VICTORIA INDUSTRIES INC Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT DISCUSSION AND ANALYSIS OF PRINCIPAL CONDITIONS AND OPERATIONS Discussion and Analysis of Financial Condition Results of Operations The continuation of the Company is dependent upon finding new business opportunities, continuing financial support of creditors and stockholders as well as obtaining long-term financing. Management plans to raise equity capital to finance the current cash requirements of the Company. Capital raised will be used to pay general corporate expenses and evaluate new business opportunities. While the Company is undertaking its best efforts to achieve the above plans, there is no assurance that any such activity will generate funds that will be sufficient to settle the outstanding liabilities and finance the on-going corporate expenses. If the Company is not successful in raising financing, the Company's may sustain continued losses. Cash Requirements The Company anticipates it will require around $100,000 to sustain operations and effectively evaluate new business opportunities over the next twelve months. The Company believes it will be able to raise these funds through equity and debt financing; however, there is no guarantee that funds will be raised. Going Concern These financial statements have been prepared on a going concern basis which assumes that adequate sources of financing will be obtained as required and that our assets will be realized and liabilities settled in the ordinary course of business. Accordingly, these consolidated financial statements do not include any adjustments related to the recoverability of assets and classification of assets and liabilities that might be necessary should we be unable to continue as a going concern. In order for us to continue as a going concern, we require additional financing. There can be no assurance that additional financing will be available to us when needed or, if available, that it can be obtained on commercially ...
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VICTORIA INDUSTRIES INC Financials

PERIOD ENDING30-Jun-0931-Mar-0931-Dec-0830-Sep-08Total Revenue -   -   -   -  Cost of Revenue -   -   -   -  Gross Profit -   -   -   -  Operating ExpensesResearch Development -   -   -   -  Selling General and Administrative3  7  2  7  Non Recurring -   -   -   -  Others -   -   -   -  Total Operating Expenses -   -   -   -  Operating Income or Loss(3)(7)(2)(7)Income from Continuing OperationsTotal Other Income/Expenses Net -   -   -   -  Earnings Before Interest And Taxes(3)(7)(2)(7)Interest Expense -   -   -   -  Income Before Tax(3)(7)(2)(7)Income Tax Expense -   -   -   -  Minority Interest -   -   -   -  Net Income From Continuing Ops(3)(7)(2)(7)Non-recurring EventsDiscontinued Operations -   -   -   -  Extraordinary Items -   -   -   -  Effect Of Acco...
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VICTORIA INDUSTRIES INC Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT DISCUSSION AND ANALYSIS OF PRINCIPAL CONDITIONS AND OPERATIONS Discussion and Analysis of Financial Condition Results of Operations The continuation of the Company is dependent upon finding new business opportunities, continuing financial support of creditors and stockholders as well as obtaining long-term financing. Management plans to raise equity capital to finance the current cash requirements of the Company. Capital raised will be used to pay general corporate expenses and evaluate new business opportunities. While the Company is undertaking its best efforts to achieve the above plans, there is no assurance that any such activity will generate funds that will be sufficient to settle the outstanding liabilities and finance the on-going corporate expenses. If the Company is not successful in raising financing, the Company's may sustain continued losses. Cash Requirements The Company anticipates it will require around $100,000 to sustain operations and effectively evaluate new business opportunities over the next twelve months. The Company believes it will be able to raise these funds through equity and debt financing; however, there is no guarantee that funds will be raised. Going Concern These financial statements have been prepared on a going concern basis which assumes that adequate sources of financing will be obtained as required and that our assets will be realized and liabilities settled in the ordinary course of business. Accordingly, these consolidated financial statements do not include any adjustments related to the recoverability of assets and classification of assets and liabilities that might be necessary should we be unable to continue as a going concern. In order for us to continue as a going concern, we require additional financing. There can be no assurance that additional financing will be available to us when needed or, if available, that it can be obtained on commercially ...
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VICTORIA INDUSTRIES INC Files SEC form 10-K/A, Annual Report

ITEM 6. MANAGEMENT DISCUSSION AND ANALYSIS OF PRINCIPAL CONDITION AND OPERATIONS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION OVERVIEW Upon sale of Victoria Resources, Inc. we returned to a development stage company status. It is anticipated that we will require only nominal capital to maintain our corporate viability and the necessary funds will most likely be provided by our principal shareholder or our officers and directors in the immediate future. However, in the event we do not identify and complete an acquisition of an operating business and/or do not raise significant outside financing, there is substantial doubt about our ability to continue as a viable corporation. Going Concern - These consolidated financial statements have been prepared on a going concern basis which assumes that adequate sources of financing will be obtained as required and that our assets will be realized and liabilities settled in the ordinary course of business. Accordingly, these consolidated financial statements do not include any adjustments related to the recoverability of assets and classification of assets and liabilities that might be necessary should we be unable to continue as a going concern. In order to continue as a going concern, the Company requires additional financing. There can be no assurance that additional financing will be available to us when needed or, if available, that it can be obtained on commercially reasonable terms. If the Company is not able to continue as a going concern, it would likely be unable to realize the carrying value of the Company's assets reflected in the balances set out in the preparation of consolidated financial statements. The Company's limited revenue history, high concentration of credit risk in consequence of its dependence on a single major customer and limited funding raise substantial doubt about the Company's ability to continue as a going concern. PLAN OF OPERATION We have sought and we plan to co...
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VICTORIA INDUSTRIES INC Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT DISCUSSION AND ANALYSIS OF PRINCIPAL CONDITIONS AND OPERATIONS Discussion and Analysis of Financial Condition Results of Operations The continuation of the Company is dependent upon finding new business opportunities, continuing financial support of creditors and stockholders as well as obtaining long-term financing. Management plans to raise equity capital to finance the current cash requirements of the Company. Capital raised will be used to pay general corporate expenses and evaluate new business opportunities. While the Company is undertaking its best efforts to achieve the above plans, there is no assurance that any such activity will generate funds that will be sufficient to settle the outstanding liabilities and finance the on-going corporate expenses. If the Company is not successful in raising financing, the Company's may sustain continued losses. Cash Requirements The Company anticipates it will require around $100,000 to sustain operations and effectively evaluate new business opportunities over the next twelve months. The Company believes it will be able to raise these funds through equity and debt financing; however, there is no guarantee that funds will be raised. Going Concern These financial statements have been prepared on a going concern basis which assumes that adequate sources of financing will be obtained as required and that our assets will be realized and liabilities settled in the ordinary course of business. Accordingly, these consolidated financial statements do not include any adjustments related to the recoverability of assets and classification of assets and liabilities that might be necessary should we be unable to continue as a going concern. In order for us to continue as a going concern, we require additional financing. There can be no assurance that additional financing will be available to us when needed or, if available, that it can be obtained on commercially ...
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VICTORIA INDUSTRIES INC Files SEC form 10-K, Annual Report

ITEM 6. MANAGEMENT DISCUSSION AND ANALYSIS OF PRINCIPAL CONDITION AND OPERATIONS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION OVERVIEW Upon sale of Victoria Resources, Inc. we returned to a development stage company status. It is anticipated that we will require only nominal capital to maintain our corporate viability and the necessary funds will most likely be provided by our principal shareholder or our officers and directors in the immediate future. However, in the event we do not identify and complete an acquisition of an operating business and/or do not raise significant outside financing, there is substantial doubt about our ability to continue as a viable corporation. Going Concern - These consolidated financial statements have been prepared on a going concern basis which assumes that adequate sources of financing will be obtained as required and that our assets will be realized and liabilities settled in the ordinary course of business. Accordingly, these consolidated financial statements do not include any adjustments related to the recoverability of assets and classification of assets and liabilities that might be necessary should we be unable to continue as a going concern. In order to continue as a going concern, the Company requires additional financing. There can be no assurance that additional financing will be available to us when needed or, if available, that it can be obtained on commercially reasonable terms. If the Company is not able to continue as a going concern, it would likely be unable to realize the carrying value of the Company's assets reflected in the balances set out in the preparation of consolidated financial statements. The Company's limited revenue history, high concentration of credit risk in consequence of its dependence on a single major customer and limited funding raise substantial doubt about the Company's ability to continue as a going concern. PLAN OF OPERATION We have sought and we plan to co...
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VICTORIA INDUSTRIES INC Files SEC form 8-K, Change in Directors or Principal Officers

Show all filings for VICTORIA INDUSTRIES INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for VICTORIA INDUSTRIES INC 5-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 pu...
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VICTORIA INDUSTRIES INC Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT DISCUSSION AND ANALYSIS OF PRINCIPAL CONDITIONS AND OPERATIONS Discussion and Analysis of Financial Condition Results of Operations Effective from July 1, 2007 the Russian Federation significantly raised the export tariffs for logs and unprocessed lumber that was the main product sold by the Company to its Chinese customers. In addition the Company's competitive position was affected by the sharp strengthening of the Russian Rouble against the US dollar by 8.5% in 2006 and 5.2% during 9 months of 2007. As a result, the Company's business model became unviable and no deliveries took place in third quarter of 2007. During third quarter of 2007, the Company made multiple attempts to salvage the timber trading business by seeking more favorable pricing terms from its suppliers. However, all these attempts have proved unsuccessful. As a result of the above events, the Company believes that its log and unprocessed timber trading business did not have significant value and decided to discontinue and abandon its entire investment in Victoria Resources, Inc. After the decision was made to dispose of the business, and the transaction terms were negotiated, the disposed segment has been unable to collect its accounts receivable due to the inability of the Company to continue transacting its lumber trading business. On November 30, 2007, Victoria Industries, Inc. (the "Company") entered into a Share Exchange Agreement to sell the Company's entire 100% interest in Victoria Resources, Inc. to certain stockholders of Victoria Industries, Inc. for 406,254 shares of Victoria Industries, Inc. In addition, the purchasers have agreed to assume the outstanding loans of Victoria Industries, Inc. Upon consummation of the transaction, the Company did not have any on-going business operations and returned to the development stage. The continuation of the Company is dependent upon finding new business opportunities, continuing financial ...
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VICTORIA INDUSTRIES INC Files SEC form 8-K, Changes in Control or Registrant

Show all filings for VICTORIA INDUSTRIES INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for VICTORIA INDUSTRIES INC 28-Oct-2008Changes in Control or Registrant 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 purposes on...
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