SUPERBOX, INC.

BALANCE SHEETS

(unaudited)

October 31,

January 31,

2021

2021

ASSETS

Total Assets

$

-

$

-

LIABILITIES & STOCKHOLDERS' DEFICIT

Current liabilities

Accounts payable

3,026

-

Notes payable-related party

12,306

7,292

Total current liabilities

15,332

7,292

Total liabilities

15,332

7,292

Commitments and Contingencies

-

-

Stockholders' Equity

Preferred stock, Series A par value $0.001, 5,000,000 shares authorized; 5,000,000 and -0- share,

respectively, issued and outstanding as of October 31, 2021 and January 31, 2021, respectively

5,000

5,000

Common stock, Par Value $0.001, 100,000,000 shares authorized,

37,869,999 issued and outstanding as of October 31, 2021 and January 31, 2021, respectively

37,870

37,870

Additional paid in capital

2,938,468

2,931,176

Retained earnings (deficit)

(2,996,670)

(2,981,338)

Total Stockholders' (Deficit)

(15,332)

(7,292)

Total Liabilities and Stockholders' (Equity)

$

-

$

-

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

SUPERBOX, INC.

STATEMENTS OF OPERATIONS

(unaudited)

Three months

Nine months

ended

ended

October 31,

October 31,

2021

2021

Revenue

$

-

$

-

Operating Expenses:

Administrative expenses -related party

3,007

15,332

Total operating expenses

3,007

15,332

(Loss) from operations

(3,007)

(15,332)

Other expense

-

-

Other (expense) net

-

-

Income (loss) before provision for income taxes

(3,007)

(15,332)

Provision for income taxes

-

-

Net (Loss)

$

(3,007)

$

(15,332)

Basic and diluted earnings(loss) per common share

$

(0.00)

$

(0.00)

Weighted average number of shares outstanding

37,869,999

37,869,999

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

SUPERBOX, INC.

STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY

(unaudited)

Additional

Total

Preferred

Stock

Common

Stock

Paid-in

Accumulated

Stockholders'

Shares

Value

Shares

Value

Capital

Deficit

Equity

Balance, January 31, 2021

5,000,000

$

5,000

37,869,999

$

37,870

$

2,931,176

$

(2,981,338)

$

(7,292)

Net loss

(1,891)

$

(1,891)

Forgiveness

of related

party debt

7,292

7,292

Balance, April 30, 2021

5,000,000

$

5,000

37,869,999

$

37,870

$

2,938,468

$

(2,983,229)

$

(1,891)

Net loss

(10,434)

(10,434)

Balance, July 31, 2021

5,000,000

$

5,000

37,869,999

$

37,870

$

2,938,468

$

(2,993,663)

$

(12,325)

Net loss

(3,007)

(3,007)

Balance, October 31, 2021

5,000,000

$

5,000

37,869,999

$

37,870

$

2,938,468

$

(2,996,670)

$

(15,332)

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

SUPERBOX, INC.

STATEMENTS OF CASH FLOWS

(unaudited)

October 31,

2021

Cash Flows From Operating Activities:

Net loss

$

(15,332)

Changes in assets and liabilities

Accounts payable

3,026

Net cash provided by (used for) operating activities

(12,306)

Cash Flows From Investing Activities:

Net cash provided by (used for) investing activities

-

Cash Flows From Financing Activities:

Proceeds from related party loans

12,306

Net cash provided by (used for) financing activities

12,306

Net Increase (Decrease) In Cash

-

Cash At The Beginning Of The Period

-

Cash At The End Of The Period

$

-

Supplemental disclosure of cash flow information:

Forgiveness of related party debt

$

7,292

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

SUPERBOX, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE AND NINE MONTHS ENDED OCTOBER 31, 2021

(Unaudited)

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS

Superbox Inc.("Superbox" or the "Company") Superbox, Inc. was originally incorporated under the name Telequipment Inc. on July 22, 1996, in the State of Nevada. The Company has been dormant since December, 2000.

On March 11, 2020, pursuant to a court order in the Eighth Judicial District Court in Clark County, Nevada, Case # A-20-809896-B, Custodian Ventures, LLC managed by David Lazar was appointed the Custodian of the Company.

On February 2, 2021, Custodian Ventures sold its controlling interest in the Company by selling 5,000,000 shares of Series A Preferred Stock to Britannica Management Ltd.

Superbox was a company focused on cutting-edge transition technologies related to the waste conversion process and energy sector. Highly specialized in the field of alternative fuels, aimed at deep emissions reduction and decarbonization of various fuels, the Company continuously strives to innovate with the ultimate goal of a zero-carbon footprint. At present, the Company holds patented and internationally applied technologies. The Company's technologies are related mainly to desulphurization of fuels, Nano Emulsions, and Waste to Energy solutions. One of Company's key success factors is the focus on research and development to own and develop technologies that can drive towards zero emissions, all in support of the highly topical issue related to the green economy and economic sustainability.

The Company's year-end is January 31.

COVID-19

On March 11, 2020, the World Health Organization ("WHO") declared the Covid-19 outbreak to be a global pandemic. In addition to the devastating effects on human life, the pandemic is having a negative ripple effect on the global economy, leading to disruptions and volatility in the global financial markets. Most US states and many countries have issued policies intended to stop or slow the further spread of the disease.

Covid-19 and the U.S's response to the pandemic are significantly affecting the economy. There are no comparable events that provide guidance as to the effect the Covid-19 pandemic may have, and, as a result, the ultimate effect of the pandemic is highly uncertain and subject to change. We do not yet know the full extent of the effects on the economy, the markets we may serve, our future potential business, or our operations.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying financial statements have been prepared in accordance with the Financial Accounting Standards Board ("FASB") "FASB Accounting Standard Codification™" (the "Codification") which is the source of authoritative accounting principles recognized by the FASB to be applied by nongovernmental entities in the preparation of financial statements in conformity with generally accepted accounting principles ("GAAP") in the United States.

Going Concern

The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business for the twelve months following the date of these financial statements. The Company has incurred operating losses since its inception. As of October 31, 2021, the Company had an accumulated deficit of $2,996,670.

Because the Company does not expect that existing operational cash flow will be sufficient to fund presently anticipated operations, this raises substantial doubt about the Company's ability to continue as a going concern. Therefore, the Company will need to raise additional funds and is currently exploring alternative sources of financing.

Use of Estimates

The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. The most significant estimates relate to income taxes and contingencies. The Company bases its estimates on historical experience, known or expected trends, and various other assumptions that are believed to be reasonable given the quality of information available as of the date of these financial statements. The results of these assumptions provide the basis for making estimates about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ from these estimates.

This is an excerpt of the original content. To continue reading it, access the original document here.

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

SuperBox Inc. published this content on 22 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 November 2021 22:38:18 UTC.