What changed in this filing

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Item 1. Financial Statements

2018-08-13 compared with 2018-05-14 · 93 added, 81 removed, 468 unchanged (27% of the section changed)

2 unchanged sentences

CONDENSED CONSOLIDATED BALANCE SHEETS

AS AT MARCH 31, 2018

AS OF JUNE 30, 2018

September 30,

6 unchanged sentences

Stockholders’

Deficit Preferred stock, $0.00001 par value, 25,000,000 authorized, none issued or outstanding

Common stock, $0.0001 par value, 325,000,000 shares authorized, 78,363,562 shares issued and outstanding, as of March 31, 2017 and September 30, 2017

Preferred stock, $0.00001 par value, 25,000,000 authorized, none issued or outstanding

Common stock, $0.0001 par value, 325,000,000 shares authorized, 78,363,562 shares issued and outstanding, as of June 30, 2018 and September 30, 2017

Additional paid in capital

2 unchanged sentences

Total Liabilities and Stockholders’

See the accompanying

notes to the condensed consolidated financial statements

The accompanying footnotes are an integral part

2 unchanged sentences

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

FOR THE THREE AND SIX MONTH PERIODS ENDED

MARCH 31, 2018 AND 2017

FOR THE THREE AND NINE MONTHS ENDED JUNE

30, 2018 AND 2017

For the Three Months Ended

For the Six Months Ended

For the Nine Months Ended

Operating expenses:

8 unchanged sentences

Net loss per share - basic and diluted

See the accompanying

notes to the condensed consolidated financial statements

The accompanying footnotes are an integral part

2 unchanged sentences

CONDENSED CONSOLIDATED STATEMENTS OF CASH

FOR THE SIX MONTH PERIODS ENDED MARCH 31,

2018 AND 2017

For the Six Months Ended

FOR THE NINE MONTHS ENDED JUNE 30, 2018 AND

For the Nine Months Ended

Cash flows from operating activities:

3 unchanged sentences

Accounts payable

Accounts payable - related parties

Disposal of discontinued operations

Accrued liabilities

9 unchanged sentences

Cash paid for income taxes

See the accompanying

notes to the condensed consolidated financial statements

The accompanying footnotes are an integral part

86 unchanged sentences

December 15, 2017, and interim periods within those fiscal years.

The Company is currently evaluating the impact of adopting this

The Company has determined that the adoption of this guidance

has no impact on its consolidated financial statements.

In January 2017, FASB issued

7 unchanged sentences

after December 15, 2017, including interim periods within those periods.

The Company is currently evaluating the impact of adopting

this guidance.

The Company has determined that the adoption of this guidance

has no impact on its consolidated financial statements.

On May 10, 2017, the Financial

9 unchanged sentences

Early adoption is permitted.

The Company is currently evaluating the impact of adopting this guidance.

The Company has determined that the adoption of this guidance has no

impact on its consolidated financial statements.

NOTE 2 –

1 unchanged sentence

LIQUIDITY PLANS

As of March 31, 2018, the

As of June 30, 2018, the

Company had an accumulated deficit of $5,077,511 and a working capital deficiency of $214,110.

During the quarters ended March

31, 2018 and 2017, the Company used cash in operating activities of $21,549 and $209, respectively.

These conditions raise substantial

doubt about the Company’s ability to continue as a going concern.

The Company recognizes it will need to raise additional

capital in order to fund operations and meet its payment obligations.

There is no assurance that additional financing will be available

when needed or that management will be able to obtain financing on terms acceptable to the Company and whether the Company will

generate revenues, become profitable and generate positive operating cash flow.

If the Company is unable to raise sufficient additional

funds on favorable terms, it will have to develop and implement a plan to further extend payables and to raise capital through

the issuance of debt or equity on less favorable terms until sufficient additional capital is raised to support further operations.

During the nine months ended June

30, 2018, the Company used cash in operating activities of $28,632.

As of June 30, 2018, the Company had cash of $17,359.

conditions raise substantial doubt about the Company’s ability to continue as a going concern.

The Company recognizes it

will need to raise additional capital in order to fund operations and meet its payment obligations.

There is no assurance that

additional financing will be available when needed or that management will be able to obtain financing on terms acceptable to the

Company and whether the Company will generate revenues, become profitable and generate positive operating cash flow.

If the Company

is unable to raise sufficient additional funds on favorable terms, it will have to develop and implement a plan to further extend

payables and to raise capital through the issuance of debt or equity on less favorable terms until sufficient additional capital

is raised to support further operations.

There can be no assurance that such a plan will be successful.

17 unchanged sentences

fees and salaries.

Included in accounts payable at March 31, 2018 are amounts

Included in accounts payable at June 30, 2018 are amounts

totaling $47,877 (December 31, 2017 $47,877) owed to related parties.

21 unchanged sentences

20% discount to the closing price of the common stock on the date of the lender’s notice of conversion, subject to a floor

The Company recorded a loss on the notes of $5,000 during the quarter ended March 31, 2017 based on the fair value of

On May 11, 2018, the agreement had been amended to extend the maturing date of the note from March 30, 2018 to March

4 unchanged sentences

The note matures in 180 days on July 10, 2018.

As of July 9, 2018, the loan was extended to July 10, 2019.

Loan with Individual

On April 2, 2018, the Company

entered into an agreement with an individual.

Pursuant to the terms of the agreement, we received a promissory note in the amount

The note is due and payable in full on October 2, 2018 and it accrues interest at a rate of 12% per annum.

Total accrued interest

on the above notes was $3,049 as of March 31, 2018 (December 31, 2017 $1,844) and is reflected in accrued liabilities on the accompanying

on the above notes was $4,336 as of June 30, 2018 (March 31, 2018 $3,049) and is reflected in accrued liabilities on the accompanying

balance sheet.

2 unchanged sentences

We had no preferred or

common stock transactions during the six-month period ended March 31, 2018 and 2017.

common stock transactions during the nine-month period ended June 30, 2018 and 2017.

NOTE 6 –

No stock options were granted

during the quarters ended March 31, 2018 and 2017.

during the quarters ended June 30, 2018 and 2017.

The following is a summary

of outstanding stock options issued to employees and directors as of March 31, 2018:

of outstanding stock options issued to employees and directors as of June 30, 2018:

Exercise Price per

Outstanding September 30, 2017 and March 31, 2018

The following is a summary of outstanding stock

options issued to non-employees, excluding directors, as of March 31, 2018:

Outstanding September 30, 2017 and June 30, 2018

The following is a summary

of outstanding stock options issued to non-employees, excluding directors, as of June 30, 2018:

Exercise Price per

Outstanding September 30, 2017 and March 31, 2018

Outstanding September 30, 2017 and June 30, 2018

There was no equity-based

compensation for the six months ended March 31, 2018 and 2017.

NOTE 7 - SUBSEQUENT EVENT

On April 2, 2018, subsequent

to the period, we received a promissory note from an individual in the amount of $20,000.

The note is due and payable in full on

October 2, 2018 and it accrues interest at a rate of 12% per annum.

compensation for the nine months ended June 30, 2018 and 2017.

Management’s

122 unchanged sentences

of Canna-Pet products for all periods through and including September 30, 2015.

· Collections:

On October 15, 2015, we forwarded to the Licensor all payments received by us after

14 unchanged sentences

Recent Corporate Developments

Since the commencement

of the year through March 31, 2018, we have received two promissory notes.

One for $23,000 on December 31, 2017, as well as a $20,000

promissory note on April 2, 2018, subsequent to the end of the quarter.

Since the commencement of the year through

June 30, 2018, we received two promissory notes.

One promissory note was for $23,000 on January 10, 2018 and the other was for

$20,000 on April 2, 2018.

Loan Agreements

24 unchanged sentences

The note matures in 180 days, on July 10, 2018.

Loan with Individual

On April 2, 2018, the

Company entered into an agreement with an individual.

Pursuant to the terms of the agreement, we received a promissory note in

the amount of $20,000.

The note is due and payable in full on October 2, 2018 and it accrues interest at a rate of 12% per annum.

Total accrued interest

on the above notes was $4,336 as of June 30, 2018 (March 31, 2018 $3,049) and is reflected in accrued liabilities on the accompanying

balance sheet.

of Operations

of the Three Months Ended March 31, 2018 to the Three Months Ended March 31, 2017

of the Three Months Ended June 30, 2018 to the Three Months Ended June 30, 2017

No revenue or cost of sales were generated for

the three months ended March 31, 2018 or March 31, 2017 due to the overall reduction in operations of the business.

Our expenses for the three months ended

March 31, 2018 are summarized as follows in comparison to our expenses for the three months ended March 31, 2017:

Three Months Ended March 31,

the three months ended June 30, 2018 or June 30, 2017 due to the overall reduction in operations of the business.

Our expenses for the three months ended June

30, 2018 are summarized as follows in comparison to our expenses for the three months ended June 30, 2017:

Three Months Ended June 30,

General and administrative

3 unchanged sentences

General and administrative

expense increased by $2,755 for the three months ended March 31, 2018 from the comparative period of 2017 due to an increase in

audit and accounting fees.

Depreciation and amortization expense, as well as stock-based compensation were $0 for the three months

ended March 31, 2018 and March 31, 2017.

of the Six Months Ended March 31, 2018 to the Six Months Ended March 31, 2017

expense decreased by $11,039 for the three months ended June 30, 2018 from the comparative period of 2017 due to the scaling down

Depreciation and amortization expense, as well as stock-based compensation were $0 for the three months ended June

30, 2018 and June 30, 2017.

of the Nine Months Ended June 30, 2018 to the Nine Months Ended June 30, 2017

No revenue or cost of sales were generated for

the six months ended March 31, 2018 or for the six months ended March 31, 2017.

Our expenses for the six

months ended March 31, 2018 are summarized as follows in comparison to our expenses for the six months ended March 31, 2017:

Six Months Ended March 31,

the nine months ended June 30, 2018 or for the nine months ended June 30, 2017.

Our expenses for the nine

months ended June 30, 2018 are summarized as follows in comparison to our expenses for the nine months ended June 30, 2017:

Nine Months Ended June 30,

General and administrative

3 unchanged sentences

General and administrative

expense increased by $7,897 for the six months ended March 31, 2018 from the comparative period of 2017, due to an overall increase

in accounting and audit fees for the six months, to keep the Company current with their filings.

Depreciation and amortization

expense as well as stock-based compensation were $0.

Six Months ended March 31,

expense decreased by $3,142 for the nine months ended June 30, 2018 from the comparative period of 2017, due to an overall decrease

in business operations.

Depreciation and amortization expense as well as stock-based compensation were $0.

Nine Months ended June 30,

Interest Expense

2 unchanged sentences

Interest expense increased

from $36 to $1,808 for the six months ended March 31, 2018 from the comparative period of 2017 due to the start date of the notes,

which were on March 30, 2017 and March 21, 2017.

from $634 to $3,094 for the nine months ended June 30, 2018 from the comparative period of 2017 due to additional accrued interest

on the notes.

Liquidity and Financial

Working Capital Deficiency

September 30,

Current assets

2 unchanged sentences

The increase in current

assets is mainly due to the receipt of a promissory note during the six months ended March 31, 2018.

assets is mainly due to the receipt of a promissory note during the nine months ended June 30, 2018.

The increase in current liabilities

is due to transfer agent, filing and accounting fees incurred for the six-month period ending March 31, 2018.

Six Months Ended March 31,

is due to transfer agent, filing and accounting fees incurred for the nine-month period ending June 30, 2018.

Nine Months Ended June 30,

Net income (loss)

3 unchanged sentences

Increase (decrease) in cash

As of March 31, 2018, our

As of June 30, 2018, our

cash balance was $17,359.

2 unchanged sentences

Net cash used in operations

for the six months ended March 31, 2018 was $21,549 mainly due to the net loss incurred for the period as well as the payment of

open invoices.

for the nine months ended June 30, 2018 was $28,632 mainly due a decrease in accounts payable.

We need to raise additional

1 unchanged sentence

Although the expenses of our operations have been significantly reduced due to the termination

of the license agreement as outline in Note 3 of the financial statements, we need to still evaluate raising additional capital

of the license agreement as outlined in Note 3 of the financial statements, we need to still evaluate raising additional capital

through the sale of equity securities, through an offering of debt securities or through borrowings from individuals.

8 unchanged sentences

financial statements contained in this report have been prepared assuming that the Company will continue as a going concern.

Company has cumulative net losses through March 31, 2018 of $5,073,105, as well as negative cash flows of $21,549 from operating

The Company's cash and cash equivalents balance as of March 31, 2018 is $4,442.

Company has cumulative net losses through June 30, 2018 of $5,077,511, as well as negative cash flows of $28,632 from operating

The Company's cash and cash equivalents balance as of June 30, 2018 is $17,359.

These factors raise substantial doubt

29 unchanged sentences

Our significant accounting

policies are more fully described in the notes to our financial statements included herein for the six months ended March 31, 2018.

policies are more fully described in the notes to our financial statements included herein for the nine months ended June 30, 2018.

Newly Issued Accounting Pronouncements

See Note 1 to our financial

statements included herein for the six months ended March 31, 2018 for a discussion of Recently Issued Accounting Pronouncements.

statements included herein for the nine months ended June 30, 2018 for a discussion of Recently Issued Accounting Pronouncements.

and Qualitative Disclosures about Market Risk

1 unchanged sentence

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements