[X]
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QUARTERLY
REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
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For
the quarterly period ended March 31, 2003
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[
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TRANSITION
REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
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Nevada
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1-11883
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95-3811580
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(State
or other jurisdiction
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(Commission
File Number)
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(IRS
Employer
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of
Incorporation)
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Identification
Number)
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50
Old Route 25A
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Fort
Salonga, NY 11768
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(Address
of principal executive offices)
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(646)
383-4832
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(Issuer’s
Telephone Number)
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AMT
Group, Inc., fka EMB Corp.
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Page
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||||
Balance
Sheet at March 31, 2003 and September 30, 2002
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F-2
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Statement
of Operations for the six months ended March 31, 2003, for the six
months
ended March 31, 2002 and for the year ended September 30,
2002
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F-3
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Statement
of Changes in Shareholders' Deficit for the period from September
30, 2001
through September30, 2002 and for the six months ended March 31,
2003
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F-4
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Statements
of Cash Flows for the six months ended March 31, 2003 and for the
six
months ended March 31, 2002 and for the year ended September 30,
2002
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F-5
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Notes
to Financial Statements
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F-6
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AMT
Group, Inc., fka EMB Corp.
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||||||
BALANCE
SHEET
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||||||
March
31, 2003
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March
31, 2003
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September
30, 2002
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ASSETS
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||||||
Current
assets:
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||||||
Cash
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$
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0
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$
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0
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Total
current assets
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0
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0
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||||
TOTAL
ASSETS
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$
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0
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$
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0
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LIABILITIES
AND STOCKHOLDERS' DEFICIT
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||||||
Current
liabilities:
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||||||
Accounts
payable
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$
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0
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$
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0
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Total
current liabilities
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0
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0
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||||
Long-term
Liabilities:
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||||||
TOTAL
LIABILITIES
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0
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0
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STOCKHOLDERS'
DEFICIT (Note 4)
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||||||
Preferred
Convertible Series D stock, 1,000,000 shares authorized, no par
value,
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140,000
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140,000
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||||
140,000
shares issued and outstanding
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—
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—
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||||
Preferred
Convertible Series E stock, 3,000,000 shares authorized, no par
value,
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235,000
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235,000
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||||
2,500,000
shares issued and outstanding
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||||||
Common
stock, 30,000,000 shares authorized, no par value,
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2,753,079
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2,753,079
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23,372,569
shares issued and outstanding
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Treasury
Stock, Preferred Convertible shares
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(235,000)
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(235,000)
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Retained
deficit
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(2,893,079)
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(2,893,079)
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TOTAL
STOCKHOLDERS' DEFICIT
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0
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0
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||||
TOTAL
LIABILITIES AND STOCKHOLDERS' DEFICIT
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$
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0
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$
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0
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See
notes to the financial statements
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||||||
F-2
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AMT
Group, Inc., fka EMB Corp.
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STATEMENTS
OF OPERATIONS
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|||||||
For
The
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For
The
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For
The
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|||||
Six
Months Ended
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Six
Months Ended
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Year
Ended
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March
31, 2003
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March
31, 2002
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September
30, 2002
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Revenues:
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Sales
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$
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0
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$
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4,970,124
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$
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42,220,967
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Total
revenues
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0
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4,970,124
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42,220,967
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Expenses:
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Salaries
and Wages
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0
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77,403
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0
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General
and administrative (Note 1)
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0
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5,773,338
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2,900,803
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Interest
and fees
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0
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0
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41,915
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Commissions
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0
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0
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0
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Write
Down of Assets
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0
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0
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34,154,035
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Total
operating expenses
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0
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5,850,741
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37,096,753
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Income
(Loss) from operations
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0
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(880,617)
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5,124,214
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Provision
for Income Taxes (Note 5)
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-
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2,400
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-
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NET
INCOME (LOSS)
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$
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0
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$
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(883,017)
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$
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5,124,214
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Basic
income (loss) per common share
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$
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0.00
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$
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0.00
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$
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0.60
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Diluted
income (loss) per common share
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$
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0.00
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$
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0.04
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$
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0.45
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Weighted
average common shares outstanding - Basic
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22,226,140
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0
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8,490,952
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Weighted
average common shares outstanding - Diluted
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2,226,140
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(20,258,009)
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11,490,952
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See
notes to the financial statements
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|||||||
F-3
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AMT
Group, Inc., fka EMB Corp.
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|||||||||||||||
STATEMENT
OF CHANGES IN STOCKHOLDERS' DEFICIT
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|||||||||||||||
Total
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|||||||||||||||
Preferred
Stock
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Common
Stock
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Treasury
Stock
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Retained
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Stockholders'
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||||||||||
Shares
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Amount
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Shares
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Amount
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Shares
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Amount
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Deficit
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Deficit
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|||||||
Balance
at September 30, 2001
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*
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2,500,000
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$
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235,000
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$
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16,706,944
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$
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1,841,901
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(2,500,000)
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$
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(235,000)
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(7,134,276)
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$
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(5,292,375)
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Issued
Stock
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*
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140,000
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140,000
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6,665,625
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911,178
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0
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0
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—
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1,051,178
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Net
Income (loss) for the period from October 1, 2001
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through
September 30,2002
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—
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—
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—
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—
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—
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—
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5,124,214
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5,124,214
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(883,017)
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(883,017)
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Balance
at September 30, 2002
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*
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2,640,000
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375,000
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23,372,569
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2,753,079
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(2,500,000)
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(235,000)
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(2,893,079)
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0
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Net
Income (loss) for the period from October 1, 2002
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through
March 31, 2003
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—
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—
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—
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—
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—
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—
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Balance
at March 31, 2003
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*
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2,640,000
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375,000
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23,372,569
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2,753,079
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(2,500,000)
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(235,000)
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(2,893,079)
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0
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See
notes to the financial statements
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|||||||||||||||
F-4
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AMT
Group, Inc., fka EMB Corp.
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|||||||
STATEMENTS
OF CASH FLOWS
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For
The
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For
The
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For
The
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|||||
Six
Months Ended
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Six
Months Ended
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Year
Ended
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March
31,
2003
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March
31,
2002
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September
30,
2002
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CASH
FLOWS FROM OPERATING ACTIVITIES
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|||||||
Net
loss
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$
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0
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$
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(663,766)
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$
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5,124,514
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Adjustments
to reconcile net income to
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|||||||
net
cash provided by operating activities:
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Depreciation
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-
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15,038
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0
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Changes
in operating assets and liabilities:
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0
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Accounts
Receivable
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0
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(4,525)
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0
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Loans
held for sale
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0
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(4,659,407)
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0
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Restricted
Assets
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0
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132,387
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0
|
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Other
Assets
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0
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(201,557)
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0
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Accounts
payable and accrued expenses
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0
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(311,385)
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0
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Issuance
of Common Stock for services
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0
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655,028
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0
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Line
of Credit
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0
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4,659,407
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0
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NET
CASH PROVIDED BY OPERATING ACTIVITIES
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0
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(378,780)
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5,124,514
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CASH
FLOWS FROM INVESTING ACTIVITIES
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Cash
received from acquisition of business
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0
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97,032
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0
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CASH
FLOWS FROM FINANCING ACTIVITIES
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Principal
paid on notes payable
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317,979
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0
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Accumulated
deficit
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0
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0
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(8,017,293)
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Common
Stock
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0
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0
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2,753,079
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Preferred
Convertible Series D
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0
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0
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140,000
|
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Preferred
Convertible Series E
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0
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0
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235,000
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Treasury
Stock
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0
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(235,000)
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NET
CASH USED IN FINANCING ACTIVITIES
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0
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0
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(5,124,214)
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NET
CHANGE IN CASH
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0
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(60,801)
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0
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CASH
BALANCES
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|||||||
Beginning
of period
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0
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578,936
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0
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End
of period
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$
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0
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$
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518,135
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$
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0
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See
notes to the financial statements
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|||||||
F-5
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NOTE
2.
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GOING
CONCERN
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NOTE
3.
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STOCKHOLDERS’
DEFICIT
|
For
The
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For
The
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|||
Six
Months Ended
|
Year
Ended
|
|||
March
31,
2003
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September
30,
2002
|
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U.S.
statutory federal rate, graduated………………………………..
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34.24%
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34.24%
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State
income tax rate, net of federal…………………………………….
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4.21%
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4.21%
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Net
operating loss (NOL) for which
|
||||
no
tax benefit is currently
available……………............................
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-38.45
%
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-38.45%
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0.00%
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0.00%
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Exhibit
#
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Description
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3.1
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Restated
Articles of Incorporation (incorporated by reference to Exhibit 3(i)
to
our Registration Statement on Form 10-SB filed on June 28,
1996).
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3.2
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Bylaws
(incorporated by reference to Exhibit 3(i) to our Registration Statement
on Form 10-SB filed on June 28, 1996).
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31.1
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Certification
of Ms.
Pak King Diu,
pursuant to Rule 13a-14(a) (Attached hereto).
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31.2
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Certification
of Ms.
Pak King Diu,
pursuant to Rule 13a-14(a) (Attached hereto).
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32.1
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Certification
of Ms.
Pak King Diu,
pursuant to 18 U.S.C Section 1350, as adopted pursuant to Section
906 of
the Sarbanes-Oxley Act of 2002 (Attached
hereto).
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Signatures
|
||||
In
accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
|
||||
/s/
Ms. Pak King Diu
Ms.
Pak King Diu
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President,
Chief Financial Officer and Secretary
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December
11, 2007
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