The accompanying notes are an integral part of the financial statements.
NOTE TO CONDENSED FINANCIAL STATEMENTS
Note 1. Interim Financial Statements
The accompanying condensed financial statements are unaudited, but in the opinion of the management of the Company, contain all adjustments, consisting of only normal recurring accruals, necessary to present fairly the financial position at September 30, 2012 and the results of operations for the quarters ended September 30, 2012 and 2011 and changes in cash flows for the quarters ended September 30, 2012 and 2011. Certain information and footnote disclosures normally included in financial statements that have been prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission, although management of the Company believes that the disclosures contained in these financial statements are adequate to make the information presented therein not misleading. For further information, refer to the financial statements and footnotes thereto included in the Company's Annual Report in Form 10-K as of June 30, 2012, as filed with the Securities and Exchange Commission. The results of operations for the quarter ended September 30, 2012 are not necessarily indicative of the results of operations to be expected for the full fiscal year ending June 30, 2013.
Note 2. Changes in Significant Accounting Policies
There are no newly issued accounting pronouncements that the Company expects to have a material effect on the financial statements and there have been no changes in our significant accounting policies.
Note 3 Due from affiliate
In prior years, the Company made advances to Acculogic, Inc., an affiliated company through common ownership and management. The advances bear interest at 8.5% per annum, payable on demand. The balance including interest is guaranteed by another affiliated company. During the quarter ending September 30, 2012 the Company received $15,000 on the receivable from Acculogic, Inc.
| Item 2. | Management's Discussion and Analysis of Financial Condition and Results of Operations |
The Company is at present dormant and is looking for new opportunity.
The cash needs of the Company will be funded by collections from amount due from its affiliate.
| Item 3 | Quantitative and Qualitative Disclosures about Market Risk |
N/A
Our management, comprising the Chief Executive Officer and Chief Financial Officer/Principal Accounting Officer, is responsible for establishing and maintaining disclosure controls and procedures for the Company. It has designed such disclosure controls and procedures to ensure that material information is made known to it, particularly during the period in which this report was prepared.
As of the end of the period covered by this report, our management carried out an evaluation 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 (or Exchange Act)). Based on this evaluation, as of the end of the period covered by this report, our management has concluded that our disclosure controls and procedures are effective considering the fact that the Company is dormant.
Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Exchange Act Rule 13a-15(f). Our management conducted an evaluation of the effectiveness of our internal control over financial reporting as of September 30, 2012 based on the criteria set forth in Internal Control - Integrated Framework issued by the Committee of Sponsoring Organization of the Treadway Commission. Based on this evaluation, our management concluded that our internal control over financial reporting was effective as of September 30, 2012 considering the fact that the Company is dormant.
Our independent auditors have not audited and are not required to audit this assessment of our internal control over financial reporting for the period covered by this report.
During our most recent fiscal quarter, there has not occurred any change in our internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.
PART II. OTHER INFORMATION
None
None
| Item 2. | Unregistered Sale of Equity Securities and Use of Proceeds. |
| Defaults upon Senior Securities. |
None
| Item 4. | Submission of Matters to a Vote of Security Holders. |
None.
| Item 5. | Other Information. |
None
| | a. | 31.1 Certification of the Company's Chief Executive Officer, Sun Tze Whang, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
| | b. | 31.2 Certification of the Company's Chief Financial Officer/Principal Accounting Officer, Kit H. Tan, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
| | c. | 32 Certification of the Company's Chief Executive Officer and Chief Financial Officer/Principal Accounting Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
| | d. | 101.INS | XBRL Instance Document |
| | e. | 101.SCH | XBRL Taxonomy Extension Schema Document |
| | f. | 101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document |
| | g. | 101.LAB | XBRL Taxonomy Extension Label Linkbase Document |
| | h. | 101.PRE | XBRL Taxonomy Extension Presentation Linkbase Document |
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| | INTERDYNE COMPANY |
| | (Registrant) |
| | |
| Date : October 31, 2012 | By : /s/Sun Tze Whang |
| | Sun Tze Whang |
| | Director /Chief Executive Officer |
| | |
| | By : /s/Kit H. Tan |
| | Kit H. Tan |
| | Director /Chief Financial Officer/Principal Accounting Officer |
