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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Peak Pharmaceuticals Inc (PK) | USOTC:PKPH | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.55 | 1.56 | 2.59 | 0.00 | 01:00:00 |
Nevada
|
|
26-1973257
|
(State
or other jurisdiction of incorporation or
organization)
|
|
(I.R.S.
Employer Identification No.)
|
Large
accelerated filer
|
☐
|
Accelerated
filer
|
☐
|
Non-accelerated
filer
|
☐
|
Smaller
reporting company
|
☑
|
(Do not
check if a smaller reporting company)
|
Emerging
growth company
|
☐
|
|
Page
|
|
|
|
|
PART I.
FINANCIAL
INFORMATION
|
|
|
|
|
|
ITEM
1
|
Financial
Statements
|
3
|
|
|
|
|
Condensed
Consolidated Balance Sheets as of June 30, 2017 (unaudited) and
September 30, 2016
|
3
|
|
|
|
|
Condensed
Consolidated Statements of Operations for the Three and Nine Months
Ended June 30, 2017 and 2016 (unaudited)
|
4
|
|
|
|
|
Condensed
Consolidated Statements of Cash Flows for the Nine Months Ended
June 30, 2017 and 2016 (unaudited)
|
5
|
|
|
|
|
Notes
to Condensed Consolidated Financial Statements
(unaudited)
|
6
|
|
|
|
ITEM
2.
|
Management’s
Discussion and Analysis of Financial Condition and Results of
Operations
|
11
|
|
|
|
ITEM
3.
|
Quantitative
and Qualitative Disclosures about Market Risk
|
16
|
|
|
|
ITEM
4.
|
Controls
and Procedures
|
16
|
|
|
|
PART II.
OTHER
INFORMATION
|
|
|
|
|
|
ITEM
1.
|
Legal
Proceedings
|
17
|
|
|
|
ITEM
1A.
|
Risk
Factors
|
17
|
|
|
|
ITEM
2.
|
Unregistered
Sales of Equity Securities and Use of Proceeds
|
17
|
|
|
|
ITEM
3.
|
Defaults
Upon Senior Securities
|
17
|
|
|
|
ITEM
4.
|
Mine
Safety Disclosures
|
17
|
|
|
|
ITEM
5.
|
Other
Information
|
17
|
|
|
|
ITEM
6.
|
Exhibits
|
18
|
|
|
|
SIGNATURES
|
19
|
|
For the
Three Months Ended
|
For the
Nine Months Ended
|
||
|
June
30,
|
June
30,
|
||
|
2017
|
2016
|
2017
|
2016
|
Operating
expenses:
|
|
|
|
|
General
and administrative
|
$
14,037
|
$
9,836
|
$
21,350
|
$
185,833
|
Depreciation
and amortization
|
-
|
-
|
-
|
18,974
|
Stock
based compensation
|
-
|
-
|
-
|
(1,296,431
)
|
Total
operating expenses
|
14,037
|
9,836
|
21,350
|
(1,091,624
)
|
|
|
|
|
|
Operating
income (loss)
|
(14,037
)
|
(9,836
)
|
(21,350
)
|
1,091,624
|
|
|
|
|
|
Other
income expenses
|
|
|
|
|
Interest
expense
|
(598
)
|
-
|
(634
)
|
-
|
Change
in fair value of convertible debt
|
-
|
-
|
(5,000
)
|
-
|
Total
other expenses
|
(598
)
|
-
|
(5,634
)
|
-
|
|
|
|
|
|
Income
(loss) from continuing operations
|
(14,635
)
|
(9,836
)
|
(26,984
)
|
1,091,624
|
|
|
|
|
|
Income
from operations of discontinued Canna-Pet component (gain on
disposal of $80,903 for the nine months ended June 30,
2016)
|
-
|
-
|
-
|
74,706
|
|
|
|
|
|
Net
income (loss)
|
$
(14,635
)
|
$
(9,836
)
|
$
(26,984
)
|
$
1,166,330
|
|
|
|
|
|
Per
share information:
|
|
|
|
|
Basic
weighted average shares outstanding
|
78,363,562
|
78,363,562
|
78,363,562
|
78,363,562
|
Diluted
weighted average shares outstanding
|
78,363,562
|
78,363,562
|
78,363,562
|
80,372,603
|
|
|
|
|
|
Continuing
operations:
|
|
|
|
|
Net
income (loss) per share - basic and diluted
|
$
(0.00
)
|
$
0.00
|
$
(0.00
)
|
$
0.01
|
|
|
|
|
|
Discontinued
operations:
|
|
|
|
|
Net
income (loss) per share - basic and diluted
|
$
(0.00
)
|
$
0.00
|
$
(0.00
)
|
$
0.00
|
|
Number
of Options
|
|
Exercise
Price per
Share
|
|
Average
Remaining
Term
in
Years
|
|
Aggregate
Intrinsic
Value
at Date
of
Grant
|
|
|
|
|
|
|
|
|
Outstanding
October 1, 2015
|
7,416,000
|
|
$0.0067
- $0.20
|
|
|
|
-
|
Issued
|
-
|
|
|
|
|
|
-
|
Cancelled
|
(4,500,000)
|
|
|
|
|
|
-
|
Outstanding
June 30, 2017 and September 30, 2016
|
2,916,000
|
|
$0.0067
|
|
6.30
|
|
-
|
Exercisable
|
2,916,000
|
|
$0.0067
|
|
6.30
|
|
-
|
|
Number
of Options
|
|
Exercise
Price per
Share
|
|
Average
Remaining
Term
in
Years
|
|
Aggregate
Intrinsic
Value
at Date
of
Grant
|
|
|
|
|
|
|
|
|
Outstanding
June 30, 2017, September 30, 2016 and October 1, 2015
|
375,000
|
|
$0.0067
|
|
6.70
|
|
-
|
Exercisable
|
375,000
|
|
$0.0067
|
|
6.70
|
|
-
|
|
October
15, 2015
|
September
30, 2015
|
Inventory
|
$
45,436
|
$
41,705
|
Prepaid
Expenses
|
8,821
|
-
|
Deposits
|
8,179
|
8,678
|
Total
assets
|
$
62,436
|
$
50,383
|
|
|
|
Accounts
payable
|
103,548
|
124,396
|
Royalties
payable
|
39,506
|
39,506
|
Accrued
liabilities
|
285
|
15,341
|
Total
liabilities
|
143,339
|
179,243
|
Net assets
sold
|
$
80,903
|
$
128,860
|
|
Three
Months Ended June 30,
|
|
|
2017
|
2016
|
|
|
|
General and
administrative
|
$
14,037
|
$
9,836
|
Depreciation and
amortization
|
-
|
-
|
Stock based
compensation
|
-
|
-
|
Total operating
expenses
|
$
14,037
|
$
9,836
|
|
Nine
Months Ended June 30,
|
|
|
2017
|
2016
|
|
|
|
General and
administrative
|
$
21,350
|
$
185,833
|
Depreciation and
amortization
|
-
|
18,974
|
Stock based
compensation
|
-
|
(1,296,431
)
|
Total operating
expenses
|
$
21,350
|
$
(1,091,624
)
|
|
2017
|
2016
|
Revenues
|
$
-
|
$
-
|
Cost of goods
sold
|
-
|
-
|
General and
administrative expenses
|
-
|
-
|
Gain on disposal of
discontinued operations
|
-
|
74,706
|
|
$
-
|
$
74,706
|
|
June
30,
2017
|
September
30,
2016
|
Current
assets
|
$
9,303
|
$
1,304
|
Current
liabilities
|
177,746
|
142,762
|
Working capital
deficiency
|
$
(168,443
)
|
$
(141,458
)
|
|
Nine
Months Ended June 30,
|
|
|
2017
|
2016
|
Net income
(loss)
|
$
(26,984
)
|
$
1,174,208
|
Net cash provided
(used) in operating activities
|
(18,000
)
|
(200,081
)
|
Net cash used in
investing activities
|
-
|
-
|
Net cash provided
by financing activities
|
20,000
|
-
|
Increase (decrease)
in cash
|
$
2,000
|
$
(200,081
)
|
*
|
Filed herewith.
|
|
|
**
|
Furnished herewith. Pursuant to Rule 406T of Regulation S-T, the
Interactive Data Files on Exhibit 101 hereto are deemed not filed
or part of any registration statement or prospectus for purposes of
Sections 11 or 12 of the Securities Act of 1933, are deemed not
filed for purposes of Section 18 of the Securities and Exchange Act
of 1934, and otherwise are not subject to liability under those
sections.
|
By: /s/
Neil Reithinger
|
|
Neil
Reithinger
|
|
Chief
Executive Officer and Chief Financial Officer (Principal Executive
Officer, Principal Financial Officer and Principal Accounting
Officer)
|
|
Date:
September 12, 2017
|
|
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