[X]
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Quarterly
Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of
1934
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For
the quarterly period ended
February 28,
2009
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[ ]
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Transition
Report pursuant to 13 or 15(d) of the Securities Exchange Act of
1934
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For
the transition period
to
__________
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Commission
File Number:
333-149197
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Nevada
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39-2068976
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(State
or other jurisdiction of incorporation or
organization)
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(IRS
Employer Identification
No.)
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#108-2940
Louise Street Saskatoon, Saskatchewan
Canada S7J 5K2
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(Address
of principal executive
offices)
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206-339-9420
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(Issuer’s
telephone number)
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_______________________________________________________________
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(Former
name, former address and former fiscal year, if changed since last
report)
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[ ]
Large accelerated filer Accelerated filer
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[ ]
Non-accelerated filer
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[X]
Smaller reporting company
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TABLE
OF
CONTENTS
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Page
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PART I – FINANCIAL INFORMATION
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PART II – OTHER INFORMATION
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||
Our
financial statements included in this Form 10-Q are as
follows:
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|
ASSETS
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February 28,
2009
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November 30,
2008
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|||
(unaudited)
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(audited)
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||||
Current
Assets
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|||||
Cash
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$ | 6,417 | $ | 6,896 | |
Total
Current Assets
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6,417 | 6,896 | |||
Computer
equipment, net of accumulated depreciation of $867
(2008-$771)
|
847 | 943 | |||
TOTAL
ASSETS
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$ | 7,264 | $ | 7,839 | |
LIABILITIES
AND STOCKHOLDERS’ DEFICIT
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|||||
Current
Liabilities
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|||||
Accounts
payable and accrued liabilities
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$ | 9,792 | $ | 10,492 | |
Advances
from director
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24,932 | 16,459 | |||
Total
Liabilities
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34,724 | 26,951 | |||
STOCKHOLDERS’
DEFICIT
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|||||
Common
stock, $.001 par value, 50,000,000 shares authorized, 2,515,000 shares
issued and outstanding
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2,515 | 2,515 | |||
Additional
paid in capital
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58,685 | 58,685 | |||
Deficit
accumulated during the development stage
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(88,660) | (80,312) | |||
Total
Stockholders’ Deficit
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(27,460) | (19,112) | |||
TOTAL
LIABILITIES AND STOCKHOLDERS’ DEFICIT
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$ | 7,264 | $ | 7,839 |
Three
months ended
February
28, 2009
|
Three
months ended
February
29, 2008
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Period
from
December
13, 2006
(Inception)
to
February
28, 2009
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||||||
Revenues
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$ | 0- | $ | 0- | $ | 0- | ||
General
and Administrative Expenses:
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||||||||
Depreciation
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96 | 96 | 867 | |||||
General
and administrative
|
691 | 404 | 5,551 | |||||
Filing
and registration fees
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-0- | -0- | 13,320 | |||||
Professional
fees
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5,505 | 11,322 | 41,588 | |||||
Management
fees
|
417 | 417 | 3,512 | |||||
Rent
and utilities
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1,639 | 1,639 | 13,795 | |||||
Travel,
meals and entertainment
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-0- | -0- | 5,633 | |||||
Website
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-0- | 332 | 4,394 | |||||
Total
General and Administrative Expenses
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8,348 | 14,210 | 88,660 | |||||
Net
Loss
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$ | ( 8,348) | $ | (14,210) | $ | (88,660) | ||
Net
Loss Per Share:
Basic and diluted
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$ | 0 .00 | $ | ( 0 .01) | ||||
Weighted
Average Shares Outstanding: Basic and diluted
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2,515,000 | 2,515,000 |
Common
stock
|
Additional
paid-in
|
Deficit
accumulated
during
the
development
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||||||||||||
Shares
|
Amount
|
capital
|
stag
e
|
Total
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||||||||||
Issuance
of common stock
for
cash to founders
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2,000,000 | $ | 2,000 | $ | 18,000 | $ | - | $ | 18,000 | |||||
Issuance
of common stock
for
cash at $ .08 per share
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515,000 | 515 | 40,685 | - | 41,200 | |||||||||
Net
loss for the period
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- | - | - | (26,282) | (26,282) | |||||||||
Balance,
November 30, 2007
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2,515,000 | 2,515 | 58,685 | (26,282) | 34,918 | |||||||||
Net
loss for the period
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- | - | - | (54,030) | (54,030) | |||||||||
Balance,
November 30, 2008
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2,515,000 | 2,515 | 58,685 | (80,312) | (19,112) | |||||||||
Net
loss for the period
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- | - | - | (8,348) | (8,348) | |||||||||
Balance,
February 28, 2009
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2,515,000 | $ | 2,515 | $ | 58,685 | $ | (88,660) | $ | (27,460) |
Three
months
ended
February
28, 2009
|
Three
months
ended
February
29, 2008
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Period
from
December
13, 2006 (Inception) to February 28, 2009
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||||||
CASH
FLOWS FROM OPERATING ACTIVITIES
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||||||||
Net
loss
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$ | (8,348) | $ | (14,210) | $ | (88,660) | ||
Adjustments
to reconcile net loss to cash used by operating
activities:
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||||||||
Depreciation
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96 | 96 | 867 | |||||
Change
in non-cash working capital items
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||||||||
Accounts
payable and accrued liabilities
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(700) | (822) | 9,792 | |||||
CASH
FLOWS USED IN OPERATING ACTIVITIES
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(8,952) | (14,936) | (78,001) | |||||
CASH FLOWS USED IN INVESTING ACTIVITIES | ||||||||
Acquisition
of computer equipment
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-0- | -0- | (1,714) | |||||
CASH
FLOWS FROM FINANCING ACTIVITIES
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||||||||
Proceeds
from sales of common stock
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-0- | -0- | 61,200 | |||||
Advances
from director
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8,473 | 2,594 | 24,932 | |||||
CASH
FLOWS PROVIDED BY FINANCING ACTIVITIES
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8,473 | 2,594 | 86,132 | |||||
NET
INCREASE (DECREASE) IN CASH
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(479) | (12,342) | 6,417 | |||||
Cash,
beginning of period
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6,896 | 46,496 | -0- | |||||
Cash,
end of period
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$ | 6,417 | $ | 34,154 | $ | 6,417 | ||
SUPPLEMENTAL
CASH FLOW
INFORMATION
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||||||||
Interest
paid
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$ | - | $ | - | $ | - | ||
Income
taxes paid
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$ | - | $ | - | $ | - |
§
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interactive
forums for visitors
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§
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video
and audio discussions of the
ailment
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§
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continuously
updated relevant information, news and
links
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§
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blogs
or web logs
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§
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guest
contributors such as doctors, patients, and
others
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§
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sponsored
areas which are maintained by third
parties
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§
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Develop
relationships with sponsors interested in adding content, participating in
forums, and using our portals to market their products and
services.
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§
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Contract
with affiliates – most likely other websites which sell products and
services – to share revenue from sales referred through our
portals.
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§
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Add
an interactive forum to the
website.
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§
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Add
additional content on a regular basis and increase the number of web
pages, which should drive traffic and increased revenue from
advertisers.
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§
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Enhance
our tracking of visits, page views and other usage
data.
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§
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Engage
a website optimization consultant to improve our ranking on Google and
other search engines.
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§
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Travel
and Related expenses, which will consist primarily of our executive
officers and directors visiting food merchants and resellers in their
sales efforts. We estimate travel and related expenses for the next twelve
months will be approximately
$4,000;
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§
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Initial
Marketing, which will consist of the marketing efforts discussed above,
including direct marketing and attendance at trade shows. We estimate
initial marketing expenses for the next twelve months will be
approximately $2,000
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§
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Research
and Development costs consist of developing and testing our Site. We
estimate that research and development costs for the next twelve months
will be approximately $5,000
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§
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Office
rent of $6,000
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§
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Internet
and telephone expenses of $900
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§
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Management
fees to Barbara Lamb of $1,680
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Exhibit
Number
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Description
of Exhibit
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Wishart
Enterprises Limited
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|
Date:
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April
10, 2009
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By:
/s/ Barbara
Lamb
Barbara
Lamb
Title:
Chief
Executive Officer and
Director
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(1)
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I
have reviewed this quarterly report on Form 10-Q of Wishart Enterprises
Limited;
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(2)
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Based
on my knowledge, this report does not contain any untrue statement of a
material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this
report;
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(3)
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Based
on my knowledge, the financial statements, and other financial information
included in this report, fairly present in all material respects the
financial condition, results of operations and cash flows of the small
business issuer as of, and for, the periods presented in this
report;
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(4)
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The
small business issuer’s other certifying officer(s) and I are responsible
for establishing and maintaining disclosure controls and procedures (as
defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the small
business issuer and have:
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a)
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Designed
such disclosure controls and procedures, or caused such disclosure
controls and procedures to be designed under our supervision, to ensure
that material information relating to the small business issuer, including
its consolidated subsidiaries, is made known to us by others within those
entities, particularly during the period in which this report is being
prepared;
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b)
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Evaluated
the effectiveness of the small business issuer’s disclosure controls and
procedures and presented in this report our conclusions about the
effectiveness of the disclosure controls and procedures, as of the end of
the period covered by this report based on such evaluation;
and
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c)
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Disclosed
in this report any change in the small business issuer's internal control
over financial reporting that occurred during the small business issuer's
most recent fiscal quarter (the small business issuer’s fourth quarter in
the case of an annual report) that has materially affected, or is
reasonably likely to materially affect, the small business issuer's
internal control over financial reporting;
and
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(5)
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The
small business issuer’s other certifying officer(s) and I have disclosed,
based on our most recent evaluation of the internal control over financial
reporting, to the small business issuer’s auditors and the audit committee
of small business issuer’s board of directors (or persons performing the
equivalent functions):
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a)
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All
significant deficiencies and material weaknesses in the design or
operation of internal control over financial reporting which are
reasonably likely to adversely affect the small business issuer’s ability
to record, process, summarize and report financial information;
and
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b)
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Any
fraud, whether or not material, that involves management or other
employees who have a significant role in the small business issuer’s
internal control over financial
reporting.
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Date:
April 10, 2009
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/s/ Barbara
Lamb
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By: Barbara
Lamb
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Title: Chief
Executive Officer
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(1)
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I
have reviewed this quarterly report on Form 10-Q of Wishart Enterprises
Limited;
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(2)
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Based
on my knowledge, this report does not contain any untrue statement of a
material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this
report;
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(3)
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Based
on my knowledge, the financial statements, and other financial information
included in this report, fairly present in all material respects the
financial condition, results of operations and cash flows of the small
business issuer as of, and for, the periods presented in this
report;
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(4)
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The
small business issuer’s other certifying officer(s) and I are responsible
for establishing and maintaining disclosure controls and procedures (as
defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the small
business issuer and have:
|
|
a)
|
Designed
such disclosure controls and procedures, or caused such disclosure
controls and procedures to be designed under our supervision, to ensure
that material information relating to the small business issuer, including
its consolidated subsidiaries, is made known to us by others within those
entities, particularly during the period in which this report is being
prepared;
|
|
b)
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Evaluated
the effectiveness of the small business issuer’s disclosure controls and
procedures and presented in this report our conclusions about the
effectiveness of the disclosure controls and procedures, as of the end of
the period covered by this report based on such evaluation;
and
|
|
c)
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Disclosed
in this report any change in the small business issuer's internal control
over financial reporting that occurred during the small business issuer's
most recent fiscal quarter (the small business issuer’s fourth quarter in
the case of an annual report) that has materially affected, or is
reasonably likely to materially affect, the small business issuer's
internal control over financial reporting;
and
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(5)
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The
small business issuer’s other certifying officer(s) and I have disclosed,
based on our most recent evaluation of the internal control over financial
reporting, to the small business issuer’s auditors and the audit committee
of small business issuer’s board of directors (or persons performing the
equivalent functions):
|
|
a)
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All
significant deficiencies and material weaknesses in the design or
operation of internal control over financial reporting which are
reasonably likely to adversely affect the small business issuer’s ability
to record, process, summarize and report financial information;
and
|
|
b)
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Any
fraud, whether or not material, that involves management or other
employees who have a significant role in the small business issuer’s
internal control over financial
reporting.
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Date:
April 10, 2009
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/s/ Barbara
Lamb
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By: Barbara
Lamb
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Title: Chief
Financial Officer
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(1)
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the
quarterly Report on Form 10-Q of Wishart Enterprises Limited for the
quarter ended February 28, 2009 fully complies with the requirements
of Section 13(a) or 15(d) of the Securities Exchange Act of 1934;
and
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(2)
|
the
information contained in the quarterly Report on Form 10-Q for the quarter
ended February 28, 2009, fairly presents in all material respects,
the financial condition and results of operations of Wishart Enterprises
Limited
|
By:
|
/s/Barbara
Lamb
|
Name:
|
Barbara Lamb |
Title:
|
Principal
Executive Officer,
Principal
Financial Officer and Director
|
Date:
|
April
10, 2009
|