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 December 31, ~~2019~~2020

☐¨ 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: 333-205822

SEGUIN NATURAL HAIR PRODUCTS, INC.

(Exact name of registrant as specified in its charter)

Nevada		35-7654530
(State or other jurisdiction of incorporation)		(IRS Employer Identification No.)

50 Yorkville Ave. Suite 2803, Toronto, Ontario, Canada		M4W 0A3
(Address of principal executive offices)		(Zip Code)

(647) 271-4226

(Issuer's telephone number, including area code)

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

Securities registered pursuant to Section 12(b) of the Act: None

Indicate by check mark whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for at least the past 90 days. Yes ☐¨ No ☒ x

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☐¨ No ☒x

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

Large accelerated filer ☐¨ Accelerated filer ☐¨ Non-accelerated filer ☐¨ Smaller reporting company ☒x Emerging growth company ☒x

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 13(a) of the Exchange Act. ☐¨

Indicate by check mark whether the registrant is a shell company (as defined by Rule 12b-2 of the Exchange Act.)

Yes ☒x No ☐¨

Indicate the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: As of ~~December~~April 723, ~~2023~~2024, there were 16,843,878 shares of the Company’s common stock issued and outstanding.

SEGUIN NATURAL HAIR PRODUCTS, INC.

FORM 10-Q

For the Quarter Ended December 31, ~~2019~~2020

TABLE OF CONTENTS

PART I
ITEM 1. FINANCIAL STATEMENTS		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		5
PART II - OTHER INFORMATION		5
ITEM 1. LEGAL PROCEEDINGS		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		56

TABLE OF CONTENTS

Financial Statements

Balance Sheets as of December 31, 2019 (unaudited) and March 31, 2019	F-2
Balance Sheets as of December 31, 2020 (unaudited) and March 31, 2020	F-2
Statements of Operations for the three and nine months ended December 31, 2019 and 2018 (unaudited)	F-3
Statements of Operations for the three and nine months ended December 31, 2020 and 2019 (unaudited)	F-3
Statements of Stockholders’ Deficit for the three and nine months ended December 31, 2019 and 2018 (unaudited)	F-4
Statements of Stockholders' Deficit for the three and nine months ended December 31, 2020 and 2019 (unaudited)	F-4
Statements of Cash Flows for the nine months ended December 31, 2019 and 2018 (unaudited)	F-5
Statements of Cash Flows for the nine months ended December 31, 2020 and 2019 (unaudited)	F-5
Notes to Consolidated Financial Statements (unaudited)	F-6 –- F-13

F-1

Seguin Natural Hair Products, Inc.

Balance Sheets

	December 31, 2019			March 31, 2019
	December 31, 2020			March 31, 2020
	(Unaudited)
ASSETS
CURRENT ASSETS:
Cash	$	-		$	26-
Prepaid expense		1521,~~928~~396			124,~~920~~411
Total Current Assets		1521,~~928~~396			124,~~946~~411
Total Assets	$	1521,~~928~~396		$	124,~~946~~411
LIABILITIES AND STOCKHOLDERS' DEFICIT
CURRENT LIABILITIES:
Accrued expenses and other current liabilities	$	21,~~257~~069		$	23,~~257~~445
Compensation payable		17,500			17,500
Advances from stockholders		236			236
Loan payable – related party		4878,270			-58,270
Total Current Liabilities		6897,~~263~~075			1979,~~993~~451
LONG TERM LIABILITIES:
Total Liabilities	$	97,075		$	79,451
Loan payable – related party		-			19,490
Total Liabilities	$	68,263		$	39,483
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' DEFICIT:
Common stock par value $0.0001: 500,000,000 shares authorized; 14,578,506 and 14,578,506 shares issued and outstanding as of December 31, 2019 and March 31, 2019; respectively	$	1,457		$	1,457
Common stock par value $0.0001: 500,000,000 shares authorized; 14,578,506 shares issued and outstanding as of December 31, 2020 and March 31, 2020	$	1,457		$	1,457
Additional paid-in capital		190,915			190,915
Shares to be issued		21,000			21,000
Accumulated deficit		(~~265~~289,~~707~~051	)		(~~250~~268,~~909~~412	)
Total Stockholders' Deficit		(5275,~~335~~679	)		(3755,~~537~~040	)
Total Liabilities and Stockholders' Deficit	$	1521,~~928~~396		$	124,~~946~~411

See accompanying notes to the unaudited financial statements.

F-2

Seguin Natural Hair Products, Inc.

Statements of Operations

(~~unaudited~~Unaudited)

	For the Three Month's Ending December 31st,						For the Nine Month's Ending December 31st,
	2019			2018			2019			2018
	2020			2019			2020			2019
Operating Expenses
Professional fees	$	43,~~548~~004		$	94,~~229~~548		$	1420,~~772~~528		$	1214,~~118~~772
General and administrative expenses		-110			~~7,532~~-			26110			~~20,589~~26
Total operating expenses		43,~~548~~114			164,~~761~~548			1420,~~798~~638			3214,~~707~~798
Loss from Operations		(43,~~548~~114	)		(164,~~761~~548	)		(1420,~~798~~638	)		(3214,~~707~~798	)
Other Income and Expenses
Gain on extinguishment of debt		-			10,000			-			10,000
Interest expense		-			-			-			-
Gain on derivative extinguishment		-			12,857			-			12,857
Total other income and expense		-			-			-			-
Derivative discount amortization		-			-			-			(5,000	)
Interest expense		-			(4,439	)		-			(17,104	)
Total other income and expense		-			18,418			-			753
Income Tax Provision		-			-			-			-
Net Income (Loss)	$	(43,~~548~~114	)	$	1(4,~~657~~548	)	$	(1420,~~798~~638	)	$	(3114,~~954~~798	)
Net Loss per Common Share - Basic and Diluted	$	0.00		$	0.00		$	0.00		$	0.00
Weighted average common shares outstanding: - basic and diluted		14,578,506			814,~~393~~578,~~964~~506			14,578,506			614,~~684~~578,~~435~~506

See accompanying notes to the unaudited financial statements.

F-3

Seguin Natural Hair Products, Inc.

Statements of Changes in Stockholders' Deficit

For the Nine Months Ended December 31st, ~~2019~~2020 and ~~2018~~ 2019

(Unaudited)

	Common Stock, $0.0001 Par Value						Additional					Total
	Number of				Shares to be		Paid-in		Accumulated			Stockholders'
	Number of Shares		Amount		Shares to be Issued		Paid-in Capital		Accumulated Deficit			Stockholders' Equity (Deficit)
	Shares		Amount		issued		Capital		Deficit			(Deficit)
Balance, March 31, 2018		5,825,000	$	582	$	-	$	92,767	$	(223,022	)	$	(129,673	)
Net loss		-		-		-		-		(16,309	)		(16,309	)
Balance, June 30, 2018		5,825,000	$	582	$	-	$	92,767	$	(239,331	)	$	(145,982	)
Net loss		-		-		-		-		(17,302	)		(17,302	)
Balance, September 30, 2018		5,825,000	$	582	$	-	$	92,767	$	(256,633	)	$	(163,284	)
Common stock issued upon conversion of debt		8,753,506		875		21,000		98,148		-			120,023
Net income		-		-				-		1,657			1,657
Balance, December 31, 2018		14,578,506	$	1,457	$	21,000	$	190,915	$	(254,976	)	$	(41,604	)
Balance, March 31, 2019		14,578,506	$	1,457	$	21,000	$	190,915	$	(250,909	)	$	(37,537	)
Net loss		-		-		-		-		(6,609	)		(6,609	)
Balance, June 30, 2019		14,578,506	$	1,457	$	21,000	$	190,915	$	(257,518	)	$	(44,146	)
Net loss		-		-		-		-		(3,641	)		(3,641	)
Balance, September 30, 2019		14,578,506	$	1,457	$	21,000	$	190,915	$	(261,159	)	$	(47,787	)
Net loss		-		-		-		-		(4,548	)		(4,548	)
Balance, December 31, 2019		14,578,506	$	1,457	$	21,000	$	190,915	$	(265,707	)	$	(52,335	)
Balance, March 31, 2020		14,578,506	$	1,457	$	21,000	$	190,915	$	(268,412	)	$	(55,040	)
Net loss		-		-		-		-		-			-
Balance, June 30, 2020		14,578,506	$	1,457	$	21,000	$	190,915	$	(268,412	)	$	(55,040	)
Net loss		-		-		-		-		(17,525	)		(17,525	)
Balance, September 30, 2020		14,578,506	$	1,457	$	21,000	$	190,915	$	(285,937	)	$	(72,565	)
Net loss		-		-		-		-		(3,114	)		(3,114	)
Balance, December 31, 2020		14,578,506	$	1,457	$	21,000	$	190,915	$	(289,051	)	$	(75,679	)

See accompanying notes to the unaudited financial statements.

F-4

Seguin Natural Hair Products, Inc.

Statements of Cash Flows

(Unaudited)

	For the Nine Month's Ending December 31st,
	2019			2018
	2020			2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(1420,~~798~~638	)	$	(3114,~~954~~798	)
Adjustments to reconcile net loss to net cash used in operating activities
Amortization on debt discount		-			~~5,000~~-
Gain on extinguishment of debt		-			~~(10,000~~-	)
Changes in fair value of derivative liability		-			~~(12,857~~-	)
Prepaid Expenses		~~(14~~3,~~008~~014	)		(214,~~751~~008	)
Accrued expenses and other current liabilities		-(2,376	)		~~37,884~~-
Net cash used in operating activities		(2820,~~806~~000	)		(1428,~~678~~806	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from loan - related parties		2820,~~780~~000			1428,~~000~~780
Bank overdraft		-			68-
Net cash provided by financing activities		2820,~~780~~000			1428,~~068~~780
Net change in cash		~~(26~~-	)		(~~610~~26	)
Cash at beginning of the reporting period		26-			~~610~~26
Cash at end of the reporting period	$	-		$	-
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:
Interest paid	$	-		$	-
Income tax paid	$	-		$	-
SUPPLEMENTAL DISCLOSURE OF NON-CASH TRANSACTIONS:
Issuance of shares upon conversion of notes payable	$	-		$	120,023
Expenses paid by related party on behalf of the company	$	-		$	11,249

See accompanying notes to the unaudited financial statements.

F-5

Seguin Natural Hair Products Inc. December 31, ~~2019~~2020 and ~~2018~~2019 Notes to the Financial Statements

(Unaudited)

Note 1 - Organization

Seguin Natural Hair Products Inc.

Seguin Natural Hair Products Inc. (the “Company”) was incorporated on April 29, 2014 under the laws of the State of Nevada. Initial operations have included organization and incorporation, target market identification, marketing plans, capital formation and property acquisitions. A substantial portion of the Company’s activities has involved developing a business plan and establishing contacts and visibility in the marketplace. The Company has generated no revenues since inception.

We are no longer in the business of developing and selling shampoo, conditioner, or any other hair care products.

The Company has no operations at this time and currently does not have any principal products or services, customers, or intellectual property. As the Company has no current operations, it also currently is not subject to any competitive business conditions. Further, the Company is not subject to any government approvals at this time, other than those applicable to it as a “shell company,” as such term is defined in Rule 12b-2 under the Exchange Act.

Note 2 - Significant and Critical Accounting Policies and Practices

The Management of the Company is responsible for the selection and use of appropriate accounting policies and the appropriateness of accounting policies and their application. Critical accounting policies and practices are those that are both most important to the portrayal of the Company’s financial condition and results and require management’s most difficult, subjective, or complex judgments, often as a result of the need to make estimates about the effects of matters that are inherently uncertain. The Company’s significant and critical accounting policies and practices are disclosed below as required by generally accepted accounting principles.

Basis of Presentation

The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

Fiscal Year End

The Company elected March 31^st as its fiscal year end date upon its formation.

Use of Estimates and Assumptions and Critical Accounting Estimates and Assumptions

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(s) of the financial statements and the reported amounts of expenses during the reporting period(s).

Critical accounting estimates are estimates for which (a) the nature of the estimate is material due to the levels of subjectivity and judgment necessary to account for highly uncertain matters or the susceptibility of such matters to change and (b) the impact of the estimate on financial condition or operating performance is material. The Company’s critical accounting estimates and assumptions affecting the financial statements were:

(i)

Assumption as a going concern: Management assumes that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business;

F-6

Seguin Natural Hair Products Inc. December 31, ~~2019~~2020 and ~~2018~~2019 Notes to the Financial Statements

(Unaudited)

(ii)

Valuation allowance for deferred tax assets: Management assumes that the realization of the Company’s net deferred tax assets resulting from its net operating loss (“NOL”) carry–forwards for Federal income tax purposes that may be offset against future taxable income was not considered more likely than not and accordingly, the potential tax benefits of the net loss carry-forwards are offset by a full valuation allowance. Management made this assumption based on (a) the Company has incurred recurring losses, (b) general economic conditions, (d) its ability to raise additional funds to support its daily operations by way of a public or private offering, among other factors.

These significant accounting estimates or assumptions bear the risk of change due to the fact that there are uncertainties attached to these estimates or assumptions, and certain estimates or assumptions are difficult to measure or value.

Management bases its estimates on historical experience and on various assumptions that are believed to be reasonable in relation to the financial statements taken as a whole under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources.

Management regularly evaluates the key factors and assumptions used to develop the estimates utilizing currently available information, changes in facts and circumstances, historical experience and reasonable assumptions. After such evaluations, if deemed appropriate, those estimates are adjusted accordingly.

Actual results could differ from those estimates.

Reclassification of certain amounts

Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations.

Fair Value of Financial Instruments

The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10- 35-37 establishes a framework for measuring fair value in generally accepted accounting principles (GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by Paragraph 820-10-35- 37 are described below:

Level 1

Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.

Level 2

Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.

Level 3

Pricing inputs that are generally observable inputs and not corroborated by market data.

The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument.

The carrying amounts of the Company’s financial assets and liabilities, such as cash and accrued expenses approximate their fair value because of the short maturity of this instrument.

Transactions involving related parties cannot be presumed to be carried out on an arm's-length basis, as the requisite conditions of competitive, free-market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm's-length transactions unless such representations can be substantiated.

F-7

Seguin Natural Hair Products Inc. December 31, ~~2019~~2020 and ~~2018~~2019 Notes to the Financial Statements

(Unaudited)

Cash Equivalents

The Company considers all highly liquid investments with maturities of three months or less at the time of purchase to be cash equivalents.

Related Parties

The Company follows subtopic 850-10 of the FASB Accounting Standards Codification for the identification of related parties and disclosure of related party transactions.

Pursuant to Section 850-10-20 the related parties include a. affiliates of the Company (“Affiliate” means, with respect to any specified Person, any other Person that, directly or indirectly through one or more intermediaries, controls, is controlled by or is under common control with such Person, as such terms are used in and construed under Rule 405 under the Securities Act); b. entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of Section 825–10–15, to be accounted for by the equity method by the investing entity; c. trusts for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of management; d. principal owners of the Company; e. management of the Company; f. other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and g. other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests.

The financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined financial statements is not required in those statements. The disclosures shall include: a. the nature of the relationship(s) involved; b. a description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; c. the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and d. amounts due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement.

Commitment and Contingencies

The Company follows subtopic 450-20 of the FASB Accounting Standards Codification to report accounting for contingencies. Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or unasserted claims that may result in such proceedings, the Company evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein.

If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed.

Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed.

F-8

Seguin Natural Hair Products Inc. December 31, ~~2019~~2020 and ~~2018~~2019 Notes to the Financial Statements

(Unaudited)

Revenue Recognition

In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers (Topic 606)," which supersedes the revenue recognition requirements in Accounting Standards Codification 605, "Revenue Recognition." This ASU is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. ASC 606-10-50-5 requires that entities disclose disaggregated revenue information in categories (such as type of good or service, geography, market, type of contract, etc.) that depict how the nature, amount, timing, and uncertainty of revenue and cash flow are affected by economic factors. ASC 606-10-55-89 explains that the extent to which an entity's revenue is disaggregated depends on the facts and circumstances that pertain to the entity's contracts with customers and that some entities may need to use more than one type of category to meet the objective for disaggregating revenue. In August 2015, the FASB issued ASU No. 2015-14, which deferred the effective date of the new revenue standard by one year, and allowed entities the option to early adopt the new revenue standard as of the original effective date. There have been multiple standards updates amending this guidance or providing corrections or improvements on issues in the guidance. The requirements for these standards relating to Topic 606 are effective for interim and annual periods beginning after December 15, 2017. This standard permitted adoption using one of two transition methods, either the retrospective or modified retrospective transition method.

The Company adopted these standards ~~for the year ended March 31, 2018~~ using the modified retrospective method. The adoption of these standards did not have an impact on the Company's Condensed Statements of Operations in the ~~nine~~periods ~~months ended December 31, 2018~~presented.

Deferred Tax Assets and Income Tax Provision

The Company accounts for income taxes under Section 740-10-30 of the FASB Accounting Standards Codification. Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statements of operations in the period that includes the enactment date.

The Company adopted section 740-10-25 of the FASB Accounting Standards Codification (“Section 740-10-25”). Section 740-10-25 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under Section 740-10-25, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement. Section 740-10-25 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures.

The estimated future tax effects of temporary differences between the tax basis of assets and liabilities are reported in the accompanying balance sheets, as well as tax credit carry-backs and carry-forwards. The Company periodically reviews the recoverability of deferred tax assets recorded on its balance sheets and provides valuation allowances as management deems necessary.

Management makes judgments as to the interpretation of the tax laws that might be challenged upon an audit and cause changes to previous estimates of tax liability. In addition, the Company operates within multiple taxing jurisdictions and is subject to audit in these jurisdictions. In management’s opinion, adequate provisions for income taxes have been made for all years. If actual taxable income by tax jurisdiction varies from estimates, additional allowances or reversals of reserves may be necessary.

Tax years that remain subject to examination by major tax jurisdictions

The Company discloses tax years that remain subject to examination by major tax jurisdictions pursuant to the ASC Paragraph 740-10-50-15.

F-9

Seguin Natural Hair Products Inc. December 31, ~~2019~~2020 and ~~2018~~2019 Notes to the Financial Statements

(Unaudited)

Earnings per Share

Earnings per share ("EPS") is the amount of earnings attributable to each share of common stock. For convenience, the term is used to refer to either earnings or loss per share. EPS is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Pursuant to ASC Paragraphs 260-10-45-10 through 260-10-45-16 Basic EPS shall be computed by dividing income available to common stockholders (the numerator) by the weighted- average number of common shares outstanding (the denominator) during the period. Income available to common stockholders shall be computed by deducting both the dividends declared in the period on preferred stock (whether or not paid) and the dividends accumulated for the period on cumulative preferred stock (whether or not earned) from income from continuing operations (if that amount appears in the income statement) and also from net income. The computation of diluted EPS is similar to the computation of basic EPS except that the denominator is increased to include the number of additional common shares that would have been outstanding if the dilutive potential common shares had been issued during the period to reflect the potential dilution that could occur from common shares issuable through contingent shares issuance arrangement, stock options or warrants.

Pursuant to ASC Paragraphs 260-10-45-45-21 through 260-10-45-45-23 Diluted EPS shall be based on the most advantageous conversion rate or exercise price from the standpoint of the security holder. The dilutive effect of outstanding call options and warrants (and their equivalents) issued by the reporting entity shall be reflected in diluted EPS by application of the treasury stock method unless the provisions of paragraphs 260-10-45-35 through 45-36 and 260-10-55-8 through 55-11 require that another method be applied. Equivalents of options and warrants include non-vested stock granted to employees, stock purchase contracts, and partially paid stock subscriptions (see paragraph 260–10–55–23). Anti-dilutive contracts, such as purchased put options and purchased call options, shall be excluded from diluted EPS. Under the treasury stock method: a. Exercise of options and warrants shall be assumed at the beginning of the period (or at time of issuance, if later) and common shares shall be assumed to be issued. b. The proceeds from exercise shall be assumed to be used to purchase common stock at the average market price during the period. (See paragraphs 260-10-45-29 and 260-10-55-4 through 55-5.) c. The incremental shares (the difference between the number of shares assumed issued and the number of shares assumed purchased) shall be included in the denominator of the diluted EPS computation.

There were no potentially dilutive common shares ~~outstanding~~ outstanding for the nine months ended December 31, ~~2019~~2020 and ~~2018~~2019.

Cash Flows Reporting

The Company adopted paragraph 230-10-45-24 of the FASB Accounting Standards Codification for cash flows reporting, classifies cash receipts and payments according to whether they stem from operating, investing, or financing activities and provides definitions of each category, and uses the indirect or reconciliation method (“Indirect method”) as defined by paragraph 230-10-45-25 of the FASB Accounting Standards Codification to report net cash flow from operating activities by adjusting net income to reconcile it to net cash flow from operating activities by removing the effects of (a) all deferrals of past operating cash receipts and payments and all accruals of expected future operating cash receipts and payments and (b) all items that are included in net income that do not affect operating cash receipts and payments.

Subsequent Events

The Company follows the guidance in Section 855-10-50 of the FASB Accounting Standards Codification for the disclosure of subsequent events. The Company evaluated subsequent events through the date when the financial statements were issued. Pursuant to ASU 2010-09 of the FASB Accounting Standards Codification, the Company as an SEC filer considers its financial statements issued when they are widely distributed to users, such as through filing them on EDGAR.

Recently Issued Accounting Pronouncements

In April 2016, the FASB issued ASU 2016–10 Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing. The amendments in this Update do not change the core principle of the guidance in Topic 606. Rather, the amendments in this Update clarify the following two aspects of Topic 606: identifying performance obligations and the licensing implementation guidance, while retaining the related principles for those areas. Topic 606 includes implementation guidance on (a) contracts with customers to transfer goods and services in exchange for consideration and (b) determining whether an entity's promise to grant a license provides a customer with either a right to use the entity's intellectual property (which is satisfied at a point in time) or a right to access the entity's intellectual property (which is satisfied over time). The amendments in this Update are intended render more detailed implementation guidance with the expectation to reduce the degree of judgement necessary to comply with Topic 606. The Company is has reviewed the provisions of this ASU to and determined there will be no material impact on our results of operations, cash flows or financial condition.

F-10

Seguin Natural Hair Products Inc. December 31, ~~2019~~2020 and ~~2018~~2019 Notes to the Financial Statements

(Unaudited)

The Company evaluated all recent accounting pronouncements issued and determined that the adoption of these pronouncements would not have a material effect on the financial position, results of operations or cash flows of the Company.

Note 3 – Going Concern

The Company has elected to adopt early application of Accounting Standards Update No. 2014-15, “Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”).

The Company is attempting to commence operations and generate sufficient revenue; however, the Company’s cash position may not be sufficient to support its daily operations. While the Company believes in the viability of its strategy to commence operations and generate sufficient revenue and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon its ability to further implement its business plan and generate sufficient revenue and in its ability to raise additional funds.

The financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

Note 4 – Convertible Notes - Related ~~party~~ Party

Debt:

From August 1, 2017, to June 28, 2018, the Company issued various promissory notes with an aggregate principal amount of $102,145 of which $11,095 was paid directly to the holder to pay for expenses on behalf of the Company. These borrowings were from an investor (the “Lender”) who has significant influence over the Company’s affairs. Interest is 12% to 25% per annum and is payable on demand. For the notes issued between November 14, 2017, and December 4, 2017, in the event of prepayment, the Borrower will pay to Lender 150% of the unpaid principal amount of the notes. For the remainder of the notes, there is no penalty for prepayment. These promissory notes have since been modified to include conversion privileges.

Conversion Terms:

The Lender has the right at any time following the 9th anniversary month of the date of the note, to convert the outstanding and unpaid notes principal and interest due into the Company’s common shares. The number of shares of Common Stock to be issued upon a conversion hereunder will be determined by dividing the Conversion Amount by Volume Weighted Average Price of the Common Stock as quoted by OTC Markets Group Inc. for the preceding five (5) trading days immediately preceding the date of conversion (“Conversion Price”). In no event, however, will the Conversion Price be less than $0.35 per share.

Conversion of Debt:

In December 2018, in a private transaction, the holder of $102,145 in debt sold these notes to an unrelated investor who subsequently converted the outstanding principal debt to common stock, thereby acquiring control of the Company. Effective December 4, 2018, the Company issued 8,753,506 shares of its common stock (“Shares”) upon the exercise of conversion rights under outstanding convertible promissory notes (“Notes”). The conversion price for the shares was $0.00927 per share and the aggregate principal amount converted under the Notes was $102,145. As a result of the conversion, the Notes were paid in full and are no longer outstanding obligations of the Company. On December 8th, 2021, the Company issued the additional 2,265,372 shares of common stock for the above conversion. The Shares were issued in compliance with the exemptions from the registration requirements of the Securities Act of 1933, as amended, provided by Section 4(a)(2) and Regulation S for transactions not involving a public offering and for offers and sales outside the United States.

F-11

Seguin Natural Hair Products Inc. December 31, ~~2019~~2020 and ~~2018~~2019 Notes to the Financial Statements

(Unaudited)

Note 5 – Derivatives and Fair Value Instruments

The Company applied paragraph 815-10-05-4 of the FASB Accounting Standards Codification to the Convertible Notes Payable issued September 28, 2017. Based on the guidance in paragraph 815-10-05-4 of the FASB Accounting Standards Codification the Company concluded these instruments were required to be accounted for as derivatives on issuance date. The Company records the fair value of the Convertible Notes Payable and certain warrants that are classified as derivatives on issuance date and the fair value changes on each reporting date reflected in the consolidated statements of operations as “Change in Fair Value - derivatives.” These derivative instruments are not designated as hedging instruments under paragraph 815-10-05-4 of the FASB Accounting Standards Codification and are disclosed on the balance sheet under Derivative Liabilities.

The Company follows paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820- 10-35-37”) to measure the fair value of its financial instruments and paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments. Paragraph 820-10- 35-37 establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (U.S. GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The three (3) levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below:

Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.

Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.

Level 3 Pricing inputs that are generally unobservable inputs and not corroborated by market data.

Financial assets are considered Level 3 when their fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument.

The carrying amounts of the Company’s financial assets and liabilities, such as cash, prepayments and other current assets, accounts payable and accrued expenses, approximate their fair values because of the short maturity of these instruments.

Note 6– Related Party Transactions

Advances

From time to time, the Company has received advances from its ~~chief~~ chief executive officer to meet short-term working capital needs. As of December 31, ~~2019~~2020 and March 31, ~~2019~~2020, a total of $4878,270 and $1958,~~490~~270 in advances from related parties are outstanding, respectively. These advances are unsecured, bear no interest, and do ~~not~~no have formal repayment terms or arrangements.

Free Office Space

The Company has been provided office space by its Chief Executive Officer at no cost. The management determined that such cost is nominal and did not recognize the rent expense in its financial statement.

Shareholder Advances

The balance owed to shareholders as of December 31, ~~2019~~2020 and March 31, ~~2019~~2020 was $236. The advances from shareholders are unsecured, non-interest bearing, and payable on demand.

F-12

Seguin Natural Hair Products Inc. December 31, ~~2019~~2020 and ~~2018~~2019 Notes to the Financial Statements

(Unaudited)

Management Compensation Payable

During the ~~three~~quarter ~~and nine months~~ ended December 31, ~~2019 and 2018~~2020, the Company accrued $0 in compensation to be paid to Management for services rendered. The total compensation payable as of December 31, ~~2019~~2020 and March 31, ~~2019~~ 2020, is $17,500.

Note 7- – Subsequent Events

Issuance of Additional Shares for Conversion

On December ~~8th~~8, 2021, the Company issued 2,265,372 shares of common stock it had recorded as Shares to be Issued related to the December 2018 Debt Conversion (See Note 4).

F-13

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion provides information which management believes is relevant to an assessment and understanding of our results of operations and financial condition. The discussion should be read along with our financial statements and notes thereto. This section includes a number of forward-looking statements that reflect our current views with respect to future events and financial performance. Forward-looking statements are often identified by words like believe, expect, estimate, anticipate, intend, project and similar expressions, or words which, by their nature, refer to future events. You should not place undue certainty on these forward-looking statements. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our predictions.

Overview

We were incorporated on April 29, 2014 in the State of Nevada. We are no longer in the business of developing and selling shampoo, conditioner or any other hair care products. We are a developmental stage company that has no assets or revenue. We have no track record and may never generate any revenues. An investment in our Company should be considered extremely risky as an investor could lose all of their investment if we fail to meet their goals and projections.

Plan of Operations

At the present time, the Company has no business operations. The Company will continue to seek other business opportunities either through the acquisition of, or merger with, an existing company with ongoing business operations.

Results of Operations

For the three and nine months ended December 31, ~~2019~~2020 and ~~2018~~ 2019

We did not generate any ~~revenues~~revenue during these periods. Operating expenses for the three and nine months ended December 31, ~~2019~~2020, were $43,~~548~~114 and $1420,~~798~~638 as compared to $164,~~761~~548 and $3214,~~707~~798 for the three and nine months ended December 31, ~~2018~~2019. The expenses were primarily reclassed to professional fees to maintain corporate governance.

~~Other~~The ~~Expenses~~basic ~~for~~and ~~the~~diluted ~~three~~Net ~~and~~Loss ~~nin~~per ~~months~~share of common stock for the three months ended December 31, 2020, and 2019 was $0 and ~~2018~~$0. Until such a time as we can implement our business plan we anticipate ongoing losses.

The Company had Other Income for the three and nine months ended December 31, 2019 of $0 and for the three and nine months ended December 31, 2018 of $18,418 and $753, respectively. The Other Income in the three and nine months ended December 31, 2018, amounted to Gain on Extinguishment of debt of $10,000, Gain on mark to market of derivative of $12,857, net of Derivative discount amortization of $0 and $5,000 and Interest Expenses of $4,439 and $17,104, respectively.

The basic and diluted Net Loss per share of common stock for the three and nine months ended December 31, 2019 and 2018 was $0 and $0. Until such time as we can implement our business plan we anticipate ongoing losses.

Liquidity and Capital Resources

At December 31, ~~2019~~2020 and March 31, ~~2019~~2020

We had nominal assets at both December 31, ~~2019~~2020, and March 31, ~~2019~~ 2020. As of December 31, ~~2019~~2020, we had $0 in cash as compared to $260 at March 31, ~~2019~~2020. Total liabilities at December 31, ~~2019~~ 2020 were $6897,~~263~~ 075 including accrued expenses of $21,~~257~~069, outstanding contractual obligations of $17,500, advances from related stockholders of $236, and related party loans of $4878,270. AtTotal liabilities at March 31, ~~2019,~~2020 ~~liabilities~~were ~~totaled~~ $3979,~~483~~451 ~~consisting~~including accrued expenses of $23,~~257 in accrued expenses~~445, outstanding contractual obligations of $17,500, ~~$236~~and of advances from related stockholders of $236, and related party loans of $1958,~~490~~270. Advances from stockholders are due on demand with interest due on the outstanding balance. Unless our officers/related stockholders continue to advance funds to the Company, of which there can be no assurance, or the Company receives an infusion of capital, it is unlikely that the Company will continue operations. At December 31, ~~2019~~2020, we had an accumulated deficit of $~~(265~~289,~~707)~~051 as compared to $~~(250~~268,~~909)~~412 at March 31, ~~2019~~2020.

Going Concern

The Company’s financial statements have been prepared assuming that it will continue as a going concern, which contemplates continuity of operations, realization of assets, and ~~liquidation~~ liquidation of liabilities in the normal course of business. As reflected in the financial statements, the Company had an accumulated deficit at December 31, 2019, a net loss, and net cash used in operating activities for the reporting period then ended. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company is attempting to commence operations and generate sufficient revenue; however, the Company’s cash position may never be sufficient to commence and support its daily operations. While the Company believes in the viability of its strategy to commence operations and generate sufficient revenue and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon its ability to further implement its business plan and generate sufficient revenue and in its ability to raise additional funds.

As reflected in the financial statements, the Company had an accumulated deficit at December 31, 2020, a net loss, and net cash used in operating activities for the reporting period then ended. These factors raise substantial doubt about the Company’s ability to continue as a going concern.

The Company is attempting to commence operations and generate sufficient revenue; however, the Company’s cash position may never be sufficient to commence and support its daily operations. While the Company believes in the viability of its strategy to commence operations and generate sufficient revenue and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon its ability to further implement its business plan and generate sufficient revenue and in its ability to raise additional funds.

Critical Accounting Policies and Estimates

Our financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of these financial statements requires management to make estimates and assumptions that affect the reported amounts of our assets, liabilities, revenues and expenses. Certain of these accounting policies are considered to be critical accounting policies, as defined below.

A critical accounting policy is defined as one that is both material to the presentation of our financial statements and requires management to make difficult, subjective or complex judgments that could have a material effect on our financial condition and results of operations. Critical accounting estimates have the following attributes: (1) they require us to make assumptions about matters that are highly uncertain at the time of the estimate; and (2) different estimates we could reasonably have used, or changes in the estimate we used that are reasonably likely to occur, could have a material effect on our financial condition or results of operations.

Estimates and assumptions about future events and their effects cannot be determined with certainty. We base our estimates on historical experience and on various other assumptions believed to be applicable and reasonable under the circumstances. These estimates may change as new events occur, as additional information is obtained or as our operating environment changes.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not required for smaller reporting companies.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

In connection with the preparation of this report on Form 10-Q/A, an evaluation was carried out by management, with the participation of the chief executive officer and the chief financial officer, of the effectiveness of the Company’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 (“Exchange Act”)). Disclosure controls and procedures are designed to ensure that information required to be disclosed in reports filed or submitted under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the Commission’s rules and forms and that such information is accumulated and communicated to management, including the chief executive officer and the chief financial officer, to allow timely decisions regarding required disclosures.

Based on that evaluation, the Company’s management concluded, as of the end of the period covered by this report, that the Company’s disclosure controls and procedures were not effective in recording, processing, summarizing, and reporting information required to be disclosed, within the time periods specified in the Commission’s rules and forms, and that such information was not accumulated and communicated to management, including the chief executive officer and the chief financial officer, to allow timely decisions regarding required disclosures.

Changes in Internal Control over Financial Reporting

During the period ended December 31, ~~2019~~2020, there has been no change in internal control over financial reporting that has materially affected or is reasonably likely to materially affect our internal control over financial reporting.

PART II - OTHER INFORMATION

ITEM 1.

LEGAL PROCEEDINGS

None.

ITEM 2.

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None.

ITEM 3.

DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4.

MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5.

OTHER INFORMATION

None

ITEM 6.

EXHIBITS

3.1*		Articles of Incorporation
3.2*		Bylaws
31.1		Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2		Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1		Certification of Chief Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2		Certification of Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101		The following financial information from our Quarterly Report on Form 10-Q/A for the quarter ended December 31, ~~2019~~2020 formatted in Extensible Business Reporting Language (XBRL): (i) the Balance Sheets, (ii) the Statements of Operations, (iii) the Statements of Cash Flows, and (iv) Notes to Financial Statements
		*Incorporated by reference to the Registration Statement on Form S-1 filed July 23, 2015.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: ~~December~~April 723, ~~2023~~2024

SEGUIN NATURAL HAIR PRODUCTS, INC.
(Registrant)

By:	/s/ Danny Iandoli
	Danny Iandoli
	Chief Executive Officer
	Chief Financial Officer
	(Principal Accounting Officer)

Filing Compare · SEGUIN NATURAL HAIR PRODUCTS INC.