|U.S. SECURITIES AND EXCHANGE COMMISSION
    Washington, D.C. 20549Form 10-KSB
|-----------------------------------------------------------------------------





Annual report under section 13 or 15(d) of the Securities
Exchange Act of 1934



For the fiscal year ended: May 31, 2006



Commission file number: 333-61801





|Jurak Corporation World Wide, Inc. (Name of small business issuer in its charter)              
|-----------------------------------------------------------------------------------------------
|                                                                                               
|Minnesota (State or other jurisdiction of incorporation
    or organization)                   
|                                                                                               
|1181 Grier Drive, Suite C, Las Vegas, Nevada 89119-3746(Address of principal executive offices)
|                                                                                               
|(702) 914-9688(Issuer's telephone number)                                                      
|                                                                                               
|Securities registered pursuant to Section
    12(b) of the Act:                                
|None                                                                                           
|                                                                                               
|Securities registered pursuant to Section 12(g)
    of the Act:                                
|Common Stock, no par value                                                                     
|(Title of Class)                                                                               





Check whether the issuer (1) filed all reports required to be
filed by Section 13 or 15(d) of the Exchange Act during the past 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 [X] No [ ]

Check here if there is no disclosure of delinquent filers in
response to item 405 of Regulation S-B contained in this Form, and no disclosure
will be contained, to the best of Registrant's knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-KSB
or any amendment to this Form 10-KSB [ ]

State issuer's revenues for its most recent fiscal year
(ending May 31, 2006): $1,445,362

State the aggregate market value of the voting and non-voting
common equity held by non-affiliates computed by reference to the price at which
the common equity was sold, or the average bid and asked prices of such common
equity, as of August 29, 2006: $39,715,157

Issuers Involved in Bankruptcy Proceedings During the
Preceding Five Years.

N/A

Check whether the issuer has filed all documents and reports
required to be filed by Section 12, 13 and 15(d) of the Securities Exchange Act
of 1934 after the distribution of securities under a plan confirmed by a court.
Yes[ ] No[ ]

Applicable Only to Corporate Registrants

State the number of shares outstanding of each of the issuer's classes of
common equity, as of the most practicable date:

|Class                      | Outstanding as of August 29, 2006
|-------------------------- | ---------------------------------
|Common Stock, no par value | 100,632,578                      



Documents Incorporated By Reference

If the following documents are incorporated by reference,
briefly describe them and identify the part of the Form 10-KSB into which the
document is incorporated: (1) any annual report to security holders; (2) any
proxy or information statement; and (3) any prospectus filed pursuant to Rule
424(b) or (c) of the Securities Act of 1933 "Securities Act"). The listed
documents should be clearly described for identification purposes.

None.

Transitional Small Business Disclosure Format (Check one): Yes [ ] No [X]







---























JURAK CORPORATION WORLD WIDE, INC.



Form 10-KSB

|Item 1.  | Description of Business.                                                                                             | 4 
|-------- | -------------------------------------------------------------------------------------------------------------------- | --
|         |                                                                                                                      |   
|Item 2.  | Description of Property.                                                                                             | 22
|         |                                                                                                                      |   
|Item 3.  | Legal Proceedings.                                                                                                   | 23
|         |                                                                                                                      |   
|Item 4.  | Submission of Matters to a Vote of Security
    Holders.                                                             | 23
|         |                                                                                                                      |   
|Item 5.  | Market for Registrant's Common Equity and
    Related Stockholder Matters.                                           | 25
|         |                                                                                                                      |   
|Item 6.  | Management's Discussion and Analysis of
    Financial Condition and Results of Operations.                           | 30
|         |                                                                                                                      |   
|Item 7.  | Financial Statements.                                                                                                | 37
|         |                                                                                                                      |   
|Item 8.  | Changes In and Disagreements With Accountants
    on Accounting and Financial Disclosure.                            | 63
|         |                                                                                                                      |   
|Item 8A. | Controls and Procedures.                                                                                             | 63
|Item 8B. | Other Information.                                                                                                   | 64
|Item 9.  | Directors, Executive Officers, Promoters and
    Control Persons; Compliance With Section 16(a) of the Exchange Act. | 64
|         |                                                                                                                      |   
|Item 10. | Executive Compensation.                                                                                              | 68
|         |                                                                                                                      |   
|Item 11. | Security Ownership of Certain Beneficial Owners
    and Management and Related Stockholder Matters.                  | 71
|         |                                                                                                                      |   
|Item 12. | Certain Relationships and Related Transactions.                                                                      | 72
|         |                                                                                                                      |   
|Item 13. | Exhibits.                                                                                                            | 72
|         |                                                                                                                      |   
|Item 14. | Principal Accountant Fees and Services.                                                                              | 73





NOTE REGARDING FORWARD LOOKING STATEMENTS

This Annual Report includes or is based upon estimates,
projections or other "forward looking statements". Such forward-looking
statements include any projections or estimates made by us and our management in
connection with our business operations. Such forward-looking statements are
based on the beliefs of Jurak Corporation World Wide, Inc. When used in this
Annual Report, the words "anticipate," "believe," "estimate," "expect,"
"intends" and similar expressions, as they relate to us, are intended to
identify forward-looking statements, which include statements relating to, among
other things, the ability of our company to continue to successfully compete in
the herbal supplement markets. While these forward looking statements, and any
assumptions upon which they are based, are made in good faith and reflect our
current information and judgment regarding the direction of our business, actual
results will almost always vary, sometimes materially, from any estimates,
predictions, projections, assumptions or other future performance suggested
herein.

Such estimates, projections, or other "forward looking
statements" involve various risks and uncertainties. We caution the reader that
important factors in some cases have affected, and in the future could
materially affect actual results and cause actual results to differ materially
from the results expressed in any such estimates, projections, or other
"forward-looking statements".

Available Information

Jurak Corporation World Wide, Inc. files annual, quarterly
and current reports and other information with the Securities and Exchange
Commission (the "Commission"). You may read and copy documents referred to in
this Annual Report that have been filed with the Commission at the Commission's
Public Reference Room, 450 Fifth Street, N.W., Washington, D.C. You may obtain
information on the operation of the Public Reference Room by calling the
Commission at 1-800-SEC-0330. You can also obtain copies of our Commission
filings by going to the Commission's website at http://www.sec.gov.

---





|PART I
|------





ITEM 1. DESCRIPTION OF BUSINESS.



BUSINESS HISTORY AND DEVELOPMENT



Jurak Corporation World Wide, Inc. was incorporated under the
laws of the State of Minnesota on November 1, 1997. In this Annual Report, the
terms "Company", "us", "we", "our" and "its" are used as references to Jurak
Corporation World Wide, Inc. We develop and distribute dietary herbal supplement
products. Our "Jurak Classic Whole Body Tonic" was first developed in the 1920's
and 1930's and introduced to the marketplace in 1943 by Mr. Carl Jurak, the
father of the founder of our company. Our dietary herbal supplement products are
distributed through a network marketing system using independent distributors
that we refer to as "Ambassadors of Health" (distributors).





BUSINESS OPERATIONS



General



We are a product-focused company specializing in the herbal
supplement industry and market. Our main product is the "Jurak Classic Whole
Body Tonic", also known as JC Tonic, which is a herbal supplement blend of
thirty different ingredients comprised primarily of medicinal herbs. The main
ingredients of the Jurak Classic Whole Body Tonic include thyme leaf,
sarsaparilla root, dandelion root, alfalfa herb, angelica root, saw palmetto
berry, horehound herb, horsetail herb, quassia wood, peppermint herb, licorice
root, gentian root, celery seed, mallow herb, chamomile flower, passion flower
herb, malva flower, and hops flower with potassium citrate, magnesium gluconate,
calcium glycerophosphate, potassium glycerophosphate, iron glycerophosphate,
boron tri-fluoride, potassium iodide, glycerin. The Jurak Classic Whole Body
Tonic is marketed in 42-ounce bottles and 20-ounce bottles, which combined
constitute approximately 100% of our sales.



We distribute our products through a network marketing system
using independent distributors. Network marketing appeals to a wide
cross-section of people, particularly those seeking to supplement income, start
a home-based business, or pursue entrepreneurial opportunities other than
conventional full-time employment. We consider our compensation plan and cash
bonus pools to be attractive components of our network marketing system. We also
believe that our network marketing system is ideally suited to market herbal
supplement products because sales of such products are strengthened by ongoing
personal contact between our distributors and their customers. Distributors are
given the opportunity through sponsored events and training sessions to network
with other distributors, develop selling skills and establish personal goals. We
supplement monetary incentives with other forms of recognition in order to
further motivate and foster an atmosphere of excitement through our distributor
network.



We have obtained trademark protection for the name "JC Tonic"
within the United States and within Canada. We also own the web sites
www.jurak.com, www.jctonic.com, and www.tonicman.com.



Industry Overview - Tonic Herbs



The nutrition industry includes many small and medium sized
companies that manufacturer and distribute products generally intended to
maintain the body's health and general well being. The four major product
categories within the nutrition industry are: (i) nutritional supplements, which
are products such as vitamins and minerals, dietary supplements, herbs and
botanicals, and compounds derived from these substances; (ii) natural and
organic foods; (iii) functional foods; and (iv) personal care products.



The Jurak Classic Whole Body Tonic is a blend of 18
bi-directional tonic herbs with added minerals. "Tonic" has been defined as "a
substance (tonic) to strengthen the body against chronic conditions by gently
"moving" or "adjusting" processes in the body; they are "catalysts" or
"assisting remedies". The definition of a tonic clearly excludes the notion of
"making stronger" by pushing the body in one direction only. Tonics are
bi-directional, capable of both increasing and decreasing the activity of body
processes. Herbs whose action is bi-directional are called tonics. Tonic herbs
have the ability to exert balancing action on both systems and biochemical
processes of the body. Their power lies in both their therapeutic benefits and
ease of application.



We believe that the concept of a tonic may sound strange to
modern ears. We simply have not made room in our medical or nutritional agendas
for a concept of a substance that restores balance. We believe that this will
change as the medical community begins to realize that many modern plagues may
be prevented and even treated by maintaining optimum health in all body systems.
Such a re-orientation of thought demands that much less emphasis be placed on
finding and killing "germs", and much more on increasing the body systems
natural defenses and restorative powers. The concept of the herbal tonic will be
a signpost for the new research.



We believe that the nutrition industry, which includes our
herbal tonic product, is being fueled by certain factors including, but not
limited to, the following: (i) the public's exposure to more widely accepted
natural and homeopathic alternatives, which include herbal products; (ii) the
desire to slow down the aging process; (iii) the nationwide and worldwide trend
toward preventive health care combining Eastern and Western medicine; and (iv)
the rapid product introductions taking place in response to scientific research
fueled by new demand.



Our Product Line



The Jurak Classic Whole Body Tonic



The Jurak Classic Whole Body Tonic is a tonic composed of
exceptional health giving substances found and extracted from plants. The Jurak
Classic Whole Body Tonic is our only product at this time, which is known as JC
Tonic, a registered trademark and name. The original formula called "Matonol"
was first brought to the marketplace in the early 1940's by the father of our
founder and current Chief Executive Officer, Anthony Carl Jurak, based upon the
premise there were quite a number of existing "super herbs" that have the
ability to balance the systems in the human body which would be beneficial to
mankind. We believe that the Jurak Clasic Whole Body Tonic formula embodies the
ability to restore balance and health in all of the systems of the human body:
the immune system, the cardiovascular system, the digestive system, the
reproductive system, and the nervous systems. The premise of the Jurak Classic
Whole Body Tonic is to keep each system of the human body at an optimum
operational level ultimately producing health and the ability to resist many
diseases. The Jurak Classic Whole Body Tonic is called a "whole body tonic"
because it embodies the ten essential properties required to aid all bodily
systems.



Healthy blood is the source of well being to the six major
and hundreds of minor bodily glands. The six principal glands which are the
source of the human body's well being - the pituitary, thyroid, parathyroids,
adrenals, pancreas and gonads - are greatly influenced by blood. We believe that
the Jurak Classic Whole Body Tonic helps keep the blood healthy by balancing,
purifying, activating, and regulating the blood chemical and biological balance.
The Jurak Classic Whole Body Tonic has the property to keep the walls of the
blood vessels clean and contains rich sources of six minerals as well as various
organic acids to supplement the blood chemistry. By providing to the blood these
health-giving substances which balance, purify and activate the blood, this in
turn influences the bodily glands and regulates the blood system and creates
conditions which bring a person well-being.



Generally, the properties of the Jurak Classic Whole Body
Tonic are as follows:



> restore and maintain balance and homeostasis throughout
>     the body systems;
>     increase energy through normal metabolic means;
>     increase general and overall resistance to infections of
>     all kinds by enhancing the tonic properties of the immune system and bring
>     the immune system in perfect balance;
>     decrease the effects of stress and anxiety on our ability
>     to perform and our ability to rest and sleep without having to utilize one
>     herb to go to sleep and another herb to wake up in the morning;
>     protect from free-radical damages by having a good
>     antioxidant activity;
>     increase the body's ability to build muscle and/or
>     decrease weight through the burning of calories by improving the body's
>     ability to utilize the dietary calories that we consume each and every day;
>     regulate digestion processes and keep all of the organs
>     and glands that are part of the digestive system in balance, resulting in
>     prevention of simple indigestion or ulcers and lowering of cholesterol;
>     strengthen the heart and reduce cholesterol and blood
>     pressure and keep the bloods ability to clot in balance;
>     keeps the liver, kidneys and other glands related to
>     blood-purifying concept in optimum health, resulting in a reduction in
>     exposure to stressful toxins and pollutants in our atmosphere and food; and
>     balance the lower bowel by counteracting either
>     constipation or diarrhea.



The Jurak Classic Whole Body Tonic is a blend of 18
bi-directional tonic herbs with 6 vital added minerals. It is a tonic composed
of health giving substances found and extracted from plants. Substances of great
value are found in diverse plants. Some of these are found in the roots, some in
the seeds, some in the flowers, leaves or bark. Each plant has its own
peculiarities and its own treasures which are often hidden in various manners.



We believe that nature gave man all he needs for health and
well-being. When extracts are made to prepare the Jurak Classic Whole Body
Tonic, many plants are used. Of some of these plants, only the roots or leaves
or seeds or flowers or bark are used, each at its correct season, giving the
right quality of its constituents. There are many variables that make a plant
extract so valuable. These factors include hormones, trace minerals, various
vegetable acids and mineral salts that are the same in their inorganic opposites
but behave differently chemically, and often give results quite opposite from
the inorganic compounds.



The herbs contained in the Jurak Classic Whole Body Tonic are
as follows:



> alfalfa, which contains an enormous quantity of
>     nutrients, is one of the best sources of chlorophyll, possesses
>     antibacterial action against gram-negative bacteria, and traditionally has
>     been used as a treatment to diminish the symptoms of arthritis, gout,
>     rheumatism;
>     angelica root, which is known for its smooth muscle
>     relaxation property and used in treatment of several forms of digestive
>     disorders, including colic, stomachaches, indigestion, nausea, cramps,
>     vomiting and anorexia;
>     celery seed, which is a traditional diuretic and blood
>     cleanser and possesses other medicinal properties including a blood pressure
>     lowering property, antioxidative principle, and sedative activity;
>     chamomile flower, which is used to calm the nerves and
>     induce a state of pleasant relaxation;
>     dandelion root, which is used specifically for the health
>     of the liver and related organs and glands and is high in inulin, a form of
>     carbohydrate easily assimilated by diabetics and a potential nutritional
>     source for diabetics;
>     gentian root, which is one of the strongest bitters
>     known, has antibacterial properties and is used to stimulate the appetite,
>     promote the secretion of saliva and gastric, liver, pancreatic and
>     intestinal juices and accelerate the emptying of the stomach;
>     hops flower, which has been sued through the centuries as
>     a mild sedative and sleeping aid by calming nerves and helping induce sleep;
>     horehound herb, which affects the respiration directly by
>     dilating vessels and acting as a serotonin antagonist and which is also
>     popularly used as a cough remedy and in bronchial medications ;
>     horsetail herb, which is used in the growth and repair of
>     bone and tissue and also stops bleeding and helps build up the blood;
>     licorice root, which reinforces the body's ability to
>     withstand attack from virtually any kind of pathogen, is considered a tonic
>     for the musculoskeletal system and is also an effective treatment for
>     stomach ailments;
>     mallow common herb, which is an anti-inflammatory agent
>     for the respiratory tract, the skin and the gastrointestinal tract;
>     malva flower, which is an aromatic, stimulant and
>     carminative used for snakebites, cramps, stomach and intestinal disorders;
>     passion flower herb, which is used as a mild sedative
>     that reduces anxiety, nervous tension, high blood pressure and encourages
>     sleep, but which does not produce sedation in healthy, conscious individuals
>     who need to remain active and awake;
>     peppermint herb, which is mainly used is aid the various
>     processes of digestion, combating gas, increasing the flow of bile, healing
>     the stomach and liver, and is also an ideal choice for invigorating the mind
>     and improving the mood;
>     sarsaparilla root, which consists of the dried root of
>     Smilax species and acts as a blood purifier that facilitate the removal of
>     wastes from the blood either by promoting better circulation or improving
>     liver or kidney action or by insuring regular bowel movements or by opening
>     the pores of the skin;
>     quassia wood, which stimulates secretion of the gastric
>     juices, increases appetite and aids digestion; and
>     saw palmetto berry, which helps prevent and treat benign
>     prostatic hypertrophy; and
>     thyme leaf, which is used calm upset stomachs, kill
>     bacteria, relax the smooth muscles of the stomach and uterus, increase
>     expectoration, kill worms and improve the secretion of the digestive
>     enzymes.

The Jurak Classic Whole Body Tonic also contains added
minerals, such as boron, calcium, iodine, iron, magnesium and potassium.



Network Marketing Strategy



We market and distribute our products through a network
marketing system and sell directly to distributors and preferred customers. We
recognize the need to aggressively grow our distributor sales force, thereby
building new sales. We had approximately 9,900 distributors and 4,300 retail
customers at May 31, 2006, compared with approximately 9,300 distributors and
3,600 retail customers at May 31, 2005. Network marketing is a form of
person-to-person direct selling through a network of vertically organized
independent distributors who purchase products at wholesale prices from the
manufacturer for resale to retail consumers. The emergence of readily available
means of mass communication such as personal computers, facsimiles, low-cost
long distance telephone services, and the Internet has contributed to the rapid
growth of network marketing. The concept of network marketing is based on the
strength of personal recommendations that frequently come from friends,
neighbors, relatives, and close acquaintances. We believe that network marketing
is an effective way to distribute our products because it allows
person-to-person product education, which is not as readily available through
other distribution channels. We believe our network marketing system appeals to
a broad cross-section of people, particularly those seeking to supplement family
income, start a home business, or pursue employment opportunities other than
conventional, full-time employment. Most of our distributors therefore sell our
products on a part-time basis.



We believe that our network marketing system is ideally
suited to market our Jurak Classic Whole Body Tonic because sales are
strengthened by ongoing personal contact between retail consumers and
distributors, many of whom themselves use our Jurak Classic Whole Body Tonic.
Sales are made through direct personal sales presentations as well as
presentations made to groups. These sales methods are designed to encourage
individuals to purchase our Jurak Classic Whole Body Tonic by informing
potential customers and distributors of our Jurak Classic Whole Body Tonic,
results of personal use, and the potential financial benefits of becoming a
distributor. The objective of the marketing program is to develop a broad based
network marketing organization within a relatively short period.



Our network marketing program encourages individuals to
develop their own downline network marketing organizations. Each new distributor
is either linked to the existing distributor that personally enrolled the new
distributor into our network marketing organization or the existing distributor
in the enrolling distributor's downline as specified at the time of enrollment.
Growth of an distributor's downline organization is dependent upon the
recruiting and enrollment of additional distributors within such distributor's
downline organization.



Distributors are encouraged to assume responsibility for
training and motivation of others within their downline organization and to
conduct opportunity meetings as soon as they are appropriately trained. We
strive to maintain a high level of motivation, morale, enthusiasm and integrity
among the members of our network marketing organization. We believe this result
is achieved through a combination of sales incentives, personal recognition, or
outstanding achievement, and quality promotional materials. Under our network
marketing program, distributors purchase sales aids and brochures from us and
assume the costs of advertising and marketing the Jurak Classic Whole Body Tonic
to their customers as well as the direct costs of recruiting new distributors.
We believe that this form of sales organization is cost efficient because our
direct sales expenses are limited.



We continually strive to improve our marketing strategies,
including the compensation structure within our network marketing organization,
to attract and motivate distributors. These efforts are designed to increase
monthly product sales and the recruiting of distributors. We have set aside
3,000,000 shares of our restricted common stock for our distributors under a
plan whereby the distributors earn a stock bonus based on sales and "bonus
points". A distributor who purchases enough product for 160 points, sponsors
three persons who each purchase enough product for 160 points, and who in turn
sponsor three additional persons who each purchase enough product for 160
points, will receive ten certificates. The number of certificates earned and
outstanding at May 31, 2006 and 2005 was 95,780 and 83,434 respectively. Each
certificate earned is redeemable for one share of our restricted common stock at
the current market price at the time of redemption. The shares of common stock
are contractually restricted from sale for three year from the time of earning.
Each certificate earned is redeemable for one share of common stock.



We believe that in addition to the United States and
Canadian markets, significant growth opportunities continue to exist in
international markets. We intend to select new markets following an assessment
of several factors including market size, anticipated demand for the Jurak
Classic Whole Body Tonic, receptivity to network marketing, and ease of entry,
which includes consideration of possible regulatory restrictions on our products
or network marketing system.



Material Agreements



Intellectual Property License Agreement



On approximately January 1, 1999, we entered into an
intellectual property license agreement (the "License Agreement") with Jurak
Holdings Limited ("JHL"), a corporation organized under the laws of the Province
of Alberta and an affiliate of our Chief Executive Officer and one of our
directors. Pursuant to the terms and provisions of the License Agreement, we are
required to pay the greater of $500,000 for fiscal year 2003 and each calendar
year thereafter, during the first ten years of the License Agreement (the
"Minimum Royalty Fee"), or eight percent of the net sales price of all license
products sold under the License Agreement (the "Continuing Royalty Fee"). After
fiscal 2013, we are required to make payments in the amount of the Continuing
Royalty Fee.



The accrued payments due and owing to JHL under the License
Agreement for the Minimum Royalty Fee and the Continuing Royalty Fee was
$250,000 at May 31, 2006.









Intellectual Property



Patents and other proprietary rights are vital to our
business operations. We protect our technology through a trademark that Jurak
Holdings Limited ("JHL") owns and can license. JHL's policy is to seek
appropriate protection both in the United States and abroad for our Jurak
Classic Whole Body Tonic and other products. We have acquired trademark
protection as follows.



JC Tonic



On January 15, 2002, the United States Patent and
Trademark Office issued a certificate of registration, registration no.
2,530,329, to JHL for protection of our exclusive use of the trademark "JC
Tonic". The certificate of registration for "JC Tonic" was issued under Class 6,
18, 44, 46, 51 and 52 for herbal, mineral and vitamin supplements, and shall
remain in force and effect for ten years from the date of issuance.



The Youth Solution



On May 3, 2005, the United States Patent and Trademark
Office issued an

application serial no. 78/618,318, registration no. 2625515,
to JHL for protection of our exclusive use of the trademark "The Youth
Solution". The certificate of registration for "The Youth Solution" was issued
under Class 3 for body lotions, and shall remain in force and effect for ten
years from the date of issuance.



On September 24, 2002, the United States Patent and Trademark
Office issued a certificate of registration, serial no. 75/703,055, registration
no. 2,625,515, to JHL for protection of our exclusive use of the trademark "The
Youth Solution". The certificate of registration for "The Youth Solution" was
issued under Class 5 and 32 for herbal supplements, and shall remain in force
and effect for ten years from the date of issuance.



Helena



On November 29, 2004, the United States Patent and Trademark
Office accepted JHL's application for registration under serial no. 78/523,794,
for protection of our exclusive use of the trademark "Helena". The application
was filed for "Helena" under Class 3 for non-medicated skin care preparation.
Once final approval is obtained by the United States Patent and Trademark
Office, the trademark shall remain in force and effect for ten years from the
date of issuance.



Vimirex



On January 18, 2005, the United States Patent and Trademark
Office accepted JHL's application for registration under serial no. 78/549,525,
for protection of our exclusive use of the trademark "Vimirex". The application
was filed for "Vimirex" under Class 5 for vitamins and minerals. Once final
approval is obtained by the United States Patent and Trademark Office, the
trademark shall remain in force and effect for ten years from the date of
issuance.





JC Junior



On June 28, 2005, the United States Patent and Trademark
Office accepted JHL's application for registration under serial no. 78/659,837,
for protection of our exclusive use of the trademark "JC Junior". The
application was filed for "JC Junior" under Class 5 and 32 for herbal
supplements. Once final approval is obtained by the United States Patent and
Trademark Office, the trademark shall remain in force and effect for ten years
from the date of issuance.



Take An Ounce and Feel the Bounce



On June 13, 2000, the United States Patent and Trademark
Office issued a certificate of registration, serial no. 76/069,199, registration
no. 2,490,428, to us for protection of our exclusive use of the trademark "Take
An Ounce and Feel the Bounce". The certificate of registration for "Take An
Ounce and Feel the Bounce" was issued under Class 32 for herbal supplements, and
shall remain in force and effect for ten years from the date of issuance.



Ambassador of Health



On May 5, 1999, the United States Patent and Trademark Office
issued a certificate of registration, serial no. 75/702,892, registration no.
2,613,042, to us for protection of our exclusive use of the trademark
"Ambassador of Health". The certificate of registration for "Ambassador of
Health" was issued under Class 16 and 35 for magazines and newsletters on health
and nutrition and for personnel recruitment and business consultation, and shall
remain in force and effect for ten years from the date of issuance.



We may consider filing additional patent applications with
respect to our technologies and any novel aspects of our technology to protect
our intellectual property. Future patents, if issued, may be challenged,
invalidated or circumvented. Thus, any patent that we own or license from third
parties may not provide adequate protection against competitors. The patent
applications that we may file in the future may not result in issued patents.
Also, patents may not provide us with adequate proprietary protection or
advantages against competitors with similar or competing technologies. As a
result of potential conflicts with the proprietary rights of others, we may in
the future have to prove that we are not infringing the patent rights of others
or be required to obtain a license to the patent. We do not know whether such a
license would be available on commercially reasonable terms, or at all.



We also rely on trade secrets and unpatentable know-how that
we seek to protect, in part, by confidentiality agreements. However, it is
possible that parties may breach those agreements, and we may not have adequate
remedies for any breach. It is also possible that our trade secrets or
unpatentable know-how will otherwise become known or be independently developed
by competitors. There can be no assurance that third parties will not assert
infringement or other claims against us with respect to any existing or future
products, or that licenses would be available if our technology were
successfully challenged by a third party, or if it became desirable to use any
third-party technology to enhance our products. Litigation to protect our
proprietary information or to determine the validity of any third-party claims
could result in significant expense to us and divert the efforts of our
technical and management personnel, whether or not we are successful in such
litigation.



While we have no knowledge that we are infringing the
proprietary rights of any third party, there can be no assurance that such
claims will not be asserted in the future with respect to our Jurak Classic
Whole Body Tonic or future products. Any such assertion by a third party could
require us to pay royalties, to participate in costly litigation and defend
licensees in any such suit pursuant to indemnification agreements, or to refrain
from selling an alleged infringing product or service.



COMPETITION



The business of developing and distributing nutritional
and personal care products such as the Jurak Classic Whole Body Tonic is highly
competitive. Numerous manufacturers, distributors and retailers compete for
consumers and, in the case of other network marketing companies, for
distributors. We compete directly with other entities that develop, manufacture,
market and distribute dietary supplements. We compete with these entities by
emphasizing the underlying science, value and high quality of the Jurak Classic
Whole Body Tonic, as well as the convenience and financial benefits afforded by
our network marketing system and compensation plan. However, many of our
competitors may be substantially larger and have greater financial resources and
broader name recognition. Our markets are highly sensitive to the introduction
of new products that may rapidly capture a significant share of those markets.



The nutritional supplement market is characterized by: (i)
large selection of essentially similar products that may be difficult to
differentiate; (ii) retail consumer emphasis on value pricing; (iii) constantly
changing formulations based on evolving scientific research; (iv) low entry
barriers resulting from low brand loyalty, rapid change, widely available
manufacturing, low regulatory requirements, and ready access to large
distribution channels; and (v) a lack of uniform standards regarding product
ingredient sources, potency, purity, absorption rate, and form.



There can be no assurance that we will be able to effectively
compete in this intensely competitive environment. In addition, nutritional and
personal care products can be purchased in a wide variety distribution channels,
including retail stores. Our product offering line is relatively limited
compared to the wide variety of products offered by many of our competitors, and
are often premium priced. As a result, our ability to remain competitive depends
in part upon the successful marketing of the Jurak Classic Whole Body Tonic.



We also compete with other network marketing organizations
for time, attention and commitment of new and current distributors. Our ability
to remain competitive depends, in significant part, on our success in recruiting
and retaining distributors. We believe that we offer a rewarding and unique
compensation plan and attractive benefits and services. To the extent
practicable, our compensation plan is designed to be seamless, permitting
international expansion without re-entry requirements. There can be no assurance
that our program for recruiting and retaining distributors will be successful.
The pool of individuals interested in the business opportunities presented by
network marketing tends to be limited in certain markets, and is reduced to the
extent other network marketing companies successfully recruit these individuals
into their businesses. Although we believe that we offer an attractive
opportunity for our distributors, there can be no assurance that other network
marketing companies will not be able to recruit our existing distributors or
deplete the pool of potential distributors in a given market.



RISK FACTORS





Risks Related to Our Business

We Have a History of Operating Losses and There Can Be No
Assurance We Will Be Profitable in the Future; Need to Raise Capital to Continue
Our Growth.



We have a history of operating losses, expect to continue to
incur losses, and may never be profitable. We do not expect positive cash flow
from operations in the near term. Further, we have been dependent on sales of
our equity securities and debt financing to meet our cash requirements. We
incurred a net loss of $1,087,846 for the fiscal year ended May 31, 2006, and
have an aggregate net loss of $4,635,264 as of May 31, 2006. As of May 31, 2006,
we had a working capital deficit of $493,745. There is no assurance that actual
cash requirements will not exceed our estimates. In particular, additional
capital may be required in the event that we encounter greater costs associated
with general and administrative expenses and costs of offering equity securities
or debt financing.



We May Need to Raise Capital to Continue Our Growth.







Our Success Depends on the Ability of Our Suppliers With Whom
We Have Business Arrangements.



We currently obtain all of our raw materials from many
botanical houses and, therefore, are dependent on the stable and reliable supply
of such raw materials in these regions. The supply of these raw materials can be
adversely affected by any material change in the climatic or environmental
conditions which may, in turn, have a material adverse effect on the cost of our
raw materials and on our operations.



We depend on a number of suppliers that produce our Jurak
Classic Whole Body Tonic. Failure to maintain continuous access to these
suppliers may have a materially adverse affect our business. Such suppliers may
experience equipment failures and service interruptions, of which we have no
control, which could adversely affect customer confidence, our business
operations and our reputation. Moreover, we may have to
compete with other companies for the production capacity of suppliers. Because
we are a small enterprise and many of these companies with whom we may compete
for production capacity may have greater financial and other resources than we
have, they may have an advantage in the competition for production capacity. If
we experience a significant increase in demand, we may have to expand our third
party suppliers. We cannot be assured that additional suppliers will be
available to us, or that if available it will be available on terms that are
acceptable to us. If we cannot produce a sufficient quantity of our Jurak
Classic Whole Body Tonic to meet demand or delivery schedules, our customers
might reduce demand, reduce the purchase price they are willing to pay for our
product, or replace our product with the product of a competitor, any of which
could have a materially adverse effect on our financial condition and
operations.



We Rely on the Network Marketing System.



We have relied on the network marketing system to distribute,
market and sell Jurak Classic Whole Body Tonic. We have no long-term contractual
relationship with these distributors. While we believe that the distributors
will continue to provide their services, there can be no assurance that the
distributors will be available in the future, and if available, will be
available on terms deemed acceptable to us.

Our Continued Operations Depend on the Successful Marketing of our Jurak
Classic Whole Body Tonic.

Our business plan is based on the marketing and distribution
of primarily one product, the Jurak Classic Whole Body Tonic. This entails
circumstances currently prevailing and the bases and assumptions that certain
circumstances will or will not occur, as well as the inherent risks and
uncertainties involved in the marketing and distribution of one product. There
is no assurance that we will be successful in implementing our marketing
strategies or that our marketing strategies, even if implemented, will lead to
the successful achievement of our objectives. If we are not able to successfully
implement our marketing strategies, our business operations and financial
performance may be adversely affected. The novelty and the design of our Jurak
Classic Whole Body Tonic is important to our success and competitive position,
and if we are unable to continue to develop and offer such a unique product to
our customers, our business could suffer. We cannot be certain that our Jurak
Classic Whole Body Tonic will be or continue to be in demand. Should the
competitive demand steer away from our product, our business could be adversely
affected. To date, our product line has consisted primarily of our Jurak Classic
Whole Body Tonic. There can be no assurance that we can successfully sell our
product or that we can successfully develop, introduce, or sell any additional
products.

Our Growth Could Harm Our Future Business Results.

We expect to experience significant and rapid growth. If we
are unable to hire staff to manage our operations, our growth could harm our
future business results and may strain our managerial and operational resources.
As we proceed with the production, marketing and sale of our existing and
anticipated products, we expect to experience significant and rapid growth of
our business. We may need to add staff to manage operations, handle marketing
efforts and perform finance and accounting functions. We may be required to hire
a broad range of additional personnel in order to successfully advance our
operations. This growth is likely to place a strain on our management and
operational resources. The failure to develop and implement effective
operational and financial systems, or to hire and retain sufficient personnel
for the performance of all of the functions necessary to effectively service and
manage our potential business, or the failure to manage growth effectively,
could have a materially adverse affect on our business and financial condition.

Our Success is Dependent Upon the Acceptance of Our Products
and Our Business.

Our success depends upon our achieving significant market
acceptance of our Jurak Classic Whole Body Tonic. We cannot guarantee that
consumers will purchase our product. Acceptance of herbal supplemental products
will depend on the success of our advertising, promotional and marketing
efforts. To date, we have not spent significant funds on marketing and
promotional efforts, although in order to increase awareness of our products we
expect to spend a significant amount on promotion, marketing and advertising in
the future. If these expenses fail to develop an awareness of our Jurak Classic
Whole Body Tonic, these expenses may never be recovered and we may never be able
to generate any significant future revenues. In addition, even if awareness of
our product increases, we may not be able to produce enough of our product to
meet demand.

Loss of Key Management Personnel.

The loss of Mr. Anthony Jurak or Mr. Roger Theriault or any
of our key management personnel would have an adverse impact on our future
development and could impair our ability to succeed. Our performance is
substantially dependent upon the expertise of our Chief Executive Officer, Mr.
Anthony Jurak, and other key management personnel and our ability to continue to
hire and retain such personnel. Mr. Jurak spends substantially all of his time
working for us. It may be difficult to find sufficiently qualified individuals
to replace Mr. Jurak or other key management personnel if we were to lose any
one or more of them. The loss of Mr. Jurak or any of our other key management
personnel could have a materially adverse effect on our business, development,
financial condition, and operating results. We do not maintain "key person" life
insurance on any of our directors or senior executive officers.

Many of Our Competitors Are Larger and Have Greater Financial
and Other Resources Than We Do.

The herbal supplement industry, in general, is intensely
competitive. Our Jurak Classic Whole Body Tonic competes with other herbal
supplemental based products. Such based products are currently marketed by
well-established, successful companies that possess greater financial,
marketing, distribution, personnel and other resources than us. Using these
resources, these companies can implement extensive advertising and promotional
campaigns, both generally and in response to specific marketing efforts by
competitors, to enter into new markets rapidly and to introduce new products.
Competitors with greater financial resources also may be able to enter the
market in direct competition with us, offering attractive marketing tools to
encourage the sale of products that compete with our products or present cost
features which consumers may find attractive.

Government Regulation.

Any changes in regulation by the Federal Trade Commission
("FTC") and/or the U.S. Food and Drug Administration ("FDA") with respect to
labeling and advertising of our products could have an adverse affect on our
business. A change in these requirements could add additional cost to the
production of our products.

If Our Competitors Misappropriate Proprietary Know-How and
Our Trade Secrets, it Could Have a Materially Adverse Affect on our Business.

The loss of or inability to enforce our trademarks and other
proprietary know-how and trade secrets could adversely affect our business. We
depend heavily on our trade secrets. If any of our competitors copies or
otherwise gains access to our trade secrets or develops similar herbal tonic
products independently, we would not be able to compete as effectively. The
measures we take to protect our trade secrets and design expertise may not be
adequate to prevent their unauthorized use. Further, the laws of foreign
countries may provide inadequate protection of such intellectual property
rights. We may need to bring legal claims to enforce or protect such
intellectual property rights. Any litigation, whether successful or
unsuccessful, could result in substantial costs and diversions of resources. In
addition, notwithstanding the rights we have secured in our intellectual
property, other persons may bring claims against us that we have infringed on
their intellectual property rights or claims that our intellectual property
right interests are not valid. Any claims against us, with or without merit,
could be time consuming and costly to defend or litigate and therefore could
have an adverse affect on our business.



RISKS RELATED TO OUR COMMON STOCK



Sale of Restricted Common Stock.



As of May 31, 2006, there are 90,631,791 outstanding shares
of our common stock, of which 85,450,317 are restricted securities as that term
is defined in Rule 144 under the Securities Act of 1933, as amended (the
"Securities Act"). Although the Securities Act and Rule 144 place certain
prohibitions on the sale of restricted securities, restricted securities may be
sold into the public market under certain conditions. As of May 31, 2006, there
are no warrants outstanding other than the 395,000 the company issued during the
years ended May 31, 2005 and 2004, in a private placement of 1,000,000 shares of
common stock at the price of $1.00 per share. During the years ended May 31,
2005 and 2004, 200,000 and 195,000 shares, respectively, were issued related to
the private placement. The placement includes a warrant for each share purchased
and is exercisable at $1.25 per share for two years from that date.



Any significant downward pressure on the price of our common
stock as certain stockholders sell their shares of our common stock may
encourage short sales. Any such short sales could place further downward
pressure on the price of our common stock.



The Trading Price of Our Common Stock on the OTC Bulletin
Board Has Been and May Continue to Fluctuate Significantly and Stockholders May
Have Difficulty Reselling Their Shares.



Our common stock has traded as low as $0.12 and as high as
$1.99. In addition to volatility associated with Bulletin Board securities in
general, the value of your investment could decline due to the impact of any of
the following factors upon the market price of our common stock: (i) changes in
the demand for our Jurak Classic Whole Body Tonic; (ii) disappointing results
from our marketing and sales efforts; (iii) failure to meet our revenue or
profit goals or operating budget; (iv) decline in demand for our common stock;
(v) downward revisions in securities analysts' estimates or changes in general
market conditions; (vi) lack of funding generated for operations; (vii) investor
perception of our industry or our business prospects; and (viii) general
economic trends.



In addition, stock markets have experienced extreme price and
volume fluctuations and the market prices of securities have been highly
volatile. These fluctuations are often unrelated to operating performance and
may adversely affect the market price of our common stock. As a result,
investors may be unable to sell their shares at a fair price and you may lose
all or part of your investment.



Additional Issuances of Equity Securities May Result in
Dilution to Our Existing Shareholders.



Our Articles of Incorporation authorize the issuance of
150,000,000 shares of common stock and 50,000,000 shares of preferred stock. The
Board of Directors has the authority to issue additional shares of our capital
stock to provide additional financing in the future and the issuance of any such
shares may result in a reduction of the book value or market price of the
outstanding shares of our common stock. If we do issue any such additional
shares, such issuance also will cause a reduction in the proportionate ownership
and voting power of all other stockholders. As a result of such dilution, if you
acquire shares of our common stock, your proportionate ownership interest and
voting power could be decreased. Further, any such issuances could result in a
change of control.



We are authorized to issue shares of preferred stock. Our
board of directors, without shareholder approval, may issue shares of preferred
stock with rights superior to the rights of the holders of shares of common
stock. As a result, shares of preferred stock could be issued quickly and
easily, adversely affecting the rights of holders of shares of common stock and
could be issued with terms calculated to delay or prevent a change in control or
make removal of management more difficult. Although we have no present plans to
issue shares of preferred stock, the issuance of preferred stock in the future
could adversely affect the rights of the holders of common stock and reduce the
value of the common stock.



Our Common Stock is Classified as a "Penny Stock" under SEC
Rules Which Limits the Market for Our Common Stock.



Because our stock is not traded on a stock exchange or on the
NASDAQ National Market or the NASDAQ Small Cap Market, and because the market
price of the common stock is less than $5 per share, the common stock is
classified as a "penny stock." Our stock has not traded above $5 per share. SEC
Rule 15g-9 under the Exchange Act imposes additional sales practice requirements
on broker-dealers that recommend the purchase or sale of penny stocks to persons
other than those who qualify as an "established customer" or an "accredited
investor." This includes the requirement that a broker-dealer must make a
determination that investments in penny stocks are suitable for the customer and
must make special disclosures to the customers concerning the risk of penny
stocks. Many broker-dealers decline to participate in penny stock transactions
because of the extra requirements imposed on penny stock transactions.
Application of the penny stock rules to our common stock reduces the market
liquidity of our shares, which in turn affects the ability of holders of our
common stock to resell the shares they purchase, and they may not be able to
resell at prices at or above the prices they paid.



A Decline in the Price of Our Common Stock Could Affect Our
Ability to Raise Further Working Capital and Adversely Impact Our Operations.



A decline in the price of our common stock could result in a
reduction in the liquidity of our common stock and a reduction in our ability to
raise additional capital for our operations. Because our operations to date have
been principally financed through the sale of equity securities, a decline in
the price of our common stock could have an adverse effect upon our liquidity
and our continued operations. A reduction in our ability to raise equity capital
in the future would have a materially adverse effect upon our business plan and
operations, including our ability to continue our current operations. If our
stock price declines, we may not be able to raise additional capital or generate
funds from operations sufficient to meet our obligations.



GOVERNMENT REGULATION



In the United States, where we primarily sell our Jurak
Classic Whole Body Tonic, we are subject to laws, regulations, administrative
determinations, court decisions and similar restrictions at the federal, state
and local levels, collectively known as "regulations". These regulations include
and pertain to, among other things: (i) the formulation, manufacturing,
packaging, labeling, advertising, distribution, sale and storage of our product;
(ii) our product claims and advertising, including label claims, direct claims,
as well as claims and advertising by our distributor, for which we may be held
responsible; and (iii) our network marketing organization and activities.

Products



The formulation, manufacturing, packaging, labeling,
advertising, distribution, and sale and storage of our Jurak Classic Whole Body
Tonic is subject to regulation by a number of governmental agencies. The federal
agencies include the Food and Drug Administration ("FDA"), the Consumer Product
Safety Commission, the United States Department of Agriculture, and others. Our
activities are also regulated by various codes and agencies of the states and
localities in which our product is or may be manufactured, distributed or sold.
The FDA, in particular, regulates the formulation, manufacturing and labeling of
dietary and herbal supplements, which includes our product.



The Dietary Supplement Health and Education Act of 1994 ("DSHEA"),
revised the provisions of the Federal Food, Drug and Cosmetic Act ("FFDCA"),
concerning the composition and labeling of dietary supplements, which we believe
is generally favorable to the dietary supplement industry. DSHEA created a new
statutory category of products or "dietary supplements". This new category
includes vitamins, minerals, herbs, amino acids, and other dietary substances
for human use to supplement the diet. However, DSHEA grandfathered, with certain
limitations, dietary ingredients that were on the market before October 15,
1994. A dietary supplement containing a new dietary ingredient ("NDI"), and
placed on the market on or after October 15, 1994, must have a history of use or
other evidence establishing a basis for expected safety. Manufacturers of
dietary supplements using a "structure-function" statement or other claim must
have scientific substantiation that the statement is true, accurate, and not
misleading. Our product, Jurak Classic Whole Body Tonic, is classified as a
dietary supplement under the FFDCA and DSHEA.



The labeling requirements for dietary supplements with
respect to labels affixed to containers have been set forth in final regulations
effective March 23, 1999. These regulations include the serving size, dietary
ingredient information, and the proper detail and format required for the
"Supplement Facts" box. Our product labels are in compliance with those
regulations. Many states have also recently become active in the regulation of
dietary supplement products. These states may require modification of labeling
of our product sold in those states, e.g., Texas, New York and California.
Finally, in recent years, California courts have grown increasingly active in
consumer protection and "private attorney general" lawsuits, some of which have
targeted certain herbal supplement ingredients, such as Kava Kava or Ginseng.
These suits have not directly affected our product or sales, but we continue to
be aware of states' regulations, especially as they pertain to advertising of
products and disallowance of ingredients in products sold in that state.



On January 6, 2000, the FDA published a final rule on
permissible structure/function statements to be placed on labels and in
brochures. Structure/function statements are claims of the benefit or positive
effect of a product or an ingredient on the body's structure or function. This
regulation does not significantly change the way the FDA interprets
structure/function statements. We have not made any substantial label revisions
based on this regulation regarding any of our structure/function product
statements. Subsequently, the FDA published a final rule that the level of
science needed to support a structure/function claim would be raised close to
the current Federal Trade Commission ("FTC") standard, which is "competent and
reliable scientific evidence". We believe that we have adequate substantiation
for all label claims used.



Anti-DSHEA Proposed Legislation



We believe that the issuance of rules by the FDA on
ephedra has caused Congress to rethink DSHEA, specifically as to how safety of
supplements may be ensured and also as to whether specific categories of dietary
supplements should not be permitted at all. In particular, there is growing
sentiment (including from one herbal trade association) to make adverse event
reporting ("AER") mandatory for all manufacturers and marketers of dietary
supplements so that the FDA may take action more quickly than it did on ephedra
when a harmful herb or other ingredient is suspected. Since February 2003, there
have been several bills proposed in Congress that would amend DSHEA, make safety
safeguards stricter, even approaching the rigor and reporting required for
FDA-regulated drugs. Some examples are as follows:



Dietary Supplement Safety Act. The Dietary Supplement
Safety Act ("DSSA") would greatly undermine DSHEA, especially Section 4
regarding safety, giving the FDA new powers of oversight and blanket authority
over whole categories of supplements, including herbal supplements. To the best
of our knowledge, the bill is still pending.



Dietary Supplement Access and Awareness Act. The Dietary
Supplement Access and Awareness Act ("DSAAA") purports to be about safety and
access for consumers to supplements, but actually recommends severe restrictions
and proposes dramatic redefinitions of what constitutes a dietary supplement.
This bill would impose several requirements for supplements, including
unprecedented FDA pre-approval as well as strict AER reporting, and exclude only
vitamins and minerals from such new requirements. The bill would reverse the
safety burden of proof of Section 4 of DSHEA, and instead require the
manufacturer to demonstrate safety, rather than the burden being on the FDA to
show "imminent hazard" or "unreasonable risk."



We will continue to monitor these anti-DSHEA bills and
determine if any of them become a serious threat to our business. In addition,
two major trade associations of the dietary supplement industry - the American
Herbal Products Association and the National Natural Foods Association - have
both been actively lobbying against any bills that would require or lead to
unreasonable restraints on the manufacture and marketing of dietary supplements.



Manufacturing



Pursuant to current law, dietary supplements are
manufactured using good manufacturing practices ("GMPs"). The DSHEA empowered
the FDA to issue specialized GMP's for dietary supplements, but several years
passed before the FDA took the next step in the rule-making process. During June
2003, the FDA published a rule which provides comprehensive GMP's for
supplements. Once final GMP regulations become effective, all our manufacturers
will be required to adhere to the GMPs. The FDA will most likely institute an
effective date for the GMPs, which will allow our manufacturer a reasonable
amount of time to conduct this review and, if necessary, revise their
manufacturing operations to comply with the final GMP regulations. Typically,
the effective date for new manufacturing and labeling regulations is twelve (12)
months after the promulgation of the final rule. As of the date of this Annual
Report, the FDA has not yet published this final rule on GMPs.



Product Claims, Advertising and Website



The FDA considers website promotional content to
constitute "labeling", and thus our website must not contain disease claims or
drug claims, but only permissible structure/function claims. The Federal Trade
Commission ("FTC") governs the advertising of dietary supplements in any medium
or vehicle - print ads, radio spots, infomercials, internet ads, and websites.
The fundamental FTC rule is that all material advertising claims, whether
express or implied, must be substantiated by reliable and competent scientific
evidence. Because our website must comply with both FDA and FTC regulations, we
routinely review our web site and our scientific substantiation for particular
claims to determine if it is sufficient to ensure that there are no disease
claims present. We also require our distributors' websites to be in compliance
with FDA and FTC regulations. As such, and to ensure Internet compliance,
distributors may only copy or link to our corporate website. Any independent
websites are unauthorized and their creators are solely liable for defending any
regulatory enforcement actions. Violations of this policy may result in the
termination of the distributor's relationship with the Company.



Advertising of products is subject to regulation by the FTC.
The FTC prohibits unfair methods of competition and unfair or deceptive acts or
practices in or affecting commerce. The FTC further provides that the
dissemination of, or causing to be disseminated, any false advertisement
pertaining to drugs or foods, which would include dietary supplements, is an
unfair or deceptive act of practice. Under the FTC's Substantiation Doctrine, an
advertiser is required to have a "reasonable basis" for all objective product
claims before the claims are made. Failure to adequately substantiate claims may
be considered either deceptive or unfair practices. Pursuant to this FTC
requirement, we are required to have adequate substantiation for all material
advertising claims made for our Jurak Classic Whole Body Tonic.



In recent years, the FTC has initiated numerous
investigations of and actions against dietary supplement products and companies.
The FTC issued a guidance document to assist companies in understanding and
complying with the substantiation requirement for advertising claims for
supplements. We have organized the documentation supporting and substantiating
our advertising and promotional practices in compliance with these guidelines.
In particular, the FTC has been especially active, using its overlapping
jurisdiction with the FDA and its joint agent enforcement mechanism called
"cyber stings" via the FTC's monitoring of supplement claims found on Internet
advertising. When the FTC finds compliance violations, the FDA then sends out
warning letters regarding these Internet claims, called "Cyber Letters". The FTC
may enforce compliance with the law in a variety of ways, both administratively
and judicially, using compulsory process, cease and desist orders, and
injunctions. FTC enforcement can result in orders requiring, among other things,
limits on advertising, corrective advertising, disgorgement of profits, consumer
redress, divestiture of assets, rescission of contracts, and such other relief
as the agency deems necessary to protect the public. Violation of these orders
could result in substantial financial or other penalties. We have not been
notified that we have been or are the subject of any enforcement action by the
FTC. However, any such action in the future by the FTC could materially
adversely affect our ability to successfully market our product. Therefore, we
pay careful attention to new guidelines and recent investigations launched,
complaints filed, and fines imposed by the FTC.



We attempt to remain in full compliance with all applicable
laws and regulations governing the manufacture, labeling, sale, distribution and
advertising of our product.



Network Marketing System



Laws and regulations prevent the use of deceptive or
fraudulent practices that have sometimes been inappropriately associated with
legitimate direct selling and network marketing activities. These laws include
anti-pyramiding, securities, lottery, referral selling, anti-fraud and business
opportunity statutes, regulations and court cases. Illegal schemes, typically
referred to as "pyramid", "chain distribution", or "endless chain" schemes,
compensate participants primarily and solely for the introduction or enrollment
of additional participants into the scheme. Often these schemes are
characterized by large up-front entry or sign-up fees, over-priced products of
low value, little or no emphasis on the sale or use of products, high-pressure
recruiting tactics, and claims of huge and quick financial rewards requiring
little or no effort. Generally, these laws are directed at ensuring that product
sales ultimately are made to consumers and that advancement within sales
organization is based on sales of the enterprise's products, rather than
investments in the organization or other non-retail sales related criteria or
activity. We ensure through counsel that our network marketing system is in
regulatory compliance.



We currently have distributors in all fifty states. In
addition to federal regulation, each state has enacted its own "little FTC Act"
to regulate sales and advertising. We may receive requests to supply information
regarding our network marketing plan to regulatory agencies. We believe that our
network marketing program is in compliance with laws and regulations relating to
network marketing activities in our current markets. Nevertheless, we remain
subject to the risk that, in one or more of our present or future markets, the
marketing system or the conduct of certain distributors could be found to be not
in compliance with applicable laws and regulations. Failure by a distributor or
us to comply with these laws and regulations could have a materially adverse
effect on our business in a particular market or in general. Any or all of these
factors could adversely affect the way we do business and could affect our
ability to attract potential distributors or enter new markets. The FTC has been
active in its enforcement efforts against both pyramid schemes and legitimate
network marketing organizations with certain legally problematic components,
having instituted several enforcement actions resulting in signed settlement
agreements and payment of large fines. Although to our knowledge, we have not
been the target of an FTC investigation, there can be no assurance that the FTC
will not investigate us in the future. Noncompliance with applicable laws and
regulations could: (i) result in enforcement action and imposition of penalties;
(ii) require modification of our network marketing system; (iii) result in
negative publicity; or (iv) have a negative effect on distributor moral and
loyalty. Any of these consequences could have a materially adverse effect on our
sales as well as our financial condition.



We cannot predict the nature of any future law, regulation,
interpretation, or application, nor can we predict what effect additional
governmental legislation or regulations, judicial decisions or administrative
orders, when and if promulgated, would have on our business in the future. It is
possible that future developments may require that we revise our network
marketing program or our product manufacturing and labeling. Any or all of these
requirements could have a material adverse effect on our business, results of
operations and financial conditions.



EMPLOYEES



We currently employ eight (8) employees, all of whom are
full-time employees. In addition to our current staff, we also have
approximately 9,900 distributors nationwide.

REPORTS TO STOCKHOLDERS

We are currently a reporting issuer in the U.S. and are
subject to reporting requirements under section 13 or 15(d) of the U.S. Securities Exchange Act of 1934, as amended. We are required to file the
following with the U.S. Securities and Exchange Commission (the "SEC"): (i)
quarterly reports on Form 10-QSB; (ii) an annual report on Form 10-KSB; (iii) a
Form 8-K to report the occurrence of certain reportable events; (iv) Forms 3, 4
and 5 to report insider sales and acquisition of our securities; and (v) proxy
statements. We are required to deliver an annual report to our stockholders
prior to or with the distribution of proxy materials relating to annual
stockholder meetings.



ITEM 2. DESCRIPTION OF PROPERTY

We lease our principal office space located at Hughes Airport
Center, 1181 Grier Drive, Suite C, Las Vegas, Nevada 89119. We currently utilize
office space and warehouse. We intend to lease this space pursuant to the terms
and provisions of our lease at approximately $7,000 per month. The lease
agreement expires June 30, 2009.

ITEM 3. LEGAL PROCEEDINGS

Management is not aware of any legal proceedings contemplated
by any governmental authority or any other party involving us or our properties.
As of the date of this Annual Report, no director, officer or affiliate is (i) a
party adverse to us in any legal proceeding, or (ii) has an adverse interest to
us in any legal proceedings. Management is not aware of any other legal
proceedings pending or that have been threatened against us or our properties.

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

During fiscal year ended May 31, 2006, no matters were
submitted to our stockholders for approval.







---



|Part II
|-------



ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS

MARKET FOR COMMON EQUITY







|Quarter Ended     | High Bid | Low Bid
|----------------- | -------- | -------
|May 31, 2006      | $0.35    | $0.03  
|February 28, 2006 | $0.46    | $0.22  
|November 30, 2005 | $0.43    | $0.24  
|August 31, 2005   | $0.55    | $0.16  
|May 31, 2005      | $0.41    | $0.26  
|February 28, 2005 | $0.47    | $0.27  
|November 30, 2004 | $0.20    | $0.13  
|August 31, 2004   | $0.66    | $0.40  
|                  |          |        



As of May 31, 2006, there were approximately 430 shareholders
of record of our common shares as reported by our transfer agent, Signature
Stock Transfer, Inc., which does not include shareholders who shares are held in
street or nominee names. We believe that there are approximately 200 beneficial
owners of our common stock. There are no other classes of shares issued or
outstanding.

DIVIDEND POLICY

No dividends have been declared by the Board of Directors on
our common stock. Our losses do not currently indicate the ability to pay any
cash dividends, and we do not have any intention of paying cash dividends on our
common stock in the foreseeable future. We are trying to build up inventory
levels and expand our business; therefore, it is unlikely that we would use
profits for the purpose of paying dividends for the foreseeable future.

SECURITIES AUTHORIZED FOR ISSUANCE UNDER COMPENSATION PLANS





The Company is offering 3,000,000 of its common shares to its distributors
under a plan where the distributors earn certificates based on sales and bonus
points. Each certificate is redeemable for one share of the Company's common
stock three years after the certificate has been earned. The number of
certificates outstanding at May 31, 2006 and 2005 was 95,780 and 83,433,
respectively. The liability for the certificates earned of $103,395 and $100,287
at May 31, 2006 and 2005, respectively, is included in Accrued Compensation.
During the years ended May 31, 2006 and 2005, respectively, no shares and 16,302
shares, respectively, were issued to various distributors under this plan.





|Equity Compensation Plan Information                                                         
|---------------------------------------------------------------------------------------------
|Plan Category                                                                                
|Equity compensation plans
    approved by security holders                                   
|Equity compensation plans not approved by
    security holdersAmbassador Program
    Warrants





RECENT SALES OF UNREGISTERED SECURITIES



Debt Settlement



During fiscal year ended May 31, 2006, we entered into a
settlement of outstanding debt with several of our executive officers and Jurak
Holdings Limited (the "Settlement Agreement"). Pursuant to the terms and
provisions of the Settlement Agreement, we issued 73,070,580 shares of our
restricted common stock at $0.02 per share to settle the principal amount of
$908,874 and accrued interest of $552,537 due and owing.



During fiscal year ended May 31, 2006, we entered into a
settlement of outstanding Accrued Minimum Royalty Fees with one of our executive
officers (the "Settlement Agreement"). Pursuant to the terms and provisions of
the Settlement Agreement, we issued 11,500,000 shares of our restricted common
stock at $0.10 per share to settle the principal amount of $1,150,000 due and
owing for Accrued Minimum Royalty Fees.



During fiscal year ended May 31, 2005, we entered into a
settlement of outstanding debt with one of our executive officers for services
rendered (the "Settlement Agreement"). Pursuant to the terms and provisions of
the Settlement Agreement, we issued 453,384 shares of our restricted common
stock at $0.20 per share to settle the principal amount of $90,677 plus accrued
interest due and owing. In addition, during Fiscal year ended May 31, 2005, we
issued 16,302 shares of common stock at $1.12 per share in lieu of compensation.



During fiscal year ended May 31, 2006, we issued 30,000
shares of restricted common stock to a consultant at $0.22 per share in lieu of
compensation.



The per share price of the shares was determined by our Board
of Directors based upon analysis of certain factors, including but not limited
to, the trading price per share of our common stock on the OTC Bulletin Board,
our stage of development, industry status, investment climate, and perceived
investment risk. We issued shares of our restricted stock in accordance with the
transactional exemption under Section 4(2) of the Securities Act of 1933, as
amended (the "1933 Securities Act"). The executive officer acknowledged that the
securities to be issued have not been registered under the 1933 Securities Act
and that they understood the economic risk of an investment in the securities.



Private Placements



During fiscal year ended May 31, 2006, we executed private
placements of 1,900,000 and 10,000,000 shares of our restricted common stock,
for which we received cash in amounts of $269,566 and $200,000.



During Fiscal Year ended May 31, 2005, we executed Private
Placements of 200,000 shares of our restricted common stock, for which we
received cash in the amount of $40,000.



Reverse Stock Split



On May 12, 2006, the Board of Directors approved a
one-for-six consolidation (reverse split) of our common stock, effective for
shareholders of record on May 22, 2006. The consolidated common stock began
trading on the NASD OTC Bulletin Board under the symbol "JRAK" on May 23, 2006.



In the consolidation, each six shares of our common stock
issued and outstanding was converted to one share of common stock. The number of
outstanding shares of common stock was reduced from 45,367,267 shares to
7,561,211 shares. The number of authorized shares of common stock was not
reduced by this consolidation. Fractional shares of stock were rounded up to the
next whole share.



Stock Compensation



On August 4, 2005, the company entered into an agreement with a consultant
for financial consulting services. The agreement includes a stock compensation
provision where the Company and the Company's Chief Executive Officer agree to
sell 4,250,000 and 750,000 shares, respectively, of the Company's restricted
common shares to the consultant. The 750,000 shares were earned upon signing the
agreement. The fair market value of the stock transferred by the CEO was
$165,000. No additional shares have been issued under this agreement as of May
31, 2006.

In November 2005, the Company entered into an agreement with
a consultant for marketing services. Under this agreement, the company issued
30,000 shares to the consultant on November 4, 2005, for marketing services. The
fair market value of the stock transferred was $6,720.





ITEM 6. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS



The following discussion and analysis of our results of
operations and financial position should be read in conjunction with our audited
financial statements and the notes thereto, included elsewhere in this Annual
Report. Our financial statements are prepared in accordance with U.S. GAAP.

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS



The following discussion is intended to provide an analysis
of our financial condition and should be read in conjunction with our audited
financial statements and the notes thereto.  The matters discussed in this
section that are not historical or current facts deal with potential future
circumstances and developments.  Such forward-looking statements include,
but are not limited to, the development plans for our growth, trends in the
results of our development, anticipated development plans, operating expenses
and our anticipated capital requirements and capital resources.  Our actual
results could differ materially from the results discussed in the
forward-looking statements.

RESULTS OF OPERATIONS



|                                 | Years ended May 31, |            
|-------------------------------- | ------------------- | -----------
|                                 | 2006                | 2005       
|Sales                            | $ 1,445,362         | $ 2,364,398
|Gross Profit                     | $ 1,092,623         | $ 1,856,376
|Net Loss                         | $ (1,087,846)       | $ (508,634)
|Basic and Diluted Loss per Share | $ (0.16)            | $ (0.10)(1)
|                                 |                     |            

(1) Restated to reflect the 1 for 6 reverse stock split on
May 22, 2006



The results for fiscal year ended May 31, 2006 include
decreased cost of sales. Also, our revenue has decreased by 39% resulting in a
41% decrease in gross profit margin in 2006. We continue to build a team of
experienced industry professionals and distributors that can lead us to success
in the herbal industry. We believe our operating systems as implemented reduce
shipping errors and increase logistic efficiencies and customer service. As a
result of management's efforts, we believe we have successfully negotiated the
lowest costs of goods and payment terms.



Fiscal Year Ended May 31, 2006 Compared to Fiscal Year Ended
May 31, 2005



Our net loss during fiscal year ended May 31, 2006 was
($1,087,846) compared to ($508,634) during fiscal year ended May 31, 2005 (an
increase of $579,212). During fiscal year ended May 31, 2006, we generated
$1,445,362 in gross sales compared to $2,364,398 in gross sales for fiscal year
ended May 31, 2005 (a decrease of $919,036). Cost of goods sold decreased during
fiscal year ended May 31, 2006 to $352,739 from $508,022 for fiscal year ended
May 31, 2005, resulting in net sales or a gross margin of $1,092,623 for fiscal
year ended May 31, 2006 compared to $1,856,376 for 2005, as further discussed
below.



The May 31, 2005 selling, general & administrative expenses
included in management's discussion and analysis of financial condition and
results of operation was modified to reflect the May 31, 2006 classifications.



During fiscal year ended May 31, 2006, we incurred
selling,general and administrative expenses of $2,085,410 compared to operating
expenses of $2,239,657 during fiscal year ended May 31, 2005 (a decrease of
$154,246). Our selling, general and administrative expenses consisted of: (i)
$378,325 (2005: $418,708) in salaries and employee benefits; (ii) $3,164 (2005:
$57,842) in advertising and promotion; (iii) $300,185 (2005: $459,784) in
contract labor; (iv) $79,653 (2005: $64,060) in legal and accounting; (v)
$285,398 (2005: $ 289,885) in office and general; (vi) $113,355 (2005: $113,740)
in rent; (vii) $47,958 (2005: $63,831) in insurance; (viii) $12,194 (2005:
$12,747) in depreciation; (ix) $365,178 (2005: $259,060) in consulting fees; and
(x) $500,000 (2005: $500,000) in royalty fees.



Interest expense for the year ended May 31, 2006 was $95,059
compare to $125,353 for the year ended May 31, 2005.



Our net loss during fiscal year ended May 31, 2006 was
($1,087,846) or ($0.16) per share compared to a net loss of ($508,634) or
($0.10) per share for fiscal year ended May 31, 2005. For fiscal year ended May
31, 2006, the weighted average number of shares outstanding was 6,607,394
compared to 5,269,242 for fiscal year ended May 31, 2005.



Sales and Gross Margins



Sales for fiscal year ended May 31, 2006 were $1,445,362, a
decrease of 39% over last year's sales of $2,364,398. The decrease in sales was
related to issues associated with the reliability of the Company's computer
systems used to track and account for distributors' sales activity. The system
problems caused delays and inaccuracies in the accumulation of sales data, which
affected the timely calculation and payment of distributor bonuses. These
problems caused a decline in sales activity. In May 2006, the Company installed
a new computer system, which improved the sales data accumulation process. In
July 2006, the Company rolled out a replicated Company website for each of its
9,900 distributors. The replicated websites allow each distributor to advertise
to their specific customers, while providing the product and company information
from the Company's new website. The new computer system and the replicated
websites have already resulted in an increase in sales volume. Management is
confident that the Company has regained the confidence of the distributor
network.



Gross profit or margin in fiscal year ended May 31, 2006
decreased over fiscal year ended May 31, 2005. Gross margin for fiscal year
ended May 31, 2006 was $1,092,623 compared with $1,856,376 for the same period
for 2005. Gross margin as a percentage of revenue was 76% in fiscal year ended
May 31, 2006 compared with 79% in fiscal year ended May 31, 2005. The decline in
gross margin was due to an increase in product costs.



Operating Expenses



Total operating expenses for fiscal year ended May 31, 2006
were $2,085,410 compared with $2,239,657 for the same period in 2005. The
decrease is primarily relates to decreases in many expenditures, and cannot be
attributed to a large decrease in an single or any group of expenditures.



Salaries and benefits for fiscal year ended May 31, 2006 were
$378,325 compared with $418,708 in 2005. Contract labor was $300,185 for fiscal
year ended May 31, 2006 compared with $459,784 for 2005. Contract labor is
utilized to provide the company with maximum flexibility.



Interest costs for fiscal year ended May 31, 2006 were
$95,059 compared with $125,353 for the same period in 2005. Interest costs
primarily relate to loans from a principal stockholder and related entities.

Net Loss



The net loss for fiscal year ended May 31, 2006 was
($1,087,846) compared to a net loss of ($508,634) for fiscal year ended May 31,
2005, an increase of $579,212. Basic loss per share was ($0.16) for fiscal year
ended May 31, 2006 and ($0.10) per share for fiscal year ended May 31, 2005.

LIQUIDITY AND CAPITAL RESOURCES



As of May 31, 2006, our current assets were $110,841 and our
current liabilities were $604,586, resulting in a working capital deficit of
$493,745. As of May 31, 2006, total assets were $171,024 consisting of: (i)
$44,073 in cash; (ii) $0 in accounts receivable; (iii) $58,154 in net inventory;
(iv) $8,614 in prepaid expenses; (v) $26,034 in restricted cash; (vi) $19,365 in
deposits; and (vii) $14,784 in office furnishings and equipment (net of
depreciation and amortization).



As of May 31, 2006, total liabilities were comprised of (i)
$208,643 in accounts payable; (ii) $135,605 in accrued compensation; (iii)
$250,000 in accrued minimum royalties; (iv) $4,993 payable to stockholder/
officers; (v) and $6,598 in current and long-term portion of capital lease
obligation.



Stockholders' deficit decreased from ($2,599,666) at fiscal
year ended May 31, 2005 to ($434,815) at fiscal year ended May 31, 2006 due to
cash generated from the Private Placement offering and conversion of outstanding
debt.



Net cash flows used in operating activities during fiscal
year ended May 31, 2006 was ($412,218) compared with net cash flows provided by
operating activities of $5,671 for the same period in 2005. The change was
caused primarily by an increase in the net loss and offset by stock compensation
and an increase in accrued compensation and royalties.



Net cash flows provided by investing activities during fiscal
year ended May 31, 2006 was $9,510 compared with net cash used in investing
activities of ($2,744) during fiscal year ended May 31, 2005. The change was
caused by a decrease in restricted cash.



Net cash flows provided by financing activities was $446,293
during fiscal year ended May 31, 2006 compared with net cash used in financing
activities of ($2,951) during fiscal year ended May 31, 2005. The change was
primarily caused by an increase in proceeds received from stock issuances.

PLAN OF OPERATION



We have been, since our inception, reliant on external
investment to finance ongoing operations as we are not yet operating profitably.
While we expect that we will achieve profitable operations in the future, there
can be no assurance that our revenue, margins, and profitability will increase
or be sufficient to support our operations in the long term. We expect we will
need to raise additional capital to meet short and long-term operating
requirements. We believe that private placements of equity capital and debt
financing may be adequate to fund our long-term operating requirements. We may
also encounter business endeavors that require significant cash commitments or
unanticipated problems or expenses that could result in a requirement for
additional cash. If we raise additional funds through the issuance of equity or
convertible debt securities other than to current shareholders, the percentage
ownership of our current shareholders would be reduced, and such securities
might have rights, preferences or privileges senior to our common stock.
Additional financing may not be available upon acceptable terms, or at all. If
adequate funds are not available or are not available on acceptable terms, we
may not be able to take advantage of prospective business endeavors or
opportunities, which could significantly and materially restrict our business
operations. We are continuing to pursue external financing alternatives to
improve our working capital position and to grow our business to the greatest
possible extent.



MATERIAL COMMITMENTS

A significant commitment for fiscal year ending May 31, 2007
relates to the License Agreement with Jurak Holdings Limited. As of fiscal year
ended May 31, 2006, an aggregate amount of $250,000 is due and owing to Jurak
Holdings Limited for Accrued Minimum Royalty fees.

OFF-BALANCE SHEET ARRANGEMENTS

As of the date of this Annual Report, we do not have any
off-balance sheet arrangements that have or are reasonably likely to have a
current or future effect on our financial condition, changes in financial
condition, revenues or expenses, results of operations, liquidity, capital
expenditures or capital resources, that are material to our investors. The term
"off-balance sheet arrangement" generally means any transaction, agreement or
other contractual arrangement to which an entity unconsolidated with us is a
party, under which we have: (i) any obligation arising under a guarantee
contract, derivative instrument or variable interest; or (ii) a retained or
contingent interest in assets transferred to such entity or similar arrangement
that serves as credit, liquidity, or market risk support for such assets.



FUTURE OUTLOOK

The demand for our product is largely dependent upon the
level of acceptance and understanding of herbal dietary supplements in the North
American distributor and consumer sectors. Market size for herbal dietary
supplement products and our relative share of this market will be affected by a
number of factors, which include general understanding and awareness, continuing
growth in homeopathic awareness, government regulations and general economic
conditions. We are attempting to mitigate some of these risks through education
and employing well-known persons to endorse our products.

As we continue to expand our operations internationally we
must be aware of any inherent business risks associated with doing so. We have
attempted to mitigate these risks by establishing a network marketing system
utilizing persons who are familiar with the industry.

---



ITEM 7. FINANCIAL STATEMENTS



JURAK CORPORATION WORLD WIDE, INC.

Audited Financial Statements

May 31, 2006

Index

Report of Independent Registered Public Accounting Firm dated September 11,
2006

Balance Sheets

Statements of Operations

Statements of Cash Flows

Notes to Financial Statements

---



REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM



To the Board of Directors and Stockholders

Jurak Corporation World Wide, Inc.



We have audited the accompanying balance sheets of Jurak
Corporation World Wide, Inc. as of May 31, 2006 and 2005, and the related
statements of operations, stockholders' deficit and cash flows for the years
then ended. These financial statements are the responsibility of the Company's
management. Our responsibility is to express an opinion on these financial
statements based on our audits.



We conducted our audits in accordance with the standards of
the Public Accounting Oversight Board (United States). Those standards require
that we plan and perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement. The company is not
required to have, nor were we engaged to perform, an audit of its internal
control over financial reporting. Our audit included consideration of internal
control over financial reporting as a basis for designing audit procedures that
are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the company's internal control over financial
reporting. Accordingly, we express no such opinion. An audit also includes
examining, on a test basis, evidence supporting the amounts and disclosures in
the financial statements, assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audit provides a
reasonable basis for our opinion.



In our opinion, the financial statements referred to above
present fairly, in all material respects, the financial position of Jurak
Corporation World Wide, Inc. as of May 31, 2006 and 2005, and the results of its
operations and its cash flows for the years then ended, in conformity with
accounting principles generally accepted in the United States of America.



The accompanying financial statements have been prepared
assuming the Company will continue as a going concern. As discussed in Note 2 to
the financial statements, the Company has suffered recurring losses from
operations and its total liabilities exceed its total assets. These factors
raise substantial doubt about its ability to continue as a going concern.
Management's plans in regard to these matters are also described in Note 2. The
financial statements do not include any adjustments that might result from the
outcome of this uncertainty.





/s/ Carver Moquist &
O'Connor, LLC





Minneapolis, Minnesota

September 11, 2006

---



---



---





---



---







JURAK CORPORATION WORLD WIDE, INC.



NOTES TO FINANCIAL STATEMENTS

May 31, 2006 and 2005

Note 1. Nature of Business and Summary of Significant Accounting Policies:

Nature of business:

Jurak Corporation World Wide, Inc. (the Company) was incorporated on
      November 3, 1997 in the State of Minnesota, is located in Las Vegas,
      Nevada, and markets its products throughout the United States and Canada.
      The Company manufactures and markets dietary and herbal supplement
      products.

A summary of the Company's significant accounting policies follows:



Revenue recognition:

The Company recognizes revenue when persuasive evidence of an
      arrangement exists, title and risk of ownership passes, the sales price is
      fixed or determinable, and collectibility is probable. Generally, these
      criteria are met at the time product is shipped.

Use of estimates:

The preparation of the financial statements in conformity with
      accounting principles generally accepted in the United States of America
      requires management to make certain estimates and assumptions that affect
      the reported amounts of assets and liabilities and disclosures of
      contingent assets and liabilities at the financial statement date and
      revenues and expenses during the reporting period. Actual results could
      differ from Company estimates.



Income taxes:

Deferred taxes are provided on a liability method whereby deferred tax
      assets are recognized for deductible temporary differences and operating
      loss and tax credit carryforwards and deferred tax liabilities are
      recognized for taxable temporary differences. Temporary differences are
      the differences between the reported amounts of assets and liabilities and
      their tax basis. Deferred tax assets are reduced by a valuation allowance
      when, in the opinion of management, it is more likely than not that some
      portion or all of the deferred tax assets will not be realized. Deferred
      tax assets and liabilities are adjusted for the effects of changes in tax
      laws and rates on the date of the enactment.



Cash:

The Company considers all highly liquid debt instruments with original
      maturities at three months or less to be cash equivalents.



The Company maintains its cash in a high quality financial institution.
      The balances at times may exceed the Federally insured limits.

Segment Reporting

The Company operates as one reporting segment.



Inventories:

Inventories are valued at the lower of cost or market, using the
      first-in, first-out method (FIFO). Inventories are reported at their net
      amounts, and consist of the following:





Office furnishings and equipment:

Office furnishings and equipment are recorded at cost and depreciated
      on a straight-line basis over their estimated useful life of three to
      seven years. Maintenance and minor renewals are expensed when incurred.

Long-lived assets:



Long-lived assets, such as property and equipment are reviewed for
      impairment whenever changes in circumstances indicate that the carrying
      amount of an asset may not be recoverable. Recoverability of assets to be
      held and used is measured by comparison of the carrying amount of an asset
      to estimated undiscounted future cash flows expected to be generated by
      the asset. If the carrying amount of an assets exceeds its estimated
      future cash flows, an impairment charge is recognized in the amount by
      which the carrying amount of the assets exceeds the fair value of the
      asset.



Advertising:

The Company expenses advertising costs as they are incurred.
      Advertising costs were $345 and $3,284 for the year ended May 31, 2006 and
      2005 respectively.



Shipping and handling costs:

Shipping and handling costs charged to customers have been included
      in sales. Inbound freight and handling costs incurred by the Company have
      been included in cost of sales.



The carrying value of the Company's financial instruments approximates
      fair value at May 31, 2006 and 2005. The carrying amounts for cash,
      accounts payable, accrued liabilities and notes payable approximate fair
      value due to the short maturity of these instruments.



Loss per common share:

Loss per share is computed based on the weighted-average number of
      common shares outstanding. There are 395,000 warrants outstanding and
      95,780 certificates for shares of stock at May 31, 2006 that would be
      considered anti-dilutive and therefore are not included.

Recent accounting pronouncements:





In May 2005, the FASB issued SFAS 154, "Accounting Changes and Error
      Corrections" which replaces

APB Opinion No. 20 "Accounting Changes" and SFAS No.3, "Reporting
      Accounting Changes in Interim

Financial Statements-An Amendment of APB Opinion No.28." SFAS 154
      provides guidance on the accounting for and reporting of accounting
      changes and error corrections. It establishes retrospective application,
      or the latest practicable date, as the required method for reporting a
      change in accounting principle and the reporting of a correction of an
      error. SFAS 154 is effective for accounting changes and corrections of
      errors made in fiscal years beginning after December 15, 2005. Adoption of
      SFAS 154 should not have an impact on our results of operations and
      financial condition.



Note 2. Company's Continued Existence:

The accompanying financial statements have been prepared in conformity
      with accounting principles generally accepted in the United States of
      America, which contemplate continuation of the Company as a going concern.
      However, the Company has sustained substantial losses and its liabilities
      exceed its assets. The Company intends to generate positive cash flows
      from operations through increased sales utilizing the network of
      distributors in place, issuing additional stock, and obtaining necessary
      capital through additional advances from the Company's principal
      stockholder or through private placements.

To continue operations, the Company must raise additional capital. As
      stated in Note 5, the Company completed a private placement of common
      stock for fiscal year 2006. Additionally, the Company completed an
      additional private placement of common stock in June 2006 for fiscal year
      2007. However, there can be no assurance the Company will be able to
      obtain additional capital from private placements in the future. The
      Company has no committed sources or arrangements for additional financing.



The financial statements do not include any adjustment relating to
      recoverability and classification of recorded assets, or the amounts and
      classification of liabilities that might be necessary should the Company
      be unable to continue to exist. Management believes that actions presently
      being taken provide the opportunity for the Company to continue as a going
      concern.



Note 3. Capital Lease Obligations:



The Company has capital leases for new computer equipment, expiring
      through October 2008. The leases bear interest ranging from 5% to 25%. The
      obligations are collateralized by the equipment under lease. Total cost
      and accumulated amortization of the lease equipment was $20,406 and
      $14,263 at May 31, 2006 and $20,406 and $7,461 at May 31, 2005.
      Amortization expense on the leased assets is included with depreciation
      expense.

Future minimum lease payments under capital lease and the net present
      value of the future minimum lease payments are as follows for the years
      ended May 31:



> 

Note 4. Stockholder Rights:

The Board of Directors has the power and authority to fix by resolution
      any designation, class, series, voting power, preference, right,
      qualification, limitation, restriction, dividend, time and place of
      redemption and conversion right with respect to any stock of the Company.



Note 5 Stock Transactions:

During the year ended May 31, 2006 the
      Company completed two private placements totaling 11,900,000 shares of
      restricted common stock in exchange for which it received $469,566.
      Subsequent to May 31, 2006, the Company sold an additional 10,000,000
      shares of restricted common stock in exchange for $200,000 in June 2006.



Stock Splits

The Company completed a one-for-six reverse stock split on May 22,
      2006. All per share information reflects the effect of this stock reverse
      stock split.

Note 6. Income Taxes:

The (benefit) for income taxes differs from the amount computed by
      applying the U.S. federal income tax rate to loss before income taxes as
      follows:



Tax law provides for limitation on the use of future loss carryovers
      should significant ownership changes occur. The Company has a net
      operating loss carry forwards of approximately $4,200,000 that expire
      through the year 2025.

Note 7. Related Party Transactions:

The principal stockholder and related entities have advances to the
      Company totaling $4,993 and $1,345,813 as of May 31,2006 and 2005,
      respectively. These amounts include accumulated accrued interest of $4,993
      and $539,991 as of May 31, 2006 and 2005, respectively. Interest on the
      advances is at 8%. Interest totaling $84,491 and $120,437 was charged to
      operations for the years ended May 31, 2006 and 2005, respectively.



Note 8 Commitments:

Operating Lease:

The Company rents office and warehouse space in Las Vegas, Nevada under
      terms of an operating lease which calls for an initial base monthly rental
      of approximately $6,700, increasing annually, plus common area operating
      expenses, through June 2009. Rent expense plus common area operating
      expenses under this agreement for the years ended May 31, 2006 and 2005
      was $101,689 and $92,530, respectively.

Minimum lease payments are the following for the years ending May
            31:



2007                                        
                $ 84,899

2008                                          
                87,446

2009                                          
                90,069

2010 7,524

> Total Future Minimum Lease Payments $269,938





Stock Bonus Plan:

The Company is offering 3,000,000 of its shares to its distributors
      under a plan whereby the distributors earn a stock bonus based on sales
      and "bonus points." A distributor who purchases enough product for 160
      points, sponsors three persons who each purchase enough product for 160
      points, and who in turn sponsor three additional persons who each purchase
      enough product for 160 points, will receive 10 certificates. Each
      certificate is redeemable for one share of the Company's common stock
      three years after the certificate has been earned. The number of
      certificates outstanding at May 31, 2006 and 2005 were 95,780 and 83,433,
      respectively. The liability for the bonus points of $103,395 and $100,287
      at May 31, 2006 and 2005, respectively, is included in accrued
      compensation. These amounts are redeemable into common stock at a fair
      market value on the date that they are fully earned and redeemed. During
      the years ended May 31, 2006 and 2005, respectively, no shares and 16,302
      shares were issued to various distributors under this plan.



Restricted Cash:

The Company has entered into several agreements with banks whereby a
      certain amount must be deposited into a restricted cash account in
      exchange for credit card processing services.



License Agreement:

The Company has entered into an intellectual property license agreement
      with an entity related to the principal stockholder and to a related
      foundation. The agreement calls for royalty payments to the entity and
      foundation that total 8% of "net sales price", subject to a minimum annual
      royalty fee of $500,000 payable to the entity related to the principal
      stockholder, and other conditions as defined by the agreement.

The minimum royalty fees expensed for the year ended May 31, 2006 and
      2005 were $500,000 and $500,000, respectively. The accrued royalties at
      November 30, 2005 totaled $1,150,000 and were converted to equity on
      January 9, 2006. Accrued royalties due under this license agreement are
      $250,000 and $900,736 at May 31, 2006 and 2005, respectively.



Note 9. Subsequent event:

As a continuation to the Company's private placement offering in May
      2006, the Company issued an additional 10,000,000 restricted common shares
      in exchange for $200,000 in cash.



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ITEM 8. CHANGES IN AND DISAGREEMENT WITH ACCOUNTANTS ON
ACCOUNTING AND FINANCIAL DISCLOSURE



Not applicable.

ITEM 8A. CONTROLS AND PROCEDURES



An evaluation was conducted under the supervision and with
the participation of our management, including Anthony Carl Jurak, our Chief
Executive Officer, and Roger Theriault, our President, and Maria Guedes, our
Vice President of Operations/Assistant Secretary, of the effectiveness of the
design and operation of our disclosure controls and procedures as of May 31,
2006. Based on that evaluation, Mr. Jurak, Mr. Theriault and Ms. Guedes
concluded that our disclosure controls and procedures were effective as of such
date to ensure that information required to be disclosed in the reports that we
file or submit under the Exchange Act, is recorded, processed, summarized and
reported within the time periods specified in Security and Exchange Commission
rules and forms. Such officers also confirm that there was no change in our
internal control over financial reporting during the fiscal year ended May 31,
2006 that has materially affected, or is reasonably likely to materially affect,
our internal control over financial reporting.





AUDIT COMMITTEE REPORT



The audit committee operates under a written charter adopted by the Board of
Directors during June 2004. As of the date of this Annual Report, Anthony Jurak
has been appointed to our audit committee. Mr. Jurak is not "independent" within
the meaning of Rule 10A-3 under the Exchange Act. The Board of Directors has
determined that there is not a financial expert serving on the audit committee.
We are currently involved in appointing a financial expert to the audit
committee, but haven't finalized such appointment as of the date of this Annual
Report.



The audit committee has reviewed and discussed with
management our audited financial statements as of and for fiscal year ended May
31, 2006. The audit committee has also discussed with Carver Moquist & O'Connor
LLC the matters required to be discussed by Statement on Auditing Standards No.
61, Communication with Audit Committees, as amended, by the Auditing Standards
Board of the American Institute of Certified Public Accountants. The audit
committee has received and reviewed the written disclosures and the letter from
Carver Moquist & O'Connor LLC required by Independence Standards Board Standard
No. 1, Independence Discussions with Audit Committees, as amended, and has
discussed with Carver Moquist & O'Connor LLC their independence.



Based on the reviews and discussions referred to above, the
audit committee has recommended to our Board of Directors that the audited
financial statements referred to above be included in our Annual Report on Form
10-KSB for fiscal year ended May 31, 2006 be filed with the Securities and
Exchange Commission.





ITEM 8B. OTHER INFORMATION



Not applicable.





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|Part III
|--------





ITEM 9. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL
PERSONS; COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE ACT



IDENTIFICATION OF DIRECTORS AND EXECUTIVE OFFICERS



All of our directors hold office until the next annual
general meeting of the shareholders or until their successors are elected and
qualified. Our officers are appointed by our Board of Directors and hold office
until their earlier death, retirement, resignation or removal.



As of the date of this Annual Report, our directors and
executive officers, their ages and positions held are as follows:



|NAME                 | AGE | OFFICES HELD                                                             
|-------------------- | --- | -------------------------------------------------------------------------
|Anthony C.
    Jurak | 68  | Director,
    Chairman of the Board and Chief Executive Officer/Secretary
|Roger Theriault      | 60  | Director, President                                                      
|Maria J.
    Guedes  | 37  | Vice
    President of Operations/AssistantSecretary                      
|                     |     |                                                                          

BIOGRAPHIES

The backgrounds of our directors and executive officers are
as follows:



Anthony C. Jurak. Mr. Jurak is the founder of our
company, and a director and Chairman of the Board and our Chief Executive
Officer/Secretary. Mr. Jurak was also a co-chairman and secretary/treasurer for
more than the five years of Matol Partners Corporation, terminating his position
in February 1997, and since has worked primarily for us. While with Matol
Partners Corporation, Mr. Jurak was in charge of finances and then committed his
time to marketing and sales. Mr. Jurak has broad marketing and financial
experience, including wholesale and retail companies.



Roger Theriault. Mr. Theriault is our President and a
director. Mr. Theriault was also the director of national sales for Shaklee
Canada from 1979 to 1984. During that time, he was mostly involved in marketing
and sales and responsible for three regional sales managers and more than
100,000 distributors. Mr. Theriault was the founder of Nova Sante Pacific
International where he worked from 1989 to 1994. Since 1995, he has been a
consultant to Triple Gold (Ecuador), Radical Advance Technologies and CiDem
(France).



Maria J. Guedes. Ms. Guedes is our Vice-President of
Operations, Assistant Secretary since 1997. Ms. Guedes is a graduate of Notre
Dame College (Canada) with a degree in business. Ms. Guedes provides human
resource management, maintains and oversees the development of our customized
computer databases, oversees inventory control systems, reviews accounting
practices and acts as the office manager/administrator.



FAMILY RELATIONSHIPS

There are no family relationships among our directors or
officers.

INVOLVEMENT IN CERTAIN LEGAL PROCEEDINGS

During the past five years, none of our directors, executive
officers or persons that may be deemed promoters is or have been involved in any
legal proceeding concerning (i) any bankruptcy petition filed by or against any
business of which such person was a general partner or executive officer either
at the time of the bankruptcy or within two years prior to that time; (ii) any
conviction in a criminal proceeding or being subject to a pending criminal
proceeding (excluding traffic violations and other minor offenses); (iii) being
subject to any order, judgment or decree, not subsequently reversed, suspended,
or vacated, of any court of competent jurisdiction permanently or temporarily
enjoining, barring, suspending or otherwise limiting involvement in any type of
business, securities or banking activity; or (iv) being found by a court, the
Securities and Exchange Commission or the Commodity Futures Trading Commission
to have violated a federal or state securities or commodities law (and the
judgment has not been reversed, suspended or vacated).



COMMITTEES OF THE BOARD OF DIRECTORS



Audit Committee



The audit committee operates under a written charter adopted by the Board of
Directors during June 2004. As of the date of this Annual Report, Anthony Jurak
has been appointed to our audit committee. Mr. Jurak is not "independent" within
the meaning of Rule 10A-3 under the Exchange Act. The Board of Directors has
determined that there is not a financial expert serving on the audit committee.
We are currently involved in appointing a financial expert to the audit
committee, but haven't finalized such appointment as of the date of this Annual
Report.



The audit committee's primary function is to provide advice
with respect to our financial matters and to assist the Board of Directors in
fulfilling its oversight responsibilities regarding finance, accounting, and
legal compliance. The audit committee's primary duties and responsibilities will
be to: (i) serve as an independent and objective party to monitor our financial
reporting process and internal control system; (ii) review and appraise the
audit efforts of our independent accountants; (iii) evaluate our quarterly
financial performance as well as our compliance with laws and regulations; (iv)
oversee management's establishment and enforcement of financial policies and
business practices; and (v) provide an open avenue of communication among the
independent accountants, management, and the Board of Directors.



COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE ACT

Section 16(a) of the Exchange Act requires directors and
officers, and the persons who beneficially own more than 10% of common stock of
certain companies, to file reports of ownership and changes in ownership with
the Securities and Exchange Commission. We are not required to file reports
under Section 16 of the Exchange Act.



ITEM 10. EXECUTIVE COMPENSATION

During fiscal years ended May 31, 2006 and 2005, certain
officers were compensated for their role as executive officers. As of the date
of this Annual Report, we do not have any stock option, pension, annuity,
insurance, profit sharing or similar benefit plans. Executive compensation is
subject to change concurrent with our requirements. We do not have employment
agreements with any of our officers.



Generally, our directors do not receive salaries or fees for
serving as directors nor do they receive any compensation for attending meetings
of the Board of Directors. However, we may adopt a director compensation policy
in the future. We do not currently have any standard arrangement pursuant to
which our directors are compensated for services provided as a director or for
committee participation or special assignments. Directors are, however, entitled
to reimbursement of expenses incurred in attending meetings.



SUMMARY COMPENSATION TABLE



Compensation



None of our executive officers received an annual salary and
bonus that exceeded $60,000 during the fiscal years ended May 31, 2006, 2005 and
2004. We do not currently have a compensation committee. Compensation decisions
are made from time-to-time by our Board of Directors with no established
policies or formulas. The following table sets forth the compensation received
by Mr. Jurak.

|                                                                                       |                   |                            |                |                                                 | Long Term Compensation                    |                                                   
|-------------------------------------------------------------------------------------- | ----------------- | -------------------------- | -------------- | ----------------------------------------------- | ----------------------------------------- | --------------------------------------------------
|                                                                                       |                   | Annual Compensation        | Awards         | Payouts                                         |                                          
|                                                                                       |                   |                            |                |                                                 |                                           |                                                   
|Name and Principal
    Position                                                        | Year              | Salary
    ($)             | Bonus
    ($)  | Other
    Annual
    Compen-
    sation
    ($) | Restricted
    Stock
    Award(s)
    ($) | Securities
    Underlying
    Options/SARs
    (#)
|Anthony Jurak 
    Chief Executive Officer/ Secretary, Chairman of the Board, Director | 20062005
    2004 | $60,000$60,000
    $60,000 | NilNil
    Nil | NilNil
    Nil                                  | NoneNone
    None                         | NilNil
    Nil                                    
|                                                                                       |                   |                            |                |                                                 |                                           |                                                   



Stock Options/SAR Grants In Fiscal Year Ended May 31, 2006

As of the date of this Annual Report, we do not have a stock
option plan in effect. The following reflects the information for fiscal year
ended May 31, 2006 regarding stock options. No stock options were granted in any
previous fiscal years.

|Name           | Number of
    Securities
    Under
    Options/SARs
    Granted | % of Total
    Options/SARs
    Granted to
    Employees in
    Financial Year | Exercise or
    Base Price
    ($/Security) | Expiration Date
|-------------- | --------------------------------------------------------------- | ------------------------------------------------------------------------------ | ------------------------------------------- | ---------------
|Not Applicable | Nil                                                             | Nil                                                                            | Nil                                         | Not applicable 

Long Term Incentive Plan ("LTIP") Awards Table

We have no long-term incentive plans in place and therefore
there were no awards made under any long-term incentive plan to any of the above
executive officers during fiscal year ended May 31, 2006.



EMPLOYMENT AGREEMENTS



As of the date of this Annual Report, we do not have any
employment agreements with our executive officers, but we intend to enter into
such agreements with our senior executive officers in the future.

ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
MANAGEMENT

As of the date of this Annual Report, the following table
sets forth certain information with respect to the beneficial ownership of our
common stock by each stockholder known by us to be the beneficial owner of more
than 5% of our common stock and by each of our current directors and executive
officers. Each person has sole voting and investment power with respect to the
shares of common stock, except as otherwise indicated. Beneficial ownership
consists of a direct interest in the shares of common stock, except as otherwise
indicated. As of May 31, 2006, there are 90,631,791 shares of common stock
issued and outstanding.





|Title of Class | Name and Address of Beneficial
    Owner    | Amount and Nature of
    Beneficial Ownership | Percentage
    of Class
|-------------- | ------------------------------------------- | --------------------------------------------- | -----------------------
|Common         | Anthony C.
    Jurak(1) (2) (3)             | 68,482,885                                    | 68.05%                 
|Common         | Roger Theriault
    (1)                     | 7,096,037                                     | 7.05%                  
|Common         | Maria Guedes(1)                             | 75,564                                        | 0.08%                  
|Common         | Executive Officers/Directors as
    a group | 75,564,486                                    | 75.18%                 
|               |                                             |                                               |                        





> (1) The address for all management is 1181 Grier Drive, Suite C,
>               Las Vegas, Nevada 89119.
>               (2) 31,498,393 shares
>               held in trust by Jurak Holdings Limited, 4478 97th Street,
>               Edmonton, Alberta, Canada T6E 5R9, of which Anthony Jurak is the
>               sole beneficiary.
>               (3) 18,788,675 shares
>               held in trust by 152581 Canada Ltd., c/o 1181 Grier Drive, Suite
>               C, Las Vegas, Nevada 89119, of which Anthony Jurak is the sole
>               beneficiary



CHANGES IN CONTROL

Our Board of Directors is unaware of any arrangement or
understanding among the individuals listed in the beneficial ownership table
with respect to election of our directors or other matters. We are unaware of
any contract or other arrangement the operation of which may at a subsequent
date result in a change in control of our company.

ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

On approximately January 1, 1999, we entered into an
intellectual property license agreement (the "License Agreement") with Jurak
Holdings Limited, a corporation organized under the laws of the Province of
Alberta and an affiliate of our Chief Executive Office and one of our directors,
Anthony Jurak. Pursuant to the terms and provisions of the License Agreement,
beginning with fiscal year 2003, for a term of ten (10) years, we are required
to pay annually the greater of $500,000 ("Minimum Royalty Fee") or eight percent
(8%) of the net sales revenue ("Continuing Royalty Fee") of all licensed
products sold under the license agreement. After fiscal 2013, we are required to
make payments in the amount of the Continuing Royalty Fee. As of the date of
this Annual Report, the amount of the Accrued Minimum Royalty Fee due and owing
is $250,000.



ITEM 13. EXHIBITS

(a) Exhibit List

31.1     Certificate pursuant to Rule 13a-14(a)

32.1     Certificate pursuant to 18 U.S.C. Subsection 1350

ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES

AUDIT FEES

During fiscal year ended May 31, 2006, we incurred
approximately $21,788 in fees to our principal independent accountants for
professional services rendered in connection with preparation and audit of our
financial statements for fiscal year ended May 31, 2006 and for the review of
our financial statements for the quarters ended August 31, 2005, November 30,
2005 and February 28, 2006.



During fiscal year ended May 31, 2005, we incurred
approximately $10,542 in fees to our principal independent accountant for
professional services rendered in connection with audit of our financial
statements for fiscal year ended May 31, 2005 and for the review of our
financial statements for the quarters ended August 31, 2004, November 30, 2004
and February 28, 2005.



Our principal accountants did not bill any other
audit-related fees during the respective time periods.

TAX FEES

During the fiscal year ended May 31, 2006, we incurred
approximately $3,500 to our principal independent accountants for professional
services rendered in connection with tax compliance, consultation, and planning,
including preparation of federal and state income tax returns for the years
ended May 31, 2004 and 2005. Tax returns for the fiscal year ended May 31, 2006
have not been prepared; therefore, no costs have been incurred.



ALL OTHER FEES



During the fiscal year ended May 31, 2005, we incurred
approximately $2,500 to our principal independent accountants for professional
services other than audit and tax services.



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SIGNATURES

In accordance with Section 13 or 15(d) of the Exchange Act,
the registrant caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.

Jurak Corporation World Wide, Inc. (Registrant)



By /s/ Anthony Jurak
Anthony Jurak 
Chairman, Chief Executive Officer and Director

Date September 11, 2006



In accordance with the Exchange Act, this report has been
signed below by the following persons on behalf of the registrant and in the
capacities and on the dates indicated.

By /s/ Anthony Jurak
Anthony Jurak 
Chairman of the Board, Director

Date September 11, 2006



By /s/ Roger Theriault
Roger Theriault 
President, Director

Date September 11, 2006