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QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
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Delaware
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43-1889792
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(State
of Incorporation)
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(I.R.S.
Employer Identification No.)
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7682
N Federal Highway #1Boca
Raton, FL
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33487
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(Address
of Principal Executive Offices)
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(ZIP
Code)
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.Large Accelerated Filer
o
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Accelerated
Filer o
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Non-Accelerated
Filer o (Do
not check if a smaller reporting company)
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Smaller
Reporting Company þ
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PART
I FINANCIAL INFORMATION
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Item
1. Financial Statements
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Condensed
Balance Sheets (Unaudited) at September 30, 2009 and December 31,
2008
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3
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Condensed
Statements of Operations (Unaudited) for the three months ended September
30, 2009
and
2008 and
the period
from July 1, 2008 to September 30, 2009
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4
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Condensed Statements of Stockholders' Equity (Unaudited) for the three
months ended September 30, 2009
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5
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Condensed
Statements of Cash Flows (Unaudited) for the three months ended September
30, 2009
and
2008 and
the period
from July 1, 2008 to September 30, 2009
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6
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Notes
to the Condensed Financial Statements
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7
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Item
2. Management’s Discussion and Analysis and Plan of
Operation
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10
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Item
3. Quantitative and Qualitative Disclosures About Market
Risk
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11
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Item
4. Controls and Procedures
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11
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PART
II OTHER INFORMATION
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Item
1. Legal Proceedings
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12
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Item
1A. Risk Factors
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12
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Item
2. Recent Sales of Unregistered Equity Securities and Use of
Proceeds
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12
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Item
3. Defaults Upon Senior Securities
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12
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Item
4. Submission of Matters to a Vote of Security Holders
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12
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12 | |
Item
5. Other Information
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12
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Item
6. Exhibits
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12
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Signatures
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13
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VERACITY
MANAGEMENT GLOBAL, INC.
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||||||||
BALANCE
SHEETS
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||||||||
(UNAUDITED)
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||||||||
(A
Development Stage Company)
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||||||||
September
30,
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June
30,
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|||||||
ASSETS
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2009
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2009
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||||||
Current
Assets
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$ | - | $ | - | ||||
Total
Current Assets
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- | - | ||||||
Total
Assets
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$ | - | $ | - | ||||
LIABILITIES AND STOCKHOLDERS'
DEFICIT
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||||||||
Current
Liabilities
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||||||||
Accounts
Payable
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$ | 6,924 | $ | 3,524 | ||||
Accounts
Payable - Related party
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57,055 | 57,055 | ||||||
Total
Current Liabilities
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63,979 | 60,579 | ||||||
Total
Non - Current Liabilities
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- | - | ||||||
Total
Liabilities
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63,979 | 60,579 | ||||||
Stockholders'
Deficit
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||||||||
Preferred
Stock, $.001 par value, 5,000,000 shares
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||||||||
authrized,
0 shares issued and outstanding
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- | - | ||||||
Common
Stock, $.001 par value, 3,500,000,000 shares
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||||||||
authorized,
16,643,057 and 16,643,057 shares issued and
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||||||||
outstanding
at September 30, 2009 and June 30, 2008 respectively
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16,635 | 16,635 | ||||||
Additional
paid-in capital
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4,052,836 | 4,052,836 | ||||||
Accumulated
deficit during the development stage
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(4,040,470 | ) | (4,040,470 | ) | ||||
Accumulated
deficit during the development stage
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(92,980 | ) | (89,580 | ) | ||||
Total
Stockholders' Deficit
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(63,979 | ) | (60,579 | ) | ||||
Total
Liabilities and Stockholders' Defecit
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$ | - | $ | - |
2009
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2008
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Period
re-entered
development
stage
(July
1, 2008) to
September
30, 2009
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||||||||||
Revenues
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$ | - | $ | - | $ | - | ||||||
Cost
of Sales
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- | - | - | |||||||||
Gross
Profit
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- | - | - | |||||||||
Expenses
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||||||||||||
Administrative
Expenses
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3,400 | 23,333 | 42,980 | |||||||||
General
Expenses
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- | 50,000 | 50,000 | |||||||||
Total
Expenses
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3,400 | 73,333 | 92,980 | |||||||||
Net
Income (Loss)
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$ | (3,400 | ) | $ | (73,333 | ) | $ | (92,980 | ) | |||
Basic
and Diluted Net Loss per Share
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$ | (0.005 | ) | $ | (0.005 | ) | ||||||
Weighted
Average Shares
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16,643,057 | 14,730,969 |
Common Stock | ||||||||||||||||||||||||
Shares
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Amount
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Additional
Paid-in
Capital
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Accumulated
Deficit
during developmnet
stage
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Accumulated
Deficit
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Total
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|||||||||||||||||||
Balance
at June 30, 2009
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16,643,057 | $ | 16,635 | $ | 4,052,836 | $ | (89,580 | ) | $ | (4,040,470 | ) | $ | (60,579 | ) | ||||||||||
Net
loss
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(3,400 | ) | (3,400 | ) | ||||||||||||||||||||
Balance
at September 30, 2009
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16,643,057 | $ | 16,635 | $ | 4,052,836 | $ | (92,980 | ) | $ | (4,040,470 | ) | $ | (63,979 | ) |
Three
Months
Ended,
September
30,
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Three
Months
Ended,
September
30,
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Period
re-entered development stage
(July 1, 2008) to
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2009
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2008
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September 30, 2009 | ||||||||||
CASH
FLOWS FROM OPERATING ACTIVITIES
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Net
loss from continuing operations
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$ | (3,400 | ) | $ | (73,233 | ) | $ | (92,980 | ) | |||
Adjustments
to reconcile net loss to net cash
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||||||||||||
used
in operating activities:
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Shares
issued for services:
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- | 50,000 | 50,000 | |||||||||
Increase
(decrease) in:
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||||||||||||
Accounts
Receivable
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- | (7,379 | ) | (7,379 | ) | |||||||
Accounts
Payable
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3,400 | 23,233 | 42,980 | |||||||||
Net
cash used in operating activities
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- | (7,379 | ) | (7,379 | ) | |||||||
CASH
FLOWS FROM FINANCING ACTIVITIES
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||||||||||||
Proceeds
from sale of common stock
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- | - | - | |||||||||
Net
cash provided by financing activities
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- | - | - | |||||||||
NET
INCREASE (DECREASE) IN CASH
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- | (7,379 | ) | (7,379 | ) | |||||||
CASH
- BEGINNING OF PERIOD
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- | 7,379 | 7,379 | |||||||||
CASH
- END OF PERIOD
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$ | - | $ | - | $ | - | ||||||
Supplemental
Disclosure of Non-Cash Disposal of Assets related to Discontinued
Operations
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||||||||||||
Accounts
Receivable
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$ | - | $ | 169,255 | $ | - | ||||||
Fixed
Assets
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- | 5,041 | - | |||||||||
Other
Assets
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- | 21,771 | - | |||||||||
Accounts
Payable
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- | (746,966 | ) | - | ||||||||
Accrued
Expenses
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- | (79,512 | ) | - | ||||||||
Note
Payable
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- | (294,798 | ) | - | ||||||||
Common
Stock
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- | (20,108 | ) | - | ||||||||
Additional
Paid in Capital
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- | 945,317 | - | |||||||||
$ | - | $ | - | $ | - |
September 30, 2009
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June 30, 2009
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Donald
W Prosser (Director)
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$ | 51,055 | $ | 51,055 | ||||
Gregory
Paige (CEO & Director)
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6,000 | 6,000 | ||||||
Total
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$ | 57,055 | $ | 57,055 |
Exhibit
No.
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Description
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31.1
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Certification
of CEO pursuant to Rule 13a-14(a) or 15d-14(a) of the Exchange Act
pursuant to Section 302 of the Sarbanes-Oxley Act of
2002.
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31.2
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Certification
of CFO pursuant to Rule 13a-14(a) or 15d-14(a) of the Exchange Act
pursuant to Section 302 of the Sarbanes-Oxley Act of
2002.
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32.1
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Certification
of CEO pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section
906 of the Sarbanes-Oxley Act of 2002.
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32.2
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Certification
of CFO pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section
906 of the Sarbanes-Oxley Act of
2002.
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/s/Gregory L. Paige
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Gregory
L. Paige
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CEO
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Dated:
November 20, 2009
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/s/ Mark L. Baker
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Mark
L. Baker
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CFO
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Dated:
November 20, 2009
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