Note 1 – Nature of the Business

JFB Construction & Development, Inc. (“JFB” or the “Company”) was incorporated in the State of Florida on May 28, 2014, and is based in Lantana, Florida. The Company offers more than 100 years of combined generational experience in residential and commercial construction and development. JFB builds multifamily communities, exclusive estate & equestrian homes, and over 2 million square feet of commercial retail and shopping centers. The Company meets its customers’ needs through advanced scheduling, deep construction expertise, innovative problem solving and continuous communication during construction.

On April 09, 2024, JFB Construction Holdings was formed out of the state of Nevada to serve as the parent company of JFB Construction & Development, Inc. The consolidated financial statements of JFB Construction Holdings reflect the financial position, results of operations and cash flows of both JFB Construction Holdings and its subsidiaries from the date of consolidation.

Basis of Presentation

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The consolidated financial statements include the accounts of JFB Construction Holdings and its wholly owned subsidiaries, including JFB Construction & Development, Inc. All intercompany balances and transactions have been eliminated in consolidation.

The consolidated financial statements have been prepared on the accrual basis of accounting and in accordance with the historical most convention, except for certain financial instruments that may be recorded at the fair value as required by GAAP. Management has evaluated events and transactions occurring subsequent to the balance sheet date for potential recognition or disclosure in the consolidated financial statements.