-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, WHAOJ3Dl7txFH3FadsYTUfJgT5nF31ThKFd17WidFL/hyBNRmGNq3mrdwOcYC5TG SKOvmM5DYmPMAhdJRaqVUA== 0000897101-01-500149.txt : 20010416 0000897101-01-500149.hdr.sgml : 20010416 ACCESSION NUMBER: 0000897101-01-500149 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20010228 FILED AS OF DATE: 20010413 FILER: COMPANY DATA: COMPANY CONFORMED NAME: JURAK CORP WORLD WIDE INC CENTRAL INDEX KEY: 0001060888 STANDARD INDUSTRIAL CLASSIFICATION: FOOD & KINDRED PRODUCTS [2000] IRS NUMBER: 411906059 STATE OF INCORPORATION: MN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 333-61801 FILM NUMBER: 1602372 BUSINESS ADDRESS: STREET 1: 7115 BERMUDA CITY: LAS VEGAS STATE: NV ZIP: 89119 BUSINESS PHONE: 8005288911 MAIL ADDRESS: STREET 1: 7115 BERMUDA CITY: LAS VEGAS STATE: NV ZIP: 89119 10-Q 1 jurak010962_10q.txt JURAK CORPORATION FORM 10-Q 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 February 28, 2001 ------------------------------------------------- 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 April 16, 2001 - ---------- JURAK CORPORATION WORLD WIDE, INC. I N D E X Page ---- PART I. FINANCIAL INFORMATION Item 1. Financial Statements (Unaudited) Condensed Balance Sheets February 28, 2001 (Unaudited) and May 31, 2000 1 Statements of Income Three months ended February 28, 2001 (Unaudited) and Nine Months Ended February 28, 2001 and 2000 (Unaudited) 2 Condensed Statements of Cash Flows Nine months ended February 28, 2001 and 2000 (Unaudited) 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 I. FINANCIAL STATEMENTS JURAK CORPORATION WORLD WIDE, INC. CONDENSED BALANCE SHEETS February 28, May 31, ASSETS 2001 2000 ---- ---- (Unaudited) (Audited) Cash (including savings) $ 1,331 $ 12,899 Accounts receivable 188 488 Inventories 95,003 174,852 ----------- ----------- Total current assets 96,522 188,239 Property, plant and equipment - net 52,690 74,548 Other assets 102,200 65,959 ----------- ----------- $ 251,412 $ 328,746 =========== =========== LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Accounts payable $ 85,259 $ 29,159 Accrued expenses 168,548 63,534 Payable to stockholder, officer 1,223,734 1,079,674 ----------- ----------- Total current liabilities 1,477,541 1,172,367 STOCKHOLDERS' EQUITY (DEFICIT): Common stock 15,528 15,528 Additional paid-in capital 569,158 569,158 Accumulated deficit (1,810,815) (1,428,307) ----------- ----------- (1,226,129) (843,621) ----------- ----------- $ 251,412 $ 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 Nine Months Ended February 28 February 28 ----------- ----------- 2001 2000 2001 2000 ---- ---- ---- ---- Sales $ 276,553 $ 92,693 $ 663,284 $ 284,465 Cost of sales 38,159 7,044 83,910 33,565 ------------ ------------ ------------ ------------ Gross profit 238,394 85,649 579,374 250,900 Selling, general and administrative expense 331,688 173,452 908,257 534,890 ------------ ------------ ------------ ------------ Loss from operations (93,294) (87,803) (328,883) (283,990) ------------ ------------ ------------ ------------ Other income (expense): Interest income -- 223 460 640 Interest expense (18,500) (15,000) (54,085) (72,500) ------------ ------------ ------------ ------------ (18,500) (14,777) (53,625) (71,860) ------------ ------------ ------------ ------------ Loss before income taxes (111,794) (102,580) (382,508) (355,850) Income taxes -- -- -- -- ------------ ------------ ------------ ------------ Net loss $ (111,794) $ (102,580) $ (382,508) $ (355,850) ============ ============ ============ ============ Loss per common share $ (.01) $ (.01) $ (.02) $ (.02) ============ ============ ============ ============ Loss per common share assuming dilution $ (.01) $ (.01) $ (.02) $ (.02) ============ ============ ============ ============ Weighted average outstanding shares 15,527,750 15,527,750 15,527,750 15,527,750 ============ ============ ============ ============
See Notes to Condensed Financial Statements. 2 JURAK CORPORATION WORLD WIDE, INC. CONDENSED STATEMENTS OF CASH FLOWS (Unaudited)
Nine Months Ended February 28 ----------- 2001 2000 ---- ---- CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $(382,508) $(355,850) Depreciation 22,448 9,000 Changes in current assets and liabilities: Accounts receivable 300 (577) Inventories 79,849 26,925 Accounts payable 56,100 (12,710) Accrued expenses 105,014 (1,997) Payable to stockholder, officer 144,060 347,493 --------- --------- Net cash provided by operating activities 25,263 12,284 CASH FLOWS FROM INVESTING AND OTHER ACTIVITIES: Purchase of equipment (590) (3,150) Restricted cash (36,241) (12,847) --------- --------- Net cash used in investing and other activities (36,831) (15,997) CASH FLOWS FROM FINANCING ACTIVITIES: Issuance of common stock -- -- --------- --------- Net decrease in cash and savings (11,568) (3,713) Cash and savings: Beginning of period 12,899 6,836 --------- --------- End of period $ 1,331 $ 3,123 ========= =========
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 February 28, 2001, the statement of operations for the three-month and nine-month periods ended February 28, 2001 and 2000, and the condensed statement of cash flows for the nine-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 February 28, 2001 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 February 28, 2001 are not necessarily indicative of the operating results for the full year. Note 2. Inventories: Inventories consist of the following: February 28, May 31, 2001 2000 ---- ---- Raw materials $ 16,900 $ 16,900 Finished goods 78,103 157,952 ------------ ------------ Totals $ 95,003 $ 174,852 ============ ============ Note 3. Stockholders' Equity (Deficit): During the nine months ended February 28, 2001, stockholders' deficit changed for a net loss of $382,508. 4 JURAK CORPORATION WORLD WIDE, INC. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The Company has continued to increase its revenue from sales of its products. There were sales of $276,553 during the three months ended February 28, 2001, compared to $92,693 for the same period in 2000. There were cost of sales of $38,159 in 2001, and cost of sales in 2000 was $7,044, for a gross profit of $238,394 in 2001, compared to a gross profit of $85,649 in 2000. During the same period the Company expended selling, general, and administrative expenses of $173,452 in 2000 for a net loss of $102,580; in 2001 it expended selling, general and administrative expenses of $331,688 for a net loss of $111,794, and a net loss per share of $.01. The increase in selling, general and administrative expense was due to increased printing costs, two new employees, the purchase of new computer equipment and increased sales commissions. There were sales of $663,284 during the nine months ended February 28, 2001, compared to $284,465 for the same period in 2000. There were cost of sales of $83,910 in 2001, and cost of sales in 2000 was $33,565, for a gross profit of $579,374 in 2001, compared to a gross profit of $250,900 in 2000. During the same period the Company expended selling, general, and administrative expenses of $534,890 in 2000 for a net loss of $355,850; in 2001 it expended selling, general and administrative expenses of $908,257 for a net loss of $382,508, and a net loss per share of $.02. The increase in selling, general and administrative expense was due to increased printing costs, two new employees, the purchase of new computer equipment and increased sales commissions. 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 nine months ended February 28, 2001. 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: April 12, 2001 By: /s/ Anthony Carl Jurak Anthony Carl Jurak Chairman of the Board and Director -----END PRIVACY-ENHANCED MESSAGE-----