**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**____________________**

**FORM 10-Q**

**____________________**

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

**For the quarterly period ended June 30, 2010**

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

**For the transition period from ____________ to____________**

**Commission File No. **000-49652

**ZALDIVA, INC.**

(Exact name of registrant as specified in its charter)
|  

 

 

 

Florida

65-0773383

(State or other jurisdiction of

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

incorporation or organization)

  

331 East Commercial Blvd.

Oakland Park, Florida 33334

 (Address of principal executive offices)

(954) 938-4133

 (Registrant’s telephone number, including area code)

N/A

(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. Yes [X] No [  ]

Indicate by check mark whether the Registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§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 [  ] 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 definition of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.  (Check one):

Large accelerated filer [  ]  Accelerated filer [  ]   Non-accelerated filer [  ]  Smaller reporting company [X]

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

Yes [   ] No [X]

**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.

Not applicable.

**APPLICABLE ONLY TO CORPORATE ISSUERS**

Indicate the number of shares outstanding of each of the Registrant’s classes of common stock, as of the latest practicable date:

August 13, 2010 - Common – 12,359,999

August 13, 2010 - Preferred – 500,000

**PART I**

**Item 1.  Financial Statements**

The financial statements of the registrant required to be filed with this Quarterly Report on Form 10-Q were prepared by management and commence below, together with related notes. In the opinion of management, the financial statements fairly present the financial condition of the registrant.

**ZALDIVA, INC.**

**Balance Sheets**

 

 

 

 

 

 

 

 

 

ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30,

 

September 30,

 

 

 

 

2010

 

2009

CURRENT ASSETS

(Unaudited)

 

(Audited)

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

$

27,233

 

$

12,936

 

Inventories

 

48,030

 

 

68,979

 

 

 

 

 

 

 

 

 

 

 

Total Current Assets

 

75,263

 

 

81,915

 

 

 

 

 

 

 

 

 

PROPERTY & EQUIPMENT, Net

 

623,192

 

 

634,723

 

 

 

 

 

 

 

 

 

 

 

TOTAL ASSETS

$

698,455

 

$

716,638

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS' EQUITY 

 

 

 

 

 

 

 

 

 

CURRENT LIABILITIES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accounts payable and accrued expenses

$

17,983

 

$

8,612

 

Notes payable - related party

 

50,000

 

 

-

 

Convertible notes payable, net

 

13,254

 

 

-

 

Convertible preferred stock; $0.001 par value, 

 

 

 

 

 

 

   20,000,000 shares authorized, 500,000 shares

 

 

 

 

 

 

   issued and outstanding, respectively

 

588,235

 

 

588,235

 

 

 

 

 

 

 

 

 

 

 

Total Current Liabilities

 

669,472

 

 

596,847

 

 

 

 

 

 

 

 

 

STOCKHOLDERS' EQUITY 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common stock; $0.001 par value, 50,000,000

 

 

 

 

 

 

   shares authorized, 12,359,999 and 9,018,332 shares

 

 

 

 

 

 

   issued and outstanding, respectively

 

12,360

 

 

9,018

 

Additional paid-in capital

 

2,823,874

 

 

2,633,952

 

Accumulated deficit

 

(2,807,251)

 

 

(2,523,179)

 

 

 

 

 

 

 

 

 

 

 

Total Stockholders' Equity 

 

28,983

 

 

119,791

 

 

TOTAL LIABILITIES AND 

 

 

 

 

 

 

 

   STOCKHOLDERS' EQUITY 

$

698,455

 

$

716,638

The accompanying condensed notes are an integral part of these interim financial statements.

**ZALDIVA, INC.**

**Statements of Operations**

**(Unaudited)**

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Three Months Ended

 

For the Nine Months Ended

 

 

 

June 30,

 

June 30,

 

 

 

2010

 

2009

 

2010

 

2009

 

 

 

 

 

 

 

 

 

 

 

 

 

 

REVENUES

$

   51,850 

 

$

  61,789 

 

$

  178,212 

 

$

  219,779 

COST OF SALES

 

   33,065 

 

 

  37,283 

 

 

  113,650 

 

 

  124,865 

GROSS PROFIT

 

   18,785 

 

 

  24,506 

 

 

  64,562 

 

 

    94,914 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OPERATING EXPENSES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

General and administrative expenses

 

    22,873 

 

 

246,257 

 

 

 257,332 

 

 

  287,174 

 

Professional fees

 

    40,240 

 

 

 393,056 

 

 

 82,331 

 

 

 653,776 

 

Advertising expense

 

  12,495 

 

 

  3,683 

 

 

 15,418 

 

 

      9,210 

 

Depreciation expense

 

     3,844 

 

 

   3,992 

 

 

  11,531 

 

 

  11,977 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Operating Expenses

 

79,452 

 

 

 646,988 

 

 

366,612 

 

 

  962,137 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OPERATING LOSS

 

  (60,667)

 

 

(622,482)

 

 

 (302,050)

 

 

 (867,223)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OTHER INCOME (EXPENSE)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

     10 

 

 

  124 

 

 

              18 

 

 

   461 

 

Interest expense

 

  (21,540)

 

 

  (5,882)

 

 

 (38,290)

 

 

 (17,647)

 

Gain on settlement of liability

 

 56,250 

 

 

         - 

 

 

 56,250 

 

 

           - 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Other Income (Expense)

 

 34,720 

 

 

 (5,758)

 

 

17,978 

 

 

  (17,186)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LOSS BEFORE INCOME TAXES

 

  (25,947)

 

 

(628,240)

 

 

(284,072)

 

 

(884,409)

PROVISION FOR INCOME TAXES

 

         - 

 

 

          - 

 

 

            - 

 

 

           - 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NET LOSS

$

   (25,947)

 

$

(628,240)

 

$

(284,072)

 

$

(884,409)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BASIC AND DILUTED  

 

 

 

 

 

 

 

 

 

 

 

 

  LOSS PER SHARE

$

(0.00)

 

$

(0.07)

 

$

(0.02)

 

$

(0.10)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

WEIGHTED AVERAGE  

 

 

 

 

 

 

 

 

 

 

 

 

  NUMBER OF SHARES

 

 

 

 

 

 

 

 

 

 

 

 

  OUTSTANDING

 

12,102,856 

 

 

9,018,332 

 

 

11,349,827 

 

 

8,584,449 

**ZALDIVA, INC.**

**Statements of Cash Flows**

**(Unaudited)**

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Nine Months Ended

 

 

 

 

June 30,

 

 

 

 

2010

 

2009

OPERATING ACTIVITIES

 

 

 

 

 

 

Net loss

$

   (284,072)

 

$

   (884,409)

 

Adjustments to reconcile net loss to net cash

 

 

 

 

 

 

  used by operating activities:

 

 

 

 

 

 

 

Amortization of beneficial conversion feature

 

      13,254 

 

 

              - 

 

 

Common stock issued for services

 

42,750 

 

 

      75,000 

 

 

Depreciation, depletion and amortization

 

      11,531 

 

 

      11,977 

 

 

Exercise of cashless warrants

 

       5,958 

 

 

              - 

 

 

Fair value of options

 

      44,556 

 

 

    447,171 

 

 

Fair value of warrants

 

              - 

 

 

    305,565 

 

 

Gain on settlement of liability

 

     (56,250)

 

 

              - 

 

Changes in operating assets and liabilities

 

 

 

 

 

 

 

(Increase) decrease in inventory

 

      20,949 

 

 

       1,888 

 

 

Increase (decrease) in current liabilities

 

      65,621 

 

 

     (11,966)

 

 

 

 

 

 

 

 

 

 

 

 

Net Cash Used by Operating Activities

 

   (135,703)

 

 

     (54,774)

 

 

 

 

 

 

 

 

 

INVESTING ACTIVITIES

 

              - 

 

 

              - 

 

 

 

 

 

 

 

 

 

FINANCING ACTIVITIES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Proceeds from related party payable

 

      66,000 

 

 

              - 

 

Repayments of related party payable

 

     (16,000)

 

 

              - 

 

Proceeds from convertible note payable

 

      75,000 

 

 

              - 

 

Common stock issued for cash

 

      25,000 

 

 

      76,250 

 

 

 

 

 

 

 

 

 

 

 

Net Cash Provided by Financing Activities

 

    150,000 

 

 

      76,250 

 

 

 

 

 

 

 

 

 

NET INCREASE IN CASH

 

      14,297 

 

 

      21,476 

CASH AT BEGINNING OF PERIOD

 

      12,936 

 

 

      16,967 

 

 

 

 

 

 

 

 

 

CASH AT END OF PERIOD

$

      27,233 

 

$

      38,443 

 

 

 

 

 

   

 

 

   

SUPPLEMENTAL DISCLOSURES OF

 

 

 

 

 

 

CASH FLOW INFORMATION

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CASH PAID FOR:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest

$

       9,000 

 

$

      12,173 

 

 

Income Taxes

$

              - 

 

$

              - 

The accompanying condensed notes are an integral part of these interim financial statements.

**ZALDIVA, INC.**

**Notes to the Condensed Financial Statements**

**June 30, 2010 and September 30, 2009**

**NOTE 1 - CONDENSED 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 June 30, 2010, and for all periods presented herein, 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 September 30, 2009 audited financial statements.  The results of operations for the period ended June 30, 2010 is not necessarily indicative of the operating results for the full year.

**NOTE 2 - GOING CONCERN**

The Company's financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations.

In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management's plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking equity and/or debt financing. However management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.

The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

**NOTE 3 – SIGNIFICANT ACCOUNTING POLICIES**

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

**ZALDIVA, INC.**

**Notes to the Condensed Financial Statements**

**June 30, 2010 and September 30, 2009**

**NOTE 3 – SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)**

Recent Accounting Pronouncements

In October  2009,  the FASB issued ASU  2009-13,  Multiple-Deliverable Revenue  Arrangements, (amendments  to FASB ASC  Topic  605,  Revenue Recognition)  ("ASU  2009-13") and ASU 2009-14, Certain  Arrangements That Include  Software  Elements,  (amendments  to FASB ASC Topic 985, Software) ("ASU  2009-14"). ASU 2009-13 requires entities to allocate revenue in an arrangement using estimated selling prices of the delivered goods and services based on a selling price hierarchy.  The amendments eliminate the residual method of revenue allocation and require revenue to be allocated using the relative selling price method. ASU  2009-14  removes  tangible products  from  the  scope of software revenue guidance and provides guidance on determining whether software deliverables  in an arrangement that  includes  a tangible product are covered by the scope of the software revenue guidance. ASU 2009-13 and ASU 2009-14  should be applied on a prospective  basis for revenue arrangements entered into or materially  modified in fiscal years  beginning  on or  after  June 15,  2010,  with  early  adoption permitted. The Company is currently  evaluating,  but does not expect adoption of ASU  2009-13 or ASU  2009-14 to have a material  impact on the  Company's   consolidated   results  of  operations  or  financial condition.

In January 2010, the FASB issued Accounting Standards Update 2010-02, Consolidation (Topic 810): Accounting and Reporting for Decreases in Ownership of a Subsidiary. This amendment to Topic 810 clarifies, but does not change, the scope of current US GAAP. It clarifies the decrease in ownership provisions of Subtopic 810-10 and removes the potential conflict between guidance in that Subtopic and asset de-recognition and gain or loss recognition guidance that may exist in other US GAAP. An entity will be required to follow the amended guidance beginning in the period that it first adopts FAS 160 (now included in Subtopic 810-10). For those entities that have already adopted FAS 160, the amendments are effective at the beginning of the first interim or annual reporting period ending on or after December 15, 2009. The amendments should be applied retrospectively to the first period that an entity adopted FAS 160. The adoption of the provisions of ASU 2010-02 did not have a material effect on the financial position, results of operations or cash flows of the Company.

In January 2010, the FASB issued Accounting Standards Update 2010-01, Equity (Topic 505): Accounting for Distributions to Shareholders with Components of Stock and Cash (A Consensus of the FASB Emerging Issues Task Force). This amendment to Topic 505 clarifies the stock portion of a distribution to shareholders that allows them to elect to receive cash or stock with a limit on the amount of cash that will be distributed is not a stock dividend for purposes of applying Topics 505 and 260. Effective for interim and annual periods ending on or after December 15, 2009, and would be applied on a retrospective basis. The the adoption of the provisions of ASU 2010-01 did not have a material effect on the financial position, results of operations or cash flows of the Company.

In February 2010, the FASB issued ASU 2010-09, "Subsequent Events (Topic 855) - Amendments to Certain Recognition and Disclosure Requirements." ASU 2010-09 requires an entity that is a filer with the United States Securities and Exchange Commission (the “SEC”) to evaluate subsequent events through the date that the financial statements are issued and removes the requirement that an SEC filer disclose the date through which subsequent events have been evaluated. ASC 2010-09 was effective upon issuance. The adoption of this standard had no effect on our results of operation or our financial position.

**ZALDIVA, INC.**

**Notes to the Condensed Financial Statements**

**June 30, 2010 and September 30, 2009**

**NOTE 3 – SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)**

Recent Accounting Pronouncements (continued)

In April 2010, the FASB issued ASU 2010-13, "Compensation - Stock Compensation (Topic 718) - Effect of Denominating the Exercise Price of a Share-Based Payment Award in the Currency of the Market in Which the Underlying Equity Security Trades." ASU 2010-13 provides amendments to Topic 718 to clarify that an employee share-based payment award with an exercise price denominated in the currency of a market in which a substantial portion of the entity's equity securities trades should not be considered to contain a condition that is not a market, performance, or service condition. Therefore, an entity would not classify such an award as a liability if it otherwise qualifies as equity. The amendments in ASU 2010-13 are effective for fiscal years, and interim periods within those fiscal years, beginning on or after December 15, 2010. The adoption of this standard will not have an effect on our results of operation or our financial position.

With the exception of the pronouncements noted above, no other accounting standards or interpretations issued or recently adopted are expected to have a material impact on the Company’s financial position, operations or cash flows.

**NOTE 4 –RELATED PARTY PAYABLES**

On November 13, 2009 a principal shareholder loaned the Company $16,000 on a short-term basis. The note accrued interest at $1,500 per month, was non-collateralized and was repaid, including accrued interest of $9,000, on May 10, 2010. On March 30, 2010, the shareholder lent an additional $50,000 to the Company. The $50,000 note payable is unsecured, bears interest at 6% per annum and is due upon demand.

As of June 30, 2010 the Company has accrued $10,000 of dividend payable related to the outstanding convertible preferred stock and $1,036 of interest payable on the related party note.

**NOTE 5 – NOTES PAYABLE**

On November 16, 2009, the Company entered into an Investment Banking and Advisory Agreement for general business advice and assistance to be provided and to use its best efforts with respect to an initial private placement.

In conjunction with this agreement, the Company paid a total of $30,000 in cash and accrued an additional $56,250 in unpaid fees through May 4, 2010.  On May 4, 2010, Charles Morgan resigned as the Company’s consultant and terminated the agreement.  As such, all amounts owed to Charles Morgan have been waived as part of the resignation.  The Company recognized a gain on the settlement of debt of $56,250.

**ZALDIVA, INC.**

**Notes to the Condensed Financial Statements**

**June 30, 2010 and September 30, 2009**

**NOTE 5 – NOTES PAYABLES (CONTINUED)**

On April 28, 2010 the Company signed a $50,000 convertible promissory note with a third party.  The note bears interest at 8% per annum and is due on January 31, 2011.  The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a price equal to 50% of the average of the lowest three trading prices for the Common Stock during the most recent ten day period.  

In accordance with ASC 470, the Company has analyzed the beneficial nature of the conversion terms and determined that a beneficial conversion feature (BCF) exists.  The Company calculated the value of the BCF using the intrinsic method as stipulated in ASC 470.  Based on the stock price on the day of commitment, the discount as agreed to in the note, and the number of convertible shares, and the value of the options included in the units, the BCF was valued at $50,000.  The BCF has been recorded as a discount to the note payable and to Additional Paid-in Capital.

As of June 30, 2010 the Company has recognized $690 in interest expense related to this note and has amortized $11,311 of the beneficial conversion feature which has been recorded as interest expense.

On June 4, 2010 the Company signed a $25,000 convertible promissory note with a third party.  The note bears interest at 8% per annum and is due on March 9, 2011.  The note has conversion rights that allow the holder of the note at any time to convert all or any part of the remaining principal balance into the Company’s common stock at a price equal to the lower of $0.0035 per share or 50% of the average of the lowest three trading prices for the Common Stock during the most recent ten day period.  

In accordance with ASC 470, the Company has analyzed the beneficial nature of the conversion terms and determined that a beneficial conversion feature (BCF) exists.  The Company calculated the value of the BCF using the intrinsic method as stipulated in ASC 470.  Based on the stock price on the day of commitment, the discount as agreed to in the note, and the number of convertible shares, and the value of the options included in the units, the BCF was valued at $25,000.  The BCF has been recorded as a discount to the note payable and to Additional Paid-in Capital.

As of June 30, 2010 the Company has recognized $345 in interest expense related to this note and has amortized $1,923 of the beneficial conversion feature which has been recorded as interest expense.

**NOTE 6 – EQUITY ACTIVITY**

On October 2, 2009 the owners of cashless warrants exercised a total of 1,191,667 shares of common stock and recognized an expense of $5,958.

On November 16, 2009 the Company entered into a consulting agreement and issued 350,000 shares of common stock valued at $14,875 as part of that contract.  In conjunction with this agreement the Company also issued 1,000,000 options valued at $38,181.  This agreement was cancelled on May 4, 2010; however, all common stock and options had vested and thus all costs associated with these issuances are reflected in the Company’s statements of operations.

On November 18, 2009 the Company issued 100,000 shares of common stock valued at $5,000 to an employee.

On January 27, 2010 the Company issued 1,250,000 shares of common stock for cash at $0.02 per share.

**ZALDIVA, INC.**

**Notes to the Condensed Financial Statements**

**June 30, 2010 and September 30, 2009**

**NOTE 6 – EQUITY ACTIVITY (CONTINUED)**

On February 16, 2010 the Company issued an additional 150,000 shares, under the terms of the consulting agreement mentioned previously, valued at $6,375. This agreement was cancelled on May 4, 2010 however all options had vested and thus all costs associated with these issuances are reflected in the Company’s statements of operations.

On June 17, 2010 the Company issued 300,000 shares of common stock valued at $16,500 based on the market price of the shares to a consultant for services performed.  The Company records the stock-based compensation awards issued to non-employees for goods and services at either the fair market value of the goods received or services rendered or the instruments issued in exchange for such services, whichever is more readily determinable, using the measurement date guidelines enumerated in FASB ASC 505-50-30. 

 

**NOTE 7 – SUBSEQUENT EVENTS**

Effective as of July 1, 2010, the Board of Directors of the Company resolved to file a Certificate of Amendment amending the Company’s Articles of Incorporation to increase its authorized common stock from 50,000,000 shares to 2,000,000,000 shares, while retaining the par value of such common stock at $0.001 per share.  The Company expects that this amendment will become effective on or about August 23, 2010.

The Company has evaluated subsequent events through the date of this report and has determined that there were no additional subsequent events to recognize or disclose in these financial statements.

**Item 2. ** **Management’s Discussions and Analysis of Financial Condition and Results of Operations.**

**Forward-looking Statements**

Statements made in this Quarterly Report which are not purely historical are forward-looking statements with respect to the goals, plan objectives, intentions, expectations, financial condition, results of operations, future performance and our business, including, without limitation, (i) our ability to raise capital, and (ii) statements preceded by, followed by or that include the words “may,” “would,” “could,” “should,” “expects,” “projects,” “anticipates,” “believes,” “estimates,” “plans,” “intends,” “targets” or similar expressions.

Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond our control) that could cause actual results to differ materially from those set forth in the forward-looking statements, including the following, general economic or industry conditions, nationally and/or in the communities in which we may conduct business, changes in the interest rate environment, legislation or regulatory requirements, conditions of the securities markets, our ability to raise capital, changes in accounting principles, policies or guidelines, financial or political instability, acts of war or terrorism, other economic, competitive, governmental, regulatory and technical factors affecting our current or potential business and related matters.

Accordingly, results actually achieved may differ materially from expected results in these statements.  Forward-looking statements speak only as of the date they are made.  We do not undertake, and specifically disclaim, any obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of such statements.

**Results of Operation**

For The Three Months Ended June 30, 2010 Compared to The Three Months Ended June 30, 2009.

During the quarterly period ended June 30, 2010, we received total revenues of $51,850, a decrease of $9,939, or approximately 16%, over our total revenues of $61,789 in the quarterly period ended June 30, 2009.  Decreases are primarily due to the continued slow economy and decreasing demand for non-essential goods such as comics and collectibles.

Costs of goods sold during these periods were $33,065 and $37,283, respectively.  Cost of goods sold was approximately 64% and 60% of sales for 2010 and 2009, respectively.  The Company’s management feels this is in line with its expectations and expects some variation in overall gross margin period to period depending on the product mix sold during the period.  

Operating expenses decreased to $79,452 during the quarterly period ended June 30, 2010, from $646,988 in the year-ago period.  This decrease was due primarily to a decrease in general and administrative expenses from $246,257 in the June 30, 2009 period to $22,873 in the June 30, 2010 period, and a decrease in professional fees from $393,056 in the June 30, 2009 period to $40,240 in the June 30, 2010 period.  The Company has realized significant savings in its general operating expenses.  This decrease in both general and administrative expense and professional fees is primarily due to a reduction in stock based compensation expense during 2010 as compared to 2009.

Interest expense totaled $21,540 in the three months ended June 30, 2010, as compared to $5,882 in the prior year period.  For the three months ended June 30, 2010, our net loss was $25,947 or $0.01 per share as compared to a net loss of $628,240, or $0.07 per share during the June 30, 2009 period.

For The Nine Months Ended June 30, 2010 Compared to The Nine Months Ended June 30, 2009.

During the nine months ended June 30, 2010, we received total revenues of $178,212, a decrease of $41,567, or approximately 19%, over our total revenues of $219,779 in the nine months ended June 30, 2009.  Like many companies in today’s environment, sales have been negatively impacted due to slow consumer spending and poor 

economic conditions.

Costs of goods sold during these periods were $113,650 and $124,865, respectively. Cost of goods sold was approximately 64% and 57% of sales for the nine month periods ended June 30, 2010 and 2009, respectively.  The Company’s management feels this is in line with its expectations and expect some variation in overall gross margin period to period depending on the product mix sold during the period.  

Operating expenses decreased to $366,612 during the nine months ended June 30, 2010, from $962,137 in the year-ago period.  This decrease was due primarily to a decrease of approximately 10% in general and administrative expenses, from $287,174 to $257,332, from the 2009 period to the 2010 period.  We also had a decrease in professional fees from $653,776 in the nine months ended June 30, 2009, to $82,331 in the nine months ended June 30, 2010.  .  This decrease in both general and administrative expense and professional fees is primarily due to a reduction in stock based compensation expense during 2010 as compared to 2009.

Interest expense totaled $38,290 in the nine months ended June 30, 2010, as compared to $17,647 in the prior year period.  For the nine months ended June 30, 2010, our net loss was $284,072 or $0.02 per share as compared to a net loss of $884,409, or $0.10 per share during the June 30, 2009 period.

**Liquidity**

The Company had cash on hand of $27,233 at June 30, 2010. We believe that this cash on hand will not be sufficient to meet our expenses through the end of our 2010 fiscal year.  Beginning November 16, 2009, we initiated a private placement offering of up to $1 million.  As of the date of this Report, the Company has raised $25,000 under this arrangement, which was terminated on May 4, 2010.  On May 5, 2010, our Board of Directors adopted and ratified a Securities Purchase Agreement with Asher Enterprises, Inc., a Delaware corporation (“Asher”), by which Asher purchased an 8% convertible note in the aggregate principal amount of $50,000.  On June 4, 2010, we entered into a second Securities Purchase Agreement with Asher, by which Asher purchased an 8% convertible note in the aggregate principal amount of $25,000.  See the Company’s Current Reports on Form 8-K dated May 4, 2010; May 5, 2010; and June 4, 2010, which were filed with the Securities and Exchange Commission on May 6, 2010; May 10, 2010; and June 9, 2010, respectively.   We do not believe that the proceeds from the Asher convertible notes will be sufficient to enable us to complete the current fiscal year without additional borrowing or contributions from officers or principle shareholders of the Company to fund operations.  Our ability to achieve a level of profitable operations and/or additional financing may affect our ability to continue as a going concern.

**Item 3.  Quantitative and Qualitative Disclosures About Market Risk.**

Not required.

**Item 4.  Controls and Procedures.**

**Evaluation of disclosure controls and procedures**

Our management, with the participation of our chief executive officer and chief financial officer, evaluated the effectiveness of our disclosure controls and procedures as defined in Rule 13a-15(e) under the Exchange Act as of the end of the period covered by this Quarterly Report on Form 10-Q.  In designing and evaluating the disclosure controls and procedures, our management recognized that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives.  In addition, the design of disclosure controls and procedures must reflect the fact that there are resource constraints and that management is required to apply its judgment in evaluating the benefits of possible controls and procedures relative to their costs.  The design of any disclosure controls and procedures also is based in part upon certain assumptions about the likelihood of future events and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions.

Based on that evaluation, our chief executive officer and chief financial officer concluded that, as of June 30, 2010, 

our disclosure controls and procedures were not effective to provide reasonable assurance that information we are required to disclose in reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in Securities and Exchange Commission rules, regulations and forms, and that such information is accumulated and communicated to our management, including our chief executive officer and chief financial officer, as appropriate, to allow timely decisions regarding required disclosure. This material deficiency is due to a lack of adequate internal controls and the absence of an audit committee.

**Changes in internal control over financial reporting**

Our management, with the participation of our chief executive officer and our chief financial officer, has concluded that there were no significant changes in our internal controls over financial reporting that occurred during our last fiscal quarter that have materially affected, or are reasonably likely to affect, our internal control over financial reporting. 

**PART II - OTHER INFORMATION**

**Item 1. Legal Proceedings. **

None; not applicable.

**Item 1A.  Risk Factors.**

Not required.

**Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.**

On June 17, 2010 the Company issued 300,000 “unregistered” and “restricted” shares of common stock valued at $16,500 based on the market price of the shares, to Blue Future, Inc. for services.  These shares were issued in reliance on the exemption from registration provided by Section 4(2) of the Securities Act of 1933, as amended, and Rule 506 promulgated thereunder.

**Item 3. Defaults Upon Senior Securities.**

None; not applicable.

**Item 4. (Removed and Reserved).**

**Item 5. Other Information.**

None; not applicable.

**Item 6. Exhibits.**

**Exhibit No.  **                        **Identification of Exhibit**

 

 

 

 

31.1

  

31.2

  

32

Certification Pursuant to Section 302 of the Sarbanes-Oxley Act provided by Nicole Leigh, President and Director.

Certification Pursuant to Section 302 of the Sarbanes-Oxley Act provided by Robert B. Lees, Chief Financial Officer and Director.

Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 provided by Nicole Leigh, President and Robert B. Lees, Chief Financial Officer.

**SIGNATURES**

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

  

**ZALDIVA, INC.**

 

 

 

 

 

 

 

 

 

 

*Date:*

*August 13*,* 2010*

  

*By:*

*/s/Nicole Leigh*

  

  

  

  

*Nicole Leigh, President and Director*

 

 

 

 

 

 

 

 

 

 

*Date:*

*August 13, 2010*

  

*By:*

*/s/Robert B. Lees*

  

  

  

  

*Robert B. Lees, CFO, and Director*

 

 

 

 

 

 

 

 

 

 

*Date:*

*August 13, 2010*

  

*By:*

*/s/Jeremy I. Van Coller*

  

  

  

  

*Jeremy I. Van Coller, Director*

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