SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
Amendment No. 1
(X) QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES ACT OF 1934:
For the Quarterly Period ended September 30, 2008
( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE EXCHANGE ACT
For the transition period from __________________ to __________________
WORLDS.COM INC.
(not affiliated with Worldcom, Inc.)
(Exact name of registrant as specified in its charter)
New Jersey 22-1848316
State or other Jurisdiction of I.R.S. Employer ID. No
Incorporation or Organization
11 Royal Road
Brookline, MA 02445
(Address of principal executive offices)
(617) 725-8900
(Registrant telephone number)
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 [X] No [ ]
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.
Large accelerated filer [ ] Accelerated filer [ ]
Non-accelerated filer [ ] Smaller Reporting Company [X]
(Do not check if a smaller reporting company)
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]
As of November 14, 2008, 52,387,749 shares of the Issuer's Common Stock were outstanding.
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION
The discussion contained in this 10-Q under the Securities Exchange Act of 1934, as amended, contains forward-looking statements that involve risks and uncertainties. The issuer's actual results could differ significantly from those discussed herein. These include statements about our expectations, beliefs, intentions or strategies for the future, which we indicate by words or phrases such as "anticipate," "expect," "intend," "plan," "will," "we believe," "the Company believes," "management believes" and similar language, including those set forth in the discussions under "Notes to Consolidated Financial Statements" and "Management's Discussion and Analysis or Plan of Operation" as well as those discussed elsewhere in this Form 10-Q. We base our forward-looking statements on information currently available to us, and we assume no obligation to update them. Statements contained in this Form 10-Q that are not historical facts are forward-looking statements that are subject to the "safe harbor" created by the Private Securities Litigation Reform Act of 1995.
INDEX TO FORM 10-Q | |
Page No. | |
PART I | |
Item 1. Consolidated Financial Statements | 3 |
Item 2. Management's Discussion and Analysis of Financial Condition And Results of Operations | 9 |
Item 3. Quantitative and Qualitative Disclosures on Market Risk | 10 |
Item 4T. Controls and Procedures | 10 |
PART II | |
Item 1. Legal Proceedings | 11 |
Item 1A. Risk Factors | 11 |
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds | 11 |
Item 3. Defaults Upon Senior Securities | 11 |
Item 4. Submission of Matters to a Vote of Security Holders | 11 |
Item 5. Other Information | 11 |
Item 6. Exhibits and Reports on Form 8-K | 11 |
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INDEX TO WORLDS.COM INC. CONSOLIDATED FINANCIAL STATEMENTS
WORLDS.COM INC. PAGE
Consolidated Balance Sheet 4
Consolidated Statement of Operations 5
Consolidated Statement of Cash Flows 6
Notes to Consolidated Financial Statements 7
3
Worlds.com Inc | ||||||||
Balance Sheets | ||||||||
September 30, 2008 and December 31, 2007 | ||||||||
(Restated) | (Restated) | |||||||
Unaudited | Audited | |||||||
30-Sep-08 | 31-Dec-07 | |||||||
Current Assets | ||||||||
Cash and cash equivalents | $ | 110,595 | $ | 271,334 | ||||
Certificate of Deposit | 250,000 | |||||||
Deferred costs | 55,694 | |||||||
Prepaid expenses | 1,476 | 9,860 | ||||||
Total Current Assets | 362,071 | 336,888 | ||||||
Property and equipment, net of | ||||||||
accumulated depreciation | 10,062 | 9,375 | ||||||
TOTAL ASSETS | $ | 372,133 | $ | 346,263 | ||||
Current Liabilities | ||||||||
Accounts payable | $ | 958,875 | $ | 1,069,298 | ||||
Accrued expenses | 1,383,370 | 1,336,179 | ||||||
Deferred Revenue | 631,950 | 631,950 | ||||||
Notes Payable | 773,279 | 773,279 | ||||||
Total Current Liabilities | 3,747,474 | 3,810,706 | ||||||
Stockholders (Deficit) | ||||||||
Common stock (par value $.001, authorized 65,000,000 shares, issued and outstanding 50,642,157 and 44,824,314 at September 30, 2008 and December 31, 2007 respectively) | $ | 50,540 | $ | 44,824 | ||||
Common stock subscribed but not yet issued (1,609,415 and 5,411,764 common shares at September 30, 2008 and December 31, 2007 respectively) | 1,610 | 5,411 | ||||||
Additional Paid in Capital | 21,742,443 | 21,140,760 | ||||||
Accumulated Deficit | (25,169,934 | ) | (24,655,438 | ) | ||||
Total stockholders deficit | (3,375,341 | ) | (3,464,443 | ) | ||||
Total Liabilities and stockholders deficit | $ | 372,133 | $ | 346,263 | ||||
The accompanying notes are an integral part of these financial statements.
4
Worlds.com, Inc. | |||||||||||||||||
Statement of Operations | |||||||||||||||||
Unaudited | |||||||||||||||||
For the three and nine months ended September 30, 2008 and 2007 | |||||||||||||||||
Nine months ended Sept. 30, | Three months ended Sept 30, | ||||||||||||||||
(Restated) | (Restated) | ||||||||||||||||
2008 | 2007 | 2008 | 2007 | ||||||||||||||
Revenues | |||||||||||||||||
Revenue | $ | 92,141 | $ | 3,980 | $ | 266 | $ | 956 | |||||||||
Total | 92,141 | 3,980 | 266 | 956 | |||||||||||||
Cost and Expenses | |||||||||||||||||
Cost of Revenue | 136,209 | 8,519 | 15,889 | ||||||||||||||
Selling, General & Admin. | 393,437 | 9,207 | 175,411 | 2,306 | |||||||||||||
Operating loss | (437,505 | ) | (13,746 | ) | (191,034 | ) | (1,350 | ) | |||||||||
Other Income Expense | |||||||||||||||||
Interest Expense | 56,990 | 115,383 | 18,997 | 38,461 | |||||||||||||
Financing Expense | 20,000 | �� | 20,000 | ||||||||||||||
Net Loss | $ | (514,495 | ) | $ | (129,129 | ) | $ | (230,031 | ) | $ | (39,811 | ) | |||||
The accompanying notes are an integral part of these financial statements.
5
Worlds.com, Inc. | ||||||||
Statement of Cash Flows | ||||||||
For the nine months ended September 30, 2008 and 2007 | ||||||||
(Restated) | ||||||||
30-Sep-08 | 30-Sep-07 | |||||||
Cash flows from operating activities | ||||||||
Net (loss) | $ | (514,495 | ) | $ | (163,936 | ) | ||
Adjustments to reconcile net loss to net cash used | ||||||||
in operating activities | ||||||||
Depreciation | 2,344 | |||||||
Deferred costs | 55,695 | |||||||
Prepaid expenses and other current assets | 8,384 | |||||||
Accounts payable and accrued expenses | (63,234 | ) | 121,383 | |||||
Loan | 7,500 | |||||||
Net cash used in operating activities | (511,306 | ) | (35,053 | ) | ||||
Cash flows from investing activities | ||||||||
Acquisition of property and equipment | (3,031 | ) | ||||||
Net cash used in investing activities | (3,031 | ) | ||||||
Cash flows from financing activities | ||||||||
Proceeds from sale of common stock | 375,000 | |||||||
Conversion of debt to equity | 122,598 | |||||||
Common stock subscribed but not yet issued | 481,000 | |||||||
Net cash provided from financing activities | 603,598 | 375,000 | ||||||
Net (decrease) in cash | 89,261 | 339,947 | ||||||
Cash beginning of period | 271,334 | 2,041 | ||||||
Cash end of period | $ | 360,595 | $ | 341,988 | ||||
Supplemental disclosure of cash flow information: | ||||||||
Cash paid during the period for | ||||||||
Interest | $ | - | $ | - | ||||
Income taxes | $ | - | $ | - |
The accompanying notes are an integral part of these financial statements.
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WORLDS.COM INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
SEPTEMBER 30, 2008 (UNAUDITED)
NOTE 1 – DESCRIPTION OF BUSINESS AND SUMMARY OF ACCOUNTING POLICIES
Description of Business
Worlds.com Inc. (the "Company") designs and develops software content and related technologies for the creation of interactive, three-dimensional ("3D") Internet sites on the World Wide Web. Using in-house technology the Company creates its own Internet sites, as well as sites available through third party on-line service providers.
Basis of Presentation
The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("US GAAP"), which contemplates continuation of the Company as a going concern. The Company has always been considered a developmental stage business, has incurred significant losses since its inception and has not always had significant revenues from operations. The Company will require substantial additional funds for development and marketing of its products. There can be no assurance that the Company will be able to obtain the substantial additional capital resources necessary to pursue its business plan or that any assumptions relating to its business plan will prove to be accurate. The Company has not been able to generate sufficient revenue or obtain additional financing which has had a material adverse effect on the Company, including requiring the Company to severely diminish operations in recent years and at times halting them entirely. These factors raise substantial doubt about the Company's ability to continue as a going concern. The Company has been operating at a significantly reduced capacity in recent years with no full time employees performing primarily consulting services and licensing software using consultants to perform any work that may be required.
Use of Estimates
The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures 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 these estimates.
Cash and Cash Equivalents
Cash and cash equivalents are comprised of highly liquid money market instruments, which have original maturities of three months or less at the time of purchase.
Property and Equipment
Net property and equipment owned by the Company as of September 30, 2008 total $10,062.
Income Recognition
The Company has the following sources of revenue: (1) consulting/licensing revenue from the performance of development work performed on behalf of the Company or from the sale of certain software to third parties; and (2) VIP subscriptions to our Worlds Ultimate 3-D Chat service.
Deferred revenue represents cash payments received in advance to be recorded as licensing revenue as earned.
Income Taxes
The Company uses the liability method of accounting for income taxes in accordance with SFAS No. 109, "Accounting for Income Taxes." Deferred income tax assets and liabilities are recognized based on the temporary differences between the financial statement and income tax bases of assets, liabilities and net operating loss carry forwards using enacted tax rates. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized.
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WORLDS.COM INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
SEPTEMBER 30, 2008 (UNAUDITED)
Notes Payable
The Company had $773,279 in short term notes outstanding at September 30, 2008.
As part of a debt refinancing in 2000, $631,950 of debt was renegotiated to deferred revenue representing future services to be provided by the Company.
Commitments and Contingencies
During 2000 the Company was involved in a lawsuit relating to unpaid consulting services. On March 20, 2001 a judgment against the Company was rendered for approximately $205,000. As of September 30, 2008 the Company recorded a reserve of $205,000 for this lawsuit, which is included in accrued expenses in the accompanying balance sheet.
Impairment of Long Lived Assets
The Company reviews the carrying value of long-lived assets to determine if circumstances exist indicating whether there has been any impairment of the carrying value of property and equipment or whether the depreciation periods should be modified. Long-lived assets are reviewed for impairment whenever events or changes in business circumstances indicate that the carrying value of the assets may not be fully recoverable. The Company as of the date of the financial statements has no long lived assets.
NOTE 2 - GOING CONCERN
From mid-2001 through most of 2007, the Company has had to significantly curtail and at times cease operations due to lack of resources. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. Since its inception, the Company has had periods where it had only minimal revenues from operations. There can be no assurance that the Company will be able to obtain the substantial additional capital resources necessary to pursue its business plan or that any assumptions relating to its business plan will prove to be accurate. The Company is pursuing sources of additional financing and there can be no assurance that any such financing will be available to the Company on commercially reasonable terms, or at all. Any inability to obtain additional financing will likely have a material adverse effect on the Company, including possibly requiring the Company to reduce and/or cease operations.
These factors raise substantial doubt about the ability of the Company to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.
NOTE 3 – DEFEREED REVENUE
Deferred revenue represents advance payments for the license, the design and development of the software, content and related technology for the creation of an interactive, three-dimensional ("3D") entertainment portal on the internet.
NOTE 4 – RESTATEMENT OF FINANCIAL STATEMENTS
On May 11, 2009, our management concluded that our audited financial statements for the years ended December 31, 2007 and 2008 and our unaudited quarterly financial statements for the quarterly periods in such years should no longer be relied upon. Specifically, our liabilities were understated by approximately $1,699,179 on December 31, 2007 and by approximately $2,780,930 on December 31, 2008 (which amount is cumulative and includes the amount understated in 2007) with an overstatement of income on such dates of $1,699,179 and $1,081,750, respectively. The facts underlying our original conclusion is that all of such liabilities have exceeded the applicable statutes of limitations and based upon an opinion of counsel which stated that the likelihood of our having to pay these liabilities was highly improbable, our independent auditor concurred with our decision to write off all of such liabilities. The staff (“Staff”) of the Securities and Exchange Commission, without disagreeing with our position that payment of such liabilities was highly improbable, advised us that under the facts of our situation, it was their conclusion that GAAP accounting required that the liabilities not be written off at this time. Following a series of calls with various Staff members, our management, in consultation with our counsel and independent auditor, agreed to accept the Staff’s position. We have received guidance from the Staff as to the necessary steps we need to take to properly write off these liabilities and we expect to begin that process with certain of the largest creditors. Regardless of whether we are ultimately successful in writing off all or some of these liabilities, we do not believe that these restatements will have any impact on our results of operations or cash flows as the fact remains that the statute of limitations has indeed passed with respect to these liabilities and the likelihood of our having to pay them remains highly improbable.
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ITEM 2. MANGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION
Forward Looking Statements
When used in this form 10-Q and in future filings by the Company with the Commission, the words or phrases such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "will" or similar expressions are intended to identify “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on any such forward looking statements, each of which speak only as of the date made. Such statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical earnings and those presently anticipated or projected. The Company has no obligation to publicly release the result of any revisions which may be made to any forward-looking statements to reflect anticipated or unanticipated events or circumstances occurring after the date of such statements.
These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different. These factors include, but are not limited to, changes that may occur to general economic and business conditions; changes in current pricing levels that we can charge for our services or which we pay to our suppliers and business partners; changes in political, social and economic conditions in the jurisdictions in which we operate; changes to regulations that pertain to our operations; changes in technology that render our technology relatively inferior, obsolete or more expensive compared to others; foreign currency fluctuations; changes in the business prospects of our business partners and customers; increased competition, including from our business partners; delays in the delivery of broadband capacity to the homes and offices of persons who use our services; general disruptions to Internet service; and the loss of customer faith in the Internet as a means of commerce. Additional risk factors pertaining to our business and the value of our stock is contained in our Annual Report on Form 10-K for the year ended December 31, 2007 and is available for review at no charge at www.sec.gov.
The following discussion should be read in conjunction with the financial statements and related notes which are included under Item 1.
We do not undertake to update our forward-looking statements or risk factors to reflect future events or circumstances.
Overview
General
Worlds.com is a leading 3D entertainment portal which leverages its proprietary technology to offer visitors a network of virtual, multi-user environments which we call "worlds". These worlds are visually engaging online environments featuring animation, motion and content where people can come together and, by navigating through the website, shop, interact with others, attend events and be entertained.
Sites using our technology allow numerous simultaneous visitors to enter, navigate and share interactive "worlds". Our 3D Internet sites are designed to promote frequent, repeat and prolonged visitation by users by providing them with unique online communities featuring dynamic graphics, highly useful and entertaining information content, and interactive capabilities. We believe that our sites are highly attractive to advertisers because they offer access to demographic-specific user bases comprised of people that visit the site frequently and stay for relatively long periods of time.
Starting in mid-2001 we were not able to generate enough revenue to sustain full operations and other sources of capital were not available. As a result, we have had to significantly curtail our operations since that time and at times halt them all together.
Revenues
We generated significantly increased revenue during the quarter as we have begun ramping up operations which have been in quasi hibernation since mid-2001. The revenue that was generated was generated in the following manner:
· | VIP subscriptions to our Worlds Ultimate 3-D Chat service; and |
· | Software development to provide and pilot a Demo site for a 3-D world. |
Expenses
We classify our expenses into two broad groups:
o cost of revenues; and
o selling, general and administration.
During the quarter, our operations became more active so our expenses increased.
Liquidity and Capital Resources
We have had to severely diminish our operations from mid-since 2001 until the last half of 2007 due to a lack of liquidity. We were able to issue equity in the last year and raise capital that will help us to be better positioned to compete for new business. We continue to pursue additional sources of capital. We have no current arrangements with respect to, or sources of, additional financing and there can be no assurance that any such financing would become available. If we cannot start to generate sufficient revenues, we may need to halt operations.
RESULTS OF OPERATIONS
Our net revenues for each of the three months ended September 30, 2008 and 2007 were $266 and $956, respectively. Management believes that the revenue was from VIP subscriptions. This decrease and the amount of business from operations are still relatively inconsequential.
Three and nine months ended September 30, 2008 compared to three and nine months ended September 30, 2007
Three months ended September 30, 2008 compared to three months ended September 30, 2007
Revenue decreased by $690, to $266 for the three months ended September 30, 2008 from $956 in the prior year. The business has been running in a severely diminished mode due to the lack of liquidity during the comparable quarter in 2007. We expect increased though not necessarily sufficient operating results until such time that we can raise a sufficient amount of capital to provide the resources required that would enable us to generate sales.
Our cost of revenues during the three months ended September 30, 2008 and 2007 are primarily comprised of (1) cost of goods sold: 8% and 0%, respectively, and (2) selling general and administrative expenses: 92% and 100%, respectively. Cost of sales on a consolidated basis increased $15,889 to $15,889 for the three months ended September 30, 2008, from $0 in the three months ended September 30, 2007, reflecting the increased business activities following the financing in late 2007 and the software development project in 2008.
Selling general and administrative expenses increased by approximately $173,105, from $2,306 to approximately $175,411 for the three months ended September 30, 2007 and 2008, respectively. The balances increased due to our operations increasing thereby resulting in increased payroll, increased contract labor and increased legal and accounting services.
Other expenses for the three months ended September 30, 2008 include interest expense of $18,997 directly attributable to the notes payable and a broker fee of $20,000 related to the financing. Interest expense for the three months ended September 30, 2007 was $28,846.
As a result of the foregoing we had a net (loss) of $(230,031) for the three months ended September 30, 2008 compared to a loss of $39,811 in the three months ended September 30, 2007.
9
Nine months ended September 30, 2008 compared to nine months ended September 30, 2007
Revenue increased by $88,161 to $92,141 for the nine months ended September 30, 2008 from $3,980 in the prior year. The business has been running in a severely diminished mode due to the lack of liquidity during the comparable quarter in 2007. We expect increased though not necessarily sufficient operating results until such time that we can raise a sufficient amount of capital to provide the resources required that would enable us to generate sales.
Our cost of revenues during the nine months ended September 30, 2008 and 2007 are primarily comprised of (1) cost of goods sold: 26% and 48%, respectively, and (2) selling general and administrative expenses: 74% and 52%, respectively. Cost of sales on a consolidated basis increased $127,690 to $136,209 for the nine months ended September 30, 2008, from $8,519 in the nine months ended September 30, 2007, reflecting the increased business activities following the financing in 2007 and the software development project in 2008.
Selling general and administrative expenses increased by approximately $384,230, from $9,207 to approximately $393,437 for the nine months ended September 30, 2007 and 2008, respectively. The balances increased due to our operations increasing thereby resulting in increased payroll, increased contract labor and increased legal and accounting services.
Other expenses for the nine months ended September 30, 2008 include interest expense of $56,990 directly attributable to the notes payable and a $20,000 broker fee. Interest expense for the nine months ended September 30, 2007 was $86,537,
As a result of the foregoing we had a net (loss) of $(514,495) for the nine months ended September 30, 2008 compared to a loss of $129,129 in the nine months ended September 30, 2007 although as disclosed above the gain resulted from non-operational bookkeeping entries from the extinguishment of debt.
Our financial and liquidity position improved as exhibited by our cash and cash equivalents of $360,595 at September 30, 2008. At September 30, 2007, cash and cash equivalents was $341,988. This increase of $18,607 was the result of another equity financing in the second half of 2008. There were capital expenditures of $3,031 in the nine months ended September 30, 2008 compared to $0 for 2007.
Historically, our primary cash requirements have been to fund the cost of operations, development of our products and patent protection, with additional funds having been used in promotion and advertising and in connection with the exploration of new business lines.
We have had to severely diminish our operations due to a lack of liquidity from mid-2001 through most of 2007. We were able to find a small source of additional capital in 2007. We have no current arrangements with respect to additional financing and there can be no assurance that any such financing would become available. The additional capital that we did secure enabled us to bid on new business. There can be no assurance that any such new business would be sold in the future.
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
The information to be reported under this item is not required of smaller reporting companies.
ITEM 4T. CONTROLS AND PROCEDURES.
As of September 30, 2008, we carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended). Based upon that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective as of September 30, 2008.
Changes in Internal Control Over Financial Reporting
During the 2008 third quarter, there were no changes in our internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934, as amended) that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
10
Item 1. Legal Proceedings.
In Graubard Miller f/k/a Graubard Mollen Miller v. Worlds Inc. (our former name) in the United States District Court, Southern District of New York, the court granted summary judgment against us in the aggregate amount of $182,075.24 for unpaid legal fees and expenses and an unpaid note. $122,598 was reserved on our balance sheet for this judgement. However we settled this judgement in the first quarter of 2008 through the issuance of 400,000 shares of common stock.
Item 1A. Risk Factors
Limited information regarding our risk factors appears in Part I, Item 2. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” under the caption “Forward-Looking Statements” contained in this Quarterly Report on Form 10-Q and in “Item 1A. RISK FACTORS” of our 2007 Annual Report on Form 10-K. There have been no material changes from the risk factors previously disclosed in our 2007 Annual Report on Form 10-K.
Item 2. Unregistered Sales of equity Securities and Use of Proceeds
On December 31, 2007, the Company had 5,411,764 shares of common stock that were subscribed but not yet issued. The Company issued those shares of common stock during 2008. Also during the quarter, the Company settled it’s lawsuit with Graubard Miller f/k/a Graubard Mollen Miller. The settlement was for 400,000 shares of stock.
Item 3. Defaults Upon Senior Securities
None.
Item 4. Submission of Matters to a Vote of Security Holders.
None.
Item 5. Other Information
None.
Item 6. Exhibits and Reports on Form 8-K
31.1 CEO Certification Pursuant to Section 302
31.2 CFO Certification Pursuant to Section 302 (included in Exhibit 31.1)
32.1 CEO Certification Pursuant to Section 906
32.2 CFO Certification Pursuant to Section 906 (included in Exhibit 32.1)
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In accordance with the requirements of the Exchange Act, the Registrant caused this Report to be signed on its behalf by the undersigned thereto duly authorized.
Date: October 1, 2009
WORLDS.COM INC.
/s/ Thomas Kidrin By: Thomas Kidrin President, CEO and Treasurer /s/ Christopher Ryan By: Christopher Ryan Chief Financial Officer and Principal Accounting Officer |
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INDEX TO EXHIBITS
Exhibit No. | Description | |
31.1 | ||
31.2 | ||
32.1 | ||
32.2 |