Firma : FRMA Q1 2022 FS

FIRMA HOLDINGS CORP. AND SUBSIDIARIES

UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

AS OF AND FOR

MARCH 31, 2022

AND THE

THREE MONTHS ENDED MARCH 31, 2022 AND 2021

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TABLE OF CONTENTS
	Page
FINANCIAL STATEMENTS:
Consolidated Balance Sheets.......................................................................................................................................	3
Consolidated Statements of Operations.......................................................................................................................	4
Consolidated Statements of Stockholders' Equity.......................................................................................................	5
Consolidated Statements of Cash Flows .....................................................................................................................	7
Notes to the Consolidated Financial Statements..........................................................................................................	8-20

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FIRMA HOLDINGS CORP. AND SUBSIDIARIES

(formerly known as Tara Minerals Corp.) (An Exploration Stage Company)

UNAUDITED CONSOLIDATED BALANCE SHEETS

Assets		March 31, 2022	December 31, 2021
Current assets:
Cash and cash equivalents	$	91,522			$	97,864
Trade receivables			58,000				58,000
Prepaid assets		139,266				252,750
Inventory		10,000				10,000
Deposit		900,000				-
Notes receivable, current		50,053				49,464
Notes receivable, related parties		116,048				123,939
Total current assets		1,364,889				592,017
Goodwill		195,627				195,627
Other		73				73
Total assets		$	1,560,588			$	787,717
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable and accrued expenses	$	1,065,084			$	1,908,499
Notes payables, current portion			5,739,434				5,739,434
Convertible notes payable, net		267,000				265,163
Total current liabilities			7,071,518				7,913,096
Convertible notes payable, non-curent portion, net			274,961				317,165
Total liabilities		7,346,479				8,230,261
Stockholders' equity:
Preferred stock undesignated: $0.01 par value, authorized 25,000,000
shares; -0- issued and outstanding			-				-
Preferred stock Class A: $0.01 par value, authorized 75,000,000 shares;
75,000,000 issued and outstanding		750,000				750,000
Common stock: $0.001 par value; authorized 500,000,000 shares; issued
and outstanding 314,076,668 and 288,727,952 shares			314,077				288,728
Additional paid-in capital		50,431,070				49,885,459
Common stock payable		2,303,250				1,052,949
Accumulated deficit		(59,584,287)			(59,419,681)
Total Firma Holdings stockholders' equity
		(5,785,890)			(7,442,544)
Total liabilities and stockholders' equity	$	1,560,588			$	787,717

See accompanying notes to these consolidated financial statements.

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FIRMA HOLDINGS CORP. AND SUBSIDIARIES

(formerly known as Tara Minerals Corp.) (An Exploration Stage Company)

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

	For the Three Months Ended
		March 31,
		2022				2021
Mining revenues	$	-		$		-
Cost of revenue		-				-
Gross margin		-				-
Operating, general and administrative expenses		199,406				(116,001)
Net operating loss (income)		199,406				(116,001)
Non-operating (loss) income:
Interest income		1,698				1,215
Interest expense		(160,783)			(227,197)
Gain on debt extinguishment		202,457				994,193
Unrealized (loss) gain on cash equivalents		(8,571)				6,813
Change in derivative liability		-				(7,849)
Total non-operating income		34,800				767,175
(Loss) gain before income taxes		(164,606)				651,174
Income tax provision		-				-
Loss before discontinued operations		(164,606)				651,174
Loss from discontinued operations, including loss on						(38,365)
disposal		-
Net loss	$	(164,606)		$		612,809
Net loss per share before discontinued operations, basic and				$		(0.00)
dilutive	$	(0.00)
Discontinued operations, basic and dilutive	$	(0.00)		$		(0.00)
Net loss per share, basic and dilutive	$	(0.00)		$		(0.00)
Weighted average number of shares, basic and dilutive		303,730,003				237,420,813

See accompanying notes to these consolidated financial statements.

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FIRMA HOLDINGS CORP. AND SUBSIDIARIES (Formerly known as Tara Minerals Corp.)

(An Exploration Stage Company)

UNAUDITED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY

				Preferred Stock	Common Stock	Additional	Common Stock	Accumulated
																						Paid-In				Payable
				Shares	Amount	Shares	Amount				Capital		(Receivable)		Deficit		Total
	Balance at December 31, 2020	-	$	-			162,145,696	$ 162,146	$	44,582,392				$	828,750	$(58,053,243)	$	(12,479,957)
	Cash for stock	-				-		40,723,714	40,724					835,168				(281,570)	-		594,322
	Stock for services			-				-			5,500,000			5,500					519,500					510,961		-			1,035,961
	Renegotiated stock subscription to convertible
	debt			-				-			-			-							-				(515,000)		-			(515,000)
	Beneficial conversion feature on convertible
	notes payable/debt discount on notes payable			-				-			-			-					1,553,243					-		-			1,553,243
	Conversion of convertible debt	-				-		87,858,542	87,859					3,184,907				509,808	-		3,782,574
	Stock in purchase of Monochrome forfeited	-				-		(7,500,000)	(7,500)					(39,750)				-	-		(47,250)
	Issuance of preferred stock at par value			75,000,000				750,000			-			-					(750,000)					-		-			-
	Net loss			-				-			-			-							-				-		(1,366,437)			(1,366,437)
	Balance at December 31, 2021			75,000,000			$	750,000			288,727,952			$ 288,728		$	49,885,460		$	1,052,949	$(59,419,681)	$	(7,442,544)
	Cash for stock		-					-				-			-							-					50,000		-			50,000
	Stock for services	-				-			16,237,514	16,238					354,722					300,301	-		671,260
	Conversion of convertible debt	-				-			9,111,202	9,111					190,889					-	-		200,000
	Stock encumbered for business purchase	-				-			-	-					-					900,000	-		900,000
	Net loss		-				-			-	-					-					-	(164,606)		(164,606)
	Balance at March 31, 2022	75,000,000	$	750,000			314,076,668	$ 314,077					50,431,070						2,303,250	(59,584,287)		(5,785,890)

See accompanying notes to these consolidated financial statements.

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