SEC Filing Summary: R&R Acquisition VI, Inc. (10-Q)
Business Context and Reporting Period
This filing covers the quarterly period ended September 30, 2009. The registrant is R&R Acquisition VI, Inc., a Delaware corporation classified as a "blank check" company and a development stage entity. The company was incorporated on June 2, 2006, with the sole objective of acquiring or merging with an operating business. As of the reporting date, the company has not commenced any operations, has no specific business plan, and has no employees. It is classified as a smaller reporting company and a shell company.
Key Financial Metrics
| Metric | Three Months Ended Sept 30, 2009 | Inception to Sept 30, 2009 |
|---|---|---|
| Revenue | $0 | $0 |
| Total Operating Expenses | $3,819 | $96,990 |
| Net Loss | $(3,818) | $(96,888) |
| Cash and Cash Equivalents | $9,270 | $9,270 |
| Total Assets | $9,270 | $9,270 |
| Total Liabilities | $9,908 | $9,908 |
| Working Capital | $(638) | $(638) |
| Stockholders' Deficit | $(638) | $(638) |
| Shares Outstanding | 2,500,000 | 2,500,000 |
Note: The filing does not provide data on debt, margins, or liquidity ratios beyond the working capital calculation, as the company has no operating revenue or debt instruments.
Material Changes vs. Prior Period
- Expenses: Total operating expenses increased slightly from $3,306 in the three months ended September 30, 2008, to $3,819 in the current period. This increase is primarily attributed to professional fees and formation costs.
- Cash Position: Cash and cash equivalents increased by $582 during the quarter, driven by $6,000 in contributed capital, partially offset by $5,418 in net cash used in operating activities.
- Accrued Expenses: Accrued expenses decreased from $11,508 at June 30, 2009, to $9,908 at September 30, 2009.
Outlook, Risks, and Management Commentary
Plan of Operation: The company's success is entirely contingent upon completing a business combination with an operating company. Management does not intend to undertake efforts to develop a market for its securities until a combination is concluded. The company expects to have sufficient proceeds for only a single business combination.
Liquidity and Capital Resources: The company has no revenues and relies on future loans from stockholders or management to fund operations. There is no assurance that such loans will be available on acceptable terms. The company currently has a negative working capital position of $638.
Risks and Contingencies:
- Blank Check Status: As a shell company with no operations, the company faces significant uncertainty regarding its ability to find a suitable target for merger.
- Resource Constraints: Limited resources mean the company cannot diversify operations or spread risks across multiple targets.
- Management Continuity: Current management expects to play no managerial role following a business combination.
- Commitments: The company has an agreement for administrative services and office occupancy requiring quarterly payments of $500.
Forward-Looking Statements: The filing includes standard disclaimers that forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from expectations.
Investor Verification Checklist
- Verify the company's status as a "shell company" and "blank check" entity with no current operations.
- Confirm the negative working capital position of $(638) and the reliance on contributed capital for liquidity.
- Review the lack of definitive agreements with any prospective business combination candidates.
- Check the total accumulated deficit of $(96,888) since inception in 2006.
- Confirm the absence of any off-balance sheet arrangements or debt obligations.