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, 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
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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 October 18, 2001
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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
August 31, 2001 (Unaudited) and
May 31, 2001 1
Statements of Operations
Three months ended August 31,
2001 and 2000 (Unaudited) 2
Condensed Statements of Cash Flows
Three months ended August 31,
2001 and 2000 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
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Item I. FINANCIAL STATEMENTS
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JURAK CORPORATION WORLD WIDE, INC.
CONDENSED BALANCE SHEETS
August 31, May 31,
ASSETS 2001 2001
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(Unaudited) (Audited)
Cash (including savings) $ 54,539 $ 33,346
Accounts receivable 188 188
Inventories 109,022 91,861
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Total current assets 163,749 125,395
Property, plant and equipment - net 39,238 45,538
Other assets 99,544 99,544
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$ 302,531 $ 270,477
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LIABILITIES AND STOCKHOLDERS' DEFICIT
Accounts payable $ 43,718 $ 23,678
Accrued compensation 185,320 164,373
Payable to related party 112,336 88,336
Payable to stockholder, officer 1,236,544 1,223,002
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Total current liabilities 1,577,918 1,499,389
STOCKHOLDERS' DEFICIT:
Common stock 15,528 15,528
Additional paid-in capital 569,158 569,158
Accumulated deficit (1,860,073) (1,813,598)
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(1,275,387) (1,228,912)
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$ 302,531 $ 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
August 31
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2001 2000
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Sales $ 398,162 $ 158,429
Cost of sales 37,252 12,041
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Gross profit 360,910 146,388
Selling, general and administrative expense 385,035 249,236
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Loss from operations (24,125) (102,848)
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Other income (expense):
Interest income -- 230
Interest expense (22,350) (17,431)
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(22,350) (17,201)
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Loss before income taxes (46,475) (120,049)
Income taxes -- --
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Net loss $ (46,475) $ (120,049)
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Loss per common share $ (.01) $ (.01)
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Loss per common share assuming dilution $ (.01) $ (.01)
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Weighted average outstanding shares 15,527,750 15,527,750
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See Notes to Condensed Financial Statements.
2
JURAK CORPORATION WORLD WIDE, INC.
CONDENSED STATEMENTS OF CASH FLOWS
(Unaudited)
Three Months Ended
August 31
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2001 2000
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CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss $ (46,475) $(120,049)
Depreciation 6,300 7,373
Changes in current assets and liabilities:
Inventories (17,161) 10,954
Accounts payable 20,040 (2,776)
Accrued expenses 20,947 36,478
Payable to related parties 37,542 68,965
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Net cash provided by operating activities 21,193 945
CASH FLOWS FROM INVESTING AND OTHER ACTIVITIES:
Purchase of equipment -- (589)
Other -- (231)
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Net cash used in investing and other activities -- (820)
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Net increase in cash 21,193 125
Cash and savings:
Beginning of period 33,346 12,899
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End of period $ 54,539 $ 13,024
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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 August 31, 2001, the statement
of operations for the three-month periods ended August 31, 2001
and 2000, 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, 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 August
31, 2001 are not necessarily indicative of the operating results
for the full year.
Note 2. Inventories:
Inventories consist of the following:
August 31, May 31,
2001 2001
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Raw materials $ 16,900 $ 16,900
Finished goods 92,122 74,961
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Totals $ 109,022 $ 91,861
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Note 3. Stockholders' Deficit:
During the three months ended August 31, 2001, stockholders'
deficit changed for net loss of $46,475.
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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 $398,162 during the three months ended August 31,
2001, compared to $158,429 for the same period in 2000, approximately 2.5 times
the sales in the prior year. There were cost of sales of $37,252 in 2001, and
cost of sales in 2000 was $12,041; for a gross profit of $360,910 in 2001,
compared to a gross profit of $146,388 in 2000. During the same period the
Company expended selling, general, and administrative expenses of $385,035 in
2001 for a net loss of $46,475; in 2000 it expended selling, general and
administrative expenses of $249,236 for a net loss of $120,049. The net loss in
both years was $.01 per share.
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PART II. OTHER INFORMATION
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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, 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 October 18, 2001 By: /s/ Anthony Carl Jurak
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Anthony Carl Jurak
Chairman of the Board and Director
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