New
Jersey
|
22-2333899
|
(State
or other jurisdiction of
|
(I.R.S.
Employer
|
incorporation
or organization)
|
Identification
No.)
|
1801
East Ninth Street
|
|
Cleveland,
Ohio
|
44114
|
(Address
of principal executive offices)
|
(Zip
Code)
|
November
30,
|
|
May
31,
|
|
||||
|
|
2006
|
|
2007
|
|
||
|
|
(Audited)
|
|
(Unaudited)
|
|||
ASSETS
|
|||||||
OTHER
ASSETS
|
|||||||
Distribution
Agreement
|
1,900,000
|
1,900,000
|
|||||
TOTAL
ASSETS
|
$
|
1,900,000
|
$
|
1,900,000
|
|||
LIABILITIES
AND STOCKHOLDERS' EQUITY
|
|||||||
CURRENT
LIABILITIES
|
|||||||
Notes
payable:
|
|||||||
Related
party
|
$
|
7,726,012
|
$
|
8,010,706
|
|||
Trade
and other accounts payable ($441,671 and
|
|||||||
$441,671
to related parties)
|
533,760
|
514,291
|
|||||
Accrued
liabilities
|
-
|
265
|
|||||
Convertible
subordinated notes payable
|
12,423
|
12,423
|
|||||
TOTAL
CURRENT LIABILITIES
|
8,272,195
|
8,537,685
|
|||||
STOCKHOLDERS'
EQUITY
|
|||||||
Common
stock, no par value
|
|||||||
Authorized
- 200,000,000 shares
|
|||||||
Issued
- 199,847,764 shares
|
|||||||
Outstanding
- 199,847,764 shares
|
4,767,579
|
4,767,579
|
|||||
Accumulated
deficit
|
(11,139,774
|
)
|
(11,405,264
|
)
|
|||
TOTAL
STOCKHOLDERS' EQUITY
|
(6,372,195
|
)
|
(6,637,685
|
)
|
|||
TOTAL
LIABILITIES AND STOCKHOLDERS' EQUITY
|
$
|
1,900,000
|
$
|
1,900,000
|
Three
Months Ended
|
|
Six
Months Ended
|
|
||||||||||
|
|
May
31,
|
|
May
31,
|
|
May
31,
|
|
May
31,
|
|
||||
|
|
2006
|
|
2007
|
|
2006
|
|
2007
|
|||||
REVENUES
|
|
||||||||||||
Interest
and other income
|
-
|
-
|
5,246
|
-
|
|||||||||
Total
Revenues
|
-
|
-
|
5,246
|
-
|
|||||||||
|
|||||||||||||
COST
OF GOODS SOLD
|
-
|
-
|
-
|
-
|
|||||||||
GROSS
PROFIT
|
-
|
-
|
5,246
|
-
|
|||||||||
OPERATING
EXPENSES
|
|||||||||||||
Administration
|
26,796
|
28,410
|
53,573
|
34,890
|
|||||||||
Total
expenses
|
26,796
|
28,410
|
53,573
|
34,890
|
|||||||||
|
|||||||||||||
PROFIT(LOSS)
FROM OPERATIONS
|
(26,796
|
)
|
(28,410
|
)
|
(48,327
|
)
|
(34,890
|
)
|
|||||
|
|||||||||||||
OTHER
EXPENSE
|
|||||||||||||
Interest
Expense
|
121,124
|
132,320
|
231,876
|
230,601
|
|||||||||
NET
LOSS
|
(147,920
|
)
|
(160,730
|
)
|
(280,203
|
)
|
(265,491
|
)
|
|||||
|
|||||||||||||
NET
LOSS PER SHARE (BASIC AND
|
|||||||||||||
DILUTED)
|
$
|
(0.00
|
)
|
$
|
(0.00
|
)
|
$
|
(0.00
|
)
|
$
|
(0.00
|
)
|
|
|
|||||||||||||
WEIGHTED
NUMBER OF SHARES OUTSTANDING
|
103,764,911
|
199,847,764
|
103,764,911
|
199,847,764
|
Six
Months Ended
|
|
||||||
|
|
May
31,
|
|
May
31,
|
|
||
|
|
2006
|
|
2007
|
|||
OPERATING
ACTIVITIES:
|
|
||||||
Net
loss
|
$
|
(280,203
|
)
|
$
|
(265,491
|
)
|
|
Adjustment
to reconcile net loss to net
|
|||||||
cash
used by operating activities:
|
-
|
-
|
|||||
Depreciation
and amortization
|
-
|
-
|
|||||
Noncash
interest expense
|
231,876
|
230,601
|
|||||
Accounts
receivable
|
-
|
-
|
|||||
Inventories
|
-
|
-
|
|||||
Accounts
payable
|
(47,101
|
)
|
(19,469
|
)
|
|||
Accrued
liabilities
|
-
|
265
|
|||||
Total
Adjustments
|
184,775
|
211,397
|
|||||
Net
cash used by operating activities
|
(95,428
|
)
|
(54,094
|
)
|
|||
CASH
FLOWS FROM FINANCING ACTIVITIES
|
|||||||
Proceeds
on notes and accounts payable - related party
|
95,360
|
54,094
|
|||||
Payments
on note payable - related party
|
-
|
-
|
|||||
Net
cash provided by financing activities
|
95,360
|
54,094
|
|||||
NET
INCREASE (DECREASE) IN CASH
|
(68
|
)
|
-
|
||||
CASH
- BEGINNING OF PERIOD
|
68
|
-
|
|||||
CASH
- END OF PERIOD
|
$
|
-
|
$
|
-
|
|||
Supplemental
disclosure of cash flow information:
|
|||||||
Cash
paid during the quarter for:
|
|||||||
Interest
|
$
|
-
|
$
|
-
|
BALANCE
SHEET DATA
|
||||
Current
assets
|
$
|
405,076
|
||
Leasehold
improvements
|
15,055
|
|||
Computer
and office equipment
|
144,246
|
|||
Goodwill/client
lists
|
290,786
|
|||
Other
assets
|
426
|
|||
Total
assets
|
855,589
|
|||
Current
liabilities
|
89,590
|
|||
|
||||
Partners’
equity
|
765,999
|
|||
Total
liabilities and partners’ equity
|
$
|
855,589
|
||
STATEMENT
OF INCOME DATA
|
||||
Revenues
|
$
|
2,067,818
|
||
Net
income(loss)
|
$
|
(250,646
|
)
|
Date:
July 20, 2007
|
SENTEX
SENSING TECHNOLOGY, INC.
|
|
By:
|
/s/
Henrik Rubinstein
|
|
Henrik
Rubinstein, President
|
||
/s/
Robert S. Kendall
|
||
Robert
S. Kendall, Chairman and Treasurer
|
||
/s/
William R. Sprow
|
||
William
R. Sprow, Chief Financial Officer
|
||
/s/
William R. Sprow
|
||
William
R. Sprow, Controller
|
a) |
Exhibit
31.1302
Certification of Chief Executive
Officer
|
Exhibit
31.2 302
Certification of Chief Financial Officer
|
Exhibit
32.1 Certification
Pursuant To 18 U. S. C. Section 1350, As Adopted Pursuant To Section
906
Of The
Sarbanes-Oxley Act of 2002
|
Exhibit
32.2 Certification
Pursuant To 18 U. S. C. Section 1350, As Adopted Pursuant To Section
906
Of The
Sarbanes-Oxley Act of 2002
|
b) |
One
report on Form 8-K was filed with the Commission during the small
business
issuer’s third quarter of Fiscal Year 2006.
|