PERK INTERNATIONAL INC. 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
Our Objective
It is the objective of
1. Grow and distribute high grade, certified natural and organic ingredients.
2. Own processing facilities to dry biomass, extract hemp oil and refine to
pharmaceutical grade CBD oils.
3. Provide international wholesale distribution of natural and organic health
care products with and without CBD.
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To reach this objective we have hand-picked a team of industry professionals from experienced hemp farmers, bioengineers, extraction experts and other related industry professionals.
Our ultimate objective is to achieve exceptional multiples in growth, valuation
and revenue to
Results of Operation for the Three Months Ended
General and administrative
For the three months ended
Other expense
For the three months ended
Net loss
For the three months ended
Results of Operation for the Six Months Ended
General and administrative
For the six months ended
Other expense
For the six months ended
Net loss
For the six months ended
Liquidity and Capital Resources
For the six months ended
Critical Accounting Estimates and Policies
The preparation of financial statements in conformity with accounting principles
generally accepted in
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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.
Off-Balance Sheet Arrangements
We have not entered into any off-balance sheet arrangements that have or are reasonably likely 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 and would be considered material to investors.
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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