UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
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(Mark One) |
[X] | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
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For the quarterly period ended: September 30, 2013 |
Or |
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[ ] | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
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For the transition period from ____________ to _____________ |
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Commission File Number: 333-176798 |
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HORIZON MINERALS CORP |
(Exact name of registrant as specified in its charter) |
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Delaware | 41-2281448 |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
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9101 West Sahara Avenue Suite 105 - 197 Las Vegas, Nevada 89117 (Address of principal executive offices) |
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(587) 984-2321 |
(Registrant's telephone number, including area code) |
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(Former name, former address and former fiscal year, if changed since last report) |
Indicate by check mark whether the issuer (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 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 [ ]
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [ ] No [X]
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.:
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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 [X] No [ ]
Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date:
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Common Stock, $0.0001 par value | 66,000,000 shares |
(Class) | (Outstanding as at November 14, 2013) |
HORIZON MINERALS CORP
Table of Contents
2
PART I - FINANCIAL INFORMATION
Item 1. Unaudited Financial Statements
The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles for interim financial reporting and pursuant to the rules and regulations of the Securities and Exchange Commission ("Commission"). While these statements reflect all normal recurring adjustments which are, in the opinion of management, necessary for fair presentation of the results of the interim period, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. For further information, refer to the financial statements and footnotes thereto, which are included in the Company's Annual Report on Form 10-K, previously filed with the Commission on April 15, 2013.
3
HORIZON MINERALS CORP.
(A DEVELOPMENT STAGE COMPANY)
BALANCE SHEETS
| | | | | | | | |
| | September 30, | | December 31, |
| | 2013 | | 2012 |
Assets | | (Unaudited) | | |
| | | | | | |
Current assets: | | | | | | |
| Cash and cash equivalents | | $ | - | | $ | - |
| | Total current assets | | | - | | | - |
| | | | | | |
Total Assets | | $ | - | | $ | - |
| | | | | | |
Liabilities and Stockholders' (Deficit) | | | | | | |
| | | | | | |
Current liabilities: | | | | | | |
| Accounts payable and accrued liabilities | | $ | 6,981 | | $ | 4,800 |
| | Total current liabilities | | | 6,981 | | | 4,800 |
| | | | | | |
Total liabilities | | | 6,981 | | | 4,800 |
| | | | | | |
Commitments and Contingencies | | | | | | |
| | | | | | |
Stockholders' (deficit) | | | | | | |
| Common stock, par value $0.0001 per share, 200,000,000 shares | | | | | | |
| | authorized, 66,000,000 shares issued and outstanding | | | | | | |
| | as of September 30, 2013 and December 31, 2012 | | | 6,600 | | | 6,600 |
| Additional paid-in capital | | | 79,330 | | | 65,000 |
| Deficit accumulated during development stage | | | (92,911) | | | (76,400) |
Total stockholders' deficit | | | (6,981) | | | (4,800) |
| | | | | | |
Total Liabilities and Stockholders' Deficit | | $ | - | | $ | - |
* Restated for forward stock split. See note 4
The accompanying notes are an integral part of these interim financial statements.
F-1
HORIZON MINERALS CORP.
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF OPERATIONS
(Unaudited)
| | | | | | | | | | | | | | | | |
| | | | | Inception |
| For the three months ended | | For the nine months ended | | (May 11, 2011) |
| September 30, | | September 30, | | through |
| 2013 | | 2012 | | 2013 | | 2012 | | September 30, 2013 |
| | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Revenue | $ | - | | $ | - | | $ | - | | $ | - | | $ | - |
| | | | | | | | | | | | | | |
Expenses: | | | | | | | | | | | | | | |
| Filing fees | | 1,000 | | | - | | | 1,700 | | | - | | | 4,886 |
| General and administrative | | 199 | | | 10,495 | | | 3,181 | | | 11,489 | | | 4,669 |
| Patent | | - | | | - | | | - | | | - | | | 15,000 |
| Professional fees | | 5,380 | | | 4,000 | | | 11,630 | | | 13,100 | | | 64,860 |
| | Total expenses | | 6,579 | | | 14,495 | | | 16,511 | | | 24,589 | | | 89,415 |
| | | | | | | | | | | | | | |
(Loss) from Operations | | (6,579) | | | (14,495) | | | (16,511) | | | (24,589) | | | (89,415) |
| | | | | | | | | | | | | | |
Other Income (Expense) | | | | | | | | | | | | | | |
| Foreign currency transaction loss | | - | | | - | | | - | | | (195) | | | (195) |
| | Total other income (expense) | | - | | | - | | | - | | | (195) | | | (195) |
| | | | | | | | | | | | | | |
Provision for income taxes | | - | | | - | | | - | | | - | | | - |
| | | | | | | | | | | | | | |
Net (Loss) | $ | (6,579) | | $ | (14,495) | | $ | (16,511) | | $ | (24,784) | | $ | (89,610) |
| | | | | | | | | | | | | | |
(Loss) Per Common Share: | | | | | | | | | | | | | | |
(Loss) per common share - Basic and Diluted | $ | (0.00) | | $ | (0.00) | | $ | (0.00) | | $ | (0.00) | | | |
| | | | | | | | | | | | | | |
Weighted Average Number of Common Shares | | | | | | | | | | | | | | |
| Outstanding - Basic and Diluted | | 66,000,000 | | | 66,000,000 | * | | 66,000,000 | | | 49,029,192 | * | | |
* Restated for forward stock split. See note 4
The accompanying notes are an integral part of these interim financial statements.
F-2
HORIZON MINERALS CORP.
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF CASH FLOWS
(Unaudited)
| | | | | | | | | |
| | | Inception |
| For the nine months ended | | (May 11, 2011) |
| September 30, | | through |
| 2013 | | 2012 | | September 30, 2013 |
Operating activities | | | | | | | | |
Net loss | $ | (16,511) | | $ | (24,784) | | $ | (89,610) |
Changes in net assets and liabilities: | | | | | | | | |
| Deferred offering costs | | - | | | 20,000 | | | - |
| Accounts payable and accrued liabilities | | 2,181 | | | (29,386) | | | 6,981 |
Net cash used in operating activities | | (14,330) | | | (34,170) | | | (82,629) |
| | | | | | | | |
Financing activities | | | | | | | | |
| Donated capital | | 14,330 | | | - | | | 27,329 |
| Proceeds from stock issuance | | - | | | 55,000 | | | 55,300 |
| Proceeds from related party loans | | - | | | 19,246 | | | 40,376 |
| Repayments of related party loans | | - | | | (40,376) | | | (40,376) |
Net cash provided by financing activities | | 14,330 | | | 33,870 | | | 82,629 |
| | | | | | | | |
Net decrease in cash | | - | | | (300) | | | - |
Cash - beginning | | - | | | 300 | | | - |
Cash - ending | $ | - | | $ | - | | $ | - |
| | | | | | | | |
Supplemental disclosures: | | | | | | | | |
| Interest paid | $ | - | | $ | - | | $ | - |
| Income taxes paid | $ | - | | $ | - | | $ | - |
The accompanying notes are an integral part of these interim financial statements.
F-3
HORIZON MINERALS CORP.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS
NOTE 1 - HISTORY AND ORGANIZATION
Horizon Minerals Corp. (the “Company”) is a Delaware corporation in the development stage and has not commenced operations. The Company was incorporated under the laws of the State of Delaware on May 11, 2011, with the intent to develop an anti-theft vehicle ignition system, for which the Company acquired certain patents and other intellectual property. On March 25, 2013, the Company amended its articles of incorporation to change its name from Safe Dynamics Corp. to Horizon Minerals Corp., with the intent to enter the gold and mineral mining industry.
On March 25, 2013, the Company effected a 12-for-1 forward stock split for each share of Common Stock outstanding immediately prior to March 25, 2013 (the “Forward Stock Split”). The par value of the Common Stock remained $0.0001 per share. This conversion was applied to all shares of Common Stock. No fractional shares of Common Stock were issued upon the Forward Stock Split. All share and per share values for all periods presented in the accompanying financial statements are retroactively restated for the effect of the forward split.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation
The interim financial statements included herein, have been prepared in accordance with United States generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. All amounts are expressed in US dollars, unless otherwise indicated.
These interim financial statements reflect all adjustments, consisting of normal recurring adjustments, which in the opinion of management, are necessary for fair presentation of the information contained therein. It is suggested that these condensed interim financial statements be read in conjunction with the audited financial statements of the Company for the period ended December 31, 2012. The Company follows the same accounting policies in the preparation of interim reports.
Results of operations for the interim period are not indicative of annual results.
Use of estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the 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 revenue and expenses during the reporting period. Actual results could differ significantly from those estimates.
Cash and cash equivalents
For the purpose of the statements of cash flows, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents. The carrying value of these investments approximates fair value.
Revenue recognition
The Company is in the development stage and has yet to realize revenues from operations. Once the Company has commenced operations, it will recognize revenues when delivery of goods or completion of services has occurred provided there is persuasive evidence of an agreement, acceptance has been approved by its customers, the fee is fixed or determinable based on the completion of stated terms and conditions, and collection of any related receivable is probable.
F-4
HORIZON MINERALS CORP.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Fair value of financial instruments
The carrying amounts reflected in the balance sheets for cash, accounts payable and accrued expenses approximate the respective fair values due to the short maturities of these items. The Company does not hold any investments that are available-for-sale.
As required by the Fair Value Measurements and Disclosures Topic of the FASB ASC, fair value is measured based on a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: (Level 1) observable inputs such as quoted prices in active markets; (Level 2) inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and (Level 3) unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.
The three levels of the fair value hierarchy are described below:
Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;
Level 2: Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability;
Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).
General and administrative expenses
The significant components of general and administrative expenses are consulting, corporate communication and transfer agent fees.
Loss per share
Net loss per share is provided in accordance with FASB ASC 260-10, “Earnings per Share”. Basic loss per share is computed by dividing losses available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. The Company had no dilutive common stock equivalents, such as stock options or warrants as of September 30, 2013 and 2012.
Dividends
The Company has not yet adopted any policy regarding payment of dividends. No dividends have been paid or declared since inception.
Contingencies
The Company is not currently a party to any pending or threatened legal proceedings. Based on information currently available, management is not aware of any matters that would have a material adverse effect on the Company’s financial condition, results of operations or cash flows.
Recent pronouncements
The Company evaluated all recent accounting pronouncements issued and determined that the adoption of these pronouncements would not have a material effect on the financial position, results of operations or cash flows of the Company.
F-5
HORIZON MINERALS CORP.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS
NOTE 3 - GOING CONCERN
The accompanying financial statements have been prepared assuming the Company will continue as a going concern. As of September 30, 2013, the Company has not achieved profitable operations and has accumulated a deficit of $92,911. Continuation as a going concern is dependent upon the ability of the Company to obtain the necessary financing to meet obligations and pay its liabilities arising from normal business operations when they come due and ultimately upon its ability to achieve profitable operations. The outcome of these matters cannot be predicted with any certainty at this time and raises substantial doubt that the Company will be able to continue as a going concern. These financial statements do not include any adjustments to the amounts and classification of assets and liabilities that may be necessary should the Company be unable to continue as a going concern. Management intends to obtain additional funding by borrowing funds from its directors and officers, issuing promissory notes and/or a private placement of common stock.
NOTE 4 - STOCKHOLDERS’ EQUITY
On March 25, 2013, the Company effected a 12-for-1 forward stock split for each share of Common Stock outstanding immediately prior to March 25, 2013 (the “Forward Stock Split”) without affecting the par value of the Common Stock, which remained $0.0001 per share. This conversion applied to all shares of Common Stock and no fractional shares of Common Stock were issued upon the Forward Stock Split.
Aside from the above Forward Stock Split, the Company did not have any other equity transactions during the nine months ended September 30, 2013.
NOTE 5 - DONATED SERVICES
During the nine months ended September 30, 2013, the Company incurred the following fees with various vendors, which were paid on behalf of the Company by an unrelated party without requirement for the payments to be reimbursed. These payments were recorded as donated capital.
| |
| Amount |
Transfer agent fees | $ 2,348 |
Accounting and audit fees | 9,500 |
Filing fees | 1,000 |
Legal fees | 1,482 |
Total donated capital | $ 14,330 |
F-6
Item 2. Management's Discussion and Analysis of Financial Condition and Plan of Operation
Forward-Looking Statements
This Quarterly Report contains forward-looking statements about our business, financial condition and prospects that reflect management’s assumptions and beliefs based on information currently available. We can give no assurance that the expectations indicated by such forward-looking statements will be realized. If any of our management’s assumptions should prove incorrect, or if any of the risks and uncertainties underlying such expectations should materialize, our actual results may differ materially from those indicated by the forward-looking statements.
The key factors that are not within our control and that may have a direct bearing on operating results include, but are not limited to, acceptance of our services, our ability to expand our customer base, managements’ ability to raise capital in the future, the retention of key employees and changes in the regulation of our industry.
There may be other risks and circumstances that management may be unable to predict. When used in this Quarterly Report, words such as, "believes," "expects," "intends," "plans," "anticipates," "estimates" and similar expressions are intended to identify forward-looking statements, although there may be certain forward-looking statements not accompanied by such expressions.
Corporate Background
We were incorporated in Delaware on May 11, 2011 and we are a development stage company. On June 13, 2011, we acquired certain patents and intellectual property related to an anti-theft vehicle ignition system.
On October 19, 2012, Mr. Claudio Ferrer acquired an aggregate of 36,000,000 shares of our common stock from our two founders, Yitzchak Socolovsky and Akiva Shonfeld, in private transactions not involving the company. As a result of this transaction, Mr. Ferrer became our majority shareholder. In connection with the change of control, we accepted the resignations of both Messrs. Socolovsky and Shonfeld and appointed Mr. Ferrer as sole officer and director.
On March 25, 2013, Mr. Yan Ming Lui acquired an aggregate of 36,000,000 shares of our common stock from Mr. Ferrer in a private transaction not involving the issuer. As a result of this transaction, Mr. Lui became our majority shareholder. Also on March 25, 2013, our Board of Directors appointed Yan Ming Lui as a Director to fill a vacancy on the board. We then accepted the resignation of Mr. Ferrer from the offices of President, Secretary and Director. Mr. Ferrer continues to serve as our Corporate Treasurer. Mr. Lui was then appointed to fill the vacancies in the offices of President and Secretary.
Mr. Lui determined it was in the best interest of the company to effect a change in the direction of the business, as there were effectively no material operations since our incorporation. As a result, the Company is seeking to enter the gold and mineral mining industry.
On March 25, 2013, we amended our articles of incorporation to change our name from Safe Dynamics Corp to Horizon Minerals Corp.
On March 25, 2013, the Company effected a 12-for-1 forward stock split for each share of Common Stock outstanding immediately prior to March 25, 2013 (the “Forward Stock Split”). The par value of the Common Stock remained $0.0001 per share. This conversion was applied to all shares of Common Stock. No fractional shares of Common Stock were issued upon the Forward Stock Split.
On September 19, 2013, Mr. Yan Ming Lui resigned as the President, Secretary and Director of the Company, the Company appointed Robert Fedun as the President, Secretary and a Director of the Company.
5
Results of Operations
Summary of Financial Condition
Table 1 summarizes and compares our financial condition at the nine months ended September 30, 2013, to the year-ended December 31, 2012.
Table 1: Comparison of financial condition
| | |
| September 30, 2013 | December 31, 2012 |
Working capital deficit | $(6,981) | $(4,800) |
Current assets | $ - | $ - |
Total liabilities | $ 6,981 | $ 4,800 |
Common stock and additional paid in capital | $85,930 | $71,600 |
Deficit | $92,911 | $76,400 |
Selected Financial Results
Three and Nine Months Ended September 30, 2013 and September 30, 2012
| | | | | | |
| Three Months Ended September 30, | Percentage Increase / (Decrease) | Nine Months Ended September 30, | Percentage Increase / (Decrease) |
2013 | 2012 | 2013 | 2012 |
Operating expenses: | | | | | | |
Filing fees | $ 1,000 | $ - | n/a | $ 1,700 | $ - | n/a |
General and administrative | 199 | 10,495 | (98.1)% | 3,181 | 11,489 | (72.3)% |
Professional fees | 5,380 | 4,000 | 34.5% | 11,630 | 13,100 | (11.2)% |
Net loss from operations | 6,579 | 14,495 | (54.61)% | 16,511 | 24,589 | (32.9)% |
Foreign exchange | - | - | n/a | - | (195) | n/a |
Net loss | $6,579 | $ 14,495 | (54.61)% | $ 16,511 | $24,784 | (33.4)% |
Revenues
We have not generated any revenues since our inception on May 11, 2011 and there can be no assurance that we will be able to generate or grow revenues in future periods.
Expenses
During the three months ended September 30, 2013, our expenses decreased by $7,916 or 54.61% from $14,495 for the three months ended September 30, 2012 to $6,759 for the three months ended September 30, 2013. The decrease was primarily caused by $10,000 in consulting fees charged to the Company during the three months ended September 30, 2012.
During the nine months ended September 30, 2013, our expenses decreased by $8,273 or 33.4% from $24,784 for the nine months ended September 30, 2012 to $16,511 for the nine months ended September 30, 2013. The decrease was primarily caused by $10,000 in consulting fees charged to the Company during the nine months ended September 30, 2012 and higher audit and review costs during the same period.
Since our inception on May 11, 2011 through September 30, 2013, we accumulated $89,610 in losses from operations. We anticipate incurring ongoing operating losses and cannot predict when, if at all, we may expect these losses to plateau or narrow.
6
Liquidity and Capital Resources
Cash Flows
| | |
| Nine Months Ended September 30, 2013 | Nine Months Ended September 30, 2012 |
Cash used in operating activities | $ (14,330) | $ (34,170) |
Cash provided by financing activities | 14,330 | 33,870 |
Net decrease in cash during period | $ - | $ (300) |
During the nine months ended September 30, 2013, we used $14,330 in cash for operating expenses which were offset by $14,330 received from financing activities in the form of capital donated by unrelated parties; these funds are not expected to be repaid.
In the comparable period ended September 30, 2012, we used $34,170 in operating activities which were funded by $74,246 received from financing activities. Of the total $74,246, $19,246 were received in loans from related parties and $55,000 from the sales of our common stock. During the same period, we repaid $40,376 in loans to related and unrelated parties.
As of September 30, 2013, we had $0 in cash and did not have any other cash equivalents, which is not adequate to maintain our operations for at least the next 12 months. We are actively attempting to raise additional capital by conducting additional issuances of our equity and debt securities for cash. The sale of additional equity securities will result in dilution to our stockholders. The incurrence of indebtedness will result in increased debt service obligations and could require us to agree to operating and financial covenants that could restrict our operations or modify our plans to grow the business. Financing may not be available in amounts or on terms acceptable to us, if at all. Any failure by us to raise additional funds on terms favorable to us, or at all, will limit our ability to expand our business operations and could harm our overall business prospects. We cannot assure you that any financing can be obtained or, if obtained, that it will be on reasonable terms. As such, our principal accountants have expressed doubt about our ability to continue as a going concern because we have limited operations and have not fully commenced planned principal operations.
Off-Balance Sheet Arrangements
We do not have any off-balance sheet arrangements.
Plant and Equipment
We currently do not own any significant plant or equipment that we would seek to sell in the near future.
Related Party Transactions
During the nine months ended September 30, 2012 we borrowed $19,246 from related parties and repaid $40,376 to related parties. We did not have any transactions with related parties during the nine months period ended September 30, 2013.
We have not paid for expenses on behalf of any of our directors. Our officers and directors work for us on a part-time basis, and are prepared to devote additional time, as necessary.
7
Going Concern Consideration
Our auditors have issued an opinion on our annual financial statements which includes a statement describing our going concern status. This means that there is substantial doubt that we can continue as an on-going business for the next twelve months unless we obtain additional capital to pay our bills and meet our other financial obligations. This is because we have not generated any revenues and no revenues are anticipated in the near future. Accordingly, we must raise capital from sources other than the actual sale of the product. We must raise capital to implement our project and stay in business.
Item 3. Quantitative and Qualitative Disclosure About Market Risks
This item is not applicable as we are currently considered a smaller reporting company.
Item 4. Controls and Procedures
Evaluation of Disclosure Controls and Procedures
Our Principal Executive Officer and Principal Financial Officer evaluated the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act) as of the period covered by this Report. Based on that evaluation, it was concluded that our disclosure controls and procedures are effective to provide reasonable assurance that information we are required to disclose in the reports that we file or submit under the 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 principal executive and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure
Changes in internal controls over financial reporting
There were no changes in our internal controls over financial reporting that occurred during the period covered by this report, which has materially affected, or is reasonably likely to materially affect, our internal controls over financial reporting.
Limitations on Effectiveness of Controls and Procedures
In designing and evaluating the disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives. In addition, the design of disclosure controls and procedures must reflect the fact that there are resource constraints and that management is required to apply its judgment in evaluating the benefits of possible controls and procedures relative to their costs.
8
PART II - OTHER INFORMATION
Item 1. Legal Proceedings
We are not a party to any material legal proceedings.
Item 1A. Risk Factors
Our significant business risks are described in our registration statement on Form S-1, to which reference is made herein.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
We did not have any unregistered sales of equity securities during the quarter ended September 30, 2013.
Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine Safety Disclosures
Not applicable.
Item 5. Other Information
None.
Item 6. Exhibits and Reports on Form 8-K
| |
| |
Exhibit Number | Name and/or Identification of Exhibit |
| |
3 | Articles of Incorporation & By-Laws |
| |
| (a) Articles of Incorporation (1) |
| (b) By-Laws (1) |
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31 | Rule 13a-14(a)/15d-14(a) Certification |
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32 | Certification under Section 906 of the Sarbanes-Oxley Act (18 U.S.C. Section 1350) |
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101 | Interactive Data File |
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| (INS) XBRL Instance Document |
| (SCH) XBRL Taxonomy Extension Schema Document |
| (CAL) XBRL Taxonomy Extension Calculation Linkbase Document |
| (DEF) XBRL Taxonomy Extension Definition Linkbase Document |
| (LAB) XBRL Taxonomy Extension Label Linkbase Document |
| (PRE) XBRL Taxonomy Extension Presentation Linkbase Document |
(1) Incorporated by reference to the Registration Statement on Form S-1, previously filed with the SEC on December 14, 2011.
9
SIGNATURES
Pursuant to the requirements of the Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| | |
HORIZON MINERALS CORP |
(Registrant) |
|
Signature | Title | Date |
| | |
/s/ Robert Fedun Robert Fedun | (Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer) | November 14, 2013 |
10
