Nukkleus Inc. - Quarter Report: 2016 March (Form 10-Q)

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x	ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the six months ended March 31, 2016.

o	TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the transition period from                  to                      .

Delaware		38-3912845
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

 

3324 West University Ave Gainesville, FL		32609
(Address of principal executive offices)		(Zip Code)

 

 

 

 

 

 

 

Class		Outstanding May 20, 2016
Common Stock, $0.0001 par value per share		166,535,100 shares

 

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PART I	FINANCIAL INFORMATION	3
ITEM 1.	INTERIM FINANCIAL STATEMENTS	3
ITEM 2.	MANAGEMENT’S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION	10
ITEM 3.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	12
ITEM 4.	CONTROLS AND PROCEDURES	12
ITEM 5.	OTHER	12
PART II	OTHER INFORMATION	13
ITEM 1.	LEGAL PROCEEDINGS	13
ITEM 1A.	RISK FACTORS	13
ITEM 2.	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	13
ITEM 3	DEFAULTS UPON SENIOR SECURITIES	13
ITEM 4	SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS	13
ITEM 5	OTHER INFORMATION	13
ITEM 6	EXHIBITS	13

SIGNATURES

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Condensed Balance Sheets as of March 31, 2016 (unaudited) and September 30, 2015			F-1
Condensed Statements of Operations for the three and six months ended March 31, 2016 and 2015 (unaudited)			F-2
Statements of Cash Flow for the six months ended March 31, 2016 and 2015 (unaudited)			F-3
Notes to Condensed Financial Statements (unaudited)			F-4

 

 

ASSETS
		3/31/16				9/30/15
CURRENT ASSETS:
Cash or cash equivalents		$	-			$	-
TOTAL CURRENT ASSETS			-				-
TOTAL ASSETS		$	-			$	-
LIABILIATIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Due to shareholder			31,882				21,882
Accrued taxes			250				250
TOTAL CURRENT LIABILITIES			32,132				22,132
TOTAL LIABILITIES			32,132				22,132
STOCKHOLDERS'  (DEFICIT)
Preferred stock, $.0001 par value, 15,000,000 shares authorized, none issued and outstanding			-				-
Common stock, $.00001 par value, 300,000,000 shares authorized, 166,535,100 shares issued and outstanding, as of March 31, 2016 and September 30, 2015			16,654				16,654
Additional paid-in capital			79,547				79,547
Retained deficit			(128,333	)			(118,333	)
TOTAL STOCKHOLDERS' (DEFICIT)			(32,132	)			(22,132	)
TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT)		$	-				-

 

		Three Months Ended March 31, 2016				Three Months Ended March 31, 2015				Six Months Ended March 31, 2016				Six Months Ended March 31, 2015
Revenues:
Professional service revenues		$	-			$	6,000			$	-			$	30,500
Client expense reimbursement			-				543				-				1,969
Total Revenues			-				6,543				-				32,469
Cost of revenues			-				40				-				165
Cost of revenues from a related party			-				3,500				-				14,500
Gross Profit			-				3,003				-				17,804
Operating expenses:
General and administrative			10,000				13,979				10,000				27,271
General and administrative costs from a related party			-				9,827				-				13,827
Total operating expenses			10,000				23,806				10,000				41,098
(Loss) from operations			(10,000	)			-20,803				(10,000	)			-23,294
Net (loss) applicable to common shareholders		$	(10,000	)		$	(20,803	)		$	(10,000	)		$	(23,294	)
Net (loss) per share - basic and diluted		$	(0.00	)		$	(0.00	)		$	(0.00	)		$	(0.00	)
Weighted number of shares outstanding -
Basic and diluted			165,535,100				165,535,100				165,535,100				165,535,100

 

 

		Six Months Ended March 31, 2016				Six Months Ended March 31, 2015
CASH FLOWS USED IN OPERATING ACTIVITIES:
Net (loss)			(10,000	)		$	(23,294	)
Change in operating assets and liabilities:
Accounts payable and accrued expenses			-				(14,311	)
Net cash used in operating activities			(10,000	)			(37,605	)
CASH FLOW FROM FINANCING ACTIVITIES:
Loan from shareholder			10,000				24,701
Net cash provided by financing activities			10,000				24,701
NET DECREASE IN CASH			-				(12,904	)
CASH AND CASH EQUIVALENTS at beginning of period			-				12,904
CASH AND CASH EQUIVALENTS at end of period			-				-
Supplemental disclosure of cash flow information
Cash paid for:
Interest			0.00				0.00
Income Taxes			0.00				0.00

 

 

 

	●	there is persuasive evidence of an arrangement;
	●	the service has been provided to the customer;
	●	the collection of the fees is reasonably assured; and
	●	the amount of fees to be paid by the customer is fixed or determinable.

 

		Six Months Ended March 31, 2016				Six Months Ended March 31, 2015
Current Tax Provision:
Total current tax provision		$	-			$	-
Deferred Tax Provision:
Loss carry-forwards			(1,500	)			(3,494	)
Change in valuation allowance			1,500				3,494
Total deferred tax provision		$	-				-

Loss carry-forwards		$	19,250
Less - valuation allowance			(19,250	)
Total net deferred tax assets		$	-

5. Subsequent events

1.		our future operating results;
2.		our business prospects;
3.		any contractual arrangements and relationships with third parties;
4.		the dependence of our future success on the general economy;
5.		any possible financings; and
6.		the adequacy of our cash resources and working capital.

 

 

Exhibit Number		Description
31.1*		Rule 13a-14(a) Certification of the Chief Executive and Financial Officer
32.1*		Section 1350 Certification of Chief Executive and Financial Officer
	*	Filed along with this document

	NUKKLEUS INC
Dated: May 20, 2016	By:	/s/ Peter Maddocks
		Peter Maddocks
		Chief Executive Officer, Chief Accounting Officer & Chairman

Signature	Title	Date
/s/ Peter Maddocks	Chief Executive Officer, Chief Accounting Officer & Chairman	May 20, 2016

 

 

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