UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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FORM 10Q
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(Mark One)
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2010
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE
ACT
For the transition period from __________ to ___________
Commission file number: 000-53262
INTREORG SYSTEMS, INC.
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(Exact name of registrant as specified in its charter)
Texas 45-0526215
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(State of Incorporation) (IRS Employer ID Number)
501 Trophy Lake Drive, Suite 314, PMB 106, Trophy Club, TX 76262
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(Address of principal executive offices)
817-491-8611
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(Registrant's Telephone number)
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 past 12 months (or for such shorter period that the registrant was required
to file such reports), and (2) has been subject to the 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 (ss.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 []
Indicate by check mark whether the registrant is a large accelerated file, 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 [ ] Smaller reporting company [X]
(Do not check if a smaller reporting company)
Indicate by check mark whether the registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act). Yes [ ] No [X]
Indicate the number of share outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.
As of August 13, 2010, there were 10,321,016 shares of the registrant's common
stock issued and outstanding.
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements (Unaudited) Page
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Balance Sheets -June 30, 2010 and December 31, 2009 F-1
Statements of Operations -
Three and Six months ended June 30, 2010 and 2009 and From
February 13, 1997 (Inception) to June 30, 2010 F-2
Statements of Changes in Shareholders' Deficit -
From February 13, 1997 (Inception) to June 30, 2010 F-3
Statements of Cash Flows -
Six months ended June 30, 2010 and
From February 13, 1997 (Inception) to June 30, 2010 F-4
Notes to the Financial Statements F-5
Item 2. Management's Discussion and Analysis of Financial Condition
and Results of Operations 1
Item 3. Quantitative and Qualitative Disclosures About Market Risk
- Not Applicable 3
Item 4. Controls and Procedures 3
Item 4T. Controls and Procedures 4
PART II - OTHER INFORMATION
Item 1. Legal Proceedings -Not Applicable 4
Item 1A. Risk Factors - Not Applicable
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 4
-Not Applicable
Item 3. Defaults Upon Senior Securities - Not Applicable 5
Item 4. Removed and Reserved 5
Item 5. Other Information - Not Applicable 5
Item 6. Exhibits 5
SIGNATURES 6
PART I
ITEM 1. FINANCIAL STATEMENTS
INTREorg Systems, Inc.
(A Development Stage Company)
Balance Sheets
June 30, December 31,
2010 2009
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(Audited)
ASSETS:
Current Assets:
Cash $ - $ 13
Prepaid expenses 1,719 -
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Total Current Assets 1,719 13
Furniture and fixtures - net 79 379
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TOTAL ASSETS $ 1,798 $ 392
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LIABILITIES & STOCKHOLDERS' DEFICIT
Current Liabilities
Cash overdraft $ 148 $ 54
Accounts payable 268,848 221,035
Accrued expenses and liabilities 696,804 643,649
Notes Payable 521,000 521,000
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Total Current Liabilities 1,486,800 1,385,738
Long-Term Liabilities
Convertible promissory notes 471,202 471,202
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Total Liabilities 1,958,002 1,856,940
Stockholders' Deficit
Preferred Stock, no par value; 2,000,000 shares authorized
none and 247,100 shares issued and outstanding
at June 30, 2010 and December 31, 2009, respectively - -
Common Stock, no par value; 10,000,000 shares authorized
10,320,016 and 10,305,016 shares issued and outstanding
at June 30, 2010 and December 31, 2009, respectively 559,455 559,455
Deficit accumulated during the development stage (2,515,659) (2,416,003)
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Total Stockholders' deficit (1,956,204) (1,856,548)
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TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 1,798 $ 392
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The accompanying notes are an integral part of these financial statements.
F-1
INTREorg Systems, Inc.
(A Development Stage Company)
Statements of Operations
(Unaudited)
November 3, 2003
For the Three Months Ended For the Six Months Ended (Inception) to
June 30, June 30, June 30,
2010 2009 2010 2009 2010
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INTREorg Systems, Inc.
(A Development Stage Company)
Statement of Cash Flows
(Unaudited)
November 3, 2003
For the Six Months Ended (Inception) to
June 30, June 30,
2010 2090 2010
---------------- ----------------- --------------------
Cash Flows from Operating Activities
Net Loss $ (99,656) $ (71,736) $ (2,515,659)
Adjustments to reconcile net loss to net cash used
by operating activities
Common stock issued for services 3,750
Depreciation 300 9,031 16,293
Allowance for doubtful accounts 7,261
Reserve for investment 1,000
Changes in operating assets and liabilities
Increase in Accounts Receivable and Advances - - (7,261)
Increase in Accounts Payable and accrued liabilities 100,968 59,751 1,379,968
(Increase) Prepaid expenses (1,719) - -
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Net Cash Flows Used by Operating Activities (107) (2,954) (1,114,648)
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Cash Flows from Investing Activities
Acquisition of Fixed Assets - - (16,372)
Acquisition of Investments - - (1,000)
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Net Cash Flows Provided (Used) by Investing Activities - - (17,372)
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Cash Flows from Financing Activities
Cash overdraft 94 - 147
Increase / (decrease) in loans payable - 577,886
Issuance of Preferred A Stock - - 247,100
Issuance of Common Stock - - 308,605
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Net Cash Flows Provided by Financing Activities 94 - 1,133,738
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Net (Decrease) Increase in Cash (13) (2,954) 1,719
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Cash at Beginning of Period 13 3,330 -
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Cash at End of Period $ - $ 376 $ 1,719
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Supplemental Disclosure of Cash Flow Informantion
Cash paid for interest $ - $ - $ 32,008
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Cash paid for taxes $ - $ - $ -
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Supplemental Disclosure of Non-Cash Flow Information
Debt converted to Convertible Notes Payable $ - $ 471,202 $ 471,202
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The accompanying financial statements are an integral part of these financial statements.
F-3
INTREorg SYSTEMS, INC.
(A Development Stage Enterprise)
Statement of Stockholders' Equity (Deficit)
From November 3, 2003 (Inception) through June 30, 2010
(Unaudited)
Deficit
Accum. During
Comon Stock Preferred A Stock the Development
# of Shares Amount # of Shares Amount Stage Totals
--------------------------- ---------------------- --------------- ---------------
Balance - November 3, 2003 - $ - $ - $ - $ -
Stock issued for cash 1,000,000 5,000 5,000
Net Loss for period - (3,325) (3,325)
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Balance - December 31, 2003 1,000,000 5,000 - - (3,325) 1,675
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Stock issued for cash 33,000 16,500 169,100 169,100 185,600
Stock issued for services 145,833 729 729
Stock issued for compensation 448,333 13,518 13,518
Net Loss for period (605,823) (605,823)
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Balances - December 321, 2004 1,627,166 35,747 169,100 169,100 (609,148) (404,301)
Stock issued for cash 64,000 32,000 76,000 76,000 108,000
Stock issued for services 297,000 8,850 8,850
Stock issued for compensation 61,000 30,500 30,500
Stock issued for interest 990,000 9,900 2,000 2,000 11,900
Net Loss for period (657,305) (657,305)
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Balances - December 31, 2005 3,039,166 116,997 247,100 247,100 (1,266,453) (902,356)
Stock issued for services 250,000 125,000 125,000
Stock issued for interest 1,831,250 18,313 18,313
Net Loss for period (313,399) (313,399)
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Balances - December 31, 2006 5,120,416 260,310 247,100 247,100 (1,579,852) (1,072,442)
Stock issued for services 812,000 8,120 8,120
Stock issued for interest 2,635,000 26,350 26,350
Net Loss for period (383,975) (383,975)
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Balances - December 31, 2007 8,567,416 294,780 247,100 247,100 (1,963,827) (1,421,947)
Stock issued for services 625,000 6,250 6,250
Stock issued for interest 757,500 7,575 7,575
Convert preferred to common 247,100 247,100 (247,100) (247,100) -
Reconciliation differences 108,000 -
Net Loss for period (293,201) (293,201)
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Balances - December 31, 2008 10,305,016 555,705 - - (2,257,028) (1,701,323)
Stock issued for services 15,000 3,750 3,750
Net Loss for period (158,975) (158,975)
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Balances - December 31, 2009 10,320,016 559,455 - - (2,416,003) (1,856,548)
Net Loss for period - - - - (99,656) (99,656)
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Balances - June 30, 2010 10,320,016 $ 559,455 - $ - $ (2,515,659) $ (1,956,204)
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The accompanying notes are an integral part of these financial statements.
F-4
INTREORG SYSTEMS, INC.
(A Development Stage Company)
Notes to the Financial Statements
For the six months ended June 30, 2010
(Unaudited)
Note 1. Organization, Basis of Presentation and Summary of Significant
Accounting Policies
Organization
Intreorg Systems, Inc. (the Company) was incorporated under the laws of the
State of Texas on November 3, 2003. The Company was organized for the purpose of
providing internet consulting and "back office" services to companies. As well
as, to pursue any other lawful business opportunity as decided upon by the board
of directors. The Company's fiscal year end is December 31st.
Basis of Presentation
Interim Accounting
In the opinion of the management of the Company, the accompanying unaudited
financial statements include all material adjustments, including all normal and
recurring adjustments, considered necessary to present fairly the financial
position and operating results of the Company for the periods presented. The
financial statements and notes do not contain certain information included in
the Company's financial statements for the year ended December 31, 2009. It is
the Company's opinion that when the interim financial statements are read in
conjunction with the December 31, 2009 Audited Financial Statements, the
disclosures are adequate to make the information presented not misleading.
Interim results are not necessarily indicative of results for a full year or any
future period.
Development Stage Company
The Company has not earned significant revenues from limited principal
operations. Accordingly, the Company's activities have been accounted for as
those of a Development Stage Enterprise. Among the disclosures required are that
the Company's financial statements be identified as those of a development stage
company, and that the statements of operations, stockholders' equity (deficit)
and cash flows disclose activity since the date of the Company's inception.
Going Concern
The Company's financial statements have been presented on the basis that it is a
going concern, which contemplates the realization of assets and the satisfaction
of liabilities in the normal course of business. The Company's current
liabilities exceed the current assets by $1,485,081 at June 30, 2010. During the
six months ended June 30, 2010, the Company did not generate any revenues. At
June 30, 2010, the Company had a deficit accumulated during its development
stage of $2,515,659.
The Company is in the development stage and has not earned revenues from
operations. The Company's ability to continue as a going concern is dependent
upon its ability to develop additional sources of capital or locate a merger
candidate and ultimately, achieve profitable operations. There can be no
assurance that the Company will be successful in obtaining such financing, or
that it will attain positive cash flow from operations. Management believes that
actions presently being taken provide the opportunity for the Company to
F-5
continue as a going concern. The accompanying financial statements do not
include any adjustments that might result from the outcome of these
uncertainties. Management is seeking new capital to carry forward the purposes
of the Company.
Summary of Significant Accounting Policies
Cash and Cash Equivalents
The Company considers all highly-liquid debt instruments, with an original
maturity of three months, to be cash equivalents.
Use of Estimates
The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities, and disclosure of
contingent assets and liabilities at the date of the financial statements and
the reported amounts of revenue and expenses during the reporting period. Actual
results could differ from those estimates.
Net Loss Per Share
Net loss per share is based on the weighted average number of common shares
outstanding during the period. This number has not been adjusted for outstanding
options since the average would be anti-dilutive.
Property and Equipment
Property and equipment are stated at cost, less accumulated depreciation.
Depreciation is provided for using the straight-line method over the useful life
of the assets.
Other Comprehensive Income
INTREorg Systems, Inc. has no material components of other comprehensive income
(loss), and accordingly, net loss is equal to comprehensive loss in all periods.
Note 2 - Notes Payable
Prior to the year ended December 31, 2008, the Company raised $577,886 in bridge
loans in order to be able to continue operations. These loans carry interest
rates from 6% to 10% per annum and have due dates between 909 and 180 days. The
providers of these loans were also given "equity kickers" of stock in the amount
of 1 share of common stock for each one cent of loan amount. Prior to January 1,
2009, the holders were issued shares of the Company's common stock in equal
amount to the interest accrued for extensions on the payment of the notes.
During the year ended December 31, 2009, holders of notes totaling $56,866
(principal and outstanding interest on the date of conversion) converted their
notes into Commercial Convertible Promissory Notes (Convertible Promissory
Notes). The Convertible Promissory Notes are unsecured, have an interest rate of
6% and a due date of April 10, 2011. For further details, see Note 3 -
Convertible Promissory Notes.
F-6
Note 3 -Convertible Notes Payable
On April 10, 2009, a vendor owed $406,961 agreed to convert the amount owed to
it into long-term debt in the form of a Convertible Promissory Note.
On April 10, 2009, holders of outstanding promissory notes totaling $56,866 and
accrued interest of $7,375, agreed to convert the amounts owed to them into
long-term Convertible Promissory Notes.
The Convertible Promissory notes are unsecured, have an interest rate of 6% and
a due date of April 10, 2011. The promissory notes provide the holders with the
right to convert in part or all of the outstanding principal and/or interest
into shares of the Company's common stock at a rate of $1 per share. At June 30,
2010 and December 31, 2009, $471,202 was outstanding.
Note 4 - Capital Stock Transactions
During the six months ended June 30, 2010 the Company did not issue any shares
of its common stock.
During the year ended December 31, 2009, the Company issued 15,000 shares of
common stock valued at $3,750 for consulting services.
On October 6, 2009 the Company entered into an investment banking agreement. The
terms of the agreement are a such. For any money they raise the Company is
obligated to an 8% commission in cash and a 2% expenses allowance in cash and
10% additional in common stock at a 110% of market price over a 5 day average.
Note 5 - Subsequent Events
The Company evaluated events through August 11, 2010 for subsequent events to be
included in its June 30, 2010 financial statements herein.
F-7
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS
The following discussion should be read in conjunction with our unaudited
financial statements and notes thereto included herein. In connection with, and
because we desire to take advantage of, the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995, we caution readers regarding
certain forward looking statements in the following discussion and elsewhere in
this report and in any other statement made by, or on our behalf, whether or not
in future filings with the Securities and Exchange Commission. Forward-looking
statements are statements not based on historical information and which relate
to future operations, strategies, financial results or other developments.
Forward looking statements are necessarily based upon estimates and assumptions
that are inherently subject to significant business, economic and competitive
uncertainties and contingencies, many of which are beyond our control and many
of which, with respect to future business decisions, are subject to change.
These uncertainties and contingencies can affect actual results and could cause
actual results to differ materially from those expressed in any forward looking
statements made by, or on our behalf. We disclaim any obligation to update
forward-looking statements.
The independent registered public accounting firm's report on the Company's
financial statements as of December 31, 2009, and for each of the years in the
two-year period then ended, includes a "going concern" explanatory paragraph,
that describes substantial doubt about the Company's ability to continue as a
going concern.
OPERATIONS
Business Overview
INTREorg Systems Inc. ("INTREorg" or "The Company") has developed a business
plan to become an integrated provider of outsourced information technology
("IT") services, Software as a Service (SaaS) applications, enterprise support,
and business process outsourcing services. INTREorg's target market is
publicly-traded, emerging growth companies in need of rapidly expanded IT
services. Primarily the Company intends to focus on publicly traded companies to
allow it to evaluate the financial position and business situation of
prospective clients due to the inherent transparency required with publicly
traded firms.
The primary focus of the Company is to provide outsourced, day-to-day IT
operations to emerging companies in need of state-of-the-art IT services, tools
and processes. INTREorg focuses on providing IT services and systems to
emerging, technologically sophisticated companies that have grown beyond their
ability to manage their network. Additionally, the Company intends to provide
infrastructure services and products to meet the specific demands of INTREorg
customers. All of the Company's services will be offered individually or bundled
as a comprehensive solution.
In the continuance of INTREorg's business operations it does not intend to
purchase or sell any significant assets and the Company does expect to have to
hire additional employees, if it is able to secure financing or sees an increase
in orders.
The Company is dependent on raising additional equity and/or, debt to fund any
negotiated settlements with its outstanding creditors and meet the Company's
ongoing operating expenses. There is no assurance that Intreorg will be able to
raise the necessary equity and/or debt that it will need to be able to negotiate
acceptable settlements with its outstanding creditors or fund its ongoing
operating expenses. Intreorg cannot make any assurances that it will be able to
raise funds through such activities.
In addition, the United States and the global business community has experienced
severe instability in the commercial and investment banking systems which is
likely to continue to have far-reaching effects on the economic activity in the
1
country for an indeterminable period. The long-term impact on the United States
economy and the Company's operating activities and ability to raise capital
cannot be predicted at this time, but may be substantial.
RESULTS OF OPERATIONS
For the Three Months Ended June 30, 2010 Compared to the Three Months Ended June
30, 2009
During the three months ended June 30, 2010 and 2009, we did not recognize any
revenues from our operations.
During the three months ended June 30, 2010, we incurred an operational loss of
$39,454 compared to $22,859 during the three months ended June 30, 2009. The
increase of $16,595 was a result of the increase a $12,038 increase in
professional fees and a $2,657 in general and administrative expenses.
During the three months ended June 30, 2010, we incurred a net loss of $56,545
compared to $39,207 during the three months ended June 30, 2009. The increase of
$17,338 is a direct result of the $16,595 increase in operational losses and the
$743 increase in interest expenses from the prior period.
For the Six Months Ended June 30, 2010 Compared to the Six Months Ended June 30,
2009
During the six months ended June 30, 2010 and 2009, we did not recognize any
revenues from our operations.
During the six months ended June 30, 2010, we incurred an operational loss of
$65,661 compared to $44,400 during the six months ended June 30, 2009. The
increase of $21,261 was a result of the increase a $26,006 increase in
professional fees a $3,120 in general and administrative expenses, a $300
increase in depreciation and a $866 increase in travel expense.
During the six months ended June 30, 2010, we incurred a net loss of $99,656
compared to $71,735 during the six months ended June 30, 2009. The increase of
$27,903 is a direct result of the $21,261 increase in operational losses and the
$6,666 increase in interest expenses from the prior period.
LIQUIDITY
At June 30, 2010, we had current assets of $1,719, consisting solely of a
prepaid expense. At June 30, 2010, we had total current liabilities of
$1,486,800, consisting of accounts payable of $268,848, $696,804 in accrued
expenses and liabilities and $521,000 in promissory notes and a $148 cash
overdraft. Our current liabilities exceed our current assets by $1,485,081 and
we will be reliant upon shareholder loans or private placements of equity to
fund any kind of operations. We have secured no sources of loans or private
placements at this time.
During the six months ended June 30, 2010, we neither used 107 in our
operational activities. During the six months ended June 30, 2010, we recognized
a net loss of $99,656, which was adjusted for a depreciation expense of $300.
During the six months ended June 30, 2009, we used funds of $2,954 in our
operational activities. During the six months ended June 30, 2009, we recognized
a net loss of $71,736, which was adjusted for depreciation expense of $9,031.
During the six months ended June 30, 2010 and 2009, we did not use or receive
any funds from investment activities.
2
During the six months ended June 30, 2010, we received funds from financing
activities of $94 due to a cash overdraft. During the six months ended June 30,
2009, we did not receive or use any funds from our financing activities.
Short Term.
On a short-term basis, we do not generate any revenue or revenues sufficient to
cover operations. Based on prior history, we will continue to have insufficient
revenue to satisfy current and recurring liabilities as it seeks explore. For
short term needs we will be dependent on receipt, if any, of offering proceeds.
Capital Resources
We have only common stock as our capital resource.
We have no material commitments for capital expenditures within the next year,
however if operations are commenced, substantial capital will be needed to pay
for participation, investigation, exploration, acquisition and working capital.
Need for Additional Financing
We do not have capital sufficient to meet our cash needs. We will have to seek
loans or equity placements to cover such cash needs.
No commitments to provide additional funds have been made by our management or
other stockholders. Accordingly, there can be no assurance that any additional
funds will be available to us to allow it to cover our expenses as they may be
incurred.
ITEM 3. QUANTATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.
Not Applicable
ITEM 4. CONTROLS AND PROCEDURES
Disclosures Controls and Procedures
We have adopted and maintain disclosure controls and procedures (as such term is
defined in Rules 13a 15(e) and 15d-15(e) under the Securities Exchange Act of
1934, as amended (the "Exchange Act")) that are designed to ensure that
information required to be disclosed in our reports under the Exchange Act, is
recorded, processed, summarized and reported within the time periods required
under the SEC's rules and forms and that the information is gathered and
communicated to our management, including our Chief Executive Officer (Principal
Executive Officer) and Chief Financial Officer (Principal Financial Officer), as
appropriate, to allow for timely decisions regarding required disclosure.
As required by SEC Rule 15d-15(b), our Chief Executive Officer carried out an
evaluation under the supervision and with the participation of our management,
of the effectiveness of the design and operation of our disclosure controls and
procedures pursuant to Exchange Act Rule 15d-14 as of the end of the period
covered by this report. Based on the foregoing evaluation, our Chief Executive
Officer has concluded that our disclosure controls and procedures are effective
in timely alerting them to material information required to be included in our
periodic SEC filings and to ensure that information required to be disclosed in
our periodic SEC filings is accumulated and communicated to our management,
including our Chief Executive Officer, to allow timely decisions regarding
required disclosure as a result of the deficiency in our internal control over
financial reporting discussed below.
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ITEM 4T. CONTROLS AND PROCEDURES
Management's Quarterly Report on Internal Control over Financial Reporting.
Our management is responsible for establishing and maintaining adequate internal
control over financial reporting for the company in accordance with as defined
in Rules 13a-15(f) and 15d-15(f) under the Exchange Act. Our internal control
over financial reporting is designed 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. Our internal control over financial reporting includes
those policies and procedures that:
(1) pertain to the maintenance of records that, in reasonable detail,
accurately and fairly reflect the transactions and dispositions of our
assets;
(2) provide reasonable assurance that transactions are recorded as
necessary to permit preparation of financial statements in accordance
with generally accepted accounting principles, and that our receipts
and expenditures are being made only in accordance with authorizations
of our management and directors; and
(3) provide reasonable assurance regarding prevention or timely detection
of unauthorized acquisition, use or disposition of our assets that
could have a material effect on our financial statements.
Management's assessment of the effectiveness of the registrant's internal
control over financial reporting is as of the quarter ended June 30, 2010. In
making this assessment, Management used the criteria set forth by the Committee
of Sponsoring Organizations of the Treadway Commission (COSO) in Internal
Control--Integrated Framework. Management believes that internal control over
financial reporting is effective. We believe that internal control over
financial reporting is effective. We have not identified any, current material
weaknesses considering the nature and extent of our current operations and any
risks or errors in financial reporting under current operations.
Because of its inherent limitations, internal control over financial reporting
may not prevent or detect misstatements. Also, projections of any evaluation of
effectiveness to future periods are subject to the risk that controls may become
inadequate because of changes in conditions, or that the degree of compliance
with the policies or procedures may deteriorate.
This annual report does not include an attestation report of the Company's
registered public 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 that permit the Company to provide only management's
report in this annual report.
There was no change in our internal control over financial reporting that
occurred during the fiscal quarter ended June 30, 2010, that has materially
affected, or is reasonably likely to materially affect, our internal control
over financial reporting.
PART II. OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
NONE.
ITEM 1A. RISK FACTORS
NONE.
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ITEM 2. CHANGES IN SECURITIES
NONE.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
NONE.
ITEM 4. REMOVED AND RESERVED
ITEM 5. OTHER INFORMATION
NONE.
ITEM 6. EXHIBITS
Exhibits. The following is a complete list of exhibits filed as part of this
Form 10-Q. Exhibit numbers correspond to the numbers in the Exhibit Table of
Item 601 of Regulation S-K.
Exhibit 31.1 Certification of Chief Executive Officer pursuant to Section
302 of the Sarbanes-Oxley Act
Exhibit 32.1 Certification of Principal Executive Officer pursuant to
Section 906 of the Sarbanes-Oxley Act
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SIGNATURES
Pursuant to the requirements of Section 12 of the Securities and Exchange
Act of 1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.
INTREORG SYSTEMS, INC.
(Registrant)
Dated: August 16, 2010 By: /s/ Russell K. Boyd
----------------------
Russell K. Boyd
(Principal Executive Officer, Chief
Executive Officer and Principal
Accounting Officer)
6