Anmore 10QSB Quarterly report (small business)

 

UNITED STATES 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 September 30, 2005.

or

o 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 000-50336

ANMORE, INC.

(Exact name of registrant as specified in its charter)

Florida	20-0398885
(State or other jurisdiction of	(I.R.S. Employer Identification No.)
incorporation or organization)

4770 Biscayne Blvd., Suite 1470, Miami, Florida	33137
(Address of principal executive offices)	(Zip Code)

(305)-576-6833

(Registrant’s telephone number, including area code)

(Former name, former address and former fiscal year, if changed since last report)

Check whether the issuer (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act 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 No o

Indicate by check mark whether the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act.

Yes x No o

State the number of shares outstanding of each of the issuer’s classes of common equity, as of November 21, 2005: 10,350,000 shares of common stock outstanding, $0.001 par value.

ANMORE, INC.

FINANCIAL STATEMENTS

INDEX

PART I-- FINANCIAL INFORMATION

Item 1. Financial Statements

Item 2. Management’s Discussion and Analysis of Financial Condition

Item 3. Control and Procedures

PART II-- OTHER INFORMATION

Item 1. Legal Proceedings

Item 2. Changes in Securities

Item 3. Defaults Upon Senior Securities

Item 4. Submission of Matters to a Vote of Security Holders

Item 5. Other Information

Item 6. Exhibits and Reports on Form 8-K

SIGNATURE

Item 1. Financial Information

BASIS OF PRESENTATION

The accompanying reviewed financial statements are presented in accordance with generally accepted accounting principles for interim financial information and the instructions to Form 10-QSB and item 310 under subpart A of Regulation S-B. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting only of normal occurring accruals) considered necessary in order to make the financial statements not misleading, have been included. Operating results for the nine months ended September 30, 2005 are not necessarily indicative of results that may be expected for the year ending December 31, 2005. The financial statements are presented on the accrual basis.

ANMORE INC.

CONDENSED FINANCIAL STATEMENTS

September 30, 2005

(Unaudited)

TABLE OF CONTENTS

Page

Condensed Balance Sheets 2

Condensed Statement of Operations 3

Condensed Statement of Cash Flows 4

Notes to the Condensed Financial Statements 5

ANMORE, INC.
CONDENSED BALANCE SHEETS
				September 30,		December 31,
				2005		2004
				(Unaudited)
ASSETS
CURRENT ASSETS:
	Cash and cash equivalents		$	27,342	$	118,342
	Prepaid premium on related party commitment to note payable			-		100,000
		TOTAL ASSETS	$	27,342	$	218,342
LIABILITIES AND STOCKHOLDER’S EQUITY (DEFICIENCY)
CURRENT LIABILITIES:
	Accrued expenses		$	7,000	$	2,000
	Loan payable to related party			4,000		4,000
		TOTAL LIABILITIES		11,000		6,000
STOCKHOLDERS’ EQUITY (DEFICIENCY):
	Preferred stock - par value $0.001;
		5,000,000 shares authorized; none issued and outstanding		-		-
	Common stock - par value $0.001;
		50,000,000 shares authorized; 10,350,000 issued and outstanding		10,350		19,900
	Additional paid-in capital			194,750		376,200
	Accumulated deficit			(188,758)		(183,758)
	TOTAL STOCKHOLDERS’ EQUITY ( DEFICIENCY)		$	16,342	$	212,342
		TOTAL LIABILITIES
		AND STOCKHOLDERS’ EQUITY (DEFICIENCY)	$	27,342	$	218,342

The accompanying notes are an integral part of these financial statements.

2

ANMORE, INC.
CONDENSED STATEMENTS OF OPERATIONS
								Three Months Ended		Three Months Ended				Nine Months Ended
												Nine Months Ended
								September 30,		September 30,		September 30,		September 30,
								2005		2004		2005		2004
								(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)
REVENUES				$				-	$	-	$	-	$	-
OPERATING EXPENSES						1,500				1,658		5,000		181,658
LOSS BEFORE TAXES					(1,500)					(1,658)		(5,000)		(181,658)
	INCOME TAXES				-					-		-		-
	NET LOSS		$				(1,500)		$	(1,658)	$	(5,000)	$	(181,658)
NET LOSS PER SHARE – Basic and Diluted		$			(0.00)				$	(0.00)	$	(0.00)	$	(0.03)
Weighted average common
	shares - Basic and diluted				10,350,000					13,067,778		10,974,540		5,776,676

The accompanying notes are an integral part of these financial statements.

3

ANMORE, INC.
CONDENSED STATEMENT OF CASH FLOWS
				Nine Months Ended
				September 30,
				2005
				(Unaudited)
CASH FLOWS FROM OPERATING ACTIVITIES
	Net loss		$	(5,000)
	Changes in current assets and current liabilities
		Decrease in premium		100,000
		Increase in accrued expenses		5,000
NET CASH FLOWS USED BY OPERATING ACTIVITIES				100,000
CASH FLOWS FROM INVESTING ACTIVITIES
NET CASH USED BY INVESTING ACTIVITIES				-
CASH FLOWS FROM FINANCING ACTIVITIES
	Cancellation of Common Stock			(191,000)
NET CASH PROVIDED BY FINANCING ACTIVITIES				(191,000)
NET INCREASE (DECREASE) IN CASH				(91,000)
CASH - BEGINNING OF PERIOD				118,342
CASH - END OF PERIOD			$	27,342

The accompanying notes are an integral part of these financial statements.

4

ANMORE, INC.

NOTES TO CONDENSED FINANCIAL STATEMENTS

September 30, 2005

1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:

Business: Anmore, Inc. (the Company), a Company incorporated in the state of Florida as of June 25, 2003, plans to locate and negotiate with a business entity for the combination of that target company with The Company. The combination will normally take the form of a merger, stock-for-stock exchange or stock- for-assets exchange. In most instances the target company will wish to structure the business combination to be within the definition of a tax-free reorganization under Section 351 or Section 368 of the Internal Revenue Code of 1986, as amended. No assurances can be given that The Company will be successful in locating or negotiating with any target company.

The Company has been formed to provide a method for a foreign or domestic private company to become a reporting (“public”) company whose securities are qualified for trading in the United States secondary market.

Interim Financial Statements: The interim financial statements presented herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations. The interim financial statements should be read in conjunction with the Company’s annual financial statements, notes and accounting policies included in the Company’s annual report on Form 10-KSB for the year ended December 31, 2004 as filed with the SEC. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) which are necessary to provide a fair presentation of financial position as of September 30, 2005 and the related operating results and cash flows for the interim period presented have been made. The results of operations, for the period presented are not necessarily indicative of the results to be expected for the year.

2. STOCKHOLDER’S EQUITY:

In January 2005, the Company cancelled 5,000,000 shares of common stock which were issued to CASAU Group, Inc. in connection with a promissory note in the amount of $150,000.

During the quarter ended March 31, 2005, in connection with the private placement, the Company cancelled 4,550,000 shares of common stock. The fair value of the common stock was $91,000 based on the recent private placement value at $0.02 per share.

5

Item 2. Management’s Discussion and Analysis of Financial Conditions and Results

of Operations

Plan of Operation

We have sufficient funds to implement our business plan. Since our directors and officers will forgo compensation for the next twelve months and the need for additional employees is unlikely except for part-time clerical services, our costs will be kept to a minimum. Having low administrative and employee costs will allow us to spend our cash mostly on research of our market for the finding of a viable project. Although the third party note mentioned in previous filings has been mutually cancelled, it was done so because, to date, the local real estate market has not provided an opportunity for us to purchase. We will be able to revisit that loan in the future when we have found a prospective property. As a result of the on-going search for a “starter property” we also chose to repurchase many of the shares sold during our private placement. This was done in order to maintain a good capital structure, which will help us in raising funds in the future. Specifically, our plan of operation for the next 12 months requires us to:

a.	The research of various properties in the greater Miami area. Once we have approval of this registration, we will begin to place offers for purchase. We believe the cash in the bank is sufficient enough to place the initial down payment and we believe we will be successful in retaining financing for remainder of the purchase and/or improvements.
b.	Complete the construction of our website.

If we are unsuccessful in obtaining financing for any property, we will not be able to fully commence our operations, at a level, as planned and discussed. As of November 21, 2005, we do not have any plans to raise additional funding through the sale of any stock apart from the completed private placement.

Results of Operation

For the fiscal period ended September 30, 2005, our startup and development activities included the evaluation of potential real estate areas in the Greater Miami area, meetings and discussions with investors and financial institutions for future financing of properties and reviewing the suitability of becoming a publicly traded company.

Critical Accounting Policies

Our financial statements and related public financial information are based on the application of accounting principles generally accepted in the United States (“GAAP”). GAAP requires the use of estimates; assumptions, judgments and subjective interpretations of accounting principles that have an impact on the assets, liabilities, revenue and expense amounts reported. These estimates can also affect supplemental information contained in our external disclosures including information regarding contingencies, risk and financial condition. We believe our use of estimates and underlying accounting assumptions adhere to GAAP and are consistently and conservatively  applied. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. Actual results may differ materially from these estimates under different assumptions or conditions. We continue to monitor significant estimates made during the preparation of our financial statements.

Item 3. Controls and Procedures

(a) Evaluation of disclosure controls and procedures.

Our Chief Executive Officer and Chief Financial Officer (collectively the “Certifying Officers”) maintain a system of disclosure controls and procedures that is designed to provide reasonable assurance that information, which is required to be disclosed, is accumulated and communicated to management timely. Under the supervision and with the participation of management, the Certifying Officers evaluated the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rule [13a-14(c)/15d-14(c)]under the Exchange Act) within 90 days prior to the filing date of this report. Based upon that evaluation, the Certifying Officers concluded that our disclosure controls and procedures are effective in timely alerting them to material information relative to our company required to be disclosed in our periodic filings with the SEC.

(b) Changes in internal controls.

Our Certifying Officer has indicated that there were no significant changes in our internal controls or other factors that could significantly affect such controls subsequent to the date of his evaluation, and there were no such control actions with regard to significant deficiencies and material weaknesses.

PART II - OTHER INFORMATION

Item 1. Legal Proceedings. None.

Item 2. Changes in Securities. None

Item 3. Defaults Upon Senior Securities. Not Applicable

Item 4. Submission of Matters to a Vote of Security Holders. None

Item 5. Other Information. None

Item 6. Exhibits and Reports of Form 8-K. None.

 (a) Exhibits

Exhibit 31.1 – Certification of the CEO and CFO Pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934, as amended, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

Exhibit 32.1 - Certification of the CEO and CFO Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

(b) Reports of Form 8-K

No reports on Form 8-K were filed for this quarter of 2005.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) 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, on August 22, 2005.

ANMORE, INC.

Date:	November 21, 2005		/s/ Giorgio Saumat
		Giorgio Saumat
		President, Secretary and Director