REGI U S : Year End Financials

REGI U.S., INC.

An Oregon State Corporation

Financial Statements (Unaudited)

April 30, 2022 and 2021

REGI U.S., INC.

Years Ended April 30, 2022 and 2021

Table of Contents

Financial Statements (Unaudited)
Consolidated Balance Sheets ..........................................................................................................................	1
Consolidated Statements of Operations and Comprehensive Loss ................................................................	3
Consolidated Statements of Changes Stockholders' Equity............................................................................	4
Consolidated Statements of Cash Flows .........................................................................................................	5
Notes to the Consolidated Financial Statements ...........................................................................................	6

REGI U.S., INC.

CONSOLIDATED BALANCE SHEETS

April 30, 2022 and 2021 (unaudited)

Assets
Current assets		2022			2021
$	26,846
Cash and cash equivalents	$	20,030
Inventory		2,000			2,000
Prepaid expense		15,347			31,821
Deposit		7,500			7,500
Total current assets		51,693			61,351
Property and equipment, net		4,221			96,387
Total assets	$	55,914	$	157,738
Liabilities and Stockholders' Equity (Deficit)
Current liabilities		2022			2021
$	36,842
Accounts payable	$	40,569
Accounts payable ‐ related party		32,651			54,722
Accrued expenses		1,789,462			1,367,672
Accrued interest		456,077			198,117
Accrued interest ‐ related party		315,015			210,983
Due to related parties		138,303			139,251
Convertible promissory notes ‐ current portion, net of unamortized		936,313			915,956
discount of $0 and $9,691 respectively
Convertible promissory notes ‐ current portion, net of unamortized		811,741			821,238
discount of $0 and $1,232 respectively ‐ related party
Current portion of notes payable		7,042			22,015
Current portion of notes payable ‐ related party		250,000			250,000
Total current liabilities		4,773,446			4,020,523
Long term liabilities
RadWater R&D funding advance		135,015			135,015
Notes payable, net of current portion		8,441			65,885
Total long term liabilities		143,456			200,900
Total liabilities		4,916,902			4,221,423
Commitments and contingencies		‐			‐

See accompanying notes to the financial statements.

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REGI U.S., INC.

CONSOLIDATED BALANCE SHEETS (CONT'd)

April 30, 2022 and 2021 (unaudited)

Stockholders' equity (deficit)
Capital, Unlimited shares authorized, no par value, 122,533,953 and		25,611,884
121,767,953 shares issued and outstanding respectively				25,400,911
Accumulated other comprehensive income		(367,494)			(362,775)
Accumulated deficit		(30,160,161)			(29,156,604)
Total REGI US, Inc. stockholders' equity (deficit)		(4,915,771)			(4,118,468)
Non‐controlling interest		54,783			54,783
Total stockholders' equity (deficit)		(4,860,988)			(4,063,685)
Total liabilities and stockholders' equity (deficit)	$	55,914		$	157,738

See accompanying notes to the financial statements.

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REGI U.S., INC.

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

Years Ended April 30, 2022 and 2021 (unaudited)

		2022				2021
Revenue	$	83,700	$	60,330
Operating expenses		49,135
Accounting and legal					22,877
Compensation and consulting		614,025				535,753
Stockholder relations		17,364				16,570
Depreciation and amortization		7,875				34,213
General and administrative expenses		70,921				75,863
Research and development		11,180				111,735
Total operating expenses		770,500				797,011
Loss from operations		(688,212)				(740,825)
Other income (expenses)		(346,941)
Interest and financing expense					(102,754)
Interest expense, related party		(26,669)				(117,878)
Amortization of derivative and debt discount		(10,922)				(84,466)
Gain (loss) on sale of lab equipment		30,053				‐
Grant income		34,957				‐
SBA PPP loan forgiveness		‐				42,189
Miscellaneous income		4,177				‐
Gain on settlement of liability		‐				683
Total other income (expense)		(315,345)				(262,226)
Net loss before non‐controlling interest		(1,003,557)				(1,003,051)
Net loss attributable to non‐controlling interest		‐				‐
Net loss attributed to the Company	$	(1,003,557)		$	(1,003,051)
Loss per share ‐ basic and diluted	$	(0.00)		$	(0.01)
Weighted average number of common shares outstanding ‐ basic and	121,895,969	121,747,832
diluted
Comprehensive loss:	$	(1,003,557)
Net loss	$	(1,003,051)
Translation adjustments		(4,719)				‐
Comprehensive loss		(1,008,276)				(1,003,051)
Comprehensive loss attributable to non‐controlling interest		‐				‐
Comprehensive loss attributable to REGI U.S., Inc.	$	(1,008,276)			$	(1,003,051)

See accompanying notes to the financial statements.

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