Interups Inc. Consolidated Unaudited Financial Statements for Fiscal Years 2020, 2021, and Quarter Ended August 31, 2021

Summary

This document presents the unaudited consolidated financial statements of Interups Inc. for the fiscal years ending May 31, 2020 and 2021, and for the quarter ending August 31, 2021. It includes the profit and loss statement, balance sheet, and cash flow statement, detailing the company's revenues, expenses, assets, liabilities, equity, and cash movements. The statements provide a snapshot of Interups Inc.'s financial performance and position, but are unaudited and for informational purposes only.

EX-10.1 2 itup_ex10z1.htm FINANCIALS SEC EDGAR FILING DOCUMENT

EXHIBIT 10.1


Interups Inc.

Consolidated Unaudited P&L Statement

For the Fiscal Year Ended May 31, 2020 & 2021 and Quarter Ended August 31, 2021



Description


FY 19/20


FY 20/21

Quarter Ending on

8/31/2021

Operating Revenue:

 

 

 

Business Income (Consolidated)

$

139,992,000

$

452,000,000

$

118,650,000

Operating Expenses:

 

 

 

Consulting & Service Fees - Related Parties

$

3,462,143

$

3,337,143

$

785,714

Consulting & Service Fees - Other

$

22,792

$

39,440

$

5,000

Legal & Related Service Fee

$

-

$

38,676

$

-

Professional Fees

$

16,200

$

1,375

$

1,800

Professional Fees (India)

$

308,100

$

1,204,780

$

332,067

General & Administrative Expenses

$

3,362

$

3,270

$

147

General & Administrative Expenses (India)

$

1,246,858

$

4,327,735

$

1,192,832

Bank Service Fees

$

5,405

$

3,469

$

509

Bank Service Fees (India)

$

9,385

$

31,817

$

8,770

IT Expenses

$

3,344

$

2,792

$

663

IT Expenses (India)

$

122,360

$

1,115,071

$

307,341

Office Expenses

$

26,578

$

298

$

-

Office Expenses (India)

$

1,314,052

$

4,294,753

$

1,183,741

Travel & Accommodation Expenses

$

72,550

$

103,726

$

8,907

Travel & Accommodation Expenses (India)

$

1,685,322

$

5,441,493

$

1,499,812

Rent Expenses

$

-

$

3,758,079

$

1,658,250

Other Business Expense

$

149,210

$

194,554

$

16

Other Business Expense (India)

$

801,695

$

2,723,477

$

750,658

Operating Profit / (Loss)

$

130,742,645

$

425,378,052

$

110,913,773

Miscellaneous Income

$

-

$

-

$

35,750

Profit (Loss) Before Interest & Taxes

$

130,742,645

$

425,378,052

$

110,949,523

Gains/(Losses) on Currency Fluctuations

$

34,616

$

184,467

$

49,391

Interest Expense (India)

$

36,969

$

132,864

$

34,877

Interest Expense

$

72,822

$

71,126

$

17,834

Profit (Loss) Before Tax:

$

130,667,470

$

425,358,528

$

110,931,689

Taxes Provision @ 25%

$

27,440,169

$

89,325,291

$

23,295,655

Net Profit/Loss

$

103,227,301

$

336,033,237

$

87,636,034

Earnings Per Share - Basic (Annualized)

$

14.96

$

48.70

$

50.80

Earnings Per Share - Post-Diluted

$

14.80

$

20.00

$

20.87

Post-Diluted Share Volume

6.975M

16.8M

16.8M







Interups Inc.

Consolidated Unaudited Balance Sheet

As of May 31, 2020 & 2021 and As of the Quarter Ended on August 31, 2021



Description

FY 19/20 End

FY 20/21 End

8/31/2021

Assets

 

 

 

Cash & Cash Equivalents

$

-

$

4,362

$

155

Cash & Cash Equivalents (india)

$

239,278

$

1,064,570

$

1,357,992

Receivables

$

-

$

-

$

-

Receivables (India)

$

139,750,369

$

587,701,456

$

703,752,551

Prepaid Expenses

$

0

$

276,000

$

1,007,500

Total Assets

$

139,989,647

$

589,046,389

$

706,118,199

Liabilities

 

 

 

Accounts Payable & Accrued Liabilities

$

1,472,969

$

2,360,527

$

2,385,160

Accounts Payable & Accrued Liabilities (India)

$

5,487,772

$

24,944,229

$

30,303,718

Provision for Taxes

$

27,440,169

$

116,765,460

$

140,061,114

Dues to Related Parties

$

11,142,557

$

13,422,706

$

14,178,704

Loans Payable

$

832,350

$

822,350

$

822,350

Total Liabilities

$

46,375,817

$

158,315,271

$

187,751,047

Stockholders' Defecit

 

 

 

Common Stock @ Par Value of 0.001 per share; 75,000,000 shares

authorized; 6,900,000 issued & outstanding.


$

6,900


$

6,900


$

6,900

Additional Paid-In Capital

$

40,437

$

40,437

$

40,437

Common Stock Issuable - Client/Investor/Other Credit

$

75

$

75

$

75

Common Stock Equity Investment - Reg S & D - shares to be issued

$

1,383,024

$

2,467,074

$

2,467,074

Retained Earnings - P/L for Current Financial Period

$

103,227,301

$

336,033,237

$

87,636,034

Retained Earnings / (Deficit Accumulated)

$

(11,043,907)

$

92,183,394

$

428,216,631

Total Stockholders' Equity

$

93,613,830

$

430,731,117

$

518,367,152

Total Liabilities & Stockholders' Equity

$

139,989,647

$

589,046,389

$

706,118,199








Interups Inc.

Consolidated Unaudited Cash Flow Statement

For the Fiscal Year Ended May 31, 2020 & 2021 and Quarter Ended August 31, 2021




Description


FY 19/20


FY 20/21

Quarter Ending on

8/31/2021

Cash - Beginning of Period

$

0

$

(0)

$

4,362

Cash - Beginning of Period (India)

$

-

$

239,278

$

1,064,570

Cash Flow from Operating Activities:

 

 

 

Net Profit/Loss for the Period

$

103,227,301

$

336,033,237

$

87,636,034

Adjustments to reconcile net loss to net cash provided by (used in)

operating activities:

 

 

 

Changes in Operating Assets and Liabilities:

 

 

 

Prepaid Expenses

$

(0)

$

(276,000)

$

(731,500)

Accounts Payable and Accrued Liabilities

$

5,554,612

$

20,140,024

$

5,331,412

Provision for Taxes

$

27,440,169

$

89,325,291

$

23,295,655

Due to Related Parties

$

3,305,390

$

2,280,149

$

755,998

Accounts Receivable

$

(139,750,369)

$

(447,951,087)

$

(116,051,096)

Interest

$

109,791

$

203,990

$

52,710

Common Stock Issuable

$

-

$

-

$

-

Net Cash Flow Used In Operating Activities

$

(113,107)

$

(244,396)

$

289,215

Cash Flow From Financing Activities:

 

 

 

Proceeds

 

 

 

Net Proceeds from Common Stock Equity Investments - Reg S & D -

Shares to be issued


$

389,985


$

1,084,050


$

-

Net Proceeds from Related Parties

$

-

$

-

$

-

Net Proceeds from Loans Payable

$

(37,600)

$

(10,000)

$

-

Net Cash Provided By Financing Activities

$

352,385

$

1,074,050

$

-

Net Cash Flow

$

239,278

$

829,655

$

289,215

Cash - End of Period

$

239,278

$

1,068,933

$

1,358,147