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PERK INTERNATIONAL INC.

(PRKI)
Delayed OTC Markets  -  03:30 2022-09-23 pm EDT
0.008000 USD   -20.00%
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PERK INTERNATIONAL INC. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (form 10-Q)

07/01/2022 | 01:33pm EDT

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.



Business Overview



General


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 medical issues.







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Our Objective


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
      the World.



To reach this objective we have hand-picked a team of industry professionals from experience

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%.

Other expense

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 payable.




Net loss

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.







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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 realized.

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.

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2022 - - -
Net income 2022 -0,17 M - -
Net Debt 2022 0,28 M - -
P/E ratio 2022 -5,13x
Yield 2022 -
Capitalization 1,82 M 1,82 M -
EV / Sales 2021 -
EV / Sales 2022 -
Nbr of Employees 1
Free-Float 14,2%
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Nelson W. Grist President, CEO, CFO, Secretary & Treasurer
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