For those who cannot read...
Item Vll The nature and extent of the Corporation<s facilities
For now our corporation has a contract which gives it access for all the production from Iroquois Water inc. for the next five years – their capacity is 7 million cases of 24 bottles of 500mL of Canadian Premium Spring Water a year. (EXCELLENT!! 7mil cases ready to ship)
Read..Those of you who don't know about contracts internationally..a letter of credit is not needed to consumate a contract (you don't import/export product without one-you will give away all your product) A contract was signed but was turned down as the company did not receive a letter of credit..It is a good thing that AQUI did this!
From October Financials
Financial information since the foundation of Aquagold Canada
Aquagold Canada was incorporated in July 2006 under Canadian laws and has been active until it was sold to Aquagold USA in 2007; this corporation was then merged into Omninet Media.com Inc and became AQUAGOLD INTERNATIONAL INC, a Nevada corporation.
From its creation up to December 31, 2006 Aquagold has been subsidized by an injection of funds in the amount of $55,000 by Mr. Daniel SAUVÉ. That money has served to pay for numerous trips to China by Mr. Horace SIROIS, President and CEO of WBDB Inc (World Business Development Bureau) Mr. Sirois has succeeded in making some contacts with business people in China and came back with a contract for the distribution of 65 million cases of bottled spring water in China but the distributor never came up with the proper letter of credit required and finally, early in 2007, Mr. Sirois was let go and his contract abandoned. (DID NOT DO WHAT WAS NECESSARY TO ENSURE PAYMENT AND LOST HIS JOB BECAUSE OF IT..SPENT MONEY AND SHOWED NOTHING)
Nevertheless these first steps were necessary, if only to know what not to do. One will know that very powerful companies have spent hundreds of thousands of dollars to enter the Chinese market and never succeeded; the price AQUAGOLD paid was a very small price indeed…
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Item XVll Management discussion and Analysis or Plan of Operation
A. Plan of Operation.
1. AQUAGOLD is now in a position to reap from its actions:
i. With all the contacts made in China, sometimes with very important official of the government, AQUAGOLD is about to get some very important contracts with proper letter of credit attached to it so that very little additional financing will be required to operate
ii. On the other hand, for the next year, AQUAGOLD will need to raise capital in order to research and develop new products, be it biodegradable bottles or better water for our customers.
iii. We expect to find new sources and make acquisitions of bottling plants as the demand grows. This will require capital injection of tens of million of dollars possibly raised through issuance of shares or through profits and/or new investments.
iv. As we develop, we can expect new employees in the bottling plants for double and even triple shifts, in the sales office and finally in administration
C. Off-Balance sheet Arrangements.
The Corporation does not have any for the moment.
Item XVlll Material Contracts
A. The company has letters of intent that do not constitute a contract in the usual sense of the word. Therefore the contract announced before reflected only the intent and the possible volume to attain in the next 5 years. We still believe that we will reach our goal.
The reader will be advised that at this moment an executable contract is being signed following the letter of intent mentioned earlier and that it will be posted immediately following the signature. We like to believe that it will be the first of many.
B. No contracts have been signed yet with the directors or the officers of the company; although we will be singing contract with the principal directors soon with the intent of offering share options or substantial bonuses for performance. These contracts will be announced in the next quarterly report.
mo
BD
AI
