XOTC:ABBYD Quarterly Report 10-Q Filing - 8/31/2012

Effective Date 8/31/2012

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)
x Quarterly Report Pursuant To Section 13 Or 15(d) Of The Securities Exchange Act Of 1934

For the quarterly period ended August 31, 2012

¨ Transition Report Under Section 13 Or 15(d) Of The Securities Exchange Act Of 1934

For the transition period ________ to ________

                                             COMMISSION FILE NUMBER 333-170918

ABBY, INC.
(Exact name of small business issuer as specified in its charter)

Colorado

Applied for

(State or other jurisdiction of incorporation or

(IRS Employer Identification No.)

organization)

 

  60 Auburn Bay Ave SW

                                                                               Calgary, Alberta  T3M 0K7

                                                                         (403)922-4583

 

 

(Address of principal executive offices)

 

Not Applicable
(Former name, former address and former fiscal year, if changed since last report)              

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 twelve months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes  ¨ No¨

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

State the number of shares outstanding of each of the issuer's classes of common equity, as of
the latest practicable date: As of August 31, 2012 the Issuer had 20,400,000 Shares of
Common Stock outstanding.

Transitional Small Business Disclosure Format (check one): Yes ¨ No X





PART I - FINANCIAL INFORMATION

ITEM 1.                FINANCIAL STATEMENTS.

The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Regulation S-X, and, therefore, do not include all information and footnotes necessary for a complete presentation of financial position, results of operations, cash flows, and stockholders' equity in conformity with generally accepted accounting principles. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature.

As used in this Quarterly Report, the terms "we", "us", "our", the “Company” and “Abby” mean Abby, Inc. and its subsidiaries unless otherwise indicated. All dollar amounts in this Quarterly Report are in U.S. dollars unless otherwise stated.


















                                                                                2


ABBY, INC.

(An Exploration Stage Company)

BALANCE SHEETS

 

 

 

 

 

 

 

(Unaudited)

August 31, 2012

 


November 30, 2011

ASSETS

 

 

Current Assets:

 

 

 

 

   

   Cash

$

                         -   

$

 

   

   Prepaid expense

 

                   2,930

 

                            7,000

 

 

 

 

 


Total Current Assets

 

                 2,930

 

                            7,000

 

 

 

 

 


TOTAL ASSETS

$

                   2,930

$

                           7,000

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

 

 

 

 

Current Liabilities:

 

 

 

 


Accounts payable and accrued expenses

$

                      1,075

 $

                            4,743


TOTAL CURRENT LIABILITIES

 

                      1,075

 

                            4,743

 

 

 

 

 


Commitments and contingencies

 

                         -   

 

                                 -   


Stockholders’ Equity:

 

 

 

 

Preferred stock, $0.001 par value, 25,000,000 shares authorized,  none issued and outstanding

 

                         -   

 

                                 -   

Common stock, $0.001 par value, 500,000,000 shares authorized; 20,400,000 and 19,500,000 shares issued and outstanding at August 31, 2012, and November 30, 2011, respectively

 

                 20,400

 

                          19,500


Additional paid in capital

 

                 97,600

 

                          95,500


Deficit accumulated during the exploration stage

 

             (116,145)

 

                      (112,743)


TOTAL STOCKHOLDERS’ EQUITY

 

1,855

 

                            2,257

 

 

 

 

 

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

$

2,930

$

                            7,000



The accompanying Notes are an integral part of these financial statements

F-1




ABBY, INC.

(An Exploration Stage Company)

STATEMENTS OF OPERATIONS

(Unaudited)

 

 

Three

months ended

Three months ended

Nine months ended

Nine months ended

From Inception (December 11, 2000)

to

 

 

31-August-12

31-August-11

31- August-12

31-August-11

31-August-12

 

 

 

 

 

 

 

 

Revenues

                                         

 

                                          

 

                                             

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

General & administrative

3,134

112

3,402

36,595

94,145

 

Impairment loss on oil and gas lease

                                         -   

 

                                       -   

 

22,000

 

  Total operating expenses

3,134

112

3,402

36,595

116,145

 

 

 

 

 

 

 

 

Net loss before income taxes

(3,134)

(112)

(3,402)

(36,595)

(116,145)

 

 

 

 

 

 

 

 

Benefit for income taxes

                                       -   

 

                                       -   

 

                                          -   

 

 

 

 

 

 

 

 

Net loss

(3,134)

(112)

(3,402)

(36,595)

(116,145)

 

 

 

 

 

 

 

 

Weighted average number of shares outstanding - basic and diluted

20,400,000

19,500,000

20,400,000

18,333,333

 

 

 

 

 

 

 

 

 

Net loss per share - basic and diluted

0

0

0

0

 




The accompanying Notes are an integral part of these financial statements













 

ABBY, INC.

 

(An Exploration Stage Company)

 

STATEMENTS OF CASH FLOWS

(Unaudited)

 

 

Nine months ended

 

Nine months ended

 

From Inception (December 11, 2000) to

 

 

August 31, 2012

 

August 31, 2011

 

August 31, 2012

 

 

 

 

 

 

 

CASH FLOWS FROM OPERATING ACTIVITIES:

 

 

 

 

 

 


Net loss

$

                                     (3,402)

 

                            (36,595)

 

                         (116,145)


Adjustments to reconcile net loss to net cash used in operating activities:

 

 

 

 

 

 

Impairment loss on oil and gas lease

 

                                         -   

 

 

 

                            22,000

Common stock issued for services

 

                                         3,000  

 

 

 

                            23,000

Changes in operating assets and liabilities:

 

 

 

 

 

 

Prepaid expense

 

4,070

 

 

 

                             (2,930)

Net change in accounts payable and accrued expenses

 

                                      (3,668)

 

449

 

                              1,075


Net cash used in operating activities

 

                                         -   

 

                            (36,146)

 

                           (73,000)

 

 

 

 

 

 

 

CASH FLOWS FROM INVESTING ACTIVITIES:

 

 

 

 

 

 

Payments for oil and gas lease

 

                                         -   

 

 

 

                             (7,000)

Net cash used in financing activities

 

                                         -   

 

 

 

                             (7,000)

CASH FLOWS FROM FINANCING ACTIVITIES:

 

 

 

 

 

 

Proceeds from subscriptions of common stock

 


-

 

35,000

 

                            80,000


Net cash provided by financing activities

 

                                         


-   

 

                             


35,000

 

        

                         80,000


CHANGE IN CASH

 

                                         -  

 

                              (1,146)

 

                                 -


CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD

 

                                         -   

 

                               1,388

 

                                    -   

 

 

 

 

 

 

                                    -   

CASH AND CASH EQUIVALENTS AT END OF PERIOD

$

                                         -   

 

                                  242

 

                                 -

 

 

 

 

 

 

                                      -

Supplemental disclosures of cash flow information:

 

 

 

 

 

                                      -

Cash paid for income taxes

$

                                         -   

 

                                     -   

 

                                      -

Cash paid for interest expense

$

                                         -   

 

                                     -   

 

                                    -   

 

 

 

 

 

 

 

Supplemental disclosure of non cash financing activities:

 

 

 

 

 

 

Common Stock issued for services

$

3,000 

 

 

 

                            23,000

Common Stock issued for oil and gas lease

$

 

 

 

 

                            15,000



The accompanying Notes are an integral part of these financial statements





































Abby, Inc.

(An Exploration Stage Company )

NOTES TO THE FINANCIAL STATEMENTS

August 31, 2012

(UNAUDITED)


NOTE 1 – NATURE OF OPERATIONS AND BASIS OF PRESENTATION


Abby, Inc. (the “Company”) was incorporated under the laws of the State of Colorado on Dec 11, 2000.  The Company was dormant until July 2009, when it entered into an agreement to acquire an oil and gas lease in Thailand. The Company is “an exploration stage company” and has formulated a business plan to investigate the possibilities of a viable gas deposit.  The Company has adopted November 30th as its fiscal year end.  


The results of operations for the interim periods are not necessarily indicative of the results for the full year. In management’s opinion all adjustments necessary for a fair presentation of the Company’s financial statements are reflected in the interim periods included, and are of a normal recurring nature.



NOTE 2 –SIGNIFICANT ACCOUNTING POLICIES


CASH AND CASH EQUIVALENTS


The Company considers all highly liquid debt instruments purchased with maturity of three months or less to be cash equivalents.


REVENUE RECOGNITION


The Company considers revenue to be recognized at the time the service is performed.


USE OF ESTIMATES


The preparation of the Company’s financial statements requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes.  Actual results could differ from these estimates.


FAIR VALUE OF FINANCIAL INSTRUMENTS


The Company’s short-term financial instruments consist of cash and cash equivalents and accounts payable.  The carrying amounts of these financial instruments approximate fair value because of their short-term maturities.  Financial instruments that potentially subject the Company to a concentration of credit risk consist principally of cash.  During the year the Company did not maintain cash deposits at financial institution in excess of the $100,000 limit covered by the Federal Deposit Insurance Corporation.  The Company does not hold or issue financial instruments for trading purposes nor does it hold or issue interest rate or leveraged derivative financial instruments.


INVESTMENT IN OIL AND NATURAL GAS PROPERTIES


The Company follows the successful efforts method of accounting and will capitalize successful wells and related leasehold costs. Acquisition costs for proved and unproved properties are capitalized when incurred. Exploration costs, including geological and geophysical costs, the costs of carrying and retaining unproved properties and exploratory dry hole costs are expensed. Development costs, including costs to drill and equip development wells and successful exploratory drilling costs to locate proved reserves are capitalized.


These costs are amortized using the unit of production method.  Dry hole and related leasehold costs are expensed.


IMPAIRMENT OF LONG-LIVED ASSETS


The Company reviews and evaluates long-term assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable.  The assets are subject to impairment consideration under ASC 360-10-35-17 if events or circumstances indicate that their carrying amount might not be recoverable.   When the Company determines that an impairment analysis should be done, the analysis will be performed using the rules of ASC 930-360-35 Asset Impairment, and 360-10-15-3 through 15-5, Impairment or Disposal of Long-Term Assets.


NET INCOME PER COMMON SHARE


Basic net income per common share (“EPS”) is computed by dividing net income available to common stockholders by the weighted average number of common stock shares outstanding during the year.  Diluted EPS is computed by dividing net income available to common stockholders by the weighted-average number of common stock shares outstanding during the year plus potential dilutive instruments such as stock options and warrants.  The effect of stock options and warrants on diluted EPS is determined through the application of the treasury stock method, whereby proceeds received by the Company based on assumed exercises are hypothetically used to repurchase the Company’s common stock at the average market price during the period. Net loss per common share is unchanged on a diluted basis as the Company does not have any common stock equivalents outstanding as of August 31, 2012.


INCOME TAXES


The Company uses the asset and liability method of accounting for income taxes, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the tax basis of certain assets and liabilities.  Deferred income tax assets and liabilities are computed annually for the difference between the financial statement and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income.  Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized.  Income tax expense is the tax payable or refundable for the period, plus or minus the change during the period in deferred tax assets and liabilities.


Deferred income taxes may arise from temporary differences resulting from income and expanse items reported for financial accounting and tax purposes in different periods.  Deferred taxes are classified as current or non-current, depending on the classification of the assets and liabilities to which they relate.  Deferred taxes arising from temporary differences that are not related to an asset or liability are classified as current or non-current depending on the periods in which the temporary differences are expected to reverse.  As of August 31, 2012, the Company had a net operating loss carryforward of $116,145. The related deferred tax asset of approximately $39,000 has been fully offset by a valuation allowance due to the uncertainty of the Company being able to realize the benefit in future years.


CONCENTRATION OF CREDIT RISK


The Company does not have any concentration of financial credit risk.


RECENT ACCOUNTING PRONOUNCEMENTS


The Company does not expect that the adoption of any recent accounting pronouncements will have a material impact to its financial statements.


NOTE 3 – OIL AND GAS LEASE


The Company purchased an oil & gas lease located in Phetchabun, Thailand on July 17, 2009.  The Company purchased this lease by issuing 3,000,000 shares of common stock valued at $.005 per share for an aggregate value of $15,000 (to a related party).  As no viable reserves have been identified, management recorded an impairment loss for $15,000 during the year ended November 30, 2009.  This amount has been reflected in the statement of operations as an impairment loss on oil and gas lease.


In May of 2010, the Company paid $6,000 to Mitchell Vestco (a related party) of Calgary, Alberta, to secure a gas field in Westerose, Alberta.  As no viable reserves have been identified, management recorded an impairment loss for $6,000 during the quarter ended June 9, 2010. In July, 2010, another $1,000 was paid to complete the deposit requirement for this gas field. This amount was also impaired due to lack of identifying viable reserves.



NOTE 4 – STOCKHOLDERS’ EQUITY


The Company has authorized 25,000,000 shares of preferred stock, with a par value of $.001 per share. There are no preferred shares issued and outstanding at August 31, 2012.


The Company issued 4,000,000 shares of its common stock, to its President, in July 2009 in exchange for services rendered, valued at $20,000.


As identified above in Footnote 3, the Company issued 3,000,000 shares of its common stock in July 2009 to acquire the Phetchabun oil and gas lease, valued at $15,000.


During November 2009 the Company issued 9,000,000 shares of its common stock at $.005 per share for a total of $45,000 in cash.


During February 2011 the Company issued 3,500,000 shares of its common stock at $.01 per share for a total of $35,000 in cash.


The Company issued 900,000 shares of its common stock, to its President, on August 24, 2012, in exchange for services rendered. The Company recorded this transaction based on the value of the services provided, of $3,000.


NOTE 5 – RELATED PARTY TRANSACTIONS


In May of 2010, the Company paid $6,000 to Mitchell Vestco (a related party through common principal owners) of Calgary, Alberta, to secure a gas field in Westrose, Alberta.  As no viable reserves have been identified, management recorded an impairment loss for $6,000 during the quarter ended June 9, 2010. In July, 2010, another $1,000 was paid to complete the deposit requirement for this gas field. This amount was also impaired due to lack of identifying viable reserves.


A Director of the Company, and principal owner, was paid $5,000 for consulting fees in December 2009, and was also the party from whom the Company acquired the Phetchabun lease as identified above in Footnote 3, through the issuance of 3,000,000 shares of common stock.


The Company issued 900,000 shares of its common stock, to its President, in August 2012 in exchange for services rendered. The Company recorded this transaction based on the value of the services provided, of $3,000.



NOTE 6 – GOING CONCERN


The accompanying financial statements have been prepared assuming the Company will continue as a going concern.  As shown in the accompanying financial statements, the Company has no sales and has incurred a net loss of $114,045 since inception, which raises substantial doubt about its ability to continue as a going concern. The future of the Company is dependent upon its ability to obtain financing and upon future profitable operations from the development of its gas properties.  Management has plans to seek additional capital through a private placement and public offering of its common stock. The financial statements do not include any adjustments relating to the recoverability and classifications of recorded assets, or the amounts of and the classification of liabilities that might be necessary in the event the Company cannot continue in existence.
















ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS


FORWARD-LOOKING STATEMENTS


This Management's Discussion and Analysis or Plan of Operation (MD&A) contains forward-looking statements that involve known and unknown risks, significant uncertainties and other factors that may cause our 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 those forward-looking statements.  You can identify forward-looking statements by the use of the words may, will, should, could, expects, plans, anticipates, believes, estimates, predicts, intends, potential, proposed, or continue or the negative of those terms.  These statements are only predictions. In evaluating these statements, you should specifically consider various factors, including the risk factors outlined below.  These factors may cause our actual results to differ materially from any forward-looking statements.  Although we believe that the exceptions reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements.  Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements.  We undertake no obligation to revise or update publicly any forward-looking statements for any reason.


RESULTS OF OPERATIONS


Working Capital

 

 

 

 

  

  

At August 31, 2012

At November 30, 2011 

Current Assets

$                           2,930

$                           7,000

Current Liabilities

$                           1,075

$                           4,743

Working Capital (Deficit)

$                           1,855

$                           2,257


Cash Flows


 

Nine Months Ended

Nine Months Ended

  

August 31, 2012

August 31, 2011

Cash Flows from (used in) Operating Activities

$                  -

$                   (36,146)

Cash Flows from (used in) Investing Activities

$                   -

$                      (0)

Cash Flows from (used in) Financing Activities

$                    -

$                     35,000

Net Increase (decrease) in Cash During Period

$                  -

$                      (1,146)


The decrease in our working capital at August 31, 2012 from  the period ended November 30, 2011 is reflective of the current state of our business development, primarily due to our inability secure funding, which allowed for the decrease in our exploration activities and professional fees paid in connection with expenses associated with our continuing reporting obligations under the Securities and Exchange Act of 1934.


As of August 31, 2012, we had cash on hand of 0. Since our inception, we have used our common stock to raise money for our operations and for our property acquisitions. We have not attained profitable operations and are dependent upon obtaining financing to pursue our plan of operation.



 

Operating Revenues


We have not generated any revenues since inception.


Operating Expenses and Net Loss

For the three and nine months ended August 31, 2012 and 2011


Operating expenses and the net loss for the nine month period ended August 31, 2012 was $3,402 compared with $36,595 for the same period ended August 31, 2011. This decrease is reflective of the current state of our business development, primarily due to our inability secure funding.


Operating expenses and the net loss for the three month period ended August 31, 2012 was $3,134 compared with $112 for the same period ended August, 2011. This increase was mainly related to the issuance of 900,000 shares of stock to our President for services rendered (valued at $3,000).


Liquidity and Capital Resources


As at August 31, 2012 and November 30, 2011, the Company’s cash balance was $0.


As at August 31, 2012, the Company had total liabilities of $1,075 compared to total liabilities of $4,743 as at November 30, 2011.


Cash flows from Operating Activities


During the nine month period ended August 31, 2012, the Company used $0 cash in operating activities compared to the use of $36,146 for the nine month period ended August 31, 2011. This decrease is mainly due to the decrease in net loss.

 

Cash flows from Investing Activities


During the nine month periods ended August 31, 2012 and August 31, 2012, the Company had no cash flows from investing activities.


Cash flows from Financing Activities


During the nine month period ended August 31, 2012, the Company had no cash flow from the issuance of stock compared to cash flow provided of $35,000 from the issuance of stock, for the nine month period ended August 31, 2011.



Going Concern


We have not attained profitable operations and are dependent upon obtaining financing to pursue any extensive acquisitions and activities. For these reasons, our auditors stated in their report on our audited financial statements that they have substantial doubt that we will be able to continue as a going concern without further financing. 


Future Financings


We will continue to rely on equity sales of our common shares in order to continue to fund our business operations. Issuances of additional shares will result in dilution to existing stockholders. There is no assurance that we will achieve any additional sales of the equity securities or arrange for debt or other financing to fund planned acquisitions and exploration activities.



Off-Balance Sheet Arrangements


We have no significant 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 are material to stockholders.



Critical Accounting Policies


We have identified certain accounting policies, described below, that are most important to the portrayal of our current financial condition and results of operations. Our significant accounting policies are disclosed in the notes to the audited financial statements included in this Quarterly Report.


Use of Estimates


The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes for the reporting period. Significant areas requiring the use of management estimates relate to the valuation of its properties.


Exploration Stage Enterprise


Our financial statements are prepared using the accrual method of accounting. We devote substantially all of our efforts to acquiring and exploring properties. Until such properties are acquired and developed, we will continue to prepare our financial statements and related disclosures in accordance with entities in the exploration stage.


Investment in oil and natural gas properties


The Company follows the successful efforts method of accounting and will capitalize successful wells and related leasehold costs. Acquisition costs for proved and unproved properties are capitalized when incurred. Exploration costs, including geological and geophysical costs, the costs of carrying and retaining unproved properties and exploratory dry hole costs are expensed. Development costs, including costs to drill and equip development wells and successful exploratory drilling costs to locate proved reserves are capitalized.


These costs are amortized using the unit of production method.  Dry hole and related leasehold costs are expensed.


Impairment of long-lived assets


The Company reviews and evaluates long-term assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable.  The assets are subject to impairment consideration under ASC 360-10-35-17 if events or circumstances indicate that their carrying amount might not be recoverable.   When the Company determines that an impairment analysis should be done, the analysis will be performed using the rules of ASC 930-360-35 Asset Impairment, and 360-10-15-3 through 15-5, Impairment or Disposal of Long-Term Assets.






Recent Accounting Pronouncements


The Company does not expect the adoption of any recent accounting pronouncements to have a material impact on its financial statements.


ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK


We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.


ITEM 4. CONTROLS AND PROCEDURES


Disclosure Controls and Procedures


We maintain disclosure controls and procedures, as defined in Rule 13a-15(e) promulgated under the Securities Exchange Act of 1934 (the "Exchange Act"), that are designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.


We carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures as of August 31, 2012. Based on the evaluation of these disclosure controls and procedures, and in light of the material weaknesses found in our internal controls over financial reporting, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were not effective.  Please refer to our Annual Report on Form 10-K as filed with the SEC on November 30, 2011, for a complete discussion relating to the foregoing evaluation of Disclosures and Procedures.


Management’s Annual Report on Internal Control Over Financial Reporting


Our management is responsible for establishing and maintaining adequate control over financial reporting (as defined in Rule 13a-15(f) promulgated under the Exchange Act. Our management assessed the effectiveness of our internal control over financial reporting as of November 30, 2010. In making this assessment, our management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission ("COSO") in Internal Control-Integrated Framework. Our management has concluded that, as of August 31, 2012, our internal control over financial reporting is not effective based on these criteria, due to material weaknesses resulting from not having an Audit Committee or financial expert on our Board of Directors and our failure to maintain appropriate cash controls.  

Changes In Internal Control and Financial Reporting

 

Our management has also evaluated our internal control over financial reporting, and there have been no significant changes in our internal controls or in other factors that could significantly affect those controls subsequent to the date of our last evaluation.


The Company is not required by current SEC rules to include, and does not include, an auditor's attestation report. The Company's registered public accounting firm has not attested to Management's reports on the Company's internal control over financial reporting.


Part II OTHER INFORMATION


Item 1.    Legal Proceedings


None


Item 2.    Changes in Securities


None


   Item 3.     Defaults Upon Senior Securities


Not Applicable


Item 5. Other Information


Not Applicable


Item 6.  Exhibits and Reports on Form 8K



Exhibit  31.1  Certification pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 302 and 906 of the Sarbanes-Oxley Act of 2003.


Exhibit 31.2 Certification pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 302 and 906 of the Sarbanes-Oxley Act of 2003.


Exhibit 32.2  Certifications of CEO And CFO Pursuant To Section 906 Of The Sarbanes-Oxley Act


SIGNATURES


In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.


Abby Inc.


Dated September 14, 2012  


/s/ Thomas Forzani

     Thomas Forzani, President, Director and Chief Executive Officer, Secretary/Treasurer, and Principal Accounting Officer


/s/ Don Thompson

     Don Thompson, Director,





XOTC:ABBYD Quarterly Report 10-Q Filling

XOTC:ABBYD Stock - Get Quarterly Report SEC Filing of XOTC:ABBYD stocks, including company profile, shares outstanding, strategy, business segments, operations, officers, consolidated financial statements, financial notes and ownership information.

XOTC:ABBYD Quarterly Report 10-Q Filing - 8/31/2012
Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol |  Title Star Rating |  Category |  Total Assets |  Top Holdings |  Top Sectors |  Symbol |  Name Title |  Date |  Author |  Collection |  Interest |  Popularity Topic |  Sector |  Key Indicators |  User Interest |  Market Cap |  Industry Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol / Ticker |  Title Star Rating |  Category |  Total Assets |  Symbol / Ticker |  Name Title |  Date |  Author |  Collection |  Popularity |  Interest Title |  Date |  Company |  Symbol |  Interest |  Popularity Topic |  Sector |  Key Indicators |  User Interest |  Market Cap |  Industry Title |  Date |  Company |  Symbol |  Interest |  Popularity

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