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[August 07, 2014]
ALPHA NETWORK ALLIANCE VENTURES INC. - 10-K/A - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
(Edgar Glimpses Via Acquire Media NewsEdge) RESULTS OF OPERATIONS We generated revenues of $3,000 to a related party during the fiscal year ended December 31, 2012, and generated no revenues for the fiscal year ended December 31 2011, and we have generated a total of $3,000 of revenues since March 24, 2011(inception). Our revenues were derived from consulting services provided to an entity 60% controlled by the brother-in-law of Eleazar Rivera, our sole officer and director.
For the fiscal year ended December 31, 2012, we incurred expenses of $79,137, consisting of general and administrative costs of $69,066, marketing expenses of $7,110 and research and development costs of $2,961. During the fiscal year ended December 31, 2011, we incurred expenses of $171,567, consisting of general and administrative costs of $158,930, and marketing expenses of $12,637.
7 We incurred net losses of $76,137 and $171,567 for the years ended December 31, 2012 and 2011, respectively. Our net loss since inception (March 24, 2011) through December 31, 2012 is $244,704. The following table provides selected financial data about our company for the years ended December 31, 2012 and 2011.
December 31, December 31, Balance Sheet Data 2012 2011 Cash and Cash Equivalents $ 5,308 $ 22,215 Total Assets $ 415,799 $ 457,385 Total Liabilities $ 634,114 $ 618,313 Shareholders' Equity (Deficit) $ (218,315 ) $ (160,928 ) GOING CONCERN Alpha Network Alliance Ventures Inc. is a development stage company and currently has limited operations. Our independent auditor has issued an audit opinion for Alpha Network Alliance Ventures which includes a statement raising substantial doubt as to our ability to continue as a going concern.
LIQUIDITY AND CAPITAL RESOURCES Our cash balance at December 31, 2012 was $5,308 with $634,114 in outstanding liabilities. Total expenditures over the next 12 months are expected to be approximately $3,750,000, in order to complete our 12-month plan of operation, more fully described in our Registration Statement of Securities and Exchange Commission ("SEC") Form S-1, as amended (File No. 333-182596; the Form S-1), declared effective by the SEC on December 20, 2012. If we experience a shortage of funds prior to generating revenues from operations we may utilize funds from our director, who has informally agreed to advance funds to allow us to pay for operating costs, however they have no formal commitment, arrangement or legal obligation to advance or loan funds to us. Management believes our current cash balance will not be sufficient to fund our operations for the next twelve months.
PLAN OF OPERATION Our plan of operations over the 12 month period following successful completion of our offering (the "Offering") registered the Form S-1, declared effective by the SEC on December 20, 2013, is as follows, assuming the sale of 25%, 50%, 75% and 100%, respectively, of the securities offered for sale by the Company in the Form S-1: If 25% of If 50% of If 75% of If 100% of Shares Sold Shares Sold Shares Sold Shares Sold Gross proceeds from this offering ($)937,500 ( $)1,875,000 ($)2,812,500 ($)3,750,000 Product Development OCW (Overseas Contract Workers) Social Networking Site 75,000 150,000 225,000 300,000 Global Karaoke Social Networking Sites 75,000 150,000 225,000 300,000 EBID services 50,000 100,000 150,000 200,000 PC/MAC and Mobile VOIP Provider (All Mobiles Systems) 100,000 200,000 300,000 400,000 Global Social Market Place Platform 25,000 50,000 75,000 100,000 Healthy Aging Social Channel 75,000 150,000 225,000 300,000 Web/graphic design 60,000 120,000 180,000 240,000 Equipment/servers 35,000 70,000 105,000 140,000 VoIP connectivity fees 25,000 50,000 75,000 100,000 Sales/marketing Assistant 75,000 150,000 225,000 300,000 Marketing & Company collateral 125,000 250,000 375,000 500,000 Media Advertising 50,000 100,000 150,000 200,000 Office Lease 20,000 40,000 60,000 80,000 Office Equipment 15,000 30,000 45,000 60,000 Offices Expenses 42,500 85,000 127,500 170,000 Telephone 7,500 15,000 22,500 30,000 Miscellaneous/contingency 37,500 75,000 112,500 150,000 Legal and Accounting 37,500 75,000 112,500 150,000 Transfer Agent 1,500 2,000 2,500 3,000 Contingency 6,000 13,000 20,000 27,000 TOTALS $937,500 $1,875,000 $2,812,500 $3,750,000 8 We currently do not have any arrangements regarding the Offering or following this Offering for further financing and we may not be able to obtain financing when required. Our future is dependent upon our ability to obtain further financing, the successful development of our planned business consulting services, a successful marketing and promotion program, and achieving a profitable level of operations. The issuance of additional equity securities by us could result in a significant dilution in the equity interests of our current stockholders. Obtaining commercial loans, assuming those loans would be available, will increase our liabilities and future cash commitments. There are no assurances that we will be able to obtain further funds required for our continued operations. Even if additional financing is available, it may not be available on terms we find favorable. At this time, there are no anticipated sources of additional funds in place. Failure to secure the needed additional financing will have an adverse effect on our ability to remain in business.
OFF BALANCE SHEET TRANSACTIONS We have had no off balance sheet transactions.
OFF-BALANCE SHEET ARRANGEMENTS We have no off-balance sheet arrangements.
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