orm 10-Q for BANX & GREEN GROUP, INC.
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21-Nov-2008
Quarterly Report
Item 2. Management's Discussion and Analysis
The following discussion and analysis should be read in conjunction with our financial statements and the accompanying notes. The following discussion and analysis contains forward-looking statements, which involve risks and uncertainties in the forward-looking statements. These forward-looking statements may be impacted, either positively or negatively, by various factors.
Our actual results may differ significantly from the results, expectations and plans discussed. This Report contains "forward looking statements" relating to our company's current expectations and beliefs. These include statements concerning operations, performance, financial condition, anticipated acquisitions and anticipated growth.
Without limiting the generality of the foregoing, words such as "may", "will", "would", "expect", "believe", "anticipate", "intend", "could", "estimate", or "continue", or the negative or other variation thereof or comparable terminology are intended to identify forward-looking statements. These statements by their nature involve substantial risks and uncertainties which are beyond our company's control. Should one or more of these risks or uncertainties materialize or should our company's underlying assumptions prove incorrect, actual outcomes and results could differ materially from those indicated in the forward-looking statements.
General
Management is formulating the basis for acquisitions to complete its previously announced business plan. Additional opportunities have arisen that may allow the Company to expand the scope of business operations and more readily allow it to acquire the capital it requires.
Results of Operations
The Company disposed of its Canadian operations on 1/2/2008 and purchased LGN Entertainment Distributors, Inc. on 2/5/2008. Financial statements have been adjusted for the disposal in the column Inception through March 31, 2008 on the Condensed Statements of Operations and Condensed Statements of Cash Flow.
General and administrative expenses decreased for the three months ended March 31, 2008 compared to the same periods in 2006. These expenses were $21,382 for the three months ended March 31, 2008 and $44,207 for the same period in 2007. The decrease for the three months ended March 31, 2008 over the same period in 2007 came primarily from a decrease in wages of $12,500 and the change in businesses for the reporting period.
For the three months ended March 31, 2008 we recorded a net loss of $13,088 compared with a net loss of $43,137 during the corresponding prior period in 2007. The Company is still in the developmental stage and is expected to continue to have losses until operational businesses improve through marketing.
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BANX AND GREEN GROUP, INC.
Notes to Condensed Financial Statements
Liquidity
During the three months ended March 31, 2008, the Company's working capital decreased by the accruals of all expenses offset by $21,046 in gross profit from sales. The Company does not currently have sufficient capital in its accounts, nor sufficient firm commitments for capital to assure its ability to meet its current obligations or to continue its planned operations. The Company is continuing to pursue working capital and additional revenue through the active search for the capital it needs to carry on its planned operations. There is no assurance that any planned activities will be successful.
Capital Resources
As a result of its limited liquidity, the Company has limited access to additional capital resources. The Company does not have the capital to totally fund the obligations that have matured to any of its creditors and shareholders.
Though the obtaining of the additional capital is not guaranteed, the management of the Company believes it will be able to obtain the capital required to meet its current obligations and actively pursue its planned business activities through the sale of its registered securities.
Operations
The operations of the Company are currently dormant. Until the Company obtains the capital required to develop any properties or businesses and obtains the revenues needed from its future operations in order to meet its obligations, the Company will be dependent upon sources other than operating revenues to meet its operating and capital needs.
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