Sports Quest, Inc.

Consolidated Balance Sheet

As at June 30, 2022 (Unaudited)

Notes

ASSETS

Current Assets

Cash and cash equivalents

4

Accounts receivable

5

Prepaid expenses

6

Total Current Assets

Long term receivables

Intangible assets - Allied / ECO

8

Total Assets

STOCKHOLDERS' EQUITY & LIABILITIES

Current Liablities

Current portion of long term debts:

Notes payable - JB

Trade and other payables

9

Accrued expenses

Total Current Liabilities

Long-term debt - net of current portion

Total Liabilities

SHAREHOLDER'S EQUITY

Preferred A Stock, $.0001 par value (1,200,000 Issued shares authorized)

Preferred B Stock, $.0001 par value (1,000,000 Issued shares authorized)

Common stock, $.0001 par value (5,000,000,000 issued shares authorized)

Accumulated deficit

Total Shareholders' Equity

Total Liabilities and Equity

As at June 30, 2022

As at December 31,

(Unaudited)

2021 (Unaudited)

($)

($)

41,392

62,615

17,244

3,946

19,884

4,186

78,520

70,747

-

-

-

-

78,520

70,747

-

-

-

-

-

-

-

-

-

-

-

-

1,200

-

1,000

1,000

417,876

417,876

(341,556)

(348,129)

78,520

70,747

78,520

70,747

Sports Quest, Inc.

Consolidated Statement of Operations

For the period ended June 30, 2022

For the period ended

For the period ended

June 30, 2022

June 30, 2021

---- $ ----

REVENUE

147,334

162,506

COST OF GOODS SOLD

(97,178)

(66,990)

GROSS PROFIT

50,156

95,516

OPERATING EXPENSES

Selling, general and administrative expense

31,365

25,176

TOTAL OPERATING EXPENSES

31,365

25,176

OPERATING PROFIT / (LOSS)

18,791

70,340

OTHER INCOME / (EXPENSE)

Other income

-

-

Interest expense

(12,218)

(7,048)

Liabilities write off

-

-

PROFIT / (LOSS) BEFORE TAX

6,573

63,292

Taxes

-

-

NET PROFIT / (LOSS)

6,573

63,292

Sports Quest, Inc.

Statement of Shareholders' Equity

As at June 30, 2022 (Unaudited)

Series A - Preferred Stock

Series B - Preferred Stock

Common Stock

Accumulated Profit

Shares

Par

Shares

Par

Shares

Par

/ (Deficit)

As at January 1, 2022 (Unaudited)

-

-

10,000,000

1,000

4,178,763,151

417,876

(348,129)

Series A - preferred stock issued during the period

1,200,000

1,200

-

-

-

-

-

Profit / (loss) for the period

6,573

As at June 30, 2022 (Unaudited)

1,200,000

1,200

10,000,000

1,000

4,178,763,151

417,876

(341,556)

Total

70,747

1,200

6,573

78,520

Sports Quest, Inc.

Statement of cashflows

As at June 30, 2022 (Unaudited)

Cash flow from operating activities

2022

2021

(Loss) / profit before income tax

6,573

-

Adjustment for non cash charges and other items

-

-

Changes in operating assets

6,573

-

Decrease / (increase) in account receivable

(13,298)

820

Decrease / (increase) in long term receivable

-

-

(Decrease) / increase in trade payables

-

43,627

(Decrease) / increase in accrued expenses

-

-

Decrease / (increase) in prepaid expenses

(15,698)

1,130

(28,996)

45,577

Cash flow from operating activities

(22,423)

45,577

Cash flow from investing activities

Additions / disposal in intellectual properties

-

-

Disposal of wireless division

-

-

Additions in investments

-

-

Cash flow from / (used) in investing activities

-

-

Cash flow from financing activities

Increase / (decrease) in long term debts

-

-

Issuance of share capital

-

-

Issuance / (Buy back) of shares

1,200

-

Cash flow from financing activities

1,200

-

Increase / (decrease) in cash and cash equivalents

(21,223)

45,577

Cash and cash equivalents at beginning of the period

62,615

7,761

Cash and cash equivalents at end of the period

41,392

53,338

Sports Quest, Inc.

Notes to the Financial Statements

For the period ended June 30, 2022

  1. LEGAL STATUS AND OPERATIONS
    Sports Quest, Inc. ("the Company") currently is a holding company operating two separate operating divisions. The company operates a beverage business from its 10,000 sq foot Phoenix Az location www.clearvoda.com as its core business model. The company is also engaged in certain R&D of solar- powered or green energy type energy product lines; including other "unicorn" type of products and in non- aligned industry, spaces encompassing new or emerging technologies with hyper-growth type opportunities
  2. BASIS OF PREPARATION
  1. Statement of compliance
    The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America and pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") on a going concern.
  2. Accounting Convention
    These financial statements have been prepared on the basis of 'historical cost convention using accrual basis of accounting except as otherwise stated in the respective accounting policies notes.
  3. Going concern
    The accompanying financial statements have been prepared assuming that the Company will continue as a going concern no adjustments have been made for any other outcome.
    The company is currently in negotiations with current debt holders to satisfy terms for delinquent debt and seeking financing to continue our current business model. As of the date of these financial statements the company has not been successful in finding financing. There is no assurance that the company will find financing to continue our projects.The Company is currenty disputing approx 2.2 Billion common shares issued to various individuals and corporations in a private placement certain fixed assets and for services rendered. To date none of these assets were delivered nor services provided. The company transfer agent has been notified to place these stock presentations on the watch.The Company does NOT expect these shaes to enter the marketplace.
    The ability of the Company to continue as a going concern is dependent on the Company's ability to raise additional capital and expand its business and to satisfy current delinquent debt. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. The Company anticipates raising additional working capital through the issuance of debt and

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SportsQuest Inc. published this content on 14 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 July 2022 19:33:01 UTC.