Delaware
|
13-4122844
|
|
(State
or other jurisdiction of
|
(I.R.S.
Employer
|
|
incorporation
or organization)
|
Identification
No.)
|
|
32
Poplar Place
|
||
Fanwood,
New Jersey
|
07023
|
|
(Address
of principal executive offices)
|
(Zip
Code)
|
PAGE
|
||
Special
Note Regarding Forward Looking Information
|
3
|
|
PART
I - FINANCIAL INFORMATION
|
||
Item
1.
|
Financial
Statements
|
4
|
Item
2.
|
Plan
of Operation
|
9
|
Item
3.
|
Controls
and Procedures
|
9
|
PART
II - OTHER INFORMATION
|
||
Item
2.
|
Unregistered
Sales of Equity Securities and Use of
Proceeds.
|
10
|
Item
5.
|
Other
Information
|
10
|
Item
6.
|
Exhibits
|
10
|
PAGE
|
|
Consolidated
Balance Sheet as at December 31, 2006
|
5
|
Consolidated
Statements of Operations for the three months
|
|
ended
December 31, 2006 and 2005
|
6
|
Consolidated
Statements of Cash Flows for the three months ended
|
|
December
31, 2006 and 2005
|
7
|
Notes
to Consolidated Financial Statements
|
8
|
CONSOLIDATED
BALANCE SHEET
|
||||
DECEMBER
31, 2006
|
||||
(UNAUDITED)
|
||||
Assets
|
||||
Current
Assets
|
||||
Cash
|
$
|
247,238
|
||
Other
current assets
|
600
|
|||
Total
Assets
|
$
|
247,838
|
||
Liabilities
and Shareholders' Equity
|
||||
Current
Liabilities
|
||||
Accounts
payable and accrued expenses
|
$
|
16,285
|
||
Shareholders'
Equity
|
||||
Preferred
stock, $.0001 par value, 5,000,000
|
||||
shares
authorized; none outstanding
|
||||
Common
stock, $.001 par value; 100,000,000 shares
|
||||
authorized;
7,273,500 shares issued and outstanding
|
7,273
|
|||
Additional
paid-in capital
|
758,259
|
|||
Accumulated
deficit
|
(533,979
|
) | ||
Total
Shareholders' Equity
|
231,553
|
|||
Total
Liabilities and Shareholders' Equity
|
$
|
247,838
|
CONSOLIDATED
STATEMENT OF OPERATIONS
|
|||||||
(UNAUDITED)
|
|||||||
Three
Months Ended
|
|||||||
December
31,
|
|||||||
2006
|
2005
|
||||||
General
and administrative expenses
|
$
|
(15,091
|
)
|
$
|
(16,099
|
)
|
|
Write-off
of deferred compensation
|
(8,934
|
)
|
|||||
Interest
income
|
950
|
1,142
|
|||||
Net
loss
|
$
|
(23,075
|
)
|
$
|
(14,957
|
)
|
|
Basic
and fully diluted net loss per share
|
$
|
*
|
$
|
*
|
|||
Basic
and fully diluted weighted average shares outstanding
|
7,273,500
|
7,273,500
|
|||||
*
Less
than $0.01 per share.
|
CONSOLIDATED
STATEMENT OF CASH FLOWS
|
|||||||
(UNAUDITED)
|
|||||||
Three
Months Ended
|
|||||||
December
31,
|
|||||||
2006
|
2005
|
||||||
Cash
flow from operating activities
|
|||||||
Net
loss
|
$
|
(23,075
|
)
|
$
|
(14,957
|
)
|
|
Adjustments
to reconcile net loss to net
|
|||||||
cash
used in operating activities
|
|||||||
Write-off
/ amortization of deferred compensation
|
8,934
|
1,786
|
|||||
Changes
in assets and liabilities
|
|||||||
Other
current assets
|
(250
|
)
|
(100
|
)
|
|||
Accounts
payable and accrued expenses
|
2,109
|
4,765
|
|||||
Net
cash used in operating activities
|
(12,282
|
)
|
(8,506
|
)
|
|||
Decrease
in cash
|
(12,282
|
)
|
(8,506
|
)
|
|||
Cash,
beginning of period
|
259,520
|
309,106
|
|||||
Cash,
end of period
|
$
|
247,238
|
$
|
300,600
|
|||
31.1/31.2
|
Rule
13(a)-14(a)/15(d)-14(a) Certification of Principal Executive and
|
|
Financial
Officer
|
||
32.1/32.2
|
Rule
1350 Certification of Chief Executive and Financial
Officer
|
HOSTING
SITE NETWORK INC.
|
||
Dated:
February 6, 2007
|
By:
|
/s/
Scott Vicari
|
Scott
Vicari
|
||
President,
Chief Executive and
|
||
Accounting
Officer
|