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1. Nature of Business and Going Concern iWallet Corp. (“the Company”) is engaged in the design, development, manufacturing and sales of bio-metric locking wallets, which operate by scanning a user’s fingerprint to open the wallet. iWallet Corporation (“iWallet”) was incorporated on November 18, 2009 in the State of California and is located at 7394 Trade Street, San Diego, California 92121. On July 21, 2014, the Company merged with iWallet Acquisition Corporation (the “Acquisition Sub”) (“the Merger”), a subsidiary formed by Queensridge Mining Resources, Inc. (“Queensridge”) for purposes of the Merger, which resulted in the Company becoming a wholly-owned subsidiary of Queensridge. Immediately following the merger, the Acquisition Sub merged with and into Queensridge. Queensridge immediately changed its name to iWallet Corp and is continuing the business of iWallet as its only line of business. The Company began trading on July 21, 2014, on the OTCQB Exchange under the ticker symbol IWAL. The Company’s functional currency is the U.S. Dollar. The financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (‘U.S. GAAP’), which contemplates continuation of the Company as a going concern. As of June 30, 2026, the Company has a deficit of $6,756,312 and has significant losses and negative cash flows from operations. There is no certainty that the Company will be successful in generating sufficient cash flow from operations or achieving and maintaining profitable operations in the near future to enable it to meet its obligations as they come due. As a result, there is substantial doubt regarding the Company’s ability to continue as a going concern. The future of the Company is dependent upon its ability to obtain financing and upon achieving profitable operations. Management has raised additional capital through private placement offerings and has plans to raise funds through public offering of its capital stock. While the Company has been successful in securing such financing in the past, there is no assurance that it will be able to do so in the future. Accordingly, these financial statements do not give effect to adjustments, relating to the recoverability and classification of recorded assets, or the amounts of and classifications of liabilities that might be necessary in the event the Company cannot continue as a going concern. All adjustments, consisting only of normal recurring items, considered necessary for fair presentation have been included in these financial statements.

-6756312

2. Significant Accounting Policies Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reporting period. Actual results could differ from those estimates. Significant estimates include amounts for useful lives of patents, trademarks, and software and website development costs. Allowance for doubtful accounts The Company extends unsecured credit to its customers in the ordinary course of business but mitigates the associated credit risk by performing credit checks and actively pursuing past due accounts. An allowance for doubtful accounts is estimated and recorded based on management’s assessment of the credit history with the customer and the current relationships with them. The Company has no accounts receivable or allowance for doubtful accounts as of June 30, 2026 or December 31, 2025. Intangible assets Patents and trademarks are measured at cost. Legal fees associated with patents and trademarks, which are expected to be issued, are recorded as patents and trademarks on the balance sheets. Upon approval by the relevant patent office, the patents and trademarks are amortized over their respective expected lives. Patent and trademark costs associated with patents or trademarks which are not approved or are abandoned, are expensed in the period in which such patents are not approved. The Company expects to maintain patents for up to 20 years from the effective date and the trademark registrations for as long as the trademarks remain in use and the required filings are made to keep them in use. However, based on the Company’s assessment of potential innovation or other competing technological developments a useful life of ten years has been assessed for both the patents and the trademarks. Software consists of costs relating to the development of the software behind the biometric scanning and the other security programs involved in the wallets. Costs relating to the development of this software are capitalized and amortized over its estimated useful life of ten years. Website development costs relating to website and mobile application and software development are also capitalized and amortized over its estimated useful life of three years. ASC 350-20, Goodwill, and 350-30, General Intangibles Other than Goodwill, require intangible assets with a finite life be tested for impairment whenever events or circumstances indicate that the carrying amount of an asset (or asset group) may not be recoverable. An impairment loss would be recognized when the carrying amount of an asset exceeds the estimated discounted cash flow used in determining the fair value of the asset. Fair value of financial instruments ASC 820 defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. Included in the ASC 820 framework is a three level valuation inputs hierarchy with Level 1 being inputs and transactions that can be effectively fully observed by market participants spanning to Level 3 where estimates are unobservable by market participants outside of the Company and must be estimated using assumptions developed by the Company. The Company discloses the lowest level input significant to each category of asset or liability valued within the scope of ASC 820 and the valuation method as exchange, income or use. The Company uses inputs which are as observable as possible and the methods most applicable to the specific situation of each company or valued item. The carrying amounts of cash, accounts payable, accrued liabilities, due to related party and convertible debentures approximate fair value because of their short-term nature. Per ASC 820 framework these are considered Level 3 inputs where inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Interest rate risk is the risk that the value of a financial instrument might be adversely affected by a change in the interest rates. The bank indebtedness has a variable interest rate, which results in an exposure to interest rate risk resulting from an increase in rates. In seeking to minimize the risks from interest rate fluctuations, the Company manages exposure through its normal operating and financing activities. All other liabilities are non-interest bearing. Revenue recognition The Company plans to derive revenue from the sale of its wallets and consulting services provided to other companies in the smart wallet market. The Company earned $0 and $0 in consulting during the six months ended June 30, 2026 and 2025, respectively. The Company also plans to derive an insignificant amount of revenue from providing engraving of the wallets. Engraving revenues will be recognized concurrent with the revenues for the related wallet. Revenue is recognized in accordance with ASC 606, Revenue from Contracts with Customers. The Company performs the following five steps: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract, and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The Company applies the five-step model to arrangements that meet the definition of a contract under ASC 606, including when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company evaluates the goods or services promised within each contract related performance obligation and assesses whether each promised good or service is distinct. The Company recognizes as revenue, the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. Concentrations of credit risk The Company’s cash balances are maintained in bank accounts in the United States. Deposits held in banks in the United States are insured up to $250,000 per depositor for each bank by the Federal Deposit Insurance Corporation. Actual balances at times may exceed these limits. Business Segments The Company operates in one segment and therefore segment information is not presented. The Company’s chief operating decision maker (“CODM”) is its chief executive officer, who reviews financial information presented on a consolidated basis. The CODM uses consolidated operating margin and net income (loss) to assess financial performance and allocate resources. These financial metrics are used by the CODM to make key operating decisions. Operating Lease On July 1, 2025, the Company entered into an office lease (the “Lease”) with Steven Cabouli (the “Lessor”), through which the Company leased office space in San Diego, California for a three-year term. The rent is $2,800 monthly. The Lease contains standard other provisions and includes a mutual indemnification clause which requires that the parties indemnify each other except in the case of gross negligence or willful misconduct. The supplemental balance sheet information related to the operating lease for the periods is as follows: Schedule of Balance Sheet Operating Lease <table style="margin:0 auto;border-collapse:collapse;width:85%"><tr><td valign="top"></td><td colspan="2" style="border-bottom:0.5pt solid #000000" valign="bottom">June 30, 2026 </td><td valign="bottom"> </td><td colspan="2" style="width:25.9%;border-bottom:0.5pt solid #000000" valign="bottom">December 31, 2025 </td></tr> <tr><td valign="top">Operating lease </td><td style="width:4.44%;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:17.12%;border-top:0.5pt solid #000000" valign="bottom"> </td><td valign="bottom"> </td><td style="width:4.98%;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:20.94%;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="background-color:#DBE5F1" valign="top">Long-term right-of-use assets </td><td style="background-color:#DBE5F1;width:4.44%;border-bottom:3px double #000000" valign="bottom">$ </td><td style="background-color:#DBE5F1;width:17.12%;border-bottom:3px double #000000" valign="top">61,184 </td><td style="background-color:#DBE5F1" valign="top"> </td><td style="background-color:#DBE5F1;width:4.98%;border-bottom:3px double #000000" valign="top">$ </td><td style="background-color:#DBE5F1;width:20.94%;border-bottom:3px double #000000" valign="top">74,669 </td></tr> <tr><td valign="top"> </td><td style="width:4.44%;border-top:3px double #000000" valign="bottom"> </td><td style="width:17.12%;border-top:3px double #000000" valign="top"> </td><td valign="top"> </td><td style="width:4.98%;border-top:3px double #000000" valign="top"> </td><td style="width:20.94%;border-top:3px double #000000" valign="top"> </td></tr> <tr><td style="background-color:#DBE5F1" valign="top">Short-term operating lease liabilities </td><td style="background-color:#DBE5F1;width:4.44%" valign="bottom">$ </td><td style="background-color:#DBE5F1;width:17.12%" valign="top">29,070 </td><td style="background-color:#DBE5F1" valign="top"> </td><td style="background-color:#DBE5F1;width:4.98%" valign="top">$ </td><td style="background-color:#DBE5F1;width:20.94%" valign="top">27,658 </td></tr> <tr><td valign="top">Long-term operating lease liabilities </td><td style="width:4.44%;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:17.12%;border-bottom:0.5pt solid #000000" valign="top">32,114 </td><td valign="top"> </td><td style="width:4.98%;border-bottom:0.5pt solid #000000" valign="top"> </td><td style="width:20.94%;border-bottom:0.5pt solid #000000" valign="top">47,011 </td></tr> <tr><td style="background-color:#DBE5F1" valign="top">Total operating lease liabilities </td><td style="background-color:#DBE5F1;width:4.44%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">$ </td><td style="background-color:#DBE5F1;width:17.12%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top">61,184 </td><td style="background-color:#DBE5F1" valign="top"> </td><td style="background-color:#DBE5F1;width:4.98%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top">$ </td><td style="background-color:#DBE5F1;width:20.94%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top">74,669 </td></tr> </table> Maturities of the Company’s undiscounted operating lease liabilities are as follows: Schedule of Maturities Undiscounted Operating Lease Liabilities <table style="margin:0 auto;border-collapse:collapse;width:75%"><tr><td style="width:239.45pt" valign="bottom">Year Ending </td><td colspan="2" style="width:111.55pt;border-bottom:0.5pt solid #000000" valign="bottom">Operating Lease </td></tr> <tr><td style="background-color:#DBE5F1;width:239.45pt" valign="middle">2026 </td><td style="background-color:#DBE5F1;width:18.7pt;border-top:0.5pt solid #000000" valign="middle">$ </td><td style="background-color:#DBE5F1;width:92.85pt;border-top:0.5pt solid #000000" valign="top">16,800 </td></tr> <tr><td style="width:239.45pt" valign="middle">2027 </td><td style="width:18.7pt" valign="middle"> </td><td style="width:92.85pt" valign="top">33,600 </td></tr> <tr><td style="background-color:#DBE5F1;width:239.45pt" valign="middle">2028 </td><td style="background-color:#DBE5F1;width:18.7pt;border-bottom:0.5pt solid #000000" valign="middle"> </td><td style="background-color:#DBE5F1;width:92.85pt;border-bottom:0.5pt solid #000000" valign="top">16,800 </td></tr> <tr><td style="width:239.45pt" valign="middle">Total lease payments </td><td style="width:18.7pt;border-top:0.5pt solid #000000" valign="middle"> </td><td style="width:92.85pt;border-top:0.5pt solid #000000" valign="top">67,200 </td></tr> <tr><td style="background-color:#DBE5F1;width:239.45pt" valign="middle">Less: Imputed interest/present value discount </td><td style="background-color:#DBE5F1;width:18.7pt;border-bottom:0.5pt solid #000000" valign="middle"> </td><td style="background-color:#DBE5F1;width:92.85pt;border-bottom:0.5pt solid #000000" valign="top">(6,016) </td></tr> <tr><td style="width:239.45pt" valign="middle">Present value of lease liabilities </td><td style="width:18.7pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="middle">$ </td><td style="width:92.85pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top">61,184 </td></tr> </table> The Company made cash payments of $0 and $0 for the three months ended June 30, 2026 and 2025, respectively for this lease. The Company incurred rent expense of $16,800 and $0 for the six months ended June 30, 2026 and 2025, respectively. Loss per share of common stock Loss per common share (basic and diluted) is computed by dividing the net loss by the weighted average number of shares of common stock outstanding during the period. Common stock equivalents are excluded from the computation of diluted loss per share when their effect is anti-dilutive. Diluted loss per share and the weighted average number of shares of common stock exclude 14,654,142 and 13,536,452 potentially convertible debenture shares at June 30, 2026 and 2025, respectively, since their effect is anti-dilutive. Income taxes Income taxes are computed in accordance with the provisions of ASC 740, Income Taxes, which requires, among other things, a liability approach to calculating deferred income taxes. The Company recognizes deferred tax liabilities and assets for the expected future tax consequences of events that have been recognized in its financial statements or tax returns. Under this method, deferred tax liabilities and assets are determined based on the difference between the financial statement carrying amounts and tax bases of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse. The Company is required to make certain estimates and judgments about the application of tax law, the expected resolution of uncertain tax positions and other matters. In the event that uncertain tax positions are resolved for amounts different than the Company’s estimates, or the related statutes of limitations expire without the assessment of additional income taxes, the Company will be required to adjust the amounts of the related assets and liabilities in the period in which such events occur. Such adjustments may have a material impact on the Company’s income tax provision and results of operations.

Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reporting period. Actual results could differ from those estimates. Significant estimates include amounts for useful lives of patents, trademarks, and software and website development costs.

Allowance for doubtful accounts The Company extends unsecured credit to its customers in the ordinary course of business but mitigates the associated credit risk by performing credit checks and actively pursuing past due accounts. An allowance for doubtful accounts is estimated and recorded based on management’s assessment of the credit history with the customer and the current relationships with them. The Company has no accounts receivable or allowance for doubtful accounts as of June 30, 2026 or December 31, 2025.

Intangible assets Patents and trademarks are measured at cost. Legal fees associated with patents and trademarks, which are expected to be issued, are recorded as patents and trademarks on the balance sheets. Upon approval by the relevant patent office, the patents and trademarks are amortized over their respective expected lives. Patent and trademark costs associated with patents or trademarks which are not approved or are abandoned, are expensed in the period in which such patents are not approved. The Company expects to maintain patents for up to 20 years from the effective date and the trademark registrations for as long as the trademarks remain in use and the required filings are made to keep them in use. However, based on the Company’s assessment of potential innovation or other competing technological developments a useful life of ten years has been assessed for both the patents and the trademarks. Software consists of costs relating to the development of the software behind the biometric scanning and the other security programs involved in the wallets. Costs relating to the development of this software are capitalized and amortized over its estimated useful life of ten years. Website development costs relating to website and mobile application and software development are also capitalized and amortized over its estimated useful life of three years. ASC 350-20, Goodwill, and 350-30, General Intangibles Other than Goodwill, require intangible assets with a finite life be tested for impairment whenever events or circumstances indicate that the carrying amount of an asset (or asset group) may not be recoverable. An impairment loss would be recognized when the carrying amount of an asset exceeds the estimated discounted cash flow used in determining the fair value of the asset.

Fair value of financial instruments ASC 820 defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. Included in the ASC 820 framework is a three level valuation inputs hierarchy with Level 1 being inputs and transactions that can be effectively fully observed by market participants spanning to Level 3 where estimates are unobservable by market participants outside of the Company and must be estimated using assumptions developed by the Company. The Company discloses the lowest level input significant to each category of asset or liability valued within the scope of ASC 820 and the valuation method as exchange, income or use. The Company uses inputs which are as observable as possible and the methods most applicable to the specific situation of each company or valued item. The carrying amounts of cash, accounts payable, accrued liabilities, due to related party and convertible debentures approximate fair value because of their short-term nature. Per ASC 820 framework these are considered Level 3 inputs where inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Interest rate risk is the risk that the value of a financial instrument might be adversely affected by a change in the interest rates. The bank indebtedness has a variable interest rate, which results in an exposure to interest rate risk resulting from an increase in rates. In seeking to minimize the risks from interest rate fluctuations, the Company manages exposure through its normal operating and financing activities. All other liabilities are non-interest bearing.

Revenue recognition The Company plans to derive revenue from the sale of its wallets and consulting services provided to other companies in the smart wallet market. The Company earned $0 and $0 in consulting during the six months ended June 30, 2026 and 2025, respectively. The Company also plans to derive an insignificant amount of revenue from providing engraving of the wallets. Engraving revenues will be recognized concurrent with the revenues for the related wallet. Revenue is recognized in accordance with ASC 606, Revenue from Contracts with Customers. The Company performs the following five steps: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract, and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The Company applies the five-step model to arrangements that meet the definition of a contract under ASC 606, including when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company evaluates the goods or services promised within each contract related performance obligation and assesses whether each promised good or service is distinct. The Company recognizes as revenue, the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied.

Concentrations of credit risk The Company’s cash balances are maintained in bank accounts in the United States. Deposits held in banks in the United States are insured up to $250,000 per depositor for each bank by the Federal Deposit Insurance Corporation. Actual balances at times may exceed these limits.

250000

Business Segments The Company operates in one segment and therefore segment information is not presented. The Company’s chief operating decision maker (“CODM”) is its chief executive officer, who reviews financial information presented on a consolidated basis. The CODM uses consolidated operating margin and net income (loss) to assess financial performance and allocate resources. These financial metrics are used by the CODM to make key operating decisions.

Operating Lease On July 1, 2025, the Company entered into an office lease (the “Lease”) with Steven Cabouli (the “Lessor”), through which the Company leased office space in San Diego, California for a three-year term. The rent is $2,800 monthly. The Lease contains standard other provisions and includes a mutual indemnification clause which requires that the parties indemnify each other except in the case of gross negligence or willful misconduct. The supplemental balance sheet information related to the operating lease for the periods is as follows: Schedule of Balance Sheet Operating Lease <table style="margin:0 auto;border-collapse:collapse;width:85%"><tr><td valign="top"></td><td colspan="2" style="border-bottom:0.5pt solid #000000" valign="bottom">June 30, 2026 </td><td valign="bottom"> </td><td colspan="2" style="width:25.9%;border-bottom:0.5pt solid #000000" valign="bottom">December 31, 2025 </td></tr> <tr><td valign="top">Operating lease </td><td style="width:4.44%;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:17.12%;border-top:0.5pt solid #000000" valign="bottom"> </td><td valign="bottom"> </td><td style="width:4.98%;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:20.94%;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="background-color:#DBE5F1" valign="top">Long-term right-of-use assets </td><td style="background-color:#DBE5F1;width:4.44%;border-bottom:3px double #000000" valign="bottom">$ </td><td style="background-color:#DBE5F1;width:17.12%;border-bottom:3px double #000000" valign="top">61,184 </td><td style="background-color:#DBE5F1" valign="top"> </td><td style="background-color:#DBE5F1;width:4.98%;border-bottom:3px double #000000" valign="top">$ </td><td style="background-color:#DBE5F1;width:20.94%;border-bottom:3px double #000000" valign="top">74,669 </td></tr> <tr><td valign="top"> </td><td style="width:4.44%;border-top:3px double #000000" valign="bottom"> </td><td style="width:17.12%;border-top:3px double #000000" valign="top"> </td><td valign="top"> </td><td style="width:4.98%;border-top:3px double #000000" valign="top"> </td><td style="width:20.94%;border-top:3px double #000000" valign="top"> </td></tr> <tr><td style="background-color:#DBE5F1" valign="top">Short-term operating lease liabilities </td><td style="background-color:#DBE5F1;width:4.44%" valign="bottom">$ </td><td style="background-color:#DBE5F1;width:17.12%" valign="top">29,070 </td><td style="background-color:#DBE5F1" valign="top"> </td><td style="background-color:#DBE5F1;width:4.98%" valign="top">$ </td><td style="background-color:#DBE5F1;width:20.94%" valign="top">27,658 </td></tr> <tr><td valign="top">Long-term operating lease liabilities </td><td style="width:4.44%;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:17.12%;border-bottom:0.5pt solid #000000" valign="top">32,114 </td><td valign="top"> </td><td style="width:4.98%;border-bottom:0.5pt solid #000000" valign="top"> </td><td style="width:20.94%;border-bottom:0.5pt solid #000000" valign="top">47,011 </td></tr> <tr><td style="background-color:#DBE5F1" valign="top">Total operating lease liabilities </td><td style="background-color:#DBE5F1;width:4.44%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">$ </td><td style="background-color:#DBE5F1;width:17.12%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top">61,184 </td><td style="background-color:#DBE5F1" valign="top"> </td><td style="background-color:#DBE5F1;width:4.98%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top">$ </td><td style="background-color:#DBE5F1;width:20.94%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top">74,669 </td></tr> </table> Maturities of the Company’s undiscounted operating lease liabilities are as follows: Schedule of Maturities Undiscounted Operating Lease Liabilities <table style="margin:0 auto;border-collapse:collapse;width:75%"><tr><td style="width:239.45pt" valign="bottom">Year Ending </td><td colspan="2" style="width:111.55pt;border-bottom:0.5pt solid #000000" valign="bottom">Operating Lease </td></tr> <tr><td style="background-color:#DBE5F1;width:239.45pt" valign="middle">2026 </td><td style="background-color:#DBE5F1;width:18.7pt;border-top:0.5pt solid #000000" valign="middle">$ </td><td style="background-color:#DBE5F1;width:92.85pt;border-top:0.5pt solid #000000" valign="top">16,800 </td></tr> <tr><td style="width:239.45pt" valign="middle">2027 </td><td style="width:18.7pt" valign="middle"> </td><td style="width:92.85pt" valign="top">33,600 </td></tr> <tr><td style="background-color:#DBE5F1;width:239.45pt" valign="middle">2028 </td><td style="background-color:#DBE5F1;width:18.7pt;border-bottom:0.5pt solid #000000" valign="middle"> </td><td style="background-color:#DBE5F1;width:92.85pt;border-bottom:0.5pt solid #000000" valign="top">16,800 </td></tr> <tr><td style="width:239.45pt" valign="middle">Total lease payments </td><td style="width:18.7pt;border-top:0.5pt solid #000000" valign="middle"> </td><td style="width:92.85pt;border-top:0.5pt solid #000000" valign="top">67,200 </td></tr> <tr><td style="background-color:#DBE5F1;width:239.45pt" valign="middle">Less: Imputed interest/present value discount </td><td style="background-color:#DBE5F1;width:18.7pt;border-bottom:0.5pt solid #000000" valign="middle"> </td><td style="background-color:#DBE5F1;width:92.85pt;border-bottom:0.5pt solid #000000" valign="top">(6,016) </td></tr> <tr><td style="width:239.45pt" valign="middle">Present value of lease liabilities </td><td style="width:18.7pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="middle">$ </td><td style="width:92.85pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top">61,184 </td></tr> </table> The Company made cash payments of $0 and $0 for the three months ended June 30, 2026 and 2025, respectively for this lease. The Company incurred rent expense of $16,800 and $0 for the six months ended June 30, 2026 and 2025, respectively.

<table style="margin:0 auto;border-collapse:collapse;width:85%"><tr><td valign="top"></td><td colspan="2" style="border-bottom:0.5pt solid #000000" valign="bottom">June 30, 2026 </td><td valign="bottom"> </td><td colspan="2" style="width:25.9%;border-bottom:0.5pt solid #000000" valign="bottom">December 31, 2025 </td></tr> <tr><td valign="top">Operating lease </td><td style="width:4.44%;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:17.12%;border-top:0.5pt solid #000000" valign="bottom"> </td><td valign="bottom"> </td><td style="width:4.98%;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:20.94%;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="background-color:#DBE5F1" valign="top">Long-term right-of-use assets </td><td style="background-color:#DBE5F1;width:4.44%;border-bottom:3px double #000000" valign="bottom">$ </td><td style="background-color:#DBE5F1;width:17.12%;border-bottom:3px double #000000" valign="top">61,184 </td><td style="background-color:#DBE5F1" valign="top"> </td><td style="background-color:#DBE5F1;width:4.98%;border-bottom:3px double #000000" valign="top">$ </td><td style="background-color:#DBE5F1;width:20.94%;border-bottom:3px double #000000" valign="top">74,669 </td></tr> <tr><td valign="top"> </td><td style="width:4.44%;border-top:3px double #000000" valign="bottom"> </td><td style="width:17.12%;border-top:3px double #000000" valign="top"> </td><td valign="top"> </td><td style="width:4.98%;border-top:3px double #000000" valign="top"> </td><td style="width:20.94%;border-top:3px double #000000" valign="top"> </td></tr> <tr><td style="background-color:#DBE5F1" valign="top">Short-term operating lease liabilities </td><td style="background-color:#DBE5F1;width:4.44%" valign="bottom">$ </td><td style="background-color:#DBE5F1;width:17.12%" valign="top">29,070 </td><td style="background-color:#DBE5F1" valign="top"> </td><td style="background-color:#DBE5F1;width:4.98%" valign="top">$ </td><td style="background-color:#DBE5F1;width:20.94%" valign="top">27,658 </td></tr> <tr><td valign="top">Long-term operating lease liabilities </td><td style="width:4.44%;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:17.12%;border-bottom:0.5pt solid #000000" valign="top">32,114 </td><td valign="top"> </td><td style="width:4.98%;border-bottom:0.5pt solid #000000" valign="top"> </td><td style="width:20.94%;border-bottom:0.5pt solid #000000" valign="top">47,011 </td></tr> <tr><td style="background-color:#DBE5F1" valign="top">Total operating lease liabilities </td><td style="background-color:#DBE5F1;width:4.44%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">$ </td><td style="background-color:#DBE5F1;width:17.12%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top">61,184 </td><td style="background-color:#DBE5F1" valign="top"> </td><td style="background-color:#DBE5F1;width:4.98%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top">$ </td><td style="background-color:#DBE5F1;width:20.94%;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top">74,669 </td></tr> </table>

61184

74669

29070

27658

32114

47011

61184

74669

<table style="margin:0 auto;border-collapse:collapse;width:75%"><tr><td style="width:239.45pt" valign="bottom">Year Ending </td><td colspan="2" style="width:111.55pt;border-bottom:0.5pt solid #000000" valign="bottom">Operating Lease </td></tr> <tr><td style="background-color:#DBE5F1;width:239.45pt" valign="middle">2026 </td><td style="background-color:#DBE5F1;width:18.7pt;border-top:0.5pt solid #000000" valign="middle">$ </td><td style="background-color:#DBE5F1;width:92.85pt;border-top:0.5pt solid #000000" valign="top">16,800 </td></tr> <tr><td style="width:239.45pt" valign="middle">2027 </td><td style="width:18.7pt" valign="middle"> </td><td style="width:92.85pt" valign="top">33,600 </td></tr> <tr><td style="background-color:#DBE5F1;width:239.45pt" valign="middle">2028 </td><td style="background-color:#DBE5F1;width:18.7pt;border-bottom:0.5pt solid #000000" valign="middle"> </td><td style="background-color:#DBE5F1;width:92.85pt;border-bottom:0.5pt solid #000000" valign="top">16,800 </td></tr> <tr><td style="width:239.45pt" valign="middle">Total lease payments </td><td style="width:18.7pt;border-top:0.5pt solid #000000" valign="middle"> </td><td style="width:92.85pt;border-top:0.5pt solid #000000" valign="top">67,200 </td></tr> <tr><td style="background-color:#DBE5F1;width:239.45pt" valign="middle">Less: Imputed interest/present value discount </td><td style="background-color:#DBE5F1;width:18.7pt;border-bottom:0.5pt solid #000000" valign="middle"> </td><td style="background-color:#DBE5F1;width:92.85pt;border-bottom:0.5pt solid #000000" valign="top">(6,016) </td></tr> <tr><td style="width:239.45pt" valign="middle">Present value of lease liabilities </td><td style="width:18.7pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="middle">$ </td><td style="width:92.85pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top">61,184 </td></tr> </table>

16800

33600

16800

67200

6016

61184

16800

Loss per share of common stock Loss per common share (basic and diluted) is computed by dividing the net loss by the weighted average number of shares of common stock outstanding during the period. Common stock equivalents are excluded from the computation of diluted loss per share when their effect is anti-dilutive. Diluted loss per share and the weighted average number of shares of common stock exclude 14,654,142 and 13,536,452 potentially convertible debenture shares at June 30, 2026 and 2025, respectively, since their effect is anti-dilutive.

14654142

13536452

Income taxes Income taxes are computed in accordance with the provisions of ASC 740, Income Taxes, which requires, among other things, a liability approach to calculating deferred income taxes. The Company recognizes deferred tax liabilities and assets for the expected future tax consequences of events that have been recognized in its financial statements or tax returns. Under this method, deferred tax liabilities and assets are determined based on the difference between the financial statement carrying amounts and tax bases of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse. The Company is required to make certain estimates and judgments about the application of tax law, the expected resolution of uncertain tax positions and other matters. In the event that uncertain tax positions are resolved for amounts different than the Company’s estimates, or the related statutes of limitations expire without the assessment of additional income taxes, the Company will be required to adjust the amounts of the related assets and liabilities in the period in which such events occur. Such adjustments may have a material impact on the Company’s income tax provision and results of operations.

3. Recently Issued Accounting Standards and Recently Adopted Accounting Pronouncement From time to time, new accounting pronouncements are issued by FASB that are adopted by the Company as of the specified effective date. If not discussed, management believes that the impact of recently issued standards, which are not yet effective, will not have a material impact on the Company’s financial statements upon adoption.

4. Related Party Transactions and Balances <table style="margin:0 auto;border-collapse:collapse;width:80%"><tr><td style="width:120.7pt" valign="top"></td><td colspan="2" style="width:117.3pt;border-bottom:0.5pt solid #000000" valign="bottom">June 30, 2026 </td><td style="width:19.1pt" valign="bottom"> </td><td colspan="2" style="width:117.3pt;border-bottom:0.5pt solid #000000" valign="bottom">December 31, 2025 </td></tr> <tr><td style="width:120.7pt" valign="top">Current Liabilities </td><td style="width:25.25pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:92.05pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:19.1pt" valign="bottom"> </td><td style="width:25.25pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:92.05pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="background-color:#DBE5F1;width:120.7pt" valign="top">Due to Related Party </td><td style="background-color:#DBE5F1;width:25.25pt" valign="bottom">$ </td><td style="background-color:#DBE5F1;width:92.05pt" valign="top">15,033 </td><td style="background-color:#DBE5F1;width:19.1pt" valign="top"> </td><td style="background-color:#DBE5F1;width:25.25pt" valign="top">$ </td><td style="background-color:#DBE5F1;width:92.05pt" valign="top">14,406 </td></tr> </table> The above balances are non-interest bearing, unsecured and due on demand. The related party is affiliated by virtue of common ownership. Steve Cabouli, CEO and sole director of the Company, has been providing storage and office space for the Company. Beginning July 1, 2025, the Company began accruing monthly rent expense for this space at $2,800 per month. As of June 30, 2026, there is $39,200 accrued in accounts payable for rent.

<table style="margin:0 auto;border-collapse:collapse;width:80%"><tr><td style="width:120.7pt" valign="top"></td><td colspan="2" style="width:117.3pt;border-bottom:0.5pt solid #000000" valign="bottom">June 30, 2026 </td><td style="width:19.1pt" valign="bottom"> </td><td colspan="2" style="width:117.3pt;border-bottom:0.5pt solid #000000" valign="bottom">December 31, 2025 </td></tr> <tr><td style="width:120.7pt" valign="top">Current Liabilities </td><td style="width:25.25pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:92.05pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:19.1pt" valign="bottom"> </td><td style="width:25.25pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:92.05pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="background-color:#DBE5F1;width:120.7pt" valign="top">Due to Related Party </td><td style="background-color:#DBE5F1;width:25.25pt" valign="bottom">$ </td><td style="background-color:#DBE5F1;width:92.05pt" valign="top">15,033 </td><td style="background-color:#DBE5F1;width:19.1pt" valign="top"> </td><td style="background-color:#DBE5F1;width:25.25pt" valign="top">$ </td><td style="background-color:#DBE5F1;width:92.05pt" valign="top">14,406 </td></tr> </table>

15033

14406

2800

39200

5. Notes Payable On April 16, 2024, the Company entered into a bridge loan agreement (the “bridge loan”) with a lender amounting to $5,000. The bridge loan bears interest at 10% per annum calculated monthly and payable on maturity and had a maturity date of April 16, 2025 and is currently in default. At June 30, 2026 and December 31, 2025, the principal balance on this note was $5,000 and $5,000 and accrued interest was $1,118 and $870, respectively. On June 5, 2024, the Company entered into a bridge loan agreement (the “bridge loan”) with a lender amounting to $6,000. The bridge loan bears interest at 10% per annum calculated monthly and payable on maturity and had a maturity date of June 5, 2025. At June 30, 2026 and December 31, 2025, the principal balance on this note was $6,000 and $6,000 and accrued interest was $1,241 and $944, respectively. On December 18, 2024, the Company entered into a bridge loan agreement (the “bridge loan”) with a lender amounting to $10,000. The bridge loan bears interest at 10% per annum calculated monthly and payable on maturity and had a maturity date of December 18, 2025. At June 30, 2026 and December 31, 2025, the principal balance on this note was $10,000 and $10,000 and accrued interest was $1,532 and $1,036, respectively. On April 29, 2025, the Company entered into a bridge loan agreement (the “bridge loan”) with a lender amounting to $5,800. The bridge loan bears interest at 10% per annum calculated monthly and payable on maturity and had a maturity date of April 29, 2026. At June 30, 2026 and December 31, 2025, the principal balance on this note was $5,800 and $5,880 and accrued interest was $679 and $391, respectively. On April 29, 2025, the Company entered into a bridge loan agreement (the “bridge loan”) with a lender amounting to $5,500. The bridge loan bears interest at 10% per annum calculated monthly and payable on maturity and had a maturity date of April 29, 2026. At June 30, 2026 and December 31, 2025, the principal balance on this note was $5,500 and $5,500 and accrued interest was $643 and $371, respectively. On May 29, 2025, the Company entered into a bridge loan agreement (the “bridge loan”) with a lender amounting to $500. The bridge loan bears interest at 10% per annum calculated monthly and payable on maturity and had a maturity date of May 29, 2026. At June 30, 2026 and December 31, 2025, the principal balance on this note was $500 and $500 and accrued interest was $54 and $29, respectively. On May 30, 2025, the Company entered into a bridge loan agreement (the “bridge loan”) with a lender amounting to $500. The bridge loan bears interest at 10% per annum calculated monthly and payable on maturity and had a maturity date of May 30, 2026. At June 30, 2026 and December 31, 2025, the principal balance on this note was $500 and $500 and accrued interest was $54 and $29, respectively. On June 20, 2025, the Company entered into a bridge loan agreement (the “bridge loan”) with a lender amounting to $271. The bridge loan bears interest at 10% per annum calculated monthly and payable on maturity and had a maturity date of June 20, 2026. At June 30, 2026 and December 31, 2025, the principal balance on this note was $271 and $271 and accrued interest was $28 and $14, respectively. On July 22, 2025, the Company entered into a bridge loan agreement (the “bridge loan”) with a lender amounting to $4,350. The bridge loan bears interest at 10% per annum calculated monthly and payable on maturity and had a maturity date of July 22, 2026. At June 30, 2026 and December 31, 2025, the principal balance on this note was $4,350 and $4,350 and accrued interest was $409 and $193, respectively. On July 23, 2025, the Company entered into a bridge loan agreement (the “bridge loan”) with a lender amounting to $4,350. The bridge loan bears interest at 10% per annum calculated monthly and payable on maturity and had a maturity date of July 23, 2026. At June 30, 2026 and December 31, 2025, the principal balance on this note was $4,350 and $4,350 and accrued interest was $408 and $192, respectively. On August 11, 2025, the Company entered into a bridge loan agreement (the “bridge loan”) with a lender amounting to $1,000. The bridge loan bears interest at 10% per annum calculated monthly and payable on maturity and had a maturity date of August 11, 2026. At June 30, 2026 and December 31, 2025, the principal balance on this note was $1,000 and $1,000 and accrued interest was $88 and $39, respectively. On August 12, 2025, the Company entered into a bridge loan agreement (the “bridge loan”) with a lender amounting to $1,000. The bridge loan bears interest at 10% per annum calculated monthly and payable on maturity and had a maturity date of August 12, 2026. At June 30, 2026 and December 31, 2025, the principal balance on this note was $1,000 and $1,000 and accrued interest was $88 and $39, respectively. On November 7, 2025, the Company entered into a bridge loan agreement (the “bridge loan”) with a lender amounting to $1,000. The bridge loan bears interest at 10% per annum calculated monthly and payable on maturity and had a maturity date of November 7, 2026. At June 30, 2026 and December 31, 2025, the principal balance on this note was $1,000 and $1,000 and accrued interest was $64 and $15, respectively. On November 7, 2025, the Company entered into a bridge loan agreement (the “bridge loan”) with a lender amounting to $1,000. The bridge loan bears interest at 10% per annum calculated monthly and payable on maturity and had a maturity date of November 7, 2026. At June 30, 2026 and December 31, 2025, the principal balance on this note was $1,000 and $1,000 and accrued interest was $64 and $15, respectively. On March 26, 2026, a noteholder paid a legal bill of $5,228 on behalf of the Company and added the balance to their bridge loan. The bridge loan bears interest at 10% per annum calculated monthly and payable on maturity and had a maturity date of March 26, 2027. At June 30, 2026 and December 31, 2025, the principal balance on this note was $5,228 and $0 and accrued interest was $138 and $0, respectively.

5000

0.10

5000

1118

870

6000

0.10

6000

1241

944

10000

0.10

10000

1532

1036

5800

0.10

5800

5880

679

391

5500

0.10

5500

643

371

500

0.10

500

0.10

500

271

0.10

271

4350

0.10

4350

409

193

4350

0.10

4350

408

192

1000

0.10

1000

0.10

1000

0.10

1000

0.10

1000

5228

0.10

5228

138

6. Convertible Debentures Convertible Debentures (Ontario) In fiscal 2015, the Company issued two tranches, one in April and one in September, of secured convertible debentures with identical terms and maturity dates (together, “the Debentures”) for gross proceeds of $492,500. The Company incurred $39,400 in broker’s commissions resulting in net proceeds of $453,100. The Debentures bear interest at a rate of 8% per annum, with interest payments due semi-annually. The Debentures matured on April 30, 2017, and are currently in default. The debentures became immediately due and payable in default at the request of the note holders. However, the note holders have not made any request for immediate payment. There are no additional terms in the event of default. The Debentures are convertible at any time, in whole, to shares of common stock at a conversion price of $0.15 per share. On July 7, 2023, the Company negotiated settlement of six of its noteholders in exchange for preferred shares of the Company’s stock. In accordance with the agreement, there was 7,644,000 shares of preferred shares issued for settlement of $252,500 principal and $205,986 in accrued interest. At June 30, 2026 and December 31, 2025, the principal balance on these notes was $240,000 and $240,000 and accrued interest was $338,712 and $316,119, respectively. The conversion feature was determined to be an embedded derivative; however, since the instrument is a conventional convertible debenture the conversion feature was not bifurcated. Additionally, the conversion feature was determined not to be beneficial in both tranches as the fair value of the Company’s share price at the date of issuance was less than the conversion price. Accordingly, no proceeds were allocated to the value of the conversion feature on initial recognition. Ontario Limitation Period and Enforceability - Each of these debentures was issued in Ontario to an Ontario resident, is payable in Ontario, and stipulates Ontario law as its governing law. The Company has obtained a written opinion of Ontario counsel that the two-year limitation period under the Limitations Act, 2002 (Ontario) expired on April 30, 2025, that the debentures are no longer enforceable against the Company, and that no proceeding could be brought on the related security interests. The opinion has been added to the exhibits (see exhibit 99.1). Other Convertible Debentures On August 13, 2018, the Company entered into a secured convertible debenture agreement (the “convertible debenture”) with a service provider amounting to $12,000. The convertible debenture bears interest at 10% per annum calculated monthly and payable on maturity and had a maturity date of August 13, 2021. The debentures became immediately due and payable in default at the request of the note holders. However, the note holders have not made any request for immediate payment. There are no additional terms in the event of default. The conversion price is $0.06 per share. At June 30, 2026 and December 31, 2025, the principal balance on these notes was $12,000 and $12,000 and accrued interest was $9,462 and $8,867, respectively. On August 10, 2023, the Company entered into a secured convertible debenture agreement (the “convertible debenture”) with a service provider amounting to $10,000. The convertible debenture bears interest at 10% per annum calculated monthly and payable on maturity and had a maturity date of August 10, 2024. The conversion price is $0.001 per share. On March 20, 2024, the Company issued 2,000,000 shares of common stock for the conversion of $2,000 of this principal balance outstanding. The 2,000,000 shares of common stock were valued at $0.15 per share for a value of $30,000. The Company recognized a loss on the extinguishment of debt of $28,000. At June 30, 2026 and December 31, 2025, the principal balance on this note was $8,000 and $8,000 and accrued interest was $2,438 and $2,042, respectively.

492500

39400

453100

0.08

0.15

7644000

252500

205986

240000

338712

316119

12000

0.10

0.06

12000

9462

8867

10000

0.10

0.001

2000000

2000

0.15

30000

-28000

8000

2438

2042

7. Common Share Capital The Company is authorized to issue 150,000,000 shares of Common Stock with a par value of $0.001 and had 106,419,419 and 106,419,419 shares of Common Stock issued and outstanding as of June 30, 2026 and December 31, 2025, respectively.

150000000

0.001

106419419

8. Preferred Share Capital The Company is authorized to issue 20,000,000 shares of Preferred Stock with a par value of $0.001 and had 7,644,000 shares of Preferred Stock issued and outstanding as of June 30, 2026 and December 31, 2025. The Preferred Stock converts to common at a 1:1 ratio and has a “Leak Out Provision” that limits the shareholder from selling more than 12.5% of their shares per quarter.

20000000

0.001

7644000

converts to common at a 1:1 ratio and has a “Leak Out Provision” that limits the shareholder from selling more than 12.5% of their shares per quarter

9. Income Taxes The Company accounts for U.S. income taxes under FASB Codification Topic 740-10-25 (“ASC 740-10-25”). Under ASC 740-10-25, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740-10-25, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The provision for income tax expense (recovery) is comprised the following amounts: Schedule of Provision for Income Tax Expense Recovery <table style="margin:0 auto;border-collapse:collapse;width:99%"><tr><td style="width:186.3pt" valign="top"> </td><td colspan="3" style="width:130.95pt;border-bottom:0.5pt solid #000000" valign="bottom">June 30, 2026 </td><td style="width:16.8pt" valign="bottom"> </td><td colspan="3" style="width:129.25pt;border-bottom:0.5pt solid #000000" valign="bottom">December 31, 2025 </td></tr> <tr><td style="background-color:#DBE5F1;width:186.3pt" valign="top">Federal tax benefit at the statutory rate </td><td style="background-color:#DBE5F1;width:17.7pt;border-top:0.5pt solid #000000" valign="bottom">$ </td><td style="background-color:#DBE5F1;width:62.9pt;border-top:0.5pt solid #000000" valign="top">(13,382) </td><td style="background-color:#DBE5F1;width:50.35pt;border-top:0.5pt solid #000000" valign="top">21.00% </td><td style="background-color:#DBE5F1;width:16.8pt" valign="bottom"> </td><td style="background-color:#DBE5F1;width:17.7pt;border-top:0.5pt solid #000000" valign="bottom">$ </td><td style="background-color:#DBE5F1;width:59.8pt;border-top:0.5pt solid #000000" valign="bottom">(231,571) </td><td style="background-color:#DBE5F1;width:51.75pt;border-top:0.5pt solid #000000" valign="bottom">21.00% </td></tr> <tr><td style="width:186.3pt" valign="top">State tax benefit, net of federal income tax benefit </td><td style="width:17.7pt" valign="bottom"> </td><td style="width:62.9pt" valign="top">(3,664) </td><td style="width:50.35pt" valign="top">5.75% </td><td style="width:16.8pt" valign="bottom"> </td><td style="width:17.7pt" valign="bottom"> </td><td style="width:59.8pt" valign="bottom">(63,406) </td><td style="width:51.75pt" valign="bottom">5.75% </td></tr> <tr><td style="background-color:#DBE5F1;width:186.3pt" valign="top">Unallowed deductions </td><td style="background-color:#DBE5F1;width:17.7pt" valign="bottom"> </td><td style="background-color:#DBE5F1;width:62.9pt" valign="top">- </td><td style="background-color:#DBE5F1;width:50.35pt" valign="top">0.00% </td><td style="background-color:#DBE5F1;width:16.8pt" valign="bottom"> </td><td style="background-color:#DBE5F1;width:17.7pt" valign="bottom"> </td><td style="background-color:#DBE5F1;width:59.8pt" valign="bottom">9 </td><td style="background-color:#DBE5F1;width:51.75pt" valign="bottom">0.00% </td></tr> <tr><td style="width:186.3pt" valign="top">Gain (loss) on settlement of debt </td><td style="width:17.7pt" valign="bottom"> </td><td style="width:62.9pt" valign="top">- </td><td style="width:50.35pt" valign="top">0.00% </td><td style="width:16.8pt" valign="bottom"> </td><td style="width:17.7pt" valign="bottom"> </td><td style="width:59.8pt" valign="bottom">(36,275) </td><td style="width:51.75pt" valign="bottom">3.29% </td></tr> <tr><td style="background-color:#DBE5F1;width:186.3pt" valign="top">Accrued interest expense </td><td style="background-color:#DBE5F1;width:17.7pt" valign="bottom"> </td><td style="background-color:#DBE5F1;width:62.9pt" valign="top">6,960 </td><td style="background-color:#DBE5F1;width:50.35pt" valign="top">-10.92% </td><td style="background-color:#DBE5F1;width:16.8pt" valign="bottom"> </td><td style="background-color:#DBE5F1;width:17.7pt" valign="bottom"> </td><td style="background-color:#DBE5F1;width:59.8pt" valign="bottom">12,930 </td><td style="background-color:#DBE5F1;width:51.75pt" valign="bottom">-1.17% </td></tr> <tr><td style="width:186.3pt" valign="top">Change in valuation allowance </td><td style="width:17.7pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:62.9pt;border-bottom:0.5pt solid #000000" valign="top">10,086 </td><td style="width:50.35pt" valign="top">-15.83% </td><td style="width:16.8pt" valign="bottom"> </td><td style="width:17.7pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:59.8pt;border-bottom:0.5pt solid #000000" valign="bottom">318,313 </td><td style="width:51.75pt" valign="bottom">-28.87% </td></tr> <tr><td style="background-color:#DBE5F1;width:186.3pt" valign="top">Total </td><td style="background-color:#DBE5F1;width:17.7pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">$ </td><td style="background-color:#DBE5F1;width:62.9pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top">- </td><td style="background-color:#DBE5F1;width:50.35pt" valign="bottom"> </td><td style="background-color:#DBE5F1;width:16.8pt" valign="bottom"> </td><td style="background-color:#DBE5F1;width:17.7pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">$ </td><td style="background-color:#DBE5F1;width:59.8pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">- </td><td style="background-color:#DBE5F1;width:51.75pt" valign="bottom"> </td></tr> </table> The components of deferred income tax in the accompanying balance sheets are as follows: Schedule of Components of Deferred Income Tax <table style="margin:0 auto;border-collapse:collapse;width:99%"><tr><td style="width:227.65pt" valign="top"> </td><td colspan="2" style="width:109.4pt;border-bottom:0.5pt solid #000000" valign="bottom">June 30, 2026 </td><td style="width:16.85pt" valign="bottom"> </td><td colspan="2" style="width:109.4pt;border-bottom:0.5pt solid #000000" valign="bottom">December 31, 2025 </td></tr> <tr><td style="background-color:#DBE5F1;width:227.65pt" valign="top">Deferred tax assets: </td><td style="background-color:#DBE5F1;width:17.75pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="background-color:#DBE5F1;width:91.65pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="background-color:#DBE5F1;width:16.85pt" valign="bottom"> </td><td style="background-color:#DBE5F1;width:17.75pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="background-color:#DBE5F1;width:91.65pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:227.65pt" valign="top">Net operating loss carryforward </td><td style="width:17.75pt" valign="bottom">$ </td><td style="width:91.65pt" valign="top">319,193 </td><td style="width:16.85pt" valign="bottom"> </td><td style="width:17.75pt" valign="bottom">$ </td><td style="width:91.65pt" valign="bottom">309,389 </td></tr> <tr><td style="background-color:#DBE5F1;width:227.65pt" valign="top">Accrued interest expense </td><td style="background-color:#DBE5F1;width:17.75pt" valign="bottom"> </td><td style="background-color:#DBE5F1;width:91.65pt" valign="top">(6,960) </td><td style="background-color:#DBE5F1;width:16.85pt" valign="bottom"> </td><td style="background-color:#DBE5F1;width:17.75pt" valign="bottom"> </td><td style="background-color:#DBE5F1;width:91.65pt" valign="bottom">(12,930) </td></tr> <tr><td style="width:227.65pt" valign="top">Total gross deferred tax assets </td><td style="width:17.75pt" valign="bottom"> </td><td style="width:91.65pt" valign="top">312,233 </td><td style="width:16.85pt" valign="bottom"> </td><td style="width:17.75pt" valign="bottom"> </td><td style="width:91.65pt" valign="bottom">296,459 </td></tr> <tr><td style="background-color:#DBE5F1;width:227.65pt" valign="top">Less: Deferred tax asset valuation allowance </td><td style="background-color:#DBE5F1;width:17.75pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="background-color:#DBE5F1;width:91.65pt;border-bottom:0.5pt solid #000000" valign="top">(312,233) </td><td style="background-color:#DBE5F1;width:16.85pt" valign="bottom"> </td><td style="background-color:#DBE5F1;width:17.75pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="background-color:#DBE5F1;width:91.65pt;border-bottom:0.5pt solid #000000" valign="bottom">(296,459) </td></tr> <tr><td style="width:227.65pt" valign="top">Total net deferred taxes </td><td style="width:17.75pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:91.65pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top">- </td><td style="width:16.85pt" valign="bottom"> </td><td style="width:17.75pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:91.65pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">- </td></tr> </table> As of June 30, 2026 and December 31, 2025, the Company had net operating loss carry-forwards for U.S. federal income tax purposes of approximately $6,817,533 and $6,779,827, respectively. These net operating loss carry-forwards will expire through the year ending 2045. The valuation allowance was established to reduce the deferred tax asset to the amount that will more likely than not be realized. This is necessary due to the Company’s continued operating losses and the uncertainty of the Company’s ability to utilize all of the net operating loss carry-forwards before they will expire through the year 2045. The Company is subject to income tax in the U.S. federal jurisdiction. The Company has not been audited by the U.S. Internal Revenue Service in connection with income taxes. The Company’s tax years beginning with the year ended December 31, 2005 through December 31, 2025 generally remain open to examination by the Internal Revenue Service until its net operating loss carry-forwards are utilized and the applicable statutes of limitation have expired.

<table style="margin:0 auto;border-collapse:collapse;width:99%"><tr><td style="width:186.3pt" valign="top"> </td><td colspan="3" style="width:130.95pt;border-bottom:0.5pt solid #000000" valign="bottom">June 30, 2026 </td><td style="width:16.8pt" valign="bottom"> </td><td colspan="3" style="width:129.25pt;border-bottom:0.5pt solid #000000" valign="bottom">December 31, 2025 </td></tr> <tr><td style="background-color:#DBE5F1;width:186.3pt" valign="top">Federal tax benefit at the statutory rate </td><td style="background-color:#DBE5F1;width:17.7pt;border-top:0.5pt solid #000000" valign="bottom">$ </td><td style="background-color:#DBE5F1;width:62.9pt;border-top:0.5pt solid #000000" valign="top">(13,382) </td><td style="background-color:#DBE5F1;width:50.35pt;border-top:0.5pt solid #000000" valign="top">21.00% </td><td style="background-color:#DBE5F1;width:16.8pt" valign="bottom"> </td><td style="background-color:#DBE5F1;width:17.7pt;border-top:0.5pt solid #000000" valign="bottom">$ </td><td style="background-color:#DBE5F1;width:59.8pt;border-top:0.5pt solid #000000" valign="bottom">(231,571) </td><td style="background-color:#DBE5F1;width:51.75pt;border-top:0.5pt solid #000000" valign="bottom">21.00% </td></tr> <tr><td style="width:186.3pt" valign="top">State tax benefit, net of federal income tax benefit </td><td style="width:17.7pt" valign="bottom"> </td><td style="width:62.9pt" valign="top">(3,664) </td><td style="width:50.35pt" valign="top">5.75% </td><td style="width:16.8pt" valign="bottom"> </td><td style="width:17.7pt" valign="bottom"> </td><td style="width:59.8pt" valign="bottom">(63,406) </td><td style="width:51.75pt" valign="bottom">5.75% </td></tr> <tr><td style="background-color:#DBE5F1;width:186.3pt" valign="top">Unallowed deductions </td><td style="background-color:#DBE5F1;width:17.7pt" valign="bottom"> </td><td style="background-color:#DBE5F1;width:62.9pt" valign="top">- </td><td style="background-color:#DBE5F1;width:50.35pt" valign="top">0.00% </td><td style="background-color:#DBE5F1;width:16.8pt" valign="bottom"> </td><td style="background-color:#DBE5F1;width:17.7pt" valign="bottom"> </td><td style="background-color:#DBE5F1;width:59.8pt" valign="bottom">9 </td><td style="background-color:#DBE5F1;width:51.75pt" valign="bottom">0.00% </td></tr> <tr><td style="width:186.3pt" valign="top">Gain (loss) on settlement of debt </td><td style="width:17.7pt" valign="bottom"> </td><td style="width:62.9pt" valign="top">- </td><td style="width:50.35pt" valign="top">0.00% </td><td style="width:16.8pt" valign="bottom"> </td><td style="width:17.7pt" valign="bottom"> </td><td style="width:59.8pt" valign="bottom">(36,275) </td><td style="width:51.75pt" valign="bottom">3.29% </td></tr> <tr><td style="background-color:#DBE5F1;width:186.3pt" valign="top">Accrued interest expense </td><td style="background-color:#DBE5F1;width:17.7pt" valign="bottom"> </td><td style="background-color:#DBE5F1;width:62.9pt" valign="top">6,960 </td><td style="background-color:#DBE5F1;width:50.35pt" valign="top">-10.92% </td><td style="background-color:#DBE5F1;width:16.8pt" valign="bottom"> </td><td style="background-color:#DBE5F1;width:17.7pt" valign="bottom"> </td><td style="background-color:#DBE5F1;width:59.8pt" valign="bottom">12,930 </td><td style="background-color:#DBE5F1;width:51.75pt" valign="bottom">-1.17% </td></tr> <tr><td style="width:186.3pt" valign="top">Change in valuation allowance </td><td style="width:17.7pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:62.9pt;border-bottom:0.5pt solid #000000" valign="top">10,086 </td><td style="width:50.35pt" valign="top">-15.83% </td><td style="width:16.8pt" valign="bottom"> </td><td style="width:17.7pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:59.8pt;border-bottom:0.5pt solid #000000" valign="bottom">318,313 </td><td style="width:51.75pt" valign="bottom">-28.87% </td></tr> <tr><td style="background-color:#DBE5F1;width:186.3pt" valign="top">Total </td><td style="background-color:#DBE5F1;width:17.7pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">$ </td><td style="background-color:#DBE5F1;width:62.9pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top">- </td><td style="background-color:#DBE5F1;width:50.35pt" valign="bottom"> </td><td style="background-color:#DBE5F1;width:16.8pt" valign="bottom"> </td><td style="background-color:#DBE5F1;width:17.7pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">$ </td><td style="background-color:#DBE5F1;width:59.8pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">- </td><td style="background-color:#DBE5F1;width:51.75pt" valign="bottom"> </td></tr> </table>

13382

0.21

231571

0.21

3664

0.0575

63406

0.0575

36275

0.0329

6960 0.1092 12930 0.0117

10086

0.1583

318313

0.2887

<table style="margin:0 auto;border-collapse:collapse;width:99%"><tr><td style="width:227.65pt" valign="top"> </td><td colspan="2" style="width:109.4pt;border-bottom:0.5pt solid #000000" valign="bottom">June 30, 2026 </td><td style="width:16.85pt" valign="bottom"> </td><td colspan="2" style="width:109.4pt;border-bottom:0.5pt solid #000000" valign="bottom">December 31, 2025 </td></tr> <tr><td style="background-color:#DBE5F1;width:227.65pt" valign="top">Deferred tax assets: </td><td style="background-color:#DBE5F1;width:17.75pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="background-color:#DBE5F1;width:91.65pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="background-color:#DBE5F1;width:16.85pt" valign="bottom"> </td><td style="background-color:#DBE5F1;width:17.75pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="background-color:#DBE5F1;width:91.65pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:227.65pt" valign="top">Net operating loss carryforward </td><td style="width:17.75pt" valign="bottom">$ </td><td style="width:91.65pt" valign="top">319,193 </td><td style="width:16.85pt" valign="bottom"> </td><td style="width:17.75pt" valign="bottom">$ </td><td style="width:91.65pt" valign="bottom">309,389 </td></tr> <tr><td style="background-color:#DBE5F1;width:227.65pt" valign="top">Accrued interest expense </td><td style="background-color:#DBE5F1;width:17.75pt" valign="bottom"> </td><td style="background-color:#DBE5F1;width:91.65pt" valign="top">(6,960) </td><td style="background-color:#DBE5F1;width:16.85pt" valign="bottom"> </td><td style="background-color:#DBE5F1;width:17.75pt" valign="bottom"> </td><td style="background-color:#DBE5F1;width:91.65pt" valign="bottom">(12,930) </td></tr> <tr><td style="width:227.65pt" valign="top">Total gross deferred tax assets </td><td style="width:17.75pt" valign="bottom"> </td><td style="width:91.65pt" valign="top">312,233 </td><td style="width:16.85pt" valign="bottom"> </td><td style="width:17.75pt" valign="bottom"> </td><td style="width:91.65pt" valign="bottom">296,459 </td></tr> <tr><td style="background-color:#DBE5F1;width:227.65pt" valign="top">Less: Deferred tax asset valuation allowance </td><td style="background-color:#DBE5F1;width:17.75pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="background-color:#DBE5F1;width:91.65pt;border-bottom:0.5pt solid #000000" valign="top">(312,233) </td><td style="background-color:#DBE5F1;width:16.85pt" valign="bottom"> </td><td style="background-color:#DBE5F1;width:17.75pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="background-color:#DBE5F1;width:91.65pt;border-bottom:0.5pt solid #000000" valign="bottom">(296,459) </td></tr> <tr><td style="width:227.65pt" valign="top">Total net deferred taxes </td><td style="width:17.75pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:91.65pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="top">- </td><td style="width:16.85pt" valign="bottom"> </td><td style="width:17.75pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:91.65pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">- </td></tr> </table>

319193

309389

6960 12930

312233

296459

312233

296459

6817533

6779827

10. Commitments and Contingencies Legal Matters From time to time, the Company may be involved in a variety of claims, suits, investigations and proceedings arising from the ordinary course of our business, collections claims, breach of contract claims, labor and employment claims, tax and other matters. Although claims, suits, investigations and proceedings are inherently uncertain and their results cannot be predicted with certainty. Regardless of the outcome, litigation can have an adverse impact on the Company because of legal costs, diversion of management resources and other factors. As of June 30, 2026, the Company does not have any commitment or contingencies, except for the operating lease disclosed in Note 2 and the convertible debentures disclosed in Note 6.

11. Subsequent Events Management has evaluated subsequent events, in accordance with ASC 855, “Subsequent Events,” through the date these financial statements were issued and noted no items requiring disclosure.