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 October 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)
1400 - 400 Burrard Street, Vancouver BC
V6C 3G2
(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: 40,500,000 as of December 9, 2004.
INFOTEC BUSINESS SYSTEMS, INC.
Form 10-QSB for the quarter ended October 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 October 31, 2004 (unaudited)
and April 30, 2004 (audited)
3
Interim Statements of Operations for the six month periods
ended October 31, 2004 and October 31, 2003
4
Interim Statements of Operations for the three month periods
ended October 31, 2004 and October 31, 2003
5
Interim Statements of Stockholders’ Equity
6
Interim Statements of Cash Flows for the three month periods
ended October 31, 2004 and October 31, 2003
7
Notes to Consolidated Interim Financial Statements
8
Item 2.
Management’s Discussion and Analysis or Plan of
Operation
10
Item 3.
Controls and Procedures
14
PART II
Other Information
Item 1.
Legal Proceedings
15
Item 2.
Unregistered Sales of Equity Securities and Use of Proceeds
15
Item 3.
Defaults Upon Senior Securities
15
Item 4.
Submission of Matters to a Vote of Security Holders
15
Item 5.
Other Information
15
Item 6.
Exhibits and Reports on Form 8-K
15
SIGNATURES
15
INFOTEC BUSINESS SYSTEMS, INC.
(A Development Stage Company)
Consolidated Interim Balance Sheet
(Stated in U.S. Dollars)
October 31,
April 30,
2004
2004
(unaudited)
(audited)
Assets
Current assets
Cash
$
1,455
$
25,925
Amounts receivable
164
600
Prepaid expenses and other current assets
1,587
2,462
$3206 28,987
Liabilities and Stockholders’ Deficiency
Current liabilities
Accounts payable and accrued liabilities
$
120,699
$
9,937
Accounts payable - related
111,308
8,185
Total current liabilities
232,007
18,122
Stockholders’ equity (deficiency)
Share capital
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
(743,246)
(503,580)
Total stockholders’ equity (deficiency)
(228,801)
10,865
3,206 28,987
INFOTEC BUSINESS SYSTEMS, INC.
(A Development Stage Company)
Consolidated Interim Statements of Operations
(Unaudited, Stated in U.S. Dollars)
Period from
August
30, 2001
Six Month Period
(Inception)
Ended October 31,
to October 31,
2004
2003
2004
Operating Expenses
Consulting fees
$
126,977
$
12,389
$ 185,658
Equipment rental
9,000
9,000
55,308
Management fee
60,000
30,000
120,000
Office and Miscellaneous
6,480
17,275
55,250
Professional fees
11,209
21,943
102,616
Rent and occupancy
8,000
10,000
58,500
Software development costs
18,000
33,028
165,914
Total operating expenses
239,666
133,635
743,246
Net Loss 239,666 133,635 (743,246)
Net (loss) per share - Basic and Diluted
$
(0.01)
$
(0.01)
Weighted average shares
of common stock outstanding
18,350,000
24,226,359
INFOTEC BUSINESS SYSTEMS, INC.
(A Development Stage Company)
Consolidated Interim Statements of Operations
(Unaudited, Stated in U.S. Dollars)
Three Month
Period Ended October 31,
2004
2003
Operating Expenses
Consulting fees
$
114,504
$ 11,889
Equipment rental
4,500
4,500
Management fee
45,000
15,000
Office and miscellaneous
2,494
7,599
Professional fees
2,804
566
Rent and occupancy
2,000
5,500
Software development costs
8,000
20,848
Total operating expenses
179,302
65,902
Net Loss $(179,302) $(65,902)
Net (loss) per share - Basic and Diluted
$
(0.01)
$
(0.01)
Weighted average shares
of common stock outstanding
18,350,000 18,350,000
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
August
30, 2001
Six Month
(Inception)
Period Ended October 31,
to October 31,
2004
2003
2004
Cash flows from operating activities
Net Loss
$
(239,666)
$
(133,365)
$
(743,246)
Non-cash items:
Stock based compensation
-
16,750
67,445
Changes in non-cash working capital, net
215,196
(40,901)
290,256
(24,470) 157,516 385,545
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
Increase (decrease) in cash in the period
(24,470)
162,484
1,455
Cash - beginning of period
25,925
3,818
-
Cash - end of period $1,455 $166,302 1,455
Supplementary cash flow information
Shares issued to settle
accounts payable - related
$
-
$
-
$
60,000
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 six month period ended October 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, 2004.
(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 $743,246 since inception to October 31, 2004. At October 31, 2004, the Company had a working capital deficit of $228,801.
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.
(d)
Reclassification
Comparative figures in the statements of operations have been reclassified in accordance with the current categorization of operating expenses.
INFOTEC BUSINESS SYSTEMS, INC.
(A Development Stage Company)
Notes to Consolidated Interim Financial Statements
(Unaudited, Stated in U.S. Dollars)
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.
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 and sales staff and office premises. In the six month period to October 31, 2004, fees aggregated $48,495 (2003, $39,000).
ii)
The Company pays fees in respect of services to Danby Financial Management Corp. a company controlled by a director. In the six month period to October 31, 2004, the Company has incurred service fees aggregating $60,000 (2003, $30,000).
iii)
During the six month period ended October 31, 2004, the Company engaged a company controlled by a director to provide consulting services for $3,000 (2003, $500).
iv)
During the six month period ended October 31, 2004, the Company engaged a company with a director in common to provide service and support staff for $1,873 (2003, $7,526).
NOTE 4: ACQUISITION
On June 15, 2004, the Company executed a letter of intent 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. On September 29, 2004, the Company executed a definitive Stock Purchase Agreement (“SPA”) with the shareholders of CEI whereby the Company would issue to the CEI stockholders 23,760,000 common shares of the Company in exchange for 99% of the issued and outstanding common shares of CEI. On November 9, 2004, the Company, CEI and the CEI stockholders mutually agreed to terminate and void the SPA and all related transactions and appointments.
INFOTEC BUSINESS SYSTEMS, INC.
(A Development Stage Company)
Notes to Consolidated Interim Financial Statements
(Unaudited, Stated in U.S. Dollars)
NOTE 5: SUBSEQUENT EVENTS
i)
On November 11, 2004, the Company, executed a Stock Purchase Agreement (the “Galaxy Agreement”) with the shareholders’ of Galaxy Networks Inc. (“Galaxy”), a British Columbia corporation, pursuant to which it would acquire by way of share exchange all the issued shares of Galaxy. Under the terms of the Galaxy Agreement, the Company acquired 100% of the issued and outstanding common shares of Galaxy in exchange for the issuance of 20,000,000 common shares, representing approximately 52% of the outstanding capital stock of the Company on an undiluted basis. In addition the Galaxy Agreement called for changes to the Company’s board of directors, such that the present member would resign as director of the Company, and Galaxy will propose two persons for appointment. The Company will account for the acquisition of Galaxy as a reverse take over.
ii)
The Company issued 500,000 common shares as a fee to two persons who acted to assist in the acquisition of Galaxy.
iii)
The Company issued 1,650,000 common shares in satisfaction of consulting fees aggregating $112,200.
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 cautionary 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 readi ly apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.
Recent Developments
On September 29, 2004, we entered into a Stock Purchase Agreement, with Cackleberries Entertainment Inc. (“Cackleberries”) and certain of its stockholders, to acquire, by way of share exchange, 99% of the issued shares of Cackleberries. The terms of this acquisition included the issuance of 23,760,000 of our common shares. On November 9, 2004, the Stock Purchase Agreement of September 29, 2004 and the acquisition of Cackleberries was terminated and its effect cancelled and nullified by mutual consent of the parties.
On November 11, 2004, we entered into a Stock Purchase Agreement (the “Agreement”) with Galaxy Networks Inc. (“Galaxy”), a British Columbia corporation and its stockholders whereby we agreed to acquire 100% of the issued and outstanding share capital of Galaxy, in exchange for the issuance of 20,000,000 shares of our restricted common stock.
Upon completion of the acquisition November 11, 2004, Galaxy stockholders 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.
Operation Development and Plan
We are an emerging development company. Our plan is to continue our current operations and those of Galaxy and to combine our respective technologies and business opportunities. Our current business involves the design, development and marketing of online services and systems, and products and services to provide privacy and security for the digital world. Our product and service offering include e-security services that provide end-to-end total solutions for e-mail communication security, online identity management and trusted digital signatures, the marketing of a digital video encoder/broadcasting device coupled with a storage, management, and distribution system. The Galaxy System has proprietary software running a hardware platform. In addition to streaming media services, Galaxy offers ASP services including:
·
Web Hosting Services
·
Database Services
·
E-Mail Services
·
FTP Services
·
Name Server Management
·
Bandwidth re-sale
·
Server Co-location.
Our strategy is to combine our and Galaxy’s technology and opportunities, develop business relationships and opportunities, accelerate our marketing and earn revenues from monthly services fees, system sales, usage or transaction fees, and from custom services or development.
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 digital video encoding andcommguard™ digital certificate users throughout the world. Our development activities will also be focused on business opportunities our marketing efforts identify.
Marketing
We have identified and are focused on exploiting the need for privacy and security by firms communicating, transmitting or otherwise accessing the Internet and other network systems within, among others, markets such as: Online filing of documents; associations and groups; B2B web sites; and Independent Service Vendors and other resellers and channel partners. With our Galaxy acquisition, we expand our service offerings to markets such as those business and other organizations in a variety of industries who have digital media which they desire other parties to view. Galaxy has identified and is focused on exploiting, among others, markets such as:
·
content rich web sites looking to add a next generation edge to their products;
·
high volume web sites, currently paying too much for bandwidth; and
·
individuals requiring innovative solutions to training and certification.
We plan to compete, by focusing on niche markets including specialized business service opportunities outlined above and to market principally to resellers and channel partners.
We believe that in the markets we serve, we have products and services which are competitively positioned in relationship to our competitors including: competitive technology and products and services; web based management applications and systems; custom development; flexible billing and payment programs; support and service; and volume pricing.
While our management team has significant business experience, we, as a company, have little proven track record in the online services and security industry and can accordingly provide no assurance that we will be able to successfully market our products and services or compete within this industry.
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 programs identify.
Subject to funds availability, our current plan is to maintain our staff at two full time and two part-time technicians, which we believe, in conjunction with available subcontractors, will be satisfactory to undertake our plan through the end of the third 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 October 31, 2004, we incurred a deficit of $743,246. Our principal areas of expenditure during the period were for software development costs of $165,914, professional fees of $102,616, consulting fees of $ 185,658 and management fees of $120,000.
For the six month period ended October 31, 2004, we incurred a loss from operations of $239,666. Our principal areas of expenditure during the period were for software consulting fees $126,977, management fees of $60,000, development costs of $18,000 and professional fees of $11,209. Consulting and management fees increases over 2003 were related to our engagement of a sales consultant in June 2004 and the incurrence of fees related to the Cackleberries Entertainment Inc. acquisition. Professional fees in 2003 included $16,750 of charges for stock compensation costs related to the issuance of warrants in July 2003. Office and software development costs were significantly lower in fiscal 2004 over fiscal 2003 due to a reduction in marketing expenditures and the completion of earlier development programs.
For the three month period ended October 31, 2004, we incurred a loss from operations of $179,302. Our principal areas of expenditure during the period were for software consulting fees of $114,504, management fees of $45,000 and development costs of $8,000. Office and software development costs were significantly lower in fiscal 2004 over fiscal 2003 due to a reduction in marketing expenditures and the completion of earlier development programs. Consulting and management fees increases over 2003 were related to our engagement of a sales consultant in June 2004 and the incurrence of fees related to the Cackleberries Entertainment Inc. acquisition.
Liquidity and Capital Resources
As of October 31, 2004, we had an accumulated deficit of $743,246 and cash on hand of $1,455. Our working capital deficit at October 31, 2004 was $228,801. 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 six month period ended October 31, 2004, net cash used in operating activities was $24,470, which primarily resulted from our net loss of $239,666 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 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 acquisition of Galaxy 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 secur ities, 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 are presently in the process of marketing products and services which we have developed or acquired. We have only a limited 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 this company.
Marketable Products - In order to sell our products and services, we must demonstrate to potential customers that we have systems and services that are functional, supported, cost effective and address their needs. We haves developed products and services which we have introduced to potential customers. At present however, we have only limited history in offering and supporting these product offerings. If 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 revenues.
Staff Availability - We currently engages two full time and two part-time technical consultants for development and for sales and product service and support. We do not currently have employment agreements with any of the directors, officers, employees or contractors it depend on for the successful implementation of its plan. Moreover, our ability to sell products and successfully implement our business plan may be adversely affected by the limitation in availability of staff.
Competition - We face competition from a wide range of firms in the online application services industry. These companies include large, well established and financially stronger companies. We do not currently have resources to compete and may never have sufficient funds to be able to refine our offerings and successfully market our offerings so that we may become a factor in the industry. These competitive disadvantages represent another factor which may cause investors in our stock to lose the value of their investment.
Management Control - Current management owns or controls approximately 48% of the outstanding shares of our common stock. Accordingly, they will have almost complete influence in determining the outcome of all corporate transactions and business decisions. The interests of management may differ from the interests of the other stockholders, and since they have the ability to control most decisions through their control of our common stock, investors will have limited ability to affect decisions made by management.
Property or Plant
We do not expect to purchase or sell plant and significant equipment in the next twelve month period.
Employment
We currently engages two full-time employees and two part-time contractors. As prospects and circumstances warrant, additional full-time and part-time employees, as well as consultants will be engaged, to perform required services.
ITEM 3.
Controls and Procedures
On October 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 co sts 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. Unregistered Sales of Equity 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.
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 |
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.......................................December 13, 2004............................................ |
By........................../s/ Carol Shaw................................................................. |
(Carol Shaw, President, Director, CEO) |
By........................../s/ Barry Foreman................................................................. |
(Barry Foreman, Secretary, Director) |
