10-Q 1 g8353.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2016 Commission file number 333-140445 SNOOGOO CORP. (Exact Name of Registrant as Specified in Its Charter) NEVADA (State or other jurisdiction of incorporation or organization) 7825 N Calle Caballeros, Paradise Valley, AZ 85253 (Address of principal executive offices, including zip code) 800-234-3919 (Telephone number, including area code) Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 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 last 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 (ss.232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [X] No [ ] Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer, "accelerated filer," "non-accelerated filer," and "smaller reporting company" in Rule 12b-2 of the Exchange Act. 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 [X] NO [ ] State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: 190,314,701 shares outstanding as of January 6, 2017. ITEM 1. FINANCIAL STATEMENTS Snoogoo Corp Formerly Casey Container Corp. Balance Sheets (Unaudited)

The accompanying notes are an integral part of these interim financial statements. 2 Snoogoo Corp. Statements of Operations (Unaudited)

The accompanying notes are an integral part of these interim financial statements. 3 Snoogoo Corp. Statements of Cash Flows (Unaudited)

The accompanying notes are an integral part of these interim financial statements. 4 Snoogoo Corp. (formerly Casey Container Corp.) Notes to the Financial Statements March 31, 2016 (Unaudited) 1. DESCRIPTION OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES DESCRIPTION OF BUSINESS AND HISTORY - Snoogoo Corp. (formerly Sawadee Ventures Inc. and Casey Container Corp.), a Nevada corporation, was incorporated in the State of Nevada on September 26, 2006. The Company's yearend is December 31. The Company initially was formed to engage in the acquisition, exploration and development of natural resource properties of merit and from September 2008 to serve as a vehicle to acquire an operating business. Effective January 12, 2010, the Company's Certificate of Incorporation was changed and the name of the Company was changed to Casey Container Corp. ("Casey"). Casey's business plan was to design and manufacture biodegradable PET and other polymer plastic preforms for bottles and containers for the water, beverage and food industries via a non-binding supply and license agreement with Bio-Tec Environmental, LLC. On February 10, 2015, Casey Container Corp. filed a Certificate of Amendment to its Articles of Incorporation with the State of Nevada changing its name to Snoogoo Corp. and on February 11, 2015, entered into an Asset Purchase Agreement for the acquisition of a new social information network technology that it plans to use in order to launch web and mobile applications with broad global appeal. The Company ceased activity regarding its biodegradable business plans. BASIS OF PRESENTATION - In the opinion of management, the accompanying balance sheets and related interim statements of operations, cash flows include all adjustments, consisting only of normal recurring items, necessary for their fair presentation in conformity with accounting principles generally accepted in the United States of America ("U. S. GAAP"). Preparing financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses. Actual results and outcomes may differ from managements' estimates and assumptions. Interim results are not necessarily indicative of results for a full year. The information included in this March 31, 2016 Form 10-Q should be read in conjunction with information included in the December 31, 2015 Form 10-K. THE COMPANY TODAY The Company is currently a development stage company reporting under the provisions of Statement of Financial Accounting Standard ("FASB") No. 7, "Accounting and Reporting for Development Stage Enterprises." On February 10, 2015, Casey Container Corp. filed a Certificate of Amendment to its Articles of Incorporation with the State of Nevada changing its name to Snoogoo Corp. and on February 11, 2015, entered into an Asset Purchase Agreement for the acquisition of a new social information network technology that it plans to use in order to launch web and mobile applications with broad global appeal. In the same filing with the State of Nevada, the Company increased the number of authorized Common shares to 1,000,000,000 and Preferred shares remained at 10,000,000. The Company is considered a "shell" company inasmuch as it has no revenues, employees or material assets. USE OF ESTIMATES - The preparation of the 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 amount of revenue and expenses during the reporting period. Actual results could differ from those estimates. RECENT ACCOUNTING PRONOUNCEMENTS - The Company has evaluated all recent accounting pronouncements and believes that none will have a material effect on the Company. 5 Snoogoo Corp. (formerly Casey Container Corp.) Notes to the Financial Statements March 31, 2016 (Unaudited) 2. GOING CONCERN The Company incurred net losses of $6,219,281 for the period from September 26, 2006 (Date of Inception) through March 31, 2016 and has commenced limited operations, raising substantial doubt about the Company's ability to continue as a going concern. The Company plans to continue to sell its restricted Common shares for cash and borrow from its directors, officers, related and non-related parties, as well as reduce its cash expenses. The ability of the Company to continue as a going concern is dependent on receiving such equity capital funds for cash and the success of the Company's plan. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. 3. INTANGIBLES The Company expensed all of its accumulated Intangibles as of December 31, 2015. During the quarter ending March 31, 2016 and year-ended December 31, 2015, the Company incurred zero costs relating to its acquisition of its new social information network technology it plans to use to launch web and mobile applications with broad global appeal (see Notes 1 "Description of Business....." and 8 "Acquisition of Internet Search and Share Engine"). 4. STOCKHOLDERS' EQUITY At March 31, 2016 and December 31, 2015 the Company has 10,000,000 Preferred shares authorized with a par value of $0.001 per share and 1,000,000,000 Common shares authorized with a par value of $0.001 per share. At March 31, 2016 and December 31, 2015, the Company has 164,989,701 and 162,989,701 Common shares issued and outstanding respectively and no Preferred shares issued and outstanding. On January 6, 2015, the Company signed three Debt Settlement Agreements, whereby the Company issued twenty million Restricted Common shares to its Chairman, one million Restricted Common shares to a non-officer Director and five million Restricted Common shares to a vendor, at $0.01 per share in exchange for accounts payable and loans of $200,000, $10,000 and $50,000, respectively. The $0.01 per share was the closing price of the Company's freely-traded shares on the OTC.BB. On January 27, 2015, the Company signed a Debt Settlement Agreement with its CEO, President and CFO, whereby the Company issued 6.5 million Restricted Common shares at $0.02 per share in exchange for $195,000 of accounts payable owed. The closing price of the Company's freely-traded shares on the OTC.BB was $0.025 per share. On February 9, 2015, the Company sold for cash of $25,000 one million Restricted Common shares at $0.025 to a non-related party. The closing price of the Company's freely-traded shares on the OTC.BB was $0.05 per share. On February 10, 2015, the Company entered into four Consulting Agreements with non-related parties, issuing a total of 16 million shares for services at $0.05 per share. On February 10, 2015, the Company filed a Certificate of Amendment to its Articles of Incorporation with the State of Nevada increasing the number of its authorized Common Shares from 250,000 to 1,000,000,000. On February 11, 2015, the Company signed a Debt Settlement Agreement with its CEO, President and CFO, whereby the Company issued 6,668,000 Restricted Common shares at $0.05 per share in exchange for $200,040 of accounts payable owed. The closing price of the Company's freely-traded shares on the OTC.BB was $0.05 per share. 6 Snoogoo Corp. (formerly Casey Container Corp.) Notes to the Financial Statements March 31, 2016 (Unaudited) 4. STOCKHOLDERS' EQUITY (continued) On February 17, 2015, the Company signed Amendments to the Agreement to Serve on the Board of Directors with its two independent Directors, whereby the Company issued 4 million shares of restricted common shares, two million shares to each director, at $0.06 per share, the closing price of the Company's freely-traded shares. On February 1, 2016, the Company signed Consulting Agreements for Investor Relations and related services and issued 2 million shares of its Restricted Common Stock at $0.004 per share, the closing price of the Company's freely-traded shares on the OTC.BB. 5. RELATED PARTY TRANSACTIONS As of March 31, 2016 and December 31, 2015, $165,612 and $95,859 respectively was due to the Company's officers and Directors for unpaid expenses, fees and loans. On January 6, 2015, the Chairman and a Company the Chairman is not a non-controlling owner, signed a Debt Settlement Agreement, converting loans of $4,850 and $28,950, respectively, into 3,380,000 Restricted Common Shares at $0.01 per share, the closing price of the freely-traded shares on the OTC.BB. Amounts outstanding to Related Parties, at March 31, 2016 and December 31, 2015, respectively, are unsecured: March 31, December 31, 2016 2015 -------- -------- Unpaid expenses and fees to Officers/Directors $165,612 $ 95,859 Non-interest bearing loans to Related Parties Chairman of the Board/Officer -- -- -------- -------- Total $ -- $ -- ======== ======== 6. NON-INTEREST BEARING LOANS On January 28, 2011 and February 3, 2012, Auspice Capital, a non-related party (formerly a related party), loaned the Company a total of $27,000 in non-interest bearing loans of which $22,000 is outstanding as of March 31, 2016 and December 31, 2015. The amounts of all non-interest bearing loans outstanding at March 31, 2016 and December 31, 2015, respectively, are as follows: March 31, December 31, 2016 2015 -------- -------- Total Non-interest bearing loans to a Non-Related Party Non-Officer/Director $ 22,000 $ 22,000 ======== ======== 7 Snoogoo Corp. (formerly Casey Container Corp.) Notes to the Financial Statements March 31, 2016 (Unaudited) 7. INTEREST BEARING LOANS On August 12 and 19, 2011, a nonrelated party loaned the Company $15,000 in an interest-bearing Promissory Note, at 8% per annum and a one-time financing fee of $9,900. The loan, one-time financing fee and unpaid accrued interest is due upon the Company's receipt of the first funding of equity capital from an investor group. On November 16, 2014, the loan was assigned to a Company that the Chairman is a non-controlling shareholder. On January 6, 2015, the loan and accrued interest was exchanged for 2,894,954 Restricted Common shares at $0.01 per share (see Note 4 "Stockholders' Equity" - January 6, 2015 transaction). On August 27, 2012, the Company borrowed $40,000 in a ninety day non-interest bearing Promissory Note and a one-time financing fee of $10,000 from a non-related party. The one-time financing fee was expensed in the quarter ending September 30, 2012. If the $50,000 was not paid within ninety days of the date of the Promissory Note, interest at the rate of 10% per annum would begin accruing until full payment is made. On January 31, 2013, the Company renewed the original Promissory Note, extending the maturity date to April 30, 2013 and on June 22, 2013, the maturity date was extended to December 31, 2013. The accrued interest as of December 31, 2012 was reversed in the quarter ending March 31, 2013. The loan is unsecured. The amounts of all interest-bearing loans and accrued interest outstanding as of March 31, 2016 and December 31, 2015, respectively, follow: March 31, December 31, 2016 2015 -------- -------- Related Party - principal $ -- $ 33,800 cumulative accrued interest -- -- Non-Related Party - principal 50,000 50,000 cumulative accrued interest 11,096 9,863 -------- -------- Total $ 61,096 $ 59,863 ======== ======== 8. AQUISITION OF INTERNET SEARCH AND SHARE ENGINE On January 13, 2015, the Company signed a Letter Of Understanding ("LOU") to acquire a new proprietary social information network technology that it planned to use in order to launch web and mobile applications with broad global appeal. The Company indicated it planned on using the proprietary technology as the backbone of a new leading information network (see February 5, 2015 Form 8-K filed with the SEC). On February 11, 2015, the Company signed an Asset Purchase Agreement to acquire certain intellectual property of the above referenced internet search and share engine. The agreed consideration of $4 million is to be paid at the rate of 10% of all future advertising revenue collected from the re-branded search and share website as operated by the Seller. 8 Snoogoo Corp. (formerly Casey Container Corp.) Notes to the Financial Statements March 31, 2016 (Unaudited) 9. SUBSEQUENT EVENTS On May 25, 2016, the Board Of Directors approved the issuance of up to 20,000,000 Restricted Common shares at $0.01 per share ($200,000) plus participation in a Revenue Sharing Agreement of $0.02 for each $1.00 of advertising revenue the Company receives for a period of thirty-six months after the effective date as defined in the Revenue Sharing Agreement. The payment of the Revenue Sharing is earned on a pro-rata basis, based on the proportion each investor makes towards the $200,000 total investment. Based on the full $200,000 being received from investors, if an investor invests $20,000 (10% of the $200,000 total investment), such investor would receive 10% of $0.02 ($0.002) for each dollar of advertising revenue the Company receives over the thirty-six months period. The following six (6) investments have been received by the Company pursuant to the Investment and Revenue Sharing Agreement Document: On July 26, 2016, the Company received an investment of $37,500 and issued 3,750,000 Restricted Common shares at $0.01 per share. The certificate was issued on August 30, 2016. On August 5, 2016, the Company received two investments - one for $15,000 and one for $36,000 and issued 1,500,000 and 3,600,000 Restricted Common shares respectively at $0.01 per share. On September 5, 2016, the Company received an investment of $3,750 and issued 375,000 Restricted Common shares at $0.01 per share on September 9, 2016. On September 20, 2016, the Company received an investment of $20,000 and issued 2,000,000 Restricted Common shares at $0.01 per share. The Certificate was issued on October 19, 2016. On September 28, 2016, the Company received an investment of $10,000 and issued 1,000,000 Restricted Common shares at $0.01 per share. The Certificate was issued on October 19, 2016. On November 4 and December 6, the Company received a total investment of $17,000 and issued 1,700,000 Restricted Common shares at $0.01 per share. The Certificate was issued on December 28, 2016. DEBT SETTLEMENT AGREEMENTS WITH NON-RELATED PARTIES: On August 31, 2016, the Company signed a Debt Settlement Agreement with a non-related party issuing 2,000,000 Restricted Common shares at $0.01 per share on September 6, 2016, in exchange for $20,000 of payables owed to the recipient. On August 31, 2016, the Company signed a Debt Settlement Agreement with a non-related party issuing 3,000,000 Restricted Common shares at $0.01 per share on September 6, 2016, in exchange for $30,000 of payables owed to the recipient. On September 1, 2016, the Company signed a Consulting Agreement and issued 4,000,000 Restricted Common shares at $0.01 per share on September 6, 2016. On September 6, 2016, the Company signed a Debt Settlement Agreement with a non-related party issuing 2,400,000 Restricted Common shares at $0.01 per share. The certificate was issued on October 19, 2016. 9 ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION FORWARD LOOKING STATEMENTS Some of the statements contained in this Form 10-Q that are not historical facts are "forward-looking statements" which can be identified by the use of terminology such as "estimates," "projects," "plans," "believes," "expects," "anticipates," "intends," or the negative or other variations, or by discussions of strategy that involve risks and uncertainties. We urge you to be cautious of the forward-looking statements, that such statements, which are contained in this Form 10-Q, reflect our current beliefs with respect to future events and involve known and unknown risks, uncertainties and other factors affecting our operations, market growth, services, products and licenses. No assurances can be given regarding the achievement of future results, as actual results may differ materially as a result of the risks we face, and actual events may differ from the assumptions underlying the statements that have been made regarding anticipated events. All written forward-looking statements made in connection with this Form 10-Q that are attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. Given the uncertainties that surround such statements, you are cautioned not to place undue reliance on such forward-looking statements. The safe harbours of forward-looking statements provided by the Securities Litigation Reform Act of 1995 are unavailable to issuers not subject to the reporting requirements set forth under Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended. As we have not registered our securities pursuant to Section 12 of the Exchange Act, such safe harbours set forth under the Reform Act are unavailable to us. RESULTS OF OPERATIONS Snoogoo Corp., a Nevada corporation, was incorporated under the name Sawadee Ventures Inc. in the State of Nevada on September 26, 2006. The Company was formed to engage in the acquisition, exploration and development of natural resource properties of merit. In November of 2009 we entered into an Additive Supply and License Agreement with Bio-Tec Environmental, developer of the breakthrough EcoPure(R) technology. At the beginning of 2015 the Company ended its agreement with Bio-Tech Environmental to seek other opportunities. On February 11, 2015, the Company completed an Asset Purchase Agreement to acquire certain intellectual property associated with a proprietary social network technology. Casey Container can design and custom manufacture biodegradable PET plastic preforms that become PET plastic containers, such as bottles for water or other beverage products. The Company is committed to developing container products that meet the demands of its clients while addressing today's most fundamental environmental issues concerning the proliferation of plastics. The Company offers biodegradable plastic packaging solutions using the breakthrough science of EcoPure(R) technology. In short, the Company provides environmentally responsible plastic packaging solutions to assist its clients in obtaining a competitive advantage in the marketplace. Working with Bio-Tec Environmental, developer of the breakthrough EcoPure(R) technology, the Company now has the unique ability to offer a revolutionary biodegradable PET plastic packaging solution that is FDA compliant. We are still in our development stage and have generated no revenue to date. We incurred operating expenses of $104,977 and $519,665 for the three-month periods ended March 31, 2016 and 2015, respectively. These expenses consisted primarily of general and administrative expenses. The operating expenses for the three month period ending March 31, 2016 is much less compared to the same three 10 month ending March 31, 2015 primarily due to much lower stock issuances for consulting services. Interest expense was $1,232 and $1,232 for the comparable Three-month periods ended March 31, 2016 and 2015. At March 31, 2016 and December 31, 2015, we had cash on hand of $80 and $80 respectively. Our total assets at March 31, 2016 and December 31, 2015 are $5,413 and $80. Our liabilities were $574,138 and $470,595, respectively. As of March 31, 2016, we had an accumulated deficit from inception of $6,219,281. The following table provides selected financial data about our company for the period from the date of incorporation through March 31, 2016. Balance Sheet Data: 3/31/16 ------------------- --------- Cash $ 80 Total assets $ 5,413 Total liabilities $ 574,138 Shareholders' equity $(568,725) Our auditors have expressed their doubt about our ability to continue as a going concern unless we are able to raise additional equity cash and/or loans and generate profitable operations. LIQUIDITY AND CAPITAL RESOURCES We currently have $80 cash on hand. We don't believe we can meet our cash needs for the next twelve months without additional loans and/or equity infusions. PLAN OF OPERATION Snoogoo Corp., a Nevada corporation, was incorporated under the name Sawadee Ventures Inc. in the State of Nevada on September 26, 2006. The Company was formed to engage in the acquisition, exploration and development of natural resource properties of merit. In November of 2009 we changed direction and entered into an Additive Supply and License Agreement with Bio-Tec Environmental, developer of the breakthrough EcoPure(R) technology. The Agreement has an effective date of January 1, 2010. At the beginning of 2015 the Company ended its agreement with Bio-Tech Environmental to seek other opportunities. On February 11, 2015, we completed an Asset Purchase Agreement to acquire certain intellectual property associated with a proprietary social network technology. We intend to use the technology to launch certain web and mobile applications targeting the online search and share community. As consideration, we have agreed to pay the seller 10% of all future advertising revenue, up to a maximum of $4 million, collected from its search and share website. We have not generated any income since inception, and for the three months ended March 31, 2016 and 2015 we incurred a net loss of $106,210 and $520,897, respectively. We are currently focusing on generating revenue by implementing three phases of our strategy. First, we plan to raise capital to further develop our technology and provide working capital. Second, we plan to increase our customer base. Third, we intend to leverage our assets to expand our business model through the acquisitions of related businesses. 11 OFF-BALANCE SHEET ARRANGEMENTS We have no off-balance sheet arrangements. ITEM 4. CONTROLS AND PROCEDURES EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES Under the supervision and with the participation of our management, including our principal executive officer and the principal financial officer, we have conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities and Exchange Act of 1934, as of the end of the period covered by this report. Based on this evaluation, our principal executive officer and principal financial officer concluded as of the evaluation date that our disclosure controls and procedures are not effective due to management override of controls and lack of segregation of duties due to our size. However, we did conclude that the material information required to be included in our Securities and Exchange Commission reports is accumulated and communicated to our management, including our principal executive officer and principal financial officer, recorded, processed, summarized and reported within the time periods specified in Securities and Exchange Commission rules and forms relating to our company, particularly during the period when this report was being prepared. CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING. There was no change in our internal control over financial reporting identified in connection with the evaluation required by Rule 13a-15(d) and 15d-15(d) of the Exchange Act that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting. PART II. OTHER INFORMATION ITEM 6. EXHIBITS

12 SIGNATURES In accordance with the requirements of the Securities Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, on January 25, 2017. SNOOGOO CORP. /s/ Martin R Nason ---------------------------------- Martin R Nason, Principal Financial Officer and Principal Accounting Officer 13

Snoogoo Corp. 10-Q