Pieris Pharmaceuticals, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

RESTATEMENT

RESTATEMENT

3 Months Ended

Sep. 30, 2014

The financial statements have been revised to correct certain immaterial, inadvertent accounting errors. The Company incorrectly (a) failed to account for “Loans from a director” in the aggregate amount of $3,000, and (b) recognized “Proceeds from sale of common stock” in the amount of $3,000, which resulted in an erroneous misstatement that the number of shares outstanding as of September 30, 2014 was 6,250,000 rather than the correct number of 6,100,000. In accordance with applicable Generally Accepted Accounting Principles (GAAP), the Company has calculated and recognized adjustments accordingly.

The following tables show the effects of the restatement on the Company’s financial statements for the applicable periods:

MARIKA INC.

(A DEVELOPMENT STAGE COMPANY)

BALANCE SHEETS

	Three Months Ended September 30, 2014 (Unaudited)
	As Previously Recorded			As Restated

Loans from a director	$	474		$	3,474

Total Liabilities	$	1,124		$	4,124

Common stock, par value $0.001; 75,000,000 shares authorized, 6,100,000 shares issued and outstanding	$	6,250		$	6,100

Additional paid in capital	$	22,750		$	19,900

Total Stockholders’ Equity/(Deficit)	$	(904	)		(3,904	)

MARIKA INC.

(A DEVELOPMENT STAGE COMPANY)

STATEMENTS OF OPERATIONS

(Unaudited)

	Three Months Ended September 30, 2014 (Unaudited)
	As Previously Recorded		As Restated

WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED		6,250,000		6,100,000

MARIKA INC.

(A DEVELOPMENT STAGE COMPANY)

STATEMENTS OF CASH FLOWS

(Unaudited)

	Three months ended September 30, 2014				For the period from May 24, 2013 (Inception) to September 30, 2014
	As Previously Recorded		As Restated		As Previously Recorded		As Restated

Proceeds from sale of common stock	$	3,000	$	-	$	29,000	$	26,000

Loans from a director	$	-	$	3,000	$	474	$	3,474