UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

~~[X]~~☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended ~~September~~March 3031, ~~2018~~ 2019

~~[ ]~~☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ____________ to ____________

Commission File Number 001-10346

~~GALENFEHA~~Galenfeha, ~~INC~~Inc. ~~(Exact name of registrant as specified in its charter)~~

(Exact name of registrant as specified in its charter)

Nevada	46-2283393
(State or other jurisdiction of	(I.R.S. Employer
incorporation or organization)	Identification No.)

~~420~~4362 ~~Throckmorton~~Mahan ~~Street, Suite 200 Fort Worth, Texas 76102 (Address of principal executive offices) (Zip code)~~ Drive

~~(800) 280-2404 (Registrant’s telephone number~~Tallahassee, ~~including~~FL ~~area code)~~ 32308

~~N/A~~ (~~Former~~Address ~~name,~~of ~~former~~principal ~~address~~executive ~~and~~offices) ~~former fiscal~~(Zip ~~year, if changed since last report~~code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ] 954-494-7934

~~Indicate~~(Registrant’s bytelephone ~~check mark whether the registrant submitted electronically and posted on its corporate web site~~number, ~~if any, every Interactive~~including ~~Data~~area ~~File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (section 232.405 of this chapter~~code) ~~during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [X] No [ ]~~

420 Throckmorton Street, Suite 200

Fort Worth, Texas 76102

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant submitted electronically and posted on its corporate web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer [☐ ] Accelerated Filer [☐ ] Non-Accelerated Filer [☐ ] Smaller Reporting Company ~~[X]~~☒ Emerging Growth Company ~~[ ]~~☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ~~[ ]~~ ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ~~[ ]~~ ☐ No ~~[X]~~ ☒

As of November 1418, ~~2018~~2024, there were 7297,~~300~~525,~~000~~ 679 shares of the registrant’s common stock outstanding, each with a par value of $0.001.

TABLE OF CONTENTS ~~FORM 10-Q FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2018~~

~~PART~~FORM ~~I FINANCIAL INFORMATION ITEM 1.~~ 10- FINANCIAL STATEMENTS Consolidated Financial Statements Table of Contents F-1 ITEM 2. - MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 3 ITEM 3. - QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 4 ITEM 4. - CONTROLS AND PROCEDURES 4 PART II OTHER INFORMATION ITEM 1. - LEGAL PROCEEDINGS 5 ITEM 1A. - RISK FACTORS 5 ITEM 2. - UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 5 ITEM 3. - DEFAULTS UPON SENIOR SECURITIES 5 ITEM 4. - MINE SAFETY DISCLOSURES 5 ITEM 5. - OTHER INFORMATION 5 ITEM 6. - EXHIBITS 5 SIGNATURES 5Q

~~Galenfeha,~~FOR ~~Inc.INDEX~~THE TOQUARTERLY ~~CONSOLIDATED~~PERIOD ~~FINANCIAL~~ENDED ~~STATEMENTS (Unaudited)~~MARCH 31, 2019

	Page
Consolidated Balance Sheets (Unaudited)	F-2
Consolidated Statements of Operations (Unaudited)	F-3
Consolidated Statements of Cash Flows (Unaudited)	F-4
Notes to Unaudited Consolidated Financial Statements	F-5

PART I FINANCIAL INFORMATION

ITEM 1. - FINANCIAL STATEMENTS

Consolidated Financial Statements Table of Contents	F-1

ITEM 2. - MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	3
ITEM 3. - QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	6
ITEM 4. - CONTROLS AND PROCEDURES	6

PART II OTHER INFORMATION

ITEM 1. - LEGAL PROCEEDINGS	6
ITEM 1A. - RISK FACTORS	6
ITEM 2. - UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	7
ITEM 3. - DEFAULTS UPON SENIOR SECURITIES	7
ITEM 4. - MINE SAFETY DISCLOSURES	7
ITEM 5. - OTHER INFORMATION	7
ITEM 6. - EXHIBITS	7

SIGNATURES	7

Galenfeha, Inc.~~CONSOLIDATED BALANCE SHEETS(Unaudited)~~

		September 30, 2018			December 31, 2017
		(Successor)			(Predecessor)
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	17,799		$	348
Accounts receivable		1,333,683			537,337
Due from related parties		19,000			12,000
Inventory asset		172,517			30,000
Marketable securities		134,615			-
Total current assets		1,677,614			579,685
Property and equipment, net of accumulated depreciation		841,571			887,340
Goodwill		212,279			-
TOTAL ASSETS	$	2,731,464		$	1,467,025
LIABILITIES AND STOCKHOLDERS’ EQUITY(DEFICIT)
CURRENT LIABILITIES
Accounts payable and accrued liabilities	$	438,752		$	237,613
Lines of credit payable		619,841			173,561
Note payable		375,759			482,983
Convertible notes payable		180,995			-
Short-term non-secured debt		334,467			404,509
Due to officer and related parties		208,367			36,867
Total current liabilities		2,158,181			1,335,533
Long term notes payable		338,953			471,924
Total liabilities		2,497,134			1,807,457
STOCKHOLDERS’ EQUITY (DEFICIT)
Preferred stock
Preferred A shares: Authorized: 20,000,000 shares, $0.001 par value, 7,300,000 issued and outstanding		7,300			-
Preferred B shares: Authorized: 30,000,000 shares, $0.001 Par value, 27,347,563 issued and outstanding		27,348			-
Common stock
Authorized: 150,000,000 common shares, $0.001 par value, 72,300,000 issued and outstanding		72,300			-
Additional paid-in capital		3,709,081			-
Member contributions (draws)		-			(70,040	)
Accumulated deficit		(3,581,699	)		(270,392	)
Total stockholders’ equity (deficit)		234,330			(340,432	)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)	$	2,731,464		$	1,467,025

INDEX TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

	Page
Consolidated Balance Sheets (Unaudited)	F-2

Consolidated Statements of Operations (Unaudited)	F-3

Consolidated Statements of Cash Flows (Unaudited)	F-5

Notes to Unaudited Consolidated Financial Statements	F-6

F-1

Galenfeha, Inc.

Consolidated Balance Sheets

(Unaudited)


	March 31, 2019			December 31, 2018
	(Successor)			(Successor)

ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	20,644		$	181,645
Marketable securities		102,000			108,150
Accounts receivable		983,941			815,266
Inventory		157,751			164,978
Total current assets		1,264,336			1,270,039

Property and equipment, net of accumulated depreciation		758,999			733,379
Right of use assets, operating leases		103,369			-
Goodwill		286,497			286,497

TOTAL ASSETS	$	2,413,201		$	2,289,915

LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
CURRENT LIABILITIES
Accounts payable and accrued liabilities	$	485,379		$	492,805
Lines of credit payable		640,418			639,841
Note payable		148,602			316,546
Convertible notes payable, net of discount		11,409			182,507
Short-term non-secured debt		60,000			60,000
Due to officer and related parties		352,144			327,144
Right of use liabilities, operating leases, current portion		88,025			-
Right of use liabilities, finance leases, current portion		162,952			-
Derivative liabilities		90,727			-
Total current liabilities		2,039,656			2,018,843

Right of use liabilities, operating leases		31,344			-
Right of use liabilities, finance leases		75,720			-
Long term notes payable		240,216			294,565
Total liabilities		2,386,936			2,313,408

STOCKHOLDERS’ EQUITY (DEFICIT)
Preferred stock Preferred A shares: Authorized: 20,000,000 shares, $0.001 par value, 19,300,000 and 7,300,000 issued and outstanding as of March 31, 2019 and December 31, 2018, respectively		19,300			7,300
Preferred B shares: Authorized: 30,000,000 shares, $0.001 Par value, 0 and 27,347,563 issued and outstanding as of March 31, 2019 and December 31, 2018, respectively		-			27,348
Common stock Authorized: 150,000,000 common shares, $0.001 par value, 95,944,216 and 72,300,000 issued and outstanding as of March 31, 2019 and December 31, 2018, respectively		95,945			72,300
Additional paid-in capital		4,003,287			3,709,081
Accumulated deficit		(4,092,267	)		(3,839,522	)
Total stockholders’ equity (deficit)		26,265			(23,493	)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)	$	2,413,201		$	2,289,915

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

~~Galenfeha, Inc.CONSOLIDATED STATEMENTS OF OPERATIONS(Unaudited)~~F-2

		Three Month Periods						Nine Month Periods
		Three Months Ended			Three Months Ended			January 29, 2018-			January 1, 2018-			Nine Months Ended
		September 30, 2018			September 30, 2017			September 30, 2018			January 28,2018			September 30, 2017
		(Successor)			(Predecessor)			(Successor)			(Predecessor)			(Predecessor)
Revenues	$	1,109,667		$	582,560		$	2,439,608		$	412,416		$	1,260,277
Less: Cost of Sales		202,169			148,698			725,670			45,626			261,259
Operating Expenses:
General and administrative		171,103			162,417			438,313			146,273			514,020
Payroll expenses		306,359			263,436			735,699			66,910			411,169
Professional fees		53,560			42,365			132,850			375			111,433
Depreciation and amortization expense		26,710			92,383			93,876			20,355			241,286
Total operating expenses		557,732			560,601			1,400,738			233,913			1,277,908
Income (Loss) from operations		349,766			(126,739	)		313,200			132,877			(278,890	)
Other (expense) income:
Miscellaneous income		17,564			-			32,600			-			32,511
Rental income- related party		9,000			-			24,000			3,000			-
Realized gain (loss) on sale of investments		(15,648	)		-			(13,321	)		-			-
Unrealized gain (loss) on trading securities		(13,915	)		-			(14,945	)		-			-
Interest expense		(2,535	)		(11,369	)		(103,130	)		(7,725	)		(20,468	)
Loss on derivative instruments		-			-			(105,284	)		-			-
Total other (expense)		(5,534	)		(11,369	)		(180,080	)		(4,725	)		12,043
Net income (loss)	$	344,232		$	(138,108	)	$	133,120		$	128,152		$	(266,847	)
Net loss per share, basis and diluted	$	0.00					$	0.00
Weighted average number of common shares outstanding, basic and diluted		72,300,000						72,005,448

Galenfeha, Inc.

Consolidated Statements of Operations

(Unaudited)


	Three Months Ended			January 29, 2018-			January 1, 2018-
	March 31, 2019			March 31, 2018			January 28, 2018
	(Successor)			(Successor)			(Predecessor)

Revenues	$	1,007,082		$	708,126		$	412,416
Less: Cost of Sales		264,433			206,395			45,626

Operating Expenses:
General and administrative		351,599			90,994			107,031
Payroll expenses		302,343			178,117			64,672
Professional fees		67,876			25,699			375
Depreciation and amortization expense		39,929			54,784			27,631
Total operating expenses		761,747			349,594			199,709

Income (loss) from operations		(19,098	)		152,137			167,081

Other (expense) income:
Miscellaneous income (expense)		(1,391	)		667			-
Realized loss on sale of investments		(10,994	)		(7,590	)		-
Unrealized gain (loss) on investments		33,295			(9,912	)		-
Interest expense		(177,285	)		(66,834	)		(9,969	)
Gain (loss) on derivative instruments		(77,272	)		102,604			-
Total other (expense) income		(233,647	)		18,935			(9,969	)

Net income (loss)	$	(252,745	)	$	171,072		$	157,112

Net income (loss) per share, basis and diluted	$	(0.00	)	$	0.00

Weighted average number of common shares outstanding, basic and diluted		89,929,857			72,153,253

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

~~Galenfeha, Inc.CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited)~~F-3

		January 29, 2018-			January 1, 2018-			Nine Months Ended
		September 30, 2018			January 28,2018			September 30, 2017
		(Successor)			(Predecessor)			(Predecessor)
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss )	$	133,120		$	128,152		$	(266,847	)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization		93,876			20,355			241,286
Loss on derivative instruments		105,284			-			-
Amortization of debt discounts on convertible notes		31,920			-			-
Realized gains on investments		13,321			-			-
Unrealized losses on investments		14,945			-			-
Changes in operating assets and liabilities:
Accounts receivable		(516,754	)		(284,592	)		(416,784	)
Accounts receivable from related party		(19,000	)		17,000			-
Inventory		(142,517	)		-			-
Accounts payable		33,053			78,565			232,465
Net cash (used in) operating activities		(252,752	)		(40,520	)		(209,880	)
CASH FLOWS FROM INVESTING ACTIVITIES
Repurchase and cancellation of shares		(913	)		-			-
Net purchases of marketable securities		(96,164	)		-			-
Purchase of property and equipment		(16,610	)		-			(215,397	)
Cash assumed in acquisition of subsidiary		171,703			-			-
Net cash (used in) investing activities		58,016			-			(215,397	)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from lines of credit		198,030			627,147			373,928
Payments on lines of credit		-			(378,897	)		(237,340)
Proceeds from other loans payable		300,000			-			315,000
Payments on non-securied debt		(331,481	)		-			-
Proceeds from notes payable		-			-			110,552
Payments on notes payable		(207,381	)		(32,814	)		(158,412	)
Proceeds on liabilities due to officer and related parties		295,000			35,000			54,693
Payments on liabilities due to officer and related parties		(203,500	)		(38,561	)		(29,158	)
Proceeds on convertible notes payable		180,000			-			-
Principal payments on convertible debenture contracts		(21,840	)		-			-
Payments on margin loan		(18,455	)		-			-
Member draws		-			-			(77,540	)
Net cash provided by financing activities		190,373			211,875			351,723
INCREASE (DECREASE) IN CASH		(4,363	)		171,355			(73,554	)
Cash at beginning of period		22,162			348			88,321
Cash at end of period	$	17,799		$	171,703		$	14,767
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for :
Interest	$	95,405		$	7,725		$	20,468
Income Taxes	$	-		$	-		$	-
Non-Cash Transactions
Common stock issued for debt conversion	$	12,420		$	-		$	-
Derivative liability extinguished on conversion	$	55,938		$	-		$	-
Fixed assets purchased through accounts payable	$	-		$	51,853		$	-
Fixed assets purchased through notes payable	$	-		$	-		$	908,887

Galenfeha, Inc.

~~The~~Consolidated Statements ~~accompanying notes are an integral part~~ of ~~these consolidated~~Equity ~~financial statements~~(Deficit)

~~Galenfeha, Inc. Notes to~~ (Unaudited ~~Consolidated Financial Statements September 30, 2018~~ )

NOTE 1 - BASIS OF PRESENTATION


	Member																			Additional			Total
	Contributions			Preferred Series A				Preferred Series B						Common Stock						Paid-in			Accumulated			Equity
	(draws)			Shares		Amount		Shares			Amount			Shares			Amount			Capital			Deficit			(Deficit)

Balance - December 31, 2017 (Predecessor)	$	(70,040	)		-	$	-		-		$	-			-		$	-		$	-		$	(374,121	)	$	(444,161	)

Net income		-			-		-		-			-			-			-			-			157,112			157,112

Balance - January 28, 2018 (Predecessor)		(70,040	)		-		-		-			-			-			-			-			(217,009	)		(287,049	)

Balance - January 29, 2018 (Successor)	$	-			7,300,000	$	7,300		27,347,563		$	27,348			70,399,716		$	70,399		$	3,643,537		$	(3,923,978	)	$	(175,394	)

Conversion debt to shares		-			-		-		-			-			1,923,077			1,923			10,497			-			12,420

Repurchase and cancellation of common shares		-			-		-		-			-			(22,793	)		(22	)		(891	)		-			(913	)

Derivative liability extinguished on conversion		-			-		-		-			-			-			-			55,938			-			55,938

Net income		-			-		-		-			-			-			-			-			171,072			171,072

Balance - March 31, 2018 (Successor)	$	-			7,300,000	$	7,300		27,347,563		$	27,348			72,300,000		$	72,300		$	3,709,081		$	(3,752,906	)	$	63,123

Balance – December 31, 2018 (Successor)	$	-			7,300,000	$	7,300		27,347,563		$	27,348			72,300,000		$	72,300		$	3,709,081		$	(3,839,522	)	$	(23,493	)

Conversion debt to shares		-			-		-		-			-			8,296,653			8,297			124,703			-			133,000

Derivative liability extinguished on conversion		-			-		-		-			-			-			-			169,503			-			169,503

Preferred Series B converted to common stock		-			-		-		(15,347,563	)		(15,348	)		15,347,563			15,348			-			-			-

Preferred Series B converted to Preferred Series A		-			12,000,000		12,000		(12,000,000	)		(12,000	)		-			-			-			-			-

Net loss		-			-		-		-			-			-			-			-			(252,745	)		(252,745	)

Balance - March 31, 2019 (Successor)	$	-			19,300,000	$	19,300		-		$	-			95,944,216		$	95,945		$	4,003,287		$	(4,092,267	)	$	26,265

The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at September 30, 2018, and for all periods presented herein, have been made. F-4

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted. It is suggested that these unaudited interim financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s December 31Galenfeha, ~~2017 audited financial statements included in its Form 10-K filed with the Securities and Exchange Commission~~Inc. ~~The results of operations for the period ended September 30, 2018 and the same period last year are not necessarily indicative of the operating results for the full years.~~

Consolidated Statements of Cash Flows

(unaudited)


	Three Months Ended			January 29, 2018-			January 1, 2018-
	March 31, 2019			March 31, 2018			January 28,2018
	(Successor)			(Successor)			(Predecessor)

CASH FLOWS FROM OPERATING ACTIVITIES

Net income (loss)	$	(252,745	)	$	171,072		$	157,112
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization		39,929			54,784			27,631
(Gain) Loss on derivative instruments		77,272			(102,604	)		-
Amortization for debt discounts on notes payable and convertible notes		144,860			30,956			-
Amortization of right of use assets, operating leases		17,679			-			-
Bad debt expense		144,658			-			-
Realized losses on investments		10,994			7,590			-
Unrealized (gains) losses on investments		(33,295	)		9,912			-
Changes in operating assets and liabilities:
Accounts receivable		(313,333	)		62,391			(284,592	)
Due from related party		-			(4,000	)		18,000
Inventory		7,227			(60,000	)		-
Prepaid expenses and other current assets		-			(93,686	)		-
Accounts payable and accrued liabilities		10,125			(41,068	)		35,930
Right of use liabilities, operating leases		(19,679	)		-			-
Net cash provided by (used in) operating activities		(166,308	)		35,347			(45,919	)

CASH FLOWS FROM INVESTING ACTIVITIES
Repurchase and cancellation of common shares		-			(913	)		-
Sale and purchases of investments, net		28,451			30,418			-
Cash assumed in acquisition of subsidiary		-			171,703			-
Net cash provided by (used in) investing activities		28,451			201,208			-

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from lines of credit		657,000			108,030			627,147
Payments on lines of credit		(656,423	)		-			(378,897	)
Payments on other loans payable		-			(100,348	)		-
Payments on notes payable and capital leases		(48,721	)		(144,861	)		(27,415	)
Proceeds on liabilities due to officer and related parties		50,000			300,000			35,000
Payments on liabilities due to officer and related parties		(25,000	)		(28,500	)		(38,561	)
Principal payments on convertible debenture contracts		-			(21,840	)		-
Payments on margin loan		-			(14,203	)		-
Net cash provided by (used in) financing activities		(23,144	)		98,278			217,274

CHANGE IN CASH AND CASH EQUIVALENTS		(161,001	)		334,833			171,355

Cash and cash equivalents at beginning of period		181,645			22,162			348

Cash and cash equivalents at end of period	$	20,644		$	356,995		$	171,703

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION

Cash paid for :
Interest	$	18,854		$	34,787		$	7,725
Income Taxes	$	-		$	-		$	-
Non-Cash Transactions

Common stock issued for debt conversion	$	133,000		$	12,420		$	-
Derivative liability extinguished on conversion	$	169,503		$	55,938		$	-
Debt discount from issuance of new derivative liabilities	$	182,958		$	-		$	51,853
Initial recognition of ROU assets and liabilities due to adoption of ASC 842	$	139,048		$	-		$	-
Finance leases reclassified out of notes payable	$	260,137		$	-		$	-
Preferred Series B shares converted into common shares	$	15,348		$	-		$	-
Preferred Series B shares converted into Preferred Series A shares	$	12,000		$	-		$	-
Fixed assets purchased through accounts and notes payable	$	65,549		$	-		$	-

The accompanying notes are an integral part of these unaudited consolidated financial statements

F-5

Galenfeha, Inc.

Notes to Consolidated Financial Statements

March 31, 2019

(Unaudited)

NOTE 1 – NATURE OF OPERATIONS AND BASIS OF PRESENTATION

Galenfeha was incorporated on March 14, 2013 in the state of Nevada. Our corporate office is located at 420 Throckmorton Street, Suite 200, Ft. Worth Texas 76102, and our telephone number is 1-817-945-6448. Our website is www.galenfeha.com.

On January 29, 2018, the Company acquired substantially all of the operating assets of Fleaux Solutions, LLC, a Louisiana Limited Liability Company (the "Acquisition") a Company with common officers and directors. There was no common majority ownership between the Company and Fleaux Solutions, LLC. Fleaux Solutions, LLC is engaged in the business of water, utility, and sewage construction. Upon the closing of the Acquisition, the Company received substantially all of the operating assets of Fleaux Solutions, LLC, consisting of cash on hand, inventory, accounts receivable, and fixed assets. There are common directors/officers of Fleaux Solutions, LLC with Galenfeha, Inc. and no common majority control.

The purchase price of the operating assets of Fleaux Solutions, LLC was a cash payment of $1.~~00.~~ In addition, the Company assumed $2,~~149~~155,~~749~~331 of scheduled liabilities.

The Company accounted for its acquisition of the operating assets of Fleaux Solutions, LLC using the acquisition method of accounting. Fleaux Solutions cash on hand, inventories, accounts receivable, and fixed assets acquired and liabilities assumed were recorded based upon their estimated fair values as of the closing date of the Acquisition. The excess of purchase price over the value of the net assets acquired was recorded as goodwill. (See Note 4)

A condensed version of our 2019 Statement of Work is as follows:

1.	Explore investments both private and public
2.	Develop new technologies for product development, engineering, and manufacturers
3.	Formulate applications for new products recently developed
4.	Commercialize new technology and products

BASIS OF PRESENTATION

The Financial Statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The Financial Statements have been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles (“GAAP”) of the United States (See Note 2 regarding the assumption that the Company is a “going concern”). Certain prior period amounts have been reclassified to conform to current period presentation.

The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at March 31, 2019, and for all periods presented herein, have been made.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted. It is suggested that these unaudited interim financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s December 31, 2018 audited financial statements included in its Form 10-K filed with the Securities and Exchange Commission. The results of operations for the period ended March 31, 2019 are not necessarily indicative of the operating results for the full year.

F-6

The basis of presentation is not consistent between the successor and predecessor entities and the financial statements are not presented on a comparable basis. As a result, the accompanying consolidated statements of operations, cash flows and comprehensive income (loss) are presented for two different reporting entities:

~~Successor~~The —term “Successor” relates to the combined entities financial periods and balance sheets succeeding the Acquisition; ~~and~~the term “Predecessor” — relates to the ~~financial~~ financial of Fleaux Solutions, LLC periods preceding the Acquisition (prior to January 29, 2018).

Unless otherwise indicated, the “Company” as used throughout the remainder of the notes, refers to both the Successor and Predecessor.

Correction of Previously Reported Interim Information

During the audit of the Company’s consolidated financial statements for the year ended December 31, 2018, the Company identified errors related to the Predecessor’s inventory accounting, accounts receivable, derivatives depreciation of property and equipment, accounting for capital and operating leases and unrecorded liabilities.

This resulted in adjustments to the previously reported amounts in the unaudited financial statements of the Company for the period from January 29, 2018 through March 31, 2018 (Successor). In accordance with the SEC’s Staff Accounting Bulletin Nos. 99 and 108 (SAB 99 and SAB 108), the Company evaluated these errors and, based on an analysis of quantitative and qualitative factors, determined that the errors were immaterial to the prior reporting periods affected. Therefore, as permitted by SAB 108, the Company corrected, in the current filing, previously reported unaudited results of the Company for the period from January 29, 2018 through March 31, 2018 (Successor)

The table below summarizes the impact on the affected periods:

Schedule of condensed income statement
	January 29, 2018 through March 31, 2018
Consolidated Statement of Operations	(Successor)

	As Previously
	Reported			Adjustment			As Adjusted
Cost of sales	$	219,423		$	(13,028	)	$	206,395
General and administrative		92,464			(1,470	)		90,994
Payroll expenses		197,939			(19,822	)		178,117
Professional fees		29,320			(3,621	)		25,699
Depreciation and amortization		40,710			14,074			54,784
Total operating expenses		360,433			(10,839	)		349,594
Income from operations		128,270			23,867			152,137
Rental income-related party		6,000			(6,000	)		-
Miscellaneous income		36			631			667
Realized gain (loss) on sale of investments		(762	)		(6,828	)		(7,590	)
Unrealized gain (loss) on investments		(3,030	)		(6,882	)		(9,912	)
Gain (loss) on derivative instruments		(105,284	)		207,888			102,604
Interest expense		(63,836	)		(2,998	)		(66,834	)
Total other income (expense)		(166,876	)		185,811			18,935
Net income (loss)		(38,606	)		209,678			171,072
Net income (loss) per share	$	(0.00	)	$	0.00		$	0.00
Weighted average number of common shares outstanding		69,937,803			2,215,450			72,153,253

F-7


	January 29, 2018 through March 31, 2018
Consolidated Statement of Cash Flows	(Successor)

	As Previously
	Reported			Adjustment			As Adjusted
Cash Flows from Operating Activities
Net income (loss)	$	(38,606	)	$	209,678		$	171,072
Amortization of debt discount		30,925			31			30,956
Realized losses on sale of investments		762			6,828			7,590
Unrealized losses on investments		3,030			6,882			9,912
(Gain) loss on derivative instruments		105,284			(207,888	)		(102,604	)
Depreciation and amortization		40,710			14,074			54,784
Accounts receivable		57,391			5,000			62,391
Due from related party		(1,000	)		(3,000	)		(4,000	)
Prepaid expenses and other current assets		(62,769	)		(30,917	)		(93,686	)
Accounts payable and accrued liabilities		(30,225	)		(10,843	)		(41,068	)
Net cash used in operating activities		45,502			(10,155	)		35,347

Cash Flows from Investing Activities
Sales and purchases of investments, net		36,765			(6,347	)		30,418
Net cash provided by investing activities		207,555			(6,347	)		201,208

Cash Flows from Financing Activities
Payments on notes payable		(161,363	)		16,502			(144,861	)
Proceeds on liabilities due to officer and related parties		-			300,000			300,000
Proceeds from other loans payable		300,000			(300,000	)		-
Net cash provided by financing activities		81,776			16,502			98,278

NOTE 2 - GOING CONCERN

The accompanying unaudited consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The Company has ~~negative~~a working capital, ~~negative~~deficit and limited cash flows from operations ~~and has an accumulated deficit~~. These conditions raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the accompanying unaudited interim consolidated financial statements are issued. The Company’s ability to continue as a going concern is dependent upon the Company’s ability to achieve a level of profitability. The Company intends on financing its future development activities and its working capital needs largely from the sale of public equity ~~securities~~ securities with some additional funding from other traditional financing sources, including term notes until such time that funds provided by operations are sufficient to fund working capital requirements. The financial statements of the Company do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classifications of liabilities that might be necessary should the Company be unable to continue as a going concern.

NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

BASIS OF PRESENTATION

The accompanying financial statements have been presented on a comparative basis. For periods after the acquisition of Fleaux Solutions, LLC (see Note 4), the Company is referred to as the Successor and its results of operations combines the operations of Fleaux Solutions, LLC and those of Galenfeha, Inc. For periods prior to the acquisition of Fleaux Solutions, the Company is referred to as the Predecessor and its results of operations include only the Fleaux Solutions, LLC operations. A black line separates the Predecessor and Successor financial statements to highlight the lack of comparability between these two periods.

PRINCIPLES OF CONSOLIDATION

The consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, Fleaux Solutions, LLC. All significant inter-company accounts and transactions have been eliminated.

USE OF ESTIMATES

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates and assumptions also affect the reported amounts of revenues, costs, and expenses during the reporting period. Management evaluates these estimates and assumptions on a regular basis. Actual results could differ from those estimates.

F-8

REVENUE RECOGNITION

~~Revenues~~Prior ~~are~~to January 1, 2018, the Company recognized revenue when ~~control~~all of the ~~promised~~following ~~goods~~conditions ~~or services~~were issatisfied: ~~transferred~~(1) tothere ~~the~~is ~~Company’s~~persuasive ~~customers,~~evidence inof an ~~amount~~arrangement; ~~that~~(2) ~~reflects~~the service has been provided to the ~~consideration~~customer; (3) the ~~Company~~amount ~~expects~~of fees to be ~~entitled~~paid toby inthe ~~exchange~~customer ~~for~~is ~~those goods~~fixed or ~~services,~~determinable; and (4) the collection of its fees is reasonably assured. pursuant to the guidance provided by Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic ~~606~~605.

~~Services~~On ~~revenues~~January ~~are~~1, ~~generated~~2018, ~~from~~The ~~sub-contractor~~Company ~~services~~adopted FASB ASC ~~provided~~Topic to606, ~~contractors~~Revenue ~~for~~from ~~infrastructure~~Contracts ~~water-line~~with ~~repair~~Customers. The Company ~~recognizes~~ ~~revenue~~primarily ~~for~~earns ~~these~~revenue from services atrelated ato ~~point~~sewage inand ~~time~~waste aswater construction ~~the~~projects. ~~customer receives~~Revenue ~~and~~is ~~consumes~~recognized ~~the~~when ~~benefits~~control of the ~~service~~services asis ~~they~~transferred ~~are~~to ~~being performed and~~ the ~~Company~~customer ~~has~~in aan ~~right~~amount tothat ~~payment~~reflects ~~for~~the consideration ~~performance~~the ~~completed to date. The~~ Company ~~recognizes~~expects ~~revenue~~to ~~upon~~be ~~invoicing~~entitled ~~and~~to ~~completion~~in ofexchange ~~service~~ for the ~~contractor~~ ~~and recognizes expenses as incurred~~services.

~~Successor:~~Revenue ~~For~~is ~~the~~recognized ~~period~~based ~~from~~on ~~January~~the ~~29,~~following ~~2018 through~~five ~~September~~step ~~30, 2018; $1,900,271 or 78% of our total revenue came from one customer and $479,691 or 20% came from one other customer.~~ model:

~~Predecessor:~~● ~~For~~Identification of the ~~period~~contract ~~from~~with ~~January~~a 1,customer ~~2018~~● ~~through January~~Identification ~~29,~~of ~~2018;~~the ~~$256,334~~performance orobligations ~~62%~~in the contract ● Determination of ~~our~~the ~~total~~transaction ~~revenue~~price ~~came~~● ~~from~~Allocation ~~one~~of ~~customer and~~the ~~$136~~transaction price to the performance obligations in the contract ● Recognition of revenue when,~~937~~ or ~~33%~~as, ~~came~~the ~~from~~Company ~~one~~satisfies ~~other~~a ~~customer.~~performance obligation

~~Predecessor-~~Performance For the nine months ending September 30, 2017; $468,840 or 37% of our total revenue came from one customer, $347,622 or 28% came from one other customer and $325,895 or 26% came from one other customer. Obligations

~~The~~Revenues are recognized when all the following criteria ~~table~~are ~~presents~~satisfied: ~~our~~(i) ~~revenues~~a ~~disaggregated~~contract bywith an end user exists which has commercial substance; (ii) it is probable the Company will collect ~~revenue~~the ~~source~~amount charged to the end user; and (iii) the Company has completed its performance obligation whereby the end user has received the benefit of the services. A contract with commercial substance exists once the Company receives and accepts a purchase order or once it enters into a contract with a customer. If collectability is not probable, the sale is deferred and not recognized until collection is probable or payment is received. Control of products typically transfers when title and risk of ownership of the product has transferred to the customer. For contracts with multiple performance obligations, the Company allocates the total transaction price to each performance obligation in an amount based on the estimated relative standalone selling prices of the promised goods or services underlying each performance obligation. The Company uses an observable price to determine the stand-alone selling price for separate performance obligations or a cost-plus margin approach when one is not available. Historically the Company’s contracts have not had multiple performance obligations. The large majority of the Company’s performance obligations are recognized at a point in time as services are provided.

	Three Month Periods		Nine Month Periods
	Three Months Ended	Three Months Ended	January 29, 2018-	January 1, 2018-	Nine Months Ended
	September 30, 2018	September 30, 2017	September 30, 2018	January 28,2018	September 30, 2017
	(Successor)	(Predecessor)	(Successor)	(Predecessor)	(Predecessor)
Pre and Post CCTV	293,512	26,875	578,297	26,816	98,026
Point Repairs	9,223	88,436	51,074	-	88,436
Manhole Rehabilitation	123,542	122,316	327,265	256,300	251,938
Service Lateral Reconnect	97,250	133,665	355,939	31,700	542,584
Cosmic Service Lateral Lining	586,140	211,268	1,127,033	97,600	279,293

Incidental items that are immaterial in the context of the contract are recognized as expense. The payment terms between invoicing and when payment is due are less than one year. As of March 31, 2019, none of the Company’s contracts contained a significant financing component.

~~Pre~~The ~~and~~Company ~~Post~~elected ~~CCTV~~the ~~consists~~practical expedient to not adjust the amount of ~~cleaning~~revenue ~~wastewater~~to ~~lines.~~be recognized under a contract with an end user for the effects of time value of money when the timing difference between receipt of payment and recognition of revenue is less than one year.

~~Point~~Contract ~~Repairs consists of an excavator used to find a marked deviated in existing wastewater pipe and repairs and then made to the line.~~Liabilities

~~Manhole~~At ~~Rehabilitation~~a ~~consists~~given ofpoint ~~lining~~in time, the ~~manhole~~Company may have ~~interiors,~~collected ~~internal~~payment ~~sealing~~for offuture services to be provided. These transactions are deferred until the ~~joint~~services ~~area,~~are provided and ~~reconstructing~~control ~~manhole~~transfers ~~benches~~to the customer, and ~~channels~~the performance obligation is considered complete. At March 31, 2019 and December 31, 2018 there was no revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period.

~~Service Lateral Reconnect consists of an excavator used to dig where a service needs reconnecting to the main pipe and the repairs are then made to that line.~~F-9

~~Cosmic~~Contract Service Lateral Lining uses our exclusive material to robotically insert into an existing service line where UV light then cures the material creating a bonded connection between the mainline and the service line.Costs

Costs incurred to obtain a customer contract are not material to the Company. The Company elected to apply the practical expedient to not capitalize contract costs to obtain contracts with a duration of one year or less, which are expensed and included within cost of goods and services.

Critical Accounting Estimates

Estimates may be used to determine the amount consideration in contracts, the standalone selling price among separate performance obligations and the measure of progress for contracts where revenue is recognized over time. The Company reviews and updates these estimates regularly.

Disaggregation of Revenue

The following table presents our revenues disaggregated by revenue source:


	Three Months Ended		January 29, 2018-		January 1, 2018-
	March 31, 2019		March 31, 2018		January 28, 2018
	(Successor)		(Successor)		(Predecessor)

Pre and Post CCTV	$	85,582	$	163,699	$	26,816
Point Repairs		27,450		44,060		-
Manhole Rehabilitation		16,400		157,941		256,300
Service Lateral Reconnect		213,300		82,001		31,700
Cosmic Service Lateral Lining		664,350		260,425		97,600
Total Revenue	$	1,007,082	$	708,126	$	412,416

Pre and Post CCTV consists of cleaning wastewater lines. Point Repairs consists of an excavator used to find a marked deviated in existing wastewater pipe and repairs and then made to the line. Manhole Rehabilitation consists of lining the manhole interiors, internal sealing of the joint area, and reconstructing manhole benches and channels. Service Lateral Reconnect consists of an excavator used to dig where a service needs reconnecting to the main pipe and the repairs are then made to that line.

Concentrations

For the three months ended March 31, 2019 (Successor); one customer accounted for $433,515 or 43% of our total revenue, one customer accounted for $393,833 or 39% of our total revenue, and one customer accounted for $176,078 or 17% of our total revenue.

For the period from January 29, 2018 through March 31, 2018 (Successor); $642,507 or 91% of our total revenue came from one customer.

For the period from January 1, 2018 through January 29, 2018 (Predecessor); $256,334 or 62% of our total revenue came from one customer and $136,937 or 33% came from one other customer.

F-10

CASH AND CASH EQUIVALENTS

All cash, other than held in escrow, is maintained with a major financial institution in the United States. Deposits with this bank may exceed the amount of insurance provided on such deposits. Temporary cash investments with an original maturity of three months or less are considered to be cash equivalents. ~~Cash at September 30, 2018 (Successor) and December 31, 2017 (Predecessor) was $17,799 and $348, respectively.~~

ACCOUNTS RECEIVABLE

Accounts receivable represents the uncollected portion of amounts recorded as revenues. Management performs periodic analyses to evaluate all outstanding accounts receivable to estimate an allowance for doubtful accounts that may not be collectible, based on the best facts available to management. Management considers historical collection patterns, accounts receivable aging trends and specific identification of disputed invoices in its analyses. After all reasonable attempts to collect a a receivable have failed, the receivable is directly written off. As of ~~September~~March 3031, ~~2018~~2019 ~~(Successor)~~ and December 31, ~~2017~~2018 (~~Predecessor~~Successor), the balance of the allowance for doubtful accounts was $144,658 and $0., respectively.

As of ~~December~~March 31, ~~2017;~~2019 (Successor), $~~119~~442,~~201~~659 or 22 45% ofwas ~~our~~from ~~Accounts~~a ~~Receivable~~single customer, $397,457 or 40% was from ~~one~~another single customer, and ~~another~~ $~~359~~135,~~474~~898 or 6714% was from another single customer. As of ~~September~~December 3031, 2018; (Successor), $~~924~~564,~~081~~884 or 69% ~~of our total accounts receivable~~ was from ~~one~~ a single customer, and ~~another~~ $~~370~~155,~~532~~159 or 2819% was from another single customer.

INVENTORIES

Inventories are stated at the lower of cost, using an average cost method, or net realizable value.

MARKETABLE SECURITIES

The Company reports investments in marketable securities at fair value on a recurring basis in accordance with ASC 820. Realized and unrealized gains and losses on equity securities are included in net income (loss). Equity securities are periodically reviewed for impairment using both quantitative and qualitative criteria.

PROPERTY AND EQUIPMENT

Property and equipment is recorded at cost. Depreciation is computed using the straight-line method over estimated useful lives of two to ten years for furniture, fixtures, and equipment and forty years for improvements. Expenditures for repairs and maintenance are charged to expense as incurred.

LONG-LIVED ASSETS

The Company reviews and evaluates long-lived assets for impairment when events or changes in circumstances indicate the related carrying amounts may not be recoverable. An impairment loss is recognized when estimated future cash flows expected to result from the use of the asset and its eventual disposition is less than its carrying amount. When impairment is identified, the carrying amount of the asset is reduced to its estimated fair value. Assets to be disposed of are recorded at the lower of net book value or fair market value less cost to sell at the date management commits to a plan of disposal. There were no impairment losses recognized in any period presented.

GOODWILL

Goodwill represents the excess of the purchase price of acquired businesses over the estimated fair value of the identifiable net assets acquired. In accordance with ASC 350, Goodwill and Other Intangible Assets, goodwill and other intangibles with indefinite useful lives are not amortized but tested for impairment annually or more frequently when events or circumstances indicates that the carrying value of a reporting unit more likely than not exceeds its fair value. The goodwill impairment test is applied by performing a qualitative assessment before calculating the fair value of the reporting unit. If, on the basis of qualitative factors, it is considered not more likely than not that the fair value of the reporting unit is less than the carrying amount, further testing of goodwill for impairment would not be required. Otherwise, goodwill impairment is tested using a two-step approach.

The first step involves comparing the fair value of a company's reporting units to their carrying amount. If the fair value of the reporting unit is determined to be greater than its carrying amount, there is no impairment. If the reporting unit's carrying amount is determined to be greater than the fair value, the second step must be completed to measure the amount of impairment, if any. The second step involves calculating the implied fair value of goodwill by deducting the fair value of all tangible and intangible assets, excluding goodwill, of the reporting unit from the fair value of the reporting unit as determined in step one. The implied fair value of the goodwill in this step is compared to the carrying value of goodwill. If the implied fair value of the goodwill is less than the carrying value of the goodwill, an impairment loss equivalent to the difference is recorded. The Company performed a qualitative assessment and determined there was no impairment of goodwill recognized during 2018. F-11

The first step involves comparing the fair value of a company's reporting units to their carrying amount. If the fair value of the reporting unit is determined to be greater than its carrying amount, there is no impairment. If the reporting unit's carrying amount is determined to be greater than the fair value, the second step must be completed to measure the amount of impairment, if any. The second step involves calculating the implied fair value of goodwill by deducting the fair value of all tangible and intangible assets, excluding goodwill, of the reporting unit from the fair value of the reporting unit as determined in step one. The implied fair value of the goodwill in this step is compared to the carrying value of goodwill. If the implied fair value of the goodwill is less than the carrying value of the goodwill, an impairment loss equivalent to the difference is recorded. The Company performed a qualitative assessment and determined no impairment of goodwill was necessary during 2018.

The Company recognizes an acquired intangible asset apart from goodwill whenever the intangible asset arises from contractual or other legal rights, or when it can be separated or divided from the acquired entity and sold, transferred, licensed, rented or exchanged, either individually or in combination with a related contract, asset or liability. Such intangibles are amortized over their useful lives. Impairment losses are recognized is the carrying amount of an intangible asset subject to amortization is not recoverable from expected future cash flows and its carrying amount exceeds its fair value.

LONG-LIVED ASSETS

The Company's long-lived assets consisted of property and equipment and customer relationships and are reviewed for impairment in accordance with the guidance of the FASB Topic ASC 360, Property, Plant, and Equipment. The Company tests for impairment losses on long-lived assets used in operations whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. Through September 30, 2018, the Company had not experienced impairment losses on its long-lived assets as management determined that there were no indicators that a carrying amount of the asset may not be recoverable.

COST OF SALES

Cost of services mainly consisted of raw material costs, direct labor and certain overhead allocated costs. Costs are recognized when the related revenue is recorded.

ADVERTISING EXPENSES

Advertising, ~~promotional~~expenses ~~and~~are ~~selling~~expensed ~~expenses~~as ~~consisted~~incurred. ofThe Company expensed ~~sales~~advertising ~~salaries~~costs of $6,346 ~~tap~~for ~~handles~~the three months ended March 31, ~~media~~2019. The Company expensed advertising costs, ~~sales~~of ~~and~~$0 ~~marketing~~for the period from ~~expenses~~January 29, ~~and~~2018 ~~promotional~~to ~~activity~~March ~~expenses~~31, ~~and~~2018 ~~are~~(Successor), ~~recognized~~$0 ~~when~~for ~~incurred in~~ the ~~accompanying~~period ~~statement~~from ofJanuary ~~operations.~~1, 2018 to January 28, 2018 (Predecessor), respectively.

~~GENERAL~~DEFERRED INCOME TAXES AND ~~ADMINISTRATIVE~~VALUATION ~~EXPENSES~~ALLOWANCE

~~General~~The ~~and~~Company ~~administrative~~accounts ~~expenses~~for ~~consisted~~income oftaxes ~~office~~under FASB ASC 740 Topic “Income ~~supplies,~~Taxes.” ~~rent~~Under the asset and ~~utility~~liability ~~expenses~~method, ~~meals,~~deferred ~~travel~~tax assets and ~~entertainment~~liabilities ~~expenses,~~are recognized for the future tax consequences ~~and~~attributable ~~other~~to ~~general~~differences between the financial statements carrying amounts of existing assets and ~~administrative~~liabilities ~~overhead~~and ~~costs~~their respective tax bases. ~~Expenses~~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 income in the period the enactment occurs. A valuation allowance is provided for certain deferred tax assets ~~when~~if ~~incurred~~it is more likely than not that the Company will not realize tax assets through future operations. No deferred tax assets were recognized at March 31, 2019 or December 31, 2018 (Successor).

The Predecessor was organized as a limited liability company and is taxed as a partnership for U.S. income tax purposes. As such the Predecessor is not subject to U.S. income taxes.

NET INCOME (LOSS) PER COMMON SHARE

Net income (loss) per share is calculated in accordance with FASB ASC 260 topic, “Earnings Per Share.” The weighted-average number of common shares outstanding during each period is used to compute basic earning or loss per share. Diluted earnings or loss per share is computed using the weighted average number of shares and diluted potential common shares outstanding. Dilutive potential common shares are additional common shares assumed to be exercised.

Basic net income (loss) per common share is based on the weighted average number of shares of common stock outstanding for the three months ended March 31, 2019, and the period from January 29, 2018 through March 31, 2018 (Successor).

F-12

FAIR VALUE ACCOUNTING

As required by the Fair Value Measurements and Disclosures Topic of the FASB ASC 820, fair value is measured based on a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: (Level 1) observable inputs such as quoted prices in active markets; (Level 2) inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and (Level 3) unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

The three levels of the fair value hierarchy are described below:

Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2 Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; Level 3 Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).

~~Level~~The 2Company ~~Quoted~~utilized ~~prices~~level in3 ~~markets~~inputs ~~that~~to ~~are~~estimate the ~~not~~fair ~~active,~~value of its derivative instruments using the Black-Scholes Option Pricing Model. There were no outstanding assets or liabilities ~~inputs~~measured ~~that~~on ~~are~~a ~~observable,~~recurring ~~either~~basis ~~directly~~at March 31, 2019 or ~~indirectly~~December 31, ~~for~~2018 ~~substantially~~(Successor) ~~the full~~other ~~term~~than ofmarketable ~~the~~securities ~~asset~~and orderivative ~~liability;~~liabilities (see note 6 and note 9).

~~Level~~RECENTLY 3ISSUED ~~Prices~~ACCOUNTING ~~or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).~~ PRONOUNCEMENTS

~~The~~In ~~Company~~preparing ~~utilized level 3 inputs to estimate~~ the ~~fair~~financial ~~value~~statements, management ofconsidered ~~its~~all ~~derivative~~new ~~instruments~~pronouncements ~~using~~through the ~~Black-Scholes~~date ~~Option~~of ~~Pricing~~the ~~Model~~report. ~~There were no outstanding assets or liabilities measured on a recurring basis at September 30, 2018 (Successor).~~

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (ASU 2016-02). Under ASU No. 2016-2, an entity is required to recognize right-of-use assets and lease liabilities on its balance sheet and disclose key information about leasing arrangements. ASU No. 2016-02 offers specific accounting guidance for a lessee, a lessor and sale and leaseback transactions. Lessees and lessors are required to disclose qualitative and quantitative information about leasing arrangements to enable a user of the financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. For public companies, The Company adopted this standard on January 1, 2019 using the modified retrospective method. The new standard provides a number of optional practical expedients in transition. The Company elected the ‘package of practical expedients’, which permitted the Company not to reassess under the new standard its prior conclusions about lease identification, lease classification and initial direct costs; and all of the new standard’s available transition practical expedients.

On adoption, the Company recognized additional operating liabilities of $139,048, with a Right of Use assets of $121,048 and reducing deferred rent by $18,000 based on the present value of the remaining minimum rental payments under current leasing standards for its existing operating leases. The Company’s existing capital leases under ASC 840 are classified as finance leases under ASC 842, with a total finance liability of $260,137 at adoption. See Note 14 for additional information on leases.

The new standard also provides practical expedients for a company’s ongoing accounting. The Company elected the short-term lease recognition exemption for its leases. For those leases with a lease term of 12 months or less, the Company will not recognize ROU assets or lease liabilities. The Company also made an accounting policy election to combine lease and non-lease components of operating leases for all asset classes.

In June 2018, the FASB issued ASU No. 2018-07, Compensation—Stock Compensation (Topic 718) - Improvements to Nonemployee Share-Based Payment Accounting, which aligns the accounting for share-based payment awards issued to employees and nonemployees. Under ASU No. 2018-07, the existing employee guidance will apply to nonemployee share-based transactions (as long as the transaction is not effectively a form of financing), with the exception of specific guidance related to the attribution of compensation cost. The cost of nonemployee awards will continue to be recorded as if the grantor had paid cash for the goods or services. In addition, the contractual term will be able to be used in lieu of an expected term in the option-pricing model for nonemployee awards. The Company adopted the provisions of the guidance on January 1, 2019 with no material impact on the Company’s consolidated financial statements and disclosures.

F-13

The Company does not believe that any other recently issued effective pronouncements, or pronouncements issued but not yet effective, if adopted, would have a material effect on the accompanying financial statements.

NOTE 4 – ACQUISITION OF FLEAUX SOLUTIONS, LLC- RELATED PARTY

On January 29, 2018, the ~~Company~~Galenfeha ~~acquired~~Inc. acquired substantially all of the operating assets of Fleaux Solutions, LLC, a Louisiana Limited Liability Company (the "Acquisition"), a Company with common officers and directors. There was no common majority ownership between the Company and Fleaux Solutions, LLC. ~~Fleaux~~ Fleaux Solutions, LLC is engaged in the business of water, utility, and sewage construction. Upon the closing of the Acquisition, the Company ~~received~~ received substantially all of the operating assets of Fleaux Solutions, LLC, consisting of cash on hand, inventory, accounts receivable, and fixed assets. There are common directors/officers with Galenfeha, Inc. and no common “majority” control.

The purchase price of the operating assets of Fleaux Solutions, LLC was a cash payment of $1.~~00.~~ In addition, the Company assumed $2,~~149~~155,~~749~~331 of scheduled liabilities.

The Company accounted for its acquisition of the ~~operating~~ operating assets of Fleaux Solutions, LLC using the acquisition method of accounting. Fleaux Solutions cash on hand, inventories, ~~accountants~~ accounts receivable, and fixed assets acquired and liabilities assumed were recorded based upon their estimated fair values as of the closing date of the Acquisition. The excess of purchase price over the value of the net assets acquired was recorded as goodwill.

The following table summarizes the estimated fair values of the tangible and intangible assets acquired as of the date of acquisition:

Net Assets Acquired		January 29, 2018
Schedule of business combination, segment allocation
Cash on hand	$	171,703
		January 29, 2018
Inventories		30,000
Cash on hand		$	171,703
Accounts receivable		~~816,929~~	814,429
Property and equipment		~~918,838~~	882,703
Assumption of scheduled liabilities		(2,149,749	)
Goodwill			286,497
Goodwill	$	(212,279	)
Total Assets Acquired			2,155,332
Assumption of scheduled liabilities			2,155,331
Net Assets Acquired		$	1

Goodwill is the excess of the purchase price over the fair value of the underlying net tangible and identifiable intangible assets. In accordance with applicable accounting standards, goodwill is not amortized but instead is tested for impairment at least annually or more frequently if certain indicators are present. The Company performed a qualitative assessment and determined there was no impairment of goodwill.

NOTE 5 – PROPERTY AND EQUIPMENT

Property and equipment are stated at cost, less ~~accumulated~~ accumulated depreciation. Depreciation is recorded using the straight-line method over the estimated useful lives of the related assets, ranging from ~~one~~three to forty years. ~~A summary is as follows:~~

		September 30,			December 31, 2017
Schedule of property, plant and equipment
		2018			(Predecessor)
		March 31, 2019				December 31, 2018
		(Successor)				(Successor)
Manufacturing assets	$	~~354,278~~$	419,827	$	~~285,815~~	$	354,278
Vehicles and trailers		~~271,686~~	271,686		~~271,686~~		271,686
Computer software		~~3,885~~	3,885		~~3,885~~		3,885
Capitalized leased equipment		~~598,119~~	557,152		~~598,119~~		557,152
		1,227,968			1,159,505
			1,252,550				1,187,001
Less accumulated depreciation		~~(386,397~~	)(493,551	)	~~(272,165~~	)	(453,622	)
Property and equipment, net	$	~~841,571~~$	758,999	$	~~887,340~~	$	733,379

Depreciation expense related to property and equipment was $93,876, $20,355 and $241,286 for the period January 29, 2018 through September 30, 2018 (Successor), January 1, 2018 through January 28, 2018 (Predecessor), and the nine months ended September30, 2017 (Predecessor), respectively.F-14

Depreciation expense related to property and equipment was $39,929, $54,784 and $27,631 for the three months ended March 31, 2019, the period from January 29, 2018 through March 31, 2018 (Successor), and the period from January 1, 2018 through January 28, 2018 (Predecessor), respectively.

NOTE 6 – INVESTMENTS

Marketable securities are accounted for on a ~~specific~~ specific identification basis. As of ~~September~~March 3031, ~~2018~~2019, ~~the~~all ~~Company~~of ~~held~~our ~~$134,615~~marketable ~~of available~~securities ~~for~~were ~~sale~~invested ~~securities.~~in publicly traded equity holdings. Marketable securities were classified as current based on the percentage of the equity controlled by the Company as well as our ~~intended~~ intended use of the assets. The ~~Company~~Successor recognized unrealized ~~losses~~gain (loss) of $1433,~~945~~295 and ($9,912) for the three months ended March 31, 2019 and the period from January 29, 2018 through ~~September~~March 3031, 2018 ~~(Successor)~~. The ~~Company~~ ~~recognized~~Successor recognized realized ~~loss~~losses of $1310,~~321~~994 and $7,590 for the three months ended March 31, 2019 and the period from January 29, 2018 through ~~September~~March 3031, 2018 ~~(Successor)~~.

~~Margin~~The ~~loans-~~Company's ~~(Predecessor)~~assets measured at fair value on a recurring basis subject to the disclosure requirements of ASC 820 at March 31, 2019 and December 31, 2018, was as follows:

During the twelve months ended December 31, 2017, the Company raised a total of $49,805 from margin loan associate with its brokerage account and repaid $49,805 during the same period. As of December 31, 2017, the company has a $0 balance in this margin loan account.


	Quoted Prices in		Significant
	Active Markets for		Other		Significant
	Identical Assets		Observable		Unobservable
	and Liabilities		Inputs		Inputs		Total
	(Level 1)		(Level 2)		(Level 3)
Assets
Marketable Securities as of March 31, 2019	$	102,000	$	-	$	-	$	102,000

Assets
Marketable Securities as of December 31, 2018	$	108,150	$	-	$	-	$	108,150

Margin loans- (Successor)

From January 29, 2018 through September 30, 2018, the Company raised a total of $18,455 from margin loan associate with its brokerage account and repaid $18,455 during the same period. As of September 30, 2018, the company has a $0 balance in this margin loan account.

NOTE 7 – NOTES PAYABLE AND CAPITAL LEASES

The ~~Company~~Predecessor secured a line of credit with Gibsland Bank & Trust on March 22, 2017. The line of credit was secured with fixed assets financed. The balance on the line of credit was $173,561 as of December 31, 2017 (Predecessor). This line of credit was paid in full as of January 29, 2018.

The Company secured a line of credit (LOC #0221) of $500,000 on on January 29, 2018 which is payable on demand. The line of credit is secured by all present and future inventory, all present and future accounts receivable, other receivables, contract rights, instruments, documents, notes, and all other similar obligation and indebtedness that may now and in the future be owed to the Company, and all general intangibles. The ~~loan~~interest israte ~~also~~under ~~secured~~this byloan is athe ~~personal guarantee~~“Prime ~~executed~~Rate” bydesignated in the ~~members~~“Money Rates” section of ~~Fleaux~~the ~~Solutions,~~Wall ~~LLC~~Street ~~including~~Journal ~~Michael~~(the ~~Trey~~“Index”). ~~Moore,~~The ~~Christopher~~index ~~Ryan~~currently ~~Marlowe,~~is ~~Ray S~~4.500% ~~Moore,~~per Jrannum., ~~and~~Interest ~~Frank~~on ~~Neal~~the ~~Richard. The~~unpaid ~~Company~~principal ~~withdrew~~balance ~~$168,521~~of inthis ~~funds~~line ~~from~~will ~~the~~be calculated ~~line~~using a rate of ~~credit~~1.000 onpercentage ~~January~~points ~~29, 2018~~over ~~and~~the ~~paid~~Index, ~~loan~~resulting ~~origination~~in ~~and~~an ~~documentation~~initial rate of ~~fees~~5.500% ofper ~~$2,540~~annum. toThe ~~bring~~loan ~~the~~is ~~total~~also ~~outstanding~~secured ~~line~~by ofa ~~credit~~personal ~~balance~~guarantee toexecuted ~~$171,061~~by onthe ~~January~~members ~~29,~~of ~~2018.~~Fleaux ~~On January 31~~Solutions, ~~2018,~~LLC ~~the~~including ~~Company~~Michael ~~withdrew~~Trey anMoore, ~~additional~~Christopher ~~$250~~Ryan Marlowe,~~000~~ inRay ~~funds~~S. ~~from~~Moore, ~~the line~~Jr., ofand ~~credit~~Frank ~~and~~Neal ~~made~~Richard. ~~payments~~On ofFebruary ~~$100~~4,~~000~~ on2019, the ~~line~~Company ofextended ~~credit bringing~~ the ~~balance~~ ~~due~~maturity ~~under~~date ~~the~~of this line of credit to ~~$321~~April 1,~~061~~ 2019. On ~~March~~April 229, ~~2018~~2019, ~~May 4, 2018 and September 25, 2018,~~ the Company ~~withdrew~~extended anthe ~~additional~~maturity ~~$60,000,~~date ~~$50,000~~of ~~and $40,000,~~this ~~respectively, in funds from the~~ line of credit ~~bringing~~to ~~the~~June 1, 2019. The balance due under the line of credit towas $~~471~~491,~~061~~638 and $491,061 as of ~~September~~March 3031, 2019 and December 31, 2018, ~~(Successor)~~respectively.

The Company secured a second line of credit (LOC #0248) of $150,000 on January 29, 2018 which is payable and due on February 1, 2019. The line of credit is secured by all present and future inventory, all present and future accounts receivable, other receivables, contract rights, instruments, documents, notes, and all other similar obligation and indebtedness that may now and in the future be owed to the Company, and all general intangibles. The interest rate under this loan is the “Prime Rate” designated in the “Money Rates” section of the Wall Street Journal (the “Index”). The index currently is 4.500% per annum. Interest on the unpaid principal balance of this line will be calculated using a rate of 1.000 percentage points over the Index, resulting in an initial rate of 5.500% per annum. The Company withdrew $100,000 in funds from the line of credit on January 29, 2018 and paid loan origination and documentation of fees of $750 to bring the total outstanding line of credit balance to $100,750 on January 29, 2018. The Company withdrew an additional $33,031 and $F-15~~,000 from the line of credit on February 22, 2018 and March 2, 2018, respectively, bringing the total balance due under the line of credit to $148,781 as of September 30, 2018 (Successor).~~

~~Additionally~~The Company secured a second line of credit (LOC #0248) of $150,000 ~~both~~on ~~lines~~January 29, 2018 with an original maturity of February 1, 2019. On February 4, 2019, the Company extended the maturity date of this line of credit ~~are~~to April 1, 2019. On April 9, 2019, the Company extended the maturity date of this line of credit to June 1, 2019. The line of credit is secured by ~~deposit~~ all present and future inventory, all present and future accounts ~~held~~receivable, atother receivables, contract rights, instruments, documents, notes, and all other similar obligation and indebtedness that may now and in the ~~Grantor’s~~future ~~institution~~be ~~which~~owed to ~~had~~the ~~cash~~Company, ~~balances~~and all general intangibles. The interest rate under this loan is the “Prime Rate” designated in the “Money Rates” section of the Wall Street Journal (the “Index”). The index currently is 5.500% per annum. Interest on the unpaid principal balance of this line will be calculated using a rate of 1.000 percentage points over the Index, resulting in an initial rate of 6.500% per annum. The balance due under the line of credit was $~~780~~148,781 and $0148,781 as of ~~September~~March 3031, ~~2018~~2019 ~~(Successor)~~ and December 31, ~~2017 (Predecessor)~~2018, respectively.

~~During~~Additionally, ~~the~~both ~~nine~~lines ~~months~~of ~~ended~~credit ~~September~~are ~~30, 2018 a shareholder~~secured ~~advanced~~by ~~the~~deposit ~~Company~~accounts ~~$300,000~~held onat anthe ~~unsecured,~~Grantor’s ~~interest~~institution ~~free basis~~ which ishad ~~due~~cash onbalances ~~demand. The~~of ~~Company~~$10,125 ~~repaid~~and $50179,~~000~~987 onas ~~these~~of ~~advances~~March ~~during~~31, ~~the~~2019 ~~nine~~and ~~months ended~~December ~~September 30~~31, 2018 ~~bringing the balance to $250~~,~~000.~~ respectively.

On February 13, 2019, the Company secured an excavator equipment loan in the amount of $65,548 with Takeuchi Financial Services. The note has an interest rate of 0.00%, payable in payments of $1,366 for 48 months. The outstanding balance on this note was $64,183 as of March 31, 2019. The Company repaid $1,366 during the three months ended March 31, 2019.

Notes Payable (Predecessor)

The Company assumed the debt of a loan payable executed between Fleaux Solutions, LLC and Gerald W. Norder on May 2, 2017. The proceeds received under the loan totaled $197,500. The loan is unsecured and doesn’t carry an interest rate but does charge the Company an initial loan fee of $17,500, bringing the initial balance due under the loan to equal $215,000. The ~~Company made principal repayments of $135,000 to this loan during the nine months ending September 30, 2018, bringing the total~~ balance due ofunder the loan towas $8060,000 ~~and $215,000~~ as of ~~September~~March 3031, ~~2018~~2019 and December 31, ~~2017, respectively~~2018.

The Company assumed the debt of a ~~Payment~~Cosmic ~~Rights~~Equipment loan ~~Purchase~~in ~~and Sale~~the ~~Agreement~~amount ~~executed~~of $142,598 between Fleaux Solutions, LLC &and ~~Everest~~ Business ~~Funding~~ onFirst ~~October 12, 2017~~Bank. The ~~proceeds~~loan ~~received~~has ~~under~~an ~~the~~interest ~~loan~~rate ~~totaled~~of 5.50% payable in thirty-six payments of $~~200~~4,~~000.~~311 ~~This~~with ~~loan~~the ~~doesn’t~~first ~~carry~~payment andue ~~interest~~on ~~rate~~January ~~but~~20, ~~does~~2018 ~~charge~~and the ~~Company an~~final ~~initial~~payment ~~loan~~due ~~fee~~December ~~of $46~~20,~~000~~ 2020. ~~The~~This loan is secured bywith ~~credit~~the ~~card~~2016 ~~sales~~Chevrolet DRW Express asset owned by the Company. ~~Payments~~ ~~are~~The ~~drafted~~loan ~~each~~is ~~business~~also ~~banking~~secured ~~day~~by ~~from~~a ~~the~~personal ~~Company’s~~guarantee ~~bank~~executed ~~account in~~by the members ~~amount~~ of ~~$807~~Fleaux ~~until~~Solutions, ~~the~~LLC ~~entire~~including ~~principal~~Michael ~~balance~~Trey ofMoore, ~~$246~~Christopher Ryan Marlowe,~~000~~ isand ~~paid~~Ray ~~in full~~S. Moore, Jr. The outstanding balance on this ~~note~~loan was $486,~~467~~077 and $~~189~~97,~~509~~716 as of ~~September~~ 30March 31, ~~2018~~2019 and December 31, ~~2017,~~2018 (Successor) respectively. The Company repaid $11,639 during the three months ended March 31, 2019.

The Company assumed the debt of a ~~Cosmic Equipment~~ loan in the amount of $~~142~~65,~~598~~000 between Fleaux Solutions, LLC and ~~Business~~KDC ~~First Bank. The loan has an interest rate of 5.50% payable in thirty-six payments of $4~~Pipeline,~~311~~ ~~with the~~which ~~first payment due on January 20, 2018 and the final payment due December 20, 2020. This loan~~ is ~~secured~~controlled ~~with the 2016 Chevrolet DRW Express asset owned~~ by ~~the~~ ~~Company. The loan is also secured by~~ a ~~personal~~friend ~~guarantee~~of ~~executed~~an byofficer ~~the members~~ of Fleaux Solutions,. ~~LLC~~The loan ~~including~~is ~~Michael Trey Moore~~unsecured, ~~Christopher~~non-interest ~~Ryan Marlowe~~bearing, and ~~Ray~~payable S.on ~~Moore, Jr~~demand. The outstanding balance on this loan was $~~109~~60,~~172 and~~000 ~~$142,598~~ as of ~~September~~March 3031, ~~2018~~ 2019 and December 31, ~~2017.~~2018 (Successor), respectively.

The Company assumed the debt of two secured automobile loans of $53,311 a ~~loan~~piece inrelating to the ~~amount~~purchase of ~~$65,000~~ two Chevrolet Trucks executed between Fleaux Solutions, LLC ~~and~~& ~~KDC~~General ~~Pipeline~~Motors Financial on March 29, 2017. ~~The~~Both ~~loan~~notes iscarry ~~unsecured, non-~~an interest ~~bearing,~~rate ~~and~~of 7.75%, payable onin ~~demand~~payments of $928 for 72 months. The outstanding balance on ~~this loan~~each note was $6538,~~000~~882 and $40,888 as of ~~September~~March 3031, ~~2018~~2019 and December 31, ~~2017~~2018, respectively. The Company repaid $2,005 on each note during the three months ended March 31, 2019.

The Company assumed the debt of ~~two~~a secured automobile ~~loans of~~ ~~$53,311~~loan ain ~~piece relating to~~ the ~~purchase~~amount of ~~two~~$53,075 ~~Chevrolet Trucks executed~~ between Fleaux Solutions, LLC & ~~General~~TD ~~Motors~~Auto ~~Financial~~Finance executed on ~~March~~September 2928, 2017. ~~Both~~ ~~notes~~The ~~carry~~note has an interest rate of 75.7589%, payable in payments of $~~928~~1,021 for 72 60 months. The outstanding balance on ~~each~~this note was $4239,~~855~~676 and $4742,~~918~~158 as of ~~September~~ 30March 31, 2019 ~~2018~~ and December 31, ~~2017~~2018, respectively. The Company repaid $2,481 on each note during the three months ended March 31, 2019.

The Company assumed the debt of a secured ~~automobile~~JET trailer loan in the amount of $5343,~~075~~618 between Fleaux Solutions, LLC & TDWestern ~~Auto~~Equipment Finance executed on ~~September~~May 284, 2017. The note has an interest rate of 57.6975%, payable in payments of $1,~~021~~105 for 6036 months, with $3,838 payable in advance. The outstanding balance on this note was $4414,~~598~~365 and $5018,~~864~~785 as of ~~September~~March 3031, ~~2018~~2019 and December 31, ~~2017~~2018, respectively. The Company repaid $4,420 during the three months ended March 31, 2019.

The Company assumed the debt of a secured JET trailer loan in the amount of $43,618 between Fleaux Solutions, LLC & Western Equipment Finance executed on May 4, 2017. The note has an interest rate of 0.00%, payable in payments of $1,105 for 36 months, with $3,838 payable in advance. The outstanding balance on this note was $22,100 and $32,045 as of September 30, 2018 and December 31, 2017, respectively.F-16

The Company assumed the debt of a secured excavator ~~equipment~~ equipment loan in the amount of $66,788 between Fleaux Solutions, LLC & Takeuchi Financial Services executed on August 23, 2017. The note has an interest rate of 0.00%, payable in payments of $1,113 for 60 months. The outstanding balance on this note was $5346,~~431~~752 and $6350,~~449~~091 as of ~~September~~March 3031, ~~2018~~2019 and December 31, ~~2017~~ 2018, respectively. The Company repaid $3,339 during the three months ended March 31, 2019.

Obligations under Capital Leases (Predecessor)

In October of 2016, the Predecessor entered into a lease agreement for the purchase of a 1997 Ford Van, used in the day to day operation of Fleaux Solutions, LLC. The lease is for 48 months and requires monthly payments of $1,063, plus sales tax. The ~~Predecessor paid an advance payment on the equipment~~ lease ~~of $15,250. The lease~~ is secured by the underlying leased asset. This arrangement was accounted for as a capital lease and capitalized the asset at $6360,~~487~~415. As of ~~September~~March 3031, ~~2018~~2019 and December 31, ~~2017~~2018 (Successor), the outstanding balance under this capital lease was $4840,~~621~~421 and $5043,~~523~~610, respectively. The Company repaid $3,189 during the three months ended March 31, 2019.

In October of 2016, the Predecessor entered into a lease agreement for the purchase of a 1998 Ford Van, used in the day to day operation of Fleaux Solutions, LLC. The lease is for 48 months and requires monthly payments of $2,118, plus sales tax. The ~~Predecessor paid an advance payment on the equipment~~ lease ~~of $15,250. The lease~~ is secured by the underlying leased asset. This arrangement was accounted for as a capital lease and capitalized the asset at $~~124~~122,~~702~~188. As of ~~September~~March 3031, ~~2018~~2019 and December 31, ~~2017~~2018 (Successor), the outstanding balance under this capital lease was $9680,~~981~~270 and $~~106~~86,~~376~~617, respectively. The Company repaid $6,347 during the three months ended March 31, 2019.

In February of 2017, the Predecessor entered into a lease agreement for the purchase of a 2001 Sterling Tractor Truck, used in the day to day operation of Fleaux Solutions, LLC. The lease is for 36 months and requires monthly payments of $888, plus sales tax. The ~~Predecessor paid an advance payment on the equipment~~ lease ~~of $250. The lease~~ is secured by the underlying leased asset. This arrangement was accounted for as a capital lease and capitalized the asset at $3531,~~134~~236. As of ~~September~~March 3031, ~~2018~~2019 and December 31, ~~2017~~ 2018 (Successor), the outstanding balance under this capital lease was $2518,~~506~~249 and $2820,~~758~~912, respectively. The Company repaid $2,664 during the three months ended March 31, 2019.

In February of 2017, the Predecessor entered into a lease agreement for the purchase of a 2014 Chevy Truck, used in the day to day operation of Fleaux Solutions, LLC. The lease is for 24 months and requires monthly payments of $986, plus sales tax. The ~~Predecessor paid an advance payment on the equipment~~ lease ~~of $250. The lease~~ is secured by the underlying leased asset. This arrangement was accounted for as a capital lease and capitalized the asset at $2825,~~258~~175. As of ~~September~~March 3031, ~~2018~~2019 and December 31, ~~2017~~ 2018 (Successor), the outstanding balance under this capital lease was $168,~~881~~980 and $2111,~~571~~938, respectively. The Company repaid $2,958 during the three months ended March 31, 2019.

In March of 2017, the Predecessor entered into a lease agreement for the purchase of a 1997 Ford E350, used in the day to day operation of Fleaux Solutions, LLC. The lease is for 12 months and requires monthly payments of $17,770, plus sales tax. The ~~Predecessor paid an advance payment on the equipment~~ lease ~~of $250. The lease~~ is secured by the underlying leased asset. This arrangement was accounted for as a capital lease and capitalized the asset at $~~240~~215,~~433~~136. As of ~~September~~March 3031, ~~2018~~2019 and December 31, ~~2017~~2018, the ~~outstanding~~ outstanding balance under this capital lease was $6635,~~852~~364 and $~~205~~35,~~977~~364, respectively.

In March of 2017, the Predecessor entered into a lease agreement for the purchase of a Dozer, Excavator, Tractor, and Backhoe, used in the day to day operation of Fleaux Solutions, LLC. The lease is for 36 months and requires monthly payments of $2,645, plus sales tax. The ~~Predecessor paid an advance payment on the equipment~~ lease ~~of $3,190. The lease~~ is secured by the underlying leased asset. This arrangement was accounted for as a capital lease and capitalized the asset at $~~106~~102,~~105~~503. The equipment purchased under this capital lease was acquired from Osprey Oil & Gas, a related party Company with common ownership between the owners of Fleaux Solutions, LLC. As of ~~September~~ 30March 31, ~~2018~~2019 and December 31, ~~2017~~2018 (Successor), the outstanding balance under this capital lease was $7954,~~860~~508 and $9162,~~909~~442, respectively. The Company repaid $7,935 during the three months ended March 31, 2019.

~~The current maturities and five year debt schedule for the notes is as follows and includes all lines of credit payable, notes payable, convertible notes payable, short~~F-~~term non-secured debt and amounts due to officer and related parties:~~17

2018	$	1,399,179
2019		365,520
2020		203,792
2021		44,028
2022 and thereafter		45,863
Total current notes payable	$	2,058,382

The current maturities and five year debt schedule for the notes is as follows and includes all lines of credit payable, notes payable, capital leases, short-term non-secured debt and amounts due to officer and related parties:

Schedule of debt
2019	$	1,419,372
2020		173,250
2021		44,028
2022		35,215
2023		8,187
Total notes payable	$	1,680,052

Margin loans- (Successor)

From January 29, 2018 through March 31, 2018, the Company raised a total of $18,455 from a margin loan associated with its brokerage account and repaid $14,203 during the same period. As of March 31, 2019 and December 31, 2018, the company has a $0 balance in this margin loan account.

NOTE 8 – CONVERTIBLE LOANS

AsPrior ofto ~~February 8, 2018,~~ the ~~Company~~Acquisition ~~had~~date ~~terminated and extinguished all~~ of ~~the~~January ~~convertible~~29, ~~notes the Company entered into during the~~2018, ~~second~~Galenfeha ~~and~~had ~~third quarters of 2017 prior to~~ the ~~acquisition~~below ofunsecured ~~Fleaux~~convertible ~~Solutions, LLC. (see Note #10)~~ notes:

Prior to the Acquisition date of January 29, 2018, Galenfeha had the below unsecured convertible notes.

June 2017 Note

Effective June 8, 2017 the Company entered into a Convertible Promissory Note (“Power Up Note One”) with Power Up Lending Group, Ltd. pursuant to which the Company issued Power Up Lending Group, Ltd. a convertible note in the amount of $43,000. The maturity date is March 20, 2018.

On June 8, 2017 the Company received consideration of $40,000. In addition, the Company paid legal fees of $3,000 associated with the entering into this agreement and thus recognized a liability of $43,000 associated with the Power Up Note One. The Company recognized a discount of $3,000 on fees paid upon entering into this agreement. There were no additional borrowings under the Power Up Note One during the twelve months ended December 31, 2017 ~~or nine months ending September 30, 2018~~. The Power Up Note carries an interest rate of 12% per annum from the Issue Date until the principal amount becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. Any amount of principal or interest on the Power Up Note which is not paid when due shall bear interest at the rate of 22% per annum from the due date thereof until the same is paid. Interest shall commence accruing on the date that the Note is fully paid and shall be computed on the basis of a 365-day year and the actual number of days elapsed. Since no payments were made on this note on or before 180 days from the effective date of the note, accrued interest due was recorded in the amount of $4,029 on December 10, 2017. Interest paid under the Power Up Note One totaled $0 at December 31, 2017. The note was declared in default on November 20, 2017 with a default penalty of $21,500 added onto the principal. The default penalty ~~has~~was ~~been~~ accounted for as interest expense as of December 31, 2017.

The Power Up Note provides Power Up Lending Group, Ltd. the right, to convert the outstanding balance (including accrued and unpaid interest) into shares of the Company’s common stock at 60% of the lowest trade price in the 15 trading days previous to the conversion, additional discounts may apply in the case that conversion shares are not deliverable or if the shares are ineligible. Power Up Lending Group, Ltd. shall have the right to convert at any time during the period beginning on the date which is one hundred eighty days following the date of this Note and ending on the later of: (i) the Maturity Date and (ii) the date of payment of the Default Amount, each in respect of the remaining outstanding principal amount of this Note. As a result of the derivatives calculation (see Note 9) an additional discount of $53,471 was recorded. On December 13, 2017, Power Up Lending converted $8,000 of the Power Up Note One into a total of 740,741 shares of Common Stock at a fair value of $0.0108 per share. On December 20, 2017, Power Up Lending converted $13,000 of the Power Lending Note One into a total of 2,166,667 shares of Common Stock at a fair value of $0.006 per share. On January 16, 2018, Power Up Lending converted $15,000 of the Power Up Note One into a total of 2,500,000 shares of Common Stock at a fair value of $0.006 per share. On January 29, 2018, Power Up Lending converted $15,000 of the Power Lending Note One into a total of 1,923,077 shares of Common Stock at a fair value of $0.0078 per share. On January 31, 2018, Power Up Lending converted $12,240 of the Power Up Note One into a total of 1,569,231 shares of Common Stock at a fair value of $0.0078 per share. On February 5, 2018, Power Up Lending converted $2,580 of the Power Lending Note One into a total of 492,308 shares of Common Stock at a fair value of $0.0078 per share.

Amortization of the debt discount totaled $47,351 for the nine months ended September 30, 2018 and $17,149 for the twelve months ended December 31, 2017. The principal balance due under the Power Up Lending Note One was $0 and $43,500 at September 30, 2018 (Successor) and December 31, 2017, respectively.F-18

July 2017 Note

Effective July 5, 2017 the Company entered into a Convertible Promissory Note (“Power Up Note Two”) with Power Up Lending Group, Ltd. pursuant to which the Company issued Power Up Lending Group, Ltd. a convertible note in the amount of $33,000. The maturity date is March 20, 2018.

On July 5, 2017 the Company received consideration of $30,000. In addition, the Company paid legal fees of $3,000 associated with the entering into this agreement and thus recognized a liability of $33,000 associated with the Power Up Note Two. The Company recognized a discount of $3,000 on fees paid upon entering into this agreement. There were no additional borrowings under the Power Up Note Two during the twelve months ended December 31, 2017 ~~or nine months ended September 30, 2018~~. The Power Up Note Two carries an interest rate of 12% per annum from the Issue Date until the principal amount becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. Any amount of principal or interest on the Power Up Note which is not paid when due shall bear interest at the rate of 22% per annum from the due date thereof until the same is paid. Interest shall commence accruing on the date that the Note is fully paid and shall be computed on the basis of a 365-day year and the actual number of days elapsed. The Company recognized accrued interest due under the Power Up Note Two totaling $2,800.

The Power Up Note Two provides Power Up Lending Group, Ltd. the right, to convert the outstanding balance (including accrued and unpaid interest) into shares of the Company’s common stock at 60% of the lowest trade price in the 15 trading days previous to the conversion, additional discounts may apply in the case that conversion shares are not deliverable or if the shares are ineligible. Power Up Lending Group, Ltd. shall have the right to convert at any time during the period beginning on the date which is one hundred eighty days following the date of this Note and ending on the later of: (i) the Maturity Date and (ii) the date of payment of the Default Amount, each in respect of the remaining outstanding principal amount of this Note. As a result of the derivatives calculation (see Note 8) an additional discount of $27,200 was recorded. On February 5, 2018, Power Up Lending converted $11,160 of the Power Lending Note One into a total of 1,430,769 shares of Common Stock at a fair value of $0.0078 per share. On February 8, 2018, the Company paid Power Up Lending $40,000 which extinguished any remaining balance due under the July 2017 note.

~~Amortization~~July ~~of the interest expense and costs associated with this note totaled $28,976 for the nine months ended September 30,~~ 2018 ~~and $4,024 for the twelve months ended December 31, 2017. The principal balance due under the Power Up~~ Note ~~Two was $0 and $33,000 at September 30, 2018 (Successor) and December 31, 2017, respectively.~~

~~Third~~On ~~quarter~~July 10, 2018, the company wrote a convertible promissory note for $133,000, of which the company received proceeds of $130,000. The note is due on July 10, 2019 with an interest rate of 12% per annum, and with a conversion option into common stock after 180 days following the date of funding. The conversion discount is 35% determined on the basis of the lowest closing bid price for the common stock during the prior ten trading day period. The original issuance discount of $3,000 was recorded as a debt discount and is being amortized over the life of the note. During the three months ended March 31, 2019, the note holder converted all $133,000 of principal into 8,296,653 shares of common stock at various dates.

OnAugust ~~July 10,~~ 2018, the company wrote a convertible promissory note for $133,000, of which the company received proceeds of $130,000. The note is due on July 10, 2019 with an interest rate of 12% per annum, and with a conversion option into common stock after 180 days following the date of funding. The conversion discount is 35% determined on the basis of the lowest closing bid price for the common stock during the prior ten trading day period. The original issuance discount of $3,000 was recorded as a debt discount and is being amortized over the life of the note. Note

On August 22, 2018, the company wrote a convertible promissory note for $53,000, of which the company received proceeds of $50,000. The note is due on August 22, 2019 with an interest rate of 12% per annum, and with a conversion option into common stock after 180 days following the date of funding. The conversion discount is 35% determined on the basis of the lowest closing bid price for the common stock during the prior ten trading day period. The original issuance discount of $3,000 was recorded as a debt discount and is being amortized over the life of the note.

~~The~~As ~~July~~a ~~and~~result ~~August~~of ~~2018~~the ~~notes~~derivatives ~~were~~calculation ~~considered~~(see Note ~~for~~9) ~~derivative liability~~an ~~treatment~~additional discount of $182,958 was recorded. ~~The~~Amortization ~~Company~~of ~~concluded~~the ~~that~~costs noassociated ~~derivates~~with ~~existed~~these asnotes oftotaled $144,860 for the ~~issuance~~three ~~date~~months orended ~~September~~March 3031, ~~2018~~2019.

~~Amortization of the costs associated with these Third Quarter 2018 notes totaled $995 for the nine months ended September 30, 2018.~~ F-19

NOTE 9 – DERIVATIVE LIABILITY

During the ~~period~~three ~~from~~months ~~January~~ended ~~29,~~March ~~2018 through September 30~~31, ~~2018~~ ~~(Successor)~~2019, the Company identified conversion features embedded within its convertible debt. The Company has determined that the conversion feature of the Notes represents an embedded derivative since the Notes are convertible into a variable number of shares upon conversion. Accordingly, the embedded conversion feature must be bifurcated from the debt host and accounted for as a derivative liability. Therefore, the fair value of the derivative instruments have been recorded as liabilities on the balance sheet with the corresponding amount recorded as discounts to the Notes. Such discounts will be accreted from the issuance date to the maturity date of the Notes. The change in the fair value of the derivative liabilities will be recorded in other income or expenses in the statement of operations at the end of each period, with the offset to the derivative liabilities on the balance sheet. The fair values of the embedded derivative liabilities were determined using the Black-Scholes valuation model on the issuance dates with the assumptions in the table below.

The change in fair value of the Company’s ~~derivative~~ derivative liabilities for the ~~period~~three ~~from~~months ~~January~~ended ~~29,~~March ~~2018 through September 30~~31, ~~2018~~2019 (Successor) is as follows:

January 29, 2018	$	49,346
Schedule of derivative liabilities at fair value
Derivative liability extinguished on conversion		(55,938	)
December 31, 2018 fair value		$	-
Loss on change in fair value of derivative		105,284
Fair value on the date of issuance recorded as a debt discount			182,958
September 30, 2018 (Successor)	$	-
Fair value on the date of issuance recorded as a loss on derivatives			52,315
Derivative liability extinguished on conversion			(169,503	)
Fair value mark – to market adjustment			24,957
March 31, 2019 fair value		$	90,727

The ~~gain (~~loss) on the change in fair value of derivative liabilities for the ~~period~~three ~~from~~months ~~January~~ended 29March 31, 2019 ~~through~~was ~~September 30, 2018 and totaled~~ $~~(105~~77,~~284)~~272.

The fair value at the issuance and re-measurement dates for the convertible debt treated as derivative liabilities are based upon the following estimates and assumptions made by management for the ~~nine~~three months ended ~~September 30,~~March ~~2018 and the year ended December~~ 31, ~~2017~~2019 (Successor):

Exercise prices	See Note 8
Schedule of derivative instruments
Expected dividends	0%
Exercise prices		See Note 8
Expected volatility	87%-463%
Expected dividends		0%
Expected term	See Note 8
Expected volatility		193%-229%
Discount rate	.29%-1.51%
Expected term		3-6 months
Discount rate		2.44%-2.52%

NOTE 10 - SHAREHOLDERS’ EQUITY

PREFERRED STOCK

The authorized stock of the Company consists of 20,000,000 preferred A shares and 30,000,000 preferred B ~~Shares~~shares with a par value of $0.001.

AsOn December 20, 2016, shareholders of ~~September~~the 30company approved an amendment to the Bylaws for the creation of preferred stock. The preferred class of stock will consist of two (2) series, Series ~~2018~~A, and ~~December~~Series 31B. All affiliates of the company who purchased stock during the formation of the company and who purchased stock for financing activities at prices below market will move their common shares into the Series B preferred stock, ~~2017~~effective immediately. The Series B votes 1:1; ~~7,300,000~~is subject to all splits the same as common; converts back to common 1:1; and cannot be converted back to common ~~shares~~for resale in the open market until a 30 day VWAP (volume weighted average price) of $.45 cents has been met in the Company’s ~~preferred~~public trading ~~stock~~market. ~~Series~~All Afuture ~~was~~sales ~~issued~~of company securities by affiliates will adhere to rules and ~~outstanding~~regulations of the Commission.

AsAffiliates ofwho ~~September~~purchased 30stock at offering prices that were current at the time of purchase, ~~2018~~and affiliates who make open market purchases and ~~December~~are 31directly responsible for a merger/acquisition that brings retained earnings to the company, ~~2017~~can convert these common shares 1:1 into Series A preferred stock. Series A votes 1:1; 27converts back to common 1:1; is not subject to splits in order to facilitate mergers,~~347~~ acquisitions,~~563~~ or meeting the requirements of a listed exchange; ~~shares~~and cannot be converted back to common for resale in the open market until a 30 day VWAP of $3.50 per share has been met in the Company’s public ~~preferred~~trading ~~stock~~market. ~~Series~~All Bfuture ~~was~~sales ~~issued~~of company securities by affiliates will adhere to rules and ~~outstanding~~regulations of the Commission.

F-20

During 2016, four officers and directors of the Company exchanged 27,347,563 common shares for 27,347,563 Series B preferred shares. During the first quarter of 2017, one officer and one director exchanged 7,568,537 common shares for 7,568,537 Series A preferred shares. During the second quarter of 2017, one officer converted 818,537 of preferred stock Series A back to same number of common stock. During the third quarter of 2017, one related party exchanged 550,000 common shares for 550,000 shares of preferred stock Series A.

During the period ended March 31, 2019, a total of 12,000,000 shares of the Company’s preferred stock Series B were converted into 12,000,000 shares of preferred stock Series A.

During the period ended March 31, 2019, a total of 15,347,563 shares of the Company’s preferred stock Series B were converted into 15,347,563 shares of common stock.

As of March 31, 2019, 19,300,000 shares of the Company’s preferred stock Series A were issued and outstanding.

As of March 31, 2019, no shares of the Company’s preferred stock Series B were issued and outstanding.

COMMON STOCK

The authorized stock of the Company consists of 150,000,000 common shares with a par value of $0.001. As of ~~September~~March 3031, 2019 and December 31, 2018, 7219,300,000 and 7,300,000 shares of the Company’s common stock were issued and outstanding., respectively.

On January 29, 2018, the Company entered into a Definitive Agreement to acquire Fleaux Solutions, LLC, a Company with common director and shareholders for a cash purchase of $1.00.

Prior to the Acquisition date of January 29, 2018, Galenfeha had issued the below shares during the period January 1, 2018 through January 29, 2018.

On January 16, 2018, Power Up Lending converted $15,000 of the June 2017 Power Up Lending Note One into a total of 2,500,000 shares of Common Stock at a fair value of $0.006 per share. ~~See Note 8.~~

On January 29, 2018, Power Up Lending converted $15,000 of the June 2017 Power Up Lending Note One into a total of 1,923,077 shares of Common Stock at a fair value of $0.0078 per share. ~~See Note 8.~~

The Company (Successor) issued the below shares during the period from January 29, 2018 through September 30, 2018.

On January 31, 2018, Power Up Lending converted $12,240 of the June 2017 Power Up Lending Note One into a total of 1,569,231 shares of Common Stock at a fair value of $0.0078 per share. ~~See Note 8.~~

On February 5, 2018, Power Up Lending converted $2,580 of the June 2017 Power Up Lending Note One into a total of 492,308 shares of Common Stock at a fair value of $0.0078 per share. ~~See Note 8.~~

On February 5, 2018, Power Up Lending converted $11,160 of the July 2017 Power Up Lending Note One into a total of 1,430,769 shares of Common Stock at a fair value of $0.0078 per share ~~See Note 8.~~

On February 15, 2018, the Company bought back 22,793 shares of common stock through a brokerage account for a total price of $913. These shares have been cancelled and are available to be issued.

~~NOTE 11~~ F- ~~COMMITMENTS AND CONTINGENCIES~~ 21

~~The~~On ~~Company~~January ~~assumed~~29, ~~two~~2018, ~~lease~~a ~~agreements~~Director ~~with~~of ~~respect to~~ the company ~~acquisition~~sold of3,000,000 ~~Fleaux~~shares ~~Solutions,~~of ~~LLC~~preferred ~~for~~stock ~~office/warehouse~~Series ~~facilities~~B ~~and~~to ~~yard storage~~two inaffiliates ~~Louisiana.~~of ~~The~~Fleaux ~~office/warehouse~~Solutions, ~~lease~~LLC isand ~~for~~to 36an ~~months~~affiliate ~~beginning August~~of 1Fleaux Services, ~~2017~~LLC. These ~~The~~shares ~~rent~~will ~~due~~be ~~under~~moved ~~the~~into ~~office/warehouse~~preferred ~~facility~~stock ~~lease~~Series ~~is as follows:~~ A.

August 2017 – January 2018 (Months One Through Six)	$5,000 per month
February 2018 – July 2018 (Months Seven Through Twelve)	$6,000 per month
August 2018 – January 2019 (Months Thirteen Through Eighteen)	$7,000 per month
February 2019 – July 2020 (Months Nineteen Through Thirty-Six)	$8,000 per month

During the period ended March 31, 2019, a total of 8,296,563 shares of the Company’s common stock was issued for conversion of debt of $133,000.

~~The~~NOTE ~~yard~~11 ~~storage~~- ~~lease is $1,000 per month or $12,000 per year beginning on March 1, 2017. The terms of the yard storage lease are month to month.~~ CONTINGENCIES

The Company leases space in Fort Worth, Texas for corporate facilities for $99 monthly or $1,188 per year. The terms of this lease are month to month.

Future minimum lease payments are as follows:

Year Ended		Amount
2018	$	21,000
2019		95,000
2020		56,000
2021		-
2022		-
	$	172,000

From time to time the Company may be a party to litigation matters involving claims against the Company. Management believes that there are no current matters that would have a material effect on the Company’s financial position or results of operations.

NOTE 12 – RELATED PARTY TRANSACTIONS

On November 4, 2016, Mr. James Ketner, Galenfeha’s Chairman and CEO made a cash contribution to the Company in the amount of $100,000 in exchange for a note that has a fixed repayment of $110,000. The note is unsecured, bears no interest, and can be repaid by the Company when the funds become available. The note can be renegotiated between Galenfeha and Mr. Ketner if both parties agree to the terms. ~~Principal~~There were no principal repayments on the note for the twelve months ending December 31, 2016, and the principal balance due under the note as of December 31, 2016 was $110,000. Principal repayments made under the note for the twelve months ending December 31, 2017 totaled $84,000, and the principal balance due under the note as of December 31, 2017 (Predecessor) was $26,000. On January 29, 2018, Mr. Ketner advanced the Company an additional $20,000 under the terms of this note for a fixed repayment of $21,000, bringing the total balance due under the terms of this note to $47,000 as of January 29, 2018. Principal repayments made under the note for the ~~nine~~period ~~months~~from ~~ending~~January ~~September~~29, 302018 through December 31, 2018 (Successor) totaled $47,000, and the principal balance due under the note as of ~~September~~March 3031, 2019 and December 31, 2018 (Successor) was $0.

OnThe ~~March 9, 2017, the~~ Company ~~entered~~subleases ~~into~~a anportion ~~agreement with Fleaux Services, LLC for the sale~~ of ~~the~~its ~~Company’s Daylight Pumps division,~~office ~~which~~space ~~includes, but in not limited~~ to, ~~all~~Fleaux ~~inventory~~Services ~~located~~of ~~at 9204 Linwood Avenue~~Louisiana, ~~Suite 104 and 105~~LLC, ~~Shreveport,~~a LArelated ~~7116, as well as all usage rights for the name “Daylight Pump~~party.” The ~~sale~~Company isrecognized ~~for~~rental ~~cash~~income ~~consideration~~ of $258,000, $2,000 and ~~Fleaux~~ ~~Services~~$4,000 ~~LLC~~for ~~will assume~~ the ~~responsibility of a promissory note held by~~ ~~Kevin~~three L.months ~~Wilson~~ended inMarch ~~the~~31, ~~amount~~2019 ~~of $350~~(Successor),~~000~~ ~~and~~the ~~all~~period ~~accrued~~from ~~interest~~January ~~due~~29, ~~since~~2018 ~~the date~~to ofMarch ~~issuance on August 23~~31, ~~2016.~~2018 ~~The~~(Successor) ~~sale~~and ~~will~~the ~~include~~period ~~all~~from ~~future pump~~January ~~sales~~1, ~~future~~2018 ~~purchase~~through ~~orders~~January ~~resulting from previous negotiations~~28, ~~and~~2018 ~~all intellectual~~(Predecessor). ~~property~~As ~~related~~of toMarch ~~Daylight~~31, ~~Pumps.~~2019 Aand ~~gain~~December on31, ~~the~~2018 ~~sale~~(Successor), of the ~~Daylight~~ ~~Pumps~~Company ~~division~~was ofowed $~~52,291~~0 ~~was~~by ~~recognized as a capital transaction~~Fleaux ~~during 2017~~Services.

The Predecessor received $35,000 from one officer during the period from January 1, 2018 through January 28, 2018 (Predecessor). During the ~~twelve~~period ~~months~~from ~~ending~~January 29, ~~December~~2018 through March 31, ~~2017~~2018, the Company received ~~royalty~~proceeds ~~payment~~ of $10300,000 from ~~Fleaux~~officers ~~Services,~~and ~~LLC~~related ~~relating~~parties toof the Company and made ~~sale~~payments of ~~Galenfeha-style batteries~~$28,500. The Company ~~received~~incurred origination fees of $159,~~000~~777 related into ~~royalty income~~one ~~from~~of ~~Fleaux~~these ~~Services~~loans, ~~LLC~~which ~~relating~~was torecorded ~~the~~as ~~sale~~debt ofdiscount ~~Galenfeha-style batteries~~and fully amortized during the ~~nine~~period ~~months~~from ~~ending~~January ~~September~~29, 302018 to December 31, 2018. Mr(Successor). ~~Trey~~During ~~Moore~~the is three months ended March 31, 2019, the ~~President/CEO~~Company ofborrowed ~~Fleaux~~an ~~Services~~additional $50,000 and ~~also~~repaid $25,000 isin aFebruary ~~Director~~2019. ofThe ~~Galenfeha~~advances are unsecured, ~~Inc~~bear no interest, and due on demand. As of March 31, 2019 and December 31, 2018, the Company owed $352,144 and $327,144 to these related parties, respectively.

On August 4, 2017, David Leimbrook, the Chief Financial Officer of Fleaux Services, LLC, had 550,000 shares of common stock originally purchased in the open market transferred from common stock to preferred stock Series A.

On January 29, 2018, the CEO in a private transaction, sold 1,000,000 shares of preferred stock Series B to David Leimbrook, the Chief Financial Officer of Fleaux Services, LLC and an additional 2,000,000 shares of preferred stock Series B to Christopher Ryan Marlowe, the Chief Operating Officer of Fleaux Services, LLC and an affiliate of Fleaux Solutions, LLC. The private shares were sold for cash consideration of $30,000.

On January 29, 2018, the Company entered into a Definitive Agreement to acquire Fleaux Solutions, LLC, a Company with common director and shareholders for a cash purchase of $1.00. Fleaux Solutions at the time of acquisition was owned by Director Trey Moore, President/CEO of Fleaux Services, LLC, Christopher Ryan Marlowe, Chief Operating Officer of Fleaux Services, LLC, and Ray Moore Jr., brother of Trey Moore. (See Note 4)F-22

~~The~~On ~~Company~~January ~~assumed a lease agreement executed on July 1~~29, ~~2017 between Fleaux Solutions~~2018, ~~LLC~~the ~~and~~Company ~~Fleaux~~entered ~~Services, LLC. The lease agreement~~into ~~provides~~a ~~for~~Definitive ~~Fleaux~~Agreement ~~Services, LLC~~ to ~~pay~~acquire Fleaux Solutions, LLC ~~rent income of $2~~,~~000~~ ~~per~~a ~~month~~Company ~~commencing~~with oncommon ~~July~~director ~~1, 2017~~ and ~~ending~~shareholders ~~on June 30, 2018 (month to month after that)~~ for ~~use of equipment and supplies owned by Fleaux Solutions, LLC. In addition, the Company assumed~~ a ~~month~~cash topurchase ~~month~~of ~~lease~~$1.00. ~~agreement executed on February 23, 2017 by~~ Fleaux Solutions ~~for~~at ~~use~~the time of ~~land~~acquisition ~~in Louisiana~~was ~~for~~owned ~~$1,000~~by ~~per~~Director ~~month.~~Trey ~~This agreement has been subleased to Fleaux Services~~Moore, ~~LLC~~President/CEO onof ~~a month to month basis.~~ Fleaux Services, LLC, ~~paid~~Christopher ~~the Company~~Ryan ~~rental income of $20~~Marlowe,~~000~~ onChief ~~January~~Operating 2,Officer ~~2018 relating to $12,000~~ of ~~rent~~Fleaux ~~owed from 2017 and $8~~Services,~~000~~ ~~as a prepayment towards rental income due for the nine months ending September 30~~LLC, ~~2018.~~and ~~The~~Ray ~~remaining~~Moore ~~$19~~Jr.,~~000~~ ~~due~~brother ~~under~~of ~~the lease agreement for the nine months ended September 30, 2018 is shown as a receivable, “Due from Related Parties.” Mr.~~ Trey Moore. isSee ~~the~~Note ~~President/CEO of Fleaux Services, and also is a Director of Galenfeha, Inc~~4.

From time to time, Trey Moore, Ray Moore Jr. and Christopher Ryan Marlowe, management and members of Fleaux Solutions, LLC will loan Fleaux Solutions, LLC money and/or pay for expenses with respect to Fleaux Solutions, LLC out of their personal funds and the Company will reimburse them for such. These loans don’t carry an interest rate and are payable on demand. The total outstanding amount due to Trey Moore, Ray Moore Jr. and Christopher Ryan Marlowe was $158,367 as of September 30, 2018.

During the nine months ending September 30, 2018 the Company received loan proceeds from Fleaux Services, LLC of $170,000. During the same period $120,000 was repaid leaving a balance of $50,000 as of September 30, 2018. The loans are unsecured, due on demand and have no stated interest rate.

NOTE 13 – UNCERTAIN TAX POSITIONS

~~Prior~~The topredecessor received a letter on May 17, 2016 from the ~~Acquisition~~Caddo-Shreveport ~~date~~Sales and Use Tax Commission informing them of a parish sales and use tax audit scheduled to begin on June 28, 2016. The audit period covered is January 291, ~~2018~~2013 through May 31, ~~Galenfeha~~2016. ~~had~~The audit is currently under way and no judgments or assessments have been issued. Management is of the ~~following~~opinion ~~uncertain~~that ~~tax~~this ~~positions:~~audit will not result in any material change in the Company’s financial results.

~~The~~NOTE ~~Company~~14 ~~received~~– a letter on May 17, 2016 from the Caddo-Shreveport Sales and Use Tax Commission informing them of a parish sales and use tax audit scheduled to begin on June 28, 2016. The audit period covered is January 1, 2013 through May 31, 2016. The audit is currently under way and no judgments or assessments have been issued. Management is of the opinion that this audit will not result in any material change in the Company’s financial results.LEASES

~~Item~~The 2Company has operating and finance leases for administrative offices, motor vehicles and certain machinery and equipment. ~~MANAGEMENT~~The Company’Ss ~~DISCUSSION~~leases ~~AND~~have ~~ANALYSIS~~remaining OFlease ~~FINANCIAL~~terms ~~CONDITION~~of 1 year to 2 ~~AND~~years. ~~RESULTS~~For OFpurposes ~~OPERATIONS~~of calculating operating lease liabilities, lease terms may be deemed to include options to extend the lease when it is reasonably certain that the Company will exercise those options. Some leasing arrangements require variable payments that are dependent on usage, output, or may vary for other reasons, such as insurance and tax payments. The variable lease payments are not presented as part of the initial ROU asset or lease liability. The Company's lease agreements do not contain any material restrictive covenants.

~~The~~At ~~following~~adoption ~~discussion~~of ~~and~~ASC ~~analysis~~842, ~~should be read in conjunction with~~ the ~~consolidated~~Company ~~financial statements and related notes~~recognized ~~included~~right inof ~~this~~use ~~report~~assets and ~~those~~liabilities infor ~~our~~operating ~~Form~~leases ~~10-K~~of ~~filed with the Securities and Exchange Commission on March 26~~$139, ~~2018~~048. ~~This~~The ~~discussion~~Company’s ~~contains~~existing ~~forward-looking statements~~capital ~~that~~leases ~~involve~~under ~~risks~~ASC ~~and~~840 ~~uncertainties.~~are ~~Our actual results may differ~~classified ~~materially from those anticipated in such forward-looking statements~~ as a ~~result of~~finance ~~certain~~leases ~~factors, including but not limited to, those described~~ under ~~“Risk Factors”~~ASC ~~included in Part II, Item IA of this report~~842.

~~Certain~~The ~~information~~following ~~and~~table ~~footnote~~summarizes ~~disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in~~ the ~~United States of America have been omitted. It is~~lease-related ~~suggested~~assets ~~that~~and ~~these~~liabilities ~~unaudited~~recorded ~~interim financial statements be read~~ in ~~conjunction~~ ~~with~~ the ~~financial~~consolidated ~~statements~~balance ~~and~~sheets ~~notes~~at ~~thereto included in the Company’s December~~ March 31, 2017 audited financial statements included in its Form 10-K filed with the Securities and Exchange Commission. The results of operations for the period ended September 30, 2018 and the same period last year are not necessarily indicative of the operating results for the full years. 2019:

Background Overview


Lease Position	March 31, 2019
Operating Leases
Operating lease right-of-use assets	$	103,369
Right of use liability operating lease short term	$	88,025
Right of use liability operating lease long term		31,344
Total operating lease liabilities	$	119,369

Finance Leases
Equipment	$	166,255
Accumulated depreciation		(25,498	)
Property and equipment, net	$	140,757
Right of use liabilities – finance leases short term		162,952
Right of use liabilities – finance leases long term		75,720
Total finance lease liabilities	$	238,672

~~Galenfeha~~The ~~was~~Company ~~incorporated~~utilizes ~~on March 14, 2013 in~~ the ~~state~~incremental ofborrowing ~~Nevada.~~rate ~~Our~~in ~~corporate~~determining ~~office~~the ispresent ~~located~~value atof ~~420~~lease ~~Throckmorton~~payments ~~Street,~~unless ~~Suite~~the ~~200, Ft.~~implicit ~~Worth~~rate ~~Texas 76102, and our telephone number~~ is ~~1-817-945-6448.~~readily ~~Our website is www~~determinable.~~galenfeha.com.~~

The company generates revenue by receiving royalties from products we developed, providing engineering, regulatory, and business consulting services across numerous disciplines, such as energy, aerospace, automotive, and medical, and by making investments in companies that our management team feels to be undervalued. With the recent acquisition of Fleaux Solutions, LLC, the company also generates revenues and earnings through government contracts. F-23

A condensed version of our 2018 Statement of Work is as follows:

Schedule of incremental borrowing rate
Lease Term and Discount Rate	March 31, 2019
Weighted-average remaining lease term (years)
Operating leases		1.3
Finance leases		1.1
Weighted-average discount rate
Operating leases		13.0	%
Finance leases		10.6	%

1.The ~~Acquire~~following ~~Private~~table ~~Companies~~provides ~~with~~the ~~Positive~~Company’s undiscounted ~~Cash~~cash ~~Flow~~payment 2.obligations ~~Explore~~for ~~investments~~its ~~both~~operating ~~private~~ and ~~public~~finance ~~(Ongoing)~~lease 3.liabilities ~~Develop~~with ~~new~~initial ~~technologies~~terms ~~(Ongoing)~~of 4.more ~~Formulate~~than ~~applications~~twelve ~~for~~months ~~new~~at March ~~technologies~~31, ~~5. Commercialize new technology and products~~2019:

Although information for this item is not required, the company chooses to provide the following disclosures:


	Operating Leases			Finance Leases
2019	$	72,000		$	135,585
2020		56,000			117,807
2021		-			-
2022		-			-
2023		-			-
2024 and thereafter		-			-
Total future undiscounted lease payments	$	128,000		$	253,392
Less: Interest		(8,631	)		(14,720	)
Present value of lease liabilities	$	119,369		$	238,672

~~CAUTIONARY~~At ~~NOTE~~March ~~TO INVESTORS: Investing in our securities~~31, ~~whether open market purchases or private transactions~~2019, ~~comes with~~ the ~~high~~Company ~~risk~~had ~~that~~no ~~you could lose your entire investment. Our independent~~additional ~~registered~~leases ~~public accountant has issued an audit opinion~~ which ~~includes~~had ~~a statement~~not ~~expressing~~yet ~~substantial doubt as to our ability to continue as a going concern~~commenced. We have a limited history of operations, and have to date incurred losses since the company’s inception. We recently sold all divisions of our commercialized products, but retain royalties from some of these product lines.

~~For~~The ~~the~~Company also rents yard storage for $1,000 per month or $12,000 per year ~~ending~~beginning ~~December~~on 31March 1, 2017. The terms of the yard storage lease are month to month. The Predecessor subleased a portion of the office space to Fleaux Services of Louisiana, LLC, a related party. The Predecessor recognized rental income of $2,000, during the ~~company~~period ~~had~~from ~~limited~~January 1, 2018 through January 28, 2018, and the Successor recognized rental income of $4,000 for the period from ~~revenues~~January 29, 2018 through March 31, 2018. The income was recognized as a component of selling, general and ~~limited~~administrative ~~operations~~expenses. The Predecessor received cash payment of $20,000 from Fleaux Services in January 2018.

~~On January 21~~Additionally, ~~2017~~the ~~Galenfeha~~Company ~~entered~~rents ~~into~~space ain ~~non-binding Letter~~Fort ofWorth, ~~Intent~~Texas tofor ~~purchase~~corporate ~~Additive~~facilities ~~Manufacturing, LLC~~ for a$109 ~~cash~~monthly ~~purchase~~or of $141,~~000~~308 per year,~~000.~~ ~~This~~and ~~acquisition~~additional ~~attempt~~office ~~was~~space ~~terminated~~for ~~during~~$950 ~~the~~per ~~second~~month. ~~quarter~~ The terms of both ~~2017~~agreements are month to month.

OnNOTE ~~January~~15 ~~23,~~– ~~2017,~~SUBSEQUENT the Company announced on Form 8-K filed with the commission that the company entered into an agreement to sell its entire Daylight Pump inventory to SouthVestBDC, LLC for a cash selling price of $400,000. A majority of the proceeds of this sale were to be used to repay a note secured by the pump inventory with Kevin L. Wilson on August 23, 2016 for $350,000 plus accrued interest. EVENTS

OnEffective ~~March~~June 91, ~~2017~~2019, the Company sold ~~its~~the ~~entire Daylight Pump inventory to~~ Fleaux ~~Services, LLC. The sale was for a cash consideration of~~ ~~$25~~Solutions,~~000~~ ~~USD; and Fleaux Services,~~ LLC ~~will~~business ~~assume~~back ~~responsibility~~to ofthe aprevious ~~promissory note~~owners ~~held by Kevin L. Wilson~~ in ~~the~~exchange ~~amount~~for of $~~350~~70,000 ~~and~~in ~~all accrued interest this note had accumulated since issuance on August 23, 2016~~cash.

InOn ~~June and~~ July of10, ~~2017~~2019, ~~the~~LaNell ~~Company~~Armour ~~entered~~resigned ~~into two~~from ~~Convertible Promissory Notes with Power Up Lending Group, Ltd. At~~ the ~~time~~Company’s ~~of this~~Board ~~report, both~~ of ~~these notes have been paid in full and extinguished, and there is no common stock remaining to be converted~~Directors.

On ~~January~~August 2930, ~~2018~~2019, the Company ~~entered~~cancelled ~~into a Definitive Agreement to acquire Fleaux Solutions~~918, ~~LLC for a cash purchase of $1.00. On~~537 ~~January 29, 2018, Galenfeha’s President and CEO filed with the commission on Form 4, disclosing the sale of 3,000,000~~ shares of preferred Series B stock to an affiliate of Fleaux Solutions, LLC, and to an affiliate of Fleaux Services of Louisiana, LLC. These shares will be moved into the Series A preferred stock. Series A votes 1:1; converts back to common 1:1; is not subject to splits in order to facilitate mergers, acquisitions, or meeting the requirements of a listed exchange; and cannot be converted back to common for resale in the open market until a 30 day VWAP of $3.50 per share has been met in Galenfeha’s public trading market. All future sales of company securities by affiliates will adhere to rules and regulations of the Commission. stock

On ~~February~~November 118, ~~2018;~~2019, the Company ~~announced~~cancelled ~~that the Fleaux Solutions Division secured a $650~~2,000 ~~bank line of credit~~, ~~as well as an additional $500,~~000 shares ~~from a private investor. Fleaux Solutions is engaged in the business~~ of ~~sewer rehabilitation~~common ~~with~~stock ~~local~~held ~~government~~by ~~and~~LaNell ~~municipality contracts~~Armour.

On ~~May~~March 111, ~~2018~~2020, the Company ~~signed~~cancelled ~~a letter of intent to acquire all of the membership interest in Fleaux Services of Louisiana~~700, ~~LLC, a leading oil and gas measurement company, for $18,~~000~~,000.~~ ~~The acquisition is contingent on Galenfeha’s~~shares ability to raise the funds, and the Company has engaged Wall Street firm Paulson Investment Company, LLC as the lead placement agent for financing the transaction. The Company was unable to secure funding for this transaction in the proscribed amount of ~~time,~~common ~~and therefore this transaction is no longer pending~~stock.

~~On May 3, 2018, the Company’s President and CEO, Mr. James Ketner, resigned his position as President and CEO.~~F-24

On ~~May~~October 31, ~~2018~~2019, ~~Mr.~~the ~~Trey~~Company’s ~~Moore~~former CEO ~~assumed~~and Chairman James Ketner loaned the ~~position~~Company of$60,000 ~~President/CEO~~through a note payable with a flat interest amount of ~~Galenfeha~~$10,000. ~~Inc~~The note was secured by 2,000,000 shares of Series A Preferred Stock of the Company.

On ~~May~~October 310, ~~2018~~2019, ~~the~~The Company ~~decided~~cancelled to eliminate the preferred stock structure in order to make the Company’s capital structure less complicated for potential investors funding the Fleaux Services transaction. All preferred shares will move 1:1 into the common. After further review10, ~~the company changed its position on this move~~000,000 shares ~~and~~previously ~~will~~issued ~~keep~~to ~~all preferred stock in place until otherwise disclosed~~PowerUp.

On ~~July~~December 1018, ~~2018~~2019, the ~~company~~Company ~~wrote~~paid ~~a convertible promissory note for~~ $~~133~~70,000~~, of which the company received proceeds of $130,000. The note is due on July 10, 2019 with an interest rate of 12% per annum, and with a conversion option into~~ ~~common~~to ~~stock after 180 days following~~ the ~~date~~owners of ~~funding.~~Fleaux ~~The conversion discount is 35% determined on the basis of the lowest closing bid price for the common stock during the prior ten trading day period. The original issuance discount of $3~~Solutions,~~000~~ ~~was recorded as a debt discount and is being amortized over the life of the note~~LLC.

On ~~August~~November 2230, ~~2018~~2020, ~~the~~James ~~company~~Ketner ~~wrote~~resigned afrom all ~~convertible~~positions ~~promissory note for $53,000, of which the company received proceeds of $50,000. The note is due on August 22, 2019~~ with ~~an interest rate of 12% per annum, and with a conversion option into common stock after 180 days following~~ the ~~date~~Company ofbut ~~funding.~~remained The conversion discount is 35% determined on the basis of the lowest closing bid price for the common stock during the prior ten trading day period. The original issuance discount of $3,000 was recorded as a ~~debt discount and is being amortized over the life of the note~~Director.

On December 13, 2020, the Company agreed to settle ~~Liquidity~~the $70,000 note payable balance with James Ketner by transferring the Company’s investment brokerage account to his name, with an approximate balance of $50,000 at the time of the transaction.

On December 18, 2020, the Board of Directors of ~~Assets~~the Company appointed Ryan C. Tyszkow as Director and CEO.

AtOn ~~September~~December 3031, ~~2018 (Successor)~~2020, wethe ~~had~~Company ~~total~~appointed ~~assets~~Darrell L. ofPeterson ~~$2,731,464,~~as ofa ~~which~~Director ~~$17,799~~and ~~was~~the inCompany’s ~~cash~~CFO.

~~The~~On ~~following~~January ~~discussion~~31, ~~represents~~2021, athe ~~comparison~~Company ofamended ~~our~~its Series ~~results~~B ofpreferred ~~operations~~stock ~~for~~designation ~~the~~to ~~three~~reduce ~~months~~the ~~ended~~authorized ~~September~~shares 30to 29,000,000 and ~~2018~~cancelled ~~and~~1,000,000 previously ~~2017~~outstanding shares. ~~For~~The ~~periods~~Series ~~after~~B ~~the~~voting ~~acquisition~~provision ofwas ~~Fleaux~~also ~~Solutions,~~modified ~~LLC~~to ~~(since~~be ~~January~~four ~~29,~~votes ~~2018),~~for ~~the~~every ~~Company~~one isshare ~~referred~~of ~~to as~~Series ~~the~~B ~~“Successor”~~Preferred ~~and~~Stock ~~our~~outstanding. ~~results~~The ofCompany ~~operations~~also ~~combines~~designated ~~the~~a ~~operations~~new ofSeries ~~Galenfeha~~C Preferred Stock, ~~Inc.~~with one share authorized and ~~Fleaux~~issued ~~Solutions,~~to ~~LLC.~~Ryan Tyszkow ~~For~~in ~~periods~~exchange ~~prior~~for his pledge to ~~the~~provide ~~acquisition~~working capital loans or guarantees of ~~Fleaux~~at ~~Solutions,~~least ~~LLC~~$350,000 to the Company. The Series C Preferred Stock is ~~referred~~entitled to asvote one share more than one half of all votes entitled to be cast by the Company’s existing capital stock ~~“Predecessor”~~outstanding. ~~and~~Once ~~our~~all ~~results~~such ofloans ~~operations~~or ~~include~~guarantees ~~that~~are ofno ~~Fleaux~~longer ~~Solutions~~outstanding, ~~LLC~~the Series C Preferred Stock shall be cancelled. The Series C has no dividend rights.

~~Results~~On ofJune ~~Operations~~25, ~~for~~2021, the ~~Three~~Company ~~Months~~issued ~~ending~~2,500,000 ~~September~~shares of ~~30,~~common ~~2018~~stock ~~and~~for ~~2017~~services including 1,250,000 to Tyszkow.

On September 20, 2021, the Company issued a total ~~Revenues~~of 5,500,000, including 2,000,000 to Ryan Tyszkow and 1,500,000 to Darrell L. Petterson.

~~Revenues~~On ~~for~~October ~~the three months ended September 30~~18, ~~2018 and 2017 were $1~~2021,~~109,667~~ ~~and~~James ~~$582,560~~Ketner ~~respectively,~~resigned as a ~~90%~~Director ~~increase from the previous year’s same quarter. The Company’s increase in revenue is due to the most recent acquisition~~ of ~~Fleaux Solutions, LLC, and~~ the ~~continued expansion of operational activities~~Company.

On November 20, 2021, Ryan Tyszkow resigned as ~~Cost~~CEO and Director of ~~Revenues~~the Company, and the Company appointed Darrell Peterson as CEO.

~~Cost~~In ofApril ~~Revenues~~2022, ~~for~~a ~~the~~total ~~three~~of ~~months ended September 30~~6,500,000 ~~2018~~shares ~~and~~of ~~2017 were $202~~common stock,~~169~~ ~~and~~including ~~$148~~3,~~698~~250,000 ~~respectively.~~share ~~Increased~~held ~~costs~~by ~~were~~Ryan ~~associated~~Tyszkow ~~with~~and ~~increases in material cost of goods sold~~1,250,000 ~~and~~held ~~additional~~by ~~labor~~Darrell toL. ~~perform~~Peterson ~~Company operations~~were cancelled.

~~Operating~~On ~~Expenses~~August 24, 2023, Mr. Peterson resigned as CEO, CFO and Director of the Company.

~~Total~~On ~~operating~~August ~~expenses~~24, ~~for~~2023, ~~the~~Darrell ~~three~~Peterson ~~months~~and ~~ended~~New ~~September~~Green 30Holdings, ~~2018~~Inc. ~~and~~a ~~2017~~Florida ~~were~~C-Corporation (“New Green”) entered into an agreement whereby New Green paid $~~557~~35,~~732~~000 ~~and~~to ~~$560~~Mr. Peterson to acquire 16,~~601~~300,000 ~~respectively~~shares of Series A, ~~which~~12,700,000 ~~was~~shares ~~near~~of ~~flat~~Series B and 1 share of Series C Preferred stock held by Mr. Peterson, ~~for~~resulting in New Green being the ~~previous~~controlled ~~year’s~~shareholder ~~same~~of ~~quarter~~the Company. On August 30, 2023, Tracy Anderson, the Executive Chairman of New Green, was appointed as sole Director and CFO of the Company.

~~Net~~On ~~Operating~~February ~~Income~~1, ~~(Loss)~~2024, Mr. Tracy Anderson, the sole Office/Director, stepped down as Chief Executive Officer and ~~Net~~Chief ~~Loss~~Financial Officer. Mr. Anderson appointed M. Travis Cockerman as Chief Executive Officer and Archie Lowe as Senior Vice-President and Acting Chief Financial Officer. Tracy Anderson appointed Travis Cockerman, Archie Lowe and Don Mock as Company Directors. Mr. Anderson remains the Executive Chairman of the Company. On May 6, 2024, The Board of Directors elected Mr. Archie as its Chief Financial Officer.

~~Net~~On ~~operating~~July ~~income~~24, ~~(loss)~~2024, ~~for~~ the ~~three~~Board ~~months~~of ~~ended~~Directors of the ~~September~~Company ~~30,~~voted ~~2018~~to ~~and~~change ~~2017~~the ~~was~~Company’s ~~$349~~name to New Green Hemp,~~766~~ Inc. and ~~$(126,739)~~change ~~respectively,~~the atrading ~~more~~symbol to NGHI. The Board also voted to ~~than~~cancel ~~300%~~all ~~increase~~shares ~~from~~of ~~the~~Series ~~previous~~B ~~year’s~~and ~~same~~C ~~quarter.~~Preferred ~~Net~~stock ~~income~~outstanding ~~(loss)~~and ~~for~~ increased the ~~three~~authorized ~~months~~shares ~~ended~~to ~~September~~be 30600,000,000 ~~2018~~shares of common and ~~2017~~50,000,000 ~~was~~shares ~~$334~~of Preferred Stock. Mr. Anderson,~~232~~ the holder of Series B and ~~$(138~~C Preferred Stock received 13,~~108) respectively~~700,000 ashares ~~more~~of ~~than~~Common stock ~~300%~~in ~~increase~~exchange ~~from~~for ~~the~~all ~~previous~~shares ~~year’s~~of ~~same~~Series ~~quarter~~B and C Preferred stock. The Company also authorized a 300 for 1 reverse stock split. The above actions are pending regulatory approval and not yet effective.

~~Results~~On September 8, 2024, all 12,700,000 outstanding shares of ~~Operations~~Series ~~for~~B Preferred Stock and the ~~Nine~~1 ~~Months~~share ~~ending~~of ~~September 30~~Series C Preferred stock were converted into 13,700,000 ~~2018~~shares ~~and~~of ~~2017~~common stock.

To provide a meaningful presentation and comparison of our results of operations, our discussion combines the period of January 1, 2018 through January 28, 2018 (Predecessor) with the period of January 29, 2018 through September 30, 2018 (Successor). In the accompanying unaudited interim consolidated financial statements, a black line separates the Predecessor and Successor financial statements to highlight the lack of comparability between these two periods.F-25

~~The~~ITEM ~~results~~2 of– ~~operations~~MANAGEMENTS ~~for~~DISCUSSION ~~the~~AND ~~interim~~ANALYSIS ~~periods~~OF ~~shown in the~~FINANCIAL ~~accompanying~~CONDITION ~~unaudited~~AND ~~interim~~RESULTS ~~consolidated~~OF ~~financial statements, including the periods shown as Predecessor and Successor, are not necessarily indicative of operating results for the entire period.~~OPERATIONS

~~Revenues~~The following discussion and analysis should be read in conjunction with the consolidated financial statements and related notes included in this report and those in our Form 10-K filed with the Securities and Exchange Commission on May 22, 2019. This discussion contains forward-looking statements that involve risks and uncertainties. Our actual results may differ materially from those anticipated in such forward-looking statements as a result of certain factors, including but not limited to, those described under “Risk Factors” included in Part II, Item IA of this report.

~~Revenues~~Certain ~~for~~information ~~the~~and ~~nine~~footnote ~~months~~disclosures ~~ended~~normally included ~~September~~in ~~30,~~financial ~~2018~~statements ~~and~~prepared ~~2017 were~~in ~~$2,852,024~~accordance ~~and~~with ~~$1,260,277~~accounting ~~(Predecessor)~~principles ~~respectively,~~generally aaccepted ~~125%~~in ~~increase~~the ~~from~~United States of America have been omitted. It is suggested that these unaudited interim financial statements be read in conjunction with the ~~previous~~financial ~~year’s~~statements and ~~same~~notes ~~period.~~thereto ~~The~~included in the Company’s ~~increase~~December 31, 2018 audited financial statements included in ~~revenue~~its ~~year~~Form ~~over~~10-K filed with ~~year~~the isSecurities ~~due~~and toExchange Commission. The results of operations for the ~~most~~period ~~recent~~ended ~~acquisition~~March 31, 2019 and the same period last year are not necessarily indicative of ~~Fleaux~~the ~~Solutions,~~operating ~~LLC~~results for the full years.

~~Cost of Revenues~~Overview

~~Cost~~On ofJanuary ~~Revenues~~29, ~~for~~2018, the ~~nine~~Company ~~months~~entered ~~ended~~into a ~~September~~Definitive ~~30,~~Agreement ~~2018 and~~to ~~2017~~acquire ~~were~~Fleaux ~~$771~~Solutions,~~296~~ ~~and~~LLC ~~$261,259~~for ~~respectively.~~a ~~Increased~~cash ~~costs~~purchase ~~were associated~~of $1.00, with ~~increases~~the inCompany ~~material~~assuming ~~cost~~all liabilities of ~~goods~~the business. ~~sold~~On June 1, ~~and~~2019, ~~additional~~the ~~labor~~ Company agreed to ~~perform~~sell ~~Company~~the ~~operations.~~business Asback ato ~~percentage~~the offormer ~~sales~~owners for $70,000 ~~cost~~cash ofin ~~goods~~exchange ~~sold~~for all equity ~~increased~~interest byof ~~6%.~~Fleaux Solutions, LLC.

~~Operating~~On ~~Expenses~~August 24, 2023, Darrell Peterson and New Green Holdings, Inc. a Florida C-Corporation (“New Green”) entered into an agreement whereby New Green paid $35,000 to Mr. Peterson to acquire 16,300,000 shares of Series A, 12,700,000 shares of Series B and 1 share of Series C Preferred stock held by Mr. Peterson, resulting in New Green being the controlled shareholder of the Company.

~~Total~~Following ~~operating expenses for~~ the ~~nine~~New ~~months~~Green ~~ended September 30~~transaction, ~~2018~~the ~~and 2017 were $1,634,651 and $1,277,908, respectively. The~~ Company’s ~~increase~~intends ~~in Operating Expenses is due~~ to pursue the ~~most~~business ~~recent~~of ~~acquisition~~hemp ofcultivation ~~Fleaux Solutions,~~and ~~LLC~~sales, ~~and~~focusing ~~the~~on ~~continued~~developing ~~expansion~~hemp ofproducts ~~operational~~infused ~~activities~~with various items.

~~Net~~Plan ~~Operating~~of ~~Income (Loss) and Net Loss~~ Operation

~~Net~~A ~~operating~~condensed ~~income~~version ~~(loss)~~of ~~for~~our ~~the~~2019 ~~nine~~Statement ~~months~~of ~~ended September~~Work ~~30,~~is ~~2018~~as ~~and 2017 was $446,078 and $(278,890) respectively, a 260% increase from the previous year’s same period.~~ follows:

~~Net~~1. ~~income~~Explore ~~for~~investments ~~the~~both ~~nine~~private ~~months~~and ~~ended~~public ~~September~~2. ~~30,~~Develop ~~2018~~new ~~and 2017~~technologies ~~was~~for ~~$261~~product development,~~273~~ engineering, and ~~$(266,847)~~manufacturers ~~respectively,~~3. aFormulate ~~200%~~applications ~~increase~~for ~~from~~new ~~the~~products ~~previous year’s~~recently ~~same~~developed ~~period~~4. Commercialize new technology and products

~~Equity~~Results ~~Distribution~~of Activities

~~Since~~To ~~our~~provide ~~incorporation,~~a wemeaningful ~~have~~presentation ~~raised~~and ~~capital~~comparison of ~~through~~our ~~private sales~~results of operations, our ~~common~~discussion ~~equity.~~combines Asthe period of ~~September~~January 301, 2018 wethrough ~~have~~January ~~issued~~28, 722018 (Predecessor) with the period of January 29,~~300~~ 2018 through March 31,~~000~~ 2018 (Successor). In the accompanying unaudited consolidated financial statements, a black line ~~shares~~separates ofthe ~~our~~Predecessor ~~common~~and ~~stock~~Successor financial statements to ~~various~~highlight ~~shareholders~~the lack of comparability between these two periods.

~~Off-Balance Sheet Arrangements~~ 3

WeFor ~~have~~the noThree ~~significant~~Months ~~off-balance~~Ended ~~sheet~~March ~~arrangements that have or are reasonably likely to have a current or future effect on our financial condition~~31, ~~changes~~2019 ~~in financial condition, revenues or expenses, results of~~and ~~operations, liquidity, capital expenditures or capital resources that is material to investors.~~ 2018

~~Item~~Results 3.of ~~Quantitative & Qualitative Disclosures about Market Risks~~Operations

~~Not applicable.~~ Revenues

~~Item~~Our 4revenues were $1,007,082 for the period ended March 31, 2019 compared to $1,120,542 in 2018. ~~CONTROLS~~The ~~AND~~10% ~~PROCEDURES~~decrease in revenue recorded during 2019 was attributable to a decrease in manhole rehabilitation services and CCTV. However, there was a significant growth in Cosmic service lateral lining contracts during 2019.

~~(a)~~Cost ~~Evaluation~~ of ~~Disclosure Controls and Procedures~~ Revenues

AsOur ofcost ~~the end~~ of ~~period~~revenue ~~covered~~was ~~by this report~~$264,433 for the ~~Company~~three ~~carried~~months ~~out~~ended anMarch ~~evaluation~~31, ~~with the participation of the Company's Chief Executive Officer and Principal Financial Officer~~2019, ofcompared ~~the effectiveness of the Company's disclosure controls and procedures pursuant~~ to ~~Securities Exchange Act Rule 13a-15. Based upon that evaluation~~$252,021 ~~the Company's Chief Executive Officer and Principal Financial Officer concluded that the Company's disclosure controls and procedures were not effective~~ in ~~ensuring~~2018. ~~that~~The ~~information~~increase ~~required to be disclosed by the Company~~ in the ~~reports~~cost ~~that~~of itrevenue ~~files~~is orprimarily ~~submits~~due ~~under~~to the ~~Securities~~ ~~Exchange~~increased ~~Act is recorded, processed, summarized and reported, within~~costs ~~the~~of ~~time~~services ~~periods~~related ~~specified~~to in the ~~SEC's~~additional ~~rules~~contracts ~~and~~as ~~forms.~~described above.

~~(b)~~Operating ~~Changes in internal controls over financial reporting.~~ Expenses

NoOperating ~~changes~~expenses for the three months ended March 31, 2019, and 2018, were ~~made~~$761,747 toand ~~the~~$549,303, ~~Company's~~respectively. ~~internal~~The ~~controls~~increase in ~~the quarterly~~operating ~~period~~expenses ~~covered~~was byprimarily ~~this~~attributable ~~report~~to ~~that~~increase payroll ~~have~~and ~~materially~~other ~~affected,~~general orand ~~are reasonably~~administrative ~~likely~~expenses ~~materially~~from tothe ~~affect,~~acquisition of the ~~Company’s~~Fleaux ~~internal~~Solutions ~~control~~business ~~over~~during 2018 and increased ~~financial~~professional ~~reporting~~fees.

~~PART~~Operating ~~II. OTHER INFORMATION~~ Income

~~Item~~Loss 1from operations for the three months ended March 31, 2019 was $19,098 compared to an operating income of $319,218 in 2018. ~~LEGAL~~The ~~PROCEEDINGS~~decrease in 2019 was due to the decrease in revenue growth and increased operating expenses discussed above.

~~None~~Other income/expense

~~Item~~Total 1Aother expense for the three months ended March 31, 2019 was $233,647 compared to total other income of $8,966 in 2018. ~~Risk~~Other ~~Factors~~Expense for the three months ended March 31, 2019, consisted of a $77,272 loss on derivative instruments, interest expense of $177,285, unrealized gain on trading securities of $33,295 and realized losses on investments of $10,994. Other Expense for 2018 consisted of interest expense of $76,803, unrealized loss on trading securities of $9,912 and realized losses on investments of $7,590. These were offset by a $102,604 gain on derivative instruments and miscellaneous income of $667 primarily related to royalty income from battery sales to a related party.

WeNet ~~are a smaller reporting company and, therefore, we are not required to provide information required by this item.~~Income/Loss

~~Item~~Net 2.loss ~~UNREGISTERED~~for ~~SALES~~the OFperiod ~~EQUITY~~ended ~~SECURITIES~~March ~~AND~~31, ~~USE~~2019 OFwas $252,745 ~~PROCEEDS~~compared to net income of $328,184 for 2018.

~~None~~Liquidity and Capital Resources

~~Item~~“Liquidity” 3refers to our ability to generate adequate amounts of cash to meet our funding needs. ~~DEFAULTS~~We ~~UPON~~believe ~~SENIOR~~we ~~SECURITEIES~~have adequate capital resources and liquidity from our operations to maintain current operations during 2019 but continue to be dependent on sales of common stock and bank financing to fund operations until we achieve a positive cash flow.

~~None~~We do not currently have material commitments for capital expenditures and do not anticipate entering into any such commitments during the next twelve months.

~~Item~~At 4March 31, 2019, we had current assets of $1,264,336 comprised of cash and cash equivalents of $20,644 and marketable securities of $102,000, accounts receivable of $983,941 and inventory of $157,751. ~~MINE~~Our ~~SAFETY~~current ~~DISCLOSURES~~liabilities were $2,039,656, comprised of $485,379 in accounts payable and accrued expenses, line of credit balances of $640,418, convertible notes payable of $11,409, right of use liabilities totaling $250,977, derivative liabilities of $90,727, and other short term debt totaling $208,602 and $352,144 in amounts due to related parties, resulting in a working capital deficit of ($775,320).

~~Not applicable~~ 4

~~Item~~At 5December 31, 2018, we had current assets of $1,270,039 comprised of cash and cash equivalents of $181,645 and marketable securities of $108,150, accounts receivable of $815,266 and inventory of $164,978. Our ~~OTHER~~current ~~INFORMATION~~liabilities were $2,018,843, comprised of $492,805 in accounts payable and accrued expenses, line of credit balances of $639,841, convertible notes payable of $182,507, other short-term debt totaling $376,546 and $327,144 in amounts due to related parties, resulting in working capital deficit of ($748,804).

~~None~~To provide a meaningful presentation and comparison of our results of operations, our discussion combines the period of January 1, 2018, through January 28, 2018 (Predecessor) with the period of January 29, 2018 through December 31, 2018 (Successor). In the accompanying unaudited consolidated financial statements, a black line separates the Predecessor and Successor financial statements to highlight the lack of comparability between these two periods.

~~Item~~Deficit 6accumulated since inception is $4,092,267. Our ~~EXHIBITS~~ability to meet our financial liabilities and commitments is primarily dependent upon the continued financial support of our management and stockholders, the continued issuance of equity to new stockholders, and our ability to achieve and maintain profitable operations.

(Our ability to continue as a) ~~Exhibits:~~going concern is dependent on our ability to raise additional capital and attain profitable operations. Since its inception, we have been funded by sales of company stock, and funds contributed by related parties through capital investment and borrowing funds. For these reasons, our auditors stated in their report on our audited financial statements that they have substantial doubt that we will be able to continue as a going concern without further financing.

Number		Description
31.1		Certification of Chief Executive and Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. (Filed herewith.)
32.1		Certification of Chief Executive and Financial Officer pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. (Filed herewith.)

Future Financings

**We ~~XBRL~~will ~~(Extensible~~continue ~~Business~~to ~~Reporting~~rely ~~Language)~~on ~~information~~equity ~~is furnished~~sales ~~and~~of ~~not~~our common ~~filed~~shares orin aorder ~~part~~to ofcontinue ato ~~registration~~fund ~~statement~~our orbusiness ~~prospectus~~operations. ~~for purposes~~Issuances of ~~Sections~~additional 11shares orwill 12result ofin ~~the~~dilution ~~Securities~~to ~~Act~~existing stockholders. ofYou ~~1933,~~have asno ~~amended,~~assurance ~~is deemed~~that ~~not~~we ~~filed~~will ~~for~~achieve ~~purposes~~any ofadditional ~~Section~~sales 18 of the ~~Securities~~equity ~~Exchange~~securities ~~Act~~or ~~of 1934,~~arrange asfor ~~amended,~~debt ~~and~~or ~~otherwise~~other isfinancing to ~~not~~fund ~~subject~~planned toacquisitions ~~liability~~and ~~under~~Development ~~these sections~~activities.

~~SIGNATURES~~Summary of Cash Flows

~~Pursuant~~Cashflow tofrom ~~the~~operating ~~requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.~~ activities

~~Galenfeha~~Net cash used in operating activities was $166,308 for ~~Inc~~the three months ended March 31, 2019 from net loss of $252,745, changes in accounts receivable of $313,333, and right of use liabilities of $19,679, offset by changes in inventory of $7,227, accounts payable and accrued expenses of $10,125, and non-cash charges totaling $402,097 related to depreciation expense, unrealized and realized losses on sales of investments, amortization of debt discount and gains on derivative instruments. Net cash used in operating activities was $10,572 for the period in 2018 from changes in accounts receivable of $222,201, inventory of $60,000, prepaid expenses and other current assets of $93,686, accounts payable and accrued expenses of 5,138, offset by change in due from related party of $14,000, net income of $328,184, and non-cash charges totaling $28,269 related to depreciation expense, unrealized and realized losses on sales of investments, amortization of debt discount and gains on derivative instruments.

Date: November 14, 2018	By:	/s/ Trey Moore
	Name:	Trey Moore
		President and Chief Executive Officer
		(Principal Financial Officer, Principal
		Accounting Officer)

Cashflow from investing activities

Net cash provided by investing activities for the period ended March 31, 2019, was $28,451, consisting of net sale of investments. Net cash provided by investing activities for the period in 2018 was $201,208, consisting of net sale of investments of $30,418, $913 in repurchases and cancellation of shares, and $171,703 in cash assumed as part of the acquisition.

Cashflow from financing activities

Net cash used in financing activities for the period ended March 31, 2019 was $23,144, consisting of $705,144 in principal payments on lines of credit and notes payable, $25,000 in payments on loans from related parties, offset by proceeds from lines of credit of $657,000, and proceeds from related parties of $50,000. Net cash provided by financing activities for the period in 2018 was $315,552, consisting of proceeds from lines of credit of $735,177, proceeds from related parties of $335,000. These were offset by $651,521 in principal payments on lines of credit, notes payable and capital leases, $67,061 in payments on loans from related parties, $21,840 in payments on convertible notes, and $14,203 in payments on margin loans. Since inception, we have used our common stock to raise money for the research and development of our intended products, for corporate expenses, and for current operations.

Off-Balance Sheet Arrangements

As of March 31, 2019, we have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to stockholders.

ITEM 3 – QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISKS

Not applicable.

Item 4. CONTROLS AND PROCEDURES

(a) Evaluation of Disclosure Controls and Procedures

As of the end of period covered by this report, the Company carried out an evaluation, with the participation of the Company's Chief Executive Officer and Principal Financial Officer, of the effectiveness of the Company's disclosure controls and procedures pursuant to Securities Exchange Act Rule 13a-15. Based upon that evaluation, the Company's Chief Executive Officer and Principal Financial Officer concluded that the Company's disclosure controls and procedures were not effective in ensuring that information required to be disclosed by the Company in the reports that it files or submits under the Securities Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the SEC's rules and forms.

(b) Changes in internal controls over financial reporting.

No changes were made to the Company's internal controls in the quarterly period covered by this report that have materially affected, or are reasonably likely materially to affect, the Company’s internal control over financial reporting.

PART II. OTHER INFORMATION

Item 1. LEGAL PROCEEDINGS

None

Item 1A. Risk Factors

A description of the risks associated with our business, financial condition and results of operations is set forth in our Annual Report on Form 10-K for the fiscal year ended December 31, 2018, filed with the SEC on May 22, 2019. These factors continue to be meaningful for your evaluation of the Company and we urge you to review and consider the risk factors presented in the Annual Report on Form 10-K. We believe there have been no changes that constitute material changes from these risk factors.

Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None

Item 3. DEFAULTS UPON SENIOR SECURITEIES

None

Item 4. MINE SAFETY DISCLOSURES

Not applicable

Item 5. OTHER INFORMATION

None

Item 6. EXHIBITS

(a) Exhibits:

Number		Description

31.1		Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. (Filed herewith.)
31.2		Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. (Filed herewith.)
32.1		Certification of Chief Executive Officer pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. (Filed herewith.)
32.2		Certification of Chief Financial Officer pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. (Filed herewith.)

** XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	Galenfeha, Inc.

Date: November 19, 2024	By:	/s/ Matthew T. Cockerham
	Name:	Matthew T. Cockerham
		President and Chief Executive Officer (Principal Executive Officer)

	Galenfeha, Inc.

Date: November 19, 2024	By:	/s/ Archie Lowe
	Name:	Archie Lowe
		Chief Financial Officer (Principal Financial0 Officer and Principal Accounting Officer)

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