ACCELERATED ACQUISITION XVII, INC. - 10-Q - Management's Discussion and Analysis of Financial Condition and Results of Operations.
(Edgar Glimpses Via Acquire Media NewsEdge) Accelerated Acquisitions XVII, Inc. ("we", "our", "us" or the "Company") was
organized as a vehicle to investigate and, if such investigation warrants,
acquire a target company or business seeking the perceived advantages of being a
publicly held corporation. Our principal business objective for the next 12
months and beyond such time will be to achieve long-term growth potential
through a combination with a business rather than immediate, short-term
earnings. The Company will not restrict our potential candidate target companies
to any specific business, industry or geographical location and, thus, may
acquire any type of business.
Results of Operations
For the three months ending December 31, 2013, the Company had no revenues and
incurred general and administrative expenses of $0.
For the period from inception (October 21, 2011) through December 31, 2013, the
Company had no activities that produced revenues from operations and had a net
loss of $(9,365), due to legal, accounting, audit and other professional service
fees incurred in relation to the formation of the Company and the filing of the
Company's Registration Statement on Form 10 filed in November 2011 and other
SEC-related compliance matters.
Liquidity and Capital Resources
As of December 31, 2013, the Company had assets deficit equal to $(40) and had
no current liabilities.
The following is a summary of the Company's cash flows from operating,
investing, and financing activities:
For the Cumulative Period from Inception (October 21, 2011) through December 31,
Operating activities $ (9,365)
Investing activities -
Financing activities $ 9,365
Net effect on cash $ -
The Company has nominal assets and has generated no revenues since inception.
The Company is also dependent upon the receipt of capital investment or other
financing to fund its ongoing operations and to execute its business plan of
seeking a combination with a private operating company. If continued funding and
capital resources are unavailable at reasonable terms, the Company may not be
able to implement its plan of operations
Plan of Operations
The Company currently does not engage in any business activities that provide
cash flow. The costs of investigating and analyzing business combinations for
the next 12 months and beyond such time will be paid with money in our treasury.
During the next twelve months we anticipate incurring costs related to:
(i) filing of reports under the Securities Exchange Act of
1934, as amended (the "Exchange Act"), and
(ii) consummating an acquisition.
We believe we will be able to meet these costs through use of funds in our
treasury, through deferral of fees by certain service providers and additional
amounts, as necessary, to be loaned to or invested in us by our sole
stockholder, management or other investors.
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--------------------------------------------------------------------------------The Company may consider a business which has recently commenced operations, is
a developing company in need of additional funds for expansion into new products
or markets, is seeking to develop a new product or service, or is an established
business which may be experiencing financial or operating difficulties and is in
need of additional capital. In the alternative, a business combination may
involve the acquisition of, or merger with, a company which does not need
substantial additional capital, but which desires to establish a public trading
market for its shares, while avoiding, among other things, the time delays,
significant expense, and loss of voting control which may occur in a public
Since our Registration Statement on Form 10SB became effective, our officers and
sole director have had limited contact or discussions with representatives of
other entities regarding a business combination with us. Any target business
that is selected may be a financially unstable company or an entity in its early
stages of development or growth, including entities without established records
of sales or earnings. In that event, we will be subject to numerous risks
inherent in the business and operations of financially unstable and early stage
or potential emerging growth companies. In addition, we may effect a business
combination with an entity in an industry characterized by a high level of risk,
and, although our management will endeavor to evaluate the risks inherent in a
particular target business, there can be no assurance that we will properly
ascertain or assess all significant risks.
The Company anticipates that the selection of a business combination will be
complex and extremely risky. Because of general economic conditions, rapid
technological advances being made in some industries and shortages of available
capital, our management believes that there are numerous firms seeking even the
limited additional capital which we will have and/or the perceived benefits of
becoming a publicly traded corporation. Such perceived benefits of becoming a
publicly traded corporation include, among other things, facilitating or
improving the terms on which additional equity financing may be obtained,
providing liquidity for the principals of and investors in a business, creating
a means for providing incentive stock options or similar benefits to key
employees, and offering greater flexibility in structuring acquisitions, joint
ventures and the like through the issuance of stock. Potentially available
business combinations may occur in many different industries and at various
stages of development, all of which will make the task of comparative
investigation and analysis of such business opportunities extremely difficult
Off-Balance Sheet Arrangements
The Company does not have any off-balance sheet arrangements that have or are
reasonably likely to have a current or future effect on the Company's financial
condition, changes in financial condition, revenues or expenses, results of
operations, liquidity, capital expenditures or capital resources that is
material to investors.
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