UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
-----------------
FORM 10Q/ A #1
-----------------
(Mark One)
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
For the quarterly period ended October 31, 2009
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT
For the transition period from __________ to ___________
Commission file number: 000-27211
MEDINA INTERNATIONAL HOLDINGS, INC.
-------------------------------------------------------
(Exact name of registrant as specified in its charter)
COLORADO 84-1469319
---------------------------------- --------------------
(State of Incorporation) (IRS Employer ID Number)
No. 2051 Placentia Ave., Costa Mesa, CA 92627
-----------------------------------------------
(Address of principal executive offices)
909-522-4414
--------------------------
(Registrant's 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 past 12 months (or for such shorter period that the registrant was required
to file such reports), and (2) has been subject to the 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 for Regulation S-T (ss.232.405
of this chapter) during the preceding 12 months (or for such shorter period that
the registrant was required to submit and post such files). Yes [ ] No [ ]
Indicate by check mark whether the registrant is a large accelerated file, 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.
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 [ ] No [ X]
Indicate the number of share outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.
As of November 20, 2009, there were 46,676,341 shares of the registrant's common
stock issued and outstanding.
Explanatory Note
Medina International Holdings, Inc. (the Company) is filing this Amendment
No. 1 to its Quarterly Report on Form 10-QA for the quarter ended October 31,
2009, filed with the Securities and Exchange Commission on December 17, 2009,
where in there was an inadvertent mistake of statement on internal control over
financial control as effective, for the sole purpose of amending Item 4. Due to
the fact that the Company is a smaller reporting company and its management is
still in the process of improving the internal controls over financial reporting
and as such has determined that as of the time of filing is not effective and
such disclosure has been corrected in this report.
ITEM 4T. CONTROLS AND PROCEDURES
Management's Quarterly Report on Internal Control over Financial Reporting.
Our management is responsible for establishing and maintaining adequate internal
control over financial reporting for the company in accordance with as defined
in Rules 13a-15(f) and 15d-15(f) under the Exchange Act. Our management
conducted an evaluation of the effectiveness of our internal control over
financial reporting based on the framework in Internal Control - Integrated
Framework issued by the Committee of Sponsoring Organizations of the Treadway
Commission. Our internal control over financial reporting is designed to provide
reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with
generally accepted accounting principles. Our internal control over financial
reporting includes those policies and procedures that:
(i) pertain to the maintenance of records that, in reasonable detail,
accurately and fairly reflect the transactions and dispositions of our
assets;
(ii) provide reasonable assurance that transactions are recorded as necessary to
permit preparation of financial statements in accordance with generally
accepted accounting principles, and that our receipts and expenditures are
being made only in accordance with authorizations of our management and
directors; and
(iii)provide reasonable assurance regarding prevention or timely detection of
unauthorized acquisition, use or disposition of our assets that could have
a material effect on our financial statements. Internal control over
financial reporting cannot provide absolute assurance of achieving
financial reporting objectives because of its inherent limitations,
including the possibility of human error and circumvention by collusion or
overriding of controls. Accordingly, even an effective internal control
system may not prevent or detect material misstatements on a timely basis.
Also, projections of any evaluation of effectiveness to future periods are
subject to the risk that controls may become inadequate because of changes
in conditions or that the degree of compliance with the policies or
procedures may deteriorate. Management's assessment of the effectiveness of
the small business issuer's internal control over financial reporting is as
of the quarter ended October 31, 2009. We believe that internal control
over financial reporting is not effective because of the small size of the
business. We have not identified any, current material weaknesses
considering the nature and extent of our current operations and any risks
or errors in financial reporting under current operations.
Because of its inherent limitations, internal control over financial reporting
may not prevent or detect misstatements. Also, projections of any evaluation of
effectiveness to future periods are subject to the risk that controls may become
inadequate because of changes in conditions, or that the degree of compliance
with the policies or procedures may deteriorate. This quarterly report does not
include an attestation report of the Company's registered public accounting firm
regarding internal control over financial reporting. Management's report was not
subject to attestation by the Company's registered public accounting firm
pursuant to temporary rules of the Securities and Exchange Commission that
permit the Company to provide only management's report in this annual report.
There was no change in our internal control over financial reporting that
occurred during the fiscal quarter ended October 31, 2009, that has materially
affected, or is reasonably likely to materially affect, our internal control
over financial reporting.
SIGNATURES
Pursuant to the requirements of Section 12 of the Securities and Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
MEDINA INTERNATIONAL
HOLDINGS, INC.
(Registrant)
Dated: April 5, 2010 By: /s/ Daniel Medina
-----------------------------------------
Daniel Medina,
President
Dated: April 5, 2010 By: /s/ Madhava Rao Mankal
------------------------------------------
Madhava Rao Mankal,
Chief Financial Officer