NOTE 3 – GOING CONCERN AND MANAGEMENT’S LIQUIDITY PLANS

As at June 30, 2025, the Company had cash of $3,144 and a negative working capital of $2,779,627. The Company has not yet generated any revenues, and has incurred an accumulated deficit of $20,239,366. These conditions raise substantial doubt about the Company’s ability to continue as a going concern.

During the six months ended June 30, 2025, the Company raised a net of $261,177 in cash proceeds from loans to affiliates. During the same period in 2024, the Company raised a net of $63,000 in cash proceeds from equity, $61,500 from Note sales and $48,070 in short-term loans (whereof $10,070 from affiliates). The Company is aware that its current cash on hand will not be sufficient to fund its projected operating requirements through the month of July 2025, and is pursuing alternative opportunities to funding.

The Company intends to raise additional capital through private placements of debt and equity securities, but there can be no assurance that these funds will be available on terms acceptable to the Company, or will be sufficient to enable the Company to fully complete its development activities or sustain operations. If the Company is unable to raise sufficient additional funds, it will have to develop and implement a plan to further extend payables, reduce overhead, or scale back its current business plan until sufficient additional capital is raised to support further operations. There can be no assurance that such a plan will be successful.

Accordingly, the accompanying unaudited condensed consolidated financial statements have been prepared in conformity with U.S. GAAP, which contemplates continuation of the Company as a going concern and the realization of assets and satisfaction of liabilities in the normal course of business. The carrying amounts of assets and liabilities presented in the unaudited condensed consolidated financial statements do not necessarily purport to represent realizable or settlement values. The unaudited condensed consolidated financial statements do not include any adjustment that might result from the outcome of this uncertainty.