[X]
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Quarterly
Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of
1934
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For
the quarterly period ended November 30,
2008
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[ ]
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Transition
Report pursuant to 13 or 15(d) of the Securities Exchange Act of
1934
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For
the transition period __________
to __________
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Commission
File Number: 333-138189
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Nevada
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N/A
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(State
or other jurisdiction of incorporation or
organization)
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(IRS
Employer Identification No.)
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3598 Durango St.
Palanan, Makati City, Philippines 1235
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(Address
of principal executive offices)
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011 63 2 728
1626
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(Issuer’s
telephone number)
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_______________________________________________________________
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(Former
name, former address and former fiscal year, if changed since last
report)
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[ ]
Large accelerated filer Accelerated filer
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[ ]
Non-accelerated filer
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[X]
Smaller reporting company
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TABLE
OF CONTENTS
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Page
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|
PART I – FINANCIAL
INFORMATION
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||
PART II – OTHER
INFORMATION
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||
Our
unaudited financial statements included in this Form 10-Q are as
follows:
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|
November
30,
2008
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August
31,
2008
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||||
(Unaudited)
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(Audited)
|
||||
ASSETS
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|||||
Current
Assets
|
|||||
Cash
and equivalents
|
$ | 0 | $ | 0 | |
Prepaid
expenses
|
0 | 0 | |||
TOTAL
ASSETS
|
$ | 0 | $ | 0 | |
LIABILITIES
AND STOCKHOLDERS’ DEFICIT
|
|||||
Current
Liabilities
|
|||||
Loan
payable - related party
|
$ | 36,985 | $ | 34,985 | |
Stockholders’
Deficit
|
|||||
Common
Stock, $.001 par value, 75,000,000 shares authorized,
2,150,000 shares issued and outstanding
|
2,150 | 2,150 | |||
Additional
paid-in capital
|
40,850 | 40,850 | |||
Deficit
accumulated during the development stage
|
(79,985) | (77,985) | |||
Total
stockholders’ deficit
|
(36,985) | (34,985) | |||
TOTAL
LIABILITIES AND STOCKHOLDERS’ DEFICIT
|
$ | 0 | $ | 0 |
Three
months ened
November 30, 2008
|
Three
months ended
November 30, 2007
|
Period
from
May 8, 2006
(Inception) to
November 30, 2008
|
||||||
Revenues
|
$ | -0- | $ | -0- | $ | -0- | ||
General
and administrative expenses:
|
||||||||
Professional
fees
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2,000 | 2,000 | 79,985 | |||||
Net
Loss
|
$ | (2,000) | $ | (2,000) | $ | (79,985) | ||
Net
loss per share:
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||||||||
Basic
and diluted
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$ | (0.00) | $ | (0.00) | $ | (0.04) | ||
Weighted
average shares outstanding:
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||||||||
Basic
and diluted
|
2,150,000 | 2,150,000 | 2,150,000 |
Common
stock
|
Additional
paid-in
|
Deficit
accumulated
during
the
development
|
||||||||||||
Shares
|
Amount
|
capital
|
stage
|
Total
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||||||||||
Issuance
of common stock for
cash @$.001
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2,150,000 | $ | 2,150 | $ | 40,850 | $ | - | $ | 43,000 | |||||
Net
loss for the period ended August 31, 2006
|
- | - | - | (43,985) | (43,985) | |||||||||
Balance
- August 31, 2006
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2,150,000 | 2,150 | 40,850 | (43,985) | ( 985) | |||||||||
Net
loss for the year ended August 31, 2007
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- | - | - | (25,000) | (25,000) | |||||||||
Balance
- August 31, 2007
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2,150,000 | 2,150 | 40,850 | (68,985) | (25,985) | |||||||||
Net
loss for the year ended August 31, 2008
|
- | - | - | (9,000) | (9,000) | |||||||||
Balance
- August 31, 2008
|
2,150,000 | 2,150 | 40,850 | (77,985) | (34,985) | |||||||||
Net
loss for three months ended November 30, 2008
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- | - | - | (2,000) | (2,000) | |||||||||
Balance
- November 30, 2008
|
2,150,000 | $ | 2,150 | $ | 40,850 | $ | (79,985) | $ | (36,985) |
Three
months Ended
November 30, 2008
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Three
months Ended
November 30, 2007
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Period
From
May 8, 2006
(Inception) to
November 30, 2008
|
||||||
CASH
FLOWS FROM OPERATING ACTIVITIES
|
||||||||
Net
loss
|
$ | (2,000) | $ | (2,000) | $ | (79,985) | ||
CASH
FLOWS USED BY OPERATING ACTIVITIES
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(2,000) | (2,000) | (79,985) | |||||
CASH
FLOWS FROM FINANCING ACTIVITIES
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||||||||
Proceeds
from sales of common stock
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0 | 0 | 43,000 | |||||
Loan
from related party
|
2,000 | 2,000 | 36,985 | |||||
CASH
FLOWS PROVIDED BY FINANCING ACTIVITIES
|
2,000 | 2,000 | 79,985 | |||||
NET
INCREASE IN CASH
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0 | 0 | 0 | |||||
Cash,
beginning of period
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-0- | -0- | -0- | |||||
Cash,
end of period
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$ | -0- | $ | -0- | $ | -0- | ||
SUPPLEMENTAL
CASH FLOW INFORMATION
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||||||||
Interest
paid
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$ | -0- | $ | -0- | $ | -0- | ||
Income
taxes paid
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$ | -0- | $ | -0- | $ | -0- |
2008
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||
Deferred
tax asset attributable to:
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||
Net
operating loss carryover
|
$ | 27,195 |
Valuation
allowance
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(27,195) | |
Net
deferred tax asset
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$ | - |
Serial
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Examination
project
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Unit
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Regular
Gas Specification
|
Target
Examination result
|
|
1
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Octane
value
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/
|
>=90
|
90
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2
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Temperature
of Evaporation
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10%
Evaporation
|
C
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<=70
|
66
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20%
Evaporation
|
C
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<=120
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93
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||
50%
Evaporation
|
C
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<=190
|
185
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||
Stop
point
|
C
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<=205
|
200
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||
Left
content
|
%
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<=2
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2.1
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||
3
|
Steam
Barometric Pressure
|
March
16 – September 15
|
KPa
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<=74
|
70
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September
16 –March 15
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KPa
|
<=88
|
82
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||
4
|
Sol
|
Mg/100ml
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<=5
|
5
|
|
5
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Sheet
copper corrosion (50C, 3h)
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/
|
<=1
|
1
|
|
6
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Water-soluble
acid and alkali
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/
|
No
|
No
|
|
7
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Mechanical
impurity
|
/
|
No
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No
|
|
8
|
Water
content
|
m/m
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<=0.15
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0.16
|
Serial
|
Examination
project
|
Unit
|
Regular
Gas Specification
|
Target
Examination result
|
|
1
|
Octane
value
|
/
|
>=90
|
91
|
|
2
|
Temperature
of Evaporation
|
10%
Evaporation
|
C
|
<=70
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56
|
20%
Evaporation
|
C
|
<=120
|
90
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||
50%
Evaporation
|
C
|
<=190
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165
|
||
Stop
point
|
C
|
<=205
|
190
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||
Left
content
|
%
|
<=2
|
1
|
||
3
|
Steam
Barometric Pressure
|
March
16 – September 15
|
KPa
|
<=74
|
65
|
September
16 –March 15
|
KPa
|
<=88
|
78
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||
4
|
Sol
|
Mg/100ml
|
<=5
|
4
|
|
5
|
Sheet
copper corrosion (50C, 3h)
|
/
|
<=1
|
1
|
|
6
|
Water-soluble
acid and alkali
|
/
|
No
|
No
|
|
7
|
Mechanical
impurity
|
/
|
No
|
No
|
|
8
|
Water
content
|
m/m
|
<=0.15
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0.13
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§
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Develop
the complete and commercial version of our proposed gasoline formula by
mid to late 2009. This will be the completed version of gasoline formula,
which will be marketed to potential customers in Philippines. Commence an
advertising campaign for our proposed gasoline formula following its
development.
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§
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Commence
development of prospects for higher standard gasoline formula by mid
2009.
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§
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Audit
fee, which consists primarily of accounting and auditing fees for the
yearend audit. We estimate that our audit fees for the next twelve months
will be approximately $10,000, which includes quarterly
reviews;
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§
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Bank
charges, which consist primarily of charges by our bank for processing
transactions through our checking account. We estimate that our bank
charges for the next twelve months will be approximately
$100;
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§
|
Legal
fees, which consist primarily of fees paid by us regarding corporate and
securities advice and our reporting obligations under the 1934 Securities
and Exchange Act. We estimate that our legal fees for the next twelve
months will be approximately $15,000 to $20,000;
and
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§
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Other
operating expenses, which consist primarily of the expenses incurred for
further development of our proposed gasoline formula; for the advertising
campaign for our proposed gasoline formula; and for development of
prospects for third party applications for our proposed containment system
and other administrative expenses. We estimate that our other operating
expenses for the next twelve months will be approximately
$30,000.
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Exhibit
Number
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Description
of Exhibit
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Atheron
Inc.
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Date:
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January
14, 2009
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By: /s/ Sussanna
Hilario
Susanna
Hilario
Title: Chief
Executive Officer, Chief Financial Officer, Principal Accounting
Officer and Director
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