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Wound Management Technologies, Inc. – ‘10QSB’ for 9/30/07

On: Wednesday, 11/14/07, at 9:30am ET · For: 9/30/07 · Accession #: 1010549-7-945 · File #: 0-11808

  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

11/14/07  Wound Management Techs, Inc.      10QSB       9/30/07    3:32K                                    Secs Transfer Corp/FA

Quarterly Report — Small Business — Form 10-QSB
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10QSB       Quarterly Report -- Small Business                    11     55K 
 2: EX-31       Certification per Sarbanes-Oxley Act (Section 302)     2±     8K 
 3: EX-32       Certification per Sarbanes-Oxley Act (Section 906)     1      5K

10QSB — Quarterly Report — Small Business
Document Table of Contents

Page	(sequential)	\|	(alphabetic)	Top
			Alternative Formats (Word, et al.) Controls and Procedures Defaults Upon Senior Securities - None Exhibits Financial Statements Legal Proceedings - None Management's Discussion and Analysis or Plan of Operations Other Information - None Submission of Matters to a Vote of Security Holders - None Unregistered Sales of Equity Securities and Use of Proceeds - None
1	1st Page - Filing Submission
2	Item 1 -. Financial Statements
8	Item 2:. Management's Discussion and Analysis or Plan of Operations
10	Item 3. Controls and Procedures
11	Item 1. Legal Proceedings - None
"	Item 2. Unregistered Sales of Equity Securities and Use of Proceeds - None
"	Item 3. Defaults Upon Senior Securities - None
"	Item 4. Submission of Matters to a Vote of Security Holders - None
"	Item 5. Other Information - None
"	Item 6. Exhibits

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 U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 FORM 10-QSB

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

For the quarterly period ended: September 30, 2007

[ ]  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT            

 Commission File No. 0-11808

 MB SOFTWARE CORPORATION

Texas                                  59-2220004 
(State or other jurisdiction of                (I.R.S. Employer         
incorporation or organization)               Identification Number)     

 777 Main Street
Suite 3100
 Fort Worth, Texas 76102
(817) 633-9400

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 past 12 months (or
for 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 is a shell company (as defined in
Rule 12b-2 of the Exchange Act). Yes [ ] No [X]                                 

As of October 31, 2007, 16,145,432 shares of the Issuer's $.001 par value common
stock were outstanding.                                                         

Transitional Small Business Disclosure Format (Check one): Yes [ ] No [X]       

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MB SOFTWARE CORPORATION AND SUBSIDIARY

 Form 10-QSB

Quarter Ended September 30, 2007

PART I - FINANCIAL INFORMATION                                                  

ITEM 1 - FINANCIAL STATEMENTS                                                   

Consolidated Balance Sheet as of September 30, 2007 (Unaudited)............. F-3

Consolidated Statements of Operations for the three and nine months ended       
        September 30, 2007 and 2006 (Unaudited)............................. F-4

Consolidated Statements of Cash Flows for the nine months ended September 30,   
2007 and 2006                                                   
        (Unaudited)......................................................... F-5

Condensed Notes to Consolidated Financial Statements........................ F-6

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS..........   8

ITEM 3. CONTROLS AND PROCEDURES.............................................  10

PART II. OTHER INFORMATION                                                      

ITEM 1. Legal Proceedings...................................................  11
ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds.........  11
ITEM 3. Defaults Upon Senior Securities.....................................  11
ITEM 4. Submission of Matters to a Vote of Security Holders.................  11
ITEM 5. Other Information...................................................  11
ITEM 6. Exhibits............................................................  11

SIGNATURE...................................................................  11

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                     MB SOFTWARE CORPORATION AND SUBSIDIARY                                
                           CONSOLIDATED BALANCE SHEET                                      
                                   (UNAUDITED)                                             

                                                                         September 30, 2007
                                                                         ------------------
                                                                                           

CURRENT ASSETS:                                                                            

   Cash                                                                          41,031    
   Accounts Receivable                                                           60,982    
   Inventory                                                                    273,066    
   Prepaid and other current assets                                                --      
                                                                            -----------    
     Total current assets                                                       375,079    

Property and Equipment, Net                                                      38,410    

Other Assets                                                                     13,739    

                                                                            -----------    
       TOTAL ASSETS                                                             427,228    
                                                                            ===========    

LIABILITIES AND STOCKHOLDERS' DEFICIENCY                                                   
Current Liabilities:                                                                       
   Accounts payable                                                              42,379    
   Accrued Liabilities                                                           30,969    
   Accrued payroll tax penalty                                                  324,789    
   Obligation under capital lease                                                 3,169    
   Accrued interest - related parties                                           202,906    
   Other accrued current expense                                                 43,645    
   Notes payable (Note 3)                                                       500,000    
   Notes payable - related parties                                              866,324    
                                                                            -----------    
     Total current liabilities                                                2,014,181    

Long Term Liabilities:                                                             --      

                                                                            -----------    
       TOTAL LIABILITIES                                                      2,014,181    

Stockholders' Deficiency                                                                   
      Preferred stock, $10 par value, 5,000,000 shares authorized; issued                  
and outstanding, none                                                              --      
      Common stock:  $0.001 par value;  20,000,000 shares authorized;                      
issued and outstanding 16,145,432                                                16,145    
      Additional paid-in capital                                             11,181,496    
   Less:  Treasury Stock                                                        (12,039)   
   Accumulated deficit                                                      (12,772,555)   
                                                                            -----------    
         Total stockholders' Deficiency                                      (1,586,953)   

                                                                            -----------    
       TOTAL LIABILITIES AND STOCKHOLDERS'  DEFICIENCY                          427,228    
                                                                            ===========    


 See condensed notes to consolidated financial statements.

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                     MB SOFTWARE CORPORATION AND SUBSIDIARY                                                       
                      CONSOLIDATED STATEMENTS OF OPERATIONS                                                       
                FOR THE PERIODS ENDED SEPTEMBER 30, 2007 AND 2006                                                 
                                   (UNAUDITED)                                                                    

                                                           THREE          THREE           NINE            NINE    
                                                           MONTHS         MONTHS         MONTHS          MONTHS   
                                                           ENDED          ENDED          ENDED           ENDED    
                                                       September 30,  September 30,  September 30,   September 30,
                                                           2007           2007           2007            2006     
                                                        -----------    -----------    -----------    -----------  
                                                                                                                  

TOTAL REVENUE                                              173,319         39,556        557,365        133,340   

COST OF REVENUE                                             70,395         26,495        207,835        104,858   
                                                       -----------    -----------    -----------    -----------   

GROSS PROFIT                                               102,924         13,061        349,530         28,482   

GENERAL AND ADMINISTRATIVE EXPENSES:                       192,402        118,093        556,678        362,457   

                                                       -----------    -----------    -----------    -----------   
(LOSS) FROM OPERATIONS:                                    (89,478)      (105,032)      (207,148)      (333,975)  

OTHER (EXPENSE):                                           (37,049)       (35,644)      (108,782)       (84,479)  
   Interest expense - related parties                                                                             

                                                       -----------    -----------    -----------    -----------   
NET LOSS BEFORE INCOME TAXES                              (126,527)      (140,676)      (315,930)      (418,454)  

                                                       -----------    -----------    -----------    -----------   

NET LOSS                                                  (126,527)      (140,676)      (315,930)      (418,454)  
                                                       ===========    ===========    ===========    ===========   

Basic and diluted loss per share of common stock:      $     (0.01)   $     (0.01)   $     (0.02)   $     (0.03)  

Weighted average number of common shares outstanding    16,145,432     16,145,432     16,145,432     16,145,432   


See condensed notes to the financial statements.

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                     MB SOFTWARE CORPORATION AND SUBSIDIARY                                           
                      CONSOLIDATED STATEMENTS OF CASH FLOWS                                           
       FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2007 AND SEPTEMBER 30, 2006                            
                                   (UNAUDITED)                                                        

                                                                           NINE MONTHS    NINE MONTHS 
                                                                              ENDED          ENDED    
                                                                          September 30,  September 30,
                                                                              2007           2006     
                                                                            --------       --------   
                                                                                                      

Cash flows from operating activities                                                                  
------------------------------------                                                                  
 (Loss) from continuing operations                                          (315,930)      (418,454)  

      Adjustments to reconcile net loss to net cash used in                                           
 operating activities                                                                                 

   Depreciation and amortization                                               6,505          7,275   
   Write off of bad debts                                                       --           14,156   
   Changes in assets and liabilities:                                                                 
   (Increase)  in accounts receivable                                         (1,257)       (27,657)  
   (Increase)  in inventory                                                 (176,495)      (141,520)  
  Decrease in prepaid expenses and other assets                               46,537         87,590   
    Increase (decrease) in accounts payable and accrued liabilities           (3,017)       165,028   
    Increase  in related party accrued interest                              161,440           --     
                                                                            --------       --------   
Net cash flows (used) in operating activities                               (282,217)      (313,582)  

Cash flows from investing activities                                                                  
------------------------------------                                                                  
   Purchase of fixed assets                                                   (1,500)       (16,430)  
                                                                            --------       --------   
Net cash flows (used) in investing activities                                 (1,500)       (16,430)  

Cash flows from financing activities                                                                  
------------------------------------                                                                  
   Net advances - related parties                                             88,447        331,345   
   Principal payments under capital lease                                       --           (2,969)  
                                                                            --------       --------   
Net cash flows provided by financing activities                               88,447        328,376   

                                                                            --------       --------   
(Decrease) in cash                                                          (195,270)        (1,636)  

Cash and cash equivalents, beginning of period                               236,301          2,828   
                                                                            --------       --------   
Cash and cash equivalents, end of period                                      41,031          1,192   
                                                                            ========       ========   

Cash paid during the period for:                                                                      
--------------------------------                                                                      
   Interest                                                                        0              0   
   Income taxes                                                                    0              0   
Non-cash investing & financing                                                  None           None   


 See condensed notes to consolidated financial statements.

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MB SOFTWARE CORPORATION AND SUBSIDIARY
QUARTER ENDED SEPTEMBER 30, 2007
CONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

--------------------------------------------------------------------------------

NOTE 1: BASIS OF PRESENTATION                                                   

The accompanying  unaudited consolidated financial statements have been prepared
in accordance with accounting principles generally accepted in the United States
of America for interim  financial  information and with the instructions to Form
10-QSB and Rule 10-01 of Regulation S-X. They do not include all information and
notes required by accounting  principles generally accepted in the United States
of America for complete financial statements.                                   

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 for all periods  presented have been made.
Preparing  financial  statements  requires  management  to  make  estimates  and
assumptions that affect the reported amounts of assets, liabilities, revenue and
expenses.  Actual  results  may differ  from  these  estimates.  The  results of
operations  for  the  period  ended  September  30,  2007  are  not  necessarily
indicative  of the  operating  results  that may be expected for the entire year
ending  December  31,  2007.  These  financial  statements  should  be  read  in
conjunction  with the  Management's  Discussion  and  Analysis  included  in the
Company's financial  statements and accompanying notes thereto as of and for the
year ended  December 31, 2006,  filed with the  Company's  Annual Report on Form
10-KSB.                                                                         

Reclassification  - The financial  statements for periods prior to September 30,
2007 have been reclassified to conform to the headings and classifications  used
in the September 30, 2007 financial statements.                                 

NOTE 2: GOING CONCERN                                                           

The financial  statements  have been prepared on a going  concern  basis,  which
contemplates  realization  of  assets  and  liquidation  of  liabilities  in the
ordinary course of business.  The Company has continuously  incurred losses from
operations and has a significant  accumulated  deficit.  The  appropriateness of
using the going concern basis is dependent upon the Company's  ability to obtain
additional  financing or equity capital and,  ultimately,  to achieve profitable
operations.  These  conditions  raise  substantial  doubt  about its  ability to
continue as a going concern.                                                    

It is the  Company's  belief that it will  continue to incur losses for at least
the next twelve months,  and as a result will require additional funds from debt
or equity investments to meet such needs. To meet these objectives, management's
plans are to (i) raise capital by obtaining  financing from debt financing and /
or equity financing through private placement  efforts,  (ii) issue common stock
for  services  rendered in lieu of cash  payments  and (iii)  obtain  loans from
shareholders  as  necessary.   Without  realization  of  additional  capital  or
significant  revenues from  operations,  it would be unlikely for the Company to
continue as a going concern.  The Company anticipates that its shareholders will
contribute  sufficient  funds to satisfy  the cash needs of the  Company for the
next twelve months.  However,  there can be no assurances to that effect, as the
Company's  revenues have been  insufficient to sustain the Company's  operations
and the Company's need for capital may change  dramatically  if it is successful
in expanding its current  business or acquiring a new  business.  If the Company
cannot obtain needed funds, it may be forced to curtail or cease its activities.

Management  believes  that  actions  presently  taken to  revise  the  Company's
operating and financial  requirements provide the opportunity for the Company to
continue as a going  concern.  The  Company's  future  ability to achieve  these
objectives  cannot  be  determined  at this  time.  The  accompanying  financial
statements do not include any adjustments  that might result from the outcome of
this uncertainty.                                                               

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NOTE 3 - NOTES PAYABLE                                                            
                                                                                  
                                                             Accrued       Total  
                                                             Interest      Debt   
 Investment Firm, unsecured, payable on December 31, 2007                         
             including interest at 10% per annum           $   39,930  $  500,000 
                                                           ==========  ===========
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NOTE 4 - NOTES PAYABLE and RELATED PARTY TRANSACTIONS                                     

Funds  are  advanced  from  various  related  parties  including  the  Company's          
President and CEO/CFO and entities  controlled by him.  Other  shareholders  may          
fund the Company as necessary to meet working capital requirements and expenses.          
The advances are made pursuant to note  agreements that bear interest at 10% per          
annum, with various maturity dates. All notes are current  liabilities.  Accrued          
interest to related parties totaled $202,906, at September 30, 2007.                      

                                                                        Accrued     Total 
                                                                        Interest    Debt  
                                                                        --------  --------
                                                                                          

Scott Haire, Company Chairman, CEO, and CFO,                                              
        unsecured, payable on December 31, 2007, including                                
        interest at 10% per annum                                       $  2,255  $ 10,000

HEB LLC, Scott Haire an owner, Chairman, CEO, and CFO,                                    
        unsecured, two separate $1,000,000 open lines of credit,                          
        no maturity  date,  interest at 10% per annum,                                    
        unused lines available at September 30, 2007 total                                
        $1,458,086                                                       119,193   541,914

Araldo Cossutta, Company Director and Stockholder,                                        
        unsecured series of notes:                                                        
        payable on December  31, 2007, with interest at 10%               30,673   142,000
        payable on December 31, 2007, with interest at 10%                49,955   170,000

eAppliance Payment Solutions, LLC, owned by Scott Haire                                   
        and Araldo Cossutta, unsecured, payable on                                        
        December 31, 2007, interest at 10% per annum                         830     2,410
                                                                        --------  --------

                                              Total Current Balance     $202,906  $866,324
                                                                        ========  ========


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NOTE 5 - COMMITMENTS AND CONTINGENCIES                                          

Operating leases                                                                

The Company  leases office space and office  equipment  under  operating  leases
expiring in various years through 2009. Rental expense charged to operations for
the nine months  ended  September  30,  2007 was  approximately  $43,527  (2006:
$27,000).  Minimum future rental payments under non-cancelable  operating leases
having remaining terms in excess of 1 year as of September 30, 2007, for each of
the next three years and in the aggregate are as follows (approximately):       

2007            $      62,000                Federal Payroll Taxes              
2008                   58,000                                                   
2009                   39,000                The  Company is  delinquent  in the
                ----------------             payment   of   its    payroll   tax
                $     159,000                liabilities   with   the   Internal
                ----------------             Revenue  Service.  As of  September
                ----------------             30,  2007,   unpaid  payroll  taxes
                ----------------             total approximately  $203,484.  The
                ================             Company   has   estimated   related
                                             penalties  and interest at $121,305
computed through  September 30, 2007, which are included in current  liabilities
at September 30, 2007. The Company expects to pay these  delinquent  payroll tax
liabilities  as soon as  possible.  The final  amount due will be subject to the
statutes of limitations related to such liabilities and to negotiations with the
Internal Revenue Service.                                                       

ITEM 2: MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS              

Introduction                                                                    

Management's  discussion  and analysis of results of  operations  and  financial
condition is provided as a supplement to the accompanying consolidated financial
statements  and  footnotes to help  provide an  understanding  of our  financial
condition, changes in financial condition and results of operations.            

Caution Concerning Forward-Looking Statements/Risk Factors                      

The  following  discussion  should  be read in  conjunction  with the  financial
statements and the notes thereto and the other financial  information  appearing
elsewhere in this document. In addition to historical information, the following
discussion  and other parts of this  document  contain  certain  forward-looking
information.  When used in this discussion, the words "believes," "anticipates,"
"expects,"  and similar  expressions  are  intended to identify  forward-looking
statements.  Such  statements  are subject to certain  risks and  uncertainties,
which could cause actual results to differ  materially  from those projected due
to a number of factors  beyond our  control.  We do not  undertake  to  publicly
update or revise any of our  forward-looking  statements  even if  experience or
future  changes show that the indicated  results or events will not be realized.
You  are  cautioned  not  to  place  undue  reliance  on  these  forward-looking
statements,  which  speak  only as of the date  hereof.  You are  also  urged to
carefully review and consider our discussions regarding the various factors that
affect our business, included in this section and elsewhere in this report.     

Factors That Could Affect Future Results                                        

We face an inherent  risk of exposure to product  liability  claims in the event
that the use of our products results in injury.  Such claims may include,  among
others,   that  our  products   contain   contaminants  or  include   inadequate
instructions  as to use or  inadequate  warnings  concerning  side  effects  and
interactions with other substances.  We do not anticipate obtaining  contractual
indemnification  from parties supplying raw materials or marketing our products.
In any event, any such indemnification if obtained would be limited by our terms
and, as a practical matter, to the  creditworthiness  of the indemnifying party.
In  the  event  that  we  do  not  have   adequate   insurance  or   contractual
indemnification, product liabilities relating to defective products could have a
material adverse effect on our operations and financial conditions.             

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Because  of  our  dependence  upon  consumer   perceptions,   adverse  publicity
associated with illness or other adverse  effects  resulting from the use of our
products or any similar  products  distributed by other  companies  could have a
material  adverse effect on our operations.  Such adverse  publicity could arise
even  if the  adverse  effects  associated  with  such  products  resulted  from
consumers' failure to consume such products as directed. In addition, we may not
be able to counter the effects of negative publicity  concerning the efficacy of
our  products.  Any  such  occurrence  could  have  a  negative  effect  on  our
operations.                                                                     

Other key factors that affect our operating results are as follows:             

o    Overall customer demand and acceptance for our various products. 
     o    Volume  of  products  ordered  and the  prices  at  which  we sell our
products.                                                   
     o    Our ability to manage our cost structure for capital  expenditures and
          operating  expenses  such  as  salaries  and  benefits,   freight  and
royalties.                                                  
o    Our ability to match operating costs to shifting volume levels.  
o    Increases  in the cost of raw  materials  and  other  supplies.  
o    The impact of competitive products.                              
o    Limitations on future financing.                                 
     o    Increases  in the cost of  borrowings  and  unavailability  of debt or
equity capital.                                             
o    Our inability to gain and/or hold market share.                  
     o    Exposure to and expense of resolving and defending  product  liability
claims and other litigation.                                
o    Managing and maintaining growth.                                 
     o    The success of product development and new product  introductions into
the marketplace.                                            
o    The departure of key members of management.                      
o    Our ability to efficiently manufacture our products.             
o    Unexpected customer bankruptcy.                                  

Overview and Plan of Operation                                                  

The  Company  currently  has limited  business  operations,  maintaining  leased
offices in Fort Worth, TX, and Fort Lauderdale, FL. All major business functions
are performed by our subsidiary,  Wound Care  Innovations,  LLC.  Although Wound
Care is a product  distributor,  it is also  responsible  for product  packaging
development,  packaging materials,  and coordination of all processes except the
actual  manufacturing of the product.  Wound Care also conducts other activities
that are typical of a product distributor,  including sales, marketing, customer
service,  and customer support.  All of these activities are run and managed out
of Wound Care's Fort Lauderdale offices.                                        

Manufacturing of our products is conducted by Applied Nutritionals. Warehousing,
shipping,  and physical  inventory  management is outsourced to Diamond Contract
Manufacturing of Rochester, NY.                                                 

Our sales and  marketing  activities  to date  have  been  limited  and have not
resulted in  sufficient  revenues to sustain the Company's  operations.  Through
these activities, we have, however, secured product evaluations with a number of
key  accounts.  These  accounts are regional  and national  healthcare  provider
organizations  that we believe represent strong recurring revenue  opportunities
for the Company.                                                                

We currently intend to secure capital resources for expansion of staff, expanded
inventory,  and marketing efforts, however we may be unsuccessful in our efforts
to secure such capital.  If we are successful in raising capital,  we anticipate
hiring  a  number  of  management,  marketing,  and  clinical  staff  to  secure
additional  accounts,  market  to the  broader  US wound  care  market,  support
customers in specific geographies,  broaden our  clinical/educational  programs,
and evaluate retail and international market opportunities.                     

Results of Operations                                                           
Nine months ended September 30, 2007 and 2006                                   

Revenues: The Company generated revenues for the nine months ended September 30,
2007 of $557,365 (2006:  $133,340),  an increase of approximately  318% from the
same period in 2006.  We believe  that the Company will  continue to  experience
higher  revenue  levels  than in the past,  primarily  as a result of  increased
expenditures on sales and marketing.                                            

Cost of revenues  and gross  margin:  Costs of revenues  for 2007 were  $207,835
(2006:  $104,858) resulting in a gross margin of $349,530 (2006:  $28,482).  Our
gross  margin  has  increased  to  approximately  63% of  revenues  compared  to
approximately 21% of revenues for the year ago period.                          

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Selling,  general and administrative expenses ("SGA").SGA for 2007 were $556,678
(2006:  $362,457)  consisting  primarily of wages,  enhanced product promotions,
facility-related  expenses, and continuing exceptional expense increases related
to our fast growth. We expect selling,  general and  administrative  expenses to
continue to increase  as we  continue  to expand our  marketing  efforts and the
number of products we offer.                                                    

Liquidity and Capital Resources                                                 

The Company currently has limited resources to maintain its current  operations,
secure more inventory, and meet its contractual obligations.  Additional capital
must be raised immediately through equity or debt offerings. If we are unable to
obtain additional  capital,  we will be unable to operate our business.  We have
historically relied on advances from related parties to fund our working capital
expenses.  We realized a loss from operations of $315,930 during the nine months
ended  September  30,  2007,  funded by cash  available at December 31, 2006 and
additional advances from shareholders of $88,447.                               

Without   realization  of  additional  capital  or  significant   revenues  from
operations, it would be unlikely for the Company to continue as a going concern.
The  consolidated  financial  statements  have been  prepared on a going concern
basis, which  contemplates  realization of assets and liquidation of liabilities
in the ordinary course of business. The Company has continuously incurred losses
from operations and has a significant  accumulated  deficit. The appropriateness
of using the going  concern  basis is dependent  upon the  Company's  ability to
obtain  additional  financing  or equity  capital  and,  ultimately,  to achieve
profitable  operations.  These  conditions  raise  substantial  doubt  about its
ability to continue as a going concern.  The financial statements do not include
any  adjustments  that might  result  from the outcome of this  uncertainty  and
should not be regarded as typical for normal operating periods.                 

It is the Company's  belief that it will continue to incur nominal losses for at
least the next twelve months, and as a result will require additional funds from
debt or equity investments to meet such needs. The Company  anticipates that its
officers and shareholders  will contribute  sufficient funds to satisfy the cash
needs of the  Company  for the next  twelve  months.  However,  there  can be no
assurances  to that effect,  as the Company has  insignificant  revenues and the
Company's  need for  capital  may change  dramatically  if it is  successful  in
acquiring a new business.  If the Company cannot obtain needed funds,  it may be
forced to curtail or cease its activities.  Our future funding requirements will
depend on  numerous  factors,  some of which are beyond the  Company's  control.
These  factors  include  our  ability to operate  profitably,  recruit and train
management and personnel, and to compete with other, better-capitalized and more
established competitors. To meet these objectives, management's plans are to (i)
raise capital by obtaining  financing  through private placement  efforts,  (ii)
issue  common  stock for  services  rendered in lieu of cash  payments and (iii)
obtain loans from officers and shareholders as necessary.                       

ITEM 3. CONTROLS AND PROCEDURES                                                 

As of the end of the period  covered by this  report,  the Company  conducted an
evaluation,  under the supervision and with the  participation  of the principal
executive officer, who is also the principal financial officer, of the Company's
disclosure  controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e)
under the Securities  Exchange Act of 1934 (the "Exchange Act")).  Based on this
evaluation,   the  principal  executive   officer/principal   financial  officer
concluded that the Company's disclosure controls and procedures are effective to
ensure that information  required to be disclosed by the Company in reports that
it files or submits  under the Exchange Act is recorded,  processed,  summarized
and  reported  within the time  periods  specified  in  Securities  and Exchange
Commission  rules and  forms.  There was no  change  in the  Company's  internal
control over financial  reporting  during the Company's most recently  completed
fiscal  quarter  that  has  materially  affected,  or is  reasonably  likely  to
materially affect, the Company's internal control over financial reporting.     

There were no significant changes in the Company's internal controls or in other
factors that could significantly affect these controls subsequent to the date of
such evaluation.                                                                

10

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PART II  - OTHER INFORMATION                                                    

ITEM 1. Legal Proceedings - None                                                

ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds - None      

ITEM 3. Defaults Upon Senior Securities - None                                  

ITEM 4. Submission of Matters to a Vote of Security Holders - None              

ITEM 5. Other Information - None                                                

ITEM 6. Exhibits                                                                

(a) Exhibits                                                                    

31        Certification pursuant to Rule 13a-14(a)/15d-14(a)                    

32        Certification of Principal  Executive Officer and Principal  Financial
          Officer  in  accordance  with 18 U.S.C.  Section  1350,  as adopted by
Section 906 of the Sarbanes-Oxley Act of 2002               

SIGNATURES

In accordance  with the  requirements  of the Exchange Act, the  registrant  has
caused this report to be signed on its behalf by the undersigned  thereunto duly
authorized.                                                                     

                           MB SOFTWARE CORPORATION

                      /S/ Scott A. Haire
Date: November 12, 2007                   Scott A. Haire, Chairman of the Board,
                                         Chief Executive Officer and President
                                 (Principal Financial Officer)

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Dates Referenced Herein and Documents Incorporated by Reference

		Referenced-On Page
This ‘10QSB’ Filing	Date	First	Last	Other Filings

	12/31/07	6	7	10-K, 10-K/A, NT 10-K
Filed on:	11/14/07
	11/12/07	11
	10/31/07	1
For Period End:	9/30/07	1	10
	12/31/06	6	10	10KSB, 10KSB/A
	9/30/06	2	9	10QSB
				List all Filings

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Filing Submission 0001010549-07-000945 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Wound Management Technologies, Inc. – ‘10QSB’ for 9/30/07

On: Wednesday, 11/14/07, at 9:30am ET · For: 9/30/07 · Accession #: 1010549-7-945 · File #: 0-11808

Previous ‘10QSB’: ‘10QSB’ on 8/9/07 for 6/30/07 · Latest ‘10QSB’: This Filing

Quarterly Report — Small Business — Form 10-QSBFiling Table of Contents

10QSB — Quarterly Report — Small BusinessDocument Table of Contents

Dates Referenced Herein and Documents Incorporated by Reference

Quarterly Report — Small Business — Form 10-QSB
Filing Table of Contents

10QSB — Quarterly Report — Small Business
Document Table of Contents