−Removed: Market For Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases Of Equity Securities.
−Removed: common stock is listed for quotation on the OTC Pink Market under the trading symbol “BUUZ”.
−Removed: Trading in our common
−Removed: stock in the over-the-counter market has been limited and the quotations set forth below are not necessarily indicative of actual
−Removed: market values.
−Removed: The following table sets forth, for the periods indicated, the high and low closing prices for each quarter within
−Removed: the last two fiscal years ended December 31, 2020 as reported by the quotation service operated by the OTC Markets Group.
−Removed: quotations for the OTC Pink Market reflect inter-dealer prices, without retail mark-up, mark-down or commission and may not necessarily
−Removed: represent actual transactions.
−Removed: Quarter Ended
−Removed: December 31, 2020
−Removed: September 30, 2020
−Removed: June 30, 2020
−Removed: March 31 2020
−Removed: December 31, 2019
−Removed: September 30, 2019
−Removed: June 30, 2019
−Removed: March 31 2018
−Removed: May 31, 2021, the closing price for our common stock on the OTC Pink Market as reported by the quotation service operated by the
−Removed: OTC Markets Group was $1.00.
+Added: For Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases Of
+Added: Equity Securities.
+Added: common stock is listed for quotation on the OTC Pink Market under the trading symbol “BUUZ.” We have applied to FINRA to
+Added: change our trading symbol to “AIQB”.
+Added: Trading in our common stock in the over-the-counter market has been limited and the
+Added: quotations set forth below are not necessarily indicative of actual market values.
+Added: The following table sets forth, for the periods indicated,
+Added: the high and low closing prices for each quarter within the last two fiscal years ended December 31, 2021 as reported by the quotation
+Added: service operated by the OTC Markets Group.
+Added: All quotations for the OTC Pink Market reflect inter-dealer prices, without retail mark-up,
+Added: mark-down or commission and may not necessarily represent actual transactions.
+Added: March 15, 2022, the closing price for our common stock on the OTC Pink Market as reported by the quotation service operated by the OTC
+Added: Markets Group was $1.96.
Agency and Transfer Company is the registrar and transfer agent for our common shares.
−Removed: Their address is 50 West Liberty, Suite
−Removed: 880 Reno, Nevada, 89501 Telephone:
+Added: Their address is 50 West Liberty, Suite 880 Reno,
+Added: Nevada, 89501 Telephone:
775-322-0626, Facsimile:
1 unchanged sentence
of Our Common Stock
−Removed: of May 31, 2021, there were 52 registered holders of record of our common stock.
−Removed: As of such date, 12,960,621
−Removed: shares of common stock were issued and outstanding.
−Removed: The number of our shareholders of record excludes any estimate by us of
−Removed: the number of beneficial owners of shares held in street name, the accuracy of which cannot be guaranteed.
+Added: of March 15, 2022, there were 55 registered holders of record of our common stock.
+Added: As of such date, 25,995,621 shares of common stock
+Added: were issued and outstanding.
+Added: The number of our shareholders of record excludes any estimate by us of the number of beneficial owners
+Added: of shares held in street name, the accuracy of which cannot be guaranteed.
have not declared or paid any cash dividends since inception.
−Removed: Although there are no restrictions that limit our ability to pay
−Removed: dividends on our common shares, we do not intend to pay dividends for the foreseeable future.
−Removed: Compensation Plan Information
−Removed: currently do not have an equity compensation plan in place.
−Removed: Selected Financial Data.
−Removed: are a “smaller reporting company”
−Removed: as defined by Regulation S-K and as such, are not required to provide the information
−Removed: contained in this item pursuant to Regulation S-K.
−Removed: Management’s Discussion and Analysis of Financial Condition and Results of Operation.
−Removed: following discussion should be read in conjunction with our audited financial statements and the related notes that appear elsewhere
−Removed: in this Annual report.
−Removed: The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs.
−Removed: Our actual results could differ materially from those discussed in the forward looking statements.
−Removed: Factors that could cause or
−Removed: contribute to such differences include those discussed below and elsewhere in this Annual Report.
−Removed: audited financial statements are stated in United States dollars and are prepared in accordance with United States generally accepted
−Removed: accounting principles.
−Removed: of Operations
−Removed: Following the Change of Control
−Removed: Transactions, as described above, our board of directors determined to establish our company in the rapidly-growing legal California
−Removed: cannabis industry and as of December 31, 2020, in the high-performance computer industry focused on developing hardware solutions
−Removed: for cryptocurrency, tokens and blockchain-based transaction processing systems.
−Removed: As of the filing of this Report, our management is
−Removed: in the process of refining and finalizing the course of action needed to implement our proposed new business operations.
−Removed: management has not determined our actual short-term or long-term cash requirements, which management expects to be substantial.
−Removed: will require substantial financing to commence meaningful business operations and to achieve our goals, and a failure to obtain
−Removed: this necessary capital when needed on acceptable terms, or at all, could force us to delay, limit, reduce or terminate our product
−Removed: development plans, any commercialization efforts or other operations.
−Removed: We may not be able to secure financing on favorable terms,
−Removed: or at all, to meet our future capital needs.
−Removed: In addition, even if we are able to obtain sufficient funding to commence our business
−Removed: operations, we may need to pursue additional financing in the future to make expenditures and/or investments to support the growth
−Removed: of our business and may require additional capital to pursue our business objectives and respond to new competitive pressures,
−Removed: pay extraordinary expenses or fund our growth, including through acquisitions.
−Removed: Additional funds, however, may not be available
−Removed: when we need them on terms that are acceptable to us, or at all.
−Removed: If we are unable to obtain adequate financing or financing on
−Removed: terms satisfactory to us when we require it, our ability to commence our proposed business operations, to continue to grow and
−Removed: support our business and to respond to business challenges could be significantly limited.
−Removed: the course of 2019 and the first three quarters of 2020, our Chief Executive Officer, Michael Campbell, and our former President,
−Removed: Piers Cooper, developed a plan to build a chain of large-format retail stores and event centers facilities to serve the needs
−Removed: of the rapidly-growing Southern California cannabis market.
−Removed: During such period, we entered into various agreements to purchase
−Removed: or lease facilities for our initial retail store and event center, which would have required us to raise substantial capital to
−Removed: acquire the necessary governmental licenses and permits, buildout, furnish and equip our initial retail store and event center
−Removed: and for working capital.
−Removed: Due primarily to a downturn in the equity markets for cannabis-related companies and the effects and
−Removed: impact of the COVID-19 pandemic, we were unable to raise the capital during that period necessary to build that business.
−Removed: result, management determined to seek other business opportunities for our company.
−Removed: is the current intention of the board of directors for our company to develop and manufacture a next generation high-performance computer
−Removed: system that is scalable, upgradeable, and cost effective for processing cryptocurrencies, tokens and blockchain-based transactions.
−Removed: of Operations for the years ended December 31, 2020 and 2019
−Removed: following summary should be read in conjunction with our audited financial statements for the years ended December 31, 2020 and
−Removed: For the years ended December 31,
−Removed: Operating Expenses
−Removed: Professional fees
−Removed: General and administrative
−Removed: Total Expenses
−Removed: Financing costs
−Removed: Loss on extinguishment of series A convertible preferred stock
−Removed: $ (1,499,000 )
−Removed: the years ended December 31, 2020 and 2019, we had no revenues.
−Removed: operating expenses decreased from $1,194,000 in year ended December 31, 2019 to $391,000 in the year ended
−Removed: December 31, 2020, which represented a decrease of $803,000.
−Removed: The decrease was attributable to the (1) lower
−Removed: consultant fees since there are no warrants granted during the year for the services rendered by the consultants compared to the prior
−Removed: year which approximates to $577,000, (2) the use of legal services for approximately $42,000, (3) accounting and auditing
−Removed: fees for approximately $80,000, and (3) general and administrative expenses for approximately $51,000.
−Removed: financing cost of approximately $227,000 is attributable to the amortization of the relative fair value of warrants, original
−Removed: issue discount, the value ascribed to the beneficial conversion all of which related to the issuance of convertible debentures
−Removed: and interest on default convertible notes.
−Removed: on extinguishment of series A convertible preferred stock
−Removed: loss on extinguishment of series A convertible preferred stock of approximately $138,000 is attributable to the difference between the
−Removed: fair value of the issued Notes as an extinguishment and book basis of the series A preferred stock, and the fair value of the warrants
−Removed: and Capital Resources
−Removed: financial position as of December 31:
−Removed: For the years ended December 31,
−Removed: Current Assets
−Removed: Current Liabilities
−Removed: Working (Deficit) Capital
−Removed: $ (1,323,000 )
−Removed: capital decreased from a $561,000 deficit as of December 31, 2019 to a deficit of $1,323,000 as of December 31,
−Removed: 2020 for a total change of $(762,000).
−Removed: The change was a result of our increase in accruals for services rendered by consultants
−Removed: and legal counsel during the year ended December 31, 2020.
−Removed: Also, the issuance of convertible debentures with a face value
−Removed: of $213,000, which included an original issue discount of $6,000 and $147,000 from conversion of series A preferred stock,
−Removed: for net proceeds of $60,000.
−Removed: The net proceeds were allocated between the relative fair value of $3,000 for the associated
−Removed: warrants issued and $0 associated with the beneficial conversion feature of the convertible debentures.
−Removed: the years ended December 31,
−Removed: Net cash used by operating activities
−Removed: Net cash provided by investing activities
−Removed: Net cash provided by
−Removed: financing activities
−Removed: Change in cash during the period
−Removed: Cash, beginning of period
−Removed: Cash, end of period
−Removed: used in operating activities decreased by approximately $235,000, which predominantly related to lower legal and consultant
−Removed: fees incurred during the year.
−Removed: Operating activities used $418,000 in cash for the year ended December 31, 2019 for
−Removed: operating expenses.
−Removed: provided by financing activities related to the approximately $60,000 from the sale of our convertible promissory notes.
−Removed: audited financial statements included in this Report have been prepared on a going concern basis, which implies that our company
−Removed: will continue to realize its assets and discharge its liabilities and commitments in the normal course of business.
−Removed: We are a “shell
−Removed: company”
−Removed: with no meaningful assets or operations presently.
−Removed: Our company has
−Removed: not generated revenues in the last two fiscal years, has never paid any dividends and is unlikely to pay dividends or generate
−Removed: earnings in the immediate or foreseeable future.
−Removed: The continuation of our company as a going concern is dependent upon:
−Removed: (i) continued
−Removed: financial support from our shareholders;
−Removed: (ii) the ability of our company to continue raising necessary debt or equity financing
−Removed: to achieve its operating objectives;
−Removed: and (iii) our ability to acquire assets and establish a business or merge or otherwise acquire
−Removed: business opportunities.
−Removed: independent auditors included an explanatory paragraph in their report on our financial statements for the year ended December 31, 2020
−Removed: regarding concerns about our ability to continue as a going concern.
−Removed: In addition, our financial statements contain further note disclosures
−Removed: in this regard.
−Removed: The implementation of our business plan is dependent upon our ability to continue raising sufficient new capital from
−Removed: equity or debt markets in order to fund our on-going operating losses and real estate acquisition activities.
−Removed: The issuance of additional
−Removed: equity securities could result in a significant dilution in the equity interests of our current stockholders.
−Removed: of Critical Accounting Policies
−Removed: preparation of financial statements in conformity with United States generally accepted accounting principles requires management
−Removed: to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying disclosures of
−Removed: Although these estimates are based on management’s knowledge of current events and actions that our company
−Removed: may undertake in the future, actual results may differ from such estimates.
−Removed: of Presentation
−Removed: financial statements and related notes included in this Annual Report are presented in accordance with United States generally
−Removed: accepted accounting principles (“US GAAP”) and are expressed in US dollars.
−Removed: of Estimates and Assumptions
−Removed: preparation of financial statements in conformity with US GAAP requires our management to make estimates and assumptions that
−Removed: affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial
−Removed: statements and the reported amounts of revenue and expenses during the reporting period.
−Removed: We base our estimates and assumptions
−Removed: on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the
−Removed: results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs
−Removed: and expenses that are readily apparent from other sources.
−Removed: The actual results experienced by our company may differ materially
−Removed: from our management’s estimates.
−Removed: To the extent there are material differences, future results may be affected.
−Removed: used in preparing these financial statements include the fair value of share-based payments, deferred income taxes, financial
−Removed: instruments and assumptions relating to going concern.
−Removed: use the asset and liability method of accounting for income taxes.
−Removed: Under this method, deferred tax assets and liabilities are
−Removed: determined based on temporary differences between the financial statements and the tax basis of assets and liabilities, and net
−Removed: operating loss carry forwards based on using enacted tax rates in effect for the year in which the differences are expected to
−Removed: The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the year that includes
−Removed: the enactment date.
−Removed: Deferred tax assets are only recognized to the extent that it is considered more likely than not that the
−Removed: assets will be realized.
−Removed: (Loss) Per Share
−Removed: earnings (loss) per share is computed by dividing the net loss by the weighted average number of outstanding common shares during
−Removed: Diluted loss per share gives effect to all potentially dilutive common shares outstanding during the year, including
−Removed: convertible debt, stock options and share purchase warrants, using the treasury stock method.
−Removed: The computation of diluted loss
−Removed: per share does not assume conversion, exercise or contingent exercise of securities that would have an anti-dilutive effect on
−Removed: loss per share.
−Removed: Accounting Pronouncements
−Removed: do not believe that any recently issued, but not yet effective accounting standards if currently adopted, will have a material
−Removed: effect on our financial statements.
−Removed: Sheet Arrangements
−Removed: have no significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our
−Removed: financial condition, changes in financial position, revenues and expenses, results of operations, liquidity, capital expenditures
−Removed: or capital resources that are material to stockholders.
−Removed: Quantitative and Qualitative Disclosures About Market Risk.
−Removed: a “smaller reporting company”
−Removed: as defined by Item 10 of Regulation S-K, we are not required to provide this information.
−Removed: Financial Statements and Supplementary Data.
−Removed: financial statements and notes thereto and the reports of RBSM LLP, our independent registered public accounting firm, are set forth
−Removed: on pages F-1 through F -18 of this Report.
−Removed: Changes In and Disagreements With Accountants On Accounting and Financial Disclosure.
+Added: Although there are no restrictions that limit our ability to pay dividends
+Added: on our common shares, we do not intend to pay dividends for the foreseeable future.
+Added: Financial Data.
+Added: are a “smaller reporting company” as defined by Regulation S-K and as such, are not required to provide the information contained
+Added: in this item pursuant to Regulation S-K.
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.