0001797956
2019-10-31
0001797956
2019-04-30
0001797956
2019-08-01
2019-10-31
0001797956
2018-08-01
2018-10-31
0001797956
2019-05-01
2019-10-31
0001797956
2018-05-01
2018-10-31
0001797956
2019-07-31
0001797956
2018-07-31
0001797956
2018-10-31
0001797956
2018-04-30
0001797956
us-gaap:CommonStockMember
2019-05-01
2019-10-31
0001797956
us-gaap:CommonStockMember
2019-04-30
0001797956
us-gaap:CommonStockMember
2019-10-31
0001797956
CPOW:SharesToBeIssuedMember
2019-05-01
2019-10-31
0001797956
CPOW:SharesToBeIssuedMember
2019-04-30
0001797956
CPOW:SharesToBeIssuedMember
2019-10-31
0001797956
us-gaap:AdditionalPaidInCapitalMember
2019-05-01
2019-10-31
0001797956
us-gaap:AdditionalPaidInCapitalMember
2019-04-30
0001797956
us-gaap:AdditionalPaidInCapitalMember
2019-10-31
0001797956
us-gaap:RetainedEarningsMember
2019-05-01
2019-10-31
0001797956
us-gaap:RetainedEarningsMember
2019-04-30
0001797956
us-gaap:RetainedEarningsMember
2019-10-31
0001797956
2018-05-01
2019-04-30
0001797956
srt:ChiefFinancialOfficerMember
2019-05-01
2019-10-31
0001797956
CPOW:KeyConsultantsMember
2019-05-01
2019-10-31
0001797956
CPOW:KeyConsultantMember
2019-05-01
2019-10-31
0001797956
CPOW:JanuaryTwentyTwentyuntilJuneThirtyTwentyTwentyMember
2019-05-01
2019-10-31
0001797956
CPOW:PettanicalsPetTreatsIncMember
2019-05-01
2019-10-31
0001797956
CPOW:PettanicalsPetTreatsIncMember
2019-09-30
0001797956
CPOW:PettanicalsPetTreatsIncMember
2019-09-01
2019-09-30
0001797956
2017-05-01
2018-04-30
0001797956
2017-04-30
0001797956
us-gaap:CommonStockMember
2018-05-01
2019-04-30
0001797956
us-gaap:CommonStockMember
2017-05-01
2018-04-30
0001797956
us-gaap:CommonStockMember
2018-04-30
0001797956
us-gaap:CommonStockMember
2017-04-30
0001797956
CPOW:SharesToBeIssuedMember
2018-05-01
2019-04-30
0001797956
CPOW:SharesToBeIssuedMember
2017-05-01
2018-04-30
0001797956
CPOW:SharesToBeIssuedMember
2018-04-30
0001797956
CPOW:SharesToBeIssuedMember
2017-04-30
0001797956
us-gaap:AdditionalPaidInCapitalMember
2018-05-01
2019-04-30
0001797956
us-gaap:AdditionalPaidInCapitalMember
2017-05-01
2018-04-30
0001797956
us-gaap:AdditionalPaidInCapitalMember
2018-04-30
0001797956
us-gaap:AdditionalPaidInCapitalMember
2017-04-30
0001797956
us-gaap:RetainedEarningsMember
2018-05-01
2019-04-30
0001797956
us-gaap:RetainedEarningsMember
2017-05-01
2018-04-30
0001797956
us-gaap:RetainedEarningsMember
2018-04-30
0001797956
us-gaap:RetainedEarningsMember
2017-04-30
0001797956
CPOW:ThirdPartyMember
2017-05-01
2018-04-30
0001797956
2019-03-01
2019-03-31
0001797956
2019-03-31
0001797956
CPOW:KeyConsultantsMember
2019-05-01
2019-05-31
0001797956
CPOW:KeyConsultantsMember
2019-05-31
0001797956
2019-09-01
2019-09-30
0001797956
us-gaap:PrivatePlacementMember
2019-09-01
2019-09-30
0001797956
us-gaap:PrivatePlacementMember
2019-09-30
0001797956
CPOW:PettanicalsPetTreatsIncMember
2019-09-29
2019-09-30
0001797956
CPOW:ShareCapitalMember
2018-05-01
2019-04-30
0001797956
CPOW:ShareCapitalMember
2017-05-01
2018-04-30
0001797956
CPOW:ShareCapitalMember
2018-04-30
0001797956
CPOW:ShareCapitalMember
2019-04-30
0001797956
CPOW:PettanicalsPetTreatsIncMember
2019-09-11
2019-09-12
0001797956
CPOW:ShareCapitalMember
2017-04-30
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
xbrli:pure
iso4217:CAD
Hemp Technology, Inc.
0001797956
10-12G/A
true
Non-accelerated Filer
true
false
27452
85981
129452
85981
0
27452
85981
52208
5275
46518
17442
98726
17442
5275
98726
17442
5275
221963
185466
185466
-7288218
-7076990
-6959253
30726
68539
-5275
185466
221963
191551
6768512
7096981
7076990
7288218
-3883
185466
185464
6768512
6768495
6959253
6957843
6953978
191551
6953960
129452
85981
0
191551
102000
102000
0.00001
0.00001
0.00001
50000000000
50000000000
50000000000
-106174
-2468
-211228
-2468
-117737
-1410
-106174
-2468
-211228
-2468
211228
-117737
-1410
117737
1410
-0.00
-0.00
-0.00
-0.00
-0.00
-0.00
22196289678
18546628778
22196289678
18546628778
18546628778
18546470126
106174
2468
211228
2468
117737
1410
16408
52208
-5275
1392
36803
2468
29076
2468
17442
-52963
-84944
-8070
-18
-26548
-58529
85981
27452
85981
54000
26415
26415
18
45000
45000
97500
97500
97500
97500
264150900
264150900
450000000
264150900
1020000000
26415
2642
23774
26415
<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 2 - Going concern</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">These consolidated financial statements are
prepared on a going concern basis. The Company does not currently have the financial resources to execute its business plan for
the upcoming year. If the Company does not raise capital it may become unable to meet its obligations in the normal course of business.</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’s ability to continue its
operations and to pay its obligations when they become due is contingent upon the Company obtaining additional financing. Management’s
plans include seeking to procure additional funds through debt and equity financings to continue working towards the production
and distribution of hemp-based CBD to generate operating cashflows.</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 has incurred a net loss of $117,737
for the year ended April 30, 2019, and an accumulated deficit of $7,076,990. The Company has not yet commenced producing or selling
innovative hemp-based, cannabidiol (CBD) products and accordingly does not have any revenue. This casts substantial doubt on the
Company’s ability to continue as a going concern unless it can begin to generate net profit and raise adequate financing.</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 8 - Commitments</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 April 30, 2019 and 2018 the Company
did not have any commitments.</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 $26,415 cash.</font></td></tr>
<tr style="vertical-align: top">
<td> </td>
<td><font style="font-size: 10pt">●</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">the Company issued 2,365,510,000 shares of common stock to settle shares to be issued obligations</font></td></tr>
<tr style="vertical-align: top">
<td> </td>
<td><font style="font-size: 10pt">●</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">the Company issued 1,020,000,000 shares of common stock held in escrow as a deposit to Pettanicals Pet Treats Inc. These shares will be released from escrow upon closing, refer to Note 7.</font></td></tr>
</table>
<p style="margin: 0pt"></p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Note 6 - Common stock and Shares to be issued</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company’s authorized share capital
consists of 50 billion of shares of common stock and 10 billion of preferred stock. There are no preferred shares issued, and the
following described the common shares issued:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.1pt"> </p>
<table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Common Shares</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Share Capital ($)</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 62%"><font style="font: 10pt Times New Roman, Times, Serif">Share Capital at April 30, 2017</font></td>
<td style="width: 2%"> </td>
<td style="width: 1%"> </td>
<td style="width: 16%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">18,546,446,678</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 15%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6,953,960</font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font: 10pt Times New Roman, Times, Serif">Shares issued (i)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">182,100</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">18</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font: 10pt Times New Roman, Times, Serif"><b>Share capital at April 30, 2018 and 2019</b></font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>18,546,628,778</b></font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>6,953,978</b></font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font: 10pt Times New Roman, Times, Serif">Shares to be issued - financing (ii)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">940,510,000</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">94,051</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font: 10pt Times New Roman, Times, Serif">Shares to be issued - services (iii)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">975,000,000</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">97,500</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font: 10pt Times New Roman, Times, Serif"><b>Total shares to be issued at April 30, 2019</b></font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>1,915,510,000</b></font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>191,551</b></font></td>
<td> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.1pt"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(i) During the year ended April 30, 2018 the
Company issued 182,100 shares of common stock valued at $18, in exchange for the settlement of the Company’s debts to third
parties.</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">(ii) In March 2019, the Company completed a
financing of 940,510,000 shares at $0.0001 per share. These shares were not issued at 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">(iii) In March 2019, 2019 the Company committed
to issue 975,000,000 shares of common stock to key consultants to secure their services in developing the business plan. These
shares were not issued at April 30, 2019.</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>Basis of consolidation</b> –
The consolidated financial statements include the accounts of Hemp Technology Inc. and its wholly-owned subsidiaries, as of April
30, 2019 and 2018. 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>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>Net income per share</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">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 years ended April 30, 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>Foreign Currency Translation</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 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. The assets
and liabilities of these subsidiaries are translated at the exchange rates at the balance sheet date. Income and expenses, and
cash flows are translated using average exchange rates. Exchange differences resulting from translating foreign operations are recognized in
other comprehensive loss and accumulated in equity.</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>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">Our financial instruments consist of cash,
accounts payable, accounts payable to related party. Financial assets and financial liabilities are recognized when the Company
becomes a party to the contractual provisions of the financial instrument and are measured initially at fair value adjusted for
transaction costs. As at the balance sheet dates the carrying value of our financial instruments approximated their fair value,
due to the short-term duration of these instruments.</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">Financial Accounting Standards Board (“FASB”) <i>ASC
Topic 820, Fair Value Measurements and Disclosures</i> (“ASC 820”), provides a comprehensive framework for measuring
fair value and expands disclosures which are required about fair value measurements. Specifically, ASC 820 sets forth a definition
of fair value and establishes a hierarchy prioritizing the inputs to valuation techniques, giving the highest priority to quoted
prices in active markets for identical assets and liabilities and the lowest priority to unobservable value inputs. ASC 820 defines
the hierarchy as follows:</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">Level 1 - Quoted prices are available in active
markets for identical assets or liabilities as of the reported date. The types of assets and liabilities included in Level 1 are
highly liquid and actively traded instruments with quoted prices.</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">Level 2 - Pricing inputs are other than quoted
prices in active markets, but are either directly or indirectly observable as of the reported date. The types of assets and liabilities
in Level 2 are typically either comparable to actively traded securities or contracts, or priced with models using highly observable
inputs.</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">Level 3 - Significant inputs to pricing that
are unobservable as of the reporting date. The types of assets and liabilities included in Level 3 are those with inputs requiring
significant management judgment or estimation, such as complex and subjective models and forecasts used to determine the fair
value of financial transmission rights.</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>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 method for
financial 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; text-indent: -0.1pt">  </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>Stock based 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">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>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Adoption of new accounting standards and
policies</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">From time to time, new accounting pronouncements
are issued that we adopt as of the specified effective date. We believe that the impact of recently issued standards that are not
yet effective may have an impact on our results of operations and financial position.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.1pt">  </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In February 2016, the FASB issued ASU No. 2016-02, <i>Leases</i>,
to improve financial reporting about leasing transactions. This ASU will require organizations that lease assets (“lessees”)
to recognize a lease liability and a right-of-use asset on its balance sheet for all leases with terms of more than twelve months.
A lease liability is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis and
a right-of-use asset represents the lessee’s right to use, or control use of, a specified asset for the lease term. The amendments
in this ASU simplify the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and
lease liabilities. This ASU leaves the accounting for the organizations that own the assets leased to the lessee (“lessor”)
largely unchanged except for targeted improvements to align it with the lessee accounting model and Topic 606, Revenue from Contracts
with Customers. ASU No. 2016-02 is effective for reporting periods beginning after December 15, 2018. The adoption of this standard
did not impact the Company’s financial statements, as we had no leases.</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 March 2016, the FASB issued authoritative
guidance regarding the accounting for share-based payment transactions, including income tax consequences, classification of awards
as either equity or liabilities, and classification on the statement of cash flows. The guidance is to be applied for annual periods
beginning after December 15, 2016 and interim periods within those annual periods, and early adoption is permitted. The guidance
requires companies to apply the requirements retrospectively, modified retrospectively, or prospectively depending on the amendment(s)
applied. The adoption of this standard did not impact the Company’s financial statements.</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 April 2016, the FASB issued ASU 2016 –
10 “Revenue from Contract with Customers: identifying Performance Obligations and Licensing”. The amendments in this
Update clarify the two following aspects (a) contracts with customers to transfer goods and services in exchange for consideration
and (b) determining whether an entity’s promise to grant a license provides a customer with either a right to use the entity’s
intellectual property (which is satisfied at a point in time) or a right to access the entity’s intellectual property (which
is satisfied over time). The amendments in this update are intended to reduce the degree of judgment necessary
to comply with Topic 606.</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 adoption of this standard did not impact
the Company’s financial statements as there were no contracts with customers.</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 August 2016, the FASB issued ASU 2016-15,
“Statement of Cash Flows (Topic 230) Classification of Certain Cash Receipts and Cash Payments”. The new guidance is
intended to reduce diversity in practice in how certain transactions are classified in the statement of cash flows. ASU 2016-15
is effective for the Company beginning in the first quarter of fiscal 2019. Early adoption is permitted, provided that all of the
amendments are adopted in the same period. The guidance requires application using a retrospective transition method. The adoption
of this standard did not impact the Company’s financial statements.</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 November 2016, the FASB issued ASU 2016-18,
“Statement of Cash Flows (Topic 230) Restricted Cash”. The new guidance requires that the reconciliation of the beginning-of-period
and end-of-period amounts shown in the statement of cash flows include restricted cash and restricted cash equivalents. If restricted
cash is presented separately from cash and cash equivalents on the balance sheet, companies will be required to reconcile the amounts
presented on the statement of cash flows to the amounts on the balance sheet. Companies will also need to disclose information
about the nature of the restrictions. The guidance is effective for fiscal years beginning after December 15, 2017, and interim
periods within those fiscal years. The adoption of this standard did not impact the Company’s financial statements as it
had no restricted cash.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.1pt">  </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In January 2017, FASB issued ASU 2017-01, “Business
Combinations (Topic 805) Clarifying the Definition of a Business”. The amendments in this Update is to clarify the definition
of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted
for as acquisitions (or disposals) of assets or businesses. The definition of a business affects many areas of accounting including
acquisitions, disposals, goodwill, and consolidation. The guidance is effective for annual periods beginning after December 15,
2017, including interim periods within those periods. The adoption of this standard did not impact the Company’s financial
statements as it had not made any acquisitions.</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">On May 10, 2017, the Financial Accounting Standards
Board (“FASB”) issued an Accounting Standards Update (“ASU”) 2017-09 “Compensation—Stock Compensation
(Topic 718): Scope of Modification Accounting”, which provides guidance to clarify when to account for a change to the terms
or conditions of a share-based payment award as a modification. Under the new guidance, modification accounting is required only
if the fair value, the vesting conditions, or the classification of the award (as equity or liability) changes as a result of the
change in terms or conditions. The guidance is effective prospectively for all companies for annual periods beginning on or after
December 15, 2017. Early adoption is permitted. The adoption of this standard did not impact the Company’s financial statements
as there was no share based payment awards.</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">On October 11, 2016 the Financial Accounting
Standards Board (“FASB”) issued an Accounting Standards Update (“ASU”) 2017-09 “Intra-Entity Transfers
of Assets Other Than Inventory”. The Board decided that an entity should recognize the income tax consequences of an intra-entity
transfer of an asset other than inventory when the transfer occurs. Consequently, the amendments in this Update eliminate the exception
for an intra-entity transfer of an asset other than inventory. For public business entities, the amendments in this Update are
effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within those annual
reporting periods. The adoption of this standard did not impact the Company’s financial statements as there were no assets
being transferred between entities.</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">On June 16, 2016, the Financial Accounting
Standards Board (“FASB”) issued an Accounting Standards Update (“ASU”) 2016-13 “Financial Instruments—Credit
Losses”. The amendments in this Update require a financial asset (or a group of financial assets) measured at amortized
cost basis to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account
that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected
to be collected on the financial asset. The income statement reflects the measurement of credit losses for newly recognized financial
assets, as well as the expected increases or decreases of expected credit losses that have taken place during the period. For
public business entities that are U.S. Securities and Exchange Commission (SEC) filers, the amendments in this Update are effective
for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The adoption of this
standard did not impact the Company’s financial statements as there were no credit sensitive financial instruments owned
by the Company.</p>
0.21
0.21
0.3033
Greater than 50 percent
Greater than 50 percent
10000000000
10000000000
18546628778
22196289678
18546628778
18546446678
45000
97500
1020000000
1020000000
1020000000
102000
10200
91800
23655
-236551
212986
2365510000
2365510000
<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 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 consolidated financial statements of the
Company have been prepared in accordance with accounting principles generally accepted in the United States of America or “US
GAAP”.</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 consolidated financial statements are presented
in United States dollars (unless otherwise noted), which is the functional currency of the Company. All financial information is
presented in United States dollars.</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 wholly-owned subsidiaries, as of April
30, 2019 and 2018. 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>Measurement basis</b> – The consolidated
financial statements have been prepared mainly on a historical cost basis. Other measurement bases used are described in the applicable
notes.</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"><b> </b></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. The assets
and liabilities of these subsidiaries are translated at the exchange rates at the balance sheet date. Income and expenses, and
cash flows are translated using average exchange rates. Exchange differences resulting from translating foreign operations are recognized in
other comprehensive loss and accumulated in equity.</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; text-indent: -0.1pt">  </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>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">Our financial instruments consist of cash,
accounts payable, accounts payable to related party. Financial assets and financial liabilities are recognized when the Company
becomes a party to the contractual provisions of the financial instrument and are measured initially at fair value adjusted for
transaction costs. As at the balance sheet dates the carrying value of our financial instruments approximated their fair value,
due to the short-term duration of these instruments.</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">Financial Accounting Standards Board (“FASB”) <i>ASC
Topic 820, Fair Value Measurements and Disclosures</i> (“ASC 820”), provides a comprehensive framework for measuring
fair value and expands disclosures which are required about fair value measurements. Specifically, ASC 820 sets forth a definition
of fair value and establishes a hierarchy prioritizing the inputs to valuation techniques, giving the highest priority to quoted
prices in active markets for identical assets and liabilities and the lowest priority to unobservable value inputs. ASC 820 defines
the hierarchy as follows:</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">Level 1 - Quoted prices are available in active
markets for identical assets or liabilities as of the reported date. The types of assets and liabilities included in Level 1 are
highly liquid and actively traded instruments with quoted prices.</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">Level 2 - Pricing inputs are other than quoted
prices in active markets, but are either directly or indirectly observable as of the reported date. The types of assets and liabilities
in Level 2 are typically either comparable to actively traded securities or contracts, or priced with models using highly observable
inputs.</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">Level 3 - Significant inputs to pricing that
are unobservable as of the reporting date. The types of assets and liabilities included in Level 3 are those with inputs requiring
significant management judgment or estimation, such as complex and subjective models and forecasts used to determine the fair value
of financial transmission rights.</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 method for
financial 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; text-indent: -0.1pt">  </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"><b> </b></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>Net income per share</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">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 years ended April 30, 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>Adoption of new accounting standards and
policies</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">From time to time, new accounting pronouncements
are issued that we adopt as of the specified effective date. We believe that the impact of recently issued standards that are not
yet effective may have an impact on our results of operations and financial position.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.1pt">  </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In February 2016, the FASB issued ASU No. 2016-02, <i>Leases</i>,
to improve financial reporting about leasing transactions. This ASU will require organizations that lease assets (“lessees”)
to recognize a lease liability and a right-of-use asset on its balance sheet for all leases with terms of more than twelve months.
A lease liability is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis and
a right-of-use asset represents the lessee’s right to use, or control use of, a specified asset for the lease term. The amendments
in this ASU simplify the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and
lease liabilities. This ASU leaves the accounting for the organizations that own the assets leased to the lessee (“lessor”)
largely unchanged except for targeted improvements to align it with the lessee accounting model and Topic 606, Revenue from Contracts
with Customers. ASU No. 2016-02 is effective for reporting periods beginning after December 15, 2018. The adoption of this standard
did not impact the Company’s financial statements, as we had no leases.</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 March 2016, the FASB issued authoritative
guidance regarding the accounting for share-based payment transactions, including income tax consequences, classification of awards
as either equity or liabilities, and classification on the statement of cash flows. The guidance is to be applied for annual periods
beginning after December 15, 2016 and interim periods within those annual periods, and early adoption is permitted. The guidance
requires companies to apply the requirements retrospectively, modified retrospectively, or prospectively depending on the amendment(s)
applied. The adoption of this standard did not impact the Company’s financial statements.</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 April 2016, the FASB issued ASU 2016 –
10 “Revenue from Contract with Customers: identifying Performance Obligations and Licensing”. The amendments in this
Update clarify the two following aspects (a) contracts with customers to transfer goods and services in exchange for consideration
and (b) determining whether an entity’s promise to grant a license provides a customer with either a right to use the entity’s
intellectual property (which is satisfied at a point in time) or a right to access the entity’s intellectual property (which
is satisfied over time). The amendments in this update are intended to reduce the degree of judgment necessary
to comply with Topic 606.</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 adoption of this standard did not impact
the Company’s financial statements as there were no contracts with customers.</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 August 2016, the FASB issued ASU 2016-15,
“Statement of Cash Flows (Topic 230) Classification of Certain Cash Receipts and Cash Payments”. The new guidance is
intended to reduce diversity in practice in how certain transactions are classified in the statement of cash flows. ASU 2016-15
is effective for the Company beginning in the first quarter of fiscal 2019. Early adoption is permitted, provided that all of the
amendments are adopted in the same period. The guidance requires application using a retrospective transition method. The adoption
of this standard did not impact the Company’s financial statements.</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 November 2016, the FASB issued ASU 2016-18,
“Statement of Cash Flows (Topic 230) Restricted Cash”. The new guidance requires that the reconciliation of the beginning-of-period
and end-of-period amounts shown in the statement of cash flows include restricted cash and restricted cash equivalents. If restricted
cash is presented separately from cash and cash equivalents on the balance sheet, companies will be required to reconcile the amounts
presented on the statement of cash flows to the amounts on the balance sheet. Companies will also need to disclose information
about the nature of the restrictions. The guidance is effective for fiscal years beginning after December 15, 2017, and interim
periods within those fiscal years. The adoption of this standard did not impact the Company’s financial statements as it
had no restricted cash.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.1pt">  </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In January 2017, FASB issued ASU 2017-01, “Business
Combinations (Topic 805) Clarifying the Definition of a Business”. The amendments in this Update is to clarify the definition
of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted
for as acquisitions (or disposals) of assets or businesses. The definition of a business affects many areas of accounting including
acquisitions, disposals, goodwill, and consolidation. The guidance is effective for annual periods beginning after December 15,
2017, including interim periods within those periods. The adoption of this standard did not impact the Company’s financial
statements as it had not made any acquisitions.</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">On May 10, 2017, the Financial Accounting Standards
Board (“FASB”) issued an Accounting Standards Update (“ASU”) 2017-09 “Compensation—Stock Compensation
(Topic 718): Scope of Modification Accounting”, which provides guidance to clarify when to account for a change to the terms
or conditions of a share-based payment award as a modification. Under the new guidance, modification accounting is required only
if the fair value, the vesting conditions, or the classification of the award (as equity or liability) changes as a result of the
change in terms or conditions. The guidance is effective prospectively for all companies for annual periods beginning on or after
December 15, 2017. Early adoption is permitted. The adoption of this standard did not impact the Company’s financial statements
as there was no share based payment awards.</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">On October 11, 2016 the Financial Accounting
Standards Board (“FASB”) issued an Accounting Standards Update (“ASU”) 2017-09 “Intra-Entity Transfers
of Assets Other Than Inventory”. The Board decided that an entity should recognize the income tax consequences of an intra-entity
transfer of an asset other than inventory when the transfer occurs. Consequently, the amendments in this Update eliminate the exception
for an intra-entity transfer of an asset other than inventory. For public business entities, the amendments in this Update are
effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within those annual
reporting periods. The adoption of this standard did not impact the Company’s financial statements as there were no assets
being transferred between entities.</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">On June 16, 2016, the Financial Accounting
Standards Board (“FASB”) issued an Accounting Standards Update (“ASU”) 2016-13 “Financial Instruments—Credit
Losses”. The amendments in this Update require a financial asset (or a group of financial assets) measured at amortized
cost basis to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account
that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected
to be collected on the financial asset. The income statement reflects the measurement of credit losses for newly recognized financial
assets, as well as the expected increases or decreases of expected credit losses that have taken place during the period. For
public business entities that are U.S. Securities and Exchange Commission (SEC) filers, the amendments in this Update are effective
for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The adoption of this
standard did not impact the Company’s financial statements as there were no credit sensitive financial instruments owned
by the Company.</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>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Note 5 - Due to related party</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">At April 30, 2019, the Company had non-interest
bearing, unsecured, payables with no specified terms of repayment, due to an entity controlled by two Officers of the Company.</p>
The Tax Act reduced the U.S. federal corporate tax rate from 35% to 21%.
The Tax Act reduced the U.S. federal corporate tax rate from 35% to 21%.
450000000
975000000
975000000
975000000
41053
2400
1200
2019-12-31
153000
153000
Amendment No. 1
22196289678
18546628778
18546628778
18546628778
18546628778
94051
18
182100
18
18
2
16
182100
18
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Note 4 - Cash</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 holds cash in bank accounts in
Canada and the USA. Substantially all of these funds are held in US Dollars. The Company does not have any restricted cash or
cash equivalents at April 30, 2019 or 2018.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Note 7 - Related Party Transactions 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">The Company borrowed from a related party as
described in note 5 and entered into a share subscription agreement for shares to our President and member of his family as described
in note 6(ii).</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 years ended April 30, 2019 and
2018 management was not compensated.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Note 9 - 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 has net operating loss carryovers
of approximately $119,147 for federal and state income tax purposes, which continue indefinitely. The ultimate realization of the
net operating loss is dependent upon future taxable income, if any, of the Company. Based on losses from inception, the Company
determined that as of April 30, 2019 it is more likely than not that the Company will not realize benefits from the deferred tax
assets. The Company will not record income tax benefits in the financial statements until it is determined that it is more likely
than not that the Company will generate sufficient taxable income to realize the deferred income tax assets. As a result of the
analysis, the Company determined that a valuation allowance against the deferred tax assets was required.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.1pt">  </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Reconciliation of the statutory rate of 21%
(2018 – 30.33%) and income tax benefits at those rates to the effective income tax rates and income tax benefits reported
in the statement of operations and comprehensive loss is as follows:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.1pt"> </p>
<table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="6" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">As of April 30,</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">2019</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">2018</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="2"> </td>
<td> </td>
<td> </td>
<td colspan="2"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 63%"><font style="font: 10pt Times New Roman, Times, Serif">Net Income (Loss) before recovery of income taxes</font></td>
<td style="width: 2%"> </td>
<td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="width: 15%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(117,737</font></td>
<td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="width: 15%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1,410</font></td>
<td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font: 10pt Times New Roman, Times, Serif">Expected income tax (recovery) expense</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(24,725</font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(428</font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font: 10pt Times New Roman, Times, Serif">Other</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(296</font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font: 10pt Times New Roman, Times, Serif">Change in valuation allowance</font></td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">25,021</font></td>
<td> </td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">428</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font: 10pt Times New Roman, Times, Serif">Income tax expense</font></td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td> </td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The change in the Company’s valuation
allowance is as follows:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="7" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">For the Years Ended April 30,</font></td></tr>
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">2019</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">2018</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="2"> </td>
<td> </td>
<td> </td>
<td colspan="2"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 63%"><font style="font: 10pt Times New Roman, Times, Serif">Net operating loss carry forward</font></td>
<td style="width: 2%"> </td>
<td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="width: 15%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">119,147</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="width: 15%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,410</font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font: 10pt Times New Roman, Times, Serif">Valuation Allowance</font></td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(119,147</font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1,410</font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font: 10pt Times New Roman, Times, Serif">Total</font></td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td> </td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.1pt"></p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Note 10 - Financial instruments</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"><b>Fair Values - </b>The Company’s
financial instruments consist of cash, accounts payable and accrued liabilities, share subscriptions, and shares to be issued.
The fair values of these financial instruments approximate their carrying values due to the short-term maturity of these instruments.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.1pt">  </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Foreign Currency Risk - </b>Foreign
currency risk is the risk that changes in the rates of exchange on foreign currencies will impact the financial position or cash
flows of the Company. The Company’s functional currency is the U.S. Dollar, thus the Company is exposed to foreign currency
risks in relation to certain payables that are to be settled in Canadian funds. Management monitors its foreign currency exposure
regularly to minimize the risk of an adverse impact on its cash flows.</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>Concentration of Credit Risk - </b>Concentration
of credit risk is the risk of loss in the event that certain counterparties are unable to fulfill its obligations to the Company.
The Company limits its exposure to credit loss on its cash by placing its cash with high credit quality financial institutions
and by conducting due diligence on its counterparties.</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>Liquidity Risk - </b>Liquidity risk
is the risk that the Company’s cash flows from operations will not be sufficient for the Company to continue operating and
discharge is liabilities. The Company is exposed to liquidity risk as its continued operation is dependent upon its ability to
obtain financing, either in the form of debt or equity, or achieving profitable operations in order to satisfy its liabilities
as they come due.</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>Market Risk - </b>Market risk is the
risk that fluctuations in the market prices of hemp and CBD products will impact the Company’s future cash flows. The Company
is exposed to market risk in the number of financing opportunities that will be available and through the evolving status of regulation
for Hemp cultivation, processing, and products. Once operating the Company will be exposed to market risk for the cost of hemp
biomass, and for the value of the Hemp-CBD products it plans to produce.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Note 11 - Subsequent events</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 May 2019, the Company committed to issue
450,000,000 shares to key consultants at $0.0001 per share. These shares were issued in September 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">In September 2019, the Company issued 940,510,000
shares to satisfy the $94,051 share subscriptions described in notes 6(ii).</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.1pt"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In September 2019, the Company issued 975,000,000
shares to satisfy the $97,500 shares to be issued described in note 6(iii).</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 issued 264,150,900
shares at $0.0001 per share in a private placement.</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 $153,000 upon
closing. The Company issued 1,020,000,000 shares on September 12, 2019 as the deposit under this agreement. The closing date for
this acquisition has not been set. Pettanicals is owned by a key member of management and his spouse.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Measurement basis</b> – The
consolidated financial statements have been prepared mainly on a historical cost basis. Other measurement bases used are described
in the applicable notes.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.1pt"> </p>
<table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Common Shares</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Share Capital ($)</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 62%"><font style="font: 10pt Times New Roman, Times, Serif">Share Capital at April 30, 2017</font></td>
<td style="width: 2%"> </td>
<td style="width: 1%"> </td>
<td style="width: 16%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">18,546,446,678</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 15%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6,953,960</font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font: 10pt Times New Roman, Times, Serif">Shares issued (i)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">182,100</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">18</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font: 10pt Times New Roman, Times, Serif"><b>Share capital at April 30, 2018 and 2019</b></font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>18,546,628,778</b></font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>6,953,978</b></font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font: 10pt Times New Roman, Times, Serif">Shares to be issued - financing (ii)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">940,510,000</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">94,051</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font: 10pt Times New Roman, Times, Serif">Shares to be issued - services (iii)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">975,000,000</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">97,500</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font: 10pt Times New Roman, Times, Serif"><b>Total shares to be issued at April 30, 2019</b></font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>1,915,510,000</b></font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>191,551</b></font></td>
<td> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.1pt"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(i) During the year ended April 30, 2018 the
Company issued 182,100 shares of common stock valued at $18, in exchange for the settlement of the Company’s debts to third
parties.</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">(ii) In March 2019, the Company completed a
financing of 940,510,000 shares at $0.0001 per share. These shares were not issued at 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">(iii) In March 2019, 2019 the Company committed
to issue 975,000,000 shares of common stock to key consultants to secure their services in developing the business plan. These
shares were not issued at April 30, 2019.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Reconciliation of the statutory rate of 21%
(2018 – 30.33%) and income tax benefits at those rates to the effective income tax rates and income tax benefits reported
in the statement of operations and comprehensive loss is as follows:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.1pt"> </p>
<table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="6" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">As of April 30,</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">2019</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">2018</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="2"> </td>
<td> </td>
<td> </td>
<td colspan="2"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 63%"><font style="font: 10pt Times New Roman, Times, Serif">Net Income (Loss) before recovery of income taxes</font></td>
<td style="width: 2%"> </td>
<td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="width: 15%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(117,737</font></td>
<td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="width: 15%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1,410</font></td>
<td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font: 10pt Times New Roman, Times, Serif">Expected income tax (recovery) expense</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(24,725</font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(428</font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font: 10pt Times New Roman, Times, Serif">Other</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(296</font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font: 10pt Times New Roman, Times, Serif">Change in valuation allowance</font></td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">25,021</font></td>
<td> </td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">428</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font: 10pt Times New Roman, Times, Serif">Income tax expense</font></td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td> </td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The change in the Company’s valuation
allowance is as follows:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="7" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">For the Years Ended April 30,</font></td></tr>
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">2019</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">2018</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="2"> </td>
<td> </td>
<td> </td>
<td colspan="2"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 63%"><font style="font: 10pt Times New Roman, Times, Serif">Net operating loss carry forward</font></td>
<td style="width: 2%"> </td>
<td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="width: 15%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">119,147</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="width: 15%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,410</font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font: 10pt Times New Roman, Times, Serif">Valuation Allowance</font></td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(119,147</font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif">)</font></td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1,410</font></td>
<td><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font: 10pt Times New Roman, Times, Serif">Total</font></td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td> </td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
<td> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.1pt"></p>
94051
94051
940510000
940510000
0.001
-24725
-428
25021
428
119147
1410
0.0001
0.0001
94051
119147
1410
296
7096981
6768512
6768512
94051
940510000
94051
<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; word-spacing: 0px; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; word-spacing: 0px; 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 cannabis 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 1 - Company overview</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">Hemp Technology Inc. of Wyoming and its subsidiaries,
Hemp Technology Inc. of Kentucky and Hemp Biotech Inc. of Kentucky. (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 cannabis or products derived from high-THC Cannabis/marijuana
plants.</p>