Bourque Industries : Annual Financial Report

B O URQ UE I ND USTRI E S, I NC.

ANNUAL REPORT

Ended MAY 31, 2022 and

Fiscal Year Ended

May 31, 2021

TABL E OF CONT ENTS

UNAUDITED FINANCIAL STATEMENTS

Unaudited Consolidated Balance Sheet,

As of Fiscal Year end May 31, 2022 and Fiscal Year end May 31, 2021

Unaudited Consolidated Income Statements

As of Fiscal Year end May 31, 2022 and Fiscal Year ended May 31, 2021

Unaudited Consolidated Statements of Cash Flows

As of Fiscal Year end May 31, 2022 and Fiscal Year ended May 31, 2021

Unaudited Statement of Shareholders' Equity

As of Fiscal Year end May 31, 2022 and Fiscal Year ended May 31, 2021

Notes to Unaudited Financial Statements

As of Fiscal Year end May 31, 2022 and Fiscal Year ended May 31, 2021

1

B OURQUE I NDU STRIE S , I NC .

(A Development Stage Company)

Unaudited Consolidated Balance Sheets

Assets

ASSETS	May 31, 2022	May 31,2021
Current Assets
Cash	$	0	$	0
Due from Related Parties		0		0
Prepaid Rent		0		0
Retainers		0		0
Total Current Assets		0		0
Property and Equipment
Processing Equipment		0		5,629
Office Equipment		0
Less: Accumulated Depreciation		0		(5,629)
Total Property and Equipment		0		0
Non-Current Assets
Intangible Assets:
Patents		6,121,186		6,144,417
Accumulated Amortization		(1,803,652)		(1,329,418)
Total Intangible Assets		4,317,534		4,814,999
Total Non-Current Assets		4,317,534		4,814,999
Total Assets	$	4,317,534	$	4,814,999

2

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

B OURQUE I NDU STRIE S , I NC .

(A Development Stage Company)

Unaudited Consolidated Balance Sheets

Liabilities & Stockholders' Equity

LIABILITIES & STOCKHOLDERS' EQUITY		May 31, 2022		May 31, 2021
Current Liabilities
Accounts Payable & Accrued Liabilities	$	871,931	$	773,914
Provision for Contingent Liabilities		200,000		200,000
Current Portion of Long-Term Liabilities		622,015		573,812
Total Current Liabilities		1,640,755		1,547,726
Total Liabilities		1,693,946		1,547,726
Stockholders' Equity
Common Stock .0001 par value
1,000,000,000
940,650,190 shares issued and outstanding		1,626,195		1,612,192
Additional Paid-In-Capital		42,238,166		42,238,040
Convertible preferred stock .0001 par
value, 100,000,000 authorized and
outstanding		10,000		10,000
Treasury Stock		1,185,000		1,185,000
Accumulated Deficit		(42,435,773)		(41,777,959)
Total Stockholders' Equity		2,623,588		3,267,273
Total Liabilities and Stockholders' Equity	$	4,317,534	$	4,814,999

3

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

B OURQUE I NDU STRIE S , I NC .

(A Development Stage Company)

Unaudited Consolidated Income Statements

	Fiscal Year Ended	Fiscal Year Ended
	May 31, 2022	May 31, 2021
Revenue
Sales	$	0	$	0
Total Revenue		0		0
Gross Profit		0		0
Operating Expenses
Legal, Consulting & Professional		0		0
Rents				0
Depreciation & Amortization Expense		134,632		136,835
Non-Trade Bad Debt Expense		0		0
General and Administrative		0		0
Compensation Expense		0		0
Total Operating Expenses		134,632		136,835
Net Operating (Loss)		(134,632)		(136,835)
Other Income (Expense)
Other Income		0		0
Interest Income (Expense)		(22,693)		(21,683)
Total Other Income (Expense)		(22,693)		(21,683)
Income (Loss) Before Income Taxes		(157,325)		(158,518)
Provision (Benefit) for Income Taxes		0		0
Net Income (Loss)		(157,325)		(158,518)

4

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

B OURQUE I NDU STRIE S , I NC .

(A Development Stage Company)

Unaudited Consolidated Statements of Cash Flows

Fiscal year Ended May 31, 2022 and Fiscal Year Ended

May 31,2021
Cash Flows from Operating Activities:
Net Income (Loss)	$	(157,325)	$	(158,518)
Adjustments to Reconcile Net Loss to Net Cash
Provided by Operations:
Depreciation and amortization		134,632		136,835
Cancellation of Debt Income		0		0
Common Stock issued for services		0		0
Loss on sale of property		0		0
Change in current assets and Liabilities
(Increase) Decrease in:
Deposits and prepaids		0		0
Accounts Receivable		0		0
Due form related parties		0		0
Accounts payable and accrued expenses		0		0
Provision for Contingent Liabilities		(200,000)		(200,000)
Net Cash Provided (Used) by Operation Activities		(222,693)		(221,683)
Cash Flows from Investing Activities:
Purchases of land, equipment and improvements		0		0
Investment in patents		0		0
Sale of building, land and equipment		0		0
Net Cash Used by investing activities		0		0
Cash Flows from Financing Activities:
Increase or (decrease) in notes payable		0		0
Proceeds from issuance of common stock		0		0
Net Cash Provided (Used) by Financing Activities		0		0
Increase (Decrease) in cash	$	0	$	0
Cash & Cash Equivalents - Beginning of period		0		0
Cash & Cash Equivalents - End of Period	$	0	$	0

5

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