SECURELOGIC CORP Financials

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SECURELOGIC CORP Files SEC form 10-Q, Quarterly Report

Item 2. 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 Prior to the reversal of the acquisition of our SpaceLogic, Ltd. and SecureLogic, Ltd subsidiaries (the "Subsidiaries") on or about July 15, 2008 through the transfer of those Subsidiaries to the former owners of the Subsidiaries (the "Acquisition Reversal"), the Company was engaged in the business of developing and marketing systems that manage the movement of people and baggage through airports. Subsequent to the Acquisition Reversal, the Company is engaged in reconstituting its business plan to re-enter the homeland security marketplace through a combination of organic development, the acquisition of products and/or the acquisition of companies. In reading Management's Discussion and Analysis of Financial Condition and Results of Operations, the reader should keep in mind that the Company's financial statements reflect the treatment of the transfer of the Subsidiaries in the Acquisition Reversal as a discontinued operation and therefore, does not reflect the business of the Company after July 15, 2008 through the date of this Report. Results of Operations Total revenues for the three and six month periods ended June 30, 2009 and 2008 were $0 which reflects the discontinued operations of our Israeli subsidiary as a result of the Acquisition Reversal which occurred on July 15, 2008. Gross profit ...
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SECURELOGIC CORP Files SEC form 8-K, Entry into a Material Definitive Agreement, Financial Statements and Exhibits

Item 1.01 Entry into a Material Definitive Agreement On August 3, 2009, the Registrant (the "Company") entered into a Stock Purchase Agreement (the "Agreement") with Zhejiang LeDi Electronic Technology Co., Ltd., a People's Republic of China ("PRC") corporation ("LeDi Electronic"), LeDi Electronic's sole stockholder, Hong Kong Bestron Group Limited ("Bestron"), a Hong Kong corporation, Bestron's sole stockholder, Hero Horse Limited, a Samoan corporation ("Hero Horse") and Max Yang, the sole stockholder of Hero Horse (the "Seller"). Pursuant to the Agreement, at the closing of the transactions contemplated in the Agreement (the "Transaction"), the Company will acquire 100% of the issued and outstanding capital stock of Hero Horse, making Hero Horse a wholly-owned subsidiary of the Company. There was no prior relationship between the Company and any of its affiliates and the Seller and any of his affiliates. Purchase Price In consideration for the purchase of the Seller's interest in Hero Horse, the Company will issue to the Seller a total of 228,887 newly issued shares of a new series of the Company's preferred stock, to be known as "Series A Preferred Stock". Each share of Series A Preferred Stock will be entitled to vote together with shareholders of the Company's common stock on all matters and will have the equivalent voting rights of 1,000 shares of common Stock. Further, each share of Series A Preferred Stock shall be convertible, at the option of the holder, into 1,000 shares of Company's Common Stock. Notwithstanding the foregoing, at the closing, the Seller will place into escrow twenty percent of the shares of Series A Preferred Stock issued to Seller at the closing (45,778 Series A Preferred shares), which will either be released to Seller or cancelled based upon certain revenue performance thresholds to be achieved by LeDi Electronic in 2009 and 2010. Specifically, in th...
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SECURELOGIC CORP Files SEC form 10-Q, Quarterly Report

Item 2. 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 Prior to the reversal of the acquisition of our SpaceLogic, Ltd. and SecureLogic, Ltd subsidiaries (the "Subsidiaries") on or about July 15, 2008 through the transfer of those Subsidiaries to the former owners of the Subsidiaries (the "Acquisition Reversal"), the Company was engaged in the business of developing and marketing systems that manage the movement of people and baggage through airports. Subsequent to the Acquisition Reversal, the Company is engaged in reconstituting its business plan to re-enter the homeland security marketplace through a combination of organic development, the acquisition of products and/or the acquisition of companies. In reading Management's Discussion and Analysis of Financial Condition and Results of Operations, the reader should keep in mind that the Company's financial statements reflect the treatment of the transfer of the Subsidiaries in the Acquisition Reversal as a discontinued operation and therefore, does not reflect the business of the Company after July 15, 2008 through the date of this Report. Results of Operations Total revenues for the three month periods ended March 31, 2009 and 2008 were $0 which reflects the discontinued operations of our Israeli subsidiary as a result of the Acquisition Reversal which occurred on July 15, 2008. Gross profit f...
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SECURELOGIC 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 Prior to the reversal of the acquisition of our SpaceLogic, Ltd. and SecureLogic, Ltd subsidiaries (the "Subsidiaries") on or about July 15, 2008 through the transfer of those Subsidiaries to the former owners of the Subsidiaries (the "Acquisition Reversal"), the Company was engaged in the business of developing and marketing systems that manage the movement of people and baggage through airports. Subsequent to the Acquisition Reversal, the Company is engaged in reconstituting its business plan to re-enter the homeland security marketplace through a combination of organic development, the acquisition of products and/or the acquisition of companies. In reading Management's Discussion and Analysis of Financial Condition and Results of Operations, the reader should keep in mind that the Company's financial statements reflect the treatment of the transfer of the Subsidiaries in the Acquisition Reversal as a discontinued operation and therefore, does not reflect the business of the Company after July 15, 2008 through the date of this Report. Results of Operations Total revenues...
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SECURELOGIC CORP Financials

Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback Quotes delayed, except where indicated otherwise.Delay times are 15 mins for NASDAQ, 20 mins for NYSE and Amex. See also delay times for other exchanges.Fundamental company data provided by Capital IQ. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. Real-...
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SECURELOGIC CORP Files SEC form 10-Q, Quarterly Report

Item 2. 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 Prior to the reversal of the acquisition of our SpaceLogic, Ltd. and SecureLogic, Ltd subsidiaries (the "Subsidiaries") on or about July 15, 2008 through the transfer of those Subsidiaries to the former owners of the Subsidiaries (the "Acquisition Reversal"), the Company was engaged in the business of developing and marketing systems that manage the movement of people and baggage through airports. Subsequent to the Acquisition Reversal, the Company is engaged in reconstituting its business plan to re-enter the homeland security marketplace through a combination of organic development, the acquisition of products and/or the acquisition of companies. In reading Management's Discussion and Analysis of Financial Condition and Results of Operations, the reader should keep in mind that the Company's financial statements reflect the treatment of the transfer of the Subsidiaries in the Acquisition Reversal as a discontinued operation and therefore, does not reflect the business of the Company after July 15, 2008 through the date of this Report. Results of Operations Total revenues for the three month period and nine month period ended September 30, 2008 were both $0, which reflects the discontinued operations of our Israeli subsidiary as a result of the Acquisition Reversal which occurred on July 15, 2008. In addition, ...
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SECURELOGIC CORP Files SEC form 10-Q, Quarterly Report

Item 2. 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 Prior to the reversal of the acquisition of our SpaceLogic, Ltd. and SecureLogic, Ltd subsidiaries (the "Subsidiaries") on or about July 15, 2008 through the transfer of those Subsidiaries to the former owners of the Subsidiaries (the "Acquisition Reversal"), the Company was engaged in the business of developing and marketing systems that manage the movement of people and baggage through airports. Subsequent to the Acquisition Reversal, the Company is engaged in reconstituting its business plan to re-enter the homeland security marketplace through a combination of organic development, the acquisition of products and/or the acquisition of companies. In reading Management's Discussion and Analysis of Financial Condition and Results of Operations, the reader should keep in mind that the Company's financial statements reflect the treatment of the transfer of the Subsidiaries in the Acquisition Reversal as a discontinued operation and therefore, does not reflect the business of the Company after July 15, 2008 through the date of this Report. Results of Operations Total revenues for the three month period and nine month period ended September 30, 2008 were both $0, which reflects the discontinued operations of our Israeli subsidiary as a result of the Acquisition Reversal which occurred on July 15, 2008. In addition, ...
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