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<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Note 2 - Going concern</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">These condensed consolidated financial statements
are prepared on a going concern basis. The Company has incurred continuing losses from its operations and as of October 31, 2019,
the Company had an accumulated deficit of $7,288,218 resulting primarily from its previous biofuels business. The Company had
a loss of $117,737 during its most recent year ended April 30, 2019 and a loss of $211,229 in the six months ended October 31,
2019. The Company does not currently have the financial resources to execute its business plan for the current year and to achieve
sufficient revenues to cover expenses. If the Company does not raise capital it will become unable to meet its obligations in
the normal course of business. These conditions raise substantial doubt about the Company’s ability to continue as a going
concern. The accompanying condensed consolidated financial statements do not include any adjustments that might result from the
outcome of these uncertainties.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Note 6 - Commitments</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">The Company had committed to office rental
agreements with payments of $2,400 CAD per month expiring December 31, 2019 and $1,200 CAD per month from January 2020 until June
30, 2020.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Note 5 - Common stock and Shares to be issued</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company’s authorized share capital
consists of 50 billion of shares of common stock and 10 billion of preferred stock. There are no preferred shares issued, and 22,196,289,678
common shares issued at October 31, 2019.</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">During the six months ended October 31, 2019:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"> </p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 24px"> </td>
<td style="width: 24px"><font style="font-size: 10pt">●</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">the Company issued 450,000,000 shares of common stock to key consultants to secure their services in developing the business plan.</font></td></tr>
<tr style="vertical-align: top">
<td> </td>
<td><font style="font-size: 10pt">●</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">the Company issued 264,150,900 shares of common stock to a key consultant for $26,415 cash.</font></td></tr>
<tr style="vertical-align: top">
<td> </td>
<td><font style="font-size: 10pt">●</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">the Company issued 2,365,510,000 shares of common stock to settle shares to be issued obligations</font></td></tr>
<tr style="vertical-align: top">
<td> </td>
<td><font style="font-size: 10pt">●</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">the Company issued 1,020,000,000 shares of common stock held in escrow as a deposit to Pettanicals Pet Treats Inc. These shares will be released from escrow upon closing, refer to Note 7.</font></td></tr>
</table>
<p style="margin: 0pt"></p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Note 7 - Pettanicals Deposit</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">In September 2019 the Company entered into
an agreement to buy Pettanicals Pet Treats Inc. Pettanicals is a Canadian-based company in the nutritional pet supplement business.
We plan to use Pettanicals to introduce CBD infused high performance nutritional pet health supplements to international markets.
The agreement calls for the Company to issue $102,000 of restricted common shares as a deposit, and to pay cash of $153,000 upon
closing. The Company issued 1,020,000,000 shares on September 12, 2019 as the deposit under this agreement. The closing date for
this acquisition has not been set. Pettanicals is owned by a key member of management and his spouse.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Basis of consolidation</b> – The
consolidated financial statements include the accounts of Hemp Technology Inc. and its subsidiaries, as of October 31, 2019 and
2018. The Company has three wholly-owned subsidiaries: Hemp Technology Inc. of Kentucky, Hemp Biotech Inc. of Kentucky, and Sol
Terra SAS of Colombia. Inter-company balances and transactions are eliminated in preparing the consolidated financial statements.
The accounting policies of the subsidiaries are consistent with Hemp Technology Inc.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Use of estimates</b> - The preparation
of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect
the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial
statements and the reported amounts of expenses. We believe that the accounting estimates employed are appropriate and that the
resulting balances are reasonable; however, due to the inherent uncertainty in making estimates, actual results could differ from
the original estimates, resulting in changes to these balances in future periods.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Net Loss per share</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">We calculate net loss per share in accordance
with ASC Topic 260, <i>Earnings per Share</i>. Basic net loss per share is computed by dividing net loss by the weighted average
number of shares of common stock outstanding for the period, and diluted earnings per share is computed by including common stock
equivalents outstanding for the period in the denominator. For the three and six month periods ended October 31, 2019 and 2018,
any equivalents would have been anti-dilutive as we had a loss for the period then ended.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Foreign Currency Translation</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">The reporting currency of the Company, including
its subsidiaries, is the United States dollar. The financial statements of subsidiaries located outside of the U.S. are measured
in their functional currency, which is the local currency. The functional currency of the parent is the U.S. dollar. Monetary
assets and liabilities of these subsidiaries are translated at the exchange rates at the balance sheet date. Income and expense
items are translated using average monthly exchange rates. Non-monetary assets are translated at their historical exchange rates.
Translation adjustments are included in accumulated other comprehensive loss in the condensed consolidated balance sheets.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Fair Values of Financial Instruments</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">The carrying amounts of cash, accounts payable,
and accrued liabilities approximate their fair value due to the short-term nature of these instruments. The Company’s operations
and financing activities are conducted primarily in United States dollars and as a result, the Company is not subject to significant
exposure to market risks from changes in foreign currency rates. The Company is exposed to credit risk through its cash, but mitigates
this risk by keeping these deposits at major financial institutions.</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">ASC 820 “Fair Value Measurements and
Disclosures” provides the framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes
the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices
in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level
3 measurements).</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">Fair value is defined as an exit price, representing
the amount that would be received upon the sale of an asset or payment to transfer a liability in an orderly transaction between
market participants. Fair value is a market-based measurement that is determined based on assumptions that market participants
would use in pricing an asset or liability.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Income taxes</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company utilizes the liability approach
for accounting and reporting for income taxes. The provision for income taxes is based upon income or loss after adjustment for
those permanent items that are not considered in the determination of taxable income. Deferred income taxes represent the tax effects
of differences between the financial reporting and tax basis of the Company’s assets and liabilities at the enacted tax rates
in effect for the years in which the differences are expected to reverse.</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">The Company evaluates the recoverability of
deferred tax assets and establishes a valuation allowance when it is more likely than not that some portion or all the deferred
tax assets will not be realized. Management makes judgments as to the interpretation of the tax laws that might be challenged upon
an audit and cause changes to previous estimates of tax liability. In management’s opinion, adequate provisions for income
taxes have been made. If actual taxable income by tax jurisdiction varies from estimates, additional allowances or reversals of
reserves may be necessary.</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">Tax benefits are recognized only for tax positions
that are more likely than not to be sustained upon examination by tax authorities. The amount recognized is measured as the largest
amount of benefit that is greater than 50 percent likely to be realized upon settlement. A liability for “unrecognized tax
benefits” is recorded for any tax benefits claimed in the Company’s tax returns that do not meet these recognition
and measurement standards. The Company’s policy for recording interest and penalties associated with tax audits is to record
such items as a component of general and administrative expense. The Company has identified its federal tax return and its state
tax return in Kentucky as its “major” tax jurisdictions, and all prior year returns remain subject to examination.
The Tax Cuts and Jobs Act (the “Tax Act”) was enacted on December 22, 2017. The Tax Act reduced the U.S. federal corporate
tax rate from 35% to 21%. As December 31, 2017, the Company had made a reasonable estimate of the effects of the Tax Act. This
estimate incorporates assumptions made based upon the Company’s current interpretation of the Tax Act and may change as
the Company may receive additional clarification and implementation guidance and as the interpretation of the Tax Act evolves.
In accordance with SEC Staff Accounting Bulletin No. 118, the Company has finalized the accounting for the effects of the Tax
Act during 2019. Future adjustments made to the provisional effects will be reported as a component of income tax expense in the
reporting period in which any such adjustments are determined.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Stock based compensation</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">The Company follows ASC 718, Compensation
- Stock Compensation, which addresses the accounting for stock-based payment transactions, requiring such transactions to be accounted
for using the fair value method. Awards of shares for property or services are recorded at the more readily measurable of the
fair value of the stock and the fair value of the service. The Company uses the Black-Scholes option-pricing model to determine
the grant date fair value of stock- based awards under ASC 718. The fair value is charged to earnings depending on the terms and
conditions of the award, and the nature of the relationship of the recipient of the award to the Company. The Company records
the grant date fair value in line with the period over which it was earned. For employees and management, this is typically considered
to be the vesting period of the award. For consultants the fair value of the award is recorded over the term of the service period,
and unvested amounts are revalued at each reporting period over the service period. The Company estimates the expected forfeitures
and updates the valuation accordingly.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Recent Accounting Pronouncements</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">Management does not believe that any recently
issued, but not yet effective accounting pronouncements, when adopted, will have a material effect on the accompanying condensed
consolidated financial statements.</p>
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<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Note 1 - Company overview</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Hemp Technology Inc. of Wyoming and its subsidiaries,
Hemp Technology Inc. of Kentucky, Hemp Biotech Inc. of Kentucky, and Sol Terra SAS of Colombia (collectively the “Company”)
is publicly listed on the OTC under the symbol “CPOW.” The Company’s registered office is located in Cheyenne,
Wyoming and its principal executive office is located in Calgary, Alberta. The Company is a start-up in the production and distribution
of innovative hemp-based, cannabidiol (CBD) products. The Company’s planned primary products will be created from high quality
strains of hemp. Hemp extracts are produced from industrial hemp, which is defined as Cannabis with less than 0.3% tetrahydrocannabinol
(THC). THC causes psychoactive effects when consumed and is typically associated with marijuana (i.e. cannabis with high-THC content).
The Company does not produce or sell medicinal or recreational marijuana or products derived from high-THC Cannabis/marijuana
plants.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Note 3 - Basis of preparation</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">The accompanying condensed consolidated financial
statements have been prepared in accordance with generally accepted accounting principles for interim financial information and
with the instructions to Form 10–Q and Rule 10 of Regulation S–X. Accordingly, they do not include all of the information
and notes required by accounting principles generally accepted in the United States of America. However, in the opinion of the
management of the Company, all adjustments necessary for a fair presentation of the financial position and operating results have
been included in these statements. These condensed consolidated financial statements should be read in conjunction with the consolidated
financial statements and notes thereto included in the Company’s Annual Report on Form 10 for the fiscal year ended April
30, 2019.</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"><b>Basis of consolidation</b> – The consolidated
financial statements include the accounts of Hemp Technology Inc. and its subsidiaries, as of October 31, 2019 and 2018. The Company
has three wholly-owned subsidiaries: Hemp Technology Inc. of Kentucky, Hemp Biotech Inc. of Kentucky, and Sol Terra SAS of Colombia.
Inter-company balances and transactions are eliminated in preparing the consolidated financial statements. The accounting policies
of the subsidiaries are consistent with Hemp Technology Inc.</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"><b>Use of estimates</b> - The preparation of
consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect
the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial
statements and the reported amounts of expenses. We believe that the accounting estimates employed are appropriate and that the
resulting balances are reasonable; however, due to the inherent uncertainty in making estimates, actual results could differ from
the original estimates, resulting in changes to these balances in future periods.</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"><b>Net Loss per share</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">We calculate net loss per share in accordance
with ASC Topic 260, <i>Earnings per Share</i>. Basic net loss per share is computed by dividing net loss by the weighted average
number of shares of common stock outstanding for the period, and diluted earnings per share is computed by including common stock
equivalents outstanding for the period in the denominator. For the three and six month periods ended October 31, 2019 and 2018,
any equivalents would have been anti-dilutive as we had a loss for the period then ended.</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"><b>Foreign Currency Translation</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">The reporting currency of the Company, including
its subsidiaries, is the United States dollar. The financial statements of subsidiaries located outside of the U.S. are measured
in their functional currency, which is the local currency. The functional currency of the parent is the U.S. dollar. Monetary assets
and liabilities of these subsidiaries are translated at the exchange rates at the balance sheet date. Income and expense items
are translated using average monthly exchange rates. Non-monetary assets are translated at their historical exchange rates. Translation
adjustments are included in accumulated other comprehensive loss in the condensed consolidated balance sheets.</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"><b>Fair Values of Financial Instruments</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">The carrying amounts of cash, accounts payable,
and accrued liabilities approximate their fair value due to the short-term nature of these instruments. The Company’s operations
and financing activities are conducted primarily in United States dollars and as a result, the Company is not subject to significant
exposure to market risks from changes in foreign currency rates. The Company is exposed to credit risk through its cash, but mitigates
this risk by keeping these deposits at major financial institutions.</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">ASC 820 “Fair Value Measurements and
Disclosures” provides the framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes
the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices
in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level
3 measurements).</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">Fair value is defined as an exit price, representing
the amount that would be received upon the sale of an asset or payment to transfer a liability in an orderly transaction between
market participants. Fair value is a market-based measurement that is determined based on assumptions that market participants
would use in pricing an asset or liability.</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"><b>Income taxes</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company utilizes the liability approach
for accounting and reporting for income taxes. The provision for income taxes is based upon income or loss after adjustment for
those permanent items that are not considered in the determination of taxable income. Deferred income taxes represent the tax effects
of differences between the financial reporting and tax basis of the Company’s assets and liabilities at the enacted tax rates
in effect for the years in which the differences are expected to reverse.</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">The Company evaluates the recoverability of
deferred tax assets and establishes a valuation allowance when it is more likely than not that some portion or all the deferred
tax assets will not be realized. Management makes judgments as to the interpretation of the tax laws that might be challenged upon
an audit and cause changes to previous estimates of tax liability. In management’s opinion, adequate provisions for income
taxes have been made. If actual taxable income by tax jurisdiction varies from estimates, additional allowances or reversals of
reserves may be necessary.</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">Tax benefits are recognized only for tax positions
that are more likely than not to be sustained upon examination by tax authorities. The amount recognized is measured as the largest
amount of benefit that is greater than 50 percent likely to be realized upon settlement. A liability for “unrecognized tax
benefits” is recorded for any tax benefits claimed in the Company’s tax returns that do not meet these recognition
and measurement standards. The Company’s policy for recording interest and penalties associated with tax audits is to record
such items as a component of general and administrative expense. The Company has identified its federal tax return and its state
tax return in Kentucky as its “major” tax jurisdictions, and all prior year returns remain subject to examination.
The Tax Cuts and Jobs Act (the “Tax Act”) was enacted on December 22, 2017. The Tax Act reduced the U.S. federal corporate
tax rate from 35% to 21%. As December 31, 2017, the Company had made a reasonable estimate of the effects of the Tax Act. This
estimate incorporates assumptions made based upon the Company’s current interpretation of the Tax Act and may change as the
Company may receive additional clarification and implementation guidance and as the interpretation of the Tax Act evolves. In accordance
with SEC Staff Accounting Bulletin No. 118, the Company has finalized the accounting for the effects of the Tax Act during 2019.
Future adjustments made to the provisional effects will be reported as a component of income tax expense in the reporting period
in which any such adjustments are determined.</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"><b>Stock based compensation</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">The Company follows ASC 718, Compensation -
Stock Compensation, which addresses the accounting for stock-based payment transactions, requiring such transactions to be accounted
for using the fair value method. Awards of shares for property or services are recorded at the more readily measurable of the fair
value of the stock and the fair value of the service. The Company uses the Black-Scholes option-pricing model to determine the
grant date fair value of stock- based awards under ASC 718. The fair value is charged to earnings depending on the terms and conditions
of the award, and the nature of the relationship of the recipient of the award to the Company. The Company records the grant date
fair value in line with the period over which it was earned. For employees and management, this is typically considered to be the
vesting period of the award. For consultants the fair value of the award is recorded over the term of the service period, and unvested
amounts are revalued at each reporting period over the service period. The Company estimates the expected forfeitures and updates
the valuation accordingly.</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"><b>Recent Accounting Pronouncements</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">Management does not believe that any recently
issued, but not yet effective accounting pronouncements, when adopted, will have a material effect on the accompanying condensed
consolidated financial statements.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Note 4 - Due to related parties and management
compensation</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As at October 31, 2019, the Company had $46,518
non-interest bearing, unsecured, receivables with no specified terms of repayment, due to an entity controlled by two Officers
of the Company.</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">During the six months ended October 31, 2019
we paid and accrued $41,053 for contract CFO fees.</p>
The Tax Act reduced the U.S. federal corporate tax rate from 35% to 21%.
450000000
41053
2400
1200
2019-12-31
153000