What changed in this filing

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Item 1. Financial Statements

2023-10-10 compared with 2023-07-21 · 98 added, 111 removed, 129 unchanged (62% of the section changed)

1 unchanged sentence

CONSOLIDATED BALANCE SHEET

November 30, 2022

and equivalents

and other current assets

current assets

Cash and equivalents

Prepaids and other current assets

Total current assets

Intangible assets

LIABILITIES AND STOCKHOLDERS’ EQUITY

AND STOCKHOLDERS’ EQUITY (DEFICIT)

payable and accrued expenses

payroll - related party

current liabilities

Accounts payable and accrued expenses

Accrued payroll - related party

Related party loan

Total current liabilities

LONG TERM LIABILITIES

Loans payable

Total long term liabilities

Total Liabilities

STOCKHOLDERS’ EQUITY

Preferred stock, 100,000 shares authorized, $ 0.001 par value, 100,000 and - 0 - shares issued and outstanding, respectively

Common stock, 1,000,000,000 shares authorized, $ 0.001 par value, 514,333,691 and 7,105,357 shares issued and outstanding, respectively

Subscription receivable

Treasury stock

Additional paid in capital

Accumulated deficit

Total Stockholders’ Equity

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

STOCKHOLDERS’

EQUITY (DEFICIT)

stock, 100,000 shares authorized, $ 0.001 par value, 100,000 and - 0 - shares issued and outstanding, respectively

stock, 1,000,000,000 shares authorized, $ 0.001 par value, 514,333,691 and 7,105,357 shares issued and outstanding, respectively

paid in capital

( 2,137,288 )

Stockholders’ Equity (Deficit)

( 1,063,834 )

LIABILITIES AND STOCKHOLDERS’ EQUITY ( DEFICIT )

accompanying notes are an integral part of these unaudited condensed consolidated financial statements

CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended

Six Months Ended

and administrative

Operating Expenses

General and administrative

Total Operating Expenses

Loss from Operations

OTHER INCOME (EXPENSE)

Impairment of assets

Other expense

Loss before Income Taxes

Income tax expense

from Operations

( 1,446,398 )

( 1,918,463 )

Net loss per share - basic

Weighted average shares outstanding - basic

INCOME (EXPENSE)

before Income Taxes

( 1,446,398 )

( 2,013,529 )

$ ( 1,446,398 )

$ ( 2,013,529 )

loss per share - basic

average shares outstanding - basic

accompanying notes are an integral part of these unaudited condensed consolidated financial statements

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY (DEFICIT)

Stockholders’

Preferred Shares

Common Shares

Additional Paid in

Stockholders’

Balance at November 30, 2022

4 unchanged sentences

Purchase of treasury shares

Contribution from settlement of related party

Contribution from settlement of related party liabilities

Balance at May 31, 2023

2 unchanged sentences

$ ( 690,890 )

Cash received for subscription receivable

( 1,446,398 )

Balance at August 31, 2023

$ ( 435,000 )

$ ( 2,137,288 )

$ ( 1,063,834 )

Balance at November 30, 2021

1 unchanged sentence

Balance at May 31, 2022

Balance at August 31, 2022

$ ( 104,952 )

accompanying notes are an integral part of these unaudited condensed consolidated financial statements

CONSOLIDATED STATEMENT OF CASH FLOWS

Six Months Ended

Cash flows from operating activities

flows from operating activities

$ ( 2,013,529 )

Adjustments to reconcile net loss to net cash used in operating activities:

Depreciation and amortization

Impairment of assets

Write off assets

Changes in operating assets and liabilities

Prepaid expenses

Accounts payable and accrued expenses

Accrued payroll - related party

Net cash used in operating activities

Cash flows from financing activities

Proceeds from the issuance stock

Treasury repurchase

Related party loan

Net cash provided by financing activities

Net increase (decrease) in cash

Cash, beginning of period

Cash, end of period

Supplemental Information:

Cash paid for:

Interest Expense

Non-Cash Investing and Financing Activities

Contribution from settlement of related party liabilities

to reconcile net loss to net cash used in operating activities:

and amortization

in operating assets and liabilities

payable and accrued expenses

payroll - related party

cash used in operating activities

flows from investing activities

development costs

cash used in investing activities

flows from financing activities

from the issuance stock

stock repurchase

cash provided by financing activities

increase (decrease) in cash

beginning of period

end of period

Investing and Financing Activities

from settlement of related party liabilities

accompanying notes are an integral part of these unaudited condensed consolidated financial statements

28 unchanged sentences

2 – Going Concern

accompanying unaudited condensed consolidated financial statements have been prepared in conformity with generally accepted

accounting principles, which contemplate continuation of the Company as a going concern.

The Company had limited revenues and

incurred losses during the period ended May 31, 2023 and year ended November 30, 2022.

These conditions raise substantial doubt

about the Company’s ability to continue as a going concern.

accompanying unaudited condensed consolidated financial statements have been prepared in conformity with generally accepted accounting

principles, which contemplate continuation of the Company as a going concern.

The Company had limited revenues and incurred losses during

the period ended August 31, 2023 and year ended November 30, 2022.

These conditions raise substantial doubt about the Company’s

ability to continue as a going concern.

anticipates that the Company may be dependent, for the near future, on additional investment capital to fund operating expenses.

3 unchanged sentences

3 — Summary of Significant Accounting Policies

Basis of Presentation

accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with generally

accepted accounting principles in the United States of America (“U.S.

GAAP”) and the interim reporting rules of the

Securities and Exchange Commission (“SEC”).

Certain information and note disclosures normally included in financial

statements prepared in accordance with U.S.

GAAP, have been condensed or omitted from these statements pursuant to such rules and

regulation and, accordingly, they do not include all the information and notes necessary for comprehensive financial statements and

should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s latest Annual

Report filed with the SEC on Form 10-K.

In the opinion of management, all adjustments, consisting of normal recurring adjustments

(unless otherwise indicated), necessary for a fair presentation of the financial position and the results of operations for the

interim periods presented have been reflected herein.

The results of operations for interim periods are not necessarily indicative

of the results to be expected for the full year.

of Presentation

accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with generally accepted

accounting principles in the United States of America (“U.S.

GAAP”) and the interim reporting rules of the Securities and

Exchange Commission (“SEC”).

Certain information and note disclosures normally included in financial statements prepared

in accordance with U.S.

GAAP, have been condensed or omitted from these statements pursuant to such rules and regulation and, accordingly,

they do not include all the information and notes necessary for comprehensive financial statements and should be read in conjunction

with the audited financial statements and notes thereto contained in the Company’s latest Annual Report filed with the SEC on Form

In the opinion of management, all adjustments, consisting of normal recurring adjustments (unless otherwise indicated), necessary

for a fair presentation of the financial position and the results of operations for the interim periods presented have been reflected

The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year.

of Consolidation

9 unchanged sentences

to be cash equivalents.

There were no cash equivalents as of May 31, 2023 and November 30, 2022.

Company maintains its cash balances at financial institutions that are insured by the Federal Deposit Insurance Corporation (“FDIC”).

1 unchanged sentence

and non-interest-bearing accounts.

At May 31, 2023, approximately $ 58,000 of the Company’s cash balances were in excess of FDIC

The Company has not experienced any losses on these accounts and management does not believe that the Company is exposed to any

significant risks.

Company evaluates intangible assets and other long-lived assets for possible impairment whenever events or changes in circumstances indicate

8 unchanged sentences

year or more often if and when circumstances indicate that goodwill may not be recoverable.

the period ended May 31, 2023, as a result in the shift in the Company’s operations, the Company determined its intangible assets,

the period ended August 31, 2023, as a result in the shift in the Company’s operations, the Company determined its intangible assets,

prepaid expenses and other current assets were impaired resulting in an impairment expense totaling $ 94,952 .

24 unchanged sentences

issued and if the additional common shares were dilutive.

Company had no additional dilutive securities outstanding at May 31, 2023 or May 31, 2022.

Company had no additional dilutive securities outstanding at August 31, 2023 or August 31, 2022.

Issued Accounting Standards

the period ended May 31, 2023, there were several new accounting pronouncements issued by the FASB.

Each of these pronouncements, as

applicable, has been or will be adopted by the Company.

the period ended August 31, 2023, there were several new accounting pronouncements issued by the FASB.

Each of these pronouncements,

as applicable, has been or will be adopted by the Company.

Management does not believe the adoption of any of these accounting pronouncements

5 unchanged sentences

5 — Stockholders’ Equity

fiscal year ended November 30, 2022, the total number of shares of all classes of stock which the Company was authorized to issue

was 75,000,000

shares of common stock, par value $ 0.001

May 16, 2023, the Company filed an amendment to the Articles of Incorporation with the State of Nevada to increase the total number

of shares authorized issue to 1,000,100,000 ,

consisting of 1,000,000,000

shares of common stock having a par value of $ 0.001

per share and 100,000

fiscal year ended November 30, 2022, the total number of shares of all classes of stock which the Company was authorized to issue was

75,000,000 shares of common stock, par value $ 0.001 per share.

May 16, 2023, the Company filed an amendment to the Articles of Incorporation with the State of Nevada to increase the total number of

shares authorized issue to 1,000,100,000 , consisting of 1,000,000,000 shares of common stock having a par value of $ 0.001 per share and

100,000 shares of Series A Super-Voting Preferred stock having a par value of $ 0.001 .

1 unchanged sentence

Common stock vote on the basis of 1 vote per share .

May 2023, the Company issued 100,000 shares of Series A Super-Voting Preferred stock and 507,228,334 shares of common stock in exchange

for proceeds totaling $ 1,265,476 , including $ 287,648 in subscriptions receivable.

During May 2023, the Company purchased 6,013,334 shares of

common stock from Ioanna Kallidou for $ 435,000 .

The shares were recorded as Treasury Stock at May 31, 2023.

the nine months ended August 31, 2023, the Company issued 100,000 shares of Series A Super-Voting Preferred stock and 507,228,334 shares

of common stock in exchange for proceeds totaling $ 1,265,476 , including $ 30,975 in subscriptions receivable.

the nine months ended August 31, 2023, the Company purchased 6,013,334 shares of common stock from Ioanna Kallidou for $ 435,000 .

shares were recorded as Treasury Stock at August 31, 2023.

the nine months ended, there were 514,333,691 shares of common stock and 100,000 shares of preferred stock issued and outstanding.

6 — Related Party Transactions

2 unchanged sentences

As a result of the forgiveness, a contribution was recorded to additional paid in capital during May 2023.

31, 2023, no balances due to Ioanna Kallidou were outstanding.

Note 7 — Subsequent Events

The Company evaluated subsequent events after May

31, 2023, in accordance with FASB ASC 855 Subsequent Events, through the date of the issuance of these financial statements and has determined

there have been no subsequent events for which disclosure is required.

August 31, 2023, no balances due to Ioanna Kallidou were outstanding.

August 2023, the Company’s CEO loaned the Company $ 200,000 .

This is recorded in loans payable on the balance sheet.

7 — Subsequent Events

On September 23, 2023, the Company entered into a

Letter of Intent to purchase the commercial real estate and all issued and outstanding shares of stock of a salvage, disposal, recycling

and scrap business located in Nevada.

The purchase price for this transaction is $ 8,000,000 .

The Company evaluated other subsequent events after

August 31, 2023 and determined that there are no other events for which disclosure is required.

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