UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
Registration File # 000-30194
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month of June 30, 2002 - Q2 _ Unaudited Financial Statements
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BIOFOREST PACIFIC INC.
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2200 - 181 UNIVERSITY AVENUE, TORONTO, ONTARIO, CANADA M5H 3M7
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Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [ ]
Indicate by check mark whether the registrant by furnishing the information in
this Form is also thereby furnishing the information to the Commission
pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes [X] No [ ]
If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b):
82-1918.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
BIOFOREST PACIFIC INC.
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(Registrant)
Date August 16, 2002 By Ross McGroarty (signed)
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Ross McGroarty, Chairman, ASO
BIOFOREST PACIFIC INC.
BALANCE SHEETS
(Unaudited)
ASSETS
June 30, December 31,
2002 2001
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Current assets
Cash $ 283,899 $ 637,352
Accounts receivable 4,905 7,202
Marketable securities, at cost (market value $92,527) 86,987 -
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375,791 644,554
Bioforest Investments Inc.
Advances to related company 952,593 813,340
Acquisition costs 1 1
Capital assets 3,816 -
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$ 1,332,201 $ 1,457,895
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LIABILITIES
Current liabilities
Accounts payable $ 87,634 $ 79,864
Shareholder loan 975,806 938,216
Convertible debenture 513,023 513,023
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1,576,463 1,531,103
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CAPITAL DEFICIENCY
Share capital
Authorized
Unlimited number of common shares
Issued
42,169,302 (December 31, 2001 - 42,169,302 shares 13,728,739 13,728,739
Deficit (13,973,001) (13,801,947)
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( 244,262) ( 73,208)
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$ 1,332,201 $ 1,457,895
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BIOFOREST PACIFIC INC.
STATEMENTS OF OPERATIONS AND DEFICIT
(Unaudited)
Six months ended
June 30,
2002 2001
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Interest income $ 4 $ 7,021
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Costs and expenses
Administration and general 76,064 47,297
Legal fees 35,772 70,246
Consulting fees, travel and promotion 1,281 8,523
Interest 57,941 53,279
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171,058 179,345
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Operating loss 171,054 172,324
Deficit, beginning of the period 13,801,947 12,699,734
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Deficit, end of the period $ 13,973,001 $ 12,872,058
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Net loss per share $ 0.00 $ 0.01
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STATEMENTS OF CASH FLOWS
(Unaudited)
Six months ended
June 30,
2002 2001
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Cash resources provided by (used in):
Operating activities
Operating loss $ ( 171,054) $ ( 172,324)
Change in non-cash working capital balances
Amortization of capital assets 602 -
(Increase) decrease in accounts receivable 2,297 923
Increase (decrease) in accounts payable ( 12,582) ( 59,001)
Increase (decrease) in interest payable 20,353 16,447
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( 160,384) ( 213,955)
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Financing activities
Share subscriptions received - 1,884,918
Related party loans 37,589 (1,594,324)
Convertible debenture - ( 253,762)
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37,589 36,832
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Investing activities
Purchase marketable securities ( 86,987) -
Investments - ( 270,873)
Capital assets ( 4,418) -
Advances to related company ( 139,253) -
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( 230,658) ( 270,873)
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Increase (decrease) in cash ( 353,453) ( 447,996)
Cash, beginning of the period 637,352 546,146
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Cash, end of the period $ 283,899 $ 98,150
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