RESULTS OF OPERATIONS

We have generated operating revenues of $21,667 since inception and have incurred $248,038 in operating expenses from inception through December 31, 2019. We incurred net losses of $70,668 and $36,105 for the years ended December 31, 2019 and 2018, respectively. Our net loss since inception (September 30, 2014) through December 31, 2019 was $227,995. The following table provides selected financial data about our company for the years ended December 31, 2019 and 2018.





                                    December 31, 2019       December 31, 2018
       Balance Sheet Data

       Cash and Cash Equivalents   $               458     $               554
       Other Receivables           $            40,000     $            40,334
       Total Assets                $            40,458     $            40,888
       Total Liabilities           $           237,453     $           167,215
       Shareholders' Deficit       $          (196,995 )   $          (126,327 )




GOING CONCERN

Inbit Corp. is an investment holding company and currently has no operations. Our independent auditor has issued an audit opinion for Inbit Corp. which includes a statement raising substantial doubt as to our ability to continue as a going concern.

LIQUIDITY AND CAPITAL RESOURCES

Our cash balance at December 31, 2019 was $458 with $237,453 in outstanding liabilities. Total expenditures over the next 12 months are expected to be approximately $70,000. If we experience a shortage of funds prior to generating revenues from operations we may utilize funds from our directors, who have informally agreed to advance funds to allow us to pay for operating costs, however they have no formal commitment, arrangement or legal obligation to advance or loan funds to us. Management believes our current cash balance will not be sufficient to fund our operations for the next six months.

OFF-BALANCE SHEET ARRANGEMENTS

We have no off-balance sheet arrangements.

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