UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB
(Mark One)
[ X ]
QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the Quarter Ended:
March 31, 2004
[ ]
TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _____________ to _____________
Commission file number: 0-10147
DIATECT INTERNATIONAL CORPORATION
_______________________________________________________________________________
(Name of Small Business Issuer in its charter)
California | 82-0513109 |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
875 S Industrial Parkway, Heber City, Utah 84032
(435) 654-4370
_______________________________________________________________________________
(Address and telephone number of registrant’s principal executive offices and principal
place of business)
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), or (2) has been subject to such filing requirements for the past 90 days.
Yes
[ X ]
No
[ ]
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.
Common stock, No Par Value | 65,968,598 |
Title of Class | Number of Shares Outstanding as of March 31, 2004 |
PART I
FINANCIAL INFORMATION
ITEM 1.
FINANCIAL STATEMENTS
DIATECT INTERNATIONAL CORP.
FINANCIAL STATEMENTS
(UNAUDITED)
The accompanying financial statements have been prepared by the Company, without audit, in accordance with the instructions to Form 10-QSB pursuant to the rules and regulations of the Securities and Exchange Commission and, therefore may not include all information and footnotes necessary for a complete presentation of the financial position, results of operations, cash flows, and stockholders' equity in conformity with generally accepted accounting principles. In the opinion of management, all adjustments (which include only normal recurring accruals) necessary to present fairly the financial position and results of operations for the periods presented have been made. These financial statements should be read in conjunction with the accompanying notes, and with the historical financial information of the Company.
Diatect International Corp.
Consolidated Balance Sheets
March 31, 2004 | December 31, | |
(Unaudited) | 2003 |
ASSETS | ||
CURRENT ASSETS | ||
Cash | $ 50,510 | $ 265 |
Accounts receivable | ||
Net allowance for doubtful accounts | 174,196 | 113,724 |
Prepaid expense | 161,084 | - |
Inventories | 981,575 | 1,040,508 |
Total Current Assets | 1,364,664 | 1,154,497 |
PROPERTY, PLANT AND EQUIPMENT | ||
Mining property | 940 | 940 |
Land | 150,000 | 150,000 |
Building | 725,500 | 725,500 |
Computer equipment & software | 76,371 | 76,370 |
Office furniture & equipment | 66,199 | 66,199 |
Manufacturing equipment | 300,519 | 297,354 |
Less accumulated depreciation | (211,683) | (189,019) |
Total Property, Plant and Equipment | 1,107,846 | 1,127,344 |
OTHER ASSETS | ||
Deposits | 53,694 | - |
Note receivable, from related party | 12,000,000 | 12,000,000 |
Patent | 8,500 | 8,500 |
Investment in EPA labels, net of amortization | 1,736,322 | 1,736,322 |
Total Other Assets | 13,798,516 | 13,744,822 |
TOTAL ASSETS | $ 16,271,026 | $ 16,026,663 |
LIABILITIES AND STOCKHOLDERS EQUITY | ||
CURRENT LIABILITIES | ||
Accounts payable | $ 685,093 | $ 592,037 |
Accrued payroll and taxes | 79,576 | 84,381 |
Lease payable – current | 13,807 | 13,807 |
Lines of credit | 112,769 | 113,358 |
Interest payable | 15,811 | 13,507 |
Other accrued liabilities | 21,476 | 21,476 |
Settlements payable | 60,543 | 136,709 |
Notes payable | 513,593 | 605,637 |
Mortgage note payable | 847,000 | - |
Total Current Liabilities | 2,349,668 | 1,580,912 |
LONG-TERM DEBT | ||
Mortgage note payable | - | 847,000 |
Notes payable | 3,160,354 | 3,223,630 |
Settlements payable | 288,594 | 174,971 |
Total Long-Term Debt | 3,448,948 | 4,245,601 |
COMMITMENTS AND CONTINGENCIES | 200,520 | 200,520 |
STOKHOLDERS’ EQUITY | ||
Common stock, no par value; 100,000,000 shares authorized; | ||
66,662,198 and 62,380,697 shares issued and outstanding, respectively. | 18,836,678 | 18,053,211 |
Common stock subscribed | - | (75,000) |
Stock options | 210,635 | 210,635 |
Accumulated deficit | (8,775,423) | (8,189,216) |
Total Stockholders’ Equity | 10,271,890 | 9,999,630 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 16,271,026 | $ 16,026,663 |
See condensed notes to interim consolidated financial statements.
Diatect International Corp.
Consolidated Statements of Operations
Three Months Ended |
March 31, 2004 | December 31, | |
(Unaudited) | 2003 |
REVENUES, net | $ 209,587 | $ 130,453 |
COST OF SALES | 90,074 | 67,639 |
GROSS PROFIT | 119,513 | 62,814 |
OPERATING EXPENSES | ||
Salaries, wages and benefits | 138,351 | 211,551 |
Executive compensation | 56,538 | 53,503 |
Other operating expense | 92,386 | 75,288 |
Consulting | 72,347 | - |
Legal and professional fees | 50,324 | 41,771 |
Advertising and promotion | 108,775 | 68,610 |
Bad debts | 8,634 | 45,000 |
Depreciation and amortization | 22,664 | 24,105 |
Office expenses | 11,459 | 20,749 |
Travel | 15,864 | 43,190 |
Fees and licenses | 17,543 | 9,964 |
Insurance | 7,169 | 6,324 |
Telephone | 5,613 | 3,573 |
Total Operating Expenses | 607,667 | 603,629 |
OPERATING LOSS | (488,154) | (540,815) |
OTHER INCOME (EXPENSES) | ||
Gain from termination of debt | 76,166 | - |
Interest income | - | 156 |
Interest and finance fees | (174,219) | (195,682) |
Donations | - | - |
Total Other Income (Expenses) | (98,053) | (195,526 |
INCOME (LOSS) BEFORE INCOME TAXES | (736,341) |
INCOME TAXES | - | - |
NET INCOME (LOSS) | $ �� (586,207) | $ (736,341) |
NET INCOME (LOSS) PER COMMON SHARE, | ||
BASIC INCOME (LOSS) PER SHARE | $ (0.01) | $ (0.02) |
DILUTED INCOME PER SHARE | $ - | $ - |
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC | $ 64,775,268 | $ 46,187,058 |
See condensed notes to interim consolidated financial statements.
Diatect International Corp.
Consolidated Cash Flow Statements
Three Months Ended |
March 31, 2004 | March 31, 2003 | |
(Unaudited) | (Unaudited) |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (586,207) | $ (736,341) |
Adjustments to reconcile net loss to net cash used by operating activities: | ||
Gain from debt termination | (76,166) | - |
Depreciation and amortization | 22,664 | - |
Issuance of stock for current interest | 1,507 | - |
Issuance of stock for expenses | 65,545 | - |
Issuance of stock for financing costs | 80,320 | - |
Issuance of stock for consulting services | 32,347 | 5,040 |
Changes in assets and liabilities: | ||
Accounts receivable | (57,771) | (4,311) |
Inventories | 58,933 | - |
Deposits | - | 28,500 |
Accounts payable & accrued expenses | 88,251 | - |
Interest payable | 66,176 | 69,186 |
NET CASH FLOWS USED BY OPERATING ACTIVITIES | (304,401) | (637,926) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchase of property, plant and equipment | (3,165) | - |
NET CASH FLOWS USED BY INVESTING ACTIVITIES | (3,165) | - |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from lines of credit | 1,805 | - |
Payments on lines of credit | (2,394) | - |
Issuance of common stock for cash | 353,400 | - |
Net payment of notes payable | - | (400,516) |
Net proceeds from notes payable | 5,000 | 869,000 |
NET CASH FLOWS PROVIDED BY FINANCING ACTIVITIES | 357,811 | 468,484 |
NET INCREASE (DECREASE) IN CASH | 50,245 | (169,442) |
CASH AT BEGINNING OF YEAR | 265 | - |
CASH AT END OF YEAR | $ 50,510 | $ (169,442) |
See condensed notes to interim consolidated financial statements.
Diatect International Corp.
Notes to the Interim Consolidated Financial Statements
March 31, 2004
NOTE 1
BASIS AND PRESENTATION
The foregoing unaudited interim financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-QSB and Regulation S-B as promulgated by the Securities and Exchange Commission. Accordingly, these financial statements do not include all of the disclosures required by generally accepted accounting principles for complete financial statements. These unaudited interim financial statements should be read in conjunction with the audited financial statements for the year ended December 31, 2003. In the opinion of management, the unaudited interim financial statements furnished herein include all adjustments, all of which are of a normal recurring nature, necessary for a fair statement of the results for the interim period presented.
The preparation of financial statements in accordance with generally accepted accounting principles requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities known to exist as of the date the financial statements are published, and the reported amounts of revenues and expenses during the reporting period. Uncertainties with respect to such estimates and assumptions are inherent in the preparation of the Company's financial statements; accordingly, it is possible that the actual results could differ from these estimates and assumptions that could have a material effect on the reported amounts of the Company's financial position and results of operations.
Operating results for the three-month period ended March 31, 2004 are not necessarily indicative of the results that may be expected for the year ending December 31, 2004.
NOTE 2
ORGANIZATION AND DESCRIPTION OF BUSINESS
Diatect International Corp's principal business activities primarily consist of developing and marketing pesticide products. Diatect International has its principal business located in Heber, Utah with manufacturing, marketing, sales, and corporate offices located there.
NOTE 3
INVENTORIES
Inventories at March 31, 2004 and December 31, 2003 consist of the following:
March 31, 2004 | December 31, 2003 |
Raw Materials | $ 64,519 | $ 56,719 |
Packaging Materials | 18,982 | 13,048 |
Finished Goods | 898,074 | 970,742 |
Total | $ 981,575 | $ 1,040,508 |
Finished goods consist of different forms of application of pesticide products.
NOTE 4
NOTES PAYABLE
At March 31, 2004 current and long-term notes payable consisted of the following:
Creditor and Conditions | December 31, 2003 |
Balance, December 31, 2003 | $ 3,715,644 |
David L. or Eileen S. Russell, (shareholders of the Company), unsecured, interest at 10%, convertible to common stock at the rate of $0.25 per share from May 21, 2003 through November 21, 2003, dated May 20, 2003, due on May 1, 2005. | 6,129 |
David L. or Eileen S. Russell, (shareholders of the Company), unsecured, interest at 10%, convertible to common stock at the rate of $0.25 per share from October 2, 2002 through April 2, 2003, dated October 1, 2002, due on May 1, 2005. | 3,125 |
George H. Henderson, (a shareholder of the Company), unsecured, interest at 10%, dated April 14, 2000, due on December 31, 2000, amended on September 20, 2001, payable in principal installments of $5,000 per month commencing January 15, 2002. Note paid in 2004 | (40,000) |
Hyrum L. & Helen Mae Andrus, (shareholders of the Company), interest at 8%, dated April 24, 2002, due on June 24, 2002. Renegotiated interest at 10%, dated July 10, 2003, due on demand. Note paid in 2004. | (38,000) |
Brian S. and Roxanne R. Clark, (shareholders of the Company), unsecured, interest at 10%, convertible to common stock at the rate of $0.20 per share from October 31, 2002 through April 30, 2003, dated October 30, 2002, due on April 30, 2003. Paid in full 2004 | (6,000) |
Brian S. and Roxanne R. Clark, (shareholders of the Company), unsecured, interest at 10%, convertible to common stock at the rate of $0.25 per share from June 26, 2003 thereon, dated June 25, 2002, due on demand. Paid in full 2004. | (4,798) |
PJRM, (shareholders of the Company), unsecured, interest at 10%, convertible to common stock at the rate of $0.20 per share anytime prior to May 4, 2004, dated October 31, 2003, due on May 1, 2004. Paid in full 2004. | (12,500) |
Interest payable in more than one year that applies to long-term notes payable | (50,346) |
Total notes payable | 3,673,947 |
Current portion of notes payable | 513,593 |
Total long-term notes | $ 3,160,354 |
At December 31, 2003 $605,637 was considered short-term notes payable. At March 31, 2004 $513,593 was considered short-term.
Total interest notes payable | $ 66,157 |
Less interest deemed to be long-term and payable in more than one year | 50,346 |
Current interest payable March 31, 2004 | $ 15,811 |
NOTE 5
LINES OF CREDIT
At March 31, 2004 and December 31, 2003, the Company had $97,000 borrowed on an outstanding line of credit. The line of credit was extended to the Company by a shareholder utilizing his personal line of credit. This credit facility is unsecured, has no stated maturity, and bears interest at 12%.
At March 31, 2004, the Company had $3,871 borrowed on an automatic line of credit with America First Credit Union. This credit facility is unsecured, has no stated maturity and bears interest at 9.75%.
At March 31, 2004, the Company had $11,897 borrowed on an automatic line of credit with Community First National Bank. This credit facility is unsecured, has no stated maturity and bears interest at 16%.
NOTE 6
MORTGAGE NOTE PAYABLE
The Company purchased its facilities on January 17, 2003 at a total cost of $875,500. Terms of the agreement called for a down payment of $28,500 and a mortgage note of $847,000 at a rate of 13% per annum. Interest only payments commenced on February 17, 2003 and will continue on the same day of each succeeding month until January 17, 2005 at which time the mortgage is due. Interest only payments are approximately $9,200 per month. The $847,000 mortgage note payable is reflected on the balance sheet under long-term debt at December 31, 2003 and under current liabilities at March 31, 2004.
NOTE 7.
LITIGATION
All Fill
All Fill is an equipment vendor in Pennsylvania claiming $31,182.00 is owed for a piece of equipment. Management is working toward an out of court settlement. At this time it is anticipated that the Company will pay the full amount of the claim which is included on the companies balance sheet in accounts payable.
Current Litigation
L. Craig Hunt
Mr. L. Craig Hunt brought action on January 14, 1998 against Diatect for damages and breach of contract on a promissory note for the sum of $42,750 plus interest, penalties and attorney’s fees. Judgment against Diatect International Corp. was rendered on February 1, 1999 in the sum of $61,543. This judgment is presently outstanding and unpaid. At March 31, 2004 and December 31, 2003, $60,543 is included in settlements payable in these financial statements. An offer to settle for $15,000 cash and the remaining portion to be paid as non-cash stock transaction has been reached as of April 9, 2004
Iver J. Longtieg
Mr. Longtieg is pursuing a claim outside of the Future Title/White Mountain Group. Mr. Longtieg claims an outstanding note for $23,887 plus interest accrued theron. Mr. Longtieg filed a notice of intent to apply for a default judgment, in Boise, Idaho. The Company did not answer the complaint and as a result a potential default judgment is possible. At the current time, Mr. Longtieg has received some partial payments, and is forbearing until such time as Diatect resolves the issue of the original claim. Mr. Longtieg has agreed to settle the balance in a non-cash stock transaction. At March 31, 2004 and December 31,2003, $21,275 owed to Mr. Longtieg is included in commitments and contingences on the Company’s balance sheet. This amount was settled on April 20, 2004 with an issuance of stock.
Compax/Flexpaq v. Diatect - This is a dispute regarding the balance due on a promissory note in the principal amount of $272,354. Suit has been filed in Salt Lake County, Utah. Management is defending the claim until the correct amount owed can be determined, at which time it is anticipated that the Company will pay approximately $300,000 to Complete Packaging in principal and interest, which are included on the Company’s balance sheet at March 31, 2004 and December 31,2003
Threatened Litigation
Other Matters
The Company is not aware of any other threatened litigation against it or its subsidiaries.
NOTE 8
COMMON STOCK
During the three months ended March 31, 2004, the Company issued 1,122,901 shares of its common stock for debt and interest valued at $192,395. In addition, the Company issued 150,276 shares in payment of $25,545 for expenses and 1,314,724 shares in payment of $287,125 for consulting. The Company received $105,000 in cash for options exercised of 1,000,000 shares. The stock was valued at it fair market value on the date of issuance. The Company also sold 693,600 shares of its common stock for $173,400 during the same fiscal
period.
NOTE 9
STOCK OPTIONS
There were no options exercised or issued during the quarter ended March 31, 2004.
NOTE 10
COMMITMENTS AND CONTINGENCIES
Futura Title Corporation
During the year ended December 31, 2002, the Company obtained releases of liability from several individuals. This resulted in a gain from termination of debt, which is reflected in the financial statements at December 31, 2002. A remaining balance in the amount of $106,620 is included in commitments and contingencies at March 31, 2004. The Company is currently negotiating a settlement agreement on this liability. Although the outcome is uncertain, the Company expects to settle for considerably less.
Other Contingencies
The production of pesticides is subject to complex environmental regulations. As of the date of these financial statements and the date of this report, the Company is unaware of any pending environmentally related litigation or of any specific past or prospective matters involving environmental concerns which could impair the marketing of its products.
Other Commitments
See Note 6 regarding Long-term liability of $21,275 and regarding Litho-Flexo liability of $72,625.
NOTE 11
SUBSEQUENT EVENTS
On April 2004, the Company received two written capital commitments totaling in excess of two million dollars. The cash funding under these investment arrangements is to be provided by scheduled equity instrument sales over the next four months.
Subsequent to the date of these financial statements, the Company sold 500,000 shares of its common stock for $50,000 cash. Other subsequent stock issuances included 566,219 shares of common stock for debt and interest, 577,917 shares for services, and 115,000 shares as settlement included in commitments and contingences.
ITEM 2.
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Cautionary Statement Regarding Forward-looking Statements
This report may contain "forward-looking" statements. Examples of forward-looking statements include, but are not limited to: (a) projections of revenues, capital expenditures, growth, prospects, dividends, capital structure and other financial matters; (b) statements of the plans and objectives of our management or Board of Directors; (c) statements of future economic performance; (d) statements of assumptions underlying other statements and statements about us and our business relating to the future; and (e) any statements using the words "anticipate," "expect," "may," "project," "intend" or similar expressions.
Three Months ended March 31, 2004 compared to March 31, 2003
During the three months ended March 31, 2004 and 2003, our revenues were $209,587 and $130,453, respectively, with costs of sales of $90,074 and $67,639 with gross profits of $119,513 and $62,814. The increase in our revenues in the three months ended March 31, 2004 compared to 2003 is attributable to refocusing our efforts in the retail arena. The new product awareness has created higher demand for both Results and Diatect product lines.
We feel the 62 percent increase in revenues for the three months period ended March 31 2004 compared to the same periods in the preceding year is indicative of our future.
Operating Expenses. For the three months ended March 31, 2004 and 2003, total operating expenses were $607,667 and $603,628, respectively, for total operating losses of $488,154 and $540,814.
The operating expenses for the three months ended March 31, 2004 were slightly higher than the prior year. This is a very positive indicator of efforts to reduce costs and at the same time increase revenue. Simply stated, our expenses increased 1% and our revenue increased over 60%.
Other Income and Expenses. Other income/expenses showed a loss of $98,053 and $195,526, respectively, for the three months ended March 31, 2004 and 2004. The improvement came a result of the satisfaction of certain debt at a gain.
For the three months ended March 31, 2004 and 2003, we had net losses of $586,207 and $736,340 and loss per share were $0.01 and $0.02, respectively.
Liquidity and Capital Resources
In the three months ended March 31, 2004, our liquidity was substantially derived from the issuance of common stock for cash. Cash used in operations has exceeded revenues. We hope that the remainder of the fiscal year will demonstrate the effectiveness of our marketing and distribution efforts. We continue to anticipate increases in market development and sales, which will bring us closer to profitability.
At March 31, 2004, we had current assets of $1,364,664, consisting primarily of accounts receivable of $171,495, prepaid expenses of $161,084 and $981,575 in inventory. We had current liabilities of $2,349,668, consisting primarily of accounts payable of $685,093, a line of credit of $112,769, interest payable of $15,811, and current notes payable of $513,593, plus other accrued liabilities of $21,476, and of $847,000, consisting of the mortgage note payable for the purchase of our facilities. Accordingly, we have a working capital deficit of $985,004. At March 31, 2004, we had property, plant and equipment totaling $1,107,846, net of depreciation, and other assets of $13,798,516, consisting primarily of our investment in EPA labels and a note receivable from a related party for $12,000,000.
Cash used in operations for the quarter ended March 31, 2004 was $304,401. In 2004, our operations have been funded by proceeds from common stock sales.
Cash used by investing activities for the quarter ended March 31, 2004 totaled $3,165 for the purchase of property plant, and equipment.
Cash flows from financing activities for the quarter ended March 31, 2004 totaled $357,811, consisting of cash received from the sale of common stock, proceeds from newly issued notes payable, offset by payments on previously issued notes payable and line of credit. Non-cash financing activities included the issuance of common stock for notes payable of $110,569 and interest of $82,817, and issuance of common stock for consulting services and accounts payable totaling $32,347 and 65,545.
As a result of our past production increase and delays in scheduled shipments, we currently have over 700,376 finished product units with a potential wholesale value of over $4.1 million. We are continuing to market our products into the wholesale; retail and commercial outlets which is expected to continue to absorb the excess inventory.
During the balance of fiscal year 2004, we may seek working capital from several sources, including the equity markets and private investors.
We believe that in the remainder of fiscal 2004, we will increase revenues from operations as we continue to move from the development stage of our products to a full marketing and sales program. We have initiated an aggressive marketing campaign to the thousands of small retail stores within Southern region. With our current inventory and our ability to manufacture 60,000 + units per day, we believe we can rapidly meet the potential demand for large quantities of our products.
We believe the largest and most important markets for our products are home and garden and commercial agricultural. Our product line provides solutions to both homeowners and commercial applicators. As our working capital increases, we will allocate additional funds to advertising and field support.
Impact of Inflation
We do not anticipate that inflation will have a material impact on our current or proposed operations.
Seasonality
We have not experienced significant variations in sales of products attributable to seasonal factors.
ITEM 3.
CONTROLS AND PROCEDURES
(a)
Evaluation of disclosure controls and procedures. We believe our disclosure controls and procedures (as defined in Sections 13a-14(c) and 15d- 14(c) of the Securities Exchange Act of 1934, as amended) are adequate, based on our evaluation of such disclosure controls and procedures on May 14,2003.
(b)
Changes in internal controls. There were no significant changes in our internal controls or in other factors that could significantly affect these controls subsequent to the date of their evaluation.
PART II
OTHER INFORMATION
ITEM 1.
LEGAL PROCEEDINGS
The Company is not aware of any other threatened litigation against it or its subsidiaries.
ITEM 2.
CHANGES IN SECURITIES
During the three months ended March 31, 2004, the Company issued 1,122,901 shares of its common stock for debt and interest valued at $192,395. In addition, the Company issued 150,276 shares in payment of $25,545.39 for expenses and 1,314,724 shares in payment of $287,125 for consulting. The Company also sold 693,600 shares of its common stock for $173,400 during the same fiscal period. The above securities have been issued pursuant to an exemption from registration under Section 4(2) of the Securities Act of 1933, as amended. (See Consolidated Statements of Stockholders' Equity in the interim financial statements and the notes thereto.)
ITEM 3.
DEFAULTS UPON SENIOR SECURITIES
None.
ITEM 4.
SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
None.
ITEM 5.
OTHER INFORMATION
None
ITEM 6.
EXHIBITS AND REPORTS ON FORM 8-K
(a)
Exhibits.
Exhibit 31
CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED
PURSAUNT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002
Exhibit 32
CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED
PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
(b)
Reports on Form 8-K.
None.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated:
DIATECT INTERNATIONAL CORPORATION
Date: May 14, 2004
/s/ Jay W. Downs, Chief Executive Officer, Principal Accounting Officer
/s/ Margie Humpries, Secretary
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated:
Date: May 14, 2004
/s/ Jay W. Downs, Director
/s/ John L. Runft, Director
/s/ David Andrus, Director
/s/ M. Stewart Hyndman, Director
/s/ Frank Priestly, Director
/s/ Michael P. McQuade, Director
