period from incorporation to April 30, 2004, that there is substantial doubt about our ability to continue as a going concern.
Additional Risk Factors
As noted throughout this report, Infotec Business Systems, Inc., is an emerging development stage company and accordingly, there are many risks that affect our operations and our ultimate viability. It is not possible, however, to foresee all risks which may affect us. Moreover, we cannot predict the magnitude of each risk nor can we predict whether we will successfully effectuate our current business plan. Each prospective investor is encouraged to carefully analyze the risks and merits of an investment in our shares and to take into consideration when making such analysis, among others, the financial risks discussed under the subheading “Liquidity and Capital Resources” above and the additional risk factors we have set out below.
Operating History - We presently market products and services we have developed. We have not however, yet earned any revenues and accordingly, we have no operating history from which investors can evaluate our future business prospects or management’s performance. As a result, you have no reliable means to determine whether you should make an investment in our company.
Marketable Products - In order to sell our products and services, we have to demonstrate to potential customers that we have systems and services that are functional, supported, cost effective and address their needs. We have developed products and services which we have introduced to potential customers. At present we have limited history in offering and supporting our product offerings. If, consequently, our products and services do not meet customer needs and if customers are not convinced we can maintain, support and upgrade our offerings in future, or if our products contain product flaws or bugs, we will not be able to successfully market our products and services or earn any revenues.
Staff Availability - We have only two directors and we rely principally on Mr. Robert Danvers our President for his entrepreneurial skills and experience and to implement our business plan. We currently also engage one part-time technical consultant for our development and for our product service and support. We do not currently have employment agreements with any of the directors, officers or contractors, we depend on for the successful implementation of our plan. Moreover, our ability to sell our products and successfully implement our business plan may be adversely affected by the limitation in availability of our staff.
Competition - We face competition from a wide range of competitors in the online application services industry. These companies include large, well established and financially stronger companies. As we have indicated previously, we have only limited resources to compete and may never have sufficient funds to be able to refine our applications and successfully market our offerings so that we may become a factor in our industry. These competitive disadvantages represent another factor which may cause investors in our stock to lose the value of their investment.
Management Control - Mr. Robert Danvers owns or controls approximately 59% of the outstanding shares of our common stock. Accordingly, he will have almost complete influence in determining the outcome of all corporate transactions and business decisions. The interests of Mr. Danvers may differ from the interests of the other stockholders, and since he has the ability to control most decisions through his control of our common stock, our investors will have limited ability to affect decisions made by management.
Acquisition Risk - We are in the process of negotiating a final agreement with CEI and its stockholders to acquire the issued common shares of CEI, a company which is developing a web based childrens’ entertainment site. We can provide no assurance that negotiations will be completed or that the acquisition of CEI will be consummated. Additionally, should negotiations be completed, we can provide no assurance that the terms and conditions of the acquisition will not change. Moreover, there is no assurance that we will be able to integrate operations and fund the development needs of CEI’s business and plan in the event that the acquisition ultimately takes place.
Product Research and Development
Subject to adequate funding, we have budgeted $44,000 over the next twelve month period for product upgrades; system maintenance; and the design and testing of new products.
Property or Plant
We do not expect to purchase or sell plant and significant equipment in the next twelve months.
Employment
Subject to funds availability and the effect of the proposed CEI acquisition, we expect our operations to remain constant at our current level of one full-time and one part-time contractor. The number and positions of any new employees and contractors will be determined by additional funding, if obtained.
ITEM 3.
Controls and Procedures
On July 31, 2004, our management concluded its evaluation of the effectiveness of the design and operation of our disclosure controls and procedures. As of the Evaluation Date, our Chief Executive Officer and Chief Financial Officer concluded that we maintain disclosure controls and procedures that are effective in providing reasonable assurance that information required to be disclosed in our reports under the Securities Exchange Act of 1934 (Exchange Act) is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer and our Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. Our management necessarily applied its judgment in assessing the costs and benefits of such controls and procedures, which, by their nature, can provide only reasonable assurance regarding management’s control objectives.
There have been no significant changes in our internal controls or in other factors that could significantly affect internal controls over financial reporting subsequent to its evaluation.
PART II OTHER INFORMATION
ITEM 1. Legal Proceedings
None
ITEM 2. Changes in Securities and Use ofProceeds
None
ITEM 3. Defaults Upon Senior Securities
None
ITEM 4. Submissions of Matters to a Vote of Security Holders
None
ITEM 5. Other Information
None
ITEM 6. Exhibits and Reports on Form 8-K
(a)
Index to Exhibits
Exhibits
Description of Documents
31.1
Certification of Chief Executive Officer pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002
31.2
Certification of Chief Financial Officer pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002
32
Certification of Chief Executive Officer and
Chief Financial Officer pursuant to Section 906
of the Sarbanes-Oxley Act of 2002
(b)
Reports on 8-K.
There were no reports on form 8-K filed in the quarter.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Infotec Business Systems, Inc.
(Registrant)
Date.......................................September 12, 2004............................................
By........................../s/ Robert Danvers.................................................................
(Robert Danvers, President, Director, CEO,
Chief Financial and Accounting Officer)
