Item 1. Consolidated Financial Statements (unaudited):

 

 

Consolidated Balance Sheets as of April 30, 2008 and October 31, 2007

5

 

 

Consolidated Statements of Operations for the three and six months ended April 30, 2008

and 2007, and the period May 10, 2002 (date of inception) to January 31, 2008

6

 

 

Consolidated Statements of Cash Flows for the three months ended April 30, 2008

and 2007, and the period May 10, 2002 (date of inception) to January 31, 2008

7

 

 

Statement of Changes in Stockholders Equity

8

 

 

Notes to Consolidated Financial Statements

9 - 13

 

 

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

and Results of Operations

14 - 15

 

 

Item 3. Controls and Procedures

16

 

 

PART II. OTHER INFORMATION

 

 

 

Item 1. Legal Proceedings.

17

 

 

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

18

 

 

Item 3. Defaults Upon Senior Securities

 18 

 

 

Item 4. Submission of Matters to a Vote of Securities Holders

18

 

 

Item 5. Other Information

18

  

 

Item 6. Exhibits  

19-21

 

 


 





2




PART I

FORWARD-LOOKING STATEMENTS

 

Certain statements contained in this filing are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future business development activities, and are thus prospective. These statements appear in a number of places in this Form 10-QSB and include all statements that are not statements of historical fact regarding intent, belief or our current expectations, with respect to, among other things: (i) our financing plans; (ii) trends affecting our financial condition or results of operations; (iii) our growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "could," "will," "expect," "estimate," "anticipate," "believe," "intend," "plans," and similar expressions and variations thereof are intended to identify forward-looking statements.

 

 

Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond our ability to control. Actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Among the key risks, assumptions and factors that may affect operating results, performance and financial condition are changes in technology, fluctuations in our quarterly results, ability to continue and manage our growth, liquidity and other capital resources issues, competition and the other factors discussed in detail in our filings with the Securities and Exchange Commission.

 

 



3





FINANCIAL STATEMENTS  

Madsen & Associates, CPA’s Inc.

Certified Public Accountants and Business Consultants

684 East Vine Street #3

Murray, Utah 84107

Tel no:- 801-268-2632

Fax no: - 801-262-3978


REPORT ON REVIEW BY INDEPENDENT

CERTIFIED PUBLIC ACCOUTANT


The Board of Directors

Meier Worldwide Intermedia, Inc.


We have reviewed the balance sheet of the above company as of April 31,2008 and the related statements of operations and cash flows for the periods then ended. These financial statements are the responsibility of the company’s management.


We conducted the review in accordance with standards established by the American Institute of Certified Public Accountants. A review of the interim financial information consists principally of applying procedures to financial data and making inquiries of the persons responsible for the financial and accounting matters. It is substantially less in scope than an audit conducted in accordance with generally accepted accounting standards, the objective of which is the expression of an opinion regarding the financial statements as a whole. Accordingly we do not express an opinion.


Based on our review, we are not aware of any material modifications that should be made to the accompanying financial statements for them to be in conformity with accounting principles generally accepted in the United States of America.



__________________________

Madsen & Associates CPA’s Inc.


Salt Lake City, Utah

June 13, 2008

  




4




FINANCIAL STATEMENTS 


  The accompanying balance sheet of QuadTech International, Inc. and Subsidiary at April 30, 2008 and statement of operations for the three and six months ended April 30, 2008 and 2007, and the cash flows for the three months ended April 30, 2008 and 2007 have been prepared by the Company’s management and they include all the information and notes to the financial statements necessary for a complete presentation of the financial position, results of operations and cash flows 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 results of operations and financial position have been included and all such adjustments are of a normal recurring nature.


Operating results for the six months ended April 30, 2008 are not necessarily indicative of the results that can be expected for the year ending October 31, 2008.

  

June 13, 2008

 



5



QUADTECH INTERNATIONAL INC. AND SUBSIDIARY

 ( DEVELOPMENT STAGE COMPANY)

UNAUDITED

 



QUADTECH INTERNATIONAL INC. AND SUBSIDIARY

 

 

 

( DEVELOPMENT STAGE COMPANY)

 

 

 

 

UNAUDITED

 

 

 

 

 

 

 

CONSOLIDATED BALANCE SHEET

 

 

 

 

as at:

 

 

 

 

30 April 2008

 

31 October 2007

 

 

 

 

 

 

 

 

ASSETS

 

 

 

 

 

 

 

CURRENT ASSETS

 

 

 

 

 

 

     Cash                                                     

 

 

 $               -   

 

 $                    6

 

 

 

 

 

 

 

 

     Total  Current  Assets                                          

 

 $                      -   

 

 $                    6

 

 

 

 

 

 

 

 

EQUIPMENT         

 

 

 

 $                       0

 

 $                    0

 - net of accumulated depreciation   

 

 

 

 

 

OTHER  ASSETS

 

 

 

 

 

 

    Available-for-sale  securities                                  

 

 $                   210

 

      390

 

 

 

 

 

 $                  210

 

 $              396

 

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS' DEFICIENCY

 

 

 

CURRENT LIABILITIES

 

 

 

 

 

 

     Bank Overdraft

 

 

 

 

 $                     12

 

 $                  -   

     Note  payable                                           

 

 $              32,431

 

 $           32,431

     Accrued  interest  payable                                

 

 $              19,994

 

 $           17,924

     Accounts  payable                                             

 

 $              89,156

 

 $           83,586

     Accrued  rent  payable                                       

 

 $              41,451

 

 $           41,435

     Accounts  payable  -  related  parties                        

 $            382,449

 

 $         382,137

     Total  Current  Liabilities                                    

 

 $            565,494

 

 $         557,513

 

 

 

 

 

 

 

 

STOCKHOLDERS'  DEFICIENCY

 

 

 

 

 

     Common  stock

 

 

 

 

 

 

        200,000,000 shares authorized, at $0.001 par value;

 

 

 

28,929,565

 shares  issued  and  outstanding   

 

 $              28,929

 

 $           28,929

     Capital  in  excess  of  par  value                          

 

 $         3,650,475

 

 $      3,650,475

     Deficit  accumulated  during  development  stage           

 $        (4,244,688)

 

 $    (4,236,521)

          Total  Stockholders'  Deficiency                      

 

 $           (565,284)

 

 $       (557,117)

 

 

 

 

 

 $                  210

 

 $              396



The accompanying notes are an integral part of these financial statements

 

 



6




QUADTECH INTERNATIONAL INC. AND SUBSIDIARY

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(DEVELOPMENT STAGE COMPANY)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CONSOLIDATED STATEMENTS OF OPERATIONS

 

 

 

 

FOR THE THREE AND SIX MONTHS APRIL 30, 2008 AND 2007 AND THE PERIOD

 

 

MAY 10, 2002 (DATE OF INCEPTION OF SUBSIDIARY) TO APRIL 30, 2008

 

 

 

 

UNAUDITED

 

 

 

 

 

 

 

 

 

 

 

 

 


                                                                  

 

Three Months

 

Six Months

 

10-May-02

 

 

 

 

 

 

30 Apr

 

30 Apr

 

30 Apr

 

30 Apr

 

to 30 Apr

 

 

 

 

 

 

2008

 

2007

 

2008

 

2007

 

2008

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

REVENUES                            

 

 

 

 $         -   

 

 $             -   

 

 $             -   

 

 $               -   

 

 $           80,756

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EXPENSES

 

 

 

 

 

 

 

 

 

 

 

 

 

   Professional and consulting          

 

 $         -   

 

 $             -   

 

 $             -   

 

 $               -   

 

 $      4,132,782

   Administrative /(Written Back)                     

 

 $   2,596

 

 $      18,127

 

 $       6,286

 

 $        28,082

 

 $         151,849

   Depreciation                        

 

 

 

 

 

 $             -   

 

 $             -   

 

 $               -   

 

 $           19,253

 

 

 

 

 

 

 $   2,596

 

 $      18,127

 

 $       6,286

 

 $        28,082

 

 $      4,303,884

NET  (LOSS)  FROM OPERATIONS                        

 $ (2,596)

 

 $    (18,127)

 

 $     (6,286)

 

 $      (28,082)

 

 $   (4,223,128)

OTHER

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest

 

 

 

 

 

 $    (593)

 

 $      (1,005)

 

 $     (1,671)

 

 $        (1,992)

 

 $        (11,740)

(Loss) on Investment- Unrealized

 

 

 

 $    (210)

 

 $           (30)

 

 $        (210)

 

 $             (30)

 

 $          (9,820)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NET  LOSS                         

 

 

 

 $ (3,399)

 

 $    (19,161)

 

 $     (8,167)

 

 $      (30,103)

 

 $   (4,244,688)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NET LOSS PER COMMON SHARE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

       Basic  and  diluted   

 

 

 

 

 

 

 

        (0.000)

 

             (0.00)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

AVERAGE  OUTSTANDING   SHARES

(stated  in  1,000's) 

 

 

 

 

 

 

      Basic                             

 

 

 

 

 

 

 

        28,930

 

           28,930

 

 



7



QUADTECH INTERNATIONAL INC. AND SUBSIDIARY

 (DEVELOPMENT STAGE COMPANY)


CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE THREE AMD SIX MONTHS ENDED APRIL 30, 2008 AND 2007 AND THE PERIOD

MAY 10, 2002 (DATE OF INCEPTION OF SUBSIDIARY) TO APRIL 30, 2008

UNAUDITED


 

 

 

 

 

 

 

 

 

 

10-May-02

 

 

 

 

 

 

30 Apr

 

30 Apr

 

to 30 Apr

 

 

 

 

 

 

2008

 

2007

 

2008

CASH FLOWS FROM

 

 

 

 

 

 

 

 

 

     OPERATING ACTIVITIES

 

 

 

 

 

 

 

 

Net  loss    

 

 

 

 

 

 $      (8,167)

 

 $       (30,104)

 

 $    (4,244,688)

   Adjustments to reconcile net

 

 

 

 

 

 

 

 

   loss to net cash provided by

 

 

 

 

 

 

 

 

   operating activities

 

 

 

 

 $            -   

 

 $               -   

 

 

Depreciation                        

 

 

 

 $            -   

 

 $               -   

 

 $         19,253

Unrealized (Profit)/Loss in Investment

 

 

 

 $          210

 

 $              30

 

 $           9,820

Stock issued for services and

 

 

 

 $            -   

 

 $               -   

 

 $                -   

 capital expenses                         

 

 

 

 $            -   

 

 $               -   

 

 $     3,585,232

Changes in accounts receivables        

 

 

 $            -   

 

 $               -   

 

 $                -   

Changes in accounts payable           

 

 

 

 $       7,645

 

 $        20,015

 

 $       173,809

    Net Cash Provided (Used) in

 

 

 

 

 

 

 

 

           Operations         

 

 

 

 

 $         (312)

 

 $       (10,059)

 

 $      (456,574)

 

 

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM INVESTING

 

 

 

 

 

 

 

 

ACTIVITIES

 

 

 

 

 

 

 

 

 

     Purchase office equipment    

 

 

 

 $            -   

 

 $               -   

 

 $        (19,253)

Purchase  available-for-sale

 

 

 

 

 

 

 

 

     securities                   

 

 

 

 

 $            -   

 

 $               -   

 

 $        (10,000)

 

 

 

 

 

 

 $            -   

 

 $               -   

 

 $        (29,253)

 

 

 

 

 

 

 

 

 

 

 

CASH  FLOWS  FROM  FINANCING

 

 

 

 

 

 

 

     ACTIVITIES

 

 

 

 

 

 

 

 

 

Proceeds  from  issuance  of  common

 

 

 

 

 

 

 

Common stock and stock

 

 

 

 

 

 

 

 

 

Subscriptions received              

 

 

 

 $            -   

 

 $               -   

 

 $       100,500

Advances from related parties

 

 

 

 $          313

 

 $        10,066

 

 $       382,137

Net  Increase  (Decrease)  in  Cash

 

 

 

 $           (19)

 

 $                7

 

 $          (3,190)

Cash  at  Beginning  of  Period     

 

 

 

 $             6

 

 $              30

 

 $                -   

Cash  at  End  of  Period          

 

 

 

 $           (12)

 

 $              37

 

 $          (3,190)


NON CASH FLOWS FROM OPERATIONS

 

Issuance of 580,000 shares common capital stock for

Services - founders stock  -  2002                              

 

 $           1,000

Contributions  to  capital  -  expenses  -  2002                   

 

 $           4,800

Issuance  of 61,774 shares common capital stock -

 

 

Acquisition of Covenant - 2003                               

 

 $      (137,456)

Issuance  of 657,500 shares common capital stock for

 

 

Services and expenses                                           

 

 $       720,050

Issuance  of  46,000  shares  common  capital  stock

 

 

For services - 2004                                              

 

 $       230,000

Issuance  of  45,000  shares  common  capital  stock

 

 

For services - 2005                                              

 

 $       225,000

Issuance  of

   7,730,303

shares  common  capital  stock

 

 

For services - 2006                                              

 

 $     2,340,182

The accompanying notes are an integral part of these financial statements. 



8



QUADTECH INTERNATIONAL INC. AND SUBSIDIARY

 (DEVELOPMENT STAGE COMPANY)

 

STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY

PERIOD MAY 10, 2002 (DATE OF INCEPTION OF SUBSIDIARY) TO APRIL 30, 2008

UNAUDITED


 

 

 

 

CAPITAL IN

                                

 

 

COMMON  STOCK          

 

EXCESS  OF

 

 ACCUMULATED

                              

 

 

SHARES     AMOUNT   

 

PAR  VALUE        

 

DEFICIT

BALANCE MAY 10, 2002           

 

                    -   

 $           -   

 

 $                      -   

 

 $                    -   

Issuance of common stock

 

 

 

 

 

 

 

to founders for services

 

 

580,000

 $         580

 

 $                   420

 

 $                    -   

 

 

 

 

 

 

 

 

 

 

Services and office expenses

 

 

 

 

 

 

 

contributed by shareholder      

 

                    -   

 $           -   

 

 $                 4,800

 

 $                    -