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Peregrine Industries Inc – ‘10-Q’ for 10/31/19 – ‘EX-101.INS’

On:  Friday, 12/20/19, at 12:16pm ET   ·   For:  10/31/19   ·   Accession #:  1262463-19-451   ·   File #:  0-27511

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

12/20/19  Peregrine Industries Inc          10-Q       10/31/19   27:584K                                   Bollman Trisha M/FA

Quarterly Report   —   Form 10-Q   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML     87K 
 2: EX-31       Exhibit 31.1                                        HTML     14K 
 3: EX-31       Exhibit 31.2                                        HTML     14K 
 4: EX-32       Exhibit 32.1                                        HTML     11K 
 5: EX-32       Exhibit 32.2                                        HTML     11K 
18: R1          Cover                                               HTML     44K 
26: R2          Balance Sheets                                      HTML     47K 
21: R3          Balance Sheets (Parenthetical)                      HTML     30K 
15: R4          Statements of Operations                            HTML     26K 
19: R5          Statements of Cash Flows                            HTML     38K 
27: R6          Shareholders Equity                                 HTML     24K 
22: R7          Note 1 - Organization and Operations                HTML     17K 
16: R8          Note 2 - Basis of Presentation and Significant      HTML     21K 
                Accounting Policies                                              
17: R9          Note 3 - Going Concern                              HTML     15K 
25: R10         Note 4 - Related Party Transactions                 HTML     17K 
24: R11         Note 5 - Stockholders' Deficit                      HTML     14K 
13: R12         Note 6 - Contingencies and Commitments              HTML     14K 
20: R13         Note 2 - Basis of Presentation and Significant      HTML     21K 
                Accounting Policies (Policies)                                   
23: XML         IDEA XML File -- Filing Summary                      XML     35K 
12: EXCEL       IDEA Workbook of Financial Reports                  XLSX     18K 
 6: EX-101.INS  XBRL Instance -- pgid-20191031                       XML    105K 
 8: EX-101.CAL  XBRL Calculations -- pgid-20191031_cal               XML     28K 
 9: EX-101.DEF  XBRL Definitions -- pgid-20191031_def                XML     33K 
10: EX-101.LAB  XBRL Labels -- pgid-20191031_lab                     XML    202K 
11: EX-101.PRE  XBRL Presentations -- pgid-20191031_pre              XML    149K 
 7: EX-101.SCH  XBRL Schema -- pgid-20191031                         XSD     31K 
14: ZIP         XBRL Zipped Folder -- 0001262463-19-000451-xbrl      Zip     22K 


‘EX-101.INS’   —   XBRL Instance — pgid-20191031


This Exhibit is an XBRL XML File.


                                                                                                                                                                                
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<dei:EntityFileNumber contextRef="From2019-08-01to2019-10-31"> 000-27511 </dei:EntityFileNumber>
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<p style="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><b>NOTE 1 - ORGANIZATION AND OPERATIONS</b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">Peregrine Industries, Inc. (the "Company") was formed on October 1, 1995 for the purpose of manufacturing residential pool heaters. The Company was formerly located in Deerfield Beach, Florida. Products were primarily sold throughout the United States, Canada, and Brazil. In June 2002, the Registrant and its subsidiaries filed a petition for bankruptcy in the U.S. Bankruptcy Court for the Southern District of Florida. At present, the Company has no business operations and is deemed to be a shell company. The Company had a change in control on July 8, 2013 as a result of the sale by our former principal shareholders, Richard Rubin, Thomas J. Craft, Jr. and Ivo Heiden, of their 324,000 shares of common stock, representing approximately 61.8% of the Company's outstanding common stock, to Dolomite Industries Ltd ("Dolomite"). In connection with the private sale of their shares of common stock to Dolomite on July 2, 2013, Messrs. Rubin and Heiden agreed to waive a total of $224,196 in liabilities owed to them at June 30, 2013. In connection with the change of control transaction, two former principal shareholders transferred and assigned all $195,000 of their two convertible notes to three unaffiliated third parties and one affiliated party. See also note 3. On June 12, 2017, the Board of Directors of the Registrant appointed Mr. Zohar Shpitz as Chief Financial Officer (CFO) of the Registrant. Mr. Shpitz was appointed as CFO in connection with the resignation of Mr. Ofer Naveh as the Registrant's CFO, effective June 19, 2017. On July 21, 2017, new management acquired, 22,477,843 or 97.7% of the issued common restricted shares. The new management is developing a business plan which they anticipate implementing within the current fiscal year.</p>
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<p style="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><b>NOTE 2 - BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES</b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Basis of Presentation</u></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying unaudited interim financial statements of Peregrine Industries, Inc. have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto for the period ended June 30, 2019 contained in the Company’s Form 10K originally filed with the Securities and Exchange Commission on October 1, 2019.  In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim period presented have been reflected herein.  The results of operations for the interim period are not necessarily indicative of the results to be expected for the full year.  Notes to the financial statements which would substantially duplicate the disclosure contained in the audited financial statements for the period ended June 30, 2019, as reported in the Company’s Form 10K, have been omitted.</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0"><u>Use of Estimates:</u></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statement and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from the estimates.<b> </b></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0"><u></u></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0"><u></u></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0"><u></u></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0"><u>Earnings per common share<i>:</i></u></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Basic net loss per share is computed using the weighted average number of common shares outstanding during the period. Diluted net loss per common share is computed using the weighted average number of common and dilutive equivalent shares outstanding during the period. Dilutive common equivalent shares consist of options to purchase common stock (only if those options are exercisable and at prices below the average share price for the period) and shares issuable upon the conversion of issued and outstanding preferred stock. Due to the net losses reported, dilutive common equivalent shares were excluded from the computation of diluted loss per share, as inclusion would be anti-dilutive for the periods presented. There were no common equivalent shares required to be added to the basic weighted average shares outstanding to arrive at diluted weighted average shares outstanding as of October 31, 2019 and July 31, 2019.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u></u></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Recently Adopted Accounting Pronouncements</u></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new pronouncements that have been issued that might have a material impact on its financial position or results of operations.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Related Party Transactions</u></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We consider all who own more than 5% shares to be related parties and record any transactions between them and the Company to be related party transactions and disclose such transactions on notes to the Financial Statements.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
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<p style="font: 12pt Times New Roman, Times, Serif; margin: 0"><u>Use of Estimates:</u></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statement and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from the estimates.<b> </b></p>
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<p style="font: 12pt Times New Roman, Times, Serif; margin: 0"><u>Earnings per common share<i>:</i></u></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Basic net loss per share is computed using the weighted average number of common shares outstanding during the period. Diluted net loss per common share is computed using the weighted average number of common and dilutive equivalent shares outstanding during the period. Dilutive common equivalent shares consist of options to purchase common stock (only if those options are exercisable and at prices below the average share price for the period) and shares issuable upon the conversion of issued and outstanding preferred stock. Due to the net losses reported, dilutive common equivalent shares were excluded from the computation of diluted loss per share, as inclusion would be anti-dilutive for the periods presented. There were no common equivalent shares required to be added to the basic weighted average shares outstanding to arrive at diluted weighted average shares outstanding as of October 31, 2019 and July 31, 2019.</p>
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<p style="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 12pt"><b>NOTE 3 – GOING CONCERN</b></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify">The Company's financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities and commitments in the normal course of business for the foreseeable future. The Company has accumulated losses aggregating $644,040 as of October 31, 2019 and 638,763, as of July 31, 2019 and has insufficient working capital to meet operating needs for the next twelve months, all of which raise substantial doubt about the Company's ability to continue as a going concern.</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify">The financial statements do not include any adjustment relating to the recoverability and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.</p> <p style="font: 12pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">The Company is taking appropriate action to provide the necessary capital to continue its operations. These steps include, but are not limited to: 1) implementation of new business plan 2)focus on sales to minimize the need for capital at this stage; 3) <font style="font-size: 11pt">raising equity financing; 4) continuous focus on reductions in cost where possible.</font></p>
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<p style="font: 11pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt"><b>NOTE 4 – RELATED PARTY TRANSACTIONS</b></p> <p style="font: 11pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify">On July 17, 2017, Peregrine Industries, Inc., issued a total of 22,477,843 of its restricted common shares, par value $0.0001, to Dolomite Holdings Ltd., the corporate parent and principal shareholder of the Registrant. The Shares were issued upon the conversion by Dolomite, effective July 14, 2017, of principal and accrued interest owed by the Registrant to Dolomite evidenced by convertible notes and other short-term debt in the aggregate amount of $443,718, representing all of the liabilities of the Registrant at its fiscal year-ended June 30, 2017. The issuance of the Shares was made in reliance upon the exemptions provided in Section 4(2) of the Securities Act of 1933, as amended and Regulation S promulgated by the United States Securities and Exchange Commission under the Securities Act of 1933, as amended.</p> <p style="font: 11pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"></p> <p style="font: 11pt/107% Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt; text-align: center"><b>PEREGRINE INDUSTRIES, INC<br /> Notes to Financial Statements<br /> For the Three Months ended October 31, 2019 and 2018</b></p> <p style="font: 11pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify">Effective July 21, 2017, Dolomite sold, transferred and assigned a total of 22,477,843 restricted shares of the Registrant's common stock, par value $0.0001 that it acquired upon the conversion of all liabilities owed by the Registrant to Dolomite, to four persons, none of whom were affiliated with the Registrant or with Dolomite. The 22,477,843 Shares represented in excess of 97% of the Registrant's total issued and outstanding Shares at July 21, 2017, resulting in a change of control of the Company.</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 12pt">During the three months ended October 31, 2019 Mace Corporation paid, a total $5,277, directly to service providers compared to $0 for the three months ended October 31, 2018. The advances are unsecured, non-interest bearing and do not have stated repayment terms.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 12pt">On October 31, 2019 Lili Fan was elected to fill the position of CFO, recently vacated by the resignation of John Hanson, who resigned from all officer and director positions he had held. At the same meeting Jeff Rorick and Daniel Slater were elected to the Board of Directors.</p>
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<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 12pt"><b>NOTE 5 – STOCKHOLDERS’ DEFICIT</b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 12pt">Common Stock </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify">The articles of incorporation authorize the issuance of 100,000,000 shares of common stock, par value $0.0001. All issued shares of common stock are entitled to one vote per share of common stock. None have been issued since July 21, 2017.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 12pt">Preferred Stock</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify">The articles of incorporation authorize the issuance of 5,000,000 shares of preferred stock with a par value of $0.0001 per share. None are issued.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify">Stock Based Compensation</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify">There were no grants of employee or non-employee stock or options in either fiscal period ended October 31, 2019 nor July 31, 2019.</p>
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<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 12pt"><b>NOTE 6 – CONTINGENCIES AND COMMITMENTS</b></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify">There are no, known, pending or threatened legal proceedings as of October 31, 2019.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify">The Company has no non-cancellable operating leases.</p>
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</xbrli:xbrl>

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