UNITED STATES
 SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM 10-QSB / A
Amendment No. 1

(Mark One)
S
Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

   For the quarterly period ended June 30, 2007

£
Transition report under Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from ______ to ______

  Commission file number 033-91432

NEW WORLD BRANDS, INC.
(Exact name of small business issuer as specified in its charter)
 
                                                                                                  Delaware                                                                                                                            02-0401674
                                                                               (State or other jurisdiction of                                                                                                         (I.R.S. Employer
                                                                               incorporation or organization)                                                                                                      Identification No.)
 
340 West Fifth Street, Eugene, Oregon 97401
(Address of principal executive offices)

(541) 868-2900
(Issuer’s telephone number)

Not applicable
(Former name, former address and former fiscal year, 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 ___

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

Transitional Small Business Disclosure Format (check one):  Yes ___  No    X
 

 

 
EXPLANATORY NOTE

New World Brands, Inc. (the “Company”) is filing this Amendment No. 1 on Form 10-QSB/A (the “Amendment”) to its Quarterly Report on Form 10-QSB for the quarterly period ended June 30, 2007, originally filed with the Securities and Exchange Commission on August 20, 2007 (the “Original Report”) to amend two inadvertent, typographical errors in the Company’s Condensed Consolidated Balance Sheet. The amount of “Inventories, net” is $752,208 (not $2,376,072, as specified in the Original Report). The amount of Assets Held for Sale is $2,376,072 (not $2,566,475, as specified in the Original Report).

The Amendment does not amend, update, or change any other items or disclosures contained in the Original Report.
 
 

 

PART I - FINANCIAL INFORMATION

Item 1.     FINANCIAL STATEMENTS

New World Brands, Inc. and Subsidiary
Condensed Consolidated Balance Sheet
June 30, 2007 (Unaudited)
 
 
June 30, 2007
 
 
 
 
 
 
(Unaudited)
 
 
 
 
Assets
 
 
 
 
 
 
Cash and Cash Equivalents
 
$
1,419,038
 
 
 
 
 
Accounts Receivable, net
 
 
1,341,222
 
 
 
 
 
Inventories, net
 
 
752,208
 
 
 
 
 
Assets Held for Sale
 
 
2,376,072
 
 
 
 
 
Other Current Assets
 
 
544,775
 
 
 
 
 
Total Current Assets
 
 
6,433,315
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property and Equipment, net
 
 
1,459,764
 
 
 
 
 
Other Assets
 
 
100,000
 
 
 
 
 
Total Long-Term Assets
 
 
1,559,764
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Assets
 
 
7,993,079
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities and Stockholders’ Equity
 
 
 
 
 
 
 
 
Accounts Payable and Accrued Liabilities
 
 
1,135,730
 
 
 
 
 
Other Current Liabilities
 
 
218,329
 
 
 
 
 
Total Current Liabilities
 
 
1,354,060
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-Term Debt
 
 
1,103,942
 
 
 
 
 
Other Long-Term Liabilities
 
 
96,520
 
 
 
 
 
Total Long-Term Liabilities
 
 
1,200,462
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Preferred Stock, $0.01 par value, 1,000 shares authorized, 200 shares designated as Series A Convertible Preferred Stock;
 
 
 
 
 
 
 
 
Series A Convertible Preferred Stock, $0.01 par value, 200 shares authorized, 0 shares issued and outstanding on June 30, 2007
 
 
-
 
 
 
 
 
 
Common Stock, $.01 par value, 600,000,000 shares and 50,000,000 shares authorized, 420,786,784 shares issued and
outstanding on June 30, 2007
 
 
4,207,868
 
 
 
 
 
Paid-In Capital
 
 
33,583,486
 
 
 
 
 
Accumulated Deficit
 
 
(32,303,501
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Accumulated Other Comprehensive Loss
 
 
(49,295
)
 
 
 
 
Shareholders’ Equity
 
 
5,438,557
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Liabilities and Shareholders’ Equity
 
$
7,993,079
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these condensed consolidated financial statements.
 
 



 
SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this Amendment No. 1 on Form 10-QSB/A to be signed on its behalf by the undersigned, thereunto duly authorized.


                      NEW WORLD BRANDS, INC.


Dated:  October 3, 2007                                                                                        By: /s/ M. David Kamrat                      
                    M. David Kamrat
                        Chief Executive Officer and
                        Chairman of the Board


Dated:  October 3, 2007                                                                                        By: /s/ Shehryar Wahid                      
                      Shehryar Wahid
                      Chief Financial Officer
 

 
New World Brands (CE) (USOTC:NWBD)
Gráfica de Acción Histórica
De Jun 2024 a Jul 2024 Haga Click aquí para más Gráficas New World Brands (CE).
New World Brands (CE) (USOTC:NWBD)
Gráfica de Acción Histórica
De Jul 2023 a Jul 2024 Haga Click aquí para más Gráficas New World Brands (CE).