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ASIA PROPERTIES INC - 10-Q - Management's Discussion and Analysis of Financial Condition and Results of Operation.

August 25, 2014

Asia Properties, Inc. was originally established to seek opportunities to invest in real estate and develop resorts in South East Asia. The Company has on July 1, 2011 restructured itself into a junior mining exploration company.

At the moment, it intends to deploy Asian based capital to develop and acquire mining assets in North America and other favorable mining jurisdictions.

The Company is highly leveraged and expects to be able to capitalize on suitable possibilities when identified.

Limited Operating History; Need for Additional Capital

There is no historical financial information about us upon which to base an evaluation of our performance. We have no revenue generating assets. We cannot guarantee we will be successful in our business operations. Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources and possible cost overruns due to price and cost increases in services.

We will require additional financing to cover our costs that we expect to incur over the next twelve months. We believe that debt financing will not be an alternative for funding our operations as we do not have tangible assets to secure any debt financing. We anticipate that additional funding will be in the form of equity financing from the sale of our common stock. However, we cannot provide any assurance that we will be able to raise sufficient funding from the sale of our common stock to fund our plan of operations. In the absence of such financing, we will not be able to continue and our business plan will fail.

Results of Operations Revenues

We have not generated any revenues from our operations during the three-month period ended March 31, 2012 or during last two years.


We incurred general and administrative expenses of $16,165 for the three-month period ended March 31, 2012, as compared to $17,957 for the same period in 2011, a decrease of $1,792 or 9%.

Our management fees remained the same at $15,000 for the three-months ended March 31, 2012 as for last year.

We did not incur any consulting or professional fees during either quarter.

Liquidity and Capital Resources

As at March 31, 2012, we had cash of $893.

Cash Used in Operating Activities

Net cash used in operating activities was $9,262 for the three-month period ended March 31, 2012. For the same period in 2011, there was net cash provided of $9,840. For the period from April 6, 1998 (inception) to March 31, 2012, net cash used in operating activities was $1,037.204.

Cash Used in Investing Activities

We did not incur any investment costs in the three-month period ended March 31, 2012 or March 31, 2011. Net cash used in investing activities was $427,954 for the period from April 6, 1998 (inception) to March 31, 2012.

Cash from Financing Activities

We have funded our business to date primarily from sales of our common stock but did not sell any common stock during the three months ended March 31, 2012. There are no assurances that we will be able to achieve further sales of our common stock or any other form of additional financing. If we are unable to achieve the financing necessary to continue our plan of operations, then we will not be able to continue our operations and our business will fail.

4 Going Concern

We are a development stage company. In a development stage company, management devotes most of its activities to developing a market for its products and services. Planned principal activities have begun, but we have not generated revenues to date.

Future Financing

We anticipate continuing to rely on equity sales of our common stock in order to continue to fund our business operations. Issuances of additional shares will result in dilution to our existing shareholders. There is no assurance that we will achieve any additional sales of our equity securities or arrange for debt or other financing to fund our planned operations.

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to stockholders.

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Source: Edgar Glimpses

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