What changed in this filing

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Item 1A. Risk Factors

2022-04-15 compared with 2021-04-16 · 127 added, 125 removed, 31 unchanged (89% of the section changed)

as a smaller reporting company, we are permitted to omit risk factors.

However, we believe the following Risk Factors are material

to our business.

However, we believe the following Risk Factors are material to

our business.

These do not encompass all risks related to our operations.

should carefully consider the risks described below together with all of the other information included in this annual report

before making an investment decision with regard to our securities.

The statements contained in or incorporated herein that

are not historic facts are forward-looking statements that are subject to risks and uncertainties that could cause actual

results to differ materially from those set forth in or implied by forward-looking statements.

If any of the following risks

actually occurs, our business, financial condition or results of operations could be harmed.

In that case, you may lose all

or part of your investment.

In addition to the other information provided in this prospectus, you should carefully consider

the following risk factors in evaluating our business before purchasing any of our common stock.

should carefully consider the risks described below together with all of the other information included in this annual report before

making an investment decision with regard to our securities.

The statements contained in or incorporated herein that are not historic

facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially

from those set forth in or implied by forward-looking statements.

If any of the following risks actually occurs, our business, financial

condition or results of operations could be harmed.

In that case, you may lose all or part of your investment.

In addition to the other

information provided in this prospectus, you should carefully consider the following risk factors in evaluating our business before purchasing

any of our common stock.

Related to Our Financial Condition

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to maintain operation of the Company and its subsidiaries.

have generated minimal revenues from operations, which makes it difficult for us to evaluate our future business prospects and

make decisions based on those estimates of our future performance.

have generated minimal revenues from operations, which makes it difficult for us to evaluate our future business prospects and make decisions

based on those estimates of our future performance.

of December 31, 2021, we had generated insufficient revenues.

As a consequence, it is difficult, if not impossible, to forecast

our future results based upon our historical data.

As a consequence, it is difficult, if not impossible, to forecast our future

results based upon our historical data.

Our projections are based upon our best estimates on future growth.

of the related uncertainties, we may be hindered in our ability to anticipate and timely adapt to increases or decreases in sales,

revenues, or expenses.

If we make poor budgetary decisions as a result of unreliable data, we may never become profitable or incur

losses, which may result in a decline in our stock price.

is substantial doubt about our ability to continue as a going concern and if we are unable to generate significant revenue or

secure additional financing, we may be unable to implement our business plan and grow our business.

Because of the related uncertainties,

we may be hindered in our ability to anticipate and timely adapt to increases or decreases in sales, revenues, or expenses.

poor budgetary decisions as a result of unreliable data, we may never become profitable or incur losses, which may result in a decline

in our stock price.

is substantial doubt about our ability to continue as a going concern and if we are unable to generate significant revenue or secure

additional financing, we may be unable to implement our business plan and grow our business.

are just graduating as an emerging growth company and are in the process of selling and developing our products.

Consequently,

we have not generated enough revenues as of the date of this prospectus.

We have an accumulated deficit and have incurred operating

losses since our inception and expect losses to continue during the remainder of fiscal 2021.

Our independent registered public

accounting firm has indicated in their report that these conditions raise substantial doubt about our ability to continue as a

going concern for a period of 12 months from the issuance date of this report.

The continuation of our business as a going

concern is dependent upon the continued financial support from our stockholders.

is uncertainty regarding our ability to grow our business to a greater extent than we can with our existing financial resources,

also described above, without additional financing.

We have no agreements, commitments, or understandings to secure additional

financing at this time.

Our long-term future growth and success is dependent upon our ability to continue selling our products

and services, generate cash from operating activities and obtain additional financing.

There is no assurance that we will be able

to continue selling our products and services, generate sufficient cash from operations, sell additional shares of common stock

or borrow additional funds.

Our inability to obtain additional cash could have a material adverse effect on our ability to grow

our business to a greater extent than we can with our existing financial resources, also described above.

required to operate as a public company will reduce funds available to implement our business plan and could negatively affect

Consequently, we have

not generated enough revenues as of the date of this prospectus.

We have an accumulated deficit and have incurred operating losses since

our inception and expect losses to continue during the remainder of fiscal 2021.

Our independent registered public accounting firm has

indicated in their report that these conditions raise substantial doubt about our ability to continue as a going concern for a period

of 12 months from the issuance date of this report.

The continuation of our business as a going concern is dependent upon the continued

financial support from our stockholders.

is uncertainty regarding our ability to grow our business to a greater extent than we can with our existing financial resources, also

described above, without additional financing.

We have no agreements, commitments, or understandings to secure additional financing at

Our long-term future growth and success is dependent upon our ability to continue selling our products and services, generate

cash from operating activities and obtain additional financing.

There is no assurance that we will be able to continue selling our products

and services, generate sufficient cash from operations, sell additional shares of common stock or borrow additional funds.

Our inability

to obtain additional cash could have a material adverse effect on our ability to grow our business to a greater extent than we can with

our existing financial resources, also described above.

required to operate as a public company will reduce funds available to implement our business plan and could negatively affect our stock

price and adversely affect our results of operations, cash flow and financial condition.

as a public company is more expensive than operating as a private company, including additional funds required to obtain outside assistance

from legal, accounting, investor relations, or other professionals that could be costlier than planned.

We may also be required to hire

additional staff to comply with additional SEC reporting requirements.

We anticipate that the cost of SEC reporting will be approximately

$100,000 annually.

Our failure to comply with reporting requirements and other provisions of securities laws could negatively affect

our stock price and adversely affect our results of operations, cash flow and financial condition.

as a public company is more expensive than operating as a private company, including additional funds required to obtain

outside assistance from legal, accounting, investor relations, or other professionals that could be costlier than planned.

may also be required to hire additional staff to comply with additional SEC reporting requirements.

We anticipate that the

cost of SEC reporting will be approximately $100,000 annually.

Our failure to comply with reporting requirements and other

provisions of securities laws could negatively affect our stock price and adversely affect our results of operations, cash

flow and financial condition.

If we fail to meet these requirements, we will be unable to secure a qualification for

quotation of our securities on the OTCQB, or if we have secured a qualification, we may lose the qualification and our

securities would no longer trade on the OTCQB.

Further, if we fail to meet these obligations and consequently fail to satisfy

our SEC reporting obligations, investors will then own stock in a company that does not provide the disclosure available in

quarterly, annual reports and other required SEC reports that would be otherwise publicly available leading to increased

difficulty in selling their stock due to our becoming a non-reporting issuer.

If we fail to meet these requirements,

we will be unable to secure a qualification for quotation of our securities on the OTC Markets, or if we have secured a qualification,

we may lose the qualification and our securities would no longer trade on the OTC Markets.

Further, if we fail to meet these obligations

and consequently fail to satisfy our SEC reporting obligations, investors will then own stock in a company that does not provide the

disclosure available in quarterly, annual reports and other required SEC reports that would be otherwise publicly available leading to

increased difficulty in selling their stock due to our becoming a non-reporting issuer.

Related to Our Business

rely on our Chief Executive Officer to operate our business.

The loss of our Chief Executive Officer could have a material adverse

effect on our business.

The loss of our Chief Executive Officer could have a material adverse effect

on our business.

operations are highly dependent upon the efforts of our Chief Executive Officer, Nicholas Campanella.

The success of our Company

is heavily reliant upon the efforts and resources of Nicholas Campanella.

The loss of our Chief Executive Officer would have a

material adverse effect on our business, financial condition, and results of operations, particularly if we are unable to hire

or relocate and integrate suitable replacements on a timely basis or at all.

Further, in order to continue to grow our business,

we will need to expand our senior management team.

The success of our Company is heavily

reliant upon the efforts and resources of Nicholas Campanella.

The loss of our Chief Executive Officer would have a material adverse

effect on our business, financial condition, and results of operations, particularly if we are unable to hire or relocate and integrate

suitable replacements on a timely basis or at all.

Further, in order to continue to grow our business, we will need to expand our senior

management team.

We may be unable to attract or retain these persons.

This could hinder our

ability to grow our business and could disrupt our operations or otherwise have a material adverse effect on our business.

This could hinder our ability to grow our business and could disrupt

our operations or otherwise have a material adverse effect on our business.

are unable to attract additional management personnel and members to our Board of Directors.

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insurance, therefore we are unable to attract additional executive personnel or Board Members.

Until we can secure, at a minimum

directors’ and officers’ insurance, the executive duties shall remain with our Chief Executive Officer.

action by disgruntled shareholders and former employees may endanger our ability to raise capital for our ongoing projects through

our subsidiary interests and may create additional financial risks.

Until we can secure, at a minimum directors’

and officers’ insurance, the executive duties shall remain with our Chief Executive Officer.

action by disgruntled shareholders and former employees may endanger our ability to raise capital for our ongoing projects through our

subsidiary interests and may create additional financial risks.

disgruntled shareholders have filed a derivative suit which has been dismissed against the Company but such actions could complicate

our ability to secure financing.

Specifically, our Rhode Island waste to energy project is being operated through our subsidiary

holding, MedRecycler-RI, Inc.

and this action could potentially harm our negotiating position with certain authorities that are

required to approve the permanent financing for the project.

In addition, a former executive of the Company contacted authorities

approving the project, availing their potential legal actions to the negotiation process.

Specifically, our Rhode Island waste to energy project is being operated through our subsidiary holding,

MedRecycler-RI, Inc.

and this action could potentially harm our negotiating position with certain authorities that are required to approve

the permanent financing for the project.

In addition, a former executive of the Company contacted authorities approving the project,

availing their potential legal actions to the negotiation process.

He has since filed suit.

These threated

and ongoing legal actions could require the Company to provide additional security or to seek alternative means of financing the

project altogether that could necessitate a change in the capital structure of the Subsidiary to allow for the placement of permanent

Although the Company has sought alternative means of securing permanent financing, due to the financial condition of

the Company, we were unable to overcome the lack of creditworthiness as a major factor contributing to the failure to secure permanent

The consequences of these threats and ongoing suits could negatively affect the outcome of the project, including,

but not limited to, potential foreclosure by the bridge financier, which could result in the total loss of the project for the

Company and a change in control of the Company.

As the financier is not likely willing to operate and maintain an insolvent public

company, such foreclosure could result in a bankruptcy and/or total restructuring of the Company.

In addition, defending any legal

action could add additional financial risk to the Company that could result if its bankruptcy and/or total restructuring.

These threated and ongoing legal actions

could require the Company to provide additional security or to seek alternative means of financing the project altogether that could

necessitate a change in the capital structure of the Subsidiary to allow for the placement of permanent financing.

Although the Company

has sought alternative means of securing permanent financing, due to the financial condition of the Company, we were unable to overcome

the lack of creditworthiness as a major factor contributing to the failure to secure permanent financing.

The consequences of these threats

and ongoing suits could negatively affect the outcome of the project, including, but not limited to, potential foreclosure by the bridge

financier, which could result in the total loss of the project for the Company and a change in control of the Company.

As the financier

is not likely willing to operate and maintain an insolvent public company, such foreclosure could result in a bankruptcy and/or total

restructuring of the Company.

In addition, defending any legal action could add additional financial risk to the Company that could result

if its bankruptcy and/or total restructuring.

to the current debt load of the Company, our credit worthiness may endanger our ability to secure financing.

the financial condition of the Company, securing financing for a project such as our waste to energy project has been a very

difficult task, as has been the case for most fund-raising efforts for the Company.

The current debt load and financial

performance of the Company could raise creditworthiness issues in the eyes of potential lenders.

The current state of the

Company’s credit could require the Company to evaluate new corporate and capital structures of our subsidiaries in

order to shield our subsidiary interests from the liabilities of the Company.

If we fail to present lenders with a credit

profile that will meet their standards, large projects, such as our subsidiary project in MedRecycler-RI, Inc.

could fail or

require new corporate and or capital restructuring.

Given that the Company is already heavily in debt, such failure to secure

financing and complete the project could require the Company to file for bankruptcy and encumber all of the assets of the

the financial condition of the Company, securing financing for a project such as our waste to energy project has been a very difficult

task, as has been the case for most fund-raising efforts for the Company.

The current debt load and financial performance of the Company

could raise creditworthiness issues in the eyes of potential lenders.

The current state of the Company’s credit could require the

Company to evaluate new corporate and capital structures of our subsidiaries in order to shield our subsidiary interests from the liabilities

of the Company.

If we fail to present lenders with a credit profile that will meet their standards, large projects, such as our subsidiary

project in MedRecycler-RI, Inc.

could fail or require new corporate and or capital restructuring.

Given that the Company is already heavily

in debt, such failure to secure financing and complete the project could require the Company to file for bankruptcy and encumber all

of the assets of the Company.

current ownership has the effect of concentrating voting control with our Chief Executive Officer and his family;

our other stockholders’ and your ability to influence corporate matters.

this limits our other

stockholders’ and your ability to influence corporate matters.

Campanella currently holds 12,000,000 shares of Series A Preferred Stock.

Each share of Series A Preferred Stock is entitled to

125 votes per share.

Each share of Series A Preferred Stock is entitled to 125 votes

As a result, Nicholas Campanella has 1,500,000,000 voting rights.

As a result of this concentration of voting

power, Nicholas Campanella will have significant influence over the management and affairs of the Company and control over matters

requiring stockholder approval, including the election of directors and significant corporate transactions, such as mergers or

other sales of the Company or our assets, for the foreseeable future.

This concentration of voting control will limit your ability

to influence corporate matters and could adversely affect the market price of our Common Stock once a market is established.

director and officer, Nicholas Campanella will control and make corporate decisions that may differ from those that might be made

by the other shareholders.

As a result of this concentration of voting power, Nicholas

Campanella will have significant influence over the management and affairs of the Company and control over matters requiring stockholder

approval, including the election of directors and significant corporate transactions, such as mergers or other sales of the Company or

our assets, for the foreseeable future.

This concentration of voting control will limit your ability to influence corporate matters and

could adversely affect the market price of our Common Stock once a market is established.

director and officer, Nicholas Campanella will control and make corporate decisions that may differ from those that might be made by

the other shareholders.

to the controlling amount of their share ownership in our Company, Nicholas Campanella will have a significant influence in determining

the outcome of all corporate transactions, including the power to prevent or cause a change in control.

His interests may differ

from the interests of other stockholders and thus result in corporate decisions that are disadvantageous to other shareholders.

director and officer, Nicholas Campanella, holds substantial debt that is convertible into common stock, resulting in even greater

control over the Company.

Campanella holds convertible promissory notes in excess of $800,000, making Nicholas Campanella the largest creditor of the Company

outside of the MedRecycler project.

The convertible promissory notes are convertible into common stock at rate of a 50% discount

If Nicholas Campanella were to foreclose upon the limited assets of the Company, we would likely have to file for bankruptcy.

Alternatively, Nicholas Campanella could convert the promissory note into common stock increasing his control over the Company.

His interests may differ from

the interests of other stockholders and thus result in corporate decisions that are disadvantageous to other shareholders.

director and officer, Nicholas Campanella, holds substantial debt that is convertible into common stock, resulting in even greater control

over the Company.

Campanella holds convertible promissory notes in excess of $800,000, making Nicholas Campanella the largest creditor of the Company outside

of the MedRecycler project.

The convertible promissory notes are convertible into common stock at rate of a 50% discount to market.

Nicholas Campanella were to foreclose upon the limited assets of the Company, we would likely have to file for bankruptcy.

Alternatively,

Nicholas Campanella could convert the promissory note into common stock increasing his control over the Company.

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 1A. Risk Factors