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Item 1. Financial Statements

2025-12-29 compared with 2025-12-29 · 164 added, 186 removed, 924 unchanged (27% of the section changed)

1 unchanged sentence

TECHNOLOGIES INC.

CONSOLIDATED INTERIM BALANCE SHEETS AT JUNE 30, 2025 (Unaudited)

AND DECEMBER 31, 2024 (Audited)

CONDENSED CONSOLIDATED INTERIM BALANCE SHEETS AT MARCH 31, 2025 (Unaudited) AND DECEMBER 31, 2024 (Audited)

expressed in United States Dollars (“US$ or $”), except for number of shares)

10 unchanged sentences

on senior secured notes (Note 7)

secured notes (Note 7)

Senior secured notes

Total liabilities

2 unchanged sentences

– Series A, 50,000,000 shares authorized, $ 0.001 par value per share, stated value $ 100 per share, 100,000 shares designated,

No shares issued and outstanding, June 30, 2025 and December 31, 2024, respectively (Note 9)

No shares issued and outstanding, March 31, 2025 and December 31, 2024, respectively (Note 9)

Stock - Series C, $ 0.001 par value;

stated value $ 100 per share, 10,000 shares designated, No issued and outstanding, June

30, 2025 and December 31, 2024, respectively (Note 9)

stated value $ 100 per share, 10,000 shares designated, No issued and outstanding, March 31, 2025 and December

31, 2024, respectively (Note 9)

Total Mezzanine

STOCKHOLDERS’

Preferred Stock - Series B, $ 0.001

shares designated, 100 shares issued and outstanding, June

30, 2025 and December 31, 2024, respectively (Note 9)

Preferred Stock - Series B, $ 0.001 par value;

100 shares designated, 100 shares issued and outstanding, March 31, 2025 and December 31, 2024, respectively (Note 9)

Preferred Stock - Series D, $ 0.001 par value;

convertible, stated value $ 3.32 per share, 230,000 shares designated, 155,000 shares issued and outstanding, June 30, 2025

and December 31, 2024, respectively (Note 9)

convertible, stated value $ 3.32 per share, 230,000 shares designated, 155,000 shares issued and outstanding, March 31, 2025 and December 31,

2024, respectively (Note 9)

Preferred Stock- Series E, $ 0.001 par value;

convertible, stated value $ 1,000 per share, 1,000 shares designated, 0 Nil issued and outstanding, June 30, 2025 and December

convertible, stated value $ 1,000 per share, 1,000 shares designated, 0 Nil issued and outstanding, March 31, 2025 and December 31, 2024,

respectively;

Preferred Stock - Series E-1, $ 0.001 par value;

convertible, stated value $ 0.87 per share, 1,152,500 shares designated, 1,152,500 shares issued and outstanding, June 30,

2025 and December 31, 2024, respectively (Note 9)

convertible, stated value $ 0.87 per share, 1,152,500 shares designated, 1,152,500 shares issued and outstanding, March 31, 2025 and December

31, 2024, respectively (Note 9)

Preferred Stock - Series F, $ 0.001

1 unchanged sentence

per share, 1,000

shares designated, 0 Nil issued and outstanding, December

31, 2024 and 2023, respectively (Note 9)

Preferred Stock - Series G, $ 0.001

convertible, stated value $ 1,000

per share, 4,600

shares designated, 0 Nil issued and outstanding, June 30, 2025 and December 31, 2024, respectively (Note 9);

shares designated, 0 Nil issued and outstanding, December 31, 2024 and 2023, respectively (Note 9)

Preferred Stock - Series G, $ 0.001 par value;

convertible, stated value $ 1,000 per share, 4,600 shares designated, 0 Nil issued and outstanding, March 31, 2025 and December 31, 2024,

respectively (Note 9);

Preferred Stock – Series H, $ 0.001 par

convertible, stated value $ 1 per share, 39,895 shares designated, 39,895 issued and outstanding, June 30, 2025 and

December 31, 2024, respectively (Note 9)

convertible, stated value $ 1 per share, 39,895 shares designated, 39,895 issued and outstanding, March 31, 2025 and December 31, 2024, respectively (Note 9)

Common Stock - $ 0.001 par value;

6,000,000,000

shares authorized, 1,603,095,243 shares issued and outstanding, June 30, 2025 and December 31, 2024, respectively (Note 9)

shares authorized, 1,603,095,243 shares issued and outstanding, March 31, 2025 and December 31, 2024, respectively (Note 9)

Additional Paid

4 unchanged sentences

TECHNOLOGIES INC.

CONSOLIDATED INTERIM STATEMENTS OF OPERATIONS FOR THE THREE AND

SIX MONTHS ENDED JUNE 30, 2025 AND 2024 (Unaudited)

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF OPERATIONS FOR THE THREE MONTHS ENDED MARCH 31, 2025 AND 2024 (Unaudited)

expressed in United States Dollars (“US$ or $”), except for number of shares)

the Three Months

Operating Expenses

and administrative

Professional fees

Total operating expenses

Total operating

Loss before other expense

Other income (expenses)

Amortized expense (Notes 5,

Other expense

Amortized expense

(Notes 5, 6 and 7)

Interest expense (Notes

3 unchanged sentences

Loss per share, basic and diluted

Weighted average basic and diluted shares outstanding

1,603,095,243

Weighted average

basic and diluted shares outstanding

1,603,095,243

2 unchanged sentences

TECHNOLOGIES INC.

CONSOLIDATED INTERIM STATEMENTS OF MEZZANINE EQUITY AND

STOCKHOLDERS’ DEFICIENCY FOR THE THREE AND SIX ENDED JUNE 30, 2025 AND

the Three and Six Months Ended June 30, 2025 and 2024

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF MEZZANINE EQUITY AND STOCKHOLDERS' DEFICIENCY FOR THE THREE ENDED MARCH 31, 2025 AND 2024 (Unaudited)

the Three Months Ended March 31, 2025 and 2024

expressed in United States Dollars (“US$ or $”), except for number of shares)

3 unchanged sentences

Net loss for the

Balance, June

1,603,095,243

Balance, April 1, 2025

1,603,095,243

Net loss for the

Balance, June

Balance, March

1,603,095,243

2 unchanged sentences

Net loss for the

Balance, June

1,603,095,243

Balance, April

1,603,095,243

Balance, June

Balance, March

1,603,095,243

1 unchanged sentence

TECHNOLOGIES INC.

CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS FOR THE

SIX MONTHS ENDED JUNE 30, 2025 AND 2024 (Unaudited)

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2025 AND 2024 (Unaudited)

expressed in United States Dollars (“US$ or $”), except for number of shares)

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of the period

Cash, end of the

Cash, end of the period

SUPPLEMENTAL DISCLOSURE

2 unchanged sentences

TECHNOLOGIES, INC.

TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

31, 2025 (Unaudited)

4 unchanged sentences

2 Going Concern

accompanying unaudited condensed consolidated interim financial statements have been prepared assuming we will continue as a going

concern, which contemplates the recoverability of assets and the satisfaction of liabilities in the normal course of business.

For the period ended June 30, 2025, we generated no revenues from operations, incurred a net loss of $ 1,427,959 (June 30, 2024 -

$ 1,504,104 ) and had a working capital deficit of $ 21,814,254 (December 31, 2024 - $ 20,386,294 ) and an accumulated deficit of $ 33,086,086 (December 31, 2024 - $ 31,658,127 ).

management’s opinion that these matters raise substantial doubt about our ability to continue as a going concern for a period

of twelve months from the issuance date of these unaudited condensed consolidated interim financial statements.

Our ability to

continue as a going concern is dependent upon management’s ability to raise additional capital as needed from the sales

of stock or debt and further implement our business plan.

However, the Company may not be able to secure such financing in a timely

manner or on favourable terms, if at all.

Furthermore, if the Company issues equity securities to raise additional funds, its

existing stockholders may experience dilution, and the new equity securities may have rights, preferences and privileges senior

to those of the Company’s existing stockholders.

The accompanying unaudited condensed consolidated interim financial statements

do not include any adjustments that might be required should we be unable to continue as a going concern.

accompanying unaudited condensed consolidated interim financial statements have been prepared assuming we will continue as a going concern, which contemplates

the recoverability of assets and the satisfaction of liabilities in the normal course of business.

For the period ended March 31, 2025, we generated no revenues from operations, incurred a net loss of $ 709,477 (March 31, 2024 - $ 830,912 ) and had a working capital deficit of $ 21,095,771 (December 31, 2024 - $ 20,386,294 ) and an accumulated deficit of $ 32,367,604 (December 31, 2024 - $ 31,658,127 ).

It is management’s opinion that these matters raise

substantial doubt about our ability to continue as a going concern for a period of twelve months from the issuance date of these

unaudited condensed consolidated interim financial statements.

Our ability to continue as a going concern is dependent upon management’s ability to

raise additional capital as needed from the sales of stock or debt and further implement our business plan.

However, the Company

may not be able to secure such financing in a timely manner or on favourable terms, if at all.

Furthermore, if the Company issues

equity securities to raise additional funds, its existing stockholders may experience dilution, and the new equity securities

may have rights, preferences and privileges senior to those of the Company’s existing stockholders.

The accompanying unaudited condensed consolidated interim financial statements do not include any adjustments that might be required should we be unable to continue as a going concern.

3 Summary of Significant Accounting Policies

of Presentation

accompanying unaudited condensed consolidated interim financial statements have been prepared in accordance with accounting principles

generally accepted in the United States (“US GAAP”) for interim financial information and the Securities and Exchange

Commission (“SEC”) instructions to Form 10-Q and Article 8 of SEC Regulation S-X.

Accordingly, they do not include

all of the information and footnotes required by generally accepted accounting principles for complete consolidated financial

statements and should be read in conjunction with the Company’s audited consolidated financial statements for the years

ended December 31, 2024 and 2023 and their accompanying notes.

accompanying unaudited condensed consolidated interim financial statements are expressed in United States dollars (“USD”).

In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation

of financial position and results of operations for the interim periods presented have been reflected herein.

Operating results

for the interim periods presented herein are not necessarily indicative of the results that may be expected for the year ending

December 31, 2025.

The Company’s fiscal year-end is December 31.

The unaudited condensed consolidated

interim financial statements include the accounts of the Company and its wholly owned subsidiary.

Significant intercompany accounts

and transactions have been eliminated.

The accompanying unaudited condensed consolidated

interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States

(“US GAAP”) for interim financial information and the Securities and Exchange Commission (“SEC”) instructions

to Form 10-Q and Article 8 of SEC Regulation S-X.

Accordingly, they do not include all of the information and footnotes required

by generally accepted accounting principles for complete consolidated financial statements and should be read in conjunction with

the Company’s audited consolidated financial statements for the years ended December 31, 2024 and 2023 and their accompanying

The accompanying unaudited condensed consolidated

interim financial statements are expressed in United States dollars (“USD”).

In the opinion of management, all adjustments

(consisting of normal recurring accruals) considered necessary for a fair presentation of financial position and results of operations

for the interim periods presented have been reflected herein.

Operating results for the interim periods presented herein are not

necessarily indicative of the results that may be expected for the year ending December 31, 2025.

The Company’s fiscal year-end

is December 31.

The unaudited condensed consolidated interim

financial statements include the accounts of the Company and its wholly owned subsidiary.

Significant intercompany accounts and

transactions have been eliminated.

accounting estimates and assumptions

preparation of the unaudited condensed consolidated interim financial statements requires the use of estimates and assumptions

to be made in applying the accounting policies that affect the reported amounts of assets, liabilities, revenue and expenses and

the disclosure of contingent assets and liabilities.

The estimates and related assumptions are based on previous experiences and

other factors considered reasonable under the circumstances, the results of which form the basis for making the assumptions about

the carrying values of assets and liabilities that are not readily apparent from other sources.

preparation of the unaudited condensed consolidated interim financial statements requires the use of estimates and assumptions to be made in applying the

accounting policies that affect the reported amounts of assets, liabilities, revenue and expenses and the disclosure of contingent

assets and liabilities.

The estimates and related assumptions are based on previous experiences and other factors considered reasonable

under the circumstances, the results of which form the basis for making the assumptions about the carrying values of assets and

liabilities that are not readily apparent from other sources.

estimates and underlying assumptions are reviewed on an ongoing basis.

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Consolidation

accompanying unaudited condensed consolidated interim financial statements include the accounts of our wholly owned subsidiary,

Blockchain.tv, Inc., which is dormant has not had operations since its inception.

The functional and reporting currency of the

Company and its subsidiaries are U.S.

accompanying unaudited condensed consolidated interim financial statements include the accounts of our wholly owned subsidiary, Blockchain.tv,

Inc., which is dormant has not had operations since its inception.

The functional and reporting currency of the Company and its

subsidiaries are U.S.

segments are defined as components of an entity where discrete financial information is evaluated regularly by the chief operating

51 unchanged sentences

loss per share of common stock is computed by dividing net loss $ 709,477 [2024 - $ 830,912 ] from continuing operation by the weighted

average number of shares of common stock 1,603,095,243 [2024 - 1,603,095,243 ], outstanding during the respective six-month periods.

average number of shares of common stock 1,603,095,243 [2024 - $ 1,603,095,243 ], outstanding during the period.

loss per share of common stock is computed similarly to basic loss per share from continuing operations except the weighted average

56 unchanged sentences

Issued Accounting Pronouncements

guidance recently adopted

In November 2023, the Financial Accounting

Standards Board (“FASB”) issued ASU 2023-07, Segment Reporting (Topic 280):

Improvements to Reportable Segment Disclosures

(“ASU 2023-07”) to improve the disclosures regarding a public entity’s reportable segments and address requests

from investors for additional, more detailed information about a reportable segment’s expenses.

The Company is required to

adopt the guidance in the fourth quarter of fiscal 2025, though early adoption is permitted.

The Company adopted quarterly requirements

of this guidance beginning in the first quarter of 2025 and the adoption has no material impact on the unaudited condensed interim consolidated financial

Accounting guidance recently adopted

November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-07, Segment Reporting (Topic

Improvements to Reportable Segment Disclosures (“ASU 2023-07”) to improve the disclosures regarding a

public entity’s reportable segments and address requests from investors for additional, more detailed information about

a reportable segment’s expenses.

The Company is required to adopt the guidance in the fourth quarter of fiscal 2025,

though early adoption is permitted.

The Company adopted quarterly requirements of this guidance beginning in the first

quarter of 2025 and the adoption has no material impact on the unaudited condensed interim consolidated financial

accounting guidance not yet adopted

6 unchanged sentences

impact of this amendment on its consolidated financial statements.

In January 2025, the FASB issued a clarification by ASU 2025-01 Income Statement - Expense Disaggregation Disclosures (Topic 220):

A new guidance related

to expense disaggregation disclosures.

This guidance requires additional disclosure of certain amounts included in the expense

captions presented in the Statement of Income as well as disclosures about selling expenses.

The new guidance will be effective

for us beginning in 2027 on an annual basis and in the first quarter of 2028 on a quarterly basis and may be applied on either

a prospective or retrospective basis.

In January 2025, the FASB issued

a clarification by ASU 2025-01 Income Statement - Expense Disaggregation Disclosures (Topic 220):

A new guidance related to expense

disaggregation disclosures.

This guidance requires additional disclosure of certain amounts included in the expense captions presented

in the Statement of Income as well as disclosures about selling expenses.

The new guidance will be effective for us beginning in

2027 on an annual basis and in the first quarter of 2028 on a quarterly basis and may be applied on either a prospective or retrospective

Early adoption of the guidance is permitted.

The Company is currently evaluating the effect

this new guidance will have on our disclosures.

The Company is currently evaluating the effect this new guidance will have

on our disclosures.

Company continues to evaluate the impact of the new accounting pronouncement, including enhanced disclosure requirements, on our

1 unchanged sentence

4 Accounts Payable and Accrued Liabilities

payable and accrued liabilities as of June 30, 2025 and December 31, 2024 are summarized below:

payable and accrued liabilities as of March 31, 2025 and December 31, 2024 are summarized below:

of Accounts Payable and Accrued Liabilities

39 unchanged sentences

the promissory note using the effective interest method.

the three months ended June 30, 2025 and 2024, the Company recorded interest expense of $ 33,658 and $ 33,658 , respectively, in

the condensed consolidated interim statements of operations.

As of June 30, 2025 and December 31, 2024, $ 500,000 in principal

was outstanding.

the three months ended March 31, 2025 and 2024, the Company recorded interest expense of $ 33,288 and $ 33,658 , respectively, in the

condensed consolidated interim statements of operations.

As of March 31, 2025 and December 31, 2024, $ 500,000 in principal was outstanding.

notes issued during year ended December 31, 2022

8 unchanged sentences

fee payable of $ 15,000 was amortized to consolidated statements of operation over the term of the promissory note.

the three months ended June 30, 2025 and 2024, the Company recorded interest expense of $ 10,283 and $ 10,283 , respectively, in

the condensed consolidated interim statements of operations.

of June 30, 2025 and December 31, 2024, $ 165,000 in principal was outstanding.

the three months ended March 31, 2025 and 2024, the Company recorded interest expense of $ 10,171 and $ 10,283 , respectively, in the

condensed consolidated interim statements of operations.

of March 31, 2025 and December 31, 2024, $ 165,000 in principal was outstanding.

On January 14, 2022,

8 unchanged sentences

fee payable of $ 15,000 was amortized to consolidated statements of operations over the term of the promissory note.

the three months ended June 30, 2025 and 2024, the Company recorded interest expense of $ 9,349 and $ 9,349 , respectively, in the

the three months ended March 31, 2025 and 2024, the Company recorded interest expense of $ 9,247 and $ 9,350 , respectively, in the

condensed consolidated interim statements of operations.

of June 30, 2025 and December 31, 2024, $ 150,000 in principal was outstanding.

of March 31, 2025 and December 31, 2024, $ 150,000 in principal was outstanding.

On April 27, 2022,

10 unchanged sentences

of the note was amortized to consolidated statements of operations over the term of the promissory note using the effective interest

the three months ended June 30, 2025 and 2024, the Company recorded interest expense of $ 6,233 and $ 6,233 , respectively, in the

the three months ended March 31, 2025 and 2024, the Company recorded interest expense of $ 6,164 and $ 6,232 , respectively, in the

condensed consolidated interim statements of operations.

As of June 30, 2025 and December 31, 2024, $ 125,000 in principal was

As of March 31, 2025 and December 31, 2024, $ 125,000 in principal was outstanding.

notes issued during year ended December 31, 2023

5 unchanged sentences

Upon the occurrence of an event of default, the promissory note accrued default interest at an annual rate of 22 %.

the three months ended June 30, 2025 and 2024, the Company recorded interest expense of $ 6,771 and $ 6,771 , respectively, in the

the three months ended March 31, 2025 and 2024, the Company recorded interest expense of $ 6,697 and $ 6,771 , respectively, in the

condensed consolidated interim statements of operations.

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as market data becomes available.

convertible notes payable, all of which are liabilities as of June 30, 2025 and December 31, 2024, are as follows:

convertible notes payable, all of which are liabilities as of March 31, 2025 and December 31, 2024, are as follows:

Principal outstanding

7 unchanged sentences

Those convertible notes matured on December 31, 2022.

the three months ended June 30, 2025 and 2024, the Company recorded interest expense of $ 42,634 and $ 42,634 respectively, in the

the three months ended March 31, 2025 and 2024, the Company recorded interest expense of $ 42,166 and $ 42,636 respectively, in the

condensed consolidated interim statements of operations.

6 unchanged sentences

The convertible note matured on December 31, 2022.

the three months ended June 30, 2025 and 2024, the Company recorded interest expense of $ 4,487 and $ 4,487 respectively, in the

the three months ended March 31, 2025 and 2024, the Company recorded interest expense of $ 4,439 and $ 4,488 respectively, in the

condensed consolidated interim statements of operations.

14 unchanged sentences

the effective interest method.

the three months ended June 30, 2025 and 2024, the Company recorded interest expense of $ 16,829 and $ 16,829 respectively, in the

the three months ended March 31, 2025 and 2024, the Company recorded interest expense of $ 16,644 and $ 16,829 respectively, in the

condensed consolidated interim statements of operations.

14 unchanged sentences

were amortized to consolidated statements of operations over the term of the convertible note using the effective interest method.

the three months ended June 30, 2025 and 2024, the Company recorded interest expense of $ 9,324 and $ 9,324 , respectively, in the

condensed consolidated interim statements of operations.

January 10, 2023, the Company issued a convertible note with a principal amount and cash proceeds of $ 110,000 .

For the three months ended March 31, 2025

and 2024, the Company recognized amortization expense of $ Nil and $ 11,538 , respectively, in the condensed consolidated interim statements of operations.

For the three months ended March 31, 2025

and 2024, the Company recorded interest expense of $ 9,221 and $ 8,661 , respectively, in the condensed consolidated interim statements of operations.

On January 10, 2023, the Company issued

a convertible note with a principal amount and cash proceeds of $ 110,000 .

The convertible note accrued interest at an annual rate

Upon the occurrence of an event of default, the note accrued default interest at an annual rate of 22 %.

The convertible

note accrued interest at an annual rate of 12 %.

Upon the occurrence of an event of default, the note accrued default interest

at an annual rate of 22 %.

The convertible note matured on January 10, 2024.

note matured on January 10, 2024.

The note is in default.

the three months ended June 30, 2025 and 2024, the Company recorded interest expense of $ 11,220 and $ 9,324 , respectively, in the

condensed consolidated interim statements of operations.

For the three months ended March 31, 2025

and 2024, the Company recorded interest expense of $ 9,221 and $ 8,661 , respectively, in the condensed consolidated interim statements of operations.

notes issued during year ended December 31, 2022

13 unchanged sentences

were amortized to consolidated statements of operations over the term of the convertible note using the effective interest method.

the three months ended June 30, 2025 and 2024, the Company recorded interest expense of $ 7,723 and $ 7,723 in the condensed consolidated

interim statements of operations.

the three months ended March 31, 2025 and 2024, the Company recorded interest expense of $ 7,639 and $ 7,723 in the condensed consolidated interim statements of operations.

February 11, 2022, the Company issued a convertible note with a principal amount of $ 137,500 for cash proceeds of $ 125,000 .

12 unchanged sentences

were amortized to consolidated statements of operations over the term of the convertible note using the effective interest method.

the three months ended June 30, 2025 and 2024, the Company recorded interest expense of $ 11,397 and $ 11,397 in the condensed consolidated

interim statements of operations.

the three months ended March 31, 2025 and 2024, the Company recorded interest expense of $ 11,274 and $ 11,398 in the condensed consolidated interim statements of operations.

notes issued during year ended December 31, 2022

13 unchanged sentences

The total of the original issuance discount and the allocated fair value of the warrants

were amortized to condensed consolidated interim statements of operations over the term of the convertible note using the effective

interest method.

the three months ended June 30, 2025 and 2024, the Company recorded interest expense of $ 9,324 and $ 9,324 in the condensed consolidated

interim statements of operations.

were amortized to condensed consolidated interim statements of operations over the term of the convertible note using the effective interest method.

the three months ended March 31, 2025 and 2024, the Company recorded interest expense of $ 9,221 and $ 9,324 in the condensed consolidated interim statements of operations.

June 24, 2022, the Company issued a convertible note with a principal amount of $ 110,000 for cash proceeds of $ 100,000 .

13 unchanged sentences

were amortized to consolidated statements of operations over the term of the convertible note using the effective interest method.

the three months ended June 30, 2025 and 2024, the Company recorded interest expense of $ 9,324 and $ 9,324 in the condensed consolidated

interim statements of operations.

the three months ended March 31, 2025 and 2024, the Company recorded interest expense of $ 9,221 and $ 9,324 in the

condensed consolidated interim statements of operations.

notes issued during year ended December 31, 2022

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were amortized to consolidated statements of operations over the term of the convertible note using the effective interest method.

the three months ended June 30, 2025 and 2024, the Company recorded interest expense of $ 6,995 and $ 6,995 in the condensed consolidated

interim statements of operations.

the three months ended March 31, 2025 and 2024, the Company recorded interest expense of $ 6,917 and $ 6,995 in the condensed consolidated interim statements of operations.

May 5, 2022, the Company issued a convertible note with a principal amount of $ 110,000 for cash proceeds of $ 100,000 .

13 unchanged sentences

were amortized to consolidated statements of operations over the term of the convertible note using the effective interest method.

the three months ended June 30, 2025 and 2024, the Company recorded interest expense of $ 9,118 and $ 9,118 in the condensed consolidated

interim statements of operations.

the three months ended March 31, 2025 and 2024, the Company recorded interest expense of $ 9,017 and $ 9,118 in the condensed consolidated interim statements of operations.

October 14, 2022, the Company issued a convertible note with a principal amount of $ 110,000 for cash proceeds of $ 110,000 .

10 unchanged sentences

the effective interest method.

the three months ended June 30, 2025 and 2024, the Company recorded interest expense of $ 7,404 and $ 7,404 in the condensed consolidated

interim statements of operations.

the three months ended March 31, 2025 and 2024, the Company recorded interest expense of $ 7,323 and $ 7,404 in the condensed consolidated interim statements of operations.

December 15, 2022, the Company issued a convertible note with a principal amount of $ 220,000 for cash proceeds of $ 200,000 .

12 unchanged sentences

were being amortized to consolidated statements of operations over the term of the convertible note using the effective interest

the three months ended June 30, 2025 and 2024, the Company recorded interest expense of $ 18,649 and $ 18,649 in the condensed consolidated

interim statements of operations.

the three months ended March 31, 2025 and 2024, the Company recognized amortization expense of $ Nil and $ 2,765 , respectively,

in the consolidated statements of operations.

The discount was fully amortized at December 31, 2024.

the three months ended March 31, 2025 and 2024, the Company recorded interest expense of $ 18,444 and $ 18,649 in the condensed consolidated interim statements of operations.

notes issued during year ended December 31, 2023

5 unchanged sentences

The convertible note matured on December 31, 2023.

the three months ended June 30, 2025 and 2024, the Company recorded interest expense of $ 1,696 and $ 1,696 , respectively, in the

the three months ended March 31, 2025 and 2024, the Company recorded interest expense of $ 1,678 and $ 1,696 , respectively, in the

condensed consolidated interim statements of operations.

7 unchanged sentences

of operations over the term of the convertible note using the effective interest method.

the three months ended June 30, 2025 and 2024, the Company recorded interest expense of $ 1,645 and $ 1,645 in the consolidated

statements of operations.

the three months ended March 31, 2025 and 2024, the Company recorded interest expense of $ 1,628 and $ 1,646 in the consolidated statements

of operations.

7 Senior Secured Notes

62 unchanged sentences

Balance at December

Company recorded interest expenses of $ 365,999 and $ 365,999 for the three months ended June 30, 2025 and 2024, respectively.

interest payable on senior secured notes as on June 30, 2025 and December 31, 2024 amounts to $ 7,126,870 and $ 6,398,894 respectively.

Company recorded interest expenses of $ 361,977 and $ 365,999 for the three months ended March 31, 2025 and 2024, respectively.

Company recorded discount amortization expenses of $ Nil and $ 115,923 , respectively for the three months ended March 31, 2025 and

interest payable on senior secured notes as on March 31, 2025 and December 31, 2024 amounts to $ 6,760,871 and $ 6,398,894 respectively.

8 Related Party

at June 30, 2025 and December 31, 2024, respectively, $ 523,307 and $ 394,617 was due to principal shareholder.

at March 31, 2025 and December 31, 2024, respectively, $ 485,311 and $ 394,617 was due to principal shareholder.

This amounts were

1 unchanged sentence

9 Stockholders’ Deficiency

of June 30, 2025 and December 31, 2024, the Company is authorized to issue 50,000,000 shares of preferred stock, with designations,

of March 31, 2025 and December 31, 2024, the Company is authorized to issue 50,000,000 shares of preferred stock, with designations,

voting, and other rights and preferences to be determined by our Board of Directors, of which 48,460,905 remain available for

29 unchanged sentences

The Company will provide at least 45 days' written notice of any such Liquidation.

The number of Series A Preferred Stock issued

and outstanding as of June 30, 2025 and December 31, 2024 was Nil .

The number of Series A Preferred Stock issued and outstanding as of March 31, 2025 and December 31, 2024 was Nil .

July 28, 2020, the Company filed a certificate of designations of Series B Super Voting Preferred Stock (the “Certificate

47 unchanged sentences

options issued expired without exercise.

number of Series B Preferred Stock issued and outstanding as of June 30, 2025 and December 31, 2024 was 100 .

number of Series B Preferred Stock issued and outstanding as of March 31, 2025 and December 31, 2024 was 100 .

C Preferred Stock

18 unchanged sentences

Company did not issue Series C Preferred Stock.

As at June 30, 2025 and December 31, 2024, no shares of Series C Preferred Stock

As at March 31, 2025 and December 31, 2024, no shares of Series C Preferred Stock

are outstanding.

22 unchanged sentences

shares of its Common Stock.

As of June 30, 2025 and December 31, 2024, 155,000 shares of Series D Preferred Stock remain unconverted

As of March 31, 2025 and December 31, 2024, 155,000 shares of Series D Preferred Stock remain unconverted

and outstanding.

48 unchanged sentences

derivative liabilities during year ended December 31, 2021.

As at June 30, 2025 and December 31, 2024, no shares of Series E Preferred

Stock are outstanding.

As of June 30, 2025 and December 31, 2024, 1,152,000 shares of Series E-1 Preferred Stock are outstanding.

As at March 31, 2025 and December 31, 2024, no shares of Series E

Preferred Stock are outstanding.

As of March 31, 2025 and December 31, 2024, 1,152,000 shares of Series E-1 Preferred Stock are outstanding.

F Preferred Stock

19 unchanged sentences

October 11, 2021, the 1,000 shares of Series F Preferred Stock were converted into 192,073,017 shares of Common Stock.

30, 2025 and December 31, 2024, Nil shares of Series F Preferred Stock were issued and outstanding

As of March 31, 2025 and December 31, 2024, Nil shares of Series F Preferred Stock were issued and outstanding

G Preferred Stock

58 unchanged sentences

value with the remaining $ 39,855 reclassified into in additional paid-in capital.

June 30, 2025 and December 31, 2024, 39,895 shares of Series H Preferred Stock remain outstanding.

issuances of Common Stock occurred in the six months ended June 30, 2025 and year ended December 31, 2024.

March 31, 2025 and December 31, 2024, 39,895 shares of Series H Preferred Stock remain outstanding.

issuances of Common Stock occurred in the three months ended March 31, 2024 and year ended December 31, 2024.

August 14, 2021, our shareholders approved an increase in the authorized number of shares of Common Stock to 6,000,000,000, from

500,000,000 , which became effective the same day.

As of, 2025 and December 31, 2024, there were 1,603,095,243 shares outstanding,

respectively.

As of March 31, 2025 and December 31, 2024, there were 1,603,095,243 shares

outstanding, respectively.

issued warrants issued as loan incentives and valued the warrants on their respective grant dates using the Black-Scholes option

1 unchanged sentence

Warrant values per share ranged from $0.023 to $0.002.

For the six months ended June 30, 2025, a summary of

our warrant activity is as follows:

For the three months ended March 31, 2025, a summary

of our warrant activity is as follows:

Summary of our warrant activity is as follows

Outstanding and exercisable

at January 1, 2025

Outstanding and

exercisable at June 30, 2025

Outstanding and exercisable at January 1, 2025

( 10,600,000 )

Outstanding and exercisable at March 31, 2025

determining the fair value of these equity-classified features, the Company considered the fact that its common stock is quoted

32 unchanged sentences

Company has evaluated subsequent events through December 23, 2025, the date the financial statements were available to be issued.

to June 30, 2025, the Company received $ 214,039 in additional funding from its principal shareholder, Arena.

to March 31, 2025, the Company received $ 252,035 in additional funding from its principal shareholder, Arena.

These funds were

4 unchanged sentences

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-Q

Item 1. Financial Statements