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Item 5. Market for Registrant’s Common Equity

2022-12-19 compared with 2022-12-19 · 93 added, 42 removed, 187 unchanged (42% of the section changed)

MARKET FOR REGISTRANTS COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

shares of common stock are quoted on the OTC Markets, Pink Tier, under the symbol PKPH. On December 16, 2022, the closing

price of our common stock reported by the OTC Markets was $0.044 per share.

shares of common stock are quoted on the OTC Markets, Pink Tier, under the symbol PKPH. On December 16, 2022, the closing price

of our common stock reported by the OTC Markets was $0.044 per share.

transfer agent and registrar for our common stock is Securities Transfer Corporation, 2901 North Dallas Parkway, Suite 380, Plano, Texas

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statements expressing general optimism about future operating results, and non-historical information, are forward looking statements.

In particular, the words believe, expect, intend, anticipate, estimate,

may, variations of such words, and similar expressions identify forward-looking statements, but are not the exclusive means

of identifying such statements, and their absence does not mean that the statement is not forward-looking.

These forward-looking statements

are subject to certain risks and uncertainties, including those discussed below.

Our actual results, performance or achievements could

differ materially from historical results as well as those expressed in, anticipated, or implied by these forward-looking statements.

We do not undertake any obligation to revise these forward-looking statements to reflect any future events or circumstances.

In particular, the words believe, expect, intend, anticipate, estimate, may,

variations of such words, and similar expressions identify forward-looking statements, but are not the exclusive means of identifying

such statements, and their absence does not mean that the statement is not forward-looking.

These forward-looking statements are subject

to certain risks and uncertainties, including those discussed below.

Our actual results, performance or achievements could differ materially

from historical results as well as those expressed in, anticipated, or implied by these forward-looking statements.

We do not undertake

any obligation to revise these forward-looking statements to reflect any future events or circumstances.

should not place undue reliance on these forward-looking statements, which are based on managements current expectations and projections

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Plan of Operation (MD&A), unless otherwise noted.

All the GAAP financial measures used by us in this report relate to the

inclusion of financial information.

This discussion and analysis should be read in conjunction with our financial statements and the

notes thereto included elsewhere in this annual report.

All references to dollar amounts in this section are in United States dollars,

unless expressly stated otherwise.

All the GAAP financial measures used by us in this report relate to the inclusion

of financial information.

This discussion and analysis should be read in conjunction with our financial statements and the notes thereto

included elsewhere in this annual report.

All references to dollar amounts in this section are in United States dollars, unless expressly

stated otherwise.

Please see our Risk Factors for a list of our risk factors.

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condition and operating performance, our overall business strategy and our financial results for the periods covered.

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

The Company had cumulative net losses through September 30, 2020 of $5,113,498, as well as negative cash flows of $119 from operating

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

The Company had cumulative net losses through September 30, 2019 of $5,098,487, as well as negative cash flows of $1,743 from operating activities.

The Companys cash and cash equivalents balance as of September 30, 2019 was $527.

These factors raise substantial doubt

about the Companys ability to continue as a going concern.

These factors raise substantial doubt about the Companys ability to continue as a going concern.

we will actively seek to identify sources of liquidity, there are no assurances that such additional sources of liquidity can be obtained

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as a going concern.

Furthermore, our going concern and lack of commercial operations may make it more difficult for us

to raise funds.

Furthermore, our going concern and lack of commercial operations may make it more difficult for us to

consolidated financial statements do not include any adjustments that may be necessary should the Company be unable to continue as a

going concern.

The Companys continuation as a going concern is dependent on its ability to obtain additional financing as may

be required and ultimately to attain profitability.

The Companys continuation as a going concern is dependent on its ability to obtain additional financing as may be

required and ultimately to attain profitability.

If the Company raises additional funds through the issuance of equity, the percentage

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decrease in general and administrative expenses for the year ended September 30, 2019, compared to the year ended September 30, 2018

of $149 is due primarily to a decrease in accounting fees.

of $22,139 is due to a decrease in accounting fees as well as filing fees.

Years ended September 30,

Interest Expense

Change in fair value of convertible debt

Total other expenses

expense increased by $1,167 for the year ended September 30, 2020 from the comparative period of 2019 due to the increase in interest

rate to 15% on the Companys notes payable due to the default rate provisions.

expense increased from $5,584 to $8,309 for the year ended September 30, 2019 from the comparative period of 2018 due to additional accrued

interest on the notes.

The change in fair value of convertible debt of $(5,000) during the year ended September 30, 2018 was the result

of remeasurement of the companys convertible notes payable.

and Capital Resources

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Working capital

decrease in current assets of $119 is mainly due to a decrease in cash from the payment of outstanding bills during the year ended September

The increase in current liabilities of $14,892 is due primarily to an increase in accounts payable and accrued expenses.

decrease in current assets of $1,743 is mainly due to a decrease in cash from the payment of outstanding bills during the year ended

September 30, 2019.

The increase in current liabilities of $12,250 is primarily due to accrued interest on two promissory notes issued

during the year ended September 30, 2018.

following table sets forth a summary of changes in cash flows for the years ended September 30, 2019 and 2018:

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Net cash used in operating activities

Net cash provided by financing activities

Change in cash

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to meet its financial needs for continuing operations over the next twelve months.

cash used in operations for the year ended September 30, 2020 was $119 due primarily to the net loss that was incurred during the year.

cash used in operations for the year ended September 30, 2019 was $1,743 mainly due to the net loss that was incurred during the year.

cash provided by financing for the year ended September 30, 2018 was $43,000 from two promissory notes received during the year.

may need to evaluate raising additional capital through the sale of equity securities, through an offering of debt securities or through

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Issued Accounting Pronouncements

August 5, 2020, the FASB issued Accounting Standards Update (ASU) 2020-06, Debt—Debt with Conversion and Other Options (Subtopic

470-20) and Derivatives and Hedging—Contracts in Entitys Own Equity (Subtopic 815-40 , which simplifies the accounting

for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on

an entitys own equity.

The ASUs amendments are effective for public business entities that are not smaller reporting companies

for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years.

For all other entities, the amendments

are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years.

The guidance may be

early adopted for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years.

The Company has determined

that the adoption of this guidance has no impact on its consolidated financial statements.

December 2019, the FASB issued ASU No.

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the adoption of this guidance had no impact on its consolidated financial statements.

May 2014, the FASB issued ASU, 2014-09—

Revenue from Contracts with Customers (Topic 606) , or ASU 2014-09, and further updated

through ASU 2016-12, or ASU 2016-12, which amends the existing accounting standards for revenue recognition.

ASU 2014-09 is based on

principles that govern the recognition of revenue at an amount to which an entity expects to be entitled to when products are transferred

to customers.

This guidance is effective for annual reporting periods, and interim periods within those years, beginning after December

15, 2017 for public entities, and after December 15, 2018 for non-public entities.

The new revenue standard may be applied retrospectively

to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption.

The Company adopted

ASU 2014-09 on October 1, 2018 and has determined that the adoption of this guidance had no impact on its consolidated

financial statements.

February 2016, the FASB issued ASU No.

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no impact on its consolidated financial statements.

April 2016, the FASB issued ASU 2016 –

10 Revenue from Contracts with Customers:

identifying Performance Obligations

and Licensing .

The amendments in this Update clarify the two following aspects (a) contracts with customers to transfer goods

and services in exchange for consideration and (b) determining whether an entitys promise to grant a license provides a customer

with either a right to use the entitys intellectual property (which is satisfied at a point in time) or a right to access the

entitys intellectual property (which is satisfied over time).

The amendments in this Update are intended to reduce the degree

of judgement necessary to comply with Topic 606.

Public business entities will adopt the standard for annual reporting periods beginning

after December 15, 2017, including interim periods within that year.

The Company adopted ASU 2016-10 on October 1, 2018

and has determined that the adoption of this guidance had no impact on its consolidated financial statements.

August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230) Classification of Certain Cash Receipts and Cash

The new guidance is intended to reduce diversity in practice in how certain transactions are classified in the statement

of cash flows.

ASU 2016-15 is effective for the Company beginning in the first quarter of fiscal 2019.

Early adoption is permitted, provided

that all of the amendments are adopted in the same period.

The guidance requires application using a retrospective transition method.

The Company adopted ASU 2016-15 on October 1, 2018 and has determined that the adoption of this guidance had no impact on its consolidated

financial statements.

January 2017, FASB issued ASU 2017-01, Business Combinations (Topic 805) Clarifying the Definition of a Business .

The amendments in this Update is to clarify the definition of a business with the objective of adding guidance to assist entities with

evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses.

The definition of a business

affects many areas of accounting including acquisitions, disposals, goodwill, and consolidation.

The guidance is effective for annual

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

The Company adopted ASU 2017-01 on

October 1, 2018 and has determined that the adoption of this guidance had no impact on its consolidated financial statements.

May 10, 2017, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU)

2017-09 Compensation—Stock Compensation (Topic 718):

Scope of Modification Accounting , which provides guidance

to clarify when to account for a change to the terms or conditions of a share-based payment award as a modification.

Under the new guidance,

modification accounting is required only if the fair value, the vesting conditions, or the classification of the award (as equity or

liability) changes as a result of the change in terms or conditions.

The guidance is effective prospectively for all companies for annual

periods beginning on or after December 15, 2017.

Early adoption is permitted.

The Company adopted ASU 2017-09 on October 1, 2018

and has determined that the adoption of this guidance had no impact on its consolidated financial statements.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

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-K

Item 5. Market for Registrant’s Common Equity