ACTIVEWORLDS CORP Files SEC form 10-Q, Quarterly Report

Management's Discussion and Analysis of Financial Condition and Results of Operations. The following discussion of our financial condition and results of operations should be read together with the financial statements and related notes included in this Report. This discussion contains forward-looking statements that involve risks and uncertainties. Our actual results may differ materially from those anticipated in those forward-looking statements as a result of certain factors, including, but not limited to, those contained in the discussion on forward-looking statements that follows this section. OVERVIEW We are a Delaware corporation organized on September 5, 1995. In September 2002, we sold our business to our former management and have since been inactive and seeking business opportunities. On September 29, 2009, we entered into an agreement and plan of reverse acquisition (the "Agreement") with Wuhan Vogue-Show Jewelry Co., Ltd. ("Vogue-Show"), a People's Republic of China ("PRC") wholly-owned foreign enterprise, Vogue-Show's parent, Dragon Lead Group ("Dragon"), a British Virgin Islands (BVI) corporation, and the stockholders of Dragon (collectively, the "Seller"). Pursuant to the Agreement, at the closing of the transactions contemplated in the Agreement (the "Transaction"), we will acquire 100% of the issued and outstanding capital stock of Dragon, making Dragon our wholly owned subsidiary. Prior to the Agreement Vogue-Show has entered into a series of captive agreements with Wuhan Kingold Jewelry Co., Ltd., a People's Republic of China ("PRC") corporation ("Kingold") and the shareholders of Kingold whereby Kingold has agreed to pay 95.83% of its profits to Vogue-Show and about 95.83% of Kingold's shareholders have pledged their shares and delegated their voting powers in Kingold to Vogue-Show. This structure known as a variable interest agreement or "VIE" is a common structure use...
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ACTIVEWORLDS CORP Files SEC form 8-K, Regulation FD Disclosure, Financial Statements and Exhibits

Show all filings for ACTIVEWORLDS CORP | Request a Trial to NEW EDGAR Online Pro Form 8-K for ACTIVEWORLDS CORP 13-Oct-2009Regulation FD Disclosure, Financial Statements and Exhibits Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for infor...
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Activeworlds Corp. To Acquire A Leading Chinese 24-K Gold Jewelry Manufacturer

NEW YORK--(BUSINESS WIRE)--Activeworlds Corp. (OTCBB:AWLD - News) (the “Company”), announced that it has entered into a definitive agreement to acquire Wuhan Kingold Jewelry Co., Ltd., (“Kingold”). Kingold, located in Wuhan, Hubei Province, was founded in 2002 and is a leading Chinese designer and manufacturer of 24-K gold jewelry. The transaction is structured as an acquisition of the corporate parent of Wuhan Vogue-Show Jewelry Co., Ltd. (“Vogue Show”), a People’s Republic of China (“PRC”) corporation which has entered into a series of captive agreements with Kingold pursuant to which it will receive 95.83% of the profits of Kingold. Known as a variable interest agreement or “VIE”, this is a common structure used to acquire PRC corporations within certain industries designated by MOFCOM, the PRC’s Ministry of Commerce. Vogue Show, a wholly-foreign owned enterprise (“WFOE”), is owned by Dragon Lead Group Limited, a British Virgin Islands corporation. At the closing, Activeworlds will acquire 100% of Dragon Lead Group Limited.Consummation of the acquisition is subject to numerous conditions, including satisfactory due diligence reviews conducted by Activeworlds and Kingold and a private placement of Activeworlds common stock and warrants in the amount of $5 million prior to the closing. Thus, there can be no ass...
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ACTIVEWORLDS CORP Financials

PERIOD ENDING30-Jun-0931-Mar-0931-Dec-0830-Sep-08Total Revenue -   -   -   -  Cost of Revenue -   -   -   -  Gross Profit -   -   -   -  Operating ExpensesResearch Development -   -   -   -  Selling General and Administrative4  7  196  5  Non Recurring -   -   -   -  Others -   -   -   -  Total Operating Expenses -   -   -   -  Operating Income or Loss(4)(7)(196)(5)Income from Continuing OperationsTotal Other Income/Expenses Net -   -   -   -  Earnings Before Interest And Taxes(4)(7)(196)(5)Interest Expense -   -   -   -  Income Before Tax(4)(7)(196)(5)Income Tax Expense -   -   -   -  Minority Interest -   -   -   -  Net Income From Continuing Ops(4)(7)(196)(5)Non-recurring EventsDiscontinued Operations -   -   -   -  Extraordinary Items -   -   -   -  Effe...
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ACTIVEWORLDS CORP Files SEC form 10-Q, Quarterly Report

Management's Discussion and Analysis of Financial Condition and Results of Operations. The following discussion of our financial condition and results of operations should be read together with the financial statements and related notes included in this Report. This discussion contains forward-looking statements that involve risks and uncertainties. Our actual results may differ materially from those anticipated in those forward-looking statements as a result of certain factors, including, but not limited to, those contained in the discussion on forward-looking statements that follows this section. OVERVIEW We are a Delaware corporation organized on September 5, 1995. We have been inactive since September 2002 since we sold our business to our former management. We are now seeking business opportunities. We have not had revenues from operations since July 2002. Our primary expenses relate to our reporting obligations under the Securities Exchange Act of 1934 and expenses related to the acquisition of another business opportunity. We will incur expenses due to the legal and accounting services required to prepare periodic reports and the costs of filing these reports with the Securities and Exchange Commission. Our plan of operations does not call for any product research or development, nor do we plan to purchase any equipment. We believe we have enough working capital to meet our operational needs for the next 12 months. We currently have no employees. Our management expects to confer with consultants, attorneys and accountants as necessary. We do not anticipate a need to engage any employees so long as we are seeking and evaluating business opportunities. We will determine the need for employees based upon the specific business opportunity once we consummate an acquisition transaction. Results of Operations We had no revenue for the quarters ended June 30, 2009 and 2008. Our net loss for the second quarter ended June 30, 2009 was $3,986, in contrast to ...
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ACTIVEWORLDS CORP Files SEC form 10-Q, Quarterly Report

Management's Discussion and Analysis of Financial Condition and Results of Operations. The following discussion of our financial condition and results of operations should be read together with the financial statements and related notes included in this Report. This discussion contains forward-looking statements that involve risks and uncertainties. Our actual results may differ materially from those anticipated in those forward-looking statements as a result of certain factors, including, but not limited to, those contained in the discussion on forward-looking statements that follows this section. OVERVIEW We are a Delaware corporation organized on September 5, 1995. We have been inactive since September 2002 since we sold our business to our former management. We are now seeking business opportunities. We have not had revenues from operations since July 2002. Our primary expenses relate to our reporting obligations under the Securities Exchange Act of 1934 and expenses related to the acquisition of another business opportunity. We will incur expenses due to the legal and accounting services required to prepare periodic reports and the costs of filing these reports with the Securities and Exchange Commission. Our plan of operations does not call for any product research or development, nor do we plan to purchase any equipment. We believe we have enough working capital to meet our operational needs for the next 12 months. We currently have no employees. Our management expects to confer with consultants, attorneys and accountants as necessary. We do not anticipate a need to engage any employees so long as we are seeking and evaluating business opportunities. We will determine the need for employees based upon the specific business opportunity once we consummate an acquisition transaction. Results of Operations We had no revenue for the quarters ended March 31, 2009 and 2008. Our net loss for the first quarter ended March 31, 2009 was $6,780, in cont...
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ACTIVEWORLDS CORP Files SEC form 10-K, Annual Report

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation. The following Management's Discussion and Analysis or Plan of Operation contains forward-looking statements. Forward-looking statements reflect management's current expectations and are inherently uncertain. Our actual results may differ significantly from management's expectations. The following discussion and analysis should be read in conjunction with our audited 2007 and 2008 financial statements which are included herein. This discussion should not be construed to imply that the results discussed herein will necessarily continue into the future, or that any conclusion reached herein will necessarily be indicative of actual operating results in the future. Such discussions represent only the best present assessment of our management. Overview We are a Delaware corporation organized on September 5, 1995. We have been inactive since September 11, 2002. Since that date, we have been seeking and evaluating business opportunities. We have not had revenue from operations since July 10, 2002. Our primary expenses relate to our reporting obligations under the Securities Exchange Act of 1934 and expenses related to the acquisition of another business opportunity. We will incur expenses due to the legal and accounting services required to prepare periodic reports and the costs of filing these reports with the Securities and Exchange Commission. Our plan of operations does not call for any product research or development, nor do we plan to purchase any equipment. We currently have no employees. Our management expects to confer with consultants, attorneys and accountants as necessary. Critical Accounting Estimates Because we are inactive, we do not make the same judgments or estimates that are made by operating companies. See Note 2 to our Consolidated Financial Statements for a discussion of our significant accounting policies. ...
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ACTIVEWORLDS CORP Files SEC form 10-Q, Quarterly Report

Management's Discussion and Analysis of Financial Condition and Results of Operations. The following discussion of our financial condition and results of operations should be read together with the financial statements and related notes included in this Report. This discussion contains forward-looking statements that involve risks and uncertainties. Our actual results may differ materially from those anticipated in those forward-looking statements as a result of certain factors, including, but not limited to, those contained in the discussion on forward-looking statements that follows this section. OVERVIEW We are a Delaware corporation organized on September 5, 1995. We have been inactive since September 2002 since we sold our business to our former management. We are now seeking business opportunities. We have not had revenues from operations since July 2002. Our primary expenses relate to our reporting obligations under the Securities Exchange Act of 1934 and expenses related to the acquisition of another business opportunity. We will incur expenses due to the legal and accounting services required to prepare periodic reports and the costs of filing these reports with the Securities and Exchange Commission. Our plan of operations does not call for any product research or development, nor do we plan to purchase any equipment. We believe we have enough working capital to meet our operational needs for the next 12 months. We currently have no employees. Our management expects to confer with consultants, attorneys and accountants as necessary. We do not anticipate a need to engage any employees so long as we are seeking and evaluating business opportunities. We will determine the need for employees based upon the specific business opportunity once we consummate an acquisition transaction. Results of Operations We had no revenue for the quarter and three months ended September 30, 2008 and 2007. Our net loss for the three and nine months ended Septem...
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