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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Profit Planners Management Inc (CE) | USOTC:PPMT | 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% | 0.0001 | 0.00 | 01:00:00 |
Large accelerated filer
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Accelerated filer
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Non-accelerated filer
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Smaller reporting company
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PART I
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Page
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Item 1.
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Condensed Consolidated Financial Statements
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1 |
Condensed Consolidated Balance Sheets as of August 31, 2013 and May 31, 2013 (Unaudited)
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1
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Condensed Consolidated Statements of Operations and Comprehensive Income for the three months ended August 31, 2013 and 2012 (Unaudited)
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2
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Condensed Consolidated Statements of Cash Flows for the three months ended August 31, 2013 and 2012 (Unaudited)
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3
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Notes to the Condensed Consolidated Financials (Unaudited)
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4
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Item 2.
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Management’s Discussion and Analysis or Plan of Operation
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6
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Item 3.
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Quantitative and Qualitative Disclosures About Market Risk
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10
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Item 4T
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Controls and Procedures
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10
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PART II
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||
Item 1.
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Legal Proceedings
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11
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Item 1A.
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Risk Factors
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11
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Item 2.
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Unregistered Sales of Equity Securities and Use of Proceeds
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11
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Item 3.
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Defaults Upon Senior Securities
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11
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Item 4.
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Submission of Matters to a Vote of Security Holders
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11
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Item 5.
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Other Information
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11
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Item 6.
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Exhibits
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12
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SIGNATURES
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13
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(Unaudited)
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August 31, 2013
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May 31, 2013
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|||||||
Assets
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||||||||
Current Assets:
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||||||||
Cash
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$ | 109,655 | $ | 127,984 | ||||
Accounts receivable (net of allowance of $26,977 and $0, respectively)
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114,707 | 93,432 | ||||||
Other current assets
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18,430 | 22,411 | ||||||
Total current assets
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242,792 | 243,827 | ||||||
Property and Equipment:
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||||||||
Property and equipment
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18,067 | 11,522 | ||||||
Less: Accumulated depreciation
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(3,954 | ) | (2,494 | ) | ||||
Net property and equipment
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14,113 | 9,028 | ||||||
Total Assets
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$ | 256,905 | $ | 252,855 | ||||
Liabilities and Stockholders' Deficit
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||||||||
Current liabilities:
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||||||||
Accounts payable and accrued expenses
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$ | 47,869 | $ | 35,873 | ||||
Accounts payable and accrued expenses - related parties
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38,650 | 35,650 | ||||||
Accrued expenses - officer's compensation
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249,891 | 218,641 | ||||||
Deferred revenue
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25,858 | 51,250 | ||||||
Total Liabilities
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362,268 | 341,414 | ||||||
Stockholders' Deficit
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||||||||
Preferred stock - $.001 par value; 50,000,000 shares authorized; none and none issued and outstanding
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- | - | ||||||
Common stock - $.001 par value; 500,000,000 shares authorized; 53,737,972 and 50,562,972 shares issued and outstanding, respectively
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53,737 | 50,562 | ||||||
Common stock - $.001 par value; 314,816 shares subscribed not issued
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314 | 314 | ||||||
Additional paid-in capital
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259,813 | 154,904 | ||||||
Less: Amount due from subscriber under subscription agreement
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(28,334 | ) | (28,334 | ) | ||||
Accumulated deficit
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(390,893 | ) | (266,005 | ) | ||||
Net Stockholders' Deficit
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(105,363 | ) | (88,559 | ) | ||||
Total Liabilities And Stockholders' Deficit
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$ | 256,905 | $ | 252,855 |
Three
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Three
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|||||||
Months Ended
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Months Ended
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|||||||
August 31, 2013
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August 31, 2012
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|||||||
Revenues
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$ | 188,883 | $ | 250,800 | ||||
Cost of revenue
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148,058 | 124,519 | ||||||
Gross Profit
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40,825 | 126,281 | ||||||
Operating expenses:
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||||||||
Development expenses
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33,685 | - | ||||||
Officer's compensation
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33,594 | 26,287 | ||||||
Consulting and professional expenses
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29,708 | 6,800 | ||||||
Other operating expenses
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68,726 | 34,441 | ||||||
Total operating expenses
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165,713 | 67,528 | ||||||
Net (Loss) Income and Comprehensive (Loss) Income
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$ | (124,888 | ) | $ | 58,753 | |||
Basic and diluted net (loss) income per weighted-average shares common stock
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$ | (0.00 | ) | $ | 0.00 | |||
Weighted-average number of shares of common stock to be issued and outstanding - basic
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51,657,809 | 50,407,416 | ||||||
Weighted-average number of shares of common stock to be issued and outstanding - diluted
|
51,657,809 | 51,077,788 |
Three
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Three
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|||||||
Months Ended
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Months Ended
|
|||||||
August 31, 2013
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August 31, 2012
|
|||||||
Net cash (used in) provided by operating activities
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$ | (82,284 | ) | $ | 106,961 | |||
|
||||||||
Net cash used in investing activities
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(6,545 | ) | - | |||||
Net cash provided by financing activities
|
70,500 | - | ||||||
Net change in cash
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(18,329 | ) | 106,961 | |||||
Cash, beginning of period
|
127,984 | 80,537 | ||||||
Cash, end of period
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$ | 109,655 | $ | 187,498 |
·
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CFO, Accounting and Tax Services
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·
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Insurance and Healthcare Insurance Services
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|
·
|
Organic Innovations, Inc.
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|
·
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Management Services
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·
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www.profitplannersmgt.com
|
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·
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www.organicinnovations.com
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|
·
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www.organicallycrafted.com
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·
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www.twinpeaksplus.com
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Exhibit Number
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Description of Exhibit
|
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31.1
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Certifications required by Rule 13a-14, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
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32.1
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Certification of Chief Executive Officer and Principal Accounting Officer pursuant to 18 U.S.C.§ 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
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PROFIT PLANNERS MANAGEMENT, INC
.
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/s/ Wesley Ramjeet
|
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October 15, 2013
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Wesley Ramjeet
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Chief Executive Officer, Chief Financial Officer and Director
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1 Year Profit Planners Management (CE) Chart |
1 Month Profit Planners Management (CE) Chart |
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