Supernova Energy : Amended Financial Statements Q1 2022

SUPERNOVA ENERGY, INC.

Symbol: SPRN

CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

For the

Quarter Ended March 31, 2022

Fiscal Year: 12/31

Address:

265 Sunrise Hwy, Suite 1-276 Rockville Centre, New York 11570

1

Contents	Page
SUPERNOVA ENERGY, INC	3
Unaudited Condensed Consolidated Balance Sheets	3
Unaudited Condensed Consolidated Statements of Operations	4
Unaudited Condensed Consolidated Statements of Stockholders' Equity	5
Unaudited Condensed Consolidated Statements of Cash Flows	6
Notes to the Unaudited Condensed Consolidated Financial Statements	7

2

SUPERNOVA ENERGY, INC.
Condensed Consolidated Balance Sheets
(Unaudited)
			March 31,		December 31,
			2022		2021
ASSETS
Current Assets
Cash and cash equivalents	$		5,209	$	29,390
Accounts receivable			-		100,000
Prepaid expenses			152,562		-
Prepaid acquisition costs			-		29,000
Other receivable			293		-
Total Current Assets			158,064		158,390
Property and Equipment
Oil and gas properties (full cost method)
Proved			986,897		922,897
Unproved			546,325		546,325
Support equipment			1,142,631		267,631
Total property, plant and equipment			2,675,853		1,736,853
Accumulated depletion, depreciation, and impairment			(1,727,949)		(1,636,853)
Total oil and gas properties, net			947,904		100,000
TOTAL ASSETS	$		1,105,968	$	258,390
LIABILITIES & SHAREHOLDERS' DEFICIT
Current Liabilities
Accounts payable and accrued expenses			1,020,851		613,882
Accounts payable and accrued expenses, related parties			88,251		88,013
Notes payable			634,000		624,000
Convertible note payable, net of unamortized discounts of $0 and $0			217,840		217,840
Notes payable - related parties			36,000		36,000
Derivative liabilities			51,075		65,476
Total Current Liabilities			2,048,017		1,645,211
Long-term liabilities
Notes payable -noncurrent			542,000		-
Asset retirement obligations, net			157,752		157,752
TOTAL LIABILITIES			2,747,769		1,802,963
SHAREHOLDERS' DEFICIT
Preferred stock, 25,000,000 total preferred shares authorized at par value of
$0.0001			10		10
Series A Convertible Preferred Stock designated at par value of $0.0001;
185,000 and 185,000 shares issued and outstanding, respectively			18		18
Series B Preferred Stock 25,000 shares designated at par value of $0.0001;
25,000 and 25,000 shares issued and outstanding, respectively			3		3
Common stock, 3,000,000,000 shares authorized at par value of $0.0001;
331,798,754 and 314,980,572 shares issued and outstanding, respectively			33,180		31,498
Additional paid-in capital			3,981,719		3,764,765
Accumulated deficit			(5,639,666)		(5,340,867)
Equity attributable to shareholders of the company			(1,624,736)		(1,544,573)
Non-controlling interest - related party			(17,065)		-
TOTAL SHAREHOLDERS' DEFICIT			(1,641,801)		(1,544,573)
TOTAL LIABILITIES & SHAREHOLDERS' DEFICIT	$		1,105,968	$	258,390

3

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

SUPERNOVA ENERGY, INC.

Condensed Consolidated Statements of Operations

(Unaudited)

		Three Months Ended
		March 31,
		2022			2021
REVENUES
Revenue	$	456	$		400
Revenue-related party		344			-
TOTAL REVENUES		800			400
OPERATING EXPENSES
Depletion, depreciation, amortization and accretion expense		91,096			30,000
Professional fees		105,428			(1,949)
General and administrative expenses		71,426			7,528
TOTAL OPERATING EXPENSES		267,950			35,579
Loss from Operations		(267,150)			(35,179)
OTHER INCOME (EXPENSES)
Change in fair value of derivative liabilities		14,401			-
Loss on settlement of debt		(33,636)			-
Impairment loss		(11,151)			-
Interest expense		(18,328)			(9,541)
Total other income (expenses)		(48,714)			(9,541)
NET LOSS		(315,864)			(44,720)
NET LOSS ATTRIBUTABLE TO:
Common Shareholders		(298,799)			(44,720)
Non-controlling interest - related party		(17,065)			-
NET LOSS PER SHARE, BASIC AND DILUTED	$	(0.00)	$		(0.00)
WEIGHTED AVERAGE SHARES OUTSTANDING, BASIC AND
DILUTED		321,633,919			126,980,572

4

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

SUPERNOVA ENERGY, INC.

Condensed Consolidated Statements of Stockholders' Equity

(Unaudited)

																	Additional						Total
																			Accumulate				Stockholder'
	Preferred Stock		Series A Preferred Stock		Series B Preferred Stock		Common Stock		Paid in		d		NCI		s
																					Related
	Shares		Amount		Shares		Amount		Shares		Amount		Shares		Amount		Capital		Deficit		Party		Deficit
Balance - December 31, 2020	98,800	$	10	185,000	$	18	25,000	$	3	126,980,572	$	12,698	$	3,764,765	$	(5,189,854)	$	-	$	(1,412,360)
Net loss	-		-		-		-		-		-		-		-		-		(44,720)				(44,720)
Balance - March 31, 2021	98,800		10	185,000		18	25,000		3	126,980,572		12,698		3,764,765		(5,234,574)	$	-		(1,457,080)
Balance - December 31, 2021	98,800	$	10	185,000	$	18	25,000	$	3	314,980,572	$	31,498	$	3,764,765	$	(5,340,867)			$	(1,544,573)
Common stock issued for services	-		-	-		-	-		-	16,818,182		1,682		216,954		-				218,636
Non-controlling interest - related
party																					(17,065)		(17,065)
Net loss	-		-		-		-		-		-		-		-		-		(298,799)				(298,799)
Balance - March 31, 2022	98,800	$	10	185,000	$	18	25,000	$	3	331,798,754	$	33,180	$	3,981,719	$	(5,639,666)	$	(17,065)	$	(1,624,736)

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