================================================================================
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-QSB
|X| QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2005
OR
|_| TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Commission File Number
333-114622
SRKP 1, Inc.
(Exact name of small business issuer as specified in its charter)
Delaware 51-05021250
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
1900 Avenue of the Stars, Suite 310
Los Angeles, CA 90067
(Address of principal executive offices) (Zip Code)
(310) 203-2902
(Registrant'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 |X| No |_|
Indicate by check mark whether the registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act). Yes |X| No |_|
There were 6,800,000 shares outstanding of registrant's common stock, par value
$.001 per share, as of November 7, 2005.
Transitional Small Business Disclosure Format (check one): Yes |_| No |X|
INDEX
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements:
Balance Sheets at December 31, 2004 and September 30, 2005 (unaudited)
Statements of Operations (unaudited) for the period from March 16,
2004 through September 30, 2004, for the nine months ended
September 30, 2005, from Inception (March 16, 2004) to September
30, 2005, for the three months ended September 30, 2004, and for
the three months ended September 30, 2005
Statements of Cash Flows (unaudited) for the period from March 16,
2004 through September 30, 2004, for the nine months ended
September 30, 2005 and from Inception (March 16, 2004) to
September 30, 2005
Notes to Financial Statements
Item 2. Management's Discussion and Analysis of Financial Condition or Plan of Operation
Item 3. Controls and Procedures
PART II. OTHER INFORMATION
Item 1. Legal Proceedings
Item 2. Unregistered Sales of Equity Securities and Use of Procedures
Item 3. Default Upon Senior Securities
Item 4. Submission of Matters to a Vote of Security Holders
Item 5. Other Information
Item 6. Exhibits
Signatures
1
PART I - FINANCIAL INFORMATION
Item 1. FINANCIAL STATEMENTS
The accompanying unaudited financial statements have been prepared in accordance
with accounting principles generally accepted in the United States of America
for interim financial information and with the instructions to Form 10-QSB and
Item 310 of Regulation S-B. Accordingly, they do not include all of the
information and footnotes required by generally accepted accounting principles
for complete financial statements. The accompanying unaudited financial
statements reflect all adjustments that, in the opinion of management, are
considered necessary for a fair presentation of the financial position, results
of operations, and cash flows for the periods presented. The results of
operations for such periods are not necessarily indicative of the results
expected for the full fiscal year or for any future period. The accompanying
unaudited financial statements should be read in conjunction with the audited
financial statements of SRKP 1, Inc. included in the Form 10-KSB for the fiscal
year ended December 31, 2004.
2
SRKP 1, INC.
(A Development Stage Company)
BALANCE SHEETS
ASSETS
December September 30,
31, 2004 2005
(Unaudited)
ASSETS:
Cash .................................................................... $ 40,282 $ 784
Subscription receivable ................................................. 40,000 --
--------- ---------
Total current assets ............................................... 80,282 784
Restricted cash ......................................................... -- 119,409
--------- ---------
$ 80,282 $ 120,193
========= =========
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES
Accounts payable ........................................................ $ 11,050 $ 8,399
--------- ---------
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Preferred stock, $.001 par value, 10,000,000 shares
authorized, none issued ............................................... -- --
Common stock, $.001 par value, 100,000,000 shares
authorized, 6,800,000 shares issued and
outstanding ........................................................... 6,800 6,800
Subscription Receivable ................................................. (69,000) --
Additional paid-in capital ............................................. 212,200 212,200
(Deficit) accumulated during development stage .......................... (80,768) (107,206)
--------- ---------
Total Stockholders' Equity ....................................... 69,232 111,794
--------- ---------
$ 80,282 $ 120,193
========= =========
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
3
SRKP 1, INC.
(A Development Stage Company)
STATEMENTS OF OPERATIONS
(Unaudited)
For the Three For the Three
Months Months
Ended Ended
September September
30, 2005 30, 2004
REVENUE $ -- $ --
----------- -----------
EXPENSES 4,364 21,217
----------- -----------
INTEREST INCOME 244 --
----------- -----------
NET (LOSS) $ (4,120) $ (21,217)
----------- -----------
NET (LOSS) PER COMMON SHARE - BASIC $ * $ *
----------- -----------
WEIGHTED AVERAGE NUMBER OF COMMON SHARES
OUTSTANDING 6,800,000 5,400,000
----------- -----------
*Less than $.01
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
4
SRKP 1, INC.
(A Development Stage Company)
STATEMENTS OF OPERATIONS
(Unaudited)
For the Period For the Nine Cumulative from
From March 16, Months March 16, 2004
2004 to Ended (inception) to
September 30, September September 30,
2005 30, 2005 2005
REVENUE $ -- $ -- $ --
------------------------------------------------
EXPENSES 61,142 26,847 107,615
------------------------------------------------
INTEREST INCOME -- 409 409
------------------------------------------------
NET (LOSS) $ (61,142) $ (26,438) $ (107,206)
------------------------------------------------
NET (LOSS) PER COMMON SHARE - BASIC $ (.01) $ *
-----------------------------
WEIGHTED AVERAGE NUMBER OF COMMON SHARES
OUTSTANDING 5,400,000 6,800,000
-----------------------------
*Less than $.01
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
5
SRKP 1, INC.
(A Development Stage Company)
STATEMENTS OF CASH FLOWS
(Unaudited)
For the Period Cumulative from
From March 16, For the Nine March 16, 2004
2004 to Months Ended (inception) to
September 30, September 30, September 30,
2004 2005 2005
CASH FLOWS FROM (TO) OPERATING ACTIVITIES:
Net (loss) $ (61,142) $ (26,438) $(107,206)
Adjustments to reconcile net (loss) to net cash (used) by
operating activities:
Changes in:
Restricted cash -- (119,409) (119,409)
Accounts payable 8,789 (2,651) 8,399
--------- --------- ---------
Net Cash (Used) by Operating Activities (52,353) (148,498) (218,216)
--------- --------- ---------
CASH FLOWS FROM FINANCING ACTIVITIES:
Common stock issued for cash 100,000 -- 110,000
Collection of subscription receivable -- 109,000 109,000
--------- --------- ---------
Net Cash Provided by Financing Activities 100,000 109,000 219,000
--------- --------- ---------
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS 47,647 (39,498) 784
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD -- 40,282 --
--------- --------- ---------
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 47,647 $ 784 $ 784
========= ========= =========
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
6
SRKP 1, INC.
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
History
SRKP 1, Inc. (the Company), a development stage company, was organized under the
laws of the State of Delaware on March 16, 2004. The Company is in the
development stage as defined in Financial Accounting Standards Board Statement
No. 7. The fiscal year end is December 31.
Going Concern and Plan of Operation
The Company's financial statements have been presented on the basis that it is a
going concern, which contemplates the realization of assets and the satisfaction
of liabilities in the normal course of business. The Company is in the
development stage and has not earned any revenues from operations to date.
The Company is currently devoting its efforts to locating merger candidates. The
Company's ability to continue as a going concern is dependent upon its ability
to develop additional sources of capital, locate and complete a merger with
another company, and ultimately, achieve profitable operations. The accompanying
financial statements do not include any adjustments that might result from the
outcome of these uncertainties.
Income Taxes
The Company uses the liability method of accounting for income taxes pursuant to
Statement of Financial Accounting Standards No. 109. Under this method, deferred
income taxes are recorded to reflect the tax consequences in future years of
temporary differences between the tax basis of the assets and liabilities and
their financial amounts at year end.
For federal income tax purposes, substantially all expenses must be deferred
until the Company commences business and then they may be written off over a 60
month period. These expenses will not be deducted for tax purposes and will
represent a deferred tax asset. The Company will provide a valuation allowance
in the full amount of the deferred tax asset since there is no assurance of
future taxable income. Tax deductible losses can be carried forward for 20 years
until utilized.
Cash and Cash Equivalents
Cash and cash equivalents consist primarily of cash in banks and highly liquid
investments with original maturities of 90 days or less.
Restricted Cash
Proceeds from the Initial Public Offering are restricted until a merger is
completed.
Concentrations of Credit Risk
The Company maintains all cash in deposit accounts, which at times may exceed
federally insured limits. The Company has not experienced a loss in such
accounts.
7
SRKP 1, INC.
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
Earnings Per Common Share
Basic earnings per common share is computed based upon the weighted average
number of common shares outstanding during the period. Diluted earnings per
share consists of the weighted average number of common shares outstanding plus
the dilutive effects of options and warrants calculated using the treasury stock
method. In loss periods, dilutive common equivalent shares are excluded as the
effect would be anti-dilutive.
Use of Estimates in the Preparation of Financial Statements
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, the disclosure of
contingent assets and liabilities at the date of the financial statements and
the reported amounts of revenues and expenses during the reporting periods.
Actual results could differ from those estimates and assumptions.
Recently Issued Accounting Pronouncements
The Company has adopted all recently issued accounting pronouncements. The
adoption of the accounting pronouncements is not anticipated to have a material
effect on the operations of the Company.
NOTE 2 - STOCKHOLDERS' EQUITY
During March 2004, the Company sold for $100,000 cash 5,400,000 shares of its
$.001 par value common stock to various investors. During December 2004 the
Company sold 1,400,000 shares of its $.001 par value common stock through its
Initial Public Offering for $10,000 and a subscription receivable for $109,000.
The subscription receivable was fully collected during the period ended June 30,
2005.
The Board of Directors declared a two-for-one stock split in July 2005. All
per-share amounts and number of shares outstanding in this report have been
restated retroactively for the stock split.
NOTE 3 - RELATED PARTY TRANSACTIONS
The Company neither owns nor leases any real or personal property. Most office
services are provided without charge by the president. Such costs are immaterial
to the financial statements and accordingly, have not been reflected therein.
The officers and directors of the Company are involved in other business
activities and may, in the future, become involved in other business
opportunities as they become available, such persons may face a conflict in
selecting between the Company and their other business interests. The Company
has not formulated a policy for the resolution of such conflicts.
8
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION OR PLAN OF
OPERATION
History and Organization
We were organized under the laws of the State of Delaware on March 16,
2004. Since our inception, we have been engaged in organizational efforts and
obtaining initial financing. We were formed as a vehicle to pursue a business
combination. We have made no efforts to identify a possible business combination
and, as a result, have not conducted negotiations or entered into a letter of
intent concerning any target business. We have no full-time employees. Our
officers and directors allocate a portion of their time to the activities of
SRKP 1 without compensation. We do not expect to make any acquisitions of
property.
We are, based on proposed business activities, a "blank check"
company. The Securities and Exchange Commission defines those companies as "any
development stage company that is issuing a penny stock, within the meaning of
Section 3(a)(51) of the Exchange Act, and that has no specific business plan or
purpose, or has indicated that its business plan is to merge with an
unidentified company or companies." Management does not intend to undertake any
efforts to cause a market to develop in our securities, either debt or equity,
until we have successfully concluded a business combination.
We conducted a "blank check" offering subject to Rule 419 of
Regulation C under the Securities Act of 1934, whereby we sold 700,000
(pre-split) shares of common stock, which shall be held in escrow pending the
consummation of a business combination. Refer also to "Operations" below.
On July 12, 2005, we filed a Certificate of Amendment to our
Certificate of Incorporation with the Secretary of State of Delaware to effect a
2-for-1 forward split (the "Stock Split") of our outstanding shares of common
stock. Holders of a majority of our outstanding shares of common stock approved
the Stock Split by action of written consent on July 8, 2005. The number of
authorized shares, and the par value, of our common stock was not affected by
the Stock Split.
Operations
We were organized as a vehicle to investigate and, if such
investigation warrants, acquire a target company or business seeking the
perceived advantages of being a publicly held corporation. Our principal
business objective for the next 12-14 months will be to achieve long-term growth
potential through a combination with a business rather than immediate,
short-term earnings. We will not restrict our potential candidate target
companies to any specific business, industry or geographical location and, thus,
may acquire any type of business.
We do not currently engage in any business activities that provide
cash flow. The reference to us as a "blank check" company is because investors
will entrust their investment monies to our management without knowing the
ultimate use to which their money may be put. All of the proceeds of our public
offering are intended to be utilized generally to effect a business combination.
Investors will have an opportunity to evaluate the specific merits or risks only
of the business combination our management decides to enter into.
9
During the next 12-14 months we anticipate incurring costs related to:
(i) filing of Exchange Act reports (approximately $15,000),
(ii) filing of a post-effective registration statement amendment
and related to the reconfirmation offer, upon identification
of a suitable merger candidate (approximately $25,000), and
(iii) costs relating to consummating a stockholder approved
acquisition (approximately $50,000).
We believe will be able to meet these costs through current monies in
our treasury ($784 as of September 30, 2005), additional amounts, as necessary,
to be loaned to us by our management or promoters and deferral of fees by
certain service providers, if necessary. Any advancement would be made in
connection with our management's and promoters' oral commitment to make payments
for our expenses, prior to the consummation of a business combination, to the
extent such expenses are not deferred and would either exceed our available
funds or would render us effectively insolvent upon our payment. Any loans by
our management or promoters would be on an interest free basis, payable only
upon consummation of a merger transaction. Upon consummation of a business
combination, we may reimburse our management or promoters for any such loans out
of the proceeds of this offering or of that transaction.
We may consider a business which has recently commenced operations, is
a developing company in need of additional funds for expansion into new products
or markets, is seeking to develop a new product or service, or is an established
business which may be experiencing financial or operating difficulties and is in
need of additional capital. In the alternative, a business combination may
involve the acquisition of, or merger with, a company which does not need
substantial additional capital, but which desires to establish a public trading
market for its shares, while avoiding, among other things, the time delays,
significant expense, and loss of voting control which may occur in a public
offering.
Under Rule 419, we cannot acquire a target business unless its fair
value represents at least 80% of the maximum offering proceeds of our public
offering ($119,000).
To determine the fair market value of a target business, our
management will examine the audited financial statements, including balance
sheets and statements of cash flow and stockholders' equity, of any candidate,
focusing attention on its assets, liabilities, sales and net worth. In addition,
our management will participate in a personal inspection of any potential target
business. If we determine that the financial statements of a proposed target
business do not clearly indicate that its fair value represents at least 80% of
the maximum offering proceeds of our public offering ($119,000), we may obtain
an opinion from an investment banking firm which is a member of the National
Association of Securities Dealers, Inc. with respect to the satisfaction of such
criteria.
Any target business that is selected may be a financially unstable
company or an entity in its early stages of development or growth, including
entities without established records of sales or earnings. In that event, we
will be subject to numerous risks inherent in the business and operations of
financially unstable and early stage or potential emerging growth companies. In
10
addition, we may effect a business combination with an entity in an industry
characterized by a high level of risk, and, although our management will
endeavor to evaluate the risks inherent in a particular target business, there
can be no assurance that we will properly ascertain or assess all significant
risks.
Our management anticipates that it will likely be able to effect only
one business combination, due primarily to our limited financing, and the
dilution of interest for present and prospective stockholders, which is likely
to occur as a result of our management's plan to offer a controlling interest to
a target business in order to achieve a tax free reorganization. This lack of
diversification should be considered a substantial risk in investing in us,
because it will not permit us to offset potential losses from one venture
against gains from another.
We anticipate that the selection of a business combination will be
complex and extremely risky. Because of general economic conditions, rapid
technological advances being made in some industries and shortages of available
capital, our management believes that there are numerous firms seeking even the
limited additional capital which we will have and/or the perceived benefits of
becoming a publicly traded corporation. Such perceived benefits of becoming a
publicly traded corporation include, among other things, facilitating or
improving the terms on which additional equity financing may be obtained,
providing liquidity for the principals of a business, creating a means for
providing incentive stock options or similar benefits to key employees, and
providing liquidity, subject to restrictions of applicable statutes, for all
stockholders. Potentially available business combinations may occur in many
different industries and at various stages of development, all of which will
make the task of comparative investigation and analysis of such business
opportunities extremely difficult and complex.
We currently have two part time employees. We do not expect any
significant changes in the number of our employees during the next 12 months
unless we consummate a business combination.
Evaluation of Business Combinations
Our officers and directors will analyze or supervise the analysis of
prospective business combinations. Our management intends to concentrate on
preliminary prospective business combinations, which may be brought to its
attention through present associations or other third parties. We do not
currently intend to retain any entity to act as a "finder" to identify and
analyze the merits of potential target businesses. While we have not established
definitive criteria for acquisition candidates, we intend to focus on candidates
satisfying some, but not necessarily all, of the following criteria:
o A minimum of two years' operating history,
o At least $5.0 million in annual revenue and/or pre-tax profit
of $300,000 and
o At least $300,000 in stockholders' equity.
In analyzing prospective business combinations, our management will
also consider such matters as the following:
o Available technical, financial, and managerial resources,
11
o Working capital and other financial requirements,
o Prospects for the future,
o Nature of present and expected competition,
o The quality and experience of management services which may be
available and the depth of that management,
o The potential for further research, development, or
exploration,
o Specific risk factors not now foreseeable but which then may
be anticipated to impact on our proposed activities,
o The potential for growth or expansion,
o The potential for profit,
o The perceived public recognition or acceptance or products or
services, and
o Name identification and other relevant factors.
As a part of our investigation, our officers and directors will meet
personally with management and key personnel, visit and inspect material
facilities, check references of management and key personnel, and take other
reasonable investigative measures, to the extent of our limited financial
resources and management expertise.
We anticipate that any business combination will present certain
risks. We may not be able adequately to identify many of these risks prior to
selection. Our investors must, therefore, depend on the ability of our
management to identify and evaluate these risks. We anticipate that the
principals of some of the combinations which will be available to us will have
been unable to develop a going concern or that such business will be in its
development stage in that it has not generated significant revenues from its
principal business activity. The risk exists that even after the consummation of
such a business combination and the related expenditure of our funds, the
combined enterprise will still be unable to become a going concern or advance
beyond the development stage. Many of the potential business combinations may
involve new and untested products, processes or market strategies. We may assume
such risks although they may adversely impact on our stockholders because we
consider the potential rewards to outweigh them.
Business Combinations
The actual terms of a business combination cannot be predicted. In
implementing a structure for a particular business combination, we may become a
party to a merger, consolidation, reorganization, joint venture, or licensing
agreement with another corporation or entity. We may alternatively purchase
stock or assets of an existing business.
Any merger, acquisition or other business combination can be expected
to have a significant dilutive effect on the percentage of shares held by our
existing stockholders, including investors in our public offering. The target
business we consider will, in all probability, have significantly more assets
12
than we do. Therefore, in all likelihood, our management will offer a
controlling interest in our company to the owners of the target business. While
the actual terms of a transaction to which we may be a party cannot be
predicted, we expect that the parties to the business transaction will find it
desirable to avoid the creation of a taxable event and thereby structure the
acquisition in a so-called "tax-free" reorganization under Sections 368(a)(1) or
351 of the Internal Revenue Code. In order to obtain tax-free treatment under
the Internal Revenue Code, the owners of the acquired business may need to own
80% or more of the voting stock of the surviving entity. As a result, our
stockholders, including investors in our public offering, would retain 20% or
less of the issued and outstanding shares of the surviving entity, which would
result in significant dilution in percentage of the entity after the combination
and may also result in a reduction in the net tangible book value per share of
our investors. In addition, a majority or all of our directors and officers will
probably, as part of the terms of the acquisition transaction, resign as
directors and officers.
Our management will not actively negotiate or otherwise consent to the
purchase of any portion of their common stock as a condition to or in connection
with a proposed business combination, unless such a purchase is demanded by the
principals of the target company as a condition to a merger or acquisition. Our
officers and directors have agreed to this restriction which is based on an oral
understanding between members of our management. Members of our management are
unaware of any circumstances under which such policy, through their own
initiative, may be changed.
The issuance of substantial additional securities and their potential
sale into any trading market which may develop in our common stock may have a
depressive effect on our trading market.
The structure of the business combination will depend on, among other
factors:
o The nature of the target business,
o Our needs and desires and the needs and desires of the persons
controlling the target business,
o The management of the target business, and
o Our relative negotiating strength compared to the strength of
the persons controlling the target business.
We will not purchase the assets of any company of which a majority of
the outstanding capital stock is beneficially owned by one or more or our
officers, directors, promoters or affiliates or associates. Furthermore, we
intend to adopt a procedure whereby a special meeting of our stockholders will
be called to vote upon a business combination with an affiliated entity, and
stockholders who also hold securities of such affiliated entity will be required
to vote their shares of stock in the same proportion as our publicly held shares
are voted. Our officers and directors have not approached and have not been
approached by any person or entity with regard to any proposed business venture
which desires to be acquired by us. If at any time a business combination is
brought to us by any of our promoters, management, or their affiliates or
associates, disclosure as to this fact will be included in a post-effective
amendment to our registration statement on Form SB-2, as required by Rule 419.
This will allow our public investors the opportunity to evaluate the business
combination before voting to reconfirm their investment.
13
Reporting Requirements
We will exercise our duty to file independent audited financial
statements with the Securities and Exchange Commission as part of a Form 8-K
upon consummation of a merger or acquisition.
The Securities and Exchange Commission recently adopted new rules
which require a "shell company" (as that term is defined in Rule 12b-2 of under
the Securities Exchange Act of 1934, as amended, or the "Exchange Act") to file
a current report on Form 8-K reporting the material terms of the transaction
when that company completes a transaction which causes it to cease being a
"shell company." Because we fall under the definition of a "shell company," this
reporting requirement would apply to us in the event we complete a transaction
that causes us to cease being a "shell company."
Off Balance Sheet Arrangements
We do not have any off-balance sheet arrangements.
ITEM 3. CONTROLS AND PROCEDURES
Evaluation of Disclosure Controls and Procedures
As of September 30, 2005, our management, with the participation of our
Chief Executive Officer, or "CEO," and Chief Financial Officer, of "CFO,"
performed an evaluation of the effectiveness and the operation of our disclosure
controls and procedures as defined in Rules 13a-15(e) or 15d-15(e) under the
Exchange Act. Based on that evaluation, the CEO and CFO concluded that our
disclosure controls and procedures were effective as of September 30, 2005.
Changes in Internal Controls
There have been no changes in our internal control over financial
reporting identified in connection with the evaluation required by paragraph (d)
Rule 13a-15 or 15d-15 under the Exchange Act that occurred during the quarter
ended September 30, 2005 that has materially affected, or is reasonably likely
to affect, our internal control over financial reporting.
14
PART II-OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
There is no litigation of any type whatsoever pending or threatened
by or against us or our officers and/or directors.
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
None.
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
(a) Exhibits
31.1 Certification of Chief Executive Officer pursuant to Section
302(a) of the Sarbanes-Oxley Act of 2002.
31.2 Certification of Chief Financial Officer pursuant to Section
302(a) of the Sarbanes-Oxley Act of 2002.
32.1 Certification of Chief Executive Officer and Chief Financial
Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of
2002.*
* This exhibit shall not be deemed "filed" for purposes of Section 18 of the
Securities Exchange Act of 1934 or otherwise subject to the liabilities of that
section, nor shall it be deemed incorporated by reference in any filing under
the Securities Act of 1933 or the Securities Exchange Act of 1934, whether made
before or after the date hereof and irrespective of any general incorporation
language in any filings.
15
SIGNATURES
In accordance with the requirements of the Exchange Act, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
November 10, 2005 SRKP 1, Inc.
(Registrant)
By: /s/ Richard Rappaport
----------------------------------
Richard Rappaport
President (Principal Executive Officer)
By: /s/ Glenn Krinsky
----------------------------------
Glenn Krinsky
Chief Financial Officer (Principal
Financial and Accounting Officer)
16