FANSFRENZY CORPORATION
FINANCIAL STATEMENTS
For the 1st Quarter ended May 31, 2022
(Unaudited)
FANSFRENZY CORPORATION
MANAGEMENT REPORT
For the 1st Quarter ended May 31, 2022
(Unaudited)
Management's Certification
Fansfrenzy Corporation's Management certifies that all corporate actions are performed in conformity with the Securities Exchange Commission policies and Pink Sheets disclosure policies, and that the Company is currently in good standing and up to date in its corporate reports in compliance with all applicable laws.
The accompanying consolidated unaudited financial statements and the notes thereto, present fairly, in all material respects, the financial position of Fansfrenzy Corporation and the results of its operations and cash flows for the periods presented, in conformity with accounting principles generally accepted in the United States, consistently applied.
These statements were produced internally and published for the benefit of the shareholders.
(Signature in file)
Bernie Nicholls
President
June 30, 2022
FANSFRENZY CORPORATION
BALANCE SHEET
As at May 31, 2022
31-May | 28-Feb | |
2022 | 2022 | |
$ | $ | |
ASSETS | ||
Current | ||
Cash or equivalent | - | 108 |
- | 108 | |
Long Term Assets | ||
Sponsorships | - | - |
Intellectual Property | 1,107,831 | 1,107,831 |
1,107,831 | 1,107,831 | |
TOTAL ASSETS | 1,107,831 | 1,107,939 |
LIABILITIES | ||
Current | ||
Accounts payable and accrued liabilities | 10,112 | 15,169 |
10,112 | 15,169 | |
Long term liabilities | ||
Loan payable | 1,221,018 | 1,205,849 |
1,221,018 | 1,205,849 | |
SHAREHOLDERS' EQUITY | ||
Common Stock, $.001 par value; 900,000,000 shares authorized, | ||
55,930,252 issued and outstanding | 55,930 | 55,930 |
Preferred stock, $.001 par value; 20,000,000 shares authorized | ||
18,000,000 issued and outstanding | 18,000 | 18,000 |
Additional paid in capital common stock | 5,110,864 | 5,110,864 |
Accumulated deficit | (5,308,094) | (5,297,874) |
(123,299) | (113,079) | |
1,107,831 | 1,107,939 | |
FANSFRENZY CORPORATION
STATEMENT OF EARNINGS
For the 1st Quarter ended May 31, 2022 (Unaudited)
31-May | 28-Feb |
2022 | 2022 |
$ | $ |
INCOME | - | 4,200 |
- | 4,200 |
EXPENSES | ||
Lease | 3,000 | 12,000 |
Travel Expense | - | - |
Office & Administration | 41 | 219 |
Telephone | 29 | 150 |
Transfer Agent Fees | 750 | 4,250 |
Legal Expense | - | 2,550 |
Professional and consulting Fees | - | 37,400 |
Taxes & Licenses | 6,400 | 7,679 |
TOTAL EXPENSES | 10,220 | 64,248 |
LOSS FROM OPERATION | 10,220 | 64,248 |
NET EARNINGS/LOSS BEFORE INCOME TAXES | (10,220) | (60,048) |
See accompanying notes.
FANSFRENZY CORPORATION
STATEMENT OF CASHFLOWS For the 1st Quarter ended May 31, 2022 (Unaudited)
31-May | 28-Feb | |
2022 | 2022 | |
$ | $ | |
Cash flows from operating activities | ||
Net income (loss) | (10,220) | (60,048) |
Depreciation | - | - |
(Decrease) Increase in accounts payable and accrued liabilities | (5,057) | (8,310) |
Net cash provided (used) by operating activities | (15,277) | (68,358) |
Cash flows from investing activities | ||
Additions to long term assets | - | - |
Net cash provided (used) investing activities | - | - |
Issuance of capital stock | - | 98,662 |
Loans | 15,169 | (30,196) |
Net cash provided (Used) in financing activities | 15,169 | 68,466 |
Increase (decrease) in cash during period | (108) | 108 |
Cash Balance at the beginning of the period | 108 | - |
Cash Balance at the end of the period | (0) | 108 |
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Fansfrenzy Corp. published this content on 12 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 July 2022 20:43:03 UTC.