UNITED STATES SECURITIES AND EXCHANGE COMMISSION 
WASHINGTON, D.C.  20549
FORM 10-Q
 
x
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30,December 31, 2012

OR

oTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from : Not applicable

Commission file number 0-4454

INTERDYNE COMPANY
 (Exact name of registrant as specified in its charter)

CALIFORNIA   95-2563023
(State or other jurisdiction of incorporation or organization)  (I.R.S.  Employer Identification No.)
 
26 Briarwood, Irvine, California 92604
(Address of principal executive offices) (Zip Code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities 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. Yes x No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer      o
Accelerated filero
Non-accelerated filer        o
Smaller reporting companyx
(do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yesx    No o

As of September 30,December 31, 2012, there were 39,999,942 shares of Common Stock, no par value, issued and outstanding.

Exhibit Index Page No.:  8

 
 
 

INTERDYNE COMPANY

FORM 10-Q

INDEX

 Page
PART I.   FINANCIAL INFORMATION 
   
Item 1.Financial Statements 
   
 
Condensed Balance Sheets as of September 30,December 31, 2012 and June 30, 2012
3
   
 
Condensed Statements of Operations for the QuartersQuarter and Six Months ended September 30,December 31, 2012 and September 30,December 31, 2011
4
   
 
Condensed Statements of Cash Flows for the QuartersQuarter and Six Months ended September 30,December 31, 2012 and September 30,December 31, 2011
5
   
 
Notes to Financial Statements
6
   
Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
6
   
Item 3.
Controls and Procedures
6
   
PART II.  OTHER INFORMATION 
   
Item 6.
Exhibits
8
   
Signatures
9

 
2

PART I. FINANCIAL INFORMATION
 
Item 1.Financial Statements

INTERDYNE COMPANY
CONDENSED BALANCE SHEETSHEETS

 9/30/2012  6/30/2012  12/31/2012  6/30/2012 
 (Unaudited)  (Audited)  (Unaudited)  (Audited) 
            
ASSETS            
CURRENT ASSETS            
Cash $10,842  $3,264  $3,607  $3,264 
Due from affiliate  226,721   236,796   225,539   236,796 
      -         
TOTAL CURRENT ASSETS $237,563  $240,060  $229,146  $240,060 
                
LIABILITIES AND STOCKHOLDERS' EQUITY                
CURRENT LIABILITIES                
Accrued professional fees $11,565  $9,250  $5,300  $9,250 
Accrued management fees to related party  20,000   21,500   21,500   21,500 
Other accrued expenses  2,390   2,365   1,286   2,365 
                
TOTAL CURRENT LIABILITIES  33,955   33,115   28,086   33,115 
                
STOCKHOLDERS' EQUITY                
Preferred stock, no par value, authorized 50,000,000 shares, no shares outstanding          -   - 
Common stock, no par value, 100,000,000 shares authorized, 39,999,942 shares issued and to be issued  500,000   500,000 
Common stock, no par value, 100,000,000 shares authorized, 39,999,942 shares issued and outstanding  500,000   500,000 
Accumulated deficit  (296,392)  (293,055)  (298,940)  (293,055)
                
TOTAL STOCKHOLDERS' EQUITY  203,608   206,945   201,060   206,945 
                
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $237,563  $240,060  $229,146  $240,060 

The accompanying notes are an integral part of the financial statements.

 
3
 
INTERDYNE COMPANYCOMPANY
CONDENSED STATEMENTS OF OPERATIONS

  Quarter Ended 
  9/30/2012  9/30/2011 
  (Unaudited)  (Unaudited) 
       
EXPENSES      
Professional fees $3,565  $3,000 
General and administrative  2,397   2,737 
Management Fees  1,500   1,500 
         
   7,462   7,237 
OTHER INCOME - Interest from affiliate  4,925   5,064 
         
GROSS (LOSS)/PROFIT BEFORE TAX  (2,537)  (2,173)
         
INCOME TAXES  (800)  (800)
         
NET LOSS $(3,337) $(2,973)
         
NET LOSS PER SHARE $(0.0001) $(0.0001)

The accompanying notes are an integral part of the financial statements.

4
 
INTERDYNE COMPANY
  Quarter Ended  Six Months Ended 
  12/31/2012  12/31/2011  12/31/2012  12/31/2011 
  (Unaudited)  (Unaudited)  (Unaudited)  (Unaudited) 
             
EXPENSES            
Professional fees $3,500  $3,000  $7,065  $6,000 
General and administrative  2,366   2,780   4,763   5,518 
Management Fees  1,500   1,500   3,000   3,000 
   7,366   7,280   14,828   14,518 
OTHER INCOME - interest from affiliate  4,818   5,027   9,743   10,091 
                 
GROSS (LOSS)/PROFIT BEFORE TAXATION  (2,548)  (2,253)  (5,085)  (4,427)
                 
TAXATION  -   -   (800)  (800)
                 
NET LOSS AFTER TAXATION $(2,548) $(2,253) $(5,885) $(5,227)
                 
NET LOSS PER SHARE $(0.0001) $(0.0001) $(0.0001) $(0.0001)
CONDENSED STATEMENTS OF CASH FLOWS

  Quarter Ended 
  9/30/2012  9/30/2011 
  (Unaudited)  (Unaudited) 
       
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss $(3,337) $(2,973)
         
Adjustments to reconcile net loss to net cash generated from/(used in) operating activities        
Changes In operating assets and liabilites        
Accrued interest  (4,925)  (5,064)
Accrued expense  840   3,049 
         
Net cash used by operating activities  (7,422)  (4,988)
         
CASH FLOWS FROM FINANCING ACTIVITIES        
Cash received from affiliate  15,000   0 
         
Net cash provided by financing activities  15,000   0 
         
NET INCREASE/(DECREASE) IN CASH  7,578   (4,988)
         
CASH, BEGINNING OF PERIOD  3,264   9,265 
         
CASH, END OF PERIOD $10,842  $4,277 

The accompanying notes are an integral part of the financial statements.
 
 
54
 
INTERDYNE COMPANY
CONDENSED STATEMENTS OF CASH FLOWS
  Six Months Ended 
  12/31/2012  12/31/2011 
  (Unaudited)  (Unaudited) 
       
CASH FLOWS FROM OPERATING ACTIVITIES      
       
Net loss $(5,885) $(5,227)
         
Adjustments to reconcile net loss to net cash generated from/(used in) operating activities :        
Increase/decrease resulting from changes in :        
Accrued interest income  (9,743)  (10,091)
Accrued expense  (5,029)  7,270 
         
Net cash used by operating activities  (20,657)  (8,048)
         
CASH FLOWS FROM FINANCING ACTIVITIES        
Cash received from affiliate  21,000   8,000 
         
Net cash provided by financing activities  21,000   8,000 
         
NET INCREASE (DECREASE) IN CASH  343   (48)
         
CASH, BEGINNING OF PERIOD  3,264   9,265 
         
CASH, END OF PERIOD $3,607  $9,217 
The accompanying notes are an integral part of the financial statements.
5
INTERDYNE  COMPANY

NOTENOTES TO CONDENSED FINANCIAL STATEMENTS

Note 1.   Interim Financial Statements

The accompanying condensed financial statements are unaudited, but in the opinion of the management of the Company, contain all adjustments, consisting of only normal recurring accruals, necessary to present fairly the financial position at September 30,as of December 31, 2012 and the results of operations for the quartersthree and six months ended September 30,December 31, 2012 and 2011 and changes in cash flows for the quarterssix months ended September 30,December 31, 2012 and 2011.  Certain information and footnote disclosures normally included in financial statements that have been prepared in accordance with accounting principles generally accepted in the United Statesaccounting principles have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission, although management of the Company believes that the disclosures contained in these financial statements are adequate to make the information presented therein not misleading.  For further information, refer to the financial statements and footnotes thereto included in the Company's Annual Report in Form 10-K as of June 30, 2012, as filed with the Securities and Exchange Commission.  The results of operations for the quarter ended September 30,December 31, 2012 are not necessarily indicative of the results of operations to be expected for the full fiscal year ending June 30, 2013.

Note 2.   Changes in Significant Accounting Policies

There are no newly issued accounting pronouncements that the Company expects to have a material effect on the financial statements and there have been no changes in our significant accounting policies.

Note 33.   Due from affiliate

In prior years, the Company made advances to Acculogic, Inc., an affiliated company through common ownership and management.  The advances bear interest at 8.5% per annum, payable on demand.  The balance including interest is guaranteed by another affiliated company.  During the quarter ending September 30,three and six months ended December 31, 2012 the Company received $15,000 on the receivable$6,000 and $21,000, respectively from Acculogic, Inc. as repayments against the advances and accrued interest due.

Item 2.
Management's DiscussionDiscussion and Analysis of Financial Condition and Results of Operations

The Company is at present dormant and is looking for new opportunity.opportunities.

The cash needs of the Company will be funded by collections from amount due from its affiliate.

Item 33. 
QuantitativeQuantitative and Qualitative Disclosures about Market Risk
Risk.

N/A

Item 4.
Controls
Controls and Procedures

Our management, comprising the Chief Executive Officer and the Chief Financial Officer/Principal Accounting Officer, is responsible for establishing and maintaining disclosure controls and procedures for the Company.  It has designed such disclosure controls and procedures to ensure that material information is made known to it, particularly during the period in which this report was prepared.

 
As of the end of the period covered by this report, our management carried out an evaluation of the effectiveness of the design and operation of our 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 (or Exchange Act)).  Based on this evaluation, as of the end of the period covered by this report, our management has concluded that our disclosure controls and procedures are effective considering the fact that the Company is dormant.

Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Exchange Act Rule 13a-15(f).  Our management conducted an evaluation of the effectiveness of our internal control over financial reporting as of September 30,December 31, 2012 based on the criteria set forth in Internal Control - Integrated Framework issued by the Committee of Sponsoring Organization of the Treadway Commission.  Based on this evaluation, our management concluded that our internal control over financial reporting was effective as of September 30,December 31, 2012 considering the fact that the Company is dormant.

Our independent auditors have not audited and are not required to audit this assessment of our internal control over financial reporting for the period covered by this report.

During our most recent fiscal quarter, there has not occurred any change in our internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.
 
 
7
 
PART II. II
OTHER INFORMATION

Item 1.Legal Proceedings

None

Item 1A.Risk Factors.

None

Item 2.Unregistered Sale of Equity Securities and Use of Proceeds.Proceeds..

None

Item 3.
Defaults upon Senior Securities.

None

Item 4.
Submission of Matters to a Vote of Security Holders.

None.

Item 5.
Other Information.

None

Item 6.
Exhibits
Exhibits

 a.
31.1 Certification of the Company's Chief Executive Officer, Sun Tze Whang, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

 b.
31.2 Certification of the Company's Chief Financial Officer/Principal Accounting Officer, Kit H. Tan, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

 c.
32Certification of the Company's Chief Executive Officer and Chief Financial Officer/Principal Accounting Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

 d.101.INSXBRL Instance Document

 e.101.SCHXBRL Taxonomy Extension Schema Document

 f.101.CALXBRL Taxonomy Extension Calculation Linkbase Document

 g.101.LABXBRL Taxonomy Extension Label Linkbase Document

 h.101.PREXBRL Taxonomy Extension Presentation Linkbase Document

 
8

SIGSIGNATNATURESURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 INTERDYNE COMPANY
 (Registrant)
  
Date : October 31, 2012
Date: February 1, 2013
By :   /s/Sun Tze Whang
 Sun Tze Whang
 Director /Chief Executive Officer
  
 
By :   /s/Kit H. Tan
    Kit H. Tan
 Director /Chief Financial Officer/Principal Accounting Officer
 
 
9