General Information about Our Company

Business Warrior Corporation (the "Company" or "Business Warrior") was originally incorporated under the name Kading Companies, S.A. under the International Business Companies Ordinance of the Territory of the British Virgin Islands on October 10, 1995. On January 31, 2020, following our acquisition of Bluume LLC, dba Business Warrior, Kading changed its name to Business Warrior Corporation and was redomiciled in Wyoming. It is currently an active corporation in the state of Wyoming.

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our consolidated financial statements and related notes that appear elsewhere in this prospectus. In addition to historical consolidated financial information, the following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results and the timing of events may differ materially from those stated in or implied in the forward-looking statements. Factors that could cause or contribute to these differences include those discussed below and elsewhere in this report, particularly in "Risk Factors" and elsewhere in this registration statement.

We consider ourselves to be a Software-as-a-Service (SaaS) company with revenues being generated from the leads that our SaaS generates, which results in various non-recurring and monthly recurring services.





Results of Operations

For the Three Months Ended May 31, 2022 and 2021

Revenues

For the three months ended May 31, 2022 and 2021, we had revenues of $1,227,007 and $2,969,689, respectively. The decrease was due to $2,902,030 in non-recurring revenue from a former channel partner received in 2021 but not in 2022.





Operating Expenses

For the three months ended May 31, 2022 and 2021, we had operating expenses of

$1,454,510 and 1,898,350, a decrease of 23.4%, due to a decrease in advertising and promotional expenses, but offset by an increase salaries and general and administrative expenses.

Net Loss

Our Net Income (Loss) for the three months ended May 31, 2022 and 2021, was $(426,701) versus $1,156,488 respectively. The difference is attributable to a decrease in revenue and increase in cost of sales.

For the Nine Months Ended May 31, 2022 and 2021

Revenues

For the nine months ended May 31, 2022 and 2021 we had revenues of $2,415,644 and $3,359,579, respectively, a decrease of 28%. Cost of sales were 2,141,071 and 3,306,671 for the period, representing 11.4% and 1.5% of revenue respectively.





Operating Expenses

For the nine months ended May 31, 2022 and 2021 we had operating expenses of $4,229,093 and $2,434,805.





Net Loss

For the nine months ended May 31, 2022 and 2021 we had Net Income (Loss) of $(1,981,324) and $951,247, respectively. The difference is attributable to a decrease in revenue and increase in cost of sales.

Our total assets increased to $6,439,557 from $4,508,944 during the nine-month period ended May 31, 2022. This increase was due to the Helix House acquisition which included $2,194,110 in goodwill.

Total liabilities decreased to $2,127,073 from $2,562,977 during the nine-month period ended May 31, 2022. The decrease reflects a decrease in accrued expenses from $1,746,180 in 2021 to $165,375 in 2022 that was partially offset by an increase in deferred revenue from $0 in 2021 to $1,174,242 for the period ended May 31, 2022.

Net cash from financing activities increased to $1,589,432 as at May 31, 2022 as compared to $764,193 for the same period in 2021. Most of the financing proceeds were from the issuance of shares of the Company's common stock.

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