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JZZ TECHNOLOGIES, INC.
UpdatedCompany Information and Disclosure Statement
JUNE30, 2012
Part A General CompanyInformation
Item I
The exact name of the issuerand its predecessor (if any)
The name of the issuer aslisted on the OTC Markets is JZZ Technologies, Inc. (the"Issuer"). However, on July 2,2012, the Issuer filed an amendment toits articles of incorporation with the Nevada Division of Corporations changingits name to Sirius Financial Services, Inc. The Issuer is in the process ofpreparing the necessary filings with FINRA to change its name and symbol withFINRA. However, due to FINRA’s review process, we are unable to determine whenthe name and symbol will be officially changed by FINRA.
The Issuer owns all of theissued and outstanding shares of common stock of Sirius Financial Operating Services,Inc., a Nevada corporation, which it operates as a wholly owned subsidiary.
Item II
The address of the issuer'sprincipal executive offices
The address ofthe Issuer's principal executive offices is 12707 High Bluff Dr, Suite 200, SanDiego CA 92130 .
Item III
The jurisdiction(s) and dateof the issuer's incorporation or organization
The Issuer was incorporated inthe State of Nevada on April 1, 2007.
Part B ShareStructure
Item IV
The exact title and class ofsecurities outstanding
The Issuer's only class ofoutstanding securities is Common Stock, par value $.001 per share. The CUSIP number of the Issuer'sCommon Stock is 466299302. The tradingsymbol of the Issuer's Common Stock is "JZZI."
Item V
Par or stated value anddescription of the security
A. Par Value
The Common Stock of the Issuerhas a par value of $.001 per share.
B. Common or Preferred Stock
1. Common Equity.
Each holder of Common Stock is entitled to one vote for each share ofCommon Stock owned of record. The holders of shares of Common Stock do notpossess cumulative voting rights, which means that the holders of more thanfifty percent of the outstanding shares voting for the election of directorscan elect all of the directors, and in such event the holders of the remainingshares will be unable to elect any of our directors. Except with respect to theelection of directors and provided that appropriate notice has been given inaccordance with the Bylaws, action may be taken without a meeting, if a writtenconsent setting forth the action taken is signed by holders of not less thanthe minimum number of shares necessary to authorize the action at a meeting ifall shares entitled to vote were present and voted. If the consent of allshares entitled to vote is not obtained, within ten days of obtaining theconsent by a sufficient number of shares to approve the vote, subsequent noticemust be given to holders who did not so consent.
Holders of outstanding sharesof Common Stock are entitled to receive dividends out of assets legallyavailable therefore at such times and in such amounts as the Board of Directorsmay from time to time determine. Upon the liquidation, dissolution, or windingup of the Company, the assets legally available for distribution to theshareholders will be distributable ratably among the holders of the sharesoutstanding at the time. Holders of the shares of Common Stock have nopreemptive, conversion, or subscription rights, and shares are not subject toredemption.
2. Preferred Stock.
The Issuer has not authorizedany Preferred Stock.
3. Describe any other material rights of common orpreferred shareholders.
Except as otherwise describedin this Item V, the common stock shareholders have any other material rights atthis time.
Item VI
The number of shares ortotal amount of the securities outstanding for each class of securitiesauthorized
A. Preferred Stock
1. As of the date hereof, the Issuer has no shares ofPreferred Stock authorized
B. Common Stock
1. As of the date hereof, the Issuer had 450,000,000 sharesof Common Stock, par value $.00I per share, authorized.
2. As of the date hereof 30,147,454 shares of Common Stockwere issued and outstanding.
3. As of the date hereof, there were 6,031,604 freely tradable shares of Common Stock of the Issuer (publicfloat).
4. As of the date hereof, there were 61 shareholders of record of the Common Stock of the Issuer.
Part C Business Information
Item VII
The name and address of theissuer's transfer agent.
The Issuer's transfer agent isFirst American Stock Transfer, Inc., 4747 North 7th Street, Suite170, Phoenix, AZ 85014. The telephone number of Pacific Stock Transfer Co.,Inc. is (602) 485-1346. First American Stock Transfer, Inc. is registered underthe Securities Exchange Act of 1934.
Item VIII
The nature of the issuer'sbusiness
The Companywas in various businesses over the years. On January 30, 2012 the Company entered into ashare exchange agreement with the shareholders of Sirius Financial Operating Services, Inc.,f/k/a Sirius Financial Services, Inc., a Nevada corporation (“Sirius”).Pursuant to that agreement, the Company issued 24,000,0000 shares to theshareholders of Sirius in exchange for all their shares of Sirius and thisresulted in a change of control of theCompany. Prior to the acquisition, the Company operated as JZZ Technologies,Inc., with a business focus in computer programming and data processing. The company has altered its model toaccompany the full product development of Sirius.
A. Business Development
1. The form of organizationof the Issuer.
The issuer is a Nevadacorporation.
2. The year that the Issuer(or any predecessor) was organized.
The Issuer was organized in2007.
3. The Issuer's fiscal yearend date.
The Issuer's fiscal year ends onMarch 31.
4. Whether the Issuer(and/or any predecessor) has been in bankruptcy, receivership or any similarproceeding.
N/A
5. Whether the Issuer hasmade any material reclassification, merger, consolidation, or purchase or saleof a significant amount of assets.
Except asdescribed in this Item VIII above, (the acquisition of Sirius FinancialServices, Inc) the Issuer has not made any material classification, merger,consolidation or purchase or sale of a significant amount of assets during thepast three years.
6. Any default in the termsof any note, loan, lease or other indebtedness or financing arrangementrequiring the Issuer to make payments.
To the knowledge of the presentmanagement, the Issuer has not defaulted on any indebtedness or financingarrangements.
7. Any change of control ofthe Issuer.
As describedabove, in January 2012 a change of control occurred when the Company issued 24,000,000shares of common stock to the shareholdersof Sirius.
8. Any increase of 10% ormore of the same class of outstanding equity
In January2012, when we issued 24,000,000 shares to the shareholders of Sirius, ouroutstanding common shares increased over 10%, to 30,147,454
9. Any past, pending oranticipated stock split, stock dividend, recapitalization, merger, acquisition,spin-off or reorganization.
In addition to what is described in this Item VIII above, duringthe past three years, in January 2012, the company underwent a 1 for 200 reverse stock split but has nointentions of any further stock splits, stock dividend, recapitalization,merger, acquisition, spin-off or reorganization involving the Issuer.
10. Any delisting of theIssuer's securities by any securities exchange or deletion from the OTCBulletin Board.
There has not been anydelisting of the Issuer's securities by any securities exchange or deletionfrom the OTC Bulletin Board during the past three years.
11. Any current, past,pending or threatened legal proceedings or administrative actions either by oragainst the Issuer that could have a material effect on the Issuer's business,financial condition or operations and any current, past or pending tradingsuspensions by a securities regulator.
The Issuer is not a party to anypending or threatened legal proceedings or administrative actions either by oragainst the Issuer that could have a material effect on the Issuer's business,financial condition or operations or result in any trading suspension by asecurities regulator.
B. Business of lssuer
Forward Looking Statements
Except for historicalinformation, the matters discussed herein and in the Issuer's press releasesand other public pronouncements contain forward-looking statements within themeaning of the Private Securities Litigation Reform Act of 1995. The words"believe," "expect," "intend,""anticipate," "estimate" and similar expressions identifycertain of such forward looking statements. Such forward-looking statements aresubject to risks and uncertainties that could cause actual results to bematerially different from historical results or from any results expressed orimplied by such forward looking statements. Any forward-looking statementsspeak only as of the date on which such statements are made, are not guaranteesof future performance, and involve certain risks, uncertainties and assumptionsthat are difficult to predict. Therefore, actual outcomes and results maydiffer materially from what is expressed or implied in such forward looking statements,whether as a result of new information, future events or otherwise.
Factors that could cause suchresults to differ materially from the results discussed in such forward-lookingstatements include, without limitation: uncertainty of the Issuer's meeting itsoperational needs due to current working capital constraints; losses to date;no assurances of and uncertainty of profitability; need for additional equityinvestment and/or debt capital; no current agreements, arrangements, orunderstandings for such needed capital; no assurances of the Issuersuccessfully executing upon its business plan; substantial competition fromcompanies having substantially greater financial, marketing and other resourcesthan the Issuer, including name and brand recognition; the impact ofcompetitive services and pricing; changing consumer tastes and trends; and noassurances of an active or sustained trading market in the Issuer's securities.Many of such factors are beyond the Issuer's control. New factors emerge fromtime to time and it is not possible for management to predict all of suchfactors, nor can management assess the impact of each such factor, orcombination of factors, which may cause actual results to differ materiallyfrom those contained in any forward-looking statements. In light of these risksand uncertainties, there can be no assurance that the results anticipated inthese forward-looking statements will in fact occur. The Issuer undertakes noobligation to update any such forward-looking statements.
Introduction
The Issuer,through it wholly owned subsidiary,Sirius acquired 100% of Samvriddhi, acompany that represents commercial banks in India that provide financialservices to the villagers as mandated by the Government of India and thereserve bank of India. Siriusis entering the market to:
•Accessto 250,000,000 potential clients
•Accessto over 733,000 Villages
•Mandatedby Government & Reserve Bank of India
•RemovingCorruption
•Reachingthe consumer directly
•Educating,Empowering, and Escalating Captive Audience
•Easyto introduce other essential products
•Followa precise franchise model
•Accessto “Brand Name Banks”
1. The Issuer's primary and secondary SIC Codes.
SIC Code: 6099
2. Whether the Issuer has never conducted operations, isin the development stage or is currently conducting operations.
The Issuer iscurrently conducting operations and is a revenue producing company.
3. Whether the Issuer is or has at any time been a"shell company."
The Issuer is not a "shellcompany" as that term is defined in Rule 405 promulgated by the Securitiesand Exchange Commission.
4. State the namesof any parent, subsidiary or affiliate of the Issuer and its business purpose,its method of operation, its ownership and whether it is included in thefinancial statements attached to this Disclosure Statement.
At present,the Issuer has one wholly owned subsidiary, Sirius Financial Operating Services, Inc., which in turn owns 100% ofSamvriddhi, a company that represents commercial banks in India. A description of the business purpose andmethod of operation of the Subsidiary is set forth in this Item VIII.B, above.No financial statements are attached to this Disclosure Statement.
5. The effect of existing or probable governmentalregulations on the business.
The financialInclusion program is mandated by the Government of India and the India reservebank and we, by law, must operate under those guidelines. As a US based company that owns a Indianoperating subsidiary, We are subject to the Fair Labor Standards Act andvarious state laws governing such matters as minimum wages, overtime and otherworking conditions. We are subject tothe Americans with Disabilities Act, which prohibits discrimination inemployment and public accommodations on the basis of disability, and theOccupational Safety and Health Act, which requires that manufacturing plantsand other operations maintain safe and healthful working conditions. We aresubject to the Uniting and Strengthening America by Providing Appropriate ToolsRequired to intercept and Obstruct Terrorism Act of 2001 (the “PatriotAct”). In order to ensure compliancewith the Patriot Act, we will ask each of our licensees to confirm for us thatthey, and their directors, officers, shareholders, partners, members,employees, or agents, are not suspected terrorists, persons associated withsuspected terrorists, or under investigation by the U.S. government forcriminal activity. Further federal, state and local government initiatives,such as mandatory health insurance coverage, “living wages” or other proposedincreases in minimum wage rates, could adversely affect us if enacted into law.
6. An estimate of the amountspent during each of the last two fiscal years on research and developmentactivities and, if applicable, the extent to which the cost of such activitiesare borne directly by customers.
During the past two fiscalyears, minimal time and money was expended by the Issuer on research and developmentactivities.
7. Costs and effects ofcompliance with environmental laws (federal, state and local).
The costs and effects of ourcompliance with applicable environmental laws are not material to our businessor operations.
8. The number of totalemployees and the number of full-time employees.
At present, wehave 350 contract employees) employees,all of whom work for the SamvriddhiGroup
Item IX The nature ofproducts or services offered.
A. Principal products or services and their markets
The Issuer, throughits wholly owned subsidiary, Siriusowns100% of Samvriddhi Group. Samvriddhi was established by a group of experiencedBanking & Financial professionals with an objective to facilitate aFinancial and Social Inclusion drive towards the alleviation of poverty issuesin rural and urban India.
The companyrepresents commercial banks in providing financial services to the villagers asmandated by the Government of India and the Reserve Bank of India. It intendsto build effective working relationships with other strategic companies towardsacceleration of Social and Financial Inclusion drive.
Our Services
Trading Module forskill upgrading of the employees
The majority of the facets of banking are definedoperationally, mathematically, procedurally, legally, regulatory orotherwise. They are successfully handledthrough controls, procedures, processes and experience and occupy the majorityof the staff’s time. We view thesefacets as the science and engineering of banking. But, in the fast changing competitivescenario, the customers want to see the art of banking. The choice of acceptingor rejecting a bank lies in art of banking. Customers want to see the art ofbanking rather Science and Engineering.
In the rural perspective, we are way behind inscience and engineering of banking and often fail to identify the rural spaceas profit centre and create market in the bottom of the pyramid.
Therefore, in our training modules, we kept inmind that,
The programoffers specialization in 2 domains for skill progression of the employees:
a. Prelims ofBanking & Finance
b. Insurance & Financial Services
| Module: 1 – Prelims of Banking & Finance | Module: 2 – Financial Products & Services |
| Fundamentals of Finance | Financial Products and Services |
| Core Banking & Banking Operations | Overview of General & Life Insurance |
| Technology Banking & Processes | Retail Banking |
| Managerial Skills | Sales & Relationship Management |
We have panel ofexperts and experienced bankers who have excelled in their career in Banking,Financial Services and Insurances. Imparting art of marketing and skill tohandle technology and processes can be designed as per specific requirement ofa bank.
Our Mission
Ensuring greaterfinancial inclusion is almost as important as providing health and education.Keeping this in mind, we wish to create a vision in the minds of people whomatter in the journey towards achieving meaningful social and financialinclusion in backward regions and downtrodden economic segments.
Our mission willbe to create a talent pool - an engine for learning and disseminating knowledgeand information to the base level population aiming to mitigate and strengthensustainable economic and social development.
Besides,we will provide services to banks mostly in the rural landscape, in capacitybuilding exercise imparting training to upgrade skills of the employees inScience, Engineering and Arts of banking.
Our Aim
Ourservices is to engage ourselves in accelerating Financial and Social Inclusionin Eastern Indian States partnering NGOs and premier PSU and leading PrivateSector Banks within the ambit of regulatory guidelines of RBI, the apex bank.
Richerby experiences in BFSI domain, our specific mission would be:
· SpreadingFinancial Literacy as conceived by the apex bank through Financial Literacy andCounseling Centre - FLCC.
· Createa robust and low-cost delivery channel for the bottom of the pyramid mass andextending reach through state-of-the-art technology;
· RiskManagement / Mitigation in Financial Services being the forte, our endeavorwould be to establish effective Virtual Banking Services for the un-served andunder-served at affordable costs;
· Samvriddhishall endeavor to enroll as an effective Business Correspondent for premier PSUand Pvt. Sector Banks.
Our Charter
Samvriddhi shallwork for the underprivileged both in rural and in urban locations.
We shall work asa facilitator, handholding other NGOs / MFIs / SHGs so that a low-cost deliverymechanism can be evolved.
We shall endeavorto involve financial sector professionals - expert's from banking, insuranceand other financial services.
Weshall aim to deliver low-cost and small-sized financial products so that suchproducts work as a safety valve for users. The latter would not depend onunscrupulous operators and middlemen who have been exploiting them (misusingtheir less-informed status) and preventing them from utilizing various socialschemes launched by the government from time to time.
FinancialInclusion and Poverty issues
Financial exclusionis the experience of poverty which affects people who have low incomes, and whomay have no access to affordable credit, bank accounts, savings, insurancecover or access to important debt advice. As estimated by RBI that over 60%people in India are financially excluded.
Most recentfigures suggest that this majority of Indian population is unable or reluctantto access mainstream financial services. Financial exclusion tends to affectthe most vulnerable members of society. It also contributes to theinter-generational cycle of disadvantage. Those living on low incomes, andexperiencing multiple forms of disadvantage, are most likely to be affected byfinancial exclusion. Those who are financially excluded face the risk ofbecoming further indebted. Some people have no option but to borrow money fromhigh interest doorstep lenders, pay more for utility bills as they are unableto utilize the direct debit savings, or rely on the higher charging pre paymentmeters.
Economies withlack of financial inclusion may experience reduced economic growth, socialmobility and persistent poverty. This is because the lack of access tofinancial services (from credit to banking and insurance services) may preventthe poor from taking advantage of lucrative investment opportunities.
Financial inclusion is delivery of banking services at an affordablecost to the vast sections of underprivileged and low-income groups. Byfinancial inclusion we mean the provision of affordable financial services,viz., access to payments and remittance facilities, savings, loans andinsurance services by the formal financial system to those who tend to beexcluded.
In India, as per latest available statistics(June, 2009), 100 banking centers out of 43000 odd centers caters around 75-80percentage of volumes in Deposits and Credits;
As per RBI estimates, 60% of Indian population donot have any bank account;
Insurance as Livelihood Support: Despite achieving a healthy 16 percent annualgrowth rate, India's general insurance business accounts for just 0.6 percentof the gross domestic product (GDP), compared to the world average of 2.14percent, says a report released here Tuesday.
"The penetration of general insurance in Indiaremains low on account of low consumer preference, largely untapped ruralmarkets and constrained distribution channels," said the reportjointly prepared by Crisil and the Associated Chambers of Commerce and Industryof India (Assocham).
"India ranks 136th on penetration levels andlags behind China (106), Thailand (87), Russia (86), Brazil (85), Japan (61)and the US (9)."
Human Development Index: India
India has fallento 132 in the new rankings of the United Nations Human Development Index (HDI)for 179 nations. At rank 132, India also lags behind war-ravaged Congo,Botswana, and Bolivia. (The last is often called Latin America's poorestnation). The Occupied Territories of Palestine (torn by conflict for 60 years)are also ahead of us. Another neighbor - Sri Lanka - has been devastated by warfor over two decades and has slipped a few notches. It still logs in at 104 -28 rungs above India. Vietnam suffered casualties in millions in the war wagedagainst it by the United States. Decades after, its agriculture is yet torecover from the planned destruction, lethal bombing, and the conscious use ofdeadly poisons. But Vietnam clocks in at 114 and China at 94 despite fallingseveral places.
Our rank in the Hunger Index at 94, while Chinais at 47 and Pakistan at 88.
27% of all primary school dropouts all over theworld are from India, while Child Labor is the norm rather than the exception.
157 districts are Naxalite affected while 25% ofpopulation (280 million) is assessed as Below Poverty Line (BPL).
The NREGS is yet to succeed and land, water,forest resources are at critical levels of exhaustion.
There is unending migration to the urban areasand 30% of the population is now urbanized.
Rural poverty, under-employment, starvation andlack of safe drinking water and sanitation, poor education and medicalfacilities, all take their toll of the rural population.
Onall parameters, rural India has not been a success story except wherecommunities/clusters of people have decided to make far-reaching changes,themselves. With 60% of the rural population dependent on agriculture for aliving, we need to analyze what has gone astray in the agriculture sector.
Context
Impressiveeconomic growth
The Indianeconomy is growing at a steady rate of 8-9% over the last five years. Thisrepresents a marked shift from the annual average growth rate of 3.5% postedduring the 1950-1980 period. The growth rate had accelerated to 6% in the 1980sand 1990s. India has in recent years figured among the top ten fastest growingeconomies in the world.
Despite the verypalpable growth, there is a huge paradox. A shocking 30-35% of India 'spopulation still lives below the poverty line. Poverty, accompanied by lowhealth and abysmal nutrition levels, high infant mortality and abjectilliteracy, is now almost uniform in terms of the proportion of population inrural and urban areas. Roughly 260 million people or 26% of the population arebelow the poverty line - those living on less than $1 per day - the number ofpoor would be much larger at around 400 million, accounting for over 36% of thepopulation.
Within these poorsections are the poorest. These people live on an income of less than $0.50 perday. Most live in the states of Bihar, Madhya Pradesh, Rajasthan and UttarPradesh. With the carving out of the states of Chhattisgarh, Jharkhand andUttaranchal from Madhya Pradesh, Bihar and Uttar Pradesh respectively, thereare now further additions to the list of poverty-ridden states.
Financialinclusion: Need for a new paradigm
Typically, financial inclusion in India is characterized by thefollowing:
* 60% Indians suffer financial exclusion. In most of the developed countries, such'financial exclusion' is, however, less than 15%.
* Lower outreach by financial institutions/MFIs/SHG/banklinkage program in comparison to below poverty line (BPL) and low-incomepopulation.
* Priority sector lending norm of 18% advances toagriculture is not met in manystates. Also, agriculture's share in priority sector lending has been decliningin some states.
* Financialinclusion is characterized primarily as either general access to loans (mostly consumptionor consumer loans rather than livelihood loans) or access to savingsaccounts.
Very few risk management andvulnerability reducing products are available to smallholder producers.
* Access to finance is primarily a bridgingresource for many low-income groups.
Given the abovecontext, to truly include the poor would require the creation of a variety ofrisk/vulnerability management mechanisms and ensuring that they are consistently and simultaneously available. Unlessmajor risks are simultaneously covered, the likelihood of one risk wiping outan entire livelihood is a very high possibility, and people who have beentemporarily included would be excluded again.
* Samvriddhi shall conceive location-specificeconomic programs backed by credit packages delivered by commercial banks,regional rural banks etc. and involved established SHGs in creating creditlinkages in identified backward regions.
* Besides engaging itself in rural and semi-ruralareas, Samvriddhi shall also focus on a very important segment: unorganizedlaborers in semi-urban and urban areas.
Tendulkar panelclaims every third Indian is poor:
An expert groupheaded by former chairman of Prime Minister's Economic Advisory Council SureshTendulkar submitted its report on measuring Indian Poverty to the Dy. ChairmanPlanning commission on the 8th of December 2009.
"It is a newpoverty line, defined on a wider access to commodity and services like healthand education and not calories," Tendulkar said about the methodology usedby him to find out poverty.
If it is accepted by the government, the belowpoverty line population would jump by nearly 10 crore from 27.5% (as wasestimated in 2004) to 37.2%.
So as per 2004-05 prices, a person spending lessthan Rs 19 in urban areas and Rs 15 in rural areas would now be called poor.The current poverty line is a per capita expenditure of Rs 12 per day.
41.8% of people in rural areas live below thepoverty line as against 25.7% of urban residents. The officially accepted levelfor rural poverty was 28.3%. It hasn't changed for urban areas.
Today,37.2% of people, that is over 37 crore, live below the poverty line. If thereport is accepted, the government's poverty estimates would be closer to thosemade by the World Bank, which said 42% of Indians lived below poverty line in2005. The bank's poverty line is pegged at $1.25 a day, or at India's PPP rateRs21.6 a day in urban areas and Rs14.3 a day in rural areas.
Proprietary Technology
The Companydoes not own or control any proprietary products, licenses or trade secrets.
CompetitiveSummary
SiriusFinancial is in direct competition with other Indian based companies that areoperating in the same financial inclusion program. Due to increased technology advances and theneed for awareness to drive increased product sales, the specialized segmentthat we operate in is becoming one of the fastest growing segments in thebanking industry.
B. Distribution methods of the productsor services
The Companyutilizes an affiliate program for its sales and marketing efforts in theIndia. Seminars, web casts, emailcampaigns, social networking sites, Internet web site and banner ads areseveral of the methods used for advertising to current and potential customers.
C. Statusof any publicly announced new product or service
In the pastthree years, the issuer has not announced any release of new products:
D.Competitive business conditions, the Issuer's competitive position in theindustry and methods of competition
The productsof Sirius have primary direct compatibility with mainstream banks inIndia. As the public becomes moreeducated and aware of the banking products available to the 700 million plusvillagers in rural India, we feel our market segment will continue to be one ofthe fastest market segments.
PricingMatrix
Our pricingstrategy must support profitable, explosive growth that establishes Sirius inthe marketplace – one which is easy and cost effective to consumers anddelivers exceptional products and savings to end users. This strategy mustdefine pricing for affiliates and customers that serve the entire market.
RetailPricing
At this timewe aren’t supplying our products to mainstream retail. We are offering our products through directmarketing and our affiliate program. These programs offer quantity discounts for our products to all affiliatemembers.
Major Retailers
The Companydoes not currently service or supply to any of the major retail chains. At thistime the business model is to reach customers through direct marketing of ourproducts via our web site and our affiliate program at the branch and villagelevel.
E.Dependence on one or a few major customers
We are notdependent on one or a few major customers for sales in Sirius Financial.
F. Patents,trademarks, licenses, franchises, concessions, royalty agreements or laborcontracts, including their duration
We rely on acombination of trademarks and copyrights for our advertising and marketingmaterial.
Patents - The Company does not currently ownany patents.
Copyright/Trademark - The Company owns trademarks on itscorporate logo and other images that it uses for branding and corporateidentity.
TradeSecrets - TheCompany does not own any trade secrets.
G. The needfor governmental approval of principal products or services and the status ofany governmental approvals
The Governmenthas already mandated the entire process for financial inclusion throughoutIndia. The banking products and servicesthat we offer are regulated by the Government and Reserve Bank of India. The Reserve Bank will conduct regularinspections of our facilities to ensure compliance on a regular and ongoingbasis.
Item X
The natureand extent of the issuer's facilities
ExecutiveOffice
Our principalexecutive offices are located in an office building located at 12707 High BluffDr, suite 200, San Diego CA 92130
Part DManagement Structure and Financial Information
Item XI
The name ofthe Chief Executive Officer, members of the Board of Directors, as well ascontrol persons
A. Officers and Directors
Our director and officers areas follows:
Cherian Arattuculam,Chairman/Chief Executive Officer
CherianArattuculam has held a variety of senior management, sales and commercialbanking positions since starting his business career in 1990. He has anundergraduate in Business Administration and an MBA from the College of NotreDame. Cherian started his business career with Wells Fargo Bank in theirbusiness/commercial banking division and in 1996 joined Bank of America astheir Senior Vice President managing the commercial banking division inNorthern California.
In 2000 he joined CitiBank as the SalesDirector/Executive VP for their business banking division and since has heldmany challenging and senior positions within the banking industry. In 2007Cherian started his own financial services company servicing the needs of thesecondary financial markets focusing his efforts in the lucrative commercialmortgage backed securities. Since 2009 Cherian had been a part of JP MorganChase in their commercial/business-banking program.
Alok Ranjan Pati,Secretary
Alok,a Xavier Institute of Management, Bhubaneswar (XIMB) graduate, workedextensively with State Bank Home Finance Limited, Centurion Bank and HDFC Bank.In his last assignment with HDFC Bank, he was Circle Head in East.
In hisentire career spanning over 19 years, Alok has worked in both in semi urban /urban and metro locations in east covering credit, deposits and generalbanking. During his tenure as Circle Head and Cluster Head, he was assignedbranches located in NE, a part of WB and Jharkhand.
EmploymentAgreements
At this time we have enteredinto various agreements with our contractemployees or officers.
Stock Ownership
CherianArattuculam is the beneficial owner of 6,000,000 shares of Common Stock of theIssuer, that constitutes approximately 20% of the number of issued andoutstanding shares of Common Stock of the Issuer.
Alok RanjanPati is the beneficial owner of 6,000,000 shares of Common Stock of the Issuer,that constitutes approximately 20% of the number of issued and outstandingshares of Common Stock of the Issuer.
B.Legal/Disciplinary History
None of the Issuer's executiveofficers, directors or control persons have in the last five years, been thesubject of:
1. A conviction in a criminalproceeding or named as defendant in a pending criminal proceeding (excludingtraffic violations and other minor offenses);
2. The entry of an order,judgment or decree not subsequently reversed, suspended or vacated, by a courtof competent jurisdiction that permanently or temporarily enjoined, barred,suspended, or otherwise limited such person's involvement in any type ofbusiness, securities, commodities or banking activities;
3. A finding or judgment by acourt of competent jurisdiction (in a civil action), the Securities andExchange Commission, the Commodities Futures Trading Commission or a statesecurities regulator of a violation of federal or state securities orcommodities law, which finding or judgment has not been reversed, suspended orvacated; or
4. The entry of an order by aself-regulatory organization that permanently or temporarily barred, suspendedor otherwise limited such person's involvement in any type of business or securitiesactivities.
C. Disclosure of Family Relationships
There are nofamily relationships, by blood, marriage or adoption, among or between any ofour directors, officers or beneficial owners of more than five percent of ouroutstanding shares of Common Stock.
D. Disclosure of Related Party Transactions
There have been no relatedparty transactions.
E. Disclosure of Conflicts of Interest
Item XII
Financial information forthe issuer's most recent fiscal period
Financial statements of theIssuer as filed with the OTC Markets are incorporated by reference.
Item XIII
Similar financialinformation for such part of the two preceding fiscal years as the issuer orits predecessor has been in existence
Financialstatements of the Issuer are being prepared at present. No financial statementsof the Issuer are being supplied at this time.
Item XIV
Beneficial Owners
The following table sets forthinformation regarding the beneficial ownership of each person known by theIssuer to beneficially own more than five percent of the outstanding shares ofCommon Stock of the Issuer as of the date hereof:
Name and Address ofBeneficial Owner Number of Shares Percentage
CherianArattuculam 6,000,000 19.90%
375 Prince Anwar Shah Road
Tower 2, Flat 19A
Kolkata, 700068 India
Alok RanjanPati 6,000,000 19.90%
Flat # 2/6/22 Tower 2
Calcutta Greens, Survey Park
Kolkata 700075 India
Jayanta Kumar Gupta 6,000,000 19.90%
EC 279, Sector 1
Salt Lake City
Kolkata 700064 India
Dilip Kumar Satpathy 6,000,000 19.90%
Flat # 4/8/32 Tower 4
Calcutta Greens, Survey Park
Kolkata 700075 India
Item XV
The name, address, telephonenumber and email address of each of the following outside providers that advisethe issuer on matters relating to the operations, business development anddisclosure:
1. Investment Banker: NotApplicable
2. Promoters: Not Applicable
3. Counsel:
Eric Littman, Esquire
7695 SW 104 St
Suite 210
Miami, FL, 33156
Tel: (305) 663-3333
Fax: (305) 668-0003
Email: elittman@aol.com
4. Auditor:
SilbersteinUngar, Pllc
30600Telegraph Rd # 2175
Bingham Farms,MI 48025
(248) 203-0080
5. Public RelationsConsultant(s): Not Applicable
6. Investor RelationsConsultant: Not Applicable
7. Other Advisor(s): NotApplicable
Item XVI
Management’s Discussion andAnalysis or Plan of Operations
Since appropriate financialstatements of the Issuer have not yet been prepared, it is not possible atpresent to prepare a management's discussion and analysis of financialcondition and results of operation.
Part E Issuance History
Item XVII
List of securities offeringsand shares issued for services in the past two years
Reference is made to Item XVIIIabove.
Part F Exhibits
Item XVIII
Material Contracts
The Company has not enteredinto any exclusive or material contracts.
Item XIX
Articles of Incorporationand Bylaws
The Amended and RestatedArticles of Incorporation of the Issuer are attached as
Attachment E.
The Amended and Restated Bylawsof the Issuer are attached as Attachment F.
Item XX
Purchases of EquitySecurities by the Issuer and Affiliated Purchasers
Except as set forth in ItemVIII above, the Issuer has not purchased any equity securities of the Issuer.
Item XXI
Issuer's Certifications
I, Cherian Arattuculam, certifythat:
I have reviewed the Updated InitialCompany Information and Disclosure Statement dated
June 30, 2012 of JZZTechnologies, Inc., a Nevada corporation;
1. Based on my knowledge, this disclosure statement doesnot contain any untrue statement of a material fact or omit to state a materialfact necessary to make the statements made, in light of the circumstances underwhich such statements were made, not misleading with respect to the periodcovered by this disclosure statement; and
2. Based on my knowledge, the financial statements, andother information included or incorporated by reference in this disclosurestatement, fairly present in all material respects the financial condition,results of operations and cash flows of the issuer as of, and for, the periodspresented in this disclosure statement.
CHERIAN ARATTUCULAM
________________________________________
Cherian Arattuculam
President/CEO
