Florida
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20-3217152
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(State
or other jurisdiction of incorporation or organization)
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(IRS
Employer Identification No.)
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PART
1. FINANCIAL INFORMATION
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3
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3
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3
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4
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5
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6
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7
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10
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10
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11
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11
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12
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PART
II - OTHER INFORMATION
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13
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13
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13
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13
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13
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13
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13
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December
31,
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June
30,
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||||||
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2006
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2006
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|||||
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(Unaudited)
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|||||
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|||||||
ASSETS
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|||||||
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|||||||
Cash
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$
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3,755
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$
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53,515
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|||
Inventories
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60,789
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-
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|||||
Deposit
on inventories
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-
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60,789
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|||||
Other
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10,275
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7,955
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|||||
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|||||||
Total
current assets
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74,819
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122,259
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|||||
Trademark
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325
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-
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|||||
Security
deposit
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200
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200
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|||||
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|||||||
Total
assets
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$
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75,344
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$
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122,459
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|||
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|||||||
LIABILITIES
AND STOCKHOLDERS' EQUITY
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|||||||
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|||||||
CURRENT
LIABILITIES
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|||||||
Accounts
payable and accrued expenses
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$
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20,872
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$
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10,000
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|||
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|||||||
STOCKHOLDERS'
EQUITY
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|||||||
Common
stock to be issued, net
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176,820
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176,820
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|||||
Deficit
accumulated during the development stage
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(122,348
|
)
|
(64,361
|
)
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|||
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|||||||
Total
stockholders' equity
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54,472
|
112,459
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|||||
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|||||||
Total
liabilities and stockholders' equity
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$
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75,344
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$
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122,459
|
|
Three
months ended
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Three
months ended
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Six
months ended
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|
July
22, 2005 (inception) through
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|
July
22, 2005 (inception) through
|
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||||||
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December
31,
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December
31,
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December
31,
|
|
December
31,
|
|
December
31,
|
|
||||||
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2006
(Unaudited)
|
2005
(Unaudited)
|
2006
(Unaudited)
|
|
2005
(Unaudited)
|
|
2006
(Unaudited)
|
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||||||
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|||||||
REVENUES
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$
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-
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$
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-
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$
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-
|
|
$
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-
|
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$
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-
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|
|
|
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EXPENSES
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General
and administrative expenses
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36,461
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12,527
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57,987
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|
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58,110
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122,348
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Loss
before provision for income taxes
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(36,461)
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(12,527)
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(57,987
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)
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(58,110
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)
|
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(122,348
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)
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Provision
for income taxes
|
|
-
|
|
-
|
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-
|
|
|
-
|
|
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-
|
|
|
|
|
|
|
|
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Net
loss
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$
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(36,461)
|
$
|
(12,527)
|
$
|
(57,987
|
)
|
$
|
(58,110
|
)
|
$
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(122,348
|
)
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|
|
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|
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|
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Net
loss per share- basic and diluted
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$
|
-0-
|
$
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-0-
|
$
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-0-
|
|
$
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-0-
|
|
$
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-0-
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|
|
|
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Weighted
average common shares
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20,611,750
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20,309,215
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20,611,750
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17,821,234
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19,673,351
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|
|
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|||||||||
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Common
stock to be issued
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Deficit
Accumulated
During
the
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Total
Stockholders'
|
||||||||||
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Shares
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Amount
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Development
Stage
|
Equity
|
|||||||||
Balance,
July 22, 2005 (inception)
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-
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$
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-
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$
|
-
|
$
|
-
|
||||||
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|||||||||||||
Common
stock to be issued in connection with Incorporation (July 22,
2005)
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4,000,000
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10,000
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-
|
10,000
|
|||||||||
|
|||||||||||||
Common
stock to be issued as compensation - consulting service
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16,150,000
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40,375
|
-
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40,375
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|||||||||
|
|||||||||||||
Common
stock to be issued - private placement, net of issuance costs of
$58,255
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461,750
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126,445
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-
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126,445
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|||||||||
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|||||||||||||
Net
loss
|
-
|
-
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(64,361
|
)
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(64,361
|
)
|
|||||||
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|||||||||||||
Balance,
June 30, 2006 (audited)
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20,611,750
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176,820
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(64,361
|
)
|
112,459
|
||||||||
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|||||||||||||
Net
loss (unaudited)
|
-
|
-
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(57,987
|
)
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(57,987
|
)
|
|||||||
|
|||||||||||||
Balance,
December 31, 2006 (unaudited)
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20,611,750
|
$
|
176,820
|
$
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(122,348
|
)
|
$
|
54,472
|
July
22,
2005
|
July
22, 2005
|
|||||||||
Six
months ended
|
(inception)
through
|
(inception)
through
|
||||||||
December
31,
|
December
31,
|
December
31,
|
||||||||
2006
|
2005
|
2005
|
||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||||
Net
loss
|
$(57,987)
|
$(58,110)
|
$(122,348)
|
|||||||
Adjustment
to reconcile net loss to net cash used in operating
activities:
|
|
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|
|||||||
Common
stock to be issued as compensation -
|
|
|
|
|||||||
Consulting
services
|
-
|
40,375
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40,375
|
|||||||
Changes
in operating assets and liabilities:
|
|
|
|
|||||||
(Increase)/Decrease
in:
|
|
|
|
|||||||
Inventories
|
-
|
-
|
(60,789)
|
|||||||
Other
|
(2,320
)
|
(3,261)
|
(10,275)
|
|||||||
Security
deposit
|
-
|
-
|
(200)
|
|||||||
Increase/(Decrease)
in:
|
|
|
|
|||||||
Accounts
payable and accrued expenses
|
10,872
|
-
|
20,872
|
|||||||
Net
cash used in operating activities
|
(49,435
|
)
|
(20,996
|
)
|
(132,365
|
)
|
||||
CASH
FLOW FROM INVESTING ACTIVITIES:
|
||||||||||
Trademark
|
(325
|
)
|
-
|
(325
|
)
|
|||||
Net
cash used in investing activities
|
(325
|
)
|
-
|
(325
|
)
|
|||||
CASH
FLOW FROM FINANCING ACTIVITIES:
|
||||||||||
Net
proceeds from private placement
|
-
|
109,945
|
126,445
|
|||||||
Proceeds
from sale of founders shares
|
-
|
10,000
|
10,000
|
|||||||
Loan
officer
|
-
|
2,000
|
-
|
|||||||
|
||||||||||
Net
cash provided by financing activities
|
-
|
121,945
|
136,445
|
|||||||
|
||||||||||
NET
(DECREASE)/INCREASE IN CASH
|
(49,760
|
)
|
100,949
|
3,755
|
||||||
CASH,
beginning of period
|
$
|
53,515
|
-
|
-
|
||||||
|
||||||||||
CASH,
end of period
|
$
|
3,755
|
$
|
100,949
|
$
|
3,755
|
Exhibit
No.
|
Description
of Exhibit
|
3.1
|
Articles
of incorporation (1)
|
3.2
|
Bylaws
(1)
|
3.3
|
Articles
of Amendment to Articles of Incorporation (1)
|
4.1
|
Copy
of common stock certificate (1)
|
31.1
|
|
31.2
|
|
32
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|
WaterPure International, Inc. | ||
|
|
|
Date: February 14, 2007 | By: | /s/ Paul S. Lipschutz |
|
||
Principal
Executive Officer, President
and
Director
|
WaterPure International, Inc. | ||
|
|
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Date: February 14, 2007 | By: | /s/ Robert F. Orr |
|
||
Principal
Financial and Accounting
Officer
and Director
|