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, 2015

 

COMMISSION FILE NUMBER: 000-53850

 

MEDBOOK WORLD, INC.

(Exact Name of Registrant as Specified in its Charter)

 

DELAWARE

 

27-1397396

(State of Incorporation)

 

(I.R.S. Employer ID Number)

 

28562 Oso Parkway, Unit D, Rancho

Santa Margarita, CA.  92688

( 949) 933-1964  

(Address and telephone number of principal executive offices)

 

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   x No   o

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company.

 

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   x No   ¨

 

The number of Registrant’s shares of common stock, $0.0001 par value, outstanding as of March 31, 2015 was 11,150,000.

 

 

 
 
 

ITEM 1.  FINANCIAL STATEMENTS

 

The un-audited quarterly financial statements for the period ended March 31, 2015, prepared by the company, immediately follow.

 

MEDBOOK WORLD INC.  

BALANCE SHEETS

 

 

 

March 31,

2015

 

 

September 30,

2014

 

 

 

(Unaudited)

 

 

Audited

 

ASSETS

Current assets:

 

 

 

 

 

 

 

 

Cash

 

$ 175

 

 

$ 175

 

 

 

 

 

 

 

 

 

 

Total assets

 

 

175

 

 

 

175

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS' DEFICIT

 

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

Accounts Payable and Accrued Liabilities

 

 

1,882

 

 

 

600

 

Due to Related Party

 

 

15,996

 

 

 

15,606

 

Due to Unrelated Party

 

 

200,065

 

 

 

200,065

 

Total liabilities

 

 

217,943

 

 

 

216,271

 

 

 

 

 

 

 

 

 

 

Stockholders' deficit:

 

 

 

 

 

 

 

 

Common stock; authorized 100,000,000; 11,150,000 shares at $0.0001 par value

 

 

1,115

 

 

 

1,115

 

Additional Paid in Capital

 

 

65,230

 

 

 

65,230

 

Deficit accumulated

 

 

(284,113 )

 

 

(282,441 )

Total stockholders' deficit

 

 

(217,768 )

 

 

(216,096 )

 

 

 

 

 

 

 

 

 

Total liabilities and stockholders' equity

 

$ 175

 

 

$ 175

 

 

The accompanying notes are an integral part of these financial statements

 

 
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MEDBOOK WORLD INC.

STATEMENTS OF OPERATIONS

(UNAUDITED)

 

 

 

For the Three Month Period Ended

March 31, 2015

 

 

For the Three Month Period Ended

March 31, 2014

 

 

For the Six Month Period Ended

March 31, 2015

 

 

For the Six Month Period Ended

March 31, 2014

 

Operating Expenses:

 

 

 

 

 

 

 

 

 

 

 

 

General and administrative

 

$ 639

 

 

$ 12,215

 

 

$ 1,282

 

 

$ 34,707

 

Total Operating Expenses

 

 

639

 

 

 

12,215

 

 

 

1,282

 

 

 

34,707

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Expense, net

 

 

198

 

 

 

-

 

 

 

390

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss for the period

 

$ (837 )

 

$ (12,215 )

 

$ (1,672 )

 

$ (34,707 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted

 

$ 0.00

 

 

$ 0.00

 

 

$ 0.00

 

 

$ 0.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted

 

 

11,150,000

 

 

 

11,150,000

 

 

 

11,150,000

 

 

 

11,150,000

 

 

The accompanying notes are an integral part of these financial statements

 

 
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MEDBOOK WORLD INC.

STATEMENTS OF CASH FLOWS

(UNAUDITED)

 

 

 

For the Six Months ended

March 31, 2015

 

 

For the Six Months ended

March 31, 2014

 

 

 

 

 

 

 

 

Cash flow from operating activities:

 

 

 

 

 

 

Net loss

 

$ (1,672 )

 

$ (34,707 )

Interest Expense

 

 

390

 

 

 

-

 

Changes in operating assets and liabilities:

 

$ 1,282

 

 

$ (3,200 )

Prepaid Expenses

 

 

-

 

 

 

-

 

Net Cash Used in Operating activities

 

$ 0

 

 

$ (37,907 )

 

 

 

 

 

 

 

 

 

Cash flows from financing activities:

 

 

 

 

 

 

 

 

Proceeds from Related Party Loan

 

 

-

 

 

 

12,000

 

Contributions from Shareholder

 

 

-

 

 

 

(8,000 )

Net cash provided by financing activities

 

 

-

 

 

 

4,000

 

 

 

 

 

 

 

 

 

 

Decrease in cash during the period

 

 

0

 

 

 

(33,907 )

 

 

 

 

 

 

 

 

 

Cash, beginning of period

 

 

175

 

 

 

34,806

 

 

 

 

 

 

 

 

 

 

Cash, end of period

 

$ 175

 

 

$ 899

 

 

 

 

 

 

 

 

 

 

Supplemental disclosure of cash flow information:

 

 

 

 

 

 

 

 

Cash paid during the period

 

 

 

 

 

 

 

 

Taxes

 

$ -

 

 

$ -

 

Interest

 

$ -

 

 

$ -

 

 

The accompanying notes are an integral part of these financial statements

 

 
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MEDBOOK WORLD, INC.

Notes to Financial Statements

March 31, 2015

 

NOTE 1. NATURE AND BACKGROUND OF BUSINESS

 

MedBook World, Inc. (“the Company” or “the Issuer”) was organized under the laws of the State of Delaware on November 17, 2009. The Company was established as part of the Chapter 11 reorganization of AP Corporate Services, Inc. (“AP”). Under AP’s Plan of Reorganization, as confirmed by the U.S. Bankruptcy Court for the Central District of California, the Company was incorporated to: (1) receive and own any interest which AP had in the development of a mail order and on line medical bookseller; and (2) issue shares of its common stock to AP’s general unsecured creditors, to its administrative creditors, and to its shareholders.

 

Management believes the Company lacks the resources to effectively develop such a bookseller on its own at this time and is therefore engaged in a search for a strategic business partner or a merger or acquisition partner with the resources to take the Company in a new direction and bring greater value to its shareholders. The Company has been in the development stage since its formation and has not yet realized any revenues from its planned operations.  

 

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES   

 

a.   BASIS OF ACCOUNTING

 

The accompanying financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) as promulgated in the United States of America.

 

b.   BASIC EARNINGS PER SHARE

 

The Company computes net income (loss) per share in accordance with the FASB Accounting Standards Codification (“ASC”). The ASC specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock.

 

Basic net earnings (loss) per share amounts are computed by dividing the net earnings (loss) by the weighted average number of common shares outstanding.  The equity instruments such as 5,000,000 warrants were not included in the loss per share calculations because the inclusion would have been anti-dilutive.  

 

c. 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 revenues and expenses during the reporting period. Actual results could differ from those estimates.

 

 
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d. CASH and CASH EQUIVALENT

 

Cash and cash equivalents include cash on hand and on deposit at banking institutions as well as all highly liquid short-term investments with original maturities of 90 days or less. As of March 31, 2015 and 2014, the Company had no cash equivalents.

 

f.  STOCK-BASED COMPENSATION

 

The Company records stock-based compensation in accordance with the FASB Accounting Standards Classification using the fair value method. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. Equity instruments issued to employees and the cost of the services received as consideration are measured and recognized based on the fair value of the equity instruments issued.

 

g. INCOME TAXES

 

Income taxes are provided in accordance with the FASB Accounting Standards Classification. A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carry forwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities.

 

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.

 

h. RECENT ACCOUNTING PRONOUNCE MENTS

 

In June 2014, the FASB issued ASU 2014-10, Development Stage Entities (Topic915): Elimination of Certain Financial Reporting Requirements. ASU 2014-10 eliminates the distinction of a development stage entity and certain related disclosure requirements, including the elimination of inception-to-date information on the statements of operations, cash flows and stockholders' equity. The amendments in ASU 2014-10 will be effective prospectively for annual reporting periods beginning after December 15, 2014, and interim periods within those annual periods, however early adoption is permitted.

 

The Company adopted ASU 2014-10 during the years since January 31, 2014, thereby no longer presenting or disclosing any information required by Topic 915.

 

In February 2013, the FASB issued ASU No. 2013-04, Liabilities (Topic 405): Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date.

 

 
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In January 2015, FASB issued Accounting Standards Update (ASU) No. 201501 Income Statement – Extraordinary and Unusual Items, Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items. Eliminating the concept of extraordinary items will save time and reduce costs for preparers because they will not have to assess whether a particular event or transaction event is extraordinary (even if they ultimately would conclude it is not). This also alleviates uncertainty for preparers, auditors, and regulators because auditors and regulators no longer will need to evaluate whether a preparer treated an unusual and/or infrequent item appropriately. This update is effective for fiscal years and interim periods within those fiscal years, beginning after December 15, 2015. Early application is permitted.

 

In April 2015, the FASB issued ASU 2015-03,  Interest—Imputation of Interest (Subtopic 835-30)  (“ASU 2015-03”), as part of the initiative to reduce complexity in accounting standards. The update requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for annual periods beginning after December 15, 2015 and for interim periods within those fiscal years.

 

The amendments in ASU 2013-04 provide guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this update is fixed at the reporting date, except for obligations addressed within existing guidance in U.S. GAAP.

 

The guidance requires an entity to measure those obligations as the sum of the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors and any additional amount the reporting entity expects to pay on behalf of its co-obligors. The guidance in this Update also requires an entity to disclose the nature and amount of the obligation as well as other information about those obligations. The amendment in this standard is effective retrospectively for fiscal years, and interim periods within those years, beginning after December 15, 2013. We are evaluating the effect, if any, adoption of ASU No. 2013-04 will have on our financial statements.

 

In April 2013, the FASB issued ASU No. 2013-07, Presentation of Financial Statements (Top 205): Liquidation Basis of Accounting. The objective of ASU No. 2013-07 is to clarify when an entity should apply the liquidation basis of accounting and to provide principles for the measurement of assets and liabilities under the liquidation basis of accounting, as well as any required disclosures. The amendments in this standard is effective prospectively for entities that determine liquidation is imminent during annual reporting periods beginning after December 15, 2013, and interim reporting periods therein. We are evaluating the effect, if any, adoption of ASU No. 2013-07 will have on our financial statements.  

 

NOTE 3. GOING CONCERN

 

The Company sustained operating losses during the years ended September 30, 2014 and 2013 and the quarters and nine month periods ended March 31, 2015 and 2014. The Company’s continuation as a going concern is dependent on its ability to generate sufficient cash flows from operations to meet its obligations and/or obtain additional financing, as may be required.

 

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern; however, the above condition raises substantial doubt about the Company’s ability to do so. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern. The officers and directors have committed to advancing certain operating costs of the Company.

 

Management plans to seek a strategic partner to assist in the development of the book sales business, or a merger or acquisition partner with the resources to take the Company in a new direction and bring greater value to its shareholders. Management has yet to identify any of these and there is no guarantee that the Company will be able to identify such opportunities in the future.

 

 
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NOTE 4. STOCKHOLDERS' EQUITY

 

The authorized share capital of the Company consists of 100,000,000 shares of common stock with $0.0001 par value, and 20,000,000 shares of preferred stock also with $0.0001 par value. No other classes of stock are authorized.

 

COMMON STOCK:  As of March 31, 2015, there were a total of 11,150,000 common shares issued and outstanding.

 

The Company’s first issuance of common stock, totaling 1,085,000 shares, took place on November 17, 2009 pursuant to the Chapter 11 Plan of Reorganization confirmed by the U.S. Bankruptcy Court in the matter of AP Corporate Services, Inc. (“AP”). The Court ordered the distribution of shares in MedBook World, Inc. to all general unsecured creditors of AP, with these creditors to receive their pro rata share (according to amount of debt held) of a pool of 80,000 shares in the Company. The Court also ordered the distribution of shares in the Company to all shareholders of AP, with these shareholders to receive their pro rata share (according to number of shares held) of a pool of 5,000 shares in the Company.

 

The Court also ordered the distribution of shares in the Company to all administrative creditors of AP, with these creditors to receive one share of common stock in the Company for each $0.10 of AP’s administrative debt which they held. The value of these shares was calculated by the intrinsic value. AP has a total claim of $743,449 by the unsecured creditors and $80,000 cash were settled at the date of liquidation. The remaining claims were settled by the issuance of common stock and warrants issued per court order. The Company allocates the remaining claims at $663,449 to ten different companies or $66,345 were allocated to the common stock and warrants issued per court order.

 

The Court also ordered the distribution of warrants in the Company to all administrative creditors of AP, with these creditors to receive five warrants in the Company for each $0.10 of AP’s administrative debt which they held. These creditors received an aggregate of 5,000,000 warrants consisting of 1,000,000 “A Warrants” each convertible into one share of common stock at an exercise price of $1.00; 1,000,000 “B Warrants” each convertible into one share of common stock at an exercise price of $2.00; 1,000,000 “C Warrants” each convertible into one share of common stock at an exercise price of $3.00; 1,000,000 “D Warrants” each convertible into one share of common stock at an exercise price of $4.00; and 1,000,000 “E Warrants” each convertible into one share of common stock at an exercise price of $5.00. All warrants are exercisable at any time prior to January 4, 2014. This warrant distribution also took place on November 17, 2009.

 

Also on November 17, 2009 the Officers of the Company and the Company’s counsel acquired a total of 10,065,000 common shares as founders shares and it is recorded as a discount to common stock.

 

As a result of these issuances there were a total 11,150,000 common shares issued and outstanding, and a total of 5,000,000 warrants to acquire common shares issued and outstanding, at November 17, 2009 and also at September 30, 2014 (latest year end), and also at March 31, 2015 (latest quarter end).

 

PREFERRED STOCK:  The authorized share capital of the Company includes 20,000,000 shares of preferred stock with $0.0001 par value. As of March 31, 2015 no shares of preferred stock had been issued and no shares of preferred stock were outstanding.

 

 
8
 

 

NOTE 5. NET LOSS PER SHARE

 

The computation of loss per share for the three months ended March 31, 2015 and 2014 is as follows:

 

 

 

March 31, 2015

 

 

March 31, 2014

 

INCOME/LOSS PER COMMON SHARE, BASIC

 

 

 

 

 

 

Numerator Net income (loss)

 

$ (837 )

 

$ (12,215 )

Denominator Weighted-average shares

 

 

11,150,000

 

 

 

11,150,000

 

Net loss per common share

 

$ (0.000 )

 

$ (0.001 )

 

For the period from inception (November 17, 2009) to March 31, 2015 there were 5,000,000 shares issuable upon exercise of warrants, however the exercise prices are such that issuance of these shares would be non-dilutive. Thus diluted earnings per share were the same as basic earnings per share at all times.

 

NOTE 6. INCOME TAXES

 

The Company has had no business activity and made no U.S. federal income tax provision since its inception on November 17, 2009.

 

NOTE 7. RELATED PARTY TRANSACTIONS

 

On May 7, 2014, the Company issued a note of $15,000 payable to a major shareholder. The note bears 5% annual interest and due on demand. The Company accrued interest of $198 on the note for the three months ended March 31, 2015; and during the three months ended December 31, 2013, the Company received $6,000 to cover its expenses. As of March 31, 2015 and September 30, 2014, the balances of due to related party were $15,996 and $15,606, respectively.

 

The Company neither owns nor leases any real or personal property. The officers and directors of the Company are involved in other business activities and may, in the future, become involved in other business opportunities. If a specific business opportunity becomes available, such persons may face a conflict in selecting between the Company and their other business interests. The Company has not formulated a policy for the resolution of such conflicts.

 

 
9
 

 

NOTE 8. CONVERTIBLE LOAN/RECLASSIFICATION

 

On July 24, 2011 the Company entered in to a convertible promissory note(s) and received advances from an unrelated party in the amount of $200,065 this note is non-interest bearing, has a conversion price of $0.01 and maybe converted only in part up to 9.9% of the issued and outstanding shares at one time, and is payable upon demand. As March 31, 2015 no amounts have been paid to the note holder and no conversions have taken place.

 

Originally it was thought that the advances and requisite convertible promissory note was from a related party and was later determined that the advances and note were from an unrelated party and has since been reclassified as such as of September 30, 2014.

 

NOTE 9. WARRANTS  

 

On November 17, 2009 (inception), the Company issued 5,000,000 warrants exercisable into 5,000,000 shares of the Company’s common stock. These warrants were issued per order of the U.S. Bankruptcy Court in the matter of AP Corporate Services, Inc. (“AP”) to the administrative creditors of AP. These creditors received an aggregate of 5,000,000 warrants consisting of 1,000,000 “A Warrants” each convertible into one share of common stock at an exercise price of $1.00; 1,000,000 “B Warrants” each convertible into one share of common stock at an exercise price of $2.00; 1,000,000 “C Warrants” each convertible into one share of common stock at an exercise price of $3.00; 1,000,000 “D Warrants” each convertible into one share of common stock at an exercise price of $4.00; and 1,000,000 “E Warrants” each convertible into one share of common stock at an exercise price of $5.00. All warrants were originally exercisable at any time prior to January 4, 2014, however on December 27, 2013 the Board of Directors voted to extend them by one year to January 4, 2015. As of the date of this report, no warrants have been exercised.

 

The value of these shares was calculated by the intrinsic value. AP has a total claim of $743,449 by the unsecured creditors and $80,000 cash were settled at the date of liquidation. The remaining claims were settled by the issuance of common stock and warrants issued per court order. The Company allocates the remaining claims at $663,449 to ten different companies or $66,345 were allocated to the common stock and warrants issued per court order.

 

NOTE 10. SUBSEQUENT EVENTS

  

On September 23, 2015 Daniel Masters resigned his positions as an officer and director of MedBook World Inc.

 

On September 29, 2016 Mr. Kenneth Beam CPA was appointed to the Board of Directors and as an Officer and Director in the capacity of Secretary, Treasurer and CFO.

 

 
10
 

 

ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

 

FORWARD-LOOKING STATEMENTS

 

The discussion contained herein contains "forward-looking statements" that involve risk and uncertainties. These statements may be identified by the use of terminology such as "believes," "expects," "may," "should" or anticipates" or expressing this terminology negatively or similar expressions or by discussions of strategy. The cautionary statements made in this Form 10-Q should be read as being applicable to all related forward-looking statements wherever they appear in this Form 10-Q. Our actual results could differ materially from those discussed in this report.

 

BUSINESS AND PLAN OF OPERATION

 

MedBook World, Inc. (the "Company"), was incorporated on November 17, 2009 under the laws of the State of Delaware. The Company was established as part of the Chapter 11 reorganization of AP Corporate Services, Inc. (“AP”). Under AP’s Plan of Reorganization, as confirmed by the U.S. Bankruptcy Court for the Central District of California, the Company was incorporated to: (1) receive and own any interest which AP had in the development of a mail order and on line medical bookseller; and (2) issue shares of its common stock to AP’s general unsecured creditors, to its administrative creditors, and to its shareholders in order to enhance their opportunity to recover from the bankruptcy estate.

 

Management believes the Company lacks the resources to effectively develop such a bookseller on its own at this time and is therefore engaged in a search for a strategic business partner or a merger or acquisition partner with the resources to take the Company in a new direction and bring greater value to its shareholders. The Company has been in the development stage since its formation and has not yet realized any revenues from its planned operations.

 

LIQUIDITY AND CAPITAL RESOURCES

 

As of March 31, 2015 we had assets of $ 175, all in cash, and we had liabilities of $217,943 which consisted of $15,996 owing on amounts due to related parties and 200,065 in amounts owing to unrelated parties and $1,882 in accounts payable. As of September 30, 2014, our last audit date, we had assets of $175 all cash, and we had liabilities of $216,271 of which sum of $600 was accounts payable and $215,671 was the balance of amounts due to related and unrelated parties. At March 31, 2015 we had an accumulated deficit of $284,113. We will, in all likelihood, continue to sustain operating expenses without corresponding revenues, at least until the closing of a merger with or acquisition of an operating business.

 

We are dependent upon our officers and shareholders to meet any expenses that may occur. Our officers and shareholders have agreed to provide the necessary funds, without interest, for the Company to comply with the Securities Exchange Act of 1934, as amended, provided that they are officers and shareholders of the Company when the obligation is incurred. All advances are interest-free and due on demand.

 

RESULTS OF OPERATIONS

 

The Company has no current operations and does not have any revenues or earnings from operations. Moreover, the Company has had no operations and no revenues since its inception on November 17, 2009, and no operations will develop unless and until the Company is successful in its plan to merge with or acquire an operating business.

 

 
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GOING CONCERN

 

The accompanying financial statements are presented on a going concern basis. The company's financial condition raises substantial doubt about the Company's ability to continue as a going concern.

 

The Company has limited cash and no other material assets and it has no operations or revenues from operations. It is relying on advances from stockholders, officers and directors to meet its limited operating expenses.

 

OFF-BALANCE SHEET ARRANGEMENTS

 

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 is material to investors.

 

ITEM 4. CONTROLS AND PROCEDURES

 

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES

 

Our management team, under the supervision and with the participation of our principal executive officer and our principal financial officer, evaluated the effectiveness of the design and operation of our disclosure controls and procedures as such term is defined under Rule 13a-15(e) promulgated under the Exchange Act, as of the last day of the fiscal period covered by this report, March 31, 2015. The term disclosure controls and procedures means our controls and other procedures that are 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 SEC's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is accumulated and communicated to management, including our principal executive and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure. Based on this evaluation, our principal executive officer and principal financial officer concluded as of the evaluation date that our disclosure controls and procedures were effective such that the material information required to be included in our Securities and Exchange Commission reports was accumulated and communicated to our management, including our principal executive officer and principal financial officer, recorded, processed, summarized and reported within the time periods specified in Securities and Exchange Commission rules and forms relating to our company, particularly during the period when this report was being prepared.

 

CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING

 

There have been no changes in our internal control over financial reporting during the period ended March 31, 2015 that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

 

 
12
 

 

PART II - OTHER INFORMATION

 

ITEM 1. LEGAL PROCEEDINGS

 

None.

 

ITEM 1A. RISK FACTORS

 

There have been no material changes to the risks to our business from those described in our Form 10-K filing as filed with the SEC on October 27, 2016.

 

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

 

None.

 

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

 

None.

 

ITEM 4. MINING DISCLOSURES

 

None

 

ITEM 5. OTHER INFORMATION

 

None.

 

ITEM 6. EXHIBITS

 

No.

 

Description

 

 

 

31.1 Certification of Chief Executive Officer required by Rule 13a-14(a) or Rule 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

 

 

31.2 Certification of Chief Financial Officer required by Rule 13a-14(a) or Rule 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

 

 

32.1 Certification of Chief Executive Officer pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

 

 

32.2 Certification of Chief Financial Officer pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

 

 

101 The following materials from the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2015, formatted in XBRL (eXtensible Business Reporting Language); (i) Balance Sheets at March 31, 2015 and September 30, 2014, (ii) Statement of Operations for the three months ended March 31, 2015, (iii) Statement of Cash Flows for the three months ended March 31, 2015, and (iv) Notes to Financial Statements.

 

 
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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.

 

 

MEDBOOK WORLD, INC.

       
Date: November 15, 2016 By: /s/ Frederick Da Silva

 

 

Frederick Da Silva  
    President, CEO and Director  
       

 

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