UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 10- Q


(Mark One)

 

QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended  March 31, 201 7

 

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  000-29462

 

WORLD HEALTH ENERGY HOLDINGS, INC.
(Name of small business issuer in its charter)

 

Delaware

 

59-2762023

 (State or other jurisdiction of

incorporation or organization)

 

(I.R.S. Employer

Identification No.)


3000 I sland Blvrd #402 Aventura

FL
(Address of principal executive offices)


33160
(Zip Code)


Issuers telephone number :
(212) 884-8395


Securities registered pursuant to Section 12(b) of the Exchange Act:
None


Securities registered pursuant to Section 12(g) of the Exchange Act:


Common Stock, Par Value $0.0007 Per Share


Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes 
☐  No 


Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes 
☐  No 

 

Indicate by check mark whether the issuer (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  ☑  No 

 

 
 

 


Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-Q or any amendment to this Form 10-Q.  

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer

Accelerated filer

Non-accelerated filer

Smaller reporting company

    Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.


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

 

As of July 19, 2017, the Registrant had 89,789,407,996 outstanding shares of its common stock, $0.0007 par value.

 

Transitional Small Business Disclosure Format (check one): Yes  ☐  No 

 

DOCUMENTS INCORPORATED BY REFERENCE


None



 

 
 

 

 

INDEX

 

PART I. - FINANCIAL INFORMATION

 
   

Item 1. Financial Statements

4

   

Item 2 Management's Discussion and Analysis of Financial Condition and Results of Operations

11

   

Item 3 Quantitative and Qualitative Disclosures About Market Risk

13

    

Item 4T.Controls and Procedures

13

   

PART II. - OTHER INFORMATION

 
   

Item 1 Legal Proceedings

13

   

Item 2 Unregistered Sales of Equity Securities and Use of Proceeds

13

   

Item 3 Defaults Upon Senior Securities

14

   

Item 4 Submission of Matters to a Vote of Security Holders

14

   

Item 5 Other Information

14

   

Item 6 Exhibits

15

   

SIGNATURES

16

 

 
 

 

 

PART I. - FINANCIAL INFORMATION

 

ITEM 1. FINANCIAL STATEMENTS

 

INDEX TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

 

Condensed Consolidated Balance Sheets

5

 

 

Condensed Consolidated Statements of Operations

6

 

 

Condensed Consolidated Statements of Cash Flows

7

 

 

Notes to Condensed Consolidated Financial Statements

8

 

 
4

 

 

WORLD HEALTH ENERGY HOLDINGS, INC.

CONDENSED CONSOLIDATED BALANCE SHEET S

 

 

   

March 31,

   

December 31,

 
   

2017 (Unaudited)

   

2016

 
                 

ASSETS

               
                 

CURRENT ASSETS

               

Cash

  $ -     $ -  

Deposits

    3,000       3,000  

TOTAL CURRENT ASSETS

    3,000       3,000  
                 
                 

PROPERTY AND EQUIPMENT

               

Furniture, fixtures and equipment

    4,353       4,353  

Software

    -       -  

Less: Accumulated depreciation

    (4,353 )     (4,353 )
      -       -  
                 

TOTAL ASSETS

  $ 3,000     $ 3,000  
                 

LIABILITIES AND STOCKHOLDERS’ DEFICIT

               
                 

CURRENT LIABILITIES

               

Accounts payable and accrued liabilities

  $ 93,580     $ 89,039  

Due to affiliates

    725,817       725,067  

Related party convertible note payable

    21,474       21,474  
      840,871       835,580  
                 
                 

TOTAL LIABILITIES

    840,871       835,580  
                 

Commitments and Contingencies (see Note 8)

               
                 

STOCKHOLDERS’ DEFICIT

               

Preferred stock, $0.0007 par value, authorized 10,000,000 shares; 2,500,000 issued and outstanding

    1,750       1,750  
                 

Common stock, $0.0007 par value, authorized 110,000,000,000 shares; 89,789,407,996 issued and outstanding at March 31, 2017 and December 31, 2016

    62,852,585       62,852,585  

Discount on common stock

    (49,000,000 )     (49,000,000 )
                 

Additional paid in capital

    11,433,491       11,433,491  

Accumulated deficit

    (26,125,697 )     (26,120,406 )
      (837,871 )     (832,580 )

TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT

  $ 3,000     $ 3,000  

 

See Accompanying Notes to Condensed Consolidated Financial Statements

 

 
5

 

 

WORLD HEALTH ENERGY HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

 

 

   

(Unaudited)

 
   

For the 3 Months Ended

 
   

March 31, 2017

   

March 31, 2016

 
                 

REVENUE

  $ -     $ -  
                 

OPERATING EXPENSES

               

General and administrative

    -       14,409  

Professional fees

    5,291       73,873  

Total expenses

    5,291       88,282  
                 

NET LOSS BEFORE TAXES

    5,291       88,282  
                 

INCOME TAXES

    -       -  
                 

NET LOSS

  $ 5,291     $ 88,282  
                 
                 

LOSS PER WEIGHTED AVERAGE COMMON SHARES

  $ 0.00     $ 0.00  
                 

NUMBER OF WEIGHTED AVERAGE COMMON SHARES OUTSTANDING

    89,789,407,996       89,789,407,996  

 

See Accompanying Notes to Condensed Consolidated Financial Statements.

 

 
6

 

 

WORLD HEALTH ENERGY HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENT S OF CASH FLOWS

 

 

   

For the Three Months Ended

 
   

March 31,

   

March 31,

 
   

2017

   

2016

 
   

(Unaudited)

 

Cash flows from operating activities:

               
                 

Net loss

  $ (5,291 )   $ (88,282 )
                 

Reconciliation of Net Loss to Net Cash Used in Operating Activities

               
                 

Changes in:

               

Deposits

    -       (3,000 )

Accounts payable and accrued liabilities

    4,541       13,766  
                 

Net cash used in operating activities

    (750 )     (77,516 )
                 

Cash flows from investing activities:

               
                 

Deposit on purchase of AMID

    -       (20,000 )
                 

Net cash used in investing activities

    -       (20,000 )
                 

Cash flows from financing activities:

               
                 

Advances from affiliates

    750       95,807  
                 

Net cash from financing activities

    750       95,807  
                 

Change in cash

    -       (1,709 )
                 

Cash, beginning of period

    -       4,054  
                 

Cash, end of period

  $ -     $ 2,345  

 

See Accompanying Notes to Condensed Consolidated Financial Statements.

 

 
7

 

 

WORLD HEALTH ENERGY HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

(1) Nature of Business

 

The Condensed Consolidated Financial Statements include the accounts of World Health Energy Holdings, Inc. (“WHEH”) and its wholly owned subsidiaries, World Health Energy, Inc. (“WHE”) and FSC Solutions, Inc. (FSC), an online software solutions trading company.

 

WHE’s corporate offices are located in Aventura, Florda. World Health Energy’s primary focus is the production of algae using their proprietary GB3000 growth system. The system quickly and efficiently grows algae for the production of biofuels and food protein. Though the Company has been successful in demonstrating the effectiveness of the GB3000 system on a small-scale the company has not yet been able to raise the necessary capital to implement their technologies on a commercial scale. The Company continues to pursue all available options for raising the necessary capital in addition to exploring alternative revenue sources.

 

FSC’s Financial Broker Service Companies will be www.onlinetrade.trade & www.stocks-4you.com. They will be competing with E Trade, www.etrade.com, (market cap $7.01 Billion) and Ameritrade, www.tdamerirade.com, (market cap $19.6 Billion).

 

The online software trading Company, www.fsc.trade, is looking to compete in the financial software market and expects to generate revenues in the second half of 2017. The Company will provide cutting edge complete software solutions for financial institutions, banks and traders.

 

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management of the Company, the accompanying unaudited condensed consolidated financial statements contain all the adjustments (which are of a normal recurring nature) necessary for a fair presentation. Operating results for the three months ended March 31, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017. For further information, refer to the financial statements and the footnotes thereto contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016, as filed with the Securities and Exchange Commission.

 

(2) Basis of Presentation and Consolidation

 

The Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) on the accrual basis of accounting. All significant intercompany accounts and transactions have been eliminated in consolidation. The interim financial statements reflect all normal and recurring adjustments, which are, in the opinion of management, necessary in order to make the financial statements not misleading.

 

(3) Significant Accounting Policies

 

  a) Use of Estimates

 

The preparation of financial statements in conformity with GAAP 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 materially from those estimates.

 

 
8

 

 

b) Loss per share

 

The Company has adopted Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) 260-10-50, Earnings Per Share , which provides for calculation of "basic" and "diluted" earnings per share. Basic earnings per share includes no dilution and is computed by dividing net income or loss available to common shareholders by the weighted average common shares outstanding for the period. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity. Basic and diluted losses per share were the same at the reporting dates as there were no common stock equivalents outstanding at March 31, 2017 or 2016.

 

c) Cash and Cash Equivalents

 

The Company considers all highly-liquid investments with a maturity of three months or less when purchased to be cash equivalents. There were no cash equivalents at March 31, 2017 or December 31, 2016.

 

d) Property & Equipment and Depreciation

 

Property and equipment is stated at cost and was depreciated using the straight line method over the estimated useful lives of the respective assets of three years. Routine maintenance, repairs and replacement costs are expensed as incurred and improvements that extend the useful life of the assets are capitalized. When office equipment is sold or otherwise disposed of, the cost and related accumulated depreciation are eliminated from the accounts and any resulting gain or loss is recognized in operations. At March 31, 2017 and December 31, 2016 property and equipment, valued at $4,353, was fully depreciated.

 

e) Revenue Recognition

 

The Company plans to recognize revenue on arrangements in accordance with Securities and Exchange Commission Staff Accounting Bulletin Topic 13, Revenue Recognition and FASB ASC 605-15-25, Revenue Recognition . In all cases, revenue is recognized only when the price is fixed or determinable, persuasive evidence of an arrangement exists, the service is performed and collectability is reasonably assured.

 

f) Income Taxes

 

Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Additionally, the recognition of future tax benefits, such as net operating loss carry forwards, is required to the extent that realization of such benefits is more likely than not. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the assets and liabilities are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income tax expense in the period that includes the enactment date.

 

In the event the future tax consequences of differences between the financial reporting bases and the tax bases of the Company’s assets and liabilities result in deferred tax assets, an evaluation of the probability of being able to realize the future benefits indicated by such asset is required. A valuation allowance is provided for the portion of the deferred tax asset when it is more likely than not that some or all of the deferred tax asset will not be realized. In assessing the realizability of the deferred tax assets, management considers the scheduled reversals of deferred tax liabilities, projected future taxable income, and tax planning strategies.

 

The Company’s income tax returns are subject to examination by tax authorities. Generally, the statute of limitations related to the Company’s federal and state income tax return is three years from the date of filing. The state impact of any federal changes for prior years remains subject to examination for a period up to five years after formal notification to the states.

 

Management has evaluated tax positions in accordance with FASB ASC 740, Income Taxes , and has not identified any significant tax positions, other than those disclosed.

 

 
9

 

 

g) Recently Issued Accounting Pronouncements

 

The Company reviewed all recent accounting pronouncements issued by the Financial Accounting Standards Board (including its Emerging Issues Task Force), the AICPA and the SEC and they did not or are not believed by management to have a material impact on the Company’s present or future financial statements.

 

(4 ) Going Concern

 

The accompanying Condensed Consolidated Financial Statements have been prepared assuming that the Company will continue as a going concern. The Company’s financial position and operating results raise substantial doubt about the Company’s ability to continue as a going concern, as reflected by the net losses of $26,125,697 accumulated through March 31, 2017. The Condensed Consolidated Financial Statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. Management is presently seeking to raise permanent equity capital in the capital markets to eliminate negative working capital and provide working capital. Failure to raise equity capital or secure some other form of long-term debt arrangement will cause the Company to further increase its negative working capital deficit and could result in the Company having to curtail or cease operations. Additionally, even if the Company does raise sufficient capital to support its operating expenses and generate revenues, there can be no assurances that the revenue will be sufficient to enable it to develop business to a level where it will generate profits and cash flows from operations.

 

( 5 ) Income Taxes

 

The items accounting for the difference between income taxes computed at the federal statutory rate and the provision for income taxes for the three months ended March 31, 2017 and 2016 are as follows:

 

Income tax at federal statutory rate

    (34.00 )%

State tax, net of federal effect

    (3.96 )%
      37.96 %

Valuation allowance

    (37.96 )%

Effective rate

    0.00 %

 

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes.

 

At March 31, 2017 and December 31, 2016, the Company’s only significant deferred income tax asset was a cumulative net tax operating loss of approximately $23 million that is available to offset future taxable income, if any, in future periods, subject to expiration and other limitations imposed by the Internal Revenue Service.  Management has considered the Company's operating losses incurred to date and believes that a full valuation allowance against the deferred tax assets is required at March 31, 2017 and December 31. 2016. The net operating losses began to expire in 2006 and generally are available for 20 years from the date incurred.

 

(6 ) Related Parties

 

At March 31, 2017 and December 31, 2016, the Company had $120,000 and $59,157, respectively, included in Due to affiliates in the accompanying condensed consolidated balance sheets that is due to a stockholder for amounts paid to certain vendors for services rendered. The amounts are non-interest bearing and due upon demand.

 

At March 31, 2017 and December 31, 2016, the Company had $337,841 and $280,336, respectively, included in Due to affiliates in the accompanying condensed consolidated balance sheets that is due to a stockholder and consultant of the Company for services rendered as a business advisor and for amounts paid to certain vendors for services rendered. The amounts are non-interest bearing and due upon demand.

 

At March 31, 2017 and December 31, 2016, the Company had $64,000 included in Due to affiliates in the accompanying condensed consolidated balance sheets that is due to a stockholder and consultant of the Company for services rendered as the previous Chief Executive Officer of the Company. The amounts are non-interest bearing and due upon demand.

 

 
10

 

 

At March 31, 2017 and December 31, 2016, the Company had $0 and $117,598, respectively, included in Due to affiliates in the accompanying condensed consolidated balance sheets that is due to a stockholder for amounts paid to certain vendors for services rendered. The amount is non-interest bearing and due upon demand.

 

At March 31, 2017 and December 31, 2016, the Company had $48,491 included in Due to affiliates in the accompanying condensed consolidated balance sheets that is due to a stockholder and consultant of the Company for amounts paid to certain vendors for services rendered. The amounts are non-interest bearing and due upon demand.

 

At March 31, 2017 and December 31, 2016, the Company had $155,485 included in Due to affiliates in the accompanying condensed consolidated balance sheets that is due to creditors of FSC, a business acquired by the Company during 2015. The amounts are non-interest bearing and due upon demand.

 

(7 ) Convertible Note Payable

 

During 2015, the Company issued a convertible note payable with a third party for $21,474. The note is non-interest bearing and is convertible to common stock at $0.0001 per share (or the comparable rate following any share split or reverse split) on the conversion date. During 2015 the note holder became the CEO and is now a related party. The note is due to be converted in the third Quarter of 2017.

 

(8) Commitments & Contingencies

 

During the normal course of business, the Company may be exposed to litigation. In the event the Company were to become aware of potential litigation, it would evaluate the merits of the case in accordance with ASC 450-20-50, Contingencies . The Company evaluates its exposure to the matter, possible legal or settlement strategies and the likelihood of an unfavorable outcome. If the Company determines that an unfavorable outcome is probable and can be reasonably estimated, it establishes the necessary accruals. At March 31, 2017, the Company is not aware of any contingent liabilities that should be reflected in the accompanying Condensed Consolidated Financial Statements.

 

(9) Business Acquisitions

 

On March 13, 2016, FSC entered into a Stock Purchase Agreement (the “ Agreement ”) with Natalie Stock, Ltd. for the purchase of all of the outstanding shares of Amid Financial Centre, Ltd. (“Amid”), a Mauritius Company that operates as a broker-dealer. The company paid an initial deposit of $20,000.

 

The Closing of the Agreement was subject to customary closing conditions.

 

During 2016, the likelihood of both the acquisition going ahead and repayment of the $20,000 deposit were deemed unlikely by December 31, 2016, and, as a result the $20,000 was written off as an expense in 2016.

 

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

 

The following discussion and analysis should be read in conjunction with our Financial Statements and Notes thereto appearing elsewhere in this Report on Form 10-Q as well as our other SEC filings.

 

Overview

 

The following discussion and analysis should be read in conjunction with the Condensed Consolidated Financial Statements of the Company and the accompanying notes appearing subsequently under the caption "Condensed Consolidated Financial Statements."

 

This report on Form 10-Q contains forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those discussed in the forward-looking statements and from historical results of operations. Among the risks and uncertainties which could cause such a difference are those relating to our dependence upon certain key personnel, our ability to manage our growth, our success in implementing the business strategy, our success in arranging financing where required, and the risk of economic and market factors affecting us or our customers. Many of such risk factors are beyond the control of the Company and its management.

 

 
11

 

 

Management has not been satisfied with the results of its operations in the field of our current endeavors. Due to limited capital resources, it has not been able to properly promote or advertise its products. Moreover, even with increased brand awareness, competition in the field remains intense. As a result the Company is pursuing other business opportunities and has acquired all of the issued and outstanding shares of common stock of World Health. Assuming the Company can raise sufficient finances, the Company will focus its attention on the operations on World Health. In the interim, it will continue with its current operations.

 

Comparison of Operating Results for the Quarter Ended March 31, 2017 to the Quarter Ended March 31, 2016

 

Revenues

 

Revenues for the three month periods ended March 31, 2017 and 2016 were $0.

 

Operating Expenses

 

Operating expenses for the three month period ended March 31, 2017 were $5,291 compared to $88,282 for the three month period ended March 31, 2016. The reason for the decrease is due to there being an decrease in the activities of the Company during the period, in particular relating to the consultancy and other professional fees involved in the development of software thought crucial to the business in the corresponding period in the previous year.

 

We recorded a net operating loss for the three month period ended March 31, 2017 of $5,291 compared to $88,282 for the three month period ended March 31, 2016.

 

Net Income/Loss and Net Income/Loss Per Share

 

Our net loss and net loss per share was $5,291 and $0.00 for the three month period ended March 31, 2017, compared to a $88,282 and $0.00 per share for the three month period ended March 31, 2016.

 

Financial Condition, Liquidity and Capital Resources

 

At March 31, 2017, and December 31, 2016, we had current and total assets of $3,000. We had current and total liabilities of $840,871 as compared to $835,580, at March 31, 2017, and December 31, 2016, respectively. The increase is primarily due to shareholder advances used to fund operations.

 

At March 31, 2017, we had a working capital deficiency of $837,871 as compared with a working capital deficiency of $832,580 at December 31, 2016.

 

We need capital to sustain operations, and no assurance can be given that we will be able to obtain this capital on acceptable terms, if at all. In such an event, this may have a materially adverse effect on our business, operating results and financial condition. If the need arises, we may attempt to obtain funding through the use of various types of short term funding, loans or working capital financing arrangements from banks or financial institutions.

 

Going Concern

The accompanying Condensed Consolidated Financial Statements have been prepared assuming that we will continue as a going concern. We have stockholders deficit of $26,125,697, and a working capital deficiency of $837,871 at March 31, 2017, and net loss from operations of $5,291 for the three month period ended March 31, 2017. These conditions raise substantial doubt about our ability to continue as a going concern. The Condensed Consolidated Financial Statements do not include any adjustments that might be necessary if we are unable to continue as a going concern.

 

 
12

 

 

Critical Accounting Policies

 

Use of Estimates The Condensed Consolidated Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). In preparing the Condensed Consolidated Financial Statements, management is required to make estimates and assumptions that affect the reported amounts on the condensed consolidated balance sheets and condensed consolidated statements of operations for the year then ended. Actual results may differ significantly from those estimates.

 

Net loss per share The Company has adopted FASB ASC 260-10-50, Earnings Per Share , which provides for calculation of "basic" and "diluted" earnings per share. Basic earnings per share includes no dilution and is computed by dividing net income or loss available to common shareholders by the weighted average common shares outstanding for the period. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity. Basic and diluted losses per share were the same at the reporting dates as there were no common stock equivalents outstanding at March 31, 2017 or December 31, 2016.

 

Fair value of financial instruments The carrying values of the Company’s liabilities approximate their fair values due to the short maturity of these instruments.

 

Off-Balance Sheet Arrangements We have not entered into any off-balance sheet arrangements during 2017 and do not anticipate entering into any off-balance sheet arrangements during the next 12 months.

 

 

ITEM 3 - QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

 

The Company is not subject to any specific market risk other than that encountered by any other public company related to being publicly traded.

 

 

ITEM 4T - CONTROLS AND PROCEDURES

 

As required by Rule 13a-15 under the Exchange Act, within the 90 days prior to the filing date of this report, the Company carried out an evaluation of the effectiveness of the design and operation of the Company's disclosure controls and procedures. This evaluation was carried out under the supervision and with the participation of the Company's management, including the Company's President, Chief Executive Officer and Chief Financial Officer. Based upon that evaluation, the Company's President, Chief Executive Officer and Chief Financial Officer concluded that the Company's disclosure controls and procedures are effective. There have been no significant changes in the Company's internal controls or in other factors, which could significantly affect internal controls subsequent to the date the Company carried out its evaluation.

 

Disclosure controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in Company reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Securities and Exchange Commission's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in Company reports filed under the Exchange Act is accumulated and communicated to management, including the Company's Chief Executive Officer and Chief Financial Officer as appropriate, to allow timely decisions regarding required disclosure.  

 

PART II - OTHER INFORMATION

 

ITEM 1 LEGAL PROCEEDINGS

 

None

 

ITEM 2 UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

 

None

 

 
13

 

 

ITEM 3 DEFAULTS UPON SENIOR SECURITIES

 

None

 

ITEM 4 SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

 

None

 

ITEM 5 OTHER INFORMATION

 

None  

 

 
14

 

   

ITEM 6 EXHIBITS

 

(a)

The following sets forth those exhibits filed pursuant to Item 601 of Regulation S-K:

 

Exhibit

Number Descriptions

 

31.1

* Certification of the Chief Executive Officer pursuant to Section 302 of Sarbanes-Oxley Act of 2002.

 

31.2

* Certification of the Acting Chief Financial Officer pursuant to Section 302 of Sarbanes-Oxley Act of 2002.

 

32.1

* Certification of the Chief Executive Officer pursuant to Section 906 of Sarbanes-Oxley Act of 2002.

 

32.2

* Certification of the Acting Chief Financial Officer pursuant to Section 906 of Sarbanes-Oxley Act of 2002.

   

101.INS**

XBRL Instance

 

101.SCH**

XBRL Taxonomy Extension Schema

 

101.CAL**

XBRL Taxonomy Extension Calculation

 

101.DEF**

XBRL Taxonomy Extension Definition

 

101.LAB**

XBRL Taxonomy Extension Labels

 

101.PRE**

XBRL Taxonomy Extension Presentation

______________ 

 

* Filed herewith.

 

 ** XBRL information is furnished and not filed or a part of a registration statement or prospectus for purposes of sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

 

(b) The following sets forth the Company's reports on Form 8-K that have been filed during the quarter for which this report is filed:

 

None

 

 
15

 

   

SIGNATURES

 

Pursuant to the requirements of Section 13 or 15(d) 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. 

 

 

World Health Energy Holdings, Inc.

 

 

   

 

 

 

 

 

Date: July 24, 2017

By:

/s/ Uri Tadelis

 

 

 

Uri Tadelis,

 

 

 

CEO, Director

 

 

 

16 

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