Results of Operations We have recently exited our development stage and have only generated $70,000 in revenue to date. We incurred operating expenses of $837,653 and $74,203 for the year ended September 30, 2013 and nine months ended September 30, 2012 , respectively. These expenses consisted of general operating expenses and professional fees incurred in connection with the day to day operation of our business. Our net loss from inception through September 30, 2013 was $857,012 . Our auditors have expressed their doubt about our ability to continue as a going concern unless we are able to generate profitable operations. Liquidity and Capital Resources Our cash balance at September 30, 2013 was $30,915 . Management does not believe our cash balance will be enough to fund operations for the next twelve months, and as such the Company is looking to raise additional funds of $1,000,000 through either borrowing or equity raises including a private placement until we begin to generate more significant revenue from operations. Cash provided by financing activities for the year ended September 30, 2013 was $344,255 , resulting primarily from the sale of shares of common stock for $311,755 . The Company has two short-term notes in amounts of $100,000 due March 16, 2014 and $100,000 due December 31, 2013 . The principal and interest payments for the two notes are accrued on a monthly basis. As of the date of this filing, the note payable due on December 31, 2013 has not been paid and the Company is in negotiations with the note holder to extend the term of the note and implement a monthly payment plan to pay down the balance. Off-Balance Sheet Arrangements We have no off-balance sheet arrangements. American Laser Healthcare Corporation (formerly Amberwood Acquisition Corporation , "ALH" or the "Company") was incorporated on September 21, 2011 under the laws of the State of Delaware to engage in any lawful corporate undertaking, including, but not limited to, selected mergers and acquisitions. The Company registered its common stock on a Form 10 registration statement filed pursuant to the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 12(g) thereof. The Company files with the Securities and Exchange Commission periodic and current reports under Rule 13(a) of the Exchange Act, including quarterly reports on Form 10-Q and annual reports Form 10-K. Current Developments On April 28, 2012 , the Company effected a 5-for-1 stock split of its issued and outstanding common stock. The then 1,500,000 shares of common stock outstanding were converted to 7,500,000 shares of common stock and the par value of each share of common stock was adjusted from $0.0001 per share to $0.00002 per share. In addition, on April 28, 2012 , the Board of Directors approved and adopted a change in the Company's fiscal year end from December 31 to September 30 of each year. On April 11, 2013 , the Company effected a 1-for-10 reverse stock split of its issued and outstanding common stock. The then 92,135,00 shares of common stock outstanding were converted to 9,213,500 shares of common stock and the par value of each share of common stock was adjusted from $0.00002 per share to $0.0002 per share. 8 The Company intends to improve health and wellness by providing access to innovative diagnostics and treatment for patients with pain and other common medical conditions. The Company plans to do this by creating and managing a profitable medical device product development business coupled with a healthcare service business that provides a protocol and pathway for the adoption and implementation of Low Level Light Therapy (LLLT). The Company has successfully acquired certain assets from a private LLLT company having an approved device and methodology patent, and insurance reimbursement code approvals on July 23, 2012 with the issuance of 75 million shares of ALH common stock. The patented devise also had US FDA cleared through Amest Corporation who owns the FDA clearance with 510k registration K030275. The asset included all Intellectual Property Rights of US Patent number 7993381 as well as all related WIPO filing and all versions of the MacBeam BioEnergy Light Therapy System referred to in the 510(k) application numbered K030275 by Amest Corporation . There are two versions of the MB Bioenergy Light Therapy Systems having FDA clearance to treat sport injuries and manage pain. The prescription-only medical device also has associated insurance reimbursement codes for these uses. MB Bioenergy Light Therapy Systems are developed based on the BioEnelognen (BELG) methodology, a patented approach to the use of LLLT. By pinpointing the therapy location, varying the wavelength sent by the device and the pulses of light transmitted each second, the BELG method has found to be useful in treating many disorders. It is the unique combination of wavelength, pulse and therapy time that allows LLLT to be used for many varied medical applications by varying the depth of energy penetration, the amount of photonic energy delivered and the time span of total energy delivery. This methodology is the heart of the MB Bioenergy Light Therapy Systems advantage and not employed by any competitor. The Company intends to apply for additional United States and international patents, broader FDA clearances and reimbursement codes. The Company anticipates that it may work with one or more major research institutes in submitting applications for federal grants and in research and development to further explore the healing mechanisms associated with the treatment methodologies. On September 25, 2013 , the Company entered into a two year exclusive distributor agreement with an unrelated third party for the United States territory. Under the terms of the agreement, the distributor has a minimum purchase commitment of $2 million for products to be delivered in the first year of the agreement. The Company had $70,000 in sales through September 30, 2013 . The Company's independent auditors have issued a report raising substantial doubt about the Company's ability to continue as a going concern. 9 Critical Accounting Policies Adopted In June 2011 , the FASB issued amended accounting guidance on the presentation of comprehensive income. The amended guidance requires that all non-owner changes in stockholders' equity be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements. The provisions were effective for the Company's financial statements for the fiscal year beginning October 1, 2012 and the Company elected to present net income and other comprehensive income in two separate but consecutive statements. The adoption of the amended guidance did not have a significant impact on the Company's financial statements and related disclosures. In December 2011 , the FASB issued an amendment to accounting guidance on the presentation of offsetting of derivatives, and financial assets and liabilities. The amended guidance requires quantitative disclosures regarding the gross amounts and their location within the statement of financial position. The provisions are effective for the Company's financial statements for the fiscal year beginning October 1, 2013 . The adoption of the amended guidance will not have a significant impact on the Company's financial statements and related disclosures.
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