QUARTERLY REPORT OF FOR THE QUARTER ENDED SEPTEMBER 30, 2017

Transcription

1 QUARTERLY REPORT OF PLATFORMS WIRELESS INTERNATIONAL CORPORATION FOR THE QUARTER ENDED SEPTEMBER 30, 2017 A NEVADA CORPORATION

2 TABLE OF CONTENTS ITEM 1. EXACT NAME OF THE ISSUER AND ITS PREDECESSOR...2 ITEM 2. ADDRESS OF THE ISSUER S PRINCIPAL EXECUTIVE OFFICES.2 ITEM 3. SECURITY INFORMATION ITEM 4. ISSUANCE HISTORY.3 ITEM 5. FINANCIAL STATEMENTS ITEM 6. DESCRIBE THE ISSUER S BUSINESS OPERATIONS ITEM 7. DESCRIBE THE ISSUER S FACILITIES...11 ITEM 8. OFFICERS, DIRECTORS AND CONTROL PERSONS ITEM 9. THIRD PARTY PROVIDERS ITEM 10. OTHER INFORMATION...13 ITEM 11. EXHIBITS...13 ITEM 12. CERTIFICATIONS

3 ITEM 1. EXACT NAME OF THE ISSUER AND ITS PREDECESSORS The exact name of the company is PLATFORMS WIRELESS INTERNATIONAL CORPORATION. PLATFORMS WIRELESS INTERNATIONAL CORPORATION was originally incorporated under the laws of the State of Nevada on December 2, 1992 and has not had any name changes in the past five years. ITEM 2. ADDRESS OF THE ISSUER S PRINCIPAL EXECUTIVE OFFICES A. Company Headquarters Our principal executive and administrative offices are located at 2777 Steeles Avenue West Unit 11 Toronto, Ontario. Canada M3J 3k5. Phone: travel@travelmix.ca Website: B. IR Contact 2777 Steeles Avenue West Unit 11 Toronto, Ontario. Canada M3J 3k5: travel@travelmix.ca Website: ITEM 3. SECURITY INFORMATION Trading symbol: PLFM CUSIP: 72765A-10-1 Exact title and class of securities outstanding: As of the period ended September 30, 2017, the capital stock of the company was as follows: Class: Common stock, $ par value; Number of shares authorized: 2,400,000,000 shares; 2

4 Number of shares outstanding: 2,062,613,362 issued and outstanding; Freely tradable shares: 450,000,000; Total number of shareholders of record: 870 Class: Series A Preferred stock, $.001 par value Number of shares authorized: 5,000,000 Number of shares issued: None. Class: Series B Preferred stock, $.001 par value Number of shares authorized: 5,000,000 Number of shares issued: None. Transfer Agent: Corporate Stock Transfer 3200 Cherry Creek Drive South Suite 430 Denver, CO Telephone: (303) Is the transfer agent registered under the Exchange Act? Yes. List any restrictions on the transfer of security: None. Describe any trading suspension orders issued by the SEC in the past 12 months: None. ITEM 4. ISSUANCE HISTORY On July 27, 2016, The Company settled a promissory note owed to Icon Partners by issuance of 200,000,000 common shares. On July 27, 2016, The Company settled a promissory note owed to H. Mori by issuance of 300,000,000 common shares. On July 28, 2016, The Company settled a promissory note owed to S. Bakajin by issuance of 100,000,000 common shares. On August 2, 2016, The Company issued 109,500,000 common shares to Vic Devlaeminck for conversion of $68,000 of his convertible promissory note originally issued as compensation. On May 16, 2017, the Company issued 190,500,000 common shares to Vic Devlaeminck for conversion of $22,000 of his convertible promissory note originally issued as compensation. 3

5 ITEM 5. FINANCIAL STATEMENTS: PLATFORMS WIRELESS INTERNATIONAL CORPORATION Financial Statements Balance Sheet For the Periods Ended June 30, 2017 & June 30,2016 Unaudited ASSETS June 30, June 30, Current Assets Cash on hand, in bank $ 1,481 $ 2,393 Accounts receivable Total current assets 2, ,511 Property, plant & Equipment 15,677 39,927 Other Assets Prepaid expenses - - Total Other Assets - - Total assets $ 18,073 $ 43,235 See accountants' report and notes to financial statements 4

6 LIABILITIES PLATFORMS WIRELESS INTERNATIONAL CORPORATION Financial Statements Balance Sheet For the Periods Ended September 30, 2017 & June 30, 2017 Unaudited LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts payable 14,562 14,801 Total current liabilities 14,562 14,801 Long-term Liabilities Note payable 270, ,000 Total long-term liabilities 270, ,000 Total liabilities 284, ,801 STOCKHOLDERS' EQUITY Common stock, par value $.001, 2,400,000,000 at 12/31/16 and 1,200,000,000 at 6/30/16 2,062,613,362 issued and outstanding at 9//30/17 & 6/30/17 2,062,613 2,062,613 Additional paid in capital $ 68,901,013 68,901,013 Accumulated deficit (71,205,192) (71,078,087) Current earnings (24,923) (127,105) Total Stockholders' equity (266,489) (241,566) Total Liabilities and Stockholders' Equity $ 18,073 $ 43,235 See accountants' report and notes to financial statements 5

7 PLATFORMS WIRELESS INTERNATIONAL CORPORATION Statement of Income and Retained Earnings (Deficit) For the Three Months Ended September 30, 2017 & September 30, 2016 Unaudited Three Months Ended Sept. 30, Sept. 30, Revenue $ 111,358 $ 360,431 Operating Expenses Commissions 14,783 48,075 Rent 3,435 6,176 Auto expense 11,852 50,819 Insurance 8,735 44,470 Payroll expense 21,849 86,459 Professional fees 7,843 26,817 Office and general 7,841 31,532 Interest & bank fees 4,384 9,879 Advertising & promotion 9,635 20,549 Meals & entertainment 8,411 37,691 Travel 7,438 29,082 Telephone & utilities 5,981 22,569 Amortization 4,250 2,970 Distribution 2,175 Repairs & maintenance 1,274 3,978 Business licenses 1,550 2,975 Lease expense 2,270 7,820 Total Expenses 121, ,036 Net earnings (Loss) $ (10,173) $ (73,605) Loss on equipment sale (14,750) - Net profit (24,923) (73,605) Retained earnings (Deficit); Beginning of period (71,205,092) (71,078,087) End of Period $ (71,230,015) $ (71,151,692) See accountants report and notes to financials 6

8 PLATFORMS WIRELESS INTERNATIONAL CORPOATION Statement of Cash Flows For the Three Months Ended September 30, 2017 & September 30, 2016 Unaudited OPERATING ACTIVITIES Net Income (Loss) $ (24,923) $ (73,605) Adjustments to reconcile net Income (Loss) to net cash provided by operations Amortization 4,250 2,970 Decrease (increase) in accounts receivable - 134,412 Decrease (increase) in accounts payable (239) (8,934) Decrease (increase) in prepaid expenses 0 - Net cash provided by operating activities 20,912 54,843 Investing Activities Prepaid expenses - Asset acquisition/divestment 20,000 - Net cash provided by investment activity 20,000 - Financing Activities Decrease (increase) in notes payable - (438,000) Stock issuance in note settlements - 709,500 Paid In capital - note settlement - (487,376) Net cash from financing activity - (215,876) Net cash increase for period (912) (161,033) Cash at beginning of period 2, ,714 Cash at end of period 1,481 23,681 See accountants report and notes to financial statements 7

9 PLATFORMS WIRELESS INTERNATIONAL CORPORATION Statement of Stockholders' Equity September 30, 2017 Unaudited Additional Accum. Total Common Stock Paid-in Earnings Stockholders' Shares Amount Capital (Deficit) Equity Balance - 6/30/14 1,162,613,362 $ 1,162,613 $ 69,557,712 $ (71,068,820) $ (348,495) Net income (loss) (408,905) (408,905) Balance - 6/30/15 1,162,613,362 1,162,613 $ 69,557,712 $ (71,477,725) $ (757,400) Net income (loss) , ,638 Balance - 6/30/16 1,162,613,362 1,162,613 69,557,712 (71,078,087) (357,762) Stock settlement issuances 900,000, ,000 (656,699) 243,301 Net income (loss) - 6/30/17 (127,105) (127,105) Balance - 6/30/17 2,062,613,362 2,062,613 68,901,013 (71,205,192) (241,566) Net income (loss) - 9/30/17 (24,923) (24,923) Balance - 9/30/17 2,062,613,362 2,062,613 68,901,013 (71,230,115) (266,489) See accountants report and notes to financial statements 8

10 PLATFORMS WIRELESS INTERNATIONAL CORPORATION SEPTEMBER 30, 2017 NOTES TO FINANCIAL STATEMENTS NOTE 1- NATURE OF OPERATIONS Nature of Operations The Company was incorporated in the state of Nevada December 2, The Company is focused on and organized with a goal of acquiring and managing a diversified portfolio of businesses which currently includes development and testing of various alternative energy products as well as business within the travel industry. NOTE 2- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation These financial statements are presented in United States dollars and have been prepared in accordance with generally accepted accounting principles in the United States of America. NOTE 3-STOCKHOLDERS EQUITY The company s capitalization is 2,400,000,000 common shares with a par value of $.001 per share. NOTE 4 LONG-TERM DEBT As of September 30, 2017, the Company has a note payable of $270,000 Vic Devlaeminck. 9

11 ITEM 6. DESCRIBE THE ISSUER S BUSINESS, PRODUCTS AND SERVICES. A. DESCRIPTION OF ISSUER S BUSINESS OPERATIONS. The Company is focused on the acquisition of a diversified portfolio of businesses emphasizing profitability and long-term growth. Currently, the Company is engaged in the development and testing of various alternative and exotic energy products including a battery charging product for which it has applied for patent protection as well as pursuing a niche presence in the travel industry serving both the domestic and international markets. B. DATE AND STATE OF INCORPORATION The Company was incorporated in the State of Nevada on December 2, C. PRIMARY AND SECONDARY SIC CODES The Company s primary (and only) SIC code is 5063 (Holding Companies). D. THE COMPANY S FISCAL YEAR END DATE The Company s fiscal year ends on June 30. E. PRINCIPAL PRODUCTS OR SERVICES AND THEIR MARKETS The Company focuses its efforts on acquisition and development of various alternative and exotic energy products to the general public. The Company is actively pursuing development and testing of various energy products and expects to secure products for manufacture and marketing in the near future. The Company is also pursuing a niche presence in the growing travel industry. Because of management expertise and business alliances the Company expects to succeed in future ventures in growth industries with vast potential within the domestic U.S. market. F. RESULTS OF OPERATIONS FOR THE PERIOD ENDED SEPTEMBER 30, 2017 COMPARED TO THE PERIOD ENDED SEPTEMBER 30, 2016: Revenues: The Company had revenue for the period ended September 30, 2017 of $111,358 and $360,431 for the period ended September 30, Cost of Revenues: The Company incurred no costs of sales for either the period ended September 30, 2017 or the period ended September 30, Gross Profit: The Company had gross profit for the period ended September 30, 2017 of 10

12 $111,358 and $360,431 for the period ended September 30, Operating Costs: Operating costs consist of the Company s administrative expenses before depreciation and interest. Operating costs for the period ended September 30, 2017 totaled $121,531, compared to operating costs of $434,036 for the period ended September 30, Operating Gain (Loss): The Company produced an operating loss for the period ended September 30, 2016 of $10,173 compared to an operating loss of $73,605 for the period ended September 30, Net Gain (Loss) Before Income Taxes: Net gain or loss before income taxes represents operating gain or loss plus other (non-operating) gain or loss. For the period ended September 30, 2017, the company had a net loss of $24,923 compared to a net loss of $73,605 for the period ended September 30, Liquidity and Capital Resources: During the period ended September 30, 2017, the Company did not produce cash or cash equivalents from operations. G. OFF-BALANCE SHEET ARRANGEMENTS The Company did not engage in any off-balance sheet arrangements during the fiscal Annual ended September 30, ITEM 7. DESCRIBE THE ISSUER S FACILITIES The Company leases office space on a month-to-month basis at $ per month. ITEM 8. OFFICERS, DIRECTORS AND CONTROL PERSONS A. NAMES OF OFFCERS, DIRECTORS AND CONTROL PERSONS Bill Schaefer-President & Director. B. LEGAL/DISCIPLINARY HISTORY Please identify whether any of the foregoing persons have, in the last five years, been the subject of: 1. A conviction in a criminal proceeding or named as a defendant in a pending criminal proceeding (excluding traffic violations and other minor offenses): NO. 11

13 2. The entry of an order, judgment, or decree, not subsequently reversed, suspended or vacated, by a court of competent jurisdiction that permanently or temporarily enjoined, barred, suspended or otherwise limited such person s involvement in any type of business, securities, commodities or banking activities: NO. 3. A finding or judgment by a court of competent jurisdiction (in a civil action), the Securities and Exchange Commission, the Commodity Futures Trading Commission or a state securities regulator of a violation of federal or state securities or commodities law, which finding or judgment has not been reversed, suspended or vacated: NO. 4. The entry of an order by a self-regulatory organization that permanently or temporarily barred, suspended or otherwise limited such person s involvement in any type of business or securities activities: NO. C. BENEFICIAL SHAREHOLDERS None. ITEM 9. THIRD PARTY PROVIDERS A. Legal Counsel Vic Devlaeminck N.E. Hazel Dell Avenue Suite 317 Vancouver, WA PH: (503) vic@vicdevlaeminck.com B. Accountant or Auditor None. C. Investor Relations Consultant None. D. Other Advisor(s) 12

14 None. ITEM 10. OTHER INFORMATION None. ITEM 11. EXHIBITS N/A ITEM 12. CERTIFICATIONS I, Bill Schaefer, certify that: 1. I have reviewed this Quarterly disclosure statement of PLATFORMS WIRELESS INTERNATIONAL CORPORATION 2. Based on my knowledge, this disclosure statement does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this disclosure statement; and 3. Based on my knowledge, the financial statements and other financial information included or incorporated by reference in this disclosure statement, fairly present, in all material respects, the financial condition, results of operations and cash flows of the issuer as of, and for, the periods presented in this disclosure statement. /s/bill Schaefer Bill Schaefer, President Dated: January 31,