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 September 30, 2009.

or


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


For the transition period from _______________________ to ___________________________


Commission File Number: 33-2783-S


FRAMEWAVES, INC.

(Exact name of registrant as specified in its charter)


Nevada

82-0404220

(State or other jurisdiction of incorporation or organization)

(I.R.S. Employer Identification No.)

 

 

1981 East 4800 South, Suite 100 Salt Lake City, UT

84117

(Address of principal executive offices)

(Zip Code)


(801) 272-9294

(Registrant’s telephone number, including area code)


_______________________________________________________

(Former name, former address and former fiscal year, if changed since last report)


Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 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.   X . Yes      .  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 (§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.


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).  X . Yes      .  No


APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY

PROCEEDINGS DURING THE PRECEDING FIVE YEARS:


Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court.      . Yes      .  No


APPLICABLE ONLY TO CORPORATE ISSUERS:


Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of September 30, 2009: 1,258,994




PART I - FINANCIAL INFORMATION


ITEM 1. FINANCIAL STATEMENTS


The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows at September 30, 2009 and 2008 and for the periods then ended have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s December 31, 2008 audited financial statements. The results of operations for the periods ended September 30, 2009 and 2008 are not necessarily indicative of the operating results for the full year.




2



FRAMEWAVES, INC.


(A Development Stage Company)


TABLE OF CONTENTS


 

Page

 

 

Financial Statements:

4

 

 

Balance Sheets

5

 

 

Statements of Operations

6

 

 

Statements of Cash Flows

7

 

 

Notes to Financial Statements

8



3



FRAMEWAVES, INC.


(A Development Stage Company)


BALANCE SHEETS


SEPTEMBER 30, 2009 AND DECEMBER 31, 2008


 

 

September 30,

 

December 31,

Assets

 

2009

 

2008

 

 

 

 

 

Current Assets:

 

 

 

 

Cash

$

7

$

298

 

 

 

 

 

Total current assets

 

77

 

298

 

 

 

 

 

Total Assets

$

77

$

298

 

 

 

 

 

Liabilities and Stockholders' Deficit

 

 

 

 

 

 

 

 

 

Current Liabilities:

 

 

 

 

Accounts payable

$

6,795

$

6,335

Accrued interest, stockholder

 

3,490

 

2,591

Note payable, stockholder

 

15,000

 

15,000

 

 

 

 

 

Total current liabilities

 

25,285

 

23,926

 

 

 

 

 

Stockholders' Deficit:

 

 

 

 

Common stock, $.001 par value

 

 

 

 

100,000,000 shares

 

 

 

 

 authorized, 1,258,994

 

 

 

 

 issued and outstanding

 

1,259

 

1,259

Additional paid-in capital

 

49,167

 

42,367

Deficit accumulated during the

 

 

 

 

development stage

 

(75,634)

 

(67,254)

 

 

 

 

 

Total stockholders' deficit

 

(25,208)

 

(23,628)

 

 

 

 

 

Total Liabilities and Stockholders'

 

 

 

 

Deficit

$

77

$

298


The accompanying notes are an integral part of the financial statements.



4



FRAMEWAVES, INC.

(A Development Stage Company)


STATEMENTS OF OPERATIONS


FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2009 AND 2008

AND THE PERIOD DECEMBER 31, 1993 (Quasi-Reorganization)

THROUGH SEPTEMBER 30, 2009


 

 

 

 

 

 

 

 

 

 

For The Period

 

 

 

 

 

 

 

 

 

 

December 31,

 

 

 

 

 

 

 

 

 

 

1993

 

 

For The

 

For The

 

For The

 

For The

 

(Quasi-

 

 

Three Months

 

Three Months

 

Nine Months

 

Nine Months

 

Reorganization)

 

 

Ended

 

Ended

 

Ended

 

Ended

 

Through

 

 

September 30,

 

September 30,

 

September 30,

 

September 30,

 

September 30,

 

 

2009

 

2008

 

2009

 

2008

 

2009

 

 

 

 

 

 

 

 

 

 

 

Revenues

$

--

$

--

$

--

$

--

$

1,267

 

 

 

 

 

 

 

 

 

 

 

Expenses, general and administrative

 

2,991

 

1,124

 

7,481

 

5,212

 

73,411

 

 

 

 

 

 

 

 

 

 

 

Operating Loss

 

(2,991)

 

(1,124)

 

(7,481)

 

(5,212)

 

(72,144)

 

 

 

 

 

 

 

 

 

 

 

Other Income

 

 

 

 

 

 

 

 

 

 

(Expense):

 

 

 

 

 

 

 

 

 

 

Interest expense

 

(300)

 

(300)

 

(900)

 

(885)

 

(3,490)

 

 

 

 

 

 

 

 

 

 

 

Net Loss

$

(3,291)

$

(1,424)

$

(8,381)

$

(6,097)

$

(75,634)

 

 

 

 

 

 

 

 

 

 

 

Net Loss per Share

$

--

$

--

$

(.01)

$

--

$

(.11)

 

The accompanying notes are an integral part of the financial statements.



5



FRAMEWAVES, INC.

(A Development Stage Company)


STATEMENTS OF CASH FLOWS

 

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2009 AND 2008

AND THE PERIOD DECEMBER 31, 1993 (Quasi-Reorganization)

THROUGH SEPTEMBER 30, 2009


 

 

 

 

 

 

For the period

 

 

 

 

 

 

December 31,

 

 

 

 

 

 

1993

 

 

For the

 

For the

 

(Quasi-

 

 

Nine Months

 

Nine Months

 

Reorganization)

 

 

Ended

 

Ended

 

Through

 

 

September 30,

 

September 30,

 

September 30,

 

 

2009

 

2008

 

2009

Cash flows from  operating activities:

 

 

 

 

 

 

Net loss

$

(8,381)

$

(6,097)

$

(75,634)

Adjustments to reconcile net income to cash provided by operating activities:

 

 

 

 

 

 

Contribution from shareholder

 

6,800

 

--

 

32,516

Common stock issued for services

 

--

 

--

 

5,000

Increase in accounts payable and accrued interest

 

1,360

 

2,379

 

10,285

Net cash used by operating activities

 

(221)

 

(3,718)

 

(27,833)

Cash flows from investing activities:

 

 

 

 

 

 

Cash received in acquisition of subsidiary

 

--

 

--

 

910

Cash flows from financing activities:

 

 

 

 

 

 

Issuance of common stock

 

--

 

--

 

12,000

Proceeds from related party note payable

 

--

 

2,228

 

15,000

Net cash provided by financing activities

 

--

 

2,228

 

27,000

Net increase (decrease) in cash

 

(221)

 

(1,490)

 

77

Cash, beginning of period

 

298

 

2,422

 

--

Cash, end of period

$

77

$

932

$

77

Interest paid

$

--

$

--

$

--

Income taxes paid

$

--

$

--

$

--


The accompanying notes are an integral part of the financial statements.



6



FRAMEWAVES, INC.


(A Development Stage Company)


NOTES TO FINANCIAL STATEMENTS


1.

Summary of Business and Significant Accounting Policies


a.

Summary of Business


The Company was incorporated under the laws of the State of Nevada on December 23, 1985. The Company was formed to pursue business opportunities. The Company was unsuccessful in its operations. During 1993, Management determined it was in the best interest of the Company to discontinue its previous operations. The Company is considered to have re-entered into a new development stage on December 31, 1993. Because the Company discontinued its previous operations and is selling new potential business opportunities, the Company adopted quasi-reorganization accounting procedures to provide the Company a “fresh start” for accounting purposes.


The Company has not commenced principal operations and is considered a "Development Stage Company" as defined by the Financial Accounting Standards Board No. 7.


b.

Cash Flows


For purposes of the statement of cash flows, the Company considers all highly liquid investments purchased with a maturity of three months or less to be cash or cash equivalents.


c.

Net Loss Per Share


The net loss per share calculation is based on the weighted average number of shares outstanding during the period.


d.

Use of Estimates


The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.


e.

Revenue Recognition


Revenue is recognized on the accrual basis of accounting when earned. The Company's primary business generated revenue from picture framing. The Company has not had any revenue since 2001.


f.

Fair Value of Financial Instruments


The amounts reported for cash and accounts payable and other financial instruments, none of which are held for trading purposes, are considered to approximate fair values based upon comparable market information available at the respective balance sheet date.


2.

Quasi-Reorganization


December 7, 2000, the shareholders of the Company approved to adopt quasi-reorganization accounting procedures. Quasi-reorganization accounting allowed the Company to eliminate its previous accumulated deficit of approximately $235,000 against additional paid-in capital. Therefore, the adoption of quasi-reorganization accounting procedures gave the Company a “fresh start” for accounting purposes. The Company is also considered as re-entering a new development stage on December 31, 1993, as it discontinued all of its previous operations. These financial statements have been restated to reflect the change.



7



Notes to Financial Statements - Continued


3.

Note Payable, Stockholder


Since 2005, the Company has borrowed money from an individual who is also a director and stockholder of the Company. At September 30, 2009 and December 31, 2008, the outstanding balance is $15,000. The note is unsecured, bears interest at 8% and is due on demand.


4.

Stock Split


On December 27, 2000, the Company approved a 100 for 1 reverse split of the issued and outstanding common stock but no shareholder=s ownership shall be less than 100 shares. An additional 43,394 shares were issued as a result of rounding up to the 100 share minimum.


The 100 for 1 reverse split has been retroactively applied in the accompanying financial statements.


5.

Amended Articles of Incorporation


On December 27, 2000, the Company amended its articles of incorporation to change its name from Messidor Limited to FrameWaves, Inc. In addition, the Company decreased its authorized shares from 500,000,000 to 110,000,000 shares of stock of which 100,000,000 shall be designated common stock and 10,000,000 shall be designated preferred stock. At September 30, 2009, no preferred stock has been issued by the Company. The Company has the authorization to issue the preferred stock in one or more series and to determine the voting rights, preferences as to dividends and liquidation, conversion rights, and other rights of each series.


6.

Issuance of Common Stock


On November 3, 2000, the Company issued 100,000 shares of its $.001 par value common stock for an aggregate price of $10,000. $5,000 was received in cash and $5,000 for services rendered.


On December 1, 2004, the Company issued 50,000 shares of its common stock for $.14 per share for an aggregate cash price of $7,000.


7.

Stock Options and Warrants


The Company has designated 2,000,000 shares of its authorized and unissued common stock to a future stock option plan. At September 30, 2009, there are no options or warrants outstanding to acquire the Company=s common stock.


8.

Income Taxes


The Company has had no taxable income under Federal or State tax laws. The Company has loss carryforwards totaling $62,253 that may be offset against future federal income taxes. If not used, the carryforwards will expire between 2020 and 2028. Due to the Company being in the development stage and incurring net operating losses, a valuation allowance has been provided to reduce the deferred tax assets from the net operating losses to zero. Therefore, there are no tax benefits recognized in the accompanying statement of operations.


9.

Going Concern


As shown in the accompanying financial statements, the Company incurred a net loss of $8,381 during the nine months ended September 30, 2008 and accumulated losses of $75,634 since quasi-reorganization at December 31, 1993. The Company's current liabilities exceed its current assets by $25,208 at September 30, 2009. These factors create an uncertainty as to the Company's ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent upon the success of raising additional capital through the issuance of common stock and the ability to generate sufficient operating revenue. The financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.



8



Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operation Forward-Looking Statement Notice


This Form 10-Q contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For this purpose any statements contained in this Form 10-Q that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “estimate” or “continue” or comparable terminology are intended to identify forward-looking statements. These statements by their nature involve substantial risks and uncertainties, and actual results may differ materially depending on a variety of factors, many of which are not within our control. These factors include but are not limited to economic conditions generally and in the industries in which we may participate; competition within our chosen industry, including competition from much larger competitors; technological advances and failure to successfully develop business relationships.


Description of Business.


FrameWaves, Inc. (the “Company” or “FrameWaves”) was originally incorporated under the name of Messidor Limited on December 23, 1985 as a development stage company for the purpose of engaging in all lawful transactions permitted under the State of Nevada, including the acquisition of various business opportunities to provide profit and maximize shareholder value.


On December 27, 2000, the shareholders, at a special meeting, changed the Company’s name from Messidor Limited to FrameWaves, Inc. The shareholders also approved the acquisition of Corners, Inc. (“Corners”), a Nevada corporation, whereby the Company exchanged 1,000,000 shares of the Company’s common stock for all of Corner’s issued and outstanding shares of common stock. Corners had incorporated on November 17, 1998 in the State of Nevada to provide custom framing for interior designers in conjunction with business contacts provided by Corners’ officers and directors. Since its inception, Corners has had limited operations.


FrameWaves originally intended to use Corners as an operating subsidiary and to actively pursue the custom framing business by utilizing Corners’ business contacts to procure contracts for future operations, and to engage in a comprehensive and aggressive marketing campaign, including but not limited to, soliciting unknown but potential business contacts through direct mailings, media, and other mediums that might generate leads to contracts for future operations.


As of the date of this report, Framewaves has been unsuccessful in implementing its business plan and has no ongoing operations. Due to other obligations the Company’s officers and directors have been unable to devote adequate time to developing the business and have yet to engage in any contract negotiations with frame suppliers, interior designers or retail consumers. Framewaves has had only limited operations since inception and has not generated any revenues since the fourth quarter of 2001.


The Company has now focused its efforts on seeking a business opportunity. The Company will attempt to locate and negotiate with a business entity for the merger of that target company into the Company. In certain instances, a target company may wish to become a subsidiary of the Company or may wish to contribute assets to the Company rather than merge. No assurances can be given that the Company will be successful in locating or negotiating with any target company. The Company will provide a method for a foreign or domestic private company to become a reporting (“public”) company whose securities are qualified for trading in the United States secondary market. We are now considered a “blank check” company.


The Company will attempt to locate and negotiate with a business entity for the merger of that target company into the Company. In certain instances, a target company may wish to become a subsidiary of the Company or may wish to contribute assets to the Company rather than merge. No assurances can be given that the Company will be successful in locating or negotiating with any target company. The Company will provide a method for a foreign or domestic private company to become a reporting (“public”) company whose securities are qualified for trading in the United States secondary market.


We are not restricting our search to any particular industry or geographical area. We may therefore engage in essentially any business in any industry. Our management has unrestricted discretion in seeking and participating in a business opportunity, subject to the availability of such opportunities, economic conditions and other factors.


The selection of a business opportunity in which to participate is complex and extremely risky and will be made by management in the exercise of its business judgment. There is no assurance that we will be able to identify and acquire any business opportunity which will ultimately prove to be beneficial to our company and shareholders.


Because we have no specific business plan or expertise, our activities are subject to several significant risks. In particular, any business acquisition or participation we pursue will likely be based on the decision of management without the consent, vote, or approval of our shareholders.



9



Sources of Opportunities


We anticipate that business opportunities may arise from various sources, including officers and directors, professional advisers, securities broker-dealers, venture capitalists, members of the financial community, and others who may present unsolicited proposals.


We will seek potential business opportunities from all known sources, but will rely principally on the personal contacts of our officers and directors as well as indirect associations between them and other business and professional people. Although we do not anticipate engaging professional firms specializing in business acquisitions or reorganizations, we may retain such firms if management deems it in our best interests. In some instances, we may publish notices or advertisements seeking a potential business opportunity in financial or trade publications.


Criteria


We will not restrict our search to any particular business, industry or geographical location. We may acquire a business opportunity in any stage of development. This includes opportunities involving “start up” or new companies. In seeking a business venture, management will base their decisions on the business objective of seeking long-term capital appreciation in the real value of our company. We will not be controlled by an attempt to take advantage of an anticipated or perceived appeal of a specific industry, management group, or product.


In analyzing prospective business opportunities, management will consider the following factors:


§

available technical, financial and managerial resources;

§

working capital and other financial requirements;

§

the history of operations, if any;

§

prospects for the future;

§

the nature of present and expected competition;

§

the quality and experience of management services which may be available and the depth of the management;

§

the potential for further research, development or exploration;

§

the potential for growth and expansion;

§

the potential for profit;

§

the perceived public recognition or acceptance of products, services, trade or service marks, name identification; and other relevant factors.


Generally, our management will analyze all available factors and make a determination based upon a composite of available facts, without relying on any single factor.


Methods of Participation of Acquisition


Management will review specific business opportunities and then select the most suitable opportunities based on legal structure or method of participation. Such structures and methods may include, but are not limited to, leases, purchase and sale agreements, licenses, joint ventures, other contractual arrangements, and may involve a reorganization, merger or consolidation transaction. Management may act directly or indirectly through an interest in a partnership, corporation, or other form of organization.


Procedures


As part of the our investigation of business opportunities, officers and directors may meet personally with management and key personnel of the firm sponsoring the business opportunity. We may visit and inspect material facilities, obtain independent analysis or verification of certain information provided, check references of management and key personnel, and conduct other reasonable measures.


We will generally ask to be provided with written materials regarding the business opportunity. These materials may include the following:


§

descriptions of product, service and company history; management resumes;

§

financial information;

§

available projections with related assumptions upon which they are based;

§

an explanation of proprietary products and services;

§

evidence of existing patents, trademarks or service marks or rights thereto;

§

present and proposed forms of compensation to management;

§

a description of transactions between the prospective entity and its affiliates;

§

relevant analysis of risks and competitive conditions;



10



§

a financial plan of operation and estimated capital requirements;

§

and other information deemed relevant.


Competition


We expect to encounter substantial competition in our efforts to acquire a business opportunity. The primary competition is from other companies organized and funded for similar purposes, small venture capital partnerships and corporations, small business investment companies and wealthy individuals.


Employees


The Company currently has no employees. Executive officers will devote only such time to the affairs of the Company as they deem appropriate, which is estimated to be approximately 20 hours per month per person. The need for employees will be addressed at such time operations prove successful.


Description of Property


The Company utilizes office space at 1981 East 4800 South, Suite 100, Salt Lake City, Utah, 84117, provided by Thomas A. Thomsen, an officer and director of the Company. The Company does not pay rent for this office space.


Changes in Management and Directors


On August 10, 2009, the Company accepted the resignations of Thomas A. Thomsen as President and a director of the Corporation and Susan Santage as Treasurer and a director of the Corporation. Also on August 10, 2009, the Company appointed Mr. Alexander H. Cook to serve on the board of directors and to fill the positions of President, Secretary and Treasurer of the Company.


On October 12, 2009, the Company accepted the resignation of Alexander H. Cook as President, Secretary and Treasurer and as a director of the Corporation. Mr. Cook cited other commitments are such that they can no longer devote his attention and energy to the affairs of the Company and stated he had no issues or disagreements with the Company or its management. Ms. Susan Santage agreed to resume her participation with the Company and was appointed to serve on the board of directors and to fill the positions of President, Secretary and Treasurer of the Company. Ms. Santage graduated from Salt Lake Community College in 1989 with an AAS in Graphic Design. In 1984, Ms. Santage graduated from the Salt Lake School of Interior Design. From 1989 to the present date, Ms. Santage has engaged in freelance graphic design where she has contracted with several companies including Break-thru Industries, KLCY Radio Station, Phoenix Aviation, Inc., and the Salt Lake Community College.


Three Month Period Ended September 30, 2009 and 2008


The Company did not generate any revenue during the three months ended September 30, 2009 and 2008.


General and administrative expenses for the three months ended September 30, 2009 were $2,991, compared to general and administrative expenses of $1,124 for the same period in 2008. Interest expense at September 30, 2009 was $300 compared to $300 for the same period in 2008. Expenses were largely due to accounting, legal and other professional costs.


As a result of the foregoing, the Company realized net losses of $3,291 for the three months ended September 30, 2009 compared to $1,424 for the same period in 2008. The Company’s net loss is attributable to a lack of business and ongoing professional costs associated with preparing the Company’s public reports.


Nine Month Period Ended September 30, 2009 and 2008


General and administrative expenses for the nine months ended September 30, 2009 were $7,481, compared to general and administrative expenses of $5,212 for the same period in 2008. Interest expense at September 30, 2009 was $900 compared to $885 for the same period in 2008. Expenses were largely due to accounting, legal and other professional costs.


As a result of the foregoing, the Company realized net losses of $8,381 for the nine months ended September 30, 2009 compared to $6,097 for the same period in 2008. The Company’s net loss is attributable to a lack of business and ongoing professional costs associated with preparing the Company’s public reports.


Liquidity and Capital Resources


At September 30, 2009, assets consisted of $77 in cash. Liabilities consisted of $6,795 in accounts payable, $3,490 in accrued interest and a $15,000 note payable to a stockholder, for total liabilities of $25,285, leaving the Company without any working capital.



11



Since 2005, the Company has borrowed money from a director and officer of the Company. At September 30, 2009 the outstanding balance is $15,000. The note is unsecured, bears interest at 8% and is due on demand.


Currently, the Company has no material commitments for capital expenditures. Management anticipates that operating expenses for the next twelve months will be approximately $8,000 to $10,000. Management understands that it does not have sufficient cash to meet its immediate operational needs and will require additional capital to cover ongoing operating expenses. Management may attempt to raise additional capital for its current operational needs through loans from its officers, debt financing, equity financing or a combination of financing options. However, there are no existing understandings, commitments or agreements for such an infusion; nor can there be assurances to that effect.


Item 3. Quantitative and Qualitative Disclosures About Market Risk.


Not required by smaller reporting companies.


Item 4T. Controls and Procedures.


(a)

Evaluation of Disclosure Controls and Procedures. The Company’s management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rule 13a-15(f) under the Securities Exchange Act of 1934, as amended). Management conducted an evaluation of the effectiveness of the Company’s internal control over financial reporting based on the criteria set forth in Internal Control - Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Based on this evaluation, management has concluded that the Company’s internal control over financial reporting was effective as of September 30, 2009.


(b)

Changes in Internal Control over Financial Reporting. There were no changes in the Company's internal controls over financial reporting, known to the chief executive officer or the chief financial officer, that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Company's internal control over financial reporting.


PART II – OTHER INFORMATION


Item 6.

Exhibits


Copies of the following documents are included as exhibits to this report pursuant to Item 601 of Regulation S-B.


SEC Ref. No.

 

Title of Document

 

Location

 

 

 

 

 

31

 

Certification of the Principal Executive Officer and Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

 

Attached

 

 

 

 

 

32

 

Certification of Principal Executive Officer and Principal Financial Officer pursuant to section 906 of the Sarbanes-Oxley Act of 2002

 

Attached




12



SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this 10-Q report to be signed on its behalf by the undersigned thereunto duly authorized.


FRAMEWAVES, INC.

(Registrant)






Date: November 11, 2009

/s/ Susan Santage                                     

Susan Santage, President, Treasurer and

Principal Executive Officer and

Principal Financial Officer




13