The following information should be read in conjunction with our financial
statements and related notes thereto included in Part I, Item 1, above.
Forward Looking Statements
Certain matters discussed herein are forward-looking statements. Such
forward-looking statements contained in this Form 10-Q involve risks and
uncertainties, including statements as to:
· our future strategic plans;
· our future operating results;
· our business prospects;
· our contractual arrangements and relationships with third parties;
· the dependence of our future success on the general economy;
· our possibility of not successfully raising future financings; and
· the adequacy of our cash resources and working capital.
These forward-looking statements can generally be identified as such because the
context of the statement will include words such as we "believe," "anticipate,"
"expect," "estimate" or words of similar meaning. Similarly, statements that
describe our future plans, objectives or goals are also forward-looking
statements. Such forward-looking statements are subject to certain risks and
uncertainties which are described in close proximity to such statements and
which could cause actual results to differ materially from those anticipated.
Shareholders, potential investors and other readers are urged to consider these
factors in evaluating the forward-looking statements and are cautioned not to
place undue reliance on such forward-looking statements. The forward-looking
statements included herein are only made as of the date of this Form 10-Q, and
we undertake no obligation to publicly update such forward-looking statements to
reflect subsequent events or circumstances.
Perk International, Inc. is an acquisition, sales management company for early
stage, high growth businesses and technologies in the health care industry. The
Company has developed specific criteria and standards that must be met by each
acquisition candidate. Once identified, the Company will have access to highly
seasoned and well-trained team of industry professionals to perform thorough due
diligence on the potential acquisition partner. Following successful due
diligence, Perk International, Inc. We will be able to consult with M & A
advisors to structure and present an attractive proposal to the selling entity.
Perk International, Inc., now feels very comfortable in entering the rapidly
growing health care market. It is estimated that Holistic and other natural and
organic ingredients are believed to provide many medical benefits. It has been
reported that Holistic and Natural Ingredients may be able to treat hundreds of
It is the objective of Perk International, Inc. to control every aspect of the
natural and organic farming industry from growth to extraction and distribution.
This will enable us to avoid risking stagnant or contaminated biomass because of
third party extraction labs being at full capacity.
Perk International, Inc., has designed its future into a 3-stage rollout:
1. Grow and distribute high grade, certified natural and organic ingredients.
2. Own or invest in facilities to manufacturer skincare and supplements
3. Provide international wholesale distribution of natural and organic health
care products and acquire and open Med Spa's through the United States and
To reach this objective we have hand-picked a team of industry professionals
Our ultimate objective is to achieve exceptional multiples in growth, valuation
and revenue to Perk International, "Inc. and its shareholders.
Results of Operation for the Three Months Ended August 31, 2021 compared to the
Three Months Ended August 31, 2020
General and administrative
For the three months ended August 31, 2021 we incurred $13,619 of general and
administrative expense ("G&A") compared to $22,474 for the three months ended
August 31, 2020, a decrease of $8,855 or 39.4%.
For the three months ended August 31, 2021, we had interest expense of $3,138
compared to $2,065 for the three months ended August 31, 2020. The increase in
interest expense is due to the accrual of interest on our loans and notes
For the three months ended August 31, 2021 the Company had a net loss of $16,757
as compared to $24,539 in the prior period.
Liquidity and Capital Resources
For the three months ended August 31, 2021 we used $21,378 in operations
compared to $4,644 in the prior period.
For the three months ended August 31, 2021, we neither used nor received cash
from financing activities, compared to $4,644 received from a related party in
the prior period.
Critical Accounting Estimates and 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 of the date
of the financial statements and the reported amounts of revenues and expenses
during the reporting period. Note 2 to the Financial Statements describes the
significant accounting policies and methods used in the preparation of the
Financial Statements. Estimates are used for, but not limited to, contingencies
and taxes. Actual results could differ materially from those estimates. The
following critical accounting policies are impacted significantly by judgments,
assumptions, and estimates used in the preparation of the Financial Statements.
We are subject to various loss contingencies arising in the ordinary course of
business. We consider the likelihood of loss or impairment of an asset or the
incurrence of a liability, as well as our ability to reasonably estimate the
amount of loss in determining loss contingencies. An estimated loss contingency
is accrued when management concludes that it is probable that an asset has been
impaired or a liability has been incurred and the amount of the loss can be
reasonably estimated. We regularly evaluate current information available to us
to determine whether such accruals should be adjusted.
We recognize deferred tax assets (future tax benefits) and liabilities for the
expected future tax consequences of temporary differences between the book
carrying amounts and the tax basis of assets and liabilities. The deferred tax
assets and liabilities represent the expected future tax return consequences of
those differences, which are expected to be either deductible or taxable when
the assets and liabilities are recovered or settled. Future tax benefits have
been fully offset by a 100% valuation allowance as management is unable to
determine that it is more likely than not that this deferred tax asset will be
Recent Accounting Pronouncements
The Company has implemented all new accounting pronouncements that are in
effect. These pronouncements did not have any material impact on the financial
statements unless otherwise disclosed, and the Company does not believe that
there are any other new accounting pronouncements that have been issued that
might have a material impact on its financial position or results of operations.
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