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 November 30, 2001
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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
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JURAK CORPORATION WORLD WIDE, INC.
(Exact name of registrant as specified in its charter)
MINNESOTA 88-0407679
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(State or other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
1181 Grier Drive, Suite C, Las Vegas, NV 89119-3746
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(Address of principal executive offices)
(702) 914-9688
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(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 January 15, 2002
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JURAK CORPORATION WORLD WIDE, INC.
I N D E X
Page
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PART I. FINANCIAL INFORMATION
Item 1. Financial Statements (Unaudited)
Condensed Balance Sheets
November 30, 2001 (Unaudited) and
May 31, 2001 1
Statements of Operations
Three months ended November 30,
2001 (Unaudited) and Six Months
Ended November 30, 2001 and 2000 (Unaudited) 2
Condensed Statements of Cash Flows
Six months ended November 30,
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
November 30, May 31,
ASSETS 2001 2001
------------ ------------
(Unaudited) (Audited)
Cash (including savings) $ 27,807 $ 33,346
Accounts receivable 188 188
Inventories 95,882 91,861
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Total current assets 123,877 125,395
Property, plant and equipment - net 32,938 45,538
Other assets 99,544 99,544
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$ 256,359 $ 270,477
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LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Accounts payable $ 45,613 $ 23,678
Accrued expenses 234,238 164,373
Payable to related party 136,336 88,336
Payable to stockholder, officer 1,246,604 1,223,002
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Total current liabilities 1,662,791 1,499,389
STOCKHOLDERS' EQUITY (DEFICIT):
Common stock 15,528 15,528
Additional paid-in capital 569,158 569,158
Accumulated deficit (1,991,118) (1,813,598)
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(1,406,432) (1,228,912)
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$ 256,359 $ 270,477
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Note: The balance sheet at May 31, 2001 has been taken from the audited
financial statements at that date, and has been condensed.
See Notes to Condensed Financial Statements.
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JURAK CORPORATION WORLD WIDE, INC.
STATEMENTS OF OPERATIONS
(Unaudited)
Three Months Ended Six Months Ended
November 30 November 30
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2001 2000 2001 2000
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Sales $ 324,502 $ 228,302 $ 722,664 $ 386,731
Cost of sales 32,339 33,710 69,591 45,751
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Gross profit 292,163 194,592 653,073 340,980
Selling, general and administrative expense 402,216 327,333 787,251 576,569
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Loss from operations (110,053) (132,741) (134,178) (235,589)
------------ ------------ ------------ ------------
Other income (expense):
Interest income 40 230 40 460
Interest expense (21,032) (18,154) (43,382) (35,585)
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(20,992) (17,924) (43,342) (35,125)
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Loss before income taxes (131,045) (150,665) (177,520) (270,714)
Income taxes -- -- -- --
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Net loss $ (131,045) $ (150,665) $ (177,520) $ (270,714)
============ ============ ============ ============
Loss per common share $ (.01) $ (.01) $ (.01) $ (.01)
============ ============ ============ ============
Loss per common share assuming dilution $ (.01) $ (.01) $ (.01) $ (.01)
============ ============ ============ ============
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)
Six Months Ended
November 30
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2001 2000
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CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss $ (177,520) $ (270,714)
Depreciation 12,600 14,748
Changes in current assets and liabilities:
Accounts receivable -- 100
Inventories (4,021) 42,992
Accounts payable 21,935 11,610
Accrued expenses 69,865 81,071
Payable to related party 48,000 --
Payable to stockholder, officer 23,602 121,582
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Net cash provided by (used in) operating activities (5,539) 1,389
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of equipment -- (590)
Restricted cash -- (2,071)
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Net cash used in investing activities -- (2,661)
Net increase (decrease) in cash and savings (5,539) (1,272)
Cash and savings:
Beginning of period 33,346 12,899
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End of period $ 27,807 $ 11,627
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See Notes to Condensed Financial Statements.
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JURAK CORPORATION WORLD WIDE, INC.
NOTES TO CONDENSED FINANCIAL STATEMENTS
(Unaudited)
Note 1. Condensed Financial Statements:
The condensed balance sheet as of November 30, 2001, the statement of
operations for the three-month and six-month periods ended November 30,
2001 and 2000, and the condensed statement of cash flows for the
six-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
November 30, 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, 2001 audited financial statements. The results of operations
for the period ended November 30, 2001 are not necessarily indicative
of the operating results for the full year.
Note 2. Inventories:
Inventories consist of the following:
November 30, May 31,
2001 2001
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Raw materials $ 16,900 $ 16,900
Finished goods 78,982 74,961
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Totals $ 95,882 $ 91,861
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Note 3. Stockholders' Deficit:
During the six months ended November 30, 2001, stockholders' deficit
changed for net loss of $177,520.
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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 $324,502 during the three months ended November
30, 2001, compared to $228,302 for the same period in 2000. There were cost of
sales of $32,339 in 2001, and cost of sales in 2000 was $33,710, for a gross
profit of $292,163 in 2001, compared to a gross profit of $194,592 in 2000.
During the same period the Company expended selling, general, and administrative
expenses of $327,333 in 2000 for a net loss of $150,665; in 2001 it expended
selling, general and administrative expenses of $402,216 for a net loss of
$131,405. The net loss for both years was $.01 per share.
There were sales of $722,664 during the six months ended November 30,
2001, compared to $386,731 for the same period in 2000. There were cost of sales
of $69,591 in 2001, and cost of sales in 2000 was $45,751, for a gross profit of
$653,073 in 2001, compared to a gross profit of $340,980 in 2000. During the
same period the Company expended selling, general, and administrative expenses
of $576,569 in 2000 for a net loss of $270,714; in 2001 it expended selling,
general and administrative expenses of $787,251 for a net loss of $177,520. The
net loss for both years was $.01 per share.
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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 six months ended
November 30, 2001.
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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: January 15, 2002 By: /s/ Anthony Carl Jurak
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Anthony Carl Jurak
Chairman of the Board and Director
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