The following discussion and analysis should be read in conjunction with our financial statements and related notes included elsewhere in this quarterly report on Form 10-Q. This discussion and other parts of this quarterly report on Form 10-Q contain forward-looking statements based upon current expectations that involve risks and uncertainties. Our actual results and the timing of selected events could differ materially from those anticipated in these forward-looking statements as a result of several factors, including those set forth under "Risk Factors" and elsewhere in this quarterly report on Form 10-Q. We report financial information under US GAAP and our financial statements were prepared in accordance with generally accepted accounting principles in the United States.

In 2018, Easton's board of directors decided to diversify the Company's activities and enter new market segments, in addition to its existing and new pharmaceutical business and initiatives, including real estate development and construction, food and beverage, gaming and cannabis, through a combination of strategic acquisitions and joint ventures.

On December 23, 2020, the Company changed its name from Easton Pharmaceuticals, Inc. to Parallel Industries Inc. The Company will be rebranding and believes that the new name is more representative of the direction in which the Company will be heading in the future.

The Company had no new business initiatives during the quarter ended March 31, 2021.

Results of Operations

The following discussions are based on our unaudited interim financial statements. These discussions summarize our unaudited interim financial statements for the three-month period ended March 31, 2021, and should be read in conjunction with the Company's financial statements for the year ended December 31, 2020 and notes thereto included in the Form 10-K filed with the SEC.

The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to those discussed below and elsewhere in this Quarterly Report on Form 10-Q. The financial statements are stated in United States Dollars and are prepared in accordance with United States Generally Accepted Accounting Principles.

Three-Month Period Ended March 31, 2021 Compared to the Year Ended December 31, 2020

Revenue. We did not generate revenues for the quarter ended March 31, 2021 or for the comparable period in 2020. Following the false allegations made against the Company and its director, we were unable to secure funding and therefore we were unable to resume activities/

Operating expenses: During the quarter ended March 31, 2021, we incurred operating expenses in the amount of $96,572 compared to operating expenses incurred during quarter ended March 31, 2020 of $46,315.

Net loss. The Company had a net loss of $96,572 for three months ended March 31, 2021 compared to a net loss of $46,315 for the year ended December 30, 2020.

Going Concern Uncertainty

We did not have any revenues in 2020 or for the quarter ended March 31, 2021. There is no certainty as to the continuance of our revenues. The development and commercialization of our other products, which are necessary for our long-term financial health, are expected to require substantial further expenditures. We remain dependent upon external sources for financing our operations. Since inception, we have incurred substantial accumulated losses, negative working capital, and negative operating cash flow, and have a significant shareholders' deficit. These factors raise substantial doubt about our ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. We plan to finance our operations through the sale of equity and, to the extent available, short term and long-term loans. There can be no assurance that we will succeed in obtaining the necessary financing to continue our operations.

Liquidity and Capital Resources

As at March 31, 2021, we had no current assets and our current liabilities were $81,000.

Cash Flows from Operating Activities

We have generated negative cash flows from operating activities. For the three months ended March 31, 2021, net cash flows used in operating activities was ($78,572) compared to ($43,415) for the year ended December 31, 2020.

Cash Flows from Investing Activities

We used approximately $18,797 in investing activities during the three months ended March 31, 2021 and for the year ended December 30, 2020.

Cash Flows from Financing Activities

We did not have any cash flows from Financing Activities.

Off-Balance Sheet Arrangements

There were no off-balance sheet arrangements during the three months ended March 31, 2021 that have, or are reasonably likely to have, a current or future effect on our financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to our interests.

Plan of Operation

As at March 31, 2021, we had a working capital deficit and we will require additional financing in order to enable us to proceed with our plan of operations.

When we will require additional financing, there can be no assurance that additional financing will be available to us or that it can be obtained on commercially reasonable terms. If we are not able to obtain the additional financing on a timely basis, we will not be able to meet our other obligations as they become due. We are pursuing various alternatives to meet our immediate and long-term financial requirements.

We anticipate continuing to rely on equity sales of our common stock in order to fund our business operations. Issuances of additional shares will result in dilution to existing stockholders. There is no assurance that we will achieve any additional sales of equity securities or arrange for debt or other financing to fund our planned business activities.

Recent Accounting Pronouncements

There have been recent accounting pronouncements or changes in accounting pronouncements that impacted the three months ended March 31, 2021 or which are expected to impact future periods as follows:

In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments, which changes the impairment model for most financial assets. This Update is intended to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. The underlying premise of the Update is that financial assets measured at amortized cost should be presented at the net amount expected to be collected, through an allowance for credit losses that is deducted from the amortized cost basis. The allowance for credit losses should reflect management's current estimate of credit losses that are expected to occur over the remaining life of a financial asset. The income statement will be affected for the measurement of credit losses for newly recognized financial assets, as well as the expected increases or decreases of expected credit losses that have taken place during the period. The new standard is effective for fiscal years and interim periods within those years beginning after December 15, 2022.

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