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x
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Quarterly
Report Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of
1934.
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o
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Transition
Report Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of
1934.
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Colorado
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84-1453702
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(State
or other jurisdiction of
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(I.R.S.
Employer Identification No.)
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incorporation
or organization)
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281
8th
Street
Jersey
City, NJ
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07302
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(Address
of principal executive offices)
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(Zip
Code)
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Yes
x
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No
o
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Item
1.
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Financial
Statements
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F-1
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Item
2.
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Management’s
Discussion and Analysis of Financial Condition
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4
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Item
3.
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Control
and Procedures
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7
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Item
1.
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Legal
Proceedings
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8
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Item
2.
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Unregistered
Sale of Equity of Securities
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10
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Item
3.
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Defaults
Upon Senior Securities
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10
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Item
4.
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Submission
of Matters to a Vote of Security Holders
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10
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Item
5.
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Other
Information
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10
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Item
6.
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Exhibits
and Reports on Form 8-K
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10
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| SIGNATURE |
11
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June
30,
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December
31,
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|||||||
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2007
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2006
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|||||||
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ASSETS
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(Unaudited)
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(Audited)
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||||||
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||||||||
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Current
Assets
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||||||||
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Cash
and cash equivalents
|
$ |
1,034
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$ |
1,034
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||||
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Total
Current Assets
|
1,034
|
1,034
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||||||
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|
||||||||
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Property
and Equipment, net
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||||||||
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TOTAL
ASSETS
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$ |
1,034
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$ |
1,034
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||||
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LIABILITIES
AND SHAREHOLDER'S DEFICIT
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||||||||
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||||||||
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Current
Liabilities
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||||||||
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Accounts
payable
|
219,717
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219,717
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||||||
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Accrued
expenses
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637,582
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520,285
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||||||
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Notes
payable
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1,242,094
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1,169,793
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||||||
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Notes
Payable-June Convertible Debt
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280,000
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280,000
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||||||
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Total
current liabilities
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2,379,393
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2,189,795
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||||||
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||||||||
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Shareholder's
deficit
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||||||||
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Preferred
stock, no par
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||||||||
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20,000,000
shares authorized
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||||||||
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0(unaudited)
no shares issued and
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||||||||
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outstanding
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-
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-
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||||||
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Common
stock, $0.001 par value
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||||||||
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5,000,000,000
shares authorized
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-
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-
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||||||
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(unaudited)
and 1,345,451,582
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||||||||
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shares
issued and outstanding for
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||||||||
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June
30, 2007 and December 31, 2006,
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||||||||
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respectively
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1,292,605
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1,239,749
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||||||
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Additional
paid-in capital
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15,969,348
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16,006,348
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||||||
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Accumulated
deficit
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(19,640,312 | ) | (19,434,858 | ) | ||||
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Total
shareholder's deficit
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(2,378,359 | ) | (2,188,761 | ) | ||||
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||||||||
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TOTAL
LIABILITIES AND STOCKHOLDER'S EQUITY
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$ |
1,034
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$ |
1,034
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||||
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FOR
THE SIX MONTHS
ENDED
JUNE 30
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FOR
THE THREE MONTHS
ENDED
JUNE 30
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|||||||||||||||
|
2007
|
2006
|
2007
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2006
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|||||||||||||
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Revenue
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0
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0
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0
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0
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||||||||||||
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||||||||||||||||
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Cost
of Goods Sold
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0
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0
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0
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0
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||||||||||||
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Gross
Profit
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0
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0
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0
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0
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||||||||||||
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||||||||||||||||
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Operating
expenses
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||||||||||||||||
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Compensation/Consulting
expense
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9,200
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177,310
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0
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107,510
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||||||||||||
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Selling,
general and
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||||||||||||||||
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administration
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8,457
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11,581
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0
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7,709
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||||||||||||
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Professional
Fees
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70,500
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286,750
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17,000
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7,052
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||||||||||||
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Total
operating expenses
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88,157
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475,641
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17,000
|
122,271
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||||||||||||
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||||||||||||||||
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Loss
from operations
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(88,157 | ) | (475,641 | ) | (17,000 | ) | (122,271 | ) | ||||||||
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|
||||||||||||||||
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Other
Income (Expense)
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||||||||||||||||
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Interest
Expense
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(117,298 | ) | (112,400 | ) | (58,848 | ) | (56,200 | ) | ||||||||
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Cancellation
of Debt
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0
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184,543
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0
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184,543
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||||||||||||
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Total
other income (expense)
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(117,298 | ) |
72,143
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(58,848 | ) |
128,343
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||||||||||
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Loss
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(205,455 | ) | (403,498 | ) | (75,848 | ) |
6,072
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|||||||||
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||||||||||||||||
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||||||||||||||||
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||||||||||||||||
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Basic
and diluted loss per share:
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||||||||||||||||
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From
before extraordinary item
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$ | $ | $ | $ | ||||||||||||
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After
extraordinary item
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||||||||||||||||
| $ | $ | $ | $ | |||||||||||||
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||||||||||||||||
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Basic
and diluted
|
||||||||||||||||
|
weighted-average
shares
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||||||||||||||||
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outstanding
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||||||||||||||||
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Six
Months Ended
|
Six
Months Ended
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|||||||||
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June
30, 2007
|
June 30, 2006 | |||||||||
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Cash
Flows from Operating Activities:
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||||||||||
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Net
Loss from continuing operations
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$ | (205,455 | ) | $ | (403,498 | ) | ||||
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Adjustments
to reconcile net loss to net cash
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||||||||||
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provided
by operating activities
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||||||||||
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Activities:
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||||||||||
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Depreciation
and amortization
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||||||||||
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Issuance
of common stock to board members
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||||||||||
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and
employees for services
rendered
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0
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137,299
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||||||||
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Issuance
of common stock to consultants
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||||||||||
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for
services rendered
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0
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326,760
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||||||||
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Provision
for allowance for doubtful accounts
|
||||||||||
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(Increase)
decrease in
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||||||||||
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Accounts
receivable
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||||||||||
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Inventory
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||||||||||
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Prepaid
expenses and other current assets
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0
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25,000
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||||||||
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Increase
(decrease) in
|
||||||||||
|
Account
payable
|
||||||||||
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Accrued
expenses
|
(114,298 | ) | (156,777 | ) | ||||||
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Beneficial
Conversion Expense
|
8,457
|
|
||||||||
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Warrant
Expense
|
||||||||||
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Net
cash provided/(used) in operating
|
||||||||||
|
activities
|
(82,700 | ) | (71,216 | ) | ||||||
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Net
Cash Used by Operating Activities
|
||||||||||
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Cash
Flows from Investing Activities
|
||||||||||
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Purchase
of property and equipment
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-0-
|
-0-
|
||||||||
|
Net
cash used in investing activities
|
-0-
|
-0-
|
||||||||
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Cash
flows from financing activities
|
||||||||||
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Proceeds
from notes payable
|
82,700
|
30,000
|
||||||||
|
Payments
on notes payable
|
-
|
-
|
||||||||
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Proceeds
from the sale of stock
|
-0-
|
42,200
|
||||||||
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Net
cash provided/used by financing
|
||||||||||
|
activities
|
82,700
|
72,000
|
||||||||
|
Net
increase in cash and cash equivalents
|
-0-
|
784
|
||||||||
|
Cash
and cash equivalents, beginning of period
|
1,034
|
|||||||||
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Cash
and cash equivalents, end of period
|
1,034
|
$ |
784
|
|||||||
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Supplemental
disclosures of cash flow information
|
||||||||||
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Interest
paid
|
$ | $ | ||||||||
|
Income
taxes paid
|
$ |
-
|
$ |
-
|
||||||
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31.1
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Certification
pursuant to Section 302 of Sarbanes Oxley Act of
2002
|
|
32.1
|
Certification
pursuant to Section 906 of Sarbanes Oxley Act of
2002
|
|
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|||
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AMERICANA
DISTRIBUTION, INC.
|
||
|
|
Registrant
|
||
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||
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Date:
August 20, 2007
|
By:
/s/ John T. Ruddy
John
T. Ruddy
|
||
|
|
President,
Chief Executive Officer
|
||
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Chief
Financial Officer, Principal
|
|||
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Accounting
Officer, and Chairman
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