U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-QSB (Mark One) [x] Quarterly Report under Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2007 - --------------------------------------------------------------------------- [ ] Transition Report under Section 13 or 15(d)of the Exchange Act For the Transition Period from ________ to ___________ - --------------------------------------------------------------------------- Commission File Number: 000-51224 - --------------------------------------------------------------------------- My Quote Zone, Inc. -------------------------------------------- (Name of small business issuer in its charter) Nevada 56-2504276 ---------------------------------- -------------------------- (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 6130 Elton Avenue, Las Vegas, NV 89107 ------------------------------------------------------------- (Address of principal executive officers, including Zip Code) 702-874-3131 ------------------------------------- (Issuer's Telephone Number) - -------------------------------------------------------------------------- Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act of 1934 during the past 12 months (or 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 [ ] No [X] APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS: Check whether the registrant filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court. Yes [X] No [ ] N/A APPLICABLE ONLY TO CORPORATE ISSUERS State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: As of July 12, 2007, the registrant's outstanding common stock consisted of 33,879,996 shares, $0.001 Par Value. Authorized - 70,000,000 common voting shares. No preferred shares issued, 5,000,000 authorized. Transitional Small Business Disclosure Format (Check one): Yes [ ] No [X] 1 PART I. FINANCIAL INFORMATION Item 1. Financial Statements.................................. 3 Independent Accountant's Review Report................ 4 Balance Sheet (unaudited)............................. 5 Statements of Operations (unaudited).................. 6 Statements of Cash Flows (unaudited).................. 7 Notes to Financial Statements......................... 8 Item 2. Management's Discussion and Analysis of Plan of Operation......................................... 10 Item 3. Controls and Procedures................................. 16 PART II. OTHER INFORMATION Item 1. Legal Proceedings..................................... 17 Item 2. Changes in Securities and Use of Proceeds............. 17 Item 3. Defaults upon Senior Securities....................... 17 Item 4. Submission of Matters to a Vote of Security Holders.................................. 17 Item 5. Other Information..................................... 17 Item 6. Exhibits and Reports on Form 8-K...................... 17 Signatures...................................................... 18 2 PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS AND EXHIBITS As prescribed by item 310 of Regulation S-B, the independent auditor has reviewed these unaudited interim financial statements of the registrant for the nine months ended June 30, 2007. The financial statements reflect all adjustments which are, in the opinion of management, necessary to a fair statement of the results for the interim period presented. The unaudited financial statements of registrant for the nine months ended June 30, 2007, follow. 3 MOORE & ASSOCIATES, CHARTERED ACCOUNTANTS AND ADVISORS PCAOB REGISTERED Report of Independent Registered Public Accounting Firm ------------------------------------------------------- My Quote Zone (A Development Stage Company) 6130 Elton Ave Las Vegas, NV 89107 We have reviewed the accompanying balance sheet of My Quote Zone Inc. (A Development Stage Company) as of June 30, 2007, and the related statements of income, retained earnings, and cash flows for the six months then ended, in accordance with the standards of the Public Company Accounting Oversight Board (United States). All information included in these financial statements is the representation of the management of My Quote Zone Inc. (A Development Stage Company). A review consists principally of inquiries of company personnel and analytical procedures applied to financial data. It is substantially less in scope than an audit in accordance with generally accepted auditing standards, the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion. Based on our review, we are not aware of any material modifications that should be made to the financial statements in order for them to be in conformity with generally accepted accounting principles. /s/ Moore & Associates, Chartered - --------------------------------- Moore & Associates, Chartered Las Vegas, Nevada July 12, 2007 2675 S. JONES BLVD. SUITE 109, LAS VEGAS, NEVADA 89146 (702) 253-7499 Fax: (702)253-7501 4 My Quote Zone, Inc. (Formerly Cornerstone Data Processing) (a Development Stage Company) Balance Sheets September 30, 2006 and June 30, 2007 Balance Sheets (unaudited) June 30, September 30, 2007 2006 --------- ------------ Assets Current assets: Cash $ 1,716 $ 7,427 --------- --------- Total current assets 1,716 7,427 --------- --------- $ 1,716 $ 7,427 ========= ========= Liabilities and Stockholders' Equity Stockholders' equity: Series A preferred stock, $0.001 par value, 2,000,000 shares authorized, no shares issued or outstanding - - Series B preferred stock, $0.001 par value, 2,000,000 shares authorized, no shares issued or outstanding - - Series C preferred stock, $0.001 par value, 1,000,000 shares authorized, no shares issued or outstanding - - Common stock, $0.001 par value, 70,000,000 shares authorized, 36,000,000, 30,000,000 shares issued and outstanding as of 6/30/2007 and 9/30/2006, respectively 36,000 36,000 Additional paid-in capital (21,000) (21,000) Earnings (Deficit) accumulated during development stage (13,284) (7,573) --------- --------- 1,716 7,427 --------- --------- $ 1,716 $ 7,427 ========= ========= The accompanying notes are an integral part of these financial statements. 5 My Quote Zone, Inc. (Formerly Cornerstone Data Processing) (a Development Stage Company) Statements of Operations For the three months ended June 30, 2006 and June 30, 2007 For the nine months ended June 30, 2006 and June 30, 2007 From December 24, 2003 (Inception) June 30, 2007 (Unaudited) Statements of Operations December 24, For the three months ended For the nine months ended 2003 June 30, June 30, (Inception) -------------------------- ------------------------ to June 30, 2007 2006 2007 2006 2007 ------------ ------------ ----------- ----------- ------------- Revenue $ 52,800 $ 38,016 $ 182,638 $ 103,502 $ 347,126 ------------ ------------ ----------- ----------- ------------- Expenses: Organizational and startup costs - - - - 530 General and administrative expenses 55,153 39,730 188,350 110,227 359,880 ------------ ------------ ----------- ----------- ------------- Total expenses 55,153 39,730 188,350 110,227 360,410 ------------ ------------ ----------- ----------- ------------- Net income (loss) (2,353) (1,714) $ (5,712) $ (6,725) $ (13,284) ============ ============ =========== =========== ============= Weighted average number of common shares outstanding - basic and fully diluted 36,000,000 36,000,000 36,000,000 36,000,000 ============ ============ =========== =========== Net income (loss) per share - basic and fully diluted $ (0.00) $ (0.00) $ (0.00) $ (0.00) ============ ============ =========== =========== The accompanying notes are an integral part of these financial statements. 6 My Quote Zone, Inc. (Formerly Cornerstone Data Processing) (a Development Stage Company) Statements of Cash Flows For the three months ended June 30, 2006 and June 30, 2007 For the nine months ended June 30, 2006 and June 30, 2007 From December 24, 2003 (Inception) June 30, 2007 (Unaudited) Statements of Cash Flows December 24, For the three For the nine 2003 months ended months ended (Inception) June 30, June 30, to June 30, 2007 2007 2007 ------------ ------------ ------------- Cash flows from operating activities: Net income (loss) $ (2,353) $ (5,712) $ (13,284) Stock issued for organizational costs 530 ------------ ------------ ------------- Net cash (used) provided by operating activities (2,353) (5,712) (12,754) Cash flows from financing activities: Issuances of common stock 12,000 Proceeds from subscriptions receivable 2,470 ------------ ------------ ------------- Net cash provided by financing activities - - 14,470 ------------ ------------ ------------- Net increase (decrease) in cash (2,353) (5,712) 1,716 Cash and equivalents- beginning 4,069 7,427 - ------------ ------------ ------------- Cash and equivalents- ending $ 1,716 $ 1,716 $ 1,716 ============ ============ ============= Supplemental disclosures: Interest paid $ - $ - $ - ============ ============ ============= Income taxes paid $ - $ - $ - ============ ============ ============= The accompanying notes are an integral part of these financial statements. 7 My Quote Zone, Inc. (Formerly Cornerstone Data Processing) (a Development Stage Company) Notes Note 1 - Basis of Presentation The interim financial statements included herein, presented in accordance with United States generally accepted accounting principles and stated in US dollars, have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. These statements reflect all adjustments, consisting of normal recurring adjustments, which, in the opinion of management, are necessary for fair presentation of the information contained therein. It is suggested that these consolidated interim financial statements be read in conjunction with the financial statements of the Company for the year ended September 30, 2006 and notes thereto included in the Company's 10-KSB Annual report. The Company follows the same accounting policies in the preparation of interim reports. Results of operations for the interim periods are not indicative of annual results. Note 2 - Going concern These consolidated financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. As at June 30, 2007, the Company has recognized $347,126 in revenues and has accumulated operating losses of approximately $(13,284) since inception. The Company's ability to continue as a going concern is contingent upon the successful completion of additional financing arrangements and its ability to achieve and maintain profitable operations. Management plans to raise equity capital to finance the operating and capital requirements of the Company. Amounts raised will be used to further development of the Company's products, to provide financing for marketing and promotion, to secure additional property and equipment, and for other working capital purposes. While the Company is expending its best efforts to achieve the above plans, there is no assurance that any such activity will generate funds that will be available for operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. These financial statements do not include any adjustments that might arise from this uncertainty. 8 My Quote Zone, Inc. (Formerly Cornerstone Data Processing) (a Development Stage Company) Notes Note 3 - Related party transactions The Company does not lease or rent any property. Office services are provided without charge by a director. 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. If a specific business opportunity becomes 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. Note 4 - Subsequent Event On July 11, 2007, the Company cancelled 2,120,004 common shares with its stock transfer agent. These shares will be returned to the corporate treasury. These shares were originally issued to shareholders in exchange for services and use of a software platform that the shareholders have taken back from the Company. 9 Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF PLAN OF OPERATIONS My Quote Zone, Inc. ("MQOZ" or "the Company") is a technology based Internet media and marketing firm that specializes in online lead generation. The Company develops comprehensive online advertising campaigns on behalf of its clients. This is accomplished by creating and hosting customized web pages and/or complete web properties to facilitate consumer transactions for specific products and/or services. MQOZ currently services the following industries: o Communications o Insurance o Accounting o Travel o Auto o Mortgage My Quote Zone Business - ---------------------- My Quote Zone, Inc. executes online lead generation programs for businesses who want to prospect new customers. The Company provides end-to-end marketing solutions to its clients, which include advertisers, direct marketers, lead brokers, and agencies, seeking to increase sales and customer contact through online marketing channels. Website development and prospect acquisition is managed by the Company's proprietary Lead Code software platform. This technology platform allows the Company to acquire, database and deliver prospects to clients in real-time. The platform also generates comprehensive detailed reporting on website activity which allows the Company to analyze the effectiveness of different campaigns, advertisements and promotions. This software tool helps management determine which campaigns are performing at an acceptable level for the Company. My Quote Zone lead generation programs create sales prospects in various industry categories. Some of these categories include - the wireless industry, the insurance industry, the travel industry, the auto industry and the mortgage industry. Leads are generated on company branded web pages. The Company also markets its product and service offerings utilizing its direct-to-consumer online financial portal. - www.MyQuoteZone.com 10 Recent Event - ------------ The Company issued a total of 2,120,004 shares of common stock to nine shareholders on March 9, 2006, in consideration of their services and use of their software platforms to the Registrant. Subsequent to the issuance of these shares, the Company reached a mutually agreeable understanding with these shareholders to return all of their 2,120,004 shares of common stock to the Company, and the Company has ceased using the software platforms and services of these shareholders. With the loss these software platforms, management expects the Company's operations will be impaired. These software platforms were responsible for enabling the Company to conduct its business operations. Unless the Company can replace these software platforms, management will be unable to conduct its regular business operations and expects to lose business. Management is seeking replacement software platforms, and is seeking other business opportunities. Therefore, management is currently assessing various business strategies. The analysis of new businesses opportunities and strategies will be undertaken by or under the supervision of Mark Theis, the Company's Director. In analyzing prospective businesses opportunities, Mr. Theis will consider, to the extent applicable, the available technical, financial and managerial resources of any given business venture. Management will also consider the nature of present and expected competition; potential advances in research and development; the potential for growth and expansion; the likelihood of sustaining a profit within given time frames; the perceived public recognition or acceptance of products, services, trade or service marks; name identification; and other relevant factors. The Company will analyze all relevant factors and make a determination based on a composite of available information, without reliance on any single factor. The period within which the Company will decide to participate in a given business venture cannot be predicted and will depend on certain factors, including the time involved in identifying business opportunities, the time required for the Company to complete its analysis of such business opportunities, the time required to prepare appropriate documentation and other circumstances. Management anticipates that the results of operations of a specific business venture may not necessarily be indicative of the potential for future earnings, which may be impacted by a change in marketing strategies, business expansion, modifying product emphasis, changing or substantially augmenting management, and other factors. 11 Going Concern - The Company experienced operating losses, of $(13,284) since its inception on December 24, 2003 through the period ended June 30, 2007. The financial statements have been prepared assuming the Company will continue to operate as a going concern, which contemplates the realization of assets and the settlement of liabilities in the normal course of business. No adjustment has been made to the recorded amount of assets or the recorded amount or classification of liabilities which would be required if the Company were unable to continue its operations. (See Financial Footnote 2) Management believes My Quote Zone has enough funds to operate for the next twelve (12) months without the need to raise additional capital to meet its obligations in the normal course of business. Results of Operations - --------------------- In its most recent three month operating period ended June 30, 2007, the Company generated $52,800 in revenues as compared to revenues of $38,016 for the same period last year. During the nine month operating period ended March 31, 2007, the Company generated $182,638 in revenues as compared to revenues of $103,502 for the same period last year. During the three months ended June 30, 2007, the Company experienced a net loss of $(2,353), as compared to net loss of $(1,714) for the same period last year. During the nine months ended June 30, 2007, the Company had a net loss of $(5,712), as compared to a net loss of $(6,725) for the same period last year. During the three months ended June 30, 2007, general and administrative expenses were $55,153 as compared to $39,730 for the same period last year. During the nine months ended June 30, 2007, general and administrative expenses were $188,350 as compared to $110,227 for the same period last year. The increase in general and administrative expense represented an expansion of the Company's business operations and an increase in the Company's customer base, which generated more revenues for the Company. Since the Company's inception on December 24, 2003, the Company experienced total revenues of $347,126 and a net loss of $(13,284). There can be no assurances that the Company can achieve or sustain profitability or that the Company's operating losses will not increase in the future. Plan of Operation - ----------------- MQOZ is a provider of sales leads and databases to businesses seeking to identify new prospects and grow their sales. MQOZ actively compiles and updates consumer and business databases. The Company has a wide spectrum of potential customers. These include individual salespeople, small/medium businesses, and Fortune 500 companies. 12 The Company has a limited operating history, upon which an evaluation of the Company, its current business and its prospects can be based, each of which must be considered in light of the risks, expenses and problems frequently encountered by all companies in the early stages of development, and particularly by such companies entering new areas of business. The Company's prospects must be considered in light of the risks, uncertainties, expenses and difficulties frequently encountered by companies in their early stages of a new business plan, particularly companies involved in the highly competitive Internet industry. Such risks include, without limitation, the ability of the Company to manage its operations, including the amount and timing of capital expenditures and other costs relating to the expansion of the company's operations, direct and indirect competitors of the Company, including those with greater financial, technical and marketing resources, the inability of the Company to attract, retain and motivate qualified personnel and general economic conditions. The Company has not demonstrated profitability to date, and the Company anticipates that it will continue to incur net losses for the foreseeable future. The extent of these losses will depend, in part, on the amount of expenditures the Company earmarks to execute its new business strategy. As of June 30, 2007, the Company had an accumulated deficit of $(13,284) Dollars) since its inception on December 24, 2003. Thus, the Company will need to generate increased revenues to achieve profitability. To the extent that increases in its operating expenses precede or are not subsequently followed by commensurate increases in revenues, or that the Company is unable to adjust operating expense levels accordingly, the Company's business, results of operations and financial condition would be materially and adversely affected. There can be no assurances that the Company can achieve or sustain profitability or that the Company's operating losses will not increase in the future. 13 Liquidity and Capital Resources - ------------------------------- As of June 30, 2007, the Company had $1,716 in current assets and no current liabilities. On December 26, 2003 (inception), the Company, at that time named Cornerstone Data Processing, Inc. issued 30,000,000 shares of its $0.001 par value common stock to its sole shareholder for cash. On or about September 14, 2005, My Quote Zone, a private company, purchased the original 30,000,000 founder's shares, for $8,000 cash, to take control of the Cornerstone Data Processing, business. The restricted shares were then apportioned on a pro-rata basis to the owners of this private company. On May 30, 2005, the Company issued 6,000,000 shares of its $0.001 par value common stock pursuant to a regulation 504 Regulation D offering. On September 30, 2006, the Company effected a 6-for-1 forward split of its $0.001 par value common stock. All references to common stock above are retroactively restated to reflect the forward split. On July 11, 2007, the Company cancelled 2,120,004 shares of common stock from nine shareholders. The shares were returned to the corporate treasury. There have been no other issuances of preferred or common stock. The Company has limited financial resources available, which has had an adverse impact on the Company's liquidity, activities and operations. These limitations have adversely affected the Company's ability to obtain certain projects and pursue additional business. There is no assurance that the proceeds of the Company will be able to raise sufficient funding to enhance the Company's financial resources sufficiently to generate volume for the Company. Market Information - ------------------ The common stock of the Company was cleared for trading the NASD OTC Bulletin Board on April 4, 2007. There has been limited trading to date in the Company's common stock, and there are no assurances that any trading market will develop. The Company's stock symbol is MQOZ. (a) There is currently no Common Stock which is subject to outstanding options or warrants to purchase, or securities convertible into, the Company's common stock. (b) The Company did not repurchase any of its shares during the quarter year covered by this report. 14 (ii) Holders - ------------ The approximate number of holders of record of common stock as of July 12, 2007 was approximately fifty-three (53). Dividends - --------- Holders of common stock are entitled to receive such dividends as the board of directors may from time to time declare out of funds legally available for the payment of dividends. No dividends have been paid on our common stock, and we do not anticipate paying any dividends on our common stock in the foreseeable future. Forward-Looking Statements - -------------------------- This Form 10-QSB includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included or incorporated by reference in this Form 10-QSB which address activities, events or developments which the Company expects or anticipates will or may occur in the future, including such things as future capital expenditures (including the amount and nature thereof), finding suitable merger or acquisition candidates, expansion and growth of the Company's business and operations, and other such matters are forward- looking statements. These statements are based on certain assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments as well as other factors it believes are appropriate in the circumstances. However, whether actual results or developments will conform with the Company's expectations and predictions is subject to a number of risks and uncertainties, general economic market and business conditions; the business opportunities (or lack thereof) that may be presented to and pursued by the Company; changes in laws or regulation; and other factors, most of which are beyond the control of the Company. This Form10-QSB contains statements that constitute "forward-looking statements." These forward-looking statements can be identified by the use of predictive, future-tense or forward-looking terminology, such as "believes," "anticipates," "expects," "estimates," "plans," "may," "will," or similar terms. These statements appear in a number of places in this Registration and include statements regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) trends affecting the Company's financial condition or results of operations for its limited history; (ii) the Company's business and growth strategies; and, (iii) the Company's financing plans. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties, and that 15 actual results may differ materially from those projected in the forward- looking statements as a result of various factors. Factors that could adversely affect actual results and performance include, among others, the Company's limited operating history, potential fluctuations in quarterly operating results and expenses, government regulation, technological change and competition. Consequently, all of the forward-looking statements made in this Form 10-QSB are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by the Company will be realized or, even if substantially realized, that they will have the expected consequence to or effects on the Company or its business or operations. The Company assumes no obligations to update any such forward-looking statements. Item 3. Controls and Procedures As of the end of the period covered by this report, the Company conducted an evaluation, under the supervision and with the participation of the principal executive officer and principal financial officer, of the Company's disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 (the "Exchange Act")). Based on this evaluation, the principal executive officer and principal financial officer concluded that the Company's disclosure controls and procedures are effective to ensure that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in Securities and Exchange Commission rules and forms. There was no change in the Company's internal control over financial reporting during the Company's most recently completed fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Company's internal control over financial reporting. 16 PART II OTHER INFORMATION ITEM 1. Legal Proceedings The Company is not a party to any legal proceedings. ITEM 2. Changes in Securities and Use of Proceeds On July 11, 2007, the Registrant cancelled 2,120,004 of its outstanding common shares. These shares were originally issued to nine shareholders on March 9, 2006, in consideration of their services and use of their software platforms to the Registrant. Subsequent to the issuance of these shares, the Company reached a mutually agreeable understanding with the these shareholders to return all of their 2,120,004 shares of common stock to the Company, and the Company has ceased using the software platforms and services of these shareholders. 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 a) Exhibits Exhibit Number Title of Document ---------------------------------------------------------------- 31.1 Certifications of the President pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 32.1 Certifications of President pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. 17 b) Reports on Form 8-K No Current Reports on Form 8-K were filed during the Quarter ending June 30, 2007. Subsequent Report on Form 8-K - ----------------------------- The Company filed a Current Report on July 12, 2007, pursuant to Item 1.02 ("Termination of a Material Definitive Agreement") and Item 5.02 ("Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers"). SIGNATURES 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 hereunto duly authorized. My Quote Zone, Inc. ------------------- Registrant By: /s/ Mark Theis --------------------- Name: Mark Theis Title: Director Acting President Dated: July 12, 2007 ------------- 18