0001096906-12-001412.txt : 20120515 0001096906-12-001412.hdr.sgml : 20120515 20120515140929 ACCESSION NUMBER: 0001096906-12-001412 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 9 CONFORMED PERIOD OF REPORT: 20120515 FILED AS OF DATE: 20120515 DATE AS OF CHANGE: 20120515 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LD HOLDINGS, INC. CENTRAL INDEX KEY: 0001131089 STANDARD INDUSTRIAL CLASSIFICATION: [3949] IRS NUMBER: 980335555 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-50584 FILM NUMBER: 12843275 BUSINESS ADDRESS: STREET 1: 1070 COMMERCE DRIVE STREET 2: BLDG. II, STE. 303 CITY: PERRYSBURG STATE: OH ZIP: 43551 BUSINESS PHONE: 419-873-1111 MAIL ADDRESS: STREET 1: 1070 COMMERCE DRIVE STREET 2: BLDG. II, STE. 303 CITY: PERRYSBURG STATE: OH ZIP: 43551 FORMER COMPANY: FORMER CONFORMED NAME: LEISURE DIRECT INC DATE OF NAME CHANGE: 20010103 10-Q 1 ldholdings10q.htm LD HOLDINGS, INC. 10Q 2012-03-31 ldholdings10q.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 10-Q


[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

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

Commission File Number 0-50584

LD Holdings, Inc.
(Exact name of registrant as specified in its charter)

 Nevada
 98-0335555
(State of Incorporation)
(IRS Employer Identification No.)
   
   
1070 Commerce Drive
  
Building II, Suite 303
  
Perrysburg, OH
43551
(Address of principal executive office)
(Zip Code)
   
Registrant's telephone number, including area code:
 (419) 873-1111

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

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 duringthe preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filingrequirements for the past 90 days. Yes [X]   No [   ]

As of May 15, 2012 24,495,351shares of Common Stock were issued and outstanding and 974,156 preferred shares outstanding.

Transitional Small Business Disclosure Format (check one):   Yes [    ]   No   [X]



 
 
 
 
Part 1. Financial Information

LD Holdings, Inc.
Consolidated Balance Sheets

   
March 31,
    
December 31,
  
   
2012
    
2011
  
Assets
            
             
Current Assets
            
Cash
   $ 222     $ 1,765  
Inventory
     5,600       5,091  
Total Current Assets
     5,822       6,856  
Equipment, net of accumulated depreciation
     35,209       37,244  
Total Assets
   $ 41,031     $ 44,100  
                 
  Liabilities and Stockholder's Impairment
                
                 
Current Liabilities
                
Accounts payable and accrued expenses
   $ 1,625,437     $ 1,601,195  
Accrued interest payable
     184,242       182,295  
Accrued interest payable - related parties
     435,271       419,622  
Promissory notes payable
     178,940       178,940  
Promissory notes payable - related parties
     1,535,611       1,504,457  
                 
Total Current Liabilities
     3,959,501       3,886,509  
                 
Stockholders' Impairment
                
Common stock, par value $0.001; 900,000,000 shares authorized 21,825,061 (2012) and 21,025,061 (2011) shares issued and outstanding, respectively
     21,825       21,025  
Preferred stock, par value $0.001; 10,000,000 shares authorized 974,156shares issued and outstanding
     9,742       9,742  
Additional paid in capital
     4,122,635       4,099,435  
Accumulated deficit
     (8,072,672 )     (7,972,611 )
                 
Total Stockholders' Impairment
     (3,918,470 )     (3,842,409 )
                 
Total Liabilities and Stockholders' Impairment
   $ 41,031     $ 44,100  
 
 
The attached notes are an integral part of these consolidated financial statements.



 
1
 


LD Holdings, Inc.
Consolidated Statements of Operations
(Unaudited)
 
 
   
Three Months Ended
  
   
March 31,
  
   
2012
    
2011
  
             
  Net Sales
     43,458       107,572  
                 
 Total Net Sales     43,458       107,572  
                 
Cost of Sales
     17,039       51,336  
                 
Gross Profit
     26,419       56,236  
                 
Selling, General & Administrative Expenses
     107,963       181,056  
                 
Operating Loss
     (81,544 )     (124,820 )
                 
Other Income (Expense)
                
  Interest expense
     (18,517 )     (18,617 )
  Gain from Settlement
     -       -  
                 
Total Other Income (Expense)
     (18,517 )     (18,617 )
                 
Net Loss
   $ (100,061 )   $ (143,437 )
                 
Loss per share, basic and diluted
     0.00     $ (0.01 )
                 
Weighted Average Common Shares Outstanding
     21,075,335       19,497,283  
 
 
The attached notes are an integral part of these consolidated financial statements.


 
2
 

LD Holdings, Inc.
Consolidated Statements of Cash Flows

   
Three Months Ended
  
   
March 31,
  
   
2012
    
2011
  
             
Cash Flows From Operating Activities:
            
Net Loss
   $ (100,061 )   $ (143,437 )
Adjustments to Reconcile Net Loss to Net Cash Used by Operating Activities:
                
  Depreciation
     2,572       361  
  Shares issued for services
     -       18,750  
                 
Changes in Operating Assets and Liabilities
                
  Inventory
     (509 )     (148 )
  Accounts payable and accrued expenses
     24,242       40,567  
  Accrued interest payable
     1,947       1,954  
  Accrued interest payable - related parties
     15,649       16,663  
                 
Net Cash (Used) in Operating Activities
     (56,160 )     (65,290 )
                 
Cash Flows From Investing Activities
                
  Purchase of equipment
     (537 )     -  
                 
Net Cash (Used) in Investing Activities
     (537 )     -  
                 
Cash Flows From Financing Activities
                
  Proceeds from related party notes payable
     31,154       66,171  
  Proceeds from common stock issuance
     24,000       -  
                 
Net Cash Provided by Financing Activities
     55,154       66,171  
                 
Net Increase/ (Decrease) in Cash and Equivalents
     (1,543 )     881  
                 
Cash and Equivalents at Beginning of Year
     1,765       22,820  
Cash and Equivalents at End of Year
   $ 222     $ 23,701  
                 
Supplemental Disclosure of Cash Flow Information:                
    Cash Paid for Income Taxes
   $ -     $ -  
    Cash Paid for Interest
   $ -     $ -  

The attached notes are an integral part of these consolidated financial statements.


 
3
 

Nature of Organization

LD Holdings, Inc. (the Company), formerly Leisure Direct, Inc., was formed on January 1, 2000. The Company’s corporate offices are located in Perrysburg, Ohio.  In October 2010 the Company opened the first of a series of diners it plans to open in the Midwest.  It closed its diner in Monroe, Michigan at the end of August, 2011 and opened a new diner in Toledo, Ohio in October, 2011.  The diners cater to the baby boomer generation with a family orientation.

1. Basis of Presentation

The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. For further information, refer to the financial statements and footnotes thereto included in the Company's annual report for Form 10-K for the year ended December 31, 2011. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three month period ended March 31, 2012 are not necessarily indicative of the results that may be expected for the year ended December 31, 2012.

2. Going Concern

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company incurred a loss of $100,061 during the three months ended March 31, 2012. Also, as of March 31,2012, the Company had $222 in cash, and current liabilities exceeded its current assets by $3,953,679.

Management's plans include raising additional funding from debt and equity transactions that will be used for acquisitions that should in turn increase sales. Also, the implementation of strong cost management practices and an increased focus on business development should result in the elimination of the operating losses suffered and improvement of cash flows; however, any results of the Company's plans cannot be assumed. These financial statements do not include any adjustments that might result from the outcome of this uncertainty.

3. Stockholders' Equity

On February 28, 2012, LD Holdings, Inc. (LDHL), sold 800,000 restricted shares of the Company’s common stock in a private transaction for $24,000 ($0 .03 a share).  The stock was sold to two individual long-term investors.

4. Commitments and contingencies

The Company leases its office space from a related party, Capital First Management, Inc., through common management and ownership, on a month-to-month basis. Rent expense for the quarter ended March 31, 2012 and 2011 was $7,500 each quarter.

The Company entered into a lease agreement with an unrelated Limited Liability Company effective February 1, 2011.  The agreement was for a term of three years with rent commencement date of April 1, 2011 thru March 31, 2012 at a rate of $2,000 per month, April 1, 2012 thru March 31, 2013 at a rate of $2,350 per month and April 1, 2013 through January 31, 2014 at a rate of $2,700 per month.  Rent expense was $6,000 and $15,000 for the quarter ended March 31, 2012 and 2011, respectively.

 
 
4
 
 
5.  Litigation

In 2006, a note holder commenced action against the Company for outstanding obligations owed by the Company.  In 2009, a consent judgment was awarded to lender against the Company for the sum of $200,000.  This amount is included in accrued interest and notes payable as of March 31, 2012 and December 31, 2011, with no additional interest to be charged.  
 
6.  Subsequent Events

On April 18, 2012, LD Holdings, Inc. converted $73,433 of debt and accrued interest from a former officer of LD Holdings into 2,670,290 shares of common stock of LD Holdings, Inc.
 
On April 17, 2012, LD Holdings signed a Management and Business Development Consulting Agreement with Financial Wellness LLC.  Financial Wellness will assist the company in the development and implementation of its business plan.  Per agreement, consultant will be compensated through the issuance of 16 million stock options with exercise prices ranging from $0.10 to $2.00 with a possible 2.4 million additional options with an exercise price of $0.05 per share of common stock.
 
Management's Discussion and Analysis

When used in this Form 10-Q and in future filings by LD Holdings, Inc. (hereinafter "LD Holdings") with the Securities and Exchange Commission, the words or phrases "will likely result," "management expects," "LD Holdings expects," "will continue," "is anticipated" or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on any such forward-looking statements, each of which speaks only as of the date made. These statements are subject to risks and uncertainties, some of which are described below. Actual results may differ materially from historical earnings and those presently anticipated or projected. LD Holdings has no obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect anticipated events or circumstances occurring after the date of such statements.

Introduction

This document contains forward-looking statements, including statements regarding the Company's strategy, plans for growth and anticipated sources of capital and revenue. The Company's actual results may differ dramatically from those anticipated in these forward-looking statements. The differences may be result from one or more of the risk factors described below or from events that we have not foreseen.

Risk Factors

LD Holdings has very limited financial resources. In order to implement its business plan, we will have to raise capital. If we are unsuccessful in raising capital, our business will not grow.

Because of its limited operating history, LD Holdings has little historical financial data on which to base its plans for future operations. Management will have to budget capital investment and expenses based, in large part, on its expectation of future revenues. If those expectations are not met, LD Holdings Inc. may exhaust its capital resources before it achieves operational stability.

Corporate Strategy

LD Holdings, Inc., (OTCBB: Symbol LDHL), has adopted a business model that seeks to capitalize on the massive transfer of generational assets as the "Baby-Boomer" generation transitions from the ownership of small businesses into retirement. The Baby-Boomer generation is represented by almost 78 million individuals born between 1946 and 1964. Over the next 20 years, as these Baby-Boomers are retiring, there are going to be businesses worth trillions of dollars that need to be sold by this Boomer generation.

Historically, the sellers typically wanted to provide minimal or no financing to the buyer. These types of transactions were too large for most individuals to finance, too risky for banks based upon the company's individual merits (as opposed to the buyer's personal balance sheet) and too small to interest most institutional investors (hedge funds and private equity groups) to consider. The lack of liquidity made it difficult to raise funds privately from anyone but relatives.

The company seeks to take a seemingly negative funding situation and turn it into a positive one. Many of these Baby Boomer businesses being sold, whether the sellers want to or not, will be forced to provide a major portion, or all, of the financing in order to sell their businesses or will be forced to sell them below their true market value in order to get the business sold.

The company plans to focus its efforts on becoming a "known buyer" of small companies that meet its acquisition criteria, which it intends to widely distribute to business sellers directly and to others on its websites. The 5-Year Plan is to accumulate at least 45 of these small companies and to slowly meld them into cohesive business units. Using $8.33 million of revenues as an average in years 1 through 3 and $10 million of revenues as an average in years 4 and 5, would result in consolidated total revenues of $420 Million by the end of year 5.

The company's objective, through aggressive use of the Internet, is to put an outside investor base in place that shares the company's vision and objectives while the search for acquisitions is being conducted. The company will stress on its affiliated websites and in its investor information that it is looking for long-term investors who are willing to hold their positions for a year or more.

In its first full year of operations, the company plans to acquire at least 3 companies with $25 million sales and EBIT of $2.5 million. At 15 X EBIT this would place a market capitalization of $37 million on the company. In order to accomplish its objectives, and as explained in this Business Plan, the company has developed a 4-Step Process.

 
 
5
 

Current Business Operations

LD Holdings, Inc., (Symbol LDHL), is a Financial and Management Holding Company that has identified a significant business opportunity that will fill a void in the small business world. That void is the sale and transfer of businesses from one generation (the Baby Boomer) to the next.

With over 25 million small businesses in the USA and 15 trillion dollars of businesses to be sold over the next 15-20 years, there will be many opportunities for wealth generation. The following services will be needed:

1*
  There will be a need for Marketing, Sales and other Business Services to prepare the businesses for sale.
 
  
2*
  There will be a need for buyers for these businesses.
   
3*
  There will be a need for young entrepreneur managers to manage these businesses.
   
4*
  There will be a need for the financing of these businesses.

*LD Holdings, Inc., as a Financial and Management Holding Company, will take advantage of this opportunity with its two operating divisions under the parent holding company. These divisions are the Financial Services Division and the Operating Division that will manage the portfolio companies in which LD Holdings, Inc. will have varying percentages of ownership.

The Financial Services Division (LD Financial, Inc.) will concentrate on businesses with sales between $2 million and $20 million and EBIT between $500,000 and $3 million. This is where the real void exists. Owners of these businesses have a difficult time getting full value because the financing of these companies is too large for most individuals to finance, too risky for banks based upon the company's individual merits (as opposed to the buyer's personal balance sheet) and too small to interest most institutional investors (hedge funds and private equity groups) to consider. The lack of liquidity makes it difficult to raise funds privately from anyone but relatives.

The Financial Services Division provides the following services:

1* The Marketing, Sales and Other Business Services represent specifically target services to position client companies for both sales and profit growth in preparation for their eventual sale. The lead service involves the client company outsourcing some portion of the sales function to us as an Independent Sales Organization (ISO). This enhances the value of the company because it is no longer dependent upon the selling management's relationship with the company's customers. We provide this service under a variety of formats and compensation arrangements. Typically, these are long-term joint-venture marketing efforts that result in recurring revenue streams to the company. The Auxiliary consulting services provided include helping the client company to finance its growth and to prepare it for sale under the most advantageous terms possible to the client. In many cases, we will participate in the incremental value created.

2* Financial Services will maintain an ongoing data base of businesses for sale. This allows the company to look for synergistic opportunities to combine one or more acquisition candidates at some future date. This database also provides the company with a historical perspective of different industries and distribution channels along with any type of geographical variation in the valuation of businesses.

3* Financial Services maintains a database of individuals with specific backgrounds and expertise that will be available for both acquisition evaluation, and strategizing the post-acquisition business model for each potential acquisition candidate, once the financial aspects of the transaction are determined. Particular attention will be given to developing relationships with those entrepreneurs and managers that want to perform in a results-driven environment, which has the associated incentives in place to create personal wealth for them and an above average return for the company's stockholders. What distinguishes these individuals is that they are self-motivated, looking for a rewarding opportunity and are willing to put in whatever time is needed.

4* Financial Services maintains an ongoing data base of investors that share the company's vision and objectives. The company is looking for long-term investors who are willing to hold their positions for a year or more for superior rates of return. Investors that want to participate in ground floor investment opportunities that the company's Business Model represents have a special wealth building vehicle available to them. The company's stock is thinly traded with a relatively small float. This will allow the company to look for synergistic opportunities to combine one or more acquisition candidates.
 
                                       
 
6
 

Boomer's Diner, Inc., a Michigan corporation and wholly owned subsidiary of  LD Holdings, Inc. (LDHL), opened for business in Monroe, Michigan in October, 2010.   On August 28, 2011, the company closed its Monroe, Michigan diner, and on  October 17, 2011, the company opened a Boomers Diner in Toledo, Ohio.  The location is ideally suited for our Diner Model as an end cap of a commercial shopping center, with plenty of parking and on a main thorough fare.  As part of the Boomer's Diner Business Plan, the diner is modeled after a "local" diner which has proven successful over the last six years, located near the Company's Headquarters in Perrysburg, Ohio.

This subsidiary's business plan compliments the business plan of LDHL, which is to help facilitate the transfer of "Baby Boomer" businesses in the $2-$20 million annual sales range to younger generations.  Collaboration of business resources, lead generation and other business services will expand and leverage the footprint of LDHL.

The diners provide a stage for the company to get its tentacles into the local community and have its loyal customer base as a source for finding businesses that are for sale, entrepreneur manager candidates and investors.  It is anticipated that some of these customers will also become shareholders in the parent company.  The plan is to open or collaborate to have 10 -12 locations operating over a three state area (Ohio, Michigan, Indiana) over the next 24 - 36 months.

Three Months Ended March 31, 2012 and 2011

For the three months ended March 31, 2012 and 2011, LD Holdings had revenues of $43,458 and $107,572, respectfully. The sales decline is due to the closing of a larger restaurant in Monroe, MI during 2011 and the opening of a smaller restaurant in Toledo, OH in the last quarter of 2011.  LD Holdings had a working capital shortage and did not emphasize current operations. Management has elected to devote all of its time seeking financing partners to further implement its Business Plan.

For the three months ended March 31, 2012 and 2011, LD Holdings incurred selling, general and administrative expenses of $107,963 and $181,056, respectively, of which $30,000 and $30,000 represents the fee for the services of John R. Ayling, Chairman and CEO. The fees have been accrued until the operations of the company permit payment, or the Chairman and CEO determines to take his fee in the form of stock. Selling, general and administrative expenses decreased primarily as a result of payroll decreases and related payroll tax decreases.  The total operating expenses resulted in an operating loss for the three months ended March 31, 2012 and 2011 of $81,544 and $124,820, respectively. Funding of these expenses was from short term loans from principal shareholders and sale of stock.

For the three months ended March 31, 2012 and 2011, LD Holdings incurred interest expense of $18,517 and $18,617, respectively. Interest expense was accrued, and will be paid when the operations of the company permit payment.

Liquidity and Capital Requirements

LD Holdings had a net operating working deficit, at March 31, 2012, of $3,953,679. The working capital requirements of LD Holdings have been funded primarily with loans from shareholders.

LD Holdings is seeking additional financing to continue to develop its business plan and to begin its implementation. The Company believes this amount will be substantial.

Quantitative and Qualitative Disclosures about market risk.

Not Applicable.

Evaluation of Disclosure Controls and Procedures

An evaluation of the effectiveness of the Company's disclosure controls and procedures as of March 31, 2012 was made under the supervision of John R. Ayling, the Chief Executive Officer/Chief Accounting Officer. Based on that evaluation, Mr. Ayling concluded that the Company's disclosure controls and procedures are not effective to ensure that information required to be disclosed by the Company in reports that it files or submits under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in Securities and Exchange Commission rules and forms.


 
7
 
 
A material weakness in the Company's internal controls exists in that there is limited segregation of duties with respect to the Company's preparation and review of the Company's financial statements.  This material weakness is a result of the Company's limited number of personnel.  This material weakness may affect management's ability to effectively review and analyze elements of the financial statement closing process and prepare financial statements in accordance with U.S. GAAP.

During the most recently completed fiscal quarter, there has been no significant change in the Company's internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, the company's internal control over financial reporting.

Subsequent Events

On April 17, 2012, LD Holdings signed a Management and Business Development Consulting Agreement with Financial Wellness LLC. an Indiana LLC. Financial Wellness will assist the company in the development and implementation of its business plan as outlined in the company’s latest 10K filing with the Securities and Exchange Commission. The Company filed an 8-K on April 19, 2012, detailing the Agreement.

On April 18, 2012, LD Holdings, Inc. (LDHL), converted $73,433 of debt and accrued interest from a former officer of LD Holdings, Inc. into 2,670,290 shares of common stock of LD Holdings, Inc.

 
8
 
 
Part II - OTHER INFORMATION

Item 1. Legal Proceedings

None.

Item 2. Unregistered sales of equity securities and use of proceeds.

None.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Submission of Matters to a Vote of Security Holders

None.

Item 5. Other Information

None.

Item 6. Exhibits

31
Rule 13a-14(a) Certification
   
32
Rule 13a-14(b) Certification
   
101 INS
XBRL Instance Document*
  
     
101 SCH
XBRL Schema Document*
  
     
101 CAL
XBRL Calculation Linkbase Document*
  
     
101 DEF
XBRL Definition Linkbase Document*
  
     
101 LAB
XBRL Labels Linkbase Document*
  
     
101 PRE
XBRL Presentation Linkbase Document*
  

*           The XBRL related information in Exhibit 101 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liability of that section and shall not be incorporated by reference into any filing or other document pursuant to the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing or document.


 
9
 

                                   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.

 
LD Holdings, Inc.
   
Date:  May 15, 2012
/s/  John R. Ayling
 
John R. Ayling,
 
Chairman/Chief Executive Officer/Chief Accounting Officer

 
 
 
 
 

10
 
 EX-31 2 ldholdings10qexh31.htm RULE 13A-14(A) CERTIFICATION ldholdings10qexh31.htm
EXHIBIT 31
 
RULE 13a-14(a) CERTIFICATIONS
 
I, John R. Ayling, certify that:
 
1. I have reviewed this Quarterly Report on Form 10-Q of LD Holdings, 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(s) and I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15(d-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 under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us 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;
 
c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our 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
 
d) 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(s) 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 controls 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 small business issuer's internal controls over financial reporting.
 
 

Date:  May 15, 2012
/s/  John R. Ayling       
 
John R. Ayling
 
Chairman/Chief Executive Officer/Chief Accounting Officer

 
 
 
 
 
 
 
 EX-32 3 ldholdings10qexh32.htm RULE 13A-14(B) CERTIFICATION ldholdings10qexh32.htm
EXHIBIT 32
 
Rule 13a-14(b) CERTIFICATION
 
The undersigned officer certifies that this report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, and that the information contained in the report fairly presents, in all material respects, the financial condition and results of operations of LD Holdings, Inc.
 
A signed original of this written statement required by Section 906 has been provided to LD Holdings, Inc. and will be retained by LD Holdings, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.
 
 

May 15, 2012
/s/  John R. Ayling               
 
John R. Ayling
 
Chairman/Chief Executive Officer/Chief Accounting Officer

 
 
 
 

 
 EX-101.INS 4 ldhl-20120331.xml XBRL INSTANCE DOCUMENT 10-Q 2012-03-31 false LD HOLDINGS, INC. 0001131089 --12-31 Smaller Reporting Company Yes No No 2012 Q1 222 1765 5600 5091 5822 6856 35209 37244 41031 44100 1625437 1601195 184242 182295 435271 419622 178940 178940 1535611 1504457 3959501 3886509 21825 21025 9742 9742 4122635 4099435 -8072672 -7972611 -3918470 -3842409 41031 44100 0.001 0.001 900000000 900000000 21825061 21025061 21825061 21025061 0.001 0.001 10000000 10000000 974156 974156 974156 974156 43458 107572 17039 51336 26419 56236 107963 181056 -81544 -124820 18517 18617 -18517 -18617 -100061 -143437 0.00 -0.01 21075335 19497283 2572 361 18750 509 148 24242 40567 1947 1954 15649 16663 -56160 -65290 537 -537 31154 66171 24000 55154 66171 -1543 881 22820 23701 <!--egx--><p style="MARGIN:0in 112.5pt 0pt 0in">3. Stockholders' Equity</p> <p style="MARGIN:0in 112.5pt 0pt 0in">&nbsp;</p> <p style="MARGIN:0in 112.5pt 0pt 0in">On February 28, 2012, LD Holdings, Inc. (LDHL), sold 800,000 restricted shares of the Company&#146;s common stock in a private transaction for $24,000 ($ 0.03 a share).&nbsp; The stock was sold to two individual long-term investors.</p> <!--egx--><p style="MARGIN:0in 112.5pt 0pt 0in">6.&nbsp; Subsequent Events</p> <p style="MARGIN:0in 112.5pt 0pt 0in">&nbsp;</p> <p style="MARGIN:0in 112.5pt 0pt 0in">On April 18, 2012, LD Holdings, Inc. converted $73,433 of debt and accrued interest from a former officer of LD Holdings into 2,670,290 shares of common stock of LD Holdings, Inc.</p> <p style="MARGIN:0in 0in 0pt">&nbsp;</p> <p style="MARGIN:0in 0in 0pt">On April 17, 2012, LD Holdings signed a Management and Business Development Consulting Agreement with Financial Wellness LLC. Financial Wellness will assist the company in the development an implementation of its business plan.&nbsp; Per agreement, consultant will be compensated through the issuance of 16 million stock options with exercise prices ranging from $0.10 to $2.00 with a possible 2.4 million additional options with an exercise price of $0.05 per share of common stock.</p> <!--egx--><p style="MARGIN:0in 112.5pt 0pt 0in">1. Basis of Presentation</p> <p style="MARGIN:0in 112.5pt 0pt 0in">&nbsp;</p> <p style="MARGIN:0in 112.5pt 0pt 0in">The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. For further information, refer to the financial statements and footnotes thereto included in the Company's annual report for Form 10-K for the year ended December 31, 2011. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three month period ended March 31, 2012 are not necessarily indicative of the results that may be expected for the year ended December 31, 2012.</p> <!--egx--><p style="MARGIN:0in 112.5pt 0pt 0in">4. Commitments and contingencies</p> <p style="MARGIN:0in 112.5pt 0pt 0in">&nbsp;</p> <p style="MARGIN:0in 112.5pt 0pt 0in">The Company leases its office space from a related party, Capital First Management, Inc., through common management and ownership, on a month-to-month basis. Rent expense for the quarter ended March 31, 2012 and 2011 was $7,500 each quarter.</p> <p style="MARGIN:0in 112.5pt 0pt 0in">&nbsp;</p> <p style="MARGIN:0in 112.5pt 0pt 0in">The Company entered into a lease agreement with an unrelated Limited Liability Company effective February 1, 2011.&nbsp;&nbsp;The agreement was for a term of three years with rent commencement date of April 1, 2011 thru March 31, 2012 at a rate of $2,000 per month, April 1, 2012 thru March 31, 2013 at a rate of $2,350 per month and April 1, 2013 through January 31, 2014 at a rate of $2,700 per month.&nbsp;&nbsp;Rent expense was $6,000 and $15,000 for the quarter ended March 31, 2012 and 2011, respectively.</p> <!--egx--><p style="MARGIN:0in 112.5pt 0pt 0in">Nature of Organization</p> <p style="MARGIN:0in 112.5pt 0pt 0in">&nbsp;</p> <p style="MARGIN:0in 112.5pt 0pt 0in">LD Holdings, Inc. (the Company), formerly Leisure Direct, Inc., was formed on January 1, 2000.&nbsp;The Company&#146;s corporate offices are located in Perrysburg, Ohio.&nbsp;&nbsp;In October 2010 the Company opened the first of a series of diners it plans to open in the Midwest.&nbsp;&nbsp;It closed its diner in Monroe, Michigan at the end of August, 2011 and opened a new diner in Toledo, Ohio in October, 2011.&nbsp; The diners cater to the baby boomer generation with a family orientation.</p> <!--egx--><p style="MARGIN:0in 112.5pt 0pt 0in">2. Going Concern</p> <p style="MARGIN:0in 112.5pt 0pt 0in">&nbsp;</p> <p style="MARGIN:0in 112.5pt 0pt 0in">The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company incurred a loss of $100,061 during the three months ended March 31, 2012. Also, as of March 31,2012, the Company had $222 in cash, and current liabilities exceeded its current assets by $3,953,679.</p> <p style="MARGIN:0in 112.5pt 0pt 0in">&nbsp;</p> <p style="MARGIN:0in 112.5pt 0pt 0in">Management's plans include raising additional funding from debt and equity transactions that will be used for acquisitions that should in turn increase sales. Also, the implementation of strong cost management practices and an increased focus on business development should result in the elimination of the operating losses suffered and improvement of cash flows; however, any results of the Company's plans cannot be assumed. These financial statements do not include any adjustments that might result from the outcome of this uncertainty.</p> <!--egx--><p style="MARGIN:0in 112.5pt 0pt 0in">5.&nbsp; Litigation</p> <p style="MARGIN:0in 112.5pt 0pt 0in">&nbsp;</p> <p style="MARGIN:0in 112.5pt 0pt 0in">In 2006, a note holder commenced action against the Company for outstanding obligations owed by the Company.&nbsp; In 2009, a consent judgment was awarded to lender against the Company for the sum of $200,000.&nbsp; This amount is included in accrued interest and notes payable as of March 31, 2012 and December 31, 2011, with no additional interest to be charged.</p> 24495351 0001131089 2012-01-01 2012-03-31 0001131089 2012-05-15 0001131089 2012-03-31 0001131089 2011-12-31 0001131089 2011-01-01 2011-03-31 0001131089 2010-12-31 0001131089 2011-03-31 shares iso4217:USD iso4217:USD shares EX-101.SCH 5 ldhl-20120331.xsd XBRL SCHEMA DOCUMENT 000110 - Disclosure - Litigation link:presentationLink link:definitionLink link:calculationLink 000020 - Statement - Consolidated Balance Sheets link:presentationLink link:definitionLink link:calculationLink 000100 - Disclosure - Commitment and Contingencies link:presentationLink link:definitionLink link:calculationLink 000030 - Statement - Consolidated Balance Sheets Parenthetical link:presentationLink link:definitionLink link:calculationLink 000050 - Statement - Consolidated Statements of Cash Flows link:presentationLink link:definitionLink link:calculationLink 000090 - Disclosure - Equity link:presentationLink link:definitionLink link:calculationLink 000080 - Disclosure - Going Concern link:presentationLink link:definitionLink link:calculationLink 000010 - Document - Document and Entity Information link:presentationLink link:definitionLink link:calculationLink 000070 - Disclosure - Basis of Presentation link:presentationLink link:definitionLink link:calculationLink 000060 - Disclosure - Nature of Operations link:presentationLink link:definitionLink link:calculationLink 000040 - Statement - Consolidated Condensed Statements of Operations link:presentationLink link:definitionLink link:calculationLink 000120 - Disclosure - Subsequent Events link:presentationLink link:definitionLink link:calculationLink EX-101.CAL 6 ldhl-20120331_cal.xml XBRL CALCULATION LINKBASE DOCUMENT EX-101.DEF 7 ldhl-20120331_def.xml XBRL DEFINITION LINKBASE DOCUMENT EX-101.LAB 8 ldhl-20120331_lab.xml XBRL LABELS LINKBASE DOCUMENT Total Current Liabilities Total Current Liabilities Accrued interest payable - related parties Accrued interest payable Entity Filer Category Document and Entity Information Organization, Consolidation and Presentation of Financial Statements Total Other Income (Expense) Total Other Income (Expense) Net Sales - Commitments and Contingencies Disclosure [Text Block] NatureOfOperationsFootnote Entity Common Stock, Shares Outstanding Litigation Cash Paid for Income Taxes Proceeds from common stock issuance Stockholders' Impairment Promissory notes payable - related parties Document Fiscal Period Focus Cash Paid for Interest Depreciation {1} Depreciation Cost of Sales Consolidated Balance Sheets Parenthetical Entity Well-known Seasoned Issuer Commitment and Contingencies Loss per share, basic and diluted Gross Profit Gross Profit Common stock shares outstanding Common stock, par value $0.001; 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Equity
 3 Months Ended
Mar. 31, 2012
Equity  
Stockholders' Equity Note Disclosure [Text Block]

3. Stockholders' Equity

 

On February 28, 2012, LD Holdings, Inc. (LDHL), sold 800,000 restricted shares of the Company’s common stock in a private transaction for $24,000 ($ 0.03 a share).  The stock was sold to two individual long-term investors.
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Going Concern
 3 Months Ended
Mar. 31, 2012
Going Concern  
Going Concern

2. Going Concern

 

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company incurred a loss of $100,061 during the three months ended March 31, 2012. Also, as of March 31,2012, the Company had $222 in cash, and current liabilities exceeded its current assets by $3,953,679.

 

Management's plans include raising additional funding from debt and equity transactions that will be used for acquisitions that should in turn increase sales. Also, the implementation of strong cost management practices and an increased focus on business development should result in the elimination of the operating losses suffered and improvement of cash flows; however, any results of the Company's plans cannot be assumed. These financial statements do not include any adjustments that might result from the outcome of this uncertainty.
XML 15 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Balance Sheets (USD $)
Mar. 31, 2012
Dec. 31, 2011
Cash $ 222 $ 1,765
Inventory 5,600 5,091
Total Current Assets 5,822 6,856
Equipment, net of accumulated depreciation 35,209 37,244
Total Assets 41,031 44,100
Accounts payable and accrued expenses 1,625,437 1,601,195
Accrued interest payable 184,242 182,295
Accrued interest payable - related parties 435,271 419,622
Promissory notes payable 178,940 178,940
Promissory notes payable - related parties 1,535,611 1,504,457
Total Current Liabilities 3,959,501 3,886,509
Common stock, par value $0.001; 900,000,000 shares authorized 21,825,061 (2012) and 21,025,061 (2011) shares issued and outstanding, respectively 21,825 21,025
Preferred stock, par value $0.001; 10,000,000 shares authorized 974,156 shares issued and outstanding 9,742 9,742
Additional paid in capital 4,122,635 4,099,435
Accumulated deficit (8,072,672) (7,972,611)
Total Stockholders' Impairment (3,918,470) (3,842,409)
Total Liabilities and Stockholders' Impairment $ 41,031 $ 44,100
XML 16 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Nature of Operations
 3 Months Ended
Mar. 31, 2012
NatureOfOperationsFootnote  
NatureOfOperationsFootnote

Nature of Organization

 

LD Holdings, Inc. (the Company), formerly Leisure Direct, Inc., was formed on January 1, 2000. The Company’s corporate offices are located in Perrysburg, Ohio.  In October 2010 the Company opened the first of a series of diners it plans to open in the Midwest.  It closed its diner in Monroe, Michigan at the end of August, 2011 and opened a new diner in Toledo, Ohio in October, 2011.  The diners cater to the baby boomer generation with a family orientation.
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Basis of Presentation
 3 Months Ended
Mar. 31, 2012
Organization, Consolidation and Presentation of Financial Statements  
Basis of Accounting [Text Block]

1. Basis of Presentation

 

The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. For further information, refer to the financial statements and footnotes thereto included in the Company's annual report for Form 10-K for the year ended December 31, 2011. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three month period ended March 31, 2012 are not necessarily indicative of the results that may be expected for the year ended December 31, 2012.
XML 19 R3.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Balance Sheets Parenthetical (USD $)
Mar. 31, 2012
Dec. 31, 2011
Common stock par value $ 0.001 $ 0.001
Common stock shares authorized 900,000,000 900,000,000
Common stock shares issued 21,825,061 21,025,061
Common stock shares outstanding 21,825,061 21,025,061
Preferred stock par value $ 0.001 $ 0.001
Preferred stock shares authorized 10,000,000 10,000,000
Preferred stock shares issued 974,156 974,156
Preferred stock shares outstanding 974,156 974,156
XML 20 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6
Document and Entity Information
 3 Months Ended
Mar. 31, 2012
May 15, 2012
Document and Entity Information    
Entity Registrant Name LD HOLDINGS, INC.  
Document Type 10-Q  
Document Period End Date Mar. 31, 2012  
Amendment Flag false  
Entity Central Index Key 0001131089  
Current Fiscal Year End Date --12-31  
Entity Filer Category Smaller Reporting Company  
Entity Current Reporting Status Yes  
Entity Voluntary Filers No  
Entity Well-known Seasoned Issuer No  
Document Fiscal Year Focus 2012  
Document Fiscal Period Focus Q1  
Entity Common Stock, Shares Outstanding   24,495,351
XML 21 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Condensed Statements of Operations (USD $)
 3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Net Sales $ 43,458 $ 107,572
Cost of Sales 17,039 51,336
Gross Profit 26,419 56,236
Selling, General & Administrative Expenses 107,963 181,056
Operating Loss (81,544) (124,820)
Interest expense (18,517) (18,617)
Total Other Income (Expense) (18,517) (18,617)
Net Loss $ (100,061) $ (143,437)
Loss per share, basic and diluted $ 0.00 $ (0.01)
Weighted Average Common Shares Outstanding 21,075,335 19,497,283
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Subsequent Events
 3 Months Ended
Mar. 31, 2012
Subsequent Events  
Subsequent Events [Text Block]

6.  Subsequent Events

 

On April 18, 2012, LD Holdings, Inc. converted $73,433 of debt and accrued interest from a former officer of LD Holdings into 2,670,290 shares of common stock of LD Holdings, Inc.

 

On April 17, 2012, LD Holdings signed a Management and Business Development Consulting Agreement with Financial Wellness LLC. Financial Wellness will assist the company in the development an implementation of its business plan.  Per agreement, consultant will be compensated through the issuance of 16 million stock options with exercise prices ranging from $0.10 to $2.00 with a possible 2.4 million additional options with an exercise price of $0.05 per share of common stock.
XML 23 R11.htm IDEA: XBRL DOCUMENT v2.4.0.6
Litigation
 3 Months Ended
Mar. 31, 2012
Litigation  
Litigation

5.  Litigation

 

In 2006, a note holder commenced action against the Company for outstanding obligations owed by the Company.  In 2009, a consent judgment was awarded to lender against the Company for the sum of $200,000.  This amount is included in accrued interest and notes payable as of March 31, 2012 and December 31, 2011, with no additional interest to be charged.
XML 24 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
 3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Net Loss $ (100,061) $ (143,437)
Depreciation 2,572 361
Shares issued for services   18,750
Change in inventory (509) (148)
Change in accounts payable and accrued expenses 24,242 40,567
Change in accrued interest payable - related parties 1,947 1,954
Change in accrued interest payable 15,649 16,663
Net Cash (Used) in Operating Activities (56,160) (65,290)
Purchase of equipment (537)  
Net Cash (Used) in Investing Activities (537)  
Proceeds from related party notes payable 31,154 66,171
Proceeds from common stock issuance 24,000  
Net Cash Provided by Financing Activities 55,154 66,171
Net (Decrease) in Cash and Equivalents (1,543) 881
Cash and Equivalents at Beginning of Year 1,765 22,820
Cash and Equivalents at End of Year 222 23,701
Cash Paid for Income Taxes      
Cash Paid for Interest      
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Commitment and Contingencies
 3 Months Ended
Mar. 31, 2012
Commitment and Contingencies  
Commitments and Contingencies Disclosure [Text Block]

4. Commitments and contingencies

 

The Company leases its office space from a related party, Capital First Management, Inc., through common management and ownership, on a month-to-month basis. Rent expense for the quarter ended March 31, 2012 and 2011 was $7,500 each quarter.

 

The Company entered into a lease agreement with an unrelated Limited Liability Company effective February 1, 2011.  The agreement was for a term of three years with rent commencement date of April 1, 2011 thru March 31, 2012 at a rate of $2,000 per month, April 1, 2012 thru March 31, 2013 at a rate of $2,350 per month and April 1, 2013 through January 31, 2014 at a rate of $2,700 per month.  Rent expense was $6,000 and $15,000 for the quarter ended March 31, 2012 and 2011, respectively.
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