Lotus Pharmaceuticals : Unaudited Financial Statements

FINANCIAL STATEMENTS

and Notes to Financial Statements

Lotus PharmaceuticaIs, Inc.

(A Developmental Stage Company)

For the Quarters Ending

September 30, 2021 and September 30, 2020

(UNAUDITED)

Prepared by:

TAX EXPERIENCE, LLC

Richard Moore, CPA

443.353.0358

Financial Statements - Lotus Pharmaceuticals, Inc.

For the Quarters Ending September 30, 2021

And September 30, 2020

(Unaudited)

Lotus Pharmaceuticals, Inc.

	Contents		Page
	Financial Statements:
	Balance Sheet at September 30, 2021 and September 30, 2020 (unaudited)	1
	Statements of Operations for quarter ending September 30, 2021	2
	And September 30, 2020 (unaudited)
	Statements of Cash Flows for the quarters ending September 30, 2021	3
	and September 30, 2020 (unaudited)
	Statements of Shareholder's Equity for quarters ending September 30, 2021	4
	and September 30, 2020 (unaudited)
	Notes to Financial Statements

Contents
Note 1. Organization, History and Business	...................................................................................................5
Note 2. Summary of Significant........................................................................................................................	6
Accounting.......................................................................................................................................................	6
Basis of Presentation...................................................................................................................................	6
Use of Estimates..........................................................................................................................................	6
Cash and Cash Equivalents........................................................................................................................	6
Policies Revenue Recognition.......................................................................................................................	7
Accounts Receivable.......................................................................................................................................	7
Allowance for Doubtful Accounts...............................................................................................................	7
Stock Based Compensation...........................................................................................................................	7
Loss per Share..................................................................................................................................................	8
Cash and Cash Equivalents............................................................................................................................	8
Concentration of Credit Risk.........................................................................................................................	8
Depreciation.....................................................................................................................................................	8

2

	Financial Statements - Lotus Pharmaceuticals, Inc.
	For the Quarters Ending September 30, 2021
	And September 30, 2020
	(Unaudited)
Use of Estimates..............................................................................................................................................	8
Business Segments...........................................................................................................................................	8
Income Taxes...................................................................................................................................................	9
Loss Per Common Share...........................................................................................................................	9
Fair Value of Financial Instruments.........................................................................................................	9
Derivative Financial Instruments............................................................................................................	10
Recent Accounting Pronouncements..........................................................................................................	10
Note 3. Depreciation..........................................................................................................................................	10
Note 4. Related Party Transactions.................................................................................................................	11
Note 5. Stockholders' Equity Common Stock...............................................................................................	11
Note 6. Commitments and Contingencies......................................................................................................	12
Note 7 - Net Income (Loss) Per Share.........................................................................................................	. 12
Note 8. Notes Payable.....................................................................................................................................	12
Note 9. Going Concern...................................................................................................................................	13
Note 10. Subsequent Events...........................................................................................................................	13

LOTUS PHARMACEUTICALS, INC.

(A DEVELOPMENTAL STAGE COMPANY)

BALANCE SHEET

FOR THE THREE MONTHS ENDING (UNAUDITED)

		SEPTEMBER 30
		2021			2020
ASSETS
Current Assets
Cash and Cash Equivalents		147			3
Accounts receivable		0			1,650
Total Current Assets		147			1,653
Fixed Assets
Fixed Assets (Net)		0
Intellectual Property		0
Total Fixed Assets		0
Start up Costs Capitalized		35,298			10,403
TOTAL ASSETS		$35,445			$12,056
LIABILITIES AND STOCKHOLDER'S EQUITY
Current Liabilities
Accounts Payable		0
Loans from Shareholders		57,274			33,885
Notes Payable		0
Total Current Liabilities		57,274			33,885
Long Term Liabilities		0			0
TOTAL LIABILITIES		57,274			33,885
Stockholder's Equity
Common Stock, par value $0.001
(3,000,000,000 Authorized, 2,944,515,543 issued)		2,944,515			2,944,515
Additional Paid-In Capital		(2,944,515)			(2,944,515)
Accumulated Earnings (Deficit)		(21,829)			(21,829)
Total Stockholder's Equity		(21,829)			(21,829)
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY	$	35,445	$	12,056

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

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LOTUS PHARMACEUTICALS, INC.

(A DEVELOPMENTAL STAGE COMPANY)

STATEMENT OF OPERATIONS

FOR THE THREE MONTHS ENDED

(UNAUDITED)

		SEPTEMBER 30
	2021		2020
Revenue	$	-	$	-
Operating Expenses		0
Net Incone (Loss) from Operations	$	-	$	-
Other Income
Debt Charge Off
Net Income (Loss) Before Inccome taxes	$	-	$	-
Tax Expense		0			0
Net Income	$	-		$	-
Basic Gain (Loss) Per Share	$	0.0000000	$	0.0000000
Fully Diluted Gain (Loss) Per Share	$	0.0000000	$	0.0000000
Weighted Avg No. of Shares Outstanding - Basic	2,944,515,543	2,944,515,543
Weighted Avg. No of Shares - fully diluted	52,944,515,543	52,944,515,543

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

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