Report on Form 10-QSB For the Six Months Ended December 31, 2007 INDEX Page ---- Part I. Financial Information Item 1. Financial Statements (unaudited)........................3 Balance Sheets .........................................4 Statements of Operations ...............................5 Statements of Cash Flows..............................6-7 Notes to the Financial Statements ...................8-12 Item 2. Management's Discussion and Analysis .................13 or Plan of Operation Item 3. Controls and Procedures ...............................15 Part II. Other Information Item 1. Legal Proceedings .....................................15 Item 2. Changes in Securities .................................15 Item 3. Defaults Upon Senior Securities .......................15 Item 4. Submission of Matters to a Vote of Security Holders ...15 Item 5. Other Information .....................................15 Item 6. Exhibits and Reports on Form 8-K ......................15 Signatures.............................................16 2 PART I - FINANCIAL INFORMATION Item 1. Financial Statements. The accompanying balance sheets of Komodo, Inc. at December 31, 2007 and March 31, 2007, and the related statements of operations, stockholders' equity (deficit) and cash flows for the three months and nine months ending December 31, 2007 and 2006, have been prepared by our management in conformity with accounting principles generally accepted in the United States. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature. Operating results for the quarter ended December 31, 2007, are not necessarily indicative of the results that can be expected for the fiscal year ending March 31, 2008. KOMODO, INC. (A Development Stage Company) FINANCIAL STATEMENTS December 31, 2007 and March 31, 2007 3 KOMODO, INC. (A Development Stage Company) Balance Sheets ASSETS ------ December 31, March 31, 2007 2007 ------------- ------------- (Unaudited) CURRENT ASSETS Cash $ 608 $ 687 ------------- ------------ Total Current Assets - 687 ------------- ------------ FIXED ASSETS, NET 98,433 136,943 ------------- ------------ TOTAL ASSETS $ 99,041 $ 137,630 ============= ============ LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) ---------------------------------------------- CURRENT LIABILITIES Accounts payable and accrued liabilities $ 310,019 $ 189,823 Stock subscription payable 4,991 - Related party payable 74,952 55,242 ------------- ------------ Total Current Liabilities 389,962 245,065 ------------- ------------ COMMITMENTS AND CONTINGENCIES - - STOCKHOLDERS' EQUITY (DEFICIT) Preferred stock: 10,000,000 shares authorized of $0.001 par value, 2,000,000 shares issued and outstanding 2,000 2,000 Common stock: 100,000,000 shares authorized of $0.001 par value, 25,926,247 shares issued and outstanding 25,926 25,926 Additional paid-in capital 17,982,182 17,982,182 Deficit accumulated during the development stage (18,301,029) (18,117,543) ------------- ------------ Total Stockholders' Equity (Deficit) (290,921) (107,435) ------------- ------------ TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 99,041 $ 137,630 ============= ============ The accompanying condensed notes are an integral part of these interim financial statements. 4 KOMODO, INC. (A Development Stage Company) Statements of Operations (Unaudited) <TABLE> <S> <C> <C> <C> <C> <C> From Inception on November 10, For the Three Months Ended For the Nine Months Ended 1995 Through December 31, December 31, December 31, ------------------------- ------------------------- ------------ 2007 2006 2007 2006 2007 ------------ ------------ ------------ ------------ ------------ REVENUES $ - $ - $ - $ 9,441 $ 10,724 ----------- ----------- ----------- ----------- ----------- EXPENSES Impairment of asset - - - - 50 Research and development - 53,071 - 270,923 647,390 Depreciation and amortization 12,836 12,653 38,510 37,927 328,833 Management fees-related parties - 120,000 120,000 360,000 1,417,500 General and administrative 9,565 5,506 24,976 435,607 5,208,462 ----------- ----------- ----------- ----------- ----------- Total Expenses 22,401 191,230 183,486 1,104,457 7,602,235 ----------- ----------- ----------- ----------- ----------- LOSS FROM OPERATIONS (22,401) (191,230) (183,486) (1,095,016) (7,591,511) ----------- ----------- ----------- ----------- ----------- OTHER (EXPENSES) Interest expense - - - - (5,464) ----------- ----------- ----------- ----------- ----------- Total Other (Expense) - - - - (5,464) ----------- ----------- ----------- ----------- ----------- LOSS BEFORE DISCONTINUED OPERATIONS (22,401) (191,230) (183,486) (1,095,016) (7,596,975) ----------- ----------- ----------- ----------- ----------- LOSS FROM DISCONTINUED OPERATIONS NET OF ZERO TAX EFFECT - - - - (10,704,054) ----------- ----------- ----------- ----------- ------------ NET LOSS $ (22,401) $ (191,230) $ (183,486) $(1,095,016) $(18,301,029) =========== =========== =========== =========== ============= BASIC LOSS PER SHARE OF COMMON STOCK $ (0.00) $ (0.01) $ (0.01) $ (0.07) =========== =========== =========== =========== WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING 25,926,247 22,029,911 25,926,247 17,507,897 =========== =========== =========== =========== </TABLE> The accompanying condensed notes are an integral part of these interim financial statements. 5 KOMODO, INC. (A Development Stage Company) Statements of Cash Flows (Unaudited) <TABLE> <S> <C> <C> <C> From Inception on For the Nine Months Ended November 10, December 31, 1995 Through --------------------------- December 31, 2007 2006 2007 ------------- ------------- ------------- CASH FLOWS FROM OPERATING ACTIVITIES Net loss $ (183,486) $ (1,095,016) $(18,301,029) Adjustments to reconcile net loss to net cash used by operating activities: Depreciation and amortization expense 38,510 37,927 352,316 Common stock issued for services - 245,975 4,157,778 Common stock issued for payment of accounts payable - - 600,037 Bad debt expense - - 224,941 Write-off mineral property - - 3,914,434 Write-off of stock subscription receivable - - 250 Services rendered for deferred compensation - - 339,750 Services performed to reduce stock subscription receivable - - 742,261 Warrants and options issued for services - - 1,322,050 Currency translation adjustment - - (168,626) Impairment of asset - - 50 Forgiveness of debt by shareholder - - 90,705 Changes in operating assets and liabilities: (Increase) decrease in accounts receivable and accounts receivable-related parties - - (213,312) (Increase) decrease in deposits and prepaid expenses - 9,160 (85,365) Increase in accounts payable and payable-related parties 19,710 424,462 366,454 Increase in accounts payable and accrued liabilities 120,196 23,624 132,941 Increase in stock subscription payable 4,991 - 4,991 Increase (Decrease) in liabilities of discontinued operations - - 64,042 ------------ ------------ ------------ Net Cash Used by Operating Activities (79) (353,868) (6,455,332) ------------ ------------ ------------ CASH FLOWS FROM INVESTING ACTIVITIES Purchase of fixed assets - (1,149) (405,742) Purchase of mineral property and deferred exploration costs - - (2,762,539) ------------ ------------ ------------ Net Cash Used by Investing Activities - (1,149) (3,168,281) ------------ ------------ ------------ </TABLE> The accompanying condensed notes are an integral part of these interim financial statements. 6 KOMODO, INC. (A Development Stage Company) Statements of Cash Flows (Continued) (Unaudited) <TABLE> <S> <C> <C> <C> From Inception on For the Nine Months Ended November 10, December 31, 1995 Through --------------------------- December 31, 2007 2006 2007 ------------- ------------- ------------- CASH FLOWS FROM FINANCING ACTIVITIES Stock offering costs - (16,000) (248,249) Cash received on stock subscription - 360,130 536,010 Proceeds from common stock - 10,000 7,856,174 Proceeds on notes payable - related party - - 1,472,420 ------------ ------------ ------------ Net Cash Provided by Financing Activities - 354,130 9,624,221 ------------ ------------ ------------ NET INCREASE IN CASH (79) (887) 608 CASH AT BEGINNING OF PERIOD 687 1,096 - ------------ ------------ ------------ CASH AT END OF PERIOD $ 608 $ 209 $608 ============ ============ ============ CASH PAID FOR: Interest $ - $ - $ 114 Income taxes $ - $ - $ - NON-CASH FINANCING ACTIVITIES Common stock issued for acquisition of asset $ - $ - $ 394,062 Common stock issued for debt conversion $ - $ 591,238 $ 1,210,718 Common stock issued for mineral properties $ - $ - $ 550,000 Common stock issued for services $ - $ 245,975 $ 4,133,498 Common stock issued for license $ - $ - $ 125,000 Common stock issued for subscription $ - $ - $ 387,750 Common stock issued for payment of accounts payable $ - $ - $ 600,037 Services performed by related parties for the reduction in stock subscription receivable $ - $ - $ 742,261 </TABLE> The accompanying condensed notes are an integral part of these interim financial statements. 7 KOMODO, INC. (A Development Stage Company) Condensed Notes to the Financial Statements December 31, 2007 and March 31, 2007 NOTE 1 - BASIS OF FINANCIAL STATEMENT PRESENTATION The accompanying unaudited condensed financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted in accordance with such rules and regulations. The information furnished in the interim condensed financial statements include normal recurring adjustments and reflects all adjustments, which, in the opinion of management, are necessary for a fair presentation of such financial statements. Although management believes the disclosures and information presented are adequate to make the information not misleading, it is suggested that these interim condensed financial statements be read in conjunction with the Company's most recent audited financial statements and notes thereto included in its March 31, 2007 Annual Report on Form 10-KSB. Operating results for the three and six months ended December 31, 2007 are not necessarily indicative of the results that may be expected for the year ending March 31, 2008. NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 revenues and expenses during the reporting period. Actual results could differ from those estimates. NOTE 3 - GOING CONCERN The Company's financial statements are prepared using United States generally accepted accounting principles applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. However, the Company has not established a reliable source of revenues sufficient to meet the operational cash flow needs of the Company. The Company failed in the launch of its products and is now seeking another business opportunity. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plan described in the preceding paragraph and eventually attain profitable operations. The accompanying financial statements do not include any adjustments that may be necessary if the Company is unable to continue as a going concern. 8 KOMODO, INC. (A Development Stage Company) Condensed Notes to the Financial Statements December 31, 2007 and March 31, 2007 NOTE 4 - RELATED PARTY TRANSACTIONS As of December 31, 2007, the Company owed related parties $74,952 for amounts advanced to the Company to cover operating expenses and for accrued salaries. NOTE 5 - COMMON STOCK OPTIONS AND WARRANTS OPTIONS ------- On September 27, 2002, the Company established the 2002 Stock Option Plan (the plan) to promote the interests of the Company. The board of directors of the Company has sole and complete authority to determine the employees to whom options shall be granted, the number of options in each grant and any additional conditions and limitations. The total number of shares of common stock subject to outstanding options shall be 1,000,000 shares. The exercise price at the date of grant shall not be less than the fair market value of the underlying shares. On August 8, 2003, the Company established the 2003 Stock Option Plan (the plan) to promote the interests of the Company. The board of directors of the Company has sole and complete authority to determine the employees and/or consultants to whom options shall be granted, the number of options in each grant and any additional conditions and limitations. The total number of shares of common stock subject to outstanding options shall be 1,150,000 shares. The exercise price at the date of grant shall not be less than the fair market value of the underlying shares. On February 12, 2004, the Company established the 2004 stock option plan (the plan) to promote the interests of the Company. The board of directors of the Company has sole and complete authority to determine the employees and/or consultants to who options shall be granted, the number of options in each grant and any additional conditions and limitations. The total number of shares of common stock subject to outstanding options shall be 1,000,000 shares. The exercise price at the date of grant shall not be less than the fair market value of the underlying shares. On December 1, 2004, in connection with the private placement of its common stock, the Company granted warrants to purchase 500,000 shares of its common stock at $1.50 per share, warrants to purchase 500,000 shares of its common stock at $3.00 per share and warrants to purchase 500,000 shares of its common stock at $5.00 per share. On November 11, 2005, the Company established the 2005 Stock Option Plan (the plan) to promote the interests of the Company. The board of directors of the Company has sole and complete authority to determine the employees and/or consultants to whom options shall be granted, the number of options in each grant and any additional conditions and limitations. The total number of shares of common stock subject to 9 KOMODO, INC. (A Development Stage Company) Condensed Notes to the Financial Statements December 31, 2007 and March 31, 2007 NOTE 5 - OPTIONS AND WARRANTS (Continued) OPTIONS (Continued) ------------------- outstanding options shall be 2,200,000 shares. The exercise price is $0.72 per share. On the same date the 2,200,000 options were granted to various consultants. The grantees were vested for 25% of the options with additional vesting to be determined by the board of directors. The Company recognized an expense of $310,214 for the value of warrants vested using the Black-Scholes formula and assumes a 10 year maturity, a risk free interest rate of 2.81% and a volatility of 73%. On December 9, 2005, the Company established the 2006 Stock Option Plan (the plan) to promote the interests of the Company. The board of directors of the Company has sole and complete authority to determine the employees and/or consultants to whom options shall be granted, the number of options in each grant and any additional conditions and limitations. The total number of shares of common stock subject to outstanding options shall be 2,200,000 shares. On December 9, 2005, the Company established the 2005 stock option plan to promote the interests of the Company. The Board of Directors of the Company has sole and complete authority to determine the employees and/or consultants to who options shall be granted, the number of each grant and any additional conditions and limitations. The total number of shares of common stock subject to outstanding options shall be 2,200,000 shares. The exercise price is $1.00 per share. On the same date 2,200,000 options were granted to various consultants. The grantees vested for 25% of the options with additional vesting to be determined by the board of directors. The Company recognized an expense of $406,205 for the value of the options vested using the Black-Scholes formula and assumes a 10 year maturity, a risk free interest rate of 2.81% and a volatility of 73%. A summary of the status of the Company's outstanding stock options as of December 31, 2007 (FY2008) and March 31, 2007 (FY2007) and changes during the six months ended December 31, 2007 and the year ended March 31, 2007 is presented below: 10 KOMODO, INC. (A Development Stage Company) Condensed Notes to the Financial Statements December 31, 2007 and March 31, 2007 NOTE 5 - OPTIONS AND WARRANTS (Continued) OPTIONS (Continued) ------------------- 2008 2007 ----------------- ------------------ Weighted Weighted Shares Average Shares Average under Exercise under Exercise Options Price Options Price --------- -------- --------- -------- Outstanding, beginning of year 7,550,000 $ 0.65 7,550,000 $ 0.65 Granted - - - - Expired/Cancelled - - - - Exercised - - - - --------- -------- --------- -------- Outstanding, end of year 7,550,000 $ 0.65 7,550,000 $ 0.65 ========= ======== ========= ======== Exercisable 3,175,000 $ 0.51 3,175,000 $ 0.51 ========= ======== ========= ======== Fair Value of Options Granted $ 716,419 ========== <TABLE> <S><C> <C> <C> <C> <C> <C> Outstanding Exercisable ----------------------------------------------------- ----------------------------- Weighted Number Average Weighted Number Weighted Outstanding Remaining Average Exercisable Average Range of at Sept 30,/March 31, Contractual Exercise at Sept 30,/March 31,Exercise Exercise Prices 2007/2007 Life Price 2007/2007 Price --------------- ------------- ------------- -------- ------------- --------- $0.21 - 0.14 7,550,000 7.08 $ 0.65 3,175,000 $ 0.51 ------------ --------- ---- ------- --------- ------ $0.21 - 0.14 7,550,000 8.08 $ 0.65 3,175,000 $ 0.51 ============ ========= ==== ======= ========= ====== </TABLE> 11 KOMODO, INC. (A Development Stage Company) Condensed Notes to the Financial Statements December 31, 2007 and March 31, 2007 NOTE 5 - OPTIONS AND WARRANTS (Continued) WARRANTS -------- A summary of the status of the Company's outstanding warrants as of December 31, 2007 (FY2008) and March 31, 2007 (FY2007) and changes during the six months ended December 31, 2007 and the year ended March 31, 2007 is presented below: 2008 2007 ------------------ ------------------ Weighted Weighted Shares Average Shares Average under Exercise under Exercise Warrants Price Warrants Price --------- -------- --------- -------- Outstanding, beginning of year 7,805,000 $ 1.22 7,805,000 $ 1.22 Granted - - - - Expired/Cancelled - - - - Exercised - - - - --------- -------- --------- -------- Outstanding end of year 7,805,000 $ 1.22 7,805,000 $ 1.22 ========= ======== ========= ======== Exercisable 7,805,000 $ 1.22 7,805,000 $ 1.22 ========= ======= ========= ======== <TABLE> <S><C> <C> <C> <C> <C> <C> Outstanding Exercisable ------------------------------------- ---------------------------- Weighted Number Average Weighted Number Weighted Outstanding Remaining Average Exercisable Average Range of at Sept 30/March 31, Contractual Exercise at Sept 30,/March 31, Exercise Exercise Prices 2007/2007 Life Price 2007/2007 Price --------------- ------------- ------------ ---------- ------------------- -------- $ 0.70-5.00 7,805,000 6.89 $0.70-5.00 7,805,000 $ 1.22 --------------- ------------- ------------ ---------- ------------------ -------- $ 0.70-5.00 7,805,000 7.89 $0.70-5.00 7,805,000 $ 1.22 =============== ============= ============ ========== ================== ======== </TABLE> In December 2005, the Company issued 305,000 warrants in connection with the private placement of its common stock. Accordingly, a compensation expense $92,300 was recorded as per the Black-Scholes calculation and assumes a 10 year maturity, a risk free interest rate of 2.81% and a volatility of 73%. 12 PART I - FINANCIAL INFORMATION Item 1. Financial Statements. The accompanying balance sheets of Komodo, Inc. at December 31, 2007 and March 31, 2007, related statements of operations and cash flows for the nine months ended December 31, 2007 and 2006, have been prepared by our management in conformity with accounting principles generally accepted in the United States of America. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature. Operating results for the quarter ended December 31, 2007, are not necessarily indicative of the results that can be expected for the fiscal year ending March 31, 2008. Item 2. Management's Discussion and Analysis of Financial Condition or Plan of Operations The following information should be read in conjunction with the financial statements and notes thereto appearing elsewhere in this Form 10-QSB. Forward-looking and Cautionary Statements This report contains certain forward-looking statements. These statements relate to future events or our future financial performance and involve known and unknown risks and uncertainties. These factors may cause our company's, or our industry's actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "will" "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Business Overview ---------------- The current activities conducted by the Company are to manage its limited assets and to seek out and secure a financing or investigate the acquisition of any viable business opportunity by purchase and exchange for securities of the Company or pursuant to a reorganization or merger through which securities of the Company will be issued or exchanged. Other than seeking and investigating potential capital raising activities the Company has had no material business operations for the past five months. The Company has limited assets and conducts no material business, management anticipates that both a financing or an acquisition would require it to issue shares of its common stock. This would result in substantial dilution of the shares of current stockholders. The Company's Board of Directors shall make the final determination whether to complete any acquisition; the approval of stockholders will not be sought unless required by applicable laws, rules and regulations, its Articles of Incorporation or Bylaws, or contract. The Company makes no assurance that any future enterprise will be profitable or successful. 13 We expect that we need approximately $250,000 over the next 12 month period to continue operations. In the past 2 years we have raised approximately $610,000. This funding was completed in the form of private placement funding from the sale of shares of the Company's common stock. Without adequate funding the product will not progress. Obtaining financing depends on current market conditions, the willingness of the investment community to make investments into software development, the timing of key developments of the software and other similar factors. We cannot provide any assurances that we will be able to secure the funding. Results of Operations Our net loss for the three months ended December 31, 2007 was $22,401, as compared to $191,230 for the same period in 2006. The net loss for 2007 translates into a loss of $0.00 per share compared to a loss of $0.01 per share for the same period in 2006. The decrease in the net loss is partially attributable to a decrease in management fees incurred of $-0- compared to $120,000 in 2006. The balance of our operating expenses were made up primarily of depreciation expense of approximately $12,836 compared to $12,653 in the prior year. Our net loss for the nine months ended December 31, 2007 was $183,486, as compared to $1,095,016 for the same period in 2006. The net loss for 2007 translates into a loss of $0.01 per share compared to a loss of $0.07 per share for the same period in 2006. The decrease in the net loss is partially attributable to a decrease in management fees incurred of $120,000 compared to $360,000 in 2006 and stock issued for services of $-0- and $245,975 in 2006. The balance of our operating expenses were made up primarily of depreciation expense of approximately $38,510 compared to $37,927 in the prior year. We recorded no revenues during the quarter ended December 31, 2007. We do not expect to have revenues through out the remainder of fiscal 2007 and we do not anticipate becoming cash flow positive in fiscal 2008. Liquidity and Capital Resources We had $608 of cash on hand at December 31, 2007 compared to $687 at March 31, 2007. We used $79 of cash for operations during the nine months ended December 31, 2007 compared to approximately $353,868 for the same period of FYE 2007. The decrease was primarily due to the deferral of management compensation by our management team of $120,000 in 2006. We estimate that we will need approximately $250,000 of additional funds over the next twelve months. We estimate that existing sources of liquidity and the funds provided by anticipated capital activity will not satisfy our projected working capital requirements through fiscal 2008. Our ability to maintain sufficient liquidity through fiscal 2008 is dependent on our raising additional capital and such capital may not be available on acceptable terms, if at all. Additional financing may result in substantial and immediate dilution to existing stockholders. If adequate funds are not available to satisfy either short or long-term capital requirements, we may be required to curtail operations significantly or to seek funds through arrangements with strategic partners, existing investors or other parties. 14 Item 3. Controls and Procedures 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 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 II - OTHER INFORMATION. Item 1. Legal Proceedings. We are not aware of any pending claims or assessments, that may have a material adverse impact on Komodo's financial position or results of operations. Item 2. Changes in Securities. The following unregistered securities have been issued since March 31st, 2007: Valued Date No. of Shares Title At Reason 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 and Reports on Form 8-K. (a) Exhibits (a) Exhibits Exhibit 31.1 Certification of C.E.O. and Principal Accounting Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 15 Exhibit 32.1 Certification of C.E.O. and Principal Accounting Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (b) Report on Form 8-K None SIGNATURES In accordance with the requirements of the Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. KOMODO, INC. Date: March 4, 2008 / s / Gordon Muir ----------------------------- President / Director Principal Accounting Officer 16 </TEXT> </DOCUMENT>