QUAD M SOLUTIONS, INC. – 10 KT OF OPERATIONS
The following discussion and analysis of our financial condition and results of operations should be read in conjunction with the “Financial Statements and Supplementary Data” and our consolidated financial statements, accompanying notes and other financial information contained in this report. annual. In addition to historical consolidated financial information, the following discussion contains forward-looking statements that reflect our plans, estimates and beliefs that involve significant risks and uncertainties. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to these differences include those discussed below and elsewhere in this annual report, particularly under “Risk Factors” and “Forward-Looking Statements”.
Overview
The Company, through its two wholly owned subsidiaries, NuAxess and PR345 n/k/a
Results of Operations
Comparison of the three-month period ended
Revenue
During the three-month period ended
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Operating expenses for the three-month period ended
Working Capital
The Company’s net loss for the three-month period ended
increase in net loss for the three-month period ended
During the three-month period ended
Net cash used by operating activities totaled
Net cash used by investing activities totaled
Net cash provided by financing activities totaled
As shown in our accompanying financial statements, except for approximately
In addition to our operating expenses, which average approximately
Dividend Policy
We have never declared or paid, and do not plan to declare or pay, any cash dividends on any of our equity securities. We do not expect to pay dividends for the foreseeable future and we currently intend to retain all available funds and all future earnings for use in the operation of our business and to fund the growth and development of our business. Future decisions as to the declaration and payment of dividends, if any, will be at the discretion of our Board of Directors and will depend on conditions then existing, including our results of operations, financial condition, contractual restrictions, capital requirements, business prospects and other factors our Board of Directors may deem relevant. Our loan agreements limit our ability to pay dividends or make other distributions or payments on our common stock, in each case subject to certain exceptions.
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Off-balance sheet arrangements
The Company has not entered into any off-balance sheet transactions or arrangements.
Recent accounting pronouncements
Recent accounting pronouncements likely to affect the Company are described in Note 2 – Summary of significant accounting policies, sub-section “New accounting requirements and disclosures” in the annual financial statements below.
Limitations on Liability and Indemnification
We intend to amend our articles of association to contain provisions which limit the liability of our current and former directors for monetary damages to the fullest extent permitted by
Our amended articles will further authorize us to indemnify our directors, officers, employees and other agents to the fullest extent permitted by
straight. We intend that our amended articles of association will also provide that, subject to the satisfaction of certain conditions, we will advance the expenses incurred by a director or officer before the final determination of any action or proceeding, and allow us to obtain insurance on behalf of any officer, director, employee or other agent for any liability arising out of his actions as such, whether or not we are entitled to indemnify him under the provisions of
Limitation of liability and indemnification provisions in our amended articles may discourage shareholders from taking legal action against our directors for breach of fiduciary duty. They can also reduce the likelihood of derivative litigation against our directors and officers, even though an action, if successful, could benefit us and other shareholders. In addition, a shareholder’s investment may be adversely affected to the extent that we pay settlement costs and damages against directors and officers as required by these indemnification provisions.
To the extent that indemnification of liability under the Securities Act may be permitted for directors, officers or persons controlling us, we have been informed that, in the opinion of the
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