posted
They have been planning to sell since 04 get over it. Thats how they get paid. They get their shares and they sell them. We aren't talking about extremely wealthy ppl that don't need the money. I would sell extra shares if I get them for free too. Duh!
IP: Logged |
posted
cc mentioned r/s and major dilution going on management needs to cut back on what their getting on those big checks. 200,000,000 million shares added and this company is not making money at this point, I think the SEC should be contacted and I believe I will do just that. Management should not get rich from investors
IP: Logged |
posted
Repoman and several others are pumping this stock on couple other boards also beware of this POS compant guaranteed to leave you hanging
IP: Logged |
posted
Haha.. you're going to contact the SEC because you don't believe the company should do a R/S to get off the OTC, and because it is not profitable at this point?
You are a clown. 1 star for you.
NEXT!
-------------------- Stick with Repo's plan in '07 - FRPT/DKAM!
IP: Logged |
posted
quit pumping this POS repoman, not from those reasons have other ones we will see have already sent email to SEC but thanks for your reply and where might you and berry be having lunch today to discuss the next PR that will be released
IP: Logged |
(Former name, former address and former fiscal year, if changed since last report)
Check whether the issuer (1) has filed all documents and reports required to be filed by Section 13 or 15(d) of the Securities and 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.
(1) x Yes o No
(2) x Yes o No
The number of shares of issuer's Common Stock outstanding as of April 19, 2006: 187,922,760 shares
SYSTEMS EVOLUTION INC. INDEX QUARTERLY REPORT ON FORM 10-QSB FOR QUARTERLY PERIOD ENDED February 28, 2006
PART I. FINANCIAL INFORMATION ITEM 1 - Unaudited Consolidated Financial Statements a. Consolidated Balance Sheet as of February 28, 2006 (Unaudited)
b. Consolidated Statements of Operations for the Three And Nine Months Ended February 28, 2006 and 2005 (Unaudited) c. Consolidated Statements of Cash Flows for the Nine Months Ended February 28, 2006 and 2005 (Unaudited) d. Notes to Consolidated Financial Statements (Unaudited) ITEM 2 - Management's Discussion and Analysis ITEM 3 - Controls and Procedures
PART II. OTHER INFORMATION ITEM 6 - Exhibits
SIGNATURES
EXHIBIT 31 - Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 EXHIBIT 32 - Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
SYSTEMS EVOLUTION, INC. CONSOLIDATED BALANCE SHEET February 28, 2006 (Unaudited)
ASSETS
Current Assets Cash $ 6,404 Accounts receivable, net of allowance for doubtful accounts of $17,211 560,825 Unbilled revenue 223,479 Prepaid expenses and other current assets 18,537 Total Current Assets 809,245
Deferred financing cost, net of $2,879,387 accumulated amortization 2,752,876 Other assets 10,639 Furniture and equipment, net of accumulated depreciation of $178,224 99,308 Goodwill 1,231,648 Intangibles, net of $1,098,824 amortization and $91,150 impairment 1,122,537 TOTAL ASSETS $ 6,026,253
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities Accounts payable $ 605,523 Accrued expenses 597,969 Notes payable 57,419 Total Current Liabilities 1,260,911
Deferred rents 19,546 Convertible note, net 1,517,543 Long-term debt - related parties 131,509 Total Liabilities 2,929,509
STOCKHOLDERS' EQUITY Common stock, no par value, 750,000,000 shares authorized, 187,922,760 shares issued and outstanding
16,263,858 Accumulated deficit (13,167,114) Total Stockholders' Equity 3,096,744
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 6,026,253
SYSTEMS EVOLUTION, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS For the Nine Months Ended February 28, 2006 and 2005
2006 2005 CASH FLOWS FROM OPERATING ACTIVITIES Net loss $ (4,358,949) $ (4,526,216) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 583,032 1,015,350 Amortization of discount on notes payable 908,775 - Amortization of deferred financing costs 1,483,972 - Shares issued for services 312,059 242,050 Stock options and warrant expense - - Shares issued for bonus - 32,695 Stock compensation expense - 1,644,751 Bad debt expense - - Gain on sale of fixed assets - - Changes in: Accounts receivable (241,214) (78,548) Prepaid expenses and other current assets 306,105 (372,515) Other assets (1,668) (58,947) Accounts payable 329,821 (416,401) Unearned service revenue (15,509) - Accrued expenses 375,024 89,571 NET CASH USED IN OPERATING ACTIVITIES (318,552) (2,428,210)
CASH FLOWS FROM INVESTING ACTIVITIES Purchase of CMS - - Purchase of Duration Software - - Purchase of equipment (2,500) (33,461) NET CASH USED IN INVESTING ACTIVITIES (2,500) (33,461)
CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from notes payable and long-term debt 3,940 238,399 Payments notes payable and long-term debt (10,000) (687,292) Proceeds from convertible note 250,000 2,825,000 Deferred rent 17,456 - Deferred financing cost - - Common stock issued for cash - 124,840 Proceeds from exercise of warrants - 2,250 NET CASH PROVIDED BY FINANCING ACTIVITIES 261,396 2,503,197
NET CHANGE IN CASH $ (59,656) $ 41,526 - Cash, beginning of period 66,060 19,522 - Cash, end of period $ 6,404 $ 20,979
NON-CASH INVESTING AND FINANCING ACTIVITIES: Common stock issued for acquisition of CMS - 104,000 Common stock issued for acquisition of Duration - 2,250,000 Common stock issued for acquisition of Next Hire - 40,000 Common stock issued for computer equipment - 52,070 Common stock issued for debt 175,400 31,029 Discount of notes payable 250,000 -
SYSTEMS EVOLUTION INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS February 28, 2006 (UNAUDITED)
NOTE 1 - BASIS OF PRESENTATION
The accompanying unaudited interim financial statements of Systems Evolution Inc. ("SEVI") have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission ("SEC"), and should be read in conjunction with the audited financial statements and notes thereto contained in the SEVI's Annual Report filed with the SEC on Form 10-KSB. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosure contained in the audited financial statements for fiscal 2005 as reported in the 10-KSB have been omitted.
Impairment of Long-Lived Assets - SEVI reviews the carrying value of its long-lived assets annually or whenever events or changes in circumstances indicate that the historical cost-carrying value of an asset may no longer be appropriate. SEVI assesses recoverability of the carrying value of the asset by estimating the future net cash flows expected to result from the asset, including eventual disposition. If the future net cash flows are less than the carrying value of the asset, an impairment loss is recorded equal to the difference between the asset’s carrying value and fair value.
ITEM 3 - Controls and Procedures
Disclosure Controls and Procedures . The Company's management, with the participation of the Company's Chief Executive Officer, has evaluated the effectiveness of the Company's disclosure controls and procedures (as such term is 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 report. Based on such evaluation, the Company's Chief Executive Officer has concluded that, as of the end of such period, the Company's disclosure controls and procedures are effective in recording, processing, summarizing and reporting, on a timely basis, information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act.
Internal Control Over Financial Reporting . There have not been any changes in the Company's internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the fiscal quarter to which this report relates that have materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting.
PART II - OTHER INFORMATION
ITEM 6 - Exhibits and Report on Form 8-K
(a) Exhibits.
31.1 Certification of Chief Executive Officer and Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1 Certification of Chief Executive Officer and Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes- Oxley Act of 2002, filed herewith.
SIGNATURES
In accordance with the requirements of the Securities Exchange Act of 1934, as amended, the Company caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Systems Evolution Inc.
Dated: April 19, 2006
/s/ Robert C. Rhodes
Robert C. Rhodes Chief Executive Officer Chief Financial Officer
Exhibit 31.1
CERTIFICATIONS
I, Robert C. Rhodes, Chief Executive Officer of Systems Evolution Inc., certify that:
1. I have reviewed this quarterly report on Form 10-QSB of Systems Evolution Inc.;
2. Based on my knowledge, this report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:
a. designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;
b. designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c. evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;
d. disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
a. all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
b. any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
Date: April 19, 2006
/s/ Robert C. Rhodes Chief Financial Officer Chief Executive Officer
Exhibit 32
CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
In connection with the Quarterly Report of Systems Evolution Inc. (the "Company") on Form 10-QSB for the quarter ended October 21, 2005 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Robert C. Rhodes, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge:
(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.
April 19, 2006
/s/ Robert C. Rhodes Chief Executive Officer Chief Financial Officer
All information contained herein is provided "as is." Pink Sheets LLC makes no representation or warranty, expressed or implied, as to the accuracy, timeliness, or completeness of the information provided herein. Neither Pink Sheets LLC, nor its directors, officers, employees, or third party data suppliers, shall bear any responsibility or liability to verify the information and/or its source or for the use, misuse, or inability to use the information provided. None of the foregoing parties shall be liable to any third-party claims or losses of any nature. Accordingly, investors should not use this information as the basis for making an investment decision. Please see Risk Warning and Terms of Service for more information.
Risk Warning | Contact Regulators
Home | About Us | Contact Us | FAQ | Glossary Quotes & News | Market Activity| Company Search | OTC Guide | Products & Services
Enter symbol: Sign Up Login Logout Message Board Quote(s) LiveChart - - - - - News Chart (1-year) Find symbol
Home | Board Directory | Member Forums | Rules of the Road | My Finance | Portfolios | Help & Feedback
Systems Evolution Inc (BB: SEVI) SEVI Quote | SEVI Msg Board | SEVI LiveCharts | SEVI Chart | SEVI News | SEVI Company Info | SEVI I-Watch | SEVI Insider | SEVI Analyst Recs | SEVI Top Holders
1992 posts -- Msg. # Posts per pg 10 per page 20 per page 30 per page 40 per page 50 per page « Prev 60 | Next 60 » Post new message | Refresh list Msg. # Subject Posted by Date
1992 The brightside will be the PR if they would relea repomaan 20 Apr 2006 10:27 AM EDT
1991 Hey look on the bright side. The 50ma has been m mysticobra96 20 Apr 2006 10:24 AM EDT
1990 Just when you think a stock is dead. russell2005ga 20 Apr 2006 10:12 AM EDT
1989 E-mail the company or Investor Relations to clari tonylai_8 20 Apr 2006 10:11 AM EDT
ˆ. 1988 If they would release the d*mn PR already about g repomaan 20 Apr 2006 10:09 AM EDT
1987 The bid is lowering, Barry. I thought you said we tonylai_8 20 Apr 2006 10:05 AM EDT
1986 rep, good job,,like you posts, sevi will move up barry70518 20 Apr 2006 10:03 AM EDT
1985 So I can't talk about SEVI with my fellow investo repomaan 20 Apr 2006 10:01 AM EDT
1984 this stock is all over the place today. quioxte00 20 Apr 2006 10:00 AM EDT
1983 Repo - what are you? How about making prediction chainring0 20 Apr 2006 9:56 AM EDT
1982 No it was a Mil I watched it and counted Acc/ mysticobra96 20 Apr 2006 9:55 AM EDT
1981 1 mil? I think it was 100,000. WHere's the damn repomaan 20 Apr 2006 9:54 AM EDT
1980 1000000 buy at .027 Hmm... mysticobra96 20 Apr 2006 9:51 AM EDT
1979 I'm looking for .05 in 1-3 months.. you tell me w repomaan 20 Apr 2006 9:50 AM EDT
1978 Here's the 10Q weo1998 20 Apr 2006 9:47 AM EDT
1977 "When's the PR coming? Where's the news? Bi chainring0 20 Apr 2006 9:45 AM EDT
1976 Well, it's listed on the SEC site so my guess is repomaan 20 Apr 2006 9:41 AM EDT
1975 it not on etrade either quioxte00 20 Apr 2006 9:37 AM EDT
1974 There will be a PR today. repomaan 20 Apr 2006 9:37 AM EDT
1973 I don't know why the 10Q is not on Yahoo yet. repomaan 20 Apr 2006 9:36 AM EDT
1972 going to be a down day quioxte00 20 Apr 2006 9:35 AM EDT
1971 Huge buys at the ask.. no sells. repomaan 20 Apr 2006 9:31 AM EDT
1970 Wishful thinking! tonylai_8 20 Apr 2006 9:29 AM EDT
1969 They are going to have a PR today to announce the repomaan 20 Apr 2006 9:28 AM EDT
1968 what does that mean? quioxte00 20 Apr 2006 9:27 AM EDT
1967 Something seems fishy today...maybe a news leak? mysticobra96 20 Apr 2006 9:26 AM EDT
1966 You will read it soon. skyisthelimit7 20 Apr 2006 9:26 AM EDT
1965 any news? quioxte00 20 Apr 2006 9:24 AM EDT
1964 If we clear .03, it's off to the races. repomaan 20 Apr 2006 9:23 AM EDT
1963 We r up pre market. skyisthelimit7 20 Apr 2006 9:23 AM EDT
1962 looks like we might gap up at the open quioxte00 20 Apr 2006 9:23 AM EDT
1961 We need the text of that interview. repomaan 20 Apr 2006 8:57 AM EDT
1960 ceo interview will be pr'd today wiscivwv 20 Apr 2006 8:54 AM EDT
1959 The 10Q being released... not posted on Yahoo. repomaan 20 Apr 2006 8:50 AM EDT
1958 what news? quioxte00 20 Apr 2006 8:49 AM EDT
1957 We are a 56% buy today. repomaan 20 Apr 2006 8:43 AM EDT
1956 Is anyone a member of this site and could post th repomaan 20 Apr 2006 8:37 AM EDT
1955 topofalltrades, weo1998 20 Apr 2006 8:26 AM EDT
1954 News still hasn't hit Yahoo. repomaan 20 Apr 2006 8:22 AM EDT
1953 We want a r/s and the company does in a couple ye barry70518 20 Apr 2006 7:49 AM EDT
1952 Sounds great,Leonard. tony66666 20 Apr 2006 7:47 AM EDT
1951 Green day,+20%,the forecast is strong. leonard1809 20 Apr 2006 7:35 AM EDT
1950 Where are we heading today, everyone? In the red tony66666 20 Apr 2006 7:26 AM EDT
1949 OT: Duelittle2, Gribbit 20 Apr 2006 6:45 AM EDT
1948 We want a R/S if it leads to a higher exchange... repomaan 20 Apr 2006 6:14 AM EDT
1947 Just to let the Board Know... duelittle2 20 Apr 2006 1:30 AM EDT
1946 barry, you are about as stupid as they come. rockie101 20 Apr 2006 12:08 AM EDT
1945 barry can...he knows everything....lolololo rockie101 20 Apr 2006 12:07 AM EDT
1944 I am wondering where is the profit. I couldn't fi rascalricky 19 Apr 2006 11:59 PM EDT
1943 I am wondering where is the profit. I couldn't fi rascalricky 19 Apr 2006 11:59 PM EDT
1942 Well I liked the modest approach they gave of 20p rascalricky 19 Apr 2006 11:53 PM EDT
1933 so many things could change from now to then ... topofalltrades 19 Apr 2006 11:05 PM EDT
Post new message
1992 posts -- Msg. # Posts per pg 10 per page 20 per page 30 per page 40 per page 50 per page « Prev 60 | Next 60 »
Get powerful streaming charts ... Try LiveCharts™ for free Real-time market information. No software to download. Explore QCharts™ The ultimate trading software for the serious active trader.
45 technical analysis tools!
Quote (del. 15 min.) 10:28 AM ET 0.0270 -0.0020 (-6.90%) Volume: 1,898,677 - - - - - Full quote | LiveChart
Get real-time streaming quotes
My Boardmarks Help Board New - - - - - Add SEVI - - - - -
You haven't added any boardmarks. - - - - - Add or remove boards »
Keyboard shortcuts Pressing these keys is the same as clicking their link equivalents. Note: Netscape users don't have to press enter after the shortcut. Mac users - use the CTRL key. Alt Z [Enter] Previous or Older Alt X [Enter] Next or Newer
Just talked to Mike again...I asked him if and when they will be releasing a pr about the quarterly and the interview w/the ceo. He said they will definetly have a pr, but hes not sure when. So, hang in there guys our time will come. In the mean time our 5/10/15 MA are still climbing. I think the co. will release the info pretty soon, I hope!
IP: Logged |
posted
Wow positive PR ends in 34% decrease in stock value. Some one please reassure a newbie that this is just the MM's playing with my emotions. Us sevi folks have been quiet today, understandably. Thoughts?
IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Wink]](wink.gif)
Acc/ mysticobra96 20 Apr 2006 
