Overview

Sino American Oil Company (the "Company") is a development stage enterprise that was originally incorporated, on April 2, 2010, under the laws of the State of Nevada. The Company is in the Oil and Gas Exploration, Development and Production Business and has been since inception.

Sino American Oil Company plans to grow shareholder value through securing oil and natural gas reserves and negotiating oil and natural gas exploration, development and production deals within the United States of America and Canada. The focused industries are oil & gas exploration, oil & gas development, and oil & gas production sales. We anticipate being able to generate revenue on the sale of oil and gas.

Sino American Oil Company is currently negotiating deals within a very large exploration area oil field owners located in the Western Canadian sedimentary basin. The deals involve oil and gas production acquisitions, mineral land acquisitions and further production increases through production optimization and drilling activities as well as production infrastructure installations.

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Results of Operations for the Year Ended September 30, 2022, compared to the Year Ended September 30, 2021

We have not generated any revenue to date.

Officer compensation was $0 compared to $74,000, for the years ended September 30, 2022 and 2021, respectively. Officer compensation was accrued in the prior year for the former CEO.

Consulting expense was $200,000 compared to $386,237 for the years ended September 30, 2022 and 2021, respectively. We saw an increase in consulting expense in the prior year as the Company began to undertake activities in the oil and gas industry. Certain consultants that were used in the prior year have not provided services in the current year.

Consulting expense - related party was $90,000 compared to $150,365 for the years ended September 30, 2022 and 2021, respectively. In the current year we incurred consulting expense of $15,000 per month for services provided by Triage.

General and administrative expense ("G&A") was $153,912 compared to $126,042 for the years ended September 30, 2022 and 2021, respectively. G&A expense has increased in large part due to legal fees.

Interest expense was $3,122 compared to $2,095 for the years ended September 30, 2022 and 2021, respectively.

We had a net loss of $447,034 compared to $619,377, for the years ended September 30, 2022 and 2021, respectively.

Liquidity and Capital Resources

Cash flow from operations

Cash used in operating activities for year ended September 30, 2022 was $95,795 compared to $230,519 of cash used in operating activities for year ended September 30, 2021.





Cash Flows from Financing

For the year ended September 30, 2022, we received $63,937 from related party loans and $31,848 from other loans. In the prior year we received $20,000 from the sale of common stock, $42,886 from related party loans and $167,643 from other loans.

Outstanding loans as of September 30, 2022

On September 1, 2021, the Company entered into a loan agreement with Home Run Oil and Gas, Inc. ("Home Run"). Home Run loaned the company $114,103 ($150,000 CAD). The loan in non-interest bearing and is due on or before November 30, 2021. This loan is currently past due.

Off-Balance Sheet Arrangements

We have not entered into any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources and would be considered material to investors.

Critical Accounting Estimates and Policies

Refer to Note 2 of our financial statements contained elsewhere in this Form 10-K for a summary of our critical accounting policies and recently adopting and issued accounting standards.

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