FREEDOM RESOURCES ENTERPRISES INC Financials

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FREEDOM RESOURCES ENTERPRISES INC Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis of Financial Condition or Plan of Operation Forward-Looking Statement Notice This Form 10-Q contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For this purpose any statements contained in this Form 10-Q that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "estimate" or "continue" or comparable terminology are intended to identify forward-looking statements. These statements by their nature involve substantial risks and uncertainties, and actual results may differ materially depending on a variety of factors, many of which are not within our control. These factors include but are not limited to economic conditions generally and in the industries in which we may participate; competition within our chosen industry, including competition from such larger competitors; technological advances and failure to successfully develop business relationships. Description of Business. Freedom Resources Enterprises, Inc. was incorporated in the State of Nevada on November 6, 1996, to research and publish a self-improvement book based on the insights and understandings of major world cultures. The working title for the proposed book was Personal Freedom and Prosperity. We did not publish the book, but instead used materials gathered during our research to develop a series of eight self-help workshops. Each self-taught workshop consisted of an audiotape and a workbook. The workshops were sold online under a marketing agreement with Life Discovery Institute, a related party that maintains a website dedicated to self-improvement products and education. As of March 31, 2009, we have total revenue of $3,560 since inception on November 6, 1996. Becaus...
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FREEDOM RESOURCES ENTERPRISES INC Files SEC form 10-K, Annual Report

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following discussion should be read in conjunction with our financial statements and related notes thereto as included with this report. Years Ended December 31, 2008 and 2007 We have at December 31, 2008, $809 available cash on hand and have a cumulative loss since inception on November 6, 1996, of $201,502. We did not generate any revenues or have operations during the years ended December 31, 2008 and 2007. Net loss during the year ended December 31, 2008, was $40,426 compared to $20,363 for year ended December 31, 2007. Expenses for the year ended December 31, 2008, consisted of general and administrative expenses of $33,150 and interest expense of $7,276. Expenses for the year ended December 31, 2007, consisted of general and administrative expenses of $14,330 and interest expense of $6,033. The general and administrative expenses during 2008 and 2007 were primarily due to professional, legal, and accounting fees associated with our public filings. Liquidity and Capital Resources At December 31, 2008, we had $809 in available cash on hand and $115,523 in liabilities, including $7,084 of accounts payable, $102,500 in shareholder advances, and $5,939 in convertible notes payable and accrued interest. We had a working capital deficit of approximately $110,000 at December 31, 2008. We anticipate our expenses for the next twelve months will be approximately $24,000. At the present time management does not believe the Company has sufficient working capital to meet its needs for the year ending December 31, 2009. Therefore, management will seek financing through loans or sale of common stock. In 2008 the president and shareholders advanced the Company a total of $30,000, and in February 2009 the company received an additional $2,000 advance from a shareholder. Management anticipates that it will rely on further advances from our pres...
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FREEDOM RESOURCES ENTERPRISES INC Files SEC form 10-Q, Quarterly Report

Show all filings for FREEDOM RESOURCES ENTERPRISES INC | Request a Trial to NEW EDGAR Online Pro Form 10-Q for FREEDOM RESOURCES ENTERPRISES INC 30-Oct-2008Quarterly Report 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 informational purpose...
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