Bayport International Holdings, Inc. Condensed Balance Sheets (unaudited) Cash and cash equivalents $ - $ 3,354 Total current assets - 3,354

Transcription

1 Bayport International Holdings, Inc. Condensed Balance Sheets (unaudited) ASSETS Current assets June 30, December 31, Cash and cash equivalents $ - $ 3,354 Total current assets - 3,354 Investment in database 3,230 - Investment in 420skybnb.com 13,700 - Skin care business 79,508 79,508 Oil and gas projects 129, ,062 Mineral royalty rights 175, , , ,570 Accumulated amortization (28,769) (23,015) 371, ,555 Start up costs 15,711 15,711 Total Assets $ 387,442 $ 379,620 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable and accrued expenses 51,722 44,422 Due to related party 12,500 - Convertible notes payable, net of original issuance discount 154, ,492 Total current liabilities 219, ,914 Commitments and contingencies - - Stockholders' Equity Common stock, $0.001 par value, 17,000,000,000 shares authorized, 12,804,635,302 and 8,393,152,807 shares issued and outstanding as of June 30, 2018 and December 31, 2017, respectively 12,804,635 8,393,153 Preferred stock, $0.01 par value, 17,000,000,000 shares authorized, 24,000,000 shares issued and outstanding as of June 30, 2018 and December 31, 2017, respectively. 240, ,000 Additional paid-in capital (12,447,641) (8,186,656) Accumulated deficit (428,672) (268,791) Total stockholders' equity 168, ,706 Total liabilities and stockholders' equity $ 387,442 $ 379,620 See notes to financial statements.

2 Bayport International Holdings, Inc. Condensed Statements of Operations (unaudited) For the For the Six months ended Six months ended June 30, June 30, Revenue $ - $ 14,082 Cost of good sold $ - $ (4,000) Gross Profit - 10,082 Operating expenses: General and administrative 101,741 63,899 Total operating expenses 101,741 63,899 Net Operating Loss (101,741) (53,817) Other income (expense): Interest expense (58,140) - Total other expense (58,140) - Loss before provision for income taxes (159,881) (53,817) Provision for income taxes - - Net loss $ (159,881) $ (53,817) Net loss per share - basic and diluted $ (0.01) $ (0.01) Weighted average shares outstanding - basic and diluted 12,798,635,302 7,279,652,807 See notes to financial statements.

3 Bayport International Holdings, Inc. Condensed Statement of Stockholders' Equity (unaudited) Total Additional Stockholders' Common Stock Preferred Stock Paid-In Accumulated Equity Shares Amount Shares Amount Capital (Deficit) (Deficit) Balance, December 31, ,393,152,807 $ 8,393,153 24,000,000 $ 240,000 $ (8,186,656) $ (268,791) $ 177,706 Conversion of notes payable 4,140,901,495 4,140,901 (4,017,461) $ 123,440 Shares issued for services 270,581, ,581 (243,523) $ 27,058 Net loss (159,881) $ (159,881) Balance, June 30, ,804,635,302 $ 12,804,635 24,000,000 $ 240,000 $ (12,447,640) $ (428,672) $ 168,323 See notes to financial statements.

4 Bayport International Holdings, Inc. Condensed Statements of Cash Flow s (unaudited) CASH FLOWS FROM OPERATING ACTIVITIES For the Six months ended For the Six months ended June 30, June 30, Net loss $ (159,881) $ (53,817) Adjustments to reconcile net loss to net cash used in operating activities: Amortization 5,754 5,754 Common shares issued for services 27,058 0 Changes in assets and liabilities: Inventory - - Accounts payable 7,500 40,772 Net cash used in operating activities (119,569) (7,291) CASH FLOWS FROM INVESTING ACTIVITIES NInvestments (16,930) - Net cash used in investing activities (16,930) - CASH FLOWS FROM FINANCING ACTIVITIES Advances from related party 12,500 - Net proceeds from convertible notes payable 120,645 - Net cash provided by financing activities 133,145 - Net decrease in cash and cash equivalents (3,354) (7,291) Cash and cash equivalents at beginning of period 3,354 13,500 Cash and cash equivalents at end of period $ (0) $ 6,209 SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: Interest paid $ - $ - Income taxes paid $ - $ - NON-CASH INVESTING AND FINANCING ACTIVITIES: $ - $ - See notes to financial statements.

5 Bayport International Holdings, Inc. Notes to the Consolidated Financial Statements For the SixMonths Ended June 30, 2018 and 2017 (Unaudited) Note 1 - Organization and Basis of Operations Business Bayport International Holdings, Inc. is a holding company active within the cannabis technology industry. Through its Weedwiser.com digital platform, the company seeks to be a leader in the emerging cannabis technology industry. Furthermore, the company is currently evaluating acquisitions within the industry. Basis of Presentation The accompanying consolidated financial statements are prepared in accordance with generally accepted accounting principles in the United States of America ("US GAAP") and are presented in U.S. dollars. In the opinion of management, the accompanying unaudited financial statements reflect all adjustments, consisting of only normal and recurring adjustments, necessary for a fair presentation of the results of operations, financial position and cash flows for the periods presented. The results of operations for the periods are not necessarily indicative of the results expected for the full year or any future period. Revenue recognition For revenue from product sales, the Company recognizes revenue using four basic criteria that must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management s judgment regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded. The Company defers any revenue for which the product has not been delivered or is subject to refund until such time that the Company and the customer jointly determine that the product has been delivered or no refund will be required. Basic and Diluted Loss Per Share The basic net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding. Diluted net loss per common share is computed by dividing the net loss adjusted on an as if converted basis, by the weighted average number of common shares outstanding plus potential dilutive securities. For the periods presented, there were no outstanding potential common stock equivalents and therefore basic and diluted earnings per share result in the same figure. Stock-based compensation The Company adopted FASB guidance on stock based compensation upon inception at November 18, Under FASB ASC , all share-based payments to employees, including grants of employee stock options, to be recognized in the income statement based on their fair values. Pro forma disclosure is no longer an alternative. Our employee stock-based compensation awards are accounted for under the fair value method of accounting, as such, we record the related expense based on the more reliable measurement of the services provided, or the fair market value of the stock issued multiplied by the number of shares awarded. We account for our employee stock options under the fair value method of accounting using a Black-Scholes valuation model to measure stock option expense at the date of grant. We do not backdate, re-price, or grant stockbased awards retroactively. As of the date of this report, we have not issued any stock options.

6 Income Tax Provision The Company follows the FASB Accounting Standards Codification, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are based on the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the Statements of Operations in the period that includes the enactment date. The Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement. Section also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures. Recently Issued Accounting Pronouncements There are various other updates recently issued, most of which represented technical corrections to the accounting literature or application to specific industries and are not expected to a have a material impact on the Company s consolidated financial position, results of operations or cash flows. Note 2 Convertible Notes Payable The Company entered into an agreement with an Institutional Investor for the principal sum of $250,000 and to pay guaranteed interest on the principal balance hereof at an amount equivalent to 10% of the principal sum, to the extent such principal sum and guaranteed interest and any other interest, fees, liquidated damages and/or items due to Holder herein have not been repaid or converted into the Company's common stock in accordance with the terms. Note 3 Stockholders Equity The Company is authorized to issue 17,000,000,000 shares of $0.001 par value common stock. During the period ending June 30, 2018 the Company issued 4,140,901,495 shares for the conversion of notes payable and interest in the amount of $123,440. In addition the Company issued 270,581,000 shares for consulting services in the amount of $27,058. The Company has 12,804,635,302 common shares issued and outstanding as of June 30, The Company is authorized to issue 25,000,000 shares of $0.01 par value preferred stock. The Company has 24,000,000 preferred shares issued and outstanding as of June 30, Note 4 Contingencies and Litigation Legal Proceedings The Company may be subject to legal proceedings and claims arising from contracts or other matters from time to ti me in the ordinary course of business.management is not aware of any pending or threatened litigation where the ult imate disposition or resolution could have a material adverse effect on its financial

7 Note 5 Subsequent Events Management has evaluated subsequent events pursuant to the requirements of ASC Topic 855 after the balance sheet date through the date the financial statements were issued. The Company did not identify any additional material events or transactions occurring during this subsequent event reporting period that required further recognition or disclosure in these financial statements.

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