Attached files

file filename
EXCEL - IDEA: XBRL DOCUMENT - BLUE EAGLE LITHIUM INC.Financial_Report.xls
EX-31.1 - EXHIBIT 31.1 - BLUE EAGLE LITHIUM INC.ex31-1.htm
EX-32.1 - EXHIBIT 32.1 - BLUE EAGLE LITHIUM INC.ex32-1.htm

 

 

 

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 July 31, 2014

 

or

 

[  ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from               to              

 

Commission file number: 333-183839

 

WISHBONE PET PRODUCTS INC.

(Exact name of registrant as specified in its charter)

 

Nevada   Pending
State or other jurisdiction of
incorporation or organization
  (I.R.S. Employer
Identification No.)

 

2857 Sherwood Heights Drive, Oakville, Ontario, L6J 7J9

(Address of principal executive offices) (Zip Code)

 

(888) 414-6832

Registrant’s telephone number, including area code

 

N/A

(Former name, former address and former fiscal year, if changed since last report)

 

Indicate by check mark whether the registrant (1) has 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 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 (§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 smaller reporting company. See the definitions of “large accelerated filer,” “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]
(Do not check if a smaller reporting company)        

  

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [X] No [  ]

 

APPLICABLE ONLY TO CORPORATE ISSUERS:

 

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

 

3,500,000 shares of common stock are issued and outstanding as of September 16, 2014.

 

 

 

 
 

 

INDEX

 

      Page
       
PART I FINANCIAL INFORMATION  
       
Item 1. Financial Statements (unaudited)   F-1
       
  BALANCE SHEETS as of July 31, 2014 and April 30, 2014   F-1
       
  STATEMENTS OF OPERATIONS for the Three Months ended July 31, 2014 and 2013, and for the period since inception to July 31, 2014   F-2
       
  STATEMENTS OF SHAREHOLDERS’ EQUITY for the period since inception   F-3
       
  STATEMENTS OF CASH FLOWS for the Three Months Ended July 31, 2014 and July 31, 2013, and for the period since inception to July 31, 2014   F-4
       
  NOTES TO THE UNAUDITED INTERIM FINANCIAL STATEMENTS   F-5
       
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations   3
       
Item 3 Quantitative and Qualitative Disclosures About Market Risk   5
       
Item 4. Controls and Procedures   5
       
PART II OTHER INFORMATION  
       
Item 1. Legal Proceedings   6
       
Item 1A. Risk Factors   6
       
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds   6
       
Item 3. Defaults Upon Senior Securities.   6
       
Item 4 Submission of Matters to a Vote of Security Holders   6
       
Item 5. Other Information.   6
       
Item 6. Exhibits   6
       
SIGNATURES   7

 

2
 

 

PART I. FINANCIAL INFORMATION

 

Item 1. Financial Statements

 

WISHBONE PET PRODUCTS INC.

(A Developmental Stage Company)

BALANCE SHEETS

 

   July 31, 2014   April 30, 2014 
   Unaudited   Audited 
ASSETS          
Cash  $1,082   $4,240 
           
TOTAL ASSETS  $1,082   $4,240 
           
LIABILITIES & SHAREHOLDER’S EQUITY          
           
LIABILITIES          
Accounts payable & Accrued liabilities  $18,447   $17,762 
Loans payable   37,000    37,000 
    55,447    54,762 
           
SHAREHOLDER’S EQUITY          
Capital stock authorized: 200,000,000 common shares with a par value $0.001          
Issued and outstanding: 3,500,000 common shares          
Capital stock  $3,500   $3,500 
Additional paid-in capital   13,500    13,500 
Deficit accumulated during the developmental stage   (71,365)   (67,522)
    (54,365)   (50,522)
           
TOTAL LIABILITIES & SHAREHOLDER’S EQUITY  $1,082   $4,240 

 

See accompanying notes to consolidated financial statements.

 

F-1
 

 

WISHBONE PET PRODUCTS INC.

(A Developmental Stage Company)

INCOME STATEMENTS

For the three months ended July 31, 2014 and 2013, and

For the period from July 30, 2009 (inception) to July 31, 2014

 

       From the period 
   For the three months   July 30, 2009 
   ended July 31,   (inception) to 
   2014   2013   July 31, 2014 
OPERATING EXPENSES               
                
Professional fees  $2,675   $475   $45,161 
General & administrative expenses   58    56    20,680 
                
TOTAL EXPENSES   2,733    531    65,841 
                
OPERATING LOSS  $(2,733)  $(531)  $(65,841)
                
OTHER EXPENSES               
Interest on loans   1,110    510    5,530 
                
OTHER INCOME               
Interest income   -    -    6 
                
NET INCOME/(LOSS)  $(3,843)  $(1,041)  $(71,365)
                
Net loss per share, basic and diluted  $(0.001)  $(0.000)   
                
Weighted average common shares outstanding basic and diluted   3,500,000    3,500,000      

 

See accompanying notes to consolidated financial statements.

 

F-2
 

 

WISHBONE PET PRODUCTS INC.

(A Developmental Stage Company)

STATEMENT OF CHANGES IN STOCKHOLDER’S EQUITY

For the period July 30, 2009 to July 31, 2014

 

   Common Stock             
   200,000,000 shares authorized   Additional       Total 
   Shares   Par Value   Paid in   Accumulated   Shareholder’s 
   Issued   $.001 per share   Capital   Deficit   Equity 
                     
Shares issued at $0.001   2,000,000   $2,000   $-   $-   $2,000 
Net income/loss                  (3,882)   (3,882)
Balance, April 30, 2010   2,000,000   $2,000   $-   $(3,882)  $(1,882)
                          
Shares issued at $0.01   1,500,000    1,500    13,500         15,000 
Net income/loss                  (3,996)   (3,996)
Balance, April 30, 2011   3,500,000   $3,500   $13,500   $(7,878)  $9,122 
                          
Net income/loss                  (5,200)   (5,200)
Balance, April 30, 2012   3,500,000   $3,500   $13,500   $(13,078)  $3,922 
                          
Net income/loss                  (30,098)   (30,098)
Balance, April 30, 2013   3,500,000   $3,500   $13,500   $(43,176)  $(26,176)
                          
Net income/loss                  (24,346)   (24,346)
Balance, April 30, 2014   3,500,000   $3,500   $13,500   $(67,522)  $(50,522)
                          
Net income/loss                  (3,843)   (3,843)
Balance, July 31, 2014   3,500,000   $3,500   $13,500   $(71,365)  $(54,365)

 

See accompanying notes to consolidated financial statements.

 

F-3
 

 

WISHBONE PET PRODUCTS INC.

(A Developmental Stage Company)

STATEMENT OF CASH FLOWS

For the three months ended July 31, 2014 and 2013, and

For the period from July 30, 2009 (inception) to July 31, 2014

 

       From the period 
   For the three months   July 30, 2009 
   ended July 31,   (inception) to 
   2014   2013   July 31, 2014 
             
Net income/(loss)  $(3,843)  $(1,041)  $(71,365)
Adjustments to reconcile net income to net cash:               
                
Changes in current assets and liabilities:               
Accounts payable   685    (65)   18,447 
                
Net cash used in operating activities  $(3,158)  $(1,106)  $(52,918)
                
Cash Flows from Investing Activities               
   $-   $-   $- 
                
Net cash used in investing activities  $-   $-   $- 
                
Cash Flows from Financing Activities               
Proceeds from the issuance of common stock  $-   $-   $17,000 
Proceeds from loans payable   -         37,000 
                
Net cash provided by financing activities  $-   $-   $54,000 
                
Net cash flows from operations  $(3,158)  $(1,106)  $1,082 
                
Cash and cash equivalents, beginning of period  $4,240   $6,204   $- 
                
Cash and cash equivalents, end of period  $1,082   $5,098   $1,082 

 

See accompanying notes to consolidated financial statements.

 

F-4
 

  

WISHBONE PET PRODUCTS INC.

(A Development Stage Company)

Notes to the Financial Statement

July 31, 2014

 

Note 1 Nature and Continuance of Operations

 

Wishbone Pet Products Inc. was incorporated in the State of Nevada on July 30, 2009. The Company has been in the development stage since its formation and has not realized any revenues from its planned operations. The Company is primarily engaged in the business of developing, manufacturing, marketing and selling dog waste removal devices.

 

The Company has chosen an April 30 fiscal year end.

 

Note 2 Basis of Presentation – Going Concern Uncertainties

 

These financial statements have been prepared in conformity with generally accepted accounting principles in the United States, which contemplate continuation of the Company as a going concern. The Company is at its early stages of development and has limited operations, and has sustained operating losses resulting in a deficit. While the information presented in the accompanying interim financial statements is unaudited, it includes all adjustments which are in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the interim period presented in accordance with accounting principles generally accepted in the United States of America. All adjustments are of a normal recurring nature.

 

Although these interim financial statements follow the same accounting policies and methods of their application as the Company’s April 30, 2014 annual financial statements, they do not include all information and footnotes required by generally accepted accounting principles for complete financial statements. Accordingly, it is suggested that these interim financial statements be read in conjunction with the Company’s April 30, 2014 annual financial statements. The results of operations for the period are not necessarily indicative of the results expected for a full year or for any future periods.

 

The Company has accumulated a deficit of $71,365 since inception, has yet to achieve profitable operations and further losses are anticipated in the development of its business. The Company’s ability to continue as a going concern is in substantial doubt and is dependent upon obtaining financing and/or achieving a sustainable profitable level of operations. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. The Company may seek additional equity as necessary and it expects to raise funds through private or public equity investment or loans from directors of the Company in order to support existing operations. There is no assurance that such additional funds will be available for the Company on acceptable terms, if at all.

 

F-5
 

 

Note 3 Summary of Principal Accounting Policies

 

Basis of presentation

 

The accompanying financial statements are stated in US dollars and have been prepared in accordance with generally accepted accounting principles in the United States of America.

 

Cash and cash equivalents

 

The Company considers all short-term highly liquid investments that are readily convertible to known amounts of cash and have original maturities of three months or less to be cash equivalents.

 

Use of estimates

 

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the 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 revenue and expenses during the reporting period. Management makes its best estimate of the ultimate outcome for these items based on historical trends and other information available when the financial statements are prepared. Changes in estimates are recognized in accordance with the accounting rules for the estimate, which is typically in the period when new information becomes available to management. Actual results could differ from those estimates.

 

Income Taxes

 

The Company follows the guideline under ASC Topic 740 “Income Taxes which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates, applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. Since the Company is in the developmental stage and has losses, no deferred tax asset or income taxes have been recorded in the financial statements.

 

Financial instruments

 

The Company’s financial instruments consist of cash, accounts payable and accrued liabilities and their carrying values approximate fair value because of their short-term nature. Management is of the opinion that the Company is not exposed to significant interest or credit risks arising from these financial instruments.

 

F-6
 

 

Development Stage Company

 

The Company has not earned any revenue from limited principal operations. Accordingly, the Company’s activities have been accounted for as those of a “Development Stage Entity” as set forth in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 915. Among the disclosures required by ASC Topic 915 are that the Company’s financial statements be identified as those of a development stage company, and that the statements of earnings, retained earnings and stockholders’ equity and cash flows disclose activity since the date of the Company’s inception. All losses accumulated since inception has been considered as part of the Company’s development stage activities.

 

Fair value measurements

 

The Company follows the guidelines in ASC Topic 820 “Fair Value Measurements and Disclosures”. Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, which are required to be recorded at fair value, the Company considers the principal or most advantageous market in which the Company would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as inherent risk, transfer restrictions and credit risk.

 

The Company applies the following fair value hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement:

 

Level 1 — Quoted prices in active markets for identical assets or liabilities.

 

Level 2 — Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities

 

Level 3 — inputs are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques, including option pricing models and discounted cash flow models.

 

ASC Topic 820, in and of itself, does not require any fair value measurements. As at July 31, 2014, the Company did not have assets or liabilities subject to fair value measurement.

 

Loss per share

 

The Company reports basic loss per share in accordance with ASC Topic 260 “Earnings Per Share” (“EPS”). Basic loss per share is based on the weighted average number of common shares outstanding and diluted EPS is based on the weighted average number of common shares outstanding and dilutive common stock equivalents. Basic EPS is computed by dividing net loss (numerator) applicable to common stockholders by the weighted average number of common shares outstanding (denominator) for the period. There are no potentially dilutive securities outstanding and therefore, diluted earnings per share on not presented. All per share and per share information are adjusted retroactively to reflect stock splits and changes in par value.

 

F-7
 

 

Concentration of credit risk

 

The Company places its cash and cash equivalents with a high credit quality financial institution. The Company maintains United States Dollars at a bank in Romania that are not insured. The Company minimizes its credit risks associated with cash by periodically evaluating the credit quality of its primary financial institution.

 

Recently issued accounting pronouncements

 

The Company adopts new pronouncements relating to generally accepted accounting principles applicable to the Company as they are issued, which may be in advance of their effective date. Management does not believe that any pronouncement not yet effective but recently issued by the FASB (including its Emerging Issues Task Force), the AICPA or the SEC would, if adopted, have a material effect on the accompanying financial statements

 

Note 4 Notes payable

 

On December 31, 2012, the Company entered into a note payable in the amount of $17,000. This note is due within 30 days following written demand and bears a monthly interest rate of 1% (12% per annum) commencing January 1, 2013. As at July 31, 2014, the total principal and interest accrued was $20,230.

 

On August 13, 2013, the Company entered into a note payable in the amount of $20,000. This note is due within 30 days following written demand and bears a monthly interest rate of 1% (12% per annum). As at July 31, 2014, the total principal and interest accrued was $22,300.

 

Note 5 Subsequent events

 

The Company evaluated all events or transaction that occurred after July 31, 2014 up through date the Company issued these financial statements and found no subsequent events that needed to be reported.

 

F-8
 

 

FORWARD LOOKING STATEMENTS

 

Statements made in this Form 10-Q that are not historical or current facts are “forward-looking statements” made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 (the “Act”) and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified by the use of terms such as “may,” “will,” “expect,” “believe,” “anticipate,” “estimate,” “approximate” or “continue,” or the negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management’s best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events.

 

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION

 

GENERAL

 

Wishbone Pet Products Inc. was incorporated under the laws of the State of Nevada, U.S. on July 30, 2009. Our registration statement on Form S-1 was filed with the Securities and Exchange Commission was declared effective on February 14, 2013.

 

We intend to commence business operations by developing, manufacturing, marketing, and selling dog waste removal devices. We are currently considered a development stage company. To date, our president, Rami Tabet, has developed a device concept that permits the user to enclose dog waste in a plastic bag this is contained inside of a sealed plastic case. The user can then disposed of the plastic bag without direct contact. To date, we have not manufactured or sold any dog waste removal devices. We are considered to be a “shell company”, which is a company with either no or nominal operations or assets, or assets consisting solely of cash and cash equivalents. An investment in the shares of a shell company should be considered highly illiquid given the resale restrictions that apply to them. In order to continue our business plan, we need to transform our device concept into a working prototype that is suitable for mass production and then enter into an agreement with a suitable third party for manufacture. We then intend to initially distribute our products in North America with a view to expanding our market focus depending on our initial success.

 

RESULTS OF OPERATIONS

 

Our financial statements have been prepared assuming that we will continue as a going concern and, accordingly, do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should we be unable to continue in operation. We expect we will require additional capital to meet our long term operating requirements. We expect to raise additional capital through, among other things, the sale of equity or debt securities.

 

Three-Month Period Ended July 31, 2014 Compared to the Three-Month Period Ended July 31, 2013.

 

Our net loss for the three-month period ended July 31, 2014 was $3,843 (2012: $1,041), which consisted of professional fees of $2,675 (2013: $475), general and administration expenses of $58 (2012: $56), and interest on loans of $1,110 (2012: $510). We did not generate any revenue during either three-month period in fiscal 2014 or 2013. The higher expenses in the current fiscal year primarily relate to an increase in accounting and audit fees, as well as an increase in interest that it accruing on loans that we have accepted.

 

The weighted average number of shares outstanding was 3,500,000 for the three-month periods ended July 31, 2014 and 2013.

 

3
 

 

LIQUIDITY AND CAPITAL RESOURCES

 

As at July 31, 2014, our current assets were $1,082 compared to $4,240 at April 30, 2014. As at July 31, 2014, our current liabilities were $55,447 compared to $54,762 at April 30, 2014. Current liabilities at July 31, 2014 were comprised of $37,000 in loans payable and $18,447 in accounts payable and accrued liabilities.

 

Stockholders’ deficit increased from $50,522 as of April 30, 2014 to $55,447 as of July 31, 2014.

 

Cash Flows from Operating Activities

 

We have not generated positive cash flows from operating activities. For the three-month period ended July 31, 2014, net cash flows used in operating activities were $3,158 consisting of a net loss of $3,843, which was offset by a $685 non-cash component of accounts payable. For the three-month period ended July 31, 2013, net cash flows used in operating activities were $1,106. Net cash flows used in operating activities were $52,918 for the period from our incorporation on July 30, 2009 to July 31, 2014.

 

Cash Flows from Financing Activities

 

We have financed our operations primarily from either the issuance of our shares of common stock or from loans. We did not generate any cash from financing activities in the three-month period ended July 31, 2014 or in the comparative period in fiscal 2013. For the period from our incorporation on July 30, 2009 to July 31, 2014, net cash provided by financing activities was $54,000 received from proceeds from issuance of common stock ($17,000) and from loans ($37,000).

 

PLAN OF OPERATION AND FUNDING

 

We expect that working capital requirements will continue to be funded through a combination of our existing funds and further issuances of securities. Our working capital requirements are expected to increase in line with the growth of our business.

 

Existing working capital, further advances and debt instruments, and anticipated cash flow are expected to be adequate to fund our operations over the next three months. We have no lines of credit or other bank financing arrangements. Generally, we have financed operations to date through the proceeds of the private placement of equity and debt instruments. In connection with our business plan, management anticipates additional increases in operating expenses and capital expenditures relating to: (i) acquisition of inventory; (ii) developmental expenses associated with a start-up business; and (iii) marketing expenses. We intend to finance these expenses with further issuances of securities and director loans. Thereafter, we expect we will need to raise additional capital and generate revenues to meet long-term operating requirements. Additional issuances of equity or convertible debt securities will result in dilution to our current shareholders. Further, such securities might have rights, preferences or privileges senior to our common stock. Additional financing may not be available upon acceptable terms, or at all. If adequate funds are not available or are not available on acceptable terms, we may not be able to take advantage of prospective new business endeavors or opportunities, which could significantly and materially restrict our business operations. We will have to raise additional funds in the next twelve months in order to sustain and expand our operations. 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 have and will continue to seek to obtain short-term loans from our directors, although no future arrangement for additional loans has been made. We do not have any agreements with our directors concerning these loans. We do not have any arrangements in place for any future equity financing.

 

4
 

 

OFF-BALANCE SHEET ARRANGEMENTS

 

As of the date of this report, we do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.

 

GOING CONCERN

 

The independent auditors’ report accompanying our April 30, 2013 financial statements contained an explanatory paragraph expressing substantial doubt about our ability to continue as a going concern. The financial statements have been prepared “assuming that we will continue as a going concern,” which contemplates that we will realize our assets and satisfy our liabilities and commitments in the ordinary course of business.

 

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

 

No report required.

 

ITEM 4. CONTROLS AND PROCEDURES

 

Our management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) that is designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management, including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

 

An evaluation was conducted under the supervision and with the participation of our management of the effectiveness of the design and operation of our disclosure controls and procedures as of July 31, 2013. Based on that evaluation, our management concluded that our disclosure controls and procedures were effective as of such date to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms. Such officer also confirmed that there was no change in our internal control over financial reporting during the three-month period ended July 31, 2014 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

 

5
 

 

PART II. OTHER INFORMATION

 

ITEM 1. LEGAL PROCEEDINGS

 

Management is not aware of any legal proceedings contemplated by any governmental authority or any other party involving us or our properties. As of the date of this Quarterly Report, no director, officer or affiliate is (i) a party adverse to us in any legal proceeding, or (ii) has an adverse interest to us in any legal proceedings. Management is not aware of any other legal proceedings pending or that have been threatened against us or our properties.

 

ITEM 1A. RISK FACTORS 

 

Not applicable.

 

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

 

No report required.

 

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

 

No report required.

 

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

 

No report required.

 

ITEM 5. OTHER INFORMATION

 

No report required.

 

ITEM 6. EXHIBITS

 

Exhibits:

 

31.1   Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 302(a) of the Sarbanes-Oxley Act
     
32.1   Certification of Chief Executive Officer and Chief Financial Officer Under Section 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act.
     
101   Interactive data files pursuant to Rule 405 of Regulation S-T.

 

6
 

 

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.

 

  WISHBONE PET PRODUCTS INC.
   
Dated: September 16, 2014 By: /s/ Rami Tabet
    Rami Tabet,
President and Chief Executive Officer and
Chief Financial Officer

 

7