cambridgeform10qmarch2012.htm - Generated by SEC Publisher for SEC Filing

0001528308-12-000011.txt : 20120517 0001528308-12-000011.hdr.sgml : 20120517 20120517134218 ACCESSION NUMBER: 0001528308-12-000011 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 9 CONFORMED PERIOD OF REPORT: 20120331 FILED AS OF DATE: 20120517 DATE AS OF CHANGE: 20120517 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CAMBRIDGE PROJECTS INC. CENTRAL INDEX KEY: 0001528308 STANDARD INDUSTRIAL CLASSIFICATION: BLANK CHECKS [6770] IRS NUMBER: 450713638 FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-54485 FILM NUMBER: 12851262 BUSINESS ADDRESS: STREET 1: 10300 WEST CHARLESTON 10-56 CITY: LAS VEGAS STATE: NV ZIP: 89135 BUSINESS PHONE: 7026664298 MAIL ADDRESS: STREET 1: 10300 WEST CHARLESTON 10-56 CITY: LAS VEGAS STATE: NV ZIP: 89135 10-Q 1 cambridgeform10qmarch2012.htm cambridgeform10qmarch2012.htm - Generated by SEC Publisher for SEC Filing

FORM 10-Q

U.S. SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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

For the quarterly period ended March 31, 2012

o 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 000-54485

Cambridge Projects Inc.

(Exact name of registrant as specified in its charter)

Nevada		45-0713638
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification Number)

10300 West Charleston 10-56

Las Vegas, Nevada 89135

(Address of principal executive offices)

(702)-666-4298

(Registrant’s telephone number, including area code)

No change

(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 website, 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 definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer o Accelerated filer o

Non-accelerated filer o 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 o No x.

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING

THE PRECEDING FIVE YEARS:

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes o No o

APPLICABLE ONLY TO CORPORATE ISSUERS

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: 33,001,000 shares of common stock, par value $.0001 per share, outstanding as of May 16, 2012.

CAMBRIDGE PROJECTS, INC.

- INDEX -

PART I – FINANCIAL INFORMATION:			Page

Item 1.	Financial Statements:

	Balance Sheets as of March 31, 2012 (unaudited) and June 30, 2011 (audited)		5

	Statements of Operations (unaudited) for the Three and Nine Month Periods Ended March 31, 2012 and for the Period from March 11, 2011 (Inception) to March 31, 2011		6

	Statements of Cash Flows (unaudited) for the Nine Month Period Ended March 31, 2012 and for the Period from March 11, 2011 (Inception) to March 31, 2011		7

	Notes to Financial Statements (unaudited)		8

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations		9

Item 3.	Quantitative and Qualitative Disclosures About Market Risk		12

Item 4.	Controls and Procedures		12

PART II – OTHER INFORMATION:

Item 1.		Legal Proceedings	12

Item 1A.		Risk Factors	12

Item 2.		Unregistered Sales of Equity Securities and Use of Proceeds	12

Item 3.		Defaults Upon Senior Securities	12

Item 4.		Removed and Reserved	12

Item 5.		Other Information	13

Item 6.		Exhibits	13

Signatures			14

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements.

CAMBRIDGE PROJECTS INC.

FINANCIAL STATEMENTS

MARCH 31, 2012

CAMBRIDGE PROJECTS INC.

BALANCE SHEETS

	March 31, 2012	June 30, 2011
	(Unaudited)	(Audited)
ASSETS

CURRENT ASSETS	$ -	$ -
Cash	11,610	-
License fee receivable	5,000	-
Total current assets	16,610	-

OTHER ASSET
Intangible asset – License	40,000	-
Accumulated amortization	(333)	-
Total other assets	39,667	-

TOTAL ASSETS	$ 56,277	$ -

LIABILITIES AND STOCKHOLDER'S EQUITY

CURRENT LIABILITIES
Accounts payable – license	$ 40,000	$ -
Accrued liabilities	4,000	-
Royalty fees payable	150	-
Total current liabilities	44,150	-

NON CURRENT LIABILITIES
Due to stockholder	300	-

Total Liabilities	44,450	-

STOCKHOLDER’S EQUITY

Common stock, $0.0001 par value, 200,000,000 shares authorized, 33,001,000 shares issued, 21,001,000 shares outstanding	3,300	2,160
Capital in excess of par value	10,261	-
Accumulated deficit	(1,734)	(2,160)
Total stockholder’s equity	11,827	-

TOTAL LIABILITIES AND STOCKHOLDER’S EQUITY	$ 56,277	$ -

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

-F1-

CAMBRIDGE PROJECTS INC.

STATEMENTS OF OPERATIONS

(Unaudited)

	Three Month Period Ended March 31, 2012	Nine Month Period Ended, March 31, 2012	For the Period From March 11, 2011 (inception) toMarch 31, 2011


Revenues	$ 5,000	$ 5,000	$ -

General and Administrative Expenses:

Professional fees	-	4,000
Organization expense	-	-	2,160
Royalties	150	150	-
Bank service charges	-	91	-
Amortization	333	333

Total expenses	483	4,574	2,160

Net income (loss)	$ 4,517	$ 426	$ ( 2,160)

Net income (loss) per common share -
basic and diluted	$ -	$ -	$ -

Weighted average number of common shares outstanding	33,001,000	26,450,607	8,640,000

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

-F2-

CAMBRIDGE PROJECTS INC.

STATEMENTS OF CASH FLOWS

(Unaudited)

	Nine Month Period Ended March 31, 2012	For the Period From March 11, 2011 (inception) to March 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES

Net income(loss)	$ 426	$ (2,160)
Adjustments to reconcile net loss to net cash consumed by operating activities:

Charges not requiring outlay of cash:
Shares issued for organization expenses	-	2,160
Amortization	333	-

Changes in assets and liabilities:
Increase in license fee receivable	(5,000)
Increase in accrued expenses	4,000	-
Increase in royalty fee payable	150	-

Net cash consumed by operating activities	(91)	-

INVESTING ACTIVITIES	-	-

FINANCING ACTIVITIES

Proceeds from stockholder loan	300	-
Proceeds from sales of common stock	11,401	-

Net cash provided by financing activities	11,701	-

Net increase in cash	11,610	-

Cash, at beginning of period	-	-

Cash, at end of period	$ 11,610	$ -

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

-F3-

CAMBRIDGE PROJECTS INC.

NOTES TO FINANCIAL STATEMENTS

MARCH 31, 2012

(Unaudited)

NOTE 1- BASIS OF PRESENTATION

The unaudited interim financial statements of Cambridge Projects, Inc.as of March 31, 2012 and for the three and nine month periods ended March 31, 2012 and for the period from March 22, 2011 (inception) to March 31, 2011 have been prepared in accordance with United States generally accepted accounting principles (“GAAP”). In the opinion of management, such information contains all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the results of such comparable periods. The results of operations for the three and nine month periods ended March 31, 2012 are not necessarily indicative of the results to be expected for the full fiscal year ending June 30, 2012.

Certain information and disclosures normally included in the notes to financial statements have been condensed or omitted as permitted by the rules and regulations of the Securities and Exchange Commission, although the Company believes the disclosure is adequate to make the information presented not misleading. The accompanying unaudited financial statements should be read in conjunction with the financial statements for the period from March 11, 2011(date of inception) to June 30, 2011.

NOTE 2 - RELATED PARTY TRANSACTIONS

During the nine month period ended March 31, 2012, the Company President advanced $ 300 to fund working capital needs.

NOTE 3 - LICENSE AGREEMENTS

The Company entered into a license agreement on February 12, 2012 to license, market and operate a waste disposal system in a territory of Johore, Malaysia. This license is for a period of twenty-five years and at a cost of $40,000. This was capitalized as an intangible asset and will be amortized over a ten year period. The $40,000 cost of the intangible right was paid subsequent to the balance sheet date. Under the terms of the licensing agreement the Company is committed to purchase and install a QI pyrolic disposal system at a cost of $400,000 by April 30, 2013 or the agreement will terminate. The license agreement calls for royalty fees of 3% of the fees received from sub licensors and 3% of sales of by products generated from use of the system.

The Company has entered into a sub-license agreement with a licensee domiciled in Taiwan to operate the recycling system in the designated territory.

NOTE 4 - BUSINESS CONCENTRATIONS

The Company currently has concentrations in supplier, customer, product and geographic area. As noted above the company has an agreement allowing it to license the disposal technology. It has entered into a sub-license agreement granting those rights to a single licensee. The Company is not, however, limited to this activity.

-F4-

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Forward Looking Statement Notice

Certain statements made in this Quarterly Report on Form 10-Q are “forward-looking statements” (within the meaning of the Private Securities Litigation Reform Act of 1995) regarding the plans and objectives of management for future operations. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of Cambridge Projects, Inc. (“we”, “us”, “our” or the “Company”) to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements included herein are based on current expectations that involve numerous risks and uncertainties. The Company's plans and objectives are based, in part, on assumptions involving the continued expansion of business. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of the Company. Although the Company believes its assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance the forward-looking statements included in this Quarterly Report will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved.

Description of Business

The Company was incorporated in the State of Nevada on March 11, 2011 (Inception) and maintains its principal executive office at 10300 West Charleston 10-56, Las Vegas Nevada. Since inception, the Company has been engaged in organizational efforts and obtaining initial financing. The Company was formed as a vehicle to pursue a business combination through the acquisition of, or merger with, an operating business. The Company filed a registration statement on Form 10 with the U.S. Securities and Exchange Commission (the “SEC”) on August 23, 2011, and since its effectiveness the Company has focused its efforts to identify a possible business combination.

On February 8, 2012 we entered into a Licensing Agreement (the “Agreement”) with Quadra International Inc. (“Quadra”), a manufacturer of the QI System. The QI System processes organic waste to marketable by-products and is proprietary technology. We obtained exclusive licensing rights in the states of Johore and Selangor, Malaysia for a period of 25 years. We will have exclusive rights to sub-license, establish joint ventures to commercialize, use and process organic waste, and sell related by-products. The license fee is $ 40,000 and was guaranteed by a shareholder. The $ 40,000 was paid on May 8, 2012. We are required to purchase the QI System at a fixed price of $ 400,000 for the term of our license. We are subject to a royalty of 3% on licensee fees received from appointed sub-licensees as well as 3% on gross sales from by-product generated from any operated QI System in Johore. We also have been assured that an option will be available to us to obtain exclusive license rights in other states and federal territories in Malaysia with license fees varying with each state and territory.

The QI System is designed to handle commonly generated waste streams, whether liquid, solid, mixed or unmixed (including whole tires, all types of plastics, e-waste, shredder residues, sewage sludge, animal wastes, biomass, ligneous and infectious biohazard medical waste) and represents an environmentally friendly and commercially viable alternative to traditional methods of processing waste. The solutions are commercially viable ecological recycling models based on zero-waste philosophy. We will initially be focused on using the application for processing waste tires for conversion to biochar and fuel oil.

On February 15, 2012, we entered into a Sub-License Agreement with Zhunger Capital Partners Inc. (“Zhunger”), to grant exclusive rights to sub-license, establish joint ventures to commercialize, use and process organic waste, and sell related by-products for a period of 25 years in the state of Johore, Malaysia. Zhunger will be subject to a sub-license fee of $ 70,000 payable in monthly installments of $ 5,000 per month commencing March 1, 2012 ending, April 1, 2013. As per our Agreement with Quadra, 3% of any sub license fees received are payable to Quadra on a quarterly basis. As additional consideration under the agreement with Quadra or the agreement with Zhunger, gross sales on by-products generated from the QI System will be subject to a 3% royalty fee. Zhunger is entitled to

purchase the QI System (one treatment application – used tires) for a fixed price of $ 400,000 for a period of 25 years. We have entered into discussions to establish waste conversion operations with Zhunger through a joint venture however an agreement has not materialized. There can be no assurance that any agreements will materialize.

It is our intention to establish joint venture operations in Johore for the operation of a QI System for waste tire treatment. Establishing such operations will largely be dependent on our and Zhunger’s ability to raise sufficient working capital. We are currently negotiating the terms of the joint venture with Zhunger. There can be no assurance that such operations will materialize.

During the next twelve months we anticipate that a significant portion of our costs will relate to filing Exchange Act reports and professional fees for audit and legal costs.

We believe we will be able to meet these costs with funds to be loaned to or invested in us by our stockholders, management or other investors. As of the date of the period covered by this report, we have $11,610 in cash. There are no assurances that we will be able to secure any additional funding as needed. Currently, however our ability to continue as a going concern is dependent upon our ability to generate future profitable operations and/or to obtain the necessary financing to meet our obligations and repay our liabilities arising from normal business operations when they come due.

Liquidity and Capital Resources

As of March 31, 2012, we had assets comprised of cash in the amount of $ 11,610, accounts receivable of $ 5,000 and our investment in the license in the amount of $ 39,667. Our current liabilities as of March 31, 2012 totalled $44,250, comprised of $ 4,000 accounts payable for audit fees, $ 150 royalty payable to Quadra and an additional $ 40,000 due to Quadra for the license fee. The $ 40,000 was guaranteed by a stockholder and was subsequently paid in cash on May 8, 2012.

Effective December 5, 2011, the Company entered into share subscription agreements with 32 shareholders for the sale of 11,401,000 common shares at $ 0.001 per share for total proceeds of $ 11,401. The Company received proceeds of $ 11,401 on December 28, 2011. Each of the 32 shareholders holds less than 5% of the outstanding shares.

We anticipate $60,000 in license fees over the next year.

The Company will require approximately $ 22,800 to fund its working capital needs as follows:

Filing fees	10,000
Audit and accounting	10,000
Miscellaneous	1,000
License payments	1,800

Total	$ 22,800

We expect to obtain financing through stockholder loans and private placements. Stockholder loans will be without stated terms of repayment or interest. We will not consider taking on any long-term or short-term debt from financial institutions in the immediate future. Stockholders loans may be granted from time to time as required to meet current working capital needs. We have no formal agreement that ensures that we will receive such loans. We may exhaust this source of funding at any time.

We are dependent upon certain related parties to provide continued funding and capital resources. If continued funding and capital resources are unavailable at reasonable terms, we may not be able to implement our plan of operations.

Results of Operations

For the nine month period ended March 31, 2012, our revenues were $ 5,000 relating to license fee income from Zhunger for the March 2012 sub license fee. The license fee is due the 1^st of each month commencing March 1, 2012.

For the nine month period endedMarch 31, 2012, our expenses totalled $4,574, comprised primarily of audit and other professional service fees incurred in relation to the preparation and filing of our periodic reports.

For the period from March 11, 2011 (Inception) to March 31, 2011, we had a net loss of $2,160, comprised exclusively of service fees incurred in relation to the formation of our company.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on the Company’s financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.

Contractual Obligations

As a “smaller reporting company” as defined by Item 10 of Regulation S-K, we are not required to provide this information.

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

As a “smaller reporting company” as defined by Item 10 of Regulation S-K, we are not required to provide information required by this Item.

Item 4. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our reports filed pursuant to the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules, regulations and related forms, and that such information is accumulated and communicated to our principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure.

As of March 31, 2012, we carried out an evaluation, under the supervision and with the participation of our principal executive officer and our principal financial officer of the effectiveness of the design and operation of our disclosure controls and procedures. Based on this evaluation, our principal executive officer and our principal financial officer concluded that our disclosure controls and procedures were effective as of the end of the period covered by this report.

Changes in Internal Controls

There have been no changes in our internal controls over financial reporting during the quarter ended March 31, 2012 that have materially affected or are reasonably likely to materially affect our internal controls.

PART II — OTHER INFORMATION

Item 1. Legal Proceedings.

There are presently no material pending legal proceedings to which the Company, any executive officer, any owner of record or beneficially of more than five percent of any class of voting securities is a party or as to which any of its property is subject, and no such proceedings are known to the Company to be threatened or contemplated against it.

Item 1A. Risk Factors.

As a “smaller reporting company” as defined by Item 10 of Regulation S-K, the Company is not required to provide information required by this Item.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

Effective December 5, 2011, the Company entered into share subscription agreements with 32 shareholders for the sale of 11,401,000 common shares at $ 0.001 per share for total proceeds of $ 11,401. The proceeds were received December 28, 2011. Each of the 32 shareholders holds less than 5% of the outstanding shares.

The offer and sale of the shares were exempt from registration pursuant to Regulation S under the Securities Act as such sales were made in offshore transactions to non-U.S. persons.

Item 3. Defaults Upon Senior Securities.

None.

Item 4. Removed and Reserved.

Item 5. Other Information.

None.

Item 6. Exhibits.

(a) Exhibits required by Item 601 of Regulation S-K.

Exhibit No.

Description

*3.1

Certificate of Incorporation, as filed with the Nevada Secretary of State on March 11, 2011.

*3.2

By-laws.

31.1

Certification of the Company’s Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, with respect to the registrant’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2012.

32.1

Certification of the Company’s Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

*	Filed as an exhibit to the Company's Registration Statement on Form 10, as filed with the SEC on August 23, 2011, and incorporated herein by this reference.

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.

	CAMBRIDGE PROJECTS INC.

Dated: May 16, 2012	By:	/s/ Locksley Samuels
		Locksley Samuels
		President and Director Principal Executive Officer Principal Financial Officer

EX-31 2 ex311.htm ex311.htm - Generated by SEC Publisher for SEC Filing

EXHIBIT 31.1

CERTIFICATION PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Locksley Samuels, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Cambridge Projects Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

	a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which this report is being prepared;

	b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

Disclosed in this report any change in the Registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions);

	a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

	b)	any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Dated: May 16, 2012	By: /s/ Locksley Samuels
	Locksley Samuels, President, CEO, CFO,Treasurer and Director

EX-32 3 ex321.htm ex321.htm - Generated by SEC Publisher for SEC Filing

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Cambridge Projects Inc. a Nevada corporation (the "Company") on Form 10-Q for the quarter ended March 31, 2012, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), Locksley Samuels, President, Chief Executive Officer, Chief Financial Officer, Treasurer and Director of the Company, certifies to the best of his knowledge, pursuant to 18 U.S.C. ss. 1350, as adopted pursuant to ss. 906 of the Sarbanes-Oxley Act of 2002, that:

	(1)	The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
	(2)	The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

/s/ Locksley Samuels
Locksley Samuels
President, Chief Executive Officer, Chief Financial Officer, Treasurer and Director
Date: May 16, 2012

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NOTE 1- BASIS OF PRESENTATION The unaudited interim financial statements of Cambridge Projects, Inc.as of March 31, 2012 and for the three and nine month periods ended March 31, 2012 and for the period from March 22, 2011 (inception) to March 31, 2011 have been prepared in accordance with United States generally accepted accounting principles (“GAAP”). In the opinion of management, such information contains all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the results of such comparable periods. The results of operations for the three and nine month periods ended March 31, 2012 are not necessarily indicative of the results to be expected for the full fiscal year ending June 30, 2012. Certain information and disclosures normally included in the notes to financial statements have been condensed or omitted as permitted by the rules and regulations of the Securities and Exchange Commission, although the Company believes the disclosure is adequate to make the information presented not misleading. The accompanying unaudited financial statements should be read in conjunction with the financial statements for the period from March 11, 2011(date of inception) to June 30, 2011.

NOTE 3 - LICENSE AGREEMENTS   The Company entered into a license agreement on February 12, 2012 to license, market and operate a waste disposal system in a territory of Johore, Malaysia.  This license is for a period of twenty-five years and at a cost of $40,000.  This was capitalized as an intangible asset and will be amortized over a ten year period.  The $40,000 cost of the intangible right was paid subsequent to the balance sheet date.  Under the terms of the licensing agreement the Company is committed to purchase and install a QI pyrolic disposal system at a cost of $400,000 by April 30, 2013 or the agreement will terminate.  The license agreement calls for royalty fees of 3% of the fees received from sub licensors and 3% of sales of by products generated from use of the system.   The Company has entered into a sub-license agreement with a licensee domiciled in Taiwan to operate the recycling system in the designated territory.

NOTE 4 - BUSINESS CONCENTRATIONS   The Company currently has concentrations in supplier, customer, product and geographic area.  As noted above the company has an agreement allowing it to license the disposal technology.  It has entered into a sub-license agreement granting those rights to a single licensee.  The Company is not, however, limited to this activity.     -F4-

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- BUSINESS CONCENTRATIONS	9 Months Ended
Mar. 31, 2012
- BUSINESS CONCENTRATIONS	NOTE 4 - BUSINESS CONCENTRATIONS The Company currently has concentrations in supplier, customer, product and geographic area. As noted above the company has an agreement allowing it to license the disposal technology. It has entered into a sub-license agreement granting those rights to a single licensee. The Company is not, however, limited to this activity. -F4-

- BUSINESS CONCENTRATIONS

9 Months Ended

Mar. 31, 2012

- BUSINESS CONCENTRATIONS

NOTE 4 - BUSINESS CONCENTRATIONS

-F4-

- Definition

The entire disclosure for all significant accounting policies of the reporting entity.

+ References+ Details

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- LICENSE AGREEMENTS	9 Months Ended
Mar. 31, 2012
- LICENSE AGREEMENTS	NOTE 3 - LICENSE AGREEMENTS The Company entered into a license agreement on February 12, 2012 to license, market and operate a waste disposal system in a territory of Johore, Malaysia. This license is for a period of twenty-five years and at a cost of $40,000. This was capitalized as an intangible asset and will be amortized over a ten year period. The $40,000 cost of the intangible right was paid subsequent to the balance sheet date. Under the terms of the licensing agreement the Company is committed to purchase and install a QI pyrolic disposal system at a cost of $400,000 by April 30, 2013 or the agreement will terminate. The license agreement calls for royalty fees of 3% of the fees received from sub licensors and 3% of sales of by products generated from use of the system. The Company has entered into a sub-license agreement with a licensee domiciled in Taiwan to operate the recycling system in the designated territory.

- LICENSE AGREEMENTS

9 Months Ended

Mar. 31, 2012

- LICENSE AGREEMENTS

NOTE 3 - LICENSE AGREEMENTS

The Company has entered into a sub-license agreement with a licensee domiciled in Taiwan to operate the recycling system in the designated territory.

- Definition

Tabular disclosure of significant agreements under research and development arrangements accounted for as a contract to perform research and development for others (including royalty arrangements, purchase provisions, license agreements, and commitments to provide additional funding), aggregated by similar arrangements or individually if necessary to understand the effects on the financial statements. Include also the amount of costs incurred under a research and development arrangement accounted for as a contract to perform research and development for others. Aggregation of similar arrangements by type may be appropriate. Include also the amount of compensation earned (contract income) under a research and development arrangement accounted for as a contract to perform research and development for others. Aggregation of similar arrangements by type may be appropriate.

+ References+ Details

XML 15 R2.htm IDEA: XBRL DOCUMENT

BALANCE SHEETS (Unaudited) (USD $)	Mar. 31, 2012	Jun. 30, 2011
CURRENT ASSETS
Cash	$ 11,610	$ 0
License fee receivable	5,000	0
Total current assets	16,610	0
OTHER ASSET
Intangible asset - License	40,000	0
Accumulated amortization	(333)	0
Total other assets	39,667	0
TOTAL ASSETS	56,277	0
CURRENT LIABILITIES
Accounts payable - license	40,000	0
Accrued liabilities	4,000	0
Royalty fees payable	150	0
Total current liabilities	44,150	0
NON CURRENT LIABILITIES
Due to stockholder	300	0
Total Liabilities	44,450	0
STOCKHOLDER’S EQUITY
Common stock, $0.0001 par value, 200,000,000 shares authorized, 33,001,000 shares issued, 21,001,000 shares outstanding	3,300	2,160
Capital in excess of par value	10,261	0
Accumulated deficit	(1,734)	(2,160)
Total stockholder’s equity	11,827	0
TOTAL LIABILITIES AND STOCKHOLDER’S EQUITY	$ 56,277	$ 0

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- BASIS OF PRESENTATION

9 Months Ended

Mar. 31, 2012

- BASIS OF PRESENTATION

NOTE 1- BASIS OF PRESENTATION

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

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- RELATED PARTY TRANSACTIONS

9 Months Ended

Mar. 31, 2012

- RELATED PARTY TRANSACTIONS

NOTE 2 - RELATED PARTY TRANSACTIONS

During the nine month period ended March 31, 2012, the Company President advanced $ 300 to fund working capital needs.

- Definition

The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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BALANCE SHEETS (Unaudited) (Parenthetical) (USD $)	Mar. 31, 2012	Jun. 30, 2011
STOCKHOLDER’S EQUITY
Common stock, par value	$ 0.0001	$ 0.0001
Common stock authorized shares	200,000,000	200,000,000
Common stock shares issued	33,001,000	21,001,000
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Document and Entity Information	Mar. 31, 2012	May 16, 2012
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q3
Entity Registrant Name	Cambridge Projects Inc.
Entity Central Index Key	0001528308
Current Fiscal Year End Date	--06-30
Entity Filer Category	Smaller Reporting Company
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STATEMENTS OF OPERATIONS (USD $)	Mar. 31, 2011	Mar. 31, 2012	Mar. 31, 2012
Revenues	$ 0	$ 5,000	$ 5,000
General and Administrative Expenses:
Professional fees		0	4,000
Organization expense	2,160	0	0
Royalties	0	150	150
Bank service charges	0	0	91
Amortization		333	333
Total expenses	2,160	483	4,574
Net income (loss)	$ (2,160)	$ 4,517	$ 426
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STATEMENTS OF CASH FLOWS (USD $)	1 Months Ended	9 Months Ended
STATEMENTS OF CASH FLOWS (USD $)	Mar. 31, 2011	Mar. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES
Net income(loss)	$ (2,160)	$ 426
Charges not requiring outlay of cash:
Shares issued for organization expenses	2,160	0
Amortization	0	333
Changes in assets and liabilities:
Increase in license fee receivable		(5,000)
Increase in accrued expenses	0	4,000
Increase in royalty fee payable	0	150
Net cash consumed by operating activities	0	(91)
INVESTING ACTIVITIES	0	0
FINANCING ACTIVITIES
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Proceeds from sales of common stock	0	11,401
Net cash provided by financing activities	0	11,701
Net increase in cash	0	11,610
Cash, at beginning of period	0	0
Cash, at end of period	$ 0	$ 11,610

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