UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-QSB
[X] | Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
For the quarterly period ended: June 30, 2005 | |
[ ] | Transition Report pursuant to 13 or 15(d) of the Securities Exchange Act of 1934 |
For the transition period __________ to __________ | |
Commission File Number: 000-51013 |
Colombia Goldfields, Ltd.
(Exact name of small business issuer as specified in its charter)
Nevada | 76-0730088 | |
(State or other jurisdiction of incorporation or organization) | (IRS Employer Identification No.) |
375 Water Street, Suite 610,Vancouver, British Columbia, Canada, V6C 1C8 |
(Address of principal executive offices) |
604-691-6518 |
(Issuer’s telephone number) |
_______________________________________________________________ |
(Former name, former address and former fiscal year, if changed since last report) |
Check whether the issuer (1) 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 issuer was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days [X] Yes [ ] No
State the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: 24,000,000 common shares as of June 30, 2005
Transitional Small Business Disclosure Format (check one): Yes [ ] No [X]
Page | ||
PART I - FINANCIAL INFORMATION | ||
Item 1: | 3 | |
Item 2: | 4 | |
Item 3: | 6 | |
PART II - OTHER INFORMATION | ||
Item 1: | 8 | |
Item 2: | 8 | |
Item 3: | 8 | |
Item 4: | 8 | |
Item 5: | 9 | |
Item 6: | 9 |
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements
Our unaudited financial statements included in this Form 10-QSB are as follows:
(a) | Balance Sheet as of June 30, 2005. |
(b) | Statements of Operations for the three and six month periods ended June 30, 2005 and 2004; |
(c) | Statement of Stockholder’s Deficiency from Inception, March 25, 2003, to June 30, 2005; |
(d) | Statements of Cash Flow for the six month periods ended June 30, 2005 and 2004; |
(e) | Notes to Consolidated Financial Statements. |
These unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and the SEC instructions to Form 10-QSB. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Operating results for the interim period ended June 30, 2005 are not necessarily indicative of the results that can be expected for the full year.
COLOMBIA GOLDFIELDS LTD. (FORMERLY SECURE AUTOMATED FILING ENTERPRISES INC.) (A Development Stage Enterprise) Balance Sheets |
June 30, | December 31, | |
As at | 2005 | 2004 |
(Unaudited) | (Audited) | |
$ | $ |
Assets | |||
Current | |||
Cash | 3,730 | 104,685 | |
Prepaid expense | 10,000 | - | |
Accounts receivable | - | 910 | |
13,730 | 105,595 | ||
Office Equipment (Note 3) | 1,713 | - | |
Total Assets | 15,443 | 105,595 | |
Liabilities | |||
Current | |||
Accounts payable and accrued liabilities | 33,045 | 3,687 | |
Due to related parties | 11,250 | 6,000 | |
Total Liabilities | 44,295 | 9,687 | |
Stockholders’ Deficiency | |||
Common Stock Authorized: 50,000,000 shares , $0.00001 par value | |||
Issued and outstanding: 24,000,000 shares | |||
(December 31, 2004: 24,000,000 shares) | 240 | 240 | |
Additional Paid-In Capital | 100,761 | 100,761 | |
Donated Capital | 54,400 | 54,400 | |
Deficit Accumulated during the Development Stage | (184,253) | (59,493) | |
Total Stockholders’ Deficiency | (28,852) | 95,908 | |
Total Liabilities and Stockholders’ Deficiency | 15,443 | 105,595 |
See accompanying Notes to the Financial Statements
COLOMBIA GOLDFIELDS LTD. (FORMERLY SECURE AUTOMATED FILING ENTERPRISES INC.) (A Development Stage Enterprise) Statements of Operations (Unaudited) |
Cumulative | |||||
from Inception | |||||
Three Months | Three Months | Six onths | Six Months | on March 25, | |
Ended | Ended | Ended | Ended | 2003 to | |
June 30, | June 30, | June 30, | June 30, | June 30, | |
2005 | 2004 | 2005 | 2004 | 2005 | |
$ | $ | $ | $ | $ | |
Revenue | - | 1,041 | 763 | 2,314 | 9,827 |
General and Administrative Expenses | |||||
Audit | 2,122 | - | 2,122 | - | 9,842 |
Bank charges | 280 | 82 | 466 | 106 | 758 |
Consulting fees | 46,525 | 4,800 | 62,225 | 9,600 | 114,625 |
Corporate communications | 500 | - | 500 | - | 500 |
Depreciation | 67 | - | 67 | - | 67 |
Foreign exchange (gain) loss | - | - | - | - | (459) |
Legal and filing fees | 9,177 | 97 | 16,478 | 3,281 | 22,364 |
Office expenses | 3,750 | 60 | 3,750 | 60 1 | 4,176 |
Travel | 23,915 | - | 23,915 | - | 23,915 |
Web site and software development | 1,000 | 23 | 16,000 | 23 | 18,292 |
87,336 | 5,062 | 125,523 | 13,070 | 194,080 | |
Net Loss for the Period | (87,336) | (4,021) | (124,760) | (10,756) | (184,253) |
Basic Loss per Share | (0.0036) | (0.0005) | (0.0052) | (0.0013) | |
Weighted Average Number of Shares Outstanding | 24,000,000 | 8,000,000 | 24,000,000 | 8,000,000 |
See accompanying Notes to the Financial Statements
COLOMBIA GOLDFIELDS LTD. (FORMERLY SECURE AUTOMATED FILING ENTERPRISES INC.) (A Development Stage Enterprise) Statement of Stockholders’ Deficiency (Unaudited) |
From Inception of the Development Stage (March 25, 2003) to June 30, 2005:
Common Shares | Stock Amount | Additional Paid-in Capital | Donated Capital | Deficit Accumulated During the Development Stage | Total Stockholders’ Equity (Deficiency) | |
$ | $ | $ | $ | $ | ||
Issue of common stock for cash at $0.000125 per share on March 25, 2003 | 8 | - | 1 | - | - | 1 |
Issue of common stock for cash at $0.000125 per share on May 5, 2003 | 16,000,000 | 160 | 1,840 | - | - | 2,000 |
Repurchase of common stock for cash at $0.000125 per share on October 31, 2003 | (8,000,008) | (80) | (920) | - | - | (1,000) |
Donated Capital | - | - | - | 35,200 | - | 35,200 |
Net loss for the period | - | - | - | - | (36,399) | (36,399) |
Balance, December 31, 2003 | 8,000,000 | 80 | 921 | 35,200 | (36,399) | (198) |
Issue of common stock for cash at $0.00625 per share on December 20, 2004 | 16,000,000 | 160 | 99,840 | - | - | 100,000 |
Donated Capital | - | - | - | 19,200 | - | 19,200 |
Net loss for the year | - | - | - | - | (23,094) | (23,094) |
Balance, December 31, 2004 | 24,000,000 | 240 | 100,761 | 54,400 | (59,493) | 95,908 |
Net loss for the period | - | - | - | - | (124,760) | (124,760) |
Balance, June 30, 2005 | 24,000,000 | 240 | 100,761 | 54,400 | (184,253) | (28,852) |
See Accompanying Notes to the Financial Statements
COLOMBIA GOLDFIELDS LTD. (FORMERLY SECURE AUTOMATED FILING ENTERPRISES INC.) (A Development Stage Enterprise) Statements of Cash Flows (Unaudited) |
Cumulative | |||
from Inception | |||
Six Months | Six Months | on March 25, | |
Ended | Ended | 2003 to | |
June 30, | June 30, | June 30, | |
2005 | 2004 | 2005 | |
$ | $ | $ | |
Operating Activities | |||
Net loss for the period | (124,760) | (10,756) | (184,253) |
Items not requiring cash outlay: | |||
Consulting fees | - | 9,600 | 52,400 |
Depreciation | 67 | - | 67 |
Website design and software development | - | - | 2,000 |
Cash provided by (used in) changes | |||
In operating assets and liabilities | |||
- Prepaid expense | (10,000) | - | (10,000) |
- Accounts receivable | 910 | 301 | - |
- Accounts payable and accrued Liabilities | 29,358 | (3,118) | 33,045 |
- Due to related parties | 5,250 | 5,250 | 11,250 |
Net cash used in by operating activities | (99,175) | 1,277 | (95,491) |
Investing Activities | |||
Purchase of office equipment | (1,780) | - | (1,780) |
Net cash used in financing activities | (1,780) | - | (1,780) |
Financing Activities | |||
Common shares issued for cash | - | - | 101,001 |
Net cash provided by financing activities | - | - | 101,001 |
Net increase in cash during the period | 100,955 | 1,277 | 3,730 |
Cash Position, Beginning of Period | 104,685 | 3,491 | - |
Cash Position, End of Period | 3,730 | 4,768 | 3,730 |
See Accompanying Notes to the Financial Statements
COLOMBIA GOLDFIELDS LTD. (FORMERLY SECURE AUTOMATED FILING ENTERPRISES INC.) (A Development Stage Enterprise) Notes to the Financial Statements (Unaudited) |
June 30, 2005 |
NOTE 1 - BASIS OF PRESENTATION
The accompanying unaudited interim financial statements of COLOMBIA GOLDFIELDS LTD. (formerly Secure Automated Filing Enterprises, Inc.) have been prepared in accordance with generally accepted accounting principles for interim financial information and the instructions to Form 10-QSB as prescribed by the United States of America Securities and Exchange Commission. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with United States of America generally accepted accounting principles have been condensed or omitted pursuant to such instructions. These unaudited financial statements should be read in conjunction with the audited financial statements and notes thereto as at December 31, 2004.
In the opinion of the Company's management, all adjustments considered necessary for a fair presentation of these unaudited financial statements have been included and all such adjustments are of a normal recurring nature. Operating results for the six month period ended June 30, 2005 are not necessarily indicative of the results that can be expected for the year ended December 31, 2005.
The Company changed its name from Secure Automated Filing Enterprises, Inc to Colombia Goldfields Ltd. on May 13, 2005. During the quarter ended June 30, 2005 the Company also changed its operational focus from providing edgarization services to exploration for and development of mineral properties.
NOTE 2 - GOING CONCERN
In a development stage company, management devotes most of its activities towards developing a market for its products. Planned principal business activities have not yet commenced. To date, the Company has generated only nominal amounts of revenue and has not yet established a customer base. As at June 30, 2005, the Company has nominal cash resources and it is likely that the Company needs to offer for sale additional common stock to continue the development of its business. Management intends to secure additional financing through the issuance of stock. However, there can be no assurance that management will be successful in its efforts to secure additional financing through the issuance of common stock, or that it will ever develop a business which is self-supporting. These factors together raise substantial doubt about its ability to continue as a going concern. The financial statements do not include any adjustment to reflect the possible future effect on the recoverability and classification of the assets or the amounts and classification of liabilities that may result should the Company cease to continue as a going concern.
NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Office Equipment
Office equipment is carried at cost and is amortized over its estimated useful life at a rate of 30% straight line per year.
Office equipment is written down to its net realizable value if it is determined that its carrying value exceeds estimated future benefits to the Company.
NOTE 4 - RELATED PARTY TRANSACTIONS
During the 6 months ended June 30, 2005 consulting fees include $7,500 ($9,600 for 2004) for services provided by a director and officer, and office expenses include $3,750 ($nil for 2004) for services provided by a company with a director in common with the Company.
COLOMBIA GOLDFIELDS LTD. (FORMERLY SECURE AUTOMATED FILING ENTERPRISES INC.) (A Development Stage Enterprise) Notes to the Financial Statements (Unaudited) |
June 30, 2005 |
NOTE 5 - SUBSEQUENT EVENTS
Subsequent to June 30, 2005 the Company received subscriptions for 1,125,000 units and received total proceeds of $281,225. Each unit is priced at $0.25 and consists of one share of restricted common stock and one warrant to purchase one share of restricted common stock at an exercise price of $0.50 exercisable for twelve (12) months after the close of the offering. The offering is ongoing and at present the Company has not accepted these subscriptions and no shares have been issued.
Further, subsequent to June 30, 2005 the Company advanced a refundable deposit of $200,000 to a Belize Company with which it is in negotiations to acquire an option to engage in mining exploration on three concessions located in Colombia.
Item 2. Management’s Discussion and Analysis
Forward-Looking Statements
Historical results and trends should not be taken as indicative of future operations. Management’s statements contained in this report that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934 (the “Exchange Act”), as amended. Actual results may differ materially from those included in the forward-looking statements. The Company intends 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 is including this statement for purposes of complying with those safe-harbor provisions. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies and expectations of the Company, are generally identifiable by use of the words “believe,”“expect,”“intend,”“anticipate,”“estimate,”“project,”“prospects,” or similar expressions. The Company’s 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 the operations and future prospects of the Company 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 be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Further information concerning the Company and its business, including additional factors that could materially affect the Company’s financial results, is included herein and in the Company’s other filings with the SEC.
Management’s Discussion and Analysis
We were incorporated in the state of Nevada on March 25, 2003 under the name Secure Automated Filing Enterprises Inc. Since our incorporation, our business was focused on servicing corporations that are required by the federal securities laws to publicly file various reports with the Securities and Exchange Commission (‘SEC”). These corporations must submit all required reports to the SEC electronically under a system called Electronic Data Gathering Analysis and Retrieval or “EDGAR.” In order to file any report with the SEC electronically through EDGAR, filers must first format their disclosure documentation into either ASCII or HTML format. Reports submitted on EDGAR are available to the public on the SEC web site as well as through other information providers. We primarily provided a service that formatted filers’ disclosure documentation into either ASCII or HTML format and then submitted the reports electronically to the SEC on behalf of the filer.
On March 3, 2005, Mr. Hunter acquired 34% of our issued and outstanding shares and was appointed as our Chief Executive Officer, Chief Financial Officer, and director. Also at this time, our former management resigned.
During the first quarter, we received notice from all of our customers that they were terminating our contracts with them. Due to the termination of all of our service contracts, our failure to generate any additional business and the resignations of prior management, our current management began to evaluate the viability of our business plan and sought to reorganize our operations.
Our management is currently seeking other potential opportunities for acquisition that are consistent with the expertise of our current management. During the reporting period, our board of directors appointed Hernando Molina Velez and Thomas Ernest McGrail to serve as members of the board of
directors and Luis Gabriel Correa Ocampo was appointed to serve as a Vice President of Exploration. Messrs. Velez, McGrail, and Ocampo all have professional experience related to mining exploration.
On March 15, 2005, we entered into an agreement with a consultant to evaluate mining exploration and development activities. Our consultant identified a mining property in the Caramanta Municipality, Antioquia Department, Colombia that would be suitable for us to acquire a working interest in. On June 27, 2005, we signed a letter of intent with Investcol Ltd., a Belize corporation, to acquire an option to engage in mining exploration on Concessions 6602, 1343, and 6329 located in the Caramanta Municipality, Antioquia Department, Colombia for the period of three years. The parties proposed that the purchase price shall be (a) $550,000 payable to Investcol within 60 days of executing a definite agreement and (b) an undertaking to invest $3,000,000 in exploration activities as follows: (i) $300,000 during the first six months of the definitive agreement, (ii) $700,000 during the second year of the agreement, and (iii) $2,000,000 during the third year of the agreement. The parties further intend that Investcol will be the sole operator of the exploration activities on the properties described above during the proposed three year term of a definitive agreement. This proposed transaction is contingent upon the parties due diligence and the executive of a definitive agreement. The parties have agreed to use their reasonable efforts to close the proposed transaction on or before August 31, 2005.
We anticipate that a definitive agreement will be completed prior to August 31, 2005. As evidence of our good faith to enter into a definitive agreement, we advanced $200,000 to Investcol Ltd. as a refundable deposit.
Results of Operations
We did not generate any revenue during the three month period ended June 30, 2005, compared to revenue of $1,041 for the same three month period in the prior year. We generated $763 in revenue for the six months ended June 30, 2005, compared to $2,314 for the six months ended June 30, 2004. During the first quarter, all revenue was generated solely from providing EDGAR filing services under our prior business plan. Following our receipt of notice from all of our customers that they were terminating our contracts with them in the first quarter, we ceased providing EDGAR filing services and reorganized our operations. During the second quarter, we began to pursue opportunities in the mining exploration business. As a result of this period of reorganization, we did not have any business operations during the second quarter. The decrease in our revenue is attributable to our inability to successfully establish and grow a customer base which lead us to reorganize our operations. We do not anticipate earning revenues until such time that we enter into a definite agreement to acquire a working interest in a property and commercially exploitable mineral deposits exist on the property and are placed into commercial production.
We incurred operating costs and expenses during the three month period ended June 30, 2005 in the amount of $87,336, as compared to $5,062 for the same three month period in the prior year. We incurred operating costs and expenses for the six month period ended June 30, 2005 in the amount of $125,523, as compared to $13,070 for the same three month period in the prior year. The increase in our operating expenses for the three and six month period ended June 30, 2005 when compared to the same reporting period in the prior year was attributable to expenditures for consulting fees and travel associated with pursing opportunities in the mining exploration business. During the three month period ended June 30, 2005, we incurred $46,525 for consulting fees and $23,915 in travel expenditures. During the six month period ended June 30, 2005, we incurred $62,225 for consulting fees and $23,915 in travel expenditures. We also retained a consultant on March 15, 2005 to evaluate mining exploration and development activities and pay $10,000 monthly for these services over a five month period.
Assets
As of June 30, 2005, we had total assets of $15,443. Our assets on June 30, 2005 consisted of prepaid expenses in the amount of $10,000, $1,713 in office equipment, and cash in the amount of $3,730.
Liquidity and Capital Resources
As of June 30, 2005, we had current assets of $13,730 and current liabilities of $44,295. As a result, we had working capital deficit of $30,565.
Based upon the current financial condition of the company, our management anticipates that the current cash on hand is insufficient for us to operate our business through the end of the fiscal year. We have commenced a private equity offering in an attempt to secure funding to execute our business plan. There can be no assurance that we will be successful in raising additional funding. If we are not able to secure additional funding, the implementation of our business plan will be impaired. There can be no assurance that such additional financing will be available to us on acceptable terms or at all.
Going Concern
To date, we have generated only nominal amounts of revenue and have not yet established profitable operations. As of June 30, 2005, we had nominal cash resources and require financing to continue the development of our business. There can be no assurance that we will be successful in raising the funds necessary to maintain operations, or that a self-supporting level of operations will ever be achieved. For these reasons, our auditors have concluded that there is substantial doubt about our ability to continue as a going concern. The financial statements do not include any adjustment to reflect the possible future effect on the recoverability and classification of the assets or the amounts and classification of liabilities that may result should we cease to continue as a going concern.
Revenue Recognition
We recognized revenue when we obtained a contract or written request from the customer; rendered services and filed the disclosure statements with the U.S. Securities and Exchange Commission and when we were reasonably assured that the service fee would be collectible.
Item 3. Controls and Procedures
We carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of June 30, 2005. This evaluation was carried out under the supervision and with the participation of our Chief Executive Officer and Chief Financial Officer, Mr. Dan Hunter. Based upon that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that, as of June 30, 2005, our disclosure controls and procedures are effective. There have been no significant changes in our internal controls over financial reporting during the quarter ended June 30, 2005 that have materially affected or are reasonably likely to materially affect such controls.
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 Exchange Act are recorded, processed, summarized and reported, within the time periods specified in the SEC's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in our reports filed under the Exchange Act
is accumulated and communicated to management, including our Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure.
Limitations on the Effectiveness of Internal Controls
Our management does not expect that our disclosure controls and procedures or our internal control over financial reporting will necessarily prevent all fraud and material error. An internal control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within the Company have been detected. These inherent limitations 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 the internal control. The design of any system of controls also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions. Over time, control may become inadequate because of changes in conditions, or the degree of compliance with the policies or procedures may deteriorate.
PART II - OTHER INFORMATION
Item 1. Legal Proceedings
We are not a party to any pending legal proceeding. We are not aware of any pending legal proceeding to which any of our officers, directors, or any beneficial holders of 5% or more of our voting securities are adverse to us or have a material interest adverse to us.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
We commenced an exempt offering of units to accredited investors pursuant to Rule 506 of Regulation D under the Securities Act. This offering is currently ongoing. Each unit is priced at $0.25 and consists of one share of restricted common stock and one warrant to purchase one share of restricted common stock at an exercise price of $0.50 exercisable for twelve (12) months after the close of the offering. Subsequent to the reporting period, we received subscriptions from eight (8) accredited investors for 1,125,000 units and received total proceeds of $281,225. At the present time, our board of directors has not accepted these subscription and no shares have been issued under this private offering.
Item 3. Defaults upon Senior Securities
None
Item 4. Submission of Matters to a Vote of Security Holders
During the reporting period on May 13, 2005, we held our annual meeting of our security holders. The meeting was called for the purpose of electing a director, approving a name change to Moneta Mining Ltd., and to transact any other items of business that may properly come before the meeting. The total number of shares of common stock outstanding at the record date, March 15, 2005, was 24,000,000 shares. The number of votes represented at this meeting was 18,148,000 shares, or 75.6% of shares eligible to vote.
Daniel Hunter was elected as director and the results were as follows:
Votes Cast For | Votes Cast Against | Abstentions |
18,148,000 | 0 | 0 |
The proposal to change our name to Moneta Mining Ltd. was not approved by the security holder and the results were as follows:
Votes Cast For | Votes Cast Against | Abstentions |
0 | 18,148,000 | 0 |
A proposal to change our name to Colombia Goldfields Ltd. was properly brought before the meeting and our security holders approved this item. The results were as follows:
Votes Cast For | Votes Cast Against | Abstentions |
18,148,000 | 0 | 0 |
The following the approval of a change in our name, a Certificate of Amendment to the articles of incorporation was filed with the Nevada Secretary of State on May 13, 2005 to change our name to Colombia Goldfields Ltd. No other matters were acted upon by our security holders at our annual meeting.
Item 5. Other Information
None.
Item 6. Exhibits
Exhibit Number | Description of Exhibit |
31.1 | |
31.2 | |
32.1 |
SIGNATURES
In accordance with the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Colombia Goldfields, Ltd. | |
Date: | August 12, 2005 |
By:/s/ Dan Hunter Dan Hunter Title: President and Chief Executive Officer |
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