MOMENTUM BIOFUELS, INC. Financials

PERIOD ENDING30-Jun-0931-Mar-0931-Dec-0830-Sep-08Total Revenue -  183  32  38  Cost of Revenue -  162   -  5  Gross Profit -  21  32  33  Operating ExpensesResearch Development -   -   -   -  Selling General and Administrative809  866  964  1,026  Non Recurring -   -   -   -  Others -   -   -   -  Total Operating Expenses -   -   -   -  Operating Income or Loss(809)(845)(931)(993)Income from Continuing OperationsTotal Other Income/Expenses Net -   -   -   -  Earnings Before Interest And Taxes(809)(845)(931)(993)Interest Expense40  44  50  40  Income Before Tax(849)(889)(982)(1,033)Income Tax Expense -   -   -   -  Minority Interest -   -   -   -  Net Income From Continuing Ops(849)(889)(982)(1,033)Non-recurring EventsDiscontinued Operations -   -   -   -  Extraordinary Items -   -   -   -  Effect Of Accounting Changes -   -   - &n...
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MOMENTUM BIOFUELS, INC. Files SEC form 8-K, Entry into a Material Definitive Agreement, Unregistered Sale of Equity S

ITEM 1.01 - Entry into a Material Definitive Agreement. Agreement On August 25, 2009, Momentum BioFuels, Inc. (the "Registrant") entered into an Agreement with Hunt Global Resources, Inc. ("Hunt") that provides for Hunt to assume certain liabilities and obligations as described below. In July 2008, the Registrant issued $600,000 in convertible promissory notes. The Convertible Notes have a 10% annual interest rate, that is to be paid quarterly and a due date of May 1, 2013. The Convertible Notes are convertible into shares of the Registrant's common stock at a rate of $0.40 per share ("conversion price"). As part of the Agreement, Hunt has agreed to assume the obligations under the $600,000 in Convertible Promissory Notes, including any unpaid interest and/or penalties. In addition to the $600,000 in convertible promissory notes, Hunt has agreed to assume the Registrant's obligations under $220,000 in outstanding promissory notes. In addition, as part of the Agreement, Hunt has agreed to assume all of the Registrant's obligations and commitments under the sub-lease agreement for its production facilities. This includes any and all past due rent, assessments and any other charges due. In exchange for the assumption of the Registrant's obligations under the Convertible Promissory Notes and the lease agreement, the Registrant has agreed to issue Hunt shares of the Registrant's restricted common shares equal to either 39% of the issued and outstanding stock of the Registrant or 40,000,000 shares of the Registrant's common stock, whichever is greater. As part of the Agreement, the Registrant and Hunt have entered into a License Agreement, see below. License Agreement On August 25, 2009, as part of the Agreement with Hunt, the Registrant entered into a License Agreement (the "License Agreement") with Hunt. The License Agreement pro...
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MOMENTUM BIOFUELS, INC. Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FORWARD-LOOKING STATEMENTS CAUTIONARY This Item 2 and the report on Form 10-Q for the period ended June 30, 2009 may contain "forward-looking statements" regarding Momentum Biofuels, Inc. (the "Company" or "Momentum"). In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of such terms and other comparable terminology. These forward-looking statements include, without limitation, statements about our market opportunity, our strategies, competition, expected activities and expenditures as we pursue our business plan, and the adequacy of our available cash resources. Although we believe that the expectations reflected in any forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Actual results may differ materially from the predictions discussed in these forward-looking statements. Changes in the circumstances upon which we base our predictions and/or forward-looking statements could materially affect our actual results. Additional factors that could materially affect these forward-looking statements and/or predictions include, among other things: (1) our limited operating history; (2) our ability to pay down existing debt; (3) the Company's ability to obtain contracts with suppliers of raw materials (for the Company's production of biodiesel fuel) and distributors of the Company's biodiesel fuel product; (4) the risks inherent in the mutual performance of such supplier and distributor contracts (including th...
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MOMENTUM BIOFUELS, INC. Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION FORWARD-LOOKING STATEMENTS CAUTIONARY This Item 2 and the report on Form 10-Q for the period ended March 31, 2009 may contain "forward-looking statements" regarding Momentum Biofuels, Inc. (the "Company" or "Momentum"). In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of such terms and other comparable terminology. These forward-looking statements include, without limitation, statements about our market opportunity, our strategies, competition, expected activities and expenditures as we pursue our business plan, and the adequacy of our available cash resources. Although we believe that the expectations reflected in any forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Actual results may differ materially from the predictions discussed in these forward-looking statements. Changes in the circumstances upon which we base our predictions and/or forward-looking statements could materially affect our actual results. Additional factors that could materially affect these forward-looking statements and/or predictions include, among other things: (1) our limited operating history; (2) our ability to pay down existing debt; (3) the Company's ability to obtain contracts with suppliers of raw materials (for the Company's production of biodiesel fuel) and distributors of the Company's biodiesel fuel product; (4) the risks inherent in the mutual performance of such supplier and distributor contracts ...
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MOMENTUM BIOFUELS, INC. Files SEC form 10-K, Annual Report

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FORWARD-LOOKING STATEMENTS CAUTIONARY This Report on Form 10-K for the year ended December 31, 2008 may contain "forward-looking statements" regarding Momentum Biofuels, Inc. (the "Company" or "Momentum"). In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of such terms and other comparable terminology. These forward-looking statements include, without limitation, statements about our market opportunity, our strategies, competition, expected activities and expenditures as we pursue our business plan, and the adequacy of our available cash resources. Although we believe that the expectations reflected in any forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Actual results may differ materially from the predictions discussed in these forward-looking statements. Changes in the circumstances upon which we base our predictions and/or forward-looking statements could materially affect our actual results. Additional factors that could materially affect these forward-looking statements and/or predictions include, among other things: (1) our limited operating history; (2) our ability to pay down existing debt; (3) the Company's ability to obtain contracts with suppliers of raw materials (for the Company's production of biodiesel fuel) and distributors of the Company's biodiesel fuel product; (4) the risks inherent in the mutual performance of such supplier a...
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MOMENTUM BIOFUELS, INC. Files SEC form 8-K, Change in Directors or Principal Officers

Show all filings for MOMENTUM BIOFUELS, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for MOMENTUM BIOFUELS, INC. 27-Mar-2009Change in Directors or Principal Officers 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 pur...
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MOMENTUM BIOFUELS, INC. Files SEC form 8-K, Change in Directors or Principal Officers

Show all filings for MOMENTUM BIOFUELS, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for MOMENTUM BIOFUELS, INC. 25-Feb-2009Change in Directors or Principal Officers 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 purp...
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