VirExit Technologies : Financials for Quarter ended 5/31/22

VIREXIT TECHNOLOGIES, INC.

Formerly Known as: POVERTY DIGNIFIED, INC.

CONSOLIDATED BALANCE SHEETS

Unaudited

				May 31, 2022				August 31, 2021
	ASSETS
	Current assets
	Cash		$	-			$	1,697
	Notes receivables, including $14,444 and $14,444 of accrued interest and
	penalties less $14,019 allowance for bad debts			7,014				7,014
	Total current assets			7,014				8,711
	Total assets		$	7,014			$	8,711
	Current liabilities
	Accounts payable		$	166,032			$	77,052
	Notes payable - related party			1,129,381				1,114,207
	Accrued payroll expenses			1,407,486				1,231,695
	Due to officer			67,546				20,000
	Accrued interest			211,936				169,543
	Other liabilities			411,361				411,361
	Convertible note payable			18,500				-
	Total current liabilities			3,412,242				3,023,858
	Total liabilities			3,412,242				3,023,858
	Stockholders' equity (deficit):
	Common stock par value $.001: unlimited shares authorized;
	2,623,994,170 and 2,607,054,515 shares issued and outstanding as of
	May 31, 2022 and August 31, 2021, respectively			2,624,001				2,607,061
	Series E preferred stock par value $.001:10,000,000 shares authorized;
	1,000,000 and 1,000,000 shares issued and outstanding as of May 31,
	2022 and August 31, 2021, respectively			1,000				1,000
	Series K preferred stock par value $.001, 2,000,000 shares authorized,
	1,600,000 and 1,100,000 shares issued and outstanding as of May 31, 2022
	and August 31, 2021, respectively			1,600				1,100
	Additional paid in capital - common shares			13,159,720				13,109,660
	Additional paid in capital - preferred shares			17,830				16,830
	Accumulated deficit			(19,209,379	)			(18,750,798	)
	Total stockholders' equity (deficit)			(3,405,228	)			(3,015,147	)
	Total liabilities and stockholders' equity (deficit)		$	7,014			$	8,711

VIREXIT TECHNOLOGIES, INC.

Formerly Known as: POVERTY DIGNIFIED, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

For the Three and the Nine Months Ended May 31, 2022 and 2021

Unaudited

			Three Months Ended May 31,				Nine Months Ended May 31,
			2022				2021					2022						2021
Operating revenue
Revenue		$	-			$	-				$	-					$	-
Operating expense
Advertising			3,551				94,857					33,413						97,542
Bank charges			230				302					750						1,072
Office expense			1,299				1,600					3,281						3,809
Payroll, taxes and benefits			75,000				75,000					225,000						224,010
Professional fees			75,124				96,154					139,436						181,258
Stock based compensation			-				-					1,500						100,000
Travel and auto			40				11,574					11,098						26,619
Utility			172				1,037					1,210						3,172
Total general and administrative			155,416				280,524					415,688						637,482
Net operating loss			(155,416	)			(280,524		)			(415,688		)			(637,482		)
Other income (expense)
Interest expense			(14,471	)			(18,597		)			(42,393			)			(53,891			)
Interest income			-				2,409					-					7,147
Loss on purchase of asset			-				-				-
Gain (Loss) on extinguishment of debt			(500	)			64,863					(500		)			64,863
Gain (Loss) on valuation of derivative																				)
liabilities			-				23,044,843					-					(4,188,940
Total other income (expense)			(14,971	)			23,093,518					(42,893			)			(4,170,821			)
Net loss		$	(170,387	)		$	22,812,994				$	(458,581		)		$	(4,808,303		)

VIREXIT TECHNOLOGIES, INC.

Formerly Known as: POVERTY DIGNIFIED, INC.

Consolidated Statements of Changes in Stockholders' Equity (Deficit)

For the Nine Months Ended May 31, 2022

Unaudited

		Preferred Stock	Common Stock
								Paid in							Paid in		Accumulated
		Shares	Amount			Capital	Shares		Amount			Capital			Deficit			Total
Balances at August 31, 2021		2,100,000		$	2,100		$	16,830		2,607,054,515		$	2,607,061		$	13,109,660		$	(18,750,798	)	$	(3,015,147	)
Stock issued for:
Cash		-			-			-		16,250,000			16,250			48,750			-			65,000

Common stock issued for
extinguishment of debt	-
Preferred stock issued for services	500,000

Net loss

-

- -

500 1,000

-

-

689,655	690	1,310	-	2,000
-	-	-	-	1,500

-

-

-

(458,581)

(458,581)

Balances at May 31, 2022	2,600,000	$	2,600	$	17,830	2,623,994,170	$	2,624,001	$	13,159,720	$	(19,209,379)	$	(3,405,228)

VIREXIT TECHNOLOGIES, INC

Formerly Known as: POVERTY DIGNIFIED, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

For the Nine Months Ended May 31, 2022 and 2021

				Nine Months Ended May 31,
			2022					2021
	Cash Flows From Operating Activities
	Net loss from operations		$		(458,581	)		$	(4,808,303	)
	Adjustments to reconcile net loss from continuing operations to net cash used in
	operating activities - continuing operations:
	Common stock issued for services and wages				-				100,000
	Preferred stock issued for services				1,500				-
	Common stock issued for convertible debt settlement				2,000				297,630
	Gain (loss) on derivative liability				-				3,910,223
	Common stock issued as deposit for anticipated acquisition				-				(700	)
	Changes in operating assets and liabilities:
	Accounts payable				88,980				(14,485	)
	Accrued payroll expenses				175,791				45,627
	Accrued interest				42,393				36,234
	Net cash used in operating activities				(147,917	)			(433,774	)
	Cash Flows From Investing Activities
	Loans to outside parties				-				(7,146	)
	Deposit for anticipated acquisition				-				700
	Net cash used In investing activities				-				(6,446	)
	Cash Flows From Financing Activities
	Proceeds from convertible debt				20,000				-
	Payments on convertible debt				(1,500	)			(67,200	)
	Proceeds (Payments) from related party advances				62,720				25,950
	Proceeds from sale of common stock				65,000				541,500
	Net cash provided by financing activities				146,220				500,250
	Net decrease in cash				(1,697	)			60,030
	Cash - beginning of period				1,697				46,934
	Cash - end of period		$		-			$	106,964

VIREXIT TECHNOLOGIES, INC

Formerly Known as: POVERTY DIGNIFIED, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

May 31, 2022

NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION

VirExit Technologies, Inc. ("VirExit" or "the Company") (Formerly known as: Poverty Dignified, Inc.) was incorporated in the State of Nevada on September 27, 2013 and became registered in Wyoming on October 4, 2019. As of March 11, 2021 the Company changed its name to VirExit Technologies, Inc. from Poverty Dignified, Inc. The Company is headquartered in Richland, Washington. The Company was established as a renewable energy company, incubating solar technologies to establish electrification, education, connectivity, and media distribution infrastructures in rural communities across the globe to empower the individual, community, and local economy. My Power Solutions, Inc., a wholly-owned subsidiary of VirExit, was incorporated in the State of Nevada on March 13, 2014 as a franchise business opportunity with Franchise Disclosure Documents for franchise sales in both the United States and South African markets. Africhise, Inc., a wholly-owned subsidiary of VirExit is a Delaware Corporation, was formed on August 28, 2015 to be the franchise management arm of My Power Solutions, Inc's franchise operations in Africa. My Power Solutions Bahamas, Inc., a wholly-owned subsidiary of My Power Solutions, Inc., is a Delaware Corporation, was formed on June 14, 2018 to establish itself as a renewable energy solutions company in the Bahamas. During the years ended August 31, 2020 and 2019, there was little activity in the subsidiaries. As of August 31, 2020 the Company consolidated all remaining activities of these entities into $411,361 Other Liabilities as all these activities have completely stopped and are no longer active.

During the fiscal year ending August 31, 2021, the Company acquired the registered brand, VirExit(r), VirExit.com, along with other related intellectual property owned and developed by marketing expert, Patrick Netter and the VirExit brand is to stand for innovative, effective, ethical and safe products within the antiviral space. The Company changed its name to VirExit Technologies, Inc. on March 11, 2021. During this same period the Company also purchased the intellectual property of Safer Place Technologies, LLC. to complement and whose purpose is to create a primary sales and marketing platform as a vertical on-line marketplace to provide a single source for buyers and sellers of protective products and services which resonate with the VirExit mission statement: Making the world a safer place with innovative, ethical and effective technologies. The Company is in negotiations regarding the possible purchase of Lexian Products, Inc. and their proprietary UV products.

Basis of Presentation

These consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for annual financial statements and with Form 10-K and article 8 of the Regulation S-X of the United States Securities and Exchange Commission ("SEC"). Under this basis of accounting, revenues are recorded as earned and expenses are recorded at the time liabilities are incurred.

The consolidated financial statements include the accounts of VirExit Technologies, Inc., My Power Solutions, Inc., Africhise, Inc., and My Power Solutions Bahamas, Inc. All significant intercompany accounts and transactions have been eliminated in consolidation. These entities are collectively referred to herein as VirExit, or the Company.

Par Value Change

A majority of the company's shareholders voted on October 4, 2019 to amend the company's certificate of incorporation to increase the par value of its common stock to $0.001 from $0.0001. Due to this change $14,625 and $356,796 was shifted from the Additional Paid-in Capital account to the Common Stock account for the nine months ended May 31, 2022, and the year ending August 31, 2021, respectively.

NOTE 2 - GOING CONCERN AND PLAN OF OPERATION

Going Concern

The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As of May 31, 2022, the Company had cash of $0, a working capital deficit of $3,405,228 and a stockholders' deficit of $3,405,228. The Company has incurred net losses from start-up costs and minimal operations since inception to May 31, 2022 and has ceased operations of its subsidiary, My Power Solutions, Inc. in South Africa, Africhise,