U.S.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
(Mark One)
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[X]
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ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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For
Fiscal Year Ended: December 31, 2010
OR
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|
[
]
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TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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For the transition period from _______________ to _______________
Commission file number: 333-138927
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THE CONNECT CORP.
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(Exact name of registrant as specified in its
charter)
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Nevada
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26-2230717
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(State or other jurisdiction of incorporation or
organization)
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(IRS Employer Identification No.)
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#203, 201 Cree Place
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Saskatchewan, Canada
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S7K 2Z3
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(Address of principal executive offices)
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(Postal Code)
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Issuer's telephone number:
(800) 609-0775
Securities registered under
Section 12(b) of the Act:
None
Securities registered under
Section 12(g) of the Act:
None
Indicate by check mark if the
registrant is a well-known seasoned issuer, as defined in Rule 405 of the
Securities Act. Yes [ ]
No [X]
Indicate by
check mark if the registrant is not required to file reports pursuant to Section
13 or 15(d) of the Act. Yes [ ]
No
Indicate by
check mark whether the registrant (1) has filed all reports required to be filed
by Section 13 or 15(d) of the Exchange Act of 1934 during the preceding 12
months (or for such shorter period that the registrant was required to file such
reports), and (2) has been subject to such filing requirements for the past 90
days. Yes [
x]
No [
]
Indicate by checkmark whether the
registrant has submitted electronically and posted on its corporate Website, if
any, every Interactive Data File required to be submitted and posted pursuant to
Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12
months (or for such shorter period that the registrant was required to submit
and post such files). [ ] Yes [] No (Not required by smaller
reporting companies).
Indicate by check mark if
disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not
contained herein, and will not be contained, to the best of registrant's
knowledge, in definitive proxy or information statements incorporated by
reference in Part III of this Form 10-K or any amendment to this Form 10-K.
[ ]
Indicate by check mark whether
the registrant is a large accelerated filer, an accelerated filer, or a smaller
reporting company. See the definitions of large accelerated filer,
accelerated filer, non-accelerated filer, and smaller reporting company in
Rule 12b-2 of the Exchange Act. (Check one):
Large
Accelerated Filer [ ]
Accelerated
Filer [ ]
Non-Accelerated
Filer [ ]
Smaller reporting company [X]
1
Indicate by check mark whether the registrant is a shell
company (as defined in Rule 12b-2 of the Exchange Act).
Yes [X]
No [ ]
As of April 12, 2011, there were
55,500,000 shares of the registrant's common stock, par value $0.001, issued and
outstanding. Of these, 43,500,000 shares are held by non-affiliates of the
registrant. The market value of securities held by non-affiliates is
approximately $43,500,000.
DOCUMENTS INCORPORATED BY REFERENCE
If the following documents are incorporated by reference,
briefly describe them and identify the part of the Form 10-K (e.g., Part I, Part
II, etc.) into which the document is incorporated: (1) any annual report
to security holders; (2) any proxy or information statement; and (3) any
prospectus filed pursuant to Rule 424(b) or (c) of the Securities Act of 1933,
as amended (Securities Act).
Not Applicable.
2
TABLE
OF CONTENTS
Item
Number and Caption
Page
Cautionary
Statements Regarding Forward-Looking Information
4
Description
Of Business
4
Item
1A. Risk Factors.
6
Item
1B.
Unresolved
Staff Comments.
6
Item
2.
Properties.
6
Item
3.
Legal
Proceedings.
6
Item
4.
(Removed
and Reserved).
6
Part
II
7
Item
5.
Market
For Registrants Common Equity, Related Stockholder Matters And Issuer Purchases
Of Equity Securities.
7
Item
6.
Selected
Financial Data.
7
Item
7.
Managements
Discussion And Analysis Of Financial Condition And Results Of
Operations.
7
Item
8 Financial Statements And Supplementary Data.
9
Item
9.
Changes
In And Disagreements With Accountants On Accounting And Financial
Disclosure
25
Item
9A.[T]
Controls
And Procedures
25
Item
9B.
Other
Information
26
Part
III
26
Item
10.
Directors,
Executive Officers, And Corporate Governance
26
Item
11.
Executive
Compensation
27
Item
12.
Security
Ownership Of Certain Beneficial Owners And Management And Related Stockholder
Matters
28
Item
13.
Certain
Relationships And Related Transactions, And Director Independence
29
Item
14.
Principal
Accountant Fees And Services
29
Part
IV
30
Item
15.
Exhibits
And Financial Statement Schedules
30
Signatures
31
3
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING
INFORMATION
Except for historical information, this report contains
forward-looking statements within the meaning of Section 21E of the Securities
Exchange Act of 1934. Such forward-looking statements involve risks and
uncertainties, including, among other things, statements regarding our business
strategy, future revenues and anticipated costs and expenses. Such
forward-looking statements include, among others, those statements including the
words expect, anticipate, intend, believe, and similar language.
Our actual results may differ significantly from those projected in the
forward-looking statements. Factors that might cause or contribute to such
differences include, but are not limited to, those discussed in the sections
Plan of Operation and Business. You are cautioned not to place undue
reliance on the forward-looking statements, which speak only as of the date of
this report. We undertake no obligation to publicly release any revisions
to the forward-looking statements or reflect events or circumstances taking
place after the date of this document.
Although we
believe that the expectations reflected in these forward-looking statements are
based on reasonable assumptions, there are a number of risks and uncertainties
that could cause actual results to differ materially from such forward-looking
statements.
All references in
this Form 10-K to the Company, Connect Corp, we, us, or our are to The
Connect Corp.
Description
of Business
General
Information
The Connect Corp.
(Connect Corp or the Company) was incorporated in the State of Nevada on
April 27, 2007, as Adicus Energy Corp. We changed our name on October 16,
2007 to Iron Head Mining Corp., and subsequently to The Connect Corp. on March
17, 2009. We were previously in the business of mineral exploration and
mining. The Company changed its business plan earlier in the year and is
currently focusing its efforts on raising capital for the completion and launch
of its web-based membership savings system.
As of December 31,
2010, we had generated no revenues. We have been issued an opinion by our
auditor that raises substantial doubt about our ability to continue as a going
concern based on our current financial position. Please refer to note 7 of
our financial statements.
We have a total of
450,000,000 authorized common shares with a par value of $0.001 per share, and
have 55,500,000 common shares issued and outstanding as of December 31,
2010.
We completed a Form
S-1 Registration Statement under the Securities Act of 1933 with the U.S.
Securities and Exchange Commission registering 7,250,000 shares of our common
stock in connection with an offering of the 7,250,000 shares by the selling
stockholders.
Our
principal offices are located at #203, 201 Cree Place, Saskatoon, Saskatchewan,
Canada, S7K 2Z3, and our telephone number is (800) 609-0775.
Business
Development
Connect Corp. has no
revenues and limited operations. We have sustained losses since inception,
April 27, 2007, to December 31, 2010 of $74,244, $26,011, and $25,637 for the
years ended December 31, 2010 and 2009 respectively, and rely solely upon loans
from our corporate officers and directors for funding.
4
Connect Corp. has
never declared bankruptcy, been in receivership, or been involved in any kind of
legal proceeding. The Company, its directors, officers, affiliates, and
promoters have not and do not have any present intentions to enter into
negotiations or discussions with representatives or owners of any other
businesses or companies regarding the possibility of an acquisition or
merger.
Business of
Issuer
Our previous business
focus was on mineral exploration. In January 2008, we obtained an option
to acquire a 100% interest in a mineral claim located in the Smithers Mining
Region in the Province of British Columbia, Canada. The option was
terminated due to our inability to meet option payment and exploration cost
requirements. Since that time, the Company has undergone a revision to its
business plan.
Since the adoption of
its revised business plan, the Company has continued to focus its efforts on the
raising of equity capital for the completion and launch of its web-based
membership savings system, which will offer families options to reduce their
monthly spending. Through the savings website, members will have access to
discounts, sales, and other venues for saving on purchases. Vendors will
supply these savings to members and pay Connect Corp. a commission.
Products available through the website will include everything from
groceries to dining, travel, shopping, banking, and more everyday expenses.
The target customers
will be both individuals and large businesses, the latter of which can offer the
savings to employees as a fringe benefit. The cost to the employer will be
small per employee, but the employee will be entitled to savings from
manufacturers, retailers, and other businesses. We will collect fees from
both businesses, individuals who sign up for membership, as well as businesses
that offer discounts through the website.
Because of our
inability to raise sufficient capital to launch our business model, we have
temporarily placed the launching of our product on hold. We continue to
seek financing and will explore other potential business opportunities over the
next twelve (12) months.
Administration
None of our executive
officers have entered into management agreements. They will, however,
offer their time as officers and directors and provide office administration
services to the firm with no financial compensation until such time as the
Company acquires additional financing following the completion of Phase I.
Employees
We have no employees
as of the date of this Report.
We do not pay any
compensation to our officers and directors solely for serving as directors on
our board of directors.
We conduct our
business largely through agreements with consultants and arms-length third
parties.
Research and
Development Expenditures
We have not incurred
any research or development expenditures since our incorporation.
5
Subsidiaries
We do not have any
subsidiaries.
Patents and
Trademarks
We do not own, either
legally or beneficially, any patent or trademark.
Bankruptcy or
Similar Proceedings
There has been no
bankruptcy, receivership or similar proceedings.
Reorganizations,
Purchases or Sales of Assets
There have been no
material reclassifications, mergers, consolidations, or purchase or sale of a
significant amount of assets not in the ordinary course of business.
ITEM 1A. RISK
FACTORS.
Not Applicable.
ITEM
1B.
UNRESOLVED
STAFF COMMENTS.
Not Applicable.
ITEM
2.
PROPERTIES.
We currently do not
own or lease any property.
We
currently have no investment policies as they pertain to real estate, real
estate interests or real estate mortgages.
ITEM
3.
LEGAL
PROCEEDINGS.
Legal
Proceedings
In the ordinary
course of our business, we may from time to time become subject to routine
litigation or administrative proceedings that are incidental to our business.
We are not a party to nor are we aware of any existing, pending or
threatened lawsuits or other legal actions involving us.
ITEM
4.
(REMOVED
AND RESERVED)
6
PART II
ITEM
5.
MARKET
FOR REGISTRANTS COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES
OF EQUITY SECURITIES.
Market
Information
Bid and ask
prices for our common stock have been quoted on the Over-The-Counter Bulletin
Board (the OTCBB) under the symbol CNNC.OB until January 20, 2011.
Currently our stock is traded on the OTCQB market, formerly known as the
Pink Sheets. Our stock is infrequently traded. Below is a table
showing the high and low asking price for the stock since it began trading.
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Quarter Ended
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High
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Low
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Close
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11/10/08
12/31/08
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$0.10
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$0.10
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$0.10
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3/31/09
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$0.00
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$0.00
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$0.10
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6/30/09
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$1.00
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$0.65
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$0.71
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9/30/09
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$0.00
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$0.00
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$0.71
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12/31/09
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$1.02
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$1.00
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$1.02
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3/31/10
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$1.02
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$1.02
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$1.02
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6/30/10
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$1.02
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$1.00
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$1.02
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9/30/10
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$1.00
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$0.99
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$1.00
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12/31/10
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$1.46
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$1.00
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$1.46
|
As of April 12, 2011,
we had 30 stockholders of record of our common stock.
Dividends
We have never
declared any cash dividends with respect to our common stock. Future
payment of dividends is within the discretion of our board of directors and will
depend on our earnings, capital requirements, financial condition and other
relevant factors. Although there are no material restrictions limiting, or
that are likely to limit, our ability to pay dividends on our common stock, we
presently intend to retain future earnings, if any, for use in our business and
have no present intention to pay cash dividends on our common stock.
Recent Sales of
Unregistered Securities
During the fiscal
year ended December 31, 2010, we did not issue any securities without
registration under the Securities Act of 1933.
ITEM
6.
SELECTED
FINANCIAL DATA.
Not applicable.
ITEM
7.
MANAGEMENTS
DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS.
Results of
Operations
We
have generated no revenues since inception (April 27, 2007) and have incurred
$26,011 in expenses for the year ended December 31, 2010.
7
The
following table provides selected financial data about our company as of and for
the year ended December 31, 2010.
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Balance Sheet Data:
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December 31, 2010
|
|
December 31, 2009
|
|
|
|
|
|
|
|
|
|
|
Cash
|
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$
|
-
|
|
-
|
|
|
Total assets
|
|
$
|
-
|
|
-
|
|
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Total liabilities
|
|
$
|
5,699
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|
11,200
|
|
|
Stockholders' deficit
|
|
$
|
(5,699)
|
|
(11,200)
|
Net
cash provided by financing activities for the year ended December 31, 2010, was
$31,512, consisting of $31,512 in contributed capital.
Plan of
Operation
Over the next 12
months, it is expected that we will need approximately $50,000 to meet our
expenses. Expenses include legal and accounting fees, salaries and general
and administrative expenses. In order to develop its business plan, the
Company will be required to raise capital through the sale of equity, the
issuance of debt or a combination of both. The failure to raise capital
may result in curtailing the development of its business plan, or potentially
the failure to continue the Companys operations.
Limited
Operating History; Need for Additional Capital
There
is no historical financial information about us upon which to base an evaluation
of our performance. We are an exploration stage corporation and have not
generated any revenues from business operations. We cannot guarantee we
will be successful in our business operations. Our business is subject to
risks inherent in the establishment of a new business enterprise, including
limited capital resources and possible cost overruns due to price and cost
increases in services and products.
We
have no assurance that future financing will be available to us on acceptable
terms. If financing is not available on satisfactory terms, we may be
unable to continue, develop or expand our operations. Equity financing
could result in additional dilution to existing stockholders.
Liquidity
and Capital Resources
As
of the date of this report, we have yet to generate any revenues from our
business operations.
Since
inception our main source for cash has been the sale of our equity securities.
Upon inception, we issued 9,250,000 shares of common stock at $.001 par
value to 30 stockholders, including our officer and director, for $9,250 in
cash.
As of the date of
this filing, we have yet to begin operations and therefore have not generated
any revenues.
As
of December 31, 2010, our cash and total assets were $0 and our total
liabilities were $5,699.
8
ITEM 8 FINANCIAL
STATEMENTS AND SUPPLEMENTARY DATA.
The
Connect Corporation
(Formerly Iron Head Mining Corporation)
(A
Development Stage Company)
Audited Financial Statements
For
the Period from April 27, 2007
(Inception) to December 31, 2010
9
The
Connect Corporation
(Formerly Iron Head Mining Corporation)
(A
Development Stage Company)
Index
to the Audited Financial Statements
For
the Period from April 27, 2007
(Inception) to December 31, 2010
Report
of Independent Registered Public Accounting Firm
11
Balance
Sheets as of December 31, 2010 and 2009
12
Statements of
Operations for the years ended December 31, 2010 and 2009,
and
for the period from April 27, 2007 (Inception) to December 31, 2010
13
Statement of Changes
in Stockholders Deficit for the period from
April
27, 2007 (Inception) to December 31, 2010
14
Statements of Cash
Flows for the years ended December 31, 2010 and 2009,
and
for the period from April 27, 2007 (Inception) to December 31, 2010
15
Notes
to the Audited Financial Statements
16-24
10
11
The Connect Corporation
(Formerly Iron Head Mining Corporation)
(A
Development Stage Company)
Balance Sheets
|
|
|
|
December
31, 2010
|
December
31, 2009
|
|
|
|
|
|
|
ASSETS
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$
-
|
$
-
|
Total assets
|
$
-
|
$
-
|
|
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LIABILITIES AND
STOCKHOLDERS' DEFICIT
|
|
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Current liabilities:
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Accounts
payable
|
5,699
|
11,200
|
Total current liabilities
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5,699
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11,200
|
|
|
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Stockholders' Deficit
|
|
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Common
stock, par value $0.001, 450,000,000 shares authorized, 55,500,000 shares
issued and outstanding
|
55,500
|
55,500
|
Additional
paid-in capital
|
13,045
|
(18,467)
|
Deficit
accumulated during the development stage
|
(74,244)
|
(48,233)
|
Total stockholders'
deficit
|
(5,699)
|
(11,200)
|
|
|
|
Total liabilities and
stockholders' deficit
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$
-
|
$
-
|
See accompanying
notes to the audited financial statements.
12
The Connect Corporation
(Formerly Iron Head Mining Corporation)
(A
Development Stage Company)
Statements of Operations
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|
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|
|
For the
Year Ended December 31, 2010
|
For the
Year Ended December 31, 2009
|
For the
Period From April 27, 2007 (Inception) to December 31, 2010
|
|
|
|
|
Revenues:
|
$
-
|
$
-
|
$
-
|
|
|
|
|
Operating expenses:
|
|
|
|
Exploration
costs
|
-
|
-
|
2,500
|
Selling,
general and administrative
|
26,011
|
25,637
|
71,744
|
Operating loss before
income taxes
|
(26,011)
|
(25,637)
|
(74,244)
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|
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Income tax (expense)
benefit
|
-
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-
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-
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Net loss available to
common stockholders
|
$
(26,011)
|
$
(25,637)
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$
(71,244)
|
|
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Basic and diluted loss
per common share
|
$
(0.00)
|
$
(0.00)
|
|
|
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|
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Weighted average shares
outstanding
|
55,500,000
|
55,500,000
|
|
See accompanying
notes to the audited financial statements.
13
The Connect Corporation
(Formerly Iron Head Mining Corporation)
(A
Development Stage Company)
Statement of Changes in Stockholders Equity (Deficit)
For
the Period from April 27, 2007 (Inception) to December 31, 2010
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|
|
|
|
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|
Common
Stock
|
|
|
|
|
Shares
|
Amount
|
Additional Paid-In Capital
|
Deficit
Accumulated During the Development Stage
|
Total
Stockholders' Deficit
|
|
|
|
|
|
|
Balance, April 27, 2007
(Inception)
|
-
|
$
-
|
$
-
|
$
-
|
$
-
|
|
|
|
|
|
|
Common
shares issued for cash, $0.001 per share, May 31, 2007
|
55,500,000
|
55,500
|
(46,250)
|
-
|
9,250
|
Loss
during the period from April 27, 2007 (Inception) to December 31, 2007
|
-
|
-
|
-
|
(200)
|
(200)
|
Contributed
capital
|
-
|
-
|
200
|
-
|
200
|
Balance, December 31,
2007
|
55,500,000
|
55,500
|
(46,050)
|
(200)
|
9,250
|
Loss
for the year ended December 31, 2008
|
-
|
-
|
-
|
(22,396)
|
(22,396)
|
Mining
expenses contributed by related party
|
-
|
-
|
2,500
|
-
|
2,500
|
Contributed
capital
|
-
|
-
|
10,546
|
-
|
10,546
|
Balance, December 31,
2008
|
55,500,000
|
55,500
|
(33,004)
|
(22,596)
|
(100)
|
Loss
for the year ended December 31, 2009
|
-
|
-
|
|
(25,637)
|
(25,637)
|
Contributed
capital
|
-
|
-
|
14,537
|
-
|
14,537
|
Balance, December 31,
2009
|
55,500,000
|
55,500
|
(18,467)
|
(48,233)
|
(11,200)
|
Loss
for the year ended December 31, 2010
|
-
|
-
|
-
|
(26,011)
|
(26,011)
|
Contributed
capital
|
-
|
-
|
31,512
|
-
|
31,512
|
Balance, December 31,
2010
|
55,500,000
|
$
55,500
|
$
13,045
|
$
(74,244)
|
$
(5,699)
|
See
accompanying notes to the audited financial statements.
The Connect Corporation
(Formerly Iron Head Mining Corporation)
(A
Development Stage Company)
Statements of Cash Flows
|
|
|
|
|
For the
Year Ended December 31, 2010
|
For the
Year Ended December 31, 2009
|
For the
Period From April 27, 2007 (Inception) to December 31, 2010
|
|
|
|
|
Cash flows from operating
activities:
|
|
|
|
Net
loss
|
$
(26,011)
|
$
(25,637)
|
$
(74,244)
|
Adjustments
to reconcile net loss to net cash used in operating activities:
|
|
|
|
Mining
expense contributed by related party
|
-
|
-
|
2,500
|
Change
in operating liabilities:
|
|
|
|
Increase
(decrease) in accounts payable
|
(5,501)
|
11,100
|
5,699
|
Net cash used in
operating activities
|
(31,512)
|
(14,537)
|
(66,045)
|
|
|
|
|
Cash flows from investing
activities:
|
-
|
-
|
-
|
Net cash provided by
investing activities
|
-
|
-
|
-
|
|
|
|
|
Cash flows from financing
activities:
|
|
|
|
Cash
received from stock subscriptions receivable
|
-
|
-
|
9,250
|
Contributed
capital
|
31,512
|
14,537
|
56,795
|
Net cash provided by
financing activities
|
31,512
|
14,537
|
66,045
|
|
|
|
|
Net increase in cash
|
$
-
|
$
-
|
$
-
|
Cash at beginning of
period
|
$
-
|
$
-
|
$
-
|
Cash at end of period
|
$
-
|
$
-
|
$
-
|
|
|
|
|
Supplemental Disclosures:
|
|
|
|
Cash
paid for interest
|
$
-
|
$
-
|
$
-
|
Cash
paid for income taxes
|
$
-
|
$
-
|
$
-
|
|
|
|
|
See accompanying
notes to the audited financial statements.
15
The
Connect Corporation
(Formerly Iron Head Mining Corporation)
(A
Development Stage Company)
Notes
to the Audited Financial Statements
For
the Period from April 27, 2007 (Inception) to December 31, 2010
1)
ORGANIZATION
Formerly
known as Adicus Energy Corporation, the Company was incorporated on April 27,
2007 in the State of Nevada. In February, 2009, the Company changed its
name to The Connect Corporation (see Note 4). The Companys headquarters
are based in the state of Saskatoon, Saskatchewan Canada. The accounting
and reporting policies of the Company conform to accounting principles generally
accepted in the United States of America, and the Companys fiscal year end is
December 31.
Formerly
an exploration stage company that primarily engaged in the acquisition,
exploration, and development of resource properties, the Company is currently a
development stage company that seeks to identify organizations that have
attained critical mass thresholds of members, affiliates, and customers with
established electronic communication and delivery systems. The Company
provides value added benefits to these organizations that can significantly
enhance the financial well being through the cost effective electronic
installation of the Net Savings Connection web based savings system. To
date, the Companys activities have been limited to its formation, minimal
operations, and the raising of equity capital.
DEVELOPMENT
STAGE COMPANY
The
Company is considered to be in the development stage as defined in ASC 915
Accounting and Reporting by Development Stage Enterprises.
The
Companys efforts have been devoted primarily to raising capital, borrowing
funds and attempting to implement its planned, principal activities.
2)
SIGNIFICANT
ACCOUNTING POLICIES
USE
OF ESTIMATES
The
preparation of the Companys financial statements in conformity with accounting
principles generally accepted in the United States requires management to make
estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date of
the financial statements and the reported amount of revenues and expenses
16
The Connect Corporation
(Formerly Iron Head Mining Corporation)
(A
Development Stage Company)
Notes
to the Audited Financial Statements
For
the Period from April 27, 2007 (Inception) to December 31, 2010
2)
SIGNIFICANT
ACCOUNTING POLICIES (CONTINUED)
USE
OF ESTIMATES
during
the reporting period. Actual results could differ from those estimates.
The Companys periodic filings with the Securities and Exchange Commission
include, where applicable, disclosures of estimates, assumptions, uncertainties
and markets that could affect the financial statements and future operations of
the Company.
CASH
AND CASH EQUIVALENTS
Cash
and cash equivalents include cash in banks, money market funds, and certificates
of term deposits with maturities of less than three months from inception, which
are readily convertible to known amounts of cash and which, in the opinion of
management, are subject to an insignificant risk of loss in value. The
Company had $0 in cash and cash equivalents as of December 31, 2010 and
2009.
NET
INCOME OR (LOSS) PER SHARE OF COMMON STOCK
The
Company has adopted ASC 260
Earnings per Share,
(EPS) which requires
presentation of basic and diluted EPS on the face of the income statement for
all entities with complex capital structures and requires a reconciliation of
the numerator and denominator of the basic EPS computation to the numerator and
denominator of the diluted EPS computation. In the accompanying financial
statements, basic earnings (loss) per share is computed by dividing net loss by
the weighted average number of shares of common stock outstanding during the
period.
The
following table sets forth the computation of basic and diluted earnings per
share for the years ended December 31, 2010 and 2009:
17
The Connect Corporation
(Formerly Iron Head Mining Corporation)
(A
Development Stage Company)
Notes
to the Audited Financial Statements
For
the Period from April 27, 2007 (Inception) to December 31, 2010
2)
SIGNIFICANT
ACCOUNTING POLICIES (CONTINUED)
|
|
|
|
December
31, 2010
|
December
31, 2009
|
|
|
|
Net loss
|
$
(26,011)
|
$
(25,637)
|
|
|
|
Weighted average shares
outstanding (Basic)
|
55,500,000
|
55,500,000
|
Options
|
-
|
-
|
Warrants
|
-
|
-
|
|
|
|
Weighted average shares
outstanding (Diluted)
|
55,500,000
|
55,500,000
|
|
|
|
Net loss per common share
(Basic and Diluted)
|
$
(0.00)
|
$
(0.00)
|
The
Company has no potentially dilutive securities, such as options or warrants,
currently issued and outstanding.
CONCENTRATIONS
OF CREDIT RISK
The
Companys financial instruments that are exposed to concentrations of credit
risk primarily consist of its cash and cash equivalents and related party
payables it will likely incur in the near future. The Company places its
cash and cash equivalents with financial institutions of high credit worthiness.
At times, its cash and cash equivalents with a particular financial
institution may exceed any applicable government insurance limits. The
Companys management plans to assess the financial strength and credit
worthiness of any parties to which it extends funds, and as such, it believes
that any associated credit risk exposures are limited.
RECENTLY
ISSUED ACCOUNTING PRONOUNCEMENTS
In
June 2009, the FASB established the Accounting Standards Codification
(Codification or ASC) as the source of authoritative accounting principles
recognized by the FASB to be applied by nongovernmental entities in the
preparation of financial statements in accordance with generally accepted
accounting principles in the United States (GAAP). Rules and interpretive
releases of the Securities and Exchange Commission (SEC) issued under
authority of federal securities laws are also sources of GAAP for SEC
registrants. Existing GAAP was not intended to be changed as a result of the
Codification,
18
The Connect Corporation
(Formerly Iron Head Mining Corporation)
(A
Development Stage Company)
Notes
to the Audited Financial Statements
For
the Period from April 27, 2007 (Inception) to December 31, 2010
2)
SIGNIFICANT
ACCOUNTING POLICIES (CONTINUED)
and
accordingly the change did not impact our financial statements. The ASC does
change the way the guidance is organized and presented.
Statement
of Financial Accounting Standards (SFAS) No. 165 (ASC Topic 855), Subsequent
Events, SFAS No. 166 (ASC Topic 810), Accounting for Transfers of Financial
Assets-an Amendment of FASB Statement No. 140, SFAS No. 167 (ASC Topic 810),
Amendments to FASB Interpretation No. 46(R), and SFAS No. 168 (ASC Topic 105),
The FASB Accounting Standards Codification and the Hierarchy of Generally
Accepted Accounting Principles- a replacement of FASB Statement No. 162 were
recently issued. SFAS No. 165, 166, 167, and 168 have no current applicability
to the Company or their effect on the financial statements would not have been
significant.
Accounting
Standards Update (ASU) ASU No. 2009-05 (ASC Topic 820), which amends Fair
Value Measurements and Disclosures Overall, ASU No. 2009-13 (ASC Topic 605),
Multiple Deliverable Revenue Arrangements, ASU No. 2009-14 (ASC Topic 985),
Certain Revenue Arrangements that include Software Elements, and various other
ASUs No. 2009-2 through ASU No. 2011-02 which contain technical corrections to
existing guidance or affect guidance to specialized industries or entities were
recently issued. These updates have no current applicability to the Company or
their effect on the financial statements would not have been significant.
FOREIGN
CURRENCY TRANSLATION
Although
the Companys primary operations are based in Canada, the Companys functional
and reporting currency is the U.S. dollar. Any transactions initiated in
Canadian dollars are translated into U.S. dollars in accordance with SFAS No.
52,
"Foreign Currency Translation"
as follows:
i)
Monetary assets and liabilities at
the rate of exchange in effect at the balance sheet date.
ii)
Equity at historical
rates.
iii)
Revenue and expense items at the
average rate of exchange prevailing during the period.
Adjustments
arising from such translations are deferred until realization and are included
as a separate component of stockholders equity as a component of
19
The Connect Corporation
(Formerly Iron Head Mining Corporation)
(A
Development Stage Company)
Notes
to the Audited Financial Statements
For
the Period from April 27, 2007 (Inception) to December 31, 2010
2)
SIGNIFICANT
ACCOUNTING POLICIES (CONTINUED)
comprehensive
income or loss. Therefore, translation adjustments are not included in
determining net income (loss) but reported as other comprehensive income.
For
foreign currency transactions, the Company translates these amounts to the
Companys functional currency at the exchange rate effective on the invoice
date. If the exchange rate changes between the time of purchase and the
time actual payment is made, a foreign exchange transaction gain or loss results
which is included in determining net income for the period.
No
significant realized exchange gain or losses were recorded from April 27, 2007
(Inception) to December 31, 2010.
3)
MINERAL
CLAIM OPTION AGREEMENT
In
January 2008, the Company entered into an option to purchase certain mineral
claims (the Option) located in the Smithers Mining Region of British Columbia
from the Companys Assistant Secretary. The Option provided for the
Company to acquire a 100 percent undivided interest in and to the aforementioned
mineral claims, free and clear of all charges, encumbrances, and claims in
exchange for $2,500, and the payment of which was waived and treated as a
capital contribution at December 31, 2008. In addition, the Company was
required to make payments pursuant to the Option as follows:
|
|
|
Payment No.
|
Amount
|
Date
|
|
|
|
1
|
$
2,500
|
10/30/2008
|
2
|
5,000
|
5/31/2009
|
3
|
42,500
|
9/1/2009
|
The
Company was also required to incur exploration expenditures of up to $25,000
related to the mineral claims acquired prior to the end of given periods as per
the schedule below:
20
The Connect Corporation
(Formerly Iron Head Mining Corporation)
(A
Development Stage Company)
Notes
to the Audited Financial Statements
For
the Period from April 27, 2007 (Inception) to December 31, 2010
3)
MINERAL
CLAIM OPTION AGREEMENT (CONTINUED)
|
|
|
Payment No.
|
Amount
|
Date
|
|
|
|
1
|
2,000
|
9/30/2008
|
2
|
10,000
|
10/30/2008
|
3
|
13,000
|
9/1/2009
|
If
the Company incurred less in exploration expenditures during a given period than
the amounts as per the schedule above, it would have been required to pay the
difference prior to the expiration of that period. If the Company incurred
more in exploration expenditures than the amounts as per the schedule above, the
excess amount would have been carried forward and applied to the exploration
expenditures to be incurred in the succeeding periods.
The
Option was terminable by the Company at its sole discretion upon giving proper
notice to its Assistant Secretary of intent to terminate.
During
the third quarter of 2008, the Company gave notice to its Assistant Secretary
and the Option was terminated, thus nullifying any remaining option payments or
exploration expenditures.
4)
BUSINESS
PLAN AMENDMENT
In
February 2009, to advance its business plan, and in response to its inability to
obtain necessary funding to implement its former business plan, the Company
performed a comprehensive evaluation of its business plan, resulting in the
development of a new corporate direction and mission statement. In support
of these changes, the Companys Board of Directors elected to change the
Companys name from Iron Head Mining Corporation to The Connect Corporation.
Accordingly, in March 2009, the Company filed a Certificate of Amendment with
Nevada Secretary of State amending its Articles of Incorporation for this
purpose. In addition, in March 2009, the Company named a new Chief
Executive Officer and member to its Board of Directors.
In
February 2009, the Companys Board of Directors elected to implement a 6 to 1
forward split of its common shares. As a result of the forward split,
9,250,000 of the Companys common shares issued and outstanding at the time of
the forward split increased to 55,500,000 common shares issued and outstanding.
These increased amounts have been retrospectively applied to the Companys
financial statements for all periods presented (see Note 5).
21
The Connect Corporation
(Formerly Iron Head Mining Corporation)
(A
Development Stage Company)
Notes
to the Audited Financial Statements
For
the Period from April 27, 2007 (Inception) to December 31, 2010
5)
STOCKHOLDERS
EQUITY
AUTHORIZED
STOCK
The
Company has authorized 450,000,000 common shares with a par value of $.001 per
share. Each share entitles the holder to one vote, in person or proxy, on
any matter on which action of the shareholders of the Company is sought.
SHARE
ISSUANCES
In
February 2009, the Companys Board of Directors elected to implement a 6 to 1
forward split of its common shares. Prior to the forward split, the
Companys issued and outstanding common shares totaled 9,250,000, which
represents common shares issued at $.001 per share, in exchange for $9,250.
As a result of the forward split, the Companys common shares issued and
outstanding increased to 55,500,000 common shares. These increased amounts
have been retrospectively applied to the Companys financial statements for all
periods presented.
CAPITAL
CONTRIBUTIONS
During
the years ended December 31, 2010 and 2009, the Companys Assistant Secretary
contributed $31,512 and $14,537, respectively. These amounts represent
payment on behalf of the Company of operating expenditures. Prior year
contributions of $10,746 by the Assistant Secretary bring the total capital
contributions to $56,795 as of December 31, 2010. This amount has been
included in additional paid-in capital, totaling $13,045 as of December 31,
2010.
6)
PROVISION
FOR INCOME TAXES
The
Company recognizes the tax effects of transactions in the year in which such
transactions enter into the determination of net income, regardless of when
reported for tax purposes. Deferred taxes are provided in the financial
statements under ASC 718-740-20 to give effect to the resulting temporary
differences which may arise from differences in the basis of fixed assets,
depreciation methods, allowances, and start-up costs based on the income taxes
expected to be payable in future years.
22
The Connect Corporation
(Formerly Iron Head Mining Corporation)
(A
Development Stage Company)
Notes
to the Audited Financial Statements
For
the Period from April 27, 2007 (Inception) to December 31, 2010
6)
PROVISION
FOR INCOME TAXES (CONTINUED)
Minimal
development stage deferred tax assets arising as a result of net operating loss
carry forwards have been offset completely by a valuation allowance due to
the uncertainty of their utilization in future periods. Operating loss
carry forwards totaled $26,011 and $25,637 for the periods ended December 31,
2010 and 2009, respectively, and will begin to expire in 2027.
Accordingly, deferred tax assets of approximately $10,404 and $10,255 were
offset by a valuation allowance for each respective year.
The
Company adopted the provisions of uncertain tax positions as addressed in ASC
740-10-65-1, on April 27, 2007. As a result of the implementation of ASC
740-10-65-1, the Company recognized approximately no increase in the liability
for unrecognized tax benefits.
The
Company has no tax position as of December 31, 2010 and 2009 for which the
ultimate deductibility is highly certain but for which there is uncertainty
about the timing of such deductibility. The Company recognizes interest accrued
related to unrecognized tax benefits in interest expense and penalties in
operating expenses. No such interest or penalties were recognized during the
periods presented. The Company had no accruals for interest and penalties as of
December 31, 2010 and 2009. The Companys utilization of any net operating loss
carry forward may be unlikely as a result of its intended development stage
activities.
7)
GOING
CONCERN AND LIQUIDITY CONSIDERATIONS
The
accompanying financial statements have been prepared assuming that the Company
will continue as a going concern, which contemplates, among other things, the
realization of assets and satisfaction of liabilities in the normal course of
business. As of December 31, 2010, the Company has negative working
capital of $5,699 and an accumulated deficit totaling $73,244. The Company
intends to fund operations through equity financing arrangements, which may be
insufficient to fund its capital expenditures, working capital and other cash
requirements for the next twelve months.
The
ability of the Company to emerge from the development stage is dependent upon,
among other things, obtaining additional financing to continue operations,
successfully implementing its newly adopted business plan and realizing
23
The Connect Corporation
(Formerly Iron Head Mining Corporation)
(A
Development Stage Company)
Notes
to the Audited Financial Statements
For
the Period from April 27, 2007 (Inception) to December 31, 2010
7)
GOING
CONCERN AND LIQUIDITY CONSIDERATIONS (CONTINUED)
profitability,
as well as recurring operating cash flows. In response to these factors,
management intends to raise additional funds through public or private placement
offerings, and to expedite to the extent possible the implementation of its
newly adopted business plan.
These
factors, among others, raise substantial doubt about the Companys ability to
continue as a going concern. The accompanying financial statements do not
include any adjustments that might result from the outcome of this
uncertainty.
8)
SUBSEQUENT
EVENTS
The
Company has evaluated its subsequent events from the balance sheet date through
the date of this report. Accordingly, the Companys Assistant Secretary
paid $5,573 on behalf of the Company, representing operating expenditures since
the balance sheet date.
24
ITEM
9.
CHANGES
IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL
DISCLOSURE
Not applicable.
ITEM
9A.[T]
CONTROLS
AND PROCEDURES
Evaluation of Our
Disclosure Controls and Internal Controls
Under the supervision
and with the participation of our senior management, including our chief
executive officer and chief financial officer, or persons acting as such, we
conducted an evaluation of the effectiveness of the design and operation of our
disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e)
under the Securities Exchange Act of 1934, as amended (the Exchange Act), as
of the end of the period covered by this annual report (the Evaluation Date).
Based on this evaluation, our chief executive officer and chief financial
officer concluded as of the Evaluation Date that our disclosure controls and
procedures were effective such that the information relating to us required to
be disclosed in our Securities and Exchange Commission (SEC) reports (i) is
recorded, processed, summarized and reported within the time periods specified
in SEC rules and forms, and (ii) is accumulated and communicated to our
management, including our chief executive officer and chief financial officer,
as appropriate to allow timely decisions regarding required disclosure.
Managements
Annual Report on Internal Control Over Financial Reporting
The
management of the Company is responsible for establishing and maintaining
adequate internal control over financial reporting. The internal control
process has been designed, under our supervision, to provide reasonable
assurance regarding the reliability of financial reporting and the preparation
of the Companys financial statements for external reporting purposes in
accordance with accounting principles generally accepted in the United States of
America.
Management conducted an assessment of the effectiveness of the
Companys internal control over financial reporting as of December 31, 2010,
including (i) the control environment, (ii) risk assessment, (iii) control
activities, (iv) information and communication, and (v) monitoring. Based
on this assessment, management has determined that the Companys internal
control over financial reporting as of December 31, 2010 was effective.
Our
internal control over financial reporting is a process designed to provide
reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with
accounting principles generally accepted in the United States. Because of
its inherent limitations, internal control over financial reporting may not
prevent or detect misstatements. Therefore, even those systems determined
to be effective can provide only reasonable assurance of achieving their control
objectives. In evaluating the effectiveness of our internal control over
financial reporting, our management used the criteria set forth by the Committee
of Sponsoring Organizations of the Treadway Commission (COSO) in Internal
Control Integrated Framework.
This
annual report does not include an attestation report of our registered public
accounting firm regarding internal control over financial reporting.
Managements report was not subject to attestation by our registered
public accounting firm pursuant to temporary rules of the Securities and
Exchange Commission that permit us to provide only managements report in this
annual report.
Officers Certifications
Appearing as exhibits
to this Annual Report are Certifications of our Chief Executive Officer and
Chief Financial Officer. The Certifications are required pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002 (the Section 302
Certifications). This section of the Annual Report contains information
concerning the Controls Evaluation referred to in the Section 302 Certification.
This information should be read in conjunction with the Section 302
Certifications for a more complete understanding of the topics presented.
Changes in Internal Control Over Financial Reporting
There have been no
changes in our internal control over financial reporting that occurred during
the quarter ended December 31, 2010 that have materially affected or are
reasonably likely to materially affect our internal control over financial
reporting.
ITEM
9B.
OTHER
INFORMATION
Not
applicable.
PART
III
ITEM
10.
DIRECTORS,
EXECUTIVE OFFICERS, AND CORPORATE GOVERNANCE
Executive
Officers, Directors and Key Employees
Directors serve until
the next annual meeting of the stockholders; until their successors are elected
or appointed and qualified, or until their prior resignation or removal.
Officers serve for such terms as determined by our board of directors.
Each officer holds office until such officers successor is elected or
appointed and qualified or until such officers earlier resignation or removal.
The following table
sets forth certain information, as of April 12, 2011, with respect to our
directors and executive officers.
|
|
|
|
Name
|
Positions Held
|
Age
|
Date of Appointment
|
|
|
|
|
Ken
Waters
|
Chairman of the
Board
|
39
|
Since inception
|
Current
officers/directors are expected to hold said offices/positions until the next
annual meeting of our stockholders.
Certain
biographical information of our directors and officers is set forth
below.
Mr
. Ken Waters is our sole director and is currently
acting as our sole officer. Mr. Waters was appointed to these positions on
January 15, 2008. Mr. Waters holds a Bachelor of Arts and Sciences degree
from the University of Saskatchewan. In the last six years, Mr. Waters has
been working as a hotel management consultant for several hotels in Western
Canadas oil and gas belt. Mr. Waters presently devotes approximately 15%
of his time to the business.
Term of
Office
Our directors are
elected for one-year terms, to hold office until the next annual general meeting
of the stockholders, or until removed from office in accordance with our bylaws.
Our officers are appointed by our board of directors and hold office until
removed by the board.
Significant
Employees
We have no
significant employees other than the officers and directors described above.
Employment
Agreements
Our officers are our
only employees and we do not have any employment agreements with them.
Audit
Committee
We do not have a
standing audit committee, an audit committee financial expert, or any committee
or person performing a similar function. We currently have limited working
capital and no revenues. Management does not believe that it would be in
our best interests at this time to retain independent directors to sit on an
audit committee. If we are able to raise sufficient financing in the
future, then we will likely seek out and retain independent directors and form
an audit, compensation committee and other applicable committees.
Board of Directors
We do not have an
independent director. Our Directors are reimbursed, however, for expenses,
if any, for attendance at meetings of the Board of Directors. Our Board of
Directors may designate from among its members an executive committee and one or
more other committees but has not done so to date. We do not have a
nominating committee or a nominating committee charter. Further, we do not
have a policy with regard to the consideration of any director candidates
recommended by security holders. To date this has not been a problem as no
security holders have made any such recommendations. Our director performs
all functions that would otherwise be performed by committees. Given the
present size of our board it is not practical for us to have committees.
If we are able to grow our business and increase our operations we intend
to expand the size of our board and allocate responsibilities accordingly.
Compliance with
Section 16(a) of the Exchange Act
Our common stock is
not registered pursuant to Section 12 of the Securities Exchange Act of 1934, as
amended (the Exchange Act). Accordingly, our officers, directors and
principal stockholders are not subject to the beneficial ownership reporting
requirements of Section 16(a) of the Exchange Act.
Code of Ethics
As of December 31,
2010, we have not yet adopted a Code of Ethics.
ITEM
11.
EXECUTIVE
COMPENSATION
(a)
No officer or director of the Company is receiving any remuneration at this
time.
(b) There are no
annuity, pension or retirement benefits proposed to be paid to officers,
directors, or employees of the corporation in the event of retirement at normal
retirement date pursuant to any presently existing plan provided or contributed
to by the corporation or any of its subsidiaries.
(c) No remuneration
is proposed to be paid in the future directly or indirectly by the corporation
to any officer or director under any plan which presently exists.
Director
Compensation
The
members of the Companys Board of Directors do not receive compensation, as
such, at this time, but are paid consulting fees for specific services as
incurred.
Stock Option
Grants
As of the date of
this Report, the Company has not granted any stock options.
Employment
Agreements
We do not have any
employment or consultant agreements.
Indemnification
Under our bylaws, we
may indemnify an officer or director who is made a party to any proceeding,
including a lawsuit, because of his position, if he acted in good faith and in a
manner he reasonably believed to be in our best interest. We may advance
expenses incurred in defending a proceeding. To the extent that the
officer or director is successful on the merits in a proceeding as to which he
is to be indemnified, we must indemnify him against all expenses incurred,
including attorneys fees. With respect to a derivative action, indemnity
may be made only for expenses actually and reasonably incurred in defending the
proceeding, and if the officer or director is judged liable, only by a court
order. The indemnification is intended to be to the fullest extent
permitted by the laws of the State of Nevada.
Regarding
indemnification for liabilities arising under the Securities Act, which may be
permitted to directors or officers under Nevada law, we are informed that, in
the opinion of the Securities and Exchange Commission, indemnification is
against public policy, as expressed in the Act and is, therefore,
unenforceable.
ITEM
12.
SECURITY
OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
MANAGEMENT
AND RELATED STOCKHOLDER MATTERS
The following table
sets forth, as of December 31, 2010, the beneficial ownership of our common
stock by our officers and directors, and any shareholders who beneficially own
more than 5% of our common stock. Except as otherwise indicated, all
shares are owned directly and the percentage shown is based on 55,500,000 shares
of common stock issued and outstanding on December 31, 2010.
|
|
|
Name and
Address of Beneficial Owner
|
Number of
Shares of Common Stock
|
Percentage
Ownership of Common Stock
|
Ken Waters
2118
102
nd
Cresc.
North
Battleford, SK
Canada, S9A
1J5
|
12,000,000
|
21.6%
|
|
|
|
Directors and
Officers as a Group (1)
|
12,000,000
|
21.6%
|
Securities
Authorized for Issuance Under Equity Compensation Plans
We have not adopted
any equity compensation plans since our inception.
ITEM
13.
CERTAIN
RELATIONSHIPS AND RELATED TRANSACTIONS, AND
DIRECTOR
INDEPENDENCE
Other than as set
forth in this section, none of the following parties has, since our date of
incorporation, any material interest, direct or indirect, in any transaction
with us or in any presently proposed transaction that has or will materially
affect us:
*
Our director or officer;
*
Any person proposed as a nominee for election as a
director;
*
Any person who beneficially owns, directly or
indirectly, shares carrying more than 10% of the voting rights attached to our
outstanding shares of common stock;
*
Any of our promoters;
*
Any relative or spouse of any of the foregoing persons
who has the same house as such person.
ITEM
14.
PRINCIPAL
ACCOUNTANT FEES AND SERVICES
Audit
Fees
.
The aggregate fees
billed to us by our principal accountant for services rendered during the fiscal
year ended December 31, 20010 and 2009 is set forth in the table below:
|
|
|
Fee
Category
|
Fiscal year ended
December 31, 2010
|
Fiscal year ended
December 31, 2009
|
|
|
|
Audit fees (1)
|
$10,250
|
$9,500
|
Audit-related fees (2)
|
|
0
|
Tax fees (3)
|
$1,000
|
0
|
All other fees (4)
|
0
|
0
|
Total fees
|
$11,250
|
$9,500
|
(1) Audit fees
consist of fees incurred for professional services rendered for the audit of our
financial statements, for reviews of our interim financial statements included
in our quarterly reports on Form 10-Q and for services that are normally
provided in connection with statutory or regulatory filings or engagements.
(2) Audit-related
fees consist of fees billed for professional services that are reasonably
related to the performance of the audit or review of our financial statements,
but are not reported under Audit fees.
(3) Tax fees consist
of fees billed for professional services relating to tax compliance, tax
planning, and tax advice.
(4) All other fees
consist of fees billed for all other services.
Audit Committees
Pre-Approval Practice
.
We do
not have an audit committee. Our board of directors performs the function
of an audit committee. Section 10A(i) of the Securities Exchange Act of
1934, as amended, prohibits our auditors from performing audit services for us
as well as any services not considered to be audit services unless such services
are pre-approved by our audit committee or, in cases where no such committee
exists, by our board of directors (in lieu of an audit committee) or unless the
services meet certain de minimis standards.
PART
IV
ITEM
15.
EXHIBITS
AND FINANCIAL STATEMENT SCHEDULES
Exhibits
The following
exhibits are included as part of this report:
|
|
|
Exhibit
No.
|
|
Description
|
|
|
|
3.1
|
|
Articles of
Incorporation of Registrant (1)
|
|
|
|
3.2
|
|
By-Laws of
Registrant (1)
|
|
|
|
31.1
|
|
Rule
13(a)-14(a)/15(d)-14(a) Certification of Principal Executive and Financial
Officer
|
|
|
|
32.1
|
|
Rule 1350
Certification of Chief Executive and Financial
Officer
|
(1)
Filed
with the Securities and Exchange Commission on May 30, 2008 as an exhibit,
numbered as indicated above, to the Registrants registration statement on the
Registrants Registration Statement on Form S-1 (file no. 333-151312), which
exhibit is incorporated herein by reference.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly authorized.
Date:
April 15,
2011
THE CONNECT CORP.
By
/s/ Ken
Waters
Name:
Ken
Waters
Title:
Acting
Principal Accounting and Financial Officer
Pursuant to the requirements of the Securities Exchange Act of
1934, this report has been signed below by the following persons on behalf of
the registrant and in the capacities and on the dates indicated.
|
|
|
Signature
|
Title
|
Date
|
/s/ Ken Waters
|
Acting
Principal Accounting and Financial Officer, Chairman
|
April 15, 2011
|
Ken
Waters
|
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