What changed in this filing

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Item 1. Business

2023-04-21 compared with 2022-03-31 · 185 added, 81 removed, 4 unchanged (99% of the section changed)

ITEM 1 - BUSINESS

BoxScore Brands, Inc.

(formerly U-Vend Inc.) (the

“Company”) is a US based renewable energy company focused on the extraction, refinement and distribution of technical minerals.

The Company formerly developed, marketed and distributed

various self-serve electronic kiosks and mall/airport co-branded islands throughout North America.

Due to the nationwide shutdown

related to the COVID-19 pandemic, the Company spent a portion of 2020 restructuring and retiring certain corporate debt and obligations.

The Company focused on implementing a new operational direction.

Through the corporate reorganization and repositioning

process, the Company found itself with the unique opportunity to expand its management team and acquire mining claims that historically

reported high levels of Lithium and other tech minerals.

The Company hired and affiliated itself with industry veterans that bring decades

of experience, credibility and relationships.

On November 5, 2021, the Company acquired

the rights to 102 Federal Mining Claims located in the Lisbon Valley of Utah.

The acquisition was driven by historical

mineral data from seven (7) existing wells with brine aquifer access.

The independent third-party Technical Report indicated that

further investment and development in the claims were warranted.

The Company has been executing the necessary

steps to prove the tech reports findings and has retained RESPEC Company LLC as its Geotech, Engineering and Resource Management partner

to assist in the exploration of the Lisbon Valley brine extraction project.

Leveraging their expertise, the company will focus on several

initiatives, that include:

● Advancement of geotech, engineering, geology

and fieldwork to complete Technical Reports on the Lisbon Project.

● Understanding Lisbon Valley brines, on and around

owned leases.

● Develop a well plan to re-enter, sample, and

test the “Superior Well”, that has a historical lithium concentration of 730 ppm (parts per million).

● Enter other prospective plugged and abandoned

wells, taking brine samples and performing hydrological testing at each identified high potential zone to evaluate the properties of the

clastic formation.

● As information is advanced, prepare technical

reports following the NI 43-101 Standards of Disclosure for Mineral Projects, initially a Preliminary Economic Assessment (PEA) and longer

term, a Preliminary Feasibility Study (PFS).

● Test the collected brines for lithium, but also

for previously identified high value elements such as cobalt, manganese, magnesium, and suites of metals in the alkaline earth metals,

transition metals, and halogens group.

● Based on the results of the

Superior well, develop area resource estimates .

The Company has been moving forward with its strategy

of employing advanced brine extractive technology methodologies and has been in talks with numerous extraction providers.

Selective mineral

extraction is clearly the most cost-effective and ESG friendly approach currently available.

Technologies are being utilized that can

extract the desired minerals and metals from the brine and then re-inject the brines back down into the aquafer.

The prospective partners

have been provided the analytical results from the technical reports, but will soon provide current results, analytical, Geotech modeling,

aquifer modeling, recharge, flows, and depth.

The Lisbon Valley of Utah also provides many added

(the “ Company ”)

is a US based renewable energy company focused on the extraction, refinement and distribution of technical minerals in an environmentally

responsible manner.

The Company formerly developed, marketed and distributed various self-serve electronic kiosks and mall/airport co-branded

islands throughout North America.

Due to the nationwide shutdown related to the COVID-19 pandemic, the Company spent a portion of

2020 restructuring and retiring certain corporate debt and obligations, and focusing on implementing a new operational direction.

Through the corporate

reorganization and repositioning process, the Company found itself with the unique opportunity to expand its management team and acquire

mining claims that historically reported high levels of Lithium and other tech minerals.

The Company hired and affiliated itself with

industry veterans that bring decades of experience, credibility and relationships.

On November 5, 2021,

the Company acquired the rights to 102 Federal Mining Claims located in the Lisbon Valley of Utah for $100,000.

The acquisition was driven

by historical mineral data from seven (7) existing wells with brine aquifer access.

We have not yet commenced any mining operations, and

we are an Exploration Stage Company, as defined in Regulation S-K, Subpart 1300 (“ Regulation S-K 1300 ”).

An independent

third-party technical report indicated that further investment and development in the claims was warranted, although no determination

has been made whether we have any reserves of minerals.

Similarly, no determined has been made whether mineralization could be economically

and legally produced or extracted.

We have no reserves as defined by Regulation S-K 1300.

On October 20, 2022 the

Company, following receipt of written approval from stockholders acting without a meeting and holding at least the minimum number of votes

that would be necessary to authorize or take such action at a meeting, filed an amendment to its Certificate of Incorporation to (i) change

the name of the Company to “AMERICAN BATTERY MATERIALS, INC.” (the “ Name Change ”);

and, (ii) increase the

total number of authorized shares of the Company’s common stock, par value $0.001 per share, from 600,000,000 to 4,500,000,000 (the

“ Authorized Share Increase ”).

The Name Change will be effective upon confirmation by FINRA, at which time a new trading

symbol will also be issued.

The Authorized Share Increase was effective as of October 20, 2022.

On October 20, 2022,

in addition to the Name Change and the Authorized Share Increase, the holder of 63.86% of the issued and outstanding shares of stock of

the Company entitled to vote took action by written consent and without a meeting, pursuant to Delaware General Corporate Law Section

228, and adopted and approved the following actions:

Future amendment of the Company’s Certificate of Incorporation to implement a decrease in the authorized shares of the Company’s Common Stock from 4,500,000,000 to a number of not less than 10,000,000 and not more than 2,000,000,000 (the “ Authorized Share Reduction ”), at any time prior to October 20, 2023 (the “ Anniversary Date ”), with the Board having the discretion to determine whether or not the Authorized Share Reduction is to be effected, and if effected, the exact number of the Authorized Share Reduction within the above range.

Future amendment of the Company’s Certificate of Incorporation to implement a reverse stock split of the Company’s Common Stock by a ratio of not less than 1-for-10 and not more than 1-for-1,000, (the “ Reverse Split ”), at any time prior to the Anniversary Date, with the Board having the discretion to determine whether or not the Reverse Split is to be effected, and if effected, the exact ratio for the Reverse Split within the above range.

Our strategic goal is

to become a leading producer of lithium in the United States.

The Company believes that a strategy of employing advanced brine extractive

technology methodologies for selective mineral extraction is the most cost-effective and ESG friendly approach currently available.

are being utilized that can extract the desired minerals and metals from the brine and then re-inject the brines back down into the aquafer.

We plan, as part of our sustainability goals within our overall environmental, social and governance (“ ESG ”) strategy,

to develop the among the most sustainable production operations in the world.

Our plan is to develop our projects and strategic equity

investments on a measured timeline to provide the potential for both near-term cash flow and long-term value maximization.

The Company has been

executing the necessary steps to determine analytical results from the technical report, which should provide current results, analytical,

geotech modeling, aquifer modeling, recharge, flows, and depth.

The Company has renewed its engagement of RESPEC Company LLC as its geotech,

engineering and resource management partner to assist in the exploration of the Lisbon Valley brine extraction project.

Leveraging their

expertise, the company will focus on several initiatives, which include the following:

Advancement of geotech, engineering, geology and fieldwork to complete Technical Reports on the Lisbon Project.

Understanding Lisbon Valley brines, on and around owned leases.

Develop a well plan to re-enter, sample, and test the “Superior Well”, that has a historical lithium concentration of 730 ppm (parts per million).

Enter other prospective plugged and abandoned wells, taking brine samples and performing hydrological testing at each identified high potential zone to evaluate the properties of the clastic formation.

As information is advanced, prepare technical reports following the NI 43-101 Standards of Disclosure for Mineral Projects, initially a Preliminary Economic Assessment (PEA) and longer term, a Preliminary Feasibility Study (PFS).

Test the collected brines for lithium, but also for previously identified high value elements such as cobalt, manganese, magnesium, and suites of metals in the alkaline earth metals, transition metals, and halogens group.

Based on the results of the Superior well, develop area resource estimates.

The Lisbon Valley of

Utah also provides many added benefits:

Historically rich industrial and natural resource extraction area.

A developed infrastructure including high voltage electrical, proximity to major roadways and rail spurs.

● State and local agency support through the Utah Division of Oil, Gas and Mining and the Trust Land Administration

The Company will also look to expand its holdings

in the Lisbon Valley area with the acquisition of additional mineral claims and joint venture opportunities.

As of March 31, 2022, the Company had one full-time

employee and a part time employee.

The Company maintains one active website, www.boxscore.com,

which serves as its corporate website and contains information about the Company and its business.

Corporate Information and Incorporation

BoxScore Brands, Inc.

was incorporated in March

2007 as a Delaware corporation and we refer to the company as “we”, “us”, the “Company”, “BoxScore

Brands” or “BoxScore” in this annual report.

In February 2018, we filed an amendment to our certificate of incorporation

to change our corporate name from U-Vend Inc.

to BoxScore Brands, Inc.

headquartered in Las Vegas, NV.

Our corporate office is located at 3275 South Jones Blvd, Suite 104, Las Vegas, NV 89146 and our telephone

number is (800) 998-7962.

Information contained on our website is not a part of this

annual report.

State and local agency support through the Utah Division of Oil, Gas and Mining and the Trust Land Administration (SITLA)

The Company will also

look to expand its holdings in the Lisbon Valley area with the acquisition of additional mineral claims and joint venture opportunities.

The Company continues to explore and evaluate opportunities to further expand its resource base and production capacity through the possible

acquisition of properties and projects in other areas of the United States, as well as in South America.

Raw Materials

We do not have any material

dependence on any raw materials or raw material suppliers.

All of the raw materials that we need are available from numerous suppliers

and at market-driven prices.

Intellectual Property

We do not own or license

any intellectual property which we consider to be material.

As we are not yet in

production, we have no customers and have no offtake agreements with customers.

Competition and

Market Barriers

We compete with other

mineral and chemical processing companies in connection with the acquisition of suitable exploration properties and the engagement of

qualified personnel.

Many of our competitors possess greater financial resources and technical facilities than we do.

Although we aspire

to be a leading lithium producer, the lithium mining and chemical industries are fragmented.

We are one of many participants in these

Many of our competitors, as compared to us, have been in business longer, have established more strategic partnerships and relationships,

and have greater financial accessibility.

While we compete with

other exploration companies in acquiring suitable properties, we believe there will be readily available purchasers of lithium chemical

products or other industrial minerals if they are produced from any of our owned or leased properties.

The price of our planned products

may be affected by factors beyond our control, including fluctuations in the market prices for lithium, supplies of lithium, demand for

lithium, and mining activities of others.

If we identify lithium mineralization that is determined to be of economic grade and in sufficient

quantity to justify production, additional capital would be required to develop, mine, and sell that production.

Government Regulations

Exploration and development

activities for our projects are subject to extensive laws and regulations, which are overseen and enforced by multiple U.S.

federal, state,

and local authorities as well as foreign jurisdictions.

These applicable laws govern exploration, development, production, exports, various

taxes, labor standards, occupational and mine health and safety, waste disposal, protection and remediation of the environment, protection

of endangered and protected species, and other matters.

Various permits from government bodies are required for drilling, mining, or manufacturing

operations to be undertaken, and we cannot be assured such permits will be received.

Environmental laws and regulations may also, among

other things:

● require notice to stakeholders of proposed and ongoing exploration, drilling, environmental studies, mining,

or production activities;

● require the installation of pollution control equipment;

● restrict the types, quantities and concentrations of various substances that can be released into the

environment in connection with exploration, drilling, mining, lithium manufacturing, or other production activities;

● limit or prohibit drilling, mining, lithium manufacturing or other production activities on lands located

within wetlands, areas inhabited by endangered species and other protected areas, or otherwise restrict or prohibit activities that could

impact the environment, including water resources;

● impose substantial liabilities for pollution resulting from current or former operations on or for any

preexisting environmental impacts from our projects;

● require significant reclamation obligations in the future as a result

of our extraction and chemical operations;

● require preparation of an environmental assessment or an environmental impact statement.

Compliance with environmental

laws and regulations may impose substantial costs on us, subject us to significant potential liabilities, and have an adverse effect on

our capital expenditures, results of operations, or competitive position.

Violations and liabilities with respect to these laws and regulations

could result in significant administrative, civil, or criminal penalties, remedial clean-ups, natural resource damages, permit modifications

and/or revocations, operational interruptions and/or shutdowns, and other liabilities, as well as reputational harm, including damage

to our relationships with customers, suppliers, investors, governments or other stakeholders.

The costs of remedying such conditions may

be significant, and remediation obligations could adversely affect our business, results of operations, and financial condition.

state, and local legislative bodies and agencies frequently revise environmental laws and regulations, and any changes in these regulations,

or the interpretations thereof, could require us to expend significant resources to comply with new laws or regulations or changes to

current requirements and could have a material adverse effect on our business operations.

As of the date of this Annual Report, we have

not been required to spend material amounts on compliance regarding environmental regulations.

Obtaining and renewing

governmental permits is a complex and time-consuming process and involves numerous jurisdictions, public hearings, and possibly costly

undertakings.

The timeliness and success of permitting efforts are contingent upon many variables not within our control, including the

interpretation of permit approval requirements administered by the applicable permitting authority.

We may not be able to obtain or renew

permits that are necessary for our planned operations, or the cost and time required to obtain or renew such permits may exceed our expectations.

Any unexpected delays or costs associated with the permitting process could delay the exploration, development and/or operation of our

Environmental,

Social and Governance

We are committed to

As we start to hire employees for our projects, our hiring efforts will focus on hiring workers from communities near

our project areas.

Many such communities have high levels of unemployment.

Legal Proceedings

We are not a party to

any material legal proceedings.

Human Capital

As of April 13, 2023,

the Company had one full-time employee and a part time employee.

We are committed to diversity, equity, and inclusion as part of

our growth strategy.

We will treat each employee and job applicant without regard to race, color, age, sex, religion, national origin,

citizenship, sexual orientation, gender identity, ancestry, veteran status, or any other category protected by law.

We believe in allocating

resources and establishing, in an equitable manner, policies and procedures that are fair, impartial, and just.

To provide a diverse and

inclusive workplace, we will focus our efforts on creating a culture where all employees can contribute their skills and talents and be

The Company maintains

one active website, www.americanbatterymaterials.com, which serves as its corporate website and contains information about the Company

and its business.

Corporate Information

We are a Delaware corporation.

Our corporate office is located at 500 West Putnam Avenue, Suite 400, Greenwich, Connecticut, 06830.

Our telephone number is (800) 998-7962.

Information contained on our website is not a part of this Annual Report.

Available Information

Under the Securities Exchange Act of 1934, as

amended (the “Exchange Act”), the Company files annual, quarterly and current reports with the SEC.

You may read and copy

any document we file with the SEC at the SEC’s public reference room at 100 F Street, N.E., Washington, D.C.

the SEC at 1-800-SEC-0330 for further information about the public reference room.

The SEC maintains a website at http://www.sec.gov that

contains reports and other information regarding issuers that file electronically with the SEC.

The Company files electronically with

The SEC makes available, free of charge, through the SEC Internet website, the Company’s filings on Forms 10-K, 10-Q and

8-K, and amendments to those reports, as soon as they are filed with the SEC.

Under the Securities

Exchange Act of 1934, as amended from time-to-time (the “ Exchange Act ”), the Company files annual, quarterly and current

reports with the SEC.

You may read and copy any document we file with the SEC at the SEC’s public reference room at 100 F Street,

N.E., Washington, D.C.

Please call the SEC at 1-800-SEC-0330 for further information about the public reference room.

The SEC maintains

a website at http://www.sec.gov that contains reports and other information regarding issuers that file electronically with the SEC.

Company files electronically with the SEC.

The SEC makes available, free of charge, through the SEC Internet website, the Company’s

filings on Forms 10-K, 10-Q and 8-K, and amendments to those reports, as soon as they are filed with the SEC.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business