PINX:SIII Strategic Internet Investments Inc Quarterly Report 10-Q Filing - 6/30/2012

Effective Date 6/30/2012

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-Q

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarterly Period ended June 30, 2012

Commission File No. 033-28188

STRATEGIC INTERNET INVESTMENTS, INCORPORATED
Registrant name:

Delaware 84-1116458
State of incorporation: IRS Employer Identification:

Nisar Square, Benyas Centre Office
No. 207
P.O. Box 40088,
Dubai, United Arab Emirates

Address of principal executive offices:

009 714 223 1189
Registrant’s telephone number

Indicate by check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months, and (2) has been subject to such filing requirements for the past 90 days.
Yes [X]    No [   ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (s. 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).
Yes [X]    No [   ] 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.
Yes [X]    No [   ]

Large accelerated filer [   ]
Accelerated filer [   ]
Non-accelerated filer [   ] (Do not check if a smaller reporting company)
Smaller reporting company [X]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes [X]    No [   ] 

Common shares outstanding as of August 15, 2012: 27,610,326


PART I – FINANCIAL INFORMATION

Forward Looking Statements.

This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, including the risks in the section entitled “Risk Factors” and the risks set out below, any of which may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

These risks include, by way of example and not in limitation:

  • results of initial feasibility, pre-feasibility and feasibility studies, and the possibility that future real estate development results will not be consistent with our expectations;
  • real estate development risks, including risks related to accidents, equipment breakdowns, labour disputes or other unanticipated difficulties or interruptions in development construction;
  • the potential for delays in development activities or the completion of feasibility studies;
  • risks related to the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses;
  • risks related to commodity price fluctuations;
  • the uncertainty of profitability based upon our history of losses;
  • risks related to failure to obtain adequate financing on a timely basis and on acceptable terms for our planned development projects;
  • risks related to environmental regulation and liability;
  • risks that the amounts reserved or allocated for environmental compliance, reclamation, control measures, monitoring and on-going maintenance may not be sufficient to cover such costs;
  • risks related to tax assessments;
  • political and regulatory risks associated with real estate development; and
  • other risks and uncertainties related to our prospects, properties and business strategy.

This list is not an exhaustive list of the factors that may affect any of our forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on our forward-looking statements.

The Company intends that such forward-looking statements be subject to the Safe Harbors for such statements. Forward looking statements are made based on management’s beliefs, estimates and opinions on the date the statements are made and we undertake no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

Our financial statements are stated in United States dollars (US$) and are prepared in accordance with United States Generally Accepted Accounting Principles.

In this report, unless otherwise specified, all dollar amounts are expressed in United States dollars and all references to “common stock” refer to the common shares in our capital stock. As used in this report, the terms “we”, “us”, “our”, the “Company” and “Strategic” mean Strategic Internet Investments, Incorporated, unless otherwise indicated.


1. Financial Statements

 

 

 

 

STRATEGIC INTERNET INVESTMENTS, INCORPORATED

(A Development Stage Company)

INTERIM FINANCIAL STATEMENTS

June 30, 2012

(Stated in U.S. Dollars)

(Unaudited)


STRATEGIC INTERNET INVESTMENTS, INCORPORATED
(A Development Stage Company)
INTERIM BALANCE SHEETS
(Stated in U.S. Dollars)
(Unaudited)

    June 30,     December 31,  
    2012     2011  
             
       ASSETS            
             
       Current            
               Cash $  185   $  161  
               Prepaid expenses   500     -  
             
  $  685   $  161  
             
             
       LIABILITIES            
             
       Current            
               Accounts payable – Note 5 $  567,873   $  566,958  
               Loans payable – Note 2   961,952     876,664  
             
       TOTAL LIABILITIES   1,529,825     1,443,622  
             
       Class A Convertible Preferred stock, $0.001 par value            
             10,000,000 authorized, 198,000 outstanding – Note 3   792,000     792,000  
             
       CAPITAL DEFICIT            
             
       Capital Stock – Notes 3, 4 and 5            
               Class B Preferred stock, $0.001 par value 
                    10,000,000 authorized, none outstanding 
               Common stock, $0.001 par value 
                    100,000,000 authorized 27,610,326 issued 
                    (2011: 27,610,326 issued)
  27,610     27,610  
       Additional paid-in capital   7,765,583     7,765,583  
       Deficit accumulated during the development stage   (10,114,333 )   (10,028,654 )
             
    (2,321,140 )   (2,235,461 )
             
  $  685   $  161  
             
             
Nature of Operations and Ability to Continue as a Going Concern – Note 1            
Commitments – Notes 2 and 5            

SEE ACCOMPANYING NOTES


STRATEGIC INTERNET INVESTMENTS, INCORPORATED
(A Development Stage Company)
INTERIM STATEMENTS OF OPERATIONS
(Stated in U.S. Dollars)
(Unaudited)

                            Cumulative from  
                            February 28,  
                            1989 (Date of
    Three months ended     Six months ended     Inception) to  
    June 30,     June 30,     June 30,  
    2012     2011     2012     2011     2012  
                               
General and Administrative Expenses                              
     Accounting and audit fees $  18,842   $ 29,596   $  44,162   $  44,596   $  519,243  
     Amortization   -     -     -     -     3,616  
     Communications   214     220     428     442     107,650  
     Consulting fees – Notes 4 and 5   -     -     -     -     3,419,546  
     Interest – Notes 2 and 5   16,233     14,694     32,070     28,876     601,808  
     Investor relations   -     -     -     -     91,385  
     Legal fees   -     -     -     -     166,684  
     Management fees – Note 5   -     -     -     -     546,325  
     Office and general – Note 5   67     40     115     129     145,448  
     Regulatory fees   1,536     4,573     7,364     5,487     59,779  
     Rent – Note 5   -     -     -     -     135,615  
     Transfer agent fees   375     375     750     750     48,258  
     Travel   -     -     -     -     112,770  
     Loss on disposal of equipment   -     -     -     -     1,481  
     Write-down of advances to related party   -     -     -     -     606,337  
                               
Operating loss   (37,267 )   (49,498 )   (84,889 )   (80,280 )   (6,565,945 )
                               
     Unauthorized distribution   -     -     -     -     (69,116 )
     Termination fee   -     -     -     -     (792,000 )
     Gain (loss) on foreign exchange   8,233     (1,769 )   (790 )   (6,958 )   (38,877 )
     Gain on settlement of payables   -     -     -     -     25,233  
     Write-down of deferred investment costs   -     -     -     -     (34,210 )
                               
Net loss for the period $  (29,034 ) $ (51,267 ) $ (85,679 ) $  (87,238 ) $  (7,474,915 )
                               
Basic and diluted loss per share $  (0.00 ) $ (0.00 ) $  (0.00 ) $  (0.00 )      
                               
Weighted average number of common shares outstanding   27,610,326     27,610,326     27,610,326     27,610,326      

SEE ACCOMPANYING NOTES


STRATEGIC INTERNET INVESTMENTS, INCORPORATED
(A Development Stage Company)
INTERIM STATEMENTS OF CASH FLOWS
(Stated in U.S. Dollars)
(Unaudited)

                Cumulative from  
                February 28, 1989  
    Six months ended     (Date of Inception) to  
    June 30,     June 30,  
    2012     2011     2012  
Operating Activities                  
   Net loss for the period $  (85,679 ) $  (87,238 ) $  (7,474,915 )
   Adjustments to reconcile net loss to net cash used in operating activities:            
             Amortization   -     -     3,616  
             Beneficial conversion feature on convertible debt   -     -     239,662  
             Communications   -     -     28,000  
             Consulting fees   -     -     2,478,554  
             Gain on settlement of payables   -     -     (25,233 )
             Interest accrued on loans   32,070     28,876     238,468  
             Legal fees   -     -     25,000  
             Loss on disposal of equipment   -     -     1,481  
             Management fees   -     -     7,000  
             Stock-based compensation   -     -     736,053  
             Termination fees   -     -     792,000  
             Write-down of deferred costs   -     -     34,210  
             Write-down of advances to related party   -     -     606,337  
   Changes in non-cash item:                  
             Prepaid expenses   (500 )   322     (500 )
             Accounts payable   915     13,885     705,819  
                   
Net cash used in operating activities   (53,194 )   (44,155 )   (1,604,448 )
                   
Investing Activities                  
 Organization costs   -     -     (750 )
   Acquisition of equipment   -     -     (4,347 )
 Deferred costs   -     -     (34,210 )
 Advances to related party   -     -     (606,337 )
                   
Net cash used in investing activities   -     -     (645,644 )
                   
Financing Activities                  
 Loans payable   53,218     44,676     1,076,948  
 Due to related parties   -     -     15,526  
 Proceeds from issuance of common stock   -     -     1,162,631  
 Payment of offering costs   -     -     (30,270 )
 Additional paid-in capital   -     -     25,442  
                   
Net cash provided by financing activities   53,218     44,676     2,250,277  
                   
Increase in cash during the period   24     521     185  
Cash, beginning of the period   161     236     -  
Cash, end of the period $  185   $  757   $  185  
                   
Supplementary disclosure of cash flows:                  
 Cash paid for Interest $  -   $  -   $  93,859  
                   
Non-cash Transactions – Note 4                  

SEE ACCOMPANYING NOTES


STRATEGIC INTERNET INVESTMENTS, INCORPORATED
(A Development Stage Company)
INTERIM STATEMENTS OF CHANGES IN CAPITAL DEFICIT
For the period from February 28, 1989 (Date of Inception) to June 30, 2012
(Stated in U.S. Dollars)
(Unaudited)

                            Deficit        
                            Accumulated        
                      Additional     During the        
          Common Stock     Paid-In     Development        
          Shares     Par Value     Capital     Stage     Total  
                                     
Balance, February 28, 1989         -   $  -   $  -   $  -   $  -  
   Issuance of stock to insiders on                                    
     March 7, 1989   – at $0.30     33,347     33     9,967     -     10,000  
                                     
Balance December 31, 1989         33,347     33     9,967     -     10,000  
   Issuance of stock during public                                    
   offering for $3.00 per share, net of                                    
   offering costs of $27,270         33,348     33     72,697     -     72,730  
   Net loss         -     -     -     (84,159 )   (84,159 )
                                     
Balance, December 31, 1990         66,695     66     82,664     (84,159 )   (1,429 )
   Net loss         -     -     -     (3,416 )   (3,416 )
                                     
Balance, December 31, 1991         66,695     66     82,664     (85,575 )   (4,845 )
   Net loss         -     -     -     (2,713 )   (2,713 )
                                     
Balance, December 31, 1992         66,695     66     82,664     (90,288 )   (7,558 )
   Net loss         -     -     -     (1,614 )   (1,614 )
                                     
Balance, December 31, 1993         66,695     66     82,664     (91,902 )   (9,172 )
   Net loss         -     -     -     (1,863 )   (1,863 )
                                     
Balance December 31, 1994         66,695     66     82,664     (93,765 )   (11,035 )
   Issuance of stock for services rendered   – at $0.03     50,000     50     1,450     -     1,500  
   Contributed capital         -     -     24,842     -     24,842  
   Net loss         -     -     -     (16,735 )   (16,735 )
                                     
Balance, December 31, 1995         116,695     116     108,956     (110,500 )   (1,428 )
   Net loss         -     -     -     (9,068 )   (9,068 )
                                     
Balance December 31, 1996         116,695     116     108,956     (119,568 )   (10,496 )
   Issuance of stock for cash   - at $0.011     2,000,000     2,000     19,300     -     21,300  
   Contributed capital         -     -     600     -     600  
   Net loss         -     -     -     (22,261 )   (22,261 )
                                     
Balance, December 31, 1997         2,116,695     2,116     128,856     (141,829 )   (10,857 )
   Issuance of stock services                                    
    - at $0.001     7,000,000     7,000     -     -     7,000  
    - at $0.01     620,000     620     5,580     -     6,200  
   Net loss         -     -     -     (52,308 )   (52,308 )
                                     
Balance, December 31, 1998         9,736,695     9,736     134,436     (194,137 )   (49,965 )
   Net loss         -     -     -     (35,995 )   (35,995 )

…Cont’d

SEE ACCOMPANYING NOTES


STRATEGIC INTERNET INVESTMENTS, INCORPORATED
(A Development Stage Company)
INTERIM STATEMENTS OF CHANGES IN CAPITAL DEFICIT
For the period from February 28, 1989 (Date of Inception) to June 30, 2012
(Stated in U.S. Dollars)
(Unaudited)

                            Deficit        
                            Accumulated        
                      Additional     During the        
          Common Stock     Paid-In     Development        
          Shares     Par Value     Capital     Stage     Total  
                                     
Balance, December 31, 1999         9,736,695   $  9,736   $  134,436   $  (230,132 ) $  (85,960 )
                                     
   Issuance of stock for cash
       pursuant to a private placement
  – at $0.30     1,133,334     1,133     338,867     -     340,000  
   Issue of stock for finders’ fee         50,000     50     (50 )   -     -  
   Net loss         -     -     -     (336,431 )   (336,431 )
   Non-cash compensation charge         -     -     78,707     -     78,707  
                                     
Balance December 31, 2000         10,920,029     10,919     551,960     (566,563 )   (3,684 )
   Issuance of stock for services   – at $0.50     328,356     328     163,851     -     164,179  
    - at $1.55     13,383     13     20,731     -     20,744  
    - at $3.50     366,667     367     1,282,964     -     1,283,331  
   Issuance of stock for cash pursuant
         to a private placement
  - at $0.30     883,332     883     264,117     -     265,000  
   Issuance of stock pursuant to the
        exercise of warrants
  - at $2.00     28,800     29     57,571     -     57,600  
   Less: Issue costs         -     -     (17,858 )   -     (17,858 )
   Net loss         -     -     -     (2,296,406 )   (2,296,406 )
   Non-cash compensation charge         -     -     136,378     -     136,378  
                                     
Balance, December 31, 2001         12,540,567     12,539     2,459,714     (2,862,969 )   (390,716 )
   Issuance of stock for prepaid consulting                           -        
    - at $0.35     80,000     80     27,920     -     28,000  
   Issuance of stock for deferred costs   - at $0.05     1,300,000     1,300     63,700     -     65,000  
   Issuance of stock for services   – at $0.05     100,000     100     4,900     -     5,000  
    - at $0.055     60,000     60     3,240     -     3,300  
    - at $0.10     105,000     105     10,395     -     10,500  
    - at $0.148     27,000     27     3,973     -     4,000  
    - at $0.20     175,000     175     34,825     -     35,000  
    - at $0.209     17,143     17     3,583     -     3,600  
    - at $0.35     120,000     120     41,880     -     42,000  
   Issuance of stock for debt   – at $0.20     458,135     458     91,169     -     91,627  
    - at $0.209     222,751     223     46,156     -     46,379  
   Net loss         -     -     -     (214,758 )   (214,758 )
                                     
Balance, December 31, 2002         15,205,596     15,204     2,791,455     (3,077,727 )   (271,068 )
     Non-cash compensation charge         -     -     53,500     -     53,500  
     Issue of stock for services       1,450,000     1,450     201,550     -     203,000  
   Issue of stock for cash pursuant
        to a private placement
  – at $0.10     650,000     650     64,350     -     65,000  
     Net loss         -     -     -     (1,208,941 )   (1,208,941 )

…Cont’d

SEE ACCOMPANYING NOTES


STRATEGIC INTERNET INVESTMENTS, INCORPORATED
(A Development Stage Company)
INTERIM STATEMENTS OF CHANGES IN CAPITAL DEFICIT
For the period from February 28, 1989 (Date of Inception) to June 30, 2012
(Stated in U.S. Dollars)
(Unaudited)

                            Deficit        
                            Accumulated        
                      Additional     During the        
          Common Stock     Paid-In     Development        
          Shares     Par Value     Capital     Stage     Total  
                                     
Balance, December 31, 2003         17,305,596   $  17,304   $  3,110,855   $  (4,286,668 ) $ (1,158,509 )
     Non-cash compensation charge         -     -     161,450     -     161,450  
Issue of stock for cash pursuant to the
          exercise of warrants
  – at $0.10     320,000     320     31,680     -     32,000  
    – at $0.05     643,715     644     31,542     -     32,186  
Issue of stock for cash pursuant to the
          exercise of options
  – at $0.25     205,000     205     51,045     -     51,250  
     Issue of stock for debt   – at $0.05     563,000     563     29,437     -     30,000  
    – at $0.06     825,364     825     47,712     -     48,537  
    – at $0.30     50,000     50     14,950     -     15,000  
     Issuance of stock for services   – at $2.00     10,000     10     19,990     -     20,000  
    – at $0.35     350,000     350     122,150     -     122,500  
Cancellation of stock issued for deferred
       Investment costs
  – at $0.05     (1,300,000 )   (1,300 )   (63,700 )   -     (65,000 )
     Net loss         -     -     -     (517,324 )   (517,324 )
                                     
Balance, December 31, 2004         18,972,675     18,971     3,557,111     (4,803,992 )   (1,227,910 )
     Non-cash compensation charge         -     -     25,700     -     25,700  
     Issue of stock for cash pursuant to the
          exercise of warrants
  – at $0.07     75,820     76     5,232     -     5,308  
    – at $0.10     357,760     358     35,417     -     35,775  
    – at $0.11     299,724     300     31,270     -     31,570  
    – at $0.21     16,803     17     3,483     -     3,500  
     Issue of stock for debt   – at $0.39     635,901     636     249,524     -     250,160  
     Issuance of stock for services   – at $0.25     950,000     950     236,550     -     237,500  
    – at $0.36     100,000     100     35,900     -     36,000  
    – at $0.50     121,000     121     60,379     -     60,500  
    – at $0.54     20,000     20     10,680     -     10,700  
    – at $0.84     50,000     50     41,950     -     42,000  
     Issuance of stock dividend   – at $0.65     4,060,643     4,061     2,635,357     (2,639,418 )   -  
     Net loss         -     -     -     (517,270 )   (517,270 )
                                     
Balance, December 31, 2005         25,660,326     25,660     6,928,553     (7,960,680 )   (1,006,467 )
                                     
     Issue of stock for cash pursuant
         to a private placement
  – at $0.40     200,000     200     79,800     -     80,000  
     Issue of stock for finder’s fee   – at $0.40     100,000     100     39,900     -     40,000  
     Share issue costs         -     -     (43,000 )   -     (43,000 )
     Beneficial conversion feature on 
           convertible debt
      -     -     77,800     -     77,800  
     Net loss         -     -     -     (401,655 )   (401,655 )

…Cont’d

SEE ACCOMPANYING NOTES


STRATEGIC INTERNET INVESTMENTS, INCORPORATED
(A Development Stage Company)
INTERIM STATEMENTS OF CHANGES IN CAPITAL DEFICIT
For the period from February 28, 1989 (Date of Inception) to June 30, 2012
(Stated in U.S. Dollars)
(Unaudited)

                            Deficit        
                            Accumulated        
                      Additional     During the        
          Common Stock     Paid-In     Development        
          Shares     Par Value     Capital     Stage     Total  
                                     
Balance, December 31, 2006         25,960,326   $  25,960   $  7,083,053   $  (8,362,335 ) $ (1,253,322 )
     Issue of stock for cash pursuant to a
          private placement
  – at $0.25     200,000     200     49,800     -     50,000  
     Issuance of stock for services   – at $0.20     700,000     700     139,300     -     140,000  
     Non-cash compensation charge         -     -     29,240     -     29,240  
     Beneficial conversion feature on
         convertible debt
      -     -     39,600     -     39,600  
     Net loss         -     -     -     (519,345 )   (519,345 )
                                     
Balance, December 31, 2007         26,860,326     26,860     7,340,993     (8,881,680 )   (1,513,827 )
     Issuance of stock for services   – at $0.07     750,000     750     51,250     -     52,000  
     Non-cash compensation charge         -     -     251,078     -     251,078  
     Beneficial conversion feature on
        convertible debt
      -     -     122,262     -     122,262  
     Net loss         -     -     -     (723,811 )   (723,811 )
                                     
Balance, December 31, 2008         27,610,326     27,610     7,765,583     (9,605,491 )   (1,812,298 )
     Net loss         -     -     -     (154,805 )   (154,805 )
                                     
Balance, December 31, 2009         27,610,326     27,610     7,765,583     (9,760,296 )   (1,967,103 )
     Net loss         -     -     -     (134,729 )   (134,729 )
                                     
Balance, December 31, 2010         27,610,326     27,610     7,765,583     (9,895,025 )   (2,101,832 )
     Net loss         -     -     -     (133,629 )   (133,629 )
                                     
Balance, December 31, 2011         27,610,326   $  27,610   $  7,765,583   $  (10,028,654 ) $ (2,235,461 )
     Net loss         -     -     -     (85,679 )   (85,679 )
                                     
Balance, June 30, 2012         27,610,326   $  27,610   $  7,765,583   $  (10,114,333 ) $ (2,321,140 )

SEE ACCOMPANYING NOTES


STRATEGIC INTERNET INVESTMENTS, INCORPORATED
(A Development Stage Company)
NOTES TO THE INTERIM FINANCIAL STATEMENTS
March 31, 2012
(Stated in U.S. Dollars)
(Unaudited)

1.

Nature of Operations and Ability to Continue as a Going Concern

   

The Company is in the development stage and is devoting its efforts to exploring new investment opportunities, including real estate development projects.

   

These financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for its next fiscal year. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. At June 30, 2012, the Company had not yet achieved profitable operations, has an accumulated deficit of $10,114,333 since its inception, has a working capital deficiency of $1,529,140 and expects to incur further losses in the development of its business, all of which casts substantial doubt about the Company’s ability to continue as a going concern. Management anticipates that it requires approximately $81,000 over the twelve months ended June 30, 2013 to continue operations as well as the Company estimates it will accrue interest expenses of $66,000 over the next 12 months on loans due to related parties. In addition to funding the Company’s general, administrative and corporate expenses the Company is obligated to address its current obligations totalling $1,529,825. To the extent that cash needs are not achieved from operating cash flow and existing cash on hand, the Company will be required to raise necessary cash through shareholder loans, equity issuances and/or other debt financing. Amounts raised will be used to continue the development of the Company's investment activities, and for other working capital purposes.

   

The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management has no formal plan in place to address this concern but considers that the Company will be able to obtain additional funds by equity financing and/or related party advances; however there is no assurance of additional funding being available. The Company has historically satisfied its capital needs primarily by issuing equity securities. Management plans to continue to provide for its capital needs during the twelve months ended June 30, 2013, by issuing equity securities and/or related party advances.

   

The accompanying unaudited interim financial statements have been prepared by the Company pursuant to the rules and regulations of the United States Securities and Exchange Commission. Certain information and disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, all adjustments and disclosures necessary for a fair presentation of these financial statements have been included. Such adjustments consist of normal recurring adjustments. These interim financial statements should be read in conjunction with the annual audited financial statements of the Company for the fiscal year ended December 31, 2011, included in the Company’s 10-K Annual Report as filed with the United States Securities and Exchange Commission.

   

The results of operations for the periods ended June 30, 2012 are not indicative of the results that may be expected for the full year.

1


STRATEGIC INTERNET INVESTMENTS, INCORPORATED
(A Development Stage Company)
NOTES TO THE INTERIM FINANCIAL STATEMENTS
March 31, 2012
(Stated in U.S. Dollars)
(Unaudited)

2.

Loans Payable


        June 30,     December 31,  
        2012     2011  
                 
  a)

Loan payable to a company controlled by a director of the Company including accrued interest of $9,215 (December 31, 2011 - $8,298). The loan is unsecured, bearing interest at 12% per annum and is repayable on demand.

 16,017   $  15,100  
   

 

           
  b)

Loans payable to companies controlled by directors of the Company. The loans are unsecured, non-interest bearing, and repayable upon demand.

  297,705     244,487  
   

 

           
  c)

Loan payable to a company controlled by a director of the Company, including accrued interest payable of $92,754 (December 31, 2011 - $80,426), pursuant to a Convertible Loan Agreement. The loan is unsecured, bearing interest at 10% per annum and is repayable on demand. The lender may at anytime convert the principal sum into units of the Company. Each unit will consist of one common share plus one common share purchase warrant. Each warrant is exercisable for a period of 2 years from the date of conversion at a price ranging from $0.05 to $0.23. The principal sum of $163,766 may be converted into 2,320,858 units. Conversion of these loans and resulting associated warrants to equity will be based on the conversion price set at the time the principal amount was drawn ranging from $0.05 to $0.23. Upon conversion of this loan, the $73,685 fair value of the warrants will be recognized as an interest expense and credited to additional paid-in capital.

  256,520     244,192  
   

 

           
  d)

Loan payable to a company controlled by a director of the Company, including accrued interest of $136,501 (December 31, 2011 - $117,676), pursuant to a Convertible Loan Agreement. The loan is unsecured, bearing interest at 10% per annum and is repayable on demand. The lender may at anytime convert the principal sum into units of the Company. Each unit will consist of one common share plus one common share purchase warrant. Each warrant is exercisable for a period of 2 years from the date of conversion at a price ranging from $0.05 to $0.12. The principal sum of $255,209 may be converted into 4,526,436 units. Conversion of this loan and resulting associated warrants to equity will be based on the conversion price set at the time the principal amount was drawn ranging from $0.05 to $0.12. Upon conversion of this loan, the $113,338 fair value of the warrants will be recognized as an interest expense and credited to additional paid-in capital.

  391,710     372,885  
   

 

           
   

 

 961,952   $  876,664  

2


STRATEGIC INTERNET INVESTMENTS, INCORPORATED
(A Development Stage Company)
NOTES TO THE INTERIM FINANCIAL STATEMENTS
March 31, 2012
(Stated in U.S. Dollars)
(Unaudited)

3.

Capital Stock

   

Class A Convertible Preferred Shares

   

The Class A convertible preferred shares issued in 2003 have a par value of $0.001 and are convertible to common shares at $4.00 per share during the first 180 days following issuance, and thereafter at the average of twenty consecutive days closing prices, but shall not be less than $1.50 per share or greater than $6.00 per share. The Company has the right to redeem its Class A convertible preferred stock at any time by paying to the holders thereof the sum of $4 per share.

   

The aggregate liquidation value of the Class A convertible preferred shares is $792,000. A merger or consolidation of the Company that results in the Company’s stockholders immediately prior to the transaction not holding at least 50% of the voting power of the surviving entity shall be deemed a liquidation event.

   

Stock Option Plan

   

The Company’s board of directors approved a stock option plan. Under the plan directors, employees and consultants may be granted options to purchase common stock of the Company at a price of not less than 100% of the fair market value of the stock. The total number of options granted must not exceed 15% of the outstanding common stock of the Company. The plan expires on July 1, 2017.

   

Stock-based Compensation

   

In previous periods, the Company granted share purchase options to directors, employees, and consultants of the Company at the closing price of the Company’s common stock on the date of the grants. The options have been granted with a term of 5 years.

   

The fair value of each option grant was estimated on the date of the grant using the Black-Scholes option valuation model. The Black-Scholes option valuation model requires the input of highly subjective assumptions including the expected price volatility. Changes in the subjective input assumptions can materially affect the fair value estimate and therefore the Black-Scholes model does not necessarily provide a reliable single measure of the fair value of the Company’s share purchase options.

   

During the six month periods ended June 30, 2012 and 2011 the Company did not grant any stock options to directors, employees, or consultants.

   

During the period ended June 30, 2012, the change in share purchase options outstanding are as follows:


            Weighted     Weighted        
            Average     Average     Aggregate  
            Exercise     Remaining     Intrinsic  
      Shares     Price     Contractual Life     Value  
                           
  Options outstanding at December 31, 2010   3,175,000   $ 0.15     2.42 years   $  -  
  Cancelled during the period   (50,000 ) $ 0.15     2.42 years     -  
  Options outstanding at December 31, 2011   3,125,000   $ 0.15     1.42 years   $  -  
  Options outstanding at June 30, 2012   3,125,000   $ 0.15     0.92 years   $  -  

3


STRATEGIC INTERNET INVESTMENTS, INCORPORATED
(A Development Stage Company)
NOTES TO THE INTERIM FINANCIAL STATEMENTS
March 31, 2012
(Stated in U.S. Dollars)
(Unaudited)

3.

Capital Stock – (cont’d)

Stock-based Compensation – (cont’d)

As at June 30, 2012, the Company had share purchase options outstanding as follows:

Number of Options Exercise Price Expiry Date
3,125,000 $0.15 June 1, 2013

As at June 30, 2012 and December 31, 2011 all of the outstanding share purchase options were exercisable.

   
4.

Non-Cash Transactions

   

Investing and financing activities that do not have a direct impact on cash flows are excluded from the statements of cash flows. The Company issued common shares for settlement of debts, convertible loans, and for services provided to the Company during the following years:


        Number of           Weighted        
        Preferred     Number of     Average Price        
  Year     Shares     Common Shares     Per Share     Total  
                             
  1995 Consulting fee   -     50,000   $ 0.03   $  1,500  
  1998 Management fee   -     7,000,000   $ 0.001     7,000  
  1998 Consulting fee   -     620,000   $ 0.01     6,200  
  2000 Finders fee   -     50,000   $ 0.001     50  
  2001 Consulting fee   -     708,406   $ 2.07     1,468,254  
  2002 Deferred cost   -     1,300,000   $ 0.05     65,000  
  2002 Consulting fee   -     684,143   $ 0.19     131,400  
  2002 Debt settlement   -     680,886   $ 0.20     138,006  
  2003 Consulting fee   -     1,450,000   $ 0.14     203,000  
  2003 Termination fee   198,000     -   $ 4.00     792,000  
  2004 Loan conversion   -     825,364   $ 0.06     48,537  
  2004 Loan settlement   -     613,000   $ 0.07     45,000  
  2004 Consulting fee   -     360,000   $ 0.40     142,500  
  2004 Deferred cost (cancellation)   -     (1,300,000 ) $ 0.05     (65,000 )
  2005 Communications   -     56,000   $ 0.50     28,000  
  2005 Consulting fees   -     1,135,000   $ 0.29     333,700  
  2005 Legal fees   -     50,000   $ 0.50     25,000  
  2005 Loan conversion   -     635,901   $ 0.39     250,160  
  2005 Stock dividend   -     4,120,643   $ 0.65     2,678,418  
  2006 Finders’ fee   -     100,000   $ 0.40     40,000  
  2007 Consulting fees   -     700,000   $ 0.20     140,000  
  2008 Consulting fees   -     750,000   $ 0.07     52,000  
        198,000     20,589,343         $  6,530,725  

These amounts have been excluded from the investing and financing activities of the statements of cash flows.

4


STRATEGIC INTERNET INVESTMENTS, INCORPORATED
(A Development Stage Company)
NOTES TO THE INTERIM FINANCIAL STATEMENTS
March 31, 2012
(Stated in U.S. Dollars)
(Unaudited)

5.

Related Party Transactions

   

The Company was charged the following by stockholders, directors, by companies controlled by directors and/or stockholders of the Company, and by companies with directors in common:

 
                              Cumulative from  
                              February 28, 1989  
      Three months ended     Six months ended     (Date of Inception) to  
      June 30,     June 30,     June 30,  
      2012     2011     2012     2011     2012  
                                 
  Consulting fees $  -   $  -   $  -   $  -   $  249,043  
  Interest   16,233     14,694     32,070     28,876     454,043  
  Management fees   -     -     -     -     546,325  
  Office and general   -     -     -     -     26,944  
  Rent   -     -     -     -     130,232  
                                 
    $  16,233   $  14,694   $  32,070   $  28,876   $  1,406,587  

At June 30, 2012, accounts payable includes $457,211 (December 31, 2011 - $456,972) due to directors of the Company and companies controlled by directors of the Company in respect of unpaid management fees, consulting fee and expenses incurred on behalf of the Company.

   

At June 30, 2012, accounts payable also includes $15,527 (December 31, 2011 - $15,527) of expenses for operating costs paid on behalf of the Company by companies with directors in common.

   

The Company entered into two Management Services Agreements dated January 1, 2007 with a director and a company controlled by a director of the Company. Under the terms of these agreements they were each paid $7,500 per month, plus taxes where applicable, for management services. These agreements were for a 24-month period and expired on December 31, 2008. Effective September 12, 2008, one of the agreements was terminated and the other was not renewed subsequent to December 31, 2008. Pursuant to these agreements, accounts payable includes $321,057 of unpaid management fees. If the Company is unable to pay for the services, the consultant may elect to settle any portion of outstanding amounts plus interest with units of the Company. Each unit shall consist of one common share and one share purchase warrant entitling the holder to purchase one additional common share of the Company. The price for the units and warrants will be determined based on a discount to the 10 day average market price ranging from 50% to 60%, but no less than $0.05 per share.

   
6.

Subsequent Event

   

Subsequent to June 30, 2012 the Company received additional loans of $23,800 from a company controlled by a director of the Company. These loans are unsecured, non-interest bearing, and repayable upon demand.

5



2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

   

The following discussion should be read in conjunction with our unaudited interim financial statements and the related notes that appear elsewhere in this quarterly report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward looking statements. Factors that could cause or contribute to such differences include those discussed below and elsewhere in this annual report.

   

Our unaudited interim financial statements are stated in United States dollars and are prepared in accordance with United States generally accepted accounting principles (“GAAP”).

   

The Company is in the development stage, accordingly certain matters discussed herein are based on potential future circumstances and developments, which the Company anticipates, but which cannot be assured.

   

Plan of Operation

   

The Company has been devoting its business efforts to real estate development projects located in Bahrain and Turkey. The Company will continue to explore new investment opportunities, including real estate development projects, during its 2012 fiscal year.

   

Our estimated cash expenses over the next twelve months are as follows:


Accounting, audit, and legal fees $ 65,000  
General and administrative expenses   3,000  
Regulatory and transfer agent fees   13,000  
  $ 81,000  

The Company also estimates it will accrue interest expenses of $66,000 over the next 12 months on loans due to related parties. It is not anticipated the interest will be paid in cash during 2012, and therefore interest has been excluded from the above list of cash expenses.

To date we have funded our operations primarily with loans from shareholders and issue new equity. In addition to funding the Company’s general, administrative and corporate expenses the Company is obligated to address its current obligations totalling $1,529,825. To the extent that cash needs are not achieved from operating cash flow and existing cash on hand, the Company will be required to raise necessary cash through shareholder loans, equity issuances and/or other debt financing. Amounts raised will be used to continue the development of the Company's investment activities, and for other working capital purposes, which may be dilutive to existing shareholders. The Company currently has no agreement in place to raise funds for current liabilities and no guarantee can be given that we will be able to raise funds for this purpose on terms acceptable to the company. Failure to raise funds for general, administrative and corporate expenses and current liabilities could result in a severe curtailment of the Company’s operations.

Any advance in the real estate development strategy set-out herein will require additional funds. These funds may be raised through equity financing, debt financing or other sources which may result in further dilution of the shareholders percentage ownership in the company. See “Future Financing” below.

Results of Operations

During the quarter ended June 30, 2012, the Company incurred general and administrative expenses totaling $37,267 compared to $49,498 during the same period of the previous year.

The volume of transactions and business activities has changed little compared to the prior year. The changes in our general and administrative expenses for the three month period ended June 30, 2012 when compared to the three month period ended June 30, 2011 was primarily due to:

  a)

The 2012 accounting and audit fees is $18,842 compared to $29,596 in the 2011 period. The $10,754 decrease in accounting and audit fees from 2012 to 2011 is mainly due to a timing difference whereby more of these fees were incurred in Q1 compared to 2011 when these fees were mostly incurred in Q2.




  b)

Interest on loans increased by $1,539, this is attributed to the compounding effect of the quarterly interest calculation as the Company has not been making any payments on these debts.

     
  c)

Regulatory fees relate to fees charged by EDGAR/SEDAR regulatory filing service providers for making submissions to the regulatory authorities. In the 2012 Q2 period these fee decreased $3,037 due to a timing difference whereby more of these fees were incurred in Q1 compared to 2011 when these fees were mostly incurred in Q2.

Funding for operating and investing activities was provided by both non-interest and interest bearing advances and loans from related parties, including directors of the Company, and companies controlled by these directors.

As of June 30, 2012, the Company had total current assets of $685 and total liabilities of $1,529,825. The Company had cash of $185 and a working capital deficiency of $1,529,140 as of June 30, 2012 compared to cash on hand of $161 and a working capital deficiency of $1,443,461, for the year ended December 31, 2011. We anticipate that we will incur approximately $81,000 for cash operating expenses, including professional, legal and accounting expenses associated with our reporting requirements under the Exchange Act during the next twelve months. In addition to funding the Company’s general, administrative and corporate expenses the Company is obligated to address its current obligations totaling $1,529,825. To the extent that cash needs are not achieved from operating cash flow and existing cash on hand, the Company will be required to raise necessary cash through shareholder loans, equity issuances and/or other debt financing. Amounts raised will be used to continue the development of the Company's investment activities, and for other working capital purposes. Accordingly, we will need to obtain additional financing in order to continue our planned business activities.

Cash used in operating activities for the six month period ended June 30, 2012 was $53,194 as compared to cash used by operating activities for the same period in 2011 of $44,155. The increase in cash used in operating activities was primarily due to increases in: regulatory fees; partially offset by a reduction in foreign exchange losses and a increase in accounts payable.

The Company has the following loans outstanding as of June 30, 2012:

A $16,017 loan payable to a company controlled by a director of the Company including accrued interest of $9,215 (December 31, 2011 - $8,298). The loan is unsecured, bearing interest at 12% per annum and is repayable on demand.

$297,705 in loans payable to companies controlled by directors of the Company. These loans are unsecured, non-interest bearing, and repayable upon demand.

A $256,520 loan payable to a company controlled by a director of the Company, including accrued interest payable of $92,754 (December 31, 2011 - $80,426), pursuant to a Convertible Loan Agreement. The loan is unsecured, bearing interest at 10% per annum and is repayable on demand. The lender may at anytime convert the principal sum into units of the Company. Each unit will consist of one common share plus one common share purchase warrant. The principal sum of $163,766 may be converted into 2,320,858 units. Conversion of these loans and resulting associated warrants to equity will be based on the conversion price set at the time the principal amount was drawn ranging from $0.05 to $0.23. Upon conversion of this loan, warrants with a fair value of $73,685 will be recognized as an interest expense and credited to additional paid-in capital.

A $391,710 loan payable to a company controlled by a director of the Company, including accrued interest of $136,501 (December 31, 2011 - $117,676), pursuant to a Convertible Loan Agreement. The loan is unsecured, bearing interest at 10% per annum and is repayable on demand. The lender may at anytime convert the principal sum into units of the Company. Each unit will consist of one common share plus one common share purchase warrant. The principal sum of $255,209 may be converted into 4,526,436 units. Conversion of this loan and resulting associated warrants to equity will be based on the conversion price set at the time the principal amount was drawn ranging from $0.05 to $0.12. Upon conversion of this loan, warrants with a fair value of $113,338 will be recognized as an interest expense and credited to additional paid-in capital.

Going Concern

The unaudited financial statements accompanying this report have been prepared on a going concern basis, which implies that our company will continue to realize its assets and discharge its liabilities and commitments in the normal course of business. Our company has not generated revenues since inception and has never paid any cash dividends and is unlikely to pay cash dividends or generate earnings in the immediate or foreseeable future. The continuation of our company as a going concern is dependent upon the continued financial support from related party advances, the ability of our company to obtain necessary equity financing to achieve our operating objectives, and the attainment of profitable operations. As of June 30, 2012, we had cash of $185 and we estimate that we will require approximately $81,000 to fund our business operations over the next twelve months. In addition to funding the Company’s general, administrative and corporate expenses the Company is obligated to address its current obligations totalling $1,529,825. To the extent that cash needs are not achieved from operating cash flow and existing cash on hand, the Company will be required to raise necessary cash through shareholder loans, equity issuances and/or other debt financing. Amounts raised will be used to continue the development of the Company's investment activities, and for other working capital purposes.



Accordingly, we do not have sufficient funds for planned operations and we will be required to raise additional funds for operations after that date.

   

These circumstances raise substantial doubt about our ability to continue as a going concern, as described in the Note 1 of our June 30, 2012 unaudited financial statements. The financial statements do not include any adjustments that might result from the outcome of that uncertainty. The continuation of our business is dependent upon us raising additional financial support. The issuance of additional equity securities by us could result in a significant dilution in the equity interests of our current stockholders. Obtaining commercial loans, assuming those loans would be available, will increase our liabilities and future cash commitments.

   

There are no assurances that we will be able to obtain further funds required for our continued operations. We are pursuing various financing alternatives to meet our immediate and long-term financial requirements. There can be no assurance that additional financing will be available to us when needed or, if available, that it can be obtained on commercially reasonable terms. If we are not able to obtain the additional financing on a timely basis, we will be forced to scale down or perhaps even cease the operation of our business.

   

Future Financings

   

As of June 30, 2012, we had cash of $185 and we estimate that we will require approximately $81,000 to fund our business operations over the next twelve months. In addition to funding the Company’s general, administrative and corporate expenses the Company is obligated to address its current obligations totaling $1,529,825. Accordingly, we do not have sufficient funds for planned operations and we will be required to raise additional funds for operations after that date. We anticipate continuing to rely on equity sales of our common shares or shareholder loans in order to continue to fund our business operations. Issuances of additional shares will result in dilution to our existing stockholders. 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 activities.

   

Off-balance sheet arrangements

   

As of the date of this Report, the Company does not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on the company's financial condition, change in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors. The term "off-balance sheet arrangement" generally means any transaction, agreement, or other contractual arrangement to which an entity unconsolidated with the Company is a party under which the Company has (i) any obligation arising under a guarantee contract, derivative instrument or variable interest; or (ii) a retained or contingent interest in assets transferred to such entity or similar arrangement that serves as credit, liquidity or market risk support for such assets.

   
3.

Quantitative and Qualitative Disclosures About Market Risk

   

The Company has no market risk sensitive instruments.

   
4.

Controls and Procedures

   

As required by Rule 13(a)-15 under the Exchange Act, in connection with this quarterly report on Form 10-Q, under the direction of our Chief Executive Officer and Chief Financial Officer, we have evaluated our disclosure controls and procedures as of June 30, 2012, our disclosure controls and procedures were ineffective. As of the date of this filing, we are still in the process of remediating such material weaknesses in our internal controls and procedures. Additionally, we are currently inactive as we seek new business opportunities.



It should be noted that while our management believes our disclosure controls and procedures provide a reasonable level of assurance, they do not expect that our disclosure controls and procedures or internal controls will prevent all error and all fraud. A control system, no matter how well conceived or operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within our company have been detected. These inherent limitations include the realities that judgments in decision making can be faulty, and that breakdowns can occur because of simple error or mistake. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people, or by management override of the controls. The design of any system of internal control is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions. Over time, controls may become inadequate because of changes in conditions, or the degree of compliance with the policies or procedures may deteriorate. Because of the inherent limitations in a cost-effective control system, misstatements due to error or fraud may occur and not be detected.

There were no changes in our internal control over financial reporting during the period ended June 30, 2012 that have materially affected or are reasonably likely to materially affect, our internal control over financial reporting.


Part II – Other Information

1.

Legal Proceedings

     

None

     
1.

A Risk Factors

     

Not applicable

     
2.

Unregistered Sales of Equity Securities

     

Sales of Securities Without Registration Under the Securities Act of 1933

     

On August 10, 2003 the Company entered into a Convertible Loan Facility Agreement with Star Leisure & Entertainment Inc. (“Star Leisure”), a company controlled by a Director and Officer of Strategic, whereby the Company would, from time to time, borrow operating funds from Star Leisure, at an interest rate of 10%, repayable on demand. The lender has the right to convert all or part of the principal sum into units at a conversion rate which is calculated at a discount to the average closing market price for ten days preceding a loan advance. Each unit consists of one common share of the Company and one non-transferable share purchase warrant, expiring 2 years from the conversion date, exercisable at the applicable conversion rate. On August 31, 2008 the Company entered into agreements to transfer previous advances and accrued interest to convertible loans under the Convertible Loan Facility Agreement. At June 30, 2012, the Star Leisure loan principal was $255,209. The loan principal is convertible into 4,526,436 units at conversion price ranging from $0.05 to $0.12 as set at the time the principal was borrowed. Star Leisure has not converted any part of the principal sums advanced into units as of June 30, 2012. This transaction is with an offshore non-U.S. person; accordingly, these securities are exempt from registration pursuant to Regulation S.

     

On May 5, 2006 the Company entered into a Convertible Loan Facility Agreement with CMB Investments Ltd. (“CMB”), a company controlled by a Director of Strategic, whereby the Company would, from time to time, borrow operating funds from CMB, at an interest rate of 10%, repayable on demand. The lender has the right to convert all or part of the principal sum into units at a conversion rate which is calculated at a discount to the average closing market price for ten days preceding a loan advance. Each unit consists of one common share of the Company and one share purchase warrant, expiring 2 years from the conversion date, exercisable at the applicable conversion rate. At June 30, 2012, the CMB loan principal was $163,766. The loan principal is convertible into 2,320,858 units. Conversion of this loan and associated warrants to equity will be at a price ranging from $0.05 to $0.23. CMB has not converted any part of the principal sums advanced into units as of June 30, 2012. This transaction is with an offshore non-U.S. person; accordingly, these securities are exempt from registration pursuant to Regulation S.

     

Purchase of Equity Securities by the Issuer and Affiliated Purchasers

     

We did not purchase any of our shares of common stock or other securities during the period ended June 30, 2012.

     
3.

Defaults Upon Senior Securities

     

-

None

     
4.

Submission of Matters to a Vote of Security Holders

     

-

None

     
5.

Other Information

     

-

None




6.

Exhibits


  Table of Exhibit    
  Items Description Exhibit
       
  601-3(i) Articles of Incorporation Note 1
  601-(3)(ii) Bylaws Note 1
  601-(3)(iii) Certificate of Amendment Note 1
  601-(10) Stock Award Plan Note 2
  601-(31) Rule 13a-14(a)/15d-14(a) Certifications Exhibit 31.1
  601-(32) Section 1350 Certifications Exhibit 32.1

 
              Note 1:

Incorporated by reference to Form 10-KSB Annual Report for the year ending December 31, 2001

 
              Note 2:

Incorporated by reference to Form 10-KSB Annual Report for the year ending December 31, 2002

SIGNATURES

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.

        Strategic Internet Investments, Incorporated
         
         
         
  Date: August 15, 2012   /s/ Abbas Salih
        Abbas Salih, CEO, CFO, Director


PINX:SIII Strategic Internet Investments Inc Quarterly Report 10-Q Filling

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PINX:SIII Strategic Internet Investments Inc Quarterly Report 10-Q Filing - 6/30/2012
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