Business Context and Reporting Period
This Form 10-Q covers the quarterly period ended March 31, 2010, for Blue Moose Media, Inc. (Note: The input metadata referenced "LIQTECH INTERNATIONAL INC," but the filing text explicitly identifies the registrant as Blue Moose Media, Inc.). The company is classified as a development stage company and a shell company. It ceased its original media production operations in 2007 and is currently seeking a reverse acquisition or merger with an operating entity to become a public reporting company.
Key Financial Metrics
| Metric | Q1 2010 (Unaudited) | Q1 2009 (Unaudited) | From Inception to Mar 31, 2010 |
|---|---|---|---|
| Revenue | $0 | $0 | $24,651 |
| Net Loss | $(7,765) | $(2,291) | $(118,546) |
| Operating Expenses | $7,765 | $2,291 | $136,809 |
| Cash and Cash Equivalents | $4,859 | $4,651 | $4,859 |
| Total Assets | $5,043 | N/A | N/A |
| Total Liabilities | $19,589 | N/A | N/A |
| Stockholders' Deficit | $(14,546) | N/A | N/A |
| Accounts Payable | $18,264 | N/A | N/A |
Liquidity: The company has minimal cash ($4,859) and significant accounts payable ($18,264). It relies on advances from related parties and recent stock sales to fund operations.
Material Changes vs. Prior Period
- Increased Expenses: General and administrative expenses increased from $2,291 in Q1 2009 to $7,765 in Q1 2010. Management attributes this increase to auditing and legal fees associated with filing a Form 10 registration statement.
- Worsened Loss: The net loss for the quarter increased to $(7,765) compared to $(2,291) in the prior year period.
- Liability Growth: Accounts payable increased from $11,277 (Dec 31, 2009) to $18,264 (Mar 31, 2010), indicating a reliance on trade credit to fund operations.
Outlook, Risks, and Unusual Items
- Going Concern: The filing explicitly states that the company's limited operating history and lack of revenue raise substantial doubt about its ability to continue as a going concern. Continued operations depend on raising additional capital through loans or stock sales.
- Change in Control (Subsequent Event): On April 20, 2010, Mr. Gordon Tattersall purchased 20,000,000 shares for $20,000, acquiring 48% ownership and becoming the new President, Secretary, and Treasurer. This transaction replaced the previous sole officer, Mr. Jason Davis.
- Capital Resources: Management estimates ongoing expenses at approximately $20,000 per year. The $20,000 raised in the April 2010 stock sale is expected to cover expenses for the next year, though there is no assurance of future funding.
- Business Plan: The company has no specific business plan other than seeking a reverse acquisition. It has no employees and relies on officers to conduct business.
Investor Verification Checklist
- Company Identity: Verify that the filing is for Blue Moose Media, Inc., not "LIQTECH INTERNATIONAL INC" as suggested in the request metadata.
- Shell Status: Confirm the company's status as a shell company with no active revenue-generating operations.
- Recent Capital Raise: Verify the April 20, 2010, stock sale to Mr. Gordon Tattersall and the resulting change in control.
- Liquidity Risk: Assess the company's ability to meet its $18,264 in accounts payable with only $4,859 in cash.
- Going Concern: Review the "Going Concern" note (Note 7) regarding the substantial doubt about the company's future viability.