Equity Technologies & Resources (fka ETCR)

[flaflyersfan]

ETCR 10QSB filed;

http://www.sec.gov/Archives/edgar/data/830741/000116415006000186/etcr_10qsb-06302006.txt

CURRENT ASSETS:
Cash $ 698
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Total current assets 698
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TOTAL ASSETS $ 698
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LIABILITIES AND STOCKHOLDERS' DEFICIENCY

CURRENT LIABILITIES:
Accounts payable $ 190,056
Accounts payable - related parties 410,754
Dividends payable 33,750
Accrued salaries 401,200
Accrued expenses 254,736
Accrued interest 344,827
Notes payable 38,400
Notes payable, current portion - related parties 1,002,454
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Total current liabilities 2,676,177
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Total liabilities 2,676,177


Financial Position

The Company had $698 in cash as of June 30, 2006 and no other assets. The
Company's liabilities were $2,676,177 and it had a working capital deficit of
($2,675,479). During the three months ended June 30, 2006 the Company had no
revenues and it had no revenues for the comparable period from the prior year.
During the six months ended June 30, 2006, the Company had general and
administrative expenses of $97,038 and interest expenses of $50,487, and net
losses of $147,525, compared to general and administrative expenses of $72,682
and interest expenses of $42,472, and net losses of $98,487, for the comparable
period from the prior year.

The Company does not have sufficient funds to execute its business plan or
pay its current liabilities. There is no assurance that the Company will be
successful in developing its electronic system to provide solutions for the
prescription drug and healthcare industry or the Veriscrip(TM) System.

$698 in cash left after various "donations" by parties, an undeveloped/ non patented/ product that doesn't belong to them anymore, and $millions in liabilities and stock owed with no way to repay it.

Said all that 3 years ago.

Good luck.