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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Washington,
D.</B></FONT><B>C. 20549</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 8-K</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section 13 OR 15(d) of the Securities
Exchange Act of 1934</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of Report (Date of Earliest Event Reported):
December 16, 2021</P>

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<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><IMG SRC="image_004.jpg" ALT="" STYLE="height: 156px; width: 155px">&nbsp;</P>

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    <TD STYLE="font: 12pt/107% Calibri, Helvetica, Sans-Serif; width: 100%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Next Meats Holdings, Inc.</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt/107% Calibri, Helvetica, Sans-Serif; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">(Exact
    name of registrant as specified in its charter)</FONT></TD></TR>
  </TABLE>
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  <TR>
    <TD STYLE="width: 29%; line-height: 107%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 1%; line-height: 107%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 42%; line-height: 107%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 1%; line-height: 107%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 27%; line-height: 107%; font-size: 12pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center; line-height: 107%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%"><B>Nevada</B></FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; line-height: 107%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>000-56167</B>&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; line-height: 107%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>85-4008709</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">(state
    or other jurisdiction of incorporation)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">(Commission
    File Number)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">(IRS
    Employer Identification Number)</FONT></TD></TR>
  </TABLE>
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    <TD STYLE="width: 10%; line-height: 107%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 43%; line-height: 107%; font-size: 12pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>3F 1-16-13 Ebisu Minami Shibuya-ku,</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Tokyo Japan</B></P></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-right: 0.8pt; text-align: center; line-height: 107%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>150-0022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">(address
    of principal executive offices)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">(zip
    code)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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    <TD STYLE="width: 100%; line-height: 107%; font-size: 12pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center; line-height: 107%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>81-90-6002-4978</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">(registrant&rsquo;s
    telephone number, including area code)</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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    <TD STYLE="width: 100%; line-height: 107%; font-size: 12pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center; line-height: 115%"><FONT STYLE="font-size: 10pt"><B>N/A</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center; line-height: 107%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">(former
    name or former mailing address, if changed since last report)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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    <TD STYLE="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[
    &nbsp;&nbsp;]</FONT></TD>
    <TD STYLE="width: 95%; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">Written
    communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[
    &nbsp;&nbsp;]</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">Soliciting
    material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[
    &nbsp;&nbsp;]</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">Pre-commencement
    communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[
    &nbsp;&nbsp;]</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">Pre-commencement
    communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: justify">Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&sect; 230.405 of this chapter) or Rule 12b-2 of
the Securities Exchange Act of 1934 (&sect;240.12b-2 of this chapter).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">Emerging growth company&nbsp;&nbsp;[X]&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 12pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">If an
emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section&nbsp;13(a) of the Exchange Act.&nbsp;&nbsp;[ &nbsp;&nbsp;]</FONT></P>



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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"></P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Note:
                                            </B>&ldquo;We&rdquo;, &ldquo;Us&rdquo;, &ldquo;The Issuer&rdquo;, and or &ldquo;The Company&rdquo;
                                            refer to Next Meats Holdings, Inc., a Nevada Company.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>FORWARD
LOOKING STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
Current Report on Form 8-K contains forward-looking statements which involve risks and uncertainties, principally in the sections entitled
&ldquo;Business&rdquo;, and &ldquo;Management&rsquo;s Discussion and Analysis&rdquo;. All statements other than statements of historical
fact contained in this Current Report on Form 8-K, including statements regarding future events, our future financial performance, business
strategy and plans and objectives of management for future operations, are forward-looking statements. We have attempted to identify
forward-looking statements by terminology including &ldquo;anticipates&rdquo;, &ldquo;believes&rdquo;, &ldquo;can&rdquo;, &ldquo;continue&rdquo;,
&ldquo;could&rdquo;, &ldquo;estimates&rdquo;, &ldquo;expects&rdquo;, &ldquo;intends&rdquo;, &ldquo;may&rdquo;, &ldquo;plans&rdquo;, &ldquo;potential&rdquo;,
&ldquo;predicts&rdquo;, or &ldquo;should&rdquo;, or the negative of these terms or other comparable terminology. Although we do not make
forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy. These statements
are only predictions and involve known and unknown risks, uncertainties and other factors that may appear in this Current Report on Form
8-K, which may cause our or our industry&rsquo;s actual results, levels of activity, performance or achievements expressed or implied
by these forward-looking statements to vary. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge
from time to time and it is not possible for us to predict all risk factors, nor can we address the impact of all factors on our business
or the extent to which any factor, or combination of factors, may cause our actual results to differ materially from those contained
in any forward-looking statements. All forward-looking statements included in this document are based on information available to us
on the date hereof, and we assume no obligation to update any such forward-looking statements, except as expressly required by law.</FONT></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">You
should not place undue reliance on any forward-looking statement, each of which applies only as of the date of this Current Report on
Form 8-K. Except as required by law, we undertake no obligation to update or revise publicly any of the forward-looking statements after
the date of this Current Report on Form 8-K to conform our statements to actual results or changed expectations.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">All
dollar amounts used throughout this Report are in US Dollars, unless otherwise stated. All amounts in Japanese Yen used throughout this
Report are preceded by JPY, for example JPY 500, is referring to 500 Japanese Yen.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">-1-</FONT></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="table"></A><B>TABLE
OF CONTENTS</B></FONT></P>

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<TR>
    <TD STYLE="width: 92%; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 3%; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">Page</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-decoration: underline; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#item2"><FONT STYLE="text-transform: uppercase; color: blue; line-height: 106%"><B><U>Item
    2.01&nbsp;&nbsp;Completion of Acquisition or Disposition of Assets</U></B></FONT></A></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase; line-height: 106%">3</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-decoration: underline; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U><A HREF="#item501">ITEM
    5.01 CHANGES IN CONTROL OF REGISTRANT</A></U></B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-decoration: underline; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase; color: blue; line-height: 106%"><B><U><A HREF="#shellcompany">Item
    5.06&nbsp;&nbsp;Change in shell company status</A></U></B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase; line-height: 106%">3</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-decoration: underline; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; text-align: justify; text-indent: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#business"><FONT STYLE="text-transform: uppercase; color: blue; line-height: 106%"><U>Business</U></FONT></A></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase; line-height: 106%">4</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-decoration: underline; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; text-align: justify; text-indent: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#risk"><FONT STYLE="text-transform: uppercase; color: blue; line-height: 106%"><U>Risk
    Factors</U></FONT></A></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase; line-height: 106%">9</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-decoration: underline; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; text-align: justify; text-indent: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#management"><FONT STYLE="text-transform: uppercase; color: blue; line-height: 106%"><U>mANAGEMENT&rsquo;S
    DISCUSSION AND ANALYSIS</U></FONT></A></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase; line-height: 106%">9</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-decoration: underline; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; text-indent: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#security"><FONT STYLE="text-transform: uppercase; color: blue; line-height: 106%"><U>SECURITY
    OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT</U></FONT></A></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase; line-height: 106%">10</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-decoration: underline; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; text-indent: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#directors"><FONT STYLE="text-transform: uppercase; color: blue; line-height: 106%"><U>DIRECTORS
    AND EXECUTIVE OFFICERS</U></FONT></A></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase; line-height: 106%">11</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-decoration: underline; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; text-indent: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#executivecompensation"><FONT STYLE="text-transform: uppercase; color: blue; line-height: 106%"><U>EXECUTIVE
    COMPENSATION</U></FONT></A></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase; line-height: 106%">13</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-decoration: underline; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; text-indent: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#certain"><FONT STYLE="text-transform: uppercase; color: blue; line-height: 106%"><U>CERTAIN
    RELATIONSHIPS AND RELATED TRANSACTIONS</U></FONT></A></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase; line-height: 106%">14</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-decoration: underline; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; text-indent: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#market"><FONT STYLE="text-transform: uppercase; color: blue; line-height: 106%"><U>Market
    Price of &amp; dividends on the registrants common equity &amp; related matters</U></FONT></A></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase; line-height: 106%">16</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-decoration: underline; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; text-indent: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#legal"><FONT STYLE="text-transform: uppercase; color: blue; line-height: 106%"><U>LEGAL
    PROCEEDINGS</U></FONT></A></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase; line-height: 106%">16</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-decoration: underline; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; text-indent: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#recent"><FONT STYLE="text-transform: uppercase; color: blue; line-height: 106%"><U>RECENT
    SALES OF UNREGISTERED SECURITIES</U></FONT></A></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase; line-height: 106%">16</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-decoration: underline; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; text-indent: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#description"><FONT STYLE="text-transform: uppercase; color: blue; line-height: 106%"><U>DESCRIPTION
    OF SECURITIES</U></FONT></A></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase; line-height: 106%">16</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-decoration: underline; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; text-indent: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#indemnification"><FONT STYLE="text-transform: uppercase; color: blue; line-height: 106%"><U>INDEMNIFICATION
    OF OFFICERS AND DIRECTORS</U></FONT></A></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-decoration: underline; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; text-indent: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#financial"><FONT STYLE="text-transform: uppercase; color: blue; line-height: 106%"><U>FINANCIAL
    STATEMENTS AND SUPPLEMENTARY DATA</U></FONT></A></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase; line-height: 106%">17</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#changes"><FONT STYLE="text-transform: uppercase; line-height: 106%">CHANGES
    IN AND DISAGREEMENTS WITH ACCOUNTANTS</FONT></A></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase; line-height: 106%">18</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-decoration: underline; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase; color: blue; line-height: 106%"><B><U><A HREF="#item9">Item
    9.01 Financial Statements And Exhibits</A></U></B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase; line-height: 106%">18</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-decoration: underline; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase; color: blue; line-height: 106%"><U><A HREF="#sig">EXHIBITS
    AND SIGNATURES</A></U></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase; line-height: 106%">18</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="text-align: center; font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">-2-&nbsp;</P>

<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><A HREF="#table">Table of Contents</A></P>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="item2"></A><B>ITEM
2.01 COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS </B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">As
                                            previously disclosed in our Form 8-K filed on June 9, 2021, we entered into a &ldquo;Share
                                            Cancellation and Exchange Agreement&rdquo; (referred to herein as &ldquo;the Agreement&rdquo;)
                                            with Next Meats Co., Ltd. A full copy of the agreement is attached as Exhibit 10.1 to the
                                            aforementioned Form 8-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Next
Meats Co., Ltd. is referred to herein as &ldquo;NMCO&rdquo;, and Next Meats Holdings, Inc., is referred to herein as &ldquo;the Company&rdquo;,
and or &ldquo;NXMH&rdquo;. The shareholders of Next Meats Co., Ltd., prior to effectiveness of the aforementioned agreement, are referred
to herein as &ldquo;NMCO shareholders&rdquo;.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to the Agreement, and at the Effective Time of the Agreement, which is commensurate and equates to the filing of this Form 8-K, NXMH
shall acquire NMCO resulting in NMCO as a wholly owned subsidiary of NXMH. &nbsp;Immediately prior to the effective time (defined below),
each NMCO shareholder shall cancel and exchange their percentile share interest in NMCO for an equivalent percentile share interest in
NXMH. The cancellation and exchange shall be conducted and equivalent pursuant to each NMCO shareholder&rsquo;s pro rata percentage set
forth in&nbsp;the table below&nbsp;(the &ldquo;Cancellation and Exchange&rdquo;). At the Effective Time, NMCO shall issue NXMH 1,000
shares of its common stock to NXMH resulting in NMCO as a wholly owned subsidiary of NXMH.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"><U>Effective Time:</U> <I>The aforementioned
Agreement is to be effective commensurate with the filing of this Form 8-K</I><B>. </B>At the effective time, NMCO issued 1,000 shares
of its common stock to NXMH. As a result, Next Meats Co., Ltd. is now a 100% wholly owned subsidiary of the Company (NXMH).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">The aforementioned parties intend
that the reorganization contemplated by this Agreement shall constitute a tax-free organization pursuant to Section 368(a)(1) of the
Internal Revenue Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"></P>

<P>The chart below indicates, amongst other data, the resulting issuance of shares of NXMH to each, now former, shareholder of Next Meats
Co., Ltd. following the Effective Time of the Share Cancellation and Exchange Agreement. Prior to the Effective Time, NMCO was comprised
of the following parties:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: top; background-color: #A8D08D">
    <TD STYLE="border: Black 1pt solid; width: 41%; padding-top: 9pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NAME
    OF SHAREHOLDER</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 20%; padding-top: 9pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>APPROXIMATE
    PERCENTILE SHARES OWNED OF NMCO (PRIOR TO THE EFFECTIVE TIME)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 11%; padding-top: 9pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SHARES
    OWNED OF NMCO (PRIOR TO EFFECTIVE TIME)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 28%; padding-top: 9pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PRO
    RATA COMMON SHARES OF NXMH TO BE ISSUED TO NMCO SHAREHOLDER AT THE EFFECTIVE TIME</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; white-space: nowrap; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ryo
    Shirai</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">33.4643%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">37,402</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">163,088,842</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; white-space: nowrap; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hideyuki
    Sasaki</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">33.4643%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">37,402</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">163,088,842</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-indent: -3pt; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; margin-top: 0; margin-bottom: 0">White Knight
    Co., Ltd.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; margin-top: 0; margin-bottom: 0">(owned
    and controlled by Koichi Ishizuka)</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19.0575%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">21,300</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">92,877,182</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; white-space: nowrap; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Koichi
    Ishizuka</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.2946%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,800</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,930,069</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; white-space: nowrap; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kiyoshi
    Noda</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.9666%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,198</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,584,227</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; white-space: nowrap; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rei
    Ishizuka</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.9666%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,198</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,584,227</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; white-space: nowrap; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michihito
    Inoue</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.4315%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,600</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,976,690</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -5pt; margin-top: 0; margin-bottom: 0">Ryonetsu
    Kogyou co., ltd</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -5pt; margin-top: 0; margin-bottom: 0">(Represented
    by Mitsugu Kondo, CEO)</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.8947%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,000</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,360,431</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; white-space: nowrap; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hideya
    Marukawa</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.7158%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">800</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,488,345</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; white-space: nowrap; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Keiichi
    Yogo</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.7158%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">800</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,488,345</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; white-space: nowrap; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tomonori
    Yoshinaga</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.5368%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">600</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,616,259</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-indent: -2pt; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -4pt; margin-top: 0; margin-bottom: 0">SJ Capital
    Co., Ltd.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -4pt; margin-top: 0; margin-bottom: 0">(Represented
    by Takeshi Sugisawa)</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.5073%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">567</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,472,364</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Okakichi
    Co., Ltd (Represented by Shigeru Okada, CEO)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.3275%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">366</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,595,918</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-indent: -2pt; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -4pt; margin-top: 0; margin-bottom: 0">CX Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -4pt; margin-top: 0; margin-bottom: 0">(Represented
    by Hiromichi Furui, CEO)</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.2988%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">334</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,456,384</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-indent: -2pt; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -4pt; margin-top: 0; margin-bottom: 0">HEXEL Works,
    Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -4pt; margin-top: 0; margin-bottom: 0">(Represented
    by Yoichi Nagai, CEO)</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.2684%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">300</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,308,129</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-indent: -2pt; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -4pt; margin-top: 0; margin-bottom: 0">THREWAYS,
    Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -4pt; margin-top: 0; margin-bottom: 0">(Represented
    by GENKI HIRAI, CEO)</P>

</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.0895%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">436,044</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; white-space: nowrap; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>100.0000%</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 10.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>111,767</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>487,352,298</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">Following the Effective Time of
the Share Cancellation and Exchange Agreement, December 16, 2021, Next Meats Co., Ltd. became a 100% wholly owned subsidiary of the Company.
Next Meats Co., Ltd. is no longer our controlling shareholder and any shares previously held by Next Meats Co., Ltd. of the issuer have
subsequently been cancelled and returned to treasury, and are no longer deemed to be issued and outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">The quantities of stock of NXMH,
detailed within the above table, have been issued to the respective parties pursuant to the Share Cancellation and Exchange Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">Following the above, Ryo Shirai,
Hideyuki Sasaki, and Koichi Ishizuka (directly and indirectly through White Knight Co., Ltd.), collectively now own and control 439,984,935
shares of our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">As of the current date, and following
the Share Cancellation and Exchange Agreement, we now have 500,000,000 shares of common stock issued and outstanding.</P>


<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: left"><P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><A NAME="item501"></A>ITEM
                                            5.01 CHANGES IN CONTROL OF REGISTRANT</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">As noted above, and as a result of the consummation of the Share
Cancellation and Exchange Agreement, Ryo Shirai, Hideyuki Sasaki, and Koichi Ishizuka (directly and indirectly through White Knight Co.,
Ltd.), collectively now own and control approximately 439,984,935 shares of our common stock. We currently have a total of 500,000,000
shares of common stock issued and outstanding.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: left"><P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><A NAME="shellcompany"></A>ITEM
                                            5.06 CHANGE IN SHELL COMPANY STATUS</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Upon the
Effective Time of the Share Cancellation and Exchange Agreement, December 16, 2021, we ceased our status as a &ldquo;shell company&rdquo;,
as defined in Rule 12b-2 under the Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;). We now operate through Next Meats
Co., Ltd., a Japan Company, in addition to our existing subsidiary, NextMeats France, a French Company.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">We also
retain approximately 40.6% voting control of Dr. Foods, Inc., a Nevada Company. Collectively, we along with White Knight Co., Ltd., a
Japan Company, have approximately 81.20% voting control of Dr. Foods, Inc. Our Chief Financial Officer, Koichi Ishizuka, owns and controls
White Knight Co., Ltd.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">The Company and Dr. Foods, Inc. intend to co-develop new food products
and subsequently offer them for sale to both distributors and consumers alike.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Next Meats
Co., Ltd. is a Japanese Company that operates in the &ldquo;alternative meat&rdquo; industry. It currently offers, and plans to continue
to offer, amongst other things, artificial chicken and beef products made from meat substitutes. The product offerings from Next Meats
Co., Ltd. are currently sold to various food distributors, supermarkets, and restaurant groups.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">We intend to utilize NextMeats France to, amongst other things,
operate as a reseller and distributor, in France and throughout Europe, for food products currently offered by Next Meats Co., Ltd.,
a Japanese Company.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Going forward, we intend to operate through and act as a holding
company for our two current subsidiaries. We also share the same business objectives as our wholly owned subsidiaries, which is the development,
sale, and distribution of alternative meat products to customers across the globe. We also intend to further our business objectives
in conjunction with our partnership with Dr. Foods, Inc.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Our business objectives are described in greater detail beginning
on page 6.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Given we are no longer a shell company <FONT STYLE="font-family: Times New Roman, Times, Serif">as
a result of our acquisition of Next Meats Co., Ltd., which has considerable operations, assets, and revenue, we have set forth herein
the information, including the information with respect to our new operations, that would be required if we were filing a general form
for registration of securities on Form 10 under the Exchange Act, reflecting our common stock in this Report on Form 8-K.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">-3-</FONT></P>

<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; color: blue"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#table"><U>Table
of Contents</U></A></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>FORM
10 DISCLOSURE</U></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
disclosed elsewhere in this report, the Company has entered into and now consummated a Share Cancellation and Exchange Agreement, resulting
in the acquisition of Next Meats Co., Ltd., which caused the Company to cease being defined as a &ldquo;shell company&rdquo;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">under
the Securities Act of 1933, as amended. Item 2.01(f) of Form 8-K requires that if a registrant was a shell company, immediately before
the transaction disclosed under Item 2.01, then the registrant must disclose the information that would be required if the registrant
were filing a general form for registration of securities on Form 10. Accordingly, we are providing below the information that would
be included in a Form 10 if we were to file a Form 10. Please note that the information provided below relates to the combined enterprises
after the closing of the Share Cancellation and Exchange Agreement, except that information relating to periods prior to the date of
the Share Cancellation and Exchange Agreement only relates to the Company, unless otherwise specifically indicated.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A NAME="business"></A><B><U>Business</U></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Corporate
History</U></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Next Meats Holdings, Inc. (we, us, our, or the &ldquo;Company&rdquo;),
formerly known as Turnkey Solutions, Inc., was incorporated on April 15, 2020 in the State of Nevada.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin: 0; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin: 0; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">On
April 15, 2020, Paul Moody was appointed Chief Executive Officer, Chief Financial Officer, President, Secretary, Treasurer and Director
of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin: 0; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin: 0; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">On
October 1, 2020, the Company, also referred to herein as the &ldquo;Successor&rdquo;, announced on Form 8-K plans to participate in a
holding company reorganization (&ldquo;the Reorganization&rdquo; or &ldquo;Merger&rdquo;) with Intermedia Marketing Solutions, Inc. (&ldquo;IMMM&rdquo;
or &ldquo;Predecessor&rdquo;) and Intermedia Marketing Solutions Merger Sub, Inc. (&ldquo;Merger Sub&rdquo;) collectively (the &ldquo;Constituent
Corporations&rdquo;) pursuant to NRS 92A.180, NRS A.200, NRS 92A.230 and NRS 92A.250. Immediately prior to the Reorganization, the Company
was a direct and wholly owned subsidiary of Intermedia Marketing Solutions, Inc. and Intermedia Marketing Solutions Merger Sub, Inc.
was a direct and wholly owned subsidiary of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin: 0; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin: 0; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">The
effective date and time of the Reorganization was October 28, 2020 at 4PM PST (the &ldquo;Effective Time&rdquo;). The entire plan of
Merger is on file with Nevada Secretary of State (&ldquo;NSOS&rdquo;) and included in the Articles of Merger pursuant to NRS 92A.200
Nevada Secretary of State (&ldquo;NSOS&rdquo;) and attached to and made a part thereof to the Articles of Merger pursuant to NRS 92A.200
filed with NSOS on October 16, 2020. At the Effective Time, Predecessor merged with and into its indirect and wholly owned subsidiary,
Merger Sub with Predecessor as the surviving corporation resulting in Predecessor as a wholly owned subsidiary of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin: 0; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin: 0; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">Concurrently
and after the Effective Time, the Company cancelled all of its stock held in Predecessor resulting in the Company as a stand-alone and
separate entity with no subsidiaries, no assets and negligible liabilities. The assets and liabilities of Predecessor, if any, remained
with Predecessor. Following the reorganization, the Company abandoned the business plan of its Predecessor and resumed its former business
plan of a blank check company after completion of the Merger. It should be noted that the Company is no longer deemed to be a black check
company at this time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin: 0; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin: 0; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">Full
details pertaining to the Reorganization can be viewed in the Company&rsquo;s Form 8-K filed on October 29, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin: 0; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="font: 10pt/10.6pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin: 0; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">On
November 18, 2020 our former controlling shareholder, Flint Consulting Services, LLC sold 35,000,000 shares of common stock to Next Meats
Co., Ltd. a Japan Company. The Purchase Price was paid with personal funds of the now former majority shareholders of Next Meats Co.,
Ltd.</P>

<P STYLE="font: 10pt/10.6pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin: 0; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="font: 10pt/10.6pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin: 0; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">On
the same day, November 18, 2020, Paul Moody resigned from his positions of Chief Executive Officer, Chief Financial Officer, President,
Secretary, Treasurer and Director.</P>

<P STYLE="font: 10pt/10.6pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin: 0; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="font: 10pt/10.6pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin: 0; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">Simultaneous
to Paul Moody&rsquo;s resignations, Ryo Shirai was appointed as our Chief Executive Officer and Director, Hideyuki Sasaki as our Chief
Operating Officer and Director, and Koichi Ishizuka as our Chief Financial Officer and Director.</P>

<P STYLE="font: 10pt/10.6pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin: 0; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin: 0; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">On
January 8, 2021 our majority shareholder at the time, Next Meats Co., Ltd., a Japan Company, along with our Board of Directors, comprised
of Mr. Koichi Ishizuka, Mr. Ryo Shirai, and Mr. Hideyuki Sasaki, took action to ratify, affirm, and approve a name change of the Company
from Turnkey Solutions, Inc., to Next Meats Holdings, Inc. The Company filed a Certificate of Amendment with the Nevada Secretary of
State (&ldquo;NVSOS&rdquo;) to enact the name change with an effective date of January 19, 2021. This was previously disclosed in the
Form 8-K we filed on January 25, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin: 0; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin: 0; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">Also
on January 8, 2021, our then majority shareholder Next Meats Co., Ltd., along with our Board of Directors took action to ratify, affirm,
and approve a change of the Company&rsquo;s ticker symbol from TKSI to NXMH.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin: 0; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin: 0; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">Pursuant
to the above, the Company carried out a FINRA corporate action. As a result of the aforementioned corporate action, the Company&rsquo;s
CUSIP number for its common stock was changed from 90043H102 to 65345L100. The change in CUSIP, name change, and symbol change were posted
on the FINRA daily list on January 25, 2021 with a market effective date of January 26, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin: 0; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin: 0; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">On
January 28, 2021, our then majority shareholder, Next Meats Co., Ltd., along with our Board of Directors took action to ratify, affirm,
and approve the issuance of 452,352,298 shares of restricted common stock to Next Meats Co., Ltd. The shares were issued for services
rendered to the Company. Following this issuance, there were 500,000,000 shares of common stock issued and outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">On June 9, 2021 Next Meats Holdings,
Inc. entered into a &ldquo;Share Cancellation and Exchange Agreement&rdquo; (referred to herein as &ldquo;the Agreement&rdquo;) with
Next Meats Co., Ltd. A full copy of the agreement is attached as Exhibit 10.1 to our Form 8-K filed on June 9, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">Next Meats Co., Ltd. is referred
to herein as &ldquo;NMCO&rdquo;, and Next Meats Holdings, Inc., is referred to herein as &ldquo;the Company&rdquo;, and or &ldquo;NXMH&rdquo;.
The shareholders of Next Meats Co., Ltd., prior to effectiveness of the aforementioned agreement, are referr<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ed
to herein as &ldquo;NMCO shareholders&rdquo;.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to the Agreement, and at the Effective Time of the Agreement, which is commensurate and equates to the filing of this Form 8-K, NXMH
shall acquire NMCO resulting in NMCO as a wholly owned subsidiary of NXMH. &nbsp;Immediately prior to the effective time (defined below),
each NMCO shareholder shall cancel and exchange their percentile share interest in NMCO for an equivalent percentile share interest in
NXMH. The cancellation and exchange shall be conducted and equivalent pursuant to each NMCO shareholder&rsquo;s pro rata percentage set
forth in&nbsp;the table below&nbsp;(the &ldquo;Cancellation and Exchange&rdquo;). At the Effective Time, NMCO shall issue NXMH 1,000
shares of its common stock to NXMH resulting in NMCO as a wholly owned subsidiary of NXMH.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"><U>Effective Time:</U> The aforementioned
Agreement is to be effective commensurate with the filing of this Super 8-K, December 16, 2021. At the effective time, NMCO issued 1,000
shares of its common stock to NXMH. As a result, at the Effective Time, Next Meats Co., Ltd. became a 100% wholly owned subsidiary of
the Company (NXMH).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">The aforementioned parties intend
that the reorganization contemplated by this Agreement shall constitute a tax-free organization pursuant to Section 368(a)(1) of the
Internal Revenue Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-4-</P>

<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="color: blue; font: 10pt Times New Roman, Times, Serif; margin: 0"><U>Table of Contents</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"></P>

<P></P>

<P>The chart below indicates, amongst other data, the resulting issuance of shares of NXMH to each, now former, shareholder of Next Meats
Co., Ltd. following the Effective Time of the Share Cancellation and Exchange Agreement. Prior to the Effective Time, NMCO was comprised
of the following parties:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: top; background-color: #A8D08D">
    <TD STYLE="border: Black 1pt solid; width: 41%; padding-top: 9pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NAME
    OF SHAREHOLDER</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 20%; padding-top: 9pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>APPROXIMATE
    PERCENTILE SHARES OWNED OF NMCO (PRIOR TO THE EFFECTIVE TIME)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 11%; padding-top: 9pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SHARES
    OWNED OF NMCO (PRIOR TO EFFECTIVE TIME)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 28%; padding-top: 9pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PRO
    RATA COMMON SHARES OF NXMH TO BE ISSUED TO NMCO SHAREHOLDER AT THE EFFECTIVE TIME</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; white-space: nowrap; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ryo
    Shirai</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">33.4643%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">37,402</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">163,088,842</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; white-space: nowrap; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hideyuki
    Sasaki</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">33.4643%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">37,402</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">163,088,842</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-indent: -3pt; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; margin-top: 0; margin-bottom: 0">White Knight
    Co., Ltd.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; margin-top: 0; margin-bottom: 0">(owned
    and controlled by Koichi Ishizuka)</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19.0575%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">21,300</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">92,877,182</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; white-space: nowrap; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Koichi
    Ishizuka</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.2946%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,800</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,930,069</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; white-space: nowrap; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kiyoshi
    Noda</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.9666%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,198</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,584,227</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; white-space: nowrap; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rei
    Ishizuka</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.9666%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,198</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,584,227</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; white-space: nowrap; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michihito
    Inoue</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.4315%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,600</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,976,690</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -5pt; margin-top: 0; margin-bottom: 0">Ryonetsu
    Kogyou co., ltd</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -5pt; margin-top: 0; margin-bottom: 0">(Represented
    by Mitsugu Kondo, CEO)</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.8947%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,000</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,360,431</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; white-space: nowrap; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hideya
    Marukawa</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.7158%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">800</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,488,345</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; white-space: nowrap; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Keiichi
    Yogo</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.7158%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">800</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,488,345</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; white-space: nowrap; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tomonori
    Yoshinaga</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.5368%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">600</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,616,259</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-indent: -2pt; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -4pt; margin-top: 0; margin-bottom: 0">SJ Capital
    Co., Ltd.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -4pt; margin-top: 0; margin-bottom: 0">(Represented
    by Takeshi Sugisawa)</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.5073%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">567</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,472,364</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Okakichi
    Co., Ltd (Represented by Shigeru Okada, CEO)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.3275%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">366</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,595,918</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-indent: -2pt; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -4pt; margin-top: 0; margin-bottom: 0">CX Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -4pt; margin-top: 0; margin-bottom: 0">(Represented
    by Hiromichi Furui, CEO)</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.2988%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">334</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,456,384</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-indent: -2pt; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -4pt; margin-top: 0; margin-bottom: 0">HEXEL Works,
    Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -4pt; margin-top: 0; margin-bottom: 0">(Represented
    by Yoichi Nagai, CEO)</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.2684%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">300</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,308,129</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-indent: -2pt; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -4pt; margin-top: 0; margin-bottom: 0">THREWAYS,
    Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -4pt; margin-top: 0; margin-bottom: 0">(Represented
    by GENKI HIRAI, CEO)</P>

</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.0895%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">436,044</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; white-space: nowrap; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>100.0000%</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 10.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>111,767</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>487,352,298</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">Following the Effective Time of
the Share Cancellation and Exchange Agreement, December 16, 2021, Next Meats Co., Ltd. became a 100% wholly owned subsidiary of the Company.
Next Meats Co., Ltd. is no longer our controlling shareholder and any shares previously held by Next Meats Co., Ltd. of the issuer have
subsequently been cancelled and returned to treasury, and are no longer deemed to be issued and outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">The quantities of stock of NXMH,
detailed within the above table, have been issued to the respective parties pursuant to the Share Cancellation and Exchange Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">Following the above, Ryo Shirai,
Hideyuki Sasaki, and Koichi Ishizuka (directly and indirectly through White Knight Co., Ltd.), collectively now own and control approximately
439,984,935 shares of our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">As of the current date of this
report, and following the Share Cancellation and Exchange Agreement, we now have 500,000,000 shares of common stock issued and outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">On July 20, 2021, Dr. Foods, Inc.,
formerly known as, &ldquo;Catapult Solutions, Inc.&rdquo;, a Nevada Corporation (&ldquo;DRFS&rdquo;), entered into a Share Purchase Agreement
(the &ldquo;Agreement&rdquo;) by and among CRS Consulting, LLC, a Wyoming Limited Liability Company (&ldquo;CRS&rdquo;), White Knight
Co., Ltd., a Japan Company (&ldquo;WKC&rdquo;), and Next Meats Holdings, Inc., a Nevada Company (&ldquo;NXMH&rdquo;), pursuant to which,
on July 23, 2021, (&ldquo;Closing Date&rdquo;), CRS sold 10,000 shares of DRFS Series Z Preferred Stock, representing approximately 81.20%
voting control of DRFS; 5,000 shares of Series Z Preferred Stock were transferred to WKC and 5,000 shares of Series Z Preferred Stock
were transferred to NXMH. Our Chief Financial Officer, Koichi Ishizuka, owns and controls White Knight Co., Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"><FONT STYLE="text-transform: none; color: rgb(32, 31, 30); letter-spacing: normal; word-spacing: 0px">On
August 25, 2021, the Company changed its business plan to&nbsp;</FONT><FONT STYLE="text-transform: none; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px">exploring
and evaluating various business opportunities in, amongst other industries, the alternative meats and lab-grown food product sectors.
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-align: left; text-indent: 0px; background-color: rgb(255, 255, 255)">On
or about September 17, 2021, we incorporated NextMeats France, a French Company, that will act as a wholly owned subsidiary of the Company.
We intend to utilize Next Meats France to, amongst other things, operate as a reseller and distributor, in France and throughout Europe,
of food products currently offered by Next Meats Co., Ltd., a Japanese Company. Next Meats Co., Ltd. shares common management with NextMeats
France.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-left: 20pt; font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"><I>Additional
Information regarding our wholly owned subsidiaries and Dr. Foods, Inc.</I></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 20pt">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 20pt">The Company and Dr. Foods, Inc. intend to co-develop new
food products and subsequently offer them for sale to both distributors and consumers alike. Currently, we are mutually developing an
alternative meat product that may mimic the taste of the French delicacy known as, &ldquo;Foie Gras&rdquo;.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Next
Meats Co., Ltd. is a Japanese Company that operates in the &ldquo;alternative meat&rdquo; industry. It currently offers, and plans to
continue to offer, amongst other things, artificial chicken and beef products made from meat substitutes. The product offerings from
Next Meats Co., Ltd. are currently sold to various food distributors, supermarkets, and restaurant groups. We believe Next Meats Co.,
Ltd. to be a globally recognized brand and that our global reach will continue to grow as time progresses and more individuals seek alternative
meat substitutes. </FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 20pt">We intend to utilize NextMeats France to, amongst other
things, operate as a reseller and distributor, in France and throughout Europe, for food products currently offered by Next Meats Co.,
Ltd., a Japanese Company.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 20pt">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 20pt">Going forward, we intend to act as a holding company and
operate through our two current subsidiaries. We also share the same business objectives as our wholly owned subsidiaries, which is the
development, sale, and distribution of alternative meat products to consumers across the globe. We also intend to further our business
objectives in conjunction with our partnership with Dr. Foods, Inc. Our current business plan is detailed below beginning on page 6.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 20pt">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: left"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: left"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">-5-</FONT></P>

<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; color: blue"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#table"><U>Table
of Contents</U></A></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0"><U>Alternative Meat Industry</U></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">The Alternative Meat Industry refers to meat analogues or meat substitutes
which are plant-based, lab-grown, or use ingredients other than livestock, such as insects. The Yano Research Institute announced that
the global market size for meat substitutes in 2020 was 2.3 billion dollars. It is estimated that the market will grow at an average
annual rate of 22% after 2020, reaching 6.1 billion dollars in 2025 and 17 billion dollars in 2030.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">Startups using technology to engineer meat in labs or manufacture
it from plant-based products are rising in popularity. In 2019, one of the world&rsquo;s biggest alternative protein brands, Beyond Meat,
which manufactures the plant-based Beyond Burger, went public at a valuation of almost $1.5B. The company reported net revenues of $407M
in 2020, a year-over-year increase of almost 37%, and net losses of $53M, driven largely by, what we believe to be, challenges posed
by the Covid-19 pandemic.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">Alternative protein sources can potentially reduce the negative environmental
impact associated with meat production, as livestock is a major contributor to greenhouse gas emissions. Additionally, reducing livestock
could free up global cropland, decrease soil erosion, and relieve pressure on the world&rsquo;s water supply.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">Consumers are also seeking healthier food alternatives. Rising obesity
rates across the globe, coupled with consumer interest in healthier food alternatives, are also driving demand for meatless proteins.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">In 2019, the annual retail food market grew by 2.2%, but plant-based
foods swelled by 11.4% in comparison, according to the Plant Based Foods Association. The following year saw even stronger growth, with
retail sales of more than $7B in 2020 - an increase of 27% that dwarfed the 15% growth observed across US retail food sales as a whole
that year.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">At present, our operations are primarily conducted in Japan, and
as such we have narrowed the focus of the following information to the alternative meat industry in Japan.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">In 2019, the Japan Meat Information Service Center conducted a survey
that revealed that at least 50% of the population was aware of products alternative to meat. The overall image of plant-based meat substitutes
was also rather positive. Nearly 60% of the respondents were ready to consume greener for their health and the planet.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">A year later, another study specifically conducted on soy-based meat
showed that consumer awareness jumped to over 70%. By August 2020, at least 1 out of 4 consumers had tasted a vegetable alternative to
meat at least once. The figures further revealed that consumers cook plant-based meat at home (68%) but also eat meat substitutes at
restaurants (30%) and cafes (18.2%).</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">The rising awareness of meat alternatives isn&rsquo;t unique to Japan
but is part of a global movement, with the Asia-Pacific region as the fastest-growing market. Experts forecast a growth rate of at least
9.4% a year until 2025 in that region only.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">By 2019, Japan&rsquo;s Ministry of Agriculture, Forestry, and Fisheries
already listed up to 12 domestic plant-based meat manufacturers. The Ministry noted the consumption increase seemed to be explosive.
Retailers also appeared largely in favor of the development of new alliterative meat products to stock their shelves. When the pandemic
hit worldwide, we believe Japan was already on the path for sustainable protein food sources. We believe this is greatly attributed to
a pre-existing shift to meat alternatives for reasons already stated above.</P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt/107% Times New Roman, Times, Serif; margin: 0">Sources</P>

<P STYLE="font: 8pt/107% Times New Roman, Times, Serif; margin: 0">https://www.cbinsights.com/research/future-of-meat-industrial-farming/</P>

<P STYLE="font: 8pt/107% Times New Roman, Times, Serif; margin: 0">https://www.gourmetpro.co/blog/plant-based-meat-gaining-steam-as-sustainable-food-source-japan</P>

<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0"><U>Business Information</U></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">Prior to the Effective Time of the Agreement between Next Meats Holdings,
Inc. and Next Meats Co., Ltd. we were deemed to be a shell company. Subsequent to the Effective Time of the &ldquo;Share Cancellation
and Exchange Agreement&rdquo;, detailed above, which occurred commensurate with the filing of this Form 8-K, our business plan has changed
to share that of our wholly owned subsidiaries, Next Meats Holdings, Inc., and NextMeats France which is to develop and sell alternative
meat products. For the purposes of the foregoing business plan, all references to &ldquo;Next Meats&rdquo;, &ldquo;NextMeats France&rdquo;,
or &ldquo;the Company&rdquo;, refer to Next Meats Holdings, Inc., Next Meats Co., Ltd., and Next Meats France as we share the same business
plan.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">Our mission, or philosophy, is that &ldquo;We Won&rsquo;t Let Earth
End&rdquo;. Next Meats works to provide a solution to the climate crisis and food insecurity problems by distributing, what we believe
to be, delicious alternative-meat products rooted in Japanese cuisine, worldwide. Next Meats is a food-tech venture founded in Tokyo,
by people passionate about delivering a better future for our children. We strive to create tasty alternatives to your favorite dishes,
without the same environmental impact of using meat. We believe in a more ecologically sustainable future for every person.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">At present, our principal focus is on the creation of plant-based
food products to replace traditional animal products, while retaining the taste and texture of the original.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">At Next Meats, safety and quality are our top priorities. Many people
imagine chemical additives when they hear the word &ldquo;alternative meat&rdquo;, but it is our intent to only use the minimum, necessary
ingredients, and keep additives at a minimum or as a last option. We combine vegetable proteins such as soybeans and peas and mold them
with heat and pressure to create a unique texture and flavor. We produce our products only in certified food factories. To ensure that
our products are safe, we produce them in clean food factories certified by the Japan Food Safety Management Association (JFS), HALAL,
etc., for thorough quality control. We are also exporting more and more of our products overseas as time progresses, and we believe part
of the reason is that our products are highly valued for their quality and &ldquo;Made in Japan&rdquo; taste.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">Below, pictured on the right, is the active production of one of
several of our product offerings, NEXT Yakiniku, a meat alternative to skirt steak. Pictured on the left is our NEXT Yakiniku once cooked
and prepared for consumption.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"><IMG SRC="image_005.jpg" ALT="" STYLE="height: 330px; width: 1200px">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">While we maintain rigorous safety and cleanliness standards for the
factories that produce Next Meats products, it should be noted that we do not, at this time, directly manufacture any of our products.
We have entered into agreements with local manufacturers to produce any and all Next Meats products. In the future, we may begin to manufacture
our products directly through the &ldquo;NEXT Factory&rdquo; (described in greater detail in the Facilities section below). We intend
to maintain ongoing relationships and agreements with local manufacturers for as long as they remain certified by JFS, HALAL, etc. and
meet our rigorous safety and cleanliness standards. From time to time we send out staff members into the facilities that manufacturer
our products for ongoing inspections and observation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-6-</P>

<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: blue"><U>Table of Contents </U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Currently
Available Products</U></FONT></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following list of</FONT> products is not comprehensive, but it is a showcase of some of our most popular items:</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">1.</FONT></TD><TD><FONT STYLE="font-size: 10pt">NEXT
                                            Burger 2.1- The NEXT Burger is a meat (plant-based) patty made by combining the proteins
                                            of peas and soybeans. In comparison to regular burgers, we believe the NEXT Burger to be
                                            very gentle on the body while retaining the taste of a traditional burger patty.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">2.</FONT></TD><TD><FONT STYLE="font-size: 10pt">NEXT
                                            Gyudon- Gyudon, also known as a beef bowl, is a Japanese dish traditionally consisting of
                                            a bowl of rice topped with beef and onion simmered in a mildly sweet sauce flavored with
                                            dashi, soy sauce and mirin. The NEXT Gyudon is made from processed soybeans and natural seasonings,
                                            without using any animal ingredients and without adding chemical seasonings. The cholesterol
                                            in this product is almost zero and we believe it to be a far healthier option than a typical
                                            gyudon, while retaining all the flavor.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">3.</FONT></TD><TD><FONT STYLE="font-size: 10pt">NEXT
                                            Yakiniku- The world's first plant-based Yakiniku barbecue meats have two types, the Short-rib,
                                            and the Skirt-steak. Both are:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.5in">- Free of artificial additives</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.5in">- High in protein</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.5in">- No Cholesterol</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.5in">- Uses Non-GMO soy</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.5in">- Low in saturated fat</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.5in">The textures slightly vary but they both have a non-intrusive,
lightly sweet and savory flavor which makes it extremely versatile. The NEXT Yakinikus are excellent grilled and &quot;topped on rice&quot;
or in a stir fry, or in tacos, and in an endless possibility of dishes.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">4.</FONT></TD><TD><FONT STYLE="font-size: 10pt">NEXT
                                            Chicken- The NEXT Chicken replicates the texture of chicken and is available in both original
                                            garlic herb roast as well as chicken tandoori flavors. Compared to chicken thighs, NEXT chicken
                                            has 1.1 times more protein (33.12g per pack), about 1/5 of fat (5.4g per pack), and does
                                            not contain cholesterol. It is made of 100% vegetable content, and is an ideal vegan alternative
                                            to chicken.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">5.</FONT></TD><TD><FONT STYLE="font-size: 10pt">NEXT
                                            Egg- The NEXT EGG is 100% plant based and is expected to procure the needs of the vegan population
                                            and people with egg allergies, who have, until now, had almost no commercial vegan egg options
                                            to choose from.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">6.</FONT></TD><TD><FONT STYLE="font-size: 10pt">NEXT
                                            Tuna- The NEXT Tuna is 100% botanical and low in fat cholesterol. It is available in a can
                                            and there is no need to drain oil or water. We believe it is ideal for hand-rolled sushi
                                            and pasta, as well as being placed on a salad or sandwiched with mayonnaise. In addition,
                                            since it can be stored at room temperature for a long period of time (2 years after manufacture
                                            date), it can be used as an emergency food or for camping. The NEXT Tuna is, at this time,
                                            exclusively available online. At launch it sold out within 6 hours, but we anticipate further
                                            inventory to be available in December of 2021.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">The vegetable protein for the Next Yakiniku is formed in a twin-screw
extruder, then dried, boiled, fried, and seasoned. Finally, it is heat sterilized and frozen. The Next Burger and Next Gyudon and Next
Chicken also use processed soy that comes out the extruder but they are cooked differently afterwards.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">The main ingredient for all products is soybeans, and different varieties
of soybeans and production areas are used for different products to give them varying textures and colors. The products are all sold
frozen with the exception of the canned Next Gyudon, and they are all classified as &ldquo;processed soy products&rdquo;. In some stores,
depending on the results of the bacteria count test, the product can be sold in the chilled zone in the fridge (5&#8451;).</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">Other than the main ingredient, soybeans, the other part of the product
is the seasoning, such as yakiniku sauce, beef bowl sauce, and herb seasoning for chicken.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">The below is included to provide a visual of some our current product
offerings detailed above.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="text-align: left; font: 10pt/107% Times New Roman, Times, Serif; margin: 0"><IMG SRC="image_007.jpg" ALT=""></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0"><U>Trademarks</U></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">We have obtained trademarks within Japan for the names of our existing
products. Any proposed or future products are also trademarked, or will likely be trademarked, within Japan or are pending receipt of
such trademark rights within Japan. Our name, &lsquo;Next Meats&rsquo; is also trademarked in the United States, Japan, and China.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0"><U>Future Products</U></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">Development of new products is ongoing, and in some instances may
not be to the point where we can publicly announce our plans. However, we can disclose that Next Pork is scheduled for release at some
point in January of 2022, and Next Milk is scheduled for release in December of 2021. Both of the products above are, like our other
products, plant based. Further details of each will be disclosed when the products have been released. We continually strive to create
and sell new products, and we anticipate our product line will continue to expand and diversify in 2022 and the years to follow as our
business expands and grows.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">Pictured below are our NEXT Tuna, NEXT Pork, and NEXT Milk products.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="text-align: left; font: 10pt/107% Times New Roman, Times, Serif; margin: 0"><IMG SRC="image_008.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">-7-</FONT></P>





<HR SIZE="2" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; color: blue"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#table"><U>Table
of Contents</U></A></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>



<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0"><U>Distribution</U></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">At present, we distribute our products through several wholesale
companies, while also selling directly through our website. The English version of our website can be viewed at the following link: https://nextmeats.co.jp/en.
We have accounts with Kokubu and NIPPON ACCESS, two of the largest food wholesalers in Japan, and they distribute our products to restaurants
and supermarkets throughout the country.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">As a result of our wholesale and distribution channels mentioned
above, Next Meats products are widely distributed in supermarkets and restaurant chains as an alternative meat brand.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">Below are some of the various supermarkets and restaurants (this
is not a full list) that our products can be found in.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="text-align: left; font: 10pt/107% Times New Roman, Times, Serif; margin: 0"><IMG SRC="image_006.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">Additionally, we have branch locations in Taiwan, Singapore, Vietnam,
Hong Kong and the United States. At each of these locations, there are individuals (they are not employees, but they are business associates
of our officers and directors) who act as local distributors and sell our products to distributors/retailers in each country, respectively.
In Vietnam and Taiwan, we sell the TVP (Textured Vegetable Protein) from Japan and conduct the final processing of our products locally.
In both Vietnam and Taiwan, the final processing is done at partner factories. In the future, we plan to establish official subsidiaries
for each of these countries and transfer business operations directly to them.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">Pictured below is one of our scientists on staff developing and producing
one of our various alternative meats products using the TVP method described above.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="text-align: left; font: 10pt/107% Times New Roman, Times, Serif; margin: 0"><IMG SRC="image_009.jpg" ALT=""></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">As part of our forward-looking plans, we are in the process of establishing
additional global branches in China, India, France, Italy, Spain, and Russia. Our French subsidiary was established in October and communications
are ongoing with French factories for local production. However, for all of the other countries listed above, we remain in the stage
of conducting market research.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>Marketing Strategy</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At present, our marketing plan is comprised of daily
posts and releases through various social networking platforms, and we have also appeared at events throughout Japan, distributed press
releases, and attempted to have our company featured on various news media. We have also created a television commercial, which can be
viewed on our website. The commercial was originally created in Japanese, and has only aired on television in Japan thus far, but has
also been translated into English and Chinese. It was, and is, our belief that creating and running a television commercial would help
to differentiate us from many other startups who do not reach out to the general public through this medium. As our operations progress,
our marketing initiatives will remain ongoing and we will continually seek to identify and explore new methods of increasing consumers&rsquo;
awareness of our products.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0"><U>Collaborative Efforts</U></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">On December 11, 2020, Next Meats Co., Ltd. entered into a Joint Development
Agreement with Euglena Co., Ltd. with the intent to jointly develop artificial meat products containing Euglena. To date, this has resulted
in the creation of &ldquo;Next Yakiniku Euglena EX&rdquo; which integrates the microalgae euglena into our Next Yakiniku product. We
are currently working on developing a burger patty alongside Euglena Co., Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">On December 28, 2020, Next Meats Co., Ltd. entered into a Memorandum of
Understanding with Toyota Tsusho Corporation to agree to consider this partnership with the aim of taking measures to make a new food
culture permeate society and contribute to the achievement of SDGs (Sustainable Development Goals), by making use of each companies&rsquo;
strengths in forming an ecosystem that expands the Japanese and overseas plant meat market and reinforces its value chain. Thus far,
this has resulted in introductions to new retailers, assistance with our exporting plans to China (including introductions to factories
in China), as well as the development of the &ldquo;Menchikatsu&rdquo; cutlet product which was released recently.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">On May 5, 2021, Next Meats Co., Ltd. entered into a Joint Research Agreement
with Nagaoka University of Technology. The research pertains to regulatory mechanisms of iron-binding protein gene expression in leguminosae
plants. Leguminosae plants possess a gene that encodes iron-binding protein, but this gene is not expressed in the seeds, so plant-based
meat made using seeds from leguminosae plants, like soybean, lack iron-binding proteins when compared to animal meats. One solution to
this problem is the production of cultivars wherein iron-binding protein genes are expressed within the seeds; the elucidation and usage
of epigenetic control mechanisms will be effective in modifying gene expression. Therefore, we will conduct fundamental research on the
development of plant variant that can produce seeds that contain high levels of iron-binding protein through the usage of the plant epigenetics
technology at the Nagaoka University of Technology.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">On October 11, 2021, we, through our now wholly owned subsidiary Next
Meats Co., Ltd., entered into and consummated a &ldquo;Collaboration Agreement&rdquo; with Dr. Foods Co., Ltd., a Japan company and wholly
owned subsidiary of Dr. Foods, Inc., a Nevada Company, that shares common management with the Company, to co-develop new food products
and subsequently offer them for sale. Dr. Foods Co., Ltd. operates in the &ldquo;plant-based food&rdquo; industry. It currently offers,
and plans to continue to offer, amongst other things, artificial foie gras made from meat substitutes, and intends to offer, in the future,
a diverse range of microalgae-based foods.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; word-spacing: 0px">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; word-spacing: 0px">The Collaboration Agreement with Dr. Foods, Inc. is
for a period of two years, and may be renewed thereafter under the same terms for additional one-year terms unless terminated in writing,
with three months&rsquo; notice, by either party. The Collaboration Agreement, amongst other things, details the terms and conditions
by which Next Meats Co., Ltd. and Dr. Foods Co., Ltd. may co-develop, cooperate and contribute towards the development of new products
and technologies. The specific allotment of tasks per project will be determined in writing by each party at the outset of collaborative
efforts. Dr. Foods Co., Ltd. will primarily, although not exclusively, contribute to research and development, and Next Meats Co., Ltd.
will primarily, although not exclusively, contribute to distribution of new products/technologies. Costs pursuant to the collaborative
efforts of the partners, will be the respective responsibility of the party responsible for fulfilling such tasks.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">-8-</FONT></P>



<HR SIZE="2" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; color: blue"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#table"><U>Table
of Contents</U></A></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>Future Plans</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We anticipate that over the course of the next few months, stretching
into early 2022, we will continue development of new products, expand on sales distribution channels, and issue pertinent press releases
while conducting media interviews. In January of 2022, we anticipate the release of NEXT Pork and in December of 2021, we plan to release
NEXT Milk. Development of the NEXT Factory will continue, with an estimated completion date of early 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">During 2022, we intend to begin the process of listing on the NASDAQ if
our financial situation is conducive to such an effort. At around the same time, we hope to expand upon the NEXT Factory as needed and
we intend to begin to research cultured meats, which will hopefully lead to additional new product offerings. Further, we intend to increase
our mass media exposure and have tentative plans to begin placing OOH (Out of Home) advertisements in strategic locations throughout
Japan. In 2023 and beyond we tentatively intend to increase our overseas media and event exposure, but such efforts are speculative at
present.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>Government Regulations</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The below does not extensively detail every law and
regulation to which the Company may be subject to, but rather provides an overview of the kind of food safety standards to which our
product(s) will be held.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The main law that governs food quality and integrity
in Japan is the Food Sanitation Act (&quot;FSA&quot;) and the law that comprehensively governs food labeling regulation is the Food Labeling
Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The FSA regulates food quality and integrity by:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">- Establishing standards and specifications for food,
additives, apparatus, and food containers and packaging;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">- Providing for inspection to see whether the established
standards are met;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">- Providing for hygiene management in the manufacture
and sale of food; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">- Requiring food businesses to be licensed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under the FSA, additives and foods containing additives
must not be sold, or be produced, imported, processed, used, stored, or displayed for marketing purposes unless the Minister of Health,
Labour and Welfare (&quot;MHLW&quot;) has declared them as having no risk to human health after seeking the views of the Pharmaceutical
Affairs and Food Sanitation Council (&quot;PAFSC&quot;). In addition, it is not permissible to add any processing aids, vitamins, minerals,
novel foods or nutritive substances to food unless they have been expressly declared by the MHLW as having no risk to human health.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The MHLW may establish specifications for methods
of producing, processing, using, cooking, or preserving food or additives to be served to the public for marketing purposes (&quot;Specifications&quot;),
or may establish standards for food ingredients or additives to be served to the public for marketing purposes (&quot;Standards&quot;)
pursuant to the FSA. Accordingly, where substances are allowed to be added to food, they may only be used within the limits expressly
set by the Specifications and Standards.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0"><U>Our Facilities</U></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">At present, our sole facilities are our research lab in Nagaoka,
Niigata, which opened in February of 2021 and our Tokyo offices. Our Nagaoka Research Lab is solely used for research activities and
does not include a &ldquo;production line&rdquo;. The lab is 75 square meters in size and has seven employees. The research conducted
here is led by Doctors of microbiology, life sciences, and engineering. Our recent research topics include: the incorporation of microorganisms
in raw materials and/or end products, fermentation technology, the use of epigenetics on raw materials, research on new varieties of
plants, and research on machinery used in the manufacturing process.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="text-align: left; font: 10pt/107% Times New Roman, Times, Serif; margin: 0"><IMG SRC="image_012.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">We are currently constructing our own NEXT factory dedicated to alternative
protein/product development. It will include sustainable technologies and DX Systems (HVAC air conditioning unit), and is set for completion
in Summer 2022. While we intend to retain our relationships and agreements with existing manufacturers of Next Meats products, it is
our intention that in the future we will handle production of future products directly at the NEXT Factory.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0"><U>Employees</U></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">At present, Next Meats Holdings, Inc. has three employees, solely
comprised of our officers and Directors. Next Meats Co., Ltd. has nineteen employees, including its three officers. Non executive employees
of Next Meats Co., Ltd. are full time employees and receive, in addition to their salaries, social insurance in Japan. Social insurance
is comprised of Pension, Health, Unemployment and Worker's Accident Compensation.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0"><U>Competition</U></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">The alternative meat industry is highly competitive, with a major
market share held by prominent companies, such as Beyond Meat, a Los Angeles-based producer of plant-based meat substitutes. In 2019,
Beyond Meat, which manufactures the plant-based Beyond Burger, went public at a valuation of almost $1.5B. Beyond Meat began offering
direct-to-consumer (D2C) sales in August 2020 and announced partnerships with Yum! Brands and McDonald&rsquo;s in 2021.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">In Japan, there are also several prominent alternative-meat companies
which we consider to be our direct competitors including, but not necessarily limited to, Marukome Co., Ltd., Maisen Fine Foods Co.,
and Kabaya Foods Corporation. Marukome Co., Ltd, one of Japan&rsquo;s oldest and top miso paste producers, launched their Daizu Labo
(Soybean Laboratories) brand, which features over 30 soy-based substitutes for animal products, eight advertised as &lsquo;meat&rsquo;
(ready to eat, dried, and frozen). Maisen Fine Foods Co., gradually expanded its business from organic brown rice to rice-based and allergy-friendly
food products. In 2016, they launched a series of gluten-free soybean and rice-based meat products. Kabaya Foods Corporation, a confectionery
company founded in 1946, launched a soy-based jerky in 2018 with the slogan &ldquo;a new era of snack is coming.&rdquo;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">Despite these, and other, competitors, we believe that we have significant
competitive strengths which poise Next Meats to become a prominent market participant in the alternative food industry going forward.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="risk"></A><B><U>RISK
FACTORS</U></B></FONT></P>

<P STYLE="font: 10pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">An investment in our common stock is highly speculative, and should only
be made by persons who can afford to lose their entire investment in us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We qualify as a smaller reporting company, as defined by Item 10 of Regulation
S-K and, thus, are not required to provide the information required by this Item.</P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><A NAME="management"></A>MANAGEMENT&rsquo;S
DISCUSSION AND ANALYSIS</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Summary
                                            of Current Operations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">On December 16, 2021, we acquired 100% of the equity interest of Next
Meats Co., Ltd., a Japan Company. Following the acquisition, we ceased to be a shell company. Currently, and going forward, we intend
to act as a holding company and operate through our two current subsidiaries Next Meats Co., Ltd., and NextMeats France.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We share the same business objectives as our wholly owned subsidiaries,
which is the development, sale, and distribution of alternative meat products to consumers across the globe.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Fiscal Year End</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Our fiscal year end is April 30<SUP>th</SUP>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">-9-</FONT></P>

<HR SIZE="2" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; color: blue"><A HREF="#table"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Table
of Contents</U></FONT></A></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Results of Operations - Next Meats Holdings, Inc., a Nevada
Company</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left">The
                                            consolidated financial statements, and related disclosures, of Next Meats Holdings, Inc.,
                                            through October 31, 2021 are included herein by reference to our Form 10-Q, filed with the
                                            Securities and Exchange Commission on December 15, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left">The quarter ending January 31,
2021, and thereafter, will include consolidated financial statements of NextMeats France and also Next Meats Co., Ltd. given the acquisition
of Next Meats Co., Ltd. occurred on December 16, 2021. The consolidated financial statements of Next Meats Holdings, Inc. as of October
31, 2021 do not include those of Next Meats Co., Ltd. given the acquisition of Next Meats Co., Ltd. has occurred on December 16, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left">As of October 31, 2021, the Company
has been exploring various opportunities in the alternative meat industry.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Results of Operations - Next Meats Co., Ltd., a Japan Company</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">References to &ldquo;we&rdquo;, &ldquo;our&rdquo;, and or &ldquo;the Company&rdquo;,
within the below paragraph are in reference to Next Meats Co., Ltd.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">As of April 30, 2021, we, Next Meats Co., Ltd., had total current
assets of $7,762,059. As of October 31, 2021, our total current assets amounted to $6,173,917. As of April 30, 2021, we had cash and
cash equivalents of $7,210,200, whereas as of October 31, 2021, we had cash and cash equivalents of $2,608,004. The decrease in our available
cash balance is primarily attributable to the fact that we remain an early-stage growth company, only having been incorporated on June
1, 2020, and we have spent the majority of our funds on furthering our business operations, expanding our product lines, and extending
our product visibility.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">While the majority of our current assets, as of April 30, 2021,
were in the form of cash and cash equivalents, as of October 31, 2021, our current assets were divided, for the most part, amongst cash
and cash equivalents, advance payments, and available inventory. Our inventory has increased from $249,434 as of April 30, 2021 to $980,605
as of October 31, 2021. We believed that we had, and still have, a continually increasing customer base and therefore it is the company&rsquo;s
belief that there is a need to hold increasing quantities of inventory as time progresses.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Our total assets, as of October 31, 2021, were $8,453,817, whereas
as of April 30, 2021 our total assets were $8,485,731. As of October 31, 2021, we had total liabilities of $3,021,904, whereas our total
liabilities as of April 30, 2021, amounted to $489,165. As mentioned previously, we believe that the variance can be attributed to an
increase in operations, and, more specifically, due in large part to a significant increase in accrued expenses and other payables.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">As of October 31, 2021,
we, Next Meats Co., Ltd., had total liabilities and shareholders&rsquo; equity in the amount of $<FONT STYLE="font-style: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px">8,453,817,
whereas as of April 30, 2021, we had total liabilities and shareholders&rsquo; equity in the amount of $8,485,731.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-style: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-style: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px">For
the three months ended October 31, 2021, we had realized revenues of $3,815,510, whereas for the three months ended October 31, 2020,
we had realized revenues in the amount of $72,348.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-style: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-style: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px">For
the six months ended October 31, 2020, we realized revenues of $5,184,080, whereas for the period from June 1, 2020 (Inception) to October
31, 2020 we realized revenues of $72,348. The increase in revenues is attributable to the fact that we were only incorporated on June
1, 2020 and we believe that our operations have increased significantly in recent months as a result of our increased recognition and
growing customer base. Our gross profit for the three months ended October 31, 2021 was $10,262, whereas for the three months ended October
31, 2020 it was $20,267. Our gross profit for the six months ended October 31, 2021 was $108,938 and for the period from June 1, 2020
to October 31, 2020 was $20,267.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-style: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-style: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px">Our
gross profit and margins are relatively thin, and we attribute this to the high costs of producing our products via third party manufacturers.
We currently intend to minimize this concern with the completion of our factory, which we have termed the &ldquo;NEXT Factory&rdquo;.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-style: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"><P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">We
                                            are currently constructing our NEXT Factory, which will be dedicated to alternative protein/product
                                            development. We anticipate it will include sustainable technologies and DX Systems (HVAC
                                            air conditioning unit), and is set for completion in Summer 2022. While we intend to retain
                                            our relationships and agreements with existing manufacturers of Next Meats products, it is
                                            our intention that in the future we will handle production of many future products directly
                                            at the NEXT Factory.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px">Our
Net Loss for the three months ended October 31, 2021 was $1,150,434, for the three months ended October 31, 2020 it was $55,668, for
the six months ended October 31, 2021 it was $2,302,472 , and for the period from June 1, 2020 (Inception) to October 31, 2020 it was
$75,060. We attribute the greater net loss to the dramatic increase in our levels of operations since inception, and due to the fact
that we have realized significant general and administrative expenses resulting from employees, research and development, marketing,
etc. We believe that our operating costs, and general and administrative costs will decrease going forward, as we have already paid fees
associated with commencing our operations. Furthermore, we believe that directly producing future products via the NEXT Factory will
increase product margins and may potentially shift our net loss into net income. </FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Results
                                            of Operations - NextMeats France, a French Company</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We incorporated NextMeats France on September 17, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Any and all financial transactions and related disclosures of NextMeats
France through October 31, 2021 are included by reference to our consolidated financials statements on Form 10-Q, filed with the Securities
and Exchange Commission on December 15, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left">For Next Meats Holdings, Inc.,
the quarter ending January 31, 2021, and thereafter, will include consolidated financial statements of NextMeats France and also Next
Meats Co., Ltd. given the acquisition of Next Meats Co., Ltd. occurred on December 16, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We intend to utilize NextMeats France to, amongst other things, operate
as a reseller and distributor, in France and throughout Europe, for food products currently offered by Next Meats Co., Ltd., a Japanese
Company. On December 16, 2021, Next Meats Holdings, Inc., a Nevada Company, acquired 100% of Next Meats Co., Ltd.</P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Information
Regarding our Share Structure:</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">We have 500,000,000 shares of common stock issued and outstanding
as of the date of this report.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">Ryo Shirai, Hideyuki Sasaki, and
Koichi Ishizuka (directly and indirectly through White Knight Co., Ltd.), collectively own and control approximately 439,984,935 shares
of our common stock as of the date of this Form 8-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Future Plans</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We
                                            anticipate that over the course of the next few months, stretching into early 2022, we will
                                            continue development of new products, expand on sales distribution channels, and issue pertinent
                                            press releases while conducting media interviews. In January of 2022, we anticipate the release
                                            of NEXT Pork and in December of 2021, we plan to release NEXT Milk. Development of the NEXT
                                            Factory will continue, with an estimated completion date of early 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">During 2022, we intend to begin the process of listing on the NASDAQ if
our financial situation is conducive to such an effort. At around the same time, we hope to expand upon the NEXT Factory as needed and
we intend to begin to research cultured meats, which will hopefully lead to additional new product offerings. Further, we intend to increase
our mass media exposure and have tentative plans to begin placing OOH (Out of Home) advertisements in strategic locations throughout
Japan. In 2023 and beyond we tentatively intend to increase our overseas media and event exposure, but such efforts are speculative at
present.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We intend to continue to fund the Company with loans, or advances from
related parties, in combination with cash and generated from the sale of our alternative meat products. If we need additional cash, and
our officers and or directors are unwilling to provide us funding, and our cash reserves are insufficient, we may seek out alternative
forms of funding. Such alternative means of funding have not yet been identified at this time.</P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><A NAME="security"></A>SECURITY
OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of the date of this report, the Company has 500,000,000 shares of common stock issued and outstanding. which number of issued and outstanding
shares of common stock and preferred stock have been used throughout this report.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&rsquo;s mailing address is: 3F 1-16-13 Ebisu Minami Shibuya-ku,Tokyo Japan.</FONT></P>


<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Note:
If no address is present in the below table it should be assumed that the address is the same as that for the Company.</FONT><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<TABLE CELLPADDING="0" STYLE="font: 10pt times new roman; border-spacing: 0; text-align: left; width: 100%">
  <TR STYLE="height: 15px">
    <TD STYLE="border-bottom-style: solid; border-bottom-width: 1px; vertical-align: bottom"><P STYLE="margin: 0px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%"><B>Name
                                            and Address of Beneficial Owner</B></FONT></P></TD>
    <TD STYLE="white-space: nowrap"><P STYLE="margin: 0px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P></TD>
    <TD CLASS="hdcell" COLSPAN="2" STYLE="border-bottom-style: solid; border-bottom-width: 1px; vertical-align: bottom; text-align: center"><P STYLE="margin: 0px; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Shares
                                            of Common Stock Beneficially Owned</B></FONT></P></TD>
    <TD STYLE="padding-bottom: 1px; white-space: nowrap"><P STYLE="margin: 0px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&#160;</B></FONT></P></TD>
    <TD STYLE="white-space: nowrap"><P STYLE="margin: 0px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&#160;</B></FONT></P></TD>
    <TD CLASS="hdcell" COLSPAN="2" STYLE="border-bottom-style: solid; border-bottom-width: 1px; vertical-align: bottom; text-align: center"><P STYLE="margin: 0px; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Common
                                            Stock Voting Percentage Beneficially Owned</B></FONT></P></TD>
    </TR>
  <TR STYLE="height: 15px; background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Executive Officers and
    Directors</B></FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD CLASS="ffcell" STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD CLASS="ffcell" STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD></TR>
  <TR STYLE="height: 15px; background-color: White">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Koichi Ishizuka <SUP>1</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD CLASS="ffcell" STYLE="vertical-align: bottom; text-align: right">113,807,251</TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD CLASS="ffcell" STYLE="vertical-align: bottom; text-align: right">22.76%</TD></TR>
  <TR STYLE="height: 15px; background-color: White">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ryo Shirai <SUP>2</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD CLASS="ffcell" STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">163,088,842</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD CLASS="ffcell" STYLE="vertical-align: bottom; text-align: right">32.62%</TD></TR>
<TR STYLE="height: 15px">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hideyuki Sasaki <SUP>3</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD CLASS="ffcell" STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">163,088,842</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD CLASS="ffcell" STYLE="vertical-align: bottom; text-align: right">32.62%</TD></TR>
<TR STYLE="height: 15px; background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>5% or greater shareholders</B></FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD CLASS="ffcell" STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD CLASS="ffcell" STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD></TR>
  <TR STYLE="height: 15px; background-color: White">
    <TD STYLE="vertical-align: top"><P STYLE="margin: 0px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</FONT></P></TD>
    <TD STYLE="width: 1%; white-space: nowrap"><P STYLE="margin: 0px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P></TD>
    <TD STYLE="width: 1%; white-space: nowrap"><P STYLE="margin: 0px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P></TD>
    <TD CLASS="ffcell" STYLE="width: 9%; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">n/a</FONT></TD>
    <TD STYLE="width: 1%; white-space: nowrap"><P STYLE="margin: 0px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P></TD>
    <TD STYLE="width: 1%; white-space: nowrap"><P STYLE="margin: 0px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P></TD>
    <TD STYLE="width: 1%; white-space: nowrap"><P STYLE="margin: 0px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P></TD>
    <TD CLASS="ffcell" STYLE="width: 9%; vertical-align: bottom; text-align: right">n/a</TD>
    </TR>
<TR STYLE="height: 15px; background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><P STYLE="margin: 0px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total:</B></FONT></P></TD>
    <TD STYLE="white-space: nowrap"><P STYLE="margin: 0px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P></TD>
    <TD STYLE="white-space: nowrap"><P STYLE="margin: 0px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P></TD>
    <TD CLASS="ffcell" STYLE="vertical-align: bottom; text-align: right">439,984,935</TD>
    <TD STYLE="white-space: nowrap"><P STYLE="margin: 0px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P></TD>
    <TD STYLE="white-space: nowrap"><P STYLE="margin: 0px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P></TD>
    <TD STYLE="white-space: nowrap"><P STYLE="margin: 0px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P></TD>
    <TD CLASS="ffcell" STYLE="vertical-align: bottom; text-align: right">88.00<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD>
    </TR>
</TABLE>

<P STYLE="font: 10pt times new roman; margin: 0px"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>1</SUP>
Mr. Koichi Ishizuka serves as our Chief Financial Officer. The row denoting ownership for Koichi Ishizuka is inclusive of his ownership
in the Company via his personal holdings and that of White</FONT> Knight Co., Ltd. Koichi Ishizuka owns and controls White Knight Co.,
Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><SUP>2 </SUP>Mr. Ryo Shirai serves as our Chief Executive
Officer and Director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><SUP>3 </SUP>Mr. Hideyuki Sasaki serves as our Chief
Operating Officer and Director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Beneficial ownership
has been determined in accordance with Rule 13d-3 under the Exchange Act. Under this rule, certain shares may be deemed to be beneficially
owned by more than one person (if, for example, persons share the power to vote or the power to dispose of the shares). In addition,
shares are deemed to be beneficially owned by a person if the person has the right to acquire shares (for example, upon exercise of an
option or warrant) within 60 days of the date as of which the information is provided. In computing the percentage ownership&#160;of
any person, the amount of shares is deemed to include the amount of shares beneficially owned by such person by r</FONT>eason of such
acquisition rights. As a result, the percentage of outstanding shares of any person as shown in the following table does not necessarily
reflect the person&#8217;s actual voting power at any particular date.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">-10-</FONT></P>



<HR SIZE="2" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; color: blue"><A HREF="#table"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Table
of Contents</U></FONT></A></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><A NAME="directors"></A>DIRECTORS
AND EXECUTIVE OFFICERS</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Biographical
information regarding the officers and Directors of the Company, who will continue to serve as officers and Directors of Next Meats Holdings,
Inc. following the acquisition of Next Meats Co., Ltd., are provided below:</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Next
Meats Holdings, Inc.</B></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 2.25pt double; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%"><B>NAME</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2.25pt double; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%"><B>AGE</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2.25pt double; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%"><B>POSITION</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%"><B>Ryo
    Shirai</B></FONT></TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">40</FONT></TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">Chief
    Executive Officer and Director</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%"><B>Hideyuki
    Sasaki</B></FONT></TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">40</FONT></TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">Chief
    Operating Officer and Director</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%"><B>Koichi
    Ishizuka</B></FONT></TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">50</FONT></TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">Chief
    Financial Officer and Director</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Background
of Mr. Ryo Shirai&#160;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Mr.
Ryo Shirai, age 40, graduated from Keio University (Japan) in 2003, and from Beijing Language and Culture University in 2004. From 2004
to 200</FONT>6 he was employed as a Financial Advisor at Daiwa Securities Group, Inc. From 2006 to 2019, Mr. Shirai served as the Chief
Executive Officer and Founder of Whitehole Limited. Subsequently, he became the Founder of Next Meats Co., Ltd in 2020, and continues
to hold this position to this date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"><B>Background of Mr. Hideyuki Sasaki</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Mr. Hideyuki Sasaki, age 40, was employed as an Executive
Vice President at Whitehole Limited from 2008 to 2019. From 2020, to the present date, he has served as the Chief Executive Officer of
Next Meats Co., Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px"><B>Background
of Mr. Koichi Ishizuka</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px">Mr.
Koichi Ishizuka, age 50, attended the University of Aoyama Gakuin where he received his MBA in 2004. Several years later in 2011 he graduated
from the Advanced Management Program at Harvard School of Business. Following Mr. Ishizuka&rsquo;s formal education, he took a position
as the head of marketing with Thomson Reuters, a mass media and information firm. Thereafter, he served as the CEO of Xinhua Finance
Japan in 2006, Fate Corporation in 2008, and LCA Holdings., Ltd in 2009. Currently, Mr. Ishizuka serves as the Chief Executive Officer
of OFF Line Co., Ltd., Photozou Co., Ltd., Photozou Holdings, Inc., Photozou Koukoku Co., Ltd., Off Line International, Inc. and OFF
Line Japan Co., Ltd. He has held the position of CEO with OFF Line Co., Ltd. since 2013, Photozou Co., Ltd since 2016, Photozou Holdings,
Inc since 2017, Photozou Koukoku Co., Ltd. since 2017, Off Line International, Inc. since 2019 and OFF Line Japan Co., Ltd. since 2018.
On November 18, 2020, he was appointed as Chief Financial Officer of Next Meats Holdings, Inc., a position he still holds today. Koichi
Ishizuka also has an equity interest in Next Meats Holdings, Inc. Koichi Ishizuka is also Chief Financial officer of Next Meats Co.,
Ltd., a Japanese alternative meat company. It should be noted Koich Ishizuka is currently also a minority shareholder of Next Meats Co.,
Ltd. Since its inception on April 14, 2021, Koichi Ishizuka has served as CEO of WB Burgers Japan Co., Ltd., a Japanese Company.&nbsp;&nbsp;On
July 23, 2021, Mr. Koichi Ishizuka was appointed as the Chief Executive Officer, Chief Financial Officer, President, Secretary, Treasurer,
and Director of Catapult Solutions, Inc., which is now known as Dr. Foods, Inc.</p>


<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Corporate
governance</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">The Company
promotes accountability for adherence to honest and ethical conduct; endeavors to provide full, fair, accurate, timely and understandable
disclosure in reports and documents that the Company files with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) and in
other public communications made by the Company; and strives to be compliant with applicable governmental laws, rules and regulations.
The Company has not formally adopted a written code of business conduct and ethics that governs the Company&rsquo;s employees, officers
and Directors as the Company is not required to do so.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">In lieu
of an Audit Committee, the Company&rsquo;s Board of Directors, is responsible for reviewing and making recommendations concerning the
selection of outside auditors, reviewing the scope, results and effectiveness of the annual audit of the Company's financial statements
and other services provided by the Company&rsquo;s independent public accountants. The Board of Directors reviews the Company's internal
accounting controls, practices and policies.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Committees
of the Board</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our Company
currently does not have nominating, compensation, or audit committees or committees performing similar functions nor does our Company
have a written nominating, compensation or audit committee charter. Our Directors believe that it is not necessary to have such committees,
at this time, because the Directors can adequately perform the functions of such committees.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">-11-</FONT></P>



<HR SIZE="2" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; color: blue"><A HREF="#table"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Table
of Contents</U></FONT></A></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Audit
Committee Financial Expert</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our Board
of Directors has determined that we do not have a board member that qualifies as an &quot;<U>audit committee financial expert</U>&quot;
as defined in Item 407(D)(5) of Regulation S-K, nor do we have a Board member that qualifies as &quot;<U>independent</U>&quot; as the
term is used in Item 7(d)(3)(iv)(B) of Schedule 14A under the Securities Exchange Act of 1934, as amended, and as defined by Rule 4200(a)(14)
of the FINRA Rules.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">We believe
that our Directors are capable of analyzing and evaluating our financial statements and understanding internal controls and procedures
for financial reporting. The Directors of our Company do not believe that it is necessary to have an audit committee because management
believes that the Board of Directors can adequately perform the functions of an audit committee. In addition, we believe that retaining
an independent Director who would qualify as an &quot;<U>audit committee financial expert</U>&quot; would be overly costly and burdensome
and is not warranted in our circumstances given the stage of our development.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Involvement
in Certain Legal Proceedings</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Our officers and directors have not been involved in any of the
following events during the past ten years.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT></TD>
    <TD STYLE="width: 99%; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">bankruptcy petition
    filed by or against any business of which such person was a general partner or executive officer either at the time of the bankruptcy
    or within two years prior to that time;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</FONT></TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">any conviction in a criminal
    proceeding or being subject to a pending criminal proceeding (excluding traffic violations and other minor offenses);</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</FONT></TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">being subject to any order,
    judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily
    enjoining, barring, suspending or otherwise limiting his involvement in any type of business, securities or banking activities; or</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</FONT></TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">being found by a court of
    competent jurisdiction (in a civil action), the Commission or the Commodity Futures Trading Commission to have violated a federal
    or state securities or commodities law, and the judgment has not been reversed, suspended, or vacated.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.</FONT></TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Such person was found by
    a court of competent jurisdiction in a civil action or by the Commission to have violated any Federal or State securities law, and
    the judgment in such civil action or finding by the Commission has not been subsequently reversed, suspended, or vacated;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.</FONT></TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Such person was found by
    a court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated any Federal commodities
    law, and the judgment in such civil action or finding by the Commodity Futures Trading Commission has not been subsequently reversed,
    suspended or vacated;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.</FONT></TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Such person was the subject
    of, or a party to, any Federal or State judicial or administrative order, judgment, decree, or finding, not subsequently reversed,
    suspended or vacated, relating to an alleged violation of:(i) Any Federal or State securities or commodities law or regulation; or(ii)
    Any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent
    injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal
    or prohibition order; or(iii) Any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity;
    or</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.</FONT></TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Such person was the subject
    of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as
    defined in Section 3(a)(26) of the Exchange Act (15 U.S.C. 78c(a)(26))), any registered entity (as defined in Section 1(a)(29) of
    the Commodity Exchange Act (7 U.S.C. 1(a)(29))), or any equivalent exchange, association, entity or organization that has disciplinary
    authority over its members or persons associated with a member.</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Independence
of Directors</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">We are
not required to have independent members of our Board of Directors, and do not anticipate having independent Directors until such time
as we are required to do so.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Code
of Ethics</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">We have
not adopted a formal Code of Ethics. The Board of Directors evaluated the business of the Company and the number of employees and determined
that since the business is operated by a small number of persons, general rules of fiduciary duty and federal and state criminal, business
conduct and securities laws are adequate ethical guidelines. In the event our operations, employees and/or Directors expand in the future,
we may take actions to adopt a formal Code of Ethics.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Shareholder
Proposals</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our Company
does not have any defined policy or procedural requirements for shareholders to submit recommendations or nominations for Directors.
The Board of Directors believes that, given the stage of our development, a specific nominating policy would be premature and of little
assistance until our business operations develop to a more advanced level. Our Company does not currently have any specific or minimum
criteria for the election of nominees to the Board of Directors and we do not have any specific process or procedure for evaluating such
nominees. The Board of Directors will assess all candidates, whether submitted by management or shareholders, and make recommendations
for election or appointment.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">A shareholder
who wishes to communicate with our Board of Directors may do so by directing a written request addressed to our Chief Executive Officer,
at the address appearing on the first page of this Form 8-K.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">-12-</FONT></P>



<HR SIZE="2" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; color: blue"><A HREF="#table"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Table
of Contents</U></FONT></A></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><A NAME="executivecompensation"></A>EXECUTIVE
COMPENSATION</B></FONT></P>

<P STYLE="font: 10pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>Note:
</U></B>The below table is in relation to Next Meats Holdings, Inc. for the two most recent fiscal years ended April 30<SUP>th</SUP>.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Summary
Compensation Table:</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Name and principal position (a)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>As of April 30, (b)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Salary ($) (c)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Bonus ($) (d)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Stock Awards ($) (e)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Option Awards ($) (f)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Non-equity incentive plan compensation ($) (g)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Non-qualified deferred compensation earnings ($) (h)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>All other compensation ($) (i)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Total ($) (j)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Paul Moody, Former Officer and Director<SUP>1</SUP></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">2020</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">2021</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Ryo Shirai, Chief Executive Officer and Director</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">2020</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">2021</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Hideyuki Sasaki, Chief Operating Officer and Director</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">2020</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">2021</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Koichi Ishizuka, Chief Financial Officer and Director</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">2020</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">2021</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><SUP>1</SUP> Paul Moody resigned from his position
of Chief Executive Officer, Chief Financial Officer, President, Secretary, Treasurer and Director on November 18, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Compensation of Directors </B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The table above summarizes all compensation of our Directors through our
most recent fiscal year end April 30, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We do not have any employment agreements in place with any of our officers
or Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
                                            wholly owned subsidiaries also do not retain any employment agreements with any of its officers
                                            or Directors. However, it should be noted that Next Meats Co., Ltd. has paid total compensation
                                            of approximately $188,926 to Hideyuki Sasaki, Ryo Shirai, and Koichi Ishizuka as of April
                                            30, 2021.&nbsp;</FONT></P>


<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Stock
Option Grants</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">We have
not granted any stock options to our executive officers since our incorporation.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">-13-</FONT></P>


<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; color: blue"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#table"><U>Table
of Contents</U></A></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Director
Compensation</B></FONT></P>

<P STYLE="font: 10pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our Board
of Directors does not currently receive any consideration for their services as members of the Board of Directors. The Board of Directors
reserves the right in the future to award the members of the Board of Directors cash or stock based consideration for their services
to the Company, which awards, if granted shall be in the sole determination of the Board of Directors.</FONT></P>

<P STYLE="font: 10pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Executive
Compensation Philosophy</B></FONT></P>

<P STYLE="font: 10pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our Board
of Directors determines the compensation given to our executive officers in their sole determination. Our Board of Directors reserves
the right to pay our executive or any future executives a salary, and/or issue them shares of common stock issued in consideration for
services rendered and/or to award incentive bonuses which are linked to our performance, as well as to the individual executive officer&rsquo;s
performance. This package may also include long-term stock based compensation to certain executives, which is intended to align the performance
of our executives with our long-term business strategies. Additionally, while our Board of Directors has not granted any performance
base stock options to date, the Board of Directors reserves the right to grant such options in the future, if the Board in its sole determination
believes such grants would be in the best interests of the Company.</FONT></P>

<P STYLE="font: 10pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Incentive
Bonus</B></FONT></P>

<P STYLE="font: 10pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">The Board
of Directors may grant incentive bonuses to our executive officer and/or future executive officers in its sole discretion, if the Board
of Directors believes such bonuses are in the Company&rsquo;s best interest, after analyzing our current business objectives and growth,
if any, and the amount of revenue we are able to generate each month, which revenue is a direct result of the actions and ability of
such executives.</FONT></P>

<P STYLE="font: 10pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Long-term,
Stock Based Compensation</B></FONT></P>

<P STYLE="font: 10pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">In order
to attract, retain and motivate executive talent necessary to support the Company&rsquo;s long-term business strategy we may award our
executive and any future executives with long-term, stock-based compensation in the future, in the sole discretion of our Board of Directors,
which we do not currently have any immediate plans to award.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><A NAME="certain"></A>CERTAIN
RELATIONSHIPS AND RELATED TRANSACTIONS&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B><U>Next Meats Holdings, Inc.</U></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/10.6pt Times New Roman, Times, Serif; margin: 0; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">On
November 18, 2020 our former controlling shareholder, Flint Consulting Services, LLC sold 35,000,000 shares of common stock to Next Meats
Co., Ltd. a Japan Company. The Purchase Price was paid with personal funds of the now former majority shareholders of Next Meats Co.,
Ltd.</P>

<P STYLE="font: 10pt/10.6pt Times New Roman, Times, Serif; margin: 0; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="font: 10pt/10.6pt Times New Roman, Times, Serif; margin: 0; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">On
the same day, November 18, 2020, Paul Moody resigned from his positions of Chief Executive Officer, Chief Financial Officer, President,
Secretary, Treasurer and Director.</P>

<P STYLE="font: 10pt/10.6pt Times New Roman, Times, Serif; margin: 0; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="font: 10pt/10.6pt Times New Roman, Times, Serif; margin: 0; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">Simultaneous
to Paul Moody&rsquo;s resignations, Ryo Shirai was appointed as our Chief Executive Officer and Director, Hideyuki Sasaki as our Chief
Operating Officer and Director, and Koichi Ishizuka as our Chief Financial Officer and Director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">On
January 28, 2021, our then majority shareholder, Next Meats Co., Ltd., along with our Board of Directors took action to ratify, affirm,
and approve the issuance of 452,352,298 shares of restricted common stock to Next Meats Co., Ltd. The shares were issued for services
rendered to the Company. Following this issuance, there were 500,000,000 shares of common stock issued and outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/11.5pt Times New Roman, Times, Serif; margin: 0 0 8pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px">In
regards to the above transactions, the Company claims an exemption from registration afforded by Section Regulation S of the Securities
Act of 1933, as amended ("Regulation S") for the above issuances of stock since the issuances of stock were made to non-U.S. persons
(as defined under Rule 902 section (k)(2)(i) of Regulation S), pursuant to offshore transactions, and no directed selling efforts were
made in the United States by the issuer, a distributor, any of their respective affiliates, or any person acting on behalf of any of
the foregoing.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">On June 9, 2021 Next Meats Holdings,
Inc. entered into a &ldquo;Share Cancellation and Exchange Agreement&rdquo; (referred to herein as &ldquo;the Agreement&rdquo;) with
Next Meats Co., Ltd. A full copy of the agreement is attached as Exhibit 10.1 to our Form 8-K filed on June 9, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">Next Meats Co., Ltd. is referred
to herein as &ldquo;NMCO&rdquo;, and Next Meats Holdings, Inc., is referred to herein as &ldquo;the Company&rdquo;, and or &ldquo;NXMH&rdquo;.
The shareholders of Next Meats Co., Ltd., prior to effectiveness of the aforementioned agreement, are referred to herein as &ldquo;NMCO
shareholders&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">Pursuant to the Agreement, and
at the Effective Time of the Agreement, which is commensurate and equates to the filing of this Form 8-K, NXMH shall acquire NMCO resulting
in NMCO as a wholly owned subsidiary of NXMH. &nbsp;Immediately prior to the effective time (defined below), each NMCO shareholder shall
cancel and exchange their percentile share interest in NMCO for an equivalent percentile share interest in NXMH. The cancellation and
exchange shall be conducted and equivalent pursuant to each NMCO shareholder&rsquo;s pro rata percentage set forth in&nbsp;the table below&nbsp;(the
&ldquo;Cancellation and Exchange&rdquo;). At the Effective Time, NMCO shall issue NXMH 1,000 shares of its common stock to NXMH resulting
in NMCO as a wholly owned subsidiary of NXMH.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"><U>Effective Time:</U> The aforementioned
Agreement is to be effective commensurate with the filing of this Super 8-K, December 16, 2021. At the effective time, NMCO issued 1,000
shares of its common stock to NXMH. As a result, at the Effective Time, Next Meats Co., Ltd. is now a 100% wholly owned subsidiary of
the Company (NXMH).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">The aforementioned parties intend
that the reorganization contemplated by this Agreement shall constitute a tax-free organization pursuant to Section 368(a)(1) of the
Internal Revenue Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"></P>

<P></P>

<P>The chart below indicates, amongst other data, the resulting issuance of shares of NXMH to each, now former, shareholder of Next Meats
Co., Ltd. following the Effective Time of the Share Cancellation and Exchange Agreement. Prior to the Effective Time, NMCO was comprised
of the following parties:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: top; background-color: #A8D08D">
    <TD STYLE="border: Black 1pt solid; width: 41%; padding-top: 9pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NAME
    OF SHAREHOLDER</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 20%; padding-top: 9pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>APPROXIMATE
    PERCENTILE SHARES OWNED OF NMCO (PRIOR TO THE EFFECTIVE TIME)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 11%; padding-top: 9pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SHARES
    OWNED OF NMCO (PRIOR TO EFFECTIVE TIME)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 28%; padding-top: 9pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PRO
    RATA COMMON SHARES OF NXMH TO BE ISSUED TO NMCO SHAREHOLDER AT THE EFFECTIVE TIME</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; white-space: nowrap; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ryo
    Shirai</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">33.4643%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">37,402</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">163,088,842</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; white-space: nowrap; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hideyuki
    Sasaki</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">33.4643%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">37,402</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">163,088,842</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-indent: -3pt; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; margin-top: 0; margin-bottom: 0">White Knight
    Co., Ltd.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -6pt; margin-top: 0; margin-bottom: 0">(owned
    and controlled by Koichi Ishizuka)</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19.0575%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">21,300</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">92,877,182</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; white-space: nowrap; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Koichi
    Ishizuka</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.2946%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,800</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,930,069</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; white-space: nowrap; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kiyoshi
    Noda</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.9666%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,198</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,584,227</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; white-space: nowrap; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rei
    Ishizuka</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.9666%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,198</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,584,227</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; white-space: nowrap; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michihito
    Inoue</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.4315%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,600</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,976,690</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -5pt; margin-top: 0; margin-bottom: 0">Ryonetsu
    Kogyou co., ltd</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -5pt; margin-top: 0; margin-bottom: 0">(Represented
    by Mitsugu Kondo, CEO)</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.8947%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,000</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,360,431</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; white-space: nowrap; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hideya
    Marukawa</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.7158%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">800</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,488,345</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; white-space: nowrap; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Keiichi
    Yogo</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.7158%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">800</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,488,345</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; white-space: nowrap; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tomonori
    Yoshinaga</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.5368%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">600</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,616,259</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-indent: -2pt; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -4pt; margin-top: 0; margin-bottom: 0">SJ Capital
    Co., Ltd.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -4pt; margin-top: 0; margin-bottom: 0">(Represented
    by Takeshi Sugisawa)</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.5073%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">567</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,472,364</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Okakichi
    Co., Ltd (Represented by Shigeru Okada, CEO)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.3275%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">366</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,595,918</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-indent: -2pt; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -4pt; margin-top: 0; margin-bottom: 0">CX Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -4pt; margin-top: 0; margin-bottom: 0">(Represented
    by Hiromichi Furui, CEO)</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.2988%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">334</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,456,384</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-indent: -2pt; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -4pt; margin-top: 0; margin-bottom: 0">HEXEL Works,
    Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -4pt; margin-top: 0; margin-bottom: 0">(Represented
    by Yoichi Nagai, CEO)</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.2684%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">300</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,308,129</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-indent: -2pt; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -4pt; margin-top: 0; margin-bottom: 0">THREWAYS,
    Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -4pt; margin-top: 0; margin-bottom: 0">(Represented
    by GENKI HIRAI, CEO)</P>

</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.0895%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">436,044</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left; white-space: nowrap; padding-top: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>100.0000%</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 10.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>111,767</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 9pt; text-align: center; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>487,352,298</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">Following the Effective Time of
the Share Cancellation and Exchange Agreement, December 16, 2021, Next Meats Co., Ltd. became a 100% wholly owned subsidiary of the Company.
Next Meats Co., Ltd. is no longer our controlling shareholder and any shares previously held by Next Meats Co., Ltd. of the issuer have
subsequently been cancelled and returned to treasury, and are no longer deemed to be issued and outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">The quantities of stock of NXMH,
detailed within the above table, have been issued to the respective parties pursuant to the Share Cancellation and Exchange Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">Following the above, Ryo Shirai,
Hideyuki Sasaki, and Koichi Ishizuka (directly and indirectly through White Knight Co., Ltd.), collectively now own and control approximately
439,984,935 shares of our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">On July 20, 2021, Dr. Foods, Inc.,
formerly known as, &ldquo;Catapult Solutions, Inc.&rdquo;, a Nevada Corporation (&ldquo;DRFS&rdquo;), entered into a Share Purchase Agreement
(the &ldquo;Agreement&rdquo;) by and among CRS Consulting, LLC, a Wyoming Limited Liability Company (&ldquo;CRS&rdquo;), White Knight
Co., Ltd., a Japan Company (&ldquo;WKC&rdquo;), and Next Meats Holdings, Inc., a Nevada Company (&ldquo;NXMH&rdquo;), pursuant to which,
on July 23, 2021, (&ldquo;Closing Date&rdquo;), CRS sold 10,000 shares of DRFS Series Z Preferred Stock, representing approximately 81.20%
voting control of DRFS; 5,000 shares of Series Z Preferred Stock were transferred to WKC and 5,000 shares of Series Z Preferred Stock
were transferred to NXMH. Our Chief Financial Officer, Koichi Ishizuka, owns and controls White Knight Co., Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-align: left; text-indent: 0px; background-color: rgb(255, 255, 255)">On
or about September 17, 2021, we incorporated NextMeats France, a French Company, that will act as a wholly owned subsidiary of the Company.</P>


<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">-14-</FONT></P>


<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; color: blue"><A HREF="#table"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Table
of Contents</U></FONT></A></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-style: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px">During
the period ended October 31, 2021, the Company&rsquo;s majority shareholder, at the time, Next Meats Co., Ltd., paid expenses on behalf
of the Company totaling $31,885 and purchased stock of Dr. Foods, Inc., on behalf of the Company totaling $187,500. The $219,385 in total
payments are considered contributions to the company with no expectation of repayment and are posted as additional paid-in capital.</FONT><FONT STYLE="font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>Next
Meats Co., Ltd.</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Stock Split Carried out on behalf of Next Meats Co., Ltd.</I></B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">On August 24, 2020 there was a 1,000:1 stock split resulting in an increase
in shares outstanding from 80 to 80,000. At this time it was decided in a shareholders meeting to change the par value of commons shares
from 50,000 JPY to 50 JPY.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Common Shares Issued or Sold</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">On June 1, 2020, 80 shares of common stock
were issued to Hideyuki Sasaki at par value of 50,000 JPY. Hideyuka Sasaki is the Chief Executive Officer of Next Meats Co., Ltd.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the period ended April 30, 2021, 22,000 shares
of common stock were sold to related party White Knight Co., Ltd. (&ldquo;White Knight&rdquo;). White Knight is controlled by Koichi
Ishizuka. Koichi Ishizuka is Director of Next Meats Co., Ltd.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Loan/ Expenses paid - Next Meats Co., Ltd.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the period ended October 31, 2021, related
parties paid expenses on behalf of the Company totaling $8,176 and the Company repaid $10,137, resulting in a net balance owed of $751
as of October 31, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the period ended April 30, 2021, a related
party paid an expense on behalf of the Company totaling $2,829. This payment is considered a loan to the Company and is bearing 1% annual
interest and payable April 15, 2023. The loan is unsecured.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Other Information</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On October 11, 2021, Next Meats Co., Ltd., entered
into and consummated a &ldquo;Collaboration Agreement&rdquo; with Dr. Foods Co., Ltd., a Japan Company which is a wholly owned subsidiary
of Dr. Foods, Inc., a Nevada Company. Koichi Ishizuka is the sole officer and Director of Dr. Foods, Inc. Collectively, Next Meats Co.,
Ltd. and White Knight Co., Ltd. own and control approximately 81.20% of the voting control of Dr. Foods, Inc. White Knight Co., Ltd.
is a Japan Company owned and controlled by Koichi Ishizuka. Koichi Ishizuka is the Chief Financial Officer of Next Meats Holdings. He
is also an officer and Director of Next Meats Co., Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Next Meats Co., Ltd. intends to co-develop new food
products with Dr. Foods Co., Ltd. and subsequently offer them for sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Review,
Approval and Ratification of Related Party Transactions</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Given
our stage of development, we have not adopted formal policies and procedures for the review, approval or ratification of transactions,
such as those described above, with our executive officers, Directors and significant stockholders. We intend to establish formal policies
and procedures in the future, once we have furthered our business agenda and have appointed additional Directors, so that such transactions
will be subject to the review, approval or ratification of our Board of Directors, or an appropriate committee thereof. On a moving forward
basis, our Directors will continue to approve any related party transaction.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">-15-</FONT></P>

<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; color: blue"><A HREF="#table"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Table
of Contents</U></FONT></A></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin-top: 0; margin-bottom: 0; letter-spacing: normal; word-spacing: 0px; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase; color: Black; line-height: 106%"><B><A NAME="market"></A>Market
Price of &amp; dividends on the registrants common equity &amp; related matters</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin: 0; letter-spacing: normal; word-spacing: 0px; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin: 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px">(a)
Market Information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px">&nbsp;</P>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Next Meats Holdings, Inc. (we, us, our, or the "Company"),
formerly known as Turnkey Solutions, Inc., was incorporated on April 15, 2020 in the State of Nevada. Prior to the reorganization it
participated in, effective October 28, 2020, it was not quoted on any marketplace or exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: normal; word-spacing: 0px; text-indent: 0px">*Full
details pertaining to the Reorganization can be viewed in the Company&#8217;s Form 8-K filed on October 29, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; background-color: white; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; width: 37%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Quarter
    Ended</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>High
    Bid</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 30%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Low
    Bid</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">October
    31, 2021</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$6.00</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$2.00</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">July
    31, 2021</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$8.47</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$2.30</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">April
    30, 2021</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;$13.00</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$3.80</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January
    31, 2021</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$14.50</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$0.015</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">October
    31, 2020 (1)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$0.199</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$0.01</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; background-color: white; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 4px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Data for this period begins on October 28, 2020.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Holders</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin: 0; letter-spacing: normal; word-spacing: 0px; text-align: left; text-indent: 0px">As
                                            of the date of this current report on Form 8-K, we have 500,000,000 shares of common stock,
                                            $0.001 par value, issued and outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-align: left; text-indent: 0px">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-align: left; text-indent: 0px">As
of the date of this report, we have approximately 73 shareholders of record. <I>This is inclusive of Cede and Co., which is deemed to
be one shareholder of record</I>. For further clarification, Cede &amp; Co. is currently defined by the &ldquo;NASDAQ&rdquo;, as &ldquo;a
Nominee name for The Depository Trust Company, a large clearing house that holds shares in its name for banks, brokers and institutions
in order to expedite the sale and transfer of stock.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Dividends and Share Repurchases</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have not paid any dividends to our shareholders.
There are no restrictions which would limit our ability to pay dividends on common equity or that are likely to do so in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Issuer Purchases of Equity Securities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">None.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Equity Compensation Plan Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Not applicable.</P>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><A NAME="legal"></A>LEGAL
PROCEEDINGS</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">From time
to time, we may become party to litigation or other legal proceedings that we consider to be a part of the ordinary course of our business.
We are not currently involved in legal proceedings that could reasonably be expected to have a material adverse effect on our business,
prospects, financial condition or results of operations. We may become involved in material legal proceedings in the future.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><A NAME="recent"></A>RECENT
SALES OF UNREGISTERED SECURITIES</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: left"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin: 0; letter-spacing: normal; word-spacing: 0px; text-align: left; text-indent: 0px">The
Company has not conducted any recent sales of securities. Although, not a recent sale, it should be noted the Company completed and fulfilled
the terms of its Share Cancellation and Exchange agreement, December 16, 2021, as detailed on page 4 and elsewhere throughout this report.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><A NAME="description"></A>DESCRIPTION
OF SECURITIES</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">We have
authorized capital stock consisting of 500,000,000 shares of common stock, $0.001 par value per share (&ldquo;Common Stock&rdquo;) and
20,000,000 shares of preferred stock, $0.001 par value per share (&ldquo;Preferred Stock&rdquo;). </FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">As of
the date of this filing we have 500,000,000 shares of Common Stock and no shares of Preferred Stock issued and outstanding.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Common
Stock</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Holders
of shares of Common Stock shall be entitled to cast one vote for each share held at all stockholders&rsquo; meeting for all purposes,
including the election of directors. the Common Stock does not have cumulative voting rights.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">No holder
of shares of stock of any class or series shall be entitled as a matter of right to subscribe for purchase or receive any part of any
new or additional issue of shares of stock of any class or series, or of securities convertible into shares of stock of any class or
series, whether now hereafter authorized or whether issued for money, for consideration other than money, or by way of dividend.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">We have
500,000,000 shares of Common Stock authorized.&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Preferred
Stock</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">The Preferred
Stock of the corporation shall be issuable by authority of the Board of Directors of the Corporation in one or more classes or one or
more series within any class and such classes or series shall have such voting powers, full or limited, or no voting powers, and such
designations, preferences, limitations or restrictions as the Board of Directors of the Corporation may determine, from time to time.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">We have
20,000,000 shares of Preferred Stock Authorized. </FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Options
and Warrants</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">None.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Convertible
Notes</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">None.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">-16-</FONT></P>

<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; color: blue"><A HREF="#table"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Table
of Contents</U></FONT></A></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="indemnification"></A>&nbsp;<B>INDEMNIFICATION
OF OFFICERS AND DIRECTORS</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our directors
and officers are indemnified as provided by the Nevada corporate law and our Bylaws. We have agreed to indemnify each of our directors
and certain officers against certain liabilities, including liabilities under the Securities Act of 1933. Insofar as indemnification
for liabilities arising under the Securities Act of 1933 may be permitted to our directors, officers and controlling persons pursuant
to the provisions described above, or otherwise, we have been advised that in the opinion of the Securities and Exchange Commission such
indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that
a claim for indemnification against such liabilities (other than our payment of expenses incurred or paid by our director, officer or
controlling person in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, we will, unless in the opinion of our counsel the matter has been settled
by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><A NAME="financial"></A>FINANCIAL
STATEMENTS AND SUPPLEMENTARY DATA</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left"><B><U>Note</U>: </B>Note: The
consolidated financial statements of Next Meats Holdings, Inc., through October 31, 2021 are included herein by reference to our Form
10-Q, filed with the Securities and Exchange Commission on December 15, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left">The quarter ending January 31,
2021, and thereafter, will include consolidated financial statements of NextMeats France and also Next Meats Co., Ltd. given the acquisition
of Next Meats Co., Ltd. occurred on December 16, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><B>&nbsp;Index to Financial
Statements - Next Meats Co., Ltd.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><B>For the Year Ended April
30, 2021</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><B>(Audited)&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="width: 18px; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; width: 69px; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">Page</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">Report
    of Independent Registered Public Accounting Firm</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">F1</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">Financial
    Statements:</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">Balance
    Sheet</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">F2</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">Statement
    of Operations</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">F3</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">Statement
    of Changes in Stockholder (Deficit) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">F4</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">Statement
    of Cash Flows</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">F5</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">Notes
    to Audited Financial Statements</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">F6
    - F7</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><B>&nbsp;Index to Financial
Statements - Next Meats Co., Ltd.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><B>For the Period Ended October
31, 2021</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><B>(Unaudited)&nbsp;</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="width: 18px; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; width: 69px; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">Page</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">Balance
    Sheet</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">F8</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">Statement
    of Operations</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">F9</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">Statement
    of Changes in Stockholder (Deficit) </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">F10</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">Statement
    of Cash Flows</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">F11</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">Notes
    to Unaudited Financial Statements</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">F12
    - F13</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;Index
to Financial Statements - Pro Forma Financial Information</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(Unaudited)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>Note</U>:
</B>The below Pro Forma Financial Information is included herein to give historical financial information of the registrant given the
December 16, 2021 acquisition of Next Meats Co., Ltd.</FONT></P>


<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="width: 18px; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; width: 69px; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">Page</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">Pro
    Forma Consolidated Balance Sheets</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">F14</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">Pro
    Forma Consolidated Statements of Operations and Comprehensive Loss</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">F15</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">-17-</FONT></P>

<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; color: blue"><A HREF="#table"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Table
of Contents</U></FONT></A></P>

<P STYLE="font: 14pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 14pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"><B>Report of Independent Registered Public
Accounting Firm</B></P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">To the shareholders and the board of directors
of Next Meats Co., Ltd.</P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B>Opinion on the Financial Statements</B></P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">We have audited the accompanying balance
sheet of Next Meats Co., Ltd. (the &quot;Company&quot;) as of April 30, 2021, the related statement of operations, stockholders' equity
(deficit), and cash flows for the period June 1, 2020 (Inception) through April 30, 2021 and the related notes (collectively referred
to as the &quot;financial statements&quot;). In our opinion, the financial statements present fairly, in all material respects, the financial
position of the Company as of April 30, 2021, and the results of its operations and its cash flows for the period June 1, 2020 (Inception)
through April 30, 2021, in conformity with accounting principles generally accepted in the United States.</P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B>Substantial Doubt about the Company&rsquo;s
Ability to Continue as a Going Concern</B></P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">The accompanying financial statements
have been prepared assuming that the Company will continue as a going concern. As discussed in Note 3 to the financial statements, the
Company&rsquo;s significant operating losses raise substantial doubt about its ability to continue as a going concern. The financial
statements do not include any adjustments that might result from the outcome of this uncertainty.</P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B>Basis for Opinion</B></P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">These financial statements are the responsibility
of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audit. We
are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (&quot;PCAOB&quot;) and are
required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and
regulations of the Securities and Exchange Commission and the PCAOB.</P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">We conducted our audit in accordance with
the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were
we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an
understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the
Company&rsquo;s internal control over financial reporting. Accordingly, we express no such opinion.</P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">Our audit included performing procedures
to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that
respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial
statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as
evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">/S BF Borgers CPA PC</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>BF Borgers CPA PC</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have served as the Company's auditor since 2021</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Lakewood, CO</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">December 16, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">-F1-</FONT></P>

<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; color: blue"><A HREF="#table"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Table
of Contents</U></FONT></A></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom"><TD COLSPAN="4" STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NEXT
    MEATS CO., LTD.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;BALANCE
    SHEETS</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 81%; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 3%; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 15%; padding-right: 4.95pt; padding-left: 4.95pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">April 30,</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">2021</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Audited)</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ASSETS</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current
    Assets</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash
    and cash equivalents</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,210,200</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts
    receivable, trade</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">144,809</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts
    receivable, other</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">118,662</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Advance
    payments and prepaid expenses</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">38,954</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventories</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">249,434</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TOTAL
    CURRENT ASSETS</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,762,059</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-current
    assets</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Furniture,
    fixtures and equipment, net</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">206,468</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Construction
    in progress</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">169,325</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">316,717</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Long
    term prepaid expenses and security deposits, net</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">31,161</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TOTAL
    NON-CURRENT ASSETS</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">723,671</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TOTAL
    ASSETS</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,485,731</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">LIABILITIES
    AND SHAREHOLDERS' EQUITY</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current
    Liabilities</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accrued
    expenses and other payables</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">482,657</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income
    tax payables</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,679</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due
    to related party</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,829</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TOTAL
    CURRENT LIABILITIES</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">489,165</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TOTAL
    LIABILITIES</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">489,165</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shareholders'
    Equity</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common
    stock (50 JPY par value, 2,000,000,000 shares authorized,</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">111,767
    shares issued and outstanding as of April 30, 2021)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">52,374</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additional
    paid-in capital</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,056,002</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accumulated
    deficit</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,041,749)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accumulated
    other comprehensive income(loss)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(70,061)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TOTAL
    SHAREHOLDERS' EQUITY</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,996,556</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TOTAL
    LIABILITIES AND SHAREHOLDERS' EQUITY</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,485,731</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">The accompanying notes are an integral part of these
audited financial statements.</P>

<P STYLE="font: 10pt/10.5pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">-F2-</FONT></P>

<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; color: blue"><A HREF="#table"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Table
of Contents</U></FONT></A></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NEXT
    MEATS CO., LTD.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>STATEMENTS
    OF OPERATIONS AND COMPREHENSIVE INCOME</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="text-align: center; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>(audited)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 142px; padding-right: 4.95pt; padding-left: 4.95pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the Year</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Ended April 30, 2021</P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenues</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">398,386</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cost
    of revenues</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">301,166</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Gross
    profit</B></FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">97,220</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">OPERATING
    EXPENSE</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">General
    and administrative expenses</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,131,494</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,711</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
    operating expenses</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,136,205</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Income
    (loss) from operations</B></FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,038,985)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
    income (expense)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
    income</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,017</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
    other income (expenses)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,017</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Net
    income (loss) before tax</B></FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,037,968)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income
    tax expense</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,780</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NET
    INCOME (LOSS)</B></FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,041,749)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="3" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">OTHER
    COMPREHENSIVE INCOME (LOSS)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Foreign
    currency translation adjustment</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(70,061)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>TOTAL
    COMPREHENSIVE INCOME (LOSS)</B></FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,111,810)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Income
    per common share</B></FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14.55)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Diluted</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Weighted
    average common shares outstanding</B></FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71,581</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Diluted</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">The accompanying notes are an integral part of these
audited financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">-F3-</FONT></P>

<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; color: blue"><A HREF="#table"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Table
of Contents</U></FONT></A></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Next Meats
Co., Ltd.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Statement
of Changes in Stockholders&rsquo; Equity (Deficit)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>For the
Period June 1, 2020 to April 30, 2021</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>(Audited)&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; width: 35%; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 10%; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Common
    Shares</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 8%; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Par
    Value Common Shares&nbsp;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 9%; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Additional
    Paid-in Capital</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 13%; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Accumulated
    Other Comprehensive Income</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 11%; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Accumulated
    Deficit</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 8%; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Balances,
    June 1, 2020</B>&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>-</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common
    shares issued at reorganization</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">80</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">37,182</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><P STYLE="font: 10pt/11.75pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 10pt/11.75pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</P></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">37,182</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock
    split</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">79,920</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common
    shares sold</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">29,200</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14,014</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,987,503</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,001,516</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
    loss</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(162,263)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(162,263)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Foreign
    currency translation</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(25,447)</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(25,447)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Balances,
    January 31, 2021</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">109,200</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">51,195</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,987,503</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(25,447)</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(162,263)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,850,988</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common
    shares sold</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,567</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,178</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,068,499</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,069,678</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
    loss</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(879,486)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(879,486)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Foreign
    currency translation</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(44,614)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(44,614)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Balances,
    April 30, 2021</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">111,767</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">52,374</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,056,002</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(70,061)</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,041,749)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,996,566</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">The accompanying notes are an integral part of these
audited financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">-F4-</FONT></P>

<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; color: blue"><A HREF="#table"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Table
of Contents</U></FONT></A></P>


<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="text-transform: uppercase"><B>NEXT MEATS CO., LTD.</B></FONT></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="text-transform: uppercase"><B>STATEMENT OF CASH FLOWS</B></FONT></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="text-transform: uppercase"><B>(Audited)</B></FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
    the Year Ended</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">April
    30, 2021</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CASH
    FLOWS FROM OPERATING ACTIVITIES</FONT></TD>
    <TD STYLE="text-align: center; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
    income</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,041,749)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Adjustments
    to reconcile net loss to net cash provided by (used in) operating activities:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation
    and amortization</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,711</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes
    in operating assets and liabilities:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts
    receivable</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(263,471)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Advance
    payments and other prepaid expense</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38,954)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventories</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(249,434)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts
    payable</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">482,657</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts
    payable &ndash; related party</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,829</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income
    tax payables</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,679</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
    current liabilities</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
    cash used in operating activities</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 2.25pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,099,732)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CASH
    FLOWS FROM INVESTING ACTIVITIES</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;Cash
    paid for purchase of fixed assets</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(728,383)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;Net
    cash used in investing activities</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(728,383)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CASH
    FLOWS FROM FINANCING ACTIVITIES</FONT></TD>
    <TD STYLE="text-align: center; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock
    issuance</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,108,376</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
    cash provided by (used in) financing activities</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,108,376</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
    effect of exchange rate changes on cash</FONT></TD>
    <TD STYLE="text-align: center; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(70,061)</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
    Change in Cash and Cash Equivalents</FONT></TD>
    <TD STYLE="text-align: center; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,210,200</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash
    and cash equivalents - beginning of period</FONT></TD>
    <TD STYLE="text-align: center; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash
    and cash equivalents - end of period</FONT></TD>
    <TD STYLE="text-align: center; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 2.5pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,210,200</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SUPPLEMENTAL
    DISCLOSURES OF CASH FLOW INFORMATION</FONT></TD>
    <TD STYLE="text-align: center; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest
    paid</FONT></TD>
    <TD STYLE="text-align: center; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income
    taxes paid</FONT></TD>
    <TD STYLE="text-align: center; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    </TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>
<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">The accompanying notes are an integral part of these
audited financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">-F5-</FONT></P>

<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; color: blue"><A HREF="#table"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Table
of Contents</U></FONT></A></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>NEXT MEATS
CO., Ltd.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>NOTES TO FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>APRIL 30, 2021</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;(AUDITED)</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Next Meats Co., Ltd. (&ldquo;the Company&rdquo;)
was incorporated on June 1, 2020, in Tokyo, Japan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>Description of Business</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The purpose of the Company shall be to engage in
the following business activities:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; color: #222222"><TR STYLE="vertical-align: top">
<TD STYLE="width: 39pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 10pt">1.</FONT></TD><TD><FONT STYLE="font-size: 10pt">Import,
                                            sales, planning and manufacturing of various food products</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; color: #222222"><TR STYLE="vertical-align: top">
<TD STYLE="width: 39pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 10pt">2.</FONT></TD><TD><FONT STYLE="font-size: 10pt">Wholesale
                                            and retail sale of food products</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; color: #222222"><TR STYLE="vertical-align: top">
<TD STYLE="width: 39pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 10pt">3.</FONT></TD><TD><FONT STYLE="font-size: 10pt">Trading
                                            business</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; color: #222222"><TR STYLE="vertical-align: top">
<TD STYLE="width: 39pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 10pt">4.</FONT></TD><TD><FONT STYLE="font-size: 10pt">Planning
                                            and management of events for advertising and PR activities</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; color: #222222"><TR STYLE="vertical-align: top">
<TD STYLE="width: 39pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 10pt">5.</FONT></TD><TD><FONT STYLE="font-size: 10pt">Consulting
                                            services</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The main office of the Company is located in Shinjuku
Ward, Tokyo, Japan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&rsquo;s fiscal year-end is April 30th.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>Recent Developments</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">In January 2020, the World
Health Organization (the &ldquo;WHO&rdquo;) announced a global health emergency because of a new strain of coronavirus (&ldquo;COVID-19&rdquo;)
originating in Wuhan, China and the risks to the international community as the virus spread globally beyond its point of origin. In
March 2020, the WHO classified the COVID-19 outbreak as a pandemic based on the rapid increase in global exposure.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Our operations have not
been significantly impacted. No impairments were recorded as of April 30, 2021 and no triggering events or changes in circumstances had
occurred. However, the full impact of the COVID-19 pandemic continues to evolve subsequent to the fiscal year ended April 30, 2021 and
as of the date these financial statements are issued. As such, the full magnitude of the COVID-19 pandemic, and the resulting impact,
if any, on the Company&rsquo;s financial condition, liquidity, and future results of operations is uncertain. Management is actively
monitoring the global situation on our financial condition, liquidity, operations, suppliers, industry, and customers. Reduced demand
for products or impaired ability to meet customer demand (including as a result of disruptions at the Company&rsquo;s suppliers) could
have a material adverse effect on its business operations and financial performance. Given the daily evolution of the COVID-19 pandemic
and the global responses to curb its spread, the Company is not presently able to estimate the effects of the COVID-19 pandemic on its
results of operations, financial condition, or liquidity for the current fiscal year. As of the date of this filing, the Company&rsquo;s
recently commenced business operations have not been impacted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><B>Note 2 &ndash; Basis of Presentation and Significant Accounting
Policies</B></P>

<P STYLE="font: 10pt/10.6pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Basis of Presentation</B></P>

<P STYLE="font: 10pt/10.6pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/10.6pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This summary of significant accounting policies
is presented to assist in understanding the Company's financial statements. These accounting policies conform to accounting principles,
generally accepted in the United States of America (&ldquo;US GAAP&rdquo;) and have been consistently applied in the preparation of the
financial statements.</P>

<P STYLE="font: 10pt/10.6pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><B>Income Tax</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Income taxes are provided for the tax effects of
transactions reported in the financial statements and consist of taxes currently due plus deferred taxes related primarily to differences
between the recorded book basis and the tax basis of assets and liabilities for financial and income tax reporting. Deferred tax assets
and liabilities represent the future tax return consequences of those differences, which will either be taxable or deductible when the
assets and liabilities are recovered or settled. Deferred taxes are also recognized for operating losses that are available to offset
future taxable income and tax credits that are available to offset future federal income taxes. The Company believes that its income
tax filing positions and deductions will be sustained on audit and does not anticipate any adjustments that will result in a material
adverse effect on the Company&rsquo;s financial condition, results of operations, or cash flow. Therefore, no reserves for uncertain
income tax positions have been recorded pursuant to ASC 740.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"><B>Fair Value of Financial Instruments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">The Company&rsquo;s balance sheet includes
certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of
the relatively short period of time between the origination of these instruments and their expected realization.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">ASC 820,&nbsp;<I>Fair Value Measurements and Disclosures&nbsp;</I>(&ldquo;ASC
820&rdquo;), defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price)
in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the
measurement date. ASC 820 also establishes a fair value hierarchy that distinguishes between (1)&nbsp;market participant assumptions
developed based on market data obtained from independent sources (observable inputs) and (2)&nbsp;an entity&rsquo;s own assumptions about
market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair
value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical
assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy
are described below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10px; font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 10px; font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Symbol; font-size: 12pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level
    1 &ndash; Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets
    or liabilities.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 11px; font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 11px; font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Symbol; font-size: 12pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level
    2 &ndash; Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly
    or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar
    assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability
    (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or
    other means.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 11px">&nbsp;</TD>
    <TD STYLE="width: 11px"><FONT STYLE="font-family: Symbol; font-size: 12pt">&#183;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3 - Inputs that are
    both significant to the fair value measurement and unobservable.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Fair value estimates discussed herein are based upon
certain market assumptions and pertinent information available to management as of April 30, 2021. The respective carrying value of certain
on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial
instruments include accrued expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Share-Based Compensation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company measures the cost of services received
in exchange for an award of equity instruments based on the fair value of the award. For employees and directors and non-employees, the
fair value of the award is measured on the grant date. The fair value amount is then recognized over the period during which services
are required to be provided in exchange for the award, usually the vesting period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Company&rsquo;s stock-based compensation for the period ended April
30, 2021 was $0.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">-F6-</FONT></P>

<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; color: blue"><A HREF="#table"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Table
of Contents</U></FONT></A></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt"><B>Recently Adopted Accounting Pronouncements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; background-color: white"><FONT STYLE="color: #333333">The
Company has adopted the Financial Accounting Standards Board (&ldquo;FASB&rdquo;) Accounting Standards Codification (&ldquo;ASC&rdquo;)
Topic 350 provides guidance on financial accounting and reporting related to franchise rights and other intangibles for U.S. GAAP. Per
ASC 350, originally issued as Financial Accounting Standards No. 142 in June 2001 and subsequently updated by Accounting Standards Update
(&ldquo;ASU&rdquo;) 2010-28, franchise rights are not amortized, but tested for impairment at the reporting unit level (the operating
segment or one level below). Under the rules, if conditions exist that it is &ldquo;more likely than not&rdquo; that fair value of reporting
unit is less than its carrying value, then a two-step impairment test is performed to identify potential franchise rights impairment
and measure the amount of loss to be recognized (if any). This franchise rights impairment test is required at least annually, or more
frequently if certain events occur and circumstances change. </FONT>No impairments were recorded as of April 30, 2021. Management determined
that there has been no significant reduction in the fair market value of the franchise rights and no triggering events or changes in
circumstances had occurred to require an impairment test.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; background-color: white"><B>Note 3 - Going
Concern</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; background-color: white">The Company&rsquo;s
financial statements are prepared in accordance with GAAP applicable to a going concern that contemplates the realization of assets and
liquidation of liabilities in the normal course of business. The Company considered its going concern disclosure requirements in accordance
with ASC 240-40-50.</P>

<P STYLE="font: 10pt/10.6pt Times New Roman, Times, Serif; margin: 0 0 0pt">The Company did not generate sufficient revenue to cover
operating expenses during the period ended April 30, 2021. Management plans to fund some operating expenses with related party loans
and/or the sale of shares of stock until the Company realizes sufficient revenue to cover operating expenses. There is no assurance that
management's plan will be successful.</P>

<P STYLE="font: 10pt/10.6pt Times New Roman, Times, Serif; margin: 0 0 0pt">&nbsp;</P>

<P STYLE="font: 10pt/10.6pt Times New Roman, Times, Serif; margin: 0 0 0pt">The financial statements do not include any adjustments relating
to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary
if the Company cannot continue as a going concern.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
4 - Income Tax</B></FONT><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/10.5pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white">&nbsp;The Company has not recognized
an income tax benefit for its operating losses generated based on uncertainties concerning its ability to generate taxable income in
future periods. The tax benefit for the period presented is offset by a valuation allowance established against deferred tax assets arising
from the net operating losses, the realization of which could not be considered more likely than not. In future periods, tax benefits
and related deferred tax assets will be recognized when management considers realization of such amounts to be more likely than not.
As of April 30, 2021, the Company has incurred a net loss of approximately $1,041,749 which resulted in a net operating loss for income
tax purposes. &nbsp;The loss results in a deferred tax asset of approximately $218,767 at the effective statutory rate of 21%. The deferred
tax asset has been offset by an equal valuation allowance. Given our inception on June 1, 2020, and our fiscal year end of April 30,
2021, we have not yet completed a taxable fiscal year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
5 - Commitments and Contingencies</B></FONT><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">The Company follows ASC 450-20,&nbsp;<I>Los</I>s<I>&nbsp;Contingencies,&nbsp;</I>to
report accounting for contingencies.&nbsp; Liabilities for loss contingencies arising from claims, assessments, litigation, fines and
penalties and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can
be reasonably estimated. There were no commitments or contingencies as of April 30, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Note 6 -
Stockholder Equity</B></FONT>&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Stock Split</I></B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">On August 24, 2020 there was a 1,000:1 stock split resulting in an increase
in shares outstanding from 80 to 80,000. At this time it was decided in a shareholders meeting to change the par value of commons shares
from 50,000 JPY to 50 JPY.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Common Shares Issued</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">On June 1, 2020, 80 shares of common stock
were issued to Hideyuki Sasaki at par value of 50,000 JPY.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the period&#9; ended April 30, 2021, 31,767
shares of common stock were sold to ten shareholders for proceeds totaling $9,071,194.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
7 - Related-Party Transactions</B></FONT><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Common shares</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the period&#9; ended April 30, 2021, 22,000
shares of common stock were sold to related party White Knight Co., Ltd (&ldquo;White Knight&rdquo;). White Knight is controlled by our
director, Koichi Ishizuka. &nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Loan to Company</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the period ended April 30, 2021, a related
party paid an expense on behalf of the Company totaling $2,829. This payment is considered a loan to the Company and is bearing 1% annual
interest and payable April 15, 2023. The loan is unsecured.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B>&nbsp;&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
8 - Subsequent Events</B></FONT><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">None.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">-F7-</FONT></P>

<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; color: blue"><A HREF="#table"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Table
of Contents</U></FONT></A></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom"><TD COLSPAN="6" STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NEXT
    MEATS CO., LTD.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>BALANCE SHEETS</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>(Unaudited)</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 73%; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 2%; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 11%; padding-right: 4.95pt; padding-left: 4.95pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">October 31,</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">2021</P></TD>
    <TD STYLE="white-space: nowrap; width: 2%; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 11%; padding-right: 4.95pt; padding-left: 4.95pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">April 30,</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">2021</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ASSETS</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current
    Assets</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash
    and cash equivalents</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,608,004</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,210,200</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts
    receivable, trade</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">301,035</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">144,809</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Advance
    payments and prepaid expenses</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,194,674</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">38,954</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts
    receivable, other</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">89,597</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">118,662</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventories</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">980,605</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">249,434</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TOTAL
    CURRENT ASSETS</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,173,915</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,762,059</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-current
    assets</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Furniture,
    fixtures and equipment, net</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">204,903</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">206,468</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Construction
    in progress</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">318,802</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">169,325</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Land
    and improvements</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,246,488</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">486,268</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">316,717</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Long
    term prepaid expenses and security deposits, net</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23,440</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">31,161</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TOTAL
    NON-CURRENT ASSETS</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,279,901</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">723,671</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TOTAL
    ASSETS</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,453,817</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,485,731</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">LIABILITIES
    AND SHAREHOLDERS' EQUITY</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current
    Liabilities</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accrued
    expenses and other payables</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,317,665</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">482,657</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income
    tax payable</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">395,589</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,679</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due
    to related party</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">751</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,829</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TOTAL
    CURRENT LIABILITIES</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,714,005</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">489,165</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Noncurrent
    Liabilities</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307,909</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TOTAL
    NONCURRENT LIABILITIES</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307,909</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TOTAL
    LIABILITIES</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,021,904</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">489,165</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shareholders'
    Equity</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common
    stock (50 JPY par value, 2,000,000,000 shares authorized,</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">111,767
    shares issued and outstanding as of October 31, 2021 and April 30, 2021)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">52,374</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">52,374</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additional
    paid-in capital</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,056,002</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,056,002</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accumulated
    deficit</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3,344,221)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,041,749)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accumulated
    other comprehensive income(loss)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(332,251)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(70,061)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TOTAL
    SHAREHOLDERS' EQUITY</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,431,904</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,996,556</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TOTAL
    LIABILITIES AND SHAREHOLDERS' EQUITY</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,453,817</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8,485,731</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="6" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    accompanying notes are an integral part of these unaudited financial statements.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">-F8-</FONT></P>

<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="font: 10pt Times New Roman, Times, Serif; color: blue; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Table
of Contents </U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="11" STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NEXT
    MEATS CO., LTD.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="11" STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>STATEMENTS
    OF OPERATIONS AND COMPREHENSIVE INCOME</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="11" STYLE="text-align: center; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>(Unaudited)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 124px; padding-right: 4.95pt; padding-left: 4.95pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the Three</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Months Ended October 31,</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">2021</P></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 142px; padding-right: 4.95pt; padding-left: 4.95pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the Three</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Months Ended</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">October 31,</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">2020</P></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 82px"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the Six Months Ended October 31, 2021</P></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 76px"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the Period June 1, 2020 (Inception) to October
    31, 2020</P></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenues</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,815,510</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">72,348</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">5,184,080</P></TD>
    <TD STYLE="vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">$</P></TD>
    <TD STYLE="vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">72,348</P></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cost
    of revenues</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,805,247</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">52,081</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,075,142</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">52,081</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Gross
    profit</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10,262</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,267</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">108,938</P></TD>
    <TD STYLE="vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">$</P></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">20,267</P></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">OPERATING
    EXPENSE</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">General
    and administrative expenses</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,146,911</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">75,972</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,344,362</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">95,364</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13,139</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24,750</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
    operating expenses</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,160,051</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">75,972</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,369,112</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">95,364</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Income
    (loss) from operations</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,149,788)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55,706)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2,260,174)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">75,097</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
    income (expense)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest
    expense</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(966)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,484)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other
    expense</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,098</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">37</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,407</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">37</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
    income</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,016)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2,049)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
    other income (expenses)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(883)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">37</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">2,873</P></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0.25in">37</P></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Net
    income (loss) before tax</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,150,671)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(55,668)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2,257,301)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(75,060)</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income
    tax expense</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(237)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">45,171</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NET
    INCOME (LOSS)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,150,434)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55,668)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2,302,472)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(75,060)</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD COLSPAN="4" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">OTHER
    COMPREHENSIVE INCOME (LOSS)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Foreign
    currency translation adjustment</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(216,884)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,139</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(262,190)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,505</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-top: Black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>TOTAL
    COMPREHENSIVE INCOME (LOSS)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,367,318)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(49,529)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt double"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">(2,564,662)</P></TD>
    <TD STYLE="vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">$</P></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt double"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">(68,555)</P></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Income
    per common share</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10.29)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.86)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt double"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0.5in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0.5in">(59.26)</P></TD>
    <TD STYLE="vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">$</P></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt double"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0.5in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0.5in">(0.67)</P></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Diluted</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Weighted
    average common shares outstanding</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111,767</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">64,559</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">38,852</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">111,767</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Diluted</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="11" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    accompanying notes are an integral part of these unaudited financial statements.</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">-F9-</FONT></P>

<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; color: blue"><A HREF="#table"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Table
of Contents</U></FONT></A></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Next Meats
Co., Ltd.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Statement
of Changes in Stockholders&rsquo; Equity (Deficit)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>For the
Period June 1, 2020 (Inception) to October 31, 2021</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; width: 33%; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 9%; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Common
    Shares</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 8%; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Par
    Value Common Shares&nbsp;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 9%; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Additional
    Paid-in Capital</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 1%; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 13%; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Accumulated
    Other Comprehensive Income</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 11%; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Accumulated
    Deficit</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 9%; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Balances,
    June 1, 2020</B>&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>-</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common
    shares issued at reorganization</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">80</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">37,182</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><P STYLE="font: 11pt/11.75pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 11pt/11.75pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><P STYLE="font: 10pt/11.75pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 10pt/11.75pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</P></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">37,182</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock
    split</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">79,920</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common
    shares sold</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">31,767</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15,192</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,056,002</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,071,194</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
    loss</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,041,749)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,041,749)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Foreign
    currency translation</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(70,061)</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(70,061)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Balances,
    April 30, 2021</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">111,767</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">52,374</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,056,002</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(70,061)</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,041,749)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,996,566</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
    loss</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,152,038)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,152,038)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Foreign
    currency translation</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(45,306)</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(45,306)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Balances,
    July 31, 2021</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">111,767</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">52,374</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,056,002</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(115,367)</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2,193,787)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,799,222</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
    loss</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,150,434)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,150,434)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Foreign
    currency translation</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(216,884)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(216,884)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Balances,
    October 31, 2021</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt; vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">111,767</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">52,374</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,056,002</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(332,251)</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3,344,221)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,431,904</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Next Meats
Co., Ltd.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Statement
of Changes in Stockholders&rsquo; Equity (Deficit)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>For the
Period June 1, 2020 (Inception) to October 31, 2020</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; width: 38%; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 8%; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Common
    Shares</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 8%; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Par
    Value Common Shares&nbsp;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 8%; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Additional
    Paid-in Capital</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 1%"><P STYLE="font: 10pt/11.75pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt/11.75pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Common Stock Payable</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 13%; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Accumulated
    Other Comprehensive Income</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 11%; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Accumulated
    Deficit</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 6%; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Balances,
    June 1, 2020</B>&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid"><P STYLE="font: 10pt/11.75pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt/11.75pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>$</B></P></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid"><P STYLE="font: 10pt/11.75pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt/11.75pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>-</B></P></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid"><P STYLE="font: 10pt/11.75pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt/11.75pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>-</B></P></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid"><P STYLE="font: 10pt/11.75pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt/11.75pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>$</B></P></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>-</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common
    shares issued at reorganization</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">80</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">37,182</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><P STYLE="font: 11pt/11.75pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 11pt/11.75pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">-</P></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><P STYLE="font: 10pt/11.75pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 10pt/11.75pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</P></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">37,182</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
    loss</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(19,391)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(19,391)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Foreign
    currency translation</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt">-</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">366</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Balances,
    July 31, 2020</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">80</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">37,182</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">366</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(19,391)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18,156</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common
    shares issued (par value @50 JPY)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">87,120</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">33,888</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">33,889</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><P STYLE="font: 11pt/11.75pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 11pt/11.75pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">-</P></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><P STYLE="font: 10pt/11.75pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 10pt/11.75pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</P></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">67,777</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash
    received for common stock payable</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><P STYLE="font: 10pt/11.75pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 10pt/11.75pt Times New Roman, Times, Serif; margin: 0; text-align: center">462,701</P></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><P STYLE="font: 10pt/11.75pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 10pt/11.75pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</P></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">462,701</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
    loss</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(55,669)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(55,669)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Foreign
    currency translation</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,139</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,139</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Balances,
    October 31, 2020</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; line-height: 11.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">87,200</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">71,070</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">33,889</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">462,701</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,505</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(75,060)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; text-align: center; line-height: 11.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">499,105</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0">The accompanying notes are an
integral part of these unaudited financial statements.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-F10-</FONT></P>

<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; color: blue"><FONT STYLE="font-size: 10pt"><A HREF="#table"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Table
of Contents</U></FONT></A></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom"><TD COLSPAN="6" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>NEXT MEATS CO., LTD.</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>STATEMENT
    OF CASH FLOWS</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>(Unaudited)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 20%; padding-right: 4.95pt; padding-left: 4.95pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Six Months</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Ended October 31, 2021</P></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 20%; padding-right: 4.95pt; padding-left: 4.95pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the Period</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">June 1, 2020 (Inception)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">to October 31, 2020</P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CASH
    FLOWS FROM OPERATING ACTIVITIES</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
    income</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2,302,472)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(75,060)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Adjustments
    to reconcile net loss to net cash provided by (used in) operating activities:</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation
    and amortization</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24,750</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes
    in operating assets and liabilities:</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts
    receivable</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(127,161)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(26,851)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accrued
    expenses and other payables</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,835,008</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,958</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Advance
    payments and other prepaid expense</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2,143,419)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">41,770</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventories</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(731,171)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts
    payable &ndash; related party</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2,078)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,731</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Security
    deposit</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4,580)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income
    tax payable</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">391,910</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
    cash used in operating activities</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 2.25pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3,059,214)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1.5pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(48,451)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CASH
    FLOWS FROM INVESTING ACTIVITIES</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;Cash
    paid for land and improvements</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,395,964)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
    Cash paid for purchase of fixed assets</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(23,184)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;Cash
    paid for stock</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(169,551)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;Net
    cash used in investing activities</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,588,700)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CASH
    FLOWS FROM FINANCING ACTIVITIES</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307,909</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock
    issuance</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">104,959</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
    cash provided by financing activities</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">307,909</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">104,959</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
    effect of exchange rate changes on cash</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(262,190)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,505</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
    Change in Cash and Cash Equivalents</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4,602,196)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">63,013</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash
    and cash equivalents - beginning of period</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,210,200</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash
    and cash equivalents - end of period</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,608,004</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">63,013</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="4" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SUPPLEMENTAL
    DISCLOSURES OF CASH FLOW INFORMATION</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest
    paid</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,484</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income
    taxes paid</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="6" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="6" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NON-CASH
    INVESTING AND FINANCING TRANSACTIONS</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="6" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="6" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    accompanying notes are an integral part of these unaudited financial statements.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">-F11-</FONT></P>

<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; color: blue"><A HREF="#table"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Table
of Contents</U></FONT></A></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>NEXT MEATS
CO., LTD.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>NOTES TO FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>OCTOBER 31, 2021</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;(UNAUDITED)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Next Meats Co., Ltd. (&ldquo;the Company&rdquo;)
was incorporated on June 1, 2020, in Tokyo, Japan.</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>Description of Business</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The purpose of the Company shall be to engage in
the following business activities:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; color: #222222"><TR STYLE="vertical-align: top">
<TD STYLE="width: 39pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 10pt">1.</FONT></TD><TD><FONT STYLE="font-size: 10pt">Import,
                                            sales, planning and manufacturing of various food products;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; color: #222222"><TR STYLE="vertical-align: top">
<TD STYLE="width: 39pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 10pt">2.</FONT></TD><TD><FONT STYLE="font-size: 10pt">Wholesale
                                            and retail sale of food products;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; color: #222222"><TR STYLE="vertical-align: top">
<TD STYLE="width: 39pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 10pt">3.</FONT></TD><TD><FONT STYLE="font-size: 10pt">Trading
                                            business;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; color: #222222"><TR STYLE="vertical-align: top">
<TD STYLE="width: 39pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 10pt">4.</FONT></TD><TD><FONT STYLE="font-size: 10pt">Planning
                                            and management of events for advertising and PR activities;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; color: #222222"><TR STYLE="vertical-align: top">
<TD STYLE="width: 39pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 10pt">5.</FONT></TD><TD><FONT STYLE="font-size: 10pt">Consulting
                                            services.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The main office of the Company is located in Shinjuku
Ward, Tokyo, Japan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&rsquo;s fiscal year-end is April 30th.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>Recent Developments</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">In January 2020, the World
Health Organization (the &ldquo;WHO&rdquo;) announced a global health emergency because of a new strain of coronavirus (&ldquo;COVID-19&rdquo;)
originating in Wuhan, China and the risks to the international community as the virus spread globally beyond its point of origin. In
March 2020, the WHO classified the COVID-19 outbreak as a pandemic based on the rapid increase in global exposure.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; background-color: white">Our operations have
not been significantly impacted. No impairments were recorded as of October 31, 2021 and no triggering events or changes in circumstances
had occurred. However, the full impact of the COVID-19 pandemic continues to evolve subsequent to the period ended October 31, 2021 and
as of the date these financial statements are issued. As such, the full magnitude of the COVID-19 pandemic, and the resulting impact,
if any, on the Company&rsquo;s financial condition, liquidity, and future results of operations is uncertain. Management is actively
monitoring the global situation on our financial condition, liquidity, operations, suppliers, industry, and customers. Reduced demand
for products or impaired ability to meet customer demand (including as a result of disruptions at the Company&rsquo;s suppliers) could
have a material adverse effect on its business operations and financial performance. Given the daily evolution of the COVID-19 pandemic
and the global responses to curb its spread, the Company is not presently able to estimate the effects of the COVID-19 pandemic on its
results of operations, financial condition, or liquidity for the current fiscal year. As of the date of this filing, the Company&rsquo;s
recently commenced business operations have not been impacted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><B>Note 2 &ndash; Basis of Presentation and Significant Accounting
Policies</B></P>

<P STYLE="font: 10pt/10.6pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/10.6pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"><B>Basis of Presentation</B></P>

<P STYLE="font: 10pt/10.6pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/10.6pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">This summary of significant accounting
policies is presented to assist in understanding the Company's financial statements. These accounting policies conform to accounting
principles, generally accepted in the United States of America (&ldquo;US GAAP&rdquo;) and have been consistently applied in the preparation
of the financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><B>Income Tax</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Income taxes are provided for the tax effects
of transactions reported in the financial statements and consist of taxes currently due plus deferred taxes related primarily to differences
between the recorded book basis and the tax basis of assets and liabilities for financial and income tax reporting. Deferred tax assets
and liabilities represent the future tax return consequences of those differences, which will either be taxable or deductible when the
assets and liabilities are recovered or settled. Deferred taxes are also recognized for operating losses that are available to offset
future taxable income and tax credits that are available to offset future federal income taxes. The Company believes that its income
tax filing positions and deductions will be sustained on audit and does not anticipate any adjustments that will result in a material
adverse effect on the Company&rsquo;s financial condition, results of operations, or cash flow. Therefore, no reserves for uncertain
income tax positions have been recorded pursuant to ASC 740.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"><B>Fair Value of Financial Instruments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">The Company&rsquo;s balance sheet includes
certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of
the relatively short period of time between the origination of these instruments and their expected realization.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">ASC 820,&nbsp;<I>Fair Value Measurements and Disclosures&nbsp;</I>(&ldquo;ASC
820&rdquo;), defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price)
in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the
measurement date. ASC 820 also establishes a fair value hierarchy that distinguishes between (1)&nbsp;market participant assumptions
developed based on market data obtained from independent sources (observable inputs) and (2)&nbsp;an entity&rsquo;s own assumptions about
market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair
value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical
assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy
are described below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10px; font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 10px; font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Symbol; font-size: 12pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level
    1 &ndash; Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets
    or liabilities.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 11px">&nbsp;</TD>
    <TD STYLE="width: 11px"><FONT STYLE="font-family: Symbol; font-size: 12pt">&#183;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2 &ndash; Inputs
    other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including
    quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in
    markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates);
    and inputs that are derived principally from or corroborated by observable market data by correlation or other means.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 11px">&nbsp;</TD>
    <TD STYLE="width: 11px"><FONT STYLE="font-family: Symbol; font-size: 12pt">&#183;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3 - Inputs that are
    both significant to the fair value measurement and unobservable.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Fair value estimates discussed herein are based upon
certain market assumptions and pertinent information available to management as of October 31, 2021. The respective carrying value of
certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These
financial instruments include accrued expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Share-Based Compensation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company measures the cost of services received
in exchange for an award of equity instruments based on the fair value of the award. For employees and directors and non-employees, the
fair value of the award is measured on the grant date. The fair value amount is then recognized over the period during which services
are required to be provided in exchange for the award, usually the vesting period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Company&rsquo;s stock-based compensation for the periods ended October
31, 2021 and October 31, 2020 was $0 for both periods.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">-F12-</FONT></P>

<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; color: blue"><A HREF="#table"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Table
of Contents</U></FONT></A></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt"><B>Recently Adopted Accounting Pronouncements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; background-color: white"><FONT STYLE="color: #333333">The
Company has adopted the Financial Accounting Standards Board (&ldquo;FASB&rdquo;) Accounting Standards Codification (&ldquo;ASC&rdquo;)
Topic 350 provides guidance on financial accounting and reporting related to franchise rights and other intangibles for U.S. GAAP. Per
ASC 350, originally issued as Financial Accounting Standards No. 142 in June 2001 and subsequently updated by Accounting Standards Update
(&ldquo;ASU&rdquo;) 2010-28, franchise rights are not amortized, but tested for impairment at the reporting unit level (the operating
segment or one level below). Under the rules, if conditions exist that it is &ldquo;more likely than not&rdquo; that fair value of reporting
unit is less than its carrying value, then a two-step impairment test is performed to identify potential franchise rights impairment
and measure the amount of loss to be recognized (if any). This franchise rights impairment test is required at least annually, or more
frequently if certain events occur and circumstances change. </FONT>No impairments were recorded as of October 31, 2021. Management determined
that there has been no significant reduction in the fair market value of the franchise rights and no triggering events or changes in
circumstances had occurred to require an impairment test.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; background-color: white"><B>Note 3 &ndash;
Going Concern</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; background-color: white">The Company&rsquo;s
financial statements are prepared in accordance with GAAP applicable to a going concern that contemplates the realization of assets and
liquidation of liabilities in the normal course of business. The Company considered its going concern disclosure requirements in accordance
with ASC 240-40-50.</P>

<P STYLE="font: 10pt/10.6pt Times New Roman, Times, Serif; margin: 0 0 0pt">The Company did not generate sufficient revenue to cover
operating expenses during the period ended April 30, 2021. Management plans to fund some operating expenses with related party loans
and/or the sale of shares of stock until the Company realizes sufficient revenue to cover operating expenses. There is no assurance that
management's plan will be successful.</P>

<P STYLE="font: 10pt/10.6pt Times New Roman, Times, Serif; margin: 0 0 0pt">&nbsp;</P>

<P STYLE="font: 10pt/10.6pt Times New Roman, Times, Serif; margin: 0 0 0pt">The financial statements do not include any adjustments relating
to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary
if the Company cannot continue as a going concern.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
4 &ndash; Income Tax</B></FONT><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt">&nbsp;</P>

<P STYLE="font: 10pt/10.5pt Times New Roman, Times, Serif; margin: 0 0 0pt; background-color: white">&nbsp;The Company has not recognized
an income tax benefit for its operating losses generated based on uncertainties concerning its ability to generate taxable income in
future periods. The tax benefit for the period presented is offset by a valuation allowance established against deferred tax assets arising
from the net operating losses, the realization of which could not be considered more likely than not. In future periods, tax benefits
and related deferred tax assets will be recognized when management considers realization of such amounts to be more likely than not.
As of October 31, 2021, the Company has incurred a net loss of approximately $3,344,221 which resulted in a net operating loss for income
tax purposes. &nbsp;The loss results in a deferred tax asset of approximately $702,286 at the effective statutory rate of 21%. The deferred
tax asset has been offset by an equal valuation allowance. Given our inception on June 1, 2020, and our fiscal year end of April 30,
2021, we have completed only one taxable fiscal year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
5 &ndash; Commitments and Contingencies</B></FONT><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">The Company follows ASC 450-20,&nbsp;<I>Los</I>s<I>&nbsp;Contingencies,&nbsp;</I>to
report accounting for contingencies.&nbsp; Liabilities for loss contingencies arising from claims, assessments, litigation, fines and
penalties and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can
be reasonably estimated. There were no commitments or contingencies as of October 31, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Note 6 &ndash;
Stockholder Equity</B></FONT>&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Stock Split</I></B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">On August 24, 2020 there was a 1,000:1 stock split resulting in an increase
in shares outstanding from 80 to 80,000. At this time it was decided in a shareholders meeting to change the par value of commons shares
from 50,000 JPY to 50 JPY.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Common Shares Issued</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">On June 1, 2020, 80 shares of common stock
were issued to Hideyuki Sasaki at par value of 50,000 JPY.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the period&#9; ended April 30, 2021, 31,767
shares of common stock were sold to ten shareholders for proceeds totaling $9,071,194.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
7 &ndash; Related-Party Transactions</B></FONT><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Common shares</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the period&#9; ended April 30, 2021, 22,000
shares of common stock were sold to related party White Knight Co., Ltd (&ldquo;White Knight&rdquo;). White Knight is controlled by our
director, Koichi Ishizuka. &nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Loan to Company</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the period ended April 30, 2021, a related
party paid an expense on behalf of the Company totaling $2,829. This payment is considered a loan to the Company and is bearing 1% annual
interest and payable April 15, 2023. The loan is unsecured.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the period ended October 31, 2021, related
parties paid expenses on behalf of the Company totaling $8,176 and the Company repaid $10,137, resulting in a net balance owed of $751
as of October 31, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"><B><I>&nbsp;</I></B>&nbsp;&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
8 - Subsequent Events</B></FONT><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">We were and are a party to the Share Cancellation
and Exchange Agreement entered into on June 9, 2021 and later consummated on December 16, 2021. The Share Cancellation and Exchange Agreement
is detailed herein beginning on page 4. Following the Effective Time of the aforementioned agreement, the parties listed in the chart
herein on page 5 ceased to be shareholders of Next Meats Co., Ltd. and the sole shareholder of Next Meats Co., Ltd. became and is now
Next Meats Holdings, Inc., holding 1,000 shares of our common stock, which constitutes 100% of our issued and outstanding shares as of
the date of this report. At the Effective Time of the agreement, the shareholders who previously made up the shareholders of Next Meats
Co., Ltd., became shareholders of Next Meats Holdings, Inc., and were issued the respective quantities of shares of Next Meats Holdings,
Inc. as is noted in the table above on page 5.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">-F13-</FONT></P>

<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; color: blue"><A HREF="#table"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Table
of Contents</U></FONT></A></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">The following unaudited pro forma consolidated financial statements
are based on historical financial statements of Next Meats Co., Ltd. and Next Meats Holdings to give effect to the acquisition of Next
Meats Co., Ltd., as though it had occurred during the period ending October 31, 2021.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">The unaudited pro forma consolidated balance sheet as of October
31, 2021 gives effect to the acquisition of Next Meats Co., Ltd. as if it had occurred on October 31, 2021.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">The pro forma combined financial statements do not necessarily
reflect what the combined company&rsquo;s financial condition or results of operations would have been had the acquisition occurred on
the dates indicated. They also may not be useful in predicting the future financial condition and results of operations of the combined
company. The actual financial position and results of operations may differ significantly from the pro forma amounts reflected herein
due to a variety of factors.</P>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD COLSPAN="10" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NEXT
    MEATS HOLDINGS, INC.</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="10" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(UNAUDITED
    PRO FORMA CONSOLIDATED BALANCE SHEETS)</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 37%; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; width: 21%; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;NEXT
    MEATS HOLDINGS, INC.</FONT></TD>
    <TD STYLE="text-align: center; white-space: nowrap; width: 1%; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; width: 20%; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NEXT
    MEATS CO., LTD</FONT></TD>
    <TD STYLE="text-align: center; white-space: nowrap; width: 1%; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; width: 7%; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="text-align: center; white-space: nowrap; width: 1%; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; width: 9%; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consolidated</FONT></TD>
    <TD STYLE="text-align: center; width: 1%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: center; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">October
    31, 2021</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">October
    31, 2021</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;Pro
    Forma</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;Pro
    Forma</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Adjustment</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Result</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ASSETS</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt"><B>&#12288;</B></FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt"><B>&#12288;</B></FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt"><B>&#12288;</B></FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt"><B>&#12288;</B></FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt"><B>&#12288;</B></FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt"><B>&#12288;</B></FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt"><B>&#12288;</B></FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt"><B>&#12288;</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current
    Assets</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash
    and cash equivalents</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">65,887</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,608,004</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,673,891</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts
    receivable</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">794</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">390,633</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">391,427</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Advance
    payments and prepaid expenses</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,194,674</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,194,674</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventories</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,089</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">980,606</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">986,695</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TOTAL
    CURRENT ASSETS</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">72,770</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,173,917</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,246,687</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Furniture,
    fixtures and equipment, net</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
    </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">204,903</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">204,903</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Construction
    in progress</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">318,802</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">318,802</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Land
    and improvements</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,246,488</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,246,488</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187,500</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">486,268</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">673,768</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Long-term
    prepaid expenses and security deposits, net</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23,440</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23,440</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TOTAL
    NONCURRENT ASSETS</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">187,500</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,279,900</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,467,400</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TOTAL
    ASSETS</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">260,270</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,453,817</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,714,087</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">LIABILITIES
    AND SHAREHOLDERS&rsquo; DEFICIT</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current
    liabilities:</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accrued
    expenses and other payables</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11,402</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,317,664</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,329,066</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income
    tax payable</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">395,589</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">395,589</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due
    to related party</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">751</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">751</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TOTAL
    CURRENT LIABILITIES</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11,402</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,714,004</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,725,406</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Noncurrent
    liabilities:</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;Loans</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">307,909</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">307,909</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TOTAL
    NONCURRENT LIABILITIES</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">307,909</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">307,909</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TOTAL
    LIABILITIES</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt"><B>&#12288;</B></FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11,402</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,021,905</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,033,315</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SHAREHOLDERS&rsquo;
    DEFICIT</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preferred
    stock ($.001 par value, 20,000,000 shares authorized;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;none
    issued and outstanding as of October 31, 2021)&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common
    stock ($.001 par value, 500,000,000 shares authorized,</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">500,000,000
    shares&nbsp;issued and outstanding as of October 31, 2021)&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">500,000</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">-</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">500,000</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common
    stock (50 yen par value, 2,000,000,000 shares authorized,</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS PGothic,sans-serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">111,767
    shares issued and outstanding as of October 31, 2021</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">52,374</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(52,374)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-controlling
    interest</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">70,422</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">70,422</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additional
    paid in capital</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,880,332,215</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,056,002</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">52,374</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,889,440,591</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accumulated
    deficit</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5,880,653,436)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3,344,221)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5,883,997,657)</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accumulated
    other comprehensive income(loss)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(332)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(332,251)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;(332,583)</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TOTAL
    SHAREHOLDERS&rsquo; DEFICIT</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt"><B>&#12288;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">248,868</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,431,904</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,680,772</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TOTAL
    LIABILITIES &amp; STOCKHOLDERS&rsquo; DEFICIT</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">260,270</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,453,817</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,714,087</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-F14-</P>

<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="color: blue; font: 10pt Times New Roman, Times, Serif; margin: 0"><A HREF="#table"><U>Table of Contents</U></A></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD COLSPAN="10" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>
    <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NEXT
    MEATS HOLDINGS, INC.</B></FONT></P></TD></TR>
  <TR>
    <TD COLSPAN="10" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(UNAUDITED
    PRO FORMA CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 46%; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; white-space: nowrap; width: 11%; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; width: 3%; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; width: 4%; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; width: 19%; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; width: 1%; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; width: 6%; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; width: 1%; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; width: 8%; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;Pro
    Forma</FONT></TD>
    <TD STYLE="text-align: center; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
    <P STYLE="font: 9pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consolidated</FONT></P></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Adjustment</FONT></TD>
    <TD STYLE="text-align: center; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="text-align: center; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;NEXT
    MEATS HOLDINGS,INC.</FONT></TD>
    <TD STYLE="text-align: center; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NEXT
    MEATS CO., LTD.</FONT></TD>
    <TD STYLE="text-align: center; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="text-align: center; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><P STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
                                            the six months</FONT></P>
    <P STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ended</FONT></P></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><P STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
                                            the six months</FONT></P>
    <P STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ended</FONT></P></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><P STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
                                            the six months</FONT></P>
    <P STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ended</FONT></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">October
    31, 2021</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">October
    31, 2021</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">October
    31, 2021</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenues</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,184,080</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,184,080</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cost
    of Revenues</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,075,142</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,075,142</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gross
    Profit</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108,938</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108,938</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating
    Expenses</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;General
    and Administrative Expenses</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30,907</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,344,362</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,375,269</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;Depreciation</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24,750</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24,750</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
    Operating expenses</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">30,907</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,369,112</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,400,019</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
    Income</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,873</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,873</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
    Other income</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,873</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    &nbsp;&nbsp;&nbsp;2,873</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Net
    loss before tax</B></FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;(30,907)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2,257,301)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2,288,208)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income
    tax expense</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45,171</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45,171</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NET
    LOSS</B></FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1.5pt double; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30,907)</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2,302,472)</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1.5pt double; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1.5pt double; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2,333,379)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
    Comprehensive Income (Loss)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;Foreign
    currency translation adjustment </FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(262,190)</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(262,190)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;TOTAL
    COMPREHENSIVE INCOME (LOSS)</B></FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30,907)</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2,564,662)</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;$</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2,595,569)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt">&nbsp;</TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">BASIC
    AND DILUTED NET LOSS PER COMMON SHARE</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;(0.00)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59.26)</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;(0.00)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WEIGHTED
    AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC AND DILUTED</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">500,000,000</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38,852</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(38,852)</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 4.95pt; padding-left: 4.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 4.95pt; padding-left: 4.95pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">500,000,000</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">-F15-</FONT></P>

<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="color: blue; font: 10pt Times New Roman, Times, Serif; margin: 0"><A HREF="#table"><U>Table of Contents</U></A></P>

<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><A NAME="changes"></A>CHANGES
IN AND DISAGREEMENTS WITH ACCOUNTANTS ON</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>ACCOUNTING
AND FINANCIAL DISCLOSURE</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">None.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="item9"></A><B>ITEM
9.01 FINANCIAL STATEMENTS AND EXHIBITS</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Incorporated
herein by reference. Please refer to the above financial statements in their entirety beginning on page 17.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="sig"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>EXHIBITS
TO FORM 8-K</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="border-bottom: black 1.5pt solid; width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%"><B>Exhibit
    Number</B></FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; vertical-align: bottom; width: 85%; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%"><B>&nbsp;Description
    of Exhibit</B></FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">3.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%"><A HREF="https://www.sec.gov/Archives/edgar/data/1811530/000159991620000056/articlesofinc_turnkey.htm">Articles
    of Incorporation</A> (1)</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">3.11</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%"><A HREF="https://www.sec.gov/Archives/edgar/data/1811530/000159991620000120/exhibit_31amendment.htm">Amendment
    to our Certificate of Incorporation</A> (2)</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">3.12</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%"><A HREF="https://www.sec.gov/Archives/edgar/data/1811530/000159991621000004/namechange.htm">Amendment
    to our Certificate of Incorporation</A> (3)</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">3.2</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%"><A HREF="https://www.sec.gov/Archives/edgar/data/1811530/000159991620000056/bylaws.htm">Bylaws</A>
    (1)</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%">10.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 106%"><A HREF="https://www.sec.gov/Archives/edgar/data/1811530/000159991621000099/ex101.htm">Share
    Cancellation and Exchange Agreement</A> (4)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1) Filed
as an exhibit to the Company's Form 10-12G, as filed with the SEC on May 8, 2020, and incorporated herein by this reference.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">(2) Filed
as an exhibit to the Company's Form 8-K, as filed with the SEC on September 21, 2020, and incorporated herein by this reference.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">(3) Filed
as an exhibit to the Company's Form 8-K, as filed with the SEC on January 29, 2021, and incorporated herein by this reference.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">(4) Filed as an exhibit to the Company's Form 8-K, as filed with
the SEC on June 9, 2021, and incorporated herein by this reference.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>SIGNATURES</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Next Meats
Holdings, Inc.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dated:
December 16, 2021</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>By:
/s/ Ryo Shirai</U></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Ryo Shirai,</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chief
Executive Officer</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 242pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">-18-<B>&nbsp;</B></FONT></P>

<P STYLE="font: 11pt/105% Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>





</BODY>
</HTML>
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{"company-data": {"conformed-name": "Next Meats Holdings, Inc.", "cik": "0001811530", "assigned-sic": "6770", "irs-number": "854008709", "fiscal-year-end": "0430"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-56167", "film-number": "211496027"}, "business-address": {"street1": "3F 1-16-13 EBISU MINAMI", "street2": "SHIBUYA-KU", "city": "TOKYO", "state": "M0", "zip": "150-0022", "phone": "819060024978"}, "mail-address": {"street1": "3F 1-16-13 EBISU MINAMI", "street2": "SHIBUYA-KU", "city": "TOKYO", "state": "M0", "zip": "150-0022"}, "former-company": {"former-conformed-name": "Turnkey Solutions, Inc.", "date-changed": "20200507"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington,
D.
C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):
December 16, 2021
Next Meats Holdings, Inc.
(Exact
    name of registrant as specified in its charter)
Nevada
000-56167
85-4008709
(state
    or other jurisdiction of incorporation)
(Commission
    File Number)
(IRS
    Employer Identification Number)
3F 1-16-13 Ebisu Minami Shibuya-ku,
Tokyo Japan
150-0022
(address
    of principal executive offices)
(zip
    code)
81-90-6002-4978
(registrant's
    telephone number, including area code)
N/A
(former
    name or former mailing address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[
      ]
Written
    communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[
      ]
Soliciting
    material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[
      ]
Pre-commencement
    communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[
      ]
Pre-commencement
    communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of
the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company  [X]
If an
emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  [   ]
Note:
"We", "Us", "The Issuer", and or "The Company"
                                            refer to Next Meats Holdings, Inc., a Nevada Company.
FORWARD
LOOKING STATEMENTS
This
Current Report on Form 8-K contains forward-looking statements which involve risks and uncertainties, principally in the sections entitled
"Business", and "Management's Discussion and Analysis". All statements other than statements of historical
fact contained in this Current Report on Form 8-K, including statements regarding future events, our future financial performance, business
strategy and plans and objectives of management for future operations, are forward-looking statements. We have attempted to identify
forward-looking statements by terminology including "anticipates", "believes", "can", "continue",
"could", "estimates", "expects", "intends", "may", "plans", "potential",
"predicts", or "should", or the negative of these terms or other comparable terminology. Although we do not make
forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy. These statements
are only predictions and involve known and unknown risks, uncertainties and other factors that may appear in this Current Report on Form
8-K, which may cause our or our industry's actual results, levels of activity, performance or achievements expressed or implied
by these forward-looking statements to vary. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge
from time to time and it is not possible for us to predict all risk factors, nor can we address the impact of all factors on our business
or the extent to which any factor, or combination of factors, may cause our actual results to differ materially from those contained
in any forward-looking statements. All forward-looking statements included in this document are based on information available to us
on the date hereof, and we assume no obligation to update any such forward-looking statements, except as expressly required by law.
You
should not place undue reliance on any forward-looking statement, each of which applies only as of the date of this Current Report on
Form 8-K. Except as required by law, we undertake no obligation to update or revise publicly any of the forward-looking statements after
the date of this Current Report on Form 8-K to conform our statements to actual results or changed expectations.
All
dollar amounts used throughout this Report are in US Dollars, unless otherwise stated. All amounts in Japanese Yen used throughout this
Report are preceded by JPY, for example JPY 500, is referring to 500 Japanese Yen.
-1-
TABLE
OF CONTENTS
Page
Item
    2.01  Completion of Acquisition or Disposition of Assets
3
ITEM
    5.01 CHANGES IN CONTROL OF REGISTRANT
3
Item
    5.06  Change in shell company status
3
Business
4
Risk
    Factors
9
mANAGEMENT'S
    DISCUSSION AND ANALYSIS
9
SECURITY
    OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
10
DIRECTORS
    AND EXECUTIVE OFFICERS
11
EXECUTIVE
    COMPENSATION
13
CERTAIN
    RELATIONSHIPS AND RELATED TRANSACTIONS
14
Market
    Price of & dividends on the registrants common equity & related matters
16
LEGAL
    PROCEEDINGS
16
RECENT
    SALES OF UNREGISTERED SECURITIES
16
DESCRIPTION
    OF SECURITIES
16
INDEMNIFICATION
    OF OFFICERS AND DIRECTORS
17
FINANCIAL
    STATEMENTS AND SUPPLEMENTARY DATA
17
CHANGES
    IN AND DISAGREEMENTS WITH ACCOUNTANTS
18
Item
    9.01 Financial Statements And Exhibits
18
EXHIBITS
    AND SIGNATURES
18
-2-
Table of Contents
ITEM
2.01 COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS
As
                                            previously disclosed in our Form 8-K filed on June 9, 2021, we entered into a "Share
                                            Cancellation and Exchange Agreement" (referred to herein as "the Agreement")
                                            with Next Meats Co., Ltd. A full copy of the agreement is attached as Exhibit 10.1 to the
                                            aforementioned Form 8-K.
Next
Meats Co., Ltd. is referred to herein as "NMCO", and Next Meats Holdings, Inc., is referred to herein as "the Company",
and or "NXMH". The shareholders of Next Meats Co., Ltd., prior to effectiveness of the aforementioned agreement, are referred
to herein as "NMCO shareholders".
Pursuant
to the Agreement, and at the Effective Time of the Agreement, which is commensurate and equates to the filing of this Form 8-K, NXMH
shall acquire NMCO resulting in NMCO as a wholly owned subsidiary of NXMH.  Immediately prior to the effective time (defined below),
each NMCO shareholder shall cancel and exchange their percentile share interest in NMCO for an equivalent percentile share interest in
NXMH. The cancellation and exchange shall be conducted and equivalent pursuant to each NMCO shareholder's pro rata percentage set
forth in the table below (the "Cancellation and Exchange"). At the Effective Time, NMCO shall issue NXMH 1,000
shares of its common stock to NXMH resulting in NMCO as a wholly owned subsidiary of NXMH.
Effective Time:
The aforementioned
Agreement is to be effective commensurate with the filing of this Form 8-K
.
At the effective time, NMCO issued 1,000 shares
of its common stock to NXMH. As a result, Next Meats Co., Ltd. is now a 100% wholly owned subsidiary of the Company (NXMH).
The aforementioned parties intend
that the reorganization contemplated by this Agreement shall constitute a tax-free organization pursuant to Section 368(a)(1) of the
Internal Revenue Code.
The chart below indicates, amongst other data, the resulting issuance of shares of NXMH to each, now former, shareholder of Next Meats
Co., Ltd. following the Effective Time of the Share Cancellation and Exchange Agreement. Prior to the Effective Time, NMCO was comprised
of the following parties:
NAME
    OF SHAREHOLDER
APPROXIMATE
    PERCENTILE SHARES OWNED OF NMCO (PRIOR TO THE EFFECTIVE TIME)
SHARES
    OWNED OF NMCO (PRIOR TO EFFECTIVE TIME)
PRO
    RATA COMMON SHARES OF NXMH TO BE ISSUED TO NMCO SHAREHOLDER AT THE EFFECTIVE TIME
Ryo
    Shirai
33.4643%
37,402
163,088,842
Hideyuki
    Sasaki
33.4643%
37,402
163,088,842
White Knight
    Co., Ltd.
(owned
    and controlled by Koichi Ishizuka)
19.0575%
21,300
92,877,182
Koichi
    Ishizuka
4.2946%
4,800
20,930,069
Kiyoshi
    Noda
1.9666%
2,198
9,584,227
Rei
    Ishizuka
1.9666%
2,198
9,584,227
Michihito
    Inoue
1.4315%
1,600
6,976,690
Ryonetsu
    Kogyou co., ltd
(Represented
    by Mitsugu Kondo, CEO)
0.8947%
1,000
4,360,431
Hideya
    Marukawa
0.7158%
800
3,488,345
Keiichi
    Yogo
0.7158%
800
3,488,345
Tomonori
    Yoshinaga
0.5368%
600
2,616,259
SJ Capital
    Co., Ltd.
(Represented
    by Takeshi Sugisawa)
0.5073%
567
2,472,364
Okakichi
    Co., Ltd (Represented by Shigeru Okada, CEO)
0.3275%
366
1,595,918
CX Inc.
(Represented
    by Hiromichi Furui, CEO)
0.2988%
334
1,456,384
HEXEL Works,
    Inc.
(Represented
    by Yoichi Nagai, CEO)
0.2684%
300
1,308,129
THREWAYS,
    Inc.
(Represented
    by GENKI HIRAI, CEO)
0.0895%
100
436,044
Total
100.0000%
111,767
487,352,298
Following the Effective Time of
the Share Cancellation and Exchange Agreement, December 16, 2021, Next Meats Co., Ltd. became a 100% wholly owned subsidiary of the Company.
Next Meats Co., Ltd. is no longer our controlling shareholder and any shares previously held by Next Meats Co., Ltd. of the issuer have
subsequently been cancelled and returned to treasury, and are no longer deemed to be issued and outstanding.
The quantities of stock of NXMH,
detailed within the above table, have been issued to the respective parties pursuant to the Share Cancellation and Exchange Agreement.
Following the above, Ryo Shirai,
Hideyuki Sasaki, and Koichi Ishizuka (directly and indirectly through White Knight Co., Ltd.), collectively now own and control 439,984,935
shares of our common stock.
As of the current date, and following
the Share Cancellation and Exchange Agreement, we now have 500,000,000 shares of common stock issued and outstanding.
ITEM
                                            5.01 CHANGES IN CONTROL OF REGISTRANT
As noted above, and as a result of the consummation of the Share
Cancellation and Exchange Agreement, Ryo Shirai, Hideyuki Sasaki, and Koichi Ishizuka (directly and indirectly through White Knight Co.,
Ltd.), collectively now own and control approximately 439,984,935 shares of our common stock. We currently have a total of 500,000,000
shares of common stock issued and outstanding.
ITEM
                                            5.06 CHANGE IN SHELL COMPANY STATUS
Upon the
Effective Time of the Share Cancellation and Exchange Agreement, December 16, 2021, we ceased our status as a "shell company",
as defined in Rule 12b-2 under the Exchange Act of 1934, as amended (the "Exchange Act"). We now operate through Next Meats
Co., Ltd., a Japan Company, in addition to our existing subsidiary, NextMeats France, a French Company.
We also
retain approximately 40.6% voting control of Dr. Foods, Inc., a Nevada Company. Collectively, we along with White Knight Co., Ltd., a
Japan Company, have approximately 81.20% voting control of Dr. Foods, Inc. Our Chief Financial Officer, Koichi Ishizuka, owns and controls
White Knight Co., Ltd.
The Company and Dr. Foods, Inc. intend to co-develop new food products
and subsequently offer them for sale to both distributors and consumers alike.
Next Meats
Co., Ltd. is a Japanese Company that operates in the "alternative meat" industry. It currently offers, and plans to continue
to offer, amongst other things, artificial chicken and beef products made from meat substitutes. The product offerings from Next Meats
Co., Ltd. are currently sold to various food distributors, supermarkets, and restaurant groups.
We intend to utilize NextMeats France to, amongst other things,
operate as a reseller and distributor, in France and throughout Europe, for food products currently offered by Next Meats Co., Ltd.,
a Japanese Company.
Going forward, we intend to operate through and act as a holding
company for our two current subsidiaries. We also share the same business objectives as our wholly owned subsidiaries, which is the development,
sale, and distribution of alternative meat products to customers across the globe. We also intend to further our business objectives
in conjunction with our partnership with Dr. Foods, Inc.
Our business objectives are described in greater detail beginning
on page 6.
Given we are no longer a shell company
as
a result of our acquisition of Next Meats Co., Ltd., which has considerable operations, assets, and revenue, we have set forth herein
the information, including the information with respect to our new operations, that would be required if we were filing a general form
for registration of securities on Form 10 under the Exchange Act, reflecting our common stock in this Report on Form 8-K.
-3-
Table
of Contents
FORM
10 DISCLOSURE
As
disclosed elsewhere in this report, the Company has entered into and now consummated a Share Cancellation and Exchange Agreement, resulting
in the acquisition of Next Meats Co., Ltd., which caused the Company to cease being defined as a "shell company"
under
the Securities Act of 1933, as amended. Item 2.01(f) of Form 8-K requires that if a registrant was a shell company, immediately before
the transaction disclosed under Item 2.01, then the registrant must disclose the information that would be required if the registrant
were filing a general form for registration of securities on Form 10. Accordingly, we are providing below the information that would
be included in a Form 10 if we were to file a Form 10. Please note that the information provided below relates to the combined enterprises
after the closing of the Share Cancellation and Exchange Agreement, except that information relating to periods prior to the date of
the Share Cancellation and Exchange Agreement only relates to the Company, unless otherwise specifically indicated.
Business
Corporate
History
Next Meats Holdings, Inc. (we, us, our, or the "Company"),
formerly known as Turnkey Solutions, Inc., was incorporated on April 15, 2020 in the State of Nevada.
On
April 15, 2020, Paul Moody was appointed Chief Executive Officer, Chief Financial Officer, President, Secretary, Treasurer and Director
of the Company.
On
October 1, 2020, the Company, also referred to herein as the "Successor", announced on Form 8-K plans to participate in a
holding company reorganization ("the Reorganization" or "Merger") with Intermedia Marketing Solutions, Inc. ("IMMM"
or "Predecessor") and Intermedia Marketing Solutions Merger Sub, Inc. ("Merger Sub") collectively (the "Constituent
Corporations") pursuant to NRS 92A.180, NRS A.200, NRS 92A.230 and NRS 92A.250. Immediately prior to the Reorganization, the Company
was a direct and wholly owned subsidiary of Intermedia Marketing Solutions, Inc. and Intermedia Marketing Solutions Merger Sub, Inc.
was a direct and wholly owned subsidiary of the Company.
The
effective date and time of the Reorganization was October 28, 2020 at 4PM PST (the "Effective Time"). The entire plan of
Merger is on file with Nevada Secretary of State ("NSOS") and included in the Articles of Merger pursuant to NRS 92A.200
Nevada Secretary of State ("NSOS") and attached to and made a part thereof to the Articles of Merger pursuant to NRS 92A.200
filed with NSOS on October 16, 2020. At the Effective Time, Predecessor merged with and into its indirect and wholly owned subsidiary,
Merger Sub with Predecessor as the surviving corporation resulting in Predecessor as a wholly owned subsidiary of the Company.
Concurrently
and after the Effective Time, the Company cancelled all of its stock held in Predecessor resulting in the Company as a stand-alone and
separate entity with no subsidiaries, no assets and negligible liabilities. The assets and liabilities of Predecessor, if any, remained
with Predecessor. Following the reorganization, the Company abandoned the business plan of its Predecessor and resumed its former business
plan of a blank check company after completion of the Merger. It should be noted that the Company is no longer deemed to be a black check
company at this time.
Full
details pertaining to the Reorganization can be viewed in the Company's Form 8-K filed on October 29, 2020.
On
November 18, 2020 our former controlling shareholder, Flint Consulting Services, LLC sold 35,000,000 shares of common stock to Next Meats
Co., Ltd. a Japan Company. The Purchase Price was paid with personal funds of the now former majority shareholders of Next Meats Co.,
Ltd.
On
the same day, November 18, 2020, Paul Moody resigned from his positions of Chief Executive Officer, Chief Financial Officer, President,
Secretary, Treasurer and Director.
Simultaneous
to Paul Moody's resignations, Ryo Shirai was appointed as our Chief Executive Officer and Director, Hideyuki Sasaki as our Chief
Operating Officer and Director, and Koichi Ishizuka as our Chief Financial Officer and Director.
On
January 8, 2021 our majority shareholder at the time, Next Meats Co., Ltd., a Japan Company, along with our Board of Directors, comprised
of Mr. Koichi Ishizuka, Mr. Ryo Shirai, and Mr. Hideyuki Sasaki, took action to ratify, affirm, and approve a name change of the Company
from Turnkey Solutions, Inc., to Next Meats Holdings, Inc. The Company filed a Certificate of Amendment with the Nevada Secretary of
State ("NVSOS") to enact the name change with an effective date of January 19, 2021. This was previously disclosed in the
Form 8-K we filed on January 25, 2021.
Also
on January 8, 2021, our then majority shareholder Next Meats Co., Ltd., along with our Board of Directors took action to ratify, affirm,
and approve a change of the Company's ticker symbol from TKSI to NXMH.
Pursuant
to the above, the Company carried out a FINRA corporate action. As a result of the aforementioned corporate action, the Company's
CUSIP number for its common stock was changed from 90043H102 to 65345L100. The change in CUSIP, name change, and symbol change were posted
on the FINRA daily list on January 25, 2021 with a market effective date of January 26, 2021.
On
January 28, 2021, our then majority shareholder, Next Meats Co., Ltd., along with our Board of Directors took action to ratify, affirm,
and approve the issuance of 452,352,298 shares of restricted common stock to Next Meats Co., Ltd. The shares were issued for services
rendered to the Company. Following this issuance, there were 500,000,000 shares of common stock issued and outstanding.
On June 9, 2021 Next Meats Holdings,
Inc. entered into a "Share Cancellation and Exchange Agreement" (referred to herein as "the Agreement") with
Next Meats Co., Ltd. A full copy of the agreement is attached as Exhibit 10.1 to our Form 8-K filed on June 9, 2021.
Next Meats Co., Ltd. is referred
to herein as "NMCO", and Next Meats Holdings, Inc., is referred to herein as "the Company", and or "NXMH".
The shareholders of Next Meats Co., Ltd., prior to effectiveness of the aforementioned agreement, are referr
ed
to herein as "NMCO shareholders".
Pursuant
to the Agreement, and at the Effective Time of the Agreement, which is commensurate and equates to the filing of this Form 8-K, NXMH
shall acquire NMCO resulting in NMCO as a wholly owned subsidiary of NXMH.  Immediately prior to the effective time (defined below),
each NMCO shareholder shall cancel and exchange their percentile share interest in NMCO for an equivalent percentile share interest in
NXMH. The cancellation and exchange shall be conducted and equivalent pursuant to each NMCO shareholder's pro rata percentage set
forth in the table below (the "Cancellation and Exchange"). At the Effective Time, NMCO shall issue NXMH 1,000
shares of its common stock to NXMH resulting in NMCO as a wholly owned subsidiary of NXMH.
Effective Time:
The aforementioned
Agreement is to be effective commensurate with the filing of this Super 8-K, December 16, 2021. At the effective time, NMCO issued 1,000
shares of its common stock to NXMH. As a result, at the Effective Time, Next Meats Co., Ltd. became a 100% wholly owned subsidiary of
the Company (NXMH).
The aforementioned parties intend
that the reorganization contemplated by this Agreement shall constitute a tax-free organization pursuant to Section 368(a)(1) of the
Internal Revenue Code.
-4-
Table of Contents
The chart below indicates, amongst other data, the resulting issuance of shares of NXMH to each, now former, shareholder of Next Meats
Co., Ltd. following the Effective Time of the Share Cancellation and Exchange Agreement. Prior to the Effective Time, NMCO was comprised
of the following parties:
NAME
    OF SHAREHOLDER
APPROXIMATE
    PERCENTILE SHARES OWNED OF NMCO (PRIOR TO THE EFFECTIVE TIME)
SHARES
    OWNED OF NMCO (PRIOR TO EFFECTIVE TIME)
PRO
    RATA COMMON SHARES OF NXMH TO BE ISSUED TO NMCO SHAREHOLDER AT THE EFFECTIVE TIME
Ryo
    Shirai
33.4643%
37,402
163,088,842
Hideyuki
    Sasaki
33.4643%
37,402
163,088,842
White Knight
    Co., Ltd.
(owned
    and controlled by Koichi Ishizuka)
19.0575%
21,300
92,877,182
Koichi
    Ishizuka
4.2946%
4,800
20,930,069
Kiyoshi
    Noda
1.9666%
2,198
9,584,227
Rei
    Ishizuka
1.9666%
2,198
9,584,227
Michihito
    Inoue
1.4315%
1,600
6,976,690
Ryonetsu
    Kogyou co., ltd
(Represented
    by Mitsugu Kondo, CEO)
0.8947%
1,000
4,360,431
Hideya
    Marukawa
0.7158%
800
3,488,345
Keiichi
    Yogo
0.7158%
800
3,488,345
Tomonori
    Yoshinaga
0.5368%
600
2,616,259
SJ Capital
    Co., Ltd.
(Represented
    by Takeshi Sugisawa)
0.5073%
567
2,472,364
Okakichi
    Co., Ltd (Represented by Shigeru Okada, CEO)
0.3275%
366
1,595,918
CX Inc.
(Represented
    by Hiromichi Furui, CEO)
0.2988%
334
1,456,384
HEXEL Works,
    Inc.
(Represented
    by Yoichi Nagai, CEO)
0.2684%
300
1,308,129
THREWAYS,
    Inc.
(Represented
    by GENKI HIRAI, CEO)
0.0895%
100
436,044
Total
100.0000%
111,767
487,352,298
Following the Effective Time of
the Share Cancellation and Exchange Agreement, December 16, 2021, Next Meats Co., Ltd. became a 100% wholly owned subsidiary of the Company.
Next Meats Co., Ltd. is no longer our controlling shareholder and any shares previously held by Next Meats Co., Ltd. of the issuer have
subsequently been cancelled and returned to treasury, and are no longer deemed to be issued and outstanding.
The quantities of stock of NXMH,
detailed within the above table, have been issued to the respective parties pursuant to the Share Cancellation and Exchange Agreement.
Following the above, Ryo Shirai,
Hideyuki Sasaki, and Koichi Ishizuka (directly and indirectly through White Knight Co., Ltd.), collectively now own and control approximately
439,984,935 shares of our common stock.
As of the current date of this
report, and following the Share Cancellation and Exchange Agreement, we now have 500,000,000 shares of common stock issued and outstanding.
On July 20, 2021, Dr. Foods, Inc.,
formerly known as, "Catapult Solutions, Inc.", a Nevada Corporation ("DRFS"), entered into a Share Purchase Agreement
(the "Agreement") by and among CRS Consulting, LLC, a Wyoming Limited Liability Company ("CRS"), White Knight
Co., Ltd., a Japan Company ("WKC"), and Next Meats Holdings, Inc., a Nevada Company ("NXMH"), pursuant to which,
on July 23, 2021, ("Closing Date"), CRS sold 10,000 shares of DRFS Series Z Preferred Stock, representing approximately 81.20%
voting control of DRFS; 5,000 shares of Series Z Preferred Stock were transferred to WKC and 5,000 shares of Series Z Preferred Stock
were transferred to NXMH. Our Chief Financial Officer, Koichi Ishizuka, owns and controls White Knight Co., Ltd.
On
August 25, 2021, the Company changed its business plan to
exploring
and evaluating various business opportunities in, amongst other industries, the alternative meats and lab-grown food product sectors.
On
or about September 17, 2021, we incorporated NextMeats France, a French Company, that will act as a wholly owned subsidiary of the Company.
We intend to utilize Next Meats France to, amongst other things, operate as a reseller and distributor, in France and throughout Europe,
of food products currently offered by Next Meats Co., Ltd., a Japanese Company. Next Meats Co., Ltd. shares common management with NextMeats
France.
Additional
Information regarding our wholly owned subsidiaries and Dr. Foods, Inc.
The Company and Dr. Foods, Inc. intend to co-develop new
food products and subsequently offer them for sale to both distributors and consumers alike. Currently, we are mutually developing an
alternative meat product that may mimic the taste of the French delicacy known as, "Foie Gras".
Next
Meats Co., Ltd. is a Japanese Company that operates in the "alternative meat" industry. It currently offers, and plans to
continue to offer, amongst other things, artificial chicken and beef products made from meat substitutes. The product offerings from
Next Meats Co., Ltd. are currently sold to various food distributors, supermarkets, and restaurant groups. We believe Next Meats Co.,
Ltd. to be a globally recognized brand and that our global reach will continue to grow as time progresses and more individuals seek alternative
meat substitutes.
We intend to utilize NextMeats France to, amongst other
things, operate as a reseller and distributor, in France and throughout Europe, for food products currently offered by Next Meats Co.,
Ltd., a Japanese Company.
Going forward, we intend to act as a holding company and
operate through our two current subsidiaries. We also share the same business objectives as our wholly owned subsidiaries, which is the
development, sale, and distribution of alternative meat products to consumers across the globe. We also intend to further our business
objectives in conjunction with our partnership with Dr. Foods, Inc. Our current business plan is detailed below beginning on page 6.
-5-
Table
of Contents
Alternative Meat Industry
The Alternative Meat Industry refers to meat analogues or meat substitutes
which are plant-based, lab-grown, or use ingredients other than livestock, such as insects. The Yano Research Institute announced that
the global market size for meat substitutes in 2020 was 2.3 billion dollars. It is estimated that the market will grow at an average
annual rate of 22% after 2020, reaching 6.1 billion dollars in 2025 and 17 billion dollars in 2030.
Startups using technology to engineer meat in labs or manufacture
it from plant-based products are rising in popularity. In 2019, one of the world's biggest alternative protein brands, Beyond Meat,
which manufactures the plant-based Beyond Burger, went public at a valuation of almost $1.5B. The company reported net revenues of $407M
in 2020, a year-over-year increase of almost 37%, and net losses of $53M, driven largely by, what we believe to be, challenges posed
by the Covid-19 pandemic.
Alternative protein sources can potentially reduce the negative environmental
impact associated with meat production, as livestock is a major contributor to greenhouse gas emissions. Additionally, reducing livestock
could free up global cropland, decrease soil erosion, and relieve pressure on the world's water supply.
Consumers are also seeking healthier food alternatives. Rising obesity
rates across the globe, coupled with consumer interest in healthier food alternatives, are also driving demand for meatless proteins.
In 2019, the annual retail food market grew by 2.2%, but plant-based
foods swelled by 11.4% in comparison, according to the Plant Based Foods Association. The following year saw even stronger growth, with
retail sales of more than $7B in 2020 - an increase of 27% that dwarfed the 15% growth observed across US retail food sales as a whole
that year.
At present, our operations are primarily conducted in Japan, and
as such we have narrowed the focus of the following information to the alternative meat industry in Japan.
In 2019, the Japan Meat Information Service Center conducted a survey
that revealed that at least 50% of the population was aware of products alternative to meat. The overall image of plant-based meat substitutes
was also rather positive. Nearly 60% of the respondents were ready to consume greener for their health and the planet.
A year later, another study specifically conducted on soy-based meat
showed that consumer awareness jumped to over 70%. By August 2020, at least 1 out of 4 consumers had tasted a vegetable alternative to
meat at least once. The figures further revealed that consumers cook plant-based meat at home (68%) but also eat meat substitutes at
restaurants (30%) and cafes (18.2%).
The rising awareness of meat alternatives isn't unique to Japan
but is part of a global movement, with the Asia-Pacific region as the fastest-growing market. Experts forecast a growth rate of at least
9.4% a year until 2025 in that region only.
By 2019, Japan's Ministry of Agriculture, Forestry, and Fisheries
already listed up to 12 domestic plant-based meat manufacturers. The Ministry noted the consumption increase seemed to be explosive.
Retailers also appeared largely in favor of the development of new alliterative meat products to stock their shelves. When the pandemic
hit worldwide, we believe Japan was already on the path for sustainable protein food sources. We believe this is greatly attributed to
a pre-existing shift to meat alternatives for reasons already stated above.
Sources
https://www.cbinsights.com/research/future-of-meat-industrial-farming/
https://www.gourmetpro.co/blog/plant-based-meat-gaining-steam-as-sustainable-food-source-japan
Business Information
Prior to the Effective Time of the Agreement between Next Meats Holdings,
Inc. and Next Meats Co., Ltd. we were deemed to be a shell company. Subsequent to the Effective Time of the "Share Cancellation
and Exchange Agreement", detailed above, which occurred commensurate with the filing of this Form 8-K, our business plan has changed
to share that of our wholly owned subsidiaries, Next Meats Holdings, Inc., and NextMeats France which is to develop and sell alternative
meat products. For the purposes of the foregoing business plan, all references to "Next Meats", "NextMeats France",
or "the Company", refer to Next Meats Holdings, Inc., Next Meats Co., Ltd., and Next Meats France as we share the same business
plan.
Our mission, or philosophy, is that "We Won't Let Earth
End". Next Meats works to provide a solution to the climate crisis and food insecurity problems by distributing, what we believe
to be, delicious alternative-meat products rooted in Japanese cuisine, worldwide. Next Meats is a food-tech venture founded in Tokyo,
by people passionate about delivering a better future for our children. We strive to create tasty alternatives to your favorite dishes,
without the same environmental impact of using meat. We believe in a more ecologically sustainable future for every person.
At present, our principal focus is on the creation of plant-based
food products to replace traditional animal products, while retaining the taste and texture of the original.
At Next Meats, safety and quality are our top priorities. Many people
imagine chemical additives when they hear the word "alternative meat", but it is our intent to only use the minimum, necessary
ingredients, and keep additives at a minimum or as a last option. We combine vegetable proteins such as soybeans and peas and mold them
with heat and pressure to create a unique texture and flavor. We produce our products only in certified food factories. To ensure that
our products are safe, we produce them in clean food factories certified by the Japan Food Safety Management Association (JFS), HALAL,
etc., for thorough quality control. We are also exporting more and more of our products overseas as time progresses, and we believe part
of the reason is that our products are highly valued for their quality and "Made in Japan" taste.
Below, pictured on the right, is the active production of one of
several of our product offerings, NEXT Yakiniku, a meat alternative to skirt steak. Pictured on the left is our NEXT Yakiniku once cooked
and prepared for consumption.
While we maintain rigorous safety and cleanliness standards for the
factories that produce Next Meats products, it should be noted that we do not, at this time, directly manufacture any of our products.
We have entered into agreements with local manufacturers to produce any and all Next Meats products. In the future, we may begin to manufacture
our products directly through the "NEXT Factory" (described in greater detail in the Facilities section below). We intend
to maintain ongoing relationships and agreements with local manufacturers for as long as they remain certified by JFS, HALAL, etc. and
meet our rigorous safety and cleanliness standards. From time to time we send out staff members into the facilities that manufacturer
our products for ongoing inspections and observation.
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Table of Contents
Currently
Available Products
The
following list of
products is not comprehensive, but it is a showcase of some of our most popular items:
1.
NEXT
                                            Burger 2.1- The NEXT Burger is a meat (plant-based) patty made by combining the proteins
                                            of peas and soybeans. In comparison to regular burgers, we believe the NEXT Burger to be
                                            very gentle on the body while retaining the taste of a traditional burger patty.
2.
NEXT
                                            Gyudon- Gyudon, also known as a beef bowl, is a Japanese dish traditionally consisting of
                                            a bowl of rice topped with beef and onion simmered in a mildly sweet sauce flavored with
                                            dashi, soy sauce and mirin. The NEXT Gyudon is made from processed soybeans and natural seasonings,
                                            without using any animal ingredients and without adding chemical seasonings. The cholesterol
                                            in this product is almost zero and we believe it to be a far healthier option than a typical
                                            gyudon, while retaining all the flavor.
3.
NEXT
                                            Yakiniku- The world's first plant-based Yakiniku barbecue meats have two types, the Short-rib,
                                            and the Skirt-steak. Both are:
- Free of artificial additives
- High in protein
- No Cholesterol
- Uses Non-GMO soy
- Low in saturated fat
The textures slightly vary but they both have a non-intrusive,
lightly sweet and savory flavor which makes it extremely versatile. The NEXT Yakinikus are excellent grilled and "topped on rice"
or in a stir fry, or in tacos, and in an endless possibility of dishes.
4.
NEXT
                                            Chicken- The NEXT Chicken replicates the texture of chicken and is available in both original
                                            garlic herb roast as well as chicken tandoori flavors. Compared to chicken thighs, NEXT chicken
                                            has 1.1 times more protein (33.12g per pack), about 1/5 of fat (5.4g per pack), and does
                                            not contain cholesterol. It is made of 100% vegetable content, and is an ideal vegan alternative
                                            to chicken.
5.
NEXT
                                            Egg- The NEXT EGG is 100% plant based and is expected to procure the needs of the vegan population
                                            and people with egg allergies, who have, until now, had almost no commercial vegan egg options
                                            to choose from.
6.
NEXT
                                            Tuna- The NEXT Tuna is 100% botanical and low in fat cholesterol. It is available in a can
                                            and there is no need to drain oil or water. We believe it is ideal for hand-rolled sushi
                                            and pasta, as well as being placed on a salad or sandwiched with mayonnaise. In addition,
                                            since it can be stored at room temperature for a long period of time (2 years after manufacture
                                            date), it can be used as an emergency food or for camping. The NEXT Tuna is, at this time,
                                            exclusively available online. At launch it sold out within 6 hours, but we anticipate further
                                            inventory to be available in December of 2021.
The vegetable protein for the Next Yakiniku is formed in a twin-screw
extruder, then dried, boiled, fried, and seasoned. Finally, it is heat sterilized and frozen. The Next Burger and Next Gyudon and Next
Chicken also use processed soy that comes out the extruder but they are cooked differently afterwards.
The main ingredient for all products is soybeans, and different varieties
of soybeans and production areas are used for different products to give them varying textures and colors. The products are all sold
frozen with the exception of the canned Next Gyudon, and they are all classified as "processed soy products". In some stores,
depending on the results of the bacteria count test, the product can be sold in the chilled zone in the fridge (5℃).
Other than the main ingredient, soybeans, the other part of the product
is the seasoning, such as yakiniku sauce, beef bowl sauce, and herb seasoning for chicken.
The below is included to provide a visual of some our current product
offerings detailed above.
Trademarks
We have obtained trademarks within Japan for the names of our existing
products. Any proposed or future products are also trademarked, or will likely be trademarked, within Japan or are pending receipt of
such trademark rights within Japan. Our name, 'Next Meats' is also trademarked in the United States, Japan, and China.
Future Products
Development of new products is ongoing, and in some instances may
not be to the point where we can publicly announce our plans. However, we can disclose that Next Pork is scheduled for release at some
point in January of 2022, and Next Milk is scheduled for release in December of 2021. Both of the products above are, like our other
products, plant based. Further details of each will be disclosed when the products have been released. We continually strive to create
and sell new products, and we anticipate our product line will continue to expand and diversify in 2022 and the years to follow as our
business expands and grows.
Pictured below are our NEXT Tuna, NEXT Pork, and NEXT Milk products.
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Distribution
At present, we distribute our products through several wholesale
companies, while also selling directly through our website. The English version of our website can be viewed at the following link: https://nextmeats.co.jp/en.
We have accounts with Kokubu and NIPPON ACCESS, two of the largest food wholesalers in Japan, and they distribute our products to restaurants
and supermarkets throughout the country.
As a result of our wholesale and distribution channels mentioned
above, Next Meats products are widely distributed in supermarkets and restaurant chains as an alternative meat brand.
Below are some of the various supermarkets and restaurants (this
is not a full list) that our products can be found in.
Additionally, we have branch locations in Taiwan, Singapore, Vietnam,
Hong Kong and the United States. At each of these locations, there are individuals (they are not employees, but they are business associates
of our officers and directors) who act as local distributors and sell our products to distributors/retailers in each country, respectively.
In Vietnam and Taiwan, we sell the TVP (Textured Vegetable Protein) from Japan and conduct the final processing of our products locally.
In both Vietnam and Taiwan, the final processing is done at partner factories. In the future, we plan to establish official subsidiaries
for each of these countries and transfer business operations directly to them.
Pictured below is one of our scientists on staff developing and producing
one of our various alternative meats products using the TVP method described above.
As part of our forward-looking plans, we are in the process of establishing
additional global branches in China, India, France, Italy, Spain, and Russia. Our French subsidiary was established in October and communications
are ongoing with French factories for local production. However, for all of the other countries listed above, we remain in the stage
of conducting market research.
Marketing Strategy
At present, our marketing plan is comprised of daily
posts and releases through various social networking platforms, and we have also appeared at events throughout Japan, distributed press
releases, and attempted to have our company featured on various news media. We have also created a television commercial, which can be
viewed on our website. The commercial was originally created in Japanese, and has only aired on television in Japan thus far, but has
also been translated into English and Chinese. It was, and is, our belief that creating and running a television commercial would help
to differentiate us from many other startups who do not reach out to the general public through this medium. As our operations progress,
our marketing initiatives will remain ongoing and we will continually seek to identify and explore new methods of increasing consumers'
awareness of our products.
Collaborative Efforts
On December 11, 2020, Next Meats Co., Ltd. entered into a Joint Development
Agreement with Euglena Co., Ltd. with the intent to jointly develop artificial meat products containing Euglena. To date, this has resulted
in the creation of "Next Yakiniku Euglena EX" which integrates the microalgae euglena into our Next Yakiniku product. We
are currently working on developing a burger patty alongside Euglena Co., Ltd.
On December 28, 2020, Next Meats Co., Ltd. entered into a Memorandum of
Understanding with Toyota Tsusho Corporation to agree to consider this partnership with the aim of taking measures to make a new food
culture permeate society and contribute to the achievement of SDGs (Sustainable Development Goals), by making use of each companies'
strengths in forming an ecosystem that expands the Japanese and overseas plant meat market and reinforces its value chain. Thus far,
this has resulted in introductions to new retailers, assistance with our exporting plans to China (including introductions to factories
in China), as well as the development of the "Menchikatsu" cutlet product which was released recently.
On May 5, 2021, Next Meats Co., Ltd. entered into a Joint Research Agreement
with Nagaoka University of Technology. The research pertains to regulatory mechanisms of iron-binding protein gene expression in leguminosae
plants. Leguminosae plants possess a gene that encodes iron-binding protein, but this gene is not expressed in the seeds, so plant-based
meat made using seeds from leguminosae plants, like soybean, lack iron-binding proteins when compared to animal meats. One solution to
this problem is the production of cultivars wherein iron-binding protein genes are expressed within the seeds; the elucidation and usage
of epigenetic control mechanisms will be effective in modifying gene expression. Therefore, we will conduct fundamental research on the
development of plant variant that can produce seeds that contain high levels of iron-binding protein through the usage of the plant epigenetics
technology at the Nagaoka University of Technology.
On October 11, 2021, we, through our now wholly owned subsidiary Next
Meats Co., Ltd., entered into and consummated a "Collaboration Agreement" with Dr. Foods Co., Ltd., a Japan company and wholly
owned subsidiary of Dr. Foods, Inc., a Nevada Company, that shares common management with the Company, to co-develop new food products
and subsequently offer them for sale. Dr. Foods Co., Ltd. operates in the "plant-based food" industry. It currently offers,
and plans to continue to offer, amongst other things, artificial foie gras made from meat substitutes, and intends to offer, in the future,
a diverse range of microalgae-based foods.
The Collaboration Agreement with Dr. Foods, Inc. is
for a period of two years, and may be renewed thereafter under the same terms for additional one-year terms unless terminated in writing,
with three months' notice, by either party. The Collaboration Agreement, amongst other things, details the terms and conditions
by which Next Meats Co., Ltd. and Dr. Foods Co., Ltd. may co-develop, cooperate and contribute towards the development of new products
and technologies. The specific allotment of tasks per project will be determined in writing by each party at the outset of collaborative
efforts. Dr. Foods Co., Ltd. will primarily, although not exclusively, contribute to research and development, and Next Meats Co., Ltd.
will primarily, although not exclusively, contribute to distribution of new products/technologies. Costs pursuant to the collaborative
efforts of the partners, will be the respective responsibility of the party responsible for fulfilling such tasks.
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Future Plans
We anticipate that over the course of the next few months, stretching
into early 2022, we will continue development of new products, expand on sales distribution channels, and issue pertinent press releases
while conducting media interviews. In January of 2022, we anticipate the release of NEXT Pork and in December of 2021, we plan to release
NEXT Milk. Development of the NEXT Factory will continue, with an estimated completion date of early 2022.
During 2022, we intend to begin the process of listing on the NASDAQ if
our financial situation is conducive to such an effort. At around the same time, we hope to expand upon the NEXT Factory as needed and
we intend to begin to research cultured meats, which will hopefully lead to additional new product offerings. Further, we intend to increase
our mass media exposure and have tentative plans to begin placing OOH (Out of Home) advertisements in strategic locations throughout
Japan. In 2023 and beyond we tentatively intend to increase our overseas media and event exposure, but such efforts are speculative at
present.
Government Regulations
The below does not extensively detail every law and
regulation to which the Company may be subject to, but rather provides an overview of the kind of food safety standards to which our
product(s) will be held.
The main law that governs food quality and integrity
in Japan is the Food Sanitation Act ("FSA") and the law that comprehensively governs food labeling regulation is the Food Labeling
Act.
The FSA regulates food quality and integrity by:
- Establishing standards and specifications for food,
additives, apparatus, and food containers and packaging;
- Providing for inspection to see whether the established
standards are met;
- Providing for hygiene management in the manufacture
and sale of food; and
- Requiring food businesses to be licensed.
Under the FSA, additives and foods containing additives
must not be sold, or be produced, imported, processed, used, stored, or displayed for marketing purposes unless the Minister of Health,
Labour and Welfare ("MHLW") has declared them as having no risk to human health after seeking the views of the Pharmaceutical
Affairs and Food Sanitation Council ("PAFSC"). In addition, it is not permissible to add any processing aids, vitamins, minerals,
novel foods or nutritive substances to food unless they have been expressly declared by the MHLW as having no risk to human health.
The MHLW may establish specifications for methods
of producing, processing, using, cooking, or preserving food or additives to be served to the public for marketing purposes ("Specifications"),
or may establish standards for food ingredients or additives to be served to the public for marketing purposes ("Standards")
pursuant to the FSA. Accordingly, where substances are allowed to be added to food, they may only be used within the limits expressly
set by the Specifications and Standards.
Our Facilities
At present, our sole facilities are our research lab in Nagaoka,
Niigata, which opened in February of 2021 and our Tokyo offices. Our Nagaoka Research Lab is solely used for research activities and
does not include a "production line". The lab is 75 square meters in size and has seven employees. The research conducted
here is led by Doctors of microbiology, life sciences, and engineering. Our recent research topics include: the incorporation of microorganisms
in raw materials and/or end products, fermentation technology, the use of epigenetics on raw materials, research on new varieties of
plants, and research on machinery used in the manufacturing process.
We are currently constructing our own NEXT factory dedicated to alternative
protein/product development. It will include sustainable technologies and DX Systems (HVAC air conditioning unit), and is set for completion
in Summer 2022. While we intend to retain our relationships and agreements with existing manufacturers of Next Meats products, it is
our intention that in the future we will handle production of future products directly at the NEXT Factory.
Employees
At present, Next Meats Holdings, Inc. has three employees, solely
comprised of our officers and Directors. Next Meats Co., Ltd. has nineteen employees, including its three officers. Non executive employees
of Next Meats Co., Ltd. are full time employees and receive, in addition to their salaries, social insurance in Japan. Social insurance
is comprised of Pension, Health, Unemployment and Worker's Accident Compensation.
Competition
The alternative meat industry is highly competitive, with a major
market share held by prominent companies, such as Beyond Meat, a Los Angeles-based producer of plant-based meat substitutes. In 2019,
Beyond Meat, which manufactures the plant-based Beyond Burger, went public at a valuation of almost $1.5B. Beyond Meat began offering
direct-to-consumer (D2C) sales in August 2020 and announced partnerships with Yum! Brands and McDonald's in 2021.
In Japan, there are also several prominent alternative-meat companies
which we consider to be our direct competitors including, but not necessarily limited to, Marukome Co., Ltd., Maisen Fine Foods Co.,
and Kabaya Foods Corporation. Marukome Co., Ltd, one of Japan's oldest and top miso paste producers, launched their Daizu Labo
(Soybean Laboratories) brand, which features over 30 soy-based substitutes for animal products, eight advertised as 'meat'
(ready to eat, dried, and frozen). Maisen Fine Foods Co., gradually expanded its business from organic brown rice to rice-based and allergy-friendly
food products. In 2016, they launched a series of gluten-free soybean and rice-based meat products. Kabaya Foods Corporation, a confectionery
company founded in 1946, launched a soy-based jerky in 2018 with the slogan "a new era of snack is coming."
Despite these, and other, competitors, we believe that we have significant
competitive strengths which poise Next Meats to become a prominent market participant in the alternative food industry going forward.
RISK
FACTORS
An investment in our common stock is highly speculative, and should only
be made by persons who can afford to lose their entire investment in us.
We qualify as a smaller reporting company, as defined by Item 10 of Regulation
S-K and, thus, are not required to provide the information required by this Item.
MANAGEMENT'S
DISCUSSION AND ANALYSIS
Summary
                                            of Current Operations
On December 16, 2021, we acquired 100% of the equity interest of Next
Meats Co., Ltd., a Japan Company. Following the acquisition, we ceased to be a shell company. Currently, and going forward, we intend
to act as a holding company and operate through our two current subsidiaries Next Meats Co., Ltd., and NextMeats France.
We share the same business objectives as our wholly owned subsidiaries,
which is the development, sale, and distribution of alternative meat products to consumers across the globe.
Fiscal Year End
Our fiscal year end is April 30
th
.
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Results of Operations - Next Meats Holdings, Inc., a Nevada
Company
The
                                            consolidated financial statements, and related disclosures, of Next Meats Holdings, Inc.,
                                            through October 31, 2021 are included herein by reference to our Form 10-Q, filed with the
                                            Securities and Exchange Commission on December 15, 2021.
The quarter ending January 31,
2021, and thereafter, will include consolidated financial statements of NextMeats France and also Next Meats Co., Ltd. given the acquisition
of Next Meats Co., Ltd. occurred on December 16, 2021. The consolidated financial statements of Next Meats Holdings, Inc. as of October
31, 2021 do not include those of Next Meats Co., Ltd. given the acquisition of Next Meats Co., Ltd. has occurred on December 16, 2021.
As of October 31, 2021, the Company
has been exploring various opportunities in the alternative meat industry.
Results of Operations - Next Meats Co., Ltd., a Japan Company
References to "we", "our", and or "the Company",
within the below paragraph are in reference to Next Meats Co., Ltd.
As of April 30, 2021, we, Next Meats Co., Ltd., had total current
assets of $7,762,059. As of October 31, 2021, our total current assets amounted to $6,173,917. As of April 30, 2021, we had cash and
cash equivalents of $7,210,200, whereas as of October 31, 2021, we had cash and cash equivalents of $2,608,004. The decrease in our available
cash balance is primarily attributable to the fact that we remain an early-stage growth company, only having been incorporated on June
1, 2020, and we have spent the majority of our funds on furthering our business operations, expanding our product lines, and extending
our product visibility.
While the majority of our current assets, as of April 30, 2021,
were in the form of cash and cash equivalents, as of October 31, 2021, our current assets were divided, for the most part, amongst cash
and cash equivalents, advance payments, and available inventory. Our inventory has increased from $249,434 as of April 30, 2021 to $980,605
as of October 31, 2021. We believed that we had, and still have, a continually increasing customer base and therefore it is the company's
belief that there is a need to hold increasing quantities of inventory as time progresses.
Our total assets, as of October 31, 2021, were $8,453,817, whereas
as of April 30, 2021 our total assets were $8,485,731. As of October 31, 2021, we had total liabilities of $3,021,904, whereas our total
liabilities as of April 30, 2021, amounted to $489,165. As mentioned previously, we believe that the variance can be attributed to an
increase in operations, and, more specifically, due in large part to a significant increase in accrued expenses and other payables.
As of October 31, 2021,
we, Next Meats Co., Ltd., had total liabilities and shareholders' equity in the amount of $
8,453,817,
whereas as of April 30, 2021, we had total liabilities and shareholders' equity in the amount of $8,485,731.
For
the three months ended October 31, 2021, we had realized revenues of $3,815,510, whereas for the three months ended October 31, 2020,
we had realized revenues in the amount of $72,348.
For
the six months ended October 31, 2020, we realized revenues of $5,184,080, whereas for the period from June 1, 2020 (Inception) to October
31, 2020 we realized revenues of $72,348. The increase in revenues is attributable to the fact that we were only incorporated on June
1, 2020 and we believe that our operations have increased significantly in recent months as a result of our increased recognition and
growing customer base. Our gross profit for the three months ended October 31, 2021 was $10,262, whereas for the three months ended October
31, 2020 it was $20,267. Our gross profit for the six months ended October 31, 2021 was $108,938 and for the period from June 1, 2020
to October 31, 2020 was $20,267.
Our
gross profit and margins are relatively thin, and we attribute this to the high costs of producing our products via third party manufacturers.
We currently intend to minimize this concern with the completion of our factory, which we have termed the "NEXT Factory".
We
                                            are currently constructing our NEXT Factory, which will be dedicated to alternative protein/product
                                            development. We anticipate it will include sustainable technologies and DX Systems (HVAC
                                            air conditioning unit), and is set for completion in Summer 2022. While we intend to retain
                                            our relationships and agreements with existing manufacturers of Next Meats products, it is
                                            our intention that in the future we will handle production of many future products directly
                                            at the NEXT Factory.
Our
Net Loss for the three months ended October 31, 2021 was $1,150,434, for the three months ended October 31, 2020 it was $55,668, for
the six months ended October 31, 2021 it was $2,302,472 , and for the period from June 1, 2020 (Inception) to October 31, 2020 it was
$75,060. We attribute the greater net loss to the dramatic increase in our levels of operations since inception, and due to the fact
that we have realized significant general and administrative expenses resulting from employees, research and development, marketing,
etc. We believe that our operating costs, and general and administrative costs will decrease going forward, as we have already paid fees
associated with commencing our operations. Furthermore, we believe that directly producing future products via the NEXT Factory will
increase product margins and may potentially shift our net loss into net income.
Results
                                            of Operations - NextMeats France, a French Company
We incorporated NextMeats France on September 17, 2021.
Any and all financial transactions and related disclosures of NextMeats
France through October 31, 2021 are included by reference to our consolidated financials statements on Form 10-Q, filed with the Securities
and Exchange Commission on December 15, 2021.
For Next Meats Holdings, Inc.,
the quarter ending January 31, 2021, and thereafter, will include consolidated financial statements of NextMeats France and also Next
Meats Co., Ltd. given the acquisition of Next Meats Co., Ltd. occurred on December 16, 2021.
We intend to utilize NextMeats France to, amongst other things, operate
as a reseller and distributor, in France and throughout Europe, for food products currently offered by Next Meats Co., Ltd., a Japanese
Company. On December 16, 2021, Next Meats Holdings, Inc., a Nevada Company, acquired 100% of Next Meats Co., Ltd.
Information
Regarding our Share Structure:
We have 500,000,000 shares of common stock issued and outstanding
as of the date of this report.
Ryo Shirai, Hideyuki Sasaki, and
Koichi Ishizuka (directly and indirectly through White Knight Co., Ltd.), collectively own and control approximately 439,984,935 shares
of our common stock as of the date of this Form 8-K.
Future Plans
We
                                            anticipate that over the course of the next few months, stretching into early 2022, we will
                                            continue development of new products, expand on sales distribution channels, and issue pertinent
                                            press releases while conducting media interviews. In January of 2022, we anticipate the release
                                            of NEXT Pork and in December of 2021, we plan to release NEXT Milk. Development of the NEXT
                                            Factory will continue, with an estimated completion date of early 2022.
During 2022, we intend to begin the process of listing on the NASDAQ if
our financial situation is conducive to such an effort. At around the same time, we hope to expand upon the NEXT Factory as needed and
we intend to begin to research cultured meats, which will hopefully lead to additional new product offerings. Further, we intend to increase
our mass media exposure and have tentative plans to begin placing OOH (Out of Home) advertisements in strategic locations throughout
Japan. In 2023 and beyond we tentatively intend to increase our overseas media and event exposure, but such efforts are speculative at
present.
We intend to continue to fund the Company with loans, or advances from
related parties, in combination with cash and generated from the sale of our alternative meat products. If we need additional cash, and
our officers and or directors are unwilling to provide us funding, and our cash reserves are insufficient, we may seek out alternative
forms of funding. Such alternative means of funding have not yet been identified at this time.
SECURITY
OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
As
of the date of this report, the Company has 500,000,000 shares of common stock issued and outstanding. which number of issued and outstanding
shares of common stock and preferred stock have been used throughout this report.
The
Company's mailing address is: 3F 1-16-13 Ebisu Minami Shibuya-ku,Tokyo Japan.
Note:
If no address is present in the below table it should be assumed that the address is the same as that for the Company.
Name
                                            and Address of Beneficial Owner
Shares
                                            of Common Stock Beneficially Owned
Common
                                            Stock Voting Percentage Beneficially Owned
Executive Officers and
    Directors
Koichi Ishizuka
1
113,807,251
22.76%
Ryo Shirai
2
163,088,842
32.62%
Hideyuki Sasaki
3
163,088,842
32.62%
5% or greater shareholders
None
n/a
n/a
Total:
439,984,935
88.00
%
1
Mr. Koichi Ishizuka serves as our Chief Financial Officer. The row denoting ownership for Koichi Ishizuka is inclusive of his ownership
in the Company via his personal holdings and that of White
Knight Co., Ltd. Koichi Ishizuka owns and controls White Knight Co.,
Ltd.
2
Mr. Ryo Shirai serves as our Chief Executive
Officer and Director.
3
Mr. Hideyuki Sasaki serves as our Chief
Operating Officer and Director.
Beneficial ownership
has been determined in accordance with Rule 13d-3 under the Exchange Act. Under this rule, certain shares may be deemed to be beneficially
owned by more than one person (if, for example, persons share the power to vote or the power to dispose of the shares). In addition,
shares are deemed to be beneficially owned by a person if the person has the right to acquire shares (for example, upon exercise of an
option or warrant) within 60 days of the date as of which the information is provided. In computing the percentage ownership of
any person, the amount of shares is deemed to include the amount of shares beneficially owned by such person by r
eason of such
acquisition rights. As a result, the percentage of outstanding shares of any person as shown in the following table does not necessarily
reflect the person's actual voting power at any particular date.
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DIRECTORS
AND EXECUTIVE OFFICERS
Biographical
information regarding the officers and Directors of the Company, who will continue to serve as officers and Directors of Next Meats Holdings,
Inc. following the acquisition of Next Meats Co., Ltd., are provided below:
Next
Meats Holdings, Inc.
NAME
AGE
POSITION
Ryo
    Shirai
40
Chief
    Executive Officer and Director
Hideyuki
    Sasaki
40
Chief
    Operating Officer and Director
Koichi
    Ishizuka
50
Chief
    Financial Officer and Director
Background
of Mr. Ryo Shirai
Mr.
Ryo Shirai, age 40, graduated from Keio University (Japan) in 2003, and from Beijing Language and Culture University in 2004. From 2004
to 200
6 he was employed as a Financial Advisor at Daiwa Securities Group, Inc. From 2006 to 2019, Mr. Shirai served as the Chief
Executive Officer and Founder of Whitehole Limited. Subsequently, he became the Founder of Next Meats Co., Ltd in 2020, and continues
to hold this position to this date.
Background of Mr. Hideyuki Sasaki
Mr. Hideyuki Sasaki, age 40, was employed as an Executive
Vice President at Whitehole Limited from 2008 to 2019. From 2020, to the present date, he has served as the Chief Executive Officer of
Next Meats Co., Ltd.
Background
of Mr. Koichi Ishizuka
Mr.
Koichi Ishizuka, age 50, attended the University of Aoyama Gakuin where he received his MBA in 2004. Several years later in 2011 he graduated
from the Advanced Management Program at Harvard School of Business. Following Mr. Ishizuka's formal education, he took a position
as the head of marketing with Thomson Reuters, a mass media and information firm. Thereafter, he served as the CEO of Xinhua Finance
Japan in 2006, Fate Corporation in 2008, and LCA Holdings., Ltd in 2009. Currently, Mr. Ishizuka serves as the Chief Executive Officer
of OFF Line Co., Ltd., Photozou Co., Ltd., Photozou Holdings, Inc., Photozou Koukoku Co., Ltd., Off Line International, Inc. and OFF
Line Japan Co., Ltd. He has held the position of CEO with OFF Line Co., Ltd. since 2013, Photozou Co., Ltd since 2016, Photozou Holdings,
Inc since 2017, Photozou Koukoku Co., Ltd. since 2017, Off Line International, Inc. since 2019 and OFF Line Japan Co., Ltd. since 2018.
On November 18, 2020, he was appointed as Chief Financial Officer of Next Meats Holdings, Inc., a position he still holds today. Koichi
Ishizuka also has an equity interest in Next Meats Holdings, Inc. Koichi Ishizuka is also Chief Financial officer of Next Meats Co.,
Ltd., a Japanese alternative meat company. It should be noted Koich Ishizuka is currently also a minority shareholder of Next Meats Co.,
Ltd. Since its inception on April 14, 2021, Koichi Ishizuka has served as CEO of WB Burgers Japan Co., Ltd., a Japanese Company.  On
July 23, 2021, Mr. Koichi Ishizuka was appointed as the Chief Executive Officer, Chief Financial Officer, President, Secretary, Treasurer,
and Director of Catapult Solutions, Inc., which is now known as Dr. Foods, Inc.
Corporate
governance
The Company
promotes accountability for adherence to honest and ethical conduct; endeavors to provide full, fair, accurate, timely and understandable
disclosure in reports and documents that the Company files with the Securities and Exchange Commission (the "SEC") and in
other public communications made by the Company; and strives to be compliant with applicable governmental laws, rules and regulations.
The Company has not formally adopted a written code of business conduct and ethics that governs the Company's employees, officers
and Directors as the Company is not required to do so.
In lieu
of an Audit Committee, the Company's Board of Directors, is responsible for reviewing and making recommendations concerning the
selection of outside auditors, reviewing the scope, results and effectiveness of the annual audit of the Company's financial statements
and other services provided by the Company's independent public accountants. The Board of Directors reviews the Company's internal
accounting controls, practices and policies.
Committees
of the Board
Our Company
currently does not have nominating, compensation, or audit committees or committees performing similar functions nor does our Company
have a written nominating, compensation or audit committee charter. Our Directors believe that it is not necessary to have such committees,
at this time, because the Directors can adequately perform the functions of such committees.
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Table
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Audit
Committee Financial Expert
Our Board
of Directors has determined that we do not have a board member that qualifies as an "
audit committee financial expert
"
as defined in Item 407(D)(5) of Regulation S-K, nor do we have a Board member that qualifies as "
independent
" as the
term is used in Item 7(d)(3)(iv)(B) of Schedule 14A under the Securities Exchange Act of 1934, as amended, and as defined by Rule 4200(a)(14)
of the FINRA Rules.
We believe
that our Directors are capable of analyzing and evaluating our financial statements and understanding internal controls and procedures
for financial reporting. The Directors of our Company do not believe that it is necessary to have an audit committee because management
believes that the Board of Directors can adequately perform the functions of an audit committee. In addition, we believe that retaining
an independent Director who would qualify as an "
audit committee financial expert
" would be overly costly and burdensome
and is not warranted in our circumstances given the stage of our development.
Involvement
in Certain Legal Proceedings
Our officers and directors have not been involved in any of the
following events during the past ten years.
1.
bankruptcy petition
    filed by or against any business of which such person was a general partner or executive officer either at the time of the bankruptcy
    or within two years prior to that time;
2.
any conviction in a criminal
    proceeding or being subject to a pending criminal proceeding (excluding traffic violations and other minor offenses);
3.
being subject to any order,
    judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily
    enjoining, barring, suspending or otherwise limiting his involvement in any type of business, securities or banking activities; or
4.
being found by a court of
    competent jurisdiction (in a civil action), the Commission or the Commodity Futures Trading Commission to have violated a federal
    or state securities or commodities law, and the judgment has not been reversed, suspended, or vacated.
5.
Such person was found by
    a court of competent jurisdiction in a civil action or by the Commission to have violated any Federal or State securities law, and
    the judgment in such civil action or finding by the Commission has not been subsequently reversed, suspended, or vacated;
6.
Such person was found by
    a court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated any Federal commodities
    law, and the judgment in such civil action or finding by the Commodity Futures Trading Commission has not been subsequently reversed,
    suspended or vacated;
7.
Such person was the subject
    of, or a party to, any Federal or State judicial or administrative order, judgment, decree, or finding, not subsequently reversed,
    suspended or vacated, relating to an alleged violation of:(i) Any Federal or State securities or commodities law or regulation; or(ii)
    Any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent
    injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal
    or prohibition order; or(iii) Any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity;
    or
8.
Such person was the subject
    of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as
    defined in Section 3(a)(26) of the Exchange Act (15 U.S.C. 78c(a)(26))), any registered entity (as defined in Section 1(a)(29) of
    the Commodity Exchange Act (7 U.S.C. 1(a)(29))), or any equivalent exchange, association, entity or organization that has disciplinary
    authority over its members or persons associated with a member.
Independence
of Directors
We are
not required to have independent members of our Board of Directors, and do not anticipate having independent Directors until such time
as we are required to do so.
Code
of Ethics
We have
not adopted a formal Code of Ethics. The Board of Directors evaluated the business of the Company and the number of employees and determined
that since the business is operated by a small number of persons, general rules of fiduciary duty and federal and state criminal, business
conduct and securities laws are adequate ethical guidelines. In the event our operations, employees and/or Directors expand in the future,
we may take actions to adopt a formal Code of Ethics.
Shareholder
Proposals
Our Company
does not have any defined policy or procedural requirements for shareholders to submit recommendations or nominations for Directors.
The Board of Directors believes that, given the stage of our development, a specific nominating policy would be premature and of little
assistance until our business operations develop to a more advanced level. Our Company does not currently have any specific or minimum
criteria for the election of nominees to the Board of Directors and we do not have any specific process or procedure for evaluating such
nominees. The Board of Directors will assess all candidates, whether submitted by management or shareholders, and make recommendations
for election or appointment.
A shareholder
who wishes to communicate with our Board of Directors may do so by directing a written request addressed to our Chief Executive Officer,
at the address appearing on the first page of this Form 8-K.
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Table
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EXECUTIVE
COMPENSATION
Note:
The below table is in relation to Next Meats Holdings, Inc. for the two most recent fiscal years ended April 30
th
.
Summary
Compensation Table:
Name and principal position (a)
As of April 30, (b)
Salary ($) (c)
Bonus ($) (d)
Stock Awards ($) (e)
Option Awards ($) (f)
Non-equity incentive plan compensation ($) (g)
Non-qualified deferred compensation earnings ($) (h)
All other compensation ($) (i)
Total ($) (j)
Paul Moody, Former Officer and Director
1
2020
-
-
-
-
-
-
-
-
2021
-
-
-
-
-
-
-
-
Ryo Shirai, Chief Executive Officer and Director
2020
-
-
-
-
-
-
-
-
2021
-
-
-
-
-
-
-
-
Hideyuki Sasaki, Chief Operating Officer and Director
2020
-
-
-
-
-
-
-
-
2021
-
-
-
-
-
-
-
-
Koichi Ishizuka, Chief Financial Officer and Director
2020
-
-
-
-
-
-
-
-
2021
-
-
-
-
-
-
-
-
1
Paul Moody resigned from his position
of Chief Executive Officer, Chief Financial Officer, President, Secretary, Treasurer and Director on November 18, 2020.
Compensation of Directors
The table above summarizes all compensation of our Directors through our
most recent fiscal year end April 30, 2021.
We do not have any employment agreements in place with any of our officers
or Directors.
Our
                                            wholly owned subsidiaries also do not retain any employment agreements with any of its officers
                                            or Directors. However, it should be noted that Next Meats Co., Ltd. has paid total compensation
                                            of approximately $188,926 to Hideyuki Sasaki, Ryo Shirai, and Koichi Ishizuka as of April
                                            30, 2021.
Stock
Option Grants
We have
not granted any stock options to our executive officers since our incorporation.
-13-
Table
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Director
Compensation
Our Board
of Directors does not currently receive any consideration for their services as members of the Board of Directors. The Board of Directors
reserves the right in the future to award the members of the Board of Directors cash or stock based consideration for their services
to the Company, which awards, if granted shall be in the sole determination of the Board of Directors.
Executive
Compensation Philosophy
Our Board
of Directors determines the compensation given to our executive officers in their sole determination. Our Board of Directors reserves
the right to pay our executive or any future executives a salary, and/or issue them shares of common stock issued in consideration for
services rendered and/or to award incentive bonuses which are linked to our performance, as well as to the individual executive officer's
performance. This package may also include long-term stock based compensation to certain executives, which is intended to align the performance
of our executives with our long-term business strategies. Additionally, while our Board of Directors has not granted any performance
base stock options to date, the Board of Directors reserves the right to grant such options in the future, if the Board in its sole determination
believes such grants would be in the best interests of the Company.
Incentive
Bonus
The Board
of Directors may grant incentive bonuses to our executive officer and/or future executive officers in its sole discretion, if the Board
of Directors believes such bonuses are in the Company's best interest, after analyzing our current business objectives and growth,
if any, and the amount of revenue we are able to generate each month, which revenue is a direct result of the actions and ability of
such executives.
Long-term,
Stock Based Compensation
In order
to attract, retain and motivate executive talent necessary to support the Company's long-term business strategy we may award our
executive and any future executives with long-term, stock-based compensation in the future, in the sole discretion of our Board of Directors,
which we do not currently have any immediate plans to award.
CERTAIN
RELATIONSHIPS AND RELATED TRANSACTIONS
Next Meats Holdings, Inc.
On
November 18, 2020 our former controlling shareholder, Flint Consulting Services, LLC sold 35,000,000 shares of common stock to Next Meats
Co., Ltd. a Japan Company. The Purchase Price was paid with personal funds of the now former majority shareholders of Next Meats Co.,
Ltd.
On
the same day, November 18, 2020, Paul Moody resigned from his positions of Chief Executive Officer, Chief Financial Officer, President,
Secretary, Treasurer and Director.
Simultaneous
to Paul Moody's resignations, Ryo Shirai was appointed as our Chief Executive Officer and Director, Hideyuki Sasaki as our Chief
Operating Officer and Director, and Koichi Ishizuka as our Chief Financial Officer and Director.
On
January 28, 2021, our then majority shareholder, Next Meats Co., Ltd., along with our Board of Directors took action to ratify, affirm,
and approve the issuance of 452,352,298 shares of restricted common stock to Next Meats Co., Ltd. The shares were issued for services
rendered to the Company. Following this issuance, there were 500,000,000 shares of common stock issued and outstanding.
In
regards to the above transactions, the Company claims an exemption from registration afforded by Section Regulation S of the Securities
Act of 1933, as amended ("Regulation S") for the above issuances of stock since the issuances of stock were made to non-U.S. persons
(as defined under Rule 902 section (k)(2)(i) of Regulation S), pursuant to offshore transactions, and no directed selling efforts were
made in the United States by the issuer, a distributor, any of their respective affiliates, or any person acting on behalf of any of
the foregoing.
On June 9, 2021 Next Meats Holdings,
Inc. entered into a "Share Cancellation and Exchange Agreement" (referred to herein as "the Agreement") with
Next Meats Co., Ltd. A full copy of the agreement is attached as Exhibit 10.1 to our Form 8-K filed on June 9, 2021.
Next Meats Co., Ltd. is referred
to herein as "NMCO", and Next Meats Holdings, Inc., is referred to herein as "the Company", and or "NXMH".
The shareholders of Next Meats Co., Ltd., prior to effectiveness of the aforementioned agreement, are referred to herein as "NMCO
shareholders".
Pursuant to the Agreement, and
at the Effective Time of the Agreement, which is commensurate and equates to the filing of this Form 8-K, NXMH shall acquire NMCO resulting
in NMCO as a wholly owned subsidiary of NXMH.  Immediately prior to the effective time (defined below), each NMCO shareholder shall
cancel and exchange their percentile share interest in NMCO for an equivalent percentile share interest in NXMH. The cancellation and
exchange shall be conducted and equivalent pursuant to each NMCO shareholder's pro rata percentage set forth in the table below (the
"Cancellation and Exchange"). At the Effective Time, NMCO shall issue NXMH 1,000 shares of its common stock to NXMH resulting
in NMCO as a wholly owned subsidiary of NXMH.
Effective Time:
The aforementioned
Agreement is to be effective commensurate with the filing of this Super 8-K, December 16, 2021. At the effective time, NMCO issued 1,000
shares of its common stock to NXMH. As a result, at the Effective Time, Next Meats Co., Ltd. is now a 100% wholly owned subsidiary of
the Company (NXMH).
The aforementioned parties intend
that the reorganization contemplated by this Agreement shall constitute a tax-free organization pursuant to Section 368(a)(1) of the
Internal Revenue Code.
The chart below indicates, amongst other data, the resulting issuance of shares of NXMH to each, now former, shareholder of Next Meats
Co., Ltd. following the Effective Time of the Share Cancellation and Exchange Agreement. Prior to the Effective Time, NMCO was comprised
of the following parties:
NAME
    OF SHAREHOLDER
APPROXIMATE
    PERCENTILE SHARES OWNED OF NMCO (PRIOR TO THE EFFECTIVE TIME)
SHARES
    OWNED OF NMCO (PRIOR TO EFFECTIVE TIME)
PRO
    RATA COMMON SHARES OF NXMH TO BE ISSUED TO NMCO SHAREHOLDER AT THE EFFECTIVE TIME
Ryo
    Shirai
33.4643%
37,402
163,088,842
Hideyuki
    Sasaki
33.4643%
37,402
163,088,842
White Knight
    Co., Ltd.
(owned
    and controlled by Koichi Ishizuka)
19.0575%
21,300
92,877,182
Koichi
    Ishizuka
4.2946%
4,800
20,930,069
Kiyoshi
    Noda
1.9666%
2,198
9,584,227
Rei
    Ishizuka
1.9666%
2,198
9,584,227
Michihito
    Inoue
1.4315%
1,600
6,976,690
Ryonetsu
    Kogyou co., ltd
(Represented
    by Mitsugu Kondo, CEO)
0.8947%
1,000
4,360,431
Hideya
    Marukawa
0.7158%
800
3,488,345
Keiichi
    Yogo
0.7158%
800
3,488,345
Tomonori
    Yoshinaga
0.5368%
600
2,616,259
SJ Capital
    Co., Ltd.
(Represented
    by Takeshi Sugisawa)
0.5073%
567
2,472,364
Okakichi
    Co., Ltd (Represented by Shigeru Okada, CEO)
0.3275%
366
1,595,918
CX Inc.
(Represented
    by Hiromichi Furui, CEO)
0.2988%
334
1,456,384
HEXEL Works,
    Inc.
(Represented
    by Yoichi Nagai, CEO)
0.2684%
300
1,308,129
THREWAYS,
    Inc.
(Represented
    by GENKI HIRAI, CEO)
0.0895%
100
436,044
Total
100.0000%
111,767
487,352,298
Following the Effective Time of
the Share Cancellation and Exchange Agreement, December 16, 2021, Next Meats Co., Ltd. became a 100% wholly owned subsidiary of the Company.
Next Meats Co., Ltd. is no longer our controlling shareholder and any shares previously held by Next Meats Co., Ltd. of the issuer have
subsequently been cancelled and returned to treasury, and are no longer deemed to be issued and outstanding.
The quantities of stock of NXMH,
detailed within the above table, have been issued to the respective parties pursuant to the Share Cancellation and Exchange Agreement.
Following the above, Ryo Shirai,
Hideyuki Sasaki, and Koichi Ishizuka (directly and indirectly through White Knight Co., Ltd.), collectively now own and control approximately
439,984,935 shares of our common stock.
On July 20, 2021, Dr. Foods, Inc.,
formerly known as, "Catapult Solutions, Inc.", a Nevada Corporation ("DRFS"), entered into a Share Purchase Agreement
(the "Agreement") by and among CRS Consulting, LLC, a Wyoming Limited Liability Company ("CRS"), White Knight
Co., Ltd., a Japan Company ("WKC"), and Next Meats Holdings, Inc., a Nevada Company ("NXMH"), pursuant to which,
on July 23, 2021, ("Closing Date"), CRS sold 10,000 shares of DRFS Series Z Preferred Stock, representing approximately 81.20%
voting control of DRFS; 5,000 shares of Series Z Preferred Stock were transferred to WKC and 5,000 shares of Series Z Preferred Stock
were transferred to NXMH. Our Chief Financial Officer, Koichi Ishizuka, owns and controls White Knight Co., Ltd.
On
or about September 17, 2021, we incorporated NextMeats France, a French Company, that will act as a wholly owned subsidiary of the Company.
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Table
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During
the period ended October 31, 2021, the Company's majority shareholder, at the time, Next Meats Co., Ltd., paid expenses on behalf
of the Company totaling $31,885 and purchased stock of Dr. Foods, Inc., on behalf of the Company totaling $187,500. The $219,385 in total
payments are considered contributions to the company with no expectation of repayment and are posted as additional paid-in capital.
Next
Meats Co., Ltd.
Stock Split Carried out on behalf of Next Meats Co., Ltd.
On August 24, 2020 there was a 1,000:1 stock split resulting in an increase
in shares outstanding from 80 to 80,000. At this time it was decided in a shareholders meeting to change the par value of commons shares
from 50,000 JPY to 50 JPY.
Common Shares Issued or Sold
On June 1, 2020, 80 shares of common stock
were issued to Hideyuki Sasaki at par value of 50,000 JPY. Hideyuka Sasaki is the Chief Executive Officer of Next Meats Co., Ltd.
During the period ended April 30, 2021, 22,000 shares
of common stock were sold to related party White Knight Co., Ltd. ("White Knight"). White Knight is controlled by Koichi
Ishizuka. Koichi Ishizuka is Director of Next Meats Co., Ltd.
Loan/ Expenses paid - Next Meats Co., Ltd.
During the period ended October 31, 2021, related
parties paid expenses on behalf of the Company totaling $8,176 and the Company repaid $10,137, resulting in a net balance owed of $751
as of October 31, 2021.
During the period ended April 30, 2021, a related
party paid an expense on behalf of the Company totaling $2,829. This payment is considered a loan to the Company and is bearing 1% annual
interest and payable April 15, 2023. The loan is unsecured.
Other Information
On October 11, 2021, Next Meats Co., Ltd., entered
into and consummated a "Collaboration Agreement" with Dr. Foods Co., Ltd., a Japan Company which is a wholly owned subsidiary
of Dr. Foods, Inc., a Nevada Company. Koichi Ishizuka is the sole officer and Director of Dr. Foods, Inc. Collectively, Next Meats Co.,
Ltd. and White Knight Co., Ltd. own and control approximately 81.20% of the voting control of Dr. Foods, Inc. White Knight Co., Ltd.
is a Japan Company owned and controlled by Koichi Ishizuka. Koichi Ishizuka is the Chief Financial Officer of Next Meats Holdings. He
is also an officer and Director of Next Meats Co., Ltd.
Next Meats Co., Ltd. intends to co-develop new food
products with Dr. Foods Co., Ltd. and subsequently offer them for sale.
Review,
Approval and Ratification of Related Party Transactions
Given
our stage of development, we have not adopted formal policies and procedures for the review, approval or ratification of transactions,
such as those described above, with our executive officers, Directors and significant stockholders. We intend to establish formal policies
and procedures in the future, once we have furthered our business agenda and have appointed additional Directors, so that such transactions
will be subject to the review, approval or ratification of our Board of Directors, or an appropriate committee thereof. On a moving forward
basis, our Directors will continue to approve any related party transaction.
-15-
Table
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Market
Price of & dividends on the registrants common equity & related matters
(a)
Market Information.
Next Meats Holdings, Inc. (we, us, our, or the "Company"),
formerly known as Turnkey Solutions, Inc., was incorporated on April 15, 2020 in the State of Nevada. Prior to the reorganization it
participated in, effective October 28, 2020, it was not quoted on any marketplace or exchange.
*Full
details pertaining to the Reorganization can be viewed in the Company's Form 8-K filed on October 29, 2020.
Quarter
    Ended
High
    Bid
Low
    Bid
October
    31, 2021
$6.00
$2.00
July
    31, 2021
$8.47
$2.30
April
    30, 2021
$13.00
$3.80
January
    31, 2021
$14.50
$0.015
October
    31, 2020 (1)
$0.199
$0.01
(1)
Data for this period begins on October 28, 2020.
Holders
As
                                            of the date of this current report on Form 8-K, we have 500,000,000 shares of common stock,
                                            $0.001 par value, issued and outstanding.
As
of the date of this report, we have approximately 73 shareholders of record.
This is inclusive of Cede and Co., which is deemed to
be one shareholder of record
. For further clarification, Cede & Co. is currently defined by the "NASDAQ", as "a
Nominee name for The Depository Trust Company, a large clearing house that holds shares in its name for banks, brokers and institutions
in order to expedite the sale and transfer of stock."
Dividends and Share Repurchases
We have not paid any dividends to our shareholders.
There are no restrictions which would limit our ability to pay dividends on common equity or that are likely to do so in the future.
Issuer Purchases of Equity Securities
None.
Equity Compensation Plan Information
Not applicable.
LEGAL
PROCEEDINGS
From time
to time, we may become party to litigation or other legal proceedings that we consider to be a part of the ordinary course of our business.
We are not currently involved in legal proceedings that could reasonably be expected to have a material adverse effect on our business,
prospects, financial condition or results of operations. We may become involved in material legal proceedings in the future.
RECENT
SALES OF UNREGISTERED SECURITIES
The
Company has not conducted any recent sales of securities. Although, not a recent sale, it should be noted the Company completed and fulfilled
the terms of its Share Cancellation and Exchange agreement, December 16, 2021, as detailed on page 4 and elsewhere throughout this report.
DESCRIPTION
OF SECURITIES
We have
authorized capital stock consisting of 500,000,000 shares of common stock, $0.001 par value per share ("Common Stock") and
20,000,000 shares of preferred stock, $0.001 par value per share ("Preferred Stock").
As of
the date of this filing we have 500,000,000 shares of Common Stock and no shares of Preferred Stock issued and outstanding.
Common
Stock
Holders
of shares of Common Stock shall be entitled to cast one vote for each share held at all stockholders' meeting for all purposes,
including the election of directors. the Common Stock does not have cumulative voting rights.
No holder
of shares of stock of any class or series shall be entitled as a matter of right to subscribe for purchase or receive any part of any
new or additional issue of shares of stock of any class or series, or of securities convertible into shares of stock of any class or
series, whether now hereafter authorized or whether issued for money, for consideration other than money, or by way of dividend.
We have
500,000,000 shares of Common Stock authorized.
Preferred
Stock
The Preferred
Stock of the corporation shall be issuable by authority of the Board of Directors of the Corporation in one or more classes or one or
more series within any class and such classes or series shall have such voting powers, full or limited, or no voting powers, and such
designations, preferences, limitations or restrictions as the Board of Directors of the Corporation may determine, from time to time.
We have
20,000,000 shares of Preferred Stock Authorized.
Options
and Warrants
None.
Convertible
Notes
None.
-16-
Table
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INDEMNIFICATION
OF OFFICERS AND DIRECTORS
Our directors
and officers are indemnified as provided by the Nevada corporate law and our Bylaws. We have agreed to indemnify each of our directors
and certain officers against certain liabilities, including liabilities under the Securities Act of 1933. Insofar as indemnification
for liabilities arising under the Securities Act of 1933 may be permitted to our directors, officers and controlling persons pursuant
to the provisions described above, or otherwise, we have been advised that in the opinion of the Securities and Exchange Commission such
indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that
a claim for indemnification against such liabilities (other than our payment of expenses incurred or paid by our director, officer or
controlling person in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, we will, unless in the opinion of our counsel the matter has been settled
by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
FINANCIAL
STATEMENTS AND SUPPLEMENTARY DATA
Note
:
Note: The
consolidated financial statements of Next Meats Holdings, Inc., through October 31, 2021 are included herein by reference to our Form
10-Q, filed with the Securities and Exchange Commission on December 15, 2021.
The quarter ending January 31,
2021, and thereafter, will include consolidated financial statements of NextMeats France and also Next Meats Co., Ltd. given the acquisition
of Next Meats Co., Ltd. occurred on December 16, 2021.
Index to Financial
Statements - Next Meats Co., Ltd.
For the Year Ended April
30, 2021
(Audited)
Page
Report
    of Independent Registered Public Accounting Firm
F1
Financial
    Statements:
Balance
    Sheet
F2
Statement
    of Operations
F3
Statement
    of Changes in Stockholder (Deficit)
F4
Statement
    of Cash Flows
F5
Notes
    to Audited Financial Statements
F6
    - F7
Index to Financial
Statements - Next Meats Co., Ltd.
For the Period Ended October
31, 2021
(Unaudited)
Page
Balance
    Sheet
F8
Statement
    of Operations
F9
Statement
    of Changes in Stockholder (Deficit)
F10
Statement
    of Cash Flows
F11
Notes
    to Unaudited Financial Statements
F12
    - F13
Index
to Financial Statements - Pro Forma Financial Information
(Unaudited)
Note
:
The below Pro Forma Financial Information is included herein to give historical financial information of the registrant given the
December 16, 2021 acquisition of Next Meats Co., Ltd.
Page
Pro
    Forma Consolidated Balance Sheets
F14
Pro
    Forma Consolidated Statements of Operations and Comprehensive Loss
F15
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Table
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Report of Independent Registered Public
Accounting Firm
To the shareholders and the board of directors
of Next Meats Co., Ltd.
Opinion on the Financial Statements
We have audited the accompanying balance
sheet of Next Meats Co., Ltd. (the "Company") as of April 30, 2021, the related statement of operations, stockholders' equity
(deficit), and cash flows for the period June 1, 2020 (Inception) through April 30, 2021 and the related notes (collectively referred
to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial
position of the Company as of April 30, 2021, and the results of its operations and its cash flows for the period June 1, 2020 (Inception)
through April 30, 2021, in conformity with accounting principles generally accepted in the United States.
Substantial Doubt about the Company's
Ability to Continue as a Going Concern
The accompanying financial statements
have been prepared assuming that the Company will continue as a going concern. As discussed in Note 3 to the financial statements, the
Company's significant operating losses raise substantial doubt about its ability to continue as a going concern. The financial
statements do not include any adjustments that might result from the outcome of this uncertainty.
Basis for Opinion
These financial statements are the responsibility
of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audit. We
are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are
required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and
regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audit in accordance with
the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were
we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an
understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the
Company's internal control over financial reporting. Accordingly, we express no such opinion.
Our audit included performing procedures
to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that
respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial
statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as
evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.
/S BF Borgers CPA PC
BF Borgers CPA PC
We have served as the Company's auditor since 2021
Lakewood, CO
December 16, 2021
-F1-
Table
of Contents
NEXT
    MEATS CO., LTD.
BALANCE
    SHEETS
April 30,
2021
(Audited)
ASSETS
Current
    Assets
Cash
    and cash equivalents
$
7,210,200
Accounts
    receivable, trade
144,809
Accounts
    receivable, other
118,662
Advance
    payments and prepaid expenses
38,954
Inventories
249,434
TOTAL
    CURRENT ASSETS
7,762,059
Non-current
    assets
Furniture,
    fixtures and equipment, net
$
206,468
Construction
    in progress
169,325
Stock
316,717
Long
    term prepaid expenses and security deposits, net
$
31,161
TOTAL
    NON-CURRENT ASSETS
723,671
TOTAL
    ASSETS
$
8,485,731
LIABILITIES
    AND SHAREHOLDERS' EQUITY
Current
    Liabilities
Accrued
    expenses and other payables
$
482,657
Income
    tax payables
3,679
Due
    to related party
2,829
TOTAL
    CURRENT LIABILITIES
489,165
TOTAL
    LIABILITIES
$
489,165
Shareholders'
    Equity
Common
    stock (50 JPY par value, 2,000,000,000 shares authorized,
111,767
    shares issued and outstanding as of April 30, 2021)
52,374
Additional
    paid-in capital
9,056,002
Accumulated
    deficit
(1,041,749)
Accumulated
    other comprehensive income(loss)
(70,061)
TOTAL
    SHAREHOLDERS' EQUITY
$
7,996,556
TOTAL
    LIABILITIES AND SHAREHOLDERS' EQUITY
$
8,485,731
The accompanying notes are an integral part of these
audited financial statements.
-F2-
Table
of Contents
NEXT
    MEATS CO., LTD.
STATEMENTS
    OF OPERATIONS AND COMPREHENSIVE INCOME
(audited)
For the Year
Ended April 30, 2021
Revenues
$
398,386
Cost
    of revenues
301,166
Gross
    profit
$
97,220
OPERATING
    EXPENSE
General
    and administrative expenses
1,131,494
Depreciation
4,711
Total
    operating expenses
1,136,205
Income
    (loss) from operations
(1,038,985)
Other
    income (expense)
Other
    income
1,017
Total
    other income (expenses)
1,017
Net
    income (loss) before tax
(1,037,968)
Income
    tax expense
3,780
NET
    INCOME (LOSS)
$
(1,041,749)
OTHER
    COMPREHENSIVE INCOME (LOSS)
Foreign
    currency translation adjustment
$
(70,061)
TOTAL
    COMPREHENSIVE INCOME (LOSS)
$
(1,111,810)
Income
    per common share
Basic
$
(14.55)
Diluted
$
-
Weighted
    average common shares outstanding
Basic
71,581
Diluted
-
The accompanying notes are an integral part of these
audited financial statements.
-F3-
Table
of Contents
Next Meats
Co., Ltd.
Statement
of Changes in Stockholders' Equity (Deficit)
For the
Period June 1, 2020 to April 30, 2021
(Audited)
Common
    Shares
Par
    Value Common Shares
Additional
    Paid-in Capital
Accumulated
    Other Comprehensive Income
Accumulated
    Deficit
Total
Balances,
    June 1, 2020
-
$
-
$
-
$
-
$
-
$
-
Common
    shares issued at reorganization
80
37,182
-
-
-
37,182
Stock
    split
79,920
-
-
-
-
-
Common
    shares sold
29,200
14,014
1,987,503
-
-
2,001,516
Net
    loss
-
-
-
-
(162,263)
(162,263)
Foreign
    currency translation
-
-
-
(25,447)
-
(25,447)
Balances,
    January 31, 2021
109,200
$
51,195
$
1,987,503
$
(25,447)
(162,263)
$
1,850,988
Common
    shares sold
2,567
1,178
7,068,499
-
-
7,069,678
Net
    loss
-
-
-
-
(879,486)
(879,486)
Foreign
    currency translation
-
-
-
(44,614)
-
(44,614)
Balances,
    April 30, 2021
111,767
$
52,374
$
9,056,002
$
(70,061)
(1,041,749)
$
7,996,566
The accompanying notes are an integral part of these
audited financial statements.
-F4-
Table
of Contents
NEXT MEATS CO., LTD.
STATEMENT OF CASH FLOWS
(Audited)
For
    the Year Ended
April
    30, 2021
CASH
    FLOWS FROM OPERATING ACTIVITIES
Net
    income
$
(1,041,749)
Adjustments
    to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation
    and amortization
4,711
Changes
    in operating assets and liabilities:
Accounts
    receivable
(263,471)
Advance
    payments and other prepaid expense
(38,954)
Inventories
(249,434)
Accounts
    payable
482,657
Accounts
    payable – related party
2,829
Income
    tax payables
3,679
Other
    current liabilities
-
Net
    cash used in operating activities
(1,099,732)
CASH
    FLOWS FROM INVESTING ACTIVITIES
Cash
    paid for purchase of fixed assets
(728,383)
Net
    cash used in investing activities
(728,383)
CASH
    FLOWS FROM FINANCING ACTIVITIES
Stock
    issuance
9,108,376
Net
    cash provided by (used in) financing activities
9,108,376
Net
    effect of exchange rate changes on cash
$
(70,061)
Net
    Change in Cash and Cash Equivalents
7,210,200
Cash
    and cash equivalents - beginning of period
-
Cash
    and cash equivalents - end of period
$
7,210,200
SUPPLEMENTAL
    DISCLOSURES OF CASH FLOW INFORMATION
Interest
    paid
$
Income
    taxes paid
$
The accompanying notes are an integral part of these
audited financial statements.
-F5-
Table
of Contents
NEXT MEATS
CO., Ltd.
NOTES TO FINANCIAL STATEMENTS
APRIL 30, 2021
(AUDITED)
NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS
Next Meats Co., Ltd. ("the Company")
was incorporated on June 1, 2020, in Tokyo, Japan.
Description of Business
The purpose of the Company shall be to engage in
the following business activities:
1.
Import,
                                            sales, planning and manufacturing of various food products
2.
Wholesale
                                            and retail sale of food products
3.
Trading
                                            business
4.
Planning
                                            and management of events for advertising and PR activities
5.
Consulting
                                            services
The main office of the Company is located in Shinjuku
Ward, Tokyo, Japan.
The Company's fiscal year-end is April 30th.
Recent Developments
In January 2020, the World
Health Organization (the "WHO") announced a global health emergency because of a new strain of coronavirus ("COVID-19")
originating in Wuhan, China and the risks to the international community as the virus spread globally beyond its point of origin. In
March 2020, the WHO classified the COVID-19 outbreak as a pandemic based on the rapid increase in global exposure.
Our operations have not
been significantly impacted. No impairments were recorded as of April 30, 2021 and no triggering events or changes in circumstances had
occurred. However, the full impact of the COVID-19 pandemic continues to evolve subsequent to the fiscal year ended April 30, 2021 and
as of the date these financial statements are issued. As such, the full magnitude of the COVID-19 pandemic, and the resulting impact,
if any, on the Company's financial condition, liquidity, and future results of operations is uncertain. Management is actively
monitoring the global situation on our financial condition, liquidity, operations, suppliers, industry, and customers. Reduced demand
for products or impaired ability to meet customer demand (including as a result of disruptions at the Company's suppliers) could
have a material adverse effect on its business operations and financial performance. Given the daily evolution of the COVID-19 pandemic
and the global responses to curb its spread, the Company is not presently able to estimate the effects of the COVID-19 pandemic on its
results of operations, financial condition, or liquidity for the current fiscal year. As of the date of this filing, the Company's
recently commenced business operations have not been impacted.
Note 2 – Basis of Presentation and Significant Accounting
Policies
Basis of Presentation
This summary of significant accounting policies
is presented to assist in understanding the Company's financial statements. These accounting policies conform to accounting principles,
generally accepted in the United States of America ("US GAAP") and have been consistently applied in the preparation of the
financial statements.
Income Tax
Income taxes are provided for the tax effects of
transactions reported in the financial statements and consist of taxes currently due plus deferred taxes related primarily to differences
between the recorded book basis and the tax basis of assets and liabilities for financial and income tax reporting. Deferred tax assets
and liabilities represent the future tax return consequences of those differences, which will either be taxable or deductible when the
assets and liabilities are recovered or settled. Deferred taxes are also recognized for operating losses that are available to offset
future taxable income and tax credits that are available to offset future federal income taxes. The Company believes that its income
tax filing positions and deductions will be sustained on audit and does not anticipate any adjustments that will result in a material
adverse effect on the Company's financial condition, results of operations, or cash flow. Therefore, no reserves for uncertain
income tax positions have been recorded pursuant to ASC 740.
Fair Value of Financial Instruments
The Company's balance sheet includes
certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of
the relatively short period of time between the origination of these instruments and their expected realization.
ASC 820,
Fair Value Measurements and Disclosures
("ASC
820"), defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price)
in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the
measurement date. ASC 820 also establishes a fair value hierarchy that distinguishes between (1) market participant assumptions
developed based on market data obtained from independent sources (observable inputs) and (2) an entity's own assumptions about
market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair
value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical
assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy
are described below:
·
Level
    1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets
    or liabilities.
·
Level
    2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly
    or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar
    assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability
    (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or
    other means.
·
Level 3 - Inputs that are
    both significant to the fair value measurement and unobservable.
Fair value estimates discussed herein are based upon
certain market assumptions and pertinent information available to management as of April 30, 2021. The respective carrying value of certain
on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial
instruments include accrued expenses.
Share-Based Compensation
The Company measures the cost of services received
in exchange for an award of equity instruments based on the fair value of the award. For employees and directors and non-employees, the
fair value of the award is measured on the grant date. The fair value amount is then recognized over the period during which services
are required to be provided in exchange for the award, usually the vesting period.
The Company's stock-based compensation for the period ended April
30, 2021 was $0.
-F6-
Table
of Contents
Recently Adopted Accounting Pronouncements
The
Company has adopted the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC")
Topic 350 provides guidance on financial accounting and reporting related to franchise rights and other intangibles for U.S. GAAP. Per
ASC 350, originally issued as Financial Accounting Standards No. 142 in June 2001 and subsequently updated by Accounting Standards Update
("ASU") 2010-28, franchise rights are not amortized, but tested for impairment at the reporting unit level (the operating
segment or one level below). Under the rules, if conditions exist that it is "more likely than not" that fair value of reporting
unit is less than its carrying value, then a two-step impairment test is performed to identify potential franchise rights impairment
and measure the amount of loss to be recognized (if any). This franchise rights impairment test is required at least annually, or more
frequently if certain events occur and circumstances change.
No impairments were recorded as of April 30, 2021. Management determined
that there has been no significant reduction in the fair market value of the franchise rights and no triggering events or changes in
circumstances had occurred to require an impairment test.
Note 3 - Going
Concern
The Company's
financial statements are prepared in accordance with GAAP applicable to a going concern that contemplates the realization of assets and
liquidation of liabilities in the normal course of business. The Company considered its going concern disclosure requirements in accordance
with ASC 240-40-50.
The Company did not generate sufficient revenue to cover
operating expenses during the period ended April 30, 2021. Management plans to fund some operating expenses with related party loans
and/or the sale of shares of stock until the Company realizes sufficient revenue to cover operating expenses. There is no assurance that
management's plan will be successful.
The financial statements do not include any adjustments relating
to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary
if the Company cannot continue as a going concern.
Note
4 - Income Tax
The Company has not recognized
an income tax benefit for its operating losses generated based on uncertainties concerning its ability to generate taxable income in
future periods. The tax benefit for the period presented is offset by a valuation allowance established against deferred tax assets arising
from the net operating losses, the realization of which could not be considered more likely than not. In future periods, tax benefits
and related deferred tax assets will be recognized when management considers realization of such amounts to be more likely than not.
As of April 30, 2021, the Company has incurred a net loss of approximately $1,041,749 which resulted in a net operating loss for income
tax purposes.  The loss results in a deferred tax asset of approximately $218,767 at the effective statutory rate of 21%. The deferred
tax asset has been offset by an equal valuation allowance. Given our inception on June 1, 2020, and our fiscal year end of April 30,
2021, we have not yet completed a taxable fiscal year.
Note
5 - Commitments and Contingencies
The Company follows ASC 450-20,
Los
s
Contingencies,
to
report accounting for contingencies.  Liabilities for loss contingencies arising from claims, assessments, litigation, fines and
penalties and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can
be reasonably estimated. There were no commitments or contingencies as of April 30, 2021.
Note 6 -
Stockholder Equity
Stock Split
On August 24, 2020 there was a 1,000:1 stock split resulting in an increase
in shares outstanding from 80 to 80,000. At this time it was decided in a shareholders meeting to change the par value of commons shares
from 50,000 JPY to 50 JPY.
Common Shares Issued
On June 1, 2020, 80 shares of common stock
were issued to Hideyuki Sasaki at par value of 50,000 JPY.
During the period	 ended April 30, 2021, 31,767
shares of common stock were sold to ten shareholders for proceeds totaling $9,071,194.
Note
7 - Related-Party Transactions
Common shares
During the period	 ended April 30, 2021, 22,000
shares of common stock were sold to related party White Knight Co., Ltd ("White Knight"). White Knight is controlled by our
director, Koichi Ishizuka.
Loan to Company
During the period ended April 30, 2021, a related
party paid an expense on behalf of the Company totaling $2,829. This payment is considered a loan to the Company and is bearing 1% annual
interest and payable April 15, 2023. The loan is unsecured.
Note
8 - Subsequent Events
None.
-F7-
Table
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NEXT
    MEATS CO., LTD.
BALANCE SHEETS
(Unaudited)
October 31,
2021
April 30,
2021
ASSETS
Current
    Assets
Cash
    and cash equivalents
$
2,608,004
$
7,210,200
Accounts
    receivable, trade
301,035
144,809
Advance
    payments and prepaid expenses
2,194,674
38,954
Accounts
    receivable, other
89,597
118,662
Inventories
980,605
249,434
TOTAL
    CURRENT ASSETS
6,173,915
7,762,059
Non-current
    assets
Furniture,
    fixtures and equipment, net
$
204,903
$
206,468
Construction
    in progress
318,802
169,325
Land
    and improvements
1,246,488
-
Stock
486,268
316,717
Long
    term prepaid expenses and security deposits, net
$
23,440
31,161
TOTAL
    NON-CURRENT ASSETS
2,279,901
723,671
TOTAL
    ASSETS
$
8,453,817
$
8,485,731
LIABILITIES
    AND SHAREHOLDERS' EQUITY
Current
    Liabilities
Accrued
    expenses and other payables
$
2,317,665
$
482,657
Income
    tax payable
395,589
3,679
Due
    to related party
751
2,829
TOTAL
    CURRENT LIABILITIES
2,714,005
489,165
Noncurrent
    Liabilities
$
307,909
$
-
TOTAL
    NONCURRENT LIABILITIES
307,909
-
TOTAL
    LIABILITIES
$
3,021,904
$
489,165
Shareholders'
    Equity
Common
    stock (50 JPY par value, 2,000,000,000 shares authorized,
111,767
    shares issued and outstanding as of October 31, 2021 and April 30, 2021)
52,374
52,374
Additional
    paid-in capital
9,056,002
9,056,002
Accumulated
    deficit
(3,344,221)
(1,041,749)
Accumulated
    other comprehensive income(loss)
(332,251)
(70,061)
TOTAL
    SHAREHOLDERS' EQUITY
$
5,431,904
$
7,996,556
TOTAL
    LIABILITIES AND SHAREHOLDERS' EQUITY
$
8,453,817
$
8,485,731
The
    accompanying notes are an integral part of these unaudited financial statements.
-F8-
Table
of Contents
NEXT
    MEATS CO., LTD.
STATEMENTS
    OF OPERATIONS AND COMPREHENSIVE INCOME
(Unaudited)
For the Three
Months Ended October 31,
2021
For the Three
Months Ended
October 31,
2020
For the Six Months Ended October 31, 2021
For the Period June 1, 2020 (Inception) to October
    31, 2020
Revenues
$
3,815,510
$
72,348
$
5,184,080
$
72,348
Cost
    of revenues
3,805,247
52,081
5,075,142
$
52,081
Gross
    profit
$
10,262
$
20,267
$
108,938
$
20,267
OPERATING
    EXPENSE
General
    and administrative expenses
1,146,911
75,972
2,344,362
95,364
Depreciation
13,139
-
24,750
-
Total
    operating expenses
1,160,051
75,972
2,369,112
95,364
Income
    (loss) from operations
(1,149,788)
(55,706)
(2,260,174)
75,097
Other
    income (expense)
Interest
    expense
(966)
-
(1,484)
-
Other
    expense
1,098
37
6,407
37
Other
    income
(1,016)
-
(2,049)
-
Total
    other income (expenses)
(883)
37
2,873
37
Net
    income (loss) before tax
(1,150,671)
(55,668)
(2,257,301)
(75,060)
Income
    tax expense
(237)
-
45,171
-
NET
    INCOME (LOSS)
$
(1,150,434)
$
(55,668)
(2,302,472)
(75,060)
OTHER
    COMPREHENSIVE INCOME (LOSS)
Foreign
    currency translation adjustment
$
(216,884)
$
6,139
$
(262,190)
$
6,505
TOTAL
    COMPREHENSIVE INCOME (LOSS)
$
(1,367,318)
$
(49,529)
$
(2,564,662)
$
(68,555)
Income
    per common share
Basic
$
(10.29)
$
(0.86)
$
(59.26)
$
(0.67)
Diluted
$
-
$
-
$
-
$
-
Weighted
    average common shares outstanding
Basic
$
111,767
$
64,559
$
38,852
$
111,767
Diluted
$
-
$
-
$
-
$
-
The
    accompanying notes are an integral part of these unaudited financial statements.
-F9-
Table
of Contents
Next Meats
Co., Ltd.
Statement
of Changes in Stockholders' Equity (Deficit)
For the
Period June 1, 2020 (Inception) to October 31, 2021
Common
    Shares
Par
    Value Common Shares
Additional
    Paid-in Capital
Accumulated
    Other Comprehensive Income
Accumulated
    Deficit
Total
Balances,
    June 1, 2020
-
$
-
$
-
$
-
$
-
$
-
Common
    shares issued at reorganization
80
37,182
-
-
-
37,182
Stock
    split
79,920
-
-
-
-
-
Common
    shares sold
31,767
15,192
9,056,002
-
-
9,071,194
Net
    loss
-
-
-
-
(1,041,749)
(1,041,749)
Foreign
    currency translation
-
-
-
(70,061)
-
(70,061)
Balances,
    April 30, 2021
111,767
$
52,374
$
9,056,002
(70,061)
(1,041,749)
$
7,996,566
Net
    loss
-
-
-
-
(1,152,038)
(1,152,038)
Foreign
    currency translation
-
-
-
(45,306)
-
(45,306)
Balances,
    July 31, 2021
111,767
$
52,374
$
9,056,002
$
(115,367)
$
(2,193,787)
$
6,799,222
Net
    loss
-
-
-
-
(1,150,434)
(1,150,434)
Foreign
    currency translation
-
-
-
(216,884)
-
(216,884)
Balances,
    October 31, 2021
111,767
$
52,374
$
9,056,002
$
(332,251)
(3,344,221)
$
5,431,904
Next Meats
Co., Ltd.
Statement
of Changes in Stockholders' Equity (Deficit)
For the
Period June 1, 2020 (Inception) to October 31, 2020
Common
    Shares
Par
    Value Common Shares
Additional
    Paid-in Capital
Common Stock Payable
Accumulated
    Other Comprehensive Income
Accumulated
    Deficit
Total
Balances,
    June 1, 2020
-
$
-
$
-
$
-
$
-
$
-
$
-
Common
    shares issued at reorganization
80
37,182
-
-
-
-
37,182
Net
    loss
-
-
-
-
-
(19,391)
(19,391)
Foreign
    currency translation
-
-
-
-
366
-
366
Balances,
    July 31, 2020
80
$
37,182
$
-
$
-
$
366
$
(19,391)
$
18,156
Common
    shares issued (par value @50 JPY)
87,120
33,888
33,889
-
-
-
67,777
Cash
    received for common stock payable
-
-
-
462,701
-
-
462,701
Net
    loss
-
-
-
-
-
(55,669)
(55,669)
Foreign
    currency translation
-
-
-
-
6,139
-
6,139
Balances,
    October 31, 2020
87,200
$
71,070
$
33,889
$
462,701
$
6,505
$
(75,060)
$
499,105
The accompanying notes are an
integral part of these unaudited financial statements.
-F10-
Table
of Contents
NEXT MEATS CO., LTD.
STATEMENT
    OF CASH FLOWS
(Unaudited)
For the
Six Months
Ended October 31, 2021
For the Period
June 1, 2020 (Inception)
to October 31, 2020
CASH
    FLOWS FROM OPERATING ACTIVITIES
Net
    income
$
(2,302,472)
$
(75,060)
Adjustments
    to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation
    and amortization
24,750
-
Changes
    in operating assets and liabilities:
Accounts
    receivable
(127,161)
(26,851)
Accrued
    expenses and other payables
1,835,008
6,958
Advance
    payments and other prepaid expense
(2,143,419)
41,770
Inventories
(731,171)
-
Accounts
    payable – related party
(2,078)
4,731
Security
    deposit
(4,580)
-
Income
    tax payable
391,910
-
Net
    cash used in operating activities
(3,059,214)
(48,451)
CASH
    FLOWS FROM INVESTING ACTIVITIES
Cash
    paid for land and improvements
(1,395,964)
-
Cash paid for purchase of fixed assets
(23,184)
-
Cash
    paid for stock
(169,551)
-
Net
    cash used in investing activities
(1,588,700)
-
CASH
    FLOWS FROM FINANCING ACTIVITIES
Loans
307,909
-
Stock
    issuance
-
104,959
Net
    cash provided by financing activities
307,909
104,959
Net
    effect of exchange rate changes on cash
$
(262,190)
$
6,505
Net
    Change in Cash and Cash Equivalents
(4,602,196)
63,013
Cash
    and cash equivalents - beginning of period
7,210,200
-
Cash
    and cash equivalents - end of period
$
2,608,004
$
63,013
SUPPLEMENTAL
    DISCLOSURES OF CASH FLOW INFORMATION
Interest
    paid
$
1,484
$
-
Income
    taxes paid
$
-
$
NON-CASH
    INVESTING AND FINANCING TRANSACTIONS
$
-
$
The
    accompanying notes are an integral part of these unaudited financial statements.
-F11-
Table
of Contents
NEXT MEATS
CO., LTD.
NOTES TO FINANCIAL STATEMENTS
OCTOBER 31, 2021
(UNAUDITED)
NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS
Next Meats Co., Ltd. ("the Company")
was incorporated on June 1, 2020, in Tokyo, Japan.
Description of Business
The purpose of the Company shall be to engage in
the following business activities:
1.
Import,
                                            sales, planning and manufacturing of various food products;
2.
Wholesale
                                            and retail sale of food products;
3.
Trading
                                            business;
4.
Planning
                                            and management of events for advertising and PR activities;
5.
Consulting
                                            services.
The main office of the Company is located in Shinjuku
Ward, Tokyo, Japan.
The Company's fiscal year-end is April 30th.
Recent Developments
In January 2020, the World
Health Organization (the "WHO") announced a global health emergency because of a new strain of coronavirus ("COVID-19")
originating in Wuhan, China and the risks to the international community as the virus spread globally beyond its point of origin. In
March 2020, the WHO classified the COVID-19 outbreak as a pandemic based on the rapid increase in global exposure.
Our operations have
not been significantly impacted. No impairments were recorded as of October 31, 2021 and no triggering events or changes in circumstances
had occurred. However, the full impact of the COVID-19 pandemic continues to evolve subsequent to the period ended October 31, 2021 and
as of the date these financial statements are issued. As such, the full magnitude of the COVID-19 pandemic, and the resulting impact,
if any, on the Company's financial condition, liquidity, and future results of operations is uncertain. Management is actively
monitoring the global situation on our financial condition, liquidity, operations, suppliers, industry, and customers. Reduced demand
for products or impaired ability to meet customer demand (including as a result of disruptions at the Company's suppliers) could
have a material adverse effect on its business operations and financial performance. Given the daily evolution of the COVID-19 pandemic
and the global responses to curb its spread, the Company is not presently able to estimate the effects of the COVID-19 pandemic on its
results of operations, financial condition, or liquidity for the current fiscal year. As of the date of this filing, the Company's
recently commenced business operations have not been impacted.
Note 2 – Basis of Presentation and Significant Accounting
Policies
Basis of Presentation
This summary of significant accounting
policies is presented to assist in understanding the Company's financial statements. These accounting policies conform to accounting
principles, generally accepted in the United States of America ("US GAAP") and have been consistently applied in the preparation
of the financial statements.
Income Tax
Income taxes are provided for the tax effects
of transactions reported in the financial statements and consist of taxes currently due plus deferred taxes related primarily to differences
between the recorded book basis and the tax basis of assets and liabilities for financial and income tax reporting. Deferred tax assets
and liabilities represent the future tax return consequences of those differences, which will either be taxable or deductible when the
assets and liabilities are recovered or settled. Deferred taxes are also recognized for operating losses that are available to offset
future taxable income and tax credits that are available to offset future federal income taxes. The Company believes that its income
tax filing positions and deductions will be sustained on audit and does not anticipate any adjustments that will result in a material
adverse effect on the Company's financial condition, results of operations, or cash flow. Therefore, no reserves for uncertain
income tax positions have been recorded pursuant to ASC 740.
Fair Value of Financial Instruments
The Company's balance sheet includes
certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of
the relatively short period of time between the origination of these instruments and their expected realization.
ASC 820,
Fair Value Measurements and Disclosures
("ASC
820"), defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price)
in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the
measurement date. ASC 820 also establishes a fair value hierarchy that distinguishes between (1) market participant assumptions
developed based on market data obtained from independent sources (observable inputs) and (2) an entity's own assumptions about
market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair
value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical
assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy
are described below:
·
Level
    1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets
    or liabilities.
·
Level 2 – Inputs
    other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including
    quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in
    markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates);
    and inputs that are derived principally from or corroborated by observable market data by correlation or other means.
·
Level 3 - Inputs that are
    both significant to the fair value measurement and unobservable.
Fair value estimates discussed herein are based upon
certain market assumptions and pertinent information available to management as of October 31, 2021. The respective carrying value of
certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These
financial instruments include accrued expenses.
Share-Based Compensation
The Company measures the cost of services received
in exchange for an award of equity instruments based on the fair value of the award. For employees and directors and non-employees, the
fair value of the award is measured on the grant date. The fair value amount is then recognized over the period during which services
are required to be provided in exchange for the award, usually the vesting period.
The Company's stock-based compensation for the periods ended October
31, 2021 and October 31, 2020 was $0 for both periods.
-F12-
Table
of Contents
Recently Adopted Accounting Pronouncements
The
Company has adopted the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC")
Topic 350 provides guidance on financial accounting and reporting related to franchise rights and other intangibles for U.S. GAAP. Per
ASC 350, originally issued as Financial Accounting Standards No. 142 in June 2001 and subsequently updated by Accounting Standards Update
("ASU") 2010-28, franchise rights are not amortized, but tested for impairment at the reporting unit level (the operating
segment or one level below). Under the rules, if conditions exist that it is "more likely than not" that fair value of reporting
unit is less than its carrying value, then a two-step impairment test is performed to identify potential franchise rights impairment
and measure the amount of loss to be recognized (if any). This franchise rights impairment test is required at least annually, or more
frequently if certain events occur and circumstances change.
No impairments were recorded as of October 31, 2021. Management determined
that there has been no significant reduction in the fair market value of the franchise rights and no triggering events or changes in
circumstances had occurred to require an impairment test.
Note 3 –
Going Concern
The Company's
financial statements are prepared in accordance with GAAP applicable to a going concern that contemplates the realization of assets and
liquidation of liabilities in the normal course of business. The Company considered its going concern disclosure requirements in accordance
with ASC 240-40-50.
The Company did not generate sufficient revenue to cover
operating expenses during the period ended April 30, 2021. Management plans to fund some operating expenses with related party loans
and/or the sale of shares of stock until the Company realizes sufficient revenue to cover operating expenses. There is no assurance that
management's plan will be successful.
The financial statements do not include any adjustments relating
to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary
if the Company cannot continue as a going concern.
Note
4 – Income Tax
The Company has not recognized
an income tax benefit for its operating losses generated based on uncertainties concerning its ability to generate taxable income in
future periods. The tax benefit for the period presented is offset by a valuation allowance established against deferred tax assets arising
from the net operating losses, the realization of which could not be considered more likely than not. In future periods, tax benefits
and related deferred tax assets will be recognized when management considers realization of such amounts to be more likely than not.
As of October 31, 2021, the Company has incurred a net loss of approximately $3,344,221 which resulted in a net operating loss for income
tax purposes.  The loss results in a deferred tax asset of approximately $702,286 at the effective statutory rate of 21%. The deferred
tax asset has been offset by an equal valuation allowance. Given our inception on June 1, 2020, and our fiscal year end of April 30,
2021, we have completed only one taxable fiscal year.
Note
5 – Commitments and Contingencies
The Company follows ASC 450-20,
Los
s
Contingencies,
to
report accounting for contingencies.  Liabilities for loss contingencies arising from claims, assessments, litigation, fines and
penalties and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can
be reasonably estimated. There were no commitments or contingencies as of October 31, 2021.
Note 6 –
Stockholder Equity
Stock Split
On August 24, 2020 there was a 1,000:1 stock split resulting in an increase
in shares outstanding from 80 to 80,000. At this time it was decided in a shareholders meeting to change the par value of commons shares
from 50,000 JPY to 50 JPY.
Common Shares Issued
On June 1, 2020, 80 shares of common stock
were issued to Hideyuki Sasaki at par value of 50,000 JPY.
During the period	 ended April 30, 2021, 31,767
shares of common stock were sold to ten shareholders for proceeds totaling $9,071,194.
Note
7 – Related-Party Transactions
Common shares
During the period	 ended April 30, 2021, 22,000
shares of common stock were sold to related party White Knight Co., Ltd ("White Knight"). White Knight is controlled by our
director, Koichi Ishizuka.
Loan to Company
During the period ended April 30, 2021, a related
party paid an expense on behalf of the Company totaling $2,829. This payment is considered a loan to the Company and is bearing 1% annual
interest and payable April 15, 2023. The loan is unsecured.
During the period ended October 31, 2021, related
parties paid expenses on behalf of the Company totaling $8,176 and the Company repaid $10,137, resulting in a net balance owed of $751
as of October 31, 2021.
Note
8 - Subsequent Events
We were and are a party to the Share Cancellation
and Exchange Agreement entered into on June 9, 2021 and later consummated on December 16, 2021. The Share Cancellation and Exchange Agreement
is detailed herein beginning on page 4. Following the Effective Time of the aforementioned agreement, the parties listed in the chart
herein on page 5 ceased to be shareholders of Next Meats Co., Ltd. and the sole shareholder of Next Meats Co., Ltd. became and is now
Next Meats Holdings, Inc., holding 1,000 shares of our common stock, which constitutes 100% of our issued and outstanding shares as of
the date of this report. At the Effective Time of the agreement, the shareholders who previously made up the shareholders of Next Meats
Co., Ltd., became shareholders of Next Meats Holdings, Inc., and were issued the respective quantities of shares of Next Meats Holdings,
Inc. as is noted in the table above on page 5.
-F13-
Table
of Contents
The following unaudited pro forma consolidated financial statements
are based on historical financial statements of Next Meats Co., Ltd. and Next Meats Holdings to give effect to the acquisition of Next
Meats Co., Ltd., as though it had occurred during the period ending October 31, 2021.
The unaudited pro forma consolidated balance sheet as of October
31, 2021 gives effect to the acquisition of Next Meats Co., Ltd. as if it had occurred on October 31, 2021.
The pro forma combined financial statements do not necessarily
reflect what the combined company's financial condition or results of operations would have been had the acquisition occurred on
the dates indicated. They also may not be useful in predicting the future financial condition and results of operations of the combined
company. The actual financial position and results of operations may differ significantly from the pro forma amounts reflected herein
due to a variety of factors.
NEXT
    MEATS HOLDINGS, INC.
(UNAUDITED
    PRO FORMA CONSOLIDATED BALANCE SHEETS)
NEXT
    MEATS HOLDINGS, INC.
NEXT
    MEATS CO., LTD
Consolidated
October
    31, 2021
October
    31, 2021
Pro
    Forma
Pro
    Forma
Adjustment
Result
ASSETS
Current
    Assets
Cash
    and cash equivalents
$
65,887
$
2,608,004
$
-
$
2,673,891
Accounts
    receivable
794
390,633
-
391,427
Advance
    payments and prepaid expenses
-
2,194,674
-
2,194,674
Inventories
6,089
980,606
-
986,695
TOTAL
    CURRENT ASSETS
72,770
6,173,917
-
6,246,687
Furniture,
    fixtures and equipment, net
-
204,903
-
204,903
Construction
    in progress
-
318,802
-
318,802
Land
    and improvements
-
1,246,488
-
1,246,488
Stock
187,500
486,268
-
673,768
Long-term
    prepaid expenses and security deposits, net
-
23,440
-
23,440
TOTAL
    NONCURRENT ASSETS
187,500
2,279,900
-
2,467,400
TOTAL
    ASSETS
$
260,270
$
8,453,817
$
-
$
8,714,087
LIABILITIES
    AND SHAREHOLDERS' DEFICIT
Current
    liabilities:
Accrued
    expenses and other payables
$
11,402
$
2,317,664
$
-
$
2,329,066
Income
    tax payable
-
395,589
-
395,589
Due
    to related party
-
751
-
751
TOTAL
    CURRENT LIABILITIES
11,402
2,714,004
-
2,725,406
Noncurrent
    liabilities:
Loans
$
-
$
307,909
$
-
$
307,909
TOTAL
    NONCURRENT LIABILITIES
-
307,909
-
307,909
TOTAL
    LIABILITIES
11,402
3,021,905
-
3,033,315
SHAREHOLDERS'
    DEFICIT
Preferred
    stock ($.001 par value, 20,000,000 shares authorized;
none
    issued and outstanding as of October 31, 2021)
-
-
-
-
Common
    stock ($.001 par value, 500,000,000 shares authorized,
500,000,000
    shares issued and outstanding as of October 31, 2021)
500,000
-
-
500,000
Common
    stock (50 yen par value, 2,000,000,000 shares authorized,
111,767
    shares issued and outstanding as of October 31, 2021
-
52,374
(52,374)
-
Non-controlling
    interest
70,422
-
-
70,422
Additional
    paid in capital
5,880,332,215
9,056,002
52,374
5,889,440,591
Accumulated
    deficit
(5,880,653,436)
(3,344,221)
-
(5,883,997,657)
Accumulated
    other comprehensive income(loss)
(332)
(332,251)
-
(332,583)
TOTAL
    SHAREHOLDERS' DEFICIT
248,868
5,431,904
-
5,680,772
TOTAL
    LIABILITIES & STOCKHOLDERS' DEFICIT
$
260,270
$
8,453,817
$
-
$
8,714,087
-F14-
Table of Contents
NEXT
    MEATS HOLDINGS, INC.
(UNAUDITED
    PRO FORMA CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS)
Pro
    Forma
Consolidated
Adjustment
NEXT
    MEATS HOLDINGS,INC.
NEXT
    MEATS CO., LTD.
For
                                            the six months
Ended
For
                                            the six months
Ended
For
                                            the six months
Ended
October
    31, 2021
October
    31, 2021
October
    31, 2021
Revenues
$
-
$
5,184,080
$
-
$
5,184,080
Cost
    of Revenues
-
5,075,142
-
5,075,142
Gross
    Profit
-
108,938
-
108,938
Operating
    Expenses
General
    and Administrative Expenses
$
30,907
$
2,344,362
$
-
$
2,375,269
Depreciation
-
24,750
-
24,750
Total
    Operating expenses
30,907
2,369,112
-
2,400,019
Other
    Income
-
2,873
-
2,873
Total
    Other income
-
2,873
-
2,873
Net
    loss before tax
$
(30,907)
$
(2,257,301)
$
-
$
(2,288,208)
Income
    tax expense
-
45,171
-
45,171
NET
    LOSS
$
(30,907)
$
(2,302,472)
$
-
$
(2,333,379)
Other
    Comprehensive Income (Loss)
Foreign
    currency translation adjustment
$
-
$
(262,190)
-
$
(262,190)
TOTAL
    COMPREHENSIVE INCOME (LOSS)
$
(30,907)
$
(2,564,662)
-
$
(2,595,569)
BASIC
    AND DILUTED NET LOSS PER COMMON SHARE
$
(0.00)
$
(59.26)
$
$
(0.00)
WEIGHTED
    AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC AND DILUTED
500,000,000
38,852
(38,852)
500,000,000
-F15-
Table of Contents
CHANGES
IN AND DISAGREEMENTS WITH ACCOUNTANTS ON
ACCOUNTING
AND FINANCIAL DISCLOSURE
None.
ITEM
9.01 FINANCIAL STATEMENTS AND EXHIBITS
Incorporated
herein by reference. Please refer to the above financial statements in their entirety beginning on page 17.
EXHIBITS
TO FORM 8-K
Exhibit
    Number
Description
    of Exhibit
3.1
Articles
    of Incorporation
(1)
3.11
Amendment
    to our Certificate of Incorporation
(2)
3.12
Amendment
    to our Certificate of Incorporation
(3)
3.2
Bylaws
(1)
10.1
Share
    Cancellation and Exchange Agreement
(4)
(1) Filed
as an exhibit to the Company's Form 10-12G, as filed with the SEC on May 8, 2020, and incorporated herein by this reference.
(2) Filed
as an exhibit to the Company's Form 8-K, as filed with the SEC on September 21, 2020, and incorporated herein by this reference.
(3) Filed
as an exhibit to the Company's Form 8-K, as filed with the SEC on January 29, 2021, and incorporated herein by this reference.
(4) Filed as an exhibit to the Company's Form 8-K, as filed with
the SEC on June 9, 2021, and incorporated herein by this reference.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
Next Meats
Holdings, Inc.
Dated:
December 16, 2021
By:
/s/ Ryo Shirai
Ryo Shirai,
Chief
Executive Officer
-18-