10KSB/A 1 lilm-10ksba1123107.htm LILM 10KSBA-1 123107

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-KSB/A

 

Amendment No. 1

(Mark One)

 

 

[ X ]

Annual Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

 

For the Fiscal Year Ended December 31, 2007

 

 

[ ]

Transition Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

 

Commission File Number: 000–51872

 

LILM, INC.

(Name of small business issuer in its charter)

 

 

Nevada

87-0645394

 

(State or other jurisdiction of

(I.R.S. Employer

 

incorporation or organization)

Identification No.)

 

1390 South 1100 East # 204, Salt Lake City, Utah 84105-2463

(Address of principal executive offices) (Zip Code)

 

Issuer's telephone no.: (801) 322-0253

 

Securities registered pursuant to Section 12(b) of the Exchange Act:

None

 

Securities registered pursuant to Section 12(g) of the Exchange Act:

Common

 

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 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 [ ]

 

Check if there is no disclosure of delinquent filers in response to Item 405 of Regulation S-B contained in this form, and no disclosure will be contained, to the best of the Registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-KSB or any amendment to this Form 10-KSB. [ ]

 

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

 

 

State the issuer's revenues for its most recent fiscal year. $ 1,693

 

State the aggregate market value of the voting stock held by non-affiliates computed by reference to the price at which the stock was sold, or the average bid and ask prices of such stock as of a specified date within 60 days. $ 70,027 (Based on bid price $0.10 per share)

 

State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date.

 

 

Class

Outstanding as of August 6, 2008

 

 

Common Stock, Par Value

 

$0.001 par value

2,583,750

 

DOCUMENTS INCORPORATED BY REFERENCE

 

A description of "Documents Incorporated by Reference" is contained in Part III, Item 14.

 

Transitional Small Business Disclosure Format.

Yes [

]

No [ X ]
 
 

LILM, INC.

TABLE OF CONTENTS

 

 

Page

 

Explanatory Note

3

 

PART II

 

Item 8A.

Controls and Procedures

3

 

PART III

 

Item 13.

Exhibits

4

 

 

Signatures

5

 

 

 

 

EXPLANATORY NOTE

 

This Amendment No. 1 to LILM, Inc.’s Annual Report on Form 10-KSB/A for the fiscal year ended December 31, 2007, filed with the SEC on March 18, 2008, is being filed solely to revise disclosure included under Item 8A, Controls and Procedures. Except with respect to the referenced revision, this Amendment No. 1 does not reflect events occurring after the filing of the original Form 10-KSB or modify or update those disclosures affected by subsequent events.

 

PART II

 

Item 8A.

Controls and Procedures

 

Our management is responsible for establishing and maintaining adequate internal control over financial reporting. Our internal control system was designed to provide reasonable assurance to our management and Board of Directors regarding the preparation and fair presentation of published financial statements.

 

Our management assessed the effectiveness of our internal control over financial reporting as of December 31, 2007. In making this assessment, it used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control—Integrated Framework. Based on our assessment we believe that, as of December 31, 2007, our internal control over financial reporting is effective based on those criteria.

 

This annual report does not include an attestation report of the Company’s registered accounting firm regarding internal control over financial reporting. Management’s report was not subject to attestation by the Company’s registered public accounting firm pursuant to temporary rules of the Securities and Exchange Commission

 

As of the end of the period covered by this report, we carried out an evaluation, under the supervision and with the participation of management, including our Chief Executive Officer and a person who performs the functions of the Principal Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934. Based upon that evaluation, our chief executive officer and principal financial officer concluded that our disclosure controls and procedures are effective to cause the material information required to be disclosed by us in the reports that we file or submit under the Exchange Act to be recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms.

 

There have been no significant changes in our internal controls or in other factors which could significantly affect internal controls subsequent to the date we carried out our evaluation.

 

 

 

PART III

 

Item 13.

Exhibits

 

 

(a)

Exhibits

 

Exhibit No.

Exhibit Name

 

3.1*

Articles of Incorporation (Nevada)

 

3.2*

By-Laws of Registrant

 

4.1*

Instrument defining rights of holders (See Exhibit No. 3.1, Articles of Incorporation)

 

10.1**

Promissory Note

 

21.1*

Subsidiaries

 

31.1

Certification of C.E.O Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

 

31.2

Certification of Principal Accounting Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

 

32.1

Certification of C.E.O. Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

 

32.2

Certification of Principal Accounting Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

________________

 

*

Included as exhibit to Form 10-SB filed March 30, 2006.

 

**

Included as Exhibit to Amendment No. 1 to Form 10-SB/A filed August 22, 2006

 

 

 

SIGNATURES

 

In accordance with Section 13 or 15(d) of the Exchange Act, the Registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

LILM, Inc.

 

 

By:/S/ GEORGE I. NORMAN, III  

George I. Norman, III

 

President and C.E.O.

 

Dated:

August 7, 2008

 

In accordance with the Exchange Act, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

 

 

Signature

Title

Date

 

 

 

August 7, 2008   

/S/      

GEORGE I. NORMAN, III

President, C.E.O. and director

 

George I. Norman, III

(Principal Accounting Officer)

 

 

 

                      August 7, 2008     

/S/    

LAURIE J. NORMAN

Secretary / Treasurer and Director

 

Laurie J. Norman

 

 

 

August 7, 2008

 

/S/    

JESSIE SCOTT BEAN

Director

 

Jessie Scott Bean