Interups Inc. Consolidated Unaudited Financial Statements for Fiscal Years 2020, 2021, and Quarter Ended August 31, 2021
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.
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: |
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Business Income (Consolidated) | $ 139,992,000 | $ 452,000,000 | $ 118,650,000 |
Operating Expenses: |
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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 |
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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 |
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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 |
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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: |
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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: |
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Changes in Operating Assets and Liabilities: |
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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: |
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Proceeds |
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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 |