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 3. Note 3. | 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 sixnine months ended DecemberMarch 31, 20142015 the Company received $19,000 from Acculogic, Inc. as repayments against the advances and accrued interest due.
Item 2. | Management's Discussion and Analysis of Financial Condition and Results of Operations |
The Company is at present dormant and is looking for new opportunities.
The cash needs of the Company will be funded by collections from amount due from its affiliate.
Item 3. | Quantitative and Qualitative Disclosures about Market Risk. |
N/A
Our management, comprising the Chief Executive Officer and 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 not effective considering the fact that the Company, being dormant, has only one person on staff, the Chief Financial Officer/Principal Accounting Officer, to (1) handle all accounting transactions (consisting of primarily collecting funds from a related party and paying all expenses, including fees to this same officer); (2) reconcile the bank account, and (3) prepare all financial statement disclosures. The above duties have no supervision or review to insure proper segregation of duties and review of disclosures.
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 DecemberMarch 31, 20142015 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 has concluded that our internal control over financial reporting was not effective as of DecemberMarch 31, 20142015 considering the fact that the Company, being dormant, has only one person on staff to handle all duties of the Company.
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.
PART II
OTHER INFORMATION
None
None
Item 2. | Unregistered Sale of Equity Securities and Use of 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
| a. | 31.1Certification 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. | 32 Certification 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 |
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)
| INTERDYNE COMPANY |
| | (Registrant) |
| | |
Date: February 2,May 4, 2015 | By: | /s/Sun Tze Whang |
Sun Tze Whang
Director /Chief Executive Officer
| Sun Tze Whang |
Director /Chief Executive Officer |
| | |
| By: | /s/Kit H. Tan |
| Kit H. Tan |
Director /Chief Financial Officer/Principal Accounting Officer |
Kit H. Tan
Director /Chief Financial Officer/Principal Accounting Officer