Forward Looking Statements

This Quarterly Report on Form 10-Q contains forward-looking statements. For this purpose, any statements contained in this Report that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking information includes statements relating to future actions, prospective products, future performance, or results of current or anticipated products, sales and marketing efforts, costs and expenses, interest rates, outcome of contingencies, financial condition, results of operations, liquidity, business strategies, cost savings, objectives of management, and other matters. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "will," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "continue" and similar expressions or the negative of these similar terms. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking information to encourage companies to provide prospective information about themselves without fear of litigation so long as that information is identified as forward-looking and is accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those projected in the information.

These forward-looking statements are not guarantees of future performance and involve risks, uncertainties, and assumptions that we cannot predict. In evaluating these forward-looking statements, you should consider various factors, including the following: (a) those risks and uncertainties related to general economic conditions, (b) whether we are able to manage our planned growth efficiently and operate profitable operations, (c) whether we are able to generate sufficient revenues or obtain financing to sustain and grow our operations, (d) whether we are able to successfully fulfil our primary requirements for cash, which are explained below under "Liquidity and Capital Resources". We assume no obligation to update forward-looking statements, except as otherwise required under the applicable federal securities laws. Unless stated otherwise, terms such as the "Company," "BioQuest," "we," "us," "our," and similar terms shall refer to BioQuest Corp., Inc., a Nevada corporation, and its subsidiaries.



Results of Operations

Working Capital

                           October 31, 2021       April 30, 2021
                                  $                     $
Current assets                         6,856               17,097
Current liabilities                  450,507            1,786,868
Working capital deficit             (443,652 )         (1.769,541 )



Cash Flows

                                                       Six Months            Year Ended
                                                    October 31, 2021       April 30, 2021
Cash flows used in operating activities            $          (64,442 )           (193,206 )
Cash flows provided by financing activities                    65,000              193,000
Cash flows used in investing activities                             -                    -
Net increase (decrease) in cash during period      $              558     $             94



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Three and six months ended October 2021 Compared to the three and six months ended October 31, 2020

Operating Revenue

The Company had no revenue for the three months and six months ended October 31, 2021, or for the same periods in 2020.

Cost of Revenues

The Company had no cost of revenues for the three and six months ended October 31, 2021 or for the same periods in 2020.

Operating Expenses

Compensation was $83,570 and $467,570 for the three months and six months ended October 31,2021 compared to $384,000 and 50,000 for the same periods in 2020.

Stock Compensation was $16,666 and $50,000 for the three and six months ended October 31, 2021 compared to $150,000 and 150,000$ for the same periods in 2020.

Professional Fees were $41,115 and $71,909 for the three and six months ended October 31,2021 as compared to $79,812 and $105,843 for the same periods in 2020 for SEC filings as professional fees for investor relations.

General and administrative expenses consisted primarily of marketing, product development and general expenses. For the three and six months ended October 31, 2021, general and administrative expenses were $35,282 and $51,302 as compared to $15,361 and 54,960 for the same periods in 2020.

Derivative Gain was $1,692 and $74,045 in the three and six months ended October 31,2021 and $-0- and $ -0- for the same periods in the previous year.

Interest expense was $12,998 and $58,426 in the three and six months ended October 31, 2021, and $1,108 and $1,708 for the same periods in the previous year.

Net Income (Loss)

The Company had net loss of $187,939 and $624,984 for the three months and six ended October 31,2021 as compared to a net loss of $630,281 and $952,511 for the same periods in the previous year, 2020.

Liquidity and Capital Resources

The ability of the Company to continue as a going concern is dependent on the Company's ability to raise additional capital and implement its business plan. Since its inception, the Company has been funded by related parties through capital investment and borrowing of funds.

As of October 31, 2021, the Company had total current assets of $6,856. Current assets consisted primarily of cash and prepaid expenses. As of October 31, 2021, the Company had total current liabilities of $450,507 compared to $1,786,868 as of April 30, 2021. Current liabilities consisted primarily of accounts payable accrued liabilities and accrued compensation.

We had negative working capital of $443,652 as of October 31, 2021.

Cash flow from Operating Activities

During the six months ended October 31, 2021, cash used in operating activities was $64,442 compared to $145,096 for the six months ended October 31, 2020

Cash flow from Financing Activities

For the six months ended October 31, 2021, cash provided by financing activities was $ 65,000 compared to $ 145,096 provided for the same period ended October 31, 2020.



Quarterly Developments

None.

Subsequent Developments

None.

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Going Concern

The accompanying unaudited interim consolidated condensed financial statements have been prepared in conformity with generally accepted accounting principles which contemplate continuation of the Company on a going-concern basis. The going concern basis assumes that assets are realized, and liabilities are extinguished in the ordinary course of business at amounts disclosed in the consolidated financial statements. The Company has incurred recurring losses from operations and has an accumulated deficit of $. The Company's ability to continue as a going concern depends upon its ability to obtain adequate funding to support its operations through continuing investments of debt and/or equity by qualified investors/creditors, internally generated working capital and monetization of intellectual property assets. These factors raise substantial doubt about the Company's ability to continue as a going concern. These consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. Management is currently pursuing a business strategy which includes raising the necessary funds to finance the Company's development and marketing efforts.

Critical Accounting Estimates and Policies

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Note 1 to the Financial Statements describes the significant accounting policies and methods used in the preparation of the Financial Statements. Estimates are used for, but not limited to, contingencies and taxes. Actual results could differ materially from those estimates. The following critical accounting policies are impacted significantly by judgments, assumptions, and estimates used in the preparation of the Financial Statements.

We are subject to various loss contingencies arising in the ordinary course of business. We consider the likelihood of loss or impairment of an asset or the incurrence of a liability, as well as our ability to reasonably estimate the amount of loss in determining loss contingencies. An estimated loss contingency is accrued when management concludes that it is probable that an asset has been impaired, or a liability has been incurred and the amount of the loss can be reasonably estimated. We regularly evaluate current information available to us to determine whether such accruals should be adjusted.

We recognize deferred tax assets (future tax benefits) and liabilities for the expected future tax consequences of temporary differences between the book carrying amounts and the tax basis of assets and liabilities. The deferred tax assets and liabilities represent the expected future tax return consequences of those differences, which are expected to be either deductible or taxable when the assets and liabilities are recovered or settled. Future tax benefits have been fully offset by a 100% valuation allowance as management is unable to determine that it is more likely than not that this deferred tax asset will be realized.

Recent Accounting Pronouncements

The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Off Balance Sheet Arrangements

We have not entered any 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, capital expenditures or capital resources and would be considered material to investors.

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