VirExit Technologies : Financials for quarter ended 2/28/22

VIREXIT TECHNOLOGIES, INC. Formerly Known as: POVERTY DIGNIFIED, INC.

CONSOLIDATED BALANCE SHEETS

Unaudited

ASSETS

Current assets

February 28, 2022

August 31, 2021

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	$	90,400$	77,052
Notes payable - related party	1,129,381	1,114,207
Accrued payroll expenses	1,332,486	1,231,695
Due to officer	62,761	20,000
Accrued interest	197,465	169,543
Other liabilities	411,361	411,361
Convertible note payable	20,000	-
Total current liabilities	3,243,854	3,023,858
Total liabilities	3,243,854	3,023,858
Stockholders' equity (deficit):
Common stock par value $.0001: unlimited shares authorized;
2,623,304,515 and 2,607,054,515 shares issued and outstanding as of
February 28, 2022 and August 31, 2021, respectively	2,623,311	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 February 28,
2022 and August 31, 2021, respectively	1,000	1,000
Series K preferred stock par value $.001, 2,000,000 shares authorized,
1,100,000 and 1,100,000 shares issued and outstanding as of February 28,
2022 and August 31, 2021, respectively	1,100	1,100
Additional paid in capital - common shares	13,158,410	13,109,660
Additional paid in capital - preferred shares	16,830	16,830
Accumulated deficit	(19,037,491)	(18,750,798)
Total stockholders' equity (deficit)	(3,236,840)	(3,015,147)
Total liabilities and stockholders' equity (deficit)	$	7,014$	8,711

For the Three and the Six Months Ended February 28, 2022 and 2021

Operating revenue

Revenue

Operating expense

Advertising

Bank charges

Office expense

Payroll, taxes and benefits

Professional fees

Stock based compensation

Travel and auto

Utility

Total general and administrative

Net operating loss

Other income (expense)

Interest expense

Interest income

Loss on purchase of asset

	-$	-$	-$
16,484	686	29,862
320	499	519
1,040	854	1,983
75,000	75,000	150,000
29,162	69,423	64,312
-	-	-
278	1,848	11,058
518	1,143	1,037
122,802	149,453	258,771
(122,802)	(149,453)	(258,771)
(14,033)	(17,509)	(27,922)
-	2,356	-
-	-	-
Loss on valuation of derivative liabilities	-	(27,001,918)	-
Total other income (expense)	(14,033)	(27,017,071)
(136,835)$	(27,166,524)$

$

Net loss

$

VIREXIT TECHNOLOGIES, INC. Formerly Known as: POVERTY DIGNIFIED, INC. CONSOLIDATED STATEMENTS OF OPERATIONSUnauditedThree Months Ended February 28,

2022

2021

Six Months Ended February 28,2022

(27,922

-

2,135

(35,294)

)

(286,693)$

2021

2,686

769

2,209

150,000

85,103

100,000

15,046

357,948

(357,948)

4,739

(50,000)

(27,233,783)

(27,233,783

)

(27,672,286)

VIREXIT TECHNOLOGIES, INC.

Formerly Known as: POVERTY DIGNIFIED, INC. Consolidated Statements of Changes in Stockholders' Equity (Deficit)

For the Six Months Ended February 28, 2022

Preferred Stock

Unaudited

Common StockShares

Amount

Paid in	Paid in	Accumulated
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
Net loss	-	-	-	-	-	-	(286,693)	(286,693)
Balances at February 28, 2022	2,100,000	$	2,100	$	16,830	2,623,304,515	$	2,623,311	$	13,158,410	$	(19,307,491)	$	(3,236,840)

)

)

)

VIREXIT TECHNOLOGIES, INC
Formerly Know as: POVERTY DIGNIFIED, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Six Months Ended February 28, 2021 and 2020
Six Months Ended February 28,
2022	2021
Cash Flows From Operating Activities
Net loss from operations	$	(286,693	)	$	(27,672,286	)
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
Gain (loss) on derivative liability	-	27,233,783
Common stock issued as deposit for anticipated acquisition	-	(500	)
Changes in operating assets and liabilities:
Accounts payable	13,348	7,212
Accrued payroll expenses	100,791	56,317
Accrued interest	27,922	35,294
Net cash used in operating activities	(144,632	)	(240,180	)
Cash Flows From Investing Activities
Loans to outside parties	-	(4,039	)
Acquisition of fixed assets	-	50,000
Net cash used In investing activities	-	45,961
Cash Flows From Financing Activities
Proceeds from convertible debt	20,000	-
Proceeds (Payments) from related party advances	57,935	(16,354	)
Proceeds from sale of common stock	65,000	541,300
Net cash provided by financing activities	142,935	524,946
Net decrease in cash	(1,697	)	330,727
Cash - beginning of period	1,697	46,934
Cash - end of period	$	-	$	377,661

VIREXIT TECHNOLOGIES, INC

Formerly Known as: POVERTY DIGNIFIED, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

February 28, 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.

VirExit is looking to launch its proprietary wellness, health and safety portal, entitled The VLife. The portal focuses on both corporations and consumers. Experts on this heavily content-driven site will address numerous aspects of today's greatest challenges: returning to work safely, maintaining a mindful and productive state, and the effective exercising of safety precautions. The website, called The VLife (www.thevlife.net), will focus on a variety of areas where many of the current and soon-to-be products on the SaferPlace Market will work in tandem with the content. We have designed a full-service program, with high value content including video blogs, designed to promote wellbeing, productivity, and creativity. The portal is the second phase of VirExit's three-pronged approach to the future. We will be announcing our third offering shortly. Watch closely for snapshots from our advisory board and learn how these experts are changing each of their industries for the better post-pandemic.

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 six months ended February 30, 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 February 28, 2022, the Company had cash of $0, a working