UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2014
Commission File Number 000-55049
REDSTONE LITERARY AGENTS INC.
(Exact name of registrant as specified in its charter)
NEVADA
(State or other jurisdiction of incorporation or organization)
1842 E Campo Bello Drive
Phoenix, AZ 85022
(Address of principal executive offices, including zip code)
(602)867-0160
(Telephone number, including area code)
Mary S. Wolf, President
Redstone Literary Agents Inc.
1842 E Campo Bello Drive
Phoenix, AZ 85022
Telephone (602)867-0160 Facsimile (602)865-7313
(Name, address and telephone number of agent for service)
Securities registered pursuant to Section 12(b) of the Act:
None
Securities registered pursuant to section 12(g) of the Act:
Common Stock, $.001 par value
Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act 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 last 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 (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 [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. See
the definitions of "large accelerated filer, "accelerated filer,"
"non-accelerated filer," and "smaller reporting company" in Rule 12b-2 of the
Exchange Act.
Large accelerated filer [ ] Accelerated filer [ ]
Non-accelerated filer [ ] 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 [ ]
As of May 1, 2014, the registrant had 6,000,000 shares of common stock issued
and outstanding. No market value has been computed based upon the fact that no
active trading market had been established as of May 20, 2014.
REDSTONE LITERARY AGENTS INC.
INDEX
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements (Unaudited)
Condensed Balance Sheets
As of March 31, 2014 (Unaudited) and December 31, 2013 (Audited) 3
Condensed Statements of Operations
For the three Month Periods Ended March 31, 2014 and 2013 and
the Period from Inception (July 20, 2010) Through March 31, 2014 4
Condensed Statements of Cash Flows
For the three Month Periods Ended March 31, 2014 and 2013 and
the Period from Inception (July 20, 2010) Through March 31, 2014 5
Condensed Statement of Movement in Stockholders' Deficit
For the period from Inception (July 20, 2010) Through March 31, 2014 6
Notes to Unaudited Financial Statements 7
Item 2. Management's Discussion and Analysis of Financial Condition
and Results of Operations 10
Item 3. Quantitative and Qualitative Disclosures About Market Risk 13
Item 4. Controls and Procedures 13
PART II - OTHER INFORMATION
Item 1. Legal Proceedings 15
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 15
Item 3. Defaults upon Senior Securities 15
Item 4. Mine Safety Disclosures 15
Item 5. Other Information 15
SIGNATURES 16
2
Redstone Literary Agents, Inc.
(A Development Stage Company)
Condensed Balance Sheets
--------------------------------------------------------------------------------
March 31, 2014 December 31, 2013
-------------- -----------------
(Unaudited) (Audited)
ASSETS
CURRENT ASSETS
Cash & cash equivalents $ 9,154 $ 23,665
-------- --------
Total current assets 9,154 23,665
-------- --------
TOTAL ASSETS $ 9,154 $ 23,665
======== ========
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
CURRENT LIABILITIES
Accounts payable $ -- $ 100
Loans from related party 9,622 9,527
-------- --------
Total current liabilities 9,622 9,627
-------- --------
TOTAL LIABILITIES 9,622 9,627
STOCKHOLDERS' EQUITY (DEFICIT)
Common stock, $0.001 par value, 75,000,000 shares authorized;
6,000,000 shares issued and outstanding: 6,000 6,000
Additional paid-in-capital 54,000 54,000
Deficit accumulated during the development stage (60,468) (45,962)
-------- --------
Total Stockholders' Equity (Deficit) (468) 14,038
-------- --------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 9,154 $ 23,665
======== ========
The accompanying notes are an integral part of
these unaudited financial statements.
3
Redstone Literary Agents, Inc.
(A Development Stage Company)
Condensed Statement of Operations
(Unaudited)
--------------------------------------------------------------------------------
For the Period
Three Months Three Months from Inception
Ended Ended (July 20, 2010) to
March 31, 2014 March 31, 2013 March 31, 2014
-------------- -------------- --------------
REVENUE $ -- $ -- $ 11,150
GENERAL AND ADMINISTRATIVE EXPENSES
Bank charges and interest 155 51 1,454
Consulting fees 450 450 12,830
Professional fees 2,000 3,250 27,200
Filing fees 11,901 808 20,557
Office expenses -- -- 9,577
---------- ---------- ----------
Total general and administrative expenses 14,506 4,559 71,618
---------- ---------- ----------
Net loss from operations (14,506) (4,559) (71,618)
Provision for taxes -- -- --
---------- ---------- ----------
Net loss $ (14,506) $ (4,559) $ (60,468)
========== ========== ==========
LOSS PER COMMON SHARE - BASIC AND DILUTED $ (0.00)* $ (0.00)*
========== ==========
WEIGHTED AVERAGE NUMBER OF COMMON SHARES
OUTSTANDING - BASIC AND DILUTED 6,000,000 6,000,000
========== ==========
----------
* denotes a loss of less than $(0.01) per share.
The accompanying notes are an integral part of
these unaudited financial statements.
4
Redstone Literary Agents, Inc.
Condensed Statement of Changes in Stockholders' Equity (Deficit)
(A Development Stage Company)
(Unaudited)
--------------------------------------------------------------------------------
Deficit Total
Accumulated Stock-
Number of Additional Total During the holders'
Common Par Paid-in Capital Development Equity
Shares Value Capital Stock Stage (Deficit)
------ ----- ------- ----- ----- ---------
Balance, July 20, 2010
(Inception) - audited
Common Shares issued for cash
at $0.005 on July 20, 2010 3,000,000 $ 3,000 $12,000 $ 15,000 $ -- $ 15,000
Share subscription receivable -- -- -- (5,000) -- (5,000)
Net loss for the period -- -- -- -- (770) (770)
--------- ------- ------- -------- -------- ---------
Balance, December 31, 2010 -
audited 3,000,000 3,000 12,000 10,000 (770) 9,230
Net loss for the year -- -- -- -- (13,310) (13,310)
--------- ------- ------- -------- -------- ---------
Balance, December 31, 2011 -
audited 3,000,000 3,000 12,000 10,000 (14,080) (4,080)
Common Shares issued for cash at
$0.015 on January 27, 2012 3,000,000 3,000 42,000 45,000 -- 45,000
Share subscription received -- -- -- 5,000 -- 5,000
Net loss for the year -- -- -- -- (13,292) (13,292)
--------- ------- ------- -------- -------- ---------
Balance, December 31, 2012 -
audited 6,000,000 6,000 54,000 60,000 (27,372) 32,628
Net loss for the year -- -- -- (18,590) (18,590)
--------- ------- ------- -------- -------- ---------
Balance, December 31, 2013 -
audited 6,000,000 6,000 54,000 60,000 (45,962) 14,038
Net loss for the period -- -- -- -- (14,506) (14,506)
--------- ------- ------- -------- -------- ---------
Balance, March 31, 2014 -
unaudited 6,000,000 $ 6,000 $54,000 $ 60,000 $(60,468) $ (468)
========= ======= ======= ======== ======== =========
The accompanying notes are an integral part of
these unaudited financial statements.
5
Redstone Literary Agents, Inc.
Condensed Statements of Cash Flows
(A Development Stage Company)
(Unaudited)
--------------------------------------------------------------------------------
For the Period
Three Months Three Months from Inception
Ended Ended (July 20, 2010) to
March 31, 2014 March 31, 2013 March 31, 2014
-------------- -------------- --------------
CASH DERIVED FROM (USED FOR) OPERATING ACTIVITIES
Net loss for the period $(14,506) $ (4,559) $(60,468)
Changes in operating assets and liabilities
Accounts payable (100) -- --
-------- -------- --------
Net cash (used in) operating activities (14,606) $ (4,559) (60,468)
-------- -------- --------
INVESTING ACTIVITIES
Net cash provided by (used in) investing activities -- -- --
-------- -------- --------
FINANCING ACTIVITIES
Proceeds from sale of common stock -- -- 60,000
Proceeds from loans from related party 95 -- 9,622
-------- -------- --------
Net cash provided by financing activities 95 -- 69,622
-------- -------- --------
Net changes in cash and equivalents (14,511) (4,559) 9,154
Cash and equivalents at beginning of the period 23,665 41,789 --
-------- -------- --------
Cash and equivalents at end of the period $ 9,154 $ 37,230 $ 9,154
======== ======== ========
The accompanying notes are an integral part of
these unaudited financial statements.
6
Redstone Literary Agents, Inc.
(A Development Stage Company)
Notes to Financial Statements
March 31, 2014
(Unaudited)
--------------------------------------------------------------------------------
1. NATURE AND CONTINUANCE OF OPERATIONS
Redstone Literary Agents, Inc. ("the Company") was incorporated under the laws
of State of Nevada on July 20, 2010 (Inception) with an authorized share capital
of 75,000,000 shares of common stock with a par value of $0.001. The Company's
year-end is December 31. The Company is in the development stage of its
publishing service business. .
GOING CONCERN
These financial statements have been prepared on a going concern basis which
assumes the Company will be able to realize its assets and discharge its
liabilities in the normal course of business for the foreseeable future. The
Company has incurred losses since Inception resulting in an accumulated deficit
of $60,468 as at March 31, 2014 and further losses are anticipated in the
development of its business raising substantial doubt about the Company's
ability to continue as a going concern. The ability to continue as a going
concern is dependent upon the Company generating profitable operations in the
future and, or, obtaining the necessary financing to meet its obligations and
repay its liabilities arising from normal business operations when they come
due. Management intends to finance operating costs over the next twelve months
with existing cash on hand, loans from directors and, or, the private placement
of shares of the Company's common stock.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BASIS OF PRESENTATION
The financial statements of the Company have been prepared in accordance with
generally accepted accounting principles in the United States of America and are
presented in US dollars.
DEVELOPMENT STAGE COMPANY
The Company is a development stage company in accordance with Financial
Accounting Standards Codification ("ASC") 915 "DEVELOPMENT STAGE ENTITIES".
Among the disclosures required as a development stage company are that our
financial statements are identified as those of a development stage company and
that the statements of operations, changes in stockholders' equity (deficit) and
cash flows disclose activity since the date of our Inception (July 20, 2010) as
a development stage company.
USE OF ESTIMATES AND ASSUMPTIONS
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 revenues and expenses during the period. Actual results
could differ from those estimates.
INCOME TAXES
The Company follows the liability method of accounting for income taxes. Under
this method, deferred income tax assets and liabilities are recognized for the
estimated tax consequences attributable to differences between the financial
statement carrying values and their respective income tax basis (temporary
differences). The effect on deferred income tax assets and liabilities of a
change in tax rates is recognized in income in the period that includes the
enactment date.
At March 31, 2014, a full deferred tax asset valuation allowance has been
provided and no deferred tax asset has been recorded.
7
2. Earning Per Share
The Company computes loss per share in accordance with ASC 105, "EARNINGS PER
SHARE" which requires presentation of both basic and diluted earnings per share
on the face of the statement of operations. Basic loss per share is computed by
dividing net loss available to common shareholders by the weighted average
number of outstanding common shares during the period. Diluted 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 potential dilutive debt or equity instruments issued and
outstanding during the three months ended March 31, 2014 or 2013 and accordingly
basic loss per share and identical to diluted loss per share.
STOCK-BASED COMPENSATION
The Company accounts for employee and non-employee stock awards under ASC 718,
whereby equity instruments issued to employees for services are recorded based
on the fair value of the instrument issued and those issued to non-employees are
recorded based on the fair value of the consideration received or the fair value
of the equity instrument, whichever is more reliably measurable.
CASH AND CASH EQUIVALENTS
For purposes of the statement of cash flows, the Company considers all highly
liquid instruments purchased with an original maturity of three months or less
to be cash equivalents.
DIVIDENDS
The Company has not adopted any policy regarding payment of dividends. No
dividends have been paid during any of the periods shown.
IMPAIRMENT OF LONG-LIVED ASSETS
The Company, when applicable, continually monitors events and changes in
circumstances that could indicate carrying amounts of long-lived assets may not
be recoverable. When such events or changes in circumstances are present, the
Company assesses the recoverability of long-lived assets by determining whether
the carrying value of such assets will be recovered through undiscounted
expected future cash flows. If the total of the future cash flows is less than
the carrying amount of those assets, the Company recognizes an impairment loss
based on the excess of the carrying amount over the fair value of the assets.
Assets to be disposed of are reported at the lower of the carrying amount or the
fair value less costs to sell.
FINANCIAL INSTRUMENTS
Fair value measurements are determined based on the assumptions that market
participants would use in pricing an asset or liability. ASC 820-10 establishes
a hierarchy for inputs used in measuring fair value that maximizes the use of
observable inputs and minimizes the use of unobservable inputs by requiring that
the most observable inputs be used when available. ASC 820 establishes a fair
value hierarchy that prioritizes the use of inputs used in valuation
methodologies into the following three levels:
Level 1: Quoted prices (unadjusted) for identical assets or liabilities in
active markets. A quoted price in an active market provides the most reliable
evidence of fair value and must be used to measure fair value whenever
available.
Level 2: Significant other observable inputs other than Level 1 prices such as
quoted prices for similar assets or liabilities; quoted prices in markets that
are not active; or other inputs that are observable or can be corroborated by
observable market data.
Level 3: Significant unobservable inputs which reflect a reporting entity's own
assumptions about the assumptions that market participants would use for pricing
an asset or liability. For example, level 3 inputs would relate to forecasts of
future earnings and cash flows used in a discounted future cash flows method.
8
The recorded amounts of financial instruments, including accounts payable and
loans from related party approximate their market values as of March 31, 2014
because of the short maturity of these instruments.
RECENT ACCOUNTING PRONOUNCEMENTS
We have reviewed all the recently issued, but not yet effective, accounting
pronouncements and we do not believe that the future adoption of any such
pronouncements may be expected to cause a material impact on our financial
condition or the results of our operations.
RECLASSIFICATIONS
Certain amounts previously presented for prior periods have been reclassified.
The reclassifications had no effect on net loss, total assets, or total
shareholders' equity.
3. COMMON STOCK
The total number of common shares authorized that may be issued by the Company
is 75,000,000 shares with a par value of one tenth of one cent ($0.001) per
share and no other class of shares is authorized.
As of March 31, 2014, the Company has issued 6,000,000 shares of common stock
for total cash proceeds of $60,000.
At March 31, 2014, there were no outstanding stock options or warrants.
4. INCOME TAXES
As of March 31, 2014, the Company had net operating loss carry forwards of
approximately $60,468 that may be available to reduce future years' taxable
income, expiring 2030 through 2034. Future tax benefits which may arise as a
result of these losses have not been recognized in these financial statements,
as their realization is determined not likely to occur and accordingly, the
Company has recorded a valuation allowance for the deferred tax asset relating
to these tax loss carry-forwards.
5. RELATED PARTY TRANSACTIONS
In support of the Company's efforts and cash requirements, it may rely on
advances from related parties until such time that the Company can support its
operations or attains adequate financing through sales of its equity or
traditional debt financing. There is no formal written commitment for continued
support by shareholders. Amounts represent advances or amounts paid in
satisfaction of liabilities. The advances are considered temporary in nature and
have not been formalized by a promissory note.
As of March 31, 2014, the Company had a loan outstanding with one of the
Company's shareholders in the amount of $9,622 with a 4% annual interest rate.
The loan is unsecured and due on demand.
6. SUBSEQUENT EVENT
In accordance with ASC 855-10, "Subsequent Events" the Company has analyzed its
operations subsequent to March 31, 2014 to the date these financial statements
were available to be issued on May 20, 2014, and has determined that it does not
have any material subsequent events to disclose in these financial statements.
9
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION
FORWARD LOOKING STATEMENTS
Some of the statements contained in this Form 10-Q that are not historical facts
are "forward-looking statements" which can be identified by the use of
terminology such as "estimates," "projects," "plans," "believes," "expects,"
"anticipates," "intends," or the negative or other variations, or by discussions
of strategy that involve risks and uncertainties. We urge you to be cautious of
the forward-looking statements, that such statements, which are contained in
this Form 10-Q, reflect our current beliefs with respect to future events and
involve known and unknown risks, uncertainties and other factors affecting our
operations, market growth, services, products and licenses. No assurances can be
given regarding the achievement of future results, as actual results may differ
materially as a result of the risks we face, and actual events may differ from
the assumptions underlying the statements that have been made regarding
anticipated events.
All written forward-looking statements made in connection with this Form 10-Q
that are attributable to us or persons acting on our behalf are expressly
qualified in their entirety by these cautionary statements. Given the
uncertainties that surround such statements, you are cautioned not to place
undue reliance on such forward-looking statements.
The safe harbours of forward-looking statements provided by the Securities
Litigation Reform Act of 1995 are unavailable to issuers not subject to the
reporting requirements set forth under Section 13(a) or 15(d) of the Securities
Exchange Act of 1934, as amended. As we have not registered our securities
pursuant to Section 12 of the Exchange Act, such safe harbours set forth under
the Reform Act are unavailable to us.
RESULTS OF OPERATIONS
THREE MONTHS ENDED MARCH 31, 2014 COMPARED TO THE THREE MONTHS ENDED MARCH 31,
2013
REVENUE
We had no revenue for the three months ended March 31, 2014 and 2013 reflecting
our status as a development stage company.
OPERATING EXPENSES
We incurred operating expenses of $14,606 and $4,559 for the three months ended
March 31, 2014 and 2013, respectively. The increase in operating expenses
between the two periods related primarily to the increase in filing and transfer
agent fees.
NET LOSS
We incurred a net loss of $14,506 and $4,559 for the three months ended March
31, 2014 and 2013, respectively, due to the factors discussed above.
10
The following table provides selected financial data about our company for the
period ended March 31, 2014:
Balance Sheet Data: March 31, 2014
------------------- --------------
Cash $9,154
Total assets $9,154
Total liabilities $9,622
Shareholders' Deficit $ 468
Our auditors have expressed their doubt about our ability to continue as a going
concern unless we are able to generate profitable operations.
LIQUIDITY AND CAPITAL RESOURCES
These financial statements have been prepared on a going concern basis which
assumes the Company will be able to realize its assets and discharge its
liabilities in the normal course of business for the foreseeable future. The
Company has incurred losses since Inception resulting in an accumulated deficit
of $60,468 as at March 31, 2014 and further losses are anticipated in the
development of its business raising substantial doubt about the Company's
ability to continue as a going concern. The ability to continue as a going
concern is dependent upon the Company generating profitable operations in the
future and, or, obtaining the necessary financing to meet its obligations and
repay its liabilities arising from normal business operations when they come
due. Management intends to finance operating costs over the next twelve months
with existing cash on hand, loans from directors and, or, the private placement
of shares of the Company's common stock.
The following table provides selected financial data about our company for the
period ended March 31, 2014:
Balance Sheet Data: March 31, 2014
------------------- --------------
Cash $9,154
Total assets $9,154
Total liabilities $9,622
Shareholders' Deficit $ 468
Our auditors have expressed their doubt about our ability to continue as a going
concern unless we are able to generate profitable operations.
We currently have $9,154 cash in the bank which comprises our total assets.
Management believes that the current cash is sufficient to fund operations for
the next twelve months.
As of March 31, 2014, the Company had a loan outstanding with the Company's
shareholder in the amount of $9,622, ($9,000 principal and $622 accrued
interest). The loan bears an interest rate of 4%, due upon demand and unsecured.
11
We currently have no plans to hire additional employees in the next twelve
months unless sales are sufficient to cover the cost.
CASH FLOW INFORMATION FOR THE THREE MONTHS ENDED MARCH 31, 2014 COMPARED TO THE
THREE MONTHS ENDED MARCH 31, 2013
OPERATING ACTIVITIES
During the three months ended March 31, 2014 we used $14,606 in operating
activities compared to $4,559 in the three months ended March 31, 2013. The
increase between 2013 and 2014 primarily relates to the increase in net loss
between the two periods.
INVESTING ACTIVITIES
During the three months ended March 31, 2014 and 2013 we neither generated, nor
used, any funds firm investing activities.
FINANCING ACTIVITIES
During the three months ended March 31, 2014 we received $95 (2013 - $0) by way
of loan from a related party.
PLAN OF OPERATION
The milestones for the next twelve months are:
APRIL - JUNE 2014
Our PR representative is continuing to meet with physicians to procure first
time author opportunities. The company also assisted a concierge medical group
with some publishing opportunities. We met with another large medical group in
New York in the middle of March to talk about how we can assist them with
publishing opportunities for their new division which will require some
copywriting, publishing and media communications. If the above contract is
secured then this will assist the company with cash flow and give more exposure
to our copywriting and publishing experience. We are also proposing to assist
the medical community with copywriting for their on and offline domains to
create e-zines that are a few to 125 pages.
JULY - SEPTEMBER 2014
We will be doing research about upcoming book fairs. We need to also secure a
few vendor events that are low cost for us to be able to exhibit our services.
The month of August we will be on hiatus and there will be no operations
actively being pursued.
12
OCTOBER - DECEMBER 2014
We are going to be working on draft transcripts for the authors we secured in
June July and September. We will also be working with established authors to
assist them in promoting their publications via marketing communications
practices. This includes press releases and press tour management.
JANUARY - MARCH 2015
We hope to design and complete our Redstone app which will assist and give an
easy link for our authors and our services. We also will be securing PR
contracts for publishers and authors.
Our continued operations depend on literary trends. If our authors and literary
works are not trending topics publishing houses are looking for this could
adversely affect our business. The proper representation of trending and expert
authors important to our success and competitive position, and the inability to
continue to develop and offer such unique products to our customers could harm
our business. We cannot be certain that any author and his or her topic of
literature will be in demand. In addition, there are no assurances that our
future authors will be successful, and any unsuccessful literary representation
could adversely affect our business.
Competition in the literary industry is fierce. If we cannot successfully
compete, our business may be adversely affected. If we are able to establish our
business we will compete against a large number of well-established companies
with greater product and name recognition and with substantially greater
financial, marketing and distribution capabilities than ours, as well as against
a large number of small specialty producers. There can be no assurance that we
can compete successfully in this complex and changing market.
OFF-BALANCE SHEET ARRANGEMENTS
We have no off-balance sheet arrangements.
ITEM 3. QUANTATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
As a "smaller reporting company" as defined by Item 10 of Regulation S-K, the
Company is not required to provide information required by this Item.
ITEM 4. CONTROLS AND PROCEDURES
EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES
Management maintains "disclosure controls and procedures," as such term is
defined in Rule 13a-15(e) under the Securities Exchange Act of 1934 (the
"Exchange Act"), that are designed to ensure that information required to be
disclosed in our Exchange Act reports is recorded, processed, summarized and
reported within the time periods specified in the Securities and Exchange
Commission rules and forms, and that such information is accumulated and
communicated to management, including our Chief Executive Officer and Chief
Financial Officer, as appropriate, to allow timely decisions regarding required
disclosure.
13
In connection with the preparation of this quarterly report on Form 10-Q, an
evaluation was carried out by management, with the participation of the Chief
Executive Officer and the Chief Financial Officer, of the effectiveness of our
disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e)
under the Exchange Act) as of March 31, 2014.
Based on that evaluation, management concluded, as of the end of the period
covered by this report, that our disclosure controls and procedures were
effective in recording, processing, summarizing, and reporting information
required to be disclosed, within the time periods specified in the Securities
and Exchange Commission's rules and forms.
CHANGES IN INTERNAL CONTROLS OVER FINANCIAL REPORTING
As of the end of the period covered by this report, there have been no changes
in our internal controls over financial reporting during the quarter ended March
31, 2014, that materially affected, or are reasonably likely to materially
affect, our internal control over financial reporting subsequent to the date of
management's last evaluation.
14
PART II. OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
We were not subject to any legal proceedings during the three months ended March
31, 2014 or 2013 and, to the best of our knowledge; no legal proceedings are
pending or threatened.
ITEM 2. CHANGES IN SECURITIES
There were no changes in our securities in the three months ended March 31, 2014
or 2013.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
ITEM 5. OTHER INFORMATION
None.
ITEM 6. EXHIBITS
The following exhibits are included with this quarterly filing. Those marked
with an asterisk and required to be filed hereunder, are incorporated by
reference and can be found in their entirety in our Registration Statement on
Form S-1, filed under SEC File Number 333-173164, at the SEC website at
www.sec.gov:
Exhibit No. Description
----------- -----------
3.1 Articles of Incorporation*
3.2 Bylaws*
31.1 Certification pursuant to Rule 13a-14(a) under the Exchange Act
of 1934
31.2 Certification pursuant to Rule 13a-14(a) under the Exchange Act
of 1934
32.1 Certification pursuant to 18 U.S.C. Section 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2 Certification pursuant to 18 U.S.C. Section 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101 Interactive data files pursuant to Rule 405 of Regulation S-T
15
SIGNATURES
In accordance with the requirements of the Securities Exchange Act, the
registrant caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized, on May 20, 2014.
Redstone Literary, Inc., Registrant
By: /s/ Mary S. Wolf
-------------------------------------
Mary S. Wolf, Director, President,
Principal Executive Officer,
Principal Financial Officer and
Principal Accounting Officer
In accordance with the Exchange Act, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.
Redstone Literary, Inc., Registrant
May 20, 2014 By: /s/ Mary S. Wolf
-------------------------------------
Mary S. Wolf, Director, President,
Principal Executive Officer,
Principal Financial Officer and
Principal Accounting Officer
16