FORWARD LOOKING STATEMENT


This quarterly report contains forward-looking statements. These statements
relate to future events or our future financial performance. In some cases, you
can identify forward-looking statements by terminology such as "may", "should",
"expects", "plans", "anticipates", "believes", "estimates", "predicts",
"potential" or "continue" or the negative of these terms or other comparable
terminology. These statements are only predictions and involve known and unknown
risks, uncertainties and other factors that may cause our or our industry's
actual results, levels of activity, performance or achievements to be materially
different from any future results, levels of activity, performance or
achievements expressed or implied by these forward-looking statements. Although
we believe that the expectations reflected in the forward-looking statements are
reasonable, we cannot guarantee future results, levels of activity, performance
or achievements. Except as required by applicable law, including the securities
laws of the United States, we do not intend to update any of the forward-looking
statements to conform these statements to actual results.



Our unaudited financial statements are stated in United States Dollars (US$) and
are prepared in accordance with United States Generally Accepted Accounting
Principles. All references to "common shares" refer to the common shares in

our
capital stock.



The following discussion should be read in conjunction with our financial
statements and the related notes that appear elsewhere in this quarterly report.
The following discussion contains forward-looking statements that reflect our
plans, estimates and beliefs. Our actual results could differ materially from
those discussed in the forward-looking statements. Factors that could cause or
contribute to such differences include, but are not limited to, those discussed
below and elsewhere in this quarterly report.

As used in this quarterly report, the terms "we", "us", "our" and "our company" mean Logicquest Technology, Inc., unless otherwise indicated.





General Overview




Our company was formed on July 23, 2001 when Solis Communications, Inc., a
company incorporated in the State of Texas on February 26, 2001, completed the
acquisition of Berens Industries, Inc., a company originally incorporated in the
State of Nevada on January 9, 1985. On September 17, 2001, we changed our name
to Crescent Communications Inc. d.b.a Crescent Broadband. On November 15, 2004,
we changed our name to Bluegate Corporation. On March 19, 2015, we changed our
name to Logicquest Technology, Inc.



We are a Nevada corporation that previously operated as a broadband network
service provider, providing internet connectivity to corporate clients on a
subscription basis. During May 2014 our board of directors authorized an orderly
wind-down of our Company's internet connectivity business which ceased effective
September 30, 2014.



Our Current Business

We are currently a company with no operations. To sustain our company's operation, our board is currently seeking investment opportunities.





At this stage, we can provide no assurance that we will be able to locate
compatible business opportunities, what additional financing we will require to
complete a business opportunity, or whether the opportunity's operations will be
profitable.

If we are unable to secure adequate capital to continue our business, our shareholders will lose some or all of their investment and our business will likely fail.





7





Results of Operations

Three and Nine Months Ended September 30, 2022 compared to the Three and Nine Months Ended September 30, 2021


We had a net loss of $18,982 for the three months ended September 30, 2022,
which was $80,326 less than the net loss of $99,308 for the three months ended
September 30, 2021. The change in our results over the three periods is a result
of a decrease in interest expenses.



We had a net loss of $192,802 for the nine months ended September 30, 2022,
which was $103,494 less than the net loss of $296,296 for the nine months ended
September 30, 2021. The change in our results over the three periods is a result
of a decrease in interest expenses.



The following table summarizes key items of comparison and their related
increase and decrease for the three and nine months ended September 30, 2022 and
2021:



                                                                                                            Nine Months
                     Three Months     Three Months       Three Months       Nine Months     Nine Months      Increase/
                        Ended            Ended            Increase/            Ended           Ended         (Decrease)
                      September        September          (Decrease)         September       September       2022 from
                       30, 2022         30, 2021        2022 from 2021       30, 2022        30, 2021           2021
Selling, general
and administrative
expenses             $     18,982     $     18,736     $            246     $    59,798     $    56,229     $      3,569
Loss from
operations                (18,982 )        (18,736 )                246         (59,798 )       (56,229 )          3,569

Interest expense                -          (80,572 )            (80,572 )  

   (133,004 )      (240,067 )       (107,063 )
Net loss             $    (18,982 )   $    (99,308 )   $        (80,326 )   $  (192,802 )   $  (296,296 )   $   (103,494 )




Revenue

We have not earned any revenues during the quarter of September 30, 2022 and we do not anticipate earning revenues in the upcoming quarter.

Liquidity and Capital Resources

As of September 30, 2022, we had no cash or cash equivalents, current liabilities of $13,994 and a stockholders' deficit of $13,283.





Working Capital



                            At                 At
                       September 30,      December 31,
                           2022               2021
Current assets        $           711     $       1,490
Current liabilities            13,994         6,513,681
Working capital       $       (13,283 )   $  (6,512,191 )

We anticipate generating losses and, therefore, may be unable to continue operations further in the future.





Financial Condition



                                                                           Increase
                                                Nine Months Ended         (Decrease)
                                                  September 30,           2022 from
                                               2022            2021          2021

Net cash used in operating activities $ - $ - $

-


Net cash provided by financing activities           -             -

-

Net decrease in cash during period $ - $ - $ 


       -
Cash balance at end of period                       -             -




8





Operating Activities

Net cash used in operating activities during the nine months ended September 30, 2022 and 2021 was nil.





Financing Activities

Cash provided by financing activities during the nine months ended September 30, 2022 and 2021 was nil.


To date we have relied on proceeds from the sale of our shares and on loans from
officers and directors, related companies and an independent third party in
order to sustain our basic, minimum operating expenses; however, we cannot
guarantee that we will secure any further sales of our shares or that our
officers and directors, related companies or the independent third party will
provide us with any future loans. We intend to use debt to cover the anticipated
negative cash flows until we can operate at a break-even cash flow mode. We may
seek additional capital to fund potential costs associated with possible
expansion and/or acquisitions. We believe that future funding may be obtained
from public or private offerings of equity securities, debt or convertible debt
securities, or other sources. Stockholders should assume that any additional
funding will likely be dilutive.

We are not aware of any known trends, demands, commitments, events or uncertainties that will result in or that are reasonably likely to result in our liquidity increasing or decreasing in any material way.





Future Financings



We anticipate continuing to rely on loans from a related company. We may obtain
funding through equity sales of our common stock in order to continue to fund
our business operations. Issuances of additional shares will result in dilution
to our existing stockholders. There is no assurance that we will achieve any
additional sales of our equity securities or arrange for debt or other financing
to fund our planned business activities.



We presently do not have any arrangements for additional financing for the
expansion of our exploration operations, and no potential lines of credit or
sources of financing are currently available for the purpose of proceeding

with
our plan of operations.

Off-Balance Sheet Arrangements





We have no off-balance sheet arrangements that have or are reasonably likely to
have a current or future effect on our financial condition, changes in financial
condition, revenues or expenses, results of operations, liquidity, and capital
expenditures or capital resources that are material to stockholders.



Critical Accounting Policies



Our discussion and analysis of our financial condition and results of operations
are based upon financial statements which have been prepared in accordance with
generally accepted accounting principles in the United States. The preparation
of these financial statements requires us to make estimates and judgments that
affect the reported amounts of assets, liabilities, revenue and expenses, and
related disclosure of contingent assets and liabilities. On an ongoing basis, we
evaluate these estimates. We base our estimates on historical experience and on
assumptions that are believed to be reasonable. These estimates and assumptions
provide a basis for making judgments about the carrying values of assets and
liabilities that are not readily apparent from other sources. Actual results may
differ from these estimates under different assumptions or conditions, and these
differences may be material.

We believe that the following critical accounting policies affect our more significant judgments and estimates used in the preparation of our financial statements.





RELATED PARTY TRANSACTIONS



A related party is generally defined as (i) any person that holds 10% or more of
the Company's securities and their immediate families, (ii) the Company's
management, (iii) someone that directly or indirectly controls, is controlled by
or is under common control with the Company, or (iv) anyone who can
significantly influence the financial and operating decisions of the Company. A
transaction is considered to be a related party transaction when there is a
transfer of resources or obligations

between related parties.



9

FAIR VALUE FINANCIAL INSTRUMENTS





For certain of the Company's financial instruments, including prepaid expenses
and accrued liabilities, the carrying amounts approximate fair values due to
their short maturities.




Transactions involving related parties cannot be presumed to be carried out on
an arm's-length basis, as the requisite conditions of competitive, free-market
dealings may not exist. Representations about transactions with related parties,
if made, shall not imply that the related party transactions were consummated on
terms equivalent to those that prevail in arm's-length transactions unless such
representations can be substantiated.

It is not, however, practical to determine the fair value of amounts due to related parties and lease and management arrangement with related parties, if any, due to their related party nature.





INCOME TAXES




The Company uses the liability method of accounting for income taxes. Under this
method, deferred income taxes are recorded to reflect the tax consequences on
future years of temporary differences between the tax basis of assets and
liabilities and their financial amounts at year-end. The Company provides a
valuation allowance to reduce deferred tax assets to their net realizable value.



The Company recognizes the tax benefit from an uncertain tax position only if it
is more likely than not the tax position will be sustained on examination by the
taxing authorities, based on the technical merits of the position. The tax
benefits recognized in the financial statements from such positions are then
measured based on the largest benefit that has a greater than 50% likelihood of
being realized upon settlement.



Going Concern



We remain dependent on outside sources of funding for the continuation of our
operations. Our independent registered public accounting firm issued a going
concern qualification in its report dated April 15, 2022 (included in our annual
report on Form 10-K for the year ended December 31, 2021), which raises
substantial doubt about our ability to continue as a going concern.

During the nine months ended September 30, 2022 and the year ended December 31, 2021, we have been unable to generate cash flows sufficient to support our operations and have been dependent on debt raised from a related party.

During the nine months ended September 30, 2022 and 2021, we experienced negative financial results as follows:





                                Nine Months Ended
                                  September 30,
                              2022            2021
Net loss                   $ (192,802 )   $   (296,296 )
Negative working capital      (13,283 )     (6,405,447 )
Stockholders' deficit         (13,283 )     (6,405,447 )




These factors raise substantial doubt about our ability to continue as a going
concern. The financial statements contained herein do not include any
adjustments relating to the recoverability and classification of recorded asset
amounts or amounts and classification of liabilities that might be necessary
should we be unable to continue in existence. Our ability to continue as a going
concern is dependent upon our ability to generate sufficient cash flows to meet
our obligations on a timely basis, to obtain additional financing as may be
required, and ultimately to attain profitable operations. However, there is no
assurance that profitable operations or sufficient cash flows will occur in the
future.

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