Florida
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47-0990750
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5047
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(State or Other Jurisdiction of
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IRS Employer
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Primary Standard Industrial
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Incorporation or Organization)
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Identification Number
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Classification Code Number
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1401 Market Street, PMB 309
San Diego, California 92101
Tel. (503) 308-9178
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||
(Address and telephone number of principal executive offices)
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Yes
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[X]
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No
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[ ]
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Yes
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[X]
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No
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[ ]
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Large accelerated filer
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[ ]
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Accelerated filer
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[ ]
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Non-accelerated filer
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[ ]
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Smaller reporting company
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[X]
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(Do not check if a smaller reporting company)
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Yes
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[ ]
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No
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[ X]
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As of October 19, 2016 the Registrant had 7,553,250,000 shares of common stock outstanding.
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Page
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Balance Sheets
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F-1
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Statements of Operations and Comprehensive loss
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F-2
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Statements of Cash Flows
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F-3
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Notes to Financial Statements
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F-4 to F-8
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Three Months Ended
September 30,
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Nine Months Ended
September 30,
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|||||||||||||||
2016
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2015
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2016
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2015
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|||||||||||||
Net sales
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$
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-
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$
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511
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$
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972
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$
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2,624
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||||||||
Cost of goods sold
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-
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(492
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)
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(620
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)
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(1,977
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)
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|||||||||
Gross profit
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-
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19
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352
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647
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||||||||||||
Selling, general and administrative expenses
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7,431
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5,494
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29,968
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106,629
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||||||||||||
Total operating expense
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7,431
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5,494
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29,968
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106,629
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||||||||||||
Income (loss) from operations
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(7,431
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)
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(5,475
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)
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(29,616
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)
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(105,982
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)
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||||||||
Interest expenses
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(131
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)
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-
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(324
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)
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-
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||||||||||
Net (loss)
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$
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(7,562
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)
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$
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(5,475
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)
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$
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(29,940
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)
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$
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(105,982
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)
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||||
Net (loss) per common shares (basic and diluted)
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$
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(0.00
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)
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$
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(0.00
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)
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$
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(0.00
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)
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$
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(0.00
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)
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||||
Weighted average shares outstanding - Basic and diluted
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7,553,250,000
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7,500,000,000
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7,526,971,950
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4,840,659,300
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||||||||||||
Nine Month Ended
September 30,
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||||||||
2016
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2015
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|||||||
Cash Flows From Operating Activities
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||||||||
Net loss
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$
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(29,940
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)
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$
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(105,982
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)
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||
Adjustments to reconcile net income to net cash provided from operating activities:
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||||||||
Shares issued for services
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-
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75,000
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||||||
Changes in operating assets and liabilities:
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||||||||
Deferred offering costs
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-
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(12,500
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)
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|||||
Accounts payable
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11,676
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20,558
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||||||
Accounts payable – related party
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(12,000
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)
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5,000
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|||||
Other receivable
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-
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(177
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)
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|||||
Net cash (used by) operating activities
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(30,264
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)
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(18,101
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)
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||||
Cash Flows From Financing Activities
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||||||||
Proceeds from private placement
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35,500
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-
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||||||
Convertible notes payable
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-
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19,480
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||||||
Repayment of promissory notes payable, related party
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(10,507
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)
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- | |||||
Promissory notes payable, related party
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8,011
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-
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||||||
Net cash provided from financing activities
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33,004
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19,480
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||||||
Increase (decrease) in cash and cash equivalents
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2,740
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1,379
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||||||
Cash and cash equivalents at beginning of period
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1,870
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364
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||||||
Cash and cash equivalents at end of period
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$
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4,610
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$
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1,743
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||||
Supplemental Disclosures of Cash Flow Information:
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||||||||
Cash paid (received) during year for:
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||||||||
Interest
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$
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193
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$
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-
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||||
Income taxes
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$
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-
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$
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-
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||||
1.
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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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-
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Set a series of preferred stock, each one share being convertible into one share of common stock and with no voting rights;
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-
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Set par value for each of the preferred and common stock at $0.001 per share.
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1.
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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont’d)
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2.
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GOING CONCERN
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3.
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DEFERRED OFFERING COSTS
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4.
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RESELLER AGREEMENT AND PROMISSORY NOTE
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5.
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COMMON AND PREFERRED STOCK
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6.
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RELATED PARTY TRANSACTIONS
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7.
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INCOME TAXES
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8.
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SUBSEQUENT EVENTS
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Exhibit Number
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Description
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3.1
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Articles of Incorporation of Vet Online Supply, Inc.
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3.2
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Bylaws of Vet Online Supply, Inc.
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3.3
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Amendment to Articles of Incorporation
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3.4
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Amendment to Articles of Incorporation to increase authorized common shares*
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10.1
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Management Agreement between the Company and Edward Aruda dated May 1, 2015
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10.2
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March 1, 2015 Consulting Engagement Separation Degrees-One, Inc.
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10.3
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Reseller Agreement with Concord Veterinary Supply
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10.4
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Convertible Promissory note between the Company and Concord Veterinary Supply dated June 1, 2014
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10.5
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Promissory Note between the Company and Edward Aruda dated June 30, 2016*
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31.1
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Certification of the Chief Executive Officer required under Rule 13a-14(a)/15d-14(a) of the Exchange Act*
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31.2
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Certification of the Chief Financial Officer required under Rule 13a-14(a)/15d-14(a) of the Exchange Act*
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32.1
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Certification of the Chief Executive Officer and Chief Financial Officer required under Section 1350 of the Exchange Act*
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101.INS
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XBRL Instance Document*
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101.SCH
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XBRL Taxonomy Extension Schema*
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101.CAL
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XBRL Taxonomy Extension Calculation Linkbase*
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101.DEF
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XBRL Taxonomy Extension Definition Linkbase*
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101.LAB
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XBRL Taxonomy Extension Label Linkbase*
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101.PRE
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XBRL Taxonomy Extension Presentation Linkbase*
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VET ONLINE SUPPLY, INC.
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|||
Date:
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October 20, 2016
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By:
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/s/ Edward Aruda
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Name:
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Edward Aruda
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Title:
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President, Chief Executive Officer, Chief Financial Officer, Director
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$ 3,240.00
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April 15, 2016
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BF Borgers – accounting fees
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$ 1,500.00
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April 28, 2016
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Bank deposit
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$ 500.00
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May 25, 2016
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Bank deposit
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$ 5,240.00
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Total
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1.
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I have reviewed this quarterly report on Form 10-Q of Vet Online Supply, Inc. (the “Company);
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2.
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Based on my knowledge, this 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 report;
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3.
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Based on my knowledge, the financial statements, and other financial information included in this 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 report;
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4.
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As the registrant’s certifying officer, 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 15-d-15 (f) for the registrant and I have:
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a)
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designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, 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 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 my 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 and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; 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 period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.
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5.
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As the registrant’s certifying officer, I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent function):
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a)
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all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; 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 control over financial reporting.
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Date: October 20, 2016
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By:
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/s/ Edward Aruda | |
Name: Edward Aruda | |||
Title: Principal Executive Officer | |||
1.
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I have reviewed this quarterly report on Form 10-Q of Vet Online Supply, Inc. (the “Company);
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2.
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Based on my knowledge, this 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 report;
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3.
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Based on my knowledge, the financial statements, and other financial information included in this 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 report;
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4.
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As the registrant’s certifying officer, 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 15-d-15 (f) for the registrant and I have:
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a)
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designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, 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 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 my 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 and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; 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 period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.
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5.
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As the registrant’s certifying officer, I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent function):
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a)
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all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; 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 control over financial reporting.
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Date: October 20, 2016
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By:
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/s/ Edward Aruda | |
Name: Edward Aruda | |||
Title: Principal Financial Officer | |||
/s/Edward Aruda | |
Edward Aruda
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Principal Executive Officer
Principal Financial Officer and Accounting Officer
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Date: October 20, 2016
|