UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-QSB/A
(Amendment No. 1)
[ X ] Quarterly Report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
For the period ended February 28, 2007
[ ]Transition Report pursuant to 13 or 15(d) of the Securities Exchange Act
of 1934
For the transition period to
Commission File Number 333-139773
K-9 Concepts, Inc.
___________________________________________________
Exact name of Small Business Issuer as specified in its
charter)
Nevada Pending
_____________________________ _____________________________
(State or other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
6250 King's Lynn Street
Vancouver, British Columbia, Canada
V5S 4V5
________________________________________ ____________________
(Address of principal executive offices) (Postal or Zip Code)
Issuer's telephone number, including area code: 604-618-2888
N/A
(Former name, former address and former fiscal year, if changed since
last report)
Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12
months (or for such shorter period that the issuer was required to file such
reports), and (2) has been subject to such filing requirements for the past 90
days Yes [ X ] No [ ]
Indicate by check mark whether the registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act). Yes [ ] No [X ]
State the number of shares outstanding of each of the issuer's classes of common
stock, as of the latest practicable date: 6,400,000 shares of common stock with
par value of $0.001 per share outstanding as of April 16, 2007.
EXPLANATORY REASON FOR AMEMENDMENT:
The Company has never been a "Shell" status and the box was checked wrongly. The Box "NO" is now properly checked.
<PAGE>
K-9 CONCEPTS, INC.
(A development stage Company)
FINANCIAL STATEMENTS
February 28, 2007
(Stated in US Dollars)
(Unaudited)
BALANCE SHEETS
STATEMENTS OF OPERATIONS
STATEMENTS OF CASH FLOWS
NOTES TO THE FINANCIAL STATEMENTS
<PAGE>
<TABLE>
<CAPTION>
K-9 CONCEPTS, INC.
(A DEVELOPMENT STAGE COMPANY)
BALANCE SHEETS
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
February 28,
August 31,
2007
2006
ASSETS (Unaudited) (Audited)
CURRENT ASSETS
Cash $ 15,965 $ 16,826
Other receivable 96 96
TOTAL ASSETS $ 16,061 $ 16,922
Commitments and Contingencies (Note 1)
STOCKHOLDERS' EQUITY
Common stock
Authorized:
75,000,000, par value $0.001 per share
Issued and outstanding:
6,400,000 common shares
(August 31, 2006 - 6,400,000 common shares) 6,400 6,400
Additional paid in capital 25,600 22,600
Deficit accumulated during the development stage (15,939) (12,078)
TOTAL STOCKHOLDERS' EQUITY $ 16,061 $ 16,922
</TABLE>
The accompanying notes are an integral part of these financial statements.
<PAGE>
<TABLE>
<CAPTION>
K-9 CONCEPTS, INC.
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF OPERATIONS
(UNAUDITED)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Three Months Three Months Six Months Six Months August 25, 2005
Ended Ended Ended Ended
(Date of Inception)
February 28, February 28, February 28, February 28,
to February 28,
2007 2006 2007 2006
2007
EXPENSES
Bank charges $ 44 $ - $ 87 $ -
$ 311
Filing and transfer 750 - 750 - 750
agent fees
Management fees 1,500 - 3,000 - 6,000
Marketing - - - - 1,626
Professional fees - - - - 4,348
Travel and entertainment 24 - 24 - 2,904
Net loss $ (2,318) $ - $ (3,861) $ - $ (15,939)
BASIC AND DILUTED $ (0.00) $ (0.00) $ (0.00) $ (0.00)
LOSS PER SHARE
WEIGHTED AVERAGE
NUMBER OF SHARES 6,400,000 - 6,400,000 -
OUTSTANDING
</TABLE>
The accompanying notes are an integral part of these financial statements.
<PAGE>
<TABLE>
<CAPTION>
K-9 CONCEPTS, INC.
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF CASH FLOWS
(UNAUDITED)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Six Six
August 25, 2005
Months Months (Date of
Ended
Ended
Inception) to
February
February
February
28, 2007
28, 2006
28, 2007
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss $ (3,861) $ -
$ (15,939)
Non-cash item:
Donated services 3,000 - 6,000
Changes in non-cash operating
working capital item:
Other receivable - - (96)
Net cash used in operations (861) - (10,035)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuance of common shares - - 26,000
Net cash provided by financing - - 26,000
activities
NET INCREASE (DECREASE) IN CASH (861) - 15,965
CASH, BEGINNING 16,826 - -
CASH, ENDING $ 15,965 $ -
$ 15,965
SUPPLEMENTAL CASH FLOW DISCLOSURE:
CASH PAID FOR:
Interest $ - $ -
$ -
Income taxes $ - $ -
$ -
</TABLE>
The accompanying notes are an integral part of these financial statements.
<PAGE>
K-9 CONCEPTS, INC.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS
FEBRUARY 28, 2007
(UNAUDITED)
NOTE 1. NATURE AND CONTINUANCE OF OPERATIONS
K-9 Concepts, Inc. ("the Company") was incorporated under the laws of
State of Nevada on August 25, 2005. The Company is in the business of
marketing and distribution of showerhead and related accessories. The
Company is considered to be a development stage company and has not
generated any significant revenues from operations.
Going concern
The accompanying financial statements have been prepared assuming the
Company will continue as a going concern. As of February 28, 2007, the
Company has a working capital of $16,061, has not yet achieved profitable
operations and has accumulated a deficit of $15,939 since inception. Its
ability to continue as a going concern is dependent upon the ability of
the Company to obtain the necessary financing to meet its obligations and
pay its liabilities arising from normal business operations when they
come due. The outcome of these matters cannot be predicted with any
certainty at this time and raise substantial doubt that the Company will
be able to continue as a going concern. These financial statements do not
include any adjustments to the amounts and classification of assets and
liabilities that may be necessary should the Company be unable to
continue as a going concern. Management believes that the Company has
adequate funds to carry on operations for the upcoming fiscal year.
Unaudited Interim Financial Statements
The accompanying unaudited interim financial statements have been
prepared in accordance with United States generally accepted accounting
principles for interim financial information and with the instructions to
Form 10-QSB of Regulation S-B. They may not include all information and
footnotes required by United States generally accepted accounting
principles for complete financial statements. However, except as
disclosed herein, there has been no material changes in the information
disclosed in the notes to the financial statements for the year ended
August 31, 2006 included in the Company's Form SB-2 filed with the
Securities and Exchange Commission. The interim unaudited financial
statements should be read in conjunction with those financial statements
included in the Form SB-2. In the opinion of Management, all adjustments
considered necessary for a fair presentation, consisting solely of normal
recurring adjustments, have been made. Operating results for the six
months ended February 28, 2007 are not necessarily indicative of the
results that may be expected for the year ending August 31, 2007.
NOTE 2. RELATED PARTY TRANSACTIONS
The Company recognized donated services by directors of the Company for
management fees, valued at $500 per month, totaling $3,000 for the six
months ended to February 28, 2007 ($Nil for the six months ended February
28, 2006). These transactions were recorded at the exchange amount which
is the amount agreed to by the related parties.
NOTE 3. INCOME TAXES
At February 28, 2007, the Company has accumulated non-capital losses
totaling $15,939, which are available to reduce taxable income in
future taxation years. These losses expire beginning 2026. The
potential benefit of those losses, if any, has not been recorded in the
financial statements as these losses are not likely to be realized.
<PAGE>
FORWARD-LOOKING STATEMENTS
This Form 10-QSB includes "forward-looking statements" within the meaning of the
"safe-harbor" provisions of the Private Securities Litigation Reform Act of
1995. Such statements are based on management's current expectations and are
subject to a number of factors and uncertainties that could cause actual results
to differ materially from those described in the forward-looking statements.
All statements other than historical facts included in this Form, including
without limitation, statements under "Plan of Operation", regarding our
financial position, business strategy, and plans and objectives of management
for the future operations, are forward-looking statements.
Although we believe that the expectations reflected in such forward-looking
statements are reasonable, it can give no assurance that such expectations will
prove to have been correct. Important factors that could cause actual results
to differ materially from our expectations include, but are not limited to,
market conditions, competition and the ability to successfully complete
financing.
ITEM 2. PLAN OF OPERATION
The success of our business plan depends on the strength of national and local
new residential construction, home improvement and remodelling markets. Future
downturns in new residential construction and home improvement activity may
result in intense price competition among building materials suppliers, which
may adversely affect our intended business.
The building products distribution industry is subject to cyclical market
pressures and most impacted by changes in the demand for new homes and in
general economic conditions that impact the level of home improvements. Our
business success depends on anticipating changes in consumer preferences and on
successful new product and process development and product re-launches in
response to such changes. Consumer preferences for our products shift due to a
variety of factors that affect discretionary spending, including changes in
demographic and social trends and downturn in general economic conditions.
The building materials distribution industry is extremely fragmented and
competitive. Our competition varies by product line, customer classification
and geographic market. The principal competitive factors in our industry are
pricing and availability of product, service and delivery capabilities, ability
to assist with problem-solving, customer relationships, geographic coverage and
breadth of product offerings. We compete with many local, regional and national
building materials distributors and dealers.
Separate showers and baths have also become de rigueur in many households and
increasingly a major component in the Personal Healthcare industry segment.
Showers have morphed into vertical spas and the use of multiple shower heads is
also growing in popularity, often with multiple sprays for each head.
We are positioning ourselves to take advantage of current market and industry
trends for the Personal Healthcare segment; including an increased emphasis on a
personal health care lifestyle and an increased emphasis on spending time at
home or "cocooning". Consumers in this industry segment wish to remain active
and seek personal health care products to maintain a high quality of life. These
"baby boomers" typically have more discretionary income, which are more likely
spent on home remodelling projects (including projects to improve their pools
and spas).
We intend to develop our retail network by initially focusing our marketing
efforts on larger chain stores that sell various types of shower heads, such as
Home Depot. These businesses sell more shower heads, have a greater budget for
in-stock inventory and tend to purchase a more diverse assortment of shower
heads.
<PAGE>
In 2007, we anticipate expanding our retail network to include small to medium
size retail businesses whose businesses focus is limited to the sale of bathroom
accessories. Any relationship we arrange with retailers for the wholesale
distribution of our shower heads will be non-exclusive. Accordingly, we will
compete with other shower head vendors for positioning of our products in retail
space.
Even if we are able to receive an order commitment, some larger chains will only
pay cash on delivery and will not advance deposits against orders. Such a policy
may place a financial burden on us and, as a result, we may not be able to
deliver the order. Other retailers may only pay us 30 or 60 days after delivery,
creating an additional financial burden.
We intend to retain one full-time sales person in the next six months, as well
as an additional full-time sales person in the six months thereafter. These
individuals will be independent contractors compensated solely in the form of
commission based upon sales they arrange. We expect to pay each sales person 12%
to 15% of the net profit we realize from such sales.
We therefore expect to incur the following costs in the next 12 months in
connection with our business operations:
Marketing costs: $20,000
General administrative costs: $10,000
Total: $30,000
In addition, we anticipate spending an additional $10,000 on administrative
fees. Total expenditures over the next 12 months are therefore expected to be
$40,000.
While we have sufficient funds on hand to commence business operations, our cash
reserves are not sufficient to meet our obligations for the next twelve-month
period. As a result, we will need to seek additional funding in the near future.
We currently do not have a specific plan of how we will obtain such funding;
however, we anticipate that additional funding will be in the form of equity
financing from the sale of our common stock.
We may also seek to obtain short-term loans from our directors, although no such
arrangement has been made. At this time, we cannot provide investors with any
assurance that we will be able to raise sufficient funding from the sale of our
common stock or through a loan from our directors to meet our obligations over
the next twelve months. We do not have any arrangements in place for any future
equity financing.
If we are unable to raise the required financing, we will be delayed in
conducting our business plan.
Our ability to generate sufficient cash to support our operations will be based
upon our sales staff's ability to generate bamboo flooring sales. We expect to
accomplish this by securing a significant number of agreements with large and
small retailers and by retaining suitable salespersons with experience in the
retail sales sector.
RESULTS OF OPERATIONS FOR PERIOD ENDING FEBRUARY 28, 2007
We did not earn any revenues in the six-month period ended February 28, 2007.
During the same period, we incurred operating expenses of $3,861 consisting of
donated management fees of $3,000, filing and transfer agent fees of $750,
travel and promotion costs of $24, and bank charges of $87.
<PAGE>
At February 28, 2007, we had assets of $16,061 consisting of $15,965 in cash and
$96 in other receivables. We did not have any liabilities as of February 28,
2007.
We have not attained profitable operations and are dependent upon obtaining
financing to pursue exploration activities. For these reasons our auditors
believe that there is substantial doubt that we will be able to continue as a
going concern.
ITEM 3. CONTROLS AND PROCEDURES
EVALUATION OF DISCLOSURE CONTROLS
We evaluated the effectiveness of our disclosure controls and procedures as of
February 28, 2007. This evaluation was conducted by Albert Au, our chief
executive officer and Jeanne Mok, our principal accounting officer.
Disclosure controls are controls and other procedures that are designed to
ensure that information that we are required to disclose in the reports we file
pursuant to the Securities Exchange Act of 1934 is recorded, processed,
summarized and reported.
LIMITATIONS ON THE EFFECTIVE OF CONTROLS
Our management does not expect that our disclosure controls or our internal
controls over financial reporting will prevent all error and fraud. A control
system, no matter how well conceived and operated, can provide only reasonable,
but no absolute, assurance that the objectives of a control system are met.
Further, any control system reflects limitations on resources, and the benefits
of a control system must be considered relative to its costs. These limitations
also include the realities that judgments in decision-making can be faulty and
that breakdowns can occur because of simple error or mistake. Additionally,
controls can be circumvented by the individual acts of some persons, by
collusion of two or more people or by management override of a control. A
design of a control system is also based upon certain assumptions about
potential future conditions; over time, controls may become inadequate because
of changes in conditions, or the degree of compliance with the policies or
procedures may deteriorate. Because of the inherent limitations in a cost-
effective control system, misstatements due to error or fraud may occur and may
not be detected.
CONCLUSIONS
Based upon their evaluation of our controls, Albert Au, our chief executive
officer and Jeanne Mok, our principal accounting officer, have concluded that,
subject to the limitations noted above, the disclosure controls are effective
providing reasonable assurance that material information relating to us is made
known to management on a timely basis during the period when our reports are
being prepared. There were no changes in our internal controls that occurred
during the quarter covered by this report that have materially affected, or are
reasonably likely to materially affect our internal controls.
PART II- OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
The Company is not a party to any pending legal proceeding. Management is not
aware of any threatened litigation, claims or assessments.
ITEM 2. CHANGES IN SECURITIES
None.
<PAGE>
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
None.
ITEM 5. OTHER INFORMATION
None.
ITEM 6. EXHIBITS AND REPORT ON FORM 8-K
31.1 Certification pursuant to 18 U.S.C. Section 1350, as adopted
pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2 Certification pursuant to 18 U.S.C. Section 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.1 Certification pursuant to 18 U.S.C. Section 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2 Certification pursuant to 18 U.S.C. Section 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
We did not file any current reports on Form 8-K during the period.
SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
April 16, 2007
K-9 Concepts, Inc.
/s/ Albert Au
------------------------------
Albert Au, President
=============================================================
SIGNATURE
Resubmitted: November 30, 2015
Now Called Predictive Technology Group, Inc. (f.k.a Global Enterprises Group, Inc.)(f.k.a Global Housing Group, Inc.)
In accordance with the requirements of the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
By: Merle Ferguson
/s/ Merle Ferguson
Chairman
November 30, 2015