[X]
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QUARTERLY
REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
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[ ]
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TRANSITION
REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
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Nevada
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63-1205304
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(State
or other jurisdiction
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(IRS
Employer
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of
Incorporation)
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Identification
Number)
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2038
Corte del Nogal, Suite 110
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Carlsbad,
California 92011
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(Address
of principal executive offices)
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760-804-8844
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(Issuer’s
Telephone Number)
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COCONNECT,
INC
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BALANCE
SHEETS
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June
30,
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December
31,
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2008
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2007
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||||
ASSETS
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(unaudited)
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Current
assets
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|||||
Cash
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$
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-
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-
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||
Total
current assets
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-
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-
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TOTAL
ASSETS
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$
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0
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0
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LIABILITIES
AND STOCKHOLDERS' DEFICIT
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Current
liabilities
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Accounts
payable
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$
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34,040
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34,040
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Convertible
Note Payable
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$
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55,000
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54,813
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Total
current liabilities
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89,040
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88,853
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TOTAL
LIABILITIES
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$
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89,040
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88,853
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STOCKHOLDERS'
DEFICIT
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Common
stock, 150,000,000 shares authorized, $0.001 par value
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149,873,400
and 149,873,400 shares issued and outstanding
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as
of June 30, 2008 and December 31, 2007 respectively.
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$
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149,873
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149,873
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Additional
paid-in capital
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$
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11,200,967
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11,200,967
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Deficit
accumulated during the development stage
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$
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(11,439,880)
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(11,439,693)
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TOTAL
STOCKHOLDERS' DEFICIT
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(89,039)
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(88,853)
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TOTAL
LIABILITIES AND STOCKHOLDERS' DEFICIT
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$
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0
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0
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COCONNECT,
INC
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STATEMENTS
OF OPERATIONS
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For
the Period
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For
the Period
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Three
months ended June 30,
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Six
months ended June 30,
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2008
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2007
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2008
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2007
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(unaudited)
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(unaudited)
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Revenues
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Sales
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$
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-
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$
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-
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$
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-
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$
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-
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Total
revenues
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-
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-
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-
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-
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Expenses
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Consulting
Expenses
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-
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-
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-
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525,000
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Depreciation
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-
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-
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-
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734
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General
and administrative
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-
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-
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Total
operating expenses
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-
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-
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-
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525,734
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Loss
from operations
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-
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-
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-
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(525,734)
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Other
income (expense)
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Interest
expense
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-
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(1,633)
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(187)
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(9,311)
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Total
other income (expense)
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-
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(1,633)
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(187)
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(9,311)
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Net
Loss before Income Tax
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-
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(1,633)
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(187)
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(535,045)
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Income
Tax
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-
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-
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NET
LOSS
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$
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-
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$
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(1,633)
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(187)
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$
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(535,045)
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Basic
and diluted loss
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per
common share
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$
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-
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$
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(0.00)
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(0.00)
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$
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(0.01)
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Weighted
average common
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shares
outstanding
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149,873,400
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83,407,005
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149,873,400
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80,998,165
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COCONNECT,
INC
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STATEMENTS
OF CASH FLOWS
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For
the Period
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Six
months ended June 30,
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2008
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2007
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(unaudited)
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CASH
FLOWS FROM OPERATING ACTIVITIES
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Net
Loss
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$
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(187)
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$
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(535,045)
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Adjustments
to reconcile net loss to net
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cash
used in operating activities:
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Stock
issued for services
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-
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525,000
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Notes
issued for services
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187
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Depreciation
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-
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734
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Changes
in operating assets and liabilities:
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Accrued
expenses and interest
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-
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9,311
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NET
CASH USED IN OPERATING ACTIVITIES
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-
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-
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CASH
FLOWS FROM INVESTING ACTIVITIES
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NET
CASH USED IN INVESTING ACTIVITIES
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-
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-
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CASH
FLOWS FROM FINANCING ACTIVITIES
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NET
CASH PROVIDED BY FINANCING ACTIVITIES
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-
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-
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NET
CHANGE IN CASH
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-
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-
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CASH
BALANCES
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Beginning
of period
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-
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-
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End
of period
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$
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-
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$
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-
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SUPPLEMENTAL
DISCLOSURE:
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Interest
paid
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$
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-
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$
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-
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Income
taxes paid
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-
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-
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NON-CASH
ACTIVITIES:
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Stock
issued for services
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$
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$
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525,000
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The
below discussion is furnished in accordance with Item 303 of Regulation
S-B.
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ITEM
3.
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QUANTITATIVE
AND QUALITATIVE DISCLOSURES ABOUT MARKET
RISK
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Ex. #
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Description
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3(i).1
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Certificate
of Incorporation filed as an exhibit to the Company's registration
statement on Form 10SB12G filed on July 29, 1999 and incorporated herein
by reference.
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3(ii).1
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By-Laws
filed as an exhibit to the Company's registration statement on Form
10SB12G filed on July 29, 1999 and incorporated herein by
reference.
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14.1
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CoConnect,
Inc. Code of Ethics filed as an exhibit to our annual report on Form
10-KSB filed on June 19, 2005 and incorporated herein by
reference
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31.1
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Rule
13a-12(a)/15d-14(a) Certification of Chief Executive Officer and Chief
Financial Officer pursuant to 18 U.S.C Section 1350, as adopted pursuant
to Section 302 the Sarbanes-Oxley Act of 2002.
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32.1
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Certification
of Chief Executive Officer and Chief Financial Officer pursuant to 18
U.S.C Section 1350, as adopted pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002.
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COCONNECT,
INC.
/s/ Mark L.
Baum
By: Mark
L. Baum
Its:
Chairman of the Board of Directors, CEO and
CFO
(Principal Accounting Officer)
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