General European Strategic Investments : AUDITED FISCAL 2021

GENERAL EUROPEAN STRATEGIC INVESTMENTS, INC.

Audited Financial Statements

For the years ended December 31,2021 and December 31,2020

GENERAL EUROPEAN STRATEGIC INVESTMENTS, INC.

INDEX TO FINANCIAL STATEMENTS

	Page
Report of Independent Registered Public Accounting Firm	F-1
Balance Sheets as of December 31, 2021, and 2020	F-2
Statements of Operations for the Years ended December 31, 2021, and 2020	F-3
Statements of Stockholders' Deficit for the Years ended December 31, 2021, and 2020	F-4
Statements of Cash Flows for the Years ended December 31, 2021, and 2020	F-5
Notes to the Financial Statements	F-6-F12

Report of Independent Registered Public Accounting Firm

To the shareholders and the board of General European Strategic Investment, Inc.

We have audited the accompanying balance sheets of General European Strategic Investment, Inc. (the "Company") as of December 31, 2021, and 2020 and the related statements of operations, changes in shareholders' equity and cash flows, for each of the two years in the period ended December 31, 2021, and 2020, and the related notes collectively referred to as the "financial statements".

In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2021, and 2020, and the results of its operations and its cash flows for the year ended December 31, 2021, and 2020, in conformity with U.S. generally accepted accounting principles.

Going Concern

The accompanying financial statements have been prepared assuming the company will continue as a going concern as disclosed in Note 4 to the financial statement, the Company has continuously incurred a net loss of $(4,272,276) for the year ended December 31, 2021, and an accumulated deficit of $(155,980,085), and a working capital deficit of $(7,227,431) as at December 31, 2021. The continuation of the Company as a going concern through December 31, 2021, is dependent upon improving the profitability and the continuing financial support from its stockholders. Management believes the existing shareholders or external financing will provide the additional cash to meet the Company's obligations as they become due.

These factors raise substantial doubt about the company ability to continue as a going concern. These financial statements do not include any adjustments that might result from the outcome of the uncertainty.

Basis for Opinion

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion. The company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion

OLAYINKA OYEBOLA & CO. (Chartered Accountants)

We have served as the Company's auditor since March 2022.

August 23rd, 2022.

Houston Texas

F-1

GENERAL EUROPEAN STRATEGIC INVESTMENTS, INC.

Balance Sheets

(Expressed in United States dollars)
As at December 31,	As at December 31,
		2021		2020
ASSETS
Current Assets
Cash	$	35,097	$	3,245
Receivables and prepaid expenses and deposits		25,491		35,273
Total Current Assets		60,588		38,518
Non-current assets
Equipment		1,913		-
Mining licenses (note 4)		25,907,225		25,869,376
TOTAL ASSETS	$	25,969,726	$	25,907,894
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Accounts payable and advances payable	$	649,349	$	331,084
Convertible promissory notes		70,000		70,000
Loans payable		265,731		49,309
Related party advances		6,302,939		2,622,803
Total Current Liabilities		7,288,019		3,073,196
Stockholders' equity
Common stock, par value $0.0001
490,000,000 authorized, 310,646,485 and 302,646,485
issued and outstanding as of December 31, 2021
$		31,064	$	30,264
Series A1 Preferred stock, par value $0.001
1 authorized
1 issued and outstanding as at December 31, 2021		-		-
Series B Preferred stock, par value $0.00001
100,000 authorized
93,000 and 100,000 issued and outstanding as of December 31,
2021and 2020		1		1
Additional paid-up capital		174,535,892		174,433,692
Accumulated other comprehensive income		94,835		78,550
Accumulated deficit		(155,980,085)		(151,707,809)
Total Stockholder Equity		18,681,707		22,834,698
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	25,969,726	$	25,907,894

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

F-2

GENERAL EUROPEAN STRATEGIC INVESTMENTS, INC.
Statements of Operations
For the years ended December 31, 2021, and 2020
(Expressed in United States dollars)
	2021	2020
	$	$
Revenue	399,566	1,093,572
Cost of sales	24,719	608,859
Gross Profit	374,847	484,713
Expenses
Consulting & Professional Fee	-	50,000
General and Administrative	4,602,817	1,826,274
Loss from Operation	(4,227,970)	(1,391,561)
Other Income / (Expense)
Interest income / (expense)	229,688	(24,489)
Total Other Expense	229,688	(24,489)
Income taxes	273,994	47,726
Net loss for the year	(4,272,276)	(1,463,776)
Other Comprehensive Income
Translation Adjustment	16,285	(1,690)
Total Comprehensive (Loss)	(4,255,991)	(1,465,466)

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

F-3