THERMAFRZ : Thermafreeze 06.30.22 Financial Statement Q2 2022

ThermaFreeze Products Corporation and Subsidiary

CONSOLIDATED BALANCE SHEETS - UNAUDITED

		June 30,	December 31,
		2022		2021
ASSETS
Current Assets
Cash	$	3,521	$	2,286
Accounts Receivable, net		5,135		5,135
Inventory		353		353
Total Current Assets		9,009		7,774
Property and Equipment, net		7,177		7,177
Total Assets	$	16,186	$	14,951
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities
Accounts Payable	$	8,080	$	8,080
Interest Payable - Stockholder Loans		41,782		41,782
Accrued Expenses and Other Current Liablilites		2,021,780		2,009,280
Stockholder Loans		123,576		73,959
Total Current Liabilities		2,195,218		2,133,101
Total Liabilities		2,195,218		2,133,101
Stockholders' Deficit
Preferred Stock - $0.001 Par; 10,000,000 Shares Authorized,
51 Issued and Outstanding, Respectively		1		1
Common Stock - $0.001 Par; 60,000,000 Shares Authorized,
42,616,973 Issued and Outstanding, Respectively		42,617		42,617
Additional Paid-In-Capital		7,911,790		7,911,790
Accumulated Deficit		(10,133,440)		(10,072,558)
Total ThermaFree Products Corporation Stockholders' Deficit		(2,179,032)		(2,118,150)
Non-Controlling Interest		-		-
Total Stockholder's Deficit		(2,179,032)		(2,118,150)
Total Liabilities and Stockholders' Deficit	$	16,186	$	14,951

- 1 -

ThermaFreeze Products Corporation and Subsidiary

CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED

For the Six Months Ended June 30,		2022		2021
Sales	$	-	$	97,794
Cost of Sales		-		22,945
Gross Profit		-		74,849
Operating Expenses
Selling, General and Administrative		60,882		95,738
Loss from Operations Before Interest Expense		(60,882)		(20,889)
Interest Expense		-		145
Net Loss for the Period	$	(60,882)	$	(21,034)
Weighted Average Number of Common Shares -
Basic and Diluted		42,616,973		42,616,973
Net Loss for the Period Per Common Shares -
Basic and Diluted	$	(0.00)	$	(0.00)

- 2 -

ThermaFreeze Products Corporation and Subsidiary

CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

For the Six Months Ended June 30,		2022		2021
Cash Flows from Operating Activities
Net Loss for the Period	$	(60,882)	$	(21,034)
Changes in Assets and Liabilities:
Accounts Receivable		-		46,725
Inventory		-		3,543
Accounts Payable		-		-
Accrued Interest Payable		-		(94,355)
Accrued Expenses		12,500		75,000
Net Cash Flows Provided by (Used in) Operating Activities		(48,382)		9,879
Cash Flows from Investing Activities		-		-
Cash Flows from Financing Activities
Cash (Paid on) Received from Shareholder Loans, net		49,617		(7,621)
Net Cash Flows Provided by (Used in) Financing Activities		49,617		(7,621)
Net Change in Cash		1,235		2,258
Cash - Beginning of Period		2,286		582
Cash - End of Period	$	3,521	$	2,840
Cash Paid During the Period for:			$	-
Interest	$	-
Income Taxes	$	-	$	-

ThermaFreeze Products Corporation and Subsidiary

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT FOR THE SIX MONTHS ENDED JUNE 30, 2022 AND 2021 - UNAUDITED

Preferred Stock - A		Common Stock		Additional				Non -		Total
$ 0.001 Par		$ 0.001 Par		Paid-In		Accumulated		Controllig	Stockholders'
Shares		Amount	Shares	Amount		Capital		Deficit		Interest		Deficit
Balance - January 1, 2021	51	$	1	42,616,973	$ 42,617	$	7,911,790	$	(10,005,823)	$	-	$	(2,051,415)
Net Loss for the Period	-		-	-	-		-		(21,034)		-		(21,034)
Balance - June 30, 2021	51	$	1	42,616,973	$ 42,617	$	7,911,790	$	(10,026,857)	$	-	$	(2,072,449)
Preferred Stock - A		Common Stock		Additional				Non -		Total
$ 0.001 Par		$ 0.001 Par		Paid-In		Accumulated		Controllig	Stockholders'
Shares		Amount	Shares	Amount		Capital		Deficit		Interest		Deficit
Balance - January 1, 2022	51	$	1	42,616,973	$ 42,617	$	7,911,790	$	(10,072,558)	$	-	$	(2,118,150)
Net Loss for the Period	-		-	-	-		-		(60,882)		-		(60,882)
Balance - June 30, 2022	51	$	1	42,616,973	$ 42,617	$	7,911,790	$	(10,133,440)	$	-	$	(2,179,032)

ThermaFreeze Products Corporation and Subsidiary

STATEMENTS OF CHANGES IN STOCKHOLDERS' (DEFICIT) EQUITY FOR THE YEARS ENDED DECEMBER 31, 2020 and 2019

	Common Stock		Preferred Stock - A		Additional
	$0.001 Par		$ 0.001 Par		Paid-In	Accumulated
	Shares	Amount	Shares	Amount		Capital		Deficit
Balance - January 1, 2019	15,261,718	$ 15,262			$	729,756	$	(715,214)
Capital Contributions - Directors	-		-				47,886		-
Common Stock Issued for Product Payment	8,870		9				16,147		-

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