ADAMANT DRI PROCESSING & MINERALS GROUP - Quarter Report: 2007 March (Form 10-Q)
UNITED
STATES SECURITIES AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
10-QSB
(X)
Quarterly
report under section 13 or 15(d) of the Securities Act of 1934.
For
the
quarterly period ended March 31, 2007
(
) Transition
report under section 13 or 15(d) of the Securities Act of 1934.
For
the
Transition period from _______ to ________.
Commission
file number: 000-49729
UHF
Incorporated
(Exact
Name of Small Business Issuer as Specified in its Charter)
|
Michigan
|
38-1740889
|
|
(State
or Other Jurisdiction of
|
(I.R.S.
Employer
|
|
Incorporation
or Organization)
|
Identification
Number)
|
60
Port
Perry Road
North
Versailles, PA 15137
(Address
of Principal Executive Offices)
(412)
394-4039
(Issuer’s
Telephone Number, Including Area Code)
Check
whether the issuer (1) has filed all reports required to be filed by Section
13
or 15(d) of the Securities and Exchange Act of 1934 during the preceding 12
months (or for such shorter period that the registrant was required to file
such
reports), and (2) has been subject to such filing requirements for the past
90
days.
Yes
X
; No __
Indicate
by check mark whether the registrant is a shell company (as defined in Rule
12b-2 of the Exchange Act).
Yes
X
; No __
The
number of shares of the issuer’s common stock outstanding, as of April 23, 2007
was 9,480,754.
Transitional
Small Business Disclosure Format: Yes
X
; No ___
PART
I -
FINANCIAL INFORMATION
ITEM
I
UHF
INCORPORATED
BALANCE
SHEETS
|
ASSETS
|
|||||||
|
March
31,
|
December
31,
|
||||||
|
2007
|
2006
|
||||||
|
(Unaudited)
|
|||||||
|
CASH
|
$
|
-
|
$
|
-
|
|||
|
ORGANIZATION
COST
|
-
|
-
|
|||||
|
TOTAL
ASSETS
|
$
|
-
|
$
|
-
|
|||
|
LIABILITIES
AND STOCKHOLDERS' DEFICIT
|
|||||||
|
ACCRUED
EXPENSES
|
$
|
10,750
|
$
|
10,000
|
|||
|
Total
liabilities
|
10,750
|
10,000
|
|||||
|
COMMITMENTS
AND CONTINGENCIES
|
-
|
-
|
|||||
|
STOCKHOLDERS'
DEFICIT
|
|||||||
|
Common
stock, $.001 par value; 50,000,000 authorized
|
|||||||
|
shares,
9,480,754 issued and outstanding
|
9,481
|
9,481
|
|||||
|
PAID
IN CAPITAL
|
(9,481
|
)
|
(9,481
|
)
|
|||
|
RETAINED
DEFICIT
|
(10,750
|
)
|
(10,000
|
)
|
|||
|
Total
stockholders' deficit
|
(10,750
|
)
|
(10,000
|
)
|
|||
|
TOTAL
LIABILITIES AND STOCKHOLDERS' DEFICIT
|
$
|
-
|
$
|
-
|
|||
The
accompanying notes are an integral part of these financial
statements.
UHF
INCORPORATED
STATEMENTS
OF OPERATIONS AND RETAINED DEFICIT
|
Three
Month Period Ended March 31,
|
|||||||
|
2007
|
|
2006
|
|||||
|
REVENUE
|
$
|
-
|
$
|
-
|
|||
|
OPERATING
EXPENSES
|
750
|
-
|
|||||
|
NET
INCOME
|
(750
|
)
|
-
|
||||
|
Retained
Deficit - Beginning of Year
|
(10,000
|
)
|
(10,000
|
)
|
|||
|
RETAINED
DEFICIT - END OF PERIOD
|
$
|
(10,750
|
)
|
$
|
(10,000
|
)
|
|
The
accompanying notes are an integral part of these financial
statements.
UHF
INCORPORATED
STATEMENTS
OF CASH FLOWS
|
Three
Month Period Ended March 31,
|
|||||||
|
2007
|
|
2006
|
|||||
|
CASH
FLOWS FROM OPERATING ACTIVITY - NONE
|
$
|
-
|
$
|
-
|
|||
|
CASH
FLOW FROM INVESTING ACTIVITIES - NONE
|
-
|
-
|
|||||
|
CASH
FLOWS FROM FINANCING ACTIVITIES - NONE
|
-
|
-
|
|||||
|
Net
change in cash
|
-
|
-
|
|||||
|
Cash
- Beginning of Year
|
-
|
-
|
|||||
|
CASH
- END OF PERIOD
|
$
|
-
|
$
|
-
|
|||
The
accompanying notes are an integral part of these financial
statements.
UHF
INCORPORATED
NOTES
TO FINANCIAL STATEMENTS
1.
UNAUDITED
INTERIM FINANCIAL STATEMENTS
In
the
opinion of management, the accompanying unaudited financial statements contain
all adjustments necessary to present fairly the Company’s financial position as
of March 31, 2007 and the results of its operations and its
cash
flows for the three month period ended March 31, 2007 and 2006.
The
quarterly financial statements are presented in accordance with the requirements
of the Form 10-QSB and do not include all of the disclosures required by
accounting principles generally accepted in the United States of America. For
additional information, reference is made to the Company’s audited financial
statements for the years ended December 31, 2006 and 2005 filed with Form
10-KSB. The results of operations for the three month period ended March 31,
2007 and 2006 are not necessarily indicative of operating results for the full
year.
ITEM
3. CONTROLS AND PROCEDURES
| a) |
The
Company’s President, Chief Executive Officer, and Chief Financial Officer
have reviewed the effectiveness of the Company’s disclosure controls and
procedures as defined in Exchange Act Rules 13a-14(c) and 15d-14(c)
within
90 days of the date of this report. This officer has concluded that
the
Company’s disclosure controls and procedures were adequate and effective
to ensure that material information relating to the financial statements
has been disclosed.
|
| b) |
There
were no significant changes in the Company’s internal controls or in other
factors that could significantly affect the Company’s internal controls
and procedures subsequent to the review date, nor any significant
deficiencies or material weaknesses in such internal controls and
procedures requiring corrective
actions.
|
PART
II:
OTHER INFORMATION
Item
6. Exhibits
and Reports on Form 8-K
| (a) |
Exhibits.
|
Restated
Articles of Incorporation and By-Laws, as amended to date, filed as Exhibit
2 to
the Company’s Registration Statement on Form 10-SB, and incorporated herein by
reference.
Exhibit
31.1 - Certification of President, Chief Executive Officer,
and Chief Financial Officer, filed herewith.
Exhibit
32.1 - Certification Pursuant to 18 U.S.C. Section 1350, as
Adopted Pursuant to Section 906 of the Sarbanes - Oxley Act of 2002, filed
herewith.
SIGNATURE
Pursuant
to the requirements of the Securities and Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
|
UHF
INCORPORATED
|
||
|
(Registrant)
|
||
|
Date:
April 20, 2007
|
By:
|
/s/
Ronald C. Schmeiser
|
|
Ronald
C. Schmeiser
|
||
|
President,
Chief Executive
|
||
|
Officer,
and Chief Financial Officer
|