SUPERNOVA ENERGY, INC.

Symbol: SPRN

FINANCIAL STATEMENTS (unaudited)

For the

Year Ended December 31, 2021

Fiscal Year: 12/31

Address:

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

Contents

Page

SUPERNOVA ENERGY, INC

3

Unaudited Condensed Balance Sheets

3

Unaudited Condensed Statements of Operations

4

Unaudited Condensed Statements of Stockholders' Equity

5

Unaudited Condensed Statements of Cash Flows

6

Notes to the Unaudited Condensed Financial Statements

7

SUPERNOVA ENERGY, INC.

Balance Sheets (Unaudited)

ASSETS

Current Assets

Cash and cash equivalents Accounts receivable Prepaid acquisition costs

Total Current Assets

Property and Equipment

Oil and gas properties (full cost method) Proved

Unproved

Support equipment

Total property, plant and equipment

Accumulated depletion, depreciation, and impairment Total oil and gas properties, net

TOTAL ASSETS

LIABILITIES & SHAREHOLDERS' DEFICIT

Current Liabilities

Bank overdraft

Accounts payable and accrued expenses

Accounts payable and accrued expenses, related parties Notes payable

Convertible note payable, net of unamortized discounts of $0 and $0 Notes payable - related parties

Derivative liabilities

Total Current Liabilities

Long-term liabilities

Asset retirement obligations, net TOTAL LIABILITIES

SHAREHOLDERS' DEFICIT

Preferred stock, 25,000,000 total preferred shares authorized at par value of $0.0001

Series A Convertible Preferred Stock designated at par value of $0.0001; 185,000 and 185,000 shares issued and outstanding, respectively

Series B Preferred Stock 25,000 shares designated at par value of $0.0001; 25,000 and 25,000 shares issued and outstanding, respectively

Common stock, 3,000,000,000 shares authorized at par value of $0.0001; 314,980,572 and 126,980,572 shares issued and outstanding, respectively

Additional paid-in capital Accumulated deficit

TOTAL SHAREHOLDERS' DEFICIT

TOTAL LIABILITIES & SHAREHOLDERS' DEFICITDecember 31, 2021

$

December 31, 2020

29,390 100,000 29,000 158,390

$

- - 29,000 29,000

922,897 822,897

546,325 546,325

267,631 267,631

1,736,853 (1,636,853)

100,000

$

1,636,853 (1,561,300)

75,553

258,390

$

104,553

$

-

$

9

613,882 569,996

88,013 78,490

624,000 624,000

217,840 25,000

36,000 20,000

65,476 41,666

1,645,211

157,752 1,802,963

1,359,161

157,752 1,516,913

10 10

18 18

3 3

31,498 3,764,765 (5,340,867) (1,544,573)

$

12,698 3,764,765 (5,189,854) (1,412,360)

258,390

$

104,553 3

SUPERNOVA ENERGY, INC.

Statements of Operations

(Unaudited)REVENUES

Revenue

Revenue-related party TOTAL REVENUES

OPERATING EXPENSES

Depletion, depreciation, amortization and accretion expense

Lease operating expenses

Professional fees

General and administrative expenses TOTAL OPERATING EXPENSES

Year Ended December 31,2021

$

2020

2,200 946

$

20,141 -

3,146 20,141

75,553 120,000

46,000

-97,771 3,300

43,758 31,026

263,082

154,326

Loss from Operations

OTHER INCOME (EXPENSES)

Change in fair value of derivative liabilities

Gain of sales of assets

Interest expense

Total other income (expenses)

(259,936)

(23,810) 175,000 (42,267) 108,923

(134,185)

25,794 - (38,207) (12,413)

NET LOSS

(151,013)

(146,598)

NET LOSS PER SHARE, BASIC AND DILUTED

$

(0.00)

$

(0.00)

WEIGHTED AVERAGE SHARES OUTSTANDING, BASIC AND DILUTED

203,199,750

119,627,147

SUPERNOVA ENERGY, INC. Statements of Stockholders' Equity

(Unaudited)

Preferred Stock

Series A Preferred Stock

Series B Preferred StockAdditional

TotalCommon Stock

Paid in

Accumulated

Stockholder'sShares

Amount

Shares

Amount

Shares

Amount

Shares

Amount

Capital

Deficit

DeficitBalance - December 31, 2018

98,800

$

10

125,000

12

25,000

$

3

115,980,572

  • $ 11,598

    • $ 3,740,771

      • $ (4,879,567)

        • $ (1,127,173)Issuance Series A Preferred stock in connection with lease and well acquisition

          Net loss

          Balance - December 31, 2019

          -

          - -60,000

          6

          -

          - -- -- -

          23,994

          24,000

          -

          (163,689)

          (163,689)

          98,800

          $

          10

          185,000

          $

          18

          25,000

          $

          3

          115,980,572

          $

          11,598

    • $ 3,764,765

      • $ (5,043,256)

        • $ (1,266,862)

          Debt converted to common stock

          Net loss

          Balance - December 31, 2020

          Common stock issued for cash - related

          party

          Debt converted to common stock

          Net loss

          Balance - December 31, 2021

          - - 98,800

          - -

          - -

          - -

          - -

          - -

          11,000,000

          1,100

          -

          -

    • - -

      • -

        (146,598)

        • 1,100

          (146,598)

          $

          10

          185,000

          $

          18

          25,000

          $

          3

          126,980,572

          $

          12,698

          - - - 98,800

    • $ 3,764,765

    • $ (5,189,854)

    • $ (1,412,360)

      - - -- - -- - -- - -

      - - -

      150,000,000 38,000,000

      15,000 - - 15,000

      3,800 - - 3,800

      -

      -

      -

      (151,013)

      (151,013)

      $

      10

      185,000

      $

      18

      25,000

      $

      3

      314,980,572

  • $ 31,498

$

3,764,765

$

(5,340,867)

  • $ (1,544,573)

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

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Supernova Energy Inc. published this content on 15 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 April 2022 19:10:02 UTC.