10-Q 1 0001.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Form 10-Q [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended August 31, 2000 ------------------------------------------------ OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________________ to ______________________ Commission File Number 333-61801 -------------------------------------------------------- JURAK CORPORATION WORLD WIDE, INC. (Exact name of registrant as specified in its charter) MINNESOTA 88-0407679 ---------------------------------------- --------------------------------- (State or other jurisdiction of (IRS Employer Identification No.) incorporation or organization) 1181 Grier Drive, Suite C, Las Vegas, NV 89119-3746 --------------------------------------------------------- (Address of principal executive offices) (702) 914-9688 --------------------------------------------------------- (Registrant's telephone number, including area code) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months, (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes _X_ No ___ 15,527,750 Common Shares were outstanding as of October 16, 2000 ---------- JURAK CORPORATION WORLD WIDE, INC. I N D E X Page ---- PART I. FINANCIAL INFORMATION Item 1. Financial Statements (Unaudited) Condensed Balance Sheets August 31, 2000 (Unaudited) and May 31, 2000 1 Statements of Operations Three months ended August 31, 2000 and 1999 (Unaudited) 2 Condensed Statements of Cash Flows Three months ended August 31, 2000 and 1999 3 Selected Notes to Condensed Financial Statements (Unaudited) 4 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 5 PART II. OTHER INFORMATION 6-7 Part I. FINANCIAL INFORMATION Item 1. FINANCIAL STATEMENTS JURAK CORPORATION WORLD WIDE, INC. CONDENSED BALANCE SHEETS
August 31, May 31, ASSETS 2000 2000 ------------ ------------ (Unaudited) (Audited) Cash (including savings) $ 13,024 $ 12,899 Accounts receivable 488 488 Inventories 163,898 174,852 ------------ ------------ Total current assets 177,410 188,239 Property, plant and equipment - net 67,765 74,548 Other assets 66,189 65,959 ------------ ------------ $ 311,364 $ 328,746 ============ ============ LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Accounts payable $ 26,383 $ 29,159 Accrued expenses 100,012 63,534 Payable to stockholder, officer 1,148,639 1,079,674 ------------ ------------ Total current liabilities 1,275,034 1,172,367 STOCKHOLDERS' EQUITY (DEFICIT): Common stock 15,528 15,528 Additional paid-in capital 569,158 569,158 Accumulated deficit (1,548,356) (1,428,307) ------------ ------------ (963,670) (843,621) ------------ ------------ $ 311,364 $ 328,746 ============ ============
Note: The balance sheet at May 31, 2000 has been taken from the audited financial statements at that date, and has been condensed. See Notes to Condensed Financial Statements. 1 JURAK CORPORATION WORLD WIDE, INC. STATEMENTS OF OPERATIONS (Unaudited)
Three Months Ended August 31 ------------------------------ 2000 1999 ------------ ------------ Sales $ 158,429 $ 79,383 Cost of sales 12,041 11,459 ------------ ------------ Gross profit 146,388 67,924 Selling, general and administrative expense 249,236 140,153 ------------ ------------ Loss from operations (102,848) (72,229) ------------ ------------ Other income (expense): Interest income 230 211 Interest expense (17,431) (45,000) ------------ ------------ (17,201) (44,789) ------------ ------------ Loss before income taxes (120,049) (117,018) Income taxes -- -- ------------ ------------ Net loss $ (120,049) $ (117,018) ============ ============ Loss per common share $ (.01) $ (.01) ============ ============ Loss per common share assuming dilution $ (.01) $ (.01) ============ ============ Weighted average outstanding shares 15,527,750 15,527,750 ============ ============
See Notes to Condensed Financial Statements. 2 JURAK CORPORATION WORLD WIDE, INC. CONDENSED STATEMENTS OF CASH FLOWS (Unaudited)
Three Months Ended August 31 ------------------------------ 2000 1999 ------------ ------------ CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (120,049) $ (117,018) Depreciation 7,373 3,000 Changes in current assets and liabilities: Accounts receivable -- (970) Inventories 10,954 6,000 Accounts payable (2,776) (20,986) Accrued expenses 36,478 (3,945) Payable to stockholder, officer 68,965 137,262 ------------ ------------ Net cash provided by operating activities 945 3,343 CASH FLOWS FROM INVESTING AND OTHER ACTIVITIES: Purchase of equipment (589) (1,547) Other (231) (7,923) ------------ ------------ Net cash used in investing and other activities (820) (9,470) ------------ ------------ Net increase (decrease) in cash 125 (6,127) Cash and savings: Beginning of period 12,899 6,836 ------------ ------------ End of period $ 13,024 $ 709 ============ ============
See Notes to Condensed Financial Statements. 3 JURAK CORPORATION WORLD WIDE, INC. NOTES TO CONDENSED FINANCIAL STATEMENTS (Unaudited) Note 1. Condensed Financial Statements: The condensed balance sheet as of August 31, 2000, the statement of operations for the three-month periods ended August 31, 2000 and 1999, and the condensed statement of cash flows for the three-month periods then ended have been prepared by the Company, without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and changes in cash flows at August 31, 2000 and for all periods presented have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company's May 31, 2000 audited financial statements. The results of operations for the period ended August 31, 2000 are not necessarily indicative of the operating results for the full year. Note 2. Inventories: Inventories consist of the following: August 31, May 31, 2000 2000 ----------- ----------- Raw materials $ 16,900 $ 16,900 Finished goods 146,418 157,952 ----------- ----------- Totals $ 163,898 $ 174,852 =========== =========== Note 3. Stockholders' Equity (Deficit): During the three months ended August 31, 2000, stockholders' deficit changed for net loss of $120,049. 4 JURAK CORPORATION WORLD WIDE, INC. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The Company has continued to get revenue from sales of its products. There were sales of $158,429 during the three months ended August 31, 2000, compared to $79,383 for the same period in 1999. There were cost of sales of $12,041 in 2000, and cost of sales in 1999 was $11,459, for a gross profit of $146,388 in 2000, compared to a gross profit of $67,924 in 1999.. During the same period the Company expended general, administrative and pre-operating expenses of $140,153 in 1999 for a net loss of $117,018; in 2000 it expended general administrative expense of $249,236 for a net loss of $120,049. The general, administrative and pre-operating expenses included consulting expenses for Food and Drug Administration advice, computer consultants, hardware and software, raw materials, travel, office, telephone expenses, legal fees, Rent and wages. 5 PART II. OTHER INFORMATION Item 1. Legal Proceedings The Company is aware of no legal proceeding which is pending or threatened to which the Company is a party or of which its property is subject. Item 6. Exhibits and Reports on Form 8-K (b) No reports on Form 8-K were filed during the three months ended August 31, 2000. 6 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. JURAK CORPORATION WORLD WIDE, INC. Date October 16, 2000 By: /s/ Anthony Carl Jurak ------------------------------------- Anthony Carl Jurak Chairman of the Board and Director 7