FSTJ First America Resources Corporation (PK)

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

x  QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended December 31, 2011

 

o  TRANSITION REPORT UNDER   SECTION 13 OR 15(d) OF THE EXCHANGE ACT

 

For the transition period from _____________________ to ______________

Golden Oasis New Energy Group, Inc.

(Name of small registrant as specified in its charter)

Nevada		5065		27-2563052
(State or other jurisdiction of incorporation or organization)		(Primary Standard Industrial Classification Code Number)		IRS I.D.

2112A STONINGTON AVENUE HOFFMAN ESTATES, IL		60169
(Address of principal executive offices)		(Zip Code)

Issuer’s telephone number:   630-254-8655

N/A

(Former name, former address and former three months, if changed since last report)

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 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 o

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, 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   o No o

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer	o	Accelerated filer	o
Non-accelerated filer	o	Smaller Reporting Company	x

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o    No x

 

As of June 1, 2012 there were 5,771,500 shares issued and outstanding of the registrant’s common stock.

 

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TABLE OF CONTENTS

 

 

PART I — FINANCIAL INFORMATION

ITEM 1 — FINANCIAL STATEMENTS

 

 

The following discussion of our financial condition and results of operations should be read in conjunction with our financial statements and the related notes, and other financial information included in this Form 10-Q.

Our Management’s Discussion and Analysis contains not only statements that are historical facts, but also statements that are forward-looking.  Forward-looking statements are, by their very nature, uncertain and risky.  These risks and uncertainties include international, national, and local general economic and market conditions; our ability to sustain, manage, or forecast growth; our ability to successfully make and integrate acquisitions; new product development and introduction; existing government regulations and changes in, or the failure to comply with, government regulations; adverse publicity; competition; the loss of significant customers or suppliers; fluctuations and difficulty in forecasting operating results; change in business strategy or development plans; business disruptions; the ability to attract and retain qualified personnel; the ability to protect technology; the risk of foreign currency exchange rate; and other risks that might be detailed from time to time in our filings with the Securities and Exchange Commission.

 

Although the forward-looking statements in this Report reflect the good faith judgment of our management, such statements can only be based on facts and factors currently known by them.  Consequently, and because forward-looking statements are inherently subject to risks and uncertainties, the actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements.  You are urged to carefully review and consider the various disclosures made by us in this report as we attempt to advise interested parties of the risks and factors that may affect our business, financial condition, and results of operations and prospects.

As of the date of this report, we have placed purchase orders for 20 pieces of 48 VDCLiFePo4 batteries, 20 pieces of 36 VDC LiFePo4 batteries, and 20 pieces of 24 VDC LiFePo4 batteries from Zhejiang United Power Energy Co. Ltd. for a total amount of $18,297. The purchase orders were processed and shipped as of  February 2012.  However, we did not receive product until late March due to delays stemming from the lengthy China New Year holiday.

Subsequently, after the end of the quarter ended December 31, 2011, we were able to sell our product in April for gross sales of approximately $9,000.  After we clear all of this purchased inventory, we plan on continuing to place new orders.

 

		Six Month Ended				Six Month Ended				Cumulative from May 10, 2010 (Date of Inception) Through
Expense		December 31, 2011				December 31, 2010				December 31, 2011
		(Unaudited)				(Unaudited)				(Unaudited)
Bank Service Charges		$	80			$	-			$	254
Computer & Internet Expense		$	217			$	146			$	687
Garbage Expense		$	396			$	89			$	699
Professional Fees		$	18,794							$	42,693
Rent Expenses		$	4,763			$	3,482			$	12,307
Utilities
Electricity Expense		$	708			$	694			$	2,076
Gas Expenses		$	-			$	187			$	550
Total Utilities		$	708			$	881			$	2,626
Total Expense		$	24,958			$	4,598			$	59,266

Current Ration = Current Asset / Current Liabilities

Working Capital = Current asset - Current Liabilities

Total Debt / Equity = Total Liabilities / Total Shareholders’ Equity.