UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of report (Date of earliest event reported): December 31, 2011
U.S. Wireless Online, Inc.
(Exact name of registrant as specified in its charter)
Wyoming | 333-61424 | 82-0505220 |
(State or Other Jurisdiction | (Commission File Number) | (IRS Employer |
of Incorporation) | Identification No.) |
1621 Central Ave., Cheyenne, WY, 82001
(Address of Principal Executive Officers) (Zip Code)
Registrant's telephone number, including area code: 647-426-1640
________________________________________
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[_] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Section 2 - Financial Information
2.02 Results of Operations and Financial Condition
U.S. Wireless Online, Inc., (The “Company”) has voluntarily disclosed unaudited financials for the following:
Year End December 31, 2011
Year End December 31, 2012
The limited financial statements are strictly for informational purposes and should be viewed in conjunction with other available information about the Company. The Company has not consulted with any Public Company Accounting Oversight Board approved auditors, nor with any accountants regarding either the application of accounting principles to any to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered with respect to the Company’s financial statements, and neither a written report or oral advice was provided to the Company by any auditors or accountants that was an important factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issue.
The Company filed Form 15 on March 3, 2010, in accordance with Rule 12g-4(a)(2) of the Securities Exchange Act of 1934. Under Rule 12g-4(a)(2), the Company is not required to file quarterly or annual reports.
Section 9 - Financial Statements and Exhibits
9.01 Financial Statements and Exhibits
No. | Exhibit |
99.1 | December 31, 2011 Year End Financial Statement | |
99.2 | December 31, 2012 Year End Financial Statement |
2 |
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 hereunto duly authorized.
Dated: September 17, 2013 | By: /s/ | |
Rajesh Babaria, CEO | ||
3 |
Exhibit 99.1
U.S. WIRELESS ONLINE, INC. | |
CONSOLIDATED BALANCE SHEET | |
Year End December 31, 2011 | |
(Unaudited) |
BALANCE SHEET
ASSETS
CURRENT ASSETS | ||||
Cash | $ | – | ||
Accounts Receivable | – | |||
Other Receivable | – | |||
Inventory | – | |||
Prepaid Accounts | – | |||
– | ||||
LONG TERM EQUITY INVESTMENT | – | |||
FIXED ASSETS – NBV | 155,200.00 | |||
INTANGIBLE ASSETS – NBV | 19,998.00 | |||
$ | 175,198.00 | |||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||
CURRENT LIABILITIES | ||||
Accounts Payable and Accrued Liabilities | $ | 11,500.00 | ||
Other Payables | 396,500.00 | |||
Taxes Payable | – | |||
$ | 408,000 | |||
LONG TERM LIABILITIES - | – | |||
408,000.00 | ||||
SHAREHOLDERS' EQUITY | ||||
CAPITAL STOCK | ||||
Common Stock, authorized shares 100,000,000 | ||||
Issued and outstanding - 5,06,5205 @ PV $.001 | 5,065 | |||
Preferred Stock-25,000 @ PV .001 | ||||
Issued and outstanding - 1,000,000 @ PV $.001 | 1,000 | |||
Additional Paid In Capital | 2,049,756 | |||
Deficit | (2,288,623.00 | ) | ||
(232,802.00 | ) | |||
$ | (175,198.00 | ) |
1 |
U.S. WIRELESS ONLINE, INC. | ||||
CONSOLIDATED STATEMENT OF CASH FLOWS | ||||
Year End December 31, 2011 | ||||
(Unaudited) |
CASH FLOWS | ||||
Cash flows from operating activities | ||||
Profit/Loss from operations | $ | (241,527.00 | ) | |
Adjustments to cash flows from operating activites: | ||||
Amortization of goodwill | ||||
Depreciation of fixed assets | – | |||
Cash flows from operating activities | $ | (241,527.00 | ) | |
Cash flows from investing activities: | ||||
Capital expenditures | 175,198 | |||
Investment in inventory | ||||
Increase in accounts receivable | – | |||
Decrease in prepaid expenses | – | |||
Cash used in investing activities | $ | 175,198.00 | ||
Cash flows from financing activities: | ||||
Increase in accounts payable and accrued liabilities | 11,500.00 | |||
Increase in paid-in-capital | 8,725.00 | |||
Increase in loans payable | 396,500.00 | |||
Issuance of capital stock | – | |||
Cash Used For financing activities | $ | 416,725.00 | ||
Net increase (decrease) in cash | – | |||
Cash at beginning of period | – | |||
Cash at end of period | $ | – |
2 |
U.S. WIRELESS ONLINE, INC. | ||||
CONSOLIDATED STATEMENT OF EARNINGS AND RETAINED EARNINGS | ||||
Year End December 31, 2011 | ||||
(Unaudited) |
EARNINGS | ||||
REVENUE | ||||
Sales | $ | – | ||
– | ||||
TOTAL SALES | – | |||
COST OF SALES | ||||
Cost of Sales | – | |||
TOTAL COST OF SALES | – | |||
GROSS PROFIT | – | |||
OPERATING EXPENSES | ||||
Administrative Expense | 235,027.00 | |||
Selling Expense | 6,400.00 | |||
(241,527.00 | ) | |||
OTHER INCOME & EXPENSES | – | |||
PROFIT (LOSS) | (241,527 | ) | ||
NET PROFIT (LOSS) | 0 | |||
-241527 | ||||
Deficit - Beginning of period | -2047906 | |||
Deficit - End of period | -2288623 |
3 |
U.S. WIRELESS ONLINE, INC. | ||||||
CONSOLIDATED STATEMENT OF SHAREHOLDERS EQUITY | ||||||
Year End December 31, 2011 | ||||||
(Unaudited) |
Preferred | Stock | Common | Stock & PUC | |||||||||||||||||||||
Shares | Amount | Shares | Amount | R/E | Total | |||||||||||||||||||
Openning Bal | 1,000,000 | $ | 1,000 | 1,862,096,640 | $ | 1,861,997 | $ | (2,047,896.00 | ) | $ | (185,099 | ) | ||||||||||||
Issuance of stk | 1,857,031,435 | 192,824 | 192,824 | |||||||||||||||||||||
Capital Paid In | – | |||||||||||||||||||||||
– | – | – | ||||||||||||||||||||||
Net Profit/Loss | $ | (241,527 | ) | $ | (241,527 | ) | ||||||||||||||||||
Bal June 2010 | 1,000,000 | $ | 1,000 | 5,065,205 | 2,054,821 | $ | –2,288,623 | $ | (232,802 | ) |
NOTE 1. GENERAL ORGANIZATION AND BUSINESS ISSUES
The company was administratively abandoned and reinstated in March 2010 through a court appointed guardian - custodian.
On May 14, 2010, the company announced that it had completed its merger with Go Green Electronic Recycling, a US based recycling company.
In September 2011, Go Green Electronics, in agreement with U.S. Wireless Online, Inc. rescinded its merger agreement and returned to private company status.
The company is reviewing its current merger candidates.
Signed
Rajesh Babaria, CEO
4 |
Exhibit 99.2
U.S. WIRELESS ONLINE, INC. | |
CONSOLIDATED BALANCE SHEET | |
Year End December 31, 2012 | |
(Unaudited) |
BALANCE SHEET
ASSETS
CURRENT ASSETS | ||||
Cash | $ | – | ||
Accounts Receivable | – | |||
Other Receivable | – | |||
Inventory | – | |||
Prepaid Accounts | – | |||
– | ||||
LONG TERM EQUITY INVESTMENT | – | |||
FIXED ASSETS – NBV | 155,200.00 | |||
INTANGIBLE ASSETS – NBV | 19,998.00 | |||
$ | 175,198.00 | |||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||
CURRENT LIABILITIES | ||||
Accounts Payable and Accrued Liabilities | $ | 11,500.00 | ||
Other Payables | 396,500.00 | |||
Taxes Payable | – | |||
$ | 408,000 | |||
LONG TERM LIABILITIES - | – | |||
408,000.00 | ||||
SHAREHOLDERS' EQUITY | ||||
CAPITAL STOCK | ||||
Common Stock, authorized shares 100,000,000 | ||||
Issued and outstanding - 5,06,5205 @ PV $.001 | 5,065 | |||
Preferred Stock-25,000 @ PV .001 | ||||
Issued and outstanding - 1,000,000 @ PV $.001 | 1,000 | |||
Additional Paid In Capital | 2,049,756 | |||
Deficit | (2,288,623.00 | ) | ||
(232,802.00 | ) | |||
$ | (175,198.00 | ) |
1 |
U.S. WIRELESS ONLINE, INC. | ||||
CONSOLIDATED STATEMENT OF EARNINGS AND RETAINED EARNINGS | ||||
Year End December 31, 2012 | ||||
(Unaudited) |
EARNINGS | ||||
REVENUE | ||||
Sales | $ | – | ||
– | ||||
TOTAL SALES | – | |||
COST OF SALES | ||||
Cost of Sales | – | |||
TOTAL COST OF SALES | – | |||
GROSS PROFIT | – | |||
OPERATING EXPENSES | ||||
Administrative Expense | 148,125.00 | |||
Selling Expense | 2,000.00 | |||
(150,125.00 | ) | |||
OTHER INCOME & EXPENSES | – | |||
PROFIT (LOSS) | (150,125 | ) | ||
NET PROFIT (LOSS) | 0 | |||
150125 | ||||
Deficit - Beginning of period | 2288623 | |||
Deficit - End of period | 2438728 |
2 |
U.S. WIRELESS ONLINE, INC. | ||||
CONSOLIDATED STATEMENT OF CASH FLOWS | ||||
Year End December 31, 2012 | ||||
(Unaudited) |
CASH FLOWS | ||||
Cash flows from operating activities | ||||
Profit/Loss from operations | $ | (150,125.00 | ) | |
Adjustments to cash flows from operating activites: | ||||
Amortization of goodwill | ||||
Depreciation of fixed assets | – | |||
Cash flows from operating activities | $ | (150,125.00 | ) | |
Cash flows from investing activities: | ||||
Capital expenditures | 53,527 | |||
Investment in inventory | ||||
Increase in accounts receivable | – | |||
Decrease in prepaid expenses | – | |||
Cash used in investing activities | $ | 53,527.00 | ||
Cash flows from financing activities: | ||||
Increase in accounts payable and accrued liabilities | 2,250.00 | |||
Increase in paid-in-capital | 11,252.00 | |||
Increase in loans payable | 190,150.00 | |||
Issuance of capital stock | – | |||
Cash Used For financing activities | $ | 203,652.00 | ||
Net increase (decrease) in cash | – | |||
Cash at beginning of period | – | |||
Cash at end of period | $ | – |
3 |
U.S. WIRELESS ONLINE, INC. | ||||||
CONSOLIDATED STATEMENT OF SHAREHOLDERS EQUITY | ||||||
Year End December 31, 2012 | ||||||
(Unaudited) |
Preferred | Stock | Common | Stock & PUC | |||||||||||||||||||||
Shares | Amount | Shares | Amount | R/E | Total | |||||||||||||||||||
Openning Bal | 1,000,000 | $ | 1,000 | 5,065,205 | $ | 2,054,821 | $ | (2,288,623.00 | ) | $ | (202,832 | ) | ||||||||||||
Issuance of stk | 94,000,000 | 11,725 | 11,725 | |||||||||||||||||||||
Capital Paid In | – | |||||||||||||||||||||||
– | – | – | ||||||||||||||||||||||
Net Profit/Loss | $ | (150,125 | ) | $ | (150,125 | ) | ||||||||||||||||||
Bal June 2010 | 1,000,000 | $ | 1,000 | 99,065,205 | 2,066,546 | $ | –2,438,748 | $ | (341,232 | ) |
NOTE 1. GENERAL ORGANIZATION AND BUSINESS ISSUES
The company was administratively abandoned and reinstated in March 2010 through a court appointed guardian - custodian.
On May 14, 2010, the company announced that it had completed its merger with Go Green Electronic Recycling, a US based recycling company.
In September 2011, Go Green Electronics, in agreement with U.S. Wireless Online, Inc. rescinded its merger agreement and returned to private company status.
The company is reviewing its current merger candidates.
Signed
Rajesh Babaria, CEO
4 |