-----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, IKZUyVX3co6XDj224QsZXOUgXiEC0Xqi4VXVoYssRZ6WfRnJkeyU7FQqTWMcxDH0 DpOGsSrsfCr3aqcqcugmQw== 0000897101-02-000701.txt : 20021015 0000897101-02-000701.hdr.sgml : 20021014 20021015095856 ACCESSION NUMBER: 0000897101-02-000701 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20020831 FILED AS OF DATE: 20021015 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: 1934 Act SEC FILE NUMBER: 333-61801 FILM NUMBER: 02788364 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 jurak024889_10q.txt JURAK CORPORATION WORLD WIDE, INC. FORM 10Q 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, 2002 ------------------------------------------------- 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 15, 2002 - ---------- 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, 2002 (Unaudited) and May 31, 2002 1 Statements of Operations Three months ended August 31, 2002 and 2001 (Unaudited) 2 Condensed Statements of Cash Flows Three months ended August 31, 2002 and 2001 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 August 31, May 31, ASSETS 2002 2002 ---------- ---------- (Unaudited) (Audited) Cash (including savings) $ 286 $ -- Inventories 53,050 99,628 ----------- ------------ Total current assets 53,336 99,628 Property, plant and equipment - net 11,638 18,638 Other assets 99,544 99,544 ----------- ------------ $ 164,518 $ 217,810 =========== ============ LIABILITIES AND STOCKHOLDERS' DEFICIT Checks issued in excess of bank balance $ 26,688 $ 10,423 Accounts payable 72,344 57,474 Accrued compensation 329,163 286,563 Payable to related party 163,336 148,336 Payable to stockholder, officer 1,323,090 1,314,920 ----------- ------------ Total current liabilities 1,914,621 1,817,716 STOCKHOLDERS' DEFICIT: Common stock 15,528 15,528 Additional paid-in capital 569,158 569,158 Accumulated deficit (2,334,789) (2,184,592) ------------ ------------- (1,750,103) (1,599,906) ------------ ------------- $ 164,518 $ 217,810 =========== ============ Note: The balance sheet at May 31, 2002 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 ----------------------------- 2002 2001 ------------ ------------ Sales $ 549,378 $ 398,162 Cost of sales 116,575 37,252 ------------ ------------ Gross profit 432,803 360,910 Selling, general and administrative expense 556,717 385,035 ------------ ------------ Loss from operations (123,914) (24,125) ------------ ------------ Other income (expense): Interest income 10 -- Interest expense (26,293) (22,350) ------------ ------------ (26,283) (22,350) ------------ ------------ Loss before income taxes (150,197) (46,475) Income taxes -- -- ------------ ------------ Net loss $ (150,197) $ (46,475) ============ ============ 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 ----------------------- 2002 2001 --------- --------- CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $(150,197) $ (46,475) Depreciation 7,000 6,300 Changes in current assets and liabilities: Inventories 46,578 (17,161) Accounts payable 14,870 20,040 Accrued expenses 42,600 20,947 Payable to related parties 23,170 37,542 --------- --------- Net cash provided by used in operating activities (15,979) 21,193 CASH FLOWS FROM FINANCING ACTIVITIES: Checks issued in excess of bank balance 16,265 -- --------- --------- Net increase in cash 286 21,193 Cash and savings: Beginning of period -- 33,346 --------- --------- End of period $ 286 $ 54,539 ========= =========
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, 2002, the statement of operations for the three-month periods ended August 31, 2002 and 2001, 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, 2002 and for all periods presented have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America 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, 2002 audited financial statements. The results of operations for the period ended August 31, 2002 are not necessarily indicative of the operating results for the full year. Note 2. Inventories: Inventories consist of the following: August 31, May 31, 2002 2002 ---------- ---------- Raw materials $ 15,000 $ 16,287 Finished goods and supplies 38,050 83,341 ---------- ---------- Totals $ 53,050 $ 99,628 ========== ========== Note 3. Stockholders' Deficit: During the three months ended August 31, 2002, stockholders' deficit changed for net loss of $150,197. 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 $549,378 during the three months ended August 31, 2002, compared to $398,162 for the same period in 2001. There were cost of sales of $116,575 in 2002, and cost of sales in 2001 was $37,252; for a gross profit of $432,803 in 2002, compared to a gross profit of $360,910 in 2000. The cost of sales rose in the last year because the price of the ingredients of the product doubled, and because the Company changed to more pure botanicals. During the same period the Company expended selling, general, and administrative expenses of $556,717 in 2002 for a net loss of $150,197; in 2001 it expended selling, general and administrative expenses of $385,035 for a net loss of $46,475. The net loss in both years was $.01 per share. The selling, general and administrative expenses increased because of the addition of 5 call centers, increased computer expense with updated software, royalties, television advertising, and promotional campaigns. SIGNIFICANT ACCOUNTING POLICIES The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the dates of the financial statements and reported amounts of revenues and expenses during the reporting periods. The Company's significant accounting policies are described in Note 1 to the financial statements for the year ended May 31, 2002. The accounting policies used in preparing our interim 2003 financial statements are the same as those described in May 31, 2002 financial statements. The most significant estimates and assumptions relate to the valuation of inventory and the liability for the stock bonus plan. Actual amounts could differ from these estimates. Inventory Valuation Inventories consist primarily of raw materials, finished goods and supplies and are valued at the lower of cost or market (first-in, first-out method). Stock Bonus Plan Distributors are awarded points based on sales which will be redeemable for shares of the Company. The amount of the liability for this plan at August 31, 2002 is approximately $130,000. 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, 2002. 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 15, 2002 By: /s/ Anthony Carl Jurak ------------------------------ Anthony Carl Jurak Chairman of the Board and Director 7 CERTIFICATION PURSUANT TO 18 U.S.C.ss.1350 In connection with the Quarterly Report of Jurak Corporation World Wide, Inc. (the "Company") on Form 10-QSB for the period ended August 31, 2002 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), the undersigned, in the capacities listed below, hereby certifies, pursuant to 18 U.S.C. ss.1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that: (i) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and (ii) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. October 15, 2002 By /s/ Anthony Jurak ------------------------ Anthony Jurak President, Chief Executive Officer and Principal Accounting Officer -----END PRIVACY-ENHANCED MESSAGE-----