UNITED STATES


SECURITIES AND EXCHANGE COMMISSION


Washington, D.C. 20549




FORM 10-K




(Mark One)




x ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934




For the fiscal year ended December 31, 2010




o TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934




For the transition period from ___________to ___________





Commission File No. 333-166343





RESUME IN MINUTES, INC.


(Name of small business issuer in its charter)




NEVADA(State or other jurisdiction of incorporation or organization)
(IRS Employer Identification No.)3711B Madison LaneFalls Church, Virginia
22041(Address of principal executive offices)
(Zip Code)




(202) 247-8363


(Registrant’s telephone number, including area code)






Securities registered under Section 12(b) of the Exchange Act:




Title of each class registered:
Name of each exchange on which registered:None
None




Securities registered under Section 12(g) of the Exchange Act:




Common Stock, 500,000,000 shares, par value $0.001


(Title of class)











Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.


YesoNox




Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.


Yeso    Nox




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).


Yeso    Noo




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.


Yesx    Noo




Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference Part III of this Form 10-K or any amendment to this Form 10-K. x




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
o
Accelerated filer
oNon-accelerated filer
o
Smaller reporting company
x(Do not check if a smaller reporting company)




Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).


Yes xNo o




As of March 31, 2011, the registrant had 2,803,000 shares of its common stock outstanding.




Documents Incorporated by Reference: None.







TABLE OF CONTENTS




PAGEPART IITEM 1.
Business
1ITEM 1A.
Risk Factors
2ITEM 2.
Properties
2ITEM 3.
Legal Proceedings
2ITEM 4.
Removed and Reserved
2PART IIITEM 5.
Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
3ITEM 6.
Selected Financial Data
3ITEM 7.
Management’s Discussion and Analysis of Financial Condition and Results of Operation
3ITEM 7A.
Quantitative and Qualitative Disclosures About Market Risk
10ITEM 8.
Financial Statements and Supplementary Data
11ITEM 9.
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
12ITEM 9A(T).
Controls and Procedures
12PART IIIITEM 10.
Directors, Executive Officers and Corporate Governance
13ITEM 11.
Executive Compensation
13ITEM 12.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
14ITEM 13.
Certain Relationships and Related Transactions, and Director Independence
14ITEM 14.
Principal Accounting Fees and Services
15PART IVITEM 15.
Exhibits, Financial Statement Schedules
16SIGNATURES
17









PART I




ITEM 1. BUSINESS




Resume in Minutes, Inc. is a Nevada Corporation founded on May 22, 2008 by Marc Anthony who was issued 2,000,000 founder shares on formation.  Mr. Anthony subsequently sold his shares to Novaira Haider in June 2008 for $2,550 and at such time Marc Anthony resigned as our sole director and Novaira Haider was appointed as our sole director and President and CEO.





Our business model is to offer affordable professional resume building services online with virtually no overhead, and no inventory. Our President has designed the business model such that we will take orders and payment from customers online, and then we will personally deliver our products to our clients via email. We believe that our success will follow from because our President is a marketing professional. She has designed this business to be competitive in the online market. This single factor will enable us to create a unique niche and promote a powerful marketing presence. We will be accessible to almost any target client. We are “live” online. We are offering high-demand services people can relate to, and we believe our accessibility factor actually represents a barrier to competition.





We anticipate that customer sales will be our primary source of revenue, accounting for approximately 80% of revenue. We expect the remaining 20% to be attributed to online marketing services. We currently do not have an existing client base, or agreements with advertisers.





The key organizing agent behind our company is our President, Novaira Haider. Ms. Haider has recognized an opportunity in the online market to offer a complete all-in-one resume building service and, thus, to make money and achieve brand recognition in the market by operating a business that offers professional resume building services.





We will provide the following online marketing services which will be available through our website at www.resumeinminutes.com. Our website is currently operational but we continue to update this site on an ongoing basis.





CPA Online Marketing





CPA means “cost-per-acquisition”. This is a well-known acronym in online marketing because it typifies most affiliate marketing business models. In CPA online marketing, an affiliate partner only pays for the purchases that are actually obtained through a particular website in which marketing opportunities have been acquired.





In a CPA campaign, an entity places an offer on a given website, and if no one ever buys anything through the placement, the client will never owe the website one penny. Conversely, the more conversions, the more money the client will pay. A conversion means that a hit on a website has resulted in a sale. Conversions are easily tracked, such that the entire process is automated.





It is important for us as a start-up company to incentivize an affiliate partner. One way we do this is by requiring payment from our customers only when their placement on our website yields conversions for their product offerings. This is an exciting premise for beginning an online marketing company that is empowered to approach any E-tailer and offer them the ability to become an affiliate partner with the Company.





Subscription Online Marketing





Since there are many different strategies in online marketing, we will extend variations of affiliate marketing to our partners. For example, we will offer a subscription service that enables clients who wish to have a continuous presence on our website, to go beyond the placement of a single offer and engage a dynamic real-time campaign of constantly rotating offers including many different products.




1





This approach retains the CPA concept at the heart of each conversion. It also allows us to work closely with clients who desire a more pervasive and aggressive presence on our website. Subscribers will gain flexibility and maximize the potential inherent in our website by linking to us not only as a CPA client, but as a pervasive CPA client wishing to maximize the strength of our Company.





Business Model





We envision the future in terms of our competing in the market for resume building services with better service and management in our area. Our business model is based on classic online retail service dynamics. Our continued growth will be limited only by our creativity. Educating customers in the ways and means of using our service to enhance their professional image is the human service component of our business model. Finding ways to procure and offer unique offerings for our target customers will be the never-ending story of our business.





Sales and Marketing





We are committed to preparing sales media that highlight all of the most important benefits and features we offer in the form of brief sales literature and a polished web site. This information presents a compelling point of view regarding the features and benefits of our company. The blending of our offerings with the effect of enhancing target customers’ businesses makes for an attractive and alluring business.





ITEM 1A. RISK FACTORS




Not applicable because we are a smaller reporting company.




ITEM 2. PROPERTIES




The Company has been provided office space located at 3711B Madison Lane, Falls Church, Virginia 22041by its Chief Executive Officer at no cost. The management determined that such cost is nominal and did not recognize the rent expense in its financial statement




ITEM 3. LEGAL PROCEEDINGS




From time to time, the Company may become involved in litigation relating to claims arising out of its operations in the normal course of business. We are not involved in any pending legal proceeding or litigation and, to the best of our knowledge, no governmental authority is contemplating any proceeding to which we are a party or to which any of our properties is subject, which would reasonably be likely to have a material adverse effect on the Company.




ITEM 4. REMOVED AND RESERVED




None.




2




PART II




ITEM 5. MARKET FOR REGISTRANTS COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES




Market Information





We are committed to ongoing market analysis as it pertains to market segmentation. Management believes, based, in part, on the studies referenced herein, that the market for our product is large and growing.  By offering a simple new product, we believe we should be able to capture a firm base in that market.





As of July 20, 2010, we have 1 employee.  We plan to hire more people on as-needed basis and also outsource to independent contractors for such areas as sales, marketing, auditors, tax and other service needs. We have not entered into any collective bargaining agreements.





We may provide an employee stock compensation program based on performance in addition to other benefits such as basic health insurance.





(b) Holders.





As of March 31, 2011, there were 35 record holders of an aggregate of 2,803,000  shares of the Common Stock issued and outstanding.





(c) Dividends.





The Registrant has not paid any cash dividends to date and does not anticipate or contemplate paying dividends in the foreseeable future. It is the present intention of management to utilize all available funds for the development of the Registrant's business.







ITEM 6. SELECTED FIANANCIAL DATA




Not applicable because we are a smaller reporting company.




ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND RESULTS OF OPERATIONS.




The following discussion should be read in conjunction with the Consolidated Financial Statements and Notes thereto appearing elsewhere in this Form 10-K. The following discussion contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 relating to future events or our future performance. Actual results may materially differ from those projected in the forward-looking statements as a result of certain risks and uncertainties set forth in this prospectus. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual results will not be different from expectations expressed in this report.




Overview





Resume in Minutes, Inc. is a Nevada Corporation founded on May 22, 2008 by Marc Anthony who was issued 2,000,000 founder shares on formation.  Mr. Anthony subsequently sold his shares to Novaira Haider in June 2008 for $2,550 and at such time Marc Anthony resigned as our sole director and Novaira Haider was appointed as our sole director and President and CEO.





Our business model is to offer affordable professional resume building services online with virtually no overhead, and no inventory. Our President has designed the business model such that we will take orders and payment from customers online, and then we will personally deliver our products to our clients via email. We believe that our success will follow from because our President is a marketing professional. She has designed this business to be competitive in the online market. This single factor will enable us to create a unique niche and promote a powerful marketing presence. We will be accessible to almost any target client. We are “live” online. We are offering high-demand services people can relate to, and we believe our accessibility factor actually represents a barrier to competition.




3





We anticipate that customer sales will be our primary source of revenue, accounting for approximately 80% of revenue. We expect the remaining 20% to be attributed to online marketing services. We currently do not have an existing client base, or agreements with advertisers.





The key organizing agent behind our company is our President, Novaira Haider. Ms. Haider has recognized an opportunity in the online market to offer a complete all-in-one resume building service and, thus, to make money and achieve brand recognition in the market by operating a business that offers professional resume building services.





We will provide the following online marketing services which will be available through our website at www.resumeinminutes.com. Our website is currently operational but we continue to update this site on an ongoing basis.





CPA Online Marketing





CPA means “cost-per-acquisition”. This is a well-known acronym in online marketing because it typifies most affiliate marketing business models. In CPA online marketing, an affiliate partner only pays for the purchases that are actually obtained through a particular website in which marketing opportunities have been acquired.





In a CPA campaign, an entity places an offer on a given website, and if no one ever buys anything through the placement, the client will never owe the website one penny. Conversely, the more conversions, the more money the client will pay. A conversion means that a hit on a website has resulted in a sale. Conversions are easily tracked, such that the entire process is automated.





It is important for us as a start-up company to incentivize an affiliate partner. One way we do this is by requiring payment from our customers only when their placement on our website yields conversions for their product offerings. This is an exciting premise for beginning an online marketing company that is empowered to approach any E-tailer and offer them the ability to become an affiliate partner with the Company.





Subscription Online Marketing





Since there are many different strategies in online marketing, we will extend variations of affiliate marketing to our partners. For example, we will offer a subscription service that enables clients who wish to have a continuous presence on our website, to go beyond the placement of a single offer and engage a dynamic real-time campaign of constantly rotating offers including many different products.





This approach retains the CPA concept at the heart of each conversion. It also allows us to work closely with clients who desire a more pervasive and aggressive presence on our website. Subscribers will gain flexibility and maximize the potential inherent in our website by linking to us not only as a CPA client, but as a pervasive CPA client wishing to maximize the strength of our Company.





Business Model





We envision the future in terms of our competing in the market for resume building services with better service and management in our area. Our business model is based on classic online retail service dynamics. Our continued growth will be limited only by our creativity. Educating customers in the ways and means of using our service to enhance their professional image is the human service component of our business model. Finding ways to procure and offer unique offerings for our target customers will be the never-ending story of our business.





Sales and Marketing





We are committed to preparing sales media that highlight all of the most important benefits and features we offer in the form of brief sales literature and a polished web site. This information presents a compelling point of view regarding the features and benefits of our company. The blending of our offerings with the effect of enhancing target customers’ businesses makes for an attractive and alluring business.





We have begun to envision our operations recently in the form of making plans for a powerful launch of this plan. We will be responsible for the private, in-house sourcing of whatever products and services we offer. We will fulfill our promises to target consumers from the beginning to the end of our transactional relationship. All aspects of the term fulfillment have been duly considered for the purpose of assuring both customers and employees that fulfillment will never be a cause for concern.




4





Characteristics of our Revenues and Expenses





As of December 31, 2010, we had not concluded any sales transactions. We had no revenue or cost of sales for the year ended December 31, 2010 or since our inception on May, 22, 2008.





Sales and marketing expenses primarily consist of the costs of our marketing initiatives and business development expenses.





General and administrative expenses include costs attributable to corporate overhead and the overall support of our operations.  Our primary costs include charges related to stock issued and recognized as compensation, accounting, legal and other professional services, and other general operating expenses.





Market Information





We are committed to ongoing market analysis as it pertains to market segmentation. Management believes, based, in part, on the studies referenced herein, that the market for our product is large and growing.  By offering a simple new product, we believe we should be able to capture a firm base in that market.





As of December 31, 2010, we have 1 employee.  We plan to hire more people on as-needed basis and also outsource to independent contractors for such areas as sales, marketing, auditors, tax and other service needs. We have not entered into any collective bargaining agreements.





We may provide an employee stock compensation program based on performance in addition to other benefits such as basic health insurance.





Plan of Operation





We believe that our combination of the professional and the affordable creates a unique vision. However, we also believe this trend is already becoming a part of the accepted conventional wisdom.





We will roll out advertisement campaign targeting college students initially.  The ad campaign will be in mostly local university newspapers and magazines.  We feel that we can slowly build our brand name with college students who are graduating and will need our services.  We feel the cost of advertising in college newspapers will be cost effective in getting out our service to college students.  We will start in our local area by targeting local colleges and universities in the Washington DC and Virginia area and expand it gradually to some of the larger colleges around the nation.





We expect to spend approximately $10,000 in the next few months advertising in local college newspapers. Our goal is to be able to target approximately 1,000 students each month, generate approximately $15,000 per month in revenue and expand our business. In order to achieve this goal, we intend to obtain a combination of 375 lifetime service customers and/or 1,000 one time service customers per month. We expect that nearly 80% of our revenue will be generated through customer sales, while the remaining 20% will be a result of online marketing sales.





We believe that once we are a publicly traded company, we will be in a better position to gain access to capital markets and raise additional funds. We understand that by being a publicly traded company, our operating expenses will increase.  We expect that our anticipated growth and opportunity as a result of being a public company will enhance our result of operations and ultimately provide financial benefits to the Company.





We believe that we can compete in the market for resume building services with better service and management in our area. Our business model is based on classic online retail service dynamics. Our continued growth will be limited only by our creativity. Using our expertise to obtain a wide range of products, then offering these products at affordable rates, is the basis of our business model. Educating customers in the ways and means of using our service to enhance their professional image is the human service component of our business model. And continually finding ways to procure and offer unique offerings for our target customers will be the never-ending story of our business.




5





Results of Operations





For the year ended December 31, 2010, we had $0 in revenue. Expenses for the period totaled $29,358 resulting in a net loss of $29,358.





Capital Resources and Liquidity





For the year ended December 31, 2010 and 2009 we had $17,142 and $2,318 in cash, respectively. We anticipate our legal, auditing, and filing costs to increase as a result of being a public company. We are currently in the process of setting up a merchant account which will allow us to run ads in local college newspapers. We believe that once we begin advertising, we will be able to meet our long term and short term cash flow needs by generating expected revenues equal to $5,000 per month.





While we are attempting to commence operations and produce revenues, our cash position may not be significant enough to support our daily operations. Management intends to raise additional funds by way of a public or private offering.  Management believes that the actions presently being taken to further implement its business plan and generate revenues provide the opportunity for the Company to continue as a going concern. While we believe in the viability of its strategy to increase revenues and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the Company’s ability to further implement its business plan and generate revenues.





We anticipate that depending on market conditions and our plan of operations, we may incur operating losses in the foreseeable future. Therefore, our auditors have raised substantial doubt about our ability to continue as a going concern.





Critical Accounting Policies





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 reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the amounts of revenues and expenses. Critical accounting policies are those that require the application of management’s most difficult, subjective or complex judgments, often because of the need to make estimates about the effect of matters that are inherently uncertain and that may change in subsequent periods. In preparing the financial statements, we utilized available information, including our past history, industry standards and the current economic environment, among other factors, in forming our estimates and judgments, giving appropriate consideration to materiality. Actual results may differ from these estimates. In addition, other companies may utilize different estimates, which may impact the comparability of our results of operations to other companies in our industry. We believe that of our significant accounting policies, the following may involve a higher degree of judgment and estimation, or are fundamentally important to our business.





Revenue Recognition.    We expect to recognize the total revenue provided under a contract ratably over the contract period, including any periods under which we have agreed to provide services at no cost.  Deferred revenues are recognized as a liability when billings are issued in advance of the date when revenues are earned.  We expect to apply the revenue recognition principles set forth in ASC 605 which provides for revenue to be recognized when (i) persuasive evidence of an arrangement exists, (ii) delivery or installation has been completed, (iii) the customer accepts and verifies receipt, and (iv) collectability is reasonably assured.





Stock Based Awards.With our formation in 2009, we implemented ASC 718-10 which requires the fair value of all stock-based employee compensation awarded to employees and service providers to be recorded as an expense over the related vesting period.  The statement also requires the recognition of compensation expense for the fair value of any unvested stock option and warrant awards outstanding at the date of adoption.




6





Off-Balance Sheet Arrangements.    We have no off-balance sheet arrangements, financings, or other relationships with unconsolidated entities known as ‘‘Special Purposes Entities.’’





Recent Accounting Pronouncements





The Company applies paragraph 605-10-S99-1 of the FASB Accounting Standards Codification for revenue recognition.  The Company will recognize revenue when it is realized or realizable and earned.  The Company considers revenue realized or realizable and earned when all of the following criteria are met: (i) persuasive evidence of an arrangement exists, (ii) the product has been shipped or the services have been rendered to the customer, (iii) the sales price is fixed or determinable, and (iv) collectability is reasonably assured.





Income taxes





The Company follows Section 740-10-30 of the FASB Accounting Standards Codification, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns.  Under this method, deferred tax assets and liabilities are based on the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse.  Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized.  Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.  The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the Statements of Operations in the period that includes the enactment date.





The Company adopted section 740-10-25 of the FASB Accounting Standards Codification (“Section 740-10-25”). Section 740-10-25.addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements.  Under Section 740-10-25, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position.  The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement.  Section 740-10-25 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures.  The Company had no material adjustments to its liabilities for unrecognized income tax benefits according to the provisions of Section 740-10-25.





Net loss per common share





Net loss per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification.  Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period.  Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock and potentially outstanding shares of common stock during each period.  There were no potentially dilutive shares outstanding as of December 31, 2009 or 2008.





Recently Issued Accounting Pronouncements





In January 2010, the FASB issued the FASB Accounting Standards Update No. 2010-01 “Equity Topic 505 – Accounting for Distributions to Shareholders with Components of Stock and Cash”, which clarify that the stock portion of a distribution to shareholders that allows them to elect to receive cash or stock with a potential limitation on the total amount of cash that all shareholders can elect to receive in the aggregate is considered a share issuance that is reflected in EPS prospectively and is not a stock dividend for purposes of applying Topics 505 and 260 (Equity and Earnings Per Share (“EPS”)).  Those distributions should be accounted for and included in EPS calculations in accordance with paragraphs 480-10-25-14 and 260-10-45-45 through 45-47 of the  FASB Accounting Standards codification.  The amendments in this Update also provide a technical correction to the Accounting Standards Codification.  The correction moves guidance that was previously included in the Overview and Background Section to the definition of a stock dividend in the Master Glossary.  That guidance indicates that a stock dividend takes nothing from the property of the corporation and adds nothing to the interests of the stockholders.  It also indicates that the proportional interest of each shareholder remains the same, and is a key factor to consider in determining whether a distribution is a stock dividend. The amendments in this Update are effective for interim and annual periods ending on or after December 15, 2009, and should be applied on a retrospective basis.




7





In January 2010, the FASB issued the FASB Accounting Standards Update No. 2010-02 “Consolidation Topic 810 – Accounting and Reporting for Decreases in Ownership of a Subsidiary – a Scope Clarification”, which provides amendments to Subtopic 810-10 and related guidance within U.S. GAAP to clarify that the scope of the decrease in ownership provisions of the Subtopic and related guidance applies to the following:





1.
A subsidiary or group of assets that is a business or nonprofit activity





2.
A subsidiary that is a business or nonprofit activity that is transferred to an equity method investee or joint venture





3.
An exchange of a group of assets that constitutes a business or nonprofit activity for a non-controlling interest in an entity (including an equity method investee or joint venture).





The amendments in this Update also clarify that the decrease in ownership guidance in Subtopic 810-10 does not apply to the following transactions even if they involve businesses:





1.
Sales of in substance real estate. Entities should apply the sale of real estate guidance in Subtopics 360-20 (Property, Plant, and Equipment) and 976-605 (Retail/Land) to such transactions.





2.
Conveyances of oil and gas mineral rights. Entities should apply the mineral property conveyance and related transactions guidance in Subtopic 932-360 (Oil and Gas-Property, Plant, and Equipment) to such transactions.





If a decrease in ownership occurs in a subsidiary that is not a business or nonprofit activity, an entity first needs to consider whether the substance of the transaction causing the decrease in ownership is addressed in other U.S. GAAP, such as transfers of financial assets, revenue recognition, exchanges of nonmonetary assets, sales of in substance real estate, or conveyances of oil and gas mineral rights, and apply that guidance as applicable. If no other guidance exists, an entity should apply the guidance in Subtopic 810-10.  The amendments in this Update are effective beginning in the first interim or annual reporting period ending on or after December 15, 2009.





In January 2010, the FASB issued the FASB Accounting Standards Update No. 2010-06 “Fair Value Measurements and Disclosures (Topic 820) Improving Disclosures about Fair Value Measurements”, which provides amendments to Subtopic 820-10 that require new disclosures as follows:





1.
Transfers in and out of Levels 1 and 2. A reporting entity should disclose separately the amounts of significant transfers in and out of Level 1 and Level 2 fair value measurements and describe the reasons for the transfers.  2.
Activity in Level 3 fair value measurements. In the reconciliation for fair value measurements using significant unobservable inputs (Level 3), a reporting entity should present separately information about purchases, sales, issuances, and settlements (that is, on a gross basis rather than as one net number).





This Update provides amendments to Subtopic 820-10 that clarify existing disclosures as follows:





1.
Level of disaggregation. A reporting entity should provide fair value measurement disclosures for each class of assets and liabilities. A class is often a subset of assets or liabilities within a line item in the statement of financial position. A reporting entity needs to use judgment in determining the appropriate classes of assets and liabilities.  2.
Disclosures about inputs and valuation techniques. A reporting entity should provide disclosures about the valuation techniques and inputs used to measure fair value for both recurring and nonrecurring fair value measurements. Those disclosures are required for fair value measurements that fall in either Level 2 or Level 3.





8





This Update also includes conforming amendments to the guidance on employers' disclosures about postretirement benefit plan assets (Subtopic 715-20). The conforming amendments to Subtopic 715-20 change the terminology from major categoriesof assets to classesof assets and provide a cross reference to the guidance in Subtopic 820-10 on how to determine appropriate classes to present  fair value disclosures. The new disclosures and clarifications of existing disclosures are effective for interim and annual reporting periods beginning after December 15, 2009, except for the disclosures about purchases, sales, issuances, and settlements in the roll forward of activity in Level 3 fair value measurements. Those disclosures are effective for fiscal years beginning after December 15, 2010, and for interim periods within those fiscal years.





In February 2010, the FASB issued the FASB Accounting Standards Update No. 2010-09 “Subsequent Events (Topic 855) Amendments to Certain Recognition and Disclosure Requirements”, which provides amendments to Subtopic 855-10 as follows:





1.
An entity that either (a) is an SEC filer or(b) is a conduit bond obligor for conduit debt securities that are traded in a public market (a domestic or foreign stock exchange or an over-the-counter market, including local or regional markets) is required to evaluate subsequent events through the date that the financial statements are issued. If an entity meets neither of those criteria, then it should evaluate subsequent events through the date the financial statements are available to be issued.





2.
An entity that is an SEC filer is not required to disclose the date through which subsequent events have been evaluated. This change alleviates potential conflicts between Subtopic 855-10 and the SEC's requirements.





3.
The scope of the reissuance disclosure requirements is refined to include revised financial statements only. The term revised financial statementsis added to the glossary of Topic 855. Revised financial statements include financial statements revised either as a result of correction of an error or retrospective application of U.S. generally accepted accounting principles.





All of the amendments in this Update are effective upon issuance of the final Update, except for the use of the issued date for conduit debt obligors. That amendment is effective for interim or annual periods ending after June 15, 2010.





In April 2010, the FASB issued the FASB Accounting Standards Update No. 2010-17 “Revenue Recognition — Milestone Method (Topic 605) Milestone Method of Revenue Recognition”, which provides guidance on the criteria that should be met for determining whether the milestone method of revenue recognition is appropriate. A vendor can recognize consideration that is contingent upon achievement of a milestone in its entirety as revenue in the period in which the milestone is achieved only if the milestone meets all criteria to be considered substantive.





Determining whether a milestone is substantive is a matter of judgment made at the inception of the arrangement. The following criteria must be met for a milestone to be considered substantive. The consideration earned by achieving the milestone should:





1.
Be commensurate with either of the following:





a.
The vendor's performance to achieve the milestone





b.
The enhancement of the value of the item delivered as a result of a specific outcome resulting from the vendor's performance to achieve the milestone





2.
Relate solely to past performance





3.
Be reasonable relative to all deliverables and payment terms in the arrangement.





9





A milestone should be considered substantive in its entirety. An individual milestone may not be bifurcated. An arrangement may include more than one milestone, and each milestone should be evaluated separately to determine whether the milestone is substantive. Accordingly, an arrangement may contain both substantive and non-substantive milestones.





A vendor's decision to use the milestone method of revenue recognition for transactions within the scope of the amendments in this Update is a policy election. Other proportional revenue recognition methods also may be applied as long as the application of those other methods does not result in the recognition of consideration in its entirety in the period the milestone is achieved.





A vendor that is affected by the amendments in this Update is required to provide all of the following disclosures:





1.
A description of the overall arrangement  2.
A description of each milestone and related contingent consideration  3.
A determination of whether each milestone is considered substantive  4.
The factors that the entity considered in determining whether the milestone or milestones are substantive





5.
The amount of consideration recognized during the period for the milestone or milestones.





The amendments in this Update are effective on a prospective basis for milestones achieved in fiscal years, and interim periods within those years, beginning on or after June 15, 2010. Early adoption is permitted. If a vendor elects early adoption and the period of adoption is not the beginning of the entity's fiscal year, the entity should apply the amendments retrospectively from the beginning of the year of adoption. Additionally, a vendor electing early adoption should disclose the following information at a minimum for all previously reported interim periods in the fiscal year of adoption:





1.
Revenue  2.
Income before income taxes  3.
Net income  4.
Earnings per share





5.
The effect of the change for the captions presented.





A vendor may elect, but is not required, to adopt the amendments in this Update retrospectively for all prior periods.





Management does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying consolidated financial statements.




Off-Balance Sheet Arrangements




We do not have any off-balance sheet arrangements, financings, or other relationships with unconsolidated entities or other persons, also known as “special purpose entities” (SPEs).




ITEM 7A. QUANTITIATIVE AND QUALITATIVE DISCLOUSURES ABOUT MARKET RISK




Not applicable because we are a smaller reporting company.






10








ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.






RESUME IN MINUTES, INC.
  (A DEVELOPMENT STAGE COMPANY)
  December 31, 2010 and 2009
  Index to Financial Statements
  
  Page #Report of Independent Registered Public Accounting Firm
F-1Balance Sheets as of December 31, 2010 and 2009
F-2Statements of Operations for the Year Ended December 31, 2010 and 2009, for the period from May 22, 2008 (inception) through December 31, 2010
F-3Statement of Stockholders’ Equity (Deficit) for the period from May 22, 2008 (inception) through December 31, 2010
F-4Statements of Cash Flows for the Year Ended December 31, 2010 and 2009, for the period from May 22, 2008 (inception) through December 31, 2010
F-5Notes to the Financial Statements
F-6
 
  
  
  11
 
 
  REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
  
  To the Board of Directors and Stockholders of
  Resume In Minutes, Inc.
  (A development stage company)
  Falls Church, Virginia
  We have audited the accompanying balance sheets of Resume In Minutes, Inc. (a development stage company) (the “Company”), as of December 31, 2010 and 2009, and the related statements of operations, stockholders’ equity (deficit) and cash flows for the years then ended and for the period from May 22, 2008 (inception) through December 31, 2010.  These financial statements are the responsibility of the Company’s management.  Our responsibility is to express an opinion on these financial statements based on our audits.
  We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States).  Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.  The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting.  Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting.  Accordingly, we express no such opinion.  An audit includes examining on a test basis, evidence supporting the amount and disclosures in the financial statements.  An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.  We believe that our audits provide a reasonable basis for our opinion.
  In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 31, 2010 and 2009, and the related statements of operations, stockholders’ equity (deficit) and cash flows for the years then ended and for the period from May 22, 2008 (inception) through December 31, 2010 in conformity with accounting principles generally accepted in the United States of America.
  The accompanying financial statements have been prepared assuming that the Company will continue as a going concern.  As discussed in Note 3 to the financial statements, the Company has a deficit accumulated during the development stage at December 31, 2010 and had a net loss and net cash used in operating activities for the year then ended, respectively with minimal revenue earned since inception, all of which raise substantial doubt about the Company’s ability to continue as a going concern. Management's plans in regards to these matters are also described in Note 3.  The financial statements do not include any adjustments that might result from the outcome of this uncertainty.
  
  /s/Li & Company, PC
  Li & Company, PC
  Skillman, New Jersey
  March 31, 2011
  
 F-1
 
  Resume in Minutes, Inc.(A Development Stage Company)BALANCE SHEETSDecember 31,


December 31,2010


2009ASSETSCURRENT ASSETSCash

$
17,142


$
2,318Total Current Assets


17,142



2,318TOTAL ASSETS

$
17,142


$
2,318LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)CURRENT LIABILITIESAccrued Expenses

$
16,137


$
6,725Total Current Liabilities


16,137



6,725TOTAL LIABILITIES


16,137



6,725STOCKHOLDERS' EQUITY (DEFICIT)Preferred Stock - $0.001 par value;10,000,000 shares authorized;none issued or outstanding


-



-Common Stock - $0.001 par value;500,000,000 shares authorized;2,803,000 and 2,108,000  issued and outstanding, respectively


2,803



2,108Additional paid-in capital


39,663



5,588Deficit accumulated during the development stage


(41,461
)


(12,103
)Total Stockholders' Equity (Deficit)


1,005



(4,407
)TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

$
17,142


$
2,318
  See accompanying notes to the financial statements
  F-2
   Resume in Minutes, Inc.(A Development Stage Company)STATEMENTS OF OPERATIONSFor the periodfromFor the


For the


May 22, 2008Year ended


Year ended


(Inception)December 31,


December 31,


through2010


2009


December 31, 2010REVENUE

$
-


$
-


$
636OPERATING EXPENSES:PROFESSIONAL FEES


23,262



6,725



29,512STOCK COMPENSATION


-



-



2,000GENERAL AND ADMINISTRATIVE EXPENSES


6,096



1,143



10,585TOTAL OPERATING EXPENSES


29,358



7,868



42,097LOSS BEFORE INCOME TAXES


(29,358
)


(7,868
)


(41,461
)PROVISION FOR INCOME TAXES


-



-



-NET LOSS

$
(29,358
)

$
(7,868
)

$
(41,461
)Net loss per common share - basic and diluted

$
(0.01
)

$
(0.00
)

$
(0.02
)Weighted average number of common shares -basic and diluted


2,687,161



2,108,000



2,318,683
  See accompanying notes to the financial statements
    F-3
  Resume in Minutes, Inc.(A Development Stage Company)STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT)For the period from May 22, 2008 (inception) through December 31, 2010DeficitAccumulated


TotalAdditional


During the


Stockholders'Common Stock


Paid-in


Development


EquityShares


Amount


Capital


Stage


(Deficit)May 22, 2008 (inception)


2,000,000


$
2,000


$
-


$
-


$
2,000Capital Contribution


-



-



296



-



296Common stock issued for cash from August 12through September 18, 2008 at $0.05 pershare


108,000



108



5,292



-



5,400Net loss














(4,235
)


(4,235
)Balance, December 31, 2008


2,108,000



2,108



5,588



(4,235
)


3,461Net loss














(7,868
)


(7,868
)Balance, December 31, 2009


2,108,000



2,108



5,588



(12,103
)


(4,407
)Common stock issued for cash from January 5through March 17, 2010 at $0.05 pershare


695,000



695



34,055







34,750Capital Contribution










20







20Net loss














(29,358
)


(29,358
)Balance, December 31, 2010


2,803,000


$
2,803


$
39,663


$
(41,461
)

$
1,005
  See accompanying notes to the financial statements
 F-4
  Resume in Minutes, Inc.(A Development Stage Company)STATEMENTS OF CASH FLOWSFor the periodfromFor the


For the


May 22, 2008Year ended


Year ended


(Inception)December 31,


December 31,


throughCASH FLOWS FROM OPERATING ACTIVITIES

2010


2009


December 31, 2010Net loss

$
(29,358
)

$
(7,868
)

$
(41,461
)Stock issued as compensation


-



-



2,000Increase (Decrease) in Accrued Expenses


9,412



6,725



16,137Total adjustments to net income


9,412



6,725



18,137Net cash used in operating activities


(19,946
)


(1,143
)


(23,324
)CASH FLOWS FROM FINANCING ACTIVITIESCapital Contribution


20



-



316Proceeds from stock issuance


34,750



-



40,150Net cash flows provided by financing activities


34,770



-



40,466Net increase (decrease) in cash


14,824



(1,143
)


17,142Cash - beginning balance


2,318



3,461



-CASH BALANCE - END OF PERIOD

$
17,142


$
2,318


$
17,142
 See accompanying notes to the financial statements
    F-5
 
 RESUME IN MINUTES, INC.
 DECEMBER 31, 2010 AND 2009
 NOTES TO THE FINANCIAL STATEMENTS
 
 NOTE 1 - ORGANIZATION AND OPERATIONS
 
 Resume in Minutes, Inc. (“Resume” or the “Company”), a development stage company, was incorporated on May 22, 2008 under the laws of the State of Nevada. Initial operations have included organization and incorporation, target market identification, marketing plans, and capital formation. A substantial portion of the Company’s activities has involved developing a business plan and establishing contacts and visibility in the marketplace. The Company has generated minimal revenues since inception. The Company plans to offer target customers who need a complete all-in-one resume building service a special and unique opportunity to obtain a complete suite of online resume building services.
 
 NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 
 Basis of presentation
 
 The accompanying financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).
 
 Development stage company
 
 The Company is a development stage company as defined by section 810-10-20 of the FASB Accounting Standards Codification. Although the Company has recognized some nominal amount of revenues since inception, the Company is still devoting substantially all of its efforts on establishing the business and its planned principal operations have not commenced.  All losses accumulated since inception have been considered as part of the Company’s development stage activities.
 
 Use of estimates
 
 The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates.
 
 Due to the limited level of operations, the Company has not had to make material assumptions or estimates other than the assumption that the Company is a going concern.
 
 Cash equivalents
 
 The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents.
 
 Fair value of financial instruments
 
 The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments.  Paragraph 820-10-35-37 establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (U.S. GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels.  The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs.  The three (3) levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below:
 
  F-6
  Level 1
Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.Level 2
Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.Level 3
Pricing inputs that are generally observable inputs and not corroborated by market data.
 
 The carrying amounts of the Company’s financial assets and liabilities, such as cash and accrued expenses approximate its fair values because of the short maturity of this instrument.
 
 The Company does not have any assets or liabilities measured at fair value on a recurring or a non-recurring basis, consequently, the Company did not have any fair value adjustments for assets and liabilities measured at fair value at December 31, 2010 or 2009; no gains or losses are reported in the statement of operations that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date for the periods ended December 31, 2010 and 2009 and for the period from May 22, 2008 (inception) through December 31, 2010.
 
 Revenue recognition
 
 The Company applies paragraph 605-10-S99-1 of the FASB Accounting Standards Codification for revenue recognition.  The Company will recognize revenue when it is realized or realizable and earned.  The Company considers revenue realized or realizable and earned when all of the following criteria are met: (i) persuasive evidence of an arrangement exists, (ii) the product has been shipped or the services have been rendered to the customer, (iii) the sales price is fixed or determinable, and (iv) collectability is reasonably assured.
 
 Income taxes
 
 The Company follows Section 740-10-30 of the FASB Accounting Standards Codification, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns.  Under this method, deferred tax assets and liabilities are based on the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse.  Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized.  Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.  The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the Statements of Operations in the period that includes the enactment date.
 
 The Company adopted section 740-10-25 of the FASB Accounting Standards Codification (“Section 740-10-25”). Section 740-10-25.addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements.  Under Section 740-10-25, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position.  The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement.  Section 740-10-25 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures.  The Company had no material adjustments to its liabilities for unrecognized income tax benefits according to the provisions of Section 740-10-25.
 
 Net loss per common share
 
 Net loss per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification.  Basic net loss per common share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period.  Diluted net loss per common share is computed by dividing net loss by the weighted average number of shares of common stock and potentially outstanding shares of common stock during the period.  There were no potentially dilutive shares outstanding as of December 31, 2010 or 2009.
 
 Commitments and contingencies
  The Company follows subtopic 450-20 of the FASB Accounting Standards Codification to report accounting for contingencies.  Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated.
  F-7
  Cash flows reporting
  The Company adopted paragraph 230-10-45-24 of the FASB Accounting Standards Codification for cash flows reporting, classifies cash receipts and payments according to whether they stem from operating, investing, or financing activities and provides definitions of each category, and uses the indirect or reconciliation method (“Indirect method”) as defined by paragraph 230-10-45-25 of the FASB Accounting Standards Codification to report net cash flow from operating activities by adjusting net income to reconcile it to net cash flow from operating activities by removing the effects of (a) all deferrals of past operating cash receipts and payments and all accruals of expected future operating cash receipts and payments and (b) all items that are included in net income that do not affect operating cash receipts and payments.  The Company reports the reporting currency equivalent of foreign currency cash flows, using the current exchange rate at the time of the cash flows and the effect of exchange rate changes on cash held in foreign currencies is reported as a separate item in the reconciliation of beginning and ending balances of cash and cash equivalents and separately provides information about investing and financing activities not resulting in cash receipts or payments in the period pursuant to paragraph 830-230-45-1 of the FASB Accounting Standards Codification.
  Subsequent events
  The Company follows the guidance in Section 855-10-50 of the FASB Accounting Standards Codification for the disclosure of subsequent events. The Company will evaluate subsequent events through the date when the financial statements were issued.  Pursuant to ASU 2010-09 of the FASB Accounting Standards Codification, the Company as an SEC filer considers its financial statements issued when they are widely distributed to users, such as through filing them on EDGAR.
  Recently Issued Accounting Pronouncements
 
 In January 2010, the FASB issued the FASB Accounting Standards Update No. 2010-06 “Fair Value Measurements and Disclosures (Topic 820) Improving Disclosures about Fair Value Measurements”, which provides amendments to Subtopic 820-10 that require new disclosures as follows:
 
 1.
Transfers in and out of Levels 1 and 2. A reporting entity should disclose separately the amounts of significant transfers in and out of Level 1 and Level 2 fair value measurements and describe the reasons for the transfers.2.
Activity in Level 3 fair value measurements. In the reconciliation for fair value measurements using significant unobservable inputs (Level 3), a reporting entity should present separately information about purchases, sales, issuances, and settlements (that is, on a gross basis rather than as one net number).
 
 This Update provides amendments to Subtopic 820-10 that clarify existing disclosures as follows:
 
 1.
Level of disaggregation. A reporting entity should provide fair value measurement disclosures for each class of assets and liabilities. A class is often a subset of assets or liabilities within a line item in the statement of financial position. A reporting entity needs to use judgment in determining the appropriate classes of assets and liabilities.2.
Disclosures about inputs and valuation techniques. A reporting entity should provide disclosures about the valuation techniques and inputs used to measure fair value for both recurring and nonrecurring fair value measurements. Those disclosures are required for fair value measurements that fall in either Level 2 or Level 3.
 
 This Update also includes conforming amendments to the guidance on employers' disclosures about postretirement benefit plan assets (Subtopic 715-20). The conforming amendments to Subtopic 715-20 change the terminology from major categoriesof assets to classesof assets and provide a cross reference to the guidance in Subtopic 820-10 on how to determine appropriate classes to presentfair value disclosures. The new disclosures and clarifications of existing disclosures are effective for interim and annual reporting periods beginning after December 15, 2009, except for the disclosures about purchases, sales, issuances, and settlements in the roll forward of activity in Level 3 fair value measurements. Those disclosures are effective for fiscal years beginning after December 15, 2010, and for interim periods within those fiscal years.
 
 F-8
   In August 2010, the FASB issued ASU 2010-21, “Accounting for Technical Amendments to Various SEC Rules and Schedules: Amendments to SEC Paragraphs Pursuant to Release No. 33-9026: Technical Amendments to Rules, Forms, Schedules and Codification of Financial Reporting Policies” (“ASU 2010-21”),was issued to conform the SEC’s reporting requirements to the terminology and provisions in ASC 805, Business Combinations, and in ASC 810-10, Consolidation. ASU No. 2010-21 was issued to reflect SEC Release No. 33-9026, “Technical Amendments to Rules, Forms, Schedules and Codification of Financial Reporting Policies,” which was effective April 23, 2009. The ASU also proposes additions or modifications to the XBRL taxonomy as a result of the amendments in the update.
  In August 2010, the FASB issued ASU 2010-22, “Accounting for Various Topics: Technical Corrections to SEC Paragraphs” (“ASU 2010-22”), which amends various SEC paragraphs based on external comments received and the issuance of SEC Staff Accounting Bulletin (SAB) No. 112, which amends or rescinds portions of certain SAB topics.  The topics affected include reporting of inventories in condensed financial statements for Form 10-Q, debt issue costs in conjunction with a business combination, sales of  stock by subsidiary, gain recognition on sales of business, business combinations prior to an initial public offering, loss contingent and liability assumed in business combination, divestitures, and oil and gas exchange offers.
  In December 2010, the FASB issued the FASB Accounting Standards Update No. 2010-28 “Intangibles—Goodwill and Other (Topic 350): When to Perform Step 2 of the Goodwill Impairment Test for Reporting Units with Zero or Negative Carrying Amounts” (“ASU 2010-28”).Under ASU 2010-28, if the carrying amount of a reporting unit is zero or negative, an entity must assess whether it is more likely than not that goodwill impairment exists. To make that determination, an entity should consider whether there are adverse qualitative factors that could impact the amount of goodwill, including those listed in ASC 350-20-35-30. As a result of the new guidance, an entity can no longer assert that a reporting unit is not required to perform the second step of the goodwill impairment test because the carrying amount of the reporting unit is zero or negative, despite the existence of qualitative factors that indicate goodwill is more likely than not impaired. ASU 2010-28 is effective for public entities for fiscal years, and for interim periods within those years, beginning after December 15, 2010, with early adoption prohibited.
  In December 2010, the FASB issued the FASB Accounting Standards Update No. 2010-29 “Business Combinations (Topic 805): Disclosure of Supplementary Pro Forma Information for Business Combinations” (“ASU 2010-29”). ASU 2010-29 specifies that if a public entity presents comparative financial statements, the entity should disclose revenue and earnings of the combined entity as though the business combination(s) that occurred during the current year had occurred as of the beginning of the comparable prior annual reporting period only. The amendments in this Update also expand the supplemental pro forma disclosures under Topic 805 to include a description of the nature and amount of material, nonrecurring pro forma adjustments directly attributable to the business combination included in the reported pro forma revenue and earnings. The amended guidance is effective prospectively for business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after December 15, 2010. Early adoption is permitted.
  Management does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying consolidated financial statements.
 
 NOTE 3 – GOING CONCERN
 
 The accompanying financial statements have been prepared assuming that the Company will continue as a going concern.  As reflected in the accompanying financial statements, the Company had a deficit accumulated during the development stage of $41,461 at December 31, 2010, a net loss from operations of $29,358 and net cash used in operating activities of $19,946 for the year then ended, respectively, with nominal revenues earned since inception.
 
 While the Company is attempting to commence operations and produce revenues, the Company’s cash position may not be significant enough to support the Company’s daily operations. Management intends to raise additional funds by way of a public or private offering.  Management believes that the actions presently being taken to further implement its business plan and generate revenues provide the opportunity for the Company to continue as a going concern. While the Company believes in the viability of its strategy to increase revenues and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the Company’s ability to further implement its business plan and generate revenues.
 
 F-9
  The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.
 
 NOTE 4 – STOCKHOLDERS’ EQUITY (DEFICIT)
 
 Preferred stock
 
 Preferred stock includes 10,000,000 shares authorized at a par value of $0.001, of which none are issued or outstanding.
 
 Common stock
 
 Common stock includes 500,000,000 shares authorized at a par value of $0.001, of which 2,000,000 have been issued to its Chief Executive Officer at their par value of $0.001 per share or $2,000 for compensation.
 
 From August 12, 2008 through September 18, 2008, the Company sold 108,000 shares of its common stock at $0.05 per share to 6 individuals for a total of $5,400.
 
 From January 5, 2010 through February 22, 2010, the Company sold 695,000 shares of its common stock in a private placement at $0.05 per share to 34 individuals for a total of $34,750.
 
 NOTE 5 – INCOME TAXES
 
 Deferred tax assets
  At December 31, 2010, the Company had net operating loss (“NOL”) carry–forwards for Federal income    tax purposes of $41,461 that may be offset against future taxable income through 2030.  No tax benefit has been reported with respect to these net operating loss carry-forwards in the accompanying financial statements because the Company believes that the realization of the Company’s net deferred tax assets of approximately $14,097 was not considered more likely than not and accordingly, the potential tax benefits of the net loss carry-forwards are fully offset by a valuation allowance of $14,097.
  Deferred tax assets consist primarily of the tax effect of NOL carry-forwards.  The Company has provided a full valuation allowance on the deferred tax assets because of the uncertainty regarding its realization. The valuation allowance increased approximately $9,982 and $2,675 for the years ended December 31, 2010 and 2009, respectively.
  Components of deferred tax assets at December 31, 2010 are as follows:
  December 31, 2010


December 31, 2009Net deferred tax assets – Non-current:Expected income tax benefit from NOL carry-forwards

$
14,097


$
4,115Less valuation allowance


(14,097
)


(4,115
)Deferred tax assets, net of valuation allowance

$
-


$
-
  F-10
   Income taxes in the statements of operations
  A reconciliation of the federal statutory income tax rate and the effective income tax rate as a percentage   of income before income taxes is as follows:
  For the

Year Ended

December 31, 2010


For the

Year Ended

December 31, 2009Federal statutory income tax rate


34.0
%


34.0
%Change in valuation allowance on net operating loss carry-forwards


(34.0
)%


(34.0
)%Effective income tax rate


0.0
%


0.0
%
  NOTE 6 – RELATED PARTY TRANSACTION
 
 Free office space
 
 The Company has been provided office space by its Chief Executive Officer at no cost. The management determined that such cost is nominal and did not recognize the rent expense in its financial statement.
 
 Capital contribution
 
 In May 2008, the Company’s Chief Executive Officer contributed $296 for the general working capital.
 
 In December 2010, the Company’s Chief Executive Officer contributed $20 for the general working capital.
 
 NOTE 7 – COMMITMENTS
 
 Entry into an employment agreement
 
 On March 1, 2010, the Company entered into an employment agreement (“Employment Agreement) with its president and chief executive officer (“Employee”), which requires that the Employee to be paid a minimum of $500 per month for three (3) years from date of signing. The employee or the Company has the right to terminate the Employment Agreement upon thirty (30) days’ notice to the other party.
 
 
 NOTE 8 – SUBSEQUENT EVENTS
 
 The Company has evaluated all events that occurred after the balance sheet date through the date when the financial statements were issued to determine if they must be reported. The Management of the Company determined that there were no reportable subsequent events to be disclosed.












F-11




ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE




We do not presently intend to change accountant. At no time have there been any disagreements with such accountants regarding any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure.




ITEM 9A(T). CONTROLS AND PROCEDURES




Evaluation of Disclosure Controls and Procedures




Pursuant to Rule 13a-15(b) under the Securities Exchange Act of 1934 (“Exchange Act”), the Company carried out an evaluation, with the participation of the Company’s management, including the Company’s Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”) (the Company’s principal financial and accounting officer), of the effectiveness of the Company’s disclosure controls and procedures (as defined under Rule 13a-15(e) under the Exchange Act) as of the end of the period covered by this report. Based upon that evaluation, the Company’s CEO and CFO concluded that the Company’s disclosure controls and procedures are effective to ensure that information required to be disclosed by the Company in the reports that the Company files or submits under the Exchange Act, is recorded, processed, summarized and reported, within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to the Company’s management, including the Company’s CEO and CFO, as appropriate, to allow timely decisions regarding required disclosure.




Management's Annual Report on Internal Control Over Financial Reporting.




The management of the Company is responsible for establishing and maintaining adequate internal control over financial reporting for the Company. Our internal control system was designed to, in general, provide reasonable assurance to the Company’s management and board regarding the preparation and fair presentation of published financial statements, but because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.




Our management assessed the effectiveness of the Company’s internal control over financial reporting as of December 31, 2010. The framework used by management in making that assessment was the criteria set forth in the document entitled “ Internal Control – Integrated Framework” issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on that assessment, our management has determined that as of December 31, 2010, the Company’s internal control over financial reporting was effective for the purposes for which it is intended.




This annual report does not include an attestation report of the Company’s registered public accounting firm regarding internal control over financial reporting. Management's report was not subject to attestation by the Company's registered public accounting firm pursuant to temporary rules of the Securities and Exchange Commission that permit the Company to provide only management's report in this annual report.




Changes in Internal Control over Financial Reporting




No change in our system of internal control over financial reporting occurred during the period covered by this report, fourth quarter of the fiscal year ended December 31, 2010 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.




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PART III




ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE




Our executive officer’s and director’s and their respective ages as of March 31, 2011 are as follows:




NAME

AGE

POSITIONNovaira Haider


44

President, Chief Executive Officer, Treasurer, Director




Set forth below is a brief description of the background and business experience of our executive officers and directors for the past five years.




Novaira Haider




Ms. Haider attended Corcoran School of Arts  & Design in 1985 – 1989 and graduated with a Bachelor of Arts degree. Following her graduation from Corcoran, Ms. Haider was a free lance photographer. She then attended Meridian Institute from 1999 – 2003 where she studied psychology. In 1999, Ms. Haider took a management position at Etore, a high-end spa in Philadelphia, where she managed the day to day operations of the business until 2003. In 2004, Ms. Haider became the manager of another spa, Comfort and Joy, where she was responsible for hiring and supervising staff, marketing the business, and managing the day to day operations of the business until 2006. In 2006, Ms. Haider became the manager of Khalsa Jewelry, a high end jewelry store. She maintained her position there until 2010 when she became involved with Resume In Minutes. She plans to use her expertise in sales and marketing and overall small business management to grow the Resume In Minutes business.




Term of Office




Our directors are appointed for a one-year term to hold office until the next annual general meeting of our shareholders or until removed from office in accordance with our bylaws. Our officers are appointed by our board of directors and hold office until removed by the board.




ITEM 11. EXECUTIVE COMPENSATION




Summary Compensation Table; Compensation of Executive Officers




The following summary compensation table sets forth all compensation awarded to, earned by, or paid to the named executive officers paid by us during the period ended December 31, 2010 and 2009 in all capacities for the accounts of our executives, including the Chief Executive Officer (CEO) and Chief Financial Officer (CFO):




SUMMARY COMPENSATION TABLE




Name

and

Principal

Position

Year

Salary

($)

Bonus

($)

Stock

Awards

($)

Option Awards

($)

Non-Equity

Incentive

Plan

Compensation

($)

Non-Qualified Deferred Compensation Earnings

($)

All

Other Compensation

($)

Totals

($)Novaira Haider, Chief Executive Officer and Treasurer

2010

$
5,000

0


0

0


0

0

0

$
5,0002009

$
0

0


0

0


0

0

0

$
0




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Option Grants Table. There were no individual grants of stock options to purchase our common stock made to the executive officer named in the Summary Compensation Table through December 31, 2010.




Aggregated Option Exercises and Fiscal Year-End Option Value Table. There were no stock options exercised during period ending December 31, 2010 by the executive officer named in the Summary Compensation Table.




Long-Term Incentive Plan (“LTIP”) Awards Table. There were no awards made to a named executive officer in the last completed fiscal year under any LTIP




Compensation of Directors




Directors are permitted to receive fixed fees and other compensation for their services as directors. The Board of Directors has the authority to fix the compensation of directors. No amounts have been paid to, or accrued to, directors in such capacity.




Employment Agreements




On March 1, 2010 we entered into an employment agreement with our sole Officer and Director Novaira Haider (the “Employee”).  The employment agreement is for a term of three years, and is automatically renewed annually unless the Board of Directors or the Employee notifies each other in writing their intent to terminate the employment agreement.  The Employee shall be paid $500 per month.




ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT




The following table provides the names and addresses of each person known to us to own more than 5% of our outstanding shares of common stock as of March 31, 2011 and by the officers and directors, individually and as a group. Except as otherwise indicated, all shares are owned directly.





Title of Class
Name and Addressof Beneficial Owner

Amount and Nature

of Beneficial Owner


Percent

of Class (1)Common Stock
Novaira Haider


2,000,000



71.352
%





(1)  Based upon 2,803,000 shares outstanding as of March 31, 2011.




ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE




Upon formation we issued 2,000,000 founder shares of common stock to Marc Anthony pursuant to an exemption from registration set forth in Section 4(2) of the Securities Act of 1933.  The shares were issued in exchange for services rendered to us and were subsequently transferred to Novaira Haider.




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ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES




Audit Fees




For the Company’s fiscal year ended December 31, 2010, we were billed approximately $__ for professional services rendered for the audit and reviews of our financial statements.




Audit Related Fees




The Company did not incur any audit related fees, other than the fees discussed in Audit Fees, above, for services related to our audit for the fiscal year ended December 31, 2010.




Tax Fees





For the Company’s fiscal year ended December 31, 2010, we were not billed for professional services rendered for tax compliance, tax advice, and tax planning.




All Other Fees




The Company did not incur any other fees related to services rendered by our principal accountant for the fiscal year ended December 31, 2010.




Pursuant to the requirements of Section 13 or 15(d) 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.




Effective May 6, 2003, the Securities and Exchange Commission adopted rules that require that before our auditor is engaged by us to render any auditing or permitted non-audit related service, the engagement be:




·
approved by our audit committee; or




·
entered into pursuant to pre-approval policies and procedures established by the audit committee, provided the policies and procedures are detailed as to the particular service, the audit committee is informed of each service, and such policies and procedures do not include delegation of the audit committee's responsibilities to management.




We do not have an audit committee. Our entire board of directors pre-approves all services provided by our independent auditors. The pre-approval process has just been implemented in response to the new rules. Therefore, our board of directors does not have records of what percentage of the above fees were pre-approved. However, all of the above services and fees were reviewed and approved by the entire board of directors either before or after the respective services were rendered.




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PART IV




ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES.




a) Documents filed as part of this Annual Report




1. Financial Statements




2. Financial Statement Schedules




3. Exhibits




Exhibit No.
Title of Document31.1
Rule 13a-14(a)/ 15d-14(a) Certification of Chief Executive Officer32.1
Section 1350 Certification of Chief Executive Officer




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SIGNATURES




In accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.




RESUME IN MINUTES, INC.By:
/s/ Novaira HaiderNovaira HaiderChief Executive Officer  President and DirectorDated:
March 31, 2011




Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.




Name

Title
Date/s/ Novaira Haider

President and Director
March 31, 2011Novaira Haider














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