10-Q 1 mctc_2017feb28-10q.htm QUARTERLY REPORT

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

  

 

 

 

FORM 10-Q

 

(Mark One)

 

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

 

For quarterly period ended February 28, 2017

 

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

 

For the transition period from _____ to _____

 

Commission File Number: 333-146404

 

MICROCHANNEL TECHNOLOGIES CORPORATION

(Exact name of registrant as specified in its charter)

 

Nevada   98-0539775
(State or other jurisdiction of   (I.R.S. Employer

incorporation or organization)

 

  Identification No.)
     
1919 NW 19th Street, Suite 302    
     
Fort Lauderdale, FL   33311
(Address of principal executive offices)   (Zip Code)

 

(954) 551-7701

(Registrant’s telephone number, including area code)

 

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

 

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

 

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

 

Large accelerated filer ¨   Accelerated filer ¨  
           

Non-accelerated filer (Do not check if a smaller

reporting company)

¨   Smaller reporting company x  

 

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

 

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: 53,864,600 shares of common stock, par value $0.0001, were outstanding on, February 16, 2018.

 

 

 

 

 
 

 

 

 

MICROCHANNEL TECHNOLOGIES CORPORATION

 

FORM 10-Q

 

For the Period Ended February 28, 2017

 

Table of Contents

  

PART I  FINANCIAL INFORMATION
   
Item 1. Financial Statements (Unaudited)  
   
Balance Sheets 3
   
Statements of Operations 4
   
Statements of Cash Flows 5
   
Notes to Financial Statements 6
   
Item 2.  Management's Discussion and Analysis of Financial Condition and Results of Operations 8
   
Item 4.  Controls and Procedures 11
   
PART II  OTHER INFORMATION
   
Item 1. Legal Proceedings 12
   
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 12
   
Item 3. Defaults Upon Senior Securities 12
   
Item 4. Mine Safety Disclosures 12
   
Item 5. Other Information 12
   
Item 6. Exhibits 12
   
Signatures 13
   
Certifications  

 

 

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PART I — FINANCIAL INFORMATION

 

 

Microchannel Technologies Corporation
BALANCE SHEETS
       
           
    (Unaudited)      
    February 28,    August 31, 
    2017    2016 
ASSETS          
  Current Assets:          
  Cash  $4,922   $5,012 
  Total Current Assets   4,922    5,012 
           
TOTAL ASSETS  $4,922   $5,012 
           
           
           
LIABILITIES & SHAREHOLDER'S DEFICIT          
  Current Liabilities:          
  Accounts Payable  $1,872   $1,335 
  Accrued Interest   17,779    14,308 
  Note Payable to Shareholder   70,000    70,000 
           
  Total Current Liabilities   89,651    85,643 
           
  Total Liabilities   89,651    85,643 
           
  Stockholder's Deficit          
  Common Stock, par value $0.0001,          
      300,000,000 shares Authorized,  53,864,600 shares Issued and          
      Outstanding at February 28, 2017 and August 31, 2016   5,386    5,386 
  Additional Paid-In Capital   556,711    556,711 
  Accumulated Deficit   (646,826)   (642,728)
           
  Total Stockholder's Deficit   (84,729)   (80,631)
           
TOTAL LIABILITIES AND STOCKHOLDER'S DEFICIT  $4,922   $5,012 
           
The accompanying notes are an integral part of these unaudited financial statements          

 

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Microchannel Technologies Corporation
STATEMENTS OF OPERATIONS
(Unaudited)
             
   For the Three Months Ended  For the Six Months Ended
   February 28,  February 29,  February 28,  February 29,
   2017  2016  2017  2016
             
Revenues:  $—     $—     $—     $—   
                     
Expenses:                    
    Director and Officer fees   —      —      —      —   
    Professional fees   —      —      —      —   
   General and administrative expense   402    389    627    779 
 Total Operating Expenses   402    389    627    779 
                     
 Operating Loss   (402)   (389)   (627)   (779)
                     
Other  Expense                    
Interest expense   1,726    1,517    3,471    2,739 
                     
 Net Loss  $2,128   $(1,906)  $(4,098)  $(3,518)
                     
 Basic & Diluted Loss per Common Share  $0.00   $(0.00)  $(0.00)  $(0.00)
                     
 Weighted Average Common Shares                    
 Outstanding   53,864,600    53,864,600    53,864,600    53,864,600 
                     
 The accompanying notes are an integral part of these unaudited financial statements                    

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Microchannel Technologies Corporation
STATEMENT OF CASH FLOWS
(Unaudited)
       
   For the Six Months Ended
   February 28,  February 29,
   2017  2016
CASH FLOWS FROM OPERATING          
ACTIVITIES:          
Net Loss  $(4,098)  $(3,518)
 Adjustments to reconcile net loss to net cash          
 used in operating activities:          
Changes In:          
Accounts Payable   537    360 
Accrued Interest   3,471    2,739 
Net Cash Used in Operating Activities   (90)   (419)
           
Net (Decrease) Increase in Cash   (90)   (419)
Cash at Beginning of Period   5,012    5,850 
           
Cash at End of Period  $4,922   $5,431 
           
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:          
Cash paid during the year for:          
Interest  $—     $—   
Franchise Taxes  $—     $—   
           
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES          
None.          
           
The accompanying notes are an integral part of these unaudited financial statements          

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MICROCHANNEL TECHNOLOGIES CORPORATION

 

NOTES TO FINANCIAL STATEMENTS

 

February 28, 2017

(Unaudited)

 

Note 1. Organization and Description of Business

 

MicroChannel Technologies Corporation (the “Company”) was formed as a wholly-owned subsidiary of New Energy Technologies, Inc. (“New Energy”). New Energy spun off its issued and outstanding shares to New Energy’s shareholders on December 18, 2007. The Company was incorporated under the name MultiChannel Technologies Corporation on February 28, 2005 in the State of Nevada, and changed to its existing name on April 4, 2005.

 

The Company is not currently engaged in any business operations. It is, however, in the process of attempting to identify, locate, and if warranted, acquire new commercial opportunities.

 

Note 2. Going Concern Uncertainties

 

The Company has not generated any revenues, has an accumulated deficit of $646,826 as of February 28, 2017, and does not have positive cash flows from operating activities. The Company expects to incur additional losses as it continues to identify and develop new commercial opportunities. The Company will be subject to the risks, uncertainties, and difficulties frequently encountered by early-stage companies. The Company may not be able to successfully address any or all of these risks and uncertainties. Failure to adequately do so could cause the Company’s business, results of operations, and financial condition to suffer. These conditions raise substantial doubt about the Company’s ability to continue as a going concern for a period of one year from the issuance date of these financial statements.

 

The Company’s ability to continue as a going concern is an issue due to its net losses and negative cash flows from operations, and its need for additional financing to fund future operations. Management plans to identify commercial opportunities and to obtain necessary funding from outside sources. There can be no assurance that such funds, if available, can be obtained on terms reasonable to the Company. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern and do not include any adjustments that may result from the outcome of this uncertainty. Based on the Company’s current level of expenditures, management believes that cash on hand is adequate to fund operations for at least the next twelve months.

 

Note 3.  Summary of Significant Accounting Policies

 

Basis of Presentation

 

The accompanying interim financial statements have been prepared in accordance with U.S. GAAP and should be read in conjunction with the audited financial statements and notes thereto contained in the Company's latest Annual Report filed with the SEC on Form 10-K for the year ended August 31, 2016. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the unaudited interim financial statements that would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal year as reported in the Form 10-K have been omitted..

 

Estimates

 

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and expenses during the reporting period. On an on-going basis, the Company evaluates its estimates. Actual results and outcomes may differ materially from the estimates as additional information becomes known

 

Cash and Cash Equivalents

 

Cash and cash equivalents includes highly liquid investments with original maturities of six months or less. On occasion, the Company has amounts deposited with financial institutions in excess of federally insured limits.

 

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 Fair Value of Financial Instruments

 

The Company measures certain financial assets and liabilities at fair value based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. The carrying value of cash and cash equivalents and accounts payable approximate their fair value because of the short-term nature of these instruments and their liquidity. Management is of the opinion that the Company is not exposed to significant interest or credit risks arising from these financial instruments.

 

Income Taxes

 

Deferred income tax assets and liabilities are determined based on the estimated future tax effects of net operating loss and credit carryforwards and temporary differences between the tax basis of assets and liabilities and their respective financial reporting amounts measured at the current enacted tax rates. The Company records an estimated valuation allowance on its deferred income tax assets if it is not more likely than not that these deferred income tax assets will be realized.

 

The Company recognizes a tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. As of the previous years ended August 31, 2016 and 2015, the Company has not recorded any unrecognized tax benefits.

 

Segment Reporting

 

The Company’s business currently operates in one segment.

 

Net Loss per Share

 

The computation of basic net loss per common share is based on the weighted average number of shares that were outstanding during the year. The computation of diluted net loss per common share is based on the weighted average number of shares used in the basic net loss per share calculation plus the number of common shares that would be issued assuming the exercise of all potentially dilutive common shares outstanding using the treasury stock method. See Note 4. Net Loss Per Share.

 

Recently Issued Accounting Pronouncements

 

The Company reviews new accounting standards as issued. Although some of these accounting standards issued or effective after the end of the Company’s previous fiscal year may be applicable to the Company, it has not identified any standards that it believes merit further discussion. The Company does not expect the adoption of any recently issued accounting pronouncements to have a significant impact on its financial position, results of operations, or cash flows.

 

Note 4. Net Loss Per Share

 

During the six months ended February 28, 2017 and February 29, 2016, the Company recorded a net loss. The Company does not have any potentially dilutive securities outstanding. Therefore, basic and diluted net loss per share is the same for those periods.

 

Note 5. Note Payable to Shareholder

 

On January 9, 2014, the Company issued a $70,000 note payable to a shareholder of the Company. The note payable bears interest at an annual rate of 7%, which then increased to 10% after it was in default. Principal and accrued interest on the note payable were due on January 9, 2016, with a default annual rate of 10% interest after that date. The outstanding balance of principal and accrued interest may be prepaid without penalty. During the six months ended February 28, 2017 and February 29, 2016, the Company recorded an interest expense of $3,471 and $2,739, respectively, related to the note payable. Accrued interest at February 28, 2017 related to the note payable was $17,779. At February 28, 2017, the original principal balance of $70,000 on the note payable remained outstanding. The note payable was not repaid on January 9, 2016 and is thus in default as of the date of this filing.

 

  

 

 

 

 

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Note 6. Income Taxes

 

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets at February 28, 2017 and August 31, 2016 are as follows:

 

   February 28,
2017
  August 31,
2016
Deferred tax assets:          
Net operating loss carryforwards  $171,893   $169,710 
Capitalized research and development   1,788    2,577 
Research and development credit carry forward   1,963    1,963 
Total deferred tax assets   175,644    174,250 
           
Less: valuation allowance   (175,644)   (174,250))
           
Net deferred tax asset  $—     $—   

 

The net increase in the valuation allowance for deferred tax assets was $1,394 for the six months ended February 28, 2017. The Company evaluates its valuation allowance on an annual basis based on projected future operations. When circumstances change and this causes a change in management’s judgment about the realizability of deferred tax assets, the impact of the change on the valuation allowance is reflected in current operations.

 

For federal income tax purposes, the Company has net U.S. operating loss carry forwards at February 28, 2017 available to offset future federal taxable income, if any, of $505,568, which will fully expire by the fiscal year ended August 31, 2035.  Accordingly, there is no current tax expense for the three and six months ended February 28, 2017 and February 29, 2016. In addition, the Company has research and development tax credit carry forwards of $1,963 at February 28, 2017, which are available to offset federal income taxes and fully expire by August 31, 2028.

 

The utilization of the tax net operating loss carry forwards may be limited due to ownership changes that have occurred as a result of sales of common stock.

 

The effects of state income taxes were insignificant for the three and six months ended February 28, 2017 and February 29, 2016.

 

The following is a reconciliation between expected income tax benefit and actual, using the applicable statutory income tax rate of 34% for the six months ended February 28, 2017:

 

 

The fiscal years 2012 through 2015 remain open to examination by federal authorities and other jurisdictions in which the Company operates.

 

 

On December 22, 2017, the Tax Cuts and Jobs Act was enacted. This law substantially amended the Internal Revenue Code, including reducing the U.S. corporate tax rates. Upon enactment, the Company’s deferred tax asset and related valuation allowance decreased by $66,407 to $109,237. As the deferred tax asset is fully allowed for, this change in rates had no impact on the Company’s financial position or results of operations.

 

 

 

 

 

 

 

 

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

 

Forward-Looking Statements

 

Except for the historical information presented in this document, the matters discussed in this Form 10-Q for the quarter ended February 28, 2017, contain forward-looking statements which involve assumptions and our future plans, strategies, and expectations. These statements are generally identified by the use of words such as “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project,” or the negative of these words or other variations on these words or comparable terminology. These statements are expressed in good faith and based upon a reasonable basis when made, but there can be no assurance that these expectations will be achieved or accomplished.

 

Such forward-looking statements include statements regarding, among other things, (a) our potential profitability and cash flows, (b) our growth strategies, (c) our future financing plans, and (d) our anticipated needs for working capital. This information may involve known and unknown risks, uncertainties, and other factors that may cause our actual results, performance, or achievements to be materially different from the future results, performance, or achievements expressed or implied by any forward-looking statements. These statements may be found under “Management’s Discussion and Analysis of Financial Condition and Results of Operations” as well as in this Form 10-Q generally. Actual events or results may differ materially from those discussed in forward-looking statements as a result of various factors, including, without limitation, the matters described in this Form 10-Q generally. In light of these risks and uncertainties, there can be no assurance that the forward-looking statements contained in this filing will in fact occur. In addition to the information expressly required to be included in this filing, we will provide such further material information, if any, as may be necessary to make the required statements, in light of the circumstances under which they are made, not misleading.

 

Although forward-looking statements in this report reflect the good faith judgment of our management, forward-looking statements are inherently subject to known and unknown risks, business, economic and other risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this report. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this report, other than as may be required by applicable law or regulation. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected.

 

Except where the context otherwise requires and for purposes of this Form 10-Q only, “we,” “us,” “our,” “Company,” “our Company,” and “MicroChannel” refer to MicroChannel Technologies Corporation.

 

Overview

 

The following discussion and analysis of our financial condition and results of operations (“MD&A”) should be read in conjunction with our financial statements and the accompanying notes to the financial statements included in this Form 10-Q.

 

The MD&A is based on our financial statements, which have been prepared in accordance with U.S. GAAP. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities and expenses and related disclosure of contingent assets and liabilities. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions .

 

 

 

 

 

 

 

 

 

 

 

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 Background

 

We were formed as a wholly-owned subsidiary of New Energy Technologies, Inc. New Energy spun off its issued and outstanding shares to New Energy’s shareholders on December 18, 2007. We were incorporated under the name MultiChannel Technologies Corporation on February 28, 2005 in the State of Nevada, and changed to our existing name, MicroChannel Technologies Corporation, on April 4, 2005.

 

We are not currently engaged in any business operations. We are, however, in the process of attempting to identify, locate, and if warranted, acquire new commercial opportunities.

 

 

Results of Operations

 

For the Three and Six Months Ended February 28, 2017 and February 29, 2016

 

The director and officer fees were $0 in the three and six months ended February 28, 2017 and February 29, 2016. The director and officer fees and professional fees were $0, in the three months ended February 28, 2017 and February 29, 2016. This was due to a decrease in business operations in 2015 and 2016. General & Administrative expenses were $627 and $779, for the six months ended February 28, 2017 and February 29, 2016, respectively and $402 and $389, for the three months ended February 28, 2017 and February 29, 2016, respectively.

 

The interest expense of $3,471 and $2,739 for the six months ended February 28, 2017 and February 29, 2016, respectively, and $1,726 and $1,517 for the three months ended February 28, 2017 and February 29, 2016, respectively, is related to the note payable that the Company issued on January 9, 2014, in the amount of $70,000, to a shareholder of the Company. The note payable bears interest at an annual rate of 7%, which then increased to 10% after it was in default. Principal and accrued interest on the note payable were due on January 9, 2016, with a default annual rate of 10% interest after that date. The outstanding balance of principal and accrued interest may be prepaid without penalty. As of February 28, 2017, there cumulative interest due of $17,779.

 

Net cash used in operating activities was $90 for the six months ended February 28, 2017, compared to net cash used in operating activities of $419 for the prior six months ended February 29, 2016. Based on our current level of expenditures, additional funding is required to cover our operations for at least the next twelve months. The company is in the process of attempting to identify, locate, and if warranted, acquire new commercial opportunities.

 

Liquidity and Capital Resources

 

As of the year ended August 31, 2016, we had an accumulated deficit of $642,728 and cash and cash equivalents of $5,012. As of the current quarter ended February 28, 2017, we had an accumulated deficit of $646,826 and cash and cash equivalents of $4,922. In January 2014, we received funding by issuing a $70,000 note payable, which is still outstanding at February 28, 2017. The note payable was due on January 9, 2016 and has not been repaid as of the date of this filing and is thus in default.

 

Other Contractual Obligations

 

As of the six months ended February 28, 2017 and year ended August 31, 2016, we do not have any contractual obligations other than the $70,000 note payable and related accrued interest. The note payable was due on January 9, 2016 and has not been repaid as of this filing and is thus in default.

 

Off-Balance Sheet Arrangements

 

We have no off-balance sheet arrangements.

 

Recently Issued Accounting Pronouncements

 

We review new accounting standards as issued. Although some of these accounting standards issued or effective after the end of our previous fiscal year may be applicable to the Company, we have not identified any standards that we believe merit further discussion. We do not expect the adoption of any recently issued accounting pronouncements to have a significant impact on our financial position, results of operations, or cash flows.

 

We adopted Accounting Standards Update (“ASU”) 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements during the year ended August 31, 2014, thereby no longer presenting or disclosing any information required by Topic 915.

 

 

 

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Item 4. Controls and Procedures

 

Disclosure Controls and Procedures

 

Under the supervision and with the participation of our Chief Executive Officer and Chief Financial Officer, Garry McHenry, we conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 (the “Exchange Act”), as of the end of the period covered by this quarterly report. Based on this evaluation, Garry McHenry, our Chief Executive Officer and Chief Financial Officer concluded that as of February 28, 2017, our disclosure controls and procedures were not effective such that the information required to be disclosed in our United States Securities and Exchange Commission (the “SEC”) reports is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms, and is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.

 

The material weakness identified relates to the lack of proper segregation of duties. The Company believes that the lack of proper segregation of duties is due to the Company’s limited resources.

Changes in Internal Controls Over Financial Reporting

 

There were no changes in our internal control over financial reporting identified in connection with our evaluation of these controls as of the end of our last fiscal quarter as covered by this report on February 28, 2017 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

 

Inherent Limitations on Effectiveness of Controls 

 

The Company's management does not expect that its disclosure controls or its internal control over financial reporting will prevent or detect all error or all fraud and is not effective. A control system, no matter how well designed and operated, can provide only reasonable, not absolute, assurance that the control system's objectives will be met. The design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Further, because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that misstatements due to error or fraud will not occur or that all control issues and instances of fraud, if any, within the Company have been detected. These inherent limitations include the realities that judgments in decision making can be faulty and that breakdowns can occur because of simple error or mistake. Controls can also be circumvented by the individual acts of some persons, by collusion of two or more people, or management override of the controls. The design of any system of controls is based in part on certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions.

 

 

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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. Mine Safety Disclosures

 

Not applicable.

 

Item 5. Other Information

 

None.

 

Item 6. Exhibits

 

Exhibit No. Description of Exhibit
   
3.1 Articles of Incorporation, as amended. (1)
   
3.2 By Laws. (2)
   
31.1 Certification of Principal Executive Officer and Principal Financial Officer Pursuant to Rule 13(a)-14 of the Securities Exchange Act of 1934, As Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. *
   
32.1 Certification of Principal Executive Officer and Principal Financial Officer Pursuant to 18 USC. Section 1350, As Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. *

 

 

 

 

*Filed herewith.

 

(1) Incorporated by reference to the exhibits filed as part of the report on Form 10-Q filed by MicroChannel Technologies Corporation on April 8, 2010.

 

(2) Incorporated by reference to the exhibits filed as part of the report on Form SB-2 filed by MicroChannel Technologies Corporation on October 1, 2007.

 

 

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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.

 

  MicroChannel Technologies Corporation
  (Registrant)
     
February 16, 2018 By: /s/ Garry McHenry
  Garry McHenry
  President, Chief Executive Officer,
 

Chief Financial Officer, and Director

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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