DOUBLE
EAGLE HOLDINGS, LTD.
|
||
(Exact
name of small business issuer as
specified in its charter)
|
NEVADA
|
87-0460247
|
|
(State
or other jurisdiction of incorporation or organization)
|
(IRS
Employer Identification No.)
|
7633
E 63RD
PLACE, SUITE 220, TULSA, OK 74133
|
||
(Address
of principal executive
office)
|
||
(918)
461-1667
|
||
(Issuer's
telephone number)
|
|
|
|
Page
No.
|
|
|
|
|
Part
I
|
|
Financial
Information
|
|
|
|
|
|
|
Item
1:
|
Condensed
Financial Statements
|
|
|
|
|
|
|
|
Statements
of Net Assets (Liabilities) as of March 31, 2008 and September
30,
2007
|
3
|
|
|
Statements
of Operations - For the Three Months Ended March 31, 2008 and
2007
|
4
|
|
|
Statements
of Operations - For the Six Months Ended March 31, 2008 and
2007
|
5
|
|
|
Statements
of Cash Flows - For the Six Months Ended March 31, 2008 and
2007
|
6
|
|
|
Statements
of Changes in Net Assets - For the Six Months Ended March 31, 2008
and
2007
|
7
|
|
|
Financial
Highlights - For the Six Months Ended March 31, 2008 and
2007
|
8
|
|
|
Schedule
of Investments as of March 31, 2008 and September 30, 2007
|
9
|
|
|
Notes
to Financial Statements
|
11
|
|
Item
2:
|
Managements
Discussion and Analysis of Financial Condition and Results of
Operations
|
19
|
|
Item
3:
|
Quantitative
and Qualitative Disclosure about Market Risk
|
28
|
|
Item
4:
|
Controls
and Procedures
|
28
|
|
|
|
29
|
Part
II
|
|
Other
Information
|
|
|
|
|
|
|
Item
1:
|
Legal
Proceedings
|
|
|
Item
1A:
|
Risk
Factors
|
|
|
Item
2:
|
Unregistered
Sales of Equity Securities and Use of Proceeds
|
|
|
Item
3:
|
Defaults
Upon Senior Securities
|
|
|
Item
4:
|
Submission
of Matters to a Vote of Security Holders
|
|
|
Item
5:
|
Other
Information
|
|
|
Item
6:
|
Exhibits
|
|
|
Signatures
|
|
|
|
Exhibits
|
|
March
31,
|
September
30,
|
||||||
2008
|
2007
|
||||||
(Unaudited)
|
|||||||
ASSETS
|
|||||||
Investments
in portfolio companies:
|
|||||||
Unaffiliated issuers (cost $428,673 at March 31, 2008 and $164,500
at
|
|||||||
September
30, 2007)
|
$
|
318,673
|
$
|
114,500
|
|||
Affiliated issuers (cost $406,304 at March 31, 2008 and $0
at
|
|||||||
September
30, 2007)
|
406,304
|
-
|
|||||
Total
investments
|
724,977
|
114,500
|
|||||
Cash
and cash equivalents
|
44,181
|
8,351
|
|||||
Accounts
receivable - portfolio companies
|
6,487
|
318
|
|||||
TOTAL ASSETS
|
775,645
|
123,169
|
|||||
LIABILITIES
|
|||||||
Accounts
payable
|
10,756
|
6,039
|
|||||
Accrued
expenses
|
166
|
166
|
|||||
TOTAL CURRENT LIABILITIES
|
10,922
|
6,205
|
|||||
Dividends
payable
|
-
|
30,946
|
|||||
Preferred
stock, $.001 par value; 12,500 shares authorized; 2,713 shares
issued
|
|||||||
and outstanding; $271,300 liquidation preference
|
-
|
271,300
|
|||||
TOTAL
LIABILITIES AND PREFERRED STOCK
|
10,922
|
308,451
|
|||||
NET
ASSETS (LIABILITIES)
|
$
|
764,723
|
$
|
(185,282
|
)
|
||
Commitments
and contingencies
|
|||||||
COMPOSITION
OF NET ASSETS:
|
|||||||
Common
stock, $.001 par value; authorized 100,000,000 shares;
49,005,820
|
|||||||
shares and 6,375,821 shares issued and outstanding at March
31,
2008
|
|||||||
and September 30, 2007, respectively
|
$
|
49,006
|
$
|
6,376
|
|||
Additional
paid-in capital
|
9,859,109
|
8,602,963
|
|||||
Stock
subscription receivable
|
-
|
(5,000
|
)
|
||||
Accumulated
deficit:
|
|||||||
Accumulated net operating loss
|
(9,033,392
|
)
|
(8,739,621
|
)
|
|||
Net realized gain (loss) on investments
|
-
|
-
|
|||||
Net unrealized appreciation (depreciation) of investments
|
(110,000
|
)
|
(50,000
|
)
|
|||
NET
ASSETS (LIABILITIES)
|
$
|
764,723
|
$
|
(185,282
|
)
|
||
NET
ASSET (LIABILITY) VALUE PER SHARE
|
$
|
0.0156
|
$
|
(0.0291
|
)
|
||
See
accompanying notes to condensed financial
statements.
|
2008
|
2007
|
||||||
Income
from operations:
|
|||||||
Interest
income from unaffiliated portfolio companies
|
$
|
3,787
|
$
|
-
|
|||
Interest
income from affiliated portfolio companies
|
769
|
-
|
|||||
4,556
|
-
|
||||||
Expenses:
|
|||||||
Officer
and employee compensation and benefits
|
13,500
|
-
|
|||||
Professional
fees
|
46,225
|
-
|
|||||
Shareholder
services and communications
|
5,172
|
958
|
|||||
Director
fees
|
3,000
|
-
|
|||||
Website
costs
|
5,769
|
||||||
Other
general and administrative expense
|
1,424
|
-
|
|||||
75,090
|
958
|
||||||
Loss
before income taxes and realized and unrealized losses
|
(70,534
|
)
|
(958
|
)
|
|||
Income
taxes
|
-
|
-
|
|||||
Loss
from operations
|
(70,534
|
)
|
(958
|
)
|
|||
Preferred
dividends
|
162,780
|
-
|
|||||
Loss
from operations available to common shareholders
|
(233,314
|
)
|
(958
|
)
|
|||
Net
realized and unrealized gains (losses):
|
|||||||
Net
realized gain (loss) on investments, net of income taxes of
$0
|
-
|
-
|
|||||
Change
in unrealized appreciation (depreciation) of portfolio
|
|||||||
investments, net of deferred income taxes of $0
|
(16,875
|
)
|
12,500
|
||||
Net
realized and unrealized gains (losses)
|
(16,875
|
)
|
12,500
|
||||
Net
increase (decrease) in net assets from operations
|
$
|
(250,189
|
)
|
$
|
11,542
|
||
Net
increase (decrease) in net assets from operations per share,
|
|||||||
basic and diluted
|
$
|
(0.0061
|
)
|
$
|
0.0204
|
||
Weighted
average shares outstanding
|
40,946,993
|
566,193
|
|||||
See
accompanying notes to condensed financial
statements.
|
2008
|
2007
|
||||||
Income
from operations:
|
|||||||
Interest
income from unaffiliated portfolio companies
|
$
|
5,300
|
$
|
-
|
|||
Interest
income from affiliated portfolio companies
|
869
|
-
|
|||||
6,169
|
-
|
||||||
Expenses:
|
|||||||
Officer
and employee compensation and benefits
|
22,000
|
-
|
|||||
Professional
fees
|
94,365
|
5,500
|
|||||
Shareholder
services and communications
|
7,629
|
2,993
|
|||||
Director
fees
|
4,000
|
-
|
|||||
Website
costs
|
5,769
|
-
|
|||||
Other
general and administrative expense
|
3,397
|
-
|
|||||
137,160
|
8,493
|
||||||
Loss
before income taxes and realized and unrealized losses
|
(130,991
|
)
|
(8,493
|
)
|
|||
Income
taxes
|
-
|
-
|
|||||
Loss
from operations
|
(130,991
|
)
|
(8,493
|
)
|
|||
Preferred
stock dividends
|
162,780
|
-
|
|||||
Loss
from operations available to common shareholders
|
(293,771
|
)
|
(8,493
|
)
|
|||
Net
realized and unrealized gains (losses):
|
|||||||
Net
realized gain (loss) on investments, net of income taxes of
$0
|
-
|
-
|
|||||
Change
in unrealized appreciation (depreciation) of portfolio
|
|||||||
investments, net of deferred income taxes of $0
|
(60,000
|
)
|
12,500
|
||||
Net
realized and unrealized gains (losses)
|
(60,000
|
)
|
12,500
|
||||
Net
increase (decrease) in net assets from operations
|
$
|
(353,771
|
)
|
$
|
4,007
|
||
Net
increase (decrease) in net assets from operations per share,
|
|||||||
basic and diluted
|
$
|
(0.0134
|
)
|
$
|
0.0118
|
||
Weighted
average shares outstanding
|
26,332,415
|
339,032
|
|||||
See
accompanying notes to condensed financial
statements.
|
2008
|
2007
|
||||||
Operating
activities:
|
|||||||
Net
increase (decrease) in net assets from operations
|
$
|
(353,771
|
)
|
$
|
4,007
|
||
Adjustments
to reconcile net increase (decrease) in net assets
|
|||||||
from operations to net cash used in operating activities:
|
|||||||
Change
in unrealized (appreciation) depreciation of
|
|||||||
portfolio investments
|
60,000
|
(12,500
|
)
|
||||
Investments
in portfolio companies
|
(350,477
|
)
|
(25,000
|
)
|
|||
Preferred
dividends declared
|
162,780
|
-
|
|||||
Changes
in operating assets and liabilities:
|
|||||||
Accrued interest receivable from portfolio companies
|
(6,169
|
)
|
-
|
||||
Accounts payable
|
4,717
|
(1,507
|
)
|
||||
Net
cash used in operating activities
|
(482,920
|
)
|
(35,000
|
)
|
|||
Investing
activities:
|
|||||||
Net
cash used in investing activities
|
-
|
-
|
|||||
Financing
activities:
|
|||||||
Common
stock issued for cash
|
575,250
|
35,000
|
|||||
Preferred
dividends paid in cash
|
(67,500
|
)
|
-
|
||||
Collection
of stock subscription receivable
|
11,000
|
-
|
|||||
Net
cash used in investing activities
|
518,750
|
35,000
|
|||||
Net
increase (decrease) in cash and cash equivalents
|
35,830
|
-
|
|||||
Cash
and cash equivalents, beginning of period
|
8,351
|
-
|
|||||
Cash
and cash equivalents, end of period
|
$
|
44,181
|
$
|
-
|
|||
Supplemental
Cash Flow Information:
|
|||||||
Cash
paid for interest and income taxes:
|
|||||||
Interest
|
$
|
-
|
$
|
-
|
|||
Income taxes
|
-
|
-
|
|||||
Non-cash
investing and financing activities:
|
|||||||
Common stock issued for redemption of preferred stock and
|
|||||||
payment
of preferred dividends
|
397,526
|
-
|
|||||
Common stock issued to acquire investment
|
320,000
|
-
|
|||||
Common stock issued for stock subscription receivable
|
6,000
|
-
|
|||||
See
accompanying notes to condensed financial
statements.
|
2008
|
2007
|
||||||
Changes
in net assets from operations:
|
|||||||
Net
loss from operations
|
$
|
(293,771
|
)
|
$
|
(8,493
|
)
|
|
Net
realized gain (loss) on sale of investments, net
|
-
|
-
|
|||||
Change
in net unrealized appreciation (depreciation)
|
|||||||
of investments, net
|
(60,000
|
)
|
12,500
|
||||
Net
increase (decrease) in net assets from operations
|
(353,771
|
)
|
4,007
|
||||
Capital
stock transactions:
|
|||||||
Common
stock sold for cash
|
575,250
|
35,000
|
|||||
Common
stock issued for investment
|
320,000
|
-
|
|||||
Common
stock issued for redemption of preferred stock and payment
|
|||||||
of preferred dividends
|
397,526
|
-
|
|||||
Collection
of stock subscription receivable
|
11,000
|
-
|
|||||
Net
increase in net assets from stock transactions
|
1,303,776
|
35,000
|
|||||
Net
increase in net assets
|
950,005
|
39,007
|
|||||
Net
assets (liabilities), beginning of period
|
(185,282
|
)
|
(309,246
|
)
|
|||
Net
assets (liabilities), end of period
|
$
|
764,723
|
$
|
(270,239
|
)
|
||
See
accompanying notes to condensed financial
statements.
|
2008
|
2007
|
||||||
PER
SHARE INFORMATION
|
|||||||
Net
asset (liability) value, beginning of period
|
$
|
(0.0291
|
)
|
$
|
(3.1231
|
)
|
|
Net
decrease from operations
|
(0.0112
|
)
|
(0.0251
|
)
|
|||
Net
change in realized gains (losses) and unrealized
appreciation
|
|||||||
(depreciation)
of investments, net
|
(0.0023
|
)
|
0.0369
|
||||
Net
increase (decrease) from stock transactions
|
0.0582
|
3.0082
|
|||||
Net asset value, end of period
|
$
|
0.0156
|
$
|
(0.1031
|
)
|
||
Per
share market value:
|
|||||||
Beginning of period
|
$
|
0.12
|
$
|
4.44
|
|||
End of period
|
0.04
|
0.51
|
|||||
Investment
return, based on change in market price during the period
(1)
|
-69.2
|
%
|
-88.5
|
%
|
|||
RATIOS/SUPPLEMENTAL
DATA
|
|||||||
Net
assets (liabilities), end of period
|
$
|
764,723
|
$
|
(270,239
|
)
|
||
Average
net assets (liabilities)
|
356,254
|
(305,592
|
)
|
||||
Annualized
ratio of expenses to average net assets
|
77.0
|
%
|
0.05
|
%
|
|||
Annualized
ratio of net increase (decrease) in net assets from
|
|||||||
operations to average net assets
|
-198.6
|
%
|
0.02
|
%
|
|||
Shares
outstanding at end of period
|
49,005,820
|
2,621,749
|
|||||
Weighted
average shares outstanding during period
|
26,332,415
|
339,032
|
|||||
(1)
Periods of less than one year are not annualized
|
|||||||
See
accompanying notes to condensed financial
statements.
|
Percent
|
|||||||||||
Shares/
|
Quarter
|
Original
|
Fair
|
Net
|
|||||||
Interest
|
Acquired
|
Cost
|
Value
|
Assets
|
|||||||
UNAFFILIATED
PORTFOLIO INVESTMENTS
|
|||||||||||
NON-INCOME
PRODUCING INVESTMENTS
|
|||||||||||
750,000
|
Mar-07
|
EffTec
International, Inc. (Pink Sheets:EFFI);
|
$
|
125,000
|
$ |
15,000
|
|
2
|
% | ||
Jun-07
|
EffTec
has developed an Internet-based chiller
|
|
|||||||||
tool
which it is installing and selling to its customer
|
|
||||||||||
base
|
|||||||||||
125,000
|
|
15,000
|
|
2
|
% | ||||||
OIL
AND GAS PROPERTY INVESTMENT
|
|
||||||||||
Jan-08
|
Investment
in 6 gross, 1.26 net gas wells in
|
50,000
|
50,000
|
|
7
|
% | |||||
Washington
County, Oklahoma with an average
|
|||||||||||
net
revenue interest of approximately 81.6%
|
|||||||||||
50,000
|
|
50,000
|
|
7
|
% | ||||||
LOAN
INVESTMENTS
|
|||||||||||
Loan
|
Sep-07
|
Line
of credit with Signature Energy, Inc. (private)
|
43,750
|
43,750
|
|
6
|
% | ||||
Dec-07
|
with
interest at 8%; due August 2008; Signature is an
|
||||||||||
oil
and gas development and production company
|
|||||||||||
Loan
|
Sep-07
|
Line
of credit with EffTec International, Inc. with
|
50,000
|
50,000
|
|
7
|
% | ||||
Dec-07
|
interest
at 8%; due August 2008; EffTec has
|
||||||||||
developed
and sells an Internet-based chiller tool
|
|||||||||||
Loan
|
Dec-07
|
Line
of credit with ZATSO, LLC (private) with interest
|
|||||||||
at
6%; due September 30, 2008; Zatso is an Internet
|
|||||||||||
based
game developer
|
159,923
|
|
159,923
|
|
21
|
% | |||||
253,673
|
253,673
|
|
33
|
% | |||||||
Total
unaffiliated portfolio investments
|
428,673
|
318,673
|
|
42
|
% | ||||||
AFFILIATED
PORTFOLIO INVESTMENTS
|
|||||||||||
Dec-07
|
Ultimate
Social Network, Inc. (private); Ultimate owns
|
||||||||||
The
Ultimate College Model contest website. The
|
|||||||||||
contest
allows men and women enrolled in college to
|
|||||||||||
post
their pictures and enter a weekly modeling
|
|||||||||||
contest.
Members participate by rating contestants.
|
|||||||||||
60,000
[60%]
|
Stock
investment
|
320,000
|
320,000
|
|
42
|
% | |||||
Loan
|
6%
line-of-credit due September 30, 2008
|
86,304
|
|
|
86,304
|
|
11
|
% | |||
Total
affiliated portfolio investments
|
406,304
|
|
|
406,304
|
|
53
|
% | ||||
Total
investments at March 31, 2008
|
$ |
834,977
|
|
|
724,977
|
|
95
|
% | |||
Cash
and other assets, less liabilities
|
39,746
|
|
5
|
% | |||||||
Net
assets at March 31, 2008
|
$ |
764,723
|
|
100
|
% | ||||||
See
accompanying notes to financial statements.
|
Shares/
|
Quarter
|
Original
|
Fair
|
Net
|
|||||||
Interest
|
Acquired
|
Cost
|
Value
|
Assets
|
|||||||
NON-INCOME
PRODUCING INVESTMENTS
|
|||||||||||
750,000
|
Mar-07
|
EffTec
International, Inc. (Pink Sheets:EFFI);
|
$ |
125,000
|
$
|
75,000
|
-40
|
%
|
|||
Jun-07
|
EffTec
has developed an Internet-based chiller
|
|
|||||||||
tool
which it is installing and selling to its customer
|
|
||||||||||
base
|
|||||||||||
125,000
|
75,000
|
-40
|
%
|
||||||||
LOAN
INVESTMENTS
|
|
||||||||||
Loan
|
Sep-07
|
Line
of credit with Signature Energy, Inc. (prrivate)
|
14,500
|
14,500
|
|
-8
|
%
|
||||
with
interest at 8%; due August 2008; Signature is an
|
|
||||||||||
oil
and gas development and production company
|
|
||||||||||
Loan
|
Sep-07
|
Line
of credit with EffTec International, Inc. with
|
25,000
|
25,000
|
-13
|
%
|
|||||
interest
at 8%; due August 2008; EffTec has
|
|||||||||||
developed
and sells an Internet-based chiller tool
|
|||||||||||
39,500
|
39,500
|
-21
|
%
|
||||||||
Total
investments at September 30, 2007
|
164,500
|
114,500
|
-61
|
%
|
|||||||
Cash
and other assets, less liabilities
|
(299,782)
|
161
|
%
|
||||||||
Net
assets at September 30, 2007
|
$ |
(185,282)
|
100
|
%
|
|||||||
See
accompanying notes to financial statements.
|
· |
cash,
|
· |
cash
equivalents,
|
· |
U.S.
Government securities, or
|
· |
high-quality
debt investments maturing in one year or less from the date of investment.
|
· |
does
not have a class of securities registered on an exchange or included
in
the Federal Reserve Board's over-the-counter margin list;
|
· |
is
actively controlled by a BDC and has an affiliate of a BDC on its
Board of
Directors; or
|
· |
meets
such other criteria as may be established by the SEC.
|
· |
Total
amount of the Company's actual investment. This amount shall include
all
loans, purchase price of securities and fair value of securities
given at
the time of exchange;
|
· |
Total
revenues for the preceding twelve months;
|
· |
Earnings
before interest, taxes and depreciation;
|
· |
Estimate
of likely sale price of investment;
|
· |
Net
assets of investment; and
|
· |
Likelihood
of investment generating positive returns (going concern).
|
· |
Where
no or limited revenues or earnings are present, then the value shall
be
the greater of net assets, estimated sales price, or total cost for
each
investment;
|
· |
Where
revenues and/or earnings are present, then the value shall be the
greater
of one-times (1x) revenues or three-times (3x) earnings, plus the
greater
of the net assets of the investment or the total amount of the actual
investment; or
|
· |
Under
both scenarios, the value of the investment shall be adjusted down
if
there is a reasonable expectation that the Company will not be able
to
recoup the investment or if there is reasonable doubt about the
investment’s ability to continue as a going concern.
|
· |
public
and private companies,
|
· |
investment
bankers,
|
· |
attorneys,
|
· |
accountants,
|
· |
consultants,
and
|
· |
commercial
bankers.
|
· |
purchase
and sell real estate or interests in real estate in connection with
the
orderly liquidation of investments, or in connection with foreclosure
on
collateral;
|
· |
own
the securities of companies that are in the business of buying, selling
or
developing real estate; or
|
· |
finance
the purchase of real estate by our portfolio
companies.
|
· |
sell
securities short except with regard to managing the risks associated
with
publicly-traded securities issued by our portfolio
companies;
|
· |
purchase
securities on margin (except to the extent that we may purchase securities
with borrowed money); or
|
· |
engage
in the purchase or sale of commodities or commodity contracts, including
futures contracts except where necessary in working out a distressed
loan;
or in those investment situations where hedging the risks associated
with
interest rate fluctuations is appropriate, and, in such cases, only
after
all necessary registrations or exemptions from registration with
the
Commodity Futures Trading Commission have been
obtained.
|
· |
patents
or trade secrets with respect to owning or manufacturing its products,
and
|
· |
a
demonstrable and sustainable marketing advantage over its
competition
|
· |
an
initial public offering,
|
· |
a
private sale of our equity interest to a third party,
|
· |
a
merger or an acquisition of the portfolio company, or
|
· |
a
purchase of our equity position by the portfolio company or one of
its
stockholders.
|
· |
“piggyback"
registration rights, which will permit us under certain circumstances,
to
include some or all of the securities owned by us in a registration
statement filed by the eligible portfolio company, or
|
· |
in
circumstances, "demand" registration rights permitting us under certain
circumstances, to require the eligible portfolio company to register
the
securities under the 1933 Act, in some cases at our expense. We will
generally negotiate net issuance provisions in the warrants, which
will
allow us to receive upon exercise of the warrant without payment
of any
cash a net amount of shares determined by the increase in the value
of the
issuer's stock above the exercise price stated in the warrant.
|
· |
accounts
receivable,
|
· |
inventory,
and
|
· |
equipment,
|
· |
intellectual
property,
|
· |
customer
lists,
|
· |
networks,
and
|
· |
databases.
|
· |
company
and technology assessments,
|
· |
evaluation
of existing management team,
|
· |
market
analysis,
|
· |
competitive
analysis,
|
· |
evaluation
of management, risk analysis and transaction size,
|
· |
pricing,
and
|
· |
structure
analysis.
|
· |
Interviews
with management and significant shareholders, including any financial
or
strategic sponsor;
|
· |
Review
of financing history;
|
· |
Review
of management's track record with respect
to:
|
o |
product
development and marketing,
|
o |
mergers
and acquisitions,
|
o |
alliances,
|
o |
collaborations,
|
o |
research
and development outsourcing and other strategic activities;
|
· |
Assessment
of competition; and
|
· |
Review
of exit strategies.
|
· |
Evaluation
of future financing needs and plans;
|
· |
Detailed
analysis of financial performance;
|
· |
Development
of pro forma financial projections; and
|
· |
Review
of assets and liabilities, including contingent liabilities, if any,
and
legal and regulatory risks.
|
· |
Evaluation
of intellectual property position;
|
· |
Review
of existing customer or similar agreements and arrangements;
|
· |
Analysis
of core technology;
|
· |
Assessment
of collaborations;
|
· |
Review
of sales and marketing procedures; and
|
· |
Assessment
of market and growth potential.
|
· |
Assessment
of business development success, including product development,
financings, profitability and the portfolio company's overall adherence
to
its business plan;
|
· |
Periodic
and regular contact with portfolio company management to discuss
financial
position, requirements and
accomplishments;
|
· |
Periodic
and regular formal update interviews with portfolio company management
and, if appropriate, the financial or strategic sponsor;
|
· |
Attendance
at and participation in board meetings;
|
· |
Review
of monthly and quarterly financial statements and financial projections
for portfolio companies.
|
· |
monitoring
the operations of our portfolio companies,
|
· |
participating
in their board and management meetings,
|
· |
consulting
with and advising their officers, and
|
· |
providing
other organizational and financial guidance.
|
· |
None.
|
· |
None.
|
31.1
|
Certification
pursuant to 18 U.S.C. Section 1350 Section 302 of the Sarbanes-Oxley
Act
of 2002
|
32.1
|
Certification
pursuant to 18 U.S.C. Section 1350 Section 906 of the Sarbanes-Oxley
Act
of 2002
|
DOUBLE EAGLE HOLDINGS, LTD. | ||
|
|
|
May 15, 2008 | By: | /s/ M.E. Durschlag |
M.E.
Durschlag, President,
Chief
Executive Officer and
Chief
Financial Officer
|