Westbridge Energy : Financial statements of RTO acquirer

Georgetown Solar Inc

INTERIM FINANCIAL STATEMENTS

For the six months ended May 31, 2021 (Unaudited, Expressed in Canadian Dollars)

GEORGETOWN SOLAR INC

Interim Statements of Financial Position

Unaudited, expressed in Canadian Dollars

		May 31,	November 30,
		2021		2020
ASSETS
Current
Cash	$	320,033	$	-
Accounts receivable		1,000		1,000
GST receivable		-		825
Non-current
Right of use assets (Note 7)		28,690		32,994
TOTAL ASSETS	$	349,723	$	34,819
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities
Current
Accounts payable and accrued liabilities (Note 3)	$	110,604	$	21,143
Related party loan (Note 5)		40,678		17,750
Lease liabilities (Note 8)		10,662		9,974
Convertible loan (Note 5)		355,677		-
Non-current
Lease liabilities (Note 8)		6,934		6,934
Total liabilities		524,555		55,801
Shareholders' equity
Share capital (Note 4)		1,000		1,000
Retained earnings		(175,832)		(21,982)
Total shareholders' equity		(174,832)		(20,982)
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$	349,723	$	34,819

Nature and continuance of operations (Note 1)
Approved on behalf of the Board:
"Stefano Romanin"		"Margaret McKenna"
Stefano Romanin, Director	Margaret McKenna, Director

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

GEORGETOWN SOLAR INC

Interim Statements of Loss and Comprehensive Loss

Unaudited, expressed in Canadian Dollars

	For the three	For the six
	months ended,	months ended,
		May 31,		May 31,
		2021		2021
Operating expenses
Depreciation of right of use assets	$	2,152	$	4,304
Consultancy		78,150		92,459
Office and miscellaneous		2,183		2,183
Professional fees		48,179		48,179
Operating losses		130,664		147,125
Foreign exchange loss		360		360
Interest expense		6,020		6,365
Loss and comprehensive loss	$	137,044	$	153,850
Loss per share - basic and diluted	$ 13.70	$ 15.39
Weighted average number of common shares
outstanding - basic and diluted		10,000		10,000

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

GEORGETOWN SOLAR INC

Statements of Changes in Shareholders' Equity

Unaudited, expressed in Canadian Dollars

	Share Capital
	Number of Shares		Amount	Retained Earnings			Total
Balance at October 7, 2020	-		$ -	$ -		$	-
Share Issuance	10,000		1,000	-			1,000
Net loss for the period	-		-	(21,982)		(21,982)
Balance at November 30, 2020	10,000	$	1,000	$ (21,982)	$	(20,982)
Net loss for the period	-		-	(153,850)		(153,850)
Balance at May 31, 2021	10,000	$	1,000	$ (175,832)	$	(174,832)

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

GEORGETOWN SOLAR INC

Statements of Cash Flows

Unaudited, expressed in Canadian Dollars

		For the six months			For the period
		ended, May 31,		ended November
			2021			30, 2020
Operating activities
Net loss for the period	$	(153,850)	$	(21,982)
Add back: Depreciation		4,304			1,435
Add back: Interest expense		6,365			229
Changes in non-cash working capital items:
GST receivable		825			(825)
Accounts payable and accrued liabilities			112,389			21,143
Cash flows provided by operating activities			(29,967)			-
Financing activities
Proceeds from convertible loan			350,000			-
Cash flows provided by financing activities			350,000			-
Increase in cash		320,033			-
Cash, beginning			-			-
Cash, ending	$	320,033	$	-
Supplemental disclosures with respect to cash flows:
Lease payments made by related parties	$	-	$	(17,750)

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