QUARTERLY REPORT OF FOR THE QUARTER ENDED MARCH 31, 2016

Transcription

1 QUARTERLY REPORT OF PLATFORMS WIRELESS INTERNATIONAL CORPORATION FOR THE QUARTER ENDED MARCH 31, 2016 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 8860 Corbin Avenue Suite 355 Northridge, CA Phone: platformswireless@yahoo.com Website: B. IR Contact 8860 Corbin Avenue Suite 355 Northridge, CA Phone: platformswireless@yahoo.com Website: ITEM 3. SECURITY INFORMATION Trading symbol: PLFM CUSIP: 72765A-10-1 Exact title and class of securities outstanding: As of the period ended MARCH 31, 2016, the capital stock of the company was as follows: Class: Common stock, $ par value; 2

4 Number of shares authorized: 2,400,000,000 shares; Number of shares outstanding: 1,112,613,362 issued and outstanding; Freely tradable shares: 450,000,000; Total number of shareholders of record: 871 Class: Series A Preferred stock, $.001 par value; Number of shares authorized: 50,000,000 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 The company has not executed any securities offering, either public or private, and has not had any in the past five years. 3

5 ITEM 5. FINANCIAL STATEMENTS: PLATFORMS WIRELESS INTERNATIONAL CORPORATION Financial Statements Balance Sheet For the Periods Ended March 31, 2016 & June 30, 2015 Unaudited ASSETS Current Assets Cash on hand, in bank $ 98,503 $ 2,600 Accounts receivable 128,908 - Total current assets 227,411 2,600 Property, plant & Equipment 45,802. Other Assets Prepaid expenses 5,500. Total Other Assets 5,500. Total assets $ 278,713 $ 2,600 See accountants' report and notes to financial statements 4

6 PLATFORMS WIRELESS INTERNATIONAL CORPORATION Financial Statements Balance Sheet For the Periods Ended March 31, 2016 & June 30, 2015 Unaudited LIABILITIES AND STOCKHOLDERS' EQUITY LIABILITIES Current Liabilities Accounts payable 15,300 - Total current liabilities 15,300 - Long-term Liabilities Note payable 730, ,000 Total long-term liabilities 730, ,000 Total liabilities 745, ,000 STOCKHOLDERS' EQUITY Common stock, par value $.001, 2,400,000,000 authorized, 1,112,613,362 issued and outstanding at 12/31/15 and 12/31/14 1,112,613 1,112,613 Series A preferred, par value $.001, 50,000,000. authorized, none issued or outstanding - - Additional paid in capital $ 69,350,644 69,350,644 Accumulated deficit (71,220,657) (71,012,638) Current earnings 290,813 (208,019) Total Stockholders' equity (466,587) (757,400) Total Liabilities and Stockholders' Equity $ 278,713 $ 2,600 See accountants' report and notes to financial statements 5

7 PLATFORMS WIRELESS INTERNATIONAL CORPORATION For the Nine Months Ended March 31, 2016 & March 31, 2015 Unaudited Twelve Months Ended March 31, March 31, Revenue $ 3,691,723 $ - Operating Expenses Commissions 642,382 85,000 Rent 411,442 - Auto expense 408,061 - Insurance 139,012 - Payroll expense 1,016,933 - Professional fees 66, ,000 Office and general 93,473 3,905 Interest & bank fees 58,929 - Advertising & promotion 120,200 - Meals & entertainment 173,074 - Travel 96,237 - Telephne & utilities 86,151 - Amortization 8,906 - Distribution 26,025 - Repairs & maintenance 9,775 - Business licenses 8,925 - Charitable contributions 11,370 - Lease expense 23,375 - Total Expenses 3,400, ,905 Net earnings (Loss) $ 290,813 $ (208,905) Retained earnings (Deficit); Beginning of period (70,841,572) (71,068,820) End of Period $ (70,550,759) $(71,277,725) See accountants report and notes to financials 6

8 PLATFORMS WIRELESS INTERNATIONAL CORPOATION Statement of Cash Flows For the Nine Months Ended March 31, 2016 & March 31, 2015 Unaudited OPERATING ACTIVITIES Net Income (Loss) $ 290,813 $(208,905) Adjustments to reconcile net Income (Loss) to net cash provided by operations Decrease (increase) in accounts receivable (128,908) - Decrease (increase) in accounts payable 15,300 - Decrease (increase) in notes payable - 210,000 Net cash provided by operating activities 177,205 1,095 Investing Activities Prepaid expenses 5,500 Asset acquisition 45,802 - Net cash provided by investment activity (51,302) - Financing Activities Stock sale proceeds - - Increase in notes payable (30,000) - Net cash from financing activity 30,000 - Net cash increase for period 95,903 1,095 Cash at beginning of period 2,600 1,505 Cash at end of period 98,503 2,600 See accountants report and notes to financial statements 7

9 PLATFORMS WIRELESS INTERNATIONAL CORPORATION Statement of Stockholders' Equity MARCH 31, 2016 Unaudited Additional Accumulated. Total Common Stock Paid-in Earnings Stockholders' Shares Amount Capital (Deficit) Equity Balance - 4/30/12 112,613,362 $ 1,112,613 $ 69,350,844 $(70,836,116) $ (372,659) Net income (loss) 2013 (51,352) (51,352) Balance - 4/30/13 1,112,613,362 $ 1,112,613 $ 69,350,844 $(70,887,468) $ (424,011) Net income (loss) 2014 (181,352) (181,352) Balance - 4/30/14 1,112,613,362 $ 1,112,613 $ 69,350,844 $(71,068,820) $ (605,363) Net income (loss) ,182 56,182 Balance - 4/30/15 1,112,613,362 1,112,613 $ 69,350,844 $(71,012,638) $ (549,181) Net income (loss) - 3/31/ , ,813 Balance - 3/31/16 1,112,613,362 1,112,613 69,350,844 (70,721,825) (258,368) See accountants report and notes to financial statements 8

10 PLATFORMS WIRELESS INTERNATIONAL CORPORATION MARCH 31, 2015 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 with in the travel industry. The Company is in 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. These financial statements have been restated to reflect the acquisition by the Company of all assets and business of Travel Mix, Inc. This acquisition was completed on December 14, 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 MARCH 31, 2015, the Company has notes payable of $730,000. ($360,000 Vic Devlaeminck), ($120,000 Icon Partners Ltd), ($180,000 to Hiroko Mori), ($70,000 to Sona Bakajin). 9

11 ITEM 6. SERVICES. DESCRIBE THE ISSUER S BUSINESS, PRODUCTS AND A. DESCRIPTION OF ISSUER S BUSINESS OPERATIONS. The Company Travel Mix Group. (Travelmix.ca - Travelmix.com). Is a Canadian based online travel Agency with sales/marketing offices throughout Canada and Affiliates in Las Vegas, USA. Which provides Canadian, American and International travelers with all possible travel related services online via World Wide Web and also telephone travel agents. Travel Mix offers real time bookings and reservations on packaged vacations. Our web-site has travel related helpful information links and all the necessary travel related content with air tickets, last minute deals, car rentals, hotel reservations, cruises, travel insurance, tickets, attractions and more.. 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. 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 MARCH 31, 2016 COMPARED TO THE PERIOD ENDED MARCH 31, 2015: Revenues: The Company had revenue for the period ended MARCH 31, 2016 of $3,691,723 and no revenue for the period ended MARCH 31, Cost of Revenues: The Company incurred no costs of sales for the period ended MARCH 31, 10

12 2016 and did not incur any costs of sales for the quarter ended MARCH 31, Gross Profit: The Company had gross profit for the period ended MARCH 31, 2016 of $3,691,723 and none for the period ended MARCH 31, Operating Costs: Operating costs consist of the Company s administrative expenses before depreciation and interest. Operating costs for the period ended MARCH 31, 2016 totaled $3,400,910, compared to operating costs of $208,905 for the period ended MARCH 31, Operating Gain (Loss): The Company produced an operating gain for the period ended MARCH 31, 2016 of $290,813 compared to an operating loss 0f $208,905 for the period ended MARCH 31, 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 MARCH 31, 2016, the company had a net gain of $290,813, compared to a net loss of $208,905 for the period ended MARCH 31, Liquidity and Capital Resources: During the period ended MARCH 31, 2016, the Company produce cash or cash equivalents from operations of $95,903. G. OFF-BALANCE SHEET ARRANGEMENTS The Company did not engage in any off-balance sheet arrangements during the fiscal quarter ended MARCH 31, ITEM 7. DESCRIBE THE ISSUER S FACILITIES At this time the Company does not own any real estate and leases office space on a monthto-month basis. ITEM 8. OFFICERS, DIRECTORS AND CONTROL PERSONS A. NAMES OF OFFCERS, DIRECTORS AND CONTROL PERSONS Bill Schaefer-President & CEO, Director. B. LEGAL/DISCIPLINARY HISTORY Please identify whether any of the foregoing persons have, in the last five years, been the subject of: 11

13 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. 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 C. Investor Relations Consultant 12

14 D. Other Advisor(s) None. ITEM 10. OTHER INFORMATION None. ITEM 11. EXHIBITS N/A ITEM 12. CERTIFICATIONS I, Bill Schaefer, certify that: 1. I have reviewed this amended 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: May 18,