This is from ACOE (formerly named Startale Group) 10-Q signed by Bill Akrivos May 14.
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
Plan of Operation
We have discontinued our packaging design for outerwear and underwear. Our current plan of operations is to pursue a variety of oil and gas interests in the State of Tennessee. The Company currently proposed to develop such projects by immediately acquiring oil and gas leases.
The Company’s currently proposed general business plan contemplates our business by purchasing interests in oil and gas exploration and production ventures, with additional such purchases planned for the future as financing and revenues allow.
Overall, during the next 12 months, we can not predict accurately the amount of capital that we will need to accomplish our plan of operations. The amount of capital needed will vary depending on the business model approach that we undertake as described above. If during the next 12 months, we are unsuccessful in effectuating our plan of operations as described above, we expect to incur total expenditures of at least $500,000. In this regard and during such period; we anticipate spending $20,000 on professional fees attributable to fulfilling our reporting obligations under the federals securities laws and $50,000 on general administrative costs and expenditures associated with complying with reporting obligations. The balance will be used to buy interests in oil and gas leases. We anticipate that additional funding will be required in the form of equity financing from the sale of our common stock. However, we cannot provide investors with any assurance that we will be able to raise sufficient funding from the sale of our common stock to fund our marketing plan and operations. We believe that debt financing will not be an alternative for funding the marketing plan. We do not have any arrangements in place for any future equity financing. If we are required to raise additional funds, substantial dilution may result to existing shareholders. Our auditor’s have raised substantial doubt concerning our ability to continue as a going concern. Please see our audited financial statements contained in our Form 10-K for the period ended June 30, 2007.
I think based on this ACOE will remain a seperate venture for Bill Akrivos who probably got the position as more of a consultant. Both companies are located in the same city in Ontario.
I just like to know a sheep is a sheep and a wolf is a wolf without having to take its clothes off.
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