Hogger:
...Of course, the fact does remain that your post would have mislead.
Which is why I corrected my error. Why do you repeat it?
I did not initially discover the filing since CYGS admits it made an error in its original submission.
If you go to freeedgar.com it finds no filings using a symbol search.
I was able to find the original and amended filing at the SEC's site using a CIK search.
Having said all that, the fact remains that the SEC still needs to review the filing to determine compliance.
Having taken the time this evening to review the submission, in my opinion it is materially deficient. Furthermore, the issued shares counts don't jive with what's been posted on this thread previously. Furthermore, the company - as of 6/30/99 - was running on empty in terms of cash.
STATEMENT OF CASH FLOWS
Six Months Ended June 30, 1999 and
the Period From February 10, 1995
(Date of Inception) to
June 30, 1999
(UNAUDITED)
<S> <C> <C>
Feb. 10, 1995
(Inception) to
June 30, '99 June 30, '99
OPERATING ACTIVITIES
Deficit from Operations $ (156,457.98) $ (396,679.70) Adjustments:
Depreciation Expense 5,123.60 15,094.34
Petty Cash 0.00 -600.00
Stock Subscriptions -19,735.00 (21,950.15)
Accounts Payable 31,666.78 35,414.36
Payroll Expense -2,528.06 3,339.50
Federal Income Tax Withheld -18.65 (18.65)
------------- -------------
Net cash provided by Operating Activities $ (141,949.31) (365,400.30)
INVESTING ACTIVITIES
Research and Development
Asset Acquisition $ (4,800.00) $ (33,818.02)
Development Stage Expenses -268,847.97 (767,280.97)
Deposits: Office Deposit 0.00 -510.00
Investment-Quantum Bit Induction Technolog -10,100.00 (10,100.00)
Organizational Expenses 0.00 -7,894.29
------------ ------------
Net cash provided by Investing Activities $(283,747.97) $ (819,603.28)
FINANCING ACTIVITIES ------------ -------------
Stockholders' Equity: Common Stock $ 20,677.22 $ 38,162.92
Stockholders' Equity: Paid-In Capital 308,292.78 1,251,777.55
Stockholders' Equity: Stock Warrants 25,000.00 25,000.00
Stockholders' Equity: Stock Expenses/Issua -30,581.80 -59,014.13
Stockholders' Equity: Treasury Stock -60,000.00 -60,000.00
------------ -------------
Net cash provided by Financing Activities $ 263,388.20 $1,195,926.34
------------ -------------
Net cash increase for period $(162,309.08) $ 10,922.76
Cash at Beginning of Period 173,231.84 -0-
------------ -------------
Cash at End of Period $ 10,922.76 $ 10,922.76
============ =============
Time will tell.
ww
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