NEVADA
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87-0324697
|
|
(State
of other jurisdiction of
Incorporation
or organization No.)
|
(I.R.S.
Employer Identification
No.)
|
Large
accelerated filer o
|
Accelerated
filer o
|
Non-acclerated
filer o
|
Smaller
reporting company x
|
NORTH
HORIZON, INC.
|
||||||||
(A
Development Stage Company)
|
||||||||
Balance
Sheets
|
||||||||
ASSETS
|
||||||||
March
31,
|
December
31,
|
|||||||
2009
|
2008
|
|||||||
(unaudited)
|
||||||||
CURRENT
ASSETS
|
||||||||
Cash
|
$ | - | $ | - | ||||
Total
Current Assets
|
- | - | ||||||
TOTAL
ASSETS
|
$ | - | $ | - | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY
(DEFICIT)
|
||||||||
CURRENT
LIABILITIES
|
||||||||
Accounts
payable
|
$ | - | $ | - | ||||
Related
party payable
|
27,376 | 22,793 | ||||||
Total
Current Liabilities
|
27,376 | 22,793 | ||||||
STOCKHOLDERS'
EQUITY (DEFICIT)
|
||||||||
Common
stock; 80,000,000 shares authorized,
|
||||||||
at
$0.001 par value, 13,251,250 shares
|
||||||||
issued
and outstanding
|
13,251 | 13,251 | ||||||
Additional
paid in capital
|
3,211,114 | 3,211,114 | ||||||
Deficit
accumulated during the development stage
|
(3,251,741 | ) | (3,247,158 | ) | ||||
Total
Stockholders' Equity (Deficit)
|
(27,376 | ) | (22,793 | ) | ||||
TOTAL
LIABILITIES AND STOCKHOLDERS'
|
||||||||
EQUITY
(DEFICIT)
|
$ | - | $ | - | ||||
NORTH
HORIZON, INC.
|
||||||||||||
(A
Development Stage Company)
|
||||||||||||
Statements
of Operations
|
||||||||||||
(unaudited)
|
||||||||||||
From
|
||||||||||||
January
1, 2002
|
||||||||||||
For
the Three Months Ended
|
Through
|
|||||||||||
March
31,
|
March
31,
|
|||||||||||
2009
|
2008
|
2009
|
||||||||||
REVENUES
|
$ | - | $ | - | $ | - | ||||||
EXPENSES
|
||||||||||||
General
and
|
||||||||||||
administrative
|
4,583 | 8,684 | 30,765 | |||||||||
Total
Expenses
|
4,583 | 8,684 | 30,765 | |||||||||
LOSS
FROM OPERATIONS
|
(4,583 | ) | (8,684 | ) | (30,765 | ) | ||||||
DISCONTINUED
OPERATIONS
|
- | - | (3,220,976 | ) | ||||||||
LOSS
BEFORE INCOME TAXES
|
(4,583 | ) | (8,684 | ) | (3,251,741 | ) | ||||||
PROVISION
FOR INCOME TAXES
|
- | - | - | |||||||||
NET
LOSS
|
$ | (4,583 | ) | $ | (8,684 | ) | $ | (3,251,741 | ) | |||
BASIC
LOSS PER SHARE
|
$ | (0.00 | ) | $ | (0.00 | ) | ||||||
WEIGHTED
AVERAGE
|
||||||||||||
NUMBER
OF SHARES
|
||||||||||||
OUTSTANDING
|
13,251,250 | 13,251,250 | ||||||||||
NORTH
HORIZON, INC.
|
||||||||||||||||||||
(A
Development Stage Company)
|
||||||||||||||||||||
Statements
of Stockholders' Equity (Deficit)
|
||||||||||||||||||||
(unaudited)
|
||||||||||||||||||||
Deficit
|
||||||||||||||||||||
Accumulated
|
||||||||||||||||||||
Additional
|
During
the
|
Total
|
||||||||||||||||||
Common
Stock
|
Paid-In
|
Development
|
Stockholders'
|
|||||||||||||||||
Shares
|
Amount
|
Capital
|
Stage
|
Equity
|
||||||||||||||||
Balance,
January 1, 2002
|
9,025,062 | $ | 9,025 | $ | 3,210,975 | $ | (3,220,000 | ) | $ | - | ||||||||||
Common
stock issued for
|
||||||||||||||||||||
services
at $0.001 per share
|
976,188 | 976 | - | - | 976 | |||||||||||||||
Net
loss for the year ended
|
||||||||||||||||||||
through
December 31, 2003
|
- | - | - | (976 | ) | (976 | ) | |||||||||||||
Balance,
December 31, 2003
|
10,001,250 | 10,001 | 3,210,975 | (3,220,976 | ) | - | ||||||||||||||
Net
loss for the year ended
|
||||||||||||||||||||
December
31, 2004
|
- | - | - | - | - | |||||||||||||||
Balance,
December 31, 2004
|
10,001,250 | 10,001 | 3,210,975 | (3,220,976 | ) | - | ||||||||||||||
Net
loss for the year ended
|
||||||||||||||||||||
December
31, 2005
|
- | - | - | (250 | ) | (250 | ) | |||||||||||||
Balance,
December 31, 2005
|
10,001,250 | 10,001 | 3,210,975 | (3,221,226 | ) | (250 | ) | |||||||||||||
Net
loss for the year ended
|
||||||||||||||||||||
December
31, 2006
|
- | - | - | - | - | |||||||||||||||
Balance,
December 31, 2006
|
10,001,250 | 10,001 | 3,210,975 | (3,221,226 | ) | (250 | ) | |||||||||||||
Common
stock issued for
|
||||||||||||||||||||
debt
at $0.001 per share
|
3,250,000 | 3,250 | 139 | - | 3,389 | |||||||||||||||
Net
loss for the year ended
|
||||||||||||||||||||
December
31, 2007
|
- | - | - | (8,049 | ) | (8,049 | ) | |||||||||||||
Balance,
December 31, 2007
|
13,251,250 | 13,251 | 3,211,114 | (3,229,275 | ) | (4,910 | ) | |||||||||||||
Net
loss for the year ended
|
||||||||||||||||||||
December
31, 2008
|
- | - | - | (17,883 | ) | (17,883 | ) | |||||||||||||
Balance,
December 31, 2008
|
13,251,250 | 13,251 | 3,211,114 | (3,247,158 | ) | (22,793 | ) | |||||||||||||
Net
loss for the three months
|
||||||||||||||||||||
ended
March 31, 2009
|
- | - | - | (4,583 | ) | (4,583 | ) | |||||||||||||
Balance,
March 31, 2009
|
13,251,250 | $ | 13,251 | $ | 3,211,114 | $ | (3,251,741 | ) | $ | (27,376 | ) | |||||||||
NORTH
HORIZON, INC.
|
||||||||||||
(A
Development Stage Company)
|
||||||||||||
Statements
of Cash Flows
|
||||||||||||
(unaudited)
|
||||||||||||
From
|
||||||||||||
January
1,2002
|
||||||||||||
For
the Three Months Ended
|
Through
|
|||||||||||
March
31,
|
March
31,
|
|||||||||||
2009
|
2008
|
2009
|
||||||||||
OPERATING
ACTIVITIES
|
||||||||||||
Net
loss
|
$ | (4,583 | ) | $ | (8,684 | ) | $ | (3,251,741 | ) | |||
Adjustments
to reconcile net loss to net cash
|
||||||||||||
used
by operating activities:
|
||||||||||||
Common
stock issued for services
|
- | - | 976 | |||||||||
Changes
in operating assets and liabilities:
|
||||||||||||
Increase
in accounts payable
|
- | (1,500 | ) | - | ||||||||
Increase
in related party payables
|
4,583 | 10,184 | 30,765 | |||||||||
Net
Cash Used in
|
||||||||||||
Operating
Activities
|
- | - | (3,220,000 | ) | ||||||||
INVESTING
ACTIVITIES
|
- | - | - | |||||||||
FINANCING
ACTIVITIES
|
||||||||||||
Sale
of common stock
|
- | - | 3,220,000 | |||||||||
Net
Cash Provided by
|
||||||||||||
Financing
Activities
|
- | - | 3,220,000 | |||||||||
NET
DECREASE IN CASH
|
- | - | - | |||||||||
CASH
AT BEGINNING OF PERIOD
|
- | - | - | |||||||||
CASH
AT END OF PERIOD
|
$ | - | $ | - | $ | - | ||||||
SUPPLEMENTAL
DISCLOSURES OF
|
||||||||||||
CASH
FLOW INFORMATION
|
||||||||||||
CASH
PAID FOR:
|
||||||||||||
Interest
|
$ | - | $ | - | $ | - | ||||||
Income
Taxes
|
$ | - | $ | - | $ | - | ||||||
NON
CASH FINANCING ACTIVITIES:
|
||||||||||||
Common
stock issued for debt
|
$ | - | $ | 3,389 | $ | 3,389 |
|
North Horizon, Inc. | |||
Date:
April 23, 2009
|
By:
|
/s/ Wallace Boyack | |
Wallace Boyack | |||
President and Chief Executive Officer | |||
|
By:
|
/s/ Wallace Boyack | |
Wallace Boyack | |||
Chief Financial Officer | |||