SOURCE: Profit Planners Management, Inc.

Profit Planners Management, Inc. - 10-Q

 

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

_________________

FORM 10-Q

_________________

 ?    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended: November 30, 2012

or

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

For the transition period from: ______ to ______

_________________

PROFIT PLANNERS MANAGEMENT , INC.

(Exact name of registrant as specified in its charter) 

_________________

Neveda

333-142076

90-0450030

(State or Other Jurisdiction

(Commission

(I.R.S. Employer

of Incorporation or Organization)

File Number)

Identification No.)

350 Madison Avenue ,8th Floor, New York, New York, 10017             
(Address of Principal Executive Offices) (Zip Code)

(908) 788-0077
(Registrant’s telephone number, including area code)

N/A
(Former name or former address and former fiscal year, if changed since last report)

_________________

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  ???????????????????????????????No ???????

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).     Yes  ??????????????    No ?

??????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????

Large accelerated filer  ?

Accelerated filer  ?

Non-accelerated filer  ?

Smaller reporting company  ?

??????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????No ?

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As of January 15, 2013, the issuer had 50,507,416 outstanding shares of Common Stock.

 

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Profit Planners Management, Inc.

 

TABLE OF CONTENTS

 

 

 

 

 

PART I

Page

Item 1.

Condensed Consolidated Financial Statements

 

 

 

 

 

Condensed Consolidated Balance Sheets as of November 30, 2012 (Unaudited) and May 31, 2012 (Audited)

1

 

Condensed Consolidated Statements of Operations for the three months and six months ended November 30, 2012 and 2011 (Unaudited)

2

 

Condensed Consolidated Statements of Cash Flows for the six months ended November 30, 2012 and 2011 (Unaudited)

3

 

Notes to the Condensed Consolidated Financials (Unaudited)

4

 

 

 

Item 2.

Management’s Discussion and Analysis or Plan of Operation

5

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

6

Item 4T

Controls and Procedures

6

 

 

 

 

PART II

 

Item 1.

Legal Proceedings

7

Item 1A.

Risk Factors

7

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

7

Item 3.

Defaults Upon Senior Securities

7

Item 4.

Submission of Matters to a Vote of Security Holders

7

Item 5.

Other Information

7

Item 6.

Exhibits

7

 

 

SIGNATURES

8

  

 

 

 

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PART I.

 

ITEM 1. FINANCIAL INFORMATION

 

Profit Planners Management, Inc.

Condensed Consolidated Balance Sheets

 

 

 

 

 

 

 

 

 

 

 

November 30, 2012

 

May 31, 2012

 

Assets

 

(Unaudited)

 

(Audited)

 

Current assets:

 

 

 

 

 

Cash

 

$

85,447 

 

$

80,537 

 

Accounts receivable

 

 

94,572 

 

 

77,425 

 

Unbilled revenue

 

 

56,000 

 

 

-

 

Other current assets

 

 

13,275 

 

 

11,288 

 

   Total current assets

 

 

249,294 

 

 

169,250 

 

 

 

 

 

 

 

 

 

Net property and equipment

 

 

8,254 

 

 

3,313 

 

 

 

 

 

 

 

 

 

Total Assets

 

$

257,548 

 

$

172,563 

 

 

 

 

 

 

 

 

 

Liabilities and Stockholders' Equity

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

Accounts payable and accrued expenses

 

$

192,299 

 

$ 

141,444 

 

Accounts payable and accrued expenses - related party

 

 

37,145 

 

 

33,150 

 

Total Liabilities

 

 

229,444 

 

 

174,594 

 

 

 

 

 

 

 

 

 

Stockholders' Equity

 

 

 

 

 

 

 

Preferred stock - $.001 par value; 50,000,000 shares authorized; none issued and outstanding

 

 

-

 

 

-

 

Common stock - $.001 par value; 500,000,000 shares authorized; 50,507,416 and 50,407,416 shares issued and outstanding, respectively

 

 

50,507 

 

 

50,406 

 

Common stock - $.001 par value; 370,372 shares subscribed not issued, respectively

 

 

370 

 

 

370 

 

Additional paid-in capital

 

 

151,154 

 

 

144,120 

 

Less: Amount due from subscriber under subscription agreement

 

 

(28,334)

 

 

(33,334)

 

Accumulated deficit

 

 

(145,593)

 

 

(163,593)

 

Net Stockholders' Equity (Deficit)

 

 

28,104 

 

 

(2,031)

 

Total Liabilities And Stockholders' Equity

 

$

257,548 

 

$

172,563 

 

 

See accompanying notes to condensed consolidated financial statements.

 

 

 

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Profit Planners Management, Inc.

Condensed Consolidated Statements of Operations

(Unaudited)

 

 

 

 

Three Months 

Ended

November 30, 

2012

Three Months Ended

November 30, 

2011

Six Months

Ended

November 30, 

2012

Six Months

Ended

November 30, 

2011

 

 

 

 

 

Revenue

$

202,410 

$

141,063

$

453,210

$

187,700

Related parties revenue

 

 

 

 

3,000

   Total revenue

 

202,410 

 

141,063

 

453,210

 

190,700

 

 

 

 

 

 

 

 

 

Staff salaries – project related

 

138,315 

 

25,063

 

257,425

 

25,063

Related parties –projected related

 

 

37,387

 

 

62,375

Other outsourced services

 

4,160 

 

 

9,569

 

   Total cost of revenue

 

142,475 

 

62,450

 

266,994

 

87,438

 

 

 

 

 

 

 

 

 

Gross Profit 

 

59,935 

 

78,613

 

186,216

 

103,262

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

Officer’s compensation

 

22,784 

 

22,532

 

49,071

 

27,032

Consulting & professional

expenses

 

38,078 

 

26,725

 

44,878

 

28,861

Other operating expenses

 

39,826 

 

24,989

 

74,267

 

32,669

Total operating expenses

 

100,688 

 

74,246

 

168,216

 

88,562

 

 

 

 

 

 

 

 

 

Net (Loss) Income

$

(40,753)

$

4,367

$

18,000

$

14,700

 

 

 

 

 

 

 

 

 

Basic and diluted Net income per weighted-average shares common stock

$

(0.00)

$

0.00

$

0.00

$

0.00

 

 

 

 

 

 

 

 

 

Weighted-average number of shares of common stock to be issued and outstanding-Basic

 

50,424,998

 

50,482,446

 

50,416,159

 

50,267,000

 

 

 

 

 

 

 

 

 

Weighted-average number of shares of common stock to be issued and outstanding-Diluted

 

50,424,998 

 

51,223,188

 

51,069,045

 

51,007,742

 

 

 

 

 

 

 

 

 

 

See accompanying notes to condensed consolidated financial statements.

 

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Profit Planners Management, Inc.

Condensed Consolidated Statements of Cash Flows

(Unaudited)

 

 

 

Six Months 

Ended

November 30, 2012

 

Six Months 

Ended

November 30, 2011

 

 

 

 

 

Net cash provided by (used in) operating activities

 

 $

5,475 

 

 $

(28,573)

 

 

 

 

 

 

 

Net cash used in investing activities

 

 

(5,565)

 

 

(1,400)

 

 

 

 

 

 

 

Net cash provided by financing activities

 

 

5,000 

 

 

33,333 

 

 

 

 

 

 

 

Net change in cash

 

 

4,910 

 

 

3,360 

Cash, beginning of period

 

 

80,537 

 

 

37,300 

Cash, end of period

 

$

85,447 

 

$

40,660 

 

See accompanying notes to condensed consolidated financial statements

 

 

 

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Profit Planners Management, Inc.

Notes to Condensed Consolidated Financial Statements

November 30, 2012

 

 

NOTE 1 - BASIS OF PRESENTATION

 

The accompanying unaudited condensed consolidated financial information of Profit Planners Management, Inc. (the Company) have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules and regulations of the United States Securities and Exchange Commission for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all the information and footnotes necessary for a comprehensive presentation of financial position, results of operations, or cash flows. It is management’s opinion, however, that all material adjustments (consisting of normal recurring adjustments) have been made which are necessary for a fair financial statement presentation.

 

The condensed consolidated financial information for the three months and six months ended November 30, 2012 include the accounts of the Company and its wholly-owned subsidiaries and all intercompany balances and transactions have been eliminated in consolidation.

 

The balance sheet at May 31, 2012 has been derived from the audited consolidated financial statements at that date, but does not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements.

 

The unaudited interim financial information should be read in conjunction with the Company’s Form 10-K, which contains the audited consolidated financial statements and notes thereto, together with Management’s Discussion and Analysis, for the year ended May 31, 2012. The interim results for the period ended November 30, 2012 are not necessarily indicative of the results for the full fiscal year.

 

NOTE 2 – NET INCOME (LOSS) PER COMMON SHARE

 

Basic net income (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock and potentially outstanding shares of common stock during each period. There were -0- and 720,372 potentially dilutive shares outstanding as of November 30, 2012 and November 30, 2011, respectively.

 

NOTE 3 – GOING CONCERN

 

As reflected in the accompanying condensed consolidated financial statements, the Company had net income of $18,000 for the six months ended November 30, 2012; however, the Company has minimal historical evidence of positive earnings as evidenced by the accumulated deficit of $145,593 at November 30, 2012. The historical trend of losses raises substantial doubt about the Company’s ability to continue as a going concern.

 

Management believes that the actions presently being taken and the success of future operations will be sufficient to enable the Company to continue as a going concern. These actions include continuing to grow our revenues sufficient to support our cost structure through existing and new clients. In addition, management intends to obtain capital in the near future through additional private placement offerings.

 

There can be no assurance that anticipated revenue growth and the raising of equity will be successful nor is there assurance that the Company’s anticipated financing will be available in the future, at terms satisfactory to the Company. Failure to achieve revenue growth and the equity and financing at satisfactory terms and amounts could have a material adverse effect on the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

 

NOTE 4 – INCOME TAXES

 

The Company has not recorded any income tax expense or benefit for the six months ended November 30, 2012. Any taxable income generated will be offset by net operating losses (“NOL”) generated in previous years. At the present time, management cannot determine if the Company will be able to generate sufficient taxable income to realize the benefit of the NOL carryforwards; accordingly, a valuation allowance has been established to offset the asset.

 

NOTE 5 – STOCKHOLDERS’ EQUITY

 

On September 26, 2012, the board of directors of the Company approved a stock dividend payable to the holders of its issued and outstanding common stock, par value $.001 per share (the “Stock Dividend”). Under the terms of the Stock Dividend approved by the board, the holders of the Company’s common stock as of September 28, 2012 (the “Record Date”) were issued one (1) share of the Registrant’s common stock for each one (1) share owned by such holders on the Record Date. The Stock Dividend was effective on October 10, 2012 (the “Payment Date”).

 

As a result of the Stock Dividend, 25,203,708 shares of the Registrant’s common stock were issued to the Registrant’s shareholders of record as of the Record Date.

 

All periods presented in the accompanying condensed consolidated financial statements have been retroactively adjusted to reflect the issuance of the stock dividend.

 

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

 

Forward-Looking Statements

 

The information in this report contains forward-looking statements. All statements other than statements of historical fact made in this report are forward looking. In particular, the statements herein regarding industry prospects and future results of operations or financial position are forward-looking statements. These forward-looking statements can be identified by the use of words such as “believes,” “estimates,” “could,” “possibly,” “probably,” “anticipates,” “projects,” “expects,” “may,” “will,” or “should” or other variations or similar words. No assurances can be given that the future results anticipated by the forward-looking statements will be achieved. Forward-looking statements reflect management’s current expectations and are inherently uncertain. Our actual results may differ significantly from management’s expectations.

 

The following discussion and analysis should be read in conjunction with our accompanying financial statements and the notes to those financial statements included in this filing. The following discussion includes forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed below and elsewhere in this filing.

 

Operation

 

We are a Nevada Corporation founded in January 2009 with offices in New York, California and Florida.

 

Over the past twelve months our operations have expanded into several business areas. Our current operations are divided into the following revenues:

 

 

·

CFO, Accounting and Tax services;

 

·

Energy and telecom cost reduction services;

 

·

Insurance and healthcare insurance services;

 

·

Business to Business Social Media Platform

 

·

Management Services

 

Our CFO, Accounting and Tax services are currently the main revenue guarantor with more than 95% of our revenues. In the future, we expect this percentage to go down as our other revenues gains traction in the market place.

 

Marketing

 

Our marketing efforts are targeted to small to midsized companies that are known to, located or identified by our finders network. We also utilize our contacts with other professional service firms (law firms, investment bankers, venture capital firms and CPA audit firms) that provide services to the small and middle market sector for referrals of potential clients. We also intend to explore potential acquisitions of small accounting, or other consulting firms, to acquire their customer lists in order to expand our client base. 

 

Currently we are operating Unified Partners as part of the marketing program for our services and products. As new users sign up for the Unified Partners interactive platform, we will use the information gathered from those users to target our marketing to companies that could benefit from our services. We believe that the benefits of Unified Partners will be as a source of potential customers for our other services and products.

 

Our target will be on companies that have sales of less than $100 million and are based in North America. Our industry focus is professional services and products. Although we focus on these industries we will look at opportunities in other industries if it makes economic sense.

 

We currently own and operate the following web-sites.

 

 

www.profitplannersmgt.com

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www.unifiedpartnersgroup.com

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www.enertelplus.com

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www.twinpeaksplus.com

 

 

We use these web-sites as part of our marketing strategy.

 

We believe that these strategies will provide the best results given our limited marketing budget.

 

Critical Accounting Policies  

 

Accounts receivable

 

Accounts receivable represents open invoices from customers. The Company periodically evaluates the collectability of its accounts receivable and considers the need to record or adjust an allowance for doubtful accounts based upon historical collection experience and specific customer information. Actual amounts could vary from the recorded estimates. The Company has determined that as of November 30, 2012, no allowance for doubtful accounts was required because we believe that all receivables will subsequently be collected. The Company does not require collateral to support customer receivables.

 

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Revenue recognition

 

The Company’s revenues are derived from management, financial and accounting advisory services.  The Company will recognize revenue when it is realized or realizable and earned. The Company considers revenue realized or realizable and earned when it has persuasive evidence of an arrangement that the services have been rendered to the customer, the sales price is fixed or determinable, and collectability is reasonably assured.

 

Net income (loss) per common share

 

Basic net income (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock and potentially outstanding shares of common stock during each period. There were -0- potentially dilutive shares outstanding as of November 30, 2012.

 

Results of operations

 

Three and Six Months Ended November 30, 2012 and 2011

 

For the three months ended November 30, 2012 and 2011, the company had revenue of $202,410 and $141,063, respectively. The increase in revenue was mainly due to new third-party customers during the three months ended November 30, 2012 compared to the three months ended November 30, 2011. Cost of revenue for the three months ended November 30, 2012 and 2011 totaled $142,475 and $62,450, respectively. Operating expenses for the three months ended November 30, 2012 and 2011 totaled $100,688 and $74,246, respectively, resulting in a net loss of $40,753 and net income of $4,367, respectively.

 

Cost of revenue for the three months ended November 30, 2012 comprised of staff salaries of $138,315 and outsourced services expense of $4,160. Cost of revenue for the three months ended November 30, 2011 comprised of staff salaries of $25,063 and related-party consulting and professional fees of $37,387. Operating expenses for the three months ended November 30, 2012 comprised of officer compensation for the CEO of $22,784, consulting and professional fees of $38,078, rent expense of $10,484, travel-related costs of $7,435, corporate communications expense of $10,048, filing fees of $4,128, stock compensation expense of $3,385, and other operating expenses of $4,346. For the three months ended November 30, 2011, operating expenses comprised of officer compensation for the CEO of $22,532, consulting and professional fees of $26,725, rent expense of $11,680, web development expense of $4,500, travel-related costs of $1,940, stock compensation expense of $2,344, and other operating expenses for $4,525.

 

For the six months ended November 30, 2012 and 2011, the company had revenue of $453,210 and $190,700, respectively.  Service revenue from related party clients totaled zero and $3,000 for the same periods, respectively. Cost of revenue for the six months ended November 30, 2012 and 2011 totaled $266,994 and $87,438, respectively. Operating expenses for the six months ended November 30, 2012 and 2011 totaled $168,216 and $88,562, resulting in a net profit of $18,000 and $14,700, respectively.

 

Cost of revenue for the six months ended November 30, 2012 comprised of staff salaries of $257,425 and outsourced services expense of $9,569. Cost of revenue for the six months ended November 30, 2011 comprised of staff salaries of $25,063 and related-party consulting and professional fees of $62,375. Operating expenses for the six months ended November 30, 2012 comprised of compensation expense for the CEO of $49,071, professional and consulting fees of $44,878, rent expense of $20,625, travel-related expenses of $13,221, corporate communications expense of $10,941, stock compensation expense of $7,135, filing fees of $5,937, web development expense of $5,507, and other expenses of $10,901. For the six months ended November 30, 2011, operating expenses comprised of officer compensation for the CEO of $27,032, consulting and professional fees of $28,861, rent expense of $13,814, web development expense of $4,500, travel-related costs of $4,664, stock compensation expense of $2,708 and other operating expenses for $6,983.

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Liquidity and Capital Resources

 

As of November 30, 2012, we had cash of $85,447 as compared to cash of $80,537 as of May 31, 2012. Net cash provided in operating activities totaled $5,475 for the six months ended November 30, 2012. Net cash used in operating activities totaled $28,573 for the six months ended November 30, 2011.

 

For the six months ended November 30, 2012, net cash generated from operating activities was attributable to net income of $18,000, a non-cash adjustment for depreciation expense of $625, and stock compensation expense of $7,135, offset by a net increase in operating assets and liabilities of $20,285.

 

For the six months ended November 30, 2011, net cash used in operating activities was attributable to a net income of $14,700 and a non-cash adjustment for stock compensation expense of $2,708, offset by a net increase of operating assets and liabilities of $45,981.

 

In order for us to execute our business plan we will need to raise at least $500,000 in debt or equity. The funds are needed for building out the management team, sales and marketing and working capital. There can be no assurance that we will be able to raise the funds needed to execute our business plan.

 

If we are unable to satisfy our cash requirements we may be unable to proceed with our plan of operations.  We do not anticipate the purchase or sale of any significant equipment. The foregoing represents our best estimate of our cash needs based on current planning and business conditions.  In the event we are not successful in reaching our initial revenue targets, additional funds may be required, and we may not be able to proceed with our business plan for the development and marketing of our core services. Should this occur, we will suspend or cease operations.

 

We anticipate that depending on market conditions and our plan of operations, we may incur operating losses in the foreseeable future.

 

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

 

  N/A

 

ITEM 4T. CONTROLS AND PROCEDURES.

 

Evaluation of Disclosure Controls and Procedures . Under the supervision and with the participation of our management, including our President, Chief Financial Officer and Secretary, we evaluated the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 (the “Exchange Act”)) as of the end of the period covered by this report. Based upon that evaluation, our President, Chief Financial Officer and Secretary concluded that our disclosure controls and procedures as of the end of the period covered by this report were effective such that the information required to be disclosed by us in reports filed under the Securities Exchange Act of 1934 is (i) recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms and (ii) accumulated and communicated to our management to allow timely decisions regarding disclosure. A controls system cannot provide absolute assurance, however, that the objectives of the controls system are met, and no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within a company have been detected.

 

Changes in Internal Control Over Financial Reporting. During the most recent quarter ended November 30, 2011, there has been no change in our internal control over financial reporting (as defined in Rule 13a-15(f) and 15d-15(f) under the Exchange Act) that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

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PART II

 

ITEM 1. LEGAL PROCEEDINGS.

 

We were not a party to any legal proceedings as of the date of filing of this Quarterly Report.

 

ITEM 1A. RISK FACTORS.

 

Our Annual Report on Form 10K for the fiscal year ended May 31, 2012 contains a description of the risk factors relating to our operations and to an investment in our common stock.

 

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

 

We did not issue or sell any equity shares during the fiscal quarter covered by this Quarterly Report.

 

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

 

None

 

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

 

None

 

ITEM 5. OTHER INFORMATION.

 

On September 26, 2012, the board of directors of the Company approved a stock dividend payable to the holders of its issued and outstanding common stock, par value $.001 per share (the “Stock Dividend”). Under the terms of the Stock Dividend approved by the board, the holders of the Company’s common stock as of September 28, 2012 (the “Record Date”) were issued one (1) share of the Registrant’s common stock for each one (1) share owned by such holders on the Record Date. The Stock Dividend was effective and payable on October 10, 2012 (the “Payment Date”).

 

As a result of the Stock Dividend, 25,203,708 shares of the Registrant’s common stock were issued to the Registrant’s shareholders of record as of the Record Date.

 

ITEM 6. EXHIBITS

 

Exhibit Number

 

Description of Exhibit

 

 

 

31.1

 

Certifications required by Rule 13a-14, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

 

 

 

32.1

 

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

 

 

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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.

 

Date: January 14, 2012

Profit Planners Management, Inc.

 

By: /s/ Wesley Ramjeet

 

Wesley Ramjeet
Chief Executive Officer, Chief Financial , Chief Accounting Officer,Officer and Director

 

 

 

 

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Exhibit 31.1

 

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

AND CHIEF FINANCIAL OFFICER

PURSUANT TO SECTION 302 OF THE

SARBANES-OXLEY ACT OF 2002

 

I, Wesley Ramjeet, certify that:

 

 

 

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1.

 

I have reviewed this Form 10-Q of Profit Planners Management, Inc. for the period ended November 30, 2012;

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2.

 

Based on my knowledge, this report 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 report;

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3.

 

Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the small business issuer as of, and for, the periods present in this report;

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4.

 

The small business issuer’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13-a-15(f) and 15d-15(f)) for the small business issuer and have:

 

 

(a)

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the small business issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

 

(b)

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principals;

 

 

(c)

Evaluated the effectiveness of the small business issuer’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

 

(d)

Disclosed in this report any change in the small business issuer’s internal control over financing reporting that occurred during the small business issuer’s most recent fiscal quarter (the small business issuer’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the small business issuer’s internal control over financial reporting; and

 

5.

 

The small business issuer’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the small business issuer’s auditors and the audit committee of the small business issuer’s board of directors (or persons performing the equivalent functions):

 

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the small business issuer’s ability to record, process, summarize and report financial information; and

 

 

(b)

Any fraud, whether or not material, that involved management or other employees who have a significant role in the small business issuer’s internal control over financial reporting.

 

 

Date: January 14, 2012

Profit Planners Management, Inc.

 

By: /s/ Wesley Ramjeet

 

Wesley Ramjeet
Chief Executive Officer, Chief Financial , Chief Accounting Officer,Officer and Director

 

 

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Exhibit 32.1

 

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

AND CHIEF FINANCIAL OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350

 

In connection with this Quarterly Report of Profit Planners Management, Inc. (the “Company”) on Form 10-Q for the period ending November 30, 2012 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Wesley Ramjeet, Chief Executive Officer and Chief Financial Officer of the Company, certify to the best of my knowledge, pursuant to 18 U.S.C. Sec. 1350, as adopted pursuant to Sec. 906 of the Sarbanes-Oxley Act of 2002, that:

 

1.

 

Such Quarterly Report on Form 10-Q for the period ending November 30, 2012, fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

2.

 

The information contained in such Quarterly Report on Form 10-Q for the period ending November 30, 2012, fairly presents, in all material respects, the financial condition and results of operations of Profit Planners Management, Inc.

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Date: January 14, 2012

Profit Planners Management, Inc.

 

By: /s/ Wesley Ramjeet

 

Wesley Ramjeet
Chief Executive Officer, Chief Financial Officer and Director