10-Q 1 clsr_10q-sept30.htm FORM 10-Q clsr_10q-sept30.htm - Generated by SEC Publisher for SEC Filing

 

.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10–Q

(Mark One)

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended September 30, 2012

 

or

[   ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from ____________ to ________________

 

Commission file number: 333-174155

 

Clear System Recycling, Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Nevada

 

27-4673791

(State or other jurisdiction of incorporation or organization)

 

(I.R.S. Employer Identification No.)

 

 

 

73 Raymar Place, Oakville, Ontario L6J 6M1

(Address of principal executive offices)

 

1-905-302-3843

(Registrant’s telephone number, including area code)

 

 

 

(Former name, former address and former fiscal year, if changed since last report)

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes [X]  No [] 

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  Yes [ X ] No [  ] 

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act (Check one).

 

Large accelerated filer [ ]

 

Accelerated filer [ ]

 

 

 

Non-accelerated filer [ ]

 

Smaller reporting company [X]

(Do not check if a smaller reporting company)

 

 

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ X ] No [  ]

 

As of November 9, 2012, there were 36,750,000 shares of the issuer’s common stock, par value $0.001, outstanding. 

 


 

 

PART 1 – FINANCIAL INFORMATION

Item 1.  Financial Statements

 

 

 

 

 

CLEAR SYSTEM RECYCLING, INC.

(A Development Stage Company)

 

 

INDEX TO CONDENSED INTERIM UNAUDITED FINANCIAL STATEMENTS

 

 

From Inception on January 24, 2011 through September 30, 2012

 

                         

 

Page

 

 

Condensed Balance Sheets

3

 

 

Condensed Statements of Operations

4

 

 

Condensed Statements of Cash Flows

5

 

 

Notes to the Condensed Interim Financial Statements

6

 

 

_______________________________________

 

 

 

 

 

 

 

 

 

 

2


 

 

 

CLEAR SYSTEM RECYCLING, INC.

(A Development Stage Company)

Condensed Balance Sheets

 

 

 

 

 

 

 

 

 

September 30,

2012

 

December 31,

2011

ASSETS

 

(Unaudited)

 

 

Current Assets

 

 

 

 

Cash and cash equivalents

$

-

$

19,642

Prepaid fees

 

-

 

1,500

Total Current Assets

 

-

 

21,142

 

 

 

 

 

TOTAL ASSETS

$

-

$

21,142

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)

 

 

 

 

 

 

 

 

 

LIABILITIES

 

 

 

 

Current Liabilities

 

 

 

 

Accounts payable

$

18,682

$

200

Due to related party

 

20,492

 

-

Total Current Liabilities

 

39,174

 

200

 

 

 

 

 

TOTAL LIABILITIES

 

39,174

 

200

 

 

 

 

 

STOCKHOLDERS’ EQUITY (DEFICIT)

 

 

 

 

Preferred stock, par value $0.001, 15,000,000 shares

authorized, none issued and outstanding

 

-

 

-

Common Stock, par value $0.001, 100,000,000 shares

authorized, 36,750,000 shares issued and outstanding

 

36,750

 

36,750

Additional paid-in capital

 

20,250

 

20,250

Deficit accumulated during the development stage

 

(96,174)

 

(36,058)

Total Stockholders’ Equity (Deficit)

 

(39,174)

 

20,942

 

 

 

 

 

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)

$

-

$

21,142

 

 

 

 

 

 

 

The accompanying condensed notes are an integral part of these unaudited financial statements

3


 

 

 

CLEAR SYSTEM RECYCLING, INC.

(A Development Stage Company)

Condensed Statements of Operations

(Unaudited)

 

 

Three Months Ended

September 30,

 

 

 

 

 

Nine Months Ended

September 30,

 

From Inception on January 24, 2011 to

September 30,

 

Cumulative

From Inception on

January 24, 2011 to

September 30,

 

 

2012

 

2011

 

2012

 

2011

 

2012

 

 

 

 

 

 

 

 

 

 

 

REVENUES:

$

-

$

-

$

-

$

-

$

-

 

 

 

 

 

 

 

 

 

 

 

OPERATING EXPENSES:

 

 

 

 

 

 

 

 

 

 

General and administrative

 

265

 

314

 

9,157

 

4,444

 

14,047

Professional fees

 

14,565

 

15,388

 

50,959

 

26,154

 

82,127

Total Operating Expenses

 

14,830

 

15,702

 

60,116

 

30,598

 

96,174

 

 

 

 

 

 

 

 

 

 

 

OTHER INCOME AND EXPENSE

 

-

 

-

 

-

 

-

 

-

 

 

 

 

 

 

 

 

 

 

 

Net Loss

$

(14,830)

$

(15,702)

$

(60,116)

$

(30,598)

$

(96,174)

 

 

 

 

 

 

 

 

 

 

 

Basic and Diluted Loss per Common Share

$

(0.00)

 

$

 

(0.00)

 

$

 

(0.00)

 

$

 

(0.00)

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and Diluted Weighted Average Number of Common Shares Outstanding

 

36,750,000

 

 

31,698,375

 

 

36,750,000

 

 

28,380,000

 

 

 

 

The accompanying condensed notes are an integral part of these unaudited financial statements.

4


 

 

CLEAR SYSTEM RECYCLING, INC.

(A Development Stage Company)

Condensed Statements of Cash Flows

(Unaudited)

 

  

 

Nine Months

Ended

September 30,

 

From Inception on January 24, 2011 to

September 30,

 

Cumulative

From Inception on

January 24, 2011 to

September 30,

 

2012

 

2011

 

2012

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM OPERATING ACTIVITIES

 

 

 

 

 

 

 

 

Net loss

$

(60,116)

 

$

(30,598)

 

$

(96,174)

Adjustment to reconcile net loss to

net cash used in operating activities:

 

 

 

 

 

 

 

 

Prepaid expenses

 

1,500

 

 

(2,250)

 

 

-

Accounts payable

 

18,482

 

 

1,454

 

 

18,682

Net cash used in operating activities

 

(40,134)

 

 

(31,394)

 

 

(77,492)

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM INVESTING ACTIVITIES

 

 

 

 

 

 

 

 

Net cash provided by (used in) investing activities

 

-

 

 

-

 

 

-

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM FINANCING ACTIVITIES

 

 

 

 

 

 

 

 

Issuance of common stock for cash

 

-

 

 

57,000

 

 

57,000

Proceeds from related party

 

20,492

 

 

-

 

 

20,492

Net cash provided by financing activities

 

20,492

 

 

57,000

 

 

77,492

 

 

 

 

 

 

 

 

 

Net increase (decrease) in cash and cash equivalents

 

(19,642)

 

 

25,606

 

 

-

 

 

 

 

 

 

 

 

 

Cash and cash equivalents - beginning of period

 

19,642

 

 

-

 

 

-

 

 

 

 

 

 

 

 

 

Cash and cash equivalents - end of period

$

-

 

$

25,606

 

$

-

 

 

 

 

 

 

 

 

 

Supplemental Cash Flow Disclosure:

 

 

 

 

 

 

 

 

Cash paid for interest

$

-

 

$

-

 

$

-

Cash paid for income taxes

$

-

 

$

-

 

$

-

 

 

 

 

 

 

 

 

 

                                                 

 

The accompanying condensed notes are an integral part of these audited financial statements.

 

5


 

 

CLEAR SYSTEM RECYCLING, INC.

(A Development Stage Company)

Notes to Condensed Interim Financial Statements

September 30, 2012

 

NOTE 1 -  CONDENSED FINANCIAL STATEMENTS

 

The accompanying financial statements have been prepared by the Company without audit.  In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at September 30, 2012, and for all periods presented herein, have been made.

 

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted.  It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company's December 31, 2011 audited financial statements.  The results of operations for the period ended September 30, 2012 are not necessarily indicative of the operating results for the full years.

 

NOTE 2 -  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Development Stage Company

 

The Company is considered to be in the development stage as defined in Accounting Standards Codification (ASC) 915 “Development Stage Entities.”  The Company is devoting substantially all of its efforts to development of business plans.

 

Use of Estimates

 

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period.  Actual results could differ from those estimates. The Company’s periodic filings with the Securities and Exchange Commission include, where applicable, disclosures of estimates, assumptions, uncertainties and markets that could affect the financial statements and future operations of the Company.

Cash and Cash Equivalents

 

Cash and cash equivalents include cash in banks, money market funds, and certificates of term deposits with maturities of less than three months from inception, which are readily convertible to known amounts of cash and which, in the opinion of management, are subject to an insignificant risk of loss in value.  The Company had $Nil and $19,642 in cash and cash equivalents at September 30, 2012 and December 31, 2011, respectively.

 

Fair value of financial instruments

 

The carrying amounts reported in the balance sheet for accounts payable approximate fair value because of their immediate or short term maturity.

 

Start-Up Costs

 

In accordance with ASC 720, “Start-up Activities”, the Company expenses all costs incurred in connection with the start-up and organization of the Company.

 

6


 

 

 

Net Income or (Loss) Per Share of Common Stock

 

The Company has adopted ASC 260, “Earnings per Share,” (“EPS”) which requires presentation of basic and diluted EPS on the face of the income statement for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation.  In the accompanying financial statements, basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period.

 

The following table sets forth the computation of basic and diluted earnings per share, for the periods specified:

 

 

 

Three Months Ended

September 30,

 

 

Nine Months September 30,

 

From Inception on January 24, 2011 to September 30,

 

2012

 

2011

 

2012

 

2011

Net loss

$

(14,830)

$

(15,702)

$

(60,116)

$

(30,598)

 

 

 

 

 

 

 

 

 

Weighted average common

 

 

 

 

 

 

 

 

shares outstanding (Basic)

 

36,750,000

 

31,698,375

 

36,750,000

 

28,380,000

Weighted average common

 

 

 

 

 

 

 

 

Shares outstanding (Diluted)

 

36,750,000

 

31,698,375

 

36,750,000

 

28,380,000

 

 

 

 

 

 

 

 

 

Net loss per share (Basic and Diluted)

 

$

(0.00)

 

$

 

(0.00)

 

$

 

(0.00)

 

$

(0.00)

 

The Company has no potentially dilutive securities, such as options or warrants, currently issued and outstanding.

 

Concentrations of Credit Risk

 

The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and cash equivalents and related party payables it will likely incur in the near future.  The Company places its cash and cash equivalents with financial institutions of high credit worthiness.  At times, its cash and cash equivalents with a particular financial institution may exceed any applicable government insurance limits.  The Company’s management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited.

 

Revenue Recognition

 

The Company recognizes revenue from the sale of services in accordance with ASC 605, “Revenue Recognition.”  Revenue will consist of consulting and professional fees and will be recognized only when all of the following criteria have been met:

 

i)         Persuasive evidence for an agreement exists;

ii)        Service has been provided;

iii)       The fee is fixed or determinable; and

iv)       Revenue is reasonably assured.

 

Recent Accounting Pronouncements

 

Except for rules and interpretive releases of the SEC under authority of federal securities laws and a limited number of grandfathered standards, the FASB Accounting Standards Codification™ (“ASC”) is the sole source of authoritative GAAP literature recognized by the FASB and applicable to the Company.  Management has reviewed the aforementioned rules and releases and believes any effect will not have a material impact on the Company's present or future consolidated financial statements.

7


 

 

 

 

NOTE 3 -   CAPITAL STOCK

Authorized Stock

 

The Company has authorized 100,000,000 common shares and 15,000,000 preferred shares, both with a par value of $0.001 per share.  Each common share entitles the holder to one vote, in person or proxy, on any matter on which action of the stockholders of the corporation is sought.

 

Share Issuance

 

Effective June 28, 2012, the Company effected a 12.5 for 1 forward split on its common stock outstanding in the form of a dividend, under which each stockholder of record on that date received 11.5 additional shares of the Corporation’s $0.001 par value common stock for every one (1) share owned.

 

Since its inception (January 24, 2011), the Company has issued shares of its common stock as follows, retroactively adjusted to give effect to the 12.5 for 1 forward split:

 

Date

Description

Shares

 

Price per share

 

Amount

 

 

 

 

 

 

 

Jan. 27, 2011

Shares issued for cash

25,000,000

$

0.0004

$

10,000

March – October, 2011

Shares issued for cash

11,750,000

 

0.004

 

47,000

 

 

 

 

 

 

 

September 30, 2012

Cumulative Totals

36,750,000

 

 

$

57,000

 

There were 36,750,000 common shares issued and outstanding at September 30, 2012 and December 31, 2011, respectively.  Of these shares, 25,000,000 were issued to directors and officers of the Company.  

There are no preferred shares outstanding.  The Company has issued no authorized preferred shares.  The Company has no stock option plan, warrants or other dilutive securities.

NOTE 4 -   DUE TO RELATED PARTY

 

During the period ended September 30, 2012, a related party paid Company expenses in the amount of $20,492.  The payable is unsecured, non-interest bearing and due on demand loanAs of the end of the period the Company has a balance due to the related party of $20,492.

 

NOTE 5 -  GOING CONCERN AND LIQUIDITY CONSIDERATIONS 

 

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business.  As at September 30, 2012, the Company has a loss from operations of $60,116 an accumulated deficit of $96,174 and has earned no revenues since inception.  The Company intends to fund operations through equity financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the year ending December 31, 2012.

 

The ability of the Company to emerge from the development stage is dependent upon, among other things, obtaining additional financing to continue operations, and development of its business plan.  In response to these problems, management intends to raise additional funds through public or private placement offerings.

 

These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern.  The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty.

8


 

 

 

 

NOTE 6 -  SUBSEQUENT EVENTS

 

In accordance with ASC 855-10, Company management reviewed all material events through the date of this report and determined that there are no material subsequent events to report

 

9


 

 

ITEM 2.                MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

 

Forward-Looking Statements

 

Except for historical information, this report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.  Such forward-looking statements involve risks and uncertainties, including, among other things, statements regarding our business strategy, future revenues and anticipated costs and expenses.  Such forward-looking statements include, among others, those statements including the words “expects,” “anticipates,” “intends,” “believes” and similar language.  Our actual results may differ significantly from those projected in the forward-looking statements.  Factors that might cause or contribute to such differences include, but are not limited to, those discussed herein as well as in the “Description of Business – Risk Factors” section in our Prospectus on Form 424B2, as filed on July 13, 2011.  You should carefully review the risks described in our Prospectus and in other documents we file from time to time with the Securities and Exchange Commission.  You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this report.  We undertake no obligation to publicly release any revisions to the forward-looking statements or reflect events or circumstances after the date of this document.

 

Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements.

 

All references in this Form 10-Q to the “Company,” “Clear System,” “we,” “us,” or “our” are to Clear System Recycling, Inc.

 

Results of Operations

 

We have not commenced operations and have generated no revenues to date.

 

We incurred operating expenses of $60,116 for the nine months ended September 30, 2012. These expenses consisted of professional fees and general operating expenses.

 

Our net loss from inception (January 24, 2011) through September 30, 2012 was $96,174.

 

Liquidity and Capital Resources            

 

The report of our auditors on our audited financial statements  for the period ended December 31, 2011, contains a going concern qualification as we have suffered losses since our inception.  We have minimal assets and have not achieved operating revenues since our inception.  We have depended on sales of equity securities to conduct operations.

Our cash balance at September 30, 2012, was $nil. 

 

During June 2012 the Company approved a 12.5 for 1 forward stock split for its common stock. As a result, stockholders of record at the close of business on June 28, 2012, received 11.5 additional shares of common stock for every one share held. Common stocks, additional paid-in capital, share and per share data for prior periods have been restated to reflect the stock split as if it had occurred at the beginning of the earliest period presented.

 

Cash provided by financing activities for the period from inception (January 24, 2011) through September 30, 2012, was $77,492.  Since inception (January 24, 2011) to September 30, 2012, the Company has issued 25,000,000 common shares for $10,000 in cash, and 11,750,000 common shares for $47,000 in cash, for total cash proceeds of $57,000, being $36,750 for par value shares and $20,250 for capital in excess of par value.  There were 36,750,000 common shares issued and outstanding at September 30, 2012 and December 31, 2011, respectively.  Of these shares, 25,000,000 were initially issued to directors and officers of the Company.

 

We do not have sufficient funds to implement our business plan and will seek alternative sources of funds and business opportunities.

 

10


 

 

Plan of Operation

Clear System is a development stage company that has limited operations, no revenue and limited assets.  Our plan was to develop a hospital-based business offering waste divergence programs and strategies to help hospitals better recycle.  The Company intended to play an educational role bringing hospital administrators, staff, and recycling professionals together to formulate workable conservation solutions.  Professional fees and retainers were to be charged for our services, and incentives attached to performance.  A specific referral program was planned, whereby whenever a partner hospital successfully referred our services to another, financial as well as value-added incentives were to be returned to the partner hospital. Because of a lack of sufficient funds, we could not proceed with our business plan.

We intend, therefore, to pursue other business opportunities and alternative sources of funding. On May 31, 2012, the Company entered into a non-binding Memorandum of Understanding to merge with Masterpiece Investment Corp. (“MIC”). On September 28, 2012, the Memorandum of Understanding was terminated by mutual agreement of the parties.

On September 20, 2012, we entered into a Memorandum of Understanding to acquire all of the issued and outstanding shares of CI Holdings, Incorporated (“CI”), an Oregon corporation, the holding company for Chiurazzi Internazionale S.r.l., an Italian corporation. The Memorandum of Understanding is subject to appropriate legal and accounting due diligence, as well as board and shareholder approval, in order to complete a definitive agreement between the parties. Chiurazzi Internazionale S.r.l. owns and operates the Chiurazzi Foundry based in Casoria, Italy, which houses the world renowned Chiurazzi Mould Collection.  The collection, comprised of more than 1,650 artistic bronze sculpture mould taken from original marble masterpieces housed in many of the most famous museums in the world, is essentially the national archive of Italian sculpture and artifacts.

As described in our reports on Form 8-K filed with the SEC on June 6, 2012 and June 15, 2012 our sole officer and director, Ms. Min Zou resigned during the period covered by these reports, and Messrs. Arthur J. Carter and Michael Noonan were appointed to serve as our officers and directors.

Effective June 28, 2012, the Company effected a 12.5 for 1 forward split on its common stock outstanding in the form of a dividend, under which each stockholder of record on that date received 11.5 additional shares of the Company’s $0.001 par value common stock for every one (1) share owned.

Off-Balance Sheet Arrangements

 

We have never entered into any off-balance sheet financing arrangements and have not formed any special purpose entities.  We have not guaranteed any debt or commitments of other entities or entered into any options on non-financial assets.

 

ITEM 3.            QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

 

Not applicable.

 

ITEM 4.                CONTROLS AND PROCEDURES

 

Evaluation of Our Disclosure Controls

 

Under the supervision and with the participation of our senior management, including our chief executive officer and chief financial officer, we conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), as of the end of the period covered by this quarterly report (the “Evaluation Date”).  Based on this evaluation, our chief executive officer and chief financial officer concluded as of the Evaluation Date that our disclosure controls and procedures were effective such that the information relating to us, required to be disclosed in our Securities and Exchange Commission (“SEC”) reports (i) is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms, and (ii) is accumulated and communicated to our management, including our chief executive officer and chief financial officer, as appropriate to allow timely decisions regarding required disclosure.

 

11


 

 

Changes in Internal Control Over Financial Reporting

 

There have been no changes in our internal control over financial reporting that occurred during the quarter ended September 30, 2012, that have materially affected or are reasonably likely to materially affect our internal control over financial reporting.

 

PART II – OTHER INFORMATION

 

ITEM 1.                LEGAL PROCEEDINGS

 

In the ordinary course of our business, we may from time to time become subject to routine litigation or administrative proceedings which are incidental to our business. We are not a party to nor are we aware of any existing, pending or threatened lawsuits or other legal actions involving us.

 

ITEM 1A.             RISK FACTORS

 

Not applicable.

 

ITEM 2.            UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

 

We did not issue unregistered equity securities during the quarter ended September 30, 2012.

 

ITEM 3.                DEFAULTS UPON SENIOR SECURITIES

 

None.

 

ITEM 4.                MINE SAFETY DISCLOSURES

 

None.

 

ITEM 5.                OTHER INFORMATION

 

None.

 

ITEM 6.                EXHIBITS

 

The following exhibits are included as part of this report:

 

Exhibit No.                            Description   

 

31.1 / 31.2                     Rule 13(a)-14(a)/15(d)-14(a) Certification of Principal Executive and Financial Officer

32.1 / 32.2                     Rule 1350 Certification of Principal Executive and Financial Officer

101.INS*                       XBRL Instance

101.SCH*                     XBRL Taxonomy Extension Schema

101.CAL*                     XBRL Taxonomy Extension Calculations

101.DEF*                      XBRL Taxonomy Extension Definitions

101.LAB*                     XBRL Taxonomy Extension Labels

102.PRE*                      XBRL Taxonomy Extension Presentation

 

*     XBRL information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

12


 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

 

CLEAR SYSTEM RECYCLING, INC.

 

 

Dated:  November 12, 2012                                              By: /s/ Arthur John Carter

Arthur John Carter
President and Principal Executive Officer

 

 

 

 

Dated:  November 12, 2012                                              By: /s/ Michael D. Noonan

Michael D. Noonan
Chief Financial Officer and Principal Financial Officer