The following discussion should be read in conjunction with our consolidated financial statements, including the notes thereto, appearing elsewhere in this annual report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to those discussed below and elsewhere in this Annual Report. Our audited financial statements are stated in United States Dollars and are prepared in accordance with United States Generally Accepted Accounting Principles.





Results of Operations

Year Ended September 30, 2022 Compared to the Year Ended September 30, 2021





Revenue

During the years ended September 30, 2022 and 2021 we did not generate any revenue.

General and Administrative Expenses

For the year ended September 30, 2022, we had $579,799 in general and administrative expenses compared to $252,070 for the year ended September 30, 2021, an increase of $327,729 or 130%. Our primary expense in 2022 was for consulting which increased approximately $166,000 to $287,000. We also had increases for investor relations (~$69,000), advertising and promotion (~$32,000) and other promotional activity (~$24,000).





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Director Compensation

For the year ended September 30, 2022, we had $34,650 in director compensation for the issuance of common stock compared to $0 for the year ended September 30, 2021.





Professional Fees

For the year ended September 30, 2022, we had $176,576 in professional fees compared to $106,042 for the year ended September 30, 2021, an increase of $70,534 or 66.5%. Professional fees consist of legal, audit and accounting fee, all of which increased in the current year. During the current period we incurred $48,900 for audit fees and $116,700 in legal fees and $11,000 for accounting fees.





Other Income/Expense

For the year ended September 30, 2022, we had $42,897 of total other expense compared to $2,232 for the year ended September 30, 2021, an increase of $40,665. For the year ended September 30, 2022, we had interest expense of $42,897 . We are accruing interest on the loan from our CEO. In the prior year we had $3,856 of interest expense, offset with $1,624 of other income.





Net Loss

Our net loss for the year ended September 30, 2022 was $833,922 compared to $360,344 for the year ended September 30, 2021. The increase in our net loss is due to our increased expenses as discussed above.

Liquidity and Capital Resources

At September 30, 2022, we had total current assets of $58,623, consisting primarily of cash. We had total current liabilities of $1,314,734 consisting mostly of loans from related parties.





Changes in Cash Flows

Cash Flows from Operating Activities

For the year ended September 30, 2022, we used $715,816 of cash in operating activities compared to $282,239 for the year ended September 30, 2021.

Cash Flows from Investing Activities

During year ended September 30, 2022, we used $56,765 for the purchase of property and equipment. During year ended September 30, 2021, we issued a note receivable for $150,000, all of which has been repaid. We also used $100,000 for the purchase of an intangible asset and $45,196 for other property and equipment.

Cash Flows from Financing Activities

We have financed our operations primarily from loans from related parties. For the year ended September 30, 2022, net cash provided by financing activities was $710,526, which included proceeds from the sale of common stock of $125,626 and cash from related party loans of $584,900. For the year ended September 30, 2021, net cash provided by financing activities was $439,973.

The ability of the Company to continue as a going concern is dependent on the Company's ability to raise additional capital and implement its business plan. Since its inception, the Company has been funded by related parties through capital investment and borrowing of funds.





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Going Concern

We have not attained profitable operations and are dependent upon obtaining financing to pursue any extensive activities. For these reasons, our auditors stated in their report on our audited financial statements that they have substantial doubt that we will be able to continue as a going concern without further financing.

The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs for the next fiscal year and allow it to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable.





Critical Accounting Policies

Refer to Note 2 of our financial statements contained elsewhere in this Form 10-K for a summary of our critical accounting policies and recently adopting and issued accounting standards.

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