-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MX494KaOLeCEiNTkfvQ1TxgaI8w3Io95kOOkddB8bMFKJ1+Q/rtewyOBZVEcE+WR lwxcE1I9YkXigMFoNKJCVg== 0001014897-06-000088.txt : 20061109 0001014897-06-000088.hdr.sgml : 20061109 20061109113441 ACCESSION NUMBER: 0001014897-06-000088 CONFORMED SUBMISSION TYPE: 10QSB PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20060930 FILED AS OF DATE: 20061109 DATE AS OF CHANGE: 20061109 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Creative Beauty Supply of New Jersey CORP CENTRAL INDEX KEY: 0001290658 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-DRUGS PROPRIETARIES & DRUGGISTS' SUNDRIES [5122] IRS NUMBER: 000000000 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10QSB SEC ACT: 1934 Act SEC FILE NUMBER: 000-50773 FILM NUMBER: 061200216 BUSINESS ADDRESS: STREET 1: 380 TOTOWA ROAD CITY: TOTOWA STATE: NJ ZIP: 07512 BUSINESS PHONE: 973-904-0004 MAIL ADDRESS: STREET 1: 380 TOTOWA ROAD CITY: TOTOWA STATE: NJ ZIP: 07512 10QSB 1 creative10q3q06final.txt FORM 10QSB FOR SEPTEMBER 30, 2006 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-QSB [x] Quarterly Report Pursuant to Section 13 or 15(d) Securities Exchange Act of 1934 for Quarterly Period Ended September 30, 2006 - -OR- [ ] Transition Report Pursuant to Section 13 or 15(d) of the Securities And Exchange Act of 1934 for the transaction period from _________ to________ Commission File Number 0-50773 Creative Beauty Supply of New Jersey Corporation (Exact name of Small Business Issuer in its charter) New Jersey 56-2415252 (State or other jurisdiction (I.R.S. Employer of incorporation or organization) Identification number) 380 Totowa Road Totowa, NJ 07512 (Address of principal executive offices) (Zip Code) Registrant's Telephone number, including area code: (973) 904-0004 Check whether the issuer (1) 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 [ ] The number of outstanding shares of the registrant's common stock, September 30, 2006: Common Stock - 10,532,150 2 PART I Item I ? FINANCIAL STATEMENTS CREATIVE BEAUTY SUPPLY OF NEW JERSEY CORPORATION BALANCE SHEETS
SEPTEMBER 30, DECEMBER 31, 2006 2005 ------------- ------------ (UNAUDITED) (AUDITED) ASSETS CURRENT ASSETS: Cash and cash equivalents $ 294,493 $ 358,420 Marketable securities 100,000 5,000 Accounts receivable 1,436 1,090 Inventory 57,648 60,299 Prepaid expenses 2,811 570 ------------ ------------ TOTAL CURRENT ASSETS 456,388 425,379 PROPERTY AND EQUIPMENT , net of accumulated Depreciation 2,924 3,899 ------------ ------------ TOTAL ASSETS $ 459,312 $ 429,278 ============ ============ LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable ? trade $ 12,219 $ 12,671 Payroll taxes payable 4,012 3,031 Accrued expenses 12,460 10,244 Deferred taxes 39,425 - ------------ ------------ TOTAL CURRENT LIABILITIES 68,116 25,946 ------------ ------------ STOCKHOLDERS' EQUITY Preferred stock, par value $.001, authorized 10,000,000 shares, issued and outstanding -0- shares - - Common stock, par value $.001, authorized 100,000,000 shares, issued and outstanding 10,532,150 shares 10,532 10,532 Additional paid-in-capital 776,108 776,109 Accumulated deficit (451,019) (383,309) Accumulated other comprehensive income 55,575 - ------------ ------------ TOTAL STOCKHOLDERS' EQUITY 391,196 403,332 ------------ ------------ TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 459,312 $ 429,278 ============ ============
The accompanying notes are an integral part of these financial statements 3 CREATIVE BEAUTY SUPPLY OF NEW JERSEY CORPORATION STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2006 AND 2005 (UNAUDITED) Three Months Ended September 30, -------------------------------- 2006 2005 ---- ---- Net Sales $ 31,945 $ 33,974 Cost of Sales 23,135 26,670 ----------- ----------- Gross Profit 8,810 7,304 ----------- ----------- Operating Expenses Salaries ? officers 7,890 7,800 Employee benefits 4,502 4,033 Professional fees 11,123 17,899 Rent 4,050 4,050 Other general and administrative 6,419 6,949 ----------- ----------- Total Operating Expenses 33,984 40,731 ----------- ----------- Loss from operations (25,174) (33,427) ----------- ----------- Other income (expense) Loss on marketable securities - - Interest income 3,006 784 ----------- ----------- Total other income (expense) 3,006 784 ----------- ----------- Net Loss (22,168) (32,643) Other Comprehensive Income, net of taxes: Reclassification adjustment, net of income taxes of $-0-, $-0-, &-0-, and $-0-. - - Unrealized gain on securities held for sale net of income taxes of $39,425, $-0-, $39,425 and $-0- 55,575 - ----------- ----------- Total Comprehensive Income (Loss) $ 33,407 $ (32,643) =========== ============ Earning (loss) per share: Basic and diluted net loss per common share $ (0.00) $ (0.01) =========== =========== Basic and diluted weighted average common shares outstanding 10,532,150 3,494,650 =========== ===========
The accompanying notes are an integral part of these financial statements 4 CREATIVE BEAUTY SUPPLY OF NEW JERSEY CORPORATION STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2006 AND 2005 (UNAUDITED)
Nine Months Ended September 30, -------------------------------- 2006 2005 ---- ---- Net Sales $ 102,068 $ 100,237 Cost of Sales 73,918 78,686 ----------- ------------ Gross Profit 28,150 21,551 ----------- ------------ Operating Expenses Salaries ? officers 23,750 23,850 Employee benefits 12,549 10,531 Professional fees 37,437 52,639 Rent 12,150 12,150 Other general and administrative 18,093 18,915 ----------- ------------ Total Operating Expenses 103,979 118,085 ----------- ------------ Loss from operations (75,829) (96,534) ----------- ------------ Other income (expense) Loss on marketable securities - (200,000) Interest income 8,119 2,545 ----------- ----------- Total other income (expense) 8,119 (197,455) ----------- ----------- Net Loss (67,710) (293,989) Other Comprehensive Income, net of taxes: Reclassification adjustment, net of income taxes of $-0-, $-0-, &-0-, and $-0-. - 138,000 Unrealized gain on securities held for sale net of income taxes of $39,425, $-0-, $39,425 and $-0- 55,575 - ----------- ----------- Total Comprehensive Income (Loss) $ (12,135) $ (155,989) =========== ============ Earning (loss) per share: Basic and diluted net loss per common share $ (0.01) $ (0.08) =========== =========== Basic and diluted weighted average common shares outstanding 10,532,150 3,494,650 =========== ===========
The accompanying notes are an integral part of these financial statements 5 CREATIVE BEAUTY SUPPLY OF NEW JERSEY CORPORATION STATEMENTS OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2006 AND 2005 (UNAUDITED) 2006 2005 ---- ---- Cash Flows from Operating Activities: Cash received from customers $ 101,722 $ 100,633 Cash paid to suppliers and employees (173,768) (174,581) Interest received 8,119 2,545 Income taxes paid - - Interest paid - - ----------- ----------- Net cash used in operating activities (63,927) (71,403) ----------- ----------- Cash Flows from Investing Activities: Investment in marketable securities - - ----------- ----------- Cash Flows from Financing Activities: - - ----------- ----------- NET DECREASE IN CASH AND CASH EQUIVALENTS (63,927) (71,403) CASH AND CASH EQUIVALENTS - beginning of period 358,420 213,341 ----------- ----------- CASH AND CASH EQUIVALENTS - end of period $ 294,493 $ 141,938 =========== =========== RECONCILIATION OF NET LOSS TO NET CASH USED IN OPERATIONS: Net loss $ (67,710) $ (293,989) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation 975 975 Loss on marketable securities - 200,000 (Increase) decrease in accounts receivable (346) 396 Decrease (increase) in inventory 2,651 (1,027) (Increase) in prepaid expenses (2,241) (2,512) Increase in accounts payable and accrued expenses 2,744 24,754 ---------- ----------- Net cash used in operating activities $ (63,927) $ (71,403) ========== ===========
The accompanying notes are an integral part of these financial statements 6 CREATIVE BEAUTY SUPPLY OF NEW JERSEY CORPORATION NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2006 1. THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The Company Creative Beauty Supply of New Jersey Corporation (the "Company ") was incorporated in the State of New Jersey on October 1, 2003. It was formed pursuant to a resolution of the board of directors of Creative Beauty Supply, Inc., (CBS") as a wholly-owned subsidiary of that company, a publicly traded New Jersey corporation. On January 1, 2004, the assets and liabilities of CBS were contributed at book value to the Company, and this subsidiary was then spun-off by CBS to its stockholders. This spin-off was done in contemplation of a merger, which occurred on March 14, 2004 between CBS and Global Digital Solutions, Inc. (Global), a Delaware corporation, whereby the former stockholders of CBS became the owners of 100 percent of the common stock of the company. On January 1, 2004, the Company commenced operations in the beauty supply industry at both the wholesale and retail levels. The company sells cosmetic and beauty supplies to the general public and beauty salons in northern and central New Jersey. Interim Financial Statement Presentation The Company has a calendar reporting year of December 31, 2005 of which the balance sheet data was derived from audited financial statements but does not include all disclosures required by generally accepted accounting principles. In the opinion of management, the accompanying unaudited financial statements contain all normal and recurring adjustments necessary to present fairly the financial position of the Company as of September 30, 2006, its results of operations for the nine months ended September 30, 2006 and 2005 and its cash flows for the nine months ended September 30, 2006 and 2005. The statements of operations for the nine months ended September 30, 2006 and 2005 are not necessarily indicative of the results for the full year. While the Company believes that the disclosures presented are adequate to make the information not misleading, these financial statements should be read in conjunction with the financial statements and accompanying notes included in the Company's Annual Report on Form 10KSB for the year ended December 31, 2005. Investments in Available-For-Sale Securities The Company considers its investments in equity securities as available- for-sale and has therefore reflected the investment at fair value in the accompanying financial statements. Realized gains and losses are recorded in earnings (loss). Changes in unrealized gains or losses are 7 CREATIVE BEAUTY SUPPLY OF NEW JERSEY CORPORATION NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2006 excluded from earnings (loss) reported as a component of other comprehensive income (loss) in the stockholders' equity section of the balance sheet. Inventory Inventory consists of finished goods. The company, for interim reporting, calculates its inventory using the gross profit of the immediate previous calendar year. Earning (Loss) Per Share The Company computes earnings or loss per share in accordance with Statement of Financial Accounting Standards No. 128 (SFAS 128), "Earning Per Share". Basic earnings per share is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding. Diluted earnings per share reflects the potential dilution that could occur if securities or other agreements to issue common stock were exercised or converted into common stock. Diluted earnings per share is computed based upon the weighted average number of common shares and dilutive common equivalent shares outstanding, which includes convertible debentures, stock options and warrants. Comprehensive Income The Company reports components of comprehensive income (loss) under the requirements of SFAS 130, "Reporting Comprehensive Income". SFAS 130 establishes rules for the reporting of comprehensive income or loss and its components which require that certain items be presented as separate components of stockholders' equity. For the periods presented, the Company's other comprehensive income consist solely of unrealized gains from marketable securities available for sale. 2. MARKETABLE SECURITIES The cost and fair value of marketable equity securities that are available-for-sale are as follows at September 30, 2006 and December 31, 2005: September 30, December 31, 2006 2005 ------------- ------------ (Unaudited) (Audited) Cost $ 5,000 $ 5,000 Gross unrealized gain 95,000 - ---------- ---------- Fair value $ 100,000 $ 5,000 ========== ========== 8 CREATIVE BEAUTY SUPPLY OF NEW JERSEY CORPORATION NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2006 The Company's marketable securities consist of subscriptions for 100,000 shares of common stock of Proguard Acquisition Corp., a company trading on the Over The Counter Bulletin Board. The Company has entered into an agreement with an unrelated third party for the sale of these subscriptions at a price of $1.00 per share for a total of $100,000. At June 30, 2005, management determined that the Company's investment in RAM Venture Holding Corp. was worthless. A loss of $200,000 was recorded on the statement of operations as loss on marketable securities. 3. SALES Wholesale sales consist of sales to beauty salons of merchandise for resale. Sales of merchandise to beauty salons for their own consumption and not for resale are considered retail sales. All sales to the general public are also considered retail sales. Net sales are summarized as follows: Nine Months Ended September 30, -------------------- 2006 2005 Retail $ 58,264 $ 63,486 Wholesale 43,804 36,751 ----------- ----------- $ 102,068 $ 100,237 =========== =========== Three Months Ended September 30, --------------------- 2006 2005 Retail $ 19,684 $ 21,143 Wholesale 12,261 12,831 ---------- ---------- $ 31,945 $ 33,974 ========== ========== 4. SUPPLIER CONCENTRATION For the nine months ended September 30, 2006 and 2005, the Company purchased approximately 58% and 46%, respectively, of its products from one supplier. Management believes that other suppliers could provide similar products on comparable terms. A change in suppliers, however, could cause a delay in merchandise and possible loss of sales which could affect operating results. 9 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Trends and Uncertainties. Demand for Creative NJ?s products will be dependent on, among other things, market acceptance of Creative NJ?s concept and general economic conditions, which are cyclical in nature. Inasmuch as all of Creative NJ?s activities are the receipt of revenues from the sales of its products, Creative NJ?s business operations may be adversely affected by Creative NJ?s competitors. Capital and Source of Liquidity. Creative NJ had cash and cash equivalents of $294,493 at September 30, 2006, a decrease of $63,927 from the cash and cash equivalents balance of $358,420 at December 31, 2005. Cash used in operating activities totaled $63,927. The primary reason for the decrease was the loss for the period. For the nine months ended September 30, 2006 and 2005, Creative NJ did not have net cash flows from investing and financing activities. The Company's marketable securities consist of subscriptions for 100,000 shares of common stock of Proguard Acquisition Corp., a company trading on the Over The Counter Bulletin Board. The Company has entered into an agreement with an unrelated third party for the sale of these subscriptions at a price of $1.00 per share for a total of $100,000. Results of Operations. Creative NJ sells approximately 1,000 different products at varying mark ups ranging from 20 to 40 percent. Nine Months Ended September 30, 2006 and 2005 For the nine months ended September 30, 2006, Creative NJ had net sales of $102,068 consisting of $58,264 retail and $43,804 wholesale. Cost of sales amounted to $73,918 resulting in gross profit of $28,150. For the nine months ended September 30, 2006, Creative NJ had operating expenses of $103,979. Some of these expenses consisted of those necessary to conduct our business. We paid $37,437 for professional fees necessary to become and remain a reporting company. For the nine months ended September 30, 2005, Creative NJ had net sales of $100,237 consisting of $63,486 retail and $36,751 wholesale. Cost of sales amounted to $78,686 resulting in gross profit of $21,551. For the nine months ended September 30, 2005, Creative NJ had operating expenses of $118,085. Some of these expenses consisted of those necessary to conduct our business. We paid $52,639 for professional fees necessary to become and remain a reporting company. 10 Three Months Ended September 30, 2006 and 2005 For the three months ended September 30, 2006, Creative NJ had net sales of $31,945 consisting of $19,684 retail and $12,261 wholesale. Cost of sales amounted to $23,135 resulting in gross profit of $8,810. For the three months ended September 30, 2006, Creative NJ had operating expenses of $33,984. Some of these expenses consisted of those necessary to conduct our business. We paid $11,123 for professional fees necessary to become and remain a reporting company. For the three months ended September 30, 2005, Creative NJ had net sales of $33,974 consisting of $21,143 retail and $12,831 wholesale. Cost of sales amounted to $26,670 resulting in gross profit of $7,304. For the three months ended September 30, 2005, Creative NJ had operating expenses of $40,731. Some of these expenses consisted of those necessary to conduct our business. We paid $17,899 for professional fees necessary to become and remain a reporting company. Plan of Operation. During the next twelve months, Creative NJ may obtain new product lines by negotiating with various manufacturers. Creative NJ does not intend to hire any additional employees. To date, no product lines have been identified and no timeframes established or cash needs defined. Creative NJ is not delinquent on any of its obligations even though Creative NJ has had limited operating revenues. Creative NJ intends to market its products utilizing cash made available from the sale of its products. Creative NJ is of the opinion that revenues from the sales of its products will be sufficient to pay its expenses. Creative NJ does not have nor does it intend to have pension and/or other post-retirement benefits in the future. Creative NJ does not have any or intends to have any derivative instruments or hedging activities. Critical Accounting Policies The preparation of financial statements and related disclosures in conformity with accounting principles generally accepted in the United States of America requires management to make judgments, assumptions and estimates that affect the amounts reported in Creative NJ's financial statements and the accompanying notes. The amounts of assets and liabilities reported in our balance sheets and the amounts of revenues and expenses reported for each of our fiscal periods are affected by estimates and assumptions which are used for, but not 11 limited to, the accounting for allowance for doubtful accounts, fair market values of marketable securities, asset impairments, inventory and income taxes. Actual results could differ from these estimates. The following critical accounting policies are significantly affected by judgments, assumptions and estimates used in the preparation of the financial statements. Revenue is recognized when earned in accordance with applicable accounting standards. Net sales are recognized at the time products are shipped to customers. Over-the-counter sales are recorded at point of sale. Creative NJ has elected to classify all of its investments in equity securities as available-for-sale and report them at fair value. Realized gains and losses are recorded in earnings (loss) and changes in the unrealized gain or loss is excluded from earnings (loss) and reported as a component of other comprehensive income (loss). Creative NJ's inventory consists of finished goods. For interim reporting purposes, Creative NJ calculates its inventory value using the gross profit method of the immediate previous calendar year. Forward-Looking Statements This Form 10-QSB contains forward-looking statements within the meaning of the federal securities laws. These statements include those concerning the following: Our intentions, beliefs and expectations regarding the fair value of all assets and liabilities recorded; our strategies; growth opportunities; product development and introduction relating to new and existing products; the enterprise market and related opportunities; competition and competitive advantages and disadvantages; industry standards and compatibility of our products; relationships with our employees; our facilities, operating lease and our ability to secure additional space; cash dividends; excess inventory, our expenses; interest and other income; our beliefs and expectations about our future success and results; our operating results; our belief that our cash and cash equivalents will be sufficient to satisfy our anticipated cash requirements; our expectations regarding our revenues and customers; investments and interest rates. These statements are subject to risk and uncertainties that could cause actual results and events to differ materially. Creative NJ undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this Form 10-QSB. 12 Item 3. Controls and Procedures. Evaluation of Disclosure Controls and Procedures Carmine Catizone, the chief executive officer and Daniel Generelli, the chief financial officer of Creative NJ have made an evaluation of the disclosure controls and procedures relating to the financial statements of Creative NJ for the nine months ended September 30, 2006 and have judged such controls and procedures to be effective as of September 30, 2006(the evaluation date). Changes in Internal Controls There have been no significant changes (including corrective actions with regard to significant deficiencies or material weaknesses) in our internal controls or in other factors that could significantly affect these controls subsequent to the Evaluation Date set forth above. 13 PART II - OTHER INFORMATION Item 1. Legal Proceedings. not applicable. Item 2. Changes in Securities and Use of Proceeds. not applicable. Item 3. Defaults Upon Senior Securities. not applicable. Item 4. Submission of Matters to a Vote of Security Holders. not applicable. Item 5. Other Information. not applicable. Item 6. Exhibits and Reports on Form 8-K. (a) Reports on Form 8-K. (b) Exhibits. Exhibit 31 - Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 Exhibit 32 - Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized. Dated: November 9, 2006 CREATIVE BEAUTY SUPPLY OF NEW JERSEY CORPORATION By: /s/ Carmine Catizone - --------------------------- Carmine Catizone, President and Director
EX-31 2 creativenj10q3q06ex31.txt 302 CERTIFICATION 302 CERTIFICATION I, Carmine Catizone, certify that: 1. I have reviewed the amendment to the quarterly report on Form 10-QSB of Creative Beauty Supply of New Jersey Corporation; 2. Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; 4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 12a-14) and internal controls over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: a) designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared; b) evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this quarterly report (the "Evaluation Date"); and c) presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date; 5. The registrant's other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent functions): a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls over financial reporting. Date: November 9, 2006 /s/Carmine Catizone ---------------------------- Carmine Catizone President & Chief Executive Officer 302 CERTIFICATION I, Daniel Generelli, certify that: 1. I have reviewed the amendment to the quarterly report on Form 10-QSB of Creative Beauty Supply of New Jersey Corporation; 2. Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; 4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 12a-14) and internal controls over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: a) designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared; b) evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this quarterly report (the "Evaluation Date"); and c) presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date; 5. The registrant's other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent functions): a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls over financial reporting. Date: November 9, 2006 /s/Daniel Generelli ---------------------------- Daniel Generelli, CFO EX-32 3 creativenj10q3q06ex32.txt 906 CERTIFICATION CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 In connection with the Quarterly Report of Creative Supply of New Jersey Corporation (the "Company") on Form 10-QSB for the nine months ending September 30, 2006 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Carmine Catizone, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that: (1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and (2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company. /s/Carmine Catizone - ----------------------------- Carmine Catizone Chief Executive Officer November 9, 2006 CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 In connection with the Quarterly Report of Creative Supply of New Jersey Corporation (the "Company") on Form 10-QSB for the nine months ending September 30, 2006 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Daniel Generelli, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that: (1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and (2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company. /s/Daniel Generelli - ----------------------------- Daniel Generelli Chief Financial Officer November 9, 2006
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