Location Based Technologies : FY 2022 2nd QTR Disclosure Statement

Disclosure Statement Pursuant to the Pink Basic Disclosure Guidelines

Location Based Technologies, Inc.

7545 Irvine Center Dr. Ste. 200

Irvine, CA 92618 _______________________________

[phone]www.locationbasedtech.com [e-mail] 517919

Quarterly Report

For the Period Ending: Feb 28, 2022

(the "Reporting Period")

As of

Feb 28, 2022

, the number of shares outstanding of our Common Stock was: 368,197,656 .

As of Nov 30 2021, the number of shares outstanding of our Common Stock was: 368,197,656.

As of Aug 30, 2021, the number of shares outstanding of our Common Stock was: 368,197,656.

Indicate by check mark whether the company is a shell company (as defined in Rule 405 of the Securities Act of 1933 and Rule 12b-2 of the Exchange Act of 1934):

Yes: ☐

No: ☒

Indicate by check mark whether the company's shell status has changed since the previous reporting period:

Yes: ☐

No: ☒

Indicate by check mark whether a Change in Control1 of the company has occurred over this reporting period:

Yes: ☐ 1)

No: ☒

Name and address(es) of the issuer and its predecessors (if any)

1 "Change in Control" shall mean any events resulting in:

(i) Any "person" (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) becoming the "beneficial owner" (as defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the total voting power represented by the Company's then outstanding voting securities;

• (ii) The consummation of the sale or disposition by the Company of all or substantially all of the Company's assets;

• (iii) A change in the composition of the Board occurring within a two (2)-year period, as a result of which fewer than a majority of the directors are directors immediately prior to such change; or

(iv) The consummation of a merger or consolidation of the Company with any other corporation, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or its parent) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after such merger or consolidation.

In answering this item, provide the current name of the issuer any names used by predecessor entities, along with the dates of the name changes.

Location Based Technologies, Inc. (formerly known as Springbank Resources, Inc.) (the "Company," "our," or "LBT") was incorporated under the laws of the State of Nevada on April 10, 2006.

Location Based Technologies, Corp. (formerly known as PocketFinder, Inc.) was incorporated under the laws of the State of California on September 16, 2005. On July 7, 2006, it established PocketFinder, LLC ("LLC"), a California Limited Liability Company. On May 29, 2007, PocketFinder, Inc. filed amended articles with the Secretary of State to change its name to Location Based Technologies, Corp.

Merger

On August 24, 2007, Location Based Technologies, Corp. merged with PocketFinder, LLC. The merger was approved by the shareholders of Location Based Technologies, Corp. and PocketFinder, LLC by unanimous written consent. Location Based Technologies, Corp. was the survivor of the merger with PocketFinder, LLC.

Each Class A Membership Unit of the LLC was converted into 150,000 shares of common stock of the Company or fraction thereof and each Class C Membership Unit of the LLC was cancelled. Upon consummation of the merger, 10.9 Class A Membership Units of the LLC were converted into 1,635,000 shares of common stock of the Company.

Stock Exchange Agreement

On October 11, 2007, Location Based Technologies, Corp. effected a stock exchange agreement and plan of reorganization (the "Agreement") with Springbank Resources, Inc. ("SRI") whereby SRI acquired all

of the issued and outstanding shares of Location Based Technologies, Corp. in exchange for shares of SRI's common stock.

Subject to the terms and conditions of the Agreement, SRI issued, and the stockholders of Location Based Technologies, Corp. accepted 55,153,500 shares of SRI's common stock in consideration for all of the issued and outstanding shares of Location Based Technologies, Corp. The shares of SRI's common stock

were allocated to the shareholders of Location Based Technologies, Corp. in accordance with the Agreement.

The former shareholders of Location Based Technologies, Corp. acquired control of SRI upon the closing of the stock exchange transaction. The exchange was accounted for as a reverse acquisition. Accordingly, for financial statement purposes, Location Based Technologies, Corp. was considered the accounting acquiror, and the related business combination was considered a recapitalization of Location Based Technologies, Corp. rather than an acquisition by SRI. The historical financial statements prior to the Agreement are those of Location Based Technologies, Corp., and the name of the consolidated company was changed to Location Based Technologies, Inc.

Consolidation Policy

The accompanying financial statements include the operations of the Company and its wholly owned subsidiary. Intercompany balances and transactions have been eliminated in consolidation.

Stock Split

All share and per-share amounts in the accompanying financial statements, unless otherwise indicated, have been retroactively restated to reflect a 3 for 1 stock split approved by the Board in October 2008, as if the split had been in effect since inception.

The state of incorporation or registration of the issuer and of each of its predecessors (if any) during the past five years; Please also include the issuer's current standing in its state of incorporation (e.g. active, default, inactive):

Nevada - active.

Describe any trading suspension orders issued by the SEC concerning the issuer or its predecessors since inception:

NoneList any stock split, stock dividend, recapitalization, merger, acquisition, spin-off, or reorganization either currently anticipated or that occurred within the past 12 months:

None

The address(es) of the issuer's principal executive office:

7545 Irvine Center Dr. Ste 200

Irvine, CA 92618

The address(es) of the issuer's principal place of business:

Check box if principal executive office and principal place of business are the same address: ☒

Has the issuer or any of its predecessors been in bankruptcy, receivership, or any similar proceeding in the past five years?

Yes: ☐

No: ☒

If this issuer or any of its predecessors have been the subject of such proceedings, please provide additional details in the space below:

2)Security Information

Trading symbol:

Exact title and class of securities outstanding: CUSIP:

Par or stated value:

LBAS Common Stock 539573105 $0.001

Total shares authorized: Total shares outstanding:

Number of shares in the Public Float:2 Total number of shareholders of record:

450,000,000 as of date: July 10, 2015

368,197,656 as of date: Feb 28, 2022

169,367,842 as of date: Feb 28, 2022 165 as of date: Feb 28, 2022

All additional class(es) of publicly traded securities (if any): None

2 "Public Float" shall mean the total number of unrestricted shares not held directly or indirectly by an officer, director, any person who is the beneficial owner of more than 10 percent of the total shares outstanding (a "control person"), or any affiliates thereof, or any immediate family members of officers, directors and control persons.

Trading symbol:

Exact title and class of securities outstanding: CUSIP:

Par or stated value: Total shares authorized: Total shares outstanding:as of date: as of date:Transfer Agent

Name: Broadridge Financial Solutions, Inc. Phone: [phone]

Email:[e-mail]

Address: 2 Gateway Center| 283 -299 Market Street, 15th Floor | Newark, NJ 07102

Is the Transfer Agent registered under the Exchange Act? 3 Yes: ☒

No: ☐

3)Issuance History

The goal of this section is to provide disclosure with respect to each event that resulted in any direct changes to the total shares outstanding of any class of the issuer's securities in the past two completed fiscal years and any subsequent interim period.

Disclosure under this item shall include, in chronological order, all offerings and issuances of securities, including debt convertible into equity securities, whether private or public, and all shares, or any other securities or options to acquire such securities, issued for services. Using the tabular format below, please describe these events.

A. Changes to the Number of Outstanding Shares

Check this box to indicate there were no changes to the number of outstanding shares within the past two completed fiscal years and any subsequent periods: ☒

Shares Outstanding as of Second

Most Recent Fiscal Year End:

*Right-click the rows below and select "Insert" to add rows as needed.

Opening

Balance

Date September 1, 2020

Common: 368,197,656

Preferred: 0

Number of Shares Issued (or cancelled)

Class of Securities

Reason for share issuance (e.g. for cash or debt conversion) -OR-Restricted or Unrestricte d as of this filing.

Exemption or Registratio n Type.

3 To be included in the Pink Current Information tier, the transfer agent must be registered under the Exchange Act.

returned to treasury)share) at Issuanceprice at the time of issuance? (Yes/No)voting / investment control disclosed).

Nature of Services Provided

Shares Outstanding on Date of This Report:

Ending

Balance Ending Balance:

Date Feb 28, 2022

Common: 368,197,656

Preferred: 0

Example: A company with a fiscal year end of December 31st, in addressing this item for its quarter ended June 30, 2021, would include any events that resulted in changes to any class of its outstanding shares from the period beginning on January 1, 2019 through June 30, 2021 pursuant to the tabular format above.

Use the space below to provide any additional details, including footnotes to the table above:

None

B. Debt Securities, Including Promissory and Convertible Notes

Use the chart and additional space below to list and describe all outstanding promissory notes, convertible notes, convertible debentures, or any other debt instruments that may be converted into a class of the issuer's equity securities.

Check this box if there are no outstanding promissory, convertible notes or debt arrangements: ☐

Outstandi ng Balance ($)

Principal Amount at Issuance ($)

Name of Noteholder (entities must have individual with voting / investment