American Premium Water : Financial

AMERICAN PREMIUM WATER CORPORATION

CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2021 and December 31, 2020

Pages

Balance Sheets as of December 31, 2021 and December 31, 2020 (Unaudited) F-1

Consolidated Income Statements for the Year ended December 31, 2021 and 2020 (Unaudited) F-2

Consolidated Statements of Changes in Stockholders' deficit for the Years ended F-3 December 31, 2021 and 2020 (Unaudited)

CONSOLIDATED BALANCE SHEET

(Unaudited)

ASSETS

Current Assets

Cash

Accounts Receivable Note Receivable Inventory

Other Current Assets

Total Current Assets

Other Assets

Property and equipment net of accumulated depreciation

Intangible assets, net of amortization

Total Other Assets

$

Total Assets

$

LIABILITIES AND STOCKHOLDERS' EQUITY/(DEFICIENCY)

Current Liabilities

Accounts Payable Accrued Expenses Accrued interest payable Deferred Compensation

Stock and Note repurchase agreements Stock due investors

Other liabilities to third parties Bridge financing

Convertible Notes to third parties Derivative liabilities on convertible notes Common stock issuable

Total Current Liabilities

For the Year Ended December 31, 2021

For the Year Ended December 30, 2020

4,257$ 31,9

1,615 50,2

299,798344,7

27,272 9,9

11,2146,3

344,156443,3

3,899 12,6

6336

4,532 13,3

348,688$ 456,6

117,997124,4

444,383402,5

257,849257,8

44,73444,7

60,00060,0

512,679566,2

2,1782,1

1,128,4 175,0

4,049,594 3,872,8

Total Liabilities

Stockholders' Equity (/Deficiency)

Preferred A Stock, $0.001 par value; 25,000,000 shares authorized, 23,103,900 issued and outstanding at

4,049,594 3,872,8

• December 31, 2021 and 23,578,000 at December 31, 2020 23,10323,5

  Common stock, $0.0001 par value; 1,000,000,000 shares authorized, 2,024,405,923 issued and outstanding, at

• December 31, 2021 and 1,364,663,998 at December 31, 2020 202,174136,2

Additional paid-in capital

Accumulated deficit

Total Stockholders' Equity /(Deficiency)

Total Liabilities and Stockholders' Equity/( Deficiency)

$

See accompanying notes to condensed consolidated financial statement

F-1

109,385,408 (113,311,591) (3,700,906)

108,862,0(112,438,04

348,688$

(3,416,24

456,6

CONSOLIDATED STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2021 AND DECEMBER 31, 2020

(Unaudited)

Income

Sales

Cost of Goods Sold

Gross Profit Operating Expenses

General and administrative Professional Fees

Stock Based Compensation Shareholder Expense

Total Operating Expenses

$

For the Year Ended December 31, 2021

53,095$ 305,002

2,215218,28

50,88086,71

160,34892,00

326,138218,68

347,500 422,00

67112,57

834,657

Loss from Operations

(783,777)

Other Income/ (Expense)

Derivative Liability

Gain on change in derivative value Other income

Interest expense

Total Other Income(Expense)

-

LOSS FROM OPERATIONS BEFORE INCOME TAXES

For the Year Ended December 31, 2020

745,27

(658,555

Provision for Income Taxes

-

NET LOSS

$

(873,550)$

Net Loss Per Share - Basic andDiluted

$

(0.00)$

(861,031

(0.00

Weighted average number of shares outstanding during the year - Basic and Diluted

2,024,405,923

1,081,473,65

See accompanying notes to condensed consolidated financial statement

F-2

AMERICAN PREMIUM WATER CORPORATION

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT)

AS OF MAY 31, 2021 and MAY 31, 2020

Series A Preferred

Common StockShares

Amounts($)

Shares

Amount ($)Additional Paid-In Capital ($)AccumulatedDeficit ($)Stockholders' Equity/(Deficit)

($)

Balance December 31, 2019 Common Shares issued Issuance of Preferred shares for PSYN Preferred shares converted Net loss for the year ended December 31, 2020 Balance December 31, 2020 Issuance of Preferred shares converted Issuance of Preferred shares converted Issuance of common shares debt conversion

24,068,400

24,068

754,067,423

75,407

108,307,964

(111,573,685)

(3,166,246)

560,596,565

55,793

555,861

611,654

10,000

(500,000)

(500)

50,000,000

5,000

(1,800)

-2,700

(861,031)

(861,031)

23,578,400

23,578

1,364,663,988

136,200

108,862,015

(112,438,041)

(3,416,248)

(650,000)

(650)

65,000,000

6,500

174,500

51,226

- 57,076

175

470,000,000

47,000

124,741,935

534,237581,412

12,474

(62,070) (49,596)

Net loss for the year ended December 31, 2021 Balance December 31, 2021

-

(873,550) (873,550)

23,102,900

23,103

2,024,405,923

202,174

109,385,408

(113,311,591)

(3,700,906)See accompanying notes to condensed consolidated financial statementF-3

AMERICAN PREMIUM WATER CORPORATION

STATEMENTS OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2021 AND DECEMBER 31 2020

Cash Flows From Operating Activities:

Net Loss from operations

$

(873,550)$

(861,031)

Adjustments to reconcile net loss to net cash used in operations Stock based compensation

347,500422,000

Change in value of derivative liabilities

(53,578)58,177

Depreciation 11,698

Amortization

8,77313,951

Changes in operating assets and liabilities:

Increase/ (decrease) in payable

166,76210,648

Increase/ (decrease) in accrued expenses (6,480)

Increase/ (decrease) in accrued interest and penalties 41,787

Increase/ (decrease) in other liabilities 26,118

Decrease/(increase) in accounts receivable 48,634

Decrease/(increase) in Inventory (17,292) 153,669

Decrease/(increase) in other assets Decrease/(increase) in Note Receivable

(4,880)

45,000 (5,159)

Net Cash Used In Operating Activities

(271,206)(196,047)

Cash Flows From Investing Activities:

Issuance of Note Receivable

Net Cash Used in Financing Activities

--238,217 (238,217))

Cash Flows From Financing Activities:

Proceeds from convertible note payable Proceeds from sale of common stock Proceeds from debt conversion Proceeds from Preferred stock exchange Proceeds from 3rd party

2,125345,000

-122,039

74,069167,233-

- (4,429 3,500

Net Cash Provided by Financing Activities

243,517466,110

Net Increase (Decrease )in Cash

(27,689)31,846

Cash at Beginning of Period

31,946100

Cash at End of Period

$

4,257$ 31,946

Supplemental disclosure of cash flow information:

See accompanying notes to condensed consolidated financial statement

F-4

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