Nevada
|
98-0347883
|
|
(State of other jurisdiction of incorporation or organization)
|
(I.R.S. Employer Identification No.)
|
Title of each class
|
Name of each exchange on which registered
|
|
COMMON STOCK
|
OTC-BB
|
Large accelerated filer
|
o |
Accelerated filer
|
o | |
Non-accelerated filer
|
o |
(Do not check if a smaller reporting company)
|
Smaller reporting company
|
þ
|
Reference
|
Section Name
|
Page
|
||
PART I
|
1
|
|||
Item 1.
|
Business
|
1
|
||
Item 1A.
|
Risk Factors
|
3
|
||
Item 1B.
|
Unresolved Staff Comments
|
5
|
||
Item 2.
|
Properties
|
5
|
||
Item 3.
|
Legal Proceedings
|
5
|
||
Item 4.
|
Mine Safety Disclosures
|
5
|
||
PART II
|
5
|
|||
Item 5.
|
Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities
|
5
|
||
Item 6.
|
Selected Financial Data
|
6
|
||
Item 7.
|
Management's Discussion and Analysis of Financial Condition and Results of Operations
|
6
|
||
Item 7A.
|
Quantitative and Qualitative Disclosures about Market Risk
|
6
|
||
Item 8.
|
Financial Statements and Supplementary Data
|
7
|
||
Report of Independent Registered Public Accounting Firm
|
7
|
|||
Consolidated Balance Sheets
|
8
|
|||
Consolidated Statements of Operations
|
9
|
|||
Consolidated Statements of Changes in Stockholders’ Equity
|
10
|
|||
Consolidated Statements of Cash Flows
|
11
|
|||
Notes to Consolidated Financial Statements
|
12
|
|||
Item 9.
|
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
|
16
|
||
Item 9A.
|
Controls and Procedures
|
16
|
||
Item 9B.
|
Other Information
|
16
|
||
PART III
|
17 | |||
Item 10.
|
Directors, Executive Officers and Corporate Governance
|
17
|
||
Item 11.
|
Executive Compensation
|
17
|
||
Item 12.
|
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
|
18
|
||
Item 13.
|
Certain Relationships and Related Transactions, and Director Independence
|
19
|
||
Item 14.
|
Principal Accounting Fees and Services
|
19
|
||
PART IV
|
||||
Item 15.
|
Exhibits and Financial Statement Schedules
|
20
|
||
Signatures
|
21
|
Quarter Ended
|
Mar. 31
|
Jun. 30
|
Sep. 30
|
Dec. 31
|
Year
|
|||||||||||||||
Fiscal Year 2013
|
||||||||||||||||||||
Common stock price per share:
|
||||||||||||||||||||
High
|
$
|
0.03
|
$
|
0.03
|
$
|
0.03
|
$
|
0.25
|
$
|
0.25
|
||||||||||
Low
|
$
|
0.02
|
$
|
0.03
|
$
|
0.03
|
$
|
0.03
|
$
|
0.02
|
||||||||||
Fiscal Year 2012
|
||||||||||||||||||||
Common stock price per share
|
||||||||||||||||||||
High
|
$
|
0.03
|
$
|
0.03
|
$
|
0.03
|
$
|
0.03
|
$
|
0.03
|
||||||||||
Low
|
$
|
0.03
|
$
|
0.03
|
$
|
0.03
|
$
|
0.03
|
$
|
0.03
|
Plan category
|
Number of securities
to be issued upon
exercise of outstanding
options, warrants
and rights
(a)
|
Weighted-average
exercise price of
outstanding options,
warrants and rights
(b)
|
Number of
securities remaining
available for future
issuance under equity compensation plans
(excluding securities
reflected in column (a))
(c)
|
|||||||||
Equity compensation plans approved by security holders
|
-0-
|
-0-
|
-0-
|
|||||||||
Equity compensation plans not approved by security holders
|
-0-
|
-0-
|
-0-
|
|||||||||
Total
|
-0-
|
-0-
|
-0-
|
2013
|
2012
|
January 1,
2009
(Date of
Commencement
of Development
Stage) To
December 31,
2013
|
||||||||||
Expenses
|
$
|
145,729
|
$
|
156,670
|
$
|
1,102,095
|
||||||
Operating loss
|
(145,729
|
)
|
(156,670
|
)
|
(1,102,095
|
)
|
||||||
|
||||||||||||
Other Income:
|
||||||||||||
Other income
|
388
|
-
|
388
|
|||||||||
Interest income
|
-
|
28
|
13,107
|
|||||||||
Debt forgiveness
|
-
|
13,781
|
13,781
|
|||||||||
Net loss
|
(145,341
|
)
|
(142,861
|
)
|
(1,074,819
|
)
|
||||||
Net loss attributable to noncontrolling interest
|
620
|
120
|
12,203
|
|||||||||
Net loss attributable to
|
||||||||||||
Amanasu Environment Corporation
|
(144,721
|
)
|
(142,741
|
)
|
(1,062,616
|
)
|
||||||
Other Comprehensive Income -
|
||||||||||||
Gain on foreign exchange conversion
|
1,838
|
708
|
11,057
|
|||||||||
Total comprehensive loss
|
(142,883
|
) |
(142,033
|
) |
(1,051,559
|
) | ||||||
Net loss per share – basic and diluted
|
- | - | ||||||||||
Average number of shares outstanding
|
44,031,227
|
44,000,816
|
Deficit
|
||||||||||||||||||||||||||||||||
Accumulated
|
Accumulated
|
|||||||||||||||||||||||||||||||
Additional
|
Prior To
|
Other
|
||||||||||||||||||||||||||||||
Common Stock
|
Paid In
|
Accumulated
|
Development
|
Comprehensive
|
Noncontrolling
|
|||||||||||||||||||||||||||
Shares
|
Amount
|
Capital
|
Deficit
|
Stage
|
Income
|
Interest
|
Total
|
|||||||||||||||||||||||||
Balance December 31, 2008
|
44.000,816
|
$
|
44,001
|
$
|
4,634,223
|
$
|
( 3,879,122
|
)
|
$
|
1,130
|
$
|
5,328
|
$
|
805,560
|
||||||||||||||||||
Net loss for year
|
$
|
(261,533
|
)
|
( 8,856
|
)
|
(270,389
|
)
|
|||||||||||||||||||||||||
Transfer on sale of subsidiary
|
59,429
|
6,232
|
623
|
66,284
|
||||||||||||||||||||||||||||
Other comprehensive income
|
( 7,710
|
)
|
5,943
|
( 1,767
|
)
|
|||||||||||||||||||||||||||
Balance, December 31, 2009
|
44,000,816
|
$
|
44,001
|
$
|
4,693,652
|
$
|
(261,533
|
)
|
$
|
(3,879,122
|
)
|
$
|
(348
|
)
|
$
|
3,038
|
$
|
599,688
|
||||||||||||||
Net loss for year
|
(327,066
|
)
|
( 626
|
)
|
(327,692
|
)
|
||||||||||||||||||||||||||
Other comprehensive income
|
2,103
|
2,103
|
||||||||||||||||||||||||||||||
Balance, December 31, 2010
|
44,000,816
|
44,001
|
4,693,652
|
(588,599
|
)
|
(3,879,122
|
)
|
1,755
|
2,412
|
274,099
|
||||||||||||||||||||||
Net loss for year
|
(186,555
|
)
|
( 1,982
|
)
|
(188,537
|
)
|
||||||||||||||||||||||||||
Other comprehensive income
|
175
|
175
|
||||||||||||||||||||||||||||||
Balance December 31, 2011
|
44,000,816
|
44,001
|
4,693,652
|
( 775,154
|
)
|
( 3,879,122
|
)
|
1,930
|
430
|
85,737
|
||||||||||||||||||||||
Net loss for year
|
(142,741
|
)
|
(120
|
)
|
(142,861
|
)
|
||||||||||||||||||||||||||
Other comprehensive income
|
708
|
708
|
||||||||||||||||||||||||||||||
Balance December 31, 2012
|
44,000,816
|
44,001
|
4,693,652
|
(917,895
|
)
|
(3,879,122
|
)
|
2,638
|
310
|
(56,416
|
)
|
|||||||||||||||||||||
Net loss for year
|
(144,721
|
)
|
(620
|
)
|
(145,341
|
)
|
||||||||||||||||||||||||||
Stock issued
|
100,000
|
100
|
99,900
|
100,000
|
||||||||||||||||||||||||||||
Other comprehensive income
|
1,838
|
1,838
|
||||||||||||||||||||||||||||||
Balance December 31, 2013
|
44,100,816
|
$
|
44,101
|
$
|
4,793,552
|
$
|
(1,062,616
|
)
|
$
|
(3,879,122
|
)
|
$
|
4,476
|
$
|
(310
|
)
|
$
|
(99,919
|
)
|
|||||||||||||
2013
|
2012
|
January 1,
2009
(Date of
Commencement
of Development
Stage) To
December 31,
2013
|
||||||||||
CASH FLOWS FROM OPERATIONS
|
||||||||||||
Net loss
|
$
|
(145,341
|
)
|
$
|
(142,861
|
)
|
$
|
(1,074,819
|
)
|
|||
Adjustments to reconcile net loss to net cash consumed by operating activities:
|
||||||||||||
Charges and credits not involving use of cash:
|
||||||||||||
Depreciation and amortization
|
-
|
749
|
6,074
|
|||||||||
Cancellation of debts
|
-
|
|
(13,781
|
)
|
(13,781
|
)
|
||||||
Bad debt expense
|
-
|
2,900
|
138,931
|
|||||||||
Changes in current assets and liabilities:
|
||||||||||||
Increase (decrease) in accounts payable and accrued liabilities
|
(12,417
|
)
|
48,185
|
43,694
|
||||||||
Increase in taxes payable
|
6,200
|
7,678
|
33,468
|
|||||||||
Decrease in employee loans
|
-
|
-
|
(2,900
|
)
|
||||||||
Net Cash Consumed By Operating Activities
|
(151,558
|
)
|
(97,130
|
)
|
(869,333
|
)
|
||||||
CASH FLOWS FROM INVESTING ACTIVITIES
|
||||||||||||
Proceeds from redemptions of certificates of deposit
|
3,000
|
28,000
|
695,000
|
|||||||||
Repayment of advances to officer
|
-
|
53,260
|
53,260
|
|||||||||
Officer loans
|
-
|
-
|
(68,635
|
)
|
||||||||
Cash transferred on sale of subsidiary
|
-
|
-
|
(270
|
)
|
||||||||
Net Cash Provided By Investing Activities
|
3,000
|
81,260
|
679,355
|
|||||||||
CASH FLOWS FROM FINANCING ACTIVITIES
|
||||||||||||
Shareholder loans
|
50,000
|
-
|
50,000
|
|||||||||
Repayment from shareholder loans
|
-
|
10,273
|
21,870
|
|||||||||
Sale of capital stock
|
100,000
|
-
|
100,000
|
|||||||||
Short term loans
|
-
|
-
|
14,212
|
|||||||||
Advances from affiliate
|
6,800
|
-
|
7,975
|
|||||||||
Net Cash Provided (Consumed) By Financing Activities
|
156,800
|
10,273
|
|
194,057
|
||||||||
Effect on Cash of Exchange Rate Changes
|
-
|
4
|
180
|
|||||||||
Net Change in Cash Balance
|
8,242
|
(5,593
|
)
|
4,259
|
||||||||
Balance, beginning of period
|
3,600
|
9,193
|
7,583
|
|||||||||
Balance, end of period
|
$
|
11,842
|
$
|
3,600
|
$
|
11,842
|
U.S.
|
JAPAN
|
|||||||
Deferred Tax Assets
|
$
|
1,127,189
|
$
|
171,219
|
||||
Valuation Allowance
|
(1,127,189
|
)
|
(171,219
|
)
|
||||
Balance Recognized
|
$
|
-
|
$
|
-
|
U.S.
|
JAPAN
|
|||||||
2014
|
$
|
-
|
$
|
240,805
|
||||
2015
|
-
|
290,197
|
||||||
2016
|
-
|
97,415
|
||||||
2017
|
-
|
6,888
|
||||||
2018
|
-
|
21,804
|
||||||
2019
|
2,703
|
1,322
|
||||||
2020
|
51,086
|
6,200
|
||||||
2021
|
224,737
|
-
|
||||||
2022
|
73,550
|
-
|
||||||
2023
|
110,126
|
-
|
||||||
2024
|
107,443
|
-
|
||||||
2025
|
598,417
|
-
|
||||||
2026
|
332,988
|
-
|
||||||
2027
|
553,371
|
-
|
||||||
2028
|
363,595
|
-
|
||||||
2029
|
135,200
|
-
|
||||||
2030
|
320,802
|
-
|
||||||
2031
|
166,733
|
-
|
||||||
2032
|
141,835
|
-
|
||||||
2033
|
132,676
|
-
|
2013
|
2012
|
|||||||
Auto, travel and entertainment
|
$ | 36,224 | $ | 41,383 | ||||
Consultant
|
20,000 | 20,000 | ||||||
Rent
|
33,096 | 41,126 | ||||||
Utilities
|
3,606 | 3,963 | ||||||
Office and miscellaneous
|
15,302 | 13,258 | ||||||
Professional fees
|
23,333 | 24,560 | ||||||
Tax and duties
|
6,200 | 7,579 | ||||||
Corporate and filing fees
|
7,968 | 4,801 | ||||||
Total expenses
|
$ | 145,729 | $ | 156,670 |
Name
|
Age
|
Since
|
Position
|
||||
Atsushi Maki
|
64 | 1999 |
Chairman & Chief Executive Officert
|
||||
Lina Lei
|
51 | 1999 |
Secretary
|
Annual Compensation
|
||||||||||||||
Name and Principle Position
|
Year
|
Salary ($)
|
Bonus ($)
|
Other ($)
|
||||||||||
Atsushi Maki (Chairman, President)
|
2013
|
-0-
|
-0-
|
-0-
|
||||||||||
2012
|
-0-
|
-0-
|
-0-
|
|||||||||||
Lina Lei (Secretary, Treasurer)
|
2013
|
-0-
|
-0-
|
20,000
|
||||||||||
|
2012
|
-0-
|
-0-
|
20,000
|
Title of Security
|
Name and Address of Beneficial Owner
|
Amount and
Nature of
Beneficial Ownership
(1)
|
Percent of Class
|
|||||||
Common Stock
|
Amanasu Corporation (2) #902 Ark Towers 1-3-40 Roppongi Minato-ku Tokyo Japan
|
33,000,000
|
74.9
|
%
|
||||||
Common Stock
|
Atsushi Maki (3) (4)
|
35,858,500
|
87.5
|
%
|
||||||
Common Stock
|
Lina Lei (4)
|
35,858,500
|
87.5
|
%
|
||||||
Common Stock
|
Officers and Directors, as a group (2 persons)
|
35,858,500
|
87.5
|
%
|
1. Audit Fees paid to Jeffrey & Company, during 2013 and 2012 were $12,920.00 and $12,679.00 respectively.
|
|
2. Audit Related Fees during 2013 and 2012 were $9,763.00 and $11,206.00 respectively.
|
3. Caption Tax Fees during 2013 and 2012 were $650.00 and $675.00 respectively.
|
|
4. All Other Fees during 2013 and 2012 were $-0- and $-0- respectively.
|
5. N/A
|
|
6. Not greater than 50% for 2013 and 2012..
|
3(i)(a)
|
Articles of Incorporation of the Company (Incorporated by reference to the Company's Form 10-SB filed on June 20, 2001).
|
|
3(i)(b)
|
Certificate of Amendment to Articles of Incorporation(Incorporated by reference to the Company's Form 10-SB filed on June 20, 2001).
|
|
3(i)(c)
|
Certificate of Amendment to Articles of Incorporation (Incorporated by reference to the Company's Form 10-KSB filed on March 31, 2003).
|
|
3(ii)(a)
|
Amended and Restated By - Laws of the Company (Incorporated by reference to the Company's Form 10-SB filed on June 20, 2001).
|
|
10(i)
|
Agreement between Family Corporation and the Company dated December 15, 1999. (Incorporated by reference to the Company's Form 10-SB filed on June 20, 2001).
|
|
10(ii)
|
License agreement between the Company and Masaichi Kikuchi dated June 8, 2000. (Incorporated by reference to the Company's Form 10-SB filed on June 20,2001).
|
|
10(iii)
|
Technical Consulting Agreement the Company and Masaichi Kikuchi dated June 9, 2001. (Incorporated by reference to the Company's Form 10-SB filed on June 20, 2001).
|
|
10(iv)
|
Amendment No. 1 to Licensing Agreement dated July 30, 2001, however, effective June 8, 2000 by and between the Company and Masaichi Kikuchi. (Incorporated by reference to the Company's Form 10-SB/A filed on August 9, 2001).
|
|
10(v)
|
License Agreement made as of September 30, 2002 by and between the Company and Sanyo Kogyo Kabushiki Gaisha and Ever Green Planet Corporation. (Incorporated by reference to the Company's Form 10-KSB filed on March 31, 2003).
|
|
10(vi)
|
Addendum to License Agreement made as of September 30, 2002 by and between the Company and Sanyo Kogyo Kabushiki Gaisha and Ever Green Planet Corporation. (Incorporated by reference to the Company's Form 10-KSB filed on March 31, 2003).
|
|
10(vii)
|
Stock Purchase Agreement dated May 14, 2003 by and between the Company and Jipangu, Inc.
|
|
10(viii)
|
Desalination License Agreement made as of May 30, 2003 by and between the Company Etsuro Sakagami. (Incorporated by reference to the Company's Form 10-QSB filed on August 13, 2003).
|
|
Certification under Section 906 of the Sarbanes-Oxley Act.
|
||
Certification under Section 906 of the Sarbanes-Oxley Act.
|
||
101 INS
|
XBRL Instance Document*
|
|
101 SCH
|
XBRL Schema Document*
|
|
101 CAL
|
XBRL Calculation Linkbase Document*
|
|
101 DEF
|
XBRL Definition Linkbase Document*
|
|
101 LAB
|
XBRL Labels Linkbase Document*
|
|
101 PRE
|
XBRL Presentation Linkbase Document*
|
Amanasu Environment Corporation
|
|||
|
By:
|
/s/ Atsushi Maki | |
Atsushi Maki
|
|||
Chairman & Chief Executive Officer
|
|||
Chief Financial Officer
|
|||
April 4, 2014
|
/s/ Atsushi Maki | |||
Atsushi Maki
|
|||
Director
|
|||
April 4, 2014
|
1.
|
I have reviewed this annual report on Form 10-K of Amanasu Environment Corporation;
|
2.
|
Based on my knowledge, this annual report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this annual report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this annual report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this annual report;
|
4.
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I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
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a.
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designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this annual report is being prepared;
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b.
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designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
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c.
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evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this annual report (the "Evaluation Date"); and
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d.
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disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonable likely to material affect, the registrant's internal control over financial reporting; and
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5.
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I have disclosed, based on our most recent evaluation, to the registrant's auditors and the registrant's board of directors:
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a.
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all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize and report financial data and have identified for the registrant's auditors any material weaknesses in internal controls; and
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b.
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any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and
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6.
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I have indicated in this annual report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.
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