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: March 31, 2008
[ ] | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the Transition period from: ____________________to____________________
Commission File No. 333-137098
IMMS, Inc.
(Exact name of Small Business Issuer as specified in its charter)
NEVADA | 95-4862281 | |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification Number) |
660 Newport Center Drive Ste. 720
Newport Beach CA 92660
(Address of principal executive offices and Zip Code)
(949) 721-1725
(Issuer’s telephone number, including area code)
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No o
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer /_/ | Accelerated filer /_/ | Non-accelerated filer /_/ (Do not check if a smaller reporting company) | Smaller reporting company /x/ |
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No þ
The number of shares of the registrant’s common stock outstanding on May 1, 2008 was 12,407,276.
Transitional Small Business Disclosure Format (Check One): Yes o No þ
IMMS, INC.
QUARTERLY REPORT ON FORM 10QSB
FOR THE SIX MONTHS ENDED JUNE 30, 2007
TABLE OF CONTENTS
Page | ||
Part 1 | Financial Information | |
Balance Sheet as of March 31, 2008 (Unaudited) | 1 | |
Statements of Operations (Unaudited) for the Three Months Ended March 31, 2008 and March 31, 2007 | ||
and for the Period from January 1, 2003 to march 31, 2008. | 2 | |
Statements of Cash Flows (Unaudited) for the Six Months Ended March 31, 2008 and March 31, 2007 | ||
and for the Period from January 1, 2003 to March 31, 2008. | 3 | |
Notes to the Financial Statements | 5 | |
Item 2 | Management’s Discussion and Analysis of Financial Condition and Results of Operation | 7 |
Item 3 | Controls and Procedures | 10 |
Part II | Other Information | 10 |
Item 2 | Unregistered Sales of Equity Securities and Use of Proceeds. | 10 |
Item 6 | Exhibits and Reports on Form 8-K | 10 |
Signatures | 11 |
PART I- FINANCIAL INFORMATION
ITEM 1. Financial Statements
In the opinion of management, the accompanying unaudited financial statements included in this Form 10-QSB reflect all adjustments (consisting only of normal recurring accruals) necessary for a fair presentation of the results of operations for the periods presented. The results of operations for the periods presented are not necessarily indicative of the results to be expected for the full year.
IMMS, INC.
(A Development Stage Company)
BALANCE SHEET
(Unaudited)
Mar. 31, 2008 | ||||
ASSETS | ||||
Current assets | ||||
Cash | $ | 5,983 | ||
Lease receivable | 1,714 | |||
Total current assets | 7,697 | |||
Fixed assets - net | 81,223 | |||
Total Assets | $ | 88,920 | ||
LIABILITIES & STOCKHOLDERS' EQUITY | ||||
Current liabilities | ||||
Accounts payable | $ | 27,402 | ||
Notes payable - current | 6,388 | |||
Other payables | 1,342 | |||
Total current liabilties | 35,132 | |||
Notes payable | 175,224 | |||
Total Liabilities | 210,356 | |||
Stockholders' Equity | ||||
Preferred stock, $.001 par value; | ||||
10,000,000 shares authorized; | ||||
none issued or outstanding | - | |||
Common stock, $.001 par value; | ||||
190,000,000 shares authorized; | ||||
12,407,276 shares issued and | ||||
outstanding | 12,407 | |||
Additional paid in capital | 909,034 | |||
Deficit accumulated during the | ||||
development stage | (1,042,877 | ) | ||
Total Stockholders' Equity | (121,436 | ) | ||
Total Liabilities and Stockholders' Equity | $ | 88,920 |
The accompanying notes are an integral part of the financial statements.
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IMMS, INC.
(A Development Stage Company)
STATEMENTS OF OPERATIONS
(Unaudited)
Three Months | Three Months | Jan. 1, 2003 | ||||||||||
Ended | Ended | (Inception) To | ||||||||||
Mar. 31, 2007 | Mar. 31, 2008 | Mar. 31, 2008 | ||||||||||
Revenues | $ | - | $ | 500 | $ | 16,367 | ||||||
Revenues - related party | 5,141 | 26,559 | ||||||||||
- | 5,641 | $ | 42,926 | |||||||||
Operating expenses: | ||||||||||||
Amortization & depreciation | 17,943 | 11,945 | 238,501 | |||||||||
General and administrative | 22,563 | 5,467 | 845,569 | |||||||||
40,506 | 17,412 | 1,084,070 | ||||||||||
Operating - other: | ||||||||||||
Gain on asset sales | 21,250 | - | 45,866 | |||||||||
Gain (loss) from operations | (19,256 | ) | (11,771 | ) | (995,278 | ) | ||||||
Other income (expense): | ||||||||||||
Interest revenue | - | 28 | ||||||||||
Interest expense | (6,045 | ) | (2,894 | ) | (43,590 | ) | ||||||
Other | 125 | - | 398 | |||||||||
(5,920 | ) | (2,894 | ) | (43,164 | ) | |||||||
Income (loss) before | ||||||||||||
provision for income taxes | (25,176 | ) | (14,665 | ) | (1,038,442 | ) | ||||||
Provision for income tax | - | - | - | |||||||||
Net income (loss) | $ | (25,176 | ) | $ | (14,665 | ) | $ | (1,038,442 | ) | |||
Net income (loss) per share | ||||||||||||
(Basic and fully diluted) | $ | (0.00 | ) | $ | (0.00 | ) | ||||||
Weighted average number of | ||||||||||||
common shares outstanding | 8,482,320 | 10,987,264 |
The accompanying notes are an integral part of the financial statements.
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IMMS, INC.
(A Development Stage Company)
STATEMENTS OF CASH FLOWS
(Unaudited)
Period From | ||||||||||||
Three Months | Three Months | Jan. 1, 2003 | ||||||||||
Ended | Ended | (Inception) To | ||||||||||
Mar. 31, 2007 | Mar. 31, 2008 | Mar. 31, 2008 | ||||||||||
Cash Flows From Operating Activities: | ||||||||||||
Net income (loss) | $ | (25,176 | ) | $ | (14,665 | ) | $ | (1,038,442 | ) | |||
Adjustments to reconcile net loss to | ||||||||||||
net cash provided by (used for) | ||||||||||||
operating activities: | ||||||||||||
Amortization & depreciation | 17,943 | 11,945 | 238,501 | |||||||||
Other assets | ||||||||||||
Bank overdraft | ||||||||||||
Gain on asset sales | (21,250 | ) | - | (45,866 | ) | |||||||
Accrued payables | 7,096 | (676 | ) | 27,402 | ||||||||
Accrued payables - related parties | 3,512 | - | 51,825 | |||||||||
Unearned revenue - related parties | 3,000 | (1,714 | ) | (1,714 | ) | |||||||
Other payables | 1,995 | 250 | 6,976 | |||||||||
Net cash provided by (used for) | ||||||||||||
operating activities | (12,880 | ) | (4,860 | ) | (761,318 | ) | ||||||
Cash Flows From Investing Activities: | ||||||||||||
Fixed asset purchases | - | (353,858 | ) | |||||||||
Fixed asset sales | 30,000 | - | 145,000 | |||||||||
Net cash provided by (used for) | ||||||||||||
investing activities | 30,000 | - | (208,858 | ) | ||||||||
Cash Flows From Financing Activities: | ||||||||||||
Notes & loans payable - borrowings | 5,000 | 5,100 | 551,872 | |||||||||
Notes & loans payable - payments | (1,392 | ) | (729 | ) | (96,213 | ) | ||||||
Sales of common stock | 520,500 | |||||||||||
Net cash provided by (used for) | ||||||||||||
financing activities | 3,608 | 4,371 | 976,159 | |||||||||
Net Increase (Decrease) In Cash | 20,728 | (489 | ) | 5,983 | ||||||||
Cash At The Beginning Of The Period | 11,846 | 6,472 | - | |||||||||
Cash At The End Of The Period | $ | 32,574 | $ | 5,983 | $ | 5,983 | ||||||
Schedule Of Non-Cash Investing And Financing Activities | ||||||||||||
In February and March 2008 related parties converted $117,749 in loans and accrued interest into | ||||||||||||
3,924,956 shares of common stock at a conversion rate of $.03 per share. | ||||||||||||
Supplemental Disclosure | ||||||||||||
Cash paid for interest | $ | 4,050 | $ | 2,644 | ||||||||
Cash paid for income taxes | $ | - | $ | - |
(Continued On Following Page)
The accompanying notes are an integral part of the financial statements.
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IMMS, INC.
(A Development Stage Company)
STATEMENTS OF CASH FLOWS
(Unaudited)
(Continued From Previous Page)
Period From | ||||||||||||
Three Months | Three Months | Jan. 1, 2003 | ||||||||||
Ended | Ended | (Inception) To | ||||||||||
Mar. 31, 2007 | Mar. 31, 2008 | Mar. 31, 2008 | ||||||||||
Cash Flows From Financing Activities: | ||||||||||||
Notes & loans payable - borrowings | 5,000 | 5,100 | 551,872 | |||||||||
Notes & loans payable - payments | (1,392 | ) | (729 | ) | (96,213 | ) | ||||||
Sales of common stock | 520,500 | |||||||||||
Net cash provided by (used for) | ||||||||||||
financing activities | 3,608 | 4,371 | 976,159 | |||||||||
Net Increase (Decrease) In Cash | 20,728 | (489 | ) | 5,983 | ||||||||
Cash At The Beginning Of The Period | 11,846 | 6,472 | - | |||||||||
Cash At The End Of The Period | $ | 32,574 | $ | 5,983 | $ | 5,983 | ||||||
Schedule Of Non-Cash Investing And Financing Activities | ||||||||||||
In February and March 2008 related parties converted $117,749 in loans and accrued interest into | ||||||||||||
3,924,956 shares of common stock at a conversion rate of $.03 per share. | ||||||||||||
Supplemental Disclosure | ||||||||||||
Cash paid for interest | $ | 4,050 | $ | 2,644 | ||||||||
Cash paid for income taxes | $ | - | $ | - |
The accompanying notes are an integral part of the financial statements.
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IMMS, INC.
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
(Unaudited)
NOTE 1. ORGANIZATION, OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
IMMS, Inc. (the “Company”), was incorporated in the State of Nevada on May 10, 2001 under the name North American Association for Commerce Enabled Small Businesses. In 2001 the Company changed its name to General Pacific Corp., in 2003 to O'Connell Motorsports Group, Inc., and in 2004 to IMMS, Inc. The Company designs and assembles motorsport racecars for its own use, and competes in organized racing events. The Company is currently considered to be in the development stage, and has generated only limited revenues from its activities in the racing business.
Basis of Presentation
The accompanying unaudited financial statements have been prepared in accordance with the instructions to Form 10-QSB and do not include all of the information and disclosures required by generally accepted accounting principles for complete financial statements. All adjustments which are, in the opinion of management, necessary for a 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 such interim periods are not necessarily indicative of operations for a full year.
Cash and cash equivalents
The Company considers all highly liquid investments with an original maturity of three months or less as cash equivalents.
Accounts receivable
The Company reviews accounts receivable periodically for collectability and establishes an allowance for doubtful accounts and records bad debt expense when deemed necessary. At March 31, 2008 the Company had no balance in its allowance for doubtful accounts.
Property and equipment
Property and equipment are recorded at cost and depreciated under straight line methods over each item's estimated useful life. The Company uses a five year life for racecars and for shop and pit equipment.
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IMMS, INC.
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
(Unaudited)
NOTE 1. ORGANIZATION, OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued):
Revenue recognition
Revenue is recognized on an accrual basis as earned under contract terms.
Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Income tax
The Company accounts for income taxes under Statement of Financial Accounting Standards No. 109 (“SFAS 109”). Under SFAS 109 deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.
Net income (loss) per share
The net income (loss) per share is computed by dividing the net income (loss) by the weighted average number of shares of common outstanding. Warrants, stock options, and common stock issuable upon the conversion of the Company's preferred stock (if any), are not included in the computation if the effect would be anti-dilutive and would increase the earnings or decrease loss per share.
Financial Instruments
The carrying value of the Company’s financial instruments as reported in the accompanying balance sheet, approximates fair value.
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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION
DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS
Overview
This Report on Form 10QSB contains forward-looking statements that involve risks and uncertainties. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date that they are made. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The following discussion should be read in conjunction with the consolidated financial statements and notes thereto included in this prospectus.
We are a small motorsports race car business that has participated primarily in NASCAR (the National Association for Stock Car Auto Racing) and NASA (National Auto Sports Association.) sanctioned events. We utilize our racecars to provide marketing and public relations services to clients desiring to use our racecars to market their product or service by having our vehicles carry their logo and brand. We have conducted limited operations to date.
Trends & Outlook
Revenue; Our revenue is currently derived from Sponsorship clients. In exchange for “sponsorship” money, our clients place advertisements on our race cars.
Long-term, we cannot predict the growth or decline of our revenues. If certain standards set by our sponsors are, or are not met we could increase or decrease our sponsor revenue. Such standards are agreed upon between the Company and sponsors at the inception of the sponsor agreement and are based upon “performance.” Performance criteria includes but is not limited to on racetrack success, hospitality, race event attendance by specific demographics and overall media coverage. We believe currently satisfy these standards for our current sponsors. In the event the company fails to satisfy these standards, certain sponsors could terminate their relationship with us. We currently maintain these standards by interacting with our sponsors on a regular basis and updating their expectations of us.
At present, we are in the process of moving to the NASCAR Camping World West Series (regional) and the NASCAR Nationwide Series (national) where we will enter select road racing events. We believe these series provide a broader market and expanded media for our sponsors. Additionally, we will maintain our select racing calendar in the NASA/ASC road racing series. All oval track racing will be terminated for the foreseeable future.
Operating Expenses; Our Operating expenses are currently attributed to the daily operations of the company. These expenses include, but are not limited to, materials and parts, consulting, transportation, marketing, travel and administrative costs. These costs can vary depending on fuel costs, distances, and cost of advertising or changes in consulting fees.
Significant Accounting Policies
Our financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of these financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. Note 1 of the Notes to Consolidated Financial Statements describes the significant accounting policies used in the preparation of the consolidated financial statements. Certain of these significant accounting policies are considered to be critical accounting policies, as defined below.
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A critical accounting policy is defined as one that is both material to the presentation of our financial statements and requires management to make difficult, subjective or complex judgments that could have a material effect on our financial condition and results of operations. Specifically, critical accounting estimates have the following attributes: 1) we are required to make assumptions about matters that are highly uncertain at the time of the estimate; and 2) different estimates we could reasonably have used, or changes in the estimate that are reasonably likely to occur, would have a material effect on our financial condition or results of operations.
Estimates and assumptions about future events and their effects cannot be determined with certainty. We base our estimates on historical experience and on various other assumptions believed to be applicable and reasonable under the circumstances. These estimates may change as new events occur, as additional information is obtained and as our operating environment changes. These changes have historically been minor and have been included in the consolidated financial statements as soon as they became known. Based on a critical assessment of our accounting policies and the underlying judgments and uncertainties affecting the application of those policies, management believes that our consolidated financial statements are fairly stated in accordance with accounting principles generally accepted in the United States, and present a meaningful presentation of our financial condition and results of operations. We believe the following critical accounting policies reflect our more significant estimates and assumptions used in the preparation of our consolidated financial statements:
Use of Estimates--These financial statements have been prepared in accordance with accounting principles generally accepted in the United States and, accordingly, require management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Specifically, our management has estimated the expected economic life and value of our licensed technology, our net operating loss for tax purposes and our stock, option and warrant expenses related to compensation to employees and directors, consultants and investment banks. Actual results could differ from those estimates.
Cash and Equivalents--We maintain our cash in bank deposit accounts, which at times, may exceed federally insured limits. We have not experienced any losses in such account.
Revenue Recognition--Our revenue, to date, has been derived from advertising, marketing sponsors and from race purses. Revenue is recognized on an accrual basis as earned under contract terms. In kind sponsorship fees are based upon the value of the product or service that may be provided to us. The fair value of our use of the Calvin garage space and the fair value of the advertising provided to Calvin by the Company was determined by an agreement between the parties that was based upon what each party would be willing to pay or receive for the consideration provided. The garage structure is on residential property with limited amenities, not lending itself to comparison with commercial market comparables. Therefore, the parties estimated value based on an agreed amount that they would be willing to pay or receive.
Intangible and Long-Lived Assets--We follow SFAS No. 144, "Accounting for Impairment of Disposal of Long-Lived Assets," which established a "primary asset" approach to determine the cash flow estimation period for a group of assets and liabilities that represents the unit of accounting for a long lived asset to be held and used. Long-lived assets to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The carrying amount of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. Long-lived assets to be disposed of are reported at the lower of carrying amount or fair value less cost to sell. During the period ended December 31, 2006 no impairment losses were recognized.
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Stock Based Compensation--We recognize expenses for stock-based compensation arrangements in accordance with provisions of Accounting Principles Board (APB) Opinion No. 25, “Accounting for Stock Issued to Employees,” and related Interpretations. Accordingly, compensation cost is recognized for the excess of the estimated fair value of the stock at the grant date over the exercise price, if any. The Company accounts for equity instruments issued to non-employees in accordance with EITF 96-18, “Accounting for Equity Instruments that are Issued to Other Than Employees for Acquiring, or in Conjunction with Selling Goods or Services.” Accordingly, the estimated fair value of the equity instrument is recorded on the earlier of the performance commitment date or the date the services required are completed.
Beginning in 2006, we adopted SFAS No. 123R “Share Based Payment” which superseded APB Opinion No. 25. SFAS No. 123R requires compensation costs related to share-based payment transactions to be recognized in the financial statements. We do not believe the adoption of SFAS No. 123R will have a material impact on our financial statements.
Our common stock is quoted on the Over-The-Counter Bulletin Board and trades under the symbol IMSZ.OB. As of March 31, 2008 there were 12,362,276 shares of our common stock issued and outstanding.
For the Three Months Ended March 31, 2008 Compared to Three Months Ended March 31, 2007
During the three months ended March 31, 2008, we incurred a net loss of $14,665, because we had $5,641 in revenue to offset against operating expenses. The loss in the first quarter was primarily attributable to general and administrative expenses. Total operating expenses decreased approximately $10,511 for the three months ended March 31, 2008 to approximately $14,665 compared to the same period for the three months ended March 31, 2008 which were approximately $25,176. The decrease in the loss for the March quarter of 2007 is primarily due to our change in focus from oval racing to road course racing in the NASCAR and American Stock Car series as well as a decrease in the number of races entered by us compared to the same period in 2007. From inception to March 31, 2008, we had a net loss of $1,038,442.
Additionally, we converted $117,748.68 of unsecured related party debt on our balance sheet to unregistered common stock resulting in the issuance of 3,924,956 shares of common stock.
We have a stockholders' deficit in the amount of $($121,436) at March 31, 2008.
PLAN OF OPERATION
During the March quarter we prepared to enter and qualify for the upcoming NASCAR Nationwide series race in Mexico City which represents our initial presence in the series. This event will provide expansive media as well as international television. Also, we prepared to enter and qualify for the NASCAR Camping World series race in Sonoma, California at Infineon Raceway. In August of 2008, we plan to enter and qualify for the NASCAR Nationwide race in Montreal, Canada.
We will lease race cars for these future races as we have sold all of our current race cars. We intend to lease race cars for $5,000 to $15,000 per race.
LIQUIDITY AND CAPITAL RESOURCES
At March 31, 2008, our cash and cash equivalents were $5,983. Our principal cash requirements are for operating expenses, supplies, capital expenditures and funding of the operations. Our primary sources of cash are revenues, the proceeds award purses from races qualified for and completed.
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The Company continues to see improvement in its operations through the addition of new races to its schedule for in the first quarter of 2008 that will be realized in the June quarter of 2008. We expect to enter at least two events in the upcoming quarter. If events or circumstances occur such that we do not meet our operating plan as expected, we may be required to seek additional capital and/or reduce certain discretionary spending, which could have a material adverse effect on our ability to achieve our business objectives. We may seek additional financing, which may include debt and/or equity financing or funding through third party agreements. There can be no assurance that any additional financing will be available on acceptable terms, if at all. Any equity financing may result in dilution to existing stockholders and any debt financing may include restrictive covenants. We are pursuing a merger and acquisition strategy whereby we are seeking to acquire other businesses. If we acquire other businesses, we may incur additional debt and seek additional
ITEM 3. Controls and Procedures
(a) Evaluation of disclosure controls and procedures. Based on the evaluation of our disclosure controls and procedures (as defined in Securities Exchange Act of 1934 Rules 13a-15(e) and 15d-15(e) required by Securities Exchange Act Rules 13a-15(b) or 15d-15(b), our Chief Executive Officer and Chief Financial Officer have concluded that as of the end of the period covered by this report, our disclosure controls and procedures were effective.
(b) Changes in internal controls. There were no changes in our internal control over financial reporting that occurred during our most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
PART II – OTHER INFORMATION
ITEM 2. Recent Sales of Equity Securities and Use of Proceeds
On March 31, 2008 related parties of the Company converted $117,748.68 of unsecured indebtedness into 3,924,956 unregistered shares of common stock. The issuance of the securities was an exempt transaction pursuant to Section 4(2) of the Securities Act of 1933.
ITEM 6. Exhibits and Reports on Form 8-K
No reports on Form 8-K were filed by IMMS, Inc., during the quarter ended March 31, 2008.
Exhibits
Copies of the following documents are included as exhibits to this report pursuant to Item 601 of Regulation S-B.
Exhibit No. | Description | |
31.1 | Officer’s certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | |
31.2 | Officer’s certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | |
32.1 | Officer’s certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. | |
32.2 | Officer’s certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
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SIGNATURES
In accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
IMMS, INC. | |||
Date: May 9, 2008 | By: | /s/ Kevin P. O’Connell | |
Kevin P. O’Connell President |
IMMS, INC. | |||
Date: May 9, 2008 | By: | /s/ John A. Brunkow | |
John A. Brunkow Chief Financial and Accounting Officer |
EXHIBIT INDEX
(a) The following exhibits are filed with this Form 10-QSB:
Exhibit No. | Description | |
31.1 | Officer’s certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | |
31.2 | Officer’s certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | |
32.1 | Officer’s certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. | |
32.2 | Officer’s certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
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