þ
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QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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o
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
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Delaware
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98-0568153
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(State of organization)
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(I.R.S. Employer Identification No.)
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Large Accelerated Filer | o | Non-Accelerated Filer | o |
Accelerated Filer | o | Smaller Reporting Company | þ |
(Do not check if a smaller reporting company) |
PAGE | |||||
PART I - FINANCIAL INFORMATION | |||||
ITEM 1.
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FINANCIAL STATEMENTS
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3 | |||
ITEM 2.
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MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
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12 | |||
ITEM 3.
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QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
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16 | |||
ITEM 4.
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CONTROLS AND PROCEDURES
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16 | |||
PART II - OTHER INFORMATION
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ITEM 1.
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LEGAL PROCEEDINGS
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17 | |||
ITEM 1A.
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RISK FACTORS
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17 | |||
ITEM 2.
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UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
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17 | |||
ITEM 3.
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DEFAULTS UPON SENIOR SECURITIES
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17 | |||
ITEM 4.
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MINE SAFETY DISCLOSURES
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17 | |||
ITEM 5.
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OTHER INFORMATION
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17 | |||
ITEM 6.
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EXHIBITS
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18 | |||
SIGNATURES
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19 | ||||
EXHIBIT 10.21
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EXHIBIT 31.1
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EXHIBIT 32.1
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BLINK COUTURE, INC.
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(A Development Stage Company)
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CONSOLIDATED BALANCE SHEETS
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January 31,
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July 31,
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|||||||
(in US$)
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2012
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2011
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||||||
(Unaudited)
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(Audited)
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|||||||
Current Assets
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||||||||
Cash
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$ | 0 | $ | 0 | ||||
Prepaid Expense
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12,500 | – | ||||||
Inventory
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– | – | ||||||
Total Current Assets
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12,500 | 0 | ||||||
Property and Equipment (net)
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– | – | ||||||
TOTAL ASSETS
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$ | 12,500 | $ | 0 | ||||
Current Liabilities
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||||||||
Accounts Payable
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$ | 315 | $ | 3,415 | ||||
Accrued Interest
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27,656 | 20,313 | ||||||
Notes Due to Related Parties
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299,709 | 226,973 | ||||||
Total Current Liabilities
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327,680 | 250,701 | ||||||
Total Liabilities
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327,680 | 250,701 | ||||||
Stockholders Deficiency
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||||||||
Preferred stock, ($.0001 par value, 20,000,000 shares authorized; none issued and outstanding)
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– | – | ||||||
Common stock, ($.0001 par value, 100,000,000 shares authorized; 393,169 shares outstanding as of January 31, 2012 and July 31, 2011)
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39 | 39 | ||||||
Additional Paid-in Capital
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73,687 | 73,687 | ||||||
Deficit accumulated during the development stage
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(388,906 | ) | (324,427 | ) | ||||
Total Stockholders Deficit
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(315,180 | ) | (250,701 | ) | ||||
Total Liabilities & Stockholders Deficiency
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$ | 12,500 | $ | 0 |
October 23, 2003 thru
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||||||||||||||||||||
3 Months Ended January 31,
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6 Months Ended January 31,
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January 31, 2012
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||||||||||||||||||
(in US$)
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2012
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2011
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2012
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2011
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Since Inception
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(Unaudited)
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(Unaudited)
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(Unaudited)
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(Unaudited)
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|||||||||||||||||
Revenues
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$ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Operating Expenses
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||||||||||||||||||||
Amortization
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– | – | – | – | 741 | |||||||||||||||
General and Administrative
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5,436 | 726 | 5,636 | 1,875 | 39,954 | |||||||||||||||
Management Fees
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10,000 | 10,000 | 20,000 | 20,000 | 167,500 | |||||||||||||||
Marketing
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– | – | – | – | 11,192 | |||||||||||||||
Professional Fees
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25,500 | 5,685 | 31,500 | 11,685 | 141,096 | |||||||||||||||
Rent
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– | – | – | – | 767 | |||||||||||||||
Total Operating Expenses
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40,936 | 16,411 | 57,136 | 33,560 | 361,250 | |||||||||||||||
Other Expenses
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Interest Expense
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3,916 | 2,605 | 7,343 | 4,957 | 27,656 | |||||||||||||||
Total Expenses
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44,852 | 19,016 | 64,479 | 38,517 | 388,906 | |||||||||||||||
Net Loss
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$ | (44,852 | ) | $ | (19,016 | ) | $ | (64,479 | ) | $ | (38,517 | ) | $ | (388,906 | ) | |||||
Basic Loss per share
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$ | (0.11 | ) | $ | (0.05 | ) | $ | (0.16 | ) | $ | (0.10 | ) | ||||||||
Weighted Average Shares
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393,169 | 393,169 | 393,169 | 393,169 |
October 23, 2003 thru
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||||||||||||||||||||
3 Months Ended January 31,
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6 Months Ended January 31,
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January 31, 2012
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(in US$)
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2012
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2011
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2012
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2011
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Since Inception
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(Unaudited)
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(Unaudited)
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(Unaudited)
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(Unaudited)
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|||||||||||||||||
Operating Activities
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Net Loss
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(44,852 | ) | (19,016 | ) | (64,479 | ) | (38,517 | ) | (388,906 | ) | ||||||||||
Amortization
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– | – | – | – | 741 | |||||||||||||||
Change in Operating Assets and Liabilities:
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||||||||||||||||||||
Increase in prepaid expenses
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– | – | (12,500 | ) | – | (12,500 | ) | |||||||||||||
Increase (decrease) in accounts payable
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– | (3,500 | ) | (3,100 | ) | (3,150 | ) | 315 | ||||||||||||
Increase in accrued interest
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3,916 | 2,605 | 7,343 | 4,957 | 27,656 | |||||||||||||||
Net cash used in operating activities
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(40,936 | ) | (19,911 | ) | (72,736 | ) | (36,710 | ) | (372,694 | ) | ||||||||||
Investing Activities
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Purchase of Property & Equipment
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– | – | – | – | (741 | ) | ||||||||||||||
Net cash used in investing activities
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– | – | – | – | (741 | ) | ||||||||||||||
Financing Activities
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||||||||||||||||||||
Increase in Notes Due to Related Parties
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40,936 | 19,911 | 72,736 | 36,710 | 299,709 | |||||||||||||||
Common Stock Issued for Services
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– | – | – | – | 300 | |||||||||||||||
Donated Capital
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– | – | – | – | 23,636 | |||||||||||||||
Proceeds from Common Stock
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– | – | – | – | 49,790 | |||||||||||||||
Net cash provided by financing activities
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40,936 | 19,911 | 72,736 | 36,710 | 373,435 | |||||||||||||||
Net (decrease) increase in Cash
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(0 | ) | – | (0 | ) | – | 0 | |||||||||||||
Cash Beginning of Period
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0 | (0 | ) | 0 | (0 | ) | – | |||||||||||||
Cash End of Period
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$ | 0 | $ | (0 | ) | $ | 0 | $ | (0 | ) | $ | 0 |
BLINK COUTURE, INC.
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(A Development Stage Company)
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CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY
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Common
Stock
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Amount
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Additional
Paid-in
Capital
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Deficit
Accumulated
During the
Development Stage
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Total
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||||||||||||||||
# | $ | $ | $ | $ | ||||||||||||||||
Balance – October 23, 2003 (Date of Inception)
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– | – | – | – | – | |||||||||||||||
October 25, 2003 – issue of common stock for services at $0.0001 per share
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45,717 | 5 | 235 | – | 240 | |||||||||||||||
July 25, 2004 – issue of common stock for services at $0.0001 per share
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342,876 | 34 | 1,766 | – | 1,800 | |||||||||||||||
Net loss for the period
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– | – | – | (3,075 | ) | (3,075 | ) | |||||||||||||
Balance – July 31, 2004
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388,593 | 39 | 2,001 | (3,075 | ) | (1,035 | ) | |||||||||||||
Net loss for the year
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– | – | – | (2,665 | ) | (2,665 | ) | |||||||||||||
Balance – July 31, 2005
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388,593 | 39 | 2,001 | (5,740 | ) | (3,700 | ) | |||||||||||||
June 23, 2006 – issue of common stock for cash at $0.20 per share
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2,552 | 0 | 26,800 | – | 26,800 | |||||||||||||||
July 26, 2006 – issue of common stock for cash at $0.20 per share
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1,352 | 0 | 14,200 | – | 14,200 | |||||||||||||||
July 26, 2006 – issue of common stock for services at $0.20 per share
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10 | 0 | 100 | – | 100 | |||||||||||||||
Net loss for the year
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– | – | – | (6,201 | ) | (6,201 | ) | |||||||||||||
Balance – July 31, 2006
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392,507 | 39 | 43,101 | (11,941 | ) | 31,199 | ||||||||||||||
August 23, 2006 – issue of common stock for cash at $0.20 per share
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595 | 0 | 6,250 | – | 6,250 | |||||||||||||||
August 23, 2006 – issue of common stock for services at $0.20 per share
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19 | 0 | 200 | – | 200 | |||||||||||||||
September 01, 2006 – issue of common stock for cash at $0.20 per share
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38 | 0 | 400 | – | 400 | |||||||||||||||
September 01, 2006 – issue of common stock for services at $0.20 per share
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10 | 0 | 100 | – | 100 | |||||||||||||||
Net loss for the year
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– | – | – | (42,764 | ) | (42,764 | ) | |||||||||||||
Balance – July 31, 2007
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393,169 | 39 | 50,051 | (54,705 | ) | (4,615 | ) | |||||||||||||
Donated capital
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– | – | 23,636 | – | 23,636 | |||||||||||||||
Net loss for the year
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– | – | – | (41,392 | ) | (41,392 | ) | |||||||||||||
Balance – July 31, 2008
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393,169 | 39 | 73,687 | (96,097 | ) | (22,371 | ) | |||||||||||||
Net loss for the year
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– | – | – | (59,121 | ) | (59,121 | ) | |||||||||||||
Balance – July 31, 2009
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393,169 | 39 | 73,687 | (155,218 | ) | (81,492 | ) | |||||||||||||
Net loss for the year
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– | – | – | (88,960 | ) | (88,960 | ) | |||||||||||||
Balance – July 31, 2010
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393,169 | 39 | 73,687 | (244,178 | ) | (170,452 | ) | |||||||||||||
Net loss for the year
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– | – | – | (80,249 | ) | (80,249 | ) | |||||||||||||
Balance – July 31, 2011
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393,169 | 39 | 73,687 | (324,427 | ) | (250,701 | ) | |||||||||||||
Net loss for the year
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– | – | – | (64,479 | ) | (64,479 | ) | |||||||||||||
Balance – January 31, 2012
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393,169 | 39 | 73,687 | (388,906 | ) | (315,180 | ) |
(i) | filing Exchange Act reports, and | |
(ii) | investigating, analyzing and consummating an acquisition. |
●
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failure to make timely filings with the SEC as required by the Exchange Act, which may also result in suspension of trading or quotation of our stock and could result in fines and penalties to us under the Exchange Act;
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●
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curtailing or eliminating our ability to locate and perform suitable investigations of potential acquisitions; or
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●
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inability to complete a desirable acquisition due to lack of funds to pay legal and accounting fees and acquisition-related expenses.
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Exhibit No.
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Description
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Sixth Amendment and Restatement of Loan Agreement and Promissory Note, dated as of January 31, 2012.
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Certification of Principal Executive Officer and Principal Financial Officer filed pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
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Certification of Principal Executive Officer and Principal Financial Officer furnished pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
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BLINK COUTURE, INC.
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Date: March 15, 2012
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By:
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/s/
Lawrence D. Field
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Lawrence D. Field,
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President, Chief Executive Officer, Chief Financial Officer and Secretary
(Principal Executive Officer and Principal Financial Officer)
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BLINK COUTURE, INC.
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By:
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/s/
Lawrence Field
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Name: Lawrence Field
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Title: President & CEO
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REGENT PRIVATE CAPITAL, LLC | |||
By: | /s/ Cindy S. Field | ||
Name: Cindy S. Field | |||
Title: Secretary |
Date: March 15, 2012
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By:
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/s/
Lawrence D. Field
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Lawrence D. Field
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Principal Executive Officer and Principal Financial Officer
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1)
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The Report complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
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2)
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The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
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Date: March 15, 2012
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By: |
/s/
Lawrence D. Field
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Lawrence D. Field
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Principal Executive Officer and Principal Financial Officer
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