Attached files
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
[X] Quarterly Report Pursuant To Section 13 or 15(d) Of The Securities Exchange
Act Of 1934
For the quarterly period ended March 31, 2011
[ ] Transition Report Under Section 13 or 15(d) Of The Securities Exchange Act
Of 1934
For the transition period from __________ to __________
Commission File Number: 000-52883
CREATIVE LEARNING CORPORATION
--------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 20-4456503
-------------------------------- ------------------------------------
(State or other jurisdiction (I.R.S. Employer Identification No.)
of incorporation or organization)
340 Paseo Reyes Drive
St. Augustine, FL 32095
-------------------------------------------
(Address of principal executive offices, including Zip Code)
(904)-825-0873
--------------
(Issuer's telephone number, including area code)
-----------------------------------------
(Former name or former address 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 Exchange Act during the past 12 months (or for such shorter
period that the registrant 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 has submitted electronically and
posted on its corporate Web site, if any, every Interactive Data File required
to be submitted and posted pursuant to Rule 405 of Regulation S-T (ss.232.405 of
this chapter) during the preceding 12 months (or for such shorter period that
the registrant was required to submit and post such files). Yes [ ] No [ ]
Indicate by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a small reporting company. See
the definitions of "large accelerated filer," "accelerated filer,"
"non-accelerated filer," and "smaller reporting company" in Rule 12b-2 of the
Exchange Act.
Large accelerated filer [ ] Accelerated filer [ ]
Non-accelerated filer [ ] Smaller reporting company [x]
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
equity, as of the latest practicable date: 11,537,576 shares of common stock as
of June 30, 2011.
CREATIVE LEARNING CORPORATION
Consolidated Financial Statements
(Unaudited)
TABLE OF CONTENTS
Page
----
CONSOLIDATED FINANCIAL STATEMENTS
Consolidated balance sheets 2
Consolidated statements of operation 3
Consolidated statements of operation 4
Consolidated statements of cash flows 5-6
Notes to consolidated financial statements 7-10
1
CREATIVE LEARNING CORPORATION
CONSOLIDATED BALANCE SHEETS
Mar. 31,
Sept. 30, 2011
2010 (Unaudited)
------------- -----------
ASSETS
Current assets
Cash $ 27,271 $ 112,884
------------- -----------
Total current assets 27,271 112,884
------------- -----------
Fixed assets 41,743 48,100
Less accumulated depreciation (589) (5,280)
Accounts Receivable - 360,000
Other assets 9,819 9,819
------------- -----------
50,973 412,639
------------- -----------
Total Assets $ 78,244 $ 525,523
============= ===========
LIABILITIES & STOCKHOLDERS' EQUITY
Current liabilities
Accounts payable $ 39,700 $ 21,591
Note payable - related party 650 650
Notes payable 200,000 190,000
Debt discount (19,630) -
Accrued interest payable 6,350 16,482
Due to shareholder 6,250 6,250
------------- -----------
Total current liabilities 233,320 234,973
------------- -----------
Total Liabilities 233,320 234,973
------------- -----------
Stockholders' Equity
Creative Learning Corporation
stockholders' equity
Preferred stock, $.0001 par value;
10,000,000 shares authorized; none
issued and outstanding - -
Common stock, $.0001 par value;
50,000,000 shares authorized;
2,581,268 and 2,929,070
respectively shares issued
and outstanding 258 293
Additional paid in capital 670,427 914,290
Stock subscription - 360,000
Retained earnings (deficit) (771,027) (984,033)
------------- -----------
Total Creative Learning Corporation (100,342) 290,550
stockholders' equity
Noncontrolling interest (54,734) -
------------- -----------
Total Stockholders' Equity (155,076) 290,550
------------- -----------
Total Liabilities & Stockholders' Equity $ 78,244 $ 525,523
============= ===========
The accompanying notes are an integral part of the consolidated financial
statements.
2
CREATIVE LEARNING CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
Six Months Six Months
Ended Ended
Mar. 31, 2010 Mar. 31, 2011
-------------- -------------
Revenues $ 215,984 $ 646,387
-------------- -------------
Operating expenses:
Advertising and promotions 46,082 57,869
Commissions 64,122 143,874
Consulting 33,895 163,777
Equipment rental 725 541
Legal and professional 5,810 29,480
Office expense 13,203 54,328
Rent 4,748 42,941
Salaries and Wages - 133,285
Taxes and licenses 1,765 25,000
Telephone - 5,453
Training 21,692 15,678
Travel and entertainment 17,249 52,883
Utilities - 2,026
Miscellaneous 1,555 1,345
Depreciation - 4,691
General and administrative 3,313 143,290
-------------- -------------
214,159 876,461
-------------- -------------
Gain (loss) from operations 1,825 (230,074)
-------------- -------------
Other income (expense):
Interest expense (14,189)
Interest expense - debt discount (19,630)
Interest income 1 -
Other income - 50,887
-------------- -------------
1 17,068
-------------- -------------
Income (loss) before provision for income
taxes 1,826 (213,006)
Provision for income tax - -
-------------- -------------
Net income (loss) $ 1,826 $ (213,006)
================ =============
Net income (loss) per share (Creative
Learning Corporation)
(Basic and fully diluted) $ 0.00 $ (0.08)
================ =============
Weighted average number of
common shares outstanding 1,557,000 2,666,039
================ =============
3
CREATIVE LEARNING CORPORATION
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
Stockholders'
Equity -
Common Stock Additional Retained Creative Total
Amount Paid in Stock Earnings Learning Non-controlling Stockholders'
Shares (1) (@.0001 Par) Capital Subscription (Deficit) Corporation Interest Equity
---------- ----------- --------- ------------ --------- ----------- ---------------- -------------
Balances at
September 30, 2008 - $ - $ - $ - $ - $ - $ - $ -
Founders shares for
cash 1,557,000 156 49,844 50,000 50,000
Net income (loss)
for the year 7,002 7,002 7,002
---------- ----------- --------- ------------ --------- ----------- ---------------- -------------
Balances at
September 30, 2009 1,557,000 $ 156 $ 49,844 $ - $ 7,002 $ 57,002 $ - $ 57,002
Stock issued for
reverse acquisition 800,000 80 (26,410) (26,330) (26,330)
Compensatory
warrant issuances 353,814 353,814 353,814
Compensatory stock
issuances 100,000 10 141,237 141,247 141,247
Paid in capital -
beneficial
conversion feature 58,753 58,753 58,753
Sales of common
stock 124,268 12 93,189 93,201 93,201
Net income (loss)
for the year (778,029) (778,029) (54,734) (832,763)
---------- ----------- --------- ------------ --------- ----------- ---------------- -------------
Balances at
September 30, 2010 2,581,268 $ 258 $ 670,427 $ - $(771,027) $ (100,342) $ (54,734) $ (155,076)
Acquisition of
non-controlling
interest $ (54,734) $ (54,734) $ 54,734 $ -
Sales of common
stock 201,900 20 151,405 151,425 151,425
Compensatory stock
issuances 145,902 15 147,192 147,207 147,207
Stock Subscription 360,000 360,000 360,000
Net income (loss)
for the period (213,006) (213,006) - (213,006)
---------- ----------- --------- ------------ --------- ----------- ---------------- -------------
Balances at March
31, 2011 -
Unaudited 2,929,070 $ 293 $ 914,290 $ 360,000 $(984,033) $ 290,550 $ - $ 290,550
========== =========== ========= ============ ========= =========== ================ =============
(1) As restated for a reverse acquisition on July 2, 2010
The accompanying notes are an integral part of the
consolidated financial statements.
4
CREATIVE LEARNING CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
Six Months Six Months
Ended Ended
March 31, Mar 31,
2010 2011
---------- ----------
Cash Flows From Operating Activities:
Net income (loss) during the
development stage $ 1,826 $(213,006)
Adjustments to reconcile net loss
to net cash provided by (used for)
operating activities:
Compensatory stock issuances - 147,207
Depreciation - 4,691
Accounts receivable (29,000) -
Note receivable (500) 0
Security deposits (200) 0
Interest expense - debt
discount - 19,630
Accounts payables 9,927 (18,109)
Accrued payables - 10,132
---------- ----------
Net cash provided by (used for)
operating activities (17,947) (49,455)
---------- ----------
Cash Flows From Investing Activities:
Fixed assets - (6,357)
---------- ----------
Net cash provided by (used for)
investing activities - (6,357)
---------- ----------
The accompanying notes are an integral part of the
consolidated financial statements.
(Continued On Following Page)
5
CREATIVE LEARNING CORPORATION
(formerly B2 Health, Inc.)
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Continued From Previous Page)
Six Months Six Months
Ended Ended
March 31, Mar 31,
2010 2011
------------- -------------
Cash Flows From Financing Activities:
Notes payable - borrowings 650 (10,000)
Member contribution 50,000
Sales of common stock - 151,425
------------- -------------
Net cash provided by (used for)
financing activities 50,650 141,425
------------- -------------
Net Increase (Decrease) In Cash 32,703 85,613
Cash At The Beginning Of The Period - 27,271
------------- -------------
Cash At The End Of The Period $ 32,703 $ 112,884
============= =============
Schedule Of Non-Cash Investing And Financing Activities
-------------------------------------------------------
In 2010 the Company issued:
o 50,000 shares in connection with notes payable for compensation
recorded at $100,000;
o 200,000 common stock purchase options in connection with notes payable
for compensation recorded at $353,814; and
o 713,000 shares of common stock pursuant to a reverse acquisition for
net liabilities of $200,330.
Supplemental Disclosure
-----------------------
Cash paid for
interest $ - $ -
------------- -------------
Cash paid for income taxes $ - $ -
------------- -------------
6
CREATIVE LEARNING CORPORATION
(formerly B2 Health, Inc.)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
NOTE 1. ORGANIZATION, OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Creative Learning Corporation (formerly B2 Health, Inc.) was incorporated March
8, 2006 in the State of Delaware. BFK Franchise Company LLC was formed in the
State of Nevada on May 19, 2009. Effective July 2, 2010 Creative Learning
Corporation was acquired by BFK Franchise Company LLC. The transaction was
accounted for similar to a reverse acquisition as the members of BFK Franchise
Company LLC retained the majority of the outstanding common stock of Creative
Learning Corporation after the share exchange. The accounting for the
transaction was identical to that resulting from a reverse acquisition, except
that no goodwill or other intangibles were recorded. Creative Learning
Corporation concurrently changed its name from B2 Health, Inc. to Creative
Learning Corporation. The financial statements represent the activity of BFK
Franchise Company LLC from May 19, 2009 forward, and the consolidated activity
of BFK Franchise Company LLC and Creative Learning Corporation from July 2, 2010
forward. BFK Franchise Company LLC and Creative Learning Corporation are
hereinafter referred to collectively as the "Company". The Company, primarily
through franchises, offers educational programs designed to teach principles of
engineering, architecture and physics to children using Lego (R) bricks. The
Company may also engage in any other business that is permitted by law, as
designated by the Board of Directors of the Company.
Basis of Presentation
---------------------
The accompanying unaudited financial statements have been prepared in accordance
with the instructions to Form 10-Q and do not include all of the information and
disclosures required by generally accepted accounting principles for complete
financial statements. All adjustments which are, in the opinion of management,
necessary for a fair presentation of the results of operations for the interim
periods have been made and are of a recurring nature unless otherwise disclosed
herein. The results of operations for such interim periods are not necessarily
indicative of operations for a full year.
Fiscal year
-----------
The Company employs a fiscal year ending September 30.
Principles of consolidation
---------------------------
The accompanying consolidated financial statements include the accounts of the
Company and its wholly owned subsidiary. All intercompany accounts and
transactions have been eliminated in consolidation.
Cash and cash equivalents
-------------------------
The Company considers all highly liquid investments with an original maturity of
three months or less as cash equivalents.
7
CREATIVE LEARNING CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
NOTE 1. ORGANIZATION, OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued):
Accounts receivable
-------------------
The Company reviews accounts receivable periodically for collectability and
establishes an allowance for doubtful accounts and records bad debt expense when
deemed necessary. At March 31, 2011 the Company had no balance in its allowance
for doubtful accounts.
Property and equipment
----------------------
Property and equipment are recorded at cost and depreciated under straight line
or accelerated methods over each item's estimated useful life.
Revenue recognition
-------------------
Revenue is recognized on an accrual basis after services have been performed
under contract terms, the service price to the client is fixed or determinable,
and collectability is reasonably assured.
Use of Estimates
----------------
The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect reported amounts of assets and liabilities and disclosure of contingent
assets and liabilities at the date of the financial statements and the reported
amounts of revenues and expenses during the reporting period. Actual results
could differ from those estimates.
Income tax
----------
The Company accounts for income taxes pursuant to ASC 740. Under ASC 740
deferred taxes are provided on a liability method whereby deferred tax assets
are recognized for deductible temporary differences and operating loss
carryforwards and deferred tax liabilities are recognized for taxable temporary
differences. Temporary differences are the differences between the reported
amounts of assets and liabilities and their tax bases. Deferred tax assets are
reduced by a valuation allowance when, in the opinion of management, it is more
likely than not that some portion or all of the deferred tax assets will not be
realized. Deferred tax assets and liabilities are adjusted for the effects of
changes in tax laws and rates on the date of enactment.
8
CREATIVE LEARNING CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
NOTE 1. ORGANIZATION, OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued):
Prior to fiscal year 2010 the Company operated as an LLC, was a pass-through
entity for federal income tax purposes and paid no income tax at the company
level. At March 31, 2011 the Company had net operating loss carryforwards of
approximately $984,033 which begin to expire in 2031. The deferred tax asset of
approximately $196,807 created by the net operating loss has been offset by a
100% valuation allowance. The change in the valuation allowance in the six month
interim period ended March 31, 2011 was $42,602.
Advertising costs
-----------------
Advertising costs are expensed as incurred. The Company had advertising costs
for the six month period ended March 31, 2011 was $57,869.
Net income (loss) per share
---------------------------
The net income (loss) per share is computed by dividing the net income (loss) by
the weighted average number of shares of common outstanding. Warrants, stock
options, and common stock issuable upon the conversion of the Company's
preferred stock (if any), are not included in the computation if the effect
would be anti-dilutive and would increase the earnings or decrease loss per
share.
Financial Instruments
---------------------
The carrying value of the Company's financial instruments, as reported in the
accompanying balance sheets, approximates fair value.
Long-Lived Assets
-----------------
In accordance with ASC 350, the Company regularly reviews the carrying value of
intangible and other long-lived assets for the existence of facts or
circumstances, both internally and externally, that may suggest impairment. If
impairment testing indicates a lack of recoverability, an impairment loss is
recognized by the Company if the carrying amount of a long-lived asset exceeds
its fair value.
Stock based compensation
------------------------
The Company accounts for employee and non-employee stock awards under ASC 718,
whereby equity instruments issued to employees for services are recorded based
on the fair value of the instrument issued and those issued to non-employees are
recorded based on the fair value of the consideration received or the fair value
of the equity instrument, whichever is more reliably measurable.
9
CREATIVE LEARNING CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
NOTE 1. ORGANIZATION, OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued):
Non-controlling interest
------------------------
On October 1, 2010 the Company acquired the remaining 50% portion of BFK
Development LLC resulting in a $54,734 reduction in the additional paid in
capital account.
10
Item 2. Management's Discussion and Analysis of Financial Condition and Plan of
Operation
The Company was formed in March 2006 to design, manufacture and sell
chiropractic tables and beds. The Company generated only limited revenue and
essentially abandoned its business plan in March 2008.
Although from a legal standpoint the Company, on July 2, 2010, acquired BFK
Franchise Company, for financial reporting purposes, the acquisition of BFK
constituted a recapitalization, and the acquisition was accounted for similar to
a reverse merger, with the result that BFK was deemed to have acquired the
Company. As a result, the financial statements of the Company included as part
of this report represent the activity of BFK from May 19, 2009 (the inception of
BFK) to July 2, 2010, and the consolidated activity of BFK and the Company from
July 2, 2010 forward.
Unless otherwise indicated, any reference to the operations of the Company
includes the operations of BFK.
BFK, which conducts business under the trade name, BRICKS 4 KIDS(R), offers
programs designed to teach principles of engineering, architecture and physics
to children ages 3-12+ using LEGO(R) bricks. BFK provides classes (both in
school and after school), special events programs and day camps that are
designed to enhance and enrich the traditional school curriculum, trigger young
children's lively imaginations and build self-confidence. BFK's programs foster
creativity and provide a unique atmosphere for students to develop problem
solving and critical thinking skills by designing and building machines,
catapults, pyramids, race cars, buildings and numerous other systems and devices
using LEGO(R) bricks.
BFK operates through Corporate Creativity Centers and franchisees.
A Corporate Creativity Center is a store-front location, owned and
operated by BFK, where BFK coordinates in school field trips, after school
classes, parties, camps and other programs - as well as the retail sales of
LEGO(R) merchandise.
BFK sold its first franchise in September 2009. Since that time BFK has:
o opened 1 Corporate Creativity Center in Florida; and
o sold 49 additional franchises.
As of June 30, 2011 BFK, through its franchises, was operating in 23 states
and one foreign country.
The increase in the Company's revenues and expenses during the six months
ended March 31, 2011, as compared to the same period last year, reflects the
expansion of the Company's business.
11
Liquidity and Capital Resources
Sources and (uses) of funds for the six months ended March 31, 2010 and
2011 are shown below:
Six Months Ended March 31,
2010 2011
---- ----
Cash provide by (used in) operations $(17,947) $(49,455)
Purchase of equipment -- (6,357)
Loan from third party 650 --
Payments on loans to third parties -- (10,000)
Sale of common stock -- 151,425
Subsequent to July 2, 2010, the date the Company acquired BFK Franchise
Company, the Company had the following transactions in its common stock:
Between September 2010 and December 2010, the Company sold 55,342 units at
a price of $3.00 per unit. Each Unit consisted of four shares of the Company's
common stock and one warrant. Each Warrant entitles the holder to purchase one
share of the Company's common stock at a price of $3.00 per share. The Warrants
expire on the earlier of July 31, 2013, or twenty days following written
notification from the Company that its common stock had a closing bid price at
or above $4.00 for any ten of twenty consecutive trading days. The proceeds from
the sale of the Units were used to open a new Corporate Creativity Center in
Coral Springs, Florida, as well as for developing the Company's online Franchise
Management Tool that is used by franchisees for business management and general
and administrative expenses.
On June 24, 2010 the Company borrowed $100,000 from a franchisee. During
the six months ended March 31, 2011 this loan was converted into 252,500 shares.
On July 15, 2010 the Company borrowed $100,000 from three persons. During
the six months ended March 31, 2011 these loans were converted into 215,902
shares. Of this amount, 62,500 shares had not been issued as of June 30, 2011.
On December 28, 2010 the Company borrowed $10,000 from a franchisee. The
loan was repaid on April 2, 2011. In partial consideration for providing this
loan, the Company agreed to issue 7,500 shares of common stock to the
franchisee. Of this amount, 2,500 shares have been issued as of May 15, 2011 and
5,000 shares remain to be issued.
Between January 1, 2011 and June 30, 2011 the Company issued 100,000 shares
to unrelated parties for investor relations services.
On January 12, 2011 the Company issued 20,000 shares to employees for
services rendered.
In March 2011 the Company granted a third party an option to purchase up to
667,000 shares at a price of $0.675 per share. As of June 30, 2011 the option
holder had purchased all 667,000 shares.
12
Between April 1, 2011 and June 30, 2011, the Company sold 125,000 shares,
at a price of $1.00 per share, to a group of private investors.
In May 2011, the Company issued 50,000 shares to Dan O'Donnell, the
Company's Vice President of Operations, for services rendered.
On February 27, 2011 the Company borrowed $15,000 from a third party. This
loan was repaid on March 22, 2011. In partial consideration for providing this
loan, the Company agreed to issue 2,500 shares to the lender. As of June 30,
2011, these shares had not been issued.
Except as indicated, none of the shares listed above were issued to an
officer, director, principal shareholder or an affiliate of the Company.
As of June 30, 2011 the Company's operating cash requirements were
approximately $63,000 per month.
The Company anticipates that its capital requirements for the twelve-month
period ending March 31, 2012 will be as follows:
General and administrative expenses $343,200
Marketing $180,000
Business development $100,000
Opening new Corporate Creativity Centers $200,000
The Company will need to raise the capital it requires through the sale of
its securities or from loans from third parties. The Company does not have any
commitments or arrangements from any person to provide the Company with any
additional capital. If additional financing is not available when needed, the
Company may need to curtail operations. The Company may not be successful in
raising the capital it needs.
As of March 31, 2011 the Company had outstanding short term loans of
$190,000, accrued interest payable of $16,482 and $6,250 due to a shareholder.
The Company's remaining liabilities consisted of trade payables. In late
February, early March 2011, the Company began to generate a positive cash flow
from its operations. Notwithstanding the above, there is no assurance the
Company's operations will be profitable or that the Company will continue to
generate a positive cash flow.
Contractual Obligations
The following table summarizes the Company's contractual obligations as of
March 31, 2011:
Payments Due by Year
Item 2011 2012 2013 Total
---- ---- ---- ---- -----
Lease of corporate office $24,000 -- -- $ 24,000
Lease of Creative Learning Center $42,119 $44,175 $45,267 $131,561
13
Off-Balance Sheet Arrangements
The Company does not have any off-balance sheet arrangements that have or
are reasonable likely to have a current or future material effect on the
Company's financial condition, changes in financial condition, results of
operations, liquidity or capital resources.
Outlook
Other than as disclosed above, the Company does not know of any trends,
demands, commitments, events or uncertainties that will result in, or that are
reasonably likely to result in, the Company's liquidity increasing or decreasing
in any material way.
Other than as disclosed above, the Company does not know of any significant
changes in its expected sources and uses of cash
Critical Accounting Policies and Recent Accounting Pronouncements
See Note 1 to the Company's financial statements included as part of this
report for a discussion of the Company's critical accounting policies and recent
accounting pronouncements, the adoption of which may have a material effect on
the Company's financial statements.
Item 4. Controls and Procedures.
(a) The Company maintains a system of controls and procedures designed to
ensure that information required to be disclosed in reports filed or submitted
under the Securities Exchange Act of 1934, as amended ("1934 Act"), is recorded,
processed, summarized and reported, within time periods specified in the SEC's
rules and forms and to ensure that information required to be disclosed by the
Company in the reports that it files or submits under the 1934 Act, is
accumulated and communicated to the Company's management, including its
Principal Executive and Financial Officer, as appropriate to allow timely
decisions regarding required disclosure. As of March 31, 2011, the Company's
Principal Executive and Financial Officer evaluated the effectiveness of the
design and operation of the Company's disclosure controls and procedures. Based
on that evaluation, the Principal Executive and Financial Officer concluded that
the Company's disclosure controls and procedures were effective.
(b) Changes in Internal Controls. There were no changes in the Company's
internal control over financial reporting during the quarter ended March 31,
2011, that materially affected, or are reasonably likely to materially affect,
its internal control over financial reporting.
14
PART II
Item 6. Exhibits
Exhibits
31.1 Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2 Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32 Certification pursuant to Section 906 of the Sarbanes-Oxley Act.
15
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
CREATIVE LEARNING CORPORATION
July 20, 2011 By /s/ Brian Pappas
---------------------------------
Brian Pappas, Principal Executive,
Financial and Accounting Officer
16
