UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 10-QSB
(Mark One)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended November 30, 2005
[ ] 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
-----------------------------------------------------
(Issuer's telephone number, including area code)
n/a
-----------------------------------------------------
(Former name, former address and former fiscal year,
If changed since last report)
Indicate by checkmark whether the registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act).
Yes _____ No __X__
State whether the issuer (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12
months (or for such shorter period that the issuer was required to file such
reports), and (2) has been subject to such filing requirements for the past 90
days.
Yes __X__ No _____
Applicable only to issuers involved in bankruptcy proceedings during the
preceding five years
N/A
Check whether the issuer filed all document required to be filed by Section 12,
13 and 15(d) of the Exchange Act after the distribution of securities under a
plan confirmed by a court.
Yes _____ No __X__
State the number of shares outstanding of each of the issuer's classes of common
equity as of the latest practicable date:
Class
Common Stock, .001 par value Outstanding as of January 19, 2006
32,767,267
Transitional Small Business Disclosure Format (check one)
Yes _____ No __X__
Pages
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements (Unaudited)
Condensed Balance Sheets
November 30, 2005 (Unaudited) and
May 31, 2005 (Audited) 3
Statements of Operations
Three and six months ended November 30,
2005 and 2004 (Unaudited) 4
Condensed Statements of Cash Flows
Six months ended November 30,
2005 and 2004 (Unaudited) 5
Selected Notes to Condensed Financial
Statements (Unaudited) 6 - 7
Item 2. Management's Discussion and Analysis of Financial
Condition and Results of Operations 8 - 11
Item 3. Controls and Procedures 11
PART II. OTHER INFORMATION
Item 1. Legal Proceeding 11
Item 2. Changes in Securities 11
Item 3. Defaults Upon Senior Securities 12
Item 4. Submission of Matters to a Vote of Security Holders 12
Item 5. Other Information 12
Item 6. Exhibits and Reports on Form 8-K
(a) Exhibits 12
(b) Reports on Form 8-K 12
Part I. FINANCIAL INFORMATION
Item I. FINANCIAL STATEMENTS
JURAK CORPORATION WORLD WIDE, INC.
BALANCE SHEETS
ASSETS NOVEMBER 30, MAY 31,
------ 2005 2005
(UNAUDITED) (AUDITED)
---------- -----------
CURRENT ASSETS:
Cash $ 15,282 $ 488
Accounts receivable 1,405 561
Inventories 83,293 104,194
Prepaid expenses 7,153 12,146
----------- -----------
Total current assets 107,133 117,389
RESTRICTED CASH 35,544 35,544
DEPOSITS 9,410 9,410
OFFICE FURNISHINGS AND EQUIPMENT, less
accumulated depreciation and amortization of $128,320 and $122,224 on
November 30, 2005 and May 31, 2005, respectively 20,880 26,976
----------- -----------
$ 172,967 $ 189,319
=========== ===========
LIABILITIES AND STOCKHOLDERS' DEFICIT
-------------------------------------
CURRENT LIABILITIES:
Checks issued in excess of bank balance $ 20,739 $ 7,241
Current portion of capital lease obligations 6,608 6,693
Accounts payable 298,917 253,780
Accrued compensation 251,450 268,280
Accrued royalties 1,150,736 900,736
Payable to stockholder, officer 1,320,299 1,345,813
----------- -----------
Total current liabilities 3,048,749 2,782,543
Capital lease obligations, net of current portion 3,281 6,442
----------- -----------
Total liabilities 3,052,030 2,788,985
----------- -----------
STOCKHOLDERS' DEFICIT:
Convertible preferred stock, par value $.001 per share,
50,000,000 shares authorized, none issued or outstanding -- --
Common stock, par value $.001 per share, 150,000,000 shares
authorized, 32,767,267 and 31,937,267 shares issued and outstanding
at November 30, 2005 and May 31, 2005, respectively 32,768 31,938
Additional paid-in capital 1,246,527 915,814
Accumulated deficit (4,158,358) (3,547,418)
----------- -----------
Total stockholders' deficit (2,879,063) (2,599,666)
----------- -----------
$ 172,967 $ 189,319
=========== ===========
The accompanying notes are an integral part of the unaudited financial
statements.
3
JURAK CORPORATION WORLD WIDE, INC.
STATEMENTS OF OPERATIONS
(UNAUDITED)
THREE MONTHS ENDED SIX MONTHS ENDED
NOVEMBER 30, NOVEMBER 30,
2005 2004 2005 2004
------------ ------------ ------------ ------------
Sales $ 356,494 $ 499,396 $ 763,461 $ 1,272,855
Cost of sales 85,922 106,026 169,101 291,390
------------ ------------ ------------ ------------
Gross profit 270,572 393,370 594,360 981,465
Selling, general and administrative expenses 488,290 409,187 1,153,370 996,080
------------ ------------ ------------ ------------
Loss from operations (217,718) (15,187) (559,010) (14,615)
------------ ------------ ------------ ------------
Other income (expense)
Interest expense (24,779) (33,507) (51,930) (69,939)
------------ ------------ ------------ ------------
Net loss $ (242,497) $ (49,324) $ (610,940) $ (84,554)
============ ============ ============ ============
Loss per common share - basic and diluted $ (.01) $ (.00) $ (.02) $ (.00)
============ ============ ============ ============
Weighted average common shares outstanding - basic and
diluted 32,588,970 31,467,581 32,265,163 31,368,127
============ ============ ============ ============
The accompanying notes are an integral part of the unaudited financial
statements.
4
JURAK CORPORATION WORLD WIDE, INC.
STATEMENTS OF CASH FLOWS
(UNAUDITED)
SIX MONTHS ENDED
NOVEMBER 30,
2005 2004
--------- ---------
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss $(610,940) $ (84,554)
Adjustments to reconcile net loss to net cash flows from operating activities:
Depreciation and amortization 6,096 6,177
Professional services paid via stock 171,720
Changes in operating assets and liabilities:
Accounts receivable (844) --
Inventories 20,901 23,939
Prepaid expenses 4,993 124,938
Deposits -- 16,144
Accounts payable 45,137 (152,275)
Accrued compensation and royalties 233,170 58,235
--------- ---------
Net cash used in operating activities (129,767) (7,396)
--------- ---------
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of office equipment -- (2,745)
--------- ---------
Net cash provided by investing activities -- (2,745)
--------- ---------
CASH FLOWS FROM FINANCING ACTIVITIES:
Checks issued in excess of bank balance 13,498 (53,248)
Stock issuance 159,823 40,000
Payments on capital lease obligations (3,246) (2,580)
Change in payable to stockholder, officer (25,514) 25,969
--------- ---------
Net cash provided by financing activities 144,561 10,141
--------- ---------
Increase in cash 14,794 --
Cash, beginning of period 488 --
--------- ---------
Cash, end of period $ 15,282 $ --
========= =========
The accompanying notes are an integral part of the unaudited financial
statements.
5
JURAK CORPORATION WORLD WIDE, INC.
NOTES TO CONDENSED FINANCIAL STATEMENTS
(Unaudited)
Note 1. Condensed Financial Statements:
The condensed balance sheet as of November 30, 2005, the statement
of operations for the three and six months ended November 30, 2005
and November 30, 2004, and the condensed statements 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, 2005 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,
2005 audited financial statements included in the Company's Annual
Report on 10-KSB. The results of operations for the interim three
and six-month periods ended November 30, 2005 are not necessarily
indicative of the operating results for the full year.
Note 2. Inventories:
Inventories consist of the following:
November 30, May 31,
2005 2005
-------------- --------------
Raw materials $ 17,871 $ 33,951
Finished goods 65,422 70,243
-------------- --------------
Totals $ 83,293 $ 104,194
============== ==============
Note 3. Stockholders' Deficit:
During the six months ended November 30, 2005 the Company sold
800,000 shares of common stock for $159,823. Also, as discussed in
Note 4 the Company received contributed capital of $165,000 from
the Company's CEO. In addition, on November 9, 2005 the Company
issued 30,000 shares of common stock in exchange for marketing
services valued at $6,720.
Note 4. Commitments and Contingencies:
On August 4, 2005, the Company entered into an agreement with a
consultant for financial consulting services. The agreement
stipulates compensation of $10,000 per month for the first 3
months. After 3 months compensation is calculated at 20% of new
business generated and capped at $10,000 per month. The agreement
also calls for a stock component where the Company's CEO and the
Company agree to sell 750,000 and 4,250,000, respectively, shares
of common stock to the consultant. The 750,000 shares were earned
upon signing the agreement. The fair market value of the stock
transferred of $165,000 has been reflected in selling, general and
administrative expenses for the six months ended November 30, 2005
and contributed capital as of November 30, 2005. The 4,250,000
shares of common stock will be earned based on revenue growth as
follows:
6
END OF SALES
PERIOD INCREASE IN SALES NUMBER OF SHARES EARNED
------------ ----------------- -----------------------
2/4/2006 $ 1,000,000 850,000
8/4/2006 3,000,000 850,000
8/4/2007 6,000,000 850,000
8/4/2008 12,000,000 850,000
8/4/2010 24,000,000 850,000
Shares will be sold on a prorata basis for each period. Any shares
not earned during a sales period will carryforward to the next
sales period.
Note 5. Company's Continued Existence:
The accompanying financial statements have been prepared in
conformity with accounting principles generally accepted in the
United States of America, which contemplate continuation of the
Company as a going concern. However, the Company has sustained
substantial accumulated losses totaling $4,158,358. At November
30, 2005 the Company's current liabilities exceeded current assets
by $2,941,616. Management believes that with improved growth
through new customers and continuing to lower operating expenses,
the Company can achieve a positive cash flow. In addition, we may
need to raise additional capital to meet long term operating
requirements.
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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATION
Statements made in this Form 10-QSB that are not historical or current
facts are "forward-looking statements" made pursuant to the safe harbor
provisions of Section 27A of the Securities Act of 1933 (the "Act") and Section
21E of the Securities Exchange Act of 1934. These statements often can be
identified by the use of terms such as "may," "will," "expect," "believe,"
"anticipate," "estimate," "approximate" or "continue," or the negative thereof.
The Company intends that such forward-looking statements be subject to the safe
harbors for such statements. The Company wishes to caution readers not to place
undue reliance on any such forward-looking statements, which speak only as of
the date made. Any forward-looking statements represent management's best
judgment as to what may occur in the future. However, forward-looking statements
are subject to risks, uncertainties and important factors beyond the control of
the Company that could cause actual results and events to differ materially from
historical results of operations and events and those presently anticipated or
projected. The Company disclaims any obligation subsequently to revise any
forward-looking statements to reflect events or circumstances after the date of
such statement or to reflect the occurrence of anticipated or unanticipated
events.
In addition, our business and operations are subject to substantial
risks, which increase the uncertainty inherent in such forward-looking
statements. In light of the significant uncertainties inherent in the
forward-looking information included herein, the inclusion of such information
should not be regarded as a representation by us or any other person that our
objectives or plans will be achieved. The Private Securities Litigation Reform
Act of 1995 contains a safe harbor for forward-looking statements on which we
rely in making such disclosure. In connection with this safe harbor we are
hereby identifying important factors that could cause actual results to differ
materially from those contained in any forward-looking statements made by or on
our behalf. Any such statement is qualified by reference to the cautionary
statements included in this Quarterly Report.
OVERVIEW
Jurak Corporation World Wide, Inc., a Minnesota corporation, currently
trades on the Over-the-Counter Bulletin Board under the symbol "JCWW". We are a
product-focused company specializing in the herbal supplement industry and
market. Our main product is the "Jurak Classic Whole Body Tonic", also known as
JC Tonic, which is an herbal supplemental blend of thirty different ingredients
comprised primarily of medicinal herbs. The Jurak Classic Whole Body Tonic was
first developed in 1943 by Carl Jurak, the father of the founder of our company.
The Jurak Classic Whole Body Tonic is marketed in a 42-ounce bottle; a 20-ounce
bottle, and a 1 oz mono-dose packaged as 35 doses in a box; all of which
constitute approximately 100% of the sales.
We distribute our products through a network marketing system using
independent distributors. Network marketing appeals to a wide cross-section of
people, particularly those seeking to supplement income, start a home-based
business or pursue entrepreneurial opportunities other than conventional
full-time employment. We consider our attractive compensation plan and cash
bonus pools to be attractive components of our network marketing system. We also
believe that our network marketing system is ideally suited to market herbal
supplement products because sales of such products are strengthened by ongoing
personal contact between our distributors and their customers. Distributors are
given the opportunity through sponsored events and raining sessions to network
with other distributors, develop selling skills and establish personal goals. We
supplement monetary incentives with other forms of recognition in order to
further motivate and foster an atmosphere of excitement through our distributor
network.
We have obtained trademark protection for the name "JC Tonic" within
the United States and within Canada. We also own the web sites www.jurak.com,
www.jctonic.com and www.tonicman.com.
RESULTS OF OPERATIONS
For the Three Month Period Ended November 30, 2005 Compared to the Three Month
Period Ended November 30, 2004.
We incurred a net loss of ($242,497) during the three-month period
ended November 30, 2005 compared to a net loss of ($49,324) incurred during the
three-month period ended November 30, 2004 (a decrease of $193,173).
During the three month period ended November 30, 2005, we generated
$356,494 in gross sales compared to $499,396 in gross sales during the three
month period ended November 30, 2004 (a decrease of $142,902). Cost of sales
decreased during the three month period ended November 30, 2005 to $85,922 from
$106,026 for the same period during 2004 (a decrease of $20,104). Therefore,
during the three month period ended November 30, 2005, gross profit was $270,572
compared to gross profit of $393,370 during the three month period ended
November 30, 2004 (a decrease of $122,798).
8
During the three month period ended November 30, 2005, we incurred
$488,290 in selling, general and administrative expense compared to $409,187 in
selling, general and administrative expense incurred during the three month
period ended November 30, 2004 (an increase of $79,103). Selling, general and
administrative expenses comprised our operating expenses and consisted of: (i)
$193,936 in selling expenses; and (ii) $294,354 in general and administrative
expenses. Interest expense of $24,779 was incurred during the three month period
ended November 30, 2005 compared to interest expense of $33,507 during the same
period in 2004. Therefore, during the three month period ended November 30,
2005, net loss was ($242,497) compared to a net loss of ($49,324) incurred
during the three month period ended November 30, 2004. Our management
anticipates that the profit margin will increase as we acquire new customers and
continue to lower our cost of sales and selling, general and administrative
expenses.
As a result of the above, the Company's net loss for the three month
period ended November 30, 2005 was approximately ($242,497) or ($0.007) per
share.
For the Six Month Period Ended November 30, 2005 Compared to the Six Month
Period Ended November 30, 2004.
We incurred a net loss of approximately ($610,940) during the six-month
period ended November 30, 2005 compared to a net loss of approximately ($84,554)
incurred during the six-month period ended November 30, 2004 (a decrease of
$526,386).
During the six month period ended November 30, 2005, we generated
$763,461 in gross sales compared to $1,272,855 in gross sales during the six
month period ended November 30, 2004 (a decrease of $509,394). Cost of sales
decreased during the six month period ended November 30, 2005 to $169,101 from
$291,390 for the same period during 2004 (a decrease of $122,289). Therefore,
during the six month period ended November 30, 2005, gross profit was $594,360
compared to gross profit of $981,465 during the six month period ended November
30, 2004 (a decrease of $387,105).
During the six month period ended November 30, 2005, we incurred
$1,153,370 in selling, general and administrative expenses compared to $996,080
in selling, general and administrative expenses incurred during the six month
period ended November 30, 2004 (a increase of $157,290). Selling, general and
administrative expenses comprised our operating expenses and consisted of: (i)
$397,406 in selling expenses; and (ii) $755,964 in general and administrative
expenses. Interest expense of $51,930 was incurred during the six month period
ended November 30, 2005 compared to interest expense of $69,939 during the same
period in 2004. Therefore, during the six month period ended November 30, 2005,
net loss was ($610,940) compared to a net loss of ($84,554) incurred during the
six month period ended November 30, 2004. Our management anticipates that the
profit margin will increase as we acquire new customers and continue to lower
our cost of sales and selling, general and administrative expenses.
As a result of the above, the Company's net loss for the six month
period ended November 30, 2005 was approximately ($610,940) or ($0.02) per
share.
LIQUIDITY AND CAPITAL RESOURCES
Six Month Period Ended November 30, 2005
We have historically had more expenses and cost of sales than revenue
in each year of our operations. The accumulated deficit as of November 30, 2005
was $4,158,358, and current liabilities are in excess of current assets.
Generally, we have financed operations to date through the proceeds of the
private placement of equity and debt securities and the generation of sales
revenue. In connection with our business plan, management anticipates that there
may be additional increases in working expenses and capital expenditures
relating to operating expenses. We intend to finance these expenses with further
issuances of our securities and revenues from operations. Therefore, we expect
we may need to raise additional capital and increase our revenues to meet
long-term operating requirements.
As of the six month period ended November 30, 2005, our current assets
were $107,133 and our current liabilities were $3,048,749, which resulted in a
working capital deficit of $2,941,616. As of the six month period ended November
30, 2005, our total assets were $172,967 consisting of: (i) $15,282 in cash and
cash equivalents; (ii) $1,405 in accounts receivable; (iii) $83,293 in
inventories; (iv) $7,153 in prepaid expenses; (v) $35,544 in restricted cash;
(vi) $9,410 in deposits; and (vii) $20,880 in net valuation of office
furnishings and equipment.
9
As of the six month period ended November 30, 2005, our total
liabilities were $3,052,030 consisting of: (i) $1,320,299 payable to
stockholder/officer; (ii) $1,150,736 in accrued royalties; (iii) $251,450 in
accrued compensation; (iv) $298,917 in accounts payable; (v) $9,889 in current
and long-term capital lease obligation; and (vi) $20,739 in checks issued in
excess of bank balance. See " - Material Commitments" below.
During the six month period ended November 30, 2005, net cash flows
used in operating activities was ($129,767) consisting primarily of a net loss
of ($610,940), which was adjusted by $6,096 for depreciation, $20,901 for
inventory, $45,137 in accounts payable, $4,993 in prepaid expenses, and $233,170
in accrued compensation and royalties and $171,720 in consulting expense.
During the six month period ended November 30, 2005, net cash flows
used in or from investing activities was $0.
During the six month period ended November 30, 2005, net cash flows
from financing activities was $144,561 consisting primarily of $159,823 in cash
received for issuance of common stock, which was adjusted by ($25,514) in
payments on notes payable- stockholder and ($3,246) in payments on capital lease
obligations.
PLAN OF OPERATION
As of the date of this Quarterly Report, we have generated revenue from
operations and continue to rely upon internally generated funds and advances,
funds from the sale of shares of stock and loans from our shareholders and
private investors to finance our operations and growth. Management anticipates a
possible increase in operating expenses and capital expenditures relating to its
business operations.
We may finance further expenditures with future issuances of our
restricted common stock. We believe that potential sales revenues and any
private placements of equity capital and debt financing, if successful, may be
adequate to fund our operations over the next year. We may encounter business
endeavors that require significant cash commitments or unanticipated problems or
expenses that could result in a requirement for additional cash before that
time. If we raise additional funds through the issuance of equity or convertible
debt securities other than to current shareholders, the percentage ownership of
our current shareholders would be reduced, and such securities might have
rights, preferences or privileges senior to our common stock. Additional
financing may not be available upon acceptable terms, or at all. If adequate
funds are not available or are not available on acceptable terms, we may not be
able to take advantage of potential marketing opportunities for its products,
which could significantly and materially restrict our business operations.
As of the date of this Quarterly Report, management believes that an
estimated $2,000,000 to $5,000,000 is required over the next two years for
payment of expenses associated with our ongoing business operations. Management
believes that we can satisfy our cash requirements for approximately the next
twelve months based on sales revenues, proceeds received from private placement
offerings, and our ability to obtain advances or equity private placements from
certain investors and other parties, as necessary.
As of the date of this Quarterly Report, there is substantial doubt
regarding our ability to continue as a going concern as we have not generated
sufficient cash flow to fund our business operations and material commitments.
We must raise additional capital. We have not generated sufficient cash flow in
the past to fund our operations and activities. Historically, we have relied
upon internally generated funds, funds from the sale of shares of stock and
loans from our shareholders and private investors to finance our operations and
growth. Our future success and viability are entirely dependent upon our current
management to generate revenues from our business operations and raise
additional capital through further private offerings of our stock or loans from
private investors. Management is optimistic that we will be successful in our
capital raising efforts. There can be no assurance, however, that we will be
able to generate sufficient revenues or raise additional capital. Our failure to
successfully generate sufficient revenues and/or raise additional capital will
have a material and adverse affect upon us and our shareholders.
10
MATERIAL COMMITMENTS
In connection with our business operations, we incurred liability or
borrowed funds pursuant to various contractual arrangements representing the
following material commitments.
Royalty Agreement
On approximately January 1, 1999, we and Jurak Holdings Limited, a
corporation organized under the laws of the Province of Alberta and an affiliate
of our Chief Executive Officer and a director (the "Jurak"), entered into an
intellectual property license agreement (the "License Agreement"). Pursuant to
the terms and provisions of the License Agreement, we are required to pay a
minimum royalty fee of $10,000 for fiscal year 1999, $10,000 for fiscal year
2000, $100,000 for fiscal year 2001, $200,000 for fiscal year 2002, and $500,000
for fiscal year 2003 and each calendar year thereafter during the first ten
years of the License Agreement (the "Minimum Royalty Fee"). Furthermore, in
addition to the Minimum Royalty Payment, we are required to pay a continuing
royalty fee of 8 percent of the net sales price of all license products sold
under the License Agreement (the "Continuing Royalty Fee") in excess of the
minimum royalty fee. As of the date of this Quarterly Report, the amounts of the
accrued royalties due and owing pursuant to the Minimum Royalty Fee and the
Continuing Royalty Fee are $750,000 and $400,736, respectively.
OFF-BALANCE SHEET ARRANGEMENTS
As of the date of this Quarterly Report, we do not have any off-balance
sheet arrangements that have or are reasonably like to have a current or future
effect on our financial condition, changes in financial condition, revenues or
expenses, results of operations, liquidity, capital expenditures or capital
resources that are material to investors. The term "off-balance sheet
arrangement" generally means any transaction, agreement or other contractual
arrangement to which an entity unconsolidated with us is a party, under which we
have: (i) any obligation arising under a guarantee contract, derivative
instrument or variable interest; or (ii) a retained or contingent interest in
assets transferred to such entity or similar arrangement that serves as credit,
liquidity or market risk support for such assets.
ITEM 3. CONTROLS AND PROCEDURES
We maintain disclosure controls and procedures (as defined in Rules
13a-15(e) and 15(d)-15(e) under the Securities Exchange Act of 1934, as amended
(the "Exchange Act")) that are designed to ensure that information required to
be disclosed in our reports under the Exchange Act, is recorded, processed,
summarized and reported within the time periods specified in the SEC's rules and
forms, and that such information is accumulated and communicated to our
management, including our Chief Executive Officer/Chief Financial Officer, as
appropriate, to allow timely decisions regarding required disclosure.
An evaluation was conducted under the supervision and with the
participation of our management, including our Chief Executive Officer/Chief
Financial Officer, of the effectiveness of the design and operation of our
disclosure controls and procedures as at November 30, 2005 pursuant to Rules
13a-15(b) and 15d-15(b) under the Exchange Act. Based on that evaluation, our
Chief Executive Officer/Chief Financial Officer has concluded that our
disclosure controls and procedures were effective as of such date to ensure that
information required to be disclosed in the reports we file or submit under the
Exchange Act is recorded, processed, summarized and reported within the time
period specified in Commission rules and forms.
There has been no change in our internal control over financial
reporting (as defined in Rules 13(a)-15(f) and 15(d)-15(f) under the Exchange
Act) during the three month period ended November 30, 2005 that has materially
affected, or is reasonably likely to materially affect, our internal control
over financial reporting.
PART II. OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS.
Not applicable.
ITEM 2. CHANGES IN SECURITIES.
During the six month period ended November 30, 2005 the Company
sold 800,000 shares of common stock for $159,823.
11
ITEM 3. DEFAULTS UPON SENIOR SECURITIES.
(a) Not Applicable.
(b) Not Applicable.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
Not Applicable.
ITEM 5. OTHER INFORMATION.
Not Applicable.
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.
(a) Exhibits.
31.1 Certification of Chief Executive Officer pursuant to
Securities Exchange Act of 1934, Rule 13a-14(a) or
15d-14(a).
31.2 Certification of Chief Financial Officer pursuant to
Securities Exchange Act of 1934, Rule 13a-14(a) or
15d-14(a).
32.1 Certification of Chief Executive Officer pursuant to
Securities Exchange Act of 1934, Rule 13a-14(b) or
15d-14(b) and 18 U.S.C. Section 1350, as adopted pursuant
to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2 Certification of Chief Financial Officer pursuant to
Securities Exchange Act of 1934, Rule 13a-14(b) or
15d-14(b) and 18 U.S.C. Section 1350, as adopted pursuant
to Section 906 of the Sarbanes-Oxley Act of 2002.
(b) Reports on Form 8-K
We have not filed Form 8-K during the quarter ended November 30, 2005.
12
SIGNATURE
In accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
JURAK CORPORATION WORLD WIDE, INC.
Date: January 19, 2005 By: /s/ Anthony Carl Jurak
-------------------------------------------
Anthony Carl Jurak
Chairman of the Board and Director
Chief Executive Officer and Chief Financial
Officer
13