Mitesco, Inc. - Quarter Report: 2011 September (Form 10-Q)

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 FORM 10-Q

(Mark One)

[X]                 QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarter Ended September 30, 2011

[   ]                 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from   to

Commission File Number  000-53601

BRAIN TREE INTERNATIONAL, INC.

(Exact name of registrant as specified in its charter)

UTAH	870496850
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

1390 South 1100 East # 204, Salt Lake City, Utah 84105-2463

(Address of principal executive offices)

(801) 938-5598

(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 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 has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).Yes  [  ]    No  [   ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.

	Large accelerated filer		[   ]	Accelerated filer	[   ]
	Non-accelerated filer		[   ]	Smaller reporting company	[X]
	(Do not check if a smaller reporting company)

 

     Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [  ]   No [X]

APPLICABLE ONLY TO CORPORATE ISSUERS

Indicate the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date.

Class	Outstanding as of November 8, 2011
Common Stock, $0.001 par value		35,031,558

T ABLE OF CONTENTS

Heading		Page
	PART  I    —   FINANCIAL INFORMATION
Item 1.	Financial Statements	3
Item 2.	Management's Discussion and Analysis of Financial Condition and Results
	of Operations	11
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	13
Item 4(T).	Controls and Procedures	13
	PART II   —   OTHER INFORMATION
Item 1.	Legal Proceedings	13
Item 1A.	Risk Factors	14
Item 2	Unregistered Sales of Equity Securities and Use of Proceeds	14
Item 3.	Defaults Upon Senior Securities	14
Item 4.	(Removed and Reserved)	14
Item 5.	Other Information	14
Item 6.	Exhibits	14
	Signatures	15

 

PART  I   —   FINANCIAL INFORMATION

Item 1.                      Financial Statements

The accompanying unaudited balance sheets of Brain Tree International, Inc. at September 30, 2011 and June 30, 2011 (audited), related unaudited statements of operations, stockholders' equity (deficit) and cash flows for the three months ended September 30, 2011 and 2010 and the period July 26, 1983 (date of inception) to September 30, 2011, have been prepared by management in conformity with United States generally accepted accounting principles.  In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature.  Operating results for the period ended September 30, 2011, are not necessarily indicative of the results that can be expected for the fiscal year ending June 30, 2012 or any other subsequent period.

BRAIN TREE INTERNATIONAL, INC.

Development Stage Company

STATEMENTS OF CASH FLOWS - unaudited

For the Three Months Ended September 30, 2011 and 2010

and the Period July 26, 1983 (date of inception)  to September 30, 2011

 

 

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the ability to complete development of our technology;

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the ability to secure necessary broadcast license, if required;

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uncertainties involved in the rate of growth of our business and acceptance of our technology;

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volatility of the stock market; and

 

   
         

Item 1.	Legal Proceedings
There are no material pending legal proceedings to which we are a party or to which any of our property is subject and, to the best of our knowledge, no such actions against us are contemplated or threatened.
Item 1A.	Risk Factors
This item is not required for a smaller reporting company.
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds
This Item is not applicable
Item 3.	Defaults Upon Senior Securities
This Item is not applicable.
Item 4.	(Removed and Reserved)
Item 5.	Other Information
This Item is not applicable
Item 6.	Exhibits
	Exhibit 31.1	Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
	Exhibit 31.2	Certification of Principal Financial Officer and Principal Accounting Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
	Exhibit 32.1	Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
	Exhibit 32.2	Certification of Principal Financial Officer and Principal Accounting Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
	101.Ins	XBRL Instance
	101.Sch	XBRL Schema
	101.Cal	XBRL Calculation
	101.Def	XBRL Definition
	101.Lab	XBRL Label
	101.pre	XBRL Presentation
	Exhibit 101*	Interactive Data File

 

 

	BRAIN TREE INTERNATIONAL, INC.
Date:  November 14, 2011	By:  /S/  Donna T. Norman
	Donna T. Norman
	President, C.E.O. and Director
Date:  November 14, 2011	By:  /S/  George I. Norman, III
	George I. Norman, III
	Vice President and Director
	(Principal Financial Officer)
	(Principal Accounting Officer)

 

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