April 01, 2002
STRATEGIC ALLIANCE GROUP INC (EUTOE)
Quarterly Report (SEC form 10QSB)
Item 2. Management's Discussion and Analysis or Plan of Operation. The following should be read in conjunction with the financial statements and notes thereto appearing in Item 1 of this Form. As shown in the Financial Statements, there is substantial doubt about the ability of Strategic Alliance Group, Inc. to continue as a going concern due to its continuing lack of liquidity.
It is unlikely that Strategic Alliance Group, Inc. can satisfy its cash requirements for the next 12 months without an infusion of additional funds or effecting a reverse merger.
Strategic Alliance Group, Inc. plans no product research or development.
Strategic has no permanent full time employees. There is no problem of significant changes or reductions in staff. No long term fixed contract exists with any temporary employment service.
In negotiating with a company in a possible merge we failed due to remaining preferred shares in the hands of the shareholders. To eliminate this problem with the next candidate represented by Windsor Group Securities, we solved the problem by having Mezzanine Finance Fund, LLC take the responsibility of satisfying the claims by the preferred shareholders (if any) and guaranteeing there would not be a liability to the new surviving company.
Compensation to Mezzanine Finance Fund, LLC for this contingent liability was 43,750,023 shares of common stock restricted according to the S.E.C. 144 Rules.
Mr. Wilkenson had recovered sufficiently from cancer to assume the responsibilities and duties of sole director of Strategic Alliance Group, Inc., formerly Eutro Group Holding, Inc., starting September 28, 2001. Therefore, he signed the Annual Report. |
