CB Scientific : For the Period Ending June 30, 2022

CB Scientific, Inc.

Incorporated in Oregon

340 State Place

Escondido, CA 92029

Telephone: [phone]

Corporate Website: www.cbscientificinc.com

Insert Company Email: [e-mail]

SIC Code: 8071

Quarterly Report

For the period ending June 30, 2022(the "Reporting Period")

The number of shares outstanding of our Common Stock is 112,598,195as of June 30, 2022

The number of shares outstanding of our Common Stock was 112,238,195as of March 31, 2022(end of previous reporting period)

We previously were a shell company, therefore the exemption offered pursuant to Rule 144 is not available.Anyone who purchased securities directly or indirectly fromus or any of our affiliates in a transaction or chain of transactions not involving a public offering cannot sell suchsecurities in an open market transaction.

Indicate by check mark whether the company is a shell company (as defined in Rule 405 of the Securities Act of 1933 and Rule 12b-2 of the Exchange Act of 1934):

Yes: No: X (Double-click and select "Default Value" to check)

Indicate by check mark whether the company's shell status has changed since the previous reporting period:

Yes: No: X

Indicate by check mark whether a Change in Control4 of the company has occurred over this reporting period:

Yes: No: X

4 "Change in Control" shall mean any events resulting in:

1. Any "person" (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) becoming the "beneficial owner" (as defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the total voting power represented by the Company's then outstanding voting securities;
2. The consummation of the sale or disposition by the Company of all or substantially all of the Company's assets;
3. A change in the composition of the Board occurring within a two (2)-year period, as a result of which fewer than a majority of the directors are directors immediately prior to such change; or
4. The consummation of a merger or consolidation of the Company with any other corporation, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or its parent) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after such merger or consolidation.

Quarterly Report For the period ending June 30, 2022

Page 1 of 22

Item 1 Exact name of the issuer and the address of its principal executive offices.

The Company was originally incorporated in the State of Oregon as WESTAQ NETWORK, INC. in June of 1987. In June of 1996 its name was changed to NET:X AMERICA INC., remaining an Oregon corporation. On December 14, 2015 it changed its name to CB SCIENTIFIC, INC., and is in good standing with the State of Oregon.

The address of the issuer's principal executive offices and address(es) of the issuer's principal place of business:

340 State Place Escondido, CA 92029 Phone: [phone]

Email: [e-mail]

Website(s): www.cbscientificinc.com

Item 2 Shares outstanding.

The number of shares or total amount of the securities outstanding:

1. Period end date: June 30, 2022
2. Number of shares authorized: 250,000,000
3. Number of shares outstanding: 112,598,195
4. Freely tradable shares (public float): 18,306,262
5. Number of beneficial shareholders owning at least 100 shares5: 168
6. Total number of shareholders of record: 233

Item 3 Interim financial statements.

Quarterly Report For the period ending June 30, 2022

Page 2 of 22

FOR THE THREE MONTHS ENDED JUNE 30, 2022

TABLE OF CONTENTS

	Page
Item 1. Consolidated Financial Statements
Consolidated Balance Sheets at June 30, 2022 (Unaudited) and March 31, 2022	F-1
Consolidated Statements of Operations (Unaudited) for the three months ended June 30, 2022 and 2021	F-2
Consolidated Statements of Cash Flows (Unaudited) for the three months ended June 30, 2022 and 2021	F-3
Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) for the three months ended June 30, 2022	F-4
Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) for the three months ended June 30, 2021	F-5
Notes to the Unaudited Consolidated Financial Statements	F-6

Quarterly Report For the period ending June 30, 2022

Page 3 of 22

CB SCIENTIFIC, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

		June 30,			March 31,
		2022			2022
		Unaudited
ASSETS
Current assets
Cash	$	107,536	$	426,976
Accounts receivable		6,771			51,576
Inventory		-			9,272
Notes receivable		-			40,000
Prepaids		13,053			-
Deposits	$	126,150			126,150
Total assets	253,510	$	653,974
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	14,823	$	9,770
Accrued liabilities		97,720			111,233
Convertible notes payable, net of discount		68,767			43,836
Total liabilities		181,310			164,839
Commitments and contingencies
Stockholder's equity (deficit)
Preferred stock, $0.001 par value, 50,000,000 shares authorized;
0 shares issued and outstanding at June 30, 2022 and March 31, 2022		-			-
Common stock, $0.001 par value; 250,000,000 shares authorized 112,598,195
and 112,238,195 issued and outstanding at June 30, 2022 and March 31, 2022		112,593			112,233
Additional paid in capital		13,062,071			13,013,859
Accumulated deficit		(13,102,464)			(12,636,957)
Total stockholders' equity (deficit)		72,200			489,135
Total liabilities and stockholders' equity (deficit)	$	253,510	$	653,974

The accompanying notes are an integral part of these consolidated financial statements

F-1

Quarterly Report For the period ending June 30, 2022

Page 4 of 22

CB SCIENTIFIC, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)

Revenues
Service revenue	$
Merchandise revenue
Total sales
Cost of goods sold
Gross profit
Operating expenses
Personnel expenses
Professional fees
General and administrative
Research and development
Depreciation and amortization
Total operating expenses
Net operating loss
Other income (expenses):
Interest expense
Amortization of debt discount
Total other expenses
Net income (loss)	$
Basic and diluted loss per share	$
Weighted average number of shares outstanding,
basic and diluted

For the three months ended

June 30,

2022		2021
43,500	$	-
27,186		6,517
70,686		6,517
10,272		4,536
60,414		1,981
148,708		186,265
74,868		11,670
148,111		22,017
128,597		-
-		390
500,284		220,342
(439,870)		(218,361)
(705)		(14,968)
(24,932)		(238,570)
(25,637)		(253,538)
(465,507)	$	(471,899)
(0.00)	$	(0.01)
112,318,195		82,355,000

The accompanying notes are an integral part of these consolidated financial statements

F-2

Quarterly Report For the period ending June 30, 2022

Page 5 of 22